# EDGAR Filing Document

**Accession Number:** 0001027263
**File Stem:** 0002071691-25-007307
**Filing Date:** 2025-11
**Character Count:** 4276040
**Document Hash:** e285ab9f5b761e26961de1b6e68eb41b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-007307.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0002071691-25-007307

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EQ ADVISORS TRUST
- **CENTRAL INDEX KEY:** 0001027263

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07953
- **FILM NUMBER:** 251520306

**BUSINESS ADDRESS:**
- **STREET 1:** 1345 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105
- **BUSINESS PHONE:** 212-554-1234

**MAIL ADDRESS:**
- **STREET 1:** 1345 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** 787 TRUST
- **DATE OF NAME CHANGE:** 19961125

## Series and Classes Contracts Data

### EQ/Wellington Energy Portfolio (Series ID: S000062653)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000203186 | Class IB     |  |

## Nport-Ex

**EQ ADVISORS TRUST** 

EQ/ALL ASSET GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  EXCHANGE TRADED FUNDS (ETF): | EXCHANGE TRADED FUNDS (ETF): |  |
|  **Commodity (7.4%)** |  |  |
|  Invesco DB Precious Metals Fund‡ | 156090 | $13880584 |
|  iShares Gold Trust\* | 283500 | 20630295 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Commodity** |  | 34510879 |
|  **Equity (4.1%)** |  |  |
|  iShares China Large-Cap ETF(x) | 55285 | 2274425 |
|  iShares MSCI EAFE Small-Cap ETF(x) | 94170 | 7224722 |
|  SPDR S&P Emerging Asia Pacific ETF | 15550 | 2161713 |
|  SPDR S&P Emerging Markets SmallCap ETF | 37945 | 2553319 |
|  Vanguard Global ex-U.S. Real Estate ETF | 101100 | 4826514 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 19040693 |
|  **Fixed Income (2.1%)** |  |  |
|  iShares JP Morgan USD Emerging Markets Bond ETF(x) | 100960 | 9610383 |
|  **Total Exchange Traded Funds (13.6%)**<br> *(Cost $34,236,166)* |  | 63161955 |
|  INVESTMENT COMPANIES: |  |  |
|  **Alternatives (13.8%)** |  |  |
|  1290 VT Convertible Securities Portfolio‡ | 1237453 | 14218337 |
|  1290 VT GAMCO Mergers & Acquisitions Portfolio‡ | 1779412 | 25374419 |
|  1290 VT Natural Resources Portfolio‡ | 673217 | 7189956 |
|  1290 VT Real Estate Portfolio‡ | 2723093 | 17128258 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Alternatives** |  | 63910970 |
|  **Equity (53.3%)** |  |  |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund‡ | 481700 | 10255386 |
|  1290 VT Equity Income Portfolio‡ | 1748201 | 9335394 |
|  1290 VT GAMCO Small Company Value Portfolio‡ | 349748 | 28014779 |
|  1290 VT SmartBeta Equity ESG Portfolio‡ | 540817 | 11384204 |
|  EQ/AB Small Cap Growth Portfolio‡ | 1656804 | 31098202 |
|  EQ/Emerging Markets Equity PLUS Portfolio‡ | 880501 | 9984877 |
|  EQ/International Equity Index Portfolio‡ | 877784 | 12113417 |
|  EQ/Invesco Comstock Portfolio‡ | 735147 | 17084825 |
|  EQ/Janus Enterprise Portfolio‡ | 195619 | 4690937 |
|  EQ/JPMorgan Growth Stock Portfolio\*‡ | 241088 | 21437569 |
|  EQ/JPMorgan Value Opportunities Portfolio‡ | 800319 | 17182853 |
|  EQ/Loomis Sayles Growth Portfolio\*‡ | 1647079 | 22466160 |
|  EQ/MFS International Growth Portfolio‡ | 4129738 | 36424287 |
|  EQ/Value Equity Portfolio‡ | 629967 | 15547577 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 247020467 |
|  **Fixed Income (18.9%)** |  |  |
|  1290 Diversified Bond Fund‡ | 938559 | 7958978 |
|  1290 VT DoubleLine Opportunistic Bond Portfolio‡ | 1093022 | 9815336 |
|  1290 VT High Yield Bond Portfolio‡ | 1426049 | $13419124 |
|  EQ/Core Plus Bond Portfolio‡ | 5401908 | 19338830 |
|  EQ/Intermediate Government Bond Portfolio‡ | 412672 | 4101964 |
|  EQ/PIMCO Global Real Return Portfolio‡ | 2142361 | 16688990 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 777194 | 7919605 |
|  Multimanager Core Bond Portfolio‡ | 955193 | 8357939 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 87600766 |
|  **Total Investment Companies (86.0%)**<br> *(Cost $357,359,667)* |  | 398532203 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (1.7%)** |  |  |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 2000000 | 2000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 5695308 | 5695308 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 7695308 |
|  **Total Short-Term Investments (1.7%)**<br> *(Cost $7,695,308)* |  | 7695308 |
|  **Total Investments in Securities (101.3%)**<br> *(Cost $399,291,141)* |  | 469389466 |
|  **Other Assets Less Liabilities (-1.3%)** |  | (5739442) |
|  **Net Assets (100%)** |  | $463650024 |

---

*\** *Non-income producing.* 

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

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $10,934,138. This was collateralized by $3,484,808 of various U.S. Government Treasury Securities, ranging from 0.125% – 5.375%, maturing 7/15/26 – 2/15/55 and by cash of $7,695,308 which was subsequently invested in investment companies.* 

The holdings in affiliated Investment Companies are all Class K shares except for the following: 1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund and 1290 Diversified Bond Fund are Class I shares.

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/ALL ASSET GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024($)** | **Purchases at<br>Cost ($)** | **Proceeds<br>from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss)**<br>**($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain**<br>**Distributions<br>($)** |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |  |  |  |  |  |  |  |
|  **Commodity** |  |  |  |  |  |  |  |  |  |
|  Invesco DB Precious Metals Fund | 156090 | 16979501 |  | (8972266) | 3435135 | 2438214 | 13880584 |  |  |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Alternatives** |  |  |  |  |  |  |  |  |  |
|  1290 VT Convertible Securities Portfolio | 1237453 | 13102715 | 105324 | (1139584) | (15497) | 2165379 | 14218337 |  |  |
|  1290 VT GAMCO Mergers & Acquisitions Portfolio | 1779412 | 23913959 | 695604 | (2116371) | 35683 | 2845544 | 25374419 |  |  |
|  1290 VT Natural Resources Portfolio | 673217 | 5812830 | 860186 | (651191) | (3550) | 1171681 | 7189956 |  |  |
|  1290 VT Real Estate Portfolio | 2723093 | 15497126 | 1435417 | (1465180) | 12664 | 1648231 | 17128258 |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund | 481700 | 9726310 | 267709 | (1082590) | 133014 | 1210943 | 10255386 |  |  |
|  1290 VT Equity Income Portfolio | 1748201 | 9246732 | 67709 | (1032590) | 41750 | 1011793 | 9335394 |  |  |
|  1290 VT GAMCO Small Company Value Portfolio | 349748 | 27338080 | 218173 | (2360568) | (6018) | 2825112 | 28014779 |  |  |
|  1290 VT SmartBeta Equity ESG Portfolio | 540817 | 10945774 | 90279 | (976787) | 29999 | 1294939 | 11384204 |  |  |
|  EQ/AB Small Cap Growth Portfolio | 1656804 | 29242279 | 2448265 | (2686163) | (64047) | 2157868 | 31098202 |  |  |
|  EQ/Emerging Markets Equity PLUS Portfolio | 880501 | 8973713 | 75232 | (1313989) | (16664) | 2266585 | 9984877 |  |  |
|  EQ/International Equity Index Portfolio | 877784 | 10503510 | 90279 | (1126787) | 187138 | 2459277 | 12113417 |  |  |
|  EQ/Invesco Comstock Portfolio | 735147 | 16987351 | 127894 | (1983781) | 112537 | 1840824 | 17084825 |  |  |
|  EQ/Janus Enterprise Portfolio | 195619 | 4704854 | 30093 | (325596) | 1257 | 280329 | 4690937 |  |  |
|  EQ/JPMorgan Growth Stock Portfolio \* | 241088 | 20278441 | 142942 | (2046579) | 4595 | 3058170 | 21437569 |  |  |
|  EQ/JPMorgan Value Opportunities Portfolio | 800319 | 16687907 | 127894 | (1383781) | 12901 | 1737932 | 17182853 |  |  |
|  EQ/Loomis Sayles Growth Portfolio \* | 1647079 | 21922997 | 142941 | (3046579) | 125846 | 3320955 | 22466160 |  |  |
|  EQ/MFS International Growth Portfolio | 4129738 | 33912247 | 270836 | (3930360) | (5854) | 6177418 | 36424287 |  |  |
|  EQ/Value Equity Portfolio | 629967 | 14563124 | 927894 | (1383781) | 26447 | 1413893 | 15547577 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 938559 | 7115506 | 1144038 | (651191) | (3074) | 353699 | 7958978 | 353542 |  |
|  1290 VT DoubleLine Opportunistic Bond Portfolio | 1093022 | 9463729 | 575232 | (813989) | 8717 | 581647 | 9815336 |  |  |
|  1290 VT High Yield Bond Portfolio | 1426049 | 13121838 | 605323 | (1139584) | 4340 | 827207 | 13419124 |  |  |
|  EQ/Core Plus Bond Portfolio | 5401908 | 19266232 | 142941 | (1546579) | (149583) | 1625819 | 19338830 |  |  |
|  EQ/Intermediate Government Bond Portfolio | 412672 | 4034402 | 287615 | (406994) | 5456 | 181485 | 4101964 |  |  |
|  EQ/PIMCO Global Real Return Portfolio | 2142361 | 15049417 | 2385418 | (1465180) | (2246) | 721581 | 16688990 |  |  |
|  EQ/PIMCO Ultra Short Bond Portfolio | 777194 | 7662534 | 717709 | (732590) | 1359 | 270593 | 7919605 |  |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/ALL ASSET GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases at<br>Cost ($)** | **Proceeds<br>from Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  Multimanager Core Bond Portfolio | 955193 | 7990133 | 754660 | (651191) | 5782 | 258555 | 8357939 | 223086 |  |
|  **Total** |  | **394043241** | **14737607** | **(46431821)** | **3918087** | **46145673** | **412412787** | **576628** |  |

---

*\** *Non-income producing.* 

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other**<br>**Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant Unobservable**<br>**Inputs (including the**<br>**Portfolio's own**<br>**assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Exchange Traded Funds** |  |  |  |  |
|  Exchange Traded Funds | $63161955 | $— | $— | $63161955 |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | 18214364 | 380317839 |  | 398532203 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 7695308 |  |  | 7695308 |
|  **Total Assets** | $**89071627** | $**380317839** | $**—** | $**469389466** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**89071627** | $**380317839** | $**—** | $**469389466** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $87409812 |
|  Aggregate gross unrealized depreciation | (22301032) |
|  Net unrealized appreciation | $65108780 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $404280686 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/ULTRA CONSERVATIVE STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (10.6%)** |  |  |
|  EQ/2000 Managed Volatility Portfolio‡ | 1962043 | $41830759 |
|  EQ/400 Managed Volatility Portfolio‡ | 383018 | 9192432 |
|  EQ/500 Managed Volatility Portfolio‡ | 3298957 | 113253182 |
|  EQ/International Managed Volatility Portfolio‡ | 1575605 | 26391381 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 190667754 |
|  **Fixed Income (89.5%)** |  |  |
|  EQ/Intermediate Corporate Bond Portfolio‡ | 16330141 | 173752703 |
|  EQ/Intermediate Government Bond Portfolio‡ | 120412774 | 1196902978 |
|  EQ/Long-Term Bond Portfolio‡ | 35049205 | 244643451 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 1615299132 |
|  **Total Investments in Securities (100.1%)**<br> *(Cost $1,729,358,563)* | **Total Investments in Securities (100.1%)**<br> *(Cost $1,729,358,563)* | 1805966886 |
|  **Other Assets Less Liabilities (-0.1%)** | **Other Assets Less Liabilities (-0.1%)** | (1457413) |
|  **Net Assets (100%)** |  | $1804509473 |

---

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

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

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/ULTRA CONSERVATIVE STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/2000 Managed Volatility Portfolio | 1962043 | 41145088 | 13971020 | (17781720) | 1111829 | 3384542 | 41830759 |  |  |
|  EQ/400 Managed Volatility Portfolio | 383018 | 6993613 | 2927102 | (1278172) | 5334 | 544555 | 9192432 |  |  |
|  EQ/500 Managed Volatility Portfolio | 3298957 | 116116979 | 29977551 | (47654300) | 2803615 | 12009337 | 113253182 |  |  |
|  EQ/International Managed Volatility Portfolio | 1575605 | 23791068 | 7862612 | (10769032) | 1124936 | 4381797 | 26391381 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  EQ/Intermediate Corporate Bond Portfolio | 16330141 | 187844983 | 33375673 | (61814192) | 1650441 | 12695798 | 173752703 |  |  |
|  EQ/Intermediate Government Bond Portfolio | 120412774 | 1215164665 | 265313346 | (342550095) | (344154) | 59319216 | 1196902978 |  |  |
|  EQ/Long-Term Bond Portfolio | 35049205 | 241393768 | 57013509 | (69021288) | 227486 | 15029976 | 244643451 |  |  |
|  **Total** |  | **1832450164** | **410440813** | **(550868799)** | **6579487** | **107365221** | **1805966886** |  |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/ULTRA CONSERVATIVE STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $— | $1805966886 | $— | $1805966886 |
|  **Total Assets** | $**—** | $**1805966886** | $**—** | $**1805966886** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**—** | $**1805966886** | $**—** | $**1805966886** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $96258860 |
|  Aggregate gross unrealized depreciation | (21148581) |
|  Net unrealized appreciation | $75110279 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1730856607 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CONSERVATIVE STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (20.6%)** |  |  |
|  EQ/2000 Managed Volatility Portfolio‡ | 1168559 | $24913678 |
|  EQ/400 Managed Volatility Portfolio‡ | 237263 | 5694310 |
|  EQ/500 Managed Volatility Portfolio‡ | 1974201 | 67774328 |
|  EQ/International Managed Volatility Portfolio‡ | 934299 | 15649515 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 114031831 |
|  **Fixed Income (79.3%)** |  |  |
|  EQ/AB Short Duration Government Bond Portfolio‡ | 3729607 | 38041989 |
|  EQ/Core Bond Index Portfolio‡ | 17430035 | 169071339 |
|  EQ/Intermediate Corporate Bond Portfolio‡ | 8124820 | 86448084 |
|  EQ/Intermediate Government Bond Portfolio‡ | 8864536 | 88113485 |
|  EQ/Long-Term Bond Portfolio‡ | 8294359 | 57894626 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 439569523 |
|  **Total Investments in Securities (99.9%)**<br> *(Cost $520,064,912)* | **Total Investments in Securities (99.9%)**<br> *(Cost $520,064,912)* | 553601354 |
|  **Other Assets Less Liabilities (0.1%)** | **Other Assets Less Liabilities (0.1%)** | 823048 |
|  **Net Assets (100%)** |  | $554424402 |

---

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

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

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CONSERVATIVE STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September<br>30, 2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds**<br>**from**<br>**Sales ($)** | **Net**<br>**Realized<br>Gain**<br>**(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income**<br>**($)** | **Capital Gain**<br>**Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/2000 Managed Volatility Portfolio | 1168559 | 24173265 | 5310826 | (6806012) | 458413 | 1777186 | 24913678 |  |  |
|  EQ/400 Managed Volatility Portfolio | 237263 | 6005845 | 533518 | (956892) | (175) | 112014 | 5694310 |  |  |
|  EQ/500 Managed Volatility Portfolio | 1974201 | 69477410 | 8742205 | (17682699) | 307692 | 6929720 | 67774328 |  |  |
|  EQ/International Managed Volatility Portfolio | 934299 | 14646898 | 2200553 | (4070675) | 489711 | 2383028 | 15649515 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  EQ/AB Short Duration Government Bond Portfolio | 3729607 | 40157053 | 3284620 | (6698241) | 9309 | 1289248 | 38041989 |  |  |
|  EQ/Core Bond Index Portfolio | 17430035 | 175433619 | 13872273 | (29185193) | (1095522) | 10046162 | 169071339 |  |  |
|  EQ/Intermediate Corporate Bond Portfolio | 8124820 | 88117687 | 6719516 | (14831819) | 159363 | 6283337 | 86448084 |  |  |
|  EQ/Intermediate Government Bond Portfolio | 8864536 | 99867729 | 6719515 | (22731819) | (1161391) | 5419451 | 88113485 |  |  |
|  EQ/Long-Term Bond Portfolio | 8294359 | 51417326 | 13768688 | (10525807) | (222663) | 3457082 | 57894626 |  |  |
|  **Total** |  | **569296832** | **61151714** | **(113489157)** | **(1055263)** | **37697228** | **553601354** |  |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CONSERVATIVE STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical**<br>**Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $— | $553601354 | $— | $553601354 |
|  **Total Assets** | $**—** | $**553601354** | $**—** | $**553601354** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**—** | $**553601354** | $**—** | $**553601354** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $69106223 |
|  Aggregate gross unrealized depreciation | (36316443) |
|  Net unrealized appreciation | $32789780 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $520811574 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CONSERVATIVE GROWTH STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (40.7%)** |  |  |
|  EQ/2000 Managed Volatility Portfolio‡ | 4764775 | $101585003 |
|  EQ/400 Managed Volatility Portfolio‡ | 738724 | 17729384 |
|  EQ/500 Managed Volatility Portfolio‡ | 7690033 | 263998847 |
|  EQ/International Managed Volatility Portfolio‡ | 3624012 | 60702203 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 444015437 |
|  **Fixed Income (59.3%)** |  |  |
|  EQ/AB Short Duration Government Bond Portfolio‡ | 5821205 | 59376294 |
|  EQ/Core Bond Index Portfolio‡ | 24510002 | 237747016 |
|  EQ/Intermediate Corporate Bond Portfolio‡ | 11121978 | 118337845 |
|  EQ/Intermediate Government Bond Portfolio‡ | 11953716 | 118819938 |
|  EQ/Long-Term Bond Portfolio‡ | 16234623 | 113317666 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 647598759 |
|  **Total Investments in Securities (100.0%**)<br>*(Cost $908,783,374)* | **Total Investments in Securities (100.0%**)<br>*(Cost $908,783,374)* | 1091614196 |
|  **Other Assets Less Liabilities (0.0%)†** | **Other Assets Less Liabilities (0.0%)†** | 19758 |
|  **Net Assets (100%)** |  | $1091633954 |

---

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

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

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

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CONSERVATIVE GROWTH STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September<br>30, 2025** | **Market Value<br>December 31,<br>2024($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds**<br>**from**<br>**Sales ($)** | **Net**<br>**Realized**<br>**Gain**<br>**(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/2000 Managed Volatility Portfolio | 4764775 | 104707363 | 10645090 | (21515455) | 285128 | 7462877 | 101585003 |  |  |
|  EQ/400 Managed Volatility Portfolio | 738724 | 18816315 | 974182 | (2419243) | (23387) | 381517 | 17729384 |  |  |
|  EQ/500 Managed Volatility Portfolio | 7690033 | 269576501 | 19486910 | (52607881) | 290115 | 27253202 | 263998847 |  |  |
|  EQ/International Managed Volatility Portfolio | 3624012 | 58384970 | 3096727 | (11876970) | 1888622 | 9208854 | 60702203 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  EQ/AB Short Duration Government Bond Portfolio | 5821205 | 63614124 | 3388666 | (9653889) | (1443) | 2028836 | 59376294 |  |  |
|  EQ/Core Bond Index Portfolio | 24510002 | 250740504 | 14596606 | (40242477) | (458379) | 13110762 | 237747016 |  |  |
|  EQ/Intermediate Corporate Bond Portfolio | 11121978 | 126634899 | 2127333 | (19407779) | 38861 | 8944531 | 118337845 |  |  |
|  EQ/Intermediate Government Bond Portfolio | 11953716 | 132336293 | 6977334 | (26157779) | (1415039) | 7079129 | 118819938 |  |  |
|  EQ/Long-Term Bond Portfolio | 16234623 | 107078423 | 13719274 | (14134698) | (302638) | 6957305 | 113317666 |  |  |
|  **Total** |  | **1131889392** | **75012122** | **(198016171)** | **301840** | **82427013** | **1091614196** |  |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CONSERVATIVE GROWTH STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $— | $1091614196 | $— | $1091614196 |
|  **Total Assets** | $**—** | $**1091614196** | $**—** | $**1091614196** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**—** | $**1091614196** | $**—** | $**1091614196** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $236800294 |
|  Aggregate gross unrealized depreciation | (56343990) |
|  Net unrealized appreciation | $180456304 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $911157892 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/BALANCED STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (50.7%)** |  |  |
|  EQ/2000 Managed Volatility Portfolio‡ | 17391469 | $370786121 |
|  EQ/400 Managed Volatility Portfolio‡ | 2583517 | 62004411 |
|  EQ/500 Managed Volatility Portfolio‡ | 28097438 | 964585033 |
|  EQ/International Managed Volatility Portfolio‡ | 13198552 | 221075741 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 1618451306 |
|  **Fixed Income (49.3%)** |  |  |
|  EQ/AB Short Duration Government Bond Portfolio‡ | 12350636 | 125976490 |
|  EQ/Core Bond Index Portfolio‡ | 58353005 | 566024148 |
|  EQ/Intermediate Corporate Bond Portfolio‡ | 26625409 | 283294347 |
|  EQ/Intermediate Government Bond Portfolio‡ | 28512008 | 283409364 |
|  EQ/Long-Term Bond Portfolio‡ | 45085270 | 314695185 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 1573399534 |
|  **Total Investments in Securities (100.0%**)<br>*(Cost $2,554,103,626)* | **Total Investments in Securities (100.0%**)<br>*(Cost $2,554,103,626)* | 3191850840 |
|  **Other Assets Less Liabilities (0.0%)†** | **Other Assets Less Liabilities (0.0%)†** | (805676) |
|  **Net Assets (100%)** |  | $3191045164 |

---

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

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

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

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/BALANCED STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September<br>30, 2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds**<br>**from**<br>**Sales ($)** | **Net**<br>**Realized<br>Gain**<br>**(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/2000 Managed Volatility Portfolio | 17391469 | 371533818 | 35407543 | (64342820) | (63453) | 28251033 | 370786121 |  |  |
|  EQ/400 Managed Volatility Portfolio | 2583517 | 65881363 | 1928645 | (6944149) | (36912) | 1175464 | 62004411 |  |  |
|  EQ/500 Managed Volatility Portfolio | 28097438 | 971782224 | 48679661 | (155262235) | 64398 | 99320985 | 964585033 |  |  |
|  EQ/International Managed Volatility Portfolio | 13198552 | 205424633 | 9457415 | (33815559) | 1237516 | 38771736 | 221075741 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  EQ/AB Short Duration Government Bond Portfolio | 12350636 | 135195778 | 9657289 | (23188298) | 7566 | 4304155 | 125976490 |  |  |
|  EQ/Core Bond Index Portfolio | 58353005 | 593329909 | 37800634 | (95336304) | 308133 | 29921776 | 566024148 |  |  |
|  EQ/Intermediate Corporate Bond Portfolio | 26625409 | 296318666 | 10328898 | (44698671) | 164479 | 21180975 | 283294347 |  |  |
|  EQ/Intermediate Government Bond Portfolio | 28512008 | 298198524 | 21778898 | (49798671) | (2092558) | 15323171 | 283409364 |  |  |
|  EQ/Long-Term Bond Portfolio | 45085270 | 298661388 | 28793220 | (31220745) | (315681) | 18777003 | 314695185 |  |  |
|  **Total** |  | **3236326303** | **203832203** | **(504607452)** | **(726512)** | **257026298** | **3191850840** |  |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/BALANCED STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $— | $3191850840 | $— | $3191850840 |
|  **Total Assets** | $**—** | $**3191850840** | $**—** | $**3191850840** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**—** | $**3191850840** | $**—** | $**3191850840** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $780646857 |
|  Aggregate gross unrealized depreciation | (147644577) |
|  Net unrealized appreciation | $633002280 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $2558848560 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/MODERATE GROWTH STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (60.7%)** |  |  |
|  EQ/2000 Managed Volatility Portfolio‡ | 34370111 | $732770759 |
|  EQ/400 Managed Volatility Portfolio‡ | 5049996 | 121199904 |
|  EQ/500 Managed Volatility Portfolio‡ | 55591471 | 1908455193 |
|  EQ/International Managed Volatility Portfolio‡ | 26037812 | 436133359 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 3198559215 |
|  **Fixed Income (39.3%)** |  |  |
|  EQ/AB Short Duration Government Bond Portfolio‡ | 12729040 | 129836206 |
|  EQ/Core Bond Index Portfolio‡ | 77218706 | 749021448 |
|  EQ/Intermediate Corporate Bond Portfolio‡ | 35221884 | 374760851 |
|  EQ/Intermediate Government Bond Portfolio‡ | 37743560 | 375170988 |
|  EQ/Long-Term Bond Portfolio‡ | 63032042 | 439963657 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 2068753150 |
|  **Total Investments in Securities (100.0%**)<br>*(Cost $3,823,230,909)* | **Total Investments in Securities (100.0%**)<br>*(Cost $3,823,230,909)* | 5267312365 |
|  **Other Assets Less Liabilities (0.0%)†** | **Other Assets Less Liabilities (0.0%)†** | 228422 |
|  **Net Assets (100%)** |  | $5267540787 |

---

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

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

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

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/MODERATE GROWTH STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds**<br>**from**<br>**Sales ($)** | **Net**<br>**Realized<br>Gain**<br>**(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain**<br>**Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/2000 Managed Volatility Portfolio | 34370111 | 736287921 | 64944996 | (124025641) | (355319) | 55918802 | 732770759 |  |  |
|  EQ/400 Managed Volatility Portfolio | 5049996 | 136607706 | 85576 | (17120316) | (82352) | 1709290 | 121199904 |  |  |
|  EQ/500 Managed Volatility Portfolio | 55591471 | 1965305222 | 63632295 | (314932543) | (653785) | 195104004 | 1908455193 |  |  |
|  EQ/International Managed Volatility Portfolio | 26037812 | 411068536 | 14608074 | (69033136) | 11355296 | 68134589 | 436133359 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  EQ/AB Short Duration Government Bond Portfolio | 12729040 | 143275602 | 11585577 | (29520316) | 14804 | 4480539 | 129836206 |  |  |
|  EQ/Core Bond Index Portfolio | 77218706 | 798987782 | 56479226 | (146773767) | (101748) | 40429955 | 749021448 |  |  |
|  EQ/Intermediate Corporate Bond Portfolio | 35221884 | 403973664 | 16498171 | (74198915) | 401740 | 28086191 | 374760851 |  |  |
|  EQ/Intermediate Government Bond Portfolio | 37743560 | 402991689 | 32698170 | (78198915) | (2014658) | 19694702 | 375170988 |  |  |
|  EQ/Long-Term Bond Portfolio | 63032042 | 422141736 | 43290959 | (51409073) | (502783) | 26442818 | 439963657 |  |  |
|  **Total** |  | **5420639858** | **303823044** | **(905212622)** | **8061195** | **440000890** | **5267312365** |  |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/MODERATE GROWTH STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical**<br>**Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $— | $5267312365 | $— | $5267312365 |
|  **Total Assets** | $**—** | $**5267312365** | $**—** | $**5267312365** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**—** | $**5267312365** | $**—** | $**5267312365** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $1644456384 |
|  Aggregate gross unrealized depreciation | (206546818) |
|  Net unrealized appreciation | $1437909566 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $3829402799 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/GROWTH STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (70.7%)** |  |  |
|  EQ/2000 Managed Volatility Portfolio‡ | 36377008 | $775557814 |
|  EQ/400 Managed Volatility Portfolio‡ | 4857915 | 116589968 |
|  EQ/500 Managed Volatility Portfolio‡ | 58287213 | 2001000037 |
|  EQ/International Managed Volatility Portfolio‡ | 27088309 | 453729173 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 3346876992 |
|  **Fixed Income (29.3%)** |  |  |
|  EQ/AB Short Duration Government Bond Portfolio‡ | 9030204 | 92108082 |
|  EQ/Core Bond Index Portfolio‡ | 50438819 | 489256543 |
|  EQ/Intermediate Corporate Bond Portfolio‡ | 22977329 | 244478776 |
|  EQ/Intermediate Government Bond Portfolio‡ | 24620215 | 244724936 |
|  EQ/Long-Term Bond Portfolio‡ | 45009202 | 314164231 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 1384732568 |
|  **Total Investments in Securities (100.0%**)<br>*(Cost $3,396,127,221)* | **Total Investments in Securities (100.0%**)<br>*(Cost $3,396,127,221)* | 4731609560 |
|  **Other Assets Less Liabilities (0.0%)†** | **Other Assets Less Liabilities (0.0%)†** | (1367980) |
|  **Net Assets (100%)** |  | $4730241580 |

---

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

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

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

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/GROWTH STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September<br>30, 2025** | **Market Value<br>December 31,<br>2024($)** | **Purchases at<br>Cost ($)** | **Proceeds from<br>Sales ($)** | **Net Realized<br>Gain (Loss)<br>($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain**<br>**Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/2000 Managed Volatility Portfolio | 36377008 | 754089490 | 60288107 | (97755154) | 202844 | 58732527 | 775557814 |  |  |
|  EQ/400 Managed Volatility Portfolio | 4857915 | 128420853 | 122083 | (13666237) | (88787) | 1802056 | 116589968 |  |  |
|  EQ/500 Managed Volatility Portfolio | 58287213 | 2019467715 | 30753448 | (250314689) | (2014510) | 203108073 | 2001000037 |  |  |
|  EQ/International Managed Volatility Portfolio | 27088309 | 411821314 | 15366137 | (54743814) | 6029472 | 75256064 | 453729173 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  EQ/AB Short Duration Government Bond Portfolio | 9030204 | 100637863 | 9088788 | (20784536) | 1070 | 3164897 | 92108082 |  |  |
|  EQ/Core Bond Index Portfolio | 50438819 | 508647306 | 42955038 | (88333247) | 1249743 | 24737703 | 489256543 |  |  |
|  EQ/Intermediate Corporate Bond Portfolio | 22977329 | 257892285 | 12983069 | (44771907) | 183949 | 18191380 | 244478776 |  |  |
|  EQ/Intermediate Government Bond Portfolio | 24620215 | 255882479 | 23483068 | (46021907) | (428361) | 11809657 | 244724936 |  |  |
|  EQ/Long-Term Bond Portfolio | 45009202 | 294411278 | 30199659 | (28635309) | (212838) | 18401441 | 314164231 |  |  |
|  **Total** |  | **4731270583** | **225239397** | **(645026800)** | **4922582** | **415203798** | **4731609560** |  |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/GROWTH STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $— | $4731609560 | $— | $4731609560 |
|  **Total Assets** | $**—** | $**4731609560** | $**—** | $**4731609560** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**—** | $**4731609560** | $**—** | $**4731609560** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $1466602663 |
|  Aggregate gross unrealized depreciation | (135457403) |
|  Net unrealized appreciation | $1331145260 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $3400464300 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AGGRESSIVE GROWTH STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (80.7%)** |  |  |
|  EQ/2000 Managed Volatility Portfolio‡ | 50438822 | $1075355682 |
|  EQ/400 Managed Volatility Portfolio‡ | 6459075 | 155017793 |
|  EQ/500 Managed Volatility Portfolio‡ | 80798531 | 2773813584 |
|  EQ/International Managed Volatility Portfolio‡ | 37240769 | 623782888 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 4627969947 |
|  **Fixed Income (19.3%)** |  |  |
|  EQ/AB Short Duration |  |  |
|  Government Bond Portfolio‡ | 6761744 | 68969792 |
|  EQ/Core Bond Index Portfolio‡ | 39849654 | 386541644 |
|  EQ/Intermediate Corporate Bond Portfolio‡ | 18145601 | 193069191 |
|  EQ/Intermediate Government Bond Portfolio‡ | 19434057 | 193174530 |
|  EQ/Long-Term Bond Portfolio‡ | 37579118 | 262302246 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 1104057403 |
|  **Total Investments in Securities (100.0%)**<br> *(Cost $4,369,688,538)* |  | 5732027350 |
|  **Other Assets Less Liabilities (0.0%)†** |  | (1846920) |
|  **Net Assets (100%)** |  | $5730180430 |

---

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

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

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

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AGGRESSIVE GROWTH STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds**<br>**from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/2000 Managed Volatility Portfolio | 50438822 | 1005363318 | 69779325 | (83552753) | 118677 | 83647115 | 1075355682 |  |  |
|  EQ/400 Managed Volatility Portfolio | 6459075 | 162991699 | 1662170 | (12357615) | 8231 | 2713308 | 155017793 |  |  |
|  EQ/500 Managed Volatility Portfolio | 80798531 | 2727091178 | 21294719 | (249621836) | 1428279 | 273621244 | 2773813584 |  |  |
|  EQ/International Managed Volatility Portfolio | 37240769 | 546020273 | 20148680 | (52630459) | 3773283 | 106471111 | 623782888 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  EQ/AB Short Duration Government Bond Portfolio | 6761744 | 75580940 | 6684237 | (15682339) | 4921 | 2382033 | 68969792 |  |  |
|  EQ/Core Bond Index Portfolio | 39849654 | 392301901 | 35218035 | (61308165) | 580646 | 19749227 | 386541644 |  |  |
|  EQ/Intermediate Corporate Bond Portfolio | 18145601 | 197558008 | 11255866 | (30050551) | 34862 | 14271006 | 193069191 |  |  |
|  EQ/Intermediate Government Bond Portfolio | 19434057 | 195551828 | 19255865 | (30500551) | 437924 | 8429464 | 193174530 |  |  |
|  EQ/Long-Term Bond Portfolio | 37579118 | 236690613 | 28540102 | (17982890) | (92130) | 15146551 | 262302246 |  |  |
|  **Total** |  | **5539149758** | **213838999** | **(553687159)** | **6294693** | **526431059** | **5732027350** |  |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AGGRESSIVE GROWTH STRATEGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $— | $5732027350 | $— | $5732027350 |
|  **Total Assets** | $**—** | $**5732027350** | $**—** | $**5732027350** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**—** | $**5732027350** | $**—** | $**5732027350** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $1452020048 |
|  Aggregate gross unrealized depreciation | (100025635) |
|  Net unrealized appreciation | $1351994413 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $4380032937 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CONSERVATIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (20.6%)** |  |  |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund‡ | 101938 | $2170255 |
|  1290 VT Equity Income Portfolio‡ | 456191 | 2436060 |
|  1290 VT GAMCO Small Company Value Portfolio‡ | 18402 | 1474031 |
|  1290 VT Micro Cap Portfolio‡ | 143220 | 1677101 |
|  ATM International Managed Volatility Portfolio‡ | 696606 | 8540395 |
|  ATM Large Cap Managed Volatility Portfolio‡ | 2608523 | 41475516 |
|  ATM Mid Cap Managed Volatility Portfolio‡ | 1445357 | 11866380 |
|  ATM Small Cap Managed Volatility Portfolio‡ | 387592 | 4499941 |
|  EQ/AB Small Cap Growth Portfolio‡ | 147240 | 2763700 |
|  EQ/American Century Mid Cap Value Portfolio‡ | 95322 | 2247701 |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio‡ | 469941 | 6236121 |
|  EQ/Global Equity Managed Volatility Portfolio‡ | 167285 | 3094767 |
|  EQ/International Core Managed Volatility Portfolio‡ | 164038 | 2106243 |
|  EQ/International Equity Index Portfolio‡ | 72744 | 1003864 |
|  EQ/International Value Managed Volatility Portfolio‡ | 201622 | 3131197 |
|  EQ/Janus Enterprise Portfolio‡ | 193113 | 4630846 |
|  EQ/JPMorgan Growth Stock Portfolio\*‡ | 45501 | 4045949 |
|  EQ/JPMorgan Value Opportunities Portfolio‡ | 114056 | 2448786 |
|  EQ/Large Cap Core Managed Volatility Portfolio‡ | 631411 | 7513794 |
|  EQ/Large Cap Value Managed Volatility Portfolio‡ | 165505 | 3248873 |
|  EQ/Loomis Sayles Growth Portfolio\*‡ | 292537 | 3990201 |
|  EQ/MFS International Growth Portfolio‡ | 286336 | 2525485 |
|  EQ/Morgan Stanley Small Cap Growth Portfolio‡ | 151549 | 1577624 |
|  EQ/Value Equity Portfolio‡ | 97167 | 2398078 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 127102908 |
|  **Fixed Income (79.2%)** |  |  |
|  1290 Diversified Bond Fund‡ | 2896424 | 24561672 |
|  1290 VT DoubleLine Opportunistic Bond Portfolio‡ | 4057229 | 36433912 |
|  1290 VT High Yield Bond Portfolio‡ | 1047317 | 9855249 |
|  EQ/Core Bond Index Portfolio‡ | 10019105 | 97185318 |
|  EQ/Core Plus Bond Portfolio‡ | 8142824 | 29151310 |
|  EQ/Intermediate Government Bond Portfolio‡ | 11890151 | 118188106 |
|  EQ/Long-Term Bond Portfolio‡ | 5487287 | 38301266 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 5516290 | 56210991 |
|  EQ/Quality Bond PLUS Portfolio‡ | 3646113 | 29278284 |
|  Multimanager Core Bond Portfolio‡ | 5561583 | 48663848 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | $487829956 |
|  **Total Investments in Securities (99.8%)**<br> *(Cost $611,350,256)* |  | 614932864 |
|  **Other Assets Less Liabilities (0.2%)** |  | 1050167 |
|  **Net Assets (100%)** |  | $615983031 |

---

*\** *Non-income producing.* 

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

The holdings in affiliated Investment Companies are all Class K shares except for the following: 1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund and 1290 Diversified Bond Fund are Class I shares.

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CONSERVATIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September<br>30, 2025** | **Market<br>Value<br>December<br>31, 2024 ($)** | **Purchases<br>at**<br>**Cost ($)** | **Proceeds<br>from Sales<br>($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market<br>Value<br>September<br>30, 2025 ($)** | **Dividend/<br>Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund | 101938 | 2462621 | 250743 | (853505) | 95037 | 215359 | 2170255 |  |  |
|  1290 VT Equity Income Portfolio | 456191 | 2804524 | 184574 | (864176) | 176504 | 134634 | 2436060 |  |  |
|  1290 VT GAMCO Small Company Value Portfolio | 18402 | 1615117 | 42287 | (332088) | 9878 | 138837 | 1474031 |  |  |
|  1290 VT Micro Cap Portfolio | 143220 | 1695332 | 42287 | (232088) | (3401) | 174971 | 1677101 |  |  |
|  ATM International Managed Volatility Portfolio | 696606 | 8245422 | 828349 | (2058274) | 305670 | 1219228 | 8540395 |  |  |
|  ATM Large Cap Managed Volatility Portfolio | 2608523 | 42578019 | 4341000 | (9662863) | 166537 | 4052823 | 41475516 |  |  |
|  ATM Mid Cap Managed Volatility Portfolio | 1445357 | 12200055 | 1279837 | (1810284) | 27368 | 169404 | 11866380 |  |  |
|  ATM Small Cap Managed Volatility Portfolio | 387592 | 4625924 | 84575 | (464176) | 174 | 253444 | 4499941 |  |  |
|  EQ/AB Small Cap Growth Portfolio | 147240 | 3133716 | 84574 | (614176) | 28610 | 130976 | 2763700 |  |  |
|  EQ/American Century Mid Cap Value Portfolio | 95322 | 2487434 | 50744 | (478505) | 63999 | 124029 | 2247701 |  |  |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio | 469941 | 6451509 | 152232 | (835516) | 30487 | 437409 | 6236121 |  |  |
|  EQ/Global Equity Managed Volatility Portfolio | 167285 | 3063067 | 84575 | (464176) | 55461 | 355840 | 3094767 |  |  |
|  EQ/International Core Managed Volatility Portfolio | 164038 | 2032256 | 50745 | (378505) | 112110 | 289637 | 2106243 |  |  |
|  EQ/International Equity Index Portfolio | 72744 | 795060 |  |  |  | 208804 | 1003864 |  |  |
|  EQ/International Value Managed Volatility Portfolio | 201622 | 2992363 | 84574 | (554176) | 112908 | 495528 | 3131197 |  |  |
|  EQ/Janus Enterprise Portfolio | 193113 | 5094190 | 426862 | (1221263) | 132734 | 198323 | 4630846 |  |  |
|  EQ/JPMorgan Growth Stock Portfolio \* | 45501 | 3891953 | 501489 | (1007011) | 170768 | 488750 | 4045949 |  |  |
|  EQ/JPMorgan Value Opportunities Portfolio | 114056 | 2826302 | 384574 | (1064176) | 155085 | 147001 | 2448786 |  |  |
|  EQ/Large Cap Core Managed Volatility Portfolio | 631411 | 7835861 | 211434 | (1160439) | (21236) | 648174 | 7513794 |  |  |
|  EQ/Large Cap Value Managed Volatility Portfolio | 165505 | 3766114 | 609946 | (1413428) | 151092 | 135149 | 3248873 |  |  |
|  EQ/Loomis Sayles Growth Portfolio \* | 292537 | 4019617 | 501489 | (1232011) | 105446 | 595660 | 3990201 |  |  |
|  EQ/MFS International Growth Portfolio | 286336 | 2960449 | 401488 | (1362011) | 405559 | 120000 | 2525485 |  |  |
|  EQ/Morgan Stanley Small Cap Growth Portfolio | 151549 | 1736141 | 42287 | (407088) | (24222) | 230506 | 1577624 |  |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CONSERVATIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds**<br>**from**<br>**Sales ($)** | **Net**<br>**Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/<br>Interest<br>Income**<br>**($)** | **Capital Gain<br>Distributions<br>($)** |
|  EQ/Value Equity Portfolio | 97167 | 2766977 | 384574 | (1029176) | 295515 | (19812) | 2398078 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 2896424 | 27851233 | 1903372 | (6353404) | (393509) | 1553980 | 24561672 | 1287484 |  |
|  1290 VT DoubleLine Opportunistic Bond Portfolio | 4057229 | 38691611 | 1014882 | (5570105) | (395683) | 2693207 | 36433912 |  |  |
|  1290 VT High Yield Bond Portfolio | 1047317 | 11210890 | 270634 | (2265361) | (30314) | 669400 | 9855249 |  |  |
|  EQ/Core Bond Index Portfolio | 10019105 | 101921582 | 4806356 | (14853614) | 78415 | 5232579 | 97185318 |  |  |
|  EQ/Core Plus Bond Portfolio | 8142824 | 30508984 | 811907 | (4456084) | (488717) | 2775220 | 29151310 |  |  |
|  EQ/Intermediate Government Bond Portfolio | 11890151 | 124891792 | 7559171 | (19877920) | 27156 | 5587907 | 118188106 |  |  |
|  EQ/Long-Term Bond Portfolio | 5487287 | 40579812 | 1448712 | (6035775) | (1516287) | 3824804 | 38301266 |  |  |
|  EQ/PIMCO Ultra Short Bond Portfolio | 5516290 | 60053448 | 3956155 | (9840828) | (7388) | 2049604 | 56210991 |  |  |
|  EQ/Quality Bond PLUS Portfolio | 3646113 | 30905924 | 1751906 | (4956084) | (262865) | 1839403 | 29278284 |  |  |
|  Multimanager Core Bond Portfolio | 5561583 | 51385499 | 3098398 | (7426807) | (622522) | 2229280 | 48663848 | 1370124 |  |
|  **Total** |  | **650080798** | **37646732** | **(111135093)** | **(1059631)** | **39400058** | **614932864** | **2657608** |  |

---

*\** *Non-income producing.* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CONSERVATIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $26731927 | $588200937 | $— | $614932864 |
|  **Total Assets** | $**26731927** | $**588200937** | $**—** | $**614932864** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**26731927** | $**588200937** | $**—** | $**614932864** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $53603504 |
|  Aggregate gross unrealized depreciation | (51703197) |
|  Net unrealized appreciation | $1900307 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $613032557 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CONSERVATIVE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (40.8%)** |  |  |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund‡ | 199823 | $4254240 |
|  1290 VT Equity Income Portfolio‡ | 1095795 | 5851547 |
|  1290 VT GAMCO Small Company Value Portfolio‡ | 50007 | 4005555 |
|  1290 VT Micro Cap Portfolio‡ | 357764 | 4189418 |
|  1290 VT Small Cap Value Portfolio‡ | 281543 | 3555894 |
|  ATM International Managed Volatility Portfolio‡ | 2382176 | 29205481 |
|  ATM Large Cap Managed Volatility Portfolio‡ | 5599762 | 89036216 |
|  ATM Mid Cap Managed Volatility Portfolio‡ | 2402327 | 19723107 |
|  ATM Small Cap Managed Volatility Portfolio‡ | 1747081 | 20283615 |
|  EQ/AB Small Cap Growth Portfolio‡ | 515669 | 9679105 |
|  EQ/American Century Mid Cap Value Portfolio‡ | 120772 | 2847804 |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio‡ | 1028318 | 13645773 |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio‡ | 137581 | 2037577 |
|  EQ/Global Equity Managed Volatility Portfolio‡ | 557638 | 10316311 |
|  EQ/International Core Managed Volatility Portfolio‡ | 541782 | 6956484 |
|  EQ/International Equity Index Portfolio‡ | 99408 | 1371827 |
|  EQ/International Value Managed Volatility Portfolio‡ | 664754 | 10323629 |
|  EQ/Janus Enterprise Portfolio‡ | 330657 | 7929159 |
|  EQ/JPMorgan Growth Stock Portfolio\*‡ | 91666 | 8150982 |
|  EQ/JPMorgan Value Opportunities Portfolio‡ | 270805 | 5814177 |
|  EQ/Large Cap Core Managed Volatility Portfolio‡ | 1388236 | 16520011 |
|  EQ/Large Cap Value Managed Volatility Portfolio‡ | 397107 | 7795209 |
|  EQ/Loomis Sayles Growth Portfolio\*‡ | 592049 | 8075550 |
|  EQ/MFS International Growth Portfolio‡ | 1196844 | 10556161 |
|  EQ/Morgan Stanley Small Cap Growth Portfolio‡ | 522193 | 5436029 |
|  EQ/Value Equity Portfolio‡ | 234202 | 5780101 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 313340962 |
|  **Fixed Income (59.1%)** |  |  |
|  1290 Diversified Bond Fund‡ | 2656976 | 22531154 |
|  1290 VT DoubleLine Opportunistic Bond Portfolio‡ | 3772074 | 33873227 |
|  1290 VT High Yield Bond Portfolio‡ | 973707 | 9162586 |
|  EQ/Core Bond Index Portfolio‡ | 8890067 | 86233654 |
|  EQ/Core Plus Bond Portfolio‡ | 7550827 | 27031962 |
|  EQ/Intermediate Government Bond Portfolio‡ | 10395720 | 103333458 |
|  EQ/Long-Term Bond Portfolio‡ | 7713914 | 53843119 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 4462203 | 45469851 |
|  EQ/Quality Bond PLUS Portfolio‡ | 3393775 | 27252015 |
|  Multimanager Core Bond Portfolio‡ | 5196256 | 45467238 |
|  Total Fixed Income |  | 454198264 |
|  **Total Investments in Securities (99.9%)**<br> *(Cost $698,077,248)* |  | 767539226 |
|  **Other Assets Less Liabilities (0.1%)** |  | 1127534 |
|  **Net Assets (100%)** |  | $768666760 |

---

*\** *Non-income producing.* 

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

The holdings in affiliated Investment Companies are all Class K shares except for the following: 1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund and 1290 Diversified Bond Fund are Class I shares.

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CONSERVATIVE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market<br>Value<br>December<br>31, 2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds<br>from Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market<br>Value<br>September<br>30, 2025 ($)** | **Dividend/<br>Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund | 199823 | 4076029 | 264553 | (666649) | 65245 | 515062 | 4254240 |  |  |
|  1290 VT Equity Income Portfolio | 1095795 | 6668347 | 182740 | (1709963) | 319944 | 390479 | 5851547 |  |  |
|  1290 VT GAMCO Small Company Value Portfolio | 50007 | 4336365 | 21828 | (749976) | 318444 | 78894 | 4005555 |  |  |
|  1290 VT Micro Cap Portfolio | 357764 | 3991950 | 114551 | (366650) | 2173 | 447394 | 4189418 |  |  |
|  1290 VT Small Cap Value Portfolio | 281543 | 4263607 | 18190 | (958313) | 272255 | (39845) | 3555894 |  |  |
|  ATM International Managed Volatility Portfolio | 2382176 | 28078054 | 1138242 | (4983179) | 717884 | 4254480 | 29205481 |  |  |
|  ATM Large Cap Managed Volatility Portfolio | 5599762 | 90879030 | 6507451 | (17116212) | 110733 | 8655214 | 89036216 |  |  |
|  ATM Mid Cap Managed Volatility Portfolio | 2402327 | 19364163 | 2137311 | (2199903) | (14597) | 436133 | 19723107 |  |  |
|  ATM Small Cap Managed Volatility Portfolio | 1747081 | 20822548 | 1601862 | (3441553) | (37270) | 1338028 | 20283615 |  |  |
|  EQ/AB Small Cap Growth Portfolio | 515669 | 10119655 | 643655 | (1799951) | 142776 | 572970 | 9679105 |  |  |
|  EQ/American Century Mid Cap Value Portfolio | 120772 | 3163167 | 14552 | (566650) | 138494 | 98241 | 2847804 |  |  |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio | 1028318 | 14049523 | 58208 | (1466602) | 50223 | 954421 | 13645773 |  |  |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio | 137581 | 2393809 | 14552 | (441650) | 144292 | (73426) | 2037577 |  |  |
|  EQ/Global Equity Managed Volatility Portfolio | 557638 | 10153409 | 49112 | (1237445) | 153143 | 1198092 | 10316311 |  |  |
|  EQ/International Core Managed Volatility Portfolio | 541782 | 6650259 | 32741 | (1024963) | 325265 | 973182 | 6956484 |  |  |
|  EQ/International Equity Index Portfolio | 99408 | 1086487 |  |  |  | 285340 | 1371827 |  |  |
|  EQ/International Value Managed Volatility Portfolio | 664754 | 9829025 | 49111 | (1537445) | 168041 | 1814897 | 10323629 |  |  |
|  EQ/Janus Enterprise Portfolio | 330657 | 7866663 | 1334560 | (1870795) | 110915 | 487816 | 7929159 |  |  |
|  EQ/JPMorgan Growth Stock Portfolio \* | 91666 | 8211679 | 532742 | (1849963) | 385484 | 871040 | 8150982 |  |  |
|  EQ/JPMorgan Value Opportunities Portfolio | 270805 | 6691190 | 582742 | (2134963) | 282102 | 393106 | 5814177 |  |  |
|  EQ/Large Cap Core Managed Volatility Portfolio | 1388236 | 17015942 | 76396 | (1924915) | (66194) | 1418782 | 16520011 |  |  |
|  EQ/Large Cap Value Managed Volatility Portfolio | 397107 | 9070131 | 743656 | (2629951) | 716726 | (105353) | 7795209 |  |  |
|  EQ/Loomis Sayles Growth Portfolio \* | 592049 | 8318324 | 532741 | (2099963) | 178219 | 1146229 | 8075550 |  |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CONSERVATIVE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases at**<br>**Cost ($)** | **Proceeds from<br>Sales ($)** | **Net**<br>**Realized<br>Gain (Loss)<br>($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/<br>Interest<br>Income ($)** | **Capital Gain<br>Distributions<br>($)** |
|  EQ/MFS International Growth Portfolio | 1196844 | 11215786 | 1158207 | (3816602) | 1093738 | 905032 | 10556161 |  |  |
|  EQ/Morgan Stanley Small Cap Growth Portfolio | 522193 | 5642580 | 321828 | (1299976) | 4847 | 766750 | 5436029 |  |  |
|  EQ/Value Equity Portfolio | 234202 | 6533663 | 632741 | (1999963) | 707713 | (94053) | 5780101 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 2656976 | 24226536 | 1680282 | (4424870) | (135222) | 1184428 | 22531154 | 1126935 |  |
|  1290 VT DoubleLine Opportunistic Bond Portfolio | 3772074 | 35361621 | 1388708 | (4974817) | (270546) | 2368261 | 33873227 |  |  |
|  1290 VT High Yield Bond Portfolio | 973707 | 9978916 | 43655 | (1449951) | (3163) | 593129 | 9162586 |  |  |
|  EQ/Core Bond Index Portfolio | 8890067 | 89496247 | 5514727 | (13399538) | 42842 | 4579376 | 86233654 |  |  |
|  EQ/Core Plus Bond Portfolio | 7550827 | 28011768 | 630966 | (3699854) | (330346) | 2419428 | 27031962 |  |  |
|  EQ/Intermediate Government Bond |  |  |  |  |  |  |  |  |  |
|  Portfolio | 10395720 | 108161157 | 7464305 | (17128631) | 24578 | 4812049 | 103333458 |  |  |
|  EQ/Long-Term Bond Portfolio | 7713914 | 55659909 | 1679658 | (6741383) | (1353060) | 4597995 | 53843119 |  |  |
|  EQ/PIMCO Ultra Short Bond Portfolio | 4462203 | 48060599 | 3443277 | (7649756) | (162546) | 1778277 | 45469851 |  |  |
|  EQ/Quality Bond PLUS Portfolio | 3393775 | 29668067 | 1755966 | (5649854) | (310868) | 1788704 | 27252015 |  |  |
|  Multimanager Core Bond Portfolio | 5196256 | 47196770 | 3741132 | (6949756) | (543816) | 2022908 | 45467238 | 1251931 |  |
|  **Total** |  | **796312975** | **46106948** | **(131962605)** | **3248448** | **53833460** | **767539226** | **2378866** |  |

---

*\** *Non-income producing.* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CONSERVATIVE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $26785394 | $740753832 | $— | $767539226 |
|  **Total Assets** | $**26785394** | $**740753832** | $**—** | $**767539226** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**26785394** | $**740753832** | $**—** | $**767539226** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $125606673 |
|  Aggregate gross unrealized depreciation | (57432392) |
|  Net unrealized appreciation | $68174281 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $699364945 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (50.9%)** |  |  |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund‡ | 1369043 | $29146926 |
|  1290 VT Equity Income Portfolio‡ | 9238220 | 49332096 |
|  1290 VT GAMCO Small Company Value Portfolio‡ | 554118 | 44384876 |
|  1290 VT Micro Cap Portfolio‡ | 3274017 | 38338741 |
|  1290 VT Small Cap Value Portfolio‡ | 2987207 | 37728420 |
|  ATM International Managed Volatility Portfolio‡ | 25569611 | 313483431 |
|  ATM Large Cap Managed Volatility Portfolio‡ | 42131254 | 669886941 |
|  ATM Mid Cap Managed Volatility Portfolio‡ | 12361973 | 101491799 |
|  ATM Small Cap Managed Volatility Portfolio‡ | 18380584 | 213398581 |
|  EQ/AB Small Cap Growth Portfolio‡ | 5651908 | 106086310 |
|  EQ/American Century Mid Cap Value Portfolio‡ | 881517 | 20786169 |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio‡ | 8029181 | 106547232 |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio‡ | 2031932 | 30092913 |
|  EQ/Global Equity Managed Volatility Portfolio‡ | 6034163 | 111632015 |
|  EQ/International Core Managed Volatility Portfolio‡ | 5868649 | 75353453 |
|  EQ/International Equity Index Portfolio‡ | 686024 | 9467133 |
|  EQ/International Value Managed Volatility Portfolio‡ | 7229567 | 112275177 |
|  EQ/Janus Enterprise Portfolio‡ | 1699422 | 40752136 |
|  EQ/JPMorgan Growth Stock Portfolio\*‡ | 631559 | 56158237 |
|  EQ/JPMorgan Value Opportunities Portfolio‡ | 2287360 | 49109626 |
|  EQ/Large Cap Core Managed Volatility Portfolio‡ | 10523865 | 125233993 |
|  EQ/Large Cap Value Managed Volatility Portfolio‡ | 3293124 | 64644029 |
|  EQ/Loomis Sayles Growth Portfolio\*‡ | 4075784 | 55593693 |
|  EQ/MFS International Growth Portfolio‡ | 13720620 | 121015869 |
|  EQ/Morgan Stanley Small Cap Growth Portfolio‡ | 5783733 | 60208663 |
|  EQ/Value Equity Portfolio‡ | 1970469 | 48631180 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 2690779639 |
|  **Fixed Income (49.0%)** |  |  |
|  1290 Diversified Bond Fund‡ | 15190060 | 128811705 |
|  1290 VT DoubleLine Opportunistic Bond Portfolio‡ | 21550303 | 193521724 |
|  1290 VT High Yield Bond Portfolio‡ | 5522537 | 51967071 |
|  EQ/Core Bond Index Portfolio‡ | 48178653 | 467332931 |
|  EQ/Core Plus Bond Portfolio‡ | 43193568 | 154632974 |
|  EQ/Intermediate Government Bond Portfolio‡ | 56877729 | 565364624 |
|  EQ/Long-Term Bond Portfolio‡ | 53339368 | 372308789 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 24268890 | 247299986 |
|  EQ/Quality Bond PLUS Portfolio‡ | 19310835 | 155066004 |
|  Multimanager Core Bond Portfolio‡ | 29569440 | 258732599 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 2595038407 |
|  **Total Investments in Securities (99.9%**)<br>*(Cost $4,579,010,131)* |  | 5285818046 |
|  **Other Assets Less Liabilities (0.1%)** |  | 4161242 |
|  **Net Assets (100%)** |  | $5289979288 |

---

*\** *Non-income producing.* 

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

The holdings in affiliated Investment Companies are all Class K shares except for the following: 1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund and 1290 Diversified Bond Fund are Class I shares.

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds**<br>**from**<br>**Sales ($)** | **Net<br>Realized<br>Gain**<br>**(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund | 1369043 | 26537411 | 1353937 | (2695765) | 295774 | 3655569 | 29146926 |  |  |
|  1290 VT Equity Income Portfolio | 9238220 | 54195034 | 2009187 | (12773451) | 1498329 | 4402997 | 49332096 |  |  |
|  1290 VT GAMCO Small Company Value Portfolio | 554118 | 47357737 | 7874 | (7391529) | 2987940 | 1422854 | 44384876 |  |  |
|  1290 VT Micro Cap Portfolio | 3274017 | 37125844 | 1305687 | (4371660) | (62425) | 4341295 | 38338741 |  |  |
|  1290 VT Small Cap Value Portfolio | 2987207 | 41646678 | 6563 | (6409608) | 740673 | 1744114 | 37728420 |  |  |
|  ATM International Managed Volatility Portfolio | 25569611 | 294465895 | 6552498 | (40176862) | 3770610 | 48871290 | 313483431 |  |  |
|  ATM Large Cap Managed Volatility Portfolio | 42131254 | 668753136 | 39857622 | (104117568) | 770029 | 64623722 | 669886941 |  |  |
|  ATM Mid Cap Managed Volatility Portfolio | 12361973 | 97274477 | 11417062 | (9514980) | 17225 | 2298015 | 101491799 |  |  |
|  ATM Small Cap Managed Volatility Portfolio | 18380584 | 210982096 | 13737623 | (25781751) | (277593) | 14738206 | 213398581 |  |  |
|  EQ/AB Small Cap Growth Portfolio | 5651908 | 107462940 | 6617500 | (15958954) | 952177 | 7012647 | 106086310 |  |  |
|  EQ/American Century Mid Cap Value |  |  |  |  |  |  |  |  |  |
|  Portfolio | 881517 | 22035483 | 2625 | (2963843) | (22421) | 1734325 | 20786169 |  |  |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio | 8029181 | 107123905 | 15312 | (8539085) | 357767 | 7589333 | 106547232 |  |  |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio | 2031932 | 33755035 | 5687 | (4771660) | 105574 | 998277 | 30092913 |  |  |
|  EQ/Global Equity Managed Volatility Portfolio | 6034163 | 107248321 | 18374 | (10246902) | 276817 | 14335405 | 111632015 |  |  |
|  EQ/International Core Managed Volatility Portfolio | 5868649 | 71953371 | 12249 | (10631268) | 3324738 | 10694363 | 75353453 |  |  |
|  EQ/International Equity Index Portfolio | 686024 | 7497970 |  |  |  | 1969163 | 9467133 |  |  |
|  EQ/International Value Managed Volatility Portfolio | 7229567 | 103037605 | 18375 | (11946902) | 1345793 | 19820306 | 112275177 |  |  |
|  EQ/Janus Enterprise Portfolio | 1699422 | 39438475 | 4106564 | (5659608) | 85859 | 2780846 | 40752136 |  |  |
|  EQ/JPMorgan Growth Stock Portfolio \* | 631559 | 52762629 | 3407875 | (8641529) | 1229040 | 7400222 | 56158237 |  |  |
|  EQ/JPMorgan Value Opportunities Portfolio | 2287360 | 54496646 | 5009188 | (16023451) | 1824980 | 3802263 | 49109626 |  |  |
|  EQ/Large Cap Core Managed Volatility Portfolio | 10523865 | 126576992 | 20124 | (11722797) | (321044) | 10680718 | 125233993 |  |  |
|  EQ/Large Cap Value Managed Volatility Portfolio | 3293124 | 74707923 | 5513124 | (20619216) | 5763712 | (721514) | 64644029 |  |  |
|  EQ/Loomis Sayles Growth Portfolio \* | 4075784 | 55455752 | 2007874 | (10741529) | 390330 | 8481266 | 55593693 |  |  |
|  EQ/MFS International Growth Portfolio | 13720620 | 122829824 | 7020999 | (30910745) | 6552242 | 15523549 | 121015869 |  |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024($)** | **Purchases<br>at<br>Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025($)** | **Dividend/<br>Interest<br>Income**<br>**($)** | **Capital Gain**<br>**Distributions<br>($)** |
|  EQ/Morgan Stanley Small Cap Growth Portfolio | 5783733 | 57548170 | 5508748 | (11779477) | (28961) | 8960183 | 60208663 |  |  |
|  EQ/Value Equity Portfolio | 1970469 | 53806592 | 5309188 | (15623451) | 4853137 | 285714 | 48631180 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 15190060 | 131708770 | 9945904 | (18698693) | (325157) | 6180881 | 128811705 | 6292820 |  |
|  1290 VT DoubleLine Opportunistic Bond Portfolio | 21550303 | 197511801 | 9882375 | (25754065) | (953031) | 12834644 | 193521724 |  |  |
|  1290 VT High Yield Bond Portfolio | 5522537 | 54988250 | 8749 | (6379477) | (39052) | 3388601 | 51967071 |  |  |
|  EQ/Core Bond Index Portfolio | 48178653 | 478800507 | 33927873 | (70227346) | 193386 | 24638511 | 467332931 |  |  |
|  EQ/Core Plus Bond Portfolio | 43193568 | 156006093 | 6526249 | (19638431) | (970399) | 12709462 | 154632974 |  |  |
|  EQ/Intermediate Government Bond Portfolio | 56877729 | 579985216 | 45943622 | (86710405) | 128026 | 26018165 | 565364624 |  |  |
|  EQ/Long-Term Bond Portfolio | 53339368 | 371890596 | 14861248 | (36756340) | (3657257) | 25970542 | 372308789 |  |  |
|  EQ/PIMCO Ultra Short Bond Portfolio | 24268890 | 254242406 | 21341126 | (36933542) | (381181) | 9031177 | 247299986 |  |  |
|  EQ/Quality Bond PLUS Portfolio | 19310835 | 160771118 | 11176249 | (25138431) | (1032958) | 9290026 | 155066004 |  |  |
|  Multimanager Core Bond Portfolio | 29569440 | 263488903 | 22592063 | (35697385) | (2129460) | 10478478 | 258732599 | 7074405 |  |
|  **Total** |  | **5325469601** | **297047317** | **(771947706)** | **27263219** | **407985615** | **5285818046** | **13367225** |  |

---

\* *Non-income producing.* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical**<br>**Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $157958631 | $5127859415 | $— | $5285818046 |
|  **Total Assets** | $**157958631** | $**5127859415** | $**—** | $**5285818046** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**157958631** | $**5127859415** | $**—** | $**5285818046** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $1022403441 |
|  Aggregate gross unrealized depreciation | (338194436) |
|  Net unrealized appreciation | $684209005 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $4601609041 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/MODERATE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (71.0%)** |  |  |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund‡ | 2160334 | $45993515 |
|  1290 VT Equity Income Portfolio‡ | 18962311 | 101258742 |
|  1290 VT GAMCO Small Company Value Portfolio‡ | 1282992 | 102767684 |
|  1290 VT Micro Cap Portfolio‡ | 6856730 | 80292304 |
|  1290 VT Small Cap Value Portfolio‡ | 5345269 | 67510746 |
|  ATM International Managed Volatility Portfolio‡ | 43226852 | 529961202 |
|  ATM Large Cap Managed Volatility Portfolio‡ | 75607642 | 1202161504 |
|  ATM Mid Cap Managed Volatility Portfolio‡ | 14176719 | 116390867 |
|  ATM Small Cap Managed Volatility Portfolio‡ | 42654787 | 495222072 |
|  EQ/AB Small Cap Growth Portfolio‡ | 11882437 | 223033350 |
|  EQ/American Century Mid Cap Value Portfolio‡ | 1031699 | 24327459 |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio‡ | 13543842 | 179726782 |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio‡ | 4752013 | 70377306 |
|  EQ/Global Equity Managed Volatility Portfolio‡ | 10533618 | 194871942 |
|  EQ/International Core Managed Volatility Portfolio‡ | 9989899 | 128270300 |
|  EQ/International Equity Index Portfolio‡ | 682937 | 9424525 |
|  EQ/International Value Managed Volatility Portfolio‡ | 12347113 | 191750667 |
|  EQ/Janus Enterprise Portfolio‡ | 1942803 | 46588414 |
|  EQ/JPMorgan Growth Stock Portfolio\*‡ | 993275 | 88322021 |
|  EQ/JPMorgan Value Opportunities Portfolio‡ | 4700710 | 100924254 |
|  EQ/Large Cap Core Managed Volatility Portfolio‡ | 18822496 | 223987704 |
|  EQ/Large Cap Value Managed Volatility Portfolio‡ | 6788393 | 133256160 |
|  EQ/Loomis Sayles Growth Portfolio\*‡ | 6302120 | 85960920 |
|  EQ/MFS International Growth Portfolio‡ | 23897928 | 210779721 |
|  EQ/Morgan Stanley Small Cap Growth Portfolio‡ | 12048410 | 125423952 |
|  EQ/Value Equity Portfolio‡ | 4045994 | 99855129 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 4878439242 |
|  **Fixed Income (28.9%)** |  |  |
|  1290 Diversified Bond Fund‡ | 11687030 | 99106014 |
|  1290 VT DoubleLine Opportunistic Bond Portfolio‡ | 16608633 | 149145527 |
|  1290 VT High Yield Bond Portfolio‡ | 4230100 | 39805243 |
|  EQ/Core Bond Index Portfolio‡ | 33846471 | 328310770 |
|  EQ/Core Plus Bond Portfolio‡ | 33300934 | 119217343 |
|  EQ/Intermediate Government Bond Portfolio‡ | 40516142 | 402730456 |
|  EQ/Long-Term Bond Portfolio‡ | 49894272 | 348262019 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 18085802 | 184294325 |
|  EQ/Quality Bond PLUS Portfolio‡ | 14918192 | 119793079 |
|  Multimanager Core Bond Portfolio‡ | 22728566 | 198874948 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 1989539724 |
|  **Total Investments in Securities (99.9%**)<br>*(Cost $5,310,446,175)* |  | 6867978966 |
|  **Other Assets Less Liabilities (0.1%)** |  | 4351844 |
|  **Net Assets (100%)** |  | $6872330810 |

---

*\** *Non-income producing.* 

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

The holdings in affiliated Investment Companies are all Class K shares except for the following: 1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund and 1290 Diversified Bond Fund are Class I shares.

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/MODERATE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024($)** | **Purchases at<br>Cost ($)** | **Proceeds from<br>Sales ($)** | **Net Realized<br>Gain (Loss)<br>($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain**<br>**Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund | 2160334 | 43297871 | 2302414 | (5882561) | 646143 | 5629648 | 45993515 |  |  |
|  1290 VT Equity Income Portfolio | 18962311 | 107918511 | 7731 | (18644197) | 2026913 | 9949784 | 101258742 |  |  |
|  1290 VT GAMCO Small Company Value Portfolio | 1282992 | 105904982 | 7247 | (13447684) | 4141472 | 6161667 | 102767684 |  |  |
|  1290 VT Micro Cap Portfolio | 6856730 | 76933480 | 2205316 | (7661635) | (49862) | 8865005 | 80292304 |  |  |
|  1290 VT Small Cap Value Portfolio | 5345269 | 74022162 | 4831 | (10965123) | 1210984 | 3237892 | 67510746 |  |  |
|  ATM International Managed Volatility Portfolio | 43226852 | 496496161 | 1038412 | (55372728) | 4618440 | 83180917 | 529961202 |  |  |
|  ATM Large Cap Managed Volatility Portfolio | 75607642 | 1216263073 | 34883589 | (159596628) | 61602 | 110549868 | 1202161504 |  |  |
|  ATM Mid Cap Managed Volatility Portfolio | 14176719 | 115016346 | 11008214 | (11840709) | (107024) | 2314040 | 116390867 |  |  |
|  ATM Small Cap Managed Volatility Portfolio | 42654787 | 520464555 | 6337687 | (59477959) | 2877 | 27894912 | 495222072 |  |  |
|  EQ/AB Small Cap Growth Portfolio | 11882437 | 222156814 | 12714495 | (28395369) | 1156914 | 15400496 | 223033350 |  |  |
|  EQ/American Century Mid Cap Value Portfolio | 1031699 | 23114039 | 3001450 | (4089537) | 4210 | 2297297 | 24327459 |  |  |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio | 13543842 | 183048944 | 11596 | (16716295) | 704613 | 12677924 | 179726782 |  |  |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio | 4752013 | 77282984 | 5314 | (9661635) | (87343) | 2837986 | 70377306 |  |  |
|  EQ/Global Equity Managed Volatility Portfolio | 10533618 | 195249782 | 13287 | (26154088) | 940099 | 24822862 | 194871942 |  |  |
|  EQ/International Core Managed Volatility Portfolio | 9989899 | 117907136 | 8938 | (12885477) | 3322355 | 19917348 | 128270300 |  |  |
|  EQ/International Equity Index Portfolio | 682937 | 7464225 |  |  |  | 1960300 | 9424525 |  |  |
|  EQ/International Value Managed Volatility Portfolio | 12347113 | 175012940 | 13287 | (19154088) | 1111708 | 34766820 | 191750667 |  |  |
|  EQ/Janus Enterprise Portfolio | 1942803 | 43213266 | 7203141 | (7527330) | 404105 | 3295232 | 46588414 |  |  |
|  EQ/JPMorgan Growth Stock Portfolio \* | 993275 | 76845012 | 5704832 | (7515123) | 591554 | 12695746 | 88322021 |  |  |
|  EQ/JPMorgan Value Opportunities Portfolio | 4700710 | 108584270 | 6607731 | (25794197) | 2444598 | 9081852 | 100924254 |  |  |
|  EQ/Large Cap Core Managed Volatility Portfolio | 18822496 | 228724378 | 15462 | (23288394) | (639450) | 19175708 | 223987704 |  |  |
|  EQ/Large Cap Value Managed Volatility Portfolio | 6788393 | 146363444 | 5910388 | (29375014) | 7255531 | 3101811 | 133256160 |  |  |
|  EQ/Loomis Sayles Growth Portfolio \* | 6302120 | 80892448 | 3504832 | (11965123) | 50570 | 13478193 | 85960920 |  |  |
|  EQ/MFS International Growth Portfolio | 23897928 | 207832057 | 10915462 | (45588394) | 12614825 | 25005771 | 210779721 |  |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/MODERATE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security<br>Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases at<br>Cost ($)** | **Proceeds from<br>Sales ($)** | **Net Realized<br>Gain (Loss)<br>($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income ($)** | **Capital Gain**<br>**Distributions<br>($)** |
|  EQ/Morgan Stanley Small Cap Growth Portfolio | 12048410 | 124385794 | 6207247 | (22847684) | 344138 | 17334457 | 125423952 |  |  |
|  EQ/Value Equity Portfolio | 4045994 | 107233416 | 6307731 | (24094197) | 8072129 | 2336050 | 99855129 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 11687030 | 99692394 | 10188747 | (15247684) | (193873) | 4666430 | 99106014 | 4749317 |  |
|  1290 VT DoubleLine Opportunistic Bond Portfolio | 16608633 | 152164883 | 11660630 | (23723271) | (638712) | 9681997 | 149145527 |  |  |
|  1290 VT High Yield Bond Portfolio | 4230100 | 40776555 | 2677900 | (6079074) | 18853 | 2411009 | 39805243 |  |  |
|  EQ/Core Bond Index Portfolio | 33846471 | 340289503 | 31173676 | (60579103) | 653341 | 16773353 | 328310770 |  |  |
|  EQ/Core Plus Bond Portfolio | 33300934 | 121541973 | 8308455 | (19638965) | (214440) | 9220320 | 119217343 |  |  |
|  EQ/Intermediate Government Bond Portfolio | 40516142 | 417999217 | 41028265 | (74945969) | 100689 | 18548254 | 402730456 |  |  |
|  EQ/Long-Term Bond Portfolio | 49894272 | 351264981 | 18175124 | (41968639) | (518890) | 21309443 | 348262019 |  |  |
|  EQ/PIMCO Ultra Short Bond Portfolio | 18085802 | 192100195 | 19213288 | (33454088) | (263567) | 6698497 | 184294325 |  |  |
|  EQ/Quality Bond PLUS Portfolio | 14918192 | 123818166 | 11608456 | (21938965) | (715680) | 7021102 | 119793079 |  |  |
|  Multimanager Core Bond Portfolio | 22728566 | 203743348 | 22245779 | (33495369) | (1193576) | 7574766 | 198874948 | 5398679 |  |
|  **Total** |  | **6925019305** | **302220954** | **(989012296)** | **47876246** | **581874757** | **6867978966** | **10147996** |  |

---

\* *Non-income producing.* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/MODERATE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $145099529 | $6722879437 | $— | $6867978966 |
|  **Total Assets** | $**145099529** | $**6722879437** | $**—** | $**6867978966** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**145099529** | $**6722879437** | $**—** | $**6867978966** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $1755078958 |
|  Aggregate gross unrealized depreciation | (264653092) |
|  Net unrealized appreciation | $1490425866 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $5377553100 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AGGRESSIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (91.1%)** |  |  |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund‡ | 1183374 | $25194039 |
|  1290 VT Equity Income Portfolio‡ | 12933315 | 69063904 |
|  1290 VT GAMCO Small Company Value Portfolio‡ | 1006199 | 80596531 |
|  1290 VT Micro Cap Portfolio‡ | 3425082 | 40107708 |
|  1290 VT Small Cap Value Portfolio‡ | 2937398 | 37099340 |
|  ATM International Managed Volatility Portfolio‡ | 27116637 | 332449975 |
|  ATM Large Cap Managed Volatility Portfolio‡ | 50246826 | 798924533 |
|  ATM Mid Cap Managed Volatility Portfolio‡ | 6369773 | 52295837 |
|  ATM Small Cap Managed Volatility Portfolio‡ | 21944947 | 254780829 |
|  EQ/AB Small Cap Growth Portfolio‡ | 6361606 | 119407337 |
|  EQ/American Century Mid Cap Value Portfolio‡ | 537577 | 12676062 |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio‡ | 8864604 | 117633301 |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio‡ | 2791239 | 41338253 |
|  EQ/Global Equity Managed Volatility Portfolio‡ | 6890175 | 127468245 |
|  EQ/International Core Managed Volatility Portfolio‡ | 5668938 | 72789165 |
|  EQ/International Equity Index Portfolio‡ | 501691 | 6923330 |
|  EQ/International Value Managed Volatility Portfolio‡ | 6587378 | 102301983 |
|  EQ/Janus Enterprise Portfolio‡ | 698357 | 16746590 |
|  EQ/JPMorgan Growth Stock Portfolio\*‡ | 537414 | 47786881 |
|  EQ/JPMorgan Value Opportunities Portfolio‡ | 3226212 | 69266773 |
|  EQ/Large Cap Core Managed Volatility Portfolio‡ | 12796583 | 152279341 |
|  EQ/Large Cap Value Managed Volatility Portfolio‡ | 4686567 | 91997311 |
|  EQ/Loomis Sayles Growth Portfolio\*‡ | 3940068 | 53742528 |
|  EQ/MFS International Growth Portfolio‡ | 15826345 | 139588359 |
|  EQ/Morgan Stanley Small Cap Growth Portfolio‡ | 6361318 | 66221322 |
|  EQ/Value Equity Portfolio‡ | 2788505 | 68820303 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 2997499780 |
|  **Fixed Income (8.9%)** |  |  |
|  1290 Diversified Bond Fund‡ | 1719612 | 14582307 |
|  1290 VT DoubleLine Opportunistic Bond Portfolio‡ | 2420643 | 21737375 |
|  1290 VT High Yield Bond Portfolio‡ | 616615 | 5802346 |
|  EQ/Core Bond Index Portfolio‡ | 4644186 | 45048606 |
|  EQ/Core Plus Bond Portfolio‡ | 4855696 | 17383393 |
|  EQ/Intermediate Government Bond Portfolio‡ | 5564495 | 55311084 |
|  EQ/Long-Term Bond Portfolio‡ | 8312732 | 58022871 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 2576656 | 26256126 |
|  EQ/Quality Bond PLUS Portfolio‡ | 2166381 | 17396040 |
|  Multimanager Core Bond Portfolio‡ | 3318863 | 29040047 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 290580195 |
|  **Total Investments in Securities (100.0%)**<br> *(Cost $2,332,058,221)* |  | 3288079975 |
|  **Other Assets Less Liabilities (0.0%)†** |  | 1101646 |
|  **Net Assets (100%)** |  | $3289181621 |

---

*\** *Non-income producing.* 

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

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

The holdings in affiliated Investment Companies are all Class K shares except for the following: 1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund and 1290 Diversified Bond Fund are Class I shares.

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AGGRESSIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds<br>from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund | 1183374 | 23586220 | 5274 | (1616649) | 176703 | 3042491 | 25194039 |  |  |
|  1290 VT Equity Income Portfolio | 12933315 | 71863184 | 19780 | (10837435) | 1103773 | 6914602 | 69063904 |  |  |
|  1290 VT GAMCO Small Company Value Portfolio | 1006199 | 78925530 | 21097 | (6466597) | 595237 | 7521264 | 80596531 |  |  |
|  1290 VT Micro Cap Portfolio | 3425082 | 39487992 | 11428 | (3502740) | (20821) | 4131849 | 40107708 |  |  |
|  1290 VT Small Cap Value Portfolio | 2937398 | 37597785 | 9669 | (2963857) | 13270 | 2442473 | 37099340 |  |  |
|  ATM International Managed Volatility Portfolio | 27116637 | 305790325 | 90980 | (27887200) | 2184814 | 52271056 | 332449975 |  |  |
|  ATM Large Cap Managed Volatility Portfolio | 50246826 | 794242953 | 203499 | (64875719) | 227847 | 69125953 | 798924533 |  |  |
|  ATM Mid Cap Managed Volatility Portfolio | 6369773 | 56771786 | 15383 | (4715227) | (30976) | 254871 | 52295837 |  |  |
|  ATM Small Cap Managed Volatility Portfolio | 21944947 | 265773048 | 82190 | (25192785) | (20739) | 14139115 | 254780829 |  |  |
|  EQ/AB Small Cap Growth Portfolio | 6361606 | 107253573 | 11928130 | (9322130) | (210517) | 9758281 | 119407337 |  |  |
|  EQ/American Century Mid Cap Value Portfolio | 537577 | 12445583 | 2637 | (808325) | (1353) | 1037520 | 12676062 |  |  |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio | 8864604 | 117569427 | 28569 | (8756850) | 358090 | 8434065 | 117633301 |  |  |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio | 2791239 | 43046394 | 11427 | (3502740) | (7283) | 1790455 | 41338253 |  |  |
|  EQ/Global Equity Managed Volatility Portfolio | 6890175 | 120966410 | 32086 | (10134617) | 1187 | 16603179 | 127468245 |  |  |
|  EQ/International Core Managed Volatility Portfolio | 5668938 | 66140945 | 21096 | (6466597) | 1299328 | 11794393 | 72789165 |  |  |
|  EQ/International Equity Index Portfolio | 501691 | 6126942 |  | (749999) | 251905 | 1294482 | 6923330 |  |  |
|  EQ/International Value Managed Volatility Portfolio | 6587378 | 93021097 | 32085 | (9834617) | 17309 | 19066109 | 102301983 |  |  |
|  EQ/Janus Enterprise Portfolio | 698357 | 17608836 | 6154 | (1886091) | 64352 | 953339 | 16746590 |  |  |
|  EQ/JPMorgan Growth Stock Portfolio \* | 537414 | 41237042 | 2710549 | (3233299) | 158653 | 6913936 | 47786881 |  |  |
|  EQ/JPMorgan Value Opportunities Portfolio | 3226212 | 69927609 | 19777 | (7962435) | 177971 | 7103851 | 69266773 |  |  |
|  EQ/Large Cap Core Managed Volatility Portfolio | 12796583 | 154283688 | 38238 | (14720707) | (320747) | 12998869 | 152279341 |  |  |
|  EQ/Large Cap Value Managed Volatility Portfolio | 4686567 | 96976217 | 26371 | (11858247) | 2121780 | 4731190 | 91997311 |  |  |
|  EQ/Loomis Sayles Growth Portfolio \* | 3940068 | 53164078 | 10548 | (7683299) | 138065 | 8113136 | 53742528 |  |  |
|  EQ/MFS International Growth Portfolio | 15826345 | 126613809 | 2236920 | (12566545) | 1320311 | 21983864 | 139588359 |  |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AGGRESSIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds**<br>**from**<br>**Sales ($)** | **Net**<br>**Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/<br>Interest<br>Income**<br>**($)** | **Capital Gain<br>Distributions<br>($)** |
|  EQ/Morgan Stanley Small Cap Growth Portfolio | 6361318 | 62511711 | 14065 | (4811065) | (36054) | 8542665 | 66221322 |  |  |
|  EQ/Value Equity Portfolio | 2788505 | 69023761 | 19779 | (6662435) | 2074163 | 4365035 | 68820303 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 1719612 | 14050759 | 1891658 | (1997208) | (31512) | 668610 | 14582307 | 672617 |  |
|  1290 VT DoubleLine Opportunistic Bond Portfolio | 2420643 | 21631443 | 2006153 | (3186091) | 7495 | 1278375 | 21737375 |  |  |
|  1290 VT High Yield Bond Portfolio | 616615 | 6615016 | 381758 | (1538883) | 599 | 343856 | 5802346 |  |  |
|  EQ/Core Bond Index Portfolio | 4644186 | 45630080 | 4462307 | (7372182) | 14940 | 2313461 | 45048606 |  |  |
|  EQ/Core Plus Bond Portfolio | 4855696 | 17310759 | 1405274 | (2616649) | (19288) | 1303297 | 17383393 |  |  |
|  EQ/Intermediate Government Bond Portfolio | 5564495 | 56017539 | 5815383 | (9015227) | 20957 | 2472432 | 55311084 |  |  |
|  EQ/Long-Term Bond Portfolio | 8312732 | 57381408 | 2216262 | (4984669) | (76325) | 3486195 | 58022871 |  |  |
|  EQ/PIMCO Ultra Short Bond Portfolio | 2576656 | 26646726 | 2517032 | (3805532) | (3587) | 901487 | 26256126 |  |  |
|  EQ/Quality Bond PLUS Portfolio | 2166381 | 17579277 | 1704836 | (2781929) | 6597 | 887259 | 17396040 |  |  |
|  Multimanager Core Bond Portfolio | 3318863 | 29069736 | 3493307 | (4424974) | 1272 | 900706 | 29040047 | 772457 |  |
|  **Total** |  | **3223888688** | **43491701** | **(310741551)** | **11557416** | **319883721** | **3288079975** | **1445074** |  |

---

*\** *Non-income producing.* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AGGRESSIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $39776346 | $3248303629 | $— | $3288079975 |
|  **Total Assets** | $**39776346** | $**3248303629** | $**—** | $**3288079975** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**39776346** | $**3248303629** | $**—** | $**3288079975** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $966451868 |
|  Aggregate gross unrealized depreciation | (41592024) |
|  Net unrealized appreciation | $924859844 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $2363220131 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQUITABLE CONSERVATIVE GROWTH MF/ETF PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (24.5%)** |  |  |
|  iShares Core S&P Total U.S. Stock Market ETF | 12900 | $1878885 |
|  iShares Core S&P U.S. Growth ETF | 23900 | 3932506 |
|  iShares MSCI Global Min Vol Factor ETF | 32300 | 3873416 |
|  SPDR Portfolio Developed World ex-US ETF(x) | 109300 | 4676947 |
|  Vanguard FTSE Emerging Markets ETF(x) | 90200 | 4887036 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 19248790 |
|  **Fixed Income (8.6%)** |  |  |
|  iShares Broad USD High Yield Corporate Bond ETF | 104400 | 3944232 |
|  Vanguard Total Bond Market ETF | 37300 | 2774001 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 6718233 |
|  **Total Exchange Traded Funds (33.1%)**<br> *(Cost $22,263,021)* |  | 25967023 |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (21.1%)** |  |  |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund‡ | 61469 | 1308669 |
|  1290 Essex Small Cap Growth Fund‡ | 179900 | 3013332 |
|  1290 GAMCO Small/Mid Cap Value Fund‡ | 199178 | 3766464 |
|  1290 SmartBeta Equity Fund‡ | 358448 | 7498735 |
|  AB Small Cap Growth Portfolio\*‡ | 12375 | 942987 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 16530187 |
|  **Fixed Income (43.8%)** |  |  |
|  1290 Diversified Bond Fund‡ | 3249539 | 27556095 |
|  1290 High Yield Bond Fund‡ | 790362 | 6820823 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 34376918 |
|  **Total Investment Companies (64.9%)**<br> *(Cost $48,552,672)* |  | 50907105 |
|  **Total Investments in Securities (98.0%)**<br> *(Cost $70,815,693)* |  | 76874128 |
|  **Other Assets Less Liabilities (2.0%)** |  | 1526068 |
|  **Net Assets (100%)** |  | $78400196 |

---

*\** *Non-income producing.* 

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

*(x)* *All or a portion of security is on loan at September 30, 2025, the Portfolio had loaned securities with a total value of $2,495,950. This was collateralized by $2,547,625 of various U.S. Government Treasury Securities, ranging from 0.125% – 5.375%, maturing 1/15/26 – 2/15/55.* 

The holdings in affiliated Investment Companies are all Class I shares except for AB Small Cap Growth Portfolio which are Class Z shares.

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQUITABLE CONSERVATIVE GROWTH MF/ETF PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases<br>at**<br>**Cost ($)** | **Proceeds<br>from Sales<br>($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September<br>30, 2025 ($)** | **Dividend/<br>Interest<br>Income**<br>**($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund | 61469 | 1260322 | 45461 | (161847) | 14258 | 150475 | 1308669 |  |  |
|  1290 Essex Small Cap Growth Fund | 179900 | 3065154 | 263824 | (1005568) | 150722 | 539200 | 3013332 |  |  |
|  1290 GAMCO Small/Mid Cap Value Fund | 199178 | 3761955 | 301487 | (683538) | 14191 | 372369 | 3766464 |  |  |
|  1290 SmartBeta Equity Fund | 358448 | 7980891 | 310833 | (1673299) | 211968 | 668342 | 7498735 |  |  |
|  AB Small Cap Growth Portfolio \* | 12375 | 963865 | 152616 | (209674) | 17157 | 19023 | 942987 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 3249539 | 26849705 | 3285993 | (3807402) | 51 | 1227748 | 27556095 | 1311686 |  |
|  1290 High Yield Bond Fund | 790362 | 7050247 | 646582 | (985706) | 3647 | 106053 | 6820823 | 327216 |  |
|  **Total** |  | **50932139** | **5006796** | **(8527034)** | **411994** | **3083210** | **50907105** | **1638902** |  |

---

*\** *Non-income producing.* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQUITABLE CONSERVATIVE GROWTH MF/ETF PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Exchange Traded Funds** |  |  |  |  |
|  Exchange Traded Funds | $25967023 | $— | $— | $25967023 |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | 50907105 |  |  | 50907105 |
|  **Total Assets** | $**76874128** | $**—** | $**—** | $**76874128** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**76874128** | $**—** | $**—** | $**76874128** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $8232852 |
|  Aggregate gross unrealized depreciation | (2310716) |
|  Net unrealized appreciation | $5922136 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $70951992 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQUITABLE MODERATE GROWTH MF/ETF PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (28.4%)** |  |  |
|  iShares Core S&P Total U.S. Stock Market ETF | 5700 | $830205 |
|  iShares Core S&P U.S. Growth ETF | 9290 | 1528576 |
|  iShares MSCI Global Min Vol Factor ETF | 18960 | 2273683 |
|  SPDR Portfolio Developed Worldex-US ETF | 39130 | 1674373 |
|  Vanguard FTSE Emerging Markets ETF | 42550 | 2305359 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 8612196 |
|  **Fixed Income (4.2%)** |  |  |
|  iShares Broad USD High Yield Corporate Bond ETF | 33410 | 1262230 |
|  **Total Exchange Traded Funds (32.6%)<br>(***Cost $8,443,586)* |  | 9874426 |
|  INVESTMENT COMPANIES: |  |  |
|  **Investment Companies (65.4%)** |  |  |
|  **Equity (37.1%)** |  |  |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund‡ | 39687 | 844943 |
|  1290 Essex Small Cap Growth Fund‡ | 115676 | 1937573 |
|  1290 GAMCO Small/Mid Cap Value Fund‡ | 128168 | 2423665 |
|  1290 SmartBeta Equity Fund‡ | 259401 | 5426670 |
|  AB Small Cap Growth Portfolio \*‡ | 8029 | 611826 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 11244677 |
|  **Fixed Income (28.3%)** |  |  |
|  1290 Diversified Bond Fund‡ | 818384 | 6939900 |
|  1290 High Yield Bond Fund ‡ | 190158 | 1641063 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 8580963 |
|  **Total Investment Companies (65.4%)<br>(***Cost $17,738,110***)** |  | 19825640 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (1.7%)** |  |  |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 527665 | 527877 |
|  **Total Short-Term Investments (1.7%)**<br> *(Cost $527,797)* |  | 527877 |
|  **Total Investments in Securities (99.7%)**<br> *(Cost $26,709,493)* |  | 30227943 |
|  **Other Assets Less Liabilities (0.3%)** |  | 92247 |
|  **Net Assets (100%)** |  | $30320190 |

---

*\** *Non-income producing.* 

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

The holdings in affiliated Investment Companies are all Class I shares except for AB Small Cap Growth Portfolio which are Class Z shares.

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQUITABLE MODERATE GROWTH MF/ETF PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/<br>Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth Fund | 39687 | 721930 | 94940 | (86627) | 4567 | 110133 | 844943 |  |  |
|  1290 Essex Small Cap Growth Fund | 115676 | 1660252 | 260060 | (431236) | 47318 | 401179 | 1937573 |  |  |
|  1290 GAMCO Small/Mid Cap Value Fund | 128168 | 2030445 | 324232 | (188758) | 1727 | 256019 | 2423665 |  |  |
|  1290 SmartBeta Equity Fund | 259401 | 4735900 | 484154 | (394678) | (526) | 601820 | 5426670 |  |  |
|  AB Small Cap Growth Portfolio \* | 8029 | 516112 | 116734 | (50593) | (94) | 29667 | 611826 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 818384 | 5021872 | 2461387 | (829834) | 445 | 286030 | 6939900 | 302680 |  |
|  1290 High Yield Bond Fund | 190158 | 1422191 | 253488 | (61048) | 25 | 26407 | 1641063 | 73175 |  |
|  **Total** |  | **16108702** | **3994995** | **(2042774)** | **53462** | **1711255** | **19825640** | **375855** |  |

---

*\** *Non-income producing.* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQUITABLE MODERATE GROWTH MF/ETF PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Exchange Traded Funds** |  |  |  |  |
|  Exchange Traded Funds | $9874426 | $— | $— | $9874426 |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | 19825640 |  |  | 19825640 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 527877 |  |  | 527877 |
|  **Total Assets** | $**30227943** | $**—** | $**—** | $**30227943** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**30227943** | $**—** | $**—** | $**30227943** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $3973805 |
|  Aggregate gross unrealized depreciation | (493717) |
|  Net unrealized appreciation | $3480088 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $26747855 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQUITABLE GROWTH MF/ETF PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (31.2%)** |  |  |
|  iShares Core S&P Total U.S. Stock Market ETF | 7500 | $1092375 |
|  iShares Core S&P U.S. Growth ETF | 11200 | 1842848 |
|  iShares MSCI Global Min Vol Factor ETF | 29660 | 3556827 |
|  SPDR Portfolio Developed World ex-US ETF | 43370 | 1855802 |
|  Vanguard FTSE Emerging Markets ETF | 54960 | 2977733 |
|  **Total Exchange Traded Funds (31.2%)<br>(***Cost $9,575,819)* |  | **11325585** |
|  INVESTMENT COMPANIES: |  |  |
|  **Investment Companies (66.7%)** |  |  |
|  **Equity (53.9%)** |  |  |
|  1290 Avantis® U.S. Large Cap Growth Fund‡ | 70461 | 1500105 |
|  1290 Essex Small Cap Growth Fund‡ | 180543 | 3024088 |
|  1290 GAMCO Small/Mid Cap Value Fund‡ | 200580 | 3792977 |
|  1290 SmartBeta Equity Fund‡ | 490752 | 10266528 |
|  AB Small Cap Growth Portfolio \*‡ | 12495 | 952137 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 19535835 |
|  **Fixed Income (12.8%)** |  |  |
|  1290 Diversified Bond Fund‡ | 307676 | 2609091 |
|  1290 High Yield Bond Fund ‡ | 233241 | 2012870 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 4621961 |
|  **Total Investment Companies (66.7%)<br>(***Cost $19,836,502***)** |  | 24157796 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (1.7%)** |  |  |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 628381 | 628632 |
|  **Total Short-Term Investments (1.7%)**<br> *(Cost $628,589)* |  | 628632 |
|  **Total Investments in Securities (99.6%)**<br> *(Cost $30,040,910)* |  | 36112013 |
|  **Other Assets Less Liabilities (0.4%)** |  | 130740 |
|  **Net Assets (100%)** |  | $36242753 |

---

*\** *Non-income producing.* 

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

The holdings in affiliated Investment Companies are all Class I shares except for AB Small Cap Growth Portfolio which are Class Z shares.

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQUITABLE GROWTH MF/ETF PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases<br>at**<br>**Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain**<br>**Distributions**<br>**($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  1290 Avantis® U.S. Large Cap Growth Fund | 70461 | 1294082 | 188802 | (179711) | 4924 | 192008 | 1500105 |  |  |
|  1290 Essex Small Cap Growth Fund | 180543 | 2478778 | 509349 | (650048) | 46654 | 639355 | 3024088 |  |  |
|  1290 GAMCO Small/Mid Cap Value Fund | 200580 | 2936744 | 746574 | (287353) | 1584 | 395428 | 3792977 |  |  |
|  1290 SmartBeta Equity Fund | 490752 | 8575023 | 1492114 | (904070) | (209) | 1103670 | 10266528 |  |  |
|  AB Small Cap Growth Portfolio \* | 12495 | 816426 | 181044 | (84632) | (152) | 39451 | 952137 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 307676 | 1226518 | 2953757 | (1678651) | 12519 | 94948 | 2609091 | 136827 |  |
|  1290 High Yield Bond Fund | 233241 | 1681807 | 962137 | (647762) | (149) | 16837 | 2012870 | 75248 |  |
|  **Total** |  | **19009378** | **7033777** | **(4432227)** | **65171** | **2481697** | **24157796** | **212075** |  |

---

*\** *Non-income producing.* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQUITABLE GROWTH MF/ETF PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Exchange Traded Funds** |  |  |  |  |
|  Exchange Traded Funds | $11325585 | $— | $— | $11325585 |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | 24157796 |  |  | 24157796 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 628632 |  |  | 628632 |
|  **Total Assets** | $**36112013** | $**—** | $**—** | $**36112013** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**36112013** | $**—** | $**—** | $**36112013** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $6115525 |
|  Aggregate gross unrealized depreciation | (79234) |
|  Net unrealized appreciation | $6036291 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $30075722 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

TARGET 2015 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (22.8%)** |  |  |
|  EQ/American Century Mid Cap Value Portfolio‡ | 12262 | $289133 |
|  EQ/Emerging Markets Equity PLUS Portfolio‡ | 31097 | 352642 |
|  EQ/Equity 500 Index Portfolio‡ | 20519 | 1996480 |
|  EQ/International Equity Index Portfolio‡ | 50496 | 696842 |
|  EQ/Janus Enterprise Portfolio‡ | 22846 | 547853 |
|  EQ/MFS International Growth Portfolio‡ | 45124 | 397992 |
|  EQ/Small Company Index Portfolio‡ | 17007 | 214972 |
|  EQ/Value Equity Portfolio‡ | 9879 | 243803 |
|  Multimanager Aggressive Equity Portfolio‡<br>| 2947 | 263545 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity**<br>|  | 5003262 |
|  **Fixed Income (77.3%)** |  |  |
|  1290 Diversified Bond Fund‡ | 393586 | 3337606 |
|  1290 VT High Yield Bond Portfolio‡ | 235115 | 2212428 |
|  EQ/Core Bond Index Portfolio‡ | 201660 | 1956097 |
|  EQ/Core Plus Bond Portfolio‡ | 822771 | 2945522 |
|  EQ/Long-Term Bond Portfolio‡ | 200457 | 1399193 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 337110 | 3435152 |
|  EQ/Quality Bond PLUS Portfolio‡<br>| 206609 | 1659067 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income**<br>|  | 16945065 |
|  **Total Investments in Securities (100.1%**)<br>*(Cost $21,626,654)* |  | 21948327 |
|  **Other Assets Less Liabilities (-0.1%)**<br>|  | (12360) |
|  **Net Assets (100%)** |  | $21935967 |

---

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

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

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

TARGET 2015 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases<br>at**<br>**Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/American Century Mid Cap Value Portfolio | 12262 | 345168 | 13602 | (95220) | 33820 | (8237) | 289133 |  |  |
|  EQ/Emerging Markets Equity PLUS Portfolio | 31097 | 454906 | 18087 | (215835) | 20226 | 75258 | 352642 |  |  |
|  EQ/Equity 500 Index Portfolio | 20519 | 2520053 | 197319 | (1014772) | 628618 | (334738) | 1996480 |  |  |
|  EQ/International Equity Index Portfolio | 50496 | 801803 | 41707 | (328653) | 76475 | 105510 | 696842 |  |  |
|  EQ/Janus Enterprise Portfolio | 22846 | 720466 | 67104 | (279856) | 67137 | (26998) | 547853 |  |  |
|  EQ/MFS International Growth Portfolio | 45124 | 489647 | 20370 | (192636) | 31059 | 49552 | 397992 |  |  |
|  EQ/Small Company Index Portfolio | 17007 | 356201 | 13552 | (167428) | (4763) | 17410 | 214972 |  |  |
|  EQ/Value Equity Portfolio | 9879 | 296952 | 21302 | (100822) | 7495 | 18876 | 243803 |  |  |
|  Multimanager Aggressive Equity Portfolio | 2947 | 331362 | 51355 | (163615) | 60500 | (16057) | 263545 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 393586 | 3621250 | 408448 | (851529) | (5695) | 165132 | 3337606 | 172704 |  |
|  1290 VT High Yield Bond Portfolio | 235115 | 2595648 | 148457 | (679128) | (46098) | 193549 | 2212428 |  |  |
|  EQ/Core Bond Index Portfolio | 201660 | 2077032 | 259637 | (490708) | 3287 | 106849 | 1956097 |  |  |
|  EQ/Core Plus Bond Portfolio | 822771 | 3337477 | 145732 | (779959) | (132765) | 375037 | 2945522 |  |  |
|  EQ/Long-Term Bond Portfolio | 200457 | 1690707 | 49931 | (430268) | (139846) | 228669 | 1399193 |  |  |
|  EQ/PIMCO Ultra Short Bond Portfolio | 337110 | 3225435 | 943941 | (856245) | 338 | 121683 | 3435152 |  |  |
|  EQ/Quality Bond PLUS Portfolio | 206609 | 1926950 | 85801 | (449691) | (22689) | 118696 | 1659067 |  |  |
|  **Total** |  | **24791057** | **2486345** | **(7096365)** | **577099** | **1190191** | **21948327** | **172704** |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

TARGET 2015 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $3337606 | $18610721 | $— | $21948327 |
|  **Total Assets** | $**3337606** | $**18610721** | $**—** | $**21948327** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**3337606** | $**18610721** | $**—** | $**21948327** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $3191757 |
|  Aggregate gross unrealized depreciation | (2934666) |
|  Net unrealized appreciation | $257091 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $21691236 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

TARGET 2025 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (52.2%)** |  |  |
|  EQ/American Century Mid Cap Value Portfolio‡ | 121924 | $2874962 |
|  EQ/Emerging Markets Equity PLUS Portfolio‡ | 447834 | 5078441 |
|  EQ/Equity 500 Index Portfolio‡ | 323757 | 31501531 |
|  EQ/International Equity Index Portfolio‡ | 761615 | 10510294 |
|  EQ/Janus Enterprise Portfolio‡ | 188182 | 4512600 |
|  EQ/MFS International Growth Portfolio‡ | 680915 | 6005671 |
|  EQ/Small Company Index Portfolio‡ | 535096 | 6763618 |
|  EQ/Value Equity Portfolio‡ | 88442 | 2182740 |
|  Multimanager Aggressive Equity Portfolio‡ | 22925 | 2049950 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 71479807 |
|  **Fixed Income (47.9%)** |  |  |
|  1290 Diversified Bond Fund‡ | 1490373 | 12638361 |
|  1290 VT High Yield Bond Portfolio‡ | 1023440 | 9630574 |
|  EQ/Core Bond Index Portfolio‡ | 692758 | 6719750 |
|  EQ/Core Plus Bond Portfolio‡ | 3273842 | 11720353 |
|  EQ/Long-Term Bond Portfolio‡ | 930447 | 6494520 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 1158348 | 11803571 |
|  EQ/Quality Bond PLUS Portfolio‡ | 816129 | 6553516 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** | &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** | 65560645 |
|  **Total Investments in Securities (100.1%**)<br>*(Cost $104,273,233)* | **Total Investments in Securities (100.1%**)<br>*(Cost $104,273,233)* | 137040452 |
|  **Other Assets Less Liabilities (-0.1%)** | **Other Assets Less Liabilities (-0.1%)** | (142372) |
|  **Net Assets (100%)** | **Net Assets (100%)** | $136898080 |

---

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

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

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

TARGET 2025 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds<br>from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/American Century Mid Cap Value Portfolio | 121924 | 3098632 | 325571 | (798854) | 69891 | 179722 | 2874962 |  |  |
|  EQ/Emerging Markets Equity PLUS Portfolio | 447834 | 4978191 | 117288 | (1204569) | 22190 | 1165341 | 5078441 |  |  |
|  EQ/Equity 500 Index Portfolio | 323757 | 33025726 | 2537426 | (8474147) | 4137874 | 274652 | 31501531 |  |  |
|  EQ/International Equity Index Portfolio | 761615 | 10334640 | 345809 | (2643042) | 589829 | 1883058 | 10510294 |  |  |
|  EQ/Janus Enterprise Portfolio | 188182 | 4943292 | 506884 | (1270972) | 68862 | 264534 | 4512600 |  |  |
|  EQ/MFS International Growth Portfolio | 680915 | 6403191 | 149831 | (1645591) | 129627 | 968613 | 6005671 |  |  |
|  EQ/Small Company Index Portfolio | 535096 | 7963949 | 178246 | (1950081) | 11693 | 559811 | 6763618 |  |  |
|  EQ/Value Equity Portfolio | 88442 | 2200892 | 213028 | (452833) | 27232 | 194421 | 2182740 |  |  |
|  Multimanager Aggressive Equity Portfolio | 22925 | 1971375 | 340473 | (613700) | 92212 | 259590 | 2049950 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 1490373 | 11598248 | 2391554 | (1901721) | 561 | 549719 | 12638361 | 596516 |  |
|  1290 VT High Yield Bond Portfolio | 1023440 | 9906093 | 1012846 | (1880312) | 11126 | 580821 | 9630574 |  |  |
|  EQ/Core Bond Index Portfolio | 692758 | 8198331 | 644378 | (2498830) | (7645) | 383516 | 6719750 |  |  |
|  EQ/Core Plus Bond Portfolio | 3273842 | 11172627 | 1612039 | (1926945) | 9222 | 853410 | 11720353 |  |  |
|  EQ/Long-Term Bond Portfolio | 930447 | 6337177 | 962680 | (1200054) | (139248) | 533965 | 6494520 |  |  |
|  EQ/PIMCO Ultra Short Bond Portfolio | 1158348 | 10782578 | 2314563 | (1691027) | 316 | 397141 | 11803571 |  |  |
|  EQ/Quality Bond PLUS Portfolio | 816129 | 7036607 | 744378 | (1578830) | (69749) | 421110 | 6553516 |  |  |
|  **Total** |  | **139951549** | **14396994** | **(31731508)** | **4953993** | **9469424** | **137040452** | **596516** |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

TARGET 2025 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active**<br>**Markets for Identical**<br>**Securities** | **Level 2**<br>**Significant Other**<br>**Observable Inputs**<br>**(including quoted prices**<br>**for similar securities,**<br>**interest rates,**<br>**prepayment speeds,**<br>**credit risk, etc.)** | **Level 3**<br>**Significant Unobservable**<br>**Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $12638361 | $124402091 | $— | $137040452 |
|  **Total Assets** | $**12638361** | $**124402091** | $**—** | $**137040452** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**12638361** | $**124402091** | $**—** | $**137040452** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $41219028 |
|  Aggregate gross unrealized depreciation | (8585447) |
|  Net unrealized appreciation | $32633581 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $104406871 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

TARGET 2035 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (71.6%)** |  |  |
|  EQ/American Century Mid Cap Value Portfolio‡ | 170826 | $4028084 |
|  EQ/Emerging Markets Equity PLUS Portfolio‡ | 1298178 | 14721344 |
|  EQ/Equity 500 Index Portfolio‡ | 986779 | 96013626 |
|  EQ/International Equity Index Portfolio‡ | 2281471 | 31484294 |
|  EQ/Janus Enterprise Portfolio‡ | 258851 | 6207256 |
|  EQ/MFS International Growth Portfolio‡ | 1999081 | 17631893 |
|  EQ/Small Company Index Portfolio‡ | 1993195 | 25193984 |
|  EQ/Value Equity Portfolio‡ | 269953 | 6662452 |
|  Multimanager Aggressive Equity Portfolio‡ | 46807 | 4185493 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 206128426 |
|  **Fixed Income (28.4%)** |  |  |
|  1290 Diversified Bond Fund‡ | 1515198 | 12848877 |
|  1290 VT High Yield Bond Portfolio‡ | 1520500 | 14307902 |
|  EQ/Core Bond Index Portfolio‡ | 956420 | 9277277 |
|  EQ/Core Plus Bond Portfolio‡ | 4034122 | 14442158 |
|  EQ/Long-Term Bond Portfolio‡ | 1458131 | 10177757 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 1188223 | 12107991 |
|  EQ/Quality Bond PLUS Portfolio‡ | 1064274 | 8546118 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 81708080 |
|  **Total Investments in Securities (100.0%)**<br> *(Cost $190,820,018)* |  | 287836506 |
|  **Other Assets Less Liabilities (0.0%)†** |  | (113914) |
|  **Net Assets (100%)** |  | $287722592 |

---

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

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

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

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

TARGET 2035 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds<br>from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain**<br>**Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/American Century Mid Cap Value Portfolio | 170826 | 4150849 | 305173 | (749467) | (1212) | 322741 | 4028084 |  |  |
|  EQ/Emerging Markets Equity PLUS Portfolio | 1298178 | 12157818 | 666328 | (1305323) | 3336 | 3199185 | 14721344 |  |  |
|  EQ/Equity 500 Index Portfolio | 986779 | 85294493 | 7464029 | (9490914) | 432389 | 12313629 | 96013626 |  |  |
|  EQ/International Equity Index Portfolio | 2281471 | 26093636 | 1458046 | (2821343) | 217668 | 6536287 | 31484294 |  |  |
|  EQ/Janus Enterprise Portfolio | 258851 | 5931643 | 820173 | (964467) | (681) | 420588 | 6207256 |  |  |
|  EQ/MFS International Growth Portfolio | 1999081 | 15697959 | 909601 | (1901099) | 4729 | 2920703 | 17631893 |  |  |
|  EQ/Small Company Index Portfolio | 1993195 | 22969647 | 1717941 | (1945963) | 2888 | 2449471 | 25193984 |  |  |
|  EQ/Value Equity Portfolio | 269953 | 5555860 | 759256 | (272165) | (640) | 620141 | 6662452 |  |  |
|  Multimanager Aggressive Equity Portfolio | 46807 | 3584896 | 465456 | (504784) | (4905) | 644830 | 4185493 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 1515198 | 10669393 | 2596225 | (951236) | (130) | 534625 | 12848877 | 571737 |  |
|  1290 VT High Yield Bond Portfolio | 1520500 | 12470505 | 2389077 | (1362229) | (4203) | 814752 | 14307902 |  |  |
|  EQ/Core Bond Index Portfolio | 956420 | 9056437 | 1662813 | (1908258) | (104) | 466389 | 9277277 |  |  |
|  EQ/Core Plus Bond Portfolio | 4034122 | 11897301 | 2656085 | (1104034) | 2452 | 990354 | 14442158 |  |  |
|  EQ/Long-Term Bond Portfolio | 1458131 | 8349960 | 1954293 | (718458) | (2337) | 594299 | 10177757 |  |  |
|  EQ/PIMCO Ultra Short Bond Portfolio | 1188223 | 9891868 | 2559780 | (731036) | 77 | 387302 | 12107991 |  |  |
|  EQ/Quality Bond PLUS Portfolio | 1064274 | 7879528 | 1628904 | (1377762) | 11156 | 404292 | 8546118 |  |  |
|  **Total** |  | **251651793** | **30013180** | **(28108538)** | **660483** | **33619588** | **287836506** | **571737** |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

TARGET 2035 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $12848877 | $274987629 | $— | $287836506 |
|  **Total Assets** | $**12848877** | $**274987629** | $**—** | $**287836506** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**12848877** | $**274987629** | $**—** | $**287836506** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $102951078 |
|  Aggregate gross unrealized depreciation | (6153763) |
|  Net unrealized appreciation | $96797315 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $191039191 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

TARGET 2045 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (81.7%)** |  |  |
|  EQ/American Century Mid Cap Value Portfolio‡ | 213935 | $5044586 |
|  EQ/Emerging Markets Equity PLUS Portfolio‡ | 1385871 | 15715773 |
|  EQ/Equity 500 Index Portfolio‡ | 1078654 | 104953013 |
|  EQ/International Equity Index Portfolio‡ | 2519679 | 34771565 |
|  EQ/Janus Enterprise Portfolio‡ | 199823 | 4791755 |
|  EQ/MFS International Growth Portfolio‡ | 2142275 | 18894868 |
|  EQ/Small Company Index Portfolio‡ | 2201335 | 27824874 |
|  EQ/Value Equity Portfolio‡ | 324824 | 8016654 |
|  Multimanager Aggressive Equity Portfolio‡ | 40828 | 3650857 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 223663945 |
|  **Fixed Income (18.3%)** |  |  |
|  1290 Diversified Bond Fund‡ | 811573 | 6882143 |
|  1290 VT High Yield Bond Portfolio‡ | 868058 | 8168426 |
|  EQ/Core Bond Index Portfolio‡ | 776832 | 7535274 |
|  EQ/Core Plus Bond Portfolio‡ | 2444856 | 8752583 |
|  EQ/Long-Term Bond Portfolio‡ | 1009253 | 7044588 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 658480 | 6709910 |
|  EQ/Quality Bond PLUS Portfolio‡ | 644402 | 5174546 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 50267470 |
|  **Total Investments in Securities (100.0%**)<br>*(Cost $175,206,073)* | **Total Investments in Securities (100.0%**)<br>*(Cost $175,206,073)* | 273931415 |
|  **Other Assets Less Liabilities (0.0%)†** | **Other Assets Less Liabilities (0.0%)†** | (89723) |
|  **Net Assets (100%)** |  | $273841692 |

---

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

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

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

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

TARGET 2045 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds**<br>**from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/<br>Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/American Century Mid Cap Value Portfolio | 213935 | 4880008 | 155724 | (396988) | (416) | 406258 | 5044586 |  |  |
|  EQ/Emerging Markets Equity PLUS Portfolio | 1385871 | 12962231 | 421185 | (1038168) | 3016 | 3367509 | 15715773 |  |  |
|  EQ/Equity 500 Index Portfolio | 1078654 | 94600579 | 5023616 | (8457060) | 462573 | 13323305 | 104953013 |  |  |
|  EQ/International Equity Index Portfolio | 2519679 | 29021659 | 944165 | (2617701) | 135720 | 7287722 | 34771565 |  |  |
|  EQ/Janus Enterprise Portfolio | 199823 | 4796047 | 205724 | (496988) | (1990) | 288962 | 4791755 |  |  |
|  EQ/MFS International Growth Portfolio | 2142275 | 16334067 | 575027 | (1062210) | 196 | 3047788 | 18894868 |  |  |
|  EQ/Small Company Index Portfolio | 2201335 | 27063243 | 834847 | (2614552) | 4118 | 2537218 | 27824874 |  |  |
|  EQ/Value Equity Portfolio | 324824 | 7063962 | 582645 | (369009) | 53 | 739003 | 8016654 |  |  |
|  Multimanager Aggressive Equity Portfolio | 40828 | 3308716 | 268032 | (470472) | (7209) | 551790 | 3650857 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 811573 | 6132513 | 1194464 | (737998) | (194) | 293358 | 6882143 | 312314 |  |
|  1290 VT High Yield Bond Portfolio | 868058 | 7314321 | 1155763 | (766062) | (1838) | 466242 | 8168426 |  |  |
|  EQ/Core Bond Index Portfolio | 776832 | 6274495 | 1644184 | (737998) | (497) | 355090 | 7535274 |  |  |
|  EQ/Core Plus Bond Portfolio | 2444856 | 7407754 | 1586408 | (844901) | 1765 | 601557 | 8752583 |  |  |
|  EQ/Long-Term Bond Portfolio | 1009253 | 6120894 | 1187946 | (683890) | (1692) | 421330 | 7044588 |  |  |
|  EQ/PIMCO Ultra Short Bond Portfolio | 658480 | 5631399 | 1436191 | (571601) | (39) | 213960 | 6709910 |  |  |
|  EQ/Quality Bond PLUS Portfolio | 644402 | 4493471 | 931494 | (496483) | 1575 | 244489 | 5174546 |  |  |
|  **Total** |  | **243405359** | **18147415** | **(22362081)** | **595141** | **34145581** | **273931415** | **312314** |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

TARGET 2045 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $6882143 | $267049272 | $— | $273931415 |
|  **Total Assets** | $**6882143** | $**267049272** | $**—** | $**273931415** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**6882143** | $**267049272** | $**—** | $**273931415** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $101694272 |
|  Aggregate gross unrealized depreciation | (3072123) |
|  Net unrealized appreciation | $98622149 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $175309266 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

TARGET 2055 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (91.7%)** |  |  |
|  EQ/American Century Mid Cap Value Portfolio‡ | 87822 | $2070844 |
|  EQ/Emerging Markets Equity PLUS Portfolio‡ | 828886 | 9399567 |
|  EQ/Equity 500 Index Portfolio‡ | 669096 | 65103010 |
|  EQ/International Equity Index Portfolio‡ | 1596720 | 22034735 |
|  EQ/Janus Enterprise Portfolio‡ | 74735 | 1792145 |
|  EQ/MFS International Growth Portfolio‡ | 1553832 | 13704797 |
|  EQ/Small Company Index Portfolio‡ | 1486422 | 18788377 |
|  EQ/Value Equity Portfolio‡ | 261057 | 6442882 |
|  Multimanager Aggressive Equity Portfolio‡ | 35600 | 3183387 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 142519744 |
|  **Fixed Income (8.3%)** |  |  |
|  1290 Diversified Bond Fund‡ | 190905 | 1618874 |
|  1290 VT High Yield Bond Portfolio‡ | 315649 | 2970253 |
|  EQ/Core Bond Index Portfolio‡ | 140532 | 1363165 |
|  EQ/Core Plus Bond Portfolio‡ | 607905 | 2176301 |
|  EQ/Long-Term Bond Portfolio‡ | 297078 | 2073608 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 135695 | 1382734 |
|  EQ/Quality Bond PLUS Portfolio‡ | 164270 | 1319091 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 12904026 |
|  **Total Investments in Securities (100.0%)**<br> *(Cost $113,705,418)* |  | 155423770 |
|  **Other Assets Less Liabilities (0.0%)†** |  | (61555) |
|  **Net Assets (100%)** |  | $155362215 |

---

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

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

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

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

TARGET 2055 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/<br>Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/American Century Mid Cap Value Portfolio | 87822 | 1769046 | 185319 | (45235) | 7 | 161707 | 2070844 |  |  |
|  EQ/Emerging Markets Equity PLUS Portfolio | 828886 | 7277257 | 629898 | (510703) | 424 | 2002691 | 9399567 |  |  |
|  EQ/Equity 500 Index Portfolio | 669096 | 54217584 | 4149040 | (1476916) | 465 | 8212837 | 65103010 |  |  |
|  EQ/International Equity Index Portfolio | 1596720 | 16498915 | 1426629 | (342892) | 413 | 4451670 | 22034735 |  |  |
|  EQ/Janus Enterprise Portfolio | 74735 | 1547719 | 185318 | (45235) | (8) | 104351 | 1792145 |  |  |
|  EQ/MFS International Growth Portfolio | 1553832 | 11270988 | 888149 | (623121) | (108) | 2168889 | 13704797 |  |  |
|  EQ/Small Company Index Portfolio | 1486422 | 16446699 | 1271294 | (727782) | (166) | 1798332 | 18788377 |  |  |
|  EQ/Value Equity Portfolio | 261057 | 5510436 | 484035 | (116338) | 11 | 564738 | 6442882 |  |  |
|  Multimanager Aggressive Equity Portfolio | 35600 | 2698222 | 178329 | (147861) | 50 | 454647 | 3183387 |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 190905 | 1269002 | 307621 | (24449) |  | 66700 | 1618874 | 69742 |  |
|  1290 VT High Yield Bond Portfolio | 315649 | 2325339 | 526823 | (44048) | (2) | 162141 | 2970253 |  |  |
|  EQ/Core Bond Index Portfolio | 140532 | 1147112 | 169922 | (19556) | (1) | 65688 | 1363165 |  |  |
|  EQ/Core Plus Bond Portfolio | 607905 | 1588011 | 479367 | (32989) |  | 141912 | 2176301 |  |  |
|  EQ/Long-Term Bond Portfolio | 297078 | 1570370 | 419368 | (32989) | (8) | 116867 | 2073608 |  |  |
|  EQ/PIMCO Ultra Short Bond Portfolio | 135695 | 967564 | 394921 | (19556) | 2 | 39803 | 1382734 |  |  |
|  EQ/Quality Bond PLUS Portfolio | 164270 | 940125 | 339920 | (19556) | (4) | 58606 | 1319091 |  |  |
|  **Total** |  | **127044389** | **12035953** | **(4229226)** | **1075** | **20571579** | **155423770** | **69742** |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

TARGET 2055 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $1618874 | $153804896 | $— | $155423770 |
|  **Total Assets** | $**1618874** | $**153804896** | $**—** | $**155423770** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**1618874** | $**153804896** | $**—** | $**155423770** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $41873496 |
|  Aggregate gross unrealized depreciation | (242854) |
|  Net unrealized appreciation | $41630642 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $113793128 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (64.8%)** |  |  |
|  iShares Core MSCI EAFE ETF | 404370 | $35305545 |
|  iShares Core S&P 500 ETF | 55538 | 37171583 |
|  iShares Core S&P Mid-Cap ETF | 191450 | 12494027 |
|  iShares Core S&P Small-Cap ETF | 20750 | 2465722 |
|  iShares MSCI EAFE ETF | 109260 | 10201606 |
|  iShares Russell 2000 ETF | 10825 | 2619217 |
|  Vanguard Large-Cap ETF | 42160 | 12979378 |
|  Vanguard S&P 500 ETF | 64070 | 39235187 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 152472265 |
|  **Fixed Income (34.7%)** |  |  |
|  Vanguard Intermediate-Term Corporate Bond ETF(x) | 971557 | 81717659 |
|  **Total Exchange Traded Funds (99.5%)<br>(***Cost $193,759,330)* |  | 234189924 |
|  **SHORT-TERM INVESTMENTS:** |  |  |
|  Investment Companies (7.4%) |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 16362729 | 16362729 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 1204092 | 1204574 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 17567303 |
|  **Total Short-Term Investments (7.4%)**<br> *(Cost $17,567,415)* |  | 17567303 |
|  **Total Investments in Securities (106.9%)**<br> *(Cost $211,326,745)* |  | 251757227 |
|  **Other Assets Less Liabilities (-6.9%)** |  | (16306154) |
|  **Net Assets (100%)** |  | $235451073 |

---

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $65,750,133. This was collateralized by $50,795,428 of various U.S. Government Treasury Securities, ranging from 0.000% – 5.375%, maturing 10/23/25 – 2/15/55 and by cash of $16,362,729 which was subsequently invested in investment companies.* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Exchange Traded Funds** | $234189924 | $— | $— | $234189924 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 17567303 |  |  | 17567303 |
|  **Total Assets** | $**251757227** | $**—** | $**—** | $**251757227** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**251757227** | $**—** | $**—** | $**251757227** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $39264015 |
|  Aggregate gross unrealized depreciation | (112) |
|  Net unrealized appreciation | $39263903 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $212493324 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT MULTI-ALTERNATIVE STRATEGIES PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Alternatives (26.1%)** |  |  |
|  iMGP DBi Managed Futures Strategy ETF(x) | 43230 | $1180611 |
|  NYLI Merger Arbitrage ETF(x)\* | 42090 | 1511031 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Alternatives** |  | 2691642 |
|  **Commodity (17.1%)** |  |  |
|  Invesco DB Agriculture Fund | 15520 | 415315 |
|  Invesco DB Energy Fund | 21120 | 401701 |
|  Invesco DB Precious Metals Fund | 10570 | 939956 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Commodity** |  | 1756972 |
|  **Equity (26.6%)** |  |  |
|  iShares Core U.S. REIT ETF | 11630 | 682914 |
|  JPMorgan Equity Premium Income ETF(x) | 15210 | 868491 |
|  JPMorgan Nasdaq Equity Premium Income ETF | 8440 | 485469 |
|  Vanguard Global ex-U.S. Real Estate ETF | 14590 | 696526 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 2733400 |
|  **Fixed Income (29.9%)** |  |  |
|  iShares Convertible Bond ETF | 17130 | 1713857 |
|  Vanguard Short-Term Inflation-Protected Securities ETF | 26970 | 1365491 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 3079348 |
|  **Total Exchange Traded Funds (99.7%)**<br>*(Cost $9,186,500)* |  | 10261362 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.2%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 23300 | 23300 |
|  **Total Short-Term Investments (0.2%)**<br> *(Cost $23,300)* |  | 23300 |
|  **Total Investments in Securities (99.9%)**<br> *(Cost $9,209,800)* |  | 10284662 |
|  **Other Assets Less Liabilities (0.1%)** |  | 9561 |
|  **Net Assets (100%)** |  | $10294223 |

---

*\** *Non-income producing.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $37,354. This was collateralized by $14,803 of various U.S. Government Treasury Securities, ranging from 0.125% – 5.375%, maturing 7/15/26 – 2/15/55 and by cash of $23,300 which was subsequently invested in investment companies.* 

*Glossary:* <br> *REIT* *— Real Estate Investment Trust*

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT MULTI-ALTERNATIVE STRATEGIES PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Exchange Traded Funds** |  |  |  |  |
|  Exchange Traded Funds | $10261362 | $— | $— | $10261362 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 23300 |  |  | 23300 |
|  **Total Assets** | $**10284662** | $**—** | $**—** | $**10284662** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**10284662** | $**—** | $**—** | $**10284662** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $1022705 |
|  Aggregate gross unrealized depreciation | (125225) |
|  Net unrealized appreciation | $897480 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $9387182 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT CONVERTIBLE SECURITIES PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  COMMON STOCK: |  |  |
|  **Utilities (0.0%)†** |  |  |
|  ***Multi-Utilities (0.0%)†*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc.<br>(*Cost $–*) | 2 | $122 |
|  CONVERTIBLE PREFERRED STOCKS: |  |  |
|  **Financials (4.9%)** |  |  |
|  ***Banks (2.6%)*** |  |  |
|  Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%(y) | 520 | 665600 |
|  Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%(y) | 645 | 796117 |
|  |  | 1461717 |
|  ***Capital Markets (1.4%)*** |  |  |
|  AMG Capital Trust II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150% | 1615 | 103384 |
|  Ares Management Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750% | 5167 | 256748 |
|  KKR & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250% | 8200 | 429270 |
|  |  | 789402 |
|  ***Financial Services (0.9%)*** |  |  |
|  Apollo Global Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750% | 4960 | 348589 |
|  Shift4 Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000% | 1575 | 149420 |
|  |  | 498009 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 2749128 |
|  **Health Care (0.4%)** |  |  |
|  ***Health Care Providers & Services (0.2%)*** |  |  |
|  BrightSpring Health Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750% | 1000 | 101090 |
|  ***Life Sciences Tools & Services (0.2%)*** |  |  |
|  Bruker Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%\* | 390 | 106002 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 207092 |
|  **Industrials (2.7%)** |  |  |
|  ***Aerospace & Defense (2.4%)*** |  |  |
|  Boeing Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000% | 19050 | 1325309 |
|  ***Machinery (0.1%)*** |  |  |
|  Chart Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750% | 1000 | 71060 |
|  ***Trading Companies & Distributors (0.2%)*** |  |  |
|  QXO, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500% | 2100 | 115479 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 1511848 |
|  **Information Technology (1.4%)** |  |  |
|  ***Semiconductors & Semiconductor Equipment (0.6%)*** |  |  |
|  Microchip Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%(x) | 5200 | 306956 |
|  ***Software (0.3%)*** |  |  |
|  Strategy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%(y) | 2000 | 183400 |
|  ***Technology Hardware, Storage & Peripherals (0.5%)*** |  |  |
|  Hewlett Packard Enterprise Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625% | 4500 | 305550 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 795906 |
|  **Materials (0.5%)** |  |  |
|  ***Chemicals (0.5%)*** |  |  |
|  Albemarle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250% | 8000 | 303040 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 303040 |
|  **Utilities (1.3%)** |  |  |
|  ***Electric Utilities (1.3%)*** |  |  |
|  NextEra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.299% | 11500 | 560725 |
|  PG&E Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000% | 5000 | 196900 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 757625 |
|  **Total Convertible Preferred Stocks (11.2%)**<br> *(Cost $6,145,416)* |  | 6324639 |
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Convertible Bonds (88.3%)** |  |  |
|  **Communication Services (2.8%)** |  |  |
|  ***Diversified Telecommunication Services (0.2%)*** |  |  |
|  AST SpaceMobile, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 10/15/32§ | $107000 | 110906 |
|  ***Entertainment (1.0%)*** |  |  |
|  Liberty Media Corp.-Liberty Formula One |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/15/27 | 78000 | 103428 |
|  Live Nation Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 1/15/29 | 148000 | 238740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 1/15/30§ | 204000 | 226134 |
|  |  | 568302 |
|  ***Interactive Media & Services (0.5%)*** |  |  |
|  Snap, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 3/1/28 | 75000 | 66862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 5/1/30 | 125000 | 106875 |
|  Trump Media & Technology Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 5/29/28§ | 150000 | 139594 |
|  |  | 313331 |
|  ***Media (1.1%)*** |  |  |
|  Cable One, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 3/15/26 | 90000 | 87660 |
|  Liberty Broadband Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 3/31/53§ | 175000 | 172725 |
|  Liberty Media Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 9/30/53§ | 170000 | 277440 |
|  Sirius XM Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 3/15/28 | 75000 | 78188 |
|  |  | 616013 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 1608552 |
|  **Consumer Discretionary (16.8%)** |  |  |
|  ***Automobile Components (0.2%)*** |  |  |
|  LCI Industries |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/30§ | 92000 | 93932 |
|  ***Automobiles (3.0%)*** |  |  |
|  Ford Motor Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 3/15/26 | 405000 | 410467 |
|  Li Auto, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 5/1/28 | 155000 | 176623 |
|  Lucid Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 12/15/26§ | 175000 | 162750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/1/30§ | 175000 | 165550 |
|  NIO, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/15/29 | 70000 | 74552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/30 | 95000 | 99370 |
|  Rivian Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 3/15/29 | 275000 | 284762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 10/15/30 | 270000 | 248024 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT CONVERTIBLE SECURITIES PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Winnebago Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 1/15/30 | $60000 | $53580 |
|  |  | 1675678 |
|  ***Broadline Retail (5.8%)*** |  |  |
|  Alibaba Group Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 6/1/31 | 840000 | 1543080 |
|  Etsy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 10/1/26 | 125000 | 129474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 9/1/27 | 60000 | 55186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 6/15/28 | 205000 | 180810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 6/15/30§ | 100000 | 109000 |
|  JD.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 6/1/29 | 335000 | 359120 |
|  Liberty Interactive LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/29 | 50000 | 4500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 2/15/30 | 60000 | 4950 |
|  Match Group Financeco 2, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 6/15/26§ | 80000 | 77597 |
|  Match Group Financeco 3, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 1/15/30§ | 95000 | 87067 |
|  PDD Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 12/1/25 | 150000 | 148650 |
|  Sea Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 12/1/25 | 185000 | 365283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 9/15/26 | 220000 | 210694 |
|  |  | 3275411 |
|  ***Diversified Consumer Services (0.3%)*** |  |  |
|  Stride, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 9/1/27 | 65000 | 184746 |
|  ***Hotels, Restaurants & Leisure (5.1%)*** |  |  |
|  Airbnb, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 3/15/26 | 315000 | 307913 |
|  Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/1/27 | 175000 | 390851 |
|  Cheesecake Factory, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/15/30§ | 87000 | 88784 |
|  DoorDash, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 5/15/30§ | 456000 | 518244 |
|  DraftKings Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 3/15/28 | 200000 | 179500 |
|  Expedia Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 2/15/26 | 150000 | 151050 |
|  H World Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/1/26 | 75000 | 83086 |
|  MakeMyTrip Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 7/1/30§ | 225000 | 232297 |
|  Marriott Vacations Worldwide Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 1/15/26 | 125000 | 122900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 12/15/27 | 80000 | 76256 |
|  NCL Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 4/15/30§ | 100000 | 117687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 9/15/30§ | 180000 | 181575 |
|  Trip.com Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 6/15/29 | 243000 | 309704 |
|  Vail Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 1/1/26 | 105000 | 103530 |
|  |  | 2863377 |
|  ***Household Durables (0.1%)*** |  |  |
|  Meritage Homes Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 5/15/28 | 80000 | 81877 |
|  ***Leisure Products (0.2%)*** |  |  |
|  Peloton Interactive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/1/29 | 60000 | 134160 |
|  ***Specialty Retail (2.1%)*** |  |  |
|  GameStop Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 4/1/30§ | 270000 | 306315 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 6/15/32§ | 420000 | 478590 |
|  Guess?, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/15/28 | 75000 | 74268 |
|  Wayfair, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 9/15/27 | 67000 | 102093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/15/28 | 120000 | 248820 |
|  |  | 1210086 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 9519267 |
|  **Consumer Staples (0.6%)** |  |  |
|  ***Food Products (0.5%)*** |  |  |
|  Beyond Meat, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 3/15/27 | 230000 | 45425 |
|  Freshpet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 4/1/28 | 70000 | 78680 |
|  Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 8/15/27 | 119000 | 133518 |
|  |  | 257623 |
|  ***Household Products (0.1%)*** |  |  |
|  Spectrum Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 6/1/29 | 64000 | 59392 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 317015 |
|  **Energy (1.2%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (1.2%)*** |  |  |
|  Centrus Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 11/1/30§ | 58000 | 189950 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 8/15/32§ | 130000 | 200525 |
|  Golar LNG Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 12/15/30§ | 100000 | 101000 |
|  Kosmos Energy Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 3/15/30 | 80000 | 49240 |
|  Northern Oil & Gas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 4/15/29 | 93000 | 93139 |
|  World Kinect Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 7/1/28 | 50000 | 54984 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 688838 |
|  **Financials (6.1%)** |  |  |
|  ***Banks (0.4%)*** |  |  |
|  Barclays Bank plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series MSFT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 2/16/29 | 125000 | 140749 |
|  BofA Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.600%, 5/25/27 | 100000 | 98550 |
|  |  | 239299 |
|  ***Capital Markets (2.2%)*** |  |  |
|  Coinbase Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 6/1/26 | 245000 | 271950 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 10/1/29§ | 229000 | 243951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 4/1/30 | 197000 | 247333 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 10/1/32§ | 252000 | 278334 |
|  HAT Holdings I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/15/28§ | 61000 | 76220 |
|  JPMorgan Chase Financial Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 6/15/27 | 40000 | 46320 |
|  WisdomTree, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 8/15/30§ | 70000 | 74141 |
|  |  | 1238249 |
|  ***Consumer Finance (1.6%)*** |  |  |
|  Qfin Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 4/1/30§ | 85000 | 73100 |
|  SoFi Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 10/15/26§ | 98000 | 127351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 3/15/29§ | 142000 | 404203 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT CONVERTIBLE SECURITIES PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Upstart Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/1/29§ | $70000 | $97534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 11/15/30§ | 104000 | 97292 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 2/15/32§ | 110000 | 99000 |
|  |  | 898480 |
|  ***Financial Services (1.7%)*** |  |  |
|  Affirm Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 12/15/29§ | 133000 | 144438 |
|  Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 5/1/26 | 40000 | 38840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 11/1/27 | 140000 | 127330 |
|  Euronet Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 10/1/30§ | 145000 | 138112 |
|  Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 3/1/31 | 313000 | 286475 |
|  Shift4 Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 12/15/25 | 125000 | 128250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 8/1/27 | 104000 | 102345 |
|  |  | 965790 |
|  ***Insurance (0.1%)*** |  |  |
|  Oscar Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 9/1/30§ | 80000 | 87986 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.1%)*** |  |  |
|  Starwood Property Trust, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 7/15/27 | 50000 | 52850 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 3482654 |
|  **Health Care (9.5%)** |  |  |
|  ***Biotechnology (4.0%)*** |  |  |
|  Alnylam Pharmaceuticals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 9/15/27(x) | 167000 | 274464 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 9/15/28§ | 107000 | 105997 |
|  Ascendis Pharma A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 4/1/28 | 92000 | 125120 |
|  BioMarin Pharmaceutical, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 5/15/27(x) | 105000 | 99540 |
|  Bridgebio Pharma, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/15/27 | 135000 | 189270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 2/1/29 | 100000 | 98450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 3/1/31§ | 89000 | 118637 |
|  Cytokinetics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 10/1/31§ | 108000 | 123592 |
|  Exact Sciences Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 3/15/27 | 110000 | 105545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 3/1/28 | 120000 | 110820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/1/30§ | 40000 | 41485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 4/15/31§ | 100000 | 93047 |
|  Halozyme Therapeutics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 3/1/27 | 140000 | 160125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 8/15/28 | 113000 | 158765 |
|  Immunocore Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/1/30 | 70000 | 63091 |
|  Ionis Pharmaceuticals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 4/1/26 | 105000 | 128835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 6/15/28 | 100000 | 138188 |
|  Sarepta Therapeutics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 9/15/27 | 70000 | 61579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 9/1/30§ | 100000 | 80000 |
|  |  | 2276550 |
|  ***Health Care Equipment & Supplies (3.1%)*** |  |  |
|  Alphatec Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 3/15/30§ | 62000 | 73729 |
|  CONMED Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 6/15/27 | 115000 | 109423 |
|  Dexcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 11/15/25 | 260000 | 257920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 5/15/28 | 165000 | 150398 |
|  Enovis Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/15/28 | 101000 | 99334 |
|  Envista Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 8/15/28 | 70000 | 65931 |
|  Haemonetics Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 3/1/26 | 55000 | 53762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 6/1/29 | 138000 | 127327 |
|  Integer Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 3/15/30§ | 183000 | 177327 |
|  iRhythm Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 9/1/29 | 109000 | 149548 |
|  Lantheus Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 12/15/27 | 80000 | 84040 |
|  Merit Medical Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/1/29§ | 135000 | 156870 |
|  Novocure Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 11/1/25 | 120000 | 118800 |
|  TransMedics Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 6/1/28 | 89000 | 126344 |
|  |  | 1750753 |
|  ***Health Care Providers & Services (0.7%)*** |  |  |
|  Guardant Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 11/15/27 | 85000 | 81430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 2/15/31 | 100000 | 129952 |
|  Hims & Hers Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 5/15/30§ | 156000 | 175110 |
|  |  | 386492 |
|  ***Health Care Technology (0.4%)*** |  |  |
|  Evolent Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/1/29 | 90000 | 72045 |
|  Teladoc Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 6/1/27(x) | 150000 | 140099 |
|  |  | 212144 |
|  ***Life Sciences Tools & Services (0.4%)*** |  |  |
|  Repligen Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 12/15/28 | 88000 | 88264 |
|  Tempus AI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 7/15/30§ | 136000 | 170680 |
|  |  | 258944 |
|  ***Pharmaceuticals (0.9%)*** |  |  |
|  Jazz Investments I Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 6/15/26 | 190000 | 201685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 9/15/30 | 165000 | 195773 |
|  Ligand Pharmaceuticals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 10/1/30§ | 80000 | 90044 |
|  |  | 487502 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 5372385 |
|  **Industrials (7.8%)** |  |  |
|  ***Aerospace & Defense (1.6%)*** |  |  |
|  AeroVironment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 7/15/30 | 125000 | 154875 |
|  Axon Enterprise, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 12/15/27 | 50000 | 156750 |
|  Rocket Lab USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/1/29§ | 60000 | 561596 |
|  Virgin Galactic Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/1/27§ | 53000 | 22446 |
|  |  | 895667 |
|  ***Commercial Services & Supplies (0.2%)*** |  |  |
|  Tetra Tech, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/15/28 | 100000 | 108000 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT CONVERTIBLE SECURITIES PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  ***Construction & Engineering (0.6%)*** |  |  |
|  Fluor Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 8/15/29 | $85000 | $100852 |
|  Granite Construction, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 5/15/28 | 50000 | 120300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/15/30 | 85000 | 130008 |
|  |  | 351160 |
|  ***Electrical Equipment (1.9%)*** |  |  |
|  Array Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 12/1/28 | 50000 | 43288 |
|  Bloom Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/1/28 | 115000 | 514855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/1/29 | 74000 | 305398 |
|  Enovix Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 9/15/30§ | 60000 | 71175 |
|  Fluence Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 6/15/30§ | 65000 | 54763 |
|  Sunrun, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/1/30 | 75000 | 101910 |
|  |  | 1091389 |
|  ***Ground Transportation (2.0%)*** |  |  |
|  Hertz Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/1/30§ | 60000 | 60455 |
|  Lyft, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 3/1/29 | 96000 | 123840 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 9/15/30§ | 58000 | 69977 |
|  Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 12/15/25 | 155000 | 188790 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 5/15/28§ | 204000 | 216648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 12/1/28 | 315000 | 463050 |
|  |  | 1122760 |
|  ***Machinery (0.3%)*** |  |  |
|  Greenbrier Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 4/15/28 | 40000 | 42816 |
|  JBT Marel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 5/15/26 | 50000 | 50315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 9/15/30§ | 46000 | 44689 |
|  |  | 137820 |
|  ***Passenger Airlines (0.2%)*** |  |  |
|  JetBlue Airways Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 4/1/26 | 60000 | 58277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 9/1/29 | 60000 | 61950 |
|  |  | 120227 |
|  ***Professional Services (1.0%)*** |  |  |
|  CSG Systems International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 9/15/28 | 55000 | 61022 |
|  Dayforce, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 3/15/26 | 120000 | 117420 |
|  Fiverr International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 11/1/25 | 105000 | 104496 |
|  Parsons Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 3/1/29 | 125000 | 142500 |
|  Planet Labs PBC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 10/15/30§ | 42000 | 56595 |
|  Upwork, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 8/15/26 | 86000 | 83155 |
|  |  | 565188 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 4392211 |
|  **Information Technology (31.7%)** |  |  |
|  ***Communications Equipment (1.4%)*** |  |  |
|  Lumentum Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 12/15/26 | 65000 | 109363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 6/15/28 | 125000 | 174062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 12/15/29 | 120000 | 289620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 3/15/32§ | 210000 | 241080 |
|  |  | 814125 |
|  ***Electronic Equipment, Instruments & Components (1.3%)*** |  |  |
|  Advanced Energy Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 9/15/28 | 100000 | 138450 |
|  Avnet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 9/1/30§ | 57000 | 57542 |
|  Itron, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 3/15/26 | 110000 | 116160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 7/15/30 | 104000 | 119184 |
|  Mirion Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 6/1/30§ | 70000 | 86135 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 10/1/31§ | 12000 | 12876 |
|  OSI Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/1/29 | 56000 | 81172 |
|  Vishay Intertechnology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 9/15/30 | 125000 | 113511 |
|  |  | 725030 |
|  ***IT Services (5.7%)*** |  |  |
|  Akamai Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 9/1/27 | 148000 | 141562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 2/15/29 | 225000 | 211050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 5/15/33§ | 309000 | 310081 |
|  Applied Digital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 6/1/30§ | 70000 | 174995 |
|  Cloudflare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 8/15/26 | 250000 | 311425 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 6/15/30§ | 305000 | 346327 |
|  DigitalOcean Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 12/1/26 | 69000 | 64908 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 8/15/30§ | 110000 | 122582 |
|  GDS Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 6/1/32§ | 100000 | 140800 |
|  Okta, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 6/15/26 | 60000 | 58228 |
|  Shopify, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 11/1/25 | 165000 | 173333 |
|  Snowflake, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 10/1/27(x) | 212000 | 321816 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 10/1/29 | 181000 | 283356 |
|  Spotify USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 3/15/26 | 260000 | 355290 |
|  Wix.com Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 9/15/30§ | 196000 | 214032 |
|  |  | 3229785 |
|  ***Semiconductors & Semiconductor Equipment (2.3%)*** |  |  |
|  Camtek Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 9/15/30§ | 73000 | 81760 |
|  Enphase Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 3/1/26 | 80000 | 77904 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 3/1/28 | 135000 | 116922 |
|  Microchip Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 6/1/30 | 230000 | 222985 |
|  MKS, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 6/1/30 | 213000 | 233235 |
|  Nova Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 9/15/30§ | 134000 | 161087 |
|  ON Semiconductor Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 5/1/27 | 130000 | 147940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 3/1/29 | 230000 | 212214 |
|  Synaptics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 12/1/31§ | 53000 | 52179 |
|  |  | 1306226 |
|  ***Software (16.7%)*** |  |  |
|  Alarm.com Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 1/15/26 | 115000 | 113160 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT CONVERTIBLE SECURITIES PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 6/1/29 | $80000 | $76720 |
|  Bentley Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 1/15/26 | 115000 | 113332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 7/1/27 | 100000 | 94150 |
|  BILL Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 4/1/30§ | 237000 | 210930 |
|  Bitdeer Technologies Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/1/29§ | 85000 | 114113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 7/1/31§ | 100000 | 135500 |
|  BlackLine, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 6/1/29 | 109000 | 113050 |
|  Box, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 9/15/29 | 85000 | 85425 |
|  Cipher Mining, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 10/1/31§ | 171000 | 188186 |
|  Cleanspark, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 6/15/30§ | 100000 | 124036 |
|  Commvault Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 9/15/30§ | 160000 | 165120 |
|  Confluent, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 1/15/27 | 160000 | 150537 |
|  Core Scientific, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/1/29§ | 80000 | 143680 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 6/15/31§ | 123000 | 137452 |
|  CyberArk Software Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 6/15/30§ | 178000 | 197651 |
|  Datadog, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 12/1/29(x)§ | 193000 | 191070 |
|  Dropbox, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 3/1/26 | 135000 | 133170 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 3/1/28 | 100000 | 103200 |
|  Five9, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 3/15/29 | 125000 | 110438 |
|  Guidewire Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 11/1/29(x)§ | 129000 | 150030 |
|  InterDigital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/1/27 | 81000 | 362191 |
|  IREN Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/15/30§ | 70000 | 205332 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series IREN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/15/29§ | 99000 | 353776 |
|  Jamf Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 9/1/26 | 66000 | 63162 |
|  MARA Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 3/1/30§ | 180000 | 179820 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 6/1/31§ | 160000 | 151453 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 8/1/32§ | 152000 | 162868 |
|  Nebius Group NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 6/5/29§ | 80000 | 183240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 9/15/30§ | 260000 | 302380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/5/31§ | 80000 | 185640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 9/15/32§ | 260000 | 302250 |
|  Nutanix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 10/1/27 | 110000 | 151360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 12/15/29§ | 144000 | 162101 |
|  PagerDuty, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/15/28 | 65000 | 63505 |
|  Progress Software Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 4/15/26 | 40000 | 39920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/1/30(x) | 75000 | 75338 |
|  Rapid7, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 3/15/27 | 105000 | 98111 |
|  RingCentral, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 3/15/26 | 120000 | 116940 |
|  Riot Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 1/15/30§ | 100000 | 152676 |
|  Rubrik, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 6/15/30§ | 205000 | 207357 |
|  Strategy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 9/15/28 | 105000 | 198187 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 12/1/29§ | 375000 | 335629 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 3/1/30§ | 310000 | 326275 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 3/15/30 | 183000 | 409646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 3/15/31 | 133000 | 208610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 6/15/32 | 185000 | 329578 |
|  Terawulf, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 2/1/30§ | 100000 | 160961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 9/1/31§ | 150000 | 178500 |
|  Tyler Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 3/15/26 | 105000 | 115238 |
|  Unity Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 11/15/26 | 104000 | 98904 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 3/15/30(x)§ | 123000 | 166127 |
|  Varonis Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 9/15/29 | 80000 | 86240 |
|  Workiva, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 8/15/28 | 144000 | 141840 |
|  Zscaler, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 7/15/28§ | 301000 | 298442 |
|  |  | 9424547 |
|  ***Technology Hardware, Storage & Peripherals (4.3%)*** |  |  |
|  Seagate HDD Cayman |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/1/28 | 245000 | 705600 |
|  Super Micro Computer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 7/15/28§ | 100000 | 113079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/1/29 | 325000 | 331175 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 6/15/30§ | 390000 | 430365 |
|  Western Digital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/15/28(x) | 260000 | 833950 |
|  Xerox Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 3/15/30 | 75000 | 33750 |
|  |  | 2447919 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 17947632 |
|  **Materials (1.1%)** |  |  |
|  ***Metals & Mining (1.1%)*** |  |  |
|  B2Gold Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 2/1/30§ | 87000 | 146682 |
|  MP Materials Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/30§ | 144000 | 458352 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 605034 |
|  **Real Estate (2.8%)** |  |  |
|  ***Diversified REITs (0.4%)*** |  |  |
|  Digital Realty Trust LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 11/15/29§ | 191000 | 200550 |
|  ***Health Care REITs (1.3%)*** |  |  |
|  Ventas Realty LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 6/1/26 | 150000 | 193725 |
|  Welltower OP LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 5/15/28§ | 145000 | 271295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 7/15/29§ | 191000 | 280484 |
|  |  | 745504 |
|  ***Hotel & Resort REITs (0.2%)*** |  |  |
|  Pebblebrook Hotel Trust (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 12/15/26 | 50000 | 49274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 1/15/30§ | 60000 | 58991 |
|  |  | 108265 |
|  ***Industrial REITs (0.3%)*** |  |  |
|  Rexford Industrial Realty LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/15/27§ | 113000 | 112887 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT CONVERTIBLE SECURITIES PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/15/29§ | $63000 | $63441 |
|  |  | 176328 |
|  ***Office REITs (0.3%)*** |  |  |
|  Boston Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/1/30§ | 175000 | 174300 |
|  ***Real Estate Management & Development (0.1%)*** |  |  |
|  Redfin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 4/1/27 | 80000 | 73880 |
|  ***Retail REITs (0.2%)*** |  |  |
|  Federal Realty OP LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 1/15/29§ | 108000 | 109674 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 1588501 |
|  **Utilities (7.9%)** |  |  |
|  ***Electric Utilities (5.1%)*** |  |  |
|  Alliant Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3/15/26 | 105000 | 112928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 5/30/28§ | 79000 | 81409 |
|  Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 4/15/26 | 300000 | 322050 |
|  Evergy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/15/27 | 225000 | 282712 |
|  FirstEnergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/1/26 | 70000 | 72695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 1/15/29§ | 206000 | 218422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 1/15/31§ | 170000 | 183430 |
|  NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/27 | 190000 | 224390 |
|  PG&E Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/1/27 | 356000 | 360023 |
|  Pinnacle West Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/15/27 | 87000 | 93438 |
|  PPL Capital Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 3/15/28 | 145000 | 165518 |
|  Southern Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/15/25 | 172000 | 193586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 6/15/27 | 215000 | 238972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/15/28§ | 223000 | 225676 |
|  TXNM Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 6/1/54 | 101000 | 131723 |
|  |  | 2906972 |
|  ***Gas Utilities (0.3%)*** |  |  |
|  UGI Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/1/28 | 124000 | 158493 |
|  ***Independent Power and Renewable Electricity Producers (0.3%)*** |  |  |
|  Ormat Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 7/15/27 | 68000 | 81838 |
|  XPLR Infrastructure LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 11/15/25§ | 65000 | 64512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 6/15/26§ | 50000 | 48750 |
|  |  | 195100 |
|  ***Multi-Utilities (1.9%)*** |  |  |
|  CenterPoint Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 8/15/26 | 175000 | 194250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/1/28§ | 150000 | 152302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.369%, 9/15/29(e) | 200000 | 81482 |
|  CMS Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 5/1/28 | 113000 | 123735 |
|  WEC Energy Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 6/1/27 | 169000 | 202462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 6/1/28§ | 139000 | 143587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 6/1/29 | 135000 | 165578 |
|  |  | 1063396 |
|  ***Water Utilities (0.3%)*** |  |  |
|  American Water Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 6/15/26 | 150000 | 150210 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 4474171 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Convertible Bonds** |  | 49996260 |
|  **Total Long-Term Debt Securities (88.3%)**<br> *(Cost $42,782,975)* |  | 49996260 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (3.5%)** |  |  |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 100000 | 100000 |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 100000 | 100000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 1769360 | 1769360 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 1969360 |
|  **Total Short-Term Investments (3.5%)**<br> *(Cost $1,969,360)* |  | 1969360 |
|  **Total Investments in Securities (103.0%)**<br> *(Cost $50,897,751)* |  | 58290381 |
|  **Other Assets Less Liabilities (-3.0%)** |  | (1686622) |
|  **Net Assets (100%)** |  | $56603759 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT CONVERTIBLE SECURITIES PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

---

| | |
|:---|:---|
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At September 30, 2025, the market value of these securities amounted to $19,856,445 or 35.1% of net assets.*  |

---

*(e)* *Step Bond - Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of September 30, 2025. Maturity date disclosed is the ultimate maturity date.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(y)* *Securities are perpetual and, thus, do not have a predetermined maturity date. The coupon rate for these securities are fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $1,949,981. This was collateralized by cash of $1,969,360 which was subsequently invested in investment companies.* 

*Glossary:* 

*REIT — Real Estate Investment Trust* 

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Utilities | $122 | $— | $— | $122 |
|  **Convertible Bonds** |  |  |  |  |
|  Communication Services |  | 1608552 |  | 1608552 |
|  Consumer Discretionary |  | 9519267 |  | 9519267 |
|  Consumer Staples |  | 317015 |  | 317015 |
|  Energy |  | 688838 |  | 688838 |
|  Financials |  | 3482654 |  | 3482654 |
|  Health Care |  | 5372385 |  | 5372385 |
|  Industrials |  | 4392211 |  | 4392211 |
|  Information Technology |  | 17947632 |  | 17947632 |
|  Materials |  | 605034 |  | 605034 |
|  Real Estate |  | 1588501 |  | 1588501 |
|  Utilities |  | 4474171 |  | 4474171 |
|  **Convertible Preferred Stocks** |  |  |  |  |
|  Financials | 2749128 |  |  | 2749128 |
|  Health Care | 207092 |  |  | 207092 |
|  Industrials | 1511848 |  |  | 1511848 |
|  Information Technology | 795906 |  |  | 795906 |
|  Materials | 303040 |  |  | 303040 |
|  Utilities | 757625 |  |  | 757625 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 1969360 |  |  | 1969360 |
|  **Total Assets** | $**8294121** | $**49996260** | $**—** | $**58290381** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**8294121** | $**49996260** | $**—** | $**58290381** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $9894559 |
|  Aggregate gross unrealized depreciation | (2891375) |
|  Net unrealized appreciation | $7003184 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $51287197 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Asset-Backed Securities (16.3%)** |  |  |
|  AASET Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.522%, 2/16/50§ | $490984 | $496103 |
|  AASET Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.900%, 5/16/49§ | 886271 | 906288 |
|  ABFC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-WMC1 A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.522%, 6/25/37(l) | 2274048 | 1648296 |
|  ACE Securities Corp. Home Equity Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-ASP5 A2D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.792%, 10/25/36(l) | 2073787 | 643654 |
|  Affirm Asset Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.610%, 2/15/29§ | 525000 | 527158 |
|  Aligned Data Centers Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.937%, 8/15/46§ | 1250000 | 1220131 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.482%, 8/15/46§ | 1000000 | 974541 |
|  Amortizing Residential Collateral Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2002-BC10 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.772%, 1/25/33(l) | 1983142 | 1791307 |
|  AREIT Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CRE9 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.688%, 5/17/41(l)§ | 400000 | 399000 |
|  Bain Capital Credit CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.554%, 7/18/38(l)§ | 1000000 | 1003405 |
|  BDS LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FL11 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.484%, 3/19/39(l)§ | 500000 | 501006 |
|  Blackbird Capital II Aircraft Lease Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.446%, 7/15/46§ | 1306865 | 1245827 |
|  Bridge Street CLO II Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.817%, 7/20/34(l)§ | 500000 | 500071 |
|  BSPRT Issuer Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-FL10 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.415%, 9/15/35(l)§ | 530000 | 530001 |
|  Canyon Capital CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-1A CR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.322%, 1/30/31(l)§ | 500000 | 500841 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-1A DR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.579%, 7/15/30(l)§ | 500000 | 500591 |
|  Canyon CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A DR2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.418%, 7/15/34(l)§ | 500000 | 500176 |
|  Carlyle Global Market Strategies CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-3A DRRR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.175%, 7/20/34(l)§ | 1000000 | 999944 |
|  Carlyle US CLO, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4A D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.525%, 7/20/37(l)§ | 500000 | 502124 |
|  Cathedral Lake VIII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-8A C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.207%, 1/20/35(l)§ | 500000 | 500910 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-8A D1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.007%, 1/20/35(l)§ | 1000000 | 1000761 |
|  CLI Funding VIII LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.640%, 2/18/46§ | 502738 | 463943 |
|  Clover CLO LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3A DR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.868%, 1/25/35(l)§ | 500000 | 500250 |
|  Compass Datacenters Issuer II LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 2/25/49§ | 500000 | 513749 |
|  Cook Park CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.184%, 4/17/30(l)§ | 500000 | 501470 |
|  Crown Point CLO IV Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-4A C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.487%, 4/20/31(l)§ | 500000 | 501016 |
|  CyrusOne Data Centers Issuer I LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 5/20/49§ | 500000 | 485130 |
|  DataBank Issuer, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.060%, 2/27/51§ | 500000 | 493402 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 2/27/51§ | 1500000 | 1481771 |
|  Dryden 41 Senior Loan Fund, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-41A DR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.179%, 4/15/31(l)§ | 500000 | 501108 |
|  Dryden 43 Senior Loan Fund, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-43A DR3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.837%, 4/20/34(l)§ | 500000 | 500784 |
|  FMC GMSR Issuer Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-GT1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 1/25/26(l)§ | 2000000 | 1969500 |
|  Fremont Home Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-D 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.552%, 11/25/36(l) | 4183154 | 2369204 |
|  Generate CLO 12 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-12A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.613%, 7/20/38(l)§ | 1000000 | 1003062 |
|  Generate CLO 13 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-13A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.132%, 1/20/37(l)§ | 500000 | 502156 |
|  Gilead Aviation LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.524%, 3/15/50§ | 490302 | 497850 |
|  Goldentree Loan Management US CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-17A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.605%, 1/20/39(l)§ | 500000 | 501224 |
|  Goodgreen Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.630%, 4/15/55§ | 234857 | 195552 |
|  GoodLeap Home Improvement Solutions Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.980%, 6/20/49§ | 600000 | 608644 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  ICG US CLO I Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.709%, 7/18/38(l)§ | $500000 | $502045 |
|  JOL Air Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.967%, 4/15/44§ | 266236 | 264290 |
|  Kestrel Aircraft Funding Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/15/38§ | 244366 | 242858 |
|  KREF Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL2 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.557%, 2/15/39(l)§ | 410000 | 401800 |
|  LCM 28 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 28A D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.537%, 10/20/30(l)§ | 500000 | 491619 |
|  MACH 1 Cayman Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.474%, 10/15/39§ | 250815 | 247818 |
|  Madison Park Funding LXIII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-63A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.725%, 7/21/38(l)§ | 500000 | 501685 |
|  Magnetite XLII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-42A D1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.118%, 1/25/38(l)§ | 500000 | 505249 |
|  Magnetite XXIII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-23A DR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.630%, 1/25/35(l)§ | 500000 | 501860 |
|  Magnetite XXXI Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-31A E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.579%, 7/15/34(l)§ | 500000 | 501885 |
|  Merrill Lynch Mortgage Investors Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HE4 A2C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.572%, 7/25/37(l) | 4961179 | 991143 |
|  MF1 LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-FL14 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.374%, 3/19/39(l)§ | 530000 | 531326 |
|  MF1 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL7 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.330%, 10/16/36(l)§ | 150775 | 150681 |
|  MF1 Multifamily Housing Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-FL15 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.824%, 8/18/41(l)§ | 530000 | 531654 |
|  MidOcean Credit CLO III, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-3A BR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.387%, 4/21/31(l)§ | 615734 | 616209 |
|  Mosaic Solar Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.010%, 6/22/43§ | 115691 | 110576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-2GS A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 2/22/44§ | 190941 | 178649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.280%, 9/20/40§ | 149187 | 135369 |
|  Nassau Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-IA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.729%, 7/15/31(l)§ | 79851 | 79861 |
|  Neighborly Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.584%, 4/30/51§ | 3111875 | 2951646 |
|  Neuberger Berman CLO XVII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-17A AR3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.732%, 7/22/38(l)§ | 500000 | 502198 |
|  NP SPE II LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-1A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.372%, 10/21/47§ | 213667 | 209990 |
|  Octagon 53 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.079%, 4/15/34(l)§ | 1000000 | 953585 |
|  Octagon Investment Partners 34 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-1A D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.087%, 1/20/30(l)§ | 500000 | 500558 |
|  OFSI BSL XI Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-11A BR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.129%, 10/18/35(l)§ | 500000 | 500649 |
|  Option One Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-1 M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.842%, 1/25/36(l) | 3164000 | 2495607 |
|  Ownit Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-3 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.767%, 3/25/37(l) | 2311099 | 2372951 |
|  Progress Residential Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-SFR5 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.451%, 6/17/39§ | 1131969 | 1135964 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR4 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.325%, 7/17/41§ | 5000000 | 4696202 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR5 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 8/9/29(l)§ | 2800000 | 2639399 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR3 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.390%, 7/17/42§ | 1400000 | 1280617 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR4 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 8/17/42§ | 6250000 | 6178361 |
|  Retained Vantage Data Centers Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 9/15/48§ | 1500000 | 1477001 |
|  Rockland Park CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.588%, 7/20/38(l)§ | 500000 | 501749 |
|  Sapphire Aviation Finance II Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.228%, 3/15/40§ | 246091 | 235081 |
|  SoFi Consumer Loan Program Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.970%, 6/25/34§ | 700000 | 705576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.040%, 8/15/34§ | 200000 | 200399 |
|  Sound Point CLO XX Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-2A C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.525%, 7/26/31(l)§ | 500000 | 500088 |
|  Sound Point CLO XXIV, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-3A DR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.080%, 10/25/34(l)§ | 500000 | 481004 |
|  Sound Point CLO XXVI Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A DR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.937%, 7/20/34(l)§ | 500000 | 499983 |
|  Sound Point CLO XXXII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4A D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.980%, 10/25/34(l)§ | 500000 | 485629 |
|  Storm King Park CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.678%, 10/15/37(l)§ | 1000000 | 1002500 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Subway Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A23 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.505%, 7/30/54§ | $248125 | $258480 |
|  Sunrun Atlas Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.610%, 2/1/55§ | 408335 | 390558 |
|  Switch ABS Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.436%, 6/25/54§ | 220000 | 221111 |
|  TAL Advantage VII LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 9/20/45§ | 190000 | 180704 |
|  THL Credit Wind River CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-2A DR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.479%, 1/15/31(l)§ | 500000 | 500724 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-2A ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.329%, 1/15/31(l)§ | 500000 | 456154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.479%, 7/15/30(l)§ | 500000 | 500299 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.079%, 7/15/30(l)§ | 500000 | 501554 |
|  Trestles CLO VI Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-6A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.498%, 4/25/38(l)§ | 500000 | 500246 |
|  Trestles CLO VIII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-8A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.627%, 6/11/35(l)§ | 1000000 | 1001668 |
|  Tricon Residential Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 8/17/44§ | 2226000 | 2258520 |
|  Triton Container Finance VIII LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.110%, 9/20/45§ | 287500 | 269296 |
|  Triumph Rail Holdings LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 6/19/51§ | 394405 | 377100 |
|  TRTX Issuer Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL4 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.457%, 3/15/38(l)§ | 113934 | 113893 |
|  Upland CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-1A CR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.487%, 4/20/31(l)§ | 1000000 | 1001722 |
|  Upstart Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.220%, 6/20/35§ | 250000 | 251434 |
|  USQ Rail II LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.210%, 6/28/51§ | 421015 | 403719 |
|  Vivint Solar Financing V LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.730%, 4/30/48§ | 823357 | 787000 |
|  Voya CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-4A DR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.532%, 7/14/31(l)§ | 1000000 | 1000084 |
|  Warwick Capital CLO 1 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.251%, 10/20/38(l)§ | 1500000 | 1500656 |
|  WAVE LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.597%, 9/15/44§ | 477489 | 461427 |
|  Wellfleet CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A A1RN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.738%, 7/15/37(l)§ | 500000 | 500582 |
|  Wind River CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-3A DR2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.994%, 10/22/31(l)§ | 1500000 | 1503737 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Asset-Backed Securities** |  | 85415932 |
|  **Collateralized Mortgage Obligations (6.5%)** |  |  |
|  Alternative Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-19CB A15 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/25/36 | 362229 | 202690 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-6CB 2A10 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5/25/36 | 1614246 | 592903 |
|  Asset-Backed Certificates Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-IM1 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.752%, 4/25/36(l) | 596828 | 542642 |
|  Banc of America Funding Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6 1A8 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/25/35 | 157596 | 134372 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-5 3A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 7/25/37 | 1251105 | 1056989 |
|  Banc of America Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3 2A8 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 9/25/37 | 1789100 | 1535143 |
|  CHL Mortgage Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-21 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/25/37 | 1628181 | 703417 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-J4 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 9/25/36 | 303505 | 105659 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-14 A18 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 9/25/37 | 1388926 | 680707 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-HY1 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.682%, 4/25/37(l) | 121776 | 113900 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-HY1 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.038%, 3/25/37(l) | 46842 | 41702 |
|  Citigroup Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR2 1A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.411%, 3/25/36(l) | 50853 | 49853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR7 2A3A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.589%, 11/25/36(l) | 78678 | 75592 |
|  CitiMortgage Alternative Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-A2 1A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/25/37 | 914738 | 817144 |
|  COLT Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.596%, 7/25/68(e)§ | 1488369 | 1500219 |
|  FHLMC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4050 ND |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 9/15/41 | 24349 | 24194 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4076 QD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/15/41 | 50131 | 49631 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5057 AX |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/25/50 | 1248033 | 800000 |
|  Figure Line of Credit Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 9/25/49(l)§ | 348551 | 339590 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  FNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-54 NP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/25/43 | $325984 | $306358 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-48 NS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.361%, 8/25/51 IO(l) | 1974695 | 59583 |
|  GNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-188 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/20/50 IO | 2150359 | 254654 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-117 ID |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/20/51 IO | 1313376 | 228320 |
|  GreenPoint Mortgage Funding Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-AR2 1A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.752%, 4/25/47(l) | 1924822 | 1679992 |
|  HomeBanc Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-4 M4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.247%, 10/25/35(l) | 7066300 | 6383802 |
|  Imperial Fund Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NQM4 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.446%, 1/25/57(l)§ | 1500000 | 1200554 |
|  OBX Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-NQM4 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.113%, 3/25/63(e)§ | 1363291 | 1368429 |
|  PRPM LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.179%, 6/25/30(e)§ | 679460 | 681084 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.729%, 7/25/30(e)§ | 2855169 | 2858017 |
|  PRPM Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.255%, 5/25/30(e)§ | 931673 | 933810 |
|  RALI Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-QS17 A7 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/25/36 | 1218019 | 1019302 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-QS8 A10 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/25/37 | 765254 | 614657 |
|  RBSGC Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A 3A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/25/35 | 1386921 | 482357 |
|  RFMSI Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-S6 A14 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 7/25/36 | 102992 | 88910 |
|  Structured Adjustable Rate Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-19XS 1A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.152%, 10/25/35(l) | 719582 | 702494 |
|  Suntrust Alternative Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-1F 2A8 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/25/35 | 83697 | 77902 |
|  Towd Point Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 3/25/58(l)§ | 2500000 | 2186424 |
|  Verus Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.397%, 6/25/66(l)§ | 2500000 | 1897091 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.887%, 4/25/69(l)§ | 750000 | 762220 |
|  Wells Fargo Alternative Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-PA2 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/25/37 | 103072 | 94215 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-PA6 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.089%, 12/28/37(l) | 696083 | 633823 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** |  | 33880345 |
|  **Commercial Mortgage-Backed Securities (5.4%)** |  |  |
|  BAMLL Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-ISQ C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.727%, 8/14/34(l)§ | 516000 | 291993 |
|  BANK, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-BNK5 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.896%, 6/15/60(l) | 557000 | 537405 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN23 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.920%, 12/15/52 | 550000 | 517553 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BN35 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.285%, 6/15/64 | 343000 | 302616 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BN37 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.209%, 11/15/64(l) | 412000 | 324306 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-BNK39 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.181%, 2/15/55 | 530000 | 471882 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-BNK39 E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/15/55§ | 174000 | 115075 |
|  BANK5, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5YR10 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.637%, 10/15/57 | 526000 | 537576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5YR9 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.614%, 8/15/57 | 529000 | 550082 |
|  BANK5 Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5YR6 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.225%, 5/15/57 | 455000 | 480304 |
|  BBCMS Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-C6 F5TC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.811%, 2/15/53(l)§ | 644000 | 473702 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C12 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.689%, 11/15/54 | 653000 | 580880 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C12 XD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.146%, 11/15/54 IO(l)§ | 9899000 | 536581 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C9 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.299%, 2/15/54 | 668000 | 596229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5C29 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.208%, 9/15/57 | 527000 | 540742 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C37 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.382%, 9/15/58(l) | 473000 | 482682 |
|  Benchmark Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B13 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.701%, 8/15/57 | 525000 | 494479 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B23 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.362%, 2/15/54 IO(l) | 4792060 | 234748 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-B32 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.527%, 1/15/55(l) | 530000 | 470653 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-V10 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.277%, 9/15/57 | 530000 | 544649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-V11 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.909%, 11/15/57(l) | 239000 | 251198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-V8 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.707%, 7/15/57 | 528000 | 544788 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-V8 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.189%, 7/15/57(l) | 454000 | 479355 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-V9 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.602%, 8/15/57 | 528000 | 547894 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-V15 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.175%, 6/15/58 | $302000 | $316929 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-V16 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.439%, 8/15/58(l) | 160000 | 166026 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-V17 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.075%, 9/15/58 | 473000 | 483552 |
|  BMO Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5C3 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.286%, 2/15/57(l) | 516000 | 540908 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5C6 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.316%, 9/15/57 | 527000 | 541839 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C11 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.938%, 7/15/58 | 459000 | 477606 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C12 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.557%, 10/15/58 | 472000 | 484110 |
|  BX Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-OC11 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.075%, 12/9/41(l)§ | 350000 | 330771 |
|  Cantor Commercial Real Estate Lending, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-CF1 65C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.123%, 5/15/52(l)§ | 502000 | 50200 |
|  CENT Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CITY A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.091%, 7/10/40(l)§ | 312000 | 314194 |
|  CFCRE Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C6 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.804%, 11/10/49 | 900000 | 841137 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C8 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.199%, 6/15/50(l) | 514000 | 495467 |
|  Citigroup Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-GC36 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 2/10/49(l) | 504000 | 471898 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-P4 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.044%, 7/10/49 IO(l) | 648865 | 4147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-GC41 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.199%, 8/10/56 | 276000 | 243219 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-420K D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.422%, 11/10/42(l)§ | 350000 | 312062 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-GC46 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 2/15/53(l) | 401000 | 355371 |
|  Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-CR16 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.885%, 4/10/47(l) | 900000 | 860283 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR26 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.873%, 10/10/48 IO(l) | 107659 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-DC1 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.432%, 2/10/48(l) | 100000 | 89773 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-DC2 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.027%, 2/10/49 IO(l) | 484247 | 11 |
|  CSAIL Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C1 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.167%, 4/15/50 IO(l) | 81085 | 18 |
|  CSMC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B33 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.766%, 10/10/43(l)§ | 620000 | 550865 |
|  GS Mortgage Securities Corp. Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-RIVR C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.697%, 7/15/35(l)§ | 272000 | 2720 |
|  GS Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-GC26 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.546%, 11/10/47(l)§ | 100000 | 52254 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-GS1 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.238%, 11/10/48(l) | 582000 | 550795 |
|  JP Morgan Chase Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-JP1 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.983%, 1/15/49 IO(l) | 352195 | 266 |
|  JPMCC Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-JP6 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.848%, 7/15/50(l) | 600000 | 524929 |
|  JPMDB Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C2 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.484%, 6/15/49 | 800000 | 752427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C2 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.617%, 6/15/49 IO(l) | 668151 | 3483 |
|  LCCM Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-LC26 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.706%, 7/12/50§ | 400000 | 374675 |
|  Lstar Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-4 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.778%, 3/10/49(l)§ | 72000 | 68622 |
|  Morgan Stanley Bank of America Merrill Lynch Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C31 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.880%, 11/15/49(l) | 500000 | 471761 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C33 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.105%, 5/15/50 | 753000 | 719585 |
|  Morgan Stanley Capital I Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-UBS8 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.844%, 12/15/48 IO(l) | 512726 | 287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-UB11 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.564%, 8/15/49 IO(l) | 690007 | 4513 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-L7 XD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.035%, 10/15/54 IO(l)§ | 11180000 | 539386 |
|  NJ Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-GSP A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.697%, 1/6/29(l)§ | 500000 | 523981 |
|  SG Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C5 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.975%, 10/10/48 IO(l) | 433344 | 3164 |
|  SLG Office Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-OVA E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.851%, 7/15/41§ | 380000 | 321867 |
|  UBS Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C6 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.154%, 12/15/50(l) | 343000 | 319935 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C7 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.727%, 12/15/50(l) | 500000 | 469327 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C13 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.069%, 10/15/51 | 435450 | 430013 |
|  VEGAS Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-TI A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.518%, 11/10/39§ | 181000 | 183716 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Velocity Commercial Capital Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.940%, 3/25/49(l)§ | $300068 | $283609 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1 M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.010%, 3/25/49(l)§ | 159392 | 146542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1 M3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.120%, 3/25/49(l)§ | 131113 | 115555 |
|  Wells Fargo Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C31 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.776%, 11/15/48(l) | 105000 | 102935 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-P2 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.974%, 12/15/48 IO(l) | 259432 | 163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-NXS6 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.684%, 11/15/49 IO(l) | 669143 | 4970 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-RC1 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.536%, 1/15/60 IO(l) | 702117 | 10038 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C50 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.345%, 5/15/52 | 412000 | 361198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-C58 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.704%, 7/15/53 | 550000 | 456085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C4 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.673%, 5/15/58 | 451000 | 472264 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C5 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.918%, 7/15/58 | 465000 | 482678 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C6 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.830%, 10/15/58(l) | 472000 | 470018 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Mortgage-Backed Securities** |  | 28061520 |
|  **Corporate Bonds (22.4%)** |  |  |
|  **Communication Services (1.2%)** |  |  |
|  ***Diversified Telecommunication Services (0.5%)*** |  |  |
|  AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 2/15/30 | 500000 | 500751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/15/53 | 825000 | 567253 |
|  Bell Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.39%), 6.875%, 9/15/55(k) | 179000 | 185683 |
|  CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 5/1/27§ | 100000 | 98947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 3/1/30§ | 140000 | 134172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/1/32§ | 25000 | 23070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/15/34(x)§ | 115000 | 99199 |
|  Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/1/30§ | 70000 | 63907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 6/30/33§ | 185000 | 188374 |
|  TELUS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.71%), 7.000%, 10/15/55(k)(x) | 294000 | 309560 |
|  Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.401%, 7/2/37§ | 475000 | 482505 |
|  Windstream Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 10/1/31§ | 55000 | 56913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 10/15/33§ | 45000 | 45001 |
|  |  | 2755335 |
|  ***Entertainment (0.1%)*** |  |  |
|  Netflix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 8/15/54 | 218000 | 219272 |
|  Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.054%, 3/15/29 | 80000 | 77050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.279%, 3/15/32(x) | 35000 | 32069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 3/15/42 | 55000 | 43862 |
|  |  | 372253 |
|  ***Interactive Media & Services (0.1%)*** |  |  |
|  Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 8/15/52 | 320000 | 273825 |
|  ***Media (0.3%)*** |  |  |
|  Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 6/1/29§ | 70000 | 67987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 2/15/31§ | 135000 | 139705 |
|  Directv Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 8/15/27§ | 87000 | 86883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 2/1/30§ | 115000 | 113347 |
|  DISH DBS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/1/28§ | 100000 | 96000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 6/1/29 | 65000 | 55575 |
|  EchoStar Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.750%, 11/30/29 | 80000 | 87938 |
|  Gray Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 7/15/32§ | 95000 | 97019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 8/15/33§ | 95000 | 93931 |
|  Lamar Media Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 11/1/33§ | 110000 | 109313 |
|  McGraw-Hill Education, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 8/1/28§ | 105000 | 104684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 9/1/31§ | 40000 | 41555 |
|  Sirius XM Radio LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 7/1/29§ | 105000 | 105035 |
|  Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 6/30/30(x)§ | 100000 | 100625 |
|  Videotron Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 1/15/35§ | 283000 | 287664 |
|  |  | 1587261 |
|  ***Wireless Telecommunication Services (0.2%)*** |  |  |
|  Digicel Group Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2B14 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 12/31/30(r)§ | 14052 | 477 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4B14 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 12/31/30(r)§ | 40405 | 196 |
|  Millicom International Cellular SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 1/15/28(m) | 360000 | 357300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 3/25/29(m) | 360000 | 363960 |
|  T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 10/15/52 | 329000 | 224871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/15/55 | 190000 | 176223 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/15/55 | 183000 | 186737 |
|  |  | 1309764 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 6298438 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  **Consumer Discretionary (1.5%)** |  |  |
|  ***Automobile Components (0.1%)*** |  |  |
|  American Axle & Manufacturing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 10/15/32§ | $85000 | $84823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 10/15/33§ | 40000 | 40300 |
|  Clarios Global LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 2/15/30§ | 190000 | 196559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 9/15/32§ | 225000 | 229966 |
|  Dornoch Debt Merger Sub, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 10/15/29§ | 55000 | 47300 |
|  |  | 598948 |
|  ***Automobiles (0.1%)*** |  |  |
|  Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 1/8/29§ | 559000 | 572616 |
|  Nissan Motor Acceptance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 9/30/30§ | 100000 | 100071 |
|  |  | 672687 |
|  ***Broadline Retail (0.0%)†*** |  |  |
|  Wayfair LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 10/31/29§ | 75000 | 77501 |
|  ***Distributors (0.1%)*** |  |  |
|  Dealer Tire LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 2/1/28§ | 100000 | 99151 |
|  Genuine Parts Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 8/15/29 | 234000 | 238606 |
|  Vamos Europe SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.200%, 1/26/31§ | 200000 | 198310 |
|  |  | 536067 |
|  ***Diversified Consumer Services (0.1%)*** |  |  |
|  Mavis Tire Express Services Topco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 5/15/29(x)§ | 60000 | 59739 |
|  Rentokil Terminix Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/28/30§ | 200000 | 203842 |
|  Wand NewCo 3, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 1/30/32§ | 115000 | 121186 |
|  |  | 384767 |
|  ***Hotels, Restaurants & Leisure (0.7%)*** |  |  |
|  Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/15/32§ | 200000 | 197000 |
|  Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 5/1/29§ | 100000 | 100000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 8/1/32§ | 190000 | 193274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 2/15/33§ | 99000 | 101475 |
|  Expedia Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 2/15/28 | 303000 | 300205 |
|  Fertitta Entertainment LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 1/15/30§ | 60000 | 56175 |
|  Full House Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 2/15/28§ | 80000 | 73630 |
|  Life Time, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/15/31§ | 200000 | 203060 |
|  Light & Wonder International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/1/33§ | 125000 | 125213 |
|  Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/15/31 | 294000 | 292873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 5/15/34 | 283000 | 290273 |
|  McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 3/1/47 | 325000 | 280333 |
|  NCL Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 1/15/31§ | 55000 | 54983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 9/15/33§ | 55000 | 55312 |
|  Rivers Enterprise Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 2/1/33§ | 285000 | 289848 |
|  Rivers Enterprise Lender LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/15/30§ | 50000 | 50234 |
|  Royal Caribbean Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 7/15/27§ | 274000 | 276434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 1/15/36 | 128000 | 128468 |
|  Sabre GLBL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 6/1/27§ | 26000 | 26374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.750%, 11/15/29§ | 101000 | 97844 |
|  Six Flags Entertainment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 5/15/31(x)§ | 100000 | 99875 |
|  Viking Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/15/33§ | 185000 | 185231 |
|  Voyager Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 7/1/32§ | 95000 | 100463 |
|  |  | 3578577 |
|  ***Household Durables (0.1%)*** |  |  |
|  Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 5/15/30(x) | 60000 | 59475 |
|  Whirlpool Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 6/15/33 | 95000 | 94732 |
|  |  | 154207 |
|  ***Specialty Retail (0.3%)*** |  |  |
|  AutoZone, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 6/15/30 | 274000 | 282775 |
|  Cougar JV Subsidiary LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 5/15/32§ | 100000 | 106375 |
|  InRetail Consumer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 3/22/28(m) | 600000 | 582960 |
|  Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 4/15/53 | 174000 | 172465 |
|  Michaels Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 5/1/28§ | 50000 | 46125 |
|  O'Reilly Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/19/34 | 152000 | 153208 |
|  Staples, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.750%, 9/1/29§ | 100000 | 99000 |
|  Victra Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 9/15/29(x)§ | 265000 | 278642 |
|  |  | 1721550 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 7724304 |
|  **Consumer Staples (0.9%)** |  |  |
|  ***Beverages (0.1%)*** |  |  |
|  Diageo Investment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 8/15/30 | 235000 | 243166 |
|  Keurig Dr Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 10 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/15/31 | 288000 | 294323 |
|  |  | 537489 |
|  ***Consumer Staples Distribution & Retail (0.3%)*** |  |  |
|  Cencosud SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 7/17/27(m) | 600000 | 598500 |
|  Kroger Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 9/15/64 | 309000 | 299902 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  United Natural Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/15/28§ | $415000 | $413763 |
|  US Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 4/15/33§ | 260000 | 261617 |
|  |  | 1573782 |
|  ***Food Products (0.3%)*** |  |  |
|  Bunge Ltd. Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 9/17/34 | 349000 | 341588 |
|  Campbell's Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 3/21/34 | 149000 | 152520 |
|  Flowers Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/15/35 | 299000 | 304222 |
|  JBS USA Holding Lux Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/1/31 | 234000 | 220887 |
|  Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 5/1/55§ | 308000 | 310951 |
|  Minerva Luxembourg SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 9/13/33§ | 200000 | 219500 |
|  Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 3/1/33§ | 150000 | 151547 |
|  |  | 1701215 |
|  ***Tobacco (0.2%)*** |  |  |
|  BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 8/15/35 | 292000 | 302731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.540%, 8/15/47 | 257000 | 214135 |
|  Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 2/15/33 | 285000 | 297125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/13/34 | 263000 | 271305 |
|  |  | 1085296 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 4897782 |
|  **Energy (2.5%)** |  |  |
|  ***Energy Equipment & Services (0.3%)*** |  |  |
|  Archrock Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 9/1/32(x)§ | 190000 | 194750 |
|  Guara Norte Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.198%, 6/15/34(m) | 153658 | 149586 |
|  Kodiak Gas Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 2/15/29§ | 190000 | 196887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/1/33(x)§ | 55000 | 55990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/1/35§ | 55000 | 56502 |
|  Nabors Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 1/31/30§ | 75000 | 78307 |
|  Transocean International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 2/1/27§ | 31000 | 31000 |
|  WBI Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/15/33§ | 175000 | 174563 |
|  Weatherford International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 4/30/30§ | 60000 | 61275 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/15/33§ | 195000 | 195185 |
|  |  | 1194045 |
|  ***Oil, Gas & Consumable Fuels (2.2%)*** |  |  |
|  Acu Petroleo Luxembourg Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 1/13/32(m) | 221049 | 224917 |
|  Adani Renewable Energy RJ Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/39(m) | 167000 | 142785 |
|  BPRL International Singapore Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 1/18/27(m) | 500000 | 499715 |
|  Buckeye Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 7/1/29§ | 95000 | 98442 |
|  Canacol Energy Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/24/28(m) | 400000 | 136632 |
|  Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/1/31 | 303000 | 291968 |
|  Cheniere Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/28 | 288000 | 287203 |
|  Chord Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/1/30§ | 75000 | 74455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 3/15/33§ | 150000 | 151896 |
|  Civitas Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 7/1/28§ | 80000 | 82931 |
|  CNX Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1/15/29(x)§ | 100000 | 99794 |
|  Colonial Enterprises, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.627%, 11/15/35§ | 179000 | 180783 |
|  Cosan Overseas Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 11/5/25(m)(y) | 500000 | 504000 |
|  DT Midstream, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 6/15/29§ | 157000 | 152968 |
|  Eastern Energy Gas Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 10/15/54 | 309000 | 303284 |
|  Ecopetrol SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/2/31 | 150000 | 134445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 5/28/45(x) | 100000 | 76480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/2/51(x) | 700000 | 519155 |
|  Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 2/16/55 | 286000 | 282086 |
|  Expand Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 4/15/29§ | 86000 | 86875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/1/32 | 151000 | 148380 |
|  Fermaca Enterprises S de RL de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 3/30/38(m) | 383541 | 384895 |
|  Florida Gas Transmission Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 7/15/35§ | 126000 | 130602 |
|  Galaxy Pipeline Assets Bidco Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.940%, 9/30/40(m) | 176648 | 149842 |
|  GNL Quintero SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.634%, 7/31/29(m) | 376640 | 376691 |
|  Gulfport Energy Operating Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 9/1/29§ | 190000 | 194571 |
|  Gulfstream Natural Gas System LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 7/23/35§ | 177000 | 181124 |
|  Harvest Midstream I LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 5/15/32§ | 180000 | 184336 |
|  Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 3/1/28§ | 153000 | 155558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/15/30§ | 157000 | 157966 |
|  Hilcorp Energy I LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 2/15/35(x)§ | 85000 | 83005 |
|  Kinder Morgan Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 1/15/38 | 135000 | 151327 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Kinetik Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 6/15/30§ | $148000 | $148878 |
|  Matador Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 4/15/32§ | 100000 | 100758 |
|  NGL Energy Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 2/15/29§ | 50000 | 51250 |
|  NGPL PipeCo LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 7/15/31§ | 341000 | 308585 |
|  ONGC Videsh Vankorneft Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 7/27/26(m) | 800000 | 795200 |
|  Permian Resources Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 2/1/33(x)§ | 149000 | 151779 |
|  Pertamina Persero PT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.400%, 2/9/26(m) | 600000 | 592632 |
|  Peru LNG Srl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 3/22/30(m) | 300040 | 287513 |
|  Petrobras Global Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 9/10/30 | 300000 | 296502 |
|  Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 9/21/47 | 100000 | 82740 |
|  Raizen Fuels Finance SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 1/17/35(m) | 400000 | 366000 |
|  Reliance Industries Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.667%, 11/30/27(m) | 250000 | 247283 |
|  SM Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 8/1/32§ | 105000 | 105000 |
|  Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/15/27 | 90000 | 89817 |
|  Tallgrass Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 2/15/29§ | 95000 | 97732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 3/15/34§ | 55000 | 54502 |
|  Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/15/35 | 65000 | 66090 |
|  TransCanada PipeLines Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 3/1/34 | 500000 | 487361 |
|  Ultrapar International SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/6/26(m) | 200000 | 199438 |
|  Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 6/1/28§ | 55000 | 56925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 6/1/31§ | 65000 | 68172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.875%, 2/1/32(x)§ | 45000 | 48811 |
|  Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 5/1/33§ | 35000 | 38642 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 1/15/34§ | 110000 | 115641 |
|  Viper Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 8/1/30 | 105000 | 105735 |
|  Vital Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 4/15/32§ | 70000 | 67844 |
|  |  | 11659941 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 12853986 |
|  **Financials (3.8%)** |  |  |
|  ***Banks (1.8%)*** |  |  |
|  Banco Continental SAECA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 12/10/25(m) | 500000 | 497295 |
|  Banco Industrial SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.44%), 4.875%, 1/29/31(k)(m) | 500000 | 498000 |
|  Banco Nacional de Comercio Exterior SNC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 5/7/30§ | 200000 | 207142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 5/7/30(m) | 500000 | 517855 |
|  Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.68%), 6.625%, 5/1/30(k)(y) | 158000 | 164740 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.21%), 2.572%, 10/20/32(k) | 243000 | 217722 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.65%), 5.468%, 1/23/35(k) | 234000 | 243754 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.70%), 5.744%, 2/12/36(k) | 258000 | 268267 |
|  Barclays plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.83%), 5.860%, 8/11/46(k) | 301000 | 308704 |
|  CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.26%), 6.037%, 6/15/35(k)§ | 306000 | 325131 |
|  Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.11%), 5.245%, 1/13/31(k) | 298000 | 307390 |
|  Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.28%), 3.070%, 2/24/28(k) | 121000 | 119161 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.46%), 4.952%, 5/7/31(k) | 251000 | 255386 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.17%), 4.503%, 9/11/31(k) | 178000 | 177992 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.66%), 6.174%, 5/25/34(k) | 145000 | 153962 |
|  Series GG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.89%), 6.875%, 8/15/30(k)(y) | 152000 | 156560 |
|  Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.36%), 4.818%, 9/25/33(k)§ | 305000 | 303348 |
|  Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.87%), 5.709%, 2/2/35(k) | 146000 | 152011 |
|  Intercorp Financial Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/19/27(m) | 300000 | 297000 |
|  JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.01%), 5.140%, 1/24/31(k) | 257000 | 265510 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.44%), 5.103%, 4/22/31(k)(x) | 277000 | 285978 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.46%), 5.294%, 7/22/35(k) | 549000 | 567242 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.64%), 5.576%, 7/23/36(k) | $190000 | $197085 |
|  Lloyds Banking Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.60%), 6.068%, 6/13/36(k) | 351000 | 368906 |
|  NatWest Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.05%), 5.115%, 5/23/31(k) | 348000 | 356861 |
|  PNC Financial Services Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), 5.373%, 7/21/36(k) | 99000 | 101758 |
|  Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.61%), 5.473%, 3/20/29(k) | 192000 | 195687 |
|  Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.73%), 5.439%, 10/3/36(k)§ | 308000 | 307402 |
|  Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.45%), 7.161%, 10/30/29(k) | 128000 | 138646 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.57%), 5.153%, 8/5/32(k) | 287000 | 295088 |
|  Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.50%), 5.150%, 4/23/31(k) | 575000 | 592754 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.06%), 6.491%, 10/23/34(k) | 418000 | 463706 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.34%), 4.892%, 9/15/36(k) | 126000 | 125583 |
|  |  | 9433626 |
|  ***Capital Markets (0.4%)*** |  |  |
|  Bank of New York Mellon Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.23%), 5.060%, 7/22/32(k) | 262000 | 269911 |
|  Brookfield Asset Management Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.077%, 9/15/55 | 248000 | 256460 |
|  Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.46%), 6.850%, 2/10/30(k)(y) | 140000 | 145250 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.55%), 5.330%, 7/23/35(k) | 282000 | 290043 |
|  Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.43%), 5.948%, 1/19/38(k) | 148000 | 154376 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.80%), 5.942%, 2/7/39(k) | 277000 | 288811 |
|  SURA Asset Management SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 5/13/32§ | 200000 | 213500 |
|  UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.34%), 5.010%, 3/23/37(k)§ | 306000 | 304434 |
|  |  | 1922785 |
|  ***Consumer Finance (0.6%)*** |  |  |
|  AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 1/19/29 | 225000 | 230340 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.72%), 6.950%, 3/10/55(k) | 310000 | 322853 |
|  Aircastle Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/15/30§ | 284000 | 289438 |
|  American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.44%), 5.016%, 4/25/31(k) | 612000 | 629285 |
|  Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/1/29§ | 258000 | 266661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/15/29§ | 309000 | 321067 |
|  Azorra Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 1/15/31§ | 190000 | 197837 |
|  GGAM Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 4/15/29§ | 190000 | 197036 |
|  Macquarie Airfinance Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/27/28§ | 152000 | 154436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 3/26/29§ | 142000 | 149242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/17/30§ | 39000 | 39472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 3/26/31§ | 31000 | 33180 |
|  OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 5/15/31(x) | 95000 | 99156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 9/15/32 | 65000 | 67119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 3/15/33 | 140000 | 140350 |
|  |  | 3137472 |
|  ***Financial Services (0.3%)*** |  |  |
|  Block Financial LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 9/15/32 | 322000 | 323864 |
|  Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 3/15/34 | 270000 | 278911 |
|  Freedom Mortgage Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 4/1/32§ | 45000 | 47129 |
|  Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 8/15/27 | 297000 | 300490 |
|  Interoceanica IV Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 11/30/25(m) | 10463 | 10355 |
|  Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.65%), 5.537%, 7/14/36(k)§ | 342000 | 350930 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  PennyMac Financial Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 12/15/29§ | $110000 | $116630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 5/15/32§ | 70000 | 72460 |
|  Rocket Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 8/1/33§ | 95000 | 98206 |
|  |  | 1598975 |
|  ***Insurance (0.7%)*** |  |  |
|  200 Park Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.740%, 2/15/55§ | 347000 | 350800 |
|  Acrisure LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 7/1/32§ | 160000 | 164648 |
|  Alliant Holdings Intermediate LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/1/31§ | 110000 | 112475 |
|  American International Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 5/7/35 | 118000 | 122676 |
|  American National Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/1/29 | 123000 | 127322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 7/15/35 | 384000 | 391899 |
|  APH Somerset Investor 2 LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 11/1/29§ | 80000 | 83490 |
|  Arthur J Gallagher & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 12/15/29 | 174000 | 177605 |
|  Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.349%, 7/9/27§ | 241000 | 245377 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.721%, 10/8/29§ | 153000 | 154117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.033%, 7/17/30§ | 167000 | 169422 |
|  Athene Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.61%), 6.625%, 10/15/54(k) | 225000 | 226969 |
|  Brown & Brown, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 6/23/55 | 123000 | 129045 |
|  Guardian Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.798%, 4/28/30§ | 247000 | 251949 |
|  HUB International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 6/15/30§ | 80000 | 83403 |
|  MetLife, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series G |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.08%), 6.350%, 3/15/55(k) | 254000 | 269049 |
|  Panther Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 6/1/31§ | 150000 | 156000 |
|  Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/14/35 | 189000 | 194262 |
|  Travelers Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 7/24/55 | 122000 | 126540 |
|  |  | 3537048 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.0%)†*** |  |  |
|  Starwood Property Trust, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/15/28§ | 165000 | 164794 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 19794700 |
|  **Health Care (1.1%)** |  |  |
|  ***Biotechnology (0.2%)*** |  |  |
|  AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 5/14/45 | 303000 | 278028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/15/64 | 170000 | 170030 |
|  Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/2/63 | 407000 | 404374 |
|  Biogen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 1/15/31 | 282000 | 289876 |
|  Gilead Sciences, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 10/15/53 | 156000 | 156883 |
|  |  | 1299191 |
|  ***Health Care Equipment & Supplies (0.2%)*** |  |  |
|  Bausch + Lomb Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 10/1/28§ | 240000 | 250191 |
|  GE HealthCare Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 1/15/31 | 295000 | 299284 |
|  Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/1/29§ | 160000 | 158600 |
|  Zimmer Biomet Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 9/15/34 | 291000 | 297631 |
|  |  | 1005706 |
|  ***Health Care Providers & Services (0.3%)*** |  |  |
|  Cardinal Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 3/15/43 | 285000 | 248471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/44 | 41000 | 34993 |
|  Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1/15/29(x)§ | 110000 | 106700 |
|  Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 5/15/52 | 82000 | 68257 |
|  Laboratory Corp. of America Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 10/1/34 | 697000 | 690179 |
|  LifePoint Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 6/1/32(x)§ | 135000 | 141750 |
|  Quest Diagnostics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/34 | 283000 | 285720 |
|  Radiology Partners, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 7/15/32§ | 175000 | 180578 |
|  |  | 1756648 |
|  ***Health Care Technology (0.0%)†*** |  |  |
|  IQVIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 2/1/29 | 202000 | 212446 |
|  ***Life Sciences Tools & Services (0.1%)*** |  |  |
|  Agilent Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 9/9/34 | 294000 | 292384 |
|  ***Pharmaceuticals (0.3%)*** |  |  |
|  Bausch Health Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 1/30/30§ | 50000 | 35125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 14.000%, 10/15/30§ | 5000 | 5012 |
|  Merck & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 9/15/55 | 372000 | 379983 |
|  Royalty Pharma plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 9/25/55 | 184000 | 184979 |
|  Takeda US Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 7/7/55 | 299000 | 306482 |
|  Zoetis, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 8/17/28 | 289000 | 289670 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value (Note<br>1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 2/1/43(x) | $121000 | $111088 |
|  |  | 1312339 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 5878714 |
|  **Industrials (3.6%)** |  |  |
|  ***Aerospace & Defense (0.3%)*** |  |  |
|  AAR Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 3/15/29§ | 115000 | 118341 |
|  General Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 1/29/36 | 122000 | 123164 |
|  Goat Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 2/1/32§ | 110000 | 112891 |
|  Hexcel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 2/26/35 | 173000 | 179556 |
|  Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/15/35 | 287000 | 291456 |
|  Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.030%, 10/15/47 | 184000 | 150265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 6/1/54 | 295000 | 279250 |
|  TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 5/31/33§ | 185000 | 187298 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 1/31/34§ | 15000 | 15396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 1/31/34§ | 20000 | 20675 |
|  |  | 1478292 |
|  ***Building Products (0.4%)*** |  |  |
|  Amrize Finance US LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 4/7/30§ | 129000 | 131624 |
|  Builders FirstSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 3/1/34§ | 235000 | 242050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 5/15/35§ | 100000 | 104433 |
|  Carlisle Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 9/15/40 | 123000 | 124523 |
|  Cornerstone Building Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 8/15/29§ | 105000 | 101588 |
|  CRH SMW Finance DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 1/9/30 | 370000 | 380445 |
|  EMRLD Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 12/15/30§ | 185000 | 190087 |
|  Griffon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/1/28 | 235000 | 234770 |
|  Miter Brands Acquisition Holdco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 4/1/32§ | 190000 | 194731 |
|  Owens Corning |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 6/15/34 | 140000 | 147219 |
|  Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 3/1/33§ | 165000 | 171188 |
|  Standard Building Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 8/15/32§ | 95000 | 97477 |
|  |  | 2120135 |
|  ***Commercial Services & Supplies (0.5%)*** |  |  |
|  Allied Universal Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 2/15/31§ | 280000 | 293300 |
|  Element Fleet Management Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.319%, 12/4/28§ | 273000 | 288862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.037%, 3/25/30§ | 280000 | 285165 |
|  Garda World Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 8/1/32§ | 280000 | 290150 |
|  Madison IAQ LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 6/30/29(x)§ | 305000 | 301187 |
|  Republic Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/15/35 | 287000 | 295670 |
|  Rollins, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/24/35 | 128000 | 130082 |
|  Veralto Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 9/18/28 | 104000 | 107127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 9/18/33 | 151000 | 157651 |
|  Veritiv Operating Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 11/30/30(x)§ | 95000 | 102244 |
|  Waste Connections, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 9/1/35 | 243000 | 250257 |
|  |  | 2501695 |
|  ***Construction & Engineering (0.2%)*** |  |  |
|  Bioceanico Sovereign Certificate Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon),<br> 6/5/34(m) | 517951 | 420985 |
|  MasTec, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 6/15/29 | 285000 | 297995 |
|  Quanta Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 8/9/34 | 254000 | 260071 |
|  |  | 979051 |
|  ***Electrical Equipment (0.1%)*** |  |  |
|  Molex Electronic Technologies LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 4/30/32§ | 321000 | 327102 |
|  Regal Rexnord Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 2/15/26 | 116000 | 116521 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 4/15/28 | 172000 | 177808 |
|  Vertiv Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/28§ | 153000 | 149175 |
|  |  | 770606 |
|  Ground Transportation (0.9%) |  |  |
|  Ashtead Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 5/30/33§ | 243000 | 250186 |
|  Burlington Northern Santa Fe LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 4/15/54 | 409000 | 391955 |
|  CSX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 11/1/46 | 717000 | 568619 |
|  Dcli Bidco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 11/15/29§ | 140000 | 145566 |
|  Genesee & Wyoming, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 4/15/32§ | 195000 | 198155 |
|  Lima Metro Line 2 Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 7/5/34(m) | 311594 | 322110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 4/5/36(m) | 350567 | 337526 |
|  Movida Europe SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.850%, 4/11/29(m) | 400000 | 384692 |
|  Penske Truck Leasing Co. LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/1/30§ | 300000 | 309309 |
|  Simpar Europe SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 1/26/31(m) | 200000 | 165970 |
|  Star Leasing Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 2/15/30§ | 60000 | 58255 |
|  Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/15/29§ | 321000 | 320724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 9/15/34 | 296000 | 296292 |
|  Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 3/1/29 | 500000 | 494403 |
|  Watco Cos. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 8/1/32§ | 95000 | 98186 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  XPO, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 6/1/31§ | $200000 | $208620 |
|  |  | 4550568 |
|  ***Machinery (0.1%)*** |  |  |
|  Husky Injection Molding Systems Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 2/15/29§ | 280000 | 292600 |
|  Westinghouse Air Brake Technologies Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 5/29/30 | 278000 | 283814 |
|  |  | 576414 |
|  ***Marine Transportation (0.1%)*** |  |  |
|  MV24 Capital BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.748%, 6/1/34(m) | 439392 | 436668 |
|  Yinson Bergenia Production BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.498%, 1/31/45§ | 200000 | 214450 |
|  |  | 651118 |
|  ***Passenger Airlines (0.0%)†*** |  |  |
|  American Airlines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 5/15/29(x)§ | 95000 | 99097 |
|  JetBlue Airways Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.875%, 9/20/31§ | 35000 | 35525 |
|  |  | 134622 |
|  ***Professional Services (0.2%)*** |  |  |
|  Amentum Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 8/1/32§ | 80000 | 83000 |
|  Jacobs Engineering Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 3/1/33 | 207000 | 218542 |
|  Paychex, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 4/15/32 | 548000 | 568008 |
|  Verisk Analytics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/5/34 | 289000 | 297398 |
|  VT Topco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 8/15/30§ | 80000 | 81400 |
|  |  | 1248348 |
|  ***Trading Companies & Distributors (0.2%)*** |  |  |
|  Aviation Capital Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 7/15/29§ | 218000 | 223166 |
|  FTAI Aviation Investors LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 4/15/33§ | 50000 | 50286 |
|  GATX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/15/35 | 174000 | 179218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/15/44 | 130000 | 123131 |
|  Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 6/15/30§ | 100000 | 103864 |
|  QXO Building Products, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 4/30/32§ | 70000 | 72537 |
|  WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 3/15/33§ | 25000 | 25885 |
|  |  | 778087 |
|  ***Transportation Infrastructure (0.6%)*** |  |  |
|  Adani International Container Terminal Pvt Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/16/31(m) | 480000 | 440179 |
|  Adani International Container Terminal Pvt. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/16/31§ | 240000 | 220090 |
|  Adani Ports & Special Economic Zone Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/30/27§ | 250000 | 245312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 7/3/29(m) | 200000 | 195000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 2/2/31(m) | 200000 | 178000 |
|  Fideicomiso PA Pacifico Tres |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 1/15/35(m) | 160900 | 168823 |
|  JSW Infrastructure Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 1/21/29(m) | 400000 | 401500 |
|  Prumo Participacoes e Investimentos S/A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 12/31/31(m) | 675433 | 688942 |
|  Rutas 2 & 7 Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9/30/36(m) | 843333 | 636700 |
|  Seaspan Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/1/29§ | 150000 | 142426 |
|  |  | 3316972 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 19105908 |
|  **Information Technology (1.6%)** |  |  |
|  ***Communications Equipment (0.1%)*** |  |  |
|  CommScope LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 12/15/31§ | 80000 | 82800 |
|  Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 8/15/32 | 241000 | 248049 |
|  |  | 330849 |
|  ***Electronic Equipment, Instruments & Components (0.0%)†*** |  |  |
|  Arrow Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 8/21/29 | 283000 | 289662 |
|  ***IT Services (0.2%)*** |  |  |
|  CoreWeave, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 6/1/30§ | 60000 | 61950 |
|  Kyndryl Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 10/15/41(x) | 538000 | 433868 |
|  VeriSign, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/1/32 | 361000 | 370500 |
|  Wipro IT Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 6/23/26(m) | 200000 | 195878 |
|  |  | 1062196 |
|  ***Semiconductors & Semiconductor Equipment (0.8%)*** |  |  |
|  Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/15/41§ | 722000 | 592755 |
|  Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 1/25/32§ | 500000 | 534471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 1/25/34§ | 250000 | 260396 |
|  Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 9/15/33 | 538000 | 576906 |
|  NXP BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 8/19/32 | 243000 | 243354 |
|  Qorvo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 4/1/31§ | 174000 | 159728 |
|  Renesas Electronics Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.170%, 11/25/26§ | 660000 | 643294 |
|  SK Hynix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 9/11/28§ | 969000 | 969097 |
|  |  | 3980001 |
|  ***Software (0.3%)*** |  |  |
|  AppLovin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/1/31 | 147000 | 151833 |
|  AthenaHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 2/15/30§ | 105000 | 103987 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  Atlassian Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 5/15/29 | $241000 | $247800 |
|  Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 8/15/33§ | 70000 | 71268 |
|  Ellucian Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/1/29§ | 95000 | 96518 |
|  Intuit, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/15/53 | 253000 | 254352 |
|  Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 9/26/45 | 239000 | 238493 |
|  Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 9/15/28 | 91000 | 91342 |
|  UKG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 2/1/31§ | 95000 | 97969 |
|  Workday, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 4/1/29 | 270000 | 265734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 4/1/32 | 161000 | 153650 |
|  |  | 1772946 |
|  ***Technology Hardware, Storage & Peripherals (0.2%)*** |  |  |
|  Dell, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 4/15/38 | 138000 | 149779 |
|  Hewlett Packard Enterprise Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/34 | 584000 | 579771 |
|  NetApp, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/17/32 | 142000 | 147562 |
|  |  | 877112 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 8312766 |
|  **Materials (1.3%)** |  |  |
|  ***Chemicals (0.2%)*** |  |  |
|  Braskem Idesa SAPI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.990%, 2/20/32(m) | 200000 | 118000 |
|  Braskem Netherlands Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/31/30(m) | 200000 | 75640 |
|  Celanese US Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 4/15/30 | 45000 | 45292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 4/15/33(x) | 45000 | 44775 |
|  EQUATE Petrochemical Co. KSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/3/26(m) | 200000 | 199100 |
|  OCP SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 5/2/34(m) | 400000 | 435500 |
|  Olin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 4/1/33§ | 70000 | 70356 |
|  Qnity Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 8/15/33§ | 80000 | 81685 |
|  Solstice Advanced Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 9/30/33§ | 20000 | 20074 |
|  Unigel Luxembourg SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 13.500%, 12/31/27 PIK(m) | 31056 | 23764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 13.500%, 12/31/27 PIK§ | 22114 | 16921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 12/31/28 PIK(m) | 107889 | 16147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 12/31/28 PIK§ | 25089 | 3755 |
|  Unigel Netherlands Holding Corp. BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 15.000%, 12/31/44 PIK(m) | 131402 |  |
|  WR Grace Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 8/15/29§ | 105000 | 97475 |
|  |  | 1248484 |
|  ***Containers & Packaging (0.3%)*** |  |  |
|  Avery Dennison Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/15/33 | 139000 | 146917 |
|  CCL Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 6/1/30(x)§ | 306000 | 287805 |
|  Clydesdale Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 4/15/32§ | 190000 | 194761 |
|  Sealed Air Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 2/15/31§ | 145000 | 152122 |
|  Smurfit Kappa Treasury ULC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 1/15/30 | 335000 | 344916 |
|  Sonoco Products Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 9/1/29 | 153000 | 153938 |
|  Trident TPI Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 12.750%, 12/31/28§ | 110000 | 117268 |
|  |  | 1397727 |
|  ***Metals & Mining (0.8%)*** |  |  |
|  AngloGold Ashanti Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 11/1/28 | 500000 | 485000 |
|  Aris Mining Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 10/31/29§ | 200000 | 206750 |
|  CAP SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 4/27/31§ | 400000 | 326812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 4/27/31(m) | 300000 | 245109 |
|  Corp. Nacional del Cobre de Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/30/29(m) | 300000 | 283050 |
|  CSN Resources SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 4/8/32(m) | 600000 | 510000 |
|  Freeport-McMoRan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/1/28(x) | 300000 | 299225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 9/1/29(x) | 200000 | 202630 |
|  Gold Fields Orogen Holdings BVI Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 5/15/29(m) | 400000 | 419750 |
|  Minsur SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/28/31(m) | 400000 | 383380 |
|  Newmont Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 3/15/34 | 282000 | 293473 |
|  Novelis Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 1/30/30(x)§ | 70000 | 72395 |
|  Rio Tinto Finance USA plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/14/55 | 175000 | 179816 |
|  Vale Overseas Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 6/28/54 | 114000 | 116882 |
|  |  | 4024272 |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Suzano Netherlands BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1/15/36 | 174000 | 174505 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 6844988 |
|  **Real Estate (1.2%)** |  |  |
|  ***Diversified REITs (0.2%)*** |  |  |
|  Digital Realty Trust LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 8/15/27 | 750000 | 744086 |
|  Uniti Group LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 6/15/32(x)§ | 75000 | 71633 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  VICI Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/1/29(x)§ | $295000 | $291848 |
|  |  | 1107567 |
|  ***Health Care REITs (0.1%)*** |  |  |
|  Omega Healthcare Investors, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1/15/28 | 154000 | 155126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 4/15/33(x) | 176000 | 155059 |
|  Sabra Health Care LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 12/1/31 | 145000 | 131836 |
|  |  | 442021 |
|  ***Hotel & Resort REITs (0.1%)*** |  |  |
|  Park Intermediate Holdings LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 2/1/30§ | 275000 | 283162 |
|  RHP Hotel Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 6/15/33§ | 160000 | 164670 |
|  |  | 447832 |
|  ***Industrial REITs (0.1%)*** |  |  |
|  First Industrial LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 1/15/31 | 367000 | 375826 |
|  Lineage OP LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 7/15/30§ | 284000 | 287272 |
|  |  | 663098 |
|  ***Real Estate Management & Development (0.1%)*** |  |  |
|  Anywhere Real Estate Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 4/15/30(x)§ | 85000 | 86010 |
|  InRetail Shopping Malls |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 4/3/28(m) | 400000 | 399672 |
|  |  | 485682 |
|  ***Residential REITs (0.2%)*** |  |  |
|  American Homes 4 Rent LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/1/34 | 411000 | 424355 |
|  Essential Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 12/1/35 | 166000 | 166569 |
|  Sun Communities Operating LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 7/15/31 | 338000 | 305932 |
|  |  | 896856 |
|  ***Retail REITs (0.0%)†*** |  |  |
|  Phillips Edison Grocery Center Operating Partnership I LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 7/15/34 | 227000 | 236053 |
|  ***Specialized REITs (0.4%)*** |  |  |
|  American Tower Corp. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 10/15/26 | 700000 | 694811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 7/15/33 | 145000 | 151842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 10/15/49 | 105000 | 78344 |
|  Crown Castle, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 6/15/26 | 300000 | 298687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 9/1/27 | 200000 | 197963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 1/15/31 | 200000 | 177889 |
|  Extra Space Storage LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 2/1/34 | 292000 | 300519 |
|  Iron Mountain, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 1/15/33§ | 35000 | 35656 |
|  |  | 1935711 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 6214820 |
|  **Utilities (3.7%)** |  |  |
|  ***Electric Utilities (2.6%)*** |  |  |
|  Adani Electricity Mumbai Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.949%, 2/12/30(m) | 200000 | 188154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.867%, 7/22/31(m) | 200000 | 183973 |
|  Adani Transmission Step- One Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/21/36(m) | 486500 | 439066 |
|  AEP Texas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 5/15/29 | 173000 | 179232 |
|  AES Espana BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 5/4/28§ | 200000 | 194664 |
|  Alliant Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.08%), 5.750%, 4/1/56(k) | 126000 | 126141 |
|  Arizona Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 8/15/55 | 593000 | 605407 |
|  Buffalo Energy Mexico Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 2/15/39§ | 397964 | 428906 |
|  Chile Electricity Lux Mpc II Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.672%, 10/20/35§ | 200000 | 206046 |
|  Chile Electricity Lux MPC Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.010%, 1/20/33(m) | 179000 | 187055 |
|  Chile Electricity PEC SpA |  |  |
|  (Zero Coupon), 1/25/28§ | 636572 | 572119 |
|  Comision Federal de Electricidad |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.450%, 1/24/35§ | 400000 | 406944 |
|  Commonwealth Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 6/1/55 | 286000 | 304449 |
|  Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 8/15/27 | 300000 | 295223 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 8/15/47 | 369000 | 285557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/15/52 | 99000 | 88746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 6/15/54 | 213000 | 214100 |
|  Duquesne Light Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.616%, 8/1/27§ | 345000 | 337778 |
|  Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 9/30/28§ | 200000 | 199565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 6/26/29§ | 200000 | 204900 |
|  Entergy Arkansas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 6/1/54(x) | 149000 | 152306 |
|  Entergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.67%), 7.125%, 12/1/54(k) | 284000 | 295033 |
|  Evergy Kansas Central, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 3/15/53 | 293000 | 293714 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 4/15/30(x) | $750000 | $741115 |
|  Fenix Power Peru SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.317%, 9/20/27(m) | 328235 | 324825 |
|  Interstate Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 10/1/55 | 153000 | 150186 |
|  ITC Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 6/1/33§ | 250000 | 256709 |
|  JSW Hydro Energy Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 5/18/31§ | 142000 | 134190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 5/18/31(m) | 568000 | 536760 |
|  Kentucky Utilities Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 8/15/55 | 126000 | 128497 |
|  Mexico Generadora de Energia S de rl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/6/32(m) | 548590 | 557318 |
|  Mong Duong Finance Holdings BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 5/7/29(m) | 338801 | 334772 |
|  NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.440%, 1/15/32 | 500000 | 441179 |
|  Niagara Mohawk Power Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.647%, 10/3/30§ | 148000 | 148644 |
|  NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/1/33§ | 110000 | 111359 |
|  Perusahaan Perseroan Persero PT Perusahaan Listrik Negara |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 5/15/27(m) | 600000 | 597600 |
|  Southern Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.07%), 6.375%, 3/15/55(k) | 204000 | 216822 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 4/30/30 | 500000 | 487025 |
|  Tierra Mojada Luxembourg II Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/1/40(m) | 169056 | 165632 |
|  Trans-Allegheny Interstate Line Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/15/31§ | 547000 | 560767 |
|  Transelec SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 1/12/29(m) | 500000 | 489820 |
|  Virginia Electric and Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 8/15/54 | 107000 | 105448 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/15/27 | 300000 | 297644 |
|  Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 10/15/31§ | 120000 | 126750 |
|  |  | 13302140 |
|  ***Gas Utilities (0.0%)†*** |  |  |
|  National Fuel Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 3/15/35 | 121000 | 126170 |
|  Southern Natural Gas Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 8/1/35§ | 77000 | 78226 |
|  |  | 204396 |
|  ***Independent Power and Renewable Electricity Producers (0.3%)*** |  |  |
|  Cometa Energia SA de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 4/24/35(m) | 151600 | 157929 |
|  Emirates Semb Corp. Water & Power Co. PJSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 8/1/35§ | 500000 | 478825 |
|  Empresa Electrica Angamos SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 5/25/29(m) | 69500 | 62688 |
|  FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 1/31/41§ | 198101 | 210423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 1/31/41(m)(x) | 198101 | 210424 |
|  PSEG Power LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 5/15/30§ | 98000 | 100555 |
|  Saavi Energia Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 2/10/35§ | 200000 | 215740 |
|  Southern Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 10/1/35 | 168000 | 165831 |
|  |  | 1602415 |
|  ***Multi-Utilities (0.8%)*** |  |  |
|  Ameren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 2/15/26 | 550000 | 548742 |
|  Black Hills Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1/15/35 | 278000 | 296108 |
|  CMS Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.96%), 6.500%, 6/1/55(k) | 146000 | 150745 |
|  Consumers Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/15/31 | 172000 | 173833 |
|  Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 4/1/30 | 300000 | 288118 |
|  DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 10/1/26 | 300000 | 296045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 6/1/34 | 436000 | 462674 |
|  Empresas Publicas de Medellin ESP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 2/15/31(m) | 400000 | 371000 |
|  NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.490%, 5/15/27 | 500000 | 494858 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 4/1/34 | 285000 | 292738 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.45%), 6.950%, 11/30/54(k) | 148000 | 153920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 4/1/55 | 252000 | 254752 |
|  Sempra |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/1/33 | 500000 | 517110 |
|  |  | 4300643 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 19409594 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  | 117336000 |
|  **Foreign Government Securities (0.8%)** |  |  |
|  Dominican Republic Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 1/25/27(m) | 300000 | 304950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/22/29(m) | 300000 | 306300 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/30/30(m) | $150000 | $146850 |
|  Kingdom of Morocco |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 12/15/27(m) | 400000 | 382688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/15/32(m) | 300000 | 265567 |
|  Republic of Colombia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 5/15/51 | 850000 | 555900 |
|  Republic of Guatemala |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 6/5/27(m) | 500000 | 497500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 2/13/28(m) | 200000 | 199800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 8/10/29(m)(x) | 300000 | 302663 |
|  Republic of Paraguay |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 3/27/27(m) | 543000 | 546530 |
|  United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/22/29 | 300000 | 300900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.338%, 5/4/53 | 500000 | 486000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Foreign Government Securities** |  | 4295648 |
|  Mortgage-Backed Securities (23.8%) |  |  |
|  FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 12/1/28 | 2727000 | 2765023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 1/1/43 | 199299 | 177360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/1/45 | 158742 | 144601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/1/45 | 253181 | 230518 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 4/1/47 | 718629 | 648787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/1/48 | 139925 | 134196 |
|  FHLMC UMBS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 5/1/51 | 1717467 | 1396752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 9/1/51 | 3147771 | 2596362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/52 | 3788136 | 3386323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 4/1/52 | 3706714 | 3185177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/1/52 | 3750652 | 3227622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/1/52 | 1874874 | 1870572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/1/53 | 4482712 | 4494839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5/1/53 | 3495614 | 3560611 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/1/53 | 2669182 | 2689749 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/1/53 | 1152268 | 1175853 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/1/53 | 2587826 | 2694222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/1/54 | 4474099 | 4574966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/1/54 | 640191 | 666511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/1/54 | 4272882 | 4408965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5/1/54 | 2107264 | 2150398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/1/55 | 4474135 | 4440099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/1/55 | 3618443 | 3715364 |
|  FNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 4/1/30 | 2522000 | 2565478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, 6/1/30 | 2499407 | 2564313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.460%, 4/1/32 | 2157590 | 1928937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 4/1/45 | 89649 | 79377 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/1/46 | 210031 | 185636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.225%, 12/1/50 | 3233304 | 2300322 |
|  FNMA UMBS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/43 | 778437 | 709915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/1/44 | 1270280 | 1291914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/1/45 | 3812730 | 3720638 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/1/46 | 467708 | 422154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/1/46 | 1482860 | 1338430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/1/46 | 1015907 | 916959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/1/46 | 736445 | 688035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/1/47 | 1587288 | 1431199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/1/48 | 1912149 | 1725907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/1/50 | 2650170 | 2447804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/1/51 | 6182214 | 5089589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/1/51 | 3902199 | 3494080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 4/1/52 | 7097046 | 6085181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/1/52 | 1492575 | 1491482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/1/52 | 2633834 | 2567291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/1/53 | 2621902 | 2705732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/1/53 | 1330727 | 1324762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/1/54 | 2159171 | 2203366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/1/54 | 2694570 | 2761514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/1/54 | 1647507 | 1704370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 7/1/54 | 1266961 | 1299229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/1/54 | 742377 | 769824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/1/55 | 1373715 | 1389331 |
|  GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/15/42 | 2512835 | 2371370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/20/48 | 3492177 | 3246636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/20/51 | 3259127 | 2793566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/20/51 | 2318459 | 1987271 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 4/20/52 | 2810759 | 2496644 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Mortgage-Backed Securities** |  | 124433126 |
|  **U.S. Treasury Obligations (21.1%)** |  |  |
|  U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 11/15/40 | 57200000 | 37288417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 5/15/50 | 6400000 | 3135037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/15/51 | 10500000 | 5991355 |
|  U.S. Treasury Inflation Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 7/15/27 TIPS | 1584744 | 1573783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 10/15/27 TIPS | 2050215 | 2082846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 1/15/28 TIPS | 1597785 | 1579005 |
|  U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 11/15/30 | 3850000 | 3339328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/34 | 56250000 | 55394550 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 110384321 |
|  **Total Long-Term Debt Securities (96.3%)**<br> *(Cost $516,937,798)* |  | 503806892 |
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Consumer Discretionary (0.0%)** |  |  |
|  ***Diversified Consumer Services (0.0%)*** |  |  |
|  Stichting Administratiekantoor Unigel Creditors (ADR)(r)\* | 355 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  |  |
|  **Materials (0.0%)** |  |  |
|  ***Chemicals (0.0%)*** |  |  |
|  Unigel Luxembourg SA(r)\* | 130 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  |  |
|  **Total Common Stocks (0.0%)**<br> *(Cost $—)* |  |  |
|  INVESTMENT COMPANIES: |  |  |
|  ***Fixed Income (2.0%)*** |  |  |
|  DoubleLine Emerging Markets Local Currency Bond Fund , Class I | 556745 | 5255675 |
|  DoubleLine Global Bond Fund , Class I‡ | 590381 | 5218966 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  **Total Investment Companies (2.0%)<br>(***Cost $11,063,850***)** |  | $10474641 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (1.1%)** |  |  |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 300000 | 300000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 3269795 | 3269795 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 2208197 | 2209080 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 5778875 |
|  **Total Short-Term Investments (1.1%)**<br> *(Cost $5,779,096)* |  | 5778875 |
|  **Total Investments in Securities (99.4%)**<br> *(Cost $533,780,744)* |  | 520060408 |
|  **Other Assets Less Liabilities (0.6%)** | **Other Assets Less Liabilities (0.6%)** | 3253576 |
|  **Net Assets (100%)** |  | $523313984 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

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

---

| | |
|:---|:---|
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At September 30, 2025, the market value of these securities amounted to $131,264,168 or 25.1% of net assets.*  |

---

*(e)* *Step Bond - Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of September 30, 2025. Maturity date disclosed is the ultimate maturity date.* 

*(k)* *Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of September 30, 2025.* 

*(l)* *Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of September 30, 2025.* 

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $24,622,303 or 4.7% of net assets.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(y)* *Securities are perpetual and, thus, do not have a predetermined maturity date. The coupon rate for these securities are fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $3,485,701. This was collateralized by cash of $3,569,795 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*CLO — Collateralized Loan Obligation* 

*FHLMC — Federal Home Loan Mortgage Corp.* 

*FNMA — Federal National Mortgage Association* 

*GNMA — Government National Mortgage Association* 

*IO — Interest Only* 

*PIK — Payment-in Kind Security* 

*REIT — Real Estate Investment Trust* 

*SOFR — Secured Overnight Financing Rate* 

*TIPS — Treasury Inflation Protected Security* 

*UMBS — Uniform Mortgage-Backed Securities* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market<br>Value<br>December 31,<br>2024 ($)** | **Purchases<br>at Cost ($)** | **Proceeds<br>from Sales<br>($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/<br>Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  DoubleLine Floating Rate Fund, Class I |  | 4810711 |  | (4771544) | (549925) | 510758 |  | 53710 |  |
|  DoubleLine Global Bond Fund, Class I | 590381 | 3545203 | 1400001 |  |  | 273762 | 5218966 | 80463 |  |
|  **Total** |  | **8355914** | **1400001** | **(4771544)** | **(549925)** | **784520** | **5218966** | **134173** |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT DOUBLELINE OPPORTUNISTIC BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Asset-Backed Securities** | $— | $85415932 | $— | $85415932 |
|  **Collateralized Mortgage Obligations** |  | 33880345 |  | 33880345 |
|  **Commercial Mortgage-Backed Securities** |  | 28061520 |  | 28061520 |
|  **Common Stocks** |  |  |  |  |
|  Consumer Discretionary |  |  | — (a) | — (a) |
|  Materials |  |  | — (a) | — (a) |
|  **Corporate Bonds** |  |  |  |  |
|  Communication Services |  | 6297765 | 673 | 6298438 |
|  Consumer Discretionary |  | 7724304 |  | 7724304 |
|  Consumer Staples |  | 4897782 |  | 4897782 |
|  Energy |  | 12853986 |  | 12853986 |
|  Financials |  | 19794700 |  | 19794700 |
|  Health Care |  | 5878714 |  | 5878714 |
|  Industrials |  | 19105908 |  | 19105908 |
|  Information Technology |  | 8312766 |  | 8312766 |
|  Materials |  | 6844988 |  | 6844988 |
|  Real Estate |  | 6214820 |  | 6214820 |
|  Utilities |  | 19409594 |  | 19409594 |
|  **Foreign Government Securities** |  | 4295648 |  | 4295648 |
|  **Investment Companies** | 10474641 |  |  | 10474641 |
|  **Mortgage-Backed Securities** |  | 124433126 |  | 124433126 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 5778875 |  |  | 5778875 |
|  **U.S. Treasury Obligations** |  | 110384321 |  | 110384321 |
|  **Total Assets** | $**16253516** | $**503806219** | $**673** | $**520060408** |
|  **Total** | $**16253516** | $**503806219** | $**673** | $**520060408** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $7399714 |
|  Aggregate gross unrealized depreciation | (21808505) |
|  Net unrealized depreciation | $(14408791) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $534469199 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT EQUITY INCOME PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (3.5%)** |  |  |
|  ***Entertainment (1.5%)*** |  |  |
|  Warner Music Group Corp., Class A | 193873 | $6603314 |
|  ***Media (2.0%)*** |  |  |
|  Comcast Corp., Class A | 295473 | 9283762 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 15887076 |
|  **Consumer Discretionary (1.2%)** |  |  |
|  ***Household Durables (1.2%)*** |  |  |
|  Lennar Corp., Class A | 42759 | 5389344 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 5389344 |
|  **Consumer Staples (11.4%)** |  |  |
|  ***Beverages (4.2%)*** |  |  |
|  Coca-Cola Europacific Partners plc | 141206 | 12766435 |
|  Molson Coors Beverage Co., Class B | 144381 | 6533240 |
|  |  | 19299675 |
|  ***Food Products (2.8%)*** |  |  |
|  Kraft Heinz Co. (The) | 267478 | 6965127 |
|  Tyson Foods, Inc., Class A | 111651 | 6062649 |
|  |  | 13027776 |
|  ***Household Products (1.8%)*** |  |  |
|  Procter & Gamble Co. (The) | 52134 | 8010389 |
|  ***Tobacco (2.6%)*** |  |  |
|  Philip Morris International, Inc. | 72180 | 11707596 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 52045436 |
|  **Energy (8.3%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (8.3%)*** |  |  |
|  Chevron Corp. | 91766 | 14250342 |
|  Enbridge, Inc. | 210292 | 10611334 |
|  Phillips 66 | 96742 | 13158847 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 38020523 |
|  **Financials (20.0%)** |  |  |
|  ***Banks (8.8%)*** |  |  |
|  Bank of Nova Scotia (The) | 151613 | 9801781 |
|  JPMorgan Chase & Co. | 58998 | 18609739 |
|  Wells Fargo & Co. | 142160 | 11915851 |
|  |  | 40327371 |
|  ***Capital Markets (2.9%)*** |  |  |
|  Northern Trust Corp. | 99059 | 13333341 |
|  ***Financial Services (2.3%)*** |  |  |
|  Fidelity National Information Services, Inc. | 159731 | 10532662 |
|  ***Insurance (6.0%)*** |  |  |
|  Allstate Corp. (The) | 22235 | 4772743 |
|  Chubb Ltd. | 40663 | 11477132 |
|  Everest Group Ltd. | 15597 | 5462537 |
|  First American Financial Corp. | 84472 | 5426481 |
|  |  | 27138893 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 91332267 |
|  **Health Care (17.7%)** |  |  |
|  ***Health Care Equipment & Supplies (5.7%)*** |  |  |
|  Medtronic plc | 157414 | 14992109 |
|  Smith & Nephew plc (ADR)(x) | 303500 | 11014015 |
|  |  | 26006124 |
|  **Health Care Providers & Services (6.3%)** |  |  |
|  ***CVS Health Corp.*** | 152394 | 11488984 |
|  Humana, Inc. | 40192 | 10456753 |
|  UnitedHealth Group, Inc. | 19892 | 6868707 |
|  |  | 28814444 |
|  ***Pharmaceuticals (5.7%)*** |  |  |
|  Merck & Co., Inc. | 166469 | 13971743 |
|  Sanofi SA (ADR) | 257072 | 12133799 |
|  |  | 26105542 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 80926110 |
|  **Industrials (8.1%)** |  |  |
|  ***Aerospace & Defense (5.2%)*** |  |  |
|  General Dynamics Corp. | 40483 | 13804703 |
|  L3Harris Technologies, Inc. | 32744 | 10000345 |
|  |  | 23805048 |
|  ***Building Products (1.6%)*** |  |  |
|  Johnson Controls International plc | 64069 | 7044387 |
|  ***Machinery (1.3%)*** |  |  |
|  Fortive Corp. | 122163 | 5984765 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 36834200 |
|  **Information Technology (4.1%)** |  |  |
|  ***Electronic Equipment, Instruments & Components (0.4%)*** |  |  |
|  Ralliant Corp. | 40721 | 1780730 |
|  ***Semiconductors & Semiconductor Equipment (1.8%)*** |  |  |
|  Microchip Technology, Inc. | 133910 | 8599700 |
|  ***Software (1.9%)*** |  |  |
|  Oracle Corp. | 30600 | 8605944 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 18986374 |
|  **Materials (6.6%)** |  |  |
|  ***Chemicals (6.6%)*** |  |  |
|  Air Products and Chemicals, Inc. | 52969 | 14445706 |
|  DuPont de Nemours, Inc. | 151254 | 11782686 |
|  International Flavors & Fragrances, Inc. | 67287 | 4140842 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 30369234 |
|  **Real Estate (8.1%)** |  |  |
|  ***Industrial REITs (3.2%)*** |  |  |
|  Prologis, Inc. (REIT) | 128769 | 14746626 |
|  ***Residential REITs (2.1%)*** |  |  |
|  Mid-America Apartment Communities, Inc. (REIT) | 66765 | 9329074 |
|  ***Specialized REITs (2.8%)*** |  |  |
|  Public Storage (REIT) | 44319 | 12801543 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 36877243 |
|  **Utilities (8.8%)** |  |  |
|  ***Electric Utilities (8.8%)*** |  |  |
|  Entergy Corp. | 123036 | 11465725 |
|  Pinnacle West Capital Corp. | 157681 | 14137678 |
|  Xcel Energy, Inc. | 182523 | 14720480 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 40323883 |
|  **Total Common Stocks (97.8%)**<br> *(Cost $349,256,250)* |  | 446991690 |
|  MASTER LIMITED PARTNERSHIPS: |  |  |
|  **Energy (2.4%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (2.4%)*** |  |  |
|  Plains GP Holdings LP, Class A<br>(*Cost $7,460,575*) | 601330 | 10968259 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT EQUITY INCOME PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (1.8%)** |  |  |
|  Allspring Government Money Market Fund, Select Shares 4.07% (7 day yield) (xx) | 1000000 | $1000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 4022198 | 4022198 |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 3000000 | 3000000 |
|  **Total Investment Companies** |  | 8022198 |
|  **Total Short-Term Investments (1.8%)**<br> *(Cost $8,022,198)* |  | 8022198 |
|  **Total Investments in Securities (102.0%)**<br> *(Cost $364,739,023)* |  | 465982147 |
|  **Other Assets Less Liabilities (-2.0%)** |  | (8964823) |
|  **Net Assets (100%)** |  | $457017324 |

---

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $8,031,050. This was collateralized by cash of $8,022,198 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*REIT — Real Estate Investment Trust* 

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $15887076 | $— | $— | $15887076 |
|  Consumer Discretionary | 5389344 |  |  | 5389344 |
|  Consumer Staples | 52045436 |  |  | 52045436 |
|  Energy | 38020523 |  |  | 38020523 |
|  Financials | 91332267 |  |  | 91332267 |
|  Health Care | 80926110 |  |  | 80926110 |
|  Industrials | 36834200 |  |  | 36834200 |
|  Information Technology | 18986374 |  |  | 18986374 |
|  Materials | 30369234 |  |  | 30369234 |
|  Real Estate | 36877243 |  |  | 36877243 |
|  Utilities | 40323883 |  |  | 40323883 |
|  **Master Limited Partnerships** |  |  |  |  |
|  Energy | 10968259 |  |  | 10968259 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 8022198 |  |  | 8022198 |
|  **Total Assets** | $**465982147** | $**—** | $**—** | $**465982147** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**–** |
|  **Total** | $**465982147** | $**—** | $**—** | $**465982147** |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT EQUITY INCOME PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $126061934 |
|  Aggregate gross unrealized depreciation | (25032766) |
|  Net unrealized appreciation | $101029168 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $364952979 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT GAMCO MERGERS & ACQUISITIONS PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (19.3%)** |  |  |
|  ***Diversified Telecommunication Services (3.3%)*** |  |  |
|  Altaba, Inc.(x)\* | 102200 | $137970 |
|  Frontier Communications Parent, Inc.\* | 28500 | 1064475 |
|  Koninklijke KPN NV | 90000 | 431851 |
|  Liberty Global Ltd., Class A\* | 60000 | 687600 |
|  Liberty Global Ltd., Class C\* | 20000 | 235000 |
|  Telesat Corp.\* | 115000 | 3047500 |
|  |  | 5604396 |
|  ***Entertainment (4.0%)*** |  |  |
|  Atlanta Braves Holdings, Inc., Class A\* | 91000 | 4137770 |
|  Electronic Arts, Inc. | 500 | 100850 |
|  Madison Square Garden Sports Corp.\* | 11500 | 2610500 |
|  |  | 6849120 |
|  ***Interactive Media & Services (0.0%)†*** |  |  |
|  Vimeo, Inc.\* | 8000 | 62000 |
|  ***Media (6.4%)*** |  |  |
|  Beasley Broadcast Group, Inc., Class A(x)\* | 12000 | 64800 |
|  Clear Channel Outdoor Holdings, Inc.\* | 720000 | 1137600 |
|  EchoStar Corp., Class A\* | 17000 | 1298120 |
|  EW Scripps Co. (The), Class A\* | 68500 | 168510 |
|  Fox Corp., Class B | 84200 | 4823818 |
|  Integral Ad Science Holding Corp.\* | 10000 | 101700 |
|  Lee Enterprises, Inc.(x)\* | 70000 | 380800 |
|  TEGNA, Inc. | 148000 | 3008840 |
|  |  | 10984188 |
|  ***Wireless Telecommunication Services (5.6%)*** |  |  |
|  Array Digital Infrastructure, Inc.(x) | 64000 | 3200640 |
|  Millicom International Cellular SA | 87000 | 4222980 |
|  Orange Belgium SA\* | 30000 | 669208 |
|  Telephone and Data Systems, Inc. | 36000 | 1412640 |
|  |  | 9505468 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 33005172 |
|  **Consumer Discretionary (4.9%)** |  |  |
|  ***Automobile Components (0.2%)*** |  |  |
|  Dowlais Group plc | 400000 | 429830 |
|  ***Broadline Retail (0.1%)*** |  |  |
|  Macy's, Inc. | 8500 | 152405 |
|  ***Distributors (0.1%)*** |  |  |
|  Bapcor Ltd. | 50000 | 104880 |
|  ***Hotels, Restaurants & Leisure (0.3%)*** |  |  |
|  Entain plc | 25000 | 293793 |
|  Just Eat Takeaway.com NV(m)\* | 10000 | 237041 |
|  Playtech plc | 6000 | 29776 |
|  Potbelly Corp.\* | 400 | 6816 |
|  Target Hospitality Corp.\* | 3500 | 29680 |
|  |  | 597106 |
|  ***Household Durables (3.6%)*** |  |  |
|  iRobot Corp.\* | 13000 | 46670 |
|  Lennar Corp., Class B | 25000 | 2999750 |
|  Nobility Homes, Inc. | 16500 | 495000 |
|  Sony Group Corp. (ADR)(x) | 90000 | 2591100 |
|  |  | 6132520 |
|  ***Specialty Retail (0.4%)*** |  |  |
|  Advance Auto Parts, Inc.(x) | 3000 | 184200 |
|  Sportsman's Warehouse Holdings, Inc.\* | 153000 | 423810 |
|  Yamada Holdings Co. Ltd. | 12400 | 40700 |
|  |  | 648710 |
|  ***Textiles, Apparel & Luxury Goods (0.2%)*** |  |  |
|  Capri Holdings Ltd.\* | 14000 | 278880 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 8344331 |
|  **Consumer Staples (0.7%)** |  |  |
|  ***Consumer Staples Distribution & Retail (0.5%)*** |  |  |
|  Albertsons Cos., Inc., Class A | 42000 | 735420 |
|  GrainCorp Ltd., Class A | 6000 | 35732 |
|  |  | 771152 |
|  ***Food Products (0.2%)*** |  |  |
|  Kellanova | 4500 | 369090 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 1140242 |
|  **Energy (1.2%)** |  |  |
|  ***Energy Equipment & Services (0.8%)*** |  |  |
|  Aris Water Solutions, Inc., Class A | 10000 | 246600 |
|  DMC Global, Inc.\* | 6000 | 50700 |
|  Schlumberger NV | 30870 | 1061002 |
|  |  | 1358302 |
|  ***Oil, Gas & Consumable Fuels (0.4%)*** |  |  |
|  Alvopetro Energy Ltd.(x) | 88200 | 423350 |
|  Cool Co. Ltd. | 1000 | 9500 |
|  Exxon Mobil Corp. | 300 | 33825 |
|  Gulf Coast Ultra Deep Royalty Trust\* | 550000 | 17930 |
|  Parkland Corp. | 8000 | 221312 |
|  |  | 705917 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 2064219 |
|  **Financials (5.1%)** |  |  |
|  ***Banks (2.1%)*** |  |  |
|  Cadence Bank | 14000 | 525560 |
|  Dogwood State Bank\* | 3000 | 70650 |
|  First Horizon Corp. | 60000 | 1356600 |
|  Flushing Financial Corp. | 75000 | 1035750 |
|  Horizon Bancorp, Inc. | 13000 | 208130 |
|  Renasant Corp. | 5000 | 184450 |
|  SouthState Bank Corp. | 1200 | 118644 |
|  Synovus Financial Corp. | 2500 | 122700 |
|  |  | 3622484 |
|  ***Capital Markets (0.1%)*** |  |  |
|  BKF Capital Group, Inc.(r)\* | 2434 | 70586 |
|  Guardian Capital Group Ltd. | 2000 | 95653 |
|  |  | 166239 |
|  ***Consumer Finance (0.1%)*** |  |  |
|  Capital One Financial Corp. | 815 | 173253 |
|  ***Financial Services (2.7%)*** |  |  |
|  AvidXchange Holdings, Inc.\* | 435000 | 4328250 |
|  Cantaloupe, Inc.\* | 15000 | 158550 |
|  CNFinance Holdings Ltd. (ADR)\* | 176 | 737 |
|  International Money Express, Inc.\* | 12000 | 167640 |
|  |  | 4655177 |
|  ***Insurance (0.1%)*** |  |  |
|  Aspen Insurance Holdings Ltd., Class A\* | 4000 | 146840 |
|  Sony Financial Group, Inc. (ADR)\* | 18000 | 66600 |
|  |  | 213440 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 8830593 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT GAMCO MERGERS & ACQUISITIONS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** | **Value**<br>**(Note 1)** |  |
|  **Health Care (5.1%)** |  |  |  |  |
|  ***Biotechnology (0.7%)*** |  |  |  |  |
|  89bio, Inc.\* | 10000 | $| 147000 |  |
|  GRAIL, Inc.\* | 400 |  | 23652 |  |
|  Grifols SA (ADR) | 24000 |  | 239040 |  |
|  Merus NV\* | 2000 |  | 188300 |  |
|  Metsera, Inc.(x)\* | 2500 |  | 130825 |  |
|  Tourmaline Bio, Inc.\* | 10000 |  | 478300 |  |
|  |  |  | 1207117 |  |
|  ***Health Care Equipment & Supplies (2.5%)*** |  |  |  |  |
|  Bioventus, Inc., Class A\* | 2000 |  | 13380 |  |
|  Globus Medical, Inc., Class A\* | 12500 |  | 715875 |  |
|  ICU Medical, Inc.\* | 500 |  | 59980 |  |
|  Innocoll Biotherapeutics Holdings Ltd.(r)\* | 125000 |  |  |  |
|  LENSAR, Inc.\* | 30000 |  | 370500 |  |
|  QuidelOrtho Corp.\* | 7000 |  | 206150 |  |
|  STAAR Surgical Co.\* | 11000 |  | 295570 |  |
|  Surmodics, Inc.\* | 77000 |  | 2301530 |  |
|  Zimvie, Inc.\* | 16000 |  | 303040 |  |
|  |  |  | 4266025 |  |
|  ***Health Care Providers & Services (0.2%)*** |  |  |  |  |
|  Andlauer Healthcare Group, Inc.(x) | 4000 |  | 151671 |  |
|  Cross Country Healthcare, Inc.\* | 11300 |  | 160460 |  |
|  Performant Healthcare, Inc.(x)\* | 10000 |  | 77300 |  |
|  Premier, Inc., Class A | 1000 |  | 27800 |  |
|  |  |  | 417231 |  |
|  ***Life Sciences Tools & Services (0.0%)†*** |  |  |  |  |
|  Illumina, Inc.\* | 200 |  | 18994 |  |
|  ***Pharmaceuticals (1.7%)*** |  |  |  |  |
|  scPharmaceuticals, Inc.\* | 8000 |  | 45360 |  |
|  Verona Pharma plc (ADR)\* | 23000 |  | 2454330 |  |
|  Viatris, Inc. | 36000 |  | 356400 |  |
|  |  |  | 2856090 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  |  | 8765457 |  |
|  **Industrials (5.3%)** |  |  |  |  |
|  ***Aerospace & Defense (1.2%)*** |  |  |  |  |
|  Hexcel Corp. | 13000 |  | 815100 |  |
|  Spirit AeroSystems Holdings, Inc., Class A\* | 30000 |  | 1158000 |  |
|  |  |  | 1973100 |  |
|  ***Commercial Services & Supplies (0.0%)†*** |  |  |  |  |
|  Steelcase, Inc., Class A | 2000 |  | 34400 |  |
|  ***Ground Transportation (0.0%)†*** |  |  |  |  |
|  Norfolk Southern Corp. | 200 |  | 60082 |  |
|  ***Machinery (3.0%)*** |  |  |  |  |
|  CFT SpA(r)\* | 25000 |  | 101262 |  |
|  Chart Industries, Inc.\* | 5500 |  | 1100825 |  |
|  Crane Co. | 800 |  | 147312 |  |
|  Mueller Industries, Inc. | 13500 |  | 1364985 |  |
|  Mueller Water Products, Inc., Class A | 10000 |  | 255200 |  |
|  Park-Ohio Holdings Corp. | 15000 |  | 318600 |  |
|  Stratasys Ltd.\* | 42000 |  | 470400 |  |
|  Valmet OYJ | 13000 |  | 431628 |  |
|  Velan, Inc.(x) | 75000 |  | 840698 |  |
|  |  |  | 5030910 |  |
|  ***Professional Services (0.3%)*** |  |  |  |  |
|  Dayforce, Inc.\* | 5500 |  | 378895 |  |
|  Ework Group AB | 1441 |  | 16898 |  |
|  TELUS International CDA, Inc.\* | 25000 |  | 112000 |  |
|  |  |  | 507793 |  |
|  ***Trading Companies & Distributors (0.8%)*** | ***Trading Companies & Distributors (0.8%)*** | ***Trading Companies & Distributors (0.8%)*** | ***Trading Companies & Distributors (0.8%)*** | **** |
|  Air Lease Corp., Class A | 1000 |  | 63650 |  |
|  Herc Holdings, Inc. | 2500 |  | 291650 |  |
|  McGrath RentCorp | 9200 |  | 1079160 |  |
|  |  |  | 1434460 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  |  | 9040745 |  |
|  **Information Technology (2.2%)** |  |  |  |  |
|  ***Electronic Equipment, Instruments & Components (0.7%)*** |  |  |  |  |
|  CTS Corp. | 2000 |  | 79880 |  |
|  Rogers Corp.\* | 14700 |  | 1182762 |  |
|  |  |  | 1262642 |  |
|  ***IT Services (0.1%)*** |  |  |  |  |
|  Datagroup SE | 3000 |  | 225418 |  |
|  ***Semiconductors & Semiconductor Equipment (0.1%)*** |  |  |  |  |
|  Alphawave IP Group plc\* | 10000 |  | 25082 |  |
|  Silicon Motion Technology Corp. (ADR) | 1200 |  | 113772 |  |
|  |  |  | 138854 |  |
|  ***Software (1.3%)*** |  |  |  |  |
|  Gen Digital, Inc. | 24500 |  | 695555 |  |
|  Informatica, Inc., Class A\* | 20000 |  | 496800 |  |
|  Meridianlink, Inc.\* | 4000 |  | 79720 |  |
|  Pinewood Technologies Group plc\* | 21800 |  | 121673 |  |
|  PROS Holdings, Inc.\* | 12000 |  | 274920 |  |
|  Sapiens International Corp. NV | 2000 |  | 86000 |  |
|  Verint Systems, Inc.\* | 20000 |  | 405000 |  |
|  Yext, Inc.\* | 1500 |  | 12780 |  |
|  |  |  | 2172448 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  |  | 3799362 |  |
|  **Materials (8.6%)** |  |  |  |  |
|  ***Chemicals (0.5%)*** |  |  |  |  |
|  Covestro AG\* | 7000 |  | 479130 |  |
|  Mativ Holdings, Inc. | 39200 |  | 443352 |  |
|  |  |  | 922482 |  |
|  ***Construction Materials (2.8%)*** |  |  |  |  |
|  James Hardie Industries plc (ADR)(x)\* | 1500 |  | 28815 |  |
|  Vulcan Materials Co. | 15500 |  | 4768110 |  |
|  |  |  | 4796925 |  |
|  ***Containers & Packaging (2.1%)*** |  |  |  |  |
|  Amcor plc | 326250 |  | 2668725 |  |
|  Myers Industries, Inc. | 52000 |  | 880880 |  |
|  |  |  | 3549605 |  |
|  ***Metals & Mining (3.2%)*** |  |  |  |  |
|  Gold Road Resources Ltd.(r) | 100000 |  | 228000 |  |
|  Horizon Copper Corp.\* | 583800 |  | 830584 |  |
|  Kinross Gold Corp. | 5960 |  | 147919 |  |
|  Newmont Corp. | 13000 |  | 1096030 |  |
|  Orogen Royalties, Inc.\* | 12500 |  | 22275 |  |
|  Pan American Silver Corp. | 25000 |  | 968779 |  |
|  Sandstorm Gold Ltd. | 175000 |  | 2191000 |  |
|  Tredegar Corp.\* | 10100 |  | 81103 |  |
|  |  |  | 5565690 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  |  | 14834702 |  |
|  **Real Estate (1.3%)** |  |  |  |  |
|  ***Hotel & Resort REITs (0.4%)*** |  |  |  |  |
|  Ryman Hospitality Properties, Inc. (REIT) | 7500 |  | 671925 |  |
|  ***Industrial REITs (0.4%)*** |  |  |  |  |
|  Plymouth Industrial REIT, Inc. (REIT) | 33000 |  | 736890 |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT GAMCO MERGERS & ACQUISITIONS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***Office REITs (0.1%)*** |  |  |
|  City Office REIT, Inc. (REIT) | 28000 | $194880 |
|  ***Real Estate Management & Development (0.0%)†*** |  |  |
|  Corem Property Group AB, Class B(x) | 7500 | 3280 |
|  ***Specialized REITs (0.4%)*** |  |  |
|  Millrose Properties, Inc. (REIT) | 17500 | 588175 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 2195150 |
|  **Utilities (12.2%)** |  |  |
|  ***Electric Utilities (4.7%)*** |  |  |
|  ALLETE, Inc. | 33500 | 2224400 |
|  Evergy, Inc. | 16500 | 1254330 |
|  Portland General Electric Co. | 10000 | 440000 |
|  TXNM Energy, Inc. | 71500 | 4043325 |
|  |  | 7962055 |
|  ***Gas Utilities (5.7%)*** |  |  |
|  National Fuel Gas Co. | 56500 | 5218905 |
|  Southwest Gas Holdings, Inc. | 58000 | 4543720 |
|  |  | 9762625 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  Alerion Cleanpower SpA(x) | 8000 | 181086 |
|  ***Multi-Utilities (1.1%)*** |  |  |
|  Avista Corp. | 52000 | 1966120 |
|  ***Water Utilities (0.6%)*** |  |  |
|  Severn Trent plc | 28000 | 974568 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 20846454 |
|  **Total Common Stocks (65.9%)**<br> *(Cost $94,094,492)* |  | 112866427 |
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Consumer Staples (0.0%)†** |  |  |
|  ***Food Products (0.0%)†*** |  |  |
|  Contraf-Nicotex-Tobacco GmbH, CVR\* | 15000 | 3000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 3000 |
|  **Health Care (0.2%)** |  |  |
|  ***Biotechnology (0.2%)*** |  |  |
|  Adamas Pharmaceuticals, Inc., CVR \* | 54000 | 675 |
|  Akouos, Inc., CVR (x)\* | 141148 | 70574 |
|  Albireo Pharma, Inc., CVR \* | 3000 | 6750 |
|  Ambit Biosciences Corp., CVR (r)\* | 20000 |  |
|  Blueprint Medicines Corp., CVR \* | 22200 | 8880 |
|  Checkpoint Therapeutics, Inc., CVR (r)\* | 10000 | 1200 |
|  Chinook Therapeutics, Inc., CVR \* | 125000 | 25000 |
|  Epizyme, Inc., CVR \* | 10000 | 200 |
|  Fusion Pharmaceuticals, Inc., CVR \* | 6000 | 3000 |
|  Gracell Biotechnologies, Inc., CVR \* | 100000 | 4000 |
|  Icosavax, Inc., CVR \* | 30000 | 9000 |
|  Mirati Therapeutics, Inc., CVR (r)\* | 70000 | 26250 |
|  Poseida Therapeutics, Inc., CVR (r)\* | 20000 | 7500 |
|  Regulus Therapeutics, Inc., CVR \* | 40000 | 40000 |
|  Sage Therapeutics, Inc., CVR \* | 100000 | 15000 |
|  Sigilon Therapeutics, Inc., CVR (r)\* | 500 | 2831 |
|  Verve Therapeutics, Inc., CVR \* | 30000 | 15000 |
|  Vigil Neuroscience, Inc., CVR(r)\* | 75000 | 2813 |
|  |  | 238673 |
|  ***Health Care Equipment & Supplies (0.0%)†*** |  |  |
|  ABIOMED, Inc., CVR\* | 21000 | 33600 |
|  ***Pharmaceuticals (0.0%)†*** |  |  |
|  Alimera Sciences, Inc., CVR (x)\* | 100000 | 1000 |
|  Landos Biopharma, Inc., CVR (r)\* | 4000 | 7530 |
|  Opiant Pharmaceuticals, Inc., CVR\* | 10000 | 5000 |
|  |  | 13530 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 285803 |
|  **Industrials (0.0%)†** |  |  |
|  ***Electrical Equipment (0.0%)†*** |  |  |
|  Pineapple Energy, Inc., CVR(r)\* | 12500 | 9890 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 9890 |
|  **Information Technology (0.1%)** |  |  |
|  ***IT Services (0.0%)†*** |  |  |
|  Flexion, Inc., CVR\* | 1000 | 100 |
|  ***Software (0.1%)*** |  |  |
|  Gen Digital, Inc., CVR, expiring 4/21/30\* | 18000 | 125460 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 125560 |
|  **Materials (0.0%)†** |  |  |
|  ***Metals & Mining (0.0%)†*** |  |  |
|  Kinross Gold Corp., expiring 2/25/32\* | 14000 | 16100 |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Resolute Forest Products, Inc., CVR\* | 45000 | 67500 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 83600 |
|  **Total Rights (0.3%)<br>(***Cost $404,332***)** |  | 507853 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (30.0%)** |  |  |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 100000 | 100000 |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 100000 | 100000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 704285 | 704285 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 50435320 | 50455493 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 51359778 |
|  **Total Short-Term Investments (30.0%)**<br> *(Cost $51,344,417)* |  | 51359778 |
|  **Total Investments in Securities (96.2%)**<br> *(Cost $145,843,241)* |  | 164734058 |
|  **Other Assets Less Liabilities (3.8%)** |  | 6522311 |
|  **Net Assets (100%)** |  | $171256369 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT GAMCO MERGERS & ACQUISITIONS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $237,041 or 0.1% of net assets.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $6,024,338. This was collateralized by $5,421,677 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.000%, maturing 10/9/25 – 5/15/55 and by cash of $910,086 of which $904,285 was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*CVR — Contingent Value Right* 

*REIT — Real Estate Investment Trust* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT GAMCO MERGERS & ACQUISITIONS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $31766143 | $1239029 | $— | $33005172 |
|  Consumer Discretionary | 6713311 | 1631020 |  | 8344331 |
|  Consumer Staples | 1104510 | 35732 |  | 1140242 |
|  Energy | 2064219 |  |  | 2064219 |
|  Financials | 8693407 | 66600 | 70586 | 8830593 |
|  Health Care | 8765457 |  | — (a) | 8765457 |
|  Industrials | 8490957 | 448526 | 101262 | 9040745 |
|  Information Technology | 3427189 | 372173 |  | 3799362 |
|  Materials | 14127572 | 479130 | 228000 | 14834702 |
|  Real Estate | 2191870 | 3280 |  | 2195150 |
|  Utilities | 19690800 | 1155654 |  | 20846454 |
|  **Rights** |  |  |  |  |
|  Consumer Staples |  | 3000 |  | 3000 |
|  Health Care |  | 237679 | 48124 | 285803 |
|  Industrials |  |  | 9890 | 9890 |
|  Information Technology | 125460 | 100 |  | 125560 |
|  Materials | 16100 | 67500 |  | 83600 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 51359778 |  |  | 51359778 |
|  **Total Assets** | $**158536773** | $**5739423** | $**457862** | $**164734058** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**158536773** | $**5739423** | $**457862** | $**164734058** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $29436206 |
|  Aggregate gross unrealized depreciation | (11100580) |
|  Net unrealized appreciation | $18335626 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $146398432 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT GAMCO SMALL COMPANY VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Number of<br>Shares** |  | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |  |
|  **Communication Services (8.8%)** |  |  |  |
|  ***Diversified Telecommunication Services (1.1%)*** | ***Diversified Telecommunication Services (1.1%)*** | **** |  |
|  Anterix, Inc.\* | 230000 |  | $4938100 |
|  Liberty Global Ltd., Class A\* | 155000 |  | 1776300 |
|  Liberty Global Ltd., Class C\* | 230000 |  | 2702500 |
|  Liberty Latin America Ltd., Class A\* | 750000 |  | 6217500 |
|  Liberty Latin America Ltd., Class C\* | 13000 |  | 109720 |
|  Shenandoah Telecommunications Co.(x) | 263126 |  | 3531151 |
|  Sunrise Communications AG, Class A | 52000 |  | 3071465 |
|  Telesat Corp.\* | 677500 |  | 17953750 |
|  Verizon Communications, Inc. | 45000 |  | 1977750 |
|  |  |  | 42278236 |
|  ***Entertainment (4.7%)*** |  |  |  |
|  Atlanta Braves Holdings, Inc., Class A\* | 363000 |  | 16505610 |
|  Atlanta Braves Holdings, Inc., Class C\* | 255000 |  | 10605450 |
|  IMAX Corp.\* | 56000 |  | 1834000 |
|  Lionsgate Studios Corp.\* | 335200 |  | 2312880 |
|  Live Nation Entertainment, Inc.\* | 238000 |  | 38889200 |
|  Madison Square Garden |  |  |  |
|  Entertainment Corp., Class A\* | 296000 |  | 13391040 |
|  Madison Square Garden Sports Corp.\* | 175500 |  | 39838500 |
|  Marcus Corp. (The) | 615000 |  | 9538650 |
|  Reading International, Inc., Class A\* | 250000 |  | 367500 |
|  Reading International, Inc., Class B\* | 34000 |  | 379780 |
|  Sphere Entertainment Co.(x)\* | 339000 |  | 21058680 |
|  Starz Entertainment Corp. | 20905 |  | 307931 |
|  Take-Two Interactive Software, Inc.\* | 57000 |  | 14726520 |
|  TKO Group Holdings, Inc., Class A | 21000 |  | 4241160 |
|  Warner Bros Discovery, Inc.\* | 46500 |  | 908145 |
|  |  |  | 174905046 |
|  ***Interactive Media & Services (0.0%)†*** |  |  |  |
|  Cars.com, Inc.(x)\* | 20000 |  | 244400 |
|  ***Media (2.1%)*** |  |  |  |
|  AMC Networks, Inc., Class A\* | 200000 |  | 1648000 |
|  Beasley Broadcast Group, Inc., Class A(x)\*‡ | 30000 |  | 162000 |
|  Clear Channel Outdoor Holdings, Inc.\* | 4100000 |  | 6478000 |
|  Corus Entertainment, Inc., Class B(x)\* | 120000 |  | 7760 |
|  EchoStar Corp., Class A\* | 43500 |  | 3321660 |
|  Entravision Communications Corp., Class A | 560000 |  | 1304800 |
|  EW Scripps Co. (The), Class A\* | 1262000 |  | 3104520 |
|  Gray Media, Inc. | 319300 |  | 1845554 |
|  Gray Media, Inc., Class A | 60000 |  | 582000 |
|  Grupo Televisa SAB (ADR) | 4150000 |  | 11163500 |
|  Interpublic Group of Cos., Inc. (The) | 417000 |  | 11638470 |
|  Lee Enterprises, Inc.(x)\* | 205000 |  | 1115200 |
|  Nexstar Media Group, Inc., Class A(x) | 34600 |  | 6841804 |
|  Salem Media Group, Inc., Class A(x)\* | 143000 |  | 119188 |
|  Sinclair, Inc. | 1150000 |  | 17365000 |
|  Sirius XM Holdings, Inc. | 117000 |  | 2723175 |
|  TEGNA, Inc. | 145000 |  | 2947850 |
|  Townsquare Media, Inc., Class A | 236000 |  | 1585920 |
|  WideOpenWest, Inc.\* | 752000 |  | 3880320 |
|  |  |  | 77834721 |
|  ***Wireless Telecommunication Services (0.9%)*** |  |  |  |
|  Array Digital Infrastructure, Inc.(x) | 196000 |  | 9801960 |
|  Gogo, Inc.\* | 330000 |  | 2834700 |
|  Rogers Communications, Inc., Class B(x) | 200000 |  | 6894000 |
|  Telephone and Data Systems, Inc. | 354000 |  | 13890960 |
|  |  |  | 33421620 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  |  | 328684023 |
|  **Consumer Discretionary (17.2%)** |  |  |  |
|  ***Automobile Components (4.9%)*** |  |  |  |
|  BorgWarner, Inc. | 240000 |  | 10550400 |
|  Brembo NV(x) | 1000088 |  | 10549767 |
|  Dana, Inc. | 1125000 |  | 22545000 |
|  Garrett Motion, Inc. | 1100000 |  | 14982000 |
|  Gentex Corp. | 190000 |  | 5377000 |
|  Modine Manufacturing Co.\* | 597300 |  | 84912168 |
|  Phinia, Inc. | 50000 |  | 2874000 |
|  Standard Motor Products, Inc. | 398000 |  | 16246360 |
|  Stoneridge, Inc.\* | 205000 |  | 1562100 |
|  Strattec Security Corp.\*‡ | 229000 |  | 15585740 |
|  Superior Industries International, Inc.\* | 26000 |  | 2291 |
|  |  |  | 185186826 |
|  ***Automobiles (0.2%)*** |  |  |  |
|  Thor Industries, Inc. | 4000 |  | 414760 |
|  Winnebago Industries, Inc. | 163000 |  | 5450720 |
|  |  |  | 5865480 |
|  ***Diversified Consumer Services (0.6%)*** |  |  |  |
|  Matthews International Corp., Class A(x) | 708000 |  | 17190240 |
|  Universal Technical Institute, Inc.\* | 168000 |  | 5468400 |
|  |  |  | 22658640 |
|  ***Hotels, Restaurants & Leisure (3.2%)*** |  |  |  |
|  Biglari Holdings, Inc., Class A\*‡ | 10275 |  | 15874875 |
|  Boyd Gaming Corp. | 264037 |  | 22825999 |
|  Brightstar Lottery plc(x) | 60000 |  | 1035000 |
|  Canterbury Park Holding Corp.‡ | 319000 |  | 5161420 |
|  Cheesecake Factory, Inc. (The)(x) | 324000 |  | 17703360 |
|  Churchill Downs, Inc. | 153000 |  | 14842530 |
|  Cracker Barrel Old Country Store, Inc.(x) | 12000 |  | 528720 |
|  Denny's Corp.(x)\* | 358000 |  | 1872340 |
|  Full House Resorts, Inc.\* | 535000 |  | 1717350 |
|  Golden Entertainment, Inc. | 265000 |  | 6248700 |
|  Inspired Entertainment, Inc.\* | 275000 |  | 2579500 |
|  Krispy Kreme, Inc. | 50000 |  | 193500 |
|  Las Vegas Sands Corp. | 67000 |  | 3603930 |
|  Nathan's Famous, Inc.‡ | 205500 |  | 22757070 |
|  Ollamani SAB\* | 750286 |  | 2249199 |
|  Rock Field Co. Ltd.(x) | 206000 |  | 2042100 |
|  |  |  | 121235593 |
|  ***Household Durables (2.2%)*** |  |  |  |
|  Bassett Furniture Industries, Inc. | 394000 |  | 6162160 |
|  Cavco Industries, Inc.\* | 68800 |  | 39954224 |
|  Champion Homes, Inc.\* | 164000 |  | 12524680 |
|  Ethan Allen Interiors, Inc. | 25000 |  | 736500 |
|  iRobot Corp.(x)\* | 17000 |  | 61030 |
|  La-Z-Boy, Inc. | 134000 |  | 4598880 |
|  Lennar Corp., Class B | 100000 |  | 11999000 |
|  Lifetime Brands, Inc. | 180000 |  | 696600 |
|  Nobility Homes, Inc.‡ | 214800 |  | 6444000 |
|  |  |  | 83177074 |
|  ***Leisure Products (0.6%)*** |  |  |  |
|  American Outdoor Brands, Inc.\* | 255000 |  | 2213400 |
|  Brunswick Corp. | 56500 |  | 3573060 |
|  Clarus Corp. | 315000 |  | 1102500 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT GAMCO SMALL COMPANY VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Johnson Outdoors, Inc., Class A | 299000 | $12076610 |
|  Marine Products Corp. | 253000 | 2244110 |
|  Universal Entertainment Corp.(x)\* | 55000 | 362985 |
|  |  | 21572665 |
|  ***Specialty Retail (5.3%)*** |  |  |
|  1-800-Flowers.com, Inc., Class A(x)\* | 990000 | 4554000 |
|  Advance Auto Parts, Inc.(x) | 35400 | 2173560 |
|  Arko Corp.(x) | 80000 | 365600 |
|  AutoNation, Inc.\* | 284700 | 62283819 |
|  Big 5 Sporting Goods Corp.(x)\* | 525000 | 756000 |
|  Bowlin Travel Centers, Inc.\* | 94000 | 423000 |
|  Lands' End, Inc.\* | 299000 | 4215900 |
|  Monro, Inc.(x) | 522000 | 9380340 |
|  O'Reilly Automotive, Inc.\* | 150000 | 16171500 |
|  Penske Automotive Group, Inc. | 397200 | 69077052 |
|  Pets at Home Group plc | 210000 | 578414 |
|  Sally Beauty Holdings, Inc.\* | 690000 | 11233200 |
|  Sportsman's Warehouse Holdings, Inc.\* | 385000 | 1066450 |
|  Tractor Supply Co. | 240400 | 13671548 |
|  Valvoline, Inc.\* | 90000 | 3231900 |
|  |  | 199182283 |
|  ***Textiles, Apparel & Luxury Goods (0.2%)*** |  |  |
|  Capri Holdings Ltd.\* | 5000 | 99600 |
|  Hanesbrands, Inc.\* | 89500 | 589805 |
|  Movado Group, Inc. | 220000 | 4173400 |
|  Wolverine World Wide, Inc. | 53500 | 1468040 |
|  |  | 6330845 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 645209406 |
|  **Consumer Staples (4.6%)** |  |  |
|  ***Beverages (0.2%)*** |  |  |
|  Boston Beer Co., Inc. (The), Class A\* | 5800 | 1226236 |
|  Brown-Forman Corp., Class A | 86000 | 2314260 |
|  Crimson Wine Group Ltd.\* | 372500 | 1930817 |
|  Davide Campari-Milano NV(x) | 380000 | 2395766 |
|  |  | 7867079 |
|  ***Consumer Staples Distribution & Retail (1.0%)*** |  |  |
|  Ingles Markets, Inc., Class A‡ | 464000 | 32275840 |
|  Village Super Market, Inc., Class A | 146000 | 5454560 |
|  |  | 37730400 |
|  ***Food Products (1.3%)*** |  |  |
|  Calavo Growers, Inc. | 250000 | 6435000 |
|  Farmer Bros Co.\* | 595000 | 1017450 |
|  Flowers Foods, Inc. | 60000 | 783000 |
|  Hain Celestial Group, Inc. (The)\* | 222000 | 350760 |
|  Ingredion, Inc. | 13500 | 1648485 |
|  J & J Snack Foods Corp. | 43000 | 4131870 |
|  John B Sanfilippo & Son, Inc. | 111000 | 7135080 |
|  Lifeway Foods, Inc.\* | 112500 | 3123000 |
|  Limoneira Co. | 250000 | 3712500 |
|  Maple Leaf Foods, Inc. | 140000 | 3622476 |
|  Post Holdings, Inc.\* | 92000 | 9888160 |
|  Premier Foods plc | 1048000 | 2706154 |
|  Tootsie Roll Industries, Inc. | 72500 | 3039200 |
|  |  | 47593135 |
|  ***Household Products (1.9%)*** |  |  |
|  Church & Dwight Co., Inc. | 100000 | 8763000 |
|  Energizer Holdings, Inc. | 370000 | 9209300 |
|  Oil-Dri Corp. of America‡ | 728000 | 44437120 |
|  Spectrum Brands Holdings, Inc. | 67000 | 3519510 |
|  WD-40 Co. | 37500 | 7410000 |
|  |  | 73338930 |
|  ***Personal Care Products (0.2%)*** |  |  |
|  BellRing Brands, Inc.\* | 77000 | 2798950 |
|  Edgewell Personal Care Co. | 189000 | 3848040 |
|  United-Guardian, Inc. | 152000 | 1185600 |
|  |  | 7832590 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 174362134 |
|  **Energy (1.3%)** |  |  |
|  ***Energy Equipment & Services (0.7%)*** |  |  |
|  Innovex International, Inc.\* | 790000 | 14646600 |
|  KLX Energy Services Holdings, Inc.(x)\* | 35000 | 67200 |
|  Oceaneering International, Inc.\* | 185000 | 4584300 |
|  RPC, Inc.(x) | 1450000 | 6902000 |
|  |  | 26200100 |
|  ***Oil, Gas & Consumable Fuels (0.6%)*** |  |  |
|  APA Corp. | 67200 | 1631616 |
|  CNX Resources Corp.(x)\* | 190000 | 6102800 |
|  Navigator Holdings Ltd. | 405000 | 6273450 |
|  ONEOK, Inc. | 133000 | 9705010 |
|  |  | 23712876 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 49912976 |
|  **Financials (3.1%)** |  |  |
|  ***Banks (1.6%)*** |  |  |
|  Ameris Bancorp | 33300 | 2441223 |
|  Atlantic Union Bankshares Corp. | 148000 | 5222920 |
|  Cadence Bank | 43000 | 1614220 |
|  Capital City Bank Group, Inc. | 4700 | 196413 |
|  Capitol Federal Financial, Inc. | 39500 | 250825 |
|  Colony Bankcorp, Inc. | 12800 | 217728 |
|  Eagle Bancorp, Inc. | 184000 | 3720480 |
|  Farmers & Merchants Bank of Long Beach(x) | 105 | 749700 |
|  FB Financial Corp. | 12000 | 668880 |
|  First Bancorp (Nasdaq Stock Exchange) | 10000 | 528900 |
|  First Bancorp (New York Stock Exchange) | 84000 | 1852200 |
|  First Busey Corp. | 28500 | 659775 |
|  First Horizon Corp. | 93500 | 2114035 |
|  Flushing Financial Corp. | 655000 | 9045550 |
|  FNB Corp. | 46000 | 741060 |
|  Hanover Bancorp, Inc. | 5000 | 112250 |
|  HomeTrust Bancshares, Inc. | 5000 | 204700 |
|  Hope Bancorp, Inc. | 570000 | 6138900 |
|  Huntington Bancshares, Inc. | 250000 | 4317500 |
|  OceanFirst Financial Corp. | 120000 | 2108400 |
|  Peapack-Gladstone Financial Corp. | 38000 | 1048800 |
|  Renasant Corp. | 22000 | 811580 |
|  Seacoast Banking Corp. of Florida | 37000 | 1125910 |
|  ServisFirst Bancshares, Inc. | 26000 | 2093780 |
|  Southern First Bancshares, Inc.\* | 20000 | 882400 |
|  SouthState Bank Corp. | 18200 | 1799434 |
|  Synovus Financial Corp. | 74000 | 3631920 |
|  Thomasville Bancshares, Inc. | 16100 | 1423240 |
|  Towne Bank | 11000 | 380270 |
|  Trustmark Corp. | 12000 | 475200 |
|  United Community Banks, Inc. | 23000 | 721050 |
|  USCB Financial Holdings, Inc. | 8000 | 139600 |
|  Webster Financial Corp. | 43200 | 2567808 |
|  |  | 60006651 |
|  ***Capital Markets (1.4%)*** |  |  |
|  BKF Capital Group, Inc.(r)\* | 12800 | 371200 |
|  Charles Schwab Corp. (The) | 25000 | 2386750 |
|  Cohen & Steers, Inc. | 215500 | 14138955 |
|  Federated Hermes, Inc., Class B | 78000 | 4050540 |
|  GAM Holding AG(x)\* | 1500000 | 278877 |
|  Janus Henderson Group plc | 244000 | 10860440 |
|  KKR & Co., Inc. | 147000 | 19102650 |
|  PJT Partners, Inc., Class A | 3500 | 622055 |
|  |  | 51811467 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT GAMCO SMALL COMPANY VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  ***Consumer Finance (0.1%)*** |  |  |
|  Medallion Financial Corp. | 160000 | $1616000 |
|  PROG Holdings, Inc. | 74000 | 2394640 |
|  |  | 4010640 |
|  ***Financial Services (0.0%)†*** |  |  |
|  Crazy Woman Creek Bancorp, Inc. | 6100 | 173850 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 116002608 |
|  **Health Care (2.1%)** |  |  |
|  ***Biotechnology (0.0%)†*** |  |  |
|  GRAIL, Inc.(x)\* | 20500 | 1212165 |
|  ***Health Care Equipment & Supplies (1.8%)*** |  |  |
|  Align Technology, Inc.\* | 300 | 37566 |
|  CONMED Corp. | 57000 | 2680710 |
|  Cooper Cos., Inc. (The)\* | 44000 | 3016640 |
|  Dexcom, Inc.\* | 52000 | 3499080 |
|  Electromed, Inc.\* | 142000 | 3486100 |
|  Globus Medical, Inc., Class A\* | 111500 | 6385605 |
|  ICU Medical, Inc.\* | 21000 | 2519160 |
|  Masimo Corp.\* | 83800 | 12364690 |
|  Neogen Corp.\* | 66000 | 376860 |
|  Neuronetics, Inc.(x)\* | 75000 | 204750 |
|  Orthofix Medical, Inc.\* | 155000 | 2269200 |
|  QuidelOrtho Corp.\* | 161000 | 4741450 |
|  STERIS plc | 84000 | 20784960 |
|  Surmodics, Inc.\* | 30000 | 896700 |
|  Zimvie, Inc.(x)\* | 310000 | 5871400 |
|  |  | 69134871 |
|  ***Health Care Providers & Services (0.1%)*** |  |  |
|  Chemed Corp. | 1200 | 537288 |
|  Henry Schein, Inc.\* | 20000 | 1327400 |
|  NeoGenomics, Inc.\* | 16000 | 123520 |
|  OPKO Health, Inc.\* | 175000 | 271250 |
|  |  | 2259458 |
|  ***Health Care Technology (0.0%)†*** |  |  |
|  Evolent Health, Inc., Class A\* | 145000 | 1226700 |
|  ***Life Sciences Tools & Services (0.2%)*** |  |  |
|  Bio-Rad Laboratories, Inc., Class A\* | 20000 | 5607800 |
|  Lifecore Biomedical, Inc.\* | 78500 | 577760 |
|  |  | 6185560 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 80018754 |
|  **Industrials (45.6%)** |  |  |
|  ***Aerospace & Defense (6.2%)*** |  |  |
|  AAR Corp.\* | 113000 | 10132710 |
|  Astronics Corp.\* | 11000 | 501710 |
|  Astronics Corp., Class B(x)\* | 52000 | 2369640 |
|  ATI, Inc.\* | 390000 | 31722600 |
|  Curtiss-Wright Corp. | 97500 | 52936650 |
|  Ducommun, Inc.\* | 143800 | 13823494 |
|  HEICO Corp. | 120700 | 38964374 |
|  HEICO Corp., Class A | 3200 | 813088 |
|  Innovative Solutions and Support, Inc.\* | 127000 | 1586230 |
|  Moog, Inc., Class A | 66600 | 13830822 |
|  Moog, Inc., Class B | 34221 | 7106675 |
|  National Presto Industries, Inc. | 30000 | 3364500 |
|  Park Aerospace Corp. | 684000 | 13912560 |
|  Textron, Inc. | 283000 | 23910670 |
|  Woodward, Inc. | 72000 | 18195120 |
|  |  | 233170843 |
|  ***Building Products (1.8%)*** |  |  |
|  A.O. Smith Corp. | 70500 | 5175405 |
|  AZZ, Inc. | 174000 | 18988620 |
|  Burnham Holdings, Inc., Class A | 50900 | 1259775 |
|  Fortune Brands Innovations, Inc. | 8800 | 469832 |
|  Gibraltar Industries, Inc.\* | 59000 | 3705200 |
|  Griffon Corp. | 359000 | 27337850 |
|  Johnson Controls International plc | 102000 | 11214900 |
|  |  | 68151582 |
|  ***Commercial Services & Supplies (4.4%)*** |  |  |
|  ACCO Brands Corp. | 150000 | 598500 |
|  Casella Waste Systems, Inc., Class A\* | 97500 | 9250800 |
|  Loomis AB, Class B | 192000 | 8190347 |
|  OPENLANE, Inc.\* | 432000 | 12432960 |
|  Pitney Bowes, Inc.(x) | 264000 | 3012240 |
|  RB Global, Inc. | 56000 | 6068160 |
|  Republic Services, Inc. | 288400 | 66182032 |
|  Rollins, Inc. | 1005000 | 59033700 |
|  |  | 164768739 |
|  ***Construction & Engineering (0.4%)*** |  |  |
|  Arcosa, Inc. | 87500 | 8199625 |
|  Centuri Holdings, Inc.\* | 128000 | 2709760 |
|  Granite Construction, Inc.(x) | 15000 | 1644750 |
|  Valmont Industries, Inc. | 9500 | 3683435 |
|  |  | 16237570 |
|  ***Electrical Equipment (2.6%)*** |  |  |
|  Allient, Inc. | 174000 | 7786500 |
|  AMETEK, Inc. | 324300 | 60968400 |
|  Rockwell Automation, Inc. | 83500 | 29185755 |
|  |  | 97940655 |
|  ***Ground Transportation (0.1%)*** |  |  |
|  Hertz Global Holdings, Inc.(x)\* | 325000 | 2210000 |
|  ***Machinery (22.3%)*** |  |  |
|  Aebi Schmidt Holding AG | 235000 | 2930450 |
|  Albany International Corp., Class A | 80000 | 4264000 |
|  Astec Industries, Inc. | 654000 | 31477020 |
|  Blue Bird Corp.\* | 35500 | 2043025 |
|  Chart Industries, Inc.\* | 114000 | 22817100 |
|  CNH Industrial NV | 2680000 | 29078000 |
|  Commercial Vehicle Group, Inc.\* | 155000 | 263500 |
|  Crane Co. | 516000 | 95016240 |
|  Donaldson Co., Inc. | 205500 | 16820175 |
|  Eastern Co. (The) | 279000 | 6545340 |
|  Enerpac Tool Group Corp., Class A | 132500 | 5432500 |
|  Enpro, Inc. | 194000 | 43844000 |
|  Federal Signal Corp. | 306500 | 36470435 |
|  Flowserve Corp. | 103000 | 5473420 |
|  Franklin Electric Co., Inc. | 241000 | 22943200 |
|  Gencor Industries, Inc.\* | 185000 | 2706550 |
|  Gorman-Rupp Co. (The) | 485000 | 22508850 |
|  Graco, Inc. | 385500 | 32752080 |
|  Graham Corp.\* | 79000 | 4337100 |
|  Greenbrier Cos., Inc. (The) | 144000 | 6648480 |
|  Hyster-Yale, Inc. | 297000 | 10947420 |
|  IDEX Corp. | 83500 | 13590460 |
|  Interpump Group SpA | 200000 | 9152894 |
|  Iveco Group NV | 618000 | 13317707 |
|  Kennametal, Inc. | 212000 | 4437160 |
|  L B Foster Co., Class A\*‡ | 550000 | 14822500 |
|  Lincoln Electric Holdings, Inc. | 89500 | 21106785 |
|  Lindsay Corp. | 54500 | 7660520 |
|  Manitowoc Co., Inc. (The)\* | 270000 | 2702700 |
|  Middleby Corp. (The)\* | 4800 | 638064 |
|  Mueller Industries, Inc. | 1400000 | 141554000 |
|  Mueller Water Products, Inc., Class A | 1307100 | 33357192 |
|  Nordson Corp. | 38200 | 8669490 |
|  Park-Ohio Holdings Corp. | 586000 | 12446640 |
|  Standex International Corp. | 74000 | 15680600 |
|  Stratasys Ltd.(x)\* | 50000 | 560000 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT GAMCO SMALL COMPANY VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Tennant Co. | 400000 | $32424000 |
|  Titan International, Inc.\* | 65000 | 491400 |
|  Toro Co. (The) | 47000 | 3581400 |
|  Trinity Industries, Inc. | 633000 | 17749320 |
|  Twin Disc, Inc. | 692000 | 9646480 |
|  Watts Water Technologies, Inc., Class A | 240800 | 67250624 |
|  |  | 836158821 |
|  ***Trading Companies & Distributors (7.8%)*** |  |  |
|  Distribution Solutions Group, Inc.\* | 213000 | 6407040 |
|  GATX Corp. | 733000 | 128128400 |
|  Herc Holdings, Inc. | 548800 | 64023008 |
|  McGrath RentCorp | 24000 | 2815200 |
|  Rush Enterprises, Inc., Class B‡ | 1054500 | 60549390 |
|  Titan Machinery, Inc.(x)\* | 257000 | 4302180 |
|  United Rentals, Inc. | 26500 | 25298490 |
|  |  | 291523708 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 1710161918 |
|  **Information Technology (3.9%)** |  |  |
|  ***Communications Equipment (0.0%)†*** |  |  |
|  Applied Optoelectronics, Inc.(x)\* | 28500 | 739005 |
|  ***Electronic Equipment, Instruments & Components (2.7%)*** |  |  |
|  Badger Meter, Inc. | 85000 | 15179300 |
|  Bel Fuse, Inc., Class A‡ | 71600 | 8330660 |
|  Crane NXT Co. | 30000 | 2012100 |
|  CTS Corp. | 971500 | 38801710 |
|  Daktronics, Inc.\* | 183700 | 3843004 |
|  Itron, Inc.\* | 51500 | 6414840 |
|  Landis+Gyr Group AG | 30500 | 2459770 |
|  Littelfuse, Inc. | 35000 | 9065350 |
|  Napco Security Technologies, Inc. | 180000 | 7731000 |
|  Rogers Corp.\* | 81500 | 6557490 |
|  Trans-Lux Corp.(r)\* | 120060 | 30015 |
|  |  | 100425239 |
|  ***IT Services (0.0%)†*** |  |  |
|  Alithya Group, Inc., Class A(x)\* | 770000 | 970200 |
|  ***Software (1.1%)*** |  |  |
|  Fortinet, Inc.\* | 101200 | 8508896 |
|  Roper Technologies, Inc. | 26200 | 13065678 |
|  Tyler Technologies, Inc.\* | 36000 | 18833760 |
|  |  | 40408334 |
|  ***Technology Hardware, Storage & Peripherals (0.1%)*** |  |  |
|  TransAct Technologies, Inc.\* | 145000 | 785900 |
|  Xerox Holdings Corp. | 330000 | 1240800 |
|  |  | 2026700 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 144569478 |
|  **Materials (4.9%)** |  |  |
|  ***Chemicals (2.4%)*** |  |  |
|  Ashland, Inc. | 57500 | 2754825 |
|  Core Molding Technologies, Inc.\* | 304500 | 6257475 |
|  Element Solutions, Inc. | 67000 | 1686390 |
|  FMC Corp. | 18400 | 618792 |
|  Hawkins, Inc. | 44500 | 8131040 |
|  HB Fuller Co. | 329000 | 19503120 |
|  Huntsman Corp. | 235000 | 2110300 |
|  Mativ Holdings, Inc. | 58000 | 655980 |
|  Minerals Technologies, Inc. | 225000 | 13977000 |
|  NewMarket Corp. | 14500 | 12009045 |
|  Olin Corp. | 115000 | 2873850 |
|  Quaker Chemical Corp. | 4700 | 619225 |
|  Scotts Miracle-Gro Co. (The) | 77000 | 4385150 |
|  Sensient Technologies Corp. | 154100 | 14462285 |
|  Takasago International Corp.(x) | 142500 | 1559083 |
|  |  | 91603560 |
|  ***Containers & Packaging (1.3%)*** |  |  |
|  Ardagh Metal Packaging SA | 200000 | 798000 |
|  Greif, Inc., Class A | 208500 | 12459960 |
|  Myers Industries, Inc. | 1735000 | 29390900 |
|  Sonoco Products Co. | 155000 | 6678950 |
|  |  | 49327810 |
|  ***Metals & Mining (1.2%)*** |  |  |
|  Ampco-Pittsburgh Corp.\*‡ | 970000 | 2221300 |
|  Barrick Mining Corp. | 24000 | 786480 |
|  Kinross Gold Corp. | 45000 | 1118250 |
|  Materion Corp. | 181200 | 21890772 |
|  Metallus, Inc.\* | 210000 | 3471300 |
|  Tredegar Corp.\* | 1665000 | 13369950 |
|  |  | 42858052 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 183789422 |
|  **Real Estate (2.3%)** |  |  |
|  ***Hotel & Resort REITs (1.2%)*** |  |  |
|  Ryman Hospitality Properties, Inc. (REIT) | 514500 | 46094055 |
|  ***Real Estate Management & Development (1.0%)*** |  |  |
|  Capital Properties, Inc., Class A | 85000 | 909500 |
|  Gyrodyne LLC\* | 14411 | 144254 |
|  Seritage Growth Properties, Class A(x)\* | 134500 | 571625 |
|  St Joe Co. (The) | 551000 | 27263480 |
|  Tejon Ranch Co.\* | 552000 | 8820960 |
|  |  | 37709819 |
|  ***Specialized REITs (0.1%)*** |  |  |
|  Millrose Properties, Inc. (REIT) | 49800 | 1673778 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 85477652 |
|  **Utilities (4.8%)** |  |  |
|  ***Electric Utilities (1.7%)*** |  |  |
|  Evergy, Inc. | 146000 | 11098920 |
|  Hawaiian Electric Industries, Inc.\* | 120000 | 1324800 |
|  Otter Tail Corp. | 224500 | 18402265 |
|  TXNM Energy, Inc. | 556000 | 31441800 |
|  |  | 62267785 |
|  ***Gas Utilities (2.0%)*** |  |  |
|  Chesapeake Utilities Corp. | 5600 | 754264 |
|  National Fuel Gas Co. | 185500 | 17134635 |
|  Northwest Natural Holding Co. | 363000 | 16309590 |
|  ONE Gas, Inc. | 33500 | 2711490 |
|  RGC Resources, Inc. | 378900 | 8502516 |
|  Southwest Gas Holdings, Inc. | 397000 | 31100980 |
|  |  | 76513475 |
|  ***Independent Power and Renewable Electricity Producers (0.3%)*** |  |  |
|  AES Corp. (The) | 240000 | 3158400 |
|  Ormat Technologies, Inc. | 82700 | 7959875 |
|  XPLR Infrastructure LP | 82000 | 833940 |
|  |  | 11952215 |
|  ***Multi-Utilities (0.7%)*** |  |  |
|  Black Hills Corp. | 172500 | 10624275 |
|  Northwestern Energy Group, Inc. | 264000 | 15473040 |
|  |  | 26097315 |
|  ***Water Utilities (0.1%)*** |  |  |
|  Cadiz, Inc.\* | 8500 | 40120 |
|  H2O America | 47500 | 2313250 |
|  York Water Co. (The) | 43500 | 1323270 |
|  |  | 3676640 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 180507430 |
|  **Total Common Stocks (98.6%)**<br> *(Cost $1,263,753,903)* |  | 3698695801 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT GAMCO SMALL COMPANY VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Industrials (0.0%)†** |  |  |
|  ***Electrical Equipment (0.0%)†*** |  |  |
|  Pineapple Energy, Inc., CVR(r)(x)\* | 115000 | $90988 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 90988 |
|  **Materials (0.0%)†** |  |  |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Resolute Forest Products, Inc., CVR\* | 100000 | 150000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 150000 |
|  **Total Rights (0.0%)†<br>(***Cost $106,500***)** |  | 240988 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.3%)** |  |  |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 1000000 | 1000000 |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 3000000 | 3000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 6823440 | 6823440 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 10823440 |
|  **Total Short-Term Investments (0.3%)**<br> *(Cost $10,823,440)* |  | 10823440 |
|  **Total Investments in Securities (98.9%)**<br> *(Cost $1,274,683,843)* |  | 3709760229 |
|  **Other Assets Less Liabilities (1.1%)** |  | 41343140 |
|  **Net Assets (100%)** |  | $3751103369 |

---

*\** *Non-income producing.* 

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

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

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $55,474,030. This was collateralized by $47,315,057 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.000%, maturing 10/9/25 – 5/15/55 and by cash of $10,823,440 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*CVR — Contingent Value Right* 

*REIT — Real Estate Investment Trust* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT GAMCO SMALL COMPANY VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September<br>30, 2025** | **Market Value<br>December 31,<br>2024($)** | **Purchases at<br>Cost ($)** | **Proceeds<br>from**<br>**Sales ($)** | **Net<br>Realized<br>Gain (Loss)**<br>**($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025($)** | **Dividend/<br>Interest<br>Income**<br>**($)** | **Capital Gain<br>Distributions<br>($)** |
|  COMMON STOCKS: |  |  |  |  |  |  |  |  |  |
|  **Communication Services** |  |  |  |  |  |  |  |  |  |
|  **Media** |  |  |  |  |  |  |  |  |  |
|  Beasley Broadcast Group, Inc., Class A (x)\*,\*\* | 30000 | 298816 | 75764 | (96791) | (241029) | 125240 | 162000 |  |  |
|  **Consumer Discretionary** |  |  |  |  |  |  |  |  |  |
|  **Automobile Components** |  |  |  |  |  |  |  |  |  |
|  Strattec Security Corp. \* | 229000 | 9640800 |  | (329671) | 73263 | 6201348 | 15585740 |  |  |
|  **Hotels, Restaurants & Leisure** |  |  |  |  |  |  |  |  |  |
|  Biglari Holdings, Inc., Class A \* | 10275 | 14279888 |  | (1248436) | 371984 | 2471439 | 15874875 |  |  |
|  Canterbury Park Holding Corp. | 319000 | 6702190 |  |  |  | (1540770) | 5161420 | 66990 |  |
|  Nathan's Famous, Inc. | 205500 | 16350880 |  | (275109) | 85257 | 6596042 | 22757070 | 310600 |  |
|  **Household Durables** |  |  |  |  |  |  |  |  |  |
|  Nobility Homes, Inc. | 214800 | 6840900 | 212605 |  |  | (609505) | 6444000 | 259125 |  |
|  **Consumer Staples** |  |  |  |  |  |  |  |  |  |
|  **Consumer Staples Distribution & Retail** |  |  |  |  |  |  |  |  |  |
|  Ingles Markets, Inc., Class A | 464000 | 29964600 |  | (67205) | (1695) | 2380140 | 32275840 | 230175 |  |
|  **Household Products** |  |  |  |  |  |  |  |  |  |
|  Oil-Dri Corp. of America | 728000 | 32382980 |  | (578495) | 485270 | 12147365 | 44437120 | 359686 |  |
|  **Industrials** |  |  |  |  |  |  |  |  |  |
|  **Machinery** |  |  |  |  |  |  |  |  |  |
|  L B Foster Co., Class A \* | 550000 | 14795000 |  |  |  | 27500 | 14822500 |  |  |
|  **Trading Companies & Distributors** |  |  |  |  |  |  |  |  |  |
|  Rush Enterprises, Inc., Class B | 1054500 | 57760840 |  | (368457) | 324611 | 2832396 | 60549390 | 581566 |  |
|  **Information Technology** |  |  |  |  |  |  |  |  |  |
|  **Electronic Equipment, Instruments & Components** |  |  |  |  |  |  |  |  |  |
|  Bel Fuse, Inc., Class A | 71600 | 8107200 |  | (1666806) | 1301495 | 588771 | 8330660 | 14562 |  |
|  **Materials** |  |  |  |  |  |  |  |  |  |
|  **Metals & Mining** |  |  |  |  |  |  |  |  |  |
|  Ampco-Pittsburgh Corp. \* | 970000 | 2044020 | 3697 | (29329) | 536 | 202376 | 2221300 |  |  |
|  **Total** |  | **199168114** | **292066** | **(4660299)** | **2399692** | **31422342** | **228621915** | **1822704** |  |

---

*\** *Non-income producing.* 

*\*\** *Not affiliated at September 30, 2025.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT GAMCO SMALL COMPANY VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $324911370 | $3772653 | $— | $328684023 |
|  Consumer Discretionary | 619647720 | 25561686 |  | 645209406 |
|  Consumer Staples | 169260214 | 5101920 |  | 174362134 |
|  Energy | 49912976 |  |  | 49912976 |
|  Financials | 113005741 | 2625667 | 371200 | 116002608 |
|  Health Care | 80018754 |  |  | 80018754 |
|  Industrials | 1668764880 | 41397038 |  | 1710161918 |
|  Information Technology | 142079693 | 2459770 | 30015 | 144569478 |
|  Materials | 182230339 | 1559083 |  | 183789422 |
|  Real Estate | 84568152 | 909500 |  | 85477652 |
|  Utilities | 180507430 |  |  | 180507430 |
|  **Rights** |  |  |  |  |
|  Industrials |  |  | 90988 | 90988 |
|  Materials |  | 150000 |  | 150000 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 10823440 |  |  | 10823440 |
|  **Total Assets** | $**3625730709** | $**83537317** | $**492203** | $**3709760229** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**3625730709** | $**83537317** | $**492203** | $**3709760229** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $2581039833 |
|  Aggregate gross unrealized depreciation | (150383128) |
|  Net unrealized appreciation | $2430656705 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1279103524 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT HIGH YIELD BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Corporate Bonds (80.1%)** |  |  |
|  **Communication Services (7.8%)** |  |  |
|  ***Diversified Telecommunication Services (2.8%)*** |  |  |
|  CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5/1/26§ | $150000 | $149342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/1/28§ | 225000 | 222188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 9/1/29(x)§ | 494000 | 500239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 3/1/30§ | 300000 | 287511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/1/32§ | 619000 | 571213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/1/32(x) | 679000 | 616905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 6/1/33(x)§ | 748000 | 663850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/15/34(x)§ | 775000 | 668515 |
|  Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/1/30§ | 274000 | 250151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 6/30/33§ | 606500 | 617563 |
|  Virgin Media Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/15/30§ | 400000 | 370716 |
|  Virgin Media Secured Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5/15/29§ | 1175000 | 1158750 |
|  Windstream Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 10/1/31§ | 343000 | 354929 |
|  Zayo Group Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/9/30 PIK(k)(x)§ | 581679 | 558404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 9/9/30 PIK(k)§ | 267209 | 253166 |
|  |  | 7243442 |
|  ***Entertainment (1.3%)*** |  |  |
|  Cinemark USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 7/15/28§ | 1650000 | 1638648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 8/1/32§ | 175000 | 181764 |
|  Live Nation Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 5/15/27(x)§ | 282000 | 284335 |
|  Playtika Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 3/15/29§ | 1300000 | 1192750 |
|  |  | 3297497 |
|  ***Media (3.7%)*** |  |  |
|  CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 4/1/28§ | 250000 | 180937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.750%, 1/31/29§ | 524000 | 442125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 2/1/29(x)§ | 250000 | 184688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/31§ | 300000 | 195000 |
|  DISH Network Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.750%, 11/15/27§ | 725000 | 767594 |
|  Gray Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 7/15/29(x)§ | 149000 | 160848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 10/15/30(x)§ | 645000 | 495038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 7/15/32§ | 230000 | 234887 |
|  McGraw-Hill Education, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 8/1/29§ | 604000 | 614498 |
|  Neptune Bidco US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.290%, 4/15/29§ | 807000 | 790868 |
|  Nexstar Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 7/15/27§ | 326000 | 325185 |
|  Outfront Media Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/15/27§ | 1230000 | 1223112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/15/29§ | 850000 | 816026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 3/15/30(x)§ | 250000 | 240337 |
|  Sinclair Television Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/1/30§ | 304000 | 255983 |
|  Sirius XM Radio LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 9/1/26§ | 394000 | 389036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/15/28§ | 475000 | 458460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 7/1/30§ | 75000 | 70268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 9/1/31(x)§ | 676000 | 612625 |
|  Stagwell Global LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 8/15/29§ | 571000 | 554401 |
|  Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 7/31/31§ | 692000 | 713625 |
|  |  | 9725541 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 20266480 |
|  **Consumer Discretionary (14.6%)** |  |  |
|  ***Automobile Components (2.0%)*** |  |  |
|  Clarios Global LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 5/15/28§ | 744000 | 759765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 2/15/30§ | 1040000 | 1075901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 9/15/32§ | 576000 | 588712 |
|  Forvia SE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 6/15/30§ | 399000 | 421120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 9/15/33§ | 200000 | 202700 |
|  Icahn Enterprises LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 1/15/29 | 125000 | 125781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 2/1/29(x) | 550000 | 472984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 6/15/30 | 525000 | 506625 |
|  IHO Verwaltungs GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 11/15/32 PIK§ | 575000 | 605228 |
|  ZF North America Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 3/24/31§ | 295000 | 292956 |
|  |  | 5051772 |
|  ***Broadline Retail (0.3%)*** |  |  |
|  Getty Images, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 3/1/27§ | 858000 | 815400 |
|  ***Distributors (0.9%)*** |  |  |
|  RB Global Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 3/15/28§ | 533000 | 543575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 3/15/31§ | 689000 | 720370 |
|  Resideo Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 7/15/32§ | 274000 | 281037 |
|  Velocity Vehicle Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 6/1/29(x)§ | 214000 | 214781 |
|  Windsor Holdings III LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 6/15/30§ | 542000 | 573685 |
|  |  | 2333448 |
|  ***Diversified Consumer Services (1.3%)*** |  |  |
|  Champions Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 2/15/29(x)§ | 625000 | 603375 |
|  Matthews International Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 10/1/27§ | 391000 | 404196 |
|  Service Corp. International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/15/32 | 289000 | 292809 |
|  Sotheby's |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 10/15/27§ | 1350000 | 1350189 |
|  Wand NewCo 3, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 1/30/32§ | 601000 | 633332 |
|  |  | 3283901 |
|  ***Hotels, Restaurants & Leisure (6.8%)*** |  |  |
|  1011778 BC ULC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 1/15/28§ | 420000 | 410020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 9/15/29§ | 437000 | 441916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/30§ | 700000 | 658875 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT HIGH YIELD BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Boyd Gaming Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/15/31§ | $250000 | $240276 |
|  Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/29(x)§ | 300000 | 286500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 2/15/30§ | 2535000 | 2604712 |
|  Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 8/15/29§ | 884000 | 929305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 8/1/32§ | 504000 | 512684 |
|  Churchill Downs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 4/1/30§ | 526000 | 525343 |
|  Flutter Treasury DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 4/29/29§ | 249000 | 256495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 6/4/31§ | 311000 | 315718 |
|  Great Canadian Gaming Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 11/15/29§ | 463000 | 457199 |
|  Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 5/1/28§ | 172000 | 171952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 3/15/33§ | 263000 | 267602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 9/15/33§ | 187000 | 189489 |
|  Kingpin Intermediate Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 10/15/32(x)§ | 334000 | 318553 |
|  Light & Wonder International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 9/1/31§ | 300000 | 311886 |
|  Lindblad Expeditions LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 9/15/30§ | 259000 | 263781 |
|  Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 3/15/35 | 576000 | 588357 |
|  NCL Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 2/1/32§ | 840000 | 862403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 9/15/33§ | 404000 | 406290 |
|  Ontario Gaming GTA LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 8/1/30(x)§ | 525000 | 521204 |
|  Raising Cane's Restaurants LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.375%, 5/1/29§ | 100000 | 105000 |
|  Rivers Enterprise Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 2/1/33§ | 850000 | 864459 |
|  Royal Caribbean Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 7/15/27§ | 371000 | 374296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/1/33§ | 460000 | 471769 |
|  Sabre GLBL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.125%, 7/15/30§ | 361000 | 349610 |
|  Scientific Games Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 3/1/30§ | 350000 | 325182 |
|  Six Flags Entertainment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 5/1/32(x)§ | 463000 | 471149 |
|  Station Casinos LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/15/28§ | 300000 | 294753 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/1/31(x)§ | 1319000 | 1243982 |
|  Voyager Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 7/1/32§ | 1284000 | 1357830 |
|  Wyndham Hotels & Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/15/28(x)§ | 294000 | 287079 |
|  |  | 17685669 |
|  ***Household Durables (0.5%)*** |  |  |
|  Century Communities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 9/15/33§ | 235000 | 237056 |
|  Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 6/1/28§ | 276000 | 292406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 5/15/32(x) | 406000 | 400247 |
|  Whirlpool Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 6/15/33 | 407000 | 405852 |
|  |  | 1335561 |
|  ***Specialty Retail (1.9%)*** |  |  |
|  EG Global Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 12.000%, 11/30/28§ | 614000 | 673454 |
|  Global Auto Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 1/15/29§ | 474000 | 463880 |
|  LBM Acquisition LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 1/15/29§ | 401000 | 370925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 6/15/31§ | 298000 | 312560 |
|  LCM Investments Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 8/1/31§ | 425000 | 449438 |
|  Lithia Motors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 1/15/31§ | 250000 | 237167 |
|  Park River Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 3/15/31§ | 247000 | 250132 |
|  Upbound Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 2/15/29§ | 750000 | 740820 |
|  Victra Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 9/15/29(x)§ | 850000 | 893758 |
|  White Cap Buyer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 10/15/28(x)§ | 391000 | 390394 |
|  |  | 4782528 |
|  ***Textiles, Apparel & Luxury Goods (0.9%)*** |  |  |
|  Beach Acquisition Bidco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 7/15/33 PIK§ | 825000 | 891000 |
|  Champ Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 12/1/31§ | 274000 | 291747 |
|  Crocs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 8/15/31(x)§ | 272000 | 249220 |
|  Hanesbrands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 2/15/31§ | 464000 | 489955 |
|  S&S Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 10/1/31§ | 515000 | 502769 |
|  |  | 2424691 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 37712970 |
|  **Consumer Staples (3.4%)** |  |  |
|  ***Beverages (0.1%)*** |  |  |
|  Primo Water Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 4/30/29(x)§ | 355000 | 345206 |
|  ***Consumer Staples Distribution & Retail (0.7%)*** |  |  |
|  Performance Food Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/15/27§ | 275000 | 274654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 9/15/32§ | 577000 | 590963 |
|  US Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 6/1/30§ | 481000 | 470673 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 1/15/32§ | 356000 | 372586 |
|  |  | 1708876 |
|  ***Food Products (2.3%)*** |  |  |
|  Chobani LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 7/1/29(x)§ | 50000 | 52042 |
|  Darling Ingredients, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/15/30§ | 720000 | 726300 |
|  Fiesta Purchaser, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 3/1/31§ | 244000 | 256859 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 9/15/32(x)§ | 330000 | 355987 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT HIGH YIELD BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Froneri Lux FinCo. Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 8/1/32§ | EUR 625,000 | $740202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/1/32§ | $1056000 | 1052388 |
|  Lamb Weston Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 1/31/32§ | 225000 | 212434 |
|  Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/15/29§ | 118000 | 117484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/15/30§ | 325000 | 313336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/15/31§ | 738000 | 688731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 2/15/32§ | 190000 | 195054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/15/34(x)§ | 324000 | 327302 |
|  Simmons Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 3/1/29§ | 186000 | 178346 |
|  Viking Baked Goods Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 11/1/31§ | 775000 | 776860 |
|  |  | 5993325 |
|  ***Household Products (0.1%)*** |  |  |
|  Energizer Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/15/28§ | 396000 | 387090 |
|  ***Personal Care Products (0.2%)*** |  |  |
|  Opal Bidco SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 3/31/32§ | 200000 | 205034 |
|  Prestige Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/1/31§ | 310000 | 285587 |
|  |  | 490621 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 8925118 |
|  **Energy (8.0%)** |  |  |
|  ***Energy Equipment & Services (0.9%)*** |  |  |
|  Aris Water Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 4/1/30(x)§ | 584000 | 616120 |
|  Transocean International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 2/15/30§ | 237750 | 249935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 4/15/31 | 575000 | 529719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 5/15/31§ | 230000 | 225400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.800%, 3/15/38 | 275000 | 232743 |
|  WBI Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/15/33§ | 395000 | 394013 |
|  |  | 2247930 |
|  ***Oil, Gas & Consumable Fuels (7.1%)*** |  |  |
|  Ascent Resources Utica Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 10/15/32§ | 228000 | 232560 |
|  Blue Racer Midstream LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 7/15/26§ | 304000 | 303930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 7/15/32§ | 503000 | 528226 |
|  Buckeye Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 11/15/43 | 125000 | 116727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 10/15/44 | 75000 | 68096 |
|  CNX Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 4/15/30(x)§ | 700000 | 670250 |
|  Comstock Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 3/1/29§ | 275000 | 274590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 1/15/30§ | 800000 | 770000 |
|  Crescent Energy Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 4/1/32§ | 588000 | 584584 |
|  Delek Logistics Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 3/15/29§ | 645000 | 672464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 6/30/33§ | 230000 | 233160 |
|  Genesis Energy LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 2/1/28 | 669000 | 673375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 1/15/29 | 150000 | 156135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 4/15/30(x) | 200000 | 211622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 5/15/32 | 643000 | 670392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 5/15/33 | 150000 | 156795 |
|  Harvest Midstream I LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 5/15/32§ | 300000 | 307227 |
|  Hilcorp Energy I LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 4/15/32§ | 250000 | 240690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 11/1/33§ | 175000 | 183750 |
|  Kinder Morgan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 2/1/33 | 367000 | 366169 |
|  Kinetik Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 6/15/30§ | 597000 | 600540 |
|  Matador Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 4/15/33§ | 575000 | 577990 |
|  MEG Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 2/1/29§ | 325000 | 324594 |
|  NGL Energy Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 2/15/32§ | 777000 | 795454 |
|  Northern Oil & Gas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 10/15/33§ | 342000 | 340615 |
|  NuStar Logistics LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/1/26 | 250000 | 250465 |
|  Permian Resources Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 7/1/29§ | 252000 | 251390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 2/1/33(x)§ | 312000 | 317819 |
|  Prairie Acquiror LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 8/1/29(x)§ | 675000 | 701798 |
|  SM Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 8/1/32§ | 350000 | 350000 |
|  Summit Midstream Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 10/31/29§ | 933000 | 937068 |
|  Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 5/1/32§ | 326000 | 341912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7/1/33§ | 324000 | 329518 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 3/15/34§ | 1125000 | 1115437 |
|  Tallgrass Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 9/1/31§ | 150000 | 146802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 3/15/34§ | 375000 | 371606 |
|  Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 1/15/30(x)§ | 150000 | 155250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 6/1/31§ | 850000 | 891480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.875%, 2/1/32(x)§ | 450000 | 488109 |
|  Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 5/1/35§ | 400000 | 451500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 1/15/36§ | 300000 | 318090 |
|  Wildfire Intermediate Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 10/15/29§ | 925000 | 935406 |
|  |  | 18413585 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 20661515 |
|  **Financials (11.7%)** |  |  |
|  ***Banks (0.2%)*** |  |  |
|  Armor Holdco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 11/15/29§ | 617000 | 612366 |
|  ***Capital Markets (1.1%)*** |  |  |
|  Aretec Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 8/15/30§ | 231000 | 251647 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT HIGH YIELD BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  HAT Holdings I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 9/15/30§ | $625000 | $575803 |
|  MSCI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 8/15/33§ | 802000 | 716586 |
|  Osaic Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 8/1/32§ | 156000 | 160782 |
|  Stonex Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 7/15/32§ | 725000 | 742219 |
|  StoneX Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 3/1/31§ | 400000 | 420000 |
|  |  | 2867037 |
|  ***Consumer Finance (3.3%)*** |  |  |
|  Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 2/14/33(x) | 925000 | 963931 |
|  Azorra Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 4/15/30§ | 1075000 | 1127406 |
|  Bread Financial Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 3/15/29(x)§ | 647000 | 690672 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.30%), 8.375%, 6/15/35(k)§ | 500000 | 512905 |
|  Credit Acceptance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 12/15/28§ | 800000 | 840500 |
|  Enova International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 8/1/29§ | 499000 | 525198 |
|  GGAM Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 2/15/27§ | 224000 | 229320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 6/15/28§ | 414000 | 438654 |
|  goeasy Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 5/15/30§ | 525000 | 518411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 2/15/31§ | 200000 | 193500 |
|  OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 3/15/30 | 125000 | 132059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/15/30(x) | 1000000 | 929800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 5/15/31(x) | 300000 | 313125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 11/15/31 | 350000 | 362943 |
|  PROG Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/15/29(x)§ | 850000 | 834063 |
|  |  | 8612487 |
|  ***Financial Services (2.6%)*** |  |  |
|  Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/15/33§ | 194000 | 198476 |
|  Freedom Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 12.000%, 10/1/28§ | 296000 | 313575 |
|  Freedom Mortgage Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 2/1/29§ | 374000 | 394335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 4/1/32§ | 243000 | 254496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 4/1/33§ | 575000 | 591951 |
|  Nationstar Mortgage Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/15/28§ | 225000 | 224777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 8/1/29§ | 525000 | 538529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 2/1/32§ | 200000 | 208584 |
|  Rocket Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 8/1/30§ | 100000 | 102875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 8/1/33§ | 552000 | 570630 |
|  Rocket Mortgage LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3/1/31§ | 725000 | 676548 |
|  Shift4 Payments LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 8/15/32§ | 1124000 | 1161935 |
|  WEX, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 3/15/33§ | 1475000 | 1504869 |
|  |  | 6741580 |
|  ***Insurance (4.3%)*** |  |  |
|  Acrisure LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 2/1/29§ | 1391000 | 1450618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/15/29§ | 275000 | 264687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 11/6/30§ | 150000 | 156188 |
|  Alliant Holdings Intermediate LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/15/27§ | 328000 | 328410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/1/31§ | 1150000 | 1175875 |
|  AmWINS Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 6/30/29§ | 1175000 | 1141586 |
|  Amynta Agency Borrower, Inc. and Amynta Warranty Borrower, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 7/15/33§ | 725000 | 743567 |
|  Ardonagh Group Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 2/15/32(x)§ | 1587000 | 1668334 |
|  Broadstreet Partners Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 4/15/29§ | 356000 | 354434 |
|  Howden UK Refinance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 2/15/31§ | 525000 | 540094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 2/15/32§ | 500000 | 518460 |
|  HUB International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 6/15/30§ | 458000 | 477483 |
|  Nassau Cos. of New York (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 7/15/30(x)§ | 1100000 | 1122319 |
|  Panther Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 6/1/31§ | 1051000 | 1093040 |
|  |  | 11035095 |
|  **Mortgage Real Estate Investment Trusts (REITs) (0.2%)** |  |  |
|  Starwood Property Trust, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 7/1/30§ | 204000 | 211113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 1/15/31§ | 184000 | 184000 |
|  |  | 395113 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 30263678 |
|  **Health Care (4.8%)** |  |  |
|  ***Biotechnology (0.2%)*** |  |  |
|  Grifols SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/15/28§ | EUR 225,000 | 257850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 10/15/28§ | $275000 | 267094 |
|  |  | 524944 |
|  ***Health Care Equipment & Supplies (0.7%)*** |  |  |
|  Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/1/29§ | 644000 | 638365 |
|  Neogen Food Safety Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 7/20/30§ | 785000 | 821197 |
|  Varex Imaging Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 10/15/27(x)§ | 313000 | 318584 |
|  |  | 1778146 |
|  ***Health Care Providers & Services (3.0%)*** |  |  |
|  Acadia Healthcare Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 7/1/28§ | 300000 | 297501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/15/29(x)§ | 150000 | 146760 |
|  AdaptHealth LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 3/1/30(x)§ | 298000 | 284048 |
|  Concentra Health Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 7/15/32§ | 175000 | 181393 |
|  DaVita, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 6/1/30(x)§ | 525000 | 502687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 2/15/31§ | 150000 | 137438 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT HIGH YIELD BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 9/1/32§ | $125000 | $129180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 7/15/33§ | 425000 | 438281 |
|  HealthEquity, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/1/29§ | 601000 | 582429 |
|  Heartland Dental LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 4/30/28§ | 139000 | 146471 |
|  LifePoint Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.875%, 8/15/30§ | 200000 | 216596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 10/15/30§ | 225000 | 247783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 6/1/32(x)§ | 775000 | 813750 |
|  Select Medical Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 12/1/32§ | 625000 | 625312 |
|  Star Parent, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 10/1/30§ | 383000 | 404705 |
|  Surgery Center Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 4/15/32§ | 557000 | 572095 |
|  Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 2/1/27 | 490000 | 489500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 10/1/28(x) | 700000 | 699972 |
|  US Acute Care Solutions LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 5/15/29§ | 716000 | 732110 |
|  |  | 7648011 |
|  ***Health Care Technology (0.8%)*** |  |  |
|  IQVIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/15/27§ | 200000 | 199500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 5/15/28 | 500000 | 515433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 2/1/29 | 648000 | 681511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 6/1/32§ | 591000 | 607252 |
|  |  | 2003696 |
|  ***Life Sciences Tools & Services (0.1%)*** |  |  |
|  Charles River Laboratories International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/15/31§ | 400000 | 372512 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 12327309 |
|  **Industrials (11.5%)** |  |  |
|  ***Aerospace & Defense (1.1%)*** |  |  |
|  Goat Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 2/1/32§ | 442000 | 453616 |
|  Rolls-Royce plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/15/27§ | 452000 | 463740 |
|  TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 12/1/31§ | 125000 | 130262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 5/31/33§ | 1400000 | 1417388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 1/31/34§ | 300000 | 310125 |
|  |  | 2775131 |
|  ***Building Products (1.1%)*** |  |  |
|  Advanced Drainage Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 6/15/30(x)§ | 269000 | 273673 |
|  AmeriTex HoldCo Intermediate LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 8/15/33§ | 325000 | 337584 |
|  Camelot Return Merger Sub, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 8/1/28§ | 434000 | 419483 |
|  EMRLD Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 12/15/30§ | 594000 | 610335 |
|  New Enterprise Stone & Lime Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 7/15/28(x)§ | 239000 | 236770 |
|  Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 3/1/33§ | 125000 | 129687 |
|  Smyrna Ready Mix Concrete LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/1/28§ | 625000 | 624856 |
|  Standard Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 7/15/30§ | 332000 | 317890 |
|  |  | 2950278 |
|  ***Commercial Services & Supplies (3.3%)*** |  |  |
|  ACCO Brands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 3/15/29(x)§ | 246000 | 222359 |
|  ADT Security Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 7/15/32§ | 363000 | 351203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/15/33§ | 321000 | 321000 |
|  Allied Universal Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/1/29§ | 151000 | 148358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 6/15/30§ | 482000 | 495409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 2/15/31§ | 408000 | 427380 |
|  Aramark Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/1/28§ | 558000 | 555266 |
|  Clarivate Science Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/1/28(x)§ | 275000 | 264608 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 7/1/29§ | 635000 | 599876 |
|  Garda World Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/1/29§ | 310000 | 307139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 8/1/32§ | 169000 | 175126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 11/15/32§ | 695000 | 720750 |
|  Madison IAQ LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 6/30/29§ | 801000 | 790987 |
|  Raven Acquisition Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/15/31§ | 529000 | 543743 |
|  Reworld Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 12/1/29§ | 375000 | 352500 |
|  Veritiv Operating Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 11/30/30(x)§ | 626000 | 673733 |
|  Waste Pro USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 2/1/33§ | 981000 | 1018278 |
|  Williams Scotsman, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 10/1/31§ | 558000 | 580755 |
|  |  | 8548470 |
|  ***Construction & Engineering (0.8%)*** |  |  |
|  AECOM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/1/33§ | 404000 | 412775 |
|  Arcosa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 8/15/32§ | 307000 | 319986 |
|  Brand Industrial Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.375%, 8/1/30§ | 400000 | 397760 |
|  Dycom Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/15/29(x)§ | 383000 | 373796 |
|  Pike Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 1/31/31§ | 262000 | 281058 |
|  Weekley Homes LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 9/15/28§ | 242000 | 237765 |
|  |  | 2023140 |
|  ***Electrical Equipment (0.1%)*** |  |  |
|  EnerSys |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 1/15/32§ | 267000 | 274716 |
|  ***Ground Transportation (1.3%)*** |  |  |
|  Beacon Mobility Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 8/1/30§ | 139000 | 144358 |
|  EquipmentShare.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 5/15/28§ | 321000 | 339840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 5/15/32§ | 450000 | 485577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 3/15/33§ | 225000 | 240372 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT HIGH YIELD BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Genesee & Wyoming, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 4/15/32§ | $230000 | $233721 |
|  NESCO Holdings II, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/15/29§ | 564000 | 551468 |
|  RXO, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 11/15/27§ | 316000 | 322804 |
|  Watco Cos. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 8/1/32§ | 743000 | 767920 |
|  XPO, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 6/1/31§ | 368000 | 383861 |
|  |  | 3469921 |
|  ***Machinery (1.1%)*** |  |  |
|  ATS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/15/28§ | 468000 | 447811 |
|  Chart Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 1/1/30§ | 832000 | 866145 |
|  Enpro, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 6/1/33§ | 225000 | 230447 |
|  Hillenbrand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 2/15/29 | 394000 | 403830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 3/1/31 | 130000 | 122384 |
|  Husky Injection Molding Systems Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 2/15/29§ | 394000 | 411730 |
|  Terex Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/15/32§ | 351000 | 357634 |
|  |  | 2839981 |
|  ***Passenger Airlines (0.4%)*** |  |  |
|  American Airlines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 4/20/29§ | 325000 | 325812 |
|  VistaJet Malta Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 6/1/28§ | 475000 | 494352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 2/1/30§ | 225000 | 219143 |
|  |  | 1039307 |
|  ***Professional Services (0.9%)*** |  |  |
|  AMN Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/1/27(x)§ | 275000 | 274890 |
|  CACI International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 6/15/33§ | 300000 | 309270 |
|  VT Topco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 8/15/30§ | 1676000 | 1705330 |
|  |  | 2289490 |
|  ***Trading Companies & Distributors (1.4%)*** |  |  |
|  FTAI Aviation Investors LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 5/1/31§ | 450000 | 470353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 6/15/32§ | 275000 | 287568 |
|  Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 6/15/30§ | 400000 | 415456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 6/15/33§ | 150000 | 156589 |
|  United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5/15/27 | 70000 | 69847 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/15/29§ | 408000 | 418710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 3/15/34§ | 242000 | 251607 |
|  WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 6/15/28§ | 532000 | 538916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 3/15/32§ | 469000 | 487395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 3/15/33§ | 415000 | 429687 |
|  |  | 3526128 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 29736562 |
|  **Information Technology (7.9%)** |  |  |
|  ***Communications Equipment (0.3%)*** |  |  |
|  CommScope LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 3/1/27§ | 314000 | 317410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 9/1/29§ | 364000 | 361663 |
|  |  | 679073 |
|  ***Electronic Equipment, Instruments & Components (0.1%)*** |  |  |
|  Zebra Technologies Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 6/1/32§ | 261000 | 268130 |
|  ***IT Services (1.1%)*** |  |  |
|  Ahead DB Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 5/1/28(x)§ | 640000 | 640755 |
|  ASGN, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 5/15/28§ | 575000 | 561499 |
|  Fortress Intermediate 3, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 6/1/31§ | 280000 | 292964 |
|  ION Trading Technologies Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 5/15/28§ | 800000 | 783008 |
|  Unisys Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.625%, 1/15/31§ | 556000 | 590689 |
|  |  | 2868915 |
|  ***Semiconductors & Semiconductor Equipment (0.1%)*** |  |  |
|  Amkor Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/1/33§ | 409000 | 413184 |
|  ***Software (6.3%)*** |  |  |
|  AthenaHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 2/15/30§ | 1502000 | 1487506 |
|  Camelot Finance SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/1/26§ | 50000 | 49730 |
|  Capstone Borrower, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 6/15/30(x)§ | 1729000 | 1807652 |
|  Central Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 6/15/29(x)§ | 975000 | 857688 |
|  Central Parent, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 6/15/29§ | 511000 | 442051 |
|  Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 3/31/29§ | 234000 | 236040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 9/30/29§ | 898000 | 927697 |
|  Dye & Durham Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 4/15/29(x)§ | 1025000 | 1009523 |
|  Ellucian Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/1/29§ | 444000 | 451095 |
|  Gen Digital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 9/30/30(x)§ | 667000 | 686463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 4/1/33§ | 410000 | 419393 |
|  Helios Software Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 5/1/28§ | 272000 | 262877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 5/1/29§ | 300000 | 309735 |
|  McAfee Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 2/15/30§ | 762000 | 706625 |
|  NCR Voyix Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/1/28§ | 349000 | 344554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 4/15/29(x)§ | 178000 | 174974 |
|  Open Text Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.900%, 12/1/27§ | 380000 | 395766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/1/29§ | 75000 | 70829 |
|  Open Text Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/1/31§ | 492000 | 454756 |
|  Rocket Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 11/28/28§ | 390000 | 401423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 2/15/29§ | 256000 | 249267 |
|  SS&C Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/30/27§ | 662000 | 660828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 6/1/32(x)§ | 1017000 | 1052331 |
|  UKG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 2/1/31§ | 864000 | 891000 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT HIGH YIELD BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  ZoomInfo Technologies LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 2/1/29§ | $2121000 | $2008778 |
|  |  | 16358581 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 20587883 |
|  **Materials (8.4%)** |  |  |
|  ***Chemicals (3.3%)*** |  |  |
|  Avient Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 8/1/30§ | 339000 | 347699 |
|  Axalta Coating Systems LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/15/27§ | 350000 | 348250 |
|  Celanese US Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 4/15/33(x) | 640000 | 636800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 11/15/33(e) | 224000 | 232729 |
|  HB Fuller Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/15/28(x) | 372000 | 361770 |
|  Illuminate Buyer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 7/1/28(x)§ | 1026000 | 1028565 |
|  INEOS Quattro Finance 2 plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 3/15/29(x)§ | 600000 | 595902 |
|  Maxam Prill Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 7/15/30§ | 286000 | 287788 |
|  Minerals Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/1/28§ | 720000 | 708149 |
|  NOVA Chemicals Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 11/15/28§ | 545000 | 570261 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 2/15/30§ | 116000 | 124368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 12/1/31§ | 177000 | 186455 |
|  Nufarm Australia Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/27/30§ | 582000 | 530860 |
|  Olympus Water US Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/1/28§ | 246000 | 236468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/1/29(x)§ | 200000 | 193914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 6/15/31§ | 370000 | 374869 |
|  Qnity Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 8/15/33§ | 606000 | 618762 |
|  Solstice Advanced Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 9/30/33§ | 230000 | 230851 |
|  WR Grace Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 8/15/29(x)§ | 977000 | 906980 |
|  |  | 8521440 |
|  ***Containers & Packaging (2.7%)*** |  |  |
|  Ardagh Metal Packaging Finance USA LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/1/29§ | 1434000 | 1326450 |
|  Clydesdale Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 4/15/30(x)§ | 858000 | 880523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 4/15/32§ | 236000 | 241914 |
|  Graphic Packaging International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 7/15/32(x)§ | 230000 | 233738 |
|  LABL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/1/28(x)§ | 679000 | 526247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 10/1/31(x)§ | 394000 | 289303 |
|  Mauser Packaging Solutions Holding Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 4/15/27§ | 366000 | 369938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 4/15/27§ | 1150000 | 1148367 |
|  Owens-Brockway Glass Container, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 5/13/27(x)§ | 413000 | 411967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 5/15/31(x)§ | 258000 | 262511 |
|  Sealed Air Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 2/1/28§ | 182000 | 184371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 2/15/31§ | 350000 | 367192 |
|  Toucan FinCo Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 5/15/30§ | 448000 | 438717 |
|  Trivium Packaging Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 7/15/30§ | 200000 | 213234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12.250%, 1/15/31§ | 226000 | 244645 |
|  |  | 7139117 |
|  ***Metals & Mining (1.9%)*** |  |  |
|  Arsenal AIC Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 10/1/30§ | 400000 | 423320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.500%, 10/1/31§ | 575000 | 638595 |
|  Constellium SE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/15/29§ | 75000 | 71344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 8/15/32(x)§ | 550000 | 562210 |
|  Kaiser Aluminum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 6/1/31§ | 338000 | 318142 |
|  Novelis Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1/30/30§ | 800000 | 770932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 1/30/30(x)§ | 171000 | 176850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 8/15/33§ | 684000 | 690772 |
|  SunCoke Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 6/30/29§ | 1250000 | 1167000 |
|  |  | 4819165 |
|  ***Paper & Forest Products (0.5%)*** |  |  |
|  Magnera Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/15/29(x)§ | 250000 | 221250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 11/15/31(x)§ | 1108000 | 1041520 |
|  |  | 1262770 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 21742492 |
|  **Real Estate (1.8%)** |  |  |
|  ***Diversified REITs (0.1%)*** |  |  |
|  VICI Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/1/26§ | 290000 | 288908 |
|  ***Health Care REITs (0.7%)*** |  |  |
|  MPT Operating Partnership LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.993%, 10/15/26 | 500000 | 559077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/27(x) | $575000 | 556445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/15/31(x) | 300000 | 221472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 2/15/32§ | 375000 | 397612 |
|  |  | 1734606 |
|  ***Hotel & Resort REITs (0.6%)*** |  |  |
|  Park Intermediate Holdings LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/1/28§ | 356000 | 355110 |
|  Pebblebrook Hotel LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 10/15/29§ | 232000 | 235332 |
|  RHP Hotel Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 6/15/33§ | 350000 | 360216 |
|  Service Properties Trust (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 11/15/31§ | 450000 | 478687 |
|  |  | 1429345 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT HIGH YIELD BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  ***Real Estate Management & Development (0.3%)*** |  |  |
|  Cushman & Wakefield US Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 5/15/28§ | $446000 | $449867 |
|  Greystar Real Estate Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 9/1/30§ | 324000 | 341820 |
|  |  | 791687 |
|  ***Specialized REITs (0.1%)*** |  |  |
|  Iron Mountain, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/15/28§ | 381000 | 377990 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 4622536 |
|  **Utilities (0.2%)** |  |  |
|  ***Gas Utilities (0.1%)*** |  |  |
|  Suburban Propane Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/1/31§ | 250000 | 237635 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  Lightning Power LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 8/15/32§ | 350000 | 370331 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 607966 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  | 207454509 |
|  **Loan Participations (5.3%)** |  |  |
|  **Communication Services (0.0%)†** |  |  |
|  ***Media (0.0%)†*** |  |  |
|  Loyalty Ventures, Inc., 1st Lien Term Loan B<br>(US Prime Rate + 5.50%), 13.000%, 11/3/26(k) | 305297 | 22897 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 22897 |
|  **Consumer Discretionary (0.5%)** |  |  |
|  ***Automobile Components (0.2%)*** |  |  |
|  Clarios Global LP, 1st Lien Term Loan<br>(CME Term SOFR 1 Month + 2.50%), 6.816%, 5/6/30(k) | 223872 | 223499 |
|  First Brands Group LLC, 1st Lien Incremental Term Loan<br>(CME Term SOFR 3 Month + 5.00%), 9.570%, 3/30/27(k) | 146998 | 52000 |
|  First Brands Group LLC, 1st Lien Term Loan<br>(CME Term SOFR 3 Month + 5.00%), 9.570%, 3/30/27(k) | 603465 | 213476 |
|  First Brands Group LLC, 2nd Lien Term Loan<br>(CME Term SOFR 3 Month + 8.50%), 13.070%, 3/30/28(k) | 300000 | 16500 |
|  |  | 505475 |
|  ***Diversified Consumer Services (0.2%)*** |  |  |
|  Champions Financing, Inc., 1st Lien Initial Term Loan<br>(CME Term SOFR 3 Month + 4.75%), 8.948%, 2/6/29(k) | 572111 | 533970 |
|  ***Specialty Retail (0.1%)*** |  |  |
|  Victra Holdings LLC, 1st Lien Incremental Term Loan<br>(CME Term SOFR 1 Month + 3.75%), 7.913%, 3/30/29(k) | 237694 | 237991 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 1277436 |
|  **Consumer Staples (0.2%)** |  |  |
|  ***Beverages (0.2%)*** |  |  |
|  Arterra Wines Canada, Inc., 1st Lien Initial Term Loan B1<br>(CME Term SOFR 3 Month + 3.50%), 7.763%, 11/25/27(k) | 472973 | 458784 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 458784 |
|  **Financials (1.8%)** |  |  |
|  ***Capital Markets (0.7%)*** |  |  |
|  Nexus Buyer LLC, 1st Lien Initial Term Loan<br>(CME Term SOFR 1 Month + 3.50%), 7.663%, 7/31/31(k) | 273627 | 272806 |
|  Nexus Buyer LLC, 2nd Lien Initial Term Loan<br>(CME Term SOFR 1 Month + 5.75%), 9.913%, 2/16/32(k) | 1600000 | 1594667 |
|  |  | 1867473 |
|  ***Financial Services (0.2%)*** |  |  |
|  Jump Financial LLC, 1st Lien Term Loan B<br>(CME Term SOFR 3 Month + 3.50%), 7.502%, 2/26/32(k) | 574438 | 575874 |
|  ***Insurance (0.9%)*** |  |  |
|  Acrisure LLC, 1st Lien Term Loan B6<br>(CME Term SOFR 1 Month + 3.00%), 7.163%, 11/6/30(k) | 198997 | 198500 |
|  Asurion LLC, 2nd Lien Term Loan B3<br>(CME Term SOFR 1 Month + 5.25%), 9.528%, 1/31/28(k) | 1050000 | 1021999 |
|  Asurion LLC, 2nd Lien Term Loan B4<br>(CME Term SOFR 1 Month + 5.25%), 9.528%, 1/19/29(k) | 800000 | 763857 |
|  Truist Insurance Holdings LLC, 2nd Lien Initial Term Loan<br>(CME Term SOFR 3 Month + 4.75%), 8.752%, 5/6/32(k) | 355263 | 361332 |
|  |  | 2345688 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 4789035 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT HIGH YIELD BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |  |
|  **Health Care (0.1%)** |  |  |  |
|  ***Health Care Providers & Services (0.1%)*** | ***Health Care Providers & Services (0.1%)*** | ***Health Care Providers & Services (0.1%)*** | **** |
|  Sound Inpatient Physicians, Inc., 1st Lien Term Loan C<br>(CME Term SOFR 3 Month + 6.75%), 11.307%, 6/28/29 PIK(k) | $277333 | $241280 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 241280 |  |
|  **Industrials (0.1%)** |  |  |  |
|  ***Construction & Engineering (0.1%)*** |  |  |  |
|  Tecta America Corp., 1st Lien Term Loan<br>(CME Term SOFR 1 Month + 3.00%), 7.163%, 2/18/32(k) | 299250 | 300092 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 300092 |  |
|  **Information Technology (2.6%)** |  |  |  |
|  ***Software (2.6%)*** |  |  |  |
|  Applied Systems, Inc., 2nd Lien Term Loan<br>(CME Term SOFR 3 Month + 4.50%), 8.502%, 2/23/32(k) | 975000 | 996531 |  |
|  Ascend Learning LLC, 1st Lien Initial Term Loan<br>(CME Term SOFR 1 Month + 3.00%), 7.163%, 12/11/28(k) | 847875 | 846639 |  |
|  AthenaHealth Group, Inc., 1st Lien Initial Term Loan<br>(CME Term SOFR 1 Month + 2.75%), 6.913%, 2/15/29(k) | 298500 | 297541 |  |
|  Cast & Crew LLC, 1st Lien Incremental Term Loan<br>(CME Term SOFR 1 Month + 3.75%), 7.913%, 12/29/28(k) | 617120 | 554829 |  |
|  Ellucian Holdings, Inc., 2nd Lien Initial Term Loan<br>(CME Term SOFR 1 Month + 4.75%), 8.913%, 11/15/32(k) | 350000 | 356562 |  |
|  Kaseya, Inc., 1st Lien Initial Term Loan<br>(CME Term SOFR 1 Month + 3.25%), 7.413%, 3/22/32(k) | 174125 | 174280 |  |
|  Kaseya, Inc., 2nd Lien Initial Term Loan<br>(CME Term SOFR 1 Month + 5.00%), 9.316%, 3/22/32(k) | 525000 | 524672 |  |
|  KnowBe4, Inc., 1st Lien Term Loan<br>(CME Term SOFR 3 Month + 3.75%), 8.068%, 7/23/32(k) | 200000 | 200000 |  |
|  Leia Finco U.S. LLC, 1st Lien Initial Term Loan<br>(CME Term SOFR 3 Month + 3.25%), 7.570%, 10/9/31(k) | 347876 | 347604 |  |
|  Leia Finco U.S. LLC, 2nd Lien Initial Term Loan<br>(CME Term SOFR 3 Month + 5.25%), 9.570%, 10/11/32(k) | 1025000 | 1023719 |  |
|  Modena Buyer LLC, 1st Lien Initial Term Loan<br>(CME Term SOFR 3 Month + 4.50%), 8.808%, 7/1/31(k) | 570688 | 562841 |  |
|  Planview Parent, Inc., 1st Lien Incremental Term Loan B<br>(CME Term SOFR 3 Month + 3.50%), 7.510%, 12/17/27(k) | 124372 | 122351 |  |
|  Proofpoint, Inc., 1st Lien Term Loan<br>(CME Term SOFR 12 Month + 3.00%), 6.785%, 8/31/28(k) | 125000 | 125293 |  |
|  Red Planet Borrower LLC, 1st Lien Initial Term Loan<br>(CME Term SOFR 1 Month + 4.00%), 8.163%, 9/8/32(k) | 550000 | 534325 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 6667187 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Loan Participations** |  | 13756711 |  |
|  **Total Long-Term Debt Securities (85.4%)**<br> *(Cost $219,665,333)* |  | 221211220 |  |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |  |
|  COMMON STOCK: |  |  |  |
|  **Health Care (0.0%)†** |  |  |  |
|  ***Health Care Providers & Services (0.0%)†*** |  |  |  |
|  Sound Inpatient Physicians, Inc., Class A(r)\* | 377134 | 48865 |  |
|  Sound Inpatient Physicians, Inc., Class A2(r)\* | 16883 | 12662 |  |
|  **Total Common Stocks (0.0%)†**<br> *(Cost $–)* |  | 61527 |  |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |  |
|  **Fixed Income (8.9%)** |  |  |  |
|  iShares Broad USD High Yield Corporate Bond ETF | 256750 | 9700015 |  |
|  iShares iBoxx $ High Yield Corporate Bond ETF | 37700 | 3060863 |  |
|  SPDR Bloomberg High Yield Bond ETF(x) | 32634 | 3197806 |  |
|  SPDR Portfolio High Yield Bond ETF | 291730 | 6984016 |  |
|  **Total Exchange Traded Funds (8.9%)**<br> (*Cost $24,451,879)* |  | 22942700 |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT HIGH YIELD BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (9.5%)** |  |  |
|  Allspring Government Money Market Fund, Select Shares 4.07% (7 day yield) (xx) | 1000000 | $1000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 16996815 | 16996815 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 2405088 | 2406050 |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 2000000 | 2000000 |
|  Western Asset Institutional Government Reserves Fund, Institutional Shares 4.04% (7 day yield) (xx) | 2150417 | 2150417 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** | &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** | 24553282 |
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  **U.S. Treasury Obligations (1.5%)** |  |  |
|  U.S. Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 10/2/25(p) | $825000 | 824908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/23/25(p) | 3125000 | 3117280 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** | &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** | 3942188 |
|  **Total Short-Term Investments (11.0%)**<br> *(Cost $28,495,260)* |  | 28495470 |
|  **Total Investments in Securities (105.3%)**<br> *(Cost $272,612,472)* |  | 272710917 |
|  **Other Assets Less Liabilities (-5.3%)** |  | (13788762) |
|  **Net Assets (100%)** |  | $258922155 |

---

*\** *Non-income producing.* 

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

---

| | |
|:---|:---|
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At September 30, 2025, the market value of these securities amounted to $192,360,083 or 74.3% of net assets.*  |

---

*(e)* *Step Bond - Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of September 30, 2025. Maturity date disclosed is the ultimate maturity date.* 

*(k)* *Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of September 30, 2025.* 

*(p)* *Yield to maturity.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $22,223,534. This was collateralized by $762,829 of various U.S. Government Treasury Securities, ranging from 0.125% – 5.375%, maturing 7/15/26 – 2/15/55 and by cash of $22,147,232 which was subsequently invested in investment companies.* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT HIGH YIELD BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*Glossary:* 

*CME — Chicago Mercantile Exchange* 

*EUR — European Currency Unit* 

*PIK — Payment-in Kind Security* 

*REIT — Real Estate Investment Trust* 

*SOFR — Secured Overnight Financing Rate* 

*USD — United States Dollar* 

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)<br>($)** |
|  USD | 1579329 | EUR | 1346000 | JPMorgan Chase Bank | 11/20/2025 | (5616) |
|  **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** |  | (5616) |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT HIGH YIELD BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Health Care | $— | $— | $61527 | $61527 |
|  **Corporate Bonds** |  |  |  |  |
|  Communication Services |  | 20266480 |  | 20266480 |
|  Consumer Discretionary |  | 37712970 |  | 37712970 |
|  Consumer Staples |  | 8925118 |  | 8925118 |
|  Energy |  | 20661515 |  | 20661515 |
|  Financials |  | 30263678 |  | 30263678 |
|  Health Care |  | 12327309 |  | 12327309 |
|  Industrials |  | 29736562 |  | 29736562 |
|  Information Technology |  | 20587883 |  | 20587883 |
|  Materials |  | 21742492 |  | 21742492 |
|  Real Estate |  | 4622536 |  | 4622536 |
|  Utilities |  | 607966 |  | 607966 |
|  **Exchange Traded Funds** | 22942700 |  |  | 22942700 |
|  **Loan Participations** |  |  |  |  |
|  Communication Services |  | 22897 |  | 22897 |
|  Consumer Discretionary |  | 1277436 |  | 1277436 |
|  Consumer Staples |  | 458784 |  | 458784 |
|  Financials |  | 4789035 |  | 4789035 |
|  Health Care |  | 241280 |  | 241280 |
|  Industrials |  | 300092 |  | 300092 |
|  Information Technology |  | 6667187 |  | 6667187 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 24553282 |  |  | 24553282 |
|  U.S. Treasury Obligations |  | 3942188 |  | 3942188 |
|  **Total Assets** | $**47495982** | $**225153408** | $**61527** | $**272710917** |
|  **Liabilities:** |  |  |  |  |
|  **Forward Currency Contracts** | $**—** | $**(5616)** | $**—** | $**(5616)** |
|  **Total Liabilities** | $**—** | $**(5616)** | $**—** | $**(5616)** |
|  **Total** | $**47495982** | $**225147792** | $**61527** | $**272705301** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $5212031 |
|  Aggregate gross unrealized depreciation | (5487962) |
|  Net unrealized depreciation | $(275931) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $272981232 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT MICRO CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (2.8%)** |  |  |
|  ***Diversified Telecommunication Services (0.2%)*** |  |  |
|  Anterix, Inc.\* | 2164 | $46461 |
|  ATN International, Inc. | 2016 | 30180 |
|  Bandwidth, Inc., Class A\* | 5163 | 86067 |
|  IDT Corp., Class B | 3154 | 164986 |
|  |  | 327694 |
|  ***Entertainment (1.0%)*** |  |  |
|  Cineverse Corp., Class A\* | 2642 | 8877 |
|  CuriosityStream, Inc. | 6164 | 32669 |
|  Eventbrite, Inc., Class A\* | 14595 | 36779 |
|  Gaia, Inc., Class A\* | 3498 | 20708 |
|  Golden Matrix Group, Inc.\* | 2846 | 3216 |
|  IMAX Corp.\* | 47145 | 1543999 |
|  Marcus Corp. (The) | 4444 | 68927 |
|  Playstudios, Inc.\* | 18504 | 17812 |
|  PodcastOne, Inc.\* | 850 | 1428 |
|  Reservoir Media, Inc.\* | 4180 | 34025 |
|  Skillz, Inc., Class A(x)\* | 2006 | 16048 |
|  Starz Entertainment Corp. | 2213 | 32598 |
|  |  | 1817086 |
|  ***Interactive Media & Services (0.8%)*** |  |  |
|  Angi, Inc., Class A\* | 7867 | 127917 |
|  Arena Group Holdings, Inc. (The)\* | 2643 | 14457 |
|  BuzzFeed, Inc., Class A\* | 4146 | 7048 |
|  DHI Group, Inc.\* | 8543 | 23750 |
|  EverQuote, Inc., Class A\* | 5368 | 122766 |
|  fuboTV, Inc.(x)\* | 64741 | 268675 |
|  Giftify, Inc.\* | 3825 | 4055 |
|  Grindr, Inc.\* | 28982 | 435310 |
|  IZEA Worldwide, Inc.\* | 2745 | 10211 |
|  MediaAlpha, Inc., Class A\* | 6517 | 74163 |
|  Nextdoor Holdings, Inc.\* | 40713 | 85090 |
|  PSQ Holdings, Inc.(x)\* | 6276 | 11987 |
|  QuinStreet, Inc.\* | 10499 | 162420 |
|  Teads Holding Co.\* | 7732 | 12758 |
|  Travelzoo(x)\* | 1254 | 12327 |
|  TrueCar, Inc.\* | 15402 | 28340 |
|  Zedge, Inc., Class B\* | 2242 | 6524 |
|  |  | 1407798 |
|  ***Media (0.7%)*** |  |  |
|  Boston Omaha Corp., Class A(x)\* | 4232 | 55355 |
|  Cardlytics, Inc.\* | 10657 | 25896 |
|  Emerald Holding, Inc.(x) | 2998 | 15260 |
|  Entravision Communications Corp., Class A | 12160 | 28333 |
|  EW Scripps Co. (The), Class A\* | 12344 | 30366 |
|  Fluent, Inc.(x)\* | 2143 | 4757 |
|  Gambling.com Group Ltd.\* | 3190 | 26094 |
|  Gannett Co., Inc.(x)\* | 27235 | 112481 |
|  Harte Hanks, Inc.\* | 1239 | 4597 |
|  iHeartMedia, Inc., Class A\* | 22940 | 65838 |
|  Lee Enterprises, Inc.(x)\* | 910 | 4950 |
|  Marchex, Inc., Class B\* | 4459 | 7982 |
|  MNTN, Inc., Class A(x)\* | 27782 | 515356 |
|  National CineMedia, Inc. | 12308 | 55509 |
|  Nexxen International Ltd.\* | 7333 | 67830 |
|  Saga Communications, Inc., Class A | 948 | 11793 |
|  Thryv Holdings, Inc.\* | 7160 | 86350 |
|  Townsquare Media, Inc., Class A | 2833 | 19038 |
|  Urban One, Inc., Class A\* | 1527 | 2107 |
|  WideOpenWest, Inc.\* | 9597 | 49520 |
|  |  | 1189412 |
|  ***Wireless Telecommunication Services (0.1%)*** |  |  |
|  KORE Group Holdings, Inc.\* | 982 | 2376 |
|  Spok Holdings, Inc. | 3993 | 68879 |
|  SurgePays, Inc.\* | 2896 | 8138 |
|  |  | 79393 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 4821383 |
|  **Consumer Discretionary (7.2%)** |  |  |
|  ***Automobile Components (0.2%)*** |  |  |
|  Cooper-Standard Holdings, Inc.\* | 3278 | 121057 |
|  Holley, Inc.\* | 11689 | 36703 |
|  Luminar Technologies, Inc., Class A(x)\* | 8463 | 16164 |
|  Motorcar Parts of America, Inc.\* | 2568 | 42475 |
|  Solid Power, Inc.(x)\* | 29581 | 102646 |
|  Stoneridge, Inc.\* | 5422 | 41316 |
|  Strattec Security Corp.\* | 742 | 50500 |
|  Sypris Solutions, Inc.\* | 2083 | 4437 |
|  |  | 415298 |
|  ***Automobiles (0.0%)†*** |  |  |
|  Faraday Future Intelligent Electric, Inc., Class A(x)\* | 17655 | 22952 |
|  Massimo Group\* | 1027 | 2413 |
|  |  | 25365 |
|  ***Broadline Retail (0.1%)*** |  |  |
|  1stdibs.com, Inc.\* | 4820 | 12484 |
|  Groupon, Inc.(x)\* | 4895 | 114298 |
|  |  | 126782 |
|  ***Distributors (0.1%)*** |  |  |
|  A-Mark Precious Metals, Inc. | 3688 | 95409 |
|  AMCON Distributing Co. | 24 | 2730 |
|  Weyco Group, Inc. | 1198 | 36048 |
|  |  | 134187 |
|  ***Diversified Consumer Services (2.3%)*** |  |  |
|  American Public Education, Inc.\* | 25000 | 986750 |
|  Carriage Services, Inc., Class A | 2747 | 122351 |
|  European Wax Center, Inc., Class A\* | 5595 | 22324 |
|  Legacy Education, Inc.\* | 1745 | 16700 |
|  Lincoln Educational Services Corp.(x)\* | 35445 | 832957 |
|  Nerdy, Inc.(x)\* | 12124 | 15276 |
|  Regis Corp.\* | 419 | 12214 |
|  Stride, Inc.\* | 4961 | 738891 |
|  Universal Technical Institute, Inc.\* | 39438 | 1283707 |
|  Zspace, Inc.\* | 320 | 314 |
|  |  | 4031484 |
|  ***Hotels, Restaurants & Leisure (1.7%)*** |  |  |
|  Allied Gaming & Entertainment, Inc.\* | 2522 | 2318 |
|  Ark Restaurants Corp.\* | 437 | 3103 |
|  Bally's Corp.\* | 1480 | 16428 |
|  Biglari Holdings, Inc., Class B\* | 134 | 43369 |
|  BJ's Restaurants, Inc.\* | 3886 | 118640 |
|  Black Rock Coffee Bar, Inc., Class A\* | 12025 | 286917 |
|  Canterbury Park Holding Corp. | 412 | 6666 |
|  Century Casinos, Inc.\* | 5461 | 14253 |
|  Denny's Corp.(x)\* | 9991 | 52253 |
|  El Pollo Loco Holdings, Inc.\* | 5036 | 48849 |
|  FAT Brands, Inc., Class A | 1087 | 2120 |
|  Flanigan's Enterprises, Inc. | 74 | 2359 |
|  Full House Resorts, Inc.\* | 7090 | 22759 |
|  Genius Sports Ltd.\* | 84059 | 1040650 |
|  Golden Entertainment, Inc. | 3732 | 88001 |
|  Inspired Entertainment, Inc.\* | 4872 | 45699 |
|  Kura Sushi USA, Inc., Class A\* | 1218 | 72361 |
|  Lindblad Expeditions Holdings, Inc.\* | 53156 | 680397 |
|  Nathan's Famous, Inc. | 553 | 61239 |
|  ONE Group Hospitality, Inc. (The)\* | 5320 | 15747 |
|  Potbelly Corp.\* | 5003 | 85251 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT MICRO CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Pursuit Attractions and Hospitality, Inc.\* | 4146 | $150002 |
|  Rave Restaurant Group, Inc.\* | 2019 | 6683 |
|  RCI Hospitality Holdings, Inc. | 1593 | 48602 |
|  Red Robin Gourmet Burgers, Inc.\* | 3019 | 20710 |
|  Serve Robotics, Inc.(x)\* | 9088 | 105694 |
|  |  | 3041070 |
|  ***Household Durables (0.4%)*** |  |  |
|  Bassett Furniture Industries, Inc. | 1590 | 24868 |
|  Beazer Homes USA, Inc.\* | 5443 | 133626 |
|  Ethan Allen Interiors, Inc. | 4444 | 130920 |
|  Flexsteel Industries, Inc. | 722 | 33465 |
|  Hamilton Beach Brands Holding Co., Class A | 1484 | 21325 |
|  Hooker Furnishings Corp. | 1944 | 19732 |
|  Hovnanian Enterprises, Inc., Class A\* | 923 | 118596 |
|  iRobot Corp.(x)\* | 5781 | 20754 |
|  Koss Corp.\* | 1055 | 5359 |
|  Legacy Housing Corp.\* | 1653 | 45474 |
|  Lifetime Brands, Inc. | 2448 | 9474 |
|  Live Ventures, Inc.\* | 225 | 4133 |
|  Lovesac Co. (The)(x)\* | 2561 | 43358 |
|  Traeger, Inc.\* | 6647 | 8109 |
|  United Homes Group, Inc.\* | 1708 | 7054 |
|  Universal Electronics, Inc.\* | 2564 | 11948 |
|  |  | 638195 |
|  ***Leisure Products (0.3%)*** |  |  |
|  American Outdoor Brands, Inc.\* | 2383 | 20684 |
|  Clarus Corp. | 5693 | 19925 |
|  Escalade, Inc. | 2078 | 26120 |
|  Funko, Inc., Class A\* | 6461 | 22226 |
|  JAKKS Pacific, Inc. | 1743 | 32646 |
|  Johnson Outdoors, Inc., Class A | 1050 | 42410 |
|  Latham Group, Inc.\* | 8796 | 66938 |
|  Marine Products Corp. | 1701 | 15088 |
|  MasterCraft Boat Holdings, Inc.\* | 3125 | 67063 |
|  Outdoor Holding Co.\* | 17640 | 26107 |
|  Smith & Wesson Brands, Inc. | 8559 | 84135 |
|  |  | 423342 |
|  ***Specialty Retail (2.0%)*** |  |  |
|  1-800-Flowers.com, Inc., Class A(x)\* | 4194 | 19292 |
|  aka Brands Holding Corp.\* | 96 | 926 |
|  America's Car-Mart, Inc.(x)\* | 1431 | 41800 |
|  BARK, Inc.(x)\* | 17591 | 14615 |
|  Barnes & Noble Education, Inc.(x)\* | 3130 | 31143 |
|  Bed Bath & Beyond, Inc.(x)\* | 10645 | 104215 |
|  Build-A-Bear Workshop, Inc. | 2414 | 157417 |
|  Caleres, Inc.(x) | 6459 | 84225 |
|  Cato Corp. (The), Class A\* | 3127 | 13165 |
|  Children's Place, Inc. (The)\* | 1331 | 8266 |
|  Citi Trends, Inc.\* | 927 | 28765 |
|  Designer Brands, Inc., Class A(x) | 6130 | 21700 |
|  Destination XL Group, Inc.\* | 9568 | 12534 |
|  Duluth Holdings, Inc., Class B\* | 2768 | 10823 |
|  Envela Corp.\* | 1291 | 10083 |
|  Genesco, Inc.\* | 1919 | 55632 |
|  Grove Collaborative Holdings(x)\* | 4516 | 6774 |
|  GrowGeneration Corp.\* | 11105 | 20766 |
|  Haverty Furniture Cos., Inc. | 2538 | 55658 |
|  J Jill, Inc. | 1401 | 24027 |
|  Lands' End, Inc.\* | 2287 | 32247 |
|  MarineMax, Inc.\* | 3651 | 92480 |
|  Newegg Commerce, Inc., Class A\* | 364 | 15270 |
|  OneWater Marine, Inc., Class A\* | 2200 | 34848 |
|  PetMed Express, Inc.(x)\* | 3324 | 8343 |
|  RealReal, Inc. (The)(x)\* | 18432 | 195932 |
|  RideNow Group, Inc., Class B\* | 4554 | 20038 |
|  Shoe Carnival, Inc. | 3479 | 72328 |
|  Sleep Number Corp.(x)\* | 3661 | 25700 |
|  Sportsman's Warehouse Holdings, Inc.\* | 7064 | 19567 |
|  Stitch Fix, Inc., Class A\* | 20720 | 90132 |
|  ThredUp, Inc., Class A\* | 120749 | 1141078 |
|  Tile Shop Holdings, Inc.(x)\* | 5930 | 35877 |
|  Tilly's, Inc., Class A(x)\* | 3049 | 6281 |
|  Torrid Holdings, Inc.\* | 6247 | 10932 |
|  Warby Parker, Inc., Class A\* | 22449 | 619143 |
|  Winmark Corp. | 579 | 288209 |
|  Zumiez, Inc.\* | 2755 | 54026 |
|  |  | 3484257 |
|  ***Textiles, Apparel & Luxury Goods (0.1%)*** |  |  |
|  Allbirds, Inc., Class A(x)\* | 1117 | 6333 |
|  Crown Crafts, Inc. | 1742 | 5069 |
|  Culp, Inc.\* | 2105 | 9388 |
|  Fossil Group, Inc.(x)\* | 9963 | 25605 |
|  Jerash Holdings US, Inc. | 1177 | 3908 |
|  Lakeland Industries, Inc.(x) | 1771 | 26211 |
|  Movado Group, Inc. | 3013 | 57157 |
|  Playboy, Inc.(x)\* | 10699 | 15727 |
|  Rocky Brands, Inc. | 1395 | 41557 |
|  Superior Group of Cos., Inc. | 2280 | 24442 |
|  Unifi, Inc.\* | 3151 | 14999 |
|  Vera Bradley, Inc.\* | 4326 | 8695 |
|  |  | 239091 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 12559071 |
|  **Consumer Staples (3.7%)** |  |  |
|  ***Beverages (0.9%)*** |  |  |
|  Vita Coco Co., Inc. (The)\* | 34527 | 1466361 |
|  Willamette Valley Vineyards, Inc.\* | 623 | 2268 |
|  Zevia PBC, Class A\* | 6561 | 17846 |
|  |  | 1486475 |
|  ***Consumer Staples Distribution & Retail (0.9%)*** |  |  |
|  Chefs' Warehouse, Inc. (The)\* | 12237 | 713784 |
|  HF Foods Group, Inc.\* | 7751 | 21393 |
|  Natural Grocers by Vitamin Cottage, Inc. | 21208 | 848320 |
|  Village Super Market, Inc., Class A | 1786 | 66725 |
|  |  | 1650222 |
|  ***Food Products (0.7%)*** |  |  |
|  Alico, Inc. | 1026 | 35561 |
|  Barfresh Food Group, Inc.\* | 1235 | 4298 |
|  Beyond Meat, Inc.(x)\* | 14490 | 27386 |
|  Bridgford Foods Corp.\* | 296 | 2352 |
|  Calavo Growers, Inc. | 3227 | 83063 |
|  Farmer Bros Co.\* | 3021 | 5166 |
|  Forafric Global plc(x)\* | 945 | 8212 |
|  Laird Superfood, Inc.\* | 1638 | 9140 |
|  Lifeway Foods, Inc.\* | 998 | 27705 |
|  Limoneira Co. | 3338 | 49569 |
|  Mama's Creations, Inc.\* | 6614 | 69513 |
|  Seneca Foods Corp., Class A\* | 898 | 96930 |
|  SunOpta, Inc.\* | 18711 | 109647 |
|  Vital Farms, Inc.\* | 16128 | 663667 |
|  |  | 1192209 |
|  ***Household Products (0.1%)*** |  |  |
|  Oil-Dri Corp. of America | 1930 | 117807 |
|  ***Personal Care Products (0.9%)*** |  |  |
|  AXIL Brands, Inc.\* | 420 | 2646 |
|  Beauty Health Co. (The)(x)\* | 22699 | 45171 |
|  FitLife Brands, Inc.\* | 772 | 15355 |
|  Honest Co., Inc. (The)(x)\* | 18352 | 67535 |
|  Lifevantage Corp. | 2022 | 19674 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT MICRO CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Medifast, Inc.(x)\* | 2112 | $28871 |
|  Natural Health Trends Corp. | 1508 | 6741 |
|  Nature's Sunshine Products, Inc.\* | 3292 | 51092 |
|  Oddity Tech Ltd., Class A\* | 22118 | 1377952 |
|  United-Guardian, Inc. | 544 | 4243 |
|  |  | 1619280 |
|  ***Tobacco (0.2%)*** |  |  |
|  Ispire Technology, Inc.\* | 3634 | 9303 |
|  Turning Point Brands, Inc. | 3323 | 328512 |
|  |  | 337815 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 6403808 |
|  **Energy (3.9%)** |  |  |
|  ***Energy Equipment & Services (0.6%)*** |  |  |
|  Bristow Group, Inc., Class A\* | 5515 | 198981 |
|  Dawson Geophysical Co.\* | 1144 | 2013 |
|  DMC Global, Inc.\* | 3710 | 31349 |
|  Drilling Tools International Corp.\* | 3588 | 8252 |
|  Energy Services of America Corp. | 2234 | 23122 |
|  Forum Energy Technologies, Inc.\* | 2201 | 58789 |
|  Geospace Technologies Corp.\* | 2350 | 44556 |
|  Gulf Island Fabrication, Inc.\* | 3080 | 21622 |
|  KLX Energy Services Holdings, Inc.\* | 2778 | 5334 |
|  Mammoth Energy Services, Inc.\* | 5076 | 11624 |
|  MIND Technology, Inc.\* | 1619 | 13098 |
|  National Energy Services Reunited |  |  |
|  Corp.(x)\* | 11760 | 120658 |
|  Natural Gas Services Group, Inc. | 1952 | 54636 |
|  NCS Multistage Holdings, Inc.\* | 154 | 7863 |
|  Oil States International, Inc.\* | 11277 | 68339 |
|  Ranger Energy Services, Inc., Class A | 3760 | 52790 |
|  SEACOR Marine Holdings, Inc.\* | 3942 | 25584 |
|  Select Water Solutions, Inc., Class A | 17997 | 192388 |
|  Smart Sand, Inc. | 5669 | 12132 |
|  TETRA Technologies, Inc.\* | 24650 | 141737 |
|  |  | 1094867 |
|  ***Oil, Gas & Consumable Fuels (3.3%)*** |  |  |
|  Aemetis, Inc.(x)\* | 9187 | 20671 |
|  Amplify Energy Corp.(x)\* | 6569 | 34487 |
|  Ardmore Shipping Corp. | 6732 | 79909 |
|  Berry Corp. | 14676 | 55475 |
|  Centrus Energy Corp., Class A(x)\* | 11062 | 3429994 |
|  Comstock, Inc.\* | 5419 | 18533 |
|  Diversified Energy Co. plc(m) | 11166 | 156436 |
|  Empire Petroleum Corp.(x)\* | 3060 | 13831 |
|  Encore Energy Corp.(x)\* | 35655 | 114453 |
|  Energy Fuels, Inc.(x)\* | 41643 | 639220 |
|  Epsilon Energy Ltd. | 3856 | 19434 |
|  Evolution Petroleum Corp.(x) | 6065 | 29233 |
|  FutureFuel Corp. | 5156 | 20005 |
|  Gevo, Inc.(x)\* | 45021 | 88241 |
|  Granite Ridge Resources, Inc. | 10442 | 56491 |
|  Green Plains, Inc.\* | 12437 | 109321 |
|  Kolibri Global Energy, Inc.\* | 5802 | 32201 |
|  Lightbridge Corp.(x)\* | 4078 | 86494 |
|  NACCO Industries, Inc., Class A | 797 | 33602 |
|  NextNRG, Inc.\* | 3438 | 6292 |
|  Nordic American Tankers Ltd.(x) | 40011 | 125635 |
|  OPAL Fuels, Inc., Class A\* | 4294 | 9447 |
|  Prairie Operating Co.(x)\* | 4520 | 8972 |
|  PrimeEnergy Resources Corp.\* | 67 | 11191 |
|  REX American Resources Corp.\* | 5856 | 179311 |
|  Riley Exploration Permian, Inc. | 2574 | 69781 |
|  SandRidge Energy, Inc. | 6933 | 78204 |
|  Stabilis Solutions, Inc.\* | 359 | 1565 |
|  Summit Midstream Corp.\* | 1808 | 37136 |
|  Teekay Corp. Ltd. | 10215 | 83559 |
|  US Energy Corp.\* | 732 | 864 |
|  VAALCO Energy, Inc.(x) | 20006 | 80424 |
|  Verde Clean Fuels, Inc.\* | 530 | 1617 |
|  W&T Offshore, Inc.(x) | 19429 | 35361 |
|  XCF Global, Inc., Class A\* | 6024 | 7892 |
|  |  | 5775282 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 6870149 |
|  **Financials (12.8%)** |  |  |
|  ***Banks (7.2%)*** |  |  |
|  ACNB Corp. | 2047 | 90150 |
|  Affinity Bancshares, Inc. | 835 | 16466 |
|  Amalgamated Financial Corp. | 4521 | 122745 |
|  Amerant Bancorp, Inc., Class A | 7201 | 138763 |
|  AmeriServ Financial, Inc. | 2264 | 6566 |
|  Ames National Corp. | 1726 | 34900 |
|  Arrow Financial Corp. | 3194 | 90390 |
|  Auburn National Bancorp, Inc. | 445 | 12064 |
|  Bank First Corp.(x) | 1775 | 215325 |
|  Bank of Marin Bancorp | 2848 | 69149 |
|  Bank of the James Financial Group, Inc. | 773 | 12059 |
|  Bank7 Corp. | 840 | 38867 |
|  BankFinancial Corp. | 2049 | 24649 |
|  Bankwell Financial Group, Inc. | 1403 | 62083 |
|  Bar Harbor Bankshares | 2901 | 88364 |
|  BayCom Corp. | 2089 | 60059 |
|  Bayfirst Financial Corp. | 653 | 6830 |
|  BCB Bancorp, Inc. | 3021 | 26222 |
|  Blue Foundry Bancorp\* | 3696 | 33597 |
|  Blue Ridge Bankshares, Inc.\* | 12702 | 53729 |
|  Bogota Financial Corp.\* | 870 | 8030 |
|  Bridgewater Bancshares, Inc.\* | 4044 | 71174 |
|  Broadway Financial Corp.\* | 755 | 5451 |
|  Burke & Herbert Financial Services Corp. | 2633 | 162430 |
|  Business First Bancshares, Inc. | 5488 | 129572 |
|  BV Financial, Inc.(x)\* | 1706 | 27501 |
|  Byline Bancorp, Inc. | 5828 | 161610 |
|  C&F Financial Corp. | 600 | 40320 |
|  California Bancorp\* | 4363 | 72775 |
|  Camden National Corp. | 3273 | 126305 |
|  Capital Bancorp, Inc. | 2275 | 72573 |
|  Capital City Bank Group, Inc. | 2731 | 114128 |
|  Carter Bankshares, Inc.\* | 4453 | 86433 |
|  Catalyst Bancorp, Inc.\* | 788 | 10362 |
|  CB Financial Services, Inc. | 925 | 30719 |
|  Central Pacific Financial Corp. | 5152 | 156312 |
|  Central Plains Bancshares, Inc.\* | 621 | 10153 |
|  CF Bankshares, Inc. | 723 | 17316 |
|  CFSB Bancorp, Inc.\* | 590 | 8343 |
|  Chain Bridge Bancorp, Inc., Class A\* | 468 | 15318 |
|  Chemung Financial Corp. | 838 | 44012 |
|  ChoiceOne Financial Services, Inc. | 2805 | 81233 |
|  Citizens & Northern Corp. | 3010 | 59628 |
|  Citizens Community Bancorp, Inc. | 1937 | 31128 |
|  Citizens Financial Services, Inc. | 902 | 54373 |
|  Civista Bancshares, Inc. | 3591 | 72933 |
|  CNB Financial Corp. | 5453 | 131963 |
|  Coastal Financial Corp.\* | 2509 | 271399 |
|  CoastalSouth Bancshares, Inc.\* | 769 | 16772 |
|  Colony Bankcorp, Inc. | 3276 | 55725 |
|  Community Trust Bancorp, Inc. | 3124 | 174788 |
|  Community West Bancshares | 3305 | 68876 |
|  ConnectOne Bancorp, Inc. | 9231 | 229021 |
|  Dime Community Bancshares, Inc. | 7723 | 230377 |
|  Eagle Bancorp Montana, Inc. | 1418 | 24489 |
|  Eagle Financial Services, Inc. | 928 | 35106 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT MICRO CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ECB Bancorp, Inc.\* | 1548 | $24567 |
|  Equity Bancshares, Inc., Class A | 2724 | 110867 |
|  Esquire Financial Holdings, Inc. | 1405 | 143387 |
|  Farmers & Merchants Bancorp, Inc. | 2483 | 62100 |
|  Farmers National Banc Corp. | 7055 | 101663 |
|  FB Bancorp, Inc.\* | 3425 | 41169 |
|  Fidelity D&D Bancorp, Inc. | 931 | 40806 |
|  Fifth District Bancorp, Inc.\* | 997 | 13808 |
|  Financial Institutions, Inc. | 3811 | 103659 |
|  Finward Bancorp | 664 | 21308 |
|  Finwise Bancorp\* | 1785 | 34611 |
|  First Bancorp, Inc. (The) | 2167 | 56905 |
|  First Bank | 4210 | 68581 |
|  First Business Financial Services, Inc. | 1580 | 80991 |
|  First Capital, Inc. | 633 | 28991 |
|  First Community Bankshares, Inc. | 3024 | 105235 |
|  First Community Corp. | 1481 | 41794 |
|  First Financial Corp. | 2231 | 125918 |
|  First Foundation, Inc.\* | 12245 | 68205 |
|  First Guaranty Bancshares, Inc. | 1170 | 9383 |
|  First Internet Bancorp | 1487 | 33353 |
|  First Mid Bancshares, Inc. | 4080 | 154550 |
|  First National Corp.(x) | 1508 | 34201 |
|  First Northwest Bancorp | 1508 | 11868 |
|  First Savings Financial Group, Inc. | 1080 | 33944 |
|  First Seacoast Bancorp\* | 603 | 6935 |
|  First United Corp.(x) | 1191 | 43793 |
|  First US Bancshares, Inc. | 997 | 12333 |
|  First Western Financial, Inc.\* | 1621 | 37324 |
|  Five Star Bancorp | 3179 | 102364 |
|  Flushing Financial Corp. | 6312 | 87169 |
|  Franklin Financial Services Corp.(x) | 826 | 37996 |
|  FS Bancorp, Inc. | 1330 | 53094 |
|  FVCBankcorp, Inc. | 3019 | 39156 |
|  GBank Financial Holdings, Inc.(x)\* | 1744 | 68487 |
|  Great Southern Bancorp, Inc. | 1642 | 100573 |
|  Greene County Bancorp, Inc. | 1369 | 30939 |
|  Hanmi Financial Corp. | 5884 | 145276 |
|  Hanover Bancorp, Inc.(x) | 904 | 20295 |
|  HarborOne Bancorp, Inc. | 7335 | 99756 |
|  Hawthorn Bancshares, Inc.(x) | 1131 | 35106 |
|  HBT Financial, Inc. | 2353 | 59296 |
|  Heritage Commerce Corp. | 11550 | 114691 |
|  Hingham Institution For Savings (The)(x) | 320 | 84410 |
|  Home Bancorp, Inc. | 1349 | 73284 |
|  Home Federal Bancorp, Inc. of Louisiana | 435 | 5946 |
|  HomeTrust Bancshares, Inc. | 3118 | 127651 |
|  Horizon Bancorp, Inc. | 8337 | 133475 |
|  IF Bancorp, Inc. | 475 | 12265 |
|  Independent Bank Corp. | 3850 | 119254 |
|  Investar Holding Corp. | 1816 | 42149 |
|  John Marshall Bancorp, Inc. | 2509 | 49728 |
|  Kearny Financial Corp. | 10945 | 71909 |
|  Lake Shore Bancorp, Inc. | 636 | 8268 |
|  Landmark Bancorp, Inc. | 939 | 25062 |
|  LCNB Corp. | 2682 | 40203 |
|  LINKBANCORP, Inc. | 4353 | 31037 |
|  Magyar Bancorp, Inc. | 1162 | 19835 |
|  MainStreet Bancshares, Inc. | 1363 | 28391 |
|  Mechanics Bancorp\* | 3685 | 49047 |
|  Mercantile Bank Corp. | 3077 | 138465 |
|  Meridian Corp. | 1692 | 26717 |
|  Metrocity Bankshares, Inc. | 3817 | 105693 |
|  Metropolitan Bank Holding Corp. | 1777 | 132955 |
|  Mid Penn Bancorp, Inc. | 3812 | 109176 |
|  Middlefield Banc Corp. | 1436 | 43094 |
|  Midland States Bancorp, Inc. | 3973 | 68097 |
|  MidWestOne Financial Group, Inc. | 3165 | 89538 |
|  MVB Financial Corp. | 2225 | 55759 |
|  National Bankshares, Inc.(x) | 1267 | 37300 |
|  NB Bancorp, Inc. | 6727 | 118732 |
|  Northeast Bank | 1521 | 152343 |
|  Northeast Community Bancorp, Inc. | 2477 | 50952 |
|  Northfield Bancorp, Inc. | 7082 | 83568 |
|  Northpointe Bancshares, Inc.(x) | 1973 | 33699 |
|  Northrim Bancorp, Inc. | 4208 | 91145 |
|  Norwood Financial Corp.(x) | 1690 | 42960 |
|  NSTS Bancorp, Inc.\* | 791 | 9247 |
|  Oak Valley Bancorp | 1333 | 37551 |
|  Ohio Valley Banc Corp. | 727 | 26884 |
|  Old Second Bancorp, Inc. | 9483 | 163914 |
|  OP Bancorp(x) | 2324 | 32350 |
|  OptimumBank Holdings, Inc.\* | 1671 | 6851 |
|  Orange County Bancorp, Inc. | 2230 | 56218 |
|  Origin Bancorp, Inc. | 5733 | 197903 |
|  Orrstown Financial Services, Inc. | 3655 | 124197 |
|  Parke Bancorp, Inc. | 1926 | 41505 |
|  Pathfinder Bancorp, Inc. | 600 | 9264 |
|  Patriot National Bancorp, Inc.(x)\* | 8921 | 11597 |
|  PB Bankshares, Inc.\* | 440 | 8474 |
|  PCB Bancorp | 2089 | 43869 |
|  Peapack-Gladstone Financial Corp. | 3090 | 85284 |
|  Peoples Bancorp of North Carolina, Inc. | 857 | 26276 |
|  Peoples Bancorp, Inc. | 6687 | 200543 |
|  Peoples Financial Services Corp. | 1820 | 88470 |
|  Pioneer Bancorp, Inc.\* | 2210 | 28863 |
|  Plumas Bancorp | 1133 | 48878 |
|  Ponce Financial Group, Inc.(x)\* | 3829 | 56286 |
|  Preferred Bank | 1963 | 177436 |
|  Primis Financial Corp. | 4224 | 44394 |
|  Princeton Bancorp, Inc. | 1084 | 34515 |
|  Provident Bancorp, Inc.\* | 3033 | 38003 |
|  Provident Financial Holdings, Inc. | 1103 | 17372 |
|  QCR Holdings, Inc. | 3210 | 242804 |
|  RBB Bancorp | 3271 | 61364 |
|  Red River Bancshares, Inc. | 948 | 61449 |
|  Rhinebeck Bancorp, Inc.\* | 895 | 10167 |
|  Richmond Mutual Bancorp, Inc.(x) | 1862 | 26459 |
|  Riverview Bancorp, Inc. | 4089 | 21958 |
|  SB Financial Group, Inc. | 1145 | 22087 |
|  Shore Bancshares, Inc. | 6013 | 98673 |
|  Sierra Bancorp | 2425 | 70107 |
|  SmartFinancial, Inc. | 2831 | 101152 |
|  Sound Financial Bancorp, Inc. | 388 | 17871 |
|  South Plains Financial, Inc. | 2516 | 97243 |
|  Southern First Bancshares, Inc.\* | 1502 | 66268 |
|  Southern Missouri Bancorp, Inc. | 1887 | 99181 |
|  SR Bancorp, Inc.(x) | 1507 | 22741 |
|  Sterling Bancorp, Inc.(r)\* | 3894 |  |
|  Summit State Bank | 957 | 11398 |
|  Texas Community Bancshares, Inc. | 436 | 6998 |
|  Third Coast Bancshares, Inc.\* | 2496 | 94773 |
|  Timberland Bancorp, Inc. | 1459 | 48556 |
|  TrustCo Bank Corp. | 3604 | 130825 |
|  Union Bankshares, Inc.(x) | 769 | 19040 |
|  United Bancorp, Inc. | 1079 | 15074 |
|  United Security Bancshares | 2779 | 25928 |
|  Unity Bancorp, Inc. | 1416 | 69200 |
|  Univest Financial Corp. | 5547 | 166521 |
|  USCB Financial Holdings, Inc. | 2093 | 36523 |
|  Virginia National Bankshares Corp. | 929 | 36054 |
|  Washington Trust Bancorp, Inc. | 3710 | 107219 |
|  West Bancorp, Inc. | 2987 | 60696 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT MICRO CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Western New England Bancorp, Inc.(x) | 3496 | $41987 |
|  |  | 12566639 |
|  ***Capital Markets (1.4%)*** |  |  |
|  Aether Holdings, Inc.\* | 418 | 2521 |
|  AlTi Global, Inc.(x)\* | 8255 | 29388 |
|  B Riley Financial, Inc.\* | 3013 | 18003 |
|  Bakkt Holdings, Inc., Class A(x)\* | 2076 | 69858 |
|  Binah Capital Group, Inc.(x)\* | 717 | 1233 |
|  Diamond Hill Investment Group, Inc. | 490 | 68605 |
|  Dominari Holdings, Inc.(x) | 1457 | 10330 |
|  Forge Global Holdings, Inc.(x)\* | 2017 | 34087 |
|  Great Elm Group, Inc.\* | 3025 | 7411 |
|  Hennessy Advisors, Inc. | 890 | 9372 |
|  Heritage Global, Inc.\* | 6544 | 10863 |
|  MarketWise, Inc. | 342 | 5653 |
|  Miami International Holdings, Inc.\* | 19212 | 773475 |
|  Open Lending Corp.(x)\* | 20247 | 42721 |
|  Piper Sandler Cos. | 3767 | 1307112 |
|  Siebert Financial Corp.(x)\* | 2773 | 8097 |
|  Silvercrest Asset Management Group, Inc., Class A | 1551 | 24428 |
|  Value Line, Inc. | 154 | 6018 |
|  Westwood Holdings Group, Inc. | 1482 | 24438 |
|  |  | 2453613 |
|  ***Consumer Finance (1.2%)*** |  |  |
|  Atlanticus Holdings Corp.\* | 1034 | 60572 |
|  Consumer Portfolio Services, Inc.\* | 1965 | 14836 |
|  Dave, Inc.\* | 7042 | 1403823 |
|  DeFi Development Corp.(x)\* | 2760 | 42255 |
|  LendingTree, Inc.\* | 2159 | 139752 |
|  Medallion Financial Corp. | 3219 | 32512 |
|  NerdWallet, Inc., Class A\* | 7926 | 85284 |
|  Old Market Capital Corp.\* | 936 | 4773 |
|  Oportun Financial Corp.\* | 7511 | 46343 |
|  OppFi, Inc. | 4841 | 54848 |
|  Regional Management Corp. | 1756 | 68414 |
|  Vroom, Inc.\* | 197 | 5325 |
|  World Acceptance Corp.\* | 506 | 85585 |
|  |  | 2044322 |
|  ***Financial Services (1.5%)*** |  |  |
|  Acacia Research Corp.(x)\* | 6204 | 20163 |
|  Alerus Financial Corp. | 4543 | 100582 |
|  Better Home & Finance Holding Co.(x)\* | 1009 | 56645 |
|  Cantaloupe, Inc.\* | 11404 | 120540 |
|  Cass Information Systems, Inc. | 2355 | 92622 |
|  Finance of America Cos., Inc., Class A(x)\* | 827 | 18550 |
|  FlexShopper, Inc.\* | 1919 | 1230 |
|  International Money Express, Inc.\* | 5306 | 74125 |
|  loanDepot, Inc., Class A(x)\* | 15923 | 48884 |
|  NewtekOne, Inc. | 4906 | 56174 |
|  Onity Group, Inc.\* | 1271 | 50789 |
|  Paymentus Holdings, Inc., Class A\* | 56834 | 1739120 |
|  Paysign, Inc.\* | 6749 | 42451 |
|  Priority Technology Holdings, Inc.\* | 4928 | 33855 |
|  Security National Financial Corp., Class A\* | 2959 | 25655 |
|  SWK Holdings Corp. | 637 | 9268 |
|  Triller Group, Inc.\* | 20571 | 17076 |
|  Usio, Inc.\* | 3761 | 5341 |
|  Velocity Financial, Inc.\* | 1860 | 33740 |
|  Waterstone Financial, Inc. | 2911 | 45412 |
|  XBP Global Holdings, Inc.\* | 2345 | 1892 |
|  |  | 2594114 |
|  ***Insurance (0.9%)*** |  |  |
|  Abacus Global Management, Inc.\* | 7708 | 44167 |
|  Ambac Financial Group, Inc.\* | 8372 | 69822 |
|  American Coastal Insurance Corp. | 4697 | 53499 |
|  American Integrity Insurance Group, Inc.\* | 1433 | 31970 |
|  Atlantic American Corp. | 904 | 2599 |
|  Citizens, Inc., Class A(x)\* | 9000 | 47250 |
|  Crawford & Co., Class A | 3164 | 33855 |
|  Donegal Group, Inc., Class A | 3147 | 61020 |
|  eHealth, Inc.\* | 5390 | 23231 |
|  GoHealth, Inc., Class A\* | 893 | 4304 |
|  Greenlight Capital Re Ltd., Class A\* | 5078 | 64491 |
|  Heritage Insurance Holdings, Inc.\* | 4443 | 111875 |
|  Hippo Holdings, Inc.(x)\* | 3478 | 125765 |
|  Investors Title Co. | 276 | 73921 |
|  James River Group Holdings Ltd. | 7303 | 40532 |
|  Kestrel Group Ltd. | 491 | 13409 |
|  Kingstone Cos., Inc. | 2142 | 31487 |
|  Kingsway Financial Services, Inc.(x)\* | 4060 | 59357 |
|  MBIA, Inc.(x)\* | 8889 | 66223 |
|  Neptune Insurance Holdings, Inc., Class A\* | 15362 | 307240 |
|  NI Holdings, Inc.\* | 1477 | 20028 |
|  Selectquote, Inc.\* | 26313 | 51573 |
|  Tiptree, Inc., Class A | 4556 | 87339 |
|  United Fire Group, Inc. | 4094 | 124540 |
|  Universal Insurance Holdings, Inc. | 4944 | 130027 |
|  |  | 1679524 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.6%)*** |  |  |
|  ACRES Commercial Realty Corp. (REIT)(x)\* | 1218 | 25773 |
|  Advanced Flower Capital, Inc. (REIT)(x) | 3324 | 12731 |
|  AG Mortgage Investment Trust, Inc. (REIT) | 5574 | 40356 |
|  Angel Oak Mortgage REIT, Inc. (REIT) | 2381 | 22310 |
|  Ares Commercial Real Estate Corp. (REIT)(x) | 10375 | 46791 |
|  Cherry Hill Mortgage Investment Corp. (REIT) | 6774 | 16190 |
|  Chicago Atlantic Real Estate Finance, Inc. (REIT) | 3476 | 44458 |
|  Ellington Financial, Inc. (REIT)(x) | 18059 | 234406 |
|  Franklin BSP Realty Trust, Inc. (REIT)(x) | 15936 | 173065 |
|  Granite Point Mortgage Trust, Inc. (REIT) | 8807 | 26421 |
|  Invesco Mortgage Capital, Inc. (REIT)(x) | 13192 | 99731 |
|  Lument Finance Trust, Inc. (REIT) | 8590 | 17352 |
|  Manhattan Bridge Capital, Inc. (REIT) | 1766 | 9748 |
|  Nexpoint Real Estate Finance, Inc. (REIT) | 1591 | 22560 |
|  Orchid Island Capital, Inc. (REIT)(x) | 24299 | 170336 |
|  Rithm Property Trust, Inc. (REIT) | 7619 | 19200 |
|  Sachem Capital Corp. (REIT)(x) | 8460 | 9390 |
|  Seven Hills Realty Trust (REIT) | 2644 | 27260 |
|  Sunrise Realty Trust, Inc. (REIT) | 1930 | 20053 |
|  |  | 1038131 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 22376343 |
|  **Health Care (26.3%)** |  |  |
|  ***Biotechnology (12.4%)*** |  |  |
|  4D Molecular Therapeutics, Inc.\* | 7642 | 66409 |
|  89bio, Inc.\* | 24176 | 355387 |
|  Abeona Therapeutics, Inc.(x)\* | 8294 | 43792 |
|  Absci Corp.(x)\* | 25093 | 76283 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT MICRO CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Achieve Life Sciences, Inc.\* | 5985 | $18853 |
|  Acrivon Therapeutics, Inc.(x)\* | 2533 | 4585 |
|  Actinium Pharmaceuticals, Inc.\* | 5849 | 9358 |
|  Actuate Therapeutics, Inc.\* | 1186 | 7934 |
|  Acumen Pharmaceuticals, Inc.\* | 6824 | 11669 |
|  ADC Therapeutics SA\* | 13707 | 54828 |
|  Adverum Biotechnologies, Inc.(x)\* | 3449 | 15624 |
|  Agenus, Inc.\* | 4790 | 18442 |
|  Akebia Therapeutics, Inc.(x)\* | 48167 | 131496 |
|  Aldeyra Therapeutics, Inc.\* | 10445 | 54523 |
|  Alector, Inc.\* | 13323 | 39436 |
|  Altimmune, Inc.\* | 15588 | 58767 |
|  AnaptysBio, Inc.(x)\* | 3813 | 116754 |
|  Anavex Life Sciences Corp.(x)\* | 16115 | 143424 |
|  Anika Therapeutics, Inc.\* | 2368 | 22259 |
|  Anixa Biosciences, Inc.\* | 5728 | 18902 |
|  Annexon, Inc.\* | 18078 | 55138 |
|  Arbutus Biopharma Corp.\* | 29497 | 133916 |
|  Arcellx, Inc.\* | 10362 | 850720 |
|  Arcturus Therapeutics Holdings, Inc.(x)\* | 4893 | 90178 |
|  Armata Pharmaceuticals, Inc.\* | 1977 | 5891 |
|  ArriVent Biopharma, Inc.\* | 4732 | 87305 |
|  Artiva Biotherapeutics, Inc.\* | 915 | 2626 |
|  Assembly Biosciences, Inc.\* | 875 | 22400 |
|  Astria Therapeutics, Inc.\* | 7094 | 51644 |
|  Atara Biotherapeutics, Inc.\* | 624 | 8942 |
|  aTyr Pharma, Inc.(x)\* | 17199 | 12407 |
|  Aura Biosciences, Inc.(x)\* | 8157 | 50410 |
|  Avalo Therapeutics, Inc.\* | 1514 | 19243 |
|  Avita Medical, Inc.(x)\* | 2318 | 11845 |
|  Benitec Biopharma, Inc.(x)\* | 2817 | 39523 |
|  Beyondspring, Inc.(x)\* | 6039 | 10931 |
|  Biomea Fusion, Inc.(x)\* | 9532 | 19255 |
|  Black Diamond Therapeutics, Inc.(x)\* | 8773 | 33250 |
|  Boundless Bio, Inc.\* | 2961 | 3642 |
|  Bright Minds Biosciences, Inc.\* | 884 | 53623 |
|  C4 Therapeutics, Inc.\* | 10928 | 24260 |
|  Cabaletta Bio, Inc.\* | 16404 | 38385 |
|  CAMP4 Therapeutics Corp.(x)\* | 1233 | 3699 |
|  Candel Therapeutics, Inc.(x)\* | 7820 | 39882 |
|  Capricor Therapeutics, Inc.(x)\* | 7292 | 52575 |
|  Cardiff Oncology, Inc.(x)\* | 11980 | 24679 |
|  CareDx, Inc.\* | 10502 | 152699 |
|  Cartesian Therapeutics, Inc.(x)\* | 1947 | 19898 |
|  Celcuity, Inc.(x)\* | 38864 | 1919882 |
|  Celularity, Inc., Class A\* | 2156 | 4463 |
|  CervoMed, Inc.(x)\* | 1068 | 8640 |
|  Cibus, Inc., Class A(x)\* | 3876 | 5000 |
|  Cidara Therapeutics, Inc.\* | 17796 | 1704145 |
|  Climb Bio, Inc.(x)\* | 3907 | 7853 |
|  Cogent Biosciences, Inc.\* | 25162 | 361326 |
|  Coherus Oncology, Inc.(x)\* | 21401 | 35098 |
|  Compass Therapeutics, Inc.\* | 19116 | 66906 |
|  Corbus Pharmaceuticals Holdings, Inc.(x)\* | 2022 | 25578 |
|  Corvus Pharmaceuticals, Inc.(x)\* | 11408 | 84077 |
|  Coya Therapeutics, Inc.\* | 3040 | 17328 |
|  Cullinan Therapeutics, Inc.\* | 9808 | 58161 |
|  Design Therapeutics, Inc.(x)\* | 4658 | 35075 |
|  DiaMedica Therapeutics, Inc.(x)\* | 6083 | 41790 |
|  Dianthus Therapeutics, Inc.\* | 3184 | 125290 |
|  Dyadic International, Inc.\* | 3140 | 3705 |
|  Editas Medicine, Inc.\* | 16738 | 58081 |
|  Eledon Pharmaceuticals, Inc.(x)\* | 11371 | 29451 |
|  Elicio Therapeutics, Inc.(x)\* | 1719 | 18806 |
|  Elutia, Inc.\* | 4319 | 3845 |
|  Emergent BioSolutions, Inc.\* | 10541 | 92972 |
|  Enanta Pharmaceuticals, Inc.\* | 3963 | 47437 |
|  Entrada Therapeutics, Inc.\* | 5207 | 30201 |
|  Erasca, Inc.(x)\* | 33364 | 72734 |
|  Estrella Immunopharma, Inc.\* | 2373 | 2824 |
|  Exagen, Inc.\* | 2116 | 23255 |
|  Exicure, Inc.\* | 284 | 1162 |
|  eXoZymes, Inc.\* | 274 | 4041 |
|  Fate Therapeutics, Inc.\* | 20004 | 25205 |
|  Fennec Pharmaceuticals, Inc.\* | 4604 | 43093 |
|  Fibrobiologics, Inc.(x)\* | 5089 | 2780 |
|  Foghorn Therapeutics, Inc.\* | 6364 | 31120 |
|  Forte Biosciences, Inc.\* | 1087 | 16305 |
|  Fortress Biotech, Inc.(x)\* | 4839 | 17880 |
|  Gain Therapeutics, Inc.\* | 5823 | 10307 |
|  Galectin Therapeutics, Inc.(x)\* | 8571 | 36298 |
|  Genelux Corp.\* | 6321 | 26548 |
|  Gossamer Bio, Inc.\* | 37139 | 97676 |
|  Greenwich Lifesciences, Inc.(x)\* | 1162 | 11562 |
|  Heron Therapeutics, Inc.(x)\* | 30219 | 38076 |
|  Humacyte, Inc.\* | 23493 | 40878 |
|  Immix Biopharma, Inc.\* | 3327 | 6953 |
|  ImmuCell Corp.\* | 1094 | 7078 |
|  Immuneering Corp., Class A(x)\* | 5288 | 37016 |
|  Immunic, Inc.(x)\* | 18110 | 15966 |
|  Immunome, Inc.\* | 14882 | 174268 |
|  Inhibikase Therapeutics, Inc.\* | 12250 | 19845 |
|  Inhibrx Biosciences, Inc.\* | 1797 | 60523 |
|  Inmune Bio, Inc.(x)\* | 3509 | 7264 |
|  Inovio Pharmaceuticals, Inc.(x)\* | 6624 | 15500 |
|  Insight Molecular Diagnostics, Inc.\* | 2330 | 7736 |
|  Instil Bio, Inc.(x)\* | 726 | 12966 |
|  Ironwood Pharmaceuticals, Inc., Class A\* | 31206 | 40880 |
|  Jade Biosciences, Inc.(x) | 6437 | 55551 |
|  Jasper Therapeutics, Inc.\* | 2787 | 6633 |
|  Kalaris Therapeutics, Inc.(x)\* | 907 | 5242 |
|  KalVista Pharmaceuticals, Inc.\* | 7269 | 88536 |
|  Karyopharm Therapeutics, Inc.(x)\* | 1425 | 9320 |
|  Kezar Life Sciences, Inc.\* | 1195 | 4661 |
|  Kodiak Sciences, Inc.\* | 6333 | 103671 |
|  Korro Bio, Inc.\* | 1296 | 62065 |
|  Kyverna Therapeutics, Inc.(x)\* | 4246 | 25476 |
|  Lantern Pharma, Inc.(x)\* | 1685 | 7330 |
|  Larimar Therapeutics, Inc.\* | 8898 | 28741 |
|  Lexeo Therapeutics, Inc.\* | 4538 | 30132 |
|  MacroGenics, Inc.\* | 10632 | 17862 |
|  MAIA Biotechnology, Inc.\* | 4673 | 7196 |
|  MDxHealth SA\* | 7575 | 35224 |
|  MediciNova, Inc.\* | 9049 | 11402 |
|  Medicus Pharma Ltd.\* | 1256 | 2908 |
|  MeiraGTx Holdings plc(x)\* | 8036 | 66136 |
|  Metagenomi, Inc.\* | 5198 | 12319 |
|  MiMedx Group, Inc.\* | 22853 | 159514 |
|  Mineralys Therapeutics, Inc.\* | 7593 | 287927 |
|  Mirum Pharmaceuticals, Inc.\* | 31114 | 2280967 |
|  Monopar Therapeutics, Inc.\* | 693 | 56597 |
|  Monte Rosa Therapeutics, Inc.(x)\* | 8864 | 65682 |
|  Mural Oncology plc\* | 3256 | 6740 |
|  Neurogene, Inc.(x)\* | 1940 | 33620 |
|  Nkarta, Inc.\* | 8059 | 16682 |
|  Nurix Therapeutics, Inc.\* | 14627 | 135153 |
|  Nuvectis Pharma, Inc.\* | 2660 | 16013 |
|  Olema Pharmaceuticals, Inc.(x)\* | 11629 | 113848 |
|  OnKure Therapeutics, Inc., Class A\* | 1762 | 4846 |
|  Organogenesis Holdings, Inc., Class A(x)\* | 13200 | 55704 |
|  ORIC Pharmaceuticals, Inc.(x)\* | 11208 | 134496 |
|  Oruka Therapeutics, Inc.(x)\* | 5344 | 102765 |
|  OS Therapies, Inc.(x)\* | 2789 | 5466 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT MICRO CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Outlook Therapeutics, Inc.(x)\* | 4392 | $4656 |
|  Palvella Therapeutics, Inc.\* | 1329 | 83315 |
|  PDS Biotechnology Corp.\* | 9304 | 9397 |
|  PepGen, Inc.(x)\* | 2989 | 13809 |
|  Perspective Therapeutics, Inc.(x)\* | 11743 | 40278 |
|  PMV Pharmaceuticals, Inc.\* | 8718 | 12205 |
|  Praxis Precision Medicines, Inc.\* | 3480 | 184440 |
|  Precigen, Inc.(x)\* | 29082 | 95680 |
|  Precision BioSciences, Inc.\* | 1746 | 9638 |
|  Prime Medicine, Inc.(x)\* | 14419 | 79881 |
|  Protalix BioTherapeutics, Inc.(x)\* | 13944 | 30956 |
|  Protara Therapeutics, Inc.\* | 5911 | 25713 |
|  Puma Biotechnology, Inc.\* | 8406 | 44636 |
|  Pyxis Oncology, Inc.\* | 9541 | 21181 |
|  Quince Therapeutics, Inc.\* | 7357 | 11992 |
|  Rein Therapeutics, Inc.\* | 3982 | 4559 |
|  Replimune Group, Inc.(x)\* | 13350 | 55936 |
|  Rezolute, Inc.\* | 14949 | 140521 |
|  Rhythm Pharmaceuticals, Inc.\* | 19438 | 1963044 |
|  Rigel Pharmaceuticals, Inc.\* | 3385 | 95897 |
|  Sagimet Biosciences, Inc., Class A(x)\* | 5206 | 35713 |
|  Savara, Inc.(x)\* | 22209 | 79286 |
|  Scholar Rock Holding Corp.\* | 20379 | 758914 |
|  SELLAS Life Sciences Group, Inc.\* | 18658 | 30039 |
|  Senti Biosciences, Inc.\* | 1452 | 2047 |
|  Sera Prognostics, Inc., Class A(x)\* | 4625 | 14153 |
|  Seres Therapeutics, Inc.\* | 1315 | 25301 |
|  Serina Therapeutics, Inc.(x)\* | 658 | 3527 |
|  Sionna Therapeutics, Inc.(x)\* | 2354 | 69231 |
|  Skye Bioscience, Inc.\* | 3385 | 13303 |
|  Soleno Therapeutics, Inc.(x)\* | 8236 | 556754 |
|  Solid Biosciences, Inc.\* | 11337 | 69949 |
|  Stoke Therapeutics, Inc.(x)\* | 8691 | 204239 |
|  Surrozen, Inc.\* | 902 | 11622 |
|  Sutro Biopharma, Inc.(x)\* | 14791 | 12845 |
|  Tango Therapeutics, Inc.(x)\* | 13850 | 116340 |
|  Taysha Gene Therapies, Inc.\* | 40959 | 133936 |
|  Tectonic Therapeutic, Inc.(x)\* | 2047 | 32117 |
|  Tevogen Bio Holdings, Inc.(x)\* | 5850 | 4594 |
|  Tonix Pharmaceuticals Holding Corp.(x)\* | 1695 | 40951 |
|  Tourmaline Bio, Inc.\* | 3396 | 162431 |
|  Travere Therapeutics, Inc.\* | 18817 | 449726 |
|  TriSalus Life Sciences, Inc.\* | 3661 | 17024 |
|  TScan Therapeutics, Inc.\* | 9055 | 16480 |
|  TuHURA Biosciences, Inc.\* | 5171 | 12824 |
|  Tyra Biosciences, Inc.(x)\* | 4592 | 64242 |
|  uniQure NV\* | 29327 | 1711817 |
|  UroGen Pharma Ltd.(x)\* | 7116 | 141964 |
|  Vanda Pharmaceuticals, Inc.\* | 10496 | 52375 |
|  Verastem, Inc.\* | 8797 | 77678 |
|  Viridian Therapeutics, Inc.\* | 13657 | 294718 |
|  Vistagen Therapeutics, Inc.\* | 5301 | 18819 |
|  Voyager Therapeutics, Inc.(x)\* | 9080 | 42404 |
|  vTv Therapeutics, Inc., Class A\* | 310 | 7212 |
|  Whitehawk Therapeutics, Inc.\* | 7688 | 14607 |
|  XBiotech, Inc.\* | 3866 | 10284 |
|  XOMA Royalty Corp.\* | 1808 | 69680 |
|  Zenas Biopharma, Inc.(x)\* | 3118 | 69220 |
|  Zentalis Pharmaceuticals, Inc.\* | 11776 | 17782 |
|  Zura Bio Ltd., Class A\* | 7768 | 33635 |
|  Zymeworks, Inc.\* | 9695 | 165591 |
|  |  | 21530073 |
|  ***Health Care Equipment & Supplies (3.9%)*** |  |  |
|  Accuray, Inc.\* | 19373 | 32353 |
|  AngioDynamics, Inc.\* | 7572 | 84579 |
|  Anteris Technologies Global Corp.(x)\* | 6441 | 28984 |
|  Apyx Medical Corp.\* | 6907 | 14781 |
|  Artivion, Inc.\* | 57580 | 2437937 |
|  Axogen, Inc.\* | 8456 | 150855 |
|  Beta Bionics, Inc.(x)\* | 48821 | 970073 |
|  Bioventus, Inc., Class A(x)\* | 8893 | 59494 |
|  Butterfly Network, Inc., Class A\* | 36996 | 71402 |
|  CapsoVision, Inc.(x)\* | 767 | 3712 |
|  Carlsmed, Inc.(x)\* | 1230 | 16470 |
|  Ceribell, Inc.(x)\* | 4783 | 54957 |
|  Cerus Corp.\* | 36300 | 57717 |
|  ClearPoint Neuro, Inc.(x)\* | 4999 | 108928 |
|  CVRx, Inc.(x)\* | 3058 | 24678 |
|  CytoSorbents Corp.\* | 11258 | 10516 |
|  Delcath Systems, Inc.\* | 5769 | 62017 |
|  ElectroCore, Inc.\* | 1267 | 6272 |
|  Electromed, Inc.\* | 1322 | 32455 |
|  Envoy Medical, Inc.(x)\* | 1182 | 917 |
|  enVVeno Medical Corp.(x)\* | 3607 | 3268 |
|  Femasys, Inc.\* | 4686 | 1651 |
|  FONAR Corp.\* | 1241 | 18689 |
|  Fractyl Health, Inc.\* | 5637 | 8963 |
|  HeartBeam, Inc.\* | 5788 | 9550 |
|  Inogen, Inc.\* | 4622 | 37762 |
|  InspireMD, Inc.\* | 3827 | 9223 |
|  iRadimed Corp. | 1580 | 112433 |
|  Kestra Medical Technologies Ltd.(x)\* | 35089 | 833715 |
|  Kewaunee Scientific Corp.\* | 404 | 17231 |
|  KORU Medical Systems, Inc.\* | 8250 | 31597 |
|  LENSAR, Inc.(x)\* | 1796 | 22181 |
|  Lucid Diagnostics, Inc.(x)\* | 14305 | 14448 |
|  Microbot Medical, Inc.(x)\* | 6500 | 19825 |
|  Modular Medical, Inc.\* | 9543 | 6678 |
|  Monogram Technologies, Inc.\* | 2887 | 16947 |
|  Myomo, Inc.(x)\* | 6835 | 6097 |
|  Neuronetics, Inc.(x)\* | 6875 | 18769 |
|  NeuroPace, Inc.\* | 4766 | 49137 |
|  Odysight.ai, Inc.\* | 1188 | 5346 |
|  OraSure Technologies, Inc.\* | 14832 | 47611 |
|  Orchestra BioMed Holdings, Inc.\* | 5001 | 12402 |
|  Orthofix Medical, Inc.\* | 7494 | 109712 |
|  OrthoPediatrics Corp.\* | 3187 | 59055 |
|  Outset Medical, Inc.(x)\* | 3182 | 44930 |
|  Owlet, Inc.\* | 2123 | 17982 |
|  Precision Optics Corp., Inc.\* | 1048 | 4559 |
|  Pro-Dex, Inc.(x)\* | 440 | 14894 |
|  Pulmonx Corp.\* | 8168 | 13232 |
|  Pulse Biosciences, Inc.(x)\* | 3428 | 60676 |
|  Rockwell Medical, Inc.\* | 6059 | 7271 |
|  Sanara Medtech, Inc.\* | 635 | 20148 |
|  SANUWAVE Health, Inc.\* | 1396 | 52322 |
|  Semler Scientific, Inc.(x)\* | 2319 | 69570 |
|  Sensus Healthcare, Inc.\* | 2971 | 9329 |
|  Shoulder Innovations, Inc.(x)\* | 849 | 10655 |
|  SI-BONE, Inc.\* | 7350 | 108192 |
|  Sight Sciences, Inc.(x)\* | 8074 | 27775 |
|  Spectral AI, Inc.\* | 3419 | 7795 |
|  Stereotaxis, Inc.\* | 11142 | 34652 |
|  Surmodics, Inc.\* | 2683 | 80195 |
|  Tactile Systems Technology, Inc.\* | 4392 | 60785 |
|  Tela Bio, Inc.\* | 6142 | 9152 |
|  TransMedics Group, Inc.(x)\* | 3144 | 352757 |
|  Utah Medical Products, Inc. | 572 | 36019 |
|  Vicarious Surgical, Inc., Class A\* | 609 | 3356 |
|  Vivani Medical, Inc.\* | 6125 | 8636 |
|  Zimvie, Inc.\* | 5382 | 101935 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT MICRO CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Zynex, Inc.(x)\* | 2973 | $4311 |
|  |  | 6862515 |
|  ***Health Care Providers & Services (2.3%)*** |  |  |
|  AirSculpt Technologies, Inc.(x)\* | 3101 | 24870 |
|  Aveanna Healthcare Holdings, Inc.\* | 9429 | 83635 |
|  Castle Biosciences, Inc.\* | 5509 | 125440 |
|  Cross Country Healthcare, Inc.\* | 5994 | 85115 |
|  Cryo-Cell International, Inc. | 1052 | 4881 |
|  DocGo, Inc.\* | 17823 | 24239 |
|  GeneDx Holdings Corp., Class A\* | 15726 | 1694319 |
|  Hinge Health, Inc., Class A\* | 3884 | 190627 |
|  InfuSystem Holdings, Inc.\* | 3911 | 40518 |
|  Joint Corp. (The)\* | 2656 | 25338 |
|  Nano-X Imaging Ltd.(x)\* | 12782 | 47293 |
|  National Research Corp. | 2473 | 31605 |
|  NeueHealth, Inc.\* | 560 | 3735 |
|  Nutex Health, Inc.(x)\* | 666 | 68811 |
|  Omada Health, Inc.(x)\* | 44531 | 984581 |
|  Oncology Institute, Inc. (The)(x)\* | 11597 | 40474 |
|  P3 Health Partners, Inc.\* | 252 | 2313 |
|  Pennant Group, Inc. (The)\* | 6551 | 165216 |
|  Performant Healthcare, Inc.(x)\* | 13705 | 105940 |
|  Prenetics Global Ltd., Class A\* | 1806 | 24020 |
|  Quipt Home Medical Corp.\* | 7588 | 19805 |
|  SBC Medical Group Holdings, Inc.(x)\* | 1100 | 4774 |
|  Sonida Senior Living, Inc.\* | 1061 | 29411 |
|  Talkspace, Inc.\* | 27525 | 75969 |
|  Viemed Healthcare, Inc.\* | 6925 | 47021 |
|  |  | 3949950 |
|  ***Health Care Technology (1.3%)*** |  |  |
|  CareCloud, Inc.\* | 7166 | 23003 |
|  Claritev Corp.\* | 1468 | 77921 |
|  Firefly Neuroscience, Inc.\* | 1338 | 3894 |
|  Forian, Inc.\* | 3232 | 7272 |
|  Health Catalyst, Inc.\* | 13221 | 37680 |
|  HealthStream, Inc. | 4727 | 133490 |
|  HeartFlow, Inc.(x)\* | 28965 | 974962 |
|  LifeMD, Inc.(x)\* | 7277 | 49411 |
|  OptimizeRx Corp.\* | 3064 | 62812 |
|  Phreesia, Inc.\* | 35646 | 838394 |
|  Simulations Plus, Inc.(x)\* | 3183 | 47968 |
|  TruBridge, Inc.\* | 1966 | 39654 |
|  |  | 2296461 |
|  ***Life Sciences Tools & Services (2.1%)*** |  |  |
|  Adaptive Biotechnologies Corp.\* | 193026 | 2887669 |
|  Alpha Teknova, Inc.(x)\* | 2304 | 14262 |
|  Atlantic International Corp.(x)\* | 1868 | 5697 |
|  BioLife Solutions, Inc.\* | 7380 | 188264 |
|  Champions Oncology, Inc.\* | 1755 | 11364 |
|  Codexis, Inc.\* | 16247 | 39643 |
|  Ginkgo Bioworks Holdings, Inc., Class A\* | 7571 | 110385 |
|  Inotiv, Inc.\* | 5300 | 7685 |
|  Lifecore Biomedical, Inc.(x)\* | 5451 | 40119 |
|  MaxCyte, Inc.\* | 19566 | 30914 |
|  Niagen Bioscience, Inc.\* | 10064 | 93897 |
|  OmniAb, Inc.\* | 17619 | 28190 |
|  Personalis, Inc.\* | 9565 | 62364 |
|  Quanterix Corp.\* | 8028 | 43592 |
|  Quantum-Si, Inc.(x)\* | 29625 | 41771 |
|  Rapid Micro Biosystems, Inc., Class A\* | 5923 | 19783 |
|  Seer, Inc., Class A(x)\* | 9079 | 19701 |
|  Standard BioTools, Inc.\* | 58109 | 75542 |
|  |  | 3720842 |
|  ***Pharmaceuticals (4.3%)*** |  |  |
|  Aardvark Therapeutics, Inc.\* | 1155 | 15350 |
|  Aclaris Therapeutics, Inc.\* | 16264 | 30902 |
|  ALT5 Sigma Corp.(x)\* | 2604 | 7005 |
|  Alto Neuroscience, Inc.(x)\* | 4120 | 16562 |
|  Alumis, Inc.(x)\* | 10632 | 42422 |
|  Amylyx Pharmaceuticals, Inc.\* | 13390 | 181970 |
|  AN2 Therapeutics, Inc.\* | 5334 | 6774 |
|  Anebulo Pharmaceuticals, Inc.\* | 1872 | 4680 |
|  Aquestive Therapeutics, Inc.(x)\* | 16730 | 93521 |
|  Atea Pharmaceuticals, Inc.\* | 14371 | 41676 |
|  BioAge Labs, Inc.(x)\* | 4454 | 26189 |
|  Biote Corp., Class A(x)\* | 5350 | 16050 |
|  Cadrenal Therapeutics, Inc.\* | 264 | 3637 |
|  Cassava Sciences, Inc.\* | 7700 | 22407 |
|  Collegium Pharmaceutical, Inc.\* | 6205 | 217113 |
|  Contineum Therapeutics, Inc., Class A\* | 2321 | 27272 |
|  CorMedix, Inc.(x)\* | 13655 | 158808 |
|  Cumberland Pharmaceuticals, Inc.\* | 1488 | 4643 |
|  Enliven Therapeutics, Inc.(x)\* | 8097 | 165746 |
|  Esperion Therapeutics, Inc.(x)\* | 39181 | 103830 |
|  Eton Pharmaceuticals, Inc.\* | 4915 | 106803 |
|  Evolus, Inc.\* | 11274 | 69222 |
|  EyePoint Pharmaceuticals, Inc.\* | 11379 | 162037 |
|  Fulcrum Therapeutics, Inc.\* | 8337 | 76700 |
|  Harrow, Inc.(x)\* | 6119 | 294813 |
|  ImageneBio, Inc.\* | 1750 | 14262 |
|  Journey Medical Corp.(x)\* | 2503 | 17821 |
|  LENZ Therapeutics, Inc.(x)\* | 18314 | 853066 |
|  Liquidia Corp.\* | 12467 | 283500 |
|  Maze Therapeutics, Inc.(x)\* | 3760 | 97497 |
|  MBX Biosciences, Inc.(x)\* | 2939 | 51432 |
|  MediWound Ltd.(x)\* | 1476 | 26597 |
|  Mind Medicine MindMed, Inc.(x)\* | 14690 | 173195 |
|  Neonc Technologies Holdings, Inc.\* | 373 | 3387 |
|  NRX Pharmaceuticals, Inc.\* | 2977 | 9824 |
|  Nutriband, Inc.\* | 668 | 4709 |
|  Nutriband, Inc. (Preference)(q)(r)\* | 167 |  |
|  Nuvation Bio, Inc.(x)\* | 48350 | 178895 |
|  Omeros Corp.(x)\* | 12387 | 50787 |
|  Oramed Pharmaceuticals, Inc.(x)\* | 7025 | 18546 |
|  Phathom Pharmaceuticals, Inc.(x)\* | 8089 | 95208 |
|  Phibro Animal Health Corp., Class A | 3949 | 159777 |
|  Pliant Therapeutics, Inc.\* | 11562 | 17112 |
|  Rafael Holdings, Inc., Class B\* | 3161 | 4299 |
|  Rani Therapeutics Holdings, Inc., Class A\* | 4548 | 2273 |
|  Rapport Therapeutics, Inc.\* | 3395 | 100831 |
|  Scilex Holding Co.(x)\* | 1044 | 20546 |
|  scPharmaceuticals, Inc.\* | 7556 | 42842 |
|  SIGA Technologies, Inc. | 8045 | 73612 |
|  Tarsus Pharmaceuticals, Inc.\* | 40414 | 2401804 |
|  Telomir Pharmaceuticals, Inc.\* | 3635 | 5053 |
|  Terns Pharmaceuticals, Inc.\* | 13946 | 104734 |
|  Theravance Biopharma, Inc.\* | 7313 | 106770 |
|  Third Harmonic Bio, Inc.(r)\* | 5280 |  |
|  Trevi Therapeutics, Inc.\* | 16926 | 154873 |
|  Tvardi Therapeutics, Inc.(x)\* | 891 | 34722 |
|  Ventyx Biosciences, Inc.\* | 12564 | 39074 |
|  WaVe Life Sciences Ltd.\* | 21689 | 158763 |
|  Xeris Biopharma Holdings, Inc.\* | 29884 | 243256 |
|  Zevra Therapeutics, Inc.(x)\* | 10455 | 99427 |
|  |  | 7544626 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 45904467 |
|  **Industrials (19.4%)** |  |  |
|  ***Aerospace & Defense (3.3%)*** |  |  |
|  AerSale Corp.\* | 6186 | 50663 |
|  AIRO Group Holdings, Inc.\* | 747 | 14342 |
|  Astronics Corp.\* | 5887 | 268506 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT MICRO CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Byrna Technologies, Inc.\* | 3525 | $78114 |
|  Cadre Holdings, Inc. | 5537 | 202156 |
|  CPI Aerostructures, Inc.\* | 2163 | 5451 |
|  Ducommun, Inc.\* | 2683 | 257917 |
|  Innovative Solutions and Support, Inc.(x)\* | 2840 | 35472 |
|  Mercury Systems, Inc.\* | 20512 | 1587629 |
|  National Presto Industries, Inc. | 1013 | 113608 |
|  Optex Systems Holdings, Inc.\* | 1052 | 13560 |
|  Park Aerospace Corp. | 3640 | 74038 |
|  Redwire Corp.(x)\* | 9574 | 86070 |
|  Safe Pro Group, Inc.\* | 1244 | 8733 |
|  Satellogic, Inc., Class A(x)\* | 13717 | 44992 |
|  TAT Technologies Ltd.\* | 36149 | 1591640 |
|  Virgin Galactic Holdings, Inc.(x)\* | 7551 | 29147 |
|  VirTra, Inc.\* | 2291 | 12051 |
|  VSE Corp. | 8051 | 1338398 |
|  |  | 5812487 |
|  ***Air Freight & Logistics (0.0%)†*** |  |  |
|  Air T, Inc.\* | 285 | 6412 |
|  Arrive AI, Inc.(x)\* | 734 | 2672 |
|  Freightos Ltd.\* | 5732 | 18916 |
|  Radiant Logistics, Inc.\* | 6320 | 37288 |
|  |  | 65288 |
|  ***Building Products (0.2%)*** |  |  |
|  Alpha Pro Tech Ltd.\* | 2064 | 9876 |
|  Caesarstone Ltd.\* | 4061 | 6457 |
|  Insteel Industries, Inc. | 3649 | 139903 |
|  Quanex Building Products Corp. | 8906 | 126643 |
|  |  | 282879 |
|  ***Commercial Services & Supplies (1.4%)*** |  |  |
|  ACCO Brands Corp. | 17155 | 68448 |
|  Acme United Corp.(x) | 688 | 28332 |
|  Bridger Aerospace Group Holdings, Inc.\* | 6597 | 12204 |
|  CECO Environmental Corp.\* | 29117 | 1490790 |
|  CompX International, Inc.(x) | 311 | 7277 |
|  Ennis, Inc. | 4726 | 86391 |
|  Enviri Corp.\* | 14700 | 186543 |
|  Interface, Inc., Class A | 11243 | 325372 |
|  Knightscope, Inc., Class A(x)\* | 1349 | 7784 |
|  Liquidity Services, Inc.\* | 4513 | 123792 |
|  Mobile Infrastructure Corp., Class A(x)\* | 2856 | 10053 |
|  NL Industries, Inc. | 1686 | 10369 |
|  Odyssey Marine Exploration, Inc., Class B\* | 5489 | 10704 |
|  Perma-Fix Environmental Services, Inc.(x)\* | 3419 | 34532 |
|  Quad/Graphics, Inc. | 5568 | 34856 |
|  Quest Resource Holding Corp.\* | 3342 | 5214 |
|  Team, Inc.\* | 548 | 9086 |
|  Virco Mfg. Corp.(x) | 1991 | 15430 |
|  |  | 2467177 |
|  ***Construction & Engineering (5.1%)*** |  |  |
|  Argan, Inc. | 9948 | 2686457 |
|  Bowman Consulting Group Ltd., Class A\* | 2728 | 115558 |
|  Concrete Pumping Holdings, Inc. | 4411 | 31098 |
|  Great Lakes Dredge & Dock Corp.\* | 12848 | 154048 |
|  INNOVATE Corp.\* | 1036 | 5066 |
|  JFB Construction Holdings, Class A(x)\* | 373 | 4819 |
|  Legence Corp., Class A\* | 2568 | 79120 |
|  Limbach Holdings, Inc.\* | 14082 | 1367644 |
|  Matrix Service Co.\* | 5134 | 67153 |
|  NWPX Infrastructure, Inc.\* | 1867 | 98820 |
|  Orion Group Holdings, Inc.\* | 7242 | 60253 |
|  Primoris Services Corp. | 15229 | 2091399 |
|  Shimmick Corp.\* | 774 | 2020 |
|  Southland Holdings, Inc.\* | 1837 | 7881 |
|  Sterling Infrastructure, Inc.(x)\* | 4595 | 1560830 |
|  Tutor Perini Corp.\* | 8643 | 566894 |
|  |  | 8899060 |
|  ***Electrical Equipment (1.9%)*** |  |  |
|  Allient, Inc. | 2808 | 125658 |
|  American Superconductor Corp.\* | 8477 | 503449 |
|  Amprius Technologies, Inc.(x)\* | 18070 | 190096 |
|  Broadwind, Inc.\* | 3695 | 7760 |
|  Complete Solaria, Inc.(x)\* | 12425 | 21868 |
|  Espey Mfg. & Electronics Corp. | 431 | 17072 |
|  FTC Solar, Inc.(x)\* | 1708 | 12041 |
|  FuelCell Energy, Inc.\* | 4013 | 31301 |
|  Hyliion Holdings Corp.\* | 23989 | 47258 |
|  Ideal Power, Inc.\* | 1366 | 6871 |
|  KULR Technology Group, Inc.(x)\* | 6964 | 28970 |
|  LSI Industries, Inc. | 5164 | 121922 |
|  NANO Nuclear Energy, Inc.(x)\* | 6034 | 232671 |
|  NeoVolta, Inc.(x)\* | 5948 | 26528 |
|  Powell Industries, Inc.(x) | 4735 | 1443275 |
|  Power Solutions International, Inc.\* | 1284 | 126115 |
|  Preformed Line Products Co. | 467 | 91602 |
|  SKYX Platforms Corp.(x)\* | 13110 | 14683 |
|  SolarMax Technology, Inc.\* | 5474 | 5748 |
|  T1 Energy, Inc.(x)\* | 21592 | 47071 |
|  Thermon Group Holdings, Inc.\* | 6331 | 169164 |
|  Ultralife Corp.\* | 2146 | 14636 |
|  Zeo Energy Corp.\* | 799 | 1079 |
|  |  | 3286838 |
|  ***Ground Transportation (0.1%)*** |  |  |
|  Armlogi Holding Corp.(x)\* | 1926 | 1541 |
|  Covenant Logistics Group, Inc., Class A | 3053 | 66128 |
|  FTAI Infrastructure, Inc.(x) | 20829 | 90814 |
|  PAMT Corp.\* | 1176 | 13406 |
|  Proficient Auto Logistics, Inc.(x)\* | 4641 | 31977 |
|  Universal Logistics Holdings, Inc.(x) | 1318 | 30894 |
|  |  | 234760 |
|  ***Machinery (1.8%)*** |  |  |
|  3D Systems Corp.(x)\* | 25302 | 73376 |
|  Aebi Schmidt Holding AG | 7069 | 88150 |
|  AirJoule Technologies Corp.(x)\* | 4372 | 20505 |
|  Blue Bird Corp.\* | 6148 | 353817 |
|  Columbus McKinnon Corp. | 5519 | 79143 |
|  Commercial Vehicle Group, Inc.\* | 5375 | 9138 |
|  Douglas Dynamics, Inc. | 4433 | 138576 |
|  Eastern Co. (The) | 1190 | 27917 |
|  FreightCar America, Inc.\* | 2880 | 28166 |
|  Gencor Industries, Inc.\* | 1964 | 28733 |
|  Graham Corp.\* | 2037 | 111831 |
|  Hurco Cos., Inc.\* | 1177 | 20480 |
|  Hyster-Yale, Inc. | 2292 | 84483 |
|  L B Foster Co., Class A\* | 1945 | 52418 |
|  Laser Photonics Corp.(x)\* | 1177 | 5073 |
|  Luxfer Holdings plc | 5102 | 70918 |
|  Manitowoc Co., Inc. (The)\* | 6652 | 66587 |
|  Mayville Engineering Co., Inc.\* | 2821 | 38817 |
|  Microvast Holdings, Inc.(x)\* | 38935 | 149900 |
|  Miller Industries, Inc. | 2143 | 86620 |
|  Nauticus Robotics, Inc.\* | 787 | 2267 |
|  NN, Inc.\* | 8806 | 18140 |
|  Novusterra, Inc.(r)(x)\* | 957 |  |
|  Palladyne AI Corp.(x)\* | 4660 | 40029 |
|  Park-Ohio Holdings Corp. | 1872 | 39761 |
|  Perma-Pipe International Holdings, Inc.\* | 1421 | 33294 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT MICRO CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Rain Enhancement Technologies Holdco, Inc., Class A(x)\* | 406 | $2245 |
|  Richtech Robotics, Inc., Class B(x)\* | 13723 | 58872 |
|  Standex International Corp. | 5289 | 1120739 |
|  Taylor Devices, Inc.\* | 639 | 31349 |
|  Titan International, Inc.\* | 9581 | 72432 |
|  Twin Disc, Inc. | 2249 | 31351 |
|  Wabash National Corp. | 7982 | 78782 |
|  Xos, Inc.(x)\* | 734 | 1982 |
|  |  | 3065891 |
|  ***Marine Transportation (0.2%)*** |  |  |
|  Costamare Bulkers Holdings Ltd.\* | 1747 | 25105 |
|  Genco Shipping & Trading Ltd. | 6583 | 117178 |
|  Himalaya Shipping Ltd. | 5927 | 48779 |
|  Pangaea Logistics Solutions Ltd. | 5827 | 29601 |
|  Safe Bulkers, Inc. | 10853 | 48187 |
|  |  | 268850 |
|  ***Passenger Airlines (0.1%)*** |  |  |
|  flyExclusive, Inc.\* | 775 | 3828 |
|  Mesa Air Group, Inc.\* | 6423 | 8350 |
|  Strata Critical Medical, Inc.\* | 12850 | 65021 |
|  Surf Air Mobility, Inc.(x)\* | 4455 | 19112 |
|  |  | 96311 |
|  ***Professional Services (4.3%)*** |  |  |
|  Asure Software, Inc.\* | 4838 | 39672 |
|  Barrett Business Services, Inc. | 4865 | 215617 |
|  BGSF, Inc.\* | 2027 | 14392 |
|  BlackSky Technology, Inc., Class A(x)\* | 52118 | 1050178 |
|  CRA International, Inc. | 9914 | 2067366 |
|  DLH Holdings Corp.\* | 2528 | 14283 |
|  Forrester Research, Inc.\* | 2154 | 22832 |
|  Franklin Covey Co.\* | 2035 | 39499 |
|  Heidrick & Struggles International, Inc. | 3989 | 198533 |
|  HireQuest, Inc.(x) | 1027 | 9880 |
|  Huron Consulting Group, Inc.\* | 7148 | 1049112 |
|  IBEX Holdings Ltd.\* | 2070 | 83876 |
|  Innodata, Inc.(x)\* | 7660 | 590356 |
|  Kelly Services, Inc., Class A | 5894 | 77329 |
|  Mastech Digital, Inc.\* | 806 | 6145 |
|  Mistras Group, Inc.\* | 3180 | 31291 |
|  Nixxy, Inc.\* | 3174 | 4475 |
|  RCM Technologies, Inc.\* | 940 | 24957 |
|  Resolute Holdings Management, Inc.(x)\* | 835 | 60245 |
|  Resources Connection, Inc. | 6009 | 30346 |
|  Skillsoft Corp.(x)\* | 921 | 11991 |
|  Spire Global, Inc.(x)\* | 5234 | 57522 |
|  TrueBlue, Inc.\* | 5611 | 34396 |
|  TTEC Holdings, Inc.\* | 4216 | 14166 |
|  Where Food Comes From, Inc.\* | 649 | 8729 |
|  Willdan Group, Inc.\* | 19019 | 1838947 |
|  |  | 7596135 |
|  ***Trading Companies & Distributors (1.0%)*** |  |  |
|  Alta Equipment Group, Inc. | 3935 | 28490 |
|  BlueLinx Holdings, Inc.\* | 1476 | 107866 |
|  EVI Industries, Inc. | 979 | 30946 |
|  Hudson Technologies, Inc.\* | 7425 | 73730 |
|  Karat Packaging, Inc. | 1577 | 39756 |
|  NPK International, Inc.\* | 15207 | 171991 |
|  Titan Machinery, Inc.\* | 4107 | 68751 |
|  Transcat, Inc.\* | 1764 | 129125 |
|  Willis Lease Finance Corp. | 554 | 75948 |
|  Xometry, Inc., Class A(x)\* | 17853 | 972453 |
|  |  | 1699056 |
|  ***Transportation Infrastructure (0.0%)†*** |  |  |
|  Sky Harbour Group Corp.(x)\* | 4212 | 41572 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 33816304 |
|  **Information Technology (18.2%)** |  |  |
|  ***Communications Equipment (2.4%)*** |  |  |
|  ADTRAN Holdings, Inc.\* | 14475 | 135775 |
|  Applied Optoelectronics, Inc.(x)\* | 10511 | 272550 |
|  Aviat Networks, Inc.\* | 2216 | 50813 |
|  BK Technologies Corp.\* | 582 | 49167 |
|  Calix, Inc.\* | 29451 | 1807408 |
|  Clearfield, Inc.(x)\* | 2210 | 75980 |
|  CommScope Holding Co., Inc.\* | 41409 | 641011 |
|  Comtech Telecommunications Corp.\* | 5562 | 14350 |
|  Digi International, Inc.\* | 7073 | 257882 |
|  Franklin Wireless Corp.\* | 1953 | 8515 |
|  Genasys, Inc.\* | 8644 | 21178 |
|  Gilat Satellite Networks Ltd.\* | 45688 | 594858 |
|  Inseego Corp.(x)\* | 2389 | 35763 |
|  KVH Industries, Inc.\* | 2333 | 13065 |
|  Lantronix, Inc.\* | 5703 | 26063 |
|  NETGEAR, Inc.\* | 5358 | 173546 |
|  Ribbon Communications, Inc.\* | 18160 | 69008 |
|  |  | 4246932 |
|  ***Electronic Equipment, Instruments & Components (5.0%)*** |  |  |
|  908 Devices, Inc.(x)\* | 5376 | 47094 |
|  Aeva Technologies, Inc.\* | 5907 | 85652 |
|  Airgain, Inc.\* | 1835 | 7964 |
|  AmpliTech Group, Inc.\* | 3317 | 12903 |
|  Arlo Technologies, Inc.\* | 103298 | 1750901 |
|  Bel Fuse, Inc., Class A | 323 | 37581 |
|  Bel Fuse, Inc., Class B | 10348 | 1459275 |
|  Climb Global Solutions, Inc. | 767 | 103422 |
|  Coda Octopus Group, Inc.\* | 1065 | 8547 |
|  Daktronics, Inc.\* | 7502 | 156942 |
|  Evolv Technologies Holdings, Inc.\* | 22447 | 169475 |
|  Focus Universal, Inc.\* | 571 | 1739 |
|  Frequency Electronics, Inc.(x)\* | 1264 | 42862 |
|  Identiv, Inc.\* | 3726 | 12855 |
|  Kimball Electronics, Inc.\* | 4729 | 141208 |
|  LGL Group, Inc. (The)\* | 588 | 3923 |
|  LightPath Technologies, Inc., Class A\* | 7161 | 56787 |
|  Methode Electronics, Inc. | 6436 | 48592 |
|  MicroVision, Inc.(x)\* | 49109 | 60895 |
|  M-Tron Industries, Inc.\* | 457 | 25354 |
|  Neonode, Inc.\* | 2090 | 7294 |
|  nLight, Inc.\* | 33354 | 988279 |
|  OSI Systems, Inc.\* | 6714 | 1673397 |
|  Ouster, Inc.\* | 40870 | 1105534 |
|  Powerfleet, Inc.(x)\* | 24150 | 126546 |
|  Red Cat Holdings, Inc.(x)\* | 16563 | 171427 |
|  Research Frontiers, Inc.\* | 5313 | 8448 |
|  RF Industries Ltd.\* | 1728 | 14221 |
|  Richardson Electronics Ltd. | 2328 | 22791 |
|  ScanSource, Inc.\* | 4066 | 178863 |
|  Sono-Tek Corp.\* | 1057 | 4735 |
|  Syntec Optics Holdings, Inc.\* | 1674 | 2595 |
|  Unusual Machines, Inc.(x)\* | 5519 | 83337 |
|  Vishay Precision Group, Inc.\* | 2308 | 73971 |
|  Vuzix Corp.(x)\* | 12288 | 38461 |
|  Wrap Technologies, Inc.(x)\* | 7146 | 15507 |
|  |  | 8749377 |
|  ***IT Services (1.8%)*** |  |  |
|  Applied Digital Corp.\* | 96911 | 2223138 |
|  Backblaze, Inc., Class A\* | 10439 | 96874 |
|  BigBear.ai Holdings, Inc.(x)\* | 56129 | 365961 |
|  Cloudastructure, Inc., Class A\* | 2661 | 3353 |
|  Crexendo, Inc.\* | 2987 | 19416 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT MICRO CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  CSP, Inc.(x) | 1304 | $15061 |
|  Grid Dynamics Holdings, Inc.\* | 12765 | 98418 |
|  Hackett Group, Inc. (The) | 4839 | 91989 |
|  Information Services Group, Inc. | 6796 | 39077 |
|  Rackspace Technology, Inc.\* | 15552 | 21928 |
|  Research Solutions, Inc.\* | 5334 | 19896 |
|  TSS, Inc.(x)\* | 3640 | 65920 |
|  Tucows, Inc., Class A(x)\* | 1291 | 23955 |
|  Unisys Corp.\* | 12770 | 49803 |
|  WidePoint Corp.\* | 1512 | 7477 |
|  |  | 3142266 |
|  ***Semiconductors & Semiconductor Equipment (1.5%)*** |  |  |
|  Aehr Test Systems(x)\* | 5576 | 167893 |
|  Aeluma, Inc.(x)\* | 1891 | 30445 |
|  Alpha & Omega Semiconductor Ltd.\* | 4833 | 135131 |
|  Ambarella, Inc.\* | 10754 | 887420 |
|  Ambiq Micro, Inc.\* | 888 | 26569 |
|  Amtech Systems, Inc.\* | 2465 | 22826 |
|  Atomera, Inc.(x)\* | 5412 | 23921 |
|  AXT, Inc.\* | 8274 | 37150 |
|  Blaize Holdings, Inc.(x)\* | 13932 | 48065 |
|  CEVA, Inc.\* | 4525 | 119505 |
|  Everspin Technologies, Inc.\* | 3595 | 33469 |
|  GCT Semiconductor Holding, Inc.(x)\* | 6599 | 10031 |
|  GSI Technology, Inc.\* | 4020 | 14794 |
|  Ichor Holdings Ltd.\* | 6570 | 115106 |
|  indie Semiconductor, Inc., Class A(x)\* | 37442 | 152389 |
|  inTEST Corp.\* | 2362 | 18447 |
|  Kopin Corp.(x)\* | 30818 | 74888 |
|  Maxeon Solar Technologies Ltd.(x)\* | 1228 | 4114 |
|  Navitas Semiconductor Corp., Class A(x)\* | 26216 | 189280 |
|  NVE Corp. | 941 | 61419 |
|  Penguin Solutions, Inc.(x)\* | 10099 | 265402 |
|  QuickLogic Corp.(x)\* | 3068 | 18592 |
|  SkyWater Technology, Inc.\* | 5086 | 94905 |
|  |  | 2551761 |
|  ***Software (7.3%)*** |  |  |
|  8x8, Inc.\* | 25961 | 55037 |
|  A10 Networks, Inc. | 14007 | 254227 |
|  ACCESS Newswire, Inc.\* | 580 | 6223 |
|  Agilysys, Inc.\* | 10702 | 1126386 |
|  Airship AI Holdings, Inc.(x)\* | 3730 | 19284 |
|  Amplitude, Inc., Class A\* | 52184 | 559412 |
|  Arteris, Inc.\* | 5660 | 57166 |
|  AudioEye, Inc.\* | 1519 | 21053 |
|  authID, Inc.(x)\* | 2084 | 6648 |
|  Aware, Inc.\* | 2352 | 5668 |
|  Bit Digital, Inc.\* | 61545 | 184635 |
|  Blend Labs, Inc., Class A\* | 40546 | 147993 |
|  BTCS, Inc.(r)\* | 650 |  |
|  BTCS, Inc. (Nasdaq Stock Exchange)(x)\* | 2657 | 12833 |
|  Cerence, Inc.(x)\* | 7854 | 97861 |
|  Cipher Mining, Inc.(x)\* | 51483 | 648171 |
|  Consensus Cloud Solutions, Inc.\* | 3763 | 110519 |
|  CoreCard Corp.\* | 1080 | 29074 |
|  CS Disco, Inc.\* | 4719 | 30485 |
|  Daily Journal Corp.(x)\* | 246 | 114424 |
|  Digimarc Corp.(x)\* | 2996 | 29271 |
|  Digital Turbine, Inc.\* | 20142 | 128909 |
|  Domo, Inc., Class B\* | 6295 | 99713 |
|  Duos Technologies Group, Inc.\* | 1706 | 12556 |
|  D-Wave Quantum, Inc.(x)\* | 22350 | 552269 |
|  eGain Corp.\* | 3510 | 30572 |
|  Expensify, Inc., Class A\* | 11371 | 21036 |
|  Fatpipe, Inc.\* | 167 | 1067 |
|  I3 Verticals, Inc., Class A(x)\* | 4442 | 144187 |
|  Intellicheck, Inc.\* | 3519 | 18299 |
|  Intellinetics, Inc.\* | 496 | 5605 |
|  Kaltura, Inc.\* | 16928 | 24376 |
|  Life360, Inc.(x)\* | 20066 | 2133016 |
|  Mercurity Fintech Holding, Inc.(x)\* | 6135 | 150798 |
|  Mitek Systems, Inc.(x)\* | 8733 | 85321 |
|  Nukkleus, Inc.\* | 505 | 3535 |
|  ON24, Inc.\* | 7232 | 41367 |
|  OneSpan, Inc. | 6967 | 110706 |
|  Ooma, Inc.\* | 4944 | 59279 |
|  Pagaya Technologies Ltd., Class A\* | 8931 | 265161 |
|  Pattern Group, Inc., Class A\* | 104507 | 1431746 |
|  Phunware, Inc.\* | 4186 | 11512 |
|  Porch Group, Inc.\* | 15642 | 262473 |
|  Red Violet, Inc. | 15839 | 827588 |
|  Rekor Systems, Inc.\* | 20163 | 31656 |
|  ReposiTrak, Inc.(x) | 2126 | 31507 |
|  Rezolve AI plc(x)\* | 28401 | 141437 |
|  Rimini Street, Inc.\* | 9753 | 45644 |
|  Roadzen, Inc.\* | 6568 | 5674 |
|  Silvaco Group, Inc.(x)\* | 1621 | 8770 |
|  SoundThinking, Inc.\* | 1822 | 21973 |
|  SRAX, Inc.(x)\* | 4308 |  |
|  Synchronoss Technologies, Inc.\* | 2208 | 13425 |
|  Telos Corp.\* | 10307 | 70500 |
|  Terawulf, Inc.(x)\* | 174700 | 1995074 |
|  Thumzup Media Corp.(x)\* | 530 | 2650 |
|  Upland Software, Inc.\* | 3750 | 8887 |
|  Veea, Inc.(x)\* | 1387 | 866 |
|  Veritone, Inc.(x)\* | 7091 | 34179 |
|  Viant Technology, Inc., Class A\* | 2604 | 22473 |
|  VirnetX Holding Corp.\* | 683 | 11679 |
|  Weave Communications, Inc.\* | 11218 | 74936 |
|  WM Technology, Inc.\* | 16534 | 19179 |
|  Xperi, Inc.\* | 8862 | 57426 |
|  Yext, Inc.\* | 19703 | 167870 |
|  ZenaTech, Inc.(x)\* | 1366 | 6557 |
|  |  | 12709823 |
|  ***Technology Hardware, Storage & Peripherals (0.2%)*** |  |  |
|  AstroNova, Inc.\* | 1212 | 12411 |
|  CompoSecure, Inc., Class A(x)\* | 8533 | 177657 |
|  CPI Card Group, Inc.\* | 1236 | 18713 |
|  Eastman Kodak Co.(x)\* | 12494 | 80086 |
|  Foxx Development Holdings, Inc.(x)\* | 406 | 1933 |
|  Immersion Corp. | 5527 | 40568 |
|  One Stop Systems, Inc.\* | 3395 | 18197 |
|  Quantum Corp.\* | 1308 | 12975 |
|  TransAct Technologies, Inc.\* | 1793 | 9718 |
|  Turtle Beach Corp.\* | 2823 | 44886 |
|  |  | 417144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 31817303 |
|  **Materials (2.5%)** |  |  |
|  ***Chemicals (1.2%)*** |  |  |
|  AdvanSix, Inc. | 5034 | 97559 |
|  American Vanguard Corp.\* | 5009 | 28752 |
|  Arq, Inc.(x)\* | 6292 | 45051 |
|  ASP Isotopes, Inc.(x)\* | 14825 | 142616 |
|  Aspen Aerogels, Inc.\* | 12791 | 89025 |
|  Core Molding Technologies, Inc.\* | 1655 | 34010 |
|  Flexible Solutions International, Inc. | 1320 | 12725 |
|  Flotek Industries, Inc.(x)\* | 2760 | 40296 |
|  Hawkins, Inc.(x) | 6593 | 1204673 |
|  Intrepid Potash, Inc.\* | 2124 | 64952 |
|  Koppers Holdings, Inc. | 3705 | 103740 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT MICRO CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Northern Technologies International Corp. | 1548 | $11935 |
|  Rayonier Advanced Materials, Inc.\* | 12572 | 90770 |
|  Solesence, Inc.\* | 3821 | 12304 |
|  Trinseo plc | 6822 | 16032 |
|  Valhi, Inc. | 444 | 7006 |
|  |  | 2001446 |
|  ***Construction Materials (0.0%)†*** |  |  |
|  Smith-Midland Corp.\* | 522 | 19262 |
|  ***Containers & Packaging (0.1%)*** |  |  |
|  Myers Industries, Inc. | 7185 | 121714 |
|  Ranpak Holdings Corp., Class A(x)\* | 9305 | 52294 |
|  |  | 174008 |
|  ***Metals & Mining (1.1%)*** |  |  |
|  5E Advanced Materials, Inc.\* | 365 | 1274 |
|  American Battery Technology Co.\* | 16920 | 82231 |
|  American Infrastructure Corp.(r)(x)\* | 1723 |  |
|  Ampco-Pittsburgh Corp.\* | 2508 | 5743 |
|  Ascent Industries Co.\* | 1447 | 18637 |
|  Caledonia Mining Corp. plc | 3223 | 116705 |
|  Contango ORE, Inc.\* | 1664 | 41484 |
|  Critical Metals Corp.(x)\* | 6365 | 39590 |
|  Dakota Gold Corp.\* | 16749 | 76208 |
|  Ferroglobe plc(x) | 23105 | 105128 |
|  Friedman Industries, Inc. | 1305 | 28573 |
|  Hycroft Mining Holding Corp., Class A(x)\* | 5405 | 33511 |
|  Idaho Strategic Resources, Inc.(x)\* | 2531 | 85522 |
|  Ivanhoe Electric, Inc.\* | 16769 | 210451 |
|  Lifezone Metals Ltd.\* | 5300 | 29044 |
|  Metallus, Inc.\* | 7132 | 117892 |
|  NioCorp Developments Ltd.(x)\* | 13392 | 89459 |
|  Olympic Steel, Inc. | 1890 | 57550 |
|  Perpetua Resources Corp.\* | 14581 | 294974 |
|  Ramaco Resources, Inc., Class A(x)\* | 5626 | 186727 |
|  ReElement Technologies Corp.(x)\* | 3055 |  |
|  SunCoke Energy, Inc. | 16634 | 135733 |
|  Tredegar Corp.\* | 5269 | 42310 |
|  United States Antimony Corp.(x)\* | 17884 | 110881 |
|  US Gold Corp.\* | 2384 | 39288 |
|  US Goldmining, Inc.\* | 339 | 4358 |
|  Vox Royalty Corp.(x) | 8279 | 35600 |
|  |  | 1988873 |
|  ***Paper & Forest Products (0.1%)*** |  |  |
|  Clearwater Paper Corp.\* | 3035 | 63007 |
|  Magnera Corp.\* | 6423 | 75277 |
|  |  | 138284 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 4321873 |
|  **Real Estate (1.3%)** |  |  |
|  ***Diversified REITs (0.2%)*** |  |  |
|  Alpine Income Property Trust, Inc. (REIT) | 2316 | 32818 |
|  CTO Realty Growth, Inc. (REIT) | 5923 | 96545 |
|  Gladstone Commercial Corp. (REIT) | 9015 | 111065 |
|  Modiv Industrial, Inc. (REIT), Class C | 1829 | 26776 |
|  NexPoint Diversified Real Estate Trust (REIT) | 6498 | 23977 |
|  One Liberty Properties, Inc. (REIT) | 3623 | 80141 |
|  |  | 371322 |
|  ***Health Care REITs (0.2%)*** |  |  |
|  Diversified Healthcare Trust (REIT) | 42547 | 187632 |
|  Global Medical REIT, Inc. (REIT) | 2482 | 83668 |
|  Strawberry Fields REIT, Inc. (REIT) | 1309 | 16101 |
|  Universal Health Realty Income Trust (REIT) | 2444 | 95732 |
|  |  | 383133 |
|  ***Hotel & Resort REITs (0.1%)*** |  |  |
|  Ashford Hospitality Trust, Inc. (REIT)\* | 1110 | 6549 |
|  Braemar Hotels & Resorts, Inc. (REIT)(x) | 11294 | 30833 |
|  Chatham Lodging Trust (REIT) | 9124 | 61222 |
|  |  | 98604 |
|  ***Industrial REITs (0.1%)*** |  |  |
|  Industrial Logistics Properties Trust (REIT) | 10364 | 60422 |
|  Plymouth Industrial REIT, Inc. (REIT) | 7972 | 178015 |
|  |  | 238437 |
|  ***Office REITs (0.2%)*** |  |  |
|  City Office REIT, Inc. (REIT) | 7730 | 53801 |
|  Franklin Street Properties Corp. (REIT) | 14588 | 23341 |
|  NET Lease Office Properties (REIT)(x) | 2816 | 83522 |
|  Orion Properties, Inc. (REIT) | 10138 | 27373 |
|  Peakstone Realty Trust (REIT) | 7084 | 92942 |
|  Postal Realty Trust, Inc. (REIT), Class A | 4386 | 68816 |
|  |  | 349795 |
|  ***Real Estate Management & Development (0.3%)*** |  |  |
|  American Realty Investors, Inc.(x)\* | 258 | 4316 |
|  AMREP Corp.\* | 607 | 14519 |
|  Comstock Holding Cos., Inc., Class A\* | 614 | 8602 |
|  Douglas Elliman, Inc.\* | 14363 | 41078 |
|  FRP Holdings, Inc.\* | 2170 | 52861 |
|  JW Mays, Inc.\* | 69 | 2622 |
|  Linkhome Holdings, Inc.\* | 289 | 2618 |
|  Logistic Properties of The Americas\* | 574 | 2675 |
|  Maui Land & Pineapple Co., Inc.\* | 1388 | 25872 |
|  Offerpad Solutions, Inc.(x)\* | 4574 | 19074 |
|  RE/MAX Holdings, Inc., Class A\* | 3393 | 31996 |
|  Real Brokerage, Inc. (The)\* | 20528 | 85807 |
|  Seaport Entertainment Group, Inc.(x)\* | 1393 | 31928 |
|  Star Holdings(x)\* | 2704 | 22254 |
|  Stratus Properties, Inc.(x)\* | 1353 | 28630 |
|  Tejon Ranch Co.\* | 4057 | 64831 |
|  Transcontinental Realty Investors, Inc.\* | 371 | 17114 |
|  |  | 456797 |
|  ***Residential REITs (0.0%)†*** |  |  |
|  Bluerock Homes Trust, Inc. (REIT) | 674 | 8074 |
|  BRT Apartments Corp. (REIT) | 2286 | 35799 |
|  Clipper Realty, Inc. (REIT) | 2954 | 11225 |
|  |  | 55098 |
|  ***Retail REITs (0.1%)*** |  |  |
|  CBL & Associates Properties, Inc. (REIT) | 3549 | 108529 |
|  FrontView REIT, Inc. (REIT) | 3658 | 50151 |
|  Whitestone REIT (REIT) | 8718 | 107057 |
|  |  | 265737 |
|  ***Specialized REITs (0.1%)*** |  |  |
|  Farmland Partners, Inc. (REIT)(x) | 7957 | 86572 |
|  Gladstone Land Corp. (REIT)(x) | 6527 | 59788 |
|  Global Self Storage, Inc. (REIT) | 2068 | 10402 |
|  |  | 156762 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 2375685 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT MICRO CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  **Utilities (0.4%)** |  |  |
|  ***Electric Utilities (0.0%)†*** |  |  |
|  Genie Energy Ltd., Class B | 4104 | $61355 |
|  ***Gas Utilities (0.0%)†*** |  |  |
|  RGC Resources, Inc. | 1706 | 38283 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  Hallador Energy Co.\* | 6019 | 117792 |
|  Spruce Power Holding Corp.\* | 3458 | 8472 |
|  |  | 126264 |
|  ***Multi-Utilities (0.1%)*** |  |  |
|  Unitil Corp. | 3093 | 148031 |
|  ***Water Utilities (0.2%)*** |  |  |
|  Cadiz, Inc.\* | 10807 | 51009 |
|  Consolidated Water Co. Ltd. | 2973 | 104887 |
|  Global Water Resources, Inc. | 2598 | 26759 |
|  Pure Cycle Corp.\* | 3879 | 42941 |
|  York Water Co. (The) | 2791 | 84902 |
|  |  | 310498 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 684431 |
|  **Total Common Stocks (98.5%)**<br> *(Cost $135,244,721)* |  | 171950817 |
|  | **Number of**<br>**Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Biotechnology (0.0%)†*** |  |  |
|  Aduro Biotech, Inc., CVR (r)\* | 1755 |  |
|  Icosavax, Inc., CVR \* | 4644 | 1393 |
|  Ikena Oncology Securities Corp., CVR (r)\* | 6638 |  |
|  Sanofi Aatd, Inc., CVR (r)\* | 5676 | 2756 |
|  Vigil Neuroscience, Inc., CVR(r)\* | 5880 | 221 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 4370 |
|  **Industrials (0.0%)†** |  |  |
|  ***Electrical Equipment (0.0%)†*** |  |  |
|  Pineapple Energy, Inc., CVR(r)\* | 411 | 325 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 325 |
|  **Total Rights (0.0%)†**<br> *(Cost $4,056)* |  | 4695 |
|  | **Number of**<br>**Warrants** | **Value**<br>**(Note 1)** |
|  WARRANTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Health Care Equipment & Supplies (0.0%)†*** |  |  |
|  Pulse Biosciences, Inc.,expiring 6/27/29\* | 287 | 962 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 962 |
|  **Information Technology (0.0%)†** |  |  |
|  ***Electronic Equipment, Instruments & Components (0.0%)†*** |  |  |
|  M-Tron Industries, Inc.,expiring 3/11/28\* | 439 | 768 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 768 |
|  **Total Warrants (0.0%)†**<br> *(Cost $—)* |  | 1730 |
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (5.7%)** |  |  |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 1000000 | 1000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 8297942 | 8297942 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 631574 | 631826 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 9929768 |
|  **Total Short-Term Investments (5.7%)**<br> *(Cost $9,929,763)* |  | 9929768 |
|  **Total Investments in Securities (104.2%)**<br> *(Cost $145,178,540)* |  | 181887010 |
|  **Other Assets Less Liabilities (-4.2%)** | **Other Assets Less Liabilities (-4.2%)** | (7334263) |
|  **Net Assets (100%)** | **Net Assets (100%)** | $174552747 |

---

*\** *Non-income producing.* 

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $156,436 or 0.1% of net assets.* 

*(q)* *Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $28,876,118. This was collateralized by $20,441,893 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.250%,maturing 10/9/25 – 5/15/55 and by cash of $9,297,942 which was subsequently invested in investment companies.* 

*Glossary:* 

*CVR — Contingent Value Right* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT MICRO CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  Russell 2000 Micro E-Mini Index | 48 | 12/2025 | USD | 589320 | 3034 |
|  |  |  |  |  | 3034 |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $4821383 | $— | $— | $4821383 |
|  Consumer Discretionary | 12552405 | 6666 |  | 12559071 |
|  Consumer Staples | 6403808 |  |  | 6403808 |
|  Energy | 6870149 |  |  | 6870149 |
|  Financials | 22376343 |  | — (a) | 22376343 |
|  Health Care | 45904467 |  | — (a) | 45904467 |
|  Industrials | 33816304 |  | — (a) | 33816304 |
|  Information Technology | 31817303 | — (a) | — (a) | 31817303 |
|  Materials | 4321873 | — (a) | — (a) | 4321873 |
|  Real Estate | 2375685 |  |  | 2375685 |
|  Utilities | 684431 |  |  | 684431 |
|  Futures | 3034 |  |  | 3034 |
|  **Rights** |  |  |  |  |
|  Health Care |  | 1393 | 2977 | 4370 |
|  Industrials |  |  | 325 | 325 |
|  Short-Term Investments |  |  |  |  |
|  Investment Companies | 9929768 |  |  | 9929768 |
|  **Warrants** |  |  |  |  |
|  Health Care |  | 962 |  | 962 |
|  Information Technology | 768 |  |  | 768 |
|  **Total Assets** | $**181877721** | $**9021** | $**3302** | $**181890044** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**181877721** | $**9021** | $**3302** | $**181890044** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $52601056 |
|  Aggregate gross unrealized depreciation | (17196316) |
|  Net unrealized appreciation | $35404740 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $146485304 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT NATURAL RESOURCES PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Food, Beverage & Tobacco (1.3%)** |  |  |
|  ***Agricultural Products & Services (1.3%)*** |  |  |
|  Archer-Daniels-Midland Co. | 5282 | $315547 |
|  Bunge Global SA | 1540 | 125125 |
|  Wilmar International Ltd. | 20644 | 45610 |
|  |  | 486282 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Food, Beverage & Tobacco** |  | 486282 |
|  **Energy (60.5%)** |  |  |
|  ***Coal & Consumable Fuels (1.1%)*** |  |  |
|  Cameco Corp. | 4786 | 401671 |
|  ***Integrated Oil & Gas (44.2%)*** |  |  |
|  BP plc | 174377 | 998467 |
|  Cenovus Energy, Inc.(x) | 14919 | 253313 |
|  Chevron Corp. | 21552 | 3346810 |
|  Eni SpA(x) | 22488 | 392493 |
|  Equinor ASA | 8433 | 205680 |
|  Exxon Mobil Corp. | 47381 | 5342208 |
|  Galp Energia SGPS SA | 4588 | 86723 |
|  Imperial Oil Ltd.(x) | 1959 | 177629 |
|  Occidental Petroleum Corp. | 8115 | 383434 |
|  OMV AG | 1619 | 86334 |
|  Repsol SA | 12725 | 225068 |
|  Shell plc | 64785 | 2305878 |
|  Suncor Energy, Inc. | 13496 | 564782 |
|  TotalEnergies SE | 22572 | 1370879 |
|  |  | 15739698 |
|  ***Oil & Gas Exploration & Production (15.2%)*** |  |  |
|  Aker BP ASA | 3475 | 88132 |
|  ARC Resources Ltd. | 6428 | 117225 |
|  Canadian Natural Resources Ltd. | 23014 | 735879 |
|  ConocoPhillips | 13879 | 1312815 |
|  Coterra Energy, Inc. | 8392 | 198471 |
|  Devon Energy Corp. | 6706 | 235112 |
|  Diamondback Energy, Inc. | 2088 | 298793 |
|  EOG Resources, Inc. | 6000 | 672720 |
|  EQT Corp. | 6518 | 354775 |
|  Expand Energy Corp. | 2486 | 264113 |
|  Inpex Corp. | 9733 | 175922 |
|  Santos Ltd. | 35709 | 159021 |
|  Texas Pacific Land Corp.(x) | 215 | 200733 |
|  Tourmaline Oil Corp. | 4040 | 174233 |
|  Whitecap Resources, Inc.(x) | 13538 | 103308 |
|  Woodside Energy Group Ltd. | 20875 | 318113 |
|  |  | 5409365 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 21550734 |
|  **Materials (37.4%)** |  |  |
|  ***Aluminum (0.3%)*** |  |  |
|  Norsk Hydro ASA | 15227 | 103145 |
|  ***Copper (3.0%)*** |  |  |
|  Antofagasta plc | 4336 | 160424 |
|  First Quantum Minerals Ltd.\* | 7796 | 176344 |
|  Freeport-McMoRan, Inc. | 15790 | 619284 |
|  Lundin Mining Corp. | 7528 | 112295 |
|  |  | 1068347 |
|  ***Diversified Metals & Mining (12.1%)*** |  |  |
|  Anglo American plc | 12304 | 460852 |
|  BHP Group Ltd. | 55807 | 1570526 |
|  Boliden AB\* | 3125 | 127033 |
|  Glencore plc | 111452 | 512030 |
|  Ivanhoe Mines Ltd., Class A\* | 8186 | 86819 |
|  Rio Tinto Ltd. | 4081 | 329530 |
|  Rio Tinto plc | 12408 | 815602 |
|  South32 Ltd. | 49516 | 89775 |
|  Sumitomo Metal Mining Co. Ltd. | 2696 | 86904 |
|  Teck Resources Ltd., Class B | 5122 | 224688 |
|  |  | 4303759 |
|  ***Fertilizers & Agricultural Chemicals (3.1%)*** |  |  |
|  CF Industries Holdings, Inc. | 1781 | 159756 |
|  Corteva, Inc. | 7500 | 507225 |
|  ICL Group Ltd. | 8514 | 53209 |
|  Nutrien Ltd.(x) | 5360 | 314775 |
|  Yara International ASA | 1820 | 66493 |
|  |  | 1101458 |
|  ***Forest Products (0.3%)*** |  |  |
|  Svenska Cellulosa AB SCA, Class B | 6679 | 88220 |
|  ***Gold (13.3%)*** |  |  |
|  Agnico Eagle Mines Ltd. | 5533 | 931907 |
|  Alamos Gold, Inc., Class A | 4624 | 161177 |
|  Barrick Mining Corp. | 18756 | 616036 |
|  Evolution Mining Ltd. | 22016 | 157771 |
|  Franco-Nevada Corp. | 2118 | 471433 |
|  Kinross Gold Corp. | 13488 | 334753 |
|  Lundin Gold, Inc. | 1194 | 77361 |
|  Newmont Corp. | 12104 | 1020488 |
|  Northern Star Resources Ltd. | 14921 | 234292 |
|  Pan American Silver Corp. | 4639 | 179767 |
|  Wheaton Precious Metals Corp. | 4990 | 558412 |
|  |  | 4743397 |
|  ***Paper Products (0.9%)*** |  |  |
|  Holmen AB, Class B | 838 | 31813 |
|  Mondi plc | 4853 | 66834 |
|  Stora Enso OYJ, Class R | 6404 | 70194 |
|  UPM-Kymmene OYJ | 5802 | 158512 |
|  |  | 327353 |
|  ***Silver (0.2%)*** |  |  |
|  Fresnillo plc | 2431 | 77159 |
|  ***Steel (4.2%)*** |  |  |
|  ArcelorMittal SA | 5157 | 185149 |
|  BlueScope Steel Ltd. | 4822 | 72397 |
|  Fortescue Ltd. | 18618 | 230129 |
|  JFE Holdings, Inc. | 6345 | 77937 |
|  Nippon Steel Corp.(x) | 52905 | 218045 |
|  Nucor Corp. | 2537 | 343586 |
|  Reliance, Inc. | 578 | 162320 |
|  Steel Dynamics, Inc. | 1551 | 216256 |
|  |  | 1505819 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 13318657 |
|  **Total Common Stocks (99.2%)***<br>(Cost $26,586,637)* |  | 35355673 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  ***Investment Companies (1.2%)*** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 421556 | 421556 |
|  **Total Short-Term Investments (1.2%)**<br>*(Cost $421,556)* |  | 421556 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT NATURAL RESOURCES PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  **Total Investments in Securities (100.4%)**<br>*(Cost $27,008,193)* |  | $35777229 |
|  **Other Assets Less Liabilities (-0.4%)** | **Other Assets Less Liabilities (-0.4%)** | (158432) |
|  **Net Assets (100%)** | **Net Assets (100%)** | $35618797 |

---

*\** *Non-income producing.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $1,366,789. This was collateralized by $1,024,860 of various U.S. Government Treasury Securities, ranging from 0.000% – 5.375%, maturing 10/9/25 – 5/15/55 and by cash of $421,556 which was subsequently invested in investment companies.* 

**Country Diversification** 

As a Percentage of Total Net Assets

---

| | |
|:---|:---|
|  Australia | 12.6% |
|  Austria | 0.4 |
|  Brazil | 1.8 |
|  Canada | 16.4 |
|  Chile | 0.8 |
|  China | 0.1 |
|  Congo, the Democratic Republic of the | 0.2 |
|  Finland | 0.6 |
|  France | 3.9 |
|  Israel | 0.2 |
|  Italy | 1.1 |
|  Japan | 1.6 |
|  Luxembourg | 0.5 |
|  Mexico | 0.2 |
|  Norway | 1.1 |
|  Portugal | 0.2 |
|  South Africa | 1.3 |
|  Spain | 0.6 |
|  Sweden | 0.7 |
|  United States | 55.6 |
|  Zambia | 0.5 |
|  Cash and Other | (0.4) |
|  | 100.0% |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT NATURAL RESOURCES PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Food, Beverage & Tobacco | $440672 | $45610 | $— | $486282 |
|  Energy | 15138024 | 6412710 |  | 21550734 |
|  Materials | 7274682 | 6043975 |  | 13318657 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 421556 |  |  | 421556 |
|  **Total Assets** | $**23274934** | $**12502295** | $**—** | $**35777229** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**23274934** | $**12502295** | $**—** | $**35777229** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $9225319 |
|  Aggregate gross unrealized depreciation | (917172) |
|  Net unrealized appreciation | $8308147 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $27469082 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT REAL ESTATE PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Number of<br>Shares** |  | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |  |
|  ***Consumer Discretionary (0.1%)*** |  |  |  |
|  ***Hotels, Resorts & Cruise Lines (0.1%)*** | ***Hotels, Resorts & Cruise Lines (0.1%)*** | **** |  |
|  PPHE Hotel Group Ltd. | 476 |  | $8745 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  |  | 8745 |
|  **Health Care (0.2%)** |  |  |  |
|  ***Health Care Facilities (0.2%)*** | ***Health Care Facilities (0.2%)*** | **** |  |
|  Chartwell Retirement Residences | 5896 |  | 85493 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  |  | 85493 |
|  **Information Technology (0.4%)** |  |  |  |
|  ***Internet Services & Infrastructure (0.4%)*** | ***Internet Services & Infrastructure (0.4%)*** | **** |  |
|  NEXTDC Ltd.\* | 13022 |  | 145794 |
|  SUNeVision Holdings Ltd. | 12000 |  | 10594 |
|  |  |  | 156388 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  |  | 156388 |
|  **Real Estate (98.3%)** |  |  |  |
|  ***Data Center REITs (7.4%)*** | ***Data Center REITs (7.4%)*** | **** |  |
|  DigiCo Infrastructure REIT (REIT) | 8166 |  | 14319 |
|  Digital Core REIT Management Pte. Ltd. (REIT) | 16920 |  | 8037 |
|  Digital Realty Trust, Inc. (REIT) | 6901 |  | 1193045 |
|  Equinix, Inc. (REIT) | 2000 |  | 1566480 |
|  Keppel DC REIT (REIT) | 36272 |  | 67204 |
|  |  |  | 2849085 |
|  ***Diversified Real Estate Activities (5.4%)*** |  |  |  |
|  Allreal Holding AG (Registered) | 301 |  | 70481 |
|  City Developments Ltd. | 8292 |  | 44483 |
|  Heiwa Real Estate Co. Ltd.(x) | 790 |  | 12618 |
|  Mitsubishi Estate Co. Ltd. | 22927 |  | 527576 |
|  Mitsui Fudosan Co. Ltd. | 53405 |  | 582495 |
|  New World Development Co. Ltd.(x)\* | 27996 |  | 28133 |
|  Nomura Real Estate Holdings, Inc.(x) | 10640 |  | 67926 |
|  Peach Property Group AG\* | 890 |  | 7099 |
|  Sumitomo Realty & Development Co. Ltd. | 6681 |  | 295096 |
|  Sun Hung Kai Properties Ltd. | 28259 |  | 338442 |
|  Tokyo Tatemono Co. Ltd. | 3952 |  | 79248 |
|  UOL Group Ltd. | 9323 |  | 56446 |
|  |  |  | 2110043 |
|  ***Diversified REITs (6.9%)*** |  |  |  |
|  Activia Properties, Inc. (REIT) | 43 |  | 39137 |
|  AEW UK REIT plc (REIT)(m) | 2502 |  | 3668 |
|  Alexander & Baldwin, Inc. (REIT) | 1478 |  | 26885 |
|  American Assets Trust, Inc. (REIT) | 1053 |  | 21397 |
|  Argosy Property Ltd. (REIT) | 15404 |  | 11208 |
|  British Land Co. plc (The) (REIT) | 19884 |  | 93116 |
|  Broadstone Net Lease, Inc. (REIT) | 3842 |  | 68657 |
|  CapitaLand Integrated Commercial Trust (REIT) | 116087 |  | 206085 |
|  Charter Hall Group (REIT) | 9597 |  | 144470 |
|  Charter Hall Long Wale REIT (REIT) | 13883 |  | 40420 |
|  Covivio SA (REIT) | 1102 |  | 74006 |
|  Custodian Property Income REIT plc (REIT) | 8128 |  | 8854 |
|  Daiwa House REIT Investment Corp. (REIT) | 84 |  | 71569 |
|  Essential Properties Realty Trust, Inc. (REIT) | 4023 |  | 119724 |
|  Global Net Lease, Inc. (REIT)(x) | 4054 |  | 32959 |
|  GPT Group (The) (REIT) | 39259 |  | 139500 |
|  Growthpoint Properties Australia Ltd. (REIT) | 5336 |  | 9074 |
|  H&R REIT (REIT) | 5301 |  | 42851 |
|  Hankyu Hanshin REIT, Inc. (REIT) | 13 |  | 14997 |
|  Heiwa Real Estate REIT, Inc. (REIT)(x) | 21 |  | 21570 |
|  Hulic REIT, Inc. (REIT) | 25 |  | 28654 |
|  Icade (REIT) | 935 |  | 23514 |
|  KDX Realty Investment Corp. (REIT) | 76 |  | 86594 |
|  Land Securities Group plc (REIT) | 15178 |  | 118803 |
|  Mapletree Pan Asia Commercial Trust (REIT) | 46386 |  | 51422 |
|  Merlin Properties SOCIMI SA (REIT) | 7704 |  | 116136 |
|  Mirai Corp. (REIT) | 36 |  | 11819 |
|  Mirvac Group (REIT) | 80515 |  | 120938 |
|  Mori Trust REIT, Inc. (REIT)(x) | 48 |  | 24603 |
|  NIPPON REIT Investment Corp. (REIT) | 33 |  | 21601 |
|  Nomura Real Estate Master Fund, Inc. (REIT) | 84 |  | 91109 |
|  NTT UD REIT Investment Corp. (REIT) | 26 |  | 23910 |
|  OUE REIT (REIT) | 45263 |  | 11930 |
|  Schroder REIT Ltd. (REIT) | 10016 |  | 6776 |
|  Sekisui House REIT, Inc. (REIT) | 79 |  | 42522 |
|  SK REITs Co. Ltd. (REIT) | 3463 |  | 12366 |
|  Star Asia Investment Corp. (REIT) | 49 |  | 19980 |
|  Stockland (REIT) | 47819 |  | 193648 |
|  Stoneweg Europe Stapled Trust (REIT) | 7013 |  | 12515 |
|  Stride Property Group (REIT) | 9818 |  | 7855 |
|  Sunlight REIT (REIT) | 19781 |  | 5668 |
|  Suntec REIT (REIT) | 42478 |  | 42150 |
|  Takara Leben Real Estate Investment Corp. (REIT) | 18 |  | 11454 |
|  Tokyu REIT, Inc. (REIT)(x) | 18 |  | 24355 |
|  United Urban Investment Corp. (REIT) | 62 |  | 75213 |
|  WP Carey, Inc. (REIT) | 4434 |  | 299605 |
|  |  |  | 2675287 |
|  ***Health Care REITs (12.5%)*** |  |  |  |
|  Aedifica SA (REIT) | 974 |  | 72099 |
|  Alexandria Real Estate Equities, Inc. (REIT) | 3509 |  | 292440 |
|  American Healthcare REIT, Inc. (REIT) | 3224 |  | 135440 |
|  CareTrust REIT, Inc. (REIT) | 4315 |  | 149644 |
|  Cofinimmo SA (REIT) | 781 |  | 67670 |
|  Health Care & Medical Investment Corp. (REIT) | 7 |  | 5500 |
|  Healthcare Realty Trust, Inc. (REIT), Class A | 6713 |  | 121035 |
|  Healthpeak Properties, Inc. (REIT) | 14181 |  | 271566 |
|  Life Science REIT plc (REIT) | 5863 |  | 2878 |
|  LTC Properties, Inc. (REIT) | 916 |  | 33764 |
|  Medical Properties Trust, Inc. (REIT)(x) | 10206 |  | 51744 |
|  National Health Investors, Inc. (REIT) | 936 |  | 74412 |
|  Northwest Healthcare Properties REIT (REIT) | 4504 |  | 16473 |
|  Omega Healthcare Investors, Inc. (REIT) | 5875 |  | 248043 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT REAL ESTATE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Parkway Life REIT (REIT) | 8500 | $27148 |
|  Primary Health Properties plc (REIT) | 51478 | 63210 |
|  Sabra Health Care REIT, Inc. (REIT) | 4815 | 89752 |
|  Sila Realty Trust, Inc. (REIT) | 1127 | 28288 |
|  Target Healthcare REIT plc (REIT) | 12708 | 16544 |
|  Ventas, Inc. (REIT) | 9269 | 648737 |
|  Welltower, Inc. (REIT) | 13691 | 2438915 |
|  |  | 4855302 |
|  ***Hotel & Resort REITs (2.1%)*** |  |  |
|  Apple Hospitality REIT, Inc. (REIT) | 4535 | 54465 |
|  CapitaLand Ascott Trust (REIT) | 53175 | 38337 |
|  CDL Hospitality Trusts (REIT) | 16277 | 10158 |
|  DiamondRock Hospitality Co. (REIT) | 4175 | 33233 |
|  Far East Hospitality Trust (REIT) | 19469 | 9131 |
|  Hoshino Resorts REIT, Inc. (REIT) | 11 | 20031 |
|  Host Hotels & Resorts, Inc. (REIT) | 14029 | 238774 |
|  Invincible Investment Corp. (REIT) | 149 | 67908 |
|  Japan Hotel REIT Investment Corp. (REIT) | 99 | 59714 |
|  Park Hotels & Resorts, Inc. (REIT)(x) | 4017 | 44509 |
|  Pebblebrook Hotel Trust (REIT)(x) | 2380 | 27108 |
|  RLJ Lodging Trust (REIT)(x) | 3006 | 21643 |
|  Ryman Hospitality Properties, Inc. (REIT) | 1251 | 112077 |
|  Sunstone Hotel Investors, Inc. (REIT) | 3856 | 36131 |
|  Xenia Hotels & Resorts, Inc. (REIT) | 2003 | 27481 |
|  |  | 800700 |
|  ***Industrial REITs (14.4%)*** |  |  |
|  AIMS APAC REIT (REIT) | 11893 | 12539 |
|  Americold Realty Trust, Inc. (REIT) | 5833 | 71396 |
|  ARGAN SA (REIT) | 336 | 25128 |
|  CapitaLand Ascendas REIT (REIT) | 76387 | 165216 |
|  Centuria Industrial REIT (REIT)(x) | 12856 | 29689 |
|  CRE Logistics REIT, Inc. (REIT) | 12 | 12342 |
|  Dexus Industria REIT (REIT) | 6503 | 12307 |
|  Dream Industrial REIT (REIT)(x) | 5830 | 52071 |
|  EastGroup Properties, Inc. (REIT) | 1083 | 183309 |
|  ESR Kendall Square REIT Co. Ltd. (REIT) | 3410 | 11010 |
|  ESR-REIT (REIT) | 11924 | 25883 |
|  First Industrial Realty Trust, Inc. (REIT) | 2618 | 134748 |
|  Frasers Logistics & Commercial Trust (REIT)(m) | 56769 | 41808 |
|  GLP J-REIT (REIT) | 90 | 83071 |
|  Goodman Group (REIT) | 40598 | 880592 |
|  Goodman Property Trust (REIT) | 19732 | 24366 |
|  Granite REIT (REIT) | 1234 | 68567 |
|  Industrial & Infrastructure Fund Investment Corp. (REIT) | 48 | 44078 |
|  Innovative Industrial Properties, Inc. (REIT) | 562 | 30112 |
|  Japan Logistics Fund, Inc. (REIT) | 53 | 35050 |
|  LaSalle Logiport REIT (REIT) | 34 | 32992 |
|  Lineage, Inc. (REIT) | 1445 | 55835 |
|  LondonMetric Property plc (REIT) | 45259 | 110720 |
|  LXP Industrial Trust (REIT) | 5903 | 52891 |
|  Mapletree Industrial Trust (REIT) | 42399 | 70010 |
|  Mapletree Logistics Trust (REIT) | 68766 | 66636 |
|  Mitsubishi Estate Logistics REIT Investment Corp. (REIT) | 27 | 22219 |
|  Mitsui Fudosan Logistics Park, Inc. (REIT) | 61 | 43847 |
|  Montea NV (REIT) | 426 | 34310 |
|  Nippon Prologis REIT, Inc. (REIT) | 147 | 85883 |
|  Prologis, Inc. (REIT) | 18978 | 2173361 |
|  Rexford Industrial Realty, Inc. (REIT) | 4848 | 199301 |
|  Segro plc (REIT) | 27598 | 243262 |
|  SOSiLA Logistics REIT, Inc. (REIT) | 13 | 10434 |
|  STAG Industrial, Inc. (REIT) | 3819 | 134773 |
|  Terreno Realty Corp. (REIT)(x) | 2071 | 117529 |
|  Tritax Big Box REIT plc (REIT) | 50163 | 97486 |
|  Warehouses De Pauw CVA (REIT) | 3776 | 94339 |
|  |  | 5589110 |
|  ***Multi-Family Residential REITs (7.7%)*** |  |  |
|  Advance Residence Investment Corp. (REIT) | 53 | 59528 |
|  Altarea SCA (REIT) | 137 | 16857 |
|  Apartment Investment and Management Co. (REIT), Class A | 2673 | 21197 |
|  AvalonBay Communities, Inc. (REIT) | 2910 | 562125 |
|  Boardwalk REIT (REIT) | 827 | 41080 |
|  Camden Property Trust (REIT) | 2199 | 234809 |
|  Canadian Apartment Properties REIT (REIT) | 3210 | 93876 |
|  Care Property Invest NV (REIT) | 757 | 10345 |
|  Centerspace (REIT) | 341 | 20085 |
|  Comforia Residential REIT, Inc. (REIT) | 13 | 28569 |
|  Daiwa Securities Living Investments Corp. (REIT) | 39 | 28323 |
|  Elme Communities (REIT) | 1782 | 30045 |
|  Empiric Student Property plc (REIT) | 13599 | 16936 |
|  Equity Residential (REIT) | 7749 | 501593 |
|  Essex Property Trust, Inc. (REIT) | 1304 | 349029 |
|  Home Invest Belgium SA (REIT) | 200 | 4607 |
|  Home REIT plc (REIT)(r)\* | 17110 |  |
|  Independence Realty Trust, Inc. (REIT) | 4765 | 78098 |
|  Ingenia Communities Group (REIT) | 8276 | 29791 |
|  InterRent REIT (REIT)(x) | 2738 | 26304 |
|  Irish Residential Properties REIT plc (REIT) | 10388 | 11940 |
|  Killam Apartment REIT (REIT) | 2424 | 31299 |
|  Mid-America Apartment Communities, Inc. (REIT) | 2380 | 332557 |
|  Mitsui Fudosan Accommodations Fund, Inc. (REIT)(x) | 48 | 42844 |
|  NexPoint Residential Trust, Inc. (REIT) | 455 | 14660 |
|  Residential Secure Income plc (REIT)(m) | 3773 | 2923 |
|  Samty Residential Investment Corp. (REIT) | 7 | 5434 |
|  Social Housing REIT plc (REIT)(m) | 7756 | 7343 |
|  Starts Proceed Investment Corp. (REIT) | 4 | 5607 |
|  UDR, Inc. (REIT) | 6758 | 251803 |
|  UNITE Group plc (The) (REIT) | 8662 | 83760 |
|  Veris Residential, Inc. (REIT) | 1599 | 24305 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT REAL ESTATE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Xior Student Housing NV (REIT)(m) | 757 | $25996 |
|  |  | 2993668 |
|  ***Office REITs (5.2%)*** |  |  |
|  Abacus Group (REIT) | 8545 | 6983 |
|  Allied Properties REIT (REIT) | 2585 | 38523 |
|  Brandywine Realty Trust (REIT) | 3486 | 14537 |
|  BXP, Inc. (REIT) | 3240 | 240862 |
|  Centuria Office REIT (REIT) | 10124 | 8039 |
|  Champion REIT (REIT) | 34814 | 9574 |
|  COPT Defense Properties (REIT) | 2308 | 67071 |
|  Cousins Properties, Inc. (REIT) | 3414 | 98801 |
|  Cromwell Property Group (REIT) | 33287 | 10022 |
|  Daiwa Office Investment Corp. (REIT) | 10 | 24681 |
|  Derwent London plc (REIT) | 2175 | 50986 |
|  Dexus (REIT) | 21565 | 102455 |
|  Douglas Emmett, Inc. (REIT) | 3280 | 51070 |
|  Easterly Government Properties, Inc. (REIT), Class A | 837 | 19192 |
|  Empire State Realty Trust, Inc. (REIT), Class A | 2795 | 21410 |
|  Gecina SA (REIT) | 1046 | 104753 |
|  Global One Real Estate Investment Corp. (REIT) | 19 | 18372 |
|  Great Portland Estates plc (REIT) | 7927 | 33955 |
|  Helical plc (REIT) | 2152 | 5933 |
|  Highwoods Properties, Inc. (REIT) | 2169 | 69018 |
|  Ichigo Office REIT Investment Corp. (REIT) | 19 | 12141 |
|  Inmobiliaria Colonial SOCIMI SA (REIT) | 7267 | 47394 |
|  Japan Excellent, Inc. (REIT) | 23 | 22582 |
|  Japan Prime Realty Investment Corp. (REIT) | 73 | 50893 |
|  Japan Real Estate Investment Corp. (REIT) | 137 | 115336 |
|  JBG SMITH Properties (REIT) | 1264 | 28124 |
|  JR Global REIT (REIT) | 3820 | 8154 |
|  Keppel REIT (REIT) | 47938 | 37534 |
|  Kilroy Realty Corp. (REIT) | 2399 | 101358 |
|  Mori Hills REIT Investment Corp. (REIT) | 28 | 27075 |
|  Nippon Building Fund, Inc. (REIT) | 162 | 152815 |
|  NSI NV (REIT) | 300 | 7502 |
|  One REIT, Inc. (REIT) | 13 | 7806 |
|  Orix JREIT, Inc. (REIT) | 107 | 72498 |
|  Paramount Group, Inc. (REIT)\* | 3782 | 24734 |
|  Piedmont Realty Trust, Inc. (REIT) | 2517 | 22653 |
|  Precinct Properties Group (REIT) | 28633 | 21912 |
|  Prosperity REIT (REIT) | 25999 | 4677 |
|  Regional REIT Ltd. (REIT)(m) | 2614 | 4163 |
|  Sankei Real Estate, Inc. (REIT) | 8 | 5464 |
|  Shinhan Alpha REIT Co. Ltd. (REIT) | 2360 | 9386 |
|  SL Green Realty Corp. (REIT) | 1455 | 87024 |
|  Vornado Realty Trust (REIT) | 3608 | 146232 |
|  Workspace Group plc (REIT) | 2668 | 14227 |
|  |  | 2027921 |
|  ***Other Specialized REITs (4.6%)*** |  |  |
|  Arena REIT (REIT) | 7987 | 20506 |
|  Charter Hall Social Infrastructure REIT (REIT) | 7385 | 16566 |
|  EPR Properties (REIT) | 1526 | 88523 |
|  Four Corners Property Trust, Inc. (REIT) | 2021 | 49312 |
|  Gaming and Leisure Properties, Inc. (REIT) | 5554 | 258872 |
|  Iron Mountain, Inc. (REIT) | 6003 | 611946 |
|  Safehold, Inc. (REIT) | 1137 | 17612 |
|  VICI Properties, Inc. (REIT), Class A | 21911 | 714518 |
|  |  | 1777855 |
|  ***Real Estate Development (0.5%)*** |  |  |
|  Henderson Land Development Co. Ltd. | 27000 | 95205 |
|  Lifestyle Communities Ltd.(x)\* | 1961 | 7448 |
|  Sino Land Co. Ltd. | 74333 | 94087 |
|  |  | 196740 |
|  ***Real Estate Operating Companies (7.2%)*** |  |  |
|  Abrdn European Logistics Income plc (REIT)(m) | 8208 | 3610 |
|  Amot Investments Ltd. | 4896 | 36600 |
|  Aroundtown SA\* | 14526 | 55665 |
|  Atrium Ljungberg AB, Class B | 4687 | 15765 |
|  Azrieli Group Ltd. | 749 | 74330 |
|  CA Immobilien Anlagen AG | 556 | 15262 |
|  CapitaLand Investment Ltd. | 46810 | 97615 |
|  Castellum AB | 7016 | 79219 |
|  Catena AB | 862 | 39188 |
|  Cibus Nordic Real Estate AB publ(x) | 1576 | 28383 |
|  Citycon OYJ\* | 1589 | 6104 |
|  Corem Property Group AB, Class B(x) | 16277 | 7120 |
|  Deutsche EuroShop AG | 209 | 4544 |
|  Deutsche Wohnen SE | 989 | 25139 |
|  Dios Fastigheter AB | 2061 | 14295 |
|  Entra ASA(m)\* | 903 | 10768 |
|  Fabege AB | 3855 | 32574 |
|  Fastighets AB Balder, Class B\* | 14166 | 101328 |
|  FastPartner AB, Class A | 959 | 5165 |
|  Grainger plc (REIT) | 14372 | 37498 |
|  Grand City Properties SA\* | 1395 | 18409 |
|  Heba Fastighets AB, Class B | 1510 | 5076 |
|  Hiag Immobilien Holding AG | 86 | 12057 |
|  Hongkong Land Holdings Ltd. | 20882 | 132183 |
|  Hufvudstaden AB, Class A | 2074 | 27934 |
|  Hulic Co. Ltd. | 9491 | 103969 |
|  Hysan Development Co. Ltd. | 12280 | 25090 |
|  Intea Fastigheter AB, Class B\* | 1295 | 9560 |
|  Intershop Holding AG | 110 | 21667 |
|  Kennedy-Wilson Holdings, Inc. | 2449 | 20376 |
|  Kojamo OYJ\* | 3117 | 39706 |
|  LEG Immobilien SE | 1526 | 121291 |
|  Logistea AB, Class B | 4672 | 7623 |
|  Melisron Ltd. | 494 | 59658 |
|  Mobimo Holding AG (Registered) | 148 | 60795 |
|  Neobo Fastigheter AB\* | 1654 | 2957 |
|  NP3 Fastigheter AB(x) | 643 | 17177 |
|  Nyfosa AB | 3261 | 28421 |
|  Pandox AB, Class B | 2166 | 41459 |
|  Platzer Fastigheter Holding AB, Class B | 1284 | 9411 |
|  PSP Swiss Property AG (Registered) | 934 | 160389 |
|  Public Property Invest A/S | 4106 | 9648 |
|  Sagax AB, Class B | 4363 | 90973 |
|  Samhallsbyggnadsbolaget i Norden AB\* | 20698 | 11292 |
|  Sirius Real Estate Ltd. (REIT) | 30278 | 39805 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT REAL ESTATE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  StorageVault Canada, Inc. | 4572 | $16984 |
|  Sveafastigheter AB\* | 1452 | 6246 |
|  Swedish Logistic Property AB, Class B\* | 3452 | 15070 |
|  Swire Properties Ltd. | 19982 | 56850 |
|  Swiss Prime Site AG (Registered) | 1584 | 221467 |
|  TAG Immobilien AG | 3426 | 59128 |
|  VGP NV | 274 | 30593 |
|  Vonovia SE | 14412 | 449237 |
|  Wallenstam AB, Class B(x) | 7143 | 33126 |
|  Wharf Real Estate Investment Co. Ltd. | 32064 | 94767 |
|  Wihlborgs Fastigheter AB | 5516 | 53933 |
|  |  | 2804499 |
|  ***Retail REITs (16.3%)*** |  |  |
|  Acadia Realty Trust (REIT)(x) | 2672 | 53841 |
|  AEON REIT Investment Corp. (REIT) | 35 | 30696 |
|  Agree Realty Corp. (REIT) | 2215 | 157354 |
|  Ascencio (REIT) | 121 | 7288 |
|  Brixmor Property Group, Inc. (REIT) | 6228 | 172391 |
|  BWP Property Group Ltd. (REIT) | 11267 | 27734 |
|  Carmila SA (REIT) | 1290 | 26595 |
|  Charter Hall Retail REIT (REIT) | 11593 | 31682 |
|  Choice Properties REIT (REIT) | 5658 | 59763 |
|  Crombie REIT (REIT) | 2210 | 23931 |
|  Curbline Properties Corp. (REIT) | 1971 | 43953 |
|  Eurocommercial Properties NV (REIT) | 869 | 27190 |
|  Federal Realty Investment Trust (REIT) | 1740 | 176279 |
|  First Capital REIT (REIT) | 4334 | 61567 |
|  Fortune REIT (REIT) | 31391 | 20371 |
|  Frasers Centrepoint Trust (REIT) | 25798 | 46398 |
|  Frontier Real Estate Investment Corp. (REIT) | 50 | 30192 |
|  Fukuoka REIT Corp. (REIT) | 15 | 19201 |
|  Getty Realty Corp. (REIT) | 1072 | 28762 |
|  Hamborner REIT AG (REIT) | 1464 | 9763 |
|  Hammerson plc (REIT) | 9576 | 37426 |
|  HomeCo Daily Needs REIT (REIT)(m) | 36038 | 32312 |
|  Immobiliare Grande Distribuzione SIIQ SpA (REIT) | 1111 | 4500 |
|  InvenTrust Properties Corp. (REIT) | 1580 | 45220 |
|  Japan Metropolitan Fund Invest (REIT) | 137 | 105331 |
|  Kimco Realty Corp. (REIT) | 13669 | 298668 |
|  Kite Realty Group Trust (REIT) | 4472 | 99726 |
|  Kiwi Property Group Ltd. (REIT) | 28764 | 17593 |
|  Klepierre SA (REIT) | 4245 | 165264 |
|  Lendlease Global Commercial REIT (REIT) | 34987 | 16952 |
|  Link REIT (REIT) | 52937 | 272101 |
|  LOTTE REIT Co. Ltd. (REIT) | 3060 | 8495 |
|  Macerich Co. (The) (REIT) | 5143 | 93603 |
|  Mercialys SA (REIT) | 1906 | 24526 |
|  NETSTREIT Corp. (REIT)(x) | 1921 | 34693 |
|  NewRiver REIT plc (REIT) | 7698 | 7413 |
|  NNN REIT, Inc. (REIT) | 3825 | 162830 |
|  Phillips Edison & Co., Inc. (REIT) | 2557 | 87782 |
|  Primaris REIT (REIT) | 2187 | 24090 |
|  Realty Income Corp. (REIT) | 18505 | 1124919 |
|  Regency Centers Corp. (REIT) | 3695 | 269365 |
|  Region Group (REIT) | 23584 | 37297 |
|  Retail Estates NV (REIT) | 237 | 17669 |
|  RioCan REIT (REIT) | 6073 | 82693 |
|  Scentre Group (REIT) | 106538 | 287624 |
|  Shaftesbury Capital plc (REIT) | 30022 | 57294 |
|  Simon Property Group, Inc. (REIT) | 6629 | 1244064 |
|  SmartCentres REIT (REIT)(x) | 2636 | 50667 |
|  Starhill Global REIT (REIT) | 28559 | 12509 |
|  Supermarket Income REIT plc (REIT) | 25147 | 26515 |
|  Tanger, Inc. (REIT) | 2263 | 76580 |
|  Unibail-Rodamco-Westfield (REIT) | 2092 | 219675 |
|  Urban Edge Properties (REIT) | 2576 | 52731 |
|  Vastned NV (REIT) | 165 | 5811 |
|  Vicinity Ltd. (REIT) | 78498 | 130894 |
|  Waypoint REIT Ltd. (REIT) | 12690 | 22672 |
|  Wereldhave NV (REIT) | 773 | 17261 |
|  |  | 6329716 |
|  ***Self-Storage REITs (5.0%)*** |  |  |
|  Abacus Storage King (REIT) | 8210 | 7606 |
|  Big Yellow Group plc (REIT) | 3790 | 49545 |
|  CubeSmart (REIT) | 4631 | 188296 |
|  Extra Space Storage, Inc. (REIT) | 4310 | 607451 |
|  National Storage Affiliates Trust (REIT) | 1440 | 43517 |
|  National Storage REIT (REIT) | 24808 | 38576 |
|  Public Storage (REIT) | 3232 | 933563 |
|  Safestore Holdings plc (REIT) | 4350 | 38495 |
|  Shurgard Self Storage Ltd. (REIT) | 658 | 24914 |
|  |  | 1931963 |
|  ***Single-Family Residential REITs (3.1%)*** |  |  |
|  American Homes 4 Rent (REIT), Class A | 6990 | 232417 |
|  Equity LifeStyle Properties, Inc. (REIT) | 3931 | 238612 |
|  Invitation Homes, Inc. (REIT) | 12519 | 367182 |
|  PRS REIT plc (The) (REIT) | 10331 | 15589 |
|  Sun Communities, Inc. (REIT) | 2585 | 333465 |
|  UMH Properties, Inc. (REIT) | 1609 | 23894 |
|  |  | 1211159 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 38153048 |
|  **Total Common Stocks (99.0%)**<br>*(Cost $35,712,954)* |  | 38403674 |
|  CLOSED END FUNDS**:** |  |  |
|  **Diversified REITs (0.0) †** |  |  |
|  Picton Property Income Ltd. (REIT) | 10653 | 11247 |
|  **Total Closed End Funds (0.0%)**<br>*(Cost $10,658)* |  | 11247 |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Investment Funds (0.8%)** |  |  |
|  iShares U.S. Real Estate ETF(x) | 1912 | 185617 |
|  Vanguard Global ex-U.S. Real Estate ETF | 2674 | 127657 |
|  **Total Exchange Traded Funds (0.8%)**<br>*(Cost $301,569)* |  | 313274 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT REAL ESTATE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Equity Real Estate Investment Trusts (REITs) (0.0%)†** |  |  |
|  ***Data Center REITs (0.0%)†*** |  |  |
|  Keppel DC REIT, expiring 10/13/25<br>*(Cost $–)\** | 2901 | $337 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Company (0.6%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 229217 | 229217 |
|  **Total Short-Term Investments (0.6%)**<br> *(Cost $229,217)* |  | 229217 |
|  **Total Investments in Securities (100.4%)**<br> *(Cost $36,254,398)* |  | 38957749 |
|  **Other Assets Less Liabilities (-0.4%)** |  | (143017) |
|  **Net Assets (100%)** |  | $38814732 |

---

*\** *Non-income producing.* 

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $132,591 or 0.3% of net assets.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $712,637. This was collateralized by $512,406 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.000%, maturing 10/9/25 – 5/15/55 and by cash of $229,217 which was subsequently invested in investment companies.* 

*Glossary:* 

*CVA — Dutch Certification* 

*REIT — Real Estate Investment Trust* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT REAL ESTATE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Closed End Funds** | $— | $11247 | $— | $11247 |
|  **Common Stocks** |  |  |  |  |
|  Consumer Discretionary |  | 8745 |  | 8745 |
|  Health Care | 85493 |  |  | 85493 |
|  Information Technology |  | 156388 |  | 156388 |
|  Real Estate | 24756656 | 13396392 | — (a) | 38153048 |
|  **Exchange Traded Funds** | 313274 |  |  | 313274 |
|  **Rights** |  |  |  |  |
|  Real Estate |  | 337 |  | 337 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 229217 |  |  | 229217 |
|  **Total Assets** | $**25384640** | $**13573109** | $**—** | $**38957749** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**25384640** | $**13573109** | $**—** | $**38957749** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $7265579 |
|  Aggregate gross unrealized depreciation | (5054728) |
|  Net unrealized appreciation | $2210851 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $36746898 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (3.3%)** |  |  |
|  ***Diversified Telecommunication Services (0.1%)*** |  |  |
|  ATN International, Inc. | 1524 | $22814 |
|  Bandwidth, Inc., Class A\* | 3316 | 55278 |
|  IDT Corp., Class B | 604 | 31595 |
|  Liberty Latin America Ltd., Class A\* | 2960 | 24539 |
|  Liberty Latin America Ltd., Class C\* | 21205 | 178970 |
|  Lumen Technologies, Inc.\* | 17133 | 104854 |
|  Shenandoah Telecommunications Co. | 7801 | 104689 |
|  Uniti Group, Inc. | 22413 | 137168 |
|  |  | 659907 |
|  ***Entertainment (1.9%)*** |  |  |
|  AMC Entertainment Holdings, Inc., Class A(x)\* | 67857 | 196785 |
|  Eventbrite, Inc., Class A\* | 11703 | 29492 |
|  Gaia, Inc., Class A\* | 2389 | 14143 |
|  IG Port, Inc.(x) | 40200 | 417263 |
|  Lionsgate Studios Corp.\* | 31888 | 220027 |
|  Live Nation Entertainment, Inc.\* | 32000 | 5228800 |
|  Madison Square Garden Entertainment Corp., Class A\* | 7000 | 316680 |
|  Madison Square Garden Sports Corp.\* | 2200 | 499400 |
|  Marcus Corp. (The) | 3865 | 59946 |
|  Playstudios, Inc.\* | 14346 | 13809 |
|  Playtika Holding Corp. | 6893 | 26814 |
|  Reservoir Media, Inc.\* | 2732 | 22239 |
|  Sphere Entertainment Co.(x)\* | 11357 | 705497 |
|  Starz Entertainment Corp. | 2053 | 30241 |
|  Toei Animation Co. Ltd. | 11200 | 230990 |
|  Vivid Seats, Inc., Class A\* | 177 | 2942 |
|  |  | 8015068 |
|  ***Interactive Media & Services (0.3%)*** |  |  |
|  Angi, Inc., Class A\* | 6366 | 103511 |
|  Bumble, Inc., Class A\* | 10610 | 64615 |
|  Cars.com, Inc.\* | 9017 | 110188 |
|  Getty Images Holdings, Inc.(x)\* | 17132 | 33921 |
|  Nextdoor Holdings, Inc.\* | 33368 | 69739 |
|  Rumble, Inc.(x)\* | 12601 | 91231 |
|  Shutterstock, Inc. | 3851 | 80293 |
|  Teads Holding Co.\* | 5890 | 9718 |
|  TripAdvisor, Inc.(x)\* | 9360 | 152194 |
|  TrueCar, Inc.\* | 11802 | 21716 |
|  Vimeo, Inc.\* | 13514 | 104734 |
|  Webtoon Entertainment, Inc.(x)\* | 2837 | 55066 |
|  Ziff Davis, Inc.\* | 6533 | 248907 |
|  |  | 1145833 |
|  ***Media (0.8%)*** |  |  |
|  Advantage Solutions, Inc.\* | 14374 | 21992 |
|  Altice USA, Inc., Class A\* | 36175 | 87182 |
|  AMC Networks, Inc., Class A\* | 5279 | 43499 |
|  Boston Omaha Corp., Class A(x)\* | 3413 | 44642 |
|  Cable One, Inc.(x) | 798 | 141286 |
|  EchoStar Corp., Class A(x)\* | 21288 | 1625552 |
|  Entravision Communications Corp., Class A | 7700 | 17941 |
|  EW Scripps Co. (The), Class A\* | 10881 | 26767 |
|  Gannett Co., Inc.(x)\* | 3271 | 13509 |
|  Gray Media, Inc. | 14288 | 82585 |
|  iHeartMedia, Inc., Class A\* | 19301 | 55394 |
|  Integral Ad Science Holding Corp.\* | 10672 | 108534 |
|  John Wiley & Sons, Inc., Class A | 417 | 16876 |
|  National CineMedia, Inc. | 10531 | 47495 |
|  Newsmax, Inc., Class B\* | 1590 | 19716 |
|  Nexxen International Ltd.\* | 6204 | 57387 |
|  PubMatic, Inc., Class A\* | 6723 | 55666 |
|  Scholastic Corp. | 3178 | 87014 |
|  Sinclair, Inc.(x) | 5949 | 89830 |
|  TechTarget, Inc.\* | 3730 | 21671 |
|  TEGNA, Inc. | 25315 | 514654 |
|  WideOpenWest, Inc.\* | 7784 | 40165 |
|  |  | 3219357 |
|  ***Wireless Telecommunication Services (0.2%)*** |  |  |
|  Spok Holdings, Inc. | 3054 | 52682 |
|  Telephone and Data Systems, Inc. | 15610 | 612536 |
|  |  | 665218 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 13705383 |
|  **Consumer Discretionary (15.4%)** |  |  |
|  ***Automobile Components (0.9%)*** |  |  |
|  Adient plc\* | 13197 | 317784 |
|  American Axle & Manufacturing Holdings, Inc.(x)\* | 18865 | 113379 |
|  Cooper-Standard Holdings, Inc.\* | 2655 | 98049 |
|  Dana, Inc. | 20783 | 416491 |
|  Dorman Products, Inc.\* | 1800 | 280584 |
|  Fox Factory Holding Corp.\* | 4879 | 118511 |
|  Garrett Motion, Inc. | 21087 | 287205 |
|  Gentherm, Inc.\* | 4674 | 159196 |
|  Goodyear Tire & Rubber Co. (The)\* | 41015 | 306792 |
|  Holley, Inc.\* | 8467 | 26586 |
|  LCI Industries | 3441 | 320529 |
|  Luminar Technologies, Inc., Class A(x)\* | 3693 | 7054 |
|  Motorcar Parts of America, Inc.\* | 2096 | 34668 |
|  Phinia, Inc. | 6051 | 347811 |
|  Solid Power, Inc.(x)\* | 20799 | 72173 |
|  Standard Motor Products, Inc. | 3380 | 137972 |
|  Strattec Security Corp.\* | 642 | 43695 |
|  Visteon Corp. | 4321 | 517915 |
|  |  | 3606394 |
|  ***Automobiles (0.0%)†*** |  |  |
|  Faraday Future Intelligent Electric, |  |  |
|  Inc., Class A(x)\* | 13611 | 17694 |
|  Winnebago Industries, Inc. | 4268 | 142722 |
|  |  | 160416 |
|  ***Broadline Retail (0.1%)*** |  |  |
|  Kohl's Corp.(x) | 17117 | 263088 |
|  Savers Value Village, Inc.(x)\* | 563 | 7460 |
|  |  | 270548 |
|  ***Distributors (0.0%)†*** |  |  |
|  A-Mark Precious Metals, Inc. | 2951 | 76342 |
|  GigaCloud Technology, Inc., Class A(x)\* | 3897 | 110675 |
|  Weyco Group, Inc. | 892 | 26840 |
|  |  | 213857 |
|  ***Diversified Consumer Services (0.4%)*** |  |  |
|  American Public Education, Inc.\* | 215 | 8486 |
|  European Wax Center, Inc., Class A\* | 357 | 1424 |
|  Graham Holdings Co., Class B | 508 | 598074 |
|  Laureate Education, Inc.\* | 13212 | 416706 |
|  Matthews International Corp., Class A | 4613 | 112004 |
|  McGraw Hill, Inc.\* | 855 | 10730 |
|  Mister Car Wash, Inc.\* | 1881 | 10026 |
|  Perdoceo Education Corp. | 9633 | 362779 |
|  Strategic Education, Inc. | 3629 | 312130 |
|  |  | 1832359 |
|  ***Hotels, Restaurants & Leisure (1.0%)*** |  |  |
|  Biglari Holdings, Inc., Class B\* | 112 | 36249 |
|  BJ's Restaurants, Inc.\* | 1088 | 33217 |
|  Bloomin' Brands, Inc. | 5208 | 37341 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Brightstar Lottery plc(x) | 17672 | $304842 |
|  Carnival Corp.\* | 32000 | 925120 |
|  Cracker Barrel Old Country Store, Inc.(x) | 2606 | 114820 |
|  Denny's Corp.(x)\* | 7241 | 37870 |
|  Dine Brands Global, Inc. | 1930 | 47710 |
|  El Pollo Loco Holdings, Inc.\* | 4341 | 42108 |
|  Global Business Travel Group I(x)\* | 2174 | 17566 |
|  Golden Entertainment, Inc. | 2926 | 68995 |
|  Jack in the Box, Inc.(x) | 460 | 9094 |
|  Krispy Kreme, Inc.(x) | 10768 | 41672 |
|  Marriott Vacations Worldwide Corp. | 4395 | 292531 |
|  Nathan's Famous, Inc. | 18 | 1993 |
|  Papa John's International, Inc.(x) | 4689 | 225775 |
|  Portillo's, Inc., Class A(x)\* | 9043 | 58327 |
|  Potbelly Corp.\* | 492 | 8384 |
|  Pursuit Attractions and Hospitality, Inc.\* | 3206 | 115993 |
|  RCI Hospitality Holdings, Inc. | 331 | 10099 |
|  Red Rock Resorts, Inc., Class A | 3446 | 210413 |
|  Sabre Corp.(x)\* | 43454 | 79521 |
|  Serve Robotics, Inc.(x)\* | 839 | 9758 |
|  Six Flags Entertainment Corp.(x)\* | 3140 | 71341 |
|  Target Hospitality Corp.\* | 5167 | 43816 |
|  United Parks & Resorts, Inc.(x)\* | 170 | 8789 |
|  Wendy's Co. (The)(x) | 145400 | 1331864 |
|  |  | 4185208 |
|  ***Household Durables (1.7%)*** |  |  |
|  Bassett Furniture Industries, Inc. | 1148 | 17955 |
|  Beazer Homes USA, Inc.\* | 4361 | 107062 |
|  Century Communities, Inc. | 4052 | 256775 |
|  Cricut, Inc., Class A | 7755 | 48779 |
|  Dream Finders Homes, Inc., Class A(x)\* | 3711 | 96189 |
|  Ethan Allen Interiors, Inc. | 3549 | 104553 |
|  Flexsteel Industries, Inc. | 540 | 25029 |
|  Green Brick Partners, Inc.\* | 3224 | 238125 |
|  Hamilton Beach Brands Holding Co., Class A | 1260 | 18106 |
|  Helen of Troy Ltd.\* | 3705 | 93366 |
|  Hovnanian Enterprises, Inc., Class A\* | 744 | 95597 |
|  KB Home | 10423 | 663320 |
|  La-Z-Boy, Inc. | 6549 | 224762 |
|  Legacy Housing Corp.\* | 1378 | 37909 |
|  Leggett & Platt, Inc. | 20840 | 185059 |
|  LGI Homes, Inc.\* | 3205 | 165730 |
|  Lovesac Co. (The)(x)\* | 826 | 13984 |
|  M/I Homes, Inc.\* | 4118 | 594804 |
|  Meritage Homes Corp. | 11053 | 800569 |
|  Sonos, Inc.\* | 1416 | 22373 |
|  Taylor Morrison Home Corp., Class A\* | 15300 | 1009953 |
|  Traeger, Inc.\* | 5050 | 6161 |
|  Tri Pointe Homes, Inc.\* | 61535 | 2090344 |
|  |  | 6916504 |
|  ***Leisure Products (0.4%)*** |  |  |
|  American Outdoor Brands, Inc.\* | 1982 | 17204 |
|  Clarus Corp. | 3731 | 13059 |
|  Escalade, Inc. | 1476 | 18553 |
|  Funko, Inc., Class A\* | 5600 | 19264 |
|  JAKKS Pacific, Inc. | 1464 | 27421 |
|  Johnson Outdoors, Inc., Class A | 786 | 31747 |
|  Latham Group, Inc.\* | 1110 | 8447 |
|  Malibu Boats, Inc., Class A\* | 2835 | 91996 |
|  Marine Products Corp. | 628 | 5570 |
|  MasterCraft Boat Holdings, Inc.(x)\* | 2750 | 59015 |
|  Outdoor Holding Co.(x)\* | 13565 | 20076 |
|  Peloton Interactive, Inc., Class A\* | 38749 | 348741 |
|  Polaris, Inc. | 8348 | 485269 |
|  Smith & Wesson Brands, Inc.(x) | 7090 | 69695 |
|  Sturm Ruger & Co., Inc. | 1691 | 73508 |
|  Topgolf Callaway Brands Corp.\* | 20655 | 196222 |
|  |  | 1485787 |
|  ***Specialty Retail (10.5%)*** |  |  |
|  1-800-Flowers.com, Inc., Class A(x)\* | 3413 | 15700 |
|  Academy Sports & Outdoors, Inc. | 10414 | 520908 |
|  Advance Auto Parts, Inc.(x) | 9410 | 577774 |
|  American Eagle Outfitters, Inc.(x) | 25502 | 436339 |
|  America's Car-Mart, Inc.(x)\* | 1244 | 36337 |
|  Arko Corp. | 10228 | 46742 |
|  Asbury Automotive Group, Inc.\* | 3088 | 754862 |
|  AutoNation, Inc.\* | 93600 | 20476872 |
|  BARK, Inc.\* | 7089 | 5890 |
|  Barnes & Noble Education, Inc.(x)\* | 2347 | 23353 |
|  Bed Bath & Beyond, Inc.\* | 8882 | 86955 |
|  Buckle, Inc. (The) | 310 | 18185 |
|  Caleres, Inc.(x) | 5392 | 70312 |
|  Citi Trends, Inc.\* | 807 | 25041 |
|  Designer Brands, Inc., Class A(x) | 5024 | 17785 |
|  EVgo, Inc., Class A\* | 17736 | 83891 |
|  Genesco, Inc.\* | 1565 | 45369 |
|  Group 1 Automotive, Inc. | 1116 | 488261 |
|  Haverty Furniture Cos., Inc. | 1964 | 43071 |
|  J Jill, Inc. | 1156 | 19825 |
|  Lands' End, Inc.\* | 1837 | 25902 |
|  MarineMax, Inc.(x)\* | 2728 | 69100 |
|  Monro, Inc.(x) | 4814 | 86508 |
|  National Vision Holdings, Inc.\* | 12226 | 356877 |
|  ODP Corp. (The)\* | 4478 | 124712 |
|  OneWater Marine, Inc., Class A(x)\* | 1747 | 27672 |
|  Penske Automotive Group, Inc. | 93600 | 16277976 |
|  Petco Health & Wellness Co., Inc., Class A(x)\* | 11581 | 44818 |
|  RealReal, Inc. (The)(x)\* | 11360 | 120757 |
|  Sally Beauty Holdings, Inc.\* | 15936 | 259438 |
|  Shoe Carnival, Inc.(x) | 2840 | 59044 |
|  Signet Jewelers Ltd.(x) | 6289 | 603241 |
|  Sleep Number Corp.(x)\* | 2833 | 19888 |
|  Sonic Automotive, Inc., Class A | 1558 | 118548 |
|  Stitch Fix, Inc., Class A\* | 15418 | 67068 |
|  Tile Shop Holdings, Inc.\* | 2818 | 17049 |
|  Torrid Holdings, Inc.\* | 3575 | 6256 |
|  Upbound Group, Inc. | 5321 | 125735 |
|  Urban Outfitters, Inc.\* | 6253 | 446652 |
|  Victoria's Secret & Co.\* | 7627 | 206997 |
|  Winmark Corp. | 463 | 230467 |
|  Zumiez, Inc.\* | 2221 | 43554 |
|  |  | 43131731 |
|  ***Textiles, Apparel & Luxury Goods (0.4%)*** |  |  |
|  Capri Holdings Ltd.\* | 18212 | 362783 |
|  Carter's, Inc.(x) | 5573 | 157270 |
|  G-III Apparel Group Ltd.\* | 6096 | 162215 |
|  Kontoor Brands, Inc. | 1610 | 128430 |
|  Lakeland Industries, Inc.(x) | 1363 | 20173 |
|  Movado Group, Inc. | 14561 | 276222 |
|  Oxford Industries, Inc. | 2148 | 87080 |
|  Rocky Brands, Inc. | 1133 | 33752 |
|  Steven Madden Ltd. | 10261 | 343538 |
|  Superior Group of Cos., Inc. | 1831 | 19628 |
|  |  | 1591091 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 63393895 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  **Consumer Staples (2.6%)** |  |  |
|  ***Beverages (0.0%)†*** |  |  |
|  Crimson Wine Group Ltd.\* | 28000 | $145135 |
|  MGP Ingredients, Inc. | 2260 | 54669 |
|  |  | 199804 |
|  ***Consumer Staples Distribution & Retail (0.3%)*** |  |  |
|  Andersons, Inc. (The) | 5182 | 206295 |
|  Grocery Outlet Holding Corp.(x)\* | 14843 | 238230 |
|  HF Foods Group, Inc.\* | 6494 | 17924 |
|  Ingles Markets, Inc., Class A | 2324 | 161657 |
|  United Natural Foods, Inc.\* | 9408 | 353929 |
|  Village Super Market, Inc., Class A | 1433 | 53537 |
|  Weis Markets, Inc. | 2556 | 183700 |
|  |  | 1215272 |
|  ***Food Products (0.3%)*** |  |  |
|  Alico, Inc. | 699 | 24227 |
|  B&G Foods, Inc.(x) | 12412 | 54985 |
|  Beyond Meat, Inc.(x)\* | 10640 | 20110 |
|  Calavo Growers, Inc. | 312 | 8031 |
|  Dole plc | 11077 | 148875 |
|  Fresh Del Monte Produce, Inc. | 5257 | 182523 |
|  Hain Celestial Group, Inc. (The)\* | 14304 | 22600 |
|  John B Sanfilippo & Son, Inc. | 463 | 29762 |
|  Limoneira Co. | 2499 | 37110 |
|  Mission Produce, Inc.\* | 6700 | 80534 |
|  Seneca Foods Corp., Class A\* | 744 | 80307 |
|  Simply Good Foods Co. (The)\* | 5169 | 128295 |
|  TreeHouse Foods, Inc.\* | 7756 | 156749 |
|  Utz Brands, Inc. | 11121 | 135120 |
|  |  | 1109228 |
|  ***Household Products (0.1%)*** |  |  |
|  Central Garden & Pet Co.\* | 1643 | 53644 |
|  Central Garden & Pet Co., Class A\* | 7642 | 225668 |
|  Energizer Holdings, Inc. | 2254 | 56102 |
|  Oil-Dri Corp. of America | 353 | 21547 |
|  Spectrum Brands Holdings, Inc. | 3708 | 194782 |
|  |  | 551743 |
|  ***Personal Care Products (1.8%)*** |  |  |
|  Beauty Health Co. (The)(x)\* | 3066 | 6101 |
|  Edgewell Personal Care Co. | 7074 | 144027 |
|  Herbalife Ltd.\* | 4391 | 37060 |
|  Honest Co., Inc. (The)\* | 7868 | 28954 |
|  Interparfums, Inc. | 69800 | 6866924 |
|  Medifast, Inc.(x)\* | 1745 | 23854 |
|  Nature's Sunshine Products, Inc.\* | 2052 | 31847 |
|  Nu Skin Enterprises, Inc., Class A | 7764 | 94643 |
|  Olaplex Holdings, Inc.(x)\* | 22527 | 29511 |
|  USANA Health Sciences, Inc.\* | 1842 | 50747 |
|  Waldencast plc, Class A(x)\* | 6440 | 12751 |
|  |  | 7326419 |
|  ***Tobacco (0.1%)*** |  |  |
|  Turning Point Brands, Inc. | 320 | 31635 |
|  Universal Corp. | 3771 | 210686 |
|  |  | 242321 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 10644787 |
|  **Energy (13.8%)** |  |  |
|  ***Energy Equipment & Services (1.5%)*** |  |  |
|  Atlas Energy Solutions, Inc.(x) | 3501 | 39806 |
|  Borr Drilling Ltd.(x) | 38181 | 102707 |
|  Bristow Group, Inc., Class A\* | 4404 | 158896 |
|  Core Laboratories, Inc. | 7613 | 94097 |
|  DMC Global, Inc.\* | 2267 | 19156 |
|  Expro Group Holdings NV\* | 16091 | 191161 |
|  Flowco Holdings, Inc., Class A | 1011 | 15013 |
|  Forum Energy Technologies, Inc.\* | 1656 | 44232 |
|  Helix Energy Solutions Group, Inc.\* | 16618 | 109014 |
|  Helmerich & Payne, Inc.(x) | 15168 | 335061 |
|  Innovex International, Inc.\* | 6191 | 114781 |
|  Liberty Energy, Inc., Class A | 25186 | 310795 |
|  Mammoth Energy Services, Inc.\* | 3693 | 8457 |
|  Nabors Industries Ltd.(x)\* | 2415 | 98701 |
|  National Energy Services Reunited Corp.(x)\* | 8746 | 89734 |
|  Natural Gas Services Group, Inc. | 1228 | 34372 |
|  Noble Corp. plc(x) | 19824 | 560623 |
|  Oceaneering International, Inc.\* | 1786 | 44257 |
|  Oil States International, Inc.\* | 9228 | 55922 |
|  Patterson-UTI Energy, Inc. | 54732 | 283512 |
|  ProFrac Holding Corp., Class A\* | 2071 | 7663 |
|  ProPetro Holding Corp.\* | 12787 | 67004 |
|  Ranger Energy Services, Inc., Class A | 3077 | 43201 |
|  RPC, Inc. | 14210 | 67640 |
|  SEACOR Marine Holdings, Inc.\* | 3636 | 23598 |
|  Seadrill Ltd.\* | 6225 | 188057 |
|  Select Water Solutions, Inc., Class A | 13907 | 148666 |
|  Subsea 7 SA (ADR) | 96400 | 1971380 |
|  TETRA Technologies, Inc.\* | 20575 | 118306 |
|  Tidewater, Inc.\* | 443 | 23625 |
|  Transocean Ltd.(x)\* | 133259 | 415768 |
|  Valaris Ltd.(x)\* | 10024 | 488870 |
|  |  | 6274075 |
|  ***Oil, Gas & Consumable Fuels (12.3%)*** |  |  |
|  Ardmore Shipping Corp. | 5230 | 62080 |
|  Berry Corp. | 12226 | 46214 |
|  BKV Corp.\* | 2637 | 60994 |
|  California Resources Corp. | 10603 | 563868 |
|  Calumet, Inc.(x)\* | 9556 | 174397 |
|  Centrus Energy Corp., Class A(x)\* | 563 | 174569 |
|  Clean Energy Fuels Corp.\* | 28653 | 73925 |
|  CNX Resources Corp.(x)\* | 21482 | 690002 |
|  Comstock Resources, Inc.(x)\* | 3683 | 73034 |
|  Core Natural Resources, Inc. | 5357 | 447202 |
|  Crescent Energy Co., Class A | 27911 | 248966 |
|  DHT Holdings, Inc. | 19918 | 238020 |
|  Diversified Energy Co. plc(m) | 8913 | 124871 |
|  Dorian LPG Ltd. | 5763 | 171737 |
|  Encore Energy Corp.(x)\* | 29764 | 95542 |
|  Energy Fuels, Inc.(x)\* | 24589 | 377441 |
|  Epsilon Energy Ltd. | 2392 | 12056 |
|  Excelerate Energy, Inc., Class A | 3759 | 94689 |
|  FLEX LNG Ltd. | 4158 | 104782 |
|  FutureFuel Corp. | 4174 | 16195 |
|  Gevo, Inc.(x)\* | 37377 | 73259 |
|  Golar LNG Ltd. | 15657 | 632699 |
|  Granite Ridge Resources, Inc. | 8323 | 45027 |
|  Green Plains, Inc.\* | 9872 | 86775 |
|  HighPeak Energy, Inc.(x) | 2882 | 20376 |
|  Infinity Natural Resources, Inc., Class A(x)\* | 1839 | 24109 |
|  International Seaways, Inc. | 6302 | 290396 |
|  Kinetik Holdings, Inc., Class A(x) | 1792 | 76590 |
|  Kolibri Global Energy, Inc.(x)\* | 3492 | 19381 |
|  Kosmos Energy Ltd.(x)\* | 73714 | 122365 |
|  Magnolia Oil & Gas Corp., Class A | 23583 | 562926 |
|  Murphy Oil Corp. | 21249 | 603684 |
|  NACCO Industries, Inc., Class A | 667 | 28121 |
|  Navigator Holdings Ltd. | 5055 | 78302 |
|  New Fortress Energy, Inc.(x)\* | 27608 | 61014 |
|  NextNRG, Inc.(x)\* | 1956 | 3580 |
|  Nordic American Tankers Ltd.(x) | 32410 | 101767 |
|  Northern Oil & Gas, Inc.(x) | 15096 | 374381 |
|  Par Pacific Holdings, Inc.\* | 5703 | 202000 |
|  PBF Energy, Inc., Class A | 13154 | 396856 |
|  Peabody Energy Corp. | 19234 | 510086 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Permian Basin Royalty Trust | 25900 | $472675 |
|  Prairie Operating Co.(x)\* | 3115 | 6183 |
|  PrairieSky Royalty Ltd.(x) | 91000 | 1688309 |
|  PrimeEnergy Resources Corp.\* | 50 | 8352 |
|  REX American Resources Corp.\* | 3514 | 107599 |
|  Riley Exploration Permian, Inc.(x) | 1717 | 46548 |
|  SandRidge Energy, Inc. | 5926 | 66845 |
|  Scorpio Tankers, Inc. | 7042 | 394704 |
|  SFL Corp. Ltd.(x) | 18689 | 140728 |
|  SM Energy Co. | 17950 | 448212 |
|  Summit Midstream Corp.\* | 1572 | 32289 |
|  Talos Energy, Inc.\* | 18808 | 180369 |
|  Teekay Corp. Ltd. | 8451 | 69129 |
|  Teekay Tankers Ltd., Class A | 3776 | 190877 |
|  Texas Pacific Land Corp. | 40670 | 37971139 |
|  VAALCO Energy, Inc.(x) | 15268 | 61377 |
|  Vital Energy, Inc.\* | 4529 | 76495 |
|  Vitesse Energy, Inc.(x) | 4499 | 104512 |
|  W&T Offshore, Inc.(x) | 15329 | 27899 |
|  World Kinect Corp. | 7593 | 197038 |
|  XCF Global, Inc., Class A\* | 4939 | 6470 |
|  |  | 50462027 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 56736102 |
|  **Financials (16.7%)** |  |  |
|  ***Banks (9.2%)*** |  |  |
|  1st Source Corp. | 2950 | 181602 |
|  ACNB Corp. | 1607 | 70772 |
|  Amalgamated Financial Corp. | 3731 | 101297 |
|  Amerant Bancorp, Inc., Class A | 3371 | 64959 |
|  Ameris Bancorp | 10538 | 772541 |
|  Ames National Corp. | 1585 | 32049 |
|  Arrow Financial Corp. | 2678 | 75787 |
|  Associated Banc-Corp. | 26236 | 674528 |
|  Atlantic Union Bankshares Corp. | 22370 | 789437 |
|  Axos Financial, Inc.\* | 7379 | 624632 |
|  Banc of California, Inc. | 18852 | 312001 |
|  BancFirst Corp. | 270 | 34142 |
|  Bank First Corp.(x) | 1216 | 147513 |
|  Bank of Hawaii Corp. | 1371 | 89992 |
|  Bank of Marin Bancorp | 2290 | 55601 |
|  Bank of NT Butterfield & Son Ltd. (The) | 6600 | 283272 |
|  Bank7 Corp. | 682 | 31556 |
|  BankFinancial Corp. | 1232 | 14821 |
|  BankUnited, Inc. | 11891 | 453761 |
|  Bankwell Financial Group, Inc. | 977 | 43232 |
|  Banner Corp. | 5393 | 353242 |
|  Bar Harbor Bankshares | 2363 | 71977 |
|  BayCom Corp. | 1683 | 48386 |
|  BCB Bancorp, Inc. | 2350 | 20398 |
|  Beacon Financial Corp. | 13129 | 311289 |
|  Blue Foundry Bancorp\* | 3343 | 30388 |
|  Blue Ridge Bankshares, Inc.\* | 9584 | 40540 |
|  Bridgewater Bancshares, Inc.\* | 2050 | 36080 |
|  Burke & Herbert Financial Services Corp. | 2108 | 130043 |
|  Business First Bancshares, Inc. | 4418 | 104309 |
|  BV Financial, Inc.(x)\* | 1269 | 20456 |
|  Byline Bancorp, Inc. | 4374 | 121291 |
|  C&F Financial Corp. | 483 | 32458 |
|  Cadence Bank | 27152 | 1019286 |
|  California Bancorp\* | 2943 | 49089 |
|  Camden National Corp. | 2606 | 100566 |
|  Capital Bancorp, Inc. | 1432 | 45681 |
|  Capital City Bank Group, Inc. | 2234 | 93359 |
|  Capitol Federal Financial, Inc. | 19115 | 121380 |
|  Carter Bankshares, Inc.\* | 2983 | 57900 |
|  Cathay General Bancorp | 10762 | 516684 |
|  CB Financial Services, Inc. | 658 | 21852 |
|  Central Pacific Financial Corp. | 4251 | 128975 |
|  CF Bankshares, Inc. | 543 | 13005 |
|  Chain Bridge Bancorp, Inc., Class A\* | 347 | 11357 |
|  Chemung Financial Corp. | 550 | 28886 |
|  ChoiceOne Financial Services, Inc. | 2174 | 62959 |
|  Citizens & Northern Corp. | 2339 | 46336 |
|  Citizens Community Bancorp, Inc. | 1360 | 21855 |
|  Citizens Financial Services, Inc. | 726 | 43763 |
|  City Holding Co. | 817 | 101202 |
|  Civista Bancshares, Inc. | 2876 | 58412 |
|  CNB Financial Corp.(x) | 4322 | 104592 |
|  CoastalSouth Bancshares, Inc.\* | 377 | 8222 |
|  Colony Bankcorp, Inc. | 2941 | 50026 |
|  Columbia Financial, Inc.\* | 4229 | 63477 |
|  Community Financial System, Inc. | 6411 | 375941 |
|  Community Trust Bancorp, Inc. | 2412 | 134951 |
|  Community West Bancshares | 2103 | 43827 |
|  ConnectOne Bancorp, Inc. | 5706 | 141566 |
|  Customers Bancorp, Inc.\* | 4299 | 281026 |
|  CVB Financial Corp. | 20752 | 392420 |
|  Dime Community Bancshares, Inc. | 5111 | 152461 |
|  Eagle Bancorp Montana, Inc. | 1032 | 17823 |
|  Eagle Bancorp, Inc. | 3462 | 70002 |
|  Eagle Financial Services, Inc. | 564 | 21336 |
|  Eastern Bankshares, Inc.(x) | 30755 | 558203 |
|  ECB Bancorp, Inc.\* | 959 | 15219 |
|  Enterprise Financial Services Corp. | 5830 | 338023 |
|  Equity Bancshares, Inc., Class A | 2249 | 91534 |
|  Farmers & Merchants Bancorp, Inc. | 2151 | 53797 |
|  Farmers National Banc Corp. | 5833 | 84054 |
|  FB Bancorp, Inc.\* | 2708 | 32550 |
|  FB Financial Corp. | 6562 | 365766 |
|  Fidelity D&D Bancorp, Inc. | 746 | 32697 |
|  Financial Institutions, Inc. | 3109 | 84565 |
|  Finward Bancorp | 447 | 14344 |
|  Finwise Bancorp(x)\* | 552 | 10703 |
|  First Bancorp (Nasdaq Stock Exchange)(x) | 6359 | 336328 |
|  First Bancorp (New York Stock Exchange) | 11858 | 261469 |
|  First Bancorp, Inc. (The) | 1802 | 47321 |
|  First Bank | 3555 | 57911 |
|  First Busey Corp. | 13377 | 309678 |
|  First Business Financial Services, Inc. | 1186 | 60794 |
|  First Capital, Inc. | 507 | 23221 |
|  First Commonwealth Financial Corp. | 16249 | 277045 |
|  First Community Bankshares, Inc. | 2479 | 86269 |
|  First Community Corp. | 742 | 20939 |
|  First Financial Bancorp | 15128 | 381982 |
|  First Financial Corp. | 1617 | 91264 |
|  First Foundation, Inc.\* | 9873 | 54993 |
|  First Internet Bancorp | 734 | 16464 |
|  First Interstate BancSystem, Inc., Class A | 14056 | 447965 |
|  First Merchants Corp. | 8719 | 328706 |
|  First Mid Bancshares, Inc. | 3435 | 130118 |
|  First National Corp. | 1033 | 23428 |
|  First Savings Financial Group, Inc. | 825 | 25930 |
|  First United Corp.(x) | 950 | 34932 |
|  First Western Financial, Inc.\* | 923 | 21252 |
|  Firstsun Capital Bancorp\* | 1997 | 77464 |
|  Five Star Bancorp | 1188 | 38254 |
|  Flagstar Financial, Inc. | 47662 | 550496 |
|  Flushing Financial Corp. | 4815 | 66495 |
|  Franklin Financial Services Corp.(x) | 625 | 28750 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  FS Bancorp, Inc. | 1116 | $44551 |
|  Fulton Financial Corp. | 28826 | 537028 |
|  FVCBankcorp, Inc. | 2837 | 36796 |
|  GBank Financial Holdings, Inc.(x)\* | 1390 | 54585 |
|  German American Bancorp, Inc. | 5599 | 219873 |
|  Glacier Bancorp, Inc.(x) | 14826 | 721581 |
|  Great Southern Bancorp, Inc. | 1371 | 83974 |
|  Greene County Bancorp, Inc. | 343 | 7752 |
|  Guaranty Bancshares, Inc. | 1319 | 64301 |
|  Hancock Whitney Corp. | 13788 | 863267 |
|  Hanmi Financial Corp. | 4661 | 115080 |
|  Hanover Bancorp, Inc. | 536 | 12033 |
|  HarborOne Bancorp, Inc. | 6018 | 81845 |
|  Hawthorn Bancshares, Inc. | 889 | 27595 |
|  HBT Financial, Inc. | 2085 | 52542 |
|  Heritage Commerce Corp. | 9137 | 90730 |
|  Heritage Financial Corp. | 5248 | 126949 |
|  Hilltop Holdings, Inc. | 7085 | 236781 |
|  Hingham Institution For Savings (The)(x) | 248 | 65417 |
|  Home Bancorp, Inc. | 1179 | 64049 |
|  Home BancShares, Inc. | 29822 | 843963 |
|  HomeTrust Bancshares, Inc. | 2476 | 101367 |
|  Hope Bancorp, Inc. | 17848 | 192223 |
|  Horizon Bancorp, Inc. | 6555 | 104946 |
|  Independent Bank Corp. | 3237 | 100266 |
|  Independent Bank Corp./MA | 7678 | 531087 |
|  International Bancshares Corp. | 7749 | 532744 |
|  Investar Holding Corp. | 1437 | 33353 |
|  John Marshall Bancorp, Inc. | 1937 | 38391 |
|  Kearny Financial Corp. | 8894 | 58434 |
|  Lakeland Financial Corp. | 1712 | 109910 |
|  Landmark Bancorp, Inc.(x) | 670 | 17882 |
|  LCNB Corp. | 1923 | 28826 |
|  LINKBANCORP, Inc. | 3194 | 22773 |
|  Live Oak Bancshares, Inc. | 3231 | 113796 |
|  MainStreet Bancshares, Inc.(x) | 952 | 19830 |
|  Mechanics Bancorp\* | 2952 | 39291 |
|  Mercantile Bank Corp. | 2501 | 112545 |
|  Meridian Corp. | 1141 | 18016 |
|  Metrocity Bankshares, Inc. | 1403 | 38849 |
|  Metropolitan Bank Holding Corp. | 1149 | 85968 |
|  Mid Penn Bancorp, Inc. | 3178 | 91018 |
|  Middlefield Banc Corp. | 1244 | 37332 |
|  Midland States Bancorp, Inc. | 3103 | 53185 |
|  MidWestOne Financial Group, Inc. | 2339 | 66170 |
|  MVB Financial Corp. | 1905 | 47739 |
|  National Bank Holdings Corp., Class A | 5814 | 224653 |
|  National Bankshares, Inc. | 962 | 28321 |
|  NB Bancorp, Inc. | 5431 | 95857 |
|  NBT Bancorp, Inc. | 7546 | 315121 |
|  Nicolet Bankshares, Inc. | 1526 | 205247 |
|  Northeast Bank | 512 | 51282 |
|  Northeast Community Bancorp, Inc. | 2148 | 44184 |
|  Northfield Bancorp, Inc. | 5021 | 59248 |
|  Northpointe Bancshares, Inc.(x) | 1609 | 27482 |
|  Northrim Bancorp, Inc. | 1512 | 32750 |
|  Northwest Bancshares, Inc. | 22596 | 279964 |
|  Norwood Financial Corp. | 1150 | 29233 |
|  Oak Valley Bancorp | 1174 | 33072 |
|  OceanFirst Financial Corp. | 9008 | 158271 |
|  OFG Bancorp | 7008 | 304778 |
|  Ohio Valley Banc Corp. | 591 | 21855 |
|  Old National Bancorp | 48501 | 1064597 |
|  Old Second Bancorp, Inc. | 7290 | 126008 |
|  OP Bancorp(x) | 1671 | 23260 |
|  Orange County Bancorp, Inc. | 1521 | 38344 |
|  Origin Bancorp, Inc. | 4364 | 150645 |
|  Orrstown Financial Services, Inc. | 2974 | 101057 |
|  Park National Corp. | 2338 | 379995 |
|  Parke Bancorp, Inc. | 1834 | 39523 |
|  PCB Bancorp | 1636 | 34356 |
|  Peapack-Gladstone Financial Corp. | 1444 | 39854 |
|  Peoples Bancorp of North Carolina, Inc. | 706 | 21646 |
|  Peoples Bancorp, Inc. | 5346 | 160327 |
|  Peoples Financial Services Corp. | 1209 | 58770 |
|  Pioneer Bancorp, Inc.\* | 1697 | 22163 |
|  Plumas Bancorp | 877 | 37834 |
|  Ponce Financial Group, Inc.(x)\* | 3122 | 45893 |
|  Preferred Bank | 1227 | 110909 |
|  Primis Financial Corp. | 3294 | 34620 |
|  Princeton Bancorp, Inc. | 881 | 28051 |
|  Provident Bancorp, Inc.\* | 2276 | 28518 |
|  Provident Financial Services, Inc. | 16862 | 325099 |
|  QCR Holdings, Inc. | 2607 | 197193 |
|  RBB Bancorp | 2731 | 51234 |
|  Red River Bancshares, Inc. | 734 | 47578 |
|  Renasant Corp. | 14888 | 549218 |
|  Republic Bancorp, Inc., Class A | 1417 | 102378 |
|  Rhinebeck Bancorp, Inc.\* | 491 | 5578 |
|  Richmond Mutual Bancorp, Inc. | 1126 | 16000 |
|  Riverview Bancorp, Inc. | 2942 | 15799 |
|  S&T Bancorp, Inc. | 5990 | 225164 |
|  SB Financial Group, Inc. | 884 | 17052 |
|  Seacoast Banking Corp. of Florida | 13323 | 405419 |
|  Shore Bancshares, Inc. | 3798 | 62325 |
|  Sierra Bancorp | 2074 | 59959 |
|  Simmons First National Corp., Class A | 22177 | 425133 |
|  SmartFinancial, Inc. | 1935 | 69138 |
|  Sound Financial Bancorp, Inc. | 264 | 12160 |
|  South Plains Financial, Inc. | 2111 | 81590 |
|  Southern First Bancshares, Inc.\* | 1229 | 54223 |
|  Southern Missouri Bancorp, Inc. | 1396 | 73374 |
|  Southside Bancshares, Inc. | 4307 | 121673 |
|  SR Bancorp, Inc. | 907 | 13687 |
|  Stellar Bancorp, Inc. | 7389 | 224182 |
|  Sterling Bancorp, Inc.(r)\* | 3185 |  |
|  Stock Yards Bancorp, Inc. | 164 | 11478 |
|  Texas Capital Bancshares, Inc.\* | 6200 | 524086 |
|  Third Coast Bancshares, Inc.\* | 2051 | 77876 |
|  Timberland Bancorp, Inc. | 1332 | 44329 |
|  Tompkins Financial Corp. | 2139 | 141623 |
|  Towne Bank | 11353 | 392473 |
|  TriCo Bancshares | 4841 | 214989 |
|  Triumph Financial, Inc.\* | 1962 | 98179 |
|  TrustCo Bank Corp. | 2984 | 108319 |
|  Trustmark Corp. | 9143 | 362063 |
|  UMB Financial Corp. | 10494 | 1241965 |
|  United Bankshares, Inc. | 22235 | 827364 |
|  United Community Banks, Inc. | 19359 | 606905 |
|  United Security Bancshares | 1781 | 16617 |
|  Unity Bancorp, Inc. | 599 | 29273 |
|  Univest Financial Corp. | 4609 | 138362 |
|  USCB Financial Holdings, Inc. | 1203 | 20992 |
|  Valley National Bancorp | 58023 | 615044 |
|  Veritex Holdings, Inc. | 8340 | 279640 |
|  Virginia National Bankshares Corp. | 653 | 25343 |
|  WaFd, Inc. | 12347 | 373991 |
|  Washington Trust Bancorp, Inc. | 2771 | 80082 |
|  WesBanco, Inc. | 14070 | 449255 |
|  West Bancorp, Inc. | 2328 | 47305 |
|  Westamerica Bancorp | 3864 | 193161 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Western New England Bancorp, Inc.(x) | 2606 | $31298 |
|  WSFS Financial Corp. | 8903 | 480139 |
|  |  | 38047120 |
|  ***Capital Markets (2.5%)*** |  |  |
|  AlTi Global, Inc.(x)\* | 6465 | 23015 |
|  Artisan Partners Asset Management, Inc., Class A | 4408 | 191307 |
|  Associated Capital Group, Inc., Class A‡ | 47400 | 1589322 |
|  Bakkt Holdings, Inc., Class A(x)\* | 101252 | 3407130 |
|  Cohen & Steers, Inc. | 378 | 24801 |
|  Diamond Hill Investment Group, Inc. | 350 | 49004 |
|  DigitalBridge Group, Inc. | 26879 | 314484 |
|  Donnelley Financial Solutions, Inc.\* | 1211 | 62282 |
|  Fairfax India Holdings Corp.(m)\* | 5000 | 86250 |
|  Federated Hermes, Inc., Class B | 5400 | 280422 |
|  Forge Global Holdings, Inc.(x)\* | 1628 | 27513 |
|  Galaxy Digital, Inc., Class A(x)\* | 25000 | 845546 |
|  GAMCO Investors, Inc., Class A | 32400 | 752652 |
|  GCM Grosvenor, Inc., Class A(x) | 744 | 8980 |
|  Marex Group plc | 2636 | 88622 |
|  MarketWise, Inc. | 365 | 6033 |
|  Miami International Holdings, Inc.\* | 46590 | 1875713 |
|  Onex Corp. | 1000 | 88680 |
|  Open Lending Corp.(x)\* | 15919 | 33589 |
|  OTC Markets Group, Inc., Class A | 100 | 5300 |
|  Siebert Financial Corp.(x)\* | 2299 | 6713 |
|  Silvercrest Asset Management Group, Inc., Class A | 1142 | 17987 |
|  Urbana Corp. | 18400 | 100614 |
|  Urbana Corp. (Non-Voting) | 20800 | 109104 |
|  Virtus Investment Partners, Inc. | 1026 | 194971 |
|  Westwood Holdings Group, Inc. | 1116 | 18403 |
|  |  | 10208437 |
|  ***Consumer Finance (0.5%)*** |  |  |
|  Atlanticus Holdings Corp.\* | 804 | 47098 |
|  Bread Financial Holdings, Inc. | 5975 | 333226 |
|  Consumer Portfolio Services, Inc.\* | 1457 | 11000 |
|  Encore Capital Group, Inc.\* | 3550 | 148177 |
|  Green Dot Corp., Class A\* | 8623 | 115807 |
|  Jefferson Capital, Inc. | 930 | 16052 |
|  LendingClub Corp.\* | 17811 | 270549 |
|  LendingTree, Inc.\* | 147 | 9515 |
|  Medallion Financial Corp. | 2861 | 28896 |
|  Navient Corp. | 11060 | 145439 |
|  Nelnet, Inc., Class A | 2046 | 256528 |
|  Oportun Financial Corp.\* | 6244 | 38526 |
|  PRA Group, Inc.\* | 6326 | 97674 |
|  PROG Holdings, Inc. | 6206 | 200826 |
|  Regional Management Corp. | 1280 | 49869 |
|  Vroom, Inc.\* | 208 | 5622 |
|  World Acceptance Corp.\* | 423 | 71546 |
|  |  | 1846350 |
|  ***Financial Services (1.6%)*** |  |  |
|  Acacia Research Corp.(x)\* | 5621 | 18268 |
|  Alerus Financial Corp. | 3637 | 80523 |
|  Banco Latinoamericano de Comercio Exterior SA, Class E | 4521 | 207830 |
|  Better Home & Finance Holding Co.(x)\* | 689 | 38680 |
|  Burford Capital Ltd. | 11555 | 138198 |
|  Cannae Holdings, Inc. | 8976 | 164351 |
|  Cass Information Systems, Inc. | 70 | 2753 |
|  Compass Diversified Holdings | 10824 | 71655 |
|  Enact Holdings, Inc. | 4624 | 177284 |
|  Essent Group Ltd. | 15331 | 974438 |
|  Federal Agricultural Mortgage Corp., Class C | 144 | 24189 |
|  Finance of America Cos., Inc., Class A(x)\* | 706 | 15836 |
|  Flywire Corp.\* | 1835 | 24846 |
|  HA Sustainable Infrastructure Capital, Inc. | 18770 | 576239 |
|  Jackson Financial, Inc., Class A | 11154 | 1129119 |
|  loanDepot, Inc., Class A(x)\* | 12314 | 37804 |
|  Marqeta, Inc., Class A\* | 32807 | 173221 |
|  Merchants Bancorp | 4014 | 127645 |
|  NewtekOne, Inc. | 3682 | 42159 |
|  NMI Holdings, Inc., Class A\* | 12315 | 472157 |
|  Onity Group, Inc.\* | 1081 | 43197 |
|  Pagseguro Digital Ltd., Class A | 11059 | 110590 |
|  Paysafe Ltd.(x)\* | 5330 | 68864 |
|  PennyMac Financial Services, Inc. | 4605 | 570467 |
|  Radian Group, Inc. | 21362 | 773732 |
|  Repay Holdings Corp., Class A\* | 12877 | 67347 |
|  Security National Financial Corp., Class A\* | 2495 | 21632 |
|  Sezzle, Inc.\* | 220 | 17497 |
|  SWK Holdings Corp.(x) | 665 | 9676 |
|  Triller Group, Inc.\* | 16387 | 13603 |
|  Velocity Financial, Inc.\* | 1481 | 26865 |
|  Walker & Dunlop, Inc. | 5169 | 432232 |
|  Waterstone Financial, Inc. | 2642 | 41215 |
|  |  | 6694112 |
|  ***Insurance (2.0%)*** |  |  |
|  Abacus Global Management, Inc.\* | 4008 | 22966 |
|  Ambac Financial Group, Inc.\* | 6814 | 56829 |
|  American Coastal Insurance Corp. | 2090 | 23805 |
|  American Integrity Insurance Group, Inc.\* | 516 | 11512 |
|  AMERISAFE, Inc. | 1348 | 59096 |
|  Aspen Insurance Holdings Ltd., Class A\* | 1018 | 37371 |
|  Ategrity Specialty Holdings LLC\* | 306 | 6050 |
|  Citizens, Inc., Class A\* | 7439 | 39055 |
|  CNO Financial Group, Inc. | 15338 | 606618 |
|  Donegal Group, Inc., Class A | 2808 | 54447 |
|  eHealth, Inc.\* | 4484 | 19326 |
|  Employers Holdings, Inc. | 3815 | 162061 |
|  F&G Annuities & Life, Inc. | 3139 | 98156 |
|  Fidelis Insurance Holdings Ltd. | 9307 | 168922 |
|  Genworth Financial, Inc., Class A\* | 65332 | 581455 |
|  GoHealth, Inc., Class A\* | 670 | 3229 |
|  Goosehead Insurance, Inc., Class A | 817 | 60801 |
|  Greenlight Capital Re Ltd., Class A\* | 4641 | 58941 |
|  Hamilton Insurance Group Ltd., Class B\* | 7362 | 182578 |
|  Heritage Insurance Holdings, Inc.\* | 879 | 22133 |
|  Hippo Holdings, Inc.(x)\* | 1363 | 49286 |
|  Horace Mann Educators Corp. | 6439 | 290850 |
|  Investors Title Co. | 211 | 56512 |
|  James River Group Holdings Ltd. | 6095 | 33827 |
|  Kestrel Group Ltd. | 149 | 4069 |
|  Kingstone Cos., Inc. | 162 | 2381 |
|  MBIA, Inc.(x)\* | 7415 | 55242 |
|  Mercury General Corp. | 4255 | 360739 |
|  NI Holdings, Inc.\* | 873 | 11838 |
|  ProAssurance Corp.\* | 8007 | 192088 |
|  Safety Insurance Group, Inc. | 2280 | 161173 |
|  Selective Insurance Group, Inc. | 1129 | 91528 |
|  Selectquote, Inc.\* | 7163 | 14039 |
|  SiriusPoint Ltd.\* | 11821 | 213842 |
|  Slide Insurance Holdings, Inc.\* | 2109 | 33291 |
|  Stewart Information Services Corp. | 4370 | 320408 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Tiptree, Inc., Class A | 2842 | $54481 |
|  United Fire Group, Inc. | 3278 | 99717 |
|  Universal Insurance Holdings, Inc. | 3296 | 86685 |
|  White Mountains Insurance Group Ltd. | 2294 | 3834467 |
|  |  | 8241814 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.9%)*** |  |  |
|  ACRES Commercial Realty Corp. (REIT)(x)\* | 974 | 20610 |
|  Adamas Trust, Inc. (REIT)(x) | 13308 | 92757 |
|  Advanced Flower Capital, Inc. (REIT)(x) | 3065 | 11739 |
|  AG Mortgage Investment Trust, Inc. (REIT) | 4699 | 34021 |
|  Angel Oak Mortgage REIT, Inc. (REIT) | 1402 | 13137 |
|  Apollo Commercial Real Estate Finance, Inc. (REIT)(x) | 11175 | 113203 |
|  Arbor Realty Trust, Inc. (REIT)(x) | 27611 | 337130 |
|  Ares Commercial Real Estate Corp. (REIT)(x) | 8387 | 37825 |
|  ARMOUR Residential REIT, Inc. (REIT)(x) | 16885 | 252262 |
|  Blackstone Mortgage Trust, Inc. (REIT), Class A | 25683 | 472824 |
|  BrightSpire Capital, Inc. (REIT), Class A(x) | 21125 | 114709 |
|  Chicago Atlantic Real Estate Finance, Inc. (REIT) | 2856 | 36528 |
|  Chimera Investment Corp. (REIT) | 12511 | 165395 |
|  Claros Mortgage Trust, Inc. (REIT)\* | 15453 | 51304 |
|  Dynex Capital, Inc. (REIT)(x) | 19357 | 237898 |
|  Ellington Financial, Inc. (REIT)(x) | 14885 | 193207 |
|  Franklin BSP Realty Trust, Inc. (REIT)(x) | 13144 | 142744 |
|  Invesco Mortgage Capital, Inc. (REIT)(x) | 11298 | 85413 |
|  KKR Real Estate Finance Trust, Inc. (REIT)(x) | 9172 | 82548 |
|  Ladder Capital Corp. (REIT) | 18859 | 205752 |
|  Lument Finance Trust, Inc. (REIT) | 7058 | 14257 |
|  MFA Financial, Inc. (REIT) | 16178 | 148676 |
|  Nexpoint Real Estate Finance, Inc. (REIT) | 1397 | 19810 |
|  Orchid Island Capital, Inc. (REIT)(x) | 18316 | 128395 |
|  PennyMac Mortgage Investment Trust (REIT)(x) | 14194 | 174018 |
|  Ready Capital Corp. (REIT)(x) | 27077 | 104788 |
|  Redwood Trust, Inc. (REIT) | 21684 | 125550 |
|  Rithm Property Trust, Inc. (REIT) | 6085 | 15334 |
|  Seven Hills Realty Trust (REIT) | 2203 | 22713 |
|  Sunrise Realty Trust, Inc. (REIT) | 1623 | 16863 |
|  TPG RE Finance Trust, Inc. (REIT) | 11131 | 95281 |
|  Two Harbors Investment Corp. (REIT)(x) | 8266 | 81585 |
|  |  | 3648276 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 68686109 |
|  **Health Care (4.8%)** |  |  |
|  ***Biotechnology (2.4%)*** |  |  |
|  4D Molecular Therapeutics, Inc.(x)\* | 6335 | 55051 |
|  89bio, Inc.\* | 13288 | 195334 |
|  Abeona Therapeutics, Inc.\* | 1005 | 5306 |
|  Absci Corp.(x)\* | 3276 | 9959 |
|  Agios Pharmaceuticals, Inc.\* | 8833 | 354557 |
|  Akebia Therapeutics, Inc.(x)\* | 34049 | 92954 |
|  Aldeyra Therapeutics, Inc.\* | 2162 | 11286 |
|  Alector, Inc.\* | 11039 | 32675 |
|  Alkermes plc\* | 6285 | 188550 |
|  Allogene Therapeutics, Inc.\* | 23989 | 29746 |
|  Anika Therapeutics, Inc.\* | 1919 | 18039 |
|  Annexon, Inc.\* | 15735 | 47992 |
|  Arbutus Biopharma Corp.(x)\* | 1625 | 7377 |
|  Arcturus Therapeutics Holdings, Inc.\* | 2488 | 45854 |
|  Arcus Biosciences, Inc.\* | 2905 | 39508 |
|  Astria Therapeutics, Inc.\* | 5634 | 41016 |
|  aTyr Pharma, Inc.(x)\* | 1109 | 800 |
|  Aura Biosciences, Inc.(x)\* | 4547 | 28100 |
|  Avidity Biosciences, Inc.\* | 1271 | 55377 |
|  Bicara Therapeutics, Inc.(x)\* | 5119 | 80829 |
|  Candel Therapeutics, Inc.(x)\* | 1214 | 6191 |
|  Cardiff Oncology, Inc.(x)\* | 5879 | 12111 |
|  Cartesian Therapeutics, Inc.(x)\* | 1175 | 12008 |
|  Celcuity, Inc.\* | 220 | 10868 |
|  Celldex Therapeutics, Inc.\* | 10147 | 262503 |
|  Cidara Therapeutics, Inc.\* | 2414 | 231165 |
|  Cogent Biosciences, Inc.\* | 987 | 14173 |
|  Coherus Oncology, Inc.(x)\* | 11956 | 19608 |
|  Compass Therapeutics, Inc.\* | 7611 | 26638 |
|  CRISPR Therapeutics AG(x)\* | 12948 | 839160 |
|  Cullinan Therapeutics, Inc.\* | 8099 | 48027 |
|  Cytokinetics, Inc.\* | 16266 | 893979 |
|  Day One Biopharmaceuticals, Inc.\* | 10822 | 76295 |
|  Denali Therapeutics, Inc.\* | 19334 | 280730 |
|  Design Therapeutics, Inc.(x)\* | 3777 | 28441 |
|  Dianthus Therapeutics, Inc.\* | 2331 | 91725 |
|  Dyne Therapeutics, Inc.\* | 11507 | 145564 |
|  Editas Medicine, Inc.\* | 13120 | 45526 |
|  Eledon Pharmaceuticals, Inc.(x)\* | 8452 | 21891 |
|  Emergent BioSolutions, Inc.\* | 8627 | 76090 |
|  Enanta Pharmaceuticals, Inc.\* | 3132 | 37490 |
|  Entrada Therapeutics, Inc.\* | 4555 | 26419 |
|  Erasca, Inc.(x)\* | 29049 | 63327 |
|  Fate Therapeutics, Inc.\* | 17774 | 22395 |
|  Fennec Pharmaceuticals, Inc.\* | 2612 | 24448 |
|  Foghorn Therapeutics, Inc.\* | 1449 | 7086 |
|  GRAIL, Inc.\* | 4947 | 292516 |
|  Heron Therapeutics, Inc.(x)\* | 21678 | 27314 |
|  Humacyte, Inc.(x)\* | 15208 | 26462 |
|  Ideaya Biosciences, Inc.\* | 12461 | 339064 |
|  ImmunityBio, Inc.(x)\* | 6800 | 16728 |
|  Inhibikase Therapeutics, Inc.\* | 8942 | 14486 |
|  Inhibrx Biosciences, Inc.\* | 1425 | 47994 |
|  Intellia Therapeutics, Inc.\* | 15435 | 266562 |
|  Iovance Biotherapeutics, Inc.(x)\* | 40893 | 88738 |
|  Ironwood Pharmaceuticals, Inc., Class A\* | 4808 | 6298 |
|  Jade Biosciences, Inc.(x) | 5287 | 45627 |
|  Janux Therapeutics, Inc.\* | 4274 | 104457 |
|  Keros Therapeutics, Inc.\* | 5408 | 85555 |
|  Kodiak Sciences, Inc.\* | 4895 | 80131 |
|  Korro Bio, Inc.\* | 1129 | 54068 |
|  Kura Oncology, Inc.\* | 12584 | 111368 |
|  Larimar Therapeutics, Inc.\* | 6605 | 21334 |
|  Lexeo Therapeutics, Inc.\* | 3684 | 24462 |
|  MeiraGTx Holdings plc(x)\* | 1774 | 14600 |
|  Metsera, Inc.(x)\* | 3640 | 190481 |
|  Monte Rosa Therapeutics, Inc.(x)\* | 7558 | 56005 |
|  Myriad Genetics, Inc.\* | 14599 | 105551 |
|  Neurogene, Inc.(x)\* | 1552 | 26896 |
|  Nkarta, Inc.\* | 7802 | 16150 |
|  Novavax, Inc.(x)\* | 4420 | 38321 |
|  Nurix Therapeutics, Inc.\* | 11487 | 106140 |
|  Olema Pharmaceuticals, Inc.(x)\* | 9469 | 92702 |
|  ORIC Pharmaceuticals, Inc.(x)\* | 6350 | 76200 |
|  Oruka Therapeutics, Inc.(x)\* | 4410 | 84804 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Palvella Therapeutics, Inc.(x)\* | 86 | $5391 |
|  Perspective Therapeutics, Inc.(x)\* | 9361 | 32108 |
|  Praxis Precision Medicines, Inc.\* | 2620 | 138860 |
|  Precigen, Inc.\* | 1216 | 4001 |
|  Prime Medicine, Inc.(x)\* | 11260 | 62380 |
|  Protara Therapeutics, Inc.(x)\* | 4884 | 21245 |
|  Prothena Corp. plc\* | 5651 | 55154 |
|  PTC Therapeutics, Inc.\* | 2342 | 143729 |
|  Puma Biotechnology, Inc.\* | 6702 | 35588 |
|  REGENXBIO, Inc.\* | 7624 | 73572 |
|  Relay Therapeutics, Inc.\* | 21589 | 112695 |
|  Replimune Group, Inc.(x)\* | 10662 | 44674 |
|  Rezolute, Inc.\* | 1388 | 13047 |
|  Rocket Pharmaceuticals, Inc.\* | 11330 | 36936 |
|  Sana Biotechnology, Inc.(x)\* | 18860 | 66953 |
|  Scholar Rock Holding Corp.\* | 1073 | 39959 |
|  Solid Biosciences, Inc.\* | 8993 | 55487 |
|  Spyre Therapeutics, Inc.\* | 2717 | 45537 |
|  Syndax Pharmaceuticals, Inc.\* | 910 | 14000 |
|  Tango Therapeutics, Inc.(x)\* | 11067 | 92963 |
|  Tectonic Therapeutic, Inc.(x)\* | 1430 | 22437 |
|  Tevogen Bio Holdings, Inc.(x)\* | 2420 | 1900 |
|  Tonix Pharmaceuticals Holding Corp.\* | 1214 | 29330 |
|  Tourmaline Bio, Inc.\* | 2733 | 130719 |
|  Travere Therapeutics, Inc.\* | 982 | 23470 |
|  TriSalus Life Sciences, Inc.\* | 1769 | 8226 |
|  Tyra Biosciences, Inc.(x)\* | 3788 | 52994 |
|  Upstream Bio, Inc.(x)\* | 5085 | 95649 |
|  UroGen Pharma Ltd.(x)\* | 1133 | 22603 |
|  Vanda Pharmaceuticals, Inc.\* | 8709 | 43458 |
|  Vaxcyte, Inc.\* | 17912 | 645190 |
|  Verastem, Inc.\* | 3215 | 28388 |
|  Vir Biotechnology, Inc.(x)\* | 14650 | 83651 |
|  Viridian Therapeutics, Inc.\* | 2396 | 51706 |
|  Voyager Therapeutics, Inc.\* | 7663 | 35786 |
|  Xencor, Inc.\* | 11275 | 132256 |
|  XOMA Royalty Corp.\* | 466 | 17960 |
|  Zenas Biopharma, Inc.(x)\* | 2509 | 55700 |
|  |  | 9700884 |
|  ***Health Care Equipment & Supplies (0.7%)*** |  |  |
|  AngioDynamics, Inc.\* | 4948 | 55269 |
|  Artivion, Inc.\* | 1170 | 49538 |
|  Avanos Medical, Inc.\* | 6275 | 72539 |
|  Beta Bionics, Inc.(x)\* | 676 | 13432 |
|  Carlsmed, Inc.(x)\* | 413 | 5530 |
|  CONMED Corp. | 4843 | 227766 |
|  Embecta Corp. | 8344 | 117734 |
|  Enovis Corp.\* | 8972 | 272210 |
|  ICU Medical, Inc.(x)\* | 937 | 112403 |
|  Inogen, Inc.\* | 3903 | 31888 |
|  Integra LifeSciences Holdings Corp.\* | 10460 | 149892 |
|  Kestra Medical Technologies Ltd.(x)\* | 334 | 7936 |
|  LivaNova plc\* | 8539 | 447273 |
|  Lucid Diagnostics, Inc.(x)\* | 5053 | 5104 |
|  Merit Medical Systems, Inc.\* | 640 | 53267 |
|  Neogen Corp.(x)\* | 33996 | 194117 |
|  Omnicell, Inc.\* | 7273 | 221463 |
|  OraSure Technologies, Inc.\* | 12421 | 39871 |
|  Orthofix Medical, Inc.\* | 6103 | 89348 |
|  OrthoPediatrics Corp.\* | 2134 | 39543 |
|  Outset Medical, Inc.(x)\* | 1706 | 24089 |
|  QuidelOrtho Corp.\* | 5981 | 176140 |
|  Semler Scientific, Inc.(x)\* | 1536 | 46080 |
|  STAAR Surgical Co.\* | 1140 | 30632 |
|  Tactile Systems Technology, Inc.\* | 3841 | 53159 |
|  Utah Medical Products, Inc. | 385 | 24243 |
|  Varex Imaging Corp.\* | 6615 | 82026 |
|  Zimvie, Inc.\* | 4502 | 85268 |
|  |  | 2727760 |
|  ***Health Care Providers & Services (0.7%)*** |  |  |
|  AdaptHealth Corp., Class A\* | 15725 | 140739 |
|  Addus HomeCare Corp.\* | 1442 | 170142 |
|  AirSculpt Technologies, Inc.(x)\* | 1145 | 9183 |
|  AMN Healthcare Services, Inc.\* | 5890 | 114030 |
|  Ardent Health, Inc.\* | 3435 | 45514 |
|  Aveanna Healthcare Holdings, Inc.\* | 1661 | 14733 |
|  Brookdale Senior Living, Inc.\* | 4201 | 35582 |
|  Castle Biosciences, Inc.\* | 4555 | 103717 |
|  Community Health Systems, Inc.\* | 8685 | 27879 |
|  Concentra Group Holdings Parent, Inc. | 1193 | 24970 |
|  Cross Country Healthcare, Inc.\* | 4810 | 68302 |
|  DocGo, Inc.\* | 14730 | 20033 |
|  Enhabit, Inc.\* | 7880 | 63119 |
|  Fulgent Genetics, Inc.\* | 3371 | 76185 |
|  Innovage Holding Corp.\* | 1749 | 9025 |
|  LifeStance Health Group, Inc.\* | 9694 | 53317 |
|  Nano-X Imaging Ltd.(x)\* | 7749 | 28671 |
|  National HealthCare Corp. | 1977 | 240225 |
|  NeoGenomics, Inc.\* | 18211 | 140589 |
|  Omada Health, Inc.(x)\* | 485 | 10723 |
|  OPKO Health, Inc.(x)\* | 62261 | 96505 |
|  Owens & Minor, Inc.\* | 12110 | 58128 |
|  PACS Group, Inc.\* | 483 | 6632 |
|  Pediatrix Medical Group, Inc.\* | 13363 | 223830 |
|  Performant Healthcare, Inc.(x)\* | 2507 | 19379 |
|  Premier, Inc., Class A | 12908 | 358842 |
|  RadNet, Inc.\* | 2016 | 153639 |
|  SBC Medical Group Holdings, Inc.(x)\* | 1379 | 5985 |
|  Select Medical Holdings Corp. | 17442 | 223955 |
|  Sonida Senior Living, Inc.\* | 314 | 8704 |
|  Surgery Partners, Inc.\* | 12009 | 259875 |
|  US Physical Therapy, Inc. | 895 | 76030 |
|  |  | 2888182 |
|  ***Health Care Technology (0.1%)*** |  |  |
|  Definitive Healthcare Corp., Class A\* | 6049 | 24559 |
|  Evolent Health, Inc., Class A\* | 12137 | 102679 |
|  Health Catalyst, Inc.\* | 10673 | 30418 |
|  HealthStream, Inc. | 2299 | 64924 |
|  LifeMD, Inc.(x)\* | 2005 | 13614 |
|  Teladoc Health, Inc.(x)\* | 22143 | 171165 |
|  Waystar Holding Corp.\* | 2633 | 99843 |
|  |  | 507202 |
|  ***Life Sciences Tools & Services (0.2%)*** |  |  |
|  10X Genomics, Inc., Class A\* | 12670 | 148112 |
|  Azenta, Inc.\* | 6267 | 179988 |
|  Codexis, Inc.\* | 3238 | 7901 |
|  CryoPort, Inc.\* | 6206 | 58833 |
|  Cytek Biosciences, Inc.\* | 18930 | 65687 |
|  Fortrea Holdings, Inc.\* | 14040 | 118217 |
|  Ginkgo Bioworks Holdings, Inc., Class A\* | 5826 | 84943 |
|  Lifecore Biomedical, Inc.(x)\* | 1428 | 10510 |
|  Maravai LifeSciences Holdings, Inc., Class A\* | 16826 | 48291 |
|  MaxCyte, Inc.\* | 17325 | 27373 |
|  OmniAb, Inc.\* | 13791 | 22066 |
|  Pacific Biosciences of California, Inc.(x)\* | 44167 | 56534 |
|  Personalis, Inc.\* | 7986 | 52069 |
|  Quanterix Corp.\* | 5844 | 31733 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Quantum-Si, Inc.(x)\* | 22900 | $32289 |
|  Standard BioTools, Inc.\* | 48531 | 63090 |
|  |  | 1007636 |
|  ***Pharmaceuticals (0.7%)*** |  |  |
|  Aardvark Therapeutics, Inc.\* | 374 | 4970 |
|  Aclaris Therapeutics, Inc.\* | 13682 | 25996 |
|  Alumis, Inc.(x)\* | 7795 | 31102 |
|  Amneal Pharmaceuticals, Inc.\* | 3250 | 32532 |
|  Amphastar Pharmaceuticals, Inc.\* | 5303 | 141325 |
|  Amylyx Pharmaceuticals, Inc.\* | 2439 | 33146 |
|  Aquestive Therapeutics, Inc.(x)\* | 9120 | 50981 |
|  Arvinas, Inc.\* | 9458 | 80582 |
|  Atea Pharmaceuticals, Inc.\* | 11265 | 32668 |
|  BioAge Labs, Inc.(x)\* | 3682 | 21650 |
|  Biote Corp., Class A(x)\* | 2864 | 8592 |
|  Esperion Therapeutics, Inc.(x)\* | 20136 | 53360 |
|  EyePoint Pharmaceuticals, Inc.\* | 9163 | 130481 |
|  Fulcrum Therapeutics, Inc.\* | 6152 | 56598 |
|  Indivior plc\* | 2875 | 69316 |
|  Innoviva, Inc.\* | 991 | 18086 |
|  Ligand Pharmaceuticals, Inc.\* | 2643 | 468181 |
|  Maze Therapeutics, Inc.(x)\* | 2758 | 71515 |
|  MBX Biosciences, Inc.\* | 2657 | 46498 |
|  Mind Medicine MindMed, Inc.(x)\* | 8231 | 97043 |
|  Nuvation Bio, Inc.(x)\* | 36679 | 135712 |
|  Omeros Corp.(x)\* | 1485 | 6089 |
|  Pacira BioSciences, Inc.\* | 6554 | 168897 |
|  Phathom Pharmaceuticals, Inc.(x)\* | 4920 | 57908 |
|  Prestige Consumer Healthcare, Inc.\* | 6312 | 393869 |
|  Rapport Therapeutics, Inc.\* | 2748 | 81616 |
|  Septerna, Inc.(x)\* | 3392 | 63804 |
|  SIGA Technologies, Inc. | 1057 | 9672 |
|  Supernus Pharmaceuticals, Inc.\* | 7718 | 368843 |
|  Terns Pharmaceuticals, Inc.\* | 11213 | 84210 |
|  Theravance Biopharma, Inc.\* | 1397 | 20396 |
|  Third Harmonic Bio, Inc.(r)\* | 4365 |  |
|  Tvardi Therapeutics, Inc.(x)\* | 645 | 25136 |
|  WaVe Life Sciences Ltd.\* | 2202 | 16119 |
|  |  | 2906893 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 19738557 |
|  **Industrials (15.5%)** |  |  |
|  ***Aerospace & Defense (0.4%)*** |  |  |
|  AAR Corp.\* | 4202 | 376793 |
|  AerSale Corp.\* | 5042 | 41294 |
|  Astronics Corp.\* | 457 | 20844 |
|  Ducommun, Inc.\* | 2151 | 206776 |
|  Intuitive Machines, Inc.(x)\* | 16038 | 168720 |
|  Mercury Systems, Inc.\* | 6297 | 487388 |
|  National Presto Industries, Inc. | 793 | 88935 |
|  Park Aerospace Corp. | 1489 | 30286 |
|  Satellogic, Inc., Class A(x)\* | 2215 | 7265 |
|  V2X, Inc.\* | 2783 | 161664 |
|  Voyager Technologies, Inc., Class A(x)\* | 525 | 15635 |
|  VSE Corp. | 462 | 76803 |
|  |  | 1682403 |
|  ***Air Freight & Logistics (0.1%)*** |  |  |
|  Forward Air Corp.(x)\* | 2046 | 52459 |
|  Hub Group, Inc., Class A | 9413 | 324184 |
|  Radiant Logistics, Inc.\* | 4987 | 29423 |
|  |  | 406066 |
|  ***Building Products (0.7%)*** |  |  |
|  American Woodmark Corp.\* | 2256 | 150610 |
|  Apogee Enterprises, Inc. | 3251 | 141646 |
|  Gibraltar Industries, Inc.\* | 4671 | 293339 |
|  Insteel Industries, Inc. | 1382 | 52986 |
|  Janus International Group, Inc.\* | 13257 | 130847 |
|  JELD-WEN Holding, Inc.\* | 13575 | 66653 |
|  Masterbrand, Inc.\* | 19955 | 262807 |
|  Quanex Building Products Corp. | 7159 | 101801 |
|  Resideo Technologies, Inc.\* | 21695 | 936790 |
|  UFP Industries, Inc. | 8989 | 840382 |
|  |  | 2977861 |
|  ***Commercial Services & Supplies (3.1%)*** |  |  |
|  ABM Industries, Inc. | 9694 | 447087 |
|  ACCO Brands Corp. | 14278 | 56969 |
|  Acme United Corp.(x) | 508 | 20919 |
|  BrightView Holdings, Inc.\* | 11008 | 147507 |
|  Cimpress plc\* | 1901 | 119839 |
|  Civeo Corp.(x) | 176400 | 4057200 |
|  CoreCivic, Inc.\* | 14325 | 291514 |
|  Deluxe Corp. | 7132 | 138075 |
|  Ennis, Inc. | 3747 | 68495 |
|  Enviri Corp.\* | 11917 | 151227 |
|  Healthcare Services Group, Inc.\* | 6492 | 109260 |
|  HNI Corp. | 3060 | 143361 |
|  Interface, Inc., Class A | 8036 | 232562 |
|  MillerKnoll, Inc. | 10759 | 190865 |
|  Mobile Infrastructure Corp., Class A\* | 2196 | 7730 |
|  Montrose Environmental Group, Inc.\* | 5013 | 137657 |
|  NL Industries, Inc. | 1271 | 7817 |
|  OPENLANE, Inc.\* | 70723 | 2035408 |
|  Perma-Fix Environmental Services, Inc.(x)\* | 2322 | 23452 |
|  Pitney Bowes, Inc.(x) | 13316 | 151936 |
|  Quad/Graphics, Inc. | 1973 | 12351 |
|  RB Global, Inc. | 30600 | 3315816 |
|  Steelcase, Inc., Class A | 13160 | 226352 |
|  UniFirst Corp. | 2366 | 395572 |
|  Vestis Corp. | 18509 | 83846 |
|  Virco Mfg. Corp.(x) | 1770 | 13717 |
|  |  | 12586534 |
|  ***Construction & Engineering (0.7%)*** |  |  |
|  Ameresco, Inc., Class A\* | 4969 | 166859 |
|  Arcosa, Inc. | 5471 | 512687 |
|  Bowman Consulting Group Ltd., Class A\* | 57 | 2415 |
|  Concrete Pumping Holdings, Inc. | 3274 | 23082 |
|  Fluor Corp.\* | 25761 | 1083765 |
|  Granite Construction, Inc.(x) | 996 | 109211 |
|  Great Lakes Dredge & Dock Corp.\* | 10738 | 128749 |
|  Matrix Service Co.\* | 3471 | 45401 |
|  NWPX Infrastructure, Inc.\* | 1539 | 81459 |
|  Orion Group Holdings, Inc.\* | 5048 | 41999 |
|  Primoris Services Corp. | 586 | 80475 |
|  Southland Holdings, Inc.\* | 1774 | 7611 |
|  Tutor Perini Corp.\* | 6992 | 458605 |
|  |  | 2742318 |
|  ***Electrical Equipment (0.7%)*** |  |  |
|  Allient, Inc. | 2195 | 98226 |
|  Array Technologies, Inc.(x)\* | 18526 | 150987 |
|  Atkore, Inc. | 5277 | 331079 |
|  Complete Solaria, Inc.(x)\* | 7305 | 12857 |
|  EnerSys | 5703 | 644211 |
|  Fluence Energy, Inc., Class A(x)\* | 2300 | 24840 |
|  Hyliion Holdings Corp.\* | 18673 | 36786 |
|  LSI Industries, Inc. | 932 | 22004 |
|  NANO Nuclear Energy, Inc.(x)\* | 288 | 11105 |
|  Net Power, Inc.(x)\* | 5646 | 16994 |
|  NEXTracker, Inc., Class A\* | 4614 | 341390 |
|  Plug Power, Inc.(x)\* | 169933 | 395944 |
|  Power Solutions International, Inc.\* | 91 | 8938 |
|  Preformed Line Products Co. | 361 | 70810 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Shoals Technologies Group, Inc., |  |  |
|  Class A\* | 22606 | $167510 |
|  Sunrun, Inc.\* | 32885 | 568582 |
|  T1 Energy, Inc.(x)\* | 16510 | 35992 |
|  Thermon Group Holdings, Inc.\* | 4416 | 117996 |
|  |  | 3056251 |
|  ***Ground Transportation (0.3%)*** |  |  |
|  ArcBest Corp. | 3590 | 250833 |
|  Covenant Logistics Group, Inc., Class A | 2218 | 48042 |
|  Heartland Express, Inc. | 6804 | 57018 |
|  Marten Transport Ltd. | 8990 | 95833 |
|  PAMT Corp.\* | 966 | 11013 |
|  Proficient Auto Logistics, Inc.(x)\* | 3593 | 24756 |
|  RXO, Inc.\* | 23942 | 368228 |
|  Universal Logistics Holdings, Inc.(x) | 1121 | 26276 |
|  Werner Enterprises, Inc. | 7620 | 200558 |
|  |  | 1082557 |
|  ***Industrial Conglomerates (0.0%)†*** |  |  |
|  Brookfield Business Corp., Class A | 2392 | 80204 |
|  ***Machinery (3.0%)*** |  |  |
|  3D Systems Corp.(x)\* | 20952 | 60761 |
|  Aebi Schmidt Holding AG | 5314 | 66265 |
|  AirJoule Technologies Corp.\* | 3383 | 15866 |
|  Alamo Group, Inc. | 1121 | 213999 |
|  Albany International Corp., Class A | 3242 | 172799 |
|  Astec Industries, Inc. | 3661 | 176204 |
|  Atmus Filtration Technologies, Inc. | 1251 | 56408 |
|  Columbus McKinnon Corp. | 4369 | 62651 |
|  Douglas Dynamics, Inc. | 480 | 15005 |
|  Eastern Co. (The) | 888 | 20832 |
|  Enpro, Inc. | 2890 | 653140 |
|  Gencor Industries, Inc.\* | 1552 | 22706 |
|  Greenbrier Cos., Inc. (The) | 4737 | 218707 |
|  Helios Technologies, Inc. | 5176 | 269825 |
|  Hillenbrand, Inc. | 11025 | 298116 |
|  Hillman Solutions Corp.\* | 31032 | 284874 |
|  Hyster-Yale, Inc. | 1761 | 64910 |
|  JBT Marel Corp. | 4245 | 596210 |
|  Kennametal, Inc. | 11869 | 248418 |
|  L B Foster Co., Class A\* | 1618 | 43605 |
|  Luxfer Holdings plc | 4062 | 56462 |
|  Manitowoc Co., Inc. (The)\* | 5564 | 55696 |
|  Mayville Engineering Co., Inc.\* | 2080 | 28621 |
|  Microvast Holdings, Inc.(x)\* | 11454 | 44098 |
|  Miller Industries, Inc. | 1773 | 71665 |
|  Oshkosh Corp. | 54000 | 7003800 |
|  Palladyne AI Corp.(x)\* | 4075 | 35004 |
|  Park-Ohio Holdings Corp. | 1583 | 33623 |
|  Proto Labs, Inc.\* | 3693 | 184761 |
|  Standex International Corp. | 353 | 74801 |
|  Tennant Co. | 2902 | 235236 |
|  Terex Corp.(x) | 10150 | 520695 |
|  Titan International, Inc.\* | 7884 | 59603 |
|  Trinity Industries, Inc. | 6770 | 189831 |
|  Wabash National Corp. | 6261 | 61796 |
|  Worthington Enterprises, Inc. | 3351 | 185947 |
|  |  | 12402940 |
|  ***Marine Transportation (2.8%)*** |  |  |
|  Clarkson plc | 104600 | 5162829 |
|  Costamare Bulkers Holdings Ltd.\* | 1251 | 17977 |
|  Costamare, Inc. | 7182 | 85538 |
|  Genco Shipping & Trading Ltd. | 5335 | 94963 |
|  Himalaya Shipping Ltd.(x) | 4631 | 38113 |
|  Matson, Inc. | 5112 | 503992 |
|  Pangaea Logistics Solutions Ltd. | 4576 | 23246 |
|  Safe Bulkers, Inc. | 8414 | 37358 |
|  Stolt-Nielsen Ltd. | 168400 | 5796394 |
|  |  | 11760410 |
|  ***Passenger Airlines (0.3%)*** |  |  |
|  Allegiant Travel Co.\* | 1848 | 112303 |
|  Frontier Group Holdings, Inc.\* | 4485 | 19801 |
|  JetBlue Airways Corp.(x)\* | 51982 | 255751 |
|  SkyWest, Inc.\* | 6375 | 641453 |
|  Strata Critical Medical, Inc.\* | 10678 | 54031 |
|  Sun Country Airlines Holdings, Inc.\* | 3603 | 42551 |
|  |  | 1125890 |
|  ***Professional Services (2.6%)*** |  |  |
|  Acuren Corp.\* | 20359 | 270978 |
|  Alight, Inc., Class A | 67369 | 219623 |
|  Asure Software, Inc.\* | 4046 | 33177 |
|  Booz Allen Hamilton Holding Corp. | 6400 | 639680 |
|  CACI International, Inc., Class A\* | 12000 | 5985360 |
|  Conduent, Inc.\* | 23975 | 67130 |
|  CSG Systems International, Inc. | 519 | 33413 |
|  First Advantage Corp.(x)\* | 3988 | 61375 |
|  Forrester Research, Inc.\* | 1719 | 18221 |
|  Franklin Covey Co.\* | 256 | 4969 |
|  Heidrick & Struggles International, Inc. | 3191 | 158816 |
|  HireQuest, Inc. | 583 | 5608 |
|  ICF International, Inc. | 2877 | 266986 |
|  Kelly Services, Inc., Class A | 4995 | 65534 |
|  Kforce, Inc. | 404 | 12112 |
|  Korn Ferry | 4420 | 309312 |
|  Mistras Group, Inc.\* | 2501 | 24610 |
|  Resolute Holdings Management, Inc.\* | 395 | 28499 |
|  Resources Connection, Inc. | 5355 | 27043 |
|  Science Applications International Corp. | 24000 | 2384880 |
|  Skillsoft Corp.(x)\* | 631 | 8216 |
|  TrueBlue, Inc.\* | 4481 | 27469 |
|  TTEC Holdings, Inc.\* | 3415 | 11474 |
|  Willdan Group, Inc.\* | 724 | 70004 |
|  |  | 10734489 |
|  ***Trading Companies & Distributors (0.7%)*** |  |  |
|  Alta Equipment Group, Inc. | 2788 | 20185 |
|  BlueLinx Holdings, Inc.\* | 1204 | 87988 |
|  Boise Cascade Co. | 5926 | 458198 |
|  Custom Truck One Source, Inc.(x)\* | 9433 | 60560 |
|  Distribution Solutions Group, Inc.\* | 203 | 6106 |
|  DNOW, Inc.\* | 16353 | 249383 |
|  EVI Industries, Inc. | 750 | 23708 |
|  GATX Corp. | 5201 | 909135 |
|  Hudson Technologies, Inc.\* | 5839 | 57981 |
|  McGrath RentCorp | 929 | 108972 |
|  MRC Global, Inc.\* | 13239 | 190906 |
|  NPK International, Inc.\* | 12347 | 139645 |
|  Rush Enterprises, Inc., Class A | 4471 | 239065 |
|  Rush Enterprises, Inc., Class B | 684 | 39275 |
|  Titan Machinery, Inc.\* | 3168 | 53032 |
|  Transcat, Inc.\* | 719 | 52631 |
|  Willis Lease Finance Corp. | 407 | 55796 |
|  |  | 2752566 |
|  ***Transportation Infrastructure (0.1%)*** |  |  |
|  Braemar plc(x) | 127200 | 410571 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 63801060 |
|  **Information Technology (4.2%)** |  |  |
|  ***Communications Equipment (0.4%)*** |  |  |
|  Applied Optoelectronics, Inc.(x)\* | 1809 | 46907 |
|  Aviat Networks, Inc.\* | 1958 | 44897 |
|  Clearfield, Inc.(x)\* | 1105 | 37990 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  CommScope Holding Co., Inc.\* | 12885 | $199460 |
|  Digi International, Inc.\* | 5726 | 208770 |
|  Harmonic, Inc.\* | 13005 | 132391 |
|  Inseego Corp.(x)\* | 1536 | 22994 |
|  NETGEAR, Inc.\* | 4362 | 141285 |
|  NetScout Systems, Inc.\* | 11003 | 284207 |
|  Ribbon Communications, Inc.\* | 15289 | 58098 |
|  Viasat, Inc.\* | 18425 | 539853 |
|  |  | 1716852 |
|  ***Electronic Equipment, Instruments & Components (1.2%)*** |  |  |
|  908 Devices, Inc.(x)\* | 1190 | 10424 |
|  Bel Fuse, Inc., Class A | 262 | 30484 |
|  Bel Fuse, Inc., Class B | 1631 | 230003 |
|  Benchmark Electronics, Inc. | 5603 | 215996 |
|  CTS Corp. | 3849 | 153729 |
|  Daktronics, Inc.\* | 5033 | 105290 |
|  ePlus, Inc. | 4165 | 295757 |
|  Insight Enterprises, Inc.\* | 2992 | 339323 |
|  Itron, Inc.\* | 3677 | 458007 |
|  Kimball Electronics, Inc.\* | 3764 | 112393 |
|  Knowles Corp.\* | 12390 | 288811 |
|  Methode Electronics, Inc. | 5658 | 42718 |
|  MicroVision, Inc.(x)\* | 14267 | 17691 |
|  Neonode, Inc.\* | 272 | 949 |
|  nLight, Inc.\* | 7058 | 209129 |
|  PAR Technology Corp.(x)\* | 2559 | 101285 |
|  PC Connection, Inc. | 1760 | 109102 |
|  Plexus Corp.\* | 294 | 42539 |
|  Powerfleet, Inc.(x)\* | 19914 | 104349 |
|  Richardson Electronics Ltd.(x) | 1820 | 17818 |
|  Rogers Corp.\* | 2903 | 233575 |
|  Sanmina Corp.\* | 4555 | 524326 |
|  ScanSource, Inc.\* | 3353 | 147499 |
|  TTM Technologies, Inc.\* | 15843 | 912557 |
|  Vishay Intertechnology, Inc. | 19021 | 291021 |
|  Vishay Precision Group, Inc.\* | 1961 | 62850 |
|  Vuzix Corp.(x)\* | 744 | 2329 |
|  |  | 5059954 |
|  ***IT Services (0.3%)*** |  |  |
|  Applied Digital Corp.\* | 8092 | 185630 |
|  ASGN, Inc.\* | 6732 | 318760 |
|  BigBear.ai Holdings, Inc.(x)\* | 34742 | 226518 |
|  CSP, Inc.(x) | 161 | 1860 |
|  Fastly, Inc., Class A\* | 21482 | 183671 |
|  Grid Dynamics Holdings, Inc.\* | 2131 | 16430 |
|  Hackett Group, Inc. (The) | 264 | 5019 |
|  Information Services Group, Inc. | 4166 | 23955 |
|  Rackspace Technology, Inc.\* | 9900 | 13959 |
|  Tucows, Inc., Class A\* | 908 | 16848 |
|  Unisys Corp.\* | 2687 | 10479 |
|  |  | 1003129 |
|  ***Semiconductors & Semiconductor Equipment (0.8%)*** |  |  |
|  ACM Research, Inc., Class A\* | 7938 | 310614 |
|  Aehr Test Systems(x)\* | 880 | 26497 |
|  Aeluma, Inc.(x)\* | 1392 | 22411 |
|  Alpha & Omega Semiconductor Ltd.\* | 4004 | 111952 |
|  Ambiq Micro, Inc.\* | 217 | 6493 |
|  Axcelis Technologies, Inc.\* | 4685 | 457443 |
|  Blaize Holdings, Inc.(x)\* | 3527 | 12168 |
|  CEVA, Inc.\* | 357 | 9428 |
|  Cohu, Inc.\* | 7081 | 143957 |
|  Diodes, Inc.\* | 7196 | 382899 |
|  FormFactor, Inc.\* | 2978 | 108459 |
|  Ichor Holdings Ltd.\* | 5477 | 95957 |
|  indie Semiconductor, Inc., Class A(x)\* | 19245 | 78327 |
|  Kulicke & Soffa Industries, Inc. | 3351 | 136185 |
|  MaxLinear, Inc., Class A\* | 11118 | 178777 |
|  Navitas Semiconductor Corp., Class A(x)\* | 18033 | 130198 |
|  Penguin Solutions, Inc.(x)\* | 8220 | 216022 |
|  Photronics, Inc.\* | 9225 | 211714 |
|  Synaptics, Inc.\* | 5491 | 375255 |
|  Ultra Clean Holdings, Inc.\* | 6509 | 177370 |
|  Veeco Instruments, Inc.\* | 8962 | 272714 |
|  |  | 3464840 |
|  ***Software (1.4%)*** |  |  |
|  8x8, Inc.\* | 20303 | 43042 |
|  A10 Networks, Inc. | 1758 | 31908 |
|  Adeia, Inc. | 2251 | 37817 |
|  Airship AI Holdings, Inc.(x)\* | 1094 | 5656 |
|  Arteris, Inc.\* | 3985 | 40248 |
|  Bit Digital, Inc.\* | 49452 | 148356 |
|  Blackbaud, Inc.\* | 1209 | 77751 |
|  Box, Inc., Class A\* | 4893 | 157897 |
|  Cerence, Inc.(x)\* | 4346 | 54151 |
|  Cipher Mining, Inc.(x)\* | 41649 | 524361 |
|  Cleanspark, Inc.(x)\* | 43558 | 631591 |
|  Consensus Cloud Solutions, Inc.\* | 2972 | 87288 |
|  Core Scientific, Inc.(x)\* | 7494 | 134442 |
|  CS Disco, Inc.\* | 1847 | 11932 |
|  Daily Journal Corp.(x)\* | 46 | 21396 |
|  Digital Turbine, Inc.\* | 5960 | 38144 |
|  Domo, Inc., Class B(x)\* | 719 | 11389 |
|  eGain Corp.\* | 918 | 7996 |
|  Expensify, Inc., Class A\* | 4229 | 7824 |
|  Hut 8 Corp.\* | 14813 | 515641 |
|  I3 Verticals, Inc., Class A(x)\* | 3326 | 107962 |
|  MARA Holdings, Inc.(x)\* | 58312 | 1064777 |
|  Mercurity Fintech Holding, Inc.(x)\* | 4469 | 109848 |
|  Mitek Systems, Inc.(x)\* | 5607 | 54780 |
|  N-able, Inc.\* | 11469 | 89458 |
|  NCR Voyix Corp.\* | 22036 | 276552 |
|  ON24, Inc.\* | 5704 | 32627 |
|  OneSpan, Inc. | 5129 | 81500 |
|  Porch Group, Inc.\* | 2519 | 42269 |
|  Rimini Street, Inc.\* | 6759 | 31632 |
|  Riot Platforms, Inc.\* | 54731 | 1041531 |
|  Silvaco Group, Inc.(x)\* | 1618 | 8753 |
|  Telos Corp.\* | 8218 | 56211 |
|  Terawulf, Inc.(x)\* | 2511 | 28676 |
|  Verint Systems, Inc.\* | 9436 | 191079 |
|  Xperi, Inc.\* | 7540 | 48859 |
|  |  | 5855344 |
|  ***Technology Hardware, Storage & Peripherals (0.1%)*** |  |  |
|  CompoSecure, Inc., Class A(x)\* | 909 | 18925 |
|  Corsair Gaming, Inc.\* | 7581 | 67623 |
|  Diebold Nixdorf, Inc.\* | 247 | 14086 |
|  Eastman Kodak Co.(x)\* | 10578 | 67805 |
|  Immersion Corp. | 4764 | 34968 |
|  Turtle Beach Corp.(x)\* | 681 | 10828 |
|  Xerox Holdings Corp. | 19342 | 72726 |
|  |  | 286961 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 17387080 |
|  **Materials (5.5%)** |  |  |
|  ***Chemicals (0.8%)*** |  |  |
|  AdvanSix, Inc. | 4017 | 77849 |
|  American Vanguard Corp.\* | 3896 | 22363 |
|  Arq, Inc.(x)\* | 5337 | 38213 |
|  Aspen Aerogels, Inc.\* | 10622 | 73929 |
|  Avient Corp. | 14377 | 473722 |
|  Cabot Corp. | 592 | 45022 |
|  Core Molding Technologies, Inc.\* | 1347 | 27681 |
|  Ecovyst, Inc.(x)\* | 18316 | 160448 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Flotek Industries, Inc.(x)\* | 1660 | $24236 |
|  HB Fuller Co. | 8553 | 507022 |
|  Innospec, Inc. | 3703 | 285723 |
|  Intrepid Potash, Inc.\* | 1718 | 52536 |
|  Koppers Holdings, Inc. | 2981 | 83468 |
|  Kronos Worldwide, Inc. | 3453 | 19820 |
|  LSB Industries, Inc.\* | 8748 | 68934 |
|  Mativ Holdings, Inc. | 8642 | 97741 |
|  Minerals Technologies, Inc. | 4934 | 306500 |
|  Orion SA | 9054 | 68629 |
|  Perimeter Solutions, Inc.\* | 21867 | 489602 |
|  Quaker Chemical Corp. | 2182 | 287479 |
|  Rayonier Advanced Materials, Inc.\* | 10362 | 74814 |
|  Stepan Co. | 3263 | 155645 |
|  Trinseo plc(x) | 5096 | 11976 |
|  Tronox Holdings plc | 19151 | 76987 |
|  Valhi, Inc. | 375 | 5918 |
|  |  | 3536257 |
|  ***Containers & Packaging (0.2%)*** |  |  |
|  Ardagh Metal Packaging SA | 16969 | 67706 |
|  Greif, Inc., Class A | 4005 | 239339 |
|  Greif, Inc., Class B | 701 | 43188 |
|  Myers Industries, Inc. | 5068 | 85852 |
|  O-I Glass, Inc.\* | 18176 | 235743 |
|  Ranpak Holdings Corp., Class A(x)\* | 7588 | 42645 |
|  TriMas Corp. | 5217 | 201585 |
|  |  | 916058 |
|  ***Metals & Mining (4.4%)*** |  |  |
|  Alpha Metallurgical Resources, Inc.\* | 1288 | 211348 |
|  American Battery Technology Co.\* | 5176 | 25155 |
|  Ascent Industries Co.\* | 1090 | 14039 |
|  Caledonia Mining Corp. plc | 2651 | 95993 |
|  Coeur Mining, Inc.\* | 50304 | 943703 |
|  Commercial Metals Co. | 17772 | 1017980 |
|  Compass Minerals International, Inc.(x)\* | 1360 | 26112 |
|  Constellium SE\* | 14129 | 210240 |
|  Critical Metals Corp.(x)\* | 2775 | 17260 |
|  Ferroglobe plc(x) | 19496 | 88707 |
|  Friedman Industries, Inc.(x) | 990 | 21676 |
|  Hecla Mining Co. | 71920 | 870232 |
|  Ivanhoe Electric, Inc.\* | 1889 | 23707 |
|  Kaiser Aluminum Corp. | 1169 | 90200 |
|  MAC Copper Ltd.\* | 9565 | 116789 |
|  Materion Corp. | 2617 | 316160 |
|  Mesabi Trust | 170184 | 4981286 |
|  Metallus, Inc.\* | 5565 | 91989 |
|  Novagold Resources, Inc.\* | 2992 | 26330 |
|  Olympic Steel, Inc. | 1639 | 49908 |
|  Ryerson Holding Corp. | 4405 | 100698 |
|  Sandstorm Gold Ltd. | 549600 | 6880992 |
|  SSR Mining, Inc.(x)\* | 32012 | 781733 |
|  SunCoke Energy, Inc. | 13619 | 111131 |
|  Tredegar Corp.\* | 4338 | 34834 |
|  Warrior Met Coal, Inc. | 8182 | 520702 |
|  Wheaton Precious Metals Corp.\* | 2000 | 223680 |
|  Worthington Steel, Inc. | 5129 | 155870 |
|  |  | 18048454 |
|  ***Paper & Forest Products (0.1%)*** |  |  |
|  Clearwater Paper Corp.\* | 2592 | 53810 |
|  Magnera Corp.\* | 5311 | 62245 |
|  Sylvamo Corp. | 3927 | 173652 |
|  |  | 289707 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 22790476 |
|  **Real Estate (10.1%)** |  |  |
|  ***Diversified REITs (0.6%)*** |  |  |
|  Alexander & Baldwin, Inc. (REIT) | 11408 | 207511 |
|  Alpine Income Property Trust, Inc. (REIT) | 2212 | 31344 |
|  American Assets Trust, Inc. (REIT) | 8155 | 165710 |
|  Armada Hoffler Properties, Inc. (REIT) | 13057 | 91530 |
|  Broadstone Net Lease, Inc. (REIT) | 30160 | 538959 |
|  CTO Realty Growth, Inc. (REIT) | 4795 | 78158 |
|  Essential Properties Realty Trust, Inc. (REIT) | 31311 | 931815 |
|  Gladstone Commercial Corp. (REIT) | 6110 | 75275 |
|  Global Net Lease, Inc. (REIT)(x) | 31421 | 255453 |
|  Modiv Industrial, Inc. (REIT), Class C(x) | 1500 | 21960 |
|  NexPoint Diversified Real Estate Trust (REIT) | 5398 | 19919 |
|  One Liberty Properties, Inc. (REIT) | 2941 | 65055 |
|  |  | 2482689 |
|  ***Health Care REITs (0.9%)*** |  |  |
|  American Healthcare REIT, Inc. (REIT) | 16300 | 684763 |
|  CareTrust REIT, Inc. (REIT) | 30223 | 1048134 |
|  Community Healthcare Trust, Inc. (REIT) | 4363 | 66754 |
|  Diversified Healthcare Trust (REIT) | 35701 | 157441 |
|  Global Medical REIT, Inc. (REIT)(x) | 2092 | 70521 |
|  LTC Properties, Inc. (REIT) | 7166 | 264139 |
|  National Health Investors, Inc. (REIT) | 5646 | 448857 |
|  Sabra Health Care REIT, Inc. (REIT) | 37572 | 700342 |
|  Sila Realty Trust, Inc. (REIT) | 8744 | 219474 |
|  Universal Health Realty Income Trust (REIT) | 326 | 12770 |
|  |  | 3673195 |
|  ***Hotel & Resort REITs (0.4%)*** |  |  |
|  Apple Hospitality REIT, Inc. (REIT) | 35617 | 427760 |
|  Braemar Hotels & Resorts, Inc. (REIT)(x) | 9731 | 26566 |
|  Chatham Lodging Trust (REIT) | 7970 | 53479 |
|  DiamondRock Hospitality Co. (REIT) | 14508 | 115484 |
|  Pebblebrook Hotel Trust (REIT)(x) | 18813 | 214280 |
|  RLJ Lodging Trust (REIT)(x) | 23771 | 171151 |
|  Service Properties Trust (REIT) | 25102 | 68026 |
|  Summit Hotel Properties, Inc. (REIT) | 17923 | 98397 |
|  Sunstone Hotel Investors, Inc. (REIT) | 28009 | 262444 |
|  Xenia Hotels & Resorts, Inc. (REIT) | 13447 | 184493 |
|  |  | 1622080 |
|  ***Industrial REITs (0.4%)*** |  |  |
|  Industrial Logistics Properties Trust (REIT) | 8822 | 51432 |
|  Innovative Industrial Properties, Inc. (REIT) | 4354 | 233287 |
|  LXP Industrial Trust (REIT) | 46139 | 413406 |
|  Plymouth Industrial REIT, Inc. (REIT) | 6463 | 144319 |
|  Terreno Realty Corp. (REIT) | 16076 | 912313 |
|  |  | 1754757 |
|  ***Office REITs (0.7%)*** |  |  |
|  Brandywine Realty Trust (REIT) | 27836 | 116076 |
|  City Office REIT, Inc. (REIT) | 6341 | 44133 |
|  COPT Defense Properties (REIT) | 18028 | 523894 |
|  Douglas Emmett, Inc. (REIT) | 23761 | 369959 |
|  Easterly Government Properties, Inc. (REIT), Class A | 6522 | 149549 |
|  Empire State Realty Trust, Inc. (REIT), Class A | 21920 | 167907 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Franklin Street Properties Corp. (REIT) | 13546 | $21674 |
|  Hudson Pacific Properties, Inc. (REIT)\* | 57602 | 158981 |
|  JBG SMITH Properties (REIT) | 9836 | 218851 |
|  NET Lease Office Properties (REIT) | 2468 | 73201 |
|  Paramount Group, Inc. (REIT)\* | 29466 | 192708 |
|  Peakstone Realty Trust (REIT) | 5639 | 73984 |
|  Piedmont Realty Trust, Inc. (REIT) | 20099 | 180891 |
|  Postal Realty Trust, Inc. (REIT), Class A | 3428 | 53785 |
|  SL Green Realty Corp. (REIT) | 11285 | 674956 |
|  |  | 3020549 |
|  ***Real Estate Management & Development (5.2%)*** |  |  |
|  American Realty Investors, Inc.(x)\* | 237 | 3965 |
|  Anywhere Real Estate, Inc.\* | 16680 | 176641 |
|  Cushman & Wakefield plc\* | 23222 | 369694 |
|  Douglas Elliman, Inc.\* | 12369 | 35375 |
|  DREAM Unlimited Corp., Class A | 195600 | 2892435 |
|  Forestar Group, Inc.\* | 3124 | 83067 |
|  FRP Holdings, Inc.\* | 1935 | 47137 |
|  Howard Hughes Holdings, Inc.\* | 25200 | 2070684 |
|  Kennedy-Wilson Holdings, Inc. | 19899 | 165560 |
|  Landbridge Co. LLC, Class A | 257974 | 13762913 |
|  Logistic Properties of The Americas(x)\* | 420 | 1957 |
|  Marcus & Millichap, Inc. | 4053 | 118956 |
|  Newmark Group, Inc., Class A | 24450 | 455992 |
|  RE/MAX Holdings, Inc., Class A\* | 3332 | 31421 |
|  RMR Group, Inc. (The), Class A | 3079 | 48433 |
|  Seaport Entertainment Group, Inc.(x)\* | 5060 | 115975 |
|  Stratus Properties, Inc.\* | 1120 | 23699 |
|  Tejon Ranch Co.\* | 69867 | 1116475 |
|  Transcontinental Realty Investors, Inc.\* | 327 | 15085 |
|  |  | 21535464 |
|  ***Residential REITs (0.5%)*** |  |  |
|  Apartment Investment and Management Co. (REIT), Class A | 8687 | 68888 |
|  BRT Apartments Corp. (REIT) | 1862 | 29159 |
|  Centerspace (REIT) | 2699 | 158971 |
|  Clipper Realty, Inc. (REIT) | 2260 | 8588 |
|  Elme Communities (REIT) | 13793 | 232550 |
|  Equity LifeStyle Properties, Inc. (REIT) | 9100 | 552370 |
|  Independence Realty Trust, Inc. (REIT) | 37057 | 607364 |
|  NexPoint Residential Trust, Inc. (REIT) | 2357 | 75942 |
|  Veris Residential, Inc. (REIT) | 12488 | 189818 |
|  |  | 1923650 |
|  ***Retail REITs (1.1%)*** |  |  |
|  Acadia Realty Trust (REIT) | 20760 | 418314 |
|  CBL & Associates Properties, Inc. (REIT) | 693 | 21192 |
|  Curbline Properties Corp. (REIT) | 15363 | 342595 |
|  FrontView REIT, Inc. (REIT) | 2754 | 37757 |
|  Getty Realty Corp. (REIT) | 8366 | 224460 |
|  InvenTrust Properties Corp. (REIT) | 12407 | 355088 |
|  Kite Realty Group Trust (REIT) | 34811 | 776285 |
|  Macerich Co. (The) (REIT) | 40010 | 728182 |
|  NETSTREIT Corp. (REIT)(x) | 10968 | 198082 |
|  Phillips Edison & Co., Inc. (REIT) | 16408 | 563287 |
|  Saul Centers, Inc. (REIT) | 164 | 5227 |
|  SITE Centers Corp. (REIT) | 8175 | 73657 |
|  Tanger, Inc. (REIT) | 1925 | 65142 |
|  Urban Edge Properties (REIT) | 20299 | 415520 |
|  Whitestone REIT (REIT) | 7493 | 92014 |
|  |  | 4316802 |
|  ***Specialized REITs (0.3%)*** |  |  |
|  Farmland Partners, Inc. (REIT)(x) | 6452 | 70198 |
|  Four Corners Property Trust, Inc. (REIT) | 15640 | 381616 |
|  Gladstone Land Corp. (REIT)(x) | 5419 | 49638 |
|  PotlatchDeltic Corp. (REIT) | 11683 | 476082 |
|  Safehold, Inc. (REIT) | 8719 | 135058 |
|  Smartstop Self Storage REIT, Inc. (REIT)(x) | 4855 | 182742 |
|  |  | 1295334 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 41624520 |
|  **Utilities (6.1%)** |  |  |
|  ***Electric Utilities (2.8%)*** |  |  |
|  ALLETE, Inc. | 9148 | 607427 |
|  Genie Energy Ltd., Class B | 3131 | 46808 |
|  Hawaiian Electric Industries, Inc.\* | 641763 | 7085064 |
|  MGE Energy, Inc. | 2775 | 233600 |
|  Oklo, Inc., Class A(x)\* | 13069 | 1458892 |
|  Otter Tail Corp. | 5678 | 465426 |
|  Portland General Electric Co. | 17396 | 765424 |
|  TXNM Energy, Inc. | 15304 | 865441 |
|  |  | 11528082 |
|  ***Gas Utilities (1.1%)*** |  |  |
|  Brookfield Infrastructure Corp., Class A(x) | 18869 | 775893 |
|  Chesapeake Utilities Corp. | 2379 | 320427 |
|  New Jersey Resources Corp. | 15960 | 768474 |
|  Northwest Natural Holding Co. | 6304 | 283239 |
|  ONE Gas, Inc. | 9441 | 764155 |
|  RGC Resources, Inc. | 1254 | 28140 |
|  Rubis SCA | 6800 | 253717 |
|  Southwest Gas Holdings, Inc. | 10205 | 799460 |
|  Spire, Inc. | 9201 | 750065 |
|  |  | 4743570 |
|  ***Independent Power and Renewable Electricity Producers (0.2%)*** |  |  |
|  Hallador Energy Co.\* | 384 | 7515 |
|  Montauk Renewables, Inc.\* | 8648 | 17382 |
|  Ormat Technologies, Inc. | 9590 | 923038 |
|  |  | 947935 |
|  ***Multi-Utilities (0.5%)*** |  |  |
|  Avista Corp. | 12613 | 476897 |
|  Black Hills Corp. | 11447 | 705021 |
|  Northwestern Energy Group, Inc. | 9719 | 569631 |
|  Unitil Corp. | 2412 | 115438 |
|  |  | 1866987 |
|  ***Water Utilities (1.5%)*** |  |  |
|  American States Water Co. | 2043 | 149793 |
|  California Water Service Group | 9350 | 429071 |
|  Consolidated Water Co. Ltd. | 1576 | 55601 |
|  H2O America | 4951 | 241114 |
|  Middlesex Water Co. | 2307 | 124855 |
|  Pure Cycle Corp.\* | 2954 | 32701 |
|  WaterBridge Infrastructure LLC, Class A\* | 198065 | 4995199 |
|  York Water Co. (The) | 1679 | 51075 |
|  |  | 6079409 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 25165983 |
|  **Total Common Stocks (98.0%)**<br>*(Cost $269,743,795)* |  | 403673952 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Biotechnology (0.0%)†*** |  |  |
|  Aduro Biotech, Inc., CVR (r)\* | 237 | $— |
|  Chinook Therapeutics, Inc., CVR \* | 6337 | 1267 |
|  Icosavax, Inc., CVR \* | 3924 | 1177 |
|  Sanofi Aatd, Inc., CVR(r)\* | 1653 | 803 |
|  |  | 3247 |
|  ***Life Sciences Tools & Services (0.0%)*** |  |  |
|  OmniAb, Inc., expiring 11/1/27(r)(x)\* | 1612 |  |
|  **Total Rights (0.0%)†<br>(***Cost $1,715***)** |  | 3247 |
|  | **Number of<br>Warrants** | **Value**<br>**(Note 1)** |
|  WARRANTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Health Care Equipment & Supplies (0.0%)†*** |  |  |
|  Pulse Biosciences, Inc.,expiring 6/27/29(x)\*<br>*(Cost $—)* | 168 | 563 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (3.6%)** |  |  |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 1000000 | 1000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 8928074 | 8928074 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 5147945 | 5150004 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 15078078 |
|  **Total Short-Term Investments (3.6%)**<br> *(Cost $15,078,427)* |  | 15078078 |
|  **Total Investments in Securities (101.6%)**<br> *(Cost $284,823,937)* |  | 418755840 |
|  **Other Assets Less Liabilities (-1.6%)** |  | (6793971) |
|  **Net Assets (100%)** |  | $411961869 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $211,121 or 0.1% of net assets.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $29,711,936. This was collateralized by $20,285,617 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.250%, maturing 9/30/25 – 5/15/55 and by cash of $9,928,074 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*CVR — Contingent Value Right* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases<br>at<br>Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  COMMON STOCKS: |  |  |  |  |  |  |  |  |  |
|  **Financials** |  |  |  |  |  |  |  |  |  |
|  **Capital Markets** |  |  |  |  |  |  |  |  |  |
|  Associated Capital Group, Inc., Class A | 47400 | 2055570 |  | (454678) | 74210 | (85780) | 1589322 | 5440 |  |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  Long Contracts |  |  |  |  |  |
|  Russell 2000 E-Mini Index | 9 | 12/2025 | USD | 1104975 | 7259 |
|  |  |  |  |  | 7259 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $13057130 | $648253 | $— | $13705383 |
|  Consumer Discretionary | 63393895 |  |  | 63393895 |
|  Consumer Staples | 10644787 |  |  | 10644787 |
|  Energy | 56736102 |  |  | 56736102 |
|  Financials | 68686109 |  | — (a) | 68686109 |
|  Health Care | 19738557 |  | — (a) | 19738557 |
|  Industrials | 52431266 | 11369794 |  | 63801060 |
|  Information Technology | 17387080 |  |  | 17387080 |
|  Materials | 22790476 |  |  | 22790476 |
|  Real Estate | 41624520 |  |  | 41624520 |
|  Utilities | 24912266 | 253717 |  | 25165983 |
|  **Futures** | 7259 |  |  | 7259 |
|  **Rights** |  |  |  |  |
|  Health Care |  | 2444 | 803 | 3247 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 15078078 |  |  | 15078078 |
|  **Warrants** |  |  |  |  |
|  Health Care |  | 563 |  | 563 |
|  **Total Assets** | $**406487525** | $**12274771** | $**803** | $**418763099** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**–** |
|  **Total** | $**406487525** | $**12274771** | $**803** | $**418763099** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $168180806 |
|  Aggregate gross unrealized depreciation | (37180094) |
|  Net unrealized appreciation | $131000712 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $287762387 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SMARTBETA EQUITY ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  **COMMON STOCKS:** |  |  |
|  **Communication Services (7.8%)** |  |  |
|  ***Diversified Telecommunication Services (1.8%)*** |  |  |
|  AT&T, Inc. | 29767 | $840620 |
|  Deutsche Telekom AG (Registered) | 19166 | 652779 |
|  Koninklijke KPN NV | 187684 | 900572 |
|  NTT, Inc. | 582500 | 609344 |
|  Singapore Telecommunications Ltd. | 263000 | 842040 |
|  Swisscom AG (Registered) | 532 | 385943 |
|  Telstra Group Ltd. | 184009 | 586877 |
|  Verizon Communications, Inc. | 42552 | 1870160 |
|  |  | 6688335 |
|  ***Entertainment (0.4%)*** |  |  |
|  Electronic Arts, Inc. | 7410 | 1494597 |
|  ***Interactive Media & Services (4.4%)*** |  |  |
|  Alphabet, Inc., Class A | 47425 | 11529018 |
|  Meta Platforms, Inc., Class A | 6950 | 5103941 |
|  |  | 16632959 |
|  ***Media (0.4%)*** |  |  |
|  Comcast Corp., Class A | 40486 | 1272070 |
|  ***Wireless Telecommunication Services (0.8%)*** |  |  |
|  KDDI Corp. | 40800 | 651238 |
|  SoftBank Corp. | 707000 | 1040768 |
|  T-Mobile US, Inc. | 5964 | 1427662 |
|  |  | 3119668 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 29207629 |
|  **Consumer Discretionary (9.9%)** |  |  |
|  ***Automobile Components (0.2%)*** |  |  |
|  Bridgestone Corp. | 17400 | 805729 |
|  ***Automobiles (1.0%)*** |  |  |
|  Tesla, Inc.\* | 8700 | 3869064 |
|  ***Broadline Retail (2.8%)*** |  |  |
|  Amazon.com, Inc.\* | 31863 | 6996159 |
|  Dollarama, Inc. | 14022 | 1849247 |
|  eBay, Inc. | 4681 | 425737 |
|  Wesfarmers Ltd. | 22284 | 1356865 |
|  |  | 10628008 |
|  ***Hotels, Restaurants & Leisure (2.8%)*** |  |  |
|  Aristocrat Leisure Ltd. | 17514 | 810999 |
|  Booking Holdings, Inc. | 311 | 1679173 |
|  Chipotle Mexican Grill, Inc.\* | 15000 | 587850 |
|  Darden Restaurants, Inc. | 3397 | 646653 |
|  Lottery Corp. Ltd. (The) | 175394 | 682422 |
|  McDonald's Corp. | 13778 | 4186996 |
|  Oriental Land Co. Ltd.(x) | 16700 | 402806 |
|  Restaurant Brands International, Inc. | 6100 | 391326 |
|  Yum! Brands, Inc. | 7917 | 1203384 |
|  |  | 10591609 |
|  ***Household Durables (0.1%)*** |  |  |
|  Garmin Ltd. | 2062 | 507706 |
|  ***Specialty Retail (2.8%)*** |  |  |
|  Fast Retailing Co. Ltd. | 1400 | 426385 |
|  Home Depot, Inc. (The) | 5700 | 2309583 |
|  Lowe's Cos., Inc. | 6600 | 1658646 |
|  O'Reilly Automotive, Inc.\* | 17802 | 1919234 |
|  Ross Stores, Inc. | 2774 | 422730 |
|  TJX Cos., Inc. (The) | 21822 | 3154152 |
|  Tractor Supply Co. | 8000 | 454960 |
|  |  | 10345690 |
|  ***Textiles, Apparel & Luxury Goods (0.2%)*** |  |  |
|  adidas AG | 2710 | 570792 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 37318598 |
|  **Consumer Staples (9.9%)** |  |  |
|  ***Beverages (2.5%)*** |  |  |
|  Anheuser-Busch InBev SA/NV | 7741 | 461687 |
|  Coca-Cola Co. (The) | 42234 | 2800959 |
|  Diageo plc | 33069 | 789645 |
|  Keurig Dr Pepper, Inc. | 28287 | 721601 |
|  Monster Beverage Corp.\* | 8200 | 551942 |
|  PepsiCo, Inc. | 29253 | 4108291 |
|  |  | 9434125 |
|  ***Consumer Staples Distribution & Retail (3.0%)*** |  |  |
|  Coles Group Ltd. | 35880 | 552946 |
|  Costco Wholesale Corp. | 4930 | 4563356 |
|  Empire Co. Ltd., Class A | 17221 | 618085 |
|  George Weston Ltd. | 10500 | 640472 |
|  Kroger Co. (The) | 8100 | 546021 |
|  Loblaw Cos. Ltd. | 18800 | 727171 |
|  Metro, Inc., Class A | 7900 | 530584 |
|  Sysco Corp. | 5721 | 471067 |
|  Tesco plc | 105597 | 632688 |
|  Walmart, Inc. | 13903 | 1432843 |
|  Woolworths Group Ltd. | 24133 | 426367 |
|  |  | 11141600 |
|  ***Food Products (1.3%)*** |  |  |
|  Chocoladefabriken Lindt & |  |  |
|  Spruengli AG | 32 | 488813 |
|  Danone SA | 9011 | 784566 |
|  Hershey Co. (The) | 4900 | 916545 |
|  Mondelez International, Inc., Class A | 16235 | 1014200 |
|  Nestle SA (Registered) | 9940 | 912400 |
|  Orkla ASA | 62988 | 657680 |
|  |  | 4774204 |
|  ***Household Products (2.2%)*** |  |  |
|  Church & Dwight Co., Inc. | 8122 | 711731 |
|  Colgate-Palmolive Co. | 30113 | 2407233 |
|  Henkel AG & Co. KGaA (Preference)(q) | 11807 | 952320 |
|  Kimberly-Clark Corp. | 10800 | 1342872 |
|  Procter & Gamble Co. (The) | 20043 | 3079607 |
|  |  | 8493763 |
|  ***Personal Care Products (0.9%)*** |  |  |
|  Kao Corp. | 22500 | 981489 |
|  L'Oreal SA | 2805 | 1213548 |
|  Unilever plc (Cboe Europe) | 8484 | 503610 |
|  Unilever plc (London Stock Exchange) | 10307 | 609923 |
|  |  | 3308570 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 37152262 |
|  **Energy (0.5%)** |  |  |
|  ***Energy Equipment & Services (0.1%)*** |  |  |
|  Baker Hughes Co. | 9330 | 454557 |
|  ***Oil, Gas & Consumable Fuels (0.4%)*** |  |  |
|  Cheniere Energy, Inc. | 2843 | 668048 |
|  Equinor ASA | 34266 | 835744 |
|  |  | 1503792 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 1958349 |
|  **Financials (20.8%)** |  |  |
|  ***Banks (4.5%)*** |  |  |
|  Bank of Montreal | 4363 | 568535 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT SMARTBETA EQUITY ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Bank of Nova Scotia (The)(x) | 24858 | $1607366 |
|  Canadian Imperial Bank of Commerce(x) | 18890 | 1509490 |
|  DBS Group Holdings Ltd. | 33660 | 1334710 |
|  DNB Bank ASA | 29838 | 811762 |
|  Intesa Sanpaolo SpA | 103449 | 681844 |
|  JPMorgan Chase & Co. | 7628 | 2406100 |
|  National Bank of Canada(x) | 8646 | 918401 |
|  Nordea Bank Abp (Aquis Stock Exchange) | 37103 | 608762 |
|  Nordea Bank Abp (Turquoise Stock Exchange) | 33032 | 541387 |
|  Oversea-Chinese Banking Corp. Ltd. | 76900 | 980066 |
|  Royal Bank of Canada | 27007 | 3980510 |
|  Sumitomo Mitsui Financial Group, Inc. | 16500 | 465930 |
|  United Overseas Bank Ltd. | 19800 | 530783 |
|  |  | 16945646 |
|  ***Capital Markets (3.9%)*** |  |  |
|  Ameriprise Financial, Inc. | 1000 | 491250 |
|  ASX Ltd. | 10412 | 403663 |
|  Bank of New York Mellon Corp. (The) | 12800 | 1394688 |
|  Cboe Global Markets, Inc. | 6955 | 1705714 |
|  Charles Schwab Corp. (The) | 9066 | 865531 |
|  CME Group, Inc. | 9937 | 2684878 |
|  Deutsche Boerse AG | 6178 | 1654473 |
|  Intercontinental Exchange, Inc. | 11062 | 1863726 |
|  Moody's Corp. | 1000 | 476480 |
|  Nasdaq, Inc. | 13500 | 1194075 |
|  S&P Global, Inc. | 1887 | 918422 |
|  Singapore Exchange Ltd. | 33900 | 434410 |
|  TMX Group Ltd. | 15500 | 592958 |
|  |  | 14680268 |
|  ***Consumer Finance (0.3%)*** |  |  |
|  American Express Co. | 3433 | 1140305 |
|  ***Financial Services (3.7%)*** |  |  |
|  Berkshire Hathaway, Inc., Class B\* | 6130 | 3081796 |
|  Fiserv, Inc.\* | 8100 | 1044333 |
|  Jack Henry & Associates, Inc. | 2600 | 387218 |
|  Mastercard, Inc., Class A | 7265 | 4132405 |
|  Visa, Inc., Class A | 14578 | 4976637 |
|  |  | 13622389 |
|  ***Insurance (8.4%)*** |  |  |
|  Aflac, Inc. | 16100 | 1798370 |
|  Allianz SE (Registered) | 5190 | 2177752 |
|  Allstate Corp. (The) | 3247 | 696969 |
|  Aon plc, Class A | 2792 | 995571 |
|  Chubb Ltd. | 8857 | 2499888 |
|  Dai-ichi Life Holdings, Inc. | 48700 | 383975 |
|  Generali | 31746 | 1245237 |
|  Gjensidige Forsikring ASA | 24351 | 713970 |
|  Great-West Lifeco, Inc. | 17443 | 707897 |
|  Hannover Rueck SE | 2335 | 703445 |
|  Hartford Insurance Group, Inc. (The) | 11900 | 1587341 |
|  Intact Financial Corp. | 5700 | 1108996 |
|  Loews Corp. | 12300 | 1234797 |
|  Medibank Pvt Ltd. | 185639 | 592076 |
|  MS&AD Insurance Group Holdings, Inc. | 16200 | 367632 |
|  Muenchener Rueckversicherungs- Gesellschaft AG in Muenchen (Registered) | 2258 | 1440556 |
|  Poste Italiane SpA(m) | 33001 | 782258 |
|  Power Corp. of Canada(x) | 19200 | 830800 |
|  Progressive Corp. (The) | 8778 | 2167727 |
|  QBE Insurance Group Ltd. | 51545 | 702270 |
|  Sampo OYJ, Class A | 101955 | 1170429 |
|  Sompo Holdings, Inc. | 18400 | 569226 |
|  Sun Life Financial, Inc. | 15700 | 942767 |
|  Suncorp Group Ltd. | 30910 | 414381 |
|  Swiss Re AG | 2383 | 440199 |
|  Tokio Marine Holdings, Inc. | 15900 | 674018 |
|  Travelers Cos., Inc. (The) | 7189 | 2007313 |
|  Willis Towers Watson plc | 1709 | 590374 |
|  Zurich Insurance Group AG | 2783 | 1980840 |
|  |  | 31527074 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 77915682 |
|  **Health Care (8.5%)** |  |  |
|  ***Biotechnology (0.5%)*** |  |  |
|  AbbVie, Inc. | 2633 | 609645 |
|  Gilead Sciences, Inc. | 9653 | 1071483 |
|  |  | 1681128 |
|  ***Health Care Equipment & Supplies (2.8%)*** |  |  |
|  Abbott Laboratories | 20405 | 2733046 |
|  Becton Dickinson & Co. | 4965 | 929299 |
|  Boston Scientific Corp.\* | 22551 | 2201654 |
|  IDEXX Laboratories, Inc.\* | 1600 | 1022224 |
|  Medtronic plc | 17130 | 1631461 |
|  ResMed, Inc. | 1843 | 504484 |
|  STERIS plc | 1820 | 450341 |
|  Stryker Corp. | 3250 | 1201428 |
|  |  | 10673937 |
|  ***Health Care Providers & Services (1.2%)*** |  |  |
|  Cencora, Inc. | 4777 | 1492956 |
|  Cigna Group (The) | 2780 | 801335 |
|  HCA Healthcare, Inc. | 1582 | 674249 |
|  McKesson Corp. | 1897 | 1465508 |
|  |  | 4434048 |
|  ***Health Care Technology (0.2%)*** |  |  |
|  Veeva Systems, Inc., Class A\* | 2283 | 680128 |
|  ***Life Sciences Tools & Services (0.3%)*** |  |  |
|  Agilent Technologies, Inc. | 3554 | 456156 |
|  Mettler-Toledo International, Inc.\* | 600 | 736566 |
|  |  | 1192722 |
|  ***Pharmaceuticals (3.5%)*** |  |  |
|  Bristol-Myers Squibb Co. | 31455 | 1418621 |
|  Eli Lilly & Co. | 1103 | 841589 |
|  Johnson & Johnson | 18297 | 3392630 |
|  Merck & Co., Inc. | 9405 | 789362 |
|  Novartis AG (Registered) | 18803 | 2364872 |
|  Novo Nordisk A/S (ADR)(x) | 8107 | 449857 |
|  Roche Holding AG | 2660 | 868455 |
|  Sanofi SA | 7938 | 732055 |
|  Shionogi & Co. Ltd. | 45700 | 800835 |
|  Zoetis, Inc. | 10600 | 1550992 |
|  |  | 13209268 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 31871231 |
|  **Industrials (14.2%)** |  |  |
|  ***Aerospace & Defense (1.5%)*** |  |  |
|  GE Aerospace | 11875 | 3572237 |
|  Howmet Aerospace, Inc. | 4865 | 954659 |
|  Singapore Technologies Engineering Ltd. | 145200 | 969163 |
|  |  | 5496059 |
|  ***Air Freight & Logistics (0.4%)*** |  |  |
|  Expeditors International of Washington, Inc.(x) | 9000 | 1103310 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT SMARTBETA EQUITY ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  United Parcel Service, Inc., Class B | 5500 | $459415 |
|  |  | 1562725 |
|  ***Building Products (1.3%)*** |  |  |
|  Allegion plc | 6567 | 1164657 |
|  Geberit AG (Registered) | 974 | 730699 |
|  Johnson Controls International plc | 7740 | 851013 |
|  Trane Technologies plc | 5123 | 2161701 |
|  |  | 4908070 |
|  ***Commercial Services & Supplies (1.3%)*** |  |  |
|  Brambles Ltd. | 35114 | 576226 |
|  Cintas Corp. | 6800 | 1395768 |
|  Copart, Inc.\* | 20400 | 917388 |
|  Republic Services, Inc. | 2974 | 682474 |
|  Secom Co. Ltd. | 35000 | 1283937 |
|  |  | 4855793 |
|  ***Construction & Engineering (0.6%)*** |  |  |
|  EMCOR Group, Inc. | 717 | 465720 |
|  Stantec, Inc. | 6294 | 678786 |
|  WSP Global, Inc. | 5245 | 1030759 |
|  |  | 2175265 |
|  ***Electrical Equipment (0.8%)*** |  |  |
|  ABB Ltd. (Registered) | 15591 | 1122638 |
|  Eaton Corp. plc | 5262 | 1969304 |
|  |  | 3091942 |
|  ***Ground Transportation (0.3%)*** |  |  |
|  Central Japan Railway Co. | 17000 | 487751 |
|  Union Pacific Corp. | 3636 | 859441 |
|  |  | 1347192 |
|  ***Industrial Conglomerates (0.8%)*** |  |  |
|  Honeywell International, Inc. | 11370 | 2393385 |
|  Siemens AG (Registered) | 2503 | 673538 |
|  |  | 3066923 |
|  ***Machinery (3.7%)*** |  |  |
|  Atlas Copco AB, Class A | 48743 | 822704 |
|  Caterpillar, Inc. | 5213 | 2487383 |
|  Cummins, Inc. | 1089 | 459961 |
|  FANUC Corp. | 17000 | 489935 |
|  GEA Group AG | 9600 | 708375 |
|  Illinois Tool Works, Inc. | 11300 | 2946588 |
|  Kone OYJ, Class B | 8843 | 602163 |
|  Otis Worldwide Corp. | 8517 | 778709 |
|  Parker-Hannifin Corp. | 1636 | 1240334 |
|  Pentair plc | 10178 | 1127315 |
|  Snap-on, Inc. | 4100 | 1420773 |
|  Volvo AB, Class B | 26961 | 771795 |
|  |  | 13856035 |
|  ***Professional Services (2.6%)*** |  |  |
|  Automatic Data Processing, Inc. | 5929 | 1740161 |
|  Booz Allen Hamilton Holding Corp. | 5000 | 499750 |
|  Broadridge Financial Solutions, Inc. | 5416 | 1289929 |
|  Leidos Holdings, Inc. | 3500 | 661360 |
|  Paychex, Inc. | 8500 | 1077460 |
|  RELX plc | 10385 | 496799 |
|  Thomson Reuters Corp. | 8863 | 1376226 |
|  Verisk Analytics, Inc. | 5600 | 1408456 |
|  Wolters Kluwer NV | 7972 | 1087109 |
|  |  | 9637250 |
|  ***Trading Companies & Distributors (0.9%)*** |  |  |
|  Fastenal Co. | 41517 | 2035994 |
|  ITOCHU Corp. | 9700 | 552674 |
|  W.W. Grainger, Inc. | 900 | 857664 |
|  |  | 3446332 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 53443586 |
|  **Information Technology (20.7%)** |  |  |
|  ***Communications Equipment (1.1%)*** |  |  |
|  Cisco Systems, Inc. | 27961 | 1913092 |
|  Motorola Solutions, Inc. | 4793 | 2191791 |
|  |  | 4104883 |
|  ***Electronic Equipment, Instruments & Components (0.2%)*** |  |  |
|  CDW Corp. | 4900 | 780472 |
|  ***IT Services (1.3%)*** |  |  |
|  Accenture plc, Class A | 6980 | 1721268 |
|  CGI, Inc. | 9559 | 851429 |
|  Fujitsu Ltd. | 22100 | 520651 |
|  International Business Machines Corp. | 3737 | 1054432 |
|  VeriSign, Inc. | 3000 | 838710 |
|  |  | 4986490 |
|  ***Semiconductors & Semiconductor Equipment (6.4%)*** |  |  |
|  Broadcom, Inc. | 15318 | 5053561 |
|  NVIDIA Corp. | 95871 | 17887611 |
|  QUALCOMM, Inc. | 6638 | 1104298 |
|  |  | 24045470 |
|  ***Software (6.8%)*** |  |  |
|  Autodesk, Inc.\* | 2355 | 748113 |
|  Constellation Software, Inc. | 370 | 1004421 |
|  Intuit, Inc. | 1782 | 1216945 |
|  Microsoft Corp. | 32944 | 17063345 |
|  Oracle Corp. | 9471 | 2663624 |
|  Roper Technologies, Inc. | 2300 | 1146987 |
|  Salesforce, Inc. | 5617 | 1331229 |
|  SAP SE | 1790 | 478943 |
|  |  | 25653607 |
|  ***Technology Hardware, Storage & Peripherals (4.9%)*** |  |  |
|  Apple, Inc. | 69446 | 17683035 |
|  Seagate Technology Holdings plc | 2136 | 504224 |
|  |  | 18187259 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 77758181 |
|  **Materials (2.4%)** |  |  |
|  ***Chemicals (1.9%)*** |  |  |
|  Air Liquide SA | 2867 | 595311 |
|  Corteva, Inc. | 8766 | 592845 |
|  Ecolab, Inc. | 7590 | 2078597 |
|  Givaudan SA (Registered) | 280 | 1136813 |
|  Mitsubishi Chemical Group Corp. | 76600 | 440948 |
|  Nitto Denko Corp.(x) | 33000 | 784806 |
|  Sherwin-Williams Co. (The) | 5051 | 1748959 |
|  |  | 7378279 |
|  ***Metals & Mining (0.5%)*** |  |  |
|  Newmont Corp. | 8286 | 698593 |
|  Wheaton Precious Metals Corp. | 9652 | 1080119 |
|  |  | 1778712 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 9156991 |
|  **Real Estate (1.0%)** |  |  |
|  ***Real Estate Management & Development (0.3%)*** |  |  |
|  Daito Trust Construction Co. Ltd. | 20500 | 449826 |
|  Daiwa House Industry Co. Ltd. | 10800 | 388518 |
|  Mitsui Fudosan Co. Ltd. | 40600 | 442830 |
|  |  | 1281174 |
|  ***Residential REITs (0.7%)*** |  |  |
|  AvalonBay Communities, Inc. (REIT) | 4795 | 926250 |
|  Equity Residential (REIT) | 9300 | 601989 |
|  Essex Property Trust, Inc. (REIT) | 1700 | 455022 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT SMARTBETA EQUITY ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Mid-America Apartment Communities, Inc. (REIT) | 3300 | $461109 |
|  |  | 2444370 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 3725544 |
|  **Utilities (3.7%)** |  |  |
|  ***Electric Utilities (1.7%)*** |  |  |
|  Enel SpA | 102593 | 971544 |
|  Eversource Energy | 9298 | 661460 |
|  Exelon Corp. | 26699 | 1201722 |
|  Hydro One Ltd.(m) | 17164 | 612339 |
|  Iberdrola SA | 70995 | 1342379 |
|  Redeia Corp. SA | 31834 | 614440 |
|  Terna - Rete Elettrica Nazionale | 99482 | 1008891 |
|  |  | 6412775 |
|  ***Gas Utilities (0.7%)*** |  |  |
|  Atmos Energy Corp. | 8604 | 1469133 |
|  Hong Kong & China Gas Co. Ltd. | 708000 | 615023 |
|  Osaka Gas Co. Ltd. | 15800 | 458236 |
|  |  | 2542392 |
|  ***Multi-Utilities (1.3%)*** |  |  |
|  Consolidated Edison, Inc. | 14800 | 1487696 |
|  E.ON SE | 55801 | 1049193 |
|  National Grid plc | 71216 | 1022435 |
|  Public Service Enterprise Group, Inc. | 8400 | 701064 |
|  Sempra | 8259 | 743145 |
|  |  | 5003533 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 13958700 |
|  **Total Common Stocks (99.4%)**<br> *(Cost $246,191,111)* |  | 373466753 |
|  | **Number of<br>Warrants** | **Value**<br>**(Note 1)** |
|  **WARRANTS:** |  |  |
|  **Information Technology (0.0%)** |  |  |
|  ***Software (0.0%)*** |  |  |
|  Constellation Software, Inc., expiring 3/31/40(r)\*<br>*(Cost $—)* | 200 |  |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.8%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 1579790 | 1579790 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 1291415 | 1291931 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 2871721 |
|  **Total Short-Term Investments (0.8%)**<br> *(Cost $2,871,850)* |  | 2871721 |
|  **Total Investments in Securities (100.2%)**<br> *(Cost $249,062,961)* |  | 376338474 |
|  **Other Assets Less Liabilities (-0.2%)** |  | (862211) |
|  **Net Assets (100%)** |  | $375476263 |

---

*\** *Non-income producing.* 

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $1,394,597 or 0.4% of net assets.* 

*(q)* *Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $5,670,024. This was collateralized by $4,332,801 of various U.S. Government Treasury Securities, ranging from 0.000% – 5.375%, maturing 10/9/25 – 5/15/55 and by cash of $1,579,790 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*REIT — Real Estate Investment Trust* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT SMARTBETA EQUITY ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $23538068 | $5669561 | $— | $29207629 |
|  Consumer Discretionary | 32262600 | 5055998 |  | 37318598 |
|  Consumer Staples | 27184580 | 9967682 |  | 37152262 |
|  Energy | 1122605 | 835744 |  | 1958349 |
|  Financials | 55109628 | 22806054 |  | 77915682 |
|  Health Care | 27105014 | 4766217 |  | 31871231 |
|  Industrials | 42068080 | 11375506 |  | 53443586 |
|  Information Technology | 76758587 | 999594 |  | 77758181 |
|  Materials | 6199113 | 2957878 |  | 9156991 |
|  Real Estate | 2444370 | 1281174 |  | 3725544 |
|  Utilities | 6876559 | 7082141 |  | 13958700 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 2871721 |  |  | 2871721 |
|  **Warrants** |  |  |  |  |
|  Information Technology |  |  | — (a) | — (a) |
|  **Total Assets** | $**303540925** | $**72797549** | $**—** | $**376338474** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**303540925** | $**72797549** | $**—** | $**376338474** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $132913573 |
|  Aggregate gross unrealized depreciation | (5650301) |
|  Net unrealized appreciation | $127263272 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $249075202 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

1290 VT SOCIALLY RESPONSIBLE PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (10.1%)** |  |  |
|  ***Diversified Telecommunication Services (0.6%)*** |  |  |
|  Lumen Technologies, Inc.\* | 8090 | $49511 |
|  Verizon Communications, Inc. | 38201 | 1678934 |
|  |  | 1728445 |
|  ***Entertainment (1.0%)*** |  |  |
|  Electronic Arts, Inc. | 2173 | 438294 |
|  Walt Disney Co. (The) | 16224 | 1857648 |
|  Warner Bros Discovery, Inc.\* | 21341 | 416790 |
|  |  | 2712732 |
|  ***Interactive Media & Services (8.4%)*** |  |  |
|  Alphabet, Inc., Class A | 52599 | 12786817 |
|  Alphabet, Inc., Class C | 44402 | 10814107 |
|  ZoomInfo Technologies, Inc., Class A\* | 2704 | 29500 |
|  |  | 23630424 |
|  ***Media (0.1%)*** |  |  |
|  Cable One, Inc.(x) | 49 | 8675 |
|  John Wiley & Sons, Inc., Class A | 342 | 13841 |
|  New York Times Co. (The), Class A | 1359 | 78007 |
|  Omnicom Group, Inc. | 1755 | 143085 |
|  Scholastic Corp. | 27 | 739 |
|  |  | 244347 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 28315948 |
|  **Consumer Discretionary (9.7%)** |  |  |
|  ***Automobile Components (0.1%)*** |  |  |
|  Aptiv plc\* | 1982 | 170888 |
|  Autoliv, Inc. | 657 | 81140 |
|  BorgWarner, Inc. | 2074 | 91173 |
|  |  | 343201 |
|  ***Automobiles (4.2%)*** |  |  |
|  Harley-Davidson, Inc. | 1032 | 28793 |
|  Lucid Group, Inc., Class A(x)\* | 1007 | 23957 |
|  Rivian Automotive, Inc., Class A(x)\* | 7200 | 105696 |
|  Tesla, Inc.\* | 26199 | 11651219 |
|  |  | 11809665 |
|  ***Broadline Retail (0.0%)†*** |  |  |
|  Kohl's Corp. | 1117 | 17168 |
|  ***Distributors (0.1%)*** |  |  |
|  Genuine Parts Co. | 1235 | 171171 |
|  LKQ Corp. | 2426 | 74090 |
|  Pool Corp. | 333 | 103253 |
|  |  | 348514 |
|  ***Hotels, Restaurants & Leisure (2.4%)*** |  |  |
|  Aramark | 2385 | 91584 |
|  Booking Holdings, Inc. | 294 | 1587385 |
|  Choice Hotels International, Inc.(x) | 276 | 29507 |
|  Darden Restaurants, Inc. | 1072 | 204066 |
|  Domino's Pizza, Inc. | 285 | 123037 |
|  Hilton Worldwide Holdings, Inc. | 2164 | 561428 |
|  Marriott International, Inc., Class A | 2120 | 552133 |
|  McDonald's Corp. | 6457 | 1962218 |
|  Royal Caribbean Cruises Ltd. | 2340 | 757177 |
|  Starbucks Corp. | 10229 | 865374 |
|  Vail Resorts, Inc.(x) | 314 | 46965 |
|  |  | 6780874 |
|  ***Household Durables (0.2%)*** |  |  |
|  Ethan Allen Interiors, Inc. | 235 | 6923 |
|  Garmin Ltd. | 1490 | 366868 |
|  La-Z-Boy, Inc. | 357 | 12252 |
|  Meritage Homes Corp. | 632 | 45776 |
|  Mohawk Industries, Inc.\* | 484 | 62397 |
|  Newell Brands, Inc. | 3777 | 19792 |
|  Whirlpool Corp.(x) | 528 | 41501 |
|  |  | 555509 |
|  ***Leisure Products (0.1%)*** |  |  |
|  Hasbro, Inc. | 1180 | 89503 |
|  Mattel, Inc.\* | 2965 | 49901 |
|  Topgolf Callaway Brands Corp.\* | 1567 | 14886 |
|  |  | 154290 |
|  ***Specialty Retail (2.2%)*** |  |  |
|  AutoNation, Inc.\* | 228 | 49880 |
|  Best Buy Co., Inc. | 1815 | 137250 |
|  Buckle, Inc. (The) | 355 | 20824 |
|  CarMax, Inc.\* | 1308 | 58690 |
|  GameStop Corp., Class A\* | 3908 | 106610 |
|  Gap, Inc. (The) | 2048 | 43807 |
|  Home Depot, Inc. (The) | 8992 | 3643469 |
|  Lowe's Cos., Inc. | 5072 | 1274644 |
|  Signet Jewelers Ltd.(x) | 341 | 32709 |
|  Tractor Supply Co. | 4865 | 276673 |
|  Ulta Beauty, Inc.\* | 399 | 218153 |
|  Williams-Sonoma, Inc. | 1134 | 221640 |
|  |  | 6084349 |
|  ***Textiles, Apparel & Luxury Goods (0.4%)*** |  |  |
|  Capri Holdings Ltd.\* | 1033 | 20577 |
|  Columbia Sportswear Co. | 276 | 14435 |
|  Deckers Outdoor Corp.\* | 1364 | 138269 |
|  Hanesbrands, Inc.\* | 2926 | 19282 |
|  NIKE, Inc., Class B | 10598 | 738999 |
|  PVH Corp. | 484 | 40545 |
|  Under Armour, Inc., Class A\* | 2099 | 10474 |
|  Under Armour, Inc., Class C(x)\* | 1024 | 4946 |
|  VF Corp. | 3073 | 44343 |
|  Wolverine World Wide, Inc. | 585 | 16052 |
|  |  | 1047922 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 27141492 |
|  **Consumer Staples (4.5%)** |  |  |
|  ***Beverages (1.6%)*** |  |  |
|  Coca-Cola Co. (The) | 36956 | 2450922 |
|  Keurig Dr Pepper, Inc. | 11742 | 299539 |
|  PepsiCo, Inc. | 12369 | 1737102 |
|  |  | 4487563 |
|  ***Consumer Staples Distribution & Retail (0.4%)*** |  |  |
|  Kroger Co. (The) | 5746 | 387338 |
|  Sysco Corp. | 4361 | 359085 |
|  Target Corp. | 4133 | 370730 |
|  United Natural Foods, Inc.\* | 460 | 17305 |
|  |  | 1134458 |
|  ***Food Products (0.8%)*** |  |  |
|  Archer-Daniels-Midland Co. | 4313 | 257659 |
|  Bunge Global SA | 1169 | 94981 |
|  Campbell's Co. (The)(x) | 1813 | 57254 |
|  Conagra Brands, Inc. | 4143 | 75858 |
|  Darling Ingredients, Inc.\* | 1502 | 46367 |
|  General Mills, Inc. | 4903 | 247209 |
|  Hormel Foods Corp. | 2762 | 68332 |
|  Ingredion, Inc. | 602 | 73510 |
|  J M Smucker Co. (The) | 983 | 106754 |
|  Kellanova | 2538 | 208167 |
|  Kraft Heinz Co. (The) | 7981 | 207825 |
|  Lamb Weston Holdings, Inc. | 1257 | 73007 |
|  McCormick & Co., Inc. (Non-Voting) | 2247 | 150347 |
|  Mondelez International, Inc., Class A | 11725 | 732461 |
|  |  | 2399731 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SOCIALLY RESPONSIBLE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***Household Products (1.6%)*** |  |  |
|  Church & Dwight Co., Inc. | 2247 | $196905 |
|  Clorox Co. (The) | 1116 | 137603 |
|  Colgate-Palmolive Co. | 7007 | 560140 |
|  Kimberly-Clark Corp. | 2984 | 371030 |
|  Procter & Gamble Co. (The) | 21187 | 3255382 |
|  |  | 4521060 |
|  ***Personal Care Products (0.1%)*** |  |  |
|  Estee Lauder Cos., Inc. (The), Class A | 2146 | 189105 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 12731917 |
|  ***Energy (1.3%)*** |  |  |
|  Energy Equipment & Services (0.3%) |  |  |
|  Baker Hughes Co. | 8906 | 433900 |
|  Halliburton Co. | 7841 | 192889 |
|  NOV, Inc. | 3692 | 48919 |
|  TechnipFMC plc | 3746 | 147780 |
|  |  | 823488 |
|  ***Oil, Gas & Consumable Fuels (1.0%)*** |  |  |
|  Cheniere Energy, Inc. | 1994 | 468550 |
|  HF Sinclair Corp. | 1369 | 71653 |
|  Marathon Petroleum Corp. | 2797 | 539094 |
|  ONEOK, Inc. | 5656 | 412718 |
|  Phillips 66 | 3675 | 499873 |
|  Targa Resources Corp. | 1981 | 331897 |
|  Valero Energy Corp. | 2825 | 480985 |
|  |  | 2804770 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 3628258 |
|  **Financials (11.9%)** |  |  |
|  ***Banks (1.0%)*** |  |  |
|  Bank of Hawaii Corp. | 341 | 22383 |
|  Cathay General Bancorp | 666 | 31975 |
|  Citizens Financial Group, Inc. | 3947 | 209822 |
|  Comerica, Inc. | 1188 | 81402 |
|  Huntington Bancshares, Inc. | 13354 | 230624 |
|  International Bancshares Corp. | 523 | 35956 |
|  KeyCorp | 8543 | 159669 |
|  M&T Bank Corp. | 1462 | 288920 |
|  Old National Bancorp | 2920 | 64094 |
|  PNC Financial Services Group, Inc. (The) | 3585 | 720334 |
|  Regions Financial Corp. | 8161 | 215206 |
|  Truist Financial Corp. | 11849 | 541736 |
|  Zions Bancorp NA | 1307 | 73950 |
|  |  | 2676071 |
|  ***Capital Markets (4.1%)*** |  |  |
|  Ameriprise Financial, Inc. | 863 | 423949 |
|  Bank of New York Mellon Corp. (The) | 6497 | 707913 |
|  BlackRock, Inc.‡ | 1329 | 1549441 |
|  Cboe Global Markets, Inc. | 945 | 231761 |
|  Charles Schwab Corp. (The) | 15628 | 1492005 |
|  CME Group, Inc. | 3249 | 877847 |
|  FactSet Research Systems, Inc. | 347 | 99412 |
|  Franklin Resources, Inc. | 2691 | 62243 |
|  Intercontinental Exchange, Inc. | 5175 | 871884 |
|  Invesco Ltd. | 3327 | 76321 |
|  MarketAxess Holdings, Inc. | 336 | 58548 |
|  Moody's Corp. | 1469 | 699949 |
|  Morgan Stanley | 10805 | 1717563 |
|  Nasdaq, Inc. | 3878 | 343009 |
|  Northern Trust Corp. | 1776 | 239050 |
|  Raymond James Financial, Inc. | 1736 | 299634 |
|  S&P Global, Inc. | 2842 | 1383230 |
|  State Street Corp. | 2574 | 298610 |
| T. Rowe Price Group, Inc. | 2023 | 207641 |
|  |  | 11640010 |
|  ***Consumer Finance (0.7%)*** |  |  |
|  Ally Financial, Inc. | 2586 | 101371 |
|  American Express Co. | 5074 | 1685380 |
|  Synchrony Financial | 3409 | 242210 |
|  |  | 2028961 |
|  ***Financial Services (3.8%)*** |  |  |
|  Equitable Holdings, Inc.‡ | 2812 | 142793 |
|  Fidelity National Information Services, Inc. | 4784 | 315457 |
|  Mastercard, Inc., Class A | 7738 | 4401452 |
|  PayPal Holdings, Inc.\* | 8287 | 555726 |
|  Visa, Inc., Class A | 15463 | 5278759 |
|  Voya Financial, Inc. | 848 | 63430 |
|  Western Union Co. (The) | 3154 | 25201 |
|  |  | 10782818 |
|  ***Insurance (2.3%)*** |  |  |
|  Allstate Corp. (The) | 2377 | 510223 |
|  Arthur J Gallagher & Co. | 2303 | 713331 |
|  Chubb Ltd. | 3434 | 969246 |
|  Hartford Insurance Group, Inc. (The) | 2593 | 345880 |
|  Lincoln National Corp. | 1536 | 61947 |
|  Loews Corp. | 1635 | 164138 |
|  Marsh & McLennan Cos., Inc. | 4441 | 894995 |
|  Principal Financial Group, Inc. | 2000 | 165820 |
|  Progressive Corp. (The) | 5292 | 1306859 |
|  Prudential Financial, Inc. | 3177 | 329582 |
|  Travelers Cos., Inc. (The) | 2041 | 569888 |
|  Willis Towers Watson plc | 895 | 309178 |
|  |  | 6341087 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 33468947 |
|  **Health Care (7.4%)** |  |  |
|  ***Biotechnology (2.7%)*** |  |  |
|  AbbVie, Inc. | 15964 | 3696305 |
|  Amgen, Inc. | 4860 | 1371492 |
|  Biogen, Inc.\* | 1341 | 187847 |
|  BioMarin Pharmaceutical, Inc.\* | 1783 | 96567 |
|  Gilead Sciences, Inc. | 11254 | 1249194 |
|  Vertex Pharmaceuticals, Inc.\* | 2332 | 913305 |
|  |  | 7514710 |
|  ***Health Care Equipment & Supplies (1.0%)*** |  |  |
|  Align Technology, Inc.\* | 590 | 73880 |
|  Becton Dickinson & Co. | 2585 | 483834 |
|  Cooper Cos., Inc. (The)\* | 1797 | 123202 |
|  Dentsply Sirona, Inc. | 1915 | 24301 |
|  Dexcom, Inc.\* | 3571 | 240293 |
|  Edwards Lifesciences Corp.\* | 5278 | 410470 |
|  Hologic, Inc.\* | 2003 | 135182 |
|  IDEXX Laboratories, Inc.\* | 731 | 467029 |
|  Insulet Corp.\* | 631 | 194809 |
|  ResMed, Inc. | 1334 | 365156 |
|  STERIS plc | 889 | 219974 |
|  Zimmer Biomet Holdings, Inc. | 1789 | 176217 |
|  |  | 2914347 |
|  ***Health Care Providers & Services (1.4%)*** |  |  |
|  Cardinal Health, Inc. | 2153 | 337935 |
|  Cencora, Inc. | 1665 | 520362 |
|  Centene Corp.\* | 4370 | 155922 |
|  Cigna Group (The) | 2402 | 692376 |
|  DaVita, Inc.\* | 345 | 45840 |
|  Elevance Health, Inc. | 2038 | 658519 |
|  HCA Healthcare, Inc. | 1643 | 700247 |
|  Henry Schein, Inc.\* | 1029 | 68295 |
|  Humana, Inc. | 1090 | 283585 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SOCIALLY RESPONSIBLE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Labcorp Holdings, Inc. | 765 | $219601 |
|  Pediatrix Medical Group, Inc.\* | 946 | 15845 |
|  Quest Diagnostics, Inc. | 1002 | 190961 |
|  Select Medical Holdings Corp. | 1036 | 13302 |
|  |  | 3902790 |
|  ***Health Care Technology (0.2%)*** |  |  |
|  Teladoc Health, Inc.(x)\* | 1828 | 14131 |
|  Veeva Systems, Inc., Class A\* | 1408 | 419457 |
|  |  | 433588 |
|  ***Life Sciences Tools & Services (0.9%)*** |  |  |
|  Agilent Technologies, Inc. | 2569 | 329731 |
|  Bio-Techne Corp. | 1348 | 74989 |
|  Danaher Corp. | 5801 | 1150106 |
|  Illumina, Inc.\* | 1458 | 138466 |
|  IQVIA Holdings, Inc.\* | 1559 | 296117 |
|  Mettler-Toledo International, Inc.\* | 185 | 227108 |
|  Revvity, Inc. | 1073 | 94048 |
|  Waters Corp.\* | 549 | 164596 |
|  West Pharmaceutical Services, Inc. | 633 | 166055 |
|  |  | 2641216 |
|  ***Pharmaceuticals (1.2%)*** |  |  |
|  Bristol-Myers Squibb Co. | 18470 | 832997 |
|  Jazz Pharmaceuticals plc\* | 505 | 66559 |
|  Merck & Co., Inc. | 22662 | 1902022 |
|  Zoetis, Inc. | 4042 | 591425 |
|  |  | 3393003 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 20799654 |
|  **Industrials (8.2%)** |  |  |
|  ***Aerospace & Defense (0.2%)*** |  |  |
|  Axon Enterprise, Inc.\* | 663 | 475795 |
|  ***Air Freight & Logistics (0.3%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 1098 | 145375 |
|  Expeditors International of Washington, Inc. | 1205 | 147721 |
|  United Parcel Service, Inc., Class B | 6590 | 550463 |
|  |  | 843559 |
|  ***Building Products (1.0%)*** |  |  |
|  A.O. Smith Corp. | 1096 | 80457 |
|  Allegion plc | 801 | 142057 |
|  Builders FirstSource, Inc.\* | 977 | 118461 |
|  Carrier Global Corp. | 7021 | 419154 |
|  Fortune Brands Innovations, Inc. | 1101 | 58782 |
|  Johnson Controls International plc | 5949 | 654093 |
|  Lennox International, Inc. | 290 | 153515 |
|  Masco Corp. | 1888 | 132896 |
|  Owens Corning | 746 | 105529 |
|  Trane Technologies plc | 2010 | 848140 |
|  |  | 2713084 |
|  ***Commercial Services & Supplies (0.3%)*** |  |  |
|  Copart, Inc.\* | 8400 | 377748 |
|  Deluxe Corp.(x) | 487 | 9428 |
|  HNI Corp. | 507 | 23753 |
|  Interface, Inc., Class A | 393 | 11373 |
|  Steelcase, Inc., Class A | 654 | 11249 |
|  Tetra Tech, Inc. | 2211 | 73803 |
|  Veralto Corp. | 2268 | 241792 |
|  |  | 749146 |
|  ***Construction & Engineering (0.3%)*** |  |  |
|  EMCOR Group, Inc. | 401 | 260466 |
|  Granite Construction, Inc.(x) | 417 | 45724 |
|  Quanta Services, Inc. | 1339 | 554908 |
|  |  | 861098 |
|  ***Electrical Equipment (0.7%)*** |  |  |
|  Acuity, Inc. | 265 | 91263 |
|  Eaton Corp. plc | 3539 | 1324471 |
|  Hubbell, Inc., Class B | 473 | 203537 |
|  Rockwell Automation, Inc. | 1032 | 360715 |
|  Sensata Technologies Holding plc | 1266 | 38676 |
|  |  | 2018662 |
|  ***Ground Transportation (1.0%)*** |  |  |
|  ArcBest Corp. | 225 | 15721 |
|  Avis Budget Group, Inc.(x)\* | 166 | 26656 |
|  CSX Corp. | 16851 | 598379 |
|  JB Hunt Transport Services, Inc. | 720 | 96602 |
|  Knight-Swift Transportation Holdings, Inc., Class A | 1482 | 58554 |
|  Norfolk Southern Corp. | 2035 | 611334 |
|  Ryder System, Inc. | 375 | 70740 |
|  U-Haul Holding Co. | 922 | 46930 |
|  Union Pacific Corp. | 5403 | 1277107 |
|  |  | 2802023 |
|  ***Industrial Conglomerates (0.3%)*** |  |  |
|  3M Co. | 4871 | 755882 |
|  ***Machinery (2.8%)*** |  |  |
|  AGCO Corp. | 604 | 64670 |
|  Caterpillar, Inc. | 4244 | 2025025 |
|  CNH Industrial NV | 7775 | 84359 |
|  Cummins, Inc. | 1239 | 523316 |
|  Deere & Co. | 2325 | 1063130 |
|  Dover Corp. | 1239 | 206702 |
|  Flowserve Corp. | 1119 | 59464 |
|  Fortive Corp. | 3135 | 153584 |
|  Graco, Inc. | 1490 | 126590 |
|  IDEX Corp. | 661 | 107584 |
|  Illinois Tool Works, Inc. | 2505 | 653204 |
|  Ingersoll Rand, Inc. | 3704 | 306024 |
|  Lincoln Electric Holdings, Inc. | 494 | 116500 |
|  Middleby Corp. (The)\* | 433 | 57559 |
|  PACCAR, Inc. | 4721 | 464169 |
|  Parker-Hannifin Corp. | 1151 | 872631 |
|  Pentair plc | 1530 | 169463 |
|  Snap-on, Inc. | 482 | 167027 |
|  Stanley Black & Decker, Inc. | 1358 | 100940 |
|  Tennant Co. | 204 | 16536 |
|  Timken Co. (The) | 657 | 49393 |
|  Westinghouse Air Brake Technologies Corp. | 1550 | 310728 |
|  Xylem, Inc. | 2195 | 323763 |
|  |  | 8022361 |
|  ***Passenger Airlines (0.0%)†*** |  |  |
|  Delta Air Lines, Inc. | 1435 | 81436 |
|  ***Professional Services (0.6%)*** |  |  |
|  Automatic Data Processing, Inc. | 3667 | 1076264 |
|  Broadridge Financial Solutions, Inc. | 1062 | 252937 |
|  Exponent, Inc. | 512 | 35574 |
|  Heidrick & Struggles International, Inc. | 257 | 12791 |
|  ICF International, Inc. | 170 | 15776 |
|  Jacobs Solutions, Inc. | 1088 | 163048 |
|  ManpowerGroup, Inc. | 453 | 17169 |
|  Paycom Software, Inc. | 482 | 100323 |
|  Robert Half, Inc. | 836 | 28407 |
|  TransUnion | 1753 | 146866 |
|  |  | 1849155 |
|  ***Trading Companies & Distributors (0.7%)*** |  |  |
|  Air Lease Corp., Class A | 938 | 59704 |
|  Applied Industrial Technologies, Inc. | 339 | 88496 |
|  Fastenal Co. | 10394 | 509722 |
|  Ferguson Enterprises, Inc. | 1795 | 403121 |
|  United Rentals, Inc. | 586 | 559431 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SOCIALLY RESPONSIBLE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  W.W. Grainger, Inc. | 411 | $391666 |
|  |  | 2012140 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 23184341 |
|  **Information Technology (40.8%)** |  |  |
|  ***Communications Equipment (1.2%)*** |  |  |
|  Cisco Systems, Inc. | 35954 | 2459973 |
|  F5, Inc.\* | 526 | 169998 |
|  Motorola Solutions, Inc. | 1509 | 690050 |
|  |  | 3320021 |
|  ***Electronic Equipment, Instruments & Components (0.7%)*** |  |  |
|  Cognex Corp. | 1465 | 66364 |
|  Corning, Inc. | 7332 | 601444 |
|  Flex Ltd.\* | 3335 | 193330 |
|  Itron, Inc.\* | 393 | 48952 |
|  Keysight Technologies, Inc.\* | 1562 | 273225 |
|  TE Connectivity plc | 2694 | 591414 |
|  Trimble, Inc.\* | 2172 | 177344 |
|  Zebra Technologies Corp., Class A\* | 468 | 139071 |
|  |  | 2091144 |
|  ***IT Services (1.7%)*** |  |  |
|  Accenture plc, Class A | 5636 | 1389838 |
|  Akamai Technologies, Inc.\* | 1331 | 100837 |
|  ASGN, Inc.\* | 455 | 21544 |
|  Cognizant Technology Solutions Corp., Class A | 4436 | 297523 |
|  Gartner, Inc.\* | 683 | 179540 |
|  International Business Machines Corp. | 8394 | 2368451 |
|  Okta, Inc.\* | 1499 | 137458 |
|  Twilio, Inc., Class A\* | 1325 | 132619 |
|  |  | 4627810 |
|  ***Semiconductors & Semiconductor Equipment (18.4%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 14654 | 2370871 |
|  Analog Devices, Inc. | 4484 | 1101719 |
|  Applied Materials, Inc. | 7257 | 1485798 |
|  First Solar, Inc.\* | 923 | 203549 |
|  Intel Corp.\* | 39453 | 1323648 |
|  Lam Research Corp. | 11563 | 1548286 |
|  Microchip Technology, Inc. | 4835 | 310504 |
|  NVIDIA Corp. | 220517 | 41144062 |
|  NXP Semiconductors NV | 2273 | 517630 |
|  ON Semiconductor Corp.\* | 3848 | 189745 |
|  Skyworks Solutions, Inc. | 1338 | 102999 |
|  Texas Instruments, Inc. | 8226 | 1511363 |
|  |  | 51810174 |
|  ***Software (18.1%)*** |  |  |
|  Adobe, Inc.\* | 3838 | 1353855 |
|  Atlassian Corp., Class A\* | 1480 | 236356 |
|  Autodesk, Inc.\* | 1935 | 614691 |
|  Cadence Design Systems, Inc.\* | 2461 | 864451 |
|  Dynatrace, Inc.\* | 2793 | 135321 |
|  Fair Isaac Corp.\* | 219 | 327740 |
|  Fortinet, Inc.\* | 5871 | 493634 |
|  Gen Digital, Inc. | 4888 | 138770 |
|  Guidewire Software, Inc.\* | 727 | 167108 |
|  HubSpot, Inc.\* | 455 | 212849 |
|  Intuit, Inc. | 2527 | 1725714 |
|  Microsoft Corp. | 63813 | 33051943 |
|  Oracle Corp. | 15311 | 4306066 |
|  Palo Alto Networks, Inc.\* | 6028 | 1227421 |
|  PTC, Inc.\* | 1075 | 218246 |
|  RingCentral, Inc., Class A\* | 726 | 20575 |
|  Roper Technologies, Inc. | 963 | 480238 |
|  Salesforce, Inc. | 8639 | 2047443 |
|  ServiceNow, Inc.\* | 1872 | 1722764 |
|  Synopsys, Inc.\* | 1679 | 828402 |
|  Teradata Corp.\* | 818 | 17595 |
|  Workday, Inc., Class A\* | 1935 | 465813 |
|  Zscaler, Inc.\* | 909 | 272391 |
|  |  | 50929386 |
|  ***Technology Hardware, Storage & Peripherals (0.7%)*** |  |  |
|  Dell Technologies, Inc., Class C | 2945 | 417513 |
|  Hewlett Packard Enterprise Co. | 11856 | 291183 |
|  HP, Inc. | 8485 | 231046 |
|  NetApp, Inc. | 1805 | 213820 |
|  Seagate Technology Holdings plc | 1914 | 451819 |
|  Western Digital Corp. | 3177 | 381431 |
|  Xerox Holdings Corp. | 1274 | 4790 |
|  |  | 1991602 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 114770137 |
|  **Materials (2.5%)** |  |  |
|  ***Chemicals (1.6%)*** |  |  |
|  Air Products and Chemicals, Inc. | 2022 | 551440 |
|  Albemarle Corp. | 1030 | 83512 |
|  Axalta Coating Systems Ltd.\* | 1983 | 56754 |
|  Ecolab, Inc. | 2291 | 627413 |
|  HB Fuller Co. | 498 | 29521 |
|  International Flavors & Fragrances, Inc. | 2299 | 141481 |
|  Linde plc | 4248 | 2017800 |
|  LyondellBasell Industries NV, Class A | 2385 | 116960 |
|  Minerals Technologies, Inc. | 284 | 17642 |
|  Mosaic Co. (The) | 2863 | 99289 |
|  PPG Industries, Inc. | 2078 | 218419 |
|  Sherwin-Williams Co. (The) | 2155 | 746190 |
|  |  | 4706421 |
|  ***Construction Materials (0.4%)*** |  |  |
|  CRH plc | 6081 | 729112 |
|  Martin Marietta Materials, Inc. | 547 | 344763 |
|  |  | 1073875 |
|  ***Containers & Packaging (0.2%)*** |  |  |
|  Avery Dennison Corp. | 703 | 114006 |
|  Ball Corp. | 2349 | 118437 |
|  International Paper Co. | 4551 | 211166 |
|  Sealed Air Corp. | 1373 | 48536 |
|  Sonoco Products Co. | 883 | 38048 |
|  |  | 530193 |
|  ***Metals & Mining (0.3%)*** |  |  |
|  Newmont Corp. | 9923 | 836608 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 7147097 |
|  **Real Estate (2.6%)** |  |  |
|  ***Health Care REITs (0.5%)*** |  |  |
|  Healthpeak Properties, Inc. (REIT) | 6366 | 121909 |
|  Ventas, Inc. (REIT) | 3959 | 277090 |
|  Welltower, Inc. (REIT) | 5898 | 1050670 |
|  |  | 1449669 |
|  ***Hotel & Resort REITs (0.0%)†*** |  |  |
|  Host Hotels & Resorts, Inc. (REIT) | 6499 | 110613 |
|  ***Industrial REITs (0.4%)*** |  |  |
|  Prologis, Inc. (REIT) | 8417 | 963915 |
|  ***Office REITs (0.1%)*** |  |  |
|  BXP, Inc. (REIT)(x) | 1351 | 100433 |
|  COPT Defense Properties (REIT) | 977 | 28392 |
|  |  | 128825 |
|  ***Real Estate Management & Development (0.2%)*** |  |  |
|  CBRE Group, Inc., Class A\* | 2679 | 422103 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SOCIALLY RESPONSIBLE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Jones Lang LaSalle, Inc.\* | 417 | $124383 |
|  |  | 546486 |
|  ***Residential REITs (0.2%)*** |  |  |
|  AvalonBay Communities, Inc. (REIT) | 1310 | 253052 |
|  Equity Residential (REIT) | 3127 | 202411 |
|  |  | 455463 |
|  ***Retail REITs (0.2%)*** |  |  |
|  Federal Realty Investment Trust (REIT) | 742 | 75172 |
|  Macerich Co. (The) (REIT) | 2423 | 44098 |
|  Simon Property Group, Inc. (REIT) | 2931 | 550061 |
|  |  | 669331 |
|  ***Specialized REITs (1.0%)*** |  |  |
|  American Tower Corp. (REIT) | 4220 | 811591 |
|  Crown Castle, Inc. (REIT) | 3972 | 383258 |
|  Digital Realty Trust, Inc. (REIT) | 3051 | 527457 |
|  Equinix, Inc. (REIT) | 889 | 696300 |
|  Iron Mountain, Inc. (REIT) | 2691 | 274321 |
|  SBA Communications Corp. (REIT) | 978 | 189096 |
|  |  | 2882023 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 7206325 |
|  ***Utilities (0.9%)*** |  |  |
|  Electric Utilities (0.2%) |  |  |
|  Eversource Energy | 3276 | 233055 |
|  Exelon Corp. | 9137 | 411256 |
|  |  | 644311 |
|  ***Gas Utilities (0.1%)*** |  |  |
|  Atmos Energy Corp. | 1411 | 240928 |
|  New Jersey Resources Corp. | 908 | 43720 |
|  UGI Corp. | 1950 | 64857 |
|  |  | 349505 |
|  ***Independent Power and Renewable Electricity Producers (0.0%)†*** |  |  |
|  Ormat Technologies, Inc. | 542 | 52168 |
|  Multi-Utilities (0.5%) |  |  |
|  Avista Corp. | 768 | 29038 |
|  CMS Energy Corp. | 2691 | 197143 |
|  Consolidated Edison, Inc. | 3239 | 325584 |
|  NiSource, Inc. | 4188 | 181340 |
|  Sempra | 5876 | 528723 |
|  |  | 1261828 |
|  ***Water Utilities (0.1%)*** |  |  |
|  American Water Works Co., Inc. | 1760 | 244975 |
|  Essential Utilities, Inc. | 2367 | 94443 |
|  |  | 339418 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 2647230 |
|  **Total Common Stocks (99.9%)**<br> *(Cost $86,133,326)* |  | 281041346 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.1%**) |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 158750 | 158750 |
|  **Total Short-Term Investments (0.1%)**<br> *(Cost $158,750)* |  | 158750 |
|  **Total Investments in Securities (100.0%)**<br> *(Cost $86,292,076)* |  | 281200096 |
|  **Other Assets Less Liabilities (0.0%)†** |  | (10153) |
|  **Net Assets (100%)** |  | $281189943 |

---

*\** *Non-income producing.* 

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

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

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $468,009. This was collateralized by $323,305 of various U.S. Government Treasury Securities, ranging from 0.000% – 4.875%, maturing 10/23/25 – 2/15/53 and by cash of $158,750 which was subsequently invested in investment companies.* 

*Glossary:* 

*REIT — Real Estate Investment Trust* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SOCIALLY RESPONSIBLE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/<br>Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  COMMON STOCKS: |  |  |  |  |  |  |  |  |  |
|  **Financials** |  |  |  |  |  |  |  |  |  |
|  **Capital Markets** |  |  |  |  |  |  |  |  |  |
|  BlackRock, Inc. | 1329 | 1496661 |  | (131706) | 68639 | 115847 | 1549441 | 21455 |  |
|  **Financial Services** |  |  |  |  |  |  |  |  |  |
|  Equitable Holdings, Inc. | 2812 | 146651 |  | (16030) | 8617 | 3555 | 142793 | 2228 |  |
|  **Total** |  | **1643312** |  | **(147736)** | **77256** | **119402** | **1692234** | **23683** |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

1290 VT SOCIALLY RESPONSIBLE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $28315948 | $— | $— | $28315948 |
|  Consumer Discretionary | 27141492 |  |  | 27141492 |
|  Consumer Staples | 12731917 |  |  | 12731917 |
|  Energy | 3628258 |  |  | 3628258 |
|  Financials | 33468947 |  |  | 33468947 |
|  Health Care | 20799654 |  |  | 20799654 |
|  Industrials | 23184341 |  |  | 23184341 |
|  Information Technology | 114770137 |  |  | 114770137 |
|  Materials | 7147097 |  |  | 7147097 |
|  Real Estate | 7206325 |  |  | 7206325 |
|  Utilities | 2647230 |  |  | 2647230 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 158750 |  |  | 158750 |
|  **Total Assets** | $**281200096** | $**—** | $**—** | $**281200096** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**281200096** | $**—** | $**—** | $**281200096** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $202264086 |
|  Aggregate gross unrealized depreciation | (7409504) |
|  Net unrealized appreciation | $194854582 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $86345514 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM LARGE CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (9.2%)** |  |  |
|  ***Diversified Telecommunication Services (0.6%)*** |  |  |
|  AT&T, Inc. | 318295 | $8988651 |
|  Verizon Communications, Inc. | 187687 | 8248844 |
|  |  | 17237495 |
|  ***Entertainment (1.4%)*** |  |  |
|  Electronic Arts, Inc. | 10173 | 2051894 |
|  Live Nation Entertainment, Inc.\* | 6970 | 1138898 |
|  Netflix, Inc.\* | 18915 | 22677572 |
|  Take-Two Interactive Software, Inc.\* | 7743 | 2000482 |
|  TKO Group Holdings, Inc., Class A | 2940 | 593762 |
|  Walt Disney Co. (The) | 80034 | 9163893 |
|  Warner Bros Discovery, Inc.\* | 110208 | 2152362 |
|  |  | 39778863 |
|  ***Interactive Media & Services (6.6%)*** |  |  |
|  Alphabet, Inc., Class A | 258941 | 62948557 |
|  Alphabet, Inc., Class C | 207874 | 50627713 |
|  Match Group, Inc. | 10126 | 357650 |
|  Meta Platforms, Inc., Class A | 96550 | 70904389 |
|  |  | 184838309 |
|  ***Media (0.4%)*** |  |  |
|  Charter Communications, Inc., Class A\* | 4100 | 1127931 |
|  Comcast Corp., Class A | 163936 | 5150869 |
|  Fox Corp., Class A | 9376 | 591251 |
|  Fox Corp., Class B | 5752 | 329532 |
|  Interpublic Group of Cos., Inc. (The) | 17251 | 481475 |
|  News Corp., Class A | 16547 | 508159 |
|  News Corp., Class B | 5657 | 195449 |
|  Omnicom Group, Inc. | 8989 | 732873 |
|  Paramount Skydance Corp., Class B(x) | 11634 | 220115 |
|  Trade Desk, Inc. (The), Class A\* | 19814 | 971084 |
|  |  | 10308738 |
|  ***Wireless Telecommunication Services (0.2%)*** |  |  |
|  T-Mobile US, Inc. | 21527 | 5153133 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 257316538 |
|  **Consumer Discretionary (9.6%)** |  |  |
|  ***Automobile Components (0.0%)†*** |  |  |
|  Aptiv plc\* | 9602 | 827884 |
|  ***Automobiles (2.2%)*** |  |  |
|  Ford Motor Co. | 172408 | 2062000 |
|  General Motors Co. | 42381 | 2583970 |
|  Tesla, Inc.\* | 124913 | 55551309 |
|  |  | 60197279 |
|  ***Broadline Retail (3.5%)*** |  |  |
|  Amazon.com, Inc.\* | 432015 | 94857533 |
|  eBay, Inc. | 20624 | 1875753 |
|  |  | 96733286 |
|  ***Distributors (0.1%)*** |  |  |
|  Genuine Parts Co. | 6350 | 880110 |
|  LKQ Corp. | 12088 | 369168 |
|  Pool Corp. | 1462 | 453322 |
|  |  | 1702600 |
|  ***Hotels, Restaurants & Leisure (1.7%)*** |  |  |
|  Airbnb, Inc., Class A\* | 19253 | 2337699 |
|  Booking Holdings, Inc. | 1443 | 7791147 |
|  Carnival Corp.\* | 48297 | 1396266 |
|  Chipotle Mexican Grill, Inc.\* | 59496 | 2331648 |
|  Darden Restaurants, Inc. | 5097 | 970265 |
|  Domino's Pizza, Inc. | 1453 | 627275 |
|  DoorDash, Inc., Class A\* | 16478 | 4481851 |
|  Expedia Group, Inc. | 5259 | 1124111 |
|  Hilton Worldwide Holdings, Inc. | 10571 | 2742540 |
|  Las Vegas Sands Corp. | 13750 | 739612 |
|  Marriott International, Inc., Class A | 9990 | 2601795 |
|  McDonald's Corp. | 31766 | 9653370 |
|  MGM Resorts International\* | 9286 | 321853 |
|  Norwegian Cruise Line Holdings Ltd.\* | 19782 | 487231 |
|  Royal Caribbean Cruises Ltd. | 11255 | 3641893 |
|  Starbucks Corp. | 50435 | 4266801 |
|  Wynn Resorts Ltd. | 3651 | 468314 |
|  Yum! Brands, Inc. | 12225 | 1858200 |
|  |  | 47841871 |
|  ***Household Durables (0.3%)*** |  |  |
|  DR Horton, Inc. | 12307 | 2085667 |
|  Garmin Ltd. | 7346 | 1808732 |
|  Lennar Corp., Class A | 10285 | 1296322 |
|  Mohawk Industries, Inc.\* | 2162 | 278725 |
|  NVR, Inc.\* | 126 | 1012367 |
|  PulteGroup, Inc. | 8839 | 1167897 |
|  |  | 7649710 |
|  ***Leisure Products (0.0%)†*** |  |  |
|  Hasbro, Inc. | 5954 | 451611 |
|  ***Specialty Retail (1.6%)*** |  |  |
|  AutoZone, Inc.\* | 752 | 3226260 |
|  Best Buy Co., Inc. | 8557 | 647080 |
|  CarMax, Inc.\* | 6500 | 291655 |
|  Home Depot, Inc. (The) | 44288 | 17945055 |
|  Lowe's Cos., Inc. | 24942 | 6268174 |
|  O'Reilly Automotive, Inc.\* | 37698 | 4064221 |
|  Ross Stores, Inc. | 14517 | 2212246 |
|  TJX Cos., Inc. (The) | 49661 | 7178001 |
|  Tractor Supply Co. | 23621 | 1343326 |
|  Ulta Beauty, Inc.\* | 2026 | 1107716 |
|  Williams-Sonoma, Inc. | 5379 | 1051326 |
|  |  | 45335060 |
|  ***Textiles, Apparel & Luxury Goods (0.2%)*** |  |  |
|  Deckers Outdoor Corp.\* | 6555 | 664480 |
|  Lululemon Athletica, Inc.\* | 4979 | 885914 |
|  NIKE, Inc., Class B | 53093 | 3702175 |
|  Ralph Lauren Corp. | 1702 | 533679 |
|  Tapestry, Inc. | 9386 | 1062683 |
|  |  | 6848931 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 267588232 |
|  **Consumer Staples (4.5%)** |  |  |
|  ***Beverages (0.9%)*** |  |  |
|  Brown-Forman Corp., Class B | 7962 | 215611 |
|  Coca-Cola Co. (The) | 172417 | 11434695 |
|  Constellation Brands, Inc., Class A | 6343 | 854212 |
|  Keurig Dr Pepper, Inc. | 59733 | 1523789 |
|  Molson Coors Beverage Co., Class B | 7186 | 325167 |
|  Monster Beverage Corp.\* | 31701 | 2133794 |
|  PepsiCo, Inc. | 60944 | 8558975 |
|  |  | 25046243 |
|  ***Consumer Staples Distribution & Retail (1.6%)*** |  |  |
|  Costco Wholesale Corp. | 19741 | 18272862 |
|  Dollar General Corp. | 9833 | 1016241 |
|  Dollar Tree, Inc.\* | 8906 | 840459 |
|  Kroger Co. (The) | 26921 | 1814745 |
|  Sysco Corp. | 21191 | 1744867 |
|  Target Corp. | 20335 | 1824049 |
|  Walmart, Inc. | 195092 | 20106181 |
|  |  | 45619404 |
|  ***Food Products (0.5%)*** |  |  |
|  Archer-Daniels-Midland Co. | 21340 | 1274852 |
|  Bunge Global SA | 6078 | 493837 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM LARGE CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Campbell's Co. (The)(x) | 8097 | $255703 |
|  Conagra Brands, Inc. | 19970 | 365651 |
|  General Mills, Inc. | 23441 | 1181895 |
|  Hershey Co. (The) | 6457 | 1207782 |
|  Hormel Foods Corp. | 13067 | 323277 |
|  J M Smucker Co. (The) | 4618 | 501515 |
|  Kellanova | 12181 | 999086 |
|  Kraft Heinz Co. (The) | 38278 | 996759 |
|  Lamb Weston Holdings, Inc. | 6720 | 390298 |
|  McCormick & Co., Inc. (Non- Voting) | 11333 | 758291 |
|  Mondelez International, Inc., Class A | 58273 | 3640314 |
|  Tyson Foods, Inc., Class A | 13236 | 718715 |
|  |  | 13107975 |
|  ***Household Products (0.8%)*** |  |  |
|  Church & Dwight Co., Inc. | 10859 | 951574 |
|  Clorox Co. (The) | 5233 | 645229 |
|  Colgate-Palmolive Co. | 36270 | 2899424 |
|  Kimberly-Clark Corp. | 14621 | 1817975 |
|  Procter & Gamble Co. (The) | 104269 | 16020932 |
|  |  | 22335134 |
|  ***Personal Care Products (0.1%)*** |  |  |
|  Estee Lauder Cos., Inc. (The), Class A | 10172 | 896357 |
|  Kenvue, Inc. | 87058 | 1412951 |
|  |  | 2309308 |
|  ***Tobacco (0.6%)*** |  |  |
|  Altria Group, Inc. | 74707 | 4935145 |
|  Philip Morris International, Inc. | 69291 | 11239000 |
|  |  | 16174145 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 124592209 |
|  **Energy (2.6%)** |  |  |
|  ***Energy Equipment & Services (0.2%)*** |  |  |
|  Baker Hughes Co. | 43660 | 2127115 |
|  Halliburton Co. | 39358 | 968207 |
|  Schlumberger NV | 65792 | 2261271 |
|  |  | 5356593 |
|  ***Oil, Gas & Consumable Fuels (2.4%)*** |  |  |
|  APA Corp. | 15675 | 380589 |
|  Chevron Corp.# | 85670 | 13303694 |
|  ConocoPhillips | 55596 | 5258826 |
|  Coterra Energy, Inc. | 33259 | 786575 |
|  Devon Energy Corp. | 28364 | 994442 |
|  Diamondback Energy, Inc. | 8310 | 1189161 |
|  EOG Resources, Inc. | 24450 | 2741334 |
|  EQT Corp. | 27384 | 1490511 |
|  Expand Energy Corp. | 10735 | 1140486 |
|  Exxon Mobil Corp. | 189776 | 21397244 |
|  Kinder Morgan, Inc. | 86538 | 2449891 |
|  Marathon Petroleum Corp. | 13534 | 2608543 |
|  Occidental Petroleum Corp. | 31945 | 1509401 |
|  ONEOK, Inc. | 28410 | 2073078 |
|  Phillips 66 | 17859 | 2429181 |
|  Targa Resources Corp. | 9474 | 1587274 |
|  Texas Pacific Land Corp.(x) | 849 | 792660 |
|  Valero Energy Corp. | 13829 | 2354526 |
|  Williams Cos., Inc. (The) | 54688 | 3464485 |
|  |  | 67951901 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 73308494 |
|  **Financials (12.3%)** |  |  |
|  ***Banks (3.2%)*** |  |  |
|  Bank of America Corp. | 303339 | 15649259 |
|  Citigroup, Inc. | 81947 | 8317621 |
|  Citizens Financial Group, Inc. | 19560 | 1039810 |
|  Fifth Third Bancorp | 29483 | 1313468 |
|  Huntington Bancshares, Inc. | 64094 | 1106903 |
|  JPMorgan Chase & Co. | 122404 | 38609894 |
|  KeyCorp | 41489 | 775429 |
|  M&T Bank Corp. | 6957 | 1374842 |
|  PNC Financial Services Group, Inc. (The) | 17454 | 3507032 |
|  Regions Financial Corp. | 39891 | 1051926 |
|  Truist Financial Corp. | 57129 | 2611938 |
|  US Bancorp | 70003 | 3383245 |
|  Wells Fargo & Co. | 142599 | 11952648 |
|  |  | 90694015 |
|  ***Capital Markets (3.2%)*** |  |  |
|  Ameriprise Financial, Inc. | 4144 | 2035740 |
|  Bank of New York Mellon Corp. (The) | 31394 | 3420690 |
|  BlackRock, Inc.‡ | 6411 | 7474393 |
|  Blackstone, Inc. | 32898 | 5620623 |
|  Cboe Global Markets, Inc. | 4545 | 1114661 |
|  Charles Schwab Corp. (The) | 75955 | 7251424 |
|  CME Group, Inc. | 15990 | 4320338 |
|  Coinbase Global, Inc., Class A\* | 10068 | 3397849 |
|  FactSet Research Systems, Inc. | 1692 | 484741 |
|  Franklin Resources, Inc. | 14218 | 328862 |
|  Goldman Sachs Group, Inc. (The) | 13475 | 10730816 |
|  Interactive Brokers Group, Inc., Class A | 19705 | 1355901 |
|  Intercontinental Exchange, Inc. | 25407 | 4280571 |
|  Invesco Ltd. | 19317 | 443132 |
|  KKR & Co., Inc. | 30546 | 3969453 |
|  Moody's Corp. | 6832 | 3255311 |
|  Morgan Stanley | 54005 | 8584635 |
|  MSCI, Inc. | 3417 | 1938840 |
|  Nasdaq, Inc. | 20178 | 1784744 |
|  Northern Trust Corp. | 8699 | 1170886 |
|  Raymond James Financial, Inc. | 8014 | 1383217 |
|  Robinhood Markets, Inc., Class A\* | 34453 | 4932981 |
|  S&P Global, Inc. | 13911 | 6770623 |
|  State Street Corp. | 12875 | 1493629 |
| T. Rowe Price Group, Inc. | 10011 | 1027529 |
|  |  | 88571589 |
|  ***Consumer Finance (0.6%)*** |  |  |
|  American Express Co. | 24162 | 8025650 |
|  Capital One Financial Corp. | 28467 | 6051515 |
|  Synchrony Financial | 16328 | 1160104 |
|  |  | 15237269 |
|  ***Financial Services (3.6%)*** |  |  |
|  Apollo Global Management, Inc. | 20305 | 2706047 |
|  Berkshire Hathaway, Inc., Class B\* | 81628 | 41037661 |
|  Block, Inc., Class A\* | 24437 | 1766062 |
|  Corpay, Inc.\* | 3240 | 933314 |
|  Fidelity National Information Services, Inc. | 23307 | 1536864 |
|  Fiserv, Inc.\* | 24198 | 3119848 |
|  Global Payments, Inc. | 11126 | 924348 |
|  Jack Henry & Associates, Inc. | 3173 | 472555 |
|  Mastercard, Inc., Class A | 36754 | 20906043 |
|  PayPal Holdings, Inc.\* | 42354 | 2840259 |
|  Visa, Inc., Class A | 75616 | 25813790 |
|  |  | 102056791 |
|  ***Insurance (1.7%)*** |  |  |
|  Aflac, Inc. | 21308 | 2380104 |
|  Allstate Corp. (The) | 11828 | 2538880 |
|  American International Group, Inc. | 24661 | 1936875 |
|  Aon plc, Class A | 9540 | 3401773 |
|  Arch Capital Group Ltd. | 16839 | 1527802 |
|  Arthur J Gallagher & Co. | 11496 | 3560771 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM LARGE CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Assurant, Inc. | 2132 | $461791 |
|  Brown & Brown, Inc. | 12972 | 1216644 |
|  Chubb Ltd. | 16503 | 4657972 |
|  Cincinnati Financial Corp. | 7031 | 1111601 |
|  Erie Indemnity Co., Class A | 1167 | 371293 |
|  Everest Group Ltd. | 1804 | 631815 |
|  Globe Life, Inc. | 3743 | 535137 |
|  Hartford Insurance Group, Inc. (The) | 12391 | 1652836 |
|  Loews Corp. | 7589 | 761860 |
|  Marsh & McLennan Cos., Inc. | 21821 | 4397586 |
|  MetLife, Inc. | 24720 | 2036186 |
|  Principal Financial Group, Inc. | 9085 | 753237 |
|  Progressive Corp. (The) | 26095 | 6444160 |
|  Prudential Financial, Inc. | 15519 | 1609941 |
|  Travelers Cos., Inc. (The) | 9971 | 2784103 |
|  W.R. Berkley Corp. | 13668 | 1047242 |
|  Willis Towers Watson plc | 4314 | 1490271 |
|  |  | 47309880 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 343869544 |
|  **Health Care (8.0%)** |  |  |
|  ***Biotechnology (1.4%)*** |  |  |
|  AbbVie, Inc. | 78638 | 18207843 |
|  Amgen, Inc. | 23954 | 6759819 |
|  Biogen, Inc.\* | 6555 | 918224 |
|  Gilead Sciences, Inc. | 55233 | 6130863 |
|  Incyte Corp.\* | 7099 | 602066 |
|  Moderna, Inc.\* | 16329 | 421778 |
|  Regeneron Pharmaceuticals, Inc. | 4535 | 2549895 |
|  Vertex Pharmaceuticals, Inc.\* | 11380 | 4456863 |
|  |  | 40047351 |
|  ***Health Care Equipment & Supplies (1.9%)*** |  |  |
|  Abbott Laboratories | 77476 | 10377135 |
|  Align Technology, Inc.\* | 2987 | 374032 |
|  Baxter International, Inc. | 23490 | 534867 |
|  Becton Dickinson & Co. | 12822 | 2399894 |
|  Boston Scientific Corp.\* | 65914 | 6435184 |
|  Cooper Cos., Inc. (The)\* | 8835 | 605728 |
|  Dexcom, Inc.\* | 17692 | 1190495 |
|  Edwards Lifesciences Corp.\* | 26139 | 2032830 |
|  GE HealthCare Technologies, Inc. | 20002 | 1502150 |
|  Hologic, Inc.\* | 9849 | 664709 |
|  IDEXX Laboratories, Inc.\* | 3525 | 2252087 |
|  Insulet Corp.\* | 3078 | 950271 |
|  Intuitive Surgical, Inc.\* | 15958 | 7136896 |
|  Medtronic plc | 56973 | 5426109 |
|  ResMed, Inc.(x) | 6619 | 1811819 |
|  Solventum Corp.\* | 6328 | 461944 |
|  STERIS plc | 4453 | 1101850 |
|  Stryker Corp. | 15307 | 5658539 |
|  Zimmer Biomet Holdings, Inc. | 8973 | 883840 |
|  |  | 51800379 |
|  ***Health Care Providers & Services (1.5%)*** |  |  |
|  Cardinal Health, Inc. | 10604 | 1664404 |
|  Cencora, Inc. | 8630 | 2697134 |
|  Centene Corp.\* | 20748 | 740289 |
|  Cigna Group (The) | 11995 | 3457559 |
|  CVS Health Corp. | 56924 | 4291500 |
|  DaVita, Inc.\* | 1640 | 217907 |
|  Elevance Health, Inc. | 9930 | 3208582 |
|  HCA Healthcare, Inc. | 7291 | 3107424 |
|  Henry Schein, Inc.\* | 4588 | 304506 |
|  Humana, Inc. | 5397 | 1404137 |
|  Labcorp Holdings, Inc. | 3752 | 1077049 |
|  McKesson Corp. | 5525 | 4268283 |
|  Molina Healthcare, Inc.\* | 2452 | 469215 |
|  Quest Diagnostics, Inc. | 5004 | 953662 |
|  UnitedHealth Group, Inc. | 40316 | 13921115 |
|  Universal Health Services, Inc., Class B | 2407 | 492087 |
|  |  | 42274853 |
|  ***Life Sciences Tools & Services (0.7%)*** |  |  |
|  Agilent Technologies, Inc. | 12450 | 1597957 |
|  Bio-Techne Corp. | 6671 | 371108 |
|  Charles River Laboratories International, Inc.\* | 2183 | 341552 |
|  Danaher Corp. | 28307 | 5612146 |
|  IQVIA Holdings, Inc.\* | 7437 | 1412584 |
|  Mettler-Toledo International, Inc.\* | 923 | 1133084 |
|  Revvity, Inc. | 5463 | 478832 |
|  Thermo Fisher Scientific, Inc. | 16809 | 8152701 |
|  Waters Corp.\* | 2634 | 789700 |
|  West Pharmaceutical Services, Inc. | 3292 | 863590 |
|  |  | 20753254 |
|  ***Pharmaceuticals (2.5%)*** |  |  |
|  Bristol-Myers Squibb Co. | 90322 | 4073522 |
|  Eli Lilly & Co. | 35385 | 26998755 |
|  Johnson & Johnson | 107206 | 19878136 |
|  Merck & Co., Inc. | 111187 | 9331925 |
|  Pfizer, Inc. | 252992 | 6446236 |
|  Viatris, Inc. | 52192 | 516701 |
|  Zoetis, Inc. | 19862 | 2906208 |
|  |  | 70151483 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 225027320 |
|  **Industrials (7.5%)** |  |  |
|  ***Aerospace & Defense (2.0%)*** |  |  |
|  Axon Enterprise, Inc.\* | 3495 | 2508152 |
|  Boeing Co. (The)\* | 33634 | 7259226 |
|  GE Aerospace | 47205 | 14200208 |
|  General Dynamics Corp. | 11289 | 3849549 |
|  Howmet Aerospace, Inc. | 18050 | 3541952 |
|  Huntington Ingalls Industries, Inc. | 1734 | 499236 |
|  L3Harris Technologies, Inc. | 8382 | 2559947 |
|  Lockheed Martin Corp. | 9145 | 4565275 |
|  Northrop Grumman Corp. | 5950 | 3625454 |
|  RTX Corp. | 59585 | 9970358 |
|  Textron, Inc. | 7820 | 660712 |
|  TransDigm Group, Inc. | 2522 | 3324046 |
|  |  | 56564115 |
|  ***Air Freight & Logistics (0.2%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 5376 | 711782 |
|  Expeditors International of Washington, Inc. | 6202 | 760303 |
|  FedEx Corp. | 9545 | 2250807 |
|  United Parcel Service, Inc., Class B | 32827 | 2742039 |
|  |  | 6464931 |
|  ***Building Products (0.5%)*** |  |  |
|  A.O. Smith Corp. | 5150 | 378062 |
|  Allegion plc | 3811 | 675881 |
|  Builders FirstSource, Inc.\* | 5006 | 606978 |
|  Carrier Global Corp. | 35407 | 2113798 |
|  Johnson Controls International plc | 29351 | 3227142 |
|  Lennox International, Inc. | 1393 | 737398 |
|  Masco Corp. | 9384 | 660540 |
|  Trane Technologies plc | 9864 | 4162213 |
|  |  | 12562012 |
|  ***Commercial Services & Supplies (0.5%)*** |  |  |
|  Cintas Corp. | 15382 | 3157309 |
|  Copart, Inc.\* | 40084 | 1802578 |
|  Republic Services, Inc. | 8977 | 2060042 |
|  Rollins, Inc. | 12294 | 722150 |
|  Veralto Corp. | 11289 | 1203520 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM LARGE CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Waste Management, Inc. | 16509 | $3645682 |
|  |  | 12591281 |
|  ***Construction & Engineering (0.1%)*** |  |  |
|  EMCOR Group, Inc. | 1993 | 1294533 |
|  Quanta Services, Inc. | 6588 | 2730199 |
|  |  | 4024732 |
|  ***Electrical Equipment (0.8%)*** |  |  |
|  AMETEK, Inc. | 10186 | 1914968 |
|  Eaton Corp. plc | 17329 | 6485378 |
|  Emerson Electric Co. | 25205 | 3306392 |
|  GE Vernova, Inc. | 12118 | 7451358 |
|  Generac Holdings, Inc.\* | 2526 | 422853 |
|  Hubbell, Inc., Class B | 2359 | 1015101 |
|  Rockwell Automation, Inc. | 4956 | 1732271 |
|  |  | 22328321 |
|  ***Ground Transportation (0.8%)*** |  |  |
|  CSX Corp. | 82291 | 2922153 |
|  JB Hunt Transport Services, Inc. | 3349 | 449335 |
|  Norfolk Southern Corp. | 9924 | 2981269 |
|  Old Dominion Freight Line, Inc. | 8338 | 1173824 |
|  Uber Technologies, Inc.\* | 92831 | 9094653 |
|  Union Pacific Corp. | 26399 | 6239932 |
|  |  | 22861166 |
|  ***Industrial Conglomerates (0.3%)*** |  |  |
|  3M Co. | 23695 | 3676990 |
|  Honeywell International, Inc. | 28262 | 5949151 |
|  |  | 9626141 |
|  ***Machinery (1.4%)*** |  |  |
|  Caterpillar, Inc. | 20854 | 9950486 |
|  Cummins, Inc. | 6113 | 2581948 |
|  Deere & Co. | 11217 | 5129085 |
|  Dover Corp. | 6007 | 1002148 |
|  Fortive Corp. | 14838 | 726914 |
|  IDEX Corp. | 3385 | 550943 |
|  Illinois Tool Works, Inc. | 11945 | 3114778 |
|  Ingersoll Rand, Inc. | 16100 | 1330182 |
|  Nordson Corp. | 2482 | 563290 |
|  Otis Worldwide Corp. | 17303 | 1582013 |
|  PACCAR, Inc. | 23391 | 2299803 |
|  Parker-Hannifin Corp. | 5673 | 4300985 |
|  Pentair plc | 7120 | 788611 |
|  Snap-on, Inc. | 2309 | 800138 |
|  Stanley Black & Decker, Inc. | 6576 | 488794 |
|  Westinghouse Air Brake Technologies Corp. | 7756 | 1554845 |
|  Xylem, Inc. | 10852 | 1600670 |
|  |  | 38365633 |
|  ***Passenger Airlines (0.1%)*** |  |  |
|  Delta Air Lines, Inc. | 29134 | 1653354 |
|  Southwest Airlines Co. | 23379 | 746024 |
|  United Airlines Holdings, Inc.\* | 14194 | 1369721 |
|  |  | 3769099 |
|  ***Professional Services (0.5%)*** |  |  |
|  Automatic Data Processing, Inc. | 18023 | 5289750 |
|  Broadridge Financial Solutions, Inc. | 5257 | 1252060 |
|  Dayforce, Inc.\* | 7156 | 492977 |
|  Equifax, Inc. | 5603 | 1437337 |
|  Jacobs Solutions, Inc. | 5279 | 791111 |
|  Leidos Holdings, Inc. | 5706 | 1078206 |
|  Paychex, Inc. | 14630 | 1854499 |
|  Paycom Software, Inc. | 2213 | 460614 |
|  Verisk Analytics, Inc. | 6231 | 1567159 |
|  |  | 14223713 |
|  ***Trading Companies & Distributors (0.3%)*** |  |  |
|  Fastenal Co. | 51320 | 2516733 |
|  United Rentals, Inc. | 2843 | 2714098 |
|  W.W. Grainger, Inc. | 1961 | 1868755 |
|  |  | 7099586 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 210480730 |
|  **Information Technology (31.5%)** |  |  |
|  ***Communications Equipment (0.8%)*** |  |  |
|  Arista Networks, Inc.\* | 45878 | 6684883 |
|  Cisco Systems, Inc. | 176277 | 12060872 |
|  F5, Inc.\* | 2581 | 834154 |
|  Motorola Solutions, Inc. | 7387 | 3378001 |
|  |  | 22957910 |
|  ***Electronic Equipment, Instruments & Components (0.7%)*** |  |  |
|  Amphenol Corp., Class A | 54526 | 6747593 |
|  CDW Corp. | 5808 | 925098 |
|  Corning, Inc. | 35067 | 2876546 |
|  Jabil, Inc. | 4650 | 1009840 |
|  Keysight Technologies, Inc.\* | 7677 | 1342861 |
|  TE Connectivity plc | 13265 | 2912065 |
|  Teledyne Technologies, Inc.\* | 2068 | 1211931 |
|  Trimble, Inc.\* | 10274 | 838872 |
|  Zebra Technologies Corp., Class A\* | 2349 | 698029 |
|  |  | 18562835 |
|  ***IT Services (0.8%)*** |  |  |
|  Accenture plc, Class A | 27726 | 6837232 |
|  Akamai Technologies, Inc.\* | 6427 | 486910 |
|  Cognizant Technology Solutions Corp., Class A | 21384 | 1434225 |
|  EPAM Systems, Inc.\* | 2341 | 352999 |
|  Gartner, Inc.\* | 3440 | 904273 |
|  GoDaddy, Inc., Class A\* | 6198 | 848072 |
|  International Business Machines Corp. | 41466 | 11700047 |
|  VeriSign, Inc. | 3655 | 1021828 |
|  |  | 23585586 |
|  ***Semiconductors & Semiconductor Equipment (12.5%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 72240 | 11687710 |
|  Analog Devices, Inc. | 22045 | 5416456 |
|  Applied Materials, Inc. | 35722 | 7313722 |
|  Broadcom, Inc. | 209372 | 69073916 |
|  First Solar, Inc.\* | 4672 | 1030316 |
|  Intel Corp.\* | 194089 | 6511686 |
|  KLA Corp. | 5874 | 6335696 |
|  Lam Research Corp. | 56338 | 7543658 |
|  Microchip Technology, Inc. | 24014 | 1542179 |
|  Micron Technology, Inc. | 49818 | 8335548 |
|  Monolithic Power Systems, Inc. | 2168 | 1995948 |
|  NVIDIA Corp. | 1086154 | 202654613 |
|  NXP Semiconductors NV | 11298 | 2572894 |
|  ON Semiconductor Corp.\* | 18155 | 895223 |
|  QUALCOMM, Inc. | 48010 | 7986944 |
|  Skyworks Solutions, Inc. | 6891 | 530469 |
|  Teradyne, Inc. | 7087 | 975455 |
|  Texas Instruments, Inc. | 40470 | 7435553 |
|  |  | 349837986 |
|  ***Software (10.3%)*** |  |  |
|  Adobe, Inc.\* | 18883 | 6660978 |
|  AppLovin Corp., Class A\* | 12051 | 8659126 |
|  Autodesk, Inc.\* | 9621 | 3056303 |
|  Cadence Design Systems, Inc.\* | 12090 | 4246733 |
|  Crowdstrike Holdings, Inc., Class A\* | 11058 | 5422622 |
|  Datadog, Inc., Class A\* | 14537 | 2070069 |
|  Fair Isaac Corp.\* | 1057 | 1581832 |
|  Fortinet, Inc.\* | 28531 | 2398887 |
|  Gen Digital, Inc. | 25084 | 712135 |
|  Intuit, Inc. | 12417 | 8479693 |
|  Microsoft Corp. | 330883 | 171380850 |
|  Oracle Corp. | 73770 | 20747075 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM LARGE CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Palantir Technologies, Inc., Class A\* | 101237 | $18467654 |
|  Palo Alto Networks, Inc.\* | 29842 | 6076428 |
|  PTC, Inc.\* | 5282 | 1072352 |
|  Roper Technologies, Inc. | 4812 | 2399696 |
|  Salesforce, Inc. | 42556 | 10085772 |
|  ServiceNow, Inc.\* | 9253 | 8515351 |
|  Synopsys, Inc.\* | 8318 | 4104018 |
|  Tyler Technologies, Inc.\* | 1884 | 985633 |
|  Workday, Inc., Class A\* | 9570 | 2303786 |
|  |  | 289426993 |
|  ***Technology Hardware, Storage & Peripherals (6.4%)*** |  |  |
|  Apple, Inc.# | 660611 | 168211379 |
|  Dell Technologies, Inc., Class C | 13565 | 1923110 |
|  Hewlett Packard Enterprise Co. | 58076 | 1426347 |
|  HP, Inc. | 41218 | 1122366 |
|  NetApp, Inc. | 8839 | 1047068 |
|  Seagate Technology Holdings plc | 9488 | 2239737 |
|  Super Micro Computer, Inc.(x)\* | 21911 | 1050413 |
|  Western Digital Corp. | 15680 | 1882541 |
|  |  | 178902961 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 883274271 |
|  **Materials (1.6%)** |  |  |
|  ***Chemicals (1.0%)*** |  |  |
|  Air Products and Chemicals, Inc. | 9953 | 2714382 |
|  Albemarle Corp.(x) | 5041 | 408724 |
|  CF Industries Holdings, Inc. | 7420 | 665574 |
|  Corteva, Inc. | 30384 | 2054870 |
|  Dow, Inc. | 32564 | 746693 |
|  DuPont de Nemours, Inc. | 18673 | 1454627 |
|  Eastman Chemical Co. | 5028 | 317015 |
|  Ecolab, Inc. | 11342 | 3106120 |
|  International Flavors & Fragrances, Inc. | 11676 | 718541 |
|  Linde plc | 20873 | 9914675 |
|  LyondellBasell Industries NV, Class A | 10871 | 533114 |
|  Mosaic Co. (The) | 14675 | 508929 |
|  PPG Industries, Inc. | 9911 | 1041745 |
|  Sherwin-Williams Co. (The) | 10353 | 3584830 |
|  |  | 27769839 |
|  ***Construction Materials (0.1%)*** |  |  |
|  Martin Marietta Materials, Inc. | 2651 | 1670872 |
|  Vulcan Materials Co. | 5922 | 1821726 |
|  |  | 3492598 |
|  ***Containers & Packaging (0.2%)*** |  |  |
|  Amcor plc | 103683 | 848127 |
|  Avery Dennison Corp. | 3370 | 546513 |
|  Ball Corp. | 11755 | 592687 |
|  International Paper Co. | 23434 | 1087338 |
|  Packaging Corp. of America | 4064 | 885667 |
|  Smurfit WestRock plc | 23222 | 988561 |
|  |  | 4948893 |
|  ***Metals & Mining (0.3%)*** |  |  |
|  Freeport-McMoRan, Inc. | 64293 | 2521571 |
|  Newmont Corp. | 48897 | 4122506 |
|  Nucor Corp. | 10372 | 1404680 |
|  Steel Dynamics, Inc. | 6285 | 876318 |
|  |  | 8925075 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 45136405 |
|  **Real Estate (1.8%)** |  |  |
|  ***Health Care REITs (0.3%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) | 6787 | 565628 |
|  Healthpeak Properties, Inc. (REIT) | 32051 | 613777 |
|  Ventas, Inc. (REIT) | 20141 | 1409669 |
|  Welltower, Inc. (REIT) | 29772 | 5303584 |
|  |  | 7892658 |
|  ***Hotel & Resort REITs (0.0%)†*** |  |  |
|  Host Hotels & Resorts, Inc. (REIT) | 29330 | 499196 |
|  ***Industrial REITs (0.2%)*** |  |  |
|  Prologis, Inc. (REIT) | 41163 | 4713987 |
|  ***Office REITs (0.0%)†*** |  |  |
|  BXP, Inc. (REIT) | 6518 | 484548 |
|  ***Real Estate Management & Development (0.1%)*** |  |  |
|  CBRE Group, Inc., Class A\* | 13042 | 2054898 |
|  CoStar Group, Inc.\* | 18593 | 1568691 |
|  |  | 3623589 |
|  ***Residential REITs (0.2%)*** |  |  |
|  AvalonBay Communities, Inc. (REIT) | 6284 | 1213880 |
|  Camden Property Trust (REIT) | 4945 | 528027 |
|  Equity Residential (REIT) | 15765 | 1020469 |
|  Essex Property Trust, Inc. (REIT) | 2953 | 790400 |
|  Invitation Homes, Inc. (REIT) | 25643 | 752109 |
|  Mid-America Apartment Communities, Inc. (REIT) | 5200 | 726596 |
|  UDR, Inc. (REIT) | 12992 | 484082 |
|  |  | 5515563 |
|  ***Retail REITs (0.3%)*** |  |  |
|  Federal Realty Investment Trust (REIT) | 3577 | 362386 |
|  Kimco Realty Corp. (REIT) | 31175 | 681174 |
|  Realty Income Corp. (REIT) | 40453 | 2459138 |
|  Regency Centers Corp. (REIT) | 7664 | 558705 |
|  Simon Property Group, Inc. (REIT) | 14534 | 2727596 |
|  |  | 6788999 |
|  ***Specialized REITs (0.7%)*** |  |  |
|  American Tower Corp. (REIT) | 20813 | 4002756 |
|  Crown Castle, Inc. (REIT) | 19194 | 1852029 |
|  Digital Realty Trust, Inc. (REIT) | 14181 | 2451611 |
|  Equinix, Inc. (REIT) | 4388 | 3436857 |
|  Extra Space Storage, Inc. (REIT) | 9445 | 1331178 |
|  Iron Mountain, Inc. (REIT) | 13240 | 1349686 |
|  Public Storage (REIT) | 6979 | 2015884 |
|  SBA Communications Corp. (REIT) | 4903 | 947995 |
|  VICI Properties, Inc. (REIT), Class A | 47645 | 1553704 |
|  Weyerhaeuser Co. (REIT) | 32362 | 802254 |
|  |  | 19743954 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 49262494 |
|  **Utilities (2.1%)** |  |  |
|  ***Electric Utilities (1.4%)*** |  |  |
|  Alliant Energy Corp. | 11402 | 768609 |
|  American Electric Power Co., Inc. | 23933 | 2692463 |
|  Constellation Energy Corp. | 13888 | 4570124 |
|  Duke Energy Corp. | 34503 | 4269746 |
|  Edison International | 17437 | 963917 |
|  Entergy Corp. | 19660 | 1832115 |
|  Evergy, Inc. | 10144 | 771147 |
|  Eversource Energy | 16336 | 1162143 |
|  Exelon Corp. | 44545 | 2004971 |
|  FirstEnergy Corp. | 22803 | 1044834 |
|  NextEra Energy, Inc. | 91668 | 6920017 |
|  NRG Energy, Inc. | 8495 | 1375765 |
|  PG&E Corp. | 98285 | 1482138 |
|  Pinnacle West Capital Corp. | 5470 | 490440 |
|  PPL Corp. | 33094 | 1229773 |
|  Southern Co. (The) | 48834 | 4627998 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM LARGE CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Xcel Energy, Inc. | 26345 | $2124724 |
|  |  | 38330924 |
|  ***Gas Utilities (0.0%)†*** |  |  |
|  Atmos Energy Corp. | 7114 | 1214716 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  AES Corp. (The) | 32668 | 429911 |
|  Vistra Corp. | 14177 | 2777558 |
|  |  | 3207469 |
|  ***Multi-Utilities (0.6%)*** |  |  |
|  Ameren Corp. | 12024 | 1255065 |
|  CenterPoint Energy, Inc. | 28851 | 1119419 |
|  CMS Energy Corp. | 13156 | 963808 |
|  Consolidated Edison, Inc. | 16346 | 1643100 |
|  Dominion Energy, Inc. | 38356 | 2346236 |
|  DTE Energy Co. | 9318 | 1317845 |
|  NiSource, Inc. | 20342 | 880809 |
|  Public Service Enterprise Group, Inc. | 21942 | 1831279 |
|  Sempra | 29164 | 2624177 |
|  WEC Energy Group, Inc. | 14434 | 1653992 |
|  |  | 15635730 |
|  ***Water Utilities (0.0%)†*** |  |  |
|  American Water Works Co., Inc. | 8758 | 1219026 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 59607865 |
|  **Total Common Stocks (90.7%)**<br> *(Cost $543,615,191)* |  | 2539464102 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (3.0%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 440580 | 440580 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 84208495 | 84242178 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 84682758 |
|  **Total Short-Term Investments (3.0%)**<br> *(Cost $84,669,256)* |  | 84682758 |
|  **Total Investments in Securities (93.7%)**<br> *(Cost $628,284,447)* |  | 2624146860 |
|  **Other Assets Less Liabilities (6.3%)** |  | 176928714 |
|  **Net Assets (100%)** |  | $2801075574 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM LARGE CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

*#* *All, or a portion of security held by broker as collateral for financial futures contracts, with a total collateral value of $5,316,400.* 

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

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $2,278,722. This was collateralized by $1,889,656 of various U.S. Government Treasury Securities, ranging from 0.000% – 5.375%, maturing 10/23/25 – 2/15/55 and by cash of $440,580 which was subsequently invested in investment companies.* 

*Glossary:* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM LARGE CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases<br>at**<br>**Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/<br>Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  COMMON STOCKS: |  |  |  |  |  |  |  |  |  |
|  **Financials** |  |  |  |  |  |  |  |  |  |
|  **Capital Markets** |  |  |  |  |  |  |  |  |  |
|  BlackRock, Inc. | 4713 | 5629904 |  | (797570) | 494453 | 167959 | 5494746 | 79833 |  |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation)<br>($)** |
|  **Long Contracts** |  |  |  |  |  |
|  S&P 500 E-Mini Index | 781 | 12/2025 | USD | 263148188 | 3184797 |
|  |  |  |  |  | 3184797 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM LARGE CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $257316538 | $— | $— | $257316538 |
|  Consumer Discretionary | 267588232 |  |  | 267588232 |
|  Consumer Staples | 124592209 |  |  | 124592209 |
|  Energy | 73308494 |  |  | 73308494 |
|  Financials | 343869544 |  |  | 343869544 |
|  Health Care | 225027320 |  |  | 225027320 |
|  Industrials | 210480730 |  |  | 210480730 |
|  Information Technology | 883274271 |  |  | 883274271 |
|  Materials | 45136405 |  |  | 45136405 |
|  Real Estate | 49262494 |  |  | 49262494 |
|  Utilities | 59607865 |  |  | 59607865 |
|  **Futures** | 3184797 |  |  | 3184797 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 84682758 |  |  | 84682758 |
|  **Total Assets** | $**2627331657** | $**—** | $**—** | $**2627331657** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**2627331657** | $**—** | $**—** | $**2627331657** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $2041641510 |
|  Aggregate gross unrealized depreciation | (34955351) |
|  Net unrealized appreciation | $2006686159 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $620645498 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM MID CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (1.3%)** |  |  |
|  ***Diversified Telecommunication Services (0.3%)*** |  |  |
|  Frontier Communications Parent, Inc.\* | 21686 | $809972 |
|  Iridium Communications, Inc. | 9357 | 163373 |
|  |  | 973345 |
|  ***Entertainment (0.2%)*** |  |  |
|  Warner Music Group Corp., Class A | 12721 | 433277 |
|  ***Interactive Media & Services (0.1%)*** |  |  |
|  ZoomInfo Technologies, Inc., Class A\* | 23290 | 254094 |
|  ***Media (0.7%)*** |  |  |
|  EchoStar Corp., Class A\* | 11609 | 886463 |
|  New York Times Co. (The), Class A | 14093 | 808938 |
|  Nexstar Media Group, Inc., Class A(x) | 2526 | 499492 |
|  |  | 2194893 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 3855609 |
|  **Consumer Discretionary (11.1%)** |  |  |
|  ***Automobile Components (0.7%)*** |  |  |
|  Autoliv, Inc. | 6115 | 755203 |
|  Gentex Corp. | 19081 | 539992 |
|  Goodyear Tire & Rubber Co. (The)\* | 25348 | 189603 |
|  Lear Corp. | 4636 | 466428 |
|  Visteon Corp. | 2387 | 286106 |
|  |  | 2237332 |
|  ***Automobiles (0.3%)*** |  |  |
|  Harley-Davidson, Inc.(x) | 9826 | 274145 |
|  Thor Industries, Inc. | 4646 | 481744 |
|  |  | 755889 |
|  ***Broadline Retail (0.4%)*** |  |  |
|  Macy's, Inc. | 23182 | 415653 |
|  Ollie's Bargain Outlet Holdings, Inc.\* | 5360 | 688224 |
|  |  | 1103877 |
|  ***Diversified Consumer Services (1.2%)*** |  |  |
|  Duolingo, Inc., Class A\* | 3477 | 1119038 |
|  Graham Holdings Co., Class B | 281 | 330824 |
|  Grand Canyon Education, Inc.\* | 2398 | 526409 |
|  H&R Block, Inc. | 11761 | 594754 |
|  Service Corp. International | 12370 | 1029431 |
|  |  | 3600456 |
|  ***Hotels, Restaurants & Leisure (2.6%)*** |  |  |
|  Aramark | 23203 | 890995 |
|  Boyd Gaming Corp. | 5267 | 455332 |
|  Cava Group, Inc.\* | 8690 | 524963 |
|  Choice Hotels International, Inc.(x) | 1873 | 200242 |
|  Churchill Downs, Inc. | 5955 | 577695 |
|  Hilton Grand Vacations, Inc.\* | 5480 | 229119 |
|  Hyatt Hotels Corp., Class A | 3653 | 518470 |
|  Light & Wonder, Inc.\* | 7377 | 619225 |
|  Marriott Vacations Worldwide Corp. | 2406 | 160143 |
|  Planet Fitness, Inc., Class A\* | 7377 | 765733 |
|  Texas Roadhouse, Inc., Class A | 5813 | 965830 |
|  Travel + Leisure Co. | 5752 | 342187 |
|  Vail Resorts, Inc.(x) | 3253 | 486551 |
|  Wingstop, Inc.(x) | 2455 | 617874 |
|  Wyndham Hotels & Resorts, Inc. | 6702 | 535490 |
|  |  | 7889849 |
|  ***Household Durables (1.7%)*** |  |  |
|  KB Home | 5791 | 368539 |
|  Somnigroup International, Inc. | 18433 | 1554455 |
|  Taylor Morrison Home Corp., Class A\* | 8698 | 574155 |
|  Toll Brothers, Inc. | 8574 | 1184412 |
|  TopBuild Corp.\* | 2454 | 959171 |
|  Whirlpool Corp.(x) | 4861 | 382075 |
|  |  | 5022807 |
|  ***Leisure Products (0.4%)*** |  |  |
|  Brunswick Corp. | 5663 | 358128 |
|  Mattel, Inc.\* | 28101 | 472940 |
|  Polaris, Inc. | 4654 | 270537 |
|  YETI Holdings, Inc.\* | 6954 | 230734 |
|  |  | 1332339 |
|  ***Specialty Retail (3.3%)*** |  |  |
|  Abercrombie & Fitch Co., Class A\* | 4148 | 354862 |
|  AutoNation, Inc.\* | 2329 | 509515 |
|  Bath & Body Works, Inc. | 18593 | 478956 |
|  Burlington Stores, Inc.\* | 5454 | 1388043 |
|  Chewy, Inc., Class A\* | 19496 | 788613 |
|  Dick's Sporting Goods, Inc. | 5828 | 1295098 |
|  Five Below, Inc.\* | 4811 | 744262 |
|  Floor & Decor Holdings, Inc., Class A\* | 9390 | 692043 |
|  GameStop Corp., Class A\* | 35990 | 981807 |
|  Gap, Inc. (The) | 19552 | 418217 |
|  Lithia Motors, Inc., Class A | 2248 | 710368 |
|  Murphy USA, Inc. | 1546 | 600250 |
|  Penske Automotive Group, Inc. | 1630 | 283473 |
|  RH(x)\* | 1354 | 275079 |
|  Valvoline, Inc.\* | 11220 | 402910 |
|  |  | 9923496 |
|  ***Textiles, Apparel & Luxury Goods (0.5%)*** |  |  |
|  Capri Holdings Ltd.\* | 10495 | 209060 |
|  Columbia Sportswear Co. | 1921 | 100468 |
|  Crocs, Inc.(x)\* | 4788 | 400037 |
|  PVH Corp. | 4196 | 351499 |
|  Under Armour, Inc., Class A\* | 14233 | 71023 |
|  Under Armour, Inc., Class C\* | 15124 | 73049 |
|  VF Corp.(x) | 28753 | 414906 |
|  |  | 1620042 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 33486087 |
|  **Consumer Staples (4.3%)** |  |  |
|  ***Beverages (0.5%)*** |  |  |
|  Boston Beer Co., Inc. (The), Class A\* | 657 | 138903 |
|  Celsius Holdings, Inc.\* | 13997 | 804688 |
|  Coca-Cola Consolidated, Inc. | 5257 | 615910 |
|  |  | 1559501 |
|  ***Consumer Staples Distribution & Retail (2.7%)*** |  |  |
|  Albertsons Cos., Inc., Class A | 36108 | 632251 |
|  BJ's Wholesale Club Holdings, Inc.\* | 11598 | 1081513 |
|  Casey's General Stores, Inc. | 3248 | 1836159 |
|  Maplebear, Inc.\* | 15966 | 586910 |
|  Performance Food Group Co.\* | 13638 | 1418898 |
|  Sprouts Farmers Market, Inc.\* | 8540 | 929152 |
|  US Foods Holding Corp.\* | 19695 | 1509031 |
|  |  | 7993914 |
|  ***Food Products (0.7%)*** |  |  |
|  Darling Ingredients, Inc.\* | 13863 | 427951 |
|  Flowers Foods, Inc. | 17462 | 227879 |
|  Ingredion, Inc. | 5611 | 685159 |
|  Marzetti Co. (The) | 1668 | 288214 |
|  Pilgrim's Pride Corp. | 3685 | 150053 |
|  Post Holdings, Inc.\* | 4127 | 443570 |
|  |  | 2222826 |
|  ***Personal Care Products (0.4%)*** |  |  |
|  BellRing Brands, Inc.\* | 11068 | 402322 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM MID CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Coty, Inc., Class A\* | 34276 | $138475 |
|  e.l.f. Beauty, Inc.\* | 5125 | 678960 |
|  |  | 1219757 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 12995998 |
|  **Energy (3.6%)** |  |  |
|  ***Energy Equipment & Services (0.8%)*** |  |  |
|  NOV, Inc. | 33612 | 445359 |
|  TechnipFMC plc | 35635 | 1405801 |
|  Valaris Ltd.\* | 5690 | 277501 |
|  Weatherford International plc | 6251 | 427756 |
|  |  | 2556417 |
|  ***Oil, Gas & Consumable Fuels (2.8%)*** |  |  |
|  Antero Midstream Corp. | 29636 | 576124 |
|  Antero Resources Corp.\* | 25754 | 864304 |
|  Chord Energy Corp. | 4932 | 490093 |
|  Civitas Resources, Inc.(x) | 7270 | 236275 |
|  CNX Resources Corp.(x)\* | 12367 | 397228 |
|  DT Midstream, Inc. | 8838 | 999224 |
|  HF Sinclair Corp. | 13918 | 728468 |
|  Matador Resources Co. | 10261 | 461027 |
|  Murphy Oil Corp.(x) | 11503 | 326800 |
|  Ovintiv, Inc. | 22502 | 908631 |
|  PBF Energy, Inc., Class A | 7164 | 216138 |
|  Permian Resources Corp. | 61231 | 783757 |
|  Range Resources Corp. | 20912 | 787128 |
|  Viper Energy, Inc., Class A | 14614 | 558547 |
|  |  | 8333744 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 10890161 |
|  **Financials (15.2%)** |  |  |
|  ***Banks (6.0%)*** |  |  |
|  Associated Banc-Corp. | 14033 | 360788 |
|  Bank OZK | 9321 | 475185 |
|  Cadence Bank | 16230 | 609274 |
|  Columbia Banking System, Inc. | 26332 | 677786 |
|  Comerica, Inc. | 11347 | 777496 |
|  Commerce Bancshares, Inc. | 10924 | 652818 |
|  Cullen/Frost Bankers, Inc. | 5645 | 715617 |
|  East West Bancorp, Inc. | 12190 | 1297626 |
|  First Financial Bankshares, Inc. | 10777 | 362646 |
|  First Horizon Corp. | 45387 | 1026200 |
|  Flagstar Financial, Inc. | 26433 | 305301 |
|  FNB Corp. | 31749 | 511476 |
|  Glacier Bancorp, Inc. | 10204 | 496629 |
|  Hancock Whitney Corp. | 7448 | 466319 |
|  Home BancShares, Inc. | 16169 | 457583 |
|  International Bancshares Corp. | 4728 | 325050 |
|  Old National Bancorp | 30049 | 659576 |
|  Pinnacle Financial Partners, Inc. | 6733 | 631488 |
|  Prosperity Bancshares, Inc. | 8146 | 540487 |
|  SouthState Bank Corp. | 8847 | 874703 |
|  Synovus Financial Corp. | 12193 | 598432 |
|  Texas Capital Bancshares, Inc.\* | 3992 | 337444 |
|  UMB Financial Corp. | 6256 | 740398 |
|  United Bankshares, Inc. | 12277 | 456827 |
|  Valley National Bancorp | 42884 | 454570 |
|  Webster Financial Corp. | 14601 | 867883 |
|  Western Alliance Bancorp | 9119 | 790800 |
|  Wintrust Financial Corp. | 5934 | 785899 |
|  Zions Bancorp NA | 13402 | 758285 |
|  |  | 18014586 |
|  ***Capital Markets (2.9%)*** |  |  |
|  Affiliated Managers Group, Inc. | 2497 | 595360 |
|  Carlyle Group, Inc. (The) | 22919 | 1437021 |
|  Evercore, Inc., Class A | 3388 | 1142840 |
|  Federated Hermes, Inc., Class B | 7168 | 372234 |
|  Hamilton Lane, Inc., Class A | 3708 | 499801 |
|  Houlihan Lokey, Inc., Class A | 5034 | 1033581 |
|  Janus Henderson Group plc | 11774 | 524061 |
|  Jefferies Financial Group, Inc. | 14781 | 966973 |
|  Morningstar, Inc. | 2086 | 483973 |
|  SEI Investments Co. | 8624 | 731747 |
|  Stifel Financial Corp. | 9549 | 1083525 |
|  |  | 8871116 |
|  ***Consumer Finance (0.7%)*** |  |  |
|  Ally Financial, Inc. | 25352 | 993798 |
|  FirstCash Holdings, Inc. | 3552 | 562708 |
|  SLM Corp. | 20187 | 558776 |
|  |  | 2115282 |
|  ***Financial Services (1.2%)*** |  |  |
|  Equitable Holdings, Inc.‡ | 7537 | 382729 |
|  Essent Group Ltd. | 8604 | 546870 |
|  Euronet Worldwide, Inc.\* | 3472 | 304876 |
|  MGIC Investment Corp. | 20260 | 574776 |
|  Shift4 Payments, Inc., Class A(x)\* | 5936 | 459446 |
|  Voya Financial, Inc. | 8867 | 663252 |
|  Western Union Co. (The) | 31012 | 247786 |
|  WEX, Inc.\* | 3024 | 476371 |
|  |  | 3656106 |
|  ***Insurance (3.8%)*** |  |  |
|  American Financial Group, Inc. | 6040 | 880149 |
|  Brighthouse Financial, Inc.\* | 4911 | 260676 |
|  CNO Financial Group, Inc. | 8908 | 352311 |
|  Fidelity National Financial, Inc. | 23313 | 1410203 |
|  First American Financial Corp. | 9054 | 581629 |
|  Hanover Insurance Group, Inc. (The) | 3087 | 560692 |
|  Kemper Corp. | 5380 | 277339 |
|  Kinsale Capital Group, Inc. | 1937 | 823729 |
|  Old Republic International Corp. | 19392 | 823578 |
|  Primerica, Inc. | 2900 | 805011 |
|  Reinsurance Group of America, Inc. | 5799 | 1114162 |
|  RenaissanceRe Holdings Ltd. | 4165 | 1057619 |
|  RLI Corp. | 7538 | 491628 |
|  Ryan Specialty Holdings, Inc., Class A(x) | 9887 | 557231 |
|  Selective Insurance Group, Inc. | 5282 | 428212 |
|  Unum Group | 14455 | 1124310 |
|  |  | 11548479 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.6%)*** |  |  |
|  Annaly Capital Management, Inc. (REIT) | 56299 | 1137803 |
|  Starwood Property Trust, Inc. (REIT) | 31027 | 600993 |
|  |  | 1738796 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 45944365 |
|  **Health Care (7.8%)** |  |  |
|  ***Biotechnology (2.2%)*** |  |  |
|  BioMarin Pharmaceutical, Inc.\* | 16828 | 911405 |
|  Cytokinetics, Inc.\* | 10339 | 568231 |
|  Exelixis, Inc.\* | 23556 | 972863 |
|  Halozyme Therapeutics, Inc.\* | 10217 | 749315 |
|  Neurocrine Biosciences, Inc.\* | 8637 | 1212462 |
|  Roivant Sciences Ltd.\* | 35956 | 544014 |
|  United Therapeutics Corp.\* | 3928 | 1646657 |
|  |  | 6604947 |
|  ***Health Care Equipment & Supplies (1.1%)*** |  |  |
|  Dentsply Sirona, Inc. | 17825 | 226199 |
|  Envista Holdings Corp.\* | 14752 | 300498 |
|  Globus Medical, Inc., Class A\* | 9862 | 564797 |
|  Haemonetics Corp.\* | 4224 | 205878 |
|  Lantheus Holdings, Inc.\* | 5971 | 306252 |
|  LivaNova plc\* | 4617 | 241838 |
|  Masimo Corp.\* | 4083 | 602447 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM MID CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Penumbra, Inc.\* | 3402 | $861795 |
|  |  | 3309704 |
|  ***Health Care Providers & Services (2.1%)*** |  |  |
|  Chemed Corp. | 1248 | 558780 |
|  Encompass Health Corp. | 8767 | 1113584 |
|  Ensign Group, Inc. (The) | 4946 | 854520 |
|  HealthEquity, Inc.\* | 7624 | 722527 |
|  Hims & Hers Health, Inc.(x)\* | 18083 | 1025668 |
|  Option Care Health, Inc.\* | 14224 | 394858 |
|  Tenet Healthcare Corp.\* | 7724 | 1568281 |
|  |  | 6238218 |
|  ***Health Care Technology (0.3%)*** |  |  |
|  Doximity, Inc., Class A\* | 11907 | 870997 |
|  ***Life Sciences Tools & Services (1.5%)*** |  |  |
|  Avantor, Inc.\* | 59739 | 745543 |
|  Bio-Rad Laboratories, Inc., Class A\* | 1599 | 448344 |
|  Bruker Corp. | 9868 | 320611 |
|  Illumina, Inc.\* | 13484 | 1280576 |
|  Medpace Holdings, Inc.\* | 1940 | 997470 |
|  Repligen Corp.\* | 4629 | 618758 |
|  Sotera Health Co.\* | 15426 | 242651 |
|  |  | 4653953 |
|  ***Pharmaceuticals (0.6%)*** |  |  |
|  Elanco Animal Health, Inc.(x)\* | 43502 | 876130 |
|  Jazz Pharmaceuticals plc\* | 5284 | 696431 |
|  Perrigo Co. plc | 11856 | 264033 |
|  |  | 1836594 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 23514413 |
|  **Industrials (20.8%)** |  |  |
|  ***Aerospace & Defense (2.7%)*** |  |  |
|  AeroVironment, Inc.\* | 2783 | 876339 |
|  ATI, Inc.\* | 12066 | 981448 |
|  BWX Technologies, Inc. | 8006 | 1476066 |
|  Curtiss-Wright Corp. | 3289 | 1785730 |
|  Hexcel Corp. | 6832 | 428366 |
|  Kratos Defense & Security Solutions, Inc.\* | 14640 | 1337657 |
|  Woodward, Inc. | 5262 | 1329760 |
|  |  | 8215366 |
|  ***Air Freight & Logistics (0.2%)*** |  |  |
|  GXO Logistics, Inc.\* | 10066 | 532391 |
|  ***Building Products (1.9%)*** |  |  |
|  AAON, Inc. | 5891 | 550455 |
|  Advanced Drainage Systems, Inc. | 6249 | 866736 |
|  Carlisle Cos., Inc. | 3734 | 1228337 |
|  Fortune Brands Innovations, Inc. | 10462 | 558566 |
|  Owens Corning | 7326 | 1036336 |
|  Simpson Manufacturing Co., Inc. | 3616 | 605535 |
|  Trex Co., Inc.\* | 9289 | 479963 |
|  UFP Industries, Inc. | 5158 | 482221 |
|  |  | 5808149 |
|  ***Commercial Services & Supplies (1.5%)*** |  |  |
|  Brink's Co. (The) | 3668 | 428643 |
|  Clean Harbors, Inc.\* | 4463 | 1036398 |
|  MSA Safety, Inc. | 3181 | 547355 |
|  RB Global, Inc. | 16262 | 1762150 |
|  Tetra Tech, Inc. | 23035 | 768908 |
|  |  | 4543454 |
|  ***Construction & Engineering (2.5%)*** |  |  |
|  AECOM | 11607 | 1514365 |
|  API Group Corp.\* | 32631 | 1121527 |
|  Comfort Systems USA, Inc. | 3079 | 2540729 |
|  Fluor Corp.\* | 14167 | 596006 |
|  MasTec, Inc.\* | 5392 | 1147472 |
|  Valmont Industries, Inc. | 1733 | 671936 |
|  |  | 7592035 |
|  ***Electrical Equipment (1.6%)*** |  |  |
|  Acuity, Inc. | 2668 | 918832 |
|  EnerSys | 3250 | 367120 |
|  NEXTracker, Inc., Class A\* | 12762 | 944260 |
|  nVent Electric plc | 14090 | 1389838 |
|  Regal Rexnord Corp. | 5827 | 835825 |
|  Sensata Technologies Holding plc | 12741 | 389238 |
|  |  | 4845113 |
|  ***Ground Transportation (1.3%)*** |  |  |
|  Avis Budget Group, Inc.(x)\* | 1491 | 239417 |
|  Knight-Swift Transportation Holdings, Inc., Class A | 14174 | 560015 |
|  Landstar System, Inc. | 2907 | 356282 |
|  Ryder System, Inc. | 3612 | 681367 |
|  Saia, Inc.\* | 2330 | 697509 |
|  XPO, Inc.\* | 10318 | 1333808 |
|  |  | 3868398 |
|  ***Machinery (4.6%)*** |  |  |
|  AGCO Corp. | 5505 | 589420 |
|  Chart Industries, Inc.\* | 3873 | 775181 |
|  CNH Industrial NV | 79761 | 865407 |
|  Crane Co. | 4299 | 791618 |
|  Donaldson Co., Inc. | 9784 | 800820 |
|  Esab Corp. | 4935 | 551437 |
|  Flowserve Corp. | 11385 | 604999 |
|  Graco, Inc. | 14147 | 1201929 |
|  ITT, Inc. | 6769 | 1210026 |
|  Lincoln Electric Holdings, Inc. | 4856 | 1145191 |
|  Middleby Corp. (The)\* | 4012 | 533315 |
|  Mueller Industries, Inc. | 9789 | 989766 |
|  Oshkosh Corp. | 5608 | 727358 |
|  RBC Bearings, Inc.\* | 2808 | 1095934 |
|  Terex Corp. | 5863 | 300772 |
|  Timken Co. (The) | 5516 | 414693 |
|  Toro Co. (The) | 8550 | 651510 |
|  Watts Water Technologies, Inc., Class A | 2375 | 663290 |
|  |  | 13912666 |
|  ***Marine Transportation (0.1%)*** |  |  |
|  Kirby Corp.\* | 4927 | 411158 |
|  Passenger Airlines (0.4%) |  |  |
|  Alaska Air Group, Inc.\* | 9970 | 496306 |
|  American Airlines Group, Inc.\* | 58632 | 659024 |
|  |  | 1155330 |
|  ***Professional Services (2.4%)*** |  |  |
|  CACI International, Inc., Class A\* | 1928 | 961648 |
|  Concentrix Corp.(x) | 3819 | 176247 |
|  ExlService Holdings, Inc.\* | 14057 | 618930 |
|  Exponent, Inc. | 4323 | 300362 |
|  FTI Consulting, Inc.\* | 2782 | 449710 |
|  Genpact Ltd. | 14207 | 595131 |
|  Insperity, Inc. | 3127 | 153848 |
|  KBR, Inc. | 11310 | 534850 |
|  Maximus, Inc. | 4897 | 447439 |
|  Parsons Corp.(x)\* | 4608 | 382095 |
|  Paylocity Holding Corp.\* | 3896 | 620516 |
|  Science Applications International Corp. | 4150 | 412386 |
|  TransUnion | 16715 | 1400383 |
|  |  | 7053545 |
|  ***Trading Companies & Distributors (1.6%)*** |  |  |
|  Applied Industrial Technologies, Inc. | 3357 | 876345 |
|  Core & Main, Inc., Class A\* | 16685 | 898154 |
|  GATX Corp. | 3071 | 536811 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM MID CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  MSC Industrial Direct Co., Inc., Class A | 3811 | $351145 |
|  Watsco, Inc. | 3056 | 1235541 |
|  WESCO International, Inc. | 4218 | 892107 |
|  |  | 4790103 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 62727708 |
|  **Information Technology (12.0%)** |  |  |
|  ***Communications Equipment (0.9%)*** |  |  |
|  Ciena Corp.\* | 12293 | 1790722 |
|  Lumentum Holdings, Inc.(x)\* | 6134 | 998063 |
|  |  | 2788785 |
|  ***Electronic Equipment, Instruments & Components (3.2%)*** |  |  |
|  Arrow Electronics, Inc.\* | 4508 | 545468 |
|  Avnet, Inc. | 7386 | 386140 |
|  Belden, Inc. | 3411 | 410241 |
|  Cognex Corp. | 14609 | 661788 |
|  Coherent Corp.\* | 13653 | 1470701 |
|  Crane NXT Co. | 4329 | 290346 |
|  Fabrinet\* | 3195 | 1164961 |
|  Flex Ltd.\* | 32597 | 1889648 |
|  IPG Photonics Corp.\* | 2250 | 178178 |
|  Littelfuse, Inc. | 2227 | 576815 |
|  Novanta, Inc.\* | 3156 | 316073 |
|  TD SYNNEX Corp. | 6732 | 1102365 |
|  Vontier Corp. | 12989 | 545148 |
|  |  | 9537872 |
|  ***IT Services (1.2%)*** |  |  |
|  ASGN, Inc.\* | 3813 | 180545 |
|  Kyndryl Holdings, Inc.\* | 20289 | 609279 |
|  Okta, Inc.\* | 14924 | 1368531 |
|  Twilio, Inc., Class A\* | 13422 | 1343408 |
|  |  | 3501763 |
|  ***Semiconductors & Semiconductor Equipment (2.5%)*** |  |  |
|  Allegro MicroSystems, Inc.\* | 11000 | 321200 |
|  Amkor Technology, Inc. | 10069 | 285960 |
|  Cirrus Logic, Inc.\* | 4410 | 552529 |
|  Entegris, Inc. | 13262 | 1226204 |
|  Lattice Semiconductor Corp.\* | 11944 | 875734 |
|  MACOM Technology Solutions Holdings, Inc.\* | 5503 | 685068 |
|  MKS, Inc. | 5888 | 728758 |
|  Onto Innovation, Inc.\* | 4277 | 552674 |
|  Power Integrations, Inc. | 4786 | 192445 |
|  Rambus, Inc.\* | 9393 | 978751 |
|  Silicon Laboratories, Inc.\* | 2843 | 372802 |
|  Synaptics, Inc.\* | 3420 | 233723 |
|  Universal Display Corp. | 3851 | 553119 |
|  |  | 7558967 |
|  ***Software (3.5%)*** |  |  |
|  Appfolio, Inc., Class A\* | 1999 | 551044 |
|  BILL Holdings, Inc.\* | 7880 | 417404 |
|  Blackbaud, Inc.\* | 3136 | 201676 |
|  Commvault Systems, Inc.\* | 3901 | 736431 |
|  Docusign, Inc.\* | 17601 | 1268856 |
|  Dolby Laboratories, Inc., Class A | 5119 | 370462 |
|  Dropbox, Inc., Class A\* | 16227 | 490218 |
|  Dynatrace, Inc.\* | 26353 | 1276803 |
|  Guidewire Software, Inc.\* | 7355 | 1690620 |
|  Manhattan Associates, Inc.\* | 5275 | 1081270 |
|  Nutanix, Inc., Class A\* | 23279 | 1731725 |
|  Pegasystems, Inc. | 8026 | 461495 |
|  Qualys, Inc.\* | 2989 | 395534 |
|  |  | 10673538 |
|  ***Technology Hardware, Storage & Peripherals (0.7%)*** |  |  |
|  Pure Storage, Inc., Class A\* | 27119 | 2272843 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 36333768 |
|  **Materials (4.9%)** |  |  |
|  ***Chemicals (1.3%)*** |  |  |
|  Ashland, Inc. | 3874 | 185603 |
|  Avient Corp. | 7901 | 260338 |
|  Axalta Coating Systems Ltd.\* | 18882 | 540403 |
|  Cabot Corp. | 4645 | 353252 |
|  NewMarket Corp. | 676 | 559870 |
|  Olin Corp. | 9709 | 242628 |
|  RPM International, Inc. | 11253 | 1326504 |
|  Scotts Miracle-Gro Co. (The) | 3860 | 219827 |
|  Westlake Corp. | 2891 | 222780 |
|  |  | 3911205 |
|  ***Construction Materials (0.4%)*** |  |  |
|  Eagle Materials, Inc. | 2845 | 662999 |
|  Knife River Corp.\* | 5049 | 388117 |
|  |  | 1051116 |
|  ***Containers & Packaging (1.0%)*** |  |  |
|  AptarGroup, Inc. | 5773 | 771619 |
|  Crown Holdings, Inc. | 10183 | 983576 |
|  Graphic Packaging Holding Co. | 26844 | 525337 |
|  Greif, Inc., Class A | 2397 | 143245 |
|  Silgan Holdings, Inc. | 7534 | 324037 |
|  Sonoco Products Co. | 8585 | 369928 |
|  |  | 3117742 |
|  ***Metals & Mining (2.0%)*** |  |  |
|  Alcoa Corp. | 22781 | 749267 |
|  Carpenter Technology Corp. | 4370 | 1073010 |
|  Cleveland-Cliffs, Inc.\* | 43570 | 531554 |
|  Commercial Metals Co. | 9704 | 555845 |
|  MP Materials Corp.\* | 11777 | 789883 |
|  Reliance, Inc. | 4603 | 1292661 |
|  Royal Gold, Inc. | 5660 | 1135283 |
|  |  | 6127503 |
|  ***Paper & Forest Products (0.2%)*** |  |  |
|  Louisiana-Pacific Corp. | 5506 | 489153 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 14696719 |
|  **Real Estate (6.0%)** |  |  |
|  ***Diversified REITs (0.4%)*** |  |  |
|  WP Carey, Inc. (REIT) | 19179 | 1295925 |
|  ***Health Care REITs (0.7%)*** |  |  |
|  Healthcare Realty Trust, Inc. (REIT), Class A | 30214 | 544758 |
|  Omega Healthcare Investors, Inc. (REIT) | 25653 | 1083070 |
|  Sabra Health Care REIT, Inc. (REIT) | 21484 | 400462 |
|  |  | 2028290 |
|  ***Hotel & Resort REITs (0.1%)*** |  |  |
|  Park Hotels & Resorts, Inc. (REIT)(x) | 18367 | 203506 |
|  ***Industrial REITs (0.9%)*** |  |  |
|  EastGroup Properties, Inc. (REIT) | 4609 | 780119 |
|  First Industrial Realty Trust, Inc. (REIT) | 11332 | 583258 |
|  Rexford Industrial Realty, Inc. (REIT) | 20125 | 827339 |
|  STAG Industrial, Inc. (REIT) | 16312 | 575651 |
|  |  | 2766367 |
|  ***Office REITs (0.6%)*** |  |  |
|  COPT Defense Properties (REIT) | 9337 | 271333 |
|  Cousins Properties, Inc. (REIT) | 14215 | 411382 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM MID CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Kilroy Realty Corp. (REIT)(x) | 9335 | $394404 |
|  Vornado Realty Trust (REIT) | 14219 | 576296 |
|  |  | 1653415 |
|  ***Real Estate Management & Development (0.4%)*** |  |  |
|  Jones Lang LaSalle, Inc.\* | 4152 | 1238459 |
|  ***Residential REITs (0.8%)*** |  |  |
|  American Homes 4 Rent (REIT), Class A | 28760 | 956270 |
|  Equity LifeStyle Properties, Inc. (REIT) | 17046 | 1034692 |
|  Independence Realty Trust, Inc. (REIT) | 20538 | 336618 |
|  |  | 2327580 |
|  ***Retail REITs (0.8%)*** |  |  |
|  Agree Realty Corp. (REIT) | 9519 | 676229 |
|  Brixmor Property Group, Inc. (REIT) | 26875 | 743900 |
|  Kite Realty Group Trust (REIT) | 18746 | 418036 |
|  NNN REIT, Inc. (REIT) | 16463 | 700830 |
|  |  | 2538995 |
|  ***Specialized REITs (1.3%)*** |  |  |
|  CubeSmart (REIT) | 19886 | 808565 |
|  EPR Properties (REIT) | 6627 | 384432 |
|  Gaming and Leisure Properties, Inc. (REIT) | 24702 | 1151360 |
|  Lamar Advertising Co. (REIT), Class A | 7675 | 939574 |
|  National Storage Affiliates Trust (REIT) | 6219 | 187938 |
|  PotlatchDeltic Corp. (REIT) | 6128 | 249716 |
|  Rayonier, Inc. (REIT) | 12279 | 325885 |
|  |  | 4047470 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 18100007 |
|  **Utilities (3.2%)** |  |  |
|  ***Electric Utilities (0.9%)*** |  |  |
|  ALLETE, Inc. | 4840 | 321376 |
|  IDACORP, Inc. | 4769 | 630223 |
|  OGE Energy Corp. | 18458 | 854052 |
|  Portland General Electric Co. | 9774 | 430056 |
|  TXNM Energy, Inc. | 8434 | 476943 |
|  |  | 2712650 |
|  ***Gas Utilities (1.0%)*** |  |  |
|  National Fuel Gas Co. | 8050 | 743579 |
|  New Jersey Resources Corp. | 8955 | 431183 |
|  ONE Gas, Inc. | 5215 | 422102 |
|  Southwest Gas Holdings, Inc. | 5476 | 428990 |
|  Spire, Inc. | 5183 | 422518 |
|  UGI Corp. | 19182 | 637993 |
|  |  | 3086365 |
|  ***Independent Power and Renewable Electricity Producers (0.8%)*** |  |  |
|  Ormat Technologies, Inc. | 5185 | 499056 |
|  Talen Energy Corp.\* | 4008 | 1704923 |
|  |  | 2203979 |
|  ***Multi-Utilities (0.2%)*** |  |  |
|  Black Hills Corp. | 6229 | 383644 |
|  Northwestern Energy Group, Inc. | 5304 | 310868 |
|  |  | 694512 |
|  ***Water Utilities (0.3%)*** |  |  |
|  Essential Utilities, Inc. | 24028 | 958717 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 9656223 |
|  **Total Common Stocks (90.2%)**<br> *(Cost $177,645,110)* |  | 272201058 |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (0.1%)** |  |  |
|  iShares Core S&P Mid-Cap ETF | 7393 | 482467 |
|  **Total Exchange Traded Funds (0.1%)<br>(***Cost $476,417)* |  | 482467 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (6.2%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 1499325 | 1499325 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 17088807 | 17095642 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 18594967 |
|  **Total Short-Term Investments (6.2%)**<br> *(Cost $18,591,914)* |  | 18594967 |
|  **Total Investments in Securities (96.5%)**<br> *(Cost $196,713,441)* |  | 291278492 |
|  **Other Assets Less Liabilities (3.5%)** |  | 10415429 |
|  **Net Assets (100%)** |  | $301693921 |

---

*\** *Non-income producing.* 

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

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $6,701,531. This was collateralized by $5,451,285 of various U.S. Government Treasury Securities, ranging from 0.000% – 4.875%, maturing 10/9/25 – 5/15/55 and by cash of $1,499,325 which was subsequently invested in investment companies.* 

*Glossary:* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM MID CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases<br>at<br>Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain**<br>**Distributions**<br>**($)** |
|  COMMON STOCKS: |  |  |  |  |  |  |  |  |  |
|  **Financials** |  |  |  |  |  |  |  |  |  |
|  **Financial Services** |  |  |  |  |  |  |  |  |  |
|  Equitable Holdings, Inc. | 7537 | 379294 | 32667 | (63515) | 13691 | 20592 | 382729 | 6243 |  |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  S&P Midcap 400 E-Mini Index | 88 | 12/2025 | USD | 28918560 | (345796) |
|  |  |  |  |  | (345796) |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM MID CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $3855609 | $— | $— | $3855609 |
|  Consumer Discretionary | 33486087 |  |  | 33486087 |
|  Consumer Staples | 12995998 |  |  | 12995998 |
|  Energy | 10890161 |  |  | 10890161 |
|  Financials | 45944365 |  |  | 45944365 |
|  Health Care | 23514413 |  |  | 23514413 |
|  Industrials | 62727708 |  |  | 62727708 |
|  Information Technology | 36333768 |  |  | 36333768 |
|  Materials | 14696719 |  |  | 14696719 |
|  Real Estate | 18100007 |  |  | 18100007 |
|  Utilities | 9656223 |  |  | 9656223 |
|  **Exchange Traded Funds** | 482467 |  |  | 482467 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 18594967 |  |  | 18594967 |
|  **Total Assets** | $**291278492** | $**—** | $**—** | $**291278492** |
|  **Liabilities:** |  |  |  |  |
|  **Futures** | $(345796) | $— | $— | $(345796) |
|  **Total Liabilities** | $**(345796)** | $**—** | $**—** | $**(345796)** |
|  **Total** | $**290932696** | $**—** | $**—** | $**290932696** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $111468923 |
|  Aggregate gross unrealized depreciation | (15901324) |
|  Net unrealized appreciation | $95567599 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $195365097 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (2.5%)** |  |  |
|  ***Diversified Telecommunication Services (0.4%)*** |  |  |
|  Anterix, Inc.\* | 4135 | $88778 |
|  ATN International, Inc. | 4146 | 62066 |
|  Bandwidth, Inc., Class A\* | 7440 | 124025 |
|  Cogent Communications Holdings, Inc.(x) | 13052 | 500544 |
|  Globalstar, Inc.(x)\* | 15934 | 579838 |
|  IDT Corp., Class B | 5183 | 271123 |
|  Liberty Latin America Ltd., Class A\* | 11021 | 91364 |
|  Liberty Latin America Ltd., Class C\* | 40967 | 345762 |
|  Lumen Technologies, Inc.\* | 298530 | 1827004 |
|  Shenandoah Telecommunications Co. | 16503 | 221470 |
|  Uniti Group, Inc.(x) | 44101 | 269898 |
|  |  | 4381872 |
|  ***Entertainment (0.5%)*** |  |  |
|  AMC Entertainment Holdings, Inc., Class A(x)\* | 137312 | 398205 |
|  Atlanta Braves Holdings, Inc., Class A\* | 2550 | 115949 |
|  Atlanta Braves Holdings, Inc., Class C\* | 13719 | 570573 |
|  Cinemark Holdings, Inc. | 32270 | 904205 |
|  CuriosityStream, Inc. | 7412 | 39284 |
|  Eventbrite, Inc., Class A\* | 33069 | 83334 |
|  Gaia, Inc., Class A\* | 3563 | 21093 |
|  Golden Matrix Group, Inc.(x)\* | 8475 | 9577 |
|  IMAX Corp.\* | 13481 | 441503 |
|  Lionsgate Studios Corp.\* | 61226 | 422459 |
|  Madison Square Garden Entertainment Corp., Class A\* | 12787 | 578484 |
|  Marcus Corp. (The) | 7665 | 118884 |
|  Playstudios, Inc.\* | 24139 | 23236 |
|  Playtika Holding Corp. | 25992 | 101109 |
|  Reservoir Media, Inc.(x)\* | 8741 | 71152 |
|  Sphere Entertainment Co.(x)\* | 8928 | 554607 |
|  Starz Entertainment Corp. | 3319 | 48889 |
|  Vivid Seats, Inc., Class A\* | 1267 | 21057 |
|  |  | 4523600 |
|  ***Interactive Media & Services (0.6%)*** |  |  |
|  Angi, Inc., Class A\* | 12987 | 211169 |
|  Arena Group Holdings, Inc. (The)\* | 2884 | 15775 |
|  Bumble, Inc., Class A\* | 16111 | 98116 |
|  Cargurus, Inc., Class A\* | 25948 | 966044 |
|  Cars.com, Inc.\* | 18649 | 227891 |
|  EverQuote, Inc., Class A\* | 8046 | 184012 |
|  fuboTV, Inc.(x)\* | 106921 | 443722 |
|  Getty Images Holdings, Inc.(x)\* | 43672 | 86470 |
|  Grindr, Inc.\* | 10192 | 153084 |
|  MediaAlpha, Inc., Class A\* | 10287 | 117066 |
|  Nextdoor Holdings, Inc.\* | 66700 | 139403 |
|  QuinStreet, Inc.\* | 18057 | 279342 |
|  Rumble, Inc.(x)\* | 30817 | 223115 |
|  Shutterstock, Inc. | 7759 | 161775 |
|  Teads Holding Co.(x)\* | 10844 | 17893 |
|  Travelzoo\* | 1404 | 13801 |
|  TripAdvisor, Inc.(x)\* | 36703 | 596791 |
|  TrueCar, Inc.\* | 28020 | 51557 |
|  Vimeo, Inc.\* | 42327 | 328034 |
|  Webtoon Entertainment, Inc.(x)\* | 7588 | 147283 |
|  Yelp, Inc., Class A\* | 19639 | 612737 |
|  Ziff Davis, Inc.\* | 13191 | 502577 |
|  ZipRecruiter, Inc., Class A\* | 21301 | 89890 |
|  |  | 5667547 |
|  ***Media (0.9%)*** |  |  |
|  Advantage Solutions, Inc.(x)\* | 39903 | 61052 |
|  Altice USA, Inc., Class A\* | 84947 | 204722 |
|  AMC Networks, Inc., Class A\* | 12594 | 103775 |
|  Boston Omaha Corp., Class A(x)\* | 7504 | 98152 |
|  Cable One, Inc. | 1742 | 308421 |
|  EchoStar Corp., Class A(x)\* | 43128 | 3293254 |
|  Emerald Holding, Inc.(x) | 10478 | 53333 |
|  Entravision Communications Corp., Class A | 25751 | 60000 |
|  EW Scripps Co. (The), Class A\* | 14874 | 36590 |
|  Gambling.com Group Ltd.\* | 6753 | 55240 |
|  Gannett Co., Inc.\* | 44863 | 185284 |
|  Gray Media, Inc. | 27609 | 159580 |
|  Ibotta, Inc., Class A(x)\* | 4531 | 126188 |
|  iHeartMedia, Inc., Class A\* | 25642 | 73593 |
|  Integral Ad Science Holding Corp.\* | 23859 | 242646 |
|  John Wiley & Sons, Inc., Class A | 12783 | 517328 |
|  Magnite, Inc.\* | 43915 | 956469 |
|  National CineMedia, Inc. | 19896 | 89731 |
|  Newsmax, Inc., Class B\* | 5455 | 67642 |
|  Nexxen International Ltd.\* | 8749 | 80928 |
|  PubMatic, Inc., Class A\* | 9784 | 81011 |
|  Scholastic Corp. | 4380 | 119924 |
|  Sinclair, Inc. | 12079 | 182393 |
|  Stagwell, Inc., Class A(x)\* | 34925 | 196628 |
|  TechTarget, Inc.(x)\* | 9320 | 54149 |
|  TEGNA, Inc. | 50808 | 1032927 |
|  Thryv Holdings, Inc.\* | 11929 | 143864 |
|  WideOpenWest, Inc.\* | 17475 | 90171 |
|  |  | 8674995 |
|  ***Wireless Telecommunication Services (0.1%)*** |  |  |
|  Gogo, Inc.\* | 23187 | 199176 |
|  Spok Holdings, Inc. | 6131 | 105760 |
|  Telephone and Data Systems, Inc. | 31658 | 1242260 |
|  |  | 1547196 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 24795210 |
|  **Consumer Discretionary (8.9%)** |  |  |
|  ***Automobile Components (1.2%)*** |  |  |
|  Adient plc\* | 25879 | 623166 |
|  American Axle & Manufacturing Holdings, Inc.\* | 39997 | 240382 |
|  Cooper-Standard Holdings, Inc.\* | 5425 | 200345 |
|  Dana, Inc. | 41841 | 838494 |
|  Dorman Products, Inc.\* | 8721 | 1359429 |
|  Fox Factory Holding Corp.\* | 13496 | 327818 |
|  Garrett Motion, Inc. | 42020 | 572312 |
|  Gentherm, Inc.\* | 9940 | 338556 |
|  Goodyear Tire & Rubber Co. (The)\* | 79412 | 594002 |
|  Holley, Inc.\* | 11547 | 36258 |
|  LCI Industries | 7778 | 724521 |
|  Luminar Technologies, Inc., Class A(x)\* | 9118 | 17415 |
|  Modine Manufacturing Co.\* | 16596 | 2359287 |
|  Motorcar Parts of America, Inc.\* | 2805 | 46395 |
|  Patrick Industries, Inc.(x) | 10346 | 1070087 |
|  Phinia, Inc. | 12149 | 698325 |
|  Solid Power, Inc.\* | 46088 | 159925 |
|  Standard Motor Products, Inc. | 7218 | 294639 |
|  Strattec Security Corp.\* | 887 | 60369 |
|  Visteon Corp. | 8752 | 1049015 |
|  XPEL, Inc.(m)\* | 7625 | 252159 |
|  |  | 11862899 |
|  ***Automobiles (0.0%)†*** |  |  |
|  Faraday Future Intelligent Electric, Inc., Class A(x)\* | 19785 | 25720 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Livewire Group, Inc.(x)\* | 19112 | $90782 |
|  Winnebago Industries, Inc. | 8825 | 295108 |
|  |  | 411610 |
|  ***Broadline Retail (0.1%)*** |  |  |
|  Groupon, Inc.(x)\* | 7802 | 182176 |
|  Kohl's Corp. | 34756 | 534200 |
|  Savers Value Village, Inc.(x)\* | 12396 | 164247 |
|  |  | 880623 |
|  ***Distributors (0.1%)*** |  |  |
|  A-Mark Precious Metals, Inc. | 6018 | 155686 |
|  GigaCloud Technology, Inc., Class A\* | 8095 | 229898 |
|  Weyco Group, Inc. | 1872 | 56328 |
|  |  | 441912 |
|  ***Diversified Consumer Services (1.2%)*** |  |  |
|  Adtalem Global Education, Inc.\* | 11023 | 1702502 |
|  American Public Education, Inc.\* | 5746 | 226795 |
|  Carriage Services, Inc., Class A | 4504 | 200608 |
|  Coursera, Inc.\* | 44566 | 521868 |
|  European Wax Center, Inc., Class A\* | 12780 | 50992 |
|  Frontdoor, Inc.\* | 23547 | 1584478 |
|  Graham Holdings Co., Class B | 1030 | 1212629 |
|  KinderCare Learning Cos., Inc.\* | 9910 | 65803 |
|  Laureate Education, Inc.\* | 40323 | 1271788 |
|  Lincoln Educational Services Corp.\* | 10299 | 242027 |
|  Matthews International Corp., Class A(x) | 9845 | 239037 |
|  McGraw Hill, Inc.\* | 4597 | 57692 |
|  Mister Car Wash, Inc.\* | 21964 | 117068 |
|  Nerdy, Inc.(x)\* | 19763 | 24901 |
|  OneSpaWorld Holdings Ltd. | 29060 | 614328 |
|  Perdoceo Education Corp. | 19493 | 734106 |
|  Strategic Education, Inc. | 7248 | 623401 |
|  Stride, Inc.\* | 13548 | 2017839 |
|  Udemy, Inc.\* | 31235 | 218957 |
|  Universal Technical Institute, Inc.\* | 14555 | 473765 |
|  Zspace, Inc.\* | 1077 | 1055 |
|  |  | 12201639 |
|  ***Hotels, Restaurants & Leisure (1.6%)*** |  |  |
|  Accel Entertainment, Inc., Class A\* | 18436 | 204086 |
|  Bally's Corp.\* | 1560 | 17316 |
|  Biglari Holdings, Inc., Class B\* | 161 | 52108 |
|  BJ's Restaurants, Inc.\* | 6875 | 209894 |
|  Bloomin' Brands, Inc. | 26621 | 190872 |
|  Brightstar Lottery plc(x) | 36376 | 627486 |
|  Brinker International, Inc.\* | 14061 | 1781247 |
|  Cheesecake Factory, Inc. (The)(x) | 14879 | 812988 |
|  Cracker Barrel Old Country Store, Inc.(x) | 7179 | 316307 |
|  Dave & Buster's Entertainment, Inc.(x)\* | 6079 | 110395 |
|  Denny's Corp.\* | 10939 | 57211 |
|  Dine Brands Global, Inc. | 3502 | 86569 |
|  El Pollo Loco Holdings, Inc.\* | 8167 | 79220 |
|  First Watch Restaurant Group, Inc.\* | 13573 | 212282 |
|  Genius Sports Ltd.\* | 69686 | 862713 |
|  Global Business Travel Group I\* | 34405 | 277992 |
|  Golden Entertainment, Inc. | 6340 | 149497 |
|  Hilton Grand Vacations, Inc.\* | 18029 | 753792 |
|  Inspired Entertainment, Inc.\* | 6729 | 63118 |
|  Jack in the Box, Inc.(x) | 6064 | 119885 |
|  Krispy Kreme, Inc. | 27709 | 107234 |
|  Kura Sushi USA, Inc., Class A\* | 1563 | 92858 |
|  Life Time Group Holdings, Inc.\* | 43172 | 1191547 |
|  Lindblad Expeditions Holdings, Inc.\* | 9156 | 117197 |
|  Marriott Vacations Worldwide Corp. | 9121 | 607094 |
|  Monarch Casino & Resort, Inc. | 3802 | 402404 |
|  Nathan's Famous, Inc. | 840 | 93022 |
|  Papa John's International, Inc. | 10791 | 519587 |
|  Portillo's, Inc., Class A(x)\* | 18249 | 117706 |
|  Potbelly Corp.\* | 6001 | 102257 |
|  Pursuit Attractions and Hospitality, Inc.\* | 6978 | 252464 |
|  RCI Hospitality Holdings, Inc. | 1890 | 57664 |
|  Red Rock Resorts, Inc., Class A | 15422 | 941667 |
|  Rush Street Interactive, Inc.\* | 28566 | 585032 |
|  Sabre Corp.(x)\* | 119312 | 218341 |
|  Serve Robotics, Inc.(x)\* | 15211 | 176904 |
|  Shake Shack, Inc., Class A\* | 12349 | 1155990 |
|  Six Flags Entertainment Corp.(x)\* | 30465 | 692165 |
|  Super Group SGHC Ltd. | 51254 | 676553 |
|  Sweetgreen, Inc., Class A(x)\* | 33540 | 267649 |
|  Target Hospitality Corp.\* | 11795 | 100022 |
|  United Parks & Resorts, Inc.(x)\* | 9173 | 474244 |
|  Xponential Fitness, Inc., Class A\* | 5884 | 45836 |
|  |  | 15980415 |
|  ***Household Durables (1.6%)*** |  |  |
|  Bassett Furniture Industries, Inc. | 1514 | 23679 |
|  Beazer Homes USA, Inc.\* | 9123 | 223970 |
|  Cavco Industries, Inc.\* | 2445 | 1419885 |
|  Century Communities, Inc. | 7858 | 497962 |
|  Champion Homes, Inc.\* | 17790 | 1358622 |
|  Cricut, Inc., Class A | 10853 | 68265 |
|  Dream Finders Homes, Inc., Class A(x)\* | 9627 | 249532 |
|  Ethan Allen Interiors, Inc. | 7635 | 224927 |
|  Flexsteel Industries, Inc. | 886 | 41066 |
|  Green Brick Partners, Inc.\* | 10069 | 743696 |
|  Hamilton Beach Brands Holding Co., Class A | 1755 | 25219 |
|  Helen of Troy Ltd.\* | 5309 | 133787 |
|  Hovnanian Enterprises, Inc., Class A\* | 1597 | 205199 |
|  Installed Building Products, Inc.(x) | 7392 | 1823311 |
|  KB Home | 20671 | 1315502 |
|  La-Z-Boy, Inc. | 14025 | 481338 |
|  Legacy Housing Corp.\* | 1965 | 54057 |
|  Leggett & Platt, Inc. | 42838 | 380401 |
|  LGI Homes, Inc.\* | 6944 | 359074 |
|  Lovesac Co. (The)(x)\* | 2973 | 50333 |
|  M/I Homes, Inc.\* | 8497 | 1227307 |
|  Meritage Homes Corp. | 22371 | 1620332 |
|  Sonos, Inc.\* | 36274 | 573129 |
|  Taylor Morrison Home Corp., Class A\* | 31020 | 2047630 |
|  Traeger, Inc.\* | 9475 | 11560 |
|  Tri Pointe Homes, Inc.\* | 27056 | 919092 |
|  |  | 16078875 |
|  ***Leisure Products (0.4%)*** |  |  |
|  Acushnet Holdings Corp. | 8713 | 683883 |
|  American Outdoor Brands, Inc.\* | 2642 | 22933 |
|  Clarus Corp. | 8706 | 30471 |
|  Escalade, Inc. | 2626 | 33009 |
|  Funko, Inc., Class A\* | 14117 | 48562 |
|  JAKKS Pacific, Inc. | 2698 | 50534 |
|  Johnson Outdoors, Inc., Class A | 1968 | 79487 |
|  Latham Group, Inc.\* | 10306 | 78429 |
|  Malibu Boats, Inc., Class A\* | 6395 | 207518 |
|  Marine Products Corp. | 4530 | 40181 |
|  MasterCraft Boat Holdings, Inc.\* | 5584 | 119833 |
|  Outdoor Holding Co.(x)\* | 33475 | 49543 |
|  Peloton Interactive, Inc., Class A\* | 118154 | 1063386 |
|  Polaris, Inc. | 16801 | 976642 |
|  Smith & Wesson Brands, Inc. | 13563 | 133324 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Sturm Ruger & Co., Inc. | 5046 | $219350 |
|  Topgolf Callaway Brands Corp.\* | 40075 | 380712 |
|  |  | 4217797 |
|  ***Specialty Retail (2.1%)*** |  |  |
|  1-800-Flowers.com, Inc., Class A(x)\* | 8528 | 39229 |
|  Abercrombie & Fitch Co., Class A\* | 14800 | 1266140 |
|  Academy Sports & Outdoors, Inc. | 20723 | 1036564 |
|  Advance Auto Parts, Inc.(x) | 19072 | 1171021 |
|  American Eagle Outfitters, Inc.(x) | 49999 | 855483 |
|  America's Car-Mart, Inc.\* | 2271 | 66336 |
|  Arhaus, Inc., Class A\* | 11410 | 121288 |
|  Arko Corp.(x) | 24582 | 112340 |
|  Asbury Automotive Group, Inc.\* | 6227 | 1522190 |
|  BARK, Inc.\* | 38084 | 31640 |
|  Barnes & Noble Education, Inc.\* | 3413 | 33959 |
|  Bed Bath & Beyond, Inc.(x)\* | 12761 | 124930 |
|  Boot Barn Holdings, Inc.\* | 9796 | 1623393 |
|  Buckle, Inc. (The) | 10365 | 608011 |
|  Build-A-Bear Workshop, Inc.(x) | 4002 | 260970 |
|  Caleres, Inc. | 10610 | 138354 |
|  Camping World Holdings, Inc., Class A | 19115 | 301826 |
|  Citi Trends, Inc.\* | 1909 | 59236 |
|  Designer Brands, Inc., Class A(x) | 11385 | 40303 |
|  Envela Corp.\* | 988 | 7716 |
|  EVgo, Inc., Class A\* | 42116 | 199209 |
|  Genesco, Inc.\* | 2358 | 68358 |
|  Group 1 Automotive, Inc. | 4030 | 1763165 |
|  Haverty Furniture Cos., Inc. | 4519 | 99102 |
|  J Jill, Inc. | 2226 | 38176 |
|  Lands' End, Inc.\* | 4006 | 56485 |
|  MarineMax, Inc.(x)\* | 4200 | 106386 |
|  Monro, Inc. | 9614 | 172764 |
|  National Vision Holdings, Inc.\* | 25662 | 749074 |
|  ODP Corp. (The)\* | 8983 | 250176 |
|  OneWater Marine, Inc., Class A\* | 2740 | 43402 |
|  Petco Health & Wellness Co., Inc., Class A(x)\* | 32134 | 124359 |
|  RealReal, Inc. (The)(x)\* | 31024 | 329785 |
|  Revolve Group, Inc., Class A\* | 13722 | 292279 |
|  Sally Beauty Holdings, Inc.\* | 31917 | 519609 |
|  Shoe Carnival, Inc. | 6234 | 129605 |
|  Signet Jewelers Ltd.(x) | 12920 | 1239286 |
|  Sleep Number Corp.(x)\* | 4671 | 32790 |
|  Sonic Automotive, Inc., Class A | 4785 | 364091 |
|  Stitch Fix, Inc., Class A\* | 33820 | 147117 |
|  ThredUp, Inc., Class A\* | 28100 | 265545 |
|  Tile Shop Holdings, Inc.\* | 8974 | 54293 |
|  Torrid Holdings, Inc.(x)\* | 9797 | 17145 |
|  Upbound Group, Inc. | 17483 | 413123 |
|  Urban Outfitters, Inc.\* | 19658 | 1404171 |
|  Victoria's Secret & Co.\* | 21100 | 572654 |
|  Warby Parker, Inc., Class A\* | 30188 | 832585 |
|  Winmark Corp. | 966 | 480846 |
|  Zumiez, Inc.\* | 3418 | 67027 |
|  |  | 20253536 |
|  ***Textiles, Apparel & Luxury Goods (0.6%)*** |  |  |
|  Capri Holdings Ltd.\* | 34015 | 677579 |
|  Carter's, Inc.(x) | 11397 | 321623 |
|  Ermenegildo Zegna NV(x) | 19789 | 187006 |
|  Figs, Inc., Class A\* | 34676 | 231983 |
|  G-III Apparel Group Ltd.\* | 12034 | 320225 |
|  Hanesbrands, Inc.\* | 109877 | 724089 |
|  Kontoor Brands, Inc. | 17276 | 1378107 |
|  Lakeland Industries, Inc.(x) | 2010 | 29748 |
|  Movado Group, Inc. | 3976 | 75425 |
|  Oxford Industries, Inc. | 4767 | 193254 |
|  Rocky Brands, Inc. | 2079 | 61933 |
|  Steven Madden Ltd.(x) | 22275 | 745767 |
|  Superior Group of Cos., Inc. | 4753 | 50952 |
|  Wolverine World Wide, Inc. | 25420 | 697525 |
|  |  | 5695216 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 88024522 |
|  **Consumer Staples (1.8%)** |  |  |
|  ***Beverages (0.1%)*** |  |  |
|  MGP Ingredients, Inc. | 4669 | 112943 |
|  National Beverage Corp.\* | 7653 | 282549 |
|  Vita Coco Co., Inc. (The)\* | 13815 | 586723 |
|  Zevia PBC, Class A\* | 14036 | 38178 |
|  |  | 1020393 |
|  ***Consumer Staples Distribution & Retail (0.4%)*** |  |  |
|  Andersons, Inc. (The) | 10514 | 418562 |
|  Chefs' Warehouse, Inc. (The)\* | 11477 | 669454 |
|  Grocery Outlet Holding Corp.\* | 30464 | 488947 |
|  Guardian Pharmacy Services, Inc., Class A\* | 6534 | 171387 |
|  HF Foods Group, Inc.\* | 12584 | 34732 |
|  Ingles Markets, Inc., Class A | 4666 | 324567 |
|  Natural Grocers by Vitamin Cottage, Inc. | 2830 | 113200 |
|  PriceSmart, Inc. | 7698 | 932921 |
|  United Natural Foods, Inc.\* | 18510 | 696346 |
|  Village Super Market, Inc., Class A | 3165 | 118244 |
|  Weis Markets, Inc. | 5322 | 382492 |
|  |  | 4350852 |
|  ***Food Products (0.7%)*** |  |  |
|  Alico, Inc. | 1764 | 61140 |
|  B&G Foods, Inc.(x) | 25623 | 113510 |
|  Beyond Meat, Inc.(x)\* | 23482 | 44381 |
|  BRC, Inc., Class A(x)\* | 29751 | 46412 |
|  Calavo Growers, Inc. | 4142 | 106615 |
|  Cal-Maine Foods, Inc. | 14516 | 1365956 |
|  Dole plc | 23356 | 313905 |
|  Forafric Global plc(x)\* | 1534 | 13330 |
|  Fresh Del Monte Produce, Inc. | 10767 | 373830 |
|  Hain Celestial Group, Inc. (The)\* | 29228 | 46180 |
|  J & J Snack Foods Corp. | 4974 | 477952 |
|  John B Sanfilippo & Son, Inc. | 2610 | 167771 |
|  Lifeway Foods, Inc.\* | 3112 | 86389 |
|  Limoneira Co. | 4943 | 73404 |
|  Mama's Creations, Inc.\* | 7445 | 78247 |
|  Marzetti Co. (The) | 6284 | 1085812 |
|  Mission Produce, Inc.\* | 13866 | 166669 |
|  Seneca Foods Corp., Class A\* | 1421 | 153383 |
|  Simply Good Foods Co. (The)\* | 27578 | 684486 |
|  SunOpta, Inc.\* | 30332 | 177745 |
|  Tootsie Roll Industries, Inc. | 5618 | 235507 |
|  TreeHouse Foods, Inc.\* | 16265 | 328716 |
|  Utz Brands, Inc. | 22514 | 273545 |
|  Vital Farms, Inc.\* | 11062 | 455201 |
|  Westrock Coffee Co.(x)\* | 14492 | 70431 |
|  |  | 7000517 |
|  ***Household Products (0.3%)*** |  |  |
|  Central Garden & Pet Co.\* | 3041 | 99289 |
|  Central Garden & Pet Co., Class A\* | 15882 | 468995 |
|  Energizer Holdings, Inc. | 20837 | 518633 |
|  Oil-Dri Corp. of America | 3169 | 193436 |
|  Spectrum Brands Holdings, Inc. | 7486 | 393239 |
|  WD-40 Co. | 4147 | 819447 |
|  |  | 2493039 |
|  ***Personal Care Products (0.2%)*** |  |  |
|  Beauty Health Co. (The)(x)\* | 44077 | 87713 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Edgewell Personal Care Co. | 13935 | $283717 |
|  FitLife Brands, Inc.\* | 631 | 12551 |
|  Herbalife Ltd.(x)\* | 32405 | 273498 |
|  Honest Co., Inc. (The)(x)\* | 29527 | 108659 |
|  Interparfums, Inc. | 5355 | 526825 |
|  Lifevantage Corp. | 3413 | 33208 |
|  Medifast, Inc.(x)\* | 2503 | 34216 |
|  Nature's Sunshine Products, Inc.\* | 5144 | 79835 |
|  Nu Skin Enterprises, Inc., Class A | 16897 | 205974 |
|  Olaplex Holdings, Inc.\* | 47079 | 61674 |
|  USANA Health Sciences, Inc.\* | 3544 | 97637 |
|  Waldencast plc, Class A(x)\* | 13718 | 27162 |
|  |  | 1832669 |
|  ***Tobacco (0.1%)*** |  |  |
|  Ispire Technology, Inc.(x)\* | 9255 | 23693 |
|  Turning Point Brands, Inc. | 5321 | 526034 |
|  Universal Corp. | 7759 | 433495 |
|  |  | 983222 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 17680692 |
|  **Energy (4.4%)** |  |  |
|  ***Energy Equipment & Services (1.5%)*** |  |  |
|  Archrock, Inc. | 52585 | 1383511 |
|  Aris Water Solutions, Inc., Class A | 9557 | 235676 |
|  Atlas Energy Solutions, Inc.(x) | 24405 | 277485 |
|  Borr Drilling Ltd.(x) | 76728 | 206398 |
|  Bristow Group, Inc., Class A\* | 9150 | 330132 |
|  Cactus, Inc., Class A | 22160 | 874655 |
|  Core Laboratories, Inc. | 10853 | 134143 |
|  DMC Global, Inc.\* | 5431 | 45892 |
|  Energy Services of America Corp. | 2664 | 27572 |
|  Expro Group Holdings NV\* | 32293 | 383641 |
|  Flowco Holdings, Inc., Class A | 6414 | 95248 |
|  Forum Energy Technologies, Inc.\* | 3278 | 87555 |
|  Helix Energy Solutions Group, Inc.\* | 47087 | 308891 |
|  Helmerich & Payne, Inc. | 31448 | 694686 |
|  Innovex International, Inc.\* | 11458 | 212431 |
|  Kodiak Gas Services, Inc.(x) | 21092 | 779771 |
|  Liberty Energy, Inc., Class A | 51562 | 636275 |
|  Mammoth Energy Services, Inc.\* | 6257 | 14329 |
|  Nabors Industries Ltd.(x)\* | 4127 | 168671 |
|  National Energy Services Reunited Corp.\* | 19370 | 198736 |
|  Natural Gas Services Group, Inc. | 3942 | 110337 |
|  Noble Corp. plc | 39973 | 1130436 |
|  Oceaneering International, Inc.\* | 31047 | 769345 |
|  Oil States International, Inc.\* | 13871 | 84058 |
|  Patterson-UTI Energy, Inc. | 114705 | 594172 |
|  ProFrac Holding Corp., Class A\* | 9639 | 35664 |
|  ProPetro Holding Corp.\* | 18256 | 95662 |
|  Ranger Energy Services, Inc., Class A | 5719 | 80295 |
|  RPC, Inc. | 20851 | 99251 |
|  SEACOR Marine Holdings, Inc.(x)\* | 8110 | 52634 |
|  Seadrill Ltd.\* | 20534 | 620332 |
|  Select Water Solutions, Inc., Class A | 30067 | 321416 |
|  Solaris Energy Infrastructure, Inc., Class A | 11690 | 467249 |
|  TETRA Technologies, Inc.\* | 40555 | 233191 |
|  Tidewater, Inc.\* | 15926 | 849334 |
|  Transocean Ltd.(x)\* | 260455 | 812620 |
|  Valaris Ltd.\* | 19505 | 951259 |
|  |  | 14402953 |
|  ***Oil, Gas & Consumable Fuels (2.9%)*** |  |  |
|  Ardmore Shipping Corp.(x) | 12022 | 142701 |
|  Berry Corp. | 18541 | 70085 |
|  BKV Corp.\* | 6196 | 143313 |
|  California Resources Corp. | 21372 | 1136563 |
|  Calumet, Inc.(x)\* | 22023 | 401920 |
|  Centrus Energy Corp., Class A(x)\* | 4929 | 1528335 |
|  Clean Energy Fuels Corp.\* | 55051 | 142032 |
|  CNX Resources Corp.(x)\* | 44028 | 1414179 |
|  Comstock Resources, Inc.(x)\* | 23750 | 470962 |
|  Core Natural Resources, Inc. | 16608 | 1386436 |
|  Crescent Energy Co., Class A | 55068 | 491207 |
|  CVR Energy, Inc.\* | 10530 | 384134 |
|  Delek US Holdings, Inc. | 18939 | 611162 |
|  DHT Holdings, Inc. | 42626 | 509381 |
|  Diversified Energy Co. plc(m) | 17173 | 240594 |
|  Dorian LPG Ltd. | 11998 | 357540 |
|  Empire Petroleum Corp.(x)\* | 3717 | 16801 |
|  Encore Energy Corp.(x)\* | 56358 | 180909 |
|  Energy Fuels, Inc.(x)\* | 66385 | 1019010 |
|  Epsilon Energy Ltd. | 3897 | 19641 |
|  Evolution Petroleum Corp.(x) | 9400 | 45308 |
|  Excelerate Energy, Inc., Class A | 5149 | 129703 |
|  FLEX LNG Ltd. | 10342 | 260618 |
|  FutureFuel Corp. | 10021 | 38881 |
|  Gevo, Inc.(x)\* | 52560 | 103018 |
|  Golar LNG Ltd. | 31917 | 1289766 |
|  Granite Ridge Resources, Inc. | 17391 | 94085 |
|  Green Plains, Inc.\* | 20398 | 179298 |
|  Gulfport Energy Corp.\* | 4859 | 879382 |
|  HighPeak Energy, Inc.(x) | 7522 | 53181 |
|  Infinity Natural Resources, Inc., Class A\* | 3317 | 43486 |
|  International Seaways, Inc. | 12706 | 585492 |
|  Kinetik Holdings, Inc., Class A(x) | 13871 | 592847 |
|  Kolibri Global Energy, Inc.(x)\* | 5753 | 31929 |
|  Kosmos Energy Ltd.\* | 153808 | 255321 |
|  Lightbridge Corp.\* | 4327 | 91776 |
|  Magnolia Oil & Gas Corp., Class A | 58817 | 1403962 |
|  Murphy Oil Corp.(x) | 43409 | 1233250 |
|  NACCO Industries, Inc., Class A | 1173 | 49454 |
|  Navigator Holdings Ltd. | 7332 | 113573 |
|  New Fortress Energy, Inc.(x)\* | 39112 | 86437 |
|  NextDecade Corp.\* | 42186 | 286443 |
|  NextNRG, Inc.\* | 4087 | 7479 |
|  Nordic American Tankers Ltd.(x) | 66059 | 207425 |
|  Northern Oil & Gas, Inc.(x) | 29531 | 732369 |
|  OPAL Fuels, Inc., Class A(x)\* | 4345 | 9559 |
|  Par Pacific Holdings, Inc.\* | 16972 | 601148 |
|  PBF Energy, Inc., Class A | 26437 | 797604 |
|  Peabody Energy Corp. | 38019 | 1008264 |
|  Prairie Operating Co.(x)\* | 4751 | 9431 |
|  PrimeEnergy Resources Corp.\* | 104 | 17371 |
|  REX American Resources Corp.\* | 10254 | 313977 |
|  Riley Exploration Permian, Inc. | 4657 | 126251 |
|  Sable Offshore Corp.\* | 23397 | 408512 |
|  SandRidge Energy, Inc. | 12454 | 140481 |
|  Scorpio Tankers, Inc. | 14444 | 809586 |
|  SFL Corp. Ltd.(x) | 39230 | 295402 |
|  SM Energy Co. | 36841 | 919920 |
|  Summit Midstream Corp.\* | 2205 | 45291 |
|  Talos Energy, Inc.\* | 42380 | 406424 |
|  Teekay Corp. Ltd. | 17556 | 143608 |
|  Teekay Tankers Ltd., Class A | 8034 | 406119 |
|  Uranium Energy Corp.\* | 135407 | 1806329 |
|  VAALCO Energy, Inc.(x) | 30228 | 121517 |
|  Verde Clean Fuels, Inc.\* | 1072 | 3270 |
|  Vital Energy, Inc.\* | 6559 | 110781 |
|  Vitesse Energy, Inc.(x) | 9399 | 218339 |
|  W&T Offshore, Inc.(x) | 42666 | 77652 |
|  World Kinect Corp. | 17296 | 448831 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  XCF Global, Inc., Class A\* | 9767 | $12795 |
|  |  | 28719850 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 43122803 |
|  **Financials (16.3%)** |  |  |
|  ***Banks (9.0%)*** |  |  |
|  1st Source Corp. | 5747 | 353785 |
|  ACNB Corp. | 3160 | 139166 |
|  Amalgamated Financial Corp. | 7449 | 202240 |
|  Amerant Bancorp, Inc., Class A | 11855 | 228446 |
|  Ameris Bancorp | 20931 | 1534452 |
|  Ames National Corp. | 2444 | 49418 |
|  Arrow Financial Corp. | 5281 | 149452 |
|  Associated Banc-Corp. | 52250 | 1343348 |
|  Atlantic Union Bankshares Corp. | 45230 | 1596167 |
|  Axos Financial, Inc.\* | 17100 | 1447515 |
|  Banc of California, Inc. | 39663 | 656423 |
|  BancFirst Corp. | 6838 | 864665 |
|  Bancorp, Inc. (The)\* | 14233 | 1065909 |
|  Bank First Corp. | 3142 | 381156 |
|  Bank of Hawaii Corp. | 12479 | 819122 |
|  Bank of Marin Bancorp | 4235 | 102826 |
|  Bank of NT Butterfield & Son Ltd. (The) | 13942 | 598391 |
|  Bank7 Corp. | 1704 | 78844 |
|  BankFinancial Corp. | 2033 | 24457 |
|  BankUnited, Inc. | 24330 | 928433 |
|  Bankwell Financial Group, Inc. | 1924 | 85137 |
|  Banner Corp. | 11239 | 736155 |
|  Bar Harbor Bankshares | 4703 | 143253 |
|  BayCom Corp. | 3139 | 90246 |
|  BCB Bancorp, Inc. | 5457 | 47367 |
|  Beacon Financial Corp. | 26459 | 627343 |
|  Blue Foundry Bancorp\* | 6313 | 57385 |
|  Blue Ridge Bankshares, Inc.\* | 16340 | 69118 |
|  Bridgewater Bancshares, Inc.\* | 7434 | 130838 |
|  Burke & Herbert Financial Services Corp. | 4141 | 255458 |
|  Business First Bancshares, Inc. | 9067 | 214072 |
|  BV Financial, Inc.\* | 2274 | 36657 |
|  Byline Bancorp, Inc. | 9204 | 255227 |
|  C&F Financial Corp. | 790 | 53088 |
|  Cadence Bank | 56321 | 2114290 |
|  California Bancorp\* | 7615 | 127018 |
|  Camden National Corp. | 5210 | 201054 |
|  Capital Bancorp, Inc. | 3838 | 122432 |
|  Capital City Bank Group, Inc. | 4512 | 188556 |
|  Capitol Federal Financial, Inc. | 39824 | 252882 |
|  Carter Bankshares, Inc.\* | 6948 | 134861 |
|  Cathay General Bancorp | 21491 | 1031783 |
|  CB Financial Services, Inc. | 1109 | 36830 |
|  Central Pacific Financial Corp. | 8419 | 255432 |
|  CF Bankshares, Inc. | 859 | 20573 |
|  Chain Bridge Bancorp, Inc., Class A\* | 622 | 20358 |
|  Chemung Financial Corp. | 1183 | 62131 |
|  ChoiceOne Financial Services, Inc.(x) | 4608 | 133448 |
|  Citizens & Northern Corp. | 4716 | 93424 |
|  Citizens Community Bancorp, Inc. | 2061 | 33120 |
|  Citizens Financial Services, Inc. | 1277 | 76978 |
|  City Holding Co. | 4371 | 541436 |
|  Civista Bancshares, Inc. | 5229 | 106201 |
|  CNB Financial Corp. | 8143 | 197061 |
|  Coastal Financial Corp.(x)\* | 4084 | 441766 |
|  CoastalSouth Bancshares, Inc.\* | 720 | 15703 |
|  Colony Bankcorp, Inc. | 5129 | 87244 |
|  Columbia Financial, Inc.\* | 8602 | 129116 |
|  Community Financial System, Inc. | 16960 | 994534 |
|  Community Trust Bancorp, Inc. | 4686 | 262182 |
|  Community West Bancshares | 5683 | 118434 |
|  ConnectOne Bancorp, Inc. | 14404 | 357363 |
|  Customers Bancorp, Inc.\* | 9351 | 611275 |
|  CVB Financial Corp. | 41722 | 788963 |
|  Dime Community Bancshares, Inc. | 12866 | 383793 |
|  Eagle Bancorp Montana, Inc. | 1990 | 34367 |
|  Eagle Bancorp, Inc. | 9551 | 193121 |
|  Eagle Financial Services, Inc. | 1131 | 42786 |
|  Eastern Bankshares, Inc. | 63086 | 1145011 |
|  ECB Bancorp, Inc.\* | 1593 | 25281 |
|  Enterprise Financial Services Corp. | 12149 | 704399 |
|  Equity Bancshares, Inc., Class A | 4424 | 180057 |
|  Esquire Financial Holdings, Inc. | 2086 | 212887 |
|  Farmers & Merchants Bancorp, Inc. | 4039 | 101015 |
|  Farmers National Banc Corp. | 11007 | 158611 |
|  FB Bancorp, Inc.\* | 4897 | 58862 |
|  FB Financial Corp. | 13189 | 735155 |
|  Fidelity D&D Bancorp, Inc. | 1479 | 64825 |
|  Financial Institutions, Inc. | 5236 | 142419 |
|  Finward Bancorp | 709 | 22752 |
|  Finwise Bancorp\* | 2089 | 40506 |
|  First Bancorp (Nasdaq Stock Exchange) | 13017 | 688469 |
|  First Bancorp (New York Stock Exchange) | 52397 | 1155354 |
|  First Bancorp, Inc. (The) | 3146 | 82614 |
|  First Bank | 7359 | 119878 |
|  First Busey Corp. | 27245 | 630722 |
|  First Business Financial Services, Inc. | 2483 | 127279 |
|  First Capital, Inc.(x) | 758 | 34716 |
|  First Commonwealth Financial Corp. | 33976 | 579291 |
|  First Community Bankshares, Inc. | 4384 | 152563 |
|  First Community Corp. | 1761 | 49695 |
|  First Financial Bancorp | 30873 | 779543 |
|  First Financial Bankshares, Inc. | 42089 | 1416295 |
|  First Financial Corp. | 3220 | 181737 |
|  First Financial Northwest, Inc.(r)\* | 250 | 265 |
|  First Foundation, Inc.\* | 22947 | 127815 |
|  First Internet Bancorp | 2143 | 48067 |
|  First Interstate BancSystem, Inc., Class A | 28594 | 911291 |
|  First Merchants Corp. | 18246 | 687874 |
|  First Mid Bancshares, Inc. | 7037 | 266562 |
|  First National Corp. | 1858 | 42139 |
|  First Savings Financial Group, Inc. | 1363 | 42839 |
|  First United Corp. | 1507 | 55412 |
|  First Western Financial, Inc.\* | 2791 | 64263 |
|  Firstsun Capital Bancorp\* | 3681 | 142786 |
|  Five Star Bancorp | 4969 | 160002 |
|  Flagstar Financial, Inc. | 96421 | 1113663 |
|  Flushing Financial Corp. | 8366 | 115534 |
|  Franklin Financial Services Corp.(x) | 1069 | 49174 |
|  FS Bancorp, Inc. | 1991 | 79481 |
|  Fulton Financial Corp. | 59250 | 1103828 |
|  FVCBankcorp, Inc. | 5163 | 66964 |
|  GBank Financial Holdings, Inc.(x)\* | 2907 | 114158 |
|  German American Bancorp, Inc. | 11570 | 454354 |
|  Glacier Bancorp, Inc.(x) | 37203 | 1810670 |
|  Great Southern Bancorp, Inc. | 2554 | 156433 |
|  Greene County Bancorp, Inc. | 3664 | 82806 |
|  Guaranty Bancshares, Inc. | 2884 | 140595 |
|  Hancock Whitney Corp. | 27538 | 1724154 |
|  Hanmi Financial Corp. | 8650 | 213569 |
|  Hanover Bancorp, Inc. | 1079 | 24224 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  HarborOne Bancorp, Inc. | 12258 | $166709 |
|  Hawthorn Bancshares, Inc. | 1432 | 44449 |
|  HBT Financial, Inc. | 4275 | 107730 |
|  Heritage Commerce Corp. | 19025 | 188918 |
|  Heritage Financial Corp. | 11675 | 282418 |
|  Hilltop Holdings, Inc. | 14990 | 500966 |
|  Hingham Institution For Savings (The)(x) | 365 | 96280 |
|  Home Bancorp, Inc. | 2312 | 125599 |
|  Home BancShares, Inc. | 60007 | 1698198 |
|  HomeTrust Bancshares, Inc. | 4554 | 186441 |
|  Hope Bancorp, Inc. | 40008 | 430886 |
|  Horizon Bancorp, Inc. | 13930 | 223019 |
|  Independent Bank Corp. | 6698 | 207471 |
|  Independent Bank Corp./MA | 15106 | 1044882 |
|  International Bancshares Corp. | 17475 | 1201406 |
|  Investar Holding Corp. | 2448 | 56818 |
|  John Marshall Bancorp, Inc. | 3314 | 65683 |
|  Kearny Financial Corp. | 18355 | 120592 |
|  Lakeland Financial Corp. | 7927 | 508913 |
|  Landmark Bancorp, Inc. | 1079 | 28799 |
|  LCNB Corp. | 3963 | 59405 |
|  LINKBANCORP, Inc. | 6260 | 44634 |
|  Live Oak Bancshares, Inc. | 11092 | 390660 |
|  MainStreet Bancshares, Inc. | 1709 | 35598 |
|  Mechanics Bancorp\* | 7002 | 93197 |
|  Mercantile Bank Corp. | 5232 | 235440 |
|  Meridian Corp. | 2343 | 36996 |
|  Metrocity Bankshares, Inc. | 6025 | 166832 |
|  Metropolitan Bank Holding Corp. | 2752 | 205905 |
|  Mid Penn Bancorp, Inc. | 5679 | 162647 |
|  Middlefield Banc Corp. | 1974 | 59240 |
|  Midland States Bancorp, Inc. | 6544 | 112164 |
|  MidWestOne Financial Group, Inc. | 2992 | 84644 |
|  MVB Financial Corp. | 3798 | 95178 |
|  National Bank Holdings Corp., Class A | 12421 | 479947 |
|  National Bankshares, Inc. | 1935 | 56966 |
|  NB Bancorp, Inc. | 11888 | 209823 |
|  NBT Bancorp, Inc. | 16141 | 674048 |
|  Nicolet Bankshares, Inc. | 4204 | 565438 |
|  Northeast Bank | 2388 | 239182 |
|  Northeast Community Bancorp, Inc. | 3711 | 76335 |
|  Northfield Bancorp, Inc. | 11942 | 140916 |
|  Northpointe Bancshares, Inc. | 3127 | 53409 |
|  Northrim Bancorp, Inc. | 5060 | 109600 |
|  Northwest Bancshares, Inc. | 46612 | 577523 |
|  Norwood Financial Corp.(x) | 2264 | 57551 |
|  Oak Valley Bancorp | 2212 | 62312 |
|  OceanFirst Financial Corp. | 18640 | 327505 |
|  OFG Bancorp | 13718 | 596596 |
|  Ohio Valley Banc Corp. | 903 | 33393 |
|  Old National Bancorp | 110623 | 2428175 |
|  Old Second Bancorp, Inc. | 13710 | 236977 |
|  OP Bancorp | 3217 | 44781 |
|  Orange County Bancorp, Inc. | 3734 | 94134 |
|  Origin Bancorp, Inc. | 9337 | 322313 |
|  Orrstown Financial Services, Inc. | 6032 | 204967 |
|  Park National Corp. | 4823 | 783882 |
|  Parke Bancorp, Inc. | 3552 | 76546 |
|  Pathward Financial, Inc. | 7500 | 555075 |
|  Patriot National Bancorp, Inc.(x)\* | 22375 | 29088 |
|  PCB Bancorp | 3293 | 69153 |
|  Peapack-Gladstone Financial Corp. | 4979 | 137420 |
|  Peoples Bancorp of North Carolina, Inc. | 1108 | 33971 |
|  Peoples Bancorp, Inc. | 10753 | 322482 |
|  Peoples Financial Services Corp. | 2786 | 135427 |
|  Pioneer Bancorp, Inc.\* | 4523 | 59070 |
|  Plumas Bancorp | 1589 | 68549 |
|  Ponce Financial Group, Inc.\* | 5850 | 85995 |
|  Preferred Bank | 3583 | 323867 |
|  Primis Financial Corp. | 7369 | 77448 |
|  Princeton Bancorp, Inc. | 1602 | 51008 |
|  Provident Bancorp, Inc.\* | 7569 | 94840 |
|  Provident Financial Services, Inc. | 41950 | 808796 |
|  QCR Holdings, Inc. | 5569 | 421239 |
|  RBB Bancorp | 5497 | 103124 |
|  Red River Bancshares, Inc. | 1651 | 107018 |
|  Renasant Corp. | 30448 | 1123227 |
|  Republic Bancorp, Inc., Class A | 2431 | 175640 |
|  Rhinebeck Bancorp, Inc.\* | 876 | 9951 |
|  Richmond Mutual Bancorp, Inc. | 2365 | 33607 |
|  Riverview Bancorp, Inc. | 5497 | 29519 |
|  S&T Bancorp, Inc. | 12839 | 482618 |
|  SB Financial Group, Inc. | 1504 | 29012 |
|  Seacoast Banking Corp. of Florida | 26967 | 820606 |
|  ServisFirst Bancshares, Inc. | 16533 | 1331402 |
|  Shore Bancshares, Inc. | 9456 | 155173 |
|  Sierra Bancorp | 4125 | 119254 |
|  Simmons First National Corp., Class A | 43925 | 842042 |
|  SmartFinancial, Inc. | 4486 | 160285 |
|  Sound Financial Bancorp, Inc. | 457 | 21049 |
|  South Plains Financial, Inc. | 3686 | 142464 |
|  Southern First Bancshares, Inc.\* | 2119 | 93490 |
|  Southern Missouri Bancorp, Inc. | 2827 | 148587 |
|  Southside Bancshares, Inc. | 9559 | 270042 |
|  SR Bancorp, Inc.(x) | 2337 | 35265 |
|  Stellar Bancorp, Inc. | 15944 | 483741 |
|  Sterling Bancorp, Inc.(r)\* | 6057 |  |
|  Stock Yards Bancorp, Inc. | 8129 | 568949 |
|  Texas Capital Bancshares, Inc.\* | 14327 | 1211061 |
|  Third Coast Bancshares, Inc.\* | 3359 | 127541 |
|  Timberland Bancorp, Inc. | 2073 | 68989 |
|  Tompkins Financial Corp. | 4296 | 284438 |
|  Towne Bank | 22517 | 778413 |
|  TriCo Bancshares | 9631 | 427713 |
|  Triumph Financial, Inc.\* | 7510 | 375800 |
|  TrustCo Bank Corp. | 5790 | 210177 |
|  Trustmark Corp. | 18595 | 736362 |
|  UMB Financial Corp. | 23295 | 2756963 |
|  Union Bankshares, Inc. | 812 | 20105 |
|  United Bankshares, Inc. | 44574 | 1658599 |
|  United Community Banks, Inc. | 38040 | 1192554 |
|  United Security Bancshares | 2408 | 22467 |
|  Unity Bancorp, Inc. | 2517 | 123006 |
|  Univest Financial Corp. | 9203 | 276274 |
|  USCB Financial Holdings, Inc. | 4044 | 70568 |
|  Valley National Bancorp | 152976 | 1621546 |
|  Veritex Holdings, Inc. | 17489 | 586406 |
|  Virginia National Bankshares Corp. | 1328 | 51540 |
|  WaFd, Inc. | 24583 | 744619 |
|  Washington Trust Bancorp, Inc. | 5809 | 167880 |
|  WesBanco, Inc. | 30035 | 959018 |
|  West Bancorp, Inc. | 4557 | 92598 |
|  Westamerica Bancorp | 8220 | 410918 |
|  Western New England Bancorp, Inc. | 4711 | 56579 |
|  WSFS Financial Corp. | 17769 | 958282 |
|  |  | 89035877 |
|  ***Capital Markets (1.6%)*** |  |  |
|  Acadian Asset Management, Inc. | 8458 | 407337 |
|  AlTi Global, Inc.\* | 17753 | 63201 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Artisan Partners Asset Management, Inc., Class A | 19978 | $867045 |
|  Bakkt Holdings, Inc., Class A(x)\* | 2458 | 82712 |
|  BGC Group, Inc., Class A | 114040 | 1078818 |
|  Cohen & Steers, Inc. | 8917 | 585044 |
|  Diamond Hill Investment Group, Inc. | 710 | 99407 |
|  DigitalBridge Group, Inc. | 53762 | 629015 |
|  Donnelley Financial Solutions, Inc.\* | 8676 | 446207 |
|  Forge Global Holdings, Inc.\* | 3660 | 61854 |
|  GCM Grosvenor, Inc., Class A(x) | 14149 | 170778 |
|  Marex Group plc | 16912 | 568581 |
|  MarketWise, Inc. | 430 | 7108 |
|  Moelis & Co., Class A | 22922 | 1634797 |
|  Open Lending Corp.\* | 26545 | 56010 |
|  P10, Inc., Class A(x) | 15749 | 171349 |
|  Patria Investments Ltd., Class A | 20416 | 298074 |
|  Perella Weinberg Partners, Class A | 18621 | 397000 |
|  Piper Sandler Cos. | 5547 | 1924754 |
|  PJT Partners, Inc., Class A | 7189 | 1277701 |
|  Siebert Financial Corp.\* | 3146 | 9186 |
|  Silvercrest Asset Management Group, Inc., Class A | 2449 | 38572 |
|  StepStone Group, Inc., Class A | 21689 | 1416509 |
|  StoneX Group, Inc.\* | 14404 | 1453652 |
|  Value Line, Inc. | 933 | 36462 |
|  Victory Capital Holdings, Inc., Class A | 14138 | 915577 |
|  Virtus Investment Partners, Inc. | 2143 | 407234 |
|  Westwood Holdings Group, Inc. | 1522 | 25098 |
|  WisdomTree, Inc.(x) | 40250 | 559475 |
|  |  | 15688557 |
|  ***Consumer Finance (0.9%)*** |  |  |
|  Atlanticus Holdings Corp.\* | 2162 | 126650 |
|  Bread Financial Holdings, Inc. | 13368 | 745533 |
|  Consumer Portfolio Services, Inc.\* | 3714 | 28041 |
|  Dave, Inc.\* | 2963 | 590674 |
|  Encore Capital Group, Inc.\* | 7628 | 318393 |
|  Enova International, Inc.\* | 7480 | 860873 |
|  FirstCash Holdings, Inc. | 12649 | 2003855 |
|  Green Dot Corp., Class A\* | 17154 | 230378 |
|  Jefferson Capital, Inc. | 2105 | 36332 |
|  LendingClub Corp.\* | 34237 | 520060 |
|  LendingTree, Inc.\* | 3406 | 220471 |
|  Medallion Financial Corp. | 3727 | 37643 |
|  Navient Corp. | 22291 | 293127 |
|  Nelnet, Inc., Class A | 4072 | 510547 |
|  NerdWallet, Inc., Class A\* | 9919 | 106729 |
|  Oportun Financial Corp.\* | 7755 | 47848 |
|  OppFi, Inc. | 5670 | 64241 |
|  PRA Group, Inc.\* | 13237 | 204379 |
|  PROG Holdings, Inc. | 12656 | 409548 |
|  Regional Management Corp. | 3249 | 126581 |
|  Upstart Holdings, Inc.(x)\* | 26729 | 1357833 |
|  Vroom, Inc.\* | 205 | 5541 |
|  World Acceptance Corp.\* | 872 | 147490 |
|  |  | 8992767 |
|  ***Financial Services (2.2%)*** |  |  |
|  Acacia Research Corp.\* | 13529 | 43969 |
|  Alerus Financial Corp. | 5746 | 127216 |
|  AvidXchange Holdings, Inc.\* | 55801 | 555220 |
|  Banco Latinoamericano de Comercio Exterior SA, Class E | 9620 | 442231 |
|  Better Home & Finance Holding Co.\* | 1063 | 59677 |
|  Burford Capital Ltd.(x) | 61917 | 740527 |
|  Cannae Holdings, Inc. | 17658 | 323318 |
|  Cantaloupe, Inc.\* | 18510 | 195651 |
|  Cass Information Systems, Inc. | 3487 | 137144 |
|  Compass Diversified Holdings | 15533 | 102828 |
|  Enact Holdings, Inc. | 9392 | 360089 |
|  Essent Group Ltd. | 30801 | 1957712 |
|  Evertec, Inc. | 20112 | 679383 |
|  Federal Agricultural Mortgage Corp., Class C | 2979 | 500412 |
|  Finance of America Cos., Inc., Class A\* | 1048 | 23507 |
|  Flywire Corp.\* | 38999 | 528046 |
|  HA Sustainable Infrastructure Capital, Inc.(x) | 38157 | 1171420 |
|  International Money Express, Inc.\* | 6403 | 89450 |
|  Jackson Financial, Inc., Class A | 23098 | 2338211 |
|  loanDepot, Inc., Class A(x)\* | 18129 | 55656 |
|  Marqeta, Inc., Class A\* | 121652 | 642323 |
|  Merchants Bancorp | 7926 | 252047 |
|  NCR Atleos Corp.\* | 23736 | 933062 |
|  NewtekOne, Inc. | 7182 | 82234 |
|  NMI Holdings, Inc., Class A\* | 25291 | 969657 |
|  Onity Group, Inc.\* | 1611 | 64376 |
|  Pagseguro Digital Ltd., Class A | 59000 | 590000 |
|  Payoneer Global, Inc.\* | 88590 | 535969 |
|  Paysafe Ltd.(x)\* | 10356 | 133800 |
|  Paysign, Inc.\* | 14452 | 90903 |
|  PennyMac Financial Services, Inc. | 9188 | 1138209 |
|  Priority Technology Holdings, Inc.\* | 12186 | 83718 |
|  Radian Group, Inc. | 43428 | 1572962 |
|  Remitly Global, Inc.\* | 51659 | 842042 |
|  Repay Holdings Corp., Class A\* | 27019 | 141309 |
|  Security National Financial Corp., Class A\* | 3365 | 29175 |
|  Sezzle, Inc.\* | 4866 | 386993 |
|  StoneCo Ltd., Class A\* | 79035 | 1494552 |
|  SWK Holdings Corp. | 1367 | 19890 |
|  Triller Group, Inc.\* | 20953 | 17393 |
|  Velocity Financial, Inc.\* | 4544 | 82428 |
|  Walker & Dunlop, Inc. | 10625 | 888462 |
|  Waterstone Financial, Inc. | 5208 | 81245 |
|  |  | 21504416 |
|  ***Insurance (1.8%)*** |  |  |
|  Abacus Global Management, Inc.\* | 8399 | 48126 |
|  Ambac Financial Group, Inc.\* | 9317 | 77704 |
|  American Coastal Insurance Corp. | 8592 | 97863 |
|  American Integrity Insurance Group, Inc.\* | 1316 | 29360 |
|  AMERISAFE, Inc. | 5734 | 251378 |
|  Aspen Insurance Holdings Ltd., Class A\* | 5017 | 184174 |
|  Ategrity Specialty Holdings LLC\* | 669 | 13226 |
|  Baldwin Insurance Group, Inc. (The), Class A\* | 22698 | 640310 |
|  Bowhead Specialty Holdings, Inc.\* | 5191 | 140365 |
|  Citizens, Inc., Class A\* | 10151 | 53293 |
|  CNO Financial Group, Inc. | 31109 | 1230361 |
|  Crawford & Co., Class A | 5644 | 60391 |
|  Donegal Group, Inc., Class A | 6495 | 125938 |
|  eHealth, Inc.\* | 6587 | 28390 |
|  Employers Holdings, Inc. | 8163 | 346764 |
|  F&G Annuities & Life, Inc. | 6855 | 214356 |
|  Fidelis Insurance Holdings Ltd.(x) | 18545 | 336592 |
|  Genworth Financial, Inc., Class A\* | 134255 | 1194869 |
|  GoHealth, Inc., Class A\* | 979 | 4719 |
|  Goosehead Insurance, Inc., Class A | 7602 | 565741 |
|  Greenlight Capital Re Ltd., Class A\* | 8211 | 104280 |
|  Hamilton Insurance Group Ltd., Class B\* | 14320 | 355136 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  HCI Group, Inc. | 3303 | $633945 |
|  Heritage Insurance Holdings, Inc.\* | 7926 | 199577 |
|  Hippo Holdings, Inc.\* | 5811 | 210126 |
|  Horace Mann Educators Corp. | 13010 | 587662 |
|  Investors Title Co. | 331 | 88652 |
|  James River Group Holdings Ltd. | 11975 | 66461 |
|  Kestrel Group Ltd. | 616 | 16823 |
|  Kingstone Cos., Inc. | 2619 | 38499 |
|  Kingsway Financial Services, Inc.\* | 6725 | 98319 |
|  Lemonade, Inc.(x)\* | 17697 | 947320 |
|  MBIA, Inc.\* | 14154 | 105447 |
|  Mercury General Corp. | 8437 | 715289 |
|  NI Holdings, Inc.\* | 3666 | 49711 |
|  Oscar Health, Inc., Class A(x)\* | 60683 | 1148729 |
|  Palomar Holdings, Inc.\* | 8352 | 975096 |
|  ProAssurance Corp.\* | 16494 | 395691 |
|  Root, Inc., Class A(x)\* | 3396 | 303976 |
|  Safety Insurance Group, Inc. | 4877 | 344755 |
|  Selective Insurance Group, Inc. | 19327 | 1566840 |
|  Selectquote, Inc.\* | 44554 | 87326 |
|  SiriusPoint Ltd.\* | 27113 | 490474 |
|  Skyward Specialty Insurance Group, Inc.\* | 11960 | 568818 |
|  Slide Insurance Holdings, Inc.\* | 8646 | 136477 |
|  Stewart Information Services Corp. | 8788 | 644336 |
|  Tiptree, Inc., Class A | 7723 | 148050 |
|  Trupanion, Inc.\* | 11717 | 507112 |
|  United Fire Group, Inc. | 6874 | 209107 |
|  Universal Insurance Holdings, Inc. | 8050 | 211715 |
|  |  | 17599669 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.8%)*** |  |  |
|  ACRES Commercial Realty Corp. (REIT)\* | 1701 | 35993 |
|  Adamas Trust, Inc. (REIT) | 24758 | 172563 |
|  Advanced Flower Capital, Inc. (REIT)(x) | 5774 | 22114 |
|  AG Mortgage Investment Trust, Inc. (REIT) | 10418 | 75426 |
|  Angel Oak Mortgage REIT, Inc. (REIT) | 5892 | 55208 |
|  Apollo Commercial Real Estate Finance, Inc. (REIT) | 42124 | 426716 |
|  Arbor Realty Trust, Inc. (REIT)(x) | 60935 | 744016 |
|  Ares Commercial Real Estate Corp. (REIT)(x) | 20267 | 91404 |
|  ARMOUR Residential REIT, Inc. (REIT)(x) | 33027 | 493423 |
|  Blackstone Mortgage Trust, Inc. (REIT), Class A(x) | 50534 | 930331 |
|  BrightSpire Capital, Inc. (REIT), Class A | 44589 | 242118 |
|  Chicago Atlantic Real Estate Finance, Inc. (REIT) | 5859 | 74937 |
|  Chimera Investment Corp. (REIT) | 25332 | 334889 |
|  Claros Mortgage Trust, Inc. (REIT)\* | 33694 | 111864 |
|  Dynex Capital, Inc. (REIT)(x) | 37812 | 464710 |
|  Ellington Financial, Inc. (REIT)(x) | 29459 | 382378 |
|  Franklin BSP Realty Trust, Inc. (REIT) | 24825 | 269600 |
|  Invesco Mortgage Capital, Inc. (REIT)(x) | 22592 | 170796 |
|  KKR Real Estate Finance Trust, Inc. (REIT) | 19206 | 172854 |
|  Ladder Capital Corp. (REIT) | 36204 | 394986 |
|  Lument Finance Trust, Inc. (REIT) | 7470 | 15089 |
|  MFA Financial, Inc. (REIT) | 31950 | 293621 |
|  Nexpoint Real Estate Finance, Inc. (REIT) | 4085 | 57925 |
|  Orchid Island Capital, Inc. (REIT)(x) | 38169 | 267565 |
|  PennyMac Mortgage Investment Trust (REIT) | 28585 | 350452 |
|  Ready Capital Corp. (REIT)(x) | 55403 | 214410 |
|  Redwood Trust, Inc. (REIT) | 43489 | 251801 |
|  Rithm Property Trust, Inc. (REIT) | 8353 | 21050 |
|  Seven Hills Realty Trust (REIT) | 4298 | 44312 |
|  Sunrise Realty Trust, Inc. (REIT) | 4168 | 43306 |
|  TPG RE Finance Trust, Inc. (REIT) | 22395 | 191701 |
|  Two Harbors Investment Corp. (REIT)(x) | 34890 | 344364 |
|  |  | 7761922 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 160583208 |
|  **Health Care (14.4%)** |  |  |
|  ***Biotechnology (6.7%)*** |  |  |
|  4D Molecular Therapeutics, Inc.(x)\* | 13372 | 116203 |
|  89bio, Inc.\* | 38984 | 573065 |
|  Abeona Therapeutics, Inc.\* | 10035 | 52985 |
|  Absci Corp.(x)\* | 36424 | 110729 |
|  ACADIA Pharmaceuticals, Inc.\* | 40675 | 868004 |
|  Actuate Therapeutics, Inc.\* | 1204 | 8055 |
|  ADC Therapeutics SA\* | 33617 | 134468 |
|  ADMA Biologics, Inc.\* | 72609 | 1064448 |
|  Agios Pharmaceuticals, Inc.\* | 17895 | 718305 |
|  Akebia Therapeutics, Inc.(x)\* | 76743 | 209508 |
|  Akero Therapeutics, Inc.\* | 22510 | 1068775 |
|  Aldeyra Therapeutics, Inc.\* | 18431 | 96210 |
|  Alector, Inc.\* | 18586 | 55015 |
|  Alkermes plc\* | 51855 | 1555650 |
|  Allogene Therapeutics, Inc.\* | 59217 | 73429 |
|  Altimmune, Inc.\* | 22795 | 85937 |
|  Amicus Therapeutics, Inc.\* | 91672 | 722375 |
|  AnaptysBio, Inc.(x)\* | 6537 | 200163 |
|  Anavex Life Sciences Corp.(x)\* | 26153 | 232762 |
|  Anika Therapeutics, Inc.\* | 4438 | 41717 |
|  Annexon, Inc.\* | 31487 | 96035 |
|  Apogee Therapeutics, Inc.\* | 11022 | 437904 |
|  Arbutus Biopharma Corp.\* | 43761 | 198675 |
|  Arcellx, Inc.\* | 11059 | 907944 |
|  Arcturus Therapeutics Holdings, Inc.(x)\* | 9061 | 166994 |
|  Arcus Biosciences, Inc.\* | 21027 | 285967 |
|  Arcutis Biotherapeutics, Inc.\* | 35185 | 663237 |
|  Ardelyx, Inc.\* | 77446 | 426727 |
|  ArriVent Biopharma, Inc.(x)\* | 7016 | 129445 |
|  Arrowhead Pharmaceuticals, Inc.\* | 39140 | 1349939 |
|  ARS Pharmaceuticals, Inc.(x)\* | 18210 | 183010 |
|  Astria Therapeutics, Inc.(x)\* | 12426 | 90461 |
|  aTyr Pharma, Inc.(x)\* | 29368 | 21186 |
|  Aura Biosciences, Inc.(x)\* | 14498 | 89598 |
|  Aurinia Pharmaceuticals, Inc.\* | 36721 | 405767 |
|  Avidity Biosciences, Inc.\* | 31859 | 1388097 |
|  Avita Medical, Inc.(x)\* | 2262 | 11559 |
|  Beam Therapeutics, Inc.(x)\* | 30318 | 735818 |
|  Benitec Biopharma, Inc.\* | 3262 | 45766 |
|  Bicara Therapeutics, Inc.\* | 11612 | 183353 |
|  BioCryst Pharmaceuticals, Inc.\* | 68667 | 521183 |
|  Biohaven Ltd.\* | 28184 | 423042 |
|  Bridgebio Pharma, Inc.\* | 49320 | 2561681 |
|  Bright Minds Biosciences, Inc.\* | 1021 | 61934 |
|  Candel Therapeutics, Inc.(x)\* | 17650 | 90015 |
|  Capricor Therapeutics, Inc.(x)\* | 12932 | 93240 |
|  Cardiff Oncology, Inc.(x)\* | 13824 | 28477 |
|  CareDx, Inc.\* | 16988 | 247005 |
|  Cartesian Therapeutics, Inc.(x)\* | 4429 | 45264 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Catalyst Pharmaceuticals, Inc.\* | 36704 | $723069 |
|  Celcuity, Inc.\* | 8991 | 444155 |
|  Celldex Therapeutics, Inc.\* | 21411 | 553903 |
|  CG oncology, Inc.(x)\* | 17374 | 699825 |
|  Cidara Therapeutics, Inc.\* | 5021 | 480811 |
|  Cogent Biosciences, Inc.\* | 38765 | 556665 |
|  Coherus Oncology, Inc.(x)\* | 36755 | 60278 |
|  Compass Therapeutics, Inc.\* | 28661 | 100313 |
|  Corvus Pharmaceuticals, Inc.(x)\* | 12029 | 88654 |
|  CRISPR Therapeutics AG(x)\* | 26285 | 1703531 |
|  Cullinan Therapeutics, Inc.\* | 15925 | 94435 |
|  Cytokinetics, Inc.\* | 37535 | 2062924 |
|  Day One Biopharmaceuticals, Inc.\* | 22217 | 156630 |
|  Denali Therapeutics, Inc.\* | 42763 | 620919 |
|  Design Therapeutics, Inc.(x)\* | 6724 | 50632 |
|  DiaMedica Therapeutics, Inc.\* | 7536 | 51772 |
|  Dianthus Therapeutics, Inc.\* | 5879 | 231339 |
|  Disc Medicine, Inc.\* | 7489 | 494873 |
|  Dynavax Technologies Corp.(x)\* | 32368 | 321414 |
|  Dyne Therapeutics, Inc.\* | 32458 | 410594 |
|  Editas Medicine, Inc.\* | 27408 | 95106 |
|  Eledon Pharmaceuticals, Inc.\* | 13073 | 33859 |
|  Emergent BioSolutions, Inc.\* | 12467 | 109959 |
|  Enanta Pharmaceuticals, Inc.\* | 4465 | 53446 |
|  Entrada Therapeutics, Inc.\* | 10423 | 60453 |
|  Erasca, Inc.\* | 77384 | 168697 |
|  Fate Therapeutics, Inc.\* | 34303 | 43222 |
|  Fennec Pharmaceuticals, Inc.\* | 5733 | 53661 |
|  Foghorn Therapeutics, Inc.\* | 10683 | 52240 |
|  Geron Corp.\* | 175786 | 240827 |
|  Gossamer Bio, Inc.\* | 60376 | 158789 |
|  GRAIL, Inc.\* | 9778 | 578173 |
|  Greenwich Lifesciences, Inc.(x)\* | 1876 | 18666 |
|  Gyre Therapeutics, Inc.\* | 5495 | 40993 |
|  Heron Therapeutics, Inc.(x)\* | 49610 | 62509 |
|  Humacyte, Inc.(x)\* | 35416 | 61624 |
|  Ideaya Biosciences, Inc.\* | 26088 | 709854 |
|  ImmunityBio, Inc.(x)\* | 74982 | 184456 |
|  Immunome, Inc.(x)\* | 23183 | 271473 |
|  Immunovant, Inc.\* | 21196 | 341680 |
|  Inhibikase Therapeutics, Inc.(x)\* | 12896 | 20891 |
|  Inhibrx Biosciences, Inc.\* | 3966 | 133575 |
|  Inmune Bio, Inc.(x)\* | 4030 | 8342 |
|  Intellia Therapeutics, Inc.(x)\* | 31763 | 548547 |
|  Iovance Biotherapeutics, Inc.(x)\* | 80751 | 175230 |
|  Ironwood Pharmaceuticals, Inc., Class A\* | 47946 | 62809 |
|  Jade Biosciences, Inc.(x) | 7427 | 64095 |
|  Janux Therapeutics, Inc.\* | 11756 | 287317 |
|  KalVista Pharmaceuticals, Inc.\* | 11186 | 136245 |
|  Keros Therapeutics, Inc.\* | 7585 | 119995 |
|  Kodiak Sciences, Inc.\* | 7471 | 122300 |
|  Korro Bio, Inc.\* | 1574 | 75379 |
|  Krystal Biotech, Inc.\* | 7753 | 1368637 |
|  Kura Oncology, Inc.\* | 24694 | 218542 |
|  Kymera Therapeutics, Inc.\* | 15305 | 866263 |
|  Larimar Therapeutics, Inc.\* | 14498 | 46829 |
|  Lexeo Therapeutics, Inc.\* | 8590 | 57038 |
|  Madrigal Pharmaceuticals, Inc.\* | 5853 | 2684537 |
|  MannKind Corp.\* | 92122 | 494695 |
|  MeiraGTx Holdings plc\* | 15204 | 125129 |
|  Metsera, Inc.(x)\* | 16523 | 864649 |
|  MiMedx Group, Inc.\* | 40907 | 285531 |
|  Mineralys Therapeutics, Inc.\* | 12158 | 461031 |
|  Mirum Pharmaceuticals, Inc.\* | 13010 | 953763 |
|  Monopar Therapeutics, Inc.\* | 916 | 74810 |
|  Monte Rosa Therapeutics, Inc.(x)\* | 13195 | 97775 |
|  Myriad Genetics, Inc.\* | 30033 | 217139 |
|  Neurogene, Inc.(x)\* | 3321 | 57553 |
|  Nkarta, Inc.\* | 14572 | 30164 |
|  Novavax, Inc.(x)\* | 48460 | 420148 |
|  Nurix Therapeutics, Inc.\* | 23128 | 213703 |
|  Nuvalent, Inc., Class A\* | 13659 | 1181230 |
|  Nuvectis Pharma, Inc.(x)\* | 2855 | 17187 |
|  Olema Pharmaceuticals, Inc.\* | 18591 | 182006 |
|  Organogenesis Holdings, Inc., Class A\* | 24271 | 102424 |
|  ORIC Pharmaceuticals, Inc.(x)\* | 17947 | 215364 |
|  Oruka Therapeutics, Inc.(x)\* | 7792 | 149840 |
|  Palvella Therapeutics, Inc.\* | 1546 | 96919 |
|  PDL BioPharma, Inc.(r)\* | 24135 |  |
|  Perspective Therapeutics, Inc.(x)\* | 18855 | 64673 |
|  Praxis Precision Medicines, Inc.\* | 5796 | 307188 |
|  Precigen, Inc.(x)\* | 34279 | 112778 |
|  Prime Medicine, Inc.(x)\* | 16046 | 88895 |
|  Protagonist Therapeutics, Inc.\* | 18982 | 1260974 |
|  Protalix BioTherapeutics, Inc.\* | 15471 | 34346 |
|  Protara Therapeutics, Inc.(x)\* | 7195 | 31298 |
|  Prothena Corp. plc\* | 14401 | 140554 |
|  PTC Therapeutics, Inc.\* | 25125 | 1541921 |
|  Puma Biotechnology, Inc.\* | 9361 | 49707 |
|  Recursion Pharmaceuticals, Inc., Class A(x)\* | 113299 | 552899 |
|  REGENXBIO, Inc.\* | 14460 | 139539 |
|  Relay Therapeutics, Inc.\* | 46420 | 242312 |
|  Replimune Group, Inc.\* | 21085 | 88346 |
|  Rezolute, Inc.\* | 25116 | 236090 |
|  Rhythm Pharmaceuticals, Inc.\* | 16704 | 1686937 |
|  Rigel Pharmaceuticals, Inc.\* | 5642 | 159838 |
|  Rocket Pharmaceuticals, Inc.\* | 24795 | 80832 |
|  Sana Biotechnology, Inc.\* | 52045 | 184760 |
|  Savara, Inc.\* | 26751 | 95501 |
|  Scholar Rock Holding Corp.\* | 25432 | 947088 |
|  SELLAS Life Sciences Group, Inc.(x)\* | 21768 | 35046 |
|  Sionna Therapeutics, Inc.(x)\* | 4065 | 119552 |
|  Soleno Therapeutics, Inc.(x)\* | 13159 | 889548 |
|  Solid Biosciences, Inc.\* | 17680 | 109086 |
|  Spyre Therapeutics, Inc.(x)\* | 14730 | 246875 |
|  Stoke Therapeutics, Inc.\* | 13510 | 317485 |
|  Syndax Pharmaceuticals, Inc.\* | 27752 | 426965 |
|  Tango Therapeutics, Inc.(x)\* | 20687 | 173771 |
|  Taysha Gene Therapies, Inc.\* | 65742 | 214976 |
|  Tectonic Therapeutic, Inc.(x)\* | 4235 | 66447 |
|  Tevogen Bio Holdings, Inc.(x)\* | 5177 | 4065 |
|  TG Therapeutics, Inc.(x)\* | 45596 | 1647155 |
|  Tonix Pharmaceuticals Holding Corp.\* | 1736 | 41942 |
|  Tourmaline Bio, Inc.\* | 5541 | 265026 |
|  Travere Therapeutics, Inc.\* | 27517 | 657656 |
|  TriSalus Life Sciences, Inc.\* | 3070 | 14275 |
|  TuHURA Biosciences, Inc.\* | 5310 | 13169 |
|  Twist Bioscience Corp.\* | 19282 | 542595 |
|  Tyra Biosciences, Inc.(x)\* | 9082 | 127057 |
|  Upstream Bio, Inc.\* | 7243 | 136241 |
|  UroGen Pharma Ltd.\* | 11363 | 226692 |
|  Vanda Pharmaceuticals, Inc.\* | 20675 | 103168 |
|  Vaxcyte, Inc.\* | 37123 | 1337170 |
|  Vera Therapeutics, Inc., Class A\* | 15883 | 461560 |
|  Veracyte, Inc.\* | 24497 | 840982 |
|  Verastem, Inc.\* | 10552 | 93174 |
|  Vericel Corp.\* | 16516 | 519759 |
|  Vir Biotechnology, Inc.\* | 29835 | 170358 |
|  Viridian Therapeutics, Inc.\* | 22180 | 478644 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Voyager Therapeutics, Inc.\* | 14721 | $68747 |
|  Xencor, Inc.\* | 21804 | 255761 |
|  Xenon Pharmaceuticals, Inc.\* | 24084 | 966973 |
|  XOMA Royalty Corp.\* | 2458 | 94731 |
|  Zenas Biopharma, Inc.(x)\* | 5667 | 125807 |
|  Zymeworks, Inc.\* | 16499 | 281803 |
|  |  | 66481917 |
|  ***Health Care Equipment & Supplies (2.2%)*** |  |  |
|  Accuray, Inc.\* | 23288 | 38891 |
|  Alphatec Holdings, Inc.\* | 35880 | 521695 |
|  AngioDynamics, Inc.\* | 13415 | 149846 |
|  Anteris Technologies Global Corp.(x)\* | 6908 | 31086 |
|  Artivion, Inc.\* | 12338 | 522391 |
|  AtriCure, Inc.\* | 14869 | 524132 |
|  Avanos Medical, Inc.\* | 9828 | 113612 |
|  Axogen, Inc.\* | 14047 | 250599 |
|  Beta Bionics, Inc.(x)\* | 11738 | 233234 |
|  Bioventus, Inc., Class A\* | 14463 | 96758 |
|  Butterfly Network, Inc., Class A\* | 68450 | 132109 |
|  Carlsmed, Inc.(x)\* | 1107 | 14823 |
|  Ceribell, Inc.\* | 7121 | 81820 |
|  Cerus Corp.\* | 49315 | 78411 |
|  ClearPoint Neuro, Inc.(x)\* | 9213 | 200751 |
|  CONMED Corp. | 10066 | 473404 |
|  CVRx, Inc.\* | 3432 | 27696 |
|  Delcath Systems, Inc.(x)\* | 10391 | 111703 |
|  Electromed, Inc.\* | 1545 | 37930 |
|  Embecta Corp. | 19784 | 279152 |
|  Enovis Corp.(x)\* | 18295 | 555070 |
|  Glaukos Corp.\* | 17618 | 1436748 |
|  Haemonetics Corp.\* | 15633 | 761952 |
|  ICU Medical, Inc.\* | 7558 | 906658 |
|  Inogen, Inc.\* | 9219 | 75319 |
|  Integer Holdings Corp.\* | 10802 | 1116171 |
|  Integra LifeSciences Holdings Corp.\* | 22237 | 318656 |
|  iRadimed Corp. | 2545 | 181102 |
|  iRhythm Technologies, Inc.\* | 10076 | 1732971 |
|  Kestra Medical Technologies Ltd.(x)\* | 5642 | 134054 |
|  KORU Medical Systems, Inc.\* | 9139 | 35002 |
|  Lantheus Holdings, Inc.\* | 21787 | 1117455 |
|  LeMaitre Vascular, Inc. | 6793 | 594455 |
|  LENSAR, Inc.\* | 2200 | 27170 |
|  LivaNova plc\* | 17450 | 914031 |
|  Lucid Diagnostics, Inc.\* | 15117 | 15268 |
|  Merit Medical Systems, Inc.\* | 18427 | 1533679 |
|  Myomo, Inc.(x)\* | 7283 | 6497 |
|  Neogen Corp.\* | 71904 | 410572 |
|  Neuronetics, Inc.(x)\* | 14364 | 39214 |
|  NeuroPace, Inc.\* | 8555 | 88202 |
|  Novocure Ltd.\* | 33889 | 437846 |
|  Omnicell, Inc.\* | 14799 | 450630 |
|  OraSure Technologies, Inc.\* | 20267 | 65057 |
|  Orthofix Medical, Inc.\* | 12186 | 178403 |
|  OrthoPediatrics Corp.\* | 5427 | 100562 |
|  Outset Medical, Inc.(x)\* | 6465 | 91286 |
|  PROCEPT BioRobotics Corp.\* | 16828 | 600591 |
|  Pro-Dex, Inc.(x)\* | 478 | 16180 |
|  Pulmonx Corp.\* | 12554 | 20338 |
|  Pulse Biosciences, Inc.\* | 5759 | 101934 |
|  QuidelOrtho Corp.\* | 21735 | 640096 |
|  RxSight, Inc.\* | 10743 | 96580 |
|  Sanara Medtech, Inc.\* | 1600 | 50768 |
|  SANUWAVE Health, Inc.\* | 1605 | 60155 |
|  Semler Scientific, Inc.(x)\* | 3774 | 113220 |
|  Shoulder Innovations, Inc.(x)\* | 837 | 10504 |
|  SI-BONE, Inc.\* | 9088 | 133775 |
|  Sight Sciences, Inc.\* | 13362 | 45965 |
|  STAAR Surgical Co.\* | 15193 | 408236 |
|  Stereotaxis, Inc.\* | 13764 | 42806 |
|  Surmodics, Inc.\* | 4462 | 133369 |
|  Tactile Systems Technology, Inc.\* | 7834 | 108423 |
|  Tandem Diabetes Care, Inc.\* | 21694 | 263365 |
|  TransMedics Group, Inc.(x)\* | 10700 | 1200540 |
|  Treace Medical Concepts, Inc.\* | 14734 | 98865 |
|  UFP Technologies, Inc.\* | 2402 | 479439 |
|  Utah Medical Products, Inc. | 1101 | 69330 |
|  Varex Imaging Corp.\* | 9469 | 117416 |
|  Zimvie, Inc.\* | 8634 | 163528 |
|  |  | 22219496 |
|  ***Health Care Providers & Services (2.9%)*** |  |  |
|  AdaptHealth Corp., Class A\* | 32651 | 292226 |
|  Addus HomeCare Corp.\* | 5642 | 665700 |
|  agilon health, Inc.\* | 103614 | 106722 |
|  AirSculpt Technologies, Inc.(x)\* | 3879 | 31110 |
|  Alignment Healthcare, Inc.\* | 44514 | 776769 |
|  AMN Healthcare Services, Inc.\* | 12163 | 235476 |
|  Ardent Health, Inc.\* | 5238 | 69403 |
|  Astrana Health, Inc.(x)\* | 13836 | 392251 |
|  Aveanna Healthcare Holdings, Inc.\* | 10688 | 94803 |
|  BrightSpring Health Services, Inc.\* | 28802 | 851387 |
|  Brookdale Senior Living, Inc.\* | 73708 | 624307 |
|  Castle Biosciences, Inc.\* | 8956 | 203928 |
|  Clover Health Investments Corp., Class A(x)\* | 129432 | 396062 |
|  Community Health Systems, Inc.\* | 42211 | 135497 |
|  Concentra Group Holdings Parent, Inc. | 36259 | 758901 |
|  CorVel Corp.\* | 9341 | 723180 |
|  Cross Country Healthcare, Inc.\* | 8166 | 115957 |
|  DocGo, Inc.(x)\* | 29268 | 39804 |
|  Enhabit, Inc.\* | 11964 | 95832 |
|  Ensign Group, Inc. (The) | 17574 | 3036260 |
|  Fulgent Genetics, Inc.\* | 6476 | 146358 |
|  GeneDx Holdings Corp., Class A\* | 5894 | 635020 |
|  Guardant Health, Inc.\* | 37659 | 2352934 |
|  HealthEquity, Inc.\* | 27186 | 2576417 |
|  Hims & Hers Health, Inc.\* | 60558 | 3434850 |
|  Innovage Holding Corp.\* | 10412 | 53726 |
|  Joint Corp. (The)\* | 4449 | 42443 |
|  LifeStance Health Group, Inc.\* | 41275 | 227012 |
|  Nano-X Imaging Ltd.(x)\* | 19254 | 71240 |
|  National HealthCare Corp. | 3983 | 483974 |
|  National Research Corp. | 4932 | 63031 |
|  NeoGenomics, Inc.\* | 43344 | 334616 |
|  Nutex Health, Inc.(x)\* | 1197 | 123674 |
|  Omada Health, Inc.(x)\* | 1926 | 42584 |
|  Oncology Institute, Inc. (The)\* | 13581 | 47398 |
|  OPKO Health, Inc.\* | 120940 | 187457 |
|  Option Care Health, Inc.\* | 52787 | 1465367 |
|  Owens & Minor, Inc.\* | 24496 | 117581 |
|  PACS Group, Inc.\* | 10197 | 140005 |
|  Pediatrix Medical Group, Inc.\* | 28947 | 484862 |
|  Pennant Group, Inc. (The)\* | 10230 | 258001 |
|  Performant Healthcare, Inc.(x)\* | 15950 | 123293 |
|  Premier, Inc., Class A | 27025 | 751295 |
|  Privia Health Group, Inc.\* | 36899 | 918785 |
|  Progyny, Inc.\* | 24538 | 528058 |
|  RadNet, Inc.\* | 21618 | 1647508 |
|  SBC Medical Group Holdings, Inc.(x)\* | 2332 | 10121 |
|  Select Medical Holdings Corp. | 36258 | 465553 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Sonida Senior Living, Inc.\* | 2045 | $56687 |
|  Surgery Partners, Inc.\* | 25066 | 542428 |
|  Talkspace, Inc.\* | 39017 | 107687 |
|  US Physical Therapy, Inc. | 4806 | 408270 |
|  Viemed Healthcare, Inc.\* | 9067 | 61565 |
|  |  | 28555375 |
|  ***Health Care Technology (0.4%)*** |  |  |
|  Claritev Corp.(x)\* | 2876 | 152658 |
|  Definitive Healthcare Corp., Class A\* | 14425 | 58565 |
|  Evolent Health, Inc., Class A\* | 38040 | 321818 |
|  Health Catalyst, Inc.\* | 21069 | 60047 |
|  HealthStream, Inc. | 7789 | 219961 |
|  LifeMD, Inc.\* | 8644 | 58693 |
|  OptimizeRx Corp.\* | 4187 | 85833 |
|  Phreesia, Inc.\* | 18206 | 428205 |
|  Schrodinger, Inc.\* | 17912 | 359315 |
|  Simulations Plus, Inc.\* | 5089 | 76691 |
|  Teladoc Health, Inc.(x)\* | 55897 | 432084 |
|  TruBridge, Inc.\* | 3609 | 72794 |
|  Waystar Holding Corp.\* | 34506 | 1308468 |
|  |  | 3635132 |
|  ***Life Sciences Tools & Services (0.4%)*** |  |  |
|  10X Genomics, Inc., Class A(x)\* | 33882 | 396080 |
|  Adaptive Biotechnologies Corp.\* | 43204 | 646332 |
|  Alpha Teknova, Inc.(x)\* | 4961 | 30709 |
|  Atlantic International Corp.(x)\* | 2165 | 6603 |
|  Azenta, Inc.\* | 13137 | 377295 |
|  BioLife Solutions, Inc.\* | 11674 | 297804 |
|  Codexis, Inc.\* | 28795 | 70260 |
|  CryoPort, Inc.\* | 16131 | 152922 |
|  Cytek Biosciences, Inc.\* | 37473 | 130031 |
|  Fortrea Holdings, Inc.\* | 28443 | 239490 |
|  Ginkgo Bioworks Holdings, Inc., Class A\* | 8937 | 130301 |
|  Lifecore Biomedical, Inc.\* | 7608 | 55995 |
|  Maravai LifeSciences Holdings, Inc., Class A(x)\* | 41957 | 120417 |
|  MaxCyte, Inc.\* | 32655 | 51595 |
|  Mesa Laboratories, Inc. | 1691 | 113314 |
|  Niagen Bioscience, Inc.\* | 15483 | 144456 |
|  OmniAb, Inc.\* | 30543 | 48869 |
|  Pacific Biosciences of California, Inc.(x)\* | 88528 | 113316 |
|  Personalis, Inc.\* | 19446 | 126788 |
|  Quanterix Corp.(x)\* | 12077 | 65578 |
|  Quantum-Si, Inc.(x)\* | 66491 | 93752 |
|  Standard BioTools, Inc.\* | 99763 | 129692 |
|  |  | 3541599 |
|  ***Pharmaceuticals (1.8%)*** |  |  |
|  Aardvark Therapeutics, Inc.\* | 1680 | 22327 |
|  Aclaris Therapeutics, Inc.\* | 20064 | 38122 |
|  Alumis, Inc.(x)\* | 20086 | 80143 |
|  Amneal Pharmaceuticals, Inc.\* | 47230 | 472772 |
|  Amphastar Pharmaceuticals, Inc.\* | 12388 | 330140 |
|  Amylyx Pharmaceuticals, Inc.\* | 23586 | 320534 |
|  ANI Pharmaceuticals, Inc.\* | 6023 | 551707 |
|  Aquestive Therapeutics, Inc.(x)\* | 23684 | 132394 |
|  Arvinas, Inc.\* | 21311 | 181570 |
|  Atea Pharmaceuticals, Inc.\* | 18162 | 52670 |
|  Avadel Pharmaceuticals plc (ADR)\* | 29737 | 454084 |
|  Axsome Therapeutics, Inc.\* | 12769 | 1550795 |
|  BioAge Labs, Inc.(x)\* | 5284 | 31070 |
|  Biote Corp., Class A\* | 9534 | 28602 |
|  Collegium Pharmaceutical, Inc.\* | 10975 | 384015 |
|  CorMedix, Inc.(x)\* | 21100 | 245393 |
|  Crinetics Pharmaceuticals, Inc.\* | 28766 | 1198104 |
|  Edgewise Therapeutics, Inc.\* | 22398 | 363296 |
|  Enliven Therapeutics, Inc.\* | 12765 | 261300 |
|  Esperion Therapeutics, Inc.\* | 45816 | 121412 |
|  Eton Pharmaceuticals, Inc.\* | 5952 | 129337 |
|  Evolus, Inc.\* | 16401 | 100702 |
|  EyePoint Pharmaceuticals, Inc.\* | 20598 | 293316 |
|  Fulcrum Therapeutics, Inc.\* | 16356 | 150475 |
|  Harmony Biosciences Holdings, Inc.\* | 13597 | 374733 |
|  Harrow, Inc.(x)\* | 9931 | 478476 |
|  Indivior plc\* | 38447 | 926957 |
|  Innoviva, Inc.\* | 20198 | 368613 |
|  Journey Medical Corp.\* | 2634 | 18754 |
|  LENZ Therapeutics, Inc.\* | 5308 | 247247 |
|  Ligand Pharmaceuticals, Inc.\* | 6034 | 1068863 |
|  Liquidia Corp.\* | 21685 | 493117 |
|  Maze Therapeutics, Inc.(x)\* | 7754 | 201061 |
|  MBX Biosciences, Inc.\* | 6579 | 115133 |
|  MediWound Ltd.(x)\* | 1707 | 30760 |
|  Mind Medicine MindMed, Inc.(x)\* | 24000 | 282960 |
|  Nuvation Bio, Inc.(x)\* | 81040 | 299848 |
|  Ocular Therapeutix, Inc.\* | 43836 | 512443 |
|  Omeros Corp.(x)\* | 13262 | 54374 |
|  Pacira BioSciences, Inc.\* | 15614 | 402373 |
|  Phathom Pharmaceuticals, Inc.\* | 9684 | 113981 |
|  Phibro Animal Health Corp., Class A | 6514 | 263556 |
|  Prestige Consumer Healthcare, Inc.\* | 15573 | 971755 |
|  Rapport Therapeutics, Inc.\* | 3978 | 118147 |
|  scPharmaceuticals, Inc.\* | 7899 | 44787 |
|  Septerna, Inc.(x)\* | 9440 | 177566 |
|  SIGA Technologies, Inc.(x) | 10649 | 97438 |
|  Supernus Pharmaceuticals, Inc.\* | 17076 | 816062 |
|  Tarsus Pharmaceuticals, Inc.\* | 12575 | 747332 |
|  Terns Pharmaceuticals, Inc.\* | 23044 | 173060 |
|  Theravance Biopharma, Inc.\* | 11615 | 169579 |
|  Third Harmonic Bio, Inc.(r)\* | 7949 |  |
|  Trevi Therapeutics, Inc.(x)\* | 28500 | 260775 |
|  Tvardi Therapeutics, Inc.(x)\* | 1133 | 44153 |
|  WaVe Life Sciences Ltd.\* | 34134 | 249861 |
|  Xeris Biopharma Holdings, Inc.\* | 47273 | 384802 |
|  Zevra Therapeutics, Inc.\* | 17299 | 164513 |
|  |  | 18167359 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 142600878 |
|  **Industrials (16.0%)** |  |  |
|  ***Aerospace & Defense (1.8%)*** |  |  |
|  AAR Corp.\* | 11252 | 1008967 |
|  AeroVironment, Inc.(x)\* | 10141 | 3193300 |
|  AerSale Corp.\* | 10939 | 89590 |
|  AIRO Group Holdings, Inc.\* | 910 | 17472 |
|  Archer Aviation, Inc., Class A\* | 175190 | 1678320 |
|  Astronics Corp.\* | 9534 | 434846 |
|  Byrna Technologies, Inc.(x)\* | 6319 | 140029 |
|  Cadre Holdings, Inc. | 9066 | 331000 |
|  Ducommun, Inc.\* | 4565 | 438833 |
|  Eve Holding, Inc.(x)\* | 20557 | 78322 |
|  Intuitive Machines, Inc.(x)\* | 35094 | 369189 |
|  Kratos Defense & Security Solutions, Inc.\* | 52812 | 4825432 |
|  Mercury Systems, Inc.\* | 16260 | 1258524 |
|  Moog, Inc., Class A | 8948 | 1858231 |
|  National Presto Industries, Inc. | 1479 | 165870 |
|  Park Aerospace Corp. | 5013 | 101964 |
|  Redwire Corp.(x)\* | 13781 | 123891 |
|  Satellogic, Inc., Class A(x)\* | 16242 | 53274 |
|  V2X, Inc.\* | 5851 | 339885 |
|  Voyager Technologies, Inc., Class A\* | 2849 | 84843 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  VSE Corp. | 6461 | $1074077 |
|  |  | 17665859 |
|  ***Air Freight & Logistics (0.1%)*** |  |  |
|  Forward Air Corp.\* | 7562 | 193890 |
|  Hub Group, Inc., Class A | 17334 | 596983 |
|  Radiant Logistics, Inc.\* | 11244 | 66339 |
|  |  | 857212 |
|  ***Building Products (1.2%)*** |  |  |
|  American Woodmark Corp.\* | 4733 | 315975 |
|  Apogee Enterprises, Inc. | 6645 | 289523 |
|  AZZ, Inc. | 9280 | 1012726 |
|  CSW Industrials, Inc. | 5204 | 1263271 |
|  Gibraltar Industries, Inc.\* | 9556 | 600117 |
|  Griffon Corp. | 12287 | 935655 |
|  Insteel Industries, Inc. | 5941 | 227778 |
|  Janus International Group, Inc.\* | 45239 | 446509 |
|  JELD-WEN Holding, Inc.\* | 19689 | 96673 |
|  Masterbrand, Inc.\* | 40364 | 531594 |
|  Quanex Building Products Corp. | 14586 | 207413 |
|  Resideo Technologies, Inc.\* | 43472 | 1877121 |
|  Tecnoglass, Inc. | 7823 | 523437 |
|  UFP Industries, Inc. | 18705 | 1748730 |
|  Zurn Elkay Water Solutions Corp. | 47313 | 2225130 |
|  |  | 12301652 |
|  ***Commercial Services & Supplies (1.4%)*** |  |  |
|  ABM Industries, Inc. | 19214 | 886150 |
|  ACCO Brands Corp. | 20245 | 80778 |
|  Acme United Corp.(x) | 706 | 29073 |
|  ACV Auctions, Inc., Class A\* | 53922 | 534367 |
|  BrightView Holdings, Inc.\* | 21083 | 282512 |
|  Brink's Co. (The) | 13065 | 1526776 |
|  Casella Waste Systems, Inc., Class A\* | 20043 | 1901680 |
|  CECO Environmental Corp.\* | 9796 | 501555 |
|  Cimpress plc\* | 5398 | 340290 |
|  CompX International, Inc.(x) | 533 | 12472 |
|  CoreCivic, Inc.\* | 33773 | 687280 |
|  Deluxe Corp.(x) | 14778 | 286102 |
|  Driven Brands Holdings, Inc.\* | 19683 | 317093 |
|  Ennis, Inc. | 5360 | 97981 |
|  Enviri Corp.\* | 24715 | 313633 |
|  GEO Group, Inc. (The)\* | 43155 | 884246 |
|  Healthcare Services Group, Inc.\* | 23444 | 394562 |
|  HNI Corp. | 14641 | 685931 |
|  Interface, Inc., Class A | 19289 | 558224 |
|  Liquidity Services, Inc.\* | 7438 | 204024 |
|  MillerKnoll, Inc. | 22331 | 396152 |
|  Mobile Infrastructure Corp., Class A(x)\* | 2766 | 9736 |
|  Montrose Environmental Group, Inc.\* | 9902 | 271909 |
|  NL Industries, Inc. | 3714 | 22841 |
|  OPENLANE, Inc.\* | 32647 | 939581 |
|  Perma-Fix Environmental Services, Inc.(x)\* | 3771 | 38087 |
|  Pitney Bowes, Inc.(x) | 55698 | 635514 |
|  Quad/Graphics, Inc. | 6553 | 41022 |
|  Steelcase, Inc., Class A | 26198 | 450606 |
|  UniFirst Corp. | 4824 | 806525 |
|  Vestis Corp. | 26643 | 120693 |
|  Virco Mfg. Corp.(x) | 2712 | 21018 |
|  |  | 14278413 |
|  ***Construction & Engineering (2.2%)*** |  |  |
|  Ameresco, Inc., Class A\* | 10190 | 342180 |
|  Arcosa, Inc. | 15264 | 1430389 |
|  Argan, Inc. | 4213 | 1137721 |
|  Bowman Consulting Group Ltd., Class A\* | 5093 | 215740 |
|  Centuri Holdings, Inc.\* | 21983 | 465380 |
|  Concrete Pumping Holdings, Inc. | 5900 | 41595 |
|  Construction Partners, Inc., Class A\* | 14890 | 1891030 |
|  Dycom Industries, Inc.\* | 8869 | 2587619 |
|  Fluor Corp.\* | 51673 | 2173883 |
|  Granite Construction, Inc.(x) | 14089 | 1544859 |
|  Great Lakes Dredge & Dock Corp.\* | 21632 | 259368 |
|  IES Holdings, Inc.(x)\* | 2895 | 1151197 |
|  Limbach Holdings, Inc.(x)\* | 3250 | 315640 |
|  Matrix Service Co.\* | 5947 | 77787 |
|  MYR Group, Inc.\* | 4875 | 1014146 |
|  NWPX Infrastructure, Inc.\* | 2212 | 117081 |
|  Orion Group Holdings, Inc.\* | 8880 | 73882 |
|  Primoris Services Corp. | 17060 | 2342850 |
|  Southland Holdings, Inc.\* | 3459 | 14839 |
|  Sterling Infrastructure, Inc.\* | 9477 | 3219147 |
|  Tutor Perini Corp.\* | 13792 | 904617 |
|  |  | 21320950 |
|  ***Electrical Equipment (2.1%)*** |  |  |
|  Allient, Inc. | 4150 | 185712 |
|  American Superconductor Corp.\* | 13729 | 815365 |
|  Amprius Technologies, Inc.(x)\* | 30168 | 317367 |
|  Array Technologies, Inc.(x)\* | 50540 | 411901 |
|  Atkore, Inc. | 11074 | 694783 |
|  Bloom Energy Corp., Class A\* | 67389 | 5699088 |
|  Complete Solaria, Inc.(x)\* | 12991 | 22864 |
|  EnerSys | 12431 | 1404206 |
|  Enovix Corp.(x)\* | 52484 | 523265 |
|  Eos Energy Enterprises, Inc.\* | 77650 | 884433 |
|  Fluence Energy, Inc., Class A(x)\* | 26532 | 286546 |
|  Hyliion Holdings Corp.(x)\* | 35348 | 69636 |
|  KULR Technology Group, Inc.(x)\* | 7555 | 31429 |
|  LSI Industries, Inc. | 7543 | 178090 |
|  NANO Nuclear Energy, Inc.(x)\* | 9184 | 354135 |
|  Net Power, Inc.(x)\* | 8054 | 24243 |
|  NEXTracker, Inc., Class A\* | 46009 | 3404206 |
|  NuScale Power Corp., Class A(x)\* | 40313 | 1451268 |
|  Plug Power, Inc.(x)\* | 340287 | 792869 |
|  Powell Industries, Inc.(x) | 3054 | 930890 |
|  Power Solutions International, Inc.\* | 2317 | 227576 |
|  Preformed Line Products Co. | 734 | 143974 |
|  Shoals Technologies Group, Inc., Class A\* | 53985 | 400029 |
|  SKYX Platforms Corp.(x)\* | 12865 | 14409 |
|  Sunrun, Inc.\* | 65956 | 1140379 |
|  T1 Energy, Inc.(x)\* | 23972 | 52259 |
|  Thermon Group Holdings, Inc.\* | 11249 | 300573 |
|  Vicor Corp.\* | 7209 | 358431 |
|  |  | 21119926 |
|  ***Ground Transportation (0.3%)*** |  |  |
|  ArcBest Corp. | 7144 | 499151 |
|  Covenant Logistics Group, Inc., Class A | 4570 | 98986 |
|  FTAI Infrastructure, Inc.(x) | 31728 | 138334 |
|  Heartland Express, Inc. | 13524 | 113331 |
|  Hertz Global Holdings, Inc.(x)\* | 38046 | 258713 |
|  Marten Transport Ltd. | 19588 | 208808 |
|  PAMT Corp.\* | 2326 | 26517 |
|  Proficient Auto Logistics, Inc.(x)\* | 7497 | 51655 |
|  RXO, Inc.\* | 50771 | 780858 |
|  Universal Logistics Holdings, Inc.(x) | 2548 | 59725 |
|  Werner Enterprises, Inc. | 16466 | 433385 |
|  |  | 2669463 |
|  ***Industrial Conglomerates (0.0%)†*** |  |  |
|  Brookfield Business Corp., Class A | 8169 | 273907 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***Machinery (3.5%)*** |  |  |
|  3D Systems Corp.\* | 31419 | $91115 |
|  Aebi Schmidt Holding AG | 7609 | 94884 |
|  AirJoule Technologies Corp.(x)\* | 5759 | 27010 |
|  Alamo Group, Inc. | 3324 | 634552 |
|  Albany International Corp., Class A | 9868 | 525964 |
|  Astec Industries, Inc. | 6906 | 332386 |
|  Atmus Filtration Technologies, Inc. | 25939 | 1169589 |
|  Blue Bird Corp.\* | 10341 | 595125 |
|  Chart Industries, Inc.\* | 14357 | 2873554 |
|  Columbus McKinnon Corp. | 6419 | 92048 |
|  Douglas Dynamics, Inc. | 7139 | 223165 |
|  Eastern Co. (The) | 1246 | 29231 |
|  Energy Recovery, Inc.\* | 16847 | 259781 |
|  Enerpac Tool Group Corp., Class A | 17290 | 708890 |
|  Enpro, Inc. | 6725 | 1519850 |
|  ESCO Technologies, Inc. | 8306 | 1753480 |
|  Federal Signal Corp. | 19070 | 2269139 |
|  Franklin Electric Co., Inc. | 12725 | 1211420 |
|  Gencor Industries, Inc.\* | 2875 | 42061 |
|  Gorman-Rupp Co. (The) | 7169 | 332713 |
|  Graham Corp.\* | 2389 | 131156 |
|  Greenbrier Cos., Inc. (The) | 9673 | 446602 |
|  Helios Technologies, Inc. | 10912 | 568843 |
|  Hillenbrand, Inc. | 23182 | 626841 |
|  Hillman Solutions Corp.\* | 65115 | 597756 |
|  Hyster-Yale, Inc. | 3062 | 112865 |
|  JBT Marel Corp. | 16578 | 2328380 |
|  Kadant, Inc. | 3707 | 1103129 |
|  Kennametal, Inc. | 24578 | 514418 |
|  L B Foster Co., Class A\* | 2603 | 70151 |
|  Lindsay Corp. | 3527 | 495755 |
|  Luxfer Holdings plc | 5993 | 83303 |
|  Manitowoc Co., Inc. (The)\* | 7683 | 76907 |
|  Mayville Engineering Co., Inc.\* | 3583 | 49302 |
|  Microvast Holdings, Inc.(x)\* | 64508 | 248356 |
|  Miller Industries, Inc. | 2449 | 98989 |
|  Mueller Water Products, Inc., Class A | 49931 | 1274239 |
|  Omega Flex, Inc. | 1499 | 46746 |
|  Palladyne AI Corp.(x)\* | 5893 | 50621 |
|  Park-Ohio Holdings Corp. | 2541 | 53971 |
|  Proto Labs, Inc.\* | 8261 | 413298 |
|  REV Group, Inc. | 15241 | 863707 |
|  Richtech Robotics, Inc., Class B(x)\* | 15785 | 67718 |
|  SPX Technologies, Inc.\* | 15250 | 2848395 |
|  Standex International Corp. | 3846 | 814967 |
|  Tennant Co. | 6172 | 500302 |
|  Terex Corp. | 20092 | 1030720 |
|  Titan International, Inc.\* | 11468 | 86698 |
|  Trinity Industries, Inc. | 26321 | 738041 |
|  Wabash National Corp. | 9364 | 92423 |
|  Watts Water Technologies, Inc., Class A | 8733 | 2438952 |
|  Worthington Enterprises, Inc. | 9952 | 552236 |
|  |  | 34211744 |
|  ***Marine Transportation (0.2%)*** |  |  |
|  Costamare Bulkers Holdings Ltd.\* | 4026 | 57854 |
|  Costamare, Inc. | 10099 | 120279 |
|  Genco Shipping & Trading Ltd.(x) | 12063 | 214721 |
|  Himalaya Shipping Ltd. | 9334 | 76819 |
|  Matson, Inc. | 9810 | 967168 |
|  Pangaea Logistics Solutions Ltd. | 15224 | 77338 |
|  Safe Bulkers, Inc. | 24680 | 109579 |
|  |  | 1623758 |
|  ***Passenger Airlines (0.5%)*** |  |  |
|  Allegiant Travel Co.\* | 5128 | 311628 |
|  Frontier Group Holdings, Inc.(x)\* | 19604 | 86552 |
|  JetBlue Airways Corp.(x)\* | 102897 | 506253 |
|  Joby Aviation, Inc.(x)\* | 143215 | 2311490 |
|  SkyWest, Inc.\* | 12809 | 1288842 |
|  Strata Critical Medical, Inc.\* | 22462 | 113658 |
|  Sun Country Airlines Holdings, Inc.\* | 16238 | 191771 |
|  |  | 4810194 |
|  ***Professional Services (1.7%)*** |  |  |
|  Acuren Corp.\* | 55535 | 739171 |
|  Alight, Inc., Class A | 139211 | 453828 |
|  Asure Software, Inc.\* | 6259 | 51324 |
|  Barrett Business Services, Inc. | 8612 | 381684 |
|  BlackSky Technology, Inc., Class A(x)\* | 9295 | 187294 |
|  CBIZ, Inc.\* | 15919 | 843070 |
|  Conduent, Inc.\* | 43668 | 122270 |
|  CRA International, Inc. | 2229 | 464813 |
|  CSG Systems International, Inc. | 9035 | 581673 |
|  Exponent, Inc. | 16192 | 1125020 |
|  First Advantage Corp.\* | 24428 | 375947 |
|  Forrester Research, Inc.\* | 3414 | 36189 |
|  Franklin Covey Co.\* | 2635 | 51145 |
|  Heidrick & Struggles International, Inc. | 6813 | 339083 |
|  HireQuest, Inc.(x) | 1338 | 12872 |
|  Huron Consulting Group, Inc.\* | 5548 | 814280 |
|  IBEX Holdings Ltd.\* | 2338 | 94736 |
|  ICF International, Inc. | 6086 | 564781 |
|  Innodata, Inc.(x)\* | 9519 | 733629 |
|  Insperity, Inc. | 11644 | 572885 |
|  Kelly Services, Inc., Class A | 10094 | 132433 |
|  Kforce, Inc. | 4108 | 123158 |
|  Korn Ferry | 16210 | 1134376 |
|  Legalzoom.com, Inc.\* | 37740 | 391741 |
|  Maximus, Inc. | 17679 | 1615330 |
|  Mistras Group, Inc.\* | 5911 | 58164 |
|  Planet Labs PBC\* | 72600 | 942348 |
|  RCM Technologies, Inc.\* | 1045 | 27745 |
|  Resolute Holdings Management, Inc.\* | 1379 | 99495 |
|  Resources Connection, Inc. | 7393 | 37335 |
|  Skillsoft Corp.(x)\* | 952 | 12395 |
|  Spire Global, Inc.(x)\* | 6366 | 69962 |
|  TriNet Group, Inc. | 9320 | 623415 |
|  TrueBlue, Inc.\* | 8108 | 49702 |
|  TTEC Holdings, Inc.\* | 4880 | 16397 |
|  Upwork, Inc.\* | 39218 | 728278 |
|  Verra Mobility Corp., Class A\* | 50518 | 1247795 |
|  Willdan Group, Inc.\* | 4365 | 422052 |
|  WNS Holdings Ltd.\* | 12285 | 936977 |
|  |  | 17214792 |
|  ***Trading Companies & Distributors (1.0%)*** |  |  |
|  Alta Equipment Group, Inc. | 8663 | 62720 |
|  BlueLinx Holdings, Inc.\* | 2699 | 197243 |
|  Boise Cascade Co. | 11994 | 927376 |
|  Custom Truck One Source, Inc.(x)\* | 21084 | 135359 |
|  Distribution Solutions Group, Inc.\* | 3857 | 116019 |
|  DNOW, Inc.\* | 32462 | 495045 |
|  DXP Enterprises, Inc.\* | 4167 | 496165 |
|  EVI Industries, Inc. | 1831 | 57878 |
|  GATX Corp. | 11369 | 1987301 |
|  Global Industrial Co. | 4533 | 166225 |
|  Herc Holdings, Inc. | 10015 | 1168350 |
|  Hudson Technologies, Inc.\* | 9124 | 90601 |
|  Karat Packaging, Inc. | 2653 | 66882 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  McGrath RentCorp | 7723 | $905908 |
|  MRC Global, Inc.\* | 27117 | 391027 |
|  NPK International, Inc.\* | 23858 | 269834 |
|  Rush Enterprises, Inc., Class A | 19368 | 1035607 |
|  Rush Enterprises, Inc., Class B | 2542 | 145962 |
|  Titan Machinery, Inc.\* | 6821 | 114183 |
|  Transcat, Inc.\* | 2894 | 211841 |
|  Willis Lease Finance Corp. | 819 | 112277 |
|  Xometry, Inc., Class A(x)\* | 13268 | 722708 |
|  |  | 9876511 |
|  ***Transportation Infrastructure (0.0%)†*** |  |  |
|  Sky Harbour Group Corp.(x)\* | 7751 | 76502 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 158300883 |
|  **Information Technology (14.0%)** |  |  |
|  ***Communications Equipment (0.8%)*** |  |  |
|  ADTRAN Holdings, Inc.\* | 24514 | 229941 |
|  Applied Optoelectronics, Inc.(x)\* | 17254 | 447396 |
|  Aviat Networks, Inc.\* | 3643 | 83534 |
|  BK Technologies Corp.\* | 614 | 51871 |
|  Calix, Inc.\* | 18665 | 1145471 |
|  Clearfield, Inc.(x)\* | 3899 | 134048 |
|  CommScope Holding Co., Inc.\* | 67463 | 1044327 |
|  Digi International, Inc.\* | 11697 | 426473 |
|  Extreme Networks, Inc.\* | 39564 | 816997 |
|  Harmonic, Inc.\* | 36346 | 370002 |
|  Inseego Corp.\* | 2760 | 41317 |
|  NETGEAR, Inc.\* | 9720 | 314831 |
|  NetScout Systems, Inc.\* | 22030 | 569035 |
|  Ribbon Communications, Inc.\* | 31452 | 119518 |
|  Viasat, Inc.(x)\* | 36920 | 1081756 |
|  Viavi Solutions, Inc.\* | 69480 | 881701 |
|  |  | 7758218 |
|  ***Electronic Equipment, Instruments & Components (3.0%)*** |  |  |
|  908 Devices, Inc.(x)\* | 6291 | 55109 |
|  Advanced Energy Industries, Inc. | 11790 | 2005951 |
|  Aeva Technologies, Inc.\* | 7122 | 103269 |
|  Arlo Technologies, Inc.\* | 32230 | 546299 |
|  Badger Meter, Inc. | 9405 | 1679545 |
|  Bel Fuse, Inc., Class A | 393 | 45726 |
|  Bel Fuse, Inc., Class B | 3462 | 488211 |
|  Belden, Inc. | 12407 | 1492190 |
|  Benchmark Electronics, Inc. | 12088 | 465992 |
|  Climb Global Solutions, Inc. | 872 | 117580 |
|  CTS Corp. | 9296 | 371282 |
|  Daktronics, Inc.\* | 12145 | 254073 |
|  ePlus, Inc. | 8786 | 623894 |
|  Evolv Technologies Holdings, Inc.\* | 38333 | 289414 |
|  Fabrinet\* | 11405 | 4158491 |
|  Frequency Electronics, Inc.\* | 1477 | 50085 |
|  Insight Enterprises, Inc.\* | 9001 | 1020803 |
|  Itron, Inc.\* | 14366 | 1789429 |
|  Kimball Electronics, Inc.\* | 7866 | 234879 |
|  Knowles Corp.\* | 27794 | 647878 |
|  Methode Electronics, Inc. | 7629 | 57599 |
|  MicroVision, Inc.(x)\* | 56039 | 69488 |
|  Mirion Technologies, Inc., Class A\* | 72746 | 1692072 |
|  M-Tron Industries, Inc.\* | 546 | 30292 |
|  Napco Security Technologies, Inc. | 11090 | 476316 |
|  Neonode, Inc.\* | 2402 | 8383 |
|  nLight, Inc.\* | 15010 | 444746 |
|  Novanta, Inc.\* | 11246 | 1126287 |
|  OSI Systems, Inc.\* | 5060 | 1261154 |
|  Ouster, Inc.\* | 17115 | 462961 |
|  PAR Technology Corp.(x)\* | 12531 | 495977 |
|  PC Connection, Inc. | 3304 | 204815 |
|  Plexus Corp.\* | 8401 | 1215541 |
|  Powerfleet, Inc.(x)\* | 40671 | 213116 |
|  Red Cat Holdings, Inc.(x)\* | 25868 | 267734 |
|  Richardson Electronics Ltd. | 2988 | 29253 |
|  Rogers Corp.\* | 6028 | 485013 |
|  Sanmina Corp.\* | 16646 | 1916121 |
|  ScanSource, Inc.\* | 6733 | 296185 |
|  TTM Technologies, Inc.\* | 31804 | 1831910 |
|  Vishay Intertechnology, Inc. | 40530 | 620109 |
|  Vishay Precision Group, Inc.\* | 2692 | 86279 |
|  Vuzix Corp.(x)\* | 14655 | 45870 |
|  |  | 29777321 |
|  ***IT Services (0.5%)*** |  |  |
|  Applied Digital Corp.\* | 67424 | 1546707 |
|  ASGN, Inc.\* | 13513 | 639840 |
|  Backblaze, Inc., Class A\* | 16799 | 155895 |
|  BigBear.ai Holdings, Inc.(x)\* | 93071 | 606823 |
|  Commerce.com, Inc.\* | 24624 | 122874 |
|  Crexendo, Inc.\* | 3214 | 20891 |
|  CSP, Inc. | 1499 | 17313 |
|  DigitalOcean Holdings, Inc.\* | 21927 | 749026 |
|  Fastly, Inc., Class A\* | 44034 | 376491 |
|  Grid Dynamics Holdings, Inc.\* | 20610 | 158903 |
|  Hackett Group, Inc. (The) | 8183 | 155559 |
|  Information Services Group, Inc. | 11606 | 66734 |
|  Rackspace Technology, Inc.(x)\* | 42317 | 59667 |
|  TSS, Inc.(x)\* | 4227 | 76551 |
|  Tucows, Inc., Class A\* | 2407 | 44662 |
|  Unisys Corp.\* | 22847 | 89103 |
|  VTEX, Class A\* | 13160 | 57641 |
|  |  | 4944680 |
|  ***Semiconductors & Semiconductor Equipment (3.2%)*** |  |  |
|  ACM Research, Inc., Class A\* | 15543 | 608198 |
|  Aehr Test Systems(x)\* | 9069 | 273068 |
|  Aeluma, Inc.\* | 2187 | 35211 |
|  Alpha & Omega Semiconductor Ltd.\* | 8049 | 225050 |
|  Ambarella, Inc.\* | 12921 | 1066241 |
|  Ambiq Micro, Inc.\* | 955 | 28574 |
|  Atomera, Inc.(x)\* | 6673 | 29495 |
|  Axcelis Technologies, Inc.\* | 9893 | 965953 |
|  Blaize Holdings, Inc.(x)\* | 15062 | 51964 |
|  CEVA, Inc.\* | 7289 | 192502 |
|  Cohu, Inc.\* | 15078 | 306536 |
|  Credo Technology Group Holding Ltd.\* | 46680 | 6797075 |
|  Diodes, Inc.\* | 14378 | 765053 |
|  FormFactor, Inc.\* | 25120 | 914870 |
|  Ichor Holdings Ltd.\* | 10745 | 188252 |
|  Impinj, Inc.\* | 8300 | 1500225 |
|  indie Semiconductor, Inc., Class A(x)\* | 59739 | 243138 |
|  Kopin Corp.\* | 34052 | 82746 |
|  Kulicke & Soffa Industries, Inc. | 16574 | 673567 |
|  MaxLinear, Inc., Class A\* | 25674 | 412838 |
|  Navitas Semiconductor Corp., Class A(x)\* | 42531 | 307074 |
|  NVE Corp. | 1115 | 72776 |
|  PDF Solutions, Inc.\* | 10613 | 274028 |
|  Penguin Solutions, Inc.(x)\* | 16763 | 440532 |
|  Photronics, Inc.\* | 18377 | 421752 |
|  Power Integrations, Inc. | 18326 | 736888 |
|  Rambus, Inc.\* | 34322 | 3576352 |
|  Rigetti Computing, Inc.(x)\* | 100598 | 2996814 |
|  Semtech Corp.\* | 27735 | 1981666 |
|  Silicon Laboratories, Inc.\* | 10040 | 1316545 |
|  SiTime Corp.\* | 6682 | 2013353 |
|  SkyWater Technology, Inc.\* | 6203 | 115748 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Synaptics, Inc.\* | 12063 | $824385 |
|  Ultra Clean Holdings, Inc.\* | 14819 | 403818 |
|  Veeco Instruments, Inc.\* | 18691 | 568767 |
|  |  | 31411054 |
|  ***Software (5.8%)*** |  |  |
|  8x8, Inc.\* | 29848 | 63278 |
|  A10 Networks, Inc. | 22930 | 416180 |
|  ACI Worldwide, Inc.\* | 34097 | 1799299 |
|  Adeia, Inc. | 36154 | 607387 |
|  Agilysys, Inc.\* | 8017 | 843789 |
|  Airship AI Holdings, Inc.(x)\* | 4592 | 23741 |
|  Alarm.com Holdings, Inc.\* | 15556 | 825712 |
|  Alkami Technology, Inc.(x)\* | 21247 | 527775 |
|  Amplitude, Inc., Class A\* | 26161 | 280446 |
|  Appian Corp., Class A\* | 12783 | 390776 |
|  Arteris, Inc.\* | 8043 | 81234 |
|  Asana, Inc., Class A(x)\* | 28560 | 381562 |
|  AudioEye, Inc.\* | 2897 | 40152 |
|  AvePoint, Inc.\* | 42229 | 633857 |
|  Bit Digital, Inc.(x)\* | 98760 | 296280 |
|  Bitdeer Technologies Group, Class A(x)\* | 28868 | 493354 |
|  Blackbaud, Inc.\* | 11847 | 761881 |
|  BlackLine, Inc.\* | 16624 | 882734 |
|  Blend Labs, Inc., Class A\* | 70793 | 258394 |
|  Box, Inc., Class A\* | 44714 | 1442921 |
|  Braze, Inc., Class A\* | 24252 | 689727 |
|  C3.ai, Inc., Class A(x)\* | 38023 | 659319 |
|  Cerence, Inc.(x)\* | 8628 | 107505 |
|  Cipher Mining, Inc.(x)\* | 84077 | 1058529 |
|  Cleanspark, Inc.(x)\* | 88129 | 1277870 |
|  Clear Secure, Inc., Class A | 26501 | 884603 |
|  Clearwater Analytics Holdings, Inc., Class A\* | 78499 | 1414552 |
|  Commvault Systems, Inc.\* | 14193 | 2679355 |
|  Consensus Cloud Solutions, Inc.\* | 4794 | 140800 |
|  Core Scientific, Inc.(x)\* | 89632 | 1607998 |
|  CoreCard Corp.\* | 1269 | 34161 |
|  CS Disco, Inc.\* | 10748 | 69432 |
|  Daily Journal Corp.\* | 281 | 130704 |
|  Digimarc Corp.(x)\* | 5514 | 53872 |
|  Digital Turbine, Inc.(x)\* | 32879 | 210426 |
|  Domo, Inc., Class B\* | 9914 | 157038 |
|  D-Wave Quantum, Inc.(x)\* | 96283 | 2379153 |
|  eGain Corp.\* | 6845 | 59620 |
|  EverCommerce, Inc.(x)\* | 6315 | 70286 |
|  Expensify, Inc., Class A\* | 13525 | 25021 |
|  Five9, Inc.\* | 24599 | 595296 |
|  Freshworks, Inc., Class A\* | 65442 | 770252 |
|  Hut 8 Corp.\* | 29246 | 1018053 |
|  I3 Verticals, Inc., Class A(x)\* | 7517 | 244002 |
|  Intapp, Inc.\* | 17704 | 724094 |
|  InterDigital, Inc.(x) | 8249 | 2847802 |
|  Jamf Holding Corp.\* | 22988 | 245972 |
|  Kaltura, Inc.\* | 25267 | 36384 |
|  Life360, Inc.(x)\* | 5154 | 547870 |
|  LiveRamp Holdings, Inc.\* | 21040 | 571026 |
|  MARA Holdings, Inc.(x)\* | 115570 | 2110308 |
|  Mercurity Fintech Holding, Inc.(x)\* | 7153 | 175821 |
|  Meridianlink, Inc.\* | 9707 | 193461 |
|  Mitek Systems, Inc.\* | 10909 | 106581 |
|  N-able, Inc.\* | 24245 | 189111 |
|  NCR Voyix Corp.\* | 45638 | 572757 |
|  NextNav, Inc.\* | 28292 | 404576 |
|  ON24, Inc.\* | 10232 | 58527 |
|  OneSpan, Inc. | 8023 | 127485 |
|  Ooma, Inc.\* | 6189 | 74206 |
|  Pagaya Technologies Ltd., Class A\* | 14639 | 434632 |
|  PagerDuty, Inc.\* | 27430 | 453144 |
|  Porch Group, Inc.\* | 25763 | 432303 |
|  Progress Software Corp.\* | 13840 | 607991 |
|  PROS Holdings, Inc.(x)\* | 14579 | 334005 |
|  Q2 Holdings, Inc.\* | 19871 | 1438462 |
|  Qualys, Inc.\* | 11672 | 1544556 |
|  Rapid7, Inc.\* | 20759 | 389231 |
|  Red Violet, Inc. | 3692 | 192907 |
|  ReposiTrak, Inc.(x) | 3397 | 50344 |
|  Rezolve AI plc(x)\* | 45695 | 227561 |
|  Rimini Street, Inc.\* | 15379 | 71974 |
|  Riot Platforms, Inc.(x)\* | 109245 | 2078932 |
|  Sapiens International Corp. NV | 10735 | 461605 |
|  SEMrush Holdings, Inc., Class A\* | 10629 | 75253 |
|  Silvaco Group, Inc.(x)\* | 1520 | 8223 |
|  SoundHound AI, Inc., Class A(x)\* | 116446 | 1872452 |
|  SoundThinking, Inc.\* | 2426 | 29258 |
|  Sprinklr, Inc., Class A\* | 34734 | 268146 |
|  Sprout Social, Inc., Class A\* | 16268 | 210183 |
|  SPS Commerce, Inc.\* | 12032 | 1253012 |
|  Synchronoss Technologies, Inc.\* | 2273 | 13820 |
|  Telos Corp.\* | 17089 | 116889 |
|  Tenable Holdings, Inc.\* | 39171 | 1142226 |
|  Terawulf, Inc.(x)\* | 89253 | 1019269 |
|  Varonis Systems, Inc.\* | 34972 | 2009841 |
|  Verint Systems, Inc.\* | 20479 | 414700 |
|  Vertex, Inc., Class A(x)\* | 20287 | 502915 |
|  Viant Technology, Inc., Class A\* | 3457 | 29834 |
|  Weave Communications, Inc.\* | 13511 | 90253 |
|  WM Technology, Inc.\* | 20496 | 23775 |
|  Workiva, Inc., Class A\* | 15701 | 1351542 |
|  Xperi, Inc.\* | 10393 | 67347 |
|  Yext, Inc.\* | 36480 | 310810 |
|  Zeta Global Holdings Corp., Class A\* | 58444 | 1161282 |
|  |  | 57062984 |
|  ***Technology Hardware, Storage & Peripherals (0.7%)*** |  |  |
|  CompoSecure, Inc., Class A\* | 14134 | 294270 |
|  Corsair Gaming, Inc.\* | 15070 | 134424 |
|  CPI Card Group, Inc.\* | 2767 | 41892 |
|  Diebold Nixdorf, Inc.\* | 8203 | 467817 |
|  Eastman Kodak Co.(x)\* | 23366 | 149776 |
|  Immersion Corp. | 6467 | 47468 |
|  IonQ, Inc.(x)\* | 86611 | 5326577 |
|  Quantum Computing, Inc.(x)\* | 42147 | 775926 |
|  Turtle Beach Corp.\* | 4183 | 66510 |
|  Xerox Holdings Corp. | 37277 | 140162 |
|  |  | 7444822 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 138399079 |
|  **Materials (3.8%)** |  |  |
|  ***Chemicals (1.4%)*** |  |  |
|  AdvanSix, Inc. | 6580 | 127521 |
|  American Vanguard Corp.\* | 9271 | 53216 |
|  Arq, Inc.\* | 9775 | 69989 |
|  ASP Isotopes, Inc.(x)\* | 23661 | 227619 |
|  Aspen Aerogels, Inc.\* | 15391 | 107121 |
|  Avient Corp. | 27625 | 910244 |
|  Balchem Corp. | 10384 | 1558223 |
|  Cabot Corp. | 17042 | 1296044 |
|  Chemours Co. (The) | 47626 | 754396 |
|  Core Molding Technologies, Inc.\* | 2705 | 55588 |
|  Ecovyst, Inc.\* | 37740 | 330602 |
|  Flotek Industries, Inc.(x)\* | 3304 | 48238 |
|  Hawkins, Inc. | 6238 | 1139807 |
|  HB Fuller Co. | 16898 | 1001714 |
|  Ingevity Corp.\* | 11537 | 636727 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Innospec, Inc. | 8096 | $624687 |
|  Intrepid Potash, Inc.\* | 3739 | 114339 |
|  Koppers Holdings, Inc. | 6542 | 183176 |
|  Kronos Worldwide, Inc. | 11526 | 66159 |
|  LSB Industries, Inc.\* | 17410 | 137191 |
|  Mativ Holdings, Inc. | 17319 | 195878 |
|  Minerals Technologies, Inc. | 10043 | 623871 |
|  Orion SA | 18433 | 139722 |
|  Perimeter Solutions, Inc.\* | 43967 | 984421 |
|  PureCycle Technologies, Inc.(x)\* | 40435 | 531720 |
|  Quaker Chemical Corp. | 4527 | 596432 |
|  Rayonier Advanced Materials, Inc.\* | 17268 | 124675 |
|  Sensient Technologies Corp. | 13429 | 1260312 |
|  Solesence, Inc.(x)\* | 6191 | 19935 |
|  Stepan Co. | 6497 | 309907 |
|  Trinseo plc(x) | 7478 | 17573 |
|  Tronox Holdings plc | 39080 | 157102 |
|  Valhi, Inc.(x) | 1508 | 23796 |
|  |  | 14427945 |
|  ***Construction Materials (0.2%)*** |  |  |
|  Knife River Corp.\* | 18095 | 1390963 |
|  Smith-Midland Corp.\* | 1331 | 49114 |
|  Titan America SA(x) | 7460 | 111452 |
|  United States Lime & Minerals, Inc. | 3459 | 455031 |
|  |  | 2006560 |
|  ***Containers & Packaging (0.2%)*** |  |  |
|  Ardagh Metal Packaging SA | 47732 | 190451 |
|  Greif, Inc., Class A | 7905 | 472403 |
|  Greif, Inc., Class B | 1648 | 101533 |
|  Myers Industries, Inc. | 10556 | 178819 |
|  O-I Glass, Inc.\* | 45515 | 590329 |
|  Ranpak Holdings Corp., Class A\* | 25753 | 144732 |
|  TriMas Corp. | 10008 | 386709 |
|  |  | 2064976 |
|  ***Metals & Mining (1.9%)*** |  |  |
|  Alpha Metallurgical Resources, Inc.\* | 3785 | 621081 |
|  American Battery Technology Co.\* | 17753 | 86280 |
|  Ascent Industries Co.\* | 1702 | 21922 |
|  Caledonia Mining Corp. plc | 3967 | 143645 |
|  Century Aluminum Co.\* | 17347 | 509308 |
|  Coeur Mining, Inc.\* | 202499 | 3798881 |
|  Commercial Metals Co. | 35187 | 2015511 |
|  Compass Minerals International, Inc.\* | 11913 | 228730 |
|  Constellium SE\* | 44368 | 660196 |
|  Contango ORE, Inc.\* | 3779 | 94210 |
|  Critical Metals Corp.(x)\* | 6998 | 43528 |
|  Dakota Gold Corp.\* | 29412 | 133825 |
|  Ferroglobe plc | 37840 | 172172 |
|  Friedman Industries, Inc. | 1351 | 29580 |
|  Hecla Mining Co. | 191228 | 2313859 |
|  Idaho Strategic Resources, Inc.\* | 2854 | 96437 |
|  Ivanhoe Electric, Inc.\* | 27107 | 340193 |
|  Kaiser Aluminum Corp. | 5247 | 404858 |
|  Lifezone Metals Ltd.(x)\* | 10283 | 56351 |
|  MAC Copper Ltd.\* | 18977 | 231709 |
|  Materion Corp. | 6509 | 786352 |
|  Metallus, Inc.\* | 11688 | 193203 |
|  NioCorp Developments Ltd.(x)\* | 15046 | 100507 |
|  Novagold Resources, Inc.\* | 95345 | 839036 |
|  Olympic Steel, Inc. | 3486 | 106149 |
|  Perpetua Resources Corp.\* | 23660 | 478642 |
|  Ramaco Resources, Inc., Class A\* | 10738 | 356394 |
|  Ryerson Holding Corp. | 8407 | 192184 |
|  SSR Mining, Inc.\* | 64889 | 1584589 |
|  SunCoke Energy, Inc. | 29128 | 237684 |
|  Tredegar Corp.\* | 9574 | 76879 |
|  United States Antimony Corp.(x)\* | 29651 | 183836 |
|  US Gold Corp.\* | 2508 | 41332 |
|  US Goldmining, Inc.\* | 597 | 7674 |
|  Vox Royalty Corp.(x) | 8139 | 34998 |
|  Warrior Met Coal, Inc. | 16549 | 1053178 |
|  Worthington Steel, Inc. | 10748 | 326632 |
|  |  | 18601545 |
|  ***Paper & Forest Products (0.1%)*** |  |  |
|  Clearwater Paper Corp.\* | 5378 | 111647 |
|  Magnera Corp.\* | 11551 | 135378 |
|  Sylvamo Corp. | 9817 | 434108 |
|  |  | 681133 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 37782159 |
|  **Real Estate (5.2%)** |  |  |
|  ***Diversified REITs (0.5%)*** |  |  |
|  Alexander & Baldwin, Inc. (REIT) | 22376 | 407019 |
|  Alpine Income Property Trust, Inc. (REIT) | 5809 | 82314 |
|  American Assets Trust, Inc. (REIT) | 15634 | 317683 |
|  Armada Hoffler Properties, Inc. (REIT) | 25203 | 176673 |
|  Broadstone Net Lease, Inc. (REIT) | 59479 | 1062890 |
|  CTO Realty Growth, Inc. (REIT) | 9898 | 161337 |
|  Essential Properties Realty Trust, Inc. (REIT) | 61480 | 1829645 |
|  Gladstone Commercial Corp. (REIT)(x) | 17460 | 215107 |
|  Global Net Lease, Inc. (REIT) | 63702 | 517897 |
|  Modiv Industrial, Inc. (REIT), Class C | 2024 | 29631 |
|  NexPoint Diversified Real Estate Trust (REIT) | 14782 | 54546 |
|  One Liberty Properties, Inc. (REIT) | 6065 | 134158 |
|  |  | 4988900 |
|  ***Health Care REITs (0.9%)*** |  |  |
|  American Healthcare REIT, Inc. (REIT) | 50457 | 2119699 |
|  CareTrust REIT, Inc. (REIT) | 67281 | 2333305 |
|  Community Healthcare Trust, Inc. (REIT) | 10806 | 165332 |
|  Diversified Healthcare Trust (REIT) | 71247 | 314199 |
|  Global Medical REIT, Inc. (REIT)(x) | 4025 | 135683 |
|  LTC Properties, Inc. (REIT) | 14798 | 545454 |
|  National Health Investors, Inc. (REIT) | 14703 | 1168888 |
|  Sabra Health Care REIT, Inc. (REIT) | 75886 | 1414515 |
|  Sila Realty Trust, Inc. (REIT) | 17945 | 450419 |
|  Strawberry Fields REIT, Inc. (REIT) | 3636 | 44723 |
|  Universal Health Realty Income Trust (REIT) | 4246 | 166316 |
|  |  | 8858533 |
|  ***Hotel & Resort REITs (0.5%)*** |  |  |
|  Apple Hospitality REIT, Inc. (REIT) | 69914 | 839667 |
|  Braemar Hotels & Resorts, Inc. (REIT) | 25649 | 70022 |
|  Chatham Lodging Trust (REIT) | 14665 | 98402 |
|  DiamondRock Hospitality Co. (REIT) | 67763 | 539394 |
|  Pebblebrook Hotel Trust (REIT) | 37567 | 427888 |
|  RLJ Lodging Trust (REIT) | 48066 | 346075 |
|  Ryman Hospitality Properties, Inc. (REIT) | 19394 | 1737508 |
|  Service Properties Trust (REIT) | 58124 | 157516 |
|  Summit Hotel Properties, Inc. (REIT) | 36866 | 202394 |
|  Sunstone Hotel Investors, Inc. (REIT) | 59678 | 559183 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Xenia Hotels & Resorts, Inc. (REIT) | 27762 | $380895 |
|  |  | 5358944 |
|  ***Industrial REITs (0.4%)*** |  |  |
|  Industrial Logistics Properties Trust (REIT) | 24189 | 141022 |
|  Innovative Industrial Properties, Inc. (REIT) | 8795 | 471236 |
|  LXP Industrial Trust (REIT) | 91738 | 821973 |
|  Plymouth Industrial REIT, Inc. (REIT) | 13091 | 292322 |
|  Terreno Realty Corp. (REIT) | 31484 | 1786717 |
|  |  | 3513270 |
|  ***Office REITs (0.6%)*** |  |  |
|  Brandywine Realty Trust (REIT) | 58393 | 243499 |
|  City Office REIT, Inc. (REIT) | 13345 | 92881 |
|  COPT Defense Properties (REIT) | 35528 | 1032444 |
|  Douglas Emmett, Inc. (REIT) | 44943 | 699763 |
|  Easterly Government Properties, Inc. (REIT), Class A | 12393 | 284171 |
|  Empire State Realty Trust, Inc. (REIT), Class A | 44429 | 340326 |
|  Franklin Street Properties Corp. (REIT) | 23400 | 37440 |
|  Hudson Pacific Properties, Inc. (REIT)\* | 110967 | 306269 |
|  JBG SMITH Properties (REIT) | 18402 | 409445 |
|  NET Lease Office Properties (REIT) | 4435 | 131542 |
|  Paramount Group, Inc. (REIT)\* | 58191 | 380569 |
|  Peakstone Realty Trust (REIT) | 10641 | 139610 |
|  Piedmont Realty Trust, Inc. (REIT) | 40257 | 362313 |
|  Postal Realty Trust, Inc. (REIT), Class A | 10212 | 160226 |
|  SL Green Realty Corp. (REIT) | 22583 | 1350689 |
|  |  | 5971187 |
|  ***Real Estate Management & Development (0.6%)*** |  |  |
|  American Realty Investors, Inc.(x)\* | 1016 | 16998 |
|  Anywhere Real Estate, Inc.\* | 34850 | 369062 |
|  Compass, Inc., Class A\* | 148006 | 1188488 |
|  Cushman & Wakefield plc\* | 59087 | 940665 |
|  Douglas Elliman, Inc.\* | 22100 | 63206 |
|  eXp World Holdings, Inc.(x) | 27010 | 287927 |
|  Forestar Group, Inc.\* | 6594 | 175334 |
|  FRP Holdings, Inc.\* | 4118 | 100315 |
|  Kennedy-Wilson Holdings, Inc. | 37030 | 308090 |
|  Logistic Properties of The Americas(x)\* | 1037 | 4832 |
|  Marcus & Millichap, Inc. | 8363 | 245454 |
|  Maui Land & Pineapple Co., Inc.\* | 3433 | 63991 |
|  Newmark Group, Inc., Class A | 47642 | 888523 |
|  RE/MAX Holdings, Inc., Class A\* | 7226 | 68141 |
|  Real Brokerage, Inc. (The)\* | 30760 | 128577 |
|  RMR Group, Inc. (The), Class A | 5684 | 89409 |
|  Seaport Entertainment Group, Inc.(x)\* | 2488 | 57025 |
|  St Joe Co. (The) | 12379 | 612513 |
|  Stratus Properties, Inc.\* | 2003 | 42383 |
|  Tejon Ranch Co.\* | 6818 | 108952 |
|  Transcontinental Realty Investors, Inc.\* | 1018 | 46960 |
|  |  | 5806845 |
|  ***Residential REITs (0.3%)*** |  |  |
|  Apartment Investment and Management Co. (REIT), Class A | 41918 | 332410 |
|  BRT Apartments Corp. (REIT) | 3909 | 61215 |
|  Centerspace (REIT) | 5416 | 319002 |
|  Clipper Realty, Inc. (REIT) | 5310 | 20178 |
|  Elme Communities (REIT) | 25276 | 426153 |
|  Independence Realty Trust, Inc. (REIT) | 74629 | 1223169 |
|  NexPoint Residential Trust, Inc. (REIT) | 7930 | 255505 |
|  UMH Properties, Inc. (REIT) | 24585 | 365087 |
|  Veris Residential, Inc. (REIT) | 25363 | 385518 |
|  |  | 3388237 |
|  ***Retail REITs (1.1%)*** |  |  |
|  Acadia Realty Trust (REIT) | 41456 | 835338 |
|  Alexander's, Inc. (REIT) | 500 | 117245 |
|  CBL & Associates Properties, Inc. (REIT) | 6024 | 184214 |
|  Curbline Properties Corp. (REIT) | 30629 | 683027 |
|  FrontView REIT, Inc. (REIT) | 7697 | 105526 |
|  Getty Realty Corp. (REIT) | 16641 | 446478 |
|  InvenTrust Properties Corp. (REIT) | 24509 | 701448 |
|  Kite Realty Group Trust (REIT) | 69204 | 1543249 |
|  Macerich Co. (The) (REIT) | 79899 | 1454162 |
|  NETSTREIT Corp. (REIT)(x) | 29449 | 531849 |
|  Phillips Edison & Co., Inc. (REIT) | 40409 | 1387241 |
|  Saul Centers, Inc. (REIT) | 4236 | 135001 |
|  SITE Centers Corp. (REIT) | 19520 | 175875 |
|  Tanger, Inc. (REIT) | 35521 | 1202031 |
|  Urban Edge Properties (REIT) | 40321 | 825371 |
|  Whitestone REIT (REIT) | 15623 | 191850 |
|  |  | 10519905 |
|  ***Specialized REITs (0.3%)*** |  |  |
|  Farmland Partners, Inc. (REIT)(x) | 15041 | 163646 |
|  Four Corners Property Trust, Inc. (REIT) | 29367 | 716555 |
|  Gladstone Land Corp. (REIT)(x) | 13404 | 122781 |
|  Outfront Media, Inc. (REIT) | 44063 | 807234 |
|  PotlatchDeltic Corp. (REIT) | 24708 | 1006851 |
|  Safehold, Inc. (REIT) | 17540 | 271694 |
|  Smartstop Self Storage REIT, Inc. (REIT)(x) | 9486 | 357053 |
|  |  | 3445814 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 51851635 |
|  **Utilities (3.0%)** |  |  |
|  ***Electric Utilities (1.1%)*** |  |  |
|  ALLETE, Inc. | 18497 | 1228201 |
|  Genie Energy Ltd., Class B | 6553 | 97967 |
|  Hawaiian Electric Industries, Inc.\* | 55894 | 617070 |
|  MGE Energy, Inc. | 11707 | 985495 |
|  Oklo, Inc., Class A(x)\* | 34282 | 3826900 |
|  Otter Tail Corp. | 12128 | 994132 |
|  Portland General Electric Co. | 35207 | 1549108 |
|  TXNM Energy, Inc. | 30718 | 1737103 |
|  |  | 11035976 |
|  ***Gas Utilities (1.0%)*** |  |  |
|  Brookfield Infrastructure Corp., Class A | 36859 | 1515642 |
|  Chesapeake Utilities Corp. | 7152 | 963303 |
|  New Jersey Resources Corp. | 31932 | 1537526 |
|  Northwest Natural Holding Co. | 13009 | 584494 |
|  ONE Gas, Inc. | 18906 | 1530252 |
|  RGC Resources, Inc. | 3180 | 71359 |
|  Southwest Gas Holdings, Inc. | 20499 | 1605892 |
|  Spire, Inc. | 18580 | 1514641 |
|  |  | 9323109 |
|  ***Independent Power and Renewable Electricity Producers (0.2%)*** |  |  |
|  Hallador Energy Co.(x)\* | 10133 | 198303 |
|  Montauk Renewables, Inc.\* | 30147 | 60595 |
|  Ormat Technologies, Inc. | 19156 | 1843765 |
|  |  | 2102663 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  ***Multi-Utilities (0.4%)*** |  |  |
|  Avista Corp. | 25540 | $965668 |
|  Black Hills Corp. | 23031 | 1418479 |
|  Northwestern Energy Group, Inc. | 18832 | 1103744 |
|  Unitil Corp. | 5076 | 242937 |
|  |  | 3730828 |
|  ***Water Utilities (0.3%)*** |  |  |
|  American States Water Co. | 11368 | 833502 |
|  Cadiz, Inc.\* | 28799 | 135931 |
|  California Water Service Group | 18678 | 857133 |
|  Consolidated Water Co. Ltd.(x) | 4044 | 142672 |
|  Global Water Resources, Inc. | 4786 | 49296 |
|  H2O America | 9699 | 472341 |
|  Middlesex Water Co. | 5775 | 312543 |
|  Pure Cycle Corp.\* | 7378 | 81675 |
|  York Water Co. (The) | 5276 | 160496 |
|  |  | 3045589 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 29238165 |
|  **Total Common Stocks (90.3%)**<br> *(Cost $592,767,432)* |  | 892379234 |
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Biotechnology (0.0%)†*** |  |  |
|  Aduro Biotech, Inc., CVR (r)\* | 10401 |  |
|  Chinook Therapeutics, Inc., CVR \* | 20304 | 4060 |
|  Icosavax, Inc., CVR \* | 6876 | 2063 |
|  Sanofi Aatd, Inc., CVR(r)\* | 11170 | 5424 |
|  |  | 11547 |
|  ***Health Care Equipment & Supplies (0.0%)†*** |  |  |
|  Paragon 28, Inc., CVR(r)\* | 4470 | 302 |
|  ***Life Sciences Tools & Services (0.0%)*** |  |  |
|  OmniAb, Inc., expiring 11/1/27(r)(x)\* | 4550 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 11849 |
|  **Materials (0.0%)†** |  |  |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Resolute Forest Products, Inc., CVR\* | 5400 | 8100 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 8100 |
|  **Total Rights (0.0%)†**<br> *(Cost $13,076)* |  | 19949 |
|  | **Number of<br>Warrants** | **Value**<br>**(Note 1)** |
|  WARRANTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Health Care Equipment & Supplies (0.0%)†*** |  |  |
|  Pulse Biosciences, Inc., expiring 6/27/29(x)\*<br>*(Cost $—)* | 436 | 1461 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (7.5%)** |  |  |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 1000000 | 1000000 |
|  Goldman Sachs Financial Square Government Fund 4.03% (7 day yield) (xx) | 1000000 | 1000000 |
|  HSBC U.S. Government Money Market Fund, Intermediary Shares 4.03% (7 day yield) (xx) | 2000000 | 2000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 25663794 | 25663794 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 40979907 | 40996300 |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 3000000 | 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 73660094 |
|  **Total Short-Term Investments (7.5%)**<br> *(Cost $73,653,332)* |  | 73660094 |
|  **Total Investments in Securities (97.8%)**<br> *(Cost $666,433,840)* |  | 966060738 |
|  **Other Assets Less Liabilities (2.2%)** |  | 22110116 |
|  **Net Assets (100%)** |  | $988170854 |

---

*\** *Non-income producing.* 

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $492,753 or 0.0% of net assets.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $82,607,352. This was collateralized by $52,646,609 of various U.S. Government Treasury Securities,ranging from 0.000% – 6.250%, maturing 9/30/25 – 5/15/55 and by cash of $32,676,040 of which $32,663,794 was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*CVR — Contingent Value Right* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM SMALL CAP MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  Russell 2000 E-Mini Index | 784 | 12/2025 | USD | 96255600 | 981508 |
|  |  |  |  |  | 981508 |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $24795210 | $— | $— | $24795210 |
|  Consumer Discretionary | 88024522 |  |  | 88024522 |
|  Consumer Staples | 17680692 |  |  | 17680692 |
|  Energy | 43122803 |  |  | 43122803 |
|  Financials | 160582943 |  | 265 | 160583208 |
|  Health Care | 142600878 |  | — (a) | 142600878 |
|  Industrials | 158300883 |  |  | 158300883 |
|  Information Technology | 138399079 |  |  | 138399079 |
|  Materials | 37782159 |  |  | 37782159 |
|  Real Estate | 51851635 |  |  | 51851635 |
|  Utilities | 29238165 |  |  | 29238165 |
|  **Futures** | 981508 |  |  | 981508 |
|  **Rights** |  |  |  |  |
|  Health Care |  | 6123 | 5726 | 11849 |
|  Materials |  | 8100 |  | 8100 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 73660094 |  |  | 73660094 |
|  **Warrants** |  |  |  |  |
|  Health Care |  | 1461 |  | 1461 |
|  **Total Assets** | $**967020571** | $**15684** | $**5991** | $**967042246** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**967020571** | $**15684** | $**5991** | $**967042246** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $410018630 |
|  Aggregate gross unrealized depreciation | (113784215) |
|  Net unrealized appreciation | $296234415 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $670807831 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Australia (6.3%)** |  |  |
|  ANZ Group Holdings Ltd. | 168217 | $3696578 |
|  APA Group | 71785 | 421801 |
|  Aristocrat Leisure Ltd. | 31696 | 1467708 |
|  ASX Ltd. | 11041 | 428049 |
|  BHP Group Ltd. | 285442 | 8032938 |
|  BlueScope Steel Ltd. | 25213 | 378547 |
|  Brambles Ltd. | 77014 | 1263812 |
|  CAR Group Ltd. | 21835 | 531405 |
|  Cochlear Ltd. | 3781 | 698652 |
|  Coles Group Ltd. | 74699 | 1151186 |
|  Commonwealth Bank of Australia | 94104 | 10392632 |
|  Computershare Ltd. | 28890 | 693738 |
|  Evolution Mining Ltd. | 114987 | 824021 |
|  Fortescue Ltd. | 94099 | 1163116 |
|  Glencore plc | 570055 | 2618934 |
|  Goodman Group (REIT) | 114854 | 2491244 |
|  Insurance Australia Group Ltd. | 132181 | 717206 |
|  Lottery Corp. Ltd. (The) | 125948 | 490038 |
|  Macquarie Group Ltd. | 20360 | 2954860 |
|  Medibank Pvt Ltd. | 153653 | 490060 |
|  National Australia Bank Ltd. | 173184 | 5059407 |
|  Northern Star Resources Ltd. | 75392 | 1183816 |
|  Origin Energy Ltd. | 94873 | 784718 |
|  Pro Medicus Ltd. | 3249 | 662781 |
|  Qantas Airways Ltd. | 41989 | 303403 |
|  QBE Insurance Group Ltd. | 84267 | 1148088 |
|  REA Group Ltd.(x) | 3055 | 467086 |
|  Rio Tinto Ltd. | 20908 | 1688263 |
|  Rio Tinto plc | 63172 | 4152421 |
|  Santos Ltd. | 178486 | 794841 |
|  Scentre Group (REIT) | 285430 | 770586 |
|  SGH Ltd. | 11640 | 384570 |
|  Sigma Healthcare Ltd. | 265158 | 521101 |
|  Sonic Healthcare Ltd. | 26386 | 374334 |
|  South32 Ltd. | 248181 | 449967 |
|  Stockland (REIT) | 138141 | 559416 |
|  Suncorp Group Ltd. | 59915 | 803223 |
|  Telstra Group Ltd. | 220803 | 704228 |
|  Transurban Group | 174797 | 1596152 |
|  Vicinity Ltd. (REIT) | 211194 | 352163 |
|  Washington H Soul Pattinson & Co. Ltd.(x) | 17323 | 441197 |
|  Wesfarmers Ltd. | 64169 | 3907227 |
|  Westpac Banking Corp. | 191961 | 4949993 |
|  WiseTech Global Ltd. | 11308 | 675296 |
|  Woodside Energy Group Ltd. | 107279 | 1634819 |
|  Woolworths Group Ltd. | 68745 | 1214545 |
|  |  | 76490166 |
|  **Austria (0.2%)** |  |  |
|  Erste Group Bank AG | 17343 | 1694081 |
|  Mondi plc | 23860 | 328595 |
|  OMV AG | 8076 | 430655 |
|  Verbund AG | 3854 | 280084 |
|  |  | 2733415 |
|  **Belgium (0.8%)** |  |  |
|  Ageas SA/NV | 8056 | 557085 |
|  Anheuser-Busch InBev SA/NV | 55894 | 3333615 |
|  D'ieteren Group | 1279 | 239056 |
|  Elia Group SA/NV, Class B | 2394 | 275868 |
|  Groupe Bruxelles Lambert NV | 4526 | 404111 |
|  KBC Group NV | 12914 | 1538153 |
|  Lotus Bakeries NV | 22 | 207149 |
|  Sofina SA(x) | 838 | 246947 |
|  Syensqo SA | 4316 | 348117 |
|  UCB SA | 7093 | 1956971 |
|  |  | 9107072 |
|  **Brazil (0.0%)†** |  |  |
|  Yara International ASA | 9547 | 348797 |
|  **Chile (0.1%)** |  |  |
|  Antofagasta plc | 22794 | 843337 |
|  **China (0.6%)** |  |  |
|  BOC Hong Kong Holdings Ltd. | 204917 | 962184 |
|  Prosus NV | 73348 | 5161686 |
|  SITC International Holdings Co. Ltd. | 67892 | 261380 |
|  Wharf Holdings Ltd. (The) | 68262 | 195261 |
|  Wilmar International Ltd. | 115045 | 254179 |
|  Yangzijiang Shipbuilding Holdings Ltd. | 138800 | 362616 |
|  |  | 7197306 |
|  **Denmark (1.7%)** |  |  |
|  AP Moller - Maersk A/S, Class A(x) | 165 | 322575 |
|  AP Moller - Maersk A/S, Class B(x) | 233 | 456798 |
|  Carlsberg A/S, Class B | 5176 | 601447 |
|  Coloplast A/S, Class B | 7290 | 622592 |
|  Danske Bank A/S | 37565 | 1600547 |
|  Demant A/S\* | 4423 | 153183 |
|  DSV A/S | 11388 | 2264865 |
|  Genmab A/S\* | 3427 | 1038926 |
|  Novo Nordisk A/S, Class B | 181108 | 9817298 |
|  Novonesis Novozymes B | 19835 | 1213863 |
|  Orsted A/S(m)(x)\* | 9641 | 172181 |
|  Pandora A/S | 4412 | 574846 |
|  ROCKWOOL A/S, Class B | 5602 | 208025 |
|  Tryg A/S | 18811 | 477224 |
|  Vestas Wind Systems A/S | 55836 | 1052076 |
|  |  | 20576446 |
|  **Finland (1.0%)** |  |  |
|  Elisa OYJ | 8261 | 433150 |
|  Fortum OYJ | 25370 | 479698 |
|  Kesko OYJ, Class B | 15762 | 334947 |
|  Kone OYJ, Class B | 19065 | 1298229 |
|  Metso OYJ | 35881 | 492243 |
|  Neste OYJ | 22362 | 409170 |
|  Nokia OYJ | 298174 | 1427941 |
|  Nordea Bank Abp | 174015 | 2855125 |
|  Orion OYJ, Class B | 6076 | 464749 |
|  Sampo OYJ, Class A | 136393 | 1565773 |
|  Stora Enso OYJ, Class R | 33015 | 361875 |
|  UPM-Kymmene OYJ | 29391 | 802966 |
|  Wartsila OYJ Abp | 29073 | 868689 |
|  |  | 11794555 |
|  **France (8.4%)** |  |  |
|  Accor SA | 11177 | 528831 |
|  Aeroports de Paris SA(x) | 1996 | 263164 |
|  Air Liquide SA | 32526 | 6753779 |
|  Airbus SE | 33413 | 7743712 |
|  Alstom SA\* | 19609 | 509245 |
|  Amundi SA(m) | 3256 | 257650 |
|  Arkema SA | 2958 | 186144 |
|  AXA SA | 99425 | 4743904 |
|  BioMerieux | 2242 | 299547 |
|  BNP Paribas SA | 57146 | 5188245 |
|  Bollore SE | 42412 | 239807 |
|  Bouygues SA | 10564 | 475270 |
|  Bureau Veritas SA | 18266 | 571300 |
|  Capgemini SE | 9050 | 1312738 |
|  Carrefour SA | 31001 | 469336 |
|  Cie de Saint-Gobain SA | 25291 | 2721651 |
|  Cie Generale des Etablissements Michelin SCA | 37754 | 1353688 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Covivio SA (REIT) | 2958 | $198646 |
|  Credit Agricole SA | 59372 | 1165479 |
|  Danone SA | 36532 | 3180752 |
|  Dassault Aviation SA | 1150 | 384255 |
|  Dassault Systemes SE | 37671 | 1260930 |
|  Edenred SE | 13954 | 330930 |
|  Eiffage SA | 3965 | 506010 |
|  Engie SA | 103280 | 2213526 |
|  EssilorLuxottica SA | 16874 | 5467814 |
|  FDJ United | 6037 | 202001 |
|  Gecina SA (REIT) | 2620 | 262384 |
|  Getlink SE | 17132 | 314983 |
|  Hermes International SCA | 1775 | 4340844 |
|  Ipsen SA | 2056 | 274213 |
|  Kering SA | 4137 | 1372358 |
|  Klepierre SA (REIT) | 12436 | 484152 |
|  Legrand SA | 14829 | 2447844 |
|  L'Oreal SA | 13513 | 5846230 |
|  LVMH Moet Hennessy Louis Vuitton SE | 14062 | 8593190 |
|  Orange SA | 105167 | 1705139 |
|  Pernod Ricard SA | 11299 | 1108208 |
|  Publicis Groupe SA | 12877 | 1234858 |
|  Renault SA | 11020 | 450244 |
|  Rexel SA | 12939 | 422918 |
|  Safran SA | 20246 | 7133322 |
|  Sartorius Stedim Biotech | 1680 | 339352 |
|  Societe Generale SA | 40356 | 2670335 |
|  Sodexo SA | 5196 | 326675 |
|  Teleperformance SE(x) | 3196 | 237668 |
|  Thales SA | 5218 | 1633243 |
|  TotalEnergies SE | 115688 | 7026150 |
|  Unibail-Rodamco-Westfield (REIT) | 7016 | 736729 |
|  Veolia Environnement SA | 35058 | 1192812 |
|  Vinci SA | 27725 | 3839336 |
|  |  | 102521541 |
|  **Germany (8.9%)** |  |  |
|  adidas AG | 9669 | 2036529 |
|  Allianz SE (Registered) | 21715 | 9111733 |
|  BASF SE | 50094 | 2493077 |
|  Bayer AG (Registered) | 55553 | 1841217 |
|  Bayerische Motoren Werke AG | 15778 | 1582704 |
|  Bayerische Motoren Werke AG (Preference)(q) | 3116 | 288826 |
|  Beiersdorf AG | 5663 | 591729 |
|  Brenntag SE | 7094 | 423931 |
|  Commerzbank AG | 43302 | 1631414 |
|  Continental AG | 6011 | 396051 |
|  Covestro AG\* | 10379 | 710413 |
|  CTS Eventim AG & Co. KGaA | 3606 | 353084 |
|  Daimler Truck Holding AG | 26637 | 1095186 |
|  Deutsche Bank AG (Registered) | 104269 | 3666390 |
|  Deutsche Boerse AG | 10648 | 2851543 |
|  Deutsche Lufthansa AG (Registered) | 33409 | 282725 |
|  Deutsche Post AG | 54284 | 2417997 |
|  Deutsche Telekom AG (Registered) | 196285 | 6685308 |
|  Dr Ing hc F Porsche AG (Preference)(m)(q)(x) | 6074 | 294375 |
|  E.ON SE | 126954 | 2387041 |
|  Evonik Industries AG | 14591 | 253018 |
|  Fresenius Medical Care AG | 11928 | 625422 |
|  Fresenius SE & Co. KGaA | 24417 | 1358805 |
|  GEA Group AG | 8186 | 604037 |
|  Hannover Rueck SE | 3363 | 1013142 |
|  Heidelberg Materials AG | 7501 | 1686895 |
|  Henkel AG & Co. KGaA | 5839 | 432911 |
|  Henkel AG & Co. KGaA (Preference)(q) | 9018 | 727367 |
|  Hensoldt AG | 3572 | 462566 |
|  Infineon Technologies AG | 72923 | 2842426 |
|  Knorr-Bremse AG | 4249 | 398335 |
|  LEG Immobilien SE | 4322 | 343526 |
|  Mercedes-Benz Group AG | 40837 | 2563602 |
|  Merck KGaA | 7182 | 922885 |
|  MTU Aero Engines AG | 3021 | 1386446 |
|  Muenchener Rueckversicherungs- Gesellschaft AG in Muenchen (Registered) | 7346 | 4686592 |
|  Nemetschek SE | 3122 | 406125 |
|  Porsche Automobil Holding SE (Preference)(q) | 8456 | 332084 |
|  Rational AG | 267 | 203443 |
|  Rheinmetall AG | 2555 | 5952900 |
|  RWE AG | 35645 | 1582730 |
|  SAP SE | 58721 | 15711743 |
|  Sartorius AG (Preference)(q) | 1395 | 324121 |
|  Scout24 SE(m) | 4336 | 542667 |
|  Siemens AG (Registered) | 42738 | 11500465 |
|  Siemens Energy AG\* | 38052 | 4441584 |
|  Siemens Healthineers AG(m) | 19432 | 1049907 |
|  Symrise AG, Class A | 7318 | 636129 |
|  Talanx AG | 3596 | 477917 |
|  Volkswagen AG (Preference)(q) | 11555 | 1247543 |
|  Vonovia SE | 41934 | 1307126 |
|  Zalando SE(m)\* | 12500 | 381713 |
|  |  | 107547445 |
|  **Hong Kong (1.8%)** |  |  |
|  AIA Group Ltd. | 597927 | 5735741 |
|  CK Asset Holdings Ltd. | 111505 | 540477 |
|  CK Infrastructure Holdings Ltd. | 33550 | 220305 |
|  CLP Holdings Ltd. | 93867 | 777405 |
|  Futu Holdings Ltd. (ADR) | 3293 | 572686 |
|  Hang Seng Bank Ltd. | 43515 | 662627 |
|  Henderson Land Development Co. Ltd. | 77651 | 273806 |
|  HKT Trust & HKT Ltd. | 221818 | 328368 |
|  Hong Kong & China Gas Co. Ltd. | 646709 | 561781 |
|  Hong Kong Exchanges & Clearing Ltd. | 68187 | 3872892 |
|  Hongkong Land Holdings Ltd. | 60546 | 383256 |
|  Jardine Matheson Holdings Ltd. | 9060 | 556103 |
|  Link REIT (REIT) | 149233 | 767073 |
|  MTR Corp. Ltd.(x) | 87472 | 296521 |
|  Power Assets Holdings Ltd. | 75699 | 479372 |
|  Prudential plc | 145186 | 2032663 |
|  Sino Land Co. Ltd. | 203952 | 258152 |
|  Sun Hung Kai Properties Ltd. | 82931 | 993218 |
|  Swire Pacific Ltd., Class A | 20085 | 170215 |
|  Techtronic Industries Co. Ltd. | 79796 | 1020784 |
|  WH Group Ltd.(m) | 488035 | 528677 |
|  Wharf Real Estate Investment Co. Ltd. | 98874 | 292228 |
|  |  | 21324350 |
|  **Ireland (0.4%)** |  |  |
|  AerCap Holdings NV | 9922 | 1200562 |
|  AIB Group plc | 120856 | 1094689 |
|  Bank of Ireland Group plc | 54634 | 898965 |
|  Kerry Group plc, Class A | 8870 | 799261 |
|  Kingspan Group plc | 8939 | 743034 |
|  |  | 4736511 |
|  **Israel (0.8%)** |  |  |
|  Azrieli Group Ltd. | 2217 | 220013 |
|  Bank Hapoalim BM | 70567 | 1434264 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Bank Leumi Le-Israel BM | 83997 | $1655747 |
|  Check Point Software Technologies Ltd.\* | 4896 | 1013031 |
|  Elbit Systems Ltd. | 1562 | 790856 |
|  ICL Group Ltd. | 43863 | 274127 |
|  Israel Discount Bank Ltd., Class A | 71149 | 703284 |
|  Mizrahi Tefahot Bank Ltd. | 8690 | 571690 |
|  Nice Ltd.\* | 3567 | 525541 |
|  Nova Ltd.\* | 1648 | 522184 |
|  Phoenix Financial Ltd. | 12706 | 475679 |
|  Teva Pharmaceutical Industries Ltd. (ADR)\* | 65180 | 1316636 |
|  Wix.com Ltd.\* | 2953 | 524542 |
|  |  | 10027594 |
|  **Italy (3.0%)** |  |  |
|  Banca Mediolanum SpA | 12841 | 257045 |
|  Banca Monte dei Paschi di Siena SpA | 111042 | 982977 |
|  Banco BPM SpA | 65254 | 974881 |
|  BPER Banca SpA | 82671 | 915857 |
|  Coca-Cola HBC AG | 11847 | 558293 |
|  Davide Campari-Milano NV(x) | 34192 | 215569 |
|  Enel SpA | 459914 | 4355334 |
|  Eni SpA(x) | 115019 | 2007476 |
|  Ferrari NV | 7042 | 3402969 |
|  FinecoBank Banca Fineco SpA | 34220 | 739439 |
|  Generali | 48320 | 1895353 |
|  Infrastrutture Wireless Italiane SpA(m) | 15971 | 187695 |
|  Intesa Sanpaolo SpA | 800926 | 5278997 |
|  Leonardo SpA | 22677 | 1438225 |
|  Moncler SpA | 13318 | 779767 |
|  Nexi SpA(m)(x) | 26276 | 148570 |
|  Poste Italiane SpA(m) | 26424 | 626356 |
|  Prysmian SpA | 16250 | 1606012 |
|  Recordati Industria Chimica e Farmaceutica SpA | 6817 | 413781 |
|  Ryanair Holdings plc | 47524 | 1378150 |
|  Snam SpA | 116562 | 700396 |
|  Telecom Italia SpA\* | 570315 | 298163 |
|  Terna - Rete Elettrica Nazionale | 77619 | 787169 |
|  UniCredit SpA | 78784 | 5963240 |
|  Unipol Assicurazioni SpA | 20380 | 436910 |
|  |  | 36348624 |
|  **Japan (20.2%)** |  |  |
|  Advantest Corp.(x) | 42820 | 4241897 |
|  Aeon Co. Ltd. | 124524 | 1511449 |
|  AGC, Inc. | 11386 | 371488 |
|  Aisin Corp. | 29254 | 506409 |
|  Ajinomoto Co., Inc. | 51098 | 1467100 |
|  ANA Holdings, Inc. | 8812 | 170478 |
|  Asahi Group Holdings Ltd. | 80616 | 967872 |
|  Asahi Kasei Corp. | 66686 | 525110 |
|  Asics Corp. | 38200 | 1000172 |
|  Astellas Pharma, Inc.(x) | 100578 | 1088515 |
|  Bandai Namco Holdings, Inc. | 33045 | 1100494 |
|  Bridgestone Corp. | 31984 | 1481059 |
|  Canon, Inc.(x) | 48819 | 1431707 |
|  Capcom Co. Ltd. | 19752 | 537325 |
|  Central Japan Railway Co. | 42925 | 1231570 |
|  Chiba Bank Ltd. (The)(x) | 33383 | 350907 |
|  Chubu Electric Power Co., Inc. | 37839 | 526704 |
|  Chugai Pharmaceutical Co. Ltd. | 37977 | 1655852 |
|  Dai Nippon Printing Co. Ltd. | 21916 | 372788 |
|  Daifuku Co. Ltd. | 18439 | 591380 |
|  Dai-ichi Life Holdings, Inc. | 197168 | 1554572 |
|  Daiichi Sankyo Co. Ltd. | 95224 | 2134548 |
|  Daikin Industries Ltd. | 14830 | 1712793 |
|  Daito Trust Construction Co. Ltd.(x) | 15685 | 344172 |
|  Daiwa House Industry Co. Ltd. | 32406 | 1165770 |
|  Daiwa Securities Group, Inc.(x) | 75783 | 616216 |
|  Denso Corp. | 98252 | 1418786 |
|  Disco Corp. | 5190 | 1632261 |
|  East Japan Railway Co.(x) | 53329 | 1305413 |
|  Eisai Co. Ltd.(x) | 14796 | 497752 |
|  ENEOS Holdings, Inc. | 153822 | 977633 |
|  FANUC Corp. | 52988 | 1527098 |
|  Fast Retailing Co. Ltd. | 10575 | 3220732 |
|  Fuji Electric Co. Ltd.(x) | 7530 | 506328 |
|  FUJIFILM Holdings Corp. | 62892 | 1565442 |
|  Fujikura Ltd. | 14500 | 1417301 |
|  Fujitsu Ltd. | 100010 | 2356120 |
|  Hankyu Hanshin Holdings, Inc. | 12854 | 379314 |
|  Hikari Tsushin, Inc. | 938 | 261829 |
|  Hitachi Ltd. | 257585 | 6845245 |
|  Honda Motor Co. Ltd.(x) | 222712 | 2305657 |
|  Hoya Corp. | 19357 | 2680019 |
|  Hulic Co. Ltd. | 25598 | 280412 |
|  Idemitsu Kosan Co. Ltd.(x) | 42330 | 290816 |
|  IHI Corp. | 58800 | 1097393 |
|  Inpex Corp. | 50876 | 919576 |
|  Isuzu Motors Ltd.(x) | 30879 | 390359 |
|  ITOCHU Corp. | 67260 | 3832253 |
|  Japan Airlines Co. Ltd. | 8843 | 178373 |
|  Japan Exchange Group, Inc. | 56082 | 626673 |
|  Japan Post Bank Co. Ltd. | 100609 | 1234439 |
|  Japan Post Holdings Co. Ltd. | 98359 | 977704 |
|  Japan Post Insurance Co. Ltd. | 10872 | 308255 |
|  Japan Tobacco, Inc. | 67900 | 2232341 |
|  JFE Holdings, Inc.(x) | 33300 | 409030 |
|  Kajima Corp. | 23394 | 682750 |
|  Kansai Electric Power Co., Inc. (The) | 54767 | 784555 |
|  Kao Corp. | 25989 | 1133685 |
|  Kawasaki Heavy Industries Ltd.(x) | 8500 | 561551 |
|  Kawasaki Kisen Kaisha Ltd.(x) | 19855 | 282751 |
|  KDDI Corp. | 174008 | 2777468 |
|  Keyence Corp. | 10844 | 4046198 |
|  Kikkoman Corp.(x) | 37340 | 316879 |
|  Kirin Holdings Co. Ltd. | 44953 | 658861 |
|  Kobe Bussan Co. Ltd. | 8463 | 232570 |
|  Komatsu Ltd. | 51743 | 1805416 |
|  Konami Group Corp. | 5699 | 822759 |
|  Kubota Corp. | 55887 | 704044 |
|  Kyocera Corp. | 73824 | 993156 |
|  Kyowa Kirin Co. Ltd. | 12725 | 197778 |
|  Lasertec Corp. | 4630 | 635711 |
|  LY Corp. | 151679 | 488314 |
|  M3, Inc.(x) | 24181 | 390140 |
|  Makita Corp. | 12194 | 396283 |
|  Marubeni Corp. | 79708 | 1993172 |
|  MatsukiyoCocokara & Co. | 19135 | 388691 |
|  Meiji Holdings Co. Ltd.(x) | 13760 | 285277 |
|  Minebea Mitsumi, Inc.(x) | 20122 | 379554 |
|  Mitsubishi Chemical Group Corp. | 69019 | 397308 |
|  Mitsubishi Corp. | 180933 | 4320076 |
|  Mitsubishi Electric Corp. | 106348 | 2734837 |
|  Mitsubishi Estate Co. Ltd. | 59317 | 1364951 |
|  Mitsubishi HC Capital, Inc. | 49118 | 406037 |
|  Mitsubishi Heavy Industries Ltd. | 181300 | 4755470 |
|  Mitsubishi UFJ Financial Group, Inc. | 644706 | 10436665 |
|  Mitsui & Co. Ltd. | 139590 | 3473586 |
|  Mitsui Fudosan Co. Ltd. | 148702 | 1621911 |
|  Mitsui OSK Lines Ltd.(x) | 19888 | 604366 |
|  Mizuho Financial Group, Inc. | 141397 | 4769167 |
|  MonotaRO Co. Ltd. | 14899 | 217211 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  MS&AD Insurance Group Holdings, Inc. | 72495 | $1645151 |
|  Murata Manufacturing Co. Ltd. | 93904 | 1787786 |
|  NEC Corp. | 70465 | 2258063 |
|  Nexon Co. Ltd. | 19006 | 417300 |
|  Nidec Corp. | 46262 | 823822 |
|  Nintendo Co. Ltd. | 61973 | 5366090 |
|  Nippon Building Fund, Inc. (REIT) | 428 | 403733 |
|  Nippon Paint Holdings Co. Ltd.(x) | 53348 | 364347 |
|  Nippon Sanso Holdings Corp. | 9690 | 343804 |
|  Nippon Steel Corp.(x) | 269105 | 1109102 |
|  Nippon Yusen KK(x) | 25024 | 854693 |
|  Nissan Motor Co. Ltd.\* | 122326 | 300924 |
|  Nissin Foods Holdings Co. Ltd.(x) | 10348 | 194946 |
|  Nitori Holdings Co. Ltd.(x) | 23040 | 444566 |
|  Nitto Denko Corp.(x) | 40245 | 957106 |
|  Nomura Holdings, Inc. | 168187 | 1234520 |
|  Nomura Research Institute Ltd. | 21796 | 836114 |
|  NTT, Inc. | 1689720 | 1767588 |
|  Obayashi Corp. | 37937 | 623112 |
|  Obic Co. Ltd. | 18755 | 653638 |
|  Olympus Corp. | 64928 | 821451 |
|  Oracle Corp. | 2248 | 229535 |
|  Oriental Land Co. Ltd.(x) | 60658 | 1463077 |
|  ORIX Corp.(x) | 65276 | 1713503 |
|  Osaka Gas Co. Ltd. | 19581 | 567893 |
|  Otsuka Corp. | 13150 | 274586 |
|  Otsuka Holdings Co. Ltd. | 24538 | 1304014 |
|  Pan Pacific International Holdings Corp. | 104970 | 692063 |
|  Panasonic Holdings Corp. | 131160 | 1427918 |
|  Rakuten Group, Inc.\* | 86546 | 561757 |
|  Recruit Holdings Co. Ltd. | 74735 | 4024173 |
|  Renesas Electronics Corp. | 94230 | 1087036 |
|  Resona Holdings, Inc. | 116252 | 1187400 |
|  Ryohin Keikaku Co. Ltd. | 28400 | 565561 |
|  Sanrio Co. Ltd.(x) | 10200 | 479428 |
|  SBI Holdings, Inc. | 15070 | 655851 |
|  SCREEN Holdings Co. Ltd.(x) | 4400 | 400473 |
|  SCSK Corp. | 9287 | 278136 |
|  Secom Co. Ltd. | 23100 | 847398 |
|  Sekisui Chemical Co. Ltd. | 21193 | 394812 |
|  Sekisui House Ltd. | 34484 | 785121 |
|  Seven & i Holdings Co. Ltd. | 117143 | 1577115 |
|  SG Holdings Co. Ltd.(x) | 16999 | 175755 |
|  Shimadzu Corp. | 13376 | 337826 |
|  Shimano, Inc. | 4338 | 486938 |
|  Shin-Etsu Chemical Co. Ltd. | 94877 | 3113487 |
|  Shionogi & Co. Ltd. | 43723 | 766191 |
|  Shiseido Co. Ltd. | 23492 | 401422 |
|  SMC Corp. | 3327 | 1022048 |
|  SoftBank Corp. | 1619590 | 2384182 |
|  SoftBank Group Corp. | 53777 | 6794626 |
|  Sompo Holdings, Inc. | 50172 | 1552131 |
|  Sony Financial Group, Inc.\* | 345820 | 383504 |
|  Sony Group Corp. | 345820 | 9959410 |
|  Subaru Corp. | 33096 | 678100 |
|  Sumitomo Corp. | 61512 | 1783571 |
|  Sumitomo Electric Industries Ltd. | 39458 | 1125427 |
|  Sumitomo Metal Mining Co. Ltd.(x) | 13845 | 446287 |
|  Sumitomo Mitsui Financial Group, Inc. | 207170 | 5850099 |
|  Sumitomo Mitsui Trust Group, Inc. | 35864 | 1042562 |
|  Sumitomo Realty & Development Co. Ltd. | 17347 | 766208 |
|  Suntory Beverage & Food Ltd. | 7280 | 227677 |
|  Suzuki Motor Corp. | 87548 | 1279017 |
|  Sysmex Corp. | 27347 | 337388 |
|  T&D Holdings, Inc.(x) | 28155 | 689572 |
|  Taisei Corp. | 8723 | 599878 |
|  Takeda Pharmaceutical Co. Ltd. | 89909 | 2623372 |
|  TDK Corp. | 108970 | 1583136 |
|  Terumo Corp. | 74724 | 1234410 |
|  TIS, Inc. | 11516 | 380324 |
|  Toho Co. Ltd.(x) | 5805 | 372908 |
|  Tokio Marine Holdings, Inc. | 103792 | 4399852 |
|  Tokyo Electron Ltd. | 25291 | 4508035 |
|  Tokyo Gas Co. Ltd. | 17578 | 625693 |
|  Tokyo Metro Co. Ltd.(x) | 17800 | 203956 |
|  Tokyu Corp. | 29757 | 362996 |
|  TOPPAN Holdings, Inc. | 13890 | 356443 |
|  Toray Industries, Inc. | 76898 | 491542 |
|  Toyota Industries Corp. | 9073 | 1020893 |
|  Toyota Motor Corp. | 532940 | 10268875 |
|  Toyota Tsusho Corp. | 35846 | 994288 |
|  Trend Micro, Inc. | 6937 | 379955 |
|  Unicharm Corp. | 64636 | 419324 |
|  West Japan Railway Co.(x) | 24594 | 539327 |
|  Yakult Honsha Co. Ltd.(x) | 14256 | 232467 |
|  Yamaha Motor Co. Ltd.(x) | 53114 | 398665 |
|  Yokogawa Electric Corp. | 13148 | 378299 |
|  Yokohama Financial Group, Inc. | 57101 | 439016 |
|  Zensho Holdings Co. Ltd. | 5542 | 362459 |
|  ZOZO, Inc.(x) | 23446 | 215617 |
|  |  | 245111913 |
|  **Luxembourg (0.1%)** |  |  |
|  ArcelorMittal SA | 26996 | 969223 |
|  CVC Capital Partners plc(m) | 11188 | 194665 |
|  Eurofins Scientific SE | 6727 | 487928 |
|  |  | 1651816 |
|  **Macau (0.1%)** |  |  |
|  Galaxy Entertainment Group Ltd. | 120282 | 662776 |
|  Sands China Ltd. | 132546 | 369605 |
|  |  | 1032381 |
|  **Mexico (0.0%)†** |  |  |
|  Fresnillo plc | 12433 | 394619 |
|  **Netherlands (4.0%)** |  |  |
|  ABN AMRO Bank NV (CVA)(m) | 32793 | 1049142 |
|  Adyen NV(m)\* | 1424 | 2282071 |
|  Aegon Ltd. | 71219 | 571255 |
|  Akzo Nobel NV | 9872 | 702367 |
|  Argenx SE\* | 3441 | 2493430 |
|  ASM International NV | 2646 | 1586819 |
|  ASML Holding NV | 22146 | 21531023 |
|  ASR Nederland NV | 8491 | 576001 |
|  BE Semiconductor Industries NV | 4107 | 611648 |
|  Euronext NV(m) | 4519 | 675925 |
|  EXOR NV | 5191 | 507062 |
|  Heineken Holding NV | 7492 | 513246 |
|  Heineken NV | 16217 | 1264608 |
|  IMCD NV | 3249 | 335675 |
|  ING Groep NV | 169910 | 4403584 |
|  JDE Peet's NV | 9156 | 335388 |
|  Koninklijke Ahold Delhaize NV | 51201 | 2070877 |
|  Koninklijke KPN NV | 216941 | 1040957 |
|  Koninklijke Philips NV | 43319 | 1171784 |
|  NN Group NV | 14969 | 1052704 |
|  Randstad NV | 6467 | 274624 |
|  Universal Music Group NV | 61966 | 1786769 |
|  Wolters Kluwer NV | 13488 | 1839303 |
|  |  | 48676262 |
|  **New Zealand (0.3%)** |  |  |
|  Auckland International Airport Ltd. | 95313 | 435431 |
|  Contact Energy Ltd. | 46752 | 246651 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Fisher & Paykel Healthcare Corp. Ltd. | 33882 | $727776 |
|  Infratil Ltd. | 53333 | 381860 |
|  Meridian Energy Ltd. | 67983 | 219531 |
|  Xero Ltd.\* | 9463 | 986212 |
|  |  | 2997461 |
|  **Norway (0.5%)** |  |  |
|  Aker BP ASA | 18266 | 463260 |
|  DNB Bank ASA | 50214 | 1366104 |
|  Equinor ASA | 43134 | 1052033 |
|  Gjensidige Forsikring ASA | 11616 | 340581 |
|  Kongsberg Gruppen ASA | 24397 | 779737 |
|  Mowi ASA | 26902 | 568256 |
|  Norsk Hydro ASA | 75539 | 511690 |
|  Orkla ASA | 40520 | 423084 |
|  Salmar ASA | 3706 | 197934 |
|  Telenor ASA | 35084 | 581478 |
|  |  | 6284157 |
|  **Poland (0.0%)†** |  |  |
|  InPost SA\* | 13574 | 166537 |
|  Portugal (0.2%) |  |  |
|  Banco Comercial Portugues SA, Class R | 467483 | 413393 |
|  EDP SA | 175482 | 831721 |
|  Galp Energia SGPS SA | 24118 | 455883 |
|  Jeronimo Martins SGPS SA | 16368 | 397789 |
|  |  | 2098786 |
|  **Singapore (1.7%)** |  |  |
|  CapitaLand Ascendas REIT (REIT) | 211665 | 457805 |
|  CapitaLand Integrated Commercial Trust (REIT) | 326942 | 580408 |
|  CapitaLand Investment Ltd. | 127879 | 266673 |
|  DBS Group Holdings Ltd. | 120415 | 4774780 |
|  Genting Singapore Ltd. | 329669 | 187842 |
|  Grab Holdings Ltd., Class A\* | 134322 | 808618 |
|  Keppel Ltd. | 81346 | 562507 |
|  Oversea-Chinese Banking Corp. Ltd. | 191865 | 2445258 |
|  Sea Ltd. (ADR)\* | 21413 | 3827145 |
|  Sembcorp Industries Ltd. | 49900 | 232876 |
|  Singapore Airlines Ltd. | 82109 | 415017 |
|  Singapore Exchange Ltd. | 48189 | 617516 |
|  Singapore Technologies Engineering Ltd. | 89934 | 600280 |
|  Singapore Telecommunications Ltd. | 416832 | 1334560 |
|  STMicroelectronics NV | 39236 | 1098651 |
|  United Overseas Bank Ltd. | 71674 | 1921382 |
|  |  | 20131318 |
|  **South Africa (0.2%)** |  |  |
|  Anglo American plc | 63549 | 2380257 |
|  **South Korea (0.0%)†** |  |  |
|  Delivery Hero SE(m)\* | 10443 | 299281 |
|  **Spain (3.1%)** |  |  |
|  Acciona SA | 1326 | 266055 |
|  ACS Actividades de Construccion y Servicios SA | 10022 | 800110 |
|  Aena SME SA(m) | 41927 | 1145452 |
|  Amadeus IT Group SA | 25474 | 2018773 |
|  Banco Bilbao Vizcaya Argentaria SA | 323827 | 6212290 |
|  Banco de Sabadell SA | 282511 | 1094551 |
|  Banco Santander SA | 837062 | 8720947 |
|  Bankinter SA | 38713 | 609271 |
|  CaixaBank SA(x) | 219000 | 2300168 |
|  Cellnex Telecom SA(m) | 27288 | 944785 |
|  EDP Renovaveis SA | 19094 | 251074 |
|  Endesa SA | 18360 | 586527 |
|  Grifols SA | 15717 | 227428 |
|  Iberdrola SA | 356769 | 6745815 |
|  Industria de Diseno Textil SA | 61597 | 3396774 |
|  Redeia Corp. SA | 23457 | 452753 |
|  Repsol SA | 64304 | 1137349 |
|  Telefonica SA(x) | 211634 | 1092766 |
|  |  | 38002888 |
|  **Sweden (2.8%)** |  |  |
|  AddTech AB, Class B | 14283 | 463032 |
|  Alfa Laval AB | 15867 | 722024 |
|  Assa Abloy AB, Class B | 56677 | 1966212 |
|  Atlas Copco AB, Class A | 151887 | 2563609 |
|  Atlas Copco AB, Class B | 87508 | 1310148 |
|  Beijer Ref AB, Class B | 21751 | 338820 |
|  Boliden AB\* | 15350 | 623985 |
|  Epiroc AB, Class A(x) | 38093 | 802775 |
|  Epiroc AB, Class B | 21219 | 399840 |
|  EQT AB | 20388 | 705125 |
|  Essity AB, Class B | 33785 | 882091 |
|  Evolution AB(m) | 7934 | 651784 |
|  Fastighets AB Balder, Class B\* | 40812 | 291923 |
|  H & M Hennes & Mauritz AB, Class B(x) | 32925 | 612902 |
|  Hexagon AB, Class B | 116508 | 1384820 |
|  Holmen AB, Class B | 4675 | 177478 |
|  Industrivarden AB, Class C(x) | 8630 | 341830 |
|  Industrivarden AB, Class A | 6507 | 257947 |
|  Indutrade AB | 15336 | 351537 |
|  Investment AB Latour, Class B | 8837 | 209229 |
|  Investor AB, Class B | 97459 | 3044041 |
|  L E Lundbergforetagen AB, Class B | 4617 | 239521 |
|  Lifco AB, Class B | 13154 | 444037 |
|  Nibe Industrier AB, Class B | 87600 | 344653 |
|  Saab AB, Class B(x) | 17775 | 1084693 |
|  Sagax AB, Class B | 13002 | 271105 |
|  Sandvik AB | 59951 | 1667145 |
|  Securitas AB, Class B | 28020 | 421443 |
|  Skandinaviska Enskilda Banken AB, Class A | 85133 | 1662980 |
|  Skanska AB, Class B | 19670 | 509593 |
|  SKF AB, Class B | 19717 | 488401 |
|  Svenska Cellulosa AB SCA, Class B | 33965 | 448626 |
|  Svenska Handelsbanken AB, Class A | 81416 | 1058519 |
|  Swedbank AB, Class A | 47617 | 1432394 |
|  Swedish Orphan Biovitrum AB\* | 10685 | 325508 |
|  Tele2 AB, Class B | 29733 | 507057 |
|  Telefonaktiebolaget LM Ericsson, Class B | 156432 | 1293409 |
|  Telia Co. AB | 134605 | 513147 |
|  Trelleborg AB, Class B | 11115 | 413814 |
|  Volvo AB, Class B | 89200 | 2553471 |
|  |  | 33780668 |
|  **Switzerland (4.4%)** |  |  |
|  ABB Ltd. (Registered) | 88134 | 6346135 |
|  Avolta AG | 4957 | 268134 |
|  Baloise Holding AG (Registered) | 2383 | 587929 |
|  Banque Cantonale Vaudoise (Registered) | 1518 | 179059 |
|  Barry Callebaut AG (Registered)(x) | 203 | 277960 |
|  Belimo Holding AG (Registered) | 553 | 577626 |
|  BKW AG | 1141 | 243522 |
|  Chocoladefabriken Lindt & Spruengli AG | 54 | 824873 |
|  Chocoladefabriken Lindt & Spruengli AG (Registered) | 6 | 901451 |
|  Cie Financiere Richemont SA (Registered) | 30398 | 5789004 |
|  DSM-Firmenich AG | 10355 | 881647 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  EMS-Chemie Holding AG (Registered) | 396 | $279819 |
|  Galderma Group AG | 7045 | 1223948 |
|  Geberit AG (Registered) | 1891 | 1418636 |
|  Givaudan SA (Registered) | 522 | 2119344 |
|  Helvetia Holding AG (Registered) | 2146 | 524874 |
|  Julius Baer Group Ltd. | 11907 | 822070 |
|  Kuehne + Nagel International AG (Registered)(x) | 2755 | 512723 |
|  Logitech International SA (Registered) | 8399 | 915602 |
|  Lonza Group AG (Registered) | 3950 | 2615966 |
|  Partners Group Holding AG | 1282 | 1664402 |
|  Sandoz Group AG | 23506 | 1392850 |
|  Schindler Holding AG | 2287 | 865328 |
|  Schindler Holding AG (Registered) | 1357 | 488387 |
|  SGS SA (Registered) | 8984 | 930847 |
|  SIG Group AG | 17355 | 178881 |
|  Sika AG (Registered) | 8621 | 1917944 |
|  Sonova Holding AG (Registered) | 2802 | 762406 |
|  Straumann Holding AG (Registered) | 6162 | 657187 |
|  Swatch Group AG (The)(x) | 1662 | 312023 |
|  Swiss Life Holding AG (Registered) | 1584 | 1702494 |
|  Swiss Prime Site AG (Registered) | 4541 | 634902 |
|  Swisscom AG (Registered) | 1480 | 1073676 |
|  UBS Group AG (Registered) | 178514 | 7290359 |
|  VAT Group AG(m) | 1561 | 616517 |
|  Zurich Insurance Group AG | 8224 | 5853550 |
|  |  | 53652075 |
|  **United Arab Emirates (0.0%)** |  |  |
|  NMC Health plc(r)\* | 3282 |  |
|  **United Kingdom (10.2%)** |  |  |
|  3i Group plc | 54893 | 3018729 |
|  Admiral Group plc | 14963 | 674548 |
|  Ashtead Group plc | 24392 | 1628758 |
|  Associated British Foods plc | 17638 | 486525 |
|  AstraZeneca plc | 87200 | 13113722 |
|  Auto Trader Group plc(m) | 47701 | 505655 |
|  Aviva plc | 171058 | 1577723 |
|  BAE Systems plc | 170342 | 4717024 |
|  Barclays plc | 795296 | 4060177 |
|  Barratt Redrow plc | 75242 | 394551 |
|  British American Tobacco plc | 117222 | 6222519 |
|  BT Group plc | 329517 | 847115 |
|  Bunzl plc | 17839 | 562845 |
|  Centrica plc | 272646 | 610892 |
|  CK Hutchison Holdings Ltd. | 148263 | 976423 |
|  Coca-Cola Europacific Partners plc | 13229 | 1196034 |
|  Compass Group plc | 95983 | 3264624 |
|  DCC plc(x) | 5616 | 360427 |
|  Diageo plc | 125745 | 3002627 |
|  Entain plc | 33005 | 387866 |
|  Halma plc | 21071 | 977674 |
|  Hikma Pharmaceuticals plc | 9046 | 206578 |
|  HSBC Holdings plc | 980878 | 13785460 |
|  Imperial Brands plc | 43414 | 1843877 |
|  Informa plc | 73023 | 901162 |
|  InterContinental Hotels Group plc | 8165 | 985445 |
|  International Consolidated Airlines Group SA | 71371 | 371371 |
|  Intertek Group plc | 8677 | 551043 |
|  J Sainsbury plc | 93284 | 419029 |
|  JD Sports Fashion plc | 129820 | 166389 |
|  Kingfisher plc | 95823 | 397829 |
|  Land Securities Group plc (REIT) | 40307 | 315496 |
|  Legal & General Group plc | 326305 | 1044457 |
|  Lloyds Banking Group plc | 3362520 | 3790553 |
|  London Stock Exchange Group plc | 26624 | 3049292 |
|  M&G plc | 127715 | 434563 |
|  Marks & Spencer Group plc | 118661 | 581695 |
|  Melrose Industries plc | 71901 | 588707 |
|  National Grid plc | 274259 | 3937484 |
|  NatWest Group plc | 457120 | 3206696 |
|  Next plc | 6559 | 1091623 |
|  Pearson plc | 33347 | 473823 |
|  Phoenix Group Holdings plc | 41110 | 355784 |
|  Reckitt Benckiser Group plc | 37889 | 2913716 |
|  RELX plc | 103201 | 4936939 |
|  Rentokil Initial plc | 143524 | 725390 |
|  Rolls-Royce Holdings plc | 475117 | 7603920 |
|  Sage Group plc (The) | 55133 | 815632 |
|  Schroders plc | 41077 | 207719 |
|  Segro plc (REIT) | 74299 | 654907 |
|  Severn Trent plc | 14893 | 518366 |
|  Smith & Nephew plc | 45951 | 826568 |
|  Smiths Group plc | 19085 | 603698 |
|  Spirax Group plc | 4237 | 388342 |
|  SSE plc | 62317 | 1459553 |
|  Standard Chartered plc | 110641 | 2136040 |
|  Tesco plc | 369177 | 2211935 |
|  Unilever plc | 137873 | 8158718 |
|  United Utilities Group plc | 39173 | 604019 |
|  Vodafone Group plc | 1092171 | 1265570 |
|  Whitbread plc | 9736 | 421625 |
|  Wise plc, Class A\* | 36579 | 509169 |
|  WPP plc | 62358 | 308456 |
|  |  | 124355096 |
|  **United States (8.7%)** |  |  |
|  Alcon AG | 28257 | 2103523 |
|  Amrize Ltd.\* | 29176 | 1407030 |
|  BP plc | 891905 | 5106969 |
|  CSL Ltd. | 27381 | 3590989 |
|  CyberArk Software Ltd.\* | 2722 | 1315134 |
|  Experian plc | 51655 | 2585704 |
|  Ferrovial SE | 28035 | 1605569 |
|  GSK plc | 229658 | 4863112 |
|  Haleon plc | 507897 | 2270527 |
|  Holcim AG | 28689 | 2426879 |
|  James Hardie Industries plc (CHDI)\* | 31958 | 593797 |
|  Monday.com Ltd.\* | 2148 | 416046 |
|  Nestle SA (Registered) | 144887 | 13299282 |
|  Novartis AG (Registered) | 106910 | 13446177 |
|  QIAGEN NV | 12481 | 552357 |
|  Roche Holding AG (BMV Mexico Stock Exchange) | 39507 | 12898523 |
|  Roche Holding AG (OTC US Exchange) | 1851 | 632928 |
|  Sanofi SA | 62136 | 5730283 |
|  Schneider Electric SE | 30789 | 8588723 |
|  Shell plc | 331368 | 11794308 |
|  Spotify Technology SA\* | 8597 | 6000706 |
|  Stellantis NV | 113335 | 1046391 |
|  Swiss Re AG | 16800 | 3103373 |
|  Tenaris SA | 20805 | 371033 |
|  |  | 105749363 |
|  **Total Common Stocks (90.5%)**<br> *(Cost $595,325,481)* |  | 1098362037 |
|  | **Number of<br>Rights** | **Value<br>(Note 1)** |
|  RIGHTS: |  |  |
|  **Belgium (0.0%)†** |  |  |
|  Sofina SA, expiring 10/2/25(x)\* | 675 | 1506 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Rights** | **Value<br>(Note 1)** |
|  **Denmark (0.0%)†** |  |  |
|  Orsted A/S, expiring 10/2/25(x)\* | 144615 | $143977 |
|  **Total Rights (0.0%)†**<br> *(Cost $154,633)* |  | 145483 |
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (1.0%)** |  |  |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 4000000 | 4000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 8332741 | 8332741 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 12332741 |
|  **Total Short-Term Investments (1.0%)**<br> *(Cost $12,332,741)* |  | 12332741 |
|  **Total Investments in Securities (91.5%)**<br> *(Cost $607,812,855)* |  | 1110840261 |
|  **Other Assets Less Liabilities (8.5%)** |  | 102994530 |
|  **Net Assets (100%)** |  | $1213834791 |

---

*\** *Non-income producing.* 

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $12,555,068 or 1.0% of net assets.* 

*(q)* *Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $27,371,464. This was collateralized by $16,706,414 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.000%, maturing 10/9/25 – 5/15/55 and by cash of $12,332,741 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*AUD — Australian Dollar* 

*CHDI — Clearing House Electronic Subregister System (CHESS) Depository Interest* 

*CVA — Dutch Certification* 

*EUR — European Currency Unit* 

*GBP — British Pound* 

*JPY — Japanese Yen* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Sector Weightings<br>as of September 30, 2025** | **Market<br>Value** | **% of<br>Net Assets** |
|  Financials | $271615538 | 22.4% |
|  Industrials | 212511294 | 17.5 |
|  Health Care | 118597215 | 9.8 |
|  Consumer Discretionary | 112259355 | 9.2 |
|  Information Technology | 91430601 | 7.5 |
|  Consumer Staples | 82796591 | 6.8 |
|  Materials | 61903864 | 5.1 |
|  Communication Services | 54143377 | 4.5 |
|  Utilities | 37527882 | 3.1 |
|  Energy | 34871971 | 2.9 |
|  Real Estate | 20849832 | 1.7 |
|  Investment Companies | 12332741 | 1 |
|  Cash and Other | 102994530 | 8.5 |
|  |  | 100.0% |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation**<br>**(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  EURO STOXX 50 Index | 683 | 12/2025 | EUR | 44431957 | 827438 |
|  FTSE 100 Index | 220 | 12/2025 | GBP | 27834723 | 201057 |
|  MSCI EAFE E-Mini Index | 8 | 12/2025 | USD | 1114120 | (2418) |
|  SPI 200 Index | 76 | 12/2025 | AUD | 11155402 | (14821) |
|  TOPIX Index | 130 | 12/2025 | JPY | 27611320 | 338260 |
|  |  |  |  |  | 1349516 |

---

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  AUD | 8024810 | USD | 5341986 | HSBC Bank plc | 12/19/2025 | (27027) |
|  GBP | 9123979 | USD | 12373095 | HSBC Bank plc | 12/19/2025 | (101186) |
|  JPY | 1620028180 | USD | 11112102 | HSBC Bank plc | 12/19/2025 | (67201) |
|  USD | 17407755 | EUR | 14762212 | HSBC Bank plc | 12/19/2025 | (3335) |
|  **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** |  |  | (198749) |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Australia | $— | $76490166 | $— | $76490166 |
|  Austria |  | 2733415 |  | 2733415 |
|  Belgium |  | 9107072 |  | 9107072 |
|  Brazil |  | 348797 |  | 348797 |
|  Chile |  | 843337 |  | 843337 |
|  China |  | 7197306 |  | 7197306 |
|  Denmark |  | 20576446 |  | 20576446 |
|  Finland |  | 11794555 |  | 11794555 |
|  France |  | 102521541 |  | 102521541 |
|  Germany |  | 107547445 |  | 107547445 |
|  Hong Kong | 1128789 | 20195561 |  | 21324350 |
|  Ireland | 1200562 | 3535949 |  | 4736511 |
|  Israel | 2854209 | 7173385 |  | 10027594 |
|  Italy |  | 36348624 |  | 36348624 |
|  Japan |  | 245111913 |  | 245111913 |
|  Luxembourg |  | 1651816 |  | 1651816 |
|  Macau |  | 1032381 |  | 1032381 |
|  Mexico |  | 394619 |  | 394619 |
|  Netherlands |  | 48676262 |  | 48676262 |
|  New Zealand |  | 2997461 |  | 2997461 |
|  Norway |  | 6284157 |  | 6284157 |
|  Poland |  | 166537 |  | 166537 |
|  Portugal |  | 2098786 |  | 2098786 |
|  Singapore | 4635763 | 15495555 |  | 20131318 |
|  South Africa |  | 2380257 |  | 2380257 |
|  South Korea |  | 299281 |  | 299281 |
|  Spain |  | 38002888 |  | 38002888 |
|  Sweden |  | 33780668 |  | 33780668 |
|  Switzerland |  | 53652075 |  | 53652075 |
|  United Arab Emirates |  |  | — (a) | — (a) |
|  United Kingdom | 1196034 | 123159062 |  | 124355096 |
|  United States | 7731886 | 98017477 |  | 105749363 |
|  **Futures** | 1366755 |  |  | 1366755 |
|  **Rights** |  |  |  |  |
|  Belgium |  | 1506 |  | 1506 |
|  Denmark |  | 143977 |  | 143977 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 12332741 |  |  | 12332741 |
|  **Total Assets** | $**32446739** | $**1079760277** | $**—** | $**1112207016** |
|  **Liabilities:** |  |  |  |  |
|  **Forward Currency Contracts** | $— | $(198749) | $— | $(198749) |
|  **Futures** | (17239) |  |  | (17239) |
|  **Total Liabilities** | $**(17239)** | $**(198749)** | $**—** | $**(215988)** |
|  **Total** | $**32429500** | $**1079561528** | $**—** | $**1111991028** |

---

(a) Value is zero.

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

ATM INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $547583515 |
|  Aggregate gross unrealized depreciation | (67805497) |
|  Net unrealized appreciation | $479778018 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $632213010 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/500 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (9.2%)** |  |  |
|  ***Diversified Telecommunication Services (0.6%)*** |  |  |
|  AT&T, Inc. | 951581 | $26872648 |
|  Verizon Communications, Inc. | 561113 | 24660916 |
|  |  | 51533564 |
|  ***Entertainment (1.4%)*** |  |  |
|  Electronic Arts, Inc. | 29938 | 6038495 |
|  Live Nation Entertainment, Inc.\* | 20746 | 3389896 |
|  Netflix, Inc.\* | 56550 | 67798926 |
|  Take-Two Interactive Software, Inc.\* | 22536 | 5822401 |
|  TKO Group Holdings, Inc., Class A | 8590 | 1734836 |
|  Walt Disney Co. (The) | 239271 | 27396530 |
|  Warner Bros Discovery, Inc.\* | 329478 | 6434705 |
|  |  | 118615789 |
|  ***Interactive Media & Services (6.6%)*** |  |  |
|  Alphabet, Inc., Class A | 774133 | 188191732 |
|  Alphabet, Inc., Class C | 621462 | 151357070 |
|  Match Group, Inc. | 29714 | 1049499 |
|  Meta Platforms, Inc., Class A | 288648 | 211977318 |
|  |  | 552575619 |
|  ***Media (0.4%)*** |  |  |
|  Charter Communications, Inc., Class A(x)\* | 11989 | 3298234 |
|  Comcast Corp., Class A | 490106 | 15399131 |
|  Fox Corp., Class A | 26298 | 1658352 |
|  Fox Corp., Class B | 18843 | 1079515 |
|  Interpublic Group of Cos., Inc. (The) | 47750 | 1332702 |
|  News Corp., Class A | 51419 | 1579077 |
|  News Corp., Class B | 12365 | 427211 |
|  Omnicom Group, Inc. | 26372 | 2150109 |
|  Paramount Skydance Corp., Class B(x) | 32968 | 623755 |
|  Trade Desk, Inc. (The), Class A\* | 58808 | 2882180 |
|  |  | 30430266 |
|  ***Wireless Telecommunication Services (0.2%)*** |  |  |
|  T-Mobile US, Inc. | 64293 | 15390459 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 768545697 |
|  **Consumer Discretionary (9.6%)** |  |  |
|  ***Automobile Components (0.0%)†*** |  |  |
|  Aptiv plc\* | 28609 | 2466668 |
|  ***Automobiles (2.2%)*** |  |  |
|  Ford Motor Co. | 514526 | 6153731 |
|  General Motors Co. | 128416 | 7829523 |
|  Tesla, Inc.\* | 373444 | 166078016 |
|  |  | 180061270 |
|  ***Broadline Retail (3.5%)*** |  |  |
|  Amazon.com, Inc.\* | 1291561 | 283588049 |
|  eBay, Inc. | 62151 | 5652633 |
|  |  | 289240682 |
|  ***Distributors (0.1%)*** |  |  |
|  Genuine Parts Co. | 18323 | 2539568 |
|  LKQ Corp. | 37567 | 1147296 |
|  Pool Corp. | 4224 | 1309736 |
|  |  | 4996600 |
|  ***Hotels, Restaurants & Leisure (1.7%)*** |  |  |
|  Airbnb, Inc., Class A\* | 56709 | 6885607 |
|  Booking Holdings, Inc. | 4313 | 23287052 |
|  Carnival Corp.\* | 140163 | 4052112 |
|  Chipotle Mexican Grill, Inc.\* | 179794 | 7046127 |
|  Darden Restaurants, Inc. | 15205 | 2894424 |
|  Domino's Pizza, Inc. | 4157 | 1794618 |
|  DoorDash, Inc., Class A\* | 49263 | 13399043 |
|  Expedia Group, Inc. | 16144 | 3450780 |
|  Hilton Worldwide Holdings, Inc. | 31034 | 8051461 |
|  Las Vegas Sands Corp. | 40131 | 2158646 |
|  Marriott International, Inc., Class A | 29985 | 7809293 |
|  McDonald's Corp. | 94967 | 28859522 |
|  MGM Resorts International\* | 29882 | 1035710 |
|  Norwegian Cruise Line Holdings Ltd.\* | 55641 | 1370438 |
|  Royal Caribbean Cruises Ltd. | 33682 | 10898822 |
|  Starbucks Corp. | 150482 | 12730777 |
|  Wynn Resorts Ltd. | 11410 | 1463561 |
|  Yum! Brands, Inc. | 36432 | 5537664 |
|  |  | 142725657 |
|  ***Household Durables (0.3%)*** |  |  |
|  DR Horton, Inc. | 36695 | 6218702 |
|  Garmin Ltd. | 21775 | 5361440 |
|  Lennar Corp., Class A | 30147 | 3799728 |
|  Mohawk Industries, Inc.\* | 7860 | 1013311 |
|  NVR, Inc.\* | 380 | 3053171 |
|  PulteGroup, Inc. | 26433 | 3492592 |
|  |  | 22938944 |
|  ***Leisure Products (0.0%)†*** |  |  |
|  Hasbro, Inc. | 18294 | 1387600 |
|  ***Specialty Retail (1.6%)*** |  |  |
|  AutoZone, Inc.\* | 2222 | 9532913 |
|  Best Buy Co., Inc. | 25004 | 1890803 |
|  CarMax, Inc.\* | 18820 | 844453 |
|  Home Depot, Inc. (The) | 132406 | 53649587 |
|  Lowe's Cos., Inc. | 74538 | 18732145 |
|  O'Reilly Automotive, Inc.\* | 112891 | 12170779 |
|  Ross Stores, Inc. | 43917 | 6692512 |
|  TJX Cos., Inc. (The) | 148467 | 21459420 |
|  Tractor Supply Co. | 71871 | 4087304 |
|  Ulta Beauty, Inc.\* | 6136 | 3354858 |
|  Williams-Sonoma, Inc. | 16912 | 3305450 |
|  |  | 135720224 |
|  ***Textiles, Apparel & Luxury Goods (0.2%)*** |  |  |
|  Deckers Outdoor Corp.\* | 19882 | 2015438 |
|  Lululemon Athletica, Inc.\* | 14960 | 2661833 |
|  NIKE, Inc., Class B | 158642 | 11062107 |
|  Ralph Lauren Corp. | 4985 | 1563097 |
|  Tapestry, Inc. | 28175 | 3189973 |
|  |  | 20492448 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 800030093 |
|  **Consumer Staples (4.5%)** |  |  |
|  ***Beverages (0.9%)*** |  |  |
|  Brown-Forman Corp., Class B | 20052 | 543008 |
|  Coca-Cola Co. (The) | 515463 | 34185506 |
|  Constellation Brands, Inc., Class A | 18685 | 2516309 |
|  Keurig Dr Pepper, Inc. | 181671 | 4634427 |
|  Molson Coors Beverage Co., Class B | 24074 | 1089349 |
|  Monster Beverage Corp.\* | 93451 | 6290187 |
|  PepsiCo, Inc. | 182198 | 25587887 |
|  |  | 74846673 |
|  ***Consumer Staples Distribution & Retail (1.6%)*** |  |  |
|  Costco Wholesale Corp. | 59018 | 54628831 |
|  Dollar General Corp. | 28720 | 2968212 |
|  Dollar Tree, Inc.\* | 25993 | 2452959 |
|  Kroger Co. (The) | 82587 | 5567190 |
|  Sysco Corp. | 63051 | 5191619 |
|  Target Corp. | 59970 | 5379309 |
|  Walmart, Inc. | 582475 | 60029874 |
|  |  | 136217994 |
|  ***Food Products (0.5%)*** |  |  |
|  Archer-Daniels-Midland Co. | 64081 | 3828199 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/500 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Bunge Global SA | 18745 | $1523031 |
|  Campbell's Co. (The)(x) | 26019 | 821680 |
|  Conagra Brands, Inc. | 69620 | 1274742 |
|  General Mills, Inc. | 73420 | 3701836 |
|  Hershey Co. (The) | 19786 | 3700971 |
|  Hormel Foods Corp. | 39661 | 981213 |
|  J M Smucker Co. (The) | 13895 | 1508997 |
|  Kellanova | 36198 | 2968960 |
|  Kraft Heinz Co. (The) | 111417 | 2901299 |
|  Lamb Weston Holdings, Inc. | 16895 | 981262 |
|  McCormick & Co., Inc. (Non-Voting) | 31967 | 2138912 |
|  Mondelez International, Inc., Class A | 173910 | 10864158 |
|  Tyson Foods, Inc., Class A | 37422 | 2032015 |
|  |  | 39227275 |
|  ***Household Products (0.8%)*** |  |  |
|  Church & Dwight Co., Inc. | 32530 | 2850604 |
|  Clorox Co. (The) | 16632 | 2050726 |
|  Colgate-Palmolive Co. | 108459 | 8670212 |
|  Kimberly-Clark Corp. | 43644 | 5426695 |
|  Procter & Gamble Co. (The) | 311725 | 47896546 |
|  |  | 66894783 |
|  ***Personal Care Products (0.1%)*** |  |  |
|  Estee Lauder Cos., Inc. (The), Class A | 30937 | 2726168 |
|  Kenvue, Inc. | 249947 | 4056640 |
|  |  | 6782808 |
|  ***Tobacco (0.6%)*** |  |  |
|  Altria Group, Inc. | 223236 | 14746970 |
|  Philip Morris International, Inc. | 207153 | 33600217 |
|  |  | 48347187 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 372316720 |
|  **Energy (2.6%)** |  |  |
|  ***Energy Equipment & Services (0.2%)*** |  |  |
|  Baker Hughes Co. | 130022 | 6334672 |
|  Halliburton Co. | 117561 | 2892000 |
|  Schlumberger NV | 195867 | 6731949 |
|  |  | 15958621 |
|  ***Oil, Gas & Consumable Fuels (2.4%)*** |  |  |
|  APA Corp. | 48310 | 1172967 |
|  Chevron Corp. | 256121 | 39773030 |
|  ConocoPhillips | 166211 | 15721898 |
|  Coterra Energy, Inc. | 101423 | 2398654 |
|  Devon Energy Corp. | 82877 | 2905668 |
|  Diamondback Energy, Inc. | 24771 | 3544730 |
|  EOG Resources, Inc. | 72908 | 8174445 |
|  EQT Corp. | 79552 | 4330015 |
|  Expand Energy Corp. | 31942 | 3393518 |
|  Exxon Mobil Corp. | 567358 | 63969614 |
|  Kinder Morgan, Inc. | 259745 | 7353381 |
|  Marathon Petroleum Corp. | 40945 | 7891739 |
|  Occidental Petroleum Corp. | 95216 | 4498956 |
|  ONEOK, Inc. | 83210 | 6071834 |
|  Phillips 66 | 54282 | 7383438 |
|  Targa Resources Corp. | 28292 | 4740042 |
|  Texas Pacific Land Corp. | 2562 | 2391986 |
|  Valero Energy Corp. | 41342 | 7038889 |
|  Williams Cos., Inc. (The) | 162408 | 10288547 |
|  |  | 203043351 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 219001972 |
|  **Financials (12.3%)** |  |  |
|  ***Banks (3.2%)*** |  |  |
|  Bank of America Corp. | 906867 | 46785269 |
|  Citigroup, Inc. | 244989 | 24866384 |
|  Citizens Financial Group, Inc. | 58611 | 3115761 |
|  Fifth Third Bancorp | 90049 | 4011683 |
|  Huntington Bancshares, Inc. | 190672 | 3292905 |
|  JPMorgan Chase & Co. | 365940 | 115428454 |
|  KeyCorp | 120699 | 2255864 |
|  M&T Bank Corp. | 20796 | 4109706 |
|  PNC Financial Services Group, Inc. (The) | 53052 | 10659738 |
|  Regions Financial Corp. | 121087 | 3193064 |
|  Truist Financial Corp. | 170959 | 7816245 |
|  US Bancorp | 208230 | 10063756 |
|  Wells Fargo & Co. | 426317 | 35733891 |
|  |  | 271332720 |
|  ***Capital Markets (3.2%)*** |  |  |
|  Ameriprise Financial, Inc. | 12376 | 6079710 |
|  Bank of New York Mellon Corp. (The) | 93270 | 10162699 |
|  BlackRock, Inc.‡ | 19166 | 22345064 |
|  Blackstone, Inc. | 98369 | 16806344 |
|  Cboe Global Markets, Inc. | 14248 | 3494322 |
|  Charles Schwab Corp. (The) | 227077 | 21679041 |
|  CME Group, Inc. | 47712 | 12891305 |
|  Coinbase Global, Inc., Class A\* | 30097 | 10157436 |
|  FactSet Research Systems, Inc. | 5379 | 1541030 |
|  Franklin Resources, Inc. | 36448 | 843042 |
|  Goldman Sachs Group, Inc. (The) | 40286 | 32081756 |
|  Interactive Brokers Group, Inc., Class A | 58739 | 4041831 |
|  Intercontinental Exchange, Inc. | 75877 | 12783757 |
|  Invesco Ltd. | 56450 | 1294963 |
|  KKR & Co., Inc. | 91188 | 11849881 |
|  Moody's Corp. | 20743 | 9883625 |
|  Morgan Stanley | 161456 | 25665046 |
|  MSCI, Inc. | 10209 | 5792689 |
|  Nasdaq, Inc. | 60325 | 5335746 |
|  Northern Trust Corp. | 25871 | 3482237 |
|  Raymond James Financial, Inc. | 24228 | 4181753 |
|  Robinhood Markets, Inc., Class A\* | 103000 | 14747540 |
|  S&P Global, Inc. | 41588 | 20241295 |
|  State Street Corp. | 37641 | 4366732 |
| T. Rowe Price Group, Inc. | 29969 | 3076018 |
|  |  | 264824862 |
|  ***Consumer Finance (0.5%)*** |  |  |
|  American Express Co. | 72235 | 23993578 |
|  Capital One Financial Corp. | 85105 | 18091621 |
|  Synchrony Financial | 50484 | 3586888 |
|  |  | 45672087 |
|  ***Financial Services (3.7%)*** |  |  |
|  Apollo Global Management, Inc. | 60575 | 8072830 |
|  Berkshire Hathaway, Inc., Class B\* | 244035 | 122686156 |
|  Block, Inc., Class A\* | 73030 | 5277878 |
|  Corpay, Inc.\* | 9654 | 2780931 |
|  Fidelity National Information Services, Inc. | 68921 | 4544651 |
|  Fiserv, Inc.\* | 72342 | 9327054 |
|  Global Payments, Inc. | 33618 | 2792983 |
|  Jack Henry & Associates, Inc. | 9763 | 1454004 |
|  Mastercard, Inc., Class A | 109857 | 62487760 |
|  PayPal Holdings, Inc.\* | 126495 | 8482755 |
|  Visa, Inc., Class A | 226063 | 77173387 |
|  |  | 305080389 |
|  ***Insurance (1.7%)*** |  |  |
|  Aflac, Inc. | 64043 | 7153603 |
|  Allstate Corp. (The) | 35702 | 7663434 |
|  American International Group, Inc. | 73368 | 5762323 |
|  Aon plc, Class A | 28998 | 10340107 |
|  Arch Capital Group Ltd. | 50926 | 4620516 |
|  Arthur J Gallagher & Co. | 34429 | 10664038 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/500 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Assurant, Inc. | 6917 | $1498222 |
|  Brown & Brown, Inc. | 37557 | 3522471 |
|  Chubb Ltd. | 49330 | 13923392 |
|  Cincinnati Financial Corp. | 21195 | 3350929 |
|  Erie Indemnity Co., Class A | 3473 | 1104970 |
|  Everest Group Ltd. | 5500 | 1926265 |
|  Globe Life, Inc. | 10572 | 1511479 |
|  Hartford Insurance Group, Inc. (The) | 36784 | 4906618 |
|  Loews Corp. | 22686 | 2277448 |
|  Marsh & McLennan Cos., Inc. | 65164 | 13132501 |
|  MetLife, Inc. | 73223 | 6031379 |
|  Principal Financial Group, Inc. | 26298 | 2180367 |
|  Progressive Corp. (The) | 78013 | 19265310 |
|  Prudential Financial, Inc. | 46154 | 4788016 |
|  Travelers Cos., Inc. (The) | 29730 | 8301211 |
|  W.R. Berkley Corp. | 39178 | 3001818 |
|  Willis Towers Watson plc | 12720 | 4394124 |
|  |  | 141320541 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 1028230599 |
|  **Health Care (8.1%)** |  |  |
|  ***Biotechnology (1.4%)*** |  |  |
|  AbbVie, Inc. | 235095 | 54433896 |
|  Amgen, Inc. | 71579 | 20199594 |
|  Biogen, Inc.\* | 20129 | 2819670 |
|  Gilead Sciences, Inc. | 165128 | 18329208 |
|  Incyte Corp.\* | 22865 | 1939180 |
|  Moderna, Inc.\* | 49402 | 1276054 |
|  Regeneron Pharmaceuticals, Inc. | 13436 | 7554660 |
|  Vertex Pharmaceuticals, Inc.\* | 33984 | 13309494 |
|  |  | 119861756 |
|  ***Health Care Equipment & Supplies (1.9%)*** |  |  |
|  Abbott Laboratories | 231622 | 31023451 |
|  Align Technology, Inc.\* | 9313 | 1166174 |
|  Baxter International, Inc. | 64921 | 1478251 |
|  Becton Dickinson & Co. | 38624 | 7229254 |
|  Boston Scientific Corp.\* | 196949 | 19228131 |
|  Cooper Cos., Inc. (The)\* | 25628 | 1757056 |
|  Dexcom, Inc.\* | 53321 | 3587970 |
|  Edwards Lifesciences Corp.\* | 77608 | 6035574 |
|  GE HealthCare Technologies, Inc. | 62231 | 4673548 |
|  Hologic, Inc.\* | 30431 | 2053788 |
|  IDEXX Laboratories, Inc.\* | 10492 | 6703234 |
|  Insulet Corp.\* | 9454 | 2918733 |
|  Intuitive Surgical, Inc.\* | 47707 | 21336002 |
|  Medtronic plc | 170230 | 16212705 |
|  ResMed, Inc.(x) | 19920 | 5452702 |
|  Solventum Corp.\* | 17855 | 1303415 |
|  STERIS plc | 12860 | 3182078 |
|  Stryker Corp. | 45706 | 16896137 |
|  Zimmer Biomet Holdings, Inc. | 26665 | 2626503 |
|  |  | 154864706 |
|  ***Health Care Providers & Services (1.5%)*** |  |  |
|  Cardinal Health, Inc. | 31339 | 4918969 |
|  Cencora, Inc. | 25801 | 8063587 |
|  Centene Corp.\* | 61865 | 2207343 |
|  Cigna Group (The) | 35954 | 10363740 |
|  CVS Health Corp. | 169913 | 12809741 |
|  DaVita, Inc.\* | 4924 | 654252 |
|  Elevance Health, Inc. | 30282 | 9784720 |
|  HCA Healthcare, Inc. | 21798 | 9290308 |
|  Henry Schein, Inc.\* | 13052 | 866261 |
|  Humana, Inc. | 16146 | 4200705 |
|  Labcorp Holdings, Inc. | 11459 | 3289421 |
|  McKesson Corp. | 16509 | 12753863 |
|  Molina Healthcare, Inc.\* | 7045 | 1348131 |
|  Quest Diagnostics, Inc. | 15082 | 2874328 |
|  UnitedHealth Group, Inc. | 120528 | 41618318 |
|  Universal Health Services, Inc., Class B | 6968 | 1424538 |
|  |  | 126468225 |
|  ***Life Sciences Tools & Services (0.8%)*** |  |  |
|  Agilent Technologies, Inc. | 38690 | 4965861 |
|  Bio-Techne Corp. | 21018 | 1169231 |
|  Charles River Laboratories International, Inc.\* | 6650 | 1040459 |
|  Danaher Corp. | 84543 | 16761495 |
|  IQVIA Holdings, Inc.\* | 21945 | 4168233 |
|  Mettler-Toledo International, Inc.\* | 2765 | 3394342 |
|  Revvity, Inc. | 14928 | 1308439 |
|  Thermo Fisher Scientific, Inc. | 50253 | 24373710 |
|  Waters Corp.\* | 8055 | 2414970 |
|  West Pharmaceutical Services, Inc. | 9844 | 2582377 |
|  |  | 62179117 |
|  ***Pharmaceuticals (2.5%)*** |  |  |
|  Bristol-Myers Squibb Co. | 269479 | 12153503 |
|  Eli Lilly & Co. | 105749 | 80686487 |
|  Johnson & Johnson | 320504 | 59427852 |
|  Merck & Co., Inc. | 332408 | 27899003 |
|  Pfizer, Inc. | 756044 | 19264001 |
|  Viatris, Inc. | 160296 | 1586930 |
|  Zoetis, Inc. | 59633 | 8725501 |
|  |  | 209743277 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 673117081 |
|  **Industrials (7.5%)** |  |  |
|  ***Aerospace & Defense (2.0%)*** |  |  |
|  Axon Enterprise, Inc.\* | 10447 | 7497185 |
|  Boeing Co. (The)\* | 100493 | 21689404 |
|  GE Aerospace | 141124 | 42452922 |
|  General Dynamics Corp. | 33883 | 11554103 |
|  Howmet Aerospace, Inc. | 53982 | 10592888 |
|  Huntington Ingalls Industries, Inc. | 5044 | 1452218 |
|  L3Harris Technologies, Inc. | 25202 | 7696943 |
|  Lockheed Martin Corp. | 27341 | 13648901 |
|  Northrop Grumman Corp. | 17764 | 10823960 |
|  RTX Corp. | 178135 | 29807329 |
|  Textron, Inc. | 23831 | 2013481 |
|  TransDigm Group, Inc. | 7531 | 9926009 |
|  |  | 169155343 |
|  ***Air Freight & Logistics (0.2%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 15399 | 2038827 |
|  Expeditors International of Washington, Inc. | 17400 | 2133066 |
|  FedEx Corp. | 28632 | 6751712 |
|  United Parcel Service, Inc., Class B | 97441 | 8139247 |
|  |  | 19062852 |
|  ***Building Products (0.5%)*** |  |  |
|  A.O. Smith Corp. | 14740 | 1082063 |
|  Allegion plc | 10898 | 1932760 |
|  Builders FirstSource, Inc.\* | 14807 | 1795349 |
|  Carrier Global Corp. | 106053 | 6331364 |
|  Johnson Controls International plc | 88089 | 9685386 |
|  Lennox International, Inc. | 4078 | 2158730 |
|  Masco Corp. | 28463 | 2003511 |
|  Trane Technologies plc | 29507 | 12450774 |
|  |  | 37439937 |
|  ***Commercial Services & Supplies (0.5%)*** |  |  |
|  Cintas Corp. | 45986 | 9439086 |
|  Copart, Inc.\* | 120212 | 5405934 |
|  Republic Services, Inc. | 27155 | 6231530 |
|  Rollins, Inc. | 36337 | 2134435 |
|  Veralto Corp. | 33220 | 3541584 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/500 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Waste Management, Inc. | 49182 | $10860861 |
|  |  | 37613430 |
|  ***Construction & Engineering (0.1%)*** |  |  |
|  EMCOR Group, Inc. | 5957 | 3869310 |
|  Quanta Services, Inc. | 19806 | 8208002 |
|  |  | 12077312 |
|  ***Electrical Equipment (0.8%)*** |  |  |
|  AMETEK, Inc. | 31104 | 5847552 |
|  Eaton Corp. plc | 51808 | 19389144 |
|  Emerson Electric Co. | 75445 | 9896875 |
|  GE Vernova, Inc. | 36228 | 22276597 |
|  Generac Holdings, Inc.\* | 7520 | 1258848 |
|  Hubbell, Inc., Class B | 6963 | 2996249 |
|  Rockwell Automation, Inc. | 15309 | 5350955 |
|  |  | 67016220 |
|  ***Ground Transportation (0.8%)*** |  |  |
|  CSX Corp. | 251687 | 8937405 |
|  JB Hunt Transport Services, Inc. | 9998 | 1341432 |
|  Norfolk Southern Corp. | 29811 | 8955522 |
|  Old Dominion Freight Line, Inc. | 25193 | 3546671 |
|  Uber Technologies, Inc.\* | 277530 | 27189614 |
|  Union Pacific Corp. | 78922 | 18654793 |
|  |  | 68625437 |
|  ***Industrial Conglomerates (0.3%)*** |  |  |
|  3M Co. | 70872 | 10997917 |
|  Honeywell International, Inc. | 84493 | 17785776 |
|  |  | 28783693 |
|  ***Machinery (1.4%)*** |  |  |
|  Caterpillar, Inc. | 62346 | 29748394 |
|  Cummins, Inc. | 18343 | 7747533 |
|  Deere & Co. | 33496 | 15316381 |
|  Dover Corp. | 18793 | 3135236 |
|  Fortive Corp. | 46833 | 2294349 |
|  IDEX Corp. | 10436 | 1698563 |
|  Illinois Tool Works, Inc. | 35560 | 9272626 |
|  Ingersoll Rand, Inc. | 48133 | 3976748 |
|  Nordson Corp. | 6772 | 1536905 |
|  Otis Worldwide Corp. | 51759 | 4732325 |
|  PACCAR, Inc. | 70256 | 6907570 |
|  Parker-Hannifin Corp. | 16930 | 12835480 |
|  Pentair plc | 22262 | 2465739 |
|  Snap-on, Inc. | 6897 | 2390017 |
|  Stanley Black & Decker, Inc. | 20469 | 1521461 |
|  Westinghouse Air Brake Technologies Corp. | 22108 | 4431991 |
|  Xylem, Inc. | 32659 | 4817203 |
|  |  | 114828521 |
|  ***Passenger Airlines (0.1%)*** |  |  |
|  Delta Air Lines, Inc. | 87325 | 4955694 |
|  Southwest Airlines Co. | 69893 | 2230286 |
|  United Airlines Holdings, Inc.\* | 42123 | 4064869 |
|  |  | 11250849 |
|  ***Professional Services (0.5%)*** |  |  |
|  Automatic Data Processing, Inc. | 53864 | 15809084 |
|  Broadridge Financial Solutions, Inc. | 15635 | 3723788 |
|  Dayforce, Inc.\* | 20307 | 1398949 |
|  Equifax, Inc. | 16709 | 4286360 |
|  Jacobs Solutions, Inc. | 15739 | 2358646 |
|  Leidos Holdings, Inc. | 17451 | 3297541 |
|  Paychex, Inc. | 42889 | 5436610 |
|  Paycom Software, Inc. | 6190 | 1288387 |
|  Verisk Analytics, Inc. | 18363 | 4618478 |
|  |  | 42217843 |
|  ***Trading Companies & Distributors (0.3%)*** |  |  |
|  Fastenal Co. | 153416 | 7523521 |
|  United Rentals, Inc. | 8498 | 8112701 |
|  W.W. Grainger, Inc. | 5792 | 5519544 |
|  |  | 21155766 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 629227203 |
|  **Information Technology (31.7%)** |  |  |
|  ***Communications Equipment (0.8%)*** |  |  |
|  Arista Networks, Inc.\* | 137121 | 19979901 |
|  Cisco Systems, Inc. | 527001 | 36057408 |
|  F5, Inc.\* | 7903 | 2554171 |
|  Motorola Solutions, Inc. | 22331 | 10211743 |
|  |  | 68803223 |
|  ***Electronic Equipment, Instruments & Components (0.7%)*** |  |  |
|  Amphenol Corp., Class A | 163075 | 20180531 |
|  CDW Corp. | 18140 | 2889339 |
|  Corning, Inc. | 104917 | 8606342 |
|  Jabil, Inc. | 14108 | 3063835 |
|  Keysight Technologies, Inc.\* | 22634 | 3959139 |
|  TE Connectivity plc | 39269 | 8620724 |
|  Teledyne Technologies, Inc.\* | 6176 | 3619383 |
|  Trimble, Inc.\* | 30805 | 2515228 |
|  Zebra Technologies Corp., Class A\* | 7095 | 2108350 |
|  |  | 55562871 |
|  ***IT Services (0.9%)*** |  |  |
|  Accenture plc, Class A | 82890 | 20440674 |
|  Akamai Technologies, Inc.\* | 19052 | 1443379 |
|  Cognizant Technology Solutions Corp., Class A | 66427 | 4455259 |
|  EPAM Systems, Inc.\* | 6815 | 1027634 |
|  Gartner, Inc.\* | 10306 | 2709138 |
|  GoDaddy, Inc., Class A\* | 18181 | 2487706 |
|  International Business Machines Corp. | 123968 | 34978811 |
|  VeriSign, Inc. | 11500 | 3215055 |
|  |  | 70757656 |
|  ***Semiconductors & Semiconductor Equipment (12.5%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 215970 | 34941786 |
|  Analog Devices, Inc. | 65844 | 16177871 |
|  Applied Materials, Inc. | 106797 | 21865618 |
|  Broadcom, Inc. | 625943 | 206504855 |
|  First Solar, Inc.\* | 14656 | 3232088 |
|  Intel Corp.\* | 588073 | 19729849 |
|  KLA Corp. | 17562 | 18942373 |
|  Lam Research Corp. | 168430 | 22552777 |
|  Microchip Technology, Inc. | 71389 | 4584601 |
|  Micron Technology, Inc. | 148934 | 24919637 |
|  Monolithic Power Systems, Inc. | 6367 | 5861715 |
|  NVIDIA Corp. | 3247179 | 605858658 |
|  NXP Semiconductors NV | 33032 | 7522377 |
|  ON Semiconductor Corp.\* | 55715 | 2747307 |
|  QUALCOMM, Inc. | 143531 | 23877817 |
|  Skyworks Solutions, Inc. | 20294 | 1562232 |
|  Teradyne, Inc. | 21076 | 2900901 |
|  Texas Instruments, Inc. | 120989 | 22229309 |
|  |  | 1046011771 |
|  ***Software (10.4%)*** |  |  |
|  Adobe, Inc.\* | 56453 | 19913796 |
|  AppLovin Corp., Class A\* | 36028 | 25887559 |
|  Autodesk, Inc.\* | 28438 | 9033899 |
|  Cadence Design Systems, Inc.\* | 36099 | 12680135 |
|  Crowdstrike Holdings, Inc., Class A\* | 33072 | 16217847 |
|  Datadog, Inc., Class A\* | 43006 | 6124054 |
|  Fair Isaac Corp.\* | 3175 | 4751483 |
|  Fortinet, Inc.\* | 86594 | 7280824 |
|  Gen Digital, Inc. | 75167 | 2133991 |
|  Intuit, Inc. | 37123 | 25351668 |
|  Microsoft Corp. | 989214 | 512363391 |
|  Oracle Corp. | 220544 | 62025795 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/500 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Palantir Technologies, Inc., Class A\* | 302661 | $55211420 |
|  Palo Alto Networks, Inc.\* | 89262 | 18175528 |
|  PTC, Inc.\* | 15521 | 3151073 |
|  Roper Technologies, Inc. | 14495 | 7228512 |
|  Salesforce, Inc. | 127226 | 30152562 |
|  ServiceNow, Inc.\* | 27642 | 25438380 |
|  Synopsys, Inc.\* | 24935 | 12302680 |
|  Tyler Technologies, Inc.\* | 5694 | 2978873 |
|  Workday, Inc., Class A\* | 28791 | 6930857 |
|  |  | 865334327 |
|  ***Technology Hardware, Storage & Peripherals (6.4%)*** |  |  |
|  Apple, Inc. | 1974975 | 502887884 |
|  Dell Technologies, Inc., Class C | 40236 | 5704258 |
|  Hewlett Packard Enterprise Co. | 178502 | 4384009 |
|  HP, Inc. | 128637 | 3502786 |
|  NetApp, Inc. | 26905 | 3187166 |
|  Seagate Technology Holdings plc | 28019 | 6614165 |
|  Super Micro Computer, Inc.(x)\* | 65514 | 3140741 |
|  Western Digital Corp. | 46678 | 5604161 |
|  |  | 535025170 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 2641495018 |
|  **Materials (1.6%)** |  |  |
|  ***Chemicals (1.0%)*** |  |  |
|  Air Products and Chemicals, Inc. | 29225 | 7970242 |
|  Albemarle Corp.(x) | 14809 | 1200714 |
|  CF Industries Holdings, Inc. | 22571 | 2024619 |
|  Corteva, Inc. | 89555 | 6056605 |
|  Dow, Inc. | 98564 | 2260072 |
|  DuPont de Nemours, Inc. | 56022 | 4364114 |
|  Eastman Chemical Co. | 15371 | 969141 |
|  Ecolab, Inc. | 34018 | 9316169 |
|  International Flavors & Fragrances, Inc. | 32804 | 2018758 |
|  Linde plc | 62403 | 29641425 |
|  LyondellBasell Industries NV, Class A | 34248 | 1679522 |
|  Mosaic Co. (The) | 43295 | 1501471 |
|  PPG Industries, Inc. | 30867 | 3244430 |
|  Sherwin-Williams Co. (The) | 31056 | 10753451 |
|  |  | 83000733 |
|  ***Construction Materials (0.1%)*** |  |  |
|  Martin Marietta Materials, Inc. | 7925 | 4994969 |
|  Vulcan Materials Co. | 17312 | 5325517 |
|  |  | 10320486 |
|  ***Containers & Packaging (0.2%)*** |  |  |
|  Amcor plc | 322013 | 2634067 |
|  Avery Dennison Corp. | 9984 | 1619105 |
|  Ball Corp. | 36634 | 1847086 |
|  International Paper Co. | 68932 | 3198445 |
|  Packaging Corp. of America | 11415 | 2487671 |
|  Smurfit WestRock plc | 70526 | 3002292 |
|  |  | 14788666 |
|  ***Metals & Mining (0.3%)*** |  |  |
|  Freeport-McMoRan, Inc. | 193624 | 7593933 |
|  Newmont Corp. | 146183 | 12324689 |
|  Nucor Corp. | 30157 | 4084163 |
|  Steel Dynamics, Inc. | 18722 | 2610408 |
|  |  | 26613193 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 134723078 |
|  **Real Estate (1.8%)** |  |  |
|  ***Health Care REITs (0.3%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) | 19520 | 1626797 |
|  Healthpeak Properties, Inc. (REIT) | 97703 | 1871012 |
|  Ventas, Inc. (REIT) | 59241 | 4146278 |
|  Welltower, Inc. (REIT) | 89008 | 15855885 |
|  |  | 23499972 |
|  ***Hotel & Resort REITs (0.0%)†*** |  |  |
|  Host Hotels & Resorts, Inc. (REIT) | 81990 | 1395470 |
|  ***Industrial REITs (0.2%)*** |  |  |
|  Prologis, Inc. (REIT) | 123111 | 14098671 |
|  ***Office REITs (0.0%)†*** |  |  |
|  BXP, Inc. (REIT) | 19917 | 1480630 |
|  ***Real Estate Management & Development (0.1%)*** |  |  |
|  CBRE Group, Inc., Class A\* | 38675 | 6093633 |
|  CoStar Group, Inc.\* | 55548 | 4686585 |
|  |  | 10780218 |
|  ***Residential REITs (0.2%)*** |  |  |
|  AvalonBay Communities, Inc. (REIT) | 18810 | 3633528 |
|  Camden Property Trust (REIT) | 15159 | 1618678 |
|  Equity Residential (REIT) | 44740 | 2896020 |
|  Essex Property Trust, Inc. (REIT) | 8688 | 2325430 |
|  Invitation Homes, Inc. (REIT) | 77240 | 2265449 |
|  Mid-America Apartment Communities, Inc. (REIT) | 16231 | 2267958 |
|  UDR, Inc. (REIT) | 40047 | 1492151 |
|  |  | 16499214 |
|  ***Retail REITs (0.3%)*** |  |  |
|  Federal Realty Investment Trust (REIT) | 9805 | 993344 |
|  Kimco Realty Corp. (REIT) | 86235 | 1884235 |
|  Realty Income Corp. (REIT) | 123151 | 7486349 |
|  Regency Centers Corp. (REIT) | 20993 | 1530390 |
|  Simon Property Group, Inc. (REIT) | 43449 | 8154074 |
|  |  | 20048392 |
|  ***Specialized REITs (0.7%)*** |  |  |
|  American Tower Corp. (REIT) | 61943 | 11912878 |
|  Crown Castle, Inc. (REIT) | 57105 | 5510061 |
|  Digital Realty Trust, Inc. (REIT) | 42597 | 7364169 |
|  Equinix, Inc. (REIT) | 13079 | 10243996 |
|  Extra Space Storage, Inc. (REIT) | 28631 | 4035253 |
|  Iron Mountain, Inc. (REIT) | 39158 | 3991767 |
|  Public Storage (REIT) | 20854 | 6023678 |
|  SBA Communications Corp. (REIT) | 14211 | 2747697 |
|  VICI Properties, Inc. (REIT), Class A | 140944 | 4596184 |
|  Weyerhaeuser Co. (REIT) | 100156 | 2482867 |
|  |  | 58908550 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 146711117 |
|  **Utilities (2.1%)** |  |  |
|  ***Electric Utilities (1.4%)*** |  |  |
|  Alliant Energy Corp. | 33924 | 2286817 |
|  American Electric Power Co., Inc. | 72019 | 8102137 |
|  Constellation Energy Corp. | 41496 | 13655089 |
|  Duke Energy Corp. | 102944 | 12739320 |
|  Edison International | 51615 | 2853277 |
|  Entergy Corp. | 58678 | 5468203 |
|  Evergy, Inc. | 31895 | 2424658 |
|  Eversource Energy | 49527 | 3523351 |
|  Exelon Corp. | 133954 | 6029269 |
|  FirstEnergy Corp. | 71426 | 3272739 |
|  NextEra Energy, Inc. | 274038 | 20687129 |
|  NRG Energy, Inc. | 25309 | 4098793 |
|  PG&E Corp. | 297347 | 4483993 |
|  Pinnacle West Capital Corp. | 16372 | 1467913 |
|  PPL Corp.(x) | 98604 | 3664125 |
|  Southern Co. (The) | 145731 | 13810927 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/500 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Xcel Energy, Inc. | 78677 | $6345300 |
|  |  | 114913040 |
|  ***Gas Utilities (0.0%)†*** |  |  |
|  Atmos Energy Corp. | 21391 | 3652513 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  AES Corp. (The) | 95557 | 1257530 |
|  Vistra Corp. | 42385 | 8304069 |
|  |  | 9561599 |
|  ***Multi-Utilities (0.6%)*** |  |  |
|  Ameren Corp. | 37196 | 3882519 |
|  CenterPoint Energy, Inc. | 85613 | 3321784 |
|  CMS Energy Corp. | 41211 | 3019118 |
|  Consolidated Edison, Inc. | 47270 | 4751580 |
|  Dominion Energy, Inc. | 112702 | 6893981 |
|  DTE Energy Co. | 27828 | 3935714 |
|  NiSource, Inc. | 60865 | 2635455 |
|  Public Service Enterprise Group, Inc. | 68015 | 5676532 |
|  Sempra | 86108 | 7747998 |
|  WEC Energy Group, Inc. | 42160 | 4831114 |
|  |  | 46695795 |
|  ***Water Utilities (0.0%)†*** |  |  |
|  American Water Works Co., Inc. | 26351 | 3667796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 178490743 |
|  **Total Common Stocks (91.0%)**<br> *(Cost $1,830,988,718)* |  | 7591889321 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (3.2%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 1331056 | 1331056 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 269898418 | 270006376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 271337432 |
|  **Total Short-Term Investments (3.2%)**<br> *(Cost $271,293,094)* |  | 271337432 |
|  **Total Investments in Securities (94.2%)**<br> *(Cost $2,102,281,812)* |  | 7863226753 |
|  **Other Assets Less Liabilities (5.8%)** |  | 482185643 |
|  **Net Assets (100%)** |  | $8345412396 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/500 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

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

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $8,773,706. This was collateralized by $7,666,805 of various U.S. Government Treasury Securities, ranging from 0.000% – 5.375%, maturing 10/23/25 – 2/15/55 and by cash of $1,331,056 which was subsequently invested in investment companies.* 

*Glossary:* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/500 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases<br>at<br>Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income**<br>**($)** | **Capital Gain**<br>**Distributions<br>($)** |
|  COMMON STOCKS: |  |  |  |  |  |  |  |  |  |
|  **Financials** |  |  |  |  |  |  |  |  |  |
|  **Capital Markets** |  |  |  |  |  |  |  |  |  |
|  BlackRock, Inc. | 19166 | 22740015 |  | (3092351) | 1849503 | 847897 | 22345064 | 324151 |  |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  S&P 500 E-Mini Index | 2248 | 12/2025 | USD | 757435500 | 9191159 |
|  |  |  |  |  | 9191159 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/500 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $768545697 | $— | $— | $768545697 |
|  Consumer Discretionary | 800030093 |  |  | 800030093 |
|  Consumer Staples | 372316720 |  |  | 372316720 |
|  Energy | 219001972 |  |  | 219001972 |
|  Financials | 1028230599 |  |  | 1028230599 |
|  Health Care | 673117081 |  |  | 673117081 |
|  Industrials | 629227203 |  |  | 629227203 |
|  Information Technology | 2641495018 |  |  | 2641495018 |
|  Materials | 134723078 |  |  | 134723078 |
|  Real Estate | 146711117 |  |  | 146711117 |
|  Utilities | 178490743 |  |  | 178490743 |
|  **Futures** | 9191159 |  |  | 9191159 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 271337432 |  |  | 271337432 |
|  **Total Assets** | $**7872417912** | $**—** | $**—** | $**7872417912** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**7872417912** | $**—** | $**—** | $**7872417912** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $5924514898 |
|  Aggregate gross unrealized depreciation | (131286222) |
|  Net unrealized appreciation | $5793228676 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $2079189236 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/400 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (1.3%)** |  |  |
|  ***Diversified Telecommunication Services (0.3%)*** |  |  |
|  Frontier Communications Parent, Inc.\* | 56240 | $2100564 |
|  Iridium Communications, Inc. | 25230 | 440516 |
|  |  | 2541080 |
|  ***Entertainment (0.2%)*** |  |  |
|  Warner Music Group Corp., Class A | 33965 | 1156848 |
|  ***Interactive Media & Services (0.1%)*** |  |  |
|  ZoomInfo Technologies, Inc., Class A\* | 62983 | 687144 |
|  ***Media (0.7%)*** |  |  |
|  EchoStar Corp., Class A\* | 30708 | 2344863 |
|  New York Times Co. (The), Class A | 36751 | 2109507 |
|  Nexstar Media Group, Inc., Class A(x) | 6735 | 1331779 |
|  |  | 5786149 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 10171221 |
|  **Consumer Discretionary (11.2%)** |  |  |
|  ***Automobile Components (0.8%)*** |  |  |
|  Autoliv, Inc. | 16119 | 1990696 |
|  Gentex Corp. | 49806 | 1409510 |
|  Goodyear Tire & Rubber Co. (The)\* | 66355 | 496335 |
|  Lear Corp. | 12124 | 1219796 |
|  Visteon Corp. | 6325 | 758115 |
|  |  | 5874452 |
|  ***Automobiles (0.3%)*** |  |  |
|  Harley-Davidson, Inc.(x) | 25327 | 706624 |
|  Thor Industries, Inc. | 12203 | 1265329 |
|  |  | 1971953 |
|  ***Broadline Retail (0.4%)*** |  |  |
|  Macy's, Inc. | 61925 | 1110315 |
|  Ollie's Bargain Outlet Holdings, Inc.\* | 14012 | 1799141 |
|  |  | 2909456 |
|  ***Diversified Consumer Services (1.2%)*** |  |  |
|  Duolingo, Inc., Class A\* | 9094 | 2926813 |
|  Graham Holdings Co., Class B | 780 | 918302 |
|  Grand Canyon Education, Inc.\* | 6483 | 1423148 |
|  H&R Block, Inc. | 30708 | 1552903 |
|  Service Corp. International | 32389 | 2695413 |
|  |  | 9516579 |
|  ***Hotels, Restaurants & Leisure (2.6%)*** |  |  |
|  Aramark | 60999 | 2342361 |
|  Boyd Gaming Corp. | 13821 | 1194825 |
|  Cava Group, Inc.(x)\* | 22649 | 1368226 |
|  Choice Hotels International, Inc.(x) | 4931 | 527173 |
|  Churchill Downs, Inc. | 15777 | 1530527 |
|  Hilton Grand Vacations, Inc.\* | 14489 | 605785 |
|  Hyatt Hotels Corp., Class A | 9660 | 1371044 |
|  Light & Wonder, Inc.(x)\* | 19336 | 1623064 |
|  Marriott Vacations Worldwide Corp. | 6406 | 426383 |
|  Planet Fitness, Inc., Class A\* | 19306 | 2003963 |
|  Texas Roadhouse, Inc., Class A | 15195 | 2524649 |
|  Travel + Leisure Co. | 15216 | 905200 |
|  Vail Resorts, Inc.(x) | 8575 | 1282563 |
|  Wingstop, Inc.(x) | 6435 | 1619561 |
|  Wyndham Hotels & Resorts, Inc. | 17523 | 1400088 |
|  |  | 20725412 |
|  ***Household Durables (1.7%)*** |  |  |
|  KB Home | 14838 | 944290 |
|  Somnigroup International, Inc. | 48326 | 4075331 |
|  Taylor Morrison Home Corp., Class A\* | 22797 | 1504830 |
|  Toll Brothers, Inc. | 22448 | 3100967 |
|  TopBuild Corp.\* | 6435 | 2515184 |
|  Whirlpool Corp.(x) | 12676 | 996334 |
|  |  | 13136936 |
|  ***Leisure Products (0.4%)*** |  |  |
|  Brunswick Corp. | 14845 | 938798 |
|  Mattel, Inc.\* | 74705 | 1257285 |
|  Polaris, Inc. | 12141 | 705756 |
|  YETI Holdings, Inc.\* | 18065 | 599397 |
|  |  | 3501236 |
|  ***Specialty Retail (3.3%)*** |  |  |
|  Abercrombie & Fitch Co., Class A\* | 11032 | 943788 |
|  AutoNation, Inc.\* | 6133 | 1341716 |
|  Bath & Body Works, Inc. | 48745 | 1255671 |
|  Burlington Stores, Inc.\* | 14268 | 3631206 |
|  Chewy, Inc., Class A\* | 51118 | 2067723 |
|  Dick's Sporting Goods, Inc. | 15103 | 3356189 |
|  Five Below, Inc.\* | 12578 | 1945817 |
|  Floor & Decor Holdings, Inc., Class A\* | 24513 | 1806608 |
|  GameStop Corp., Class A(x)\* | 94085 | 2566639 |
|  Gap, Inc. (The) | 51755 | 1107039 |
|  Lithia Motors, Inc., Class A | 5889 | 1860924 |
|  Murphy USA, Inc. | 4053 | 1573618 |
|  Penske Automotive Group, Inc. | 4374 | 760682 |
|  RH\* | 3490 | 709028 |
|  Valvoline, Inc.\* | 29383 | 1055144 |
|  |  | 25981792 |
|  ***Textiles, Apparel & Luxury Goods (0.5%)*** |  |  |
|  Capri Holdings Ltd.\* | 27171 | 541246 |
|  Columbia Sportswear Co.(x) | 5467 | 285924 |
|  Crocs, Inc.(x)\* | 12541 | 1047801 |
|  PVH Corp. | 10918 | 914601 |
|  Under Armour, Inc., Class A\* | 41484 | 207005 |
|  Under Armour, Inc., Class C(x)\* | 34464 | 166461 |
|  VF Corp.(x) | 75347 | 1087257 |
|  |  | 4250295 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 87868111 |
|  **Consumer Staples (4.3%)** |  |  |
|  ***Beverages (0.5%)*** |  |  |
|  Boston Beer Co., Inc. (The), Class A\* | 1753 | 370619 |
|  Celsius Holdings, Inc.\* | 36706 | 2110228 |
|  Coca-Cola Consolidated, Inc. | 13826 | 1619854 |
|  |  | 4100701 |
|  ***Consumer Staples Distribution & Retail (2.7%)*** |  |  |
|  Albertsons Cos., Inc., Class A | 93989 | 1645747 |
|  BJ's Wholesale Club Holdings, Inc.\* | 30377 | 2832655 |
|  Casey's General Stores, Inc. | 8486 | 4797306 |
|  Maplebear, Inc.\* | 41496 | 1525393 |
|  Performance Food Group Co.\* | 35617 | 3705593 |
|  Sprouts Farmers Market, Inc.\* | 22321 | 2428525 |
|  US Foods Holding Corp.\* | 51552 | 3949914 |
|  |  | 20885133 |
|  ***Food Products (0.7%)*** |  |  |
|  Darling Ingredients, Inc.\* | 36283 | 1120056 |
|  Flowers Foods, Inc. | 43182 | 563525 |
|  Ingredion, Inc. | 14720 | 1797459 |
|  Marzetti Co. (The) | 4402 | 760622 |
|  Pilgrim's Pride Corp. | 9590 | 390505 |
|  Post Holdings, Inc.\* | 10632 | 1142727 |
|  |  | 5774894 |
|  ***Personal Care Products (0.4%)*** |  |  |
|  BellRing Brands, Inc.\* | 29006 | 1054368 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/400 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Coty, Inc., Class A\* | 85119 | $343881 |
|  e.l.f. Beauty, Inc.\* | 13461 | 1783313 |
|  |  | 3181562 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 33942290 |
|  **Energy (3.6%)** |  |  |
|  ***Energy Equipment & Services (0.8%)*** |  |  |
|  NOV, Inc. | 88504 | 1172678 |
|  TechnipFMC plc | 93418 | 3685340 |
|  Valaris Ltd.(x)\* | 15241 | 743304 |
|  Weatherford International plc | 16300 | 1115409 |
|  |  | 6716731 |
|  ***Oil, Gas & Consumable Fuels (2.8%)*** |  |  |
|  Antero Midstream Corp. | 78166 | 1519547 |
|  Antero Resources Corp.\* | 67360 | 2260602 |
|  Chord Energy Corp. | 12797 | 1271638 |
|  Civitas Resources, Inc.(x) | 19063 | 619547 |
|  CNX Resources Corp.(x)\* | 32222 | 1034971 |
|  DT Midstream, Inc. | 23045 | 2605468 |
|  HF Sinclair Corp. | 36533 | 1912137 |
|  Matador Resources Co. | 26898 | 1208527 |
|  Murphy Oil Corp.(x) | 29605 | 841078 |
|  Ovintiv, Inc. | 59000 | 2382420 |
|  PBF Energy, Inc., Class A | 18863 | 569097 |
|  Permian Resources Corp. | 163362 | 2091033 |
|  Range Resources Corp. | 54588 | 2054692 |
|  Viper Energy, Inc., Class A | 38367 | 1466387 |
|  |  | 21837144 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 28553875 |
|  **Financials (15.2%)** |  |  |
|  ***Banks (6.0%)*** |  |  |
|  Associated Banc-Corp. | 36109 | 928362 |
|  Bank OZK | 24454 | 1246665 |
|  Cadence Bank | 43110 | 1618349 |
|  Columbia Banking System, Inc. | 69235 | 1782109 |
|  Comerica, Inc. | 29934 | 2051078 |
|  Commerce Bancshares, Inc. | 28239 | 1687563 |
|  Cullen/Frost Bankers, Inc. | 14809 | 1877337 |
|  East West Bancorp, Inc. | 32145 | 3421835 |
|  First Financial Bankshares, Inc. | 29267 | 984835 |
|  First Horizon Corp. | 120295 | 2719870 |
|  Flagstar Financial, Inc. | 69356 | 801062 |
|  FNB Corp. | 84891 | 1367594 |
|  Glacier Bancorp, Inc. | 26731 | 1300998 |
|  Hancock Whitney Corp. | 19655 | 1230599 |
|  Home BancShares, Inc. | 42907 | 1214268 |
|  International Bancshares Corp. | 12561 | 863569 |
|  Old National Bancorp | 78147 | 1715327 |
|  Pinnacle Financial Partners, Inc. | 17604 | 1651079 |
|  Prosperity Bancshares, Inc. | 21051 | 1396734 |
|  SOUTHSTATE BANK Corp. | 23000 | 2274010 |
|  Synovus Financial Corp. | 32056 | 1573308 |
|  Texas Capital Bancshares, Inc.\* | 10374 | 876914 |
|  UMB Financial Corp. | 16553 | 1959048 |
|  United Bankshares, Inc. | 31939 | 1188450 |
|  Valley National Bancorp | 114778 | 1216647 |
|  Webster Financial Corp. | 38546 | 2291174 |
|  Western Alliance Bancorp | 24101 | 2090039 |
|  Wintrust Financial Corp. | 15925 | 2109107 |
|  Zions Bancorp NA | 34068 | 1927567 |
|  |  | 47365497 |
|  ***Capital Markets (3.0%)*** |  |  |
|  Affiliated Managers Group, Inc. | 6581 | 1569108 |
|  Carlyle Group, Inc. (The) | 59799 | 3749397 |
|  Evercore, Inc., Class A | 8834 | 2979885 |
|  Federated Hermes, Inc., Class B | 19291 | 1001782 |
|  Hamilton Lane, Inc., Class A | 9936 | 1339273 |
|  Houlihan Lokey, Inc., Class A | 13464 | 2764429 |
|  Janus Henderson Group plc | 32023 | 1425344 |
|  Jefferies Financial Group, Inc. | 39070 | 2555959 |
|  Morningstar, Inc. | 5390 | 1250534 |
|  SEI Investments Co. | 22869 | 1940435 |
|  Stifel Financial Corp. | 25601 | 2904945 |
|  |  | 23481091 |
|  ***Consumer Finance (0.7%)*** |  |  |
|  Ally Financial, Inc. | 67442 | 2643727 |
|  FirstCash Holdings, Inc. | 9627 | 1525109 |
|  SLM Corp. | 53843 | 1490374 |
|  |  | 5659210 |
|  ***Financial Services (1.1%)*** |  |  |
|  Essent Group Ltd. | 22454 | 1427176 |
|  Euronet Worldwide, Inc.\* | 9221 | 809696 |
|  MGIC Investment Corp. | 52982 | 1503099 |
|  Shift4 Payments, Inc., Class A(x)\* | 15629 | 1209685 |
|  Voya Financial, Inc. | 23784 | 1779043 |
|  Western Union Co. (The) | 83634 | 668236 |
|  WEX, Inc.\* | 7918 | 1247323 |
|  |  | 8644258 |
|  ***Insurance (3.8%)*** |  |  |
|  American Financial Group, Inc. | 15904 | 2317531 |
|  Brighthouse Financial, Inc.\* | 13238 | 702673 |
|  CNO Financial Group, Inc. | 24093 | 952878 |
|  Fidelity National Financial, Inc. | 59445 | 3595828 |
|  First American Financial Corp. | 23232 | 1492424 |
|  Hanover Insurance Group, Inc. (The) | 8114 | 1473746 |
|  Kemper Corp. | 13867 | 714844 |
|  Kinsale Capital Group, Inc. | 5075 | 2158194 |
|  Old Republic International Corp. | 52452 | 2227636 |
|  Primerica, Inc. | 7784 | 2160761 |
|  Reinsurance Group of America, Inc. | 15237 | 2927485 |
|  RenaissanceRe Holdings Ltd. | 10984 | 2789167 |
|  RLI Corp. | 19097 | 1245506 |
|  Ryan Specialty Holdings, Inc., Class A(x) | 26032 | 1467163 |
|  Selective Insurance Group, Inc. | 13929 | 1129224 |
|  Unum Group | 36397 | 2830959 |
|  |  | 30186019 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.6%)*** |  |  |
|  Annaly Capital Management, Inc. (REIT) | 146304 | 2956804 |
|  Starwood Property Trust, Inc. (REIT)(x) | 82841 | 1604630 |
|  |  | 4561434 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 119897509 |
|  **Health Care (7.9%)** |  |  |
|  ***Biotechnology (2.2%)*** |  |  |
|  BioMarin Pharmaceutical, Inc.\* | 44014 | 2383798 |
|  Cytokinetics, Inc.\* | 27330 | 1502057 |
|  Exelixis, Inc.\* | 61617 | 2544782 |
|  Halozyme Therapeutics, Inc.\* | 26688 | 1957298 |
|  Neurocrine Biosciences, Inc.\* | 22534 | 3163323 |
|  Roivant Sciences Ltd.\* | 97301 | 1472164 |
|  United Therapeutics Corp.\* | 10293 | 4314929 |
|  |  | 17338351 |
|  ***Health Care Equipment & Supplies (1.1%)*** |  |  |
|  Dentsply Sirona, Inc. | 45617 | 578880 |
|  Envista Holdings Corp.\* | 39463 | 803861 |
|  Globus Medical, Inc., Class A\* | 25811 | 1478196 |
|  Haemonetics Corp.\* | 11040 | 538090 |
|  Lantheus Holdings, Inc.\* | 15633 | 801817 |
|  LivaNova plc\* | 12398 | 649407 |
|  Masimo Corp.(x)\* | 10650 | 1571407 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/400 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Penumbra, Inc.\* | 8887 | $2251255 |
|  |  | 8672913 |
|  ***Health Care Providers & Services (2.1%)*** |  |  |
|  Chemed Corp. | 3214 | 1439036 |
|  Encompass Health Corp. | 23028 | 2925017 |
|  Ensign Group, Inc. (The) | 13064 | 2257067 |
|  HealthEquity, Inc.\* | 20044 | 1899570 |
|  Hims & Hers Health, Inc.\* | 47267 | 2680984 |
|  Option Care Health, Inc.\* | 37156 | 1031451 |
|  Tenet Healthcare Corp.\* | 20355 | 4132879 |
|  |  | 16366004 |
|  ***Health Care Technology (0.3%)*** |  |  |
|  Doximity, Inc., Class A\* | 31166 | 2279793 |
|  ***Life Sciences Tools & Services (1.6%)*** |  |  |
|  Avantor, Inc.\* | 158133 | 1973500 |
|  Bio-Rad Laboratories, Inc., Class A\* | 4195 | 1176236 |
|  Bruker Corp. | 26204 | 851368 |
|  Illumina, Inc.\* | 35350 | 3357190 |
|  Medpace Holdings, Inc.\* | 5071 | 2607305 |
|  Repligen Corp.\* | 12225 | 1634116 |
|  Sotera Health Co.\* | 39736 | 625047 |
|  |  | 12224762 |
|  ***Pharmaceuticals (0.6%)*** |  |  |
|  Elanco Animal Health, Inc.(x)\* | 113795 | 2291831 |
|  Jazz Pharmaceuticals plc\* | 13791 | 1817654 |
|  Perrigo Co. plc(x) | 30872 | 687519 |
|  |  | 4797004 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 61678827 |
|  **Industrials (20.9%)** |  |  |
|  ***Aerospace & Defense (2.7%)*** |  |  |
|  AeroVironment, Inc.\* | 7283 | 2293344 |
|  ATI, Inc.\* | 31579 | 2568636 |
|  BWX Technologies, Inc. | 20960 | 3864395 |
|  Curtiss-Wright Corp. | 8668 | 4706204 |
|  Hexcel Corp. | 17734 | 1111922 |
|  Kratos Defense & Security Solutions, Inc.\* | 37873 | 3460456 |
|  Woodward, Inc. | 13791 | 3485123 |
|  |  | 21490080 |
|  ***Air Freight & Logistics (0.2%)*** |  |  |
|  GXO Logistics, Inc.\* | 26343 | 1393281 |
|  ***Building Products (1.9%)*** |  |  |
|  AAON, Inc.(x) | 15374 | 1436546 |
|  Advanced Drainage Systems, Inc. | 16338 | 2266081 |
|  Carlisle Cos., Inc. | 9783 | 3218216 |
|  Fortune Brands Innovations, Inc. | 27397 | 1462726 |
|  Owens Corning | 19226 | 2719710 |
|  Simpson Manufacturing Co., Inc. | 9442 | 1581157 |
|  Trex Co., Inc.(x)\* | 24208 | 1250827 |
|  UFP Industries, Inc. | 13588 | 1270342 |
|  |  | 15205605 |
|  ***Commercial Services & Supplies (1.5%)*** |  |  |
|  Brink's Co. (The) | 9626 | 1124894 |
|  Clean Harbors, Inc.\* | 11762 | 2731372 |
|  MSA Safety, Inc. | 8474 | 1458121 |
|  RB Global, Inc. | 42618 | 4618086 |
|  Tetra Tech, Inc. | 60410 | 2016486 |
|  |  | 11948959 |
|  ***Construction & Engineering (2.5%)*** |  |  |
|  AECOM | 30425 | 3969550 |
|  API Group Corp.\* | 86058 | 2957814 |
|  Comfort Systems USA, Inc. | 8056 | 6647650 |
|  Fluor Corp.\* | 37107 | 1561092 |
|  MasTec, Inc.\* | 14177 | 3017007 |
|  Valmont Industries, Inc. | 4554 | 1765722 |
|  |  | 19918835 |
|  ***Electrical Equipment (1.6%)*** |  |  |
|  Acuity, Inc. | 7010 | 2414174 |
|  EnerSys | 8444 | 953834 |
|  NEXTracker, Inc., Class A\* | 33569 | 2483770 |
|  nVent Electric plc | 36910 | 3640802 |
|  Regal Rexnord Corp. | 15286 | 2192624 |
|  Sensata Technologies Holding plc | 33374 | 1019576 |
|  |  | 12704780 |
|  ***Ground Transportation (1.3%)*** |  |  |
|  Avis Budget Group, Inc.(x)\* | 3967 | 637001 |
|  Knight-Swift Transportation Holdings, Inc., Class A | 36717 | 1450689 |
|  Landstar System, Inc. | 7363 | 902409 |
|  Ryder System, Inc. | 9516 | 1795098 |
|  Saia, Inc.\* | 6094 | 1824300 |
|  XPO, Inc.\* | 27017 | 3492488 |
|  |  | 10101985 |
|  ***Machinery (4.6%)*** |  |  |
|  AGCO Corp. | 14359 | 1537418 |
|  Chart Industries, Inc.\* | 10146 | 2030722 |
|  CNH Industrial NV | 210392 | 2282753 |
|  Crane Co. | 11282 | 2077467 |
|  Donaldson Co., Inc. | 25549 | 2091186 |
|  Esab Corp. | 13073 | 1460777 |
|  Flowserve Corp. | 29733 | 1580012 |
|  Graco, Inc. | 36385 | 3091270 |
|  ITT, Inc. | 17850 | 3190866 |
|  Lincoln Electric Holdings, Inc. | 12762 | 3009662 |
|  Middleby Corp. (The)\* | 10688 | 1420756 |
|  Mueller Industries, Inc. | 25097 | 2537558 |
|  Oshkosh Corp. | 14711 | 1908017 |
|  RBC Bearings, Inc.\* | 7265 | 2835457 |
|  Terex Corp. | 15296 | 784685 |
|  Timken Co. (The) | 14392 | 1081990 |
|  Toro Co. (The) | 22297 | 1699031 |
|  Watts Water Technologies, Inc., Class A | 6195 | 1730140 |
|  |  | 36349767 |
|  ***Marine Transportation (0.2%)*** |  |  |
|  Kirby Corp.\* | 13010 | 1085685 |
|  ***Passenger Airlines (0.4%)*** |  |  |
|  Alaska Air Group, Inc.\* | 26044 | 1296470 |
|  American Airlines Group, Inc.(x)\* | 154396 | 1735411 |
|  |  | 3031881 |
|  ***Professional Services (2.4%)*** |  |  |
|  CACI International, Inc., Class A\* | 5053 | 2520336 |
|  Concentrix Corp.(x) | 10346 | 477468 |
|  ExlService Holdings, Inc.\* | 36767 | 1618851 |
|  Exponent, Inc. | 10636 | 738989 |
|  FTI Consulting, Inc.\* | 7324 | 1183925 |
|  Genpact Ltd. | 37143 | 1555920 |
|  Insperity, Inc. | 8137 | 400341 |
|  KBR, Inc. | 29696 | 1404324 |
|  Maximus, Inc. | 12768 | 1166612 |
|  Parsons Corp.(x)\* | 11947 | 990645 |
|  Paylocity Holding Corp.\* | 10086 | 1606397 |
|  Science Applications International Corp. | 10925 | 1085617 |
|  TransUnion | 43049 | 3606645 |
|  |  | 18356070 |
|  ***Trading Companies & Distributors (1.6%)*** |  |  |
|  Applied Industrial Technologies, Inc. | 8837 | 2306899 |
|  Core & Main, Inc., Class A\* | 43778 | 2356570 |
|  GATX Corp. | 8214 | 1435807 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/400 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  MSC Industrial Direct Co., Inc., |  |  |
|  Class A | 9938 | $915687 |
|  Watsco, Inc. | 8002 | 3235209 |
|  WESCO International, Inc. | 10930 | 2311695 |
|  |  | 12561867 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 164148795 |
|  **Information Technology (12.1%)** |  |  |
|  ***Communications Equipment (0.9%)*** |  |  |
|  Ciena Corp.\* | 32368 | 4715047 |
|  Lumentum Holdings, Inc.\* | 16096 | 2618980 |
|  |  | 7334027 |
|  ***Electronic Equipment, Instruments & Components (3.2%)*** |  |  |
|  Arrow Electronics, Inc.\* | 11854 | 1434334 |
|  Avnet, Inc. | 19573 | 1023276 |
|  Belden, Inc. | 9122 | 1097103 |
|  Cognex Corp. | 38182 | 1729645 |
|  Coherent Corp.\* | 35854 | 3862193 |
|  Crane NXT Co. | 11385 | 763592 |
|  Fabrinet\* | 8192 | 2986967 |
|  Flex Ltd.\* | 86278 | 5001536 |
|  IPG Photonics Corp.\* | 5758 | 455976 |
|  Littelfuse, Inc. | 5755 | 1490603 |
|  Novanta, Inc.\* | 8207 | 821931 |
|  TD SYNNEX Corp. | 17523 | 2869391 |
|  Vontier Corp. | 34428 | 1444943 |
|  |  | 24981490 |
|  ***IT Services (1.2%)*** |  |  |
|  ASGN, Inc.\* | 10229 | 484343 |
|  Kyndryl Holdings, Inc.\* | 53272 | 1599758 |
|  Okta, Inc.\* | 38263 | 3508717 |
|  Twilio, Inc., Class A\* | 35141 | 3517263 |
|  |  | 9110081 |
|  ***Semiconductors & Semiconductor Equipment (2.5%)*** |  |  |
|  Allegro MicroSystems, Inc.\* | 28935 | 844902 |
|  Amkor Technology, Inc. | 26781 | 760580 |
|  Cirrus Logic, Inc.\* | 11666 | 1461633 |
|  Entegris, Inc. | 34704 | 3208732 |
|  Lattice Semiconductor Corp.\* | 31217 | 2288831 |
|  MACOM Technology Solutions Holdings, Inc.\* | 14229 | 1771368 |
|  MKS, Inc. | 15455 | 1912865 |
|  Onto Innovation, Inc.\* | 11129 | 1438089 |
|  Power Integrations, Inc. | 12413 | 499127 |
|  Rambus, Inc.\* | 24597 | 2563007 |
|  Silicon Laboratories, Inc.\* | 7453 | 977312 |
|  Synaptics, Inc.\* | 9094 | 621484 |
|  Universal Display Corp. | 10047 | 1443051 |
|  |  | 19790981 |
|  ***Software (3.6%)*** |  |  |
|  Appfolio, Inc., Class A\* | 5228 | 1441151 |
|  BILL Holdings, Inc.\* | 20907 | 1107444 |
|  Blackbaud, Inc.\* | 8680 | 558211 |
|  Commvault Systems, Inc.\* | 10313 | 1946888 |
|  Docusign, Inc.\* | 45968 | 3313833 |
|  Dolby Laboratories, Inc., Class A | 13487 | 976054 |
|  Dropbox, Inc., Class A\* | 42624 | 1287671 |
|  Dynatrace, Inc.\* | 69005 | 3343292 |
|  Guidewire Software, Inc.\* | 19228 | 4419748 |
|  Manhattan Associates, Inc.\* | 13784 | 2825444 |
|  Nutanix, Inc., Class A\* | 60379 | 4491594 |
|  Pegasystems, Inc.(x) | 20788 | 1195310 |
|  Qualys, Inc.\* | 8082 | 1069491 |
|  |  | 27976131 |
|  ***Technology Hardware, Storage & Peripherals (0.7%)*** |  |  |
|  Pure Storage, Inc., Class A\* | 70873 | 5939866 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 95132576 |
|  **Materials (4.9%)** |  |  |
|  ***Chemicals (1.3%)*** |  |  |
|  Ashland, Inc. | 9931 | 475794 |
|  Avient Corp. | 20844 | 686810 |
|  Axalta Coating Systems Ltd.\* | 50132 | 1434778 |
|  Cabot Corp. | 12093 | 919673 |
|  NewMarket Corp. | 1777 | 1471729 |
|  Olin Corp. | 26078 | 651689 |
|  RPM International, Inc. | 29512 | 3478874 |
|  Scotts Miracle-Gro Co. (The) | 10005 | 569785 |
|  Westlake Corp. | 7539 | 580955 |
|  |  | 10270087 |
|  ***Construction Materials (0.4%)*** |  |  |
|  Eagle Materials, Inc. | 7472 | 1741275 |
|  Knife River Corp.\* | 13261 | 1019373 |
|  |  | 2760648 |
|  ***Containers & Packaging (1.0%)*** |  |  |
|  AptarGroup, Inc. | 15102 | 2018534 |
|  Crown Holdings, Inc. | 26779 | 2586584 |
|  Graphic Packaging Holding Co. | 72146 | 1411897 |
|  Greif, Inc., Class A | 6129 | 366269 |
|  Silgan Holdings, Inc. | 19131 | 822824 |
|  Sonoco Products Co. | 22634 | 975299 |
|  |  | 8181407 |
|  ***Metals & Mining (2.0%)*** |  |  |
|  Alcoa Corp. | 59862 | 1968861 |
|  Carpenter Technology Corp. | 11442 | 2809469 |
|  Cleveland-Cliffs, Inc.\* | 113604 | 1385969 |
|  Commercial Metals Co. | 25355 | 1452334 |
|  MP Materials Corp.\* | 30712 | 2059854 |
|  Reliance, Inc. | 12013 | 3373611 |
|  Royal Gold, Inc. | 14937 | 2996063 |
|  |  | 16046161 |
|  ***Paper & Forest Products (0.2%)*** |  |  |
|  Louisiana-Pacific Corp. | 14039 | 1247225 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 38505528 |
|  **Real Estate (6.0%)** |  |  |
|  ***Diversified REITs (0.4%)*** |  |  |
|  WP Carey, Inc. (REIT) | 50449 | 3408839 |
|  ***Health Care REITs (0.7%)*** |  |  |
|  Healthcare Realty Trust, Inc. (REIT), Class A | 80442 | 1450369 |
|  Omega Healthcare Investors, Inc. (REIT) | 66949 | 2826587 |
|  Sabra Health Care REIT, Inc. (REIT) | 55860 | 1041230 |
|  |  | 5318186 |
|  ***Hotel & Resort REITs (0.1%)*** |  |  |
|  Park Hotels & Resorts, Inc. (REIT)(x) | 48851 | 541269 |
|  ***Industrial REITs (0.9%)*** |  |  |
|  EastGroup Properties, Inc. (REIT) | 12025 | 2035352 |
|  First Industrial Realty Trust, Inc. (REIT) | 29892 | 1538541 |
|  Rexford Industrial Realty, Inc. (REIT) | 53016 | 2179488 |
|  STAG Industrial, Inc. (REIT) | 42091 | 1485391 |
|  |  | 7238772 |
|  ***Office REITs (0.6%)*** |  |  |
|  COPT Defense Properties (REIT) | 24848 | 722083 |
|  Cousins Properties, Inc. (REIT) | 37730 | 1091906 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/400 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Kilroy Realty Corp. (REIT)(x) | 24490 | $1034702 |
|  Vornado Realty Trust (REIT) | 37518 | 1520605 |
|  |  | 4369296 |
|  ***Real Estate Management & Development (0.4%)*** |  |  |
|  Jones Lang LaSalle, Inc.\* | 10886 | 3247076 |
|  ***Residential REITs (0.8%)*** |  |  |
|  American Homes 4 Rent (REIT), Class A | 74962 | 2492487 |
|  Equity LifeStyle Properties, Inc. (REIT) | 44602 | 2707341 |
|  Independence Realty Trust, Inc. (REIT) | 52901 | 867047 |
|  |  | 6066875 |
|  ***Retail REITs (0.8%)*** |  |  |
|  Agree Realty Corp. (REIT) | 24579 | 1746092 |
|  Brixmor Property Group, Inc. (REIT) | 71772 | 1986649 |
|  Kite Realty Group Trust (REIT) | 49831 | 1111232 |
|  NNN REIT, Inc. (REIT) | 42844 | 1823869 |
|  |  | 6667842 |
|  ***Specialized REITs (1.3%)*** |  |  |
|  CubeSmart (REIT) | 52189 | 2122005 |
|  EPR Properties (REIT) | 17228 | 999396 |
|  Gaming and Leisure Properties, Inc. (REIT) | 64573 | 3009748 |
|  Lamar Advertising Co. (REIT), Class A | 20203 | 2473251 |
|  National Storage Affiliates Trust (REIT) | 15823 | 478171 |
|  PotlatchDeltic Corp. (REIT) | 16414 | 668871 |
|  Rayonier, Inc. (REIT) | 32443 | 861037 |
|  |  | 10612479 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 47470634 |
|  **Utilities (3.2%)** |  |  |
|  ***Electric Utilities (0.9%)*** |  |  |
|  ALLETE, Inc. | 12152 | 806893 |
|  IDACORP, Inc. | 12531 | 1655972 |
|  OGE Energy Corp. | 49946 | 2311001 |
|  Portland General Electric Co. | 25027 | 1101188 |
|  TXNM Energy, Inc. | 22026 | 1245570 |
|  |  | 7120624 |
|  ***Gas Utilities (1.1%)*** |  |  |
|  National Fuel Gas Co. | 21314 | 1968774 |
|  New Jersey Resources Corp. | 23649 | 1138699 |
|  ONE Gas, Inc. | 13306 | 1076988 |
|  Southwest Gas Holdings, Inc. | 14394 | 1127626 |
|  Spire, Inc. | 13855 | 1129460 |
|  UGI Corp. | 51086 | 1699120 |
|  |  | 8140667 |
|  ***Independent Power and Renewable Electricity Producers (0.7%)*** |  |  |
|  Ormat Technologies, Inc. | 13461 | 1295621 |
|  Talen Energy Corp.\* | 10500 | 4466490 |
|  |  | 5762111 |
|  ***Multi-Utilities (0.2%)*** |  |  |
|  Black Hills Corp. | 16328 | 1005642 |
|  Northwestern Energy Group, Inc. | 13802 | 808935 |
|  |  | 1814577 |
|  ***Water Utilities (0.3%)*** |  |  |
|  Essential Utilities, Inc. | 62019 | 2474558 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 25312537 |
|  **Total Common Stocks (90.6%)**<br> *(Cost $477,441,185)* |  | 712681903 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (4.5%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 2688773 | 2688773 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 32717925 | 32731013 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 35419786 |
|  **Total Short-Term Investments (4.5%)**<br> *(Cost $35,415,404)* |  | 35419786 |
|  **Total Investments in Securities (95.1%)**<br> *(Cost $512,856,589)* |  | 748101689 |
|  **Other Assets Less Liabilities (4.9%)** |  | 38734473 |
|  **Net Assets (100%)** |  | $786836162 |

---

*\** *Non-income producing.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $28,051,065. This was collateralized by $26,031,639 of various U.S. Government Treasury Securities, ranging from 0.000% – 5.375%, maturing 10/9/25 – 5/15/55 and by cash of $2,688,773 which was subsequently invested in investment companies.* 

*Glossary:* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/400 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional**<br>**Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  S&P Midcap 400 E-Mini Index | 228 | 12/2025 | USD | 74925360 | (913096) |
|  |  |  |  |  | (913096) |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $10171221 | $— | $— | $10171221 |
|  Consumer Discretionary | 87868111 |  |  | 87868111 |
|  Consumer Staples | 33942290 |  |  | 33942290 |
|  Energy | 28553875 |  |  | 28553875 |
|  Financials | 119897509 |  |  | 119897509 |
|  Health Care | 61678827 |  |  | 61678827 |
|  Industrials | 164148795 |  |  | 164148795 |
|  Information Technology | 95132576 |  |  | 95132576 |
|  Materials | 38505528 |  |  | 38505528 |
|  Real Estate | 47470634 |  |  | 47470634 |
|  Utilities | 25312537 |  |  | 25312537 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 35419786 |  |  | 35419786 |
|  **Total Assets** | $**748101689** | $**—** | $**—** | $**748101689** |
|  **Liabilities:** |  |  |  |  |
|  **Futures** | $(913096) | $— | $— | $(913096) |
|  **Total Liabilities** | $**(913096)** | $**—** | $**—** | $**(913096)** |
|  **Total** | $**747188593** | $**—** | $**—** | $**747188593** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $283424642 |
|  Aggregate gross unrealized depreciation | (44644931) |
|  Net unrealized appreciation | $238779711 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $508408882 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (2.6%)** |  |  |
|  ***Diversified Telecommunication Services (0.4%)*** |  |  |
|  Anterix, Inc.\* | 11883 | $255128 |
|  ATN International, Inc. | 12388 | 185448 |
|  Bandwidth, Inc., Class A\* | 31344 | 522504 |
|  Cogent Communications Holdings, Inc.(x) | 50690 | 1943962 |
|  Globalstar, Inc.(x)\* | 57953 | 2108910 |
|  IDT Corp., Class B | 18983 | 993001 |
|  Liberty Latin America Ltd., Class A\* | 38177 | 316487 |
|  Liberty Latin America Ltd., Class C\* | 142906 | 1206127 |
|  Lumen Technologies, Inc.\* | 1089055 | 6665017 |
|  Shenandoah Telecommunications Co. | 58714 | 787942 |
|  Uniti Group, Inc. | 161170 | 986360 |
|  |  | 15970886 |
|  ***Entertainment (0.5%)*** |  |  |
|  AMC Entertainment Holdings, Inc., Class A(x)\* | 507075 | 1470518 |
|  Atlanta Braves Holdings, Inc., Class A(x)\* | 9586 | 435875 |
|  Atlanta Braves Holdings, Inc., Class C\* | 50394 | 2095887 |
|  Cinemark Holdings, Inc. | 118702 | 3326030 |
|  CuriosityStream, Inc. | 36863 | 195374 |
|  Eventbrite, Inc., Class A\* | 91649 | 230955 |
|  Gaia, Inc., Class A\* | 16640 | 98509 |
|  Golden Matrix Group, Inc.(x)\* | 21703 | 24524 |
|  IMAX Corp.\* | 49230 | 1612282 |
|  Lionsgate Studios Corp.\* | 232042 | 1601090 |
|  Madison Square Garden Entertainment Corp., Class A\* | 44619 | 2018564 |
|  Marcus Corp. (The) | 27413 | 425176 |
|  Playstudios, Inc.\* | 101675 | 97872 |
|  Playtika Holding Corp. | 64785 | 252014 |
|  Reservoir Media, Inc.\* | 22437 | 182637 |
|  Sphere Entertainment Co.(x)\* | 31413 | 1951376 |
|  Starz Entertainment Corp. | 14880 | 219182 |
|  Vivid Seats, Inc., Class A\* | 3921 | 65167 |
|  |  | 16303032 |
|  ***Interactive Media & Services (0.6%)*** |  |  |
|  Angi, Inc., Class A\* | 45724 | 743472 |
|  Arena Group Holdings, Inc. (The)\* | 13908 | 76077 |
|  Bumble, Inc., Class A\* | 85680 | 521791 |
|  Cargurus, Inc., Class A\* | 93408 | 3477580 |
|  Cars.com, Inc.\* | 68322 | 834895 |
|  EverQuote, Inc., Class A\* | 31770 | 726580 |
|  fuboTV, Inc.(x)\* | 386594 | 1604365 |
|  Getty Images Holdings, Inc.(x)\* | 118834 | 235291 |
|  Grindr, Inc.\* | 39149 | 588018 |
|  MediaAlpha, Inc., Class A\* | 38585 | 439097 |
|  Nextdoor Holdings, Inc.\* | 239081 | 499679 |
|  QuinStreet, Inc.\* | 64125 | 992014 |
|  Rumble, Inc.(x)\* | 119935 | 868329 |
|  Shutterstock, Inc. | 28320 | 590472 |
|  Teads Holding Co.\* | 44896 | 74079 |
|  Travelzoo(x)\* | 6847 | 67306 |
|  TripAdvisor, Inc.\* | 131811 | 2143247 |
|  TrueCar, Inc.\* | 100496 | 184913 |
|  Vimeo, Inc.\* | 168779 | 1308037 |
|  Webtoon Entertainment, Inc.(x)\* | 20948 | 406601 |
|  Yelp, Inc., Class A\* | 69646 | 2172955 |
|  Ziff Davis, Inc.\* | 47073 | 1793481 |
|  ZipRecruiter, Inc., Class A\* | 77581 | 327392 |
|  |  | 20675671 |
|  ***Media (0.9%)*** |  |  |
|  Advantage Solutions, Inc.(x)\* | 120461 | 184305 |
|  Altice USA, Inc., Class A\* | 300164 | 723395 |
|  AMC Networks, Inc., Class A\* | 38583 | 317924 |
|  Boston Omaha Corp., Class A(x)\* | 26286 | 343821 |
|  Cable One, Inc.(x) | 6035 | 1068497 |
|  EchoStar Corp., Class A(x)\* | 154981 | 11834349 |
|  Emerald Holding, Inc.(x) | 19145 | 97448 |
|  Entravision Communications Corp., Class A | 73253 | 170680 |
|  EW Scripps Co. (The), Class A\* | 69908 | 171974 |
|  Gambling.com Group Ltd.(x)\* | 19934 | 163060 |
|  Gannett Co., Inc.(x)\* | 167530 | 691899 |
|  Gray Media, Inc. | 105127 | 607634 |
|  Ibotta, Inc., Class A(x)\* | 15258 | 424935 |
|  iHeartMedia, Inc., Class A\* | 135639 | 389284 |
|  Integral Ad Science Holding Corp.\* | 88955 | 904672 |
|  John Wiley & Sons, Inc., Class A | 46381 | 1877039 |
|  Magnite, Inc.\* | 159653 | 3477242 |
|  National CineMedia, Inc. | 75428 | 340180 |
|  Newsmax, Inc., Class B(x)\* | 13429 | 166520 |
|  Nexxen International Ltd.\* | 43541 | 402754 |
|  PubMatic, Inc., Class A\* | 48771 | 403824 |
|  Scholastic Corp. | 22807 | 624456 |
|  Sinclair, Inc.(x) | 45232 | 683003 |
|  Stagwell, Inc., Class A(x)\* | 133665 | 752534 |
|  TechTarget, Inc.\* | 30489 | 177141 |
|  TEGNA, Inc. | 183800 | 3736654 |
|  Thryv Holdings, Inc.\* | 43344 | 522729 |
|  WideOpenWest, Inc.\* | 60645 | 312928 |
|  |  | 31570881 |
|  ***Wireless Telecommunication Services (0.2%)*** |  |  |
|  Gogo, Inc.\* | 87046 | 747725 |
|  Spok Holdings, Inc. | 22809 | 393455 |
|  Telephone and Data Systems, Inc. | 113182 | 4441262 |
|  |  | 5582442 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 90102912 |
|  **Consumer Discretionary (9.1%)** |  |  |
|  ***Automobile Components (1.2%)*** |  |  |
|  Adient plc\* | 95674 | 2303830 |
|  American Axle & Manufacturing Holdings, Inc.\* | 134679 | 809421 |
|  Cooper-Standard Holdings, Inc.\* | 19275 | 711826 |
|  Dana, Inc. | 151139 | 3028826 |
|  Dorman Products, Inc.\* | 31619 | 4928770 |
|  Fox Factory Holding Corp.\* | 46870 | 1138472 |
|  Garrett Motion, Inc. | 153627 | 2092400 |
|  Gentherm, Inc.\* | 33971 | 1157052 |
|  Goodyear Tire & Rubber Co. (The)\* | 297315 | 2223916 |
|  Holley, Inc.\* | 54482 | 171074 |
|  LCI Industries | 28008 | 2608945 |
|  Luminar Technologies, Inc., Class A(x)\* | 45785 | 87449 |
|  Modine Manufacturing Co.\* | 59901 | 8515526 |
|  Motorcar Parts of America, Inc.\* | 15048 | 248894 |
|  Patrick Industries, Inc. | 37219 | 3849561 |
|  Phinia, Inc. | 44041 | 2531477 |
|  Solid Power, Inc.(x)\* | 178324 | 618784 |
|  Standard Motor Products, Inc. | 23409 | 955555 |
|  Strattec Security Corp.\* | 4369 | 297354 |
|  Visteon Corp. | 31768 | 3807713 |
|  XPEL, Inc.(m)\* | 28074 | 928407 |
|  |  | 43015252 |
|  ***Automobiles (0.0%)†*** |  |  |
|  Faraday Future Intelligent Electric, |  |  |
|  Inc., Class A(x)\* | 98239 | 127711 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Livewire Group, Inc.(x)\* | 40802 | $193809 |
|  Winnebago Industries, Inc. | 29588 | 989423 |
|  |  | 1310943 |
|  ***Broadline Retail (0.1%)*** |  |  |
|  Groupon, Inc.(x)\* | 29200 | 681820 |
|  Kohl's Corp.(x) | 126674 | 1946979 |
|  Savers Value Village, Inc.(x)\* | 42958 | 569194 |
|  |  | 3197993 |
|  ***Distributors (0.0%)†*** |  |  |
|  A-Mark Precious Metals, Inc. | 22386 | 579126 |
|  GigaCloud Technology, Inc., Class A(x)\* | 28208 | 801107 |
|  Weyco Group, Inc. | 6830 | 205515 |
|  |  | 1585748 |
|  ***Diversified Consumer Services (1.3%)*** |  |  |
|  Adtalem Global Education, Inc.\* | 40574 | 6266654 |
|  American Public Education, Inc.\* | 20343 | 802938 |
|  Carriage Services, Inc., Class A | 16557 | 737449 |
|  Coursera, Inc.\* | 160162 | 1875497 |
|  European Wax Center, Inc., Class A\* | 34493 | 137627 |
|  Frontdoor, Inc.\* | 84989 | 5718910 |
|  Graham Holdings Co., Class B | 3691 | 4345451 |
|  KinderCare Learning Cos., Inc.\* | 36501 | 242367 |
|  Laureate Education, Inc.\* | 147239 | 4643918 |
|  Lincoln Educational Services Corp.(x)\* | 34349 | 807201 |
|  Matthews International Corp., Class A | 35308 | 857278 |
|  McGraw Hill, Inc.\* | 23864 | 299493 |
|  Mister Car Wash, Inc.\* | 113244 | 603591 |
|  Nerdy, Inc.(x)\* | 72459 | 91298 |
|  OneSpaWorld Holdings Ltd. | 109183 | 2308129 |
|  Perdoceo Education Corp. | 70021 | 2636991 |
|  Strategic Education, Inc. | 26365 | 2267654 |
|  Stride, Inc.\* | 48834 | 7273336 |
|  Udemy, Inc.\* | 112866 | 791191 |
|  Universal Technical Institute, Inc.\* | 52634 | 1713237 |
|  Zspace, Inc.(x)\* | 2748 | 2692 |
|  |  | 44422902 |
|  ***Hotels, Restaurants & Leisure (1.7%)*** |  |  |
|  Accel Entertainment, Inc., Class A\* | 63093 | 698439 |
|  Bally's Corp.\* | 7366 | 81763 |
|  Biglari Holdings, Inc., Class B\* | 810 | 262156 |
|  BJ's Restaurants, Inc.\* | 22381 | 683292 |
|  Bloomin' Brands, Inc. | 97591 | 699727 |
|  Brightstar Lottery plc(x) | 127195 | 2194114 |
|  Brinker International, Inc.\* | 50604 | 6410515 |
|  Cheesecake Factory, Inc. (The)(x) | 52659 | 2877288 |
|  Cracker Barrel Old Country Store, Inc.(x) | 25757 | 1134853 |
|  Dave & Buster's Entertainment, Inc.(x)\* | 31796 | 577415 |
|  Denny's Corp.(x)\* | 57432 | 300369 |
|  Dine Brands Global, Inc.(x) | 17755 | 438904 |
|  El Pollo Loco Holdings, Inc.\* | 30018 | 291175 |
|  First Watch Restaurant Group, Inc.(x)\* | 51255 | 801628 |
|  Genius Sports Ltd.\* | 249284 | 3086136 |
|  Global Business Travel Group I(x)\* | 112603 | 909832 |
|  Golden Entertainment, Inc. | 22975 | 541750 |
|  Hilton Grand Vacations, Inc.\* | 66060 | 2761969 |
|  Inspired Entertainment, Inc.\* | 28720 | 269394 |
|  Jack in the Box, Inc.(x) | 22640 | 447593 |
|  Krispy Kreme, Inc.(x) | 89755 | 347352 |
|  Kura Sushi USA, Inc., Class A\* | 7356 | 437020 |
|  Life Time Group Holdings, Inc.\* | 155221 | 4284100 |
|  Lindblad Expeditions Holdings, Inc.\* | 42740 | 547072 |
|  Marriott Vacations Worldwide Corp. | 31610 | 2103962 |
|  Monarch Casino & Resort, Inc. | 14581 | 1543253 |
|  Nathan's Famous, Inc. | 3018 | 334213 |
|  Papa John's International, Inc.(x) | 36834 | 1773557 |
|  Portillo's, Inc., Class A(x)\* | 66385 | 428183 |
|  Potbelly Corp.\* | 30340 | 516994 |
|  Pursuit Attractions and Hospitality, Inc.\* | 24407 | 883045 |
|  RCI Hospitality Holdings, Inc. | 9441 | 288045 |
|  Red Rock Resorts, Inc., Class A | 55649 | 3397928 |
|  Rush Street Interactive, Inc.\* | 103188 | 2113290 |
|  Sabre Corp.(x)\* | 425078 | 777893 |
|  Serve Robotics, Inc.(x)\* | 54858 | 637999 |
|  Shake Shack, Inc., Class A\* | 44322 | 4148982 |
|  Six Flags Entertainment Corp.(x)\* | 108989 | 2476230 |
|  Super Group SGHC Ltd. | 180509 | 2382719 |
|  Sweetgreen, Inc., Class A(x)\* | 120756 | 963633 |
|  Target Hospitality Corp.\* | 40262 | 341422 |
|  United Parks & Resorts, Inc.(x)\* | 30649 | 1584553 |
|  Xponential Fitness, Inc., Class A\* | 32608 | 254016 |
|  |  | 58033773 |
|  ***Household Durables (1.7%)*** |  |  |
|  Bassett Furniture Industries, Inc. | 6743 | 105461 |
|  Beazer Homes USA, Inc.\* | 31178 | 765420 |
|  Cavco Industries, Inc.\* | 8730 | 5069773 |
|  Century Communities, Inc. | 29279 | 1855410 |
|  Champion Homes, Inc.\* | 65361 | 4991620 |
|  Cricut, Inc., Class A | 53239 | 334873 |
|  Dream Finders Homes, Inc., Class A(x)\* | 34906 | 904764 |
|  Ethan Allen Interiors, Inc. | 26348 | 776212 |
|  Flexsteel Industries, Inc. | 4414 | 204589 |
|  Green Brick Partners, Inc.\* | 35801 | 2644262 |
|  Hamilton Beach Brands Holding Co., Class A | 9577 | 137621 |
|  Helen of Troy Ltd.\* | 27502 | 693050 |
|  Hovnanian Enterprises, Inc., Class A\* | 5363 | 689092 |
|  Installed Building Products, Inc.(x) | 26778 | 6605061 |
|  KB Home | 75889 | 4829576 |
|  La-Z-Boy, Inc. | 46393 | 1592208 |
|  Legacy Housing Corp.\* | 10136 | 278841 |
|  Leggett & Platt, Inc. | 154507 | 1372022 |
|  LGI Homes, Inc.\* | 23056 | 1192226 |
|  Lovesac Co. (The)(x)\* | 16699 | 282714 |
|  M/I Homes, Inc.\* | 30058 | 4341577 |
|  Meritage Homes Corp. | 80492 | 5830036 |
|  Sonos, Inc.\* | 133203 | 2104607 |
|  Taylor Morrison Home Corp., Class A\* | 111576 | 7365132 |
|  Traeger, Inc.\* | 41969 | 51202 |
|  Tri Pointe Homes, Inc.\* | 98638 | 3350733 |
|  |  | 58368082 |
|  ***Leisure Products (0.4%)*** |  |  |
|  Acushnet Holdings Corp. | 31408 | 2465214 |
|  American Outdoor Brands, Inc.\* | 12595 | 109325 |
|  Clarus Corp. | 35111 | 122889 |
|  Escalade, Inc. | 11574 | 145485 |
|  Funko, Inc., Class A\* | 37937 | 130503 |
|  JAKKS Pacific, Inc. | 10651 | 199493 |
|  Johnson Outdoors, Inc., Class A | 5960 | 240724 |
|  Latham Group, Inc.\* | 53484 | 407013 |
|  Malibu Boats, Inc., Class A\* | 21993 | 713673 |
|  Marine Products Corp. | 10495 | 93091 |
|  MasterCraft Boat Holdings, Inc.(x)\* | 19325 | 414714 |
|  Outdoor Holding Co.(x)\* | 115508 | 170952 |
|  Peloton Interactive, Inc., Class A(x)\* | 429680 | 3867120 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Polaris, Inc.(x) | 60578 | $3521399 |
|  Smith & Wesson Brands, Inc.(x) | 52116 | 512300 |
|  Sturm Ruger & Co., Inc.(x) | 18284 | 794805 |
|  Topgolf Callaway Brands Corp.\* | 154191 | 1464815 |
|  |  | 15373515 |
|  ***Specialty Retail (2.1%)*** |  |  |
|  1-800-Flowers.com, Inc., Class A(x)\* | 29659 | 136431 |
|  Abercrombie & Fitch Co., Class A\* | 53765 | 4599596 |
|  Academy Sports & Outdoors, Inc.(x) | 75653 | 3784163 |
|  Advance Auto Parts, Inc.(x) | 68481 | 4204733 |
|  American Eagle Outfitters, Inc.(x) | 185437 | 3172827 |
|  America's Car-Mart, Inc.(x)\* | 8812 | 257399 |
|  Arhaus, Inc., Class A\* | 58755 | 624566 |
|  Arko Corp.(x) | 92329 | 421944 |
|  Asbury Automotive Group, Inc.\* | 22430 | 5483014 |
|  BARK, Inc.\* | 118757 | 98663 |
|  Barnes & Noble Education, Inc.(x)\* | 16981 | 168961 |
|  Bed Bath & Beyond, Inc.(x)\* | 64055 | 627098 |
|  Boot Barn Holdings, Inc.\* | 35135 | 5822572 |
|  Buckle, Inc. (The) | 35646 | 2090994 |
|  Build-A-Bear Workshop, Inc.(x) | 14466 | 943328 |
|  Caleres, Inc.(x) | 37948 | 494842 |
|  Camping World Holdings, Inc., Class A | 70150 | 1107669 |
|  Citi Trends, Inc.\* | 5818 | 180533 |
|  Designer Brands, Inc., Class A(x) | 39870 | 141140 |
|  EVgo, Inc., Class A\* | 149085 | 705172 |
|  Genesco, Inc.\* | 10683 | 309700 |
|  Group 1 Automotive, Inc. | 14420 | 6308894 |
|  Haverty Furniture Cos., Inc. | 13643 | 299191 |
|  J Jill, Inc. | 8620 | 147833 |
|  Lands' End, Inc.\* | 14133 | 199275 |
|  MarineMax, Inc.(x)\* | 22399 | 567367 |
|  Monro, Inc.(x) | 34527 | 620450 |
|  National Vision Holdings, Inc.\* | 87930 | 2566677 |
|  ODP Corp. (The)\* | 32432 | 903231 |
|  OneWater Marine, Inc., Class A(x)\* | 14394 | 228001 |
|  Petco Health & Wellness Co., Inc., Class A(x)\* | 89559 | 346593 |
|  RealReal, Inc. (The)(x)\* | 112180 | 1192473 |
|  Revolve Group, Inc., Class A\* | 47221 | 1005807 |
|  Sally Beauty Holdings, Inc.(x)\* | 114706 | 1867414 |
|  Shoe Carnival, Inc.(x) | 20847 | 433409 |
|  Signet Jewelers Ltd.(x) | 45720 | 4385462 |
|  Sleep Number Corp.(x)\* | 18570 | 130361 |
|  Sonic Automotive, Inc., Class A | 17186 | 1307683 |
|  Stitch Fix, Inc., Class A\* | 125393 | 545460 |
|  ThredUp, Inc., Class A\* | 106171 | 1003316 |
|  Tile Shop Holdings, Inc.(x)\* | 31637 | 191404 |
|  Torrid Holdings, Inc.(x)\* | 27206 | 47611 |
|  Upbound Group, Inc. | 58745 | 1388144 |
|  Urban Outfitters, Inc.\* | 69886 | 4991957 |
|  Victoria's Secret & Co.\* | 80043 | 2172367 |
|  Warby Parker, Inc., Class A\* | 112152 | 3093152 |
|  Winmark Corp. | 3439 | 1711831 |
|  Zumiez, Inc.\* | 15590 | 305720 |
|  |  | 73336428 |
|  ***Textiles, Apparel & Luxury Goods (0.6%)*** |  |  |
|  Capri Holdings Ltd.\* | 131819 | 2625834 |
|  Carter's, Inc.(x) | 41278 | 1164865 |
|  Ermenegildo Zegna NV(x) | 70433 | 665592 |
|  Figs, Inc., Class A\* | 104396 | 698409 |
|  G-III Apparel Group Ltd.\* | 45480 | 1210223 |
|  Hanesbrands, Inc.\* | 399991 | 2635941 |
|  Kontoor Brands, Inc. | 62874 | 5015459 |
|  Lakeland Industries, Inc.(x) | 9964 | 147467 |
|  Movado Group, Inc. | 17050 | 323439 |
|  Oxford Industries, Inc. | 16536 | 670369 |
|  Rocky Brands, Inc. | 8767 | 261169 |
|  Steven Madden Ltd. | 81216 | 2719112 |
|  Superior Group of Cos., Inc. | 15438 | 165495 |
|  Wolverine World Wide, Inc. | 91927 | 2522477 |
|  |  | 20825851 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 319470487 |
|  **Consumer Staples (1.8%)** |  |  |
|  ***Beverages (0.1%)*** |  |  |
|  MGP Ingredients, Inc. | 16125 | 390064 |
|  National Beverage Corp.\* | 27657 | 1021097 |
|  Vita Coco Co., Inc. (The)\* | 50124 | 2128766 |
|  Zevia PBC, Class A\* | 35321 | 96073 |
|  |  | 3636000 |
|  ***Consumer Staples Distribution & Retail (0.4%)*** |  |  |
|  Andersons, Inc. (The) | 38003 | 1512899 |
|  Chefs' Warehouse, Inc. (The)\* | 41488 | 2419995 |
|  Grocery Outlet Holding Corp.(x)\* | 109812 | 1762483 |
|  Guardian Pharmacy Services, Inc., Class A\* | 21773 | 571106 |
|  HF Foods Group, Inc.\* | 48544 | 133981 |
|  Ingles Markets, Inc., Class A | 17124 | 1191145 |
|  Natural Grocers by Vitamin Cottage, Inc. | 14921 | 596840 |
|  PriceSmart, Inc. | 29268 | 3546989 |
|  United Natural Foods, Inc.\* | 67717 | 2547514 |
|  Village Super Market, Inc., Class A | 10042 | 375169 |
|  Weis Markets, Inc. | 18515 | 1330673 |
|  |  | 15988794 |
|  ***Food Products (0.7%)*** |  |  |
|  Alico, Inc. | 6648 | 230420 |
|  B&G Foods, Inc.(x) | 89935 | 398412 |
|  Beyond Meat, Inc.(x)\* | 84718 | 160117 |
|  BRC, Inc., Class A(x)\* | 103012 | 160699 |
|  Calavo Growers, Inc. | 19918 | 512689 |
|  Cal-Maine Foods, Inc. | 52633 | 4952765 |
|  Dole plc | 79485 | 1068278 |
|  Forafric Global plc(x)\* | 6009 | 52218 |
|  Fresh Del Monte Produce, Inc. | 37549 | 1303701 |
|  Hain Celestial Group, Inc. (The)(x)\* | 104552 | 165192 |
|  J & J Snack Foods Corp. | 17381 | 1670140 |
|  John B Sanfilippo & Son, Inc. | 9122 | 586362 |
|  Lifeway Foods, Inc.\* | 6509 | 180690 |
|  Limoneira Co. | 19119 | 283917 |
|  Mama's Creations, Inc.\* | 38542 | 405077 |
|  Marzetti Co. (The) | 22971 | 3969159 |
|  Mission Produce, Inc.\* | 48528 | 583307 |
|  Seneca Foods Corp., Class A\* | 5489 | 592483 |
|  Simply Good Foods Co. (The)\* | 106658 | 2647252 |
|  SunOpta, Inc.\* | 111633 | 654169 |
|  Tootsie Roll Industries, Inc. | 20597 | 863426 |
|  TreeHouse Foods, Inc.\* | 58451 | 1181295 |
|  Utz Brands, Inc. | 83396 | 1013261 |
|  Vital Farms, Inc.\* | 40178 | 1653325 |
|  Westrock Coffee Co.(x)\* | 43585 | 211823 |
|  |  | 25500177 |
|  ***Household Products (0.3%)*** |  |  |
|  Central Garden & Pet Co.\* | 10842 | 353991 |
|  Central Garden & Pet Co., Class A\* | 56707 | 1674558 |
|  Energizer Holdings, Inc. | 75430 | 1877453 |
|  Oil-Dri Corp. of America | 11748 | 717098 |
|  Spectrum Brands Holdings, Inc. | 26525 | 1393358 |
|  WD-40 Co. | 15478 | 3058453 |
|  |  | 9074911 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  ***Personal Care Products (0.2%)*** |  |  |
|  Beauty Health Co. (The)\* | 129061 | $256831 |
|  Edgewell Personal Care Co. | 50769 | 1033657 |
|  FitLife Brands, Inc.\* | 2580 | 51316 |
|  Herbalife Ltd.(x)\* | 117490 | 991616 |
|  Honest Co., Inc. (The)\* | 108836 | 400516 |
|  Interparfums, Inc. | 20831 | 2049354 |
|  Lifevantage Corp. | 11931 | 116089 |
|  Medifast, Inc.(x)\* | 13678 | 186978 |
|  Nature's Sunshine Products, Inc.\* | 17120 | 265702 |
|  Nu Skin Enterprises, Inc., Class A | 57083 | 695842 |
|  Olaplex Holdings, Inc.(x)\* | 164306 | 215241 |
|  USANA Health Sciences, Inc.\* | 12922 | 356001 |
|  Waldencast plc, Class A(x)\* | 43957 | 87035 |
|  |  | 6706178 |
|  ***Tobacco (0.1%)*** |  |  |
|  Ispire Technology, Inc.(x)\* | 24528 | 62792 |
|  Turning Point Brands, Inc. | 19331 | 1911063 |
|  Universal Corp. | 27307 | 1525642 |
|  |  | 3499497 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 64405557 |
|  **Energy (4.4%)** |  |  |
|  ***Energy Equipment & Services (1.5%)*** |  |  |
|  Archrock, Inc. | 189909 | 4996506 |
|  Aris Water Solutions, Inc., Class A | 36028 | 888450 |
|  Atlas Energy Solutions, Inc.(x) | 90209 | 1025676 |
|  Borr Drilling Ltd.(x) | 283993 | 763941 |
|  Bristow Group, Inc., Class A\* | 33032 | 1191795 |
|  Cactus, Inc., Class A | 78081 | 3081857 |
|  Core Laboratories, Inc. | 56056 | 692852 |
|  DMC Global, Inc.\* | 23670 | 200011 |
|  Energy Services of America Corp. | 13191 | 136527 |
|  Expro Group Holdings NV\* | 119528 | 1419993 |
|  Flowco Holdings, Inc., Class A | 21469 | 318815 |
|  Forum Energy Technologies, Inc.\* | 12619 | 337053 |
|  Helix Energy Solutions Group, Inc.\* | 156901 | 1029271 |
|  Helmerich & Payne, Inc.(x) | 109858 | 2426763 |
|  Innovex International, Inc.\* | 44688 | 828516 |
|  Kodiak Gas Services, Inc.(x) | 76726 | 2836560 |
|  Liberty Energy, Inc., Class A | 178449 | 2202061 |
|  Mammoth Energy Services, Inc.\* | 24737 | 56648 |
|  Nabors Industries Ltd.(x)\* | 16244 | 663892 |
|  National Energy Services Reunited Corp.(x)\* | 67596 | 693535 |
|  Natural Gas Services Group, Inc. | 12309 | 344529 |
|  Noble Corp. plc(x) | 144600 | 4089288 |
|  Oceaneering International, Inc.\* | 108168 | 2680403 |
|  Oil States International, Inc.\* | 67058 | 406371 |
|  Patterson-UTI Energy, Inc. | 395736 | 2049912 |
|  ProFrac Holding Corp., Class A\* | 14923 | 55215 |
|  ProPetro Holding Corp.\* | 94865 | 497093 |
|  Ranger Energy Services, Inc., Class A | 20230 | 284029 |
|  RPC, Inc.(x) | 104247 | 496216 |
|  SEACOR Marine Holdings, Inc.(x)\* | 23985 | 155663 |
|  Seadrill Ltd.\* | 71627 | 2163852 |
|  Select Water Solutions, Inc., Class A | 107693 | 1151238 |
|  Solaris Energy Infrastructure, Inc., Class A | 42481 | 1697966 |
|  TETRA Technologies, Inc.\* | 144098 | 828563 |
|  Tidewater, Inc.\* | 56274 | 3001092 |
|  Transocean Ltd.(x)\* | 965504 | 3012372 |
|  Valaris Ltd.(x)\* | 73093 | 3564746 |
|  |  | 52269270 |
|  ***Oil, Gas & Consumable Fuels (2.9%)*** |  |  |
|  Ardmore Shipping Corp. | 40848 | 484866 |
|  Berry Corp. | 86841 | 328259 |
|  BKV Corp.\* | 19514 | 451359 |
|  California Resources Corp. | 77545 | 4123843 |
|  Calumet, Inc.(x)\* | 79961 | 1459288 |
|  Centrus Energy Corp., Class A(x)\* | 17964 | 5570097 |
|  Clean Energy Fuels Corp.\* | 209716 | 541067 |
|  CNX Resources Corp.(x)\* | 156317 | 5020902 |
|  Comstock Resources, Inc.(x)\* | 86725 | 1719757 |
|  Core Natural Resources, Inc.(x) | 59622 | 4977245 |
|  Crescent Energy Co., Class A | 208355 | 1858527 |
|  CVR Energy, Inc.\* | 36516 | 1332104 |
|  Delek US Holdings, Inc. | 68031 | 2195360 |
|  DHT Holdings, Inc. | 143945 | 1720143 |
|  Diversified Energy Co. plc(m) | 63774 | 893474 |
|  Dorian LPG Ltd. | 43232 | 1288314 |
|  Empire Petroleum Corp.(x)\* | 15080 | 68162 |
|  Encore Energy Corp.(x)\* | 216402 | 694650 |
|  Energy Fuels, Inc.(x)\* | 246572 | 3784880 |
|  Epsilon Energy Ltd. | 18249 | 91975 |
|  Evolution Petroleum Corp.(x) | 35253 | 169919 |
|  Excelerate Energy, Inc., Class A | 27100 | 682649 |
|  FLEX LNG Ltd. | 35912 | 904982 |
|  FutureFuel Corp. | 29530 | 114576 |
|  Gevo, Inc.(x)\* | 262494 | 514488 |
|  Golar LNG Ltd. | 113843 | 4600396 |
|  Granite Ridge Resources, Inc.(x) | 61021 | 330124 |
|  Green Plains, Inc.\* | 74302 | 653115 |
|  Gulfport Energy Corp.\* | 18104 | 3276462 |
|  HighPeak Energy, Inc.(x) | 20789 | 146978 |
|  Infinity Natural Resources, Inc., Class A(x)\* | 16711 | 219081 |
|  International Seaways, Inc.(x) | 45720 | 2106778 |
|  Kinetik Holdings, Inc., Class A(x) | 49679 | 2123280 |
|  Kolibri Global Energy, Inc.(x)\* | 39720 | 220446 |
|  Kosmos Energy Ltd.(x)\* | 542428 | 900430 |
|  Lightbridge Corp.(x)\* | 21697 | 460193 |
|  Magnolia Oil & Gas Corp., Class A | 213573 | 5097987 |
|  Murphy Oil Corp. | 154059 | 4376816 |
|  NACCO Industries, Inc., Class A | 4787 | 201820 |
|  Navigator Holdings Ltd. | 36130 | 559654 |
|  New Fortress Energy, Inc.(x)\* | 196599 | 434484 |
|  NextDecade Corp.\* | 155575 | 1056354 |
|  NextNRG, Inc.(x)\* | 13981 | 25585 |
|  Nordic American Tankers Ltd.(x) | 234842 | 737404 |
|  Northern Oil & Gas, Inc.(x) | 108839 | 2699207 |
|  OPAL Fuels, Inc., Class A\* | 20449 | 44988 |
|  Par Pacific Holdings, Inc.\* | 57912 | 2051243 |
|  PBF Energy, Inc., Class A | 95479 | 2880601 |
|  Peabody Energy Corp. | 139045 | 3687473 |
|  Prairie Operating Co.(x)\* | 23685 | 47015 |
|  PrimeEnergy Resources Corp.(x)\* | 269 | 44931 |
|  REX American Resources Corp.\* | 34622 | 1060126 |
|  Riley Exploration Permian, Inc.(x) | 15139 | 410418 |
|  Sable Offshore Corp.\* | 86647 | 1512857 |
|  SandRidge Energy, Inc. | 41556 | 468752 |
|  Scorpio Tankers, Inc. | 50818 | 2848349 |
|  SFL Corp. Ltd.(x) | 142002 | 1069275 |
|  SM Energy Co. | 129800 | 3241106 |
|  Summit Midstream Corp.\* | 10745 | 220702 |
|  Talos Energy, Inc.\* | 136159 | 1305765 |
|  Teekay Corp. Ltd. | 61746 | 505082 |
|  Teekay Tankers Ltd., Class A | 27932 | 1411963 |
|  Uranium Energy Corp.\* | 486337 | 6487736 |
|  VAALCO Energy, Inc. | 120754 | 485431 |
|  Verde Clean Fuels, Inc.\* | 4626 | 14109 |
|  Vital Energy, Inc.\* | 35293 | 596099 |
|  Vitesse Energy, Inc.(x) | 33798 | 785128 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  W&T Offshore, Inc.(x) | 110919 | $201873 |
|  World Kinect Corp. | 62409 | 1619514 |
|  XCF Global, Inc., Class A\* | 49953 | 65438 |
|  |  | 104283454 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 156552724 |
|  **Financials (16.5%)** |  |  |
|  ***Banks (9.2%)*** |  |  |
|  1st Source Corp. | 21401 | 1317446 |
|  ACNB Corp. | 11670 | 513947 |
|  Amalgamated Financial Corp. | 27349 | 742525 |
|  Amerant Bancorp, Inc., Class A | 41237 | 794637 |
|  Ameris Bancorp | 76260 | 5590621 |
|  Ames National Corp.(x) | 11527 | 233076 |
|  Arrow Financial Corp. | 19381 | 548482 |
|  Associated Banc-Corp. | 189998 | 4884849 |
|  Atlantic Union Bankshares Corp. | 162814 | 5745706 |
|  Axos Financial, Inc.\* | 62191 | 5264468 |
|  Banc of California, Inc. | 145958 | 2415605 |
|  BancFirst Corp. | 24486 | 3096255 |
|  Bancorp, Inc. (The)\* | 52255 | 3913377 |
|  Bank First Corp.(x) | 10554 | 1280306 |
|  Bank of Hawaii Corp. | 44753 | 2937587 |
|  Bank of Marin Bancorp | 18276 | 443741 |
|  Bank of NT Butterfield & Son Ltd. (The) | 48179 | 2067843 |
|  Bank7 Corp. | 5328 | 246527 |
|  BankFinancial Corp. | 7555 | 90887 |
|  BankUnited, Inc. | 86822 | 3313128 |
|  Bankwell Financial Group, Inc. | 7468 | 330459 |
|  Banner Corp. | 38985 | 2553517 |
|  Bar Harbor Bankshares | 17637 | 537223 |
|  BayCom Corp. | 12351 | 355091 |
|  BCB Bancorp, Inc. | 18122 | 157299 |
|  Beacon Financial Corp. | 92245 | 2187129 |
|  Blue Foundry Bancorp\* | 22764 | 206925 |
|  Blue Ridge Bankshares, Inc.\* | 67345 | 284869 |
|  Bridgewater Bancshares, Inc.\* | 23322 | 410467 |
|  Burke & Herbert Financial Services Corp. | 15859 | 978342 |
|  Business First Bancshares, Inc. | 32693 | 771882 |
|  BV Financial, Inc.(x)\* | 8686 | 140018 |
|  Byline Bancorp, Inc. | 35112 | 973656 |
|  C&F Financial Corp. | 3251 | 218467 |
|  Cadence Bank | 203568 | 7641943 |
|  California Bancorp\* | 28206 | 470476 |
|  Camden National Corp. | 18620 | 718546 |
|  Capital Bancorp, Inc. | 13624 | 434606 |
|  Capital City Bank Group, Inc. | 16267 | 679798 |
|  Capitol Federal Financial, Inc. | 135356 | 859511 |
|  Carter Bankshares, Inc.\* | 27896 | 541461 |
|  Cathay General Bancorp | 77161 | 3704500 |
|  CB Financial Services, Inc. | 4569 | 151736 |
|  Central Pacific Financial Corp. | 30267 | 918301 |
|  CF Bankshares, Inc. | 3592 | 86028 |
|  Chain Bridge Bancorp, Inc., Class A\* | 2125 | 69551 |
|  Chemung Financial Corp. | 3855 | 202465 |
|  ChoiceOne Financial Services, Inc.(x) | 16256 | 470774 |
|  Citizens & Northern Corp. | 18456 | 365613 |
|  Citizens Community Bancorp, Inc. | 8082 | 129878 |
|  Citizens Financial Services, Inc. | 5507 | 331962 |
|  City Holding Co. | 16336 | 2023540 |
|  Civista Bancshares, Inc. | 21162 | 429800 |
|  CNB Financial Corp.(x) | 32881 | 795720 |
|  Coastal Financial Corp.\* | 15100 | 1633367 |
|  CoastalSouth Bancshares, Inc.\* | 3174 | 69225 |
|  Colony Bankcorp, Inc. | 19211 | 326779 |
|  Columbia Financial, Inc.\* | 31471 | 472380 |
|  Community Financial System, Inc. | 60446 | 3544553 |
|  Community Trust Bancorp, Inc. | 18812 | 1052531 |
|  Community West Bancshares | 19609 | 408652 |
|  ConnectOne Bancorp, Inc. | 53795 | 1334654 |
|  Customers Bancorp, Inc.\* | 33521 | 2191268 |
|  CVB Financial Corp. | 150527 | 2846466 |
|  Dime Community Bancshares, Inc. | 44858 | 1338114 |
|  Eagle Bancorp Montana, Inc. | 7144 | 123377 |
|  Eagle Bancorp, Inc. | 31072 | 628276 |
|  Eagle Financial Services, Inc. | 3963 | 149920 |
|  Eastern Bankshares, Inc.(x) | 224079 | 4067034 |
|  ECB Bancorp, Inc.\* | 6280 | 99664 |
|  Enterprise Financial Services Corp. | 42336 | 2454641 |
|  Equity Bancshares, Inc., Class A | 16365 | 666055 |
|  Esquire Financial Holdings, Inc. | 8644 | 882163 |
|  Farmers & Merchants Bancorp, Inc. | 14808 | 370348 |
|  Farmers National Banc Corp. | 42971 | 619212 |
|  FB Bancorp, Inc.(x)\* | 20253 | 243441 |
|  FB Financial Corp. | 47775 | 2662978 |
|  Fidelity D&D Bancorp, Inc. | 6036 | 264558 |
|  Financial Institutions, Inc. | 21079 | 573349 |
|  Finward Bancorp | 2882 | 92483 |
|  Finwise Bancorp(x)\* | 8791 | 170457 |
|  First Bancorp (Nasdaq Stock Exchange) | 46614 | 2465414 |
|  First Bancorp (New York Stock Exchange) | 186553 | 4113494 |
|  First Bancorp, Inc. (The) | 12867 | 337887 |
|  First Bank | 24516 | 399366 |
|  First Busey Corp. | 97480 | 2256662 |
|  First Business Financial Services, Inc. | 9159 | 469490 |
|  First Capital, Inc.(x) | 3233 | 148071 |
|  First Commonwealth Financial Corp. | 120550 | 2055377 |
|  First Community Bankshares, Inc. | 17530 | 610044 |
|  First Community Corp. | 6892 | 194492 |
|  First Financial Bancorp | 111185 | 2807421 |
|  First Financial Bankshares, Inc. | 153578 | 5167900 |
|  First Financial Corp. | 13322 | 751894 |
|  First Foundation, Inc.\* | 74143 | 412976 |
|  First Internet Bancorp | 10086 | 226229 |
|  First Interstate BancSystem, Inc., Class A | 101609 | 3238279 |
|  First Merchants Corp. | 66727 | 2515608 |
|  First Mid Bancshares, Inc. | 24905 | 943401 |
|  First National Corp.(x) | 7740 | 175543 |
|  First Savings Financial Group, Inc. | 5432 | 170728 |
|  First United Corp.(x) | 6163 | 226613 |
|  First Western Financial, Inc.\* | 9057 | 208537 |
|  Firstsun Capital Bancorp(x)\* | 13926 | 540190 |
|  Five Star Bancorp | 19687 | 633921 |
|  Flagstar Financial, Inc. | 346577 | 4002964 |
|  Flushing Financial Corp. | 38351 | 529627 |
|  Franklin Financial Services Corp.(x) | 4331 | 199226 |
|  FS Bancorp, Inc. | 7746 | 309220 |
|  Fulton Financial Corp. | 209233 | 3898011 |
|  FVCBankcorp, Inc. | 18153 | 235444 |
|  GBank Financial Holdings, Inc.(x)\* | 10318 | 405188 |
|  German American Bancorp, Inc. | 41774 | 1640465 |
|  Glacier Bancorp, Inc.(x) | 135735 | 6606222 |
|  Great Southern Bancorp, Inc. | 10175 | 623219 |
|  Greene County Bancorp, Inc. | 7958 | 179851 |
|  Guaranty Bancshares, Inc. | 10227 | 498566 |
|  Hancock Whitney Corp. | 100054 | 6264381 |
|  Hanmi Financial Corp. | 35037 | 865064 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Hanover Bancorp, Inc. | 4436 | $99588 |
|  HarborOne Bancorp, Inc. | 43795 | 595612 |
|  Hawthorn Bancshares, Inc.(x) | 5971 | 185340 |
|  HBT Financial, Inc. | 15126 | 381175 |
|  Heritage Commerce Corp. | 69383 | 688973 |
|  Heritage Financial Corp. | 40128 | 970696 |
|  Hilltop Holdings, Inc. | 51343 | 1715883 |
|  Hingham Institution For Savings (The)(x) | 1862 | 491158 |
|  Home Bancorp, Inc. | 8314 | 451658 |
|  Home BancShares, Inc. | 217804 | 6163853 |
|  HomeTrust Bancshares, Inc. | 18407 | 753583 |
|  Hope Bancorp, Inc. | 141826 | 1527466 |
|  Horizon Bancorp, Inc. | 45646 | 730792 |
|  Independent Bank Corp. | 23534 | 728966 |
|  Independent Bank Corp./MA | 55557 | 3842878 |
|  International Bancshares Corp. | 63067 | 4335856 |
|  Investar Holding Corp. | 11604 | 269329 |
|  John Marshall Bancorp, Inc. | 15758 | 312324 |
|  Kearny Financial Corp. | 63545 | 417491 |
|  Lakeland Financial Corp. | 28675 | 1840935 |
|  Landmark Bancorp, Inc. | 4200 | 112098 |
|  LCNB Corp. | 15169 | 227383 |
|  LINKBANCORP, Inc. | 22620 | 161281 |
|  Live Oak Bancshares, Inc. | 39830 | 1402813 |
|  MainStreet Bancshares, Inc.(x) | 6873 | 143165 |
|  Mechanics Bancorp\* | 22933 | 305238 |
|  Mercantile Bank Corp. | 18365 | 826425 |
|  Meridian Corp. | 8984 | 141857 |
|  Metrocity Bankshares, Inc. | 22820 | 631886 |
|  Metropolitan Bank Holding Corp. | 10488 | 784712 |
|  Mid Penn Bancorp, Inc. | 22550 | 645832 |
|  Middlefield Banc Corp. | 9137 | 274201 |
|  Midland States Bancorp, Inc. | 25018 | 428809 |
|  MidWestOne Financial Group, Inc. | 16656 | 471198 |
|  MVB Financial Corp. | 14562 | 364924 |
|  National Bank Holdings Corp., Class A | 41944 | 1620716 |
|  National Bankshares, Inc.(x) | 6717 | 197748 |
|  NB Bancorp, Inc. | 39394 | 695304 |
|  NBT Bancorp, Inc. | 59195 | 2471983 |
|  Nicolet Bankshares, Inc. | 15471 | 2080849 |
|  Northeast Bank | 8742 | 875599 |
|  Northeast Community Bancorp, Inc. | 14536 | 299006 |
|  Northfield Bancorp, Inc. | 44869 | 529454 |
|  Northpointe Bancshares, Inc.(x) | 10989 | 187692 |
|  Northrim Bancorp, Inc. | 26416 | 572171 |
|  Northwest Bancshares, Inc. | 166847 | 2067234 |
|  Norwood Financial Corp.(x) | 8883 | 225806 |
|  Oak Valley Bancorp | 7933 | 223473 |
|  OceanFirst Financial Corp. | 63994 | 1124375 |
|  OFG Bancorp | 50708 | 2205291 |
|  Ohio Valley Banc Corp. | 3787 | 140043 |
|  Old National Bancorp | 400563 | 8792358 |
|  Old Second Bancorp, Inc. | 54269 | 938040 |
|  OP Bancorp(x) | 12376 | 172274 |
|  Orange County Bancorp, Inc. | 14283 | 360074 |
|  Origin Bancorp, Inc. | 35001 | 1208235 |
|  Orrstown Financial Services, Inc. | 21609 | 734274 |
|  Park National Corp. | 17018 | 2765936 |
|  Parke Bancorp, Inc. | 12397 | 267155 |
|  Pathward Financial, Inc. | 27182 | 2011740 |
|  Patriot National Bancorp, Inc.(x)\* | 47286 | 61472 |
|  PCB Bancorp | 12687 | 266427 |
|  Peapack-Gladstone Financial Corp. | 19453 | 536903 |
|  Peoples Bancorp of North Carolina, Inc. | 5723 | 175467 |
|  Peoples Bancorp, Inc. | 38619 | 1158184 |
|  Peoples Financial Services Corp. | 10796 | 524794 |
|  Pioneer Bancorp, Inc.\* | 14314 | 186941 |
|  Plumas Bancorp | 6381 | 275276 |
|  Ponce Financial Group, Inc.(x)\* | 23196 | 340981 |
|  Preferred Bank | 11651 | 1053134 |
|  Primis Financial Corp. | 23879 | 250968 |
|  Princeton Bancorp, Inc. | 6869 | 218709 |
|  Provident Bancorp, Inc.\* | 17669 | 221393 |
|  Provident Financial Services, Inc. | 141134 | 2721064 |
|  QCR Holdings, Inc. | 18742 | 1417645 |
|  RBB Bancorp | 19636 | 368371 |
|  Red River Bancshares, Inc. | 5487 | 355667 |
|  Renasant Corp. | 108238 | 3992900 |
|  Republic Bancorp, Inc., Class A | 9778 | 706460 |
|  Rhinebeck Bancorp, Inc.\* | 2492 | 28309 |
|  Richmond Mutual Bancorp, Inc.(x) | 8174 | 116153 |
|  Riverview Bancorp, Inc. | 19398 | 104167 |
|  S&T Bancorp, Inc. | 44366 | 1667718 |
|  SB Financial Group, Inc. | 5913 | 114062 |
|  Seacoast Banking Corp. of Florida | 98344 | 2992608 |
|  ServisFirst Bancshares, Inc. | 59136 | 4762222 |
|  Shore Bancshares, Inc. | 37621 | 617361 |
|  Sierra Bancorp | 15461 | 446977 |
|  Simmons First National Corp., Class A | 159700 | 3061449 |
|  SmartFinancial, Inc. | 16778 | 599478 |
|  Sound Financial Bancorp, Inc. | 1890 | 87053 |
|  South Plains Financial, Inc. | 14708 | 568464 |
|  Southern First Bancshares, Inc.\* | 9067 | 400036 |
|  Southern Missouri Bancorp, Inc. | 11047 | 580630 |
|  Southside Bancshares, Inc. | 31155 | 880129 |
|  SR Bancorp, Inc.(x) | 7944 | 119875 |
|  Stellar Bancorp, Inc. | 53932 | 1636297 |
|  Sterling Bancorp, Inc.(r)\* | 29695 |  |
|  Stock Yards Bancorp, Inc. | 30017 | 2100890 |
|  Texas Capital Bancshares, Inc.\* | 52147 | 4407986 |
|  Third Coast Bancshares, Inc.\* | 14996 | 569398 |
|  Timberland Bancorp, Inc. | 8761 | 291566 |
|  Tompkins Financial Corp. | 15819 | 1047376 |
|  Towne Bank | 83892 | 2900146 |
|  TriCo Bancshares | 35272 | 1566430 |
|  Triumph Financial, Inc.\* | 26289 | 1315502 |
|  TrustCo Bank Corp. | 21414 | 777328 |
|  Trustmark Corp. | 66658 | 2639657 |
|  UMB Financial Corp. | 83691 | 9904830 |
|  Union Bankshares, Inc.(x) | 3230 | 79975 |
|  United Bankshares, Inc. | 161860 | 6022811 |
|  United Community Banks, Inc. | 139819 | 4383326 |
|  United Security Bancshares | 8731 | 81460 |
|  Unity Bancorp, Inc. | 8609 | 420722 |
|  Univest Financial Corp. | 32407 | 972858 |
|  USCB Financial Holdings, Inc. | 12177 | 212489 |
|  Valley National Bancorp | 556124 | 5894914 |
|  Veritex Holdings, Inc. | 61140 | 2050024 |
|  Virginia National Bankshares Corp. | 5493 | 213183 |
|  WaFd, Inc. | 88800 | 2689752 |
|  Washington Trust Bancorp, Inc. | 20002 | 578058 |
|  WesBanco, Inc. | 108657 | 3469418 |
|  West Bancorp, Inc. | 18758 | 381163 |
|  Westamerica Bancorp | 28117 | 1405569 |
|  Western New England Bancorp, Inc.(x) | 18775 | 225488 |
|  WSFS Financial Corp. | 64938 | 3502106 |
|  |  | 323097873 |
|  ***Capital Markets (1.6%)*** |  |  |
|  Acadian Asset Management, Inc. | 30953 | 1490696 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  AlTi Global, Inc.(x)\* | 46942 | $167114 |
|  Artisan Partners Asset Management, Inc., Class A | 71924 | 3121502 |
|  Bakkt Holdings, Inc., Class A(x)\* | 12460 | 419279 |
|  BGC Group, Inc., Class A | 418308 | 3957194 |
|  Cohen & Steers, Inc. | 31671 | 2077934 |
|  Diamond Hill Investment Group, Inc. | 3121 | 436971 |
|  DigitalBridge Group, Inc. | 194767 | 2278774 |
|  Donnelley Financial Solutions, Inc.\* | 29891 | 1537294 |
|  Forge Global Holdings, Inc.(x)\* | 11774 | 198981 |
|  GCM Grosvenor, Inc., Class A(x) | 52915 | 638684 |
|  Marex Group plc | 61672 | 2073413 |
|  MarketWise, Inc. | 1834 | 30316 |
|  Moelis & Co., Class A | 75540 | 5387513 |
|  Open Lending Corp.(x)\* | 118519 | 250075 |
|  P10, Inc., Class A(x) | 48074 | 523045 |
|  Patria Investments Ltd., Class A(x) | 75183 | 1097672 |
|  Perella Weinberg Partners, Class A | 71730 | 1529284 |
|  Piper Sandler Cos. | 20157 | 6994277 |
|  PJT Partners, Inc., Class A | 26636 | 4734016 |
|  Siebert Financial Corp.(x)\* | 14997 | 43791 |
|  Silvercrest Asset Management Group, Inc., Class A | 12300 | 193725 |
|  StepStone Group, Inc., Class A | 79672 | 5203378 |
|  StoneX Group, Inc.\* | 52933 | 5341998 |
|  Value Line, Inc. | 1070 | 41816 |
|  Victory Capital Holdings, Inc., Class A | 51016 | 3303796 |
|  Virtus Investment Partners, Inc. | 7749 | 1472542 |
|  Westwood Holdings Group, Inc. | 7053 | 116304 |
|  WisdomTree, Inc.(x) | 138532 | 1925595 |
|  |  | 56586979 |
|  ***Consumer Finance (0.9%)*** |  |  |
|  Atlanticus Holdings Corp.\* | 5876 | 344216 |
|  Bread Financial Holdings, Inc. | 39420 | 2198454 |
|  Consumer Portfolio Services, Inc.\* | 11897 | 89822 |
|  Dave, Inc.\* | 10535 | 2100152 |
|  Encore Capital Group, Inc.\* | 25744 | 1074555 |
|  Enova International, Inc.\* | 27728 | 3191216 |
|  FirstCash Holdings, Inc. | 45515 | 7210486 |
|  Green Dot Corp., Class A\* | 59942 | 805021 |
|  Jefferson Capital, Inc. | 11309 | 195193 |
|  LendingClub Corp.\* | 129154 | 1961849 |
|  LendingTree, Inc.\* | 13075 | 846345 |
|  Medallion Financial Corp. | 23091 | 233219 |
|  Navient Corp. | 79200 | 1041480 |
|  Nelnet, Inc., Class A | 15180 | 1903268 |
|  NerdWallet, Inc., Class A\* | 48454 | 521365 |
|  Oportun Financial Corp.\* | 38461 | 237304 |
|  OppFi, Inc. | 28464 | 322497 |
|  PRA Group, Inc.\* | 47085 | 726993 |
|  PROG Holdings, Inc. | 44976 | 1455423 |
|  Regional Management Corp. | 11350 | 442196 |
|  Upstart Holdings, Inc.(x)\* | 96187 | 4886300 |
|  Vroom, Inc.\* | 1026 | 27733 |
|  World Acceptance Corp.\* | 3056 | 516892 |
|  |  | 32331979 |
|  ***Financial Services (2.2%)*** |  |  |
|  Acacia Research Corp.(x)\* | 42918 | 139484 |
|  Alerus Financial Corp. | 26356 | 583522 |
|  AvidXchange Holdings, Inc.\* | 199364 | 1983672 |
|  Banco Latinoamericano de Comercio Exterior SA, Class E | 34136 | 1569232 |
|  Better Home & Finance Holding Co.(x)\* | 5163 | 289851 |
|  Burford Capital Ltd. | 229921 | 2749855 |
|  Cannae Holdings, Inc. | 67100 | 1228601 |
|  Cantaloupe, Inc.\* | 68374 | 722713 |
|  Cass Information Systems, Inc. | 14263 | 560964 |
|  Compass Diversified Holdings | 79753 | 527965 |
|  Enact Holdings, Inc. | 34626 | 1327561 |
|  Essent Group Ltd. | 111696 | 7099398 |
|  Evertec, Inc. | 73346 | 2477628 |
|  Federal Agricultural Mortgage Corp., Class C | 10660 | 1790667 |
|  Finance of America Cos., Inc., Class A(x)\* | 5221 | 117107 |
|  Flywire Corp.\* | 132369 | 1792276 |
|  HA Sustainable Infrastructure Capital, Inc. | 137030 | 4206821 |
|  International Money Express, Inc.\* | 30404 | 424744 |
|  Jackson Financial, Inc., Class A | 82383 | 8339631 |
|  loanDepot, Inc., Class A(x)\* | 87734 | 269343 |
|  Marqeta, Inc., Class A\* | 439282 | 2319409 |
|  Merchants Bancorp | 30078 | 956480 |
|  NCR Atleos Corp.\* | 83822 | 3295043 |
|  NewtekOne, Inc. | 28526 | 326623 |
|  NMI Holdings, Inc., Class A\* | 90257 | 3460453 |
|  Onity Group, Inc.\* | 7435 | 297103 |
|  Pagseguro Digital Ltd., Class A | 207753 | 2077530 |
|  Payoneer Global, Inc.\* | 324780 | 1964919 |
|  Paysafe Ltd.(x)\* | 37290 | 481787 |
|  Paysign, Inc.\* | 42393 | 266652 |
|  PennyMac Financial Services, Inc. | 33543 | 4155307 |
|  Priority Technology Holdings, Inc.\* | 30430 | 209054 |
|  Radian Group, Inc. | 156160 | 5656115 |
|  Remitly Global, Inc.\* | 190609 | 3106927 |
|  Repay Holdings Corp., Class A\* | 92467 | 483602 |
|  Security National Financial Corp., Class A\* | 15921 | 138035 |
|  Sezzle, Inc.\* | 18193 | 1446889 |
|  StoneCo Ltd., Class A\* | 286818 | 5423728 |
|  SWK Holdings Corp.(x) | 4613 | 67119 |
|  Triller Group, Inc.\* | 96449 | 80062 |
|  Velocity Financial, Inc.\* | 12844 | 232990 |
|  Walker & Dunlop, Inc. | 37614 | 3145283 |
|  Waterstone Financial, Inc. | 18158 | 283265 |
|  |  | 78075410 |
|  ***Insurance (1.8%)*** |  |  |
|  Abacus Global Management, Inc.(x)\* | 43580 | 249713 |
|  Ambac Financial Group, Inc.\* | 49598 | 413647 |
|  American Coastal Insurance Corp. | 30170 | 343636 |
|  American Integrity Insurance Group, Inc.\* | 6887 | 153649 |
|  AMERISAFE, Inc. | 22175 | 972152 |
|  Aspen Insurance Holdings Ltd., Class A\* | 18254 | 670104 |
|  Ategrity Specialty Holdings LLC(x)\* | 3498 | 69156 |
|  Baldwin Insurance Group, Inc. (The), Class A(x)\* | 79967 | 2255869 |
|  Bowhead Specialty Holdings, Inc.\* | 18437 | 498537 |
|  Citizens, Inc., Class A\* | 48267 | 253402 |
|  CNO Financial Group, Inc. | 112517 | 4450047 |
|  Crawford & Co., Class A | 19393 | 207505 |
|  Donegal Group, Inc., Class A | 20358 | 394742 |
|  eHealth, Inc.\* | 32400 | 139644 |
|  Employers Holdings, Inc. | 27666 | 1175252 |
|  F&G Annuities & Life, Inc. | 24886 | 778185 |
|  Fidelis Insurance Holdings Ltd. | 67063 | 1217193 |
|  Genworth Financial, Inc., Class A\* | 475961 | 4236053 |
|  GoHealth, Inc., Class A\* | 4864 | 23445 |
|  Goosehead Insurance, Inc., Class A | 27865 | 2073713 |
|  Greenlight Capital Re Ltd., Class A\* | 31622 | 401599 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Hamilton Insurance Group Ltd., Class B\* | 53405 | $1324444 |
|  HCI Group, Inc. | 11855 | 2275330 |
|  Heritage Insurance Holdings, Inc.\* | 26319 | 662712 |
|  Hippo Holdings, Inc.(x)\* | 21123 | 763808 |
|  Horace Mann Educators Corp. | 45906 | 2073574 |
|  Investors Title Co. | 1653 | 442723 |
|  James River Group Holdings Ltd. | 45028 | 249905 |
|  Kestrel Group Ltd. | 2555 | 69777 |
|  Kingstone Cos., Inc. | 13142 | 193187 |
|  Kingsway Financial Services, Inc.(x)\* | 24986 | 365295 |
|  Lemonade, Inc.(x)\* | 63581 | 3403491 |
|  MBIA, Inc.(x)\* | 51379 | 382774 |
|  Mercury General Corp. | 30801 | 2611309 |
|  NI Holdings, Inc.\* | 9304 | 126162 |
|  Oscar Health, Inc., Class A(x)\* | 221672 | 4196251 |
|  Palomar Holdings, Inc.\* | 30278 | 3534957 |
|  ProAssurance Corp.\* | 59244 | 1421264 |
|  Root, Inc., Class A(x)\* | 13094 | 1172044 |
|  Safety Insurance Group, Inc. | 17457 | 1234035 |
|  Selective Insurance Group, Inc. | 69847 | 5662496 |
|  Selectquote, Inc.\* | 156584 | 306905 |
|  SiriusPoint Ltd.\* | 81181 | 1468564 |
|  Skyward Specialty Insurance Group, Inc.\* | 40971 | 1948581 |
|  Slide Insurance Holdings, Inc.\* | 27305 | 431009 |
|  Stewart Information Services Corp. | 31919 | 2340301 |
|  Tiptree, Inc., Class A | 28085 | 538390 |
|  Trupanion, Inc.\* | 41850 | 1811268 |
|  United Fire Group, Inc. | 25523 | 776410 |
|  Universal Insurance Holdings, Inc. | 30616 | 805201 |
|  |  | 63569410 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.8%)*** |  |  |
|  ACRES Commercial Realty Corp. (REIT)(x)\* | 6552 | 138640 |
|  Adamas Trust, Inc. (REIT)(x) | 100993 | 703921 |
|  Advanced Flower Capital, Inc. (REIT)(x) | 19093 | 73126 |
|  AG Mortgage Investment Trust, Inc. (REIT) | 33074 | 239456 |
|  Angel Oak Mortgage REIT, Inc. (REIT) | 12425 | 116422 |
|  Apollo Commercial Real Estate Finance, Inc. (REIT)(x) | 164253 | 1663883 |
|  Arbor Realty Trust, Inc. (REIT)(x) | 203356 | 2482977 |
|  Ares Commercial Real Estate Corp. (REIT)(x) | 65970 | 297525 |
|  ARMOUR Residential REIT, Inc. (REIT)(x) | 122376 | 1828298 |
|  Blackstone Mortgage Trust, Inc. (REIT), Class A | 185333 | 3411981 |
|  BrightSpire Capital, Inc. (REIT), Class A(x) | 152465 | 827885 |
|  Chicago Atlantic Real Estate Finance, Inc. (REIT) | 21210 | 271276 |
|  Chimera Investment Corp. (REIT) | 93770 | 1239639 |
|  Claros Mortgage Trust, Inc. (REIT)\* | 111273 | 369426 |
|  Dynex Capital, Inc. (REIT)(x) | 143258 | 1760641 |
|  Ellington Financial, Inc. (REIT)(x) | 107830 | 1399633 |
|  Franklin BSP Realty Trust, Inc. (REIT)(x) | 95391 | 1035946 |
|  Invesco Mortgage Capital, Inc. (REIT)(x) | 78663 | 594692 |
|  KKR Real Estate Finance Trust, Inc. (REIT)(x) | 69357 | 624213 |
|  Ladder Capital Corp. (REIT) | 134853 | 1471246 |
|  Lument Finance Trust, Inc. (REIT) | 28800 | 58176 |
|  MFA Financial, Inc. (REIT) | 122204 | 1123055 |
|  Nexpoint Real Estate Finance, Inc. (REIT) | 9478 | 134398 |
|  Orchid Island Capital, Inc. (REIT)(x) | 133323 | 934594 |
|  PennyMac Mortgage Investment Trust (REIT)(x) | 102821 | 1260586 |
|  Ready Capital Corp. (REIT)(x) | 190746 | 738187 |
|  Redwood Trust, Inc. (REIT) | 155410 | 899824 |
|  Rithm Property Trust, Inc. (REIT) | 37917 | 95551 |
|  Seven Hills Realty Trust (REIT) | 14004 | 144381 |
|  Sunrise Realty Trust, Inc. (REIT) | 10927 | 113532 |
|  TPG RE Finance Trust, Inc. (REIT) | 79943 | 684312 |
|  Two Harbors Investment Corp. (REIT)(x) | 123683 | 1220751 |
|  |  | 27958173 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 581619824 |
|  **Health Care (14.7%)** |  |  |
|  ***Biotechnology (6.8%)*** |  |  |
|  4D Molecular Therapeutics, Inc.(x)\* | 44997 | 391024 |
|  89bio, Inc.\* | 145178 | 2134117 |
|  Abeona Therapeutics, Inc.(x)\* | 50057 | 264301 |
|  Absci Corp.(x)\* | 150759 | 458307 |
|  ACADIA Pharmaceuticals, Inc.\* | 142209 | 3034740 |
|  Actuate Therapeutics, Inc.(x)\* | 5711 | 38207 |
|  ADC Therapeutics SA(x)\* | 83927 | 335708 |
|  ADMA Biologics, Inc.\* | 264899 | 3883419 |
|  Agios Pharmaceuticals, Inc.\* | 64033 | 2570285 |
|  Akebia Therapeutics, Inc.(x)\* | 291341 | 795361 |
|  Akero Therapeutics, Inc.\* | 79822 | 3789949 |
|  Aldeyra Therapeutics, Inc.\* | 59566 | 310935 |
|  Alector, Inc.\* | 76532 | 226535 |
|  Alkermes plc\* | 185626 | 5568780 |
|  Allogene Therapeutics, Inc.\* | 175020 | 217025 |
|  Altimmune, Inc.(x)\* | 89923 | 339010 |
|  Amicus Therapeutics, Inc.\* | 317008 | 2498023 |
|  AnaptysBio, Inc.(x)\* | 22905 | 701351 |
|  Anavex Life Sciences Corp.(x)\* | 97389 | 866762 |
|  Anika Therapeutics, Inc.\* | 15878 | 149253 |
|  Annexon, Inc.\* | 114466 | 349121 |
|  Apogee Therapeutics, Inc.\* | 37302 | 1482008 |
|  Arbutus Biopharma Corp.(x)\* | 176112 | 799549 |
|  Arcellx, Inc.\* | 39120 | 3211752 |
|  Arcturus Therapeutics Holdings, Inc.(x)\* | 29355 | 541013 |
|  Arcus Biosciences, Inc.\* | 79773 | 1084913 |
|  Arcutis Biotherapeutics, Inc.\* | 121361 | 2287655 |
|  Ardelyx, Inc.\* | 273858 | 1508958 |
|  ArriVent Biopharma, Inc.(x)\* | 27267 | 503076 |
|  Arrowhead Pharmaceuticals, Inc.\* | 137655 | 4747721 |
|  ARS Pharmaceuticals, Inc.(x)\* | 63870 | 641894 |
|  Astria Therapeutics, Inc.\* | 41734 | 303824 |
|  aTyr Pharma, Inc.(x)\* | 100394 | 72424 |
|  Aura Biosciences, Inc.(x)\* | 46294 | 286097 |
|  Aurinia Pharmaceuticals, Inc.\* | 132562 | 1464810 |
|  Avidity Biosciences, Inc.\* | 116438 | 5073204 |
|  Avita Medical, Inc.(x)\* | 13789 | 70462 |
|  Beam Therapeutics, Inc.(x)\* | 108341 | 2629436 |
|  Benitec Biopharma, Inc.\* | 16005 | 224550 |
|  Bicara Therapeutics, Inc.\* | 39503 | 623752 |
|  BioCryst Pharmaceuticals, Inc.\* | 235858 | 1790162 |
|  Biohaven Ltd.\* | 105393 | 1581949 |
|  Bridgebio Pharma, Inc.\* | 178582 | 9275549 |
|  Bright Minds Biosciences, Inc.\* | 4978 | 301966 |
|  Candel Therapeutics, Inc.(x)\* | 45474 | 231917 |
|  Capricor Therapeutics, Inc.(x)\* | 46219 | 333239 |
|  Cardiff Oncology, Inc.(x)\* | 74770 | 154026 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  CareDx, Inc.\* | 63542 | $923901 |
|  Cartesian Therapeutics, Inc.(x)\* | 11397 | 116477 |
|  Catalyst Pharmaceuticals, Inc.\* | 131757 | 2595613 |
|  Celcuity, Inc.(x)\* | 33349 | 1647441 |
|  Celldex Therapeutics, Inc.\* | 74011 | 1914665 |
|  CG oncology, Inc.(x)\* | 63211 | 2546139 |
|  Cidara Therapeutics, Inc.\* | 17572 | 1682695 |
|  Cogent Biosciences, Inc.\* | 147588 | 2119364 |
|  Coherus Oncology, Inc.(x)\* | 134653 | 220831 |
|  Compass Therapeutics, Inc.(x)\* | 107502 | 376257 |
|  Corvus Pharmaceuticals, Inc.(x)\* | 70731 | 521288 |
|  CRISPR Therapeutics AG(x)\* | 94397 | 6117870 |
|  Cullinan Therapeutics, Inc.\* | 58977 | 349734 |
|  Cytokinetics, Inc.\* | 133327 | 7327652 |
|  Day One Biopharmaceuticals, Inc.\* | 83009 | 585213 |
|  Denali Therapeutics, Inc.\* | 149337 | 2168373 |
|  Design Therapeutics, Inc.(x)\* | 28321 | 213257 |
|  DiaMedica Therapeutics, Inc.(x)\* | 36487 | 250666 |
|  Dianthus Therapeutics, Inc.\* | 18726 | 736868 |
|  Disc Medicine, Inc.\* | 26450 | 1747816 |
|  Dynavax Technologies Corp.\* | 116768 | 1159506 |
|  Dyne Therapeutics, Inc.\* | 123975 | 1568284 |
|  Editas Medicine, Inc.\* | 101390 | 351823 |
|  Eledon Pharmaceuticals, Inc.(x)\* | 63733 | 165069 |
|  Emergent BioSolutions, Inc.\* | 62218 | 548763 |
|  Enanta Pharmaceuticals, Inc.\* | 24754 | 296305 |
|  Entrada Therapeutics, Inc.\* | 33821 | 196162 |
|  Erasca, Inc.(x)\* | 210096 | 458009 |
|  Fate Therapeutics, Inc.\* | 122221 | 153998 |
|  Fennec Pharmaceuticals, Inc.\* | 27008 | 252795 |
|  Foghorn Therapeutics, Inc.\* | 36498 | 178475 |
|  Geron Corp.\* | 621298 | 851178 |
|  Gossamer Bio, Inc.\* | 211999 | 557557 |
|  GRAIL, Inc.(x)\* | 35443 | 2095745 |
|  Greenwich Lifesciences, Inc.(x)\* | 6644 | 66108 |
|  Gyre Therapeutics, Inc.\* | 15190 | 113317 |
|  Heron Therapeutics, Inc.(x)\* | 175959 | 221708 |
|  Humacyte, Inc.(x)\* | 144365 | 251195 |
|  Ideaya Biosciences, Inc.\* | 91340 | 2485361 |
|  ImmunityBio, Inc.(x)\* | 267053 | 656950 |
|  Immunome, Inc.(x)\* | 84804 | 993055 |
|  Immunovant, Inc.(x)\* | 79337 | 1278912 |
|  Inhibikase Therapeutics, Inc.\* | 60972 | 98775 |
|  Inhibrx Biosciences, Inc.\* | 11515 | 387825 |
|  Inmune Bio, Inc.(x)\* | 19376 | 40108 |
|  Intellia Therapeutics, Inc.(x)\* | 112621 | 1944965 |
|  Iovance Biotherapeutics, Inc.(x)\* | 301266 | 653747 |
|  Ironwood Pharmaceuticals, Inc., Class A\* | 162335 | 212659 |
|  Jade Biosciences, Inc.(x) | 36593 | 315798 |
|  Janux Therapeutics, Inc.\* | 45753 | 1118203 |
|  KalVista Pharmaceuticals, Inc.\* | 44285 | 539391 |
|  Keros Therapeutics, Inc.\* | 40105 | 634461 |
|  Kodiak Sciences, Inc.\* | 39649 | 649054 |
|  Korro Bio, Inc.(x)\* | 7329 | 350986 |
|  Krystal Biotech, Inc.\* | 28298 | 4995446 |
|  Kura Oncology, Inc.\* | 91785 | 812297 |
|  Kymera Therapeutics, Inc.(x)\* | 57432 | 3250651 |
|  Larimar Therapeutics, Inc.\* | 51019 | 164791 |
|  Lexeo Therapeutics, Inc.\* | 27336 | 181511 |
|  Madrigal Pharmaceuticals, Inc.\* | 21240 | 9741938 |
|  MannKind Corp.\* | 351095 | 1885380 |
|  MeiraGTx Holdings plc(x)\* | 49619 | 408364 |
|  Metsera, Inc.(x)\* | 60834 | 3183443 |
|  MiMedx Group, Inc.\* | 131843 | 920264 |
|  Mineralys Therapeutics, Inc.\* | 45461 | 1723881 |
|  Mirum Pharmaceuticals, Inc.\* | 46130 | 3381790 |
|  Monopar Therapeutics, Inc.\* | 4488 | 366535 |
|  Monte Rosa Therapeutics, Inc.(x)\* | 53764 | 398391 |
|  Myriad Genetics, Inc.\* | 106866 | 772641 |
|  Neurogene, Inc.(x)\* | 11896 | 206158 |
|  Nkarta, Inc.\* | 64171 | 132834 |
|  Novavax, Inc.(x)\* | 174852 | 1515967 |
|  Nurix Therapeutics, Inc.\* | 87238 | 806079 |
|  Nuvalent, Inc., Class A\* | 49140 | 4249627 |
|  Nuvectis Pharma, Inc.(x)\* | 13916 | 83774 |
|  Olema Pharmaceuticals, Inc.(x)\* | 68483 | 670449 |
|  Organogenesis Holdings, Inc., Class A(x)\* | 83010 | 350302 |
|  ORIC Pharmaceuticals, Inc.(x)\* | 65406 | 784872 |
|  Oruka Therapeutics, Inc.(x)\* | 30493 | 586380 |
|  Palvella Therapeutics, Inc.(x)\* | 7602 | 476569 |
|  Perspective Therapeutics, Inc.(x)\* | 72033 | 247073 |
|  Praxis Precision Medicines, Inc.\* | 21050 | 1115650 |
|  Precigen, Inc.(x)\* | 180370 | 593417 |
|  Prime Medicine, Inc.(x)\* | 85087 | 471382 |
|  Protagonist Therapeutics, Inc.\* | 66521 | 4418990 |
|  Protalix BioTherapeutics, Inc.(x)\* | 75469 | 167541 |
|  Protara Therapeutics, Inc.\* | 35142 | 152868 |
|  Prothena Corp. plc\* | 45005 | 439249 |
|  PTC Therapeutics, Inc.\* | 88688 | 5442783 |
|  Puma Biotechnology, Inc.\* | 48715 | 258677 |
|  Recursion Pharmaceuticals, Inc., Class A(x)\* | 416512 | 2032579 |
|  REGENXBIO, Inc.\* | 55787 | 538345 |
|  Relay Therapeutics, Inc.\* | 149820 | 782060 |
|  Replimune Group, Inc.(x)\* | 76134 | 319002 |
|  Rezolute, Inc.\* | 87517 | 822660 |
|  Rhythm Pharmaceuticals, Inc.\* | 59628 | 6021832 |
|  Rigel Pharmaceuticals, Inc.\* | 20758 | 588074 |
|  Rocket Pharmaceuticals, Inc.\* | 92367 | 301116 |
|  Sana Biotechnology, Inc.(x)\* | 151711 | 538574 |
|  Savara, Inc.(x)\* | 127905 | 456621 |
|  Scholar Rock Holding Corp.(x)\* | 92630 | 3449541 |
|  SELLAS Life Sciences Group, Inc.(x)\* | 108441 | 174590 |
|  Sionna Therapeutics, Inc.(x)\* | 13557 | 398711 |
|  Soleno Therapeutics, Inc.(x)\* | 48044 | 3247774 |
|  Solid Biosciences, Inc.\* | 63930 | 394448 |
|  Spyre Therapeutics, Inc.(x)\* | 57873 | 969952 |
|  Stoke Therapeutics, Inc.(x)\* | 51000 | 1198500 |
|  Syndax Pharmaceuticals, Inc.\* | 99064 | 1524100 |
|  Tango Therapeutics, Inc.(x)\* | 78960 | 663264 |
|  Taysha Gene Therapies, Inc.\* | 238830 | 780974 |
|  Tectonic Therapeutic, Inc.(x)\* | 12574 | 197286 |
|  Tevogen Bio Holdings, Inc.(x)\* | 24665 | 19369 |
|  TG Therapeutics, Inc.\* | 165782 | 5988875 |
|  Tonix Pharmaceuticals Holding Corp.(x)\* | 8708 | 210385 |
|  Tourmaline Bio, Inc.\* | 19995 | 956361 |
|  Travere Therapeutics, Inc.\* | 100075 | 2391793 |
|  TriSalus Life Sciences, Inc.\* | 13760 | 63984 |
|  TuHURA Biosciences, Inc.(x)\* | 24933 | 61834 |
|  Twist Bioscience Corp.\* | 66522 | 1871929 |
|  Tyra Biosciences, Inc.(x)\* | 27685 | 387313 |
|  Upstream Bio, Inc.(x)\* | 36047 | 678044 |
|  UroGen Pharma Ltd.(x)\* | 43075 | 859346 |
|  Vanda Pharmaceuticals, Inc.\* | 69184 | 345228 |
|  Vaxcyte, Inc.\* | 130653 | 4706121 |
|  Vera Therapeutics, Inc., Class A\* | 59892 | 1740462 |
|  Veracyte, Inc.\* | 89403 | 3069205 |
|  Verastem, Inc.\* | 53400 | 471522 |
|  Vericel Corp.\* | 56645 | 1782618 |
|  Vir Biotechnology, Inc.(x)\* | 103794 | 592664 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Viridian Therapeutics, Inc.\* | 81304 | $1754540 |
|  Voyager Therapeutics, Inc.(x)\* | 56024 | 261632 |
|  Xencor, Inc.\* | 81762 | 959068 |
|  Xenon Pharmaceuticals, Inc.\* | 85979 | 3452057 |
|  XOMA Royalty Corp.\* | 10449 | 402704 |
|  Zenas Biopharma, Inc.(x)\* | 19554 | 434099 |
|  Zymeworks, Inc.\* | 58511 | 999368 |
|  |  | 241374974 |
|  ***Health Care Equipment & Supplies (2.3%)*** |  |  |
|  Accuray, Inc.\* | 108458 | 181125 |
|  Alphatec Holdings, Inc.\* | 131012 | 1904914 |
|  AngioDynamics, Inc.\* | 45894 | 512636 |
|  Anteris Technologies Global Corp.(x)\* | 35384 | 159228 |
|  Artivion, Inc.\* | 43142 | 1826632 |
|  AtriCure, Inc.\* | 54603 | 1924756 |
|  Avanos Medical, Inc.\* | 52146 | 602808 |
|  Axogen, Inc.\* | 50700 | 904488 |
|  Beta Bionics, Inc.(x)\* | 43266 | 859695 |
|  Bioventus, Inc., Class A(x)\* | 53285 | 356477 |
|  Butterfly Network, Inc., Class A(x)\* | 221850 | 428171 |
|  Carlsmed, Inc.(x)\* | 5976 | 80019 |
|  Ceribell, Inc.(x)\* | 28560 | 328154 |
|  Cerus Corp.\* | 217515 | 345849 |
|  ClearPoint Neuro, Inc.(x)\* | 29958 | 652785 |
|  CONMED Corp. | 35243 | 1657478 |
|  CVRx, Inc.(x)\* | 16021 | 129289 |
|  Delcath Systems, Inc.\* | 35007 | 376325 |
|  Electromed, Inc.\* | 7543 | 185181 |
|  Embecta Corp. | 68902 | 972207 |
|  Enovis Corp.\* | 66149 | 2006961 |
|  Glaukos Corp.\* | 63605 | 5186988 |
|  Haemonetics Corp.\* | 54981 | 2679774 |
|  ICU Medical, Inc.(x)\* | 27553 | 3305258 |
|  Inogen, Inc.\* | 28312 | 231309 |
|  Integer Holdings Corp.\* | 39240 | 4054669 |
|  Integra LifeSciences Holdings Corp.\* | 78748 | 1128459 |
|  iRadimed Corp. | 9072 | 645564 |
|  iRhythm Technologies, Inc.\* | 36412 | 6262500 |
|  Kestra Medical Technologies Ltd.(x)\* | 14441 | 343118 |
|  KORU Medical Systems, Inc.\* | 42991 | 164656 |
|  Lantheus Holdings, Inc.\* | 77379 | 3968769 |
|  LeMaitre Vascular, Inc. | 23522 | 2058410 |
|  LENSAR, Inc.(x)\* | 11007 | 135936 |
|  LivaNova plc\* | 62258 | 3261074 |
|  Lucid Diagnostics, Inc.(x)\* | 74272 | 75015 |
|  Merit Medical Systems, Inc.\* | 66866 | 5565257 |
|  Myomo, Inc.(x)\* | 36214 | 32303 |
|  Neogen Corp.(x)\* | 253998 | 1450329 |
|  Neuronetics, Inc.(x)\* | 41673 | 113767 |
|  NeuroPace, Inc.\* | 27909 | 287742 |
|  Novocure Ltd.\* | 118599 | 1532299 |
|  Omnicell, Inc.\* | 52302 | 1592596 |
|  OraSure Technologies, Inc.\* | 81864 | 262783 |
|  Orthofix Medical, Inc.\* | 44818 | 656136 |
|  OrthoPediatrics Corp.\* | 19749 | 365949 |
|  Outset Medical, Inc.(x)\* | 20259 | 286057 |
|  PROCEPT BioRobotics Corp.\* | 59480 | 2122841 |
|  Pro-Dex, Inc.(x)\* | 2354 | 79683 |
|  Pulmonx Corp.\* | 42962 | 69598 |
|  Pulse Biosciences, Inc.(x)\* | 21334 | 377612 |
|  QuidelOrtho Corp.\* | 76635 | 2256901 |
|  RxSight, Inc.\* | 42584 | 382830 |
|  Sanara Medtech, Inc.\* | 3962 | 125714 |
|  SANUWAVE Health, Inc.\* | 7947 | 297854 |
|  Semler Scientific, Inc.(x)\* | 13462 | 403860 |
|  Shoulder Innovations, Inc.(x)\* | 4280 | 53714 |
|  SI-BONE, Inc.\* | 44688 | 657807 |
|  Sight Sciences, Inc.\* | 48221 | 165880 |
|  STAAR Surgical Co.\* | 57432 | 1543198 |
|  Stereotaxis, Inc.\* | 63157 | 196418 |
|  Surmodics, Inc.\* | 15885 | 474803 |
|  Tactile Systems Technology, Inc.\* | 27251 | 377154 |
|  Tandem Diabetes Care, Inc.\* | 77910 | 945827 |
|  TransMedics Group, Inc.(x)\* | 37935 | 4256307 |
|  Treace Medical Concepts, Inc.\* | 59163 | 396984 |
|  UFP Technologies, Inc.\* | 8757 | 1747897 |
|  Utah Medical Products, Inc. | 3437 | 216428 |
|  Varex Imaging Corp.\* | 47968 | 594803 |
|  Zimvie, Inc.\* | 30528 | 578200 |
|  |  | 80364208 |
|  ***Health Care Providers & Services (2.9%)*** |  |  |
|  AdaptHealth Corp., Class A\* | 115582 | 1034459 |
|  Addus HomeCare Corp.\* | 20484 | 2416907 |
|  agilon health, Inc.\* | 366763 | 377766 |
|  AirSculpt Technologies, Inc.(x)\* | 14813 | 118800 |
|  Alignment Healthcare, Inc.\* | 166316 | 2902214 |
|  AMN Healthcare Services, Inc.\* | 44121 | 854183 |
|  Ardent Health, Inc.\* | 28763 | 381110 |
|  Astrana Health, Inc.\* | 47713 | 1352664 |
|  Aveanna Healthcare Holdings, Inc.\* | 55578 | 492977 |
|  BrightSpring Health Services, Inc.\* | 106817 | 3157510 |
|  Brookdale Senior Living, Inc.\* | 266365 | 2256112 |
|  Castle Biosciences, Inc.\* | 33023 | 751934 |
|  Clover Health Investments Corp., Class A(x)\* | 468563 | 1433803 |
|  Community Health Systems, Inc.\* | 154151 | 494825 |
|  Concentra Group Holdings Parent, Inc. | 132230 | 2767574 |
|  CorVel Corp.\* | 32887 | 2546111 |
|  Cross Country Healthcare, Inc.\* | 37195 | 528169 |
|  DocGo, Inc.\* | 104443 | 142042 |
|  Enhabit, Inc.\* | 57437 | 460070 |
|  Ensign Group, Inc. (The) | 64148 | 11082850 |
|  Fulgent Genetics, Inc.\* | 23654 | 534580 |
|  GeneDx Holdings Corp., Class A\* | 21365 | 2301865 |
|  Guardant Health, Inc.\* | 136352 | 8519273 |
|  HealthEquity, Inc.\* | 97601 | 9249647 |
|  Hims & Hers Health, Inc.(x)\* | 217713 | 12348681 |
|  Innovage Holding Corp.\* | 17679 | 91224 |
|  Joint Corp. (The)\* | 16337 | 155855 |
|  LifeStance Health Group, Inc.\* | 156275 | 859512 |
|  Nano-X Imaging Ltd.(x)\* | 74549 | 275831 |
|  National HealthCare Corp. | 14775 | 1795310 |
|  National Research Corp. | 15035 | 192147 |
|  NeoGenomics, Inc.\* | 144424 | 1114953 |
|  Nutex Health, Inc.(x)\* | 3987 | 411937 |
|  Omada Health, Inc.(x)\* | 10015 | 221432 |
|  Oncology Institute, Inc. (The)(x)\* | 67231 | 234636 |
|  OPKO Health, Inc.(x)\* | 464221 | 719543 |
|  Option Care Health, Inc.\* | 187683 | 5210080 |
|  Owens & Minor, Inc.\* | 90129 | 432619 |
|  PACS Group, Inc.\* | 51157 | 702386 |
|  Pediatrix Medical Group, Inc.\* | 96501 | 1616392 |
|  Pennant Group, Inc. (The)\* | 39796 | 1003655 |
|  Performant Healthcare, Inc.(x)\* | 80008 | 618462 |
|  Premier, Inc., Class A | 94115 | 2616397 |
|  Privia Health Group, Inc.\* | 130084 | 3239092 |
|  Progyny, Inc.\* | 85035 | 1829953 |
|  RadNet, Inc.\* | 77546 | 5909781 |
|  SBC Medical Group Holdings, Inc.(x)\* | 6684 | 29009 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Select Medical Holdings Corp. | 130172 | $1671408 |
|  Sonida Senior Living, Inc.(x)\* | 6470 | 179348 |
|  Surgery Partners, Inc.(x)\* | 86904 | 1880603 |
|  Talkspace, Inc.\* | 147478 | 407039 |
|  US Physical Therapy, Inc. | 17415 | 1479404 |
|  Viemed Healthcare, Inc.\* | 39687 | 269475 |
|  |  | 103673609 |
|  ***Health Care Technology (0.4%)*** |  |  |
|  Claritev Corp.(x)\* | 8809 | 467582 |
|  Definitive Healthcare Corp., Class A\* | 43349 | 175997 |
|  Evolent Health, Inc., Class A\* | 137443 | 1162768 |
|  Health Catalyst, Inc.\* | 79397 | 226281 |
|  HealthStream, Inc. | 28359 | 800858 |
|  LifeMD, Inc.(x)\* | 43866 | 297850 |
|  OptimizeRx Corp.\* | 17604 | 360882 |
|  Phreesia, Inc.\* | 65237 | 1534374 |
|  Schrodinger, Inc.(x)\* | 62693 | 1257622 |
|  Simulations Plus, Inc.(x)\* | 19013 | 286526 |
|  Teladoc Health, Inc.\* | 205025 | 1584843 |
|  TruBridge, Inc.\* | 11435 | 230644 |
|  Waystar Holding Corp.\* | 125070 | 4742654 |
|  |  | 13128881 |
|  ***Life Sciences Tools & Services (0.4%)*** |  |  |
|  10X Genomics, Inc., Class A(x)\* | 122383 | 1430657 |
|  Adaptive Biotechnologies Corp.\* | 169096 | 2529676 |
|  Alpha Teknova, Inc.(x)\* | 12121 | 75029 |
|  Azenta, Inc.\* | 47177 | 1354923 |
|  BioLife Solutions, Inc.\* | 44233 | 1128384 |
|  Codexis, Inc.(x)\* | 92542 | 225802 |
|  CryoPort, Inc.\* | 56047 | 531326 |
|  Cytek Biosciences, Inc.\* | 141488 | 490963 |
|  Fortrea Holdings, Inc.\* | 105331 | 886887 |
|  Ginkgo Bioworks Holdings, Inc., Class A\* | 44615 | 650487 |
|  Lifecore Biomedical, Inc.(x)\* | 32407 | 238516 |
|  Maravai LifeSciences Holdings, Inc., Class A(x)\* | 118733 | 340764 |
|  MaxCyte, Inc.\* | 125926 | 198963 |
|  Mesa Laboratories, Inc. | 6013 | 402931 |
|  Niagen Bioscience, Inc.\* | 60954 | 568701 |
|  OmniAb, Inc.\* | 107275 | 171640 |
|  Pacific Biosciences of California, Inc.(x)\* | 316453 | 405060 |
|  Personalis, Inc.\* | 57560 | 375291 |
|  Quanterix Corp.(x)\* | 41157 | 223482 |
|  Quantum-Si, Inc.(x)\* | 163026 | 229867 |
|  Standard BioTools, Inc.\* | 342276 | 444959 |
|  |  | 12904308 |
|  ***Pharmaceuticals (1.9%)*** |  |  |
|  Aardvark Therapeutics, Inc.\* | 5552 | 73786 |
|  Aclaris Therapeutics, Inc.\* | 97881 | 185974 |
|  Alumis, Inc.(x)\* | 54886 | 218995 |
|  Amneal Pharmaceuticals, Inc.\* | 170514 | 1706845 |
|  Amphastar Pharmaceuticals, Inc.\* | 41722 | 1111891 |
|  Amylyx Pharmaceuticals, Inc.\* | 79780 | 1084210 |
|  ANI Pharmaceuticals, Inc.\* | 20558 | 1883113 |
|  Aquestive Therapeutics, Inc.(x)\* | 99072 | 553812 |
|  Arvinas, Inc.\* | 74778 | 637109 |
|  Atea Pharmaceuticals, Inc.\* | 90075 | 261217 |
|  Avadel Pharmaceuticals plc (ADR)\* | 100314 | 1531795 |
|  Axsome Therapeutics, Inc.\* | 46237 | 5615484 |
|  BioAge Labs, Inc.(x)\* | 26245 | 154321 |
|  Biote Corp., Class A(x)\* | 31330 | 93990 |
|  Collegium Pharmaceutical, Inc.\* | 37341 | 1306562 |
|  CorMedix, Inc.(x)\* | 80349 | 934459 |
|  Crinetics Pharmaceuticals, Inc.\* | 103083 | 4293407 |
|  Edgewise Therapeutics, Inc.\* | 76901 | 1247334 |
|  Enliven Therapeutics, Inc.(x)\* | 47145 | 965058 |
|  Esperion Therapeutics, Inc.(x)\* | 218978 | 580292 |
|  Eton Pharmaceuticals, Inc.(x)\* | 29798 | 647511 |
|  Evolus, Inc.\* | 62675 | 384824 |
|  EyePoint Pharmaceuticals, Inc.(x)\* | 66676 | 949466 |
|  Fulcrum Therapeutics, Inc.\* | 49208 | 452714 |
|  Harmony Biosciences Holdings, Inc.\* | 50890 | 1402528 |
|  Harrow, Inc.(x)\* | 36363 | 1751969 |
|  Indivior plc\* | 137941 | 3325757 |
|  Innoviva, Inc.\* | 72603 | 1325005 |
|  Journey Medical Corp.(x)\* | 12566 | 89470 |
|  LENZ Therapeutics, Inc.(x)\* | 18480 | 860798 |
|  Ligand Pharmaceuticals, Inc.\* | 21769 | 3856161 |
|  Liquidia Corp.(x)\* | 73349 | 1667956 |
|  Maze Therapeutics, Inc.\* | 21756 | 564133 |
|  MBX Biosciences, Inc.\* | 19334 | 338345 |
|  MediWound Ltd.(x)\* | 9255 | 166775 |
|  Mind Medicine MindMed, Inc.(x)\* | 83082 | 979537 |
|  Nuvation Bio, Inc.(x)\* | 289254 | 1070240 |
|  Ocular Therapeutix, Inc.\* | 159266 | 1861820 |
|  Omeros Corp.(x)\* | 66017 | 270670 |
|  Pacira BioSciences, Inc.\* | 53348 | 1374778 |
|  Phathom Pharmaceuticals, Inc.(x)\* | 48932 | 575930 |
|  Phibro Animal Health Corp., Class A | 23775 | 961936 |
|  Prestige Consumer Healthcare, Inc.\* | 56389 | 3518674 |
|  Rapport Therapeutics, Inc.(x)\* | 18756 | 557053 |
|  scPharmaceuticals, Inc.\* | 43784 | 248255 |
|  Septerna, Inc.(x)\* | 24642 | 463516 |
|  SIGA Technologies, Inc. | 48917 | 447591 |
|  Supernus Pharmaceuticals, Inc.\* | 61300 | 2929527 |
|  Tarsus Pharmaceuticals, Inc.\* | 45192 | 2685761 |
|  Terns Pharmaceuticals, Inc.\* | 80669 | 605824 |
|  Theravance Biopharma, Inc.\* | 43122 | 629581 |
|  Third Harmonic Bio, Inc.(r)\* | 30213 |  |
|  Trevi Therapeutics, Inc.\* | 99452 | 909986 |
|  Tvardi Therapeutics, Inc.(x)\* | 5650 | 220180 |
|  WaVe Life Sciences Ltd.\* | 130169 | 952837 |
|  Xeris Biopharma Holdings, Inc.\* | 174829 | 1423108 |
|  Zevra Therapeutics, Inc.(x)\* | 64223 | 610761 |
|  |  | 65520631 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 516966611 |
|  **Industrials (16.3%)** |  |  |
|  ***Aerospace & Defense (1.8%)*** |  |  |
|  AAR Corp.\* | 40727 | 3651990 |
|  AeroVironment, Inc.\* | 36465 | 11482464 |
|  AerSale Corp.\* | 36648 | 300147 |
|  AIRO Group Holdings, Inc.\* | 4819 | 92525 |
|  Archer Aviation, Inc., Class A(x)\* | 628227 | 6018415 |
|  Astronics Corp.\* | 35353 | 1612450 |
|  Byrna Technologies, Inc.(x)\* | 20595 | 456385 |
|  Cadre Holdings, Inc. | 33105 | 1208664 |
|  Ducommun, Inc.\* | 16025 | 1540483 |
|  Eve Holding, Inc.(x)\* | 58828 | 224135 |
|  Intuitive Machines, Inc.(x)\* | 127596 | 1342310 |
|  Kratos Defense & Security Solutions, Inc.\* | 190572 | 17412564 |
|  Mercury Systems, Inc.\* | 59505 | 4605687 |
|  Moog, Inc., Class A | 32153 | 6677214 |
|  National Presto Industries, Inc. | 5965 | 668975 |
|  Park Aerospace Corp. | 21407 | 435418 |
|  Redwire Corp.(x)\* | 55181 | 496077 |
|  Satellogic, Inc., Class A(x)\* | 79266 | 259992 |
|  V2X, Inc.\* | 21912 | 1272868 |
|  Voyager Technologies, Inc., Class A(x)\* | 14844 | 442054 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  VSE Corp. | 23227 | $3861256 |
|  |  | 64062073 |
|  ***Air Freight & Logistics (0.1%)*** |  |  |
|  Forward Air Corp.(x)\* | 23990 | 615104 |
|  Hub Group, Inc., Class A | 67932 | 2339578 |
|  Radiant Logistics, Inc.\* | 41187 | 243003 |
|  |  | 3197685 |
|  ***Building Products (1.2%)*** |  |  |
|  American Woodmark Corp.\* | 16141 | 1077573 |
|  Apogee Enterprises, Inc. | 24780 | 1079664 |
|  AZZ, Inc. | 33805 | 3689140 |
|  CSW Industrials, Inc. | 18568 | 4507382 |
|  Gibraltar Industries, Inc.\* | 33841 | 2125215 |
|  Griffon Corp. | 43768 | 3332933 |
|  Insteel Industries, Inc. | 20612 | 790264 |
|  Janus International Group, Inc.\* | 153315 | 1513219 |
|  JELD-WEN Holding, Inc.\* | 98180 | 482064 |
|  Masterbrand, Inc.\* | 147493 | 1942483 |
|  Quanex Building Products Corp. | 50602 | 719560 |
|  Resideo Technologies, Inc.\* | 157826 | 6814927 |
|  Tecnoglass, Inc. | 27541 | 1842768 |
|  UFP Industries, Inc. | 68961 | 6447164 |
|  Zurn Elkay Water Solutions Corp. | 171657 | 8073029 |
|  |  | 44437385 |
|  ***Commercial Services & Supplies (1.5%)*** |  |  |
|  ABM Industries, Inc. | 70463 | 3249754 |
|  ACCO Brands Corp. | 109015 | 434970 |
|  Acme United Corp.(x) | 3316 | 136553 |
|  ACV Auctions, Inc., Class A\* | 189141 | 1874387 |
|  BrightView Holdings, Inc.\* | 79357 | 1063384 |
|  Brink's Co. (The) | 48179 | 5630198 |
|  Casella Waste Systems, Inc., Class A\* | 71862 | 6818266 |
|  CECO Environmental Corp.\* | 33674 | 1724109 |
|  Cimpress plc\* | 17706 | 1116186 |
|  CompX International, Inc.(x) | 1414 | 33088 |
|  CoreCivic, Inc.\* | 122386 | 2490555 |
|  Deluxe Corp. | 51519 | 997408 |
|  Driven Brands Holdings, Inc.\* | 69667 | 1122335 |
|  Ennis, Inc. | 28774 | 525989 |
|  Enviri Corp.\* | 88797 | 1126834 |
|  GEO Group, Inc. (The)\* | 154530 | 3166320 |
|  Healthcare Services Group, Inc.\* | 85489 | 1438780 |
|  HNI Corp. | 51642 | 2419428 |
|  Interface, Inc., Class A | 66017 | 1910532 |
|  Liquidity Services, Inc.\* | 26984 | 740171 |
|  MillerKnoll, Inc. | 76070 | 1349482 |
|  Mobile Infrastructure Corp., Class A(x)\* | 11874 | 41796 |
|  Montrose Environmental Group, Inc.\* | 36296 | 996688 |
|  NL Industries, Inc. | 8051 | 49514 |
|  OPENLANE, Inc.\* | 121586 | 3499245 |
|  Perma-Fix Environmental Services, Inc.(x)\* | 20585 | 207908 |
|  Pitney Bowes, Inc.(x) | 191239 | 2182037 |
|  Quad/Graphics, Inc. | 34881 | 218355 |
|  Steelcase, Inc., Class A | 95727 | 1646504 |
|  UniFirst Corp. | 17156 | 2868312 |
|  Vestis Corp. | 133499 | 604750 |
|  Virco Mfg. Corp.(x) | 12536 | 97154 |
|  |  | 51780992 |
|  ***Construction & Engineering (2.2%)*** |  |  |
|  Ameresco, Inc., Class A\* | 37592 | 1262339 |
|  Arcosa, Inc. | 55456 | 5196782 |
|  Argan, Inc. | 15168 | 4096119 |
|  Bowman Consulting Group Ltd., Class A\* | 15930 | 674795 |
|  Centuri Holdings, Inc.\* | 80111 | 1695950 |
|  Concrete Pumping Holdings, Inc. | 29164 | 205606 |
|  Construction Partners, Inc., Class A\* | 53694 | 6819138 |
|  Dycom Industries, Inc.\* | 32053 | 9351783 |
|  Fluor Corp.\* | 187506 | 7888378 |
|  Granite Construction, Inc.(x) | 50143 | 5498180 |
|  Great Lakes Dredge & Dock Corp.\* | 76768 | 920448 |
|  IES Holdings, Inc.(x)\* | 10343 | 4112894 |
|  Limbach Holdings, Inc.\* | 12388 | 1203123 |
|  Matrix Service Co.\* | 31963 | 418076 |
|  MYR Group, Inc.\* | 17613 | 3664032 |
|  NWPX Infrastructure, Inc.\* | 11684 | 618434 |
|  Orion Group Holdings, Inc.\* | 44813 | 372844 |
|  Primoris Services Corp. | 61943 | 8506632 |
|  Southland Holdings, Inc.\* | 7787 | 33406 |
|  Sterling Infrastructure, Inc.(x)\* | 34120 | 11589882 |
|  Tutor Perini Corp.\* | 50875 | 3336891 |
|  |  | 77465732 |
|  ***Electrical Equipment (2.2%)*** |  |  |
|  Allient, Inc. | 15893 | 711212 |
|  American Superconductor Corp.\* | 49813 | 2958394 |
|  Amprius Technologies, Inc.(x)\* | 107019 | 1125840 |
|  Array Technologies, Inc.(x)\* | 177306 | 1445044 |
|  Atkore, Inc. | 38283 | 2401875 |
|  Bloom Energy Corp., Class A\* | 245254 | 20741131 |
|  Complete Solaria, Inc.(x)\* | 63707 | 112124 |
|  EnerSys | 43982 | 4968207 |
|  Enovix Corp.(x)\* | 191469 | 1908946 |
|  Eos Energy Enterprises, Inc.(x)\* | 290000 | 3303100 |
|  Fluence Energy, Inc., Class A(x)\* | 87998 | 950378 |
|  Hyliion Holdings Corp.(x)\* | 161829 | 318803 |
|  KULR Technology Group, Inc.(x)\* | 37985 | 158018 |
|  LSI Industries, Inc. | 31824 | 751365 |
|  NANO Nuclear Energy, Inc.(x)\* | 35412 | 1365487 |
|  Net Power, Inc.(x)\* | 38666 | 116385 |
|  NEXTracker, Inc., Class A\* | 166776 | 12339756 |
|  NuScale Power Corp., Class A(x)\* | 144778 | 5212008 |
|  Plug Power, Inc.(x)\* | 1235382 | 2878440 |
|  Powell Industries, Inc.(x) | 10912 | 3326087 |
|  Power Solutions International, Inc.\* | 7567 | 743231 |
|  Preformed Line Products Co. | 2797 | 548631 |
|  Shoals Technologies Group, Inc., Class A\* | 194796 | 1443438 |
|  SKYX Platforms Corp.(x)\* | 61479 | 68856 |
|  Sunrun, Inc.\* | 239118 | 4134350 |
|  T1 Energy, Inc.(x)\* | 132279 | 288368 |
|  Thermon Group Holdings, Inc.\* | 36772 | 982548 |
|  Vicor Corp.\* | 27147 | 1349749 |
|  |  | 76651771 |
|  ***Ground Transportation (0.3%)*** |  |  |
|  ArcBest Corp. | 25894 | 1809214 |
|  Covenant Logistics Group, Inc., Class A | 18784 | 406861 |
|  FTAI Infrastructure, Inc.(x) | 125574 | 547503 |
|  Heartland Express, Inc. | 47355 | 396835 |
|  Hertz Global Holdings, Inc.(x)\* | 138349 | 940773 |
|  Marten Transport Ltd. | 65903 | 702526 |
|  PAMT Corp.\* | 6775 | 77235 |
|  Proficient Auto Logistics, Inc.(x)\* | 27798 | 191528 |
|  RXO, Inc.\* | 184746 | 2841394 |
|  Universal Logistics Holdings, Inc.(x) | 7967 | 186746 |
|  Werner Enterprises, Inc. | 65356 | 1720170 |
|  |  | 9820785 |
|  ***Industrial Conglomerates (0.0%)†*** |  |  |
|  Brookfield Business Corp., Class A | 26617 | 892468 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***Machinery (3.5%)*** |  |  |
|  3D Systems Corp.(x)\* | 148766 | $431421 |
|  Aebi Schmidt Holding AG | 40875 | 509711 |
|  AirJoule Technologies Corp.\* | 21138 | 99137 |
|  Alamo Group, Inc. | 11750 | 2243075 |
|  Albany International Corp., Class A | 34037 | 1814172 |
|  Astec Industries, Inc. | 25764 | 1240021 |
|  Atmus Filtration Technologies, Inc. | 95553 | 4308485 |
|  Blue Bird Corp.\* | 36154 | 2080663 |
|  Chart Industries, Inc.\* | 51662 | 10340149 |
|  Columbus McKinnon Corp. | 32955 | 472575 |
|  Douglas Dynamics, Inc. | 26293 | 821919 |
|  Eastern Co. (The) | 6815 | 159880 |
|  Energy Recovery, Inc.\* | 62237 | 959695 |
|  Enerpac Tool Group Corp., Class A | 61703 | 2529823 |
|  Enpro, Inc. | 24138 | 5455188 |
|  ESCO Technologies, Inc. | 29750 | 6280522 |
|  Federal Signal Corp. | 68677 | 8171876 |
|  Franklin Electric Co., Inc. | 45627 | 4343690 |
|  Gencor Industries, Inc.\* | 12254 | 179276 |
|  Gorman-Rupp Co. (The) | 24096 | 1118295 |
|  Graham Corp.\* | 11875 | 651937 |
|  Greenbrier Cos., Inc. (The) | 34213 | 1579614 |
|  Helios Technologies, Inc. | 37532 | 1956543 |
|  Hillenbrand, Inc. | 81758 | 2210736 |
|  Hillman Solutions Corp.\* | 228793 | 2100320 |
|  Hyster-Yale, Inc. | 14087 | 519247 |
|  JBT Marel Corp. | 59703 | 8385286 |
|  Kadant, Inc. | 13437 | 3998582 |
|  Kennametal, Inc. | 85715 | 1794015 |
|  L B Foster Co., Class A\* | 12107 | 326284 |
|  Lindsay Corp. | 12246 | 1721298 |
|  Luxfer Holdings plc | 30251 | 420489 |
|  Manitowoc Co., Inc. (The)\* | 40062 | 401021 |
|  Mayville Engineering Co., Inc.\* | 16781 | 230907 |
|  Microvast Holdings, Inc.(x)\* | 230392 | 887009 |
|  Miller Industries, Inc. | 12912 | 521903 |
|  Mueller Water Products, Inc., Class A | 178336 | 4551135 |
|  Omega Flex, Inc. | 3834 | 119563 |
|  Palladyne AI Corp.(x)\* | 29571 | 254015 |
|  Park-Ohio Holdings Corp. | 10361 | 220068 |
|  Proto Labs, Inc.\* | 27817 | 1391685 |
|  REV Group, Inc. | 55653 | 3153856 |
|  Richtech Robotics, Inc., Class B(x)\* | 80118 | 343706 |
|  SPX Technologies, Inc.\* | 55139 | 10298862 |
|  Standex International Corp. | 13740 | 2911506 |
|  Tennant Co. | 21115 | 1711582 |
|  Terex Corp.(x) | 73599 | 3775629 |
|  Titan International, Inc.\* | 57475 | 434511 |
|  Trinity Industries, Inc. | 92626 | 2597233 |
|  Wabash National Corp. | 47514 | 468963 |
|  Watts Water Technologies, Inc., Class A | 31484 | 8792852 |
|  Worthington Enterprises, Inc. | 35634 | 1977331 |
|  |  | 124267261 |
|  ***Marine Transportation (0.2%)*** |  |  |
|  Costamare Bulkers Holdings Ltd.\* | 10130 | 145568 |
|  Costamare, Inc. | 50653 | 603277 |
|  Genco Shipping & Trading Ltd. | 38627 | 687561 |
|  Himalaya Shipping Ltd. | 33890 | 278915 |
|  Matson, Inc. | 37147 | 3662323 |
|  Pangaea Logistics Solutions Ltd. | 38569 | 195930 |
|  Safe Bulkers, Inc. | 68864 | 305756 |
|  |  | 5879330 |
|  ***Passenger Airlines (0.5%)*** |  |  |
|  Allegiant Travel Co.\* | 17051 | 1036189 |
|  Frontier Group Holdings, Inc.(x)\* | 98610 | 435363 |
|  JetBlue Airways Corp.(x)\* | 375320 | 1846574 |
|  Joby Aviation, Inc.(x)\* | 526938 | 8504779 |
|  SkyWest, Inc.\* | 46041 | 4632646 |
|  Strata Critical Medical, Inc.\* | 69831 | 353345 |
|  Sun Country Airlines Holdings, Inc.\* | 59682 | 704845 |
|  |  | 17513741 |
|  ***Professional Services (1.8%)*** |  |  |
|  Acuren Corp.\* | 195178 | 2597819 |
|  Alight, Inc., Class A | 501478 | 1634818 |
|  Asure Software, Inc.\* | 27318 | 224008 |
|  Barrett Business Services, Inc. | 29141 | 1291529 |
|  BlackSky Technology, Inc., Class A(x)\* | 35891 | 723204 |
|  CBIZ, Inc.(x)\* | 56372 | 2985461 |
|  Conduent, Inc.\* | 184551 | 516743 |
|  CRA International, Inc. | 7479 | 1559596 |
|  CSG Systems International, Inc. | 31948 | 2056812 |
|  Exponent, Inc. | 57537 | 3997671 |
|  First Advantage Corp.(x)\* | 92021 | 1416203 |
|  Forrester Research, Inc.\* | 13950 | 147870 |
|  Franklin Covey Co.\* | 12569 | 243964 |
|  Heidrick & Struggles International, Inc. | 24113 | 1200104 |
|  HireQuest, Inc.(x) | 5706 | 54892 |
|  Huron Consulting Group, Inc.\* | 19472 | 2857905 |
|  IBEX Holdings Ltd.\* | 11748 | 476029 |
|  ICF International, Inc. | 20730 | 1923744 |
|  Innodata, Inc.(x)\* | 35366 | 2725658 |
|  Insperity, Inc. | 41801 | 2056609 |
|  Kelly Services, Inc., Class A | 37492 | 491895 |
|  Kforce, Inc. | 21241 | 636805 |
|  Korn Ferry | 59281 | 4148484 |
|  Legalzoom.com, Inc.\* | 135761 | 1409199 |
|  Maximus, Inc. | 64717 | 5913192 |
|  Mistras Group, Inc.\* | 20197 | 198738 |
|  Planet Labs PBC\* | 266018 | 3452914 |
|  RCM Technologies, Inc.\* | 5031 | 133573 |
|  Resolute Holdings Management, Inc.(x)\* | 5165 | 372655 |
|  Resources Connection, Inc. | 39412 | 199031 |
|  Skillsoft Corp.(x)\* | 4494 | 58512 |
|  Spire Global, Inc.(x)\* | 32018 | 351878 |
|  TriNet Group, Inc. | 34006 | 2274661 |
|  TrueBlue, Inc.\* | 34069 | 208843 |
|  TTEC Holdings, Inc.\* | 22848 | 76769 |
|  Upwork, Inc.\* | 140318 | 2605705 |
|  Verra Mobility Corp., Class A\* | 182845 | 4516272 |
|  Willdan Group, Inc.\* | 16169 | 1563381 |
|  WNS Holdings Ltd.\* | 42987 | 3278619 |
|  |  | 62581765 |
|  ***Trading Companies & Distributors (1.0%)*** |  |  |
|  Alta Equipment Group, Inc. | 25128 | 181927 |
|  BlueLinx Holdings, Inc.\* | 9108 | 665613 |
|  Boise Cascade Co. | 42958 | 3321513 |
|  Custom Truck One Source, Inc.(x)\* | 69075 | 443461 |
|  Distribution Solutions Group, Inc.\* | 11984 | 360479 |
|  DNOW, Inc.\* | 118751 | 1810953 |
|  DXP Enterprises, Inc.\* | 15160 | 1805101 |
|  EVI Industries, Inc. | 6220 | 196614 |
|  GATX Corp. | 41022 | 7170646 |
|  Global Industrial Co. | 16380 | 600655 |
|  Herc Holdings, Inc. | 37273 | 4348268 |
|  Hudson Technologies, Inc.\* | 46297 | 459729 |
|  Karat Packaging, Inc. | 7805 | 196764 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  McGrath RentCorp | 27893 | $3271849 |
|  MRC Global, Inc.\* | 95241 | 1373375 |
|  NPK International, Inc.\* | 88343 | 999159 |
|  Rush Enterprises, Inc., Class A | 69374 | 3709428 |
|  Rush Enterprises, Inc., Class B | 10384 | 596249 |
|  Titan Machinery, Inc.\* | 24122 | 403802 |
|  Transcat, Inc.\* | 10538 | 771382 |
|  Willis Lease Finance Corp. | 3245 | 444857 |
|  Xometry, Inc., Class A(x)\* | 49703 | 2707322 |
|  |  | 35839146 |
|  ***Transportation Infrastructure (0.0%)†*** |  |  |
|  Sky Harbour Group Corp.(x)\* | 23908 | 235972 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 574626106 |
|  **Information Technology (14.2%)** |  |  |
|  ***Communications Equipment (0.8%)*** |  |  |
|  ADTRAN Holdings, Inc.\* | 88562 | 830711 |
|  Applied Optoelectronics, Inc.(x)\* | 62652 | 1624566 |
|  Aviat Networks, Inc.\* | 13391 | 307056 |
|  BK Technologies Corp.\* | 3039 | 256735 |
|  Calix, Inc.\* | 67306 | 4130569 |
|  Clearfield, Inc.(x)\* | 14023 | 482111 |
|  CommScope Holding Co., Inc.\* | 243613 | 3771129 |
|  Digi International, Inc.\* | 42283 | 1541638 |
|  Extreme Networks, Inc.\* | 150474 | 3107288 |
|  Harmonic, Inc.\* | 131311 | 1336746 |
|  Inseego Corp.(x)\* | 13543 | 202739 |
|  NETGEAR, Inc.\* | 32456 | 1051250 |
|  NetScout Systems, Inc.\* | 81925 | 2116123 |
|  Ribbon Communications, Inc.\* | 110603 | 420291 |
|  Viasat, Inc.\* | 134399 | 3937891 |
|  Viavi Solutions, Inc.\* | 251059 | 3185939 |
|  |  | 28302782 |
|  ***Electronic Equipment, Instruments & Components (3.0%)*** |  |  |
|  908 Devices, Inc.(x)\* | 30619 | 268222 |
|  Advanced Energy Industries, Inc. | 43059 | 7326058 |
|  Aeva Technologies, Inc.\* | 35772 | 518694 |
|  Arlo Technologies, Inc.\* | 112194 | 1901688 |
|  Badger Meter, Inc. | 33877 | 6049755 |
|  Bel Fuse, Inc., Class A | 1692 | 196864 |
|  Bel Fuse, Inc., Class B | 11908 | 1679266 |
|  Belden, Inc. | 45317 | 5450276 |
|  Benchmark Electronics, Inc. | 41551 | 1601791 |
|  Climb Global Solutions, Inc. | 4539 | 612039 |
|  CTS Corp. | 32448 | 1295973 |
|  Daktronics, Inc.\* | 44203 | 924727 |
|  ePlus, Inc. | 30170 | 2142372 |
|  Evolv Technologies Holdings, Inc.\* | 135976 | 1026619 |
|  Fabrinet\* | 41301 | 15059171 |
|  Frequency Electronics, Inc.(x)\* | 7289 | 247170 |
|  Insight Enterprises, Inc.\* | 33031 | 3746046 |
|  Itron, Inc.\* | 51916 | 6466657 |
|  Kimball Electronics, Inc.\* | 27166 | 811177 |
|  Knowles Corp.\* | 96053 | 2238995 |
|  Methode Electronics, Inc. | 38671 | 291966 |
|  MicroVision, Inc.(x)\* | 282073 | 349771 |
|  Mirion Technologies, Inc., Class A(x)\* | 267780 | 6228563 |
|  M-Tron Industries, Inc.\* | 2706 | 150129 |
|  Napco Security Technologies, Inc. | 39311 | 1688407 |
|  Neonode, Inc.(x)\* | 11915 | 41583 |
|  nLight, Inc.\* | 55959 | 1658065 |
|  Novanta, Inc.\* | 40795 | 4085619 |
|  OSI Systems, Inc.\* | 18368 | 4578040 |
|  Ouster, Inc.\* | 59171 | 1600576 |
|  PAR Technology Corp.(x)\* | 45235 | 1790401 |
|  PC Connection, Inc. | 12241 | 758820 |
|  Plexus Corp.\* | 30773 | 4452545 |
|  Powerfleet, Inc.(x)\* | 145078 | 760209 |
|  Red Cat Holdings, Inc.(x)\* | 96764 | 1001507 |
|  Richardson Electronics Ltd.(x) | 13267 | 129884 |
|  Rogers Corp.\* | 20911 | 1682499 |
|  Sanmina Corp.\* | 59860 | 6890485 |
|  ScanSource, Inc.\* | 23854 | 1049337 |
|  TTM Technologies, Inc.\* | 115234 | 6637478 |
|  Vishay Intertechnology, Inc. | 137433 | 2102725 |
|  Vishay Precision Group, Inc.\* | 14257 | 456937 |
|  Vuzix Corp.(x)\* | 73036 | 228603 |
|  |  | 108177709 |
|  ***IT Services (0.5%)*** |  |  |
|  Applied Digital Corp.\* | 244703 | 5613487 |
|  ASGN, Inc.\* | 48860 | 2313521 |
|  Backblaze, Inc., Class A\* | 61757 | 573105 |
|  BigBear.ai Holdings, Inc.(x)\* | 325305 | 2120989 |
|  Commerce.com, Inc.\* | 78889 | 393656 |
|  Crexendo, Inc.\* | 15788 | 102622 |
|  CSP, Inc.(x) | 7081 | 81785 |
|  DigitalOcean Holdings, Inc.\* | 77898 | 2660996 |
|  Fastly, Inc., Class A\* | 160124 | 1369060 |
|  Grid Dynamics Holdings, Inc.\* | 77596 | 598265 |
|  Hackett Group, Inc. (The) | 29677 | 564160 |
|  Information Services Group, Inc. | 38737 | 222738 |
|  Rackspace Technology, Inc.\* | 108296 | 152697 |
|  TSS, Inc.(x)\* | 21199 | 383914 |
|  Tucows, Inc., Class A(x)\* | 8402 | 155899 |
|  Unisys Corp.\* | 77716 | 303092 |
|  VTEX, Class A(x)\* | 65744 | 287959 |
|  |  | 17897945 |
|  ***Semiconductors & Semiconductor Equipment (3.2%)*** |  |  |
|  ACM Research, Inc., Class A\* | 58774 | 2299827 |
|  Aehr Test Systems(x)\* | 32121 | 967163 |
|  Aeluma, Inc.(x)\* | 10861 | 174862 |
|  Alpha & Omega Semiconductor Ltd.\* | 28824 | 805919 |
|  Ambarella, Inc.\* | 46484 | 3835860 |
|  Ambiq Micro, Inc.\* | 4940 | 147805 |
|  Atomera, Inc.(x)\* | 33223 | 146846 |
|  Axcelis Technologies, Inc.\* | 36713 | 3584657 |
|  Blaize Holdings, Inc.(x)\* | 78464 | 270701 |
|  CEVA, Inc.\* | 27111 | 716002 |
|  Cohu, Inc.\* | 53443 | 1086496 |
|  Credo Technology Group Holding Ltd.\* | 169281 | 24649006 |
|  Diodes, Inc.\* | 52059 | 2770059 |
|  FormFactor, Inc.\* | 88292 | 3215595 |
|  Ichor Holdings Ltd.\* | 40250 | 705180 |
|  Impinj, Inc.(x)\* | 29645 | 5358334 |
|  indie Semiconductor, Inc., Class A(x)\* | 224548 | 913910 |
|  Kopin Corp.(x)\* | 169402 | 411647 |
|  Kulicke & Soffa Industries, Inc. | 58043 | 2358868 |
|  MaxLinear, Inc., Class A\* | 95142 | 1529883 |
|  Navitas Semiconductor Corp., Class A(x)\* | 155685 | 1124046 |
|  NVE Corp. | 5546 | 361987 |
|  PDF Solutions, Inc.\* | 35989 | 929236 |
|  Penguin Solutions, Inc.(x)\* | 59202 | 1555829 |
|  Photronics, Inc.\* | 66211 | 1519542 |
|  Power Integrations, Inc. | 64129 | 2578627 |
|  Rambus, Inc.\* | 123301 | 12847964 |
|  Rigetti Computing, Inc.(x)\* | 364803 | 10867481 |
|  Semtech Corp.\* | 99588 | 7115563 |
|  Silicon Laboratories, Inc.\* | 36787 | 4823879 |
|  SiTime Corp.\* | 24363 | 7340816 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SkyWater Technology, Inc.\* | 29425 | $549070 |
|  Synaptics, Inc.\* | 43553 | 2976412 |
|  Ultra Clean Holdings, Inc.\* | 51457 | 1402203 |
|  Veeco Instruments, Inc.\* | 66435 | 2021617 |
|  |  | 113962892 |
|  ***Software (5.9%)*** |  |  |
|  8x8, Inc.\* | 155861 | 330425 |
|  A10 Networks, Inc. | 81995 | 1488209 |
|  ACI Worldwide, Inc.\* | 120907 | 6380262 |
|  Adeia, Inc. | 126665 | 2127972 |
|  Agilysys, Inc.\* | 29531 | 3108138 |
|  Airship AI Holdings, Inc.(x)\* | 23179 | 119835 |
|  Alarm.com Holdings, Inc.\* | 53971 | 2864781 |
|  Alkami Technology, Inc.(x)\* | 77030 | 1913425 |
|  Amplitude, Inc., Class A\* | 101527 | 1088369 |
|  Appian Corp., Class A\* | 44655 | 1365103 |
|  Arteris, Inc.\* | 32653 | 329795 |
|  Asana, Inc., Class A(x)\* | 98636 | 1317777 |
|  AudioEye, Inc.\* | 8655 | 119958 |
|  AvePoint, Inc.\* | 151424 | 2272874 |
|  Bit Digital, Inc.\* | 359874 | 1079622 |
|  Bitdeer Technologies Group, Class A\* | 104739 | 1789990 |
|  Blackbaud, Inc.\* | 43648 | 2807003 |
|  BlackLine, Inc.\* | 59478 | 3158282 |
|  Blend Labs, Inc., Class A\* | 247206 | 902302 |
|  Box, Inc., Class A\* | 160818 | 5189597 |
|  Braze, Inc., Class A\* | 91108 | 2591112 |
|  C3.ai, Inc., Class A(x)\* | 141110 | 2446847 |
|  Cerence, Inc.(x)\* | 45294 | 564363 |
|  Cipher Mining, Inc.(x)\* | 303163 | 3816822 |
|  Cleanspark, Inc.(x)\* | 317077 | 4597617 |
|  Clear Secure, Inc., Class A | 95643 | 3192563 |
|  Clearwater Analytics Holdings, Inc., Class A\* | 282027 | 5082127 |
|  Commvault Systems, Inc.\* | 51140 | 9654209 |
|  Consensus Cloud Solutions, Inc.\* | 22613 | 664144 |
|  Core Scientific, Inc.(x)\* | 325715 | 5843327 |
|  CoreCard Corp.\* | 6209 | 167146 |
|  CS Disco, Inc.\* | 25565 | 165150 |
|  Daily Journal Corp.(x)\* | 1478 | 687477 |
|  Digimarc Corp.(x)\* | 17623 | 172177 |
|  Digital Turbine, Inc.\* | 119231 | 763078 |
|  Domo, Inc., Class B(x)\* | 35749 | 566264 |
|  D-Wave Quantum, Inc.(x)\* | 352790 | 8717441 |
|  eGain Corp.\* | 18759 | 163391 |
|  EverCommerce, Inc.(x)\* | 19944 | 221977 |
|  Expensify, Inc., Class A\* | 66695 | 123386 |
|  Five9, Inc.\* | 86263 | 2087565 |
|  Freshworks, Inc., Class A\* | 229166 | 2697284 |
|  Hut 8 Corp.\* | 107833 | 3753667 |
|  I3 Verticals, Inc., Class A(x)\* | 26489 | 859833 |
|  Intapp, Inc.\* | 64747 | 2648152 |
|  InterDigital, Inc. | 29638 | 10231927 |
|  Jamf Holding Corp.\* | 80618 | 862613 |
|  Kaltura, Inc.\* | 100996 | 145434 |
|  Life360, Inc.(x)\* | 18805 | 1998972 |
|  LiveRamp Holdings, Inc.\* | 74810 | 2030343 |
|  MARA Holdings, Inc.(x)\* | 424517 | 7751680 |
|  Mercurity Fintech Holding, Inc.(x)\* | 34426 | 846191 |
|  Meridianlink, Inc.\* | 38073 | 758795 |
|  Mitek Systems, Inc.(x)\* | 52867 | 516511 |
|  N-able, Inc.\* | 83073 | 647969 |
|  NCR Voyix Corp.\* | 158793 | 1992852 |
|  NextNav, Inc.(x)\* | 98827 | 1413226 |
|  ON24, Inc.\* | 40927 | 234102 |
|  OneSpan, Inc. | 42090 | 668810 |
|  Ooma, Inc.\* | 28867 | 346115 |
|  Pagaya Technologies Ltd., Class A\* | 52521 | 1559348 |
|  PagerDuty, Inc.\* | 98935 | 1634406 |
|  Porch Group, Inc.\* | 91088 | 1528457 |
|  Progress Software Corp.\* | 49709 | 2183716 |
|  PROS Holdings, Inc.(x)\* | 51005 | 1168525 |
|  Q2 Holdings, Inc.\* | 71088 | 5146060 |
|  Qualys, Inc.\* | 41767 | 5527027 |
|  Rapid7, Inc.\* | 74400 | 1395000 |
|  Red Violet, Inc. | 13102 | 684580 |
|  ReposiTrak, Inc.(x) | 13518 | 200337 |
|  Rezolve AI plc(x)\* | 165939 | 826376 |
|  Rimini Street, Inc.\* | 62434 | 292191 |
|  Riot Platforms, Inc.(x)\* | 398523 | 7583893 |
|  Sapiens International Corp. NV | 35004 | 1505172 |
|  SEMrush Holdings, Inc., Class A(x)\* | 53443 | 378376 |
|  Silvaco Group, Inc.(x)\* | 7055 | 38168 |
|  SoundHound AI, Inc., Class A(x)\* | 418392 | 6727743 |
|  SoundThinking, Inc.\* | 11012 | 132805 |
|  Sprinklr, Inc., Class A\* | 129557 | 1000180 |
|  Sprout Social, Inc., Class A\* | 60323 | 779373 |
|  SPS Commerce, Inc.\* | 43462 | 4526133 |
|  Synchronoss Technologies, Inc.\* | 10645 | 64722 |
|  Telos Corp.\* | 66492 | 454805 |
|  Tenable Holdings, Inc.\* | 138886 | 4049916 |
|  Terawulf, Inc.(x)\* | 324049 | 3700640 |
|  Varonis Systems, Inc.\* | 126218 | 7253748 |
|  Verint Systems, Inc.\* | 68370 | 1384493 |
|  Vertex, Inc., Class A(x)\* | 73049 | 1810885 |
|  Viant Technology, Inc., Class A\* | 17881 | 154313 |
|  Weave Communications, Inc.\* | 67882 | 453452 |
|  WM Technology, Inc.\* | 91551 | 106199 |
|  Workiva, Inc., Class A\* | 57423 | 4942972 |
|  Xperi, Inc.\* | 51861 | 336059 |
|  Yext, Inc.\* | 112931 | 962172 |
|  Zeta Global Holdings Corp., Class A\* | 212747 | 4227283 |
|  |  | 207165903 |
|  ***Technology Hardware, Storage & Peripherals (0.8%)*** |  |  |
|  CompoSecure, Inc., Class A(x)\* | 51444 | 1071064 |
|  Corsair Gaming, Inc.\* | 55180 | 492206 |
|  CPI Card Group, Inc.\* | 7269 | 110053 |
|  Diebold Nixdorf, Inc.\* | 28917 | 1649137 |
|  Eastman Kodak Co.(x)\* | 74940 | 480365 |
|  Immersion Corp. | 36399 | 267169 |
|  IonQ, Inc.(x)\* | 315893 | 19427419 |
|  Quantum Computing, Inc.(x)\* | 153103 | 2818626 |
|  Turtle Beach Corp.\* | 17406 | 276755 |
|  Xerox Holdings Corp. | 134901 | 507228 |
|  |  | 27100022 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 502607253 |
|  **Materials (3.9%)** |  |  |
|  ***Chemicals (1.5%)*** |  |  |
|  AdvanSix, Inc. | 30661 | 594210 |
|  American Vanguard Corp.\* | 30429 | 174662 |
|  Arq, Inc.(x)\* | 33798 | 241994 |
|  ASP Isotopes, Inc.(x)\* | 86660 | 833669 |
|  Aspen Aerogels, Inc.\* | 77003 | 535941 |
|  Avient Corp. | 104392 | 3439716 |
|  Balchem Corp. | 37511 | 5628901 |
|  Cabot Corp. | 61904 | 4707799 |
|  Chemours Co. (The) | 171151 | 2711032 |
|  Core Molding Technologies, Inc.\* | 10261 | 210864 |
|  Ecovyst, Inc.(x)\* | 133594 | 1170283 |
|  Flotek Industries, Inc.(x)\* | 16568 | 241893 |
|  Hawkins, Inc. | 22364 | 4086350 |
|  HB Fuller Co. | 62248 | 3690061 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Ingevity Corp.\* | 41310 | $2279899 |
|  Innospec, Inc. | 27988 | 2159554 |
|  Intrepid Potash, Inc.\* | 13175 | 402892 |
|  Koppers Holdings, Inc. | 23113 | 647164 |
|  Kronos Worldwide, Inc. | 24017 | 137858 |
|  LSB Industries, Inc.(x)\* | 61499 | 484612 |
|  Mativ Holdings, Inc. | 62998 | 712507 |
|  Minerals Technologies, Inc. | 35798 | 2223772 |
|  Orion SA | 65704 | 498036 |
|  Perimeter Solutions, Inc.\* | 159115 | 3562585 |
|  PureCycle Technologies, Inc.(x)\* | 146645 | 1928382 |
|  Quaker Chemical Corp. | 15820 | 2084285 |
|  Rayonier Advanced Materials, Inc.\* | 76030 | 548937 |
|  Sensient Technologies Corp. | 48331 | 4535864 |
|  Solesence, Inc.(x)\* | 19397 | 62458 |
|  Stepan Co. | 24867 | 1186156 |
|  Trinseo plc(x) | 36398 | 85535 |
|  Tronox Holdings plc | 137436 | 552493 |
|  Valhi, Inc.(x) | 3234 | 51033 |
|  |  | 52411397 |
|  ***Construction Materials (0.2%)*** |  |  |
|  Knife River Corp.\* | 65340 | 5022686 |
|  Smith-Midland Corp.\* | 3969 | 146456 |
|  Titan America SA(x) | 25854 | 386259 |
|  United States Lime & Minerals, Inc. | 12613 | 1659240 |
|  |  | 7214641 |
|  ***Containers & Packaging (0.2%)*** |  |  |
|  Ardagh Metal Packaging SA | 164396 | 655940 |
|  Greif, Inc., Class A | 29022 | 1734355 |
|  Greif, Inc., Class B | 5889 | 362821 |
|  Myers Industries, Inc. | 44290 | 750273 |
|  O-I Glass, Inc.\* | 174317 | 2260891 |
|  Ranpak Holdings Corp., Class A(x)\* | 57844 | 325083 |
|  TriMas Corp. | 37350 | 1443204 |
|  |  | 7532567 |
|  ***Metals & Mining (1.9%)*** |  |  |
|  Alpha Metallurgical Resources, Inc.\* | 13244 | 2173208 |
|  American Battery Technology Co.\* | 88117 | 428249 |
|  Ascent Industries Co.\* | 7675 | 98854 |
|  Caledonia Mining Corp. plc | 18608 | 673796 |
|  Century Aluminum Co.\* | 61417 | 1803203 |
|  Coeur Mining, Inc.\* | 732145 | 13735040 |
|  Commercial Metals Co. | 129263 | 7404185 |
|  Compass Minerals International, Inc.(x)\* | 40099 | 769901 |
|  Constellium SE\* | 161744 | 2406751 |
|  Contango ORE, Inc.\* | 10229 | 255009 |
|  Critical Metals Corp.(x)\* | 35105 | 218353 |
|  Dakota Gold Corp.\* | 99038 | 450623 |
|  Ferroglobe plc(x) | 134502 | 611984 |
|  Friedman Industries, Inc.(x) | 6021 | 131830 |
|  Hecla Mining Co. | 686074 | 8301495 |
|  Idaho Strategic Resources, Inc.(x)\* | 14256 | 481710 |
|  Ivanhoe Electric, Inc.\* | 100309 | 1258878 |
|  Kaiser Aluminum Corp. | 18601 | 1435253 |
|  Lifezone Metals Ltd.\* | 35054 | 192096 |
|  MAC Copper Ltd.\* | 69629 | 850170 |
|  Materion Corp. | 23412 | 2828404 |
|  Metallus, Inc.\* | 43702 | 722394 |
|  NioCorp Developments Ltd.(x)\* | 77696 | 519009 |
|  Novagold Resources, Inc.\* | 345714 | 3042283 |
|  Olympic Steel, Inc. | 11679 | 355626 |
|  Perpetua Resources Corp.\* | 85860 | 1736948 |
|  Ramaco Resources, Inc., Class A(x)\* | 33146 | 1100116 |
|  Ryerson Holding Corp. | 31377 | 717278 |
|  SSR Mining, Inc.(x)\* | 233040 | 5690837 |
|  SunCoke Energy, Inc. | 99697 | 813527 |
|  Tredegar Corp.\* | 30697 | 246497 |
|  United States Antimony Corp.(x)\* | 105811 | 656028 |
|  US Gold Corp.\* | 12518 | 206297 |
|  US Goldmining, Inc.\* | 2994 | 38488 |
|  Vox Royalty Corp.(x) | 38338 | 164853 |
|  Warrior Met Coal, Inc. | 59586 | 3792053 |
|  Worthington Steel, Inc. | 37065 | 1126405 |
|  |  | 67437631 |
|  ***Paper & Forest Products (0.1%)*** |  |  |
|  Clearwater Paper Corp.\* | 18714 | 388503 |
|  Magnera Corp.\* | 38359 | 449567 |
|  Sylvamo Corp. | 38756 | 1713790 |
|  |  | 2551860 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 137148096 |
|  **Real Estate (5.3%)** |  |  |
|  ***Diversified REITs (0.5%)*** |  |  |
|  Alexander & Baldwin, Inc. (REIT) | 85913 | 1562757 |
|  Alpine Income Property Trust, Inc. (REIT) | 14322 | 202943 |
|  American Assets Trust, Inc. (REIT) | 61290 | 1245413 |
|  Armada Hoffler Properties, Inc. (REIT) | 95121 | 666798 |
|  Broadstone Net Lease, Inc. (REIT) | 219297 | 3918837 |
|  CTO Realty Growth, Inc. (REIT) | 35998 | 586767 |
|  Essential Properties Realty Trust, Inc. (REIT) | 228835 | 6810130 |
|  Gladstone Commercial Corp. (REIT) | 54314 | 669149 |
|  Global Net Lease, Inc. (REIT)(x) | 233757 | 1900444 |
|  Modiv Industrial, Inc. (REIT), Class C | 9468 | 138612 |
|  NexPoint Diversified Real Estate Trust (REIT) | 41526 | 153231 |
|  One Liberty Properties, Inc. (REIT) | 20839 | 460959 |
|  |  | 18316040 |
|  ***Health Care REITs (0.9%)*** |  |  |
|  American Healthcare REIT, Inc. (REIT) | 183045 | 7689720 |
|  CareTrust REIT, Inc. (REIT) | 243625 | 8448915 |
|  Community Healthcare Trust, Inc. (REIT) | 31334 | 479410 |
|  Diversified Healthcare Trust (REIT) | 253761 | 1119086 |
|  Global Medical REIT, Inc. (REIT)(x) | 15065 | 507841 |
|  LTC Properties, Inc. (REIT) | 51778 | 1908537 |
|  National Health Investors, Inc. (REIT) | 53193 | 4228844 |
|  Sabra Health Care REIT, Inc. (REIT) | 273585 | 5099624 |
|  Sila Realty Trust, Inc. (REIT) | 64600 | 1621460 |
|  Strawberry Fields REIT, Inc. (REIT) | 9849 | 121143 |
|  Universal Health Realty Income Trust (REIT) | 15174 | 594366 |
|  |  | 31818946 |
|  ***Hotel & Resort REITs (0.5%)*** |  |  |
|  Apple Hospitality REIT, Inc. (REIT) | 257043 | 3087087 |
|  Braemar Hotels & Resorts, Inc. (REIT)(x) | 68867 | 188007 |
|  Chatham Lodging Trust (REIT) | 56844 | 381423 |
|  DiamondRock Hospitality Co. (REIT) | 247404 | 1969336 |
|  Pebblebrook Hotel Trust (REIT)(x) | 139025 | 1583495 |
|  RLJ Lodging Trust (REIT)(x) | 174727 | 1258034 |
|  Ryman Hospitality Properties, Inc. (REIT) | 70756 | 6339030 |
|  Service Properties Trust (REIT)(x) | 191709 | 519531 |
|  Summit Hotel Properties, Inc. (REIT) | 128345 | 704614 |
|  Sunstone Hotel Investors, Inc. (REIT) | 217241 | 2035548 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number<br>of Shares** | **Value**<br>**(Note 1)** |
|  Xenia Hotels & Resorts, Inc. (REIT) | 112718 | $1546491 |
|  |  | 19612596 |
|  ***Industrial REITs (0.4%)*** |  |  |
|  Industrial Logistics Properties Trust (REIT) | 64477 | 375901 |
|  Innovative Industrial Properties, Inc. (REIT) | 31522 | 1688949 |
|  LXP Industrial Trust (REIT) | 332692 | 2980920 |
|  Plymouth Industrial REIT, Inc. (REIT) | 45915 | 1025282 |
|  Terreno Realty Corp. (REIT) | 117168 | 6649284 |
|  |  | 12720336 |
|  ***Office REITs (0.6%)*** |  |  |
|  Brandywine Realty Trust (REIT) | 204021 | 850767 |
|  City Office REIT, Inc. (REIT) | 45185 | 314488 |
|  COPT Defense Properties (REIT) | 131014 | 3807267 |
|  Douglas Emmett, Inc. (REIT) | 147731 | 2300172 |
|  Easterly Government Properties, Inc. (REIT), Class A | 46374 | 1063356 |
|  Empire State Realty Trust, Inc. (REIT), Class A | 162386 | 1243877 |
|  Franklin Street Properties Corp. (REIT) | 98012 | 156819 |
|  Hudson Pacific Properties, Inc. (REIT)\* | 417004 | 1150931 |
|  JBG SMITH Properties (REIT) | 71252 | 1585357 |
|  NET Lease Office Properties (REIT)(x) | 18099 | 536816 |
|  Paramount Group, Inc. (REIT)\* | 219302 | 1434235 |
|  Peakstone Realty Trust (REIT) | 42511 | 557744 |
|  Piedmont Realty Trust, Inc. (REIT) | 143733 | 1293597 |
|  Postal Realty Trust, Inc. (REIT), Class A | 25972 | 407501 |
|  SL Green Realty Corp. (REIT) | 81967 | 4902446 |
|  |  | 21605373 |
|  ***Real Estate Management & Development (0.6%)*** |  |  |
|  American Realty Investors, Inc.(x)\* | 1937 | 32406 |
|  Anywhere Real Estate, Inc.\* | 125038 | 1324152 |
|  Compass, Inc., Class A\* | 531559 | 4268419 |
|  Cushman & Wakefield plc\* | 188369 | 2998835 |
|  Douglas Elliman, Inc.\* | 82683 | 236473 |
|  eXp World Holdings, Inc.(x) | 99389 | 1059487 |
|  Forestar Group, Inc.\* | 21998 | 584927 |
|  FRP Holdings, Inc.\* | 15026 | 366033 |
|  Kennedy-Wilson Holdings, Inc. | 140646 | 1170175 |
|  Marcus & Millichap, Inc. | 28288 | 830253 |
|  Maui Land & Pineapple Co., Inc.\* | 8767 | 163417 |
|  Newmark Group, Inc., Class A | 177760 | 3315224 |
|  RE/MAX Holdings, Inc., Class A\* | 20819 | 196323 |
|  Real Brokerage, Inc. (The)\* | 121424 | 507552 |
|  RMR Group, Inc. (The), Class A | 17999 | 283124 |
|  Seaport Entertainment Group, Inc.(x)\* | 7475 | 171327 |
|  St Joe Co. (The) | 44574 | 2205522 |
|  Stratus Properties, Inc.(x)\* | 6484 | 137201 |
|  Tejon Ranch Co.(x)\* | 24548 | 392277 |
|  Transcontinental Realty Investors, Inc.\* | 1627 | 75054 |
|  |  | 20318181 |
|  ***Residential REITs (0.3%)*** |  |  |
|  Apartment Investment and |  |  |
|  Management Co. (REIT), Class A | 148855 | 1180420 |
|  BRT Apartments Corp. (REIT) | 14012 | 219428 |
|  Centerspace (REIT) | 19792 | 1165749 |
|  Clipper Realty, Inc. (REIT) | 13165 | 50027 |
|  Elme Communities (REIT) | 102458 | 1727442 |
|  Independence Realty Trust, Inc. (REIT) | 272009 | 4458228 |
|  NexPoint Residential Trust, Inc. (REIT) | 26045 | 839170 |
|  UMH Properties, Inc. (REIT) | 91430 | 1357735 |
|  Veris Residential, Inc. (REIT) | 93576 | 1422355 |
|  |  | 12420554 |
|  ***Retail REITs (1.1%)*** |  |  |
|  Acadia Realty Trust (REIT) | 150281 | 3028162 |
|  Alexander's, Inc. (REIT)(x) | 2513 | 589273 |
|  CBL & Associates Properties, Inc. (REIT) | 20854 | 637715 |
|  Curbline Properties Corp. (REIT) | 114155 | 2545657 |
|  FrontView REIT, Inc. (REIT) | 20341 | 278875 |
|  Getty Realty Corp. (REIT) | 60950 | 1635288 |
|  InvenTrust Properties Corp. (REIT) | 89797 | 2569990 |
|  Kite Realty Group Trust (REIT) | 252784 | 5637083 |
|  Macerich Co. (The) (REIT) | 290181 | 5281294 |
|  NETSTREIT Corp. (REIT)(x) | 106727 | 1927490 |
|  Phillips Edison & Co., Inc. (REIT) | 145569 | 4997384 |
|  Saul Centers, Inc. (REIT) | 13709 | 436906 |
|  SITE Centers Corp. (REIT) | 58877 | 530482 |
|  Tanger, Inc. (REIT) | 128511 | 4348812 |
|  Urban Edge Properties (REIT) | 148344 | 3036602 |
|  Whitestone REIT (REIT) | 55242 | 678372 |
|  |  | 38159385 |
|  ***Specialized REITs (0.4%)*** |  |  |
|  Farmland Partners, Inc. (REIT)(x) | 50965 | 554499 |
|  Four Corners Property Trust, Inc. (REIT) | 114622 | 2796777 |
|  Gladstone Land Corp. (REIT)(x) | 40825 | 373957 |
|  Outfront Media, Inc. (REIT) | 160798 | 2945819 |
|  PotlatchDeltic Corp. (REIT) | 89808 | 3659676 |
|  Safehold, Inc. (REIT) | 65759 | 1018607 |
|  Smartstop Self Storage REIT, Inc. (REIT)(x) | 35151 | 1323084 |
|  |  | 12672419 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 187643830 |
|  **Utilities (3.0%)** |  |  |
|  ***Electric Utilities (1.1%)*** |  |  |
|  ALLETE, Inc. | 66892 | 4441629 |
|  Genie Energy Ltd., Class B | 24559 | 367157 |
|  Hawaiian Electric Industries, Inc.\* | 197145 | 2176481 |
|  MGE Energy, Inc. | 42221 | 3554164 |
|  Oklo, Inc., Class A(x)\* | 124224 | 13867125 |
|  Otter Tail Corp. | 44391 | 3638730 |
|  Portland General Electric Co. | 126437 | 5563228 |
|  TXNM Energy, Inc. | 111648 | 6313694 |
|  |  | 39922208 |
|  ***Gas Utilities (1.0%)*** |  |  |
|  Brookfield Infrastructure Corp., Class A(x) | 137321 | 5646640 |
|  Chesapeake Utilities Corp. | 26092 | 3514331 |
|  New Jersey Resources Corp. | 116374 | 5603408 |
|  Northwest Natural Holding Co. | 45669 | 2051908 |
|  ONE Gas, Inc. | 68746 | 5564301 |
|  RGC Resources, Inc. | 8957 | 200995 |
|  Southwest Gas Holdings, Inc. | 74234 | 5815492 |
|  Spire, Inc. | 67405 | 5494856 |
|  |  | 33891931 |
|  ***Independent Power and Renewable Electricity Producers (0.2%)*** |  |  |
|  Hallador Energy Co.\* | 36309 | 710567 |
|  Montauk Renewables, Inc.\* | 80237 | 161276 |
|  Ormat Technologies, Inc. | 69811 | 6719309 |
|  |  | 7591152 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***Multi-Utilities (0.4%)*** |  |  |
|  Avista Corp. | 91681 | $3466458 |
|  Black Hills Corp. | 83291 | 5129893 |
|  Northwestern Energy Group, Inc. | 70875 | 4153984 |
|  Unitil Corp. | 18832 | 901299 |
|  |  | 13651634 |
|  ***Water Utilities (0.3%)*** |  |  |
|  American States Water Co. | 43993 | 3225567 |
|  Cadiz, Inc.\* | 62207 | 293617 |
|  California Water Service Group | 67976 | 3119419 |
|  Consolidated Water Co. Ltd. | 17046 | 601383 |
|  Global Water Resources, Inc. | 13097 | 134899 |
|  H2O America | 35917 | 1749158 |
|  Middlesex Water Co. | 19730 | 1067788 |
|  Pure Cycle Corp.\* | 22979 | 254377 |
|  York Water Co. (The) | 16248 | 494264 |
|  |  | 10940472 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 105997397 |
|  **Total Common Stocks (91.8%)**<br>*(Cost $2,275,965,138)* |  | 3237140797 |
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Biotechnology (0.0%)†*** |  |  |
|  Aduro Biotech, Inc., CVR (r)\* | 23102 |  |
|  Chinook Therapeutics, Inc., CVR \* | 68139 | 13628 |
|  Icosavax, Inc., CVR \* | 31364 | 9409 |
|  Sanofi Aatd, Inc., CVR(r)\* | 38335 | 18615 |
|  |  | 41652 |
|  ***Life Sciences Tools & Services (0.0%)*** |  |  |
|  OmniAb, Inc., expiring 11/1/27(r)(x)\* | 14714 |  |
|  **Total Rights (0.0%)†**<br> *(Cost $25,908)* |  | 41652 |
|  | **Number of<br>Warrants** | **Value**<br>**(Note 1)** |
|  WARRANTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Health Care Equipment & Supplies (0.0%)†*** |  |  |
|  Pulse Biosciences, Inc.,expiring 6/27/29(x)\*<br>*(Cost $—)* | 1855 | 6214 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (7.9%)** |  |  |
|  Allspring Government Money Market Fund, Select Shares 4.07% (7 day yield) (xx) | 6000000 | 6000000 |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 1000000 | 1000000 |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 30000000 | 30000000 |
|  HSBC U.S. Government Money Market Fund, Intermediary Shares 4.03% (7 day yield) (xx) | 2000000 | 2000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 68250845 | 68250845 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 158625770 | 158689220 |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 2000000 | 2000000 |
|  Western Asset Institutional Government Reserves Fund, Institutional Shares 4.04% (7 day yield) (xx) | 10000000 | 10000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 277940065 |
|  **Total Short-Term Investments (7.9%)**<br> *(Cost $277,872,900)* |  | 277940065 |
|  **Total Investments in Securities (99.7%)**<br> *(Cost $2,553,863,946)* |  | 3515128728 |
|  **Other Assets Less Liabilities (0.3%)** |  | 10591762 |
|  **Net Assets (100%)** |  | $3525720490 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $1,821,881 or 0.1% of net assets.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $400,321,470. This was collateralized by $293,445,495 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.250%, maturing 9/30/25 – 5/15/55 and by cash of $119,264,327 of which $119,250,845 was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*CVR — Contingent Value Right* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/2000 MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional**<br>**Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation)<br>($)** |
|  **Long Contracts** |  |  |  |  |  |
|  Russell 2000 E-Mini Index | 2363 | 12/2025 | USD | 290117325 | 3282816 |
|  |  |  |  |  | 3282816 |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $90102912 | $— | $— | $90102912 |
|  Consumer Discretionary | 319470487 |  |  | 319470487 |
|  Consumer Staples | 64405557 |  |  | 64405557 |
|  Energy | 156552724 |  |  | 156552724 |
|  Financials | 581619824 |  | — (a) | 581619824 |
|  Health Care | 516966611 |  | — (a) | 516966611 |
|  Industrials | 574626106 |  |  | 574626106 |
|  Information Technology | 502607253 |  |  | 502607253 |
|  Materials | 137148096 |  |  | 137148096 |
|  Real Estate | 187643830 |  |  | 187643830 |
|  Utilities | 105997397 |  |  | 105997397 |
|  **Futures** | 3282816 |  |  | 3282816 |
|  **Rights** |  |  |  |  |
|  Health Care |  | 23037 | 18615 | 41652 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 277940065 |  |  | 277940065 |
|  **Warrants** |  |  |  |  |
|  Health Care |  | 6214 |  | 6214 |
|  **Total Assets** | $**3518363678** | $**29251** | $**18615** | $**3518411544** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**3518363678** | $**29251** | $**18615** | $**3518411544** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $1430405437 |
|  Aggregate gross unrealized depreciation | (466832151) |
|  Net unrealized appreciation | $963573286 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $2554838258 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Australia (6.3%)** |  |  |
|  ANZ Group Holdings Ltd. | 268203 | $5893776 |
|  APA Group | 112045 | 658365 |
|  Aristocrat Leisure Ltd. | 51015 | 2362289 |
|  ASX Ltd. | 17898 | 693888 |
|  BHP Group Ltd. | 454311 | 12785266 |
|  BlueScope Steel Ltd. | 37323 | 560366 |
|  Brambles Ltd. | 121438 | 1992817 |
|  CAR Group Ltd. | 33175 | 807391 |
|  Cochlear Ltd. | 5894 | 1089092 |
|  Coles Group Ltd. | 120090 | 1850706 |
|  Commonwealth Bank of Australia | 149543 | 16515189 |
|  Computershare Ltd. | 46404 | 1114304 |
|  Evolution Mining Ltd. | 177287 | 1270476 |
|  Fortescue Ltd. | 149062 | 1842489 |
|  Glencore plc | 904933 | 4157424 |
|  Goodman Group (REIT) | 180301 | 3910823 |
|  Insurance Australia Group Ltd. | 209775 | 1138227 |
|  Lottery Corp. Ltd. (The) | 211582 | 823222 |
|  Macquarie Group Ltd. | 32141 | 4664645 |
|  Medibank Pvt Ltd. | 247691 | 789984 |
|  National Australia Bank Ltd. | 271854 | 7941958 |
|  Northern Star Resources Ltd. | 121043 | 1900634 |
|  Origin Energy Ltd. | 151373 | 1252044 |
|  Pro Medicus Ltd. | 5301 | 1081380 |
|  Qantas Airways Ltd. | 61812 | 446639 |
|  QBE Insurance Group Ltd. | 132572 | 1806214 |
|  REA Group Ltd.(x) | 4693 | 717524 |
|  Rio Tinto Ltd. | 32785 | 2647299 |
|  Rio Tinto plc | 101834 | 6693751 |
|  Santos Ltd. | 298205 | 1327979 |
|  Scentre Group (REIT) | 455627 | 1230073 |
|  SGH Ltd. | 17495 | 578012 |
|  Sigma Healthcare Ltd. | 423374 | 832035 |
|  Sonic Healthcare Ltd. | 39977 | 567148 |
|  South32 Ltd. | 421977 | 765069 |
|  Stockland (REIT) | 229177 | 928076 |
|  Suncorp Group Ltd. | 97649 | 1309087 |
|  Telstra Group Ltd. | 364341 | 1162027 |
|  Transurban Group | 280428 | 2560717 |
|  Vicinity Ltd. (REIT) | 333111 | 555457 |
|  Washington H Soul Pattinson & Co. Ltd.(x) | 28926 | 736711 |
|  Wesfarmers Ltd. | 102414 | 6235951 |
|  Westpac Banking Corp. | 303871 | 7835754 |
|  WiseTech Global Ltd. | 18466 | 1102760 |
|  Woodside Energy Group Ltd. | 166642 | 2539449 |
|  Woolworths Group Ltd. | 106344 | 1878821 |
|  |  | 121553308 |
|  **Austria (0.2%)** |  |  |
|  Erste Group Bank AG | 27318 | 2668448 |
|  Mondi plc | 37419 | 515326 |
|  OMV AG | 12773 | 681125 |
|  Verbund AG | 6520 | 473833 |
|  |  | 4338732 |
|  **Belgium (0.8%)** |  |  |
|  Ageas SA/NV | 12482 | 863149 |
|  Anheuser-Busch InBev SA/NV | 87744 | 5233205 |
|  D'ieteren Group | 2008 | 375313 |
|  Elia Group SA/NV, Class B | 4348 | 501033 |
|  Groupe Bruxelles Lambert NV | 7528 | 672149 |
|  KBC Group NV | 20219 | 2408232 |
|  Lotus Bakeries NV | 37 | 348387 |
|  Sofina SA(x) | 1357 | 399890 |
|  Syensqo SA | 6266 | 505398 |
|  UCB SA | 11280 | 3112172 |
|  |  | 14418928 |
|  **Brazil (0.0%)†** |  |  |
|  Yara International ASA | 13919 | 508527 |
|  **Chile (0.1%)** |  |  |
|  Antofagasta plc | 36512 | 1350878 |
|  **China (0.6%)** |  |  |
|  BOC Hong Kong Holdings Ltd. | 336500 | 1580029 |
|  Prosus NV | 117778 | 8288339 |
|  SITC International Holdings Co. Ltd. | 111000 | 427343 |
|  Wharf Holdings Ltd. (The) | 71095 | 203365 |
|  Wilmar International Ltd. | 170200 | 376038 |
|  Yangzijiang Shipbuilding Holdings Ltd. | 253100 | 661225 |
|  |  | 11536339 |
|  **Denmark (1.7%)** |  |  |
|  AP Moller - Maersk A/S, Class A(x) | 258 | 504391 |
|  AP Moller - Maersk A/S, Class B(x) | 379 | 743032 |
|  Carlsberg A/S, Class B | 8023 | 932266 |
|  Coloplast A/S, Class B(x) | 11573 | 988375 |
|  Danske Bank A/S | 62153 | 2648178 |
|  Demant A/S\* | 7470 | 258711 |
|  DSV A/S | 18121 | 3603936 |
|  Genmab A/S\* | 5820 | 1764385 |
|  Novo Nordisk A/S, Class B | 287799 | 15600683 |
|  Novonesis Novozymes B | 30652 | 1875841 |
|  Orsted A/S(m)(x)\* | 14568 | 260174 |
|  Pandora A/S | 7338 | 956079 |
|  ROCKWOOL A/S, Class B | 8090 | 300414 |
|  Tryg A/S | 31381 | 796118 |
|  Vestas Wind Systems A/S | 89282 | 1682274 |
|  |  | 32914857 |
|  **Finland (1.0%)** |  |  |
|  Elisa OYJ | 13391 | 702131 |
|  Fortum OYJ | 40890 | 773151 |
|  Kesko OYJ, Class B | 24073 | 511559 |
|  Kone OYJ, Class B | 30262 | 2060688 |
|  Metso OYJ | 60190 | 825733 |
|  Neste OYJ | 35712 | 653443 |
|  Nokia OYJ | 469586 | 2248824 |
|  Nordea Bank Abp | 281375 | 4616618 |
|  Orion OYJ, Class B | 9717 | 743247 |
|  Sampo OYJ, Class A | 217955 | 2502093 |
|  Stora Enso OYJ, Class R | 55736 | 610918 |
|  UPM-Kymmene OYJ | 46845 | 1279812 |
|  Wartsila OYJ Abp | 43835 | 1309771 |
|  |  | 18837988 |
|  **France (8.5%)** |  |  |
|  Accor SA | 16762 | 793081 |
|  Aeroports de Paris SA(x) | 3412 | 449858 |
|  Air Liquide SA | 51808 | 10757542 |
|  Airbus SE | 53226 | 12335523 |
|  Alstom SA\* | 32211 | 836519 |
|  Amundi SA(m) | 5296 | 419078 |
|  Arkema SA | 5072 | 319176 |
|  AXA SA | 159263 | 7598978 |
|  BioMerieux | 3678 | 491406 |
|  BNP Paribas SA | 90342 | 8202086 |
|  Bollore SE | 65112 | 368158 |
|  Bouygues SA | 17167 | 772336 |
|  Bureau Veritas SA | 27589 | 862893 |
|  Capgemini SE | 14787 | 2144912 |
|  Carrefour SA | 52638 | 796906 |
|  Cie de Saint-Gobain SA | 39870 | 4290547 |
|  Cie Generale des Etablissements Michelin SCA | 60177 | 2157676 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Covivio SA (REIT) | 4327 | $290583 |
|  Credit Agricole SA | 95232 | 1869415 |
|  Danone SA | 57307 | 4989580 |
|  Dassault Aviation SA | 1606 | 536620 |
|  Dassault Systemes SE | 60006 | 2008531 |
|  Edenred SE | 22816 | 541100 |
|  Eiffage SA | 5907 | 753847 |
|  Engie SA | 161194 | 3454755 |
|  EssilorLuxottica SA | 26902 | 8717265 |
|  FDJ United | 8409 | 281369 |
|  Gecina SA (REIT) | 4388 | 439443 |
|  Getlink SE | 25479 | 468447 |
|  Hermes International SCA | 2852 | 6974698 |
|  Ipsen SA | 3511 | 468269 |
|  Kering SA | 6547 | 2171822 |
|  Klepierre SA (REIT) | 20548 | 799964 |
|  Legrand SA | 23139 | 3819588 |
|  L'Oreal SA | 21554 | 9325067 |
|  LVMH Moet Hennessy Louis Vuitton SE | 22347 | 13656096 |
|  Orange SA | 162865 | 2640633 |
|  Pernod Ricard SA | 17842 | 1749946 |
|  Publicis Groupe SA | 20776 | 1992344 |
|  Renault SA | 18465 | 754423 |
|  Rexel SA | 20113 | 657404 |
|  Safran SA | 32261 | 11366596 |
|  Sartorius Stedim Biotech | 2826 | 570839 |
|  Societe Generale SA | 63892 | 4227699 |
|  Sodexo SA | 7489 | 470836 |
|  Teleperformance SE | 5148 | 382828 |
|  Thales SA | 8344 | 2611686 |
|  TotalEnergies SE | 183466 | 11142552 |
|  Unibail-Rodamco-Westfield (REIT) | 10598 | 1112864 |
|  Veolia Environnement SA | 57496 | 1956242 |
|  Vinci SA | 43945 | 6085468 |
|  |  | 162885494 |
|  ***Germany (8.9%)*** |  |  |
|  adidas AG | 15009 | 3161264 |
|  Allianz SE (Registered) | 34508 | 14479746 |
|  BASF SE | 79130 | 3938140 |
|  Bayer AG (Registered) | 86427 | 2864487 |
|  Bayerische Motoren Werke AG | 25776 | 2585612 |
|  Bayerische Motoren Werke AG (Preference)(q) | 4504 | 417481 |
|  Beiersdorf AG | 8709 | 910007 |
|  Brenntag SE | 10331 | 617372 |
|  Commerzbank AG | 68811 | 2592473 |
|  Continental AG | 10026 | 660590 |
|  Covestro AG\* | 16695 | 1142725 |
|  CTS Eventim AG & Co. KGaA | 5603 | 548622 |
|  Daimler Truck Holding AG | 42333 | 1740531 |
|  Deutsche Bank AG (Registered) | 164295 | 5777072 |
|  Deutsche Boerse AG | 17009 | 4555024 |
|  Deutsche Lufthansa AG (Registered) | 50025 | 423339 |
|  Deutsche Post AG | 85217 | 3795860 |
|  Deutsche Telekom AG (Registered) | 312566 | 10645745 |
|  Dr Ing hc F Porsche AG (Preference)(m)(q)(x) | 10947 | 530544 |
|  E.ON SE | 198412 | 3730624 |
|  Evonik Industries AG | 24597 | 426530 |
|  Fresenius Medical Care AG | 20216 | 1059987 |
|  Fresenius SE & Co. KGaA | 37826 | 2105016 |
|  GEA Group AG | 13099 | 966563 |
|  Hannover Rueck SE | 5308 | 1599095 |
|  Heidelberg Materials AG | 11879 | 2671460 |
|  Henkel AG & Co. KGaA | 9673 | 717168 |
|  Henkel AG & Co. KGaA (Preference)(q) | 14534 | 1172272 |
|  Hensoldt AG | 5677 | 735158 |
|  Infineon Technologies AG | 115924 | 4518539 |
|  Knorr-Bremse AG | 6704 | 628486 |
|  LEG Immobilien SE | 6468 | 514097 |
|  Mercedes-Benz Group AG | 63908 | 4011918 |
|  Merck KGaA | 11712 | 1504989 |
|  MTU Aero Engines AG | 4897 | 2247410 |
|  Muenchener Rueckversicherungs- Gesellschaft AG in Muenchen (Registered) | 11874 | 7575360 |
|  Nemetschek SE | 5200 | 676441 |
|  Porsche Automobil Holding SE (Preference)(q) | 13795 | 541757 |
|  Rational AG | 466 | 355073 |
|  Rheinmetall AG | 4101 | 9554929 |
|  RWE AG | 56201 | 2495469 |
|  SAP SE | 93314 | 24967653 |
|  Sartorius AG (Preference)(q) | 2314 | 537645 |
|  Scout24 SE(m) | 6459 | 808368 |
|  Siemens AG (Registered) | 67915 | 18275401 |
|  Siemens Energy AG\* | 60310 | 7039627 |
|  Siemens Healthineers AG(m) | 30567 | 1651528 |
|  Symrise AG, Class A | 11583 | 1006872 |
|  Talanx AG | 5401 | 717806 |
|  Volkswagen AG (Preference)(q) | 18309 | 1976743 |
|  Vonovia SE | 66927 | 2086183 |
|  Zalando SE(m)\* | 20807 | 635384 |
|  |  | 170898185 |
|  ***Hong Kong (1.8%)*** |  |  |
|  AIA Group Ltd. | 949412 | 9107435 |
|  CK Asset Holdings Ltd. | 184652 | 895029 |
|  CK Infrastructure Holdings Ltd. | 53000 | 348023 |
|  CLP Holdings Ltd. | 151500 | 1254721 |
|  Futu Holdings Ltd. (ADR) | 5253 | 913549 |
|  Hang Seng Bank Ltd. | 67800 | 1032428 |
|  Henderson Land Development Co. Ltd. | 127025 | 447904 |
|  HKT Trust & HKT Ltd. | 362013 | 535905 |
|  Hong Kong & China Gas Co. Ltd. | 999722 | 868435 |
|  Hong Kong Exchanges & Clearing Ltd. | 106958 | 6075012 |
|  Hongkong Land Holdings Ltd. | 101800 | 644394 |
|  Jardine Matheson Holdings Ltd. | 13600 | 834768 |
|  Link REIT (REIT) | 229380 | 1179036 |
|  MTR Corp. Ltd. | 134000 | 454246 |
|  Power Assets Holdings Ltd. | 117500 | 744081 |
|  Prudential plc | 229119 | 3207760 |
|  Sino Land Co. Ltd. | 319172 | 403992 |
|  Sun Hung Kai Properties Ltd. | 135000 | 1616818 |
|  Swire Pacific Ltd., Class A | 33500 | 283904 |
|  Techtronic Industries Co. Ltd. | 130000 | 1663015 |
|  WH Group Ltd.(m) | 796603 | 862941 |
|  Wharf Real Estate Investment Co. Ltd. | 150900 | 445994 |
|  |  | 33819390 |
|  ***Ireland (0.4%)*** |  |  |
|  AerCap Holdings NV | 16747 | 2026387 |
|  AIB Group plc | 192162 | 1740564 |
|  Bank of Ireland Group plc | 87447 | 1438880 |
|  Kerry Group plc, Class A | 14356 | 1293595 |
|  Kingspan Group plc | 14281 | 1187076 |
|  |  | 7686502 |
|  ***Israel (0.8%)*** |  |  |
|  Azrieli Group Ltd. | 3713 | 368475 |
|  Bank Hapoalim BM | 113223 | 2301242 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Bank Leumi Le-Israel BM | 130889 | $2580080 |
|  Check Point Software Technologies Ltd.\* | 7782 | 1610174 |
|  Elbit Systems Ltd. | 2395 | 1212612 |
|  ICL Group Ltd. | 74932 | 468297 |
|  Israel Discount Bank Ltd., Class A | 104767 | 1035587 |
|  Mizrahi Tefahot Bank Ltd. | 14559 | 957794 |
|  Nice Ltd.\* | 5312 | 782639 |
|  Nova Ltd.\* | 2618 | 829537 |
|  Phoenix Financial Ltd. | 20191 | 755898 |
|  Teva Pharmaceutical Industries Ltd. (ADR)\* | 104626 | 2113445 |
|  Wix.com Ltd.\* | 4659 | 827578 |
|  |  | 15843358 |
|  **Italy (3.0%)** |  |  |
|  Banca Mediolanum SpA | 19982 | 399991 |
|  Banca Monte dei Paschi di Siena SpA | 176423 | 1561753 |
|  Banco BPM SpA | 97491 | 1456495 |
|  BPER Banca SpA | 132683 | 1469907 |
|  Coca-Cola HBC AG | 20085 | 946512 |
|  Davide Campari-Milano NV(x) | 60150 | 379225 |
|  Enel SpA | 732569 | 6937346 |
|  Eni SpA(x) | 182779 | 3190120 |
|  Ferrari NV | 11173 | 5399229 |
|  FinecoBank Banca Fineco SpA | 52256 | 1129168 |
|  Generali | 76918 | 3017109 |
|  Infrastrutture Wireless Italiane SpA(m) | 27783 | 326513 |
|  Intesa Sanpaolo SpA | 1272767 | 8388956 |
|  Leonardo SpA | 36331 | 2304191 |
|  Moncler SpA | 20198 | 1182590 |
|  Nexi SpA(m)(x) | 53438 | 302150 |
|  Poste Italiane SpA(m) | 42245 | 1001378 |
|  Prysmian SpA | 25203 | 2490851 |
|  Recordati Industria Chimica e Farmaceutica SpA | 9973 | 605345 |
|  Ryanair Holdings plc | 75991 | 2203666 |
|  Snam SpA | 170599 | 1025093 |
|  Telecom Italia SpA\* | 1055769 | 551961 |
|  Terna - Rete Elettrica Nazionale | 127948 | 1297577 |
|  UniCredit SpA | 124445 | 9419367 |
|  Unipol Assicurazioni SpA | 33905 | 726861 |
|  |  | 57713354 |
|  **Japan (20.2%)** |  |  |
|  Advantest Corp.(x) | 69100 | 6845285 |
|  Aeon Co. Ltd. | 202200 | 2454265 |
|  AGC, Inc. | 16800 | 548129 |
|  Aisin Corp. | 45100 | 780715 |
|  Ajinomoto Co., Inc. | 80200 | 2302662 |
|  ANA Holdings, Inc. | 16700 | 323080 |
|  Asahi Group Holdings Ltd. | 126000 | 1512750 |
|  Asahi Kasei Corp. | 113100 | 890590 |
|  Asics Corp. | 60500 | 1584042 |
|  Astellas Pharma, Inc.(x) | 159600 | 1727287 |
|  Bandai Namco Holdings, Inc. | 52400 | 1745072 |
|  Bridgestone Corp. | 51600 | 2389403 |
|  Canon, Inc.(x) | 77500 | 2272830 |
|  Capcom Co. Ltd. | 30000 | 816107 |
|  Central Japan Railway Co. | 70400 | 2019861 |
|  Chiba Bank Ltd. (The)(x) | 48400 | 508759 |
|  Chubu Electric Power Co., Inc. | 57900 | 805945 |
|  Chugai Pharmaceutical Co. Ltd. | 61000 | 2659688 |
|  Dai Nippon Printing Co. Ltd. | 32400 | 551119 |
|  Daifuku Co. Ltd. | 28200 | 904437 |
|  Dai-ichi Life Holdings, Inc. | 312100 | 2460754 |
|  Daiichi Sankyo Co. Ltd. | 154800 | 3470007 |
|  Daikin Industries Ltd. | 23800 | 2748785 |
|  Daito Trust Construction Co. Ltd.(x) | 24500 | 537597 |
|  Daiwa House Industry Co. Ltd. | 49700 | 1787903 |
|  Daiwa Securities Group, Inc.(x) | 123400 | 1003405 |
|  Denso Corp. | 156100 | 2254127 |
|  Disco Corp. | 8400 | 2641809 |
|  East Japan Railway Co. | 86327 | 2113154 |
|  Eisai Co. Ltd.(x) | 23000 | 773743 |
|  ENEOS Holdings, Inc. | 248290 | 1578035 |
|  FANUC Corp. | 84800 | 2443910 |
|  Fast Retailing Co. Ltd. | 17300 | 5268905 |
|  Fuji Electric Co. Ltd.(x) | 11800 | 793449 |
|  FUJIFILM Holdings Corp. | 101300 | 2521454 |
|  Fujikura Ltd. | 22700 | 2218808 |
|  Fujitsu Ltd. | 156300 | 3682248 |
|  Hankyu Hanshin Holdings, Inc. | 20300 | 599041 |
|  Hikari Tsushin, Inc. | 1500 | 418704 |
|  Hitachi Ltd. | 410200 | 10900943 |
|  Honda Motor Co. Ltd.(x) | 353900 | 3663799 |
|  Hoya Corp. | 30600 | 4236637 |
|  Hulic Co. Ltd. | 39300 | 430510 |
|  Idemitsu Kosan Co. Ltd.(x) | 67385 | 462949 |
|  IHI Corp. | 88900 | 1659154 |
|  Inpex Corp. | 76100 | 1375496 |
|  Isuzu Motors Ltd. | 47000 | 594154 |
|  ITOCHU Corp. | 105500 | 6011042 |
|  Japan Airlines Co. Ltd. | 10938 | 220631 |
|  Japan Exchange Group, Inc. | 86900 | 971040 |
|  Japan Post Bank Co. Ltd. | 156600 | 1921430 |
|  Japan Post Holdings Co. Ltd. | 154100 | 1531778 |
|  Japan Post Insurance Co. Ltd. | 15400 | 436638 |
|  Japan Tobacco, Inc. | 107900 | 3547417 |
|  JFE Holdings, Inc.(x) | 54000 | 663292 |
|  Kajima Corp. | 38700 | 1129453 |
|  Kansai Electric Power Co., Inc. (The) | 83000 | 1189002 |
|  Kao Corp. | 40600 | 1771042 |
|  Kawasaki Heavy Industries Ltd.(x) | 13500 | 891875 |
|  Kawasaki Kisen Kaisha Ltd.(x) | 33100 | 471370 |
|  KDDI Corp. | 280700 | 4480457 |
|  Keyence Corp. | 17540 | 6544661 |
|  Kikkoman Corp.(x) | 60300 | 511725 |
|  Kirin Holdings Co. Ltd. | 71600 | 1049417 |
|  Kobe Bussan Co. Ltd. | 13300 | 365495 |
|  Komatsu Ltd. | 85000 | 2965818 |
|  Konami Group Corp. | 9000 | 1299320 |
|  Kubota Corp. | 85600 | 1078357 |
|  Kyocera Corp. | 113300 | 1524227 |
|  Kyowa Kirin Co. Ltd. | 24400 | 379237 |
|  Lasertec Corp. | 7300 | 1002309 |
|  LY Corp. | 253200 | 815150 |
|  M3, Inc.(x) | 36500 | 588897 |
|  Makita Corp. | 20500 | 666214 |
|  Marubeni Corp. | 127300 | 3183253 |
|  MatsukiyoCocokara & Co. | 29000 | 589079 |
|  Meiji Holdings Co. Ltd.(x) | 21744 | 450804 |
|  Minebea Mitsumi, Inc.(x) | 30300 | 571538 |
|  Mitsubishi Chemical Group Corp. | 120300 | 692507 |
|  Mitsubishi Corp. | 287600 | 6866928 |
|  Mitsubishi Electric Corp. | 171400 | 4407710 |
|  Mitsubishi Estate Co. Ltd. | 95800 | 2204466 |
|  Mitsubishi HC Capital, Inc. | 73600 | 608419 |
|  Mitsubishi Heavy Industries Ltd. | 284490 | 7462127 |
|  Mitsubishi UFJ Financial Group, Inc. | 1024500 | 16584867 |
|  Mitsui & Co. Ltd. | 222800 | 5544200 |
|  Mitsui Fudosan Co. Ltd. | 236800 | 2582807 |
|  Mitsui OSK Lines Ltd.(x) | 32100 | 975470 |
|  Mizuho Financial Group, Inc. | 224643 | 7576964 |
|  MonotaRO Co. Ltd. | 20000 | 291578 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  MS&AD Insurance Group Holdings, Inc. | 116540 | $2644678 |
|  Murata Manufacturing Co. Ltd. | 149500 | 2846247 |
|  NEC Corp. | 115800 | 3710831 |
|  Nexon Co. Ltd. | 28900 | 634536 |
|  Nidec Corp. | 75000 | 1335582 |
|  Nintendo Co. Ltd. | 99100 | 8580826 |
|  Nippon Building Fund, Inc. (REIT) | 707 | 666913 |
|  Nippon Paint Holdings Co. Ltd.(x) | 82600 | 564127 |
|  Nippon Sanso Holdings Corp. | 14800 | 525108 |
|  Nippon Steel Corp.(x) | 419040 | 1727051 |
|  Nippon Yusen KK(x) | 38200 | 1304718 |
|  Nissan Motor Co. Ltd.\* | 197400 | 485608 |
|  Nissin Foods Holdings Co. Ltd.(x) | 15800 | 297656 |
|  Nitori Holdings Co. Ltd.(x) | 35000 | 675339 |
|  Nitto Denko Corp.(x) | 63400 | 1507778 |
|  Nomura Holdings, Inc. | 274600 | 2015609 |
|  Nomura Research Institute Ltd. | 34898 | 1338718 |
|  NTT, Inc. | 2705800 | 2830492 |
|  Obayashi Corp. | 56600 | 929651 |
|  Obic Co. Ltd. | 29300 | 1021146 |
|  Olympus Corp. | 101700 | 1286680 |
|  Oracle Corp. | 3400 | 347162 |
|  Oriental Land Co. Ltd.(x) | 96700 | 2332413 |
|  ORIX Corp.(x) | 105600 | 2772013 |
|  Osaka Gas Co. Ltd. | 34300 | 994778 |
|  Otsuka Corp. | 21300 | 444767 |
|  Otsuka Holdings Co. Ltd. | 38600 | 2051306 |
|  Pan Pacific International Holdings Corp. | 166000 | 1094431 |
|  Panasonic Holdings Corp. | 208900 | 2274260 |
|  Rakuten Group, Inc.\* | 128400 | 833426 |
|  Recruit Holdings Co. Ltd. | 118800 | 6396892 |
|  Renesas Electronics Corp. | 146600 | 1691176 |
|  Resona Holdings, Inc. | 186805 | 1908030 |
|  Ryohin Keikaku Co. Ltd. | 45200 | 900118 |
|  Sanrio Co. Ltd.(x) | 16400 | 770845 |
|  SBI Holdings, Inc. | 24520 | 1067118 |
|  SCREEN Holdings Co. Ltd.(x) | 6800 | 618913 |
|  SCSK Corp. | 13600 | 407306 |
|  Secom Co. Ltd. | 36700 | 1346299 |
|  Sekisui Chemical Co. Ltd. | 34200 | 637123 |
|  Sekisui House Ltd. | 53300 | 1213518 |
|  Seven & i Holdings Co. Ltd. | 186200 | 2506841 |
|  SG Holdings Co. Ltd.(x) | 25300 | 261580 |
|  Shimadzu Corp. | 22800 | 575839 |
|  Shimano, Inc. | 6900 | 774521 |
|  Shin-Etsu Chemical Co. Ltd. | 150800 | 4948659 |
|  Shionogi & Co. Ltd. | 69000 | 1209139 |
|  Shiseido Co. Ltd. | 33900 | 579270 |
|  SMC Corp. | 5200 | 1597430 |
|  SoftBank Corp. | 2535500 | 3732484 |
|  SoftBank Group Corp. | 84800 | 10714325 |
|  Sompo Holdings, Inc. | 80175 | 2480310 |
|  Sony Financial Group, Inc.\* | 549600 | 609490 |
|  Sony Group Corp. | 549600 | 15828153 |
|  Subaru Corp. | 55000 | 1126889 |
|  Sumitomo Corp. | 96800 | 2806765 |
|  Sumitomo Electric Industries Ltd. | 63900 | 1822566 |
|  Sumitomo Metal Mining Co. Ltd.(x) | 23299 | 751032 |
|  Sumitomo Mitsui Financial Group, Inc. | 331191 | 9352224 |
|  Sumitomo Mitsui Trust Group, Inc. | 58236 | 1692914 |
|  Sumitomo Realty & Development Co. Ltd. | 27200 | 1201409 |
|  Suntory Beverage & Food Ltd. | 13200 | 412821 |
|  Suzuki Motor Corp. | 138200 | 2019009 |
|  Sysmex Corp. | 45000 | 555178 |
|  T&D Holdings, Inc. | 45400 | 1111937 |
|  Taisei Corp. | 13400 | 921513 |
|  Takeda Pharmaceutical Co. Ltd. | 141263 | 4121783 |
|  TDK Corp. | 169800 | 2466885 |
|  Terumo Corp. | 119300 | 1970787 |
|  TIS, Inc. | 17600 | 581252 |
|  Toho Co. Ltd. | 9600 | 616695 |
|  Tokio Marine Holdings, Inc. | 163100 | 6913980 |
|  Tokyo Electron Ltd. | 39800 | 7094215 |
|  Tokyo Gas Co. Ltd. | 30600 | 1089214 |
|  Tokyo Metro Co. Ltd.(x) | 28100 | 321976 |
|  Tokyu Corp. | 46300 | 564798 |
|  TOPPAN Holdings, Inc. | 20100 | 515803 |
|  Toray Industries, Inc. | 118300 | 756189 |
|  Toyota Industries Corp. | 14200 | 1597782 |
|  Toyota Motor Corp. | 846850 | 16317403 |
|  Toyota Tsusho Corp. | 61700 | 1711420 |
|  Trend Micro, Inc. | 11200 | 613450 |
|  Unicharm Corp. | 100600 | 652640 |
|  West Japan Railway Co. | 40500 | 888133 |
|  Yakult Honsha Co. Ltd.(x) | 24000 | 391358 |
|  Yamaha Motor Co. Ltd. | 79300 | 595212 |
|  Yokogawa Electric Corp. | 18600 | 535166 |
|  Yokohama Financial Group, Inc. | 94800 | 728861 |
|  Zensho Holdings Co. Ltd. | 8400 | 549378 |
|  ZOZO, Inc.(x) | 43400 | 399121 |
|  |  | 389518504 |
|  **Luxembourg (0.1%)** |  |  |
|  ArcelorMittal SA | 40900 | 1468410 |
|  CVC Capital Partners plc(m) | 20576 | 358011 |
|  Eurofins Scientific SE | 10490 | 760869 |
|  |  | 2587290 |
|  **Macau (0.1%)** |  |  |
|  Galaxy Entertainment Group Ltd. | 191000 | 1052446 |
|  Sands China Ltd. | 225600 | 629086 |
|  |  | 1681532 |
|  **Mexico (0.0%)†** |  |  |
|  Fresnillo plc | 19755 | 627017 |
|  **Netherlands (4.0%)** |  |  |
|  ABN AMRO Bank NV (CVA)(m) | 52110 | 1667148 |
|  Adyen NV(m)\* | 2237 | 3584967 |
|  Aegon Ltd. | 121036 | 970843 |
|  Akzo Nobel NV | 15944 | 1134375 |
|  Argenx SE\* | 5337 | 3867316 |
|  ASM International NV | 4254 | 2551144 |
|  ASML Holding NV | 35193 | 34215719 |
|  ASR Nederland NV | 13042 | 884725 |
|  BE Semiconductor Industries NV | 7083 | 1054859 |
|  Euronext NV(m) | 7261 | 1086057 |
|  EXOR NV | 7970 | 778517 |
|  Heineken Holding NV | 11272 | 772197 |
|  Heineken NV | 26080 | 2033729 |
|  IMCD NV | 5703 | 589213 |
|  ING Groep NV | 270009 | 6997865 |
|  JDE Peet's NV | 16537 | 605756 |
|  Koninklijke Ahold Delhaize NV | 80386 | 3251294 |
|  Koninklijke KPN NV | 340891 | 1635712 |
|  Koninklijke Philips NV | 72551 | 1962513 |
|  NN Group NV | 23850 | 1677265 |
|  Randstad NV | 9266 | 393484 |
|  Universal Music Group NV | 96783 | 2790706 |
|  Wolters Kluwer NV | 20906 | 2850866 |
|  |  | 77356270 |
|  **New Zealand (0.3%)** |  |  |
|  Auckland International Airport Ltd. | 156826 | 716448 |
|  Contact Energy Ltd. | 64571 | 340659 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Fisher & Paykel Healthcare Corp. Ltd. | 49145 | $1055622 |
|  Infratil Ltd. | 86890 | 622125 |
|  Meridian Energy Ltd. | 123596 | 399117 |
|  Xero Ltd.\* | 14687 | 1530646 |
|  |  | 4664617 |
|  **Norway (0.5%)** |  |  |
|  Aker BP ASA | 26960 | 683756 |
|  DNB Bank ASA | 78760 | 2142716 |
|  Equinor ASA | 68544 | 1671780 |
|  Gjensidige Forsikring ASA | 18661 | 547140 |
|  Kongsberg Gruppen ASA | 40705 | 1300946 |
|  Mowi ASA | 40421 | 853821 |
|  Norsk Hydro ASA | 121674 | 824201 |
|  Orkla ASA | 67226 | 701930 |
|  Salmar ASA | 5312 | 283710 |
|  Telenor ASA | 57319 | 949999 |
|  |  | 9959999 |
|  **Poland (0.0%)†** |  |  |
|  InPost SA\* | 20677 | 253682 |
|  **Portugal (0.2%)** |  |  |
|  Banco Comercial Portugues SA, Class R | 742833 | 656883 |
|  EDP SA | 286724 | 1358969 |
|  Galp Energia SGPS SA | 36247 | 685148 |
|  Jeronimo Martins SGPS SA | 26261 | 638217 |
|  |  | 3339217 |
|  **Singapore (1.7%)** |  |  |
|  CapitaLand Ascendas REIT (REIT) | 333466 | 721245 |
|  CapitaLand Integrated Commercial Trust (REIT) | 528395 | 938040 |
|  CapitaLand Investment Ltd. | 196400 | 409563 |
|  DBS Group Holdings Ltd. | 189110 | 7498722 |
|  Genting Singapore Ltd. | 600241 | 342011 |
|  Grab Holdings Ltd., Class A\* | 211426 | 1272785 |
|  Keppel Ltd. | 129400 | 894801 |
|  Oversea-Chinese Banking Corp. Ltd. | 307406 | 3917791 |
|  Sea Ltd. (ADR)\* | 33958 | 6069313 |
|  Sembcorp Industries Ltd. | 71400 | 333213 |
|  Singapore Airlines Ltd. | 145200 | 733908 |
|  Singapore Exchange Ltd. | 74700 | 957239 |
|  Singapore Technologies Engineering Ltd. | 133900 | 893739 |
|  Singapore Telecommunications Ltd. | 649500 | 2079488 |
|  STMicroelectronics NV | 60627 | 1697622 |
|  United Overseas Bank Ltd. | 111075 | 2977614 |
|  |  | 31737094 |
|  **South Africa (0.2%)** |  |  |
|  Anglo American plc | 99345 | 3721013 |
|  **South Korea (0.0%)†** |  |  |
|  Delivery Hero SE(m)\* | 18045 | 517144 |
|  **Spain (3.1%)** |  |  |
|  Acciona SA | 1985 | 398281 |
|  ACS Actividades de Construccion y Servicios SA | 15814 | 1262517 |
|  Aena SME SA(m) | 67820 | 1852852 |
|  Amadeus IT Group SA | 40550 | 3213522 |
|  Banco Bilbao Vizcaya Argentaria SA | 511595 | 9814427 |
|  Banco de Sabadell SA | 478759 | 1854887 |
|  Banco Santander SA | 1345056 | 14013492 |
|  Bankinter SA | 56024 | 881713 |
|  CaixaBank SA | 347861 | 3653602 |
|  Cellnex Telecom SA(m) | 42490 | 1471120 |
|  EDP Renovaveis SA | 29341 | 385815 |
|  Endesa SA | 26845 | 857588 |
|  Grifols SA | 25498 | 368960 |
|  Iberdrola SA | 568597 | 10751075 |
|  Industria de Diseno Textil SA | 98536 | 5433780 |
|  Redeia Corp. SA | 38534 | 743759 |
|  Repsol SA | 101766 | 1799942 |
|  Telefonica SA(x) | 322145 | 1663387 |
|  |  | 60420719 |
|  **Sweden (2.8%)** |  |  |
|  AddTech AB, Class B | 23540 | 763130 |
|  Alfa Laval AB | 25105 | 1142397 |
|  Assa Abloy AB, Class B | 87924 | 3050219 |
|  Atlas Copco AB, Class A | 242644 | 4095442 |
|  Atlas Copco AB, Class B | 138383 | 2071835 |
|  Beijer Ref AB, Class B | 33362 | 519687 |
|  Boliden AB\* | 24793 | 1007848 |
|  Epiroc AB, Class A | 56833 | 1197704 |
|  Epiroc AB, Class B | 37034 | 697849 |
|  EQT AB | 32333 | 1118247 |
|  Essity AB, Class B | 52211 | 1363174 |
|  Evolution AB(m) | 13353 | 1096959 |
|  Fastighets AB Balder, Class B\* | 62734 | 448728 |
|  H & M Hennes & Mauritz AB, Class B(x) | 51107 | 951362 |
|  Hexagon AB, Class B | 182435 | 2168431 |
|  Holmen AB, Class B | 6300 | 239168 |
|  Industrivarden AB, Class C(x) | 14243 | 564159 |
|  Industrivarden AB, Class A | 11793 | 467491 |
|  Indutrade AB | 26407 | 605310 |
|  Investment AB Latour, Class B | 12494 | 295814 |
|  Investor AB, Class B | 153643 | 4798896 |
|  L E Lundbergforetagen AB, Class B | 6766 | 351006 |
|  Lifco AB, Class B | 21913 | 739713 |
|  Nibe Industrier AB, Class B | 130867 | 514883 |
|  Saab AB, Class B(x) | 29603 | 1806480 |
|  Sagax AB, Class B | 18372 | 383075 |
|  Sandvik AB | 96785 | 2691442 |
|  Securitas AB, Class B | 45540 | 684957 |
|  Skandinaviska Enskilda Banken AB, Class A | 140834 | 2751038 |
|  Skanska AB, Class B | 32292 | 836593 |
|  SKF AB, Class B | 29047 | 719511 |
|  Svenska Cellulosa AB SCA, Class B | 51705 | 682945 |
|  Svenska Handelsbanken AB, Class A | 125807 | 1635662 |
|  Swedbank AB, Class A | 75234 | 2263157 |
|  Swedish Orphan Biovitrum AB\* | 19030 | 579729 |
|  Tele2 AB, Class B | 49864 | 850364 |
|  Telefonaktiebolaget LM Ericsson, Class B | 245866 | 2032866 |
|  Telia Co. AB | 207274 | 790179 |
|  Trelleborg AB, Class B | 16961 | 631461 |
|  Volvo AB, Class B | 140878 | 4032824 |
|  |  | 53641735 |
|  **Switzerland (4.4%)** |  |  |
|  ABB Ltd. (Registered) | 140389 | 10108784 |
|  Avolta AG | 7138 | 386109 |
|  Baloise Holding AG (Registered) | 3835 | 946164 |
|  Banque Cantonale Vaudoise (Registered) | 2868 | 338302 |
|  Barry Callebaut AG (Registered)(x) | 294 | 402563 |
|  Belimo Holding AG (Registered) | 879 | 918144 |
|  BKW AG | 2066 | 440944 |
|  Chocoladefabriken Lindt & Spruengli AG | 85 | 1298411 |
|  Chocoladefabriken Lindt & Spruengli AG (Registered) | 10 | 1502418 |
|  Cie Financiere Richemont SA (Registered) | 47720 | 9087811 |
|  DSM-Firmenich AG | 16457 | 1401184 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  EMS-Chemie Holding AG (Registered) | 667 | $471311 |
|  Galderma Group AG | 11370 | 1975342 |
|  Geberit AG (Registered) | 3037 | 2278370 |
|  Givaudan SA (Registered) | 814 | 3304878 |
|  Helvetia Holding AG (Registered) | 3214 | 786089 |
|  Julius Baer Group Ltd. | 17726 | 1223819 |
|  Kuehne + Nagel International AG (Registered)(x) | 4149 | 772155 |
|  Logitech International SA (Registered) | 13407 | 1461541 |
|  Lonza Group AG (Registered) | 6407 | 4243164 |
|  Partners Group Holding AG | 2050 | 2661485 |
|  Sandoz Group AG | 37519 | 2223191 |
|  Schindler Holding AG | 3553 | 1344342 |
|  Schindler Holding AG (Registered) | 2157 | 776309 |
|  SGS SA (Registered) | 14607 | 1513454 |
|  SIG Group AG | 29724 | 306369 |
|  Sika AG (Registered) | 13420 | 2985594 |
|  Sonova Holding AG (Registered) | 4447 | 1210000 |
|  Straumann Holding AG (Registered) | 10185 | 1086246 |
|  Swatch Group AG (The)(x) | 2647 | 496946 |
|  Swiss Life Holding AG (Registered) | 2580 | 2773002 |
|  Swiss Prime Site AG (Registered) | 7146 | 999120 |
|  Swisscom AG (Registered) | 2291 | 1662022 |
|  UBS Group AG (Registered) | 283678 | 11585166 |
|  VAT Group AG(m) | 2370 | 936032 |
|  Zurich Insurance Group AG | 12992 | 9247242 |
|  |  | 85154023 |
|  **United Arab Emirates (0.0%)** |  |  |
|  NMC Health plc(r)\* | 12466 |  |
|  **United Kingdom (10.3%)** |  |  |
|  3i Group plc | 87702 | 4822993 |
|  Admiral Group plc | 22922 | 1033348 |
|  Ashtead Group plc | 38185 | 2549776 |
|  Associated British Foods plc | 30856 | 851129 |
|  AstraZeneca plc | 137646 | 20700130 |
|  Auto Trader Group plc(m) | 77013 | 816376 |
|  Aviva plc | 265719 | 2450812 |
|  BAE Systems plc | 267405 | 7404843 |
|  Barclays plc | 1269515 | 6481179 |
|  Barratt Redrow plc | 123770 | 649021 |
|  British American Tobacco plc | 186283 | 9888498 |
|  BT Group plc | 545844 | 1403243 |
|  Bunzl plc | 28927 | 912686 |
|  Centrica plc | 446481 | 1000387 |
|  CK Hutchison Holdings Ltd. | 236652 | 1558532 |
|  Coca-Cola Europacific Partners plc | 20581 | 1860728 |
|  Compass Group plc | 150615 | 5122796 |
|  DCC plc(x) | 9033 | 579726 |
|  Diageo plc | 197533 | 4716831 |
|  Entain plc | 50354 | 591747 |
|  Halma plc | 34932 | 1620812 |
|  Hikma Pharmaceuticals plc | 14071 | 321331 |
|  HSBC Holdings plc | 1568807 | 22048335 |
|  Imperial Brands plc | 69440 | 2949252 |
|  Informa plc | 117997 | 1456178 |
|  InterContinental Hotels Group plc | 12864 | 1552573 |
|  International Consolidated Airlines Group SA | 101475 | 528014 |
|  Intertek Group plc | 14591 | 926619 |
|  J Sainsbury plc | 156102 | 701205 |
|  JD Sports Fashion plc | 193843 | 248447 |
|  Kingfisher plc | 147753 | 613427 |
|  Land Securities Group plc (REIT) | 65818 | 515178 |
|  Legal & General Group plc | 535615 | 1714430 |
|  Lloyds Banking Group plc | 5339157 | 6018806 |
|  London Stock Exchange Group plc | 42308 | 4845606 |
|  M&G plc | 194738 | 662615 |
|  Marks & Spencer Group plc | 184559 | 904738 |
|  Melrose Industries plc | 107798 | 882623 |
|  National Grid plc | 434708 | 6241019 |
|  NatWest Group plc | 717489 | 5033184 |
|  Next plc | 10137 | 1687115 |
|  Pearson plc | 55917 | 794517 |
|  Phoenix Group Holdings plc | 60488 | 523489 |
|  Reckitt Benckiser Group plc | 61395 | 4721360 |
|  RELX plc | 163982 | 7844586 |
|  Rentokil Initial plc | 235635 | 1190931 |
|  Rolls-Royce Holdings plc | 752561 | 12044219 |
|  Sage Group plc (The) | 89802 | 1328522 |
|  Schroders plc | 57151 | 289003 |
|  Segro plc (REIT) | 108985 | 960645 |
|  Severn Trent plc | 24674 | 858803 |
|  Smith & Nephew plc | 72339 | 1301237 |
|  Smiths Group plc | 30442 | 962943 |
|  Spirax Group plc | 7107 | 651392 |
|  SSE plc | 96300 | 2255484 |
|  Standard Chartered plc | 179198 | 3459604 |
|  Tesco plc | 592477 | 3549843 |
|  Unilever plc | 219094 | 12965019 |
|  United Utilities Group plc | 62365 | 961623 |
|  Vodafone Group plc | 1806818 | 2093679 |
|  Whitbread plc | 15621 | 676480 |
|  Wise plc, Class A\* | 62529 | 870386 |
|  WPP plc | 93173 | 460884 |
|  |  | 197630937 |
|  **United States (8.7%)** |  |  |
|  Alcon AG | 44357 | 3302049 |
|  Amrize Ltd.\* | 47082 | 2270558 |
|  BP plc | 1421817 | 8141199 |
|  CSL Ltd. | 42983 | 5637175 |
|  CyberArk Software Ltd.\* | 4113 | 1987196 |
|  Experian plc | 81390 | 4074154 |
|  Ferrovial SE | 45708 | 2617704 |
|  GSK plc | 365392 | 7737340 |
|  Haleon plc | 798247 | 3568521 |
|  Holcim AG | 45896 | 3882465 |
|  James Hardie Industries plc (CHDI)\* | 51578 | 958347 |
|  Monday.com Ltd.\* | 3781 | 732342 |
|  Nestle SA (Registered) | 230241 | 21133986 |
|  Novartis AG (Registered) | 169892 | 21367486 |
|  QIAGEN NV | 19471 | 861705 |
|  Roche Holding AG (BMV Mexico Stock Exchange) | 62782 | 20497509 |
|  Roche Holding AG (OTC US Exchange) | 2724 | 931440 |
|  Sanofi SA | 98551 | 9088534 |
|  Schneider Electric SE | 48994 | 13667086 |
|  Shell plc | 531364 | 18912721 |
|  Spotify Technology SA\* | 13629 | 9513042 |
|  Stellantis NV | 174785 | 1613742 |
|  Swiss Re AG | 26774 | 4945816 |
|  Tenaris SA | 39285 | 700602 |
|  |  | 168142719 |
|  **Total Common Stocks (90.7%)**<br> *(Cost $993,169,005)* |  | 1745259352 |
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  **RIGHTS:** |  |  |
|  **Belgium (0.0%)†** |  |  |
|  Sofina SA, expiring 10/2/25(x)\* | 984 | 2195 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Rights** | **Value<br>(Note 1)** |
|  **Denmark (0.0%)†** |  |  |
|  Orsted A/S, expiring 10/2/25(x)\* | 218520 | $217556 |
|  **Total Rights (0.0%)†<br>(***Cost $240,002***)** |  | 219751 |
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (1.1%)** |  |  |
|  Allspring Government Money Market Fund, Select Shares 4.07% (7 day yield) (xx) | 1000000 | 1000000 |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 1000000 | 1000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 20114638 | 20114638 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 22114638 |
|  **Total Short-Term Investments (1.1%)**<br>*(Cost $22,114,638)* |  | 22114638 |
|  **Total Investments in Securities (91.8%)**<br>*(Cost $1,015,523,645)* |  | 1767593741 |
|  **Other Assets Less Liabilities (8.2%)** |  | 157153163 |
|  **Net Assets (100%)** |  | $1924746904 |

---

*\** *Non-income producing.* 

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $20,184,724 or 1.0% of net assets.* 

*(q)* *Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $42,793,320. This was collateralized by $23,276,283 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.250%, maturing 10/9/25 – 5/15/55 and by cash of $22,114,638 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*AUD — Australian Dollar* 

*CHDI — Clearing House Electronic Subregister System (CHESS) Depository Interest* 

*CVA — Dutch Certification* 

*EUR — European Currency Unit* 

*GBP — British Pound* 

*JPY — Japanese Yen* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Sector Weightings<br>as of September 30, 2025** | **Market Value** | **% of Net<br>Assets** |
|  Financials | $431812326 | 22.4% |
|  Industrials | 337355440 | 17.5 |
|  Health Care | 188405227 | 9.8 |
|  Consumer Discretionary | 178523087 | 9.3 |
|  Information Technology | 145427184 | 7.6 |
|  Consumer Staples | 131619252 | 6.8 |
|  Materials | 98312232 | 5.1 |
|  Communication Services | 85964093 | 4.5 |
|  Utilities | 59654197 | 3.1 |
|  Energy | 55546296 | 2.9 |
|  Real Estate | 32859769 | 1.7 |
|  Investment Companies | 22114638 | 1.1 |
|  Cash and Other | 157153163 | 8.2 |
|  |  | 100.0% |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation**<br>**(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  EURO STOXX 50 Index | 1072 | 12/2025 | EUR | 69738006 | 1292615 |
|  FTSE 100 Index | 345 | 12/2025 | GBP | 43649906 | 315502 |
|  SPI 200 Index | 120 | 12/2025 | AUD | 17613792 | (23730) |
|  TOPIX Index | 204 | 12/2025 | JPY | 43328532 | 523822 |
|  |  |  |  |  | 2108209 |

---

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation**<br>**(Depreciation) ($)** |
|  AUD | 24584785 | USD | 16365644 | HSBC Bank plc | 12/19/2025 | (82752) |
|  GBP | 21980193 | USD | 29807491 | HSBC Bank plc | 12/19/2025 | (243754) |
|  JPY | 5314089615 | USD | 36450385 | HSBC Bank plc | 12/19/2025 | (220400) |
|  USD | 63027191 | EUR | 53448607 | HSBC Bank plc | 12/19/2025 | (12042) |
|  **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** |  |  | (558948) |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Australia | $— | $121553308 | $— | $121553308 |
|  Austria |  | 4338732 |  | 4338732 |
|  Belgium |  | 14418928 |  | 14418928 |
|  Brazil |  | 508527 |  | 508527 |
|  Chile |  | 1350878 |  | 1350878 |
|  China |  | 11536339 |  | 11536339 |
|  Denmark |  | 32914857 |  | 32914857 |
|  Finland |  | 18837988 |  | 18837988 |
|  France |  | 162885494 |  | 162885494 |
|  Germany |  | 170898185 |  | 170898185 |
|  Hong Kong | 1748317 | 32071073 |  | 33819390 |
|  Ireland | 2026387 | 5660115 |  | 7686502 |
|  Israel | 4551197 | 11292161 |  | 15843358 |
|  Italy |  | 57713354 |  | 57713354 |
|  Japan |  | 389518504 |  | 389518504 |
|  Luxembourg |  | 2587290 |  | 2587290 |
|  Macau |  | 1681532 |  | 1681532 |
|  Mexico |  | 627017 |  | 627017 |
|  Netherlands |  | 77356270 |  | 77356270 |
|  New Zealand |  | 4664617 |  | 4664617 |
|  Norway |  | 9959999 |  | 9959999 |
|  Poland |  | 253682 |  | 253682 |
|  Portugal |  | 3339217 |  | 3339217 |
|  Singapore | 7342098 | 24394996 |  | 31737094 |
|  South Africa |  | 3721013 |  | 3721013 |
|  South Korea |  | 517144 |  | 517144 |
|  Spain |  | 60420719 |  | 60420719 |
|  Sweden |  | 53641735 |  | 53641735 |
|  Switzerland |  | 85154023 |  | 85154023 |
|  United Arab Emirates |  |  | — (a) | — (a) |
|  United Kingdom | 1860728 | 195770209 |  | 197630937 |
|  United States | 12232580 | 155910139 |  | 168142719 |
|  **Futures** | 2131939 |  |  | 2131939 |
|  **Rights** |  |  |  |  |
|  Belgium |  | 2195 |  | 2195 |
|  Denmark |  | 217556 |  | 217556 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 22114638 |  |  | 22114638 |
|  **Total Assets** | $**54007884** | $**1715717796** | $**—** | $**1769725680** |
|  **Liabilities:** |  |  |  |  |
|  **Forward Currency Contracts** | $— | $(558948) | $— | $(558948) |
|  **Futures** | (23730) |  |  | (23730) |
|  **Total Liabilities** | $**(23730)** | $**(558948)** | $**—** | $**(582678)** |
|  **Total** | $**53984154** | $**1715158848** | $**—** | $**1769143002** |

---

(a) Value is zero.

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $806820407 |
|  Aggregate gross unrealized depreciation | (87747761) |
|  Net unrealized appreciation | $719072646 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1050070356 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC AGGRESSIVE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (5.0%)** |  |  |
|  ***Diversified Telecommunication Services (0.6%)*** |  |  |
|  AT&T, Inc. | 48162 | $1360095 |
|  BT Group plc | 56972 | 146462 |
|  Cellnex Telecom SA(m) | 4712 | 163142 |
|  Deutsche Telekom AG (Registered) | 33258 | 1132741 |
|  Elisa OYJ | 1355 | 71047 |
|  HKT Trust & HKT Ltd. | 35818 | 53023 |
|  Infrastrutture Wireless Italiane SpA(m) | 2664 | 31308 |
|  Koninklijke KPN NV | 37052 | 177788 |
|  NTT, Inc. | 284766 | 297889 |
|  Orange SA | 17743 | 287678 |
|  Singapore Telecommunications Ltd. | 70809 | 226707 |
|  Swisscom AG (Registered) | 247 | 179188 |
|  Telecom Italia SpA\* | 101441 | 53034 |
|  Telefonica SA | 35115 | 181315 |
|  Telenor ASA | 5866 | 97223 |
|  Telia Co. AB | 22477 | 85688 |
|  Telstra Group Ltd. | 37247 | 118795 |
|  Verizon Communications, Inc. | 28399 | 1248136 |
|  |  | 5911259 |
|  ***Entertainment (0.9%)*** |  |  |
|  Bollore SE | 6698 | 37872 |
|  Capcom Co. Ltd. | 3268 | 88901 |
|  CTS Eventim AG & Co. KGaA | 594 | 58162 |
|  Electronic Arts, Inc. | 1517 | 305979 |
|  Konami Group Corp. | 915 | 132098 |
|  Live Nation Entertainment, Inc.\* | 1062 | 173531 |
|  Netflix, Inc.\* | 2862 | 3431309 |
|  Nexon Co. Ltd. | 3162 | 69426 |
|  Nintendo Co. Ltd. | 10563 | 914624 |
|  Spotify Technology SA\* | 1457 | 1016986 |
|  Take-Two Interactive Software, Inc.\* | 1168 | 301765 |
|  TKO Group Holdings, Inc., Class A | 465 | 93911 |
|  Toho Co. Ltd. | 980 | 62954 |
|  Universal Music Group NV | 10486 | 302360 |
|  Walt Disney Co. (The) | 12110 | 1386595 |
|  Warner Bros Discovery, Inc.\* | 16676 | 325682 |
|  |  | 8702155 |
|  ***Interactive Media & Services (3.0%)*** |  |  |
|  Alphabet, Inc., Class A | 39181 | 9524901 |
|  Alphabet, Inc., Class C | 31454 | 7660622 |
|  Auto Trader Group plc(m) | 8311 | 88101 |
|  CAR Group Ltd. | 3600 | 87614 |
|  LY Corp. | 26462 | 85191 |
|  Match Group, Inc. | 1621 | 57254 |
|  Meta Platforms, Inc., Class A | 14599 | 10721214 |
|  REA Group Ltd. | 503 | 76905 |
|  Scout24 SE(m) | 715 | 89485 |
|  |  | 28391287 |
|  ***Media (0.2%)*** |  |  |
|  Charter Communications, Inc., Class A(x)\* | 626 | 172216 |
|  Comcast Corp., Class A | 24805 | 779373 |
|  Fox Corp., Class A | 1414 | 89167 |
|  Fox Corp., Class B | 889 | 50931 |
|  Informa plc | 12432 | 153421 |
|  Interpublic Group of Cos., Inc. (The) | 2467 | 68854 |
|  News Corp., Class A | 2536 | 77880 |
|  News Corp., Class B(x) | 749 | 25878 |
|  Omnicom Group, Inc. | 1305 | 106397 |
|  Paramount Skydance Corp., Class B(x) | 2080 | 39354 |
|  Publicis Groupe SA | 2181 | 209150 |
|  Trade Desk, Inc. (The), Class A\* | 3002 | 147128 |
|  WPP plc | 10278 | 50840 |
|  |  | 1970589 |
|  ***Wireless Telecommunication Services (0.3%)*** |  |  |
|  KDDI Corp. | 29966 | 478309 |
|  SoftBank Corp. | 273320 | 402352 |
|  SoftBank Group Corp. | 9073 | 1146357 |
|  Tele2 AB, Class B | 5215 | 88935 |
|  T-Mobile US, Inc. | 3260 | 780379 |
|  Vodafone Group plc | 185528 | 214983 |
|  |  | 3111315 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 48086605 |
|  **Consumer Discretionary (6.2%)** |  |  |
|  ***Automobile Components (0.1%)*** |  |  |
|  Aisin Corp. | 4737 | 82001 |
|  Aptiv plc\* | 1467 | 126485 |
|  Bridgestone Corp. | 5401 | 250100 |
|  Cie Generale des Etablissements Michelin SCA | 6389 | 229081 |
|  Continental AG | 1048 | 69050 |
|  Denso Corp. | 16624 | 240055 |
|  Sumitomo Electric Industries Ltd. | 6821 | 194549 |
|  |  | 1191321 |
|  ***Automobiles (1.4%)*** |  |  |
|  Bayerische Motoren Werke AG | 2673 | 268131 |
|  Bayerische Motoren Werke AG (Preference)(q) | 533 | 49404 |
|  Dr Ing hc F Porsche AG (Preference)(m)(q)(x) | 1085 | 52584 |
|  Ferrari NV | 1201 | 580370 |
|  Ford Motor Co. | 26329 | 314895 |
|  General Motors Co. | 6413 | 391001 |
|  Honda Motor Co. Ltd.(x) | 37777 | 391092 |
|  Isuzu Motors Ltd.(x) | 5101 | 64485 |
|  Mercedes-Benz Group AG | 6881 | 431965 |
|  Nissan Motor Co. Ltd.\* | 21213 | 52184 |
|  Porsche Automobil Holding SE (Preference)(q) | 1459 | 57298 |
|  Renault SA | 1831 | 74809 |
|  Stellantis NV | 19211 | 177370 |
|  Subaru Corp. | 5593 | 114594 |
|  Suzuki Motor Corp. | 15015 | 219359 |
|  Tesla, Inc.\* | 18901 | 8405653 |
|  Toyota Motor Corp. | 90290 | 1739739 |
|  Volkswagen AG (Preference)(q) | 1965 | 212152 |
|  Yamaha Motor Co. Ltd. | 8706 | 65346 |
|  |  | 13662431 |
|  ***Broadline Retail (1.8%)*** |  |  |
|  Amazon.com, Inc.\* | 65370 | 14353291 |
|  eBay, Inc. | 3078 | 279944 |
|  Next plc | 1112 | 185072 |
|  Pan Pacific International Holdings Corp. | 18000 | 118673 |
|  Prosus NV | 12466 | 877264 |
|  Rakuten Group, Inc.\* | 14389 | 93397 |
|  Ryohin Keikaku Co. Ltd. | 4800 | 95588 |
|  Sea Ltd. (ADR)\* | 3645 | 651471 |
|  Wesfarmers Ltd. | 10813 | 658399 |
|  |  | 17313099 |
|  ***Distributors (0.0%)†*** |  |  |
|  D'ieteren Group | 205 | 38316 |
|  Genuine Parts Co. | 937 | 129868 |
|  LKQ Corp. | 1733 | 52926 |
|  Pool Corp. | 221 | 68526 |
|  |  | 289636 |
|  ***Diversified Consumer Services (0.0%)†*** |  |  |
|  Pearson plc | 5587 | 79385 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/AB DYNAMIC AGGRESSIVE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***Hotels, Restaurants & Leisure (1.0%)*** |  |  |
|  Accor SA | 1867 | $88336 |
|  Airbnb, Inc., Class A\* | 2890 | 350904 |
|  Amadeus IT Group SA | 4292 | 340134 |
|  Aristocrat Leisure Ltd. | 5349 | 247689 |
|  Booking Holdings, Inc. | 218 | 1177041 |
|  Carnival Corp.\* | 7313 | 211419 |
|  Chipotle Mexican Grill, Inc.\* | 9032 | 353964 |
|  Compass Group plc | 16173 | 550084 |
|  Darden Restaurants, Inc. | 788 | 150004 |
|  Delivery Hero SE(m)\* | 1831 | 52474 |
|  Domino's Pizza, Inc. | 210 | 90659 |
|  DoorDash, Inc., Class A\* | 2493 | 678071 |
|  Entain plc | 5788 | 68019 |
|  Evolution AB(m) | 1363 | 111971 |
|  Expedia Group, Inc. | 796 | 170145 |
|  FDJ United | 1059 | 35435 |
|  Galaxy Entertainment Group Ltd. | 21292 | 117323 |
|  Genting Singapore Ltd. | 55791 | 31789 |
|  Hilton Worldwide Holdings, Inc. | 1584 | 410953 |
|  InterContinental Hotels Group plc | 1400 | 168968 |
|  Las Vegas Sands Corp. | 2081 | 111937 |
|  Lottery Corp. Ltd. (The) | 20897 | 81306 |
|  Marriott International, Inc., Class A | 1518 | 395348 |
|  McDonald's Corp. | 4807 | 1460799 |
|  MGM Resorts International\* | 1375 | 47657 |
|  Norwegian Cruise Line Holdings Ltd.\* | 3044 | 74974 |
|  Oriental Land Co. Ltd.(x) | 10338 | 249353 |
|  Royal Caribbean Cruises Ltd. | 1701 | 550410 |
|  Sands China Ltd. | 23149 | 64551 |
|  Sodexo SA | 843 | 53000 |
|  Starbucks Corp. | 7656 | 647698 |
|  Whitbread plc | 1666 | 72147 |
|  Wynn Resorts Ltd. | 569 | 72986 |
|  Yum! Brands, Inc. | 1869 | 284088 |
|  Zensho Holdings Co. Ltd. | 881 | 57619 |
|  |  | 9629255 |
|  ***Household Durables (0.4%)*** |  |  |
|  Barratt Redrow plc | 13031 | 68332 |
|  DR Horton, Inc. | 1867 | 316400 |
|  Garmin Ltd. | 1102 | 271334 |
|  Lennar Corp., Class A | 1533 | 193219 |
|  Mohawk Industries, Inc.\* | 352 | 45380 |
|  NVR, Inc.\* | 19 | 152659 |
|  Panasonic Holdings Corp. | 22236 | 242080 |
|  PulteGroup, Inc. | 1329 | 175601 |
|  Sekisui House Ltd. | 5734 | 130550 |
|  Sony Group Corp. | 58565 | 1686637 |
|  |  | 3282192 |
|  ***Leisure Products (0.0%)†*** |  |  |
|  Bandai Namco Holdings, Inc. | 5559 | 185131 |
|  Hasbro, Inc. | 897 | 68037 |
|  Shimano, Inc. | 696 | 78126 |
|  |  | 331294 |
|  ***Specialty Retail (0.9%)*** |  |  |
|  AutoZone, Inc.\* | 113 | 484797 |
|  Avolta AG | 837 | 45275 |
|  Best Buy Co., Inc. | 1324 | 100121 |
|  CarMax, Inc.\* | 1011 | 45364 |
|  Fast Retailing Co. Ltd. | 1795 | 546687 |
|  H & M Hennes & Mauritz AB, Class B(x) | 5373 | 100019 |
|  Home Depot, Inc. (The) | 6701 | 2715178 |
|  Industria de Diseno Textil SA | 10394 | 573178 |
|  JD Sports Fashion plc | 24169 | 30977 |
|  Kingfisher plc | 16722 | 69425 |
|  Lowe's Cos., Inc. | 3775 | 948695 |
|  Nitori Holdings Co. Ltd.(x) | 3650 | 70428 |
|  O'Reilly Automotive, Inc.\* | 5715 | 616134 |
|  Ross Stores, Inc. | 2203 | 335715 |
|  Sanrio Co. Ltd.(x) | 1700 | 79905 |
|  TJX Cos., Inc. (The) | 7514 | 1086074 |
|  Tractor Supply Co. | 3570 | 203026 |
|  Ulta Beauty, Inc.\* | 303 | 165665 |
|  Williams-Sonoma, Inc. | 828 | 161833 |
|  Zalando SE(m)\* | 2139 | 65319 |
|  ZOZO, Inc.(x) | 4234 | 38937 |
|  |  | 8482752 |
|  ***Textiles, Apparel & Luxury Goods (0.6%)*** |  |  |
|  adidas AG | 1629 | 343107 |
|  Asics Corp. | 6652 | 174166 |
|  Cie Financiere Richemont SA (Registered) | 5122 | 975435 |
|  Deckers Outdoor Corp.\* | 999 | 101269 |
|  Hermes International SCA | 302 | 738555 |
|  Kering SA | 709 | 235195 |
|  Lululemon Athletica, Inc.\* | 735 | 130779 |
|  LVMH Moet Hennessy Louis Vuitton SE | 2383 | 1456235 |
|  Moncler SpA | 2225 | 130274 |
|  NIKE, Inc., Class B | 8002 | 557979 |
|  Pandora A/S | 753 | 98110 |
|  Ralph Lauren Corp. | 261 | 81839 |
|  Swatch Group AG (The)(x) | 276 | 51816 |
|  Tapestry, Inc. | 1402 | 158734 |
|  |  | 5233493 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 59494858 |
|  **Consumer Staples (3.4%)** |  |  |
|  ***Beverages (0.6%)*** |  |  |
|  Anheuser-Busch InBev SA/NV | 9418 | 561706 |
|  Asahi Group Holdings Ltd. | 13761 | 165214 |
|  Brown-Forman Corp., Class B | 1186 | 32117 |
|  Carlsberg A/S, Class B | 896 | 104114 |
|  Coca-Cola Co. (The) | 26089 | 1730222 |
|  Coca-Cola Europacific Partners plc | 2195 | 198450 |
|  Coca-Cola HBC AG | 2078 | 97926 |
|  Constellation Brands, Inc., Class A | 962 | 129553 |
|  Davide Campari-Milano NV(x) | 5865 | 36977 |
|  Diageo plc | 21204 | 506324 |
|  Heineken Holding NV | 1235 | 84605 |
|  Heineken NV | 2744 | 213978 |
|  Keurig Dr Pepper, Inc. | 9150 | 233417 |
|  Kirin Holdings Co. Ltd. | 7382 | 108195 |
|  Molson Coors Beverage Co., Class B | 1141 | 51630 |
|  Monster Beverage Corp.\* | 4801 | 323155 |
|  PepsiCo, Inc. | 9222 | 1295138 |
|  Pernod Ricard SA | 1923 | 188608 |
|  Suntory Beverage & Food Ltd. | 1335 | 41751 |
|  |  | 6103080 |
|  ***Consumer Staples Distribution & Retail (0.9%)*** |  |  |
|  Aeon Co. Ltd. | 21168 | 256933 |
|  Carrefour SA | 5612 | 84962 |
|  Coles Group Ltd. | 12779 | 196937 |
|  Costco Wholesale Corp. | 2987 | 2764857 |
|  Dollar General Corp. | 1482 | 153165 |
|  Dollar Tree, Inc.\* | 1307 | 123342 |
|  J Sainsbury plc | 16428 | 73794 |
|  Jeronimo Martins SGPS SA | 2698 | 65569 |
|  Kesko OYJ, Class B | 2602 | 55293 |
|  Kobe Bussan Co. Ltd. | 1386 | 38088 |
|  Koninklijke Ahold Delhaize NV | 8650 | 349858 |
|  Kroger Co. (The) | 4097 | 276179 |
|  Marks & Spencer Group plc | 19591 | 96038 |
|  MatsukiyoCocokara & Co. | 3084 | 62646 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/AB DYNAMIC AGGRESSIVE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Seven & i Holdings Co. Ltd. | 19886 | $267729 |
|  Sysco Corp. | 3216 | 264805 |
|  Target Corp. | 3060 | 274482 |
|  Tesco plc | 62551 | 374776 |
|  Walmart, Inc. | 29564 | 3046866 |
|  Woolworths Group Ltd. | 11640 | 205648 |
|  |  | 9031967 |
|  ***Food Products (0.7%)*** |  |  |
|  Ajinomoto Co., Inc. | 8650 | 248354 |
|  Archer-Daniels-Midland Co. | 3236 | 193319 |
|  Associated British Foods plc | 3078 | 84903 |
|  Barry Callebaut AG (Registered)(x) | 34 | 46555 |
|  Bunge Global SA | 943 | 76619 |
|  Campbell's Co. (The)(x) | 1325 | 41843 |
|  Chocoladefabriken Lindt & Spruengli AG | 9 | 137479 |
|  Chocoladefabriken Lindt & Spruengli AG (Registered) | 1 | 150242 |
|  Conagra Brands, Inc. | 3227 | 59086 |
|  Danone SA | 6168 | 537033 |
|  General Mills, Inc. | 3601 | 181562 |
|  Hershey Co. (The) | 998 | 186676 |
|  Hormel Foods Corp. | 1963 | 48565 |
|  J M Smucker Co. (The) | 719 | 78083 |
|  JDE Peet's NV | 1628 | 59634 |
|  Kellanova | 1811 | 148538 |
|  Kerry Group plc, Class A | 1560 | 140569 |
|  Kikkoman Corp.(x) | 6505 | 55204 |
|  Kraft Heinz Co. (The) | 5740 | 149470 |
|  Lamb Weston Holdings, Inc. | 939 | 54537 |
|  Lotus Bakeries NV | 4 | 37664 |
|  McCormick & Co., Inc. (Non- Voting) | 1704 | 114015 |
|  Meiji Holdings Co. Ltd.(x) | 2273 | 47125 |
|  Mondelez International, Inc., Class A | 8715 | 544426 |
|  Mowi ASA | 4434 | 93660 |
|  Nestle SA (Registered) | 24551 | 2253554 |
|  Nissin Foods Holdings Co. Ltd.(x) | 1876 | 35342 |
|  Orkla ASA | 6678 | 69727 |
|  Salmar ASA | 637 | 34022 |
|  Tyson Foods, Inc., Class A | 1925 | 104527 |
|  WH Group Ltd.(m) | 81558 | 88350 |
|  Wilmar International Ltd. | 18116 | 40025 |
|  Yakult Honsha Co. Ltd.(x) | 2356 | 38418 |
|  |  | 6179126 |
|  ***Household Products (0.5%)*** |  |  |
|  Church & Dwight Co., Inc. | 1641 | 143801 |
|  Clorox Co. (The) | 824 | 101599 |
|  Colgate-Palmolive Co. | 5444 | 435193 |
|  Essity AB, Class B | 5738 | 149813 |
|  Henkel AG & Co. KGaA | 990 | 73400 |
|  Henkel AG & Co. KGaA (Preference)(q) | 1528 | 123244 |
|  Kimberly-Clark Corp. | 2235 | 277900 |
|  Procter & Gamble Co. (The) | 15777 | 2424136 |
|  Reckitt Benckiser Group plc | 6472 | 497706 |
|  Unicharm Corp. | 10628 | 68949 |
|  |  | 4295741 |
|  ***Personal Care Products (0.3%)*** |  |  |
|  Beiersdorf AG | 928 | 96967 |
|  Estee Lauder Cos., Inc. (The), Class A | 1578 | 139054 |
|  Kao Corp. | 4444 | 193855 |
|  Kenvue, Inc. | 12926 | 209789 |
|  L'Oreal SA | 2291 | 991172 |
|  Shiseido Co. Ltd. | 3843 | 65668 |
|  Unilever plc | 23361 | 1382401 |
|  |  | 3078906 |
|  ***Tobacco (0.4%)*** |  |  |
|  Altria Group, Inc. | 11315 | 747469 |
|  British American Tobacco plc | 19862 | 1054338 |
|  Imperial Brands plc | 7356 | 312424 |
|  Japan Tobacco, Inc. | 11430 | 375783 |
|  Philip Morris International, Inc. | 10485 | 1700667 |
|  |  | 4190681 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 32879501 |
|  **Energy (1.8%)** |  |  |
|  ***Energy Equipment & Services (0.1%)*** |  |  |
|  Baker Hughes Co. | 6640 | 323501 |
|  Halliburton Co. | 5743 | 141278 |
|  Schlumberger NV | 10049 | 345384 |
|  Tenaris SA | 3574 | 63738 |
|  |  | 873901 |
|  ***Oil, Gas & Consumable Fuels (1.7%)*** |  |  |
|  Aker BP ASA | 3011 | 76365 |
|  APA Corp. | 2410 | 58515 |
|  BP plc | 151133 | 865374 |
|  Chevron Corp. | 12963 | 2013024 |
|  ConocoPhillips | 8412 | 795691 |
|  Coterra Energy, Inc. | 5140 | 121561 |
|  Devon Energy Corp. | 4276 | 149917 |
|  Diamondback Energy, Inc. | 1267 | 181308 |
|  ENEOS Holdings, Inc. | 25742 | 163606 |
|  Eni SpA(x) | 19488 | 340132 |
|  EOG Resources, Inc. | 3678 | 412377 |
|  EQT Corp. | 4203 | 228769 |
|  Equinor ASA | 7308 | 178241 |
|  Expand Energy Corp. | 1604 | 170409 |
|  Exxon Mobil Corp. | 28716 | 3237729 |
|  Galp Energia SGPS SA | 3975 | 75136 |
|  Idemitsu Kosan Co. Ltd.(x) | 7337 | 50407 |
|  Inpex Corp. | 8401 | 151847 |
|  Kinder Morgan, Inc. | 13171 | 372871 |
|  Marathon Petroleum Corp. | 2048 | 394732 |
|  Neste OYJ | 4031 | 73758 |
|  Occidental Petroleum Corp. | 4840 | 228690 |
|  OMV AG | 1403 | 74816 |
|  ONEOK, Inc. | 4242 | 309539 |
|  Phillips 66 | 2722 | 370246 |
|  Repsol SA | 11027 | 195035 |
|  Santos Ltd. | 30940 | 137783 |
|  Shell plc | 56149 | 1998499 |
|  Targa Resources Corp. | 1449 | 242765 |
|  Texas Pacific Land Corp. | 130 | 121373 |
|  TotalEnergies SE | 19562 | 1188071 |
|  Valero Energy Corp. | 2092 | 356184 |
|  Williams Cos., Inc. (The) | 8225 | 521054 |
|  Woodside Energy Group Ltd. | 18093 | 275718 |
|  |  | 16131542 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 17005443 |
|  **Financials (10.2%)** |  |  |
|  ***Banks (4.2%)*** |  |  |
|  ABN AMRO Bank NV (CVA)(m) | 5556 | 177752 |
|  AIB Group plc | 20358 | 184399 |
|  ANZ Group Holdings Ltd. | 28428 | 624707 |
|  Banca Monte dei Paschi di Siena SpA | 18815 | 166557 |
|  Banco Bilbao Vizcaya Argentaria SA | 54913 | 1053450 |
|  Banco BPM SpA | 10826 | 161738 |
|  Banco Comercial Portugues SA, Class R | 79193 | 70030 |
|  Banco de Sabadell SA | 46886 | 181653 |
|  Banco Santander SA | 141832 | 1477679 |
|  Bank Hapoalim BM | 11910 | 242069 |
|  Bank Leumi Le-Israel BM | 14233 | 280561 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/AB DYNAMIC AGGRESSIVE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Bank of America Corp. | 45900 | $2367981 |
|  Bank of Ireland Group plc | 9178 | 151018 |
|  Bankinter SA | 6423 | 101086 |
|  Banque Cantonale Vaudoise (Registered) | 287 | 33854 |
|  Barclays plc | 134759 | 687977 |
|  BNP Paribas SA | 9698 | 880475 |
|  BOC Hong Kong Holdings Ltd. | 35204 | 165300 |
|  BPER Banca SpA | 13931 | 154332 |
|  CaixaBank SA | 37130 | 389978 |
|  Chiba Bank Ltd. (The)(x) | 5355 | 56289 |
|  Citigroup, Inc. | 12400 | 1258600 |
|  Citizens Financial Group, Inc. | 2905 | 154430 |
|  Commerzbank AG | 7337 | 276423 |
|  Commonwealth Bank of Australia | 15946 | 1761040 |
|  Credit Agricole SA | 10091 | 198087 |
|  Danske Bank A/S | 6365 | 271196 |
|  DBS Group Holdings Ltd. | 20148 | 798923 |
|  DNB Bank ASA | 8447 | 229806 |
|  Erste Group Bank AG | 2934 | 286596 |
|  Fifth Third Bancorp | 4458 | 198604 |
|  FinecoBank Banca Fineco SpA | 5826 | 125890 |
|  Hang Seng Bank Ltd. | 7184 | 109395 |
|  HSBC Holdings plc | 166206 | 2335893 |
|  Huntington Bancshares, Inc. | 9874 | 170524 |
|  ING Groep NV | 28788 | 746103 |
|  Intesa Sanpaolo SpA | 135717 | 894527 |
|  Israel Discount Bank Ltd., Class A | 11678 | 115433 |
|  Japan Post Bank Co. Ltd. | 17079 | 209554 |
|  JPMorgan Chase & Co. | 18521 | 5842079 |
|  KBC Group NV | 2188 | 260607 |
|  KeyCorp | 6278 | 117336 |
|  Lloyds Banking Group plc | 570762 | 643417 |
|  M&T Bank Corp. | 1053 | 208094 |
|  Mitsubishi UFJ Financial Group, Inc. | 109236 | 1768340 |
|  Mizrahi Tefahot Bank Ltd. | 1486 | 97760 |
|  Mizuho Financial Group, Inc. | 23971 | 808516 |
|  National Australia Bank Ltd. | 29186 | 852641 |
|  NatWest Group plc | 77168 | 541333 |
|  Nordea Bank Abp | 29755 | 488201 |
|  Oversea-Chinese Banking Corp. Ltd. | 31841 | 405803 |
|  PNC Financial Services Group, Inc. (The) | 2653 | 533067 |
|  Regions Financial Corp. | 6010 | 158484 |
|  Resona Holdings, Inc. | 19806 | 202299 |
|  Skandinaviska Enskilda Banken AB, Class A | 14425 | 281777 |
|  Societe Generale SA | 6863 | 454121 |
|  Standard Chartered plc | 18826 | 363456 |
|  Sumitomo Mitsui Financial Group, Inc. | 35197 | 993898 |
|  Sumitomo Mitsui Trust Group, Inc. | 6068 | 176396 |
|  Svenska Handelsbanken AB, Class A | 13897 | 180680 |
|  Swedbank AB, Class A | 8090 | 243360 |
|  Truist Financial Corp. | 8685 | 397078 |
|  UniCredit SpA | 13358 | 1011080 |
|  United Overseas Bank Ltd. | 12517 | 335546 |
|  US Bancorp | 10482 | 506595 |
|  Wells Fargo & Co. | 21577 | 1808584 |
|  Westpac Banking Corp. | 32607 | 840819 |
|  Yokohama Financial Group, Inc. | 9809 | 75416 |
|  |  | 40346692 |
|  ***Capital Markets (2.0%)*** |  |  |
|  3i Group plc | 9275 | 510060 |
|  Ameriprise Financial, Inc. | 635 | 311944 |
|  Amundi SA(m) | 587 | 46450 |
|  ASX Ltd. | 1851 | 71761 |
|  Bank of New York Mellon Corp. (The) | 4750 | 517560 |
|  BlackRock, Inc. | 970 | 1130894 |
|  Blackstone, Inc. | 4965 | 848270 |
|  Cboe Global Markets, Inc. | 704 | 172656 |
|  Charles Schwab Corp. (The) | 11493 | 1097237 |
|  CME Group, Inc. | 2427 | 655751 |
|  Coinbase Global, Inc., Class A\* | 1523 | 513997 |
|  CVC Capital Partners plc(m) | 2025 | 35234 |
|  Daiwa Securities Group, Inc.(x) | 12750 | 103674 |
|  Deutsche Bank AG (Registered) | 17636 | 620131 |
|  Deutsche Boerse AG | 1794 | 480435 |
|  EQT AB | 3528 | 122017 |
|  Euronext NV(m) | 745 | 111433 |
|  FactSet Research Systems, Inc. | 255 | 73055 |
|  Franklin Resources, Inc. | 2063 | 47717 |
|  Futu Holdings Ltd. (ADR) | 616 | 107128 |
|  Goldman Sachs Group, Inc. (The) | 2039 | 1623758 |
|  Hong Kong Exchanges & Clearing Ltd. | 11470 | 651474 |
|  Interactive Brokers Group, Inc., Class A | 2999 | 206361 |
|  Intercontinental Exchange, Inc. | 3856 | 649659 |
|  Invesco Ltd. | 3004 | 68912 |
|  Japan Exchange Group, Inc. | 9452 | 105619 |
|  Julius Baer Group Ltd. | 1962 | 135458 |
|  KKR & Co., Inc. | 4621 | 600499 |
|  London Stock Exchange Group plc | 4527 | 518485 |
|  Macquarie Group Ltd. | 3450 | 500701 |
|  Moody's Corp. | 1039 | 495063 |
|  Morgan Stanley | 8172 | 1299021 |
|  MSCI, Inc. | 521 | 295621 |
|  Nasdaq, Inc. | 3053 | 270038 |
|  Nomura Holdings, Inc. | 28673 | 210464 |
|  Northern Trust Corp. | 1288 | 173365 |
|  Partners Group Holding AG | 216 | 280430 |
|  Raymond James Financial, Inc. | 1195 | 206257 |
|  Robinhood Markets, Inc., Class A\* | 5213 | 746397 |
|  S&P Global, Inc. | 2105 | 1024524 |
|  SBI Holdings, Inc. | 2666 | 116025 |
|  Schroders plc | 6906 | 34922 |
|  Singapore Exchange Ltd. | 8150 | 104438 |
|  State Street Corp. | 1911 | 221695 |
| T. Rowe Price Group, Inc. | 1480 | 151907 |
|  UBS Group AG (Registered) | 30247 | 1235262 |
|  |  | 19503759 |
|  ***Consumer Finance (0.3%)*** |  |  |
|  American Express Co. | 3656 | 1214377 |
|  Capital One Financial Corp. | 4307 | 915582 |
|  Synchrony Financial | 2506 | 178051 |
|  |  | 2308010 |
|  ***Financial Services (1.8%)*** |  |  |
|  Adyen NV(m)\* | 240 | 384619 |
|  Apollo Global Management, Inc. | 3099 | 413004 |
|  Banca Mediolanum SpA | 2130 | 42637 |
|  Berkshire Hathaway, Inc., Class B\* | 12351 | 6209342 |
|  Block, Inc., Class A\* | 3702 | 267543 |
|  Corpay, Inc.\* | 476 | 137116 |
|  Edenred SE | 2285 | 54191 |
|  EXOR NV | 891 | 87034 |
|  Fidelity National Information Services, Inc. | 3519 | 232043 |
|  Fiserv, Inc.\* | 3661 | 472013 |
|  Global Payments, Inc. | 1634 | 135753 |
|  Groupe Bruxelles Lambert NV | 761 | 67947 |
|  Industrivarden AB, Class A | 1129 | 44755 |
|  Industrivarden AB, Class C(x) | 1485 | 58820 |
|  Infratil Ltd. | 8866 | 63480 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/AB DYNAMIC AGGRESSIVE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Investor AB, Class B | 16491 | $515081 |
|  Jack Henry & Associates, Inc. | 490 | 72976 |
|  L E Lundbergforetagen AB, Class B | 724 | 37560 |
|  M&G plc | 21765 | 74057 |
|  Mastercard, Inc., Class A | 5560 | 3162583 |
|  Mitsubishi HC Capital, Inc. | 8381 | 69282 |
|  Nexi SpA(m)(x) | 5274 | 29820 |
|  ORIX Corp.(x) | 11113 | 291718 |
|  PayPal Holdings, Inc.\* | 6435 | 431531 |
|  Sofina SA | 147 | 43319 |
|  Visa, Inc., Class A | 11442 | 3906070 |
|  Washington H Soul Pattinson & Co. Ltd. | 2278 | 58018 |
|  Wise plc, Class A\* | 6347 | 88348 |
|  |  | 17450660 |
|  ***Insurance (1.9%)*** |  |  |
|  Admiral Group plc | 2480 | 111801 |
|  Aegon Ltd. | 12597 | 101042 |
|  Aflac, Inc. | 3242 | 362131 |
|  Ageas SA/NV | 1421 | 98264 |
|  AIA Group Ltd. | 101357 | 972288 |
|  Allianz SE (Registered) | 3680 | 1544148 |
|  Allstate Corp. (The) | 1775 | 381004 |
|  American International Group, Inc. | 3732 | 293111 |
|  Aon plc, Class A | 1452 | 517754 |
|  Arch Capital Group Ltd. | 2504 | 227188 |
|  Arthur J Gallagher & Co. | 1727 | 534921 |
|  ASR Nederland NV | 1381 | 93682 |
|  Assurant, Inc. | 340 | 73644 |
|  Aviva plc | 29129 | 268666 |
|  AXA SA | 16889 | 805831 |
|  Baloise Holding AG (Registered) | 393 | 96960 |
|  Brown & Brown, Inc. | 1974 | 185141 |
|  Chubb Ltd. | 2497 | 704778 |
|  Cincinnati Financial Corp. | 1047 | 165531 |
|  Dai-ichi Life Holdings, Inc. | 33472 | 263910 |
|  Erie Indemnity Co., Class A | 171 | 54405 |
|  Everest Group Ltd. | 283 | 99115 |
|  Generali | 8122 | 318586 |
|  Gjensidige Forsikring ASA | 1905 | 55855 |
|  Globe Life, Inc. | 546 | 78062 |
|  Hannover Rueck SE | 574 | 172924 |
|  Hartford Insurance Group, Inc. (The) | 1894 | 252641 |
|  Helvetia Holding AG (Registered) | 354 | 86582 |
|  Insurance Australia Group Ltd. | 22533 | 122263 |
|  Japan Post Holdings Co. Ltd. | 16981 | 168794 |
|  Japan Post Insurance Co. Ltd. | 1810 | 51319 |
|  Legal & General Group plc | 54642 | 174901 |
|  Loews Corp. | 1146 | 115047 |
|  Marsh & McLennan Cos., Inc. | 3311 | 667266 |
|  Medibank Pvt Ltd. | 26237 | 83680 |
|  MetLife, Inc. | 3763 | 309958 |
|  MS&AD Insurance Group Holdings, Inc. | 12218 | 277267 |
|  Muenchener Rueckversicherungs- Gesellschaft AG in Muenchen (Registered) | 1245 | 794284 |
|  NN Group NV | 2563 | 180245 |
|  Phoenix Financial Ltd. | 2153 | 80603 |
|  Phoenix Group Holdings plc | 6693 | 57924 |
|  Poste Italiane SpA(m) | 4355 | 103231 |
|  Principal Financial Group, Inc. | 1365 | 113172 |
|  Progressive Corp. (The) | 3948 | 974959 |
|  Prudential Financial, Inc. | 2371 | 245968 |
|  Prudential plc | 24599 | 344396 |
|  QBE Insurance Group Ltd. | 14387 | 196014 |
|  Sampo OYJ, Class A | 23071 | 264852 |
|  Sompo Holdings, Inc. | 8419 | 260452 |
|  Sony Financial Group, Inc.\* | 58565 | 64947 |
|  Suncorp Group Ltd. | 10316 | 138297 |
|  Swiss Life Holding AG (Registered) | 272 | 292347 |
|  Swiss Re AG | 2847 | 525911 |
|  T&D Holdings, Inc.(x) | 4702 | 115161 |
|  Talanx AG | 615 | 81735 |
|  Tokio Marine Holdings, Inc. | 17515 | 742479 |
|  Travelers Cos., Inc. (The) | 1516 | 423298 |
|  Tryg A/S | 3204 | 81284 |
|  Unipol Assicurazioni SpA | 3418 | 73276 |
|  W.R. Berkley Corp. | 2016 | 154466 |
|  Willis Towers Watson plc | 657 | 226961 |
|  Zurich Insurance Group AG | 1395 | 992911 |
|  |  | 18419633 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 98028754 |
|  **Health Care (5.6%)** |  |  |
|  ***Biotechnology (0.8%)*** |  |  |
|  AbbVie, Inc. | 11899 | 2755095 |
|  Amgen, Inc. | 3626 | 1023257 |
|  Argenx SE\* | 583 | 422456 |
|  Biogen, Inc.\* | 988 | 138399 |
|  CSL Ltd. | 4614 | 605121 |
|  Genmab A/S\* | 581 | 176135 |
|  Gilead Sciences, Inc. | 8358 | 927738 |
|  Grifols SA | 2842 | 41124 |
|  Incyte Corp.\* | 1105 | 93715 |
|  Moderna, Inc.\* | 2332 | 60236 |
|  Regeneron Pharmaceuticals, Inc. | 686 | 385717 |
|  Swedish Orphan Biovitrum AB\* | 1865 | 56815 |
|  Vertex Pharmaceuticals, Inc.\* | 1727 | 676362 |
|  |  | 7362170 |
|  ***Health Care Equipment & Supplies (1.1%)*** |  |  |
|  Abbott Laboratories | 11723 | 1570179 |
|  Alcon AG | 4761 | 354421 |
|  Align Technology, Inc.\* | 454 | 56850 |
|  Baxter International, Inc. | 3460 | 78784 |
|  Becton Dickinson & Co. | 1931 | 361425 |
|  BioMerieux | 395 | 52775 |
|  Boston Scientific Corp.\* | 9980 | 974347 |
|  Cochlear Ltd. | 623 | 115118 |
|  Coloplast A/S, Class B | 1201 | 102570 |
|  Cooper Cos., Inc. (The)\* | 1344 | 92145 |
|  Demant A/S\* | 815 | 28226 |
|  Dexcom, Inc.\* | 2641 | 177713 |
|  Edwards Lifesciences Corp.\* | 3954 | 307503 |
|  EssilorLuxottica SA | 2869 | 929664 |
|  Fisher & Paykel Healthcare Corp. Ltd. | 5585 | 119964 |
|  GE HealthCare Technologies, Inc. | 3075 | 230932 |
|  Hologic, Inc.\* | 1498 | 101100 |
|  Hoya Corp. | 3297 | 456477 |
|  IDEXX Laboratories, Inc.\* | 539 | 344362 |
|  Insulet Corp.\* | 474 | 146338 |
|  Intuitive Surgical, Inc.\* | 2415 | 1080060 |
|  Koninklijke Philips NV | 7340 | 198548 |
|  Medtronic plc | 8630 | 821921 |
|  Olympus Corp. | 10814 | 136816 |
|  ResMed, Inc. | 986 | 269898 |
|  Siemens Healthineers AG(m) | 3224 | 174192 |
|  Smith & Nephew plc | 7927 | 142591 |
|  Solventum Corp.\* | 993 | 72489 |
|  Sonova Holding AG (Registered) | 483 | 131421 |
|  STERIS plc | 663 | 164053 |
|  Straumann Holding AG (Registered) | 1063 | 113371 |
|  Stryker Corp. | 2318 | 856895 |
|  Sysmex Corp. | 4827 | 59552 |
|  Terumo Corp. | 12720 | 210129 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/AB DYNAMIC AGGRESSIVE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Zimmer Biomet Holdings, Inc. | 1334 | $131399 |
|  |  | 11164228 |
|  ***Health Care Providers & Services (0.7%)*** |  |  |
|  Cardinal Health, Inc. | 1608 | 252392 |
|  Cencora, Inc. | 1306 | 408164 |
|  Centene Corp.\* | 3143 | 112142 |
|  Cigna Group (The) | 1798 | 518273 |
|  CVS Health Corp. | 8543 | 644057 |
|  DaVita, Inc.\* | 241 | 32022 |
|  Elevance Health, Inc. | 1517 | 490173 |
|  Fresenius Medical Care AG | 2096 | 109900 |
|  Fresenius SE & Co. KGaA | 4025 | 223991 |
|  HCA Healthcare, Inc. | 1103 | 470099 |
|  Henry Schein, Inc.\* | 694 | 46061 |
|  Humana, Inc. | 810 | 210738 |
|  Labcorp Holdings, Inc. | 560 | 160754 |
|  McKesson Corp. | 838 | 647388 |
|  Molina Healthcare, Inc.\* | 365 | 69846 |
|  Quest Diagnostics, Inc. | 753 | 143507 |
|  Sigma Healthcare Ltd. | 43990 | 86451 |
|  Sonic Healthcare Ltd. | 4473 | 63458 |
|  UnitedHealth Group, Inc. | 6100 | 2106330 |
|  Universal Health Services, Inc., Class B | 380 | 77687 |
|  |  | 6873433 |
|  ***Health Care Technology (0.0%)†*** |  |  |
|  M3, Inc.(x) | 4209 | 67909 |
|  Pro Medicus Ltd. | 547 | 111585 |
|  |  | 179494 |
|  ***Life Sciences Tools & Services (0.4%)*** |  |  |
|  Agilent Technologies, Inc. | 1913 | 245533 |
|  Bio-Techne Corp. | 1056 | 58745 |
|  Charles River Laboratories International, Inc.\* | 331 | 51788 |
|  Danaher Corp. | 4292 | 850932 |
|  Eurofins Scientific SE | 1128 | 81817 |
|  IQVIA Holdings, Inc.\* | 1145 | 217481 |
|  Lonza Group AG (Registered) | 669 | 443059 |
|  Mettler-Toledo International, Inc.\* | 139 | 170638 |
|  QIAGEN NV | 2063 | 91300 |
|  Revvity, Inc. | 782 | 68542 |
|  Sartorius AG (Preference)(q) | 250 | 58086 |
|  Sartorius Stedim Biotech | 278 | 56155 |
|  Thermo Fisher Scientific, Inc. | 2543 | 1233406 |
|  Waters Corp.\* | 401 | 120224 |
|  West Pharmaceutical Services, Inc. | 484 | 126968 |
|  |  | 3874674 |
|  ***Pharmaceuticals (2.6%)*** |  |  |
|  Astellas Pharma, Inc.(x) | 17282 | 187036 |
|  AstraZeneca plc | 14776 | 2222114 |
|  Bayer AG (Registered) | 9361 | 310256 |
|  Bristol-Myers Squibb Co. | 13710 | 618321 |
|  Chugai Pharmaceutical Co. Ltd. | 6417 | 279791 |
|  Daiichi Sankyo Co. Ltd. | 16247 | 364194 |
|  Eisai Co. Ltd.(x) | 2530 | 85112 |
|  Eli Lilly & Co. | 5355 | 4085865 |
|  Galderma Group AG | 1247 | 216645 |
|  GSK plc | 38912 | 823979 |
|  Haleon plc | 85604 | 382688 |
|  Hikma Pharmaceuticals plc | 1585 | 36196 |
|  Ipsen SA | 359 | 47881 |
|  Johnson & Johnson | 16222 | 3007883 |
|  Kyowa Kirin Co. Ltd. | 2269 | 35266 |
|  Merck & Co., Inc. | 16824 | 1412038 |
|  Merck KGaA | 1231 | 158183 |
|  Novartis AG (Registered) | 18116 | 2278467 |
|  Novo Nordisk A/S, Class B | 30688 | 1663501 |
|  Orion OYJ, Class B | 1037 | 79319 |
|  Otsuka Holdings Co. Ltd. | 4111 | 218469 |
|  Pfizer, Inc. | 38295 | 975757 |
|  Recordati Industria Chimica e Farmaceutica SpA | 1096 | 66525 |
|  Roche Holding AG (BMV Mexico Stock Exchange) | 6694 | 2185504 |
|  Roche Holding AG (OTC US Exchange) | 305 | 104291 |
|  Sandoz Group AG | 3983 | 236013 |
|  Sanofi SA | 10528 | 970909 |
|  Shionogi & Co. Ltd. | 7215 | 126434 |
|  Takeda Pharmaceutical Co. Ltd. | 15113 | 440968 |
|  Teva Pharmaceutical Industries Ltd. (ADR)\* | 10928 | 220746 |
|  UCB SA | 1205 | 332462 |
|  Viatris, Inc. | 7853 | 77745 |
|  Zoetis, Inc. | 2985 | 436765 |
|  |  | 24687323 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 54141322 |
|  **Industrials (7.0%)** |  |  |
|  ***Aerospace & Defense (1.6%)*** |  |  |
|  Airbus SE | 5662 | 1312211 |
|  Axon Enterprise, Inc.\* | 529 | 379632 |
|  BAE Systems plc | 28704 | 794857 |
|  Boeing Co. (The)\* | 5093 | 1099222 |
|  Dassault Aviation SA | 187 | 62483 |
|  Elbit Systems Ltd. | 265 | 134172 |
|  GE Aerospace | 7143 | 2148757 |
|  General Dynamics Corp. | 1701 | 580041 |
|  Hensoldt AG | 605 | 78346 |
|  Howmet Aerospace, Inc. | 2715 | 532764 |
|  Huntington Ingalls Industries, Inc. | 264 | 76008 |
|  Kongsberg Gruppen ASA | 4190 | 133914 |
|  L3Harris Technologies, Inc. | 1260 | 384817 |
|  Leonardo SpA | 3856 | 244556 |
|  Lockheed Martin Corp. | 1384 | 690907 |
|  Melrose Industries plc | 12115 | 99195 |
|  MTU Aero Engines AG | 513 | 235434 |
|  Northrop Grumman Corp. | 907 | 552653 |
|  Rheinmetall AG | 437 | 1018167 |
|  Rolls-Royce Holdings plc | 80503 | 1288395 |
|  RTX Corp. | 9016 | 1508647 |
|  Saab AB, Class B(x) | 3052 | 186244 |
|  Safran SA | 3431 | 1208852 |
|  Singapore Technologies Engineering Ltd. | 15034 | 100347 |
|  Textron, Inc. | 1200 | 101388 |
|  Thales SA | 883 | 276381 |
|  TransDigm Group, Inc. | 380 | 500848 |
|  |  | 15729238 |
|  ***Air Freight & Logistics (0.2%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 795 | 105258 |
|  Deutsche Post AG | 9147 | 407439 |
|  DSV A/S | 1947 | 387223 |
|  Expeditors International of Washington, Inc. | 914 | 112047 |
|  FedEx Corp. | 1462 | 344754 |
|  InPost SA\* | 2382 | 29224 |
|  SG Holdings Co. Ltd.(x) | 2791 | 28857 |
|  United Parcel Service, Inc., Class B | 4958 | 414142 |
|  |  | 1828944 |
|  ***Building Products (0.4%)*** |  |  |
|  A.O. Smith Corp. | 770 | 56526 |
|  AGC, Inc. | 1870 | 61012 |
|  Allegion plc | 578 | 102508 |
|  Assa Abloy AB, Class B | 9550 | 331304 |
|  Belimo Holding AG (Registered) | 94 | 98186 |
|  Builders FirstSource, Inc.\* | 745 | 90331 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC AGGRESSIVE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Carrier Global Corp. | 5388 | $321664 |
|  Cie de Saint-Gobain SA | 4280 | 460586 |
|  Daikin Industries Ltd. | 2503 | 289084 |
|  Geberit AG (Registered) | 323 | 242316 |
|  Johnson Controls International plc | 4391 | 482790 |
|  Kingspan Group plc | 1474 | 122523 |
|  Lennox International, Inc. | 215 | 113812 |
|  Masco Corp. | 1410 | 99250 |
|  Nibe Industrier AB, Class B | 14438 | 56805 |
|  ROCKWOOL A/S, Class B | 919 | 34126 |
|  Trane Technologies plc | 1499 | 632518 |
|  |  | 3595341 |
|  ***Commercial Services & Supplies (0.3%)*** |  |  |
|  Brambles Ltd. | 13024 | 213726 |
|  Cintas Corp. | 2307 | 473535 |
|  Copart, Inc.\* | 5992 | 269460 |
|  Dai Nippon Printing Co. Ltd. | 3758 | 63923 |
|  Rentokil Initial plc | 24064 | 121623 |
|  Republic Services, Inc. | 1367 | 313699 |
|  Rollins, Inc. | 1893 | 111195 |
|  Secom Co. Ltd. | 4026 | 147689 |
|  Securitas AB, Class B | 4685 | 70466 |
|  TOPPAN Holdings, Inc. | 2263 | 58073 |
|  Veralto Corp. | 1672 | 178252 |
|  Waste Management, Inc. | 2496 | 551192 |
|  |  | 2572833 |
|  ***Construction & Engineering (0.2%)*** |  |  |
|  ACS Actividades de Construccion y |  |  |
|  Servicios SA | 1708 | 136359 |
|  Bouygues SA | 1824 | 82061 |
|  Eiffage SA | 654 | 83463 |
|  EMCOR Group, Inc. | 302 | 196161 |
|  Ferrovial SE | 4894 | 280280 |
|  Kajima Corp. | 4051 | 118228 |
|  Obayashi Corp. | 6158 | 101145 |
|  Quanta Services, Inc. | 1004 | 416077 |
|  Skanska AB, Class B | 3242 | 83991 |
|  Taisei Corp. | 1458 | 100266 |
|  Vinci SA | 4712 | 652514 |
|  |  | 2250545 |
|  ***Electrical Equipment (0.9%)*** |  |  |
|  ABB Ltd. (Registered) | 14934 | 1075331 |
|  AMETEK, Inc. | 1556 | 292528 |
|  Eaton Corp. plc | 2622 | 981284 |
|  Emerson Electric Co. | 3791 | 497303 |
|  Fuji Electric Co. Ltd.(x) | 1256 | 84455 |
|  Fujikura Ltd. | 2400 | 234588 |
|  GE Vernova, Inc. | 1834 | 1127727 |
|  Generac Holdings, Inc.\* | 395 | 66123 |
|  Hubbell, Inc., Class B | 358 | 154051 |
|  Legrand SA | 2499 | 412513 |
|  Mitsubishi Electric Corp. | 18101 | 465484 |
|  Nidec Corp. | 7904 | 140752 |
|  Prysmian SpA | 2683 | 265165 |
|  Rockwell Automation, Inc. | 757 | 264594 |
|  Schneider Electric SE | 5224 | 1457257 |
|  Siemens Energy AG\* | 6474 | 755672 |
|  Vestas Wind Systems A/S | 9622 | 181300 |
|  |  | 8456127 |
|  ***Ground Transportation (0.4%)*** |  |  |
|  Central Japan Railway Co. | 7336 | 210479 |
|  CSX Corp. | 12557 | 445899 |
|  East Japan Railway Co.(x) | 9166 | 224370 |
|  Grab Holdings Ltd., Class A\* | 22604 | 136076 |
|  Hankyu Hanshin Holdings, Inc. | 2323 | 68550 |
|  JB Hunt Transport Services, Inc. | 515 | 69097 |
|  MTR Corp. Ltd.(x) | 14557 | 49347 |
|  Norfolk Southern Corp. | 1511 | 453919 |
|  Old Dominion Freight Line, Inc. | 1246 | 175412 |
|  Tokyo Metro Co. Ltd.(x) | 2800 | 32083 |
|  Tokyu Corp. | 4802 | 58578 |
|  Uber Technologies, Inc.\* | 14047 | 1376185 |
|  Union Pacific Corp. | 3994 | 944062 |
|  West Japan Railway Co.(x) | 4039 | 88572 |
|  |  | 4332629 |
|  ***Industrial Conglomerates (0.5%)*** |  |  |
|  3M Co. | 3588 | 556786 |
|  CK Hutchison Holdings Ltd. | 25419 | 167403 |
|  DCC plc | 935 | 60007 |
|  Hikari Tsushin, Inc. | 186 | 51919 |
|  Hitachi Ltd. | 43625 | 1159321 |
|  Honeywell International, Inc. | 4276 | 900098 |
|  Investment AB Latour, Class B | 1411 | 33408 |
|  Jardine Matheson Holdings Ltd. | 1578 | 99414 |
|  Keppel Ltd. | 14265 | 98642 |
|  Lifco AB, Class B | 2221 | 74974 |
|  Sekisui Chemical Co. Ltd. | 3533 | 65818 |
|  Siemens AG (Registered) | 7242 | 1948766 |
|  Smiths Group plc | 3151 | 99673 |
|  Swire Pacific Ltd., Class A | 3581 | 30348 |
|  |  | 5346577 |
|  ***Machinery (1.2%)*** |  |  |
|  Alfa Laval AB | 2756 | 125411 |
|  Alstom SA\* | 3301 | 85727 |
|  Atlas Copco AB, Class A | 25592 | 431952 |
|  Atlas Copco AB, Class B | 14872 | 222660 |
|  Caterpillar, Inc. | 3155 | 1505408 |
|  Cummins, Inc. | 928 | 391959 |
|  Daifuku Co. Ltd. | 3054 | 97949 |
|  Daimler Truck Holding AG | 4527 | 186129 |
|  Deere & Co. | 1696 | 775513 |
|  Dover Corp. | 924 | 154151 |
|  Epiroc AB, Class A | 6278 | 132303 |
|  Epiroc AB, Class B | 3715 | 70004 |
|  FANUC Corp. | 8879 | 255890 |
|  Fortive Corp. | 2279 | 111648 |
|  GEA Group AG | 1396 | 103010 |
|  IDEX Corp. | 507 | 82519 |
|  IHI Corp. | 9800 | 182899 |
|  Illinois Tool Works, Inc. | 1787 | 465978 |
|  Indutrade AB | 2603 | 59667 |
|  Ingersoll Rand, Inc. | 2436 | 201262 |
|  Kawasaki Heavy Industries Ltd.(x) | 1400 | 92491 |
|  Knorr-Bremse AG | 691 | 64780 |
|  Komatsu Ltd. | 9026 | 314935 |
|  Kone OYJ, Class B | 3238 | 220491 |
|  Kubota Corp. | 9309 | 117271 |
|  Makita Corp. | 2183 | 70944 |
|  Metso OYJ | 6318 | 86675 |
|  Minebea Mitsumi, Inc. | 3500 | 66019 |
|  Mitsubishi Heavy Industries Ltd. | 30491 | 799774 |
|  Nordson Corp. | 362 | 82156 |
|  Otis Worldwide Corp. | 2644 | 241741 |
|  PACCAR, Inc. | 3537 | 347758 |
|  Parker-Hannifin Corp. | 861 | 652767 |
|  Pentair plc | 1104 | 122279 |
|  Rational AG | 49 | 37336 |
|  Sandvik AB | 10160 | 282534 |
|  Schindler Holding AG | 388 | 146807 |
|  Schindler Holding AG (Registered) | 224 | 80618 |
|  SKF AB, Class B | 3250 | 80504 |
|  SMC Corp. | 522 | 160357 |
|  Snap-on, Inc. | 351 | 121632 |
|  Spirax Group plc | 701 | 64250 |
|  Stanley Black & Decker, Inc. | 1043 | 77526 |
|  Techtronic Industries Co. Ltd. | 14032 | 179503 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC AGGRESSIVE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Toyota Industries Corp. | 1536 | $172831 |
|  Trelleborg AB, Class B | 1932 | 71929 |
|  VAT Group AG(m) | 257 | 101502 |
|  Volvo AB, Class B | 15137 | 433317 |
|  Wartsila OYJ Abp | 4791 | 143153 |
|  Westinghouse Air Brake Technologies Corp. | 1151 | 230741 |
|  Xylem, Inc. | 1640 | 241900 |
|  Yangzijiang Shipbuilding Holdings Ltd. | 25000 | 65313 |
|  |  | 11613873 |
|  ***Marine Transportation (0.1%)*** |  |  |
|  AP Moller - Maersk A/S, Class A(x) | 28 | 54740 |
|  AP Moller - Maersk A/S, Class B(x) | 38 | 74499 |
|  Kawasaki Kisen Kaisha Ltd.(x) | 3377 | 48091 |
|  Kuehne + Nagel International AG (Registered)(x) | 460 | 85609 |
|  Mitsui OSK Lines Ltd.(x) | 3247 | 98672 |
|  Nippon Yusen KK(x) | 4182 | 142836 |
|  SITC International Holdings Co. Ltd. | 13260 | 51050 |
|  |  | 555497 |
|  ***Passenger Airlines (0.1%)*** |  |  |
|  ANA Holdings, Inc. | 1543 | 29851 |
|  Delta Air Lines, Inc. | 4369 | 247941 |
|  Deutsche Lufthansa AG (Registered) | 5716 | 48372 |
|  International Consolidated Airlines Group SA | 11841 | 61613 |
|  Japan Airlines Co. Ltd. | 1412 | 28482 |
|  Qantas Airways Ltd. | 7064 | 51043 |
|  Ryanair Holdings plc | 8088 | 234544 |
|  Singapore Airlines Ltd. | 14560 | 73593 |
|  Southwest Airlines Co. | 3537 | 112866 |
|  United Airlines Holdings, Inc.\* | 2181 | 210466 |
|  |  | 1098771 |
|  ***Professional Services (0.5%)*** |  |  |
|  Automatic Data Processing, Inc. | 2728 | 800668 |
|  Broadridge Financial Solutions, Inc. | 789 | 187916 |
|  Bureau Veritas SA | 3027 | 94675 |
|  Computershare Ltd. | 4959 | 119081 |
|  Dayforce, Inc.\* | 1076 | 74126 |
|  Equifax, Inc. | 834 | 213946 |
|  Experian plc | 8755 | 438251 |
|  Intertek Group plc | 1500 | 95259 |
|  Jacobs Solutions, Inc. | 805 | 120637 |
|  Leidos Holdings, Inc. | 864 | 163261 |
|  Paychex, Inc. | 2184 | 276844 |
|  Paycom Software, Inc. | 337 | 70143 |
|  Randstad NV | 1034 | 43909 |
|  Recruit Holdings Co. Ltd. | 12625 | 679804 |
|  RELX plc | 17487 | 836545 |
|  SGS SA (Registered) | 1577 | 163395 |
|  Teleperformance SE | 513 | 38149 |
|  Verisk Analytics, Inc. | 941 | 236671 |
|  Wolters Kluwer NV | 2273 | 309960 |
|  |  | 4963240 |
|  ***Trading Companies & Distributors (0.5%)*** |  |  |
|  AddTech AB, Class B | 2476 | 80268 |
|  AerCap Holdings NV | 1681 | 203401 |
|  Ashtead Group plc | 4066 | 271504 |
|  Beijer Ref AB, Class B | 3667 | 57122 |
|  Brenntag SE | 1169 | 69859 |
|  Bunzl plc | 3122 | 98503 |
|  Fastenal Co. | 7730 | 379079 |
|  IMCD NV | 563 | 58167 |
|  ITOCHU Corp. | 11327 | 645375 |
|  Marubeni Corp. | 13478 | 337030 |
|  Mitsubishi Corp. | 30651 | 731844 |
|  Mitsui & Co. Ltd. | 23536 | 585675 |
|  MonotaRO Co. Ltd. | 2407 | 35091 |
|  Rexel SA | 2137 | 69849 |
|  SGH Ltd. | 1939 | 64062 |
|  Sumitomo Corp. | 10369 | 300654 |
|  Toyota Tsusho Corp. | 6605 | 183208 |
|  United Rentals, Inc. | 433 | 413368 |
|  W.W. Grainger, Inc. | 296 | 282076 |
|  |  | 4866135 |
|  ***Transportation Infrastructure (0.1%)*** |  |  |
|  Aena SME SA(m) | 7146 | 195230 |
|  Aeroports de Paris SA(x) | 330 | 43509 |
|  Auckland International Airport Ltd. | 16082 | 73469 |
|  Getlink SE | 2882 | 52987 |
|  Transurban Group | 29619 | 270465 |
|  |  | 635660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 67845410 |
|  **Information Technology (15.4%)** |  |  |
|  ***Communications Equipment (0.4%)*** |  |  |
|  Arista Networks, Inc.\* | 6942 | 1011519 |
|  Cisco Systems, Inc. | 26673 | 1824967 |
|  F5, Inc.\* | 387 | 125074 |
|  Motorola Solutions, Inc. | 1122 | 513079 |
|  Nokia OYJ | 49383 | 236493 |
|  Telefonaktiebolaget LM Ericsson, Class B | 26665 | 220471 |
|  |  | 3931603 |
|  ***Electronic Equipment, Instruments & Components (0.5%)*** |  |  |
|  Amphenol Corp., Class A | 8224 | 1017720 |
|  CDW Corp. | 883 | 140644 |
|  Corning, Inc. | 5251 | 430740 |
|  Halma plc | 3617 | 167825 |
|  Hexagon AB, Class B | 19781 | 235118 |
|  Jabil, Inc. | 723 | 157014 |
|  Keyence Corp. | 1873 | 698868 |
|  Keysight Technologies, Inc.\* | 1159 | 202732 |
|  Kyocera Corp. | 12194 | 164046 |
|  Murata Manufacturing Co. Ltd. | 15896 | 302635 |
|  Shimadzu Corp. | 2290 | 57836 |
|  TDK Corp. | 18505 | 268844 |
|  TE Connectivity plc | 1990 | 436865 |
|  Teledyne Technologies, Inc.\* | 316 | 185189 |
|  Trimble, Inc.\* | 1603 | 130885 |
|  Yokogawa Electric Corp. | 2219 | 63846 |
|  Zebra Technologies Corp., Class A\* | 342 | 101629 |
|  |  | 4762436 |
|  ***IT Services (0.5%)*** |  |  |
|  Accenture plc, Class A | 4195 | 1034487 |
|  Akamai Technologies, Inc.\* | 966 | 73184 |
|  Capgemini SE | 1551 | 224979 |
|  Cognizant Technology Solutions Corp., Class A | 3290 | 220660 |
|  EPAM Systems, Inc.\* | 375 | 56546 |
|  Fujitsu Ltd. | 16734 | 394234 |
|  Gartner, Inc.\* | 510 | 134064 |
|  GoDaddy, Inc., Class A\* | 933 | 127662 |
|  International Business Machines Corp. | 6274 | 1770272 |
|  NEC Corp. | 12385 | 396879 |
|  Nomura Research Institute Ltd. | 3639 | 139595 |
|  Obic Co. Ltd. | 3125 | 108911 |
|  Otsuka Corp. | 2216 | 46272 |
|  SCSK Corp. | 1514 | 45343 |
|  TIS, Inc. | 2049 | 67670 |
|  VeriSign, Inc. | 566 | 158237 |
|  Wix.com Ltd.\* | 530 | 94144 |
|  |  | 5093139 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC AGGRESSIVE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  ***Semiconductors & Semiconductor Equipment (6.2%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 10931 | $1768526 |
|  Advantest Corp.(x) | 7278 | 720984 |
|  Analog Devices, Inc. | 3343 | 821375 |
|  Applied Materials, Inc. | 5405 | 1106620 |
|  ASM International NV | 446 | 267468 |
|  ASML Holding NV | 3753 | 3648782 |
|  BE Semiconductor Industries NV | 696 | 103654 |
|  Broadcom, Inc. | 31627 | 10434064 |
|  Disco Corp. | 839 | 263866 |
|  First Solar, Inc.\* | 722 | 159223 |
|  Infineon Technologies AG | 12443 | 485009 |
|  Intel Corp.\* | 29482 | 989121 |
|  KLA Corp. | 889 | 958875 |
|  Lam Research Corp. | 8525 | 1141497 |
|  Lasertec Corp. | 734 | 100780 |
|  Microchip Technology, Inc. | 3635 | 233440 |
|  Micron Technology, Inc. | 7538 | 1261258 |
|  Monolithic Power Systems, Inc. | 323 | 297367 |
|  Nova Ltd.\* | 279 | 88404 |
|  NVIDIA Corp. | 164350 | 30664423 |
|  NXP Semiconductors NV | 1698 | 386686 |
|  ON Semiconductor Corp.\* | 2755 | 135849 |
|  QUALCOMM, Inc. | 7264 | 1208439 |
|  Renesas Electronics Corp. | 16030 | 184922 |
|  SCREEN Holdings Co. Ltd.(x) | 754 | 68627 |
|  Skyworks Solutions, Inc. | 1000 | 76980 |
|  STMicroelectronics NV | 6512 | 182343 |
|  Teradyne, Inc. | 1071 | 147412 |
|  Texas Instruments, Inc. | 6124 | 1125163 |
|  Tokyo Electron Ltd. | 4296 | 765747 |
|  |  | 59796904 |
|  ***Software (4.9%)*** |  |  |
|  Adobe, Inc.\* | 2857 | 1007807 |
|  AppLovin Corp., Class A\* | 1823 | 1309898 |
|  Autodesk, Inc.\* | 1441 | 457763 |
|  Cadence Design Systems, Inc.\* | 1835 | 644562 |
|  Check Point Software Technologies Ltd.\* | 826 | 170908 |
|  Crowdstrike Holdings, Inc., Class A\* | 1679 | 823348 |
|  CyberArk Software Ltd.\* | 455 | 219833 |
|  Dassault Systemes SE | 6404 | 214356 |
|  Datadog, Inc., Class A\* | 2177 | 310005 |
|  Fair Isaac Corp.\* | 162 | 242438 |
|  Fortinet, Inc.\* | 4387 | 368859 |
|  Gen Digital, Inc. | 3775 | 107172 |
|  Intuit, Inc. | 1879 | 1283188 |
|  Microsoft Corp. | 50067 | 25932203 |
|  Monday.com Ltd.\* | 387 | 74958 |
|  Nemetschek SE | 550 | 71547 |
|  Nice Ltd.\* | 603 | 88842 |
|  Oracle Corp. | 380 | 38800 |
|  Oracle Corp. (Moscow Stock Exchange) | 11162 | 3139201 |
|  Palantir Technologies, Inc., Class A\* | 15319 | 2794492 |
|  Palo Alto Networks, Inc.\* | 4499 | 916086 |
|  PTC, Inc.\* | 807 | 163837 |
|  Roper Technologies, Inc. | 725 | 361550 |
|  Sage Group plc (The) | 9220 | 136400 |
|  Salesforce, Inc. | 6439 | 1526043 |
|  SAP SE | 9950 | 2662282 |
|  ServiceNow, Inc.\* | 1401 | 1289312 |
|  Synopsys, Inc.\* | 1246 | 614764 |
|  Trend Micro, Inc. | 1236 | 67699 |
|  Tyler Technologies, Inc.\* | 291 | 152240 |
|  WiseTech Global Ltd. | 1913 | 114241 |
|  Workday, Inc., Class A\* | 1455 | 350262 |
|  Xero Ltd.\* | 1568 | 163413 |
|  |  | 47818309 |
|  ***Technology Hardware, Storage & Peripherals (2.9%)*** |  |  |
|  Apple, Inc. | 99960 | 25452815 |
|  Canon, Inc.(x) | 8211 | 240803 |
|  Dell Technologies, Inc., Class C | 2042 | 289494 |
|  FUJIFILM Holdings Corp. | 10697 | 266259 |
|  Hewlett Packard Enterprise Co. | 8839 | 217086 |
|  HP, Inc. | 6327 | 172284 |
|  Logitech International SA (Registered) | 1449 | 157960 |
|  NetApp, Inc. | 1348 | 159684 |
|  Seagate Technology Holdings plc | 1433 | 338274 |
|  Super Micro Computer, Inc.\* | 3377 | 161893 |
|  Western Digital Corp. | 2337 | 280580 |
|  |  | 27737132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 149139523 |
|  **Materials (1.8%)** |  |  |
|  ***Chemicals (0.9%)*** |  |  |
|  Air Liquide SA | 5512 | 1144525 |
|  Air Products and Chemicals, Inc. | 1499 | 408807 |
|  Akzo Nobel NV | 1627 | 115757 |
|  Albemarle Corp.(x) | 793 | 64296 |
|  Arkema SA | 543 | 34170 |
|  Asahi Kasei Corp. | 11745 | 92484 |
|  BASF SE | 8504 | 423227 |
|  CF Industries Holdings, Inc. | 1091 | 97863 |
|  Corteva, Inc. | 4574 | 309340 |
|  Covestro AG\* | 1710 | 117045 |
|  Dow, Inc. | 4774 | 109468 |
|  DSM-Firmenich AG | 1772 | 150872 |
|  DuPont de Nemours, Inc. | 2820 | 219678 |
|  Eastman Chemical Co. | 773 | 48738 |
|  Ecolab, Inc. | 1719 | 470765 |
|  EMS-Chemie Holding AG (Registered) | 67 | 47343 |
|  Evonik Industries AG | 2442 | 42346 |
|  Givaudan SA (Registered) | 88 | 357284 |
|  ICL Group Ltd. | 7378 | 46110 |
|  International Flavors & Fragrances, Inc. | 1726 | 106218 |
|  Linde plc | 3158 | 1500050 |
|  LyondellBasell Industries NV, Class A | 1733 | 84986 |
|  Mitsubishi Chemical Group Corp. | 12162 | 70011 |
|  Mosaic Co. (The) | 2138 | 74146 |
|  Nippon Paint Holdings Co. Ltd. | 9070 | 61945 |
|  Nippon Sanso Holdings Corp. | 1632 | 57904 |
|  Nitto Denko Corp.(x) | 6740 | 160291 |
|  Novonesis Novozymes B | 3376 | 206604 |
|  PPG Industries, Inc. | 1520 | 159767 |
|  Sherwin-Williams Co. (The) | 1562 | 540858 |
|  Shin-Etsu Chemical Co. Ltd. | 16109 | 528634 |
|  Sika AG (Registered) | 1453 | 323254 |
|  Syensqo SA | 693 | 55895 |
|  Symrise AG, Class A | 1265 | 109962 |
|  Toray Industries, Inc. | 13256 | 84734 |
|  Yara International ASA | 1577 | 57615 |
|  |  | 8482992 |
|  ***Construction Materials (0.2%)*** |  |  |
|  Amrize Ltd.\* | 4861 | 234425 |
|  Heidelberg Materials AG | 1275 | 286734 |
|  Holcim AG | 4861 | 411205 |
|  James Hardie Industries plc (CHDI)\* | 5513 | 102434 |
|  Martin Marietta Materials, Inc. | 406 | 255894 |
|  Vulcan Materials Co. | 890 | 273782 |
|  |  | 1564474 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC AGGRESSIVE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***Containers & Packaging (0.1%)*** |  |  |
|  Amcor plc | 15528 | $127019 |
|  Avery Dennison Corp. | 525 | 85139 |
|  Ball Corp. | 1833 | 92420 |
|  International Paper Co. | 3556 | 164998 |
|  Packaging Corp. of America | 602 | 131194 |
|  SIG Group AG | 2914 | 30035 |
|  Smurfit WestRock plc | 3517 | 149719 |
|  |  | 780524 |
|  ***Metals & Mining (0.6%)*** |  |  |
|  Anglo American plc | 10664 | 399425 |
|  Antofagasta plc | 3757 | 139002 |
|  ArcelorMittal SA | 4468 | 160412 |
|  BHP Group Ltd. | 48366 | 1361121 |
|  BlueScope Steel Ltd. | 4179 | 62743 |
|  Boliden AB\* | 2708 | 110081 |
|  Evolution Mining Ltd. | 19076 | 136703 |
|  Fortescue Ltd. | 16134 | 199425 |
|  Freeport-McMoRan, Inc. | 9671 | 379297 |
|  Fresnillo plc | 2106 | 66844 |
|  Glencore plc | 96586 | 443733 |
|  JFE Holdings, Inc.(x) | 5481 | 67324 |
|  Newmont Corp. | 7399 | 623810 |
|  Nippon Steel Corp.(x) | 45960 | 189422 |
|  Norsk Hydro ASA | 13194 | 89374 |
|  Northern Star Resources Ltd. | 12929 | 203013 |
|  Nucor Corp. | 1546 | 209375 |
|  Rio Tinto Ltd. | 3537 | 285603 |
|  Rio Tinto plc | 10754 | 706882 |
|  South32 Ltd. | 42905 | 77789 |
|  Steel Dynamics, Inc. | 932 | 129949 |
|  Sumitomo Metal Mining Co. Ltd.(x) | 2341 | 75461 |
|  |  | 6116788 |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Holmen AB, Class B | 726 | 27561 |
|  Mondi plc | 4205 | 57910 |
|  Stora Enso OYJ, Class R | 5549 | 60822 |
|  Svenska Cellulosa AB SCA, Class B | 5788 | 76451 |
|  UPM-Kymmene OYJ | 5027 | 137339 |
|  |  | 360083 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 17304861 |
|  **Real Estate (1.1%)** |  |  |
|  ***Diversified REITs (0.0%)†*** |  |  |
|  CapitaLand Integrated Commercial Trust (REIT) | 56167 | 99711 |
|  Covivio SA (REIT) | 532 | 35727 |
|  Land Securities Group plc (REIT) | 6742 | 52772 |
|  Stockland (REIT) | 22863 | 92586 |
|  |  | 280796 |
|  ***Health Care REITs (0.1%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) | 1048 | 87340 |
|  Healthpeak Properties, Inc. (REIT) | 4706 | 90120 |
|  Ventas, Inc. (REIT) | 3061 | 214239 |
|  Welltower, Inc. (REIT) | 4505 | 802521 |
|  |  | 1194220 |
|  ***Hotel & Resort REITs (0.0%)†*** |  |  |
|  Host Hotels & Resorts, Inc. (REIT) | 4307 | 73305 |
|  ***Industrial REITs (0.1%)*** |  |  |
|  CapitaLand Ascendas REIT (REIT) | 37319 | 80716 |
|  Goodman Group (REIT) | 19353 | 419777 |
|  Prologis, Inc. (REIT) | 6251 | 715865 |
|  Segro plc (REIT) | 12250 | 107977 |
|  |  | 1324335 |
|  ***Office REITs (0.0%)†*** |  |  |
|  BXP, Inc. (REIT) | 992 | 73745 |
|  Gecina SA (REIT) | 439 | 43965 |
|  Nippon Building Fund, Inc. (REIT) | 74 | 69804 |
|  |  | 187514 |
|  ***Real Estate Management & Development (0.3%)*** |  |  |
|  Azrieli Group Ltd. | 404 | 40093 |
|  CapitaLand Investment Ltd. | 21867 | 45600 |
|  CBRE Group, Inc., Class A\* | 1974 | 311023 |
|  CK Asset Holdings Ltd. | 18396 | 89167 |
|  CoStar Group, Inc.\* | 2854 | 240792 |
|  Daito Trust Construction Co. Ltd.(x) | 2840 | 62317 |
|  Daiwa House Industry Co. Ltd. | 5305 | 190841 |
|  Fastighets AB Balder, Class B\* | 6840 | 48926 |
|  Henderson Land Development Co. Ltd. | 14204 | 50085 |
|  Hongkong Land Holdings Ltd. | 10454 | 66174 |
|  Hulic Co. Ltd. | 4427 | 48495 |
|  LEG Immobilien SE | 720 | 57228 |
|  Mitsubishi Estate Co. Ltd. | 10152 | 233609 |
|  Mitsui Fudosan Co. Ltd. | 25219 | 275067 |
|  Sagax AB, Class B | 2094 | 43662 |
|  Sino Land Co. Ltd. | 34859 | 44123 |
|  Sumitomo Realty & Development Co. Ltd. | 2958 | 130653 |
|  Sun Hung Kai Properties Ltd. | 13696 | 164029 |
|  Swiss Prime Site AG (Registered) | 764 | 106819 |
|  Vonovia SE | 7166 | 223372 |
|  Wharf Holdings Ltd. (The) | 9900 | 28319 |
|  Wharf Real Estate Investment Co. Ltd. | 15963 | 47180 |
|  |  | 2547574 |
|  ***Residential REITs (0.1%)*** |  |  |
|  AvalonBay Communities, Inc. (REIT) | 958 | 185057 |
|  Camden Property Trust (REIT) | 720 | 76881 |
|  Equity Residential (REIT) | 2341 | 151533 |
|  Essex Property Trust, Inc. (REIT) | 434 | 116164 |
|  Invitation Homes, Inc. (REIT) | 3799 | 111425 |
|  Mid-America Apartment Communities, Inc. (REIT) | 789 | 110247 |
|  UDR, Inc. (REIT) | 2031 | 75675 |
|  |  | 826982 |
|  ***Retail REITs (0.2%)*** |  |  |
|  Federal Realty Investment Trust (REIT) | 529 | 53593 |
|  Kimco Realty Corp. (REIT) | 4561 | 99658 |
|  Klepierre SA (REIT) | 2050 | 79810 |
|  Link REIT (REIT) | 24760 | 127269 |
|  Realty Income Corp. (REIT) | 6158 | 374345 |
|  Regency Centers Corp. (REIT) | 1101 | 80263 |
|  Scentre Group (REIT) | 49620 | 133961 |
|  Simon Property Group, Inc. (REIT) | 2199 | 412686 |
|  Unibail-Rodamco-Westfield (REIT) | 1160 | 121808 |
|  Vicinity Ltd. (REIT) | 37826 | 63074 |
|  |  | 1546467 |
|  ***Specialized REITs (0.3%)*** |  |  |
|  American Tower Corp. (REIT) | 3154 | 606577 |
|  Crown Castle, Inc. (REIT) | 2933 | 283005 |
|  Digital Realty Trust, Inc. (REIT) | 2159 | 373248 |
|  Equinix, Inc. (REIT) | 659 | 516155 |
|  Extra Space Storage, Inc. (REIT) | 1430 | 201544 |
|  Iron Mountain, Inc. (REIT) | 1989 | 202759 |
|  Public Storage (REIT) | 1064 | 307337 |
|  SBA Communications Corp. (REIT) | 723 | 139792 |
|  VICI Properties, Inc. (REIT), Class A | 7183 | 234238 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC AGGRESSIVE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Weyerhaeuser Co. (REIT) | 4860 | $120479 |
|  |  | 2985134 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 10966327 |
|  **Utilities (1.6%)** |  |  |
|  ***Electric Utilities (1.0%)*** |  |  |
|  Acciona SA | 235 | 47152 |
|  Alliant Energy Corp. | 1731 | 116687 |
|  American Electric Power Co., Inc. | 3602 | 405225 |
|  BKW AG | 201 | 42899 |
|  Chubu Electric Power Co., Inc. | 6515 | 90686 |
|  CK Infrastructure Holdings Ltd. | 5785 | 37987 |
|  CLP Holdings Ltd. | 15457 | 128015 |
|  Constellation Energy Corp. | 2104 | 692363 |
|  Contact Energy Ltd. | 8185 | 43182 |
|  Duke Energy Corp. | 5238 | 648202 |
|  Edison International | 2592 | 143286 |
|  EDP SA | 29894 | 141687 |
|  Elia Group SA/NV, Class B | 416 | 47937 |
|  Endesa SA | 3026 | 96668 |
|  Enel SpA | 77492 | 733840 |
|  Entergy Corp. | 3007 | 280222 |
|  Evergy, Inc. | 1550 | 117831 |
|  Eversource Energy | 2470 | 175716 |
|  Exelon Corp. | 6803 | 306203 |
|  FirstEnergy Corp. | 3500 | 160370 |
|  Fortum OYJ | 4274 | 80813 |
|  Iberdrola SA | 60477 | 1143504 |
|  Kansai Electric Power Co., Inc. (The) | 9013 | 129114 |
|  NextEra Energy, Inc. | 13870 | 1047046 |
|  NRG Energy, Inc. | 1303 | 211021 |
|  Origin Energy Ltd. | 16412 | 135748 |
|  PG&E Corp. | 14804 | 223244 |
|  Pinnacle West Capital Corp. | 804 | 72087 |
|  Power Assets Holdings Ltd. | 13127 | 83128 |
|  PPL Corp.(x) | 4981 | 185094 |
|  Redeia Corp. SA | 3866 | 74619 |
|  Southern Co. (The) | 7409 | 702151 |
|  SSE plc | 10544 | 246956 |
|  Terna - Rete Elettrica Nazionale | 13404 | 135936 |
|  Verbund AG | 649 | 47165 |
|  Xcel Energy, Inc. | 3984 | 321310 |
|  |  | 9295094 |
|  ***Gas Utilities (0.1%)*** |  |  |
|  APA Group | 12428 | 73025 |
|  Atmos Energy Corp. | 1081 | 184581 |
|  Hong Kong & China Gas Co. Ltd. | 107086 | 93023 |
|  Osaka Gas Co. Ltd. | 3375 | 97883 |
|  Snam SpA | 19210 | 115429 |
|  Tokyo Gas Co. Ltd. | 3029 | 107818 |
|  |  | 671759 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  AES Corp. (The) | 4796 | 63115 |
|  EDP Renovaveis SA | 3004 | 39501 |
|  Meridian Energy Ltd. | 12459 | 40233 |
|  Orsted A/S(m)(x)\* | 1602 | 28611 |
|  RWE AG | 6025 | 267525 |
|  Vistra Corp. | 2148 | 420836 |
|  |  | 859821 |
|  ***Multi-Utilities (0.4%)*** |  |  |
|  Ameren Corp. | 1821 | 190076 |
|  CenterPoint Energy, Inc. | 4397 | 170604 |
|  Centrica plc | 46263 | 103657 |
|  CMS Energy Corp. | 2016 | 147692 |
|  Consolidated Edison, Inc. | 2429 | 244163 |
|  Dominion Energy, Inc. | 5748 | 351605 |
|  DTE Energy Co. | 1398 | 197719 |
|  E.ON SE | 21391 | 402202 |
|  Engie SA | 17402 | 372965 |
|  National Grid plc | 46707 | 670563 |
|  NiSource, Inc. | 3171 | 137304 |
|  Public Service Enterprise Group, Inc. | 3362 | 280593 |
|  Sembcorp Industries Ltd. | 8500 | 39668 |
|  Sempra | 4395 | 395462 |
|  Veolia Environnement SA | 5999 | 204110 |
|  WEC Energy Group, Inc. | 2168 | 248431 |
|  |  | 4156814 |
|  ***Water Utilities (0.0%)†*** |  |  |
|  American Water Works Co., Inc. | 1314 | 182896 |
|  Severn Trent plc | 2579 | 89765 |
|  United Utilities Group plc | 6496 | 100163 |
|  |  | 372824 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 15356312 |
|  **Total Common Stocks (59.1%)**<br> *(Cost $380,686,561)* |  | 570248916 |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (4.3%)** |  |  |
|  SPDR S&P MidCap 400 ETF Trust(x) | 70742 | 42164354 |
|  **Total Exchange Traded Funds (4.3%)**<br> *(Cost $31,368,706)* |  | 42164354 |
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **U.S. Treasury Obligations (14.9%)** |  |  |
|  U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 11/15/27 | $1896100 | 1992088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 11/15/28 | 1649300 | 1726511 |
|  U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 6/30/26 | 2245200 | 2258945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 8/15/26 | 4196800 | 4115681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 9/30/26 | 6709700 | 6523996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/15/26 | 3908200 | 3834580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 1/31/27 | 990600 | 962700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 2/15/27 | 1962300 | 1925064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/28/27 | 497800 | 485548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/27 | 2289900 | 2244134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/15/27 | 5527100 | 5390859 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 11/15/27 | 3255500 | 3165487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/31/27 | 994200 | 999831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 2/15/28 | 2037000 | 1996875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 3/31/28 | 1835600 | 1836476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/30/28 | 1531500 | 1527428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/28 | 881000 | 864624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5/31/28 | 846000 | 846275 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/30/28 | 517500 | 522675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 8/15/28 | 137000 | 134201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/31/28 | 1527100 | 1558561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/28 | 845400 | 869357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/28 | 2155600 | 2232896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 11/15/28 | 2244400 | 2210645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/28 | 1598200 | 1633158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/28 | 1383100 | 1387861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/31/29 | 2162700 | 2186353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 2/15/29 | 5503000 | 5326361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/28/29 | 7281500 | 7421978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/30/29 | 5290200 | 5459256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/29 | 2513800 | 2404893 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/31/29 | 5037900 | 5180075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 6/30/29 | 8765200 | 8941411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 8/15/29 | 2297000 | 2131280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/30/29 | 2715000 | 2696722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 11/15/29 | 2344000 | 2174606 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC AGGRESSIVE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 2/15/30 | $2437400 | $2223173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 5/15/30 | 1850800 | 1609293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 8/15/30 | 1789100 | 1542732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 8/31/30 | 1896500 | 1928946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/30 | 2723000 | 2831086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/30 | 1484000 | 1560405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 11/15/30 | 1929000 | 1673134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/30 | 3221300 | 3313417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/30 | 2020300 | 2018724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 5/15/31 | 1207500 | 1075456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 8/15/31 | 1243400 | 1075724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 11/15/31 | 1598700 | 1383845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/15/32 | 2614500 | 2319687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/32 | 860100 | 808583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 8/15/32 | 945400 | 878999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/32 | 887100 | 897428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/15/33 | 666500 | 647130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 5/15/33 | 1044200 | 1003098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/33 | 1267700 | 1257506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/33 | 1711200 | 1769084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/15/34 | 3947000 | 3936423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/15/34 | 4317100 | 4416976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/34 | 2807800 | 2765099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/15/34 | 562500 | 568884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/15/35 | 2214700 | 2301687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/35 | 900700 | 908986 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 143884896 |
|  **Total Long-Term Debt Securities (14.9%)**<br> *(Cost $144,396,651)* |  | 143884896 |
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Financials (0.0%)†** |  |  |
|  ***Financial Services (0.0%)†*** |  |  |
|  Sofina SA, expiring 10/2/25\* | 147 | 328 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 328 |
|  ***Utilities (0.0%)†*** |  |  |
|  ***Independent Power and Renewable Electricity Producers (0.0%)†*** |  |  |
|  Orsted A/S, expiring 10/2/25\* | 24030 | 23924 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 23924 |
|  **Total Rights (0.0%)†**<br> *(Cost $67,349)* |  | 24252 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (20.2%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 2985133 | 2985133 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 190637365 | 190713620 |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 1000000 | 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 194698753 |
|  **Total Short-Term Investments (20.2%)**<br> *(Cost $194,686,665)* |  | 194698753 |
|  **Total Investments in Securities (98.5%)**<br>*(Cost $751,205,932)* |  | 951021171 |
|  **Other Assets Less Liabilities (1.5%)** |  | 14202246 |
|  **Net Assets (100%)** |  | $965223417 |

---

*\** *Non-income producing.* 

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $2,130,808 or 0.2%of net assets.* 

*(q)* *Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $6,103,419. This was collateralized by $2,425,066 of various U.S. Government Treasury Securities, ranging from 0.000% – 5.375%,maturing 10/9/25 – 5/15/55 and by cash of $3,985,133 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*AUD — Australian Dollar* 

*CHDI — Clearing House Electronic Subregister System (CHESS)* 

*Depository Interest* 

*CHF — Swiss Franc* 

*CVA — Dutch Certification* 

*EUR — European Currency Unit* 

*GBP — British Pound* 

*JPY — Japanese Yen* 

*NOK — Norwegian Krone* 

*NZD — New Zealand Dollar* 

*REIT — Real Estate Investment Trust* 

*SEK — Swedish Krona* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC AGGRESSIVE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  EURO STOXX 50 Index | 560 | 12/2025 | EUR | 36430302 | 548403 |
|  FTSE 100 Index | 142 | 12/2025 | GBP | 17966048 | 156267 |
|  MSCI EAFE E-Mini Index | 3 | 12/2025 | USD | 417795 | (1056) |
|  Russell 2000 E-Mini Index | 356 | 12/2025 | USD | 43707900 | 249956 |
|  S&P 500 E-Mini Index | 346 | 12/2025 | USD | 116580375 | 1445585 |
|  S&P 500 Micro E-Mini Index | 6 | 12/2025 | USD | 202163 | 2697 |
|  SPI 200 Index | 43 | 12/2025 | AUD | 6311609 | (22410) |
|  TOPIX Index | 70 | 12/2025 | JPY | 14867634 | 26349 |
|  |  |  |  |  | 2405791 |
|  **Short Contracts** |  |  |  |  |  |
|  U.S. Treasury 2 Year Note | (36) | 12/2025 | USD | (7502344) | 1022 |
|  U.S. Treasury 5 Year Note | (31) | 12/2025 | USD | (3385055) | (5942) |
|  U.S. Treasury 10 Year Note | (61) | 12/2025 | USD | (6862500) | (30822) |
|  |  |  |  |  | (35742) |
|  |  |  |  |  | 2370049 |

---

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  USD | 3368097 | JPY | 493820211 | JPMorgan Chase Bank | 10/30/2025 | 18060 |
|  AUD | 2180036 | USD | 1411318 | Royal Bank of Scotland | 11/7/2025 | 31968 |
|  USD | 508081 | NZD | 856066 | JPMorgan Chase Bank | 11/7/2025 | 11053 |
|  NOK | 2151229 | USD | 214231 | JPMorgan Chase Bank | 11/20/2025 | 1381 |
|  SEK | 80007510 | USD | 8524814 | Barclays Bank plc | 11/20/2025 | 637 |
|  SEK | 56726203 | USD | 6023569 | HSBC Bank plc | 11/20/2025 | 21069 |
|  USD | 9055271 | CHF | 7125493 | UBS AG | 11/21/2025 | 49777 |
|  USD | 20596921 | GBP | 15068797 | Bank of America | 12/5/2025 | 327983 |
|  **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** |  |  | 461928 |
|  JPY | 1856470930 | USD | 12613767 | JPMorgan Chase Bank | 10/30/2025 | (19617) |
|  JPY | 1916842831 | USD | 13091579 | Morgan Stanley | 10/30/2025 | (87871) |
|  USD | 5243051 | JPY | 775272100 | HSBC Bank plc | 10/30/2025 | (16333) |
|  USD | 1416813 | AUD | 2180036 | Bank of America | 11/7/2025 | (26474) |
|  USD | 29000 | AUD | 44628 | JPMorgan Chase Bank | 11/7/2025 | (546) |
|  CHF | 9133619 | USD | 11622761 | JPMorgan Chase Bank | 11/21/2025 | (79314) |
|  EUR | 2268150 | USD | 2680386 | HSBC Bank plc | 11/21/2025 | (9447) |
|  EUR | 25929645 | USD | 30593092 | Morgan Stanley | 11/21/2025 | (58730) |
|  **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** |  |  |  | (298332) |
|  **Net unrealized appreciation** | **Net unrealized appreciation** | **Net unrealized appreciation** |  |  |  | 163596 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC AGGRESSIVE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $39945537 | $8141068 | $— | $48086605 |
|  Consumer Discretionary | 41128949 | 18365909 |  | 59494858 |
|  Consumer Staples | 19058252 | 13821249 |  | 32879501 |
|  Energy | 11096917 | 5908526 |  | 17005443 |
|  Financials | 52139247 | 45889507 |  | 98028754 |
|  Health Care | 34267922 | 19873400 |  | 54141322 |
|  Industrials | 32182346 | 35663064 |  | 67845410 |
|  Information Technology | 134196470 | 14943053 |  | 149139523 |
|  Materials | 6817576 | 10487285 |  | 17304861 |
|  Real Estate | 7441611 | 3524716 |  | 10966327 |
|  Utilities | 9023135 | 6333177 |  | 15356312 |
|  **Exchange Traded Funds** | 42164354 |  |  | 42164354 |
|  **Forward Currency Contracts** |  | 461928 |  | 461928 |
|  **Futures** | 2430279 |  |  | 2430279 |
|  **Rights** |  |  |  |  |
|  Financials |  | 328 |  | 328 |
|  Utilities |  | 23924 |  | 23924 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 194698753 |  |  | 194698753 |
|  **U.S. Treasury Obligations** |  | 143884896 |  | 143884896 |
|  **Total Assets** | $**626591348** | $**327322030** | $**—** | $**953913378** |
|  **Liabilities:** |  |  |  |  |
|  **Forward Currency Contracts** | $— | $(298332) | $— | $(298332) |
|  **Futures** | (60230) |  |  | (60230) |
|  **Total Liabilities** | $**(60230)** | $**(298332)** | $**—** | $**(358562)** |
|  **Total** | $**626531118** | $**327023698** | $**—** | $**953554816** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $229962929 |
|  Aggregate gross unrealized depreciation | (24538779) |
|  Net unrealized appreciation | $205424150 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $748130666 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (5.6%)** |  |  |
|  ***Diversified Telecommunication Services (0.7%)*** |  |  |
|  AT&T, Inc. | 57773 | $1631510 |
|  BT Group plc | 65187 | 167581 |
|  Cellnex Telecom SA(m) | 5391 | 186651 |
|  Deutsche Telekom AG (Registered) | 38067 | 1296531 |
|  Elisa OYJ | 1550 | 81271 |
|  HKT Trust & HKT Ltd. | 41391 | 61273 |
|  Infrastrutture Wireless Italiane SpA(m) | 3047 | 35809 |
|  Koninklijke KPN NV | 42394 | 203421 |
|  NTT, Inc. | 325766 | 340778 |
|  Orange SA | 20299 | 329121 |
|  Singapore Telecommunications Ltd. | 81003 | 259345 |
|  Swisscom AG (Registered) | 282 | 204579 |
|  Telecom Italia SpA\* | 115939 | 60613 |
|  Telefonica SA(x) | 40176 | 207448 |
|  Telenor ASA | 6711 | 111227 |
|  Telia Co. AB | 25713 | 98024 |
|  Telstra Group Ltd. | 42613 | 135910 |
|  Verizon Communications, Inc. | 34067 | 1497245 |
|  |  | 6908337 |
|  ***Entertainment (1.0%)*** |  |  |
|  Bollore SE | 7662 | 43323 |
|  Capcom Co. Ltd. | 3792 | 103156 |
|  CTS Eventim AG & Co. KGaA | 680 | 66583 |
|  Electronic Arts, Inc. | 1819 | 366892 |
|  Konami Group Corp. | 1070 | 154475 |
|  Live Nation Entertainment, Inc.\* | 1274 | 208172 |
|  Netflix, Inc.\* | 3433 | 4115892 |
|  Nexon Co. Ltd. | 3591 | 78845 |
|  Nintendo Co. Ltd. | 12064 | 1044592 |
|  Spotify Technology SA\* | 1667 | 1163566 |
|  Take-Two Interactive Software, Inc.\* | 1401 | 361962 |
|  TKO Group Holdings, Inc., Class A | 557 | 112492 |
|  Toho Co. Ltd.(x) | 1192 | 76573 |
|  Universal Music Group NV | 11997 | 345930 |
|  Walt Disney Co. (The) | 14527 | 1663341 |
|  Warner Bros Discovery, Inc.\* | 20004 | 390678 |
|  |  | 10296472 |
|  ***Interactive Media & Services (3.3%)*** |  |  |
|  Alphabet, Inc., Class A | 47000 | 11425700 |
|  Alphabet, Inc., Class C | 37731 | 9189385 |
|  Auto Trader Group plc(m) | 9508 | 100789 |
|  CAR Group Ltd. | 4118 | 100221 |
|  LY Corp. | 30287 | 97506 |
|  Match Group, Inc. | 1944 | 68662 |
|  Meta Platforms, Inc., Class A | 17513 | 12861197 |
|  REA Group Ltd. | 576 | 88066 |
|  Scout24 SE(m) | 817 | 102251 |
|  |  | 34033777 |
|  ***Media (0.2%)*** |  |  |
|  Charter Communications, Inc., Class A(x)\* | 750 | 206329 |
|  Comcast Corp., Class A | 29756 | 934934 |
|  Fox Corp., Class A | 1696 | 106950 |
|  Fox Corp., Class B | 1066 | 61071 |
|  Informa plc | 14223 | 175523 |
|  Interpublic Group of Cos., Inc. (The) | 2959 | 82586 |
|  News Corp., Class A | 3042 | 93420 |
|  News Corp., Class B | 899 | 31060 |
|  Omnicom Group, Inc. | 1565 | 127594 |
|  Paramount Skydance Corp., Class B(x) | 2495 | 47205 |
|  Publicis Groupe SA | 2495 | 239262 |
|  Trade Desk, Inc. (The), Class A\* | 3601 | 176485 |
|  WPP plc | 11757 | 58156 |
|  |  | 2340575 |
|  ***Wireless Telecommunication Services (0.4%)*** |  |  |
|  KDDI Corp. | 34203 | 545939 |
|  SoftBank Corp. | 312686 | 460302 |
|  SoftBank Group Corp. | 10383 | 1311873 |
|  Tele2 AB, Class B | 5966 | 101742 |
|  T-Mobile US, Inc. | 3910 | 935976 |
|  Vodafone Group plc | 212273 | 245975 |
|  |  | 3601807 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 57180968 |
|  **Consumer Discretionary (6.9%)** |  |  |
|  ***Automobile Components (0.1%)*** |  |  |
|  Aisin Corp. | 5404 | 93547 |
|  Aptiv plc\* | 1759 | 151661 |
|  Bridgestone Corp. | 6185 | 286404 |
|  Cie Generale des Etablissements Michelin SCA | 7309 | 262068 |
|  Continental AG | 1199 | 78999 |
|  Denso Corp. | 19065 | 275304 |
|  Sumitomo Electric Industries Ltd. | 7815 | 222901 |
|  |  | 1370884 |
|  ***Automobiles (1.6%)*** |  |  |
|  Bayerische Motoren Werke AG | 3059 | 306851 |
|  Bayerische Motoren Werke AG (Preference)(q) | 610 | 56542 |
|  Dr Ing hc F Porsche AG (Preference)(m)(q)(x) | 1241 | 60145 |
|  Ferrari NV | 1374 | 663970 |
|  Ford Motor Co. | 31584 | 377745 |
|  General Motors Co. | 7693 | 469042 |
|  Honda Motor Co. Ltd.(x) | 43131 | 446520 |
|  Isuzu Motors Ltd.(x) | 5801 | 73334 |
|  Mercedes-Benz Group AG | 7873 | 494239 |
|  Nissan Motor Co. Ltd.\* | 24249 | 59653 |
|  Porsche Automobil Holding SE (Preference)(q) | 1669 | 65545 |
|  Renault SA | 2095 | 85595 |
|  Stellantis NV | 21980 | 202935 |
|  Subaru Corp. | 6350 | 130104 |
|  Suzuki Motor Corp. | 17150 | 250550 |
|  Tesla, Inc.\* | 22673 | 10083137 |
|  Toyota Motor Corp. | 103402 | 1992386 |
|  Volkswagen AG (Preference)(q) | 2248 | 242707 |
|  Yamaha Motor Co. Ltd. | 9944 | 74638 |
|  |  | 16135638 |
|  ***Broadline Retail (2.0%)*** |  |  |
|  Amazon.com, Inc.\* | 78415 | 17217582 |
|  eBay, Inc. | 3692 | 335787 |
|  Next plc | 1272 | 211701 |
|  Pan Pacific International Holdings Corp. | 20805 | 137167 |
|  Prosus NV | 14270 | 1004216 |
|  Rakuten Group, Inc.\* | 16466 | 106878 |
|  Ryohin Keikaku Co. Ltd. | 5600 | 111519 |
|  Sea Ltd. (ADR)\* | 4171 | 745483 |
|  Wesfarmers Ltd. | 12374 | 753448 |
|  |  | 20623781 |
|  ***Distributors (0.0%)†*** |  |  |
|  D'ieteren Group | 234 | 43737 |
|  Genuine Parts Co. | 1124 | 155786 |
|  LKQ Corp. | 2079 | 63493 |
|  Pool Corp. | 265 | 82168 |
|  |  | 345184 |
|  ***Diversified Consumer Services (0.0%)†*** |  |  |
|  Pearson plc | 6392 | 90823 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***Hotels, Restaurants & Leisure (1.1%)*** |  |  |
|  Accor SA | 2136 | $101063 |
|  Airbnb, Inc., Class A\* | 3467 | 420963 |
|  Amadeus IT Group SA | 4911 | 389189 |
|  Aristocrat Leisure Ltd. | 6120 | 283391 |
|  Booking Holdings, Inc. | 262 | 1414609 |
|  Carnival Corp.\* | 8772 | 253598 |
|  Chipotle Mexican Grill, Inc.\* | 10834 | 424584 |
|  Compass Group plc | 18506 | 629436 |
|  Darden Restaurants, Inc. | 946 | 180080 |
|  Delivery Hero SE(m)\* | 2094 | 60011 |
|  Domino's Pizza, Inc. | 252 | 108791 |
|  DoorDash, Inc., Class A\* | 2991 | 813522 |
|  Entain plc | 6622 | 77820 |
|  Evolution AB(m) | 1560 | 128155 |
|  Expedia Group, Inc. | 955 | 204131 |
|  FDJ United | 1211 | 40521 |
|  Galaxy Entertainment Group Ltd. | 24312 | 133964 |
|  Genting Singapore Ltd. | 64446 | 36721 |
|  Hilton Worldwide Holdings, Inc. | 1900 | 492936 |
|  InterContinental Hotels Group plc | 1601 | 193227 |
|  Las Vegas Sands Corp. | 2496 | 134260 |
|  Lottery Corp. Ltd. (The) | 23906 | 93013 |
|  Marriott International, Inc., Class A | 1820 | 474001 |
|  McDonald's Corp. | 5766 | 1752230 |
|  MGM Resorts International\* | 1649 | 57154 |
|  Norwegian Cruise Line Holdings Ltd.\* | 3652 | 89949 |
|  Oriental Land Co. Ltd.(x) | 11813 | 284931 |
|  Royal Caribbean Cruises Ltd. | 2041 | 660427 |
|  Sands China Ltd. | 26276 | 73271 |
|  Sodexo SA | 964 | 60607 |
|  Starbucks Corp. | 9184 | 776966 |
|  Whitbread plc | 1906 | 82541 |
|  Wynn Resorts Ltd. | 682 | 87480 |
|  Yum! Brands, Inc. | 2242 | 340784 |
|  Zensho Holdings Co. Ltd. | 1027 | 67168 |
|  |  | 11421494 |
|  ***Household Durables (0.4%)*** |  |  |
|  Barratt Redrow plc | 14908 | 78174 |
|  DR Horton, Inc. | 2240 | 379613 |
|  Garmin Ltd. | 1322 | 325503 |
|  Lennar Corp., Class A | 1839 | 231788 |
|  Mohawk Industries, Inc.\* | 422 | 54404 |
|  NVR, Inc.\* | 23 | 184797 |
|  Panasonic Holdings Corp. | 25450 | 277070 |
|  PulteGroup, Inc. | 1594 | 210615 |
|  Sekisui House Ltd. | 6459 | 147056 |
|  Sony Group Corp. | 67042 | 1930770 |
|  |  | 3819790 |
|  ***Leisure Products (0.1%)*** |  |  |
|  Bandai Namco Holdings, Inc. | 6330 | 210807 |
|  Hasbro, Inc. | 1076 | 81615 |
|  Shimano, Inc. | 807 | 90585 |
|  |  | 383007 |
|  ***Specialty Retail (1.0%)*** |  |  |
|  AutoZone, Inc.\* | 135 | 579183 |
|  Avolta AG | 958 | 51820 |
|  Best Buy Co., Inc. | 1588 | 120085 |
|  CarMax, Inc.\* | 1213 | 54427 |
|  Fast Retailing Co. Ltd. | 2034 | 619477 |
|  H & M Hennes & Mauritz AB, Class B(x) | 6147 | 114427 |
|  Home Depot, Inc. (The) | 8039 | 3257323 |
|  Industria de Diseno Textil SA | 11892 | 655786 |
|  JD Sports Fashion plc | 27645 | 35432 |
|  Kingfisher plc | 19130 | 79422 |
|  Lowe's Cos., Inc. | 4528 | 1137932 |
|  Nitori Holdings Co. Ltd.(x) | 4265 | 82295 |
|  O'Reilly Automotive, Inc.\* | 6856 | 739145 |
|  Ross Stores, Inc. | 2643 | 402767 |
|  Sanrio Co. Ltd.(x) | 1900 | 89305 |
|  TJX Cos., Inc. (The) | 9014 | 1302884 |
|  Tractor Supply Co. | 4282 | 243517 |
|  Ulta Beauty, Inc.\* | 363 | 198470 |
|  Williams-Sonoma, Inc. | 994 | 194277 |
|  Zalando SE(m)\* | 2447 | 74724 |
|  ZOZO, Inc.(x) | 4823 | 44354 |
|  |  | 10077052 |
|  ***Textiles, Apparel & Luxury Goods (0.6%)*** |  |  |
|  adidas AG | 1864 | 392604 |
|  Asics Corp. | 7580 | 198463 |
|  Cie Financiere Richemont SA (Registered) | 5863 | 1116552 |
|  Deckers Outdoor Corp.\* | 1199 | 121543 |
|  Hermes International SCA | 345 | 843714 |
|  Kering SA | 812 | 269363 |
|  Lululemon Athletica, Inc.\* | 881 | 156756 |
|  LVMH Moet Hennessy Louis Vuitton SE | 2727 | 1666451 |
|  Moncler SpA | 2546 | 149068 |
|  NIKE, Inc., Class B | 9599 | 669338 |
|  Pandora A/S | 861 | 112181 |
|  Ralph Lauren Corp. | 313 | 98144 |
|  Swatch Group AG (The)(x) | 315 | 59138 |
|  Tapestry, Inc. | 1682 | 190436 |
|  |  | 6043751 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 70311404 |
|  **Consumer Staples (3.8%)** |  |  |
|  ***Beverages (0.7%)*** |  |  |
|  Anheuser-Busch InBev SA/NV | 10777 | 642759 |
|  Asahi Group Holdings Ltd. | 15799 | 189682 |
|  Brown-Forman Corp., Class B | 1423 | 38535 |
|  Carlsberg A/S, Class B | 1025 | 119104 |
|  Coca-Cola Co. (The) | 31295 | 2075484 |
|  Coca-Cola Europacific Partners plc | 2511 | 227020 |
|  Coca-Cola HBC AG | 2377 | 112017 |
|  Constellation Brands, Inc., Class A | 1154 | 155409 |
|  Davide Campari-Milano NV(x) | 6709 | 42298 |
|  Diageo plc | 24265 | 579417 |
|  Heineken Holding NV | 1413 | 96799 |
|  Heineken NV | 3140 | 244859 |
|  Keurig Dr Pepper, Inc. | 10976 | 279998 |
|  Kirin Holdings Co. Ltd. | 8479 | 124274 |
|  Molson Coors Beverage Co., Class B | 1369 | 61947 |
|  Monster Beverage Corp.\* | 5759 | 387638 |
|  PepsiCo, Inc. | 11062 | 1553547 |
|  Pernod Ricard SA | 2200 | 215776 |
|  Suntory Beverage & Food Ltd. | 1481 | 46317 |
|  |  | 7192880 |
|  ***Consumer Staples Distribution & Retail (1.1%)*** |  |  |
|  Aeon Co. Ltd. | 24207 | 293820 |
|  Carrefour SA | 6420 | 97195 |
|  Coles Group Ltd. | 14622 | 225339 |
|  Costco Wholesale Corp. | 3583 | 3316532 |
|  Dollar General Corp. | 1778 | 183756 |
|  Dollar Tree, Inc.\* | 1568 | 147972 |
|  J Sainsbury plc | 18794 | 84422 |
|  Jeronimo Martins SGPS SA | 3086 | 74999 |
|  Kesko OYJ, Class B | 2977 | 63262 |
|  Kobe Bussan Co. Ltd. | 1603 | 44052 |
|  Koninklijke Ahold Delhaize NV | 9897 | 400294 |
|  Kroger Co. (The) | 4915 | 331320 |
|  Marks & Spencer Group plc | 22413 | 109872 |
|  MatsukiyoCocokara & Co. | 3544 | 71990 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Seven & i Holdings Co. Ltd. | 22694 | $305533 |
|  Sysco Corp. | 3858 | 317668 |
|  Target Corp. | 3671 | 329289 |
|  Tesco plc | 71574 | 428838 |
|  Walmart, Inc. | 35464 | 3654920 |
|  Woolworths Group Ltd. | 13318 | 235294 |
|  |  | 10716367 |
|  ***Food Products (0.7%)*** |  |  |
|  Ajinomoto Co., Inc. | 9851 | 282837 |
|  Archer-Daniels-Midland Co. | 3882 | 231911 |
|  Associated British Foods plc | 3521 | 97123 |
|  Barry Callebaut AG (Registered)(x) | 39 | 53401 |
|  Bunge Global SA | 1132 | 91975 |
|  Campbell's Co. (The)(x) | 1590 | 50212 |
|  Chocoladefabriken Lindt & Spruengli AG | 10 | 152754 |
|  Chocoladefabriken Lindt & Spruengli AG (Registered) | 1 | 150242 |
|  Conagra Brands, Inc. | 3871 | 70878 |
|  Danone SA | 7057 | 614436 |
|  General Mills, Inc. | 4320 | 217814 |
|  Hershey Co. (The) | 1197 | 223899 |
|  Hormel Foods Corp. | 2355 | 58263 |
|  J M Smucker Co. (The) | 862 | 93613 |
|  JDE Peet's NV | 1862 | 68206 |
|  Kellanova | 2172 | 178147 |
|  Kerry Group plc, Class A | 1784 | 160753 |
|  Kikkoman Corp.(x) | 7432 | 63070 |
|  Kraft Heinz Co. (The) | 6885 | 179285 |
|  Lamb Weston Holdings, Inc. | 1126 | 65398 |
|  Lotus Bakeries NV | 4 | 37664 |
|  McCormick & Co., Inc. (Non-Voting) | 2044 | 136764 |
|  Meiji Holdings Co. Ltd.(x) | 2656 | 55065 |
|  Mondelez International, Inc., Class A | 10455 | 653124 |
|  Mowi ASA | 5072 | 107137 |
|  Nestle SA (Registered) | 28099 | 2579227 |
|  Nissin Foods Holdings Co. Ltd.(x) | 2096 | 39487 |
|  Orkla ASA | 7640 | 79772 |
|  Salmar ASA | 729 | 38935 |
|  Tyson Foods, Inc., Class A | 2309 | 125379 |
|  WH Group Ltd.(m) | 93380 | 101156 |
|  Wilmar International Ltd. | 20473 | 45233 |
|  Yakult Honsha Co. Ltd.(x) | 2734 | 44582 |
|  |  | 7147742 |
|  ***Household Products (0.5%)*** |  |  |
|  Church & Dwight Co., Inc. | 1968 | 172456 |
|  Clorox Co. (The) | 988 | 121820 |
|  Colgate-Palmolive Co. | 6530 | 522008 |
|  Essity AB, Class B | 6566 | 171431 |
|  Henkel AG & Co. KGaA | 1133 | 84002 |
|  Henkel AG & Co. KGaA (Preference)(q) | 1748 | 140989 |
|  Kimberly-Clark Corp. | 2681 | 333355 |
|  Procter & Gamble Co. (The) | 18926 | 2907980 |
|  Reckitt Benckiser Group plc | 7405 | 569455 |
|  Unicharm Corp. | 12209 | 79206 |
|  |  | 5102702 |
|  ***Personal Care Products (0.3%)*** |  |  |
|  Beiersdorf AG | 1061 | 110865 |
|  Estee Lauder Cos., Inc. (The), Class A | 1892 | 166723 |
|  Kao Corp. | 5065 | 220944 |
|  Kenvue, Inc. | 15506 | 251663 |
|  L'Oreal SA | 2622 | 1134375 |
|  Shiseido Co. Ltd. | 4363 | 74553 |
|  Unilever plc | 26738 | 1582237 |
|  |  | 3541360 |
|  ***Tobacco (0.5%)*** |  |  |
|  Altria Group, Inc. | 13573 | 896632 |
|  British American Tobacco plc | 22734 | 1206794 |
|  Imperial Brands plc | 8416 | 357444 |
|  Japan Tobacco, Inc. | 13089 | 430326 |
|  Philip Morris International, Inc. | 12577 | 2039989 |
|  |  | 4931185 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 38632236 |
|  **Energy (2.0%)** |  |  |
|  ***Energy Equipment & Services (0.1%)*** |  |  |
|  Baker Hughes Co. | 7966 | 388104 |
|  Halliburton Co. | 6889 | 169469 |
|  Schlumberger NV | 12055 | 414330 |
|  Tenaris SA | 4089 | 72923 |
|  |  | 1044826 |
|  ***Oil, Gas & Consumable Fuels (1.9%)*** |  |  |
|  Aker BP ASA | 3444 | 87346 |
|  APA Corp. | 2891 | 70193 |
|  BP plc | 172973 | 990428 |
|  Chevron Corp. | 15550 | 2414760 |
|  ConocoPhillips | 10091 | 954508 |
|  Coterra Energy, Inc. | 6166 | 145826 |
|  Devon Energy Corp. | 5129 | 179823 |
|  Diamondback Energy, Inc. | 1520 | 217512 |
|  ENEOS Holdings, Inc. | 29490 | 187427 |
|  Eni SpA(x) | 22299 | 389194 |
|  EOG Resources, Inc. | 4411 | 494561 |
|  EQT Corp. | 5042 | 274436 |
|  Equinor ASA | 8362 | 203948 |
|  Expand Energy Corp. | 1924 | 204406 |
|  Exxon Mobil Corp. | 34446 | 3883787 |
|  Galp Energia SGPS SA | 4547 | 85948 |
|  Idemitsu Kosan Co. Ltd.(x) | 8447 | 58033 |
|  Inpex Corp. | 9593 | 173392 |
|  Kinder Morgan, Inc. | 15799 | 447270 |
|  Marathon Petroleum Corp. | 2456 | 473369 |
|  Neste OYJ | 4611 | 84370 |
|  Occidental Petroleum Corp. | 5806 | 274334 |
|  OMV AG | 1605 | 85587 |
|  ONEOK, Inc. | 5088 | 371271 |
|  Phillips 66 | 3265 | 444105 |
|  Repsol SA | 12617 | 223158 |
|  Santos Ltd. | 35402 | 157654 |
|  Shell plc | 64264 | 2287334 |
|  Targa Resources Corp. | 1739 | 291352 |
|  Texas Pacific Land Corp.(x) | 156 | 145648 |
|  TotalEnergies SE | 22390 | 1359825 |
|  Valero Energy Corp. | 2510 | 427353 |
|  Williams Cos., Inc. (The) | 9867 | 625074 |
|  Woodside Energy Group Ltd. | 20700 | 315446 |
|  |  | 19028678 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 20073504 |
|  **Financials (11.3%)** |  |  |
|  ***Banks (4.6%)*** |  |  |
|  ABN AMRO Bank NV (CVA)(m) | 6357 | 203379 |
|  AIB Group plc | 23293 | 210983 |
|  ANZ Group Holdings Ltd. | 32532 | 714893 |
|  Banca Monte dei Paschi di Siena SpA | 21521 | 190511 |
|  Banco Bilbao Vizcaya Argentaria SA | 62853 | 1205771 |
|  Banco BPM SpA | 12387 | 185059 |
|  Banco Comercial Portugues SA, Class R | 90598 | 80115 |
|  Banco de Sabadell SA | 53643 | 207833 |
|  Banco Santander SA | 162332 | 1691259 |
|  Bank Hapoalim BM | 13627 | 276967 |
|  Bank Leumi Le-Israel BM | 16284 | 320990 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Bank of America Corp. | 55059 | $2840494 |
|  Bank of Ireland Group plc | 10500 | 172770 |
|  Bankinter SA | 7348 | 115644 |
|  Banque Cantonale Vaudoise (Registered) | 328 | 38690 |
|  Barclays plc | 154213 | 787294 |
|  BNP Paribas SA | 11099 | 1007670 |
|  BOC Hong Kong Holdings Ltd. | 40438 | 189876 |
|  BPER Banca SpA | 15938 | 176567 |
|  CaixaBank SA | 42486 | 446233 |
|  Chiba Bank Ltd. (The)(x) | 6184 | 65003 |
|  Citigroup, Inc. | 14874 | 1509711 |
|  Citizens Financial Group, Inc. | 3485 | 185263 |
|  Commerzbank AG | 8395 | 316284 |
|  Commonwealth Bank of Australia | 18251 | 2015599 |
|  Credit Agricole SA | 11545 | 226630 |
|  Danske Bank A/S | 7282 | 310267 |
|  DBS Group Holdings Ltd. | 23234 | 921291 |
|  DNB Bank ASA | 9665 | 262942 |
|  Erste Group Bank AG | 3356 | 327817 |
|  Fifth Third Bancorp | 5348 | 238253 |
|  FinecoBank Banca Fineco SpA | 6665 | 144020 |
|  Hang Seng Bank Ltd. | 8224 | 125231 |
|  HSBC Holdings plc | 190228 | 2673503 |
|  Huntington Bancshares, Inc. | 11844 | 204546 |
|  ING Groep NV | 32954 | 854074 |
|  Intesa Sanpaolo SpA | 155328 | 1023785 |
|  Israel Discount Bank Ltd., Class A | 13360 | 132059 |
|  Japan Post Bank Co. Ltd. | 19477 | 238976 |
|  JPMorgan Chase & Co. | 22217 | 7007908 |
|  KBC Group NV | 2504 | 298245 |
|  KeyCorp | 7531 | 140754 |
|  Lloyds Banking Group plc | 653154 | 736297 |
|  M&T Bank Corp. | 1263 | 249594 |
|  Mitsubishi UFJ Financial Group, Inc. | 124982 | 2023240 |
|  Mizrahi Tefahot Bank Ltd. | 1700 | 111838 |
|  Mizuho Financial Group, Inc. | 27409 | 924476 |
|  National Australia Bank Ltd. | 33405 | 975896 |
|  NatWest Group plc | 88302 | 619438 |
|  Nordea Bank Abp | 34047 | 558621 |
|  Oversea-Chinese Banking Corp. Ltd. | 37088 | 472675 |
|  PNC Financial Services Group, Inc. (The) | 3182 | 639359 |
|  Regions Financial Corp. | 7210 | 190128 |
|  Resona Holdings, Inc. | 22685 | 231705 |
|  Skandinaviska Enskilda Banken AB, Class A | 16504 | 322388 |
|  Societe Generale SA | 7853 | 519629 |
|  Standard Chartered plc | 21542 | 415891 |
|  Sumitomo Mitsui Financial Group, Inc. | 40234 | 1136134 |
|  Sumitomo Mitsui Trust Group, Inc. | 7019 | 204042 |
|  Svenska Handelsbanken AB, Class A | 15900 | 206722 |
|  Swedbank AB, Class A | 9256 | 278435 |
|  Truist Financial Corp. | 10418 | 476311 |
|  UniCredit SpA | 15289 | 1157240 |
|  United Overseas Bank Ltd. | 13475 | 361228 |
|  US Bancorp | 12574 | 607701 |
|  Wells Fargo & Co. | 25883 | 2169513 |
|  Westpac Banking Corp. | 37320 | 962350 |
|  Yokohama Financial Group, Inc. | 11199 | 86102 |
|  |  | 46922112 |
|  ***Capital Markets (2.3%)*** |  |  |
|  3i Group plc | 10612 | 583585 |
|  Ameriprise Financial, Inc. | 762 | 374333 |
|  Amundi SA(m) | 672 | 53176 |
|  ASX Ltd. | 2118 | 82113 |
|  Bank of New York Mellon Corp. (The) | 5698 | 620854 |
|  BlackRock, Inc. | 1164 | 1357073 |
|  Blackstone, Inc. | 5956 | 1017583 |
|  Cboe Global Markets, Inc. | 845 | 207236 |
|  Charles Schwab Corp. (The) | 13787 | 1316245 |
|  CME Group, Inc. | 2912 | 786793 |
|  Coinbase Global, Inc., Class A\* | 1827 | 616594 |
|  CVC Capital Partners plc(m) | 2317 | 40314 |
|  Daiwa Securities Group, Inc.(x) | 14516 | 118034 |
|  Deutsche Bank AG (Registered) | 20181 | 709620 |
|  Deutsche Boerse AG | 2053 | 549795 |
|  EQT AB | 4037 | 139621 |
|  Euronext NV(m) | 852 | 127437 |
|  FactSet Research Systems, Inc. | 305 | 87379 |
|  Franklin Resources, Inc. | 2475 | 57247 |
|  Futu Holdings Ltd. (ADR) | 697 | 121215 |
|  Goldman Sachs Group, Inc. (The) | 2446 | 1947872 |
|  Hong Kong Exchanges & Clearing Ltd. | 13136 | 746100 |
|  Interactive Brokers Group, Inc., Class A | 3597 | 247510 |
|  Intercontinental Exchange, Inc. | 4625 | 779220 |
|  Invesco Ltd. | 3603 | 82653 |
|  Japan Exchange Group, Inc. | 10776 | 120413 |
|  Julius Baer Group Ltd. | 2245 | 154997 |
|  KKR & Co., Inc. | 5543 | 720313 |
|  London Stock Exchange Group plc | 5180 | 593274 |
|  Macquarie Group Ltd. | 3947 | 572831 |
|  Moody's Corp. | 1247 | 594171 |
|  Morgan Stanley | 9802 | 1558126 |
|  MSCI, Inc. | 625 | 354631 |
|  Nasdaq, Inc. | 3663 | 323992 |
|  Nomura Holdings, Inc. | 32730 | 240244 |
|  Northern Trust Corp. | 1545 | 207957 |
|  Partners Group Holding AG | 247 | 320676 |
|  Raymond James Financial, Inc. | 1434 | 247508 |
|  Robinhood Markets, Inc., Class A\* | 6253 | 895305 |
|  S&P Global, Inc. | 2525 | 1228943 |
|  SBI Holdings, Inc. | 3103 | 135043 |
|  Schroders plc | 7899 | 39944 |
|  Singapore Exchange Ltd. | 9136 | 117073 |
|  State Street Corp. | 2292 | 265895 |
| T. Rowe Price Group, Inc. | 1775 | 182186 |
|  UBS Group AG (Registered) | 34621 | 1413892 |
|  |  | 23057016 |
|  ***Consumer Finance (0.3%)*** |  |  |
|  American Express Co. | 4386 | 1456854 |
|  Capital One Financial Corp. | 5167 | 1098401 |
|  Synchrony Financial | 3006 | 213576 |
|  |  | 2768831 |
|  ***Financial Services (2.0%)*** |  |  |
|  Adyen NV(m)\* | 275 | 440709 |
|  Apollo Global Management, Inc. | 3718 | 495498 |
|  Banca Mediolanum SpA | 2437 | 48783 |
|  Berkshire Hathaway, Inc., Class B\* | 14816 | 7448596 |
|  Block, Inc., Class A\* | 4440 | 320879 |
|  Corpay, Inc.\* | 571 | 164482 |
|  Edenred SE | 2615 | 62017 |
|  EXOR NV | 1019 | 99537 |
|  Fidelity National Information Services, Inc. | 4221 | 278333 |
|  Fiserv, Inc.\* | 4392 | 566260 |
|  Global Payments, Inc. | 1960 | 162837 |
|  Groupe Bruxelles Lambert NV | 871 | 77768 |
|  Industrivarden AB, Class A | 1292 | 51217 |
|  Industrivarden AB, Class C(x) | 1699 | 67296 |
|  Infratil Ltd. | 10143 | 72623 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Investor AB, Class B | 18870 | $589387 |
|  Jack Henry & Associates, Inc. | 588 | 87571 |
|  L E Lundbergforetagen AB, Class B | 828 | 42955 |
|  M&G plc | 24899 | 84721 |
|  Mastercard, Inc., Class A | 6670 | 3793963 |
|  Mitsubishi HC Capital, Inc. | 9580 | 79194 |
|  Nexi SpA(m)(x) | 6033 | 34112 |
|  ORIX Corp.(x) | 12701 | 333403 |
|  PayPal Holdings, Inc.\* | 7719 | 517636 |
|  Sofina SA(x) | 168 | 49507 |
|  Visa, Inc., Class A | 13725 | 4685440 |
|  Washington H Soul Pattinson & Co. Ltd. | 2606 | 66372 |
|  Wise plc, Class A\* | 7262 | 101085 |
|  |  | 20822181 |
|  ***Insurance (2.1%)*** |  |  |
|  Admiral Group plc | 2838 | 127940 |
|  Aegon Ltd. | 14412 | 115600 |
|  Aflac, Inc. | 3889 | 434401 |
|  Ageas SA/NV | 1626 | 112440 |
|  AIA Group Ltd. | 116024 | 1112985 |
|  Allianz SE (Registered) | 4211 | 1766959 |
|  Allstate Corp. (The) | 2129 | 456990 |
|  American International Group, Inc. | 4476 | 351545 |
|  Aon plc, Class A | 1742 | 621162 |
|  Arch Capital Group Ltd. | 3003 | 272462 |
|  Arthur J Gallagher & Co. | 2071 | 641472 |
|  ASR Nederland NV | 1580 | 107182 |
|  Assurant, Inc. | 408 | 88373 |
|  Aviva plc | 33327 | 307386 |
|  AXA SA | 19329 | 922252 |
|  Baloise Holding AG (Registered) | 449 | 110776 |
|  Brown & Brown, Inc. | 2367 | 222001 |
|  Chubb Ltd. | 2996 | 845621 |
|  Cincinnati Financial Corp. | 1256 | 198574 |
|  Dai-ichi Life Holdings, Inc. | 38285 | 301858 |
|  Erie Indemnity Co., Class A | 205 | 65223 |
|  Everest Group Ltd. | 339 | 118728 |
|  Generali | 9293 | 364518 |
|  Gjensidige Forsikring ASA | 2180 | 63917 |
|  Globe Life, Inc. | 654 | 93502 |
|  Hannover Rueck SE | 657 | 197929 |
|  Hartford Insurance Group, Inc. (The) | 2272 | 303062 |
|  Helvetia Holding AG (Registered) | 405 | 99056 |
|  Insurance Australia Group Ltd. | 25779 | 139875 |
|  Japan Post Holdings Co. Ltd. | 19402 | 192859 |
|  Japan Post Insurance Co. Ltd. | 2041 | 57869 |
|  Legal & General Group plc | 62518 | 200111 |
|  Loews Corp. | 1374 | 137936 |
|  Marsh & McLennan Cos., Inc. | 3972 | 800477 |
|  Medibank Pvt Ltd. | 30015 | 95730 |
|  MetLife, Inc. | 4514 | 371818 |
|  MS&AD Insurance Group Holdings, Inc. | 14011 | 317956 |
|  Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered) | 1425 | 909120 |
|  NN Group NV | 2932 | 206195 |
|  Phoenix Financial Ltd. | 2463 | 92208 |
|  Phoenix Group Holdings plc | 7657 | 66267 |
|  Poste Italiane SpA(m) | 4983 | 118117 |
|  Principal Financial Group, Inc. | 1638 | 135807 |
|  Progressive Corp. (The) | 4736 | 1169555 |
|  Prudential Financial, Inc. | 2844 | 295037 |
|  Prudential plc | 28149 | 394098 |
|  QBE Insurance Group Ltd. | 16461 | 224271 |
|  Sampo OYJ, Class A | 26396 | 303022 |
|  Sompo Holdings, Inc. | 9700 | 300081 |
|  Sony Financial Group, Inc.\* | 67042 | 74348 |
|  Suncorp Group Ltd. | 11802 | 158218 |
|  Swiss Life Holding AG (Registered) | 311 | 334265 |
|  Swiss Re AG | 3257 | 601648 |
|  T&D Holdings, Inc.(x) | 5317 | 130224 |
|  Talanx AG | 704 | 93563 |
|  Tokio Marine Holdings, Inc. | 20072 | 850873 |
|  Travelers Cos., Inc. (The) | 1819 | 507901 |
|  Tryg A/S | 3665 | 92979 |
|  Unipol Assicurazioni SpA | 3910 | 83823 |
|  W.R. Berkley Corp. | 2418 | 185267 |
|  Willis Towers Watson plc | 788 | 272215 |
|  Zurich Insurance Group AG | 1596 | 1135976 |
|  |  | 21473623 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 115043763 |
|  **Health Care (6.2%)** |  |  |
|  ***Biotechnology (0.9%)*** |  |  |
|  AbbVie, Inc. | 14273 | 3304771 |
|  Amgen, Inc. | 4350 | 1227570 |
|  Argenx SE\* | 667 | 483324 |
|  Biogen, Inc.\* | 1185 | 165995 |
|  CSL Ltd. | 5280 | 692466 |
|  Genmab A/S\* | 664 | 201298 |
|  Gilead Sciences, Inc. | 10025 | 1112775 |
|  Grifols SA | 3251 | 47043 |
|  Incyte Corp.\* | 1325 | 112373 |
|  Moderna, Inc.\* | 2798 | 72272 |
|  Regeneron Pharmaceuticals, Inc. | 823 | 462748 |
|  Swedish Orphan Biovitrum AB\* | 2134 | 65010 |
|  Vertex Pharmaceuticals, Inc.\* | 2072 | 811478 |
|  |  | 8759123 |
|  ***Health Care Equipment & Supplies (1.3%)*** |  |  |
|  Abbott Laboratories | 14062 | 1883464 |
|  Alcon AG | 5448 | 405563 |
|  Align Technology, Inc.\* | 545 | 68245 |
|  Baxter International, Inc. | 4150 | 94495 |
|  Becton Dickinson & Co. | 2316 | 433486 |
|  BioMerieux | 451 | 60257 |
|  Boston Scientific Corp.\* | 11972 | 1168826 |
|  Cochlear Ltd. | 713 | 131748 |
|  Coloplast A/S, Class B | 1375 | 117430 |
|  Cooper Cos., Inc. (The)\* | 1612 | 110519 |
|  Demant A/S\* | 932 | 32278 |
|  Dexcom, Inc.\* | 3169 | 213242 |
|  Edwards Lifesciences Corp.\* | 4744 | 368941 |
|  EssilorLuxottica SA | 3283 | 1063816 |
|  Fisher & Paykel Healthcare Corp. Ltd. | 6390 | 137256 |
|  GE HealthCare Technologies, Inc. | 3689 | 277044 |
|  Hologic, Inc.\* | 1797 | 121280 |
|  Hoya Corp. | 3712 | 513934 |
|  IDEXX Laboratories, Inc.\* | 646 | 412723 |
|  Insulet Corp.\* | 569 | 175667 |
|  Intuitive Surgical, Inc.\* | 2896 | 1295178 |
|  Koninklijke Philips NV | 8397 | 227140 |
|  Medtronic plc | 10352 | 985924 |
|  Olympus Corp. | 12423 | 157172 |
|  ResMed, Inc. | 1183 | 323823 |
|  Siemens Healthineers AG(m) | 3689 | 199316 |
|  Smith & Nephew plc | 9070 | 163151 |
|  Solventum Corp.\* | 1191 | 86943 |
|  Sonova Holding AG (Registered) | 552 | 150196 |
|  STERIS plc | 796 | 196962 |
|  Straumann Holding AG (Registered) | 1217 | 129795 |
|  Stryker Corp. | 2780 | 1027683 |
|  Sysmex Corp. | 5466 | 67436 |
|  Terumo Corp. | 14501 | 239551 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Zimmer Biomet Holdings, Inc. | 1601 | $157698 |
|  |  | 13198182 |
|  ***Health Care Providers & Services (0.8%)*** |  |  |
|  Cardinal Health, Inc. | 1929 | 302776 |
|  Cencora, Inc. | 1566 | 489422 |
|  Centene Corp.\* | 3770 | 134514 |
|  Cigna Group (The) | 2157 | 621755 |
|  CVS Health Corp. | 10248 | 772597 |
|  DaVita, Inc.\* | 289 | 38399 |
|  Elevance Health, Inc. | 1819 | 587755 |
|  Fresenius Medical Care AG | 2399 | 125787 |
|  Fresenius SE & Co. KGaA | 4605 | 256268 |
|  HCA Healthcare, Inc. | 1323 | 563863 |
|  Henry Schein, Inc.\* | 833 | 55286 |
|  Humana, Inc. | 972 | 252885 |
|  Labcorp Holdings, Inc. | 671 | 192617 |
|  McKesson Corp. | 1005 | 776403 |
|  Molina Healthcare, Inc.\* | 438 | 83816 |
|  NMC Health plc(r)\* | 907 |  |
|  Quest Diagnostics, Inc. | 903 | 172094 |
|  Sigma Healthcare Ltd. | 50324 | 98899 |
|  Sonic Healthcare Ltd. | 5117 | 72594 |
|  UnitedHealth Group, Inc. | 7318 | 2526905 |
|  Universal Health Services, Inc., Class B | 456 | 93225 |
|  |  | 8217860 |
|  ***Health Care Technology (0.0%)†*** |  |  |
|  M3, Inc.(x) | 4804 | 77508 |
|  Pro Medicus Ltd. | 626 | 127701 |
|  |  | 205209 |
|  ***Life Sciences Tools & Services (0.4%)*** |  |  |
|  Agilent Technologies, Inc. | 2295 | 294563 |
|  Bio-Techne Corp. | 1267 | 70483 |
|  Charles River Laboratories International, Inc.\* | 398 | 62271 |
|  Danaher Corp. | 5149 | 1020841 |
|  Eurofins Scientific SE | 1290 | 93567 |
|  IQVIA Holdings, Inc.\* | 1374 | 260978 |
|  Lonza Group AG (Registered) | 766 | 507299 |
|  Mettler-Toledo International, Inc.\* | 166 | 203783 |
|  QIAGEN NV | 2360 | 104444 |
|  Revvity, Inc. | 938 | 82216 |
|  Sartorius AG (Preference)(q) | 286 | 66450 |
|  Sartorius Stedim Biotech | 318 | 64234 |
|  Thermo Fisher Scientific, Inc. | 3051 | 1479796 |
|  Waters Corp.\* | 481 | 144209 |
|  West Pharmaceutical Services, Inc. | 581 | 152414 |
|  |  | 4607548 |
|  ***Pharmaceuticals (2.8%)*** |  |  |
|  Astellas Pharma, Inc.(x) | 19686 | 213054 |
|  AstraZeneca plc | 16911 | 2543190 |
|  Bayer AG (Registered) | 10710 | 354966 |
|  Bristol-Myers Squibb Co. | 16446 | 741715 |
|  Chugai Pharmaceutical Co. Ltd. | 7357 | 320776 |
|  Daiichi Sankyo Co. Ltd. | 18575 | 416378 |
|  Eisai Co. Ltd.(x) | 2897 | 97458 |
|  Eli Lilly & Co. | 6424 | 4901512 |
|  Galderma Group AG | 1426 | 247743 |
|  GSK plc | 44541 | 943176 |
|  Haleon plc | 97953 | 437894 |
|  Hikma Pharmaceuticals plc | 1814 | 41425 |
|  Ipsen SA | 411 | 54816 |
|  Johnson & Johnson | 19459 | 3608088 |
|  Kyowa Kirin Co. Ltd. | 2620 | 40721 |
|  Merck & Co., Inc. | 20181 | 1693791 |
|  Merck KGaA | 1409 | 181056 |
|  Novartis AG (Registered) | 20734 | 2607736 |
|  Novo Nordisk A/S, Class B | 35124 | 1903962 |
|  Orion OYJ, Class B | 1186 | 90716 |
|  Otsuka Holdings Co. Ltd. | 4706 | 250089 |
|  Pfizer, Inc. | 45938 | 1170500 |
|  Recordati Industria Chimica e Farmaceutica SpA | 1254 | 76116 |
|  Roche Holding AG (BMV Mexico Stock Exchange) | 7662 | 2501544 |
|  Roche Holding AG (OTC US Exchange) | 349 | 119336 |
|  Sandoz Group AG | 4557 | 270025 |
|  Sanofi SA | 12051 | 1111363 |
|  Shionogi & Co. Ltd. | 8259 | 144729 |
|  Takeda Pharmaceutical Co. Ltd. | 17355 | 506385 |
|  Teva Pharmaceutical Industries Ltd. (ADR)\* | 12503 | 252561 |
|  UCB SA | 1378 | 380193 |
|  Viatris, Inc. | 9420 | 93258 |
|  Zoetis, Inc. | 3581 | 523972 |
|  |  | 28840244 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 63828166 |
|  **Industrials (7.8%)** |  |  |
|  ***Aerospace & Defense (1.8%)*** |  |  |
|  Airbus SE | 6480 | 1501788 |
|  Axon Enterprise, Inc.\* | 634 | 454984 |
|  BAE Systems plc | 32848 | 909610 |
|  Boeing Co. (The)\* | 6110 | 1318721 |
|  Dassault Aviation SA | 214 | 71505 |
|  Elbit Systems Ltd. | 303 | 153412 |
|  GE Aerospace | 8568 | 2577426 |
|  General Dynamics Corp. | 2040 | 695640 |
|  Hensoldt AG | 692 | 89612 |
|  Howmet Aerospace, Inc. | 3257 | 639121 |
|  Huntington Ingalls Industries, Inc. | 317 | 91267 |
|  Kongsberg Gruppen ASA | 4793 | 153186 |
|  L3Harris Technologies, Inc. | 1512 | 461780 |
|  Leonardo SpA | 4412 | 279819 |
|  Lockheed Martin Corp. | 1660 | 828689 |
|  Melrose Industries plc | 13860 | 113482 |
|  MTU Aero Engines AG | 587 | 269396 |
|  Northrop Grumman Corp. | 1087 | 662331 |
|  Rheinmetall AG | 501 | 1167281 |
|  Rolls-Royce Holdings plc | 92143 | 1474685 |
|  RTX Corp. | 10815 | 1809674 |
|  Saab AB, Class B(x) | 3492 | 213094 |
|  Safran SA | 3927 | 1383609 |
|  Singapore Technologies Engineering Ltd. | 16639 | 111060 |
|  Textron, Inc. | 1440 | 121666 |
|  Thales SA | 1010 | 316132 |
|  TransDigm Group, Inc. | 455 | 599699 |
|  |  | 18468669 |
|  ***Air Freight & Logistics (0.2%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 954 | 126310 |
|  Deutsche Post AG | 10466 | 466192 |
|  DSV A/S | 2228 | 443108 |
|  Expeditors International of Washington, Inc. | 1097 | 134481 |
|  FedEx Corp. | 1754 | 413611 |
|  InPost SA\* | 2724 | 33420 |
|  SG Holdings Co. Ltd.(x) | 3112 | 32175 |
|  United Parcel Service, Inc., Class B | 5947 | 496753 |
|  |  | 2146050 |
|  ***Building Products (0.4%)*** |  |  |
|  A.O. Smith Corp. | 923 | 67757 |
|  AGC, Inc. | 2085 | 68027 |
|  Allegion plc | 694 | 123081 |
|  Assa Abloy AB, Class B | 10927 | 379074 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Belimo Holding AG (Registered) | 107 | $111765 |
|  Builders FirstSource, Inc.\* | 893 | 108276 |
|  Carrier Global Corp. | 6463 | 385841 |
|  Cie de Saint-Gobain SA | 4897 | 526983 |
|  Daikin Industries Ltd. | 2911 | 336206 |
|  Geberit AG (Registered) | 370 | 277576 |
|  Johnson Controls International plc | 5268 | 579217 |
|  Kingspan Group plc | 1687 | 140228 |
|  Lennox International, Inc. | 258 | 136575 |
|  Masco Corp. | 1692 | 119100 |
|  Nibe Industrier AB, Class B | 16517 | 64984 |
|  ROCKWOOL A/S, Class B | 1051 | 39028 |
|  Trane Technologies plc | 1798 | 758684 |
|  |  | 4222402 |
|  ***Commercial Services & Supplies (0.3%)*** |  |  |
|  Brambles Ltd. | 14902 | 244544 |
|  Cintas Corp. | 2768 | 568160 |
|  Copart, Inc.\* | 7188 | 323244 |
|  Dai Nippon Printing Co. Ltd. | 4336 | 73755 |
|  Rentokil Initial plc | 27531 | 139145 |
|  Republic Services, Inc. | 1640 | 376347 |
|  Rollins, Inc. | 2271 | 133398 |
|  Secom Co. Ltd. | 4575 | 167829 |
|  Securitas AB, Class B | 5360 | 80619 |
|  TOPPAN Holdings, Inc. | 2547 | 65361 |
|  Veralto Corp. | 2005 | 213753 |
|  Waste Management, Inc. | 2994 | 661165 |
|  |  | 3047320 |
|  ***Construction & Engineering (0.3%)*** |  |  |
|  ACS Actividades de Construccion y Servicios SA | 1954 | 155998 |
|  Bouygues SA | 2086 | 93848 |
|  Eiffage SA | 748 | 95459 |
|  EMCOR Group, Inc. | 362 | 235133 |
|  Ferrovial SE | 5599 | 320656 |
|  Kajima Corp. | 4625 | 134980 |
|  Obayashi Corp. | 7120 | 116945 |
|  Quanta Services, Inc. | 1204 | 498962 |
|  Skanska AB, Class B | 3709 | 96090 |
|  Taisei Corp. | 1656 | 113883 |
|  Vinci SA | 5394 | 746957 |
|  |  | 2608911 |
|  ***Electrical Equipment (1.0%)*** |  |  |
|  ABB Ltd. (Registered) | 17093 | 1230791 |
|  AMETEK, Inc. | 1866 | 350808 |
|  Eaton Corp. plc | 3145 | 1177016 |
|  Emerson Electric Co. | 4547 | 596475 |
|  Fuji Electric Co. Ltd.(x) | 1432 | 96290 |
|  Fujikura Ltd. | 2780 | 271731 |
|  GE Vernova, Inc. | 2200 | 1352780 |
|  Generac Holdings, Inc.\* | 474 | 79348 |
|  Hubbell, Inc., Class B | 429 | 184603 |
|  Legrand SA | 2859 | 471939 |
|  Mitsubishi Electric Corp. | 20769 | 534094 |
|  Nidec Corp. | 9096 | 161979 |
|  Prysmian SpA | 3069 | 303314 |
|  Rockwell Automation, Inc. | 908 | 317373 |
|  Schneider Electric SE | 5979 | 1667868 |
|  Siemens Energy AG\* | 7408 | 864692 |
|  Vestas Wind Systems A/S | 11009 | 207434 |
|  |  | 9868535 |
|  ***Ground Transportation (0.5%)*** |  |  |
|  Central Japan Railway Co. | 8433 | 241953 |
|  CSX Corp. | 15063 | 534887 |
|  East Japan Railway Co.(x) | 10472 | 256339 |
|  Grab Holdings Ltd., Class A\* | 25861 | 155683 |
|  Hankyu Hanshin Holdings, Inc.(x) | 2626 | 77492 |
|  JB Hunt Transport Services, Inc. | 618 | 82917 |
|  MTR Corp. Ltd.(x) | 16585 | 56221 |
|  Norfolk Southern Corp. | 1813 | 544643 |
|  Old Dominion Freight Line, Inc. | 1494 | 210325 |
|  Tokyo Metro Co. Ltd.(x) | 3196 | 36621 |
|  Tokyu Corp. | 5460 | 66605 |
|  Uber Technologies, Inc.\* | 16850 | 1650794 |
|  Union Pacific Corp. | 4792 | 1132685 |
|  West Japan Railway Co.(x) | 4668 | 102366 |
|  |  | 5149531 |
|  ***Industrial Conglomerates (0.6%)*** |  |  |
|  3M Co. | 4304 | 667895 |
|  CK Hutchison Holdings Ltd. | 29073 | 191468 |
|  DCC plc(x) | 1070 | 68671 |
|  Hikari Tsushin, Inc. | 188 | 52477 |
|  Hitachi Ltd. | 50014 | 1329107 |
|  Honeywell International, Inc. | 5130 | 1079865 |
|  Investment AB Latour, Class B | 1614 | 38214 |
|  Jardine Matheson Holdings Ltd. (London Stock Exchange) | 1609 | 98760 |
|  Jardine Matheson Holdings Ltd. (Singapore Stock Exchange) | 200 | 12600 |
|  Keppel Ltd. | 15522 | 107335 |
|  Lifco AB, Class B | 2541 | 85776 |
|  Sekisui Chemical Co. Ltd. | 4126 | 76865 |
|  Siemens AG (Registered) | 8288 | 2230237 |
|  Smiths Group plc | 3605 | 114033 |
|  Swire Pacific Ltd., Class A | 3792 | 32136 |
|  |  | 6185439 |
|  ***Machinery (1.3%)*** |  |  |
|  Alfa Laval AB | 3153 | 143476 |
|  Alstom SA\* | 3777 | 98089 |
|  Atlas Copco AB, Class A | 29284 | 494267 |
|  Atlas Copco AB, Class B | 17015 | 254744 |
|  Caterpillar, Inc. | 3785 | 1806013 |
|  Cummins, Inc. | 1113 | 470098 |
|  Daifuku Co. Ltd. | 3540 | 113536 |
|  Daimler Truck Holding AG | 5179 | 212936 |
|  Deere & Co. | 2035 | 930524 |
|  Dover Corp. | 1108 | 184848 |
|  Epiroc AB, Class A | 7182 | 151354 |
|  Epiroc AB, Class B | 4250 | 80085 |
|  FANUC Corp. | 10178 | 293327 |
|  Fortive Corp. | 2734 | 133939 |
|  GEA Group AG | 1597 | 117841 |
|  IDEX Corp. | 608 | 98958 |
|  IHI Corp. | 11200 | 209027 |
|  Illinois Tool Works, Inc. | 2143 | 558809 |
|  Indutrade AB | 2978 | 68263 |
|  Ingersoll Rand, Inc. | 2922 | 241416 |
|  Kawasaki Heavy Industries Ltd.(x) | 1600 | 105704 |
|  Knorr-Bremse AG | 791 | 74155 |
|  Komatsu Ltd. | 10328 | 360364 |
|  Kone OYJ, Class B | 3705 | 252292 |
|  Kubota Corp. | 10625 | 133850 |
|  Makita Corp. | 2436 | 79166 |
|  Metso OYJ | 7228 | 99159 |
|  Minebea Mitsumi, Inc. | 3968 | 74847 |
|  Mitsubishi Heavy Industries Ltd. | 34957 | 916916 |
|  Nordson Corp. | 434 | 98496 |
|  Otis Worldwide Corp. | 3171 | 289924 |
|  PACCAR, Inc. | 4243 | 417172 |
|  Parker-Hannifin Corp. | 1032 | 782411 |
|  Pentair plc | 1325 | 146757 |
|  Rational AG | 56 | 42670 |
|  Sandvik AB | 11624 | 323246 |
|  Schindler Holding AG | 444 | 167995 |
|  Schindler Holding AG (Registered) | 256 | 92135 |
|  SKF AB, Class B | 3718 | 92097 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SMC Corp. | 610 | $187391 |
|  Snap-on, Inc. | 421 | 145889 |
|  Spirax Group plc | 802 | 73507 |
|  Stanley Black & Decker, Inc. | 1251 | 92987 |
|  Techtronic Industries Co. Ltd. | 16146 | 206546 |
|  Toyota Industries Corp. | 1736 | 195334 |
|  Trelleborg AB, Class B | 2211 | 82316 |
|  VAT Group AG(m) | 294 | 116115 |
|  Volvo AB, Class B | 17320 | 495808 |
|  Wartsila OYJ Abp | 5482 | 163800 |
|  Westinghouse Air Brake Technologies Corp. | 1381 | 276849 |
|  Xylem, Inc. | 1967 | 290132 |
|  Yangzijiang Shipbuilding Holdings Ltd. | 28530 | 74535 |
|  |  | 13612115 |
|  ***Marine Transportation (0.1%)*** |  |  |
|  AP Moller - Maersk A/S, Class A(x) | 32 | 62560 |
|  AP Moller - Maersk A/S, Class B(x) | 43 | 84302 |
|  Kawasaki Kisen Kaisha Ltd.(x) | 3857 | 54927 |
|  Kuehne + Nagel International AG (Registered)(x) | 526 | 97892 |
|  Mitsui OSK Lines Ltd.(x) | 3770 | 114565 |
|  Nippon Yusen KK(x) | 4767 | 162816 |
|  SITC International Holdings Co. Ltd. | 14319 | 55127 |
|  |  | 632189 |
|  ***Passenger Airlines (0.1%)*** |  |  |
|  ANA Holdings, Inc. | 1703 | 32946 |
|  Delta Air Lines, Inc. | 5241 | 297427 |
|  Deutsche Lufthansa AG (Registered) | 6539 | 55337 |
|  International Consolidated Airlines Group SA | 13546 | 70485 |
|  Japan Airlines Co. Ltd. | 1537 | 31003 |
|  Qantas Airways Ltd. | 8081 | 58391 |
|  Ryanair Holdings plc | 9253 | 268328 |
|  Singapore Airlines Ltd. | 16867 | 85254 |
|  Southwest Airlines Co. | 4243 | 135394 |
|  United Airlines Holdings, Inc.\* | 2616 | 252444 |
|  |  | 1287009 |
|  ***Professional Services (0.6%)*** |  |  |
|  Automatic Data Processing, Inc. | 3273 | 960625 |
|  Broadridge Financial Solutions, Inc. | 946 | 225309 |
|  Bureau Veritas SA | 3463 | 108311 |
|  Computershare Ltd. | 5673 | 136226 |
|  Dayforce, Inc.\* | 1290 | 88868 |
|  Equifax, Inc. | 1000 | 256530 |
|  Experian plc | 10018 | 501473 |
|  Intertek Group plc | 1716 | 108977 |
|  Jacobs Solutions, Inc. | 966 | 144765 |
|  Leidos Holdings, Inc. | 1037 | 195951 |
|  Paychex, Inc. | 2620 | 332111 |
|  Paycom Software, Inc. | 405 | 84297 |
|  Randstad NV | 1183 | 50237 |
|  Recruit Holdings Co. Ltd. | 14545 | 783188 |
|  RELX plc | 20014 | 957432 |
|  SGS SA (Registered) | 1805 | 187019 |
|  Teleperformance SE | 587 | 43652 |
|  Verisk Analytics, Inc. | 1129 | 283955 |
|  Wolters Kluwer NV | 2600 | 354551 |
|  |  | 5803477 |
|  ***Trading Companies & Distributors (0.5%)*** |  |  |
|  AddTech AB, Class B | 2833 | 91841 |
|  AerCap Holdings NV | 1923 | 232683 |
|  Ashtead Group plc | 4652 | 310634 |
|  Beijer Ref AB, Class B | 4195 | 65346 |
|  Brenntag SE | 1338 | 79958 |
|  Bunzl plc | 3571 | 112670 |
|  Fastenal Co. | 9273 | 454748 |
|  IMCD NV | 644 | 66536 |
|  ITOCHU Corp. | 12968 | 738874 |
|  Marubeni Corp. | 15344 | 383691 |
|  Mitsubishi Corp. | 35038 | 836591 |
|  Mitsui & Co. Ltd. | 26898 | 669335 |
|  MonotaRO Co. Ltd. | 2771 | 40398 |
|  Rexel SA | 2444 | 79884 |
|  SGH Ltd. | 2218 | 73280 |
|  Sumitomo Corp. | 11916 | 345510 |
|  Toyota Tsusho Corp. | 7492 | 207811 |
|  United Rentals, Inc. | 520 | 496423 |
|  W.W. Grainger, Inc. | 356 | 339254 |
|  |  | 5625467 |
|  ***Transportation Infrastructure (0.1%)*** |  |  |
|  Aena SME SA(m) | 8176 | 223369 |
|  Aeroports de Paris SA(x) | 377 | 49706 |
|  Auckland International Airport Ltd. | 18398 | 84050 |
|  Getlink SE | 3297 | 60617 |
|  Transurban Group | 33887 | 309438 |
|  |  | 727180 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 79384294 |
|  **Information Technology (17.5%)** |  |  |
|  ***Communications Equipment (0.5%)*** |  |  |
|  Arista Networks, Inc.\* | 8327 | 1213327 |
|  Cisco Systems, Inc. | 31996 | 2189166 |
|  F5, Inc.\* | 464 | 149960 |
|  Motorola Solutions, Inc. | 1346 | 615513 |
|  Nokia OYJ | 56502 | 270585 |
|  Telefonaktiebolaget LM Ericsson, Class B | 30508 | 252246 |
|  |  | 4690797 |
|  ***Electronic Equipment, Instruments & Components (0.5%)*** |  |  |
|  Amphenol Corp., Class A | 9865 | 1220794 |
|  CDW Corp. | 1059 | 168677 |
|  Corning, Inc. | 6298 | 516625 |
|  Halma plc | 4138 | 191999 |
|  Hexagon AB, Class B | 22633 | 269017 |
|  Jabil, Inc. | 867 | 188286 |
|  Keyence Corp. | 2073 | 773494 |
|  Keysight Technologies, Inc.\* | 1391 | 243314 |
|  Kyocera Corp. | 13983 | 188114 |
|  Murata Manufacturing Co. Ltd. | 18182 | 346157 |
|  Shimadzu Corp. | 2624 | 66272 |
|  TDK Corp. | 21216 | 308230 |
|  TE Connectivity plc | 2387 | 524018 |
|  Teledyne Technologies, Inc.\* | 379 | 222109 |
|  Trimble, Inc.\* | 1923 | 157013 |
|  Yokogawa Electric Corp. | 2533 | 72880 |
|  Zebra Technologies Corp., Class A\* | 411 | 122133 |
|  |  | 5579132 |
|  ***IT Services (0.6%)*** |  |  |
|  Accenture plc, Class A | 5033 | 1241138 |
|  Akamai Technologies, Inc.\* | 1159 | 87806 |
|  Capgemini SE | 1775 | 257471 |
|  Cognizant Technology Solutions Corp., Class A | 3946 | 264658 |
|  EPAM Systems, Inc.\* | 450 | 67855 |
|  Fujitsu Ltd. | 19162 | 451435 |
|  Gartner, Inc.\* | 612 | 160876 |
|  GoDaddy, Inc., Class A\* | 1119 | 153113 |
|  International Business Machines Corp. | 7526 | 2123536 |
|  NEC Corp. | 14085 | 451356 |
|  Nomura Research Institute Ltd. | 4126 | 158277 |
|  Obic Co. Ltd. | 3549 | 123688 |
|  Otsuka Corp. | 2529 | 52808 |
|  SCSK Corp. | 1667 | 49925 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  TIS, Inc. | 2365 | $78106 |
|  VeriSign, Inc. | 679 | 189828 |
|  Wix.com Ltd.\* | 607 | 107821 |
|  |  | 6019697 |
|  ***Semiconductors & Semiconductor Equipment (7.0%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 13112 | 2121391 |
|  Advantest Corp.(x) | 8365 | 828666 |
|  Analog Devices, Inc. | 4010 | 985257 |
|  Applied Materials, Inc. | 6484 | 1327534 |
|  ASM International NV | 511 | 306449 |
|  ASML Holding NV | 4295 | 4175731 |
|  BE Semiconductor Industries NV | 796 | 118547 |
|  Broadcom, Inc. | 37938 | 12516126 |
|  Disco Corp. | 981 | 308526 |
|  First Solar, Inc.\* | 867 | 191200 |
|  Infineon Technologies AG | 14237 | 554936 |
|  Intel Corp.\* | 35365 | 1186496 |
|  KLA Corp. | 1066 | 1149788 |
|  Lam Research Corp. | 10226 | 1369261 |
|  Lasertec Corp. | 854 | 117256 |
|  Microchip Technology, Inc. | 4360 | 279999 |
|  Micron Technology, Inc. | 9042 | 1512907 |
|  Monolithic Power Systems, Inc. | 387 | 356288 |
|  Nova Ltd.\* | 319 | 101078 |
|  NVIDIA Corp. | 197146 | 36783501 |
|  NXP Semiconductors NV | 2037 | 463886 |
|  ON Semiconductor Corp.\* | 3304 | 162920 |
|  QUALCOMM, Inc. | 8714 | 1449661 |
|  Renesas Electronics Corp. | 18342 | 211593 |
|  SCREEN Holdings Co. Ltd.(x) | 866 | 78820 |
|  Skyworks Solutions, Inc. | 1199 | 92299 |
|  STMicroelectronics NV | 7451 | 208636 |
|  Teradyne, Inc. | 1285 | 176867 |
|  Texas Instruments, Inc. | 7346 | 1349681 |
|  Tokyo Electron Ltd. | 4875 | 868952 |
|  |  | 71354252 |
|  ***Software (5.6%)*** |  |  |
|  Adobe, Inc.\* | 3427 | 1208874 |
|  AppLovin Corp., Class A\* | 2187 | 1571447 |
|  Autodesk, Inc.\* | 1729 | 549251 |
|  Cadence Design Systems, Inc.\* | 2202 | 773474 |
|  Check Point Software Technologies Ltd.\* | 945 | 195530 |
|  Crowdstrike Holdings, Inc., Class A\* | 2014 | 987625 |
|  CyberArk Software Ltd.\* | 521 | 251721 |
|  Dassault Systemes SE | 7328 | 245284 |
|  Datadog, Inc., Class A\* | 2612 | 371949 |
|  Fair Isaac Corp.\* | 194 | 290327 |
|  Fortinet, Inc.\* | 5263 | 442513 |
|  Gen Digital, Inc. | 4528 | 128550 |
|  Intuit, Inc. | 2254 | 1539279 |
|  Microsoft Corp. | 60058 | 31107041 |
|  Monday.com Ltd.\* | 443 | 85805 |
|  Nemetschek SE | 629 | 81823 |
|  Nice Ltd.\* | 689 | 101513 |
|  Oracle Corp. | 410 | 41864 |
|  Oracle Corp. (Moscow Stock Exchange) | 13390 | 3765804 |
|  Palantir Technologies, Inc., Class A\* | 18375 | 3351967 |
|  Palo Alto Networks, Inc.\* | 5397 | 1098937 |
|  PTC, Inc.\* | 968 | 196523 |
|  Roper Technologies, Inc. | 869 | 433362 |
|  Sage Group plc (The) | 10549 | 156061 |
|  Salesforce, Inc. | 7724 | 1830588 |
|  SAP SE | 11388 | 3047042 |
|  ServiceNow, Inc.\* | 1681 | 1546991 |
|  Synopsys, Inc.\* | 1495 | 737618 |
|  Trend Micro, Inc. | 1351 | 73997 |
|  Tyler Technologies, Inc.\* | 350 | 183106 |
|  WiseTech Global Ltd. | 2188 | 130664 |
|  Workday, Inc., Class A\* | 1745 | 420074 |
|  Xero Ltd.\* | 1794 | 186967 |
|  |  | 57133571 |
|  ***Technology Hardware, Storage & Peripherals (3.3%)*** |  |  |
|  Apple, Inc. | 119907 | 30531919 |
|  Canon, Inc.(x) | 9450 | 277139 |
|  Dell Technologies, Inc., Class C | 2450 | 347337 |
|  FUJIFILM Holdings Corp. | 12231 | 304441 |
|  Hewlett Packard Enterprise Co. | 10602 | 260385 |
|  HP, Inc. | 7589 | 206649 |
|  Logitech International SA |  |  |
| (Registered) | 1658 | 180744 |
|  NetApp, Inc. | 1617 | 191550 |
|  Seagate Technology Holdings plc | 1718 | 405551 |
|  Super Micro Computer, Inc.\* | 4051 | 194205 |
|  Western Digital Corp. | 2803 | 336528 |
|  |  | 33236448 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 178013897 |
|  **Materials (2.0%)** |  |  |
|  ***Chemicals (1.0%)*** |  |  |
|  Air Liquide SA | 6309 | 1310016 |
|  Air Products and Chemicals, Inc. | 1798 | 490351 |
|  Akzo Nobel NV | 1861 | 132405 |
|  Albemarle Corp.(x) | 951 | 77107 |
|  Arkema SA | 622 | 39142 |
|  Asahi Kasei Corp. | 13370 | 105280 |
|  BASF SE | 9731 | 484292 |
|  CF Industries Holdings, Inc. | 1309 | 117417 |
|  Corteva, Inc. | 5487 | 371086 |
|  Covestro AG\* | 1957 | 133951 |
|  Dow, Inc. | 5727 | 131320 |
|  DSM-Firmenich AG | 2027 | 172583 |
|  DuPont de Nemours, Inc. | 3383 | 263536 |
|  Eastman Chemical Co. | 928 | 58510 |
|  Ecolab, Inc. | 2062 | 564699 |
|  EMS-Chemie Holding AG (Registered) | 76 | 53703 |
|  Evonik Industries AG | 2793 | 48433 |
|  Givaudan SA (Registered) | 101 | 410065 |
|  ICL Group Ltd. | 8440 | 52747 |
|  International Flavors & Fragrances, Inc. | 2071 | 127449 |
|  Linde plc | 3789 | 1799775 |
|  LyondellBasell Industries NV, Class A | 2079 | 101954 |
|  Mitsubishi Chemical Group Corp. | 13948 | 80292 |
|  Mosaic Co. (The) | 2564 | 88919 |
|  Nippon Paint Holdings Co. Ltd.(x) | 10305 | 70379 |
|  Nippon Sanso Holdings Corp.(x) | 1846 | 65497 |
|  Nitto Denko Corp.(x) | 7732 | 183882 |
|  Novonesis Novozymes B | 3863 | 236408 |
|  PPG Industries, Inc. | 1824 | 191721 |
|  Sherwin-Williams Co. (The) | 1874 | 648891 |
|  Shin-Etsu Chemical Co. Ltd. | 18439 | 605095 |
|  Sika AG (Registered) | 1662 | 369751 |
|  Syensqo SA | 793 | 63961 |
|  Symrise AG, Class A | 1447 | 125783 |
|  Toray Industries, Inc. | 15079 | 96387 |
|  Yara International ASA | 1804 | 65909 |
|  |  | 9938696 |
|  ***Construction Materials (0.2%)*** |  |  |
|  Amrize Ltd.\* | 5562 | 268231 |
|  Heidelberg Materials AG | 1459 | 328114 |
|  Holcim AG | 5562 | 470505 |
|  James Hardie Industries plc (CHDI)\* | 6307 | 117187 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Martin Marietta Materials, Inc. | 487 | $306946 |
|  Vulcan Materials Co. | 1068 | 328538 |
|  |  | 1819521 |
|  ***Containers & Packaging (0.1%)*** |  |  |
|  Amcor plc | 18627 | 152369 |
|  Avery Dennison Corp. | 630 | 102167 |
|  Ball Corp. | 2199 | 110874 |
|  International Paper Co. | 4266 | 197942 |
|  Packaging Corp. of America | 722 | 157345 |
|  SIG Group AG | 3333 | 34354 |
|  Smurfit WestRock plc | 4219 | 179603 |
|  |  | 934654 |
|  ***Metals & Mining (0.7%)*** |  |  |
|  Anglo American plc | 12201 | 456994 |
|  Antofagasta plc | 4298 | 159018 |
|  ArcelorMittal SA | 5113 | 183569 |
|  BHP Group Ltd. | 55356 | 1557834 |
|  BlueScope Steel Ltd. | 4780 | 71767 |
|  Boliden AB\* | 3098 | 125935 |
|  Evolution Mining Ltd. | 21824 | 156395 |
|  Fortescue Ltd. | 18460 | 228176 |
|  Freeport-McMoRan, Inc. | 11601 | 454991 |
|  Fresnillo plc | 2409 | 76461 |
|  Glencore plc | 110517 | 507735 |
|  JFE Holdings, Inc. | 6233 | 76561 |
|  Newmont Corp. | 8875 | 748251 |
|  Nippon Steel Corp.(x) | 52540 | 216541 |
|  Norsk Hydro ASA | 15094 | 102245 |
|  Northern Star Resources Ltd. | 14793 | 232282 |
|  Nucor Corp. | 1855 | 251223 |
|  Rio Tinto Ltd. | 4047 | 326784 |
|  Rio Tinto plc | 12306 | 808898 |
|  South32 Ltd. | 49084 | 88992 |
|  Steel Dynamics, Inc. | 1118 | 155883 |
|  Sumitomo Metal Mining Co. Ltd.(x) | 2734 | 88129 |
|  |  | 7074664 |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Holmen AB, Class B | 831 | 31547 |
|  Mondi plc | 4811 | 66256 |
|  Stora Enso OYJ, Class R | 6348 | 69580 |
|  Svenska Cellulosa AB SCA, Class B | 6621 | 87453 |
|  UPM-Kymmene OYJ | 5752 | 157146 |
|  |  | 411982 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 20179517 |
|  **Real Estate (1.3%)** |  |  |
|  ***Diversified REITs (0.0%)†*** |  |  |
|  CapitaLand Integrated Commercial Trust (REIT) | 63504 | 112736 |
|  Covivio SA (REIT) | 608 | 40831 |
|  Land Securities Group plc (REIT) | 7713 | 60372 |
|  Stockland (REIT) | 26156 | 105922 |
|  |  | 319861 |
|  ***Health Care REITs (0.1%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) | 1258 | 104842 |
|  Healthpeak Properties, Inc. (REIT) | 5646 | 108121 |
|  Ventas, Inc. (REIT) | 3672 | 257003 |
|  Welltower, Inc. (REIT) | 5404 | 962668 |
|  |  | 1432634 |
|  ***Hotel & Resort REITs (0.0%)†*** |  |  |
|  Host Hotels & Resorts, Inc. (REIT) | 5166 | 87925 |
|  ***Industrial REITs (0.2%)*** |  |  |
|  CapitaLand Ascendas REIT (REIT) | 42862 | 92705 |
|  Goodman Group (REIT) | 22144 | 480315 |
|  Prologis, Inc. (REIT) | 7499 | 858786 |
|  Segro plc (REIT) | 14015 | 123535 |
|  |  | 1555341 |
|  ***Office REITs (0.0%)†*** |  |  |
|  BXP, Inc. (REIT) | 1190 | 88465 |
|  Gecina SA (REIT) | 502 | 50273 |
|  Nippon Building Fund, Inc. (REIT) | 85 | 80181 |
|  |  | 218919 |
|  ***Real Estate Management & Development (0.3%)*** |  |  |
|  Azrieli Group Ltd. | 463 | 45948 |
|  CapitaLand Investment Ltd. | 25042 | 52221 |
|  CBRE Group, Inc., Class A\* | 2368 | 373102 |
|  CK Asset Holdings Ltd. | 21014 | 101857 |
|  CoStar Group, Inc.\* | 3423 | 288799 |
|  Daito Trust Construction Co. Ltd.(x) | 3120 | 68461 |
|  Daiwa House Industry Co. Ltd. | 6074 | 218506 |
|  Fastighets AB Balder, Class B\* | 7825 | 55971 |
|  Henderson Land Development Co. Ltd. | 15479 | 54581 |
|  Hongkong Land Holdings Ltd. | 11858 | 75061 |
|  Hulic Co. Ltd. | 5010 | 54882 |
|  LEG Immobilien SE | 824 | 65494 |
|  Mitsubishi Estate Co. Ltd. | 11631 | 267642 |
|  Mitsui Fudosan Co. Ltd. | 28768 | 313776 |
|  Sagax AB, Class B | 2395 | 49938 |
|  Sino Land Co. Ltd. | 39234 | 49660 |
|  Sumitomo Realty & Development Co. Ltd. | 3398 | 150088 |
|  Sun Hung Kai Properties Ltd. | 15941 | 190916 |
|  Swiss Prime Site AG (Registered) | 875 | 122339 |
|  Vonovia SE | 8199 | 255571 |
|  Wharf Holdings Ltd. (The) | 11399 | 32607 |
|  Wharf Real Estate Investment Co. Ltd. | 17797 | 52600 |
|  |  | 2940020 |
|  ***Residential REITs (0.1%)*** |  |  |
|  AvalonBay Communities, Inc. (REIT) | 1149 | 221952 |
|  Camden Property Trust (REIT) | 863 | 92151 |
|  Equity Residential (REIT) | 2808 | 181762 |
|  Essex Property Trust, Inc. (REIT) | 520 | 139183 |
|  Invitation Homes, Inc. (REIT) | 4557 | 133657 |
|  Mid-America Apartment Communities, Inc. (REIT) | 946 | 132185 |
|  UDR, Inc. (REIT) | 2436 | 90765 |
|  |  | 991655 |
|  ***Retail REITs (0.2%)*** |  |  |
|  Federal Realty Investment Trust (REIT) | 634 | 64231 |
|  Kimco Realty Corp. (REIT) | 5472 | 119563 |
|  Klepierre SA (REIT) | 2345 | 91294 |
|  Link REIT (REIT) | 28306 | 145496 |
|  Realty Income Corp. (REIT) | 7387 | 449056 |
|  Regency Centers Corp. (REIT) | 1320 | 96228 |
|  Scentre Group (REIT) | 56768 | 153259 |
|  Simon Property Group, Inc. (REIT) | 2638 | 495073 |
|  Unibail-Rodamco-Westfield (REIT) | 1327 | 139344 |
|  Vicinity Ltd. (REIT) | 43274 | 72159 |
|  |  | 1825703 |
|  ***Specialized REITs (0.4%)*** |  |  |
|  American Tower Corp. (REIT) | 3783 | 727546 |
|  Crown Castle, Inc. (REIT) | 3518 | 339452 |
|  Digital Realty Trust, Inc. (REIT) | 2590 | 447759 |
|  Equinix, Inc. (REIT) | 791 | 619543 |
|  Extra Space Storage, Inc. (REIT) | 1715 | 241712 |
|  Iron Mountain, Inc. (REIT) | 2386 | 243229 |
|  Public Storage (REIT) | 1276 | 368572 |
|  SBA Communications Corp. (REIT) | 868 | 167828 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  VICI Properties, Inc. (REIT), Class A | 8616 | $280968 |
|  Weyerhaeuser Co. (REIT) | 5830 | 144526 |
|  |  | 3581135 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 12953193 |
|  **Utilities (1.8%)** |  |  |
|  ***Electric Utilities (1.1%)*** |  |  |
|  Acciona SA | 269 | 53974 |
|  Alliant Energy Corp. | 2076 | 139943 |
|  American Electric Power Co., Inc. | 4321 | 486112 |
|  BKW AG | 230 | 49089 |
|  Chubu Electric Power Co., Inc. | 7466 | 103924 |
|  CK Infrastructure Holdings Ltd. | 6713 | 44081 |
|  CLP Holdings Ltd. | 18001 | 149084 |
|  Constellation Energy Corp. | 2524 | 830573 |
|  Contact Energy Ltd. | 9363 | 49397 |
|  Duke Energy Corp. | 6283 | 777521 |
|  Edison International | 3109 | 171865 |
|  EDP SA | 34201 | 162100 |
|  Elia Group SA/NV, Class B | 475 | 54736 |
|  Endesa SA | 3462 | 110597 |
|  Enel SpA | 88705 | 840026 |
|  Entergy Corp. | 3607 | 336136 |
|  Evergy, Inc. | 1860 | 141397 |
|  Eversource Energy | 2963 | 210788 |
|  Exelon Corp. | 8160 | 367282 |
|  FirstEnergy Corp. | 4199 | 192398 |
|  Fortum OYJ | 4890 | 92460 |
|  Iberdrola SA | 69221 | 1308836 |
|  Kansai Electric Power Co., Inc. (The) | 10300 | 147551 |
|  NextEra Energy, Inc. | 16639 | 1256078 |
|  NRG Energy, Inc. | 1563 | 253128 |
|  Origin Energy Ltd. | 18776 | 155301 |
|  PG&E Corp. | 17758 | 267791 |
|  Pinnacle West Capital Corp. | 965 | 86522 |
|  Power Assets Holdings Ltd. | 15263 | 96654 |
|  PPL Corp. | 5975 | 222031 |
|  Redeia Corp. SA | 4423 | 85370 |
|  Southern Co. (The) | 8888 | 842316 |
|  SSE plc | 12063 | 282533 |
|  Terna - Rete Elettrica Nazionale | 15335 | 155519 |
|  Verbund AG | 742 | 53924 |
|  Xcel Energy, Inc. | 4779 | 385426 |
|  |  | 10962463 |
|  ***Gas Utilities (0.1%)*** |  |  |
|  APA Group | 14217 | 83538 |
|  Atmos Energy Corp. | 1297 | 221463 |
|  Hong Kong & China Gas Co. Ltd. | 122321 | 106257 |
|  Osaka Gas Co. Ltd. | 3876 | 112413 |
|  Snam SpA | 21978 | 132061 |
|  Tokyo Gas Co. Ltd. | 3430 | 122092 |
|  |  | 777824 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  AES Corp. (The) | 5753 | 75709 |
|  EDP Renovaveis SA | 3436 | 45181 |
|  Meridian Energy Ltd. | 14252 | 46023 |
|  Orsted A/S(m)(x)\* | 1833 | 32736 |
|  RWE AG | 6893 | 306067 |
|  Vistra Corp. | 2576 | 504690 |
|  |  | 1010406 |
|  ***Multi-Utilities (0.5%)*** |  |  |
|  Ameren Corp. | 2185 | 228070 |
|  CenterPoint Energy, Inc. | 5275 | 204670 |
|  Centrica plc | 52927 | 118588 |
|  CMS Energy Corp. | 2419 | 177216 |
|  Consolidated Edison, Inc. | 2914 | 292915 |
|  Dominion Energy, Inc. | 6896 | 421828 |
|  DTE Energy Co. | 1677 | 237178 |
|  E.ON SE | 24476 | 460208 |
|  Engie SA | 19912 | 426760 |
|  National Grid plc | 53449 | 767357 |
|  NiSource, Inc. | 3804 | 164713 |
|  Public Service Enterprise Group, Inc. | 4032 | 336511 |
|  Sembcorp Industries Ltd. | 9525 | 44452 |
|  Sempra | 5272 | 474375 |
|  Veolia Environnement SA | 6864 | 233540 |
|  WEC Energy Group, Inc. | 2601 | 298049 |
|  |  | 4886430 |
|  ***Water Utilities (0.0%)†*** |  |  |
|  American Water Works Co., Inc. | 1576 | 219363 |
|  Severn Trent plc | 2950 | 102678 |
|  United Utilities Group plc | 7432 | 114596 |
|  |  | 436637 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 18073760 |
|  **Total Common Stocks (66.2%)**<br>*(Cost $301,486,180)* |  | 673674702 |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (3.9%)** |  |  |
|  SPDR S&P MidCap 400 ETF Trust(x) | 66277 | 39503080 |
|  **Total Exchange Traded Funds (3.9%)**<br>(*Cost $22,636,318)* |  | 39503080 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **U.S. Government Agency Securities (1.8%)** |  |  |
|  FHLB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/16/28 | $745000 | 736279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 12/8/28 | 1290000 | 1330513 |
|  FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 3/15/31 | 1000000 | 1141703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7/15/32 | 2282000 | 2590084 |
|  FNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 9/24/26 | 1297000 | 1274363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 10/8/27 | 5000000 | 4721160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 5/15/30 | 1600000 | 1838110 |
|  Tennessee Valley Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3/15/28 | 5000000 | 5036150 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Government Agency Securities** |  | 18668362 |
|  **U.S. Treasury Obligations (25.8%)** |  |  |
|  U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 11/15/27 | 4431200 | 4655524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 11/15/28 | 7983800 | 8357560 |
|  U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 9/30/26 | 4785700 | 4653246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/15/26 | 8811400 | 8645417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 12/31/26 | 4064300 | 3943802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 1/31/27 | 3846200 | 3737871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 2/15/27 | 4750400 | 4660258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/28/27 | 2319900 | 2262803 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/27 | 10030500 | 9830032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/30/27 | 7648500 | 7599134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/15/27 | 5434100 | 5300152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/27 | 2266200 | 2289385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 11/15/27# | 12465600 | 12120931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/31/27 | 4047600 | 4070526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/29/28 | 4072800 | 4109531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/30/28 | 4241900 | 4230622 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5/31/28 | $2970400 | $2971364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/30/28 | 6503900 | 6568935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/31/28 | 8076800 | 8243194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/28 | 2842100 | 2922639 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 11/15/28 | 588400 | 579551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/28 | 2428400 | 2481517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/28 | 4964900 | 4981990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/31/29 | 4838800 | 4891722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 2/15/29 | 1585100 | 1534221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/28/29 | 1811900 | 1846856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/31/29 | 5376600 | 5459307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/30/29 | 4178200 | 4311720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/29 | 4216300 | 4033634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/31/29 | 4628800 | 4759429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 6/30/29 | 3041400 | 3102543 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 8/15/29 | 6028100 | 5593194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/30/29 | 3657000 | 3632380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 11/15/29 | 5128200 | 4757600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 2/15/30 | 4655300 | 4246139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 5/15/30 | 5588700 | 4859443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 8/15/30 | 3253500 | 2805476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 8/31/30 | 3113800 | 3167073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/30 | 4795800 | 4986164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/30 | 1754400 | 1844727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 11/15/30 | 4056200 | 3518178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/30 | 5245800 | 5395809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/30 | 3412000 | 3409338 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 5/15/31 | 3247100 | 2892020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 8/15/31 | 15571900 | 13471990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 11/15/31 | 2185600 | 1891869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/15/32 | 2338400 | 2074720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/32 | 4249400 | 3994876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 8/15/32 | 2982400 | 2772928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/32 | 3018500 | 3053642 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/15/33 | 3262300 | 3167491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 5/15/33 | 4686500 | 4502030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/33 | 4592500 | 4555572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/33 | 3472000 | 3589446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/15/34 | 3123500 | 3115130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/15/34 | 3554200 | 3636426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/34 | 2389500 | 2353161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/15/34 | 1477900 | 1494674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/15/35 | 6570100 | 6828155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/35 | 1984500 | 2002755 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 262767822 |
|  **Total Long-Term Debt Securities (27.6%)**<br> *(Cost $284,240,151)* |  | 281436184 |
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Financials (0.0%)†** |  |  |
|  ***Financial Services (0.0%)†*** |  |  |
|  Sofina SA, expiring 10/2/25(x)\* | 168 | 375 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 375 |
|  **Utilities (0.0%)†** |  |  |
|  ***Independent Power and Renewable Electricity Producers (0.0%)†*** |  |  |
|  Orsted A/S, expiring 10/2/25\* | 27495 | 27374 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 27374 |
|  **Total Rights (0.0%)†**<br>*(Cost $54,562)* |  | 27749 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (2.0%)** |  |  |
|  Allspring Government Money Market Fund, Select Shares 4.07% (7 day yield) (xx) | 1000000 | 1000000 |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 4000000 | 4000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 8904611 | 8904611 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 3588928 | 3590364 |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 3000000 | 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 20494975 |
|  **Total Short-Term Investments (2.0%)**<br>*(Cost $20,495,213)* |  | 20494975 |
|  **Total Investments in Securities (99.7%)**<br> *(Cost $628,912,424)* |  | 1015136690 |
|  **Other Assets Less Liabilities (0.3%)** |  | 3124983 |
|  **Net Assets (100%)** |  | $1018261673 |

---

*\** *Non-income producing.* 

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

*#* *All, or a portion of security held by broker as collateral for financial futures contracts, with a total collateral value of $10,233,988.* 

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $2,438,471 or 0.2% of net assets.* 

*(q)* *Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $22,075,928. This was collateralized by $5,833,732 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.000%, maturing 10/9/25 – 5/15/55 and by cash of $16,904,611 which was subsequently invested in investment companies.* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*Glossary:* 

*ADR — American Depositary Receipt* 

*AUD — Australian Dollar* 

*CHDI — Clearing House Electronic Subregister System (CHESS) Depository Interest* 

*CHF — Swiss Franc* 

*CVA — Dutch Certification* 

*EUR — European Currency Unit* 

*FHLB — Federal Home Loan Bank* 

*FHLMC — Federal Home Loan Mortgage Corp.* 

*FNMA — Federal National Mortgage Association* 

*GBP — British Pound* 

*JPY — Japanese Yen* 

*NOK — Norwegian Krone* 

*NZD — New Zealand Dollar* 

*REIT — Real Estate Investment Trust* 

*SEK — Swedish Krona* 

*USD — United States Dollar* 

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  EURO STOXX 50 Index | 197 | 12/2025 | EUR | 12815660 | 125207 |
|  FTSE 100 Index | 85 | 12/2025 | GBP | 10754325 | 82069 |
|  MSCI EAFE E-Mini Index | 4 | 12/2025 | USD | 557060 | (508) |
|  Russell 2000 E-Mini Index | 335 | 12/2025 | USD | 41129625 | 235245 |
|  S&P 500 E-Mini Index | 9 | 12/2025 | USD | 3032437 | 12403 |
|  SPI 200 Index | 11 | 12/2025 | AUD | 1614598 | (5734) |
|  TOPIX Index | 22 | 12/2025 | JPY | 4672685 | (14637) |
|  |  |  |  |  | 434045 |
|  **Short Contracts** |  |  |  |  |  |
|  U.S. Treasury 2 Year Note | (84) | 12/2025 | USD | (17505469) | 2488 |
|  U.S. Treasury 5 Year Note | (64) | 12/2025 | USD | (6988500) | (14398) |
|  U.S. Treasury 10 Year Note | (129) | 12/2025 | USD | (14512500) | (65226) |
|  |  |  |  |  | (77136) |
|  |  |  |  |  | 356909 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  USD | 3419615 | JPY | 501373649 | JPMorgan Chase Bank | 10/30/2025 | 18336 |
|  USD | 575797 | NZD | 970162 | JPMorgan Chase Bank | 11/7/2025 | 12526 |
|  SEK | 64057115 | USD | 6825297 | Barclays Bank plc | 11/20/2025 | 510 |
|  SEK | 54081537 | USD | 5742741 | HSBC Bank plc | 11/20/2025 | 20087 |
|  USD | 12078752 | CHF | 9504637 | UBS AG | 11/21/2025 | 66397 |
|  USD | 25261982 | GBP | 18496675 | Goldman Sachs Bank USA | 12/5/2025 | 382228 |
|  **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** |  |  |  | 500084 |
|  JPY | 1851921473 | USD | 12582856 | JPMorgan Chase Bank | 10/30/2025 | (19569) |
|  JPY | 733742794 | USD | 5011288 | Morgan Stanley | 10/30/2025 | (33636) |
|  USD | 5756306 | JPY | 851165420 | HSBC Bank plc | 10/30/2025 | (17932) |
|  USD | 1067813 | AUD | 1617245 | HSBC Bank plc | 11/7/2025 | (2879) |
|  USD | 879408 | AUD | 1355467 | JPMorgan Chase Bank | 11/7/2025 | (17975) |
|  USD | 298363 | NOK | 2996043 | JPMorgan Chase Bank | 11/20/2025 | (1923) |
|  CHF | 8464330 | USD | 10771074 | JPMorgan Chase Bank | 11/21/2025 | (73502) |
|  EUR | 1487585 | USD | 1757954 | HSBC Bank plc | 11/21/2025 | (6195) |
|  EUR | 14093550 | USD | 16628275 | Morgan Stanley | 11/21/2025 | (31922) |
|  **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | (205533) |
|  **Net unrealized appreciation** | **Net unrealized appreciation** | **Net unrealized appreciation** | **Net unrealized appreciation** | **Net unrealized appreciation** | **Net unrealized appreciation** | 294551 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $47860304 | $9320664 | $— | $57180968 |
|  Consumer Discretionary | 49302911 | 21008493 |  | 70311404 |
|  Consumer Staples | 22850323 | 15781913 |  | 38632236 |
|  Energy | 13311491 | 6762013 |  | 20073504 |
|  Financials | 62537824 | 52505939 |  | 115043763 |
|  Health Care | 41093388 | 22734778 | — (a) | 63828166 |
|  Industrials | 38683709 | 40700585 |  | 79384294 |
|  Information Technology | 160945108 | 17068789 |  | 178013897 |
|  Materials | 8178867 | 12000650 |  | 20179517 |
|  Real Estate | 8926652 | 4026541 |  | 12953193 |
|  Utilities | 10824057 | 7249703 |  | 18073760 |
|  **Exchange Traded Funds** | 39503080 |  |  | 39503080 |
|  **Forward Currency Contracts** |  | 500084 |  | 500084 |
|  **Futures** | 457412 |  |  | 457412 |
|  **Rights** |  |  |  |  |
|  Financials |  | 375 |  | 375 |
|  Utilities |  | 27374 |  | 27374 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 20494975 |  |  | 20494975 |
|  **U.S. Government Agency Securities** |  | 18668362 |  | 18668362 |
|  **U.S. Treasury Obligations** |  | 262767822 |  | 262767822 |
|  **Total Assets** | $**524970101** | $**491124085** | $**—** | $**1016094186** |
|  **Liabilities:** |  |  |  |  |
|  **Forward Currency Contracts** | $— | $(205533) | $— | $(205533) |
|  **Futures** | (100503) |  |  | (100503) |
|  **Total Liabilities** | $**(100503)** | $**(205533)** | $**—** | $**(306036)** |
|  **Total** | $**524869598** | $**490918552** | $**—** | $**1015788150** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $411317219 |
|  Aggregate gross unrealized depreciation | (24441493) |
|  Net unrealized appreciation | $386875726 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $628912424 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC MODERATE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (4.7%)** |  |  |
|  ***Diversified Telecommunication Services (0.6%)*** |  |  |
|  AT&T, Inc. | 74329 | $2099051 |
|  BT Group plc | 87716 | 225498 |
|  Cellnex Telecom SA(m) | 7254 | 251153 |
|  Deutsche Telekom AG (Registered) | 51189 | 1743456 |
|  Elisa OYJ | 2087 | 109428 |
|  HKT Trust & HKT Ltd. | 55377 | 81977 |
|  Infrastrutture Wireless Italiane SpA(m) | 4101 | 48196 |
|  Koninklijke KPN NV | 57043 | 273712 |
|  NTT, Inc. | 438346 | 458546 |
|  Orange SA | 27314 | 442859 |
|  Singapore Telecommunications Ltd. | 109029 | 349075 |
|  Swisscom AG (Registered) | 380 | 275674 |
|  Telecom Italia SpA\* | 156098 | 81609 |
|  Telefonica SA(x) | 54059 | 279132 |
|  Telenor ASA | 9034 | 149729 |
|  Telia Co. AB | 34613 | 131953 |
|  Telstra Group Ltd. | 57364 | 182956 |
|  Verizon Communications, Inc. | 43829 | 1926285 |
|  |  | 9110289 |
|  ***Entertainment (0.8%)*** |  |  |
|  Bollore SE | 10314 | 58318 |
|  Capcom Co. Ltd. | 5071 | 137949 |
|  CTS Eventim AG & Co. KGaA | 915 | 89593 |
|  Electronic Arts, Inc. | 2341 | 472180 |
|  Konami Group Corp. | 1441 | 208036 |
|  Live Nation Entertainment, Inc.\* | 1640 | 267976 |
|  Netflix, Inc.\* | 4417 | 5295630 |
|  Nexon Co. Ltd. | 4834 | 106136 |
|  Nintendo Co. Ltd. | 16238 | 1406009 |
|  Spotify Technology SA\* | 2242 | 1564916 |
|  Take-Two Interactive Software, Inc.\* | 1803 | 465823 |
|  TKO Group Holdings, Inc., Class A | 717 | 144805 |
|  Toho Co. Ltd.(x) | 1505 | 96680 |
|  Universal Music Group NV | 16143 | 465478 |
|  Walt Disney Co. (The) | 18690 | 2140005 |
|  Warner Bros Discovery, Inc.\* | 25736 | 502624 |
|  |  | 13422158 |
|  ***Interactive Media & Services (2.8%)*** |  |  |
|  Alphabet, Inc., Class A | 60468 | 14699771 |
|  Alphabet, Inc., Class C | 48543 | 11822648 |
|  Auto Trader Group plc(m) | 12799 | 135676 |
|  CAR Group Ltd. | 5544 | 134926 |
|  LY Corp. | 40744 | 131171 |
|  Match Group, Inc. | 2501 | 88335 |
|  Meta Platforms, Inc., Class A | 22531 | 16546316 |
|  REA Group Ltd. | 775 | 118491 |
|  Scout24 SE(m) | 1100 | 137669 |
|  |  | 43815003 |
|  ***Media (0.2%)*** |  |  |
|  Charter Communications, Inc., Class A(x)\* | 966 | 265752 |
|  Comcast Corp., Class A | 38283 | 1202852 |
|  Fox Corp., Class A | 2183 | 137660 |
|  Fox Corp., Class B | 1371 | 78545 |
|  Informa plc | 19147 | 236289 |
|  Interpublic Group of Cos., Inc. (The) | 3807 | 106253 |
|  News Corp., Class A | 3913 | 120168 |
|  News Corp., Class B | 1156 | 39940 |
|  Omnicom Group, Inc. | 2014 | 164202 |
|  Paramount Skydance Corp., Class B(x) | 3209 | 60714 |
|  Publicis Groupe SA | 3357 | 321924 |
|  Trade Desk, Inc. (The), Class A\* | 4633 | 227063 |
|  WPP plc | 15827 | 78289 |
|  |  | 3039651 |
|  ***Wireless Telecommunication Services (0.3%)*** |  |  |
|  KDDI Corp. | 46128 | 736283 |
|  SoftBank Corp. | 420798 | 619452 |
|  SoftBank Group Corp. | 14009 | 1770012 |
|  Tele2 AB, Class B | 8032 | 136975 |
|  T-Mobile US, Inc. | 5030 | 1204081 |
|  Vodafone Group plc | 285618 | 330964 |
|  |  | 4797767 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 74184868 |
|  **Consumer Discretionary (5.9%)** |  |  |
|  ***Automobile Components (0.1%)*** |  |  |
|  Aisin Corp. | 7245 | 125416 |
|  Aptiv plc\* | 2264 | 195202 |
|  Bridgestone Corp. | 8392 | 388602 |
|  Cie Generale des Etablissements Michelin SCA | 9835 | 352639 |
|  Continental AG | 1614 | 106343 |
|  Denso Corp. | 25648 | 370364 |
|  Sumitomo Electric Industries Ltd. | 10452 | 298114 |
|  |  | 1836680 |
|  ***Automobiles (1.4%)*** |  |  |
|  Bayerische Motoren Werke AG | 4116 | 412879 |
|  Bayerische Motoren Werke AG (Preference)(q) | 821 | 76099 |
|  Dr Ing hc F Porsche AG (Preference)(m)(q)(x) | 1671 | 80985 |
|  Ferrari NV | 1849 | 893509 |
|  Ford Motor Co. | 40634 | 485983 |
|  General Motors Co. | 9897 | 603420 |
|  Honda Motor Co. Ltd.(x) | 58094 | 601426 |
|  Isuzu Motors Ltd.(x) | 7880 | 99616 |
|  Mercedes-Benz Group AG | 10594 | 665054 |
|  Nissan Motor Co. Ltd.\* | 32673 | 80376 |
|  Porsche Automobil Holding SE (Preference)(q) | 2246 | 88205 |
|  Renault SA | 2820 | 115217 |
|  Stellantis NV | 29575 | 273058 |
|  Subaru Corp. | 8614 | 176491 |
|  Suzuki Motor Corp. | 23050 | 336745 |
|  Tesla, Inc.\* | 29170 | 12972482 |
|  Toyota Motor Corp. | 138977 | 2677858 |
|  Volkswagen AG (Preference)(q) | 3025 | 326596 |
|  Yamaha Motor Co. Ltd. | 13453 | 100976 |
|  |  | 21066975 |
|  ***Broadline Retail (1.7%)*** |  |  |
|  Amazon.com, Inc.\* | 100885 | 22151319 |
|  eBay, Inc. | 4751 | 432103 |
|  Next plc | 1712 | 284930 |
|  Pan Pacific International Holdings Corp. | 27835 | 183515 |
|  Prosus NV | 19192 | 1350590 |
|  Rakuten Group, Inc.\* | 22230 | 144292 |
|  Ryohin Keikaku Co. Ltd. | 7400 | 147365 |
|  Sea Ltd. (ADR)\* | 5612 | 1003033 |
|  Wesfarmers Ltd. | 16647 | 1013630 |
|  |  | 26710777 |
|  ***Distributors (0.0%)†*** |  |  |
|  D'ieteren Group | 315 | 58876 |
|  Genuine Parts Co. | 1446 | 200416 |
|  LKQ Corp. | 2675 | 81694 |
|  Pool Corp. | 341 | 105734 |
|  |  | 446720 |
|  ***Diversified Consumer Services (0.0%)†*** |  |  |
|  Pearson plc | 8604 | 122253 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC MODERATE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***Hotels, Restaurants & Leisure (1.0%)*** |  |  |
|  Accor SA | 2875 | $136028 |
|  Airbnb, Inc., Class A\* | 4460 | 541533 |
|  Amadeus IT Group SA | 6609 | 523752 |
|  Aristocrat Leisure Ltd. | 8235 | 381328 |
|  Booking Holdings, Inc. | 337 | 1819554 |
|  Carnival Corp.\* | 11286 | 326278 |
|  Chipotle Mexican Grill, Inc.\* | 13939 | 546269 |
|  Compass Group plc | 24902 | 846980 |
|  Darden Restaurants, Inc. | 1217 | 231668 |
|  Delivery Hero SE(m)\* | 2819 | 80788 |
|  Domino's Pizza, Inc. | 325 | 140306 |
|  DoorDash, Inc., Class A\* | 3848 | 1046617 |
|  Entain plc | 8914 | 104755 |
|  Evolution AB(m) | 2100 | 172517 |
|  Expedia Group, Inc. | 1229 | 262699 |
|  FDJ United | 1631 | 54574 |
|  Galaxy Entertainment Group Ltd. | 32385 | 178447 |
|  Genting Singapore Ltd. | 86763 | 49437 |
|  Hilton Worldwide Holdings, Inc. | 2445 | 634331 |
|  InterContinental Hotels Group plc | 2155 | 260090 |
|  Las Vegas Sands Corp. | 3211 | 172720 |
|  Lottery Corp. Ltd. (The) | 32180 | 125206 |
|  Marriott International, Inc., Class A | 2342 | 609950 |
|  McDonald's Corp. | 7418 | 2254256 |
|  MGM Resorts International\* | 2122 | 73549 |
|  Norwegian Cruise Line Holdings Ltd.\* | 4698 | 115712 |
|  Oriental Land Co. Ltd.(x) | 15799 | 381073 |
|  Royal Caribbean Cruises Ltd. | 2626 | 849721 |
|  Sands China Ltd. | 35637 | 99374 |
|  Sodexo SA | 1298 | 81606 |
|  Starbucks Corp. | 11816 | 999634 |
|  Whitbread plc | 2566 | 111123 |
|  Wynn Resorts Ltd. | 878 | 112621 |
|  Yum! Brands, Inc. | 2885 | 438520 |
|  Zensho Holdings Co. Ltd. | 1383 | 90451 |
|  |  | 14853467 |
|  ***Household Durables (0.3%)*** |  |  |
|  Barratt Redrow plc | 20067 | 105227 |
|  DR Horton, Inc. | 2882 | 488412 |
|  Garmin Ltd. | 1701 | 418820 |
|  Lennar Corp., Class A | 2366 | 298211 |
|  Mohawk Industries, Inc.\* | 543 | 70003 |
|  NVR, Inc.\* | 30 | 241040 |
|  Panasonic Holdings Corp. | 34155 | 371840 |
|  PulteGroup, Inc. | 2051 | 270998 |
|  Sekisui House Ltd. | 8761 | 199468 |
|  Sony Group Corp. | 90138 | 2595921 |
|  |  | 5059940 |
|  ***Leisure Products (0.0%)†*** |  |  |
|  Bandai Namco Holdings, Inc. | 8622 | 287138 |
|  Hasbro, Inc. | 1385 | 105052 |
|  Shimano, Inc. | 1086 | 121903 |
|  |  | 514093 |
|  ***Specialty Retail (0.9%)*** |  |  |
|  AutoZone, Inc.\* | 174 | 746502 |
|  Avolta AG | 1290 | 69779 |
|  Best Buy Co., Inc. | 2043 | 154492 |
|  CarMax, Inc.\* | 1560 | 69997 |
|  Fast Retailing Co. Ltd. | 2839 | 864649 |
|  H & M Hennes & Mauritz AB, Class B(x) | 8275 | 154040 |
|  Home Depot, Inc. (The) | 10342 | 4190475 |
|  Industria de Diseno Textil SA | 16003 | 882487 |
|  JD Sports Fashion plc | 37215 | 47698 |
|  Kingfisher plc | 25751 | 106911 |
|  Lowe's Cos., Inc. | 5826 | 1464132 |
|  Nitori Holdings Co. Ltd.(x) | 5745 | 110852 |
|  O'Reilly Automotive, Inc.\* | 8820 | 950884 |
|  Ross Stores, Inc. | 3400 | 518126 |
|  Sanrio Co. Ltd.(x) | 2600 | 122207 |
|  TJX Cos., Inc. (The) | 11597 | 1676230 |
|  Tractor Supply Co. | 5509 | 313297 |
|  Ulta Beauty, Inc.\* | 467 | 255332 |
|  Williams-Sonoma, Inc. | 1279 | 249981 |
|  Zalando SE(m)\* | 3294 | 100589 |
|  ZOZO, Inc.(x) | 6520 | 59960 |
|  |  | 13108620 |
|  ***Textiles, Apparel & Luxury Goods (0.5%)*** |  |  |
|  adidas AG | 2508 | 528246 |
|  Asics Corp. | 10262 | 268685 |
|  Cie Financiere Richemont SA (Registered) | 7884 | 1501431 |
|  Deckers Outdoor Corp.\* | 1542 | 156313 |
|  Hermes International SCA | 465 | 1137179 |
|  Kering SA | 1092 | 362247 |
|  Lululemon Athletica, Inc.\* | 1134 | 201773 |
|  LVMH Moet Hennessy Louis Vuitton SE | 3667 | 2240878 |
|  Moncler SpA | 3427 | 200650 |
|  NIKE, Inc., Class B | 12349 | 861096 |
|  Pandora A/S | 1159 | 151008 |
|  Ralph Lauren Corp. | 402 | 126051 |
|  Swatch Group AG (The)(x) | 425 | 79789 |
|  Tapestry, Inc. | 2163 | 244895 |
|  |  | 8060241 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 91779766 |
|  **Consumer Staples (3.2%)** |  |  |
|  ***Beverages (0.6%)*** |  |  |
|  Anheuser-Busch InBev SA/NV | 14502 | 864925 |
|  Asahi Group Holdings Ltd. | 21232 | 254910 |
|  Brown-Forman Corp., Class B | 1831 | 49584 |
|  Carlsberg A/S, Class B | 1379 | 160239 |
|  Coca-Cola Co. (The) | 40263 | 2670242 |
|  Coca-Cola Europacific Partners plc | 3379 | 305495 |
|  Coca-Cola HBC AG | 3200 | 150801 |
|  Constellation Brands, Inc., Class A | 1484 | 199850 |
|  Davide Campari-Milano NV(x) | 9032 | 56944 |
|  Diageo plc | 32645 | 779520 |
|  Heineken Holding NV | 1902 | 130298 |
|  Heineken NV | 4224 | 329389 |
|  Keurig Dr Pepper, Inc. | 14121 | 360227 |
|  Kirin Holdings Co. Ltd. | 11447 | 167775 |
|  Molson Coors Beverage Co., Class B | 1761 | 79685 |
|  Monster Beverage Corp.\* | 7410 | 498767 |
|  PepsiCo, Inc. | 14232 | 1998742 |
|  Pernod Ricard SA | 2960 | 290317 |
|  Suntory Beverage & Food Ltd. | 1995 | 62392 |
|  |  | 9410102 |
|  ***Consumer Staples Distribution & Retail (0.9%)*** |  |  |
|  Aeon Co. Ltd. | 32646 | 396251 |
|  Carrefour SA | 8642 | 130834 |
|  Coles Group Ltd. | 19674 | 303196 |
|  Costco Wholesale Corp. | 4610 | 4267154 |
|  Dollar General Corp. | 2288 | 236465 |
|  Dollar Tree, Inc.\* | 2018 | 190439 |
|  J Sainsbury plc | 25299 | 113642 |
|  Jeronimo Martins SGPS SA | 4155 | 100978 |
|  Kesko OYJ, Class B | 4007 | 85150 |
|  Kobe Bussan Co. Ltd. | 2159 | 59331 |
|  Koninklijke Ahold Delhaize NV | 13317 | 538620 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC MODERATE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Kroger Co. (The) | 6323 | $426233 |
|  Marks & Spencer Group plc | 30170 | 147898 |
|  MatsukiyoCocokara & Co. | 4771 | 96914 |
|  Seven & i Holdings Co. Ltd. | 30565 | 411502 |
|  Sysco Corp. | 4964 | 408736 |
|  Target Corp. | 4723 | 423653 |
|  Tesco plc | 96307 | 577026 |
|  Walmart, Inc. | 45626 | 4702216 |
|  Woolworths Group Ltd. | 17919 | 316582 |
|  |  | 13932820 |
|  ***Food Products (0.6%)*** |  |  |
|  Ajinomoto Co., Inc. | 13228 | 379796 |
|  Archer-Daniels-Midland Co. | 4994 | 298342 |
|  Associated British Foods plc | 4740 | 130748 |
|  Barry Callebaut AG (Registered)(x) | 52 | 71202 |
|  Bunge Global SA | 1456 | 118300 |
|  Campbell's Co. (The)(x) | 2045 | 64581 |
|  Chocoladefabriken Lindt & Spruengli AG | 14 | 213856 |
|  Chocoladefabriken Lindt & Spruengli AG (Registered) | 2 | 300484 |
|  Conagra Brands, Inc. | 4980 | 91184 |
|  Danone SA | 9496 | 826793 |
|  General Mills, Inc. | 5558 | 280234 |
|  Hershey Co. (The) | 1540 | 288057 |
|  Hormel Foods Corp. | 3030 | 74962 |
|  J M Smucker Co. (The) | 1109 | 120437 |
|  JDE Peet's NV | 2507 | 91832 |
|  Kellanova | 2795 | 229246 |
|  Kerry Group plc, Class A | 2402 | 216440 |
|  Kikkoman Corp.(x) | 9936 | 84320 |
|  Kraft Heinz Co. (The) | 8859 | 230688 |
|  Lamb Weston Holdings, Inc. | 1449 | 84158 |
|  Lotus Bakeries NV | 6 | 56495 |
|  McCormick & Co., Inc. (Non- Voting) | 2630 | 175973 |
|  Meiji Holdings Co. Ltd.(x) | 3541 | 73413 |
|  Mondelez International, Inc., Class A | 13451 | 840284 |
|  Mowi ASA | 6828 | 144229 |
|  Nestle SA (Registered) | 37787 | 3468496 |
|  Nissin Foods Holdings Co. Ltd.(x) | 2821 | 53145 |
|  Orkla ASA | 10284 | 107379 |
|  Salmar ASA | 981 | 52394 |
|  Tyson Foods, Inc., Class A | 2971 | 161325 |
|  WH Group Ltd.(m) | 125158 | 135581 |
|  Wilmar International Ltd. | 28563 | 63107 |
|  Yakult Honsha Co. Ltd.(x) | 3681 | 60025 |
|  |  | 9587506 |
|  ***Household Products (0.4%)*** |  |  |
|  Church & Dwight Co., Inc. | 2532 | 221879 |
|  Clorox Co. (The) | 1271 | 156714 |
|  Colgate-Palmolive Co. | 8401 | 671576 |
|  Essity AB, Class B | 8835 | 230673 |
|  Henkel AG & Co. KGaA | 1525 | 113065 |
|  Henkel AG & Co. KGaA (Preference)(q) | 2353 | 189787 |
|  Kimberly-Clark Corp. | 3449 | 428849 |
|  Procter & Gamble Co. (The) | 24349 | 3741224 |
|  Reckitt Benckiser Group plc | 9964 | 766245 |
|  Unicharm Corp. | 16434 | 106615 |
|  |  | 6626627 |
|  ***Personal Care Products (0.3%)*** |  |  |
|  Beiersdorf AG | 1428 | 149212 |
|  Estee Lauder Cos., Inc. (The), Class A | 2435 | 214572 |
|  Kao Corp. | 6784 | 295930 |
|  Kenvue, Inc. | 19949 | 323772 |
|  L'Oreal SA | 3526 | 1525480 |
|  Shiseido Co. Ltd. | 5839 | 99774 |
|  Unilever plc | 35955 | 2127659 |
|  |  | 4736399 |
|  ***Tobacco (0.4%)*** |  |  |
|  Altria Group, Inc. | 17463 | 1153606 |
|  British American Tobacco plc | 30571 | 1622807 |
|  Imperial Brands plc | 11325 | 480995 |
|  Japan Tobacco, Inc. | 17617 | 579192 |
|  Philip Morris International, Inc. | 16181 | 2624558 |
|  |  | 6461158 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 50754612 |
|  **Energy (1.7%)** |  |  |
|  ***Energy Equipment & Services (0.1%)*** |  |  |
|  Baker Hughes Co. | 10248 | 499283 |
|  Halliburton Co. | 8863 | 218030 |
|  Schlumberger NV | 15509 | 533044 |
|  Tenaris SA | 5505 | 98175 |
|  |  | 1348532 |
|  ***Oil, Gas & Consumable Fuels (1.6%)*** |  |  |
|  Aker BP ASA | 4636 | 117578 |
|  APA Corp. | 3719 | 90297 |
|  BP plc | 232610 | 1331904 |
|  Chevron Corp. | 20006 | 3106732 |
|  ConocoPhillips | 12983 | 1228062 |
|  Coterra Energy, Inc. | 7933 | 187615 |
|  Devon Energy Corp. | 6599 | 231361 |
|  Diamondback Energy, Inc. | 1956 | 279904 |
|  ENEOS Holdings, Inc. | 39664 | 252089 |
|  Eni SpA(x) | 30005 | 523690 |
|  EOG Resources, Inc. | 5676 | 636393 |
|  EQT Corp. | 6487 | 353087 |
|  Equinor ASA | 11251 | 274411 |
|  Expand Energy Corp. | 2476 | 263050 |
|  Exxon Mobil Corp. | 44317 | 4996742 |
|  Galp Energia SGPS SA | 6121 | 115700 |
|  Idemitsu Kosan Co. Ltd.(x) | 11388 | 78238 |
|  Inpex Corp. | 12946 | 233997 |
|  Kinder Morgan, Inc. | 20327 | 575457 |
|  Marathon Petroleum Corp. | 3160 | 609058 |
|  Neste OYJ | 6207 | 113573 |
|  Occidental Petroleum Corp. | 7470 | 352957 |
|  OMV AG | 2161 | 115236 |
|  ONEOK, Inc. | 6546 | 477662 |
|  Phillips 66 | 4201 | 571420 |
|  Repsol SA | 16976 | 300256 |
|  Santos Ltd. | 47637 | 212139 |
|  Shell plc | 86421 | 3075964 |
|  Targa Resources Corp. | 2237 | 374787 |
|  Texas Pacific Land Corp.(x) | 201 | 187662 |
|  TotalEnergies SE | 30108 | 1828567 |
|  Valero Energy Corp. | 3229 | 549770 |
|  Williams Cos., Inc. (The) | 12694 | 804165 |
|  Woodside Energy Group Ltd. | 27852 | 424435 |
|  |  | 24873958 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 26222490 |
|  **Financials (9.7%)** |  |  |
|  ***Banks (4.0%)*** |  |  |
|  ABN AMRO Bank NV (CVA)(m) | 8554 | 273667 |
|  AIB Group plc | 31343 | 283899 |
|  ANZ Group Holdings Ltd. | 43767 | 961782 |
|  Banca Monte dei Paschi di Siena SpA | 28971 | 256461 |
|  Banco Bilbao Vizcaya Argentaria SA | 84520 | 1621430 |
|  Banco BPM SpA | 16668 | 249016 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC MODERATE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Banco Comercial Portugues SA, Class R | 121955 | $107844 |
|  Banco de Sabadell SA | 72180 | 279652 |
|  Banco Santander SA | 218295 | 2274311 |
|  Bank Hapoalim BM | 18335 | 372656 |
|  Bank Leumi Le-Israel BM | 21911 | 431909 |
|  Bank of America Corp. | 70836 | 3654429 |
|  Bank of Ireland Group plc | 14134 | 232565 |
|  Bankinter SA | 9891 | 155666 |
|  Banque Cantonale Vaudoise (Registered) | 442 | 52137 |
|  Barclays plc | 207468 | 1059174 |
|  BNP Paribas SA | 14926 | 1355121 |
|  BOC Hong Kong Holdings Ltd. | 54095 | 254002 |
|  BPER Banca SpA | 21456 | 237697 |
|  CaixaBank SA | 57168 | 600438 |
|  Chiba Bank Ltd. (The)(x) | 8290 | 87141 |
|  Citigroup, Inc. | 19136 | 1942304 |
|  Citizens Financial Group, Inc. | 4484 | 238369 |
|  Commerzbank AG | 11296 | 425580 |
|  Commonwealth Bank of Australia | 24543 | 2710473 |
|  Credit Agricole SA | 15534 | 304934 |
|  Danske Bank A/S | 9799 | 417510 |
|  DBS Group Holdings Ltd. | 31587 | 1252510 |
|  DNB Bank ASA | 13004 | 353782 |
|  Erste Group Bank AG | 4516 | 441127 |
|  Fifth Third Bancorp | 6880 | 306504 |
|  FinecoBank Banca Fineco SpA | 8973 | 193892 |
|  Hang Seng Bank Ltd. | 11002 | 167534 |
|  HSBC Holdings plc | 255816 | 3595291 |
|  Huntington Bancshares, Inc. | 15238 | 263160 |
|  ING Groep NV | 44320 | 1148648 |
|  Intesa Sanpaolo SpA | 208882 | 1376766 |
|  Israel Discount Bank Ltd., Class A | 17985 | 177776 |
|  Japan Post Bank Co. Ltd. | 26252 | 322103 |
|  JPMorgan Chase & Co. | 28584 | 9016251 |
|  KBC Group NV | 3369 | 401273 |
|  KeyCorp | 9689 | 181087 |
|  Lloyds Banking Group plc | 878721 | 990578 |
|  M&T Bank Corp. | 1624 | 320935 |
|  Mitsubishi UFJ Financial Group, Inc. | 168092 | 2721116 |
|  Mizrahi Tefahot Bank Ltd. | 2288 | 150521 |
|  Mizuho Financial Group, Inc. | 36911 | 1244968 |
|  National Australia Bank Ltd. | 44921 | 1312325 |
|  NatWest Group plc | 118826 | 833564 |
|  Nordea Bank Abp | 45813 | 751670 |
|  Oversea-Chinese Banking Corp. Ltd. | 49585 | 631945 |
|  PNC Financial Services Group, Inc. (The) | 4094 | 822607 |
|  Regions Financial Corp. | 9276 | 244608 |
|  Resona Holdings, Inc. | 30503 | 311558 |
|  Skandinaviska Enskilda Banken AB, Class A | 22207 | 433790 |
|  Societe Generale SA | 10567 | 699213 |
|  Standard Chartered plc | 28986 | 559605 |
|  Sumitomo Mitsui Financial Group, Inc. | 54094 | 1527515 |
|  Sumitomo Mitsui Trust Group, Inc. | 9415 | 273693 |
|  Svenska Handelsbanken AB, Class A | 21394 | 278151 |
|  Swedbank AB, Class A | 12454 | 374636 |
|  Truist Financial Corp. | 13404 | 612831 |
|  UniCredit SpA | 20559 | 1556131 |
|  United Overseas Bank Ltd. | 18142 | 486337 |
|  US Bancorp | 16177 | 781834 |
|  Wells Fargo & Co. | 33300 | 2791206 |
|  Westpac Banking Corp. | 50186 | 1294119 |
|  Yokohama Financial Group, Inc. | 15077 | 115918 |
|  |  | 62159245 |
|  ***Capital Markets (1.9%)*** |  |  |
|  3i Group plc | 14280 | 785299 |
|  Ameriprise Financial, Inc. | 980 | 481425 |
|  Amundi SA(m) | 904 | 71534 |
|  ASX Ltd. | 2851 | 110530 |
|  Bank of New York Mellon Corp. (The) | 7331 | 798786 |
|  BlackRock, Inc. | 1497 | 1745307 |
|  Blackstone, Inc. | 7662 | 1309053 |
|  Cboe Global Markets, Inc. | 1087 | 266587 |
|  Charles Schwab Corp. (The) | 17737 | 1693351 |
|  CME Group, Inc. | 3746 | 1012132 |
|  Coinbase Global, Inc., Class A\* | 2351 | 793439 |
|  CVC Capital Partners plc(m) | 3119 | 54269 |
|  Daiwa Securities Group, Inc.(x) | 19540 | 158886 |
|  Deutsche Bank AG (Registered) | 27151 | 954705 |
|  Deutsche Boerse AG | 2762 | 739666 |
|  EQT AB | 5434 | 187937 |
|  Euronext NV(m) | 1147 | 171561 |
|  FactSet Research Systems, Inc. | 393 | 112591 |
|  Franklin Resources, Inc. | 3184 | 73646 |
|  Futu Holdings Ltd. (ADR) | 904 | 157215 |
|  Goldman Sachs Group, Inc. (The) | 3147 | 2506113 |
|  Hong Kong Exchanges & Clearing Ltd. | 17681 | 1004247 |
|  Interactive Brokers Group, Inc., Class A | 4628 | 318453 |
|  Intercontinental Exchange, Inc. | 5950 | 1002456 |
|  Invesco Ltd. | 4636 | 106350 |
|  Japan Exchange Group, Inc. | 14538 | 162451 |
|  Julius Baer Group Ltd. | 3022 | 208642 |
|  KKR & Co., Inc. | 7131 | 926673 |
|  London Stock Exchange Group plc | 6971 | 798400 |
|  Macquarie Group Ltd. | 5312 | 770934 |
|  Moody's Corp. | 1604 | 764274 |
|  Morgan Stanley | 12611 | 2004645 |
|  MSCI, Inc. | 804 | 456198 |
|  Nasdaq, Inc. | 4712 | 416776 |
|  Nomura Holdings, Inc. | 44121 | 323855 |
|  Northern Trust Corp. | 1988 | 267585 |
|  Partners Group Holding AG | 333 | 432329 |
|  Raymond James Financial, Inc. | 1845 | 318447 |
|  Robinhood Markets, Inc., Class A\* | 8045 | 1151883 |
|  S&P Global, Inc. | 3248 | 1580834 |
|  SBI Holdings, Inc. | 4109 | 178825 |
|  Schroders plc | 10633 | 53769 |
|  Singapore Exchange Ltd. | 12300 | 157618 |
|  State Street Corp. | 2949 | 342113 |
| T. Rowe Price Group, Inc. | 2284 | 234430 |
|  UBS Group AG (Registered) | 46555 | 1901266 |
|  |  | 30067485 |
|  ***Consumer Finance (0.3%)*** |  |  |
|  American Express Co. | 5642 | 1874047 |
|  Capital One Financial Corp. | 6648 | 1413232 |
|  Synchrony Financial | 3868 | 274821 |
|  |  | 3562100 |
|  ***Financial Services (1.7%)*** |  |  |
|  Adyen NV(m)\* | 370 | 592954 |
|  Apollo Global Management, Inc. | 4783 | 637430 |
|  Banca Mediolanum SpA | 3281 | 65678 |
|  Berkshire Hathaway, Inc., Class B\* | 19062 | 9583230 |
|  Block, Inc., Class A\* | 5713 | 412879 |
|  Corpay, Inc.\* | 734 | 211436 |
|  Edenred SE | 3519 | 83456 |
|  EXOR NV | 1372 | 134018 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC MODERATE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Fidelity National Information Services, Inc. | 5430 | $358054 |
|  Fiserv, Inc.\* | 5651 | 728583 |
|  Global Payments, Inc. | 2522 | 209528 |
|  Groupe Bruxelles Lambert NV | 1173 | 104733 |
|  Industrivarden AB, Class A | 1739 | 68936 |
|  Industrivarden AB, Class C(x) | 2287 | 90587 |
|  Infratil Ltd. | 13653 | 97754 |
|  Investor AB, Class B | 25392 | 793096 |
|  Jack Henry & Associates, Inc. | 757 | 112740 |
|  L E Lundbergforetagen AB, Class B | 1115 | 57844 |
|  M&G plc | 33517 | 114045 |
|  Mastercard, Inc., Class A | 8581 | 4880959 |
|  Mitsubishi HC Capital, Inc. | 12928 | 106870 |
|  Nexi SpA(m)(x) | 8121 | 45918 |
|  ORIX Corp.(x) | 17060 | 447827 |
|  PayPal Holdings, Inc.\* | 9931 | 665973 |
|  Sofina SA(x) | 226 | 66599 |
|  Visa, Inc., Class A | 17658 | 6028088 |
|  Washington H Soul Pattinson & Co. Ltd. | 3508 | 89345 |
|  Wise plc, Class A\* | 9775 | 136065 |
|  |  | 26924625 |
|  ***Insurance (1.8%)*** |  |  |
|  Admiral Group plc | 3820 | 172210 |
|  Aegon Ltd. | 19399 | 155602 |
|  Aflac, Inc. | 5004 | 558947 |
|  Ageas SA/NV | 2189 | 151373 |
|  AIA Group Ltd. | 155855 | 1495072 |
|  Allianz SE (Registered) | 5663 | 2376226 |
|  Allstate Corp. (The) | 2739 | 587926 |
|  American International Group, Inc. | 5759 | 452312 |
|  Aon plc, Class A | 2241 | 799096 |
|  Arch Capital Group Ltd. | 3864 | 350581 |
|  Arthur J Gallagher & Co. | 2665 | 825457 |
|  ASR Nederland NV | 2127 | 144288 |
|  Assurant, Inc. | 525 | 113715 |
|  Aviva plc | 44842 | 413592 |
|  AXA SA | 25994 | 1240262 |
|  Baloise Holding AG (Registered) | 605 | 149264 |
|  Brown & Brown, Inc. | 3046 | 285684 |
|  Chubb Ltd. | 3854 | 1087791 |
|  Cincinnati Financial Corp. | 1616 | 255490 |
|  Dai-ichi Life Holdings, Inc. | 51546 | 406415 |
|  Erie Indemnity Co., Class A | 264 | 83994 |
|  Everest Group Ltd. | 436 | 152700 |
|  Generali | 12503 | 490430 |
|  Gjensidige Forsikring ASA | 2934 | 86025 |
|  Globe Life, Inc. | 842 | 120381 |
|  Hannover Rueck SE | 884 | 266315 |
|  Hartford Insurance Group, Inc. (The) | 2923 | 389899 |
|  Helvetia Holding AG (Registered) | 545 | 133298 |
|  Insurance Australia Group Ltd. | 34703 | 188296 |
|  Japan Post Holdings Co. Ltd. | 26202 | 260452 |
|  Japan Post Insurance Co. Ltd. | 2749 | 77943 |
|  Legal & General Group plc | 84120 | 269257 |
|  Loews Corp. | 1768 | 177490 |
|  Marsh & McLennan Cos., Inc. | 5110 | 1029818 |
|  Medibank Pvt Ltd. | 40405 | 128867 |
|  MetLife, Inc. | 5807 | 478323 |
|  MS&AD Insurance Group Holdings, Inc. | 18859 | 427973 |
|  Muenchener Rueckversicherungs- Gesellschaft AG in Muenchen (Registered) | 1916 | 1222367 |
|  NN Group NV | 3946 | 277505 |
|  Phoenix Financial Ltd. | 3315 | 124105 |
|  Phoenix Group Holdings plc | 10307 | 89201 |
|  Poste Italiane SpA(m) | 6707 | 158983 |
|  Principal Financial Group, Inc. | 2107 | 174691 |
|  Progressive Corp. (The) | 6094 | 1504913 |
|  Prudential Financial, Inc. | 3659 | 379585 |
|  Prudential plc | 37875 | 530265 |
|  QBE Insurance Group Ltd. | 22148 | 301753 |
|  Sampo OYJ, Class A | 35516 | 407719 |
|  Sompo Holdings, Inc. | 12990 | 401861 |
|  Sony Financial Group, Inc.\* | 90138 | 99960 |
|  Suncorp Group Ltd. | 15887 | 212982 |
|  Swiss Life Holding AG (Registered) | 419 | 450344 |
|  Swiss Re AG | 4383 | 809648 |
|  T&D Holdings, Inc.(x) | 7224 | 176930 |
|  Talanx AG | 947 | 125859 |
|  Tokio Marine Holdings, Inc. | 26942 | 1142100 |
|  Travelers Cos., Inc. (The) | 2340 | 653375 |
|  Tryg A/S | 4933 | 125147 |
|  Unipol Assicurazioni SpA | 5263 | 112829 |
|  W.R. Berkley Corp. | 3111 | 238365 |
|  Willis Towers Watson plc | 1014 | 350286 |
|  Zurich Insurance Group AG | 2146 | 1527446 |
|  |  | 28380983 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 151094438 |
|  **Health Care (5.3%)** |  |  |
|  ***Biotechnology (0.7%)*** |  |  |
|  AbbVie, Inc. | 18363 | 4251769 |
|  Amgen, Inc. | 5596 | 1579191 |
|  Argenx SE\* | 898 | 650712 |
|  Biogen, Inc.\* | 1524 | 213482 |
|  CSL Ltd. | 7103 | 931551 |
|  Genmab A/S\* | 894 | 271024 |
|  Gilead Sciences, Inc. | 12898 | 1431678 |
|  Grifols SA | 4376 | 63321 |
|  Incyte Corp.\* | 1705 | 144601 |
|  Moderna, Inc.\* | 3600 | 92988 |
|  Regeneron Pharmaceuticals, Inc. | 1059 | 595444 |
|  Swedish Orphan Biovitrum AB\* | 2873 | 87523 |
|  Vertex Pharmaceuticals, Inc.\* | 2665 | 1043721 |
|  |  | 11357005 |
|  ***Health Care Equipment & Supplies (1.1%)*** |  |  |
|  Abbott Laboratories | 18092 | 2423242 |
|  Alcon AG | 7330 | 545664 |
|  Align Technology, Inc.\* | 701 | 87779 |
|  Baxter International, Inc. | 5339 | 121569 |
|  Becton Dickinson & Co. | 2980 | 557767 |
|  BioMerieux | 608 | 81233 |
|  Boston Scientific Corp.\* | 15403 | 1503795 |
|  Cochlear Ltd. | 959 | 177204 |
|  Coloplast A/S, Class B | 1850 | 157997 |
|  Cooper Cos., Inc. (The)\* | 2074 | 142193 |
|  Demant A/S\* | 1255 | 43465 |
|  Dexcom, Inc.\* | 4076 | 274274 |
|  Edwards Lifesciences Corp.\* | 6103 | 474630 |
|  EssilorLuxottica SA | 4415 | 1430627 |
|  Fisher & Paykel Healthcare Corp. Ltd. | 8602 | 184769 |
|  GE HealthCare Technologies, Inc. | 4746 | 356425 |
|  Hologic, Inc.\* | 2312 | 156037 |
|  Hoya Corp. | 4997 | 691845 |
|  IDEXX Laboratories, Inc.\* | 832 | 531556 |
|  Insulet Corp.\* | 732 | 225990 |
|  Intuitive Surgical, Inc.\* | 3726 | 1666379 |
|  Koninklijke Philips NV | 11299 | 305639 |
|  Medtronic plc | 13319 | 1268502 |
|  Olympus Corp. | 16752 | 211942 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC MODERATE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ResMed, Inc. | 1522 | $416617 |
|  Siemens Healthineers AG(m) | 4964 | 268204 |
|  Smith & Nephew plc | 12209 | 219616 |
|  Solventum Corp.\* | 1532 | 111836 |
|  Sonova Holding AG (Registered) | 744 | 202438 |
|  STERIS plc | 1024 | 253379 |
|  Straumann Holding AG (Registered) | 1638 | 174695 |
|  Stryker Corp. | 3577 | 1322310 |
|  Sysmex Corp. | 7425 | 91604 |
|  Terumo Corp. | 19518 | 322429 |
|  Zimmer Biomet Holdings, Inc. | 2059 | 202811 |
|  |  | 17206462 |
|  ***Health Care Providers & Services (0.7%)*** |  |  |
|  Cardinal Health, Inc. | 2482 | 389575 |
|  Cencora, Inc. | 2015 | 629748 |
|  Centene Corp.\* | 4850 | 173048 |
|  Cigna Group (The) | 2775 | 799894 |
|  CVS Health Corp. | 13184 | 993942 |
|  DaVita, Inc.\* | 372 | 49428 |
|  Elevance Health, Inc. | 2341 | 756424 |
|  Fresenius Medical Care AG | 3229 | 169306 |
|  Fresenius SE & Co. KGaA | 6196 | 344807 |
|  HCA Healthcare, Inc. | 1703 | 725818 |
|  Henry Schein, Inc.\* | 1072 | 71149 |
|  Humana, Inc. | 1250 | 325212 |
|  Labcorp Holdings, Inc. | 864 | 248020 |
|  McKesson Corp. | 1293 | 998894 |
|  Molina Healthcare, Inc.\* | 563 | 107736 |
|  NMC Health plc(r)\* | 3800 |  |
|  Quest Diagnostics, Inc. | 1162 | 221454 |
|  Sigma Healthcare Ltd. | 67743 | 133132 |
|  Sonic Healthcare Ltd. | 6888 | 97719 |
|  UnitedHealth Group, Inc. | 9415 | 3250999 |
|  Universal Health Services, Inc., Class B | 586 | 119802 |
|  |  | 10606107 |
|  ***Health Care Technology (0.0%)†*** |  |  |
|  M3, Inc.(x) | 6433 | 103791 |
|  Pro Medicus Ltd. | 843 | 171968 |
|  |  | 275759 |
|  ***Life Sciences Tools & Services (0.4%)*** |  |  |
|  Agilent Technologies, Inc. | 2953 | 379018 |
|  Bio-Techne Corp. | 1630 | 90677 |
|  Charles River Laboratories International, Inc.\* | 512 | 80108 |
|  Danaher Corp. | 6625 | 1313472 |
|  Eurofins Scientific SE | 1737 | 125989 |
|  IQVIA Holdings, Inc.\* | 1767 | 335624 |
|  Lonza Group AG (Registered) | 1030 | 682138 |
|  Mettler-Toledo International, Inc.\* | 214 | 262709 |
|  QIAGEN NV | 3177 | 140601 |
|  Revvity, Inc. | 1207 | 105794 |
|  Sartorius AG (Preference)(q) | 384 | 89220 |
|  Sartorius Stedim Biotech | 428 | 86454 |
|  Thermo Fisher Scientific, Inc. | 3925 | 1903703 |
|  Waters Corp.\* | 619 | 185582 |
|  West Pharmaceutical Services, Inc. | 747 | 195961 |
|  |  | 5977050 |
|  ***Pharmaceuticals (2.4%)*** |  |  |
|  Astellas Pharma, Inc.(x) | 26565 | 287502 |
|  AstraZeneca plc | 22742 | 3420095 |
|  Bayer AG (Registered) | 14411 | 477630 |
|  Bristol-Myers Squibb Co. | 21158 | 954226 |
|  Chugai Pharmaceutical Co. Ltd. | 9836 | 428864 |
|  Daiichi Sankyo Co. Ltd. | 25042 | 561343 |
|  Eisai Co. Ltd.(x) | 3866 | 130056 |
|  Eli Lilly & Co. | 8264 | 6305432 |
|  Galderma Group AG | 1919 | 333393 |
|  GSK plc | 59903 | 1268473 |
|  Haleon plc | 131800 | 589205 |
|  Hikma Pharmaceuticals plc | 2441 | 55744 |
|  Ipsen SA | 553 | 73755 |
|  Johnson & Johnson | 25035 | 4641990 |
|  Kyowa Kirin Co. Ltd. | 3493 | 54290 |
|  Merck & Co., Inc. | 25965 | 2179242 |
|  Merck KGaA | 1896 | 243636 |
|  Novartis AG (Registered) | 27882 | 3506747 |
|  Novo Nordisk A/S, Class B | 47233 | 2560353 |
|  Orion OYJ, Class B | 1597 | 122153 |
|  Otsuka Holdings Co. Ltd. | 6336 | 336712 |
|  Pfizer, Inc. | 59102 | 1505919 |
|  Recordati Industria Chimica e |  |  |
|  Farmaceutica SpA | 1687 | 102398 |
|  Roche Holding AG (BMV Mexico |  |  |
|  Stock Exchange) | 10304 | 3364122 |
|  Roche Holding AG (OTC US |  |  |
|  Exchange) | 470 | 160711 |
|  Sandoz Group AG | 6131 | 363293 |
|  Sanofi SA | 16205 | 1494451 |
|  Shionogi & Co. Ltd. | 11049 | 193620 |
|  Takeda Pharmaceutical Co. Ltd. | 23327 | 680637 |
|  Teva Pharmaceutical Industries |  |  |
|  Ltd. (ADR)\* | 16823 | 339825 |
|  UCB SA | 1855 | 511798 |
|  Viatris, Inc. | 12119 | 119978 |
|  Zoetis, Inc. | 4607 | 674096 |
|  |  | 38041689 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 83464072 |
|  **Industrials (6.7%)** |  |  |
|  ***Aerospace & Defense (1.5%)*** |  |  |
|  Airbus SE | 8714 | 2019535 |
|  Axon Enterprise, Inc.\* | 816 | 585594 |
|  BAE Systems plc | 44191 | 1223715 |
|  Boeing Co. (The)\* | 7860 | 1696424 |
|  Dassault Aviation SA | 288 | 96231 |
|  Elbit Systems Ltd. | 408 | 206574 |
|  GE Aerospace | 11023 | 3315939 |
|  General Dynamics Corp. | 2624 | 894784 |
|  Hensoldt AG | 932 | 120692 |
|  Howmet Aerospace, Inc. | 4191 | 822400 |
|  Huntington Ingalls Industries, Inc. | 408 | 117467 |
|  Kongsberg Gruppen ASA | 6453 | 206240 |
|  L3Harris Technologies, Inc. | 1945 | 594022 |
|  Leonardo SpA | 5936 | 376474 |
|  Lockheed Martin Corp. | 2136 | 1066313 |
|  Melrose Industries plc | 18657 | 152759 |
|  MTU Aero Engines AG | 789 | 362101 |
|  Northrop Grumman Corp. | 1399 | 852439 |
|  Rheinmetall AG | 673 | 1568024 |
|  Rolls-Royce Holdings plc | 123906 | 1983030 |
|  RTX Corp. | 13914 | 2328230 |
|  Saab AB, Class B(x) | 4698 | 286689 |
|  Safran SA | 5281 | 1860667 |
|  Singapore Technologies Engineering Ltd. | 23401 | 156194 |
|  Textron, Inc. | 1852 | 156475 |
|  Thales SA | 1359 | 425369 |
|  TransDigm Group, Inc. | 586 | 772360 |
|  |  | 24246741 |
|  ***Air Freight & Logistics (0.2%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 1228 | 162587 |
|  Deutsche Post AG | 14083 | 627306 |
|  DSV A/S | 2998 | 596247 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC MODERATE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Expeditors International of |  |  |
|  Washington, Inc. | 1411 | $172975 |
|  FedEx Corp. | 2256 | 531987 |
|  InPost SA\* | 3668 | 45002 |
|  SG Holdings Co. Ltd.(x) | 4194 | 43362 |
|  United Parcel Service, Inc., Class B | 7651 | 639088 |
|  |  | 2818554 |
|  ***Building Products (0.4%)*** |  |  |
|  A.O. Smith Corp. | 1188 | 87211 |
|  AGC, Inc. | 2907 | 94846 |
|  Allegion plc | 892 | 158196 |
|  Assa Abloy AB, Class B | 14703 | 510070 |
|  Belimo Holding AG (Registered) | 144 | 150413 |
|  Builders FirstSource, Inc.\* | 1149 | 139316 |
|  Carrier Global Corp. | 8316 | 496465 |
|  Cie de Saint-Gobain SA | 6589 | 709065 |
|  Daikin Industries Ltd. | 3885 | 448699 |
|  Geberit AG (Registered) | 498 | 373602 |
|  Johnson Controls International plc | 6777 | 745131 |
|  Kingspan Group plc | 2270 | 188689 |
|  Lennox International, Inc. | 332 | 175747 |
|  Masco Corp. | 2176 | 153169 |
|  Nibe Industrier AB, Class B | 22234 | 87477 |
|  ROCKWOOL A/S, Class B | 1414 | 52507 |
|  Trane Technologies plc | 2313 | 975993 |
|  |  | 5546596 |
|  ***Commercial Services & Supplies (0.3%)*** |  |  |
|  Brambles Ltd. | 20051 | 329040 |
|  Cintas Corp. | 3561 | 730931 |
|  Copart, Inc.\* | 9247 | 415838 |
|  Dai Nippon Printing Co. Ltd. | 5769 | 98130 |
|  Rentokil Initial plc | 37061 | 187311 |
|  Republic Services, Inc. | 2110 | 484203 |
|  Rollins, Inc. | 2922 | 171638 |
|  Secom Co. Ltd. | 6125 | 224689 |
|  Securitas AB, Class B | 7215 | 108519 |
|  TOPPAN Holdings, Inc. | 3429 | 87994 |
|  Veralto Corp. | 2580 | 275054 |
|  Waste Management, Inc. | 3852 | 850637 |
|  |  | 3963984 |
|  ***Construction & Engineering (0.2%)*** |  |  |
|  ACS Actividades de Construccion y Servicios SA | 2631 | 210047 |
|  Bouygues SA | 2808 | 126331 |
|  Eiffage SA | 1006 | 128385 |
|  EMCOR Group, Inc. | 465 | 302036 |
|  Ferrovial SE | 7534 | 431473 |
|  Kajima Corp. | 6188 | 180596 |
|  Obayashi Corp. | 9517 | 156316 |
|  Quanta Services, Inc. | 1549 | 641937 |
|  Skanska AB, Class B | 4993 | 129354 |
|  Taisei Corp. | 2265 | 155763 |
|  Vinci SA | 7254 | 1004528 |
|  |  | 3466766 |
|  ***Electrical Equipment (0.8%)*** |  |  |
|  ABB Ltd. (Registered) | 22985 | 1655047 |
|  AMETEK, Inc. | 2401 | 451388 |
|  Eaton Corp. plc | 4047 | 1514590 |
|  Emerson Electric Co. | 5850 | 767403 |
|  Fuji Electric Co. Ltd.(x) | 1927 | 129574 |
|  Fujikura Ltd. | 3708 | 362438 |
|  GE Vernova, Inc. | 2830 | 1740167 |
|  Generac Holdings, Inc.\* | 610 | 102114 |
|  Hubbell, Inc., Class B | 552 | 237531 |
|  Legrand SA | 3847 | 635030 |
|  Mitsubishi Electric Corp. | 27888 | 717166 |
|  Nidec Corp. | 12277 | 218626 |
|  Prysmian SpA | 4130 | 408174 |
|  Rockwell Automation, Inc. | 1169 | 408601 |
|  Schneider Electric SE | 8040 | 2242792 |
|  Siemens Energy AG\* | 9967 | 1163389 |
|  Vestas Wind Systems A/S | 14812 | 279091 |
|  |  | 13033121 |
|  ***Ground Transportation (0.4%)*** |  |  |
|  Central Japan Railway Co. | 11283 | 323723 |
|  CSX Corp. | 19379 | 688148 |
|  East Japan Railway Co.(x) | 14121 | 345661 |
|  Grab Holdings Ltd., Class A\* | 34813 | 209574 |
|  Hankyu Hanshin Holdings, Inc. | 3567 | 105260 |
|  JB Hunt Transport Services, Inc. | 795 | 106665 |
|  MTR Corp. Ltd.(x) | 22328 | 75689 |
|  Norfolk Southern Corp. | 2332 | 700556 |
|  Old Dominion Freight Line, Inc. | 1923 | 270720 |
|  Tokyo Metro Co. Ltd.(x) | 4268 | 48904 |
|  Tokyu Corp. | 7320 | 89294 |
|  Uber Technologies, Inc.\* | 21678 | 2123794 |
|  Union Pacific Corp. | 6165 | 1457221 |
|  West Japan Railway Co.(x) | 6220 | 136400 |
|  |  | 6681609 |
|  ***Industrial Conglomerates (0.5%)*** |  |  |
|  3M Co. | 5537 | 859232 |
|  CK Hutchison Holdings Ltd. | 39467 | 259920 |
|  DCC plc(x) | 1440 | 92417 |
|  Hikari Tsushin, Inc. | 254 | 70901 |
|  Hitachi Ltd. | 67226 | 1786511 |
|  Honeywell International, Inc. | 6600 | 1389300 |
|  Investment AB Latour, Class B | 2172 | 51425 |
|  Jardine Matheson Holdings Ltd. (London Stock Exchange) | 2201 | 135097 |
|  Jardine Matheson Holdings Ltd. (Singapore Stock Exchange) | 200 | 12600 |
|  Keppel Ltd. | 20897 | 144503 |
|  Lifco AB, Class B | 3420 | 115448 |
|  Sekisui Chemical Co. Ltd. | 5521 | 102853 |
|  Siemens AG (Registered) | 11146 | 2999302 |
|  Smiths Group plc | 4852 | 153479 |
|  Swire Pacific Ltd., Class A | 5279 | 44738 |
|  |  | 8217726 |
|  ***Machinery (1.1%)*** |  |  |
|  Alfa Laval AB | 4245 | 193168 |
|  Alstom SA\* | 5084 | 132031 |
|  Atlas Copco AB, Class A | 39403 | 665060 |
|  Atlas Copco AB, Class B | 22894 | 342763 |
|  Caterpillar, Inc. | 4870 | 2323720 |
|  Cummins, Inc. | 1432 | 604834 |
|  Daifuku Co. Ltd. | 4732 | 151766 |
|  Daimler Truck Holding AG | 6969 | 286532 |
|  Deere & Co. | 2618 | 1197107 |
|  Dover Corp. | 1426 | 237900 |
|  Epiroc AB, Class A | 9669 | 203765 |
|  Epiroc AB, Class B | 5721 | 107804 |
|  FANUC Corp. | 13668 | 393907 |
|  Fortive Corp. | 3517 | 172298 |
|  GEA Group AG | 2150 | 158646 |
|  IDEX Corp. | 783 | 127441 |
|  IHI Corp. | 15400 | 287412 |
|  Illinois Tool Works, Inc. | 2757 | 718915 |
|  Indutrade AB | 4009 | 91896 |
|  Ingersoll Rand, Inc. | 3760 | 310651 |
|  Kawasaki Heavy Industries Ltd.(x) | 2200 | 145343 |
|  Knorr-Bremse AG | 1064 | 99748 |
|  Komatsu Ltd. | 13962 | 487162 |
|  Kone OYJ, Class B | 4985 | 339453 |
|  Kubota Corp. | 14336 | 180600 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC MODERATE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Makita Corp. | 3315 | $107732 |
|  Metso OYJ | 9729 | 133470 |
|  Minebea Mitsumi, Inc. | 5308 | 100123 |
|  Mitsubishi Heavy Industries Ltd. | 46985 | 1232409 |
|  Nordson Corp. | 558 | 126638 |
|  Otis Worldwide Corp. | 4080 | 373034 |
|  PACCAR, Inc. | 5458 | 536631 |
|  Parker-Hannifin Corp. | 1328 | 1006823 |
|  Pentair plc | 1704 | 188735 |
|  Rational AG | 75 | 57147 |
|  Sandvik AB | 15640 | 434924 |
|  Schindler Holding AG | 597 | 225886 |
|  Schindler Holding AG (Registered) | 344 | 123806 |
|  SKF AB, Class B | 5005 | 123977 |
|  SMC Corp. | 821 | 252210 |
|  Snap-on, Inc. | 542 | 187819 |
|  Spirax Group plc | 1080 | 98987 |
|  Stanley Black & Decker, Inc. | 1609 | 119597 |
|  Techtronic Industries Co. Ltd. | 21717 | 277813 |
|  Toyota Industries Corp. | 2437 | 274211 |
|  Trelleborg AB, Class B | 2976 | 110797 |
|  VAT Group AG(m) | 396 | 156400 |
|  Volvo AB, Class B | 23306 | 667166 |
|  Wartsila OYJ Abp | 7379 | 220481 |
|  Westinghouse Air Brake Technologies Corp. | 1777 | 356235 |
|  Xylem, Inc. | 2530 | 373175 |
|  Yangzijiang Shipbuilding Holdings Ltd. | 38063 | 99440 |
|  |  | 17925588 |
|  ***Marine Transportation (0.1%)*** |  |  |
|  AP Moller - Maersk A/S, Class A(x) | 43 | 84065 |
|  AP Moller - Maersk A/S, Class B(x) | 58 | 113710 |
|  Kawasaki Kisen Kaisha Ltd.(x) | 5128 | 73027 |
|  Kuehne + Nagel International AG (Registered)(x) | 709 | 131949 |
|  Mitsui OSK Lines Ltd.(x) | 5041 | 153188 |
|  Nippon Yusen KK(x) | 6383 | 218011 |
|  SITC International Holdings Co. Ltd. | 20277 | 78065 |
|  |  | 852015 |
|  ***Passenger Airlines (0.1%)*** |  |  |
|  ANA Holdings, Inc. | 2393 | 46295 |
|  Delta Air Lines, Inc. | 6742 | 382609 |
|  Deutsche Lufthansa AG (Registered) | 8802 | 74487 |
|  International Consolidated Airlines Group SA | 18234 | 94879 |
|  Japan Airlines Co. Ltd. | 2069 | 41734 |
|  Qantas Airways Ltd. | 10878 | 78602 |
|  Ryanair Holdings plc | 12451 | 361067 |
|  Singapore Airlines Ltd. | 22362 | 113028 |
|  Southwest Airlines Co. | 5459 | 174197 |
|  United Airlines Holdings, Inc.\* | 3365 | 324722 |
|  |  | 1691620 |
|  ***Professional Services (0.5%)*** |  |  |
|  Automatic Data Processing, Inc. | 4210 | 1235635 |
|  Broadridge Financial Solutions, Inc. | 1218 | 290091 |
|  Bureau Veritas SA | 4661 | 145781 |
|  Computershare Ltd. | 7637 | 183388 |
|  Dayforce, Inc.\* | 1660 | 114357 |
|  Equifax, Inc. | 1287 | 330154 |
|  Experian plc | 13480 | 674771 |
|  Intertek Group plc | 2310 | 146699 |
|  Jacobs Solutions, Inc. | 1243 | 186276 |
|  Leidos Holdings, Inc. | 1334 | 252073 |
|  Paychex, Inc. | 3370 | 427181 |
|  Paycom Software, Inc. | 520 | 108233 |
|  Randstad NV | 1592 | 67605 |
|  Recruit Holdings Co. Ltd. | 19521 | 1051126 |
|  RELX plc | 26915 | 1287562 |
|  SGS SA (Registered) | 2428 | 251569 |
|  Teleperformance SE | 791 | 58822 |
|  Verisk Analytics, Inc. | 1452 | 365193 |
|  Wolters Kluwer NV | 3499 | 477144 |
|  |  | 7653660 |
|  ***Trading Companies & Distributors (0.5%)*** |  |  |
|  AddTech AB, Class B | 3814 | 123644 |
|  AerCap Holdings NV | 2588 | 313148 |
|  Ashtead Group plc | 6259 | 417940 |
|  Beijer Ref AB, Class B | 5647 | 87964 |
|  Brenntag SE | 1801 | 107626 |
|  Bunzl plc | 4807 | 151667 |
|  Fastenal Co. | 11930 | 585047 |
|  IMCD NV | 867 | 89575 |
|  ITOCHU Corp. | 17455 | 994528 |
|  Marubeni Corp. | 20754 | 518973 |
|  Mitsubishi Corp. | 47156 | 1125928 |
|  Mitsui & Co. Ltd. | 36213 | 901132 |
|  MonotaRO Co. Ltd. | 3696 | 53884 |
|  Rexel SA | 3290 | 107536 |
|  SGH Ltd. | 2985 | 98620 |
|  Sumitomo Corp. | 15939 | 462159 |
|  Toyota Tsusho Corp. | 10144 | 281372 |
|  United Rentals, Inc. | 669 | 638668 |
|  W.W. Grainger, Inc. | 457 | 435503 |
|  |  | 7494914 |
|  ***Transportation Infrastructure (0.1%)*** |  |  |
|  Aena SME SA(m) | 11001 | 300549 |
|  Aeroports de Paris SA(x) | 508 | 66978 |
|  Auckland International Airport Ltd. | 24766 | 113142 |
|  Getlink SE | 4438 | 81595 |
|  Transurban Group | 45596 | 416358 |
|  |  | 978622 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 104571516 |
|  **Information Technology (14.7%)** |  |  |
|  ***Communications Equipment (0.4%)*** |  |  |
|  Arista Networks, Inc.\* | 10713 | 1560991 |
|  Cisco Systems, Inc. | 41164 | 2816441 |
|  F5, Inc.\* | 597 | 192945 |
|  Motorola Solutions, Inc. | 1732 | 792026 |
|  Nokia OYJ | 76023 | 364070 |
|  Telefonaktiebolaget LM Ericsson, Class B | 41049 | 339401 |
|  |  | 6065874 |
|  ***Electronic Equipment, Instruments & Components (0.5%)*** |  |  |
|  Amphenol Corp., Class A | 12692 | 1570635 |
|  CDW Corp. | 1362 | 216939 |
|  Corning, Inc. | 8103 | 664689 |
|  Halma plc | 5569 | 258396 |
|  Hexagon AB, Class B | 30453 | 361966 |
|  Jabil, Inc. | 1116 | 242362 |
|  Keyence Corp. | 2891 | 1078712 |
|  Keysight Technologies, Inc.\* | 1789 | 312932 |
|  Kyocera Corp. | 18821 | 253199 |
|  Murata Manufacturing Co. Ltd. | 24440 | 465300 |
|  Shimadzu Corp. | 3498 | 88346 |
|  TDK Corp. | 28490 | 413908 |
|  TE Connectivity plc | 3072 | 674396 |
|  Teledyne Technologies, Inc.\* | 487 | 285401 |
|  Trimble, Inc.\* | 2474 | 202002 |
|  Yokogawa Electric Corp. | 3376 | 97136 |
|  Zebra Technologies Corp., Class A\* | 529 | 157198 |
|  |  | 7343517 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC MODERATE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***IT Services (0.5%)*** |  |  |
|  Accenture plc, Class A | 6475 | $1596735 |
|  Akamai Technologies, Inc.\* | 1491 | 112958 |
|  Capgemini SE | 2388 | 346389 |
|  Cognizant Technology Solutions Corp., Class A | 5077 | 340515 |
|  EPAM Systems, Inc.\* | 579 | 87308 |
|  Fujitsu Ltd. | 25859 | 609208 |
|  Gartner, Inc.\* | 787 | 206879 |
|  GoDaddy, Inc., Class A\* | 1439 | 196898 |
|  International Business Machines Corp. | 9683 | 2732155 |
|  NEC Corp. | 19017 | 609403 |
|  Nomura Research Institute Ltd. | 5520 | 211752 |
|  Obic Co. Ltd. | 4744 | 165335 |
|  Otsuka Corp. | 3371 | 70390 |
|  SCSK Corp. | 2344 | 70200 |
|  TIS, Inc. | 3150 | 104031 |
|  VeriSign, Inc. | 874 | 244344 |
|  Wix.com Ltd.\* | 817 | 145124 |
|  |  | 7849624 |
|  ***Semiconductors & Semiconductor Equipment (5.9%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 16870 | 2729397 |
|  Advantest Corp.(x) | 11192 | 1108718 |
|  Analog Devices, Inc. | 5159 | 1267566 |
|  Applied Materials, Inc. | 8342 | 1707941 |
|  ASM International NV | 687 | 411997 |
|  ASML Holding NV | 5776 | 5615605 |
|  BE Semiconductor Industries NV | 1071 | 159502 |
|  Broadcom, Inc. | 48809 | 16102577 |
|  Disco Corp. | 1321 | 415456 |
|  First Solar, Inc.\* | 1115 | 245891 |
|  Infineon Technologies AG | 19159 | 746788 |
|  Intel Corp.\* | 45499 | 1526492 |
|  KLA Corp. | 1372 | 1479839 |
|  Lam Research Corp. | 13156 | 1761589 |
|  Lasertec Corp. | 1149 | 157761 |
|  Microchip Technology, Inc. | 5610 | 360274 |
|  Micron Technology, Inc. | 11633 | 1946434 |
|  Monolithic Power Systems, Inc. | 498 | 458479 |
|  Nova Ltd.\* | 430 | 136249 |
|  NVIDIA Corp. | 253640 | 47324151 |
|  NXP Semiconductors NV | 2621 | 596880 |
|  ON Semiconductor Corp.\* | 4251 | 209617 |
|  QUALCOMM, Inc. | 11211 | 1865062 |
|  Renesas Electronics Corp. | 24655 | 284420 |
|  SCREEN Holdings Co. Ltd.(x) | 1166 | 106126 |
|  Skyworks Solutions, Inc. | 1543 | 118780 |
|  STMicroelectronics NV | 10025 | 280711 |
|  Teradyne, Inc. | 1654 | 227657 |
|  Texas Instruments, Inc. | 9451 | 1736432 |
|  Tokyo Electron Ltd. | 6528 | 1163594 |
|  |  | 92251985 |
|  ***Software (4.7%)*** |  |  |
|  Adobe, Inc.\* | 4410 | 1555627 |
|  AppLovin Corp., Class A\* | 2814 | 2021972 |
|  Autodesk, Inc.\* | 2225 | 706816 |
|  Cadence Design Systems, Inc.\* | 2833 | 995120 |
|  Check Point Software Technologies Ltd.\* | 1272 | 263189 |
|  Crowdstrike Holdings, Inc., Class A\* | 2591 | 1270575 |
|  CyberArk Software Ltd.\* | 701 | 338688 |
|  Dassault Systemes SE | 9859 | 330002 |
|  Datadog, Inc., Class A\* | 3360 | 478464 |
|  Fair Isaac Corp.\* | 250 | 374132 |
|  Fortinet, Inc.\* | 6771 | 569306 |
|  Gen Digital, Inc. | 5826 | 165400 |
|  Intuit, Inc. | 2900 | 1980439 |
|  Microsoft Corp. | 77268 | 40020961 |
|  Monday.com Ltd.\* | 596 | 115439 |
|  Nemetschek SE | 847 | 110182 |
|  Nice Ltd.\* | 928 | 136726 |
|  Oracle Corp. | 552 | 56363 |
|  Oracle Corp. (Moscow Stock Exchange) | 17227 | 4844921 |
|  Palantir Technologies, Inc., Class A\* | 23641 | 4312591 |
|  Palo Alto Networks, Inc.\* | 6943 | 1413734 |
|  PTC, Inc.\* | 1245 | 252760 |
|  Roper Technologies, Inc. | 1119 | 558034 |
|  Sage Group plc (The) | 14200 | 210073 |
|  Salesforce, Inc. | 9938 | 2355306 |
|  SAP SE | 15314 | 4097506 |
|  ServiceNow, Inc.\* | 2162 | 1989645 |
|  Synopsys, Inc.\* | 1924 | 949282 |
|  Trend Micro, Inc. | 1819 | 99631 |
|  Tyler Technologies, Inc.\* | 450 | 235422 |
|  WiseTech Global Ltd. | 2946 | 175930 |
|  Workday, Inc., Class A\* | 2245 | 540439 |
|  Xero Ltd.\* | 2415 | 251686 |
|  |  | 73776361 |
|  ***Technology Hardware, Storage & Peripherals (2.7%)*** |  |  |
|  Apple, Inc. | 154266 | 39280752 |
|  Canon, Inc.(x) | 12695 | 372304 |
|  Dell Technologies, Inc., Class C | 3152 | 446859 |
|  FUJIFILM Holdings Corp. | 16462 | 409755 |
|  Hewlett Packard Enterprise Co. | 13641 | 335023 |
|  HP, Inc. | 9764 | 265874 |
|  Logitech International SA (Registered) | 2231 | 243208 |
|  NetApp, Inc. | 2080 | 246397 |
|  Seagate Technology Holdings plc | 2211 | 521929 |
|  Super Micro Computer, Inc.(x)\* | 5211 | 249815 |
|  Western Digital Corp. | 3606 | 432936 |
|  |  | 42804852 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 230092213 |
|  **Materials (1.7%)** |  |  |
|  ***Chemicals (0.8%)*** |  |  |
|  Air Liquide SA | 8483 | 1761431 |
|  Air Products and Chemicals, Inc. | 2313 | 630801 |
|  Akzo Nobel NV | 2506 | 178295 |
|  Albemarle Corp.(x) | 1223 | 99161 |
|  Arkema SA | 837 | 52672 |
|  Asahi Kasei Corp. | 18000 | 141739 |
|  BASF SE | 13093 | 651612 |
|  CF Industries Holdings, Inc. | 1684 | 151055 |
|  Corteva, Inc. | 7059 | 477400 |
|  Covestro AG\* | 2634 | 180290 |
|  Dow, Inc. | 7368 | 168948 |
|  DSM-Firmenich AG | 2728 | 232268 |
|  DuPont de Nemours, Inc. | 4353 | 339099 |
|  Eastman Chemical Co. | 1194 | 75282 |
|  Ecolab, Inc. | 2653 | 726551 |
|  EMS-Chemie Holding AG (Registered) | 103 | 72781 |
|  Evonik Industries AG | 3760 | 65201 |
|  Givaudan SA (Registered) | 135 | 548106 |
|  ICL Group Ltd. | 11361 | 71002 |
|  International Flavors & Fragrances, Inc. | 2664 | 163943 |
|  Linde plc | 4874 | 2315150 |
|  LyondellBasell Industries NV, Class A | 2675 | 131182 |
|  Mitsubishi Chemical Group Corp. | 18751 | 107940 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC MODERATE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Mosaic Co. (The) | 3299 | $114409 |
|  Nippon Paint Holdings Co. Ltd.(x) | 13905 | 94966 |
|  Nippon Sanso Holdings Corp.(x) | 2585 | 91716 |
|  Nitto Denko Corp.(x) | 10340 | 245906 |
|  Novonesis Novozymes B | 5198 | 318107 |
|  PPG Industries, Inc. | 2346 | 246588 |
|  Sherwin-Williams Co. (The) | 2410 | 834487 |
|  Shin-Etsu Chemical Co. Ltd. | 24732 | 811606 |
|  Sika AG (Registered) | 2236 | 497451 |
|  Syensqo SA | 1067 | 86061 |
|  Symrise AG, Class A | 1948 | 169333 |
|  Toray Industries, Inc. | 20297 | 129741 |
|  Yara International ASA | 2429 | 88743 |
|  |  | 13071023 |
|  ***Construction Materials (0.2%)*** |  |  |
|  Amrize Ltd.\* | 7484 | 360920 |
|  Heidelberg Materials AG | 1963 | 441458 |
|  Holcim AG | 7484 | 633092 |
|  James Hardie Industries plc (CHDI)\* | 8490 | 157749 |
|  Martin Marietta Materials, Inc. | 627 | 395185 |
|  Vulcan Materials Co. | 1373 | 422362 |
|  |  | 2410766 |
|  ***Containers & Packaging (0.1%)*** |  |  |
|  Amcor plc | 23964 | 196026 |
|  Avery Dennison Corp. | 811 | 131520 |
|  Ball Corp. | 2829 | 142638 |
|  International Paper Co. | 5488 | 254643 |
|  Packaging Corp. of America | 929 | 202457 |
|  SIG Group AG | 4487 | 46248 |
|  Smurfit WestRock plc | 5428 | 231070 |
|  |  | 1204602 |
|  ***Metals & Mining (0.6%)*** |  |  |
|  Anglo American plc | 16417 | 614906 |
|  Antofagasta plc | 5786 | 214072 |
|  ArcelorMittal SA | 6880 | 247009 |
|  BHP Group Ltd. | 74439 | 2094870 |
|  BlueScope Steel Ltd. | 6435 | 96615 |
|  Boliden AB\* | 4170 | 169512 |
|  Evolution Mining Ltd. | 29378 | 210529 |
|  Fortescue Ltd. | 24839 | 307024 |
|  Freeport-McMoRan, Inc. | 14925 | 585358 |
|  Fresnillo plc | 3243 | 102932 |
|  Glencore plc | 148711 | 683205 |
|  JFE Holdings, Inc.(x) | 8457 | 103879 |
|  Newmont Corp. | 11418 | 962652 |
|  Nippon Steel Corp.(x) | 70890 | 292169 |
|  Norsk Hydro ASA | 20319 | 137638 |
|  Northern Star Resources Ltd. | 19906 | 312567 |
|  Nucor Corp. | 2386 | 323136 |
|  Rio Tinto Ltd. | 5445 | 439669 |
|  Rio Tinto plc | 16556 | 1088259 |
|  South32 Ltd. | 66072 | 119792 |
|  Steel Dynamics, Inc. | 1438 | 200500 |
|  Sumitomo Metal Mining Co. Ltd.(x) | 3646 | 117527 |
|  |  | 9423820 |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Holmen AB, Class B | 1118 | 42443 |
|  Mondi plc | 6476 | 89186 |
|  Stora Enso OYJ, Class R | 8545 | 93661 |
|  Svenska Cellulosa AB SCA, Class B | 8913 | 117727 |
|  UPM-Kymmene OYJ | 7743 | 211540 |
|  |  | 554557 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 26664768 |
|  **Real Estate (1.1%)** |  |  |
|  ***Diversified REITs (0.0%)†*** |  |  |
|  CapitaLand Integrated Commercial |  |  |
|  Trust (REIT) | 85580 | 151927 |
|  Covivio SA (REIT) | 819 | 55000 |
|  Land Securities Group plc (REIT) | 10382 | 81263 |
|  Stockland (REIT) | 35209 | 142583 |
|  |  | 430773 |
|  ***Health Care REITs (0.1%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) | 1618 | 134844 |
|  Healthpeak Properties, Inc. (REIT) | 7264 | 139106 |
|  Ventas, Inc. (REIT) | 4724 | 330633 |
|  Welltower, Inc. (REIT) | 6952 | 1238429 |
|  |  | 1843012 |
|  ***Hotel & Resort REITs (0.0%)†*** |  |  |
|  Host Hotels & Resorts, Inc. (REIT) | 6647 | 113132 |
|  ***Industrial REITs (0.1%)*** |  |  |
|  CapitaLand Ascendas REIT (REIT) | 57665 | 124722 |
|  Goodman Group (REIT) | 29797 | 646313 |
|  Prologis, Inc. (REIT) | 9647 | 1104774 |
|  Segro plc (REIT) | 18865 | 166285 |
|  |  | 2042094 |
|  ***Office REITs (0.0%)†*** |  |  |
|  BXP, Inc. (REIT) | 1531 | 113815 |
|  Gecina SA (REIT) | 675 | 67599 |
|  Nippon Building Fund, Inc. (REIT) | 114 | 107536 |
|  |  | 288950 |
|  ***Real Estate Management & Development (0.3%)*** |  |  |
|  Azrieli Group Ltd. | 623 | 61826 |
|  CapitaLand Investment Ltd. | 33918 | 70731 |
|  CBRE Group, Inc., Class A\* | 3047 | 480085 |
|  CK Asset Holdings Ltd. | 28118 | 136291 |
|  CoStar Group, Inc.\* | 4404 | 371565 |
|  Daito Trust Construction Co. Ltd.(x) | 4200 | 92159 |
|  Daiwa House Industry Co. Ltd. | 8242 | 296497 |
|  Fastighets AB Balder, Class B\* | 10534 | 75348 |
|  Henderson Land Development Co. Ltd. | 20839 | 73481 |
|  Hongkong Land Holdings Ltd. | 16030 | 101470 |
|  Hulic Co. Ltd. | 6710 | 73504 |
|  LEG Immobilien SE | 1109 | 88147 |
|  Mitsubishi Estate Co. Ltd. | 15555 | 357938 |
|  Mitsui Fudosan Co. Ltd. | 38723 | 422357 |
|  Sagax AB, Class B | 3224 | 67224 |
|  Sino Land Co. Ltd. | 54205 | 68610 |
|  Sumitomo Realty & Development Co. Ltd. | 4540 | 200529 |
|  Sun Hung Kai Properties Ltd. | 21288 | 254954 |
|  Swiss Prime Site AG (Registered) | 1177 | 164563 |
|  Vonovia SE | 11032 | 343879 |
|  Wharf Holdings Ltd. (The) | 15346 | 43897 |
|  Wharf Real Estate Investment Co. Ltd. | 24960 | 73771 |
|  |  | 3918826 |
|  ***Residential REITs (0.1%)*** |  |  |
|  AvalonBay Communities, Inc. (REIT) | 1478 | 285505 |
|  Camden Property Trust (REIT) | 1111 | 118633 |
|  Equity Residential (REIT) | 3613 | 233870 |
|  Essex Property Trust, Inc. (REIT) | 669 | 179065 |
|  Invitation Homes, Inc. (REIT) | 5862 | 171932 |
|  Mid-America Apartment Communities, Inc. (REIT) | 1217 | 170051 |
|  UDR, Inc. (REIT) | 3134 | 116773 |
|  |  | 1275829 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC MODERATE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***Retail REITs (0.2%)*** |  |  |
|  Federal Realty Investment Trust (REIT) | 816 | $82669 |
|  Kimco Realty Corp. (REIT) | 7040 | 153824 |
|  Klepierre SA (REIT) | 3156 | 122868 |
|  Link REIT (REIT) | 38101 | 195843 |
|  Realty Income Corp. (REIT) | 9504 | 577748 |
|  Regency Centers Corp. (REIT) | 1699 | 123857 |
|  Scentre Group (REIT) | 76421 | 206316 |
|  Simon Property Group, Inc. (REIT) | 3394 | 636952 |
|  Unibail-Rodamco-Westfield (REIT) | 1786 | 187543 |
|  Vicinity Ltd. (REIT) | 58250 | 97131 |
|  |  | 2384751 |
|  ***Specialized REITs (0.3%)*** |  |  |
|  American Tower Corp. (REIT) | 4867 | 936021 |
|  Crown Castle, Inc. (REIT) | 4527 | 436810 |
|  Digital Realty Trust, Inc. (REIT) | 3333 | 576209 |
|  Equinix, Inc. (REIT) | 1017 | 796555 |
|  Extra Space Storage, Inc. (REIT) | 2206 | 310914 |
|  Iron Mountain, Inc. (REIT) | 3070 | 312956 |
|  Public Storage (REIT) | 1641 | 474003 |
|  SBA Communications Corp. (REIT) | 1116 | 215778 |
|  VICI Properties, Inc. (REIT), Class A | 11085 | 361482 |
|  Weyerhaeuser Co. (REIT) | 7500 | 185925 |
|  |  | 4606653 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 16904020 |
|  **Utilities (1.5%)** |  |  |
|  ***Electric Utilities (0.9%)*** |  |  |
|  Acciona SA | 362 | 72634 |
|  Alliant Energy Corp. | 2671 | 180052 |
|  American Electric Power Co., Inc. | 5559 | 625388 |
|  BKW AG | 310 | 66163 |
|  Chubu Electric Power Co., Inc. | 10044 | 139808 |
|  CK Infrastructure Holdings Ltd. | 9037 | 59341 |
|  CLP Holdings Ltd. | 24062 | 199281 |
|  Constellation Energy Corp. | 3247 | 1068490 |
|  Contact Energy Ltd. | 12604 | 66495 |
|  Duke Energy Corp. | 8083 | 1000271 |
|  Edison International | 4000 | 221120 |
|  EDP SA | 46040 | 218213 |
|  Elia Group SA/NV, Class B | 640 | 73749 |
|  Endesa SA | 4660 | 148868 |
|  Enel SpA | 119300 | 1129758 |
|  Entergy Corp. | 4640 | 432402 |
|  Evergy, Inc. | 2392 | 181840 |
|  Eversource Energy | 3812 | 271186 |
|  Exelon Corp. | 10499 | 472560 |
|  FirstEnergy Corp. | 5402 | 247520 |
|  Fortum OYJ | 6582 | 124453 |
|  Iberdrola SA | 93082 | 1760001 |
|  Kansai Electric Power Co., Inc. (The) | 13897 | 199079 |
|  NextEra Energy, Inc. | 21406 | 1615939 |
|  NRG Energy, Inc. | 2011 | 325681 |
|  Origin Energy Ltd. | 25276 | 209064 |
|  PG&E Corp. | 22847 | 344533 |
|  Pinnacle West Capital Corp. | 1241 | 111268 |
|  Power Assets Holdings Ltd. | 20375 | 129027 |
|  PPL Corp.(x) | 7687 | 285649 |
|  Redeia Corp. SA | 5954 | 114920 |
|  Southern Co. (The) | 11435 | 1083695 |
|  SSE plc | 16231 | 380153 |
|  Terna - Rete Elettrica Nazionale | 20643 | 209350 |
|  Verbund AG | 999 | 72601 |
|  Xcel Energy, Inc. | 6148 | 495836 |
|  |  | 14336388 |
|  ***Gas Utilities (0.1%)*** |  |  |
|  APA Group | 19138 | 112453 |
|  Atmos Energy Corp. | 1669 | 284982 |
|  Hong Kong & China Gas Co. Ltd. | 164641 | 143020 |
|  Osaka Gas Co. Ltd. | 5218 | 151334 |
|  Snam SpA | 29586 | 177776 |
|  Tokyo Gas Co. Ltd. | 4621 | 164485 |
|  |  | 1034050 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  AES Corp. (The) | 7402 | 97410 |
|  EDP Renovaveis SA | 4626 | 60829 |
|  Meridian Energy Ltd. | 19185 | 61952 |
|  Orsted A/S(m)(x)\* | 2467 | 44059 |
|  RWE AG | 9274 | 411790 |
|  Vistra Corp. | 3314 | 649279 |
|  |  | 1325319 |
|  ***Multi-Utilities (0.4%)*** |  |  |
|  Ameren Corp. | 2811 | 293412 |
|  CenterPoint Energy, Inc. | 6787 | 263336 |
|  Centrica plc | 71244 | 159630 |
|  CMS Energy Corp. | 3112 | 227985 |
|  Consolidated Edison, Inc. | 3749 | 376849 |
|  Dominion Energy, Inc. | 8871 | 542639 |
|  DTE Energy Co. | 2158 | 305206 |
|  E.ON SE | 32935 | 619257 |
|  Engie SA | 26794 | 574257 |
|  National Grid plc | 71908 | 1032369 |
|  NiSource, Inc. | 4895 | 211954 |
|  Public Service Enterprise Group, Inc. | 5188 | 432991 |
|  Sembcorp Industries Ltd. | 12824 | 59848 |
|  Sempra | 6782 | 610244 |
|  Veolia Environnement SA | 9236 | 314245 |
|  WEC Energy Group, Inc. | 3346 | 383418 |
|  |  | 6407640 |
|  ***Water Utilities (0.0%)†*** |  |  |
|  American Water Works Co., Inc. | 2028 | 282277 |
|  Severn Trent plc | 3971 | 138215 |
|  United Utilities Group plc | 10004 | 154254 |
|  |  | 574746 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 23678143 |
|  **Total Common Stocks (56.2%)**<br> *(Cost $327,665,973)* |  | 879410906 |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (3.9%)** |  |  |
|  SPDR S&P MidCap 400 ETF Trust(x) | 102728 | 61228970 |
|  **Total Exchange Traded Funds (3.9%)<br>(***Cost $51,539,809)* |  | 61228970 |
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **U.S. Government Agency Securities (2.5%)** |  |  |
|  FHLB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/16/28 | $5940000 | 5870467 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 12/8/28 | 3125000 | 3223142 |
|  FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 3/15/31 | 2759000 | 3149958 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7/15/32 | 5522000 | 6267503 |
|  FNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 9/24/26 | 8398000 | 8251424 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC MODERATE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 5/15/30 | $10000000 | $11488188 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Government Agency Securities** |  | 38250682 |
|  **U.S. Treasury Obligations (36.7%)** |  |  |
|  U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 11/15/27 | 18708100 | 19655175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 11/15/28 | 8782400 | 9193546 |
|  U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/15/26# | 31587200 | 30992182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 12/31/26 | 8201200 | 7958051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 1/31/27 | 6580200 | 6394867 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 2/15/27 | 12890700 | 12646091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/28/27 | 6847700 | 6679166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/27 | 26341100 | 25814652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/15/27 | 24314100 | 23714767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 11/15/27 | 24429600 | 23754131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/31/27 | 9807700 | 9863253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 2/15/28 | 5963500 | 5846030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/29/28 | 9855300 | 9944181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/30/28 | 18603400 | 18553939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/28 | 8942200 | 8775979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5/31/28 | 7186600 | 7188933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/30/28 | 4387500 | 4431372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 8/15/28 | 1412600 | 1383742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/31/28 | 7191400 | 7339554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/28 | 6018300 | 6188846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/28 | 1409600 | 1460146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 11/15/28 | 3406400 | 3355169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/28 | 6858800 | 7008823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/28 | 9966000 | 10000304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/31/29 | 10533900 | 10649108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 2/15/29 | 7103500 | 6875488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/28/29 | 9177000 | 9354047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/31/29 | 8120500 | 8245415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/30/29 | 9507600 | 9811429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/29 | 9798200 | 9373705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/31/29 | 8577000 | 8819051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 6/30/29 | 5912400 | 6031260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 8/15/29 | 14741600 | 13678047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/30/29 | 5904300 | 5864551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 11/15/29 | 9426900 | 8745645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 2/15/30 | 9471600 | 8639127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 5/15/30 | 8669500 | 7538237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 8/15/30 | 15094900 | 13016254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 8/31/30 | 5400800 | 5493200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/30 | 10364200 | 10775595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/30 | 5071300 | 5332402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 11/15/30 | 8067900 | 6997758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/30 | 4812800 | 4950427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/30 | 6164200 | 6159391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 5/15/31 | 13136200 | 11699718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 8/15/31 | 7053800 | 6102577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 11/15/31 | 9648000 | 8351371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/15/32 | 11983700 | 10632410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/32 | 11419200 | 10735231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 8/15/32 | 10241500 | 9522176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/32 | 9730200 | 9843481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/15/33 | 9499900 | 9223813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 5/15/33 | 7338500 | 7049642 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/33 | 9333000 | 9257953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/33 | 2487200 | 2571334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/15/34 | 7649700 | 7629201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/15/34 | 8995400 | 9203508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/34 | 11358100 | 11185366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/15/34 | 2403000 | 2430274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/15/35 | 9890100 | 10278554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/35 | 4302600 | 4342180 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 574551825 |
|  **Total Long-Term Debt Securities (39.2%)**<br> *(Cost $622,095,772)* |  | 612802507 |
|  | **Number of<br>Rights** | **Value<br>(Note 1)** |
|  RIGHTS: |  |  |
|  **Financials (0.0%)†** |  |  |
|  ***Financial Services (0.0%)†*** |  |  |
|  Sofina SA, expiring 10/2/25(x)\* | 226 | 504 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 504 |
|  **Utilities (0.0%)†** |  |  |
|  ***Independent Power and Renewable Electricity Producers (0.0%)†*** |  |  |
|  Orsted A/S, expiring 10/2/25(x)\* | 37005 | 36842 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 36842 |
|  **Total Rights (0.0%)†<br>(***Cost $48,966***)** |  | 37346 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (2.5%)** |  |  |
|  Allspring Government Money Market Fund, Select Shares 4.07% (7 day yield) (xx) | 1000000 | 1000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 36703777 | 36703777 |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 2000000 | 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 39703777 |
|  **Total Short-Term Investments (2.5%)**<br> *(Cost $39,703,777)* |  | 39703777 |
|  **Total Investments in Securities (101.8%)**<br> *(Cost $1,041,054,297)* |  | 1593183506 |
|  **Other Assets Less Liabilities (-1.8%)** |  | (27828803) |
|  **Net Assets (100%)** |  | $1565354703 |

---

*\** *Non-income producing.* 

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

*#* *All, or a portion of security held by broker as collateral for financial futures contracts, with a total collateral value of $14,717,441.* 

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $3,281,252 or 0.2% of net assets.* 

*(q)* *Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $43,418,596. This was collateralized by $4,857,492 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.000%, maturing 10/9/25 – 5/15/55 and by cash of $39,703,777 which was subsequently invested in investment companies.* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC MODERATE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*Glossary:* 

*ADR — American Depositary Receipt* 

*AUD — Australian Dollar* 

*CHDI — Clearing House Electronic Subregister System (CHESS) Depository Interest* 

*CHF — Swiss Franc* 

*CVA — Dutch Certification* 

*EUR — European Currency Unit* 

*FHLB — Federal Home Loan Bank* 

*FHLMC — Federal Home Loan Mortgage Corp.* 

*FNMA — Federal National Mortgage Association* 

*GBP — British Pound* 

*JPY — Japanese Yen* 

*NOK — Norwegian Krone* 

*NZD — New Zealand Dollar* 

*REIT — Real Estate Investment Trust* 

*SEK — Swedish Krona* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC MODERATE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation**<br>**(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  EURO STOXX 50 Index | 216 | 12/2025 | EUR | 14051688 | 115927 |
|  FTSE 100 Index | 106 | 12/2025 | GBP | 13411276 | 99732 |
|  MSCI EAFE E-Mini Index | 6 | 12/2025 | USD | 835590 | 824 |
|  Russell 2000 E-Mini Index | 520 | 12/2025 | USD | 63843000 | 365156 |
|  S&P 500 E-Mini Index | 4 | 12/2025 | USD | 1347750 | 5582 |
|  SPI 200 Index | 8 | 12/2025 | AUD | 1174253 | (4170) |
|  TOPIX Index | 24 | 12/2025 | JPY | 5097474 | (15968) |
|  |  |  |  |  | 567083 |
|  **Short Contracts** |  |  |  |  |  |
|  U.S. Treasury 2 Year Note | (150) | 12/2025 | USD | (31259766) | 4437 |
|  U.S. Treasury 5 Year Note | (112) | 12/2025 | USD | (12229875) | (24517) |
|  U.S. Treasury 10 Year Note | (229) | 12/2025 | USD | (25762500) | (115787) |
|  |  |  |  |  | (135867) |
|  |  |  |  |  | 431216 |

---

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation) ($)** |
| USD | 4480015 | JPY | 656846382 | JPMorgan Chase Bank | 10/30/2025 | 24022 |
| USD | 775354 | NZD | 1306396 | JPMorgan Chase Bank | 11/7/2025 | 16867 |
| SEK | 83955566 | USD | 8945480 | Barclays Bank plc | 11/20/2025 | 668 |
| SEK | 71795834 | USD | 7623764 | HSBC Bank plc | 11/20/2025 | 26666 |
| USD | 16369142 | CHF | 12882302 | Barclays Bank plc | 11/21/2025 | 87952 |
| USD | 34170005 | GBP | 25019077 | Goldman Sachs Bank USA | 12/5/2025 | 517013 |
|  **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** |  |  | 673188 |
| JPY | 2406915552 | USD | 16353756 | JPMorgan Chase Bank | 10/30/2025 | (25433) |
| JPY | 894541044 | USD | 6109502 | Morgan Stanley | 10/30/2025 | (41007) |
| USD | 7961120 | JPY | 1177183725 | HSBC Bank plc | 10/30/2025 | (24800) |
| USD | 1725401 | AUD | 2613226 | Bank of America | 11/7/2025 | (4678) |
| USD | 1312586 | AUD | 2027424 | Morgan Stanley | 11/7/2025 | (29664) |
| USD | 43642 | NOK | 438237 | JPMorgan Chase Bank | 11/20/2025 | (281) |
| CHF | 11168168 | USD | 14211776 | JPMorgan Chase Bank | 11/21/2025 | (96981) |
| EUR | 1974172 | USD | 2332978 | HSBC Bank plc | 11/21/2025 | (8222) |
| EUR | 17617419 | USD | 20787744 | Societe Generale | 11/21/2025 | (41736) |
|  **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** |  |  | (272802) |
|  **Net unrealized appreciation** | **Net unrealized appreciation** | **Net unrealized appreciation** | **Net unrealized appreciation** |  |  | 400386 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB DYNAMIC MODERATE GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $61643595 | $12541273 | $— | $74184868 |
|  Consumer Discretionary | 63479436 | 28300330 |  | 91779766 |
|  Consumer Staples | 29412009 | 21342603 |  | 50754612 |
|  Energy | 17126538 | 9095952 |  | 26222490 |
|  Financials | 80458706 | 70635732 |  | 151094438 |
|  Health Care | 52884464 | 30579608 | — (a) | 83464072 |
|  Industrials | 49799327 | 54772189 |  | 104571516 |
|  Information Technology | 207104778 | 22987435 |  | 230092213 |
|  Materials | 10521603 | 16143165 |  | 26664768 |
|  Real Estate | 11483915 | 5420105 |  | 16904020 |
|  Utilities | 13925412 | 9752731 |  | 23678143 |
|  **Exchange Traded Funds** | 61228970 |  |  | 61228970 |
|  **Forward Currency Contracts** |  | 673188 |  | 673188 |
|  **Futures** | 591658 |  |  | 591658 |
|  **Rights** |  |  |  |  |
|  Financials |  | 504 |  | 504 |
|  Utilities |  | 36842 |  | 36842 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 39703777 |  |  | 39703777 |
|  **U.S. Government Agency Securities** |  | 38250682 |  | 38250682 |
|  **U.S. Treasury Obligations** |  | 574551825 |  | 574551825 |
|  **Total Assets** | $**699364188** | $**895084164** | $**—** | $**1594448352** |
|  **Liabilities:** |  |  |  |  |
|  **Forward Currency Contracts** | $— | $(272802) | $— | $(272802) |
|  **Futures** | (160442) |  |  | (160442) |
|  **Total Liabilities** | $**(160442)** | $**(272802)** | $**—** | $**(433244)** |
|  **Total** | $**699203746** | $**894811362** | $**—** | $**1594015108** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $593081933 |
|  Aggregate gross unrealized depreciation | (43320593) |
|  Net unrealized appreciation | $549761340 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1044253768 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SHORT DURATION GOVERNMENT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Asset-Backed Securities (4.9%)** |  |  |
|  ACM Auto Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.060%, 2/20/29§ | $608579 | $610546 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.380%, 6/20/29§ | 505715 | 500827 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.010%, 1/22/30§ | 1972139 | 1963209 |
|  Affirm Asset Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-X2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.220%, 12/17/29§ | 377790 | 378281 |
|  Amur Equipment Finance Receivables XI LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 6/21/28§ | 128289 | 128564 |
|  Arivo Acceptance Auto Loan Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.920%, 5/15/29§ | 1090000 | 1091617 |
|  Brex Commercial Charge Card Master Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 7/15/27§ | 1478000 | 1487796 |
|  Carvana Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-N1 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.300%, 1/10/28 | 325475 | 319658 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-N2 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 3/10/28 | 71670 | 69528 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-N3 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.020%, 6/12/28 | 134332 | 129149 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-P3 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.610%, 11/10/27 | 389551 | 389632 |
|  CPS Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-C A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.880%, 2/15/28§ | 244823 | 245424 |
|  Enterprise Fleet Financing LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.560%, 4/22/30§ | 944273 | 950508 |
|  Equify ABS LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.430%, 4/18/33§ | 754109 | 754790 |
|  First Investors Auto Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.470%, 11/15/27§ | 1596881 | 1584212 |
|  Flagship Credit Auto Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.880%, 11/15/28§ | 482145 | 483434 |
|  Ford Credit Auto Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.910%, 10/17/33§ | 1168000 | 1151658 |
|  GLS Auto Receivables Issuer Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 8/16/27§ | 381241 | 381699 |
|  GLS Auto Select Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.580%, 6/17/30§ | 1348224 | 1364704 |
|  Go Mortgage LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.433%, 8/15/26(l) | 706885 | 701606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.435%, 8/15/26(l) | 876000 | 870853 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.638%, 8/15/26(l) | 98000 | 96587 |
|  Goldentree Loan Management US CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-7A ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.425%, 4/20/34(l)§ | 2550000 | 2547736 |
|  Hardee's Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A A23 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.710%, 6/20/48§ | 1311907 | 1308421 |
|  HFX Funding Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.622%, 3/15/35(l) | 21572 | 21476 |
|  LAD Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.210%, 6/15/27§ | 17747 | 17753 |
|  Lendbuzz Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 10/15/30§ | 1872828 | 1875192 |
|  Lobel Automobile Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.060%, 11/15/27§ | 1202821 | 1204860 |
|  Mission Lane Credit Card Master Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 8/15/29§ | 1026000 | 1032220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-B A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.880%, 1/15/30§ | 2373000 | 2396874 |
|  Nelnet Student Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-CA AFX |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.320%, 4/20/62§ | 1089054 | 1017874 |
|  NMEF Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 12/15/31§ | 1472005 | 1481330 |
|  OCCU Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.820%, 4/17/28§ | 2019000 | 2021614 |
|  Oportun Funding Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.260%, 8/15/29§ | 429338 | 429725 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.960%, 8/16/32§ | 752553 | 752425 |
|  Oportun Issuance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.860%, 2/9/32§ | 137714 | 137847 |
|  Pagaya AI Debt Grantor Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.278%, 10/15/31§ | 412003 | 415154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-9 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, 3/15/32§ | 1544207 | 1548851 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.156%, 7/15/32(l)§ | 130048 | 131237 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 3/15/33(l)§ | 775000 | 776814 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-6 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.497%, 4/15/33§ | 520000 | 520325 |
|  Pagaya AI Debt Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.319%, 8/15/31§ | 342865 | 346274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.258%, 10/15/31§ | 427363 | 429606 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SHORT DURATION GOVERNMENT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Prestige Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.870%, 12/15/27§ | $1746000 | $1748277 |
|  Prosper Marketplace Issuance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.120%, 8/15/29§ | 41472 | 41489 |
|  Research-Driven Pagaya Motor Asset Trust VII, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.380%, 11/25/30§ | 66986 | 67005 |
|  Research-Driven Pagaya Motor Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.090%, 6/25/32§ | 443523 | 447479 |
|  Santander Drive Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.410%, 7/15/27 | 82038 | 82085 |
|  Tesla Auto Lease Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 6/21/27§ | 625078 | 627054 |
|  Tricolor Auto Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.360%, 12/15/27§ | 150663 | 145066 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.940%, 2/15/29§ | 1420474 | 1047609 |
|  VFI ABS LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.780%, 6/24/30§ | 1737576 | 1745386 |
|  Wheels Fleet Lease Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.490%, 2/18/39§ | 1689934 | 1707709 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Asset- Backed Securities** |  | 43727049 |
|  **Collateralized Mortgage Obligations (3.7%)** |  |  |
|  Chase Mortgage Finance Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-CL1 M3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.372%, 4/25/47(l)§ | 242674 | 245613 |
|  Connecticut Avenue Securities, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R01 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, 1/25/45(l)§ | 2118068 | 2119400 |
|  Connecticut Avenue Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-R05 2M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.256%, 4/25/42(l)§ | 139462 | 139768 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-R02 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.656%, 1/25/43(l)§ | 730131 | 743368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-R05 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.256%, 6/25/43(l)§ | 1081552 | 1089608 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R02 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, 2/25/44(l)§ | 432736 | 432468 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R03 2M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.506%, 3/25/44(l)§ | 912741 | 913015 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R04 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, 5/25/44(l)§ | 771786 | 772262 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R05 2M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, 7/25/44(l)§ | 322821 | 322770 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R06 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.406%, 9/25/44(l)§ | 480231 | 479933 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R02 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, 2/25/45(l)§ | 563671 | 564368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R03 2M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.956%, 3/25/45(l)§ | 1556995 | 1563569 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R04 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, 5/25/45(l)§ | 585770 | 586405 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R04 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.556%, 5/25/45(l)§ | 965802 | 968038 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R05 2M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.556%, 7/25/45(l)§ | 2099591 | 2105964 |
|  FHLMC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 3305 FT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.887%, 7/15/34(l) | 29647 | 29431 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 3349 FE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.977%, 7/15/37(l) | 600583 | 597385 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 3807 FM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.987%, 2/15/41(l) | 20413 | 20304 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 3927 FH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.937%, 9/15/41(l) | 23741 | 23539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4087 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.957%, 7/15/42(l) | 573324 | 567155 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4286 VF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.937%, 12/15/43(l) | 472053 | 469178 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4350 KF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 1/15/39(l) | 145899 | 142258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4457 BA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/15/39 | 1890664 | 1815691 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4459 CA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/34 | 139688 | 141375 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4483 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/15/29 | 32442 | 32090 |
|  FHLMC STACR REMIC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-HQA2 M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.406%, 12/25/33(l)§ | 955683 | 978983 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-DNA7 M1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.856%, 3/25/52(l)§ | 910124 | 919507 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-DNA1 M1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.448%, 3/25/43(l)§ | 792488 | 803707 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-DNA2 M1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.448%, 4/25/43(l)§ | 528667 | 535923 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-HQA2 M1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.356%, 6/25/43(l)§ | 539662 | 542059 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-DNA3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.406%, 10/25/44(l)§ | 1284069 | 1286611 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-HQA1 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.606%, 3/25/44(l)§ | 1003977 | 1004940 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-HQA2 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.556%, 8/25/44(l)§ | 1481769 | 1482687 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DNA1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, 1/25/45(l)§ | 1120635 | 1121334 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DNA2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, 5/25/45(l)§ | 547797 | 549158 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DNA2 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.556%, 5/25/45(l)§ | 571312 | 572073 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DNA3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.320%, 9/25/45(l)§ | 2175074 | 2176433 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-HQA1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, 2/25/45(l)§ | 1405651 | 1406087 |
|  FNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-42 CF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.921%, 6/25/36(l) | 26793 | 26662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-109 GF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.151%, 12/25/37(l) | 44684 | 44698 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2010-39 FT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.421%, 10/25/35(l) | 960193 | 968425 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SHORT DURATION GOVERNMENT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2011-53 FT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.051%, 6/25/41(l) | $95575 | $95212 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2011-86 KF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.021%, 9/25/41(l) | 101434 | 100946 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2011-86 NF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.021%, 9/25/41(l) | 39345 | 39221 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2012-65 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.921%, 6/25/42(l) | 21292 | 21042 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-121 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.871%, 12/25/43(l) | 312000 | 309294 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-49 AF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.780%, 8/25/44(l) | 923442 | 903299 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C02 1M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.471%, 9/25/28(l) | 55707 | 56352 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** |  | 32829608 |
|  **Commercial Mortgage-Backed Securities (0.9%)** |  |  |
|  BBCMS Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-BID A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.405%, 10/15/37(l)§ | 3190000 | 3189257 |
|  BHMS Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-ATLS A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/15/42(l)§ | 1475000 | 1478690 |
|  CLNY Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-IKPR D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.613%, 11/15/38(l)§ | 1232000 | 1188876 |
|  GS Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2011-GC5 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.209%, 8/10/44(l)§ | 1089418 | 1056618 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2011-GC5 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.314%, 8/10/44(l)§ | 49051 | 39022 |
|  UBS-Barclays Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-C5 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.649%, 3/10/46(l)§ | 1033347 | 965166 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Mortgage- Backed Securities** |  | 7917629 |
|  **Corporate Bonds (8.3%)** |  |  |
|  **Consumer Discretionary (0.4%)** |  |  |
|  ***Automobiles (0.3%)*** |  |  |
|  BMW US Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 8/13/27§ | 1419000 | 1431816 |
|  Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 9/21/26§ | 1420000 | 1441863 |
|  |  | 2873679 |
|  ***Hotels, Restaurants & Leisure (0.1%)*** |  |  |
|  McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/17/29 | 880000 | 906159 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 3779838 |
|  **Consumer Staples (0.7%)** |  |  |
|  ***Beverages (0.2%)*** |  |  |
|  Keurig Dr Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 3/15/29 | 1409000 | 1433454 |
|  ***Food Products (0.2%)*** |  |  |
|  Campbell's Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 3/20/26 | 1401000 | 1407615 |
|  ***Tobacco (0.3%)*** |  |  |
|  Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 2/4/28 | 1403000 | 1424350 |
|  Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 2/13/26 | 1517000 | 1519967 |
|  |  | 2944317 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 5785386 |
|  **Energy (0.2%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (0.2%)*** |  |  |
|  Continental Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 1/15/28 | 1426000 | 1417606 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 1417606 |
|  **Financials (4.6%)** |  |  |
|  ***Banks (2.8%)*** |  |  |
|  Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.25%), 5.552%, 3/14/28(k) | 400000 | 407130 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.00%), 4.175%, 3/24/28(k) | 600000 | 599106 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.95%), 5.365%, 7/15/28(k) | 400000 | 408055 |
|  Bank of Montreal Series f2f |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.88%), 4.567%, 9/10/27(k) | 1466000 | 1471151 |
|  Banque Federative du Credit Mutuel SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.591%, 10/16/28§ | 1293000 | 1304096 |
|  Barclays plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.05%), 7.325%, 11/2/26(k) | 986000 | 988182 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.49%), 5.674%, 3/12/28(k) | 372000 | 379034 |
|  CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.14%), 4.634%, 7/3/29(k)§ | 1297000 | 1305349 |
|  Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.14%), 4.643%, 5/7/28(k) | 1299000 | 1306562 |
|  HSBC Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.11%), 4.755%, 6/9/28(k) | 1051000 | 1059669 |
|  ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.01%), 4.858%, 3/25/29(k) | 1374000 | 1391719 |
|  JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.19%), 5.040%, 1/23/28(k) | 1396000 | 1411402 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/AB SHORT DURATION GOVERNMENT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Lloyds Banking Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 5.087%, 11/26/28(k) | $568000 | $577759 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.70%), 5.871%, 3/6/29(k) | 810000 | 840159 |
|  Morgan Stanley Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.87%), 5.504%, 5/26/28(k) | 467000 | 477287 |
|  NatWest Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.85%), 7.472%, 11/10/26(k) | 520000 | 521642 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.35%), 5.847%, 3/2/27(k) | 691000 | 695053 |
|  Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.61%), 5.473%, 3/20/29(k) | 1375000 | 1401404 |
|  Santander UK Group Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.75%), 6.833%, 11/21/26(k) | 1509000 | 1513600 |
|  Skandinaviska Enskilda Banken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/3/30§ | 1308000 | 1308610 |
|  Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.50%), 5.519%, 1/19/28(k)§ | 1392000 | 1410142 |
|  Standard Chartered plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.85%), 6.187%, 7/6/27(k)§ | 502000 | 508493 |
|  Sumitomo Mitsui Trust Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 9/10/27§ | 270000 | 271891 |
|  Toronto-Dominion Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.568%, 12/17/26 | 1429000 | 1436920 |
|  Wells Fargo Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.811%, 1/15/26 | 1396000 | 1397890 |
|  |  | 24392305 |
|  ***Capital Markets (0.6%)*** |  |  |
|  Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.52%), 7.146%, 7/13/27(k) | 542000 | 553509 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.21%), 5.373%, 1/10/29(k) | 231000 | 235894 |
|  Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.32%), 4.937%, 4/23/28(k) | 724000 | 732306 |
|  Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.01%), 5.652%, 4/13/28(k) | 942000 | 962651 |
|  Nomura Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.709%, 1/9/26 | 912000 | 915051 |
|  UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.84%), 4.151%, 12/23/29(k)§ | 2172000 | 2167291 |
|  |  | 5566702 |
|  ***Consumer Finance (0.6%)*** |  |  |
|  Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.96%), 5.737%, 5/15/29(k) | 812000 | 831379 |
|  American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.75%), 5.645%, 4/23/27(k) | 661000 | 666127 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.97%), 5.389%, 7/28/27(k) | 749000 | 756160 |
|  John Deere Capital Corp. Series I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 6/5/30 | 1303000 | 1321859 |
|  Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.40%), 5.019%, 7/29/29(k) | 1312000 | 1319344 |
|  |  | 4894869 |
|  ***Financial Services (0.3%)*** |  |  |
|  Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.29%), 2.972%, 2/16/28(k)§ | 1611000 | 1581630 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.06%), 4.649%, 7/14/29(k)§ | 1293000 | 1303604 |
|  |  | 2885234 |
|  ***Insurance (0.3%)*** |  |  |
|  Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.033%, 7/17/30§ | 1436000 | 1456828 |
|  Met Tower Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 9/16/30§ | 1306000 | 1298525 |
|  |  | 2755353 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 40494463 |
|  **Health Care (0.5%)** |  |  |
|  ***Health Care Providers & Services (0.1%)*** |  |  |
|  Cencora, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/15/27 | 1436000 | 1451718 |
|  ***Pharmaceuticals (0.4%)*** |  |  |
|  Bristol-Myers Squibb Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 2/20/26 | 713000 | 715512 |
|  Eli Lilly & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/28 | 1309000 | 1311238 |
|  Merck & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 9/15/27 | 1306000 | 1309309 |
|  |  | 3336059 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 4787777 |
|  **Industrials (0.7%)** |  |  |
|  ***Aerospace & Defense (0.2%)*** |  |  |
|  Boeing Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 2/1/28 | 1743000 | 1702592 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SHORT DURATION GOVERNMENT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  ***Commercial Services & Supplies (0.1%)*** |  |  |
|  Republic Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 7/15/30 | $1375000 | $1408123 |
|  ***Passenger Airlines (0.1%)*** |  |  |
|  AS Mileage Plan IP Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.021%, 10/20/29§ | 877000 | 877719 |
|  ***Trading Companies & Distributors (0.3%)*** |  |  |
|  Aviation Capital Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 1/30/26§ | 1884000 | 1867516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 9/20/26§ | 623000 | 608609 |
|  |  | 2476125 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 6464559 |
|  **Information Technology (0.6%)** |  |  |
|  ***IT Services (0.2%)*** |  |  |
|  International Business Machines Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 2/10/28 | 1403000 | 1421979 |
|  ***Semiconductors & Semiconductor Equipment (0.2%)*** |  |  |
|  Applied Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/15/31 | 1304000 | 1291450 |
|  Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 7/12/27 | 530000 | 539232 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 2/15/28 | 212000 | 212498 |
|  |  | 2043180 |
|  ***Technology Hardware, Storage & Peripherals (0.2%)*** |  |  |
|  Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 2/1/30 | 1407000 | 1403629 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 4868788 |
|  **Materials (0.2%)** |  |  |
|  ***Metals & Mining (0.2%)*** |  |  |
|  Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.338%, 4/4/27§ | 502000 | 509970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.907%, 4/1/28§ | 686000 | 696567 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.186%, 4/1/30§ | 291000 | 299512 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 1506049 |
|  **Real Estate (0.0%)†** |  |  |
|  ***Specialized REITs (0.0%)†*** |  |  |
|  American Tower Corp. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 2/15/29 | 296000 | 304267 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 304267 |
|  **Utilities (0.4%)** |  |  |
|  ***Electric Utilities (0.3%)*** |  |  |
|  Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 9/30/28§ | 413000 | 412101 |
|  NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.685%, 9/1/27 | 786000 | 794652 |
|  NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.734%, 10/15/30§ | 232000 | 231581 |
|  Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 5/15/29 | 217000 | 223955 |
|  Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 12/30/26§ | 200000 | 201450 |
|  Xcel Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 3/21/28 | 1374000 | 1390067 |
|  |  | 3253806 |
|  ***Multi-Utilities (0.1%)*** |  |  |
|  DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 6/1/28 | 606000 | 616332 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 3870138 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  | 73278871 |
|  **Mortgage-Backed Securities (0.4%)** |  |  |
|  FHLMC UMBS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/1/49 | 549101 | 510604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/1/49 | 2990248 | 2779620 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Mortgage-Backed Securities** |  | 3290224 |
|  **Municipal Bonds (0.0%)†** |  |  |
|  Arizona Salt River Project, Agricultural Improvement & Power District, Revenue Bonds, Series 2010A 4.839%, 1/1/41 | 18000 | 17683 |
|  Bay Area Toll Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.263%, 4/1/49 | 7000 | 7398 |
|  Central Puget Sound Regional Transit Authority 5.491%, 11/1/39 | 6000 | 6196 |
|  City of Chicago, International Airport, Revenue Bonds, Series 2010B 6.395%, 1/1/40 | 6000 | 6708 |
|  City of New York Municipal Water Finance Authority, Water & Sewer System, Revenue Bonds, Series 2010EE 6.011%, 6/15/42 | 6000 | 6295 |
|  City of New York, Municipal Water Finance Authority, Water & Sewer System, Revenue Bonds, Series 2010GG 5.724%, 6/15/42 | 8000 | 8144 |
|  Commonwealth of Massachusetts, General Obligation Bonds, Series 2009E 5.456%, 12/1/39 | 7000 | 7172 |
|  County of Los Angeles Community College District, General Obligation Bonds, Series 2008-E 6.750%, 8/1/49 | 6000 | 6747 |
|  County of Nashville & Davidson Convention Center Authority, Revenue Bonds, Series 2010B 6.731%, 7/1/43 | 6000 | 6462 |
|  Georgia Municipal Electric Authority, Revenue Bonds, Series 2010A 6.637%, 4/1/57 | 36000 | 39453 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SHORT DURATION GOVERNMENT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Los Angeles Community College District |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.600%, 8/1/42 | $31000 | $33869 |
|  Massachusetts Clean Water Trust (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.192%, 8/1/40 | 25000 | 25659 |
|  Metropolitan Transportation Authority, Revenue Bonds, Series 2010A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.668%, 11/15/39 | 8000 | 8769 |
|  Metropolitan Transportation Authority, Revenue Bonds, Series 2010B-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.548%, 11/15/31 | 6000 | 6396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.648%, 11/15/39 | 6000 | 6477 |
|  Metropolitan Washington Airports Authority, Revenue Bonds, Series 2009D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.462%, 10/1/46 | 9000 | 10853 |
|  New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Revenue Bonds, Series 2010B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.561%, 12/15/40 | 31000 | 34405 |
|  North Texas Tollway Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.718%, 1/1/49 | 8000 | 8911 |
|  Ohio State University (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.910%, 6/1/40 | 6000 | 5979 |
|  Pennsylvania Turnpike Commission, Revenue Bonds, Series 2010B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.511%, 12/1/45 | 9000 | 8959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.561%, 12/1/49 | 7000 | 6909 |
|  San Diego County Water Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.138%, 5/1/49 | 6000 | 6266 |
|  San Francisco Bay Area Toll Authority, Subordinate Toll Bridge, Revenue Bonds, Series 2010-S1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.918%, 4/1/40 | 1000 | 1130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.043%, 4/1/50 | 6000 | 6893 |
|  State of California, Various Purposes, General Obligation Bonds, Series 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.350%, 11/1/39 | 6000 | 7051 |
|  State of Georgia, General Obligation Bonds, Series 2009H |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.503%, 11/1/25 | 1000 | 1000 |
|  State of New York Dormitory Authority, Personal Income Tax, Revenue Bonds, Series 2010D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/15/30 | 4613 | 4690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 3/15/40 | 6000 | 6182 |
|  State of New York Urban Development Corp., Personal Income Tax, Revenue Bonds, Series 2009E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.770%, 3/15/39 | 8000 | 8273 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Municipal Bonds** |  | 310929 |
|  **U.S. Government Agency Securities (34.4%)** |  |  |
|  FFCB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/13/26 | 50000000 | 49996760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 1/22/26 | 20000000 | 20006888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 3/5/26 | 12279000 | 12315902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 6/23/26 | 30892000 | 31007335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/14/26 | 10000000 | 10058514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/28/28 | 25000000 | 25313505 |
|  FHLB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 9/11/26 | 20000000 | 19664320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 1/15/27 | 2400000 | 2418261 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 4/9/27 | 10695000 | 10870935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 9/10/27 | 41475000 | 41852468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/30/28 | 40000000 | 40377808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 7/15/36 | 12000 | 13122 |
|  FNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 10/8/27 | 5000000 | 4721161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 5/15/29 | 5000000 | 5430352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 11/15/30 | 26550000 | 30022220 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Government Agency Securities** |  | 304069551 |
|  **U.S. Treasury Obligations (20.9%)** |  |  |
|  U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/31/25 | 38808900 | 38833858 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 11/30/25 | 14762900 | 14780140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/31/25 | 3310600 | 3312780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/31/26 | 22480500 | 22498770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/28/26 | 18816900 | 18868917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 3/31/26 | 15214800 | 15261744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 6/30/26 | 4662500 | 4691043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 7/31/26 | 17358500 | 17444270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/31/27 | 19467200 | 19550062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/29/28 | 9821100 | 9909673 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/28 | 4286400 | 4407868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/28 | 7281100 | 7542187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 4/30/30 | 7975500 | 8028194 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 185129506 |
|  **Total Long-Term Debt Securities (73.5%)**<br> *(Cost $647,980,391)* |  | 650553367 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **U.S. Treasury Obligations (23.8%)** |  |  |
|  U.S. Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.59%, 10/9/25(p) | 21761100 | 21741600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.86%, 10/21/25(p) | 28463900 | 28399976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.92%, 11/12/25(p) | 22186800 | 22083465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.91%, 11/20/25(p) | 17697100 | 17599584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.82%, 12/11/25(p) | 72859200 | 72306344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 12/18/25(p) | 32152900 | 31883825 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SHORT DURATION GOVERNMENT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.79%, 1/15/26(p) | $16518400 | $16334190 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 210348984 |
|  **Total Short-Term Investments (23.8%)**<br> *(Cost $210,294,123)* |  | 210348984 |
|  **Total Investments in Securities (97.3%)**<br> *(Cost $858,274,514)* |  | 860902351 |
|  **Other Assets Less Liabilities (2.7%)** |  | 23883884 |
|  **Net Assets (100%)** |  | $884786235 |

---

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

---

| | |
|:---|:---|
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At September 30, 2025, the market value of these securities amounted to $97,885,318 or 11.1% of net assets.*  |

---

*(k)* *Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of September 30, 2025.* 

*(l)* *Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of September 30, 2025.* 

*(p)* *Yield to maturity.* 

*Glossary:* 

*CLO — Collateralized Loan Obligation* 

*FFCB — Federal Farm Credit Bank* 

*FHLB — Federal Home Loan Bank* 

*FHLMC — Federal Home Loan Mortgage Corp.* 

*FNMA — Federal National Mortgage Association* 

*REIT — Real Estate Investment Trust* 

*REMIC — Real Estate Mortgage Investment Conduit* 

*SOFR — Secured Overnight Financing Rate* 

*STACR — Structured Agency Credit Risk* 

*UMBS — Uniform Mortgage-Backed Securities* 

*USD — United States Dollar* 

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation**<br>**(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  U.S. Treasury 2 Year Note | 732 | 12/2025 | USD | 152547656 | (8017) |
|  |  |  |  |  | (8017) |
|  **Short Contracts** |  |  |  |  |  |
|  U.S. Treasury 5 Year Note | (745) | 12/2025 | USD | (81350508) | (197947) |
|  U.S. Treasury 10 Year Note | (38) | 12/2025 | USD | (4275000) | (19201) |
|  U.S. Treasury 10 Year Ultra Note | (10) | 12/2025 | USD | (1150781) | (10405) |
|  U.S. Treasury Ultra Bond | (4) | 12/2025 | USD | (480250) | (13444) |
|  |  |  |  |  | (240997) |
|  |  |  |  |  | (249014) |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SHORT DURATION GOVERNMENT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Asset-Backed Securities** | $— | $43727049 | $— | $43727049 |
|  **Collateralized Mortgage Obligations** |  | 32829608 |  | 32829608 |
|  **Commercial Mortgage-Backed Securities** |  | 7917629 |  | 7917629 |
|  **Corporate Bonds** |  |  |  |  |
|  Consumer Discretionary |  | 3779838 |  | 3779838 |
|  Consumer Staples |  | 5785386 |  | 5785386 |
|  Energy |  | 1417606 |  | 1417606 |
|  Financials |  | 40494463 |  | 40494463 |
|  Health Care |  | 4787777 |  | 4787777 |
|  Industrials |  | 6464559 |  | 6464559 |
|  Information Technology |  | 4868788 |  | 4868788 |
|  Materials |  | 1506049 |  | 1506049 |
|  Real Estate |  | 304267 |  | 304267 |
|  Utilities |  | 3870138 |  | 3870138 |
|  **Mortgage-Backed Securities** |  | 3290224 |  | 3290224 |
|  **Municipal Bonds** |  | 310929 |  | 310929 |
|  **Short-Term Investments** |  |  |  |  |
|  U.S. Treasury Obligations |  | 210348984 |  | 210348984 |
|  **U.S. Government Agency Securities** | **—** | **304069551** | **—** | **304069551** |
|  **U.S. Treasury Obligations** |  | 185129506 |  | 185129506 |
|  **Total Assets** | $**—** | $**860902351** | $**—** | $**860902351** |
|  **Liabilities:** |  |  |  |  |
|  **Futures** | $(249014) | $— | $— | $(249014) |
|  **Total Liabilities** | $**(249014)** | $**—** | $**—** | $**(249014)** |
|  **Total** | $**(249014)** | $**860902351** | $**—** | $**860653337** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $4664247 |
|  Aggregate gross unrealized depreciation | (2663415) |
|  Net unrealized appreciation | $2000832 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $858652505 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value<br>(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (2.8%)** |  |  |
|  ***Diversified Telecommunication Services (0.3%)*** |  |  |
|  Anterix, Inc.\* | 4730 | $101553 |
|  ATN International, Inc. | 6450 | 96556 |
|  Bandwidth, Inc., Class A\* | 7400 | 123358 |
|  Cogent Communications Holdings, Inc.(x) | 15982 | 612910 |
|  Globalstar, Inc.(x)\* | 16206 | 589736 |
|  IDT Corp., Class B | 5200 | 272012 |
|  Liberty Latin America Ltd., Class A\* | 15260 | 126506 |
|  Liberty Latin America Ltd., Class C\* | 48523 | 409534 |
|  Lumen Technologies, Inc.\* | 339130 | 2075476 |
|  Shenandoah Telecommunications Co. | 24728 | 331850 |
|  Uniti Group, Inc.(x) | 51427 | 314733 |
|  |  | 5054224 |
|  ***Entertainment (1.0%)*** |  |  |
|  AMC Entertainment Holdings, Inc., Class A(x)\* | 145060 | 420674 |
|  Atlanta Braves Holdings, Inc., Class A\* | 4420 | 200977 |
|  Atlanta Braves Holdings, Inc., Class C\* | 14260 | 593074 |
|  Cinemark Holdings, Inc. | 40640 | 1138733 |
|  CuriosityStream, Inc. | 8200 | 43460 |
|  Eventbrite, Inc., Class A\* | 48100 | 121212 |
|  Gaia, Inc., Class A\* | 600 | 3552 |
|  Golden Matrix Group, Inc.(x)\* | 5780 | 6532 |
|  IMAX Corp.\* | 16240 | 531860 |
|  Lionsgate Studios Corp.\* | 72050 | 497145 |
|  Madison Square Garden Entertainment Corp., Class A\* | 14221 | 643358 |
|  Marcus Corp. (The) | 3270 | 50718 |
|  Playstudios, Inc.\* | 15440 | 14863 |
|  Reservoir Media, Inc.(x)\* | 4160 | 33862 |
|  Sphere Entertainment Co.\* | 10111 | 628095 |
|  Starz Entertainment Corp. | 4803 | 70748 |
|  TKO Group Holdings, Inc., Class A | 74866 | 15119937 |
|  Vivid Seats, Inc., Class A\* | 2387 | 39672 |
|  |  | 20158472 |
|  ***Interactive Media & Services (0.9%)*** |  |  |
|  Angi, Inc., Class A\* | 15800 | 256908 |
|  Arena Group Holdings, Inc. (The)\* | 2500 | 13675 |
|  Bumble, Inc., Class A\* | 31400 | 191226 |
|  Cargurus, Inc., Class A\* | 30564 | 1137898 |
|  Cars.com, Inc.\* | 24620 | 300856 |
|  EverQuote, Inc., Class A\* | 9000 | 205830 |
|  fuboTV, Inc.(x)\* | 116682 | 484230 |
|  Getty Images Holdings, Inc.(x)\* | 31390 | 62152 |
|  Grindr, Inc.\* | 12980 | 194960 |
|  MediaAlpha, Inc., Class A\* | 18760 | 213489 |
|  Nextdoor Holdings, Inc.\* | 55050 | 115055 |
|  QuinStreet, Inc.\* | 19950 | 308626 |
|  Reddit, Inc., Class A\* | 47797 | 10992832 |
|  Rumble, Inc.(x)\* | 28700 | 207788 |
|  Shutterstock, Inc. | 2600 | 54210 |
|  Teads Holding Co.\* | 9700 | 16005 |
|  Travelzoo\* | 1000 | 9830 |
|  TripAdvisor, Inc.(x)\* | 42400 | 689424 |
|  TrueCar, Inc.\* | 43110 | 79322 |
|  Vimeo, Inc.\* | 52100 | 403775 |
|  Webtoon Entertainment, Inc.(x)\* | 6500 | 126165 |
|  Yelp, Inc., Class A\* | 22710 | 708552 |
|  Ziff Davis, Inc.\* | 15500 | 590550 |
|  ZipRecruiter, Inc., Class A\* | 29100 | 122802 |
|  |  | 17486160 |
|  ***Media (0.5%)*** |  |  |
|  Advantage Solutions, Inc.\* | 44160 | 67565 |
|  Altice USA, Inc., Class A\* | 95200 | 229432 |
|  AMC Networks, Inc., Class A\* | 21810 | 179714 |
|  Boston Omaha Corp., Class A(x)\* | 7510 | 98231 |
|  Cable One, Inc. | 2160 | 382428 |
|  EchoStar Corp., Class A(x)\* | 48266 | 3685592 |
|  Emerald Holding, Inc.(x) | 5870 | 29878 |
|  Entravision Communications Corp., Class A | 8210 | 19129 |
|  EW Scripps Co. (The), Class A\* | 38625 | 95018 |
|  Gambling.com Group Ltd.\* | 7940 | 64949 |
|  Gannett Co., Inc.\* | 50570 | 208854 |
|  Gray Media, Inc. | 34230 | 197849 |
|  Ibotta, Inc., Class A(x)\* | 5670 | 157909 |
|  iHeartMedia, Inc., Class A\* | 53250 | 152827 |
|  Integral Ad Science Holding Corp.\* | 25000 | 254250 |
|  John Wiley & Sons, Inc., Class A | 14310 | 579126 |
|  Magnite, Inc.\* | 48238 | 1050624 |
|  National CineMedia, Inc. | 6500 | 29315 |
|  Newsmax, Inc., Class B\* | 14500 | 179800 |
|  Nexxen International Ltd.\* | 3300 | 30525 |
|  PubMatic, Inc., Class A\* | 15200 | 125856 |
|  Scholastic Corp. | 6270 | 171673 |
|  Sinclair, Inc. | 14720 | 222272 |
|  Stagwell, Inc., Class A(x)\* | 41500 | 233645 |
|  TechTarget, Inc.\* | 17500 | 101675 |
|  TEGNA, Inc. | 50030 | 1017110 |
|  Thryv Holdings, Inc.\* | 8380 | 101063 |
|  WideOpenWest, Inc.\* | 16450 | 84882 |
|  |  | 9751191 |
|  ***Wireless Telecommunication Services (0.1%)*** |  |  |
|  Gogo, Inc.\* | 25100 | 215609 |
|  Spok Holdings, Inc. | 9640 | 166290 |
|  Telephone and Data Systems, Inc. | 34000 | 1334160 |
|  |  | 1716059 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 54166106 |
|  **Consumer Discretionary (12.9%)** |  |  |
|  ***Automobile Components (0.7%)*** |  |  |
|  Adient plc\* | 30670 | 738534 |
|  American Axle & Manufacturing Holdings, Inc.\* | 47100 | 283071 |
|  Cooper-Standard Holdings, Inc.\* | 6310 | 233028 |
|  Dana, Inc. | 47000 | 941880 |
|  Dorman Products, Inc.\* | 10060 | 1568153 |
|  Fox Factory Holding Corp.\* | 16800 | 408072 |
|  Garrett Motion, Inc. | 46250 | 629925 |
|  Gentherm, Inc.\* | 10230 | 348434 |
|  Goodyear Tire & Rubber Co. (The)\* | 76666 | 573462 |
|  Holley, Inc.\* | 22960 | 72094 |
|  LCI Industries | 8050 | 749858 |
|  Luminar Technologies, Inc., Class A(x)\* | 32353 | 61794 |
|  Modine Manufacturing Co.\* | 17940 | 2550350 |
|  Motorcar Parts of America, Inc.\* | 2060 | 34072 |
|  Patrick Industries, Inc.(x) | 11925 | 1233403 |
|  Phinia, Inc. | 13400 | 770232 |
|  Solid Power, Inc.\* | 64590 | 224127 |
|  Standard Motor Products, Inc. | 9700 | 395954 |
|  Visteon Corp. | 10100 | 1210586 |
|  XPEL, Inc.(m)\* | 7900 | 261253 |
|  |  | 13288282 |
|  ***Automobiles (0.0%)†*** |  |  |
|  Livewire Group, Inc.\* | 7420 | 35245 |
|  Winnebago Industries, Inc. | 11380 | 380547 |
|  |  | 415792 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value<br>(Note 1)** |
|  ***Broadline Retail (0.7%)*** |  |  |
|  Groupon, Inc.(x)\* | 7650 | $178627 |
|  Kohl's Corp. | 39700 | 610189 |
|  Ollie's Bargain Outlet Holdings, Inc.\* | 91259 | 11717656 |
|  Savers Value Village, Inc.\* | 15360 | 203520 |
|  |  | 12709992 |
|  ***Distributors (0.0%)†*** |  |  |
|  A-Mark Precious Metals, Inc. | 1040 | 26905 |
|  GigaCloud Technology, Inc., Class A\* | 15270 | 433668 |
|  Weyco Group, Inc. | 620 | 18656 |
|  |  | 479229 |
|  ***Diversified Consumer Services (1.8%)*** |  |  |
|  Adtalem Global Education, Inc.\* | 12193 | 1883209 |
|  American Public Education, Inc.\* | 4060 | 160248 |
|  Carriage Services, Inc., Class A | 7040 | 313561 |
|  Coursera, Inc.\* | 49050 | 574375 |
|  Duolingo, Inc., Class A\* | 48876 | 15730252 |
|  European Wax Center, Inc., Class A\* | 35820 | 142922 |
|  Frontdoor, Inc.\* | 26610 | 1790587 |
|  Graham Holdings Co., Class B | 1090 | 1283268 |
|  KinderCare Learning Cos., Inc.\* | 20850 | 138444 |
|  Laureate Education, Inc.\* | 48800 | 1539152 |
|  Lincoln Educational Services Corp.\* | 9370 | 220195 |
|  Matthews International Corp., Class A | 11064 | 268634 |
|  McGraw Hill, Inc.\* | 8200 | 102910 |
|  Mister Car Wash, Inc.\* | 35770 | 190654 |
|  Nerdy, Inc.(x)\* | 49580 | 62471 |
|  OneSpaWorld Holdings Ltd. | 34580 | 731021 |
|  Perdoceo Education Corp. | 23770 | 895178 |
|  Strategic Education, Inc. | 8431 | 725150 |
|  Stride, Inc.\* | 15020 | 2237079 |
|  Stubhub Holdings, Inc., Class A(x)\* | 369490 | 6222212 |
|  Udemy, Inc.\* | 26300 | 184363 |
|  Universal Technical Institute, Inc.\* | 14400 | 468720 |
|  Zspace, Inc.\* | 15700 | 15383 |
|  |  | 35879988 |
|  ***Hotels, Restaurants & Leisure (2.6%)*** |  |  |
|  Accel Entertainment, Inc., Class A\* | 19860 | 219850 |
|  Bally's Corp.(x)\* | 1000 | 11100 |
|  Biglari Holdings, Inc., Class B\* | 570 | 184481 |
|  BJ's Restaurants, Inc.\* | 6700 | 204551 |
|  Bloomin' Brands, Inc. | 30970 | 222055 |
|  Brightstar Lottery plc(x) | 43468 | 749823 |
|  Brinker International, Inc.\* | 16140 | 2044615 |
|  Cheesecake Factory, Inc. (The)(x) | 16830 | 919591 |
|  Cracker Barrel Old Country Store, Inc.(x) | 8485 | 373849 |
|  Denny's Corp.(x)\* | 25242 | 132016 |
|  Dine Brands Global, Inc. | 6920 | 171062 |
|  DraftKings, Inc., Class A\* | 274222 | 10255903 |
|  El Pollo Loco Holdings, Inc.\* | 5010 | 48597 |
|  First Watch Restaurant Group, Inc.\* | 13820 | 216145 |
|  Genius Sports Ltd.\* | 80700 | 999066 |
|  Global Business Travel Group I\* | 47940 | 387355 |
|  Golden Entertainment, Inc. | 6400 | 150912 |
|  Hilton Grand Vacations, Inc.\* | 19060 | 796899 |
|  Inspired Entertainment, Inc.\* | 1610 | 15102 |
|  Jack in the Box, Inc.(x) | 7550 | 149263 |
|  Krispy Kreme, Inc. | 32583 | 126096 |
|  Kura Sushi USA, Inc., Class A\* | 1590 | 94462 |
|  Life Time Group Holdings, Inc.\* | 49440 | 1364544 |
|  Lindblad Expeditions Holdings, Inc.\* | 13360 | 171008 |
|  Marriott Vacations Worldwide Corp. | 8800 | 585728 |
|  Monarch Casino & Resort, Inc. | 4900 | 518616 |
|  Nathan's Famous, Inc. | 500 | 55370 |
|  Papa John's International, Inc. | 13066 | 629128 |
|  Portillo's, Inc., Class A\* | 20630 | 133064 |
|  Potbelly Corp.\* | 5570 | 94913 |
|  Pursuit Attractions and Hospitality, Inc.\* | 6280 | 227210 |
|  RCI Hospitality Holdings, Inc. | 2720 | 82987 |
|  Red Rock Resorts, Inc., Class A | 18260 | 1114956 |
|  Rush Street Interactive, Inc.\* | 27410 | 561357 |
|  Sabre Corp.(x)\* | 118700 | 217221 |
|  Serve Robotics, Inc.(x)\* | 16800 | 195384 |
|  Shake Shack, Inc., Class A\* | 14070 | 1317093 |
|  Six Flags Entertainment Corp.(x)\* | 34835 | 791451 |
|  Super Group SGHC Ltd. | 56770 | 749364 |
|  Sweetgreen, Inc., Class A(x)\* | 36291 | 289602 |
|  Target Hospitality Corp.\* | 14580 | 123638 |
|  United Parks & Resorts, Inc.(x)\* | 10110 | 522687 |
|  Viking Holdings Ltd.\* | 186706 | 11605645 |
|  Wingstop, Inc.(x) | 43722 | 11003953 |
|  Xponential Fitness, Inc., Class A\* | 11200 | 87248 |
|  |  | 50914960 |
|  ***Household Durables (2.1%)*** |  |  |
|  Bassett Furniture Industries, Inc. | 300 | 4692 |
|  Beazer Homes USA, Inc.\* | 11200 | 274960 |
|  Cavco Industries, Inc.\* | 2590 | 1504091 |
|  Century Communities, Inc. | 10350 | 655879 |
|  Champion Homes, Inc.\* | 154792 | 11821465 |
|  Cricut, Inc., Class A | 13830 | 86991 |
|  Dream Finders Homes, Inc., Class A(x)\* | 9020 | 233798 |
|  Ethan Allen Interiors, Inc. | 8510 | 250705 |
|  Flexsteel Industries, Inc. | 630 | 29200 |
|  Green Brick Partners, Inc.\* | 12010 | 887059 |
|  Hamilton Beach Brands Holding Co., Class A | 740 | 10634 |
|  Helen of Troy Ltd.\* | 8133 | 204952 |
|  Hovnanian Enterprises, Inc., Class A\* | 1720 | 221003 |
|  Installed Building Products, Inc. | 8030 | 1980680 |
|  KB Home | 24009 | 1527933 |
|  La-Z-Boy, Inc. | 16360 | 561475 |
|  Legacy Housing Corp.\* | 3660 | 100687 |
|  Leggett & Platt, Inc. | 48600 | 431568 |
|  LGI Homes, Inc.\* | 7040 | 364038 |
|  M/I Homes, Inc.\* | 10040 | 1450178 |
|  Meritage Homes Corp. | 26540 | 1922292 |
|  SharkNinja, Inc.\* | 126376 | 13035684 |
|  Sonos, Inc.\* | 38758 | 612376 |
|  Taylor Morrison Home Corp., Class A\* | 33700 | 2224537 |
|  Traeger, Inc.\* | 15350 | 18727 |
|  Tri Pointe Homes, Inc.\* | 33530 | 1139014 |
|  |  | 41554618 |
|  ***Leisure Products (0.2%)*** |  |  |
|  Acushnet Holdings Corp. | 7690 | 603588 |
|  Clarus Corp. | 5410 | 18935 |
|  Escalade, Inc. | 340 | 4274 |
|  Funko, Inc., Class A\* | 8080 | 27795 |
|  JAKKS Pacific, Inc. | 4210 | 78853 |
|  Johnson Outdoors, Inc., Class A | 2450 | 98955 |
|  Latham Group, Inc.\* | 15860 | 120695 |
|  Malibu Boats, Inc., Class A\* | 9700 | 314765 |
|  Marine Products Corp. | 2250 | 19958 |
|  MasterCraft Boat Holdings, Inc.\* | 5840 | 125326 |
|  Outdoor Holding Co.\* | 18420 | 27262 |
|  Peloton Interactive, Inc., Class A\* | 129190 | 1162710 |
|  Polaris, Inc.(x) | 19400 | 1127722 |
|  Smith & Wesson Brands, Inc. | 11000 | 108130 |
|  Sturm Ruger & Co., Inc. | 8300 | 360801 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value<br>(Note 1)** |
|  Topgolf Callaway Brands Corp.\* | 46900 | $445550 |
|  |  | 4645319 |
|  ***Specialty Retail (2.8%)*** |  |  |
|  1-800-Flowers.com, Inc., Class A\* | 14810 | 68126 |
|  Abercrombie & Fitch Co., Class A\* | 16420 | 1404731 |
|  Academy Sports & Outdoors, Inc. | 23430 | 1171969 |
|  Advance Auto Parts, Inc.(x) | 21900 | 1344660 |
|  American Eagle Outfitters, Inc. | 57600 | 985536 |
|  America's Car-Mart, Inc.\* | 2940 | 85877 |
|  Arhaus, Inc., Class A\* | 270 | 2870 |
|  Arko Corp. | 27380 | 125127 |
|  Asbury Automotive Group, Inc.\* | 6910 | 1689149 |
|  BARK, Inc.\* | 19330 | 16059 |
|  Barnes & Noble Education, Inc.\* | 3200 | 31840 |
|  Bed Bath & Beyond, Inc.(x)\* | 16500 | 161535 |
|  Boot Barn Holdings, Inc.\* | 10850 | 1798062 |
|  Buckle, Inc. (The) | 11600 | 680456 |
|  Build-A-Bear Workshop, Inc.(x) | 3570 | 232800 |
|  Burlington Stores, Inc.\* | 44150 | 11236175 |
|  Caleres, Inc. | 5100 | 66504 |
|  Camping World Holdings, Inc., Class A | 16900 | 266851 |
|  Citi Trends, Inc.\* | 1580 | 49027 |
|  Designer Brands, Inc., Class A(x) | 26970 | 95474 |
|  EVgo, Inc., Class A\* | 46000 | 217580 |
|  Genesco, Inc.\* | 4200 | 121758 |
|  Group 1 Automotive, Inc. | 4717 | 2063735 |
|  Haverty Furniture Cos., Inc. | 6800 | 149124 |
|  J Jill, Inc. | 4190 | 71858 |
|  Lands' End, Inc.\* | 10810 | 152421 |
|  MarineMax, Inc.(x)\* | 6500 | 164645 |
|  Monro, Inc. | 5950 | 106922 |
|  Murphy USA, Inc. | 25925 | 10065640 |
|  National Vision Holdings, Inc.\* | 25561 | 746126 |
|  ODP Corp. (The)\* | 13020 | 362607 |
|  OneWater Marine, Inc., Class A(x)\* | 2850 | 45144 |
|  Petco Health & Wellness Co., Inc., Class A(x)\* | 25760 | 99691 |
|  RealReal, Inc. (The)(x)\* | 36380 | 386719 |
|  Revolve Group, Inc., Class A\* | 14400 | 306720 |
|  RH\* | 49613 | 10079377 |
|  Sally Beauty Holdings, Inc.\* | 39980 | 650874 |
|  Shoe Carnival, Inc. | 2490 | 51767 |
|  Signet Jewelers Ltd. | 14850 | 1424412 |
|  Sleep Number Corp.(x)\* | 9570 | 67181 |
|  Sonic Automotive, Inc., Class A | 6020 | 458062 |
|  Stitch Fix, Inc., Class A\* | 38600 | 167910 |
|  ThredUp, Inc., Class A\* | 28270 | 267152 |
|  Tile Shop Holdings, Inc.\* | 3350 | 20268 |
|  Torrid Holdings, Inc.\* | 17190 | 30083 |
|  Upbound Group, Inc. | 20530 | 485124 |
|  Urban Outfitters, Inc.\* | 22980 | 1641461 |
|  Victoria's Secret & Co.\* | 22380 | 607393 |
|  Warby Parker, Inc., Class A\* | 35800 | 987364 |
|  Winmark Corp. | 1100 | 547547 |
|  Zumiez, Inc.\* | 6480 | 127073 |
|  |  | 54186566 |
|  ***Textiles, Apparel & Luxury Goods (2.0%)*** |  |  |
|  Amer Sports, Inc.\* | 335378 | 11654385 |
|  Birkenstock Holding plc(x)\* | 235715 | 10666104 |
|  Capri Holdings Ltd.\* | 42400 | 844608 |
|  Carter's, Inc.(x) | 13000 | 366860 |
|  Ermenegildo Zegna NV(x) | 13500 | 127575 |
|  Figs, Inc., Class A\* | 46400 | 310416 |
|  G-III Apparel Group Ltd.\* | 11540 | 307079 |
|  Hanesbrands, Inc.\* | 134980 | 889518 |
|  Kontoor Brands, Inc. | 20040 | 1598591 |
|  Movado Group, Inc. | 7660 | 145310 |
|  On Holding AG, Class A\* | 267311 | 11320621 |
|  Oxford Industries, Inc. | 5580 | 226213 |
|  Rocky Brands, Inc. | 740 | 22045 |
|  Steven Madden Ltd.(x) | 25543 | 855180 |
|  Superior Group of Cos., Inc. | 1130 | 12114 |
|  Wolverine World Wide, Inc. | 29400 | 806736 |
|  |  | 40153355 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 254228101 |
|  **Consumer Staples (1.9%)** |  |  |
|  ***Beverages (0.9%)*** |  |  |
|  Celsius Holdings, Inc.\* | 308574 | 17739919 |
|  MGP Ingredients, Inc. | 5400 | 130626 |
|  National Beverage Corp.\* | 8430 | 311235 |
|  Vita Coco Co., Inc. (The)\* | 15000 | 637050 |
|  Zevia PBC, Class A\* | 19730 | 53666 |
|  |  | 18872496 |
|  ***Consumer Staples Distribution & Retail (0.3%)*** |  |  |
|  Andersons, Inc. (The) | 13600 | 541416 |
|  Chefs' Warehouse, Inc. (The)\* | 14200 | 828286 |
|  Grocery Outlet Holding Corp.\* | 34500 | 553725 |
|  Guardian Pharmacy Services, Inc., Class A\* | 4100 | 107543 |
|  HF Foods Group, Inc.\* | 9920 | 27379 |
|  Ingles Markets, Inc., Class A | 6200 | 431272 |
|  Natural Grocers by Vitamin Cottage, Inc. | 5010 | 200400 |
|  PriceSmart, Inc. | 9000 | 1090710 |
|  United Natural Foods, Inc.\* | 21300 | 801306 |
|  Village Super Market, Inc., Class A | 2600 | 97136 |
|  Weis Markets, Inc. | 5800 | 416846 |
|  |  | 5096019 |
|  ***Food Products (0.4%)*** |  |  |
|  Alico, Inc. | 1960 | 67934 |
|  B&G Foods, Inc.(x) | 27870 | 123464 |
|  Beyond Meat, Inc.(x)\* | 53510 | 101134 |
|  BRC, Inc., Class A(x)\* | 39800 | 62088 |
|  Calavo Growers, Inc. | 6440 | 165766 |
|  Cal-Maine Foods, Inc. | 15870 | 1493367 |
|  Dole plc | 27430 | 368659 |
|  Forafric Global plc(x)\* | 1020 | 8864 |
|  Fresh Del Monte Produce, Inc. | 12400 | 430528 |
|  Hain Celestial Group, Inc. (The)\* | 70300 | 111074 |
|  J & J Snack Foods Corp. | 5610 | 539065 |
|  John B Sanfilippo & Son, Inc. | 2300 | 147844 |
|  Lifeway Foods, Inc.\* | 3170 | 87999 |
|  Limoneira Co. | 3470 | 51529 |
|  Mama's Creations, Inc.\* | 11200 | 117712 |
|  Marzetti Co. (The) | 7080 | 1223353 |
|  Mission Produce, Inc.\* | 18670 | 224413 |
|  Seneca Foods Corp., Class A\* | 1140 | 123052 |
|  Simply Good Foods Co. (The)\* | 33823 | 839487 |
|  SunOpta, Inc.\* | 30700 | 179902 |
|  Tootsie Roll Industries, Inc. | 6400 | 268288 |
|  TreeHouse Foods, Inc.\* | 15950 | 322349 |
|  Utz Brands, Inc. | 23600 | 286740 |
|  Vital Farms, Inc.\* | 12270 | 504911 |
|  Westrock Coffee Co.(x)\* | 14420 | 70081 |
|  |  | 7919603 |
|  ***Household Products (0.1%)*** |  |  |
|  Central Garden & Pet Co.\* | 4480 | 146272 |
|  Central Garden & Pet Co., Class A\* | 18707 | 552418 |
|  Energizer Holdings, Inc. | 24100 | 599849 |
|  Oil-Dri Corp. of America | 3520 | 214861 |
|  Spectrum Brands Holdings, Inc. | 8500 | 446505 |
|  WD-40 Co. | 3910 | 772616 |
|  |  | 2732521 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value<br>(Note 1)** |
|  ***Personal Care Products (0.1%)*** |  |  |
|  Beauty Health Co. (The)(x)\* | 82610 | $164394 |
|  Edgewell Personal Care Co. | 17480 | 355893 |
|  FitLife Brands, Inc.\* | 200 | 3978 |
|  Herbalife Ltd.(x)\* | 36100 | 304684 |
|  Honest Co., Inc. (The)(x)\* | 29990 | 110363 |
|  Interparfums, Inc. | 6540 | 643405 |
|  Lifevantage Corp. | 1000 | 9730 |
|  Medifast, Inc.(x)\* | 9820 | 134239 |
|  Nature's Sunshine Products, Inc.\* | 4650 | 72168 |
|  Nu Skin Enterprises, Inc., Class A | 3200 | 39008 |
|  Olaplex Holdings, Inc.(x)\* | 35690 | 46754 |
|  USANA Health Sciences, Inc.\* | 3770 | 103864 |
|  Waldencast plc, Class A(x)\* | 4700 | 9306 |
|  |  | 1997786 |
|  ***Tobacco (0.1%)*** |  |  |
|  Ispire Technology, Inc.(x)\* | 5660 | 14489 |
|  Turning Point Brands, Inc. | 6310 | 623807 |
|  Universal Corp. | 8980 | 501713 |
|  |  | 1140009 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 37758434 |
|  **Energy (2.9%)** |  |  |
|  ***Energy Equipment & Services (1.3%)*** |  |  |
|  Archrock, Inc. | 58980 | 1551764 |
|  Aris Water Solutions, Inc., Class A | 7830 | 193088 |
|  Atlas Energy Solutions, Inc.(x) | 25950 | 295051 |
|  Borr Drilling Ltd.(x) | 80000 | 215200 |
|  Bristow Group, Inc., Class A\* | 7973 | 287666 |
|  Cactus, Inc., Class A | 24400 | 963068 |
|  Core Laboratories, Inc. | 11880 | 146837 |
|  DMC Global, Inc.\* | 13020 | 110019 |
|  Energy Services of America Corp. | 2000 | 20700 |
|  Expro Group Holdings NV\* | 36183 | 429854 |
|  Flowco Holdings, Inc., Class A | 7900 | 117315 |
|  Forum Energy Technologies, Inc.\* | 2550 | 68110 |
|  Helix Energy Solutions Group, Inc.\* | 55600 | 364736 |
|  Helmerich & Payne, Inc. | 27280 | 602615 |
|  Innovex International, Inc.\* | 9570 | 177428 |
|  Kodiak Gas Services, Inc.(x) | 24120 | 891716 |
|  Liberty Energy, Inc., Class A | 56890 | 702023 |
|  Mammoth Energy Services, Inc.\* | 4760 | 10900 |
|  Nabors Industries Ltd.(x)\* | 9300 | 380091 |
|  National Energy Services Reunited Corp.\* | 21900 | 224694 |
|  Natural Gas Services Group, Inc. | 2560 | 71654 |
|  Noble Corp. plc | 45821 | 1295818 |
|  Oceaneering International, Inc.\* | 33440 | 828643 |
|  Oil States International, Inc.\* | 36610 | 221857 |
|  Patterson-UTI Energy, Inc. | 130827 | 677684 |
|  ProFrac Holding Corp., Class A\* | 39130 | 144781 |
|  ProPetro Holding Corp.\* | 33200 | 173968 |
|  Ranger Energy Services, Inc., Class A | 6800 | 95472 |
|  RPC, Inc. | 32795 | 156104 |
|  SEACOR Marine Holdings, Inc.(x)\* | 6280 | 40757 |
|  Seadrill Ltd.\* | 23180 | 700268 |
|  Select Water Solutions, Inc., Class A | 34860 | 372653 |
|  Solaris Energy Infrastructure, Inc., Class A | 10810 | 432076 |
|  TechnipFMC plc | 215235 | 8491021 |
|  TETRA Technologies, Inc.\* | 51890 | 298368 |
|  Tidewater, Inc.\* | 17460 | 931142 |
|  Transocean Ltd.(x)\* | 278620 | 869294 |
|  Valaris Ltd.\* | 22170 | 1081231 |
|  |  | 24635666 |
|  ***Oil, Gas & Consumable Fuels (1.6%)*** |  |  |
|  Ardmore Shipping Corp. | 15370 | 182442 |
|  Berry Corp. | 18660 | 70535 |
|  BKV Corp.\* | 5200 | 120276 |
|  California Resources Corp. | 23720 | 1261430 |
|  Calumet, Inc.(x)\* | 25100 | 458075 |
|  Centrus Energy Corp., Class A(x)\* | 5390 | 1671277 |
|  Clean Energy Fuels Corp.\* | 30290 | 78148 |
|  CNX Resources Corp.(x)\* | 46790 | 1502895 |
|  Comstock Resources, Inc.(x)\* | 27000 | 535410 |
|  Core Natural Resources, Inc. | 19351 | 1615421 |
|  Crescent Energy Co., Class A | 58598 | 522694 |
|  CVR Energy, Inc.\* | 10800 | 393984 |
|  Delek US Holdings, Inc. | 25680 | 828694 |
|  DHT Holdings, Inc. | 51900 | 620205 |
|  Diversified Energy Co. plc(m) | 17950 | 251480 |
|  Dorian LPG Ltd. | 14715 | 438507 |
|  Empire Petroleum Corp.(x)\* | 1752 | 7919 |
|  Encore Energy Corp.(x)\* | 54640 | 175394 |
|  Energy Fuels, Inc.(x)\* | 75800 | 1163530 |
|  Epsilon Energy Ltd. | 2600 | 13104 |
|  Evolution Petroleum Corp. | 7090 | 34174 |
|  Excelerate Energy, Inc., Class A | 8340 | 210085 |
|  FLEX LNG Ltd. | 10400 | 262080 |
|  FutureFuel Corp. | 22010 | 85399 |
|  Golar LNG Ltd. | 37320 | 1508101 |
|  Granite Ridge Resources, Inc. | 18360 | 99328 |
|  Green Plains, Inc.\* | 22100 | 194259 |
|  Gulfport Energy Corp.\* | 5550 | 1004439 |
|  HighPeak Energy, Inc.(x) | 16490 | 116584 |
|  International Seaways, Inc. | 14415 | 664243 |
|  Kinetik Holdings, Inc., Class A(x) | 16110 | 688541 |
|  Kosmos Energy Ltd.\* | 170060 | 282300 |
|  Magnolia Oil & Gas Corp., Class A | 67840 | 1619341 |
|  Murphy Oil Corp.(x) | 51720 | 1469365 |
|  NACCO Industries, Inc., Class A | 670 | 28247 |
|  NextDecade Corp.\* | 43400 | 294686 |
|  NextNRG, Inc.(x)\* | 900 | 1647 |
|  Nordic American Tankers Ltd.(x) | 46190 | 145037 |
|  Northern Oil & Gas, Inc.(x) | 32100 | 796080 |
|  OPAL Fuels, Inc., Class A(x)\* | 1900 | 4180 |
|  Par Pacific Holdings, Inc.\* | 21190 | 750550 |
|  PBF Energy, Inc., Class A | 33524 | 1011419 |
|  Peabody Energy Corp. | 41400 | 1097928 |
|  Prairie Operating Co.(x)\* | 9500 | 18857 |
|  PrimeEnergy Resources Corp.\* | 650 | 108569 |
|  REX American Resources Corp.\* | 13600 | 416432 |
|  Riley Exploration Permian, Inc. | 4070 | 110338 |
|  Sable Offshore Corp.\* | 24880 | 434405 |
|  SandRidge Energy, Inc. | 11790 | 132991 |
|  Scorpio Tankers, Inc. | 17790 | 997129 |
|  SFL Corp. Ltd.(x) | 47800 | 359934 |
|  SM Energy Co. | 41250 | 1030012 |
|  Talos Energy, Inc.\* | 46750 | 448333 |
|  Teekay Corp. Ltd. | 17320 | 141678 |
|  Teekay Tankers Ltd., Class A | 9170 | 463543 |
|  Uranium Energy Corp.\* | 155040 | 2068234 |
|  VAALCO Energy, Inc. | 30910 | 124258 |
|  Verde Clean Fuels, Inc.\* | 270 | 823 |
|  Vital Energy, Inc.\* | 10930 | 184608 |
|  Vitesse Energy, Inc.(x) | 10750 | 249722 |
|  W&T Offshore, Inc.(x) | 105530 | 192065 |
|  World Kinect Corp. | 22260 | 577647 |
|  |  | 32339011 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 56974677 |
|  **Financials (13.7%)** |  |  |
|  ***Banks (5.1%)*** |  |  |
|  1st Source Corp. | 6535 | 402295 |
|  ACNB Corp. | 1850 | 81474 |
|  Amalgamated Financial Corp. | 10010 | 271772 |
|  Amerant Bancorp, Inc., Class A | 20800 | 400816 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value<br>(Note 1)** |
|  Ameris Bancorp | 24920 | $1826885 |
|  Ames National Corp. | 1280 | 25882 |
|  Arrow Financial Corp. | 4365 | 123529 |
|  Associated Banc-Corp. | 58680 | 1508663 |
|  Atlantic Union Bankshares Corp. | 49606 | 1750596 |
|  Axos Financial, Inc.\* | 18880 | 1598192 |
|  Banc of California, Inc. | 51210 | 847525 |
|  BancFirst Corp. | 7610 | 962284 |
|  Bancorp, Inc. (The)\* | 15470 | 1158548 |
|  Bank First Corp. | 3580 | 434290 |
|  Bank of Hawaii Corp. | 15040 | 987226 |
|  Bank of Marin Bancorp | 5260 | 127713 |
|  Bank of NT Butterfield & Son Ltd. (The) | 18080 | 775994 |
|  Bank7 Corp. | 1720 | 79584 |
|  BankFinancial Corp. | 260 | 3128 |
|  BankUnited, Inc. | 29700 | 1133352 |
|  Bankwell Financial Group, Inc. | 1230 | 54428 |
|  Banner Corp. | 13700 | 897350 |
|  Bar Harbor Bankshares | 2290 | 69753 |
|  BayCom Corp. | 2560 | 73600 |
|  BCB Bancorp, Inc. | 4110 | 35675 |
|  Beacon Financial Corp. | 27779 | 658640 |
|  Blue Foundry Bancorp\* | 3920 | 35633 |
|  Blue Ridge Bankshares, Inc.\* | 2520 | 10660 |
|  Bridgewater Bancshares, Inc.\* | 6750 | 118800 |
|  Burke & Herbert Financial Services Corp. | 4444 | 274150 |
|  Business First Bancshares, Inc. | 8360 | 197380 |
|  BV Financial, Inc.\* | 460 | 7415 |
|  Byline Bancorp, Inc. | 16360 | 453663 |
|  C&F Financial Corp. | 120 | 8064 |
|  Cadence Bank | 67753 | 2543448 |
|  California Bancorp\* | 4590 | 76561 |
|  Camden National Corp. | 5055 | 195072 |
|  Capital Bancorp, Inc. | 2700 | 86130 |
|  Capital City Bank Group, Inc. | 5250 | 219398 |
|  Capitol Federal Financial, Inc. | 60600 | 384810 |
|  Carter Bankshares, Inc.\* | 6680 | 129659 |
|  Cathay General Bancorp | 25091 | 1204619 |
|  CB Financial Services, Inc. | 160 | 5314 |
|  Central Pacific Financial Corp. | 8730 | 264868 |
|  CF Bankshares, Inc. | 110 | 2634 |
|  Chain Bridge Bancorp, Inc., Class A\* | 180 | 5891 |
|  Chemung Financial Corp. | 830 | 43592 |
|  ChoiceOne Financial Services, Inc.(x) | 3130 | 90645 |
|  Citizens & Northern Corp. | 5970 | 118266 |
|  Citizens Community Bancorp, Inc. | 270 | 4339 |
|  Citizens Financial Services, Inc. | 680 | 40990 |
|  City Holding Co. | 5540 | 686240 |
|  Civista Bancshares, Inc. | 5330 | 108252 |
|  CNB Financial Corp. | 10051 | 243234 |
|  Coastal Financial Corp.\* | 4290 | 464049 |
|  Colony Bankcorp, Inc. | 4550 | 77395 |
|  Columbia Financial, Inc.\* | 13410 | 201284 |
|  Community Financial System, Inc. | 19366 | 1135622 |
|  Community Trust Bancorp, Inc. | 6100 | 341295 |
|  Community West Bancshares | 3550 | 73982 |
|  ConnectOne Bancorp, Inc. | 18338 | 454966 |
|  Customers Bancorp, Inc.\* | 10800 | 705996 |
|  CVB Financial Corp. | 51335 | 970745 |
|  Dime Community Bancshares, Inc. | 15719 | 468898 |
|  Eagle Bancorp Montana, Inc. | 470 | 8117 |
|  Eagle Bancorp, Inc. | 12230 | 247291 |
|  Eagle Financial Services, Inc. | 270 | 10214 |
|  Eastern Bankshares, Inc. | 66944 | 1215034 |
|  ECB Bancorp, Inc.\* | 200 | 3174 |
|  Enterprise Financial Services Corp. | 12634 | 732519 |
|  Equity Bancshares, Inc., Class A | 9000 | 366300 |
|  Esquire Financial Holdings, Inc. | 2550 | 260240 |
|  Farmers & Merchants Bancorp, Inc. | 2490 | 62275 |
|  Farmers National Banc Corp. | 13030 | 187762 |
|  FB Bancorp, Inc.\* | 870 | 10457 |
|  FB Financial Corp. | 14864 | 828519 |
|  Fidelity D&D Bancorp, Inc. | 630 | 27613 |
|  Financial Institutions, Inc. | 7240 | 196928 |
|  Finward Bancorp | 80 | 2567 |
|  Finwise Bancorp\* | 210 | 4072 |
|  First Bancorp (Nasdaq Stock Exchange) | 13398 | 708620 |
|  First Bancorp (New York Stock Exchange) | 54620 | 1204371 |
|  First Bancorp, Inc. (The) | 4340 | 113968 |
|  First Bank | 3890 | 63368 |
|  First Busey Corp. | 29935 | 692995 |
|  First Business Financial Services, Inc. | 1800 | 92268 |
|  First Capital, Inc.(x) | 70 | 3206 |
|  First Commonwealth Financial Corp. | 36600 | 624030 |
|  First Community Bankshares, Inc. | 8520 | 296496 |
|  First Community Corp. | 290 | 8184 |
|  First Financial Bancorp | 35765 | 903066 |
|  First Financial Bankshares, Inc. | 48240 | 1623276 |
|  First Financial Corp. | 3690 | 208264 |
|  First Financial Northwest, Inc.(r)\* | 970 | 1028 |
|  First Foundation, Inc.\* | 37760 | 210323 |
|  First Internet Bancorp | 1930 | 43290 |
|  First Interstate BancSystem, Inc., Class A | 30784 | 981086 |
|  First Merchants Corp. | 20730 | 781521 |
|  First Mid Bancshares, Inc. | 7700 | 291676 |
|  First National Corp. | 260 | 5897 |
|  First Savings Financial Group, Inc. | 200 | 6286 |
|  First United Corp. | 210 | 7722 |
|  First Western Financial, Inc.\* | 1700 | 39142 |
|  Firstsun Capital Bancorp\* | 840 | 32584 |
|  Five Star Bancorp | 6550 | 210910 |
|  Flagstar Financial, Inc. | 110693 | 1278504 |
|  Flushing Financial Corp. | 16910 | 233527 |
|  Franklin Financial Services Corp. | 170 | 7820 |
|  FS Bancorp, Inc. | 1170 | 46706 |
|  Fulton Financial Corp. | 68260 | 1271684 |
|  FVCBankcorp, Inc. | 2065 | 26783 |
|  GBank Financial Holdings, Inc.(x)\* | 1250 | 49087 |
|  German American Bancorp, Inc. | 13210 | 518757 |
|  Glacier Bancorp, Inc.(x) | 42400 | 2063608 |
|  Great Southern Bancorp, Inc. | 2340 | 143325 |
|  Greene County Bancorp, Inc. | 3200 | 72320 |
|  Guaranty Bancshares, Inc. | 2960 | 144300 |
|  Hancock Whitney Corp. | 31972 | 2001767 |
|  Hanmi Financial Corp. | 13010 | 321217 |
|  Hanover Bancorp, Inc. | 130 | 2918 |
|  HarborOne Bancorp, Inc. | 17090 | 232424 |
|  Hawthorn Bancshares, Inc. | 190 | 5898 |
|  HBT Financial, Inc. | 3880 | 97776 |
|  Heritage Commerce Corp. | 34910 | 346656 |
|  Heritage Financial Corp. | 15266 | 369285 |
|  Hilltop Holdings, Inc. | 17399 | 581475 |
|  Hingham Institution For Savings (The)(x) | 970 | 255867 |
|  Home Bancorp, Inc. | 2600 | 141245 |
|  Home BancShares, Inc. | 71075 | 2011423 |
|  HomeTrust Bancshares, Inc. | 8350 | 341849 |
|  Hope Bancorp, Inc. | 44585 | 480180 |
|  Horizon Bancorp, Inc. | 17900 | 286579 |
|  Independent Bank Corp. | 6600 | 204435 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value<br>(Note 1)** |
|  Independent Bank Corp./MA | 17415 | $1204596 |
|  International Bancshares Corp. | 20600 | 1416250 |
|  Investar Holding Corp. | 1400 | 32494 |
|  John Marshall Bancorp, Inc. | 1710 | 33892 |
|  Kearny Financial Corp. | 32165 | 211324 |
|  Lakeland Financial Corp. | 10455 | 671211 |
|  Landmark Bancorp, Inc. | 170 | 4537 |
|  LCNB Corp. | 2130 | 31929 |
|  LINKBANCORP, Inc. | 2000 | 14260 |
|  Live Oak Bancshares, Inc. | 12400 | 436728 |
|  MainStreet Bancshares, Inc. | 260 | 5416 |
|  Mechanics Bancorp\* | 15560 | 207104 |
|  Mercantile Bank Corp. | 5840 | 262800 |
|  Meridian Corp. | 420 | 6632 |
|  Metrocity Bankshares, Inc. | 6660 | 184415 |
|  Metropolitan Bank Holding Corp. | 3540 | 264863 |
|  Mid Penn Bancorp, Inc. | 6350 | 181864 |
|  Middlefield Banc Corp. | 940 | 28209 |
|  Midland States Bancorp, Inc. | 10170 | 174314 |
|  MidWestOne Financial Group, Inc. | 6750 | 190957 |
|  MVB Financial Corp. | 2520 | 63151 |
|  National Bank Holdings Corp., Class A | 14100 | 544824 |
|  National Bankshares, Inc. | 1120 | 32973 |
|  NB Bancorp, Inc. | 14870 | 262456 |
|  NBT Bancorp, Inc. | 18655 | 779033 |
|  Nicolet Bankshares, Inc. | 4800 | 645600 |
|  Northeast Bank | 2440 | 244390 |
|  Northeast Community Bancorp, Inc. | 3880 | 79812 |
|  Northfield Bancorp, Inc. | 16890 | 199302 |
|  Northpointe Bancshares, Inc. | 900 | 15372 |
|  Northrim Bancorp, Inc. | 7600 | 164616 |
|  Northwest Bancshares, Inc. | 56393 | 698709 |
|  Norwood Financial Corp. | 1540 | 39147 |
|  Oak Valley Bancorp | 1110 | 31269 |
|  OceanFirst Financial Corp. | 24343 | 427707 |
|  OFG Bancorp | 17560 | 763684 |
|  Ohio Valley Banc Corp. | 100 | 3698 |
|  Old National Bancorp | 125616 | 2757271 |
|  Old Second Bancorp, Inc. | 25450 | 439903 |
|  OP Bancorp | 670 | 9326 |
|  Orange County Bancorp, Inc. | 2240 | 56470 |
|  Origin Bancorp, Inc. | 10870 | 375232 |
|  Orrstown Financial Services, Inc. | 6950 | 236161 |
|  Park National Corp. | 5220 | 848407 |
|  Parke Bancorp, Inc. | 1760 | 37928 |
|  Pathward Financial, Inc. | 8340 | 617243 |
|  Patriot National Bancorp, Inc.(x)\* | 12780 | 16614 |
|  PCB Bancorp | 2110 | 44310 |
|  Peapack-Gladstone Financial Corp. | 6090 | 168084 |
|  Peoples Bancorp of North Carolina, Inc. | 450 | 13797 |
|  Peoples Bancorp, Inc. | 13004 | 389990 |
|  Peoples Financial Services Corp. | 1320 | 64165 |
|  Pioneer Bancorp, Inc.\* | 1540 | 20112 |
|  Plumas Bancorp | 850 | 36669 |
|  Ponce Financial Group, Inc.\* | 4030 | 59241 |
|  Preferred Bank | 4900 | 442911 |
|  Primis Financial Corp. | 7690 | 80822 |
|  Princeton Bancorp, Inc. | 920 | 29293 |
|  Provident Bancorp, Inc.\* | 4760 | 59643 |
|  Provident Financial Services, Inc. | 48105 | 927464 |
|  QCR Holdings, Inc. | 5800 | 438712 |
|  RBB Bancorp | 4520 | 84795 |
|  Red River Bancshares, Inc. | 1200 | 77784 |
|  Renasant Corp. | 31820 | 1173840 |
|  Republic Bancorp, Inc., Class A | 3180 | 229755 |
|  Rhinebeck Bancorp, Inc.\* | 240 | 2726 |
|  Richmond Mutual Bancorp, Inc.(x) | 580 | 8242 |
|  Riverview Bancorp, Inc. | 1310 | 7035 |
|  S&T Bancorp, Inc. | 14209 | 534116 |
|  SB Financial Group, Inc. | 260 | 5015 |
|  Seacoast Banking Corp. of Florida | 31385 | 955046 |
|  ServisFirst Bancshares, Inc. | 19300 | 1554229 |
|  Shore Bancshares, Inc. | 7105 | 116593 |
|  Sierra Bancorp | 4610 | 133275 |
|  Simmons First National Corp., Class A | 49819 | 955030 |
|  SmartFinancial, Inc. | 5360 | 191513 |
|  Sound Financial Bancorp, Inc. | 60 | 2764 |
|  South Plains Financial, Inc. | 3620 | 139913 |
|  Southern First Bancshares, Inc.\* | 1690 | 74563 |
|  Southern Missouri Bancorp, Inc. | 3250 | 170820 |
|  Southside Bancshares, Inc. | 14736 | 416292 |
|  SR Bancorp, Inc.(x) | 710 | 10714 |
|  Stellar Bancorp, Inc. | 17384 | 527431 |
|  Sterling Bancorp, Inc.(r)\* | 1320 |  |
|  Stock Yards Bancorp, Inc. | 9010 | 630610 |
|  Texas Capital Bancshares, Inc.\* | 17070 | 1442927 |
|  Third Coast Bancshares, Inc.\* | 3800 | 144286 |
|  Timberland Bancorp, Inc. | 1260 | 41933 |
|  Tompkins Financial Corp. | 4561 | 301984 |
|  Towne Bank | 28909 | 999384 |
|  TriCo Bancshares | 10782 | 478829 |
|  Triumph Financial, Inc.\* | 9000 | 450360 |
|  TrustCo Bank Corp. | 6930 | 251559 |
|  Trustmark Corp. | 23320 | 923472 |
|  UMB Financial Corp. | 26480 | 3133908 |
|  Union Bankshares, Inc. | 100 | 2476 |
|  United Bankshares, Inc. | 51582 | 1919366 |
|  United Community Banks, Inc. | 45700 | 1432695 |
|  United Security Bancshares | 270 | 2519 |
|  Unity Bancorp, Inc. | 2260 | 110446 |
|  Univest Financial Corp. | 11100 | 333222 |
|  USCB Financial Holdings, Inc. | 2670 | 46592 |
|  Valley National Bancorp | 169079 | 1792237 |
|  Veritex Holdings, Inc. | 17824 | 597639 |
|  Virginia National Bankshares Corp. | 890 | 34541 |
|  WaFd, Inc. | 29008 | 878652 |
|  Washington Trust Bancorp, Inc. | 9910 | 286399 |
|  WesBanco, Inc. | 33598 | 1072784 |
|  West Bancorp, Inc. | 6010 | 122123 |
|  Westamerica Bancorp | 9650 | 482404 |
|  Western New England Bancorp, Inc. | 840 | 10088 |
|  WSFS Financial Corp. | 19101 | 1030117 |
|  |  | 100651576 |
|  ***Capital Markets (3.0%)*** |  |  |
|  Acadian Asset Management, Inc. | 12108 | 583121 |
|  AlTi Global, Inc.\* | 9060 | 32254 |
|  Artisan Partners Asset Management, Inc., Class A | 22740 | 986916 |
|  Bakkt Holdings, Inc., Class A(x)\* | 3800 | 127870 |
|  BGC Group, Inc., Class A | 133260 | 1260640 |
|  Cohen & Steers, Inc. | 9166 | 601381 |
|  Diamond Hill Investment Group, Inc. | 1360 | 190414 |
|  DigitalBridge Group, Inc. | 60275 | 705217 |
|  Donnelley Financial Solutions, Inc.\* | 9220 | 474185 |
|  Forge Global Holdings, Inc.\* | 4706 | 79531 |
|  GCM Grosvenor, Inc., Class A(x) | 10360 | 125045 |
|  Marex Group plc | 19300 | 648866 |
|  MarketWise, Inc. | 785 | 12976 |
|  Moelis & Co., Class A | 26090 | 1860739 |
|  Open Lending Corp.\* | 46160 | 97398 |
|  P10, Inc., Class A(x) | 19850 | 215968 |
|  Patria Investments Ltd., Class A | 20850 | 304410 |
|  Perella Weinberg Partners, Class A | 18370 | 391648 |
|  Piper Sandler Cos. | 6460 | 2241555 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value<br>(Note 1)** |
|  PJT Partners, Inc., Class A | 88113 | $15660323 |
|  Siebert Financial Corp.\* | 1700 | 4964 |
|  Silvercrest Asset Management Group, Inc., Class A | 2600 | 40950 |
|  StepStone Group, Inc., Class A | 25030 | 1634709 |
|  Stifel Financial Corp. | 118077 | 13398197 |
|  StoneX Group, Inc.\* | 15803 | 1594839 |
|  TPG, Inc., Class A | 229103 | 13161967 |
|  Value Line, Inc. | 510 | 19931 |
|  Victory Capital Holdings, Inc., Class A | 16110 | 1043284 |
|  Virtus Investment Partners, Inc. | 2585 | 491228 |
|  Westwood Holdings Group, Inc. | 400 | 6596 |
|  WisdomTree, Inc.(x) | 39000 | 542100 |
|  |  | 58539222 |
|  ***Consumer Finance (1.2%)*** |  |  |
|  Atlanticus Holdings Corp.\* | 2300 | 134734 |
|  Bread Financial Holdings, Inc. | 18200 | 1015014 |
|  Consumer Portfolio Services, Inc.\* | 2850 | 21517 |
|  Dave, Inc.\* | 3400 | 677790 |
|  Encore Capital Group, Inc.\* | 7180 | 299693 |
|  Enova International, Inc.\* | 8820 | 1015094 |
|  Figure Technology Solutions, Inc., Class A\* | 173434 | 6307795 |
|  FirstCash Holdings, Inc. | 58315 | 9238262 |
|  Green Dot Corp., Class A\* | 17660 | 237174 |
|  LendingClub Corp.\* | 38200 | 580258 |
|  LendingTree, Inc.\* | 3600 | 233028 |
|  Medallion Financial Corp. | 1870 | 18887 |
|  Navient Corp. | 35497 | 466786 |
|  Nelnet, Inc., Class A | 5530 | 693351 |
|  NerdWallet, Inc., Class A\* | 9600 | 103296 |
|  OppFi, Inc. | 11320 | 128256 |
|  PRA Group, Inc.\* | 17960 | 277302 |
|  PROG Holdings, Inc. | 11960 | 387026 |
|  Regional Management Corp. | 2230 | 86881 |
|  Upstart Holdings, Inc.(x)\* | 30640 | 1556512 |
|  World Acceptance Corp.\* | 820 | 138695 |
|  |  | 23617351 |
|  ***Financial Services (2.2%)*** |  |  |
|  Acacia Research Corp.\* | 15010 | 48783 |
|  Affirm Holdings, Inc., Class A\* | 184570 | 13488376 |
|  Alerus Financial Corp. | 3160 | 69962 |
|  AvidXchange Holdings, Inc.\* | 66390 | 660581 |
|  Banco Latinoamericano de Comercio Exterior SA, Class E | 10240 | 470733 |
|  Better Home & Finance Holding Co.(x)\* | 1000 | 56140 |
|  Burford Capital Ltd.(x) | 76550 | 915538 |
|  Cannae Holdings, Inc. | 17720 | 324453 |
|  Cantaloupe, Inc.\* | 15310 | 161827 |
|  Cass Information Systems, Inc. | 4253 | 167270 |
|  Chime Financial, Inc., Class A(x)\* | 294597 | 5942021 |
|  Compass Diversified Holdings | 22320 | 147758 |
|  Enact Holdings, Inc. | 9390 | 360013 |
|  Essent Group Ltd. | 34940 | 2220786 |
|  Evertec, Inc. | 22336 | 754510 |
|  Federal Agricultural Mortgage Corp., Class C | 3020 | 507300 |
|  Finance of America Cos., Inc., Class A\* | 700 | 15701 |
|  Flywire Corp.\* | 46137 | 624695 |
|  HA Sustainable Infrastructure Capital, Inc.(x) | 42950 | 1318565 |
|  International Money Express, Inc.\* | 11320 | 158140 |
|  Jackson Financial, Inc., Class A | 26460 | 2678546 |
|  loanDepot, Inc., Class A(x)\* | 7800 | 23946 |
|  Marqeta, Inc., Class A\* | 140060 | 739517 |
|  Merchants Bancorp | 9410 | 299238 |
|  NCR Atleos Corp.\* | 27560 | 1083384 |
|  NewtekOne, Inc. | 12300 | 140835 |
|  NMI Holdings, Inc., Class A\* | 26520 | 1016777 |
|  Onity Group, Inc.\* | 1790 | 71528 |
|  Pagseguro Digital Ltd., Class A | 76150 | 761500 |
|  Payoneer Global, Inc.\* | 98700 | 597135 |
|  Paysafe Ltd.(x)\* | 13804 | 178348 |
|  Paysign, Inc.\* | 16730 | 105232 |
|  PennyMac Financial Services, Inc. | 10610 | 1314367 |
|  Priority Technology Holdings, Inc.\* | 13010 | 89379 |
|  Radian Group, Inc. | 47606 | 1724289 |
|  Remitly Global, Inc.\* | 54186 | 883232 |
|  Repay Holdings Corp., Class A\* | 31500 | 164745 |
|  Security National Financial Corp., Class A\* | 525 | 4552 |
|  Sezzle, Inc.\* | 4980 | 396059 |
|  StoneCo Ltd., Class A\* | 87640 | 1657272 |
|  SWK Holdings Corp. | 1010 | 14696 |
|  Triller Group, Inc.\* | 4700 | 3901 |
|  Velocity Financial, Inc.\* | 4810 | 87253 |
|  Walker & Dunlop, Inc. | 11370 | 950759 |
|  Waterstone Financial, Inc. | 4770 | 74412 |
|  |  | 43474054 |
|  ***Insurance (1.8%)*** |  |  |
|  Abacus Global Management, Inc.\* | 8900 | 50997 |
|  Accelerant Holdings, Class A\* | 262723 | 3911945 |
|  Ambac Financial Group, Inc.\* | 19430 | 162046 |
|  American Coastal Insurance Corp. | 11560 | 131668 |
|  American Integrity Insurance Group, Inc.\* | 1500 | 33465 |
|  AMERISAFE, Inc. | 8790 | 385354 |
|  Ategrity Specialty Holdings LLC\* | 1600 | 31632 |
|  Baldwin Insurance Group, Inc. (The), Class A(x)\* | 24350 | 686914 |
|  Bowhead Specialty Holdings, Inc.\* | 5700 | 154128 |
|  Citizens, Inc., Class A(x)\* | 3500 | 18375 |
|  CNO Financial Group, Inc. | 36610 | 1447925 |
|  Crawford & Co., Class A | 9850 | 105395 |
|  Donegal Group, Inc., Class A | 6660 | 129137 |
|  eHealth, Inc.\* | 5100 | 21981 |
|  Employers Holdings, Inc. | 8781 | 373017 |
|  F&G Annuities & Life, Inc. | 6980 | 218265 |
|  Fidelis Insurance Holdings Ltd.(x) | 22060 | 400389 |
|  Genworth Financial, Inc., Class A\* | 137538 | 1224088 |
|  GoHealth, Inc., Class A\* | 3210 | 15472 |
|  Goosehead Insurance, Inc., Class A | 8260 | 614709 |
|  Greenlight Capital Re Ltd., Class A\* | 8176 | 103835 |
|  Hamilton Insurance Group Ltd., Class B\* | 14860 | 368528 |
|  HCI Group, Inc. | 3700 | 710141 |
|  Heritage Insurance Holdings, Inc.\* | 8190 | 206224 |
|  Hippo Holdings, Inc.\* | 5675 | 205208 |
|  Horace Mann Educators Corp. | 13360 | 603471 |
|  Investors Title Co. | 930 | 249082 |
|  James River Group Holdings Ltd. | 28410 | 157676 |
|  Kestrel Group Ltd. | 1329 | 36295 |
|  Kingstone Cos., Inc. | 3900 | 57330 |
|  Kingsway Financial Services, Inc.\* | 5280 | 77194 |
|  Kinsale Capital Group, Inc. | 28950 | 12311277 |
|  Lemonade, Inc.(x)\* | 19000 | 1017070 |
|  MBIA, Inc.\* | 25900 | 192955 |
|  Mercury General Corp. | 9700 | 822366 |
|  NI Holdings, Inc.\* | 5020 | 68071 |
|  Oscar Health, Inc., Class A\* | 63780 | 1207355 |
|  Palomar Holdings, Inc.\* | 9480 | 1106790 |
|  ProAssurance Corp.\* | 18100 | 434219 |
|  Root, Inc., Class A(x)\* | 3880 | 347299 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value<br>(Note 1)** |
|  Safety Insurance Group, Inc. | 5424 | $383423 |
|  Selective Insurance Group, Inc. | 21440 | 1738141 |
|  Selectquote, Inc.\* | 35549 | 69676 |
|  SiriusPoint Ltd.\* | 36000 | 651240 |
|  Skyward Specialty Insurance Group, Inc.\* | 14190 | 674876 |
|  Slide Insurance Holdings, Inc.\* | 13800 | 217833 |
|  Stewart Information Services Corp. | 9490 | 695807 |
|  Tiptree, Inc., Class A | 8570 | 164287 |
|  Trupanion, Inc.\* | 13560 | 586877 |
|  United Fire Group, Inc. | 7190 | 218720 |
|  Universal Insurance Holdings, Inc. | 8450 | 222235 |
|  |  | 36022403 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.4%)*** |  |  |
|  ACRES Commercial Realty Corp. (REIT)\* | 600 | 12696 |
|  Adamas Trust, Inc. (REIT) | 25860 | 180244 |
|  Advanced Flower Capital, Inc. (REIT)(x) | 16840 | 64497 |
|  AG Mortgage Investment Trust, Inc. (REIT) | 12020 | 87025 |
|  Angel Oak Mortgage REIT, Inc. (REIT) | 8260 | 77396 |
|  Apollo Commercial Real Estate Finance, Inc. (REIT) | 52888 | 535755 |
|  Arbor Realty Trust, Inc. (REIT)(x) | 62990 | 769108 |
|  Ares Commercial Real Estate Corp. (REIT)(x) | 38980 | 175800 |
|  ARMOUR Residential REIT, Inc. (REIT)(x) | 35587 | 531670 |
|  Blackstone Mortgage Trust, Inc. (REIT), Class A(x) | 56900 | 1047529 |
|  BrightSpire Capital, Inc. (REIT), Class A | 47630 | 258631 |
|  Chicago Atlantic Real Estate Finance, Inc. (REIT) | 10050 | 128539 |
|  Chimera Investment Corp. (REIT) | 16966 | 224290 |
|  Claros Mortgage Trust, Inc. (REIT)\* | 59700 | 198204 |
|  Dynex Capital, Inc. (REIT)(x) | 38410 | 472059 |
|  Ellington Financial, Inc. (REIT) | 27810 | 360974 |
|  Franklin BSP Realty Trust, Inc. (REIT) | 30600 | 332316 |
|  Invesco Mortgage Capital, Inc. (REIT)(x) | 40589 | 306853 |
|  KKR Real Estate Finance Trust, Inc. (REIT) | 18800 | 169200 |
|  Ladder Capital Corp. (REIT) | 37467 | 408765 |
|  Lument Finance Trust, Inc. (REIT)(x) | 2900 | 5858 |
|  MFA Financial, Inc. (REIT) | 38105 | 350185 |
|  Nexpoint Real Estate Finance, Inc. (REIT) | 4460 | 63243 |
|  Orchid Island Capital, Inc. (REIT)(x) | 54210 | 380012 |
|  PennyMac Mortgage Investment Trust (REIT)(x) | 28873 | 353983 |
|  Ready Capital Corp. (REIT)(x) | 66972 | 259182 |
|  Redwood Trust, Inc. (REIT) | 57300 | 331767 |
|  Rithm Property Trust, Inc. (REIT) | 4500 | 11340 |
|  Seven Hills Realty Trust (REIT) | 2680 | 27631 |
|  Sunrise Realty Trust, Inc. (REIT) | 6246 | 64896 |
|  TPG RE Finance Trust, Inc. (REIT) | 21380 | 183013 |
|  Two Harbors Investment Corp. (REIT)(x) | 31505 | 310954 |
|  |  | 8683615 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 270988221 |
|  **Health Care (17.7%)** |  |  |
|  ***Biotechnology (9.3%)*** |  |  |
|  4D Molecular Therapeutics, Inc.\* | 28400 | 246796 |
|  89bio, Inc.\* | 40150 | 590205 |
|  Abeona Therapeutics, Inc.\* | 8960 | 47309 |
|  Absci Corp.(x)\* | 55020 | 167261 |
|  ACADIA Pharmaceuticals, Inc.\* | 45320 | 967129 |
|  Actuate Therapeutics, Inc.\* | 940 | 6289 |
|  ADC Therapeutics SA\* | 16530 | 66120 |
|  ADMA Biologics, Inc.\* | 80740 | 1183648 |
|  Agios Pharmaceuticals, Inc.\* | 20370 | 817652 |
|  Akebia Therapeutics, Inc.(x)\* | 78660 | 214742 |
|  Akero Therapeutics, Inc.\* | 147520 | 7004250 |
|  Aldeyra Therapeutics, Inc.\* | 35440 | 184997 |
|  Alector, Inc.\* | 36880 | 109165 |
|  Alkermes plc\* | 57620 | 1728600 |
|  Allogene Therapeutics, Inc.\* | 106637 | 132230 |
|  Altimmune, Inc.(x)\* | 23570 | 88859 |
|  Amicus Therapeutics, Inc.\* | 105789 | 833617 |
|  AnaptysBio, Inc.\* | 7730 | 236693 |
|  Anavex Life Sciences Corp.(x)\* | 38020 | 338378 |
|  Anika Therapeutics, Inc.\* | 7250 | 68150 |
|  Annexon, Inc.\* | 49280 | 150304 |
|  Apogee Therapeutics, Inc.\* | 118673 | 4714878 |
|  Arbutus Biopharma Corp.\* | 54260 | 246340 |
|  Arcellx, Inc.\* | 12170 | 999157 |
|  Arcturus Therapeutics Holdings, Inc.\* | 10200 | 187986 |
|  Arcus Biosciences, Inc.\* | 20000 | 272000 |
|  Arcutis Biotherapeutics, Inc.\* | 40580 | 764933 |
|  Ardelyx, Inc.\* | 81640 | 449836 |
|  ArriVent Biopharma, Inc.(x)\* | 10580 | 195201 |
|  Arrowhead Pharmaceuticals, Inc.\* | 39650 | 1367528 |
|  ARS Pharmaceuticals, Inc.(x)\* | 203196 | 2042120 |
|  Ascendis Pharma A/S (ADR)\* | 27698 | 5506639 |
|  Astria Therapeutics, Inc.\* | 22800 | 165984 |
|  aTyr Pharma, Inc.(x)\* | 27600 | 19911 |
|  Aura Biosciences, Inc.(x)\* | 15780 | 97520 |
|  Aurinia Pharmaceuticals, Inc.\* | 30600 | 338130 |
|  Avidity Biosciences, Inc.\* | 36550 | 1592483 |
|  Avita Medical, Inc.(x)\* | 8730 | 44610 |
|  Beam Therapeutics, Inc.(x)\* | 32820 | 796541 |
|  Benitec Biopharma, Inc.\* | 1040 | 14591 |
|  Bicara Therapeutics, Inc.\* | 15460 | 244113 |
|  BioCryst Pharmaceuticals, Inc.\* | 77400 | 587466 |
|  Biohaven Ltd.\* | 28680 | 430487 |
|  Bridgebio Pharma, Inc.\* | 209813 | 10897687 |
|  Bright Minds Biosciences, Inc.\* | 190 | 11525 |
|  Candel Therapeutics, Inc.(x)\* | 25630 | 130713 |
|  Capricor Therapeutics, Inc.(x)\* | 27700 | 199717 |
|  Cardiff Oncology, Inc.\* | 18550 | 38213 |
|  CareDx, Inc.\* | 16490 | 239765 |
|  Cartesian Therapeutics, Inc.(x)\* | 4437 | 45346 |
|  Catalyst Pharmaceuticals, Inc.\* | 42700 | 841190 |
|  Celcuity, Inc.\* | 10580 | 522652 |
|  Celldex Therapeutics, Inc.\* | 22630 | 585438 |
|  CG oncology, Inc.(x)\* | 170955 | 6886067 |
|  Cidara Therapeutics, Inc.\* | 6120 | 586051 |
|  Cogent Biosciences, Inc.\* | 46590 | 669032 |
|  Coherus Oncology, Inc.(x)\* | 79950 | 131118 |
|  Compass Therapeutics, Inc.\* | 54940 | 192290 |
|  Corvus Pharmaceuticals, Inc.(x)\* | 8560 | 63087 |
|  CRISPR Therapeutics AG(x)\* | 30140 | 1953373 |
|  Cullinan Therapeutics, Inc.\* | 19420 | 115161 |
|  Cytokinetics, Inc.\* | 42670 | 2345143 |
|  Day One Biopharmaceuticals, Inc.\* | 23590 | 166309 |
|  Denali Therapeutics, Inc.\* | 312866 | 4542814 |
|  Design Therapeutics, Inc.(x)\* | 13910 | 104742 |
|  DiaMedica Therapeutics, Inc.\* | 1340 | 9206 |
|  Dianthus Therapeutics, Inc.\* | 9130 | 359265 |
|  Disc Medicine, Inc.\* | 8190 | 541195 |
|  Dynavax Technologies Corp.(x)\* | 47500 | 471675 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value<br>(Note 1)** |
|  Dyne Therapeutics, Inc.\* | 39140 | $495121 |
|  Editas Medicine, Inc.\* | 62920 | 218332 |
|  Eledon Pharmaceuticals, Inc.\* | 2330 | 6035 |
|  Emergent BioSolutions, Inc.\* | 9540 | 84143 |
|  Enanta Pharmaceuticals, Inc.\* | 11810 | 141366 |
|  Entrada Therapeutics, Inc.\* | 7110 | 41238 |
|  Erasca, Inc.\* | 77210 | 168318 |
|  Fate Therapeutics, Inc.\* | 78160 | 98482 |
|  Fennec Pharmaceuticals, Inc.(x)\* | 4970 | 46519 |
|  Foghorn Therapeutics, Inc.\* | 7520 | 36773 |
|  Geron Corp.\* | 219980 | 301373 |
|  Gossamer Bio, Inc.\* | 68070 | 179024 |
|  GRAIL, Inc.\* | 11110 | 656934 |
|  Greenwich Lifesciences, Inc.\* | 740 | 7363 |
|  Gyre Therapeutics, Inc.(x)\* | 7540 | 56248 |
|  Halozyme Therapeutics, Inc.\* | 119881 | 8792073 |
|  Heron Therapeutics, Inc.(x)\* | 77480 | 97625 |
|  Humacyte, Inc.(x)\* | 48130 | 83746 |
|  Ideaya Biosciences, Inc.\* | 28550 | 776845 |
|  ImmunityBio, Inc.(x)\* | 83760 | 206050 |
|  Immunome, Inc.(x)\* | 19640 | 229984 |
|  Immunovant, Inc.\* | 20090 | 323851 |
|  Inhibikase Therapeutics, Inc.(x)\* | 1440 | 2333 |
|  Inhibrx Biosciences, Inc.\* | 7100 | 239128 |
|  Inmune Bio, Inc.(x)\* | 9660 | 19996 |
|  Insmed, Inc.\* | 108872 | 15678657 |
|  Intellia Therapeutics, Inc.(x)\* | 36800 | 635536 |
|  Iovance Biotherapeutics, Inc.(x)\* | 95920 | 208146 |
|  Ironwood Pharmaceuticals, Inc., Class A\* | 77280 | 101237 |
|  Jade Biosciences, Inc.(x) | 5893 | 50857 |
|  Janux Therapeutics, Inc.\* | 10710 | 261752 |
|  KalVista Pharmaceuticals, Inc.\* | 13410 | 163334 |
|  Keros Therapeutics, Inc.\* | 11260 | 178133 |
|  Kodiak Sciences, Inc.\* | 10890 | 178269 |
|  Korro Bio, Inc.\* | 2940 | 140797 |
|  Krystal Biotech, Inc.\* | 8810 | 1555229 |
|  Kura Oncology, Inc.\* | 26400 | 233640 |
|  Kymera Therapeutics, Inc.\* | 16900 | 956540 |
|  Larimar Therapeutics, Inc.\* | 28980 | 93605 |
|  Legend Biotech Corp. (ADR)\* | 130837 | 4266595 |
|  Lexeo Therapeutics, Inc.\* | 10500 | 69720 |
|  Madrigal Pharmaceuticals, Inc.\* | 6700 | 3073022 |
|  MannKind Corp.\* | 96800 | 519816 |
|  MeiraGTx Holdings plc\* | 17720 | 145836 |
|  Merus NV\* | 67626 | 6366988 |
|  Metsera, Inc.(x)\* | 18043 | 944190 |
|  MiMedx Group, Inc.\* | 49500 | 345510 |
|  Mineralys Therapeutics, Inc.\* | 14030 | 532018 |
|  Mirum Pharmaceuticals, Inc.\* | 14990 | 1098917 |
|  Monopar Therapeutics, Inc.\* | 280 | 22868 |
|  Monte Rosa Therapeutics, Inc.(x)\* | 24740 | 183323 |
|  Myriad Genetics, Inc.\* | 29370 | 212345 |
|  Natera, Inc.\* | 56682 | 9124102 |
|  Neurocrine Biosciences, Inc.\* | 83549 | 11728609 |
|  Neurogene, Inc.(x)\* | 2930 | 50777 |
|  Newamsterdam Pharma Co. NV\* | 171530 | 4878313 |
|  Nkarta, Inc.\* | 33350 | 69035 |
|  Novavax, Inc.(x)\* | 53960 | 467833 |
|  Nurix Therapeutics, Inc.\* | 23120 | 213629 |
|  Nuvalent, Inc., Class A\* | 15650 | 1353412 |
|  Nuvectis Pharma, Inc.(x)\* | 980 | 5900 |
|  Olema Pharmaceuticals, Inc.\* | 25230 | 247002 |
|  Organogenesis Holdings, Inc., Class A\* | 28100 | 118582 |
|  ORIC Pharmaceuticals, Inc.\* | 23780 | 285360 |
|  Palvella Therapeutics, Inc.(x)\* | 880 | 55167 |
|  PDL BioPharma, Inc.(r)\* | 73900 |  |
|  Perspective Therapeutics, Inc.(x)\* | 34730 | 119124 |
|  Praxis Precision Medicines, Inc.\* | 6590 | 349270 |
|  Precigen, Inc.(x)\* | 13860 | 45599 |
|  Prime Medicine, Inc.(x)\* | 22760 | 126090 |
|  Protagonist Therapeutics, Inc.\* | 20800 | 1381744 |
|  Protalix BioTherapeutics, Inc.\* | 5860 | 13009 |
|  Protara Therapeutics, Inc.(x)\* | 2510 | 10918 |
|  Prothena Corp. plc\* | 19760 | 192858 |
|  PTC Therapeutics, Inc.\* | 26570 | 1630601 |
|  Puma Biotechnology, Inc.\* | 6900 | 36639 |
|  Recursion Pharmaceuticals, Inc., Class A(x)\* | 123655 | 603436 |
|  REGENXBIO, Inc.\* | 18700 | 180455 |
|  Relay Therapeutics, Inc.\* | 37500 | 195750 |
|  Replimune Group, Inc.\* | 18280 | 76593 |
|  Rezolute, Inc.\* | 27730 | 260662 |
|  Rhythm Pharmaceuticals, Inc.\* | 86937 | 8779768 |
|  Rigel Pharmaceuticals, Inc.\* | 7629 | 216130 |
|  Rocket Pharmaceuticals, Inc.\* | 51940 | 169324 |
|  Sana Biotechnology, Inc.(x)\* | 59540 | 211367 |
|  Savara, Inc.\* | 49430 | 176465 |
|  Scholar Rock Holding Corp.\* | 28140 | 1047934 |
|  SELLAS Life Sciences Group, Inc.(x)\* | 24980 | 40218 |
|  Sionna Therapeutics, Inc.\* | 1310 | 38527 |
|  Soleno Therapeutics, Inc.(x)\* | 14630 | 988988 |
|  Solid Biosciences, Inc.\* | 29750 | 183558 |
|  Spyre Therapeutics, Inc.\* | 13230 | 221735 |
|  Stoke Therapeutics, Inc.\* | 14010 | 329235 |
|  Syndax Pharmaceuticals, Inc.\* | 31390 | 482935 |
|  Tango Therapeutics, Inc.\* | 25490 | 214116 |
|  Taysha Gene Therapies, Inc.\* | 60470 | 197737 |
|  Tectonic Therapeutic, Inc.\* | 1720 | 26987 |
|  Tevogen Bio Holdings, Inc.(x)\* | 10910 | 8568 |
|  TG Therapeutics, Inc.(x)\* | 52890 | 1910651 |
|  Tonix Pharmaceuticals Holding Corp.(x)\* | 5360 | 129498 |
|  Tourmaline Bio, Inc.\* | 8590 | 410860 |
|  Travere Therapeutics, Inc.\* | 30180 | 721302 |
|  TriSalus Life Sciences, Inc.\* | 580 | 2697 |
|  TuHURA Biosciences, Inc.\* | 2570 | 6374 |
|  Twist Bioscience Corp.\* | 20373 | 573296 |
|  Tyra Biosciences, Inc.(x)\* | 12060 | 168719 |
|  Upstream Bio, Inc.(x)\* | 10140 | 190733 |
|  UroGen Pharma Ltd.\* | 13930 | 277904 |
|  Vanda Pharmaceuticals, Inc.\* | 35543 | 177360 |
|  Vaxcyte, Inc.\* | 39040 | 1406221 |
|  Vera Therapeutics, Inc., Class A\* | 18740 | 544584 |
|  Veracyte, Inc.\* | 28100 | 964673 |
|  Verastem, Inc.\* | 17050 | 150552 |
|  Vericel Corp.\* | 16440 | 517367 |
|  Vir Biotechnology, Inc.\* | 33400 | 190714 |
|  Viridian Therapeutics, Inc.\* | 23900 | 515762 |
|  Voyager Therapeutics, Inc.\* | 28520 | 133188 |
|  Xencor, Inc.\* | 24440 | 286681 |
|  Xenon Pharmaceuticals, Inc.\* | 148140 | 5947821 |
|  XOMA Royalty Corp.\* | 2000 | 77080 |
|  Zenas Biopharma, Inc.(x)\* | 7410 | 164502 |
|  Zymeworks, Inc.\* | 20200 | 345016 |
|  |  | 183403018 |
|  ***Health Care Equipment & Supplies (2.8%)*** |  |  |
|  Accuray, Inc.\* | 27820 | 46459 |
|  Alphatec Holdings, Inc.\* | 41540 | 603992 |
|  AngioDynamics, Inc.\* | 21340 | 238368 |
|  Anteris Technologies Global Corp.(x)\* | 2300 | 10350 |
|  Artivion, Inc.\* | 11300 | 478442 |
|  AtriCure, Inc.\* | 296191 | 10440733 |
|  Avanos Medical, Inc.\* | 17200 | 198832 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value<br>(Note 1)** |
|  Axogen, Inc.\* | 16580 | $295787 |
|  Beta Bionics, Inc.(x)\* | 10900 | 216583 |
|  Bioventus, Inc., Class A\* | 6920 | 46295 |
|  Butterfly Network, Inc., Class A\* | 31100 | 60023 |
|  Ceribell, Inc.\* | 7200 | 82728 |
|  Cerus Corp.\* | 81590 | 129728 |
|  ClearPoint Neuro, Inc.(x)\* | 9400 | 204826 |
|  CONMED Corp. | 10111 | 475520 |
|  CVRx, Inc.\* | 11480 | 92644 |
|  Delcath Systems, Inc.(x)\* | 5300 | 56975 |
|  Electromed, Inc.\* | 600 | 14730 |
|  Embecta Corp. | 20900 | 294899 |
|  Enovis Corp.\* | 20800 | 631072 |
|  Glaukos Corp.\* | 153335 | 12504469 |
|  Haemonetics Corp.\* | 18070 | 880732 |
|  ICU Medical, Inc.\* | 8190 | 982472 |
|  Inogen, Inc.\* | 20320 | 166014 |
|  Integer Holdings Corp.\* | 12370 | 1278192 |
|  Integra LifeSciences Holdings Corp.\* | 26180 | 375159 |
|  iRadimed Corp. | 3650 | 259734 |
|  iRhythm Technologies, Inc.\* | 11606 | 1996116 |
|  Kestra Medical Technologies Ltd.(x)\* | 2800 | 66528 |
|  KORU Medical Systems, Inc.\* | 1800 | 6894 |
|  Lantheus Holdings, Inc.\* | 25240 | 1294560 |
|  LeMaitre Vascular, Inc. | 7200 | 630072 |
|  LENSAR, Inc.\* | 1100 | 13585 |
|  LivaNova plc\* | 20032 | 1049276 |
|  Lucid Diagnostics, Inc.\* | 11100 | 11211 |
|  Merit Medical Systems, Inc.\* | 21345 | 1776544 |
|  Myomo, Inc.(x)\* | 6000 | 5352 |
|  Neogen Corp.\* | 84112 | 480280 |
|  Neuronetics, Inc.(x)\* | 6000 | 16380 |
|  NeuroPace, Inc.\* | 4170 | 42993 |
|  Novocure Ltd.\* | 40680 | 525586 |
|  Omnicell, Inc.\* | 18100 | 551145 |
|  OraSure Technologies, Inc.\* | 56720 | 182071 |
|  Orthofix Medical, Inc.\* | 18985 | 277940 |
|  OrthoPediatrics Corp.\* | 7160 | 132675 |
|  Outset Medical, Inc.(x)\* | 4000 | 56480 |
|  PROCEPT BioRobotics Corp.(x)\* | 286951 | 10241281 |
|  Pro-Dex, Inc.(x)\* | 500 | 16925 |
|  Pulmonx Corp.\* | 26110 | 42298 |
|  Pulse Biosciences, Inc.\* | 9090 | 160893 |
|  QuidelOrtho Corp.\* | 24700 | 727415 |
|  RxSight, Inc.\* | 13000 | 116870 |
|  Sanara Medtech, Inc.\* | 930 | 29509 |
|  SANUWAVE Health, Inc.\* | 1100 | 41228 |
|  Semler Scientific, Inc.(x)\* | 5930 | 177900 |
|  SI-BONE, Inc.\* | 11450 | 168544 |
|  Sight Sciences, Inc.\* | 9100 | 31304 |
|  STAAR Surgical Co.\* | 19100 | 513217 |
|  Stereotaxis, Inc.\* | 5390 | 16763 |
|  Surmodics, Inc.\* | 4240 | 126734 |
|  Tactile Systems Technology, Inc.\* | 14080 | 194867 |
|  Tandem Diabetes Care, Inc.\* | 24740 | 300344 |
|  TransMedics Group, Inc.(x)\* | 11900 | 1335180 |
|  Treace Medical Concepts, Inc.\* | 25310 | 169830 |
|  UFP Technologies, Inc.\* | 2700 | 538920 |
|  Utah Medical Products, Inc. | 2050 | 129088 |
|  Varex Imaging Corp.\* | 12160 | 150784 |
|  Zimvie, Inc.\* | 8070 | 152846 |
|  |  | 55564186 |
|  ***Health Care Providers & Services (2.9%)*** |  |  |
|  AdaptHealth Corp., Class A\* | 32575 | 291546 |
|  Addus HomeCare Corp.\* | 6900 | 814131 |
|  agilon health, Inc.\* | 117850 | 121386 |
|  AirSculpt Technologies, Inc.(x)\* | 15690 | 125834 |
|  Alignment Healthcare, Inc.\* | 46490 | 811251 |
|  AMN Healthcare Services, Inc.\* | 16300 | 315568 |
|  Ardent Health, Inc.\* | 7100 | 94075 |
|  Astrana Health, Inc.(x)\* | 14500 | 411075 |
|  Aveanna Healthcare Holdings, Inc.\* | 20510 | 181924 |
|  BrightSpring Health Services, Inc.(x)\* | 428412 | 12663859 |
|  Brookdale Senior Living, Inc.\* | 83580 | 707923 |
|  Castle Biosciences, Inc.\* | 9250 | 210623 |
|  Clover Health Investments Corp., Class A\* | 147000 | 449820 |
|  Community Health Systems, Inc.\* | 44300 | 142203 |
|  Concentra Group Holdings Parent, Inc. | 39959 | 836342 |
|  CorVel Corp.\* | 10600 | 820652 |
|  Cross Country Healthcare, Inc.\* | 10380 | 147396 |
|  DocGo, Inc.(x)\* | 59520 | 80947 |
|  Encompass Health Corp. | 100073 | 12711272 |
|  Enhabit, Inc.\* | 18670 | 149547 |
|  Ensign Group, Inc. (The) | 20460 | 3534874 |
|  Fulgent Genetics, Inc.\* | 7810 | 176506 |
|  GeneDx Holdings Corp., Class A\* | 6860 | 739096 |
|  Guardant Health, Inc.\* | 42620 | 2662898 |
|  HealthEquity, Inc.\* | 30290 | 2870583 |
|  Hims & Hers Health, Inc.(x)\* | 69370 | 3934666 |
|  Innovage Holding Corp.\* | 5900 | 30444 |
|  Joint Corp. (The)\* | 10680 | 101887 |
|  LifeStance Health Group, Inc.\* | 52350 | 287925 |
|  Nano-X Imaging Ltd.(x)\* | 41400 | 153180 |
|  National HealthCare Corp. | 4020 | 488470 |
|  National Research Corp. | 6680 | 85370 |
|  NeoGenomics, Inc.\* | 43800 | 338136 |
|  Oncology Institute, Inc. (The)\* | 19000 | 66310 |
|  OPKO Health, Inc.\* | 116780 | 181009 |
|  Option Care Health, Inc.\* | 60020 | 1666155 |
|  Owens & Minor, Inc.\* | 32050 | 153840 |
|  PACS Group, Inc.\* | 14820 | 203479 |
|  Pediatrix Medical Group, Inc.\* | 30200 | 505850 |
|  Pennant Group, Inc. (The)\* | 12610 | 318024 |
|  Performant Healthcare, Inc.(x)\* | 6470 | 50013 |
|  Premier, Inc., Class A | 26100 | 725580 |
|  Privia Health Group, Inc.\* | 41867 | 1042488 |
|  Progyny, Inc.\* | 29100 | 626232 |
|  RadNet, Inc.\* | 25260 | 1925065 |
|  SBC Medical Group Holdings, Inc.(x)\* | 1000 | 4340 |
|  Select Medical Holdings Corp. | 39319 | 504856 |
|  Sonida Senior Living, Inc.\* | 900 | 24948 |
|  Surgery Partners, Inc.\* | 29100 | 629724 |
|  Talkspace, Inc.\* | 28740 | 79322 |
|  US Physical Therapy, Inc. | 6200 | 526690 |
|  Viemed Healthcare, Inc.\* | 6900 | 46851 |
|  |  | 56772185 |
|  ***Health Care Technology (0.7%)*** |  |  |
|  Claritev Corp.(x)\* | 1200 | 63696 |
|  Definitive Healthcare Corp., Class A\* | 43170 | 175270 |
|  Evolent Health, Inc., Class A\* | 42230 | 357266 |
|  Health Catalyst, Inc.\* | 30120 | 85842 |
|  HealthStream, Inc. | 7430 | 209823 |
|  LifeMD, Inc.(x)\* | 16030 | 108844 |
|  OptimizeRx Corp.\* | 11000 | 225500 |
|  Phreesia, Inc.\* | 18900 | 444528 |
|  Schrodinger, Inc.\* | 17800 | 357068 |
|  Simulations Plus, Inc.\* | 6300 | 94941 |
|  Teladoc Health, Inc.(x)\* | 64030 | 494952 |
|  TruBridge, Inc.\* | 1300 | 26221 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value<br>(Note 1)** |
|  Waystar Holding Corp.\* | 301214 | $11422035 |
|  |  | 14065986 |
|  ***Life Sciences Tools & Services (0.8%)*** |  |  |
|  10X Genomics, Inc., Class A(x)\* | 38500 | 450065 |
|  Adaptive Biotechnologies Corp.\* | 53130 | 794825 |
|  Alpha Teknova, Inc.(x)\* | 2500 | 15475 |
|  Azenta, Inc.\* | 14900 | 427928 |
|  BioLife Solutions, Inc.\* | 12300 | 313773 |
|  Codexis, Inc.\* | 40840 | 99650 |
|  CryoPort, Inc.\* | 25170 | 238612 |
|  Cytek Biosciences, Inc.\* | 37342 | 129577 |
|  Fortrea Holdings, Inc.\* | 32700 | 275334 |
|  Ginkgo Bioworks Holdings, Inc., Class A\* | 10530 | 153527 |
|  Lifecore Biomedical, Inc.\* | 2190 | 16118 |
|  Maravai LifeSciences Holdings, Inc., Class A(x)\* | 79090 | 226988 |
|  MaxCyte, Inc.\* | 29330 | 46341 |
|  Mesa Laboratories, Inc. | 2300 | 154123 |
|  Niagen Bioscience, Inc.\* | 50 | 467 |
|  OmniAb, Inc.\* | 56484 | 90374 |
|  Pacific Biosciences of California, Inc.(x)\* | 130370 | 166874 |
|  Personalis, Inc.\* | 10400 | 67808 |
|  Quanterix Corp.(x)\* | 13980 | 75911 |
|  Quantum-Si, Inc.(x)\* | 101760 | 143482 |
|  Repligen Corp.\* | 88124 | 11779535 |
|  Standard BioTools, Inc.\* | 115250 | 149825 |
|  |  | 15816612 |
|  ***Pharmaceuticals (1.2%)*** |  |  |
|  Aardvark Therapeutics, Inc.\* | 500 | 6645 |
|  Aclaris Therapeutics, Inc.\* | 7600 | 14440 |
|  Alumis, Inc.\* | 31082 | 124017 |
|  Amneal Pharmaceuticals, Inc.\* | 60790 | 608508 |
|  Amphastar Pharmaceuticals, Inc.\* | 16400 | 437060 |
|  Amylyx Pharmaceuticals, Inc.\* | 24900 | 338391 |
|  ANI Pharmaceuticals, Inc.\* | 6100 | 558760 |
|  Aquestive Therapeutics, Inc.(x)\* | 30160 | 168594 |
|  Arvinas, Inc.\* | 24540 | 209081 |
|  Atea Pharmaceuticals, Inc.\* | 45730 | 132617 |
|  Avadel Pharmaceuticals plc (ADR)\* | 35310 | 539184 |
|  Axsome Therapeutics, Inc.\* | 13920 | 1690584 |
|  BioAge Labs, Inc.\* | 4000 | 23520 |
|  Biote Corp., Class A\* | 5300 | 15900 |
|  Collegium Pharmaceutical, Inc.\* | 10700 | 374393 |
|  CorMedix, Inc.(x)\* | 20440 | 237717 |
|  Crinetics Pharmaceuticals, Inc.\* | 32630 | 1359039 |
|  Edgewise Therapeutics, Inc.\* | 27730 | 449781 |
|  Enliven Therapeutics, Inc.\* | 13450 | 275321 |
|  Esperion Therapeutics, Inc.(x)\* | 49030 | 129930 |
|  Eton Pharmaceuticals, Inc.\* | 4800 | 104304 |
|  Evolus, Inc.\* | 25280 | 155219 |
|  EyePoint Pharmaceuticals, Inc.\* | 19120 | 272269 |
|  Fulcrum Therapeutics, Inc.\* | 28210 | 259532 |
|  Harmony Biosciences Holdings, Inc.\* | 15940 | 439306 |
|  Harrow, Inc.(x)\* | 11060 | 532871 |
|  Indivior plc\* | 44200 | 1065662 |
|  Innoviva, Inc.\* | 20000 | 365000 |
|  Journey Medical Corp.\* | 1100 | 7832 |
|  LENZ Therapeutics, Inc.\* | 5588 | 260289 |
|  Ligand Pharmaceuticals, Inc.\* | 6550 | 1160267 |
|  Liquidia Corp.\* | 22020 | 500735 |
|  Maze Therapeutics, Inc.(x)\* | 4800 | 124464 |
|  MBX Biosciences, Inc.\* | 2700 | 47250 |
|  MediWound Ltd.\* | 1250 | 22525 |
|  Mind Medicine MindMed, Inc.\* | 27500 | 324225 |
|  Nuvation Bio, Inc.(x)\* | 67409 | 249413 |
|  Ocular Therapeutix, Inc.\* | 309589 | 3619095 |
|  Omeros Corp.(x)\* | 28600 | 117260 |
|  Pacira BioSciences, Inc.\* | 16500 | 425205 |
|  Phathom Pharmaceuticals, Inc.\* | 19610 | 230810 |
|  Phibro Animal Health Corp., Class A | 5300 | 214438 |
|  Prestige Consumer Healthcare, Inc.\* | 18560 | 1158144 |
|  Rapport Therapeutics, Inc.\* | 5100 | 151470 |
|  scPharmaceuticals, Inc.\* | 9470 | 53695 |
|  Septerna, Inc.(x)\* | 8300 | 156123 |
|  SIGA Technologies, Inc.(x) | 29780 | 272487 |
|  Supernus Pharmaceuticals, Inc.\* | 17900 | 855441 |
|  Tarsus Pharmaceuticals, Inc.\* | 13810 | 820728 |
|  Terns Pharmaceuticals, Inc.\* | 40270 | 302428 |
|  Theravance Biopharma, Inc.\* | 18300 | 267180 |
|  Third Harmonic Bio, Inc.(r)\* | 5570 |  |
|  Trevi Therapeutics, Inc.\* | 53500 | 489525 |
|  Tvardi Therapeutics, Inc.\* | 800 | 31176 |
|  WaVe Life Sciences Ltd.\* | 33450 | 244854 |
|  Xeris Biopharma Holdings, Inc.\* | 54450 | 443223 |
|  Zevra Therapeutics, Inc.\* | 19760 | 187918 |
|  |  | 23625845 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 349247832 |
|  **Industrials (19.9%)** |  |  |
|  ***Aerospace & Defense (5.8%)*** |  |  |
|  AAR Corp.\* | 13000 | 1165710 |
|  AeroVironment, Inc.\* | 11575 | 3644852 |
|  AerSale Corp.\* | 13700 | 112203 |
|  Archer Aviation, Inc., Class A\* | 198580 | 1902396 |
|  Astronics Corp.\* | 10400 | 474344 |
|  BWX Technologies, Inc. | 89034 | 16415199 |
|  Byrna Technologies, Inc.(x)\* | 6150 | 136284 |
|  Cadre Holdings, Inc. | 12930 | 472074 |
|  Curtiss-Wright Corp. | 25108 | 13632138 |
|  Ducommun, Inc.\* | 4930 | 473921 |
|  Eve Holding, Inc.(x)\* | 10240 | 39014 |
|  Intuitive Machines, Inc.(x)\* | 39850 | 419222 |
|  Kratos Defense & Security Solutions, Inc.\* | 307527 | 28098742 |
|  Loar Holdings, Inc.\* | 150594 | 12047520 |
|  Mercury Systems, Inc.\* | 18250 | 1412550 |
|  Moog, Inc., Class A | 9800 | 2035166 |
|  National Presto Industries, Inc. | 1870 | 209720 |
|  Park Aerospace Corp. | 3000 | 61020 |
|  Redwire Corp.(x)\* | 21050 | 189240 |
|  Rocket Lab Corp.(x)\* | 378644 | 18140834 |
|  Satellogic, Inc., Class A(x)\* | 13460 | 44149 |
|  StandardAero, Inc.\* | 397479 | 10847202 |
|  V2X, Inc.\* | 5970 | 346797 |
|  VSE Corp. | 7400 | 1230176 |
|  |  | 113550473 |
|  ***Air Freight & Logistics (0.0%)†*** |  |  |
|  Forward Air Corp.(x)\* | 6450 | 165378 |
|  Hub Group, Inc., Class A | 21240 | 731506 |
|  Radiant Logistics, Inc.\* | 5990 | 35341 |
|  |  | 932225 |
|  ***Building Products (2.1%)*** |  |  |
|  American Woodmark Corp.\* | 5100 | 340476 |
|  Apogee Enterprises, Inc. | 8230 | 358581 |
|  Armstrong World Industries, Inc. | 79498 | 15582403 |
|  AZZ, Inc. | 10610 | 1157869 |
|  CSW Industrials, Inc. | 5410 | 1313277 |
|  Gibraltar Industries, Inc.\* | 10370 | 651236 |
|  Griffon Corp. | 13880 | 1056962 |
|  Insteel Industries, Inc. | 6800 | 260712 |
|  Janus International Group, Inc.\* | 54200 | 534954 |
|  JELD-WEN Holding, Inc.\* | 11727 | 57580 |
|  Masterbrand, Inc.\* | 49750 | 655207 |
|  Quanex Building Products Corp. | 16780 | 238612 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Resideo Technologies, Inc.\* | 48490 | $2093798 |
|  Tecnoglass, Inc. | 8580 | 574088 |
|  UFP Industries, Inc. | 22004 | 2057154 |
|  Zurn Elkay Water Solutions Corp. | 319797 | 15040053 |
|  |  | 41972962 |
|  ***Commercial Services & Supplies (0.8%)*** |  |  |
|  ABM Industries, Inc. | 23150 | 1067678 |
|  ACCO Brands Corp. | 17360 | 69266 |
|  Acme United Corp.(x) | 150 | 6177 |
|  ACV Auctions, Inc., Class A\* | 56530 | 560212 |
|  BrightView Holdings, Inc.\* | 21830 | 292522 |
|  Brink's Co. (The) | 15326 | 1790996 |
|  Casella Waste Systems, Inc., Class A\* | 22687 | 2152543 |
|  CECO Environmental Corp.\* | 11060 | 566272 |
|  Cimpress plc\* | 6700 | 422368 |
|  CompX International, Inc.(x) | 490 | 11466 |
|  CoreCivic, Inc.\* | 40740 | 829059 |
|  Deluxe Corp. | 16600 | 321376 |
|  Driven Brands Holdings, Inc.\* | 22890 | 368758 |
|  Ennis, Inc. | 6550 | 119734 |
|  Enviri Corp.\* | 28440 | 360904 |
|  GEO Group, Inc. (The)\* | 44280 | 907297 |
|  Healthcare Services Group, Inc.\* | 21610 | 363696 |
|  HNI Corp. | 17200 | 805820 |
|  Interface, Inc., Class A | 18510 | 535679 |
|  Liquidity Services, Inc.\* | 7790 | 213680 |
|  MillerKnoll, Inc. | 29440 | 522266 |
|  Mobile Infrastructure Corp., Class A(x)\* | 290 | 1021 |
|  Montrose Environmental Group, Inc.\* | 12150 | 333639 |
|  NL Industries, Inc. | 1470 | 9041 |
|  OPENLANE, Inc.\* | 35644 | 1025834 |
|  Perma-Fix Environmental Services, Inc.(x)\* | 3160 | 31916 |
|  Pitney Bowes, Inc.(x) | 64600 | 737086 |
|  Quad/Graphics, Inc. | 7240 | 45322 |
|  Steelcase, Inc., Class A | 31120 | 535264 |
|  UniFirst Corp. | 5700 | 952983 |
|  Vestis Corp. | 24120 | 109264 |
|  Virco Mfg. Corp.(x) | 3960 | 30690 |
|  |  | 16099829 |
|  ***Construction & Engineering (3.4%)*** |  |  |
|  Ameresco, Inc., Class A(x)\* | 11510 | 386506 |
|  Arcosa, Inc. | 17630 | 1652107 |
|  Argan, Inc. | 4720 | 1274636 |
|  Bowman Consulting Group Ltd., Class A\* | 5770 | 244417 |
|  Centuri Holdings, Inc.\* | 25210 | 533696 |
|  Comfort Systems USA, Inc. | 32922 | 27166576 |
|  Concrete Pumping Holdings, Inc. | 9960 | 70218 |
|  Construction Partners, Inc., Class A\* | 16580 | 2105660 |
|  Dycom Industries, Inc.\* | 10220 | 2981787 |
|  Fluor Corp.\* | 56630 | 2382424 |
|  Granite Construction, Inc.(x) | 165626 | 18160891 |
|  Great Lakes Dredge & Dock Corp.\* | 38830 | 465572 |
|  IES Holdings, Inc.(x)\* | 3050 | 1212832 |
|  Limbach Holdings, Inc.(x)\* | 3650 | 354488 |
|  Matrix Service Co.\* | 2560 | 33485 |
|  MYR Group, Inc.\* | 5290 | 1100479 |
|  NWPX Infrastructure, Inc.\* | 1000 | 52930 |
|  Orion Group Holdings, Inc.\* | 7520 | 62566 |
|  Primoris Services Corp. | 18870 | 2591417 |
|  Southland Holdings, Inc.\* | 1800 | 7722 |
|  Sterling Infrastructure, Inc.\* | 10870 | 3692322 |
|  Tutor Perini Corp.\* | 15460 | 1014021 |
|  |  | 67546752 |
|  ***Electrical Equipment (1.2%)*** |  |  |
|  Allient, Inc. | 5160 | 230910 |
|  American Superconductor Corp.\* | 15640 | 928860 |
|  Amprius Technologies, Inc.(x)\* | 33440 | 351789 |
|  Array Technologies, Inc.(x)\* | 58600 | 477590 |
|  Atkore, Inc. | 14010 | 878987 |
|  Bloom Energy Corp., Class A\* | 75990 | 6426474 |
|  Complete Solaria, Inc.\* | 14100 | 24816 |
|  EnerSys | 13470 | 1521571 |
|  Enovix Corp.(x)\* | 64820 | 646255 |
|  Eos Energy Enterprises, Inc.(x)\* | 91300 | 1039907 |
|  Fluence Energy, Inc., Class A(x)\* | 27200 | 293760 |
|  Hyliion Holdings Corp.(x)\* | 46210 | 91034 |
|  KULR Technology Group, Inc.\* | 14400 | 59904 |
|  LSI Industries, Inc. | 9190 | 216976 |
|  NANO Nuclear Energy, Inc.(x)\* | 11200 | 431872 |
|  Net Power, Inc.(x)\* | 23720 | 71397 |
|  NEXTracker, Inc., Class A\* | 51540 | 3813445 |
|  NuScale Power Corp., Class A(x)\* | 46150 | 1661400 |
|  Plug Power, Inc.(x)\* | 391540 | 912288 |
|  Powell Industries, Inc.(x) | 3450 | 1051595 |
|  Power Solutions International, Inc.\* | 2300 | 225906 |
|  Shoals Technologies Group, Inc., Class A\* | 60200 | 446082 |
|  SKYX Platforms Corp.(x)\* | 5100 | 5712 |
|  Sunrun, Inc.\* | 71810 | 1241595 |
|  T1 Energy, Inc.\* | 40160 | 87549 |
|  Thermon Group Holdings, Inc.\* | 12820 | 342550 |
|  Vicor Corp.\* | 7600 | 377872 |
|  |  | 23858096 |
|  ***Ground Transportation (0.2%)*** |  |  |
|  ArcBest Corp. | 6585 | 460094 |
|  Covenant Logistics Group, Inc., Class A | 4340 | 94004 |
|  FTAI Infrastructure, Inc.(x) | 36040 | 157135 |
|  Heartland Express, Inc. | 8320 | 69722 |
|  Hertz Global Holdings, Inc.(x)\* | 44000 | 299200 |
|  Marten Transport Ltd. | 26949 | 287276 |
|  PAMT Corp.\* | 1400 | 15960 |
|  Proficient Auto Logistics, Inc.(x)\* | 4200 | 28938 |
|  RXO, Inc.\* | 57890 | 890348 |
|  Universal Logistics Holdings, Inc.(x) | 2630 | 61647 |
|  Werner Enterprises, Inc. | 22747 | 598701 |
|  |  | 2963025 |
|  ***Industrial Conglomerates (0.0%)†*** |  |  |
|  Brookfield Business Corp., Class A | 9680 | 324570 |
|  ***Machinery (3.3%)*** |  |  |
|  3D Systems Corp.(x)\* | 50410 | 146189 |
|  Aebi Schmidt Holding AG | 9933 | 123865 |
|  Alamo Group, Inc. | 3760 | 717784 |
|  Albany International Corp., Class A | 11350 | 604955 |
|  Astec Industries, Inc. | 7100 | 341723 |
|  Atmus Filtration Technologies, Inc. | 30639 | 1381513 |
|  Blue Bird Corp.\* | 12280 | 706714 |
|  Chart Industries, Inc.\* | 16440 | 3290466 |
|  Columbus McKinnon Corp. | 9300 | 133362 |
|  Crane Co. | 67925 | 12507710 |
|  Douglas Dynamics, Inc. | 5760 | 180058 |
|  Eastern Co. (The) | 440 | 10322 |
|  Energy Recovery, Inc.\* | 18990 | 292826 |
|  Enerpac Tool Group Corp., Class A | 19740 | 809340 |
|  Enpro, Inc. | 7810 | 1765060 |
|  ESCO Technologies, Inc. | 9584 | 2023278 |
|  Federal Signal Corp. | 21870 | 2602311 |
|  Franklin Electric Co., Inc. | 13580 | 1292816 |
|  Gencor Industries, Inc.\* | 1420 | 20775 |
|  Gorman-Rupp Co. (The) | 8100 | 375921 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Graham Corp.\* | 1590 | $87291 |
|  Greenbrier Cos., Inc. (The) | 11947 | 551593 |
|  Helios Technologies, Inc. | 12000 | 625560 |
|  Hillenbrand, Inc. | 27341 | 739301 |
|  Hillman Solutions Corp.\* | 68330 | 627269 |
|  Hyster-Yale, Inc. | 3250 | 119795 |
|  ITT, Inc. | 75238 | 13449545 |
|  JBT Marel Corp. | 19036 | 2673606 |
|  Kadant, Inc. | 4316 | 1284355 |
|  Kennametal, Inc. | 28200 | 590226 |
|  L B Foster Co., Class A\* | 1230 | 33148 |
|  Lindsay Corp. | 3510 | 493366 |
|  Luxfer Holdings plc | 8030 | 111617 |
|  Manitowoc Co., Inc. (The)\* | 7340 | 73473 |
|  Mayville Engineering Co., Inc.\* | 3720 | 51187 |
|  Microvast Holdings, Inc.(x)\* | 72500 | 279125 |
|  Miller Industries, Inc. | 2950 | 119239 |
|  Mueller Water Products, Inc., Class A | 57820 | 1475566 |
|  Omega Flex, Inc. | 1810 | 56445 |
|  Park-Ohio Holdings Corp. | 1650 | 35046 |
|  Proto Labs, Inc.\* | 7470 | 373724 |
|  REV Group, Inc. | 16020 | 907853 |
|  SPX Technologies, Inc.\* | 17340 | 3238765 |
|  Standex International Corp. | 4520 | 957788 |
|  Tennant Co. | 6900 | 559314 |
|  Terex Corp. | 24780 | 1271214 |
|  Titan International, Inc.\* | 17870 | 135097 |
|  Trinity Industries, Inc. | 29140 | 817086 |
|  Wabash National Corp. | 14600 | 144102 |
|  Watts Water Technologies, Inc., Class A | 10012 | 2796151 |
|  Worthington Enterprises, Inc. | 11699 | 649178 |
|  |  | 64654013 |
|  ***Marine Transportation (0.1%)*** |  |  |
|  Costamare Bulkers Holdings Ltd.\* | 2372 | 34086 |
|  Costamare, Inc. | 11860 | 141253 |
|  Genco Shipping & Trading Ltd.(x) | 15680 | 279104 |
|  Himalaya Shipping Ltd. | 5190 | 42714 |
|  Matson, Inc. | 12180 | 1200826 |
|  Pangaea Logistics Solutions Ltd. | 14280 | 72542 |
|  Safe Bulkers, Inc. | 25610 | 113708 |
|  |  | 1884233 |
|  ***Passenger Airlines (0.3%)*** |  |  |
|  Allegiant Travel Co.\* | 6490 | 394397 |
|  Frontier Group Holdings, Inc.\* | 45400 | 200441 |
|  JetBlue Airways Corp.(x)\* | 113480 | 558322 |
|  Joby Aviation, Inc.(x)\* | 164070 | 2648090 |
|  SkyWest, Inc.\* | 12510 | 1258756 |
|  Strata Critical Medical, Inc.\* | 24410 | 123515 |
|  Sun Country Airlines Holdings, Inc.\* | 14550 | 171835 |
|  |  | 5355356 |
|  ***Professional Services (1.5%)*** |  |  |
|  Acuren Corp.\* | 60746 | 808529 |
|  Alight, Inc., Class A | 154280 | 502953 |
|  Asure Software, Inc.\* | 6900 | 56580 |
|  Barrett Business Services, Inc. | 9840 | 436109 |
|  BlackSky Technology, Inc., Class A(x)\* | 11179 | 225257 |
|  CBIZ, Inc.\* | 18366 | 972663 |
|  Conduent, Inc.\* | 70940 | 198632 |
|  CRA International, Inc. | 2700 | 563031 |
|  CSG Systems International, Inc. | 9352 | 602082 |
|  Exponent, Inc. | 18870 | 1311088 |
|  First Advantage Corp.\* | 28800 | 443232 |
|  Forrester Research, Inc.\* | 6820 | 72292 |
|  Franklin Covey Co.\* | 4730 | 91809 |
|  FTI Consulting, Inc.\* | 64951 | 10499329 |
|  Heidrick & Struggles International, Inc. | 6500 | 323505 |
|  HireQuest, Inc.(x) | 670 | 6445 |
|  Huron Consulting Group, Inc.\* | 5989 | 879006 |
|  IBEX Holdings Ltd.\* | 2700 | 109404 |
|  ICF International, Inc. | 6780 | 629184 |
|  Innodata, Inc.(x)\* | 9990 | 769929 |
|  Insperity, Inc. | 13130 | 645996 |
|  Kelly Services, Inc., Class A | 5900 | 77408 |
|  Kforce, Inc. | 4190 | 125616 |
|  Korn Ferry | 18450 | 1291131 |
|  Legalzoom.com, Inc.\* | 48720 | 505714 |
|  Maximus, Inc. | 20483 | 1871532 |
|  Mistras Group, Inc.\* | 6250 | 61500 |
|  Planet Labs PBC\* | 78670 | 1021137 |
|  RCM Technologies, Inc.\* | 400 | 10620 |
|  Resolute Holdings Management, Inc.\* | 1074 | 77489 |
|  Resources Connection, Inc. | 13210 | 66710 |
|  Skillsoft Corp.(x)\* | 600 | 7812 |
|  Spire Global, Inc.(x)\* | 16720 | 183753 |
|  TriNet Group, Inc. | 10630 | 711041 |
|  TrueBlue, Inc.\* | 16270 | 99735 |
|  TTEC Holdings, Inc.\* | 22010 | 73954 |
|  Upwork, Inc.\* | 46700 | 867219 |
|  Verra Mobility Corp., Class A\* | 56210 | 1388387 |
|  Willdan Group, Inc.\* | 4570 | 441873 |
|  WNS Holdings Ltd.\* | 12050 | 919053 |
|  |  | 29948739 |
|  ***Trading Companies & Distributors (1.2%)*** |  |  |
|  Alta Equipment Group, Inc. | 12860 | 93106 |
|  Applied Industrial Technologies, Inc. | 49724 | 12980450 |
|  BlueLinx Holdings, Inc.\* | 2730 | 199508 |
|  Boise Cascade Co. | 13550 | 1047686 |
|  Custom Truck One Source, Inc.(x)\* | 26470 | 169937 |
|  Distribution Solutions Group, Inc.\* | 3876 | 116590 |
|  DNOW, Inc.\* | 37300 | 568825 |
|  DXP Enterprises, Inc.\* | 4790 | 570345 |
|  EVI Industries, Inc. | 970 | 30662 |
|  GATX Corp. | 11910 | 2081868 |
|  Global Industrial Co. | 3610 | 132379 |
|  Herc Holdings, Inc. | 11580 | 1350923 |
|  Hudson Technologies, Inc.\* | 21490 | 213396 |
|  Karat Packaging, Inc. | 3240 | 81681 |
|  McGrath RentCorp | 8790 | 1031067 |
|  MRC Global, Inc.\* | 30200 | 435484 |
|  NPK International, Inc.\* | 27260 | 308311 |
|  Rush Enterprises, Inc., Class A | 21755 | 1163240 |
|  Rush Enterprises, Inc., Class B | 2690 | 154460 |
|  Titan Machinery, Inc.\* | 9560 | 160034 |
|  Transcat, Inc.\* | 4350 | 318420 |
|  Willis Lease Finance Corp. | 640 | 87738 |
|  Xometry, Inc., Class A(x)\* | 15430 | 840472 |
|  |  | 24136582 |
|  ***Transportation Infrastructure (0.0%)†*** |  |  |
|  Sky Harbour Group Corp.(x)\* | 7070 | 69781 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 393296636 |
|  **Information Technology (19.7%)** |  |  |
|  ***Communications Equipment (0.5%)*** |  |  |
|  ADTRAN Holdings, Inc.\* | 35830 | 336085 |
|  Applied Optoelectronics, Inc.(x)\* | 19570 | 507450 |
|  Aviat Networks, Inc.\* | 7040 | 161427 |
|  BK Technologies Corp.\* | 1160 | 97997 |
|  Calix, Inc.\* | 20020 | 1228628 |
|  Clearfield, Inc.(x)\* | 6180 | 212468 |
|  CommScope Holding Co., Inc.\* | 79970 | 1237936 |
|  Digi International, Inc.\* | 12400 | 452104 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Extreme Networks, Inc.\* | 43410 | $896417 |
|  Harmonic, Inc.\* | 34400 | 350192 |
|  Inseego Corp.\* | 4310 | 64521 |
|  NETGEAR, Inc.\* | 11170 | 361796 |
|  NetScout Systems, Inc.\* | 24180 | 624569 |
|  Ribbon Communications, Inc.\* | 37120 | 141056 |
|  Viasat, Inc.(x)\* | 39460 | 1156178 |
|  Viavi Solutions, Inc.\* | 81870 | 1038930 |
|  |  | 8867754 |
|  ***Electronic Equipment, Instruments & Components (2.8%)*** |  |  |
|  908 Devices, Inc.(x)\* | 11500 | 100740 |
|  Advanced Energy Industries, Inc. | 12720 | 2164181 |
|  Arlo Technologies, Inc.\* | 33330 | 564944 |
|  Badger Meter, Inc. | 10790 | 1926878 |
|  Bel Fuse, Inc., Class A | 400 | 46540 |
|  Bel Fuse, Inc., Class B | 3900 | 549978 |
|  Belden, Inc. | 13038 | 1568080 |
|  Benchmark Electronics, Inc. | 13189 | 508436 |
|  Celestica, Inc.\* | 38323 | 9442021 |
|  Climb Global Solutions, Inc. | 520 | 70117 |
|  Coherent Corp.\* | 107457 | 11575268 |
|  CTS Corp. | 11962 | 477762 |
|  Daktronics, Inc.\* | 10320 | 215894 |
|  ePlus, Inc. | 9900 | 702999 |
|  Evolv Technologies Holdings, Inc.\* | 47470 | 358398 |
|  Fabrinet\* | 12910 | 4707244 |
|  Frequency Electronics, Inc.\* | 2300 | 77993 |
|  Insight Enterprises, Inc.\* | 10095 | 1144874 |
|  Itron, Inc.\* | 16370 | 2039047 |
|  Kimball Electronics, Inc.\* | 7460 | 222756 |
|  Knowles Corp.\* | 33000 | 769230 |
|  Methode Electronics, Inc. | 12840 | 96942 |
|  MicroVision, Inc.(x)\* | 80940 | 100366 |
|  Mirion Technologies, Inc., Class A\* | 76840 | 1787298 |
|  M-Tron Industries, Inc.\* | 700 | 38836 |
|  Napco Security Technologies, Inc. | 12370 | 531292 |
|  nLight, Inc.\* | 17200 | 509636 |
|  Novanta, Inc.\* | 13180 | 1319977 |
|  OSI Systems, Inc.\* | 6000 | 1495440 |
|  Ouster, Inc.\* | 20050 | 542353 |
|  PAR Technology Corp.(x)\* | 14580 | 577076 |
|  PC Connection, Inc. | 4260 | 264077 |
|  Plexus Corp.\* | 9995 | 1446177 |
|  Powerfleet, Inc.(x)\* | 45310 | 237424 |
|  Red Cat Holdings, Inc.(x)\* | 27300 | 282555 |
|  Richardson Electronics Ltd. | 2290 | 22419 |
|  Rogers Corp.\* | 7200 | 579312 |
|  Sanmina Corp.\* | 18380 | 2115722 |
|  ScanSource, Inc.\* | 9400 | 413506 |
|  TTM Technologies, Inc.\* | 36680 | 2112768 |
|  Vishay Intertechnology, Inc. | 43070 | 658971 |
|  Vishay Precision Group, Inc.\* | 2210 | 70831 |
|  Vuzix Corp.(x)\* | 18900 | 59157 |
|  |  | 54495515 |
|  ***IT Services (1.0%)*** |  |  |
|  Applied Digital Corp.\* | 76790 | 1761563 |
|  ASGN, Inc.\* | 14003 | 663042 |
|  Backblaze, Inc., Class A\* | 14490 | 134467 |
|  BigBear.ai Holdings, Inc.\* | 74200 | 483784 |
|  Commerce.com, Inc.\* | 49000 | 244510 |
|  Crexendo, Inc.\* | 3100 | 20150 |
|  CSP, Inc. | 700 | 8085 |
|  DigitalOcean Holdings, Inc.\* | 23020 | 786363 |
|  Fastly, Inc., Class A\* | 40600 | 347130 |
|  Grid Dynamics Holdings, Inc.\* | 18570 | 143175 |
|  Hackett Group, Inc. (The) | 11640 | 221276 |
|  Information Services Group, Inc. | 10900 | 62675 |
|  MongoDB, Inc.\* | 45317 | 14065491 |
|  Rackspace Technology, Inc.\* | 115420 | 162742 |
|  TSS, Inc.\* | 11100 | 201021 |
|  Tucows, Inc., Class A\* | 3460 | 64200 |
|  Unisys Corp.\* | 48780 | 190242 |
|  VTEX, Class A(x)\* | 20500 | 89790 |
|  |  | 19649706 |
|  ***Semiconductors & Semiconductor Equipment (5.8%)*** |  |  |
|  ACM Research, Inc., Class A\* | 17240 | 674601 |
|  Aehr Test Systems(x)\* | 10160 | 305917 |
|  Alpha & Omega Semiconductor Ltd.\* | 11900 | 332724 |
|  Ambarella, Inc.\* | 13900 | 1147028 |
|  Atomera, Inc.(x)\* | 3700 | 16354 |
|  Axcelis Technologies, Inc.\* | 10400 | 1015456 |
|  CEVA, Inc.\* | 7570 | 199924 |
|  Cohu, Inc.\* | 17387 | 353478 |
|  Credo Technology Group Holding Ltd.\* | 175397 | 25539557 |
|  Diodes, Inc.\* | 17300 | 920533 |
|  FormFactor, Inc.\* | 29140 | 1061279 |
|  Ichor Holdings Ltd.\* | 15240 | 267005 |
|  Impinj, Inc.\* | 9500 | 1717125 |
|  indie Semiconductor, Inc., Class A(x)\* | 51720 | 210500 |
|  Kulicke & Soffa Industries, Inc. | 18980 | 771347 |
|  MACOM Technology Solutions Holdings, Inc.\* | 118388 | 14738122 |
|  MaxLinear, Inc., Class A\* | 27656 | 444708 |
|  Navitas Semiconductor Corp., Class A(x)\* | 40730 | 294071 |
|  NVE Corp. | 840 | 54827 |
|  PDF Solutions, Inc.\* | 11600 | 299512 |
|  Penguin Solutions, Inc.(x)\* | 18530 | 486968 |
|  Photronics, Inc.\* | 22740 | 521883 |
|  Power Integrations, Inc. | 21160 | 850844 |
|  Rambus, Inc.\* | 166148 | 17312622 |
|  Rigetti Computing, Inc.(x)\* | 114543 | 3412236 |
|  Semtech Corp.\* | 305200 | 21806540 |
|  Silicon Laboratories, Inc.\* | 11754 | 1541302 |
|  SiTime Corp.\* | 7620 | 2295982 |
|  Synaptics, Inc.\* | 14902 | 1018403 |
|  Teradyne, Inc. | 104381 | 14367001 |
|  Ultra Clean Holdings, Inc.\* | 18200 | 495950 |
|  Veeco Instruments, Inc.\* | 21239 | 646303 |
|  |  | 115120102 |
|  ***Software (9.2%)*** |  |  |
|  8x8, Inc.\* | 61570 | 130528 |
|  A10 Networks, Inc. | 23000 | 417450 |
|  ACI Worldwide, Inc.\* | 36731 | 1938295 |
|  Adeia, Inc. | 39331 | 660761 |
|  Agilysys, Inc.\* | 9430 | 992507 |
|  Airship AI Holdings, Inc.(x)\* | 26250 | 135713 |
|  Alarm.com Holdings, Inc.\* | 17719 | 940525 |
|  Alkami Technology, Inc.(x)\* | 24860 | 617522 |
|  Amplitude, Inc., Class A\* | 27670 | 296622 |
|  Appian Corp., Class A\* | 10200 | 311814 |
|  Arteris, Inc.\* | 10300 | 104030 |
|  Asana, Inc., Class A(x)\* | 29600 | 395456 |
|  AudioEye, Inc.\* | 4610 | 63895 |
|  AvePoint, Inc.\* | 48410 | 726634 |
|  Bit Digital, Inc.(x)\* | 114100 | 342300 |
|  Bitdeer Technologies Group, Class A(x)\* | 32700 | 558843 |
|  Blackbaud, Inc.\* | 13910 | 894552 |
|  BlackLine, Inc.\* | 17100 | 908010 |
|  Blend Labs, Inc., Class A\* | 88200 | 321930 |
|  Box, Inc., Class A\* | 48910 | 1578326 |
|  Braze, Inc., Class A\* | 28549 | 811934 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  C3.ai, Inc., Class A(x)\* | 40400 | $700536 |
|  Cerence, Inc.(x)\* | 4160 | 51834 |
|  Cipher Mining, Inc.(x)\* | 96570 | 1215816 |
|  Cleanspark, Inc.(x)\* | 99060 | 1436370 |
|  Clear Secure, Inc., Class A | 26470 | 883569 |
|  Clearwater Analytics Holdings, Inc., Class A\* | 89883 | 1619692 |
|  Commvault Systems, Inc.\* | 16100 | 3039358 |
|  Consensus Cloud Solutions, Inc.\* | 6070 | 178276 |
|  Core Scientific, Inc.\* | 100530 | 1803508 |
|  CoreCard Corp.\* | 700 | 18844 |
|  CS Disco, Inc.\* | 19090 | 123321 |
|  CyberArk Software Ltd.\* | 22161 | 10707087 |
|  Daily Journal Corp.\* | 400 | 186056 |
|  Digimarc Corp.(x)\* | 9350 | 91349 |
|  Digital Turbine, Inc.(x)\* | 33800 | 216320 |
|  Domo, Inc., Class B\* | 1030 | 16315 |
|  D-Wave Quantum, Inc.(x)\* | 110804 | 2737967 |
|  eGain Corp.\* | 4310 | 37540 |
|  EverCommerce, Inc.\* | 13900 | 154707 |
|  Expensify, Inc., Class A\* | 5100 | 9435 |
|  Five9, Inc.\* | 27800 | 672760 |
|  Freshworks, Inc., Class A\* | 61580 | 724797 |
|  Guidewire Software, Inc.\* | 92009 | 21149189 |
|  HubSpot, Inc.\* | 27466 | 12848595 |
|  Hut 8 Corp.\* | 33740 | 1174489 |
|  I3 Verticals, Inc., Class A(x)\* | 5600 | 181776 |
|  Intapp, Inc.\* | 19475 | 796527 |
|  InterDigital, Inc. | 9140 | 3155402 |
|  Jamf Holding Corp.\* | 26790 | 286653 |
|  Kaltura, Inc.\* | 13450 | 19368 |
|  Klaviyo, Inc., Class A\* | 432775 | 11983540 |
|  Life360, Inc.(x)\* | 5800 | 616540 |
|  LiveRamp Holdings, Inc.\* | 24757 | 671905 |
|  MARA Holdings, Inc.(x)\* | 133256 | 2433255 |
|  Mercurity Fintech Holding, Inc.(x)\* | 11400 | 280212 |
|  Meridianlink, Inc.\* | 15500 | 308915 |
|  Mitek Systems, Inc.\* | 15000 | 146550 |
|  Monday.com Ltd.\* | 35281 | 6833577 |
|  N-able, Inc.\* | 24800 | 193440 |
|  NCR Voyix Corp.\* | 55580 | 697529 |
|  NextNav, Inc.\* | 28660 | 409838 |
|  Nutanix, Inc., Class A\* | 200485 | 14914079 |
|  ON24, Inc.\* | 18710 | 107021 |
|  OneSpan, Inc. | 9480 | 150637 |
|  Ooma, Inc.\* | 5810 | 69662 |
|  Pagaya Technologies Ltd., Class A\* | 17000 | 504730 |
|  PagerDuty, Inc.\* | 32300 | 533596 |
|  Porch Group, Inc.\* | 28310 | 475042 |
|  Procore Technologies, Inc.\* | 233044 | 16993568 |
|  Progress Software Corp.\* | 15950 | 700684 |
|  PROS Holdings, Inc.(x)\* | 19550 | 447891 |
|  Q2 Holdings, Inc.\* | 22630 | 1638186 |
|  Qualys, Inc.\* | 12360 | 1635599 |
|  Rapid7, Inc.\* | 23800 | 446250 |
|  Red Violet, Inc. | 4010 | 209523 |
|  ReposiTrak, Inc.(x) | 2470 | 36605 |
|  Rezolve AI plc(x)\* | 63900 | 318222 |
|  Rimini Street, Inc.\* | 26990 | 126313 |
|  Riot Platforms, Inc.\* | 120390 | 2291022 |
|  SailPoint, Inc.(x)\* | 517871 | 11434592 |
|  Samsara, Inc., Class A\* | 268726 | 10010043 |
|  Sapiens International Corp. NV | 11450 | 492350 |
|  SEMrush Holdings, Inc., Class A\* | 19510 | 138131 |
|  Silvaco Group, Inc.(x)\* | 1900 | 10279 |
|  SoundHound AI, Inc., Class A(x)\* | 133420 | 2145394 |
|  SoundThinking, Inc.\* | 2980 | 35939 |
|  Sprinklr, Inc., Class A\* | 47520 | 366854 |
|  Sprout Social, Inc., Class A\* | 17700 | 228684 |
|  SPS Commerce, Inc.\* | 13680 | 1424635 |
|  Synchronoss Technologies, Inc.\* | 700 | 4256 |
|  Telos Corp.\* | 14210 | 97196 |
|  Tenable Holdings, Inc.\* | 45050 | 1313658 |
|  Terawulf, Inc.(x)\* | 101700 | 1161414 |
|  Varonis Systems, Inc.\* | 38420 | 2207997 |
|  Verint Systems, Inc.\* | 23121 | 468200 |
|  Vertex, Inc., Class A\* | 23730 | 588267 |
|  Viant Technology, Inc., Class A\* | 9970 | 86041 |
|  Weave Communications, Inc.\* | 14380 | 96058 |
|  WM Technology, Inc.\* | 22350 | 25926 |
|  Workiva, Inc., Class A\* | 17530 | 1508982 |
|  Xperi, Inc.\* | 14012 | 90798 |
|  Yext, Inc.\* | 56900 | 484788 |
|  Zeta Global Holdings Corp., Class A\* | 67090 | 1333078 |
|  |  | 181312594 |
|  ***Technology Hardware, Storage & Peripherals (0.4%)*** |  |  |
|  CompoSecure, Inc., Class A\* | 15430 | 321252 |
|  Corsair Gaming, Inc.\* | 24600 | 219432 |
|  CPI Card Group, Inc.\* | 940 | 14232 |
|  Diebold Nixdorf, Inc.\* | 9100 | 518973 |
|  Eastman Kodak Co.(x)\* | 13370 | 85702 |
|  Immersion Corp. | 18490 | 135717 |
|  IonQ, Inc.(x)\* | 97259 | 5981428 |
|  Quantum Computing, Inc.\* | 48140 | 886257 |
|  Turtle Beach Corp.\* | 10820 | 172038 |
|  Xerox Holdings Corp. | 41600 | 156416 |
|  |  | 8491447 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 387937118 |
|  **Materials (2.2%)** |  |  |
|  ***Chemicals (0.8%)*** |  |  |
|  AdvanSix, Inc. | 6100 | 118218 |
|  American Vanguard Corp.\* | 9870 | 56654 |
|  Arq, Inc.\* | 4170 | 29857 |
|  ASP Isotopes, Inc.\* | 31420 | 302260 |
|  Aspen Aerogels, Inc.\* | 20630 | 143585 |
|  Avient Corp. | 31984 | 1053873 |
|  Balchem Corp. | 12083 | 1813175 |
|  Cabot Corp. | 17570 | 1336198 |
|  Chemours Co. (The) | 54870 | 869141 |
|  Core Molding Technologies, Inc.\* | 1270 | 26098 |
|  Ecovyst, Inc.\* | 44450 | 389382 |
|  Flotek Industries, Inc.(x)\* | 5920 | 86432 |
|  Hawkins, Inc. | 7200 | 1315584 |
|  HB Fuller Co. | 19450 | 1152996 |
|  Ingevity Corp.\* | 13071 | 721388 |
|  Innospec, Inc. | 9192 | 709255 |
|  Intrepid Potash, Inc.\* | 3670 | 112229 |
|  Koppers Holdings, Inc. | 5720 | 160160 |
|  Kronos Worldwide, Inc. | 14070 | 80762 |
|  LSB Industries, Inc.\* | 18330 | 144440 |
|  Mativ Holdings, Inc. | 23118 | 261465 |
|  Minerals Technologies, Inc. | 12120 | 752894 |
|  Orion SA | 20100 | 152358 |
|  Perimeter Solutions, Inc.\* | 49910 | 1117485 |
|  PureCycle Technologies, Inc.(x)\* | 42310 | 556377 |
|  Quaker Chemical Corp. | 5500 | 724625 |
|  Rayonier Advanced Materials, Inc.\* | 28090 | 202810 |
|  Sensient Technologies Corp. | 14910 | 1399304 |
|  Solesence, Inc.(x)\* | 2120 | 6826 |
|  Stepan Co. | 8200 | 391140 |
|  Trinseo plc | 2920 | 6862 |
|  Tronox Holdings plc | 33520 | 134750 |
|  Valhi, Inc. | 2300 | 36294 |
|  |  | 16364877 |
|  ***Construction Materials (0.1%)*** |  |  |
|  Knife River Corp.\* | 21080 | 1620420 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Smith-Midland Corp.(x)\* | 880 | $32472 |
|  Titan America SA(x) | 5000 | 74700 |
|  United States Lime & Minerals, Inc. | 3750 | 493312 |
|  |  | 2220904 |
|  ***Containers & Packaging (0.1%)*** |  |  |
|  Ardagh Metal Packaging SA | 17850 | 71222 |
|  Greif, Inc., Class A | 8570 | 512143 |
|  Greif, Inc., Class B | 1920 | 118291 |
|  Myers Industries, Inc. | 14760 | 250034 |
|  O-I Glass, Inc.\* | 56700 | 735399 |
|  Ranpak Holdings Corp., Class A\* | 34230 | 192373 |
|  TriMas Corp. | 11830 | 457111 |
|  |  | 2336573 |
|  ***Metals & Mining (1.1%)*** |  |  |
|  Alpha Metallurgical Resources, Inc.\* | 4250 | 697382 |
|  American Battery Technology Co.\* | 8500 | 41310 |
|  Ascent Industries Co.\* | 900 | 11592 |
|  Caledonia Mining Corp. plc | 5820 | 210742 |
|  Century Aluminum Co.\* | 17120 | 502643 |
|  Coeur Mining, Inc.\* | 225171 | 4224208 |
|  Commercial Metals Co. | 41585 | 2381989 |
|  Compass Minerals International, Inc.\* | 15167 | 291206 |
|  Constellium SE\* | 49200 | 732096 |
|  Contango ORE, Inc.\* | 2260 | 56342 |
|  Critical Metals Corp.(x)\* | 29780 | 185232 |
|  Dakota Gold Corp.\* | 10480 | 47684 |
|  Ferroglobe plc | 10700 | 48685 |
|  Friedman Industries, Inc. | 300 | 6568 |
|  Hecla Mining Co. | 219421 | 2654994 |
|  Idaho Strategic Resources, Inc.\* | 3000 | 101370 |
|  Ivanhoe Electric, Inc.\* | 43070 | 540528 |
|  Kaiser Aluminum Corp. | 5690 | 439040 |
|  Lifezone Metals Ltd.(x)\* | 2140 | 11727 |
|  MAC Copper Ltd.\* | 20580 | 251282 |
|  Materion Corp. | 7700 | 930237 |
|  Metallus, Inc.\* | 17200 | 284316 |
|  NioCorp Developments Ltd.(x)\* | 7700 | 51436 |
|  Novagold Resources, Inc.\* | 108600 | 955680 |
|  Olympic Steel, Inc. | 5170 | 157427 |
|  Perpetua Resources Corp.\* | 26970 | 545603 |
|  Ramaco Resources, Inc., Class A(x)\* | 16330 | 541993 |
|  Ryerson Holding Corp. | 9830 | 224714 |
|  SSR Mining, Inc.\* | 69330 | 1693039 |
|  SunCoke Energy, Inc. | 32100 | 261936 |
|  Tredegar Corp.\* | 3710 | 29791 |
|  United States Antimony Corp.\* | 37900 | 234980 |
|  US Gold Corp.\* | 4200 | 69216 |
|  US Goldmining, Inc.\* | 300 | 3857 |
|  Vox Royalty Corp.(x) | 3300 | 14190 |
|  Warrior Met Coal, Inc. | 18800 | 1196432 |
|  Worthington Steel, Inc. | 11699 | 355533 |
|  |  | 20987000 |
|  ***Paper & Forest Products (0.1%)*** |  |  |
|  Clearwater Paper Corp.\* | 6040 | 125391 |
|  Magnera Corp.\* | 14600 | 171112 |
|  Sylvamo Corp. | 12900 | 570438 |
|  |  | 866941 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 42776295 |
|  **Real Estate (3.0%)** |  |  |
|  ***Diversified REITs (0.3%)*** |  |  |
|  Alexander & Baldwin, Inc. (REIT) | 27154 | 493931 |
|  Alpine Income Property Trust, Inc. (REIT) | 3530 | 50020 |
|  American Assets Trust, Inc. (REIT) | 19996 | 406319 |
|  Armada Hoffler Properties, Inc. (REIT) | 23300 | 163333 |
|  Broadstone Net Lease, Inc. (REIT) | 73000 | 1304510 |
|  CTO Realty Growth, Inc. (REIT) | 10480 | 170824 |
|  Essential Properties Realty Trust, Inc. (REIT) | 72350 | 2153136 |
|  Gladstone Commercial Corp. (REIT) | 20570 | 253422 |
|  Global Net Lease, Inc. (REIT) | 72432 | 588872 |
|  Modiv Industrial, Inc. (REIT), Class C(x) | 500 | 7320 |
|  NexPoint Diversified Real Estate Trust (REIT) | 7650 | 28229 |
|  One Liberty Properties, Inc. (REIT) | 2200 | 48664 |
|  |  | 5668580 |
|  ***Health Care REITs (0.5%)*** |  |  |
|  American Healthcare REIT, Inc. (REIT) | 55626 | 2336848 |
|  CareTrust REIT, Inc. (REIT) | 76400 | 2649552 |
|  Community Healthcare Trust, Inc. (REIT) | 9750 | 149175 |
|  Diversified Healthcare Trust (REIT) | 85850 | 378598 |
|  Global Medical REIT, Inc. (REIT)(x) | 5940 | 200237 |
|  LTC Properties, Inc. (REIT) | 14809 | 545860 |
|  National Health Investors, Inc. (REIT) | 14250 | 1132875 |
|  Sabra Health Care REIT, Inc. (REIT) | 84943 | 1583338 |
|  Sila Realty Trust, Inc. (REIT) | 20300 | 509530 |
|  Strawberry Fields REIT, Inc. (REIT) | 1550 | 19065 |
|  Universal Health Realty Income Trust (REIT) | 5830 | 228361 |
|  |  | 9733439 |
|  ***Hotel & Resort REITs (0.3%)*** |  |  |
|  Apple Hospitality REIT, Inc. (REIT) | 84100 | 1010041 |
|  Braemar Hotels & Resorts, Inc. (REIT) | 6140 | 16762 |
|  Chatham Lodging Trust (REIT) | 20340 | 136482 |
|  DiamondRock Hospitality Co. (REIT) | 74678 | 594437 |
|  Pebblebrook Hotel Trust (REIT) | 37408 | 426077 |
|  RLJ Lodging Trust (REIT) | 58587 | 421826 |
|  Ryman Hospitality Properties, Inc. (REIT) | 21596 | 1934786 |
|  Service Properties Trust (REIT) | 62330 | 168914 |
|  Summit Hotel Properties, Inc. (REIT) | 22100 | 121329 |
|  Sunstone Hotel Investors, Inc. (REIT) | 72914 | 683204 |
|  Xenia Hotels & Resorts, Inc. (REIT) | 28501 | 391034 |
|  |  | 5904892 |
|  ***Industrial REITs (0.2%)*** |  |  |
|  Industrial Logistics Properties Trust (REIT) | 11880 | 69260 |
|  Innovative Industrial Properties, Inc. (REIT) | 10310 | 552410 |
|  LXP Industrial Trust (REIT) | 105545 | 945683 |
|  Plymouth Industrial REIT, Inc. (REIT) | 16450 | 367328 |
|  Terreno Realty Corp. (REIT) | 33670 | 1910773 |
|  |  | 3845454 |
|  ***Office REITs (0.4%)*** |  |  |
|  Brandywine Realty Trust (REIT) | 68000 | 283560 |
|  City Office REIT, Inc. (REIT) | 16540 | 115119 |
|  COPT Defense Properties (REIT) | 39120 | 1136827 |
|  Douglas Emmett, Inc. (REIT) | 54200 | 843894 |
|  Easterly Government Properties, Inc. (REIT), Class A | 14640 | 335695 |
|  Empire State Realty Trust, Inc. (REIT), Class A | 57300 | 438918 |
|  Franklin Street Properties Corp. (REIT) | 29150 | 46640 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Hudson Pacific Properties, Inc. (REIT)\* | 114700 | $316572 |
|  JBG SMITH Properties (REIT) | 22380 | 497955 |
|  NET Lease Office Properties (REIT) | 4500 | 133470 |
|  Paramount Group, Inc. (REIT)\* | 74800 | 489192 |
|  Peakstone Realty Trust (REIT) | 20610 | 270403 |
|  Piedmont Realty Trust, Inc. (REIT) | 42500 | 382500 |
|  Postal Realty Trust, Inc. (REIT), Class A | 7160 | 112340 |
|  SL Green Realty Corp. (REIT) | 25260 | 1510801 |
|  |  | 6913886 |
|  ***Real Estate Management & Development (0.3%)*** |  |  |
|  American Realty Investors, Inc.(x)\* | 200 | 3346 |
|  Anywhere Real Estate, Inc.\* | 27840 | 294826 |
|  Compass, Inc., Class A\* | 166080 | 1333622 |
|  Cushman & Wakefield plc\* | 87480 | 1392682 |
|  Douglas Elliman, Inc.\* | 10600 | 30316 |
|  eXp World Holdings, Inc.(x) | 30940 | 329820 |
|  Forestar Group, Inc.\* | 8880 | 236119 |
|  FRP Holdings, Inc.\* | 3580 | 87209 |
|  Kennedy-Wilson Holdings, Inc. | 44526 | 370456 |
|  Logistic Properties of The Americas\* | 300 | 1398 |
|  Marcus & Millichap, Inc. | 10000 | 293500 |
|  Maui Land & Pineapple Co., Inc.\* | 1220 | 22741 |
|  Newmark Group, Inc., Class A | 51130 | 953575 |
|  RE/MAX Holdings, Inc., Class A\* | 13330 | 125702 |
|  Real Brokerage, Inc. (The)\* | 36050 | 150689 |
|  RMR Group, Inc. (The), Class A | 9030 | 142042 |
|  Seaport Entertainment Group, Inc.(x)\* | 1800 | 41256 |
|  St Joe Co. (The) | 12830 | 634828 |
|  Stratus Properties, Inc.\* | 440 | 9310 |
|  Tejon Ranch Co.\* | 7040 | 112499 |
|  Transcontinental Realty Investors, Inc.\* | 150 | 6920 |
|  |  | 6572856 |
|  ***Residential REITs (0.2%)*** |  |  |
|  Apartment Investment and Management Co. (REIT), Class A | 50500 | 400465 |
|  BRT Apartments Corp. (REIT) | 1780 | 27875 |
|  Centerspace (REIT) | 5632 | 331725 |
|  Clipper Realty, Inc. (REIT) | 4700 | 17860 |
|  Elme Communities (REIT) | 32300 | 544578 |
|  Independence Realty Trust, Inc. (REIT) | 84588 | 1386397 |
|  NexPoint Residential Trust, Inc. (REIT) | 8700 | 280314 |
|  UMH Properties, Inc. (REIT) | 28440 | 422334 |
|  Veris Residential, Inc. (REIT) | 30070 | 457064 |
|  |  | 3868612 |
|  ***Retail REITs (0.6%)*** |  |  |
|  Acadia Realty Trust (REIT) | 48086 | 968933 |
|  Alexander's, Inc. (REIT) | 210 | 49243 |
|  CBL & Associates Properties, Inc. (REIT) | 9700 | 296626 |
|  Curbline Properties Corp. (REIT) | 38150 | 850745 |
|  FrontView REIT, Inc. (REIT) | 5400 | 74034 |
|  Getty Realty Corp. (REIT) | 16254 | 436095 |
|  InvenTrust Properties Corp. (REIT) | 28140 | 805367 |
|  Kite Realty Group Trust (REIT) | 72940 | 1626562 |
|  Macerich Co. (The) (REIT) | 89600 | 1630720 |
|  NETSTREIT Corp. (REIT)(x) | 29380 | 530603 |
|  Phillips Edison & Co., Inc. (REIT) | 46008 | 1579454 |
|  Saul Centers, Inc. (REIT) | 3440 | 109633 |
|  SITE Centers Corp. (REIT) | 19075 | 171866 |
|  Tanger, Inc. (REIT) | 40670 | 1376273 |
|  Urban Edge Properties (REIT) | 48300 | 988701 |
|  Whitestone REIT (REIT) | 18120 | 222513 |
|  |  | 11717368 |
|  ***Specialized REITs (0.2%)*** |  |  |
|  Farmland Partners, Inc. (REIT)(x) | 17340 | 188659 |
|  Four Corners Property Trust, Inc. (REIT) | 35030 | 854732 |
|  Gladstone Land Corp. (REIT)(x) | 20590 | 188605 |
|  Outfront Media, Inc. (REIT) | 48520 | 888886 |
|  PotlatchDeltic Corp. (REIT) | 28573 | 1164350 |
|  Safehold, Inc. (REIT) | 18269 | 282987 |
|  Smartstop Self Storage REIT, Inc. (REIT)(x) | 10300 | 387692 |
|  |  | 3955911 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 58180998 |
|  **Utilities (2.3%)** |  |  |
|  ***Electric Utilities (1.3%)*** |  |  |
|  ALLETE, Inc. | 20940 | 1390416 |
|  Genie Energy Ltd., Class B | 6180 | 92391 |
|  Hawaiian Electric Industries, Inc.\* | 61650 | 680616 |
|  MGE Energy, Inc. | 13110 | 1103600 |
|  NRG Energy, Inc. | 78723 | 12749190 |
|  Oklo, Inc., Class A(x)\* | 39000 | 4353570 |
|  Otter Tail Corp. | 12880 | 1055773 |
|  Portland General Electric Co. | 38000 | 1672000 |
|  TXNM Energy, Inc. | 35000 | 1979250 |
|  |  | 25076806 |
|  ***Gas Utilities (0.5%)*** |  |  |
|  Brookfield Infrastructure Corp., Class A | 42329 | 1740568 |
|  Chesapeake Utilities Corp. | 8340 | 1123315 |
|  New Jersey Resources Corp. | 36210 | 1743512 |
|  Northwest Natural Holding Co. | 14500 | 651485 |
|  ONE Gas, Inc. | 21780 | 1762873 |
|  RGC Resources, Inc. | 1730 | 38821 |
|  Southwest Gas Holdings, Inc. | 23550 | 1844907 |
|  Spire, Inc. | 20670 | 1685018 |
|  |  | 10590499 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  Hallador Energy Co.\* | 11570 | 226425 |
|  Montauk Renewables, Inc.\* | 37360 | 75094 |
|  Ormat Technologies, Inc. | 20120 | 1936550 |
|  |  | 2238069 |
|  ***Multi-Utilities (0.2%)*** |  |  |
|  Avista Corp. | 27470 | 1038641 |
|  Black Hills Corp. | 26500 | 1632135 |
|  Northwestern Energy Group, Inc. | 22101 | 1295339 |
|  Unitil Corp. | 5800 | 277588 |
|  |  | 4243703 |
|  ***Water Utilities (0.2%)*** |  |  |
|  American States Water Co. | 13500 | 989820 |
|  Cadiz, Inc.\* | 29160 | 137635 |
|  California Water Service Group | 20430 | 937533 |
|  Consolidated Water Co. Ltd. | 10820 | 381730 |
|  Global Water Resources, Inc. | 3820 | 39346 |
|  H2O America | 11300 | 550310 |
|  Middlesex Water Co. | 6000 | 324720 |
|  Pure Cycle Corp.\* | 4450 | 49261 |
|  York Water Co. (The) | 4360 | 132631 |
|  |  | 3542986 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 45692063 |
|  **Total Common Stocks (99.0%)**<br> *(Cost $1,444,387,832)* |  | 1951246481 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Biotechnology (0.0%)†*** |  |  |
|  Aduro Biotech, Inc., CVR (r)\* | 1252 | $— |
|  Cartesian Therapeutics, Inc. (x)\* | 5920 | 799 |
|  Chinook Therapeutics, Inc., CVR \* | 19340 | 3869 |
|  Sanofi Aatd, Inc., CVR(r)\* | 10800 | 5244 |
|  |  | 9912 |
|  ***Health Care Equipment & Supplies (0.0%)†*** |  |  |
|  Paragon 28, Inc., CVR(r)\* | 18460 | 1246 |
|  ***Life Sciences Tools & Services (0.0%)*** |  |  |
|  OmniAb, Inc., expiring 11/1/27(r)(x)\* | 4966 |  |
|  ***Pharmaceuticals (0.0%)†*** |  |  |
|  Rain Oncology, Inc., CVR(r)(x)\* | 21290 | 798 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 11956 |
|  **Materials (0.0%)†** |  |  |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Resolute Forest Products, Inc., CVR\* | 26500 | 39750 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 39750 |
|  **Total Rights (0.0%)†<br>(***Cost $36,310***)** |  | 51706 |
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (3.1%)** |  |  |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 3000000 | 3000000 |
|  Goldman Sachs Financial Square Government Fund 4.03% (7 day yield) (xx) | 1000000 | 1000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 52925283 | 52925283 |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 5000000 | 5000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 61925283 |
|  **Total Short-Term Investments (3.1%)**<br> *(Cost $61,925,283)* |  | 61925283 |
|  **Total Investments in Securities (102.1%)**<br> *(Cost $1,506,349,425)* |  | 2013223470 |
|  **Other Assets Less Liabilities (-2.1%)** |  | (41451158) |
|  **Net Assets (100%)** |  | $1971772312 |

---

*\** *Non-income producing.* 

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $512,733 or 0.0% of net assets.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $164,362,826. This was collateralized by $107,088,588 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.250%, maturing 9/30/25 – 5/15/55 and by cash of $61,925,283 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*CVR — Contingent Value Right* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br>**Contracts** | **Expiration**<br>**Date** | **Trading**<br>**Currency** | **Notional**<br>**Amount ($)** | **Value and**<br>**Unrealized**<br>**Appreciation**<br>**(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  Russell 2000 E-Mini Index | 74 | 12/2025 | USD | 9085350 | (121626) |
|  |  |  |  |  | (121626) |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active**<br>**Markets for Identical**<br>**Securities** | **Level 2**<br>**Significant Other**<br>**Observable Inputs**<br>**(including quoted prices**<br>**for similar securities,**<br>**interest rates,<br>prepayment speeds,**<br>**credit risk, etc.)** | **Level 3**<br>**Significant Unobservable**<br>**Inputs (including the**<br>**Portfolio's own**<br>**assumptions in<br>determining the fair**<br>**value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $54166106 | $— | $— | $54166106 |
|  Consumer Discretionary | 254228101 |  |  | 254228101 |
|  Consumer Staples | 37758434 |  |  | 37758434 |
|  Energy | 56974677 |  |  | 56974677 |
|  Financials | 270987193 |  | 1028 | 270988221 |
|  Health Care | 349247832 |  | — (a) | 349247832 |
|  Industrials | 393296636 |  |  | 393296636 |
|  Information Technology | 387937118 |  |  | 387937118 |
|  Materials | 42776295 |  |  | 42776295 |
|  Real Estate | 58180998 |  |  | 58180998 |
|  Utilities | 45692063 |  |  | 45692063 |
|  **Rights** |  |  |  |  |
|  Health Care |  | 4668 | 7288 | 11956 |
|  Materials |  | 39750 |  | 39750 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 61925283 |  |  | 61925283 |
|  **Total Assets** | $**2013170736** | $**44418** | $**8316** | $**2013223470** |
|  **Liabilities:** |  |  |  |  |
|  **Futures** | $(121626) | $— | $— | $(121626) |
|  **Total Liabilities** | $**(121626)** | $**—** | $**—** | $**(121626)** |
|  **Total** | $**2013049110** | $**44418** | $**8316** | $**2013101844** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $672287272 |
|  Aggregate gross unrealized depreciation | (178211856) |
|  Net unrealized appreciation | $494075416 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1519026428 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SUSTAINABLE U.S. THEMATIC PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (2.5%)** |  |  |
|  ***Entertainment (2.5%)*** |  |  |
|  Spotify Technology SA\* | 656 | $457888 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 457888 |
|  **Consumer Discretionary (2.5%)** |  |  |
|  ***Automobile Components (2.5%)*** |  |  |
|  Aptiv plc\* | 5319 | 458604 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 458604 |
|  **Consumer Staples (1.1%)** |  |  |
|  ***Beverages (1.1%)*** |  |  |
|  Primo Brands Corp. | 8789 | 194237 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 194237 |
|  **Financials (11.4%)** |  |  |
|  ***Capital Markets (6.7%)*** |  |  |
|  Intercontinental Exchange, Inc. | 3039 | 512011 |
|  Jefferies Financial Group, Inc. | 6902 | 451529 |
|  LPL Financial Holdings, Inc. | 772 | 256836 |
|  |  | 1220376 |
|  ***Financial Services (3.2%)*** |  |  |
|  Visa, Inc., Class A | 1717 | 586150 |
|  ***Insurance (1.5%)*** |  |  |
|  Aflac, Inc. | 2357 | 263277 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 2069803 |
|  **Health Care (15.8%)** |  |  |
|  ***Biotechnology (3.1%)*** |  |  |
|  AbbVie, Inc. | 2478 | 573756 |
|  ***Health Care Equipment & Supplies (9.6%)*** |  |  |
|  Alcon AG | 3459 | 257730 |
|  Becton Dickinson & Co. | 1082 | 202518 |
|  GE HealthCare Technologies, Inc. | 4483 | 336673 |
|  Hologic, Inc.\* | 3335 | 225079 |
|  Medtronic plc | 4802 | 457343 |
|  Stryker Corp. | 704 | 260248 |
|  |  | 1739591 |
|  ***Life Sciences Tools & Services (1.2%)*** |  |  |
|  Danaher Corp. | 1064 | 210949 |
|  ***Pharmaceuticals (1.9%)*** |  |  |
|  Johnson & Johnson | 1903 | 352854 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 2877150 |
|  **Industrials (13.6%)** |  |  |
|  ***Commercial Services & Supplies (5.0%)*** |  |  |
|  Tetra Tech, Inc. | 11322 | 377928 |
|  Veralto Corp. | 5002 | 533263 |
|  |  | 911191 |
|  ***Construction & Engineering (3.1%)*** |  |  |
|  AECOM | 4321 | 563761 |
|  ***Electrical Equipment (5.5%)*** |  |  |
|  Emerson Electric Co. | 2876 | 377274 |
|  Rockwell Automation, Inc. | 1763 | 616221 |
|  |  | 993495 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 2468447 |
|  **Information Technology (43.9%)** |  |  |
|  ***Electronic Equipment, Instruments & Components (9.4%)*** |  |  |
|  Flex Ltd.\* | 10597 | 614308 |
|  TE Connectivity plc | 2674 | 587023 |
|  Zebra Technologies Corp., Class A\* | 1725 | 512601 |
|  |  | 1713932 |
|  ***Semiconductors & Semiconductor Equipment (17.4%)*** |  |  |
|  Broadcom, Inc. | 2737 | 902964 |
|  Monolithic Power Systems, Inc. | 451 | 415209 |
|  NVIDIA Corp. | 5473 | 1021152 |
|  NXP Semiconductors NV | 1363 | 310396 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. (ADR) | 1830 | 511101 |
|  |  | 3160822 |
|  ***Software (12.5%)*** |  |  |
|  Cadence Design Systems, Inc.\* | 691 | 242721 |
|  Microsoft Corp. | 1715 | 888284 |
|  Palo Alto Networks, Inc.\* | 1582 | 322127 |
|  Salesforce, Inc. | 1787 | 423519 |
|  ServiceNow, Inc.\* | 443 | 407684 |
|  |  | 2284335 |
|  ***Technology Hardware, Storage & Peripherals (4.6%)*** |  |  |
|  Apple, Inc. | 3286 | 836714 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 7995803 |
|  **Utilities (2.7%)** |  |  |
|  ***Electric Utilities (2.7%)*** |  |  |
|  NextEra Energy, Inc. | 6547 | 494233 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 494233 |
|  **Total Common Stocks (93.5%)**<br> *(Cost $13,718,634)* |  | 17016165 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (5.1%**) |  |  |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 938399 | 938774 |
|  **Total Short-Term Investments (5.1%)**<br> *(Cost $938,701)* |  | 938774 |
|  **Total Investments in Securities (98.6%)**<br> *(Cost $14,657,335)* |  | 17954939 |
|  **Other Assets Less Liabilities (1.4%)** |  | 250891 |
|  **Net Assets (100%)** |  | $18205830 |

---

*\** *Non-income producing.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AB SUSTAINABLE U.S. THEMATIC PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates, prepayment<br>speeds, credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in determining<br>the fair value of<br>investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $457888 | $— | $— | $457888 |
|  Consumer Discretionary | 458604 |  |  | 458604 |
|  Consumer Staples | 194237 |  |  | 194237 |
|  Financials | 2069803 |  |  | 2069803 |
|  Health Care | 2877150 |  |  | 2877150 |
|  Industrials | 2468447 |  |  | 2468447 |
|  Information Technology | 7995803 |  |  | 7995803 |
|  Utilities | 494233 |  |  | 494233 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 938774 |  |  | 938774 |
|  **Total Assets** | $**17954939** | $**—** | $**—** | $**17954939** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**17954939** | $**—** | $**—** | $**17954939** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $3929531 |
|  Aggregate gross unrealized depreciation | (634282) |
|  Net unrealized appreciation | $3295249 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $14659690 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AMERICAN CENTURY MID CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (1.3%)** |  |  |
|  ***Media (1.3%)*** |  |  |
|  Omnicom Group, Inc. | 62461 | $5092445 |
|  Publicis Groupe SA | 33959 | 3256546 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 8348991 |
|  **Consumer Discretionary (4.1%)** |  |  |
|  ***Automobile Components (1.7%)*** |  |  |
|  BorgWarner, Inc. | 94527 | 4155407 |
|  Cie Generale des Etablissements |  |  |
|  Michelin SCA | 87377 | 3132945 |
|  Gentex Corp. | 112261 | 3176986 |
|  |  | 10465338 |
|  ***Hotels, Restaurants & Leisure (0.6%)*** |  |  |
|  Sodexo SA | 57334 | 3604610 |
|  ***Household Durables (1.8%)*** |  |  |
|  Mohawk Industries, Inc.\* | 39635 | 5109744 |
|  PulteGroup, Inc. | 47653 | 6296391 |
|  |  | 11406135 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 25476083 |
|  **Consumer Staples (9.8%)** |  |  |
|  ***Beverages (1.4%)*** |  |  |
|  Heineken NV | 46208 | 3603318 |
|  Pernod Ricard SA | 53003 | 5198542 |
|  |  | 8801860 |
|  ***Consumer Staples Distribution & Retail (1.1%)*** |  |  |
|  Koninklijke Ahold Delhaize NV | 178342 | 7213224 |
|  ***Food Products (1.6%)*** |  |  |
|  Conagra Brands, Inc. | 242097 | 4432796 |
|  General Mills, Inc. | 53955 | 2720411 |
|  Mondelez International, Inc., Class A | 49233 | 3075586 |
|  |  | 10228793 |
|  ***Household Products (3.2%)*** |  |  |
|  Henkel AG & Co. KGaA (Preference)(q) | 59865 | 4828545 |
|  Kimberly-Clark Corp. | 75873 | 9434049 |
|  Reckitt Benckiser Group plc | 72491 | 5574658 |
|  |  | 19837252 |
|  ***Personal Care Products (2.5%)*** |  |  |
|  Estee Lauder Cos., Inc. (The), Class A | 68789 | 6061687 |
|  Kenvue, Inc. | 590200 | 9578946 |
|  |  | 15640633 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 61721762 |
|  **Energy (4.5%)** |  |  |
|  ***Energy Equipment & Services (1.5%)*** |  |  |
|  Baker Hughes Co. | 199528 | 9721004 |
|  ***Oil, Gas & Consumable Fuels (3.0%)*** |  |  |
|  Coterra Energy, Inc. | 231309 | 5470458 |
|  Diamondback Energy, Inc. | 35939 | 5142871 |
|  Occidental Petroleum Corp. | 107773 | 5092274 |
|  ONEOK, Inc. | 41883 | 3056203 |
|  |  | 18761806 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 28482810 |
|  **Financials (15.2%)** |  |  |
|  ***Banks (8.1%)*** |  |  |
|  Commerce Bancshares, Inc. | 168219 | 10052767 |
|  First Hawaiian, Inc. | 158259 | 3929571 |
|  PNC Financial Services Group, Inc. (The) | 22192 | 4459039 |
|  Prosperity Bancshares, Inc. | 116330 | 7718495 |
|  Truist Financial Corp. | 224405 | 10259797 |
|  US Bancorp | 245203 | 11850661 |
|  Westamerica Bancorp | 54250 | 2711957 |
|  |  | 50982287 |
|  ***Capital Markets (2.8%)*** |  |  |
|  Bank of New York Mellon Corp. (The) | 25028 | 2727051 |
|  Northern Trust Corp. | 68037 | 9157780 |
|  Raymond James Financial, Inc. | 7260 | 1253076 |
| T. Rowe Price Group, Inc. | 43459 | 4460632 |
|  |  | 17598539 |
|  ***Insurance (4.3%)*** |  |  |
|  Allstate Corp. (The) | 17964 | 3855973 |
|  Hanover Insurance Group, Inc. (The) | 14473 | 2628731 |
|  Reinsurance Group of America, Inc. | 49611 | 9531761 |
|  Willis Towers Watson plc | 32557 | 11246816 |
|  |  | 27263281 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 95844107 |
|  **Health Care (15.0%)** |  |  |
|  ***Health Care Equipment & Supplies (8.1%)*** |  |  |
|  Becton Dickinson & Co. | 50239 | 9403234 |
|  Envista Holdings Corp.\* | 190318 | 3876778 |
|  GE HealthCare Technologies, Inc. | 113070 | 8491557 |
|  Hologic, Inc.\* | 91404 | 6168856 |
|  Medtronic plc | 61394 | 5847164 |
|  Zimmer Biomet Holdings, Inc. | 172747 | 17015579 |
|  |  | 50803168 |
|  ***Health Care Providers & Services (5.6%)*** |  |  |
|  Cencora, Inc. | 7582 | 2369602 |
|  Henry Schein, Inc.\* | 179883 | 11938835 |
|  Labcorp Holdings, Inc. | 34400 | 9874864 |
|  Quest Diagnostics, Inc. | 29471 | 5616583 |
|  Universal Health Services, Inc., Class B | 28116 | 5748035 |
|  |  | 35547919 |
|  ***Life Sciences Tools & Services (1.3%)*** |  |  |
|  ICON plc\* | 16339 | 2859325 |
|  IQVIA Holdings, Inc.\* | 26737 | 5078426 |
|  |  | 7937751 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 94288838 |
|  **Industrials (15.8%)** |  |  |
|  ***Aerospace & Defense (1.8%)*** |  |  |
|  Hexcel Corp. | 52642 | 3300653 |
|  L3Harris Technologies, Inc. | 25414 | 7761690 |
|  |  | 11062343 |
|  ***Building Products (1.1%)*** |  |  |
|  A.O. Smith Corp. | 55687 | 4087983 |
|  Masco Corp. | 44031 | 3099342 |
|  |  | 7187325 |
|  ***Commercial Services & Supplies (0.6%)*** |  |  |
|  ABM Industries, Inc. | 82454 | 3802779 |
|  ***Construction & Engineering (0.1%)*** |  |  |
|  Vinci SA | 4501 | 623295 |
|  ***Electrical Equipment (0.3%)*** |  |  |
|  Emerson Electric Co. | 15693 | 2058608 |
|  ***Ground Transportation (2.7%)*** |  |  |
|  CSX Corp. | 291923 | 10366186 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AMERICAN CENTURY MID CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Norfolk Southern Corp. | 21109 | $6341354 |
|  |  | 16707540 |
|  ***Machinery (5.0%)*** |  |  |
|  Cummins, Inc. | 19408 | 8197357 |
|  Dover Corp. | 9843 | 1642108 |
|  Fortive Corp. | 47246 | 2314581 |
|  Oshkosh Corp. | 42098 | 5460111 |
|  PACCAR, Inc. | 47673 | 4687209 |
|  Timken Co. (The) | 66966 | 5034504 |
|  Toro Co. (The) | 51305 | 3909441 |
|  |  | 31245311 |
|  ***Passenger Airlines (1.0%)*** |  |  |
|  Southwest Airlines Co. | 192730 | 6150014 |
|  ***Trading Companies & Distributors (3.2%)*** |  |  |
|  Ashtead Group plc | 54032 | 3607948 |
|  Bunzl plc | 290621 | 9169486 |
|  MSC Industrial Direct Co., Inc., Class A | 80898 | 7453942 |
|  |  | 20231376 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 99068591 |
|  **Information Technology (6.5%)** |  |  |
|  ***Communications Equipment (0.4%)*** |  |  |
|  F5, Inc.\* | 7516 | 2429096 |
|  ***Electronic Equipment, Instruments & Components (1.5%)*** |  |  |
|  CDW Corp. | 19529 | 3110579 |
|  Ralliant Corp. | 65022 | 2843412 |
|  TE Connectivity plc | 14346 | 3149378 |
|  |  | 9103369 |
|  ***IT Services (1.8%)*** |  |  |
|  Amdocs Ltd. | 84840 | 6961122 |
|  Cognizant Technology Solutions Corp., Class A | 68333 | 4583094 |
|  |  | 11544216 |
|  ***Semiconductors & Semiconductor Equipment (1.7%)*** |  |  |
|  NXP Semiconductors NV | 12897 | 2937034 |
|  Teradyne, Inc. | 57277 | 7883606 |
|  |  | 10820640 |
|  ***Technology Hardware, Storage & Peripherals (1.1%)*** |  |  |
|  HP, Inc. | 262820 | 7156589 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 41053910 |
|  **Materials (5.3%)** |  |  |
|  ***Chemicals (1.2%)*** |  |  |
|  Akzo Nobel NV | 42581 | 3029529 |
|  PPG Industries, Inc. | 42201 | 4435747 |
|  |  | 7465276 |
|  ***Construction Materials (0.8%)*** |  |  |
|  Eagle Materials, Inc. | 22601 | 5266937 |
|  ***Containers & Packaging (2.4%)*** |  |  |
|  Graphic Packaging Holding Co. | 356460 | 6975922 |
|  Packaging Corp. of America | 37965 | 8273713 |
|  |  | 15249635 |
|  ***Metals & Mining (0.9%)*** |  |  |
|  Reliance, Inc. | 18867 | 5298419 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 33280267 |
|  **Real Estate (9.1%)** |  |  |
|  ***Health Care REITs (1.8%)*** |  |  |
|  Healthpeak Properties, Inc. (REIT) | 311979 | 5974398 |
|  Ventas, Inc. (REIT) | 74685 | 5227203 |
|  |  | 11201601 |
|  ***Residential REITs (1.6%)*** |  |  |
|  Equity Residential (REIT) | 127474 | 8251392 |
|  Essex Property Trust, Inc. (REIT) | 6748 | 1806170 |
|  |  | 10057562 |
|  ***Retail REITs (2.2%)*** |  |  |
|  Agree Realty Corp. (REIT) | 28128 | 1998213 |
|  Realty Income Corp. (REIT) | 162463 | 9876126 |
|  Regency Centers Corp. (REIT) | 27412 | 1998335 |
|  |  | 13872674 |
|  ***Specialized REITs (3.5%)*** |  |  |
|  American Tower Corp. (REIT) | 32519 | 6254054 |
|  Public Storage (REIT) | 24157 | 6977749 |
|  VICI Properties, Inc. (REIT), Class A | 267306 | 8716849 |
|  |  | 21948652 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 57080489 |
|  **Utilities (9.1%)** |  |  |
|  ***Electric Utilities (5.4%)*** |  |  |
|  Duke Energy Corp. | 35160 | 4351050 |
|  Evergy, Inc. | 130593 | 9927680 |
|  Eversource Energy | 104752 | 7452057 |
|  PPL Corp. | 26870 | 998489 |
|  Xcel Energy, Inc. | 135809 | 10952996 |
|  |  | 33682272 |
|  ***Gas Utilities (2.2%)*** |  |  |
|  ONE Gas, Inc.(x) | 99501 | 8053611 |
|  Spire, Inc. | 70369 | 5736481 |
|  |  | 13790092 |
|  ***Multi-Utilities (1.5%)*** |  |  |
|  Northwestern Energy Group, Inc. | 161751 | 9480226 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 56952590 |
|  **Total Common Stocks (95.7%)**<br> *(Cost $563,874,381)* |  | 601598438 |
|  MASTER LIMITED PARTNERSHIP: |  |  |
|  **Energy (1.6%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (1.6%)*** |  |  |
|  Enterprise Products Partners LP<br>(*Cost $8,167,319*) | 329910 | 10316286 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (1.2%)** |  |  |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 7381557 | 7384509 |
|  **Total Short-Term Investments (1.2%)**<br> *(Cost $7,384,423)* |  | 7384509 |
|  **Total Investments in Securities (98.5%)**<br> *(Cost $579,426,123)* |  | 619299233 |
|  **Other Assets Less Liabilities (1.5%)** |  | 9580461 |
|  **Net Assets (100%)** |  | $628879694 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AMERICAN CENTURY MID CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

*(q)* *Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.* 

*(x)* *All or a portion of security is on loan at September 30, 2025, the Portfolio had loaned securities with a total value of $1,173,711. This was collateralized by $1,195,556 of various U.S. Government Treasury Securities, ranging from 3.750% – 4.625%, maturing 5/15/28 – 7/31/31.* 

*Glossary:* 

*EUR — European Currency Unit* 

*GBP — British Pound* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AMERICAN CENTURY MID CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized**<br>**Appreciation**<br>**(Depreciation) ($)** |
|  USD | 7447281 | EUR | 6280181 | Citibank NA | 12/19/2025 | 40206 |
|  USD | 7444797 | EUR | 6280181 | Goldman Sachs & Co. LLC | 12/19/2025 | 37723 |
|  USD | 7446119 | EUR | 6280181 | Morgan Stanley | 12/19/2025 | 39045 |
|  USD | 7446669 | EUR | 6280181 | UBS AG | 12/19/2025 | 39594 |
|  USD | 5198755 | GBP | 3845845 | Bank of America | 12/19/2025 | 26028 |
|  USD | 5197869 | GBP | 3845845 | Citibank NA | 12/19/2025 | 25141 |
|  USD | 5196852 | GBP | 3845845 | Goldman Sachs & Co. LLC | 12/19/2025 | 24124 |
|  **Net unrealized appreciation** | **Net unrealized appreciation** | **Net unrealized appreciation** | **Net unrealized appreciation** |  |  | 231861 |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates, prepayment<br>speeds, credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in determining<br>the fair value of<br>investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $5092445 | $3256546 | $— | $8348991 |
|  Consumer Discretionary | 18738528 | 6737555 |  | 25476083 |
|  Consumer Staples | 35303475 | 26418287 |  | 61721762 |
|  Energy | 28482810 |  |  | 28482810 |
|  Financials | 95844107 |  |  | 95844107 |
|  Health Care | 94288838 |  |  | 94288838 |
|  Industrials | 85667862 | 13400729 |  | 99068591 |
|  Information Technology | 41053910 |  |  | 41053910 |
|  Materials | 30250738 | 3029529 |  | 33280267 |
|  Real Estate | 57080489 |  |  | 57080489 |
|  Utilities | 56952590 |  |  | 56952590 |
|  **Forward Currency Contracts** |  | 231861 |  | 231861 |
|  **Master Limited Partnerships** |  |  |  |  |
|  Energy | 10316286 |  |  | 10316286 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 7384509 |  |  | 7384509 |
|  **Total Assets** | $**566456587** | $**53074507** | $**—** | $**619531094** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**566456587** | $**53074507** | $**—** | $**619531094** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $76912608 |
|  Aggregate gross unrealized depreciation | (36637354) |
|  Net unrealized appreciation | $40275254 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $579255840 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AMERICAN CENTURY MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (65.1%)** |  |  |
|  iShares Core MSCI EAFE ETF | 331200 | $28917072 |
|  iShares Core S&P 500 ETF | 38700 | 25901910 |
|  iShares Core S&P Mid-Cap ETF | 102600 | 6695676 |
|  iShares Russell 2000 ETF | 30400 | 7355584 |
|  SPDR Portfolio S&P 500 ETF | 328700 | 25750358 |
|  Vanguard S&P 500 ETF | 42100 | 25781198 |
|  **Total Equity** |  | 120401798 |
|  **Fixed Income (34.5%)** |  |  |
|  Vanguard Intermediate-Term Corporate Bond ETF(x) | 757900 | 63746969 |
|  **Total Exchange Traded Funds (99.6%)<br>(***Cost $153,313,207)* |  | 184148767 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (8.0%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 13942791 | 13942791 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 878876 | 879227 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 14822018 |
|  **Total Short-Term Investments (8.0%)**<br> *(Cost $14,821,942)* |  | 14822018 |
|  **Total Investments in Securities (107.6%)**<br> *(Cost $168,135,149)* |  | 198970785 |
|  **Other Assets Less Liabilities (-7.6%)** |  | (14000958) |
|  **Net Assets (100%)** |  | $184969827 |

---

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $50,453,299. This was collateralized by $37,573,384 of various U.S. Government Treasury Securities, ranging from 0.000% – 5.375%, maturing 10/23/25 – 2/15/55 and by cash of $13,942,791 which was subsequently invested in investment companies.* 

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Exchange Traded Funds** | $184148767 | $— | $— | $184148767 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 14822018 |  |  | 14822018 |
|  **Total Assets** | $**198970785** | $**—** | $**—** | $**198970785** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**198970785** | $**—** | $**—** | $**198970785** |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/AMERICAN CENTURY MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $29303305 |
|  Aggregate gross unrealized depreciation | (179728) |
|  Net unrealized appreciation | $29123577 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $169847208 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CAPITAL GROUP RESEARCH PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Number of<br>Shares** |  | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |  |
|  **Communication Services (9.9%)** |  |  |  |
|  ***Entertainment (1.5%)*** |  |  |  |
|  Netflix, Inc.\* | 9168 |  | $10991698 |
|  ***Interactive Media & Services (7.8%)*** |  |  |  |
|  Alphabet, Inc., Class C | 115924 |  | 28233290 |
|  Meta Platforms, Inc., Class A | 33964 |  | 24942483 |
|  Pinterest, Inc., Class A\* | 85713 |  | 2757387 |
|  |  |  | 55933160 |
|  ***Media (0.6%)*** |  |  |  |
|  Charter Communications, Inc., Class A(x)\* | 15779 |  | 4340882 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  |  | 71265740 |
|  **Consumer Discretionary (9.5%)** |  |  |  |
|  ***Broadline Retail (3.3%)*** |  |  |  |
|  Amazon.com, Inc.\* | 109973 |  | 24146772 |
|  ***Hotels, Restaurants & Leisure (4.7%)*** |  |  |  |
|  Booking Holdings, Inc. | 840 |  | 4535387 |
|  Chipotle Mexican Grill, Inc.\* | 90609 |  | 3550967 |
|  Marriott International, Inc., Class A | 25822 |  | 6725081 |
|  Royal Caribbean Cruises Ltd. | 42748 |  | 13832398 |
|  Yum! Brands, Inc. | 33117 |  | 5033784 |
|  |  |  | 33677617 |
|  ***Specialty Retail (1.5%)*** |  |  |  |
|  Burlington Stores, Inc.\* | 21091 |  | 5367660 |
|  Tractor Supply Co. | 93320 |  | 5307108 |
|  |  |  | 10674768 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  |  | 68499157 |
|  **Consumer Staples (4.3%)** |  |  |  |
|  ***Food Products (0.9%)*** |  |  |  |
|  Mondelez International, Inc., Class A | 107000 |  | 6684290 |
|  ***Household Products (0.7%)*** |  |  |  |
|  Church & Dwight Co., Inc. | 58485 |  | 5125041 |
|  ***Tobacco (2.7%)*** |  |  |  |
|  Philip Morris International, Inc. | 117985 |  | 19137167 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  |  | 30946498 |
|  **Energy (0.5%)** |  |  |  |
|  ***Oil, Gas & Consumable Fuels (0.5%)*** |  |  |  |
|  ConocoPhillips | 37778 |  | 3573421 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  |  | 3573421 |
|  **Financials (13.9%)** |  |  |  |
|  ***Banks (3.5%)*** |  |  |  |
|  JPMorgan Chase & Co. | 55018 |  | 17354328 |
|  Truist Financial Corp. | 171000 |  | 7818120 |
|  |  |  | 25172448 |
|  ***Capital Markets (1.8%)*** |  |  |  |
|  KKR & Co., Inc. | 76814 |  | 9981979 |
|  S&P Global, Inc. | 6617 |  | 3220560 |
|  |  |  | 13202539 |
|  ***Consumer Finance (0.8%)*** |  |  |  |
|  Capital One Financial Corp. | 27031 |  | 5746250 |
|  ***Financial Services (4.8%)*** |  |  |  |
|  Mastercard, Inc., Class A | 26585 |  | 15121814 |
|  Toast, Inc., Class A\* | 212457 |  | 7756805 |
|  Visa, Inc., Class A | 34403 |  | 11744496 |
|  |  |  | 34623115 |
|  ***Insurance (3.0%)*** |  |  |  |
|  Arch Capital Group Ltd. | 45468 |  | 4125312 |
|  Marsh & McLennan Cos., Inc. | 41557 |  | 8374982 |
|  Progressive Corp. (The) | 35425 |  | 8748204 |
|  |  |  | 21248498 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  |  | 99992850 |
|  **Health Care (6.8%)** |  |  |  |
|  ***Biotechnology (1.9%)*** |  |  |  |
|  AbbVie, Inc. | 29190 |  | 6758653 |
|  Amgen, Inc. | 25921 |  | 7314906 |
|  |  |  | 14073559 |
|  ***Health Care Equipment & Supplies (0.9%)*** | ***Health Care Equipment & Supplies (0.9%)*** | **** |  |
|  Abbott Laboratories | 47876 |  | 6412511 |
|  ***Health Care Providers & Services (1.6%)*** | ***Health Care Providers & Services (1.6%)*** | **** |  |
|  Humana, Inc. | 11921 |  | 3101487 |
|  UnitedHealth Group, Inc. | 23495 |  | 8112823 |
|  |  |  | 11214310 |
|  ***Life Sciences Tools & Services (1.3%)*** |  |  |  |
|  Danaher Corp. | 22091 |  | 4379762 |
|  Mettler-Toledo International, Inc.\* | 3879 |  | 4761899 |
|  |  |  | 9141661 |
|  ***Pharmaceuticals (1.1%)*** |  |  |  |
|  Bristol-Myers Squibb Co. | 31364 |  | 1414516 |
|  Royalty Pharma plc, Class A | 184460 |  | 6507749 |
|  |  |  | 7922265 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  |  | 48764306 |
|  **Industrials (11.9%)** |  |  |  |
|  ***Aerospace & Defense (4.9%)*** |  |  |  |
|  ATI, Inc.\* | 119323 |  | 9705733 |
|  GE Aerospace | 49804 |  | 14982039 |
|  TransDigm Group, Inc. | 7772 |  | 10243651 |
|  |  |  | 34931423 |
|  ***Air Freight & Logistics (0.9%)*** |  |  |  |
|  FedEx Corp. | 28989 |  | 6835896 |
|  ***Building Products (0.9%)*** |  |  |  |
|  Carrier Global Corp. | 103911 |  | 6203487 |
|  ***Commercial Services & Supplies (0.5%)*** |  |  |  |
|  Waste Connections, Inc. | 18500 |  | 3252300 |
|  ***Ground Transportation (0.4%)*** |  |  |  |
|  Saia, Inc.\* | 8695 |  | 2602935 |
|  ***Machinery (0.8%)*** |  |  |  |
|  Ingersoll Rand, Inc. | 68954 |  | 5696979 |
|  ***Professional Services (0.9%)*** |  |  |  |
|  Dayforce, Inc.\* | 96795 |  | 6668208 |
|  ***Trading Companies & Distributors (2.6%)*** |  |  |  |
|  FTAI Aviation Ltd. | 61993 |  | 10344152 |
|  United Rentals, Inc. | 9045 |  | 8634900 |
|  |  |  | 18979052 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  |  | 85170280 |
|  **Information Technology (30.7%)** |  |  |  |
|  ***Electronic Equipment, Instruments & Components (2.0%)*** |  |  |  |
|  Amphenol Corp., Class A | 57377 |  | 7100404 |
|  TE Connectivity plc | 34882 |  | 7657645 |
|  |  |  | 14758049 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CAPITAL GROUP RESEARCH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***IT Services (0.7%)*** |  |  |
|  Accenture plc, Class A | 19456 | $4797850 |
|  ***Semiconductors & Semiconductor Equipment (16.9%)*** |  |  |
|  Broadcom, Inc. | 157895 | 52091140 |
|  Intel Corp.\* | 34846 | 1169083 |
|  KLA Corp. | 13744 | 14824278 |
|  Micron Technology, Inc. | 131827 | 22057294 |
|  NVIDIA Corp. | 167280 | 31211102 |
|  |  | 121352897 |
|  ***Software (9.0%)*** |  |  |
|  Atlassian Corp., Class A\* | 42970 | 6862309 |
|  Microsoft Corp. | 67832 | 35133585 |
|  Salesforce, Inc. | 53277 | 12626649 |
|  ServiceNow, Inc.\* | 10744 | 9887488 |
|  |  | 64510031 |
|  ***Technology Hardware, Storage & Peripherals (2.1%)*** |  |  |
|  Apple, Inc. | 59377 | 15119165 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 220537992 |
|  **Materials (2.2%)** |  |  |
|  ***Chemicals (2.2%)*** |  |  |
|  Air Products and Chemicals, Inc. | 18683 | 5095228 |
|  Corteva, Inc. | 49058 | 3317792 |
|  Linde plc | 15211 | 7225225 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 15638245 |
|  **Real Estate (1.4%)** |  |  |
|  ***Health Care REITs (1.4%)*** |  |  |
|  Welltower, Inc. (REIT) | 55510 | 9888552 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 9888552 |
|  **Utilities (7.2%)** |  |  |
|  ***Electric Utilities (2.8%)*** |  |  |
|  Constellation Energy Corp. | 60491 | 19905773 |
|  ***Gas Utilities (2.2%)*** |  |  |
|  Atmos Energy Corp. | 94500 | 16135875 |
|  ***Multi-Utilities (2.2%)*** |  |  |
|  NiSource, Inc. | 370000 | 16021000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 52062648 |
|  **Total Investments in Securities (98.3%)**<br> *(Cost $345,980,680)* |  | 706339689 |
|  **Other Assets Less Liabilities (1.7%)** |  | 12181910 |
|  **Net Assets (100%)** |  | $718521599 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CAPITAL GROUP RESEARCH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

*(x)* *All or a portion of security is on loan at September 30, 2025, the Portfolio had loaned securities with a total value of $3,515,842. This was collateralized by $3,605,318 of various U.S. Government Treasury Securities, ranging from 0.125% – 5.375%, maturing 7/15/26 – 2/15/55.* 

*Glossary:* 

*REIT — Real Estate Investment Trust* 

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $71265740 | $— | $— | $71265740 |
|  Consumer Discretionary | 68499157 |  |  | 68499157 |
|  Consumer Staples | 30946498 |  |  | 30946498 |
|  Energy | 3573421 |  |  | 3573421 |
|  Financials | 99992850 |  |  | 99992850 |
|  Health Care | 48764306 |  |  | 48764306 |
|  Industrials | 85170280 |  |  | 85170280 |
|  Information Technology | 220537992 |  |  | 220537992 |
|  Materials | 15638245 |  |  | 15638245 |
|  Real Estate | 9888552 |  |  | 9888552 |
|  Utilities | 52062648 |  |  | 52062648 |
|  **Total Assets** | $**706339689** | $**—** | $**—** | $**706339689** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**706339689** | $**—** | $**—** | $**706339689** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $363449704 |
|  Aggregate gross unrealized depreciation | (8586922) |
|  Net unrealized appreciation | $354862782 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $351476907 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CLEARBRIDGE LARGE CAP GROWTH ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (13.6%)** |  |  |
|  ***Entertainment (4.0%)*** |  |  |
|  Netflix, Inc.\* | 15553 | $18646803 |
|  ***Interactive Media & Services (9.6%)*** |  |  |
|  Alphabet, Inc., Class A | 51500 | 12519650 |
|  Meta Platforms, Inc., Class A | 43503 | 31947733 |
|  |  | 44467383 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 63114186 |
|  **Consumer Discretionary (13.4%)** |  |  |
|  ***Automobiles (2.7%)*** |  |  |
|  Tesla, Inc.\* | 27700 | 12318744 |
|  ***Broadline Retail (7.8%)*** |  |  |
|  Amazon.com, Inc.\* | 164520 | 36123657 |
|  ***Hotels, Restaurants & Leisure (2.9%)*** |  |  |
|  Airbnb, Inc., Class A\* | 52300 | 6350266 |
|  Chipotle Mexican Grill, Inc.\* | 47300 | 1853687 |
|  Starbucks Corp. | 61400 | 5194440 |
|  |  | 13398393 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 61840794 |
|  **Consumer Staples (1.2%)** |  |  |
|  ***Beverages (1.2%)*** |  |  |
|  Monster Beverage Corp.\* | 82120 | 5527497 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 5527497 |
|  **Financials (8.1%)** |  |  |
|  ***Capital Markets (1.4%)*** |  |  |
|  S&P Global, Inc. | 12932 | 6294134 |
|  ***Financial Services (5.6%)*** |  |  |
|  PayPal Holdings, Inc.\* | 90800 | 6089048 |
|  Visa, Inc., Class A | 58761 | 20059830 |
|  |  | 26148878 |
|  ***Insurance (1.1%)*** |  |  |
|  Marsh & McLennan Cos., Inc. | 26096 | 5259127 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 37702139 |
|  **Health Care (6.2%)** |  |  |
|  ***Biotechnology (1.3%)*** |  |  |
|  Vertex Pharmaceuticals, Inc.\* | 15000 | 5874600 |
|  ***Health Care Equipment & Supplies (3.4%)*** |  |  |
|  Intuitive Surgical, Inc.\* | 21000 | 9391830 |
|  Stryker Corp. | 16700 | 6173489 |
|  |  | 15565319 |
|  ***Life Sciences Tools & Services (1.5%)*** |  |  |
|  Thermo Fisher Scientific, Inc. | 14497 | 7031335 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 28471254 |
|  **Industrials (8.4%)** |  |  |
|  ***Aerospace & Defense (1.4%)*** |  |  |
|  Airbus SE (ADR) | 110719 | 6446060 |
|  ***Electrical Equipment (2.3%)*** |  |  |
|  Eaton Corp. plc | 28960 | 10838280 |
|  ***Ground Transportation (1.7%)*** |  |  |
|  Uber Technologies, Inc.\* | 81180 | 7953205 |
|  ***Industrial Conglomerates (1.2%)*** |  |  |
|  Honeywell International, Inc. | 26100 | 5494050 |
|  ***Trading Companies & Distributors (1.8%)*** |  |  |
|  W.W. Grainger, Inc. | 8540 | 8138278 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 38869873 |
|  **Information Technology (43.0%)** |  |  |
|  ***Semiconductors & Semiconductor Equipment (18.9%)*** |  |  |
|  ASML Holding NV (Registered) (ADR) | 9240 | 8945151 |
|  Broadcom, Inc. | 25557 | 8431510 |
|  Marvell Technology, Inc. | 47900 | 4026953 |
|  NVIDIA Corp. | 311200 | 58063696 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. (ADR) | 28654 | 8002776 |
|  |  | 87470086 |
|  ***Software (18.1%)*** |  |  |
|  Datadog, Inc., Class A\* | 17500 | 2492000 |
|  Intuit, Inc. | 15200 | 10380232 |
|  Microsoft Corp. | 74227 | 38445875 |
|  Oracle Corp. | 31300 | 8802812 |
|  Palo Alto Networks, Inc.\* | 56500 | 11504530 |
|  Salesforce, Inc. | 18405 | 4361985 |
|  Synopsys, Inc.\* | 15723 | 7757571 |
|  |  | 83745005 |
|  ***Technology Hardware, Storage & Peripherals (6.0%)*** |  |  |
|  Apple, Inc. | 108534 | 27636012 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 198851103 |
|  **Materials (2.8%)** |  |  |
|  ***Chemicals (2.8%)*** |  |  |
|  Linde plc | 12800 | 6080000 |
|  Sherwin-Williams Co. (The) | 20100 | 6959826 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 13039826 |
|  **Real Estate (1.4%)** |  |  |
|  ***Specialized REITs (1.4%)*** |  |  |
|  Equinix, Inc. (REIT) | 8200 | 6422568 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 6422568 |
|  **Total Investments in Securities (98.1%)**<br> *(Cost $174,667,905)* |  | 453839240 |
|  **Other Assets Less Liabilities (1.9%)** |  | 8960528 |
|  **Net Assets (100%)** |  | $462799768 |

---

*\** *Non-income producing.* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CLEARBRIDGE LARGE CAP GROWTH ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*Glossary:* 

*ADR — American Depositary Receipt* 

*REIT — Real Estate Investment Trust* 

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $63114186 | $— | $— | $63114186 |
|  Consumer Discretionary | 61840794 |  |  | 61840794 |
|  Consumer Staples | 5527497 |  |  | 5527497 |
|  Financials | 37702139 |  |  | 37702139 |
|  Health Care | 28471254 |  |  | 28471254 |
|  Industrials | 38869873 |  |  | 38869873 |
|  Information Technology | 198851103 |  |  | 198851103 |
|  Materials | 13039826 |  |  | 13039826 |
|  Real Estate | 6422568 |  |  | 6422568 |
|  **Total Assets** | $**453839240** | $**—** | $**—** | $**453839240** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**453839240** | $**—** | $**—** | $**453839240** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $287060104 |
|  Aggregate gross unrealized depreciation | (7918067) |
|  Net unrealized appreciation | $279142037 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $174697203 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CLEARBRIDGE SELECT EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Number of<br>Shares** |  | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |  |
|  **Communication Services (5.3%)** |  |  |  |
|  ***Diversified Telecommunication Services (0.3%)*** | ***Diversified Telecommunication Services (0.3%)*** | **** |  |
|  AT&T, Inc. | 33249 |  | $938952 |
|  Verizon Communications, Inc. | 19605 |  | 861640 |
|  |  |  | 1800592 |
|  ***Entertainment (1.2%)*** |  |  |  |
|  Electronic Arts, Inc. | 1034 |  | 208558 |
|  Live Nation Entertainment, Inc.\* | 23899 |  | 3905096 |
|  Netflix, Inc.\* | 1976 |  | 2369066 |
|  Take-Two Interactive Software, Inc.\* | 799 |  | 206430 |
|  TKO Group Holdings, Inc., Class A | 307 |  | 62002 |
|  Walt Disney Co. (The) | 8360 |  | 957220 |
|  Warner Bros Discovery, Inc.\* | 11512 |  | 224829 |
|  |  |  | 7933201 |
|  ***Interactive Media & Services (3.6%)*** |  |  |  |
|  Alphabet, Inc., Class A | 27048 |  | 6575369 |
|  Alphabet, Inc., Class C | 21714 |  | 5288445 |
|  Match Group, Inc. | 1119 |  | 39523 |
|  Meta Platforms, Inc., Class A | 10085 |  | 7406222 |
|  Reddit, Inc., Class A\* | 19400 |  | 4461806 |
|  |  |  | 23771365 |
|  ***Media (0.1%)*** |  |  |  |
|  Charter Communications, Inc., Class A\* | 420 |  | 115544 |
|  Comcast Corp., Class A | 17124 |  | 538036 |
|  Fox Corp., Class A | 1012 |  | 63817 |
|  Fox Corp., Class B | 676 |  | 38728 |
|  Interpublic Group of Cos., Inc. (The) | 1754 |  | 48954 |
|  News Corp., Class A | 1638 |  | 50303 |
|  News Corp., Class B | 511 |  | 17655 |
|  Omnicom Group, Inc. | 938 |  | 76475 |
|  Paramount Skydance Corp., Class B(x) | 1228 |  | 23234 |
|  Trade Desk, Inc. (The), Class A\* | 1988 |  | 97432 |
|  |  |  | 1070178 |
|  ***Wireless Telecommunication Services (0.1%)*** |  |  |  |
|  T-Mobile US, Inc. | 2251 |  | 538844 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  |  | 35114180 |
|  **Consumer Discretionary (9.0%)** |  |  |  |
|  ***Automobile Components (0.0%)†*** |  |  |  |
|  Aptiv plc\* | 1006 |  | 86737 |
|  Automobiles (0.9%) |  |  |  |
|  Ford Motor Co. | 18270 |  | 218509 |
|  General Motors Co. | 4501 |  | 274426 |
|  Tesla, Inc.\* | 13048 |  | 5802707 |
|  |  |  | 6295642 |
|  ***Broadline Retail (3.8%)*** |  |  |  |
|  Amazon.com, Inc.\* | 45128 |  | 9908755 |
|  eBay, Inc. | 2104 |  | 191359 |
|  Global-e Online Ltd.\* | 97317 |  | 3480056 |
|  MercadoLibre, Inc.\* | 4945 |  | 11556168 |
|  |  |  | 25136338 |
|  ***Distributors (0.0%)†*** |  |  |  |
|  Genuine Parts Co. | 655 |  | 90783 |
|  LKQ Corp. | 1237 |  | 37778 |
|  Pool Corp. | 148 |  | 45890 |
|  |  |  | 174451 |
|  ***Hotels, Restaurants & Leisure (1.3%)*** |  |  |  |
|  Airbnb, Inc., Class A\* | 2029 |  | 246361 |
|  Booking Holdings, Inc. | 151 |  | 815290 |
|  Carnival Corp.\* | 4839 |  | 139895 |
|  Chipotle Mexican Grill, Inc.\* | 6195 |  | 242782 |
|  Darden Restaurants, Inc. | 532 |  | 101272 |
|  Domino's Pizza, Inc. | 145 |  | 62598 |
|  DoorDash, Inc., Class A\* | 1721 |  | 468095 |
|  Expedia Group, Inc. | 16218 |  | 3466598 |
|  Hilton Worldwide Holdings, Inc. | 1094 |  | 283827 |
|  Las Vegas Sands Corp. | 1403 |  | 75467 |
|  Marriott International, Inc., Class A | 1048 |  | 272941 |
|  McDonald's Corp. | 3318 |  | 1008307 |
|  MGM Resorts International\* | 1035 |  | 35873 |
|  Norwegian Cruise Line Holdings Ltd.\* | 1998 |  | 49211 |
|  Royal Caribbean Cruises Ltd. | 1174 |  | 379883 |
|  Starbucks Corp. | 5343 |  | 452018 |
|  Wynn Resorts Ltd. | 379 |  | 48614 |
|  Yum! Brands, Inc. | 1292 |  | 196384 |
|  |  |  | 8345416 |
|  ***Household Durables (0.1%)*** |  |  |  |
|  DR Horton, Inc. | 1274 |  | 215905 |
|  Garmin Ltd. | 761 |  | 187373 |
|  Lennar Corp., Class A | 1078 |  | 135871 |
|  Mohawk Industries, Inc.\* | 219 |  | 28234 |
|  NVR, Inc.\* | 13 |  | 104451 |
|  PulteGroup, Inc. | 917 |  | 121163 |
|  |  |  | 792997 |
|  ***Leisure Products (0.0%)†*** |  |  |  |
|  Hasbro, Inc. | 618 |  | 46875 |
|  ***Specialty Retail (2.4%)*** |  |  |  |
|  AutoZone, Inc.\* | 77 |  | 330348 |
|  Best Buy Co., Inc. | 892 |  | 67453 |
|  Burlington Stores, Inc.\* | 20251 |  | 5153880 |
|  CarMax, Inc.\* | 766 |  | 34370 |
|  Home Depot, Inc. (The) | 4626 |  | 1874409 |
|  Lowe's Cos., Inc. | 25545 |  | 6419714 |
|  O'Reilly Automotive, Inc.\* | 3928 |  | 423478 |
|  Ross Stores, Inc. | 1540 |  | 234681 |
|  TJX Cos., Inc. (The) | 5187 |  | 749729 |
|  Tractor Supply Co. | 2472 |  | 140583 |
|  Ulta Beauty, Inc.\* | 216 |  | 118098 |
|  Williams-Sonoma, Inc. | 556 |  | 108670 |
|  |  |  | 15655413 |
|  ***Textiles, Apparel & Luxury Goods (0.5%)*** |  |  |  |
|  Crocs, Inc.\* | 30785 |  | 2572087 |
|  Deckers Outdoor Corp.\* | 672 |  | 68120 |
|  Lululemon Athletica, Inc.\* | 505 |  | 89855 |
|  NIKE, Inc., Class B | 5560 |  | 387699 |
|  Ralph Lauren Corp. | 189 |  | 59263 |
|  Tapestry, Inc. | 980 |  | 110955 |
|  |  |  | 3287979 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  |  | 59821848 |
|  **Consumer Staples (6.1%)** |  |  |  |
|  ***Beverages (1.0%)*** |  |  |  |
|  Brown-Forman Corp., Class B | 929 |  | 25157 |
|  Coca-Cola Co. (The) | 18010 |  | 1194423 |
|  Constellation Brands, Inc., Class A | 650 |  | 87536 |
|  Keurig Dr Pepper, Inc. | 6332 |  | 161529 |
|  Molson Coors Beverage Co., Class B | 725 |  | 32806 |
|  Monster Beverage Corp.\* | 61428 |  | 4134719 |
|  PepsiCo, Inc. | 6366 |  | 894041 |
|  |  |  | 6530211 |
|  ***Consumer Staples Distribution & Retail (4.1%)*** |  |  |  |
|  Casey's General Stores, Inc. | 18360 |  | 10379275 |
|  Costco Wholesale Corp. | 2062 |  | 1908649 |
|  Dollar General Corp. | 1053 |  | 108828 |
|  Dollar Tree, Inc.\* | 915 |  | 86349 |
|  Grocery Outlet Holding Corp.\* | 87500 |  | 1404375 |
|  Kroger Co. (The) | 2810 |  | 189422 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CLEARBRIDGE SELECT EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Performance Food Group Co.\* | 103177 | $10734535 |
|  Sysco Corp. | 2259 | 186006 |
|  Target Corp. | 2153 | 193124 |
|  Walmart, Inc. | 20392 | 2101599 |
|  |  | 27292162 |
|  ***Food Products (0.2%)*** |  |  |
|  Archer-Daniels-Midland Co. | 2199 | 131368 |
|  Bunge Global SA | 673 | 54681 |
|  Campbell's Co. (The)(x) | 1027 | 32433 |
|  Conagra Brands, Inc. | 2295 | 42022 |
|  General Mills, Inc. | 2527 | 127411 |
|  Hershey Co. (The) | 676 | 126446 |
|  Hormel Foods Corp. | 1261 | 31197 |
|  J M Smucker Co. (The) | 472 | 51259 |
|  Kellanova | 1299 | 106544 |
|  Kraft Heinz Co. (The) | 3966 | 103275 |
|  Lamb Weston Holdings, Inc. | 623 | 36184 |
|  McCormick & Co., Inc. (Non- Voting) | 1229 | 82232 |
|  Mondelez International, Inc., Class A | 5983 | 373758 |
|  Tyson Foods, Inc., Class A | 1356 | 73631 |
|  |  | 1372441 |
|  ***Household Products (0.5%)*** |  |  |
|  Church & Dwight Co., Inc. | 1110 | 97269 |
|  Clorox Co. (The) | 587 | 72377 |
|  Colgate-Palmolive Co. | 18523 | 1480729 |
|  Kimberly-Clark Corp. | 1555 | 193349 |
|  Procter & Gamble Co. (The) | 10892 | 1673556 |
|  |  | 3517280 |
|  ***Personal Care Products (0.0%)†*** |  |  |
|  Estee Lauder Cos., Inc. (The), Class A | 1114 | 98166 |
|  Kenvue, Inc. | 8966 | 145518 |
|  |  | 243684 |
|  ***Tobacco (0.3%)*** |  |  |
|  Altria Group, Inc. | 7793 | 514805 |
|  Philip Morris International, Inc. | 7238 | 1174004 |
|  |  | 1688809 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 40644587 |
|  **Energy (3.0%)** |  |  |
|  ***Energy Equipment & Services (1.0%)*** |  |  |
|  Baker Hughes Co. | 131114 | 6387874 |
|  Halliburton Co. | 3801 | 93504 |
|  Schlumberger NV | 7005 | 240762 |
|  |  | 6722140 |
|  ***Oil, Gas & Consumable Fuels (2.0%)*** |  |  |
|  APA Corp. | 1661 | 40329 |
|  Chevron Corp. | 8949 | 1389690 |
|  ConocoPhillips | 5807 | 549284 |
|  Coterra Energy, Inc. | 3504 | 82870 |
|  Devon Energy Corp. | 2907 | 101920 |
|  Diamondback Energy, Inc. | 19551 | 2797748 |
|  EOG Resources, Inc. | 2551 | 286018 |
|  EQT Corp. | 2954 | 160786 |
|  Expand Energy Corp. | 33523 | 3561484 |
|  Exxon Mobil Corp. | 19824 | 2235156 |
|  Kinder Morgan, Inc. | 9046 | 256092 |
|  Marathon Petroleum Corp. | 1434 | 276389 |
|  Occidental Petroleum Corp. | 3289 | 155405 |
|  ONEOK, Inc. | 2915 | 212708 |
|  Phillips 66 | 1875 | 255038 |
|  Targa Resources Corp. | 1013 | 169718 |
|  Texas Pacific Land Corp. | 91 | 84961 |
|  Valero Energy Corp. | 1436 | 244493 |
|  Venture Global, Inc., Class A | 18675 | 264998 |
|  Williams Cos., Inc. (The) | 5628 | 356534 |
|  |  | 13481621 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 20203761 |
|  **Financials (8.3%)** |  |  |
|  ***Banks (1.4%)*** |  |  |
|  Bank of America Corp. | 31686 | 1634681 |
|  Citigroup, Inc. | 8560 | 868840 |
|  Citizens Financial Group, Inc. | 1941 | 103183 |
|  Fifth Third Bancorp | 3078 | 137125 |
|  Huntington Bancshares, Inc. | 7076 | 122202 |
|  JPMorgan Chase & Co. | 12786 | 4033088 |
|  KeyCorp | 4300 | 80367 |
|  M&T Bank Corp. | 715 | 141298 |
|  PNC Financial Services Group, Inc. (The) | 1818 | 365291 |
|  Regions Financial Corp. | 4081 | 107616 |
|  Truist Financial Corp. | 5996 | 274137 |
|  US Bancorp | 7194 | 347686 |
|  Wells Fargo & Co. | 14896 | 1248583 |
|  |  | 9464097 |
|  ***Capital Markets (3.7%)*** |  |  |
|  Ameriprise Financial, Inc. | 432 | 212220 |
|  Bank of New York Mellon Corp. (The) | 3280 | 357389 |
|  BlackRock, Inc.‡ | 670 | 781133 |
|  Blackstone, Inc. | 3444 | 588407 |
|  Cboe Global Markets, Inc. | 476 | 116739 |
|  Charles Schwab Corp. (The) | 68134 | 6504753 |
|  CME Group, Inc. | 1670 | 451217 |
|  Coinbase Global, Inc., Class A\* | 1052 | 355039 |
|  FactSet Research Systems, Inc. | 177 | 50709 |
|  Franklin Resources, Inc. | 1448 | 33492 |
|  Goldman Sachs Group, Inc. (The) | 1408 | 1121261 |
|  Interactive Brokers Group, Inc., Class A | 2056 | 141473 |
|  Intercontinental Exchange, Inc. | 29143 | 4910013 |
|  Invesco Ltd. | 1971 | 45215 |
|  KKR & Co., Inc. | 43281 | 5624366 |
|  Moody's Corp. | 714 | 340207 |
|  Morgan Stanley | 5641 | 896693 |
|  MSCI, Inc. | 360 | 204267 |
|  Nasdaq, Inc. | 2108 | 186453 |
|  Northern Trust Corp. | 892 | 120063 |
|  Raymond James Financial, Inc. | 838 | 144639 |
|  Robinhood Markets, Inc., Class A\* | 3599 | 515305 |
|  S&P Global, Inc. | 1453 | 707190 |
|  State Street Corp. | 1317 | 152785 |
| T. Rowe Price Group, Inc. | 1011 | 103769 |
|  |  | 24664797 |
|  ***Consumer Finance (0.2%)*** |  |  |
|  American Express Co. | 2524 | 838372 |
|  Capital One Financial Corp. | 2974 | 632213 |
|  Synchrony Financial | 1713 | 121708 |
|  |  | 1592293 |
|  ***Financial Services (2.2%)*** |  |  |
|  Apollo Global Management, Inc. | 2120 | 282532 |
|  Berkshire Hathaway, Inc., Class B\* | 8527 | 4286864 |
|  Block, Inc., Class A\* | 2547 | 184072 |
|  Chime Financial, Inc., Class A(x)\* | 26115 | 526740 |
|  Corpay, Inc.\* | 331 | 95348 |
|  Fidelity National Information Services, Inc. | 2441 | 160959 |
|  Fiserv, Inc.\* | 2528 | 325935 |
|  Global Payments, Inc. | 1115 | 92634 |
|  Jack Henry & Associates, Inc. | 355 | 52870 |
|  Mastercard, Inc., Class A | 3828 | 2177405 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CLEARBRIDGE SELECT EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  PayPal Holdings, Inc.\* | 4398 | $294930 |
|  Shift4 Payments, Inc., Class A(x)\* | 45400 | 3513960 |
|  Visa, Inc., Class A | 7899 | 2696561 |
|  |  | 14690810 |
|  ***Insurance (0.8%)*** |  |  |
|  Aflac, Inc. | 2228 | 248868 |
|  Allstate Corp. (The) | 1243 | 266810 |
|  American International Group, Inc. | 2576 | 202319 |
|  Aon plc, Class A | 997 | 355510 |
|  Arch Capital Group Ltd. | 1739 | 157779 |
|  Arthur J Gallagher & Co. | 1204 | 372927 |
|  Assurant, Inc. | 221 | 47869 |
|  Brown & Brown, Inc. | 1359 | 127461 |
|  Chubb Ltd. | 1716 | 484341 |
|  Cincinnati Financial Corp. | 749 | 118417 |
|  Erie Indemnity Co., Class A | 126 | 40088 |
|  Everest Group Ltd. | 198 | 69346 |
|  Globe Life, Inc. | 387 | 55329 |
|  Hartford Insurance Group, Inc. (The) | 1281 | 170873 |
|  Loews Corp. | 831 | 83424 |
|  Marsh & McLennan Cos., Inc. | 2276 | 458682 |
|  MetLife, Inc. | 2576 | 212185 |
|  Principal Financial Group, Inc. | 923 | 76526 |
|  Progressive Corp. (The) | 2726 | 673186 |
|  Prudential Financial, Inc. | 1650 | 171171 |
|  Travelers Cos., Inc. (The) | 1038 | 289830 |
|  W.R. Berkley Corp. | 1352 | 103590 |
|  Willis Towers Watson plc | 462 | 159598 |
|  |  | 4946129 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 55358126 |
|  **Health Care (8.9%)** |  |  |
|  ***Biotechnology (2.2%)*** |  |  |
|  AbbVie, Inc. | 8214 | 1901870 |
|  Amgen, Inc. | 2502 | 706064 |
|  Argenx SE (ADR)\* | 5900 | 4351604 |
|  Biogen, Inc.\* | 657 | 92033 |
|  Caris Life Sciences, Inc.(r)\* | 17370 | 446626 |
|  Caris Life Sciences, Inc. (Nasdaq Stock Exchange)(x)\* | 12464 | 377036 |
|  Gilead Sciences, Inc. | 5770 | 640470 |
|  Incyte Corp.\* | 724 | 61402 |
|  Moderna, Inc.\* | 1689 | 43627 |
|  Regeneron Pharmaceuticals, Inc. | 4074 | 2290688 |
|  TG Therapeutics, Inc.(x)\* | 51700 | 1867662 |
|  Ultragenyx Pharmaceutical, Inc.\* | 11570 | 348026 |
|  Vertex Pharmaceuticals, Inc.\* | 3787 | 1483141 |
|  |  | 14610249 |
|  ***Health Care Equipment & Supplies (1.9%)*** |  |  |
|  Abbott Laboratories | 8093 | 1083977 |
|  Align Technology, Inc.\* | 328 | 41072 |
|  Baxter International, Inc. | 2479 | 56447 |
|  Becton Dickinson & Co. | 1348 | 252305 |
|  Boston Scientific Corp.\* | 6884 | 672085 |
|  Cooper Cos., Inc. (The)\* | 922 | 63212 |
|  Dexcom, Inc.\* | 1797 | 120920 |
|  Edwards Lifesciences Corp.\* | 2747 | 213634 |
|  GE HealthCare Technologies, Inc. | 2120 | 159212 |
|  Hologic, Inc.\* | 1045 | 70527 |
|  IDEXX Laboratories, Inc.\* | 368 | 235112 |
|  Insulet Corp.\* | 17921 | 5532750 |
|  Intuitive Surgical, Inc.\* | 1667 | 745533 |
|  Medtronic plc | 5947 | 566392 |
|  Penumbra, Inc.\* | 7800 | 1975896 |
|  ResMed, Inc.(x) | 681 | 186410 |
|  Solventum Corp.\* | 637 | 46501 |
|  STERIS plc | 446 | 110358 |
|  Stryker Corp. | 1596 | 589993 |
|  Zimmer Biomet Holdings, Inc. | 940 | 92590 |
|  |  | 12814926 |
|  ***Health Care Providers & Services (2.1%)*** |  |  |
|  Cardinal Health, Inc. | 1130 | 177365 |
|  Cencora, Inc. | 902 | 281902 |
|  Centene Corp.\* | 2112 | 75356 |
|  Cigna Group (The) | 1256 | 362042 |
|  CVS Health Corp. | 5863 | 442012 |
|  DaVita, Inc.\* | 190 | 25245 |
|  Elevance Health, Inc. | 1059 | 342184 |
|  HCA Healthcare, Inc. | 762 | 324764 |
|  HealthEquity, Inc.\* | 48711 | 4616341 |
|  Henry Schein, Inc.\* | 448 | 29734 |
|  Humana, Inc. | 559 | 145435 |
|  Labcorp Holdings, Inc. | 377 | 108222 |
|  McKesson Corp. | 575 | 444211 |
|  Molina Healthcare, Inc.\* | 262 | 50136 |
|  Quest Diagnostics, Inc. | 540 | 102913 |
|  Surgery Partners, Inc.\* | 149022 | 3224836 |
|  UnitedHealth Group, Inc. | 8811 | 3042438 |
|  Universal Health Services, Inc., Class B | 252 | 51519 |
|  |  | 13846655 |
|  ***Health Care Technology (0.5%)*** |  |  |
|  Doximity, Inc., Class A\* | 48199 | 3525757 |
|  ***Life Sciences Tools & Services (1.1%)*** |  |  |
|  Agilent Technologies, Inc. | 1324 | 169935 |
|  Bio-Techne Corp. | 744 | 41389 |
|  Charles River Laboratories International, Inc.\* | 21837 | 3416617 |
|  Danaher Corp. | 2953 | 585462 |
|  IQVIA Holdings, Inc.\* | 763 | 144924 |
|  Mettler-Toledo International, Inc.\* | 93 | 114168 |
|  Revvity, Inc. | 538 | 47156 |
|  Sartorius AG (Preference)(q) | 7900 | 1835522 |
|  Thermo Fisher Scientific, Inc. | 1756 | 851695 |
|  Waters Corp.\* | 289 | 86645 |
|  West Pharmaceutical Services, Inc. | 322 | 84470 |
|  |  | 7377983 |
|  ***Pharmaceuticals (1.1%)*** |  |  |
|  Bristol-Myers Squibb Co. | 9435 | 425518 |
|  Eli Lilly & Co. | 3697 | 2820811 |
|  Johnson & Johnson | 11199 | 2076519 |
|  Merck & Co., Inc. | 11614 | 974763 |
|  Pfizer, Inc. | 26423 | 673258 |
|  Viatris, Inc. | 5780 | 57222 |
|  Zoetis, Inc. | 2084 | 304931 |
|  |  | 7333022 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 59508592 |
|  **Industrials (11.1%)** |  |  |
|  ***Aerospace & Defense (2.4%)*** |  |  |
|  Axon Enterprise, Inc.\* | 366 | 262656 |
|  Boeing Co. (The)\* | 3513 | 758211 |
|  Firefly Aerospace, Inc.\* | 7752 | 227289 |
|  GE Aerospace | 4931 | 1483343 |
|  General Dynamics Corp. | 1184 | 403744 |
|  Howmet Aerospace, Inc. | 1874 | 367735 |
|  Huntington Ingalls Industries, Inc. | 168 | 48369 |
|  Kratos Defense & Security Solutions, Inc.\* | 7200 | 657864 |
|  L3Harris Technologies, Inc. | 31136 | 9509246 |
|  Lockheed Martin Corp. | 955 | 476746 |
|  Northrop Grumman Corp. | 626 | 381434 |
|  RTX Corp. | 6224 | 1041462 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CLEARBRIDGE SELECT EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Textron, Inc. | 783 | $66156 |
|  TransDigm Group, Inc. | 265 | 349275 |
|  |  | 16033530 |
|  ***Air Freight & Logistics (0.6%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 530 | 70172 |
|  Expeditors International of Washington, Inc. | 660 | 80909 |
|  FedEx Corp. | 1002 | 236282 |
|  GXO Logistics, Inc.\* | 58802 | 3110038 |
|  United Parcel Service, Inc., Class B | 3448 | 288011 |
|  |  | 3785412 |
|  ***Building Products (0.6%)*** |  |  |
|  A.O. Smith Corp. | 539 | 39568 |
|  Allegion plc | 409 | 72536 |
|  Builders FirstSource, Inc.\* | 486 | 58928 |
|  Carrier Global Corp. | 3667 | 218920 |
|  Johnson Controls International plc | 3043 | 334578 |
|  Lennox International, Inc. | 141 | 74640 |
|  Masco Corp. | 1006 | 70812 |
|  Trane Technologies plc | 1047 | 441792 |
|  Trex Co., Inc.\* | 51588 | 2665552 |
|  |  | 3977326 |
|  ***Commercial Services & Supplies (2.5%)*** |  |  |
|  Casella Waste Systems, Inc., Class A\* | 9360 | 888077 |
|  Cintas Corp. | 1580 | 324311 |
|  Clean Harbors, Inc.\* | 11800 | 2740196 |
|  Copart, Inc.\* | 130019 | 5846954 |
|  Republic Services, Inc. | 946 | 217088 |
|  Rollins, Inc. | 1350 | 79299 |
|  Veralto Corp. | 1180 | 125800 |
|  Waste Connections, Inc. | 33800 | 5942040 |
|  Waste Management, Inc. | 1728 | 381594 |
|  |  | 16545359 |
|  ***Construction & Engineering (1.3%)*** |  |  |
|  Comfort Systems USA, Inc. | 6500 | 5363670 |
|  EMCOR Group, Inc. | 208 | 135104 |
|  Quanta Services, Inc. | 692 | 286779 |
|  WillScot Holdings Corp. | 131349 | 2772777 |
|  |  | 8558330 |
|  ***Electrical Equipment (1.2%)*** |  |  |
|  AMETEK, Inc. | 1072 | 201536 |
|  Eaton Corp. plc | 1810 | 677393 |
|  Emerson Electric Co. | 2597 | 340675 |
|  GE Vernova, Inc. | 1266 | 778463 |
|  Generac Holdings, Inc.\* | 270 | 45198 |
|  Hubbell, Inc., Class B | 253 | 108868 |
|  Rockwell Automation, Inc. | 527 | 184202 |
|  Vertiv Holdings Co., Class A | 36141 | 5452231 |
|  |  | 7788566 |
|  ***Ground Transportation (0.5%)*** |  |  |
|  CSX Corp. | 8796 | 312346 |
|  JB Hunt Transport Services, Inc. | 369 | 49509 |
|  Norfolk Southern Corp. | 1036 | 311225 |
|  Old Dominion Freight Line, Inc. | 862 | 121352 |
|  Saia, Inc.\* | 4200 | 1257312 |
|  Uber Technologies, Inc.\* | 9697 | 950015 |
|  Union Pacific Corp. | 2758 | 651908 |
|  |  | 3653667 |
|  ***Industrial Conglomerates (0.1%)*** |  |  |
|  3M Co. | 2464 | 382364 |
|  Honeywell International, Inc. | 2952 | 621396 |
|  |  | 1003760 |
|  ***Machinery (0.6%)*** |  |  |
|  Brain Corp.(r)\* | 52300 | 188672 |
|  Caterpillar, Inc. | 2178 | 1039233 |
|  Cummins, Inc. | 644 | 272006 |
|  Deere & Co. | 1170 | 534994 |
|  Dover Corp. | 622 | 103768 |
|  Fortive Corp. | 1642 | 80442 |
|  IDEX Corp. | 342 | 55664 |
|  Illinois Tool Works, Inc. | 1228 | 320213 |
|  Ingersoll Rand, Inc. | 1682 | 138967 |
|  Nordson Corp. | 235 | 53333 |
|  Otis Worldwide Corp. | 1841 | 168323 |
|  PACCAR, Inc. | 2454 | 241277 |
|  Parker-Hannifin Corp. | 599 | 454132 |
|  Pentair plc | 771 | 85396 |
|  Snap-on, Inc. | 231 | 80049 |
|  Stanley Black & Decker, Inc. | 715 | 53146 |
|  Westinghouse Air Brake |  |  |
|  Technologies Corp. | 791 | 158572 |
|  Xylem, Inc. | 1128 | 166380 |
|  |  | 4194567 |
|  ***Passenger Airlines (0.1%)*** |  |  |
|  Delta Air Lines, Inc. | 2988 | 169569 |
|  Southwest Airlines Co. | 2340 | 74669 |
|  United Airlines Holdings, Inc.\* | 1524 | 147066 |
|  |  | 391304 |
|  ***Professional Services (0.6%)*** |  |  |
|  Automatic Data Processing, Inc. | 1882 | 552367 |
|  Broadridge Financial Solutions, Inc. | 538 | 128136 |
|  Dayforce, Inc.\* | 787 | 54216 |
|  Equifax, Inc. | 572 | 146735 |
|  Jacobs Solutions, Inc. | 581 | 87069 |
|  Leidos Holdings, Inc. | 594 | 112242 |
|  Paychex, Inc. | 1489 | 188746 |
|  Paycom Software, Inc. | 227 | 47248 |
|  Verisk Analytics, Inc. | 9963 | 2505794 |
|  |  | 3822553 |
|  ***Trading Companies & Distributors (0.6%)*** |  |  |
|  Fastenal Co. | 5383 | 263982 |
|  United Rentals, Inc. | 3896 | 3719355 |
|  W.W. Grainger, Inc. | 209 | 199169 |
|  |  | 4182506 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 73936880 |
|  **Information Technology (33.5%)** |  |  |
|  ***Communications Equipment (0.3%)*** |  |  |
|  Arista Networks, Inc.\* | 4792 | 698242 |
|  Cisco Systems, Inc. | 18414 | 1259886 |
|  F5, Inc.\* | 266 | 85968 |
|  Motorola Solutions, Inc. | 771 | 352571 |
|  |  | 2396667 |
|  ***Electronic Equipment, Instruments & Components (0.6%)*** |  |  |
|  Amphenol Corp., Class A | 5709 | 706489 |
|  CDW Corp. | 601 | 95727 |
|  Coherent Corp.\* | 18500 | 1992820 |
|  Corning, Inc. | 3604 | 295636 |
|  Jabil, Inc. | 496 | 107716 |
|  Keysight Technologies, Inc.\* | 794 | 138887 |
|  TE Connectivity plc | 1359 | 298341 |
|  Teledyne Technologies, Inc.\* | 212 | 124241 |
|  Trimble, Inc.\* | 1132 | 92428 |
|  Zebra Technologies Corp., Class A\* | 244 | 72507 |
|  |  | 3924792 |
|  ***IT Services (1.6%)*** |  |  |
|  Accenture plc, Class A | 2896 | 714154 |
|  Akamai Technologies, Inc.\* | 680 | 51517 |
|  Cognizant Technology Solutions Corp., Class A | 2296 | 153993 |
|  EPAM Systems, Inc.\* | 264 | 39809 |
|  Gartner, Inc.\* | 342 | 89901 |
|  GoDaddy, Inc., Class A\* | 632 | 86476 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CLEARBRIDGE SELECT EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  International Business Machines Corp. | 4331 | $1222035 |
|  Shopify, Inc., Class A\* | 57247 | 8507477 |
|  VeriSign, Inc. | 386 | 107914 |
|  |  | 10973276 |
|  ***Semiconductors & Semiconductor Equipment (10.3%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 7546 | 1220867 |
|  Analog Devices, Inc. | 2299 | 564864 |
|  Applied Materials, Inc. | 3732 | 764090 |
|  Broadcom, Inc. | 21871 | 7215462 |
|  First Solar, Inc.\* | 511 | 112691 |
|  Intel Corp.\* | 20270 | 680058 |
|  KLA Corp. | 614 | 662260 |
|  Lam Research Corp. | 35585 | 4764832 |
|  Lattice Semiconductor Corp.\* | 13300 | 975156 |
|  Microchip Technology, Inc. | 2500 | 160550 |
|  Micron Technology, Inc. | 5204 | 870733 |
|  Monolithic Power Systems, Inc. | 223 | 205303 |
|  NVIDIA Corp. | 249825 | 46612349 |
|  NXP Semiconductors NV | 1192 | 271454 |
|  ON Semiconductor Corp.\* | 1846 | 91026 |
|  Qorvo, Inc.\* | 17600 | 1603008 |
|  QUALCOMM, Inc. | 5015 | 834295 |
|  Skyworks Solutions, Inc. | 705 | 54271 |
|  Teradyne, Inc. | 756 | 104056 |
|  Texas Instruments, Inc. | 4227 | 776627 |
|  |  | 68543952 |
|  ***Software (15.7%)*** |  |  |
|  Adobe, Inc.\* | 1972 | 695623 |
|  AppLovin Corp., Class A\* | 18659 | 13407238 |
|  Autodesk, Inc.\* | 11490 | 3650028 |
|  Cadence Design Systems, Inc.\* | 1282 | 450315 |
|  Crowdstrike Holdings, Inc., Class A\* | 1153 | 565408 |
|  CyberArk Software Ltd.\* | 5600 | 2705640 |
|  Databricks(r)\* | 15491 | 1742738 |
|  Datadog, Inc., Class A\* | 6729 | 958210 |
|  Docusign, Inc.\* | 61035 | 4400013 |
|  Fair Isaac Corp.\* | 113 | 169108 |
|  Fortinet, Inc.\* | 70085 | 5892747 |
|  Gen Digital, Inc. | 2640 | 74950 |
|  HubSpot, Inc.\* | 6955 | 3253549 |
|  Intuit, Inc. | 1297 | 885734 |
|  Klaviyo, Inc., Class A\* | 24691 | 683694 |
|  Microsoft Corp. | 72163 | 37376826 |
|  Monday.com Ltd.\* | 3400 | 658546 |
|  Netskope, Inc., Class A\* | 16534 | 375818 |
|  Oracle Corp. | 7710 | 2168360 |
|  Palantir Technologies, Inc., Class A\* | 10575 | 1929091 |
|  Palo Alto Networks, Inc.\* | 3125 | 636312 |
|  PTC, Inc.\* | 543 | 110240 |
|  Roper Technologies, Inc. | 503 | 250841 |
|  Rubrik, Inc., Class A\* | 15600 | 1283100 |
|  SailPoint, Inc.(x)\* | 75991 | 1677881 |
|  Salesforce, Inc. | 4445 | 1053465 |
|  SentinelOne, Inc., Class A\* | 108938 | 1918398 |
|  ServiceNow, Inc.\* | 12642 | 11634180 |
|  Sprout Social, Inc., Class A\* | 46766 | 604217 |
|  Synopsys, Inc.\* | 854 | 421355 |
|  Tyler Technologies, Inc.\* | 208 | 108817 |
|  Varonis Systems, Inc.\* | 48400 | 2781548 |
|  Workday, Inc., Class A\* | 997 | 240008 |
|  |  | 104763998 |
|  ***Technology Hardware, Storage & Peripherals (5.0%)*** |  |  |
|  Apple, Inc. | 125856 | 32046713 |
|  Dell Technologies, Inc., Class C | 1429 | 202589 |
|  Hewlett Packard Enterprise Co. | 6027 | 148023 |
|  HP, Inc. | 4512 | 122862 |
|  NetApp, Inc. | 910 | 107799 |
|  Seagate Technology Holdings plc | 979 | 231103 |
|  Super Micro Computer, Inc.(x)\* | 2414 | 115727 |
|  Western Digital Corp. | 1585 | 190295 |
|  |  | 33165111 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 223767796 |
|  **Materials (1.2%)** |  |  |
|  ***Chemicals (0.4%)*** |  |  |
|  Air Products and Chemicals, Inc. | 1049 | 286083 |
|  Albemarle Corp. | 528 | 42810 |
|  CF Industries Holdings, Inc. | 750 | 67275 |
|  Corteva, Inc. | 3122 | 211141 |
|  Dow, Inc. | 3366 | 77182 |
|  DuPont de Nemours, Inc. | 1929 | 150269 |
|  Eastman Chemical Co. | 518 | 32660 |
|  Ecolab, Inc. | 1191 | 326167 |
|  International Flavors & Fragrances, Inc. | 1245 | 76617 |
|  Linde plc | 2180 | 1035500 |
|  LyondellBasell Industries NV, Class A | 1248 | 61202 |
|  Mosaic Co. (The) | 1512 | 52436 |
|  PPG Industries, Inc. | 1059 | 111312 |
|  Sherwin-Williams Co. (The) | 1079 | 373615 |
|  |  | 2904269 |
|  ***Construction Materials (0.6%)*** |  |  |
|  Martin Marietta Materials, Inc. | 281 | 177109 |
|  Vulcan Materials Co. | 12116 | 3727124 |
|  |  | 3904233 |
|  ***Containers & Packaging (0.1%)*** |  |  |
|  Amcor plc | 10956 | 89620 |
|  Avery Dennison Corp. | 361 | 58543 |
|  Ball Corp. | 1338 | 67462 |
|  International Paper Co. | 2393 | 111035 |
|  Packaging Corp. of America | 434 | 94582 |
|  Smurfit WestRock plc | 2407 | 102466 |
|  |  | 523708 |
|  ***Metals & Mining (0.1%)*** |  |  |
|  Freeport-McMoRan, Inc. | 6766 | 265363 |
|  Newmont Corp. | 5106 | 430487 |
|  Nucor Corp. | 1082 | 146535 |
|  Steel Dynamics, Inc. | 670 | 93418 |
|  |  | 935803 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 8268013 |
|  **Real Estate (2.3%)** |  |  |
|  ***Health Care REITs (0.1%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) | 720 | 60005 |
|  Healthpeak Properties, Inc. (REIT) | 3332 | 63808 |
|  Ventas, Inc. (REIT) | 2128 | 148939 |
|  Welltower, Inc. (REIT) | 3110 | 554015 |
|  |  | 826767 |
|  ***Hotel & Resort REITs (0.0%)†*** |  |  |
|  Host Hotels & Resorts, Inc. (REIT) | 3206 | 54566 |
|  ***Industrial REITs (0.1%)*** |  |  |
|  Prologis, Inc. (REIT) | 4293 | 491634 |
|  ***Office REITs (0.0%)†*** |  |  |
|  BXP, Inc. (REIT)(x) | 654 | 48618 |
|  ***Real Estate Management & Development (1.2%)*** |  |  |
|  CBRE Group, Inc., Class A\* | 50168 | 7904470 |
|  CoStar Group, Inc.\* | 1964 | 165703 |
|  |  | 8070173 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CLEARBRIDGE SELECT EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***Residential REITs (0.1%)*** |  |  |
|  AvalonBay Communities, Inc. (REIT) | 651 | $125754 |
|  Camden Property Trust (REIT) | 514 | 54885 |
|  Equity Residential (REIT) | 1663 | 107646 |
|  Essex Property Trust, Inc. (REIT) | 303 | 81101 |
|  Invitation Homes, Inc. (REIT) | 2738 | 80306 |
|  Mid-America Apartment Communities, Inc. (REIT) | 551 | 76991 |
|  UDR, Inc. (REIT) | 1409 | 52499 |
|  |  | 579182 |
|  ***Retail REITs (0.1%)*** |  |  |
|  Federal Realty Investment |  |  |
|  Trust (REIT) | 379 | 38397 |
|  Kimco Realty Corp. (REIT) | 3179 | 69461 |
|  Realty Income Corp. (REIT) | 4260 | 258965 |
|  Regency Centers Corp. (REIT) | 710 | 51759 |
|  Simon Property Group, Inc. (REIT) | 1518 | 284883 |
|  |  | 703465 |
|  ***Specialized REITs (0.7%)*** |  |  |
|  American Tower Corp. (REIT) | 2169 | 417142 |
|  Crown Castle, Inc. (REIT) | 2038 | 196647 |
|  Digital Realty Trust, Inc. (REIT) | 1482 | 256208 |
|  Equinix, Inc. (REIT) | 461 | 361074 |
|  Extra Space Storage, Inc. (REIT) | 975 | 137417 |
|  Iron Mountain, Inc. (REIT) | 1351 | 137721 |
|  Public Storage (REIT) | 739 | 213460 |
|  SBA Communications Corp. (REIT) | 12772 | 2469466 |
|  VICI Properties, Inc. (REIT), Class A | 4892 | 159528 |
|  Weyerhaeuser Co. (REIT) | 3203 | 79402 |
|  |  | 4428065 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 15202470 |
|  **Utilities (1.1%)** |  |  |
|  ***Electric Utilities (0.6%)*** |  |  |
|  Alliant Energy Corp. | 1222 | 82375 |
|  American Electric Power Co., Inc. | 2508 | 282150 |
|  Constellation Energy Corp. | 1449 | 476822 |
|  Duke Energy Corp. | 3604 | 445995 |
|  Edison International | 1852 | 102379 |
|  Entergy Corp. | 2087 | 194487 |
|  Evergy, Inc. | 1093 | 83090 |
|  Eversource Energy | 1750 | 124495 |
|  Exelon Corp. | 4719 | 212402 |
|  FirstEnergy Corp. | 2497 | 114412 |
|  NextEra Energy, Inc. | 9575 | 722817 |
|  NRG Energy, Inc. | 877 | 142030 |
|  PG&E Corp. | 10161 | 153228 |
|  Pinnacle West Capital Corp. | 563 | 50479 |
|  PPL Corp. | 3375 | 125415 |
|  Southern Co. (The) | 5080 | 481432 |
|  Xcel Energy, Inc. | 2687 | 216707 |
|  |  | 4010715 |
|  ***Gas Utilities (0.0%)†*** |  |  |
|  Atmos Energy Corp. | 760 | 129770 |
|  ***Independent Power and Renewable Electricity Producers (0.2%)*** |  |  |
|  AES Corp. (The) | 3611 | 47521 |
|  Vistra Corp. | 6281 | 1230573 |
|  |  | 1278094 |
|  ***Multi-Utilities (0.3%)*** |  |  |
|  Ameren Corp. | 1237 | 129118 |
|  CenterPoint Energy, Inc. | 2966 | 115081 |
|  CMS Energy Corp. | 1447 | 106007 |
|  Consolidated Edison, Inc. | 1686 | 169477 |
|  Dominion Energy, Inc. | 3926 | 240153 |
|  DTE Energy Co. | 943 | 133369 |
|  NiSource, Inc. | 2287 | 99027 |
|  Public Service Enterprise Group, Inc. | 2334 | 194796 |
|  Sempra | 3083 | 277408 |
|  WEC Energy Group, Inc. | 1473 | 168791 |
|  |  | 1633227 |
|  ***Water Utilities (0.0%)†*** |  |  |
|  American Water Works Co., Inc. | 895 | 124575 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 7176381 |
|  **Total Common Stocks (89.8%)**<br> *(Cost $338,195,538)* |  | 599002634 |
|  PREFERRED STOCK: |  |  |
|  **Information Technology (0.0%)†** |  |  |
|  ***Software (0.0%)†*** |  |  |
|  DataRobot, Inc.<br>0.000%(r)\* | 22891 | 61462 |
|  **Total Preferred Stock (0.0%)†**<br> *(Cost $300,834)* |  | 61462 |
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Convertible Bond (0.5%)** |  |  |
|  **Communication Services (0.5%)** |  |  |
|  ***Entertainment (0.5%)*** |  |  |
|  Live Nation Entertainment, Inc.<br>3.125%, 1/15/29 | $1955000 | 3153630 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 3153630 |
|  **Total Long-Term Debt Securities (0.5%)**<br> *(Cost $2,047,544)* |  | 3153630 |
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (8.5%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 640863 | 640863 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 56294232 | 56316750 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 56957613 |
|  **Total Short-Term Investments (8.5%)**<br> *(Cost $56,958,957)* |  | 56957613 |
|  **Total Investments in Securities (98.8%)**<br> *(Cost $397,502,873)* |  | 659175339 |
|  **Other Assets Less Liabilities (1.2%)** |  | 8280422 |
|  **Net Assets (100%)** |  | $667455761 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CLEARBRIDGE SELECT EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

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

*(q)* *Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $2,989,079. This was collateralized by $2,465,782 of various U.S. Government Treasury Securities, ranging from 0.000% – 4.875%, maturing 10/9/25 – 5/15/55 and by cash of $640,863 which was subsequently invested in investment companies.* 

*Glossary:*

*ADR* *— American Depositary Receipt* 

*REIT* *— Real Estate Investment Trust* 

*USD* *— United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CLEARBRIDGE SELECT EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases<br>at<br>Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain**<br>**Distributions<br>($)** |
|  COMMON STOCKS: |  |  |  |  |  |  |  |  |  |
|  **Financials** |  |  |  |  |  |  |  |  |  |
|  **Capital Markets** |  |  |  |  |  |  |  |  |  |
|  BlackRock, Inc. | 670 | 815988 |  | (124340) | 3897 | 85588 | 781133 | 11332 |  |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  S&P 500 E-Mini Index | 190 | 12/2025 | USD | 64018125 | 754911 |
|  |  |  |  |  | 754911 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CLEARBRIDGE SELECT EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $35114180 | $— | $— | $35114180 |
|  Consumer Discretionary | 59821848 |  |  | 59821848 |
|  Consumer Staples | 40644587 |  |  | 40644587 |
|  Energy | 20203761 |  |  | 20203761 |
|  Financials | 55358126 |  |  | 55358126 |
|  Health Care | 57226444 | 1835522 | 446626 | 59508592 |
|  Industrials | 73748208 |  | 188672 | 73936880 |
|  Information Technology | 222025058 |  | 1742738 | 223767796 |
|  Materials | 8268013 |  |  | 8268013 |
|  Real Estate | 15202470 |  |  | 15202470 |
|  Utilities | 7176381 |  |  | 7176381 |
|  **Convertible Bonds** |  |  |  |  |
|  Communication Services |  | 3153630 |  | 3153630 |
|  **Futures** | 754911 |  |  | 754911 |
|  **Preferred Stocks** |  |  |  |  |
|  Information Technology |  |  | 61462 | 61462 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 56957613 |  |  | 56957613 |
|  **Total Assets** | $**652501600** | $**4989152** | $**2439498** | $**659930250** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**652501600** | $**4989152** | $**2439498** | $**659930250** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $294760426 |
|  Aggregate gross unrealized depreciation | (30645274) |
|  Net unrealized appreciation | $264115152 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $395815098 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/COMMON STOCK INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (9.6%)** |  |  |
|  ***Diversified Telecommunication Services (0.6%)*** |  |  |
|  AST SpaceMobile, Inc., Class A\* | 21600 | $1060128 |
|  AT&T, Inc. | 880078 | 24853403 |
|  Cogent Communications Holdings, Inc.(x) | 4300 | 164905 |
|  Frontier Communications Parent, Inc.\* | 37900 | 1415565 |
|  GCI Liberty, Inc., Class A\* | 200 | 7511 |
|  GCI Liberty, Inc., Class C\* | 2925 | 109015 |
|  Globalstar, Inc.(x)\* | 5033 | 183151 |
|  Iridium Communications, Inc. | 11300 | 197298 |
|  Liberty Global Ltd., Class A\* | 21600 | 247536 |
|  Liberty Global Ltd., Class C\* | 19900 | 233825 |
|  Lumen Technologies, Inc.\* | 135700 | 830484 |
|  Uniti Group, Inc.(x) | 20438 | 125080 |
|  Verizon Communications, Inc. | 525794 | 23108646 |
|  |  | 52536547 |
|  ***Entertainment (1.8%)*** |  |  |
|  Electronic Arts, Inc. | 32700 | 6595590 |
|  Liberty Media Corp.-Liberty Formula One, Class A\* | 2995 | 285184 |
|  Liberty Media Corp.-Liberty Formula One, Class C\* | 31379 | 3277537 |
|  Liberty Media Corp.-Liberty Live, Class C\* | 4634 | 449359 |
|  Live Nation Entertainment, Inc.\* | 20800 | 3398720 |
|  Madison Square Garden Sports Corp.\* | 2500 | 567500 |
|  Netflix, Inc.\* | 52300 | 62703516 |
|  Playtika Holding Corp. | 43142 | 167822 |
|  ROBLOX Corp., Class A\* | 68100 | 9433212 |
|  Roku, Inc.\* | 18500 | 1852405 |
|  Spotify Technology SA\* | 19260 | 13443480 |
|  Take-Two Interactive Software, Inc.\* | 22111 | 5712598 |
|  TKO Group Holdings, Inc., Class A | 10800 | 2181168 |
|  Walt Disney Co. (The) | 225439 | 25812766 |
|  Warner Bros Discovery, Inc.\* | 314246 | 6137224 |
|  |  | 142018081 |
|  ***Interactive Media & Services (6.6%)*** |  |  |
|  Alphabet, Inc., Class A | 717540 | 174433974 |
|  Alphabet, Inc., Class C | 584300 | 142306265 |
|  Angi, Inc., Class A\* | 2756 | 44813 |
|  Cargurus, Inc., Class A\* | 6900 | 256887 |
|  Grindr, Inc.\* | 17500 | 262850 |
|  IAC, Inc.\* | 5250 | 178867 |
|  Match Group, Inc. | 44698 | 1578733 |
|  Meta Platforms, Inc., Class A | 269487 | 197905863 |
|  Pinterest, Inc., Class A\* | 73500 | 2364495 |
|  Reddit, Inc., Class A\* | 14600 | 3357854 |
|  TripAdvisor, Inc.\* | 17100 | 278046 |
|  Trump Media & Technology Group Corp.(x)\* | 33200 | 545144 |
|  Yelp, Inc., Class A\* | 8100 | 252720 |
|  Ziff Davis, Inc.\* | 3800 | 144780 |
|  |  | 523911291 |
|  ***Media (0.4%)*** |  |  |
|  Cable One, Inc.(x) | 500 | 88525 |
|  Charter Communications, Inc., Class A\* | 11379 | 3130420 |
|  Comcast Corp., Class A | 464648 | 14599240 |
|  DoubleVerify Holdings, Inc.\* | 19700 | 236006 |
|  EchoStar Corp., Class A\* | 16600 | 1267576 |
|  Fox Corp., Class A | 26708 | 1684207 |
|  Fox Corp., Class B | 18600 | 1065594 |
|  Interpublic Group of Cos., Inc. (The) | 61700 | 1722047 |
|  John Wiley & Sons, Inc., Class A | 800 | 32376 |
|  Liberty Broadband Corp., Class A\* | 1000 | 63330 |
|  Liberty Broadband Corp., Class C\* | 14628 | 929463 |
|  New York Times Co. (The), Class A | 20500 | 1176700 |
|  News Corp., Class A | 45961 | 1411462 |
|  News Corp., Class B | 13800 | 476790 |
|  Nexstar Media Group, Inc., Class A(x) | 6272 | 1240225 |
|  Omnicom Group, Inc. | 27400 | 2233922 |
|  Sirius XM Holdings, Inc. | 4600 | 107065 |
|  TEGNA, Inc. | 17800 | 361874 |
|  Trade Desk, Inc. (The), Class A\* | 61660 | 3021957 |
|  |  | 34848779 |
|  ***Wireless Telecommunication Services (0.2%)*** |  |  |
|  Millicom International Cellular SA | 7000 | 339780 |
|  Telephone and Data Systems, Inc. | 9400 | 368856 |
|  T-Mobile US, Inc. | 57003 | 13645378 |
|  |  | 14354014 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 767668712 |
|  **Consumer Discretionary (10.7%)** |  |  |
|  ***Automobile Components (0.1%)*** |  |  |
|  Adient plc\* | 15253 | 367292 |
|  Aptiv plc\* | 30800 | 2655576 |
|  BorgWarner, Inc. | 35360 | 1554426 |
|  Dana, Inc. | 19100 | 382764 |
|  Dorman Products, Inc.\* | 2600 | 405288 |
|  Fox Factory Holding Corp.\* | 6900 | 167601 |
|  Gentex Corp. | 38800 | 1098040 |
|  Goodyear Tire & Rubber Co. (The)\* | 39400 | 294712 |
|  LCI Industries | 3100 | 288765 |
|  Lear Corp. | 10600 | 1066466 |
|  Modine Manufacturing Co.\* | 6600 | 938256 |
|  Phinia, Inc. | 7072 | 406498 |
|  QuantumScape Corp., Class A(x)\* | 33400 | 411488 |
|  Visteon Corp. | 900 | 107874 |
|  |  | 10145046 |
|  ***Automobiles (2.2%)*** |  |  |
|  Ford Motor Co. | 504036 | 6028271 |
|  General Motors Co. | 127200 | 7755384 |
|  Rivian Automotive, Inc., Class A(x)\* | 95884 | 1407577 |
|  Tesla, Inc.\* | 347227 | 154418791 |
|  Thor Industries, Inc. | 6300 | 653247 |
|  |  | 170263270 |
|  ***Broadline Retail (3.4%)*** |  |  |
|  Amazon.com, Inc.\* | 1184175 | 260009305 |
|  Coupang, Inc., Class A\* | 161600 | 5203520 |
|  eBay, Inc. | 62770 | 5708931 |
|  Etsy, Inc.\* | 20900 | 1387551 |
|  Ollie's Bargain Outlet Holdings, Inc.\* | 10100 | 1296840 |
|  |  | 273606147 |
|  ***Distributors (0.1%)*** |  |  |
|  Genuine Parts Co. | 17100 | 2370060 |
|  LKQ Corp. | 37900 | 1157466 |
|  Pool Corp. | 4400 | 1364308 |
|  |  | 4891834 |
|  ***Diversified Consumer Services (0.1%)*** |  |  |
|  ADT, Inc. | 18814 | 163870 |
|  Adtalem Global Education, Inc.\* | 4700 | 725915 |
|  Bright Horizons Family Solutions, Inc.\* | 7500 | 814275 |
|  Coursera, Inc.\* | 13100 | 153401 |
|  Duolingo, Inc., Class A\* | 4800 | 1544832 |
|  Graham Holdings Co., Class B | 400 | 470924 |
|  Grand Canyon Education, Inc.\* | 2800 | 614656 |
|  H&R Block, Inc. | 25450 | 1287006 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/COMMON STOCK INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Matthews International Corp., Class A(x) | 7100 | $172388 |
|  Mister Car Wash, Inc.\* | 8900 | 47437 |
|  Service Corp. International | 23900 | 1988958 |
|  Strategic Education, Inc. | 2600 | 223626 |
|  Stride, Inc.\* | 5500 | 819170 |
|  |  | 9026458 |
|  ***Hotels, Restaurants & Leisure (2.1%)*** |  |  |
|  Airbnb, Inc., Class A\* | 55000 | 6678100 |
|  Aramark | 35100 | 1347840 |
|  Booking Holdings, Inc. | 4080 | 22029022 |
|  Boyd Gaming Corp. | 9100 | 786695 |
|  Brinker International, Inc.\* | 5800 | 734744 |
|  Caesars Entertainment, Inc.\* | 33000 | 891825 |
|  Carnival Corp.\* | 141160 | 4080936 |
|  Cava Group, Inc.\* | 10400 | 628264 |
|  Chipotle Mexican Grill, Inc.\* | 168300 | 6595677 |
|  Churchill Downs, Inc. | 13200 | 1280532 |
|  Darden Restaurants, Inc. | 15350 | 2922026 |
|  Domino's Pizza, Inc. | 5100 | 2201721 |
|  DoorDash, Inc., Class A\* | 44998 | 12239006 |
|  DraftKings, Inc., Class A\* | 61700 | 2307580 |
|  Dutch Bros, Inc., Class A\* | 14500 | 758930 |
|  Expedia Group, Inc. | 16287 | 3481346 |
|  Flutter Entertainment plc, Class DI\* | 22000 | 5588000 |
|  Hilton Worldwide Holdings, Inc. | 29087 | 7546331 |
|  Hyatt Hotels Corp., Class A | 7100 | 1007703 |
|  Las Vegas Sands Corp. | 40200 | 2162358 |
|  Light & Wonder, Inc.\* | 15800 | 1326252 |
|  Marriott International, Inc., Class A | 30205 | 7866590 |
|  McDonald's Corp. | 89721 | 27265315 |
|  MGM Resorts International\* | 33500 | 1161110 |
|  Norwegian Cruise Line Holdings Ltd.\* | 55300 | 1362039 |
|  Papa John's International, Inc. | 5200 | 250380 |
|  Planet Fitness, Inc., Class A\* | 12600 | 1307880 |
|  Red Rock Resorts, Inc., Class A | 6100 | 372466 |
|  Restaurant Brands International, Inc. | 40600 | 2604084 |
|  Royal Caribbean Cruises Ltd. | 30850 | 9982443 |
|  Shake Shack, Inc., Class A\* | 4800 | 449328 |
|  Starbucks Corp. | 145600 | 12317760 |
|  Texas Roadhouse, Inc., Class A | 8400 | 1395660 |
|  Travel + Leisure Co. | 5470 | 325410 |
|  Vail Resorts, Inc. | 6500 | 972205 |
|  Viking Holdings Ltd.\* | 25500 | 1585080 |
|  Wingstop, Inc. | 4000 | 1006720 |
|  Wyndham Hotels & Resorts, Inc. | 14570 | 1164143 |
|  Wynn Resorts Ltd. | 10300 | 1321181 |
|  Yum! Brands, Inc. | 37440 | 5690880 |
|  |  | 164995562 |
|  ***Household Durables (0.4%)*** |  |  |
|  Champion Homes, Inc.\* | 7600 | 580412 |
|  DR Horton, Inc. | 33900 | 5745033 |
|  Garmin Ltd. | 21900 | 5392218 |
|  Helen of Troy Ltd.\* | 1700 | 42840 |
|  Installed Building Products, Inc.(x) | 2700 | 665982 |
|  Leggett & Platt, Inc. | 10100 | 89688 |
|  Lennar Corp., Class A | 31389 | 3956270 |
|  Lennar Corp., Class B(x) | 1300 | 155987 |
|  LGI Homes, Inc.\* | 200 | 10342 |
|  M/I Homes, Inc.\* | 900 | 129996 |
|  Meritage Homes Corp. | 8700 | 630141 |
|  Mohawk Industries, Inc.\* | 7200 | 928224 |
|  Newell Brands, Inc. | 26190 | 137236 |
|  NVR, Inc.\* | 400 | 3213864 |
|  PulteGroup, Inc. | 24900 | 3290037 |
|  SharkNinja, Inc.\* | 9100 | 938665 |
|  Somnigroup International, Inc. | 25500 | 2150415 |
|  Sonos, Inc.\* | 13700 | 216460 |
|  Taylor Morrison Home Corp., Class A\* | 14900 | 983549 |
|  Toll Brothers, Inc. | 15300 | 2113542 |
|  TopBuild Corp.\* | 4711 | 1841341 |
|  Tri Pointe Homes, Inc.\* | 5000 | 169850 |
|  Whirlpool Corp.(x) | 6700 | 526620 |
|  |  | 33908712 |
|  ***Leisure Products (0.1%)*** |  |  |
|  Acushnet Holdings Corp. | 6600 | 518034 |
|  Hasbro, Inc. | 22600 | 1714210 |
|  Mattel, Inc.\* | 54800 | 922284 |
|  Peloton Interactive, Inc., Class A\* | 44903 | 404127 |
|  Polaris, Inc.(x) | 2600 | 151138 |
|  Topgolf Callaway Brands Corp.\* | 16300 | 154850 |
|  YETI Holdings, Inc.\* | 12900 | 428022 |
|  |  | 4292665 |
|  ***Specialty Retail (1.9%)*** |  |  |
|  Advance Auto Parts, Inc.(x) | 8500 | 521900 |
|  American Eagle Outfitters, Inc.(x) | 25800 | 441438 |
|  Asbury Automotive Group, Inc.\* | 1600 | 391120 |
|  AutoNation, Inc.\* | 2700 | 590679 |
|  AutoZone, Inc.\* | 2090 | 8966602 |
|  Bath & Body Works, Inc. | 41190 | 1061054 |
|  Best Buy Co., Inc. | 31110 | 2352538 |
|  Boot Barn Holdings, Inc.\* | 3700 | 613164 |
|  Burlington Stores, Inc.\* | 7800 | 1985100 |
|  CarMax, Inc.\* | 18150 | 814391 |
|  Carvana Co.\* | 16100 | 6073564 |
|  Chewy, Inc., Class A\* | 26200 | 1059790 |
|  Dick's Sporting Goods, Inc. | 9713 | 2158423 |
|  Five Below, Inc.\* | 8200 | 1268540 |
|  Floor & Decor Holdings, Inc., Class A(x)\* | 16700 | 1230790 |
|  GameStop Corp., Class A\* | 51500 | 1404920 |
|  Gap, Inc. (The) | 25700 | 549723 |
|  Group 1 Automotive, Inc. | 1900 | 831269 |
|  Home Depot, Inc. (The) | 122940 | 49814059 |
|  Lithia Motors, Inc., Class A | 4300 | 1358800 |
|  Lowe's Cos., Inc. | 69963 | 17582402 |
|  Monro, Inc. | 1800 | 32346 |
|  Murphy USA, Inc. | 2555 | 992004 |
|  O'Reilly Automotive, Inc.\* | 105250 | 11347002 |
|  Penske Automotive Group, Inc.(x) | 2000 | 347820 |
|  RH(x)\* | 2000 | 406320 |
|  Ross Stores, Inc. | 43420 | 6616774 |
|  TJX Cos., Inc. (The) | 138100 | 19960974 |
|  Tractor Supply Co. | 72000 | 4094640 |
|  Ulta Beauty, Inc.\* | 5700 | 3116475 |
|  Upbound Group, Inc. | 9600 | 226848 |
|  Urban Outfitters, Inc.(x)\* | 8000 | 571440 |
|  Valvoline, Inc.\* | 11388 | 408943 |
|  Victoria's Secret & Co.\* | 13730 | 372632 |
|  Wayfair, Inc., Class A(x)\* | 11800 | 1054094 |
|  Williams-Sonoma, Inc. | 15600 | 3049020 |
|  |  | 153667598 |
|  ***Textiles, Apparel & Luxury Goods (0.3%)*** |  |  |
|  Amer Sports, Inc.\* | 18700 | 649825 |
|  Capri Holdings Ltd.\* | 15600 | 310752 |
|  Carter's, Inc.(x) | 4180 | 117960 |
|  Columbia Sportswear Co. | 700 | 36610 |
|  Deckers Outdoor Corp.\* | 20000 | 2027400 |
|  Kontoor Brands, Inc. | 7400 | 590298 |
|  Lululemon Athletica, Inc.\* | 13200 | 2348676 |
|  NIKE, Inc., Class B | 145120 | 10119218 |
|  On Holding AG, Class A\* | 27600 | 1168860 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/COMMON STOCK INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  PVH Corp. | 6981 | $584798 |
|  Ralph Lauren Corp. | 6470 | 2028733 |
|  Tapestry, Inc. | 29927 | 3388335 |
|  Under Armour, Inc., Class A\* | 44900 | 224051 |
|  VF Corp. | 43300 | 624819 |
|  |  | 24220335 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 849017627 |
|  **Consumer Staples (4.7%)** |  |  |
|  ***Beverages (0.9%)*** |  |  |
|  Celsius Holdings, Inc.\* | 22800 | 1310772 |
|  Coca-Cola Co. (The) | 487840 | 32353549 |
|  Coca-Cola Consolidated, Inc. | 7000 | 820120 |
|  Constellation Brands, Inc., Class A | 16400 | 2208588 |
|  Keurig Dr Pepper, Inc. | 154510 | 3941550 |
|  Molson Coors Beverage Co., Class B | 20650 | 934412 |
|  Monster Beverage Corp.\* | 86300 | 5808853 |
|  PepsiCo, Inc. | 170090 | 23887440 |
|  Primo Brands Corp. | 30800 | 680680 |
|  |  | 71945964 |
|  ***Consumer Staples Distribution & Retail (1.8%)*** |  |  |
|  Albertsons Cos., Inc., Class A | 61400 | 1075114 |
|  BJ's Wholesale Club Holdings, Inc.\* | 20700 | 1930275 |
|  Casey's General Stores, Inc. | 5200 | 2939664 |
|  Costco Wholesale Corp. | 54750 | 50678242 |
|  Dollar General Corp. | 27100 | 2800785 |
|  Dollar Tree, Inc.\* | 27923 | 2635094 |
|  Kroger Co. (The) | 76120 | 5131249 |
|  Maplebear, Inc.\* | 23600 | 867536 |
|  Performance Food Group Co.\* | 23132 | 2406653 |
|  Sprouts Farmers Market, Inc.\* | 12500 | 1360000 |
|  Sysco Corp. | 63450 | 5224473 |
|  Target Corp. | 60160 | 5396352 |
|  US Foods Holding Corp.\* | 30600 | 2344572 |
|  Walmart, Inc. | 541660 | 55823480 |
|  |  | 140613489 |
|  ***Food Products (0.5%)*** |  |  |
|  Archer-Daniels-Midland Co. | 57760 | 3450582 |
|  Bunge Global SA | 22080 | 1794000 |
|  Cal-Maine Foods, Inc. | 5700 | 536370 |
|  Campbell's Co. (The)(x) | 31300 | 988454 |
|  Conagra Brands, Inc. | 77592 | 1420710 |
|  Darling Ingredients, Inc.\* | 28800 | 889056 |
|  General Mills, Inc. | 76300 | 3847046 |
|  Hershey Co. (The) | 18650 | 3488482 |
|  Hormel Foods Corp. | 44500 | 1100930 |
|  Ingredion, Inc. | 8200 | 1001302 |
|  J M Smucker Co. (The) | 12403 | 1346966 |
|  Kellanova | 32300 | 2649246 |
|  Kraft Heinz Co. (The) | 118536 | 3086677 |
|  Lamb Weston Holdings, Inc. | 22050 | 1280664 |
|  McCormick & Co., Inc. (Non-Voting) | 31800 | 2127738 |
|  Mondelez International, Inc., Class A | 162510 | 10152000 |
|  Post Holdings, Inc.\* | 9400 | 1010312 |
|  Tyson Foods, Inc., Class A | 39200 | 2128560 |
|  |  | 42299095 |
|  ***Household Products (0.8%)*** |  |  |
|  Church & Dwight Co., Inc. | 33700 | 2953131 |
|  Clorox Co. (The) | 16250 | 2003625 |
|  Colgate-Palmolive Co. | 102520 | 8195449 |
|  Kimberly-Clark Corp. | 44400 | 5520696 |
|  Procter & Gamble Co. (The) | 289945 | 44550049 |
|  |  | 63222950 |
|  ***Personal Care Products (0.1%)*** |  |  |
|  BellRing Brands, Inc.\* | 19717 | 716713 |
|  e.l.f. Beauty, Inc.\* | 6900 | 914112 |
|  Estee Lauder Cos., Inc. (The), Class A | 28100 | 2476172 |
|  Kenvue, Inc. | 250956 | 4073016 |
|  |  | 8180013 |
|  ***Tobacco (0.6%)*** |  |  |
|  Altria Group, Inc. | 207190 | 13686972 |
|  Philip Morris International, Inc. | 193230 | 31341906 |
|  |  | 45028878 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 371290389 |
|  **Energy (3.0%)** |  |  |
|  ***Energy Equipment & Services (0.3%)*** |  |  |
|  Archrock, Inc. | 12600 | 331506 |
|  Baker Hughes Co. | 130084 | 6337693 |
|  Cactus, Inc., Class A | 4300 | 169721 |
|  Halliburton Co. | 125730 | 3092958 |
|  Helmerich & Payne, Inc. | 3900 | 86151 |
|  Innovex International, Inc.\* | 1000 | 18540 |
|  Kodiak Gas Services, Inc.(x) | 12000 | 443640 |
|  Liberty Energy, Inc., Class A | 21863 | 269789 |
|  Noble Corp. plc | 13200 | 373296 |
|  NOV, Inc. | 51480 | 682110 |
|  Oceaneering International, Inc.\* | 14000 | 346920 |
|  Patterson-UTI Energy, Inc. | 51000 | 264180 |
|  Schlumberger NV | 194171 | 6673657 |
|  TechnipFMC plc | 64700 | 2552415 |
|  Valaris Ltd.\* | 9900 | 482823 |
|  Weatherford International plc | 7900 | 540597 |
|  |  | 22665996 |
|  ***Oil, Gas & Consumable Fuels (2.7%)*** |  |  |
|  Antero Midstream Corp. | 54300 | 1055592 |
|  Antero Resources Corp.\* | 37300 | 1251788 |
|  APA Corp. | 56117 | 1362521 |
|  California Resources Corp. | 8300 | 441394 |
|  Centrus Energy Corp., Class A(x)\* | 3300 | 1023231 |
|  Cheniere Energy, Inc. | 28700 | 6743926 |
|  Chevron Corp. | 237068 | 36814290 |
|  Chord Energy Corp. | 7345 | 729872 |
|  Civitas Resources, Inc.(x) | 12000 | 390000 |
|  Clean Energy Fuels Corp.\* | 52500 | 135450 |
|  CNX Resources Corp.\* | 19600 | 629552 |
|  Comstock Resources, Inc.(x)\* | 20800 | 412464 |
|  ConocoPhillips | 158786 | 15019568 |
|  Core Natural Resources, Inc. | 4700 | 392356 |
|  Coterra Energy, Inc. | 110235 | 2607058 |
|  CVR Energy, Inc.\* | 11200 | 408576 |
|  Devon Energy Corp. | 89694 | 3144671 |
|  Diamondback Energy, Inc. | 24141 | 3454577 |
|  DT Midstream, Inc. | 17200 | 1944632 |
|  EOG Resources, Inc. | 68800 | 7713856 |
|  EQT Corp. | 71997 | 3918797 |
|  Excelerate Energy, Inc., Class A | 4700 | 118393 |
|  Expand Energy Corp. | 27545 | 2926381 |
|  Exxon Mobil Corp.# | 534912 | 60311328 |
|  Gulfport Energy Corp.\* | 1900 | 343862 |
|  HF Sinclair Corp. | 23686 | 1239725 |
|  HighPeak Energy, Inc.(x) | 400 | 2828 |
|  Kinder Morgan, Inc. | 254071 | 7192750 |
|  Kinetik Holdings, Inc., Class A(x) | 7100 | 303454 |
|  Kosmos Energy Ltd.\* | 28800 | 47808 |
|  Marathon Petroleum Corp. | 39133 | 7542494 |
|  Matador Resources Co. | 18200 | 817726 |
|  Northern Oil & Gas, Inc.(x) | 23700 | 587760 |
|  Occidental Petroleum Corp. | 87535 | 4136029 |
|  ONEOK, Inc. | 77013 | 5619638 |
|  Ovintiv, Inc. | 31500 | 1271970 |
|  PBF Energy, Inc., Class A | 14700 | 443499 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/COMMON STOCK INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Permian Resources Corp. | 86200 | $1103360 |
|  Phillips 66 | 53488 | 7275438 |
|  Range Resources Corp. | 38900 | 1464196 |
|  Scorpio Tankers, Inc. | 6900 | 386745 |
|  SM Energy Co. | 23900 | 596783 |
|  Targa Resources Corp. | 27800 | 4657612 |
|  Texas Pacific Land Corp. | 2500 | 2334100 |
|  Uranium Energy Corp.\* | 87200 | 1163248 |
|  Valero Energy Corp. | 39130 | 6662274 |
|  Viper Energy, Inc., Class A | 16500 | 630630 |
|  Williams Cos., Inc. (The) | 152779 | 9678550 |
|  World Kinect Corp. | 10700 | 277665 |
|  |  | 218730417 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 241396413 |
|  **Financials (14.0%)** |  |  |
|  ***Banks (3.9%)*** |  |  |
|  Ameris Bancorp | 6900 | 505839 |
|  Associated Banc-Corp. | 8200 | 210822 |
|  Atlantic Union Bankshares Corp. | 12100 | 427009 |
|  Axos Financial, Inc.\* | 3800 | 321670 |
|  Banc of California, Inc. | 26300 | 435265 |
|  BancFirst Corp. | 3600 | 455220 |
|  Bancorp, Inc. (The)\* | 7100 | 531719 |
|  Bank of America Corp. | 855946 | 44158254 |
|  Bank of Hawaii Corp. | 7100 | 466044 |
|  Bank of NT Butterfield & Son Ltd. (The) | 900 | 38628 |
|  Bank OZK | 17300 | 881954 |
|  BankUnited, Inc. | 13600 | 518976 |
|  Banner Corp. | 1100 | 72050 |
|  Beacon Financial Corp. | 2610 | 61883 |
|  BOK Financial Corp. | 4050 | 451332 |
|  Cadence Bank | 29750 | 1116815 |
|  Cathay General Bancorp | 8930 | 428729 |
|  Citigroup, Inc. | 232384 | 23586976 |
|  Citizens Financial Group, Inc. | 62178 | 3305382 |
|  City Holding Co. | 1430 | 177134 |
|  Columbia Banking System, Inc. | 42310 | 1089059 |
|  Columbia Financial, Inc.\* | 6000 | 90060 |
|  Comerica, Inc. | 23900 | 1637628 |
|  Commerce Bancshares, Inc. | 19396 | 1159105 |
|  Community Financial System, Inc. | 7000 | 410480 |
|  Cullen/Frost Bankers, Inc. | 7800 | 988806 |
|  CVB Financial Corp. | 20700 | 391437 |
|  Dime Community Bancshares, Inc. | 297 | 8860 |
|  East West Bancorp, Inc. | 18200 | 1937390 |
|  Eastern Bankshares, Inc. | 32000 | 580800 |
|  Enterprise Financial Services Corp. | 100 | 5798 |
|  FB Financial Corp. | 2500 | 139350 |
|  Fifth Third Bancorp | 94245 | 4198615 |
|  First Bancorp | 24700 | 544635 |
|  First Busey Corp. | 1833 | 42434 |
|  First Citizens BancShares, Inc., Class A | 1272 | 2275812 |
|  First Commonwealth Financial Corp. | 3500 | 59675 |
|  First Financial Bancorp | 12300 | 310575 |
|  First Financial Bankshares, Inc. | 12300 | 413895 |
|  First Financial Corp. | 5300 | 299132 |
|  First Hawaiian, Inc. | 9300 | 230919 |
|  First Horizon Corp. | 63050 | 1425560 |
|  First Interstate BancSystem, Inc., Class A | 16896 | 538476 |
|  First Merchants Corp. | 7800 | 294060 |
|  FNB Corp. | 46456 | 748406 |
|  Fulton Financial Corp. | 12600 | 234738 |
|  Glacier Bancorp, Inc.(x) | 20100 | 978267 |
|  Hancock Whitney Corp. | 8124 | 508644 |
|  Hilltop Holdings, Inc. | 8700 | 290754 |
|  Home BancShares, Inc. | 27800 | 786740 |
|  Hope Bancorp, Inc. | 3383 | 36435 |
|  Huntington Bancshares, Inc. | 196424 | 3392242 |
|  Independent Bank Corp. | 5000 | 345850 |
|  International Bancshares Corp. | 6800 | 467500 |
|  JPMorgan Chase & Co. | 342825 | 108137290 |
|  Kearny Financial Corp. | 9432 | 61968 |
|  KeyCorp | 115802 | 2164339 |
|  Live Oak Bancshares, Inc. | 3400 | 119748 |
|  M&T Bank Corp. | 20412 | 4033819 |
|  Mechanics Bancorp\* | 900 | 11979 |
|  NBT Bancorp, Inc. | 2600 | 108576 |
|  NU Holdings Ltd., Class A\* | 394100 | 6309541 |
|  OceanFirst Financial Corp. | 3200 | 56224 |
|  Old National Bancorp | 46300 | 1016285 |
|  Park National Corp. | 1500 | 243795 |
|  Pinnacle Financial Partners, Inc. | 10056 | 943152 |
|  PNC Financial Services Group, Inc. (The) | 49618 | 9969745 |
|  Popular, Inc. | 8750 | 1111338 |
|  Prosperity Bancshares, Inc. | 13412 | 889886 |
|  Provident Financial Services, Inc. | 5800 | 111824 |
|  Regions Financial Corp. | 121200 | 3196044 |
|  Renasant Corp. | 300 | 11067 |
|  S&T Bancorp, Inc. | 4200 | 157878 |
|  ServisFirst Bancshares, Inc. | 6300 | 507339 |
|  Simmons First National Corp., Class A | 14600 | 279882 |
|  SOUTHSTATE BANK Corp. | 14557 | 1439251 |
|  Synovus Financial Corp. | 23113 | 1134386 |
|  TFS Financial Corp.(x) | 26400 | 347820 |
|  Tompkins Financial Corp. | 2639 | 174728 |
|  Towne Bank | 8879 | 306947 |
|  Truist Financial Corp. | 164360 | 7514539 |
|  Trustmark Corp. | 850 | 33660 |
|  UMB Financial Corp. | 6715 | 794720 |
|  United Bankshares, Inc. | 20400 | 759084 |
|  United Community Banks, Inc. | 14900 | 467115 |
|  US Bancorp | 197590 | 9549525 |
|  Valley National Bancorp | 46100 | 488660 |
|  WaFd, Inc. | 9500 | 287755 |
|  Webster Financial Corp. | 22688 | 1348575 |
|  Wells Fargo & Co. | 408873 | 34271735 |
|  WesBanco, Inc. | 4600 | 146878 |
|  Western Alliance Bancorp | 14200 | 1231424 |
|  Wintrust Financial Corp. | 11500 | 1523060 |
|  WSFS Financial Corp. | 8990 | 484831 |
|  Zions Bancorp NA | 28300 | 1601214 |
|  |  | 308361464 |
|  ***Capital Markets (3.5%)*** |  |  |
|  Acadian Asset Management, Inc. | 600 | 28896 |
|  Affiliated Managers Group, Inc. | 4640 | 1106315 |
|  Ameriprise Financial, Inc. | 12360 | 6071850 |
|  Ares Management Corp., Class A | 24481 | 3914267 |
|  Artisan Partners Asset Management, Inc., Class A(x) | 10105 | 438557 |
|  Bank of New York Mellon Corp. (The) | 91050 | 9920808 |
|  BGC Group, Inc., Class A | 24600 | 232716 |
|  BlackRock, Inc. | 19163 | 22341567 |
|  Blackstone, Inc. | 90300 | 15427755 |
|  Blue Owl Capital, Inc., Class A | 62400 | 1056432 |
|  Brookfield Asset Management Ltd., Class A(x) | 48000 | 2733120 |
|  Carlyle Group, Inc. (The) | 32000 | 2006400 |
|  Cboe Global Markets, Inc. | 14300 | 3507075 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/COMMON STOCK INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Charles Schwab Corp. (The) | 214575 | $20485475 |
|  CME Group, Inc. | 44665 | 12068036 |
|  Cohen & Steers, Inc. | 5200 | 341172 |
|  Coinbase Global, Inc., Class A\* | 27100 | 9145979 |
|  DigitalBridge Group, Inc. | 18075 | 211477 |
|  Evercore, Inc., Class A | 4800 | 1619136 |
|  FactSet Research Systems, Inc. | 4900 | 1403801 |
|  Franklin Resources, Inc. | 54890 | 1269606 |
|  Freedom Holding Corp.(x)\* | 1500 | 258195 |
|  Goldman Sachs Group, Inc. (The) | 37900 | 30181665 |
|  Hamilton Lane, Inc., Class A | 5100 | 687429 |
|  Houlihan Lokey, Inc., Class A | 6600 | 1355112 |
|  Interactive Brokers Group, Inc., Class A | 56160 | 3864370 |
|  Intercontinental Exchange, Inc. | 71616 | 12065864 |
|  Invesco Ltd. | 66200 | 1518628 |
|  Janus Henderson Group plc | 16100 | 716611 |
|  Jefferies Financial Group, Inc. | 24488 | 1602005 |
|  KKR & Co., Inc. | 85391 | 11096560 |
|  Lazard, Inc. | 12500 | 659750 |
|  LPL Financial Holdings, Inc. | 10600 | 3526514 |
|  Marex Group plc | 9900 | 332838 |
|  MarketAxess Holdings, Inc. | 5660 | 986255 |
|  Moelis & Co., Class A | 8800 | 627616 |
|  Moody's Corp. | 19550 | 9315184 |
|  Morgan Stanley | 143087 | 22745110 |
|  Morningstar, Inc. | 3200 | 742432 |
|  MSCI, Inc. | 10134 | 5750133 |
|  Nasdaq, Inc. | 52300 | 4625935 |
|  Northern Trust Corp. | 26650 | 3587090 |
|  Piper Sandler Cos. | 1800 | 624582 |
|  Raymond James Financial, Inc. | 25100 | 4332260 |
|  Robinhood Markets, Inc., Class A\* | 92800 | 13287104 |
|  S&P Global, Inc. | 38534 | 18754883 |
|  SEI Investments Co. | 16150 | 1370328 |
|  State Street Corp. | 36150 | 4193761 |
|  StepStone Group, Inc., Class A | 4400 | 287364 |
|  Stifel Financial Corp. | 15508 | 1759693 |
|  StoneX Group, Inc.(x)\* | 2550 | 257346 |
| T. Rowe Price Group, Inc. | 31280 | 3210579 |
|  TPG, Inc., Class A | 16200 | 930690 |
|  Tradeweb Markets, Inc., Class A | 15000 | 1664700 |
|  Victory Capital Holdings, Inc., Class A | 5500 | 356180 |
|  Virtu Financial, Inc., Class A | 6900 | 244950 |
|  XP, Inc., Class A | 49000 | 920710 |
|  |  | 283770866 |
|  ***Consumer Finance (0.7%)*** |  |  |
|  Ally Financial, Inc. | 37869 | 1484465 |
|  American Express Co. | 68856 | 22871209 |
|  Bread Financial Holdings, Inc. | 8100 | 451737 |
|  Capital One Financial Corp. | 78878 | 16767885 |
|  Credit Acceptance Corp.\* | 500 | 233465 |
|  Enova International, Inc.\* | 2300 | 264707 |
|  FirstCash Holdings, Inc. | 4572 | 724296 |
|  Navient Corp. | 25584 | 336430 |
|  Nelnet, Inc., Class A | 4000 | 501520 |
|  OneMain Holdings, Inc. | 17900 | 1010634 |
|  SLM Corp. | 32084 | 888085 |
|  SoFi Technologies, Inc.\* | 139800 | 3693516 |
|  Synchrony Financial | 46952 | 3335940 |
|  Upstart Holdings, Inc.(x)\* | 10100 | 513080 |
|  |  | 53076969 |
|  ***Financial Services (3.8%)*** |  |  |
|  Affirm Holdings, Inc., Class A\* | 34000 | 2484720 |
|  Apollo Global Management, Inc. | 51686 | 6888193 |
|  Berkshire Hathaway, Inc., Class B\* | 227636 | 114441723 |
|  Block, Inc., Class A\* | 73324 | 5299125 |
|  Burford Capital Ltd.(x) | 17600 | 210496 |
|  Corebridge Financial, Inc. | 37700 | 1208285 |
|  Corpay, Inc.\* | 8800 | 2534928 |
|  Enact Holdings, Inc. | 10900 | 417906 |
|  Essent Group Ltd. | 17600 | 1118656 |
|  Euronet Worldwide, Inc.(x)\* | 4700 | 412707 |
|  Evertec, Inc. | 2500 | 84450 |
|  Fidelity National Information Services, Inc. | 66069 | 4356590 |
|  Fiserv, Inc.\* | 69202 | 8922214 |
|  Flywire Corp.\* | 14600 | 197684 |
|  Global Payments, Inc. | 32476 | 2698106 |
|  Jack Henry & Associates, Inc. | 11430 | 1702270 |
|  Jackson Financial, Inc., Class A | 11800 | 1194514 |
|  Marqeta, Inc., Class A\* | 66800 | 352704 |
|  Mastercard, Inc., Class A | 100400 | 57108524 |
|  MGIC Investment Corp. | 42500 | 1205725 |
|  Mr Cooper Group, Inc. | 10400 | 2192216 |
|  NCR Atleos Corp.\* | 3300 | 129723 |
|  NMI Holdings, Inc., Class A\* | 4700 | 180198 |
|  Payoneer Global, Inc.\* | 56500 | 341825 |
|  PayPal Holdings, Inc.\* | 127053 | 8520174 |
|  PennyMac Financial Services, Inc. | 3833 | 474832 |
|  Radian Group, Inc. | 15800 | 572276 |
|  Remitly Global, Inc.\* | 22900 | 373270 |
|  Sezzle, Inc.\* | 3800 | 302214 |
|  Shift4 Payments, Inc., Class A(x)\* | 7800 | 603720 |
|  Toast, Inc., Class A\* | 52200 | 1905822 |
|  Visa, Inc., Class A | 210212 | 71762173 |
|  Voya Financial, Inc. | 14900 | 1114520 |
|  Walker & Dunlop, Inc. | 3700 | 309394 |
|  WEX, Inc.\* | 7600 | 1197228 |
|  |  | 302819105 |
|  ***Insurance (2.0%)*** |  |  |
|  Aflac, Inc. | 61100 | 6824870 |
|  Allstate Corp. (The) | 33740 | 7242291 |
|  American Financial Group, Inc. | 12030 | 1753012 |
|  American International Group, Inc. | 72436 | 5689123 |
|  Aon plc, Class A | 26319 | 9384829 |
|  Arch Capital Group Ltd. | 48300 | 4382259 |
|  Arthur J Gallagher & Co. | 32300 | 10004602 |
|  Assurant, Inc. | 6200 | 1342920 |
|  Assured Guaranty Ltd. | 4800 | 406320 |
|  Axis Capital Holdings Ltd. | 10270 | 983866 |
|  Baldwin Insurance Group, Inc. (The), Class A(x)\* | 11200 | 315952 |
|  Brighthouse Financial, Inc.\* | 1932 | 102551 |
|  Brown & Brown, Inc. | 32900 | 3085691 |
|  Chubb Ltd. | 46651 | 13167245 |
|  Cincinnati Financial Corp. | 20320 | 3212592 |
|  CNA Financial Corp. | 6900 | 320574 |
|  CNO Financial Group, Inc. | 7400 | 292670 |
|  Employers Holdings, Inc. | 600 | 25488 |
|  Everest Group Ltd. | 6100 | 2136403 |
|  F&G Annuities & Life, Inc. | 9536 | 298191 |
|  Fidelity National Financial, Inc. | 33580 | 2031254 |
|  First American Financial Corp. | 17600 | 1130624 |
|  Genworth Financial, Inc., Class A\* | 19600 | 174440 |
|  Globe Life, Inc. | 10605 | 1516197 |
|  Goosehead Insurance, Inc., Class A | 600 | 44652 |
|  Hanover Insurance Group, Inc. (The) | 6190 | 1124290 |
|  Hartford Insurance Group, Inc. (The) | 36910 | 4923425 |
|  Kemper Corp. | 1782 | 91862 |
|  Kinsale Capital Group, Inc. | 3800 | 1615988 |
|  Lincoln National Corp. | 30350 | 1224015 |
|  Loews Corp. | 25392 | 2549103 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/COMMON STOCK INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Markel Group, Inc.\* | 1760 | $3363994 |
|  Marsh & McLennan Cos., Inc. | 62450 | 12585548 |
|  MBIA, Inc.\* | 3100 | 23095 |
|  Mercury General Corp. | 5000 | 423900 |
|  MetLife, Inc. | 70560 | 5812027 |
|  Old Republic International Corp. | 30794 | 1307821 |
|  Oscar Health, Inc., Class A(x)\* | 32200 | 609546 |
|  Palomar Holdings, Inc.\* | 1700 | 198475 |
|  Primerica, Inc. | 5900 | 1637781 |
|  Principal Financial Group, Inc. | 30800 | 2553628 |
|  ProAssurance Corp.\* | 600 | 14394 |
|  Progressive Corp. (The) | 74100 | 18298995 |
|  Prudential Financial, Inc. | 48931 | 5076102 |
|  Reinsurance Group of America, Inc. | 9310 | 1788730 |
|  RenaissanceRe Holdings Ltd. | 6560 | 1665781 |
|  RLI Corp. | 10560 | 688723 |
|  Ryan Specialty Holdings, Inc., Class A | 12600 | 710136 |
|  Selective Insurance Group, Inc. | 1800 | 145926 |
|  Travelers Cos., Inc. (The) | 28170 | 7865627 |
|  Trupanion, Inc.\* | 1000 | 43280 |
|  Unum Group | 23800 | 1851164 |
|  W.R. Berkley Corp. | 39300 | 3011166 |
|  White Mountains Insurance Group Ltd. | 300 | 501456 |
|  Willis Towers Watson plc | 13100 | 4525395 |
|  |  | 162099989 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.1%)*** |  |  |
|  AGNC Investment Corp. (REIT)(x) | 103900 | 1017181 |
|  Annaly Capital Management, Inc. (REIT) | 69288 | 1400310 |
|  Apollo Commercial Real Estate Finance, Inc. (REIT) | 2900 | 29377 |
|  Arbor Realty Trust, Inc. (REIT)(x) | 34900 | 426129 |
|  Blackstone Mortgage Trust, Inc. (REIT), Class A(x) | 6800 | 125188 |
|  Claros Mortgage Trust, Inc. (REIT)\* | 2700 | 8964 |
|  Rithm Capital Corp. (REIT) | 66550 | 758005 |
|  Starwood Property Trust, Inc. (REIT) | 57200 | 1107964 |
|  |  | 4873118 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 1115001511 |
|  **Health Care (9.2%)** |  |  |
|  ***Biotechnology (1.9%)*** |  |  |
|  AbbVie, Inc. | 220530 | 51061516 |
|  ACADIA Pharmaceuticals, Inc.\* | 17100 | 364914 |
|  ADMA Biologics, Inc.\* | 29900 | 438334 |
|  Agios Pharmaceuticals, Inc.\* | 2300 | 92322 |
|  Akero Therapeutics, Inc.\* | 6600 | 313368 |
|  Alector, Inc.\* | 1800 | 5328 |
|  Alkermes plc\* | 20700 | 621000 |
|  Allogene Therapeutics, Inc.\* | 24600 | 30504 |
|  Alnylam Pharmaceuticals, Inc.\* | 15400 | 7022400 |
|  Amgen, Inc. | 66968 | 18898370 |
|  Amicus Therapeutics, Inc.\* | 51600 | 406608 |
|  AnaptysBio, Inc.\* | 6600 | 202092 |
|  Anavex Life Sciences Corp.(x)\* | 23900 | 212710 |
|  Apellis Pharmaceuticals, Inc.\* | 14000 | 316820 |
|  Arcellx, Inc.\* | 4900 | 402290 |
|  Arcturus Therapeutics Holdings, Inc.\* | 400 | 7372 |
|  Arcus Biosciences, Inc.\* | 6200 | 84320 |
|  Arrowhead Pharmaceuticals, Inc.\* | 22200 | 765678 |
|  Avidity Biosciences, Inc.\* | 14500 | 631765 |
|  Beam Therapeutics, Inc.(x)\* | 7300 | 177171 |
|  BioCryst Pharmaceuticals, Inc.\* | 35300 | 267927 |
|  Biogen, Inc.\* | 20560 | 2880045 |
|  Biohaven Ltd.\* | 9700 | 145597 |
|  BioMarin Pharmaceutical, Inc.\* | 28200 | 1527312 |
|  Bridgebio Pharma, Inc.\* | 13444 | 698281 |
|  Cytokinetics, Inc.\* | 12600 | 692496 |
|  Denali Therapeutics, Inc.\* | 14300 | 207636 |
|  Dyne Therapeutics, Inc.\* | 10800 | 136620 |
|  Editas Medicine, Inc.\* | 11500 | 39905 |
|  Exact Sciences Corp.\* | 26700 | 1460757 |
|  Exelixis, Inc.\* | 38900 | 1606570 |
|  Fate Therapeutics, Inc.\* | 12600 | 15876 |
|  Gilead Sciences, Inc. | 155091 | 17215101 |
|  GRAIL, Inc.(x)\* | 4016 | 237466 |
|  Halozyme Therapeutics, Inc.\* | 17900 | 1312786 |
|  Ideaya Biosciences, Inc.\* | 13500 | 367335 |
|  ImmunityBio, Inc.(x)\* | 71300 | 175398 |
|  Immunovant, Inc.\* | 15700 | 253084 |
|  Incyte Corp.\* | 19700 | 1670757 |
|  Insmed, Inc.\* | 21200 | 3053012 |
|  Ionis Pharmaceuticals, Inc.\* | 24800 | 1622416 |
|  Ironwood Pharmaceuticals, Inc., Class A\* | 4000 | 5240 |
|  Kodiak Sciences, Inc.\* | 3500 | 57295 |
|  Krystal Biotech, Inc.\* | 3200 | 564896 |
|  Kura Oncology, Inc.\* | 12500 | 110625 |
|  Madrigal Pharmaceuticals, Inc.\* | 2400 | 1100784 |
|  Moderna, Inc.\* | 44417 | 1147291 |
|  Myriad Genetics, Inc.\* | 11500 | 83145 |
|  Natera, Inc.\* | 16300 | 2623811 |
|  Neurocrine Biosciences, Inc.\* | 14500 | 2035510 |
|  Nkarta, Inc.\* | 800 | 1656 |
|  Novavax, Inc.(x)\* | 12200 | 105774 |
|  Nuvalent, Inc., Class A\* | 4800 | 415104 |
|  Organogenesis Holdings, Inc., Class A\* | 25100 | 105922 |
|  PDL BioPharma, Inc.(r)\* | 46000 |  |
|  Prothena Corp. plc\* | 3300 | 32208 |
|  PTC Therapeutics, Inc.\* | 8000 | 490960 |
|  Recursion Pharmaceuticals, Inc., Class A(x)\* | 1000 | 4880 |
|  Regeneron Pharmaceuticals, Inc. | 13000 | 7309510 |
|  REGENXBIO, Inc.\* | 7400 | 71410 |
|  Relay Therapeutics, Inc.\* | 22001 | 114845 |
|  Replimune Group, Inc.\* | 1100 | 4609 |
|  Revolution Medicines, Inc.\* | 20724 | 967811 |
|  Rhythm Pharmaceuticals, Inc.\* | 7100 | 717029 |
|  Rocket Pharmaceuticals, Inc.\* | 8900 | 29014 |
|  Roivant Sciences Ltd.\* | 31600 | 478108 |
|  Sana Biotechnology, Inc.(x)\* | 14595 | 51812 |
|  Sarepta Therapeutics, Inc.\* | 12700 | 244729 |
|  Stoke Therapeutics, Inc.\* | 500 | 11750 |
|  TG Therapeutics, Inc.(x)\* | 18300 | 661088 |
|  Twist Bioscience Corp.\* | 6900 | 194166 |
|  Ultragenyx Pharmaceutical, Inc.\* | 10000 | 300800 |
|  United Therapeutics Corp.\* | 7100 | 2976391 |
|  Vaxcyte, Inc.\* | 14700 | 529494 |
|  Veracyte, Inc.\* | 7700 | 264341 |
|  Vericel Corp.\* | 3600 | 113292 |
|  Vertex Pharmaceuticals, Inc.\* | 33000 | 12924120 |
|  Vir Biotechnology, Inc.(x)\* | 10700 | 61097 |
|  Xencor, Inc.\* | 8900 | 104397 |
|  |  | 154656173 |
|  ***Health Care Equipment & Supplies (2.0%)*** |  |  |
|  Abbott Laboratories | 215612 | 28879071 |
|  Align Technology, Inc.\* | 11300 | 1414986 |
|  AtriCure, Inc.\* | 1800 | 63450 |
|  Avanos Medical, Inc.\* | 7975 | 92191 |
|  Baxter International, Inc. | 80080 | 1823422 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/COMMON STOCK INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Becton Dickinson & Co. | 35613 | $6665685 |
|  Boston Scientific Corp.\* | 186200 | 18178706 |
|  CONMED Corp. | 4500 | 211635 |
|  Cooper Cos., Inc. (The)\* | 27600 | 1892256 |
|  Dexcom, Inc.\* | 55200 | 3714408 |
|  Edwards Lifesciences Corp.\* | 74700 | 5809419 |
|  Embecta Corp. | 2602 | 36714 |
|  Enovis Corp.(x)\* | 4333 | 131463 |
|  Envista Holdings Corp.\* | 21763 | 443312 |
|  GE HealthCare Technologies, Inc. | 60015 | 4507127 |
|  Glaukos Corp.\* | 6800 | 554540 |
|  Globus Medical, Inc., Class A\* | 19837 | 1136065 |
|  Haemonetics Corp.\* | 600 | 29244 |
|  Hologic, Inc.\* | 30600 | 2065194 |
|  ICU Medical, Inc.\* | 1700 | 203932 |
|  IDEXX Laboratories, Inc.\* | 10000 | 6388900 |
|  Inogen, Inc.\* | 3600 | 29412 |
|  Insulet Corp.\* | 9100 | 2809443 |
|  Integer Holdings Corp.\* | 3500 | 361655 |
|  Integra LifeSciences Holdings Corp.\* | 6500 | 93145 |
|  Intuitive Surgical, Inc.\* | 44100 | 19722843 |
|  iRhythm Technologies, Inc.\* | 4000 | 687960 |
|  Lantheus Holdings, Inc.\* | 8700 | 446223 |
|  LivaNova plc\* | 5100 | 267138 |
|  Masimo Corp.(x)\* | 5700 | 841035 |
|  Medtronic plc | 158285 | 15075063 |
|  Merit Medical Systems, Inc.\* | 7800 | 649194 |
|  Neogen Corp.\* | 32700 | 186717 |
|  Novocure Ltd.\* | 17900 | 231268 |
|  Omnicell, Inc.\* | 7900 | 240555 |
|  Penumbra, Inc.\* | 6300 | 1595916 |
|  PROCEPT BioRobotics Corp.\* | 5700 | 203433 |
|  QuidelOrtho Corp.\* | 7797 | 229622 |
|  ResMed, Inc. | 19100 | 5228243 |
|  Solventum Corp.\* | 19607 | 1431311 |
|  STAAR Surgical Co.\* | 3500 | 94045 |
|  STERIS plc | 12709 | 3144715 |
|  Stryker Corp. | 43170 | 15958654 |
|  Teleflex, Inc. | 7700 | 942172 |
|  TransMedics Group, Inc.(x)\* | 4400 | 493680 |
|  Varex Imaging Corp.\* | 2624 | 32538 |
|  Zimmer Biomet Holdings, Inc. | 26000 | 2561000 |
|  Zimvie, Inc.(x)\* | 1480 | 28031 |
|  |  | 157826731 |
|  ***Health Care Providers & Services (1.7%)*** |  |  |
|  AdaptHealth Corp., Class A\* | 16900 | 151255 |
|  Addus HomeCare Corp.\* | 200 | 23598 |
|  AMN Healthcare Services, Inc.\* | 200 | 3872 |
|  Astrana Health, Inc.(x)\* | 7300 | 206955 |
|  Aveanna Healthcare Holdings, Inc.\* | 7400 | 65638 |
|  BrightSpring Health Services, Inc.\* | 26000 | 768560 |
|  Brookdale Senior Living, Inc.\* | 36435 | 308604 |
|  Cardinal Health, Inc. | 32900 | 5163984 |
|  Castle Biosciences, Inc.\* | 200 | 4554 |
|  Cencora, Inc. | 23400 | 7313202 |
|  Centene Corp.\* | 64400 | 2297792 |
|  Chemed Corp. | 2100 | 940254 |
|  Cigna Group (The) | 33576 | 9678282 |
|  Concentra Group Holdings Parent, Inc. | 10974 | 229686 |
|  CorVel Corp.\* | 3900 | 301938 |
|  CVS Health Corp. | 154634 | 11657857 |
|  DaVita, Inc.\* | 8300 | 1102821 |
|  Elevance Health, Inc. | 28380 | 9170146 |
|  Encompass Health Corp. | 12700 | 1613154 |
|  Enhabit, Inc.\* | 9250 | 74093 |
|  Ensign Group, Inc. (The) | 5800 | 1002066 |
|  Fulgent Genetics, Inc.\* | 300 | 6780 |
|  Guardant Health, Inc.\* | 14800 | 924704 |
|  HCA Healthcare, Inc. | 21900 | 9333780 |
|  HealthEquity, Inc.\* | 13100 | 1241487 |
|  Henry Schein, Inc.\* | 19200 | 1274304 |
|  Hims & Hers Health, Inc.(x)\* | 26800 | 1520096 |
|  Humana, Inc. | 16600 | 4318822 |
|  Innovage Holding Corp.\* | 1200 | 6192 |
|  Labcorp Holdings, Inc. | 11435 | 3282531 |
|  LifeStance Health Group, Inc.\* | 27100 | 149050 |
|  McKesson Corp. | 16180 | 12499697 |
|  Molina Healthcare, Inc.\* | 7200 | 1377792 |
|  National Research Corp. | 100 | 1278 |
|  NeoGenomics, Inc.\* | 17900 | 138188 |
|  OPKO Health, Inc.\* | 104600 | 162130 |
|  Option Care Health, Inc.\* | 5425 | 150598 |
|  PACS Group, Inc.\* | 9400 | 129062 |
|  Pediatrix Medical Group, Inc.\* | 10340 | 173195 |
|  Pennant Group, Inc. (The)\* | 2100 | 52962 |
|  Premier, Inc., Class A | 3600 | 100080 |
|  Privia Health Group, Inc.\* | 14200 | 353580 |
|  Progyny, Inc.\* | 8900 | 191528 |
|  Quest Diagnostics, Inc. | 16230 | 3093113 |
|  RadNet, Inc.\* | 8000 | 609680 |
|  Select Medical Holdings Corp. | 13600 | 174624 |
|  Surgery Partners, Inc.\* | 798 | 17269 |
|  Tenet Healthcare Corp.\* | 14000 | 2842560 |
|  UnitedHealth Group, Inc. | 114157 | 39418412 |
|  Universal Health Services, Inc., Class B | 7980 | 1631431 |
|  |  | 137253236 |
|  ***Health Care Technology (0.1%)*** |  |  |
|  Certara, Inc.\* | 16330 | 199552 |
|  Definitive Healthcare Corp., Class A\* | 12000 | 48720 |
|  Doximity, Inc., Class A\* | 13800 | 1009470 |
|  Evolent Health, Inc., Class A\* | 7400 | 62604 |
|  Phreesia, Inc.\* | 6100 | 143472 |
|  Schrodinger, Inc.\* | 14100 | 282846 |
|  Teladoc Health, Inc.(x)\* | 24260 | 187530 |
|  Veeva Systems, Inc., Class A\* | 19700 | 5868827 |
|  Waystar Holding Corp.\* | 15000 | 568800 |
|  |  | 8371821 |
|  ***Life Sciences Tools & Services (0.9%)*** |  |  |
|  10X Genomics, Inc., Class A\* | 13900 | 162491 |
|  Agilent Technologies, Inc. | 37430 | 4804140 |
|  Avantor, Inc.\* | 96094 | 1199253 |
|  Azenta, Inc.\* | 7987 | 229387 |
|  Bio-Rad Laboratories, Inc., Class A\* | 2400 | 672936 |
|  Bio-Techne Corp. | 25800 | 1435254 |
|  Bruker Corp. | 14400 | 467856 |
|  Charles River Laboratories International, Inc.\* | 9050 | 1415963 |
|  Codexis, Inc.\* | 600 | 1464 |
|  CryoPort, Inc.\* | 3300 | 31284 |
|  Danaher Corp. | 80060 | 15872696 |
|  Fortrea Holdings, Inc.\* | 235 | 1979 |
|  Illumina, Inc.\* | 24100 | 2288777 |
|  IQVIA Holdings, Inc.\* | 23380 | 4440797 |
|  Maravai LifeSciences Holdings, Inc., Class A(x)\* | 11581 | 33237 |
|  Medpace Holdings, Inc.\* | 2800 | 1439648 |
|  Mettler-Toledo International, Inc.\* | 2900 | 3560069 |
|  OmniAb, Inc.\* | 11270 | 18032 |
|  Pacific Biosciences of California, Inc.\* | 3200 | 4096 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/COMMON STOCK INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  QIAGEN NV(x) | 33885 | $1513982 |
|  Repligen Corp.\* | 9700 | 1296599 |
|  Revvity, Inc. | 18600 | 1630290 |
|  Sotera Health Co.\* | 33931 | 533735 |
|  Tempus AI, Inc., Class A(x)\* | 10300 | 831313 |
|  Thermo Fisher Scientific, Inc. | 47350 | 22965697 |
|  Waters Corp.\* | 7800 | 2338518 |
|  West Pharmaceutical Services, Inc. | 10800 | 2833164 |
|  |  | 72022657 |
|  ***Pharmaceuticals (2.6%)*** |  |  |
|  Amneal Pharmaceuticals, Inc.\* | 20200 | 202202 |
|  Amphastar Pharmaceuticals, Inc.\* | 5200 | 138580 |
|  Arvinas, Inc.\* | 5200 | 44304 |
|  Atea Pharmaceuticals, Inc.\* | 12500 | 36250 |
|  Axsome Therapeutics, Inc.\* | 4700 | 570815 |
|  Bristol-Myers Squibb Co. | 264444 | 11926424 |
|  Corcept Therapeutics, Inc.(x)\* | 11200 | 930832 |
|  Crinetics Pharmaceuticals, Inc.\* | 500 | 20825 |
|  Elanco Animal Health, Inc.(x)\* | 74632 | 1503088 |
|  Eli Lilly & Co. | 98888 | 75451544 |
|  Harmony Biosciences Holdings, Inc.\* | 9200 | 253552 |
|  Innoviva, Inc.\* | 6818 | 124429 |
|  Jazz Pharmaceuticals plc\* | 7800 | 1028040 |
|  Johnson & Johnson | 297088 | 55086057 |
|  Ligand Pharmaceuticals, Inc.\* | 2300 | 407422 |
|  Merck & Co., Inc. | 316090 | 26529434 |
|  Organon & Co. | 2300 | 24564 |
|  Pacira BioSciences, Inc.\* | 7400 | 190698 |
|  Perrigo Co. plc | 13700 | 305099 |
|  Pfizer, Inc. | 724017 | 18447953 |
|  Phibro Animal Health Corp., Class A | 1200 | 48552 |
|  Prestige Consumer Healthcare, Inc.\* | 5900 | 368160 |
|  Royalty Pharma plc, Class A | 54600 | 1926288 |
|  Theravance Biopharma, Inc.\* | 13700 | 200020 |
|  Viatris, Inc. | 184274 | 1824313 |
|  Zoetis, Inc. | 55100 | 8062232 |
|  |  | 205651677 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 735782295 |
|  **Industrials (9.5%)** |  |  |
|  ***Aerospace & Defense (2.3%)*** |  |  |
|  AAR Corp.\* | 1800 | 161406 |
|  AeroVironment, Inc.\* | 3600 | 1133604 |
|  ATI, Inc.\* | 19000 | 1545460 |
|  Axon Enterprise, Inc.\* | 9900 | 7104636 |
|  Boeing Co. (The)\* | 90900 | 19618947 |
|  BWX Technologies, Inc. | 12200 | 2249314 |
|  Curtiss-Wright Corp. | 4700 | 2551818 |
|  GE Aerospace | 131945 | 39691695 |
|  General Dynamics Corp. | 31670 | 10799470 |
|  HEICO Corp. | 6941 | 2240694 |
|  HEICO Corp., Class A | 11245 | 2857242 |
|  Hexcel Corp. | 10000 | 627000 |
|  Howmet Aerospace, Inc. | 52629 | 10327389 |
|  Huntington Ingalls Industries, Inc. | 6200 | 1785042 |
|  Kratos Defense & Security Solutions, Inc.\* | 18900 | 1726893 |
|  L3Harris Technologies, Inc. | 23391 | 7143845 |
|  Lockheed Martin Corp. | 26160 | 13059334 |
|  Moog, Inc., Class A | 3000 | 623010 |
|  Northrop Grumman Corp. | 17050 | 10388906 |
|  Rocket Lab Corp.(x)\* | 45900 | 2199069 |
|  RTX Corp. | 167867 | 28089185 |
|  StandardAero, Inc.\* | 400 | 10916 |
|  Textron, Inc. | 25900 | 2188291 |
|  TransDigm Group, Inc. | 6850 | 9028437 |
|  V2X, Inc.\* | 1600 | 92944 |
|  Woodward, Inc. | 7430 | 1877635 |
|  |  | 179122182 |
|  ***Air Freight & Logistics (0.2%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 14530 | 1923772 |
|  Expeditors International of Washington, Inc. | 19400 | 2378246 |
|  FedEx Corp. | 28450 | 6708795 |
|  GXO Logistics, Inc.\* | 14900 | 788061 |
|  United Parcel Service, Inc., Class B | 93650 | 7822584 |
|  |  | 19621458 |
|  ***Building Products (0.6%)*** |  |  |
|  A.O. Smith Corp. | 21900 | 1607679 |
|  AAON, Inc.(x) | 8700 | 812928 |
|  Advanced Drainage Systems, Inc. | 9900 | 1373130 |
|  Allegion plc | 10612 | 1882038 |
|  Apogee Enterprises, Inc. | 2100 | 91497 |
|  Armstrong World Industries, Inc. | 6500 | 1274065 |
|  Builders FirstSource, Inc.\* | 17490 | 2120663 |
|  Carlisle Cos., Inc. | 6100 | 2006656 |
|  Carrier Global Corp. | 101071 | 6033939 |
|  Fortune Brands Innovations, Inc. | 16450 | 878265 |
|  Gibraltar Industries, Inc.\* | 1900 | 119320 |
|  Johnson Controls International plc | 86971 | 9562461 |
|  Lennox International, Inc. | 4910 | 2599158 |
|  Masco Corp. | 32100 | 2259519 |
|  Masterbrand, Inc.\* | 11450 | 150796 |
|  Owens Corning | 14070 | 1990342 |
|  Resideo Technologies, Inc.\* | 18150 | 783717 |
|  Simpson Manufacturing Co., Inc. | 6100 | 1021506 |
|  Trane Technologies plc | 28012 | 11819944 |
|  Trex Co., Inc.\* | 20500 | 1059235 |
|  UFP Industries, Inc. | 11500 | 1075135 |
|  Zurn Elkay Water Solutions Corp. | 14900 | 700747 |
|  |  | 51222740 |
|  ***Commercial Services & Supplies (0.6%)*** |  |  |
|  ABM Industries, Inc. | 700 | 32284 |
|  Casella Waste Systems, Inc., Class A\* | 6200 | 588256 |
|  Cimpress plc\* | 1700 | 107168 |
|  Cintas Corp. | 44100 | 9051966 |
|  Clean Harbors, Inc.\* | 7100 | 1648762 |
|  Copart, Inc.\* | 111400 | 5009658 |
|  CoreCivic, Inc.\* | 4100 | 83435 |
|  Deluxe Corp.(x) | 1400 | 27104 |
|  Driven Brands Holdings, Inc.\* | 8331 | 134212 |
|  HNI Corp. | 2500 | 117125 |
|  MillerKnoll, Inc. | 5300 | 94022 |
|  MSA Safety, Inc. | 5900 | 1015213 |
|  OPENLANE, Inc.\* | 1700 | 48926 |
|  RB Global, Inc. | 26748 | 2898413 |
|  Republic Services, Inc. | 26335 | 6043356 |
|  Rollins, Inc. | 35450 | 2082333 |
|  Tetra Tech, Inc. | 46500 | 1552170 |
|  UniFirst Corp. | 500 | 83595 |
|  Veralto Corp. | 32486 | 3463332 |
|  Vestis Corp. | 16250 | 73613 |
|  Waste Management, Inc. | 46450 | 10257554 |
|  |  | 44412497 |
|  ***Construction & Engineering (0.3%)*** |  |  |
|  AECOM | 18202 | 2374815 |
|  Ameresco, Inc., Class A\* | 5000 | 167900 |
|  API Group Corp.\* | 44550 | 1531183 |
|  Arcosa, Inc. | 1180 | 110578 |
|  Comfort Systems USA, Inc. | 4300 | 3548274 |
|  Construction Partners, Inc., Class A\* | 5700 | 723900 |
|  Dycom Industries, Inc.\* | 3900 | 1137864 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/COMMON STOCK INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  EMCOR Group, Inc. | 5500 | $3572470 |
|  Fluor Corp.\* | 22300 | 938161 |
|  MasTec, Inc.\* | 8900 | 1894009 |
|  Primoris Services Corp. | 6700 | 920111 |
|  Quanta Services, Inc. | 19450 | 8060469 |
|  Sterling Infrastructure, Inc.\* | 3800 | 1290784 |
|  Valmont Industries, Inc. | 3100 | 1201963 |
|  |  | 27472481 |
|  ***Electrical Equipment (1.0%)*** |  |  |
|  Acuity, Inc. | 4100 | 1411999 |
|  AMETEK, Inc. | 30875 | 5804500 |
|  Bloom Energy Corp., Class A\* | 25200 | 2131164 |
|  Eaton Corp. plc | 49997 | 18711377 |
|  Emerson Electric Co. | 72410 | 9498744 |
|  EnerSys | 400 | 45184 |
|  GE Vernova, Inc. | 34511 | 21220814 |
|  Generac Holdings, Inc.\* | 7800 | 1305720 |
|  Hubbell, Inc., Class B | 7200 | 3098232 |
|  NEXTracker, Inc., Class A\* | 17700 | 1309623 |
|  nVent Electric plc | 26353 | 2599460 |
|  Regal Rexnord Corp. | 8522 | 1222396 |
|  Rockwell Automation, Inc. | 15600 | 5452668 |
|  Vertiv Holdings Co., Class A | 48500 | 7316710 |
|  |  | 81128591 |
|  ***Ground Transportation (0.9%)*** |  |  |
|  ArcBest Corp. | 500 | 34935 |
|  CSX Corp. | 244250 | 8673317 |
|  Heartland Express, Inc. | 9600 | 80448 |
|  Hertz Global Holdings, Inc.(x)\* | 3300 | 22440 |
|  JB Hunt Transport Services, Inc. | 12450 | 1670417 |
|  Knight-Swift Transportation Holdings, Inc., Class A | 30935 | 1222242 |
|  Lyft, Inc., Class A\* | 48300 | 1063083 |
|  Norfolk Southern Corp. | 29370 | 8823042 |
|  Old Dominion Freight Line, Inc. | 26750 | 3765865 |
|  RXO, Inc.\* | 5100 | 78438 |
|  Ryder System, Inc. | 5400 | 1018656 |
|  Saia, Inc.\* | 3800 | 1137568 |
|  Schneider National, Inc., Class B | 1195 | 25286 |
|  Uber Technologies, Inc.\* | 252589 | 24746144 |
|  U-Haul Holding Co. | 12600 | 641340 |
|  Union Pacific Corp. | 75020 | 17732477 |
|  XPO, Inc.\* | 17800 | 2301006 |
|  |  | 73036704 |
|  ***Industrial Conglomerates (0.4%)*** |  |  |
|  3M Co. | 69930 | 10851737 |
|  Brookfield Business Corp., Class A | 400 | 13412 |
|  Honeywell International, Inc. | 80800 | 17008400 |
|  |  | 27873549 |
|  ***Machinery (1.8%)*** |  |  |
|  AGCO Corp. | 12400 | 1327668 |
|  Albany International Corp., Class A | 1100 | 58630 |
|  Allison Transmission Holdings, Inc. | 10500 | 891240 |
|  Caterpillar, Inc. | 58110 | 27727186 |
|  Chart Industries, Inc.\* | 6500 | 1300975 |
|  CNH Industrial NV | 144100 | 1563485 |
|  Crane Co. | 7900 | 1454706 |
|  Cummins, Inc. | 18260 | 7712476 |
|  Deere & Co. | 30640 | 14010446 |
|  Donaldson Co., Inc. | 18700 | 1530595 |
|  Dover Corp. | 18190 | 3034638 |
|  Enerpac Tool Group Corp., Class A | 3000 | 123000 |
|  Esab Corp. | 6033 | 674127 |
|  ESCO Technologies, Inc. | 3300 | 696663 |
|  Federal Signal Corp. | 6400 | 761536 |
|  Flowserve Corp. | 26640 | 1415650 |
|  Fortive Corp. | 47530 | 2328495 |
|  Franklin Electric Co., Inc. | 700 | 66640 |
|  Gates Industrial Corp. plc\* | 30000 | 744600 |
|  Graco, Inc. | 22380 | 1901405 |
|  Hillenbrand, Inc. | 5900 | 159536 |
|  Hillman Solutions Corp.\* | 9200 | 84456 |
|  IDEX Corp. | 12240 | 1992182 |
|  Illinois Tool Works, Inc. | 37610 | 9807184 |
|  Ingersoll Rand, Inc. | 54866 | 4533029 |
|  ITT, Inc. | 12825 | 2292597 |
|  JBT Marel Corp. | 6100 | 856745 |
|  Lincoln Electric Holdings, Inc. | 6760 | 1594211 |
|  Middleby Corp. (The)\* | 9700 | 1289421 |
|  Mueller Industries, Inc. | 17000 | 1718870 |
|  Nordson Corp. | 8660 | 1965387 |
|  Oshkosh Corp. | 11600 | 1504520 |
|  Otis Worldwide Corp. | 54574 | 4989701 |
|  PACCAR, Inc. | 68145 | 6700016 |
|  Parker-Hannifin Corp. | 16210 | 12289611 |
|  Pentair plc | 21587 | 2390976 |
|  RBC Bearings, Inc.\* | 3900 | 1522131 |
|  Snap-on, Inc. | 7300 | 2529669 |
|  SPX Technologies, Inc.\* | 4900 | 915222 |
|  Standex International Corp. | 500 | 105950 |
|  Stanley Black & Decker, Inc. | 21835 | 1622996 |
|  Tennant Co. | 1100 | 89166 |
|  Terex Corp. | 1600 | 82080 |
|  Timken Co. (The) | 1600 | 120288 |
|  Toro Co. (The) | 15880 | 1210056 |
|  Trinity Industries, Inc. | 5140 | 144126 |
|  Watts Water Technologies, Inc., Class A | 4000 | 1117120 |
|  Westinghouse Air Brake Technologies Corp. | 21787 | 4367640 |
|  Worthington Enterprises, Inc. | 2100 | 116529 |
|  Xylem, Inc. | 30954 | 4565715 |
|  |  | 142001291 |
|  ***Marine Transportation (0.0%)†*** |  |  |
|  Costamare Bulkers Holdings Ltd.\* | 740 | 10634 |
|  Costamare, Inc. | 3700 | 44067 |
|  Kirby Corp.\* | 7450 | 621702 |
|  |  | 676403 |
|  ***Passenger Airlines (0.2%)*** |  |  |
|  Alaska Air Group, Inc.\* | 16500 | 821370 |
|  Allegiant Travel Co.\* | 2200 | 133694 |
|  American Airlines Group, Inc.\* | 105200 | 1182448 |
|  Delta Air Lines, Inc. | 89150 | 5059262 |
|  Joby Aviation, Inc.(x)\* | 69100 | 1115274 |
|  SkyWest, Inc.\* | 600 | 60372 |
|  Southwest Airlines Co. | 76800 | 2450688 |
|  United Airlines Holdings, Inc.\* | 43540 | 4201610 |
|  |  | 15024718 |
|  ***Professional Services (0.7%)*** |  |  |
|  Amentum Holdings, Inc.\* | 2919 | 69910 |
|  Automatic Data Processing, Inc. | 51150 | 15012525 |
|  Booz Allen Hamilton Holding Corp. | 16800 | 1679160 |
|  Broadridge Financial Solutions, Inc. | 15509 | 3693779 |
|  CACI International, Inc., Class A\* | 3800 | 1895364 |
|  CBIZ, Inc.\* | 1220 | 64611 |
|  Conduent, Inc.\* | 1586 | 4441 |
|  Dayforce, Inc.\* | 20100 | 1384689 |
|  Equifax, Inc. | 15820 | 4058305 |
|  ExlService Holdings, Inc.\* | 22500 | 990675 |
|  Exponent, Inc. | 900 | 62532 |
|  First Advantage Corp.(x)\* | 4000 | 61560 |
|  FTI Consulting, Inc.\* | 4800 | 775920 |
|  Genpact Ltd. | 30000 | 1256700 |
|  Huron Consulting Group, Inc.\* | 800 | 117416 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/COMMON STOCK INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Jacobs Solutions, Inc. | 18400 | $2757424 |
|  KBR, Inc. | 18700 | 884323 |
|  Korn Ferry | 1400 | 97972 |
|  Leidos Holdings, Inc. | 18348 | 3467038 |
|  ManpowerGroup, Inc. | 1480 | 56092 |
|  Paychex, Inc. | 42810 | 5426596 |
|  Paycom Software, Inc. | 6500 | 1352910 |
|  Paylocity Holding Corp.\* | 5700 | 907839 |
|  Resources Connection, Inc. | 13850 | 69942 |
|  Science Applications International Corp. | 9001 | 894429 |
|  SS&C Technologies Holdings, Inc. | 30200 | 2680552 |
|  TransUnion | 30305 | 2538953 |
|  Verisk Analytics, Inc. | 18800 | 4728388 |
|  |  | 56990045 |
|  ***Trading Companies & Distributors (0.5%)*** |  |  |
|  Air Lease Corp., Class A | 21000 | 1336650 |
|  Applied Industrial Technologies, Inc. | 4300 | 1122515 |
|  Core & Main, Inc., Class A\* | 23100 | 1243473 |
|  Distribution Solutions Group, Inc.\* | 600 | 18048 |
|  Fastenal Co. | 142700 | 6998008 |
|  Ferguson Enterprises, Inc. | 24300 | 5457294 |
|  FTAI Aviation Ltd. | 14400 | 2402784 |
|  GATX Corp. | 5000 | 874000 |
|  McGrath RentCorp | 1000 | 117300 |
|  MSC Industrial Direct Co., Inc., Class A | 1600 | 147424 |
|  QXO, Inc.\* | 74700 | 1423782 |
|  SiteOne Landscape Supply, Inc.\* | 6700 | 862960 |
|  United Rentals, Inc. | 8022 | 7658283 |
|  W.W. Grainger, Inc. | 5750 | 5479520 |
|  Watsco, Inc. | 5210 | 2106403 |
|  WESCO International, Inc. | 8586 | 1815939 |
|  |  | 39064383 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 757647042 |
|  **Information Technology (32.0%)** |  |  |
|  ***Communications Equipment (0.9%)*** |  |  |
|  Arista Networks, Inc.\* | 130600 | 19029726 |
|  Calix, Inc.\* | 1500 | 92055 |
|  Ciena Corp.\* | 21000 | 3059070 |
|  Cisco Systems, Inc. | 499370 | 34166895 |
|  F5, Inc.\* | 7800 | 2520882 |
|  Lumentum Holdings, Inc.\* | 8600 | 1399306 |
|  Motorola Solutions, Inc. | 20521 | 9384048 |
|  NetScout Systems, Inc.\* | 1300 | 33579 |
|  Ubiquiti, Inc. | 1217 | 803926 |
|  Viavi Solutions, Inc.\* | 9550 | 121190 |
|  |  | 70610677 |
|  ***Electronic Equipment, Instruments & Components (0.8%)*** |  |  |
|  Advanced Energy Industries, Inc. | 3600 | 612504 |
|  Aeva Technologies, Inc.\* | 2220 | 32190 |
|  Amphenol Corp., Class A | 149660 | 18520425 |
|  Arrow Electronics, Inc.\* | 9300 | 1125300 |
|  Avnet, Inc. | 2320 | 121290 |
|  Badger Meter, Inc. | 4400 | 785752 |
|  Belden, Inc. | 4900 | 589323 |
|  CDW Corp. | 19151 | 3050371 |
|  Cognex Corp. | 30400 | 1377120 |
|  Coherent Corp.\* | 21857 | 2354436 |
|  Corning, Inc. | 96290 | 7898669 |
|  Crane NXT Co.(x) | 5500 | 368885 |
|  Fabrinet\* | 5100 | 1859562 |
|  Flex Ltd.\* | 47800 | 2770966 |
|  Ingram Micro Holding Corp.(x) | 11300 | 242837 |
|  IPG Photonics Corp.(x)\* | 1100 | 87109 |
|  Itron, Inc.\* | 4010 | 499486 |
|  Jabil, Inc. | 13700 | 2975229 |
|  Keysight Technologies, Inc.\* | 23015 | 4025784 |
|  Littelfuse, Inc. | 3100 | 802931 |
|  MicroVision, Inc.(x)\* | 33100 | 41044 |
|  Plexus Corp.\* | 200 | 28938 |
|  Ralliant Corp. | 15843 | 692814 |
|  Rogers Corp.\* | 200 | 16092 |
|  Sanmina Corp.\* | 6800 | 782748 |
|  TD SYNNEX Corp. | 8766 | 1435432 |
|  Teledyne Technologies, Inc.\* | 6346 | 3719010 |
|  Trimble, Inc.\* | 32400 | 2645460 |
|  Vishay Intertechnology, Inc. | 5000 | 76500 |
|  Vontier Corp. | 23452 | 984280 |
|  Zebra Technologies Corp., Class A\* | 7100 | 2109836 |
|  |  | 62632323 |
|  ***IT Services (1.2%)*** |  |  |
|  Accenture plc, Class A | 79500 | 19604700 |
|  Akamai Technologies, Inc.\* | 22100 | 1674296 |
|  Amdocs Ltd. | 16610 | 1362851 |
|  ASGN, Inc.\* | 4300 | 203605 |
|  Cloudflare, Inc., Class A\* | 38400 | 8240256 |
|  Cognizant Technology Solutions Corp., Class A | 64900 | 4352843 |
|  DXC Technology Co.\* | 21096 | 287538 |
|  EPAM Systems, Inc.\* | 8800 | 1326952 |
|  Fastly, Inc., Class A\* | 13300 | 113715 |
|  Gartner, Inc.\* | 10378 | 2728065 |
|  Globant SA\* | 6398 | 367117 |
|  GoDaddy, Inc., Class A\* | 17800 | 2435574 |
|  International Business Machines Corp. | 117131 | 33049683 |
|  Kyndryl Holdings, Inc.\* | 32800 | 984984 |
|  MongoDB, Inc.\* | 10100 | 3134838 |
|  Okta, Inc.\* | 22800 | 2090760 |
|  Rackspace Technology, Inc.\* | 9900 | 13959 |
|  Snowflake, Inc., Class A\* | 38622 | 8711192 |
|  Twilio, Inc., Class A\* | 20100 | 2011809 |
|  VeriSign, Inc. | 10950 | 3061292 |
|  |  | 95756029 |
|  ***Semiconductors & Semiconductor Equipment (12.2%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 202053 | 32690155 |
|  Allegro MicroSystems, Inc.\* | 17900 | 522680 |
|  Ambarella, Inc.\* | 1700 | 140284 |
|  Amkor Technology, Inc. | 17400 | 494160 |
|  Analog Devices, Inc. | 61234 | 15045194 |
|  Applied Materials, Inc. | 101120 | 20703309 |
|  Astera Labs, Inc.\* | 18000 | 3524400 |
|  Broadcom, Inc. | 570100 | 188081691 |
|  Cirrus Logic, Inc.\* | 7400 | 927146 |
|  Credo Technology Group Holding Ltd.\* | 17000 | 2475370 |
|  Diodes, Inc.\* | 5900 | 313939 |
|  Entegris, Inc. | 22073 | 2040869 |
|  First Solar, Inc.\* | 14600 | 3219738 |
|  FormFactor, Inc.\* | 10300 | 375126 |
|  GLOBALFOUNDRIES, Inc.\* | 15300 | 548352 |
|  Intel Corp.\* | 551890 | 18515909 |
|  KLA Corp. | 16680 | 17991048 |
|  Kulicke & Soffa Industries, Inc. | 7500 | 304800 |
|  Lam Research Corp. | 160450 | 21484255 |
|  Lattice Semiconductor Corp.\* | 23300 | 1708356 |
|  MACOM Technology Solutions Holdings, Inc.\* | 6700 | 834083 |
|  Marvell Technology, Inc. | 107661 | 9051060 |
|  Microchip Technology, Inc. | 73840 | 4742005 |
|  Micron Technology, Inc. | 140150 | 23449898 |
|  MKS, Inc. | 9500 | 1175815 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/COMMON STOCK INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Monolithic Power Systems, Inc. | 5900 | $5431776 |
|  NVIDIA Corp. | 2889179 | 539063018 |
|  ON Semiconductor Corp.\* | 56700 | 2795877 |
|  Onto Innovation, Inc.\* | 7900 | 1020838 |
|  Power Integrations, Inc. | 1900 | 76399 |
|  Qorvo, Inc.\* | 17127 | 1559927 |
|  QUALCOMM, Inc. | 137905 | 22941876 |
|  Rambus, Inc.\* | 16700 | 1740140 |
|  Semtech Corp.\* | 10700 | 764515 |
|  Silicon Laboratories, Inc.\* | 4000 | 524520 |
|  SiTime Corp.\* | 2600 | 783406 |
|  Skyworks Solutions, Inc. | 24900 | 1916802 |
|  Synaptics, Inc.\* | 5900 | 403206 |
|  Teradyne, Inc. | 21410 | 2946872 |
|  Texas Instruments, Inc. | 112190 | 20612669 |
|  Universal Display Corp. | 7600 | 1091588 |
|  |  | 974033071 |
|  ***Software (10.8%)*** |  |  |
|  8x8, Inc.\* | 18300 | 38796 |
|  ACI Worldwide, Inc.\* | 13200 | 696564 |
|  Adobe, Inc.\* | 53420 | 18843905 |
|  Alarm.com Holdings, Inc.\* | 2300 | 122084 |
|  Alkami Technology, Inc.(x)\* | 1500 | 37260 |
|  Appfolio, Inc., Class A\* | 2500 | 689150 |
|  Appian Corp., Class A\* | 3700 | 113109 |
|  AppLovin Corp., Class A\* | 29900 | 21484346 |
|  Atlassian Corp., Class A\* | 22400 | 3577280 |
|  Aurora Innovation, Inc., Class A\* | 90400 | 487256 |
|  Autodesk, Inc.\* | 26550 | 8434138 |
|  AvePoint, Inc.\* | 14000 | 210140 |
|  Bentley Systems, Inc., Class B | 28300 | 1456884 |
|  BILL Holdings, Inc.\* | 14700 | 778659 |
|  Blackbaud, Inc.\* | 7500 | 482325 |
|  BlackLine, Inc.\* | 3500 | 185850 |
|  Box, Inc., Class A\* | 9300 | 300111 |
|  C3.ai, Inc., Class A(x)\* | 24900 | 431766 |
|  Cadence Design Systems, Inc.\* | 34530 | 12129008 |
|  CCC Intelligent Solutions Holdings, Inc.(x)\* | 65000 | 592150 |
|  Cerence, Inc.(x)\* | 1600 | 19936 |
|  Cleanspark, Inc.(x)\* | 35900 | 520550 |
|  Clearwater Analytics Holdings, Inc., Class A\* | 20000 | 360400 |
|  Commvault Systems, Inc.\* | 5300 | 1000534 |
|  Confluent, Inc., Class A\* | 33200 | 657360 |
|  Consensus Cloud Solutions, Inc.\* | 2166 | 63615 |
|  Core Scientific, Inc.\* | 39100 | 701454 |
|  Crowdstrike Holdings, Inc., Class A\* | 30200 | 14809476 |
|  Datadog, Inc., Class A\* | 40700 | 5795680 |
|  Docusign, Inc.\* | 25400 | 1831086 |
|  Dolby Laboratories, Inc., Class A | 5900 | 426983 |
|  Domo, Inc., Class B\* | 800 | 12672 |
|  Dropbox, Inc., Class A\* | 41200 | 1244652 |
|  D-Wave Quantum, Inc.(x)\* | 35500 | 877205 |
|  Dynatrace, Inc.\* | 39500 | 1913775 |
|  Elastic NV\* | 10000 | 844900 |
|  Fair Isaac Corp.\* | 3000 | 4489590 |
|  Five9, Inc.\* | 11500 | 278300 |
|  Fortinet, Inc.\* | 79200 | 6659136 |
|  Freshworks, Inc., Class A\* | 24200 | 284834 |
|  Gen Digital, Inc. | 66516 | 1888389 |
|  Gitlab, Inc., Class A(x)\* | 12700 | 572516 |
|  Guidewire Software, Inc.\* | 11700 | 2689362 |
|  HubSpot, Inc.\* | 6500 | 3040700 |
|  Informatica, Inc., Class A\* | 16900 | 419796 |
|  Intapp, Inc.\* | 6500 | 265850 |
|  InterDigital, Inc.(x) | 3300 | 1139259 |
|  Intuit, Inc. | 33950 | 23184795 |
|  Jamf Holding Corp.\* | 2000 | 21400 |
|  Life360, Inc.(x)\* | 2800 | 297640 |
|  LiveRamp Holdings, Inc.\* | 1900 | 51566 |
|  Manhattan Associates, Inc.\* | 9200 | 1885816 |
|  MARA Holdings, Inc.(x)\* | 43200 | 788832 |
|  Microsoft Corp. | 915478 | 474171830 |
|  N-able, Inc.\* | 9750 | 76050 |
|  nCino, Inc.\* | 12100 | 328031 |
|  NCR Voyix Corp.\* | 15200 | 190760 |
|  Nutanix, Inc., Class A\* | 34600 | 2573894 |
|  Oracle Corp. | 204421 | 57491362 |
|  Palantir Technologies, Inc., Class A\* | 269600 | 49180432 |
|  Palo Alto Networks, Inc.\* | 81700 | 16635754 |
|  Pegasystems, Inc. | 11600 | 667000 |
|  Procore Technologies, Inc.\* | 14500 | 1057340 |
|  PTC, Inc.\* | 16150 | 3278773 |
|  Q2 Holdings, Inc.\* | 6700 | 485013 |
|  Qualys, Inc.\* | 2000 | 264660 |
|  Roper Technologies, Inc. | 13950 | 6956726 |
|  Rubrik, Inc., Class A\* | 12200 | 1003450 |
|  SailPoint, Inc.(x)\* | 22000 | 485760 |
|  Salesforce, Inc. | 116251 | 27551487 |
|  Samsara, Inc., Class A\* | 33700 | 1255325 |
|  SentinelOne, Inc., Class A\* | 33300 | 586413 |
|  ServiceNow, Inc.\* | 25700 | 23651196 |
|  SPS Commerce, Inc.\* | 6400 | 666496 |
|  Strategy, Inc.(x)\* | 31300 | 10085173 |
|  Synopsys, Inc.\* | 23428 | 11559141 |
|  Tenable Holdings, Inc.\* | 4300 | 125388 |
|  Tyler Technologies, Inc.\* | 6000 | 3138960 |
|  UiPath, Inc., Class A\* | 57700 | 772026 |
|  Unity Software, Inc.\* | 42396 | 1697536 |
|  Varonis Systems, Inc.\* | 15600 | 896532 |
|  Verint Systems, Inc.\* | 1400 | 28350 |
|  Workday, Inc., Class A\* | 28480 | 6855990 |
|  Workiva, Inc., Class A\* | 4000 | 344320 |
|  Yext, Inc.\* | 7100 | 60492 |
|  Zeta Global Holdings Corp., Class A\* | 23700 | 470919 |
|  Zoom Communications, Inc., Class A\* | 39100 | 3225750 |
|  Zscaler, Inc.\* | 12100 | 3625886 |
|  |  | 861573055 |
|  ***Technology Hardware, Storage & Peripherals (6.1%)*** |  |  |
|  Apple, Inc. | 1792585 | 456445918 |
|  Corsair Gaming, Inc.\* | 4303 | 38383 |
|  Dell Technologies, Inc., Class C | 39900 | 5656623 |
|  Hewlett Packard Enterprise Co. | 161832 | 3974594 |
|  HP, Inc. | 127468 | 3470954 |
|  IonQ, Inc.(x)\* | 26000 | 1599000 |
|  NetApp, Inc. | 25450 | 3014807 |
|  Pure Storage, Inc., Class A\* | 43200 | 3620592 |
|  Sandisk Corp.\* | 16900 | 1896180 |
|  Super Micro Computer, Inc.(x)\* | 69000 | 3307860 |
|  Western Digital Corp. | 44778 | 5376047 |
|  |  | 488400958 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 2553006113 |
|  **Materials (2.2%)** |  |  |
|  ***Chemicals (1.1%)*** |  |  |
|  Air Products and Chemicals, Inc. | 28980 | 7903426 |
|  Albemarle Corp. | 18276 | 1481818 |
|  Ashland, Inc. | 264 | 12648 |
|  Avient Corp. | 6700 | 220765 |
|  Axalta Coating Systems Ltd.\* | 32258 | 923224 |
|  Balchem Corp. | 5700 | 855342 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/COMMON STOCK INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Celanese Corp. | 13800 | $580704 |
|  CF Industries Holdings, Inc. | 23410 | 2099877 |
|  Chemours Co. (The) | 4600 | 72864 |
|  Corteva, Inc. | 88390 | 5977816 |
|  Dow, Inc. | 95756 | 2195685 |
|  DuPont de Nemours, Inc. | 52032 | 4053293 |
|  Eastman Chemical Co. | 17028 | 1073615 |
|  Ecolab, Inc. | 31588 | 8650690 |
|  Element Solutions, Inc. | 38300 | 964011 |
|  FMC Corp. | 16000 | 538080 |
|  Huntsman Corp. | 5000 | 44900 |
|  International Flavors & Fragrances, Inc. | 39447 | 2427568 |
|  Linde plc | 58900 | 27977500 |
|  LyondellBasell Industries NV, Class A | 39300 | 1927272 |
|  Mosaic Co. (The) | 39330 | 1363964 |
|  NewMarket Corp. | 300 | 248463 |
|  Olin Corp. | 2500 | 62475 |
|  PPG Industries, Inc. | 28500 | 2995635 |
|  RPM International, Inc. | 18150 | 2139522 |
|  Sherwin-Williams Co. (The) | 30400 | 10526304 |
|  Westlake Corp. | 7200 | 554832 |
|  |  | 87872293 |
|  ***Construction Materials (0.3%)*** |  |  |
|  CRH plc | 88300 | 10587170 |
|  Eagle Materials, Inc. | 6100 | 1421544 |
|  James Hardie Industries plc (ADR)(x)\* | 30100 | 578221 |
|  Knife River Corp.\* | 1800 | 138366 |
|  Martin Marietta Materials, Inc. | 8130 | 5124176 |
|  Vulcan Materials Co. | 17500 | 5383350 |
|  |  | 23232827 |
|  ***Containers & Packaging (0.3%)*** |  |  |
|  Amcor plc | 324679 | 2655874 |
|  AptarGroup, Inc. | 10000 | 1336600 |
|  Avery Dennison Corp. | 11350 | 1840630 |
|  Ball Corp. | 45100 | 2273942 |
|  Crown Holdings, Inc. | 17450 | 1685496 |
|  Graphic Packaging Holding Co. | 56100 | 1097877 |
|  International Paper Co. | 68250 | 3166800 |
|  Packaging Corp. of America | 13000 | 2833090 |
|  Sealed Air Corp. | 18460 | 652561 |
|  Silgan Holdings, Inc. | 11200 | 481712 |
|  Smurfit WestRock plc | 69232 | 2947206 |
|  Sonoco Products Co. | 6360 | 274052 |
|  |  | 21245840 |
|  ***Metals & Mining (0.5%)*** |  |  |
|  Alcoa Corp. | 32900 | 1082081 |
|  Anglogold Ashanti plc | 63200 | 4444856 |
|  Carpenter Technology Corp. | 6700 | 1645118 |
|  Cleveland-Cliffs, Inc.\* | 60600 | 739320 |
|  Coeur Mining, Inc.\* | 78600 | 1474536 |
|  Commercial Metals Co. | 21300 | 1220064 |
|  Freeport-McMoRan, Inc. | 183894 | 7212323 |
|  MP Materials Corp.\* | 16100 | 1079827 |
|  Newmont Corp. | 137408 | 11584868 |
|  Nucor Corp. | 28320 | 3835378 |
|  Reliance, Inc. | 7600 | 2134308 |
|  Royal Gold, Inc. | 8600 | 1724988 |
|  Southern Copper Corp. | 13594 | 1649768 |
|  Steel Dynamics, Inc. | 21100 | 2941973 |
|  |  | 42769408 |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Louisiana-Pacific Corp. | 8900 | 790676 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 175911044 |
|  **Real Estate (2.4%)** |  |  |
|  ***Diversified REITs (0.0%)†*** |  |  |
|  American Assets Trust, Inc. (REIT) | 3100 | 62992 |
|  Broadstone Net Lease, Inc. (REIT) | 5600 | 100072 |
|  Essential Properties Realty Trust, Inc. (REIT) | 21500 | 639840 |
|  WP Carey, Inc. (REIT) | 29921 | 2021762 |
|  |  | 2824666 |
|  ***Health Care REITs (0.4%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) | 25080 | 2090167 |
|  American Healthcare REIT, Inc. (REIT) | 19500 | 819195 |
|  CareTrust REIT, Inc. (REIT) | 24200 | 839256 |
|  Diversified Healthcare Trust (REIT) | 22690 | 100063 |
|  Healthcare Realty Trust, Inc. (REIT), Class A(x) | 58041 | 1046479 |
|  Healthpeak Properties, Inc. (REIT) | 110518 | 2116420 |
|  LTC Properties, Inc. (REIT) | 2400 | 88464 |
|  National Health Investors, Inc. (REIT) | 300 | 23850 |
|  Omega Healthcare Investors, Inc. (REIT) | 44440 | 1876257 |
|  Sabra Health Care REIT, Inc. (REIT) | 3157 | 58847 |
|  Ventas, Inc. (REIT) | 53479 | 3742995 |
|  Welltower, Inc. (REIT) | 81317 | 14485810 |
|  |  | 27287803 |
|  ***Hotel & Resort REITs (0.1%)*** |  |  |
|  Apple Hospitality REIT, Inc. (REIT) | 43500 | 522435 |
|  DiamondRock Hospitality Co. (REIT) | 14300 | 113828 |
|  Host Hotels & Resorts, Inc. (REIT) | 115813 | 1971137 |
|  Park Hotels & Resorts, Inc. (REIT)(x) | 12535 | 138888 |
|  RLJ Lodging Trust (REIT) | 15000 | 108000 |
|  Ryman Hospitality Properties, Inc. (REIT) | 10751 | 963182 |
|  Service Properties Trust (REIT) | 11300 | 30623 |
|  Sunstone Hotel Investors, Inc. (REIT) | 8400 | 78708 |
|  Xenia Hotels & Resorts, Inc. (REIT) | 5100 | 69972 |
|  |  | 3996773 |
|  ***Industrial REITs (0.2%)*** |  |  |
|  Americold Realty Trust, Inc. (REIT) | 37100 | 454104 |
|  EastGroup Properties, Inc. (REIT) | 6800 | 1150968 |
|  First Industrial Realty Trust, Inc. (REIT) | 20000 | 1029400 |
|  Innovative Industrial Properties, Inc. (REIT) | 1300 | 69654 |
|  Lineage, Inc. (REIT) | 8697 | 336052 |
|  LXP Industrial Trust (REIT) | 11700 | 104832 |
|  Prologis, Inc. (REIT) | 114463 | 13108303 |
|  Rexford Industrial Realty, Inc. (REIT) | 29300 | 1204523 |
|  STAG Industrial, Inc. (REIT) | 27800 | 981062 |
|  Terreno Realty Corp. (REIT) | 11600 | 658300 |
|  |  | 19097198 |
|  ***Office REITs (0.1%)*** |  |  |
|  Brandywine Realty Trust (REIT) | 11500 | 47955 |
|  BXP, Inc. (REIT)(x) | 20970 | 1558910 |
|  Cousins Properties, Inc. (REIT) | 20961 | 606611 |
|  Easterly Government Properties, Inc. (REIT), Class A | 3280 | 75211 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/COMMON STOCK INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Hudson Pacific Properties, Inc. (REIT)\* | 24500 | $67620 |
|  JBG SMITH Properties (REIT) | 9600 | 213600 |
|  Kilroy Realty Corp. (REIT)(x) | 13600 | 574600 |
|  NET Lease Office Properties (REIT) | 2014 | 59735 |
|  Paramount Group, Inc. (REIT)\* | 22800 | 149112 |
|  Piedmont Realty Trust, Inc. (REIT) | 25100 | 225900 |
|  SL Green Realty Corp. (REIT) | 2200 | 131582 |
|  Vornado Realty Trust (REIT) | 25900 | 1049727 |
|  |  | 4760563 |
|  ***Real Estate Management & Development (0.2%)*** |  |  |
|  CBRE Group, Inc., Class A\* | 37350 | 5884866 |
|  Compass, Inc., Class A\* | 30900 | 248127 |
|  CoStar Group, Inc.\* | 53050 | 4475829 |
|  Cushman & Wakefield plc\* | 1700 | 27064 |
|  eXp World Holdings, Inc.(x) | 11270 | 120138 |
|  Howard Hughes Holdings, Inc.\* | 5800 | 476586 |
|  Jones Lang LaSalle, Inc.\* | 6600 | 1968648 |
|  Kennedy-Wilson Holdings, Inc. | 19700 | 163904 |
|  Marcus & Millichap, Inc. | 1100 | 32285 |
|  Newmark Group, Inc., Class A | 15219 | 283834 |
|  RMR Group, Inc. (The), Class A | 271 | 4263 |
|  Seaport Entertainment Group, Inc.(x)\* | 854 | 19574 |
|  St Joe Co. (The) | 5100 | 252348 |
|  Zillow Group, Inc., Class C\* | 27124 | 2089904 |
|  |  | 16047370 |
|  ***Residential REITs (0.3%)*** |  |  |
|  American Homes 4 Rent (REIT), |  |  |
|  Class A | 47500 | 1579375 |
|  AvalonBay Communities, Inc. (REIT) | 20249 | 3911499 |
|  Camden Property Trust (REIT) | 15680 | 1674310 |
|  Elme Communities (REIT) | 11170 | 188326 |
|  Equity LifeStyle Properties, Inc. (REIT) | 27500 | 1669250 |
|  Equity Residential (REIT) | 49687 | 3216240 |
|  Essex Property Trust, Inc. (REIT) | 8677 | 2322486 |
|  Independence Realty Trust, Inc. (REIT) | 11400 | 186846 |
|  Invitation Homes, Inc. (REIT) | 77996 | 2287623 |
|  Mid-America Apartment Communities, Inc. (REIT) | 14938 | 2087287 |
|  Sun Communities, Inc. (REIT) | 18600 | 2399400 |
|  UDR, Inc. (REIT) | 52936 | 1972395 |
|  Veris Residential, Inc. (REIT) | 5300 | 80560 |
|  |  | 23575597 |
|  ***Retail REITs (0.3%)*** |  |  |
|  Acadia Realty Trust (REIT)(x) | 9000 | 181350 |
|  Agree Realty Corp. (REIT) | 13200 | 937728 |
|  Brixmor Property Group, Inc. (REIT) | 45300 | 1253904 |
|  Curbline Properties Corp. (REIT) | 6200 | 138260 |
|  Federal Realty Investment Trust (REIT) | 12380 | 1254218 |
|  Getty Realty Corp. (REIT) | 3100 | 83173 |
|  InvenTrust Properties Corp. (REIT) | 1900 | 54378 |
|  Kimco Realty Corp. (REIT) | 99485 | 2173747 |
|  Kite Realty Group Trust (REIT) | 34998 | 780455 |
|  Macerich Co. (The) (REIT) | 10822 | 196961 |
|  NNN REIT, Inc. (REIT) | 27190 | 1157478 |
|  Phillips Edison & Co., Inc. (REIT) | 3700 | 127021 |
|  Realty Income Corp. (REIT) | 119341 | 7254739 |
|  Regency Centers Corp. (REIT) | 26006 | 1895837 |
|  Simon Property Group, Inc. (REIT) | 42159 | 7911980 |
|  SITE Centers Corp. (REIT) | 3100 | 27931 |
|  Tanger, Inc. (REIT) | 5300 | 179352 |
|  Urban Edge Properties (REIT) | 8910 | 182388 |
|  |  | 25790900 |
|  ***Specialized REITs (0.8%)*** |  |  |
|  American Tower Corp. (REIT) | 57700 | 11096864 |
|  Crown Castle, Inc. (REIT) | 56850 | 5485456 |
|  CubeSmart (REIT) | 39700 | 1614202 |
|  Digital Realty Trust, Inc. (REIT) | 44972 | 7774759 |
|  EPR Properties (REIT) | 1700 | 98617 |
|  Equinix, Inc. (REIT) | 12661 | 9916602 |
|  Extra Space Storage, Inc. (REIT) | 28741 | 4050757 |
|  Gaming and Leisure Properties, Inc. (REIT) | 36886 | 1719256 |
|  Iron Mountain, Inc. (REIT) | 39355 | 4011849 |
|  Lamar Advertising Co. (REIT), Class A | 13639 | 1669686 |
|  Millrose Properties, Inc. (REIT) | 10300 | 346183 |
|  National Storage Affiliates |  |  |
|  Trust (REIT) | 3000 | 90660 |
|  PotlatchDeltic Corp. (REIT) | 151 | 6153 |
|  Public Storage (REIT) | 19702 | 5690923 |
|  Rayonier, Inc. (REIT) | 3401 | 90263 |
|  Safehold, Inc. (REIT) | 3000 | 46470 |
|  SBA Communications Corp. (REIT) | 15300 | 2958255 |
|  VICI Properties, Inc. (REIT), Class A | 130300 | 4249083 |
|  Weyerhaeuser Co. (REIT) | 111535 | 2764953 |
|  |  | 63680991 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 187061861 |
|  **Utilities (2.3%)** |  |  |
|  ***Electric Utilities (1.4%)*** |  |  |
|  Alliant Energy Corp. | 34700 | 2339127 |
|  American Electric Power Co., Inc. | 66570 | 7489125 |
|  Constellation Energy Corp. | 39952 | 13147005 |
|  Duke Energy Corp. | 99885 | 12360769 |
|  Edison International | 51360 | 2839181 |
|  Entergy Corp. | 57000 | 5311830 |
|  Evergy, Inc. | 28409 | 2159652 |
|  Eversource Energy | 44958 | 3198312 |
|  Exelon Corp. | 132456 | 5961845 |
|  FirstEnergy Corp. | 73504 | 3367953 |
|  IDACORP, Inc. | 6850 | 905227 |
|  NextEra Energy, Inc. | 257900 | 19468871 |
|  NRG Energy, Inc. | 27421 | 4440831 |
|  OGE Energy Corp. | 25400 | 1175258 |
|  Oklo, Inc., Class A(x)\* | 12700 | 1417701 |
|  PG&E Corp. | 288900 | 4356612 |
|  Pinnacle West Capital Corp. | 15000 | 1344900 |
|  Portland General Electric Co. | 4000 | 176000 |
|  PPL Corp. | 100450 | 3732722 |
|  Southern Co. (The) | 134950 | 12789211 |
|  TXNM Energy, Inc. | 11600 | 655980 |
|  Xcel Energy, Inc. | 75680 | 6103592 |
|  |  | 114741704 |
|  ***Gas Utilities (0.1%)*** |  |  |
|  Atmos Energy Corp. | 21100 | 3602825 |
|  Brookfield Infrastructure Corp., Class A | 9561 | 393148 |
|  National Fuel Gas Co. | 13700 | 1265469 |
|  New Jersey Resources Corp. | 9400 | 452610 |
|  ONE Gas, Inc.(x) | 900 | 72846 |
|  Southwest Gas Holdings, Inc. | 4300 | 336862 |
|  Spire, Inc. | 2800 | 228256 |
|  UGI Corp. | 39575 | 1316265 |
|  |  | 7668281 |
|  ***Independent Power and Renewable Electricity Producers (0.2%)*** |  |  |
|  AES Corp. (The) | 103695 | 1364626 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/COMMON STOCK INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Brookfield Renewable Corp. | 16800 | $578256 |
|  Ormat Technologies, Inc. | 7600 | 731500 |
|  Talen Energy Corp.\* | 5700 | 2424666 |
|  Vistra Corp. | 42215 | 8270763 |
|  |  | 13369811 |
|  ***Multi-Utilities (0.6%)*** |  |  |
|  Ameren Corp. | 34400 | 3590672 |
|  Black Hills Corp. | 3300 | 203247 |
|  CenterPoint Energy, Inc. | 83150 | 3226220 |
|  CMS Energy Corp. | 38000 | 2783880 |
|  Consolidated Edison, Inc. | 44500 | 4473140 |
|  Dominion Energy, Inc. | 106454 | 6511791 |
|  DTE Energy Co. | 26400 | 3733752 |
|  NiSource, Inc. | 61600 | 2667280 |
|  Public Service Enterprise Group, Inc. | 67800 | 5658588 |
|  Sempra | 82980 | 7466541 |
|  WEC Energy Group, Inc. | 40898 | 4686502 |
|  |  | 45001613 |
|  ***Water Utilities (0.0%)†*** |  |  |
|  American Water Works Co., Inc. | 23600 | 3284884 |
|  Essential Utilities, Inc. | 42062 | 1678274 |
|  |  | 4963158 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 185744567 |
|  **Total Common Stocks (99.6%)**<br> *(Cost $1,660,812,792)* |  | 7939527574 |
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Biotechnology (0.0%)†*** |  |  |
|  Chinook Therapeutics, Inc., CVR\* | 13100 | 2620 |
|  Mirati Therapeutics, Inc., CVR(r)\* | 7300 | 2737 |
|  |  | 5357 |
|  ***Life Sciences Tools & Services (0.0%)*** |  |  |
|  OmniAb, Inc., expiring 11/1/27(r)\* | 1744 |  |
|  **Total Rights (0.0%)†**<br>(*Cost $3,833*) |  | 5357 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.2%)** |  |  |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 1000000 | $1000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 13631195 | 13631195 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 14631195 |
|  **Total Short-Term Investments (0.2%)**<br>*(Cost $14,631,195)* |  | 14631195 |
|  **Total Investments in Securities (99.8%)**<br>*(Cost $1,675,447,820)* |  | 7954164126 |
|  **Other Assets Less Liabilities (0.2%)** |  | 16537838 |
|  **Net Assets (100%)** |  | $7970701964 |

---

*\** *Non-income producing.* 

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

*#* *All, or a portion of security held by broker as collateral for financial futures contracts, with a total collateral value of $34,501,500.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $39,744,630. This was collateralized by $26,261,019 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.125%, maturing 9/30/25 – 5/15/55 and by cash of $14,631,895 of which $14,631,195 was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*CVR — Contingent Value Right* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/COMMON STOCK INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  Russell 2000 E-Mini Index | 14 | 12/2025 | USD | 1718850 | 9831 |
|  S&P 500 E-Mini Index | 94 | 12/2025 | USD | 31672125 | 423565 |
|  |  |  |  |  | 433396 |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $767668712 | $— | $— | $767668712 |
|  Consumer Discretionary | 849017627 |  |  | 849017627 |
|  Consumer Staples | 371290389 |  |  | 371290389 |
|  Energy | 241396413 |  |  | 241396413 |
|  Financials | 1115001511 |  |  | 1115001511 |
|  Health Care | 735782295 |  | — (a) | 735782295 |
|  Industrials | 757647042 |  |  | 757647042 |
|  Information Technology | 2553006113 |  |  | 2553006113 |
|  Materials | 175911044 |  |  | 175911044 |
|  Real Estate | 187061861 |  |  | 187061861 |
|  Utilities | 185744567 |  |  | 185744567 |
|  **Futures** | 433396 |  |  | 433396 |
|  **Rights** |  |  |  |  |
|  Health Care |  | 2620 | 2737 | 5357 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 14631195 |  |  | 14631195 |
|  **Total Assets** | $**7954592165** | $**2620** | $**2737** | $**7954597522** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**7954592165** | $**2620** | $**2737** | $**7954597522** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $6474881938 |
|  Aggregate gross unrealized depreciation | (216163983) |
|  Net unrealized appreciation | $6258717955 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1695879567 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Asset-Backed Securities (0.0%)†** |  |  |
|  American Airlines Pass- |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-2 AA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 10/15/29 | $217401 | $209029 |
|  Delta Air Lines Pass- |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1 AA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 6/10/28 | 350515 | 336691 |
|  United Airlines Pass- |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/15/27 | 1768286 | 1808221 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Asset- Backed Securities** |  | 2353941 |
|  **Corporate Bonds (30.2%)** |  |  |
|  **Communication Services (1.7%)** |  |  |
|  ***Diversified Telecommunication Services (0.7%)*** |  |  |
|  AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 2/15/27 | 1000000 | 995472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 6/1/27 | 500000 | 485266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 2/1/28 | 185000 | 174945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 2/15/28 | 453000 | 452651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 3/1/29 | 1665000 | 1672314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 2/15/30 | 5159000 | 5166752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 2/15/34 | 3000000 | 3113721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 8/15/35 | 1000000 | 1029508 |
|  Bell Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 5/11/33 | 500000 | 507476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 2/15/34 | 2000000 | 2024617 |
|  British Telecommunications plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 12/4/28 | 500000 | 512038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 12/15/30(e) | 2000000 | 2462384 |
|  Deutsche Telekom International Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 6/15/30(e) | 2500000 | 2943696 |
|  Telefonica Emisiones SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.103%, 3/8/27 | 440000 | 439079 |
|  TELUS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 2/16/27(x) | 400000 | 392374 |
|  Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 3/22/28 | 750000 | 715015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.329%, 9/21/28 | 7238000 | 7289391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 2/8/29 | 140000 | 138801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.016%, 12/3/29 | 1500000 | 1490339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 3/22/30 | 375000 | 358413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 9/18/30(x) | 600000 | 524141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.680%, 10/30/30 | 1957000 | 1719229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 3/21/31 | 1220000 | 1108492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 5/9/33 | 325000 | 332900 |
|  |  | 36049014 |
|  ***Entertainment (0.1%)*** |  |  |
|  Electronic Arts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.850%, 2/15/31(x) | 295000 | 259609 |
|  Netflix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 8/15/34(x) | 1385000 | 1429740 |
|  Take-Two Interactive Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 3/28/28 | 500000 | 509081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 6/12/29 | 95000 | 98299 |
|  Tencent Music Entertainment Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 9/3/30 | 215000 | 192653 |
|  TWDC Enterprises 18 Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 6/15/27 | 1000000 | 986057 |
|  Walt Disney Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 11/15/26 | 300000 | 298180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 1/13/28 | 700000 | 675491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 9/1/29 | 500000 | 463555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 1/13/31 | 1250000 | 1162947 |
|  |  | 6075612 |
|  ***Interactive Media & Services (0.2%)*** |  |  |
|  Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.800%, 8/15/27 | 1000000 | 948346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.100%, 8/15/30 | 650000 | 569090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/15/35 | 500000 | 500514 |
|  Baidu, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 2/23/27 | 290000 | 280798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/29/28 | 290000 | 292381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 11/14/28 | 315000 | 322600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 10/9/30 | 200000 | 183904 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 8/23/31 | 500000 | 452625 |
|  Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 5/15/28 | 500000 | 510258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 5/15/30 | 350000 | 361130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 5/15/33 | 2750000 | 2843299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 8/15/34 | 410000 | 414323 |
|  Weibo Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 7/8/30 | 500000 | 473470 |
|  |  | 8152738 |
|  ***Media (0.3%)*** |  |  |
|  Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 1/15/29 | 585000 | 543629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 6/1/29 | 3235000 | 3390927 |
|  Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 10/15/28 | 5025000 | 5043028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 1/15/29 | 350000 | 354470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 6/1/29 | 295000 | 304930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 4/1/30 | 2500000 | 2415534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 2/15/33 | 750000 | 752887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 5/15/33(x) | 500000 | 504759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 5/15/35(x) | 350000 | 359036 |
|  Fox Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.709%, 1/25/29 | 730000 | 738888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/8/30 | 2000000 | 1934899 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/13/33 | 450000 | 495610 |
|  Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 2/15/28 | 570000 | 555183 |
|  |  | 17393780 |
|  ***Wireless Telecommunication Services (0.4%)*** |  |  |
|  America Movil SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 4/22/29 | 500000 | 487335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/7/30 | 1450000 | 1349950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 7/21/32 | 405000 | 405607 |
|  Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 11/15/26(x) | 500000 | 491860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 3/15/27 | 500000 | 492866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 3/15/32 | 625000 | 589449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 2/15/34 | 2000000 | 2029502 |
|  T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/15/27 | 2500000 | 2484896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 2/15/28 | 700000 | 667389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 3/15/28 | 305000 | 310732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 7/15/28 | 625000 | 636384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 3/15/29 | 340000 | 319978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 4/15/30 | 3000000 | 2938459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 5/15/32 | 500000 | 514122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 1/15/33 | 2610000 | 2693673 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** | **Value**<br>**(Note 1)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 1/15/34 | $| 2000000 | $| 2114925 |  |
|  |  |  |  | 18527127 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  |  |  | 86198271 |  |
|  **Consumer Discretionary (1.4%)** |  |  |  |  |  |
|  ***Automobile Components (0.0%)†*** |  |  |  |  |  |
|  Aptiv Swiss Holdings Ltd. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 3/15/29 |  | 105000 |  | 105125 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 9/13/34 |  | 400000 |  | 396956 |  |
|  BorgWarner, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 7/1/27 |  | 300000 |  | 292158 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 8/15/34(x) |  | 75000 |  | 77048 |  |
|  Lear Corp. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/29 |  | 125000 |  | 124208 |  |
|  Magna International, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 6/15/30 |  | 300000 |  | 276332 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/21/33(x) |  | 500000 |  | 518767 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 6/1/35 |  | 90000 |  | 94708 |  |
|  |  |  |  | 1885302 |  |
|  ***Automobiles (0.2%)*** |  |  |  |  |  |
|  Ford Motor Co. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 2/12/32 |  | 2500000 |  | 2181625 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 8/19/32(x) |  | 2500000 |  | 2560400 |  |
|  General Motors Co. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.800%, 10/1/27 |  | 405000 |  | 422698 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/1/28 |  | 750000 |  | 762339 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 10/15/29 |  | 500000 |  | 516204 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 4/15/35 |  | 500000 |  | 524212 |  |
|  Honda Motor Co. Ltd. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.534%, 3/10/27 |  | 165000 |  | 161346 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.967%, 3/10/32 |  | 200000 |  | 181799 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.337%, 7/8/35 |  | 750000 |  | 762792 |  |
|  Toyota Motor Corp. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.118%, 7/13/28 |  | 500000 |  | 514402 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.669%, 7/20/28 |  | 355000 |  | 353657 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.760%, 7/2/29 |  | 250000 |  | 238532 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.362%, 3/25/31 |  | 600000 |  | 544281 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.123%, 7/13/33 |  | 500000 |  | 520161 |  |
|  |  |  |  | 10244448 |  |
|  ***Broadline Retail (0.3%)*** |  |  |  |  |  |
|  Alibaba Group Holding Ltd. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 12/6/27 |  | 1780000 |  | 1759103 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 5/26/30§ |  | 1000000 |  | 1031990 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/9/31(x) |  | 490000 |  | 441323 |  |
|  Amazon.com, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 4/13/27 |  | 1300000 |  | 1290820 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 6/3/27(x) |  | 340000 |  | 326237 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 8/22/27 |  | 4000000 |  | 3958085 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 12/1/27 |  | 1000000 |  | 1015067 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 4/13/32 |  | 1650000 |  | 1593377 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 12/1/32(x) |  | 1000000 |  | 1026956 |  |
|  eBay, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 6/5/27 |  | 750000 |  | 744428 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 3/11/30 |  | 700000 |  | 655315 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 5/10/31 |  | 1000000 |  | 908789 |  |
|  JD.com, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 1/14/30 |  | 320000 |  | 309891 |  |
|  |  |  |  | 15061381 |  |
|  ***Distributors (0.0%)†*** |  |  |  |  |  |
|  Genuine Parts Co. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 11/1/30 |  | 285000 |  | 250601 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/1/33 |  | 1000000 |  | 1119903 |  |
|  |  |  |  | 1370504 |  |
|  ***Diversified Consumer Services (0.0%)†*** | ***Diversified Consumer Services (0.0%)†*** | ***Diversified Consumer Services (0.0%)†*** | ***Diversified Consumer Services (0.0%)†*** | ***Diversified Consumer Services (0.0%)†*** | **** |
|  Leland Stanford Junior University (The) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.289%, 6/1/27 |  | 35000 |  | 33457 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.679%, 3/1/35 |  | 250000 |  | 251354 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.146%, 8/1/30 |  | 210000 |  | 210586 |  |
|  Yale University |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.482%, 4/15/30 |  | 500000 |  | 446475 |  |
|  |  |  |  | 941872 |  |
|  ***Hotels, Restaurants & Leisure (0.3%)*** |  |  |  |  |  |
|  Darden Restaurants, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.300%, 10/10/33 |  | 290000 |  | 313939 |  |
|  Expedia Group, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 8/1/27 |  | 840000 |  | 846073 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 2/15/30 |  | 1500000 |  | 1433304 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 3/15/31 |  | 185000 |  | 171262 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 2/15/35 |  | 160000 |  | 164089 |  |
|  Hyatt Hotels Corp. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 1/30/27 |  | 320000 |  | 325958 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 9/15/28 |  | 950000 |  | 950347 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/30/29 |  | 275000 |  | 282130 |  |
|  Las Vegas Sands Corp. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/15/29 |  | 250000 |  | 259924 |  |
|  Marriott International, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 7/15/27 |  | 145000 |  | 145371 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/27 |  | 165000 |  | 167912 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 10/15/28 |  | 585000 |  | 607388 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 4/15/29 |  | 185000 |  | 188889 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/15/31 |  | 500000 |  | 498084 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series AA |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 12/1/28 |  | 500000 |  | 505828 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series FF |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 6/15/30 |  | 725000 |  | 732113 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series X |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/15/28 |  | 500000 |  | 498310 |  |
|  McDonald's Corp. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/1/27 |  | 775000 |  | 769064 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 4/1/28 |  | 1100000 |  | 1095565 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 8/14/28 |  | 500000 |  | 509897 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/17/29 |  | 320000 |  | 329512 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 9/1/29 |  | 290000 |  | 274762 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 3/1/30 |  | 220000 |  | 201517 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 2/12/31 |  | 250000 |  | 250390 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 9/9/32(x) |  | 350000 |  | 354714 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 8/14/33 |  | 500000 |  | 514744 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 3/3/35 |  | 500000 |  | 506964 |  |
|  Starbucks Corp. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/12/27 |  | 350000 |  | 339866 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/1/28 |  | 750000 |  | 740558 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/28 |  | 800000 |  | 798553 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 3/12/30 |  | 350000 |  | 321500 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/14/32(x) |  | 220000 |  | 202399 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 2/15/33 |  | 355000 |  | 359571 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 5/15/35 |  | 290000 |  | 300877 |  |
|  |  |  |  | 15961374 |  |
|  ***Household Durables (0.1%)*** |  |  |  |  |  |
|  DR Horton, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.300%, 10/15/26 |  | 275000 |  | 267218 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.400%, 10/15/27 |  | 750000 |  | 711077 |  |
|  Leggett & Platt, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/15/27(x) |  | 500000 |  | 490167 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 3/15/29(x) |  | 350000 |  | 344709 |  |
|  Mohawk Industries, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 9/18/28 |  | 125000 |  | 130609 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5/15/30 |  | 350000 |  | 337618 |  |
|  NVR, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/15/30 |  | 1320000 |  | 1247896 |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  PulteGroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/15/27 | $424000 | $427627 |
|  Toll Brothers Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 6/15/35 | 355000 | 363148 |
|  |  | 4320069 |
|  ***Leisure Products (0.0%)†*** |  |  |
|  Hasbro, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 11/19/26 | 250000 | 247965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/15/27 | 290000 | 286223 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 11/19/29 | 500000 | 486954 |
|  |  | 1021142 |
|  ***Specialty Retail (0.4%)*** |  |  |
|  AutoNation, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 11/15/27 | 500000 | 494463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 8/1/28(x) | 225000 | 211025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 8/1/31 | 150000 | 130958 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 3/1/32 | 300000 | 280530 |
|  AutoZone, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/1/28 | 280000 | 282612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/18/29 | 500000 | 491678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 7/15/29 | 385000 | 395819 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 8/1/32 | 330000 | 332483 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 8/1/33 | 500000 | 513348 |
|  Best Buy Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 10/1/28 | 1000000 | 1006713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 10/1/30 | 375000 | 332764 |
|  Home Depot, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 4/15/27 | 335000 | 330063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 9/14/27 | 750000 | 735589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.900%, 3/15/28 | 700000 | 652037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 12/6/28 | 290000 | 290151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 4/15/29 | 585000 | 601605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 6/15/29 | 455000 | 438917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/25/29 | 340000 | 348106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 4/15/32 | 435000 | 406867 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/15/32 | 440000 | 446832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 6/25/34 | 3000000 | 3073777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 9/15/35(x) | 415000 | 411413 |
|  Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 4/1/27 | 180000 | 178287 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 5/3/27 | 750000 | 739012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.300%, 4/15/28 | 655000 | 612236 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 9/15/28 | 250000 | 233541 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 4/5/29 | 680000 | 666922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 10/15/30 | 655000 | 576153 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 3/15/31 | 250000 | 248462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 4/1/31 | 1750000 | 1598105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/1/32 | 500000 | 477818 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/15/33 | 415000 | 424894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 10/15/35(x) | 470000 | 464852 |
|  O'Reilly Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 6/1/28 | 800000 | 803991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 6/15/32 | 250000 | 251990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/19/34 | 500000 | 503974 |
|  TJX Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.150%, 5/15/28 | 300000 | 279188 |
|  Tractor Supply Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 11/1/30 | 280000 | 246174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 5/15/33 | 75000 | 77234 |
|  |  | 20590583 |
|  ***Textiles, Apparel & Luxury Goods (0.1%)*** |  |  |
|  NIKE, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 11/1/26 | 1000000 | 983648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 3/27/30 | 1000000 | 949614 |
|  Ralph Lauren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 6/15/30 | 130000 | 122595 |
|  |  | 2055857 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 73452532 |
|  **Consumer Staples (1.8%)** |  |  |
|  ***Beverages (0.5%)*** |  |  |
|  Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1/23/29 | 3470000 | 3537161 |
|  Brown-Forman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 4/15/33 | 800000 | 809063 |
|  Coca-Cola Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 5/25/27 | 500000 | 492775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 6/1/27(x) | 300000 | 288901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 3/5/28 | 730000 | 691713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 3/15/28 | 440000 | 412172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 9/6/29 | 750000 | 701507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 6/1/30 | 1010000 | 907844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/5/31 | 835000 | 750810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 8/14/34(x) | 280000 | 284453 |
|  Coca-Cola Consolidated, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/1/29 | 125000 | 129279 |
|  Coca-Cola Femsa SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 1/22/30 | 1295000 | 1215992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 5/6/35 | 500000 | 504500 |
|  Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/9/27 | 300000 | 296809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 5/9/27 | 500000 | 501383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 11/15/28 | 310000 | 313398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 8/1/29 | 750000 | 719020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/1/31 | 475000 | 418217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/9/32 | 500000 | 501771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 5/1/33 | 250000 | 252210 |
|  Diageo Capital plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 5/18/28 | 400000 | 398738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 10/24/29 | 410000 | 383766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 4/29/30 | 245000 | 222665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 10/5/33 | 1500000 | 1592843 |
|  Keurig Dr Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 4/15/29 | 500000 | 491408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 3/15/31(x) | 210000 | 185238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 4/15/32 | 335000 | 319840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 5/15/35 | 750000 | 743513 |
|  Pepsico Singapore Financing I Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 2/16/34 | 2000000 | 2007232 |
|  PepsiCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 10/6/26 | 670000 | 659806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 3/19/27 | 350000 | 343842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 2/18/28(x) | 500000 | 497493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 5/15/28 | 300000 | 304739 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 7/29/29(x) | 375000 | 357113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 3/19/30 | 350000 | 330479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 5/1/30 | 190000 | 170455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 10/21/31 | 3130000 | 2749142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 7/18/32 | 200000 | 195134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 2/15/33 | 300000 | 302432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 7/17/34 | 200000 | 203135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/23/35 | 250000 | 254647 |
|  |  | 26442638 |
|  ***Consumer Staples Distribution & Retail (0.3%)*** |  |  |
|  Costco Wholesale Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/18/27 | 2500000 | 2470932 |
|  Dollar General Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/1/27 | 400000 | 403075 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 7/5/28 | $415000 | $425066 |
|  Dollar Tree, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 12/1/31(x) | 500000 | 445658 |
|  Kroger Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 10/15/26 | 600000 | 591114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/15/29 | 350000 | 354160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 1/15/31 | 625000 | 546618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/15/34 | 2340000 | 2353718 |
|  Sysco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 2/15/30 | 115000 | 106442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 4/1/30 | 2000000 | 2119321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 12/14/31 | 180000 | 160035 |
|  Target Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 1/15/27 | 400000 | 390341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 4/15/29 | 750000 | 733455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/15/32 | 500000 | 502831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 1/15/33 | 85000 | 84911 |
|  Walmart, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 9/9/27 | 440000 | 441674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 4/15/28 | 315000 | 316168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 9/22/28 | 475000 | 445036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 9/24/29 | 19000 | 17975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/15/30(x) | 250000 | 251601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 9/22/31 | 210000 | 184940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 9/9/32 | 470000 | 470879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 4/15/33 | 2335000 | 2317626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 4/28/35 | 180000 | 184467 |
|  |  | 16318043 |
|  ***Food Products (0.4%)*** |  |  |
|  Archer-Daniels-Midland Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 3/1/32 | 340000 | 310391 |
|  Bunge Ltd. Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 9/25/27 | 225000 | 223682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 5/14/31 | 750000 | 686498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 9/17/34 | 200000 | 195752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 8/4/35 | 500000 | 505917 |
|  Campbell's Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 3/21/34 | 750000 | 767717 |
|  Conagra Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 10/1/26 | 295000 | 297829 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 11/1/28 | 885000 | 893853 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 8/1/35(x) | 500000 | 507946 |
|  Flowers Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/1/26 | 535000 | 530051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 3/15/31 | 160000 | 141783 |
|  General Mills, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 4/17/28 | 375000 | 375654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 10/14/31 | 875000 | 770286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 3/29/33 | 180000 | 182414 |
|  Hershey Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/4/28 | 350000 | 353224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 11/15/29 | 200000 | 187741 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 6/1/30 | 390000 | 348754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/4/33 | 355000 | 355751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 2/24/35 | 200000 | 205803 |
|  Hormel Foods Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 6/3/28(x) | 535000 | 504343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 6/11/30 | 415000 | 372788 |
|  Ingredion, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 10/1/26 | 200000 | 198042 |
|  J M Smucker Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 12/15/27 | 850000 | 838504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 3/15/30 | 185000 | 170697 |
|  Kellanova |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 11/15/27 | 650000 | 642120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 5/15/28 | 500000 | 503806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/1/33 | 180000 | 186233 |
|  McCormick & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 8/15/27 | 750000 | 741404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.850%, 2/15/31 | 165000 | 144335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 4/15/33 | 290000 | 294511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 10/15/34 | 165000 | 161832 |
|  Mondelez International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 3/17/27 | 400000 | 391932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 4/13/30 | 835000 | 783131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/17/32 | 400000 | 366551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 8/28/34 | 125000 | 124704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 5/6/35 | 500000 | 509634 |
|  Tyson Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 6/2/27 | 975000 | 964999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 3/1/29 | 325000 | 325194 |
|  Unilever Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/22/28 | 1000000 | 989987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 9/8/28 | 200000 | 205429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 9/6/29 | 500000 | 465342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 9/14/30 | 210000 | 185104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 8/12/31 | 345000 | 302453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 8/12/34 | 220000 | 221165 |
|  |  | 18435286 |
|  ***Household Products (0.2%)*** |  |  |
|  Church & Dwight Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 12/15/31 | 210000 | 185942 |
|  Clorox Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 10/1/27 | 500000 | 490868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 5/15/28 | 500000 | 497507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 5/1/29 | 500000 | 504584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 5/15/30 | 140000 | 125467 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 5/1/32 | 500000 | 505041 |
|  Colgate-Palmolive Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 8/15/27 | 250000 | 246948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 3/1/28(x) | 355000 | 361037 |
|  Kimberly-Clark Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.050%, 9/15/27 | 250000 | 237294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 11/1/28 | 375000 | 374871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 4/25/29 | 750000 | 731189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/2/31 | 750000 | 668915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/16/33 | 100000 | 101302 |
|  Procter & Gamble Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 11/3/26 | 500000 | 492648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 2/1/27 | 600000 | 585226 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 8/11/27(x) | 1000000 | 983411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 1/26/28 | 250000 | 251306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 10/29/30 | 500000 | 437291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 4/23/31 | 1000000 | 899144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 2/1/32 | 600000 | 545431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 1/26/33(x) | 250000 | 249737 |
|  |  | 9475159 |
|  ***Personal Care Products (0.1%)*** |  |  |
|  Estee Lauder Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 3/15/27 | 500000 | 494040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/15/28 | 225000 | 226631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 3/15/31(x) | 585000 | 516474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 5/15/33 | 250000 | 250210 |
|  Haleon US Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 3/24/27 | 550000 | 544247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 3/24/29 | 500000 | 486768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 3/24/32 | 610000 | 578244 |
|  |  | 3096614 |
|  ***Tobacco (0.3%)*** |  |  |
|  Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 5/6/30 | 2240000 | 2151226 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/1/33 | 1000000 | 1128882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 8/6/35 | 250000 | 252175 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.259%, 3/25/28 | $350000 | $334287 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.462%, 9/6/29 | 750000 | 725895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.906%, 4/2/30 | 1500000 | 1528064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.343%, 8/2/30 | 500000 | 539069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.742%, 3/16/32 | 500000 | 502043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 10/19/32 | 110000 | 128254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.421%, 8/2/33 | 500000 | 548490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 8/15/35(x) | 1000000 | 1036750 |
|  BAT International Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.448%, 3/16/28 | 500000 | 502657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.931%, 2/2/29 | 390000 | 409227 |
|  Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 8/17/27 | 1000000 | 984293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 2/15/28 | 1500000 | 1527066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 9/7/28 | 500000 | 515578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 2/15/30 | 1500000 | 1548895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 5/1/30 | 120000 | 109309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 11/1/30 | 300000 | 265270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 2/15/33 | 1500000 | 1563814 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 9/7/33 | 500000 | 529351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 11/1/34 | 500000 | 502997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 4/30/35(x) | 375000 | 375241 |
|  |  | 17708833 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 91476573 |
|  **Energy (1.8%)** |  |  |
|  ***Energy Equipment & Services (0.1%)*** |  |  |
|  Baker Hughes Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.061%, 12/15/26 | 500000 | 488343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.337%, 12/15/27 | 1250000 | 1232029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.138%, 11/7/29 | 215000 | 206790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.486%, 5/1/30 | 145000 | 146230 |
|  Halliburton Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.920%, 3/1/30(x) | 2000000 | 1883077 |
|  Helmerich & Payne, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 9/29/31(x) | 105000 | 92807 |
|  |  | 4049276 |
|  ***Oil, Gas & Consumable Fuels (1.7%)*** |  |  |
|  Boardwalk Pipelines LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 5/3/29 | 415000 | 420367 |
|  BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.234%, 11/6/28 | 1250000 | 1255443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.970%, 10/17/29 | 500000 | 515396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.749%, 8/10/30 | 3300000 | 2938390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.721%, 1/12/32 | 625000 | 565817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.812%, 2/13/33 | 215000 | 217383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.893%, 9/11/33 | 1000000 | 1014496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.227%, 11/17/34 | 1000000 | 1032574 |
|  BP Capital Markets plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.279%, 9/19/27 | 1250000 | 1234265 |
|  Canadian Natural Resources Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 6/1/27 | 1300000 | 1292279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 7/15/30 | 350000 | 327709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 12/15/34§ | 250000 | 253098 |
|  Cheniere Corpus Christi Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 6/30/27 | 2500000 | 2527725 |
|  Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 6/30/33 | 925000 | 976871 |
|  Chevron Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.995%, 5/11/27 | 250000 | 243008 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.236%, 5/11/30 | 1325000 | 1227345 |
|  Chevron USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.018%, 8/12/27 | 310000 | 294821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.819%, 4/15/32 | 500000 | 513384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/15/32 | 1000000 | 1006021 |
|  CNOOC Finance 2013 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 9/30/29 | 600000 | 576012 |
|  CNOOC Finance 2015 USA LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/2/28 | 200000 | 202080 |
|  Coterra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/15/29 | 350000 | 348718 |
|  Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 9/15/34(x) | 1000000 | 993264 |
|  Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 12/1/26 | 765000 | 756952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 1/30/30 | 375000 | 385930 |
|  Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.600%, 10/4/26(x) | 270000 | 263227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/1/26 | 500000 | 500115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 11/15/29 | 750000 | 714343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 3/8/33 | 275000 | 288945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 6/20/35 | 335000 | 344860 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.97%), 7.200%, 6/27/54(k)(x) | 2000000 | 2117500 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.43%), 8.500%, 1/15/84(k) | 355000 | 405524 |
|  Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 5/15/28 | 300000 | 305031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 6/15/28 | 375000 | 381049 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 4/15/29(x) | 1000000 | 1027963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 9/15/29 | 750000 | 743784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 12/1/30 | 460000 | 498602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.550%, 12/1/33 | 1500000 | 1639578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 5/15/34 | 1000000 | 1025143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 9/1/34 | 1000000 | 1023466 |
|  Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 10/16/28 | 600000 | 601257 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 7/31/29 | 750000 | 722149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 1/31/30 | 755000 | 712862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 1/31/33 | 500000 | 521573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 1/31/34 | 1000000 | 1005718 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 2.83%), 5.375%, 2/15/78(k) | 500000 | 495414 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series E (CME Term SOFR 3 Month + 3.29%), 5.250%, 8/16/77(k) | 750000 | 748016 |
|  EOG Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/15/32 | 500000 | 510519 |
|  EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 4/1/28 | 375000 | 387282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 2/1/34 | 2000000 | 2090322 |
|  Equinor ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/10/28 | 600000 | 594114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/22/30 | 375000 | 347231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 6/3/35 | 500000 | 514254 |
|  HF Sinclair Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 1/15/35 | 750000 | 782237 |
|  Kinder Morgan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 11/15/26 | 1715000 | 1670473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 3/1/28 | 1250000 | 1255524 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 8/1/29 | $235000 | $241277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 2/1/34 | 2000000 | 2058522 |
|  Marathon Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 4/1/28 | 300000 | 296683 |
|  MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/1/27 | 2085000 | 2082810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 8/15/30 | 455000 | 417926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/15/33 | 750000 | 747176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 9/15/35 | 1000000 | 999282 |
|  Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 8/1/29 | 320000 | 324444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 1/1/32 | 2000000 | 2032579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 10/1/34(x) | 1000000 | 1015122 |
|  ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 11/1/26 | 290000 | 293207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/13/27 | 225000 | 224223 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 11/1/28 | 190000 | 197141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 3/15/29 | 500000 | 497615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 9/1/29 | 500000 | 481654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 3/15/30 | 350000 | 330345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/1/30 | 250000 | 235856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 11/1/30 | 310000 | 326541 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 10/15/32 | 250000 | 249113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 11/1/34 | 2000000 | 1969037 |
|  Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 5/15/28 | 420000 | 432375 |
|  Phillips 66 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 3/15/28 | 500000 | 496860 |
|  Phillips 66 Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 10/1/26 | 300000 | 298168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 12/1/27 | 500000 | 508192 |
|  Pioneer Natural Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 8/15/30 | 1000000 | 897104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 1/15/31 | 260000 | 233558 |
|  Plains All American Pipeline LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/15/26 | 500000 | 500648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 12/15/29 | 2500000 | 2415722 |
|  Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/15/27 | 500000 | 503232 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/15/30 | 1225000 | 1229058 |
|  Shell Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 4/6/30 | 415000 | 391796 |
|  South Bow USA Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.584%, 10/1/34 | 1000000 | 1004923 |
|  Spectra Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 10/15/26 | 315000 | 311972 |
|  Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 7/1/27 | 1040000 | 1056875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 3/30/34 | 2000000 | 2174361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 8/15/35 | 1000000 | 1018188 |
|  TC PipeLines LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 5/25/27 | 200000 | 198864 |
|  TotalEnergies Capital International SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.455%, 2/19/29 | 750000 | 736315 |
|  TotalEnergies Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.883%, 10/11/28 | 250000 | 248953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.724%, 9/10/34 | 250000 | 251314 |
|  TransCanada PipeLines Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/28 | 1750000 | 1749455 |
|  Transcontinental Gas Pipe Line Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/15/28 | 500000 | 498708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 5/15/30 | 250000 | 238085 |
|  Valero Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 9/15/27 | 750000 | 721959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 6/1/28 | 240000 | 240814 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/1/29 | 765000 | 755699 |
|  Valero Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 3/15/28 | 500000 | 503564 |
|  Viper Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 8/1/35 | 1000000 | 1015470 |
|  Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 1/15/29 | 415000 | 437904 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 4/1/33 | 415000 | 438693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 11/15/34 | 1000000 | 1001197 |
|  Williams Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 6/15/27 | 500000 | 496628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 8/15/28 | 500000 | 515720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 3/15/31 | 1165000 | 1055792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 8/15/32 | 750000 | 746808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 3/15/33 | 500000 | 524842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/15/34 | 750000 | 761173 |
|  |  | 86988965 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 91038241 |
|  **Financials (12.6%)** |  |  |
|  ***Banks (7.1%)*** |  |  |
|  Banco Bilbao Vizcaya Argentaria SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.70%), 6.138%, 9/14/28(k) | 600000 | 620297 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.30%), 7.883%, 11/15/34(k) | 500000 | 580154 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.95%), 6.033%, 3/13/35(k) | 1000000 | 1060835 |
|  Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 4/11/27 | 1000000 | 1001161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.294%, 8/18/27 | 435000 | 443340 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.00%), 4.175%, 3/24/28(k) | 200000 | 199702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.379%, 4/12/28 | 1200000 | 1202775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.588%, 8/8/28 | 500000 | 519408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.306%, 6/27/29 | 800000 | 773305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.490%, 5/28/30 | 200000 | 192238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.749%, 12/3/30 | 1745000 | 1582719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.958%, 3/25/31 | 480000 | 444605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.439%, 7/15/31 | 500000 | 524957 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.60%), 3.225%, 11/22/32(k) | 600000 | 546208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.921%, 8/8/33 | 295000 | 328132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.938%, 11/7/33 | 1250000 | 1430745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 3/14/34 | 600000 | 643494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.033%, 1/17/35 | 325000 | 348537 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.84%), 3.824%, 1/20/28(k) | $1000000 | $994736 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.05%), 2.551%, 2/4/28(k) | 800000 | 783552 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.77%), 3.705%, 4/24/28(k) | 1500000 | 1490085 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.58%), 4.376%, 4/27/28(k) | 1250000 | 1253796 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.30%), 3.419%, 12/20/28(k) | 4450000 | 4374270 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.33%), 3.970%, 3/5/29(k) | 2000000 | 1988375 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.63%), 5.202%, 4/25/29(k) | 1000000 | 1024562 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.06%), 2.087%, 6/14/29(k) | 2150000 | 2034937 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.57%), 4.271%, 7/23/29(k) | 2250000 | 2256979 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.57%), 5.819%, 9/15/29(k) | 1000000 | 1045098 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.44%), 3.194%, 7/23/30(k) | 1300000 | 1252980 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.25%), 2.496%, 2/13/31(k) | 2500000 | 2310036 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.53%), 1.898%, 7/23/31(k) | 1000000 | 891786 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.37%), 1.922%, 10/24/31(k) | 1500000 | 1330369 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.32%), 2.687%, 4/22/32(k) | 2000000 | 1816994 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.22%), 2.299%, 7/21/32(k) | 1500000 | 1326667 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.21%), 2.572%, 10/20/32(k) | 1350000 | 1209566 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.33%), 2.972%, 2/4/33(k) | 490000 | 445017 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.83%), 4.571%, 4/27/33(k) | 1000000 | 997415 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.16%), 5.015%, 7/22/33(k) | 1000000 | 1021259 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.91%), 5.288%, 4/25/34(k) | 1000000 | 1035292 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.84%), 5.872%, 9/15/34(k) | 1750000 | 1871720 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.65%), 5.468%, 1/23/35(k) | 2000000 | 2083368 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.91%), 5.425%, 8/15/35(k) | 500000 | 509529 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.74%), 5.518%, 10/25/35(k) | 500000 | 512130 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.31%), 5.511%, 1/24/36(k) | 375000 | 391307 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.70%), 5.744%, 2/12/36(k) | 675000 | 701862 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.64%), 5.464%, 5/9/36(k) | 500000 | 521684 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.20%), 2.482%, 9/21/36(k) | 1750000 | 1518693 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.00%), 3.846%, 3/8/37(k) | 1400000 | 1305686 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series N |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.22%), 2.651%, 3/11/32(k) | 500000 | 454742 |
|  Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 3/8/27 | 265000 | 259943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.203%, 2/1/28 | 500000 | 512449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.717%, 9/25/28 | 500000 | 522145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.511%, 6/4/31(x) | 500000 | 526156 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.08%), 4.350%, 9/22/31(k)(x) | 600000 | 596903 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.40%), 3.088%, 1/10/37(k) | 750000 | 666366 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series H |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 9/14/27 | 500000 | 505782 |
|  Bank of Nova Scotia (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 2/2/27 | 175000 | 170368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.951%, 3/11/27 | 500000 | 492687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/12/28 | 200000 | 206147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 8/1/29 | 295000 | 307945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 2/1/30 | 125000 | 127814 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 8/1/31 | 500000 | 442579 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.09%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.338%, 9/15/31(k) | 500000 | 496410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 2/2/32(x) | 250000 | 221769 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.61%), 3.625%, 10/27/81(k) | 2250000 | 2132595 |
|  BankUnited, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 6/11/30 | 750000 | 750000 |
|  Barclays plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.05%), 2.279%, 11/24/27(k) | 735000 | 718606 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.65%), 5.501%, 8/9/28(k) | 690000 | 704255 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.34%), 4.837%, 9/10/28(k) | 305000 | 308182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.972%, 5/16/29 | 1000000 | 1015260 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.08%), 4.476%, 11/11/29(k) | 1000000 | 1001859 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.74%), 5.690%, 3/12/30(k) | 2000000 | 2079093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.088%, 6/20/30 | 2000000 | 2021624 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.56%), 4.942%, 9/10/30(k) | 285000 | 289264 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.23%), 5.367%, 2/25/31(k) | 1000000 | 1030191 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 2.667%, 3/10/32(k) | $1000000 | $903394 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.894%, 11/24/32(k) | 675000 | 607856 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.98%), 6.224%, 5/9/34(k) | 450000 | 483405 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.57%), 7.119%, 6/27/34(k) | 935000 | 1045306 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.62%), 6.692%, 9/13/34(k) | 1350000 | 1491234 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.91%), 5.335%, 9/10/35(k) | 460000 | 466326 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.59%), 5.785%, 2/25/36(k) | 1250000 | 1302889 |
|  BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 12/2/26 | 500000 | 495639 |
|  Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.926%, 10/2/26 | 500000 | 509320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 4/7/27(x) | 225000 | 223094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.001%, 4/28/28 | 500000 | 510931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.986%, 10/3/28 | 500000 | 526027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.260%, 4/8/29(x) | 500000 | 517264 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.34%), 4.631%, 9/11/30(k)(x) | 160000 | 161786 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.17%), 4.580%, 9/8/31(k) | 1000000 | 1002002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 4/7/32(x) | 225000 | 212988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.092%, 10/3/33 | 250000 | 272353 |
|  Capital One NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 9/13/28 | 625000 | 632543 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 2/6/30 | 250000 | 233943 |
|  Citibank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.803%, 9/29/28 | 1000000 | 1048782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.914%, 5/29/30 | 715000 | 733719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.570%, 4/30/34 | 1500000 | 1579210 |
|  Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 9/29/27 | 1250000 | 1255203 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.28%), 3.070%, 2/24/28(k) | 1000000 | 984799 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.89%), 4.658%, 5/24/28(k) | 715000 | 720608 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.41%), 3.520%, 10/27/28(k) | 2500000 | 2464676 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.45%), 4.075%, 4/23/29(k)(x) | 2000000 | 1993369 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.60%), 3.980%, 3/20/30(k)(x) | 1750000 | 1729408 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), 2.976%, 11/5/30(k)(x) | 1250000 | 1182089 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.15%), 2.666%, 1/29/31(k) | 1500000 | 1393425 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.11%), 2.572%, 6/3/31(k) | 2000000 | 1840891 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.17%), 4.503%, 9/11/31(k) | 1000000 | 999955 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.17%), 2.561%, 5/1/32(k) | 835000 | 751651 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.18%), 2.520%, 11/3/32(k) | 895000 | 794033 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.35%), 3.057%, 1/25/33(k) | 800000 | 727414 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.94%), 3.785%, 3/17/33(k) | 1500000 | 1428069 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.09%), 4.910%, 5/24/33(k) | 500000 | 505195 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.66%), 6.174%, 5/25/34(k) | 715000 | 759192 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.28%), 5.592%, 11/19/34(k) | 3000000 | 3065600 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.06%), 5.827%, 2/13/35(k) | 3000000 | 3102967 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.45%), 5.449%, 6/11/35(k) | 1000000 | 1033431 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.83%), 6.020%, 1/24/36(k) | 320000 | 334808 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.47%), 5.333%, 3/27/36(k) | 750000 | 768234 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.49%), 5.174%, 9/11/36(k) | 415000 | 418540 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.73%), 5.411%, 9/19/39(k) | 500000 | 499777 |
|  Citizens Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.00%), 4.575%, 8/9/28(k) | 500000 | 502420 |
|  Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/6/30 | 150000 | 137692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 4/30/30 | 470000 | 444639 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.91%), 5.718%, 7/23/32(k) | 300000 | 312628 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.75%), 5.641%, 5/21/37(k)(x) | 500000 | 505055 |
|  Comerica Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.61%), 5.332%, 8/25/33(k) | 250000 | 249501 |
|  Comerica, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/1/29 | 450000 | 444300 |
|  Commonwealth Bank of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 10/1/30 | 250000 | 249800 |
|  Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.494%, 10/17/29 | 1200000 | 1219134 |
|  Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.69%), 1.707%, 11/1/27(k) | 310000 | 301385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 3/14/28 | 750000 | 746333 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.36%), 4.055%, 4/25/28(k) | 290000 | 288807 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.34%), 6.339%, 7/27/29(k) | 105000 | 110508 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 2.13%), 4.772%, 7/28/30(k) | 500000 | 505255 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.66%), 4.337%, 4/25/33(k) | 250000 | 243451 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Fifth Third Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 2/1/27 | $300000 | $292491 |
|  First Citizens BancShares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.97%), 6.254%, 3/12/40(k) | 500000 | 505598 |
|  HSBC Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.81%), 4.041%, 3/13/28(k) | 1250000 | 1246191 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.11%), 4.755%, 6/9/28(k) | 1000000 | 1008248 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.61%), 5.210%, 8/11/28(k) | 495000 | 503391 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.97%), 6.161%, 3/9/29(k) | 380000 | 396098 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.80%), 4.583%, 6/19/29(k) | 1120000 | 1127775 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.29%), 2.206%, 8/17/29(k) | 450000 | 424610 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.87%), 3.973%, 5/22/30(k) | 1165000 | 1147048 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.29%), 5.286%, 11/19/30(k)(x) | 2000000 | 2063967 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.39%), 2.848%, 6/4/31(k) | 5715000 | 5316082 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.52%), 5.733%, 5/17/32(k) | 370000 | 389076 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.19%), 2.804%, 5/24/32(k) | 595000 | 539316 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.41%), 2.871%, 11/22/32(k) | 790000 | 711304 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.53%), 4.762%, 3/29/33(k) | 420000 | 417130 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.87%), 5.402%, 8/11/33(k) | 490000 | 507156 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.39%), 6.254%, 3/9/34(k) | 750000 | 815758 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.98%), 6.547%, 6/20/34(k) | 1000000 | 1078324 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.02%), 7.399%, 11/13/34(k) | 1000000 | 1136580 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.78%), 5.719%, 3/4/35(k) | 750000 | 791143 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.90%), 5.874%, 11/18/35(k) | 2000000 | 2062665 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.56%), 5.450%, 3/3/36(k) | 460000 | 472859 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.88%), 5.790%, 5/13/36(k) | 500000 | 527021 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.96%), 5.741%, 9/10/36(k) | 305000 | 311320 |
|  Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.97%), 4.443%, 8/4/28(k) | 250000 | 250982 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.02%), 6.208%, 8/21/29(k) | 500000 | 525479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 2/4/30 | 500000 | 462862 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.28%), 5.272%, 1/15/31(k) | 1000000 | 1029049 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.05%), 5.023%, 5/17/33(k) | 420000 | 422255 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.17%), 2.487%, 8/15/36(k) | 500000 | 426935 |
|  Huntington National Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.65%), 4.552%, 5/17/28(k) | 250000 | 251358 |
|  Industrial & Commercial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of China Ltd. 3.538%, 11/8/27 | 500000 | 495910 |
|  ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 3/29/27 | 1250000 | 1245301 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.83%), 4.017%, 3/28/28(k) | 500000 | 498511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 4/9/29 | 560000 | 555289 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.44%), 5.335%, 3/19/30(k) | 1000000 | 1031364 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.32%), 2.727%, 4/1/32(k) | 265000 | 242332 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.09%), 6.114%, 9/11/34(k) | 315000 | 339991 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.77%), 5.550%, 3/19/35(k) | 750000 | 778603 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.61%), 5.525%, 3/25/36(k) | 425000 | 440190 |
|  JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.17%), 2.947%, 2/24/28(k) | 300000 | 295262 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.56%), 4.323%, 4/26/28(k) | 1000000 | 1002583 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.64%), 3.540%, 5/1/28(k) | 2750000 | 2724523 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.89%), 2.182%, 6/1/28(k) | 1750000 | 1695750 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.21%), 3.509%, 1/23/29(k) | 4750000 | 4686449 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.38%), 4.005%, 4/23/29(k) | 1500000 | 1495024 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.02%), 2.069%, 6/1/29(k) | 1110000 | 1052426 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.52%), 4.203%, 7/23/29(k) | 1500000 | 1503011 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.45%), 5.299%, 7/24/29(k) | 1250000 | 1287763 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.57%), 6.087%, 10/23/29(k) | 865000 | 911735 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.59%), 4.452%, 12/5/29(k) | 1000000 | 1007070 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.16%), 5.581%, 4/22/30(k) | 2435000 | 2542647 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.42%), 3.702%, 5/6/30(k) | 625000 | 613587 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.75%), 4.565%, 6/14/30(k) | 555000 | 560223 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.13%), 4.995%, 7/22/30(k) | 500000 | 512803 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.51%), 2.739%, 10/15/30(k) | 1735000 | 1635218 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 2.52%), 2.956%, 5/13/31(k) | $815000 | $764392 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.11%), 1.764%, 11/19/31(k) | 1250000 | 1102623 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.07%), 1.953%, 2/4/32(k) | 750000 | 662109 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.25%), 2.580%, 4/22/32(k) | 1155000 | 1047009 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.18%), 2.545%, 11/8/32(k) | 2750000 | 2460485 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), 2.963%, 1/25/33(k) | 700000 | 639742 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.80%), 4.586%, 4/26/33(k) | 835000 | 834950 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.58%), 5.717%, 9/14/33(k) | 960000 | 1015418 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.85%), 5.350%, 6/1/34(k) | 965000 | 1002063 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.81%), 6.254%, 10/23/34(k) | 800000 | 881109 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.62%), 5.336%, 1/23/35(k) | 4000000 | 4152088 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.49%), 5.766%, 4/22/35(k) | 2000000 | 2131433 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.46%), 5.294%, 7/22/35(k) | 2000000 | 2066454 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.34%), 4.946%, 10/22/35(k) | 375000 | 377698 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.32%), 5.502%, 1/24/36(k) | 665000 | 694375 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.64%), 5.576%, 7/23/36(k) | 1215000 | 1260305 |
|  KeyBank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.390%, 12/14/27 | 100000 | 100390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 8/8/32 | 500000 | 495498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/26/33 | 500000 | 502771 |
|  KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 4/6/27 | 750000 | 728548 |
|  Korea Development Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 4/25/27 | 500000 | 480975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 2/15/28 | 525000 | 530329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 9/16/30 | 358000 | 354531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 1/19/31 | 500000 | 443650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/25/31 | 500000 | 445400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 9/8/32 | 500000 | 501585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 10/23/33 | 400000 | 432748 |
|  Kreditanstalt fuer Wiederaufbau |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/1/27 | 5000000 | 5043276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/20/27 | 1575000 | 1557855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/28/27 | 1000000 | 1005302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 2/15/28 | 1420000 | 1422480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 4/3/28 | 1750000 | 1717983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 5/15/28 | 1000000 | 1005272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/15/28 | 735000 | 738985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 8/9/28 | 715000 | 712299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/15/29 | 5000000 | 5048166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 9/14/29 | 525000 | 486570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 3/18/30 | 1000000 | 1036061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 9/30/30 | 400000 | 345243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 7/15/33 | 1200000 | 1203035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 2/28/34 | 1500000 | 1530538 |
|  Landwirtschaftliche Rentenbank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/17/29 | 450000 | 462948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 9/3/30(x) | 750000 | 652353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/24/33 | 750000 | 791397 |
|  Lloyds Banking Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 1/11/27 | 1385000 | 1378959 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.80%), 3.750%, 3/18/28(k) | 400000 | 397102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/22/28 | 1350000 | 1354508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 8/16/28 | 850000 | 858331 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.70%), 5.871%, 3/6/29(k) | 500000 | 518617 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.75%), 5.679%, 1/5/35(k) | 1000000 | 1046420 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.60%), 6.068%, 6/13/36(k) | 1210000 | 1271726 |
|  M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.78%), 4.553%, 8/16/28(k) | 335000 | 336869 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.26%), 6.082%, 3/13/32(k) | 1000000 | 1061732 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.43%), 5.400%, 7/30/35(k) | 115000 | 115877 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.61%), 5.385%, 1/16/36(k) | 125000 | 126758 |
|  Manufacturers & Traders Trust Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 8/17/27 | 330000 | 323464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 1/27/28 | 500000 | 506512 |
|  Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.677%, 2/22/27 | 1000000 | 995506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.287%, 7/25/27 | 1000000 | 987403 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.67%), 1.640%, 10/13/27(k) | 1500000 | 1460350 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.83%), 2.341%, 1/19/28(k) | 600000 | 585403 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.95%), 5.017%, 7/20/28(k) | 400000 | 405933 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.90%), 5.354%, 9/13/28(k) | 400000 | 408990 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.38%), 5.422%, 2/22/29(k) | $205000 | $210579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.741%, 3/7/29 | 750000 | 739687 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.70%), 5.242%, 4/19/29(k) | 215000 | 220460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.195%, 7/18/29 | 1000000 | 965411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.559%, 2/25/30 | 1000000 | 929715 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.82%), 5.258%, 4/17/30(k) | 500000 | 515415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.048%, 7/17/30 | 460000 | 415757 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 2.852%, 1/19/33(k) | 500000 | 451739 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.13%), 5.133%, 7/20/33(k) | 400000 | 411459 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.13%), 5.472%, 9/13/33(k) | 600000 | 628049 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.63%), 5.441%, 2/22/34(k) | 200000 | 209078 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.97%), 5.406%, 4/19/34(k)(x) | 290000 | 303330 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 5.426%, 4/17/35(k) | 1000000 | 1040163 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 0.93%), 5.188%, 9/12/36(k) | 200000 | 203094 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 8NC7 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.53%), 5.475%, 2/22/31(k) | 205000 | 213705 |
|  Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.50%), 5.667%, 5/27/29(k) | 500000 | 518466 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.53%), 4.254%, 9/11/29(k) | 1000000 | 999528 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.25%), 3.261%, 5/22/30(k) | 500000 | 482149 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.08%), 5.382%, 7/10/30(k) | 300000 | 310414 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.39%), 3.153%, 7/16/30(k) | 750000 | 719079 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.65%), 5.739%, 5/27/31(k) | 500000 | 526802 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.77%), 2.201%, 7/10/31(k) | 500000 | 451102 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.53%), 1.979%, 9/8/31(k) | 300000 | 267292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.564%, 9/13/31 | 310000 | 274190 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.90%), 2.260%, 7/9/32(k) | 750000 | 658421 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 5.594%, 7/10/35(k) | 1000000 | 1045598 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.07%), 5.323%, 7/8/36(k) | 500000 | 512475 |
|  Morgan Stanley Private Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.08%), 4.734%, 7/18/31(k) | 2500000 | 2537971 |
|  National Australia Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.905%, 6/9/27 | 500000 | 499765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.944%, 1/12/28 | 300000 | 306338 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 6/13/28 | 500000 | 511539 |
|  NatWest Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.55%), 3.073%, 5/22/28(k) | 295000 | 289684 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.27%), 5.516%, 9/30/28(k) | 200000 | 204915 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.95%), 5.808%, 9/13/29(k) | 730000 | 761245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.445%, 5/8/30 | 750000 | 751113 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.10%), 6.016%, 3/2/34(k) | $200000 | $214429 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.50%), 5.778%, 3/1/35(k) | 1000000 | 1052612 |
|  Oesterreichische Kontrollbank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/9/27 | 409000 | 408195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 3/1/28 | 545000 | 549957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 1/18/29 | 1000000 | 1011483 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 9/10/30 | 1500000 | 1496623 |
|  PNC Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 10/25/27 | 500000 | 491150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 10/22/29 | 395000 | 371265 |
|  PNC Financial Services Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 5/19/27 | 750000 | 739645 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.73%), 6.615%, 10/20/27(k) | 355000 | 363658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 4/23/29 | 750000 | 733816 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.84%), 5.582%, 6/12/29(k) | 440000 | 455368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 1/22/30 | 750000 | 700824 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.20%), 5.492%, 5/14/30(k) | 250000 | 260059 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.98%), 2.307%, 4/23/32(k) | 1000000 | 891355 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.85%), 4.626%, 6/6/33(k) | 500000 | 493767 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.93%), 5.068%, 1/24/34(k) | 210000 | 214132 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.95%), 5.939%, 8/18/34(k) | 750000 | 803676 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.28%), 6.875%, 10/20/34(k) | 400000 | 453578 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.90%), 5.676%, 1/22/35(k) | 1000000 | 1054097 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.60%), 5.401%, 7/23/35(k) | 2000000 | 2067174 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.39%), 5.575%, 1/29/36(k) | 125000 | 130251 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), 5.373%, 7/21/36(k) | 275000 | 282661 |
|  Regions Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 8/12/28(x) | 500000 | 467675 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.49%), 5.722%, 6/6/30(k) | 180000 | 187611 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.06%), 5.502%, 9/6/35(k)(x) | 165000 | 169270 |
|  Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.400%, 11/2/26(x) | 500000 | 486602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 1/21/27(x) | 500000 | 487936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5/4/27 | 500000 | 497696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.240%, 8/3/27 | 500000 | 502915 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.72%), 4.510%, 10/18/27(k) | 320000 | 321032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 1/12/28 | 500000 | 509105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 8/1/28 | 500000 | 515367 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.86%), 4.522%, 10/18/28(k) | 320000 | 322682 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.10%), 4.969%, 8/2/30(k) | 280000 | 286814 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.08%), 4.650%, 10/18/30(k) | 400000 | 404762 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.06%), 4.696%, 8/6/31(k) | 415000 | 420660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 11/3/31(x) | 500000 | 447167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/2/33(x) | 500000 | 515405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 2/1/34(x) | 3000000 | 3116937 |
|  Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 7/13/27 | 485000 | 485927 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.25%), 2.490%, 1/6/28(k) | 260000 | 253644 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.36%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.499%, 3/9/29(k) | 125000 | 130338 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.70%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.565%, 6/12/29(k) | 500000 | 523905 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.94%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.353%, 9/6/30(k) | 1000000 | 1019589 |
|  Santander UK Group Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.22%), 2.469%, 1/11/28(k) | 500000 | 488316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.823%, 11/3/28 | 750000 | 742195 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.60%), 6.534%, 1/10/29(k) | 235000 | 245770 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.48%), 2.896%, 3/15/32(k) | 500000 | 456576 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.58%), 5.136%, 9/22/36(k) | 440000 | 435163 |
|  Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.010%, 10/19/26 | 1000000 | 989814 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.174%, 1/14/27 | 220000 | 214462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.364%, 7/12/27(x) | 750000 | 741850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.352%, 10/18/27 | 750000 | 740063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 7/13/28 | 500000 | 521828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.306%, 10/16/28 | 750000 | 754939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.472%, 1/14/29 | 500000 | 474143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.040%, 7/16/29 | 1000000 | 955633 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.724%, 9/27/29 | 350000 | 329854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.710%, 1/13/30 | 320000 | 337021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 1/15/30 | 400000 | 375258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.130%, 7/8/30 | 750000 | 677387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.852%, 7/13/30 | 500000 | 531149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.710%, 1/12/31 | 500000 | 436144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.222%, 9/17/31 | 1000000 | 881460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.766%, 1/13/33 | 1500000 | 1601377 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.776%, 7/13/33 | 500000 | 534710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.808%, 9/14/33 | 200000 | 214202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.632%, 1/15/35 | 1000000 | 1062448 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.50%), 5.246%, 7/8/36(k) | 750000 | 766623 |
|  Synovus Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 2/15/28 | 250000 | 254688 |
|  Toronto-Dominion Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.264%, 12/11/26 | 260000 | 263740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 1/12/27 | 500000 | 487437 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 3/10/27 | $500000 | $491447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.108%, 6/8/27 | 500000 | 500434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.693%, 9/15/27 | 400000 | 404631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.523%, 7/17/28 | 400000 | 414443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 9/10/31 | 500000 | 443119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 1/12/32(x) | 500000 | 444154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 3/10/32 | 500000 | 463999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.456%, 6/8/32 | 265000 | 264227 |
|  Truist Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 10/30/26 | 300000 | 299110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 3/11/30 | 535000 | 486990 |
|  Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.37%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.123%, 6/6/28(k) | 315000 | 315071 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.44%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.873%, 1/26/29(k) | 205000 | 207882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3/19/29 | 750000 | 738640 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.86%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.887%, 6/7/29(k) | 375000 | 353005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 6/5/30 | 335000 | 301908 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.24%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.916%, 7/28/33(k) | 500000 | 497456 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.85%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.122%, 1/26/34(k) | 205000 | 207815 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.36%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.867%, 6/8/34(k) | 500000 | 529329 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.92%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.711%, 1/24/35(k) | 2000000 | 2095624 |
|  US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.73%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.215%, 1/27/28(k) | 400000 | 389389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 4/26/28 | 650000 | 649061 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.66%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.548%, 7/22/28(k) | 500000 | 503870 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.23%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.653%, 2/1/29(k) | 500000 | 505422 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.02%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.775%, 6/12/29(k) | 500000 | 520420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 7/22/30 | 600000 | 525441 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.25%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 7/23/30(k) | 415000 | 426710 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.02%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.677%, 1/27/33(k) | 400000 | 357678 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.11%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.967%, 7/22/33(k) | 350000 | 351011 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.60%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.839%, 2/1/34(k) | 500000 | 501297 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.26%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.836%, 6/12/34(k) | 750000 | 798710 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.86%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.678%, 1/23/35(k) | 2000000 | 2109479 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.41%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.424%, 2/12/36(k) | 190000 | 196169 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 0.95%), 2.491%, 11/3/36(k) | 1000000 | 859618 |
|  Webster Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 3/25/29 | 500000 | 487615 |
|  Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/23/26 | 1500000 | 1484848 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.51%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.526%, 3/24/28(k) | 710000 | 703004 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Month + 1.57%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.584%, 5/22/28(k) | 8035000 | 7962454 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.10%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.393%, 6/2/28(k) | 1010000 | 981686 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.98%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.808%, 7/25/28(k) | 665000 | 672661 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.74%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.574%, 7/25/29(k) | 435000 | 450864 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.88%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.078%, 9/15/29(k) | 980000 | 976360 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Month + 1.43%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.879%, 10/30/30(k) | 1250000 | 1182291 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Month + 1.26%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.572%, 2/11/31(k) | 2625000 | 2440131 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.50%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 4/23/31(k) | 835000 | 860782 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.50%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 3/2/33(k) | 2135000 | 1981051 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.10%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.897%, 7/25/33(k) | 625000 | 635231 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.02%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.389%, 4/24/34(k) | 325000 | 336591 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.99%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.557%, 7/25/34(k) | 600000 | 629052 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.06%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.491%, 10/23/34(k) | 1430000 | 1586363 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.78%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.499%, 1/23/35(k) | 2000000 | 2083174 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.38%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.211%, 12/3/35(k) | 285000 | 290472 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.74%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.605%, 4/23/36(k) | 665000 | 697178 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.34%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.892%, 9/15/36(k) | 1500000 | 1495030 |
|  Wells Fargo Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.254%, 12/11/26 | 600000 | 608683 |
|  Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 3/8/27 | 1250000 | 1240637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.043%, 8/26/27 | 1500000 | 1504750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.953%, 11/20/28 | 500000 | 470526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 4/16/29 | 500000 | 516334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 1/16/30 | 350000 | 330160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 6/3/31 | 500000 | 448964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.820%, 11/17/33 | 1250000 | 1399797 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.75%), 2.668%, 11/15/35(k) | 2000000 | 1791698 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 5.618%, 11/20/35(k) | 1400000 | 1442445 |
|  Wintrust Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 6/6/29 | 250000 | 247350 |
|  Zions Bancorp NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 10/29/29 | 500000 | 469297 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.83%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.816%, 11/19/35(k) | 250000 | 265812 |
|  |  | 363339927 |
|  ***Capital Markets (2.6%)*** |  |  |
|  Affiliated Managers Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 6/15/30 | 210000 | 198813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/20/34 | 250000 | 256107 |
|  Ameriprise Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/13/32 | 90000 | 90113 |
|  Apollo Debt Solutions BDC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 7/29/31 | 400000 | 423995 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Ares Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 1/15/27 | $110000 | $113298 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 6/15/27 | 500000 | 488224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 6/15/28 | 500000 | 477036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 7/15/29 | 315000 | 325424 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/1/30 | 250000 | 252954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 1/15/31 | 300000 | 297403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 11/15/31 | 500000 | 447631 |
|  Ares Strategic Income Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 8/15/29(x) | 500000 | 517967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 1/15/31§ | 750000 | 739860 |
|  Bain Capital Specialty Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 10/13/26 | 500000 | 489226 |
|  Bank of New York Mellon Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.050%, 10/15/26 | 1000000 | 971352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 1/26/27 | 400000 | 390699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 5/16/27 | 700000 | 692882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 4/28/28 | 850000 | 850261 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.15%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.992%, 6/13/28(k) | 500000 | 499621 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.17%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.543%, 2/1/29(k) | 250000 | 252381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 4/26/29 | 500000 | 497929 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.76%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.596%, 7/26/30(k) | 145000 | 147263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 1/28/31(x) | 500000 | 439452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 7/28/31 | 750000 | 656384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 1/26/32 | 200000 | 179350 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.23%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.060%, 7/22/32(k) | 300000 | 309058 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.289%, 6/13/33(k) | 500000 | 491786 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.85%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.474%, 10/25/34(k) | 1000000 | 1111206 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.188%, 3/14/35(k) | 1000000 | 1028298 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.35%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.316%, 6/6/36(k) | 140000 | 144235 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series J |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 1/25/29 | 500000 | 469010 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.61%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.967%, 4/26/34(k) | 350000 | 355575 |
|  Barings BDC, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 9/15/28 | 235000 | 233314 |
|  BGC Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 5/25/28 | 500000 | 534067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.600%, 6/10/29 | 185000 | 192488 |
|  BlackRock Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/14/34 | 1000000 | 1030132 |
|  BlackRock, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 3/15/27 | 347000 | 344064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 4/30/29 | 445000 | 434543 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/25/33 | 900000 | 919363 |
|  Blackstone Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 12/15/26 | 1000000 | 976224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 3/15/27 | 500000 | 489981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/15/29 | 250000 | 244115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 9/10/30 | 290000 | 286240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/22/34(x) | 500000 | 512375 |
|  Blackstone Secured Lending Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/15/27(x) | 500000 | 483520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 9/30/28 | 500000 | 473414 |
|  Blue Owl Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 6/11/28 | 750000 | 709834 |
|  Blue Owl Credit Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 2/8/27 | 300000 | 299517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.950%, 6/13/28 | 500000 | 535045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.600%, 9/15/29 | 185000 | 192737 |
|  Brookfield Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 1/25/28 | 500000 | 496333 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 4/15/30 | 2000000 | 1996491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.724%, 4/15/31 | 230000 | 209850 |
|  Carlyle Secured Lending, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 2/15/31 | 210000 | 208758 |
|  Cboe Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 1/12/27(x) | 650000 | 646358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/16/32 | 500000 | 459525 |
|  Charles Schwab Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 3/2/27 | 500000 | 494969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 3/3/27 | 210000 | 205750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 4/1/27 | 455000 | 450771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/20/28 | 1200000 | 1145965 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.21%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.643%, 5/19/29(k) | 500000 | 518675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 5/22/29 | 500000 | 485618 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.88%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.196%, 11/17/29(k) | 280000 | 296984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 5/13/31 | 750000 | 675680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 3/3/32 | 280000 | 254865 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.50%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.853%, 5/19/34(k) | 250000 | 267359 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.01%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.136%, 8/24/34(k) | 500000 | 544276 |
|  CI Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 12/17/30 | 565000 | 506140 |
|  CME Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 6/15/28 | 350000 | 349078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 3/15/32 | 355000 | 321900 |
|  Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.371%, 9/9/27(x) | 500000 | 512277 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.22%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.311%, 11/16/27(k) | 510000 | 498916 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.32%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.552%, 1/7/28(k) | 1000000 | 977478 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.18%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.720%, 1/18/29(k) | 150000 | 157423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.414%, 5/10/29 | 280000 | 291354 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.30%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 8/4/31(k) | 2000000 | 2016019 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.04%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.547%, 9/18/31(k) | 2355000 | 2234259 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.65%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.079%, 2/10/34(k) | 225000 | 246817 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.05%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.403%, 9/11/35(k)(x) | 220000 | 223838 |
|  Eaton Vance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/6/27 | 250000 | 248434 |
|  Franklin Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.600%, 10/30/30(x) | 600000 | 524184 |
|  FS KKR Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 1/15/27 | 500000 | 485274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 7/15/27 | 500000 | 483357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 10/12/28 | 300000 | 277897 |
|  Goldman Sachs BDC, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 9/9/30 | 160000 | 161066 |
|  Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/16/26 | 1815000 | 1802838 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.91%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.948%, 10/21/27(k) | 1060000 | 1034431 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.11%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.640%, 2/24/28(k) | $455000 | $445454 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.85%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.615%, 3/15/28(k) | 1000000 | 992277 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Month + 1.77%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.691%, 6/5/28(k) | 1000000 | 991811 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Month + 1.56%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.223%, 5/1/29(k) | 2000000 | 2000520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 2/7/30 | 6515000 | 6104509 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.27%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.727%, 4/25/30(k) | 300000 | 313818 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.21%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.049%, 7/23/30(k) | 345000 | 353364 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.09%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.992%, 1/27/32(k) | 570000 | 502494 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.28%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.615%, 4/22/32(k) | 1070000 | 970287 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.25%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.383%, 7/21/32(k) | 2140000 | 1909634 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 10/21/32(k) | 720000 | 648057 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.41%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.102%, 2/24/33(k) | 1000000 | 917537 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.95%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.561%, 10/24/34(k) | 3000000 | 3356879 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.55%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.851%, 4/25/35(k) | 1000000 | 1064633 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.55%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.330%, 7/23/35(k) | 1500000 | 1542782 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.016%, 10/23/35(k) | 1790000 | 1799158 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.38%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.536%, 1/28/36(k) | 525000 | 549447 |
|  Golub Capital BDC, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 2/15/27 | 500000 | 481553 |
|  Hercules Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 1/20/27 | 335000 | 328653 |
|  HPS Corporate Lending Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 9/30/29 | 500000 | 516183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 11/15/30§ | 500000 | 500060 |
|  Intercontinental Exchange, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/15/27 | 600000 | 599991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 9/21/28 | 535000 | 530487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 6/15/29 | 250000 | 251873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/15/31 | 275000 | 287489 |
|  Jefferies Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 1/15/27 | 665000 | 670744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 7/21/28 | 270000 | 281244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 10/15/31 | 1500000 | 1334332 |
|  Lazard Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/19/28 | 350000 | 351692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/11/29 | 500000 | 499154 |
|  LPL Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 3/15/35 | 500000 | 509133 |
|  Main Street Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 6/4/27 | 65000 | 66422 |
|  Moody's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 8/19/31(x) | 1250000 | 1096394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 8/8/32 | 250000 | 246975 |
|  Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 1/20/27 | 4000000 | 3984347 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.00%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.475%, 1/21/28(k) | 1035000 | 1012113 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.61%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.210%, 4/20/28(k) | 870000 | 871289 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.24%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.296%, 10/18/28(k) | 1000000 | 1041830 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Month + 1.40%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.772%, 1/24/29(k) | 1800000 | 1783050 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.73%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.123%, 2/1/29(k) | 500000 | 510462 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.59%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.164%, 4/20/29(k) | 765000 | 783594 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.63%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.449%, 7/20/29(k) | 430000 | 443996 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Month + 1.89%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.431%, 1/23/30(k) | 950000 | 955057 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.656%, 4/18/30(k) | 665000 | 694603 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.22%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.042%, 7/19/30(k) | 225000 | 230484 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.14%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.699%, 1/22/31(k) | 4140000 | 3864587 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.12%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.622%, 4/1/31(k) | 2000000 | 1940589 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.18%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.239%, 7/21/32(k) | 2000000 | 1764690 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.20%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.511%, 10/20/32(k) | 925000 | 823886 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.29%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.943%, 1/21/33(k) | 820000 | 749029 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.08%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.889%, 7/20/33(k) | 750000 | 760070 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.56%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.342%, 10/18/33(k) | 925000 | 1016941 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.87%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 4/21/34(k) | 910000 | 936434 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.88%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.424%, 7/21/34(k) | 560000 | 583026 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.73%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.466%, 1/18/35(k) | 2000000 | 2080412 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.58%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.831%, 4/19/35(k)(x) | 1500000 | 1592895 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.587%, 1/18/36(k) | 625000 | 653546 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.76%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.664%, 4/17/36(k) | 400000 | 421934 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.36%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.484%, 9/16/36(k) | 1250000 | 1086076 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.62%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.297%, 4/20/37(k) | 785000 | 795666 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.43%), 5.948%, 1/19/38(k) | 500000 | 521541 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.80%), 5.942%, 2/7/39(k) | 3000000 | 3127915 |
|  Morgan Stanley Direct Lending Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 5/17/29 | 115000 | 119093 |
|  Nasdaq, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 6/28/28 | 225000 | 231774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 1/15/31 | 750000 | 655573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 2/15/34 | 2000000 | 2098529 |
|  Nomura Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.329%, 1/22/27 | 500000 | 487746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.386%, 7/6/27 | 500000 | 509342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.842%, 1/18/28 | 200000 | 206737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.070%, 7/12/28 | 500000 | 523255 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.710%, 1/22/29 | $500000 | $474967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.103%, 1/16/30 | 750000 | 709816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.679%, 7/16/30 | 1000000 | 919915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.608%, 7/14/31 | 685000 | 614609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.999%, 1/22/32 | 500000 | 451565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.181%, 1/18/33 | 200000 | 216227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.087%, 7/12/33(x) | 500000 | 540116 |
|  North Haven Private Income Fund LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 9/25/28§ | 105000 | 104438 |
|  Northern Trust Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/10/27 | 335000 | 335787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 8/3/28 | 500000 | 496795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 5/3/29 | 500000 | 486789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 5/1/30 | 560000 | 509708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 5/8/32 | 468000 | 458986 |
|  Oaktree Specialty Lending Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 1/15/27 | 500000 | 484829 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.100%, 2/15/29 | 500000 | 517381 |
|  Oaktree Strategic Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 7/23/29 | 120000 | 124397 |
|  Raymond James Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 9/11/35 | 245000 | 242067 |
|  S&P Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 3/1/27 | 235000 | 230040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 3/1/29 | 500000 | 477684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 8/15/30 | 975000 | 850012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 3/1/32 | 350000 | 319928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 9/15/33 | 635000 | 664524 |
|  Sixth Street Lending Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 3/11/29 | 355000 | 369217 |
|  Sixth Street Specialty Lending, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 8/14/28 | 355000 | 374570 |
|  Stifel Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/15/30 | 500000 | 489039 |
|  UBS AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/9/27 | 500000 | 508418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 2/15/28 | 400000 | 430315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 9/11/28 | 500000 | 524558 |
|  |  | 132010821 |
|  ***Consumer Finance (1.6%)*** |  |  |
|  AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 10/29/26 | 795000 | 781295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 7/21/27 | 1000000 | 991276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/27 | 500000 | 503625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 1/23/28 | 500000 | 495879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 6/6/28 | 210000 | 217553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/29/28 | 390000 | 375497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/10/29 | 1500000 | 1511160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 9/30/30 | 365000 | 390697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/15/30 | 150000 | 149289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 9/10/34(x) | 335000 | 333666 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.72%), 6.950%, 3/10/55(k) | 2000000 | 2082926 |
|  Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/9/27 | 500000 | 502594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 11/2/28 | 250000 | 232123 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.26%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.992%, 6/13/29(k) | 625000 | 659392 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.78%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.548%, 7/31/33(k) | 500000 | 504027 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.29%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.184%, 7/26/35(k) | 1000000 | 1030619 |
|  American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 11/4/26(x) | 1460000 | 1423908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 3/4/27 | 335000 | 328290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 5/3/27 | 1150000 | 1138518 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.93%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.043%, 7/26/28(k) | 375000 | 381334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 5/3/29 | 335000 | 335640 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.28%), 5.282%, 7/27/29(k) | 500000 | 515593 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.09%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.532%, 4/25/30(k) | 500000 | 522360 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.94%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.489%, 10/30/31(k) | 335000 | 366863 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.26%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.989%, 5/26/33(k) | 265000 | 269753 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.22%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.918%, 7/20/33(k) | 1170000 | 1187567 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.84%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.043%, 5/1/34(k) | 750000 | 768789 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.284%, 7/26/35(k) | 1500000 | 1545557 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.32%), 5.442%, 1/30/36(k) | 185000 | 192074 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.79%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.667%, 4/25/36(k) | 135000 | 142777 |
|  American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.350%, 1/8/27 | 500000 | 489372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 7/9/27 | 290000 | 292193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 1/12/28 | 350000 | 354348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 7/7/28 | 500000 | 512441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 4/17/30 | 500000 | 504491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/4/30 | 500000 | 500894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 10/4/30 | 440000 | 468123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 1/13/31(x) | 350000 | 305690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 7/10/31 | 500000 | 512742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 7/9/32 | 350000 | 358123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 1/10/34 | 1000000 | 1006284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/5/35 | 500000 | 507200 |
|  Andrew W Mellon Foundation (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.947%, 8/1/27 | 300000 | 285028 |
|  Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 2/9/27 | 565000 | 564312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 3/9/27 | 1150000 | 1143298 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 5/11/27 | 500000 | 495973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 1/31/28 | 1000000 | 992128 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.06%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.927%, 5/10/28(k) | 500000 | 504796 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.64%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.312%, 6/8/29(k) | 335000 | 351403 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.79%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.273%, 3/1/30(k) | 500000 | 482138 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.60%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.247%, 7/26/30(k) | 500000 | 513870 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.56%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.463%, 7/26/30(k) | 200000 | 207051 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.07%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.624%, 10/30/31(k) | $715000 | $806969 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.34%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.359%, 7/29/32(k) | 1000000 | 860980 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.27%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.618%, 11/2/32(k) | 1000000 | 887988 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.37%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.268%, 5/10/33(k) | 500000 | 511486 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.60%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.817%, 2/1/34(k) | 500000 | 523705 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.86%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.377%, 6/8/34(k) | 335000 | 361537 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 3.37%), 7.964%, 11/2/34(k) | 1000000 | 1178728 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.04%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.183%, 1/30/36(k) | 200000 | 207513 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.63%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.197%, 9/11/36(k) | 280000 | 276672 |
|  Caterpillar Financial Services Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 1/8/27 | 355000 | 345411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 8/12/27 | 500000 | 497756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 11/15/29 | 2000000 | 2047096 |
|  Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 3/8/29 | 2000000 | 2031280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 3/5/31 | 3000000 | 3067680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.054%, 11/5/31 | 1000000 | 1021830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.122%, 11/7/33 | 2805000 | 2998545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 3/8/34 | 3000000 | 3013020 |
|  General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/6/26 | 750000 | 747933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 1/17/27 | 835000 | 835675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.350%, 2/26/27 | 500000 | 486893 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/9/27 | 450000 | 453905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 1/5/28 | 500000 | 495585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1/9/28 | 200000 | 206854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 4/10/28 | 600000 | 572487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 6/23/28 | 500000 | 517584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 10/15/28(x) | 500000 | 472234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 1/17/29 | 350000 | 361722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 4/6/29 | 500000 | 495819 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 4/6/30 | 295000 | 308451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.350%, 1/8/31 | 500000 | 442682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 6/10/31 | 750000 | 668185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 6/18/31 | 155000 | 160284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 1/9/33 | 700000 | 749466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 1/7/34 | 1000000 | 1050962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 9/6/34 | 220000 | 221016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 1/7/35 | 500000 | 515342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 7/15/35 | 1000000 | 1044722 |
|  John Deere Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.350%, 3/8/27 | 250000 | 244806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 3/9/27 | 175000 | 169735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 9/8/27 | 400000 | 392303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 1/6/28 | 500000 | 490528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1/20/28 | 530000 | 540520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 3/3/28 | 300000 | 306785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 7/14/28 | 785000 | 805661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 3/7/29 | 270000 | 265304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 6/11/29 | 500000 | 513742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 7/18/29 | 325000 | 310602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 10/11/29 | 500000 | 515285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 1/9/30 | 290000 | 271412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 6/10/30 | 415000 | 425685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 9/15/32 | 375000 | 375529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 4/11/34 | 1000000 | 1034211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 9/8/33 | 500000 | 522967 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series MTN1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 6/12/34 | 1000000 | 1030010 |
|  PACCAR Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/4/27 | 350000 | 341469 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 1/10/28 | 100000 | 101480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 8/10/28 | 500000 | 514169 |
|  Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 12/1/27 | 1500000 | 1482715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/19/29 | 250000 | 253103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 10/28/31 | 250000 | 221407 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.07%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 7/29/36(k) | 65000 | 66557 |
|  Toyota Motor Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.150%, 8/13/27 | 590000 | 561554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 1/11/28 | 500000 | 489621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 1/12/28 | 320000 | 324653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 4/6/28 | 600000 | 570715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 9/11/28 | 750000 | 774916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 1/8/29 | 500000 | 494462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 5/16/29 | 500000 | 515486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 6/29/29 | 500000 | 505416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 2/13/30 | 500000 | 460878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 5/17/30 | 750000 | 762278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 1/10/31 | 550000 | 481375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 1/13/32 | 500000 | 444690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 1/12/33 | 350000 | 353936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 1/5/34 | 1500000 | 1522797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 1/9/35 | 300000 | 313213 |
|  |  | 82450511 |
|  ***Financial Services (0.5%)*** |  |  |
|  Apollo Global Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 8/12/35 | 235000 | 235775 |
|  Block Financial LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 7/15/28 | 350000 | 331832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/30 | 230000 | 221665 |
|  Corebridge Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 9/15/33 | 1165000 | 1242773 |
|  Fidelity National Information Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 3/1/28 | 215000 | 202518 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 7/15/32 | 500000 | 511817 |
|  Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 6/1/27 | 1000000 | 972186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 8/21/28 | 500000 | 515110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 10/1/28 | 465000 | 464468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 7/1/29 | 890000 | 863741 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 6/1/30 | 1500000 | 1387896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 3/2/33 | 225000 | 235037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 8/21/33 | 500000 | 524629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 8/12/34 | 500000 | 506647 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 8/11/35(x) | 290000 | 292917 |
|  Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 1/15/27 | 500000 | 486403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 8/15/27 | 315000 | 318701 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 6/1/28(x) | 500000 | 500443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 8/15/29 | 300000 | 306772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 5/15/30 | 235000 | 217444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 11/15/31 | 500000 | 447639 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 8/15/32(x) | 500000 | 510986 |
|  HA Sustainable Infrastructure Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 7/1/34 | 125000 | 126744 |
|  Jackson Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.170%, 6/8/27 | 280000 | 283510 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.670%, 6/8/32 | $250000 | $259312 |
|  Mastercard, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 11/21/26 | 1150000 | 1138994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/26/28 | 140000 | 138787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 3/9/28 | 355000 | 363262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 6/1/29 | 700000 | 676546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/18/31 | 500000 | 441842 |
|  National Rural Utilities Cooperative Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 4/25/27 | 350000 | 345201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 2/7/28 | 500000 | 492425 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/15/28 | 145000 | 147632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 9/15/28 | 1250000 | 1282189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 11/1/28 | 250000 | 248480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 6/15/29 | 500000 | 518001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 1/15/33 | 165000 | 176860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/15/34 | 600000 | 608557 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 8/25/28 | 155000 | 155202 |
|  ORIX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 7/18/27 | 400000 | 396486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/13/27 | 200000 | 203336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 3/9/31(x) | 350000 | 311593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/13/32 | 250000 | 241122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 9/13/32 | 200000 | 206152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 2/25/35 | 200000 | 205840 |
|  PayPal Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 10/1/26 | 335000 | 330890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 6/1/27 | 180000 | 179992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 6/1/30 | 1000000 | 919607 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 6/1/32 | 500000 | 499516 |
|  Private Export Funding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/7/27§ | 625000 | 630469 |
|  Shell International Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 9/12/26(x) | 1000000 | 987980 |
|  Synchrony Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 8/23/27 | 250000 | 255360 |
|  Visa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 8/15/27 | 465000 | 440403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 9/15/27 | 300000 | 294480 |
|  Voya Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/20/34 | 110000 | 109402 |
|  Western Union Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 3/15/31 | 350000 | 311097 |
|  Woodside Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 9/12/34 | 1000000 | 987383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5/19/35 | 500000 | 524617 |
|  |  | 26736668 |
|  ***Insurance (0.8%)*** |  |  |
|  Alleghany Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5/15/30 | 500000 | 487197 |
|  Allstate Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.280%, 12/15/26 | 500000 | 495123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 6/24/29 | 125000 | 128373 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 12/15/30 | 300000 | 258710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/30/33 | 390000 | 403838 |
|  American Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/23/35 | 65000 | 63529 |
|  American International Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 3/27/33 | 665000 | 683190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 5/7/35 | 125000 | 129953 |
|  American National Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 7/15/35 | 500000 | 510286 |
|  Aon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 5/28/27 | 180000 | 176423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/15/28 | 650000 | 656426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 5/2/29 | 350000 | 344613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 5/15/30 | 500000 | 469249 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 8/23/31 | 750000 | 658629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 12/2/31 | 355000 | 319359 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/12/32 | 500000 | 513865 |
|  Aon North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 3/1/34 | 750000 | 781678 |
|  Arch Capital Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.011%, 12/15/26 | 500000 | 498875 |
|  Arthur J Gallagher & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/2/33 | 315000 | 327163 |
|  Assurant, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 3/27/28 | 250000 | 252757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 1/15/32 | 500000 | 439323 |
|  Assured Guaranty US Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 9/15/28 | 185000 | 194284 |
|  Athene Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 1/12/28 | 750000 | 748087 |
|  AXIS Specialty Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 7/15/29 | 250000 | 245754 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.19%), 4.900%, 1/15/40(k) | 200000 | 194000 |
|  AXIS Specialty Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/6/27 | 500000 | 497604 |
|  Berkshire Hathaway Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 3/15/27 | 500000 | 490288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.850%, 3/12/30(x) | 165000 | 151137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 10/15/30(x) | 395000 | 350044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 3/15/32 | 500000 | 467563 |
|  Brighthouse Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 6/22/27 | 2000000 | 1975256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 5/15/30 | 145000 | 148619 |
|  Brown & Brown, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 3/15/29 | 300000 | 300445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 3/17/32 | 325000 | 313466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 6/23/35 | 250000 | 256738 |
|  Chubb INA Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 8/15/29 | 400000 | 407488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 9/15/30 | 1665000 | 1458573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 8/15/35 | 415000 | 417647 |
|  CNA Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 8/15/27 | 500000 | 494011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 5/1/29 | 210000 | 207053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 8/15/30 | 170000 | 151610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 8/15/35 | 250000 | 249486 |
|  Enstar Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 6/1/29 | 350000 | 352775 |
|  F&G Annuities & Life, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 6/4/29 | 85000 | 88558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/4/34 | 315000 | 320549 |
|  Fairfax Financial Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 4/17/28 | 250000 | 252978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/29/30 | 750000 | 752786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 3/3/31(x) | 355000 | 334983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 8/16/32 | 250000 | 259919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/7/33 | 500000 | 530857 |
|  Fidelity National Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/15/28 | 475000 | 476507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 6/15/30 | 300000 | 284543 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  First American Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/15/30 | $180000 | $173869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 8/15/31 | 315000 | 274342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 9/30/34 | 100000 | 100378 |
|  Globe Life, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 9/15/28(x) | 500000 | 504413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 8/15/30 | 500000 | 449091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 6/15/32 | 150000 | 150526 |
|  Hanover Insurance Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/1/35 | 105000 | 105665 |
|  Hartford Insurance Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 8/19/29 | 535000 | 506198 |
|  Horace Mann Educators Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 10/1/30 | 125000 | 123789 |
|  Kemper Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 9/30/30(x) | 500000 | 441873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 2/23/32 | 500000 | 461643 |
|  Lincoln National Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 12/12/26 | 500000 | 496081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 3/1/32 | 750000 | 693127 |
|  Loews Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 5/15/30 | 60000 | 57331 |
|  Manulife Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.484%, 5/19/27(x) | 350000 | 341180 |
| &nbsp;&nbsp;&nbsp;&nbsp; (USD ICE Swap Rate 5 Year + 1.65%), 4.061%, 2/24/32(k) | 750000 | 740612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.703%, 3/16/32(x) | 500000 | 478672 |
|  Markel Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/1/27 | 350000 | 345152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 9/17/29 | 90000 | 86986 |
|  Marsh & McLennan Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/15/29 | 700000 | 706364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 12/15/31 | 340000 | 302611 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 9/15/33(x) | 1350000 | 1416233 |
|  Mercury General Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 3/15/27 | 300000 | 298284 |
|  MetLife, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 7/15/33 | 200000 | 210349 |
|  PartnerRe Finance B LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 7/2/29 | 350000 | 342302 |
|  Principal Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 11/15/26 | 350000 | 345888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 5/15/29 | 375000 | 367637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 6/15/30 | 750000 | 679581 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 3/15/33 | 140000 | 145412 |
|  Progressive Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/15/27 | 290000 | 283905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/15/32 | 350000 | 322572 |
|  Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.878%, 3/27/28 | 650000 | 649036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 3/10/30 | 235000 | 216539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/15/47 | 1075000 | 1059001 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.16%), 5.125%, 3/1/52(k) | 175000 | 174781 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.23%), 6.000%, 9/1/52(k) | 350000 | 364000 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.40%), 6.500%, 3/15/54(k) | 750000 | 798750 |
|  Prudential Funding Asia plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 4/14/30 | 1500000 | 1438125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 3/24/32 | 500000 | 475905 |
|  Reinsurance Group of America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 5/15/29 | 175000 | 172784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 6/15/30 | 175000 | 165267 |
|  RenaissanceRe Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 7/1/27 | 195000 | 192829 |
|  RenaissanceRe Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 4/15/29 | 500000 | 487240 |
|  Travelers Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 7/24/35 | 75000 | 76331 |
|  Unum Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/15/29 | 180000 | 177614 |
|  Willis North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 6/15/27 | 200000 | 201517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/15/28 | 500000 | 504184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 9/15/29 | 540000 | 511849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 5/15/33 | 500000 | 516925 |
|  |  | 42106910 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 646644837 |
|  **Health Care (2.5%)** |  |  |
|  ***Biotechnology (0.4%)*** |  |  |
|  AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 11/21/26 | 1430000 | 1413871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 11/21/29 | 1790000 | 1726906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 3/15/34 | 4000000 | 4111888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/15/35 | 500000 | 517355 |
|  Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 2/21/27 | 705000 | 687971 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 11/2/27 | 1250000 | 1228186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/2/28 | 800000 | 818401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 8/15/28(x) | 600000 | 560215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/22/29 | 290000 | 279097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 8/18/29 | 500000 | 497171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 2/21/30 | 950000 | 880127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/2/30 | 600000 | 621241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 2/22/32 | 290000 | 271705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 3/1/33(x) | 500000 | 485906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/2/33 | 730000 | 755067 |
|  Biogen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 5/1/30 | 735000 | 669752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 5/15/35 | 140000 | 146541 |
|  Gilead Sciences, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 10/1/27 | 235000 | 222862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 10/1/30 | 2790000 | 2472132 |
|  Regeneron Pharmaceuticals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 9/15/30 | 850000 | 748972 |
|  |  | 19115366 |
|  ***Health Care Equipment & Supplies (0.2%)*** |  |  |
|  Abbott Laboratories |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 11/30/26 | 978000 | 977609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.150%, 1/30/28 | 170000 | 159947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.400%, 6/30/30 | 160000 | 142236 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Baxter International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.915%, 2/1/27 | $500000 | $484821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.272%, 12/1/28 | 500000 | 469469 |
|  Becton Dickinson & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 6/6/27 | 1467000 | 1457030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.693%, 2/13/28 | 375000 | 379541 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.823%, 5/20/30(x) | 355000 | 332653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.957%, 2/11/31 | 665000 | 585513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.298%, 8/22/32 | 105000 | 103287 |
|  DH Europe Finance II Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 11/15/29 | 315000 | 296324 |
|  Edwards Lifesciences Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 6/15/28 | 750000 | 752581 |
|  GE HealthCare Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 8/14/29 | 1000000 | 1020081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/15/35 | 250000 | 259457 |
|  Smith & Nephew plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.032%, 10/14/30 | 500000 | 447608 |
|  Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 3/23/34 | 1000000 | 1043287 |
|  STERIS Irish FinCo. UnLtd. Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 3/15/31 | 430000 | 389998 |
|  Stryker Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 3/7/28 | 600000 | 594602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 6/15/30 | 500000 | 452312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/11/34 | 500000 | 496696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 2/10/35 | 235000 | 241825 |
|  Zimmer Biomet Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 11/24/31 | 500000 | 448460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/19/35 | 500000 | 519412 |
|  |  | 12054749 |
|  ***Health Care Providers & Services (0.9%)*** |  |  |
|  Adventist Health System |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.742%, 12/1/30 | 125000 | 125078 |
|  Advocate Health & Hospitals Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.829%, 8/15/28 | 100000 | 99373 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.211%, 6/15/30 | 150000 | 137618 |
|  Banner Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.338%, 1/1/30 | 190000 | 175934 |
|  Baylor Scott & White Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.777%, 11/15/30 | 50000 | 44307 |
|  Bon Secours Mercy Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.302%, 7/1/28 | 125000 | 125288 |
|  Cardinal Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.410%, 6/15/27 | 1250000 | 1235878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 11/15/34 | 750000 | 769376 |
|  Cencora, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 12/15/27 | 400000 | 394168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 5/15/30 | 750000 | 701273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 3/15/31 | 600000 | 548896 |
|  Cigna Group (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/15/28 | 1340000 | 1347158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 3/15/30 | 2350000 | 2169874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 3/15/31 | 450000 | 405149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 9/15/32 | 355000 | 358026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 3/15/33 | 500000 | 520704 |
|  CommonSpirit Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.073%, 11/1/27 | 390000 | 403817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.347%, 10/1/29 | 185000 | 178255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.782%, 10/1/30 | 340000 | 313961 |
|  CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.300%, 8/21/27 | 1500000 | 1421466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 3/25/28 | 2587000 | 2588229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/30/29 | 180000 | 183557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 6/1/29 | 335000 | 345872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 8/15/29 | 335000 | 320752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 2/21/30 | 400000 | 409672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 8/21/30 | 2000000 | 1752935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 1/30/31 | 180000 | 185260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 6/1/31 | 2000000 | 2086444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/21/33 | 400000 | 409171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 6/1/33 | 195000 | 199482 |
|  Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 12/1/27 | 715000 | 709387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/15/28 | 465000 | 463021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 6/15/29 | 310000 | 318637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 9/15/29 | 200000 | 189662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 5/15/30 | 165000 | 150563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 3/15/31(x) | 750000 | 680616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 5/15/32 | 1000000 | 969137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 9/15/32 | 500000 | 497142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/15/33 | 500000 | 501317 |
|  HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/15/27 | 820000 | 821213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 3/15/27 | 235000 | 231661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 6/1/28(x) | 2500000 | 2557402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 3/15/29 | 335000 | 324411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 6/15/29 | 525000 | 519554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 7/15/31 | 750000 | 663542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 3/15/32 | 500000 | 468607 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 9/15/34 | 1000000 | 1025376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/1/35 | 200000 | 209008 |
|  Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.350%, 2/3/27 | 540000 | 519848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 3/15/27 | 375000 | 373318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/1/28 | 200000 | 206144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 3/23/29 | 625000 | 610438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 8/15/29 | 625000 | 594964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 4/15/31 | 750000 | 770948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 3/1/33 | 200000 | 209969 |
|  Kaiser Foundation Hospitals |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 5/1/27 | 375000 | 369753 |
|  McKesson Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 5/30/35 | 750000 | 770934 |
|  Providence St Joseph Health Obligated Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series H |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.746%, 10/1/26 | 400000 | 393673 |
|  Quest Diagnostics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 11/30/33 | 140000 | 155127 |
|  Sutter Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 20A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.294%, 8/15/30(x) | 415000 | 379089 |
|  UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 1/15/27 | 750000 | 745209 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 5/15/27 | 350000 | 348572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 10/15/27 | 1000000 | 980008 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/15/28 | 715000 | 734494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/15/28 | 250000 | 248604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/15/29 | 500000 | 501607 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/15/29 | 390000 | 388555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 8/15/29 | 770000 | 734396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 5/15/30 | 395000 | 357429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 5/15/31 | 750000 | 670897 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 1/15/32 | 500000 | 511970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 5/15/32 | 315000 | 310229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/15/33(x) | 500000 | 494808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 7/15/34 | 2000000 | 2049086 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 6/15/35 | $205000 | $212243 |
|  Universal Health Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 10/15/34 | 245000 | 238822 |
|  |  | 46138363 |
|  ***Life Sciences Tools & Services (0.1%)*** |  |  |
|  Agilent Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 9/15/29 | 175000 | 165716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 6/4/30 | 290000 | 262887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 3/12/31 | 750000 | 672744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 9/9/34 | 300000 | 298351 |
|  Illumina, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 3/23/31 | 225000 | 200809 |
|  Revvity, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 9/15/29 | 625000 | 597654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 3/15/31 | 415000 | 370272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 9/15/31 | 355000 | 308009 |
|  Thermo Fisher Scientific, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 10/15/28 | 890000 | 833150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.977%, 8/10/30 | 500000 | 517734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.086%, 8/10/33 | 700000 | 725446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.794%, 10/7/35 | 525000 | 525251 |
|  |  | 5478023 |
|  ***Pharmaceuticals (0.9%)*** |  |  |
|  Astrazeneca Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 3/3/28 | 500000 | 510406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 5/28/28 | 400000 | 378605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 3/3/30 | 500000 | 514892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 5/28/31 | 325000 | 293368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 3/3/33 | 500000 | 514914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/26/34 | 3000000 | 3091940 |
|  Bristol-Myers Squibb Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 11/13/27(x) | 600000 | 567763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 2/20/28 | 2750000 | 2749847 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 7/26/29 | 773000 | 753714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 11/13/30 | 355000 | 310614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 11/15/33 | 665000 | 723110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 2/22/34 | 3000000 | 3106131 |
|  Eli Lilly & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 3/15/29 | 258000 | 253412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/12/30 | 1000000 | 1026044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 3/15/31 | 500000 | 500446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 10/15/32(x) | 355000 | 357838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 2/9/34 | 2000000 | 2017970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 8/14/34 | 355000 | 356210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 2/12/35 | 1000000 | 1034163 |
|  GlaxoSmithKline Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 5/15/28 | 500000 | 498552 |
|  Johnson & Johnson |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 3/3/27 | 500000 | 494637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.950%, 9/1/27 | 625000 | 593919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 3/1/30 | 1000000 | 1030403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.300%, 9/1/30 | 705000 | 623119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 6/1/31 | 2315000 | 2412287 |
|  Merck & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 6/10/27 | 600000 | 579818 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 5/17/28 | 250000 | 251071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 12/10/28 | 300000 | 281793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 3/7/29 | 750000 | 734034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 5/17/30 | 500000 | 503430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 6/24/30 | 895000 | 792153 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 12/10/31 | 570000 | 502460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/17/33 | 295000 | 296142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 9/15/35 | 625000 | 629201 |
|  Novartis Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/14/27 | 750000 | 732331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 5/17/27 | 1000000 | 989676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 9/18/34 | 1250000 | 1222028 |
|  Pfizer Investment Enterprises Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 5/19/28 | 2000000 | 2022987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 5/19/30 | 1500000 | 1525643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/19/33 | 1195000 | 1205114 |
|  Pfizer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 9/15/28 | 1350000 | 1340972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 3/15/29 | 1000000 | 983901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 5/28/30 | 250000 | 224194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 8/18/31 | 490000 | 428479 |
|  Royalty Pharma plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 9/2/27 | 455000 | 434481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 9/2/29 | 390000 | 400220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 9/2/30(x) | 415000 | 371588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 9/25/35 | 500000 | 500353 |
|  Sanofi SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 6/19/28 | 750000 | 745445 |
|  Takeda Pharmaceutical Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/26/28 | 1000000 | 1021190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 3/31/30 | 470000 | 427039 |
|  Takeda US Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 7/7/35 | 500000 | 508698 |
|  Viatris, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 6/22/27 | 375000 | 360721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 6/22/30 | 885000 | 796415 |
|  Zoetis, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/12/27 | 500000 | 490849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 8/20/28 | 350000 | 348939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 5/15/30 | 500000 | 454776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/17/35 | 140000 | 141428 |
|  |  | 46961873 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 129748374 |
|  **Industrials (1.8%)** |  |  |
|  ***Aerospace & Defense (0.5%)*** |  |  |
|  Boeing Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 2/1/27 | 365000 | 357637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.040%, 5/1/27 | 1500000 | 1515950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 2/1/28 | 600000 | 586090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 11/1/28(x) | 300000 | 292564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 3/1/29 | 500000 | 482068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 2/1/30 | 750000 | 705229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 5/1/30 | 1000000 | 1027105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.388%, 5/1/31 | 190000 | 206982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.528%, 5/1/34 | 2000000 | 2209431 |
|  Embraer Netherlands Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.980%, 2/11/35 | 110000 | 116009 |
|  General Dynamics Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 5/15/28 | 805000 | 803162 |
|  General Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 7/29/30 | 500000 | 502598 |
|  Hexcel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 2/26/35 | 70000 | 72653 |
|  Huntington Ingalls Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.043%, 8/16/28 | 1000000 | 938492 |
|  L3Harris Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 12/15/26(x) | 245000 | 244218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 1/15/27 | 335000 | 340433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 6/15/28 | 1750000 | 1761287 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 7/31/33 | 750000 | 780326 |
|  Leidos, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/15/30 | 95000 | 94662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/15/33 | 375000 | 395424 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 5/15/28 | $480000 | $485611 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/15/34 | 2000000 | 2017973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/15/35 | 555000 | 563617 |
|  Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 1/15/28 | 1500000 | 1474248 |
|  RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/15/27 | 715000 | 709187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 5/4/27 | 1250000 | 1231942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 3/15/31 | 625000 | 674501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 9/1/31 | 1520000 | 1318844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 3/15/32 | 750000 | 662161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 2/27/33 | 290000 | 299884 |
|  Textron, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 3/15/27 | 250000 | 247727 |
|  |  | 23118015 |
|  ***Air Freight & Logistics (0.1%)*** |  |  |
|  CH Robinson Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 4/15/28 | 500000 | 500100 |
|  FedEx Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 8/5/29§ | 750000 | 717111 |
|  GXO Logistics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 5/6/29 | 155000 | 162645 |
|  United Parcel Service, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 11/15/27 | 750000 | 737864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 3/15/29 | 310000 | 304539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 9/1/29 | 150000 | 141290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 3/3/33 | 290000 | 297752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 5/14/35 | 290000 | 299505 |
|  |  | 3160806 |
|  ***Building Products (0.2%)*** |  |  |
|  Carrier Global Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.493%, 2/15/27 | 830000 | 812138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.722%, 2/15/30 | 1570000 | 1470372 |
|  CRH America Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1/9/35 | 1000000 | 1044013 |
|  Fortune Brands Innovations, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 9/15/29(x) | 350000 | 334669 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/25/32 | 500000 | 475899 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 6/1/33(x) | 315000 | 334183 |
|  Johnson Controls International plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/19/29 | 250000 | 260059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 9/15/30 | 265000 | 234688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 9/16/31 | 585000 | 508666 |
|  Lennox International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 8/1/27 | 100000 | 95495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/15/28 | 250000 | 258431 |
|  Masco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 2/15/28 | 375000 | 352823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/1/30 | 500000 | 447144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/15/31 | 500000 | 437510 |
|  Owens Corning |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 8/15/29 | 250000 | 246827 |
|  Trane Technologies Financing Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 3/21/29 | 500000 | 494390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/3/33 | 135000 | 140580 |
|  |  | 7947887 |
|  ***Commercial Services & Supplies (0.2%)*** |  |  |
|  Cintas Corp. No. 2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 4/1/27 | 600000 | 597491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/1/32 | 500000 | 488767 |
|  RELX Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/18/29 | 750000 | 745200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/22/30 | 250000 | 236276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/20/32 | 105000 | 106816 |
|  Republic Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 11/15/27 | 275000 | 271884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 5/15/28 | 750000 | 749400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 4/1/29 | 555000 | 568874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/15/29 | 500000 | 515646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/15/35 | 355000 | 365724 |
|  Waste Connections, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/1/29 | 750000 | 736841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/1/34 | 1000000 | 1018032 |
|  Waste Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 11/15/27 | 750000 | 737280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.150%, 3/15/28 | 195000 | 182351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 2/15/29 | 500000 | 513350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 6/1/29 | 250000 | 232450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/15/30(x) | 500000 | 509079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 4/15/32 | 1000000 | 987252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/15/33 | 500000 | 504500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 2/15/34 | 2000000 | 2041540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 3/15/35 | 500000 | 506926 |
|  |  | 12615679 |
|  ***Construction & Engineering (0.0%)†*** |  |  |
|  Quanta Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 10/1/30 | 1000000 | 933330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 8/9/34 | 175000 | 179182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 8/9/35 | 500000 | 501190 |
|  |  | 1613702 |
|  ***Electrical Equipment (0.1%)*** |  |  |
|  Eaton Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.103%, 9/15/27 | 500000 | 493207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 5/18/28 | 310000 | 313265 |
|  Emerson Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 10/15/26 | 665000 | 644383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 10/15/27 | 235000 | 225505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/21/28 | 600000 | 564545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 12/21/31 | 600000 | 532134 |
|  Hubbell, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 8/15/27 | 150000 | 147399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/15/28 | 500000 | 493079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 3/15/31 | 290000 | 260481 |
|  Regal Rexnord Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 4/15/33 | 2000000 | 2148816 |
|  Rockwell Automation, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/1/29 | 300000 | 294418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 8/15/31 | 200000 | 174157 |
|  |  | 6291389 |
|  ***Ground Transportation (0.2%)*** |  |  |
|  Burlington Northern Santa Fe LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/15/27 | 400000 | 395605 |
|  Canadian National Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 8/5/32(x) | 500000 | 479987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 9/18/34(x) | 260000 | 253575 |
|  Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 12/2/26(x) | 290000 | 282225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 11/15/29 | 310000 | 294254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 3/5/30(x) | 180000 | 164099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 12/2/31 | 335000 | 297630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/30/35(x) | 500000 | 515536 |
|  CSX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 11/1/26 | 750000 | 738105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/1/27 | 550000 | 543306 |
|  Norfolk Southern Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 6/1/27 | 365000 | 360380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 11/1/29 | 500000 | 470404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 8/1/30(x) | 355000 | 367816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 5/1/35 | 100000 | 102040 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Ryder System, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 12/1/26 | $220000 | $216524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 3/1/27 | 145000 | 142312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 6/15/27 | 250000 | 250304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 3/1/28 | 750000 | 776613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/1/28 | 355000 | 364455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 9/1/29 | 300000 | 306823 |
|  Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 9/15/34 | 1000000 | 1000987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 9/15/35 | 155000 | 153158 |
|  Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 2/5/27 | 500000 | 488125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 3/1/29 | 530000 | 524067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 2/5/30 | 430000 | 400679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/20/31 | 470000 | 428001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 2/14/32 | 350000 | 321186 |
|  |  | 10638196 |
|  ***Industrial Conglomerates (0.1%)*** |  |  |
|  3M Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 10/15/27 | 500000 | 489564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/14/28 | 500000 | 493573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 8/26/29 | 750000 | 701956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/15/35 | 500000 | 511303 |
|  Honeywell International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/15/29 | 475000 | 477235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 8/15/29 | 295000 | 280953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 2/1/30 | 600000 | 611317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 6/1/30 | 1000000 | 906371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 9/1/31 | 960000 | 829573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/1/32 | 600000 | 609477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/1/35 | 500000 | 507127 |
|  Pentair Finance Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/29 | 250000 | 251284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 7/15/32 | 500000 | 529798 |
|  |  | 7199531 |
|  ***Machinery (0.2%)*** |  |  |
|  Caterpillar, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 9/19/29 | 350000 | 332065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 3/12/31 | 350000 | 312905 |
|  CNH Industrial Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/16/30 | 500000 | 498955 |
|  CNH Industrial NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 11/15/27 | 655000 | 651680 |
|  Cummins, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 5/9/35 | 500000 | 516467 |
|  Deere & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 1/16/35 | 500000 | 525253 |
|  Dover Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 11/4/29 | 105000 | 99844 |
|  IDEX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/1/30 | 250000 | 234816 |
|  Illinois Tool Works, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 11/15/26(x) | 950000 | 937163 |
|  Ingersoll Rand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.176%, 6/15/29 | 350000 | 361747 |
|  Kennametal, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 6/15/28 | 250000 | 251752 |
|  nVent Finance Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 11/15/31(x) | 500000 | 446412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 5/15/33 | 500000 | 521210 |
|  Oshkosh Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 5/15/28 | 250000 | 251447 |
|  Otis Worldwide Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.293%, 4/5/27 | 800000 | 780051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 8/16/28 | 185000 | 190649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.565%, 2/15/30 | 925000 | 861584 |
|  Parker-Hannifin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 9/15/27 | 355000 | 356526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/14/29 | 270000 | 262208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/15/29 | 250000 | 253220 |
|  Stanley Black & Decker, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 3/6/28 | 500000 | 520590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/15/28 | 350000 | 350462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/15/32 | 285000 | 256392 |
|  Westinghouse Air Brake Technologies Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 11/15/26 | 500000 | 495591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 9/15/28(e) | 750000 | 759121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5/29/35 | 350000 | 361787 |
|  Xylem, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/1/26 | 570000 | 564073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 1/30/28 | 350000 | 333757 |
|  |  | 12287727 |
|  ***Passenger Airlines (0.0%)†*** |  |  |
|  Southwest Airlines Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/15/26 | 250000 | 246379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 6/15/27 | 850000 | 860345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 11/16/27 | 250000 | 245515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 2/10/30 | 350000 | 322977 |
|  |  | 1675216 |
|  ***Professional Services (0.1%)*** |  |  |
|  Automatic Data Processing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 5/15/28 | 485000 | 459341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 9/9/34 | 1000000 | 992108 |
|  Broadridge Financial Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 12/1/29 | 500000 | 472446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 5/1/31 | 1000000 | 904534 |
|  Equifax, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 12/15/27 | 565000 | 574975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 6/1/28 | 750000 | 766141 |
|  Verisk Analytics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/15/29 | 500000 | 499274 |
|  |  | 4668819 |
|  ***Trading Companies & Distributors (0.1%)*** |  |  |
|  Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 1/15/27 | 750000 | 729521 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 12/15/27 | 500000 | 514928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 2/1/28 | 250000 | 254436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 9/1/28 | 455000 | 425797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/1/30 | 250000 | 232851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 12/1/30 | 350000 | 322965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 7/15/31 | 250000 | 254625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 1/15/32 | 750000 | 670652 |
|  Ferguson Enterprises, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 3/15/31 | 250000 | 248189 |
|  |  | 3653964 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 94870931 |
|  **Information Technology (2.2%)** |  |  |
|  ***Communications Equipment (0.1%)*** |  |  |
|  Cisco Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/24/30 | 1000000 | 1026032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 2/26/34 | 3000000 | 3104131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 2/24/35 | 400000 | 412806 |
|  Juniper Networks, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/15/29 | 500000 | 488106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/10/30 | 320000 | 280338 |
|  Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 2/23/28 | 550000 | 555599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 5/23/29 | 350000 | 353835 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  5.600%, 6/1/32 | $500000 | $525918 |
|  |  | 6746765 |
|  ***Electronic Equipment, Instruments & Components (0.2%)*** |  |  |
|  Allegion US Holding Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 10/1/27 | 500000 | 493263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.411%, 7/1/32 | 200000 | 208609 |
|  Amphenol Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 9/15/31 | 440000 | 390402 |
|  Avnet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 3/15/28 | 500000 | 519933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/15/31(x) | 500000 | 453098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/1/32 | 100000 | 101694 |
|  CDW LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.670%, 12/1/26 | 715000 | 701376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.276%, 12/1/28 | 535000 | 516448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.569%, 12/1/31 | 750000 | 699662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 8/22/34(x) | 175000 | 179024 |
|  Flex Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 6/15/29 | 350000 | 353594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 5/12/30 | 665000 | 671391 |
|  Jabil, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/27 | 375000 | 374984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 1/12/28 | 270000 | 268064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 2/1/29 | 315000 | 325071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 1/15/30 | 150000 | 144610 |
|  Keysight Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 4/6/27 | 465000 | 467119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/30/29 | 250000 | 237765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 10/15/34 | 85000 | 85327 |
|  Teledyne Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 4/1/28 | 500000 | 477420 |
|  Trimble, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 6/15/28 | 450000 | 458263 |
|  Tyco Electronics Group SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 8/15/27 | 365000 | 359412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/4/32 | 85000 | 75987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/9/35 | 290000 | 293545 |
|  Vontier Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 4/1/28 | 500000 | 473995 |
|  |  | 9330056 |
|  ***IT Services (0.2%)*** |  |  |
|  Accenture Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/4/34 | 1500000 | 1477516 |
|  Amdocs Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.538%, 6/15/30 | 500000 | 458197 |
|  DXC Technology Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 9/15/28(x) | 750000 | 706323 |
|  Genpact Luxembourg Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/4/29 | 125000 | 130267 |
|  International Business Machines Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 1/27/27 | 1095000 | 1085044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 2/9/27 | 185000 | 180525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 5/15/27 | 405000 | 390441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 7/27/27 | 500000 | 502323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/6/28 | 500000 | 505016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 5/15/30 | 220000 | 199324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.720%, 2/9/32 | 380000 | 344414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 7/27/32 | 500000 | 500557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/6/33 | 500000 | 507641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 2/10/35 | 1000000 | 1025497 |
|  |  | 8013085 |
|  ***Semiconductors & Semiconductor Equipment (0.7%)*** |  |  |
|  Advanced Micro Devices, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.924%, 6/1/32 | 65000 | 63571 |
|  Analog Devices, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/5/26 | 500000 | 497473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 6/15/27 | 500000 | 496106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 10/1/28 | 340000 | 318364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 10/1/31 | 435000 | 384873 |
|  Applied Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 6/15/29 | 135000 | 138421 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 6/1/30 | 585000 | 525744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/15/31 | 115000 | 113893 |
|  Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 2/15/28§ | 515000 | 490303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.110%, 9/15/28 | 1942000 | 1948479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/15/29§ | 250000 | 248611 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 7/12/29 | 325000 | 334560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/15/30 | 4500000 | 4636554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 10/15/30 | 180000 | 179570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 2/15/31§ | 1250000 | 1136151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 11/15/31 | 1000000 | 1036368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 4/15/32§ | 200000 | 196218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 10/15/34 | 1405000 | 1413449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 7/15/35 | 1060000 | 1091534 |
|  Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 5/11/27 | 1000000 | 983778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/5/27 | 500000 | 496288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 2/10/28 | 375000 | 380585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 11/15/29 | 1605000 | 1489674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 2/10/30(x) | 355000 | 364889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 3/25/30 | 1000000 | 981044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 8/12/31 | 750000 | 656057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 8/5/32 | 500000 | 482165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 2/10/33 | 335000 | 342057 |
|  KLA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 3/15/29 | 625000 | 626302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 7/15/32 | 440000 | 445699 |
|  Lam Research Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/15/29 | 530000 | 529145 |
|  Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 4/15/28 | 335000 | 320698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 6/22/28(x) | 350000 | 355489 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 4/15/31 | 290000 | 267692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 9/15/33 | 470000 | 503989 |
|  Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 4/15/28 | 500000 | 514980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.327%, 2/6/29(x) | 350000 | 360712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 11/1/29 | 500000 | 542644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.703%, 4/15/32 | 220000 | 195326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 2/9/33 | 315000 | 334481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 1/15/35 | 750000 | 787472 |
|  NVIDIA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.550%, 6/15/28 | 1000000 | 942869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 6/15/31 | 1000000 | 898847 |
|  NXP BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 5/1/27 | 165000 | 162481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 6/1/27 | 115000 | 115267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 12/1/28 | 335000 | 347080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 6/18/29 | 750000 | 748669 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 5/1/30 | 1215000 | 1164723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/11/31 | 500000 | 448550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 8/19/35 | 200000 | 201812 |
|  QUALCOMM, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 5/20/27 | 1500000 | 1487446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 5/20/30 | 500000 | 459003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/20/32 | 260000 | 259601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/20/35 | 315000 | 321469 |
|  Texas Instruments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 11/3/27 | 355000 | 348286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 2/15/28 | 55000 | 55959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 9/4/29 | 320000 | 299618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 9/15/31 | 600000 | 528236 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 8/16/32 | 140000 | 134338 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 3/14/33 | $650000 | $669247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 5/23/35 | 350000 | 360638 |
|  TSMC Arizona Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 4/22/27 | 460000 | 458371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 4/22/29 | 500000 | 500471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 4/22/32 | 345000 | 345453 |
|  |  | 38469842 |
|  ***Software (0.6%)*** |  |  |
|  Adobe, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 2/1/27 | 465000 | 455196 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 1/17/35 | 750000 | 790401 |
|  AppLovin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 12/1/29 | 1000000 | 1021290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/1/31 | 1000000 | 1032880 |
|  Autodesk, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/15/27 | 1000000 | 990981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 1/15/30 | 195000 | 184245 |
|  Fortinet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 3/15/31 | 125000 | 111227 |
|  Intuit, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.350%, 7/15/27(x) | 165000 | 157822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 9/15/28 | 500000 | 515934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 9/15/33 | 650000 | 678253 |
|  Microsoft Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 2/6/27 | 1000000 | 993849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 6/15/27 | 310000 | 308668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.350%, 9/15/30 | 180000 | 159450 |
|  Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/15/27 | 1000000 | 982462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/6/28 | 610000 | 613923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 11/9/29 | 295000 | 314193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 4/1/30 | 5000000 | 4703864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 5/6/30 | 1000000 | 1013185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 9/26/30 | 625000 | 623574 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 9/26/32 | 1060000 | 1059343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 2/6/33 | 525000 | 528875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 9/27/34 | 500000 | 487970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/3/35 | 1000000 | 1024499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 9/26/35 | 1440000 | 1446509 |
|  Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 12/15/26 | 285000 | 283925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.400%, 9/15/27 | 375000 | 356494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 9/15/29 | 210000 | 200153 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 6/30/30 | 440000 | 395364 |
|  Salesforce, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 4/11/28 | 375000 | 373828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 7/15/28 | 650000 | 609943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 7/15/31 | 1200000 | 1065920 |
|  ServiceNow, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.400%, 9/1/30 | 2000000 | 1750181 |
|  Synopsys, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 4/1/30 | 750000 | 764341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/1/32 | 500000 | 511345 |
|  VMware LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 8/21/27 | 2050000 | 2042550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 8/15/28 | 405000 | 379670 |
|  |  | 28932307 |
|  ***Technology Hardware, Storage & Peripherals (0.4%)*** |  |  |
|  Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 2/9/27 | 1500000 | 1491311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 5/11/27 | 923000 | 915844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/20/27 | 2060000 | 2033085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 2/8/28 | 1000000 | 943043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/10/28 | 355000 | 357023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.400%, 8/5/28 | 1000000 | 937303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 8/8/29 | 750000 | 734005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 9/11/29 | 750000 | 703531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 5/10/30 | 225000 | 227641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 5/11/30 | 440000 | 397192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 8/8/32 | 750000 | 715107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 5/10/33 | 500000 | 505792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/12/35(x) | 1000000 | 1021574 |
|  Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 10/1/26 | 1300000 | 1307125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/1/28 | 250000 | 255838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 10/1/29 | 1500000 | 1548387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 10/6/32 | 435000 | 432505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/1/35 | 500000 | 516526 |
|  Hewlett Packard Enterprise Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 7/1/28 | 500000 | 513987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 9/15/28 | 160000 | 159847 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 10/15/30 | 500000 | 497208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 10/15/31 | 500000 | 505101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/34 | 1000000 | 992759 |
|  HP, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1/15/28 | 500000 | 506598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 6/17/31 | 750000 | 676192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 4/15/32 | 500000 | 484251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 4/25/35 | 355000 | 376319 |
|  NetApp, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 6/22/27(x) | 300000 | 290972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 6/22/30 | 300000 | 277987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 3/17/35 | 250000 | 261186 |
|  Teledyne FLIR LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 8/1/30 | 250000 | 228693 |
|  Western Digital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 2/1/29 | 500000 | 470000 |
|  |  | 21283932 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 112775987 |
|  **Materials (0.7%)** |  |  |
|  ***Chemicals (0.3%)*** |  |  |
|  Air Products and Chemicals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.850%, 5/15/27 | 195000 | 188801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 5/15/30 | 125000 | 114203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/3/33 | 500000 | 509238 |
|  Albemarle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 6/1/27 | 250000 | 250296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 6/1/32 | 250000 | 246565 |
|  Cabot Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/1/29 | 500000 | 493468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/30/32 | 200000 | 202473 |
|  Dow Chemical Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 11/30/28 | 500000 | 505264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 1/15/31 | 250000 | 249124 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 3/15/35 | 1000000 | 994298 |
|  DuPont de Nemours, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.725%, 11/15/28 | 1000000 | 1009468 |
|  Eastman Chemical Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/1/29 | 125000 | 127334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/8/33(x) | 750000 | 788614 |
|  Ecolab, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 11/1/26 | 215000 | 212173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 2/1/27 | 1000000 | 970141 |
|  EIDP, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 5/15/33 | 500000 | 502280 |
|  FMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 10/1/26 | 350000 | 346305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 5/18/33(x) | 500000 | 500064 |
|  International Flavors & Fragrances, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 9/26/28(x) | 385000 | 386199 |
|  Linde, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.100%, 8/10/30(x) | 500000 | 434659 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  LYB International Finance III LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 10/1/30(x) | $270000 | $240716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 5/15/33(x) | 500000 | 513612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 5/15/35 | 60000 | 62422 |
|  Mosaic Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 11/15/27 | 750000 | 748010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 11/15/28 | 105000 | 108179 |
|  NewMarket Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 3/18/31 | 500000 | 453876 |
|  Nutrien Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/15/26(x) | 500000 | 499044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 3/27/28 | 235000 | 238889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 4/1/29 | 280000 | 279549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 5/13/30 | 500000 | 471408 |
|  PPG Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 8/15/29(x) | 250000 | 237948 |
|  RPM International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 3/15/27 | 350000 | 347493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 3/1/29 | 500000 | 503527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 1/15/32 | 470000 | 423354 |
|  Sherwin-Williams Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 6/1/27 | 750000 | 743017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 8/15/29 | 500000 | 477174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 8/15/35 | 225000 | 229180 |
|  Westlake Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 6/15/30(x) | 280000 | 266648 |
|  |  | 15875013 |
|  ***Construction Materials (0.0%)†*** |  |  |
|  Eagle Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 7/1/31(x) | 375000 | 337359 |
|  Martin Marietta Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 6/1/27 | 321000 | 317761 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/15/27 | 500000 | 493713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 7/15/31 | 250000 | 223378 |
|  Series CB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/15/30 | 235000 | 218489 |
|  Vulcan Materials Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 4/1/27 | 130000 | 129569 |
|  |  | 1720269 |
|  ***Containers & Packaging (0.1%)*** |  |  |
|  Amcor Finance USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 5/26/33 | 320000 | 333530 |
|  Amcor Flexibles North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 9/15/26 | 500000 | 494541 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.630%, 6/19/30 | 220000 | 203093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.690%, 5/25/31(x) | 490000 | 445449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/17/35 | 350000 | 359734 |
|  Avery Dennison Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 12/6/28 | 300000 | 305272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/15/33 | 250000 | 264239 |
|  Berry Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 1/15/27 | 500000 | 484276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/15/28 | 250000 | 257153 |
|  Packaging Corp. of America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 12/15/27 | 360000 | 354499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 12/1/33 | 280000 | 296506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 8/15/35 | 70000 | 71294 |
|  Sonoco Products Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 2/1/27 | 415000 | 404078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/1/34(x) | 290000 | 286903 |
|  WRKCo., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/15/28 | 500000 | 497325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 6/1/28 | 175000 | 173502 |
|  |  | 5231394 |
|  ***Metals & Mining (0.2%)*** |  |  |
|  AngloGold Ashanti Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 11/1/28 | 385000 | 373450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 10/1/30 | 200000 | 190732 |
|  BHP Billiton Finance USA Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/28/28 | 500000 | 507789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 9/8/28 | 500000 | 513999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 9/8/30 | 500000 | 521172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 2/28/33 | 530000 | 541605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 9/8/33 | 500000 | 519999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 2/21/35 | 200000 | 208046 |
|  Freeport-McMoRan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 8/1/30 | 1500000 | 1491193 |
|  Kinross Gold Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7/15/33 | 500000 | 545199 |
|  Nucor Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 5/23/27 | 500000 | 501865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 5/1/28 | 1350000 | 1345014 |
|  Reliance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 8/15/30 | 275000 | 246664 |
|  Rio Tinto Finance USA plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/14/32 | 500000 | 513826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/9/33 | 750000 | 770235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/14/35 | 915000 | 942626 |
|  Steel Dynamics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 10/15/27 | 190000 | 180590 |
|  Vale Overseas Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 7/8/30 | 1190000 | 1145970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 6/12/33 | 375000 | 400537 |
|  |  | 11460511 |
|  ***Paper & Forest Products (0.1%)*** |  |  |
|  Celulosa Arauco y Constitucion SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/2/27 | 500000 | 492560 |
|  Suzano Austria GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 9/15/28 | 210000 | 197621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1/15/29 | 1000000 | 1033750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/15/30 | 2000000 | 2016000 |
|  |  | 3739931 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 38027118 |
|  **Real Estate (1.2%)** |  |  |
|  ***Diversified REITs (0.2%)*** |  |  |
|  Broadstone Net Lease LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/1/32 | 105000 | 104349 |
|  Digital Realty Trust LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 8/15/27 | 1500000 | 1488173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 1/15/28 | 500000 | 514486 |
|  GLP Capital LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 6/1/28 | 385000 | 395372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 1/15/32 | 250000 | 224495 |
|  Simon Property Group LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/30/26 | 500000 | 495311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 6/15/27 | 1750000 | 1732921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 12/1/27 | 750000 | 740795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 2/1/28 | 500000 | 475177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 9/13/29 | 750000 | 703586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 7/15/30 | 500000 | 464884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 9/26/34 | 120000 | 119076 |
|  VICI Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 4/1/35 | 165000 | 169110 |
|  WP Carey, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/1/26 | 400000 | 400226 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 7/15/29 | $250000 | $246093 |
|  |  | 8274054 |
|  ***Health Care REITs (0.1%)*** |  |  |
|  DOC DR LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 3/15/27 | 250000 | 250030 |
|  Healthpeak OP LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.350%, 2/1/27 | 1000000 | 962526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 12/1/28 | 795000 | 744273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 7/15/29 | 200000 | 193819 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/15/32 | 375000 | 385689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 2/15/35 | 75000 | 76494 |
|  National Health Investors, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/1/31 | 150000 | 135446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 2/1/33 | 40000 | 39692 |
|  Sabra Health Care LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 10/15/29 | 750000 | 727365 |
|  Ventas Realty LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 10/15/26 | 800000 | 791783 |
|  Welltower OP LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 2/15/27 | 250000 | 245631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 4/15/28 | 1225000 | 1231157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 1/15/29 | 1165000 | 1090135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 7/1/35 | 855000 | 870353 |
|  |  | 7744393 |
|  ***Industrial REITs (0.1%)*** |  |  |
|  Prologis LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 10/1/26 | 300000 | 297816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 4/15/27 | 500000 | 486066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 12/15/27 | 680000 | 671650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 6/15/28 | 500000 | 511012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/15/28 | 300000 | 299738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 2/1/29 | 155000 | 156357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 11/15/29 | 185000 | 176007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 7/1/30 | 200000 | 178838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 1/15/32 | 500000 | 439814 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/15/34 | 750000 | 760047 |
|  Rexford Industrial Realty LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 12/1/30 | 250000 | 222465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 9/1/31 | 200000 | 173465 |
|  |  | 4373275 |
|  ***Office REITs (0.1%)*** |  |  |
|  Boston Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 6/21/29(x) | 750000 | 720239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 1/30/31(x) | 1500000 | 1391602 |
|  COPT Defense Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 1/15/29(x) | 425000 | 393948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/15/30 | 100000 | 99384 |
|  Kilroy Realty LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 12/15/28(x) | 350000 | 352000 |
|  Piedmont Operating Partnership LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 7/20/28 | 250000 | 277462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 7/15/29 | 175000 | 184914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 8/15/30 | 500000 | 453145 |
|  |  | 3872694 |
|  ***Real Estate Management & Development (0.0%)†*** |  |  |
|  CBRE Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 4/1/31 | 250000 | 225763 |
|  ***Residential REITs (0.2%)*** |  |  |
|  American Homes 4 Rent LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/15/28 | 500000 | 499075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 7/15/31 | 160000 | 141780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 4/15/32 | 350000 | 327971 |
|  AvalonBay Communities, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 10/15/26 | 250000 | 247138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 5/15/27 | 175000 | 173198 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 12/1/28 | 1250000 | 1168408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 12/7/33 | 145000 | 150451 |
|  Camden Property Trust (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 10/15/28 | 215000 | 215338 |
|  ERP Operating LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 8/1/27 | 355000 | 350510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 12/1/28 | 300000 | 300809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.850%, 8/1/31 | 200000 | 175141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 9/15/34 | 320000 | 316341 |
|  Essex Portfolio LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 3/1/28 | 625000 | 589875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/1/29 | 500000 | 495423 |
|  Invitation Homes Operating Partnership LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 11/15/28 | 375000 | 354184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 8/15/30 | 300000 | 311836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 4/15/32 | 250000 | 241294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/15/33 | 500000 | 519018 |
|  Mid-America Apartments LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 6/1/27 | 500000 | 496388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 3/15/29 | 750000 | 743539 |
|  Store Capital LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 3/15/28 | 275000 | 274230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 3/15/29(x) | 250000 | 248068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 11/18/30 | 250000 | 226716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 12/1/31 | 500000 | 436440 |
|  Sun Communities Operating LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 11/1/28(x) | 310000 | 293032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 7/15/31 | 185000 | 167448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 4/15/32 | 250000 | 241716 |
|  Tanger Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 9/1/31(x) | 200000 | 179669 |
|  UDR, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 7/1/27 | 350000 | 346182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 1/15/30 | 1000000 | 955781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/15/31 | 150000 | 138570 |
|  |  | 11325569 |
|  ***Retail REITs (0.2%)*** |  |  |
|  Agree LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 6/15/28 | 320000 | 301920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 6/15/35 | 70000 | 72937 |
|  Brixmor Operating Partnership LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 3/15/27 | 250000 | 248982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 4/1/28(x) | 175000 | 166618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 5/15/29 | 375000 | 371487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 7/1/30 | 375000 | 367834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 8/16/31 | 250000 | 222399 |
|  Federal Realty OP LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 7/15/27 | 500000 | 492044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 5/1/28 | 500000 | 513314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 6/15/29 | 500000 | 479999 |
|  Kimco Realty OP LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 3/1/28 | 200000 | 190232 |
|  Kite Realty Group LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/1/26 | 250000 | 249394 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  NNN REIT, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 12/15/26 | $250000 | $248436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 10/15/28 | 665000 | 667085 |
|  Realty Income Corp. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/15/26 | 725000 | 724588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 8/15/27 | 320000 | 319474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 3/15/28 | 500000 | 477186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 6/15/28 | 500000 | 476371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 12/15/28 | 350000 | 356364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/15/29 | 350000 | 339035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/15/29 | 225000 | 223739 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 3/15/30 | 155000 | 158760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 10/13/32 | 250000 | 264708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 2/15/34 | 2000000 | 2049233 |
|  Regency Centers LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 2/1/27 | 360000 | 357547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/15/28 | 500000 | 499575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 9/15/29 | 250000 | 238348 |
|  |  | 11077609 |
|  ***Specialized REITs (0.3%)*** |  |  |
|  American Tower Corp. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 1/15/27 | 350000 | 343744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 3/15/27 | 400000 | 396863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 1/31/28 | 350000 | 329626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/15/28 | 500000 | 514754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 7/15/28 | 355000 | 364510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 11/15/28 | 415000 | 433740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 3/15/29 | 500000 | 494743 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 1/15/30 | 240000 | 226149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 6/15/30 | 250000 | 225395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 10/15/30 | 1000000 | 884618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 4/15/31 | 600000 | 547925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 9/15/31 | 355000 | 313734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 3/15/33 | 250000 | 263353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 3/15/35 | 790000 | 810731 |
|  Crown Castle, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 3/15/27 | 970000 | 951426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 9/1/27 | 750000 | 742363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/11/28 | 180000 | 182342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 9/1/28 | 415000 | 420357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 6/1/29 | 250000 | 259586 |
|  CubeSmart LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 12/15/28 | 500000 | 470870 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 2/15/29 | 150000 | 149877 |
|  Equinix, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 11/18/26 | 455000 | 448226 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 7/15/27 | 215000 | 206406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.550%, 3/15/28 | 375000 | 352448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 5/15/28 | 350000 | 331803 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 11/18/29 | 455000 | 435396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/15/31 | 750000 | 676545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 4/15/32 | 500000 | 479165 |
|  Extra Space Storage LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/15/27 | 400000 | 397020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 4/1/28 | 330000 | 340885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 4/1/29 | 165000 | 162351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/15/29 | 500000 | 494887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 7/1/30 | 355000 | 370145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 10/15/31 | 350000 | 308097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 1/15/33 | 160000 | 160791 |
|  Public Storage Operating Co. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 11/9/26 | 250000 | 243224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.094%, 9/15/27 | 300000 | 295098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.850%, 5/1/28 | 280000 | 265222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 11/9/28 | 415000 | 390130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 1/15/29 | 295000 | 304605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.385%, 5/1/29 | 320000 | 312543 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 5/1/31 | 280000 | 251683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 11/9/31 | 310000 | 274646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 8/1/33 | 95000 | 98528 |
|  |  | 16926550 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 63819907 |
|  **Utilities (2.5%)** |  |  |
|  ***Electric Utilities (1.8%)*** |  |  |
|  AEP Texas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 5/15/32 | 250000 | 249903 |
|  AEP Transmission Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 12/1/26 | 250000 | 247227 |
|  Alabama Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 9/1/27 | 500000 | 499072 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 20-A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 9/15/30 | 500000 | 437811 |
|  American Electric Power Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 11/13/27 | 400000 | 392126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 3/1/30 | 150000 | 137308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 3/1/33 | 190000 | 199460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.13%), 5.800%, 3/15/56(k) | 500000 | 498673 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series J |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 12/1/28 | 500000 | 501482 |
|  Appalachian Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series AA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 4/1/31 | 500000 | 454979 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series BB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/1/32 | 85000 | 84031 |
|  Arizona Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 9/15/27 | 350000 | 343342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 8/15/29 | 250000 | 234726 |
|  Atlantic City Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/28 | 350000 | 348797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 3/15/31 | 250000 | 223764 |
|  Avangrid, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 6/1/29 | 750000 | 736288 |
|  Baltimore Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 6/15/31 | 500000 | 447905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 6/1/35 | 1000000 | 1035424 |
|  CenterPoint Energy Houston Electric LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 4/1/33 | 200000 | 202991 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series AE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.350%, 4/1/31 | 275000 | 248101 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/32 | 200000 | 182535 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series AQ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 8/15/35 | 440000 | 437358 |
|  Commonwealth Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 8/15/28 | 220000 | 218271 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 122 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 8/15/27 | 500000 | 491048 |
|  Connecticut Light & Power Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 8/15/34 | 125000 | 126170 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 3/15/27 | 250000 | 247057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 7/1/31 | 500000 | 441096 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  DTE Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 5/15/35 | $105000 | $107778 |
|  Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 4/1/28 | 320000 | 304302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/32 | 250000 | 231273 |
|  Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 11/15/28 | 500000 | 499531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 8/15/29 | 300000 | 282024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 4/15/31 | 375000 | 343473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 3/15/32 | 220000 | 200480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 1/15/33 | 500000 | 514161 |
|  Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 8/15/27 | 750000 | 738057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 3/15/28 | 375000 | 376590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 6/15/29 | 310000 | 301040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 6/1/30 | 250000 | 229926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 6/15/31 | 750000 | 677451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/15/32 | 355000 | 352169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 9/15/33 | 500000 | 532962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 9/15/35 | 500000 | 497158 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.59%), 6.450%, 9/1/54(k) | 500000 | 527500 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.32%), 3.250%, 1/15/82(k) | 280000 | 268598 |
|  Duke Energy Florida LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 1/15/27(x) | 650000 | 644551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 7/15/28 | 750000 | 746495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 6/15/30 | 215000 | 192459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 12/15/31 | 390000 | 350003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/15/33 | 225000 | 242750 |
|  Duke Energy Ohio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 4/1/33 | 35000 | 36182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 6/15/35 | 165000 | 169739 |
|  Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 3/15/29 | 350000 | 342403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 8/15/31 | 500000 | 438728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 3/15/34 | 500000 | 513296 |
|  Edison International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 6/15/27 | 40000 | 40473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/15/28 | 500000 | 491002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 11/15/28 | 285000 | 286829 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 11/15/29 | 100000 | 106097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/15/32 | 500000 | 495106 |
|  Emera US Finance LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.639%, 6/15/31 | 335000 | 299072 |
|  Enel Americas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/25/26 | 165000 | 164728 |
|  Enel Chile SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 6/12/28 | 750000 | 760612 |
|  Entergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 6/15/28 | 1165000 | 1098510 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.67%), 7.125%, 12/1/54(k) | 500000 | 519425 |
|  Entergy Louisiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 10/1/26 | 500000 | 491898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 3/15/34 | 500000 | 516568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 9/15/34(x) | 1000000 | 1018129 |
|  Evergy Kansas Central, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 11/15/33 | 300000 | 321300 |
|  Evergy Metro, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 4/15/33 | 315000 | 319318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 8/15/35 | 65000 | 65398 |
|  Evergy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 9/15/29 | 500000 | 473384 |
|  Eversource Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 3/1/27 | 200000 | 196402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 7/1/27 | 350000 | 351941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 3/15/31 | 500000 | 450941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 3/1/32 | 200000 | 184665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 5/15/33 | 500000 | 505471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 7/15/34 | 1000000 | 1059214 |
|  Series R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 8/15/30 | 250000 | 219318 |
|  Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 3/15/27 | 500000 | 490583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/15/28 | 150000 | 153376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 3/15/32 | 500000 | 466062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 3/15/33 | 300000 | 310608 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.98%), 6.500%, 3/15/55(k) | 500000 | 522959 |
|  FirstEnergy Transmission LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1/15/33§ | 500000 | 498280 |
|  Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 4/1/28 | 585000 | 600242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 5/15/28 | 375000 | 379458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 5/15/30 | 500000 | 509400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 5/15/33 | 500000 | 507879 |
|  Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 5/30/27 | 250000 | 247043 |
|  Fortis, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.055%, 10/4/26(x) | 750000 | 741824 |
|  Georgia Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 3/30/27 | 500000 | 494619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 5/16/28 | 500000 | 508164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 3/15/31 | 850000 | 870419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 5/15/32 | 250000 | 252937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 5/17/33 | 500000 | 509335 |
|  Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 9/15/29 | 350000 | 331424 |
|  Indiana Michigan Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 5/15/28 | 1250000 | 1242536 |
|  Interstate Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 9/26/28 | 450000 | 449234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 4/1/29 | 500000 | 489810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 6/1/30 | 125000 | 113981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 6/29/35 | 1125000 | 1170641 |
|  ITC Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 11/15/27 | 400000 | 392993 |
|  Jersey Central Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 1/15/31§ | 1000000 | 997385 |
|  MidAmerican Energy Co. |  |  |
|  3.100%, 5/1/27 | 1000000 | 987961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 4/15/29 | 850000 | 838057 |
|  Mississippi Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 3/30/28 | 250000 | 248967 |
|  NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 1/15/27 | 400000 | 388781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 5/1/27 | 1500000 | 1487438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 7/15/27(x) | 500000 | 504346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 2/28/28 | 500000 | 508660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 6/15/28(x) | 750000 | 708665 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/1/29 | $500000 | $488717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/28/30 | 500000 | 515203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 6/1/30 | 2500000 | 2280959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.440%, 1/15/32 | 400000 | 352943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/15/32 | 150000 | 153217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 2/28/33 | 500000 | 509442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/15/34(x) | 500000 | 513306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 3/15/35 | 500000 | 517012 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.46%), 6.750%, 6/15/54(k) | 1000000 | 1073750 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.05%), 6.375%, 8/15/55(k) | 500000 | 517250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 5/1/79 | 500000 | 500382 |
|  Northern States Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 4/1/31 | 300000 | 272226 |
|  NSTAR Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 5/15/27 | 500000 | 493531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 5/15/29 | 500000 | 484430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 8/15/31 | 500000 | 437200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/1/35 | 85000 | 86665 |
|  Ohio Power Co. Series Q |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 1/15/31 | 235000 | 203268 |
|  Oklahoma Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 8/15/28 | 350000 | 347628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 1/15/33 | 350000 | 364156 |
|  Oncor Electric Delivery Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 5/15/28(x) | 500000 | 502975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 11/15/28 | 1250000 | 1235047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 5/15/30 | 185000 | 173312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 6/1/32 | 95000 | 92692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 9/15/32 | 180000 | 179464 |
|  Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 6/15/27(x) | 500000 | 509068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 8/1/27 | 750000 | 721190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/15/28 | 520000 | 500176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 1/15/29 | 500000 | 523715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 3/1/29 | 350000 | 346261 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 7/1/30 | 3500000 | 3472132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/1/31 | 1085000 | 996224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 1/15/33 | 85000 | 89881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 6/15/33 | 500000 | 536168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 5/15/34 | 500000 | 518513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 3/1/35 | 500000 | 512698 |
|  PacifiCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 2/15/34 | 2000000 | 2045260 |
|  PECO Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 6/15/33 | 210000 | 214653 |
|  PPL Capital Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 9/1/34 | 115000 | 117279 |
|  PPL Electric Utilities Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 2/15/34 | 1000000 | 1013667 |
|  Public Service Co. of Colorado |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 6/15/28 | 350000 | 347751 |
|  Public Service Co. of New Hampshire Series V |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 6/15/31 | 290000 | 259144 |
|  Public Service Co. of Oklahoma |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 1/15/33 | 200000 | 205246 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series J |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 8/15/31 | 250000 | 220372 |
|  Public Service Electric & Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 5/1/28 | 500000 | 496449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 9/1/28 | 300000 | 297121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 5/15/29 | 250000 | 242379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 1/15/30 | 165000 | 153523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 8/15/31 | 235000 | 205670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 8/1/33 | 500000 | 518174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 8/15/35 | 355000 | 356837 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series Q |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 3/1/35 | 115000 | 117404 |
|  Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 3/1/28 | 310000 | 315359 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 8/1/29 | 660000 | 618039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 6/1/30 | 655000 | 587412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 6/1/31 | 750000 | 771485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 2/1/32 | 315000 | 276979 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 6/1/27 | 500000 | 502182 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series G |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 6/1/31 | 500000 | 442371 |
|  Southern Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.113%, 8/1/27(e) | 500000 | 508476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 6/15/28 | 500000 | 509542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/15/29 | 200000 | 207890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 10/15/32 | 310000 | 327884 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.07%), 6.375%, 3/15/55(k) | 500000 | 531426 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 21-B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 3/15/28 | 210000 | 198342 |
|  Southwestern Electric Power Co. Series K |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 10/1/26 | 500000 | 493164 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series M |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 9/15/28 | 750000 | 747284 |
|  System Energy Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 12/15/34 | 185000 | 185585 |
|  Tampa Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 3/15/31 | 140000 | 126295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/1/35 | 350000 | 354441 |
|  Tucson Electric Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 8/1/30 | 225000 | 196863 |
|  Union Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 6/15/27 | 500000 | 492137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/15/29 | 500000 | 489787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 4/15/35 | 160000 | 164567 |
|  Virginia Electric and Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 11/15/31 | 500000 | 442928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/1/33 | 500000 | 508047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 8/15/33 | 500000 | 515606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 8/15/34 | 105000 | 106273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/15/35 | 250000 | 253741 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/15/27 | 750000 | 744111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 4/1/28 | 500000 | 497984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 7/15/29 | 175000 | 167126 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 11/15/26 | $500000 | $493419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 5/15/27 | 390000 | 388167 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 9/15/35 | 500000 | 497743 |
|  Wisconsin Electric Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 6/15/28 | 310000 | 291798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 10/1/34 | 500000 | 498833 |
|  Wisconsin Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 10/15/27 | 350000 | 342610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 9/16/31 | 250000 | 216406 |
|  Xcel Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 12/1/26 | 500000 | 495091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 3/15/27 | 415000 | 400842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/15/28 | 500000 | 498821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 12/1/29 | 350000 | 325862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.350%, 11/15/31 | 500000 | 438834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 8/15/33 | 250000 | 258502 |
|  |  | 94949876 |
|  ***Gas Utilities (0.1%)*** |  |  |
|  Atmos Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/15/27 | 310000 | 305874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 9/15/29 | 800000 | 755626 |
|  CenterPoint Energy Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/1/28 | 1000000 | 1026213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/1/28 | 500000 | 497828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 7/1/32 | 100000 | 98525 |
|  National Fuel Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/1/26 | 250000 | 252504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 9/15/27 | 300000 | 298046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 9/1/28 | 300000 | 302164 |
|  Piedmont Natural Gas Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/1/29 | 500000 | 487702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/15/31 | 380000 | 343591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 2/15/35 | 500000 | 507428 |
|  Southern California Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 4/15/27 | 280000 | 275610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 6/15/35 | 1000000 | 1037688 |
|  Southwest Gas Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 3/23/28 | 335000 | 343985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 6/15/30 | 500000 | 454086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 3/15/32 | 150000 | 143767 |
|  Spire Missouri, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2034 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 8/15/34 | 220000 | 226071 |
|  |  | 7356708 |
|  ***Independent Power and Renewable Electricity Producers (0.0%)†*** |  |  |
|  AES Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 6/1/28 | 500000 | 509970 |
|  Constellation Energy Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 3/1/28 | 310000 | 320309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 3/1/33 | 355000 | 378400 |
|  Southern Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/1/30 | 125000 | 124163 |
|  |  | 1332842 |
|  ***Multi-Utilities (0.5%)*** |  |  |
|  Ameren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 3/15/27 | 500000 | 484956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 3/15/28 | 375000 | 353596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 3/15/35 | 250000 | 256942 |
|  Ameren Illinois Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 5/15/28 | 350000 | 348598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.550%, 11/15/30 | 210000 | 183433 |
|  Black Hills Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 3/15/28 | 200000 | 207274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 10/15/29 | 250000 | 237366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 6/15/30 | 315000 | 288665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 1/31/31 | 225000 | 224948 |
|  CMS Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.96%), 6.500%, 6/1/55(k) | 1000000 | 1032500 |
|  Consolidated Edison Co. of New York, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 5/15/28 | 550000 | 546714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 6/15/31 | 750000 | 682115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/1/33 | 500000 | 519197 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 11/15/27 | 300000 | 294701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/1/28 | 500000 | 499374 |
|  Consumers Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 3/1/28 | 500000 | 506817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 11/15/28 | 750000 | 744288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 2/15/29 | 500000 | 513191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 1/15/30 | 115000 | 117372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 8/15/32 | 335000 | 317299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 5/15/35 | 175000 | 178053 |
|  Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 6/1/28 | 500000 | 500900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 3/15/35 | 250000 | 256354 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.26%), 6.000%, 2/15/56(k) | 500000 | 503420 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 8/15/32 | 250000 | 244670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/15/31 | 455000 | 402455 |
|  DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 10/1/26 | 750000 | 740114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 7/1/27 | 130000 | 131675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 6/1/28 | 415000 | 422075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 3/1/30 | 250000 | 234916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 4/1/30 | 500000 | 516370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 6/1/34 | 1000000 | 1061178 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 6/15/29(x) | 164000 | 158550 |
|  NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.490%, 5/15/27 | 1250000 | 1237144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/30/28 | 450000 | 461095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 7/1/29 | 175000 | 180404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 9/1/29 | 350000 | 333977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 6/30/33 | 210000 | 217121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 7/15/35 | 250000 | 255302 |
|  Public Service Enterprise Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.600%, 8/15/30 | 500000 | 437986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 11/15/31(x) | 500000 | 442207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 10/15/33 | 500000 | 539418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 3/15/35 | 115000 | 118557 |
|  Puget Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.379%, 6/15/28 | 625000 | 591244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.224%, 3/15/32 | 355000 | 340595 |
|  San Diego Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 8/15/28 | 500000 | 512750 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series VVV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 10/1/30(x) | 235000 | 207480 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series XXX |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/15/32 | $500000 | $457691 |
|  Sempra |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/15/27 | 500000 | 491112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 4/1/29 | 445000 | 436551 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.87%), 4.125%, 4/1/52(k) | 40000 | 39032 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.63%), 6.400%, 10/1/54(k) | 1000000 | 1017500 |
|  Southern Co. Gas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 9/15/32 | 250000 | 256252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 9/15/33 | 360000 | 380613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 9/15/34 | 500000 | 499773 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 9/15/35 | 125000 | 125505 |
|  WEC Energy Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 10/1/27 | 355000 | 361554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 10/15/27 | 500000 | 473793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1/15/28 | 250000 | 253597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 12/15/28 | 500000 | 471399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 10/15/30 | 172000 | 152199 |
|  |  | 25001927 |
|  ***Water Utilities (0.1%)*** |  |  |
|  American Water Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 9/1/28 | 750000 | 745050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 6/1/29 | 500000 | 488370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 6/1/31 | 400000 | 358216 |
|  Essential Utilities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.566%, 5/1/29 | 300000 | 292022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 8/15/35 | 350000 | 351416 |
|  |  | 2235074 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 130876427 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  | 1558929198 |
|  **Foreign Government Securities (2.2%)** |  |  |
|  Canada Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/26/28 | 780000 | 781482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/30/29 | 2335000 | 2399642 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/18/30 | 1500000 | 1514648 |
|  Export Development Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/25/27 | 1000000 | 986035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 2/14/28 | 750000 | 753247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 2/13/29 | 1500000 | 1514268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/20/30 | 1000000 | 1009382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/5/34 | 295000 | 307204 |
|  Export-Import Bank of Korea |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 12/29/26 | 550000 | 530750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 1/18/27 | 364000 | 353429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 4/21/27 | 1500000 | 1464810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 9/15/27 | 323000 | 325003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/11/28 | 220000 | 225500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 1/14/30(x) | 1000000 | 1033790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 2/9/31 | 750000 | 654405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 1/18/32 | 356000 | 314658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 1/11/33 | 260000 | 271502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 9/18/33 | 345000 | 362077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 1/14/35(x) | 200000 | 213070 |
|  Italian Republic Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 10/17/29 | 1000000 | 954040 |
|  Japan Bank for International Cooperation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 11/4/26 | 1000000 | 982515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 7/22/27 | 360000 | 364245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 11/16/27 | 475000 | 464235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 7/19/28 | 200000 | 204115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/31/28 | 2000000 | 1980679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/16/29 | 750000 | 705319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/17/29 | 430000 | 399646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 1/21/31 | 600000 | 522339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 1/24/31 | 1000000 | 1013915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 4/15/31 | 1200000 | 1067232 |
|  Japan International Cooperation Agency |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 4/27/27 | 690000 | 676252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 5/25/27 | 750000 | 738964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 6/12/28 | 500000 | 492052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/21/29 | 200000 | 204547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 4/28/31 | 595000 | 522278 |
|  Oriental Republic of Uruguay |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/27/27 | 2500000 | 2517500 |
|  Province of Alberta |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 3/15/28 | 1250000 | 1233705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 6/26/29 | 500000 | 509090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.300%, 7/22/30 | 1100000 | 970345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/24/34(x) | 1500000 | 1510680 |
|  Province of British Columbia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 1/24/28 | 1500000 | 1530192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 4/24/29 | 500000 | 515634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 8/27/30 | 1590000 | 1588548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.300%, 1/29/31 | 400000 | 344922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 7/6/33 | 680000 | 676134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/12/34 | 1000000 | 1025296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 6/11/35 | 1485000 | 1520066 |
|  Province of Manitoba |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/25/28 | 585000 | 546053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 7/27/33 | 500000 | 491306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 5/31/34 | 1000000 | 1024338 |
|  Province of New Brunswick |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 2/24/28 | 600000 | 597993 |
|  Province of Ontario |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 5/19/27 | 400000 | 393544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 1/18/29 | 1000000 | 1009766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/2/29 | 1250000 | 1163647 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 1/15/30 | 1000000 | 1032457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 10/7/30 | 1000000 | 872987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.600%, 2/25/31 | 1000000 | 886258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 10/14/31(x) | 1500000 | 1321302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 6/11/35 | 1000000 | 1029886 |
|  Province of Quebec |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 4/12/27 | 1750000 | 1720111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/3/29 | 2500000 | 2543777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.350%, 5/28/30(x) | 1000000 | 892715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 4/21/31 | 1250000 | 1115169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 9/5/34 | 1000000 | 987107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 8/28/35(x) | 1000000 | 1010185 |
|  Republic of Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 1/31/27 | 200000 | 196400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 1/31/31 | 325000 | 294288 |
|  Republic of Indonesia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 9/20/27 | 200000 | 200325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/11/28 | 1000000 | 988000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 1/11/28 | 400000 | 404000 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 4/24/28 | $800000 | $800000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/11/29 | 2500000 | 2545000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 7/28/31 | 1250000 | 1100781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 3/31/32 | 200000 | 188500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 9/20/32 | 200000 | 201000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 1/11/33 | 400000 | 403400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 2/10/34 | 2000000 | 1993000 |
|  Republic of Korea |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 1/19/27 | 1750000 | 1725938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/20/28 | 1000000 | 988860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 6/19/29 | 505000 | 481144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 10/15/31 | 210000 | 185413 |
|  Republic of Panama |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.160%, 1/23/30 | 1500000 | 1396500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 3/1/31 | 1500000 | 1655250 |
|  Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.783%, 1/23/31 | 2240000 | 2065840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 1/15/34 | 2000000 | 1740000 |
|  Republic of Philippines |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.170%, 10/13/27 | 200000 | 203944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/1/28 | 1150000 | 1119812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 7/17/28 | 240000 | 243600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 1/14/29 | 975000 | 963422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.457%, 5/5/30 | 3360000 | 3124800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 5/14/34 | 2000000 | 2096000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/4/35 | 500000 | 531250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 3/5/35 | 1000000 | 1006250 |
|  Republic of Poland |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 3/18/29 | 500000 | 509175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 9/18/34 | 2000000 | 2044200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 2/12/35 | 1050000 | 1088017 |
|  State of Israel Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 1/17/28 | 750000 | 732187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 3/12/29 | 500000 | 513906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 1/15/30 | 515000 | 474766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/17/33 | 220000 | 214060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/12/34 | 1250000 | 1283594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 2/19/35 | 660000 | 682069 |
|  Svensk Exportkredit AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 3/22/27 | 500000 | 488842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 6/14/28 | 500000 | 504357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 7/29/30 | 755000 | 752043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/4/30 | 600000 | 626380 |
|  United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 3/28/27 | 2745000 | 2740883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 1/11/28 | 855000 | 846022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/22/29 | 455000 | 456365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 4/16/30 | 2500000 | 2360000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5/13/30 | 1000000 | 1052500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 3/22/31 | 1000000 | 994000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 3/22/33 | 1500000 | 1500000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/12/34 | 2000000 | 1740000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 9/22/35 | 1550000 | 1541475 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Foreign Government Securities** |  | 110875546 |
|  **Municipal Bonds (0.1%)** |  |  |
|  Arizona Salt River Project, Agricultural Improvement & Power District, Revenue Bonds, Series 2010A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.839%, 1/1/41 | 2000 | 1965 |
|  Central Puget Sound Regional Transit Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.491%, 11/1/39 | 4000 | 4131 |
|  City of Chicago, International Airport, Revenue Bonds, Series 2010B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.395%, 1/1/40 | 4000 | 4472 |
|  City of New York Municipal Water Finance Authority, Water & Sewer System, Revenue Bonds, Series 2010EE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.011%, 6/15/42 | 4000 | 4197 |
|  City of New York, Municipal Water Finance Authority, Water & Sewer System, Revenue Bonds, Series 2010GG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.724%, 6/15/42 | 2000 | 2036 |
|  County of Los Angeles Community College District, General Obligation Bonds, Series 2008-E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 8/1/49 | 4000 | 4498 |
|  County of Nashville & Davidson Convention Center Authority, Revenue Bonds, Series 2010B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.731%, 7/1/43 | 204000 | 219726 |
|  Florida State Board of Administration Finance Corp. Revenue Bonds, Series 2020A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.154%, 7/1/30 | 500000 | 457420 |
|  Georgia Municipal Electric Authority, Revenue Bonds, Series 2010A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.055%, 4/1/57 | 3000 | 3376 |
|  New Jersey Economic Development Authority, NATL-RE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.425%, 2/15/29 | 1000000 | 1051252 |
|  Ohio State University (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.910%, 6/1/40 | 4000 | 3986 |
|  Pennsylvania Turnpike Commission, Revenue Bonds, Series 2010B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.511%, 12/1/45 | 1000 | 995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.561%, 12/1/49 | 3000 | 2961 |
|  Regents of the University of California Medical Center Pooled Revenue, Series 2022 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.132%, 5/15/32 | 250000 | 247323 |
|  San Diego County Water Authority 6.138%, 5/1/49 | 4000 | 4178 |
|  San Francisco Bay Area Toll Authority, Subordinate Toll Bridge, Revenue Bonds, Series 2010-S1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.043%, 4/1/50 | 4000 | 4595 |
|  State Board of Administration Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.705%, 7/1/27 | 500000 | 481409 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  State of California Federally Taxable General Obligation Bonds Various Purpose |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/1/28 | $250000 | $248950 |
|  State of New York Urban Development Corp., Personal Income Tax, Revenue Bonds, Series 2009E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.770%, 3/15/39 | 2000 | 2068 |
|  State of Wisconsin |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.154%, 5/1/27 | 1300000 | 1289216 |
|  University of California |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.316%, 5/15/27 | 250000 | 240821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.614%, 5/15/30 | 125000 | 113098 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Municipal Bonds** |  | 4392673 |
|  **Supranational (2.5%)** |  |  |
|  African Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/14/28 | 800000 | 812706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/18/29 | 2000000 | 1975918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/18/30(x) | 750000 | 756710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 6/12/35 | 1195000 | 1221719 |
|  Asian Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 1/12/27 | 2500000 | 2464772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 1/20/27 | 2000000 | 1943021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/2/27 | 2500000 | 2441729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 1/14/28 | 2000000 | 2030509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 1/19/28 | 1000000 | 979401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/25/28 | 1040000 | 1041975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 6/9/28 | 500000 | 469309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/25/28 | 1531000 | 1565565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 9/26/28 | 400000 | 393652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/6/29 | 1000000 | 1021213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 3/15/29 | 1000000 | 940681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 9/19/29 | 500000 | 463107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 1/24/30 | 1000000 | 925557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/28/30 | 1300000 | 1298234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 10/8/30 | 1000000 | 860975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 3/4/31 | 600000 | 531281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 4/27/32 | 500000 | 475369 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 9/28/32 | 400000 | 397120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/12/33 | 85000 | 84868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/14/33 | 500000 | 493780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/22/35 | 500000 | 507715 |
|  Asian Infrastructure Investment Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 9/14/27 | 400000 | 400488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/15/28 | 535000 | 534593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/16/30 | 3000000 | 3087720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 3/13/34 | 500000 | 505050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/21/35 | 140000 | 143863 |
|  Corp. Andina de Fomento |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 2/8/27 | 650000 | 631243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/26/27 | 440000 | 452837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 1/7/28 | 1000000 | 1002181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/22/30 | 1000000 | 1034756 |
|  Council of Europe Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 1/26/28(x) | 500000 | 499033 |
|  European Bank for Reconstruction & Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/9/28 | 1400000 | 1421783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 3/13/34 | 1500000 | 1500393 |
|  European Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 10/26/26 | 1111000 | 1075697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 3/15/27 | 2500000 | 2418010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/19/27 | 1500000 | 1513881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/24/27 | 1000000 | 979460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 10/21/27(x) | 980000 | 921430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3/15/28 | 800000 | 804273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/15/28 | 1500000 | 1508517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/16/28(x) | 750000 | 767728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/15/29 | 2000000 | 2018158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 3/15/29(x) | 800000 | 749826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/15/29 | 833000 | 862692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 10/9/29 | 410000 | 377604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 3/14/30 | 2000000 | 2060954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 7/15/30 | 960000 | 953913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 9/23/30(x) | 750000 | 648070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/15/30 | 1645000 | 1651372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 2/14/31 | 1475000 | 1292259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 5/13/31 | 750000 | 667336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/10/31 | 250000 | 256806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 8/16/32(x) | 2592000 | 2634567 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 2/14/33 | 815000 | 801872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 2/13/34 | 3500000 | 3509450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/12/35 | 570000 | 590088 |
|  Inter-American Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 1/13/27 | 1500000 | 1452735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 9/16/27 | 1000000 | 942963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/12/28 | 800000 | 805672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 7/20/28 | 1250000 | 1160019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 9/18/28 | 750000 | 735702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 6/18/29 | 1000000 | 948087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/14/29 | 800000 | 792704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/15/30 | 2000000 | 2059894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 1/13/31 | 3800000 | 3310828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/17/31 | 800000 | 787803 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/13/33 | 800000 | 822821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 7/17/34 | 1000000 | 1014467 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 7/16/35 | 415000 | 420226 |
|  Inter-American Investment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 2/15/28 | 750000 | 755774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/14/29 | 2000000 | 2022455 |
|  International Bank for Reconstruction & Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 10/27/26 | 2000000 | 1957234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 6/15/27 | 1200000 | 1189046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 11/24/27 | 1855000 | 1743389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 4/20/28 | 2000000 | 1889057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 8/1/28 | 1000000 | 1025133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 9/13/28 | 2400000 | 2228070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/16/29 | 2000000 | 2010013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 10/23/29 | 1350000 | 1249633 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 2/14/30 | 1030000 | 1035109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/20/30 | 2000000 | 2029755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/25/30 | 2475000 | 2498665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 8/26/30 | 1685000 | 1457756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 2/10/31 | 8500000 | 7439032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 11/3/31 | 1667000 | 1460363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 1/15/32 | 3000000 | 3116250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/29/32 | 2000000 | 1834866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/28/34 | 1476000 | 1449970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/27/35 | 1000000 | 1013541 |
|  International Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 10/8/26 | 1000000 | 968427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/13/28 | 450000 | 459404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 7/2/29 | 1400000 | 1423733 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 8/27/30 | 750000 | 648494 |
|  Nordic Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 9/8/27 | 643000 | 637221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/14/28 | 400000 | 406259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/28/29 | 2000000 | 2034223 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Supranational** |  | 127611582 |
|  **U.S. Government Agency Securities (1.4%)** |  |  |
|  FFCB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/14/28 | $1000000 | $1012805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.040%, 1/25/29 | 10000000 | 9154253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/1/30 | 2000000 | 2023241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.380%, 1/14/31 | 15000000 | 13160480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.970%, 9/17/35 | 250000 | 249125 |
|  FHLB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/9/26 | 5000000 | 5018014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/17/26(x) | 2000000 | 2020399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/10/27 | 5000000 | 5022723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/4/27 | 800000 | 802865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/9/27(x) | 7000000 | 6975043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 6/9/28 | 500000 | 500147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/16/28(x) | 5000000 | 4941470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 7/15/36 | 3000 | 3280 |
|  FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 2/11/28 | 1000000 | 1001530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 9/19/30 | 250000 | 249299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 9/26/30 | 500000 | 499398 |
|  FNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 12/18/26 | 5000000 | 4830932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 10/8/27 | 9000000 | 8498089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 8/5/30(x) | 5000000 | 4366143 |
|  Tennessee Valley Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/1/30(x) | 660000 | 659459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/1/34(x) | 730000 | 737779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 5/15/35 | 835000 | 860080 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 2/1/27 | 1000000 | 988765 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Government Agency Securities** |  | 73575319 |
|  **U.S. Treasury Obligations (54.5%)** |  |  |
|  U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/26(x) | 10000000 | 10092781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/26 | 20000000 | 20088536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/15/26 | 48000000 | 47095810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/31/26 | 15000000 | 15099157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 1/31/27 | 20000000 | 20111866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 2/15/27 | 39000000 | 38259952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 2/15/27 | 25000000 | 25146617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 2/28/27 | 20000000 | 20122750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 3/15/27 | 15000000 | 15122287 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3/31/27 | 15000000 | 15046928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/30/27 | 20000000 | 20032442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 5/31/27 | 15000000 | 15054183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 6/30/27 | 20000000 | 20039402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 7/15/27 | 20000000 | 20254738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/31/27 | 15000000 | 15063848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/15/27 | 25000000 | 24383760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/31/27 | 20000000 | 20002380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 9/15/27 | 25000000 | 24891407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 9/30/27 | 17000000 | 15949633 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/30/27 | 20000000 | 19960938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/15/27 | 15000000 | 15078363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/27 | 15000000 | 15153462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 11/15/27 | 14000000 | 13612906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/27 | 20000000 | 20209524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 11/30/27 | 36500000 | 34256221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/30/27 | 10000000 | 10054705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/15/27 | 10000000 | 10084627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 12/31/27 | 42000000 | 39319245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/31/27 | 15000000 | 15084963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/15/28 | 15000000 | 15207762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/31/28 | 15000000 | 14963015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 2/15/28 | 23500000 | 23037092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/15/28 | 20000000 | 20287540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/29/28 | 15000000 | 15135279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3/15/28 | 15000000 | 15098434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 3/31/28 | 17500000 | 17508355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/30/28 | 29000000 | 28922898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/28 | 60000000 | 58884696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 5/31/28 | 81000000 | 76159051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5/31/28 | 16000000 | 16005194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/15/28 | 15000000 | 15101571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/30/28 | 25000000 | 25249983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/15/28 | 20000000 | 20134374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 7/31/28 | 20000000 | 20268666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 8/15/28 | 49000000 | 47998984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/15/28 | 15000000 | 15004068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 8/31/28 | 10000000 | 9313076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/31/28 | 25000000 | 25515037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 9/15/28 | 10000000 | 9933594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/28 | 20000000 | 20566758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/28 | 25000000 | 25896455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 11/15/28 | 77500000 | 76334423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/28 | 15000000 | 15328096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/28 | 38000000 | 38130800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 1/31/29 | 10000000 | 9409986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/31/29 | 25000000 | 25273422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 2/15/29 | 64000000 | 61945690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/28/29 | 35000000 | 35675237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/31/29 | 50000000 | 50769135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/30/29 | 10000000 | 10319564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/29 | 69000000 | 66010658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/31/29 | 25000000 | 25705525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 6/30/29 | 20000000 | 20402070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/31/29 | 10000000 | 10113559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/31/29 | 17000000 | 16961286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/30/29 | 10000000 | 9932678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/31/29 | 15000000 | 15173368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/29 | 20000000 | 20323096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/30/29 | 20000000 | 20327366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/31/29 | 15000000 | 15101943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/31/29 | 15000000 | 15394329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/31/30 | 15000000 | 14878100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 2/15/30 | 17500000 | 15961899 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/28/30 | 10000000 | 10119126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 3/31/30 | 15000000 | 14942466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/31/30 | 20000000 | 20233882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/30/30 | 15000000 | 14862890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 5/31/30 | 13000000 | 13012149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 6/30/30 | 15000000 | 15011627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/30/30 | 12000000 | 12076094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/31/30 | 7500000 | 7547509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/31/30 | 15000000 | 15173293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 8/15/30 | 35000000 | 30180318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/31/30 | 20000000 | 19903460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 8/31/30 | 15000000 | 15256628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/30/30 | 10000000 | 9951563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/30 | 10000000 | 10396939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/30 | 15000000 | 15772293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 11/15/30 | 15000000 | 13010370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/30 | 7500000 | 7714471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/30 | 20000000 | 19984396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/31/31 | 18500000 | 18700890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 2/15/31 | 21300000 | 18616694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/31/31 | 15000000 | 15246025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/30/31 | 15000000 | 15617631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 5/15/31 | 40000000 | 35625884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 5/31/31 | 10000000 | 10412510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 6/30/31 | 12000000 | 12265340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 7/31/31 | 15000000 | 15232999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 8/15/31 | 45000000 | 38931637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/31/31 | 15000000 | 14935930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/30/31 | 15000000 | 14827116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 11/15/31 | 41000000 | 35489862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/30/31 | 15000000 | 15215914 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal<br>Amount** | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/31/31 | $| 10000000 | $10347817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/15/32 |  | 40000000 | 35489572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 2/29/32 |  | 15000000 | 15204757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/31/32 |  | 10000000 | 10134397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/30/32 |  | 10000000 | 10060709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/32 |  | 22000000 | 20682279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 5/31/32 |  | 18000000 | 18232285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/30/32 |  | 12000000 | 12064684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/31/32 |  | 15000000 | 15075134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 8/15/32 |  | 40000000 | 37190552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/31/32 |  | 13000000 | 12964610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 9/30/32 |  | 5000000 | 4984375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/32 |  | 17000000 | 17197917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/15/33 |  | 32000000 | 31070013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 5/15/33 |  | 37000000 | 35543606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/33 |  | 35000000 | 34718565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/33 |  | 36000000 | 37217761 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/15/34 |  | 18000000 | 17951765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/15/34 |  | 27500000 | 28136210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/34 |  | 33000000 | 32498136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/15/34 |  | 32000000 | 32363200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/15/35 |  | 38000000 | 39492530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/35 |  | 29500000 | 29771371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 8/15/35(x) |  | 22000000 | 22178750 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  |  | 2807176444 |
|  **Total Long-Term Debt Securities (90.9%)**<br> *(Cost $4,744,632,055)* |  |  | 4684914703 |
|  | **Number of<br>Shares** | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  PREFERRED STOCKS: |  |  |  |
|  **Financials (0.0%)†** |  |  |  |
|  ***Financial Services (0.0%)†*** |  |  |  |
|  FHLMC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series Z |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (0.00%, 7.88% Floor), 8.375%(k)(x)(y)\* |  | 17000 | 265880 |
|  FNMA, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series S |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (0.00%, 7.75% Floor), 8.250%(k)(y)\* |  | 22000 | 365200 |
|  **Total Preferred Stocks (0.0%)†**<br>*(Cost $18,166)* | **Total Preferred Stocks (0.0%)†**<br>*(Cost $18,166)* | **Total Preferred Stocks (0.0%)†**<br>*(Cost $18,166)* | 631080 |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |  |
|  **Fixed Income (7.9%)** |  |  |  |
|  Schwab Intermediate-Term U.S. Treasury ETF(x) |  | 1000000 | 25130000 |
|  Schwab Short-Term U.S. Treasury ETF |  | 1200000 | 29280000 |
|  Vanguard Intermediate- Term Treasury ETF |  | 2900000 | 174087000 |
|  Vanguard Short-Term Treasury ETF(x) |  | 3000000 | 176550000 |
|  **Total Exchange Traded Funds (7.9%)**<br>(*Cost $414,627,605)* | **Total Exchange Traded Funds (7.9%)**<br>(*Cost $414,627,605)* | **Total Exchange Traded Funds (7.9%)**<br>(*Cost $414,627,605)* | 405047000 |
|  SHORT-TERM INVESTMENTS: |  |  |  |
|  **Investment Companies (1.1%)** |  |  |  |
|  Goldman Sachs Financial Square Government Fund 4.03% (7 day yield) (xx) |  | 1000000 | 1000000 |

---

---

| | | |
|:---|:---|:---|
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 55924083 | 55924083.0 |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 1000000 | 1000000.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 57924083.0 |
|  **Total Short-Term Investments (1.1%)**<br>*(Cost $57,924,083)* | **Total Short-Term Investments (1.1%)**<br>*(Cost $57,924,083)* | 57924083.0 |
|  **Total Investments in Securities (99.9%)**<br>*(Cost $5,217,201,909)* | **Total Investments in Securities (99.9%)**<br>*(Cost $5,217,201,909)* | 5148516866.0 |
|  **Other Assets Less Liabilities (0.1%)** | **Other Assets Less Liabilities (0.1%)** | 6078974.0 |
|  **Net Assets (100%)** | **Net Assets (100%)** | $5154595840.0 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

---

| | |
|:---|:---|
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At September 30, 2025, the market value of these securities amounted to $7,543,974 or 0.1% of net assets.*  |

---

*(e)* *Step Bond – Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of September 30, 2025. Maturity date disclosed is the ultimate maturity date.* 

*(k)* *Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of September 30, 2025.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(y)* *Securities are perpetual and, thus, do not have a predetermined maturity date. The coupon rate for these securities are fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $127,696,848. This was collateralized by $72,453,389 of various U.S. Government Treasury Securities, ranging from 0.000% – 4.875%, maturing 10/15/25 – 2/15/55 and by cash of $57,924,083 which was subsequently invested in investment companies.* 

*Glossary:* 

*CME — Chicago Mercantile Exchange* 

*FFCB — Federal Farm Credit Bank* 

*FHLB — Federal Home Loan Bank* 

*FHLMC — Federal Home Loan Mortgage Corp.* 

*Floor — The minimum dividend yield an investor can expect to receive* 

*FNMA — Federal National Mortgage Association* 

*ICE — Intercontinental Exchange* 

*NATL-RE — Insured by National Public Finance Guarantee Corp.* 

*REIT — Real Estate Investment Trust* 

*SOFR — Secured Overnight Financing Rate* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE BOND INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Asset-Backed Securities** | $— | $2353941 | $— | $2353941 |
|  **Corporate Bonds** |  |  |  |  |
|  Communication Services |  | 86198271 |  | 86198271 |
|  Consumer Discretionary |  | 73452532 |  | 73452532 |
|  Consumer Staples |  | 91476573 |  | 91476573 |
|  Energy |  | 91038241 |  | 91038241 |
|  Financials |  | 646644837 |  | 646644837 |
|  Health Care |  | 129748374 |  | 129748374 |
|  Industrials |  | 94870931 |  | 94870931 |
|  Information Technology |  | 112775987 |  | 112775987 |
|  Materials |  | 38027118 |  | 38027118 |
|  Real Estate |  | 63819907 |  | 63819907 |
|  Utilities |  | 130876427 |  | 130876427 |
|  **Exchange Traded Funds** | 405047000 |  |  | 405047000 |
|  **Foreign Government Securities** |  | 110875546 |  | 110875546 |
|  **Municipal Bonds** |  | 4392673 |  | 4392673 |
|  **Preferred Stocks** |  |  |  |  |
|  Financials | 631080 |  |  | 631080 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 57924083 |  |  | 57924083 |
|  **Supranational** |  | 127611582 |  | 127611582 |
|  **U.S. Government Agency Securities** |  | 73575319 |  | 73575319 |
|  **U.S. Treasury Obligations** |  | 2807176444 |  | 2807176444 |
|  **Total Assets** | $**463602163** | $**4684914703** | $**—** | $**5148516866** |
|  **Total** | $**463602163** | $**4684914703** | $**—** | $**5148516866** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $46019475 |
|  Aggregate gross unrealized depreciation | (115132035) |
|  Net unrealized depreciation | $(69112560) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $5217629426 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Asset-Backed Securities (8.2%)** |  |  |
|  AASET Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.943%, 2/16/50§ | $239205 | $244430 |
|  Affirm Asset Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A 1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.610%, 2/15/29§ | 525000 | 527158 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.610%, 2/15/29§ | 150000 | 150617 |
|  American Credit Acceptance Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.440%, 10/12/29§ | 230226 | 231700 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.110%, 3/12/31§ | 255000 | 257165 |
|  AmeriCredit Automobile Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.410%, 8/18/27 | 346402 | 342675 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.770%, 4/19/27 | 154585 | 154397 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.570%, 3/20/28 | 450000 | 454509 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.430%, 1/18/29 | 360000 | 363794 |
|  Applebee's Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.720%, 6/7/55§ | 1000000 | 1000055 |
|  Aqua Finance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.540%, 7/17/46§ | 107873 | 100002 |
|  AutoNation Finance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.620%, 11/13/29§ | 180000 | 181762 |
|  Auxilior Term Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.180%, 12/15/28§ | 45394 | 45593 |
|  Avis Budget Rental Car Funding AESOP LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.440%, 2/22/28§ | 940000 | 953362 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.360%, 6/20/30§ | 120000 | 123889 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.120%, 8/20/31§ | 100000 | 102821 |
|  BHG Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1CON A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.810%, 4/17/35§ | 58600 | 60005 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2CON A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.840%, 9/17/36§ | 251164 | 252862 |
|  BMW Vehicle Lease Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.180%, 10/25/27 | 300000 | 300902 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.430%, 6/26/28 | 135000 | 136034 |
|  BofA Auto Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 11/20/29§ | 125000 | 125819 |
|  Bridgecrest Lending Auto Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.510%, 11/15/27 | 32329 | 32361 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.370%, 10/16/28 | 175000 | 176167 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.780%, 12/15/28 | 345000 | 346736 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.660%, 1/15/29 | 235000 | 235922 |
|  CarMax Auto Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 1/18/28 | 338983 | 340740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 10/15/29 | 665000 | 672023 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, 3/15/30 | 240000 | 242389 |
|  CarMax Select Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.770%, 9/17/29 | 380000 | 382647 |
|  Carvana Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-P1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.980%, 12/10/27§ | 179615 | 180226 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-P2 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.330%, 7/10/29 | 195000 | 196718 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-P4 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.640%, 1/10/30 | 120000 | 120733 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-P2 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/10/31 | 500000 | 504610 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-P3 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.040%, 11/11/30 | 155000 | 154845 |
|  Chesapeake Funding II LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 5/15/35§ | 152155 | 153102 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.520%, 5/15/36§ | 123237 | 124761 |
|  Citizens Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.110%, 4/17/28§ | 143413 | 144243 |
|  Compass Datacenters Issuer II LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.022%, 8/25/49§ | 195000 | 196096 |
|  Compass Datacenters Issuer III LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.656%, 2/25/50§ | 120000 | 122573 |
|  Consolidated Communications LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.506%, 5/20/55§ | 2000000 | 2060100 |
|  Credit Acceptance Auto Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.480%, 3/15/33§ | 174155 | 174700 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.610%, 7/15/33§ | 435000 | 440125 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3A C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.620%, 12/15/33§ | 100000 | 103653 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.020%, 3/15/35§ | 365000 | 369813 |
|  Crockett Partners Equipment Co. IIA LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1C A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 1/20/31§ | 275758 | 279205 |
|  CyrusOne Data Centers Issuer I LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.910%, 2/20/50§ | 350000 | 357411 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Dell Equipment Finance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.930%, 4/23/29§ | $412248 | $414787 |
|  DLLMT LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.340%, 3/22/27§ | 335787 | 337231 |
|  Drive Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.520%, 7/16/29 | 420000 | 421427 |
|  DT Auto Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.410%, 2/15/29§ | 9356 | 9359 |
|  Enterprise Fleet Financing LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.380%, 7/20/29§ | 15313 | 15313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.560%, 4/22/30§ | 151205 | 152203 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.160%, 9/20/30§ | 150000 | 152830 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.060%, 3/20/31§ | 245000 | 250361 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.820%, 2/20/29§ | 175000 | 177906 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.460%, 9/20/29§ | 430000 | 434268 |
|  Exeter Automobile Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4A C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.480%, 8/15/30 | 200000 | 201899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.740%, 1/16/29 | 630000 | 633178 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.390%, 9/17/29 | 85000 | 85340 |
|  Exeter Select Automobile Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.690%, 4/15/30 | 105000 | 106086 |
|  Flagship Credit Auto Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.810%, 5/15/29§ | 460000 | 463539 |
|  Ford Credit Auto Lease Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.720%, 6/15/28 | 220000 | 222256 |
|  Ford Credit Auto Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.370%, 10/17/33§ | 275000 | 270934 |
|  Frontier Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.600%, 8/20/53§ | 605000 | 614576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.190%, 6/20/54§ | 170000 | 173956 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.020%, 6/20/54§ | 1588000 | 1653434 |
|  GECU Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.630%, 8/15/28§ | 280028 | 281551 |
|  GLS Auto Receivables Issuer Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.770%, 11/15/28§ | 395000 | 398808 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.080%, 1/16/29§ | 205000 | 206752 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 7/17/28§ | 135000 | 135401 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.110%, 1/15/31§ | 150000 | 152439 |
|  GLS Auto Select Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.580%, 6/17/30§ | 62313 | 63074 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.590%, 10/15/29§ | 213447 | 215949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.430%, 12/17/29§ | 157686 | 158173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.710%, 4/15/30§ | 205385 | 206619 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.460%, 10/15/30§ | 180000 | 180444 |
|  GM Financial Automobile Leasing Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.660%, 2/21/28 | 295000 | 297751 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.170%, 8/21/28 | 390000 | 391526 |
|  GM Financial Revolving Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.170%, 6/12/34§ | 195000 | 189868 |
|  GreenSky Home Improvement Issuer Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 10/27/59§ | 54150 | 54842 |
|  GreenSky Home Improvement Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 6/25/59§ | 195000 | 200706 |
|  Hertz Vehicle Financing III LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.940%, 2/25/28§ | 630000 | 641045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.440%, 1/25/29§ | 375000 | 379928 |
|  Hertz Vehicle Financing LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.330%, 6/26/28§ | 400000 | 388276 |
|  Hilton Grand Vacations Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2A C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.570%, 1/25/37§ | 34914 | 35196 |
|  Huntington Auto Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.230%, 1/16/29§ | 270000 | 273044 |
|  Hyundai Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.360%, 12/17/29 | 175000 | 176544 |
|  LAD Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-4A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.390%, 10/16/28§ | 190000 | 191938 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.170%, 9/15/28§ | 125000 | 125843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.610%, 8/15/28§ | 210159 | 211542 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.520%, 3/15/29§ | $180000 | $180728 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.690%, 7/16/29§ | 470000 | 472460 |
|  M&T Bank Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.730%, 6/17/30§ | 150000 | 151660 |
|  M&T Equipment Notes, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.740%, 7/15/30§ | 208346 | 209573 |
|  Merchants Fleet Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.210%, 5/20/36§ | 259437 | 261055 |
|  Mercury Financial Credit Card Master Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.560%, 7/20/29§ | 355000 | 357817 |
|  MetroNet Infrastructure Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 8/20/55§ | 220000 | 223312 |
|  Mission Lane Credit Card Master Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-B A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.880%, 1/15/30§ | 330000 | 333320 |
|  MVW LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.320%, 2/20/43§ | 96802 | 98606 |
|  Navient Private Education Refi Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-GA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 10/15/68§ | 35715 | 34541 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-EA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.970%, 12/16/69§ | 676017 | 608928 |
|  New Economy Assets - Phase 1 Sponsor LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.910%, 10/20/61§ | 695000 | 577801 |
|  Octane Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 7/20/32§ | 256779 | 259526 |
|  OHA Credit Funding 2 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A D1R2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.025%, 1/21/38(l)§ | 2850000 | 2861320 |
|  OneMain Financial Issuance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-S1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.130%, 5/14/35§ | 515504 | 514976 |
|  OWN Equipment Fund I LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2M A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 12/20/32§ | 419149 | 426012 |
|  PenFed Auto Receivables Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 6/15/29§ | 190000 | 191257 |
|  Point Broadband Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.727%, 7/20/55§ | 3930000 | 3960491 |
|  Post Road Equipment Finance LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.590%, 11/15/29§ | 46510 | 46741 |
|  Prestige Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.530%, 2/15/28§ | 30536 | 30464 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 2/15/28§ | 302171 | 302820 |
|  Regional Management Issuance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.830%, 7/15/36§ | 150000 | 153466 |
|  Republic Finance Issuance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.910%, 8/20/32§ | 235000 | 237953 |
|  Santander Drive Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-4 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.420%, 11/15/27 | 13890 | 13887 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.090%, 5/15/30 | 115000 | 115850 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.770%, 11/15/30 | 155000 | 158303 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-4 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.770%, 12/15/28 | 325000 | 328836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-5 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.160%, 12/17/29 | 495000 | 504287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.630%, 1/16/29 | 293331 | 294864 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 1/16/29 | 265000 | 265653 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.670%, 8/15/29 | 340000 | 342824 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.630%, 10/16/28 | 325000 | 325951 |
|  SBNA Auto Lease Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.390%, 11/20/26§ | 96689 | 96990 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-B A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.560%, 11/22/27§ | 265000 | 266995 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-C A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.560%, 2/22/28§ | 105000 | 105356 |
|  SCF Equipment Leasing LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.520%, 1/20/32§ | 190000 | 194827 |
|  SCF Equipment Trust LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.110%, 11/21/33§ | 325000 | 331838 |
|  SEB Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.386%, 4/30/54§ | 240000 | 245623 |
|  SFS Auto Receivables Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.470%, 10/20/28§ | 275816 | 277854 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 6/20/30§ | 145000 | 145885 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 7/22/30§ | 145000 | 146636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.440%, 12/20/30§ | 495000 | 498953 |
|  Sierra Timeshare Receivables Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.140%, 6/20/41§ | 201998 | 204306 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  SMB Private Education Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-D A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.340%, 3/17/53§ | $139136 | $130641 |
|  SoFi Consumer Loan Program Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.820%, 6/25/34§ | 151519 | 152331 |
|  SoFi Professional Loan Program Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-A A2FX |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.540%, 5/15/46§ | 37164 | 35999 |
|  Stellantis Financial Underwritten Enhanced Lease Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-BA A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.270%, 1/22/29§ | 455000 | 456976 |
|  Stream Innovations Issuer Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.270%, 7/15/44§ | 66804 | 70055 |
|  Toyota Lease Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.960%, 11/20/28§ | 330000 | 329492 |
|  TRTX Issuer Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-FL6 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.532%, 9/18/42(l)§ | 4060000 | 4054962 |
|  USB Auto Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.490%, 6/17/30§ | 70000 | 70650 |
|  Volofin Finance DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.935%, 6/15/37§ | 286738 | 291294 |
|  VStrong Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.770%, 7/15/30§ | 48000 | 48701 |
|  Westlake Automobile Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3A C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.020%, 9/15/28§ | 615000 | 623188 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.560%, 2/15/28§ | 200000 | 201501 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.710%, 4/17/28§ | 265000 | 266206 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 8/15/28§ | 475000 | 478349 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.510%, 5/15/29§ | 140000 | 140861 |
|  Wheels Fleet Lease Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 4/18/38§ | 286286 | 288456 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.490%, 2/18/39§ | 198816 | 200907 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.870%, 6/21/39§ | 224085 | 226311 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 9/19/39§ | 207908 | 209948 |
|  World Omni Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-C A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.430%, 12/17/29 | 280000 | 281646 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-C A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 11/15/30 | 505000 | 506314 |
|  Zayo Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.953%, 6/20/55§ | 7135000 | 7338063 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.570%, 10/20/55§ | 1140000 | 1146987 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Asset- Backed Securities** |  | 61479975 |
|  **Collateralized Mortgage Obligations (1.9%)** |  |  |
|  Connecticut Avenue Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-R04 1B1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.606%, 3/25/42(l)§ | 2850000 | 3013617 |
|  FHLMC STACR REMIC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-DNA2 B1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.106%, 2/25/42(l)§ | 1380000 | 1437353 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-DNA6 M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.106%, 9/25/42(l)§ | 3700000 | 4018931 |
|  GNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-149 IP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/20/46 IO | 2064219 | 406485 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-120 EI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/20/47 IO | 1288842 | 200048 |
|  OBX Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-J3 AF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.808%, 10/25/55(l)§ | 5320000 | 5320007 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** |  | 14396441 |
|  **Commercial Mortgage-Backed Securities (5.1%)** |  |  |
|  ALA Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-OANA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.894%, 6/15/40(l)§ | 150000 | 150750 |
|  BANK, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-BN27 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.144%, 4/15/63 | 250000 | 221641 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BN34 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.438%, 6/15/63 | 660000 | 578621 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BN37 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.618%, 11/15/64(l) | 755000 | 671005 |
|  BANK5, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-5YR3 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.724%, 9/15/56(l) | 385000 | 407662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-5YR4 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/15/56 | 142826 | 150607 |
|  BANK5 Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5YR6 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.225%, 5/15/57 | 740000 | 781154 |
|  BBCMS Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-BID A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.405%, 10/15/37(l)§ | 215000 | 214950 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C12 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.689%, 11/15/54 | 755000 | 671615 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5C25 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.946%, 3/15/57 | 400000 | 418624 |
|  Benchmark Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B28 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.224%, 8/15/54 | 780000 | 687127 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-V2 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.812%, 5/15/55(l) | 470000 | 485346 |
|  BPR Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NRD A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.676%, 12/15/38(l)§ | 420000 | 416914 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  BX Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-VLT4 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.642%, 6/15/41(l)§ | $420000 | $420132 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-VLT7 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 7/15/44(l)§ | 1005000 | 1009383 |
|  CFCRE Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C4 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.018%, 5/10/58(l)§ | 1300000 | 1258817 |
|  Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CBM A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.867%, 12/10/41(l)§ | 100000 | 101080 |
|  CSMC LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-USA A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.304%, 9/15/37§ | 272399 | 251576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-USA A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.953%, 9/15/37§ | 575000 | 528346 |
|  DC Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-DC A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.314%, 9/12/40§ | 295000 | 304684 |
|  DROP Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FILE A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.414%, 10/15/43(l)§ | 420000 | 408464 |
|  Extended Stay America Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-ESH A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 10/15/42(l)§ | 110000 | 110206 |
|  FHLMC MSCR Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-MN10 M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.205%, 2/25/45(l)§ | 1960000 | 1955811 |
|  FHLMC Multifamily Structured Pass-Through Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series K-1512 X1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.046%, 4/25/34 IO(l) | 5094177 | 259344 |
|  GNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-67 EI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.659%, 10/16/65 IO(l) | 718953 | 40916 |
|  GS Mortgage Securities Corp. Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2012-BWTR A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.954%, 11/5/34§ | 290989 | 245842 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-PEMB A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.668%, 3/5/33(l)§ | 140000 | 120398 |
|  Hudsons Bay Simon JV Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-HB7 A7 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.914%, 8/5/34§ | 10805 | 10677 |
|  JP Morgan Chase Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-BMS A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 1/15/42(l)§ | 320000 | 319701 |
|  Morgan Stanley Capital I Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-HR8 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.041%, 7/15/53 | 275000 | 245931 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-L7 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.574%, 10/15/54 | 775000 | 686634 |
|  Multifamily Connecticut Avenue Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-01 M10 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.721%, 10/25/49(l)§ | 4880629 | 4954721 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-01 M10 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.856%, 11/25/53(l)§ | 6280000 | 7078116 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01 M7 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.106%, 7/25/54(l)§ | $5500486 | $5572235 |
|  SCOTT Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-SFS A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.910%, 3/10/40§ | 480000 | 492834 |
|  SPGN Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-TFLM A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 2/15/39(l)§ | 760000 | 754386 |
|  SWCH Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DATA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.593%, 2/15/42(l)§ | 1520000 | 1511927 |
|  TCO Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-DPM A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.393%, 12/15/39(l)§ | 270000 | 270337 |
|  Wells Fargo Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-C57 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.118%, 8/15/53 | 355000 | 320581 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-C58 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.092%, 7/15/53 | 100000 | 88971 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C60 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.342%, 8/15/54 | 1540000 | 1363081 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C61 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.658%, 11/15/54 | 1100000 | 981045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-C62 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/15/55(l) | 715000 | 683860 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Mortgage- Backed Securities** |  | 38206052 |
|  **Corporate Bonds (28.8%)** |  |  |
|  **Communication Services (1.2%)** |  |  |
|  ***Diversified Telecommunication Services (0.4%)*** |  |  |
|  CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 9/1/29§ | 149000 | 150882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/1/32§ | 434000 | 400495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/1/32 | 436000 | 396128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 6/1/33§ | 526000 | 466825 |
|  Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/1/30§ | 178000 | 162507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 6/30/33§ | 394000 | 401187 |
|  Windstream Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 10/1/31§ | 221000 | 228686 |
|  Zayo Group Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/9/30 PIK(x)§ | 407837 | 391518 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 9/9/30 PIK§ | 188186 | 178296 |
|  |  | 2776524 |
|  ***Entertainment (0.1%)*** |  |  |
|  Live Nation Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 5/15/27§ | 150000 | 151242 |
|  Take-Two Interactive Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 3/28/28 | 360000 | 366538 |
|  |  | 517780 |
|  ***Media (0.7%)*** |  |  |
|  Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 6/1/29 | 395000 | 414039 |
|  Cox Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 9/1/54§ | 775000 | 716661 |
|  CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.750%, 1/31/29§ | 496000 | 418500 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Gray Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 7/15/29§ | $106000 | $114429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 10/15/30(x)§ | 450000 | 345375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 7/15/32§ | 151000 | 154209 |
|  McGraw-Hill Education, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 8/1/29§ | 425000 | 432387 |
|  Neptune Bidco US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.290%, 4/15/29§ | 525000 | 514505 |
|  Nexstar Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 7/15/27§ | 212000 | 211470 |
|  Outfront Media Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/15/27§ | 327000 | 325169 |
|  Sinclair Television Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/1/30§ | 222000 | 186935 |
|  Sirius XM Radio LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 9/1/26§ | 112000 | 110589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 9/1/31§ | 474000 | 429562 |
|  Stagwell Global LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 8/15/29§ | 386000 | 374779 |
|  Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 7/31/31§ | 482000 | 497063 |
|  VZ Secured Financing BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/15/32§ | 330000 | 298237 |
|  |  | 5543909 |
|  ***Wireless Telecommunication Services (0.0%)†*** |  |  |
|  SoftBank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.699%, 7/9/30§ | 420000 | 422424 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 9260637 |
|  **Consumer Discretionary (3.2%)** |  |  |
|  ***Automobile Components (0.3%)*** |  |  |
|  Clarios Global LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 5/15/28§ | 451000 | 460557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 2/15/30§ | 140000 | 144833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 9/15/32§ | 372000 | 380210 |
|  Denso Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.239%, 9/16/26§ | 565000 | 549197 |
|  Forvia SE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 6/15/30§ | 220000 | 232197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 9/15/33§ | 200000 | 202700 |
|  ZF North America Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 3/24/31§ | 190000 | 188683 |
|  |  | 2158377 |
|  ***Automobiles (0.5%)*** |  |  |
|  General Motors Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 4/15/30 | 360000 | 372947 |
|  Honda Motor Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.688%, 7/8/30 | 545000 | 549490 |
|  Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 9/18/28§ | 185000 | 184603 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/27/30§ | 470000 | 479466 |
|  Nissan Motor Acceptance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 9/13/29§ | 365000 | 362573 |
|  Stellantis Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.450%, 3/18/35§ | 335000 | 343516 |
|  Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/22/29§ | 670000 | 684239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 9/11/30§ | 600000 | 602795 |
|  |  | 3579629 |
|  ***Broadline Retail (0.2%)*** |  |  |
|  Getty Images, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 3/1/27§ | 562000 | 534097 |
|  K2016470219 South Africa Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/31/22(h)(r)§ | 245575 |  |
|  SGUS LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 12/15/29§ | 1088800 | 1024833 |
|  |  | 1558930 |
|  ***Distributors (0.3%)*** |  |  |
|  Genuine Parts Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 8/15/29 | 435000 | 443562 |
|  LKQ Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 6/15/28 | 360000 | 371981 |
|  RB Global Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 3/15/28§ | 374000 | 381420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 3/15/31§ | 196000 | 204924 |
|  Resideo Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 7/15/32§ | 192000 | 196931 |
|  Velocity Vehicle Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 6/1/29§ | 150000 | 150547 |
|  Windsor Holdings III LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 6/15/30§ | 339000 | 358818 |
|  |  | 2108183 |
|  ***Diversified Consumer Services (0.1%)*** |  |  |
|  Matthews International Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 10/1/27§ | 273000 | 282214 |
|  Service Corp. International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/15/32 | 202000 | 204662 |
|  Wand NewCo 3, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 1/30/32§ | 262000 | 276095 |
|  |  | 762971 |
|  ***Hotels, Restaurants & Leisure (1.0%)*** |  |  |
|  1011778 BC ULC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 1/15/28§ | 294000 | 287014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 9/15/29§ | 207000 | 209329 |
|  Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 2/15/30§ | 797000 | 818918 |
|  Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 8/15/29§ | 515000 | 541394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 8/1/32§ | 329000 | 334668 |
|  Churchill Downs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 4/1/30§ | 301000 | 300624 |
|  Flutter Treasury DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 4/29/29§ | 200000 | 206020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 6/4/31§ | 202000 | 205064 |
|  Great Canadian Gaming Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 11/15/29§ | 303000 | 299203 |
|  Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 5/1/28§ | 120000 | 119966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 3/15/33§ | 185000 | 188238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 9/15/33§ | 123000 | 124637 |
|  Hyatt Hotels Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/30/29 | 355000 | 364204 |
|  Kingpin Intermediate Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 10/15/32(x)§ | 216000 | 206010 |
|  Las Vegas Sands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 6/15/28 | 525000 | 536040 |
|  Lindblad Expeditions LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 9/15/30§ | 169000 | 172120 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 3/15/35 | $374000 | $382024 |
|  NCL Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 2/1/32§ | 152000 | 156054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 9/15/33§ | 132000 | 132748 |
|  Ontario Gaming GTA LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 8/1/30§ | 324000 | 321657 |
|  Royal Caribbean Cruises Ltd. |  |  |
|  5.375%, 7/15/27§ | 261000 | 263319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/1/33§ | 296000 | 303573 |
|  Sabre GLBL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.125%, 7/15/30§ | 234000 | 226617 |
|  Scientific Games Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 3/1/30§ | 267000 | 248067 |
|  Six Flags Entertainment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 5/1/32(x)§ | 300000 | 305280 |
|  Station Casinos LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/15/28§ | 182000 | 178817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/1/31§ | 110000 | 103744 |
|  Voyager Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 7/1/32§ | 168000 | 177660 |
|  Wyndham Hotels & Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/15/28§ | 207000 | 202127 |
|  |  | 7915136 |
|  ***Household Durables (0.2%)*** |  |  |
|  Century Communities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 9/15/33§ | 152000 | 153330 |
|  Lennar Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 7/30/30 | 190000 | 195744 |
|  M.D.C. Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.966%, 8/6/61 | 360000 | 241092 |
|  Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 6/1/28§ | 180000 | 190699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 5/15/32 | 266000 | 262231 |
|  Whirlpool Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 6/15/33 | 262000 | 261261 |
|  |  | 1304357 |
|  ***Specialty Retail (0.4%)*** |  |  |
|  EG Global Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 12.000%, 11/30/28§ | 400000 | 438732 |
|  Global Auto Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 1/15/29§ | 200000 | 195730 |
|  LBM Acquisition LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 1/15/29(x)§ | 179000 | 165575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 6/15/31§ | 193000 | 202430 |
|  Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 10/15/35 | 675000 | 667607 |
|  Park River Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 3/15/31§ | 159000 | 161016 |
|  Saks Global Enterprises LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 12/15/29§ | 1527200 | 783472 |
|  White Cap Buyer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 10/15/28(x)§ | 227000 | 226648 |
|  |  | 2841210 |
|  ***Textiles, Apparel & Luxury Goods (0.2%)*** |  |  |
|  Champ Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 12/1/31§ | 180000 | 191659 |
|  Crocs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 8/15/31§ | 178000 | 163093 |
|  Hanesbrands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 2/15/31§ | 304000 | 321005 |
|  PVH Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/13/30 | 630000 | 641518 |
|  Ralph Lauren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/15/32 | 380000 | 389548 |
|  S&S Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 10/1/31§ | 346000 | 337782 |
|  |  | 2044605 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 24273398 |
|  **Consumer Staples (1.0%)** |  |  |
|  ***Beverages (0.2%)*** |  |  |
|  Bacardi-Martini BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 2/1/30§ | 565000 | 584167 |
|  PepsiCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/23/35 | 335000 | 341227 |
|  Primo Water Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 4/30/29§ | 203000 | 197399 |
|  Suntory Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.124%, 6/11/29§ | 240000 | 245977 |
|  |  | 1368770 |
|  ***Consumer Staples Distribution & Retail (0.2%)*** |  |  |
|  Alimentation Couche-Tard, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.148%, 9/29/28§ | 660000 | 660185 |
|  Performance Food Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 9/15/32§ | 159000 | 162848 |
|  Target Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/15/35 | 615000 | 623372 |
|  US Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 6/1/30§ | 166000 | 162436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 1/15/32§ | 177000 | 185246 |
|  |  | 1794087 |
|  ***Food Products (0.5%)*** |  |  |
|  Darling Ingredients, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/15/30§ | 398000 | 401482 |
|  Fiesta Purchaser, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 3/1/31§ | 123000 | 129482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 9/15/32§ | 219000 | 236246 |
|  Froneri Lux FinCo. Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/1/32§ | 622000 | 619873 |
|  JBS USA Holding Lux Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 3/1/56§ | 1015000 | 1035974 |
|  Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 2/15/32§ | 123000 | 126272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/15/34§ | 226000 | 228303 |
|  Simmons Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 3/1/29§ | 180000 | 172593 |
|  Viking Baked Goods Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 11/1/31§ | 508000 | 509219 |
|  |  | 3459444 |
|  ***Household Products (0.0%)†*** |  |  |
|  Energizer Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/15/28§ | 247000 | 241442 |
|  ***Personal Care Products (0.0%)†*** |  |  |
|  Opal Bidco SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 3/31/32§ | 200000 | 205034 |
|  Prestige Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/1/31§ | 132000 | 121605 |
|  |  | 326639 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  ***Tobacco (0.1%)*** |  |  |
|  Imperial Brands Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 6/30/28§ | $505000 | $507616 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 7697998 |
|  **Energy (2.5%)** |  |  |
|  ***Energy Equipment & Services (0.1%)*** |  |  |
|  Aris Water Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 4/1/30§ | 212000 | 223660 |
|  Helmerich & Payne, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/1/34 | 300000 | 292601 |
|  Transocean International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 2/15/30§ | 176250 | 185283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 5/15/31§ | 150000 | 147000 |
|  WBI Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/15/33§ | 253000 | 252368 |
|  |  | 1100912 |
|  ***Oil, Gas & Consumable Fuels (2.4%)*** |  |  |
|  APA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 2/15/55 | 450000 | 452121 |
|  Ascent Resources Utica Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 10/15/32§ | 148000 | 150960 |
|  Blue Racer Midstream LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 7/15/26§ | 255000 | 254942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 7/15/32§ | 182000 | 191127 |
|  Chevron USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.687%, 4/15/30 | 420000 | 429692 |
|  Crescent Energy Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 4/1/32§ | 384000 | 381769 |
|  Delek Logistics Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 3/15/29§ | 403000 | 420160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 6/30/33§ | 151000 | 153075 |
|  Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 1/15/31 | 225000 | 227343 |
|  Genesis Energy LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 2/1/28 | 277000 | 278812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 5/15/32 | 477000 | 497320 |
|  Kinder Morgan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 2/1/33 | 244000 | 243448 |
|  Kinetik Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 6/15/30§ | 394000 | 396336 |
|  Marathon Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/1/30 | 220000 | 226214 |
|  MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 9/15/35 | 290000 | 289792 |
|  NFE Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 12.000%, 11/15/29§ | 2876400 | 830934 |
|  NGL Energy Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 2/15/32(x)§ | 509000 | 521089 |
|  Northern Oil & Gas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 10/15/33§ | 221000 | 220105 |
|  NuStar Logistics LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/1/26 | 165000 | 165307 |
|  ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/15/55 | 725000 | 732424 |
|  Permian Resources Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 7/1/29§ | 144000 | 143651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 2/1/33§ | 204000 | 207805 |
|  Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 2/12/28 | 8310000 | 8280915 |
|  Plains All American Pipeline LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 1/15/36 | 250000 | 252422 |
|  Summit Midstream Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 10/31/29§ | 610000 | 612660 |
|  Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 5/1/32§ | 228000 | 239129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7/1/33§ | 212000 | 215610 |
|  Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 5/15/55 | 595000 | 594325 |
|  |  | 17609487 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 18710399 |
|  **Financials (11.2%)** |  |  |
|  ***Banks (3.7%)*** |  |  |
|  ABN AMRO Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.65%), 6.339%, 9/18/27(k)§ | 400000 | 407792 |
|  ANZ New Zealand Int'l Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.355%, 8/14/28§ | 285000 | 294579 |
|  Armor Holdco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 11/15/29§ | 410000 | 406921 |
|  Bank of America NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.526%, 8/18/26 | 510000 | 516192 |
|  Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.67%), 5.004%, 1/27/29(k)(x) | 295000 | 300521 |
|  Bank of New Zealand |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.285%, 1/27/27§ | 605000 | 591274 |
|  Bank of Nova Scotia (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.09%), 4.338%, 9/15/31(k) | 1040000 | 1032533 |
|  Banque Federative du |  |  |
|  Credit Mutuel SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.194%, 2/16/28§ | 275000 | 281016 |
|  BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.28%), 5.283%, 11/19/30(k)§ | 230000 | 236187 |
|  Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.03%), 4.857%, 3/30/29(k) | 745000 | 757151 |
|  Citibank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.71%), 4.876%, 11/19/27(k) | 345000 | 347600 |
|  Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.14%), 4.643%, 5/7/28(k) | 1010000 | 1015880 |
|  Citizens Financial Group, Inc. |  |  |
|  (SOFR + 1.26%), 5.253%, 3/5/31(k) | 305000 | 312528 |
|  Comerica, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.16%), 5.982%, 1/30/30(k) | 185000 | 192588 |
|  Commonwealth Bank of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.423%, 3/14/28 | 295000 | 298536 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 10/1/30 | $250000 | $249799 |
|  Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.92%), 4.990%, 5/27/31(k)§ | 355000 | 362212 |
|  Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.13%), 5.230%, 1/9/29(k)§ | 440000 | 448292 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.36%), 4.818%, 9/25/33(k)§ | 1025000 | 1019448 |
|  Danske Bank A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.93%), 5.019%, 3/4/31(k)§ | 510000 | 519471 |
|  DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.05%), 4.853%, 11/5/30(k)§ | 230000 | 234460 |
|  Federation des Caisses Desjardins du Quebec |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 3/14/28§ | 295000 | 305824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.565%, 8/26/30§ | 370000 | 371842 |
|  Fifth Third Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.81%), 4.967%, 1/28/28(k) | 250000 | 252451 |
|  HSBC Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.04%), 5.130%, 11/19/28(k) | 200000 | 203634 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.57%), 5.240%, 5/13/31(k) | 505000 | 519710 |
|  HSBC USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 6/3/28 | 260000 | 263588 |
|  Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.02%), 6.208%, 8/21/29(k) | 295000 | 310033 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.28%), 5.272%, 1/15/31(k) | 155000 | 159502 |
|  ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.01%), 4.858%, 3/25/29(k) | 380000 | 384900 |
|  JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.64%), 5.576%, 7/23/36(k) | 510000 | 529017 |
|  KBC Group NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 4.454%, 9/23/31(k)§ | 810000 | 805300 |
|  Lloyds Banking Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.83%), 4.818%, 6/13/29(k) | 470000 | 476391 |
|  M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.40%), 5.179%, 7/8/31(k) | 295000 | 300827 |
|  Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 0.93%), 5.188%, 9/12/36(k) | 225000 | 228480 |
|  Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.92%), 4.711%, 7/8/31(k) | 720000 | 728843 |
|  Morgan Stanley Private Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.08%), 4.734%, 7/18/31(k) | 575000 | 583733 |
|  National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/10/29 | 510000 | 514760 |
|  NatWest Markets plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.789%, 3/21/28§ | 530000 | 538982 |
|  Norinchukin Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.674%, 9/9/30§ | 285000 | 285855 |
|  Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.89%), 4.498%, 8/6/29(k) | 1045000 | 1052607 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.03%), 5.153%, 2/4/31(k) | 255000 | 262649 |
|  Santander UK Group Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.58%), 5.136%, 9/22/36(k) | 275000 | 271977 |
|  Skandinaviska Enskilda Banken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/3/30§ | 660000 | 660308 |
|  Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.65%), 5.512%, 5/22/31(k)§ | 600000 | 616293 |
|  Standard Chartered plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 5.400%, 8/12/36(k)§ | 355000 | 360815 |
|  Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.19%), 4.660%, 7/8/31(k) | 345000 | 349116 |
|  Sumitomo Mitsui Trust Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/7/27§ | 415000 | 420516 |
|  Svenska Handelsbanken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/23/28§ | 520000 | 525203 |
|  Swedbank AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.136%, 9/12/26§ | 380000 | 386973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.407%, 3/14/29§ | 360000 | 373022 |
|  Toronto-Dominion Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.574%, 6/2/28 | 1155000 | 1167853 |
|  Truist Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.77%), 4.420%, 7/24/28(k) | 600000 | 602560 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  US Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.69%), 4.507%, 10/22/27(k) | $760000 | $762306 |
|  Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.74%), 5.605%, 4/23/36(k) | 325000 | 340726 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series BB (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.45%), 3.900%, 3/15/26(k)(y) | 1700000 | 1675975 |
|  |  | 27417551 |
|  ***Capital Markets (3.2%)*** |  |  |
|  Antares Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 7/15/27§ | 375000 | 364808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 10/23/29§ | 260000 | 265973 |
|  Apollo Debt Solutions BDC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 8/30/30§ | 175000 | 178120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.550%, 3/15/32§ | 110000 | 115532 |
|  Ares Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 3/8/32 | 295000 | 300521 |
|  Ares Strategic Income Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 3/15/28 | 300000 | 304240 |
|  Aretec Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 8/15/30§ | 161000 | 175390 |
|  Bain Capital Specialty Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 10/13/26 | 325000 | 317997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 3/15/30 | 105000 | 105521 |
|  Bank of New York Mellon Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.03%), 4.947%, 4/26/27(k) | 315000 | 316556 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.89%), 4.942%, 2/11/31(k) | 495000 | 508349 |
|  Barings BDC, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 9/15/28 | 395000 | 392166 |
|  BGC Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 4/2/30§ | 155000 | 158608 |
|  Blue Owl Capital Corp. II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.450%, 11/15/26 | 230000 | 238356 |
|  Blue Owl Credit Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.950%, 6/13/28 | 270000 | 288924 |
|  Cantor Fitzgerald LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 12/12/28§ | 275000 | 293858 |
|  Carlyle Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 9/19/35 | 235000 | 233320 |
|  Carlyle Secured Lending, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 2/15/31 | 245000 | 243551 |
|  Charles Schwab Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series I (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.17%), 4.000%,<br>6/1/26(k)(y) | 3150000 | 3112733 |
|  Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.72%), 5.297%, 5/9/31(k) | 615000 | 630005 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.30%), 4.950%, 8/4/31(k) | 320000 | 322563 |
|  FS KKR Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 1/15/29 | 275000 | 288956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 1/15/30 | 145000 | 144399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 1/15/31 | 5000 | 4947 |
|  Goldman Sachs Bank USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.75%), 5.414%, 5/21/27(k) | 420000 | 423105 |
|  Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.21%), 5.049%, 7/23/30(k) | 465000 | 476273 |
|  Golub Capital BDC, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 8/24/26 | 3500000 | 3433933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.050%, 12/5/28 | 200000 | 211312 |
|  Golub Capital Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 8/15/28§ | 95000 | 95476 |
|  Hercules Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 1/20/27 | 310000 | 304126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/16/30 | 110000 | 112296 |
|  HPS Corporate Lending Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 1/14/28 | 435000 | 439009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 9/30/29 | 10000 | 10323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 11/15/30§ | 215000 | 215026 |
|  Jefferies Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 7/21/28 | 295000 | 307286 |
|  KKR & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 8/7/35 | 735000 | 735635 |
|  LPL Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 6/15/30 | 285000 | 290143 |
|  Main Street Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/14/26 | 215000 | 212267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 6/4/27 | 245000 | 250358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 8/15/28 | 155000 | 155609 |
|  Marex Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.829%, 5/8/28 | 325000 | 329375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.404%, 11/4/29 | 335000 | 345635 |
|  Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.10%), 4.654%, 10/18/30(k) | 750000 | 757533 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.11%), 5.230%, 1/15/31(k) | 295000 | 304484 |
|  Morgan Stanley Direct Lending Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5/19/30 | 200000 | 205039 |
|  MSCI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 8/15/33§ | 522000 | 466407 |
|  MSD Investment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 5/31/30§ | 135000 | 136637 |
|  New Mountain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 10/15/27 | 155000 | 158168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 2/1/29 | 150000 | 154120 |
|  North Haven Private Income Fund LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 9/25/28§ | 160000 | 159144 |
|  Oaktree Strategic Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.190%, 7/15/30§ | 95000 | 97114 |
|  Osaic Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 8/1/32§ | 102000 | 105126 |
|  Raymond James Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 9/11/55 | 204000 | 202593 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  Sixth Street Lending Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 3/11/29 | $350000 | $364017 |
|  TPG Operating Group II LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 1/15/36 | 520000 | 519800 |
|  UBS AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/9/27 | 425000 | 432156 |
|  UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.10%), 3.875%, 6/2/26(k)(y)§ | 2350000 | 2320625 |
|  |  | 24035543 |
|  ***Consumer Finance (1.1%)*** |  |  |
|  Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.96%), 5.737%, 5/15/29(k) | 240000 | 245728 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.78%), 5.548%, 7/31/33(k) | 900000 | 907248 |
|  American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.85%), 3.550%, 9/15/26(k)(y) | 530000 | 517067 |
|  Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1/15/26§ | 390000 | 390503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 1/15/28§ | 530000 | 535088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 10/15/32§ | 650000 | 641670 |
|  Bread Financial Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 3/15/29§ | 51000 | 54443 |
|  Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.44%), 7.149%, 10/29/27(k) | 335000 | 345061 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.64%), 6.312%, 6/8/29(k) | 35000 | 36714 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.25%), 4.493%, 9/11/31(k) | 290000 | 287533 |
|  Enova International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 8/1/29§ | 325000 | 342063 |
|  General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 10/10/25 | 435000 | 435167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 4/4/28 | 280000 | 284481 |
|  GGAM Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 2/15/27§ | 172000 | 176085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 6/15/28§ | 240000 | 254292 |
|  Macquarie Airfinance Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/27/28§ | 300000 | 304808 |
|  Mitsubishi HC Finance America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 10/24/29§ | 555000 | 567609 |
|  Stellantis Financial Services US Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 9/15/28§ | 610000 | 609734 |
|  Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 2.13%), 5.935%, 8/2/30(k) | 285000 | 294913 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.68%), 5.450%, 3/6/31(k) | 185000 | 188265 |
|  Toyota Motor Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 9/3/32 | 655000 | 658601 |
|  |  | 8077073 |
|  ***Financial Services (0.9%)*** |  |  |
|  Apollo Global Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 8/12/35 | 210000 | 210692 |
|  Atlas Warehouse Lending Co. LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 1/15/30§ | 250000 | 257027 |
|  Block Financial LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 9/15/32 | 395000 | 397286 |
|  Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/15/33§ | 126000 | 128907 |
|  Blue Owl Technology Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 12/15/25§ | 125000 | 124732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 4/4/29 | 335000 | 345664 |
|  Enact Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 5/28/29 | 625000 | 653590 |
|  Freedom Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 1/15/27§ | 1850000 | 1851128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12.000%, 10/1/28§ | 228000 | 241538 |
|  Freedom Mortgage Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 2/1/29§ | 237000 | 249886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 4/1/32§ | 159000 | 166522 |
|  Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.06%), 4.649%, 7/14/29(k)§ | 395000 | 398239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.127%, 7/29/29(x)§ | 620000 | 637882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.351%, 9/30/30§ | 585000 | 582885 |
|  Rocket Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 8/1/33§ | 197000 | 203649 |
|  Shift4 Payments LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 8/15/32§ | 481000 | 497234 |
|  Western Union Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.350%, 3/15/26 | 175000 | 172610 |
|  |  | 7119471 |
|  ***Insurance (2.3%)*** |  |  |
|  Acrisure LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 2/1/29§ | 330000 | 344144 |
|  Alliant Holdings Intermediate LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/15/27§ | 152000 | 152190 |
|  American Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/23/35 | 160000 | 156379 |
|  American National Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 1/28/30§ | 320000 | 329643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/3/30§ | 240000 | 244782 |
|  American National Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 7/15/35 | 295000 | 301068 |
|  Ardonagh Group Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 2/15/32(x)§ | 200000 | 210250 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Arthur J Gallagher & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 3/9/52 | $190000 | $122374 |
|  Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.830%, 5/9/28§ | 190000 | 192351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.380%, 1/7/30§ | 470000 | 483838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.543%, 8/22/35§ | 350000 | 354908 |
|  Belrose Funding Trust II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.792%, 5/15/55§ | 265000 | 287064 |
|  Brighthouse Financial Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 4/9/27§ | 610000 | 619943 |
|  Broadstreet Partners Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 4/15/29§ | 250000 | 248900 |
|  Chubb INA Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 8/15/35 | 260000 | 261658 |
|  CNO Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 9/8/28§ | 460000 | 460666 |
|  Corebridge Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 6/24/29§ | 425000 | 436845 |
|  F&G Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 6/10/27§ | 260000 | 266680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 9/8/28§ | 205000 | 205754 |
|  Fortitude Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/6/28§ | 305000 | 305250 |
|  Fortitude Group Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 4/1/30§ | 170000 | 176316 |
|  GA Global Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 1/6/27§ | 265000 | 258378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/1/32§ | 460000 | 471759 |
|  HUB International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 6/15/30§ | 308000 | 321102 |
|  Jackson National Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 6/5/28§ | 570000 | 576237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 9/9/30§ | 450000 | 449791 |
|  Lincoln Financial Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 5/28/28§ | 400000 | 403853 |
|  MassMutual Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 1/10/30§ | 750000 | 768216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 5/7/30§ | 230000 | 231890 |
|  Mutual of Omaha Cos. Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/1/30§ | 130000 | 132834 |
|  New York Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 7/25/28§ | 145000 | 145428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/6/29§ | 570000 | 587484 |
|  NLG Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 1/23/30§ | 295000 | 305747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 9/15/30§ | 595000 | 589242 |
|  Northwestern Mutual Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 6/12/28§ | 580000 | 593322 |
|  Pacific Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 2/10/30§ | 580000 | 590678 |
|  Panther Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 6/1/31§ | 165000 | 171600 |
|  Pricoa Global Funding I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 8/26/32§ | 480000 | 483185 |
|  Principal Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 8/19/27§ | 270000 | 272656 |
|  RGA Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/25/32§ | 750000 | 754514 |
|  Sammons Financial Group Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 6/12/30§ | 675000 | 684264 |
|  SBL Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 9/26/28§ | 380000 | 380806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 10/30/34§ | 455000 | 454206 |
|  SiriusPoint Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 4/5/29 | 415000 | 439004 |
|  Trustage Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/15/32§ | 290000 | 277041 |
|  Western-Southern Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/16/28§ | 600000 | 603703 |
|  |  | 17107943 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.0%)†*** |  |  |
|  Starwood Property Trust, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 7/1/30§ | 138000 | 142812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 1/15/31§ | 118000 | 118000 |
|  |  | 260812 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 84018393 |
|  **Health Care (1.3%)** |  |  |
|  ***Biotechnology (0.1%)*** |  |  |
|  Biogen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.450%, 5/15/55 | 415000 | 442392 |
|  ***Health Care Equipment & Supplies (0.1%)*** |  |  |
|  Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/1/29§ | 206000 | 204197 |
|  Neogen Food Safety Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 7/20/30§ | 381000 | 398568 |
|  Varex Imaging Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 10/15/27§ | 208000 | 211711 |
|  |  | 814476 |
|  ***Health Care Providers & Services (0.6%)*** |  |  |
|  AdaptHealth LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 3/1/30§ | 198000 | 188730 |
|  Cardinal Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/15/29 | 825000 | 845266 |
|  CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 9/15/55 | 785000 | 800182 |
|  Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/15/28 | 660000 | 657191 |
|  HealthEquity, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/1/29§ | 370000 | 358567 |
|  Heartland Dental LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 4/30/28§ | 92000 | 96945 |
|  Star Parent, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 10/1/30§ | 258000 | 272621 |
|  Surgery Center Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 4/15/32§ | 365000 | 374891 |
|  Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 2/1/27 | 318000 | 317676 |
|  UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 6/15/55 | 185000 | 192280 |
|  Universal Health Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/29 | 230000 | 229619 |
|  US Acute Care Solutions LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 5/15/29§ | 466000 | 476485 |
|  |  | 4810453 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  ***Health Care Technology (0.2%)*** |  |  |
|  IQVIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 5/15/28 | $550000 | $566976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 2/1/29 | 293000 | 308152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 6/1/32§ | 384000 | 394560 |
|  |  | 1269688 |
|  ***Life Sciences Tools & Services (0.1%)*** |  |  |
|  Illumina, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 9/9/26 | 320000 | 321449 |
|  Thermo Fisher Scientific, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.794%, 10/7/35 | 495000 | 495236 |
|  |  | 816685 |
|  ***Pharmaceuticals (0.2%)*** |  |  |
|  1261229 BC Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 4/15/32§ | 200000 | 205500 |
|  Merck & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 9/15/35 | 1030000 | 1036923 |
|  Royalty Pharma plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 9/25/35 | 210000 | 210148 |
|  Zoetis, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/17/35 | 320000 | 323263 |
|  |  | 1775834 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 9929528 |
|  **Industrials (2.4%)** |  |  |
|  ***Aerospace & Defense (0.1%)*** |  |  |
|  Goat Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 2/1/32§ | 287000 | 294542 |
|  Rolls-Royce plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/15/27§ | 200000 | 205195 |
|  |  | 499737 |
|  ***Building Products (0.2%)*** |  |  |
|  Advanced Drainage Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 6/15/30§ | 158000 | 160744 |
|  AmeriTex HoldCo Intermediate LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 8/15/33§ | 211000 | 219170 |
|  Camelot Return Merger Sub, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 8/1/28§ | 258000 | 249370 |
|  EMRLD Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 12/15/30§ | 364000 | 374010 |
|  New Enterprise Stone & Lime Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 7/15/28§ | 152000 | 150582 |
|  Standard Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 7/15/30§ | 278000 | 266185 |
|  |  | 1420061 |
|  ***Commercial Services & Supplies (0.6%)*** |  |  |
|  ACCO Brands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 3/15/29§ | 180000 | 162702 |
|  ADT Security Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 7/15/32§ | 214000 | 207045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/15/33§ | 206000 | 206000 |
|  Allied Universal Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/1/29§ | 48000 | 47160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 6/15/30§ | 384000 | 394683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 2/15/31§ | 246000 | 257685 |
|  Aramark Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/1/28§ | 362000 | 360226 |
|  Clarivate Science Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 7/1/29§ | 328000 | 309857 |
|  Element Fleet Management Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.037%, 3/25/30§ | 180000 | 183321 |
|  Garda World Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/1/29§ | 305000 | 302185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 8/1/32§ | 118000 | 122278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 11/15/32§ | 484000 | 501932 |
|  Madison IAQ LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 6/30/29§ | 244000 | 240950 |
|  Raven Acquisition Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/15/31§ | 370000 | 380312 |
|  Veritiv Operating Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 11/30/30§ | 434000 | 467092 |
|  Waste Pro USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 2/1/33§ | 86000 | 89268 |
|  Williams Scotsman, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 10/1/31§ | 362000 | 376762 |
|  |  | 4609458 |
|  ***Construction & Engineering (0.2%)*** |  |  |
|  AECOM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/1/33§ | 264000 | 269734 |
|  Arcosa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 8/15/32§ | 200000 | 208460 |
|  Brand Industrial Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.375%, 8/1/30§ | 279000 | 277437 |
|  Dycom Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/15/29§ | 242000 | 236185 |
|  Pike Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 1/31/31§ | 196000 | 210257 |
|  Weekley Homes LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 9/15/28§ | 196000 | 192570 |
|  |  | 1394643 |
|  ***Electrical Equipment (0.0%)†*** |  |  |
|  EnerSys |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 1/15/32§ | 198000 | 203722 |
|  ***Ground Transportation (0.3%)*** |  |  |
|  Beacon Mobility Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 8/1/30§ | 91000 | 94508 |
|  EquipmentShare.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 5/15/28§ | 196000 | 207503 |
|  Genesee & Wyoming, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 4/15/32§ | 150000 | 152427 |
|  JB Hunt Transport Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 3/15/30 | 205000 | 208986 |
|  NESCO Holdings II, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/15/29§ | 383000 | 374490 |
|  RXO, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 11/15/27§ | 134000 | 136885 |
|  Watco Cos. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 8/1/32§ | 443000 | 457858 |
|  XPO, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 6/1/31§ | 222000 | 231568 |
|  |  | 1864225 |
|  ***Machinery (0.6%)*** |  |  |
|  ATS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/15/28§ | 316000 | 302368 |
|  Chart Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 1/1/30§ | 542000 | 564244 |
|  CNH Industrial Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 3/21/28 | 255000 | 257866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/16/30 | 680000 | 678579 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Cummins, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 5/9/35 | $360000 | $371856 |
|  Daimler Truck Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 10/12/30§ | 445000 | 445018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1/13/35§ | 405000 | 417926 |
|  Enpro, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 6/1/33§ | 146000 | 149535 |
|  Hillenbrand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 2/15/29 | 290000 | 297235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 3/1/31 | 90000 | 84727 |
|  Husky Injection Molding Systems Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 2/15/29§ | 256000 | 267520 |
|  Terex Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/15/32§ | 230000 | 234347 |
|  Weir Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 5/6/30§ | 325000 | 333764 |
|  |  | 4404985 |
|  ***Professional Services (0.1%)*** |  |  |
|  CACI International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 6/15/33§ | 195000 | 201026 |
|  Equifax, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 6/1/28 | 295000 | 301349 |
|  VT Topco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 8/15/30§ | 259000 | 263532 |
|  |  | 765907 |
|  ***Trading Companies & Distributors (0.3%)*** |  |  |
|  Aircastle Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 1/26/28§ | 430000 | 414755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 7/18/28§ | 190000 | 199643 |
|  Aviation Capital Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 4/10/30§ | 315000 | 319560 |
|  GATX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 3/15/27 | 200000 | 202931 |
|  Mitsubishi Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/2/29§ | 310000 | 318555 |
|  United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/15/29§ | 230000 | 236037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 3/15/34§ | 140000 | 145558 |
|  WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 6/15/28§ | 314000 | 318082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 3/15/32§ | 216000 | 224471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 3/15/33§ | 189000 | 195689 |
|  |  | 2575281 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 17738019 |
|  **Information Technology (2.2%)** |  |  |
|  ***Communications Equipment (0.1%)*** |  |  |
|  CommScope LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 3/1/27§ | 212000 | 214302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 9/1/29§ | 222000 | 220575 |
|  |  | 434877 |
|  ***Electronic Equipment, Instruments & Components (0.3%)*** |  |  |
|  Arrow Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 8/21/29 | 440000 | 450357 |
|  CDW LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.276%, 12/1/28 | 490000 | 473008 |
|  Flex Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1/15/28 | 290000 | 299515 |
|  Tyco Electronics Group SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/1/30 | 540000 | 547575 |
|  Zebra Technologies Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 6/1/32§ | 184000 | 189027 |
|  |  | 1959482 |
|  ***IT Services (0.4%)*** |  |  |
|  Ahead DB Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 5/1/28(x)§ | 327000 | 327386 |
|  CGI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 3/14/30§ | 645000 | 656000 |
|  DXC Technology Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 9/15/28(x) | 790000 | 743994 |
|  Fortress Intermediate 3, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 6/1/31§ | 185000 | 193566 |
|  ION Trading Technologies Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 5/15/28§ | 400000 | 391504 |
|  Unisys Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.625%, 1/15/31§ | 360000 | 382460 |
|  |  | 2694910 |
|  ***Semiconductors & Semiconductor Equipment (0.4%)*** |  |  |
|  Amkor Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/1/33§ | 263000 | 265691 |
|  Analog Devices, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 6/15/28 | 575000 | 578517 |
|  Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 10/15/30 | 330000 | 329211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 7/15/32 | 360000 | 367692 |
|  Microchip Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 2/15/30 | 325000 | 332060 |
|  Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 11/1/29 | 415000 | 450395 |
|  NXP BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 8/19/28 | 305000 | 305307 |
|  QUALCOMM, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/20/35 | 288000 | 293914 |
|  |  | 2922787 |
|  ***Software (0.9%)*** |  |  |
|  AthenaHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 2/15/30§ | 470000 | 465465 |
|  Camelot Finance SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/1/26§ | 34000 | 33816 |
|  Capstone Borrower, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 6/15/30§ | 335000 | 350239 |
|  Central Parent, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 6/15/29§ | 168000 | 145332 |
|  Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 3/31/29§ | 194000 | 195692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 9/30/29§ | 617000 | 637404 |
|  Ellucian Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/1/29§ | 117000 | 118870 |
|  Gen Digital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 9/30/30§ | 267000 | 274791 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 4/1/33§ | 268000 | 274140 |
|  Helios Software Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 5/1/28§ | 334000 | 322798 |
|  McAfee Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 2/15/30§ | 480000 | 445118 |
|  NCR Voyix Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/1/28§ | 242000 | 238917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 4/15/29§ | 114000 | 112062 |
|  Open Text Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.900%, 12/1/27§ | 250000 | 260372 |
|  Open Text Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/1/31§ | 324000 | 299473 |
|  Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 9/26/55 | 1040000 | 1034024 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Rocket Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 11/28/28§ | $254000 | $261440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 2/15/29§ | 166000 | 161634 |
|  Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 9/15/28 | 160000 | 160602 |
|  SS&C Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/30/27§ | 275000 | 274513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 6/1/32§ | 210000 | 217296 |
|  UKG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 2/1/31§ | 220000 | 226875 |
|  ZoomInfo Technologies LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 2/1/29§ | 605000 | 572989 |
|  |  | 7083862 |
|  ***Technology Hardware, Storage & Peripherals (0.1%)*** |  |  |
|  Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 10/6/32 | 515000 | 512046 |
|  Hewlett Packard Enterprise Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 10/15/30 | 565000 | 561846 |
|  |  | 1073892 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 16169810 |
|  **Materials (1.7%)** |  |  |
|  ***Chemicals (0.9%)*** |  |  |
|  Avient Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 8/1/30§ | 208000 | 213337 |
|  Axalta Coating Systems LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/15/27§ | 300000 | 298500 |
|  Celanese US Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 4/15/33(x) | 418000 | 415910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 11/15/33(e) | 144000 | 149612 |
|  Dow Chemical Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 1/15/31 | 635000 | 632774 |
|  Eastman Chemical Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/1/29 | 245000 | 249575 |
|  HB Fuller Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/15/28 | 255000 | 247987 |
|  Illuminate Buyer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 7/1/28§ | 670000 | 671675 |
|  INEOS Quattro Finance 2plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 3/15/29(x)§ | 400000 | 397268 |
|  LYB International Finance III LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/1/34(x) | 445000 | 446945 |
|  Maxam Prill Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 7/15/30§ | 200000 | 201250 |
|  Minerals Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/1/28§ | 458000 | 450461 |
|  NOVA Chemicals Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 11/15/28§ | 355000 | 371454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 2/15/30§ | 96000 | 102926 |
|  Nufarm Australia Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/27/30§ | 368000 | 335664 |
|  Olympus Water US Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/1/29§ | 200000 | 193914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 6/15/31§ | 398000 | 403238 |
|  Qnity Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 8/15/33§ | 215000 | 219528 |
|  Solstice Advanced Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 9/30/33§ | 148000 | 148548 |
|  WR Grace Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 8/15/29(x)§ | 641000 | 595061 |
|  |  | 6745627 |
|  ***Containers & Packaging (0.7%)*** |  |  |
|  Amcor Flexibles North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/17/28 | 350000 | 353950 |
|  Amcor Group Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 5/23/29 | 520000 | 536938 |
|  Ardagh Metal Packaging Finance USA LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/1/29§ | 410000 | 379250 |
|  Clydesdale Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 4/15/30(x)§ | 559000 | 573674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 4/15/32§ | 154000 | 157859 |
|  Graphic Packaging International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 7/15/32§ | 151000 | 153454 |
|  LABL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/1/28§ | 441000 | 341789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 10/1/31§ | 258000 | 189442 |
|  Mauser Packaging Solutions Holding Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 4/15/27§ | 302000 | 305249 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 4/15/27§ | 622000 | 621117 |
|  Owens-Brockway Glass Container, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 5/13/27§ | 288000 | 287280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 5/15/31§ | 211000 | 214689 |
|  Sealed Air Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 2/1/28§ | 150000 | 151954 |
|  Toucan FinCo Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 5/15/30§ | 292000 | 285950 |
|  Trivium Packaging Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 7/15/30§ | 292000 | 311322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12.250%, 1/15/31§ | 200000 | 216500 |
|  |  | 5080417 |
|  ***Metals & Mining (0.1%)*** |  |  |
|  Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.186%, 4/1/30§ | 255000 | 262459 |
|  Kaiser Aluminum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 6/1/31§ | 233000 | 219311 |
|  Novelis Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 1/30/30(x)§ | 97000 | 100319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 8/15/33§ | 297000 | 299940 |
|  |  | 882029 |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Magnera Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 11/15/31(x)§ | 373000 | 350620 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 13058693 |
|  **Real Estate (0.7%)** |  |  |
|  ***Diversified REITs (0.3%)*** |  |  |
|  Trust Fibra Uno (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.700%, 1/23/32§ | 1050000 | 1138200 |
|  VICI Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/1/26§ | 190000 | 189285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 4/1/28 | 225000 | 227251 |
|  WP Carey, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 7/15/30 | 230000 | 231342 |
|  |  | 1786078 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  ***Health Care REITs (0.1%)*** |  |  |
|  Omega Healthcare Investors, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 7/1/30 | $430000 | $436550 |
|  ***Hotel & Resort REITs (0.1%)*** |  |  |
|  Host Hotels & Resorts LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 6/15/32 | 570000 | 586269 |
|  Park Intermediate Holdings LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/1/28§ | 183000 | 182543 |
|  Pebblebrook Hotel LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 10/15/29§ | 162000 | 164326 |
|  |  | 933138 |
|  ***Office REITs (0.0%)†*** |  |  |
|  COPT Defense Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/15/30 | 170000 | 168952 |
|  ***Real Estate Management & Development (0.1%)*** |  |  |
|  Cushman & Wakefield US Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 5/15/28(x)§ | 244000 | 246116 |
|  Greystar Real Estate Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 9/1/30§ | 180000 | 189900 |
|  |  | 436016 |
|  ***Residential REITs (0.0%)†*** |  |  |
|  Essential Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 12/1/35 | 245000 | 245840 |
|  ***Specialized REITs (0.1%)*** |  |  |
|  American Tower Corp. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 3/15/35 | 420000 | 431021 |
|  Extra Space Storage LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 4/1/28 | 135000 | 139453 |
|  Iron Mountain, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/15/28§ | 266000 | 263899 |
|  |  | 834373 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 4840947 |
|  **Utilities (1.4%)** |  |  |
|  ***Electric Utilities (0.9%)*** |  |  |
|  Alliant Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.08%), 5.750%, 4/1/56(k) | 330000 | 330370 |
|  Alliant Energy Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 6/6/27§ | 310000 | 313625 |
|  American Electric Power Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.68%), 3.875%, 2/15/62(k) | 395000 | 381008 |
|  Arizona Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 8/15/34 | 275000 | 287364 |
|  Capital Power US Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.257%, 6/1/28§ | 190000 | 193646 |
|  Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 9/30/30§ | 875000 | 869779 |
|  Kentucky Utilities Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 8/15/55 | 190000 | 193765 |
|  Louisville Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 8/15/55 | 285000 | 290847 |
|  New England Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.848%, 9/8/55§ | 195000 | 199030 |
|  NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.685%, 9/1/27 | 345000 | 348798 |
|  NSTAR Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 3/1/30 | 190000 | 194882 |
|  Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/4/28 | 150000 | 152059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 3/1/55 | 450000 | 452278 |
|  Public Service Co. of Colorado |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 5/15/55 | 350000 | 359194 |
|  Public Service Co. of New Hampshire |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 7/1/28 | 290000 | 292837 |
|  RWE Finance US LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 9/18/55§ | 750000 | 739551 |
|  Southwestern Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 8 3.150%, 5/1/50 | 75000 | 50007 |
|  Virginia Electric and Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series D 5.600%, 9/15/55 | 525000 | 524389 |
|  Wisconsin Electric Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 10/15/30 | 170000 | 169410 |
|  Wisconsin Public Service Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 12/1/29 | 175000 | 177403 |
|  Xcel Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 3/21/28 | 125000 | 126462 |
|  |  | 6646704 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 1/31/41§ | 881552 | 936384 |
|  Southern Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A 4.250%, 10/1/30 | 155000 | 153962 |
|  |  | 1090346 |
|  ***Multi-Utilities (0.3%)*** |  |  |
|  Ameren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/15/29 | 190000 | 194217 |
|  Ameren Illinois Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 3/1/55 | 340000 | 345505 |
|  CenterPoint Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.59%), 6.700%, 5/15/55(k) | 440000 | 453200 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.22%), 5.950%, 4/1/56(k) | $190000 | $189905 |
|  Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 5/15/28 | 420000 | 423935 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.26%), 6.000%, 2/15/56(k) | 428000 | 430928 |
|  DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 7/1/27 | 310000 | 313995 |
|  |  | 2351685 |
|  ***Water Utilities (0.1%)*** |  |  |
|  Essential Utilities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 8/15/27 | 300000 | 303439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 8/15/35 | 265000 | 266072 |
|  |  | 569511 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 10658246 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  | 216356068 |
|  **Foreign Government Securities (9.0%)** |  |  |
|  Argentine Republic |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 7/9/30(e) | $2800000 | 1899800 |
|  Japan Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 3/20/55 | 4330000000 | 25475324 |
|  Mex Bonos Desarr Fix Rt |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series M |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 7/31/53 | 525700000 | 24954432 |
|  Notas do Tesouro Nacional |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 1/1/35 | 98050000 | 15071637 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Foreign Government Securities** |  | 67401193 |
|  **Mortgage-Backed Securities (16.6%)** |  |  |
|  FHLMC UMBS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/1/38 | $5843 | 5758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/1/48 | 4831 | 4628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/1/49 | 39488 | 37823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/1/49 | 183467 | 175387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/1/49 | 4958 | 4733 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/1/50 | 304862 | 259681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 6/1/50 | 316741 | 269800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/1/50 | 231271 | 188229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/1/52 | 3217755 | 2723788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 4/1/52 | 12765612 | 10803529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/1/52 | 1190235 | 1047898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/1/52 | 2851872 | 2697768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/1/53 | 2986052 | 2974534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/1/54 | 2884522 | 2949481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/1/54 | 2740077 | 2659719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 7/1/55 | 1448825 | 1480773 |
|  FNMA UMBS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 8/1/49 | 1706004 | 1578933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/1/50 | 668519 | 594213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 9/1/50 | 169688 | 144381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/1/51 | 2191943 | 2027307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/1/52 | 17901179 | 14518027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/1/52 | 1011356 | 819970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/52 | 2339729 | 2068154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/1/52 | 2522053 | 2131732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/1/52 | 2965137 | 2627456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 1/1/54 | 1165453 | 1206941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 2/1/54 | 1328324 | 1373846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/1/54 | 997099 | 991384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/1/55 | 4274697 | 4311433 |
|  GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/20/49 | 431147 | 398946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/20/52 | 2744867 | 2453770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/20/52 | 2642325 | 2362722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/20/53 | 1673566 | 1695594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/20/53 | 3536723 | 3616955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/20/54 | 2406817 | 2459160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/20/54 | 2950005 | 3011165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/20/54 | 3949384 | 4026326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/20/54 | 10514505 | 10704564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/20/54 | 7571683 | 7704999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/20/54 | 5051324 | 5139079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1/20/55 | 8970088 | 9121018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/20/55 | 9045258 | 9204520 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Mortgage-Backed Securities** |  | 124576124 |
|  **U.S. Treasury Obligations (23.5%)** |  |  |
|  U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 8/15/41 | 15095000 | 10229442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/15/41 | 5505000 | 3860418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 5/15/42 | 1800000 | 1510839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 8/15/42 | 3370000 | 2869314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 2/15/43 | 270000 | 244870 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 5/15/43 | 1575000 | 1425875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/15/43 | 1095000 | 1055986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/15/43 | 1105000 | 1115876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 8/15/44 | 1560000 | 1446851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/15/44 | 5000 | 4950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/15/45 | 900000 | 904921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/15/45 | 1095000 | 1136403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 8/15/45 | 455000 | 464740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/51 | 7255000 | 4664618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/15/53 | 1060000 | 1060913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/54 | 1715000 | 1650092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/15/55 | 4015000 | 3943329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/15/55 | 102725000 | 102957405 |
|  U.S. Treasury Notes (US Treasury 3 Month Bill Money Market Yield + 0.16%), 4.057%, 7/31/27(k) | 4850000 | 4846647 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/31/30 | 3225000 | 3245429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/31/30 | 4465000 | 4443447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/35 | 2525000 | 2548227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 8/15/35 | 20270000 | 20434694 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 176065286 |
|  **Total Long-Term Debt Securities (93.1%)**<br>*(Cost $711,048,357)* |  | 698481139 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Foreign Government Treasury Bills (3.2%)** |  |  |
|  Arab Republic of Egypt |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 27.40%, 10/14/25(p) | 640000000 | 13236029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 26.76%, 2/3/26(p) | 549100000 | 10504909 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Foreign Government Treasury Bills** | &nbsp;&nbsp;&nbsp;&nbsp; **Total Foreign Government Treasury Bills** | 23740938 |
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  **Investment Companies (0.8%)** |  |  |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 700000 | 700000 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 5310325 | $5310325 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 6010325 |
|  **Total Short-Term Investments (4.0%)**<br> *(Cost $28,795,076)* |  | 29751263 |
|  **Total Investments in Securities (97.1%)**<br> *(Cost $739,843,433)* |  | 728232402 |
|  **Other Assets Less Liabilities (2.9%)** | **Other Assets Less Liabilities (2.9%)** | 21740153 |
|  **Net Assets (100%)** |  | $749972555 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

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

---

| | |
|:---|:---|
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At September 30, 2025, the market value of these securities amounted to $215,656,950 or 28.8% of net assets.*  |

---

*(e)* *Step Bond – Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of September 30, 2025. Maturity date disclosed is the ultimate maturity date.* 

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

*(k)* *Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of September 30, 2025.* 

*(l)* *Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of September 30, 2025.* 

*(p)* *Yield to maturity.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(y)* *Securities are perpetual and, thus, do not have a predetermined maturity date. The coupon rate for these securities are fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $5,764,730. This was collateralized by cash of $6,010,325 which was subsequently invested in investment companies.* 

*Glossary:* 

*BRL — Brazilian Real* 

*CAD — Canadian Dollar* 

*CHF — Swiss Franc* 

*CLP — Chilean Peso* 

*EGP — Egyptian Pound* 

*EUR — European Currency Unit* 

*FHLMC — Federal Home Loan Mortgage Corp.* 

*FNMA — Federal National Mortgage Association* 

*GBP — British Pound* 

*GNMA — Government National Mortgage Association* 

*IO — Interest Only* 

*JPY — Japanese Yen* 

*KRW — Korean (South) Won* 

*MXN — Mexican Peso* 

*PIK — Payment-in Kind Security* 

*REIT — Real Estate Investment Trust* 

*REMIC — Real Estate Mortgage Investment Conduit* 

*SEK — Swedish Krona* 

*SOFR — Secured Overnight Financing Rate* 

*STACR — Structured Agency Credit Risk* 

*UMBS — Uniform Mortgage-Backed Securities* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  Long Gilt | 311 | 12/2025 | GBP | 37995093 | 206054 |
|  U.S. Treasury 5 Year Note | 80 | 12/2025 | USD | 8735625 | 10726 |
|  U.S. Treasury 10 Year Note | 113 | 12/2025 | USD | 12712500 | 43129 |
|  U.S. Treasury 10 Year Ultra |  |  |  |  |  |
|  Note | 297 | 12/2025 | USD | 34178203 | 314309 |
|  |  |  |  |  | 574218 |
|  **Short Contracts** |  |  |  |  |  |
|  Canada 10 Year Bond | (594) | 12/2025 | CAD | (52267903) | (1171119) |
|  Japan 10 Year Bond | (60) | 12/2025 | JPY | (55092809) | 423019 |
|  |  |  |  |  | (748100) |
|  |  |  |  |  | (173882) |

---

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  USD | 18614481 | CAD | 25720000 | Goldman Sachs Bank USA | 10/28/2025 | 108208 |
|  MXN | 205100000 | USD | 10948813 | Standard Chartered Bank | 10/29/2025 | 216588 |
|  EUR | 15680000 | USD | 18370531 | JPMorgan Chase Bank | 11/5/2025 | 78322 |
|  EUR | 14910000 | USD | 17536098 | Morgan Stanley | 11/5/2025 | 6784 |
|  SEK | 174700000 | USD | 18542793 | JPMorgan Chase Bank | 12/12/2025 | 97927 |
|  USD | 18751812 | SEK | 174600000 | Goldman Sachs Bank USA | 12/12/2025 | 121762 |
|  USD | 37295233 | CHF | 29230000 | Goldman Sachs Bank USA | 1/13/2026 | 118657 |
|  JPY | 8282000000 | USD | 56616865 | Citibank NA | 1/16/2026 | 1313 |
|  USD | 18765473 | JPY | 2744000000 | Citibank NA | 1/16/2026 | 6685 |
|  **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** |  | 756246 |
|  CAD | 66310000 | USD | 48202914 | Citibank NA | 10/28/2025 | (490982) |
|  USD | 33628682 | MXN | 630600000 | Citibank NA | 10/29/2025 | (700435) |
|  USD | 1097257 | MXN | 20200000 | Morgan Stanley | 10/29/2025 | (2407) |
|  EUR | 6360000 | USD | 7495361 | JPMorgan Chase Bank | 11/5/2025 | (12281) |
|  USD | 80275272 | EUR | 69140000 | JPMorgan Chase Bank | 11/5/2025 | (1073815) |
|  CLP | 28940000000 | USD | 30339374 | HSBC Bank plc<sup>\*\*</sup> | 11/12/2025 | (234944) |
|  KRW | 15740000000 | USD | 11471383 | Citibank NA<sup>\*\*</sup> | 11/12/2025 | (230001) |
|  USD | 18519893 | SEK | 174700000 | JPMorgan Chase Bank | 12/12/2025 | (120828) |
|  USD | 18685917 | CHF | 14780000 | Goldman Sachs Bank USA | 1/13/2026 | (112228) |
|  USD | 19072161 | JPY | 2805000000 | Citibank NA | 1/16/2026 | (103640) |
|  USD | 8837284 | JPY | 1310000000 | HSBC Bank plc | 1/16/2026 | (118260) |
|  **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** |  | (3199821) |
|  **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** |  | (2443575) |

---

\*\* Non-deliverable forward.

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Centrally Cleared Credit default swap contracts outstanding - buy protection as of September 30, 2025 (Note 1):** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br>Obligation/Index** | **Financing<br>Rate (Paid) /<br>Received by<br>the Portfolio<br>(%)** | **Frequency of<br>Payments<br>Made/Received** | **Maturity<br>Date** | **Implied<br>Credit<br>Spread (%)** | **Notional Amount** | **Notional Amount** | **Upfront<br>(Payments)<br>Receipts ($)** | **Unrealized<br>Appreciation<br>(Depreciation) ($)** | **Value ($)** |
|  CDX North American |  |  |  |  |  |  |  |  |  |
|  High Yield Index |  |  |  |  |  |  |  |  |  |
|  Series 44-V1 | 5.00 | Quarterly | 6/20/2030 | 3.02 | USD | 52620000 | (3703822) | (525361) | (4229183) |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Asset-Backed Securities** | $— | $61479975 | $— | $61479975 |
|  **Collateralized Mortgage Obligations** |  | 14396441 |  | 14396441 |
|  **Commercial Mortgage-Backed Securities** |  | 38206052 |  | 38206052 |
|  **Corporate Bonds** |  |  |  |  |
|  Communication Services |  | 9260637 |  | 9260637 |
|  Consumer Discretionary |  | 24273398 | — (a) | 24273398 |
|  Consumer Staples |  | 7697998 |  | 7697998 |
|  Energy |  | 18710399 |  | 18710399 |
|  Financials |  | 84018393 |  | 84018393 |
|  Health Care |  | 9929528 |  | 9929528 |
|  Industrials |  | 17738019 |  | 17738019 |
|  Information Technology |  | 16169810 |  | 16169810 |
|  Materials |  | 13058693 |  | 13058693 |
|  Real Estate |  | 4840947 |  | 4840947 |
|  Utilities |  | 10658246 |  | 10658246 |
|  **Foreign Government Securities** |  | 67401193 |  | 67401193 |
|  **Forward Currency Contracts** |  | 756246 |  | 756246 |
|  **Futures** | 997237 |  |  | 997237 |
|  **Mortgage-Backed Securities** |  | 124576124 |  | 124576124 |
|  **Short-Term Investments** |  |  |  |  |
|  Foreign Government Treasury Bills |  | 23740938 |  | 23740938 |
|  Investment Companies | 6010325 |  |  | 6010325 |
|  **U.S. Treasury Obligations** |  | 176065286 |  | 176065286 |
|  **Total Assets** | $**7007562** | $**722978323** | $**—** | $**729985885** |
|  **Liabilities:** |  |  |  |  |
|  **Centrally Cleared Credit Default Swaps** | $— | $(525361) | $— | $(525361) |
|  **Forward Currency Contracts** |  | (3199821) |  | (3199821) |
|  **Futures** | (1171119) |  |  | (1171119) |
|  **Total Liabilities** | $**(1171119)** | $**(3725182)** | $**—** | $**(4896301)** |
|  **Total** | $**5836443** | $**719253141** | $**—** | $**725089584** |

---

(a) Value is zero.

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $12551342 |
|  Aggregate gross unrealized depreciation | (25750744) |
|  Net unrealized depreciation | $(13199402) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $734585164 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EMERGING MARKETS EQUITY PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Brazil (5.5%)** |  |  |
|  Ambev SA | 339291 | $769457 |
|  B3 SA - Brasil Bolsa Balcao | 52265 | 131098 |
|  Banco Bradesco SA | 15196 | 43456 |
|  Banco Bradesco SA (Preference)(q) | 48381 | 161081 |
|  Banco Bradesco SA (ADR) | 173737 | 587231 |
|  Banco BTG Pactual SA | 11079 | 100564 |
|  Banco do Brasil SA | 15588 | 64434 |
|  BB Seguridade Participacoes SA | 7812 | 48790 |
|  Centrais Eletricas Brasileiras SA | 10350 | 102134 |
|  Cia de Saneamento Basico do Estado de Sao Paulo | 3896 | 96744 |
|  Cia Energetica de Minas Gerais (Preference)(q) | 13635 | 28411 |
|  Embraer SA | 6169 | 92658 |
|  Equatorial Energia SA | 9398 | 65158 |
|  Gerdau SA (Preference)(q) | 12862 | 40237 |
|  Itau Unibanco Holding SA (Preference)(q) | 45118 | 330867 |
|  Itau Unibanco Holding SA (ADR) | 79555 | 583934 |
|  Itausa SA (Preference)(q) | 56835 | 123126 |
|  Klabin SA | 8800 | 29696 |
|  Localiza Rent a Car SA | 8299 | 61514 |
|  NU Holdings Ltd., Class A\* | 28704 | 459551 |
|  Petroleo Brasileiro SA - Petrobras | 34166 | 216079 |
|  Petroleo Brasileiro SA - Petrobras (Preference)(q) | 41223 | 242819 |
|  Petroleo Brasileiro SA - Petrobras (ADR) | 26877 | 340263 |
|  PRIO SA\* | 6935 | 49632 |
|  Raia Drogasil SA | 11123 | 38371 |
|  Rede D'Or Sao Luiz SA(m) | 7027 | 55690 |
|  Rumo SA | 12965 | 38708 |
|  Suzano SA\* | 7853 | 73583 |
|  Telefonica Brasil SA\* | 9600 | 61345 |
|  TIM SA | 7200 | 31764 |
|  TOTVS SA | 3956 | 33931 |
|  Vale SA | 31464 | 340401 |
|  Vibra Energia SA | 10611 | 49125 |
|  WEG SA | 14388 | 98646 |
|  XP, Inc., Class A | 48881 | 918474 |
|  |  | 6508972 |
|  **Chile (0.8%)** |  |  |
|  Banco de Chile | 462284 | 70196 |
|  Banco de Credito e Inversiones SA | 655 | 28954 |
|  Banco Santander Chile | 707561 | 46865 |
|  Cencosud SA | 11427 | 32507 |
|  Empresas Copec SA | 4090 | 29949 |
|  Enel Chile SA | 382107 | 29569 |
|  Falabella SA | 6082 | 36058 |
|  Latam Airlines Group SA | 1771009 | 40249 |
|  Sociedad Quimica y Minera de Chile SA (Preference), Class B(q)\* | 1224 | 52815 |
|  Sociedad Quimica y Minera de Chile SA (ADR)\* | 12848 | 552207 |
|  |  | 919369 |
|  **China (30.1%)** |  |  |
|  360 Security Technology, Inc., Class A | 6600 | 10486 |
|  37 Interactive Entertainment Network Technology Group Co. Ltd., Class A | 3900 | 11894 |
|  3SBio, Inc.(m) | 15233 | 58724 |
|  AAC Technologies Holdings, Inc. | 8075 | 47462 |
|  Agricultural Bank of China Ltd., Class H | 242452 | 163567 |
|  Agricultural Bank of China Ltd., Class A | 43400 | 40666 |
|  Aier Eye Hospital Group Co. Ltd., Class A | 6500 | 11268 |
|  Air China Ltd., Class A\* | 9800 | 10890 |
|  Airtac International Group | 1516 | 37455 |
|  Akeso, Inc.(m)\* | 5275 | 95713 |
|  Alibaba Group Holding Ltd. | 145369 | 3306409 |
|  Alibaba Health Information Technology Ltd.\* | 40386 | 34563 |
|  Aluminum Corp. of China Ltd., Class A | 13700 | 15858 |
|  Aluminum Corp. of China Ltd., Class H | 27304 | 28315 |
|  Anhui Conch Cement Co. Ltd., Class H | 10537 | 31820 |
|  Anhui Gujing Distillery Co. Ltd., Class A | 300 | 6767 |
|  ANTA Sports Products Ltd. | 10667 | 128164 |
|  Autohome, Inc. (ADR) | 529 | 15103 |
|  Avary Holding Shenzhen Co. Ltd., Class A | 2200 | 17329 |
|  AviChina Industry & Technology Co. Ltd., Class H(x) | 20991 | 11761 |
|  Baidu, Inc., Class A\* | 20542 | 351608 |
|  Baidu, Inc. (ADR)(x)\* | 4788 | 630915 |
|  Bank of Beijing Co. Ltd., Class A | 20300 | 15713 |
|  Bank of Chengdu Co. Ltd., Class A | 6200 | 15024 |
|  Bank of China Ltd., Class H | 613761 | 335985 |
|  Bank of China Ltd., Class A | 29700 | 21612 |
|  Bank of Communications Co. Ltd., Class A | 19500 | 18408 |
|  Bank of Communications Co. Ltd., Class H | 71634 | 60110 |
|  Bank of Hangzhou Co. Ltd., Class A | 5900 | 12656 |
|  Bank of Jiangsu Co. Ltd., Class A | 14100 | 19867 |
|  Bank of Nanjing Co. Ltd., Class A | 9600 | 14740 |
|  Bank of Ningbo Co. Ltd., Class A | 6500 | 24134 |
|  Bank of Shanghai Co. Ltd., Class A | 12700 | 15986 |
|  Baoshan Iron & Steel Co. Ltd., Class A | 12500 | 12415 |
|  Beijing Enterprises Holdings Ltd. | 4062 | 17361 |
|  Beijing Enterprises Water Group Ltd. | 36959 | 11351 |
|  Beijing Kingsoft Office Software, Inc., Class A | 346 | 15384 |
|  Beijing Tong Ren Tang Co. Ltd., Class A | 2200 | 10514 |
|  Beijing Wantai Biological Pharmacy Enterprise Co. Ltd., Class A\* | 1869 | 14848 |
|  Beijing-Shanghai High Speed Railway Co. Ltd., Class A | 22500 | 16215 |
|  BeOne Medicines Ltd., Class H\* | 7103 | 187297 |
|  Bilibili, Inc., Class Z\* | 2013 | 58099 |
|  BOC Aviation Ltd.(m) | 86200 | 770953 |
|  Bosideng International Holdings Ltd. | 26968 | 16080 |
|  BYD Co. Ltd., Class H | 83101 | 1176791 |
|  BYD Co. Ltd., Class A | 2402 | 36851 |
|  BYD Electronic International Co. Ltd. | 6850 | 36389 |
|  C&D International Investment Group Ltd. | 5493 | 12628 |
|  Cambricon Technologies Corp. Ltd., Class A\* | 217 | 40392 |
|  CGN Power Co. Ltd., Class H(m) | 115031 | 42719 |
|  Changchun High-Tech Industry Group Co. Ltd., Class A | 900 | 16436 |
|  Chaozhou Three-Circle Group Co. Ltd., Class A | 3400 | 22129 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EMERGING MARKETS EQUITY PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  China CITIC Bank Corp. Ltd., Class H | 77354 | $66500 |
|  China Construction Bank Corp., Class H | 830394 | 798174 |
|  China CSSC Holdings Ltd., Class A | 3800 | 18470 |
|  China Eastern Airlines Corp. Ltd., Class A\* | 18500 | 10785 |
|  China Energy Engineering Corp. Ltd., Class A | 32000 | 10834 |
|  China Everbright Bank Co. Ltd., Class A | 27100 | 12791 |
|  China Everbright Bank Co. Ltd., Class H | 38342 | 15964 |
|  China Feihe Ltd.(m) | 25661 | 13190 |
|  China Galaxy Securities Co. Ltd., Class H | 25162 | 38283 |
|  China Gas Holdings Ltd. | 20606 | 20177 |
|  China Hongqiao Group Ltd. | 24646 | 83674 |
|  China International Capital Corp. Ltd., Class A | 1900 | 9846 |
|  China International Capital Corp. Ltd., Class H(m) | 12618 | 34699 |
|  China Jushi Co. Ltd., Class A | 7600 | 18513 |
|  China Life Insurance Co. Ltd., Class H | 65859 | 187033 |
|  China Life Insurance Co. Ltd., Class A | 3100 | 17263 |
|  China Literature Ltd.(m)(x)\* | 2830 | 14357 |
|  China Longyuan Power Group Corp. Ltd., Class H | 27731 | 29613 |
|  China Mengniu Dairy Co. Ltd. | 27275 | 52574 |
|  China Merchants Bank Co. Ltd., Class A | 10000 | 56768 |
|  China Merchants Bank Co. Ltd., Class H | 33441 | 200940 |
|  China Merchants Energy Shipping Co. Ltd., Class A | 13300 | 16591 |
|  China Merchants Port Holdings Co. Ltd. | 10365 | 19406 |
|  China Merchants Securities Co. Ltd., Class A | 5400 | 12980 |
|  China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A | 7000 | 10001 |
|  China Minsheng Banking Corp. Ltd., Class A | 23300 | 13027 |
|  China Minsheng Banking Corp. Ltd., Class H | 40320 | 21295 |
|  China National Building Material Co. Ltd., Class H | 28033 | 19885 |
|  China National Nuclear Power Co. Ltd., Class A | 12300 | 15050 |
|  China Northern Rare Earth Group High-Tech Co. Ltd., Class A | 4200 | 28498 |
|  China Oilfield Services Ltd., Class H | 14287 | 12264 |
|  China Overseas Land & Investment Ltd. | 30956 | 57123 |
|  China Pacific Insurance Group Co. Ltd., Class A | 3300 | 16281 |
|  China Pacific Insurance Group Co. Ltd., Class H | 21306 | 84819 |
|  China Petroleum & Chemical Corp., Class A | 21700 | 16126 |
|  China Petroleum & Chemical Corp., Class H | 222383 | 115736 |
|  China Power International Development Ltd. | 42899 | 17806 |
|  China Railway Group Ltd., Class H | 27671 | 13974 |
|  China Railway Group Ltd., Class A | 15300 | 11843 |
|  China Resources Beer Holdings Co. Ltd. | 13811 | 48699 |
|  China Resources Gas Group Ltd. | 6220 | 15858 |
|  China Resources Land Ltd. | 27662 | 107990 |
|  China Resources Microelectronics Ltd., Class A | 1732 | 13516 |
|  China Resources Mixc Lifestyle Services Ltd.(m) | 5604 | 29770 |
|  China Resources Pharmaceutical Group Ltd.(m) | 1242 | 768 |
|  China Resources Power Holdings Co. Ltd.(x) | 16587 | 38025 |
|  China Ruyi Holdings Ltd.(x)\* | 48798 | 18624 |
|  China Shenhua Energy Co. Ltd., Class H | 30762 | 147051 |
|  China Shenhua Energy Co. Ltd., Class A | 3400 | 18389 |
|  China Southern Airlines Co. Ltd., Class A\* | 12300 | 10454 |
|  China State Construction Engineering Corp. Ltd., Class A | 18400 | 14087 |
|  China State Construction International Holdings Ltd. | 13950 | 17765 |
|  China Taiping Insurance Holdings Co. Ltd. | 11196 | 21897 |
|  China Tower Corp. Ltd., Class H(m) | 36279 | 53519 |
|  China United Network Communications Ltd., Class A | 23100 | 17848 |
|  China Vanke Co. Ltd., Class A\* | 13400 | 12970 |
|  China Yangtze Power Co. Ltd., Class A | 12200 | 46703 |
|  Chongqing Changan Automobile Co. Ltd., Class A | 8450 | 14518 |
|  Chongqing Zhifei Biological Products Co. Ltd., Class A | 1834 | 5349 |
|  Chow Tai Fook Jewellery Group Ltd.(x) | 17069 | 34129 |
|  CITIC Ltd. | 47016 | 68996 |
|  CITIC Securities Co. Ltd., Class A | 5200 | 21842 |
|  CITIC Securities Co. Ltd., Class H | 13770 | 54500 |
|  CMOC Group Ltd., Class A | 16500 | 36392 |
|  CMOC Group Ltd., Class H | 27294 | 55030 |
|  CNGR Advanced Material Co. Ltd., Class A | 560 | 3926 |
|  Contemporary Amperex Technology Co. Ltd., Class A | 2059 | 116278 |
|  Contemporary Amperex Technology Co. Ltd., Class H(x) | 734 | 53904 |
|  COSCO SHIPPING Energy Transportation Co. Ltd., Class A | 6000 | 10216 |
|  COSCO SHIPPING Holdings Co. Ltd., Class A | 9000 | 18131 |
|  COSCO SHIPPING Holdings Co. Ltd., Class H(x) | 22544 | 35082 |
|  CRRC Corp. Ltd., Class H | 32579 | 25119 |
|  CRRC Corp. Ltd., Class A | 15200 | 15951 |
|  CSC Financial Co. Ltd., Class A | 3400 | 12810 |
|  CSPC Pharmaceutical Group Ltd. | 76349 | 91929 |
|  Daqin Railway Co. Ltd., Class A | 12800 | 10591 |
|  Dongfang Electric Corp. Ltd., Class A | 4300 | 11652 |
|  East Money Information Co. Ltd., Class A | 8200 | 31241 |
|  ENN Energy Holdings Ltd. | 6393 | 52865 |
|  ENN Natural Gas Co. Ltd., Class A | 5100 | 12882 |
|  Eve Energy Co. Ltd., Class A | 2400 | 30681 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EMERGING MARKETS EQUITY PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Everbright Securities Co. Ltd., Class A | 6500 | $17185 |
|  Far East Horizon Ltd. | 16103 | 14216 |
|  Flat Glass Group Co. Ltd., Class A | 1700 | 4120 |
|  Focus Media Information Technology Co. Ltd., Class A | 11600 | 13134 |
|  Foshan Haitian Flavouring & Food Co. Ltd., Class A | 3700 | 20250 |
|  Fosun International Ltd. | 17382 | 12307 |
|  Foxconn Industrial Internet Co. Ltd., Class A | 8000 | 74185 |
|  Fuyao Glass Industry Group Co. Ltd., Class A | 1800 | 18563 |
|  Fuyao Glass Industry Group Co. Ltd., Class H(m) | 4201 | 42269 |
|  Ganfeng Lithium Group Co. Ltd., Class A | 3080 | 26341 |
|  GCL Technology Holdings Ltd.\* | 173521 | 29210 |
|  GD Power Development Co. Ltd., Class A | 22100 | 15461 |
|  GDS Holdings Ltd., Class A\* | 8844 | 45550 |
|  Geely Automobile Holdings Ltd. | 48576 | 122034 |
|  Genscript Biotech Corp.(x)\* | 8779 | 18862 |
|  GF Securities Co. Ltd., Class A | 8300 | 25978 |
|  Giant Biogene Holding Co. Ltd.(m) | 2673 | 19407 |
|  GoerTek, Inc., Class A | 5500 | 28974 |
|  Goneo Group Co. Ltd., Class A | 2436 | 15283 |
|  Gotion High-tech Co. Ltd., Class A | 2900 | 19017 |
|  Great Wall Motor Co. Ltd., Class H | 20829 | 44967 |
|  Gree Electric Appliances, Inc. of Zhuhai, Class A | 2300 | 12834 |
|  Guangdong Haid Group Co. Ltd., Class A | 1300 | 11646 |
|  Guangdong Investment Ltd. | 27094 | 24615 |
|  Guanghui Energy Co. Ltd., Class A | 8100 | 5735 |
|  Guangzhou Tinci Materials Technology Co. Ltd., Class A | 1600 | 8579 |
|  Guosen Securities Co. Ltd., Class A | 8100 | 15396 |
|  Guotai Haitong Securities Co. Ltd., Class H(m) | 11707 | 24160 |
|  H World Group Ltd. (ADR) | 1648 | 64453 |
|  Haidilao International Holding Ltd.(m)(x) | 14435 | 24893 |
|  Haier Smart Home Co. Ltd., Class A | 3200 | 11387 |
|  Haier Smart Home Co. Ltd., Class H | 19657 | 64008 |
|  Haitian International Holdings Ltd. | 5159 | 14214 |
|  Hangzhou First Applied Material Co. Ltd., Class A | 1920 | 4235 |
|  Hangzhou Silan Microelectronics Co. Ltd., Class A | 1500 | 6625 |
|  Hangzhou Tigermed Consulting Co. Ltd., Class A | 1000 | 8148 |
|  Hansoh Pharmaceutical Group Co. Ltd.(m)(x) | 8200 | 37997 |
|  Henan Shuanghui Investment & Development Co. Ltd., Class A | 3000 | 10426 |
|  Hengan International Group Co. Ltd. | 6606 | 21562 |
|  Horizon Robotics\* | 34830 | 42878 |
|  Hoshine Silicon Industry Co. Ltd., Class A | 700 | 4863 |
|  Hua Hong Semiconductor Ltd., Class H(m)\* | 5600 | 57569 |
|  Huadian Power International Corp. Ltd., Class A | 13900 | 9939 |
|  Huadong Medicine Co. Ltd., Class A | 2300 | 13425 |
|  Huaneng Power International, Inc., Class H | 26775 | 18648 |
|  Huaneng Power International, Inc., Class A | 10000 | 9918 |
|  Huatai Securities Co. Ltd., Class A | 5300 | 16209 |
|  Huatai Securities Co. Ltd., Class H(m) | 10711 | 28326 |
|  Huayu Automotive Systems Co. Ltd., Class A | 3900 | 11231 |
|  Huizhou Desay Sv Automotive Co. Ltd., Class A | 700 | 14871 |
|  Hundsun Technologies, Inc., Class A | 2800 | 13578 |
|  Hygon Information Technology Co. Ltd., Class A | 1749 | 62064 |
|  Iflytek Co. Ltd., Class A | 1900 | 14960 |
|  Imeik Technology Development Co. Ltd., Class A | 420 | 10712 |
|  Industrial & Commercial Bank of China Ltd., Class A | 26100 | 26766 |
|  Industrial & Commercial Bank of China Ltd., Class H | 965069 | 711839 |
|  Industrial Bank Co. Ltd., Class A | 8600 | 23981 |
|  Inner Mongolia BaoTou Steel Union Co. Ltd., Class A | 35900 | 12003 |
|  Innovent Biologics, Inc.(m)\* | 12299 | 152356 |
|  JA Solar Technology Co. Ltd., Class A\* | 7060 | 13032 |
|  JD Health International, Inc.(m)\* | 9566 | 81745 |
|  JD Logistics, Inc.(m)\* | 17101 | 28788 |
|  JD.com, Inc., Class A | 21666 | 385603 |
|  Jiangsu Expressway Co. Ltd., Class H | 13780 | 15972 |
|  Jiangsu Hengli Hydraulic Co. Ltd., Class A | 1100 | 14799 |
|  Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A | 2600 | 26133 |
|  Jiangsu King's Luck Brewery JSC Ltd., Class A | 2100 | 11594 |
|  Jiangsu Yanghe Distillery Co. Ltd., Class A | 1600 | 15271 |
|  Jiangsu Zhongtian Technology Co. Ltd., Class A | 4100 | 10897 |
|  Jiangxi Copper Co. Ltd., Class H | 306623 | 1201756 |
|  Jinko Solar Co. Ltd., Class A\* | 10288 | 8036 |
|  Kanzhun Ltd. (ADR)\* | 3125 | 73000 |
|  KE Holdings, Inc., Class A | 17656 | 119454 |
|  Kingdee International Software Group Co. Ltd.\* | 22327 | 50266 |
|  Kingsoft Corp. Ltd. | 8075 | 35924 |
|  Kuaishou Technology(m) | 23119 | 251334 |
|  Kunlun Energy Co. Ltd. | 35918 | 32124 |
|  Kweichow Moutai Co. Ltd., Class A | 600 | 121711 |
|  Lenovo Group Ltd. | 66278 | 98370 |
|  Lens Technology Co. Ltd., Class A | 4400 | 20694 |
|  Li Auto, Inc., Class A\* | 10456 | 136243 |
|  Li Ning Co. Ltd. | 20187 | 45760 |
|  Longfor Group Holdings Ltd.(m) | 14732 | 22490 |
|  LONGi Green Energy Technology Co. Ltd., Class A\* | 3080 | 7788 |
|  Luxshare Precision Industry Co. Ltd., Class A | 2900 | 26354 |
|  Mango Excellent Media Co. Ltd., Class A | 2200 | 11052 |
|  Maxscend Microelectronics Co. Ltd., Class A | 480 | 5605 |
|  Meitu, Inc.(m)\* | 28987 | 34530 |
|  Meituan, Class B(m)\* | 42631 | 572471 |
|  Metallurgical Corp. of China Ltd., Class A | 31200 | 16874 |
|  Midea Group Co. Ltd., Class A | 2200 | 22456 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EMERGING MARKETS EQUITY PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Midea Group Co. Ltd., Class H | 3200 | $33822 |
|  MINISO Group Holding Ltd. | 3453 | 19763 |
|  Montage Technology Co. Ltd., Class A | 1153 | 25073 |
|  Muyuan Foods Co. Ltd., Class A | 2100 | 15635 |
|  NARI Technology Co. Ltd., Class A | 3456 | 11147 |
|  NAURA Technology Group Co. Ltd., Class A | 405 | 25737 |
|  NetEase Cloud Music, Inc.(m)\* | 736 | 24571 |
|  NetEase, Inc. | 14902 | 453459 |
|  New China Life Insurance Co. Ltd., Class H | 7910 | 46920 |
|  New Hope Liuhe Co. Ltd., Class A | 6100 | 8398 |
|  New Oriental Education & Technology Group, Inc.\* | 13567 | 73676 |
|  Ninestar Corp., Class A\* | 2200 | 7254 |
|  Ningbo Deye Technology Co. Ltd., Class A | 2116 | 24078 |
|  Ningxia Baofeng Energy Group Co. Ltd., Class A | 5600 | 14003 |
|  NIO, Inc., Class A(x)\* | 11887 | 87679 |
|  Nongfu Spring Co. Ltd., Class H(m) | 17805 | 123323 |
|  Oppein Home Group, Inc., Class A | 700 | 5241 |
|  PDD Holdings, Inc. (ADR)\* | 6090 | 804915 |
|  People's Insurance Co. Group of China Ltd. (The), Class A | 19700 | 21559 |
|  People's Insurance Co. Group of China Ltd. (The), Class H | 74868 | 65517 |
|  PetroChina Co. Ltd., Class H | 192170 | 174836 |
|  PetroChina Co. Ltd., Class A | 17200 | 19475 |
|  Pharmaron Beijing Co. Ltd., Class A | 1350 | 6780 |
|  PICC Property & Casualty Co. Ltd., Class H | 55754 | 125809 |
|  Ping An Bank Co. Ltd., Class A | 8000 | 12744 |
|  Ping An Insurance Group Co. of China Ltd., Class A | 5600 | 43354 |
|  Ping An Insurance Group Co. of China Ltd., Class H | 57361 | 391033 |
|  Poly Property Services Co. Ltd., Class H(m) | 140400 | 628214 |
|  Pop Mart International Group Ltd.(m) | 4597 | 157606 |
|  Postal Savings Bank of China Co. Ltd., Class A | 16600 | 13409 |
|  Postal Savings Bank of China Co. Ltd., Class H(m) | 68063 | 47755 |
|  Qfin Holdings, Inc. (ADR), Class A | 1009 | 29039 |
|  Qinghai Salt Lake Industry Co. Ltd., Class A\* | 3700 | 10837 |
|  Rongsheng Petrochemical Co. Ltd., Class A | 15100 | 20470 |
|  Sanan Optoelectronics Co. Ltd., Class A | 7800 | 17072 |
|  Sany Heavy Industry Co. Ltd., Class A | 8900 | 29056 |
|  Satellite Chemical Co. Ltd., Class A | 4505 | 12240 |
|  Seres Group Co. Ltd., Class A | 1300 | 31333 |
|  SG Micro Corp., Class A | 1521 | 17797 |
|  Shaanxi Coal Industry Co. Ltd., Class A | 5300 | 14891 |
|  Shandong Gold Mining Co. Ltd., Class H(m) | 6907 | 32787 |
|  Shandong Gold Mining Co. Ltd., Class A | 4600 | 25415 |
|  Shandong Hualu Hengsheng Chemical Co. Ltd., Class A | 3300 | 12336 |
|  Shandong Weigao Group Medical Polymer Co. Ltd., Class H | 27428 | 20478 |
|  Shanghai Baosight Software Co. Ltd., Class A | 3456 | 11273 |
|  Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A | 1800 | 7545 |
|  Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H(x) | 160000 | 530047 |
|  Shanghai International Airport Co. Ltd., Class A | 2700 | 12096 |
|  Shanghai Pudong Development Bank Co. Ltd., Class A | 16900 | 28252 |
|  Shanghai Putailai New Energy Technology Co. Ltd., Class A | 1740 | 7558 |
|  Shanghai Rural Commercial Bank Co. Ltd., Class A | 18600 | 21374 |
|  Shanghai United Imaging Healthcare Co. Ltd., Class A | 925 | 19713 |
|  Shanxi Coking Coal Energy Group Co. Ltd., Class A | 7000 | 6834 |
|  Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A | 500 | 13627 |
|  Shenwan Hongyuan Group Co. Ltd., Class A | 18200 | 13627 |
|  Shenzhen Inovance Technology Co. Ltd., Class A | 1900 | 22373 |
|  Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A | 500 | 17257 |
|  Shenzhen Transsion Holdings Co. Ltd., Class A | 1428 | 18897 |
|  Shenzhou International Group Holdings Ltd. | 77885 | 617019 |
|  Sichuan Chuantou Energy Co. Ltd., Class A | 7500 | 15045 |
|  Sichuan Kelun-Biotech Biopharmaceutical Co. Ltd., Class H(x)\* | 413 | 27279 |
|  Sichuan Road and Bridge Group Co. Ltd., Class A | 12740 | 14479 |
|  Silergy Corp. | 2576 | 21806 |
|  Sinopharm Group Co. Ltd., Class H | 231776 | 546235 |
|  Smoore International Holdings Ltd.(m)(x) | 12083 | 27374 |
|  Sunny Optical Technology Group Co. Ltd. | 6110 | 71017 |
|  TAL Education Group (ADR)\* | 4182 | 46838 |
|  TCL Technology Group Corp., Class A | 26290 | 15918 |
|  TCL Zhonghuan Renewable Energy Technology Co. Ltd., Class A\* | 2750 | 3496 |
|  Tencent Holdings Ltd. | 79106 | 6739606 |
|  Tencent Music Entertainment Group (ADR) | 4851 | 113222 |
|  Tianqi Lithium Corp., Class A\* | 2700 | 18043 |
|  Tingyi Cayman Islands Holding Corp. | 16474 | 22059 |
|  Tongcheng Travel Holdings Ltd.(m) | 7983 | 23594 |
|  TravelSky Technology Ltd., Class H | 589983 | 805148 |
|  Trina Solar Co. Ltd., Class A\* | 1157 | 2823 |
|  Trip.com Group Ltd. | 5341 | 409054 |
|  Tsingtao Brewery Co. Ltd., Class A | 1000 | 9260 |
|  Tsingtao Brewery Co. Ltd., Class H | 5436 | 37023 |
|  Unigroup Guoxin Microelectronics Co. Ltd., Class A | 1959 | 24853 |
|  Unisplendour Corp. Ltd., Class A | 4600 | 19503 |
|  Vipshop Holdings Ltd. (ADR) | 3654 | 71765 |
|  Wanhua Chemical Group Co. Ltd., Class A | 1300 | 12159 |
|  Want Want China Holdings Ltd. | 36211 | 24615 |
|  Weichai Power Co. Ltd., Class H | 285768 | 512271 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EMERGING MARKETS EQUITY PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Weichai Power Co. Ltd., Class A | 5400 | $10635 |
|  Wens Foodstuff Group Co. Ltd., Class A | 4700 | 12287 |
|  Wingtech Technology Co. Ltd., Class A\* | 2400 | 15671 |
|  Wuliangye Yibin Co. Ltd., Class A | 1900 | 32424 |
|  WuXi AppTec Co. Ltd., Class A | 1000 | 15738 |
|  WuXi AppTec Co. Ltd., Class H(m) | 3043 | 46416 |
|  Wuxi Biologics Cayman, Inc.(m)\* | 32857 | 173026 |
|  XCMG Construction Machinery Co. Ltd., Class A | 19500 | 31503 |
|  Xiaomi Corp., Class B(m)\* | 146513 | 1016673 |
|  Xinjiang Daqo New Energy Co. Ltd., Class A\* | 3122 | 12600 |
|  Xinyi Solar Holdings Ltd.(x) | 39532 | 17475 |
|  XPeng, Inc., Class A\* | 10728 | 128414 |
|  Yadea Group Holdings Ltd.(m) | 9032 | 16098 |
|  Yankuang Energy Group Co. Ltd., Class A | 5070 | 9480 |
|  Yankuang Energy Group Co. Ltd., Class H | 32978 | 43140 |
|  Yealink Network Technology Corp. Ltd., Class A | 1540 | 8005 |
|  Yihai Kerry Arawana Holdings Co. Ltd., Class A | 4500 | 19945 |
|  Yonyou Network Technology Co. Ltd., Class A\* | 7500 | 16457 |
|  YTO Express Group Co. Ltd., Class A | 4500 | 11600 |
|  Yum China Holdings, Inc. (New York Stock Exchange) | 15749 | 675947 |
|  Yum China Holdings, Inc.(Hong Kong Stock Exchange) | 3136 | 137417 |
|  Yunnan Baiyao Group Co. Ltd., Class A | 1260 | 10045 |
|  Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A | 300 | 8294 |
|  Zhaojin Mining Industry Co. Ltd., Class H | 11548 | 46388 |
|  Zhejiang Chint Electrics Co. Ltd., Class A | 5400 | 23296 |
|  Zhejiang Dahua Technology Co. Ltd., Class A | 4900 | 13870 |
|  Zhejiang Expressway Co. Ltd., Class H | 16432 | 15182 |
|  Zhejiang Huayou Cobalt Co. Ltd., Class A | 1040 | 9628 |
|  Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A | 1300 | 8311 |
|  Zhejiang Leapmotor Technology Co. Ltd., Class H(m)\* | 4442 | 37873 |
|  Zhejiang NHU Co. Ltd., Class A | 3120 | 10445 |
|  Zhejiang Sanhua Intelligent Controls Co. Ltd., Class A | 4400 | 29935 |
|  Zhuzhou CRRC Times Electric Co. Ltd., Class H | 3789 | 20839 |
|  Zijin Mining Group Co. Ltd., Class A | 9400 | 38876 |
|  Zijin Mining Group Co. Ltd., Class H | 46361 | 194215 |
|  ZTE Corp., Class H(x) | 5230 | 23858 |
|  ZTE Corp., Class A | 2900 | 18593 |
|  ZTO Express Cayman, Inc. | 3720 | 70509 |
|  |  | 35379033 |
|  **Colombia (1.3%)** |  |  |
|  Ecopetrol SA | 526370 | 240330 |
|  Grupo Cibest SA | 2059 | 31774 |
|  Grupo Cibest SA (Preference)(q) | 3918 | 51028 |
|  Grupo Cibest SA (ADR) | 23856 | 1239081 |
|  Interconexion Electrica SA ESP | 4497 | 26795 |
|  |  | 1589008 |
|  **Czech Republic (1.0%)** |  |  |
|  CEZ A/S | 1385 | 85967 |
|  Komercni Banka A/S | 22296 | 1117241 |
|  |  | 1203208 |
|  **Egypt (0.1%)** |  |  |
|  Commercial International Bank - Egypt (CIB) | 20487 | 43243 |
|  Eastern Co. SAE | 36347 | 32359 |
|  |  | 75602 |
|  **Greece (0.4%)** |  |  |
|  Alpha Bank SA | 18515 | 78559 |
|  Eurobank Ergasias Services and Holdings SA | 20982 | 80849 |
|  Hellenic Telecommunications Organization SA | 416 | 7873 |
|  JUMBO SA | 430 | 14752 |
|  National Bank of Greece SA | 6874 | 99791 |
|  OPAP SA | 1568 | 36579 |
|  Piraeus Financial Holdings SA | 9215 | 78047 |
|  Public Power Corp. SA | 1606 | 26435 |
|  |  | 422885 |
|  **Hong Kong (0.1%)** |  |  |
|  J&T Global Express Ltd.\* | 20245 | 25443 |
|  Orient Overseas International Ltd. | 986 | 16003 |
|  Sino Biopharmaceutical Ltd. | 84712 | 88609 |
|  |  | 130055 |
|  **Hungary (0.2%)** |  |  |
|  MOL Hungarian Oil & Gas plc | 3803 | 30888 |
|  OTP Bank Nyrt. | 2131 | 184050 |
|  Richter Gedeon Nyrt. | 1130 | 34392 |
|  |  | 249330 |
|  **India (11.9%)** |  |  |
|  ABB India Ltd. | 452 | 26387 |
|  Adani Enterprises Ltd. | 1467 | 41403 |
|  Adani Ports & Special Economic Zone Ltd. | 4268 | 67465 |
|  Adani Power Ltd.\* | 31170 | 50781 |
|  Ambuja Cements Ltd. | 4814 | 30902 |
|  APL Apollo Tubes Ltd. | 1471 | 27934 |
|  Apollo Hospitals Enterprise Ltd. | 813 | 67841 |
|  Ashok Leyland Ltd. | 25502 | 40978 |
|  Asian Paints Ltd. | 3435 | 90915 |
|  AU Small Finance Bank Ltd.(m) | 3155 | 25989 |
|  Aurobindo Pharma Ltd. | 2672 | 32619 |
|  Avenue Supermarts Ltd.(m)\* | 1333 | 67190 |
|  Axis Bank Ltd. | 20378 | 259715 |
|  Bajaj Auto Ltd. | 561 | 54834 |
|  Bajaj Finance Ltd. | 24830 | 279345 |
|  Bajaj Finserv Ltd. | 3952 | 89305 |
|  Bajaj Holdings & Investment Ltd. | 228 | 31449 |
|  Balkrishna Industries Ltd. | 625 | 16153 |
|  Bank of Baroda | 8875 | 25843 |
|  Bharat Electronics Ltd. | 29710 | 135168 |
|  Bharat Forge Ltd. | 2069 | 28252 |
|  Bharat Petroleum Corp. Ltd. | 13348 | 51061 |
|  Bharti Airtel Ltd. | 22472 | 475414 |
|  Bosch Ltd. | 64 | 27495 |
|  Britannia Industries Ltd. | 876 | 59108 |
|  BSE Ltd. | 1702 | 39109 |
|  CG Power & Industrial Solutions Ltd. | 5242 | 43745 |
|  Cholamandalam Investment and Finance Co. Ltd. | 3330 | 60413 |
|  Cipla Ltd. | 5287 | 89515 |
|  Coal India Ltd. | 16235 | 71302 |
|  Colgate-Palmolive India Ltd. | 1111 | 27809 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EMERGING MARKETS EQUITY PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Coromandel International Ltd. | 1010 | $25576 |
|  Cummins India Ltd. | 1204 | 53244 |
|  Dabur India Ltd. | 5000 | 27667 |
|  Divi's Laboratories Ltd. | 1073 | 68757 |
|  Dixon Technologies India Ltd.(m) | 289 | 53127 |
|  DLF Ltd. | 6460 | 51876 |
|  Dr Reddy's Laboratories Ltd. | 4865 | 67050 |
|  Eicher Motors Ltd. | 1105 | 87185 |
|  Eternal Ltd.\* | 20434 | 74911 |
|  FSN E-Commerce Ventures Ltd.\* | 9779 | 25594 |
|  GAIL India Ltd. | 18839 | 37405 |
|  Godrej Consumer Products Ltd. | 3305 | 43436 |
|  Godrej Properties Ltd.\* | 1011 | 22418 |
|  Grasim Industries Ltd. | 2123 | 65919 |
|  Havells India Ltd. | 2025 | 34256 |
|  HCL Technologies Ltd. | 8243 | 128590 |
|  HDFC Asset Management Co. Ltd.(m) | 742 | 46235 |
|  HDFC Bank Ltd. | 97518 | 1044497 |
|  HDFC Bank Ltd. (ADR) | 20574 | 702808 |
|  HDFC Life Insurance Co. Ltd.(m) | 9843 | 83859 |
|  Hero MotoCorp Ltd. | 1052 | 64840 |
|  Hindalco Industries Ltd. | 13286 | 114015 |
|  Hindustan Aeronautics Ltd.(m) | 1774 | 94835 |
|  Hindustan Petroleum Corp. Ltd. | 8424 | 42068 |
|  Hindustan Unilever Ltd. | 7085 | 200639 |
|  Hyundai Motor India Ltd. | 1408 | 40983 |
|  ICICI Bank Ltd. | 44923 | 682026 |
|  ICICI Bank Ltd. (ADR) | 26921 | 813822 |
|  ICICI Lombard General Insurance Co. Ltd.(m) | 1944 | 41377 |
|  ICICI Prudential Life Insurance Co. Ltd.(m) | 2904 | 19467 |
|  IDFC First Bank Ltd. | 28209 | 22167 |
|  Indian Hotels Co. Ltd. (The), Class A | 7274 | 59010 |
|  Indian Oil Corp. Ltd. | 22823 | 38503 |
|  Indian Railway Catering & Tourism Corp. Ltd. | 1939 | 15296 |
|  Indus Towers Ltd.\* | 10660 | 41169 |
|  IndusInd Bank Ltd.\* | 4995 | 41380 |
|  Info Edge India Ltd. | 2865 | 42248 |
|  Infosys Ltd. | 28691 | 465900 |
|  InterGlobe Aviation Ltd.(m) | 1506 | 94892 |
|  ITC Ltd. | 27117 | 122637 |
|  Jindal Stainless Ltd. | 2800 | 23265 |
|  Jindal Steel Ltd. | 3297 | 39500 |
|  Jio Financial Services Ltd. | 26609 | 87869 |
|  JSW Energy Ltd. | 3031 | 18122 |
|  JSW Steel Ltd. | 5842 | 75186 |
|  Kotak Mahindra Bank Ltd. | 9956 | 223444 |
|  Larsen & Toubro Ltd. | 6137 | 252907 |
|  Lodha Developers Ltd.(m) | 3172 | 40577 |
|  LTIMindtree Ltd.(m) | 765 | 44437 |
|  Lupin Ltd. | 1767 | 38037 |
|  Mahindra & Mahindra Ltd. | 8321 | 321168 |
|  Mankind Pharma Ltd. | 868 | 23811 |
|  Marico Ltd. | 4174 | 32785 |
|  Maruti Suzuki India Ltd. | 1104 | 199305 |
|  Max Healthcare Institute Ltd. | 6705 | 84178 |
|  Mphasis Ltd. | 683 | 20422 |
|  MRF Ltd. | 20 | 32846 |
|  Muthoot Finance Ltd. | 1044 | 36181 |
|  Nestle India Ltd. | 6700 | 86998 |
|  NHPC Ltd. | 26127 | 25401 |
|  NTPC Ltd. | 39087 | 149874 |
|  Oberoi Realty Ltd. | 1089 | 19405 |
|  Oil & Natural Gas Corp. Ltd. | 27150 | 73235 |
|  Page Industries Ltd. | 50 | 22911 |
|  PB Fintech Ltd.\* | 2543 | 48747 |
|  Persistent Systems Ltd. | 884 | 48014 |
|  Petronet LNG Ltd. | 6061 | 19032 |
|  Phoenix Mills Ltd. (The) | 1704 | 29853 |
|  PI Industries Ltd. | 613 | 24257 |
|  Pidilite Industries Ltd. | 2464 | 40739 |
|  Polycab India Ltd. | 398 | 32660 |
|  Power Finance Corp. Ltd. | 12146 | 56121 |
|  Power Grid Corp. of India Ltd. | 41114 | 129771 |
|  Prestige Estates Projects Ltd. | 1237 | 21039 |
|  Punjab National Bank | 19156 | 24343 |
|  Rail Vikas Nigam Ltd.(m) | 4461 | 17055 |
|  REC Ltd. | 10919 | 45852 |
|  Reliance Industries Ltd. | 51540 | 791773 |
|  Samvardhana Motherson International Ltd. | 35250 | 41944 |
|  SBI Life Insurance Co. Ltd.(m) | 3685 | 74315 |
|  Shree Cement Ltd. | 87 | 28675 |
|  Shriram Finance Ltd. | 12445 | 86355 |
|  Siemens Ltd. | 769 | 27102 |
|  Solar Industries India Ltd. | 235 | 35270 |
|  SRF Ltd. | 1198 | 38098 |
|  State Bank of India | 16309 | 160254 |
|  Sun Pharmaceutical Industries Ltd. | 8901 | 159827 |
|  Sundaram Finance Ltd. | 578 | 28718 |
|  Supreme Industries Ltd. | 552 | 26233 |
|  Suzlon Energy Ltd.\* | 78004 | 48363 |
|  Swiggy Ltd.\* | 7380 | 35155 |
|  Tata Consultancy Services Ltd. | 8070 | 262526 |
|  Tata Consumer Products Ltd. | 5807 | 73859 |
|  Tata Elxsi Ltd. | 277 | 16307 |
|  Tata Motors Ltd. | 17107 | 131055 |
|  Tata Power Co. Ltd. (The) | 13796 | 60388 |
|  Tata Steel Ltd. | 70152 | 133345 |
|  Tech Mahindra Ltd. | 4625 | 72942 |
|  Titan Co. Ltd. | 3297 | 125027 |
|  Torrent Pharmaceuticals Ltd. | 821 | 33318 |
|  Trent Ltd. | 1544 | 81340 |
|  Tube Investments of India Ltd. | 906 | 31599 |
|  TVS Motor Co. Ltd. | 2080 | 80556 |
|  UltraTech Cement Ltd. | 980 | 134900 |
|  Union Bank of India Ltd. | 13067 | 20384 |
|  United Spirits Ltd. | 2349 | 35036 |
|  UPL Ltd. | 3943 | 29123 |
|  Varun Beverages Ltd. | 11720 | 58568 |
|  Vedanta Ltd. | 11664 | 61191 |
|  Vishal Mega Mart Ltd.\* | 17763 | 29811 |
|  Vodafone Idea Ltd.\* | 209033 | 19140 |
|  Voltas Ltd. | 1856 | 28293 |
|  WAAREE Energies Ltd.\* | 730 | 27365 |
|  Wipro Ltd. | 22080 | 59527 |
|  Yes Bank Ltd.\* | 153764 | 36801 |
|  Zydus Lifesciences Ltd. | 2216 | 24506 |
|  |  | 13995459 |
|  **Indonesia (1.7%)** |  |  |
|  Amman Mineral Internasional PT\* | 122762 | 53223 |
|  Astra International Tbk. PT | 183159 | 63471 |
|  Bank Central Asia Tbk. PT | 482549 | 220788 |
|  Bank Mandiri Persero Tbk. PT | 328096 | 86626 |
|  Bank Negara Indonesia Persero Tbk. PT | 120140 | 29557 |
|  Bank Rakyat Indonesia Persero Tbk. PT | 3483567 | 815236 |
|  Barito Pacific Tbk. PT\* | 199187 | 44821 |
|  Chandra Asri Pacific Tbk. PT | 67504 | 31291 |
|  Charoen Pokphand Indonesia Tbk. PT | 64683 | 18087 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EMERGING MARKETS EQUITY PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Dian Swastatika Sentosa Tbk. PT\* | 8479 | $54034 |
|  GoTo Gojek Tokopedia Tbk. PT, Class A\* | 7156883 | 23191 |
|  Indofood CBP Sukses Makmur Tbk. PT | 22879 | 13008 |
|  Indofood Sukses Makmur Tbk. PT | 1113704 | 482839 |
|  Sumber Alfaria Trijaya Tbk. PT | 177863 | 20599 |
|  Telkom Indonesia Persero Tbk. PT | 432651 | 79443 |
|  United Tractors Tbk. PT | 14428 | 23181 |
|  |  | 2059395 |
|  **Kuwait (0.5%)** |  |  |
|  Boubyan Bank KSCP | 12474 | 28868 |
|  Gulf Bank KSCP | 16708 | 19142 |
|  Kuwait Finance House KSCP | 96116 | 250122 |
|  Mobile Telecommunications Co. KSCP | 17706 | 29848 |
|  National Bank of Kuwait SAKP | 70589 | 245155 |
|  |  | 573135 |
|  **Luxembourg (0.0%)†** |  |  |
|  Reinet Investments SCA | 1110 | 32458 |
|  **Malaysia (0.8%)** |  |  |
|  AMMB Holdings Bhd. | 19972 | 26813 |
|  Axiata Group Bhd. | 25967 | 16536 |
|  Celcomdigi Bhd. | 39934 | 35109 |
|  CIMB Group Holdings Bhd. | 64788 | 112996 |
|  Gamuda Bhd. | 34628 | 45502 |
|  Hong Leong Bank Bhd. | 7591 | 37013 |
|  IHH Healthcare Bhd. | 21971 | 39416 |
|  IOI Corp. Bhd. | 19549 | 18348 |
|  Kuala Lumpur Kepong Bhd. | 3372 | 16505 |
|  Malayan Banking Bhd. | 46826 | 110264 |
|  Maxis Bhd. | 18034 | 15512 |
|  MISC Bhd. | 10465 | 18152 |
|  MR DIY Group M Bhd.(m) | 33669 | 13120 |
|  Nestle Malaysia Bhd. | 550 | 12575 |
|  Petronas Chemicals Group Bhd. | 23324 | 23443 |
|  Petronas Gas Bhd. | 9344 | 41075 |
|  Press Metal Aluminium Holdings Bhd. | 30517 | 42855 |
|  Public Bank Bhd. | 124755 | 128357 |
|  RHB Bank Bhd. | 14181 | 22239 |
|  SD Guthrie Bhd. | 17851 | 22141 |
|  Sunway Bhd. | 22652 | 30411 |
|  Telekom Malaysia Bhd. | 13795 | 23208 |
|  Tenaga Nasional Bhd. | 23207 | 72899 |
|  YTL Corp. Bhd. | 28680 | 18945 |
|  YTL Power International Bhd. | 21290 | 21298 |
|  |  | 964732 |
|  **Mexico (2.2%)** |  |  |
|  Alfa SAB de CV, Class A | 30582 | 24531 |
|  America Movil SAB de CV | 162970 | 171037 |
|  Arca Continental SAB de CV | 4520 | 47474 |
|  Cemex SAB de CV | 136177 | 122395 |
|  Coca-Cola Femsa SAB de CV | 4244 | 35213 |
|  Fibra Uno Administracion SA de CV (REIT) | 24588 | 36465 |
|  Fomento Economico Mexicano SAB de CV | 15752 | 155210 |
|  Gruma SAB de CV, Class B | 1820 | 33888 |
|  Grupo Aeroportuario del Centro Norte SAB de CV, Class B | 2528 | 32629 |
|  Grupo Aeroportuario del Pacifico SAB de CV, Class B | 3282 | 77298 |
|  Grupo Aeroportuario del Sureste SAB de CV, Class B | 1628 | 52581 |
|  Grupo Bimbo SAB de CV, Class A(x) | 12149 | 43160 |
|  Grupo Carso SAB de CV | 4856 | 35025 |
|  Grupo Comercial Chedraui SA de CV | 2734 | 21730 |
|  Grupo Financiero Banorte SAB de CV, Class O | 98161 | 985871 |
|  Grupo Financiero Inbursa SAB de CV, Class O | 19184 | 52953 |
|  Grupo Mexico SAB de CV | 26998 | 234931 |
|  Industrias Penoles SAB de CV\* | 1546 | 69074 |
|  Kimberly-Clark de Mexico SAB de CV, Class A | 13047 | 27471 |
|  Prologis Property Mexico SA de CV (REIT) | 6269 | 25674 |
|  Southern Copper Corp. | 847 | 102792 |
|  Wal-Mart de Mexico SAB de CV | 47712 | 147407 |
|  |  | 2534809 |
|  **Peru (0.2%)** |  |  |
|  Cia de Minas Buenaventura SAA (ADR) | 1110 | 27006 |
|  Credicorp Ltd. | 578 | 153910 |
|  |  | 180916 |
|  **Philippines (0.3%)** |  |  |
|  Ayala Corp. | 3097 | 25691 |
|  Ayala Land, Inc. | 63229 | 26454 |
|  Bank of the Philippine Islands | 16379 | 32364 |
|  BDO Unibank, Inc. | 18896 | 43149 |
|  International Container Terminal Services, Inc. | 8579 | 69517 |
|  Manila Electric Co. | 2433 | 22156 |
|  Metropolitan Bank & Trust Co. | 15777 | 18434 |
|  SM Investments Corp. | 2687 | 33934 |
|  SM Prime Holdings, Inc. | 98339 | 37933 |
|  |  | 309632 |
|  **Poland (0.7%)** |  |  |
|  Allegro.eu SA(m)\* | 5040 | 49358 |
|  Bank Millennium SA\* | 5191 | 20623 |
|  Bank Polska Kasa Opieki SA | 1598 | 76808 |
|  CCC SA\* | 461 | 23046 |
|  CD Projekt SA | 561 | 41751 |
|  Dino Polska SA(m)\* | 3960 | 47666 |
|  KGHM Polska Miedz SA\* | 1393 | 61321 |
|  LPP SA | 9 | 43778 |
|  mBank SA\* | 183 | 45314 |
|  ORLEN SA | 5334 | 126972 |
|  PGE Polska Grupa Energetyczna SA\* | 7628 | 22540 |
|  Powszechna Kasa Oszczednosci Bank Polski SA | 7831 | 151852 |
|  Powszechny Zaklad Ubezpieczen SA | 5218 | 78041 |
|  Santander Bank Polska SA | 306 | 39805 |
|  |  | 828875 |
|  **Qatar (0.5%)** |  |  |
|  Al Rayan Bank | 50968 | 33316 |
|  Barwa Real Estate Co. | 33504 | 24560 |
|  Commercial Bank PSQC (The) | 25888 | 32643 |
|  Industries Qatar QSC | 13744 | 47185 |
|  Mesaieed Petrochemical Holding Co. | 46863 | 16706 |
|  Ooredoo QPSC | 4608 | 17301 |
|  Qatar Electricity & Water Co. QSC | 5127 | 22375 |
|  Qatar Fuel QSC | 5099 | 21119 |
|  Qatar Gas Transport Co. Ltd. | 27866 | 35206 |
|  Qatar International Islamic Bank QSC | 8410 | 25061 |
|  Qatar Islamic Bank QPSC | 15864 | 104133 |
|  Qatar National Bank QPSC | 42063 | 214647 |
|  |  | 594252 |
|  **Romania (0.0%)†** |  |  |
|  NEPI Rockcastle NV\* | 6189 | 49559 |
|  **Russia (0.0%)** |  |  |
|  Gazprom PJSC(r)\* | 80604 |  |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EMERGING MARKETS EQUITY PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  GMK Norilskiy Nickel PAO (ADR)(r)\* | 4277 | $— |
|  LUKOIL PJSC(r)\* | 2799 |  |
|  Magnit PJSC(r)\* | 1475 |  |
|  Mobile TeleSystems PJSC(r)\* | 26722 |  |
|  Novatek PJSC (GDR)(m)(r)\* | 780 |  |
|  Novolipetsk Steel PJSC(r)\* | 12566 |  |
|  PhosAgro PJSC(m)(r)\* | 4859 |  |
|  PhosAgro PJSC (GDR)(r)\* | 31 |  |
|  Rosneft Oil Co. PJSC(r)\* | 8744 |  |
|  Sberbank of Russia PJSC(r)\* | 73260 |  |
|  Severstal PAO (GDR)(m)(r)\* | 1815 |  |
|  Surgutneftegas PAO (ADR)(r)\* | 7330 |  |
|  Tatneft PJSC (ADR)(r)\* | 1723 |  |
|  VTB Bank PJSC(r)\* | 22126 |  |
|  **Saudi Arabia (2.3%)** |  |  |
|  ACWA Power Co.\* | 1328 | 75816 |
|  Ades Holding Co. | 3523 | 15303 |
|  Al Rajhi Bank | 17049 | 487348 |
|  Alinma Bank | 10656 | 76151 |
|  Almarai Co. JSC | 4368 | 58586 |
|  Arab National Bank | 7829 | 51585 |
|  Arabian Internet & Communications Services Co. | 209 | 14345 |
|  Bank AlBilad | 6392 | 49156 |
|  Banque Saudi Fransi | 10652 | 50701 |
|  Bupa Arabia for Cooperative Insurance Co. | 718 | 31571 |
|  Co. for Cooperative Insurance (The) | 639 | 23173 |
|  Dallah Healthcare Co. | 379 | 15230 |
|  Dar Al Arkan Real Estate Development Co.\* | 4570 | 24299 |
|  Dr Sulaiman Al Habib Medical Services Group Co. | 761 | 54789 |
|  Elm Co. | 209 | 49907 |
|  Etihad Etisalat Co. | 3282 | 59117 |
|  Jabal Omar Development Co.\* | 4933 | 25492 |
|  Jarir Marketing Co. | 5115 | 19027 |
|  Makkah Construction & Development Co. | 836 | 19885 |
|  Mouwasat Medical Services Co. | 852 | 16732 |
|  Nahdi Medical Co. | 493 | 15644 |
|  Riyad Bank | 12787 | 92743 |
|  SABIC Agri-Nutrients Co. | 2029 | 64492 |
|  Sahara International Petrochemical Co. | 3126 | 17004 |
|  SAL Saudi Logistics Services | 259 | 12500 |
|  Saudi Arabian Mining Co.\* | 11240 | 191819 |
|  Saudi Arabian Oil Co.(m) | 51774 | 339895 |
|  Saudi Aramco Base Oil Co. | 440 | 10460 |
|  Saudi Awwal Bank | 8758 | 74918 |
|  Saudi Basic Industries Corp. | 7829 | 128493 |
|  Saudi Electricity Co. | 7249 | 29362 |
|  Saudi National Bank (The) | 25574 | 267183 |
|  Saudi Research & Media Group\* | 313 | 15232 |
|  Saudi Tadawul Group Holding Co. | 418 | 22961 |
|  Saudi Telecom Co. | 17397 | 204485 |
|  Yanbu National Petrochemical Co. | 2398 | 22342 |
|  |  | 2727746 |
|  **South Africa (3.2%)** |  |  |
|  Absa Group Ltd. | 7635 | 80059 |
|  Bid Corp. Ltd. | 3037 | 76013 |
|  Bidvest Group Ltd.(x) | 2950 | 36182 |
|  Capitec Bank Holdings Ltd. | 746 | 150064 |
|  Clicks Group Ltd. | 1829 | 37326 |
|  Discovery Ltd. | 3986 | 45468 |
|  E Media Holdings Ltd. | 1670 | 174 |
|  FirstRand Ltd. | 215345 | 968367 |
|  Gold Fields Ltd. | 7581 | 320048 |
|  Harmony Gold Mining Co. Ltd. | 4617 | 84175 |
|  Impala Platinum Holdings Ltd. | 7991 | 102051 |
|  MTN Group Ltd. | 13987 | 117436 |
|  Naspers Ltd. | 1322 | 478789 |
|  Nedbank Group Ltd. | 4331 | 53542 |
|  Ninety One Ltd. | 162537 | 427942 |
|  Old Mutual Ltd. | 35801 | 27675 |
|  OUTsurance Group Ltd. | 7360 | 30557 |
|  Pepkor Holdings Ltd.(m) | 29817 | 41972 |
|  Remgro Ltd. | 3981 | 38664 |
|  Sanlam Ltd. | 14076 | 68130 |
|  Sasol Ltd.\* | 4953 | 30819 |
|  Shoprite Holdings Ltd. | 4620 | 73302 |
|  Sibanye Stillwater Ltd.\* | 23959 | 68381 |
|  Standard Bank Group Ltd. | 11505 | 157479 |
|  Valterra Platinum Ltd. | 2247 | 160734 |
|  Vodacom Group Ltd. | 6142 | 47404 |
|  |  | 3722753 |
|  **South Korea (10.2%)** |  |  |
|  Alteogen, Inc.\* | 345 | 112619 |
|  Celltrion, Inc. | 1487 | 183775 |
|  CJ Corp. | 2963 | 387520 |
|  Cosmax, Inc. | 8411 | 1285884 |
|  Coway Co. Ltd. | 373 | 26186 |
|  DB Insurance Co. Ltd. | 311 | 30700 |
|  Doosan Bobcat, Inc.\* | 386 | 15269 |
|  Doosan Co. Ltd. | 63 | 24292 |
|  Doosan Enerbility Co. Ltd.\* | 4199 | 187646 |
|  Ecopro BM Co. Ltd.\* | 452 | 36404 |
|  Ecopro Co. Ltd. | 882 | 29829 |
|  Hana Financial Group, Inc. | 2776 | 172529 |
|  Hanjin Kal Corp. | 200 | 14326 |
|  Hankook Tire & Technology Co. Ltd. | 502 | 13721 |
|  Hanwha Aerospace Co. Ltd. | 293 | 231176 |
|  Hanwha Ocean Co. Ltd.\* | 1037 | 81523 |
|  Hanwha Systems Co. Ltd. | 647 | 27438 |
|  HD Hyundai Co. Ltd. | 320 | 35443 |
|  HD Hyundai Electric Co. Ltd. | 188 | 77984 |
|  HD Hyundai Heavy Industries Co. Ltd. | 189 | 69374 |
|  HD Korea Shipbuilding & Offshore Engineering Co. Ltd. | 372 | 108971 |
|  HLB, Inc.\* | 1119 | 30267 |
|  HMM Co. Ltd. | 2351 | 33597 |
|  HYBE Co. Ltd.\* | 224 | 42467 |
|  Hyosung Heavy Industries Corp. | 47 | 44888 |
|  Hyundai Glovis Co. Ltd. | 254 | 29943 |
|  Hyundai Mobis Co. Ltd. | 515 | 109567 |
|  Hyundai Motor Co. | 1196 | 183272 |
|  Hyundai Motor Co. (Preference)(q) | 246 | 29193 |
|  Hyundai Rotem Co. Ltd. | 660 | 103018 |
|  Industrial Bank of Korea | 1761 | 24425 |
|  Kakao Corp. | 2876 | 122169 |
|  KakaoBank Corp. | 1644 | 27829 |
|  KB Financial Group, Inc. | 3228 | 265731 |
|  Kia Corp. | 2302 | 165220 |
|  Korea Aerospace Industries Ltd. | 507 | 39026 |
|  Korea Electric Power Corp. | 2726 | 70042 |
|  Korea Investment Holdings Co. Ltd. | 282 | 29144 |
|  Korean Air Lines Co. Ltd. | 1982 | 32138 |
|  Krafton, Inc.\* | 251 | 52327 |
|  KT&G Corp. | 899 | 85604 |
|  LG Chem Ltd. | 450 | 89163 |
|  LG Corp. | 944 | 48443 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EMERGING MARKETS EQUITY PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  LG Display Co. Ltd.\* | 2065 | $21209 |
|  LG Electronics, Inc. | 1095 | 59001 |
|  LG Energy Solution Ltd.\* | 406 | 100556 |
|  LIG Nex1 Co. Ltd. | 112 | 40951 |
|  LS Electric Co. Ltd. | 130 | 26360 |
|  Meritz Financial Group, Inc. | 711 | 57516 |
|  Mirae Asset Securities Co. Ltd. | 1943 | 29566 |
|  NAVER Corp. | 1195 | 228686 |
|  Orion Corp. | 161 | 11888 |
|  POSCO Future M Co. Ltd.\* | 296 | 30274 |
|  POSCO Holdings, Inc. | 651 | 128061 |
|  Posco International Corp. | 468 | 16161 |
|  Samsung Biologics Co. Ltd.(m)\* | 162 | 115116 |
|  Samsung C&T Corp. | 707 | 93020 |
|  Samsung Electro-Mechanics Co. Ltd. | 486 | 67026 |
|  Samsung Electronics Co. Ltd. | 62342 | 3727945 |
|  Samsung Electronics Co. Ltd. (Preference)(q) | 6907 | 326877 |
|  Samsung Fire & Marine Insurance Co. Ltd. | 264 | 84955 |
|  Samsung Heavy Industries Co. Ltd.\* | 5732 | 89470 |
|  Samsung Life Insurance Co. Ltd. | 603 | 67303 |
|  Samsung SDI Co. Ltd. | 501 | 73201 |
|  Samsung SDS Co. Ltd. | 334 | 39088 |
|  Samyang Foods Co. Ltd. | 35 | 38142 |
|  Shinhan Financial Group Co. Ltd. | 3662 | 184790 |
|  SK Hynix, Inc. | 4684 | 1160108 |
|  SK Innovation Co. Ltd. | 598 | 42835 |
|  SK Square Co. Ltd.\* | 912 | 130978 |
|  SK, Inc. | 283 | 42358 |
|  S-Oil Corp.\* | 304 | 13520 |
|  Woori Financial Group, Inc. | 5542 | 102502 |
|  Yuhan Corp. | 494 | 41934 |
|  |  | 12001479 |
|  **Taiwan (21.7%)** |  |  |
|  Accton Technology Corp. | 4710 | 161492 |
|  Acer, Inc. | 32515 | 33019 |
|  Advantech Co. Ltd. | 4455 | 46629 |
|  Alchip Technologies Ltd. | 655 | 74466 |
|  ASE Technology Holding Co. Ltd. | 289021 | 1555202 |
|  Asia Cement Corp. | 15725 | 19683 |
|  Asia Vital Components Co. Ltd. | 2825 | 90929 |
|  Asustek Computer, Inc. | 6027 | 132690 |
|  Caliway Biopharmaceuticals Co. Ltd.\* | 8533 | 51935 |
|  Catcher Technology Co. Ltd. | 4883 | 29239 |
|  Cathay Financial Holding Co. Ltd. | 82317 | 177177 |
|  Chailease Holding Co. Ltd. | 16200 | 59266 |
|  Chang Hwa Commercial Bank Ltd. | 50801 | 32753 |
|  Cheng Shin Rubber Industry Co. Ltd. | 13228 | 16341 |
|  China Steel Corp. | 107475 | 68410 |
|  Chunghwa Telecom Co. Ltd. | 33116 | 145055 |
|  Compal Electronics, Inc. | 47199 | 50175 |
|  CTBC Financial Holding Co. Ltd. | 137717 | 193847 |
|  Delta Electronics, Inc. | 16557 | 463931 |
|  E Ink Holdings, Inc. | 6857 | 54108 |
|  E.Sun Financial Holding Co. Ltd. | 129522 | 141727 |
|  Eclat Textile Co. Ltd. | 1360 | 19567 |
|  Elite Material Co. Ltd. | 2543 | 102211 |
|  eMemory Technology, Inc. | 490 | 32395 |
|  Eva Airways Corp. | 20580 | 25727 |
|  Evergreen Marine Corp. Taiwan Ltd. | 9288 | 54549 |
|  Far EasTone Telecommunications Co. Ltd. | 16092 | 46674 |
|  Feng TAY Enterprise Co. Ltd. | 84120 | 339483 |
|  First Financial Holding Co. Ltd. | 105252 | 103083 |
|  Formosa Chemicals & Fibre Corp. | 33062 | 32272 |
|  Formosa Plastics Corp. | 32974 | 41707 |
|  Fortune Electric Co. Ltd. | 1342 | 25582 |
|  Fubon Financial Holding Co. Ltd. | 77809 | 225426 |
|  Gigabyte Technology Co. Ltd. | 4417 | 43332 |
|  Global Unichip Corp. | 752 | 33063 |
|  Globalwafers Co. Ltd. | 2457 | 37607 |
|  Hon Hai Precision Industry Co. Ltd. | 259535 | 1839345 |
|  Hotai Motor Co. Ltd. | 2895 | 56327 |
|  Hua Nan Financial Holdings Co. Ltd. | 80222 | 77911 |
|  Innolux Corp. | 70356 | 33241 |
|  International Games System Co. Ltd. | 2068 | 53400 |
|  Inventec Corp. | 19884 | 29848 |
|  Jentech Precision Industrial Co. Ltd. | 729 | 57645 |
|  KGI Financial Holding Co. Ltd. | 128076 | 62824 |
|  King Slide Works Co. Ltd. | 484 | 52246 |
|  Largan Precision Co. Ltd. | 926 | 71399 |
|  Lite-On Technology Corp. | 17592 | 99568 |
|  Lotes Co. Ltd. | 731 | 37056 |
|  MediaTek, Inc. | 49055 | 2116521 |
|  Mega Financial Holding Co. Ltd. | 107652 | 150115 |
|  Micro-Star International Co. Ltd. | 157015 | 597603 |
|  Nan Ya Plastics Corp. | 47296 | 61219 |
|  Novatek Microelectronics Corp. | 4946 | 69213 |
|  Pegatron Corp. | 15898 | 36931 |
|  PharmaEssentia Corp. | 1832 | 30956 |
|  President Chain Store Corp. | 5487 | 44648 |
|  Quanta Computer, Inc. | 23573 | 224298 |
|  Realtek Semiconductor Corp. | 4073 | 73501 |
|  Shanghai Commercial & Savings Bank Ltd. (The) | 34168 | 47141 |
|  SinoPac Financial Holdings Co. Ltd. | 104332 | 85580 |
|  Synnex Technology International Corp. | 9642 | 19994 |
|  Taiwan Business Bank | 62203 | 32144 |
|  Taiwan Cooperative Financial Holding Co. Ltd. | 91502 | 74005 |
|  Taiwan Mobile Co. Ltd. | 15213 | 54407 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. | 302525 | 12953446 |
|  TCC Group Holdings Co. Ltd. | 60564 | 47691 |
|  TS Financial Holding Co. Ltd. | 189731 | 112053 |
|  Unimicron Technology Corp. | 11840 | 58854 |
|  Uni-President Enterprises Corp. | 255419 | 657026 |
|  United Microelectronics Corp. | 101617 | 151869 |
|  Vanguard International Semiconductor Corp. | 8530 | 28547 |
|  Wan Hai Lines Ltd. | 6967 | 16984 |
|  Wistron Corp. | 22536 | 103888 |
|  Wiwynn Corp. | 970 | 105504 |
|  WPG Holdings Ltd. | 12093 | 26227 |
|  Yageo Corp. | 15160 | 84559 |
|  Yang Ming Marine Transport Corp. | 15133 | 26316 |
|  Yuanta Financial Holding Co. Ltd. | 91730 | 104888 |
|  Zhen Ding Technology Holding Ltd. | 5691 | 30996 |
|  |  | 25458686 |
|  **Thailand (1.7%)** |  |  |
|  Advanced Info Service PCL | 10424 | 93608 |
|  Airports of Thailand PCL | 37552 | 46643 |
|  Bangkok Dusit Medical Services |  |  |
|  PCL, Class F | 97473 | 61062 |
|  Bumrungrad Hospital PCL | 5224 | 28292 |
|  Central Pattana PCL | 17696 | 30581 |
|  Charoen Pokphand Foods PCL | 33954 | 23366 |
|  CP ALL PCL | 51162 | 74600 |
|  Delta Electronics Thailand PCL | 27324 | 133648 |
|  Gulf Development PCL\* | 40643 | 54559 |
|  Kasikornbank PCL | 106090 | 546738 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EMERGING MARKETS EQUITY PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  PTT Exploration & Production PCL | 150278 | $533312 |
|  PTT Global Chemical PCL(x) | 166200 | 127708 |
|  PTT PCL | 87053 | 89323 |
|  SCB X PCL | 7376 | 29021 |
|  Siam Cement PCL (The) | 6834 | 48505 |
|  True Corp. PCL\* | 90825 | 28869 |
|  |  | 1949835 |
|  **Turkiye (0.3%)** |  |  |
|  Akbank TAS | 25213 | 38022 |
|  Aselsan Elektronik Sanayi ve Ticaret A/S | 11792 | 60977 |
|  BIM Birlesik Magazalar A/S | 5030 | 65450 |
|  Eregli Demir ve Celik Fabrikalari TAS | 22628 | 16001 |
|  Haci Omer Sabanci Holding A/S | 8743 | 18253 |
|  KOC Holding A/S | 6608 | 27479 |
|  Turk Hava Yollari AO | 4461 | 33798 |
|  Turkcell Iletisim Hizmetleri A/S | 11528 | 27131 |
|  Turkiye Is Bankasi A/S, Class C | 70706 | 24063 |
|  Turkiye Petrol Rafinerileri A/S | 7175 | 32184 |
|  Yapi ve Kredi Bankasi A/S\* | 30053 | 24533 |
|  |  | 367891 |
|  **United Arab Emirates (1.0%)** |  |  |
|  Abu Dhabi Commercial Bank PJSC | 25127 | 99741 |
|  Abu Dhabi Islamic Bank PJSC | 12467 | 73925 |
|  Abu Dhabi National Oil Co. for Distribution PJSC | 26817 | 27744 |
|  ADNOC Drilling Co. PJSC | 29255 | 44842 |
|  Adnoc Gas plc | 52545 | 50642 |
|  Aldar Properties PJSC | 33061 | 85329 |
|  Americana Restaurants International plc - Foreign Co. | 10042 | 5386 |
|  Dubai Electricity & Water Authority PJSC | 51346 | 37883 |
|  Dubai Islamic Bank PJSC | 24854 | 64824 |
|  Emaar Development PJSC | 8665 | 31730 |
|  Emaar Properties PJSC | 56887 | 202114 |
|  Emirates NBD Bank PJSC | 16262 | 107585 |
|  Emirates Telecommunications Group Co. PJSC | 32256 | 165449 |
|  First Abu Dhabi Bank PJSC | 38158 | 162478 |
|  Multiply Group PJSC\* | 28440 | 22532 |
|  Salik Co. PJSC | 16046 | 26255 |
|  |  | 1208459 |
|  **United Kingdom (0.3%)** |  |  |
|  Anglogold Ashanti plc | 4104 | 288380 |
|  Metlen Energy & Metals plc\* | 987 | 54869 |
|  |  | 343249 |
|  **United States (0.1%)** |  |  |
|  JBS NV, Class A\* | 3103 | 46328 |
|  Legend Biotech Corp. (ADR)\* | 645 | 21033 |
|  |  | 67361 |
|  **Total Common Stocks (99.1%)**<br> *(Cost $91,316,146)* |  | 116448143 |
|  PREFERRED STOCKS: |  |  |
|  **India (0.0%)** |  |  |
|  TVS Motor Co. Ltd.,6.000%<br>*(Cost $—(r)* | 8320 |  |
|  | **Number of<br>Warrants** | **Value**<br>**(Note 1)** |
|  WARRANTS: |  |  |
|  **Malaysia (0.0%)†** |  |  |
|  YTL Corp. Bhd., expiring 6/2/28\*<br>*(Cost $—)* | 5736 | 1744 |
|  YTL Power International Bhd.,expiring 6/2/28\*<br>*(Cost $—)* | 4258 | 1781 |
|  **Total Warrants ($—)**<br> *(Cost $—)* |  | 3525 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (1.0%)** |  |  |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 20000 | 20000 |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 20000 | 20000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 505727 | 505727 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 583579 | 583813 |
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Investment Companies** |  | 1129540 |
|  **Total Short-Term Investments (1.0%)**<br> *(Cost $1,129,438)* |  | 1129540 |
|  **Total Investments in Securities (100.1%)**<br> *(Cost $92,445,584)* |  | 117581208 |
|  **Other Assets Less Liabilities (-0.1%)** |  | (97595) |
|  **Net Assets (100%)** |  | $117483613 |

---

*\** *Non-income producing.* 

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $6,214,229 or 5.3% of net assets.* 

*(q)* *Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $1,395,179. This was collateralized by $933,749 of various U.S. Government Treasury Securities, ranging from 0.000% – 4.875%, maturing 9/30/25 – 5/15/55 and by cash of $545,727 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*GDR — Global Depositary Receipt* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EMERGING MARKETS EQUITY PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Sector Weightings**<br> **as of September 30, 2025** | **Market**<br>**Value** | **% of<br>Net Assets** |
|  Information Technology | $30887314 | 26.3% |
|  Financials | 27688451 | 23.6 |
|  Consumer Discretionary | 14104858 | 12 |
|  Communication Services | 11461587 | 9.7 |
|  Materials | 7173172 | 6.1 |
|  Industrials | 7042647 | 6 |
|  Consumer Staples | 6305460 | 5.4 |
|  Energy | 4275560 | 3.6 |
|  Health Care | 3860638 | 3.3 |
|  Utilities | 1871590 | 1.6 |
|  Real Estate | 1780391 | 1.5 |
|  Investment Companies | 1129540 | 1 |
|  Cash and Other | (97595) | (0.1) |
|  |  | 100.0% |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  MSCI Emerging Markets E-Mini Index | 8 | 12/2025 | USD | 543880 | 6999 |
|  |  |  |  |  | 6999 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EMERGING MARKETS EQUITY PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Brazil | $6508972 | $— | $— | $6508972 |
|  Chile | 552207 | 367162 |  | 919369 |
|  China | 2525197 | 32853836 |  | 35379033 |
|  Colombia | 1589008 |  |  | 1589008 |
|  Czech Republic |  | 1203208 |  | 1203208 |
|  Egypt |  | 75602 |  | 75602 |
|  Greece |  | 422885 |  | 422885 |
|  Hong Kong |  | 130055 |  | 130055 |
|  Hungary |  | 249330 |  | 249330 |
|  India | 1516630 | 12478829 |  | 13995459 |
|  Indonesia |  | 2059395 |  | 2059395 |
|  Kuwait |  | 573135 |  | 573135 |
|  Luxembourg |  | 32458 |  | 32458 |
|  Malaysia |  | 964732 |  | 964732 |
|  Mexico | 2534809 |  |  | 2534809 |
|  Peru | 180916 |  |  | 180916 |
|  Philippines |  | 309632 |  | 309632 |
|  Poland |  | 828875 |  | 828875 |
|  Qatar |  | 594252 |  | 594252 |
|  Romania |  | 49559 |  | 49559 |
|  Russia |  |  | — (a) | — (a) |
|  Saudi Arabia |  | 2727746 |  | 2727746 |
|  South Africa |  | 3722753 |  | 3722753 |
|  South Korea |  | 12001479 |  | 12001479 |
|  Taiwan |  | 25458686 |  | 25458686 |
|  Thailand |  | 1949835 |  | 1949835 |
|  Turkiye |  | 367891 |  | 367891 |
|  United Arab Emirates |  | 1208459 |  | 1208459 |
|  United Kingdom |  | 343249 |  | 343249 |
|  United States | 67361 |  |  | 67361 |
|  **Futures** | 6999 |  |  | 6999 |
|  **Preferred Stocks** |  |  |  |  |
|  India |  |  | — (a) | — (a) |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 1129540 |  |  | 1129540 |
|  **Warrants** |  |  |  |  |
|  Malaysia |  | 3525 |  | 3525 |
|  **Total Assets** | $**16611639** | $**100976568** | $**—** | $**117588207** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**16611639** | $**100976568** | $**—** | $**117588207** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $34432218 |
|  Aggregate gross unrealized depreciation | (10211039) |
|  Net unrealized appreciation | $24221179 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $93367028 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EQUITY 500 INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (10.0%)** |  |  |
|  ***Diversified Telecommunication Services (0.7%)*** |  |  |
|  AT&T, Inc. | 1491052 | $42107308 |
|  Verizon Communications, Inc. | 879220 | 38641719 |
|  |  | 80749027 |
|  ***Entertainment (1.5%)*** |  |  |
|  Electronic Arts, Inc. | 46958 | 9471429 |
|  Live Nation Entertainment, Inc.\* | 32890 | 5374226 |
|  Netflix, Inc.\* | 88609 | 106235102 |
|  Take-Two Interactive Software, Inc.\* | 36159 | 9342039 |
|  TKO Group Holdings, Inc., Class A | 14387 | 2905599 |
|  Walt Disney Co. (The) | 374919 | 42928225 |
|  Warner Bros Discovery, Inc.\* | 516267 | 10082695 |
|  |  | 186339315 |
|  ***Interactive Media & Services (7.2%)*** |  |  |
|  Alphabet, Inc., Class A | 1213004 | 294881272 |
|  Alphabet, Inc., Class C | 973781 | 237164363 |
|  Match Group, Inc. | 50176 | 1772216 |
|  Meta Platforms, Inc., Class A | 451984 | 331928010 |
|  |  | 865745861 |
|  ***Media (0.4%)*** |  |  |
|  Charter Communications, Inc., Class A\* | 19368 | 5328234 |
|  Comcast Corp., Class A | 767957 | 24129209 |
|  Fox Corp., Class A | 43781 | 2760830 |
|  Fox Corp., Class B | 27510 | 1576048 |
|  Interpublic Group of Cos., Inc. (The) | 76376 | 2131654 |
|  News Corp., Class A | 78499 | 2410704 |
|  News Corp., Class B | 23195 | 801387 |
|  Omnicom Group, Inc. | 40397 | 3293568 |
|  Paramount Skydance Corp., Class B(x) | 64383 | 1218126 |
|  Trade Desk, Inc. (The), Class A\* | 92934 | 4554695 |
|  |  | 48204455 |
|  ***Wireless Telecommunication Services (0.2%)*** |  |  |
|  T-Mobile US, Inc. | 100913 | 24156554 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 1205195212 |
|  **Consumer Discretionary (10.5%)** |  |  |
|  ***Automobile Components (0.0%)†*** |  |  |
|  Aptiv plc\* | 45409 | 3915164 |
|  ***Automobiles (2.3%)*** |  |  |
|  Ford Motor Co. | 815135 | 9749015 |
|  General Motors Co. | 198534 | 12104618 |
|  Tesla, Inc.\* | 585157 | 260231021 |
|  |  | 282084654 |
|  ***Broadline Retail (3.8%)*** |  |  |
|  Amazon.com, Inc.\* | 2023773 | 444359838 |
|  eBay, Inc. | 95297 | 8667262 |
|  |  | 453027100 |
|  ***Distributors (0.1%)*** |  |  |
|  Genuine Parts Co. | 29004 | 4019954 |
|  LKQ Corp. | 53653 | 1638563 |
|  Pool Corp. | 6848 | 2123359 |
|  |  | 7781876 |
|  ***Hotels, Restaurants & Leisure (1.9%)*** |  |  |
|  Airbnb, Inc., Class A\* | 89475 | 10864054 |
|  Booking Holdings, Inc. | 6758 | 36488267 |
|  Carnival Corp.\* | 226395 | 6545079 |
|  Chipotle Mexican Grill, Inc.\* | 279611 | 10957955 |
|  Darden Restaurants, Inc. | 24405 | 4645736 |
|  Domino's Pizza, Inc. | 6513 | 2811727 |
|  DoorDash, Inc., Class A\* | 77191 | 20995180 |
|  Expedia Group, Inc. | 24646 | 5268083 |
|  Hilton Worldwide Holdings, Inc. | 49044 | 12723975 |
|  Las Vegas Sands Corp. | 64413 | 3464775 |
|  Marriott International, Inc., Class A | 46983 | 12236253 |
|  McDonald's Corp. | 148806 | 45220655 |
|  MGM Resorts International\* | 42569 | 1475442 |
|  Norwegian Cruise Line Holdings Ltd.\* | 94241 | 2321156 |
|  Royal Caribbean Cruises Ltd. | 52677 | 17045224 |
|  Starbucks Corp. | 237033 | 20052992 |
|  Wynn Resorts Ltd. | 17605 | 2258193 |
|  Yum! Brands, Inc. | 57874 | 8796848 |
|  |  | 224171594 |
|  ***Household Durables (0.3%)*** |  |  |
|  DR Horton, Inc. | 57815 | 9797908 |
|  Garmin Ltd. | 34119 | 8400780 |
|  Lennar Corp., Class A | 47461 | 5981984 |
|  Mohawk Industries, Inc.\* | 10883 | 1403036 |
|  NVR, Inc.\* | 598 | 4804727 |
|  PulteGroup, Inc. | 41142 | 5436093 |
|  |  | 35824528 |
|  ***Leisure Products (0.0%)†*** |  |  |
|  Hasbro, Inc. | 27780 | 2107113 |
|  ***Specialty Retail (1.8%)*** |  |  |
|  AutoZone, Inc.\* | 3488 | 14964357 |
|  Best Buy Co., Inc. | 40987 | 3099437 |
|  CarMax, Inc.\* | 31294 | 1404162 |
|  Home Depot, Inc. (The) | 207470 | 84064769 |
|  Lowe's Cos., Inc. | 116867 | 29369846 |
|  O'Reilly Automotive, Inc.\* | 176935 | 19075362 |
|  Ross Stores, Inc. | 68203 | 10393455 |
|  TJX Cos., Inc. (The) | 232637 | 33625352 |
|  Tractor Supply Co. | 110509 | 6284647 |
|  Ulta Beauty, Inc.\* | 9372 | 5124141 |
|  Williams-Sonoma, Inc. | 25648 | 5012902 |
|  |  | 212418430 |
|  ***Textiles, Apparel & Luxury Goods (0.3%)*** |  |  |
|  Deckers Outdoor Corp.\* | 30934 | 3135779 |
|  Lululemon Athletica, Inc.\* | 22742 | 4046484 |
|  NIKE, Inc., Class B | 247734 | 17274492 |
|  Ralph Lauren Corp. | 8069 | 2530116 |
|  Tapestry, Inc. | 43400 | 4913748 |
|  |  | 31900619 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 1253231078 |
|  **Consumer Staples (4.9%)** |  |  |
|  ***Beverages (1.0%)*** |  |  |
|  Brown-Forman Corp., Class B | 36720 | 994378 |
|  Coca-Cola Co. (The) | 807689 | 53565934 |
|  Constellation Brands, Inc., Class A | 29773 | 4009530 |
|  Keurig Dr Pepper, Inc. | 283271 | 7226243 |
|  Molson Coors Beverage Co., Class B | 35321 | 1598275 |
|  Monster Beverage Corp.\* | 148637 | 10004756 |
|  PepsiCo, Inc. | 285490 | 40094216 |
|  |  | 117493332 |
|  ***Consumer Staples Distribution & Retail (1.8%)*** |  |  |
|  Costco Wholesale Corp. | 92477 | 85599486 |
|  Dollar General Corp. | 45891 | 4742835 |
|  Dollar Tree, Inc.\* | 40472 | 3819343 |
|  Kroger Co. (The) | 126840 | 8550284 |
|  Sysco Corp. | 99571 | 8198676 |
|  Target Corp. | 94748 | 8498896 |
|  Walmart, Inc. | 915275 | 94328241 |
|  |  | 213737761 |
|  ***Food Products (0.5%)*** |  |  |
|  Archer-Daniels-Midland Co. | 100190 | 5985351 |
|  Bunge Global SA | 29203 | 2372744 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EQUITY 500 INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Campbell's Co. (The)(x) | 41031 | $1295759 |
|  Conagra Brands, Inc. | 99895 | 1829077 |
|  General Mills, Inc. | 111497 | 5621679 |
|  Hershey Co. (The) | 30885 | 5777039 |
|  Hormel Foods Corp. | 60774 | 1503549 |
|  J M Smucker Co. (The) | 22247 | 2416024 |
|  Kellanova | 56066 | 4598533 |
|  Kraft Heinz Co. (The) | 177705 | 4627438 |
|  Lamb Weston Holdings, Inc. | 29059 | 1687747 |
|  McCormick & Co., Inc. (Non- Voting) | 52766 | 3530573 |
|  Mondelez International, Inc., Class A | 269823 | 16855843 |
|  Tyson Foods, Inc., Class A | 59589 | 3235683 |
|  |  | 61337039 |
|  ***Household Products (0.9%)*** |  |  |
|  Church & Dwight Co., Inc. | 50799 | 4451516 |
|  Clorox Co. (The) | 25505 | 3144766 |
|  Colgate-Palmolive Co. | 168536 | 13472768 |
|  Kimberly-Clark Corp. | 69185 | 8602463 |
|  Procter & Gamble Co. (The) | 488449 | 75050189 |
|  |  | 104721702 |
|  ***Personal Care Products (0.1%)*** |  |  |
|  Estee Lauder Cos., Inc. (The), Class A | 48839 | 4303693 |
|  Kenvue, Inc. | 400179 | 6494905 |
|  |  | 10798598 |
|  ***Tobacco (0.6%)*** |  |  |
|  Altria Group, Inc. | 350303 | 23141016 |
|  Philip Morris International, Inc. | 324592 | 52648823 |
|  |  | 75789839 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 583878271 |
|  **Energy (2.9%)** |  |  |
|  ***Energy Equipment & Services (0.2%)*** |  |  |
|  Baker Hughes Co. | 205583 | 10016004 |
|  Halliburton Co. | 177791 | 4373658 |
|  Schlumberger NV | 311113 | 10692954 |
|  |  | 25082616 |
|  ***Oil, Gas & Consumable Fuels (2.7%)*** |  |  |
|  APA Corp.(x) | 74608 | 1811482 |
|  Chevron Corp. | 401322 | 62321293 |
|  ConocoPhillips | 260439 | 24634925 |
|  Coterra Energy, Inc. | 159135 | 3763543 |
|  Devon Energy Corp. | 132373 | 4640997 |
|  Diamondback Energy, Inc. | 39238 | 5614958 |
|  EOG Resources, Inc. | 113854 | 12765311 |
|  EQT Corp. | 130133 | 7083139 |
|  Expand Energy Corp. | 49660 | 5275878 |
|  Exxon Mobil Corp.# | 889004 | 100235201 |
|  Kinder Morgan, Inc. | 407760 | 11543686 |
|  Marathon Petroleum Corp. | 63396 | 12218945 |
|  Occidental Petroleum Corp. | 149856 | 7080696 |
|  ONEOK, Inc. | 131321 | 9582493 |
|  Phillips 66 | 84271 | 11462541 |
|  Targa Resources Corp. | 44873 | 7518023 |
|  Texas Pacific Land Corp. | 4026 | 3758835 |
|  Valero Energy Corp. | 64779 | 11029273 |
|  Williams Cos., Inc. (The) | 254649 | 16132014 |
|  |  | 318473233 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 343555849 |
|  **Financials (13.4%)** |  |  |
|  ***Banks (3.5%)*** |  |  |
|  Bank of America Corp. | 1420988 | 73308771 |
|  Citigroup, Inc. | 383878 | 38963617 |
|  Citizens Financial Group, Inc. | 89948 | 4781636 |
|  Fifth Third Bancorp | 138022 | 6148880 |
|  Huntington Bancshares, Inc. | 305677 | 5279042 |
|  JPMorgan Chase & Co. | 573399 | 180867246 |
|  KeyCorp | 194355 | 3632495 |
|  M&T Bank Corp. | 32586 | 6439645 |
|  PNC Financial Services Group, Inc. (The) | 82120 | 16500372 |
|  Regions Financial Corp. | 186071 | 4906692 |
|  Truist Financial Corp. | 268882 | 12293285 |
|  US Bancorp | 324508 | 15683472 |
|  Wells Fargo & Co. | 668005 | 55992179 |
|  |  | 424797332 |
|  ***Capital Markets (3.5%)*** |  |  |
|  Ameriprise Financial, Inc. | 19658 | 9656992 |
|  Bank of New York Mellon Corp. (The) | 147062 | 16023876 |
|  BlackRock, Inc. | 30031 | 35012242 |
|  Blackstone, Inc. | 153704 | 26260328 |
|  Cboe Global Markets, Inc. | 21810 | 5348903 |
|  Charles Schwab Corp. (The) | 355812 | 33969372 |
|  CME Group, Inc. | 75148 | 20304238 |
|  Coinbase Global, Inc., Class A\* | 47160 | 15916028 |
|  FactSet Research Systems, Inc. | 7884 | 2258687 |
|  Franklin Resources, Inc. | 63877 | 1477475 |
|  Goldman Sachs Group, Inc. (The) | 63126 | 50270390 |
|  Interactive Brokers Group, Inc., Class A | 92846 | 6388733 |
|  Intercontinental Exchange, Inc. | 119366 | 20110784 |
|  Invesco Ltd. | 92996 | 2133328 |
|  KKR & Co., Inc. | 143056 | 18590127 |
|  Moody's Corp. | 32172 | 15329315 |
|  Morgan Stanley | 252989 | 40215131 |
|  MSCI, Inc. | 16133 | 9154026 |
|  Nasdaq, Inc. | 94525 | 8360736 |
|  Northern Trust Corp. | 39877 | 5367444 |
|  Raymond James Financial, Inc. | 37004 | 6386890 |
|  Robinhood Markets, Inc., Class A\* | 161393 | 23108250 |
|  S&P Global, Inc. | 65165 | 31716457 |
|  State Street Corp. | 59158 | 6862920 |
| T. Rowe Price Group, Inc. | 45817 | 4702657 |
|  |  | 414925329 |
|  ***Consumer Finance (0.6%)*** |  |  |
|  American Express Co. | 113186 | 37595862 |
|  Capital One Financial Corp. | 133353 | 28348181 |
|  Synchrony Financial | 77584 | 5512343 |
|  |  | 71456386 |
|  ***Financial Services (4.0%)*** |  |  |
|  Apollo Global Management, Inc. | 95954 | 12787790 |
|  Berkshire Hathaway, Inc., Class B\* | 382384 | 192239732 |
|  Block, Inc., Class A\* | 114601 | 8282214 |
|  Corpay, Inc.\* | 14725 | 4241684 |
|  Fidelity National Information Services, Inc. | 108930 | 7182844 |
|  Fiserv, Inc.\* | 113354 | 14614731 |
|  Global Payments, Inc. | 50590 | 4203017 |
|  Jack Henry & Associates, Inc. | 15184 | 2261353 |
|  Mastercard, Inc., Class A | 172138 | 97913816 |
|  PayPal Holdings, Inc.\* | 199222 | 13359827 |
|  Visa, Inc., Class A | 354222 | 120924307 |
|  |  | 478011315 |
|  ***Insurance (1.8%)*** |  |  |
|  Aflac, Inc. | 100374 | 11211776 |
|  Allstate Corp. (The) | 54948 | 11794588 |
|  American International Group, Inc. | 115525 | 9073333 |
|  Aon plc, Class A | 44964 | 16033263 |
|  Arch Capital Group Ltd. | 77508 | 7032301 |
|  Arthur J Gallagher & Co. | 53459 | 16558391 |
|  Assurant, Inc. | 10522 | 2279065 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EQUITY 500 INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Brown & Brown, Inc. | 61098 | $5730381 |
|  Chubb Ltd. | 77318 | 21823005 |
|  Cincinnati Financial Corp. | 32427 | 5126709 |
|  Erie Indemnity Co., Class A | 5297 | 1685294 |
|  Everest Group Ltd. | 8746 | 3063112 |
|  Globe Life, Inc. | 16892 | 2415049 |
|  Hartford Insurance Group, Inc. (The) | 58632 | 7820922 |
|  Loews Corp. | 35468 | 3560633 |
|  Marsh & McLennan Cos., Inc. | 102517 | 20660251 |
|  MetLife, Inc. | 116488 | 9595117 |
|  Principal Financial Group, Inc. | 42272 | 3504772 |
|  Progressive Corp. (The) | 122240 | 30187168 |
|  Prudential Financial, Inc. | 73402 | 7614723 |
|  Travelers Cos., Inc. (The) | 46947 | 13108541 |
|  W.R. Berkley Corp. | 62406 | 4781548 |
|  Willis Towers Watson plc | 20341 | 7026798 |
|  |  | 221686740 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 1610877102 |
|  **Health Care (8.8%)** |  |  |
|  ***Biotechnology (1.6%)*** |  |  |
|  AbbVie, Inc. | 368376 | 85293779 |
|  Amgen, Inc. | 112263 | 31680618 |
|  Biogen, Inc.\* | 30573 | 4282666 |
|  Gilead Sciences, Inc. | 258742 | 28720362 |
|  Incyte Corp.\* | 34205 | 2900926 |
|  Moderna, Inc.\* | 72209 | 1865158 |
|  Regeneron Pharmaceuticals, Inc. | 21243 | 11944302 |
|  Vertex Pharmaceuticals, Inc.\* | 53465 | 20939033 |
|  |  | 187626844 |
|  ***Health Care Equipment & Supplies (2.0%)*** |  |  |
|  Abbott Laboratories | 362933 | 48611246 |
|  Align Technology, Inc.\* | 14057 | 1760217 |
|  Baxter International, Inc. | 107104 | 2438758 |
|  Becton Dickinson & Co. | 59770 | 11187151 |
|  Boston Scientific Corp.\* | 308986 | 30166303 |
|  Cooper Cos., Inc. (The)\* | 41604 | 2852370 |
|  Dexcom, Inc.\* | 81775 | 5502640 |
|  Edwards Lifesciences Corp.\* | 122426 | 9521070 |
|  GE HealthCare Technologies, Inc. | 95206 | 7149971 |
|  Hologic, Inc.\* | 46380 | 3130186 |
|  IDEXX Laboratories, Inc.\* | 16683 | 10658602 |
|  Insulet Corp.\* | 14679 | 4531848 |
|  Intuitive Surgical, Inc.\* | 74752 | 33431337 |
|  Medtronic plc | 267179 | 25446128 |
|  ResMed, Inc. | 30532 | 8357524 |
|  Solventum Corp.\* | 30733 | 2243509 |
|  STERIS plc | 20538 | 5081923 |
|  Stryker Corp. | 71749 | 26523453 |
|  Zimmer Biomet Holdings, Inc. | 41308 | 4068838 |
|  |  | 242663074 |
|  ***Health Care Providers & Services (1.7%)*** |  |  |
|  Cardinal Health, Inc. | 49795 | 7815823 |
|  Cencora, Inc. | 40429 | 12635275 |
|  Centene Corp.\* | 97294 | 3471450 |
|  Cigna Group (The) | 55662 | 16044571 |
|  CVS Health Corp. | 264481 | 19939223 |
|  DaVita, Inc.\* | 7455 | 990546 |
|  Elevance Health, Inc. | 46956 | 15172423 |
|  HCA Healthcare, Inc. | 34156 | 14557287 |
|  Henry Schein, Inc.\* | 21495 | 1426623 |
|  Humana, Inc. | 25080 | 6525064 |
|  Labcorp Holdings, Inc. | 17329 | 4974463 |
|  McKesson Corp. | 25937 | 20037370 |
|  Molina Healthcare, Inc.\* | 11302 | 2162751 |
|  Quest Diagnostics, Inc. | 23318 | 4443944 |
|  UnitedHealth Group, Inc. | 188858 | 65212667 |
|  Universal Health Services, Inc., Class B | 11758 | 2403806 |
|  |  | 197813286 |
|  ***Life Sciences Tools & Services (0.8%)*** |  |  |
|  Agilent Technologies, Inc. | 59235 | 7602812 |
|  Bio-Techne Corp. | 32690 | 1818545 |
|  Charles River Laboratories International, Inc.\* | 10262 | 1605592 |
|  Danaher Corp. | 132892 | 26347168 |
|  IQVIA Holdings, Inc.\* | 35450 | 6733373 |
|  Mettler-Toledo International, Inc.\* | 4295 | 5272585 |
|  Revvity, Inc. | 24204 | 2121481 |
|  Thermo Fisher Scientific, Inc. | 78742 | 38191445 |
|  Waters Corp.\* | 12412 | 3721242 |
|  West Pharmaceutical Services, Inc. | 14995 | 3933638 |
|  |  | 97347881 |
|  ***Pharmaceuticals (2.7%)*** |  |  |
|  Bristol-Myers Squibb Co. | 424444 | 19142425 |
|  Eli Lilly & Co. | 165784 | 126493192 |
|  Johnson & Johnson | 502205 | 93118851 |
|  Merck & Co., Inc. | 520856 | 43715444 |
|  Pfizer, Inc. | 1185593 | 30208910 |
|  Viatris, Inc. | 243116 | 2406848 |
|  Zoetis, Inc. | 92416 | 13522309 |
|  |  | 328607979 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 1054059064 |
|  **Industrials (8.2%)** |  |  |
|  ***Aerospace & Defense (2.2%)*** |  |  |
|  Axon Enterprise, Inc.\* | 16370 | 11747767 |
|  Boeing Co. (The)\* | 157680 | 34032074 |
|  GE Aerospace | 221131 | 66520627 |
|  General Dynamics Corp. | 52648 | 17952968 |
|  Howmet Aerospace, Inc. | 84063 | 16495682 |
|  Huntington Ingalls Industries, Inc. | 8183 | 2355968 |
|  L3Harris Technologies, Inc. | 39014 | 11915266 |
|  Lockheed Martin Corp. | 42842 | 21387155 |
|  Northrop Grumman Corp. | 28066 | 17101175 |
|  RTX Corp. | 279123 | 46705652 |
|  Textron, Inc. | 37161 | 3139733 |
|  TransDigm Group, Inc. | 11751 | 15488053 |
|  |  | 264842120 |
|  ***Air Freight & Logistics (0.2%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 24625 | 3260350 |
|  Expeditors International of Washington, Inc.(x) | 28301 | 3469420 |
|  FedEx Corp. | 45256 | 10671817 |
|  United Parcel Service, Inc., Class B | 153485 | 12820602 |
|  |  | 30222189 |
|  ***Building Products (0.5%)*** |  |  |
|  A.O. Smith Corp. | 23826 | 1749067 |
|  Allegion plc | 17901 | 3174742 |
|  Builders FirstSource, Inc.(x)\* | 23052 | 2795055 |
|  Carrier Global Corp. | 166814 | 9958796 |
|  Johnson Controls International plc | 135954 | 14948142 |
|  Lennox International, Inc. | 6665 | 3528184 |
|  Masco Corp. | 43658 | 3073087 |
|  Trane Technologies plc | 46400 | 19578944 |
|  |  | 58806017 |
|  ***Commercial Services & Supplies (0.5%)*** |  |  |
|  Cintas Corp. | 71427 | 14661106 |
|  Copart, Inc.\* | 185502 | 8342025 |
|  Republic Services, Inc. | 42319 | 9711364 |
|  Rollins, Inc. | 58615 | 3443045 |
|  Veralto Corp. | 51748 | 5516855 |
|  Waste Management, Inc. | 77281 | 17065963 |
|  |  | 58740358 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EQUITY 500 INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***Construction & Engineering (0.2%)*** |  |  |
|  EMCOR Group, Inc. | 9335 | $6063456 |
|  Quanta Services, Inc. | 31072 | 12876858 |
|  |  | 18940314 |
|  ***Electrical Equipment (0.9%)*** |  |  |
|  AMETEK, Inc. | 48160 | 9054080 |
|  Eaton Corp. plc | 81180 | 30381615 |
|  Emerson Electric Co. | 117359 | 15395154 |
|  GE Vernova, Inc. | 56766 | 34905414 |
|  Generac Holdings, Inc.\* | 12236 | 2048306 |
|  Hubbell, Inc., Class B | 11081 | 4768265 |
|  Rockwell Automation, Inc. | 23446 | 8195080 |
|  |  | 104747914 |
|  ***Ground Transportation (0.9%)*** |  |  |
|  CSX Corp. | 388753 | 13804619 |
|  JB Hunt Transport Services, Inc. | 15946 | 2139475 |
|  Norfolk Southern Corp. | 46784 | 14054381 |
|  Old Dominion Freight Line, Inc. | 38567 | 5429462 |
|  Uber Technologies, Inc.\* | 434867 | 42603920 |
|  Union Pacific Corp. | 123665 | 29230696 |
|  |  | 107262553 |
|  ***Industrial Conglomerates (0.4%)*** |  |  |
|  3M Co. | 111068 | 17235532 |
|  Honeywell International, Inc. | 132393 | 27868727 |
|  |  | 45104259 |
|  ***Machinery (1.5%)*** |  |  |
|  Caterpillar, Inc. | 97691 | 46613261 |
|  Cummins, Inc. | 28732 | 12135535 |
|  Deere & Co. | 52522 | 24016210 |
|  Dover Corp. | 28596 | 4770671 |
|  Fortive Corp. | 70552 | 3456342 |
|  IDEX Corp. | 15699 | 2555169 |
|  Illinois Tool Works, Inc. | 55315 | 14423939 |
|  Ingersoll Rand, Inc. | 75421 | 6231283 |
|  Nordson Corp. | 11194 | 2540478 |
|  Otis Worldwide Corp. | 81842 | 7482814 |
|  PACCAR, Inc. | 109498 | 10765843 |
|  Parker-Hannifin Corp. | 26645 | 20200907 |
|  Pentair plc | 34184 | 3786220 |
|  Snap-on, Inc. | 10877 | 3769207 |
|  Stanley Black & Decker, Inc. | 32278 | 2399224 |
|  Westinghouse Air Brake Technologies Corp. | 35648 | 7146354 |
|  Xylem, Inc. | 50758 | 7486805 |
|  |  | 179780262 |
|  ***Passenger Airlines (0.1%)*** |  |  |
|  Delta Air Lines, Inc. | 135256 | 7675778 |
|  Southwest Airlines Co. | 109516 | 3494656 |
|  United Airlines Holdings, Inc.\* | 67507 | 6514425 |
|  |  | 17684859 |
|  ***Professional Services (0.5%)*** |  |  |
|  Automatic Data Processing, Inc. | 84463 | 24789891 |
|  Broadridge Financial Solutions, Inc. | 24425 | 5817302 |
|  Dayforce, Inc.\* | 33300 | 2294037 |
|  Equifax, Inc. | 25815 | 6622322 |
|  Jacobs Solutions, Inc. | 24927 | 3735560 |
|  Leidos Holdings, Inc. | 26753 | 5055247 |
|  Paychex, Inc. | 67609 | 8570117 |
|  Paycom Software, Inc. | 10441 | 2173190 |
|  Verisk Analytics, Inc. | 29134 | 7327492 |
|  |  | 66385158 |
|  ***Trading Companies & Distributors (0.3%)*** |  |  |
|  Fastenal Co. | 239314 | 11735959 |
|  United Rentals, Inc. | 13417 | 12808673 |
|  W.W. Grainger, Inc. | 9176 | 8744361 |
|  |  | 33288993 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 985804996 |
|  **Information Technology (34.5%)** |  |  |
|  ***Communications Equipment (0.9%)*** |  |  |
|  Arista Networks, Inc.\* | 214914 | 31315119 |
|  Cisco Systems, Inc. | 825768 | 56499046 |
|  F5, Inc.\* | 11979 | 3871493 |
|  Motorola Solutions, Inc. | 34741 | 15886712 |
|  |  | 107572370 |
|  ***Electronic Equipment, Instruments & Components (0.7%)*** |  |  |
|  Amphenol Corp., Class A | 254595 | 31506131 |
|  CDW Corp. | 27330 | 4353122 |
|  Corning, Inc. | 162552 | 13334141 |
|  Jabil, Inc. | 22379 | 4860047 |
|  Keysight Technologies, Inc.\* | 35889 | 6277704 |
|  TE Connectivity plc | 61616 | 13526561 |
|  Teledyne Technologies, Inc.\* | 9777 | 5729713 |
|  Trimble, Inc.\* | 49623 | 4051718 |
|  Zebra Technologies Corp., Class A\* | 10603 | 3150787 |
|  |  | 86789924 |
|  ***IT Services (0.9%)*** |  |  |
|  Accenture plc, Class A | 129882 | 32028901 |
|  Akamai Technologies, Inc.\* | 29900 | 2265224 |
|  Cognizant Technology Solutions Corp., Class A | 101844 | 6830677 |
|  EPAM Systems, Inc.\* | 11614 | 1751275 |
|  Gartner, Inc.\* | 15793 | 4151506 |
|  GoDaddy, Inc., Class A\* | 28870 | 3950282 |
|  International Business Machines Corp. | 194247 | 54808734 |
|  VeriSign, Inc. | 17530 | 4900862 |
|  |  | 110687461 |
|  ***Semiconductors & Semiconductor Equipment (13.7%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 338408 | 54751030 |
|  Analog Devices, Inc. | 103481 | 25425282 |
|  Applied Materials, Inc. | 167343 | 34261806 |
|  Broadcom, Inc. | 979127 | 323023789 |
|  First Solar, Inc.\* | 22364 | 4931933 |
|  Intel Corp.\* | 912724 | 30621890 |
|  KLA Corp. | 27517 | 29679836 |
|  Lam Research Corp. | 263917 | 35338486 |
|  Microchip Technology, Inc. | 112538 | 7227190 |
|  Micron Technology, Inc. | 233368 | 39047134 |
|  Monolithic Power Systems, Inc. | 9987 | 9194432 |
|  NVIDIA Corp. | 5088070 | 949332101 |
|  NXP Semiconductors NV | 52573 | 11972449 |
|  ON Semiconductor Corp.\* | 85282 | 4205255 |
|  QUALCOMM, Inc. | 224902 | 37414697 |
|  Skyworks Solutions, Inc. | 30951 | 2382608 |
|  Teradyne, Inc. | 33171 | 4565657 |
|  Texas Instruments, Inc. | 189580 | 34831533 |
|  |  | 1638207108 |
|  ***Software (11.3%)*** |  |  |
|  Adobe, Inc.\* | 88457 | 31203207 |
|  AppLovin Corp., Class A\* | 56452 | 40563020 |
|  Autodesk, Inc.\* | 44625 | 14176024 |
|  Cadence Design Systems, Inc.\* | 56822 | 19959296 |
|  Crowdstrike Holdings, Inc., Class A\* | 51975 | 25487500 |
|  Datadog, Inc., Class A\* | 67411 | 9599326 |
|  Fair Isaac Corp.\* | 5005 | 7490133 |
|  Fortinet, Inc.\* | 135819 | 11419661 |
|  Gen Digital, Inc. | 116867 | 3317854 |
|  Intuit, Inc. | 58168 | 39723509 |
|  Microsoft Corp. | 1550019 | 802832341 |
|  Oracle Corp. | 345574 | 97189232 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EQUITY 500 INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Palantir Technologies, Inc., Class A\* | 474246 | $86511955 |
|  Palo Alto Networks, Inc.\* | 139283 | 28360804 |
|  PTC, Inc.\* | 24980 | 5071440 |
|  Roper Technologies, Inc. | 22440 | 11190604 |
|  Salesforce, Inc. | 199352 | 47246424 |
|  ServiceNow, Inc.\* | 43374 | 39916225 |
|  Synopsys, Inc.\* | 38587 | 19038440 |
|  Tyler Technologies, Inc.\* | 9021 | 4719426 |
|  Workday, Inc., Class A\* | 45042 | 10842961 |
|  |  | 1355859382 |
|  ***Technology Hardware, Storage & Peripherals (7.0%)*** |  |  |
|  Apple, Inc. | 3094629 | 787985382 |
|  Dell Technologies, Inc., Class C | 63225 | 8963408 |
|  Hewlett Packard Enterprise Co. | 273633 | 6720426 |
|  HP, Inc. | 195864 | 5333377 |
|  NetApp, Inc. | 41726 | 4942862 |
|  Seagate Technology Holdings plc | 44349 | 10469025 |
|  Super Micro Computer, Inc.(x)\* | 104540 | 5011648 |
|  Western Digital Corp. | 72343 | 8685501 |
|  |  | 838111629 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 4137227874 |
|  **Materials (1.8%)** |  |  |
|  ***Chemicals (1.1%)*** |  |  |
|  Air Products and Chemicals, Inc. | 46409 | 12656663 |
|  Albemarle Corp. | 24540 | 1989703 |
|  CF Industries Holdings, Inc. | 33776 | 3029707 |
|  Corteva, Inc. | 141611 | 9577152 |
|  Dow, Inc. | 147813 | 3389352 |
|  DuPont de Nemours, Inc. | 87314 | 6801761 |
|  Eastman Chemical Co. | 23946 | 1509795 |
|  Ecolab, Inc. | 53229 | 14577294 |
|  International Flavors & Fragrances, Inc. | 53443 | 3288882 |
|  Linde plc | 97781 | 46445975 |
|  LyondellBasell Industries NV, Class A | 53658 | 2631388 |
|  Mosaic Co. (The) | 66182 | 2295192 |
|  PPG Industries, Inc. | 47065 | 4947002 |
|  Sherwin-Williams Co. (The) | 48353 | 16742710 |
|  |  | 129882576 |
|  ***Construction Materials (0.1%)*** |  |  |
|  Martin Marietta Materials, Inc. | 12575 | 7925771 |
|  Vulcan Materials Co. | 27551 | 8475239 |
|  |  | 16401010 |
|  ***Containers & Packaging (0.2%)*** |  |  |
|  Amcor plc | 480727 | 3932347 |
|  Avery Dennison Corp. | 16261 | 2637046 |
|  Ball Corp. | 56750 | 2861335 |
|  International Paper Co. | 110099 | 5108594 |
|  Packaging Corp. of America | 18636 | 4061343 |
|  Smurfit WestRock plc | 108877 | 4634894 |
|  |  | 23235559 |
|  ***Metals & Mining (0.4%)*** |  |  |
|  Freeport-McMoRan, Inc. | 299398 | 11742390 |
|  Newmont Corp. | 229057 | 19311796 |
|  Nucor Corp. | 47864 | 6482221 |
|  Steel Dynamics, Inc. | 28854 | 4023113 |
|  |  | 41559520 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 211078665 |
|  **Real Estate (1.9%)** |  |  |
|  ***Health Care REITs (0.3%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) | 32460 | 2705216 |
|  Healthpeak Properties, Inc. (REIT) | 145708 | 2790308 |
|  Ventas, Inc. (REIT) | 94770 | 6632952 |
|  Welltower, Inc. (REIT) | 139469 | 24845008 |
|  |  | 36973484 |
|  ***Hotel & Resort REITs (0.0%)†*** |  |  |
|  Host Hotels & Resorts, Inc. (REIT) | 133335 | 2269362 |
|  ***Industrial REITs (0.2%)*** |  |  |
|  Prologis, Inc. (REIT) | 193527 | 22162712 |
|  ***Office REITs (0.0%)†*** |  |  |
|  BXP, Inc. (REIT)(x) | 30714 | 2283279 |
|  ***Real Estate Management & Development (0.1%)*** |  |  |
|  CBRE Group, Inc., Class A\* | 61119 | 9629909 |
|  CoStar Group, Inc.\* | 88343 | 7453499 |
|  |  | 17083408 |
|  ***Residential REITs (0.2%)*** |  |  |
|  AvalonBay Communities, Inc. (REIT) | 29654 | 5728263 |
|  Camden Property Trust (REIT) | 22282 | 2379272 |
|  Equity Residential (REIT) | 72469 | 4690918 |
|  Essex Property Trust, Inc. (REIT) | 13430 | 3594674 |
|  Invitation Homes, Inc. (REIT) | 117603 | 3449296 |
|  Mid-America Apartment Communities, Inc. (REIT) | 24412 | 3411089 |
|  UDR, Inc. (REIT) | 62876 | 2342760 |
|  |  | 25596272 |
|  ***Retail REITs (0.3%)*** |  |  |
|  Federal Realty Investment |  |  |
|  Trust (REIT) | 16370 | 1658444 |
|  Kimco Realty Corp. (REIT) | 141215 | 3085548 |
|  Realty Income Corp. (REIT) | 190658 | 11590100 |
|  Regency Centers Corp. (REIT) | 34073 | 2483922 |
|  Simon Property Group, Inc. (REIT) | 68081 | 12776761 |
|  |  | 31594775 |
|  ***Specialized REITs (0.8%)*** |  |  |
|  American Tower Corp. (REIT) | 97643 | 18778702 |
|  Crown Castle, Inc. (REIT) | 90807 | 8761967 |
|  Digital Realty Trust, Inc. (REIT) | 66851 | 11557201 |
|  Equinix, Inc. (REIT) | 20407 | 15983579 |
|  Extra Space Storage, Inc. (REIT) | 44261 | 6238145 |
|  Iron Mountain, Inc. (REIT) | 61588 | 6278281 |
|  Public Storage (REIT) | 32928 | 9511253 |
|  SBA Communications Corp. (REIT) | 22391 | 4329300 |
|  VICI Properties, Inc. (REIT), Class A | 222367 | 7251388 |
|  Weyerhaeuser Co. (REIT) | 150455 | 3729779 |
|  |  | 92419595 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 230382887 |
|  **Utilities (2.3%)** |  |  |
|  ***Electric Utilities (1.5%)*** |  |  |
|  Alliant Energy Corp. | 53585 | 3612165 |
|  American Electric Power Co., Inc. | 111519 | 12545888 |
|  Constellation Energy Corp. | 65145 | 21437265 |
|  Duke Energy Corp. | 162156 | 20066805 |
|  Edison International | 80248 | 4436109 |
|  Entergy Corp. | 93088 | 8674871 |
|  Evergy, Inc. | 47994 | 3648504 |
|  Eversource Energy | 76476 | 5440503 |
|  Exelon Corp. | 210610 | 9479556 |
|  FirstEnergy Corp. | 108364 | 4965239 |
|  NextEra Energy, Inc. | 429419 | 32416840 |
|  NRG Energy, Inc. | 40336 | 6532415 |
|  PG&E Corp. | 458309 | 6911300 |
|  Pinnacle West Capital Corp. | 24904 | 2232893 |
|  PPL Corp. | 154209 | 5730406 |
|  Southern Co. (The) | 229390 | 21739290 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EQUITY 500 INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Xcel Energy, Inc. | 123328 | $9946403 |
|  |  | 179816452 |
|  ***Gas Utilities (0.1%)*** |  |  |
|  Atmos Energy Corp. | 33474 | 5715685 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  AES Corp. (The) | 148482 | 1954023 |
|  Vistra Corp. | 66486 | 13025937 |
|  |  | 14979960 |
|  ***Multi-Utilities (0.6%)*** |  |  |
|  Ameren Corp. | 56388 | 5885779 |
|  CenterPoint Energy, Inc. | 136140 | 5282232 |
|  CMS Energy Corp. | 62419 | 4572816 |
|  Consolidated Edison, Inc. | 75206 | 7559707 |
|  Dominion Energy, Inc. | 177964 | 10886058 |
|  DTE Energy Co. | 43288 | 6122222 |
|  NiSource, Inc. | 98186 | 4251454 |
|  Public Service Enterprise Group, Inc. | 104072 | 8685849 |
|  Sempra | 136058 | 12242499 |
|  WEC Energy Group, Inc. | 67118 | 7691052 |
|  |  | 73179668 |
|  ***Water Utilities (0.0%)†*** |  |  |
|  American Water Works Co., Inc. | 40683 | 5662667 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 279354432 |
|  **Total Common Stocks (99.2%)**<br> *(Cost $2,620,798,370)* |  | 11894645430 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.0%)†** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 2316527 | 2316527 |
|  **Total Short-Term Investments (0.0%)†**<br> *(Cost $2,316,527)* |  | 2316527 |
|  **Total Investments in Securities (99.2%)**<br> *(Cost $2,623,114,897)* |  | 11896961957 |
|  **Other Assets Less Liabilities (0.8%)** |  | 96153569 |
|  **Net Assets (100%)** |  | $11993115526 |

---

*\** *Non-income producing.* 

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

*#* *All, or a portion of security held by broker as collateral for financial futures contracts, with a total collateral value of $28,976,750.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $9,851,064. This was collateralized by $7,632,826 of various U.S. Government Treasury Securities, ranging from 0.000% – 4.875%,maturing 10/23/25 – 2/15/53 and by cash of $2,316,527 which was subsequently invested in investment companies.* 

*Glossary:* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/EQUITY 500 INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  S&P 500 E-Mini Index | 289 | 12/2025 | USD | 97374938 | 813707 |
|  |  |  |  |  | 813707 |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $1205195212 | $— | $— | $1205195212 |
|  Consumer Discretionary | 1253231078 |  |  | 1253231078 |
|  Consumer Staples | 583878271 |  |  | 583878271 |
|  Energy | 343555849 |  |  | 343555849 |
|  Financials | 1610877102 |  |  | 1610877102 |
|  Health Care | 1054059064 |  |  | 1054059064 |
|  Industrials | 985804996 |  |  | 985804996 |
|  Information Technology | 4137227874 |  |  | 4137227874 |
|  Materials | 211078665 |  |  | 211078665 |
|  Real Estate | 230382887 |  |  | 230382887 |
|  Utilities | 279354432 |  |  | 279354432 |
|  **Futures** | 813707 |  |  | 813707 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 2316527 |  |  | 2316527 |
|  **Total Assets** | $**11897775664** | $**—** | $**—** | $**11897775664** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**11897775664** | $**—** | $**—** | $**11897775664** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $9430936180 |
|  Aggregate gross unrealized depreciation | (168442440) |
|  Net unrealized appreciation | $9262493740 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $2635281924 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/FIDELITY INSTITUTIONAL AM® LARGE CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (10.6%)** |  |  |
|  ***Diversified Telecommunication Services (0.2%)*** |  |  |
|  Cellnex Telecom SA(m) | 2800 | $96944 |
|  Deutsche Telekom AG (Registered) | 79900 | 2721329 |
|  Zegona Communications plc\* | 37700 | 623644 |
|  |  | 3441917 |
|  ***Entertainment (2.4%)*** |  |  |
|  Liberty Media Corp.-Liberty Formula One, Class C\* | 6900 | 720705 |
|  Live Nation Entertainment, Inc.\* | 6600 | 1078440 |
|  Netflix, Inc.\* | 12802 | 15348574 |
|  ROBLOX Corp., Class A\* | 17300 | 2396396 |
|  Spotify Technology SA\* | 5800 | 4048400 |
|  Walt Disney Co. (The) | 55145 | 6314102 |
|  Warner Bros Discovery, Inc.\* | 163200 | 3187296 |
|  |  | 33093913 |
|  ***Interactive Media & Services (8.0%)*** |  |  |
|  Alphabet, Inc., Class A | 55367 | 13459718 |
|  Alphabet, Inc., Class C | 260240 | 63381452 |
|  Meta Platforms, Inc., Class A | 49229 | 36152793 |
|  |  | 112993963 |
|  ***Media (0.0%)†*** |  |  |
|  EchoStar Corp., Class A(x)\* | 8300 | 633788 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 150163581 |
|  **Consumer Discretionary (10.5%)** |  |  |
|  ***Automobile Components (0.1%)*** |  |  |
|  Aptiv plc\* | 12500 | 1077750 |
|  ***Automobiles (1.9%)*** |  |  |
|  Tesla, Inc.\* | 61360 | 27288019 |
|  ***Broadline Retail (4.5%)*** |  |  |
|  Amazon.com, Inc.\* | 276500 | 60711105 |
|  Etsy, Inc.\* | 8300 | 551037 |
|  Prosus NV | 22100 | 1555233 |
|  |  | 62817375 |
|  ***Distributors (0.0%)†*** |  |  |
|  LKQ Corp. | 24300 | 742122 |
|  ***Diversified Consumer Services (0.2%)*** |  |  |
|  Duolingo, Inc., Class A\* | 3300 | 1062072 |
|  Service Corp. International | 18700 | 1556214 |
|  |  | 2618286 |
|  ***Hotels, Restaurants & Leisure (1.4%)*** |  |  |
|  Airbnb, Inc., Class A\* | 18500 | 2246270 |
|  Booking Holdings, Inc. | 368 | 1986931 |
|  Chipotle Mexican Grill, Inc.\* | 29000 | 1136510 |
|  Churchill Downs, Inc. | 15200 | 1474552 |
|  Domino's Pizza, Inc. | 3380 | 1459180 |
|  DraftKings, Inc., Class A\* | 40900 | 1529660 |
|  Dutch Bros, Inc., Class A\* | 10600 | 554804 |
|  Marriott International, Inc., Class A | 13610 | 3544588 |
|  McDonald's Corp. | 2600 | 790114 |
|  Restaurant Brands International, Inc. | 23300 | 1494736 |
|  Starbucks Corp. | 8700 | 736020 |
|  Wyndham Hotels & Resorts, Inc.(x) | 13700 | 1094630 |
|  Yum! Brands, Inc. | 14250 | 2166000 |
|  |  | 20213995 |
|  ***Household Durables (0.2%)*** |  |  |
|  PulteGroup, Inc. | 18300 | 2417979 |
|  Somnigroup International, Inc. | 10500 | 885465 |
|  |  | 3303444 |
|  ***Specialty Retail (1.7%)*** |  |  |
|  Dick's Sporting Goods, Inc. | 4800 | 1066656 |
|  Floor & Decor Holdings, Inc., Class A(x)\* | 13600 | 1002320 |
|  Home Depot, Inc. (The) | 11820 | 4789346 |
|  Lowe's Cos., Inc. | 43200 | 10856592 |
|  Ross Stores, Inc. | 31400 | 4785046 |
|  TJX Cos., Inc. (The) | 5570 | 805088 |
|  |  | 23305048 |
|  ***Textiles, Apparel & Luxury Goods (0.5%)*** |  |  |
|  Amer Sports, Inc.\* | 11300 | 392675 |
|  NIKE, Inc., Class B | 45250 | 3155283 |
|  On Holding AG, Class A\* | 6400 | 271040 |
|  PVH Corp. | 19400 | 1625138 |
|  Tapestry, Inc. | 10660 | 1206925 |
|  |  | 6651061 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 148017100 |
|  **Consumer Staples (4.7%)** |  |  |
|  ***Beverages (1.4%)*** |  |  |
|  Coca-Cola Co. (The) | 152906 | 10140726 |
|  Constellation Brands, Inc., Class A | 8903 | 1198967 |
|  Diageo plc | 46800 | 1117523 |
|  Keurig Dr Pepper, Inc. | 118874 | 3032476 |
|  Monster Beverage Corp.\* | 16871 | 1135587 |
|  PepsiCo, Inc. | 23203 | 3258629 |
|  |  | 19883908 |
|  ***Consumer Staples Distribution & Retail (1.6%)*** |  |  |
|  Alimentation Couche-Tard, Inc. | 14320 | 764001 |
|  Costco Wholesale Corp. | 10197 | 9438649 |
|  Kroger Co. (The) | 23300 | 1570653 |
|  Target Corp. | 13450 | 1206465 |
|  Walmart, Inc. | 98863 | 10188821 |
|  |  | 23168589 |
|  ***Food Products (0.3%)*** |  |  |
|  Bunge Global SA | 20800 | 1690000 |
|  Lamb Weston Holdings, Inc. | 7241 | 420557 |
|  Mondelez International, Inc., Class A | 39331 | 2457008 |
|  |  | 4567565 |
|  ***Household Products (0.8%)*** |  |  |
|  Procter & Gamble Co. (The) | 68874 | 10582490 |
|  Reynolds Consumer Products, Inc.(x) | 29600 | 724312 |
|  |  | 11306802 |
|  ***Personal Care Products (0.2%)*** |  |  |
|  Estee Lauder Cos., Inc. (The), Class A | 8037 | 708220 |
|  Kenvue, Inc. | 83826 | 1360496 |
|  |  | 2068716 |
|  ***Tobacco (0.4%)*** |  |  |
|  British American Tobacco plc (ADR) | 29200 | 1549936 |
|  Philip Morris International, Inc. | 27300 | 4428060 |
|  |  | 5977996 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 66973576 |
|  **Energy (2.9%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (2.9%)*** |  |  |
|  Athabasca Oil Corp.\* | 339891 | 1626553 |
|  Cameco Corp. | 6540 | 548444 |
|  Chevron Corp. | 18300 | 2841807 |
|  ConocoPhillips | 39370 | 3724008 |
|  Excelerate Energy, Inc., Class A | 1670 | 42067 |
|  Expand Energy Corp. | 5942 | 631278 |
|  Exxon Mobil Corp. | 156940 | 17694985 |
|  Galp Energia SGPS SA | 19900 | 376154 |
|  Imperial Oil Ltd.(x) | 35019 | 3175288 |
|  Marathon Petroleum Corp. | 9950 | 1917763 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/FIDELITY INSTITUTIONAL AM® LARGE CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  MEG Energy Corp. | 136106 | $2746178 |
|  Meren Energy, Inc.(x) | 218101 | 288357 |
|  Murphy Oil Corp.(x) | 14850 | 421889 |
|  Shell plc (ADR) | 33954 | 2428730 |
|  South Bow Corp.(x) | 17164 | 485678 |
|  Valero Energy Corp. | 14735 | 2508781 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 41457960 |
|  **Financials (13.3%)** |  |  |
|  ***Banks (5.3%)*** |  |  |
|  AIB Group plc | 174930 | 1584480 |
|  Banco Santander SA | 281400 | 2931772 |
|  Bancorp, Inc. (The)\* | 8700 | 651543 |
|  Bank of America Corp. | 313519 | 16174445 |
|  BNP Paribas SA | 34900 | 3168546 |
|  Citigroup, Inc. | 78200 | 7937300 |
|  Comerica, Inc. | 35500 | 2432460 |
|  Eurobank Ergasias Services and Holdings SA | 628624 | 2422234 |
|  First Horizon Corp. | 93000 | 2102730 |
|  HDFC Bank Ltd. | 116166 | 1244233 |
|  JPMorgan Chase & Co. | 20824 | 6568514 |
|  KeyCorp | 78907 | 1474772 |
|  M&T Bank Corp. | 10750 | 2124415 |
|  Pathward Financial, Inc. | 10363 | 766966 |
|  Piraeus Financial Holdings SA | 164192 | 1390640 |
|  Synovus Financial Corp. | 24600 | 1207368 |
|  Truist Financial Corp. | 15725 | 718947 |
|  UMB Financial Corp. | 7692 | 910348 |
|  US Bancorp | 141970 | 6861410 |
|  Wells Fargo & Co. | 150151 | 12585657 |
|  |  | 75258780 |
|  ***Capital Markets (2.9%)*** |  |  |
|  Bank of New York Mellon Corp. (The) | 36244 | 3949146 |
|  BlackRock, Inc. | 7304 | 8515515 |
|  Cboe Global Markets, Inc. | 8956 | 2196459 |
|  Charles Schwab Corp. (The) | 78805 | 7523513 |
|  DigitalBridge Group, Inc. | 25292 | 295917 |
|  Etoro Group Ltd., Class A\* | 8900 | 367303 |
|  Intercontinental Exchange, Inc. | 31191 | 5255060 |
|  KKR & Co., Inc. | 26800 | 3482660 |
|  MarketAxess Holdings, Inc. | 15077 | 2627167 |
|  Northern Trust Corp. | 19400 | 2611240 |
|  State Street Corp. | 21115 | 2449551 |
|  Tradeweb Markets, Inc., Class A | 5734 | 636359 |
|  Virtu Financial, Inc., Class A | 39796 | 1412758 |
|  |  | 41322648 |
|  ***Consumer Finance (0.1%)*** |  |  |
|  SLM Corp. | 38100 | 1054608 |
|  ***Financial Services (2.1%)*** |  |  |
|  Affirm Holdings, Inc., Class A\* | 7740 | 565639 |
|  Apollo Global Management, Inc. | 30752 | 4098319 |
|  Berkshire Hathaway, Inc., Class A\* | 4 | 3016800 |
|  Block, Inc., Class A\* | 5862 | 423647 |
|  Fiserv, Inc.\* | 8669 | 1117694 |
|  Mastercard, Inc., Class A | 33778 | 19213264 |
|  UWM Holdings Corp., Class A(x) | 182403 | 1110834 |
|  |  | 29546197 |
|  ***Insurance (2.9%)*** |  |  |
|  American Financial Group, Inc. | 14503 | 2113377 |
|  Arthur J Gallagher & Co. | 13403 | 4151445 |
|  Baldwin Insurance Group, Inc. (The), Class A(x)\* | 29696 | 837724 |
|  Brighthouse Financial, Inc.\* | 16900 | 897052 |
|  Chubb Ltd. | 28509 | 8046665 |
|  Fairfax Financial Holdings Ltd. | 1674 | 2928688 |
|  Hartford Insurance Group, Inc. (The) | 36903 | 4922491 |
|  Hiscox Ltd. | 91900 | 1692034 |
|  Marsh & McLennan Cos., Inc. | 24541 | 4945748 |
|  Travelers Cos., Inc. (The) | 17446 | 4871272 |
|  Unum Group | 25314 | 1968923 |
|  Willis Towers Watson plc | 8369 | 2891071 |
|  |  | 40266490 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 187448723 |
|  **Health Care (8.7%)** |  |  |
|  ***Biotechnology (2.8%)*** |  |  |
|  AbbVie, Inc. | 62053 | 14367752 |
|  Alnylam Pharmaceuticals, Inc.\* | 11083 | 5053848 |
|  Argenx SE (ADR)\* | 5724 | 4221793 |
|  Avidity Biosciences, Inc.\* | 21100 | 919327 |
|  BeOne Medicines Ltd. (ADR)\* | 2037 | 694006 |
|  BioMarin Pharmaceutical, Inc.\* | 7303 | 395530 |
|  BioNTech SE (ADR)(x)\* | 5068 | 499806 |
|  Cogent Biosciences, Inc.\* | 31900 | 458084 |
|  Exact Sciences Corp.\* | 22900 | 1252859 |
|  Gilead Sciences, Inc. | 76302 | 8469522 |
|  Insmed, Inc.\* | 5626 | 810200 |
|  Nuvalent, Inc., Class A\* | 8400 | 726432 |
|  Soleno Therapeutics, Inc.\* | 7800 | 527280 |
|  Ultragenyx Pharmaceutical, Inc.\* | 13682 | 411555 |
|  uniQure NV\* | 17800 | 1038986 |
|  |  | 39846980 |
|  ***Health Care Equipment & Supplies (2.1%)*** |  |  |
|  Abbott Laboratories | 32758 | 4387607 |
|  Boston Scientific Corp.\* | 79896 | 7800246 |
|  Edwards Lifesciences Corp.\* | 42700 | 3320779 |
|  Insulet Corp.\* | 9136 | 2820557 |
|  Intuitive Surgical, Inc.\* | 5469 | 2445901 |
|  Masimo Corp.\* | 10600 | 1564030 |
|  Penumbra, Inc.\* | 9415 | 2385008 |
|  Shoulder Innovations, Inc.(x)\* | 18300 | 229665 |
|  Stryker Corp. | 13519 | 4997569 |
|  |  | 29951362 |
|  ***Health Care Providers & Services (1.3%)*** |  |  |
|  Cencora, Inc. | 16300 | 5094239 |
|  CVS Health Corp. | 59263 | 4467838 |
|  HealthEquity, Inc.\* | 6365 | 603211 |
|  Humana, Inc. | 1713 | 445671 |
|  Tenet Healthcare Corp.\* | 16570 | 3364373 |
|  UnitedHealth Group, Inc. | 13050 | 4506165 |
|  |  | 18481497 |
|  ***Health Care Technology (0.2%)*** |  |  |
|  Veeva Systems, Inc., Class A\* | 8692 | 2589434 |
|  ***Life Sciences Tools & Services (0.6%)*** |  |  |
|  Danaher Corp. | 29461 | 5840938 |
|  IQVIA Holdings, Inc.\* | 10900 | 2070346 |
|  Repligen Corp.\* | 7300 | 975791 |
|  |  | 8887075 |
|  ***Pharmaceuticals (1.7%)*** |  |  |
|  Elanco Animal Health, Inc.(x)\* | 149000 | 3000860 |
|  Eli Lilly & Co. | 16886 | 12884018 |
|  Pfizer, Inc. | 38863 | 990229 |
|  UCB SA | 24264 | 6694480 |
|  |  | 23569587 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 123325935 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/FIDELITY INSTITUTIONAL AM® LARGE CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  **Industrials (8.3%)** |  |  |
|  ***Aerospace & Defense (2.8%)*** |  |  |
|  Boeing Co. (The)\* | 31755 | $6853682 |
|  GE Aerospace | 43173 | 12987302 |
|  Howmet Aerospace, Inc. | 29170 | 5724029 |
|  Lockheed Martin Corp. | 8605 | 4295702 |
|  Northrop Grumman Corp. | 5369 | 3271439 |
|  RTX Corp. | 12779 | 2138310 |
|  TransDigm Group, Inc. | 3230 | 4257204 |
|  |  | 39527668 |
|  ***Building Products (0.7%)*** |  |  |
|  Trane Technologies plc | 23969 | 10113959 |
|  ***Commercial Services & Supplies (0.4%)*** |  |  |
|  Cintas Corp. | 13080 | 2684801 |
|  Republic Services, Inc. | 11350 | 2604598 |
|  |  | 5289399 |
|  ***Construction & Engineering (0.2%)*** |  |  |
|  Quanta Services, Inc. | 8860 | 3671761 |
|  ***Electrical Equipment (1.2%)*** |  |  |
|  AMETEK, Inc. | 25977 | 4883676 |
|  Eaton Corp. plc | 11730 | 4389953 |
|  GE Vernova, Inc. | 12100 | 7440290 |
|  |  | 16713919 |
|  ***Ground Transportation (0.8%)*** |  |  |
|  CSX Corp. | 56480 | 2005605 |
|  Old Dominion Freight Line, Inc. | 14020 | 1973735 |
|  Uber Technologies, Inc.\* | 60610 | 5937962 |
|  Union Pacific Corp. | 6080 | 1437130 |
|  |  | 11354432 |
|  ***Machinery (1.7%)*** |  |  |
|  Caterpillar, Inc. | 5100 | 2433465 |
|  Cummins, Inc. | 10390 | 4388424 |
|  Deere & Co. | 1870 | 855076 |
|  Dover Corp. | 15630 | 2607553 |
|  Ingersoll Rand, Inc. | 34450 | 2846259 |
|  Parker-Hannifin Corp. | 10834 | 8213797 |
|  Westinghouse Air Brake Technologies Corp. | 12110 | 2427692 |
|  |  | 23772266 |
|  ***Professional Services (0.2%)*** |  |  |
|  Verisk Analytics, Inc. | 9040 | 2273650 |
|  ***Trading Companies & Distributors (0.3%)*** |  |  |
|  Fastenal Co. | 47800 | 2344112 |
|  United Rentals, Inc. | 1560 | 1489270 |
|  |  | 3833382 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 116550436 |
|  **Information Technology (33.9%)** |  |  |
|  ***Communications Equipment (1.6%)*** |  |  |
|  Arista Networks, Inc.\* | 65007 | 9472170 |
|  Cisco Systems, Inc. | 160912 | 11009599 |
|  Motorola Solutions, Inc. | 3000 | 1371870 |
|  |  | 21853639 |
|  ***Electronic Equipment, Instruments & Components (0.6%)*** |  |  |
|  Amphenol Corp., Class A | 30589 | 3785389 |
|  Chroma ATE, Inc. | 47000 | 892873 |
|  Delta Electronics, Inc. | 122000 | 3418466 |
|  |  | 8096728 |
|  ***IT Services (0.0%)†*** |  |  |
|  Accenture plc, Class A | 700 | 172620 |
|  ***Semiconductors & Semiconductor Equipment (15.0%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 1900 | 307401 |
|  Analog Devices, Inc. | 22000 | 5405400 |
|  Astera Labs, Inc.\* | 600 | 117480 |
|  Broadcom, Inc. | 107832 | 35574855 |
|  First Solar, Inc.\* | 2430 | 535888 |
|  Jentech Precision Industrial Co. Ltd. | 17000 | 1344249 |
|  Marvell Technology, Inc. | 63400 | 5330038 |
|  Micron Technology, Inc. | 72522 | 12134381 |
|  NVIDIA Corp. | 670445 | 125091628 |
|  NXP Semiconductors NV | 19837 | 4517480 |
|  SK Hynix, Inc. | 29610 | 7333648 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. | 131000 | 5609128 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. (ADR) | 28300 | 7903907 |
|  |  | 211205483 |
|  ***Software (9.4%)*** |  |  |
|  BitMine Immersion Technologies, Inc.(x)\* | 2400 | 124632 |
|  Cadence Design Systems, Inc.\* | 14700 | 5163522 |
|  Datadog, Inc., Class A\* | 29400 | 4186560 |
|  Figma, Inc., Class A(x)\* | 2800 | 145236 |
|  HubSpot, Inc.\* | 700 | 327460 |
|  Microsoft Corp. | 215400 | 111566430 |
|  Oracle Corp. | 10271 | 2888616 |
|  Palantir Technologies, Inc., Class A\* | 20400 | 3721368 |
|  ServiceNow, Inc.\* | 400 | 368112 |
|  Synopsys, Inc.\* | 9400 | 4637866 |
|  |  | 133129802 |
|  ***Technology Hardware, Storage & Peripherals (7.3%)*** |  |  |
|  Apple, Inc. | 402154 | 102400473 |
|  Asia Vital Components Co. Ltd. | 15000 | 482807 |
|  |  | 102883280 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 477341552 |
|  **Materials (1.8%)** |  |  |
|  ***Chemicals (1.2%)*** |  |  |
|  Air Products and Chemicals, Inc. | 5500 | 1499960 |
|  Balchem Corp. | 2680 | 402161 |
|  Chemours Co. (The) | 13105 | 207583 |
|  Corteva, Inc. | 21040 | 1422935 |
|  Ecolab, Inc. | 9863 | 2701081 |
|  Element Solutions, Inc. | 15197 | 382508 |
|  Linde plc | 12017 | 5708075 |
|  LyondellBasell Industries NV, Class A | 15540 | 762082 |
|  Mosaic Co. (The) | 44110 | 1529735 |
|  Nutrien Ltd.(x) | 7228 | 424356 |
|  Olin Corp. | 8510 | 212665 |
|  Sherwin-Williams Co. (The) | 3227 | 1117381 |
|  |  | 16370522 |
|  ***Construction Materials (0.1%)*** |  |  |
|  Martin Marietta Materials, Inc. | 2358 | 1486200 |
|  ***Containers & Packaging (0.1%)*** |  |  |
|  AptarGroup, Inc. | 2359 | 315304 |
|  International Paper Co. | 25708 | 1192851 |
|  |  | 1508155 |
|  ***Metals & Mining (0.4%)*** |  |  |
|  First Quantum Minerals Ltd.\* | 35440 | 801647 |
|  Freeport-McMoRan, Inc. | 25044 | 982226 |
|  Newmont Corp. | 22141 | 1866708 |
|  Nucor Corp. | 9131 | 1236611 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FIDELITY INSTITUTIONAL AM® LARGE CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Wheaton Precious Metals Corp.\* | 6592 | $737249 |
|  |  | 5624441 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 24989318 |
|  **Real Estate (1.9%)** |  |  |
|  ***Health Care REITs (0.3%)*** |  |  |
|  CareTrust REIT, Inc. (REIT) | 6606 | 229096 |
|  Ventas, Inc. (REIT) | 15682 | 1097583 |
|  Welltower, Inc. (REIT) | 18261 | 3253015 |
|  |  | 4579694 |
|  ***Industrial REITs (0.2%)*** |  |  |
|  Americold Realty Trust, Inc. (REIT) | 11805 | 144493 |
|  Prologis, Inc. (REIT) | 13192 | 1510748 |
|  Terreno Realty Corp. (REIT) | 12517 | 710340 |
|  |  | 2365581 |
|  ***Office REITs (0.1%)*** |  |  |
|  COPT Defense Properties (REIT) | 17918 | 520697 |
|  Kilroy Realty Corp. (REIT)(x) | 15345 | 648326 |
|  Vornado Realty Trust (REIT) | 12600 | 510678 |
|  |  | 1679701 |
|  ***Real Estate Management & Development (0.2%)*** |  |  |
|  CBRE Group, Inc., Class A\* | 10994 | 1732214 |
|  CoStar Group, Inc.\* | 7700 | 649649 |
|  |  | 2381863 |
|  ***Residential REITs (0.2%)*** |  |  |
|  Camden Property Trust (REIT) | 7548 | 805976 |
|  Invitation Homes, Inc. (REIT) | 40910 | 1199890 |
|  Sun Communities, Inc. (REIT) | 4283 | 552507 |
|  |  | 2558373 |
|  ***Retail REITs (0.2%)*** |  |  |
|  Curbline Properties Corp. (REIT) | 20726 | 462190 |
|  Macerich Co. (The) (REIT) | 42567 | 774720 |
|  NNN REIT, Inc. (REIT) | 11797 | 502198 |
|  Tanger, Inc. (REIT) | 17155 | 580525 |
|  |  | 2319633 |
|  ***Specialized REITs (0.7%)*** |  |  |
|  American Tower Corp. (REIT) | 16923 | 3254631 |
|  CubeSmart (REIT) | 13528 | 550049 |
|  Digital Realty Trust, Inc. (REIT) | 8887 | 1536385 |
|  Equinix, Inc. (REIT) | 2676 | 2095950 |
|  Extra Space Storage, Inc. (REIT) | 388 | 54685 |
|  Four Corners Property Trust, Inc. (REIT) | 11206 | 273426 |
|  Iron Mountain, Inc. (REIT) | 12500 | 1274250 |
|  Public Storage (REIT) | 4480 | 1294048 |
|  SBA Communications Corp. (REIT) | 1300 | 251355 |
|  |  | 10584779 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 26469624 |
|  **Utilities (2.2%)** |  |  |
|  ***Electric Utilities (1.6%)*** |  |  |
|  Alliant Energy Corp. | 4820 | 324916 |
|  Constellation Energy Corp. | 9576 | 3151174 |
|  Duke Energy Corp. | 23290 | 2882138 |
|  Entergy Corp. | 18760 | 1748244 |
|  Evergy, Inc. | 15580 | 1184392 |
|  Exelon Corp. | 42000 | 1890420 |
|  NextEra Energy, Inc. | 58540 | 4419185 |
|  NRG Energy, Inc. | 9620 | 1557959 |
|  PG&E Corp. | 75770 | 1142612 |
|  PPL Corp. | 35040 | 1302086 |
|  Southern Co. (The) | 9120 | 864302 |
|  Xcel Energy, Inc. | 20260 | 1633969 |
|  |  | 22101397 |
|  ***Independent Power and Renewable Electricity Producers (0.2%)*** |  |  |
|  AES Corp. (The) | 10470 | 137785 |
|  Talen Energy Corp.\* | 520 | 221198 |
|  Vistra Corp. | 11280 | 2209977 |
|  |  | 2568960 |
|  ***Multi-Utilities (0.4%)*** |  |  |
|  Ameren Corp. | 13600 | 1419568 |
|  CenterPoint Energy, Inc. | 32020 | 1242376 |
|  NiSource, Inc. | 23960 | 1037468 |
|  Sempra | 27460 | 2470851 |
|  |  | 6170263 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 30840620 |
|  **Total Common Stocks (98.8%)**<br> *(Cost $785,207,098)* |  | 1393578425 |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (0.6%)** |  |  |
|  iShares Core S&P 500 ETF | 11700 | 7830810 |
|  **Total Exchange Traded Funds (0.6%)<br>(***Cost $7,636,123)* |  | 7830810 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.1%**) |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 1977029 | 1977029 |
|  **Total Short-Term Investments (0.1%)**<br> *(Cost $1,977,029)* |  | 1977029 |
|  **Total Investments in Securities (99.5%)**<br> *(Cost $794,820,250)* |  | 1403386264 |
|  **Other Assets Less Liabilities (0.5%)**<br>|  | 6645241 |
|  **Net Assets (100%)** |  | $1410031505 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FIDELITY INSTITUTIONAL AM® LARGE CAP PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $96,944 or 0.0% of net assets.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $11,182,830. This was collateralized by $9,700,968 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.250%, maturing 10/9/25 – 5/15/55 and by cash of $1,977,029 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*REIT — Real Estate Investment Trust* 

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $146721664 | $3441917 | $— | $150163581 |
|  Consumer Discretionary | 146461867 | 1555233 |  | 148017100 |
|  Consumer Staples | 65856053 | 1117523 |  | 66973576 |
|  Energy | 41081806 | 376154 |  | 41457960 |
|  Financials | 173014784 | 14433939 |  | 187448723 |
|  Health Care | 116631455 | 6694480 |  | 123325935 |
|  Industrials | 116550436 |  |  | 116550436 |
|  Information Technology | 458260381 | 19081171 |  | 477341552 |
|  Materials | 24989318 |  |  | 24989318 |
|  Real Estate | 26469624 |  |  | 26469624 |
|  Utilities | 30840620 |  |  | 30840620 |
|  **Exchange Traded Funds** | 7830810 |  |  | 7830810 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 1977029 |  |  | 1977029 |
|  **Total Assets** | $**1356685847** | $**46700417** | $**—** | $**1403386264** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**1356685847** | $**46700417** | $**—** | $**1403386264** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $621787128 |
|  Aggregate gross unrealized depreciation | (14944769) |
|  Net unrealized appreciation | $606842359 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $796543905 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (2.4%)** |  |  |
|  ***Diversified Telecommunication Services (0.2%)*** |  |  |
|  AT&T, Inc. | 9453 | $266953 |
|  Verizon Communications, Inc. | 5535 | 243263 |
|  |  | 510216 |
|  ***Entertainment (0.4%)*** |  |  |
|  Electronic Arts, Inc. | 306 | 61720 |
|  Live Nation Entertainment, Inc.\* | 214 | 34968 |
|  Netflix, Inc.\* | 560 | 671395 |
|  Take-Two Interactive Software, Inc.\* | 235 | 60715 |
|  TKO Group Holdings, Inc., Class A | 91 | 18378 |
|  Walt Disney Co. (The) | 2371 | 271480 |
|  Warner Bros Discovery, Inc.\* | 3261 | 63687 |
|  |  | 1182343 |
|  ***Interactive Media & Services (1.7%)*** |  |  |
|  Alphabet, Inc., Class A | 7673 | 1865306 |
|  Alphabet, Inc., Class C | 6160 | 1500268 |
|  Match Group, Inc. | 297 | 10490 |
|  Meta Platforms, Inc., Class A | 2861 | 2101061 |
|  |  | 5477125 |
|  ***Media (0.1%)*** |  |  |
|  Charter Communications, Inc., Class A(x)\* | 115 | 31637 |
|  Comcast Corp., Class A | 4886 | 153518 |
|  Fox Corp., Class A | 249 | 15702 |
|  Fox Corp., Class B | 180 | 10312 |
|  Interpublic Group of Cos., Inc. (The) | 480 | 13397 |
|  News Corp., Class A | 513 | 15754 |
|  News Corp., Class B | 153 | 5286 |
|  Omnicom Group, Inc. | 259 | 21117 |
|  Paramount Skydance Corp., Class B(x) | 410 | 7757 |
|  Trade Desk, Inc. (The), Class A\* | 608 | 29798 |
|  |  | 304278 |
|  ***Wireless Telecommunication Services (0.0%)†*** |  |  |
|  T-Mobile US, Inc. | 647 | 154879 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 7628841 |
|  **Consumer Discretionary (2.5%)** |  |  |
|  ***Automobile Components (0.0%)†*** |  |  |
|  Aptiv plc\* | 301 | 25952 |
|  ***Automobiles (0.6%)*** |  |  |
|  Ford Motor Co. | 5268 | 63005 |
|  General Motors Co. | 1276 | 77798 |
|  Tesla, Inc.\* | 3700 | 1645464 |
|  |  | 1786267 |
|  ***Broadline Retail (0.9%)*** |  |  |
|  Amazon.com, Inc.\* | 12799 | 2810277 |
|  eBay, Inc. | 597 | 54297 |
|  |  | 2864574 |
|  ***Distributors (0.0%)†*** |  |  |
|  Genuine Parts Co. | 191 | 26473 |
|  LKQ Corp. | 354 | 10811 |
|  Pool Corp. | 41 | 12713 |
|  |  | 49997 |
|  ***Hotels, Restaurants & Leisure (0.4%)*** |  |  |
|  Airbnb, Inc., Class A\* | 553 | 67145 |
|  Booking Holdings, Inc. | 43 | 232169 |
|  Carnival Corp.\* | 1448 | 41862 |
|  Chipotle Mexican Grill, Inc.\* | 1720 | 67407 |
|  Darden Restaurants, Inc. | 148 | 28173 |
|  Domino's Pizza, Inc. | 38 | 16405 |
|  DoorDash, Inc., Class A\* | 488 | 132731 |
|  Expedia Group, Inc. | 150 | 32062 |
|  Hilton Worldwide Holdings, Inc. | 310 | 80426 |
|  Las Vegas Sands Corp. | 376 | 20225 |
|  Marriott International, Inc., Class A | 295 | 76830 |
|  McDonald's Corp. | 941 | 285960 |
|  MGM Resorts International\* | 262 | 9081 |
|  Norwegian Cruise Line Holdings Ltd.\* | 611 | 15049 |
|  Royal Caribbean Cruises Ltd. | 332 | 107429 |
|  Starbucks Corp. | 1515 | 128169 |
|  Wynn Resorts Ltd. | 121 | 15521 |
|  Yum! Brands, Inc. | 378 | 57456 |
|  |  | 1414100 |
|  ***Household Durables (0.1%)*** |  |  |
|  DR Horton, Inc. | 357 | 60501 |
|  Garmin Ltd. | 207 | 50967 |
|  Lennar Corp., Class A | 287 | 36173 |
|  Mohawk Industries, Inc.\* | 66 | 8509 |
|  NVR, Inc.\* | 3 | 24104 |
|  PulteGroup, Inc. | 269 | 35543 |
|  |  | 215797 |
|  ***Leisure Products (0.0%)†*** |  |  |
|  Hasbro, Inc. | 164 | 12439 |
|  ***Specialty Retail (0.4%)*** |  |  |
|  AutoZone, Inc.\* | 22 | 94385 |
|  Best Buy Co., Inc. | 264 | 19964 |
|  CarMax, Inc.\* | 213 | 9557 |
|  Home Depot, Inc. (The) | 1312 | 531609 |
|  Lowe's Cos., Inc. | 733 | 184210 |
|  O'Reilly Automotive, Inc.\* | 1122 | 120963 |
|  Ross Stores, Inc. | 418 | 63699 |
|  TJX Cos., Inc. (The) | 1471 | 212619 |
|  Tractor Supply Co. | 722 | 41060 |
|  Ulta Beauty, Inc.\* | 57 | 31165 |
|  Williams-Sonoma, Inc. | 166 | 32445 |
|  |  | 1341676 |
|  ***Textiles, Apparel & Luxury Goods (0.1%)*** |  |  |
|  Deckers Outdoor Corp.\* | 207 | 20984 |
|  Lululemon Athletica, Inc.\* | 139 | 24732 |
|  NIKE, Inc., Class B | 1584 | 110452 |
|  Ralph Lauren Corp. | 53 | 16619 |
|  Tapestry, Inc. | 279 | 31588 |
|  |  | 204375 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 7915177 |
|  **Consumer Staples (1.1%)** |  |  |
|  ***Beverages (0.2%)*** |  |  |
|  Brown-Forman Corp., Class B | 231 | 6256 |
|  Coca-Cola Co. (The) | 5103 | 338431 |
|  Constellation Brands, Inc., Class A | 193 | 25991 |
|  Keurig Dr Pepper, Inc. | 1826 | 46581 |
|  Molson Coors Beverage Co., Class B | 210 | 9503 |
|  Monster Beverage Corp.\* | 952 | 64079 |
|  PepsiCo, Inc. | 1795 | 252090 |
|  |  | 742931 |
|  ***Consumer Staples Distribution & Retail (0.4%)*** |  |  |
|  Costco Wholesale Corp. | 586 | 542419 |
|  Dollar General Corp. | 291 | 30075 |
|  Dollar Tree, Inc.\* | 247 | 23309 |
|  Kroger Co. (The) | 778 | 52445 |
|  Sysco Corp. | 618 | 50886 |
|  Target Corp. | 587 | 52654 |
|  Walmart, Inc. | 5800 | 597748 |
|  |  | 1349536 |
|  ***Food Products (0.1%)*** |  |  |
|  Archer-Daniels-Midland Co. | 602 | 35963 |
|  Bunge Global SA | 191 | 15519 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Campbell's Co. (The)(x) | 246 | $7769 |
|  Conagra Brands, Inc. | 640 | 11718 |
|  General Mills, Inc. | 695 | 35042 |
|  Hershey Co. (The) | 198 | 37036 |
|  Hormel Foods Corp. | 363 | 8981 |
|  J M Smucker Co. (The) | 142 | 15421 |
|  Kellanova | 354 | 29035 |
|  Kraft Heinz Co. (The) | 1190 | 30988 |
|  Lamb Weston Holdings, Inc. | 183 | 10629 |
|  McCormick & Co., Inc. (Non- Voting) | 331 | 22147 |
|  Mondelez International, Inc., Class A | 1730 | 108073 |
|  Tyson Foods, Inc., Class A | 380 | 20634 |
|  |  | 388955 |
|  ***Household Products (0.2%)*** |  |  |
|  Church & Dwight Co., Inc. | 328 | 28742 |
|  Clorox Co. (The) | 166 | 20468 |
|  Colgate-Palmolive Co. | 1055 | 84337 |
|  Kimberly-Clark Corp. | 426 | 52969 |
|  Procter & Gamble Co. (The) | 3094 | 475393 |
|  |  | 661909 |
|  ***Personal Care Products (0.0%)†*** |  |  |
|  Estee Lauder Cos., Inc. (The), Class A | 313 | 27581 |
|  Kenvue, Inc. | 2573 | 41760 |
|  |  | 69341 |
|  ***Tobacco (0.2%)*** |  |  |
|  Altria Group, Inc. | 2227 | 147116 |
|  Philip Morris International, Inc. | 2048 | 332185 |
|  |  | 479301 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 3691973 |
|  **Energy (0.7%)** |  |  |
|  ***Energy Equipment & Services (0.1%)*** |  |  |
|  Baker Hughes Co. | 1261 | 61436 |
|  Halliburton Co. | 1190 | 29274 |
|  Schlumberger NV | 1958 | 67296 |
|  |  | 158006 |
|  ***Oil, Gas & Consumable Fuels (0.6%)*** |  |  |
|  APA Corp. | 458 | 11120 |
|  Chevron Corp. | 2540 | 394437 |
|  ConocoPhillips | 1663 | 157303 |
|  Coterra Energy, Inc. | 1022 | 24170 |
|  Devon Energy Corp. | 804 | 28188 |
|  Diamondback Energy, Inc. | 249 | 35632 |
|  EOG Resources, Inc. | 726 | 81399 |
|  EQT Corp. | 802 | 43653 |
|  Expand Energy Corp. | 325 | 34528 |
|  Exxon Mobil Corp. | 5620 | 633655 |
|  Kinder Morgan, Inc. | 2589 | 73295 |
|  Marathon Petroleum Corp. | 400 | 77096 |
|  Occidental Petroleum Corp. | 956 | 45171 |
|  ONEOK, Inc. | 844 | 61587 |
|  Phillips 66 | 527 | 71682 |
|  Targa Resources Corp. | 277 | 46409 |
|  Texas Pacific Land Corp.(x) | 25 | 23341 |
|  Valero Energy Corp. | 401 | 68274 |
|  Williams Cos., Inc. (The) | 1637 | 103704 |
|  |  | 2014644 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 2172650 |
|  **Financials (3.2%)** |  |  |
|  ***Banks (0.8%)*** |  |  |
|  Bank of America Corp. | 8979 | 463227 |
|  Citigroup, Inc. | 2420 | 245630 |
|  Citizens Financial Group, Inc. | 535 | 28441 |
|  Fifth Third Bancorp | 901 | 40139 |
|  Huntington Bancshares, Inc. | 1981 | 34212 |
|  JPMorgan Chase & Co. | 3625 | 1143434 |
|  KeyCorp | 1177 | 21998 |
|  M&T Bank Corp. | 205 | 40512 |
|  PNC Financial Services Group, Inc. (The) | 514 | 103278 |
|  Regions Financial Corp. | 1234 | 32540 |
|  Truist Financial Corp. | 1696 | 77541 |
|  US Bancorp | 2084 | 100720 |
|  Wells Fargo & Co. | 4221 | 353804 |
|  |  | 2685476 |
|  ***Capital Markets (0.8%)*** |  |  |
|  Ameriprise Financial, Inc. | 123 | 60424 |
|  Bank of New York Mellon Corp. (The) | 929 | 101224 |
|  BlackRock, Inc. | 192 | 223847 |
|  Blackstone, Inc. | 980 | 167433 |
|  Cboe Global Markets, Inc. | 143 | 35071 |
|  Charles Schwab Corp. (The) | 2239 | 213757 |
|  CME Group, Inc. | 474 | 128070 |
|  Coinbase Global, Inc., Class A\* | 298 | 100572 |
|  FactSet Research Systems, Inc. | 52 | 14897 |
|  Goldman Sachs Group, Inc. (The) | 399 | 317744 |
|  Interactive Brokers Group, Inc., Class A | 576 | 39635 |
|  Intercontinental Exchange, Inc. | 756 | 127371 |
|  Invesco Ltd. | 581 | 13328 |
|  KKR & Co., Inc. | 906 | 117735 |
|  Moody's Corp. | 202 | 96249 |
|  Morgan Stanley | 1598 | 254018 |
|  MSCI, Inc. | 100 | 56741 |
|  Nasdaq, Inc. | 596 | 52716 |
|  Northern Trust Corp. | 245 | 32977 |
|  Raymond James Financial, Inc. | 230 | 39698 |
|  Robinhood Markets, Inc., Class A\* | 1018 | 145757 |
|  S&P Global, Inc. | 414 | 201498 |
|  State Street Corp. | 395 | 45824 |
| T. Rowe Price Group, Inc. | 297 | 30484 |
|  |  | 2617070 |
|  ***Consumer Finance (0.2%)*** |  |  |
|  American Express Co. | 715 | 237494 |
|  Capital One Financial Corp. | 837 | 177930 |
|  Synchrony Financial | 485 | 34459 |
|  |  | 449883 |
|  ***Financial Services (1.0%)*** |  |  |
|  Apollo Global Management, Inc. | 600 | 79962 |
|  Berkshire Hathaway, Inc., Class B\* | 2420 | 1216631 |
|  Block, Inc., Class A\* | 729 | 52685 |
|  Corpay, Inc.\* | 95 | 27366 |
|  Fidelity National Information Services, Inc. | 678 | 44707 |
|  Fiserv, Inc.\* | 705 | 90895 |
|  Global Payments, Inc. | 298 | 24758 |
|  Jack Henry & Associates, Inc. | 98 | 14595 |
|  Mastercard, Inc., Class A | 1090 | 620003 |
|  PayPal Holdings, Inc.\* | 1283 | 86038 |
|  Visa, Inc., Class A | 2242 | 765374 |
|  |  | 3023014 |
|  ***Insurance (0.4%)*** |  |  |
|  Aflac, Inc. | 639 | 71376 |
|  Allstate Corp. (The) | 355 | 76201 |
|  American International Group, Inc. | 717 | 56313 |
|  Aon plc, Class A | 281 | 100199 |
|  Arch Capital Group Ltd. | 503 | 45637 |
|  Arthur J Gallagher & Co. | 343 | 106241 |
|  Assurant, Inc. | 65 | 14079 |
|  Brown & Brown, Inc. | 383 | 35922 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Chubb Ltd. | 486 | $137174 |
|  Cincinnati Financial Corp. | 220 | 34782 |
|  Erie Indemnity Co., Class A | 32 | 10181 |
|  Everest Group Ltd. | 58 | 20313 |
|  Globe Life, Inc. | 113 | 16156 |
|  Hartford Insurance Group, Inc. (The) | 363 | 48421 |
|  Loews Corp. | 244 | 24495 |
|  Marsh & McLennan Cos., Inc. | 641 | 129181 |
|  MetLife, Inc. | 741 | 61036 |
|  Principal Financial Group, Inc. | 290 | 24044 |
|  Progressive Corp. (The) | 771 | 190398 |
|  Prudential Financial, Inc. | 484 | 50210 |
|  Travelers Cos., Inc. (The) | 293 | 81812 |
|  W.R. Berkley Corp. | 407 | 31184 |
|  Willis Towers Watson plc | 125 | 43181 |
|  |  | 1408536 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 10183979 |
|  **Health Care (2.1%)** |  |  |
|  ***Biotechnology (0.4%)*** |  |  |
|  AbbVie, Inc. | 2329 | 539257 |
|  Amgen, Inc. | 703 | 198387 |
|  Biogen, Inc.\* | 195 | 27315 |
|  Gilead Sciences, Inc. | 1637 | 181707 |
|  Incyte Corp.\* | 230 | 19506 |
|  Moderna, Inc.\* | 449 | 11598 |
|  Regeneron Pharmaceuticals, Inc. | 135 | 75906 |
|  Vertex Pharmaceuticals, Inc.\* | 337 | 131983 |
|  |  | 1185659 |
|  ***Health Care Equipment & Supplies (0.5%)*** |  |  |
|  Abbott Laboratories | 2290 | 306723 |
|  Align Technology, Inc.\* | 94 | 11771 |
|  Baxter International, Inc. | 689 | 15689 |
|  Becton Dickinson & Co. | 369 | 69066 |
|  Boston Scientific Corp.\* | 1940 | 189402 |
|  Cooper Cos., Inc. (The)\* | 267 | 18305 |
|  Dexcom, Inc.\* | 534 | 35933 |
|  Edwards Lifesciences Corp.\* | 763 | 59338 |
|  GE HealthCare Technologies, Inc. | 613 | 46036 |
|  Hologic, Inc.\* | 266 | 17952 |
|  IDEXX Laboratories, Inc.\* | 106 | 67722 |
|  Insulet Corp.\* | 94 | 29021 |
|  Intuitive Surgical, Inc.\* | 476 | 212881 |
|  Medtronic plc | 1710 | 162860 |
|  ResMed, Inc. | 197 | 53925 |
|  Solventum Corp.\* | 191 | 13943 |
|  STERIS plc | 131 | 32415 |
|  Stryker Corp. | 449 | 165982 |
|  Zimmer Biomet Holdings, Inc. | 240 | 23640 |
|  |  | 1532604 |
|  ***Health Care Providers & Services (0.4%)*** |  |  |
|  Cardinal Health, Inc. | 308 | 48344 |
|  Cencora, Inc. | 256 | 80008 |
|  Centene Corp.\* | 625 | 22300 |
|  Cigna Group (The) | 357 | 102905 |
|  CVS Health Corp. | 1649 | 124318 |
|  DaVita, Inc.\* | 54 | 7175 |
|  Elevance Health, Inc. | 301 | 97259 |
|  HCA Healthcare, Inc. | 216 | 92059 |
|  Henry Schein, Inc.\* | 115 | 7633 |
|  Humana, Inc. | 161 | 41887 |
|  Labcorp Holdings, Inc. | 114 | 32725 |
|  McKesson Corp. | 164 | 126697 |
|  Molina Healthcare, Inc.\* | 67 | 12821 |
|  Quest Diagnostics, Inc. | 150 | 28587 |
|  UnitedHealth Group, Inc. | 1194 | 412288 |
|  Universal Health Services, Inc., Class B | 80 | 16355 |
|  |  | 1253361 |
|  ***Life Sciences Tools & Services (0.2%)*** |  |  |
|  Agilent Technologies, Inc. | 361 | 46334 |
|  Bio-Techne Corp. | 201 | 11182 |
|  Charles River Laboratories International, Inc.\* | 65 | 10170 |
|  Danaher Corp. | 837 | 165944 |
|  IQVIA Holdings, Inc.\* | 228 | 43306 |
|  Mettler-Toledo International, Inc.\* | 28 | 34373 |
|  Revvity, Inc. | 169 | 14813 |
|  Thermo Fisher Scientific, Inc. | 500 | 242510 |
|  Waters Corp.\* | 79 | 23685 |
|  West Pharmaceutical Services, Inc. | 98 | 25708 |
|  |  | 618025 |
|  ***Pharmaceuticals (0.6%)*** |  |  |
|  Bristol-Myers Squibb Co. | 2644 | 119244 |
|  Eli Lilly & Co. | 1049 | 800387 |
|  Johnson & Johnson | 3180 | 589636 |
|  Merck & Co., Inc. | 3273 | 274703 |
|  Pfizer, Inc. | 7556 | 192527 |
|  Viatris, Inc. | 1643 | 16266 |
|  Zoetis, Inc. | 585 | 85597 |
|  |  | 2078360 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 6668009 |
|  **Industrials (1.9%)** |  |  |
|  ***Aerospace & Defense (0.5%)*** |  |  |
|  Axon Enterprise, Inc.\* | 104 | 74635 |
|  Boeing Co. (The)\* | 1002 | 216262 |
|  GE Aerospace | 1399 | 420847 |
|  General Dynamics Corp. | 331 | 112871 |
|  Howmet Aerospace, Inc. | 528 | 103609 |
|  Huntington Ingalls Industries, Inc. | 50 | 14395 |
|  L3Harris Technologies, Inc. | 242 | 73909 |
|  Lockheed Martin Corp. | 274 | 136784 |
|  Northrop Grumman Corp. | 177 | 107850 |
|  RTX Corp. | 1764 | 295170 |
|  Textron, Inc. | 212 | 17912 |
|  TransDigm Group, Inc. | 73 | 96215 |
|  |  | 1670459 |
|  ***Air Freight & Logistics (0.1%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 157 | 20787 |
|  Expeditors International of Washington, Inc. | 190 | 23292 |
|  FedEx Corp. | 281 | 66263 |
|  United Parcel Service, Inc., Class B | 980 | 81859 |
|  |  | 192201 |
|  ***Building Products (0.1%)*** |  |  |
|  A.O. Smith Corp. | 161 | 11819 |
|  Allegion plc | 122 | 21637 |
|  Builders FirstSource, Inc.\* | 132 | 16005 |
|  Carrier Global Corp. | 1039 | 62028 |
|  Johnson Controls International plc | 854 | 93897 |
|  Lennox International, Inc. | 44 | 23292 |
|  Masco Corp. | 296 | 20836 |
|  Trane Technologies plc | 291 | 122790 |
|  |  | 372304 |
|  ***Commercial Services & Supplies (0.1%)*** |  |  |
|  Cintas Corp. | 446 | 91546 |
|  Copart, Inc.\* | 1175 | 52840 |
|  Republic Services, Inc. | 261 | 59894 |
|  Rollins, Inc. | 376 | 22086 |
|  Veralto Corp. | 328 | 34968 |
|  Waste Management, Inc. | 483 | 106661 |
|  |  | 367995 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***Construction & Engineering (0.0%)†*** |  |  |
|  EMCOR Group, Inc. | 59 | $38323 |
|  Quanta Services, Inc. | 199 | 82469 |
|  |  | 120792 |
|  ***Electrical Equipment (0.2%)*** |  |  |
|  AMETEK, Inc. | 309 | 58092 |
|  Eaton Corp. plc | 516 | 193113 |
|  Emerson Electric Co. | 731 | 95893 |
|  GE Vernova, Inc. | 362 | 222594 |
|  Generac Holdings, Inc.\* | 79 | 13225 |
|  Hubbell, Inc., Class B | 72 | 30982 |
|  Rockwell Automation, Inc. | 152 | 53128 |
|  |  | 667027 |
|  ***Ground Transportation (0.2%)*** |  |  |
|  CSX Corp. | 2437 | 86538 |
|  JB Hunt Transport Services, Inc. | 110 | 14759 |
|  Norfolk Southern Corp. | 290 | 87119 |
|  Old Dominion Freight Line, Inc. | 228 | 32098 |
|  Uber Technologies, Inc.\* | 2747 | 269123 |
|  Union Pacific Corp. | 787 | 186023 |
|  |  | 675660 |
|  ***Industrial Conglomerates (0.1%)*** |  |  |
|  3M Co. | 706 | 109557 |
|  Honeywell International, Inc. | 834 | 175557 |
|  |  | 285114 |
|  ***Machinery (0.4%)*** |  |  |
|  Caterpillar, Inc. | 616 | 293925 |
|  Cummins, Inc. | 185 | 78139 |
|  Deere & Co. | 332 | 151810 |
|  Dover Corp. | 181 | 30196 |
|  Fortive Corp. | 457 | 22389 |
|  IDEX Corp. | 101 | 16439 |
|  Illinois Tool Works, Inc. | 345 | 89962 |
|  Ingersoll Rand, Inc. | 463 | 38253 |
|  Nordson Corp. | 73 | 16567 |
|  Otis Worldwide Corp. | 502 | 45898 |
|  PACCAR, Inc. | 704 | 69217 |
|  Parker-Hannifin Corp. | 167 | 126611 |
|  Pentair plc | 221 | 24478 |
|  Snap-on, Inc. | 71 | 24604 |
|  Stanley Black & Decker, Inc. | 207 | 15386 |
|  Westinghouse Air Brake Technologies Corp. | 228 | 45707 |
|  Xylem, Inc. | 326 | 48085 |
|  |  | 1137666 |
|  ***Passenger Airlines (0.0%)†*** |  |  |
|  Delta Air Lines, Inc. | 867 | 49202 |
|  Southwest Airlines Co. | 712 | 22720 |
|  United Airlines Holdings, Inc.\* | 438 | 42267 |
|  |  | 114189 |
|  ***Professional Services (0.1%)*** |  |  |
|  Automatic Data Processing, Inc. | 532 | 156142 |
|  Broadridge Financial Solutions, Inc. | 159 | 37869 |
|  Dayforce, Inc.\* | 195 | 13433 |
|  Equifax, Inc. | 166 | 42584 |
|  Jacobs Solutions, Inc. | 168 | 25176 |
|  Leidos Holdings, Inc. | 179 | 33824 |
|  Paychex, Inc. | 431 | 54634 |
|  Paycom Software, Inc. | 62 | 12905 |
|  Verisk Analytics, Inc. | 180 | 45272 |
|  |  | 421839 |
|  ***Trading Companies & Distributors (0.1%)*** |  |  |
|  Fastenal Co. | 1538 | 75424 |
|  United Rentals, Inc. | 84 | 80191 |
|  W.W. Grainger, Inc. | 57 | 54319 |
|  |  | 209934 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 6235180 |
|  **Information Technology (8.2%)** |  |  |
|  ***Communications Equipment (0.2%)*** |  |  |
|  Arista Networks, Inc.\* | 1355 | 197437 |
|  Cisco Systems, Inc. | 5225 | 357495 |
|  F5, Inc.\* | 80 | 25855 |
|  Motorola Solutions, Inc. | 218 | 99689 |
|  |  | 680476 |
|  ***Electronic Equipment, Instruments & Components (0.2%)*** |  |  |
|  Amphenol Corp., Class A | 1617 | 200104 |
|  CDW Corp. | 181 | 28830 |
|  Corning, Inc. | 1035 | 84901 |
|  Jabil, Inc. | 148 | 32141 |
|  Keysight Technologies, Inc.\* | 213 | 37258 |
|  TE Connectivity plc | 395 | 86714 |
|  Teledyne Technologies, Inc.\* | 64 | 37507 |
|  Trimble, Inc.\* | 328 | 26781 |
|  Zebra Technologies Corp., Class A\* | 68 | 20207 |
|  |  | 554443 |
|  ***IT Services (0.2%)*** |  |  |
|  Accenture plc, Class A | 818 | 201719 |
|  Akamai Technologies, Inc.\* | 163 | 12349 |
|  Cognizant Technology Solutions Corp., Class A | 666 | 44669 |
|  EPAM Systems, Inc.\* | 74 | 11158 |
|  Gartner, Inc.\* | 104 | 27338 |
|  GoDaddy, Inc., Class A\* | 190 | 25998 |
|  International Business Machines Corp. | 1222 | 344800 |
|  VeriSign, Inc. | 109 | 30473 |
|  |  | 698504 |
|  ***Semiconductors & Semiconductor Equipment (3.2%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 2151 | 348010 |
|  Analog Devices, Inc. | 647 | 158968 |
|  Applied Materials, Inc. | 1062 | 217434 |
|  Broadcom, Inc. | 6203 | 2046432 |
|  First Solar, Inc.\* | 143 | 31536 |
|  Intel Corp.\* | 5817 | 195160 |
|  KLA Corp. | 175 | 188755 |
|  Lam Research Corp. | 1653 | 221337 |
|  Microchip Technology, Inc. | 725 | 46559 |
|  Micron Technology, Inc. | 1465 | 245124 |
|  Monolithic Power Systems, Inc. | 65 | 59842 |
|  NVIDIA Corp. | 32180 | 6004144 |
|  NXP Semiconductors NV | 325 | 74012 |
|  ON Semiconductor Corp.\* | 504 | 24852 |
|  QUALCOMM, Inc. | 1424 | 236897 |
|  Skyworks Solutions, Inc. | 215 | 16551 |
|  Teradyne, Inc. | 193 | 26564 |
|  Texas Instruments, Inc. | 1190 | 218639 |
|  |  | 10360816 |
|  ***Software (2.7%)*** |  |  |
|  Adobe, Inc.\* | 554 | 195424 |
|  AppLovin Corp., Class A\* | 357 | 256519 |
|  Autodesk, Inc.\* | 281 | 89265 |
|  Cadence Design Systems, Inc.\* | 359 | 126102 |
|  Crowdstrike Holdings, Inc., Class A\* | 331 | 162316 |
|  Datadog, Inc., Class A\* | 415 | 59096 |
|  Fair Isaac Corp.\* | 31 | 46392 |
|  Fortinet, Inc.\* | 881 | 74075 |
|  Gen Digital, Inc. | 741 | 21037 |
|  Intuit, Inc. | 369 | 251994 |
|  Microsoft Corp. | 9804 | 5077982 |
|  Oracle Corp. | 2185 | 614509 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Palantir Technologies, Inc., Class A\* | 2998 | $546895 |
|  Palo Alto Networks, Inc.\* | 889 | 181018 |
|  PTC, Inc.\* | 159 | 32280 |
|  Roper Technologies, Inc. | 139 | 69318 |
|  Salesforce, Inc. | 1261 | 298857 |
|  ServiceNow, Inc.\* | 275 | 253077 |
|  Synopsys, Inc.\* | 242 | 119400 |
|  Tyler Technologies, Inc.\* | 57 | 29820 |
|  Workday, Inc., Class A\* | 278 | 66923 |
|  |  | 8572299 |
|  ***Technology Hardware, Storage & Peripherals (1.7%)*** |  |  |
|  Apple, Inc. | 19571 | 4983364 |
|  Dell Technologies, Inc., Class C | 399 | 56566 |
|  Hewlett Packard Enterprise Co. | 1750 | 42980 |
|  HP, Inc. | 1274 | 34691 |
|  NetApp, Inc. | 248 | 29378 |
|  Seagate Technology Holdings plc | 278 | 65625 |
|  Super Micro Computer, Inc.\* | 680 | 32599 |
|  Western Digital Corp. | 466 | 55948 |
|  |  | 5301151 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 26167689 |
|  **Materials (0.4%)** |  |  |
|  ***Chemicals (0.3%)*** |  |  |
|  Air Products and Chemicals, Inc. | 298 | 81271 |
|  Albemarle Corp.(x) | 150 | 12162 |
|  CF Industries Holdings, Inc. | 213 | 19106 |
|  Corteva, Inc. | 921 | 62287 |
|  Dow, Inc. | 945 | 21669 |
|  DuPont de Nemours, Inc. | 562 | 43780 |
|  Eastman Chemical Co. | 153 | 9647 |
|  Ecolab, Inc. | 341 | 93386 |
|  International Flavors & Fragrances, Inc. | 344 | 21170 |
|  Linde plc | 616 | 292600 |
|  LyondellBasell Industries NV, Class A | 347 | 17017 |
|  Mosaic Co. (The) | 408 | 14149 |
|  PPG Industries, Inc. | 286 | 30061 |
|  Sherwin-Williams Co. (The) | 311 | 107687 |
|  |  | 825992 |
|  ***Construction Materials (0.0%)†*** |  |  |
|  Martin Marietta Materials, Inc. | 77 | 48532 |
|  Vulcan Materials Co. | 178 | 54756 |
|  |  | 103288 |
|  ***Containers & Packaging (0.0%)†*** |  |  |
|  Amcor plc | 3103 | 25383 |
|  Avery Dennison Corp. | 109 | 17676 |
|  Ball Corp. | 356 | 17949 |
|  International Paper Co. | 698 | 32387 |
|  Packaging Corp. of America | 120 | 26152 |
|  Smurfit WestRock plc | 686 | 29203 |
|  |  | 148750 |
|  ***Metals & Mining (0.1%)*** |  |  |
|  Freeport-McMoRan, Inc. | 1929 | 75656 |
|  Newmont Corp. | 1433 | 120816 |
|  Nucor Corp. | 295 | 39952 |
|  Steel Dynamics, Inc. | 172 | 23982 |
|  |  | 260406 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 1338436 |
|  **Real Estate (0.5%)** |  |  |
|  ***Health Care REITs (0.1%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) | 211 | 17585 |
|  Healthpeak Properties, Inc. (REIT) | 945 | 18097 |
|  Ventas, Inc. (REIT) | 596 | 41714 |
|  Welltower, Inc. (REIT) | 876 | 156050 |
|  |  | 233446 |
|  ***Hotel & Resort REITs (0.0%)†*** |  |  |
|  Host Hotels & Resorts, Inc. (REIT) | 892 | 15182 |
|  ***Industrial REITs (0.0%)†*** |  |  |
|  Prologis, Inc. (REIT) | 1236 | 141547 |
|  ***Office REITs (0.0%)†*** |  |  |
|  BXP, Inc. (REIT) | 184 | 13679 |
|  ***Real Estate Management & Development (0.0%)†*** |  |  |
|  CBRE Group, Inc., Class A\* | 396 | 62394 |
|  CoStar Group, Inc.\* | 575 | 48512 |
|  |  | 110906 |
|  ***Residential REITs (0.1%)*** |  |  |
|  AvalonBay Communities, Inc. (REIT) | 191 | 36895 |
|  Camden Property Trust (REIT) | 143 | 15269 |
|  Equity Residential (REIT) | 463 | 29970 |
|  Essex Property Trust, Inc. (REIT) | 86 | 23019 |
|  Invitation Homes, Inc. (REIT) | 769 | 22555 |
|  Mid-America Apartment Communities, Inc. (REIT) | 157 | 21938 |
|  UDR, Inc. (REIT) | 406 | 15128 |
|  |  | 164774 |
|  ***Retail REITs (0.1%)*** |  |  |
|  Federal Realty Investment Trust (REIT) | 95 | 9624 |
|  Kimco Realty Corp. (REIT) | 902 | 19709 |
|  Realty Income Corp. (REIT) | 1186 | 72097 |
|  Regency Centers Corp. (REIT) | 220 | 16038 |
|  Simon Property Group, Inc. (REIT) | 432 | 81073 |
|  |  | 198541 |
|  ***Specialized REITs (0.2%)*** |  |  |
|  American Tower Corp. (REIT) | 626 | 120392 |
|  Crown Castle, Inc. (REIT) | 584 | 56350 |
|  Digital Realty Trust, Inc. (REIT) | 411 | 71054 |
|  Equinix, Inc. (REIT) | 131 | 102605 |
|  Extra Space Storage, Inc. (REIT) | 285 | 40168 |
|  Iron Mountain, Inc. (REIT) | 394 | 40164 |
|  Public Storage (REIT) | 201 | 58059 |
|  SBA Communications Corp. (REIT) | 144 | 27842 |
|  VICI Properties, Inc. (REIT), Class A | 1400 | 45654 |
|  Weyerhaeuser Co. (REIT) | 980 | 24294 |
|  |  | 586582 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 1464657 |
|  **Utilities (0.5%)** |  |  |
|  ***Electric Utilities (0.4%)*** |  |  |
|  Alliant Energy Corp. | 344 | 23189 |
|  American Electric Power Co., Inc. | 692 | 77850 |
|  Constellation Energy Corp. | 411 | 135248 |
|  Duke Energy Corp. | 1023 | 126596 |
|  Edison International | 518 | 28635 |
|  Entergy Corp. | 569 | 53025 |
|  Evergy, Inc. | 309 | 23490 |
|  Eversource Energy | 504 | 35855 |
|  Exelon Corp. | 1294 | 58243 |
|  FirstEnergy Corp. | 695 | 31845 |
|  NextEra Energy, Inc. | 2699 | 203748 |
|  NRG Energy, Inc. | 258 | 41783 |
|  PG&E Corp. | 3003 | 45285 |
|  Pinnacle West Capital Corp. | 153 | 13718 |
|  PPL Corp.(x) | 993 | 36900 |
|  Southern Co. (The) | 1447 | 137132 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Xcel Energy, Inc. | 768 | $61939 |
|  |  | 1134481 |
|  ***Gas Utilities (0.0%)†*** |  |  |
|  Atmos Energy Corp. | 214 | 36540 |
|  ***Independent Power and Renewable Electricity Producers (0.0%)†*** |  |  |
|  AES Corp. (The) | 896 | 11791 |
|  Vistra Corp. | 420 | 82287 |
|  |  | 94078 |
|  ***Multi-Utilities (0.1%)*** |  |  |
|  Ameren Corp. | 337 | 35176 |
|  CenterPoint Energy, Inc. | 918 | 35619 |
|  CMS Energy Corp. | 370 | 27106 |
|  Consolidated Edison, Inc. | 465 | 46742 |
|  Dominion Energy, Inc. | 1125 | 68816 |
|  DTE Energy Co. | 275 | 38893 |
|  NiSource, Inc. | 666 | 28838 |
|  Public Service Enterprise Group, Inc. | 666 | 55584 |
|  Sempra | 850 | 76483 |
|  WEC Energy Group, Inc. | 425 | 48701 |
|  |  | 461958 |
|  ***Water Utilities (0.0%)†*** |  |  |
|  American Water Works Co., Inc. | 260 | 36189 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 1763246 |
|  **Total Common Stocks (23.5%)**<br> *(Cost $36,085,626)* |  | 75229837 |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (33.0%)** |  |  |
|  iShares Core MSCI EAFE ETF | 910500 | 79495755 |
|  iShares Core S&P Mid-Cap ETF | 195370 | 12749847 |
|  iShares Russell 2000 ETF(x) | 55773 | 13494835 |
|  **Total Exchange Traded Funds (33.0%)<br>(***Cost $72,000,028)* |  | 105740437 |
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **U.S. Treasury Obligations (42.1%)** |  |  |
|  U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/27 | $2020700 | 1980315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 10/31/27 | 5051200 | 4738827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 7/31/28 | 10131900 | 9421453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 8/15/28 | 15503300 | 15186585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 9/30/28 | 13609800 | 12696265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 10/31/28 | 11742000 | 10975058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 8/31/29 | 9313000 | 9124234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 9/30/29 | 9250800 | 9315579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 8/15/30 | 23645000 | 20388961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 2/15/31 | 10529300 | 9202852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 5/15/31 | 16313500 | 14529571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/15/32 | 19320500 | 17141907 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 134701607 |
|  **Total Long-Term Debt Securities (42.1%)**<br> *(Cost $132,379,565)* |  | 134701607 |
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.1%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 15419 | 15419 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 183726 | 183800 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 199219 |
|  **Total Short-Term Investments (0.1%)**<br> *(Cost $199,219)* |  | 199219 |
|  **Total Investments in Securities (98.7%)**<br> *(Cost $240,664,438)* |  | 315871100 |
|  **Other Assets Less Liabilities (1.3%)** |  | 4195165 |
|  **Net Assets (100%)** |  | $320066265 |

---

*\** *Non-income producing.* 

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

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $12,112,957. This was collateralized by $12,344,559 of various U.S. Government Treasury Securities, ranging from 0.125% – 5.375%,maturing 7/15/26 – 2/15/55 and by cash of $15,419 which was subsequently invested in investment companies.* 

*Glossary:* 

*REIT—Real Estate Investment Trust* 

*USD—United States Dollar* 

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br>**Contracts** | **Expiration**<br>**Date** | **Trading**<br>**Currency** | **Notional**<br>**Amount ($)** | **Value and**<br>**Unrealized**<br>**Appreciation**<br>**(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  S&P 500 Micro E-Mini Index | 9 | 12/2025 | USD | 303244 | 2691 |
|  |  |  |  |  | 2691 |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active**<br>**Markets for Identical**<br>**Securities** | **Level 2**<br>**Significant Other**<br>**Observable Inputs**<br>**(including quoted prices**<br>**for similar securities,**<br>**interest rates,**<br>**prepayment speeds,**<br>**credit risk, etc.)** | **Level 3**<br>**Significant Unobservable**<br>**Inputs (including the**<br>**Portfolio's own**<br>**assumptions in**<br>**determining the fair**<br>**value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $7628841 | $— | $— | $7628841 |
|  Consumer Discretionary | 7915177 |  |  | 7915177 |
|  Consumer Staples | 3691973 |  |  | 3691973 |
|  Energy | 2172650 |  |  | 2172650 |
|  Financials | 10183979 |  |  | 10183979 |
|  Health Care | 6668009 |  |  | 6668009 |
|  Industrials | 6235180 |  |  | 6235180 |
|  Information Technology | 26167689 |  |  | 26167689 |
|  Materials | 1338436 |  |  | 1338436 |
|  Real Estate | 1464657 |  |  | 1464657 |
|  Utilities | 1763246 |  |  | 1763246 |
|  **Exchange Traded Funds** | 105740437 |  |  | 105740437 |
|  **Futures** | 2691 |  |  | 2691 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 199219 |  |  | 199219 |
|  **U.S. Treasury Obligations** |  | 134701607 |  | 134701607 |
|  **Total Assets** | $**181172184** | $**134701607** | $**—** | $**315873791** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**181172184** | $**134701607** | $**—** | $**315873791** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $77871019 |
|  Aggregate gross unrealized depreciation | (2728885) |
|  Net unrealized appreciation | $75142134 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $240731657 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/FRANKLIN RISING DIVIDENDS PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Consumer Discretionary (6.8%)** |  |  |
|  ***Hotels, Restaurants & Leisure (2.0%)*** |  |  |
|  McDonald's Corp. | 23009 | $6992205 |
|  ***Household Durables (0.7%)*** |  |  |
|  DR Horton, Inc. | 14461 | 2450706 |
|  ***Specialty Retail (3.7%)*** |  |  |
|  Lowe's Cos., Inc. | 25310 | 6360656 |
|  Ross Stores, Inc. | 33853 | 5158859 |
|  Tractor Supply Co. | 33042 | 1879098 |
|  |  | 13398613 |
|  ***Textiles, Apparel & Luxury Goods (0.4%)*** |  |  |
|  NIKE, Inc., Class B | 22769 | 1587683 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 24429207 |
|  **Consumer Staples (7.8%)** |  |  |
|  ***Beverages (1.2%)*** |  |  |
|  PepsiCo, Inc. | 30756 | 4319373 |
|  ***Consumer Staples Distribution & Retail (3.7%)*** |  |  |
|  Casey's General Stores, Inc. | 6326 | 3576214 |
|  Walmart, Inc. | 94775 | 9767512 |
|  |  | 13343726 |
|  ***Food Products (0.7%)*** |  |  |
|  McCormick & Co., Inc. (Non- Voting) | 34263 | 2292537 |
|  ***Household Products (2.2%)*** |  |  |
|  Colgate-Palmolive Co. | 28096 | 2245994 |
|  Procter & Gamble Co. (The) | 37351 | 5738981 |
|  |  | 7984975 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 27940611 |
|  **Energy (2.6%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (2.6%)*** |  |  |
|  Chevron Corp. | 27932 | 4337560 |
|  EOG Resources, Inc. | 18469 | 2070744 |
|  Exxon Mobil Corp. | 26913 | 3034441 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 9442745 |
|  **Financials (15.2%)** |  |  |
|  ***Banks (3.1%)*** |  |  |
|  JPMorgan Chase & Co. | 35667 | 11250442 |
|  ***Capital Markets (7.4%)*** |  |  |
|  Ares Management Corp., Class A | 26191 | 4187679 |
|  Charles Schwab Corp. (The) | 70833 | 6762426 |
|  Morgan Stanley | 51330 | 8159417 |
|  Nasdaq, Inc. | 82344 | 7283327 |
|  |  | 26392849 |
|  ***Financial Services (3.2%)*** |  |  |
|  Visa, Inc., Class A | 33274 | 11359078 |
|  ***Insurance (1.5%)*** |  |  |
|  Erie Indemnity Co., Class A | 7592 | 2415471 |
|  Marsh & McLennan Cos., Inc. | 15367 | 3096911 |
|  |  | 5512382 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 54514751 |
|  **Health Care (13.5%)** |  |  |
|  ***Biotechnology (1.7%)*** |  |  |
|  AbbVie, Inc. | 26442 | 6122380 |
|  ***Health Care Equipment & Supplies (6.6%)*** |  |  |
|  Abbott Laboratories | 56936 | 7626008 |
|  Becton Dickinson & Co. | 18047 | 3377857 |
|  STERIS plc | 13543 | 3351080 |
|  Stryker Corp. | 24924 | 9213655 |
|  |  | 23568600 |
|  ***Life Sciences Tools & Services (1.7%)*** |  |  |
|  Danaher Corp. | 15762 | 3124974 |
|  West Pharmaceutical Services, Inc. | 10787 | 2829754 |
|  |  | 5954728 |
|  ***Pharmaceuticals (3.5%)*** |  |  |
|  Eli Lilly & Co. | 7739 | 5904857 |
|  Johnson & Johnson | 35702 | 6619865 |
|  |  | 12524722 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 48170430 |
|  **Industrials (14.4%)** |  |  |
|  ***Aerospace & Defense (4.0%)*** |  |  |
|  General Dynamics Corp. | 18170 | 6195970 |
|  RTX Corp. | 49432 | 8271456 |
|  |  | 14467426 |
|  ***Building Products (2.9%)*** |  |  |
|  Carlisle Cos., Inc. | 11634 | 3827121 |
|  Johnson Controls International plc | 58712 | 6455384 |
|  |  | 10282505 |
|  ***Commercial Services & Supplies (1.5%)*** |  |  |
|  Cintas Corp. | 25914 | 5319108 |
|  ***Electrical Equipment (1.9%)*** |  |  |
|  nVent Electric plc | 67684 | 6676350 |
|  ***Industrial Conglomerates (1.6%)*** |  |  |
|  Honeywell International, Inc. | 26450 | 5567725 |
|  ***Machinery (1.2%)*** |  |  |
|  Parker-Hannifin Corp. | 5631 | 4269143 |
|  ***Trading Companies & Distributors (1.3%)*** |  |  |
|  W.W. Grainger, Inc. | 5025 | 4788624 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 51370881 |
|  **Information Technology (31.2%)** |  |  |
|  ***IT Services (1.7%)*** |  |  |
|  Accenture plc, Class A | 25116 | 6193606 |
|  ***Semiconductors & Semiconductor Equipment (10.6%)*** |  |  |
|  Analog Devices, Inc. | 28252 | 6941516 |
|  Applied Materials, Inc. | 16933 | 3466862 |
|  Broadcom, Inc. | 57628 | 19012054 |
|  Texas Instruments, Inc. | 46762 | 8591582 |
|  |  | 38012014 |
|  ***Software (15.3%)*** |  |  |
|  Microsoft Corp. | 64895 | 33612365 |
|  Oracle Corp. | 46874 | 13182844 |
|  Roper Technologies, Inc. | 15850 | 7904236 |
|  |  | 54699445 |
|  ***Technology Hardware, Storage & Peripherals (3.6%)*** |  |  |
|  Apple, Inc. | 49655 | 12643653 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 111548718 |
|  **Materials (6.0%)** |  |  |
|  ***Chemicals (6.0%)*** |  |  |
|  Air Products and Chemicals, Inc. | 14324 | 3906441 |
|  Ecolab, Inc. | 16702 | 4574010 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/FRANKLIN RISING DIVIDENDS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Linde plc | 21519 | $10221525 |
|  Sherwin-Williams Co. (The) | 8065 | 2792587 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 21494563 |
|  **Utilities (1.0%)** |  |  |
|  ***Electric Utilities (1.0%)*** |  |  |
|  NextEra Energy, Inc. | 46143 | 3483335 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 3483335 |
|  **Total Common Stocks (98.5%)**<br> *(Cost $202,028,190)* |  | 352395241 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.4%)** |  |  |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 1437257 | 1437832 |
|  **Total Short-Term Investments (0.4%)**<br> *(Cost $1,437,793)* |  | 1437832 |
|  **Total Investments in Securities (98.9%)**<br> *(Cost $203,465,983)* |  | 353833073 |
|  **Other Assets Less Liabilities (1.1%)** |  | 4063939 |
|  **Net Assets (100%)** |  | $357897012 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN RISING DIVIDENDS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Consumer Discretionary | $24429207 | $— | $— | $24429207 |
|  Consumer Staples | 27940611 |  |  | 27940611 |
|  Energy | 9442745 |  |  | 9442745 |
|  Financials | 54514751 |  |  | 54514751 |
|  Health Care | 48170430 |  |  | 48170430 |
|  Industrials | 51370881 |  |  | 51370881 |
|  Information Technology | 111548718 |  |  | 111548718 |
|  Materials | 21494563 |  |  | 21494563 |
|  Utilities | 3483335 |  |  | 3483335 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 1437832 |  |  | 1437832 |
|  **Total Assets** | $**353833073** | $**—** | $**—** | $**353833073** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**353833073** | $**—** | $**—** | $**353833073** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $152869535 |
|  Aggregate gross unrealized depreciation | (2512959) |
|  Net unrealized appreciation | $150356576 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $203476497 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (1.1%)** |  |  |
|  ***Diversified Telecommunication Services (0.2%)*** |  |  |
|  Anterix, Inc.\* | 415 | $8910 |
|  ATN International, Inc. | 332 | 4970 |
|  Bandwidth, Inc., Class A\* | 960 | 16003 |
|  Cogent Communications Holdings, Inc. | 1597 | 61245 |
|  Globalstar, Inc.(x)\* | 1823 | 66339 |
|  IDT Corp., Class B | 570 | 29817 |
|  Liberty Latin America Ltd., Class A\* | 663 | 5496 |
|  Liberty Latin America Ltd., Class C\* | 4599 | 38816 |
|  Lumen Technologies, Inc.\* | 33379 | 204280 |
|  Shenandoah Telecommunications Co. | 1694 | 22733 |
|  Uniti Group, Inc.(x) | 5308 | 32485 |
|  |  | 491094 |
|  ***Entertainment (0.2%)*** |  |  |
|  AMC Entertainment Holdings, Inc., Class A(x)\* | 14545 | 42181 |
|  Atlanta Braves Holdings, Inc., Class A\* | 206 | 9367 |
|  Atlanta Braves Holdings, Inc., Class C\* | 1534 | 63799 |
|  Cinemark Holdings, Inc. | 3615 | 101292 |
|  CuriosityStream, Inc. | 1093 | 5793 |
|  Eventbrite, Inc., Class A\* | 3272 | 8245 |
|  Gaia, Inc., Class A\* | 957 | 5665 |
|  Golden Matrix Group, Inc.(x)\* | 1009 | 1140 |
|  IMAX Corp.\* | 1599 | 52367 |
|  Lionsgate Studios Corp.\* | 6682 | 46106 |
|  Madison Square Garden Entertainment Corp., Class A\* | 1427 | 64558 |
|  Marcus Corp. (The) | 697 | 10811 |
|  Playstudios, Inc.\* | 3467 | 3337 |
|  Playtika Holding Corp. | 1997 | 7768 |
|  Reservoir Media, Inc.\* | 816 | 6642 |
|  Sphere Entertainment Co.(x)\* | 955 | 59325 |
|  Starz Entertainment Corp. | 487 | 7174 |
|  Vivid Seats, Inc., Class A\* | 148 | 2460 |
|  |  | 498030 |
|  ***Interactive Media & Services (0.2%)*** |  |  |
|  Angi, Inc., Class A\* | 1534 | 24943 |
|  Arena Group Holdings, Inc. (The)\* | 758 | 4146 |
|  Bumble, Inc., Class A\* | 2807 | 17095 |
|  Cargurus, Inc., Class A\* | 2947 | 109717 |
|  Cars.com, Inc.\* | 2045 | 24990 |
|  EverQuote, Inc., Class A\* | 959 | 21932 |
|  fuboTV, Inc.(x)\* | 11903 | 49397 |
|  Getty Images Holdings, Inc.(x)\* | 4250 | 8415 |
|  Grindr, Inc.\* | 1206 | 18114 |
|  MediaAlpha, Inc., Class A\* | 1235 | 14054 |
|  Nextdoor Holdings, Inc.\* | 7332 | 15324 |
|  QuinStreet, Inc.\* | 1908 | 29517 |
|  Rumble, Inc.(x)\* | 3527 | 25536 |
|  Shutterstock, Inc. | 936 | 19516 |
|  Teads Holding Co.\* | 1596 | 2633 |
|  Travelzoo\* | 356 | 3500 |
|  TripAdvisor, Inc.\* | 4178 | 67934 |
|  TrueCar, Inc.\* | 3824 | 7036 |
|  Vimeo, Inc.\* | 5513 | 42726 |
|  Webtoon Entertainment, Inc.(x)\* | 617 | 11976 |
|  Yelp, Inc., Class A\* | 2006 | 62587 |
|  Ziff Davis, Inc.\* | 1510 | 57531 |
|  ZipRecruiter, Inc., Class A\* | 2224 | 9385 |
|  |  | 648004 |
|  ***Media (0.4%)*** |  |  |
|  Advantage Solutions, Inc.\* | 4429 | 6776 |
|  Altice USA, Inc., Class A\* | 9381 | 22608 |
|  AMC Networks, Inc., Class A\* | 1313 | 10819 |
|  Boston Omaha Corp., Class A(x)\* | 657 | 8594 |
|  Cable One, Inc. | 171 | 30276 |
|  EchoStar Corp., Class A(x)\* | 4766 | 363932 |
|  Emerald Holding, Inc. | 687 | 3497 |
|  Entravision Communications Corp., Class A | 2600 | 6058 |
|  EW Scripps Co. (The), Class A\* | 2577 | 6339 |
|  Gambling.com Group Ltd.\* | 684 | 5595 |
|  Gannett Co., Inc.\* | 5210 | 21517 |
|  Gray Media, Inc. | 3418 | 19756 |
|  Ibotta, Inc., Class A\* | 463 | 12895 |
|  iHeartMedia, Inc., Class A\* | 4455 | 12786 |
|  Integral Ad Science Holding Corp.\* | 2865 | 29137 |
|  John Wiley & Sons, Inc., Class A | 1435 | 58074 |
|  Magnite, Inc.\* | 4848 | 105589 |
|  National CineMedia, Inc. | 2760 | 12448 |
|  Newsmax, Inc., Class B\* | 356 | 4414 |
|  Nexxen International Ltd.\* | 1334 | 12340 |
|  PubMatic, Inc., Class A\* | 1391 | 11518 |
|  Scholastic Corp. | 762 | 20864 |
|  Sinclair, Inc. | 1482 | 22378 |
|  Stagwell, Inc., Class A(x)\* | 4253 | 23944 |
|  TechTarget, Inc.\* | 1069 | 6211 |
|  TEGNA, Inc. | 5683 | 115535 |
|  Thryv Holdings, Inc.\* | 1291 | 15569 |
|  WideOpenWest, Inc.\* | 1574 | 8122 |
|  |  | 977591 |
|  ***Wireless Telecommunication Services (0.1%)*** |  |  |
|  Gogo, Inc.\* | 2873 | 24679 |
|  Spok Holdings, Inc. | 601 | 10367 |
|  Telephone and Data Systems, Inc. | 3466 | 136006 |
|  |  | 171052 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 2785771 |
|  **Consumer Discretionary (10.4%)** |  |  |
|  ***Automobile Components (0.5%)*** |  |  |
|  Adient plc\* | 2942 | 70843 |
|  American Axle & Manufacturing Holdings, Inc.\* | 4074 | 24485 |
|  Cooper-Standard Holdings, Inc.\* | 597 | 22047 |
|  Dana, Inc. | 4766 | 95511 |
|  Dorman Products, Inc.\* | 970 | 151204 |
|  Fox Factory Holding Corp.\* | 1564 | 37990 |
|  Garrett Motion, Inc. | 4567 | 62202 |
|  Gentherm, Inc.\* | 1042 | 35490 |
|  Goodyear Tire & Rubber Co. (The)\* | 9448 | 70671 |
|  Holley, Inc.\* | 2154 | 6764 |
|  LCI Industries | 846 | 78805 |
|  Luminar Technologies, Inc., Class A(x)\* | 955 | 1824 |
|  Modine Manufacturing Co.\* | 1844 | 262143 |
|  Motorcar Parts of America, Inc.\* | 328 | 5425 |
|  Patrick Industries, Inc.(x) | 1142 | 118117 |
|  Phinia, Inc. | 1318 | 75759 |
|  Solid Power, Inc.\* | 4906 | 17024 |
|  Standard Motor Products, Inc. | 801 | 32697 |
|  Strattec Security Corp.\* | 139 | 9460 |
|  Visteon Corp. | 948 | 113627 |
|  XPEL, Inc.(m)\* | 848 | 28043 |
|  |  | 1320131 |
|  ***Automobiles (0.0%)†*** |  |  |
|  Faraday Future Intelligent Electric, Inc., Class A(x)\* | 3214 | 4178 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Livewire Group, Inc.(x)\* | 1343 | $6379 |
|  Winnebago Industries, Inc. | 953 | 31869 |
|  |  | 42426 |
|  ***Broadline Retail (0.0%)†*** |  |  |
|  Groupon, Inc.(x)\* | 833 | 19450 |
|  Kohl's Corp. | 3907 | 60051 |
|  Savers Value Village, Inc.\* | 1272 | 16854 |
|  |  | 96355 |
|  ***Distributors (0.0%)†*** |  |  |
|  A-Mark Precious Metals, Inc. | 651 | 16841 |
|  GigaCloud Technology, Inc., Class A\* | 914 | 25958 |
|  Weyco Group, Inc. | 214 | 6439 |
|  |  | 49238 |
|  ***Diversified Consumer Services (0.6%)*** |  |  |
|  Adtalem Global Education, Inc.\* | 1244 | 192136 |
|  American Public Education, Inc.\* | 558 | 22024 |
|  Carriage Services, Inc., Class A | 455 | 20266 |
|  Coursera, Inc.\* | 4953 | 58000 |
|  European Wax Center, Inc., Class A\* | 1381 | 5510 |
|  Frontdoor, Inc.\* | 2591 | 174348 |
|  Graham Holdings Co., Class B | 114 | 134213 |
|  KinderCare Learning Cos., Inc.\* | 992 | 6587 |
|  Laureate Education, Inc.\* | 4584 | 144579 |
|  Lincoln Educational Services Corp.\* | 1116 | 26226 |
|  Matthews International Corp., Class A | 1018 | 24717 |
|  McGraw Hill, Inc.\* | 613 | 7693 |
|  Mister Car Wash, Inc.\* | 3325 | 17722 |
|  Nerdy, Inc.(x)\* | 2323 | 2927 |
|  OneSpaWorld Holdings Ltd. | 3439 | 72701 |
|  Perdoceo Education Corp. | 2192 | 82551 |
|  Strategic Education, Inc. | 783 | 67346 |
|  Stride, Inc.\* | 1503 | 223857 |
|  Udemy, Inc.\* | 3505 | 24570 |
|  Universal Technical Institute, Inc.\* | 1700 | 55335 |
|  |  | 1363308 |
|  ***Hotels, Restaurants & Leisure (2.4%)*** |  |  |
|  Accel Entertainment, Inc., Class A\* | 2028 | 22450 |
|  Bally's Corp.\* | 456 | 5062 |
|  Biglari Holdings, Inc., Class B\* | 32 | 10357 |
|  BJ's Restaurants, Inc.\* | 767 | 23417 |
|  Bloomin' Brands, Inc. | 2833 | 20313 |
|  Boyd Gaming Corp. | 19439 | 1680502 |
|  Brightstar Lottery plc(x) | 3759 | 64843 |
|  Brinker International, Inc.\* | 1556 | 197114 |
|  Cheesecake Factory, Inc. (The)(x) | 1582 | 86440 |
|  Cracker Barrel Old Country Store, Inc.(x) | 18875 | 831632 |
|  Dave & Buster's Entertainment, Inc.(x)\* | 978 | 17760 |
|  Denny's Corp.\* | 1963 | 10266 |
|  Dine Brands Global, Inc. | 579 | 14313 |
|  El Pollo Loco Holdings, Inc.\* | 919 | 8914 |
|  First Watch Restaurant Group, Inc.\* | 1363 | 21317 |
|  Genius Sports Ltd.\* | 7528 | 93197 |
|  Global Business Travel Group I\* | 3330 | 26906 |
|  Golden Entertainment, Inc. | 658 | 15516 |
|  Hilton Grand Vacations, Inc.\* | 29807 | 1246231 |
|  Inspired Entertainment, Inc.\* | 947 | 8883 |
|  Jack in the Box, Inc.(x) | 695 | 13740 |
|  Krispy Kreme, Inc. | 3312 | 12817 |
|  Kura Sushi USA, Inc., Class A\* | 238 | 14140 |
|  Life Time Group Holdings, Inc.\* | 4728 | 130493 |
|  Lindblad Expeditions Holdings, Inc.\* | 1444 | 18483 |
|  Marriott Vacations Worldwide Corp. | 915 | 60902 |
|  Monarch Casino & Resort, Inc. | 452 | 47840 |
|  Nathan's Famous, Inc. | 92 | 10188 |
|  Papa John's International, Inc. | 1142 | 54987 |
|  Portillo's, Inc., Class A(x)\* | 2083 | 13435 |
|  Potbelly Corp.\* | 769 | 13104 |
|  Pursuit Attractions and Hospitality, Inc.\* | 810 | 29306 |
|  RCI Hospitality Holdings, Inc. | 251 | 7658 |
|  Red Rock Resorts, Inc., Class A | 1702 | 103924 |
|  Rush Street Interactive, Inc.\* | 3186 | 65249 |
|  Sabre Corp.(x)\* | 12775 | 23378 |
|  Serve Robotics, Inc.(x)\* | 1679 | 19527 |
|  Shake Shack, Inc., Class A\* | 1352 | 126561 |
|  Six Flags Entertainment Corp.\* | 3462 | 78657 |
|  Super Group SGHC Ltd. | 5727 | 75596 |
|  Sweetgreen, Inc., Class A(x)\* | 3690 | 29446 |
|  Target Hospitality Corp.\* | 1297 | 10999 |
|  United Parks & Resorts, Inc.(x)\* | 975 | 50407 |
|  Wyndham Hotels & Resorts, Inc. | 7109 | 568009 |
|  Xponential Fitness, Inc., Class A\* | 944 | 7354 |
|  |  | 5991633 |
|  ***Household Durables (1.8%)*** |  |  |
|  Bassett Furniture Industries, Inc. | 314 | 4911 |
|  Beazer Homes USA, Inc.\* | 1005 | 24673 |
|  Cavco Industries, Inc.\* | 270 | 156797 |
|  Century Communities, Inc. | 4684 | 296825 |
|  Champion Homes, Inc.\* | 2023 | 154496 |
|  Cricut, Inc., Class A | 1863 | 11718 |
|  Dream Finders Homes, Inc., Class A(x)\* | 1007 | 26101 |
|  Ethan Allen Interiors, Inc. | 861 | 25365 |
|  Flexsteel Industries, Inc. | 181 | 8389 |
|  Green Brick Partners, Inc.\* | 1080 | 79769 |
|  Hamilton Beach Brands Holding Co., Class A | 321 | 4613 |
|  Helen of Troy Ltd.\* | 816 | 20563 |
|  Hovnanian Enterprises, Inc., Class A\* | 158 | 20301 |
|  Installed Building Products, Inc. | 819 | 202015 |
|  KB Home | 2343 | 149109 |
|  La-Z-Boy, Inc. | 29630 | 1016902 |
|  Legacy Housing Corp.\* | 385 | 10591 |
|  Leggett & Platt, Inc. | 4770 | 42358 |
|  LGI Homes, Inc.\* | 656 | 33922 |
|  Lovesac Co. (The)(x)\* | 553 | 9362 |
|  M/I Homes, Inc.\* | 4357 | 629325 |
|  Meritage Homes Corp. | 7489 | 542428 |
|  Sonos, Inc.\* | 4221 | 66692 |
|  Taylor Morrison Home Corp., Class A\* | 10912 | 720301 |
|  Traeger, Inc.\* | 1512 | 1845 |
|  Tri Pointe Homes, Inc.\* | 3002 | 101978 |
|  |  | 4361349 |
|  ***Leisure Products (1.9%)*** |  |  |
|  Acushnet Holdings Corp. | 908 | 71269 |
|  American Outdoor Brands, Inc.\* | 412 | 3576 |
|  BRP, Inc. | 8528 | 518531 |
|  Brunswick Corp. | 19639 | 1241970 |
|  Escalade, Inc. | 438 | 5506 |
|  Funko, Inc., Class A\* | 1271 | 4372 |
|  JAKKS Pacific, Inc. | 318 | 5956 |
|  Johnson Outdoors, Inc., Class A | 80 | 3231 |
|  Latham Group, Inc.\* | 1677 | 12762 |
|  Malibu Boats, Inc., Class A\* | 654 | 21222 |
|  Marine Products Corp. | 412 | 3655 |
|  MasterCraft Boat Holdings, Inc.\* | 524 | 11245 |
|  Mattel, Inc.\* | 141122 | 2375083 |
|  Outdoor Holding Co.\* | 2920 | 4322 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Peloton Interactive, Inc., Class A\* | 13535 | $121815 |
|  Polaris, Inc. | 1842 | 107076 |
|  Smith & Wesson Brands, Inc. | 1482 | 14568 |
|  Sturm Ruger & Co., Inc. | 581 | 25256 |
|  Topgolf Callaway Brands Corp.\* | 4382 | 41629 |
|  |  | 4593044 |
|  ***Specialty Retail (2.2%)*** |  |  |
|  Abercrombie & Fitch Co., Class A\* | 1641 | 140388 |
|  Academy Sports & Outdoors, Inc. | 2379 | 118998 |
|  Advance Auto Parts, Inc.(x) | 2092 | 128449 |
|  American Eagle Outfitters, Inc.(x) | 5838 | 99888 |
|  America's Car-Mart, Inc.\* | 253 | 7390 |
|  Arhaus, Inc., Class A\* | 1977 | 21016 |
|  Arko Corp. | 2238 | 10228 |
|  Asbury Automotive Group, Inc.\* | 682 | 166715 |
|  BARK, Inc.\* | 5208 | 4327 |
|  Barnes & Noble Education, Inc.\* | 522 | 5194 |
|  Bath & Body Works, Inc. | 5032 | 129624 |
|  Bed Bath & Beyond, Inc.(x)\* | 1836 | 17974 |
|  Boot Barn Holdings, Inc.\* | 1073 | 177818 |
|  Buckle, Inc. (The) | 1091 | 63998 |
|  Build-A-Bear Workshop, Inc.(x) | 457 | 29801 |
|  Caleres, Inc. | 1151 | 15009 |
|  Camping World Holdings, Inc., Class A | 2189 | 34564 |
|  Citi Trends, Inc.\* | 112 | 3475 |
|  Designer Brands, Inc., Class A(x) | 571 | 2021 |
|  Envela Corp.\* | 662 | 5170 |
|  EVgo, Inc., Class A\* | 4366 | 20651 |
|  Gap, Inc. (The) | 119110 | 2547763 |
|  Genesco, Inc.\* | 291 | 8436 |
|  Group 1 Automotive, Inc. | 1895 | 829081 |
|  Haverty Furniture Cos., Inc. | 558 | 12237 |
|  J Jill, Inc. | 200 | 3430 |
|  Lands' End, Inc.\* | 366 | 5161 |
|  MarineMax, Inc.(x)\* | 764 | 19352 |
|  Monro, Inc. | 917 | 16478 |
|  National Vision Holdings, Inc.\* | 2826 | 82491 |
|  ODP Corp. (The)\* | 1030 | 28686 |
|  OneWater Marine, Inc., Class A\* | 475 | 7524 |
|  Petco Health & Wellness Co., Inc., Class A(x)\* | 2284 | 8839 |
|  RealReal, Inc. (The)(x)\* | 3235 | 34388 |
|  Revolve Group, Inc., Class A\* | 1368 | 29138 |
|  Sally Beauty Holdings, Inc.\* | 3624 | 58999 |
|  Shoe Carnival, Inc. | 689 | 14324 |
|  Signet Jewelers Ltd. | 1398 | 134096 |
|  Sleep Number Corp.(x)\* | 878 | 6164 |
|  Sonic Automotive, Inc., Class A | 537 | 40860 |
|  Stitch Fix, Inc., Class A\* | 3918 | 17043 |
|  ThredUp, Inc., Class A\* | 3255 | 30760 |
|  Tile Shop Holdings, Inc.\* | 1175 | 7109 |
|  Torrid Holdings, Inc.(x)\* | 861 | 1507 |
|  Upbound Group, Inc. | 1826 | 43148 |
|  Urban Outfitters, Inc.\* | 2142 | 153003 |
|  Victoria's Secret & Co.\* | 2468 | 66982 |
|  Warby Parker, Inc., Class A\* | 3544 | 97744 |
|  Winmark Corp. | 107 | 53261 |
|  Zumiez, Inc.\* | 403 | 7903 |
|  |  | 5568605 |
|  ***Textiles, Apparel & Luxury Goods (1.0%)*** |  |  |
|  Capri Holdings Ltd.\* | 4168 | 83027 |
|  Carter's, Inc.(x) | 1268 | 35783 |
|  Crocs, Inc.\* | 8122 | 678593 |
|  Dr Martens plc | 878826 | 1174250 |
|  Ermenegildo Zegna NV(x) | 2153 | 20346 |
|  Figs, Inc., Class A\* | 3157 | 21120 |
|  G-III Apparel Group Ltd.\* | 1418 | 37733 |
|  Hanesbrands, Inc.\* | 12710 | 83759 |
|  Kontoor Brands, Inc. | 1949 | 155472 |
|  Lakeland Industries, Inc.(x) | 325 | 4810 |
|  Movado Group, Inc. | 625 | 11856 |
|  Oxford Industries, Inc. | 545 | 22094 |
|  Rocky Brands, Inc. | 317 | 9443 |
|  Steven Madden Ltd. | 2566 | 85910 |
|  Superior Group of Cos., Inc. | 551 | 5907 |
|  Wolverine World Wide, Inc. | 2890 | 79302 |
|  |  | 2509405 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 25895494 |
|  **Consumer Staples (0.8%)** |  |  |
|  ***Beverages (0.1%)*** |  |  |
|  MGP Ingredients, Inc. | 487 | 11780 |
|  National Beverage Corp.\* | 854 | 31530 |
|  Vita Coco Co., Inc. (The)\* | 1548 | 65743 |
|  Zevia PBC, Class A\* | 1330 | 3618 |
|  |  | 112671 |
|  ***Consumer Staples Distribution & Retail (0.2%)*** |  |  |
|  Andersons, Inc. (The) | 1172 | 46657 |
|  Chefs' Warehouse, Inc. (The)\* | 1294 | 75479 |
|  Grocery Outlet Holding Corp.\* | 3423 | 54939 |
|  Guardian Pharmacy Services, Inc., Class A\* | 659 | 17286 |
|  HF Foods Group, Inc.\* | 1470 | 4057 |
|  Ingles Markets, Inc., Class A | 512 | 35615 |
|  Natural Grocers by Vitamin Cottage, Inc. | 472 | 18880 |
|  PriceSmart, Inc. | 892 | 108101 |
|  United Natural Foods, Inc.\* | 2137 | 80394 |
|  Village Super Market, Inc., Class A | 307 | 11469 |
|  Weis Markets, Inc. | 611 | 43913 |
|  |  | 496790 |
|  ***Food Products (0.3%)*** |  |  |
|  Alico, Inc. | 176 | 6100 |
|  B&G Foods, Inc.(x) | 2819 | 12488 |
|  Beyond Meat, Inc.(x)\* | 2427 | 4587 |
|  BRC, Inc., Class A(x)\* | 2395 | 3736 |
|  Calavo Growers, Inc. | 652 | 16782 |
|  Cal-Maine Foods, Inc. | 1620 | 152442 |
|  Dole plc | 2453 | 32968 |
|  Forafric Global plc(x)\* | 233 | 2025 |
|  Fresh Del Monte Produce, Inc. | 1115 | 38713 |
|  Hain Celestial Group, Inc. (The)\* | 3458 | 5464 |
|  J & J Snack Foods Corp. | 551 | 52946 |
|  John B Sanfilippo & Son, Inc. | 268 | 17227 |
|  Lifeway Foods, Inc.\* | 184 | 5108 |
|  Limoneira Co. | 685 | 10172 |
|  Mama's Creations, Inc.\* | 1410 | 14819 |
|  Marzetti Co. (The) | 714 | 123372 |
|  Mission Produce, Inc.\* | 1683 | 20230 |
|  Seneca Foods Corp., Class A\* | 162 | 17486 |
|  Simply Good Foods Co. (The)\* | 3207 | 79598 |
|  SunOpta, Inc.\* | 2959 | 17340 |
|  Tootsie Roll Industries, Inc. | 652 | 27332 |
|  TreeHouse Foods, Inc.\* | 1858 | 37550 |
|  Utz Brands, Inc. | 2613 | 31748 |
|  Vital Farms, Inc.\* | 1171 | 48187 |
|  Westrock Coffee Co.(x)\* | 1249 | 6070 |
|  |  | 784490 |
|  ***Household Products (0.1%)*** |  |  |
|  Central Garden & Pet Co.\* | 285 | 9305 |
|  Central Garden & Pet Co., Class A\* | 1775 | 52416 |
|  Energizer Holdings, Inc. | 2371 | 59014 |
|  Oil-Dri Corp. of America | 377 | 23012 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Spectrum Brands Holdings, Inc. | 729 | $38294 |
|  WD-40 Co. | 466 | 92082 |
|  |  | 274123 |
|  ***Personal Care Products (0.1%)*** |  |  |
|  Beauty Health Co. (The)(x)\* | 3549 | 7063 |
|  Edgewell Personal Care Co. | 1686 | 34327 |
|  FitLife Brands, Inc.\* | 85 | 1691 |
|  Herbalife Ltd.(x)\* | 3337 | 28164 |
|  Honest Co., Inc. (The)\* | 3817 | 14047 |
|  Interparfums, Inc. | 665 | 65423 |
|  Lifevantage Corp. | 373 | 3629 |
|  Medifast, Inc.(x)\* | 434 | 5933 |
|  Nature's Sunshine Products, Inc.\* | 593 | 9203 |
|  Nu Skin Enterprises, Inc., Class A | 1492 | 18187 |
|  Olaplex Holdings, Inc.\* | 5874 | 7695 |
|  USANA Health Sciences, Inc.\* | 319 | 8788 |
|  Waldencast plc, Class A\* | 765 | 1515 |
|  |  | 205665 |
|  ***Tobacco (0.0%)†*** |  |  |
|  Ispire Technology, Inc.\* | 757 | 1938 |
|  Turning Point Brands, Inc. | 579 | 57240 |
|  Universal Corp. | 876 | 48942 |
|  |  | 108120 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 1981859 |
|  **Energy (3.7%)** |  |  |
|  ***Energy Equipment & Services (2.1%)*** |  |  |
|  Archrock, Inc. | 5764 | 151651 |
|  Aris Water Solutions, Inc., Class A | 1038 | 25597 |
|  Atlas Energy Solutions, Inc.(x) | 2639 | 30005 |
|  Borr Drilling Ltd.(x) | 8590 | 23107 |
|  Bristow Group, Inc., Class A\* | 926 | 33410 |
|  Cactus, Inc., Class A | 2411 | 95162 |
|  Core Laboratories, Inc. | 1616 | 19974 |
|  DMC Global, Inc.\* | 848 | 7166 |
|  Energy Services of America Corp. | 481 | 4978 |
|  Expro Group Holdings NV\* | 3581 | 42542 |
|  Flowco Holdings, Inc., Class A | 699 | 10380 |
|  Forum Energy Technologies, Inc.\* | 432 | 11539 |
|  Helix Energy Solutions Group, Inc.\* | 4304 | 28234 |
|  Helmerich & Payne, Inc. | 3328 | 73516 |
|  Hunting plc | 205515 | 935604 |
|  Innovex International, Inc.\* | 1325 | 24566 |
|  Kodiak Gas Services, Inc.(x) | 2316 | 85623 |
|  Liberty Energy, Inc., Class A | 122208 | 1508047 |
|  Mammoth Energy Services, Inc.\* | 1025 | 2347 |
|  Nabors Industries Ltd.\* | 498 | 20353 |
|  National Energy Services Reunited Corp.\* | 2119 | 21741 |
|  Natural Gas Services Group, Inc. | 445 | 12456 |
|  Noble Corp. plc | 4515 | 127684 |
|  Oceaneering International, Inc.\* | 3400 | 84252 |
|  Oil States International, Inc.\* | 2450 | 14847 |
|  Patterson-UTI Energy, Inc. | 12784 | 66221 |
|  ProFrac Holding Corp., Class A\* | 468 | 1732 |
|  ProPetro Holding Corp.\* | 2605 | 13650 |
|  Ranger Energy Services, Inc., Class A | 516 | 7245 |
|  RPC, Inc. | 3248 | 15460 |
|  SEACOR Marine Holdings, Inc.\* | 1060 | 6879 |
|  Seadrill Ltd.\* | 2116 | 63924 |
|  Select Water Solutions, Inc., Class A | 98341 | 1051265 |
|  Solaris Energy Infrastructure, Inc., Class A | 1319 | 52720 |
|  TechnipFMC plc | 3700 | 145965 |
|  TETRA Technologies, Inc.\* | 4274 | 24576 |
|  Tidewater, Inc.\* | 1719 | 91674 |
|  Transocean Ltd.(x)\* | 29514 | 92084 |
|  Valaris Ltd.\* | 2257 | 110074 |
|  |  | 5138250 |
|  ***Oil, Gas & Consumable Fuels (1.6%)*** |  |  |
|  Ardmore Shipping Corp. | 1082 | 12843 |
|  Berry Corp. | 3109 | 11752 |
|  BKV Corp.\* | 535 | 12375 |
|  California Resources Corp. | 2357 | 125345 |
|  Calumet, Inc.(x)\* | 2474 | 45150 |
|  Centrus Energy Corp., Class A(x)\* | 555 | 172089 |
|  Clean Energy Fuels Corp.\* | 6679 | 17232 |
|  CNX Resources Corp.(x)\* | 4817 | 154722 |
|  Comstock Resources, Inc.(x)\* | 2677 | 53085 |
|  Core Natural Resources, Inc. | 1836 | 153269 |
|  Crescent Energy Co., Class A | 6476 | 57766 |
|  CVR Energy, Inc.\* | 1134 | 41368 |
|  Delek US Holdings, Inc. | 2184 | 70478 |
|  DHT Holdings, Inc. | 4540 | 54253 |
|  Diversified Energy Co. plc(m) | 1797 | 25176 |
|  Dorian LPG Ltd. | 1294 | 38561 |
|  Empire Petroleum Corp.(x)\* | 421 | 1903 |
|  Encore Energy Corp.(x)\* | 6232 | 20005 |
|  Energy Fuels, Inc.(x)\* | 7561 | 116061 |
|  Epsilon Energy Ltd. | 584 | 2943 |
|  Evolution Petroleum Corp.(x) | 1387 | 6685 |
|  Excelerate Energy, Inc., Class A | 825 | 20782 |
|  FLEX LNG Ltd. | 1117 | 28148 |
|  FutureFuel Corp. | 1238 | 4803 |
|  Gevo, Inc.(x)\* | 8037 | 15752 |
|  Golar LNG Ltd. | 3494 | 141192 |
|  Granite Ridge Resources, Inc. | 2103 | 11377 |
|  Green Plains, Inc.\* | 2354 | 20692 |
|  Gulfport Energy Corp.\* | 548 | 99177 |
|  HighPeak Energy, Inc.(x) | 468 | 3309 |
|  Infinity Natural Resources, Inc., Class A\* | 452 | 5926 |
|  International Seaways, Inc. | 1374 | 63314 |
|  Kinetik Holdings, Inc., Class A(x) | 1561 | 66717 |
|  Kolibri Global Energy, Inc.(x)\* | 1221 | 6777 |
|  Kosmos Energy Ltd.\* | 17325 | 28759 |
|  Lightbridge Corp.\* | 672 | 14253 |
|  Magnolia Oil & Gas Corp., Class A | 6649 | 158712 |
|  Murphy Oil Corp. | 4814 | 136766 |
|  NACCO Industries, Inc., Class A | 181 | 7631 |
|  Navigator Holdings Ltd. | 1044 | 16172 |
|  New Fortress Energy, Inc.(x)\* | 5956 | 13163 |
|  NextDecade Corp.\* | 4821 | 32735 |
|  Nordic American Tankers Ltd. | 6923 | 21738 |
|  Northern Oil & Gas, Inc.(x) | 3321 | 82361 |
|  Par Pacific Holdings, Inc.\* | 1776 | 62906 |
|  PBF Energy, Inc., Class A | 3015 | 90963 |
|  Peabody Energy Corp. | 4232 | 112233 |
|  Prairie Operating Co.(x)\* | 1364 | 2707 |
|  REX American Resources Corp.\* | 992 | 30375 |
|  Riley Exploration Permian, Inc. | 472 | 12796 |
|  Sable Offshore Corp.\* | 2685 | 46880 |
|  SandRidge Energy, Inc. | 1017 | 11472 |
|  Scorpio Tankers, Inc. | 1541 | 86373 |
|  SFL Corp. Ltd.(x) | 4213 | 31724 |
|  SM Energy Co. | 3936 | 98282 |
|  Summit Midstream Corp.\* | 308 | 6326 |
|  Talos Energy, Inc.\* | 4261 | 40863 |
|  Teekay Corp. Ltd. | 1616 | 13219 |
|  Teekay Tankers Ltd., Class A | 831 | 42007 |
|  Uranium Energy Corp.\* | 14958 | 199540 |
|  VAALCO Energy, Inc.(x) | 4138 | 16635 |
|  Vital Energy, Inc.\* | 1111 | 18765 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Vitesse Energy, Inc.(x) | 1043 | $24229 |
|  W&T Offshore, Inc. | 4166 | 7582 |
|  Whitecap Resources, Inc.(x) | 122871 | 937623 |
|  World Kinect Corp. | 1900 | 49305 |
|  XCF Global, Inc., Class A\* | 3842 | 5033 |
|  |  | 4141155 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 9279405 |
|  **Financials (22.4%)** |  |  |
|  ***Banks (13.4%)*** |  |  |
|  1st Source Corp. | 629 | 38721 |
|  ACNB Corp. | 331 | 14577 |
|  Amalgamated Financial Corp. | 856 | 23240 |
|  Amerant Bancorp, Inc., Class A | 1381 | 26612 |
|  Ameris Bancorp | 2342 | 171692 |
|  Ames National Corp. | 379 | 7663 |
|  Arrow Financial Corp. | 521 | 14744 |
|  Associated Banc-Corp. | 5755 | 147961 |
|  Atlantic Union Bankshares Corp. | 69968 | 2469171 |
|  Axos Financial, Inc.\* | 1879 | 159057 |
|  Banc of California, Inc. | 4397 | 72770 |
|  BancFirst Corp. | 767 | 96987 |
|  Bancorp, Inc. (The)\* | 1609 | 120498 |
|  Bank First Corp. | 328 | 39790 |
|  Bank of Hawaii Corp. | 1349 | 88548 |
|  Bank of Marin Bancorp | 498 | 12091 |
|  Bank of NT Butterfield & Son Ltd. (The) | 1465 | 62878 |
|  Bank7 Corp. | 164 | 7588 |
|  BankFinancial Corp. | 397 | 4776 |
|  BankUnited, Inc. | 2537 | 96812 |
|  Bankwell Financial Group, Inc. | 248 | 10974 |
|  Banner Corp. | 1179 | 77224 |
|  Bar Harbor Bankshares | 484 | 14743 |
|  BayCom Corp. | 341 | 9804 |
|  BCB Bancorp, Inc. | 663 | 5755 |
|  Beacon Financial Corp. | 2822 | 66910 |
|  Blue Foundry Bancorp\* | 558 | 5072 |
|  Blue Ridge Bankshares, Inc.\* | 2117 | 8955 |
|  Bridgewater Bancshares, Inc.\* | 801 | 14098 |
|  Burke & Herbert Financial Services Corp. | 443 | 27329 |
|  Business First Bancshares, Inc. | 1043 | 24625 |
|  BV Financial, Inc.\* | 308 | 4965 |
|  Byline Bancorp, Inc. | 1120 | 31058 |
|  C&F Financial Corp. | 102 | 6854 |
|  Cadence Bank | 6483 | 243372 |
|  California Bancorp\* | 838 | 13978 |
|  Camden National Corp. | 31305 | 1208060 |
|  Capital Bancorp, Inc. | 347 | 11069 |
|  Capital City Bank Group, Inc. | 494 | 20644 |
|  Capitol Federal Financial, Inc. | 4751 | 30169 |
|  Carter Bankshares, Inc.\* | 792 | 15373 |
|  Cathay General Bancorp | 2415 | 115944 |
|  CB Financial Services, Inc. | 165 | 5480 |
|  Central Pacific Financial Corp. | 898 | 27245 |
|  CF Bankshares, Inc. | 193 | 4622 |
|  Chain Bridge Bancorp, Inc., Class A\* | 182 | 5957 |
|  Chemung Financial Corp. | 156 | 8193 |
|  ChoiceOne Financial Services, Inc.(x) | 510 | 14770 |
|  Citizens & Northern Corp. | 580 | 11490 |
|  Citizens Community Bancorp, Inc. | 341 | 5480 |
|  Citizens Financial Services, Inc. | 188 | 11333 |
|  City Holding Co. | 532 | 65899 |
|  Civista Bancshares, Inc. | 436 | 8855 |
|  CNB Financial Corp. | 908 | 21974 |
|  Coastal Financial Corp.\* | 458 | 49542 |
|  CoastalSouth Bancshares, Inc.\* | 211 | 4602 |
|  Colony Bankcorp, Inc. | 685 | 11652 |
|  Columbia Banking System, Inc. | 115534 | 2973845 |
|  Columbia Financial, Inc.\* | 916 | 13749 |
|  Community Financial System, Inc. | 1840 | 107898 |
|  Community Trust Bancorp, Inc. | 561 | 31388 |
|  Community West Bancshares | 507 | 10566 |
|  ConnectOne Bancorp, Inc. | 1763 | 43740 |
|  Customers Bancorp, Inc.\* | 1015 | 66351 |
|  CVB Financial Corp. | 4451 | 84168 |
|  Dime Community Bancshares, Inc. | 1400 | 41762 |
|  Eagle Bancorp Montana, Inc. | 287 | 4956 |
|  Eagle Bancorp, Inc. | 882 | 17834 |
|  Eagle Financial Services, Inc. | 155 | 5864 |
|  Eastern Bankshares, Inc. | 6495 | 117884 |
|  ECB Bancorp, Inc.\* | 303 | 4809 |
|  Enterprise Financial Services Corp. | 1294 | 75026 |
|  Equity Bancshares, Inc., Class A | 408 | 16606 |
|  Esquire Financial Holdings, Inc. | 265 | 27045 |
|  Farmers & Merchants Bancorp, Inc. | 394 | 9854 |
|  Farmers National Banc Corp. | 1249 | 17998 |
|  FB Bancorp, Inc.\* | 563 | 6767 |
|  FB Financial Corp. | 1427 | 79541 |
|  Fidelity D&D Bancorp, Inc. | 205 | 8985 |
|  Financial Institutions, Inc. | 659 | 17925 |
|  Finward Bancorp | 162 | 5199 |
|  Finwise Bancorp\* | 326 | 6321 |
|  First Bancorp (Nasdaq Stock Exchange)(x) | 46138 | 2440239 |
|  First Bancorp (New York Stock Exchange) | 5633 | 124208 |
|  First Bancorp, Inc. (The) | 426 | 11187 |
|  First Bank | 872 | 14205 |
|  First Busey Corp. | 3045 | 70492 |
|  First Business Financial Services, Inc. | 227 | 11636 |
|  First Capital, Inc.(x) | 110 | 5038 |
|  First Commonwealth Financial Corp. | 68644 | 1170380 |
|  First Community Bankshares, Inc. | 539 | 18757 |
|  First Community Corp. | 240 | 6773 |
|  First Financial Bancorp | 3431 | 86633 |
|  First Financial Bankshares, Inc. | 4643 | 156237 |
|  First Financial Corp. | 433 | 24438 |
|  First Foundation, Inc.\* | 2122 | 11820 |
|  First Internet Bancorp | 344 | 7716 |
|  First Interstate BancSystem, Inc., Class A | 85366 | 2720614 |
|  First Merchants Corp. | 1973 | 74382 |
|  First Mid Bancshares, Inc. | 816 | 30910 |
|  First National Corp. | 253 | 5738 |
|  First Savings Financial Group, Inc. | 191 | 6003 |
|  First United Corp. | 204 | 7501 |
|  First Western Financial, Inc.\* | 305 | 7023 |
|  Firstsun Capital Bancorp\* | 442 | 17145 |
|  Five Star Bancorp | 600 | 19320 |
|  Flagstar Financial, Inc. | 10578 | 122176 |
|  Flushing Financial Corp. | 977 | 13492 |
|  Franklin Financial Services Corp. | 144 | 6624 |
|  FS Bancorp, Inc. | 223 | 8902 |
|  Fulton Financial Corp. | 6462 | 120387 |
|  FVCBankcorp, Inc. | 705 | 9144 |
|  GBank Financial Holdings, Inc.(x)\* | 320 | 12566 |
|  German American Bancorp, Inc. | 41125 | 1614979 |
|  Glacier Bancorp, Inc.(x) | 4159 | 202419 |
|  Great Southern Bancorp, Inc. | 336 | 20580 |
|  Greene County Bancorp, Inc. | 298 | 6735 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Guaranty Bancshares, Inc. | 276 | $13455 |
|  Hancock Whitney Corp. | 3115 | 195030 |
|  Hanmi Financial Corp. | 1091 | 26937 |
|  Hanover Bancorp, Inc. | 215 | 4827 |
|  HarborOne Bancorp, Inc. | 1478 | 20101 |
|  Hawthorn Bancshares, Inc. | 196 | 6084 |
|  HBT Financial, Inc. | 513 | 12928 |
|  Heritage Commerce Corp. | 2323 | 23067 |
|  Heritage Financial Corp. | 1114 | 26948 |
|  Hilltop Holdings, Inc. | 1505 | 50297 |
|  Hingham Institution For Savings (The)(x) | 53 | 13980 |
|  Home Bancorp, Inc. | 289 | 15700 |
|  Home BancShares, Inc. | 6622 | 187403 |
|  HomeTrust Bancshares, Inc. | 523 | 21412 |
|  Hope Bancorp, Inc. | 4142 | 44609 |
|  Horizon Bancorp, Inc. | 1498 | 23983 |
|  Independent Bank Corp. | 653 | 20227 |
|  Independent Bank Corp./MA | 1659 | 114753 |
|  International Bancshares Corp. | 1909 | 131244 |
|  Investar Holding Corp. | 305 | 7079 |
|  John Marshall Bancorp, Inc. | 296 | 5867 |
|  Kearny Financial Corp. | 2196 | 14428 |
|  Lakeland Financial Corp. | 909 | 58358 |
|  Landmark Bancorp, Inc. | 189 | 5044 |
|  LCNB Corp. | 465 | 6970 |
|  LINKBANCORP, Inc. | 414 | 2952 |
|  Live Oak Bancshares, Inc. | 1311 | 46173 |
|  MainStreet Bancshares, Inc. | 245 | 5103 |
|  Mechanics Bancorp\* | 743 | 9889 |
|  Mercantile Bank Corp. | 518 | 23310 |
|  Meridian Corp. | 384 | 6063 |
|  Metrocity Bankshares, Inc. | 623 | 17251 |
|  Metropolitan Bank Holding Corp. | 296 | 22147 |
|  Mid Penn Bancorp, Inc. | 609 | 17442 |
|  Middlefield Banc Corp. | 246 | 7382 |
|  Midland States Bancorp, Inc. | 735 | 12598 |
|  MidWestOne Financial Group, Inc. | 298 | 8430 |
|  MVB Financial Corp. | 499 | 12505 |
|  National Bank Holdings Corp., Class A | 1335 | 51584 |
|  National Bankshares, Inc. | 254 | 7478 |
|  NB Bancorp, Inc. | 1243 | 21939 |
|  NBT Bancorp, Inc. | 1749 | 73038 |
|  Nicolet Bankshares, Inc. | 477 | 64156 |
|  Northeast Bank | 254 | 25441 |
|  Northeast Community Bancorp, Inc. | 510 | 10491 |
|  Northfield Bancorp, Inc. | 1492 | 17606 |
|  Northpointe Bancshares, Inc. | 334 | 5705 |
|  Northrim Bancorp, Inc. | 852 | 18454 |
|  Northwest Bancshares, Inc. | 5289 | 65531 |
|  Norwood Financial Corp.(x) | 325 | 8261 |
|  Oak Valley Bancorp | 296 | 8338 |
|  OceanFirst Financial Corp. | 2003 | 35193 |
|  OFG Bancorp | 1575 | 68497 |
|  Ohio Valley Banc Corp. | 153 | 5658 |
|  Old National Bancorp | 12427 | 272773 |
|  Old Second Bancorp, Inc. | 1556 | 26895 |
|  OP Bancorp | 379 | 5276 |
|  Orange County Bancorp, Inc. | 424 | 10689 |
|  Origin Bancorp, Inc. | 1062 | 36660 |
|  Orrstown Financial Services, Inc. | 654 | 22223 |
|  Park National Corp. | 512 | 83215 |
|  Parke Bancorp, Inc. | 460 | 9913 |
|  Pathward Financial, Inc. | 860 | 63649 |
|  PCB Bancorp | 419 | 8799 |
|  Peapack-Gladstone Financial Corp. | 577 | 15925 |
|  Peoples Bancorp of North Carolina, Inc. | 64 | 1962 |
|  Peoples Bancorp, Inc. | 21833 | 654772 |
|  Peoples Financial Services Corp. | 299 | 14534 |
|  Pioneer Bancorp, Inc.\* | 535 | 6987 |
|  Plumas Bancorp | 187 | 8067 |
|  Ponce Financial Group, Inc.\* | 793 | 11657 |
|  Preferred Bank | 431 | 38958 |
|  Primis Financial Corp. | 828 | 8702 |
|  Princeton Bancorp, Inc. | 224 | 7132 |
|  Provident Bancorp, Inc.\* | 664 | 8320 |
|  Provident Financial Services, Inc. | 4481 | 86394 |
|  QCR Holdings, Inc. | 585 | 44249 |
|  RBB Bancorp | 436 | 8179 |
|  Red River Bancshares, Inc. | 191 | 12381 |
|  Renasant Corp. | 3409 | 125758 |
|  Republic Bancorp, Inc., Class A | 309 | 22325 |
|  Rhinebeck Bancorp, Inc.\* | 381 | 4328 |
|  Richmond Mutual Bancorp, Inc. | 344 | 4888 |
|  Riverview Bancorp, Inc. | 831 | 4462 |
|  S&T Bancorp, Inc. | 1397 | 52513 |
|  SB Financial Group, Inc. | 258 | 4977 |
|  Seacoast Banking Corp. of Florida | 52002 | 1582421 |
|  ServisFirst Bancshares, Inc. | 1804 | 145276 |
|  Shore Bancshares, Inc. | 1018 | 16705 |
|  Sierra Bancorp | 374 | 10812 |
|  Simmons First National Corp., Class A | 5095 | 97671 |
|  SmartFinancial, Inc. | 491 | 17543 |
|  Sound Financial Bancorp, Inc. | 98 | 4514 |
|  South Plains Financial, Inc. | 427 | 16504 |
|  Southern First Bancshares, Inc.\* | 250 | 11030 |
|  Southern Missouri Bancorp, Inc. | 326 | 17135 |
|  Southside Bancshares, Inc. | 1016 | 28702 |
|  SouthState Bank Corp. | 30549 | 3020380 |
|  SR Bancorp, Inc.(x) | 347 | 5236 |
|  Stellar Bancorp, Inc. | 1583 | 48028 |
|  Sterling Bancorp, Inc.(r)\* | 817 |  |
|  Stock Yards Bancorp, Inc. | 902 | 63131 |
|  Texas Capital Bancshares, Inc.\* | 1590 | 134403 |
|  Third Coast Bancshares, Inc.\* | 408 | 15492 |
|  Timberland Bancorp, Inc. | 189 | 6290 |
|  Tompkins Financial Corp. | 442 | 29265 |
|  Towne Bank | 2626 | 90781 |
|  TriCo Bancshares | 33031 | 1466907 |
|  Triumph Financial, Inc.\* | 775 | 38781 |
|  TrustCo Bank Corp. | 681 | 24720 |
|  Trustmark Corp. | 1979 | 78368 |
|  UMB Financial Corp. | 2590 | 306526 |
|  Union Bankshares, Inc. | 176 | 4358 |
|  United Bankshares, Inc. | 4910 | 182701 |
|  United Community Banks, Inc. | 4257 | 133457 |
|  United Security Bancshares | 541 | 5048 |
|  Unity Bancorp, Inc. | 246 | 12022 |
|  Univest Financial Corp. | 1086 | 32602 |
|  USCB Financial Holdings, Inc. | 400 | 6980 |
|  Valley National Bancorp | 17082 | 181069 |
|  Veritex Holdings, Inc. | 1923 | 64478 |
|  Virginia National Bankshares Corp. | 208 | 8072 |
|  WaFd, Inc. | 2828 | 85660 |
|  Washington Trust Bancorp, Inc. | 7334 | 211953 |
|  WesBanco, Inc. | 3309 | 105656 |
|  West Bancorp, Inc. | 656 | 13330 |
|  Westamerica Bancorp | 812 | 40592 |
|  Western New England Bancorp, Inc. | 583 | 7002 |
|  WSFS Financial Corp. | 49918 | 2692078 |
|  |  | 33363312 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***Capital Markets (2.4%)*** |  |  |
|  Acadian Asset Management, Inc. | 990 | $47678 |
|  AlTi Global, Inc.\* | 1396 | 4970 |
|  Artisan Partners Asset Management, Inc., Class A | 2168 | 94091 |
|  Bakkt Holdings, Inc., Class A(x)\* | 346 | 11643 |
|  BGC Group, Inc., Class A | 12647 | 119641 |
|  Cohen & Steers, Inc. | 932 | 61149 |
|  Diamond Hill Investment Group, Inc. | 103 | 14421 |
|  DigitalBridge Group, Inc. | 6173 | 72224 |
|  Donnelley Financial Solutions, Inc.\* | 952 | 48961 |
|  Forge Global Holdings, Inc.\* | 321 | 5425 |
|  GCM Grosvenor, Inc., Class A(x) | 1737 | 20966 |
|  Marex Group plc | 1883 | 63306 |
|  MarketWise, Inc. | 46 | 760 |
|  Moelis & Co., Class A | 2485 | 177230 |
|  Open Lending Corp.\* | 4059 | 8565 |
|  P10, Inc., Class A(x) | 1822 | 19823 |
|  Patria Investments Ltd., Class A | 2151 | 31405 |
|  Perella Weinberg Partners, Class A | 2207 | 47053 |
|  Piper Sandler Cos. | 3383 | 1173867 |
|  PJT Partners, Inc., Class A | 804 | 142895 |
|  Rosebank Industries plc\* | 209050 | 1020579 |
|  Siebert Financial Corp.(x)\* | 1049 | 3063 |
|  Silvercrest Asset Management Group, Inc., Class A | 360 | 5670 |
|  StepStone Group, Inc., Class A | 2425 | 158377 |
|  StoneX Group, Inc.\* | 1644 | 165913 |
|  Value Line, Inc. | 34 | 1329 |
|  Victory Capital Holdings, Inc., Class A | 34861 | 2257598 |
|  Virtus Investment Partners, Inc. | 234 | 44467 |
|  Westwood Holdings Group, Inc. | 286 | 4716 |
|  WisdomTree, Inc.(x) | 4407 | 61257 |
|  |  | 5889042 |
|  ***Consumer Finance (1.0%)*** |  |  |
|  Atlanticus Holdings Corp.\* | 220 | 12888 |
|  Bread Financial Holdings, Inc. | 29944 | 1669977 |
|  Consumer Portfolio Services, Inc.\* | 337 | 2544 |
|  Dave, Inc.\* | 335 | 66782 |
|  Encore Capital Group, Inc.\* | 832 | 34728 |
|  Enova International, Inc.\* | 845 | 97251 |
|  FirstCash Holdings, Inc. | 1399 | 221630 |
|  Green Dot Corp., Class A\* | 1919 | 25772 |
|  Jefferson Capital, Inc. | 277 | 4781 |
|  LendingClub Corp.\* | 3999 | 60745 |
|  LendingTree, Inc.\* | 389 | 25180 |
|  Medallion Financial Corp. | 767 | 7747 |
|  Navient Corp. | 2117 | 27838 |
|  Nelnet, Inc., Class A | 447 | 56045 |
|  NerdWallet, Inc., Class A\* | 1231 | 13245 |
|  Oportun Financial Corp.\* | 1175 | 7250 |
|  OppFi, Inc. | 730 | 8271 |
|  PRA Group, Inc.\* | 1491 | 23021 |
|  PROG Holdings, Inc. | 1342 | 43427 |
|  Regional Management Corp. | 354 | 13792 |
|  Upstart Holdings, Inc.(x)\* | 2951 | 149911 |
|  World Acceptance Corp.\* | 81 | 13700 |
|  |  | 2586525 |
|  ***Financial Services (1.0%)*** |  |  |
|  Acacia Research Corp.\* | 1672 | 5434 |
|  Alerus Financial Corp. | 814 | 18022 |
|  AvidXchange Holdings, Inc.\* | 5814 | 57849 |
|  Banco Latinoamericano de Comercio Exterior SA, Class E | 1072 | 49280 |
|  Better Home & Finance Holding Co.(x)\* | 162 | 9095 |
|  Burford Capital Ltd. | 6941 | 83014 |
|  Cannae Holdings, Inc. | 2026 | 37096 |
|  Cantaloupe, Inc.\* | 1766 | 18667 |
|  Cass Information Systems, Inc. | 493 | 19390 |
|  Compass Diversified Holdings | 2353 | 15577 |
|  Enact Holdings, Inc. | 1001 | 38378 |
|  Essent Group Ltd. | 3452 | 219409 |
|  Evertec, Inc. | 2215 | 74823 |
|  Federal Agricultural Mortgage Corp., Class C | 338 | 56777 |
|  Finance of America Cos., Inc., Class A\* | 207 | 4643 |
|  Flywire Corp.\* | 4012 | 54322 |
|  HA Sustainable Infrastructure Capital, Inc.(x) | 4143 | 127190 |
|  International Money Express, Inc.\* | 1037 | 14487 |
|  Jackson Financial, Inc., Class A | 2516 | 254695 |
|  loanDepot, Inc., Class A(x)\* | 3307 | 10152 |
|  Marqeta, Inc., Class A\* | 13888 | 73329 |
|  Merchants Bancorp | 934 | 29701 |
|  NCR Atleos Corp.\* | 2531 | 99494 |
|  NewtekOne, Inc. | 1048 | 12000 |
|  NMI Holdings, Inc., Class A\* | 2814 | 107889 |
|  Onity Group, Inc.\* | 228 | 9111 |
|  Pagseguro Digital Ltd., Class A | 6299 | 62990 |
|  Payoneer Global, Inc.\* | 9644 | 58346 |
|  Paysafe Ltd.(x)\* | 1264 | 16331 |
|  Paysign, Inc.\* | 1436 | 9032 |
|  PennyMac Financial Services, Inc. | 1062 | 131561 |
|  Priority Technology Holdings, Inc.\* | 766 | 5262 |
|  Radian Group, Inc. | 4815 | 174399 |
|  Remitly Global, Inc.\* | 5891 | 96023 |
|  Repay Holdings Corp., Class A\* | 3196 | 16715 |
|  Security National Financial Corp., Class A\* | 512 | 4439 |
|  Sezzle, Inc.\* | 542 | 43105 |
|  StoneCo Ltd., Class A\* | 8759 | 165633 |
|  SWK Holdings Corp. | 160 | 2328 |
|  Triller Group, Inc.\* | 6645 | 5516 |
|  Velocity Financial, Inc.\* | 373 | 6766 |
|  Walker & Dunlop, Inc. | 1175 | 98254 |
|  Waterstone Financial, Inc. | 630 | 9828 |
|  |  | 2406352 |
|  ***Insurance (4.2%)*** |  |  |
|  Abacus Global Management, Inc.\* | 1255 | 7191 |
|  Ambac Financial Group, Inc.\* | 1741 | 14520 |
|  American Coastal Insurance Corp. | 892 | 10160 |
|  American Integrity Insurance Group, Inc.\* | 243 | 5421 |
|  AMERISAFE, Inc. | 690 | 30250 |
|  Aspen Insurance Holdings Ltd., Class A\* | 542 | 19897 |
|  Ategrity Specialty Holdings LLC\* | 240 | 4745 |
|  Baldwin Insurance Group, Inc. (The), Class A\* | 2405 | 67845 |
|  Bowhead Specialty Holdings, Inc.\* | 580 | 15683 |
|  Citizens, Inc., Class A(x)\* | 1539 | 8080 |
|  CNO Financial Group, Inc. | 85065 | 3364321 |
|  Crawford & Co., Class A | 556 | 5949 |
|  Donegal Group, Inc., Class A | 633 | 12274 |
|  eHealth, Inc.\* | 1051 | 4530 |
|  Employers Holdings, Inc. | 852 | 36193 |
|  F&G Annuities & Life, Inc. | 719 | 22483 |
|  Fidelis Insurance Holdings Ltd. | 2175 | 39476 |
|  Genworth Financial, Inc., Class A\* | 14508 | 129121 |
|  GoHealth, Inc., Class A\* | 172 | 829 |
|  Goosehead Insurance, Inc., Class A | 865 | 64373 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Greenlight Capital Re Ltd., Class A\* | 1005 | $12764 |
|  Hamilton Insurance Group Ltd., Class B\* | 1561 | 38713 |
|  Hanover Insurance Group, Inc. (The) | 7136 | 1296112 |
|  HCI Group, Inc. | 367 | 70438 |
|  Heritage Insurance Holdings, Inc.\* | 847 | 21327 |
|  Hippo Holdings, Inc.\* | 568 | 20539 |
|  Horace Mann Educators Corp. | 72531 | 3276225 |
|  Investors Title Co. | 53 | 14195 |
|  James River Group Holdings Ltd. | 1303 | 7232 |
|  Kestrel Group Ltd. | 180 | 4916 |
|  Kingstone Cos., Inc. | 399 | 5865 |
|  Kingsway Financial Services, Inc.\* | 801 | 11711 |
|  Lemonade, Inc.(x)\* | 1926 | 103099 |
|  MBIA, Inc.\* | 1772 | 13201 |
|  Mercury General Corp. | 929 | 78761 |
|  NI Holdings, Inc.\* | 358 | 4855 |
|  Oscar Health, Inc., Class A\* | 6883 | 130295 |
|  Palomar Holdings, Inc.\* | 920 | 107410 |
|  ProAssurance Corp.\* | 1864 | 44717 |
|  Root, Inc., Class A(x)\* | 385 | 34461 |
|  Safety Insurance Group, Inc. | 542 | 38314 |
|  Selective Insurance Group, Inc. | 12611 | 1022374 |
|  Selectquote, Inc.\* | 5223 | 10237 |
|  SiriusPoint Ltd.\* | 2639 | 47740 |
|  Skyward Specialty Insurance Group, Inc.\* | 1314 | 62494 |
|  Slide Insurance Holdings, Inc.\* | 803 | 12675 |
|  Stewart Information Services Corp. | 957 | 70167 |
|  Tiptree, Inc., Class A | 938 | 17981 |
|  Trupanion, Inc.\* | 1343 | 58125 |
|  TWFG, Inc., Class A(x)\* | 229 | 6284 |
|  United Fire Group, Inc. | 769 | 23393 |
|  Universal Insurance Holdings, Inc. | 937 | 24643 |
|  |  | 10554604 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.4%)*** |  |  |
|  ACRES Commercial Realty Corp. (REIT)\* | 256 | 5417 |
|  Adamas Trust, Inc. (REIT) | 3198 | 22290 |
|  Advanced Flower Capital, Inc. (REIT)(x) | 711 | 2723 |
|  AG Mortgage Investment Trust, Inc. (REIT) | 1219 | 8825 |
|  Angel Oak Mortgage REIT, Inc. (REIT) | 418 | 3917 |
|  Apollo Commercial Real Estate Finance, Inc. (REIT) | 4740 | 48016 |
|  Arbor Realty Trust, Inc. (REIT)(x) | 6526 | 79682 |
|  Ares Commercial Real Estate Corp. (REIT)(x) | 2247 | 10134 |
|  ARMOUR Residential REIT, Inc. (REIT)(x) | 3616 | 54023 |
|  Blackstone Mortgage Trust, Inc. (REIT), Class A | 5643 | 103888 |
|  BrightSpire Capital, Inc. (REIT), Class A | 4339 | 23561 |
|  Chicago Atlantic Real Estate Finance, Inc. (REIT) | 720 | 9209 |
|  Chimera Investment Corp. (REIT) | 2713 | 35866 |
|  Claros Mortgage Trust, Inc. (REIT)\* | 3688 | 12244 |
|  Dynex Capital, Inc. (REIT)(x) | 4461 | 54826 |
|  Ellington Financial, Inc. (REIT) | 3311 | 42977 |
|  Franklin BSP Realty Trust, Inc. (REIT) | 2942 | 31950 |
|  Invesco Mortgage Capital, Inc. (REIT)(x) | 2531 | 19134 |
|  KKR Real Estate Finance Trust, Inc. (REIT) | 1993 | 17937 |
|  Ladder Capital Corp. (REIT) | 4183 | 45636 |
|  Lument Finance Trust, Inc. (REIT)(x) | 1959 | 3957 |
|  MFA Financial, Inc. (REIT) | 3682 | 33838 |
|  Nexpoint Real Estate Finance, Inc. (REIT) | 352 | 4991 |
|  Orchid Island Capital, Inc. (REIT)(x) | 3787 | 26547 |
|  PennyMac Mortgage Investment Trust (REIT) | 3061 | 37528 |
|  Ready Capital Corp. (REIT)(x) | 5626 | 21773 |
|  Redwood Trust, Inc. (REIT) | 4806 | 27827 |
|  Rithm Property Trust, Inc. (REIT) | 1735 | 4372 |
|  Seven Hills Realty Trust (REIT) | 542 | 5588 |
|  Sunrise Realty Trust, Inc. (REIT) | 328 | 3408 |
|  TPG RE Finance Trust, Inc. (REIT) | 2644 | 22633 |
|  Two Harbors Investment Corp. (REIT)(x) | 3835 | 37851 |
|  |  | 862568 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 55662403 |
|  **Health Care (7.9%)** |  |  |
|  ***Biotechnology (3.0%)*** |  |  |
|  4D Molecular Therapeutics, Inc.\* | 1398 | 12149 |
|  89bio, Inc.\* | 4508 | 66268 |
|  Abeona Therapeutics, Inc.\* | 1554 | 8205 |
|  Absci Corp.(x)\* | 3383 | 10284 |
|  ACADIA Pharmaceuticals, Inc.\* | 4359 | 93021 |
|  ADC Therapeutics SA\* | 2966 | 11864 |
|  ADMA Biologics, Inc.\* | 8132 | 119215 |
|  Agios Pharmaceuticals, Inc.\* | 1930 | 77470 |
|  Akebia Therapeutics, Inc.(x)\* | 8995 | 24556 |
|  Akero Therapeutics, Inc.\* | 2412 | 114522 |
|  Aldeyra Therapeutics, Inc.\* | 2048 | 10691 |
|  Alector, Inc.\* | 1679 | 4970 |
|  Alkermes plc\* | 5710 | 171300 |
|  Allogene Therapeutics, Inc.\* | 5657 | 7015 |
|  Altimmune, Inc.(x)\* | 2507 | 9451 |
|  Amicus Therapeutics, Inc.\* | 9753 | 76854 |
|  AnaptysBio, Inc.\* | 655 | 20056 |
|  Anavex Life Sciences Corp.(x)\* | 3186 | 28355 |
|  Anika Therapeutics, Inc.\* | 323 | 3036 |
|  Annexon, Inc.\* | 3568 | 10882 |
|  Apogee Therapeutics, Inc.\* | 1156 | 45928 |
|  Arbutus Biopharma Corp.\* | 5027 | 22823 |
|  Arcellx, Inc.\* | 1194 | 98027 |
|  Arcturus Therapeutics Holdings, Inc.(x)\* | 941 | 17343 |
|  Arcus Biosciences, Inc.\* | 2457 | 33415 |
|  Arcutis Biotherapeutics, Inc.\* | 3628 | 68388 |
|  Ardelyx, Inc.\* | 8452 | 46571 |
|  ArriVent Biopharma, Inc.\* | 805 | 14852 |
|  Arrowhead Pharmaceuticals, Inc.\* | 4295 | 148135 |
|  ARS Pharmaceuticals, Inc.(x)\* | 2059 | 20693 |
|  Astria Therapeutics, Inc.\* | 1164 | 8474 |
|  aTyr Pharma, Inc.(x)\* | 3140 | 2265 |
|  Aura Biosciences, Inc.(x)\* | 1195 | 7385 |
|  Aurinia Pharmaceuticals, Inc.\* | 4260 | 47073 |
|  Avidity Biosciences, Inc.\* | 3577 | 155850 |
|  Avita Medical, Inc.(x)\* | 272 | 1390 |
|  Beam Therapeutics, Inc.(x)\* | 3317 | 80504 |
|  Benitec Biopharma, Inc.\* | 514 | 7211 |
|  Bicara Therapeutics, Inc.\* | 1215 | 19185 |
|  BioCryst Pharmaceuticals, Inc.\* | 7550 | 57304 |
|  Biohaven Ltd.\* | 3102 | 46561 |
|  Bridgebio Pharma, Inc.\* | 5487 | 284995 |
|  Bright Minds Biosciences, Inc.\* | 163 | 9888 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Candel Therapeutics, Inc.(x)\* | 891 | $4544 |
|  Capricor Therapeutics, Inc.(x)\* | 1261 | 9092 |
|  Cardiff Oncology, Inc.(x)\* | 1845 | 3801 |
|  CareDx, Inc.\* | 1950 | 28353 |
|  Cartesian Therapeutics, Inc.(x)\* | 384 | 3924 |
|  Catalyst Pharmaceuticals, Inc.\* | 4187 | 82484 |
|  Celcuity, Inc.\* | 1020 | 50388 |
|  Celldex Therapeutics, Inc.\* | 2316 | 59915 |
|  CG oncology, Inc.(x)\* | 1957 | 78828 |
|  Cidara Therapeutics, Inc.\* | 538 | 51519 |
|  Cogent Biosciences, Inc.\* | 4498 | 64591 |
|  Coherus Oncology, Inc.(x)\* | 3363 | 5515 |
|  Compass Therapeutics, Inc.\* | 4014 | 14049 |
|  Corvus Pharmaceuticals, Inc.(x)\* | 1873 | 13804 |
|  CRISPR Therapeutics AG(x)\* | 2895 | 187625 |
|  Cullinan Therapeutics, Inc.\* | 1551 | 9197 |
|  Cytokinetics, Inc.\* | 4069 | 223632 |
|  Day One Biopharmaceuticals, Inc.\* | 2852 | 20107 |
|  Denali Therapeutics, Inc.\* | 4819 | 69972 |
|  Design Therapeutics, Inc.\* | 468 | 3524 |
|  DiaMedica Therapeutics, Inc.\* | 1223 | 8402 |
|  Dianthus Therapeutics, Inc.\* | 595 | 23413 |
|  Disc Medicine, Inc.\* | 809 | 53459 |
|  Dynavax Technologies Corp.\* | 3820 | 37933 |
|  Dyne Therapeutics, Inc.\* | 3964 | 50145 |
|  Editas Medicine, Inc.\* | 3056 | 10604 |
|  Eledon Pharmaceuticals, Inc.\* | 2044 | 5294 |
|  Emergent BioSolutions, Inc.\* | 1890 | 16670 |
|  Enanta Pharmaceuticals, Inc.\* | 867 | 10378 |
|  Entrada Therapeutics, Inc.\* | 941 | 5458 |
|  Erasca, Inc.\* | 7069 | 15410 |
|  Fate Therapeutics, Inc.\* | 4143 | 5220 |
|  Fennec Pharmaceuticals, Inc.(x)\* | 798 | 7469 |
|  Foghorn Therapeutics, Inc.\* | 1017 | 4973 |
|  Geron Corp.\* | 20980 | 28743 |
|  Gossamer Bio, Inc.\* | 6688 | 17589 |
|  GRAIL, Inc.\* | 1103 | 65220 |
|  Greenwich Lifesciences, Inc.(x)\* | 334 | 3323 |
|  Gyre Therapeutics, Inc.\* | 289 | 2156 |
|  Heron Therapeutics, Inc.(x)\* | 4710 | 5935 |
|  Humacyte, Inc.(x)\* | 3500 | 6090 |
|  Ideaya Biosciences, Inc.\* | 2755 | 74964 |
|  ImmunityBio, Inc.(x)\* | 8220 | 20221 |
|  Immunome, Inc.(x)\* | 2641 | 30926 |
|  Immunovant, Inc.\* | 2465 | 39736 |
|  Inhibikase Therapeutics, Inc.\* | 2749 | 4453 |
|  Inhibrx Biosciences, Inc.\* | 360 | 12125 |
|  Inmune Bio, Inc.(x)\* | 808 | 1673 |
|  Intellia Therapeutics, Inc.\* | 3599 | 62155 |
|  Iovance Biotherapeutics, Inc.(x)\* | 9618 | 20871 |
|  Ironwood Pharmaceuticals, Inc., Class A\* | 5617 | 7358 |
|  Jade Biosciences, Inc.(x) | 1151 | 9933 |
|  Janux Therapeutics, Inc.\* | 1418 | 34656 |
|  KalVista Pharmaceuticals, Inc.\* | 1391 | 16942 |
|  Keros Therapeutics, Inc.\* | 1175 | 18589 |
|  Kodiak Sciences, Inc.\* | 1411 | 23098 |
|  Korro Bio, Inc.\* | 258 | 12356 |
|  Krystal Biotech, Inc.\* | 868 | 153228 |
|  Kura Oncology, Inc.\* | 2838 | 25116 |
|  Kymera Therapeutics, Inc.\* | 1807 | 102276 |
|  Larimar Therapeutics, Inc.\* | 1858 | 6001 |
|  Lexeo Therapeutics, Inc.\* | 977 | 6487 |
|  Madrigal Pharmaceuticals, Inc.\* | 654 | 299964 |
|  MannKind Corp.\* | 10091 | 54189 |
|  MeiraGTx Holdings plc\* | 1610 | 13250 |
|  Metsera, Inc.(x)\* | 1871 | 97909 |
|  MiMedx Group, Inc.\* | 4252 | 29679 |
|  Mineralys Therapeutics, Inc.\* | 1411 | 53505 |
|  Mirum Pharmaceuticals, Inc.\* | 1413 | 103587 |
|  Monopar Therapeutics, Inc.\* | 142 | 11597 |
|  Monte Rosa Therapeutics, Inc.(x)\* | 1384 | 10255 |
|  Myriad Genetics, Inc.\* | 3309 | 23924 |
|  Neurogene, Inc.(x)\* | 436 | 7556 |
|  Nkarta, Inc.\* | 2241 | 4639 |
|  Novavax, Inc.(x)\* | 5232 | 45361 |
|  Nurix Therapeutics, Inc.\* | 2704 | 24985 |
|  Nuvalent, Inc., Class A\* | 1493 | 129115 |
|  Nuvectis Pharma, Inc.(x)\* | 572 | 3443 |
|  Olema Pharmaceuticals, Inc.\* | 2101 | 20569 |
|  Organogenesis Holdings, Inc., Class A\* | 2386 | 10069 |
|  ORIC Pharmaceuticals, Inc.\* | 1975 | 23700 |
|  Oruka Therapeutics, Inc.(x)\* | 968 | 18615 |
|  Palvella Therapeutics, Inc.\* | 238 | 14920 |
|  Perspective Therapeutics, Inc.(x)\* | 2407 | 8256 |
|  Praxis Precision Medicines, Inc.\* | 655 | 34715 |
|  Precigen, Inc.(x)\* | 4941 | 16256 |
|  Prime Medicine, Inc.\* | 2612 | 14470 |
|  Protagonist Therapeutics, Inc.\* | 2083 | 138374 |
|  Protalix BioTherapeutics, Inc.\* | 2983 | 6622 |
|  Protara Therapeutics, Inc.\* | 1491 | 6486 |
|  Prothena Corp. plc\* | 1412 | 13781 |
|  PTC Therapeutics, Inc.\* | 2717 | 166742 |
|  Puma Biotechnology, Inc.\* | 1347 | 7153 |
|  Recursion Pharmaceuticals, Inc., Class A(x)\* | 12245 | 59756 |
|  REGENXBIO, Inc.\* | 1607 | 15508 |
|  Relay Therapeutics, Inc.\* | 4388 | 22905 |
|  Replimune Group, Inc.\* | 2428 | 10173 |
|  Rezolute, Inc.\* | 2384 | 22410 |
|  Rhythm Pharmaceuticals, Inc.\* | 1830 | 184812 |
|  Rigel Pharmaceuticals, Inc.\* | 605 | 17140 |
|  Rocket Pharmaceuticals, Inc.\* | 2723 | 8877 |
|  Sana Biotechnology, Inc.(x)\* | 5192 | 18432 |
|  Savara, Inc.\* | 4022 | 14359 |
|  Scholar Rock Holding Corp.\* | 2790 | 103900 |
|  SELLAS Life Sciences Group, Inc.(x)\* | 3361 | 5411 |
|  Sionna Therapeutics, Inc.(x)\* | 435 | 12793 |
|  Soleno Therapeutics, Inc.(x)\* | 1452 | 98155 |
|  Solid Biosciences, Inc.\* | 2352 | 14512 |
|  Spyre Therapeutics, Inc.(x)\* | 1791 | 30017 |
|  Stoke Therapeutics, Inc.\* | 1638 | 38493 |
|  Syndax Pharmaceuticals, Inc.\* | 2915 | 44847 |
|  Tango Therapeutics, Inc.(x)\* | 2825 | 23730 |
|  Taysha Gene Therapies, Inc.\* | 6776 | 22158 |
|  Tectonic Therapeutic, Inc.(x)\* | 386 | 6056 |
|  Tevogen Bio Holdings, Inc.(x)\* | 242 | 190 |
|  TG Therapeutics, Inc.(x)\* | 5085 | 183696 |
|  Tonix Pharmaceuticals Holding Corp.(x)\* | 270 | 6523 |
|  Tourmaline Bio, Inc.\* | 609 | 29128 |
|  Travere Therapeutics, Inc.\* | 3072 | 73421 |
|  TriSalus Life Sciences, Inc.\* | 873 | 4059 |
|  Twist Bioscience Corp.\* | 2150 | 60501 |
|  Tyra Biosciences, Inc.(x)\* | 657 | 9191 |
|  Upstream Bio, Inc.(x)\* | 1250 | 23513 |
|  UroGen Pharma Ltd.\* | 1183 | 23601 |
|  Vanda Pharmaceuticals, Inc.\* | 1879 | 9376 |
|  Vaxcyte, Inc.\* | 3997 | 143972 |
|  Vera Therapeutics, Inc., Class A\* | 1856 | 53935 |
|  Veracyte, Inc.\* | 2687 | 92245 |
|  Verastem, Inc.\* | 1323 | 11682 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Vericel Corp.\* | 1787 | $56237 |
|  Vir Biotechnology, Inc.\* | 3231 | 18449 |
|  Viridian Therapeutics, Inc.\* | 2513 | 54231 |
|  Voyager Therapeutics, Inc.\* | 2054 | 9592 |
|  Xencor, Inc.\* | 2592 | 30404 |
|  Xenon Pharmaceuticals, Inc.\* | 2607 | 104671 |
|  XOMA Royalty Corp.\* | 322 | 12410 |
|  Zenas Biopharma, Inc.(x)\* | 631 | 14008 |
|  Zymeworks, Inc.\* | 1602 | 27362 |
|  |  | 7416863 |
|  ***Health Care Equipment & Supplies (2.3%)*** |  |  |
|  Accuray, Inc.\* | 4103 | 6852 |
|  Alphatec Holdings, Inc.\* | 4182 | 60806 |
|  AngioDynamics, Inc.\* | 1364 | 15236 |
|  Anteris Technologies Global Corp.(x)\* | 1291 | 5810 |
|  Artivion, Inc.\* | 1310 | 55465 |
|  AtriCure, Inc.\* | 1715 | 60454 |
|  Avanos Medical, Inc.\* | 1429 | 16519 |
|  Axogen, Inc.\* | 1635 | 29168 |
|  Beta Bionics, Inc.(x)\* | 1307 | 25970 |
|  Bioventus, Inc., Class A\* | 1590 | 10637 |
|  Butterfly Network, Inc., Class A\* | 6789 | 13103 |
|  Carlsmed, Inc.(x)\* | 336 | 4499 |
|  Ceribell, Inc.\* | 886 | 10180 |
|  Cerus Corp.\* | 7555 | 12013 |
|  ClearPoint Neuro, Inc.(x)\* | 918 | 20003 |
|  CONMED Corp. | 1123 | 52815 |
|  CVRx, Inc.\* | 489 | 3946 |
|  Delcath Systems, Inc.\* | 1073 | 11535 |
|  Electromed, Inc.\* | 236 | 5794 |
|  Embecta Corp. | 2082 | 29377 |
|  Enovis Corp.\* | 2034 | 61712 |
|  Envista Holdings Corp.\* | 165502 | 3371276 |
|  Glaukos Corp.\* | 1915 | 156168 |
|  Haemonetics Corp.\* | 1671 | 81445 |
|  ICU Medical, Inc.\* | 830 | 99567 |
|  Inogen, Inc.\* | 950 | 7762 |
|  Integer Holdings Corp.\* | 1151 | 118933 |
|  Integra LifeSciences Holdings Corp.\* | 2437 | 34922 |
|  iRadimed Corp. | 315 | 22415 |
|  iRhythm Technologies, Inc.\* | 1116 | 191941 |
|  Kestra Medical Technologies Ltd.(x)\* | 446 | 10597 |
|  KORU Medical Systems, Inc.\* | 1413 | 5412 |
|  Lantheus Holdings, Inc.\* | 2369 | 121506 |
|  LeMaitre Vascular, Inc. | 736 | 64407 |
|  LENSAR, Inc.\* | 365 | 4508 |
|  LivaNova plc\* | 1888 | 98893 |
|  Lucid Diagnostics, Inc.\* | 3835 | 3873 |
|  Merit Medical Systems, Inc.\* | 2014 | 167625 |
|  Myomo, Inc.(x)\* | 1934 | 1725 |
|  Neogen Corp.\* | 7847 | 44806 |
|  Neuronetics, Inc.(x)\* | 1289 | 3519 |
|  NeuroPace, Inc.\* | 986 | 10166 |
|  Novocure Ltd.\* | 3604 | 46564 |
|  Omnicell, Inc.\* | 1656 | 50425 |
|  OraSure Technologies, Inc.\* | 2772 | 8898 |
|  Orthofix Medical, Inc.\* | 1356 | 19852 |
|  OrthoPediatrics Corp.\* | 659 | 12211 |
|  Outset Medical, Inc.(x)\* | 617 | 8712 |
|  PROCEPT BioRobotics Corp.\* | 1896 | 67668 |
|  Pro-Dex, Inc.(x)\* | 108 | 3656 |
|  Pulmonx Corp.\* | 1522 | 2466 |
|  Pulse Biosciences, Inc.\* | 723 | 12797 |
|  QuidelOrtho Corp.\* | 2436 | 71740 |
|  RxSight, Inc.\* | 1273 | 11444 |
|  Sanara Medtech, Inc.\* | 167 | 5299 |
|  SANUWAVE Health, Inc.\* | 246 | 9220 |
|  Semler Scientific, Inc.(x)\* | 426 | 12780 |
|  Shoulder Innovations, Inc.(x)\* | 329 | 4129 |
|  SI-BONE, Inc.\* | 1372 | 20196 |
|  Sight Sciences, Inc.\* | 1454 | 5002 |
|  STAAR Surgical Co.\* | 1817 | 48823 |
|  Stereotaxis, Inc.\* | 853 | 2653 |
|  Surmodics, Inc.\* | 462 | 13809 |
|  Tactile Systems Technology, Inc.\* | 958 | 13259 |
|  Tandem Diabetes Care, Inc.\* | 2386 | 28966 |
|  TransMedics Group, Inc.(x)\* | 1157 | 129815 |
|  Treace Medical Concepts, Inc.\* | 1841 | 12353 |
|  UFP Technologies, Inc.\* | 264 | 52694 |
|  Utah Medical Products, Inc. | 120 | 7556 |
|  Varex Imaging Corp.\* | 1530 | 18972 |
|  Zimvie, Inc.\* | 1053 | 19944 |
|  |  | 5855263 |
|  ***Health Care Providers & Services (1.3%)*** |  |  |
|  AdaptHealth Corp., Class A\* | 3164 | 28318 |
|  Addus HomeCare Corp.\* | 638 | 75278 |
|  agilon health, Inc.\* | 11419 | 11762 |
|  AirSculpt Technologies, Inc.(x)\* | 535 | 4291 |
|  Alignment Healthcare, Inc.\* | 5091 | 88838 |
|  AMN Healthcare Services, Inc.\* | 1460 | 28266 |
|  Ardent Health, Inc.\* | 851 | 11276 |
|  Astrana Health, Inc.\* | 1386 | 39293 |
|  Aveanna Healthcare Holdings, Inc.\* | 1808 | 16037 |
|  BrightSpring Health Services, Inc.\* | 3267 | 96573 |
|  Brookdale Senior Living, Inc.\* | 8243 | 69818 |
|  Castle Biosciences, Inc.\* | 1002 | 22816 |
|  Clover Health Investments Corp., Class A\* | 14492 | 44346 |
|  Community Health Systems, Inc.\* | 5301 | 17016 |
|  Concentra Group Holdings Parent, Inc. | 3949 | 82653 |
|  CorVel Corp.\* | 1050 | 81291 |
|  Cross Country Healthcare, Inc.\* | 1248 | 17722 |
|  DocGo, Inc.\* | 3984 | 5418 |
|  Enhabit, Inc.\* | 1610 | 12896 |
|  Ensign Group, Inc. (The) | 1968 | 340011 |
|  Fulgent Genetics, Inc.\* | 738 | 16679 |
|  GeneDx Holdings Corp., Class A\* | 677 | 72940 |
|  Guardant Health, Inc.\* | 4183 | 261354 |
|  HealthEquity, Inc.\* | 2986 | 282983 |
|  Hims & Hers Health, Inc.\* | 6693 | 379627 |
|  Innovage Holding Corp.\* | 953 | 4917 |
|  Joint Corp. (The)\* | 451 | 4303 |
|  LifeStance Health Group, Inc.\* | 4922 | 27071 |
|  Nano-X Imaging Ltd.(x)\* | 1963 | 7263 |
|  National HealthCare Corp. | 467 | 56745 |
|  National Research Corp. | 330 | 4217 |
|  NeoGenomics, Inc.\* | 4556 | 35172 |
|  Nutex Health, Inc.(x)\* | 122 | 12605 |
|  Omada Health, Inc.(x)\* | 274 | 6058 |
|  Oncology Institute, Inc. (The)\* | 2023 | 7060 |
|  OPKO Health, Inc.\* | 14645 | 22700 |
|  Option Care Health, Inc.\* | 5718 | 158732 |
|  Owens & Minor, Inc.\* | 2909 | 13963 |
|  PACS Group, Inc.\* | 1487 | 20416 |
|  Pediatrix Medical Group, Inc.\* | 2943 | 49295 |
|  Pennant Group, Inc. (The)\* | 1168 | 29457 |
|  Performant Healthcare, Inc.(x)\* | 2321 | 17941 |
|  Premier, Inc., Class A | 2844 | 79063 |
|  Privia Health Group, Inc.\* | 4148 | 103285 |
|  Progyny, Inc.\* | 2698 | 58061 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  RadNet, Inc.\* | 2421 | $184504 |
|  Select Medical Holdings Corp. | 3937 | 50551 |
|  Sonida Senior Living, Inc.\* | 154 | 4269 |
|  Surgery Partners, Inc.\* | 2778 | 60116 |
|  Talkspace, Inc.\* | 4287 | 11832 |
|  US Physical Therapy, Inc. | 486 | 41286 |
|  Viemed Healthcare, Inc.\* | 1017 | 6905 |
|  |  | 3185289 |
|  ***Health Care Technology (0.2%)*** |  |  |
|  Claritev Corp.(x)\* | 271 | 14385 |
|  Definitive Healthcare Corp., Class A\* | 845 | 3431 |
|  Evolent Health, Inc., Class A\* | 4279 | 36200 |
|  Health Catalyst, Inc.\* | 2421 | 6900 |
|  HealthStream, Inc. | 888 | 25077 |
|  LifeMD, Inc.\* | 1411 | 9581 |
|  OptimizeRx Corp.\* | 561 | 11500 |
|  Phreesia, Inc.\* | 2027 | 47675 |
|  Schrodinger, Inc.\* | 2028 | 40682 |
|  Simulations Plus, Inc.\* | 616 | 9283 |
|  Teladoc Health, Inc.\* | 6184 | 47802 |
|  TruBridge, Inc.\* | 343 | 6918 |
|  Waystar Holding Corp.\* | 3837 | 145499 |
|  |  | 404933 |
|  ***Life Sciences Tools & Services (0.3%)*** |  |  |
|  10X Genomics, Inc., Class A(x)\* | 3785 | 44247 |
|  Adaptive Biotechnologies Corp.\* | 5392 | 80664 |
|  Atlantic International Corp.(x)\* | 1191 | 3633 |
|  Azenta, Inc.\* | 1468 | 42161 |
|  BioLife Solutions, Inc.\* | 1286 | 32806 |
|  Bruker Corp. | 10643 | 345791 |
|  Codexis, Inc.\* | 2907 | 7093 |
|  CryoPort, Inc.\* | 1749 | 16580 |
|  Cytek Biosciences, Inc.\* | 3911 | 13571 |
|  Fortrea Holdings, Inc.\* | 3267 | 27508 |
|  Ginkgo Bioworks Holdings, Inc., Class A\* | 1384 | 20179 |
|  Lifecore Biomedical, Inc.\* | 1093 | 8044 |
|  Maravai LifeSciences Holdings, Inc., Class A(x)\* | 3055 | 8768 |
|  MaxCyte, Inc.\* | 4124 | 6516 |
|  Mesa Laboratories, Inc. | 200 | 13402 |
|  Niagen Bioscience, Inc.\* | 1791 | 16710 |
|  OmniAb, Inc.\* | 3388 | 5421 |
|  Pacific Biosciences of California, Inc.\* | 10163 | 13009 |
|  Personalis, Inc.\* | 1797 | 11716 |
|  Quanterix Corp.\* | 1465 | 7955 |
|  Quantum-Si, Inc.(x)\* | 3948 | 5567 |
|  Standard BioTools, Inc.\* | 11628 | 15116 |
|  |  | 746457 |
|  ***Pharmaceuticals (0.8%)*** |  |  |
|  Aardvark Therapeutics, Inc.\* | 290 | 3854 |
|  Aclaris Therapeutics, Inc.\* | 3120 | 5928 |
|  Alumis, Inc.\* | 2053 | 8192 |
|  Amneal Pharmaceuticals, Inc.\* | 5306 | 53113 |
|  Amphastar Pharmaceuticals, Inc.\* | 1319 | 35151 |
|  Amylyx Pharmaceuticals, Inc.\* | 2492 | 33866 |
|  ANI Pharmaceuticals, Inc.\* | 635 | 58166 |
|  Aquestive Therapeutics, Inc.(x)\* | 3146 | 17586 |
|  Arvinas, Inc.\* | 2367 | 20167 |
|  Atea Pharmaceuticals, Inc.\* | 2282 | 6618 |
|  Avadel Pharmaceuticals plc (ADR)\* | 3084 | 47093 |
|  Axsome Therapeutics, Inc.\* | 1419 | 172338 |
|  BioAge Labs, Inc.\* | 580 | 3410 |
|  Biote Corp., Class A\* | 1326 | 3978 |
|  Collegium Pharmaceutical, Inc.\* | 1168 | 40868 |
|  CorMedix, Inc.(x)\* | 2595 | 30180 |
|  Crinetics Pharmaceuticals, Inc.\* | 3143 | 130906 |
|  Edgewise Therapeutics, Inc.\* | 2310 | 37468 |
|  Enliven Therapeutics, Inc.\* | 1420 | 29067 |
|  Esperion Therapeutics, Inc.\* | 6236 | 16525 |
|  Eton Pharmaceuticals, Inc.\* | 918 | 19948 |
|  Evolus, Inc.\* | 2134 | 13103 |
|  EyePoint Pharmaceuticals, Inc.\* | 2002 | 28509 |
|  Fulcrum Therapeutics, Inc.\* | 1195 | 10994 |
|  Harmony Biosciences Holdings, Inc.\* | 1558 | 42939 |
|  Harrow, Inc.(x)\* | 1161 | 55937 |
|  Indivior plc\* | 4364 | 105216 |
|  Innoviva, Inc.\* | 2232 | 40734 |
|  Journey Medical Corp.\* | 657 | 4678 |
|  LENZ Therapeutics, Inc.(x)\* | 518 | 24129 |
|  Ligand Pharmaceuticals, Inc.\* | 664 | 117621 |
|  Liquidia Corp.\* | 2295 | 52188 |
|  Maze Therapeutics, Inc.(x)\* | 665 | 17244 |
|  MBX Biosciences, Inc.\* | 333 | 5828 |
|  MediWound Ltd.\* | 306 | 5514 |
|  Mind Medicine MindMed, Inc.(x)\* | 2598 | 30630 |
|  Nuvation Bio, Inc.(x)\* | 9384 | 34721 |
|  Ocular Therapeutix, Inc.\* | 5068 | 59245 |
|  Omeros Corp.(x)\* | 2142 | 8782 |
|  Pacira BioSciences, Inc.\* | 1664 | 42881 |
|  Phathom Pharmaceuticals, Inc.\* | 1412 | 16619 |
|  Phibro Animal Health Corp., Class A | 692 | 27998 |
|  Prestige Consumer Healthcare, Inc.\* | 1760 | 109824 |
|  Rapport Therapeutics, Inc.\* | 554 | 16454 |
|  scPharmaceuticals, Inc.\* | 1270 | 7201 |
|  Septerna, Inc.(x)\* | 603 | 11342 |
|  SIGA Technologies, Inc. | 1247 | 11410 |
|  Supernus Pharmaceuticals, Inc.\* | 1862 | 88985 |
|  Tarsus Pharmaceuticals, Inc.\* | 1358 | 80706 |
|  Terns Pharmaceuticals, Inc.\* | 2594 | 19481 |
|  Theravance Biopharma, Inc.\* | 1240 | 18104 |
|  Third Harmonic Bio, Inc.(r)\* | 857 |  |
|  Trevi Therapeutics, Inc.\* | 3291 | 30113 |
|  Tvardi Therapeutics, Inc.(x)\* | 160 | 6235 |
|  WaVe Life Sciences Ltd.\* | 4254 | 31139 |
|  Xeris Biopharma Holdings, Inc.\* | 5030 | 40944 |
|  Zevra Therapeutics, Inc.\* | 1856 | 17651 |
|  |  | 2009521 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 19618326 |
|  **Industrials (18.6%)** |  |  |
|  ***Aerospace & Defense (4.8%)*** |  |  |
|  AAR Corp.\* | 1281 | 114867 |
|  AeroVironment, Inc.\* | 1122 | 353307 |
|  AerSale Corp.\* | 1291 | 10573 |
|  AIRO Group Holdings, Inc.\* | 243 | 4666 |
|  Archer Aviation, Inc., Class A\* | 19155 | 183505 |
|  Astronics Corp.\* | 1071 | 48848 |
|  Babcock International Group plc | 83959 | 1501789 |
|  Byrna Technologies, Inc.(x)\* | 674 | 14936 |
|  Cadre Holdings, Inc. | 952 | 34758 |
|  Ducommun, Inc.\* | 499 | 47969 |
|  Eve Holding, Inc.(x)\* | 1734 | 6607 |
|  Intuitive Machines, Inc.(x)\* | 3944 | 41491 |
|  Kratos Defense & Security Solutions, Inc.\* | 5868 | 536159 |
|  Melrose Industries plc | 322645 | 2641737 |
|  Mercury Systems, Inc.\* | 1829 | 141565 |
|  Moog, Inc., Class A | 979 | 203309 |
|  National Presto Industries, Inc. | 186 | 20860 |
|  Park Aerospace Corp. | 557 | 11329 |
|  QinetiQ Group plc | 473363 | 3498259 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Redwire Corp.(x)\* | 1760 | $15822 |
|  Satellogic, Inc., Class A(x)\* | 2414 | 7918 |
|  Senior plc | 823110 | 2198503 |
|  V2X, Inc.\* | 699 | 40605 |
|  Voyager Technologies, Inc., Class A(x)\* | 427 | 12716 |
|  VSE Corp. | 706 | 117365 |
|  |  | 11809463 |
|  ***Air Freight & Logistics (0.0%)†*** |  |  |
|  Forward Air Corp.\* | 716 | 18358 |
|  Hub Group, Inc., Class A | 2176 | 74941 |
|  Radiant Logistics, Inc.\* | 885 | 5222 |
|  |  | 98521 |
|  ***Building Products (1.6%)*** |  |  |
|  American Woodmark Corp.\* | 10099 | 674209 |
|  Apogee Enterprises, Inc. | 698 | 30412 |
|  AZZ, Inc. | 1045 | 114041 |
|  CSW Industrials, Inc. | 567 | 137639 |
|  Gibraltar Industries, Inc.\* | 1015 | 63742 |
|  Griffon Corp. | 1333 | 101508 |
|  Insteel Industries, Inc. | 683 | 26186 |
|  Janus International Group, Inc.\* | 4919 | 48551 |
|  JELD-WEN Holding, Inc.\* | 3265 | 16031 |
|  Masterbrand, Inc.\* | 4554 | 59976 |
|  Quanex Building Products Corp. | 1759 | 25013 |
|  Resideo Technologies, Inc.\* | 35784 | 1545153 |
|  Tecnoglass, Inc. | 880 | 58881 |
|  UFP Industries, Inc. | 8860 | 828322 |
|  Zurn Elkay Water Solutions Corp. | 5269 | 247801 |
|  |  | 3977465 |
|  ***Commercial Services & Supplies (1.3%)*** |  |  |
|  ABM Industries, Inc. | 2208 | 101833 |
|  ACCO Brands Corp. | 3613 | 14416 |
|  Acme United Corp.(x) | 114 | 4695 |
|  ACV Auctions, Inc., Class A\* | 6023 | 59688 |
|  Brady Corp., Class A | 6864 | 535598 |
|  BrightView Holdings, Inc.\* | 2221 | 29761 |
|  Brink's Co. (The) | 1483 | 173303 |
|  Casella Waste Systems, Inc., Class A\* | 2208 | 209495 |
|  CECO Environmental Corp.\* | 1064 | 54477 |
|  Cimpress plc\* | 534 | 33663 |
|  CompX International, Inc.(x) | 68 | 1591 |
|  CoreCivic, Inc.\* | 3764 | 76597 |
|  Deluxe Corp. | 1450 | 28072 |
|  Driven Brands Holdings, Inc.\* | 2183 | 35168 |
|  Ennis, Inc. | 866 | 15830 |
|  Enviri Corp.\* | 2826 | 35862 |
|  GEO Group, Inc. (The)\* | 4712 | 96549 |
|  Healthcare Services Group, Inc.\* | 2698 | 45407 |
|  HNI Corp. | 16033 | 751146 |
|  Interface, Inc., Class A | 1985 | 57446 |
|  Liquidity Services, Inc.\* | 824 | 22602 |
|  MillerKnoll, Inc. | 2363 | 41920 |
|  Mobile Infrastructure Corp., Class A(x)\* | 1116 | 3928 |
|  Montrose Environmental Group, Inc.\* | 1073 | 29465 |
|  MSA Safety, Inc. | 2852 | 490744 |
|  NL Industries, Inc. | 460 | 2829 |
|  OPENLANE, Inc.\* | 3688 | 106141 |
|  Perma-Fix Environmental Services, Inc.(x)\* | 555 | 5605 |
|  Pitney Bowes, Inc.(x) | 6063 | 69179 |
|  Quad/Graphics, Inc. | 1010 | 6323 |
|  Steelcase, Inc., Class A | 2930 | 50396 |
|  UniFirst Corp. | 525 | 87775 |
|  Vestis Corp. | 4119 | 18659 |
|  Virco Mfg. Corp.(x) | 456 | 3534 |
|  |  | 3299697 |
|  ***Construction & Engineering (2.5%)*** |  |  |
|  Ameresco, Inc., Class A\* | 1104 | 37072 |
|  Arcosa, Inc. | 1721 | 161275 |
|  Argan, Inc. | 459 | 123953 |
|  Bowman Consulting Group Ltd., Class A\* | 458 | 19401 |
|  Centuri Holdings, Inc.\* | 2456 | 51993 |
|  Concrete Pumping Holdings, Inc. | 789 | 5562 |
|  Construction Partners, Inc., Class A\* | 1654 | 210058 |
|  Dycom Industries, Inc.\* | 987 | 287967 |
|  Fluor Corp.\* | 5768 | 242660 |
|  Granite Construction, Inc.(x) | 1533 | 168093 |
|  Great Lakes Dredge & Dock Corp.\* | 2537 | 30419 |
|  IES Holdings, Inc.(x)\* | 314 | 124862 |
|  Limbach Holdings, Inc.(x)\* | 376 | 36517 |
|  Matrix Service Co.\* | 867 | 11340 |
|  MYR Group, Inc.\* | 530 | 110256 |
|  NWPX Infrastructure, Inc.\* | 382 | 20219 |
|  Orion Group Holdings, Inc.\* | 1299 | 10808 |
|  Primoris Services Corp. | 1911 | 262438 |
|  Southland Holdings, Inc.\* | 165 | 708 |
|  Sterling Infrastructure, Inc.\* | 1051 | 357004 |
|  Tutor Perini Corp.\* | 1581 | 103698 |
|  Valmont Industries, Inc. | 9041 | 3505467 |
|  WillScot Holdings Corp. | 12915 | 272636 |
|  |  | 6154406 |
|  ***Electrical Equipment (1.8%)*** |  |  |
|  Allient, Inc. | 541 | 24210 |
|  American Superconductor Corp.\* | 1533 | 91045 |
|  Amprius Technologies, Inc.(x)\* | 3300 | 34716 |
|  Array Technologies, Inc.\* | 5092 | 41500 |
|  Atkore, Inc. | 1161 | 72841 |
|  Bloom Energy Corp., Class A\* | 7544 | 637996 |
|  Complete Solaria, Inc.(x)\* | 2593 | 4564 |
|  EnerSys | 1349 | 152383 |
|  Enovix Corp.(x)\* | 5903 | 58853 |
|  Eos Energy Enterprises, Inc.(x)\* | 8904 | 101416 |
|  Fluence Energy, Inc., Class A(x)\* | 2520 | 27216 |
|  Hyliion Holdings Corp.(x)\* | 3025 | 5959 |
|  KULR Technology Group, Inc.(x)\* | 1135 | 4722 |
|  LSI Industries, Inc. | 953 | 22500 |
|  NANO Nuclear Energy, Inc.(x)\* | 1078 | 41568 |
|  Net Power, Inc.(x)\* | 896 | 2697 |
|  NEXTracker, Inc., Class A\* | 5098 | 377201 |
|  NuScale Power Corp., Class A(x)\* | 4449 | 160164 |
|  Plug Power, Inc.(x)\* | 37632 | 87683 |
|  Powell Industries, Inc.(x) | 341 | 103940 |
|  Power Solutions International, Inc.\* | 237 | 23278 |
|  Preformed Line Products Co. | 97 | 19026 |
|  Regal Rexnord Corp. | 15355 | 2202521 |
|  Shoals Technologies Group, Inc., Class A\* | 5773 | 42778 |
|  SKYX Platforms Corp.(x)\* | 3803 | 4259 |
|  Sunrun, Inc.\* | 7425 | 128378 |
|  T1 Energy, Inc.(x)\* | 4749 | 10353 |
|  Thermon Group Holdings, Inc.\* | 1194 | 31904 |
|  Vicor Corp.\* | 822 | 40870 |
|  |  | 4556541 |
|  ***Ground Transportation (0.5%)*** |  |  |
|  ArcBest Corp. | 751 | 52472 |
|  Covenant Logistics Group, Inc., Class A | 461 | 9985 |
|  FTAI Infrastructure, Inc. | 3446 | 15025 |
|  Heartland Express, Inc. | 1818 | 15235 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Hertz Global Holdings, Inc.(x)\* | 4459 | $30321 |
|  Knight-Swift Transportation Holdings, Inc., Class A | 3099 | 122442 |
|  Marten Transport Ltd. | 2197 | 23420 |
|  PAMT Corp.\* | 268 | 3055 |
|  Proficient Auto Logistics, Inc.(x)\* | 686 | 4727 |
|  RXO, Inc.\* | 62429 | 960158 |
|  Universal Logistics Holdings, Inc.(x) | 234 | 5485 |
|  Werner Enterprises, Inc. | 1839 | 48402 |
|  |  | 1290727 |
|  ***Industrial Conglomerates (0.0%)†*** |  |  |
|  Brookfield Business Corp., Class A | 780 | 26153 |
|  ***Machinery (4.0%)*** |  |  |
|  3D Systems Corp.\* | 5273 | 15292 |
|  Aebi Schmidt Holding AG | 1385 | 17271 |
|  AirJoule Technologies Corp.\* | 1001 | 4695 |
|  Alamo Group, Inc. | 353 | 67388 |
|  Albany International Corp., Class A | 1066 | 56818 |
|  Astec Industries, Inc. | 820 | 39467 |
|  Atmus Filtration Technologies, Inc. | 2948 | 132925 |
|  Blue Bird Corp.\* | 1084 | 62384 |
|  Chart Industries, Inc.\* | 1586 | 317438 |
|  Columbus McKinnon Corp. | 1017 | 14584 |
|  Douglas Dynamics, Inc. | 718 | 22445 |
|  Eastern Co. (The) | 217 | 5091 |
|  Energy Recovery, Inc.\* | 2018 | 31118 |
|  Enerpac Tool Group Corp., Class A | 1870 | 76670 |
|  Enpro, Inc. | 739 | 167014 |
|  ESCO Technologies, Inc. | 918 | 193799 |
|  Federal Signal Corp. | 2116 | 251783 |
|  Franklin Electric Co., Inc. | 1390 | 132328 |
|  Gates Industrial Corp. plc\* | 121156 | 3007092 |
|  Gencor Industries, Inc.\* | 464 | 6788 |
|  Gorman-Rupp Co. (The) | 720 | 33415 |
|  Graham Corp.\* | 359 | 19709 |
|  Greenbrier Cos., Inc. (The) | 1106 | 51064 |
|  Helios Technologies, Inc. | 1121 | 58438 |
|  Hillenbrand, Inc. | 2488 | 67275 |
|  Hillman Solutions Corp.\* | 6898 | 63324 |
|  Hyster-Yale, Inc. | 442 | 16292 |
|  JBT Marel Corp. | 1837 | 258007 |
|  Kadant, Inc. | 410 | 122008 |
|  Kennametal, Inc. | 2741 | 57369 |
|  L B Foster Co., Class A\* | 384 | 10349 |
|  Lindsay Corp. | 371 | 52148 |
|  Luxfer Holdings plc | 1050 | 14595 |
|  Manitowoc Co., Inc. (The)\* | 1000 | 10010 |
|  Mayville Engineering Co., Inc.\* | 486 | 6687 |
|  Microvast Holdings, Inc.(x)\* | 7120 | 27412 |
|  Middleby Corp. (The)\* | 11857 | 1576151 |
|  Miller Industries, Inc. | 427 | 17259 |
|  Mueller Water Products, Inc., Class A | 62185 | 1586961 |
|  Omega Flex, Inc. | 149 | 4647 |
|  Palladyne AI Corp.(x)\* | 913 | 7843 |
|  Park-Ohio Holdings Corp. | 369 | 7838 |
|  Proto Labs, Inc.\* | 812 | 40624 |
|  REV Group, Inc. | 1714 | 97132 |
|  Richtech Robotics, Inc., Class B(x)\* | 2352 | 10090 |
|  SPX Technologies, Inc.\* | 1699 | 317339 |
|  Standex International Corp. | 418 | 88574 |
|  Tennant Co. | 650 | 52689 |
|  Terex Corp. | 2218 | 113783 |
|  Titan International, Inc.\* | 1699 | 12844 |
|  Trinity Industries, Inc. | 2785 | 78091 |
|  Wabash National Corp. | 1593 | 15723 |
|  Watts Water Technologies, Inc., Class A | 966 | 269784 |
|  Worthington Enterprises, Inc. | 1077 | 59763 |
|  |  | 9847627 |
|  ***Marine Transportation (0.1%)*** |  |  |
|  Costamare Bulkers Holdings Ltd.\* | 325 | 4670 |
|  Costamare, Inc. | 1629 | 19401 |
|  Genco Shipping & Trading Ltd.(x) | 1277 | 22731 |
|  Himalaya Shipping Ltd. | 1210 | 9958 |
|  Matson, Inc. | 1159 | 114266 |
|  Pangaea Logistics Solutions Ltd. | 996 | 5060 |
|  Safe Bulkers, Inc. | 2395 | 10634 |
|  |  | 186720 |
|  ***Passenger Airlines (0.2%)*** |  |  |
|  Allegiant Travel Co.\* | 500 | 30385 |
|  Frontier Group Holdings, Inc.\* | 2999 | 13241 |
|  JetBlue Airways Corp.(x)\* | 11267 | 55434 |
|  Joby Aviation, Inc.(x)\* | 16194 | 261371 |
|  SkyWest, Inc.\* | 1409 | 141773 |
|  Strata Critical Medical, Inc.\* | 2500 | 12650 |
|  Sun Country Airlines Holdings, Inc.\* | 1942 | 22935 |
|  |  | 537789 |
|  ***Professional Services (0.8%)*** |  |  |
|  Acuren Corp.\* | 5997 | 79820 |
|  Alight, Inc., Class A | 15091 | 49197 |
|  Asure Software, Inc.\* | 830 | 6806 |
|  Barrett Business Services, Inc. | 861 | 38160 |
|  BlackSky Technology, Inc., Class A(x)\* | 1127 | 22709 |
|  CBIZ, Inc.\* | 1719 | 91038 |
|  Conduent, Inc.\* | 6227 | 17436 |
|  CRA International, Inc. | 225 | 46919 |
|  CSG Systems International, Inc. | 1014 | 65281 |
|  Exponent, Inc. | 1728 | 120061 |
|  First Advantage Corp.\* | 2847 | 43815 |
|  Forrester Research, Inc.\* | 473 | 5014 |
|  Franklin Covey Co.\* | 446 | 8657 |
|  Heidrick & Struggles International, Inc. | 743 | 36979 |
|  HireQuest, Inc.(x) | 236 | 2270 |
|  Huron Consulting Group, Inc.\* | 617 | 90557 |
|  IBEX Holdings Ltd.\* | 343 | 13898 |
|  ICF International, Inc. | 630 | 58464 |
|  Innodata, Inc.(x)\* | 1095 | 84392 |
|  Insperity, Inc. | 1315 | 64698 |
|  Kelly Services, Inc., Class A | 1215 | 15941 |
|  Kforce, Inc. | 698 | 20926 |
|  Korn Ferry | 1838 | 128623 |
|  Legalzoom.com, Inc.\* | 3963 | 41136 |
|  Maximus, Inc. | 1983 | 181187 |
|  Mistras Group, Inc.\* | 401 | 3946 |
|  Planet Labs PBC\* | 7921 | 102815 |
|  RCM Technologies, Inc.\* | 197 | 5230 |
|  Resolute Holdings Management, Inc.\* | 180 | 12987 |
|  Resources Connection, Inc. | 1162 | 5868 |
|  Skillsoft Corp.(x)\* | 301 | 3919 |
|  Spire Global, Inc.(x)\* | 945 | 10386 |
|  TriNet Group, Inc. | 1059 | 70837 |
|  TrueBlue, Inc.\* | 1267 | 7767 |
|  TTEC Holdings, Inc.\* | 825 | 2772 |
|  Upwork, Inc.\* | 4248 | 78885 |
|  Verra Mobility Corp., Class A\* | 5529 | 136566 |
|  Willdan Group, Inc.\* | 462 | 44671 |
|  WNS Holdings Ltd.\* | 1315 | 100295 |
|  |  | 1920928 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  ***Trading Companies & Distributors (1.0%)*** |  |  |
|  Alta Equipment Group, Inc. | 939 | $6798 |
|  BlueLinx Holdings, Inc.\* | 244 | 17831 |
|  Boise Cascade Co. | 1296 | 100207 |
|  Custom Truck One Source, Inc.\* | 1990 | 12776 |
|  Distribution Solutions Group, Inc.\* | 278 | 8362 |
|  DNOW, Inc.\* | 3527 | 53787 |
|  DXP Enterprises, Inc.\* | 448 | 53343 |
|  EVI Industries, Inc. | 209 | 6606 |
|  GATX Corp. | 1272 | 222346 |
|  Global Industrial Co. | 539 | 19765 |
|  Herc Holdings, Inc. | 1140 | 132992 |
|  Hudson Technologies, Inc.\* | 1218 | 12095 |
|  Karat Packaging, Inc. | 208 | 5244 |
|  McGrath RentCorp | 12896 | 1512701 |
|  MRC Global, Inc.\* | 2991 | 43130 |
|  NPK International, Inc.\* | 2619 | 29621 |
|  Rush Enterprises, Inc., Class A | 2099 | 112234 |
|  Rush Enterprises, Inc., Class B | 317 | 18202 |
|  Titan Machinery, Inc.\* | 794 | 13292 |
|  Transcat, Inc.\* | 346 | 25327 |
|  Willis Lease Finance Corp. | 99 | 13572 |
|  Xometry, Inc., Class A(x)\* | 1507 | 82086 |
|  |  | 2502317 |
|  ***Transportation Infrastructure (0.0%)†*** |  |  |
|  Sky Harbour Group Corp.\* | 929 | 9169 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 46217523 |
|  **Information Technology (12.7%)** |  |  |
|  ***Communications Equipment (0.4%)*** |  |  |
|  ADTRAN Holdings, Inc.\* | 2755 | 25842 |
|  Applied Optoelectronics, Inc.(x)\* | 1932 | 50097 |
|  Aviat Networks, Inc.\* | 434 | 9952 |
|  BK Technologies Corp.\* | 97 | 8195 |
|  Calix, Inc.\* | 2089 | 128202 |
|  Clearfield, Inc.\* | 366 | 12583 |
|  CommScope Holding Co., Inc.\* | 7463 | 115527 |
|  Digi International, Inc.\* | 1321 | 48164 |
|  Extreme Networks, Inc.\* | 4701 | 97076 |
|  Harmonic, Inc.\* | 4158 | 42328 |
|  Inseego Corp.\* | 554 | 8293 |
|  NETGEAR, Inc.\* | 1024 | 33167 |
|  NetScout Systems, Inc.\* | 2497 | 64497 |
|  Ribbon Communications, Inc.\* | 3619 | 13752 |
|  Viasat, Inc.\* | 4094 | 119954 |
|  Viavi Solutions, Inc.\* | 7607 | 96533 |
|  |  | 874162 |
|  ***Electronic Equipment, Instruments & Components (4.5%)*** |  |  |
|  908 Devices, Inc.(x)\* | 903 | 7910 |
|  Advanced Energy Industries, Inc. | 1325 | 225435 |
|  Aeva Technologies, Inc.\* | 1107 | 16051 |
|  Arlo Technologies, Inc.\* | 3520 | 59664 |
|  Badger Meter, Inc. | 1042 | 186080 |
|  Bel Fuse, Inc., Class A | 43 | 5003 |
|  Bel Fuse, Inc., Class B | 361 | 50908 |
|  Belden, Inc. | 1390 | 167175 |
|  Benchmark Electronics, Inc. | 57600 | 2220480 |
|  Climb Global Solutions, Inc. | 126 | 16990 |
|  CTS Corp. | 1021 | 40779 |
|  Daktronics, Inc.\* | 1327 | 27761 |
|  ePlus, Inc. | 903 | 64122 |
|  Evolv Technologies Holdings, Inc.\* | 3981 | 30057 |
|  Fabrinet\* | 1271 | 463432 |
|  Frequency Electronics, Inc.\* | 230 | 7799 |
|  Insight Enterprises, Inc.\* | 1003 | 113750 |
|  Itron, Inc.\* | 1597 | 198922 |
|  Kimball Electronics, Inc.\* | 807 | 24097 |
|  Knowles Corp.\* | 94174 | 2195196 |
|  Methode Electronics, Inc. | 1199 | 9052 |
|  MicroVision, Inc.(x)\* | 7782 | 9650 |
|  Mirion Technologies, Inc., Class A\* | 8109 | 188615 |
|  M-Tron Industries, Inc.\* | 117 | 6491 |
|  Napco Security Technologies, Inc. | 1180 | 50681 |
|  Neonode, Inc.\* | 370 | 1291 |
|  nLight, Inc.\* | 1625 | 48149 |
|  Novanta, Inc.\* | 1287 | 128893 |
|  OSI Systems, Inc.\* | 563 | 140322 |
|  Ouster, Inc.\* | 1833 | 49583 |
|  PAR Technology Corp.(x)\* | 1439 | 56956 |
|  PC Connection, Inc. | 422 | 26160 |
|  Plexus Corp.\* | 943 | 136443 |
|  Powerfleet, Inc.(x)\* | 4832 | 25320 |
|  Red Cat Holdings, Inc.(x)\* | 3171 | 32820 |
|  Richardson Electronics Ltd. | 526 | 5150 |
|  Rogers Corp.\* | 662 | 53265 |
|  Sanmina Corp.\* | 4583 | 527549 |
|  ScanSource, Inc.\* | 704 | 30969 |
|  TTM Technologies, Inc.\* | 6260 | 360576 |
|  Vishay Intertechnology, Inc. | 4185 | 64031 |
|  Vishay Precision Group, Inc.\* | 431 | 13814 |
|  Vontier Corp. | 73691 | 3092811 |
|  Vuzix Corp.(x)\* | 2210 | 6917 |
|  |  | 11187119 |
|  ***IT Services (0.2%)*** |  |  |
|  Applied Digital Corp.\* | 7502 | 172096 |
|  ASGN, Inc.\* | 1453 | 68800 |
|  Backblaze, Inc., Class A\* | 1691 | 15692 |
|  BigBear.ai Holdings, Inc.(x)\* | 10404 | 67834 |
|  Commerce.com, Inc.\* | 2000 | 9980 |
|  Crexendo, Inc.\* | 790 | 5135 |
|  CSP, Inc. | 407 | 4701 |
|  DigitalOcean Holdings, Inc.\* | 2414 | 82462 |
|  Fastly, Inc., Class A\* | 4596 | 39296 |
|  Grid Dynamics Holdings, Inc.\* | 2299 | 17725 |
|  Hackett Group, Inc. (The) | 930 | 17679 |
|  Information Services Group, Inc. | 1731 | 9953 |
|  Rackspace Technology, Inc.\* | 2744 | 3869 |
|  TSS, Inc.(x)\* | 657 | 11898 |
|  Tucows, Inc., Class A\* | 330 | 6123 |
|  Unisys Corp.\* | 2335 | 9107 |
|  VTEX, Class A\* | 2039 | 8931 |
|  |  | 551281 |
|  ***Semiconductors & Semiconductor Equipment (3.1%)*** |  |  |
|  ACM Research, Inc., Class A\* | 1737 | 67969 |
|  Aehr Test Systems(x)\* | 967 | 29116 |
|  Aeluma, Inc.(x)\* | 326 | 5249 |
|  Alpha & Omega Semiconductor Ltd.\* | 912 | 25500 |
|  Ambarella, Inc.\* | 1413 | 116601 |
|  Ambiq Micro, Inc.\* | 149 | 4458 |
|  Atomera, Inc.(x)\* | 963 | 4256 |
|  Axcelis Technologies, Inc.\* | 1120 | 109357 |
|  Blaize Holdings, Inc.(x)\* | 2142 | 7390 |
|  CEVA, Inc.\* | 902 | 23822 |
|  Cohu, Inc.\* | 1682 | 34195 |
|  Credo Technology Group Holding Ltd.\* | 5211 | 758774 |
|  Diodes, Inc.\* | 1634 | 86945 |
|  FormFactor, Inc.\* | 2800 | 101976 |
|  Ichor Holdings Ltd.\* | 1247 | 21847 |
|  Impinj, Inc.\* | 909 | 164302 |
|  indie Semiconductor, Inc., Class A(x)\* | 5874 | 23907 |
|  Kopin Corp.\* | 5171 | 12566 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Kulicke & Soffa Industries, Inc. | 1860 | $75590 |
|  MaxLinear, Inc., Class A\* | 2878 | 46278 |
|  MKS, Inc. | 26538 | 3284608 |
|  Navitas Semiconductor Corp., Class A(x)\* | 4929 | 35587 |
|  NVE Corp. | 179 | 11683 |
|  Onto Innovation, Inc.\* | 8134 | 1051076 |
|  PDF Solutions, Inc.\* | 1199 | 30958 |
|  Penguin Solutions, Inc.(x)\* | 1907 | 50116 |
|  Photronics, Inc.\* | 2007 | 46061 |
|  Power Integrations, Inc. | 1939 | 77967 |
|  Rambus, Inc.\* | 3790 | 394918 |
|  Rigetti Computing, Inc.(x)\* | 11227 | 334452 |
|  Semtech Corp.\* | 3065 | 218994 |
|  Silicon Laboratories, Inc.\* | 1128 | 147915 |
|  SiTime Corp.\* | 743 | 223873 |
|  SkyWater Technology, Inc.\* | 1127 | 21030 |
|  Synaptics, Inc.\* | 1314 | 89799 |
|  Ultra Clean Holdings, Inc.\* | 1582 | 43110 |
|  Veeco Instruments, Inc.\* | 1886 | 57391 |
|  |  | 7839636 |
|  ***Software (4.2%)*** |  |  |
|  8x8, Inc.\* | 4741 | 10051 |
|  A10 Networks, Inc. | 2613 | 47426 |
|  ACI Worldwide, Inc.\* | 80533 | 4249726 |
|  Adeia, Inc. | 3979 | 66847 |
|  Agilysys, Inc.\* | 890 | 93672 |
|  Airship AI Holdings, Inc.(x)\* | 966 | 4994 |
|  Alarm.com Holdings, Inc.\* | 1669 | 88591 |
|  Alkami Technology, Inc.\* | 2464 | 61206 |
|  Amplitude, Inc., Class A\* | 3226 | 34583 |
|  Appian Corp., Class A\* | 1448 | 44265 |
|  Arteris, Inc.\* | 1169 | 11807 |
|  Asana, Inc., Class A(x)\* | 2956 | 39492 |
|  AudioEye, Inc.\* | 271 | 3756 |
|  AvePoint, Inc.\* | 4815 | 72273 |
|  Bit Digital, Inc.(x)\* | 10741 | 32223 |
|  Bitdeer Technologies Group, Class A(x)\* | 3228 | 55167 |
|  Blackbaud, Inc.\* | 1368 | 87976 |
|  BlackLine, Inc.\* | 1789 | 94996 |
|  Blend Labs, Inc., Class A\* | 7942 | 28988 |
|  Box, Inc., Class A\* | 4894 | 157929 |
|  Braze, Inc., Class A\* | 2752 | 78267 |
|  C3.ai, Inc., Class A(x)\* | 4369 | 75758 |
|  Cerence, Inc.(x)\* | 1633 | 20347 |
|  Cipher Mining, Inc.(x)\* | 9526 | 119932 |
|  Cleanspark, Inc.(x)\* | 9588 | 139026 |
|  Clear Secure, Inc., Class A | 2897 | 96702 |
|  Clearwater Analytics Holdings, Inc., Class A\* | 8606 | 155080 |
|  Commvault Systems, Inc.\* | 1570 | 296385 |
|  Consensus Cloud Solutions, Inc.\* | 653 | 19179 |
|  Core Scientific, Inc.(x)\* | 9968 | 178826 |
|  CoreCard Corp.\* | 196 | 5276 |
|  CS Disco, Inc.\* | 1040 | 6718 |
|  Daily Journal Corp.\* | 49 | 22792 |
|  Digimarc Corp.(x)\* | 578 | 5647 |
|  Digital Turbine, Inc.(x)\* | 3461 | 22150 |
|  Domo, Inc., Class B\* | 1032 | 16347 |
|  D-Wave Quantum, Inc.(x)\* | 10823 | 267436 |
|  eGain Corp.\* | 715 | 6228 |
|  EverCommerce, Inc.\* | 742 | 8258 |
|  Expensify, Inc., Class A\* | 2056 | 3804 |
|  Five9, Inc.\* | 2748 | 66502 |
|  Freshworks, Inc., Class A\* | 7235 | 85156 |
|  Hut 8 Corp.\* | 3252 | 113202 |
|  I3 Verticals, Inc., Class A(x)\* | 823 | 26715 |
|  Intapp, Inc.\* | 2034 | 83191 |
|  InterDigital, Inc. | 913 | 315195 |
|  Jamf Holding Corp.\* | 2392 | 25594 |
|  Kaltura, Inc.\* | 3651 | 5257 |
|  Life360, Inc.(x)\* | 583 | 61973 |
|  LiveRamp Holdings, Inc.\* | 2338 | 63453 |
|  MARA Holdings, Inc.(x)\* | 12997 | 237325 |
|  Mercurity Fintech Holding, Inc.(x)\* | 1176 | 28906 |
|  Meridianlink, Inc.\* | 1177 | 23458 |
|  Mitek Systems, Inc.\* | 1587 | 15505 |
|  N-able, Inc.\* | 2827 | 22051 |
|  NCR Voyix Corp.\* | 4777 | 59951 |
|  NextNav, Inc.\* | 3007 | 43000 |
|  ON24, Inc.\* | 1375 | 7865 |
|  OneSpan, Inc. | 1361 | 21626 |
|  Ooma, Inc.\* | 1003 | 12026 |
|  Pagaya Technologies Ltd., Class A\* | 1643 | 48781 |
|  PagerDuty, Inc.\* | 3090 | 51047 |
|  Porch Group, Inc.\* | 2870 | 48159 |
|  Progress Software Corp.\* | 1525 | 66993 |
|  PROS Holdings, Inc.(x)\* | 1646 | 37710 |
|  Q2 Holdings, Inc.\* | 2161 | 156435 |
|  Qualys, Inc.\* | 1263 | 167133 |
|  Rapid7, Inc.\* | 2244 | 42075 |
|  Red Violet, Inc. | 433 | 22624 |
|  ReposiTrak, Inc.(x) | 296 | 4387 |
|  Rezolve AI plc(x)\* | 4972 | 24761 |
|  Rimini Street, Inc.\* | 2281 | 10675 |
|  Riot Platforms, Inc.(x)\* | 12225 | 232642 |
|  Sapiens International Corp. NV | 1066 | 45838 |
|  SEMrush Holdings, Inc., Class A\* | 1421 | 10061 |
|  Silvaco Group, Inc.(x)\* | 361 | 1953 |
|  SoundHound AI, Inc., Class A(x)\* | 12827 | 206258 |
|  SoundThinking, Inc.\* | 440 | 5306 |
|  Sprinklr, Inc., Class A\* | 4186 | 32316 |
|  Sprout Social, Inc., Class A\* | 1908 | 24651 |
|  SPS Commerce, Inc.\* | 1314 | 136840 |
|  Synchronoss Technologies, Inc.\* | 743 | 4517 |
|  Telos Corp.\* | 1654 | 11313 |
|  Tenable Holdings, Inc.\* | 4337 | 126467 |
|  Terawulf, Inc.(x)\* | 10117 | 115536 |
|  Varonis Systems, Inc.\* | 3850 | 221259 |
|  Verint Systems, Inc.\* | 2206 | 44672 |
|  Vertex, Inc., Class A\* | 2349 | 58232 |
|  Viant Technology, Inc., Class A\* | 614 | 5299 |
|  Weave Communications, Inc.\* | 2064 | 13788 |
|  WM Technology, Inc.\* | 3549 | 4117 |
|  Workiva, Inc., Class A\* | 1740 | 149779 |
|  Xperi, Inc.\* | 1283 | 8314 |
|  Yext, Inc.\* | 3776 | 32172 |
|  Zeta Global Holdings Corp., Class A\* | 6508 | 129314 |
|  |  | 10449501 |
|  ***Technology Hardware, Storage & Peripherals (0.3%)*** |  |  |
|  CompoSecure, Inc., Class A\* | 1578 | 32854 |
|  Corsair Gaming, Inc.\* | 1529 | 13639 |
|  CPI Card Group, Inc.\* | 187 | 2831 |
|  Diebold Nixdorf, Inc.\* | 867 | 49445 |
|  Eastman Kodak Co.(x)\* | 2333 | 14955 |
|  Immersion Corp. | 1086 | 7971 |
|  IonQ, Inc.(x)\* | 9711 | 597226 |
|  Quantum Computing, Inc.(x)\* | 4671 | 85993 |
|  Turtle Beach Corp.\* | 392 | 6233 |
|  Xerox Holdings Corp. | 4504 | 16935 |
|  |  | 828082 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 31729781 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  **Materials (6.2%)** |  |  |
|  ***Chemicals (2.8%)*** |  |  |
|  AdvanSix, Inc. | 903 | $17500 |
|  American Vanguard Corp.\* | 1172 | 6727 |
|  Arq, Inc.\* | 1204 | 8621 |
|  Ashland, Inc. | 4792 | 229585 |
|  ASP Isotopes, Inc.(x)\* | 2648 | 25474 |
|  Aspen Aerogels, Inc.\* | 2243 | 15611 |
|  Avient Corp. | 73254 | 2413719 |
|  Balchem Corp. | 1147 | 172119 |
|  Cabot Corp. | 1854 | 140997 |
|  Chemours Co. (The) | 5406 | 85631 |
|  Core Molding Technologies, Inc.\* | 341 | 7007 |
|  Ecovyst, Inc.\* | 4209 | 36871 |
|  Elementis plc | 1342387 | 2931931 |
|  Flotek Industries, Inc.(x)\* | 505 | 7373 |
|  Hawkins, Inc. | 682 | 124615 |
|  HB Fuller Co. | 1860 | 110261 |
|  Ingevity Corp.\* | 1314 | 72520 |
|  Innospec, Inc. | 891 | 68750 |
|  Intrepid Potash, Inc.\* | 386 | 11804 |
|  Koppers Holdings, Inc. | 640 | 17920 |
|  Kronos Worldwide, Inc. | 966 | 5545 |
|  LSB Industries, Inc.\* | 1920 | 15130 |
|  Mativ Holdings, Inc. | 1784 | 20177 |
|  Minerals Technologies, Inc. | 1143 | 71003 |
|  Orion SA | 1805 | 13682 |
|  Perimeter Solutions, Inc.\* | 4847 | 108524 |
|  PureCycle Technologies, Inc.(x)\* | 4689 | 61660 |
|  Quaker Chemical Corp. | 489 | 64426 |
|  Rayonier Advanced Materials, Inc.\* | 2486 | 17949 |
|  Sensient Technologies Corp. | 1505 | 141244 |
|  Solesence, Inc.(x)\* | 878 | 2827 |
|  Stepan Co. | 780 | 37206 |
|  Trinseo plc | 1366 | 3210 |
|  Tronox Holdings plc | 4577 | 18399 |
|  Valhi, Inc. | 115 | 1815 |
|  |  | 7087833 |
|  ***Construction Materials (0.1%)*** |  |  |
|  Knife River Corp.\* | 2038 | 156661 |
|  Smith-Midland Corp.(x)\* | 40 | 1476 |
|  Titan America SA(x) | 841 | 12564 |
|  United States Lime & Minerals, Inc. | 383 | 50384 |
|  |  | 221085 |
|  ***Containers & Packaging (0.1%)*** |  |  |
|  Ardagh Metal Packaging SA | 5271 | 21031 |
|  Greif, Inc., Class A | 943 | 56354 |
|  Greif, Inc., Class B | 152 | 9365 |
|  Myers Industries, Inc. | 1413 | 23936 |
|  O-I Glass, Inc.\* | 5228 | 67807 |
|  Ranpak Holdings Corp., Class A\* | 1818 | 10217 |
|  TriMas Corp. | 1212 | 46832 |
|  |  | 235542 |
|  ***Metals & Mining (2.8%)*** |  |  |
|  Alpha Metallurgical Resources, Inc.\* | 400 | 65636 |
|  American Battery Technology Co.\* | 3651 | 17744 |
|  Ascent Industries Co.\* | 361 | 4650 |
|  Caledonia Mining Corp. plc | 595 | 21545 |
|  Century Aluminum Co.\* | 1912 | 56136 |
|  Coeur Mining, Inc.\* | 22533 | 422719 |
|  Commercial Metals Co. | 63445 | 3634130 |
|  Compass Minerals International, Inc.\* | 1251 | 24019 |
|  Constellium SE\* | 5164 | 76840 |
|  Contango ORE, Inc.\* | 350 | 8726 |
|  Critical Metals Corp.(x)\* | 857 | 5331 |
|  Dakota Gold Corp.\* | 2351 | 10697 |
|  Ferroglobe plc | 4418 | 20102 |
|  Friedman Industries, Inc. | 277 | 6065 |
|  Hecla Mining Co. | 21112 | 255455 |
|  Idaho Strategic Resources, Inc.\* | 470 | 15881 |
|  Ivanhoe Electric, Inc.\* | 2927 | 36734 |
|  Kaiser Aluminum Corp. | 581 | 44830 |
|  Lifezone Metals Ltd.\* | 592 | 3244 |
|  MAC Copper Ltd.\* | 2059 | 25140 |
|  Materion Corp. | 745 | 90003 |
|  Metallus, Inc.\* | 1104 | 18249 |
|  NioCorp Developments Ltd.(x)\* | 1908 | 12745 |
|  Novagold Resources, Inc.\* | 10607 | 93342 |
|  Olympic Steel, Inc. | 367 | 11175 |
|  Perpetua Resources Corp.\* | 2644 | 53488 |
|  Ramaco Resources, Inc., Class A\* | 1021 | 33887 |
|  Ryerson Holding Corp. | 60318 | 1378870 |
|  SSR Mining, Inc.\* | 7174 | 175189 |
|  SunCoke Energy, Inc. | 3236 | 26406 |
|  Tredegar Corp.\* | 1082 | 8688 |
|  United States Antimony Corp.(x)\* | 3390 | 21018 |
|  US Gold Corp.\* | 422 | 6955 |
|  Vox Royalty Corp.(x) | 1593 | 6850 |
|  Warrior Met Coal, Inc. | 1824 | 116079 |
|  Worthington Steel, Inc. | 1189 | 36134 |
|  |  | 6844702 |
|  ***Paper & Forest Products (0.4%)*** |  |  |
|  Clearwater Paper Corp.\* | 626 | 12996 |
|  Louisiana-Pacific Corp. | 9883 | 878006 |
|  Magnera Corp.\* | 1170 | 13712 |
|  Sylvamo Corp. | 1134 | 50145 |
|  |  | 954859 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 15344021 |
|  **Real Estate (3.6%)** |  |  |
|  ***Diversified REITs (0.5%)*** |  |  |
|  Alexander & Baldwin, Inc. (REIT) | 40170 | 730692 |
|  Alpine Income Property Trust, Inc. (REIT) | 334 | 4733 |
|  American Assets Trust, Inc. (REIT) | 1903 | 38669 |
|  Armada Hoffler Properties, Inc. (REIT) | 2784 | 19516 |
|  Broadstone Net Lease, Inc. (REIT) | 6772 | 121016 |
|  CTO Realty Growth, Inc. (REIT) | 1033 | 16838 |
|  Essential Properties Realty Trust, Inc. (REIT) | 7092 | 211058 |
|  Gladstone Commercial Corp. (REIT) | 1530 | 18849 |
|  Global Net Lease, Inc. (REIT) | 7256 | 58991 |
|  Modiv Industrial, Inc. (REIT), Class C | 320 | 4685 |
|  NexPoint Diversified Real Estate Trust (REIT) | 1564 | 5771 |
|  One Liberty Properties, Inc. (REIT) | 547 | 12100 |
|  |  | 1242918 |
|  ***Health Care REITs (0.4%)*** |  |  |
|  American Healthcare REIT, Inc. (REIT) | 5673 | 238323 |
|  CareTrust REIT, Inc. (REIT) | 7476 | 259268 |
|  Community Healthcare Trust, Inc. (REIT) | 962 | 14719 |
|  Diversified Healthcare Trust (REIT) | 7270 | 32061 |
|  Global Medical REIT, Inc. (REIT)(x) | 427 | 14394 |
|  LTC Properties, Inc. (REIT) | 1601 | 59013 |
|  National Health Investors, Inc. (REIT) | 1631 | 129664 |
|  Sabra Health Care REIT, Inc. (REIT) | 8481 | 158086 |
|  Sila Realty Trust, Inc. (REIT) | 2015 | 50576 |
|  Strawberry Fields REIT, Inc. (REIT) | 293 | 3604 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Universal Health Realty Income Trust (REIT) | 462 | $18096 |
|  |  | 977804 |
|  ***Hotel & Resort REITs (0.2%)*** |  |  |
|  Apple Hospitality REIT, Inc. (REIT) | 7685 | 92297 |
|  Braemar Hotels & Resorts, Inc. (REIT) | 2943 | 8034 |
|  Chatham Lodging Trust (REIT) | 1459 | 9790 |
|  DiamondRock Hospitality Co. (REIT) | 7399 | 58896 |
|  Pebblebrook Hotel Trust (REIT) | 4215 | 48009 |
|  RLJ Lodging Trust (REIT) | 5316 | 38275 |
|  Ryman Hospitality Properties, Inc. (REIT) | 2151 | 192708 |
|  Service Properties Trust (REIT) | 4618 | 12515 |
|  Summit Hotel Properties, Inc. (REIT) | 4063 | 22306 |
|  Sunstone Hotel Investors, Inc. (REIT) | 6392 | 59893 |
|  Xenia Hotels & Resorts, Inc. (REIT) | 3647 | 50037 |
|  |  | 592760 |
|  ***Industrial REITs (0.3%)*** |  |  |
|  Industrial Logistics Properties Trust (REIT) | 1772 | 10331 |
|  Innovative Industrial Properties, Inc. (REIT) | 937 | 50204 |
|  LXP Industrial Trust (REIT) | 10590 | 94886 |
|  Plymouth Industrial REIT, Inc. (REIT) | 1418 | 31664 |
|  STAG Industrial, Inc. (REIT) | 13789 | 486614 |
|  Terreno Realty Corp. (REIT) | 3612 | 204981 |
|  |  | 878680 |
|  ***Office REITs (0.3%)*** |  |  |
|  Brandywine Realty Trust (REIT) | 6631 | 27651 |
|  City Office REIT, Inc. (REIT) | 1704 | 11860 |
|  COPT Defense Properties (REIT) | 4011 | 116560 |
|  Douglas Emmett, Inc. (REIT) | 4645 | 72323 |
|  Easterly Government Properties, Inc. (REIT), Class A | 1499 | 34372 |
|  Empire State Realty Trust, Inc. (REIT), Class A | 4908 | 37595 |
|  Franklin Street Properties Corp. (REIT) | 4251 | 6802 |
|  Hudson Pacific Properties, Inc. (REIT)\* | 11871 | 32764 |
|  JBG SMITH Properties (REIT) | 2168 | 48238 |
|  NET Lease Office Properties (REIT) | 583 | 17292 |
|  Paramount Group, Inc. (REIT)\* | 6551 | 42843 |
|  Peakstone Realty Trust (REIT) | 1420 | 18630 |
|  Piedmont Realty Trust, Inc. (REIT) | 4275 | 38475 |
|  Postal Realty Trust, Inc. (REIT), Class A | 804 | 12615 |
|  SL Green Realty Corp. (REIT) | 2489 | 148867 |
|  |  | 666887 |
|  ***Real Estate Management & Development (0.3%)*** |  |  |
|  American Realty Investors, Inc.\* | 2 | 33 |
|  Anywhere Real Estate, Inc.\* | 3437 | 36398 |
|  Compass, Inc., Class A\* | 16454 | 132126 |
|  Cushman & Wakefield plc\* | 6741 | 107317 |
|  Douglas Elliman, Inc.\* | 2600 | 7436 |
|  eXp World Holdings, Inc.(x) | 2891 | 30818 |
|  Forestar Group, Inc.\* | 625 | 16619 |
|  FRP Holdings, Inc.\* | 447 | 10889 |
|  Kennedy-Wilson Holdings, Inc. | 4267 | 35501 |
|  Marcus & Millichap, Inc. | 825 | 24214 |
|  Maui Land & Pineapple Co., Inc.\* | 332 | 6188 |
|  Newmark Group, Inc., Class A | 5457 | 101773 |
|  RE/MAX Holdings, Inc., Class A\* | 778 | 7337 |
|  Real Brokerage, Inc. (The)\* | 4091 | 17100 |
|  RMR Group, Inc. (The), Class A | 654 | 10287 |
|  Seaport Entertainment Group, Inc.(x)\* | 240 | 5501 |
|  St Joe Co. (The) | 1292 | 63928 |
|  Stratus Properties, Inc.\* | 244 | 5163 |
|  Tejon Ranch Co.\* | 772 | 12337 |
|  Transcontinental Realty Investors, Inc.\* | 56 | 2583 |
|  |  | 633548 |
|  ***Residential REITs (0.6%)*** |  |  |
|  Apartment Investment and Management Co. (REIT), Class A | 4949 | 39246 |
|  BRT Apartments Corp. (REIT) | 500 | 7830 |
|  Centerspace (REIT) | 623 | 36695 |
|  Clipper Realty, Inc. (REIT) | 606 | 2303 |
|  Elme Communities (REIT) | 3214 | 54188 |
|  Independence Realty Trust, Inc. (REIT) | 79275 | 1299317 |
|  NexPoint Residential Trust, Inc. (REIT) | 793 | 25550 |
|  UMH Properties, Inc. (REIT) | 2834 | 42085 |
|  Veris Residential, Inc. (REIT) | 2801 | 42575 |
|  |  | 1549789 |
|  ***Retail REITs (0.8%)*** |  |  |
|  Acadia Realty Trust (REIT) | 4438 | 89426 |
|  Alexander's, Inc. (REIT) | 82 | 19228 |
|  CBL & Associates Properties, Inc. (REIT) | 600 | 18348 |
|  Curbline Properties Corp. (REIT) | 3458 | 77113 |
|  FrontView REIT, Inc. (REIT) | 387 | 5306 |
|  Getty Realty Corp. (REIT) | 1787 | 47945 |
|  InvenTrust Properties Corp. (REIT) | 2645 | 75700 |
|  Kite Realty Group Trust (REIT) | 46743 | 1042369 |
|  Macerich Co. (The) (REIT) | 9085 | 165347 |
|  NETSTREIT Corp. (REIT)(x) | 3300 | 59598 |
|  Phillips Edison & Co., Inc. (REIT) | 4470 | 153455 |
|  Saul Centers, Inc. (REIT) | 340 | 10836 |
|  SITE Centers Corp. (REIT) | 1752 | 15786 |
|  Tanger, Inc. (REIT) | 3924 | 132788 |
|  Urban Edge Properties (REIT) | 4618 | 94530 |
|  Whitestone REIT (REIT) | 1778 | 21834 |
|  |  | 2029609 |
|  ***Specialized REITs (0.2%)*** |  |  |
|  Farmland Partners, Inc. (REIT)(x) | 1718 | 18692 |
|  Four Corners Property Trust, Inc. (REIT) | 3418 | 83399 |
|  Gladstone Land Corp. (REIT)(x) | 972 | 8903 |
|  Outfront Media, Inc. (REIT) | 5072 | 92919 |
|  PotlatchDeltic Corp. (REIT) | 2790 | 113692 |
|  Safehold, Inc. (REIT) | 1836 | 28440 |
|  Smartstop Self Storage REIT, Inc. (REIT)(x) | 1015 | 38205 |
|  |  | 384250 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 8956245 |
|  **Utilities (1.8%)** |  |  |
|  ***Electric Utilities (0.8%)*** |  |  |
|  ALLETE, Inc. | 2036 | 135190 |
|  Genie Energy Ltd., Class B | 768 | 11482 |
|  Hawaiian Electric Industries, Inc.\* | 6327 | 69850 |
|  IDACORP, Inc. | 5290 | 699073 |
|  MGE Energy, Inc. | 1277 | 107498 |
|  Oklo, Inc., Class A(x)\* | 3822 | 426650 |
|  Otter Tail Corp. | 1399 | 114676 |
|  Portland General Electric Co. | 3897 | 171468 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  TXNM Energy, Inc. | 3476 | $196568 |
|  |  | 1932455 |
|  ***Gas Utilities (0.4%)*** |  |  |
|  Brookfield Infrastructure Corp., Class A | 4180 | 171881 |
|  Chesapeake Utilities Corp. | 830 | 111793 |
|  New Jersey Resources Corp. | 3559 | 171366 |
|  Northwest Natural Holding Co. | 1454 | 65328 |
|  ONE Gas, Inc. | 2171 | 175721 |
|  RGC Resources, Inc. | 352 | 7899 |
|  Southwest Gas Holdings, Inc. | 2283 | 178850 |
|  Spire, Inc. | 2102 | 171355 |
|  |  | 1054193 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  Hallador Energy Co.\* | 1107 | 21664 |
|  Montauk Renewables, Inc.\* | 2861 | 5751 |
|  Ormat Technologies, Inc. | 2144 | 206360 |
|  |  | 233775 |
|  ***Multi-Utilities (0.4%)*** |  |  |
|  Avista Corp. | 2808 | 106171 |
|  Black Hills Corp. | 12572 | 774309 |
|  Northwestern Energy Group, Inc. | 2199 | 128883 |
|  Unitil Corp. | 552 | 26419 |
|  |  | 1035782 |
|  ***Water Utilities (0.1%)*** |  |  |
|  American States Water Co. | 1313 | 96269 |
|  Cadiz, Inc.\* | 1784 | 8420 |
|  California Water Service Group | 2041 | 93662 |
|  Consolidated Water Co. Ltd. | 599 | 21133 |
|  Global Water Resources, Inc. | 500 | 5150 |
|  H2O America | 1066 | 51914 |
|  Middlesex Water Co. | 635 | 34366 |
|  Pure Cycle Corp.\* | 795 | 8801 |
|  York Water Co. (The) | 440 | 13385 |
|  |  | 333100 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 4589305 |
|  **Total Common Stocks (89.2%)**<br> *(Cost $167,609,708)* |  | 222060133 |
|  | **Number of<br>Rights** | **Value<br>(Note 1)** |
|  RIGHTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Biotechnology (0.0%)†*** |  |  |
|  Aduro Biotech, Inc., CVR (r)\* | 1038 |  |
|  Chinook Therapeutics, Inc., CVR \* | 2552 | 511 |
|  Icosavax, Inc., CVR \* | 1211 | 363 |
|  Sanofi Aatd, Inc., CVR(r)\* | 1372 | 666 |
|  |  | 1540 |
|  ***Life Sciences Tools & Services (0.0%)*** |  |  |
|  OmniAb, Inc., expiring 11/1/27(r)\* | 530 |  |
|  **Total Rights (0.0%)†<br>(***Cost $948***)** |  | 1540 |
|  | **Number of<br>Warrants** | **Value<br>(Note 1)** |
|  WARRANTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Health Care Equipment & Supplies (0.0%)†*** |  |  |
|  Pulse Biosciences, Inc., expiring 6/27/29(x)\*<br>(Cost $—) | 76 | 255 |
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  ***Investment Companies (7.6%)*** |  |  |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 800000 | 800000 |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 800000 | 800000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 2313676 | 2313676 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 14897381 | 14903339 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 18817015 |
|  **Total Short-Term Investments (7.6%)**<br> *(Cost $18,813,782)* |  | 18817015 |
|  **Total Investments in Securities (96.8%)**<br> *(Cost $186,424,438)* |  | 240878943 |
|  **Other Assets Less Liabilities (3.2%)** |  | 7965241 |
|  **Net Assets (100%)** |  | $248844184 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $53,219 or 0.0% of net assets.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $11,058,123. This was collateralized by $7,568,049 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.250%, maturing 10/9/25 – 5/15/55 and by cash of $3,913,772 of which $3,913,676 was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*CVR — Contingent Value Right* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  Russell 2000 E-Mini Index | 199 | 12/2025 | USD | 24432225 | 237758 |
|  |  |  |  |  | 237758 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST** 

EQ/FRANKLIN SMALL CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $2785771 | $— | $— | $2785771 |
|  Consumer Discretionary | 24721244 | 1174250 |  | 25895494 |
|  Consumer Staples | 1981859 |  |  | 1981859 |
|  Energy | 8343801 | 935604 |  | 9279405 |
|  Financials | 54641824 | 1020579 | — (a) | 55662403 |
|  Health Care | 19618326 |  | — (a) | 19618326 |
|  Industrials | 36377235 | 9840288 |  | 46217523 |
|  Information Technology | 31729781 |  |  | 31729781 |
|  Materials | 12412090 | 2931931 |  | 15344021 |
|  Real Estate | 8956245 |  |  | 8956245 |
|  Utilities | 4589305 |  |  | 4589305 |
|  **Futures** | 237758 |  |  | 237758 |
|  **Rights** |  |  |  |  |
|  Health Care |  | 874 | 666 | 1540 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 18817015 |  |  | 18817015 |
|  **Warrants** |  |  |  |  |
|  Health Care |  | 255 |  | 255 |
|  **Total Assets** | $**225212254** | $**15903781** | $**666** | $**241116701** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**225212254** | $**15903781** | $**666** | $**241116701** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $74610873 |
|  Aggregate gross unrealized depreciation | (19233817) |
|  Net unrealized appreciation | $55377056 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $185739645 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/GLOBAL EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Australia (1.6%)** |  |  |
|  ANZ Group Holdings Ltd. | 60549 | $1330568 |
|  APA Group | 26662 | 156663 |
|  Aristocrat Leisure Ltd. | 11427 | 529136 |
|  ASX Ltd. | 4073 | 157906 |
|  BHP Group Ltd. | 102410 | 2882033 |
|  BlueScope Steel Ltd. | 9772 | 146716 |
|  Brambles Ltd. | 27804 | 456268 |
|  CAR Group Ltd. | 7415 | 180461 |
|  Cochlear Ltd. | 1375 | 254072 |
|  Coles Group Ltd. | 26726 | 411874 |
|  Commonwealth Bank of Australia | 33833 | 3736440 |
|  Computershare Ltd. | 10365 | 248896 |
|  Evolution Mining Ltd. | 40972 | 293614 |
|  Fortescue Ltd. | 34001 | 420271 |
|  Glencore plc | 208207 | 956540 |
|  Goodman Group (REIT) | 41226 | 894214 |
|  Insurance Australia Group Ltd. | 48055 | 260744 |
|  Lottery Corp. Ltd. (The) | 44219 | 172047 |
|  Macquarie Group Ltd. | 7378 | 1070774 |
|  Medibank Pvt Ltd. | 58634 | 187007 |
|  National Australia Bank Ltd. | 62406 | 1823132 |
|  Northern Star Resources Ltd. | 26859 | 421744 |
|  Origin Energy Ltd. | 34850 | 288253 |
|  Pro Medicus Ltd. | 1135 | 231535 |
|  Qantas Airways Ltd. | 15492 | 111942 |
|  QBE Insurance Group Ltd. | 30341 | 413378 |
|  REA Group Ltd.(x) | 1110 | 169711 |
|  Rio Tinto Ltd. | 7477 | 603747 |
|  Rio Tinto plc | 22997 | 1511638 |
|  Santos Ltd. | 67708 | 301520 |
|  Scentre Group (REIT) | 101224 | 273278 |
|  SGH Ltd. | 4388 | 144974 |
|  Sigma Healthcare Ltd. | 94092 | 184914 |
|  Sonic Healthcare Ltd. | 9042 | 128277 |
|  South32 Ltd. | 92580 | 167853 |
|  Stockland (REIT) | 47469 | 192231 |
|  Suncorp Group Ltd. | 21321 | 285830 |
|  Telstra Group Ltd. | 77972 | 248683 |
|  Transurban Group | 63055 | 575784 |
|  Vicinity Ltd. (REIT) | 78809 | 131413 |
|  Washington H Soul Pattinson & Co. Ltd.(x) | 6918 | 176193 |
|  Wesfarmers Ltd. | 22891 | 1393825 |
|  Westpac Banking Corp. | 68958 | 1778182 |
|  WiseTech Global Ltd. | 4159 | 248369 |
|  Woodside Energy Group Ltd. | 38692 | 589625 |
|  Woolworths Group Ltd. | 24724 | 436809 |
|  |  | 27579084 |
|  **Austria (0.1%)** |  |  |
|  Erste Group Bank AG | 6250 | 610506 |
|  Mondi plc | 9128 | 125709 |
|  OMV AG | 2807 | 149684 |
|  Verbund AG | 1371 | 99636 |
|  |  | 985535 |
|  **Belgium (0.2%)** |  |  |
|  Ageas SA/NV | 2867 | 198258 |
|  Anheuser-Busch InBev SA/NV | 19802 | 1181026 |
|  D'ieteren Group | 428 | 79997 |
|  Elia Group SA/NV, Class B | 827 | 95298 |
|  Groupe Bruxelles Lambert NV | 1523 | 135983 |
|  KBC Group NV | 4639 | 552539 |
|  Lotus Bakeries NV | 8 | 75327 |
|  Sofina SA(x) | 315 | 92826 |
|  Syensqo SA | 1626 | 131149 |
|  UCB SA | 2553 | 704377 |
|  |  | 3246780 |
|  **Brazil (1.0%)** |  |  |
|  Banco BTG Pactual SA | 84266 | 764882 |
|  Itau Unibanco Holding SA (Preference)(q) | 442161 | 3242528 |
|  MercadoLibre, Inc.\* | 1502 | 3510084 |
|  Raia Drogasil SA | 540056 | 1863014 |
|  Rede D'Or Sao Luiz SA(m) | 362652 | 2874097 |
|  Vale SA | 133945 | 1449115 |
|  WEG SA | 528208 | 3621459 |
|  Yara International ASA | 2946 | 107631 |
|  |  | 17432810 |
|  **Canada (0.3%)** |  |  |
|  Shopify, Inc., Class A\* | 39554 | 5878120 |
|  **Chile (0.3%)** |  |  |
|  Antofagasta plc | 109488 | 4050859 |
|  Banco de Chile | 12020512 | 1825275 |
|  |  | 5876134 |
|  **China (4.3%)** |  |  |
|  Airtac International Group | 39109 | 966240 |
|  Alibaba Group Holding Ltd. | 487500 | 11088159 |
|  Bank of Jiangsu Co. Ltd., Class A | 1119700 | 1577674 |
|  Bank of Ningbo Co. Ltd., Class A | 321800 | 1194807 |
|  BOC Hong Kong Holdings Ltd. | 77500 | 363900 |
|  BYD Co. Ltd., Class H | 78000 | 1104556 |
|  China Construction Bank Corp., Class H | 4874420 | 4685286 |
|  China International Capital Corp. Ltd., Class H(m) | 418400 | 1150580 |
|  China Merchants Bank Co. Ltd., Class H | 563500 | 3385946 |
|  Contemporary Amperex Technology Co. Ltd., Class A | 34100 | 1925728 |
|  JD.com, Inc. (ADR) | 159811 | 5590189 |
|  Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A | 248104 | 2493779 |
|  Kuaishou Technology(m) | 124000 | 1348043 |
|  NARI Technology Co. Ltd., Class A | 467240 | 1507046 |
|  NAURA Technology Group Co. Ltd., Class A | 26870 | 1707522 |
|  NetEase, Inc. | 72600 | 2209174 |
|  Ping An Insurance Group Co. of China Ltd., Class H | 183000 | 1247522 |
|  Prosus NV | 26342 | 1853754 |
|  Shenzhen Inovance Technology Co. Ltd., Class A | 163100 | 1920508 |
|  SITC International Holdings Co. Ltd. | 28000 | 107798 |
|  Tencent Holdings Ltd. | 228800 | 19493109 |
|  Trip.com Group Ltd. (ADR) | 40005 | 3008376 |
|  Wharf Holdings Ltd. (The) | 19000 | 54349 |
|  Wilmar International Ltd. | 35300 | 77991 |
|  Xiaomi Corp., Class B(m)\* | 363800 | 2524457 |
|  Yangzijiang Shipbuilding Holdings Ltd. | 51000 | 133238 |
|  Yum China Holdings, Inc. | 28126 | 1207168 |
|  |  | 73926899 |
|  **Czech Republic (0.1%)** |  |  |
|  Komercni Banka A/S | 32161 | 1611571 |
|  **Denmark (0.4%)** |  |  |
|  AP Moller - Maersk A/S, Class A(x) | 48 | 93840 |
|  AP Moller - Maersk A/S, Class B | 87 | 170564 |
|  Carlsberg A/S, Class B | 1827 | 212296 |
|  Coloplast A/S, Class B | 2644 | 225807 |
|  Danske Bank A/S | 13531 | 576521 |
|  Demant A/S\* | 1624 | 56244 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/GLOBAL EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  DSV A/S | 4165 | $828342 |
|  Genmab A/S\* | 1230 | 372885 |
|  Novo Nordisk A/S, Class B | 65174 | 3532879 |
|  Novonesis Novozymes B | 7125 | 436036 |
|  Orsted A/S(m)(x)\* | 3252 | 58078 |
|  Pandora A/S | 1711 | 222929 |
|  ROCKWOOL A/S, Class B | 1975 | 73340 |
|  Tryg A/S | 6331 | 160614 |
|  Vestas Wind Systems A/S | 20281 | 382140 |
|  |  | 7402515 |
|  **Finland (0.2%)** |  |  |
|  Elisa OYJ | 2530 | 132656 |
|  Fortum OYJ | 9425 | 178209 |
|  Kesko OYJ, Class B | 5738 | 121934 |
|  Kone OYJ, Class B | 6843 | 465973 |
|  Metso OYJ | 13520 | 185478 |
|  Neste OYJ | 8428 | 154212 |
|  Nokia OYJ | 104874 | 502236 |
|  Nordea Bank Abp | 62782 | 1030086 |
|  Orion OYJ, Class B | 2277 | 174166 |
|  Sampo OYJ, Class A | 49139 | 564109 |
|  Stora Enso OYJ, Class R | 12432 | 136266 |
|  UPM-Kymmene OYJ | 10506 | 287026 |
|  Wartsila OYJ Abp | 10566 | 315708 |
|  |  | 4248059 |
|  **France (3.0%)** |  |  |
|  Accor SA | 3898 | 184431 |
|  Aeroports de Paris SA | 731 | 96379 |
|  Air Liquide SA | 11696 | 2428586 |
|  Airbus SE | 52146 | 12085225 |
|  Alstom SA\* | 7237 | 187945 |
|  Amundi SA(m) | 1281 | 101367 |
|  Arkema SA | 1228 | 77277 |
|  AXA SA | 36106 | 1722740 |
|  BioMerieux | 778 | 103946 |
|  BNP Paribas SA | 20537 | 1864540 |
|  Bollore SE | 12965 | 73307 |
|  Bouygues SA | 3915 | 176134 |
|  Bureau Veritas SA | 6461 | 202079 |
|  Capgemini SE | 3353 | 486366 |
|  Carrefour SA | 11374 | 172195 |
|  Cie de Saint-Gobain SA | 9152 | 984878 |
|  Cie Generale des Etablissements Michelin SCA | 13576 | 486774 |
|  Covivio SA (REIT) | 1249 | 83877 |
|  Credit Agricole SA | 21344 | 418985 |
|  Danone SA | 13155 | 1145374 |
|  Dassault Aviation SA | 398 | 132986 |
|  Dassault Systemes SE | 13547 | 453447 |
|  Edenred SE | 4879 | 115709 |
|  Eiffage SA | 1441 | 183899 |
|  Engie SA | 37219 | 797688 |
|  EssilorLuxottica SA | 15148 | 4908525 |
|  FDJ United | 2399 | 80272 |
|  Gecina SA (REIT) | 880 | 88129 |
|  Getlink SE | 6355 | 116841 |
|  Hermes International SCA | 637 | 1557813 |
|  Ipsen SA | 829 | 110565 |
|  Kering SA | 1483 | 491952 |
|  Klepierre SA (REIT) | 4337 | 168846 |
|  Legrand SA | 5344 | 882142 |
|  L'Oreal SA | 4900 | 2119923 |
|  LVMH Moet Hennessy Louis Vuitton SE | 10477 | 6402422 |
|  Orange SA | 37853 | 613735 |
|  Pernod Ricard SA | 4065 | 398696 |
|  Publicis Groupe SA | 4613 | 442370 |
|  Renault SA | 4038 | 164980 |
|  Rexel SA | 4333 | 141626 |
|  Safran SA | 7338 | 2585415 |
|  Sartorius Stedim Biotech | 631 | 127459 |
|  Societe Generale SA | 14385 | 951848 |
|  Sodexo SA | 1725 | 108451 |
|  Teleperformance SE | 1180 | 87750 |
|  Thales SA | 1880 | 588443 |
|  TotalEnergies SE | 41632 | 2528462 |
|  Unibail-Rodamco-Westfield (REIT) | 2547 | 267453 |
|  Veolia Environnement SA | 12527 | 426218 |
|  Vinci SA | 10088 | 1396978 |
|  |  | 52523448 |
|  **Germany (2.8%)** |  |  |
|  adidas AG | 3485 | 734027 |
|  Allianz SE (Registered) | 12874 | 5402001 |
|  BASF SE | 17977 | 894679 |
|  Bayer AG (Registered) | 19954 | 661344 |
|  Bayerische Motoren Werke AG | 5571 | 558832 |
|  Bayerische Motoren Werke AG (Preference)(q) | 1253 | 116142 |
|  Beiersdorf AG | 1921 | 200726 |
|  Brenntag SE | 2270 | 135653 |
|  Commerzbank AG | 15601 | 587772 |
|  Continental AG | 2189 | 144228 |
|  Covestro AG\* | 3740 | 255992 |
|  CTS Eventim AG & Co. KGaA | 1224 | 119849 |
|  Daimler Truck Holding AG | 9585 | 394089 |
|  Deutsche Bank AG (Registered) | 37715 | 1326165 |
|  Deutsche Boerse AG | 3835 | 1027016 |
|  Deutsche Lufthansa AG (Registered) | 11720 | 99181 |
|  Deutsche Post AG | 19562 | 871359 |
|  Deutsche Telekom AG (Registered) | 70595 | 2404409 |
|  Dr Ing hc F Porsche AG (Preference)(m)(q)(x) | 2111 | 102309 |
|  E.ON SE | 45022 | 846522 |
|  Evonik Industries AG | 5509 | 95530 |
|  Fresenius Medical Care AG | 4232 | 221897 |
|  Fresenius SE & Co. KGaA | 8483 | 472079 |
|  GEA Group AG | 2969 | 219080 |
|  Hannover Rueck SE | 1207 | 363622 |
|  Heidelberg Materials AG | 2691 | 605177 |
|  Henkel AG & Co. KGaA | 2067 | 153250 |
|  Henkel AG & Co. KGaA (Preference)(q) | 3263 | 263185 |
|  Hensoldt AG | 1278 | 165498 |
|  Infineon Technologies AG | 26611 | 1037256 |
|  Knorr-Bremse AG | 1488 | 139497 |
|  LEG Immobilien SE | 1576 | 125265 |
|  Mercedes-Benz Group AG | 14522 | 911640 |
|  Merck KGaA | 2565 | 329602 |
|  MTU Aero Engines AG | 1088 | 499322 |
|  Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered) | 2647 | 1688730 |
|  Nemetschek SE | 1213 | 157793 |
|  Porsche Automobil Holding SE (Preference)(q) | 2766 | 108626 |
|  Rational AG | 104 | 79244 |
|  Rheinmetall AG | 928 | 2162149 |
|  RWE AG | 12849 | 570529 |
|  SAP SE | 48868 | 13075415 |
|  Sartorius AG (Preference)(q) | 545 | 126628 |
|  Scout24 SE(m) | 1576 | 197242 |
|  Siemens AG (Registered) | 15380 | 4138639 |
|  Siemens Energy AG\* | 13845 | 1616044 |
|  Siemens Healthineers AG(m) | 6902 | 372914 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/GLOBAL EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Symrise AG, Class A | 2603 | $226270 |
|  Talanx AG | 1336 | 177558 |
|  Volkswagen AG (Preference)(q) | 4150 | 448057 |
|  Vonovia SE | 14988 | 467191 |
|  Zalando SE(m)\* | 4706 | 143707 |
|  |  | 48240931 |
|  **Hong Kong (0.4%)** |  |  |
|  AIA Group Ltd. | 215400 | 2066270 |
|  CK Asset Holdings Ltd. | 40264 | 195164 |
|  CK Infrastructure Holdings Ltd. | 12000 | 78798 |
|  CLP Holdings Ltd. | 34500 | 285728 |
|  Futu Holdings Ltd. (ADR) | 1154 | 200692 |
|  Hang Seng Bank Ltd. | 14400 | 219277 |
|  Henderson Land Development Co. Ltd. | 31474 | 110981 |
|  HKT Trust & HKT Ltd. | 72260 | 106970 |
|  Hong Kong & China Gas Co. Ltd. | 228856 | 198802 |
|  Hong Kong Exchanges & Clearing Ltd. | 24528 | 1393144 |
|  Hongkong Land Holdings Ltd. | 22400 | 141792 |
|  Jardine Matheson Holdings Ltd. | 3200 | 196416 |
|  Link REIT (REIT) | 54600 | 280649 |
|  MTR Corp. Ltd.(x) | 32000 | 108477 |
|  Power Assets Holdings Ltd. | 28000 | 177313 |
|  Prudential plc | 52478 | 734713 |
|  Sino Land Co. Ltd. | 73001 | 92401 |
|  Sun Hung Kai Properties Ltd. | 28500 | 341328 |
|  Swire Pacific Ltd., Class A | 7500 | 63561 |
|  Techtronic Industries Co. Ltd. | 30500 | 390169 |
|  WH Group Ltd.(m) | 172966 | 187370 |
|  Wharf Real Estate Investment Co. Ltd. | 35100 | 103740 |
|  |  | 7673755 |
|  **India (4.1%)** |  |  |
|  360 ONE WAM Ltd. | 103540 | 1194126 |
|  Avenue Supermarts Ltd.(m)\* | 26359 | 1328626 |
|  Axis Bank Ltd. | 162557 | 2071766 |
|  Bajaj Auto Ltd. | 19611 | 1916843 |
|  Bajaj Finance Ltd. | 232199 | 2612308 |
|  CG Power & Industrial Solutions Ltd. | 99158 | 827482 |
|  Colgate-Palmolive India Ltd. | 20355 | 509490 |
|  DLF Ltd. | 1079499 | 8668697 |
|  Grasim Industries Ltd. | 60988 | 1893684 |
|  HDFC Asset Management Co. Ltd.(m) | 40006 | 2492807 |
|  HDFC Bank Ltd. | 270122 | 2893227 |
|  HDFC Bank Ltd. (ADR) | 72780 | 2486165 |
|  Hindalco Industries Ltd. | 114305 | 980920 |
|  Hitachi Energy India Ltd. | 10757 | 2180870 |
|  ICICI Bank Ltd. | 300734 | 4565775 |
|  ICICI Bank Ltd. (ADR) | 141561 | 4279389 |
|  IDFC First Bank Ltd. | 2827735 | 2222028 |
|  Infosys Ltd. (ADR)(x) | 164701 | 2679685 |
|  Larsen & Toubro Ltd. | 38755 | 1597100 |
|  Lodha Developers Ltd.(m) | 133752 | 1710977 |
|  Mahindra & Mahindra Ltd. | 98956 | 3819428 |
|  MakeMyTrip Ltd.\* | 11336 | 1061050 |
|  Max Healthcare Institute Ltd. | 175195 | 2199489 |
|  Pidilite Industries Ltd. | 100602 | 1663316 |
|  Reliance Industries Ltd. | 304677 | 4680542 |
|  Samvardhana Motherson International Ltd. | 993100 | 1181693 |
|  Shriram Finance Ltd. | 169720 | 1177677 |
|  State Bank of India | 342697 | 3367386 |
|  Swiggy Ltd.\* | 168595 | 803111 |
|  United Breweries Ltd. | 71819 | 1456622 |
|  |  | 70522279 |
|  **Indonesia (0.1%)** |  |  |
|  Cisarua Mountain Dairy PT Tbk. | 3822600 | 1055143 |
|  **Ireland (0.2%)** |  |  |
|  Accenture plc, Class A | 5116 | 1261606 |
|  AerCap Holdings NV | 3537 | 427977 |
|  AIB Group plc | 43065 | 390074 |
|  Bank of Ireland Group plc | 19514 | 321089 |
|  Kerry Group plc, Class A | 3142 | 283120 |
|  Kingspan Group plc | 3241 | 269401 |
|  |  | 2953267 |
|  **Israel (0.3%)** |  |  |
|  Azrieli Group Ltd. | 972 | 96461 |
|  Bank Hapoalim BM | 25444 | 517146 |
|  Bank Leumi Le-Israel BM | 30539 | 601984 |
|  Check Point Software Technologies Ltd.\* | 1764 | 364989 |
|  Elbit Systems Ltd. | 562 | 284546 |
|  ICL Group Ltd. | 15080 | 94244 |
|  Israel Discount Bank Ltd., Class A | 23593 | 233209 |
|  Mizrahi Tefahot Bank Ltd. | 3259 | 214400 |
|  Nice Ltd.\* | 1353 | 199343 |
|  Nice Ltd. (ADR)(x)\* | 8114 | 1174745 |
|  Nova Ltd.\* | 572 | 181243 |
|  Phoenix Financial Ltd. | 4222 | 158061 |
|  Teva Pharmaceutical Industries Ltd. (ADR)\* | 23372 | 472115 |
|  Wix.com Ltd.\* | 1064 | 188998 |
|  |  | 4781484 |
|  **Italy (1.0%)** |  |  |
|  Banca Mediolanum SpA | 3381 | 67679 |
|  Banca Monte dei Paschi di Siena SpA | 39951 | 353663 |
|  Banco BPM SpA | 23716 | 354312 |
|  BPER Banca SpA | 29788 | 330001 |
|  Brunello Cucinelli SpA(x) | 21748 | 2374591 |
|  Coca-Cola HBC AG | 4480 | 211121 |
|  Davide Campari-Milano NV(x) | 12948 | 81633 |
|  Enel SpA | 163660 | 1549842 |
|  Eni SpA(x) | 41219 | 719413 |
|  Ferrari NV | 4689 | 2265908 |
|  FinecoBank Banca Fineco SpA | 12712 | 274686 |
|  Generali | 16974 | 665805 |
|  Infrastrutture Wireless Italiane SpA(m) | 5172 | 60783 |
|  Intesa Sanpaolo SpA | 289072 | 1905307 |
|  Leonardo SpA | 8164 | 517779 |
|  Moncler SpA | 13343 | 781231 |
|  Nexi SpA(m)(x) | 11018 | 62298 |
|  Poste Italiane SpA(m) | 9310 | 220685 |
|  Prysmian SpA | 5643 | 557706 |
|  Recordati Industria Chimica e Farmaceutica SpA | 2122 | 128802 |
|  Ryanair Holdings plc | 16625 | 482109 |
|  Snam SpA | 42362 | 254544 |
|  Telecom Italia SpA\* | 245462 | 128329 |
|  Terna - Rete Elettrica Nazionale | 29473 | 298899 |
|  UniCredit SpA | 28567 | 2162265 |
|  Unipol Assicurazioni SpA | 7536 | 161558 |
|  |  | 16970949 |
|  **Japan (5.5%)** |  |  |
|  Advantest Corp.(x) | 15600 | 1545390 |
|  Aeon Co. Ltd. | 44700 | 542560 |
|  AGC, Inc. | 4000 | 130507 |
|  Aisin Corp.(x) | 10200 | 176570 |
|  Ajinomoto Co., Inc. | 18400 | 528292 |
|  ANA Holdings, Inc. | 3300 | 63842 |
|  Asahi Group Holdings Ltd. | 28900 | 346972 |
|  Asahi Kasei Corp. | 23900 | 188197 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/GLOBAL EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Asics Corp. | 14300 | $374410 |
|  Astellas Pharma, Inc.(x) | 37700 | 408012 |
|  Bandai Namco Holdings, Inc. | 11800 | 392974 |
|  Bridgestone Corp. | 11500 | 532522 |
|  Canon, Inc.(x) | 17600 | 516152 |
|  Capcom Co. Ltd. | 80700 | 2195328 |
|  Central Japan Railway Co. | 15400 | 441845 |
|  Chiba Bank Ltd. (The)(x) | 11000 | 115627 |
|  Chubu Electric Power Co., Inc. | 12600 | 175387 |
|  Chugai Pharmaceutical Co. Ltd. | 13100 | 571179 |
|  Dai Nippon Printing Co. Ltd. | 8800 | 149687 |
|  Daifuku Co. Ltd. | 6600 | 211677 |
|  Dai-ichi Life Holdings, Inc. | 70700 | 557434 |
|  Daiichi Sankyo Co. Ltd. | 34800 | 780079 |
|  Daikin Industries Ltd. | 5300 | 612124 |
|  Daito Trust Construction Co. Ltd. | 5500 | 120685 |
|  Daiwa House Industry Co. Ltd. | 11800 | 424492 |
|  Daiwa Securities Group, Inc. | 28000 | 227677 |
|  Denso Corp. | 35800 | 516962 |
|  Disco Corp. | 1900 | 597552 |
|  East Japan Railway Co.(x) | 19911 | 487391 |
|  Eisai Co. Ltd.(x) | 5300 | 178297 |
|  ENEOS Holdings, Inc. | 57333 | 364386 |
|  FANUC Corp. | 18500 | 533164 |
|  Fast Retailing Co. Ltd. | 3900 | 1187788 |
|  Fuji Electric Co. Ltd. | 2800 | 188276 |
|  FUJIFILM Holdings Corp. | 22500 | 560047 |
|  Fujikura Ltd. | 4800 | 469175 |
|  Fujitsu Ltd. | 35200 | 829271 |
|  Hankyu Hanshin Holdings, Inc.(x) | 5500 | 162302 |
|  Hikari Tsushin, Inc. | 300 | 83741 |
|  Hitachi Ltd. | 93300 | 2479420 |
|  Honda Motor Co. Ltd.(x) | 80400 | 832352 |
|  Hoya Corp. | 16700 | 2312151 |
|  Hulic Co. Ltd. | 9400 | 102972 |
|  Idemitsu Kosan Co. Ltd.(x) | 15195 | 104393 |
|  IHI Corp. | 20300 | 378862 |
|  Inpex Corp. | 18500 | 334385 |
|  Isuzu Motors Ltd. | 10900 | 137793 |
|  ITOCHU Corp. | 24200 | 1378836 |
|  Japan Airlines Co. Ltd. | 3488 | 70357 |
|  Japan Exchange Group, Inc. | 18700 | 208958 |
|  Japan Post Bank Co. Ltd. | 37800 | 463793 |
|  Japan Post Holdings Co. Ltd. | 35000 | 347905 |
|  Japan Post Insurance Co. Ltd. | 3400 | 96401 |
|  Japan Tobacco, Inc. | 24500 | 805484 |
|  JFE Holdings, Inc.(x) | 11200 | 137572 |
|  Kajima Corp. | 8200 | 239316 |
|  Kansai Electric Power Co., Inc. (The) | 19800 | 283641 |
|  Kao Corp. | 9300 | 405682 |
|  Kawasaki Heavy Industries Ltd.(x) | 3100 | 204801 |
|  Kawasaki Kisen Kaisha Ltd.(x) | 7100 | 101110 |
|  KDDI Corp. | 63600 | 1015166 |
|  Keyence Corp. | 11072 | 4131271 |
|  Kikkoman Corp.(x) | 14100 | 119657 |
|  Kirin Holdings Co. Ltd. | 15000 | 219850 |
|  Kobe Bussan Co. Ltd. | 3200 | 87939 |
|  Komatsu Ltd. | 19200 | 669926 |
|  Konami Group Corp. | 2000 | 288738 |
|  Kubota Corp. | 18900 | 238095 |
|  Kyocera Corp. | 25300 | 340361 |
|  Kyowa Kirin Co. Ltd. | 4600 | 71495 |
|  Lasertec Corp. | 1700 | 233414 |
|  LY Corp. | 56000 | 180286 |
|  M3, Inc. | 9000 | 145207 |
|  Makita Corp. | 4600 | 149492 |
|  Marubeni Corp. | 28700 | 717670 |
|  MatsukiyoCocokara & Co. | 7500 | 152348 |
|  Meiji Holdings Co. Ltd.(x) | 4588 | 95120 |
|  Minebea Mitsumi, Inc. | 7400 | 139583 |
|  Mitsubishi Chemical Group Corp.(x) | 24500 | 141034 |
|  Mitsubishi Corp. | 65400 | 1561534 |
|  Mitsubishi Electric Corp. | 38200 | 982348 |
|  Mitsubishi Estate Co. Ltd. | 21400 | 492438 |
|  Mitsubishi HC Capital, Inc.(x) | 15900 | 131438 |
|  Mitsubishi Heavy Industries Ltd. | 64500 | 1691825 |
|  Mitsubishi UFJ Financial Group, Inc. | 232300 | 3760531 |
|  Mitsui & Co. Ltd. | 49400 | 1229280 |
|  Mitsui Fudosan Co. Ltd. | 53300 | 581350 |
|  Mitsui OSK Lines Ltd.(x) | 6600 | 200564 |
|  Mizuho Financial Group, Inc. | 50853 | 1715216 |
|  MonotaRO Co. Ltd. | 6200 | 90389 |
|  MS&AD Insurance Group Holdings, Inc. | 26021 | 590503 |
|  Murata Manufacturing Co. Ltd. | 33700 | 641595 |
|  NEC Corp. | 26300 | 842788 |
|  Nexon Co. Ltd. | 6400 | 140520 |
|  Nidec Corp. | 16500 | 293828 |
|  Nintendo Co. Ltd. | 22200 | 1922244 |
|  Nippon Building Fund, Inc. (REIT) | 166 | 156588 |
|  Nippon Paint Holdings Co. Ltd.(x) | 19300 | 131812 |
|  Nippon Sanso Holdings Corp.(x) | 3400 | 120633 |
|  Nippon Steel Corp.(x) | 96455 | 397534 |
|  Nippon Yusen KK(x) | 8600 | 293732 |
|  Nissan Motor Co. Ltd.\* | 46600 | 114637 |
|  Nissin Foods Holdings Co. Ltd.(x) | 4100 | 77240 |
|  Nitori Holdings Co. Ltd.(x) | 8000 | 154363 |
|  Nitto Denko Corp.(x) | 14600 | 347217 |
|  Nomura Holdings, Inc. | 60400 | 443346 |
|  Nomura Research Institute Ltd. | 7854 | 301286 |
|  NTT, Inc. | 591400 | 618654 |
|  Obayashi Corp. | 13600 | 223379 |
|  Obic Co. Ltd. | 6600 | 230019 |
|  Olympus Corp. | 23500 | 297315 |
|  Oracle Corp. | 900 | 91896 |
|  Oriental Land Co. Ltd. | 21800 | 525818 |
|  ORIX Corp. | 23400 | 614253 |
|  Osaka Gas Co. Ltd. | 7400 | 214617 |
|  Otsuka Corp. | 4800 | 100229 |
|  Otsuka Holdings Co. Ltd. | 9200 | 488912 |
|  Pan Pacific International Holdings Corp. | 38500 | 253829 |
|  Panasonic Holdings Corp. | 47000 | 511681 |
|  Rakuten Group, Inc.\* | 28300 | 183691 |
|  Recruit Holdings Co. Ltd. | 27000 | 1453839 |
|  Renesas Electronics Corp. | 35500 | 409528 |
|  Resona Holdings, Inc. | 41705 | 425976 |
|  Ryohin Keikaku Co. Ltd. | 10200 | 203124 |
|  Sanrio Co. Ltd.(x) | 3300 | 155109 |
|  SBI Holdings, Inc. | 5660 | 246325 |
|  SCREEN Holdings Co. Ltd. | 1500 | 136525 |
|  SCSK Corp. | 3700 | 110811 |
|  Secom Co. Ltd. | 8300 | 304476 |
|  Sekisui Chemical Co. Ltd. | 7700 | 143446 |
|  Sekisui House Ltd. | 12500 | 284596 |
|  Seven & i Holdings Co. Ltd. | 42300 | 569492 |
|  SG Holdings Co. Ltd.(x) | 5400 | 55831 |
|  Shimadzu Corp. | 5100 | 128806 |
|  Shimano, Inc. | 1500 | 168374 |
|  Shin-Etsu Chemical Co. Ltd. | 34200 | 1122309 |
|  Shionogi & Co. Ltd. | 15900 | 278628 |
|  Shiseido Co. Ltd. | 8300 | 141827 |
|  SMC Corp. | 1200 | 368638 |
|  SoftBank Corp. | 583400 | 858817 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/GLOBAL EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SoftBank Group Corp. | 19200 | $2425885 |
|  Sompo Holdings, Inc. | 18043 | 558182 |
|  Sony Financial Group, Inc.\* | 124600 | 138178 |
|  Sony Group Corp. | 124600 | 3588406 |
|  Subaru Corp.(x) | 12900 | 264307 |
|  Sumitomo Corp. | 22100 | 640801 |
|  Sumitomo Electric Industries Ltd. | 15000 | 427832 |
|  Sumitomo Metal Mining Co. Ltd.(x) | 4900 | 157949 |
|  Sumitomo Mitsui Financial Group, Inc. | 74421 | 2101512 |
|  Sumitomo Mitsui Trust Group, Inc. | 13504 | 392560 |
|  Sumitomo Realty & Development Co. Ltd. | 6000 | 265017 |
|  Suntory Beverage & Food Ltd. | 3000 | 93823 |
|  Suzuki Motor Corp. | 31200 | 455811 |
|  Sysmex Corp. | 9100 | 112269 |
|  T&D Holdings, Inc. | 10000 | 244920 |
|  Taisei Corp. | 3100 | 213186 |
|  Takeda Pharmaceutical Co. Ltd. | 31890 | 930489 |
|  TDK Corp. | 40600 | 589844 |
|  Terumo Corp. | 26800 | 442725 |
|  TIS, Inc. | 4200 | 138708 |
|  Toho Co. Ltd.(x) | 2000 | 128478 |
|  Tokio Marine Holdings, Inc. | 36900 | 1564230 |
|  Tokyo Electron Ltd. | 8900 | 1586395 |
|  Tokyo Gas Co. Ltd. | 6200 | 220690 |
|  Tokyo Metro Co. Ltd.(x) | 6600 | 75624 |
|  Tokyu Corp.(x) | 10500 | 128086 |
|  TOPPAN Holdings, Inc. | 4500 | 115478 |
|  Toray Industries, Inc. | 29400 | 187929 |
|  Toyota Industries Corp. | 3200 | 360064 |
|  Toyota Motor Corp. | 191970 | 3698945 |
|  Toyota Tsusho Corp. | 14000 | 388329 |
|  Trend Micro, Inc. | 2300 | 125976 |
|  Unicharm Corp. | 20700 | 134291 |
|  West Japan Railway Co.(x) | 8900 | 195170 |
|  Yakult Honsha Co. Ltd.(x) | 5400 | 88056 |
|  Yamaha Motor Co. Ltd.(x) | 18100 | 135856 |
|  Yokogawa Electric Corp. | 5100 | 146739 |
|  Yokohama Financial Group, Inc. | 21200 | 162994 |
|  Zensho Holdings Co. Ltd. | 2000 | 130804 |
|  ZOZO, Inc.(x) | 9300 | 85526 |
|  |  | 94220422 |
|  **Jersey (0.0%)†** |  |  |
|  Aptiv plc\* | 1827 | 157524 |
|  **Luxembourg (0.0%)†** |  |  |
|  ArcelorMittal SA | 9866 | 354214 |
|  CVC Capital Partners plc(m) | 3952 | 68762 |
|  Eurofins Scientific SE | 2492 | 180752 |
|  |  | 603728 |
|  **Macau (0.0%)†** |  |  |
|  Galaxy Entertainment Group Ltd. | 43000 | 236938 |
|  Sands China Ltd. | 51187 | 142735 |
|  |  | 379673 |
|  **Malaysia (0.2%)** |  |  |
|  CIMB Group Holdings Bhd. | 1034400 | 1804086 |
|  Malayan Banking Bhd. | 621500 | 1463482 |
|  |  | 3267568 |
|  **Mexico (0.7%)** |  |  |
|  Fresnillo plc | 4261 | 135243 |
|  Grupo Financiero Banorte SAB de CV, Class O | 412017 | 4138056 |
|  Kimberly-Clark de Mexico SAB de CV, Class A | 1450514 | 3054130 |
|  Prologis Property Mexico SA de CV (REIT) | 334607 | 1370329 |
|  Wal-Mart de Mexico SAB de CV | 975454 | 3013689 |
|  |  | 11711447 |
|  **Netherlands (1.4%)** |  |  |
|  ABN AMRO Bank NV (CVA)(m) | 11597 | 371021 |
|  Adyen NV(m)\* | 2638 | 4227601 |
|  Aegon Ltd. | 27157 | 217829 |
|  Akzo Nobel NV | 3588 | 255277 |
|  Argenx SE\* | 1234 | 894186 |
|  ASM International NV | 949 | 569120 |
|  ASML Holding NV | 8790 | 8545909 |
|  ASR Nederland NV | 2967 | 201271 |
|  BE Semiconductor Industries NV | 9523 | 1418244 |
|  Euronext NV(m) | 1639 | 245152 |
|  EXOR NV | 1857 | 181394 |
|  Heineken Holding NV | 2723 | 186541 |
|  Heineken NV | 5840 | 455406 |
|  IMCD NV | 1193 | 123256 |
|  ING Groep NV | 61036 | 1581879 |
|  JDE Peet's NV | 3692 | 135239 |
|  Koninklijke Ahold Delhaize NV | 18417 | 744894 |
|  Koninklijke KPN NV | 77741 | 373028 |
|  Koninklijke Philips NV | 15539 | 420332 |
|  NN Group NV | 5367 | 377437 |
|  NXP Semiconductors NV | 2102 | 478688 |
|  Randstad NV | 1992 | 84591 |
|  Universal Music Group NV | 46352 | 1336545 |
|  Wolters Kluwer NV | 4765 | 649784 |
|  |  | 24074624 |
|  **New Zealand (0.1%)** |  |  |
|  Auckland International Airport Ltd. | 34873 | 159315 |
|  Contact Energy Ltd. | 16763 | 88437 |
|  Fisher & Paykel Healthcare Corp. Ltd. | 12181 | 261645 |
|  Infratil Ltd. | 19272 | 137986 |
|  Meridian Energy Ltd. | 27587 | 89084 |
|  Xero Ltd.\* | 3270 | 340792 |
|  |  | 1077259 |
|  **Norway (0.1%)** |  |  |
|  Aker BP ASA | 6267 | 158943 |
|  DNB Bank ASA | 17872 | 486219 |
|  Equinor ASA | 15351 | 374409 |
|  Gjensidige Forsikring ASA | 3885 | 113908 |
|  Kongsberg Gruppen ASA | 8985 | 287164 |
|  Mowi ASA | 9339 | 197270 |
|  Norsk Hydro ASA | 28835 | 195324 |
|  Orkla ASA | 14166 | 147912 |
|  Salmar ASA | 1438 | 76802 |
|  Telenor ASA | 12534 | 207737 |
|  |  | 2245688 |
|  **Peru (0.1%)** |  |  |
|  Credicorp Ltd. | 4960 | 1320749 |
|  **Poland (0.5%)** |  |  |
|  Allegro.eu SA(m)\* | 376624 | 3688369 |
|  Budimex SA | 9805 | 1373641 |
|  InPost SA\* | 5043 | 61872 |
|  Powszechna Kasa Oszczednosci Bank Polski SA | 147899 | 2867930 |
|  |  | 7991812 |
|  **Portugal (0.0%)†** |  |  |
|  Banco Comercial Portugues SA, Class R | 163964 | 144992 |
|  EDP SA | 64749 | 306887 |
|  Galp Energia SGPS SA | 8007 | 151350 |
|  Jeronimo Martins SGPS SA | 5451 | 132475 |
|  |  | 735704 |
|  **Singapore (0.4%)** |  |  |
|  CapitaLand Ascendas REIT (REIT) | 72515 | 156841 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/GLOBAL EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  CapitaLand Integrated Commercial Trust (REIT) | 122698 | $217821 |
|  CapitaLand Investment Ltd. | 46200 | 96343 |
|  DBS Group Holdings Ltd. | 43340 | 1718548 |
|  Genting Singapore Ltd. | 126857 | 72282 |
|  Grab Holdings Ltd., Class A\* | 49095 | 295552 |
|  Keppel Ltd. | 29400 | 203301 |
|  Oversea-Chinese Banking Corp. Ltd. | 67578 | 861260 |
|  Sea Ltd. (ADR)\* | 7795 | 1393200 |
|  Sembcorp Industries Ltd. | 18800 | 87737 |
|  Singapore Airlines Ltd. | 29450 | 148854 |
|  Singapore Exchange Ltd. | 17500 | 224253 |
|  Singapore Technologies Engineering Ltd. | 29500 | 196903 |
|  Singapore Telecommunications Ltd. | 150200 | 480891 |
|  STMicroelectronics NV | 13644 | 382047 |
|  United Overseas Bank Ltd. | 25867 | 693423 |
|  |  | 7229256 |
|  **South Africa (0.5%)** |  |  |
|  Anglo American plc | 22805 | 854172 |
|  AVI Ltd. | 364812 | 2089589 |
|  Capitec Bank Holdings Ltd. | 16380 | 3294969 |
|  Clicks Group Ltd. | 84855 | 1731691 |
|  OUTsurance Group Ltd. | 295502 | 1226838 |
|  |  | 9197259 |
|  **South Korea (1.6%)** |  |  |
|  Delivery Hero SE(m)\* | 3687 | 105664 |
|  HYBE Co. Ltd.\* | 3502 | 663934 |
|  Hyundai Motor Co. | 12337 | 1890492 |
|  KB Financial Group, Inc. | 31520 | 2594747 |
|  Kia Corp. | 19136 | 1373433 |
|  KT&G Corp. | 14921 | 1420794 |
|  NAVER Corp. | 13388 | 2562046 |
|  Samsung Electronics Co. Ltd. | 266262 | 15922014 |
|  SK Hynix, Inc. | 7898 | 1956135 |
|  |  | 28489259 |
|  **Spain (1.0%)** |  |  |
|  Acciona SA | 464 | 93099 |
|  ACS Actividades de Construccion y Servicios SA | 3576 | 285491 |
|  Aena SME SA(m) | 15104 | 412643 |
|  Amadeus IT Group SA | 53375 | 4229882 |
|  Banco Bilbao Vizcaya Argentaria SA | 116406 | 2233130 |
|  Banco de Sabadell SA | 102137 | 395716 |
|  Banco Santander SA | 301628 | 3142517 |
|  Bankinter SA | 12898 | 202991 |
|  CaixaBank SA | 80414 | 844592 |
|  Cellnex Telecom SA(m) | 10333 | 357757 |
|  EDP Renovaveis SA | 5607 | 73729 |
|  Endesa SA | 6397 | 204358 |
|  Grifols SA | 5584 | 80801 |
|  Iberdrola SA | 129291 | 2444644 |
|  Industria de Diseno Textil SA | 22228 | 1225766 |
|  Redeia Corp. SA | 8169 | 157673 |
|  Repsol SA | 22958 | 406060 |
|  Telefonica SA(x) | 77885 | 402157 |
|  |  | 17193006 |
|  **Sweden (0.9%)** |  |  |
|  AddTech AB, Class B | 5353 | 173536 |
|  Alfa Laval AB | 5631 | 256237 |
|  Assa Abloy AB, Class B | 62602 | 2171760 |
|  Atlas Copco AB, Class A | 133665 | 2256051 |
|  Atlas Copco AB, Class B | 31434 | 470622 |
|  Beijer Ref AB, Class B | 8032 | 125116 |
|  Boliden AB\* | 5509 | 223944 |
|  Epiroc AB, Class A | 12776 | 269243 |
|  Epiroc AB, Class B | 8732 | 164541 |
|  EQT AB | 7617 | 263436 |
|  Essity AB, Class B | 12079 | 315370 |
|  Evolution AB(m) | 2808 | 230679 |
|  Fastighets AB Balder, Class B\* | 13471 | 96356 |
|  H & M Hennes & Mauritz AB, Class B(x) | 11346 | 211207 |
|  Hexagon AB, Class B | 43615 | 518410 |
|  Holmen AB, Class B | 1818 | 69017 |
|  Industrivarden AB, Class A | 2213 | 87726 |
|  Industrivarden AB, Class C(x) | 3356 | 132930 |
|  Indutrade AB | 5055 | 115872 |
|  Investment AB Latour, Class B | 2908 | 68851 |
|  Investor AB, Class B | 34950 | 1091631 |
|  L E Lundbergforetagen AB, Class B | 1437 | 74549 |
|  Lifco AB, Class B | 4897 | 165307 |
|  Nibe Industrier AB, Class B | 29491 | 116029 |
|  Saab AB, Class B | 6756 | 412275 |
|  Sagax AB, Class B | 4794 | 99960 |
|  Sandvik AB | 21628 | 601441 |
|  Securitas AB, Class B | 10265 | 154394 |
|  Skandinaviska Enskilda Banken AB, Class A | 30618 | 598089 |
|  Skanska AB, Class B | 6367 | 164951 |
|  SKF AB, Class B | 7166 | 177506 |
|  Svenska Cellulosa AB SCA, Class B | 11685 | 154341 |
|  Svenska Handelsbanken AB, Class A | 29083 | 378119 |
|  Swedbank AB, Class A | 17110 | 514696 |
|  Swedish Orphan Biovitrum AB\* | 4072 | 124049 |
|  Tele2 AB, Class B | 11483 | 195827 |
|  Telefonaktiebolaget LM Ericsson, Class B | 55838 | 461679 |
|  Telia Co. AB | 47731 | 181962 |
|  Trelleborg AB, Class B | 3870 | 144081 |
|  Volvo AB, Class B | 32060 | 917761 |
|  |  | 14949551 |
|  **Switzerland (1.4%)** |  |  |
|  ABB Ltd. (Registered) | 31761 | 2286968 |
|  Avolta AG | 1798 | 97258 |
|  Baloise Holding AG (Registered) | 858 | 211684 |
|  Banque Cantonale Vaudoise (Registered) | 572 | 67472 |
|  Barry Callebaut AG (Registered)(x) | 66 | 90371 |
|  Belimo Holding AG (Registered) | 197 | 205773 |
|  BKW AG | 421 | 89853 |
|  Chocoladefabriken Lindt & Spruengli AG | 20 | 305508 |
|  Chocoladefabriken Lindt & Spruengli AG (Registered) | 2 | 300484 |
|  Cie Financiere Richemont SA (Registered) | 10955 | 2086273 |
|  DSM-Firmenich AG | 3710 | 315877 |
|  EMS-Chemie Holding AG (Registered) | 140 | 98926 |
|  Galderma Group AG | 10858 | 1886391 |
|  Geberit AG (Registered) | 677 | 507888 |
|  Givaudan SA (Registered) | 190 | 771409 |
|  Helvetia Holding AG (Registered) | 780 | 190774 |
|  Julius Baer Group Ltd. | 4058 | 280168 |
|  Kuehne + Nagel International AG (Registered)(x) | 973 | 181082 |
|  Logitech International SA (Registered) | 2966 | 323333 |
|  Lonza Group AG (Registered) | 6344 | 4201441 |
|  Partners Group Holding AG | 462 | 599808 |
|  Sandoz Group AG | 8396 | 497506 |
|  Schindler Holding AG | 855 | 323505 |
|  Schindler Holding AG (Registered) | 493 | 177432 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/GLOBAL EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SGS SA (Registered) | 3183 | $329796 |
|  SIG Group AG | 6696 | 69017 |
|  Sika AG (Registered) | 3024 | 672760 |
|  Sonova Holding AG (Registered) | 999 | 271821 |
|  Straumann Holding AG (Registered) | 2181 | 232607 |
|  Swatch Group AG (The) | 547 | 102693 |
|  Swiss Life Holding AG (Registered) | 567 | 609415 |
|  Swiss Prime Site AG (Registered) | 1614 | 225662 |
|  Swisscom AG (Registered) | 539 | 391021 |
|  TE Connectivity plc | 2402 | 527311 |
|  UBS Group AG (Registered) | 64309 | 2626324 |
|  VAT Group AG(m) | 542 | 214063 |
|  Zurich Insurance Group AG | 2957 | 2104687 |
|  |  | 24474361 |
|  **Taiwan (4.1%)** |  |  |
|  Alchip Technologies Ltd. | 27000 | 3069591 |
|  ASE Technology Holding Co. Ltd. | 478000 | 2572085 |
|  Chailease Holding Co. Ltd. | 303020 | 1108561 |
|  Delta Electronics, Inc. | 73000 | 2045475 |
|  Hon Hai Precision Industry Co. Ltd. | 577000 | 4089245 |
|  MediaTek, Inc. | 66000 | 2847628 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. | 1148133 | 49160495 |
|  Unimicron Technology Corp. | 377000 | 1873991 |
|  Wiwynn Corp. | 30127 | 3276823 |
|  |  | 70043894 |
|  **United Kingdom (2.6%)** |  |  |
|  3i Group plc | 19479 | 1071208 |
|  Admiral Group plc | 5042 | 227299 |
|  Ashtead Group plc | 8530 | 569585 |
|  Associated British Foods plc | 6158 | 169862 |
|  AstraZeneca plc | 31389 | 4720489 |
|  Auto Trader Group plc(m) | 18661 | 197816 |
|  Aviva plc | 61327 | 565639 |
|  BAE Systems plc | 61385 | 1699842 |
|  Barclays plc | 287522 | 1467869 |
|  Barratt Redrow plc | 27754 | 145535 |
|  British American Tobacco plc | 41902 | 2224292 |
|  BT Group plc | 118600 | 304894 |
|  Bunzl plc | 6309 | 199057 |
|  Centrica plc | 97819 | 219174 |
|  CK Hutchison Holdings Ltd. | 53264 | 350783 |
|  Coca-Cola Europacific Partners plc | 4705 | 425379 |
|  Compass Group plc | 34589 | 1176459 |
|  DCC plc(x) | 2136 | 137086 |
|  Diageo plc | 45345 | 1082780 |
|  Entain plc | 11649 | 136896 |
|  Halma plc | 7918 | 367388 |
|  Hikma Pharmaceuticals plc | 3590 | 81983 |
|  HSBC Holdings plc | 353820 | 4972659 |
|  Imperial Brands plc | 15686 | 666215 |
|  Informa plc | 26205 | 323391 |
|  InterContinental Hotels Group plc | 2952 | 356281 |
|  International Consolidated Airlines Group SA | 23424 | 121884 |
|  Intertek Group plc | 3254 | 206649 |
|  J Sainsbury plc | 34539 | 155148 |
|  JD Sports Fashion plc | 51464 | 65961 |
|  Kingfisher plc | 34827 | 144591 |
|  Land Securities Group plc (REIT) | 14674 | 114858 |
|  Legal & General Group plc | 118239 | 378467 |
|  Lloyds Banking Group plc | 1208205 | 1362004 |
|  London Stock Exchange Group plc | 9560 | 1094923 |
|  M&G plc | 47013 | 159966 |
|  Marks & Spencer Group plc | 42742 | 209528 |
|  Melrose Industries plc | 24342 | 199306 |
|  National Grid plc | 99791 | 1432680 |
|  NatWest Group plc | 164206 | 1151905 |
|  Next plc | 2352 | 391447 |
|  Pearson plc | 12597 | 178989 |
|  Phoenix Group Holdings plc | 14545 | 125879 |
|  Reckitt Benckiser Group plc | 13842 | 1064469 |
|  RELX plc | 37192 | 1779194 |
|  Rentokil Initial plc | 51438 | 259974 |
|  Rolls-Royce Holdings plc | 171072 | 2737889 |
|  Sage Group plc (The) | 19915 | 294620 |
|  Schroders plc | 14730 | 74487 |
|  Segro plc (REIT) | 26711 | 235443 |
|  Severn Trent plc | 5631 | 195993 |
|  Smith & Nephew plc | 16403 | 295058 |
|  Smiths Group plc | 6757 | 213738 |
|  Spirax Group plc | 1403 | 128592 |
|  SSE plc | 22463 | 526116 |
|  Standard Chartered plc | 39837 | 769095 |
|  Tesco plc | 133697 | 801049 |
|  Unilever plc | 49811 | 2947596 |
|  United Utilities Group plc | 13789 | 212616 |
|  Vodafone Group plc | 389990 | 451907 |
|  Whitbread plc | 3531 | 152913 |
|  Wise plc, Class A\* | 13996 | 194820 |
|  WPP plc | 22663 | 112103 |
|  |  | 44801718 |
|  **United States (39.1%)** |  |  |
|  3M Co. | 4436 | 688378 |
|  A.O. Smith Corp. | 934 | 68565 |
|  Abbott Laboratories | 14297 | 1914940 |
|  AbbVie, Inc. | 14511 | 3359877 |
|  Adobe, Inc.\* | 3485 | 1229334 |
|  Advanced Micro Devices, Inc.\* | 13331 | 2156823 |
|  AES Corp. (The) | 6277 | 82605 |
|  Aflac, Inc. | 3914 | 437194 |
|  Agilent Technologies, Inc. | 2349 | 301494 |
|  Air Products and Chemicals, Inc. | 1852 | 505077 |
|  Airbnb, Inc., Class A\* | 3588 | 435655 |
|  Akamai Technologies, Inc.\* | 1119 | 84775 |
|  Albemarle Corp.(x) | 1024 | 83026 |
|  Alcon AG | 10039 | 747329 |
|  Alexandria Real Estate Equities, Inc. (REIT) | 1253 | 104425 |
|  Align Technology, Inc.\* | 507 | 63487 |
|  Allegion plc | 739 | 131062 |
|  Alliant Energy Corp. | 2097 | 141359 |
|  Allstate Corp. (The) | 2193 | 470727 |
|  Alphabet, Inc., Class A | 153908 | 37415035 |
|  Alphabet, Inc., Class C | 38359 | 9342334 |
|  Altria Group, Inc. | 13719 | 906277 |
|  Amazon.com, Inc.\* | 104591 | 22965046 |
|  Amcor plc | 19996 | 163567 |
|  Ameren Corp. | 2194 | 229010 |
|  American Electric Power Co., Inc. | 4433 | 498713 |
|  American Express Co. | 4459 | 1481101 |
|  American International Group, Inc. | 4551 | 357436 |
|  American Tower Corp. (REIT) | 3881 | 746394 |
|  American Water Works Co., Inc. | 1588 | 221034 |
|  Ameriprise Financial, Inc. | 764 | 375315 |
|  AMETEK, Inc. | 1893 | 355884 |
|  Amgen, Inc. | 4404 | 1242809 |
|  Amphenol Corp., Class A | 10067 | 1245791 |
|  Amrize Ltd.\* | 10564 | 509455 |
|  Analog Devices, Inc. | 36936 | 9075175 |
|  Aon plc, Class A | 1778 | 633999 |
|  APA Corp. | 2671 | 64852 |
|  Apollo Global Management, Inc. | 3715 | 495098 |
|  Apple, Inc. | 121904 | 31040416 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/GLOBAL EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Applied Materials, Inc. | 6592 | $1349646 |
|  AppLovin Corp., Class A\* | 2224 | 1598033 |
|  Arch Capital Group Ltd. | 3030 | 274912 |
|  Archer-Daniels-Midland Co. | 4050 | 241947 |
|  Arista Networks, Inc.\* | 8437 | 1229355 |
|  ARM Holdings plc (ADR)(x)\* | 14547 | 2058255 |
|  Arthur J Gallagher & Co. | 2131 | 660056 |
|  Assurant, Inc. | 424 | 91838 |
|  AT&T, Inc. | 58736 | 1658705 |
|  Atmos Energy Corp. | 1303 | 222487 |
|  Autodesk, Inc.\* | 1750 | 555923 |
|  Automatic Data Processing, Inc. | 3311 | 971779 |
|  AutoZone, Inc.\* | 136 | 583473 |
|  AvalonBay Communities, Inc. (REIT) | 1155 | 223111 |
|  Avery Dennison Corp. | 638 | 103464 |
|  Axon Enterprise, Inc.\* | 651 | 467184 |
|  Baker Hughes Co. | 8117 | 395460 |
|  Ball Corp. | 2319 | 116924 |
|  Bank of America Corp. | 55976 | 2887802 |
|  Bank of New York Mellon Corp. (The) | 5794 | 631314 |
|  Baxter International, Inc. | 4539 | 103353 |
|  Becton Dickinson & Co. | 2381 | 445652 |
|  Berkshire Hathaway, Inc., Class B\* | 15063 | 7572773 |
|  Best Buy Co., Inc. | 1636 | 123714 |
|  Biogen, Inc.\* | 1218 | 170617 |
|  Bio-Techne Corp. | 1435 | 79829 |
|  BlackRock, Inc.‡ | 1183 | 1379224 |
|  Blackstone, Inc. | 6071 | 1037230 |
|  Block, Inc., Class A\* | 4478 | 323625 |
|  Boeing Co. (The)\* | 6184 | 1334693 |
|  Booking Holdings, Inc. | 266 | 1436206 |
|  Boston Scientific Corp.\* | 47890 | 4675501 |
|  BP plc | 321299 | 1839730 |
|  Bristol-Myers Squibb Co. | 16637 | 750329 |
|  Broadcom, Inc. | 62825 | 20726596 |
|  Broadridge Financial Solutions, Inc. | 957 | 227929 |
|  Brown & Brown, Inc. | 2410 | 226034 |
|  Brown-Forman Corp., Class B | 1502 | 40674 |
|  Builders FirstSource, Inc.\* | 892 | 108155 |
|  Bunge Global SA | 1103 | 89619 |
|  BXP, Inc. (REIT) | 1210 | 89951 |
|  Cadence Design Systems, Inc.\* | 6520 | 2290215 |
|  Camden Property Trust (REIT) | 940 | 100373 |
|  Campbell's Co. (The)(x) | 1625 | 51318 |
|  Capital One Financial Corp. | 5237 | 1113281 |
|  Cardinal Health, Inc. | 1969 | 309054 |
|  CarMax, Inc.\* | 1283 | 57568 |
|  Carnival Corp.\* | 8805 | 254553 |
|  Carrier Global Corp. | 6488 | 387334 |
|  Caterpillar, Inc. | 3848 | 1836073 |
|  Cboe Global Markets, Inc. | 871 | 213613 |
|  CBRE Group, Inc., Class A\* | 2425 | 382083 |
|  CDW Corp. | 1067 | 169952 |
|  Cencora, Inc. | 1593 | 497860 |
|  Centene Corp.\* | 3683 | 131409 |
|  CenterPoint Energy, Inc. | 5521 | 214215 |
|  CF Industries Holdings, Inc. | 1383 | 124055 |
|  CH Robinson Worldwide, Inc. | 943 | 124853 |
|  Charles River Laboratories International, Inc.\* | 449 | 70251 |
|  Charles Schwab Corp. (The) | 14002 | 1336771 |
|  Charter Communications, Inc., Class A(x)\* | 745 | 204953 |
|  Chevron Corp. | 15809 | 2454980 |
|  Chipotle Mexican Grill, Inc.\* | 10935 | 428543 |
|  Chubb Ltd. | 3029 | 854935 |
|  Church & Dwight Co., Inc. | 2078 | 182095 |
|  Cigna Group (The) | 2218 | 639339 |
|  Cincinnati Financial Corp. | 1260 | 199206 |
|  Cintas Corp. | 2856 | 586223 |
|  Cisco Systems, Inc. | 32529 | 2225634 |
|  Citigroup, Inc. | 15122 | 1534883 |
|  Citizens Financial Group, Inc. | 3471 | 184518 |
|  Clorox Co. (The) | 1036 | 127739 |
|  CME Group, Inc. | 2989 | 807598 |
|  CMS Energy Corp. | 2563 | 187765 |
|  Coca-Cola Co. (The) | 31817 | 2110103 |
|  Cognizant Technology Solutions Corp., Class A | 4004 | 268548 |
|  Coinbase Global, Inc., Class A\* | 1858 | 627056 |
|  Colgate-Palmolive Co. | 6575 | 525606 |
|  Comcast Corp., Class A | 30251 | 950486 |
|  Conagra Brands, Inc. | 4300 | 78733 |
|  ConocoPhillips | 10259 | 970399 |
|  Consolidated Edison, Inc. | 2990 | 300555 |
|  Constellation Brands, Inc., Class A | 1173 | 157968 |
|  Constellation Energy Corp. | 2549 | 838799 |
|  Cooper Cos., Inc. (The)\* | 1683 | 115386 |
|  Copart, Inc.\* | 7176 | 322705 |
|  Corning, Inc. | 6362 | 521875 |
|  Corpay, Inc.\* | 579 | 166787 |
|  Corteva, Inc. | 5539 | 374603 |
|  CoStar Group, Inc.\* | 3456 | 291583 |
|  Costco Wholesale Corp. | 3643 | 3372070 |
|  Coterra Energy, Inc. | 6523 | 154269 |
|  Crowdstrike Holdings, Inc., Class A\* | 2041 | 1000866 |
|  Crown Castle, Inc. (REIT) | 3566 | 344083 |
|  CSL Ltd. | 9729 | 1275948 |
|  CSX Corp. | 15482 | 549766 |
|  Cummins, Inc. | 1139 | 481079 |
|  CVS Health Corp. | 10528 | 793706 |
|  CyberArk Software Ltd.\* | 933 | 450779 |
|  Danaher Corp. | 5197 | 1030357 |
|  Darden Restaurants, Inc. | 945 | 179890 |
|  Datadog, Inc., Class A\* | 2625 | 373800 |
|  DaVita, Inc.\* | 248 | 32952 |
|  Dayforce, Inc.\* | 1368 | 94242 |
|  Deckers Outdoor Corp.\* | 1192 | 120833 |
|  Deere & Co. | 2059 | 941498 |
|  Dell Technologies, Inc., Class C | 2496 | 353858 |
|  Delta Air Lines, Inc. | 5204 | 295327 |
|  Devon Energy Corp. | 5369 | 188237 |
|  Dexcom, Inc.\* | 3205 | 215664 |
|  Diamondback Energy, Inc. | 1509 | 215938 |
|  Digital Realty Trust, Inc. (REIT) | 2616 | 452254 |
|  Dollar General Corp. | 1761 | 181999 |
|  Dollar Tree, Inc.\* | 1621 | 152974 |
|  Dominion Energy, Inc. | 6928 | 423786 |
|  Domino's Pizza, Inc. | 248 | 107064 |
|  DoorDash, Inc., Class A\* | 3041 | 827122 |
|  Dover Corp. | 1091 | 182012 |
|  Dow, Inc. | 5973 | 136961 |
|  DR Horton, Inc. | 2299 | 389612 |
|  DTE Energy Co. | 1691 | 239158 |
|  Duke Energy Corp. | 6355 | 786431 |
|  DuPont de Nemours, Inc. | 3428 | 267041 |
|  Eastman Chemical Co. | 1029 | 64878 |
|  Eaton Corp. plc | 3198 | 1196852 |
|  eBay, Inc. | 3683 | 334969 |
|  Ecolab, Inc. | 7867 | 2154457 |
|  Edison International | 3085 | 170539 |
|  Edwards Lifesciences Corp.\* | 4856 | 377651 |
|  Electronic Arts, Inc. | 1807 | 364472 |

---

See Notes to Portfolio of Investments.

------

**EQ ADVISORS TRUST**

EQ/GLOBAL EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Elevance Health, Inc. | 1868 | $603588 |
|  Eli Lilly & Co. | 15234 | 11623542 |
|  EMCOR Group, Inc. | 368 | 239031 |
|  Emerson Electric Co. | 4660 | 611299 |
|  Entergy Corp. | 3701 | 344896 |
|  EOG Resources, Inc. | 4500 | 504540 |
|  EPAM Systems, Inc.\* | 489 | 73736 |
|  EQT Corp. | 5276 | 287173 |
|  Equifax, Inc. | 12246 | 3141466 |
|  Equinix, Inc. (REIT) | 814 | 637557 |
|  Equity Residential (REIT) | 2949 | 190889 |
|  Erie Indemnity Co., Class A | 205 | 65223 |
|  Essex Property Trust, Inc. (REIT) | 522 | 139719 |
|  Estee Lauder Cos., Inc. (The), Class A | 1933 | 170336 |
|  Everest Group Ltd. | 362 | 126783 |
|  Evergy, Inc. | 1911 | 145274 |
|  Eversource Energy | 3159 | 224731 |
|  Exelon Corp. | 8249 | 371288 |
|  Expand Energy Corp. | 1973 | 209612 |
|  Expedia Group, Inc. | 1000 | 213750 |
|  Expeditors International of Washington, Inc. | 1161 | 142327 |
|  Experian plc | 18574 | 929762 |
|  Extra Space Storage, Inc. (REIT) | 1734 | 244390 |
|  Exxon Mobil Corp. | 35020 | 3948505 |
|  F5, Inc.\* | 465 | 150283 |
|  FactSet Research Systems, Inc. | 321 | 91963 |
|  Fair Isaac Corp.\* | 197 | 294816 |
|  Fastenal Co. | 9517 | 466714 |
|  Federal Realty Investment Trust (REIT) | 713 | 72234 |
|  FedEx Corp. | 1767 | 416676 |
|  Ferrovial SE | 10326 | 591372 |
|  Fidelity National Information Services, Inc. | 4200 | 276948 |
|  Fifth Third Bancorp | 5432 | 241996 |
|  First Solar, Inc.\* | 884 | 194949 |
|  FirstEnergy Corp. | 4229 | 193773 |
|  Fiserv, Inc.\* | 4448 | 573481 |
|  Ford Motor Co. | 31964 | 382289 |
|  Fortinet, Inc.\* | 5251 | 441504 |
|  Fortive Corp. | 2863 | 140258 |
|  Fox Corp., Class A | 1716 | 108211 |
|  Fox Corp., Class B | 1150 | 65883 |
|  Franklin Resources, Inc. | 2286 | 52875 |
|  Freeport-McMoRan, Inc. | 11953 | 468797 |
|  Garmin Ltd. | 1350 | 332397 |
|  Gartner, Inc.\* | 606 | 159299 |
|  GE Aerospace | 8711 | 2620443 |
|  GE HealthCare Technologies, Inc. | 3765 | 282752 |
|  GE Vernova, Inc. | 2236 | 1374916 |
|  Gen Digital, Inc. | 4729 | 134256 |
|  Generac Holdings, Inc.\* | 483 | 80854 |
|  General Dynamics Corp. | 2065 | 704165 |
|  General Mills, Inc. | 4485 | 226134 |
|  General Motors Co. | 7878 | 480322 |
|  Genuine Parts Co. | 1134 | 157172 |
|  Gilead Sciences, Inc. | 10179 | 1129869 |
|  Global Payments, Inc. | 2063 | 171394 |
|  Globe Life, Inc. | 638 | 91215 |
|  GoDaddy, Inc., Class A\* | 1085 | 148461 |
|  Goldman Sachs Group, Inc. (The) | 2487 | 1980522 |
|  GSK plc | 82701 | 1751231 |
|  Haleon plc | 182758 | 817010 |
|  Halliburton Co. | 7312 | 179875 |
|  Hartford Insurance Group, Inc. (The) | 2331 | 310932 |
|  Hasbro, Inc. | 1051 | 79718 |
|  HCA Healthcare, Inc. | 1345 | 573239 |
|  Healthpeak Properties, Inc. (REIT) | 5459 | 104540 |
|  Henry Schein, Inc.\* | 952 | 63184 |
|  Hershey Co. (The) | 1189 | 222402 |
|  Hewlett Packard Enterprise Co. | 10987 | 269841 |
|  Hilton Worldwide Holdings, Inc. | 1930 | 500719 |
|  Holcim AG | 10326 | 873504 |
|  Hologic, Inc.\* | 1830 | 123507 |
|  Home Depot, Inc. (The) | 8173 | 3311618 |
|  Honeywell International, Inc. | 5215 | 1097758 |
|  Hormel Foods Corp. | 2437 | 60291 |
|  Host Hotels & Resorts, Inc. (REIT) | 4946 | 84181 |
|  Howmet Aerospace, Inc. | 3339 | 655212 |
|  HP, Inc. | 7960 | 216751 |
|  Hubbell, Inc., Class B | 418 | 179870 |
|  Humana, Inc. | 995 | 258869 |
|  Huntington Bancshares, Inc. | 12193 | 210573 |
|  Huntington Ingalls Industries, Inc. | 341 | 98177 |
|  IDEX Corp. | 623 | 101399 |
|  IDEXX Laboratories, Inc.\* | 2671 | 1706475 |
|  Illinois Tool Works, Inc. | 2166 | 564806 |
|  Incyte Corp.\* | 1348 | 114324 |
|  Ingersoll Rand, Inc. | 2971 | 245464 |
|  Insulet Corp.\* | 595 | 183694 |
|  Intel Corp.\* | 36302 | 1217932 |
|  Interactive Brokers Group, Inc., Class A | 3626 | 249505 |
|  Intercontinental Exchange, Inc. | 4750 | 800280 |
|  International Business Machines Corp. | 7652 | 2159088 |
|  International Flavors & Fragrances, Inc. | 2177 | 133973 |
|  International Paper Co. | 4233 | 196411 |
|  Interpublic Group of Cos., Inc. (The) | 3197 | 89228 |
|  Intuit, Inc. | 12198 | 8330136 |
|  Intuitive Surgical, Inc.\* | 10313 | 4612283 |
|  Invesco Ltd. | 3778 | 86667 |
|  Invitation Homes, Inc. (REIT) | 4692 | 137616 |
|  IQVIA Holdings, Inc.\* | 7605 | 1444494 |
|  Iron Mountain, Inc. (REIT) | 2395 | 244146 |
|  J M Smucker Co. (The) | 809 | 87857 |
|  Jabil, Inc. | 861 | 186983 |
|  Jack Henry & Associates, Inc. | 647 | 96358 |
|  Jacobs Solutions, Inc. | 982 | 147163 |
|  James Hardie Industries plc (CHDI)\* | 11836 | 219919 |
|  JB Hunt Transport Services, Inc. | 632 | 84795 |
|  Johnson & Johnson | 19783 | 3668164 |
|  Johnson Controls International plc | 5375 | 590981 |
|  JPMorgan Chase & Co. | 22587 | 7124617 |
|  Kellanova | 2272 | 186349 |
|  Kenvue, Inc. | 15661 | 254178 |
|  Keurig Dr Pepper, Inc. | 11176 | 285100 |
|  KeyCorp | 7379 | 137914 |
|  Keysight Technologies, Inc.\* | 1409 | 246462 |
|  Kimberly-Clark Corp. | 2716 | 337707 |
|  Kimco Realty Corp. (REIT) | 5627 | 122950 |
|  Kinder Morgan, Inc. | 15966 | 451997 |
|  KKR & Co., Inc. | 5633 | 732008 |
|  KLA Corp. | 1081 | 1165967 |
|  Kraft Heinz Co. (The) | 7041 | 183348 |
|  Kroger Co. (The) | 4940 | 333005 |
|  L3Harris Technologies, Inc. | 1544 | 471553 |
|  Labcorp Holdings, Inc. | 696 | 199794 |
|  Lam Research Corp. | 64780 | 8674042 |
|  Lamb Weston Holdings, Inc. | 1025 | 59532 |
|  Las Vegas Sands Corp. | 2449 | 131732 |

---

See Notes to Portfolio of Investments.

500

------

**EQ ADVISORS TRUST**

EQ/GLOBAL EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Leidos Holdings, Inc. | 1056 | $199542 |
|  Lennar Corp., Class A | 1914 | 241241 |
|  Lennox International, Inc. | 262 | 138692 |
|  Linde plc | 5650 | 2683750 |
|  Live Nation Entertainment, Inc.\* | 1272 | 207845 |
|  LKQ Corp. | 2284 | 69753 |
|  Lockheed Martin Corp. | 1685 | 841169 |
|  Loews Corp. | 1418 | 142353 |
|  Lowe's Cos., Inc. | 4586 | 1152508 |
|  Lululemon Athletica, Inc.\* | 901 | 160315 |
|  LyondellBasell Industries NV, Class A | 2098 | 102886 |
|  M&T Bank Corp. | 1259 | 248804 |
|  Marathon Petroleum Corp. | 2536 | 488789 |
|  Marriott International, Inc., Class A | 11402 | 2969537 |
|  Marsh & McLennan Cos., Inc. | 4002 | 806523 |
|  Martin Marietta Materials, Inc. | 504 | 317661 |
|  Marvell Technology, Inc. | 40276 | 3386003 |
|  Masco Corp. | 1653 | 116355 |
|  Mastercard, Inc., Class A | 11193 | 6366690 |
|  Match Group, Inc. | 1914 | 67602 |
|  McCormick & Co., Inc. (Non-Voting) | 2137 | 142987 |
|  McDonald's Corp. | 5862 | 1781403 |
|  McKesson Corp. | 1016 | 784901 |
|  Medtronic plc | 10465 | 996687 |
|  Merck & Co., Inc. | 20518 | 1722076 |
|  Meta Platforms, Inc., Class A | 43443 | 31903670 |
|  MetLife, Inc. | 4519 | 372230 |
|  Mettler-Toledo International, Inc.\* | 168 | 206238 |
|  MGM Resorts International\* | 1574 | 54555 |
|  Microchip Technology, Inc. | 4364 | 280256 |
|  Micron Technology, Inc. | 9177 | 1535496 |
|  Microsoft Corp. | 77113 | 39940678 |
|  Mid-America Apartment Communities, Inc. (REIT) | 970 | 135538 |
|  Moderna, Inc.\* | 2736 | 70671 |
|  Mohawk Industries, Inc.\* | 432 | 55693 |
|  Molina Healthcare, Inc.\* | 462 | 88408 |
|  Molson Coors Beverage Co., Class B | 1269 | 57422 |
|  Monday.com Ltd.\* | 842 | 163087 |
|  Mondelez International, Inc., Class A | 10776 | 673177 |
|  Monolithic Power Systems, Inc. | 390 | 359050 |
|  Monster Beverage Corp.\* | 5792 | 389860 |
|  Moody's Corp. | 1260 | 600365 |
|  Morgan Stanley | 9966 | 1584195 |
|  Mosaic Co. (The) | 2383 | 82642 |
|  Motorola Solutions, Inc. | 1369 | 626030 |
|  MSCI, Inc. | 635 | 360305 |
|  Nasdaq, Inc. | 3724 | 329388 |
|  Nestle SA (Registered) | 52159 | 4787712 |
|  NetApp, Inc. | 1605 | 190128 |
|  Netflix, Inc.\* | 7884 | 9452285 |
|  Newmont Corp. | 8984 | 757441 |
|  News Corp., Class A | 3183 | 97750 |
|  News Corp., Class B | 1004 | 34688 |
|  NextEra Energy, Inc. | 16860 | 1272761 |
|  NIKE, Inc., Class B | 9736 | 678891 |
|  NiSource, Inc. | 3746 | 162202 |
|  Nordson Corp. | 467 | 105986 |
|  Norfolk Southern Corp. | 1830 | 549750 |
|  Northern Trust Corp. | 1517 | 204188 |
|  Northrop Grumman Corp. | 1115 | 679392 |
|  Norwegian Cruise Line Holdings Ltd.\* | 3497 | 86131 |
|  Novartis AG (Registered) | 38438 | 4834386 |
|  NRG Energy, Inc. | 1551 | 251184 |
|  Nucor Corp. | 1878 | 254338 |
|  NVIDIA Corp. | 276265 | 51545524 |
|  NVR, Inc.\* | 22 | 176763 |
|  Occidental Petroleum Corp. | 5831 | 275515 |
|  Old Dominion Freight Line, Inc. | 1501 | 211311 |
|  Omnicom Group, Inc. | 1663 | 135584 |
|  ON Semiconductor Corp.\* | 3271 | 161293 |
|  ONEOK, Inc. | 5098 | 372001 |
|  Oracle Corp. (Moscow Stock Exchange) | 13613 | 3828520 |
|  O'Reilly Automotive, Inc.\* | 7050 | 760061 |
|  Otis Worldwide Corp. | 3236 | 295867 |
|  PACCAR, Inc. | 4337 | 426414 |
|  Packaging Corp. of America | 730 | 159089 |
|  Palantir Technologies, Inc., Class A\* | 18682 | 3407970 |
|  Palo Alto Networks, Inc.\* | 5510 | 1121946 |
|  Paramount Skydance Corp., Class B(x) | 2047 | 38729 |
|  Parker-Hannifin Corp. | 1057 | 801365 |
|  Paychex, Inc. | 2629 | 333252 |
|  Paycom Software, Inc. | 418 | 87003 |
|  PayPal Holdings, Inc.\* | 7798 | 522934 |
|  Pentair plc | 1368 | 151520 |
|  PepsiCo, Inc. | 11246 | 1579388 |
|  Pfizer, Inc. | 46503 | 1184896 |
|  PG&E Corp. | 18032 | 271923 |
|  Phathom Pharmaceuticals, Inc.(x)\* | 55750 | 656178 |
|  Philip Morris International, Inc. | 12786 | 2073889 |
|  Phillips 66 | 3308 | 449954 |
|  Pinnacle West Capital Corp. | 922 | 82667 |
|  PNC Financial Services Group, Inc. (The) | 3223 | 647597 |
|  Pool Corp. | 270 | 83719 |
|  PPG Industries, Inc. | 1827 | 192036 |
|  PPL Corp. | 5985 | 222403 |
|  Principal Financial Group, Inc. | 1695 | 140532 |
|  Procter & Gamble Co. (The) | 19241 | 2956380 |
|  Progressive Corp. (The) | 4799 | 1185113 |
|  Prologis, Inc. (REIT) | 7585 | 868634 |
|  Prudential Financial, Inc. | 2881 | 298875 |
|  PTC, Inc.\* | 975 | 197945 |
|  Public Service Enterprise Group, Inc. | 4070 | 339682 |
|  Public Storage (REIT) | 1294 | 373772 |
|  PulteGroup, Inc. | 1582 | 209030 |
|  QIAGEN NV | 4516 | 199859 |
|  QUALCOMM, Inc. | 8859 | 1473783 |
|  Quanta Services, Inc. | 1223 | 506836 |
|  Quest Diagnostics, Inc. | 898 | 171141 |
|  Ralph Lauren Corp. | 299 | 93754 |
|  Raymond James Financial, Inc. | 1476 | 254758 |
|  Realty Income Corp. (REIT) | 7554 | 459208 |
|  Regency Centers Corp. (REIT) | 1430 | 104247 |
|  Regeneron Pharmaceuticals, Inc. | 837 | 470620 |
|  Regions Financial Corp. | 7165 | 188941 |
|  Republic Services, Inc. | 1670 | 383232 |
|  ResMed, Inc. | 1202 | 329023 |
|  Revvity, Inc. | 939 | 82303 |
|  Robinhood Markets, Inc., Class A\* | 6358 | 910338 |
|  Roche Holding AG (BMV Mexico Stock Exchange) | 14182 | 4630239 |
|  Roche Holding AG (OTC US Exchange) | 672 | 229783 |
|  Rockwell Automation, Inc. | 921 | 321917 |
|  Rollins, Inc. | 2227 | 130814 |
|  Roper Technologies, Inc. | 889 | 443335 |
|  Ross Stores, Inc. | 2717 | 414044 |
|  Royal Caribbean Cruises Ltd. | 2079 | 672723 |
|  RTX Corp. | 10995 | 1839793 |

---

See Notes to Portfolio of Investments.

501

------

**EQ ADVISORS TRUST**

EQ/GLOBAL EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  S&P Global, Inc. | 22945 | $11167561 |
|  Salesforce, Inc. | 7853 | 1861161 |
|  Sanofi SA | 22346 | 2060785 |
|  SBA Communications Corp. (REIT) | 855 | 165314 |
|  Schlumberger NV | 12406 | 426394 |
|  Schneider Electric SE | 11143 | 3108388 |
|  Seagate Technology Holdings plc | 1725 | 407204 |
|  Sempra | 5467 | 491921 |
|  ServiceNow, Inc.\* | 3337 | 3070974 |
|  Shell plc | 119312 | 4246646 |
|  Sherwin-Williams Co. (The) | 1909 | 661010 |
|  Simon Property Group, Inc. (REIT) | 2682 | 503331 |
|  Skyworks Solutions, Inc. | 1143 | 87988 |
|  Smurfit WestRock plc | 4212 | 179305 |
|  Snap-on, Inc. | 429 | 148661 |
|  Solventum Corp.\* | 1249 | 91177 |
|  Southern Co. (The) | 8996 | 852551 |
|  Southwest Airlines Co. | 4153 | 132522 |
|  Spotify Technology SA\* | 6702 | 4677996 |
|  Stanley Black & Decker, Inc. | 1289 | 95811 |
|  Starbucks Corp. | 9448 | 799301 |
|  State Street Corp. | 2324 | 269607 |
|  Steel Dynamics, Inc. | 1157 | 161321 |
|  Stellantis NV | 40517 | 374083 |
|  STERIS plc | 792 | 195972 |
|  Stryker Corp. | 5893 | 2178465 |
|  Super Micro Computer, Inc.(x)\* | 4272 | 204800 |
|  Swiss Re AG | 6124 | 1131253 |
|  Synchrony Financial | 3134 | 222671 |
|  Synopsys, Inc.\* | 1539 | 759327 |
|  Sysco Corp. | 3973 | 327137 |
| T. Rowe Price Group, Inc. | 1768 | 181468 |
|  Take-Two Interactive Software, Inc.\* | 1417 | 366096 |
|  Tapestry, Inc. | 1738 | 196776 |
|  Targa Resources Corp. | 1764 | 295541 |
|  Target Corp. | 3819 | 342564 |
|  Teledyne Technologies, Inc.\* | 394 | 230900 |
|  Tenaris SA | 7949 | 141761 |
|  Teradyne, Inc. | 1302 | 179207 |
|  Tesla, Inc.\* | 23051 | 10251241 |
|  Texas Instruments, Inc. | 7451 | 1368972 |
|  Texas Pacific Land Corp. | 157 | 146581 |
|  Textron, Inc. | 1507 | 127326 |
|  Thermo Fisher Scientific, Inc. | 8707 | 4223069 |
|  TJX Cos., Inc. (The) | 22678 | 3277878 |
|  TKO Group Holdings, Inc., Class A | 537 | 108453 |
|  T-Mobile US, Inc. | 3969 | 950099 |
|  Tractor Supply Co. | 4345 | 247100 |
|  Trade Desk, Inc. (The), Class A\* | 3517 | 172368 |
|  Trane Technologies plc | 1846 | 778938 |
|  TransDigm Group, Inc. | 467 | 615515 |
|  Travelers Cos., Inc. (The) | 1835 | 512369 |
|  Trimble, Inc.\* | 1952 | 159381 |
|  Truist Financial Corp. | 10463 | 478368 |
|  Tyler Technologies, Inc.\* | 369 | 193046 |
|  Tyson Foods, Inc., Class A | 2240 | 121632 |
|  Uber Technologies, Inc.\* | 17130 | 1678226 |
|  UDR, Inc. (REIT) | 2550 | 95013 |
|  Ulta Beauty, Inc.\* | 375 | 205031 |
|  Union Pacific Corp. | 4871 | 1151358 |
|  United Airlines Holdings, Inc.\* | 2651 | 255822 |
|  United Parcel Service, Inc., Class B | 6096 | 509199 |
|  United Rentals, Inc. | 520 | 496423 |
|  UnitedHealth Group, Inc. | 7440 | 2569032 |
|  Universal Health Services, Inc., Class B | 436 | 89136 |
|  US Bancorp | 12767 | 617029 |
|  Valero Energy Corp. | 2511 | 427523 |
|  Ventas, Inc. (REIT) | 3680 | 257563 |
|  Veralto Corp. | 2110 | 224947 |
|  VeriSign, Inc. | 684 | 191226 |
|  Verisk Analytics, Inc. | 1177 | 296027 |
|  Verizon Communications, Inc. | 34634 | 1522164 |
|  Vertex Pharmaceuticals, Inc.\* | 2127 | 833018 |
|  Viatris, Inc. | 9449 | 93545 |
|  VICI Properties, Inc. (REIT), Class A | 8688 | 283316 |
|  Visa, Inc., Class A | 37630 | 12846129 |
|  Vistra Corp. | 2616 | 512527 |
|  Vulcan Materials Co. | 1074 | 330384 |
|  W.R. Berkley Corp. | 2490 | 190784 |
|  W.W. Grainger, Inc. | 369 | 351642 |
|  Walmart, Inc. | 35957 | 3705728 |
|  Walt Disney Co. (The) | 14769 | 1691051 |
|  Warner Bros Discovery, Inc.\* | 20337 | 397182 |
|  Waste Management, Inc. | 3048 | 673090 |
|  Waters Corp.\* | 509 | 152603 |
|  WEC Energy Group, Inc. | 2615 | 299653 |
|  Wells Fargo & Co. | 26314 | 2205640 |
|  Welltower, Inc. (REIT) | 5494 | 978701 |
|  West Pharmaceutical Services, Inc. | 578 | 151627 |
|  Western Digital Corp. | 2864 | 343852 |
|  Westinghouse Air Brake Technologies Corp. | 1405 | 281660 |
|  Weyerhaeuser Co. (REIT) | 6064 | 150327 |
|  Williams Cos., Inc. (The) | 10162 | 643763 |
|  Williams-Sonoma, Inc. | 1020 | 199359 |
|  Willis Towers Watson plc | 805 | 278087 |
|  Workday, Inc., Class A\* | 1759 | 423444 |
|  Wynn Resorts Ltd. | 758 | 97229 |
|  Xcel Energy, Inc. | 4964 | 400347 |
|  Xylem, Inc. | 2001 | 295148 |
|  Yum! Brands, Inc. | 2279 | 346408 |
|  Zebra Technologies Corp., Class A\* | 428 | 127184 |
|  Zimmer Biomet Holdings, Inc. | 1694 | 166859 |
|  Zoetis, Inc. | 7820 | 1144222 |
|  |  | 674433529 |
|  **Total Common Stocks (80.6%)**<br> *(Cost $551,917,664)* |  | 1391506794 |
|  | **Number of<br>Rights** | **Value<br>(Note 1)** |
|  RIGHTS: |  |  |
|  **Belgium (0.0%)†** |  |  |
|  Sofina SA, expiring 10/2/25(x)\* | 229 | 511 |
|  **Denmark (0.0%)†** |  |  |
|  Orsted A/S, expiring 10/2/25\* | 48780 | 48565 |
|  **Total Rights (0.0%)†<br>(***Cost $52,073***)** |  | 49076 |
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (5.1%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 3652327 | 3652327 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 82417832 | 82450799 |

---

See Notes to Portfolio of Investments.

502

------

**EQ ADVISORS TRUST**

EQ/GLOBAL EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 1000000 | $1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 87103126 |
|  **Total Short-Term Investments (5.1%)**<br> *(Cost $87,093,429)* |  | 87103126 |
|  **Total Investments in Securities (85.7%)**<br> *(Cost $639,063,166)* |  | 1478658996 |
|  **Other Assets Less Liabilities (14.3%)** |  | 247711135 |
|  **Net Assets (100%)** |  | $1726370131 |

---

*\** *Non-income producing.* 

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

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $25,055,867 or 1.5% of net assets.* 

*(q)* *Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $16,633,239. This was collateralized by $12,763,533 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.000%, maturing 10/9/25 – 5/15/55 and by cash of $4,652,327 which was subsequently invested in investment companies.* 

See Notes to Portfolio of Investments.

503

------

**EQ ADVISORS TRUST**

EQ/GLOBAL EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*Glossary:* 

*ADR — American Depositary Receipt* 

*AUD — Australian Dollar* 

*CHDI — Clearing House Electronic Subregister System (CHESS) Depository Interest* 

*CVA — Dutch Certification* 

*EUR — European Currency Unit* 

*GBP — British Pound* 

*JPY — Japanese Yen* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

---

| | | |
|:---|:---|:---|
| **Sector Weightings**<br> **as of September 30, 2025** | **Market Value** | **% of<br>Net Assets** |
|  Information Technology | $369837081 | 21.4% |
|  Financials | 257018764 | 14.9 |
|  Consumer Discretionary | 151684777 | 8.8 |
|  Communication Services | 148268832 | 8.6 |
|  Industrials | 146245374 | 8.5 |
|  Health Care | 121741948 | 7.0 |
|  Investment Companies | 87103126 | 5.1 |
|  Consumer Staples | 70283098 | 4.1 |
|  Materials | 42823304 | 2.5 |
|  Energy | 30797419 | 1.8 |
|  Real Estate | 28333034 | 1.6 |
|  Utilities | 24522239 | 1.4 |
|  Cash and Other | 247711135 | 14.3 |
|  |  | 100.0% |

---

See Notes to Portfolio of Investments.

504

------

**EQ ADVISORS TRUST**

EQ/GLOBAL EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases<br>at<br>Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/<br>Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  COMMON STOCKS: |  |  |  |  |  |  |  |  |  |
|  **Financials** |  |  |  |  |  |  |  |  |  |
|  **Capital Markets** |  |  |  |  |  |  |  |  |  |
|  BlackRock, Inc. | 1183 | 1289588 | 85264 | (164510) | 31014 | 137868 | 1379224 | 19876 |  |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional**<br>**Amount ($)** | **Value and<br>Unrealized<br>Appreciation**<br>**(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  EURO STOXX 50 Index | 929 | 12/2025 | EUR | 60435269 | 1136395 |
|  FTSE 100 Index | 299 | 12/2025 | GBP | 37829919 | 273611 |
|  S&P 500 E-Mini Index | 545 | 12/2025 | USD | 183630937 | 2192867 |
|  SPI 200 Index | 103 | 12/2025 | AUD | 15118505 | (19971) |
|  TOPIX Index | 175 | 12/2025 | JPY | 37169084 | 458395 |
|  |  |  |  |  | 4041297 |

---

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)<br>($)** |
|  USD | 369186 | JPY | 53823633 | HSBC Bank plc | 12/19/2025 | 2231 |
|  **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** |  |  | 2231 |
|  AUD | 18567488 | USD | 12360005 | HSBC Bank plc | 12/19/2025 | (62465) |
|  GBP | 3380748 | USD | 4584661 | HSBC Bank plc | 12/19/2025 | (37497) |
|  USD | 4525382 | EUR | 3837628 | HSBC Bank plc | 12/19/2025 | (856) |
|  **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** |  |  | (100818) |
|  **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** |  |  | (98587) |

---

See Notes to Portfolio of Investments.

505

------

**EQ ADVISORS TRUST**

EQ/GLOBAL EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Australia | $— | $27579084 | $— | $27579084 |
|  Austria |  | 985535 |  | 985535 |
|  Belgium |  | 3246780 |  | 3246780 |
|  Brazil | 17325179 | 107631 |  | 17432810 |
|  Canada | 5878120 |  |  | 5878120 |
|  Chile |  | 5876134 |  | 5876134 |
|  China | 9805733 | 64121166 |  | 73926899 |
|  Czech Republic |  | 1611571 |  | 1611571 |
|  Denmark |  | 7402515 |  | 7402515 |
|  Finland |  | 4248059 |  | 4248059 |
|  France |  | 52523448 |  | 52523448 |
|  Germany |  | 48240931 |  | 48240931 |
|  Hong Kong | 397108 | 7276647 |  | 7673755 |
|  India | 10506289 | 60015990 |  | 70522279 |
|  Indonesia |  | 1055143 |  | 1055143 |
|  Ireland | 1689583 | 1263684 |  | 2953267 |
|  Israel | 2200847 | 2580637 |  | 4781484 |
|  Italy |  | 16970949 |  | 16970949 |
|  Japan |  | 94220422 |  | 94220422 |
|  Jersey | 157524 |  |  | 157524 |
|  Luxembourg |  | 603728 |  | 603728 |
|  Macau |  | 379673 |  | 379673 |
|  Malaysia |  | 3267568 |  | 3267568 |
|  Mexico | 11576204 | 135243 |  | 11711447 |
|  Netherlands | 478688 | 23595936 |  | 24074624 |
|  New Zealand |  | 1077259 |  | 1077259 |
|  Norway |  | 2245688 |  | 2245688 |
|  Peru | 1320749 |  |  | 1320749 |
|  Poland |  | 7991812 |  | 7991812 |
|  Portugal |  | 735704 |  | 735704 |
|  Singapore | 1688752 | 5540504 |  | 7229256 |
|  South Africa |  | 9197259 |  | 9197259 |
|  South Korea |  | 28489259 |  | 28489259 |
|  Spain |  | 17193006 |  | 17193006 |
|  Sweden |  | 14949551 |  | 14949551 |
|  Switzerland | 527311 | 23947050 |  | 24474361 |
|  Taiwan |  | 70043894 |  | 70043894 |
|  United Kingdom | 425379 | 44376339 |  | 44801718 |
|  United States | 639133374 | 35300155 |  | 674433529 |
|  **Forward Currency Contracts** |  | 2231 |  | 2231 |
|  **Futures** | 4061268 |  |  | 4061268 |
|  **Rights** |  |  |  |  |
|  Belgium |  | 511 |  | 511 |
|  Denmark |  | 48565 |  | 48565 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 87103126 |  |  | 87103126 |
|  **Total Assets** | $**794275234** | $**688447261** | $**—** | $**1482722495** |
|  **Liabilities:** |  |  |  |  |
|  **Forward Currency Contracts** | $— | $(100818) | $— | $(100818) |
|  **Futures** | (19971) |  |  | (19971) |
|  **Total Liabilities** | $**(19971)** | $**(100818)** | $**—** | $**(120789)** |
|  **Total** | $**794255263** | $**688346443** | $**—** | $**1482601706** |

---

See Notes to Portfolio of Investments.

506

------

**EQ ADVISORS TRUST**

EQ/GLOBAL EQUITY MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $865333964 |
|  Aggregate gross unrealized depreciation | (26097523) |
|  Net unrealized appreciation | $839236441 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $643365265 |

---

See Notes to Portfolio of Investments.

507

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**EQ ADVISORS TRUST** 

EQ/GOLDMAN SACHS GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (31.9%)** |  |  |
|  iShares Core S&P 500 ETF | 44000 | $29449200 |
|  SPDR S&P 500 ETF Trust(x) | 270152 | 179969860 |
|  Vanguard S&P 500 ETF | 48100 | 29455478 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 238874538 |
|  **Fixed Income (30.0%)** |  |  |
|  Vanguard Intermediate-Term Corporate Bond ETF(x) | 2664800 | 224136328 |
|  **Total Exchange Traded Funds (61.9%)**<br>(*Cost $370,710,696)* |  | 463010866 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (39.2%)** |  |  |
|  Allspring Government Money Market Fund, Select Shares 4.07% (7 day yield) (xx) | 1000000 | 1000000 |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 2000000 | 2000000 |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 7000000 | 7000000 |
|  Goldman Sachs Financial Square Funds - Government Fund 4.03% (7 day yield) ‡ | 58517488 | 58517488 |
|  Goldman Sachs Financial Square Funds - Treasury Obligations Fund 3.99% (7 day yield) ‡ | 54324011 | 54324011 |
|  Goldman Sachs Financial Square Funds - Treasury Solutions Fund 3.95% (7 day yield) ‡ | 56394988 | 56394988 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 10874471 | 10874471 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 100444966 | 100485143 |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 3000000 | 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 293596101 |
|  **Total Short-Term Investments (39.2%)**<br> *(Cost $293,589,756)* |  | 293596101 |
|  **Total Investments in Securities (101.1%)**<br> *(Cost $664,300,452)* |  | 756606967 |
|  **Other Assets Less Liabilities (-1.1%)** |  | (8196396) |
|  **Net Assets (100%)** |  | $748410571 |

---

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

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $208,096,294. This was collateralized by $188,456,715 of various U.S. Government Treasury Securities, ranging from 0.125% – 5.375%, maturing 7/15/26 – 2/15/55 and by cash of $23,874,471 which was subsequently invested in investment companies.* 

*Glossary:* 

*EUR — European Currency Unit* 

*GBP — British Pound* 

*JPY — Japanese Yen* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

508

------

**EQ ADVISORS TRUST** 

EQ/GOLDMAN SACHS GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases at<br>Cost ($)** | **Proceeds<br>from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/<br>Interest<br>Income**<br>**($)** | **Capital Gain<br>Distributions<br>($)** |
|  SHORT-TERM INVESTMENTS: |  |  |  |  |  |  |  |  |  |
|  **Investment Companies** |  |  |  |  |  |  |  |  |  |
|  Goldman Sachs Financial Square Funds - Government Fund 4.03% (7 day yield) | 58517488 | 47478257 | 14632051 | (3592820) |  |  | 58517488 | 1609305 |  |
|  Goldman Sachs Financial Square Funds - Treasury Obligations Fund 3.99% (7 day yield) | 54324011 | 43410815 | 14506016 | (3592820) |  |  | 54324011 | 1460213 |  |
|  Goldman Sachs Financial Square Funds - Treasury Solutions Fund 3.95% (7 day yield) | 56394988 | 45434067 | 14553741 | (3592820) |  |  | 56394988 | 1551217 |  |
|  **Total** |  | **136323139** | **43691808** | **(10778460)** |  |  | **169236487** | **4620735** |  |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional**<br>**Amount ($)** | **Value and<br>Unrealized<br>Appreciation**<br>**(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  EURO STOXX 50 Index | 1008 | 12/2025 | EUR | 65574543 | 1934659 |
|  FTSE 100 Index | 355 | 12/2025 | GBP | 44915121 | 722590 |
|  Russell 2000 E-Mini Index | 366 | 12/2025 | USD | 44935650 | 721447 |
|  S&P 500 E-Mini Index | 56 | 12/2025 | USD | 18868500 | 169130 |
|  S&P Midcap 400 E-Mini Index | 199 | 12/2025 | USD | 65395380 | (449847) |
|  TOPIX Index | 222 | 12/2025 | JPY | 47151638 | 579690 |
|  |  |  |  |  | 3677669 |

---

See Notes to Portfolio of Investments.

509

------

**EQ ADVISORS TRUST** 

EQ/GOLDMAN SACHS GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Exchange Traded Funds** | $463010866 | $— | $— | $463010866 |
|  **Futures** | 4127516 |  |  | 4127516 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 293596101 |  |  | 293596101 |
|  **Total Assets** | $**760734483** | $**—** | $**—** | $**760734483** |
|  **Liabilities:** |  |  |  |  |
|  **Futures** | $(449847) | $— | $— | $(449847) |
|  **Total Liabilities** | $**(449847)** | $**—** | $**—** | $**(449847)** |
|  **Total** | $**760284636** | $**—** | $**—** | $**760284636** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $102533170 |
|  Aggregate gross unrealized depreciation | (449847) |
|  Net unrealized appreciation | $102083323 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $658201313 |

---

See Notes to Portfolio of Investments.

510

------

**EQ ADVISORS TRUST** 

EQ/GOLDMAN SACHS MID CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (2.0%)** |  |  |
|  ***Entertainment (2.0%)*** |  |  |
|  Live Nation Entertainment, Inc.\* | 7557 | $1234814 |
|  TKO Group Holdings, Inc., Class A | 10682 | 2157336 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 3392150 |
|  **Consumer Discretionary (8.8%)** |  |  |
|  ***Automobile Components (1.2%)*** |  |  |
|  Aptiv plc\* | 24204 | 2086869 |
|  ***Broadline Retail (0.4%)*** |  |  |
|  eBay, Inc. | 7353 | 668755 |
|  ***Hotels, Restaurants & Leisure (1.2%)*** |  |  |
|  Boyd Gaming Corp. | 11545 | 998065 |
|  Royal Caribbean Cruises Ltd. | 2913 | 942589 |
|  |  | 1940654 |
|  ***Household Durables (2.1%)*** |  |  |
|  DR Horton, Inc. | 20659 | 3501080 |
|  ***Specialty Retail (2.7%)*** |  |  |
|  AutoZone, Inc.\* | 274 | 1175526 |
|  Ross Stores, Inc. | 22536 | 3434261 |
|  |  | 4609787 |
|  ***Textiles, Apparel & Luxury Goods (1.2%)*** |  |  |
|  Tapestry, Inc. | 17923 | 2029242 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 14836387 |
|  **Consumer Staples (5.3%)** |  |  |
|  ***Beverages (2.3%)*** |  |  |
|  Coca-Cola Europacific Partners plc | 42275 | 3822083 |
|  ***Consumer Staples Distribution & Retail (3.0%)*** |  |  |
|  BJ's Wholesale Club Holdings, Inc.\* | 30330 | 2828273 |
|  Performance Food Group Co.\* | 21537 | 2240709 |
|  |  | 5068982 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 8891065 |
|  **Energy (9.0%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (9.0%)*** |  |  |
|  BKV Corp.\* | 63913 | 1478308 |
|  Cheniere Energy, Inc. | 7651 | 1797832 |
|  Diamondback Energy, Inc. | 10047 | 1437726 |
|  DT Midstream, Inc. | 14930 | 1687986 |
|  Expand Energy Corp. | 28500 | 3027840 |
|  Kinetik Holdings, Inc., Class A(x) | 17387 | 743120 |
|  Marathon Petroleum Corp. | 7792 | 1501830 |
|  Permian Resources Corp. | 89043 | 1139750 |
|  Phillips 66 | 17466 | 2375725 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 15190117 |
|  **Financials (16.5%)** |  |  |
|  ***Banks (4.8%)*** |  |  |
|  Citizens Financial Group, Inc. | 43364 | 2305230 |
|  Fifth Third Bancorp | 47511 | 2116615 |
|  First Horizon Corp. | 41591 | 940373 |
|  SouthState Bank Corp. | 14620 | 1445479 |
|  Wintrust Financial Corp. | 9738 | 1289701 |
|  |  | 8097398 |
|  ***Capital Markets (3.1%)*** |  |  |
|  Jefferies Financial Group, Inc. | 22736 | 1487389 |
|  Nasdaq, Inc. | 16949 | 1499139 |
|  Raymond James Financial, Inc. | 13410 | 2314566 |
|  |  | 5301094 |
|  ***Financial Services (3.2%)*** |  |  |
|  Corebridge Financial, Inc. | 36358 | 1165274 |
|  Fidelity National Information Services, Inc. | 38701 | 2551944 |
|  Global Payments, Inc. | 17038 | 1415517 |
|  Klarna Group plc(x)\* | 7354 | 269524 |
|  |  | 5402259 |
|  ***Insurance (5.4%)*** |  |  |
|  American Financial Group, Inc. | 12786 | 1863176 |
|  Arch Capital Group Ltd. | 10563 | 958381 |
|  Brown & Brown, Inc. | 17527 | 1643857 |
|  Globe Life, Inc. | 10068 | 1439422 |
|  Prudential Financial, Inc. | 18840 | 1954461 |
|  Unum Group | 15997 | 1244247 |
|  |  | 9103544 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 27904295 |
|  **Health Care (5.9%)** |  |  |
|  ***Health Care Providers & Services (3.1%)*** |  |  |
|  Cencora, Inc. | 8294 | 2592124 |
|  Humana, Inc. | 4464 | 1161399 |
|  Quest Diagnostics, Inc. | 7653 | 1458509 |
|  |  | 5212032 |
|  ***Life Sciences Tools & Services (2.3%)*** |  |  |
|  Agilent Technologies, Inc. | 19247 | 2470352 |
|  Mettler-Toledo International, Inc.\* | 1168 | 1433849 |
|  |  | 3904201 |
|  ***Pharmaceuticals (0.5%)*** |  |  |
|  Royalty Pharma plc, Class A | 23258 | 820542 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 9936775 |
|  **Industrials (18.7%)** |  |  |
|  ***Aerospace & Defense (2.6%)*** |  |  |
|  L3Harris Technologies, Inc. | 9879 | 3017145 |
|  Woodward, Inc. | 5210 | 1316619 |
|  |  | 4333764 |
|  ***Building Products (1.3%)*** |  |  |
|  Builders FirstSource, Inc.\* | 18787 | 2277924 |
|  ***Electrical Equipment (5.3%)*** |  |  |
|  AMETEK, Inc. | 21741 | 4087308 |
|  Rockwell Automation, Inc. | 11709 | 4092647 |
|  Vertiv Holdings Co., Class A | 5346 | 806497 |
|  |  | 8986452 |
|  ***Ground Transportation (0.7%)*** |  |  |
|  Saia, Inc.\* | 3758 | 1124995 |
|  ***Machinery (3.4%)*** |  |  |
|  IDEX Corp. | 5391 | 877439 |
|  Ingersoll Rand, Inc. | 21365 | 1765176 |
|  ITT, Inc. | 6759 | 1208239 |
|  Stanley Black & Decker, Inc. | 25057 | 1862487 |
|  |  | 5713341 |
|  ***Passenger Airlines (1.9%)*** |  |  |
|  United Airlines Holdings, Inc.\* | 32622 | 3148023 |
|  ***Trading Companies & Distributors (3.5%)*** |  |  |
|  Fastenal Co. | 55343 | 2714021 |
|  United Rentals, Inc. | 3383 | 3229615 |
|  |  | 5943636 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 31528135 |
|  **Information Technology (9.3%)** |  |  |
|  ***Electronic Equipment, Instruments & Components (2.1%)*** |  |  |
|  Jabil, Inc. | 4718 | 1024608 |

---

See Notes to Portfolio of Investments.

511

------

**EQ ADVISORS TRUST** 

EQ/GOLDMAN SACHS MID CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Mirion Technologies, Inc., Class A(x)\* | 108176 | $2516174 |
|  |  | 3540782 |
|  ***Semiconductors & Semiconductor Equipment (2.8%)*** |  |  |
|  Marvell Technology, Inc. | 25168 | 2115874 |
|  Microchip Technology, Inc. | 24267 | 1558426 |
|  Teradyne, Inc. | 8142 | 1120665 |
|  |  | 4794965 |
|  ***Software (1.1%)*** |  |  |
|  Dynatrace, Inc.\* | 24923 | 1207520 |
|  Netskope, Inc., Class A\* | 26433 | 600822 |
|  |  | 1808342 |
|  ***Technology Hardware, Storage & Peripherals (3.3%)*** |  |  |
|  Hewlett Packard Enterprise Co. | 97076 | 2384186 |
|  Western Digital Corp. | 26993 | 3240780 |
|  |  | 5624966 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 15769055 |
|  **Materials (8.0%)** |  |  |
|  ***Chemicals (2.4%)*** |  |  |
|  Chemours Co. (The) | 53550 | 848232 |
|  RPM International, Inc. | 16944 | 1997359 |
|  Westlake Corp. | 16336 | 1258852 |
|  |  | 4104443 |
|  ***Construction Materials (2.5%)*** |  |  |
|  Martin Marietta Materials, Inc. | 6585 | 4150394 |
|  ***Containers & Packaging (1.8%)*** |  |  |
|  International Paper Co. | 67132 | 3114925 |
|  ***Metals & Mining (1.3%)*** |  |  |
|  Steel Dynamics, Inc. | 15299 | 2133139 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 13502901 |
|  **Real Estate (7.7%)** |  |  |
|  ***Health Care REITs (0.6%)*** |  |  |
|  Ventas, Inc. (REIT) | 14231 | 996028 |
|  ***Industrial REITs (0.4%)*** |  |  |
|  Americold Realty Trust, Inc. (REIT) | 58203 | 712405 |
|  ***Real Estate Management & Development (0.6%)*** |  |  |
|  CBRE Group, Inc., Class A\* | 6473 | 1019886 |
|  ***Residential REITs (2.7%)*** |  |  |
|  American Homes 4 Rent (REIT), Class A | 48773 | 1621702 |
|  AvalonBay Communities, Inc. (REIT) | 10730 | 2072714 |
|  Camden Property Trust (REIT) | 9034 | 964651 |
|  |  | 4659067 |
|  ***Specialized REITs (3.4%)*** |  |  |
|  Digital Realty Trust, Inc. (REIT) | 11885 | 2054679 |
|  Extra Space Storage, Inc. (REIT) | 11292 | 1591494 |
|  VICI Properties, Inc. (REIT), Class A | 62248 | 2029907 |
|  |  | 5676080 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 13063466 |
|  **Utilities (8.2%)** |  |  |
|  ***Electric Utilities (4.0%)*** |  |  |
|  Entergy Corp. | 17917 | 1669685 |
|  Exelon Corp. | 20254 | 911633 |
|  NRG Energy, Inc. | 4703 | 761651 |
|  PG&E Corp. | 74643 | 1125617 |
|  PPL Corp.(x) | 61534 | 2286603 |
|  |  | 6755189 |
|  ***Multi-Utilities (4.2%)*** |  |  |
|  CMS Energy Corp. | 28539 | 2090767 |
|  NiSource, Inc. | 63936 | 2768429 |
|  Public Service Enterprise Group, Inc. | 27616 | 2304831 |
|  |  | 7164027 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 13919216 |
|  **Total Common Stocks (99.4%)**<br> *(Cost $140,380,577)* |  | 167933562 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.2%**) |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 259757 | 259757 |
|  **Total Short-Term Investments (0.2%)**<br> *(Cost $259,757)* |  | 259757 |
|  **Total Investments in Securities (99.6%)**<br> *(Cost $140,640,334)* |  | 168193319 |
|  **Other Assets Less Liabilities (0.4%)** |  | 726183 |
|  **Net Assets (100%)** |  | $168919502 |

---

*\** *Non-income producing.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $3,796,027. This was collateralized by $3,621,665 of various U.S. Government Treasury Securities, ranging from 0.125% – 5.375%, maturing 7/15/26 – 2/15/55 and by cash of $259,757 which was subsequently invested in investment companies.* 

*Glossary:* 

*REIT — Real Estate Investment Trust* 

See Notes to Portfolio of Investments.

512

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**EQ ADVISORS TRUST** 

EQ/GOLDMAN SACHS MID CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $3392150 | $— | $— | $3392150 |
|  Consumer Discretionary | 14836387 |  |  | 14836387 |
|  Consumer Staples | 8891065 |  |  | 8891065 |
|  Energy | 15190117 |  |  | 15190117 |
|  Financials | 27904295 |  |  | 27904295 |
|  Health Care | 9936775 |  |  | 9936775 |
|  Industrials | 31528135 |  |  | 31528135 |
|  Information Technology | 15769055 |  |  | 15769055 |
|  Materials | 13502901 |  |  | 13502901 |
|  Real Estate | 13063466 |  |  | 13063466 |
|  Utilities | 13919216 |  |  | 13919216 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 259757 |  |  | 259757 |
|  **Total Assets** | $**168193319** | $**—** | $**—** | $**168193319** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**168193319** | $**—** | $**—** | $**168193319** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $31486574 |
|  Aggregate gross unrealized depreciation | (4078765) |
|  Net unrealized appreciation | $27407809 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $140785510 |

---

See Notes to Portfolio of Investments.

513

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**EQ ADVISORS TRUST** 

EQ/GOLDMAN SACHS MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (3.0%)** |  |  |
|  ***Diversified Telecommunication Services (0.2%)*** |  |  |
|  AT&T, Inc. | 30815 | $870216 |
|  Verizon Communications, Inc. | 18170 | 798571 |
|  |  | 1668787 |
|  ***Entertainment (0.5%)*** |  |  |
|  Electronic Arts, Inc. | 970 | 195649 |
|  Live Nation Entertainment, Inc.\* | 680 | 111112 |
|  Netflix, Inc.\* | 1831 | 2195222 |
|  Take-Two Interactive Software, Inc.\* | 747 | 192995 |
|  TKO Group Holdings, Inc., Class A | 297 | 59982 |
|  Walt Disney Co. (The) | 7748 | 887146 |
|  Warner Bros Discovery, Inc.\* | 10669 | 208366 |
|  |  | 3850472 |
|  ***Interactive Media & Services (2.2%)*** |  |  |
|  Alphabet, Inc., Class A | 25068 | 6094031 |
|  Alphabet, Inc., Class C | 20125 | 4901443 |
|  Match Group, Inc. | 1037 | 36627 |
|  Meta Platforms, Inc., Class A | 9347 | 6864250 |
|  |  | 17896351 |
|  ***Media (0.1%)*** |  |  |
|  Charter Communications, Inc., Class A\* | 400 | 110042 |
|  Comcast Corp., Class A | 15871 | 498667 |
|  Fox Corp., Class A | 905 | 57069 |
|  Fox Corp., Class B | 640 | 36666 |
|  Interpublic Group of Cos., Inc. (The) | 1578 | 44042 |
|  News Corp., Class A | 1622 | 49811 |
|  News Corp., Class B | 536 | 18519 |
|  Omnicom Group, Inc. | 835 | 68078 |
|  Paramount Skydance Corp., Class B(x) | 1331 | 25183 |
|  Trade Desk, Inc. (The), Class A\* | 1921 | 94148 |
|  |  | 1002225 |
|  ***Wireless Telecommunication Services (0.0%)†*** |  |  |
|  T-Mobile US, Inc. | 2086 | 499347 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 24917182 |
|  **Consumer Discretionary (3.2%)** |  |  |
|  ***Automobile Components (0.0%)†*** |  |  |
|  Aptiv plc\* | 938 | 80875 |
|  ***Automobiles (0.7%)*** |  |  |
|  Ford Motor Co. | 16846 | 201478 |
|  General Motors Co. | 4103 | 250160 |
|  Tesla, Inc.\* | 12093 | 5377999 |
|  |  | 5829637 |
|  ***Broadline Retail (1.2%)*** |  |  |
|  Amazon.com, Inc.\* | 41824 | 9183296 |
|  eBay, Inc. | 1969 | 179080 |
|  |  | 9362376 |
|  ***Distributors (0.0%)†*** |  |  |
|  Genuine Parts Co. | 599 | 83021 |
|  LKQ Corp. | 1109 | 33869 |
|  Pool Corp. | 142 | 44030 |
|  |  | 160920 |
|  ***Hotels, Restaurants & Leisure (0.6%)*** |  |  |
|  Airbnb, Inc., Class A\* | 1849 | 224506 |
|  Booking Holdings, Inc. | 140 | 755898 |
|  Carnival Corp.\* | 4679 | 135270 |
|  Chipotle Mexican Grill, Inc.\* | 5779 | 226479 |
|  Darden Restaurants, Inc. | 504 | 95941 |
|  Domino's Pizza, Inc. | 135 | 58281 |
|  DoorDash, Inc., Class A\* | 1595 | 433824 |
|  Expedia Group, Inc. | 509 | 108799 |
|  Hilton Worldwide Holdings, Inc. | 1014 | 263072 |
|  Las Vegas Sands Corp. | 1331 | 71594 |
|  Marriott International, Inc., Class A | 971 | 252887 |
|  McDonald's Corp. | 3075 | 934462 |
|  MGM Resorts International\* | 880 | 30501 |
|  Norwegian Cruise Line Holdings Ltd.\* | 1948 | 47979 |
|  Royal Caribbean Cruises Ltd. | 1089 | 352379 |
|  Starbucks Corp. | 4899 | 414455 |
|  Wynn Resorts Ltd. | 364 | 46690 |
|  Yum! Brands, Inc. | 1196 | 181792 |
|  |  | 4634809 |
|  ***Household Durables (0.1%)*** |  |  |
|  DR Horton, Inc. | 1195 | 202517 |
|  Garmin Ltd. | 705 | 173585 |
|  Lennar Corp., Class A | 981 | 123645 |
|  Mohawk Industries, Inc.\* | 225 | 29007 |
|  NVR, Inc.\* | 12 | 96416 |
|  PulteGroup, Inc. | 850 | 112311 |
|  |  | 737481 |
|  ***Leisure Products (0.0%)†*** |  |  |
|  Hasbro, Inc. | 574 | 43538 |
|  ***Specialty Retail (0.5%)*** |  |  |
|  AutoZone, Inc.\* | 72 | 308897 |
|  Best Buy Co., Inc. | 847 | 64050 |
|  CarMax, Inc.\* | 647 | 29031 |
|  Home Depot, Inc. (The) | 4288 | 1737455 |
|  Lowe's Cos., Inc. | 2415 | 606914 |
|  O'Reilly Automotive, Inc.\* | 3657 | 394261 |
|  Ross Stores, Inc. | 1410 | 214870 |
|  TJX Cos., Inc. (The) | 4808 | 694948 |
|  Tractor Supply Co. | 2284 | 129891 |
|  Ulta Beauty, Inc.\* | 194 | 106069 |
|  Williams-Sonoma, Inc. | 530 | 103589 |
|  |  | 4389975 |
|  ***Textiles, Apparel & Luxury Goods (0.1%)*** |  |  |
|  Deckers Outdoor Corp.\* | 639 | 64775 |
|  Lululemon Athletica, Inc.\* | 470 | 83627 |
|  NIKE, Inc., Class B | 5120 | 357018 |
|  Ralph Lauren Corp. | 167 | 52365 |
|  Tapestry, Inc. | 897 | 101558 |
|  |  | 659343 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 25898954 |
|  **Consumer Staples (1.5%)** |  |  |
|  ***Beverages (0.3%)*** |  |  |
|  Brown-Forman Corp., Class B | 759 | 20554 |
|  Coca-Cola Co. (The) | 16692 | 1107013 |
|  Constellation Brands, Inc., Class A | 615 | 82822 |
|  Keurig Dr Pepper, Inc. | 5854 | 149336 |
|  Molson Coors Beverage Co., Class B | 730 | 33033 |
|  Monster Beverage Corp.\* | 3072 | 206776 |
|  PepsiCo, Inc. | 5900 | 828596 |
|  |  | 2428130 |
|  ***Consumer Staples Distribution & Retail (0.5%)*** |  |  |
|  Costco Wholesale Corp. | 1911 | 1768879 |
|  Dollar General Corp. | 948 | 97976 |
|  Dollar Tree, Inc.\* | 836 | 78893 |
|  Kroger Co. (The) | 2621 | 176682 |
|  Sysco Corp. | 2058 | 169456 |
|  Target Corp. | 1958 | 175632 |
|  Walmart, Inc. | 18915 | 1949380 |
|  |  | 4416898 |
|  ***Food Products (0.2%)*** |  |  |
|  Archer-Daniels-Midland Co. | 2071 | 123721 |

---

See Notes to Portfolio of Investments.

514

------

**EQ ADVISORS TRUST** 

EQ/GOLDMAN SACHS MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Bunge Global SA | 604 | $49075 |
|  Campbell's Co. (The)(x) | 848 | 26780 |
|  Conagra Brands, Inc. | 2064 | 37792 |
|  General Mills, Inc. | 2304 | 116168 |
|  Hershey Co. (The) | 638 | 119338 |
|  Hormel Foods Corp. | 1256 | 31073 |
|  J M Smucker Co. (The) | 460 | 49956 |
|  Kellanova | 1159 | 95061 |
|  Kraft Heinz Co. (The) | 3673 | 95645 |
|  Lamb Weston Holdings, Inc. | 601 | 34906 |
|  McCormick & Co., Inc. (Non- Voting) | 1090 | 72932 |
|  Mondelez International, Inc., Class A | 5576 | 348333 |
|  Tyson Foods, Inc., Class A | 1231 | 66843 |
|  |  | 1267623 |
|  ***Household Products (0.3%)*** |  |  |
|  Church & Dwight Co., Inc. | 1050 | 92012 |
|  Clorox Co. (The) | 527 | 64979 |
|  Colgate-Palmolive Co. | 3483 | 278431 |
|  Kimberly-Clark Corp. | 1430 | 177806 |
|  Procter & Gamble Co. (The) | 10094 | 1550943 |
|  |  | 2164171 |
|  ***Personal Care Products (0.0%)†*** |  |  |
|  Estee Lauder Cos., Inc. (The), Class A | 1009 | 88913 |
|  Kenvue, Inc. | 8270 | 134222 |
|  |  | 223135 |
|  ***Tobacco (0.2%)*** |  |  |
|  Altria Group, Inc. | 7240 | 478274 |
|  Philip Morris International, Inc. | 6708 | 1088038 |
|  |  | 1566312 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 12066269 |
|  **Energy (0.9%)** |  |  |
|  ***Energy Equipment & Services (0.1%)*** |  |  |
|  Baker Hughes Co. | 4249 | 207011 |
|  Halliburton Co. | 3674 | 90381 |
|  Schlumberger NV | 6430 | 220999 |
|  |  | 518391 |
|  ***Oil, Gas & Consumable Fuels (0.8%)*** |  |  |
|  APA Corp. | 1542 | 37440 |
|  Chevron Corp. | 8294 | 1287975 |
|  ConocoPhillips | 5382 | 509083 |
|  Coterra Energy, Inc. | 3289 | 77785 |
|  Devon Energy Corp. | 2736 | 95924 |
|  Diamondback Energy, Inc. | 811 | 116054 |
|  EOG Resources, Inc. | 2353 | 263818 |
|  EQT Corp. | 2689 | 146362 |
|  Expand Energy Corp. | 1026 | 109002 |
|  Exxon Mobil Corp. | 18372 | 2071443 |
|  Kinder Morgan, Inc. | 8427 | 238568 |
|  Marathon Petroleum Corp. | 1310 | 252490 |
|  Occidental Petroleum Corp. | 3097 | 146333 |
|  ONEOK, Inc. | 2714 | 198041 |
|  Phillips 66 | 1742 | 236947 |
|  Targa Resources Corp. | 927 | 155310 |
|  Texas Pacific Land Corp. | 83 | 77492 |
|  Valero Energy Corp. | 1339 | 227978 |
|  Williams Cos., Inc. (The) | 5263 | 333411 |
|  |  | 6581456 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 7099847 |
|  **Financials (4.0%)** |  |  |
|  ***Banks (1.1%)*** |  |  |
|  Bank of America Corp. | 29367 | 1515044 |
|  Citigroup, Inc. | 7933 | 805199 |
|  Citizens Financial Group, Inc. | 1859 | 98824 |
|  Fifth Third Bancorp | 2852 | 127057 |
|  Huntington Bancshares, Inc. | 6317 | 109095 |
|  JPMorgan Chase & Co. | 11850 | 3737845 |
|  KeyCorp | 4017 | 75078 |
|  M&T Bank Corp. | 673 | 132998 |
|  PNC Financial Services Group, Inc. (The) | 1697 | 340978 |
|  Regions Financial Corp. | 3845 | 101393 |
|  Truist Financial Corp. | 5557 | 254066 |
|  US Bancorp | 6706 | 324101 |
|  Wells Fargo & Co. | 13805 | 1157135 |
|  |  | 8778813 |
|  ***Capital Markets (0.9%)*** |  |  |
|  Ameriprise Financial, Inc. | 406 | 199448 |
|  Bank of New York Mellon Corp. (The) | 3039 | 331129 |
|  BlackRock, Inc. | 621 | 724005 |
|  Blackstone, Inc. | 3177 | 542791 |
|  Cboe Global Markets, Inc. | 451 | 110608 |
|  Charles Schwab Corp. (The) | 7353 | 701991 |
|  CME Group, Inc. | 1553 | 419605 |
|  Coinbase Global, Inc., Class A\* | 975 | 329053 |
|  FactSet Research Systems, Inc. | 163 | 46698 |
|  Franklin Resources, Inc. | 1320 | 30532 |
|  Interactive Brokers Group, Inc., Class A | 1919 | 132046 |
|  Intercontinental Exchange, Inc. | 2467 | 415640 |
|  Invesco Ltd. | 1922 | 44091 |
|  KKR & Co., Inc. | 2956 | 384132 |
|  Moody's Corp. | 665 | 316859 |
|  Morgan Stanley | 5228 | 831043 |
|  MSCI, Inc. | 333 | 188948 |
|  Nasdaq, Inc. | 1953 | 172743 |
|  Northern Trust Corp. | 824 | 110910 |
|  Raymond James Financial, Inc. | 765 | 132039 |
|  Robinhood Markets, Inc., Class A\* | 3335 | 477505 |
|  S&P Global, Inc. | 1347 | 655598 |
|  State Street Corp. | 1223 | 141880 |
| T. Rowe Price Group, Inc. | 971 | 99663 |
|  |  | 7538957 |
|  ***Consumer Finance (0.2%)*** |  |  |
|  American Express Co. | 2339 | 776922 |
|  Capital One Financial Corp. | 2756 | 585871 |
|  Synchrony Financial | 1603 | 113893 |
|  |  | 1476686 |
|  ***Financial Services (1.2%)*** |  |  |
|  Apollo Global Management, Inc. | 1983 | 264274 |
|  Berkshire Hathaway, Inc., Class B\* | 7902 | 3972652 |
|  Block, Inc., Class A\* | 2368 | 171135 |
|  Corpay, Inc.\* | 304 | 87570 |
|  Fidelity National Information Services, Inc. | 2251 | 148431 |
|  Fiserv, Inc.\* | 2343 | 302083 |
|  Global Payments, Inc. | 1046 | 86902 |
|  Jack Henry & Associates, Inc. | 314 | 46764 |
|  Mastercard, Inc., Class A | 3557 | 2023257 |
|  PayPal Holdings, Inc.\* | 4117 | 276086 |
|  Visa, Inc., Class A | 7320 | 2498902 |
|  |  | 9878056 |
|  ***Insurance (0.6%)*** |  |  |
|  Aflac, Inc. | 2074 | 231666 |
|  Allstate Corp. (The) | 1136 | 243842 |
|  American International Group, Inc. | 2387 | 187475 |
|  Aon plc, Class A | 929 | 331263 |
|  Arch Capital Group Ltd. | 1602 | 145349 |
|  Arthur J Gallagher & Co. | 1105 | 342263 |
|  Assurant, Inc. | 217 | 47002 |

---

See Notes to Portfolio of Investments.

515

------

**EQ ADVISORS TRUST** 

EQ/GOLDMAN SACHS MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Brown & Brown, Inc. | 1263 | $118457 |
|  Chubb Ltd. | 1598 | 451035 |
|  Cincinnati Financial Corp. | 674 | 106559 |
|  Erie Indemnity Co., Class A | 109 | 34679 |
|  Everest Group Ltd. | 181 | 63392 |
|  Globe Life, Inc. | 349 | 49897 |
|  Hartford Insurance Group, Inc. (The) | 1212 | 161669 |
|  Loews Corp. | 733 | 73586 |
|  Marsh & McLennan Cos., Inc. | 2119 | 427042 |
|  MetLife, Inc. | 2407 | 198265 |
|  Principal Financial Group, Inc. | 874 | 72463 |
|  Progressive Corp. (The) | 2526 | 623796 |
|  Prudential Financial, Inc. | 1517 | 157374 |
|  Travelers Cos., Inc. (The) | 970 | 270843 |
|  W.R. Berkley Corp. | 1291 | 98916 |
|  Willis Towers Watson plc | 420 | 145089 |
|  |  | 4581922 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 32254434 |
|  **Health Care (2.7%)** |  |  |
|  ***Biotechnology (0.5%)*** |  |  |
|  AbbVie, Inc. | 7613 | 1762714 |
|  Amgen, Inc. | 2320 | 654704 |
|  Biogen, Inc.\* | 632 | 88531 |
|  Gilead Sciences, Inc. | 5347 | 593517 |
|  Incyte Corp.\* | 707 | 59961 |
|  Moderna, Inc.\* | 1492 | 38538 |
|  Regeneron Pharmaceuticals, Inc. | 439 | 246836 |
|  Vertex Pharmaceuticals, Inc.\* | 1105 | 432762 |
|  |  | 3877563 |
|  ***Health Care Equipment & Supplies (0.6%)*** |  |  |
|  Abbott Laboratories | 7501 | 1004684 |
|  Align Technology, Inc.\* | 291 | 36439 |
|  Baxter International, Inc. | 2213 | 50390 |
|  Becton Dickinson & Co. | 1235 | 231155 |
|  Boston Scientific Corp.\* | 6386 | 623465 |
|  Cooper Cos., Inc. (The)\* | 860 | 58962 |
|  Dexcom, Inc.\* | 1690 | 113720 |
|  Edwards Lifesciences Corp.\* | 2530 | 196758 |
|  GE HealthCare Technologies, Inc. | 1968 | 147797 |
|  Hologic, Inc.\* | 959 | 64723 |
|  IDEXX Laboratories, Inc.\* | 345 | 220417 |
|  Insulet Corp.\* | 303 | 93545 |
|  Intuitive Surgical, Inc.\* | 1545 | 690970 |
|  Medtronic plc | 5522 | 525915 |
|  ResMed, Inc.(x) | 631 | 172724 |
|  Solventum Corp.\* | 635 | 46355 |
|  STERIS plc | 424 | 104914 |
|  Stryker Corp. | 1483 | 548221 |
|  Zimmer Biomet Holdings, Inc. | 854 | 84119 |
|  |  | 5015273 |
|  ***Health Care Providers & Services (0.5%)*** |  |  |
|  Cardinal Health, Inc. | 1029 | 161512 |
|  Cencora, Inc. | 836 | 261275 |
|  Centene Corp.\* | 2011 | 71753 |
|  Cigna Group (The) | 1150 | 331488 |
|  CVS Health Corp. | 5466 | 412082 |
|  DaVita, Inc.\* | 154 | 20462 |
|  Elevance Health, Inc. | 970 | 313426 |
|  HCA Healthcare, Inc. | 706 | 300897 |
|  Henry Schein, Inc.\* | 444 | 29468 |
|  Humana, Inc. | 518 | 134768 |
|  Labcorp Holdings, Inc. | 358 | 102767 |
|  McKesson Corp. | 536 | 414081 |
|  Molina Healthcare, Inc.\* | 234 | 44778 |
|  Quest Diagnostics, Inc. | 482 | 91860 |
|  UnitedHealth Group, Inc. | 3903 | 1347706 |
|  Universal Health Services, Inc., Class B | 243 | 49679 |
|  |  | 4088002 |
|  ***Life Sciences Tools & Services (0.3%)*** |  |  |
|  Agilent Technologies, Inc. | 1224 | 157100 |
|  Bio-Techne Corp. | 676 | 37606 |
|  Charles River Laboratories International, Inc.\* | 212 | 33170 |
|  Danaher Corp. | 2746 | 544422 |
|  IQVIA Holdings, Inc.\* | 733 | 139226 |
|  Mettler-Toledo International, Inc.\* | 89 | 109257 |
|  Revvity, Inc. | 500 | 43825 |
|  Thermo Fisher Scientific, Inc. | 1627 | 789128 |
|  Waters Corp.\* | 257 | 77051 |
|  West Pharmaceutical Services, Inc. | 310 | 81322 |
|  |  | 2012107 |
|  ***Pharmaceuticals (0.8%)*** |  |  |
|  Bristol-Myers Squibb Co. | 8772 | 395617 |
|  Eli Lilly & Co. | 3426 | 2614038 |
|  Johnson & Johnson | 10379 | 1924474 |
|  Merck & Co., Inc. | 10764 | 903423 |
|  Pfizer, Inc. | 24502 | 624311 |
|  Viatris, Inc. | 5024 | 49738 |
|  Zoetis, Inc. | 1910 | 279471 |
|  |  | 6791072 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 21784017 |
|  **Industrials (2.5%)** |  |  |
|  ***Aerospace & Defense (0.7%)*** |  |  |
|  Axon Enterprise, Inc.\* | 338 | 242562 |
|  Boeing Co. (The)\* | 3259 | 703390 |
|  GE Aerospace | 4570 | 1374747 |
|  General Dynamics Corp. | 1088 | 371008 |
|  Howmet Aerospace, Inc. | 1737 | 340852 |
|  Huntington Ingalls Industries, Inc. | 169 | 48657 |
|  L3Harris Technologies, Inc. | 806 | 246161 |
|  Lockheed Martin Corp. | 885 | 441801 |
|  Northrop Grumman Corp. | 580 | 353406 |
|  RTX Corp. | 5768 | 965159 |
|  Textron, Inc. | 768 | 64888 |
|  TransDigm Group, Inc. | 243 | 320279 |
|  |  | 5472910 |
|  ***Air Freight & Logistics (0.1%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 509 | 67392 |
|  Expeditors International of Washington, Inc. | 585 | 71715 |
|  FedEx Corp. | 935 | 220482 |
|  United Parcel Service, Inc., Class B | 3172 | 264957 |
|  |  | 624546 |
|  ***Building Products (0.1%)*** |  |  |
|  A.O. Smith Corp. | 492 | 36118 |
|  Allegion plc | 370 | 65619 |
|  Builders FirstSource, Inc.\* | 476 | 57715 |
|  Carrier Global Corp. | 3447 | 205786 |
|  Johnson Controls International plc | 2820 | 310059 |
|  Lennox International, Inc. | 138 | 73052 |
|  Masco Corp. | 902 | 63492 |
|  Trane Technologies plc | 959 | 404659 |
|  |  | 1216500 |
|  ***Commercial Services & Supplies (0.1%)*** |  |  |
|  Cintas Corp. | 1476 | 302964 |
|  Copart, Inc.\* | 3834 | 172415 |
|  Republic Services, Inc. | 875 | 200795 |
|  Rollins, Inc. | 1211 | 71134 |
|  Veralto Corp. | 1069 | 113966 |
|  Waste Management, Inc. | 1597 | 352666 |
|  |  | 1213940 |

---

See Notes to Portfolio of Investments.

516

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**EQ ADVISORS TRUST** 

EQ/GOLDMAN SACHS MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  ***Construction & Engineering (0.0%)†*** |  |  |
|  EMCOR Group, Inc. | 193 | $125361 |
|  Quanta Services, Inc. | 642 | 266058 |
|  |  | 391419 |
|  ***Electrical Equipment (0.3%)*** |  |  |
|  AMETEK, Inc. | 995 | 187060 |
|  Eaton Corp. plc | 1678 | 627992 |
|  Emerson Electric Co. | 2425 | 318111 |
|  GE Vernova, Inc. | 1173 | 721278 |
|  Generac Holdings, Inc.\* | 253 | 42352 |
|  Hubbell, Inc., Class B | 229 | 98541 |
|  Rockwell Automation, Inc. | 485 | 169522 |
|  |  | 2164856 |
|  ***Ground Transportation (0.3%)*** |  |  |
|  CSX Corp. | 8034 | 285287 |
|  JB Hunt Transport Services, Inc. | 330 | 44276 |
|  Norfolk Southern Corp. | 967 | 290497 |
|  Old Dominion Freight Line, Inc. | 797 | 112202 |
|  Uber Technologies, Inc.\* | 8987 | 880456 |
|  Union Pacific Corp. | 2556 | 604162 |
|  |  | 2216880 |
|  ***Industrial Conglomerates (0.1%)*** |  |  |
|  3M Co. | 2295 | 356138 |
|  Honeywell International, Inc. | 2736 | 575928 |
|  |  | 932066 |
|  ***Machinery (0.5%)*** |  |  |
|  Caterpillar, Inc. | 2019 | 963366 |
|  Cummins, Inc. | 594 | 250888 |
|  Deere & Co. | 1085 | 496127 |
|  Dover Corp. | 591 | 98597 |
|  Fortive Corp. | 1458 | 71427 |
|  IDEX Corp. | 324 | 52734 |
|  Illinois Tool Works, Inc. | 1143 | 298049 |
|  Ingersoll Rand, Inc. | 1559 | 128805 |
|  Nordson Corp. | 231 | 52425 |
|  Otis Worldwide Corp. | 1691 | 154608 |
|  PACCAR, Inc. | 2263 | 222498 |
|  Parker-Hannifin Corp. | 551 | 417741 |
|  Pentair plc | 706 | 78197 |
|  Snap-on, Inc. | 225 | 77969 |
|  Stanley Black & Decker, Inc. | 667 | 49578 |
|  Westinghouse Air Brake Technologies Corp. | 737 | 147746 |
|  Xylem, Inc. | 1049 | 154727 |
|  |  | 3715482 |
|  ***Passenger Airlines (0.0%)†*** |  |  |
|  Delta Air Lines, Inc. | 2795 | 158616 |
|  Southwest Airlines Co. | 2263 | 72212 |
|  United Airlines Holdings, Inc.\* | 1395 | 134618 |
|  |  | 365446 |
|  ***Professional Services (0.2%)*** |  |  |
|  Automatic Data Processing, Inc. | 1746 | 512451 |
|  Broadridge Financial Solutions, Inc. | 505 | 120276 |
|  Dayforce, Inc.\* | 688 | 47396 |
|  Equifax, Inc. | 534 | 136987 |
|  Jacobs Solutions, Inc. | 515 | 77178 |
|  Leidos Holdings, Inc. | 553 | 104495 |
|  Paychex, Inc. | 1397 | 177084 |
|  Paycom Software, Inc. | 216 | 44958 |
|  Verisk Analytics, Inc. | 602 | 151409 |
|  |  | 1372234 |
|  ***Trading Companies & Distributors (0.1%)*** |  |  |
|  Fastenal Co. | 4946 | 242552 |
|  United Rentals, Inc. | 277 | 264441 |
|  W.W. Grainger, Inc. | 190 | 181062 |
|  |  | 688055 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 20374334 |
|  **Information Technology (10.5%)** |  |  |
|  ***Communications Equipment (0.3%)*** |  |  |
|  Arista Networks, Inc.\* | 4442 | 647244 |
|  Cisco Systems, Inc. | 17066 | 1167656 |
|  F5, Inc.\* | 248 | 80151 |
|  Motorola Solutions, Inc. | 718 | 328334 |
|  |  | 2223385 |
|  ***Electronic Equipment, Instruments & Components (0.2%)*** |  |  |
|  Amphenol Corp., Class A | 5262 | 651172 |
|  CDW Corp. | 565 | 89993 |
|  Corning, Inc. | 3359 | 275539 |
|  Jabil, Inc. | 462 | 100332 |
|  Keysight Technologies, Inc.\* | 742 | 129791 |
|  TE Connectivity plc | 1273 | 279462 |
|  Teledyne Technologies, Inc.\* | 202 | 118380 |
|  Trimble, Inc.\* | 1026 | 83773 |
|  Zebra Technologies Corp., Class A\* | 219 | 65078 |
|  |  | 1793520 |
|  ***IT Services (0.3%)*** |  |  |
|  Accenture plc, Class A | 2684 | 661874 |
|  Akamai Technologies, Inc.\* | 618 | 46820 |
|  Cognizant Technology Solutions Corp., Class A | 2105 | 141182 |
|  EPAM Systems, Inc.\* | 240 | 36190 |
|  Gartner, Inc.\* | 326 | 85696 |
|  GoDaddy, Inc., Class A\* | 597 | 81688 |
|  International Business Machines Corp. | 4014 | 1132590 |
|  VeriSign, Inc. | 362 | 101204 |
|  |  | 2287244 |
|  ***Semiconductors & Semiconductor Equipment (4.2%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 6994 | 1131559 |
|  Analog Devices, Inc. | 2139 | 525552 |
|  Applied Materials, Inc. | 3458 | 707991 |
|  Broadcom, Inc. | 20270 | 6687276 |
|  First Solar, Inc.\* | 462 | 101885 |
|  Intel Corp.\* | 18863 | 632854 |
|  KLA Corp. | 569 | 613723 |
|  Lam Research Corp. | 5454 | 730291 |
|  Microchip Technology, Inc. | 2326 | 149376 |
|  Micron Technology, Inc. | 4823 | 806984 |
|  Monolithic Power Systems, Inc. | 206 | 189652 |
|  NVIDIA Corp. | 105152 | 19619260 |
|  NXP Semiconductors NV | 1086 | 247315 |
|  ON Semiconductor Corp.\* | 1762 | 86884 |
|  QUALCOMM, Inc. | 4648 | 773241 |
|  Skyworks Solutions, Inc. | 640 | 49267 |
|  Teradyne, Inc. | 686 | 94421 |
|  Texas Instruments, Inc. | 3918 | 719854 |
|  |  | 33867385 |
|  ***Software (3.4%)*** |  |  |
|  Adobe, Inc.\* | 1828 | 644827 |
|  AppLovin Corp., Class A\* | 1167 | 838536 |
|  Autodesk, Inc.\* | 922 | 292892 |
|  Cadence Design Systems, Inc.\* | 1174 | 412379 |
|  Crowdstrike Holdings, Inc., Class A\* | 1074 | 526668 |
|  Datadog, Inc., Class A\* | 1393 | 198363 |
|  Fair Isaac Corp.\* | 103 | 154143 |
|  Fortinet, Inc.\* | 2807 | 236013 |
|  Gen Digital, Inc. | 2415 | 68562 |
|  Intuit, Inc. | 1202 | 820858 |
|  Microsoft Corp. | 32033 | 16591492 |
|  Oracle Corp. | 7142 | 2008616 |

---

See Notes to Portfolio of Investments.

517

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**EQ ADVISORS TRUST** 

EQ/GOLDMAN SACHS MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Palantir Technologies, Inc., Class A\* | 9801 | $1787898 |
|  Palo Alto Networks, Inc.\* | 2878 | 586018 |
|  PTC, Inc.\* | 516 | 104758 |
|  Roper Technologies, Inc. | 464 | 231392 |
|  Salesforce, Inc. | 4120 | 976440 |
|  ServiceNow, Inc.\* | 896 | 824571 |
|  Synopsys, Inc.\* | 797 | 393232 |
|  Tyler Technologies, Inc.\* | 186 | 97308 |
|  Workday, Inc., Class A\* | 931 | 224120 |
|  |  | 28019086 |
|  ***Technology Hardware, Storage & Peripherals (2.1%)*** |  |  |
|  Apple, Inc. | 63955 | 16284862 |
|  Dell Technologies, Inc., Class C | 1307 | 185293 |
|  Hewlett Packard Enterprise Co. | 5655 | 138887 |
|  HP, Inc. | 4048 | 110227 |
|  NetApp, Inc. | 862 | 102113 |
|  Seagate Technology Holdings plc | 917 | 216467 |
|  Super Micro Computer, Inc.\* | 2160 | 103550 |
|  Western Digital Corp. | 1495 | 179490 |
|  |  | 17320889 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 85511509 |
|  **Materials (0.5%)** |  |  |
|  ***Chemicals (0.3%)*** |  |  |
|  Air Products and Chemicals, Inc. | 959 | 261538 |
|  Albemarle Corp.(x) | 507 | 41108 |
|  CF Industries Holdings, Inc. | 698 | 62611 |
|  Corteva, Inc. | 2927 | 197953 |
|  Dow, Inc. | 3055 | 70051 |
|  DuPont de Nemours, Inc. | 1804 | 140532 |
|  Eastman Chemical Co. | 495 | 31210 |
|  Ecolab, Inc. | 1100 | 301246 |
|  International Flavors & Fragrances, Inc. | 1104 | 67940 |
|  Linde plc | 2021 | 959975 |
|  LyondellBasell Industries NV, Class A | 1109 | 54385 |
|  Mosaic Co. (The) | 1368 | 47442 |
|  PPG Industries, Inc. | 973 | 102272 |
|  Sherwin-Williams Co. (The) | 999 | 345914 |
|  |  | 2684177 |
|  ***Construction Materials (0.0%)†*** |  |  |
|  Martin Marietta Materials, Inc. | 260 | 163873 |
|  Vulcan Materials Co. | 569 | 175035 |
|  |  | 338908 |
|  ***Containers & Packaging (0.1%)*** |  |  |
|  Amcor plc | 9935 | 81268 |
|  Avery Dennison Corp. | 336 | 54489 |
|  Ball Corp. | 1173 | 59143 |
|  International Paper Co. | 2275 | 105560 |
|  Packaging Corp. of America | 385 | 83903 |
|  Smurfit WestRock plc | 2250 | 95783 |
|  |  | 480146 |
|  ***Metals & Mining (0.1%)*** |  |  |
|  Freeport-McMoRan, Inc. | 6187 | 242654 |
|  Newmont Corp. | 4734 | 399124 |
|  Nucor Corp. | 989 | 133940 |
|  Steel Dynamics, Inc. | 596 | 83100 |
|  |  | 858818 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 4362049 |
|  **Real Estate (0.6%)** |  |  |
|  ***Health Care REITs (0.1%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) | 671 | 55921 |
|  Healthpeak Properties, Inc. (REIT) | 2995 | 57354 |
|  Ventas, Inc. (REIT) | 1959 | 137110 |
|  Welltower, Inc. (REIT) | 2882 | 513400 |
|  |  | 763785 |
|  ***Hotel & Resort REITs (0.0%)†*** |  |  |
|  Host Hotels & Resorts, Inc. (REIT) | 2756 | 46907 |
|  ***Industrial REITs (0.1%)*** |  |  |
|  Prologis, Inc. (REIT) | 3999 | 457966 |
|  ***Office REITs (0.0%)†*** |  |  |
|  BXP, Inc. (REIT) | 635 | 47206 |
|  ***Real Estate Management & Development (0.0%)†*** |  |  |
|  CBRE Group, Inc., Class A\* | 1263 | 198998 |
|  CoStar Group, Inc.\* | 1826 | 154060 |
|  |  | 353058 |
|  ***Residential REITs (0.1%)*** |  |  |
|  AvalonBay Communities, Inc. (REIT) | 613 | 118413 |
|  Camden Property Trust (REIT) | 460 | 49119 |
|  Equity Residential (REIT) | 1498 | 96965 |
|  Essex Property Trust, Inc. (REIT) | 278 | 74409 |
|  Invitation Homes, Inc. (REIT) | 2430 | 71272 |
|  Mid-America Apartment Communities, Inc. (REIT) | 505 | 70564 |
|  UDR, Inc. (REIT) | 1299 | 48401 |
|  |  | 529143 |
|  ***Retail REITs (0.1%)*** |  |  |
|  Federal Realty Investment Trust (REIT) | 338 | 34243 |
|  Kimco Realty Corp. (REIT) | 2918 | 63758 |
|  Realty Income Corp. (REIT) | 3940 | 239513 |
|  Regency Centers Corp. (REIT) | 704 | 51321 |
|  Simon Property Group, Inc. (REIT) | 1407 | 264052 |
|  |  | 652887 |
|  ***Specialized REITs (0.2%)*** |  |  |
|  American Tower Corp. (REIT) | 2018 | 388102 |
|  Crown Castle, Inc. (REIT) | 1877 | 181112 |
|  Digital Realty Trust, Inc. (REIT) | 1382 | 238920 |
|  Equinix, Inc. (REIT) | 422 | 330527 |
|  Extra Space Storage, Inc. (REIT) | 915 | 128960 |
|  Iron Mountain, Inc. (REIT) | 1273 | 129770 |
|  Public Storage (REIT) | 681 | 196707 |
|  SBA Communications Corp. (REIT) | 463 | 89521 |
|  VICI Properties, Inc. (REIT), Class A | 4596 | 149875 |
|  Weyerhaeuser Co. (REIT) | 3109 | 77072 |
|  |  | 1910566 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 4761518 |
|  **Utilities (0.7%)** |  |  |
|  ***Electric Utilities (0.5%)*** |  |  |
|  Alliant Energy Corp. | 1107 | 74623 |
|  American Electric Power Co., Inc. | 2305 | 259312 |
|  Constellation Energy Corp. | 1346 | 442928 |
|  Duke Energy Corp. | 3351 | 414686 |
|  Edison International | 1658 | 91654 |
|  Entergy Corp. | 1924 | 179298 |
|  Evergy, Inc. | 992 | 75412 |
|  Eversource Energy | 1599 | 113753 |
|  Exelon Corp. | 4353 | 195928 |
|  FirstEnergy Corp. | 2239 | 102591 |
|  NextEra Energy, Inc. | 8875 | 669974 |
|  NRG Energy, Inc. | 834 | 135066 |
|  PG&E Corp. | 9472 | 142838 |
|  Pinnacle West Capital Corp. | 515 | 46175 |
|  PPL Corp. | 3187 | 118429 |
|  Southern Co. (The) | 4741 | 449305 |

---

See Notes to Portfolio of Investments.

518

------

**EQ ADVISORS TRUST** 

EQ/GOLDMAN SACHS MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Xcel Energy, Inc. | 2549 | $205577 |
|  |  | 3717549 |
|  ***Gas Utilities (0.0%)†*** |  |  |
|  Atmos Energy Corp. | 692 | 118159 |
|  ***Independent Power and Renewable Electricity Producers (0.0%)†*** |  |  |
|  AES Corp. (The) | 3069 | 40388 |
|  Vistra Corp. | 1373 | 268998 |
|  |  | 309386 |
|  ***Multi-Utilities (0.2%)*** |  |  |
|  Ameren Corp. | 1165 | 121603 |
|  CenterPoint Energy, Inc. | 2814 | 109183 |
|  CMS Energy Corp. | 1290 | 94505 |
|  Consolidated Edison, Inc. | 1554 | 156208 |
|  Dominion Energy, Inc. | 3678 | 224983 |
|  DTE Energy Co. | 895 | 126580 |
|  NiSource, Inc. | 2029 | 87856 |
|  Public Service Enterprise Group, Inc. | 2151 | 179523 |
|  Sempra | 2812 | 253024 |
|  WEC Energy Group, Inc. | 1387 | 158936 |
|  |  | 1512401 |
|  ***Water Utilities (0.0%)†*** |  |  |
|  American Water Works Co., Inc. | 841 | 117059 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 5774554 |
|  **Total Common Stocks (30.1%)**<br> *(Cost $103,274,493)* |  | 244804667 |
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **U.S. Treasury Obligations (41.6%)** |  |  |
|  U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/33 | $327780000 | 338867716 |
|  **Total Long-Term Debt Securities (41.6%)**<br> *(Cost $338,343,146)* |  | 338867716 |
|  | **Number of<br>Rights** | **Value<br>(Note 1)** |
|  RIGHTS: |  |  |
|  **Consumer Staples (0.0%)†** |  |  |
|  ***Consumer Staples Distribution & Retail (0.0%)†*** |  |  |
|  Walgreens Boots Alliance, Inc., CVR(r)\* | 3179 | 1264 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 1264 |
|  **Health Care (0.0%)†** |  |  |
|  ***Health Care Equipment & Supplies (0.0%)†*** |  |  |
|  ABIOMED, Inc., CVR\* | 274 | 438 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 438 |
|  **Total Rights (0.0%)†<br>(***Cost $1,543***)** |  | 1702 |
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (23.5%)** |  |  |
|  Goldman Sachs Financial Square Funds - Government Fund 4.03% (7 day yield) ‡ | 38392764 | 38392764 |
|  Goldman Sachs Financial Square Funds - Treasury Obligations Fund 3.99% (7 day yield) ‡ | 37610038 | 37610038 |
|  Goldman Sachs Financial Square Funds - Treasury Solutions Fund 3.95% (7 day yield) ‡ | 37217475 | 37217475 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 52451 | 52451 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 77797033 | 77828151 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 191100879 |
|  **Total Short-Term Investments (23.5%)**<br> *(Cost $191,078,214)* |  | 191100879 |
|  **Total Investments in Securities (95.2%)**<br> *(Cost $632,697,396)* |  | 774774964 |
|  **Other Assets Less Liabilities (4.8%)** |  | 38715959 |
|  **Net Assets (100%)** |  | $813490923 |

---

*\** *Non-income producing.* 

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

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

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $223,683. This was collateralized by $181,670 of various U.S. Government Treasury Securities, ranging from 0.125% – 5.375%, maturing 7/15/26 – 2/15/55 and by cash of $52,451 which was subsequently invested in investment companies.* 

*Glossary:* 

*CVR — Contingent Value Right* 

*EUR — European Currency Unit* 

*GBP — British Pound* 

*JPY — Japanese Yen* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

519

------

**EQ ADVISORS TRUST** 

EQ/GOLDMAN SACHS MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds<br>from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/<br>Interest<br>Income ($)** | **Capital Gain**<br>**Distributions<br>($)** |
|  SHORT-TERM INVESTMENTS: |  |  |  |  |  |  |  |  |  |
|  **Investment Companies** |  |  |  |  |  |  |  |  |  |
|  Goldman Sachs Financial Square Funds - Government Fund 4.03% (7 day yield) | 38392764 | 39579751 | 3977366 | (5164353) |  |  | 38392764 | 1161343 |  |
|  Goldman Sachs Financial Square Funds - Treasury Obligations Fund 3.99% (7 day yield) | 37610038 | 38772801 | 3896194 | (5058957) |  |  | 37610038 | 1130539 |  |
|  Goldman Sachs Financial Square Funds - Treasury Solutions Fund 3.95% (7 day yield) | 37217475 | 38368126 | 3855608 | (5006259) |  |  | 37217475 | 1195401 |  |
|  **Total** |  | **116720678** | **11729168** | **(15229569)** |  |  | **113220277** | **3487283** |  |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional**<br>**Amount ($)** | **Value and<br>Unrealized<br>Appreciation**<br>**(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  EURO Stoxx 50 Index | 940 | 12/2025 | EUR | 61150864 | 1811443 |
|  FTSE 100 Index | 318 | 12/2025 | GBP | 40233827 | 653582 |
|  Russell 2000 E-Mini Index | 335 | 12/2025 | USD | 41129625 | 660341 |
|  S&P Midcap 400 E-Mini Index | 186 | 12/2025 | USD | 61123320 | (424322) |
|  TOPIX Index | 200 | 12/2025 | JPY | 42478953 | 536805 |
|  |  |  |  |  | 3237849 |

---

See Notes to Portfolio of Investments.

520

------

**EQ ADVISORS TRUST** 

EQ/GOLDMAN SACHS MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $24917182 | $— | $— | $24917182 |
|  Consumer Discretionary | 25898954 |  |  | 25898954 |
|  Consumer Staples | 12066269 |  |  | 12066269 |
|  Energy | 7099847 |  |  | 7099847 |
|  Financials | 32254434 |  |  | 32254434 |
|  Health Care | 21784017 |  |  | 21784017 |
|  Industrials | 20374334 |  |  | 20374334 |
|  Information Technology | 85511509 |  |  | 85511509 |
|  Materials | 4362049 |  |  | 4362049 |
|  Real Estate | 4761518 |  |  | 4761518 |
|  Utilities | 5774554 |  |  | 5774554 |
|  **Futures** | 3662171 |  |  | 3662171 |
|  **Rights** |  |  |  |  |
|  Consumer Staples |  |  | 1264 | 1264 |
|  Health Care |  | 438 |  | 438 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 191100879 |  |  | 191100879 |
|  **U.S. Treasury Obligations** |  | 338867716 |  | 338867716 |
|  **Total Assets** | $**439567717** | $**338868154** | $**1264** | $**778437135** |
|  **Liabilities:** |  |  |  |  |
|  **Futures** | $(424322) | $— | $— | $(424322) |
|  **Total Liabilities** | $**(424322)** | $**—** | $**—** | $**(424322)** |
|  **Total** | $**439143395** | $**338868154** | $**1264** | $**778012813** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $152075942 |
|  Aggregate gross unrealized depreciation | (6760525) |
|  Net unrealized appreciation | $145315417 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $632697396 |

---

See Notes to Portfolio of Investments.

521

------

**EQ ADVISORS TRUST** 

EQ/INTERMEDIATE CORPORATE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Corporate Bonds (97.3%)** |  |  |
|  **Communication Services (4.8%)** |  |  |
|  ***Diversified Telecommunication Services (1.6%)*** |  |  |
|  AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 6/1/31 | $160000 | $146728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 2/1/32 | 2783000 | 2434685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 12/1/33 | 10340000 | 8782038 |
|  Orange SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 3/1/31(e) | 370000 | 449611 |
|  Sprint Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 3/15/32 | 720000 | 876361 |
|  TELUS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 5/13/32 | 2287000 | 2105279 |
|  Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 1/20/31 | 1061000 | 927833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 3/21/31 | 5085000 | 4620230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 5/9/33 | 980000 | 1003820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/10/33 | 2610000 | 2566473 |
|  |  | 23913058 |
|  ***Entertainment (0.0%)†*** |  |  |
|  Electronic Arts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.850%, 2/15/31(x) | 380000 | 334412 |
|  ***Interactive Media & Services (0.1%)*** |  |  |
|  Baidu, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 10/9/30 | 200000 | 183904 |
|  Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 8/15/32 | 370000 | 360218 |
|  |  | 544122 |
|  ***Media (2.6%)*** |  |  |
|  Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 4/1/33 | 80000 | 75698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.650%, 2/1/34 | 5870000 | 6276732 |
|  Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 2/15/31(x) | 5440000 | 4697121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 5/15/33 | 4670000 | 4714452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 8/15/34 | 2430000 | 2322838 |
|  Fox Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/13/33 | 3960000 | 4361368 |
|  Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 1/15/31 | 6110000 | 6029693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5/15/33 | 1080000 | 1067636 |
|  Time Warner Cable Enterprises LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 7/15/33 | 7380000 | 8637478 |
|  |  | 38183016 |
|  ***Wireless Telecommunication Services (0.5%)*** |  |  |
|  Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 2/15/34 | 4200000 | 4261954 |
|  T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 2/15/31 | 22000 | 19982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 11/15/31 | 1558000 | 1371120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 3/15/32 | 163000 | 146212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 7/15/33 | 1880000 | 1920254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 4/15/34 | 80000 | 81772 |
|  |  | 7801294 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 70775902 |
|  **Consumer Discretionary (3.6%)** |  |  |
|  ***Automobile Components (0.4%)*** |  |  |
|  Aptiv Swiss Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 3/1/32(x) | 1978000 | 1818996 |
|  Magna International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/21/33 | 630000 | 653646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 6/1/35 | 3810000 | 4009286 |
|  |  | 6481928 |
|  ***Automobiles (0.7%)*** |  |  |
|  Ford Motor Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 2/12/32 | 1610000 | 1404966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 8/19/32(x) | 780000 | 798845 |
|  General Motors Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 10/15/32(x) | 520000 | 539126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/1/35 | 8180000 | 7953512 |
|  Mercedes-Benz Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 1/18/31 | 250000 | 297548 |
|  |  | 10993997 |
|  ***Broadline Retail (0.1%)*** |  |  |
|  Alibaba Group Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/9/31(x) | 600000 | 540396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/28/34 | 400000 | 396532 |
|  |  | 936928 |
|  ***Distributors (0.0%)†*** |  |  |
|  LKQ Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 6/15/33(x) | 300000 | 319221 |
|  ***Hotels, Restaurants & Leisure (0.8%)*** |  |  |
|  Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 5/15/34 | 4100000 | 4205359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series GG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/15/32 | 2830000 | 2617832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series HH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 4/15/31 | 1120000 | 1030274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 10/15/33 | 820000 | 709162 |
|  Starbucks Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/14/32 | 3080000 | 2833589 |
|  |  | 11396216 |
|  ***Household Durables (0.2%)*** |  |  |
|  PulteGroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 6/15/32 | 90000 | 105946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/15/35 | 2630000 | 2817386 |
|  |  | 2923332 |
|  ***Specialty Retail (1.4%)*** |  |  |
|  AutoZone, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 8/1/32 | 410000 | 413085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 8/1/33 | 2150000 | 2207397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.550%, 11/1/33 | 5410000 | 6034894 |
|  Dick's Sporting Goods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 1/15/32 | 5030000 | 4602812 |
|  Home Depot, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/15/32 | 4700000 | 4772983 |
|  Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 4/1/31 | 1440000 | 1315012 |
|  Tractor Supply Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 5/15/33 | 840000 | 865024 |
|  |  | 20211207 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 53262829 |

---

See Notes to Portfolio of Investments.

522

------

**EQ ADVISORS TRUST** 

EQ/INTERMEDIATE CORPORATE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  **Consumer Staples (5.2%)** |  |  |
|  ***Beverages (0.0%)†*** |  |  |
|  PepsiCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 2/15/33 | $130000 | $131054 |
|  ***Consumer Staples Distribution & Retail (0.5%)*** |  |  |
|  Dollar General Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 7/5/33 | 6840000 | 7088652 |
|  Dollar Tree, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 12/1/31 | 700000 | 623922 |
|  |  | 7712574 |
|  ***Food Products (1.6%)*** |  |  |
|  Archer-Daniels-Midland Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/15/33 | 5630000 | 5601709 |
|  Hershey Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 2/24/35 | 4030000 | 4146928 |
|  Kraft Heinz Foods Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/15/35 | 3810000 | 3774811 |
|  Pilgrim's Pride Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 4/15/31 | 570000 | 550808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/1/32 | 1210000 | 1106291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7/1/33 | 380000 | 405806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 5/15/34 | 3790000 | 4179081 |
|  Unilever Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 8/12/34 | 4200000 | 4222236 |
|  |  | 23987670 |
|  ***Household Products (0.2%)*** |  |  |
|  Procter & Gamble Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 1/29/34 | 2589000 | 2629424 |
|  ***Personal Care Products (0.3%)*** |  |  |
|  Estee Lauder Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 5/15/33 | 4230000 | 4233559 |
|  Haleon US Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 3/24/32 | 500000 | 473970 |
|  |  | 4707529 |
|  ***Tobacco (2.6%)*** |  |  |
|  Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 2/4/32 | 12250000 | 10788452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/1/33 | 4090000 | 4617128 |
|  BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.421%, 8/2/33 | 280000 | 307154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/20/34 | 8241000 | 8788612 |
|  Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 11/1/30(x) | 530000 | 468644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/17/32 | 4210000 | 4483503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 2/15/33 | 2770000 | 2887844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 9/7/33 | 870000 | 921071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/13/34 | 4230000 | 4363575 |
|  |  | 37625983 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 76794234 |
|  **Energy (8.4%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (8.4%)*** |  |  |
|  APA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 2/15/35(x) | 8110000 | 8295056 |
|  Boardwalk Pipelines LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 9/1/32 | 840000 | 777945 |
|  BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.812%, 2/13/33 | 4440000 | 4489202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.893%, 9/11/33 | 1930000 | 1957977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.989%, 4/10/34 | 4200000 | 4273405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.227%, 11/17/34 | 12530000 | 12938151 |
|  Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 6/30/33 | 9230000 | 9747588 |
|  Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 9/15/34(x) | 4390000 | 4360428 |
|  Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 3/8/33 | 132000 | 138694 |
|  Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.550%, 12/1/33 | 4220000 | 4612678 |
|  EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 2/1/34 | 3740000 | 3908902 |
|  Expand Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/1/32 | 4210000 | 4136950 |
|  Hess Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 3/15/33 | 70000 | 81258 |
|  HF Sinclair Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 1/15/35 | 7780000 | 8114405 |
|  Kinder Morgan Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.300%, 8/15/33 | 2234000 | 2552951 |
|  Kinder Morgan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/15/31 | 2580000 | 2279704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 2/1/34 | 2506000 | 2579328 |
|  ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 1/15/31 | 680000 | 730127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 11/15/32 | 2780000 | 2973334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 9/1/33 | 1060000 | 1122154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/15/35 | 3790000 | 3983385 |
|  Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7/15/33 | 1670000 | 1755373 |
|  Shell Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 5/11/35(x) | 8330000 | 7990047 |
|  South Bow USA Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.584%, 10/1/34 | 4080000 | 4100085 |
|  Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 2/1/33 | 550000 | 521741 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/15/35 | 4070000 | 4138238 |
|  Targa Resources Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 2/1/31 | 14940000 | 14973182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/15/32 | 2240000 | 2123042 |
|  TotalEnergies Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 4/5/34 | 4200000 | 4346955 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 124002285 |
|  **Financials (33.0%)** |  |  |
|  ***Banks (14.5%)*** |  |  |
|  Banco Bilbao Vizcaya Argentaria SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.30%), 7.883%, 11/15/34(k) | 7600000 | 8818336 |
|  Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.749%, 12/3/30 | 3000000 | 2721007 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.60%), 3.225%, 11/22/32(k) | 4800000 | 4369663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.921%, 8/8/33 | 2400000 | 2669545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.938%, 11/7/33 | 2000000 | 2289192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 3/14/34 | 4000000 | 4289961 |

---

See Notes to Portfolio of Investments.

523

------

**EQ ADVISORS TRUST** 

EQ/INTERMEDIATE CORPORATE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.15%), 2.592%, 4/29/31(k) | $200000 | $185466 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.53%), 1.898%, 7/23/31(k) | 580000 | 517236 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.32%), 2.687%, 4/22/32(k) | 930000 | 844902 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.21%), 2.572%, 10/20/32(k) | 8231000 | 7374771 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.33%), 2.972%, 2/4/33(k) | 130000 | 118066 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.83%), 4.571%, 4/27/33(k) | 7170000 | 7151463 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.16%), 5.015%, 7/22/33(k) | 4750000 | 4850980 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.91%), 5.425%, 8/15/35(k) | 3860000 | 3933562 |
|  Bank of Nova Scotia (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 8/1/31 | 910000 | 805494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 2/2/32(x) | 786000 | 697242 |
|  Barclays plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.00%), 5.746%, 8/9/33(k) | 4400000 | 4620502 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.57%), 7.119%, 6/27/34(k) | 4000000 | 4471898 |
|  Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 4/7/32 | 151000 | 142938 |
|  Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.91%), 4.412%, 3/31/31(k) | 550000 | 549707 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.11%), 2.572%, 6/3/31(k) | 920000 | 846810 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.17%), 2.561%, 5/1/32(k) | 3010000 | 2709545 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.18%), 2.520%, 11/3/32(k) | 4630000 | 4107677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 2/22/33 | 2770000 | 2948697 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.09%), 4.910%, 5/24/33(k) | 5560000 | 5617766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/31/33 | 4060000 | 4346994 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.34%), 6.270%, 11/17/33(k) | 3390000 | 3692986 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.66%), 6.174%, 5/25/34(k) | 4130000 | 4385261 |
|  HSBC Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.39%), 2.848%, 6/4/31(k) | 1400000 | 1302277 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.95%), 2.357%, 8/18/31(k) | 1200000 | 1086440 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.41%), 2.871%, 11/22/32(k) | 6001000 | 5403212 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.53%), 4.762%, 3/29/33(k) | 1200000 | 1191801 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 4.25%), 8.113%, 11/3/33(k) | 2600000 | 3037202 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.02%), 7.399%, 11/13/34(k) | 200000 | 227316 |
|  ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.07%), 4.252%, 3/28/33(k) | 4400000 | 4301373 |
|  JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.04%), 2.522%, 4/22/31(k) | 1610000 | 1492659 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.11%), 1.764%, 11/19/31(k) | 1480000 | 1305506 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.18%), 2.545%, 11/8/32(k) | 700000 | 626305 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), 2.963%, 1/25/33(k) | 240000 | 219340 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.80%), 4.586%, 4/26/33(k) | 5770000 | 5769653 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.08%), 4.912%, 7/25/33(k) | 940000 | 955855 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.58%), 5.717%, 9/14/33(k) | 3320000 | 3511655 |
|  KeyBank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/26/33 | 19500000 | 19608073 |
|  KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 2.06%), 4.789%, 6/1/33(k) | 550000 | 547887 |
|  Lloyds Banking Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.75%), 7.953%, 11/15/33(k) | 2000000 | 2328858 |
|  M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.85%), 5.053%, 1/27/34(k) | 4400000 | 4404364 |
|  Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.564%, 9/13/31 | 5800000 | 5130007 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.87%), 2.172%, 5/22/32(k) | 5260000 | 4635952 |
|  PNC Financial Services Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.85%), 4.626%, 6/6/33(k) | 280000 | 276510 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 2.14%), 6.037%, 10/28/33(k) | 4540000 | 4888509 |
|  Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.03%), 5.153%, 2/4/31(k) | 460000 | 473799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 11/3/31(x) | 1106000 | 989134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 2/1/34(x) | 5600000 | 5818282 |
|  Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.28%), 7.660%, 11/9/31(k) | 1100000 | 1231500 |
|  Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.710%, 1/12/31 | 1200000 | 1046746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.222%, 9/17/31 | 3200000 | 2820672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.632%, 1/15/35(x) | 4000000 | 4249794 |
|  Synovus Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.35%), 6.168%, 11/1/30(k) | 840000 | 871444 |
|  Toronto-Dominion Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 9/10/31 | 1311000 | 1161859 |

---

See Notes to Portfolio of Investments.

524

------

**EQ ADVISORS TRUST** 

EQ/INTERMEDIATE CORPORATE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 1/12/32(x) | $1696000 | $1506570 |
|  Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.24%), 4.916%, 7/28/33(k) | 540000 | 537252 |
|  US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.02%), 2.677%, 1/27/33(k) | 2970000 | 2655758 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.11%), 4.967%, 7/22/33(k) | 3820000 | 3831039 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.09%), 5.850%, 10/21/33(k) | 1480000 | 1573262 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.86%), 5.678%, 1/23/35(k) | 3770000 | 3976368 |
|  Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.26%), 2.572%, 2/11/31(k) | 870000 | 808729 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.10%), 4.897%, 7/25/33(k) | 7270000 | 7389003 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.02%), 5.389%, 4/24/34(k) | 4840000 | 5012622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 2/7/35 | 3990000 | 4210717 |
|  Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 6/3/31 | 2290000 | 2056255 |
|  |  | 214549226 |
|  ***Capital Markets (8.4%)*** |  |  |
|  Apollo Debt Solutions BDC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 7/29/31 | 620000 | 657193 |
|  Ares Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 11/15/31 | 5090000 | 4556884 |
|  Bank of New York Mellon Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 7/28/31 | 9120000 | 7981623 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 1/26/32 | 760000 | 681529 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), 4.289%, 6/13/33(k) | 40000 | 39343 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), 5.188%, 3/14/35(k) | 11430000 | 11753447 |
|  BlackRock Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/14/34 | 4256000 | 4384241 |
|  Blackstone Reg Finance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/6/34 | 4250000 | 4287701 |
|  Blue Owl Credit Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.650%, 3/15/31 | 3760000 | 3945609 |
|  Blue Owl Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 4/18/34 | 3700000 | 3867941 |
|  Brookfield Capital Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.087%, 6/14/33 | 3230000 | 3479765 |
|  Brookfield Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 1/5/34 | 3830000 | 4176602 |
|  Charles Schwab Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 5/13/31 | 1999000 | 1800912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 12/1/31 | 6130000 | 5305239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 3/3/32 | 3610000 | 3285939 |
|  Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 5.44%), 5.882%, 7/8/31(k) | 400000 | 413457 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.26%), 3.742%, 1/7/33(k) | 5600000 | 5160904 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.65%), 7.079%, 2/10/34(k) | 200000 | 219393 |
|  Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.09%), 1.992%, 1/27/32(k) | 340000 | 299733 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.41%), 3.102%, 2/24/33(k) | 640000 | 587224 |
|  Intercontinental Exchange, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 3/15/33 | 1410000 | 1415702 |
|  Jefferies Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 4/14/34 | 3940000 | 4173148 |
|  LPL Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5/20/34 | 3180000 | 3323411 |
|  Moody's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 8/8/32 | 4630000 | 4573982 |
|  Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.03%), 1.794%, 2/13/32(k) | 4690000 | 4086405 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.02%), 1.928%, 4/28/32(k) | 4780000 | 4160195 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.29%), 2.943%, 1/21/33(k) | 50000 | 45673 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.08%), 4.889%, 7/20/33(k) | 8980000 | 9100570 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.56%), 6.342%, 10/18/33(k) | 1620000 | 1781020 |
|  Nomura Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.999%, 1/22/32 | 10600000 | 9573177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.087%, 7/12/33 | 400000 | 432093 |
|  S&P Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 9/15/33 | 4970000 | 5201077 |
|  State Street Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.00%), 2.623%, 2/7/33(k) | 9880000 | 8857109 |
|  |  | 123608241 |
|  ***Consumer Finance (5.1%)*** |  |  |
|  AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 1/30/32 | 1800000 | 1657783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 10/29/33 | 9900000 | 8870726 |
|  Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 11/1/31 | 530000 | 604142 |
|  American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.76%), 4.420%, 8/3/33(k) | 1000000 | 988576 |
|  Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.07%), 7.624%, 10/30/31(k) | 600000 | 677177 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.34%), 2.359%, 7/29/32(k) | 14510000 | 12492824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 11/29/32 | 7300000 | 8048556 |
|  Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/13/30 | 8800000 | 8202304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.122%, 11/7/33 | 4000000 | 4276000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 3/8/34 | 8400000 | 8436456 |
|  General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.350%, 1/8/31 | 560000 | 495804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 1/12/32 | 2540000 | 2289646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 1/9/33 | 2550000 | 2730196 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 1/7/34 | 5380000 | 5654173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 4/4/34 | 1540000 | 1597379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 7/15/35 | 3800000 | 3969945 |
|  Toyota Motor Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 1/10/31 | 180000 | 157541 |

---

See Notes to Portfolio of Investments.

525

------

**EQ ADVISORS TRUST** 

EQ/INTERMEDIATE CORPORATE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 1/5/34 | $4293000 | $4358246 |
|  |  | 75507474 |
|  ***Financial Services (0.9%)*** |  |  |
|  Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 8/15/32(x) | 860000 | 878897 |
|  HA Sustainable Infrastructure Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 1/15/31 | 3920000 | 4019298 |
|  Jackson Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 11/23/31 | 7200000 | 6517958 |
|  National Rural Utilities Cooperative Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 6/15/31 | 269000 | 232272 |
|  Voya Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/20/34 | 400000 | 397824 |
|  Western Union Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 3/15/31 | 1090000 | 968846 |
|  |  | 13015095 |
|  ***Insurance (4.1%)*** |  |  |
|  American International Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 3/27/33 | 4230000 | 4345701 |
|  Aon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 2/28/33 | 4020000 | 4185748 |
|  Aon North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 3/1/34 | 4208000 | 4385733 |
|  Athene Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.650%, 2/1/33 | 3600000 | 3913498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 1/15/34 | 1170000 | 1223194 |
|  Brown & Brown, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 6/23/35 | 3890000 | 3994842 |
|  Chubb INA Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/15/34 | 3540000 | 3629643 |
|  CNO Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.450%, 6/15/34 | 7930000 | 8416613 |
|  Fairfax Financial Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 8/16/32 | 4890000 | 5084019 |
|  Lincoln National Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 1/15/31 | 1168000 | 1103787 |
|  Loews Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/1/35 | 3770000 | 4058051 |
|  Marsh & McLennan Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/15/35 | 3850000 | 3888006 |
|  Progressive Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 6/15/33 | 2250000 | 2311195 |
|  Willis North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 5/15/33 | 9690000 | 10018006 |
|  |  | 60558036 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 487238072 |
|  **Health Care (9.5%)** |  |  |
|  ***Biotechnology (0.7%)*** |  |  |
|  Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 1/15/32 | 5170000 | 4477503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 2/22/32 | 690000 | 646471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/2/33 | 5220000 | 5399245 |
|  |  | 10523219 |
|  ***Health Care Equipment & Supplies (0.6%)*** |  |  |
|  Baxter International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.539%, 2/1/32 | 6270000 | 5496528 |
|  Becton Dickinson & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.298%, 8/22/32 | 440000 | 432821 |
|  GE HealthCare Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.905%, 11/22/32 | 2100000 | 2259664 |
|  Medtronic Global Holdings SCA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 3/30/33 | 138000 | 137757 |
|  Zimmer Biomet Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 11/24/31(x) | 590000 | 529182 |
|  |  | 8855952 |
|  ***Health Care Providers & Services (5.0%)*** |  |  |
|  Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/1/31 | 11350000 | 9791077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 8/1/31 | 13920000 | 11981501 |
|  Cigna Group (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/15/34 | 4180000 | 4299584 |
|  CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 1/30/31 | 4560000 | 4693250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 9/15/31 | 5180000 | 4486655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/21/33 | 1640000 | 1677601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 6/1/33 | 2480000 | 2537006 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 7/20/35 | 8020000 | 7789127 |
|  Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/15/33 | 850000 | 852238 |
|  HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 7/15/31 | 760000 | 672389 |
|  Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 2/3/32 | 9550000 | 8131599 |
|  McKesson Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 5/30/35 | 3790000 | 3895785 |
|  UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/15/33 | 4710000 | 4661095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 6/15/35 | 3890000 | 4027444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 7/15/35 | 4060000 | 3996657 |
|  |  | 73493008 |
|  ***Life Sciences Tools & Services (0.2%)*** |  |  |
|  Bio-Rad Laboratories, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 3/15/32 | 1990000 | 1858536 |
|  Thermo Fisher Scientific, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.086%, 8/10/33 | 1340000 | 1388711 |
|  |  | 3247247 |
|  ***Pharmaceuticals (3.0%)*** |  |  |
|  Johnson & Johnson |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 6/1/31 | 390000 | 406390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 5/15/33 | 8070000 | 8441623 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/5/33 | 4950000 | 5000910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 6/1/34 | 15570000 | 16326297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/1/35 | 7650000 | 7931293 |
|  Merck & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 12/10/31 | 680000 | 599427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/17/33(x) | 2270000 | 2278785 |
|  Pfizer Investment Enterprises Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/19/33 | 3490000 | 3519538 |
|  |  | 44504263 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 140623689 |
|  **Industrials (7.1%)** |  |  |
|  ***Aerospace & Defense (3.4%)*** |  |  |
|  Boeing Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 2/15/33 | 4260000 | 4583175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 5/1/34 | 9990000 | 9031551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 2/1/35 | 9350000 | 8099132 |
|  Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 3/1/35 | 4310000 | 3941357 |

---

See Notes to Portfolio of Investments.

526

------

**EQ ADVISORS TRUST** 

EQ/INTERMEDIATE CORPORATE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 3/15/33 | $4760000 | $4787299 |
|  RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 9/1/31 | 11730000 | 10177660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 3/15/32 | 1340000 | 1183061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 2/27/33 | 4010000 | 4146673 |
|  Textron, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 11/15/33 | 3940000 | 4257487 |
|  |  | 50207395 |
|  ***Air Freight & Logistics (0.1%)*** |  |  |
|  FedEx Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 2/1/35§ | 140000 | 126997 |
|  United Parcel Service, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 3/3/33 | 1550000 | 1591434 |
|  |  | 1718431 |
|  ***Building Products (0.0%)†*** |  |  |
|  Trane Technologies Financing Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/3/33 | 133000 | 138497 |
|  ***Commercial Services & Supplies (0.6%)*** |  |  |
|  Republic Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/33 | 120000 | 123682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/1/34 | 4240000 | 4341798 |
|  Waste Connections, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 1/15/33 | 4890000 | 4788710 |
|  |  | 9254190 |
|  ***Electrical Equipment (0.3%)*** |  |  |
|  Regal Rexnord Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 4/15/33 | 4430000 | 4759627 |
|  ***Ground Transportation (0.7%)*** |  |  |
|  Norfolk Southern Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/15/32 | 157000 | 144519 |
|  Ryder System, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.600%, 12/1/33 | 8290000 | 9278879 |
|  Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 2/14/32 | 756000 | 693762 |
|  |  | 10117160 |
|  ***Machinery (0.1%)*** |  |  |
|  Flowserve Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 1/15/32 | 880000 | 778955 |
|  ***Professional Services (1.2%)*** |  |  |
|  Broadridge Financial Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 5/1/31 | 60000 | 54272 |
|  Concentrix Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.850%, 8/2/33 | 12440000 | 12890739 |
|  Equifax, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.350%, 9/15/31(x) | 700000 | 618753 |
|  Jacobs Engineering Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 3/1/33 | 4080000 | 4307502 |
|  Verisk Analytics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 4/1/33 | 90000 | 95607 |
|  |  | 17966873 |
|  ***Trading Companies & Distributors (0.7%)*** |  |  |
|  Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 12/1/30 | 570000 | 525973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 1/15/32 | 6290000 | 5624534 |
|  GATX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 3/15/34 | 4127000 | 4417033 |
|  |  | 10567540 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 105508668 |
|  **Information Technology (6.9%)** |  |  |
|  ***Communications Equipment (0.4%)*** |  |  |
|  Cisco Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 2/26/34 | 4132000 | 4275423 |
|  Juniper Networks, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/10/30 | 2400000 | 2102531 |
|  |  | 6377954 |
|  ***Electronic Equipment, Instruments & Components (0.5%)*** |  |  |
|  Allegion US Holding Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.411%, 7/1/32 | 500000 | 521524 |
|  Avnet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/15/31(x) | 3710000 | 3361986 |
|  Flex Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 1/15/32 | 110000 | 112584 |
|  TD SYNNEX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 4/12/34 | 3290000 | 3488228 |
|  |  | 7484322 |
|  ***IT Services (1.5%)*** |  |  |
|  Accenture Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/4/34 | 4270000 | 4205997 |
|  International Business Machines Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.720%, 2/9/32 | 600000 | 543812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/6/33 | 600000 | 609168 |
|  Kyndryl Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 10/15/31 | 4050000 | 3683297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 2/20/34 | 11772000 | 12575019 |
|  |  | 21617293 |
|  ***Semiconductors & Semiconductor Equipment (0.9%)*** |  |  |
|  Analog Devices, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 10/1/31 | 163000 | 144217 |
|  Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 11/15/30 | 148000 | 147184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 11/15/32 | 150000 | 148135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 2/15/33§ | 6180000 | 5419383 |
|  Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 8/5/32 | 143000 | 137899 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 2/10/33(x) | 1995000 | 2037027 |
|  KLA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 7/15/32 | 136000 | 137761 |
|  Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 2/9/33 | 456000 | 484201 |
|  NVIDIA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 6/15/31 | 164000 | 147411 |
|  NXP BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/11/31 | 36000 | 32296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/15/33(x) | 3790000 | 3835480 |
|  QUALCOMM, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 5/20/32 | 670000 | 565718 |
|  Skyworks Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/1/31 | 590000 | 534469 |
|  Texas Instruments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 8/16/32 | 145000 | 139135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 3/14/33 | 132000 | 135909 |
|  |  | 14046225 |
|  ***Software (2.4%)*** |  |  |
|  Fortinet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 3/15/31 | 330000 | 293640 |
|  Intuit, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 9/15/33 | 990000 | 1033030 |
|  Microsoft Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/12/35(x) | 17050000 | 16100300 |
|  Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 11/9/32 | 4660000 | 5060435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 2/6/33(x) | 570000 | 574207 |

---

See Notes to Portfolio of Investments.

527

------

**EQ ADVISORS TRUST** 

EQ/INTERMEDIATE CORPORATE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 5/15/35 | $8760000 | $7970511 |
|  Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 2/15/31 | 60000 | 52317 |
|  VMware LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 8/15/31 | 4800000 | 4228857 |
|  |  | 35313297 |
|  ***Technology Hardware, Storage & Peripherals (1.2%)*** |  |  |
|  Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 2/8/31 | 3220000 | 2854249 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 8/5/31(x) | 620000 | 545396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 8/8/32 | 9470000 | 9029418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 5/10/33 | 2170000 | 2195136 |
|  Western Digital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 2/1/32(x) | 3530000 | 3190238 |
|  |  | 17814437 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 102653528 |
|  **Materials (3.3%)** |  |  |
|  ***Chemicals (1.7%)*** |  |  |
|  Albemarle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 6/1/32(x) | 6650000 | 6558627 |
|  CF Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/15/34 | 4331000 | 4361581 |
|  Dow Chemical Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/1/34 | 4280000 | 3933928 |
|  Eastman Chemical Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/8/33 | 660000 | 693980 |
|  Ecolab, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/1/32 | 3900000 | 3412907 |
|  FMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 5/18/33(x) | 830000 | 830107 |
|  LYB International Finance III LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 5/15/33(x) | 850000 | 873141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/1/34(x) | 4200000 | 4218359 |
|  |  | 24882630 |
|  ***Containers & Packaging (0.4%)*** |  |  |
|  Berry Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 1/15/34 | 3335000 | 3469165 |
|  Sonoco Products Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/1/34(x) | 810000 | 801349 |
|  WRKCo., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/15/33(x) | 2440000 | 2167617 |
|  |  | 6438131 |
|  ***Metals & Mining (1.1%)*** |  |  |
|  ArcelorMittal SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.800%, 11/29/32 | 2490000 | 2766658 |
|  BHP Billiton Finance USA Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 2/28/33 | 735000 | 751094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 9/8/33 | 1400000 | 1455997 |
|  Kinross Gold Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7/15/33 | 1210000 | 1319381 |
|  Newmont Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 7/15/32 | 475000 | 429550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 3/15/34 | 4230000 | 4402098 |
|  Nucor Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 4/1/32(x) | 156000 | 143728 |
|  Rio Tinto Alcan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 3/15/31 | 118000 | 135382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 12/15/33 | 3830000 | 4199855 |
|  Rio Tinto Finance USA plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/9/33 | 134000 | 137615 |
|  Yamana Gold, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.630%, 8/15/31 | 121000 | 107698 |
|  |  | 15849056 |
|  ***Paper & Forest Products (0.1%)*** |  |  |
|  Suzano Austria GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 1/15/32 | 1250000 | 1121750 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 48291567 |
|  **Real Estate (4.6%)** |  |  |
|  ***Diversified REITs (1.1%)*** |  |  |
|  American Assets Trust LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 2/1/31 | 120000 | 108655 |
|  GLP Capital LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/15/31 | 40000 | 38306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 1/15/32 | 350000 | 314293 |
|  Safehold GL Holdings LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 1/15/35 | 14040000 | 14331862 |
|  Simon Property Group LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 2/1/31(x) | 450000 | 404575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 1/15/32 | 430000 | 377806 |
|  |  | 15575497 |
|  ***Health Care REITs (1.3%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 5/18/32 | 550000 | 464793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/1/33(x) | 10440000 | 8561552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 3/15/34 | 4630000 | 3999680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 4/15/35 | 4080000 | 3980322 |
|  Healthcare Realty Holdings LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/15/31(x) | 2480000 | 2151219 |
|  Omega Healthcare Investors, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 4/15/33(x) | 550000 | 484559 |
|  |  | 19642125 |
|  ***Office REITs (1.7%)*** |  |  |
|  Boston Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 1/30/31 | 1380000 | 1280274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 4/1/32 | 2370000 | 2047555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 10/1/33 | 5570000 | 4543980 |
|  Highwoods Realty LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 2/1/31(x) | 3030000 | 2680040 |
|  Kilroy Realty LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/15/32 | 4976000 | 4132994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 11/15/33 | 12718000 | 10386357 |
|  |  | 25071200 |
|  ***Residential REITs (0.3%)*** |  |  |
|  UDR, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 8/1/32 | 2681000 | 2282341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 6/15/33 | 2011000 | 1663937 |
|  |  | 3946278 |
|  ***Retail REITs (0.2%)*** |  |  |
|  Kimco Realty OP LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 12/1/31 | 1350000 | 1188638 |
|  Realty Income Corp. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 2/15/31 | 1250000 | 1177165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 3/15/33 | 640000 | 529190 |
|  |  | 2894993 |

---

See Notes to Portfolio of Investments.

528

------

**EQ ADVISORS TRUST** 

EQ/INTERMEDIATE CORPORATE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  ***Specialized REITs (0.0%)†*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Crown Castle, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 5/1/33 | $500000 | $505613 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 67635706 |
|  **Utilities (10.9%)** |  |  |
|  ***Electric Utilities (7.3%)*** |  |  |
|  AEP Texas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 5/15/34 | 4060000 | 4226989 |
|  Alabama Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.940%, 9/1/32 | 2620000 | 2535659 |
|  Arizona Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 12/15/31 | 510000 | 445313 |
|  DTE Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/1/34 | 4235000 | 4372645 |
|  Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 1/15/33 | 4680000 | 4812543 |
|  Duke Energy Indiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/1/34 | 4220000 | 4348250 |
|  Edison International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/15/32 | 4410000 | 4366834 |
|  Entergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 6/15/31 | 330000 | 294533 |
|  Entergy Louisiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.600%, 12/15/30 | 680000 | 596331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.350%, 6/15/32 | 6010000 | 5267059 |
|  Eversource Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 3/15/31 | 590000 | 532110 |
|  Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 4/1/33 | 700000 | 722452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 5/15/33 | 3060000 | 3108222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 6/15/34 | 4030000 | 4201031 |
|  NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.440%, 1/15/32 | 930000 | 820593 |
|  Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 6/15/32 | 4500000 | 4709406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 10/15/32 | 3300000 | 3260730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 6/15/33 | 3730000 | 3999812 |
|  PacifiCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 2/15/34 | 4030000 | 4121199 |
|  PPL Electric Utilities Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 2/15/34 | 4106000 | 4162116 |
|  Progress Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 10/30/31 | 90000 | 101123 |
|  Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1/15/34 | 4190000 | 4374018 |
|  Southern Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 10/15/32 | 2580000 | 2728839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 6/15/33 | 9310000 | 9564730 |
|  Southwestern Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 5/15/35 | 3810000 | 3879965 |
|  Virginia Electric and Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 11/15/31 | 13700000 | 12136229 |
|  Xcel Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 8/15/33 | 13420000 | 13876368 |
|  |  | 107565099 |
|  ***Gas Utilities (1.9%)*** |  |  |
|  ONE Gas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 9/1/32 | 1280000 | 1262147 |
|  Southern California Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 6/1/33 | 8700000 | 8949887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 9/1/34 | 8350000 | 8493108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 6/15/35 | 3790000 | 3932836 |
|  Southwest Gas Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 3/15/32 | 5080000 | 4868906 |
|  |  | 27506884 |
|  ***Multi-Utilities (1.7%)*** |  |  |
|  Ameren Illinois Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 6/1/33 | 1680000 | 1722307 |
|  Berkshire Hathaway Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 5/15/31 | 4870000 | 4211463 |
|  National Grid plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.809%, 6/12/33 | 4400000 | 4673458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.418%, 1/11/34 | 12640000 | 13090313 |
|  NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 2/15/31 | 2380000 | 2066986 |
|  Public Service Enterprise Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 11/15/31 | 260000 | 229948 |
|  |  | 25994475 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 161066458 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  | 1437852938 |
|  **U.S. Treasury Obligations (0.0%)†** |  |  |
|  U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/35 | 155200 | 156628 |
|  **Total U.S. Treasury Obligations** |  | 156628 |
|  **Total Long-Term Debt Securities (97.3%)**<br> *(Cost $1,366,067,327)* |  | 1438009566 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (2.1%)** |  |  |
|  Allspring Government Money Market Fund, Select Shares 4.07% (7 day yield) (xx) | 1000000 | 1000000 |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 1000000 | 1000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 24210843 | 24210843 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 5008031 | 5010033 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 31220876 |
|  **Total Short-Term Investments (2.1%)**<br> *(Cost $31,220,055)* |  | 31220876 |
|  **Total Investments in Securities (99.4%)**<br> *(Cost $1,397,287,382)* |  | 1469230442 |
|  **Other Assets Less Liabilities (0.6%)** |  | 9586798 |
|  **Net Assets (100%)** |  | $1478817240 |

---

See Notes to Portfolio of Investments.

529

------

**EQ ADVISORS TRUST** 

EQ/INTERMEDIATE CORPORATE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

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

---

| | |
|:---|:---|
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At September 30, 2025, the market value of these securities amounted to $5,546,380 or 0.4% of net assets.*  |

---

*(e)* *Step Bond - Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of September 30, 2025. Maturity date disclosed is the ultimate maturity date.* 

*(k)* *Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of September 30, 2025.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $25,660,131. This was collateralized by cash of $26,210,843 which was subsequently invested in investment companies.* 

*Glossary:* 

*CME — Chicago Mercantile Exchange* 

*REIT — Real Estate Investment Trust* 

*SOFR — Secured Overnight Financing Rate* 

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Corporate Bonds** |  |  |  |  |
|  Communication Services | $— | $70775902 | $— | $70775902 |
|  Consumer Discretionary |  | 53262829 |  | 53262829 |
|  Consumer Staples |  | 76794234 |  | 76794234 |
|  Energy |  | 124002285 |  | 124002285 |
|  Financials |  | 487238072 |  | 487238072 |
|  Health Care |  | 140623689 |  | 140623689 |
|  Industrials |  | 105508668 |  | 105508668 |
|  Information Technology |  | 102653528 |  | 102653528 |
|  Materials |  | 48291567 |  | 48291567 |
|  Real Estate |  | 67635706 |  | 67635706 |
|  Utilities |  | 161066458 |  | 161066458 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 31220876 |  |  | 31220876 |
|  **U.S. Treasury Obligations** |  | 156628 |  | 156628 |
|  **Total Assets** | $**31220876** | $**1438009566** | $**—** | $**1469230442** |
|  **Total** | $**31220876** | $**1438009566** | $**—** | $**1469230442** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $72187890 |
|  Aggregate gross unrealized depreciation | (332012) |
|  Net unrealized appreciation | $71855878 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1397374564 |

---

See Notes to Portfolio of Investments.

530

------

**EQ ADVISORS TRUST** 

EQ/INTERMEDIATE GOVERNMENT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Corporate Bonds (0.3%)** |  |  |
|  **Financials (0.3%)** |  |  |
|  ***Financial Services (0.3%)*** |  |  |
|  Private Export Funding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/7/27§ | $10000000 | $10087501 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 10087501 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  | 10087501 |
|  **U.S. Government Agency Securities (49.3%)** |  |  |
|  FFCB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 10/10/25 | 10000000 | 10002424 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 10/20/25 | 4925000 | 4927321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 3/13/26 | 20000000 | 20057756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 6/23/26 | 32000000 | 32119472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.680%, 1/13/27 | 5000000 | 4813079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.700%, 1/27/27 | 15000000 | 14410059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 3/26/27 | 20000000 | 20251112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/6/27 | 15000000 | 15263217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/20/27 | 15000000 | 15203646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.970%, 8/26/27 | 5000000 | 5007551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/27/27 | 5000000 | 4993164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.670%, 12/2/27 | 20000000 | 20014702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/14/28 | 15000000 | 15192078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/28/28 | 10000000 | 10125402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/24/28 | 15000000 | 15206668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.420%, 6/16/28 | 5000000 | 5013871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.070%, 8/21/28 | 5000000 | 5006944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/28/28 | 10000000 | 10229902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.040%, 1/25/29 | 15000000 | 13731380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/20/29 | 15000000 | 15214287 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/1/30 | 15000000 | 15174309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.230%, 7/29/30 | 5000000 | 4424769 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.240%, 9/3/30 | 10000000 | 8813886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.380%, 1/14/31 | 30000000 | 26320959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.990%, 3/17/31 | 10000000 | 9043681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.890%, 9/12/33 | 15000000 | 14933868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.940%, 3/24/34 | 10500000 | 10455516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.970%, 9/17/35 | 10000000 | 9965012 |
|  FHLB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/9/26 | 55000000 | 55198154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/17/26(x) | 25000000 | 25254985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 11/23/26 | 50000000 | 48759985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 12/21/26 | 50000000 | 48572015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 1/15/27(x) | 22245000 | 22414256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 1/28/27 | 69245000 | 67457163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.830%, 2/10/27 | 10000000 | 9622182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.020%, 2/24/27 | 15000000 | 14452016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.900%, 2/26/27 | 35000000 | 33652745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.115%, 2/26/27 | 30000000 | 28960200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/10/27 | 25000000 | 25113615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/12/27 | 2000000 | 1982599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 4/9/27 | 47460000 | 48240726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/4/27 | 20465000 | 20538281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/9/27(x) | 53900000 | 53707830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 9/10/27 | 20000000 | 20182022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.100%, 2/25/28 | 15000000 | 14119905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/6/28 | 10000000 | 10034367 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 3/10/28 | 6200000 | 6325839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/9/28 | 25000000 | 24741430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/9/28 | 10000000 | 10084685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 6/9/28 | 15000000 | 15004409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/30/28 | 12500000 | 12618065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 8/16/28 | 5000000 | 4618032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/16/28 | 89335000 | 88289244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 9/14/29 | 15000000 | 15241098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 12/14/29 | 3195000 | 3001574 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/8/30 | 2500000 | 2564588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 6/14/30 | 5000000 | 5078193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/13/30 | 10000000 | 10332351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 3/10/34 | 10000000 | 10359353 |
|  FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 1/15/27 | 10000000 | 10001084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/19/27 | 11250000 | 11250416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/9/27 | 10000000 | 9999750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 11/26/27 | 20000000 | 20013492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 2/11/28 | 15000000 | 15022944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/10/28 | 15000000 | 15000270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/11/28 | 15000000 | 14993981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 6/30/28 | 4500000 | 4497107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 7/24/28 | 10000000 | 9996292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 8/21/28 | 10000000 | 10002336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.170%, 9/22/28 | 15000000 | 14994427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 9/26/28 | 10000000 | 9995848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 9/15/29 | 20000000 | 22229128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.030%, 10/10/29 | 15000000 | 14951198 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.860%, 10/22/29 | 7500000 | 7500638 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 12/18/29 | 15000000 | 15064316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/14/30 | 15000000 | 15022584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 2/13/30 | 10625000 | 10634591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/13/30 | 10000000 | 10004173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 5/14/30 | 10000000 | 10001069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.130%, 9/16/30 | 10500000 | 10479191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 9/19/30 | 15000000 | 14957955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 9/26/30 | 15000000 | 14981937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 9/26/30 | 10000000 | 9987734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 3/15/31 | 18000000 | 20550652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7/15/32(x) | 50000000 | 56750300 |
|  FNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 12/18/26 | 10000000 | 9661865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 10/8/27 | 75000000 | 70817408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 5/15/29 | 25000000 | 27151762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 1/15/30 | 32500000 | 36845585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 5/15/30(x) | 5000000 | 5744094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 8/5/30 | 179805000 | 157010850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 11/15/30 | 50000000 | 56539020 |
|  Tennessee Valley Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3/15/28 | 17500000 | 17626525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/1/30(x) | 16865000 | 16851186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 9/15/31 | 10420000 | 9065180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/1/34(x) | 19880000 | 20091853 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 5/15/35 | 30830000 | 31756001 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 2/1/27 | 48000000 | 47460725 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 11/1/25(x) | 15779000 | 15807984 |
|  **Total U.S. Government Agency Securities** |  | 2013751393 |
|  **U.S. Treasury Obligations (42.2%)** |  |  |
|  U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/26(x) | 14500000 | 14634532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/15/26 | 20000000 | 20158664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/15/27 | 15000000 | 15058015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 1/31/27 | 10000000 | 10055933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 2/15/27 | 10000000 | 9810244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 2/28/27 | 10000000 | 10061375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3/31/27 | 15000000 | 15046928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/30/27 | 30000000 | 30048663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 5/31/27 | 10000000 | 10036122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 6/30/27 | 15000000 | 15029552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 7/15/27 | 15000000 | 15191053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/31/27 | 15000000 | 15063847 |

---

See Notes to Portfolio of Investments.

531

------

**EQ ADVISORS TRUST** 

EQ/INTERMEDIATE GOVERNMENT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/15/27 | $15000000 | $15034479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/31/27 | 10000000 | 10001190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 9/15/27 | 15000000 | 14934845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/30/27 | 15000000 | 14970703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/15/27 | 15000000 | 15078363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 11/15/27 | 18500000 | 17988482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/27 | 15000000 | 15157143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/30/27 | 10000000 | 10054705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/15/27 | 7500000 | 7563470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/31/27 | 25000000 | 25141605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/15/28 | 10000000 | 10138508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/31/28 | 17000000 | 16958083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 2/15/28 | 25600000 | 25095726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/15/28 | 10000000 | 10143770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/15/28 | 40000000 | 40131976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 4/30/28 | 10000000 | 9421880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/28 | 31500000 | 30914465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 5/31/28 | 16500000 | 15513881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5/31/28 | 20000000 | 20006492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 6/30/28 | 5000000 | 4692580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/30/28 | 17500000 | 17674988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/15/28 | 15000000 | 15100781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 7/31/28 | 20000000 | 20268666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 8/15/28 | 35000000 | 34284989 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 8/31/28 | 10000000 | 9313076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/31/28 | 15000000 | 15309022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 9/15/28 | 10000000 | 9933594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 9/30/28 | 15000000 | 13993151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/28 | 25000000 | 25708447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/28 | 15000000 | 15537873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 11/15/28 | 62500000 | 61560019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/28 | 10000000 | 10218731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/28 | 10000000 | 10034421 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/31/29 | 15000000 | 15164053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 2/15/29 | 22000000 | 21293831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/28/29 | 15000000 | 15289387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/31/29 | 10000000 | 10153827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/30/29 | 21000000 | 21671084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/29 | 21000000 | 20090200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/31/29 | 10000000 | 10282210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/30/29 | 15000000 | 14779196 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 6/30/29 | 5000000 | 5100517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/31/29 | 10000000 | 10113559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 8/15/29 | 12500000 | 11598170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/31/29 | 10000000 | 9977227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/30/29 | 10000000 | 9932678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/31/29 | 25000000 | 25288948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/29 | 25000000 | 25403870 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/30/29 | 18000000 | 18294629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/31/29 | 20000000 | 20135924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/31/29 | 15000000 | 15394329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 2/15/30 | 11900000 | 10854091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/28/30 | 15000000 | 15178689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 4/30/30 | 10000000 | 10066070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 5/15/30 | 15000000 | 13042685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 6/30/30 | 20000000 | 20015502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/31/30 | 15000000 | 15173293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 8/15/30 | 21500000 | 18539338 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 8/31/30 | 10000000 | 10171085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/30/30 | 15000000 | 14927344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/30 | 15000000 | 15595409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/30 | 15000000 | 15772293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 11/15/30 | 19000000 | 16479802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/30 | 10000000 | 10285961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/30 | 10000000 | 9992198 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/31/31 | 10000000 | 10108589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 2/15/31 | 20600000 | 18004878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/31/31 | 10000000 | 10164017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/30/31 | 15000000 | 15617631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 5/15/31 | 15000000 | 13359707 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 7/31/31 | 5000000 | 5077667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 8/15/31 | 15000000 | 12977213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/31/31 | 10000000 | 9957287 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/30/31 | 10000000 | 9884744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/31 | 10000000 | 10147858 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 11/15/31 | 13500000 | 11685686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/30/31 | 15000000 | 15215915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/31/31 | 10000000 | 10347817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/15/32 | 19000000 | 16857547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/30/32 | 5000000 | 5030355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/32 | 23000000 | 21622383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/31/32 | 10000000 | 10050089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 8/15/32 | 21000000 | 19525040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/31/32 | 10000000 | 9972777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 9/30/32 | 10000000 | 9968750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/32 | 3000000 | 3034927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/15/33 | 25000000 | 24273447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 5/15/33 | 24500000 | 23535631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/33 | 28000000 | 27774852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/33 | 16000000 | 16541227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/15/34 | 17500000 | 17453105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/15/34 | 18500000 | 18927996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/34 | 21000000 | 20680632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/15/34 | 20000000 | 20227000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/15/35 | 21000000 | 21824819 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/35 | 22500000 | 22706978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 8/15/35(x) | 15000000 | 15121875 |
| **Total U.S. Treasury Obligations** |  | 1721810870 |
|  **Total Long-Term Debt Securities (91.8%)**<br> *(Cost $3,781,243,902)* |  | 3745649764 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Fixed Income (7.3%)** |  |  |
|  Schwab Intermediate-Term U.S. Treasury ETF | 1900000 | 47747000 |
|  Schwab Short-Term U.S. Treasury ETF | 1900000 | 46360000 |
|  Vanguard Intermediate-Term Treasury ETF | 2050000 | 123061500 |
|  Vanguard Short-Term Treasury ETF(x) | 1400000 | 82390000 |
|  **Total Exchange Traded Funds (7.3%)**<br> *(Cost $308,720,210)* |  | 299558500 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.5%)** |  |  |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 10000000 | 10000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 10816233 | 10816233 |

---

See Notes to Portfolio of Investments.

532

------

**EQ ADVISORS TRUST** 

EQ/INTERMEDIATE GOVERNMENT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 1000000 | $1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 21816233 |
|  **Total Short-Term Investments (0.5%)**<br> *(Cost $21,816,233)* |  | 21816233 |
|  **Total Investments in Securities (99.6%)**<br> *(Cost $4,111,780,345)* |  | 4067024497 |
|  **Other Assets Less Liabilities (0.4%)** | **Other Assets Less Liabilities (0.4%)** | 14521270 |
|  **Net Assets (100%)** |  | $4081545767 |

---

---

| | |
|:---|:---|
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At September 30, 2025, the market value of these securities amounted to $10,087,501 or 0.2% of net assets.*  |

---

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $46,725,044. This was collateralized by $25,854,912 of various U.S. Government Treasury Securities, ranging from 0.000% – 4.875%, maturing 10/15/25 – 2/15/55 and by cash of $21,816,233 which was subsequently invested in investment companies.* 

*Glossary:* 

*FFCB — Federal Farm Credit Bank* 

*FHLB — Federal Home Loan Bank* 

*FHLMC — Federal Home Loan Mortgage Corp.* 

*FNMA — Federal National Mortgage Association* 

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Corporate Bonds** |  |  |  |  |
|  Financials | $— | $10087501 | $— | $10087501 |
|  **Exchange Traded Funds** | 299558500 |  |  | 299558500 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 21816233 |  |  | 21816233 |
|  **U.S. Government Agency Securities** |  | 2013751393 |  | 2013751393 |
|  **U.S. Treasury Obligations** |  | 1721810870 |  | 1721810870 |
|  **Total Assets** | $**321374733** | $**3745649764** | $**—** | $**4067024497** |
|  **Total** | $**321374733** | $**3745649764** | $**—** | $**4067024497** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $24514256 |
|  Aggregate gross unrealized depreciation | (69352169) |
|  Net unrealized depreciation | $(44837913) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $4111862410 |

---

See Notes to Portfolio of Investments.

533

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Australia (3.9%)** |  |  |
|  ANZ Group Holdings Ltd. | 91945 | $2020497 |
|  APA Group | 40602 | 238573 |
|  Aristocrat Leisure Ltd. | 39755 | 1840886 |
|  ASX Ltd. | 6029 | 233738 |
|  BHP Group Ltd. | 157899 | 4443610 |
|  BlueScope Steel Ltd. | 14521 | 218018 |
|  Brambles Ltd. | 43000 | 705637 |
|  CAR Group Ltd. | 12233 | 297718 |
|  Cochlear Ltd. | 2035 | 376027 |
|  Coles Group Ltd. | 41677 | 642284 |
|  Commonwealth Bank of Australia | 52057 | 5749057 |
|  Computershare Ltd. | 16393 | 393647 |
|  Evolution Mining Ltd. | 63420 | 454481 |
|  Fortescue Ltd. | 52678 | 651129 |
|  Glencore plc | 547030 | 2513153 |
|  Goodman Group (REIT) | 63183 | 1370472 |
|  Insurance Australia Group Ltd. | 73551 | 399083 |
|  Lottery Corp. Ltd. (The) | 124785 | 485513 |
|  Macquarie Group Ltd. | 11263 | 1634607 |
|  Medibank Pvt Ltd. | 83102 | 265045 |
|  National Australia Bank Ltd. | 95266 | 2783106 |
|  Northern Star Resources Ltd. | 84652 | 1329218 |
|  Origin Energy Ltd. | 56798 | 469790 |
|  Pro Medicus Ltd. | 1772 | 361480 |
|  Qantas Airways Ltd. | 25023 | 180810 |
|  QBE Insurance Group Ltd. | 46659 | 635701 |
|  REA Group Ltd.(x) | 1607 | 245698 |
|  Rio Tinto Ltd. | 11543 | 932066 |
|  Rio Tinto plc | 35107 | 2307653 |
|  Rio Tinto plc (ADR) | 19996 | 1319936 |
|  Santos Ltd. | 100992 | 449742 |
|  Scentre Group (REIT) | 160126 | 432298 |
|  SGH Ltd. | 6328 | 209069 |
|  Sigma Healthcare Ltd. | 146247 | 287412 |
|  Sonic Healthcare Ltd. | 14010 | 198758 |
|  South32 Ltd. | 135217 | 245156 |
|  Stockland (REIT) | 77967 | 315735 |
|  Suncorp Group Ltd. | 33673 | 451422 |
|  Telstra Group Ltd. | 125753 | 401076 |
|  Transurban Group | 96335 | 879679 |
|  Vicinity Ltd. (REIT) | 116616 | 194455 |
|  Washington H Soul Pattinson & Co. Ltd.(x) | 10145 | 258381 |
|  Wesfarmers Ltd. | 35300 | 2149404 |
|  Westpac Banking Corp. | 106486 | 2745896 |
|  WiseTech Global Ltd. | 12806 | 764754 |
|  Woodside Energy Group Ltd. | 59065 | 900089 |
|  Woolworths Group Ltd. | 37883 | 669294 |
|  |  | 47051253 |
|  **Austria (0.4%)** |  |  |
|  Erste Group Bank AG | 48150 | 4703338 |
|  Mondi plc | 14685 | 202239 |
|  OMV AG | 4648 | 247856 |
|  Verbund AG | 2045 | 148618 |
|  |  | 5302051 |
|  **Belgium (0.8%)** |  |  |
|  Ageas SA/NV | 4752 | 328608 |
|  Anheuser-Busch InBev SA/NV | 42986 | 2563760 |
|  D'ieteren Group | 734 | 137191 |
|  Elia Group SA/NV, Class B | 1294 | 149111 |
|  Groupe Bruxelles Lambert NV | 2520 | 225002 |
|  KBC Group NV | 7141 | 850546 |
|  Lotus Bakeries NV | 13 | 122406 |
|  Sofina SA(x) | 435 | 128189 |
|  Syensqo SA | 25096 | 2024174 |
|  UCB SA | 10339 | 2852548 |
|  |  | 9381535 |
|  **Brazil (0.6%)** |  |  |
|  Ambev SA | 477400 | 1082666 |
|  B3 SA - Brasil Bolsa Balcao | 398200 | 998820 |
|  Banco Bradesco SA (ADR) | 310116 | 1048192 |
|  Banco BTG Pactual SA | 70393 | 638956 |
|  MercadoLibre, Inc.\* | 253 | 591246 |
|  Petroleo Brasileiro SA - Petrobras (ADR) | 105109 | 1330680 |
|  TOTVS SA | 95100 | 815692 |
|  XP, Inc., Class A | 28773 | 540644 |
|  Yara International ASA | 5543 | 202512 |
|  |  | 7249408 |
|  **Canada (1.1%)** |  |  |
|  Agnico Eagle Mines Ltd. | 16170 | 2723466 |
|  CAE, Inc.\* | 75520 | 2236243 |
|  Canadian National Railway Co. | 16710 | 1575785 |
|  Element Fleet Management Corp. | 53605 | 1388176 |
|  Franco-Nevada Corp. | 11875 | 2643184 |
|  RB Global, Inc. | 22158 | 2400012 |
|  |  | 12966866 |
|  **Chile (0.2%)** |  |  |
|  Antofagasta plc | 12262 | 453672 |
|  Sociedad Quimica y Minera de Chile SA (ADR)\* | 32636 | 1402695 |
|  |  | 1856367 |
|  **China (1.4%)** |  |  |
|  Alibaba Group Holding Ltd. | 52900 | 1203207 |
|  Baidu, Inc. (ADR)(x)\* | 14376 | 1894326 |
|  BOC Hong Kong Holdings Ltd. | 115043 | 540182 |
|  BYD Co. Ltd., Class H | 116000 | 1642673 |
|  China Life Insurance Co. Ltd., Class H | 255000 | 724176 |
|  China Resources Gas Group Ltd. | 116100 | 295996 |
|  Kingsoft Corp. Ltd. | 77800 | 346113 |
|  Prosus NV | 67028 | 4716932 |
|  SITC International Holdings Co. Ltd. | 47000 | 180947 |
|  Tencent Holdings Ltd. | 23100 | 1968054 |
|  TravelSky Technology Ltd., Class H | 759000 | 1035805 |
|  Wharf Holdings Ltd. (The) | 37315 | 106738 |
|  Wilmar International Ltd. | 64455 | 142406 |
|  Yangzijiang Shipbuilding Holdings Ltd. | 79100 | 206649 |
|  Yum China Holdings, Inc. (New York Stock Exchange) | 12857 | 551822 |
|  Yum China Holdings, Inc.(Hong Kong Stock Exchange) | 33200 | 1454803 |
|  |  | 17010829 |
|  **Colombia (0.2%)** |  |  |
|  Grupo Cibest SA (ADR) | 38354 | 1992107 |
|  **Denmark (1.1%)** |  |  |
|  AP Moller - Maersk A/S, Class A(x) | 91 | 177905 |
|  AP Moller - Maersk A/S, Class B(x) | 117 | 229380 |
|  Carlsberg A/S, Class B | 2971 | 345228 |
|  Coloplast A/S, Class B(x) | 3866 | 330170 |
|  Danske Bank A/S | 20740 | 883678 |
|  Demant A/S\* | 2371 | 82115 |
|  DSV A/S | 7871 | 1565398 |
|  Genmab A/S\* | 1894 | 574183 |
|  Novo Nordisk A/S, Class B | 124179 | 6731355 |
|  Novonesis Novozymes B | 10931 | 668955 |
|  Orsted A/S(m)(x)\* | 5104 | 91154 |
|  Pandora A/S | 2550 | 332243 |
|  ROCKWOOL A/S, Class B | 3110 | 115487 |
|  Tryg A/S | 10542 | 267444 |

---

See Notes to Portfolio of Investments.

534

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value <br>(Note 1)** |
|  Vestas Wind Systems A/S | 31403 | $591703 |
|  |  | 12986398 |
|  **Finland (0.6%)** |  |  |
|  Elisa OYJ | 4410 | 231230 |
|  Fortum OYJ | 13951 | 263787 |
|  Kesko OYJ, Class B | 9032 | 191933 |
|  Kone OYJ, Class B | 27963 | 1904138 |
|  Metso OYJ | 18743 | 257131 |
|  Neste OYJ | 13084 | 239405 |
|  Nokia OYJ | 165603 | 793064 |
|  Nordea Bank Abp | 96569 | 1584441 |
|  Orion OYJ, Class B | 3262 | 249508 |
|  Sampo OYJ, Class A | 75317 | 864629 |
|  Stora Enso OYJ, Class R | 18054 | 197889 |
|  UPM-Kymmene OYJ | 16603 | 453596 |
|  Wartsila OYJ Abp | 15458 | 461878 |
|  |  | 7692629 |
|  **France (7.6%)** |  |  |
|  Accor SA | 30004 | 1419616 |
|  Aeroports de Paris SA(x) | 1194 | 157424 |
|  Air Liquide SA | 31985 | 6641445 |
|  Airbus SE | 26036 | 6034037 |
|  Alstom SA\* | 87979 | 2284813 |
|  Amundi SA(m) | 2104 | 166492 |
|  Arkema SA | 1861 | 117111 |
|  AXA SA | 94898 | 4527905 |
|  BioMerieux | 1208 | 161397 |
|  BNP Paribas SA | 46419 | 4214348 |
|  Bollore SE | 23698 | 133994 |
|  Bouygues SA | 6017 | 270702 |
|  Bureau Veritas SA | 9879 | 308982 |
|  Capgemini SE | 39673 | 5754722 |
|  Carrefour SA | 16866 | 255341 |
|  Cie de Saint-Gobain SA | 28246 | 3039649 |
|  Cie Generale des Etablissements Michelin SCA | 32499 | 1165267 |
|  Covivio SA (REIT) | 1895 | 127260 |
|  Credit Agricole SA | 33025 | 648285 |
|  Danone SA | 20082 | 1748490 |
|  Dassault Aviation SA | 647 | 216185 |
|  Dassault Systemes SE | 49998 | 1673541 |
|  Edenred SE | 7524 | 178438 |
|  Eiffage SA | 2133 | 272212 |
|  Engie SA | 56816 | 1217697 |
|  EssilorLuxottica SA | 16358 | 5300610 |
|  FDJ United | 3604 | 120591 |
|  Gecina SA (REIT) | 1476 | 147816 |
|  Getlink SE | 9354 | 171979 |
|  Hermes International SCA | 985 | 2408863 |
|  Ipsen SA | 1207 | 160980 |
|  Kering SA | 3976 | 1318950 |
|  Klepierre SA (REIT) | 6690 | 260452 |
|  Legrand SA | 8158 | 1346653 |
|  L'Oreal SA | 7479 | 3235695 |
|  LVMH Moet Hennessy Louis Vuitton SE | 14099 | 8615801 |
|  Orange SA | 146608 | 2377048 |
|  Pernod Ricard SA | 21313 | 2090382 |
|  Publicis Groupe SA | 23296 | 2234003 |
|  Renault SA | 5649 | 230801 |
|  Rexel SA | 7227 | 236218 |
|  Safran SA | 21172 | 7459582 |
|  Sartorius Stedim Biotech | 835 | 168666 |
|  Societe Generale SA | 22406 | 1482593 |
|  Sodexo SA | 8037 | 505289 |
|  Teleperformance SE(x) | 1700 | 126419 |
|  Thales SA | 2882 | 902071 |
|  TotalEnergies SE | 63553 | 3859803 |
|  Unibail-Rodamco-Westfield (REIT) | 3916 | 411208 |
|  Veolia Environnement SA | 19094 | 649654 |
|  Vinci SA | 15400 | 2132580 |
|  |  | 90690060 |
|  **Germany (7.6%)** |  |  |
|  adidas AG | 9023 | 1900465 |
|  Allianz SE (Registered) | 16671 | 6995243 |
|  Aumovio SE\* | 9185 | 378722 |
|  BASF SE | 27764 | 1381758 |
|  Bayer AG (Registered) | 30549 | 1012499 |
|  Bayerische Motoren Werke AG | 19652 | 1971308 |
|  Bayerische Motoren Werke AG (Preference)(q) | 1695 | 157112 |
|  Beiersdorf AG | 3085 | 322353 |
|  Brenntag SE | 3816 | 228041 |
|  Commerzbank AG | 23927 | 901456 |
|  Continental AG | 21443 | 1412830 |
|  Covestro AG\* | 5490 | 375775 |
|  CTS Eventim AG & Co. KGaA | 1940 | 189957 |
|  Daimler Truck Holding AG | 28628 | 1177047 |
|  Deutsche Bank AG (Registered) | 57574 | 2024463 |
|  Deutsche Boerse AG | 11463 | 3069801 |
|  Deutsche Lufthansa AG (Registered) | 17164 | 145251 |
|  Deutsche Post AG | 29863 | 1330201 |
|  Deutsche Telekom AG (Registered) | 139154 | 4739473 |
|  Dr Ing hc F Porsche AG (Preference)(m)(q)(x) | 3333 | 161533 |
|  E.ON SE | 69839 | 1313141 |
|  Evonik Industries AG | 8566 | 148541 |
|  Fresenius Medical Care AG | 6387 | 334890 |
|  Fresenius SE & Co. KGaA | 13140 | 731241 |
|  GEA Group AG | 31593 | 2331217 |
|  Hannover Rueck SE | 1873 | 564262 |
|  Heidelberg Materials AG | 6188 | 1391615 |
|  Henkel AG & Co. KGaA | 3201 | 237326 |
|  Henkel AG & Co. KGaA (Preference)(q) | 4913 | 396269 |
|  Hensoldt AG | 1974 | 255628 |
|  Infineon Technologies AG | 40623 | 1583422 |
|  Knorr-Bremse AG | 2353 | 220589 |
|  LEG Immobilien SE | 2527 | 200854 |
|  Mercedes-Benz Group AG | 22465 | 1410273 |
|  Merck KGaA | 18908 | 2429674 |
|  MTU Aero Engines AG | 7444 | 3416321 |
|  Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered) | 4059 | 2589556 |
|  Nemetschek SE | 1796 | 233632 |
|  Porsche Automobil Holding SE (Preference)(q) | 4680 | 183793 |
|  Rational AG | 170 | 129533 |
|  Rheinmetall AG | 2037 | 4746011 |
|  RWE AG | 51475 | 2285622 |
|  SAP SE | 55797 | 14929380 |
|  Sartorius AG (Preference)(q) | 852 | 197957 |
|  Scout24 SE(m) | 2332 | 291858 |
|  Siemens AG (Registered) | 31625 | 8510043 |
|  Siemens Energy AG\* | 21135 | 2466963 |
|  Siemens Healthineers AG(m) | 72023 | 3891387 |
|  Symrise AG, Class A | 16853 | 1464975 |
|  Talanx AG | 1928 | 256236 |
|  Volkswagen AG (Preference)(q) | 6400 | 690980 |
|  Vonovia SE | 22974 | 716123 |
|  Zalando SE(m)\* | 30725 | 938250 |
|  |  | 91362850 |

---

See Notes to Portfolio of Investments.

535

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  **Hong Kong (1.5%)** |  |  |
|  AIA Group Ltd. | 644452 | $6182042 |
|  AIA Group Ltd. (ADR) | 33599 | 1291210 |
|  CK Asset Holdings Ltd. | 59705 | 289397 |
|  CK Infrastructure Holdings Ltd. | 20340 | 133562 |
|  CLP Holdings Ltd. | 53564 | 443616 |
|  Futu Holdings Ltd. (ADR) | 1653 | 287473 |
|  Hang Seng Bank Ltd. | 23174 | 352883 |
|  Henderson Land Development Co. Ltd. | 44906 | 158344 |
|  HKT Trust & HKT Ltd. | 112042 | 165861 |
|  Hong Kong & China Gas Co. Ltd. | 348330 | 302586 |
|  Hong Kong Exchanges & Clearing Ltd. | 37439 | 2126464 |
|  Hongkong Land Holdings Ltd. | 36900 | 224352 |
|  Jardine Matheson Holdings Ltd. | 4700 | 288486 |
|  Link REIT (REIT) | 80878 | 415721 |
|  MTR Corp. Ltd. | 51618 | 174980 |
|  Power Assets Holdings Ltd. | 42996 | 272277 |
|  Prudential plc | 227011 | 3178247 |
|  Sino Land Co. Ltd. | 105239 | 133206 |
|  Sun Hung Kai Properties Ltd. | 45278 | 542269 |
|  Swire Pacific Ltd., Class A | 11331 | 96027 |
|  Techtronic Industries Co. Ltd. | 45500 | 582055 |
|  WH Group Ltd.(m) | 257323 | 278752 |
|  Wharf Real Estate Investment Co. Ltd. | 50330 | 148753 |
|  |  | 18068563 |
|  **India (0.6%)** |  |  |
|  HDFC Bank Ltd. | 178361 | 1910392 |
|  HDFC Bank Ltd. (ADR) | 42919 | 1466113 |
|  ICICI Bank Ltd. (ADR) | 68257 | 2063409 |
|  Kotak Mahindra Bank Ltd. | 20099 | 451085 |
|  Reliance Industries Ltd. | 53838 | 827076 |
|  UPL Ltd. | 74523 | 550432 |
|  |  | 7268507 |
|  **Ireland (0.4%)** |  |  |
|  AerCap Holdings NV | 5482 | 663322 |
|  AIB Group plc | 65164 | 590242 |
|  Bank of Ireland Group plc | 30644 | 504226 |
|  Kerry Group plc, Class A | 28130 | 2534748 |
|  Kingspan Group plc | 9161 | 761487 |
|  |  | 5054025 |
|  **Israel (0.7%)** |  |  |
|  Azrieli Group Ltd. | 1541 | 152928 |
|  Bank Hapoalim BM | 39144 | 795596 |
|  Bank Leumi Le-Israel BM | 46724 | 921022 |
|  Check Point Software Technologies Ltd.\* | 13534 | 2800320 |
|  Elbit Systems Ltd. | 831 | 420744 |
|  ICL Group Ltd. | 24296 | 151841 |
|  Israel Discount Bank Ltd., Class A | 38336 | 378939 |
|  Mizrahi Tefahot Bank Ltd. | 4730 | 311173 |
|  Nice Ltd.\* | 1955 | 288038 |
|  Nova Ltd.\* | 910 | 288342 |
|  Phoenix Financial Ltd. | 7020 | 262810 |
|  Teva Pharmaceutical Industries Ltd. (ADR)\* | 36521 | 737724 |
|  Wix.com Ltd.\* | 1756 | 311918 |
|  |  | 7821395 |
|  **Italy (2.4%)** |  |  |
|  Banca Mediolanum SpA | 6911 | 138341 |
|  Banca Monte dei Paschi di Siena SpA | 61351 | 543096 |
|  Banco BPM SpA | 35992 | 537713 |
|  BPER Banca SpA | 46291 | 512827 |
|  Coca-Cola HBC AG | 6758 | 318473 |
|  Davide Campari-Milano NV(x) | 20566 | 129661 |
|  Enel SpA | 253005 | 2395929 |
|  Eni SpA(x) | 63556 | 1109270 |
|  Ferrari NV | 3957 | 1912177 |
|  FinecoBank Banca Fineco SpA | 19000 | 410559 |
|  Generali | 26578 | 1042522 |
|  Infrastrutture Wireless Italiane SpA(m) | 7623 | 89587 |
|  Intesa Sanpaolo SpA | 442563 | 2916984 |
|  Leonardo SpA | 69995 | 4439236 |
|  Moncler SpA | 7264 | 425306 |
|  Nexi SpA(m)(x) | 17287 | 97745 |
|  Poste Italiane SpA(m) | 13693 | 324580 |
|  Prysmian SpA | 40479 | 4000602 |
|  Recordati Industria Chimica e Farmaceutica SpA | 3362 | 204068 |
|  Ryanair Holdings plc | 26928 | 780886 |
|  Snam SpA | 62578 | 376018 |
|  Telecom Italia SpA\* | 347002 | 181414 |
|  Terna - Rete Elettrica Nazionale | 43752 | 443709 |
|  UniCredit SpA | 70786 | 5357863 |
|  Unipol Assicurazioni SpA | 10455 | 224136 |
|  |  | 28912702 |
|  **Japan (15.1%)** |  |  |
|  Advantest Corp.(x) | 23800 | 2357710 |
|  Aeon Co. Ltd. | 67956 | 824837 |
|  AGC, Inc. | 6250 | 203917 |
|  Aisin Corp. | 15514 | 268559 |
|  Ajinomoto Co., Inc. | 28436 | 816440 |
|  ANA Holdings, Inc. | 4630 | 89572 |
|  Asahi Group Holdings Ltd. | 44961 | 539800 |
|  Asahi Kasei Corp. | 38678 | 304565 |
|  Asics Corp. | 20100 | 526268 |
|  Astellas Pharma, Inc.(x) | 56250 | 608771 |
|  Bandai Namco Holdings, Inc. | 18457 | 614672 |
|  Bridgestone Corp. | 17764 | 822584 |
|  Canon, Inc.(x) | 26930 | 789772 |
|  Capcom Co. Ltd. | 10800 | 293799 |
|  Central Japan Railway Co. | 24000 | 688589 |
|  Chiba Bank Ltd. (The)(x) | 17672 | 185760 |
|  Chubu Electric Power Co., Inc. | 19354 | 269400 |
|  Chugai Pharmaceutical Co. Ltd. | 20641 | 899977 |
|  Dai Nippon Printing Co. Ltd. | 12962 | 220482 |
|  Daifuku Co. Ltd. | 9600 | 307893 |
|  Dai-ichi Life Holdings, Inc. | 111300 | 877545 |
|  Daiichi Sankyo Co. Ltd. | 107261 | 2404370 |
|  Daikin Industries Ltd. | 8223 | 949717 |
|  Daito Trust Construction Co. Ltd.(x) | 8690 | 190682 |
|  Daiwa House Industry Co. Ltd. | 17458 | 628032 |
|  Daiwa Securities Group, Inc. | 41476 | 337255 |
|  Denso Corp. | 161848 | 2337130 |
|  Disco Corp. | 6100 | 1918457 |
|  East Japan Railway Co. | 28175 | 689681 |
|  Eisai Co. Ltd.(x) | 8154 | 274309 |
|  ENEOS Holdings, Inc. | 84838 | 539198 |
|  FANUC Corp. | 29520 | 850757 |
|  Fast Retailing Co. Ltd. | 5948 | 1811529 |
|  Fuji Electric Co. Ltd. | 4057 | 272799 |
|  FUJIFILM Holdings Corp. | 34804 | 866305 |
|  Fujikura Ltd. | 7800 | 762410 |
|  Fujitsu Ltd. | 54740 | 1289611 |
|  Hankyu Hanshin Holdings, Inc.(x) | 6500 | 191811 |
|  Hikari Tsushin, Inc. | 600 | 167481 |
|  Hitachi Ltd. | 503910 | 13391259 |
|  Honda Motor Co. Ltd.(x) | 123012 | 1273499 |
|  Hoya Corp. | 25702 | 3558498 |
|  Hulic Co. Ltd. | 13300 | 145694 |
|  Idemitsu Kosan Co. Ltd.(x) | 27175 | 186698 |

---

See Notes to Portfolio of Investments.

536

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  IHI Corp. | 108500 | $2024952 |
|  Inpex Corp. | 27300 | 493444 |
|  Isuzu Motors Ltd. | 16869 | 213251 |
|  ITOCHU Corp. | 36732 | 2092868 |
|  Japan Airlines Co. Ltd. | 3858 | 77820 |
|  Japan Exchange Group, Inc. | 30900 | 345283 |
|  Japan Post Bank Co. Ltd. | 56300 | 690782 |
|  Japan Post Holdings Co. Ltd. | 56500 | 561619 |
|  Japan Post Insurance Co. Ltd. | 6200 | 175789 |
|  Japan Tobacco, Inc. | 37300 | 1226308 |
|  JFE Holdings, Inc.(x) | 18676 | 229401 |
|  Kajima Corp. | 12369 | 360987 |
|  Kansai Electric Power Co., Inc. (The) | 29323 | 420061 |
|  Kao Corp. | 14467 | 631076 |
|  Kawasaki Heavy Industries Ltd.(x) | 23700 | 1565737 |
|  Kawasaki Kisen Kaisha Ltd.(x) | 10600 | 150952 |
|  KDDI Corp. | 96100 | 1533922 |
|  Keyence Corp. | 12332 | 4601412 |
|  Kikkoman Corp.(x) | 22415 | 190221 |
|  Kirin Holdings Co. Ltd. | 23991 | 351628 |
|  Kobe Bussan Co. Ltd. | 5100 | 140152 |
|  Komatsu Ltd. | 28072 | 979488 |
|  Konami Group Corp. | 3088 | 445811 |
|  Kubota Corp. | 31508 | 396926 |
|  Kyocera Corp. | 39932 | 537206 |
|  Kyowa Kirin Co. Ltd. | 7067 | 109839 |
|  Lasertec Corp. | 2300 | 315796 |
|  LY Corp. | 269800 | 868592 |
|  M3, Inc.(x) | 13300 | 214584 |
|  Makita Corp. | 7492 | 243477 |
|  Marubeni Corp. | 43868 | 1096960 |
|  MatsukiyoCocokara & Co. | 10600 | 215319 |
|  Meiji Holdings Co. Ltd.(x) | 7464 | 154746 |
|  Minebea Mitsumi, Inc. | 11800 | 222579 |
|  Mitsubishi Chemical Group Corp. | 40759 | 234629 |
|  Mitsubishi Corp. | 99952 | 2386520 |
|  Mitsubishi Electric Corp. | 59171 | 1521637 |
|  Mitsubishi Estate Co. Ltd. | 133611 | 3074539 |
|  Mitsubishi HC Capital, Inc. | 29400 | 243037 |
|  Mitsubishi Heavy Industries Ltd. | 99650 | 2613804 |
|  Mitsubishi UFJ Financial Group, Inc. | 472816 | 7654066 |
|  Mitsui & Co. Ltd. | 76808 | 1911306 |
|  Mitsui Fudosan Co. Ltd. | 82181 | 896358 |
|  Mitsui OSK Lines Ltd.(x) | 10700 | 325157 |
|  Mizuho Financial Group, Inc. | 78104 | 2634363 |
|  MonotaRO Co. Ltd. | 8000 | 116631 |
|  MS&AD Insurance Group Holdings, Inc. | 40008 | 907914 |
|  Murata Manufacturing Co. Ltd. | 138839 | 2643278 |
|  NEC Corp. | 105570 | 3383009 |
|  Nexon Co. Ltd. | 9800 | 215171 |
|  Nidec Corp. | 25968 | 462432 |
|  Nintendo Co. Ltd. | 34290 | 2969087 |
|  Nippon Building Fund, Inc. (REIT) | 249 | 234882 |
|  Nippon Paint Holdings Co. Ltd.(x) | 28600 | 195327 |
|  Nippon Sanso Holdings Corp. | 65000 | 2306218 |
|  Nippon Steel Corp.(x) | 150145 | 618814 |
|  Nippon Yusen KK(x) | 13632 | 465600 |
|  Nissan Motor Co. Ltd.\* | 68447 | 168381 |
|  Nissin Foods Holdings Co. Ltd.(x) | 6618 | 124676 |
|  Nitori Holdings Co. Ltd.(x) | 12250 | 236369 |
|  Nitto Denko Corp.(x) | 21955 | 522134 |
|  Nomura Holdings, Inc. | 93508 | 686364 |
|  Nomura Research Institute Ltd. | 47777 | 1832768 |
|  NTT, Inc. | 928800 | 971602 |
|  Obayashi Corp. | 20166 | 331225 |
|  Obic Co. Ltd. | 41800 | 1456789 |
|  Olympus Corp. | 34808 | 440381 |
|  Oracle Corp. | 7940 | 810725 |
|  Oriental Land Co. Ltd.(x) | 33520 | 808506 |
|  ORIX Corp. | 36210 | 950517 |
|  Osaka Gas Co. Ltd. | 11073 | 321142 |
|  Otsuka Corp. | 6868 | 143411 |
|  Otsuka Holdings Co. Ltd. | 13700 | 728054 |
|  Pan Pacific International Holdings Corp. | 173500 | 1143879 |
|  Panasonic Holdings Corp. | 71986 | 783700 |
|  Rakuten Group, Inc.\* | 46400 | 301176 |
|  Recruit Holdings Co. Ltd. | 41300 | 2223835 |
|  Renesas Electronics Corp. | 52400 | 604486 |
|  Resona Holdings, Inc. | 65359 | 667578 |
|  Resonac Holdings Corp. | 27000 | 916706 |
|  Ryohin Keikaku Co. Ltd. | 15800 | 314643 |
|  Sanrio Co. Ltd.(x) | 5700 | 267916 |
|  SBI Holdings, Inc. | 8860 | 385590 |
|  SCREEN Holdings Co. Ltd.(x) | 2500 | 227542 |
|  SCSK Corp. | 4800 | 143755 |
|  Secom Co. Ltd. | 13054 | 478872 |
|  Sekisui Chemical Co. Ltd. | 11714 | 218224 |
|  Sekisui House Ltd. | 18570 | 422796 |
|  Seven & i Holdings Co. Ltd. | 64736 | 871551 |
|  SG Holdings Co. Ltd.(x) | 10900 | 112696 |
|  Shimadzu Corp. | 6840 | 172752 |
|  Shimano, Inc. | 2336 | 262215 |
|  Shin-Etsu Chemical Co. Ltd. | 52420 | 1720217 |
|  Shionogi & Co. Ltd. | 23421 | 410424 |
|  Shiseido Co. Ltd. | 11922 | 203718 |
|  SMC Corp. | 1748 | 536982 |
|  SoftBank Corp. | 890500 | 1310896 |
|  SoftBank Group Corp. | 29744 | 3758100 |
|  Sompo Holdings, Inc. | 27581 | 853251 |
|  Sony Financial Group, Inc.\* | 255420 | 283253 |
|  Sony Group Corp. | 255420 | 7355944 |
|  Subaru Corp. | 18280 | 374537 |
|  Sugi Holdings Co. Ltd. | 23100 | 557018 |
|  SUMCO Corp.(x) | 201200 | 2145535 |
|  Sumitomo Corp. | 33928 | 983759 |
|  Sumitomo Electric Industries Ltd. | 22260 | 634903 |
|  Sumitomo Metal Mining Co. Ltd.(x) | 8191 | 264033 |
|  Sumitomo Mitsui Financial Group, Inc. | 163656 | 4621344 |
|  Sumitomo Mitsui Trust Group, Inc. | 54366 | 1580413 |
|  Sumitomo Realty & Development Co. Ltd.(x) | 9526 | 420758 |
|  Suntory Beverage & Food Ltd. | 4500 | 140734 |
|  Suzuki Motor Corp. | 118144 | 1726004 |
|  Sysmex Corp. | 15700 | 193695 |
|  T&D Holdings, Inc. | 15268 | 373944 |
|  Taisei Corp. | 4636 | 318816 |
|  Takeda Pharmaceutical Co. Ltd. | 49477 | 1443644 |
|  TDK Corp. | 60465 | 878446 |
|  Terumo Corp. | 89700 | 1481807 |
|  TIS, Inc. | 7000 | 231180 |
|  Toho Co. Ltd. | 3246 | 208520 |
|  Tokio Marine Holdings, Inc. | 57145 | 2422436 |
|  Tokyo Electron Ltd. | 13808 | 2461229 |
|  Tokyo Gas Co. Ltd. | 10242 | 364566 |
|  Tokyo Metro Co. Ltd.(x) | 9900 | 113436 |
|  Tokyu Corp.(x) | 16605 | 202559 |
|  TOPPAN Holdings, Inc. | 7455 | 191309 |
|  Toray Industries, Inc. | 42474 | 271499 |
|  Toyota Industries Corp. | 5018 | 564625 |
|  Toyota Motor Corp. | 329950 | 6357592 |
|  Toyota Tsusho Corp. | 19842 | 550373 |

---

See Notes to Portfolio of Investments.

537

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Trend Micro, Inc. | 3882 | $212626 |
|  Unicharm Corp. | 34746 | 225414 |
|  West Japan Railway Co.(x) | 13100 | 287273 |
|  Yakult Honsha Co. Ltd.(x) | 8014 | 130681 |
|  Yamaha Motor Co. Ltd.(x) | 28696 | 215387 |
|  Yokogawa Electric Corp. | 7703 | 221633 |
|  Yokohama Financial Group, Inc. | 30900 | 237572 |
|  Zensho Holdings Co. Ltd. | 3000 | 196207 |
|  ZOZO, Inc.(x) | 12600 | 115874 |
|  |  | 180847983 |
|  **Luxembourg (0.3%)** |  |  |
|  ArcelorMittal SA | 14552 | 522453 |
|  CVC Capital Partners plc(m) | 37900 | 659438 |
|  Eurofins Scientific SE | 27239 | 1975721 |
|  |  | 3157612 |
|  **Macau (0.1%)** |  |  |
|  Galaxy Entertainment Group Ltd. | 66000 | 363672 |
|  Sands China Ltd. | 295600 | 824282 |
|  |  | 1187954 |
|  **Mexico (0.3%)** |  |  |
|  Fresnillo plc | 6869 | 218020 |
|  Grupo Financiero Banorte SAB de CV, Class O | 312253 | 3136085 |
|  |  | 3354105 |
|  **Netherlands (3.4%)** |  |  |
|  ABN AMRO Bank NV (CVA)(m) | 18119 | 579679 |
|  Adyen NV(m)\* | 781 | 1251614 |
|  Aegon Ltd. | 41116 | 329796 |
|  Akzo Nobel NV | 13879 | 987455 |
|  Argenx SE\* | 1883 | 1364466 |
|  Argenx SE (ADR)\* | 2250 | 1659510 |
|  ASM International NV | 2712 | 1626399 |
|  ASML Holding NV | 18385 | 17874463 |
|  ASR Nederland NV | 4507 | 305740 |
|  BE Semiconductor Industries NV | 2269 | 337918 |
|  Euronext NV(m) | 2421 | 362119 |
|  EXOR NV | 2749 | 268525 |
|  Heineken Holding NV | 4030 | 276078 |
|  Heineken NV | 70511 | 5498476 |
|  IMCD NV | 1938 | 200227 |
|  ING Groep NV | 93887 | 2433284 |
|  JDE Peet's NV | 5446 | 199489 |
|  Koninklijke Ahold Delhaize NV | 28660 | 1159183 |
|  Koninklijke KPN NV | 120984 | 580523 |
|  Koninklijke Philips NV | 23936 | 647471 |
|  NN Group NV | 8368 | 588484 |
|  Randstad NV | 3640 | 154574 |
|  Universal Music Group NV | 34847 | 1004802 |
|  Wolters Kluwer NV | 7389 | 1007608 |
|  |  | 40697883 |
|  **New Zealand (0.1%)** |  |  |
|  Auckland International Airport Ltd. | 47429 | 216676 |
|  Contact Energy Ltd. | 24813 | 130907 |
|  Fisher & Paykel Healthcare Corp. Ltd. | 18227 | 391511 |
|  Infratil Ltd. | 31331 | 224327 |
|  Meridian Energy Ltd. | 38837 | 125413 |
|  Xero Ltd.\* | 5090 | 530468 |
|  |  | 1619302 |
|  **Norway (0.7%)** |  |  |
|  Aker BP ASA | 9741 | 247050 |
|  DNB Bank ASA | 105223 | 2862659 |
|  Equinor ASA | 23834 | 581308 |
|  Equinor ASA (ADR) | 59161 | 1442345 |
|  Gjensidige Forsikring ASA | 6399 | 187618 |
|  Kongsberg Gruppen ASA | 13566 | 433574 |
|  Mowi ASA | 14472 | 305695 |
|  Norsk Hydro ASA | 281370 | 1905959 |
|  Orkla ASA | 21798 | 227601 |
|  Salmar ASA | 1943 | 103774 |
|  Telenor ASA | 19086 | 316329 |
|  |  | 8613912 |
|  **Peru (0.1%)** |  |  |
|  Credicorp Ltd. | 5661 | 1507411 |
|  **Poland (0.0%)†** |  |  |
|  InPost SA\* | 7286 | 89391 |
|  **Portugal (0.2%)** |  |  |
|  Banco Comercial Portugues SA, Class R | 258296 | 228410 |
|  EDP SA | 98110 | 465006 |
|  Galp Energia SGPS SA | 55088 | 1041285 |
|  Jeronimo Martins SGPS SA | 9360 | 227474 |
|  |  | 1962175 |
|  **Singapore (1.3%)** |  |  |
|  CapitaLand Ascendas REIT (REIT) | 116312 | 251568 |
|  CapitaLand Integrated Commercial Trust (REIT) | 181537 | 322276 |
|  CapitaLand Investment Ltd. | 76002 | 158491 |
|  DBS Group Holdings Ltd. | 175226 | 6948184 |
|  Genting Singapore Ltd. | 171338 | 97627 |
|  Grab Holdings Ltd., Class A\* | 76330 | 459507 |
|  Keppel Ltd. | 47385 | 327667 |
|  Oversea-Chinese Banking Corp. Ltd. | 105352 | 1342678 |
|  Sea Ltd. (ADR)\* | 11900 | 2126887 |
|  Sembcorp Industries Ltd. | 27800 | 129738 |
|  Singapore Airlines Ltd. | 46305 | 234047 |
|  Singapore Exchange Ltd. | 26002 | 333201 |
|  Singapore Technologies Engineering Ltd. | 93519 | 624209 |
|  Singapore Telecommunications Ltd. | 231019 | 739648 |
|  STMicroelectronics NV | 21054 | 589535 |
|  United Overseas Bank Ltd. | 39321 | 1054087 |
|  |  | 15739350 |
|  **South Africa (0.2%)** |  |  |
|  Anglo American plc | 71418 | 2674994 |
|  **South Korea (0.5%)** |  |  |
|  Amorepacific Corp. | 6289 | 548195 |
|  Delivery Hero SE(m)\* | 6209 | 177941 |
|  NAVER Corp. | 5038 | 964116 |
|  Samsung Electronics Co. Ltd. | 64151 | 3836120 |
|  |  | 5526372 |
|  **Spain (2.3%)** |  |  |
|  Acciona SA | 730 | 146471 |
|  ACS Actividades de Construccion y Servicios SA | 5650 | 451070 |
|  Aena SME SA(m) | 23330 | 637379 |
|  Amadeus IT Group SA | 73390 | 5816038 |
|  Banco Bilbao Vizcaya Argentaria SA | 179279 | 3439284 |
|  Banco de Sabadell SA | 156102 | 604796 |
|  Banco Santander SA | 677718 | 7060818 |
|  Bankinter SA | 21352 | 336041 |
|  CaixaBank SA | 119797 | 1258234 |
|  Cellnex Telecom SA(m) | 15663 | 542296 |
|  EDP Renovaveis SA | 10538 | 138568 |
|  Endesa SA | 10185 | 325369 |
|  Grifols SA | 8450 | 122273 |
|  Iberdrola SA | 197442 | 3733248 |
|  Industria de Diseno Textil SA | 33630 | 1854531 |
|  Redeia Corp. SA | 12183 | 235149 |
|  Repsol SA | 36003 | 636787 |
|  Telefonica SA(x) | 116732 | 602743 |
|  |  | 27941095 |

---

See Notes to Portfolio of Investments.

538

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  **Sweden (1.8%)** |  |  |
|  AddTech AB, Class B | 8082 | $262006 |
|  Alfa Laval AB | 8997 | 409406 |
|  Assa Abloy AB, Class B | 95717 | 3320570 |
|  Atlas Copco AB, Class A | 120000 | 2025408 |
|  Atlas Copco AB, Class B | 48593 | 727522 |
|  Beijer Ref AB, Class B | 11587 | 180493 |
|  Boliden AB\* | 8505 | 345732 |
|  Epiroc AB, Class A | 20493 | 431872 |
|  Epiroc AB, Class B(x) | 11855 | 223389 |
|  EQT AB | 11578 | 400429 |
|  Essity AB, Class B | 18738 | 489229 |
|  Evolution AB(m) | 4697 | 385862 |
|  Fastighets AB Balder, Class B\* | 21823 | 156097 |
|  H & M Hennes & Mauritz AB, Class B(x) | 18421 | 342909 |
|  Hexagon AB, Class B | 64561 | 767375 |
|  Holmen AB, Class B | 2559 | 97148 |
|  Industrivarden AB, Class A | 3925 | 155593 |
|  Industrivarden AB, Class C(x) | 5076 | 201058 |
|  Indutrade AB | 8171 | 187298 |
|  Investment AB Latour, Class B | 5060 | 119803 |
|  Investor AB, Class B | 54193 | 1692668 |
|  L E Lundbergforetagen AB, Class B | 2399 | 124455 |
|  Lifco AB, Class B | 7076 | 238863 |
|  Nibe Industrier AB, Class B | 47126 | 185413 |
|  Saab AB, Class B(x) | 9964 | 608039 |
|  Sagax AB, Class B | 6735 | 140432 |
|  Sandvik AB | 33167 | 922323 |
|  Securitas AB, Class B | 14744 | 221761 |
|  Skandinaviska Enskilda Banken AB, Class A | 47041 | 918894 |
|  Skanska AB, Class B | 10398 | 269382 |
|  SKF AB, Class B | 10187 | 252338 |
|  Svenska Cellulosa AB SCA, Class B | 18866 | 249191 |
|  Svenska Handelsbanken AB, Class A | 45223 | 587961 |
|  Swedbank AB, Class A | 26410 | 794455 |
|  Swedish Orphan Biovitrum AB\* | 5890 | 179433 |
|  Tele2 AB, Class B | 16425 | 280106 |
|  Telefonaktiebolaget LM Ericsson, Class B(x) | 85914 | 710353 |
|  Telia Co. AB | 76026 | 289830 |
|  Trelleborg AB, Class B | 6266 | 233284 |
|  Volvo AB, Class B | 49413 | 1414514 |
|  |  | 21542894 |
|  **Switzerland (3.2%)** |  |  |
|  ABB Ltd. (Registered) | 49197 | 3542456 |
|  Avolta AG | 2595 | 140369 |
|  Baloise Holding AG (Registered) | 1279 | 315553 |
|  Banque Cantonale Vaudoise (Registered) | 1022 | 120552 |
|  Barry Callebaut AG (Registered)(x) | 101 | 138295 |
|  Belimo Holding AG (Registered) | 306 | 319627 |
|  BKW AG | 600 | 128057 |
|  Chocoladefabriken Lindt & Spruengli AG | 31 | 473538 |
|  Chocoladefabriken Lindt & Spruengli AG (Registered) | 3 | 450725 |
|  Cie Financiere Richemont SA (Registered) | 22238 | 4235011 |
|  DSM-Firmenich AG | 14516 | 1235923 |
|  EMS-Chemie Holding AG (Registered) | 209 | 147682 |
|  Galderma Group AG | 4143 | 719775 |
|  Geberit AG (Registered) | 1040 | 780212 |
|  Givaudan SA (Registered) | 286 | 1161173 |
|  Helvetia Holding AG (Registered) | 1131 | 276623 |
|  Julius Baer Group Ltd. | 27092 | 1870456 |
|  Kuehne + Nagel International AG (Registered)(x) | 1502 | 279532 |
|  Logitech International SA (Registered) | 4730 | 515633 |
|  Lonza Group AG (Registered) | 5677 | 3759707 |
|  Partners Group Holding AG | 728 | 945152 |
|  Sandoz Group AG | 12998 | 770197 |
|  Schindler Holding AG | 1266 | 479014 |
|  Schindler Holding AG (Registered) | 730 | 262728 |
|  SGS SA (Registered) | 4714 | 488425 |
|  SIG Group AG | 8965 | 92404 |
|  Sika AG (Registered) | 11899 | 2647212 |
|  Sonova Holding AG (Registered) | 4127 | 1122930 |
|  Straumann Holding AG (Registered) | 3471 | 370188 |
|  Swatch Group AG (The)(x) | 932 | 174973 |
|  Swiss Life Holding AG (Registered) | 893 | 959803 |
|  Swiss Prime Site AG (Registered) | 2404 | 336116 |
|  Swisscom AG (Registered) | 806 | 584718 |
|  UBS Group AG (Registered) | 132977 | 5430667 |
|  VAT Group AG(m) | 811 | 320305 |
|  Zurich Insurance Group AG | 4553 | 3240663 |
|  |  | 38836394 |
|  **Taiwan (1.8%)** |  |  |
|  ASE Technology Holding Co. Ltd. | 356000 | 1915611 |
|  Delta Electronics, Inc. | 85000 | 2381718 |
|  Hon Hai Precision Industry Co. Ltd. | 214040 | 1516919 |
|  MediaTek, Inc. | 58000 | 2502461 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. | 299000 | 12802513 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. (ADR) | 3817 | 1066050 |
|  |  | 22185272 |
|  **Thailand (0.0%)†** |  |  |
|  Kasikornbank PCL | 83800 | 431865 |
|  **United Kingdom (10.2%)** |  |  |
|  3i Group plc | 30280 | 1665187 |
|  Admiral Group plc | 8096 | 364976 |
|  Ashtead Group plc | 26832 | 1791688 |
|  Associated British Foods plc | 9933 | 273991 |
|  AstraZeneca plc | 88135 | 13254333 |
|  Auto Trader Group plc(m) | 26505 | 280966 |
|  Aviva plc | 268960 | 2480705 |
|  BAE Systems plc | 216174 | 5986180 |
|  Barclays plc | 1433442 | 7318066 |
|  Barratt Redrow plc | 265680 | 1393164 |
|  British American Tobacco plc | 64774 | 3438411 |
|  BT Group plc | 189215 | 486430 |
|  Bunzl plc | 10284 | 324474 |
|  Burberry Group plc\* | 23150 | 363650 |
|  Centrica plc | 157895 | 353780 |
|  CK Hutchison Holdings Ltd. | 83205 | 547968 |
|  Coca-Cola Europacific Partners plc | 6761 | 611262 |
|  Compass Group plc | 86019 | 2925723 |
|  DCC plc(x) | 3077 | 197478 |
|  Diageo plc | 208124 | 4969731 |
|  Entain plc | 184687 | 2170393 |
|  Flutter Entertainment plc, Class DI\* | 6071 | 1542034 |
|  Halma plc | 39385 | 1827427 |
|  Hikma Pharmaceuticals plc | 4829 | 110277 |
|  HSBC Holdings plc | 711138 | 9994479 |
|  Imperial Brands plc | 56926 | 2417758 |
|  Informa plc | 41365 | 510477 |
|  InterContinental Hotels Group plc | 4612 | 556628 |
|  International Consolidated Airlines Group SA | 38662 | 201173 |
|  Intertek Group plc | 30308 | 1924745 |

---

See Notes to Portfolio of Investments.

539

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  J Sainsbury plc | 54663 | $245544 |
|  JD Sports Fashion plc | 73390 | 94063 |
|  Kingfisher plc | 56380 | 234073 |
|  Land Securities Group plc (REIT) | 23701 | 185515 |
|  Legal & General Group plc | 183254 | 586571 |
|  Lloyds Banking Group plc | 1871007 | 2109177 |
|  London Stock Exchange Group plc | 20946 | 2398981 |
|  M&G plc | 69736 | 237284 |
|  Marks & Spencer Group plc | 63794 | 312728 |
|  Melrose Industries plc | 577987 | 4732414 |
|  National Grid plc | 224634 | 3225027 |
|  NatWest Group plc | 393550 | 2760753 |
|  Next plc | 3662 | 609472 |
|  Pearson plc | 18333 | 260491 |
|  Phoenix Group Holdings plc | 20132 | 174231 |
|  Reckitt Benckiser Group plc | 46547 | 3579529 |
|  RELX plc (London Stock Exchange) | 78878 | 3773373 |
|  RELX plc (Turquoise Stock Exchange) | 47010 | 2250734 |
|  Rentokil Initial plc | 425858 | 2152344 |
|  Rolls-Royce Holdings plc | 428999 | 6865833 |
|  Sage Group plc (The) | 31105 | 460164 |
|  Schroders plc | 21042 | 106406 |
|  Segro plc (REIT) | 39289 | 346312 |
|  Severn Trent plc | 8036 | 279701 |
|  Smith & Nephew plc | 25830 | 464631 |
|  Smiths Group plc | 10431 | 329954 |
|  Spirax Group plc | 2213 | 202832 |
|  SSE plc | 141219 | 3307551 |
|  Standard Chartered plc | 115538 | 2230581 |
|  Tesco plc | 203994 | 1222236 |
|  Unilever plc | 76183 | 4508175 |
|  United Utilities Group plc | 21204 | 326950 |
|  Vodafone Group plc | 605061 | 701124 |
|  Whitbread plc | 5220 | 226056 |
|  Wise plc, Class A\* | 19702 | 274246 |
|  WPP plc | 33546 | 165937 |
|  |  | 122224547 |
|  **United States (8.1%)** |  |  |
|  Alcon AG | 27211 | 2025656 |
|  Amrize Ltd.\* | 15853 | 764521 |
|  BP plc | 492835 | 2821930 |
|  Carnival Corp.\* | 74997 | 2168163 |
|  CRH plc | 9635 | 1151199 |
|  CSL Ltd. | 15062 | 1975365 |
|  CyberArk Software Ltd.\* | 1463 | 706848 |
|  Everest Group Ltd. | 3977 | 1392865 |
|  Experian plc | 59699 | 2988363 |
|  Ferrovial SE | 15326 | 877722 |
|  GSK plc | 126537 | 2679478 |
|  Haleon plc | 426032 | 1904554 |
|  Holcim AG | 15852 | 1340963 |
|  ICON plc\* | 12580 | 2201500 |
|  James Hardie Industries plc (CHDI)\* | 55332 | 1028098 |
|  Linde plc | 5825 | 2766875 |
|  Monday.com Ltd.\* | 1163 | 225261 |
|  Nestle SA (Registered) | 116256 | 10671222 |
|  Nestle SA (ADR) | 9457 | 867869 |
|  Novartis AG (Registered) | 59140 | 7438097 |
|  Novartis AG (ADR) | 13522 | 1734061 |
|  QIAGEN NV | 31245 | 1382773 |
|  Roche Holding AG (BMV Mexico Stock Exchange) | 35872 | 11711743 |
|  Roche Holding AG (OTC US Exchange) | 1005 | 343648 |
|  Sanofi SA | 47821 | 4410130 |
|  Schneider Electric SE | 40577 | 11319128 |
|  Shell plc (BMV Mexico Stock Exchange) | 108130 | 3867532 |
|  Shell plc (London Stock Exchange) | 183100 | 6517038 |
|  Smurfit WestRock plc | 36231 | 1518336 |
|  Spotify Technology SA\* | 4733 | 3303634 |
|  Stellantis NV | 63039 | 582022 |
|  Swiss Re AG | 9220 | 1703161 |
|  Tenaris SA | 39507 | 704561 |
|  |  | 97094316 |
|  **Total Common Stocks (80.8%)**<br> *(Cost $503,462,099)* |  | 969902372 |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (9.2%)** |  |  |
|  iShares China Large-Cap ETF(x) | 149510 | 6150841 |
|  iShares Core MSCI EAFE ETF | 255900 | 22342629 |
|  iShares Latin America 40 ETF(x) | 44047 | 1272518 |
|  iShares MSCI Australia ETF | 61615 | 1663605 |
|  iShares MSCI Austria ETF(x) | 38537 | 1194262 |
|  iShares MSCI Belgium ETF‡ | 65797 | 1528241 |
|  iShares MSCI France ETF(x) | 46167 | 2028116 |
|  iShares MSCI Germany ETF(x) | 143510 | 5971451 |
|  iShares MSCI Indonesia ETF(x) | 27900 | 489645 |
|  iShares MSCI Ireland ETF | 18500 | 1248186 |
|  iShares MSCI Israel ETF | 13800 | 1384140 |
|  iShares MSCI Italy ETF(x) | 88824 | 4614407 |
|  iShares MSCI Mexico ETF(x) | 4548 | 310219 |
|  iShares MSCI New Zealand ETF(x) | 15400 | 707374 |
|  iShares MSCI Norway ETF | 30300 | 864762 |
|  iShares MSCI Poland ETF | 6400 | 206080 |
|  iShares MSCI Singapore ETF(x) | 22863 | 647937 |
|  iShares MSCI Spain ETF(x) | 60221 | 2980940 |
|  JPMorgan BetaBuilders Japan ETF | 6550 | 434396 |
|  JPMorgan International Research Enhanced Equity ETF | 89900 | 6611246 |
|  SPDR Portfolio Developed World ex- US ETF | 133400 | 5708186 |
|  SPDR S&P Emerging Asia Pacific ETF | 5079 | 706067 |
|  Vanguard FTSE Developed Markets ETF | 154100 | 9233672 |
|  Vanguard FTSE Emerging Markets ETF | 92200 | 4995396 |
|  Vanguard FTSE Europe ETF | 279900 | 22336020 |
|  Vanguard FTSE Pacific ETF | 48100 | 4225104 |
|  **Total Exchange Traded Funds (9.2%)<br>(***Cost $70,346,613)* |  | 109855440 |
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Belgium (0.0%)†** |  |  |
|  Sofina SA, expiring 10/2/25(x)\* | 316 | 705 |
|  **Denmark (0.0%)†** |  |  |
|  Orsted A/S, expiring 10/2/25(x)\* | 76560 | 76222 |
|  **Total Rights (0.0%)†<br>(***Cost $81,729***)** |  | 76927 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (2.1%)** |  |  |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 2000000 | 2000000 |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 5000000 | 5000000 |

---

See Notes to Portfolio of Investments.

540

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Goldman Sachs Financial Square Government Fund 4.03% (7 day yield) (xx) | 1000000 | $1000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 16771548 | 16771548 |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 1000000 | 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 25771548 |
|  **Total Short-Term Investments (2.1%)**<br> *(Cost $25,771,548)* |  | 25771548 |
|  **Total Investments in Securities (92.1%)**<br> *(Cost $599,661,989)* |  | 1105606287 |
|  **Other Assets Less Liabilities (7.9%)** |  | 95276707 |
|  **Net Assets (100%)** |  | $1200882994 |

---

See Notes to Portfolio of Investments.

541

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $11,528,937 or 1.0% of net assets.* 

*(q)* *Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $35,967,834. This was collateralized by $11,648,544 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.000%, maturing 10/9/25 – 5/15/55 and by cash of $25,771,548 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*AUD — Australian Dollar* 

*CHDI — Clearing House Electronic Subregister System (CHESS) Depository Interest* 

*CVA — Dutch Certification* 

*EUR — European Currency Unit* 

*GBP — British Pound* 

*JPY — Japanese Yen* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

---

| | | |
|:---|:---|:---|
| **Sector Weightings**<br> **as of September 30, 2025** | **Market**<br>**Value** | **% of<br>Net Assets** |
|  Financials | $215537663 | 17.9% |
|  Industrials | 192708350 | 16.0 |
|  Information Technology | 112675494 | 9.4 |
|  Exchange Traded Funds | 109855440 | 9.2 |
|  Health Care | 104862430 | 8.7 |
|  Consumer Discretionary | 102689207 | 8.6 |
|  Consumer Staples | 67867994 | 5.7 |
|  Materials | 66049176 | 5.5 |
|  Communication Services | 39716589 | 3.3 |
|  Energy | 28043097 | 2.3 |
|  Utilities | 25993166 | 2.2 |
|  Investment Companies | 25771548 | 2.1 |
|  Real Estate | 13836133 | 1.2 |
|  Cash and Other | 95276707 | 7.9 |
|  |  | 100.0% |

---

See Notes to Portfolio of Investments.

542

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds**<br>**from<br>Sales ($)** | **Net**<br>**Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation) ($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  iShares MSCI Belgium ETF | 65797 | 1376805 | 52395 | (256134) | 42259 | 312916 | 1528241 | 19073 |  |
|  **Total** |  | **1376805** | **52395** | **(256134)** | **42259** | **312916** | **1528241** | **19073** |  |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  EURO STOXX 50 Index | 698 | 12/2025 | EUR | 45407769 | 846912 |
|  FTSE 100 Index | 225 | 12/2025 | GBP | 28467330 | 206891 |
|  SPI 200 Index | 78 | 12/2025 | AUD | 11448965 | (15170) |
|  TOPIX Index | 132 | 12/2025 | JPY | 28036109 | 343499 |
|  |  |  |  |  | 1382132 |

---

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  EUR | 607834 | USD | 716238 | BNP Paribas | 12/19/2025 | 663 |
|  **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | 663 |
|  AUD | 16379798 | USD | 10903540 | BNP Paribas | 12/19/2025 | (54941) |
|  GBP | 6941237 | USD | 9412984 | BNP Paribas | 12/19/2025 | (76901) |
|  JPY | 977153520 | USD | 6702516 | BNP Paribas | 12/19/2025 | (40555) |
|  USD | 16857241 | EUR | 14295351 | BNP Paribas | 12/19/2025 | (3216) |
|  USD | 720141 | JPY | 106201540 | BNP Paribas | 12/19/2025 | (3912) |
|  **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | (179525) |
|  **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | (178862) |

---

See Notes to Portfolio of Investments.

543

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,**<br>**prepayment speeds,**<br>**credit risk, etc.)** | **Level 3**<br>**Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in**<br>**determining the fair**<br>**value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Australia | $1319936 | $45731317 | $— | $47051253 |
|  Austria |  | 5302051 |  | 5302051 |
|  Belgium |  | 9381535 |  | 9381535 |
|  Brazil | 7046896 | 202512 |  | 7249408 |
|  Canada | 12966866 |  |  | 12966866 |
|  Chile | 1402695 | 453672 |  | 1856367 |
|  China | 2446148 | 14564681 |  | 17010829 |
|  Colombia | 1992107 |  |  | 1992107 |
|  Denmark |  | 12986398 |  | 12986398 |
|  Finland |  | 7692629 |  | 7692629 |
|  France |  | 90690060 |  | 90690060 |
|  Germany |  | 91362850 |  | 91362850 |
|  Hong Kong | 2091521 | 15977042 |  | 18068563 |
|  India | 3529522 | 3738985 |  | 7268507 |
|  Ireland | 663322 | 4390703 |  | 5054025 |
|  Israel | 3849962 | 3971433 |  | 7821395 |
|  Italy |  | 28912702 |  | 28912702 |
|  Japan |  | 180847983 |  | 180847983 |
|  Luxembourg |  | 3157612 |  | 3157612 |
|  Macau |  | 1187954 |  | 1187954 |
|  Mexico | 3136085 | 218020 |  | 3354105 |
|  Netherlands | 1659510 | 39038373 |  | 40697883 |
|  New Zealand |  | 1619302 |  | 1619302 |
|  Norway | 1442345 | 7171567 |  | 8613912 |
|  Peru | 1507411 |  |  | 1507411 |
|  Poland |  | 89391 |  | 89391 |
|  Portugal |  | 1962175 |  | 1962175 |
|  Singapore | 2586394 | 13152956 |  | 15739350 |
|  South Africa |  | 2674994 |  | 2674994 |
|  South Korea |  | 5526372 |  | 5526372 |
|  Spain |  | 27941095 |  | 27941095 |
|  Sweden |  | 21542894 |  | 21542894 |
|  Switzerland |  | 38836394 |  | 38836394 |
|  Taiwan | 1066050 | 21119222 |  | 22185272 |
|  Thailand |  | 431865 |  | 431865 |
|  United Kingdom | 2153296 | 120071251 |  | 122224547 |
|  United States | 15367076 | 81727240 |  | 97094316 |
|  **Exchange Traded Funds** | 109855440 |  |  | 109855440 |
|  **Forward Currency Contracts** |  | 663 |  | 663 |
|  **Futures** | 1397302 |  |  | 1397302 |
|  **Rights** |  |  |  |  |
|  Belgium |  | 705 |  | 705 |
|  Denmark |  | 76222 |  | 76222 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 25771548 |  |  | 25771548 |
|  **Total Assets** | $**203251432** | $**903752820** | $**—** | $**1107004252** |
|  **Liabilities:** |  |  |  |  |
|  **Forward Currency Contracts** | $— | $(179525) | $— | $(179525) |
|  **Futures** | (15170) |  |  | (15170) |
|  **Total Liabilities** | $**(15170)** | $**(179525)** | $**—** | $**(194695)** |
|  **Total** | $**203236262** | $**903573295** | $**—** | $**1106809557** |

---

See Notes to Portfolio of Investments.

544

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $509608741 |
|  Aggregate gross unrealized depreciation | (33555699) |
|  Net unrealized appreciation | $476053042 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $630756515 |

---

See Notes to Portfolio of Investments.

545

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL EQUITY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Australia (9.8%)** |  |  |
|  AGL Energy Ltd. | 66242 | $387916 |
|  ALS Ltd. | 56114 | 739642 |
|  AMP Ltd. | 280098 | 307666 |
|  Ampol Ltd.(x) | 26364 | 521782 |
|  Ansell Ltd. | 16147 | 340407 |
|  ANZ Group Holdings Ltd. | 330080 | 7253527 |
|  APA Group | 144321 | 848015 |
|  ARB Corp. Ltd. | 8649 | 220681 |
|  Arena REIT (REIT) | 44452 | 114126 |
|  Aristocrat Leisure Ltd. | 68699 | 3181160 |
|  ASX Ltd. | 21496 | 833378 |
|  Atlas Arteria Ltd. | 107543 | 349402 |
|  AUB Group Ltd. | 12899 | 279359 |
|  Aurizon Holdings Ltd. | 193659 | 408780 |
|  Austal Ltd.\* | 34016 | 174215 |
|  AVZ Minerals Ltd.(r)(x)\* | 316830 |  |
|  Bank of Queensland Ltd. | 73181 | 351073 |
|  Bapcor Ltd. | 37551 | 78767 |
|  Beach Energy Ltd. | 176676 | 133858 |
|  Bega Cheese Ltd. | 30050 | 103198 |
|  Bellevue Gold Ltd.\* | 163591 | 123944 |
|  Bendigo & Adelaide Bank Ltd. | 62873 | 543752 |
|  BHP Group Ltd. | 561580 | 15804041 |
|  BlueScope Steel Ltd. | 48525 | 728553 |
|  Boss Energy Ltd.(x)\* | 45905 | 62573 |
|  Brambles Ltd. | 151237 | 2481823 |
|  Breville Group Ltd.(x) | 11147 | 221132 |
|  BWP Property Group Ltd. (REIT)(x) | 62510 | 153870 |
|  Capricorn Metals Ltd.\* | 47719 | 417746 |
|  CAR Group Ltd. | 41805 | 1017422 |
|  Catalyst Metals Ltd.\* | 27858 | 145626 |
|  Catapult Sports Ltd.\* | 27480 | 125103 |
|  Centuria Capital Group (REIT) | 91837 | 134298 |
|  Centuria Industrial REIT (REIT)(x) | 59006 | 136264 |
|  Challenger Ltd. | 61194 | 350661 |
|  Charter Hall Group (REIT) | 52330 | 787759 |
|  Charter Hall Long Wale REIT (REIT) | 72284 | 210453 |
|  Charter Hall Retail REIT (REIT) | 55945 | 152888 |
|  Cleanaway Waste Management Ltd. | 246935 | 452609 |
|  Cochlear Ltd. | 7235 | 1336881 |
|  Codan Ltd. | 13057 | 255047 |
|  Coles Group Ltd. | 148395 | 2286914 |
|  Commonwealth Bank of Australia | 185143 | 20446773 |
|  Computershare Ltd. | 60150 | 1444388 |
|  Corporate Travel Management Ltd.(r)(x) | 14153 | 150496 |
|  Dalrymple Bay Infrastructure Ltd. | 40588 | 117365 |
|  Data#3 Ltd. | 17138 | 104103 |
|  Deep Yellow Ltd.\* | 107636 | 139597 |
|  Deterra Royalties Ltd. | 46813 | 123285 |
|  Dexus (REIT) | 118995 | 565346 |
|  DigiCo Infrastructure REIT (REIT)(x) | 45118 | 79115 |
|  Domino's Pizza Enterprises Ltd.(x) | 7628 | 68040 |
|  Downer EDI Ltd. | 74299 | 362336 |
|  DroneShield Ltd.(m)\* | 96774 | 298405 |
|  Dyno Nobel Ltd. | 183516 | 376441 |
|  Eagers Automotive Ltd.(x) | 19986 | 387749 |
|  EBOS Group Ltd. | 5996 | 102284 |
|  Elders Ltd. | 21155 | 104287 |
|  Emerald Resources NL\* | 64236 | 213375 |
|  Endeavour Group Ltd. | 168422 | 404545 |
|  Evolution Mining Ltd. | 222772 | 1596431 |
|  EVT Ltd. | 11687 | 101074 |
|  Flight Centre Travel Group Ltd.(x) | 20970 | 160544 |
|  Fortescue Ltd. | 183946 | 2273675 |
|  Generation Development Group Ltd.(x) | 39368 | 181307 |
|  Genesis Minerals Ltd.(x)\* | 125078 | 487481 |
|  Glencore plc | 1737582 | 7982762 |
|  Gold Road Resources Ltd.(r) | 119397 | 272225 |
|  Goodman Group (REIT) | 224715 | 4874187 |
|  GPT Group (The) (REIT) | 211929 | 753053 |
|  GrainCorp Ltd., Class A | 24594 | 146465 |
|  Greatland Resources Ltd.\* | 57882 | 285339 |
|  Guzman y Gomez Ltd.(x) | 6145 | 105638 |
|  Harvey Norman Holdings Ltd. | 62033 | 302929 |
|  Helia Group Ltd. | 30146 | 115297 |
|  HMC Capital Ltd. (REIT) | 32411 | 68199 |
|  HomeCo Daily Needs REIT (REIT)(m)(x) | 207727 | 186249 |
|  HUB24 Ltd. | 8981 | 598789 |
|  IDP Education Ltd.(x) | 30794 | 133873 |
|  IGO Ltd.\* | 76240 | 261321 |
|  Iluka Resources Ltd. | 47535 | 199103 |
|  Imdex Ltd. | 56627 | 126274 |
|  Ingenia Communities Group (REIT) | 45093 | 162319 |
|  Inghams Group Ltd.(x) | 41121 | 68841 |
|  Insignia Financial Ltd.\* | 74205 | 219974 |
|  Insurance Australia Group Ltd. | 261682 | 1419871 |
|  IperionX Ltd.\* | 34726 | 173256 |
|  IPH Ltd.(x) | 27096 | 64008 |
|  IRESS Ltd. | 20665 | 120605 |
|  JB Hi-Fi Ltd. | 12096 | 928455 |
|  Judo Capital Holdings Ltd.\* | 123713 | 143666 |
|  Lendlease Corp. Ltd. | 72541 | 264002 |
|  Liontown Resources Ltd.(x)\* | 216364 | 141021 |
|  Lottery Corp. Ltd. (The) | 246247 | 958097 |
|  Lovisa Holdings Ltd.(x) | 7349 | 181821 |
|  Lynas Rare Earths Ltd.\* | 100975 | 1123163 |
|  Macquarie Group Ltd. | 39215 | 5691299 |
|  Magellan Financial Group Ltd. | 17314 | 110099 |
|  Medibank Pvt Ltd. | 304688 | 971770 |
|  Megaport Ltd.\* | 17806 | 185806 |
|  Mesoblast Ltd.(x)\* | 106206 | 166555 |
|  Metcash Ltd. | 121541 | 305610 |
|  Mineral Resources Ltd.\* | 19350 | 526752 |
|  Mirvac Group (REIT) | 436548 | 655721 |
|  Monadelphous Group Ltd. | 10984 | 163533 |
|  National Australia Bank Ltd. | 338877 | 9899971 |
|  National Storage REIT (REIT) | 153941 | 239377 |
|  Netwealth Group Ltd. | 14096 | 274130 |
|  Neuren Pharmaceuticals Ltd.\* | 13961 | 182358 |
|  New Hope Corp. Ltd. | 56878 | 147534 |
|  NEXTDC Ltd.(x)\* | 70947 | 794320 |
|  nib holdings Ltd. | 53881 | 264546 |
|  Nick Scali Ltd. | 8706 | 134571 |
|  Nine Entertainment Co. Holdings Ltd. | 149124 | 119397 |
|  Northern Star Resources Ltd. | 158214 | 2484299 |
|  NRW Holdings Ltd. | 50600 | 155022 |
|  Orica Ltd. | 52753 | 737927 |
|  Origin Energy Ltd. | 190595 | 1576459 |
|  Orora Ltd. | 141763 | 195114 |
|  Paladin Energy Ltd.(x)\* | 43858 | 241453 |
|  Perenti Ltd. | 102121 | 189881 |
|  Perpetual Ltd. | 11928 | 147831 |
|  Perseus Mining Ltd. | 149466 | 484618 |
|  PEXA Group Ltd.\* | 14933 | 154838 |
|  Pilbara Minerals Ltd.(x)\* | 338225 | 563985 |
|  Pinnacle Investment Management Group Ltd. | 20322 | 241375 |
|  Premier Investments Ltd. | 10790 | 137440 |

---

See Notes to Portfolio of Investments.

546

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL EQUITY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Pro Medicus Ltd. | 6125 | $1249472 |
|  Qantas Airways Ltd. | 167412 | 1209680 |
|  QBE Insurance Group Ltd. | 167060 | 2276093 |
|  Qube Holdings Ltd. | 195725 | 532291 |
|  Ramelius Resources Ltd.(x) | 211579 | 543207 |
|  Ramsay Health Care Ltd.(x) | 20941 | 439672 |
|  REA Group Ltd. | 5554 | 849164 |
|  Reece Ltd. | 26268 | 196238 |
|  Region Group (REIT) | 128413 | 203080 |
|  Regis Resources Ltd. | 83618 | 332533 |
|  Rio Tinto Ltd. | 41069 | 3316209 |
|  Rio Tinto plc | 167657 | 11020428 |
|  Sandfire Resources Ltd.\* | 50789 | 479573 |
|  Santos Ltd. | 359316 | 1600121 |
|  Scentre Group (REIT) | 576258 | 1555744 |
|  SEEK Ltd. | 39521 | 745566 |
|  SGH Ltd. | 22064 | 728965 |
|  Sigma Healthcare Ltd. | 638566 | 1254941 |
|  SiteMinder Ltd.\* | 28591 | 136404 |
|  Sonic Healthcare Ltd. | 54680 | 775737 |
|  South32 Ltd. | 498257 | 903369 |
|  Steadfast Group Ltd.(x) | 122394 | 480259 |
|  Stockland (REIT) | 265502 | 1075178 |
|  Suncorp Group Ltd. | 119814 | 1606232 |
|  Super Retail Group Ltd. | 17989 | 193548 |
|  Superloop Ltd.\* | 56640 | 127428 |
|  Tabcorp Holdings Ltd. | 252938 | 171553 |
|  Technology One Ltd. | 33683 | 857198 |
|  Telix Pharmaceuticals Ltd.(x)\* | 32197 | 310410 |
|  Telstra Group Ltd. | 1259577 | 4017287 |
|  Temple & Webster Group Ltd.\* | 10908 | 165866 |
|  TPG Telecom Ltd. | 47313 | 157161 |
|  Transurban Group | 343894 | 3140254 |
|  Treasury Wine Estates Ltd. | 89772 | 419973 |
|  Tuas Ltd.\* | 31533 | 145849 |
|  Vault Minerals Ltd.\* | 752588 | 328672 |
|  Ventia Services Group Pty. Ltd. | 92509 | 312799 |
|  Vicinity Ltd. (REIT) | 429090 | 715501 |
|  Virgin Australia International Holdings Pty. Ltd.(r)\* | 190064 |  |
|  Viva Energy Group Ltd.(m) | 125053 | 150187 |
|  Washington H Soul Pattinson & Co. Ltd. | 35499 | 904118 |
|  Waypoint REIT Ltd. (REIT) | 72948 | 130328 |
|  WEB Travel Group Ltd.\* | 39977 | 104488 |
|  Wesfarmers Ltd. | 125572 | 7646033 |
|  West African Resources Ltd.(r)\* | 125273 | 251995 |
|  Westgold Resources Ltd.(x) | 104402 | 309491 |
|  Westpac Banking Corp. | 378409 | 9757824 |
|  Whitehaven Coal Ltd. | 92095 | 401590 |
|  WiseTech Global Ltd. | 23323 | 1392813 |
|  Woodside Energy Group Ltd. | 210067 | 3201201 |
|  Woolworths Group Ltd. | 135151 | 2387765 |
|  Worley Ltd. | 53666 | 498927 |
|  Yancoal Australia Ltd.(x) | 43826 | 153698 |
|  Zip Co. Ltd.(x)\* | 142811 | 417681 |
|  |  | 197650940 |
|  **Austria (0.1%)** |  |  |
|  Mondi plc | 70580 | 972012 |
|  **Belgium (0.5%)** |  |  |
|  Anheuser-Busch InBev SA/NV | 173799 | 10365675 |
|  **Brazil (0.0%)†** |  |  |
|  Karoon Energy Ltd. | 81057 | 88498 |
|  **Canada (0.0%)†** |  |  |
|  Capstone Copper Corp. (CRDI)\* | 21519 | 186390 |
|  Champion Iron Ltd.(x) | 44837 | 138553 |
|  |  | 324943 |
|  **Chile (0.1%)** |  |  |
|  Antofagasta plc | 55181 | 2041598 |
|  **China (0.7%)** |  |  |
|  Prosus NV | 212327 | 14941994 |
|  **Finland (0.5%)** |  |  |
|  Nordea Bank Abp | 556323 | 9127786 |
|  **France (11.3%)** |  |  |
|  Air Liquide SA | 97989 | 20346679 |
|  Airbus SE | 99674 | 23100194 |
|  AXA SA | 309505 | 14767533 |
|  BNP Paribas SA | 180822 | 16416700 |
|  Cie de Saint-Gobain SA | 84537 | 9097316 |
|  Danone SA | 108970 | 9487751 |
|  EssilorLuxottica SA | 53010 | 17177244 |
|  Hermes International SCA | 5950 | 14550999 |
|  L'Oreal SA | 40635 | 17580222 |
|  LVMH Moet Hennessy Louis Vuitton SE | 42834 | 26175559 |
|  Safran SA | 63450 | 22355491 |
|  TotalEnergies SE | 386416 | 23468437 |
|  Vinci SA | 98733 | 13672467 |
|  |  | 228196592 |
|  **Germany (12.1%)** |  |  |
|  adidas AG | 28932 | 6093790 |
|  Allianz SE (Registered) | 65413 | 27447653 |
|  BASF SE | 151185 | 7524172 |
|  Bayer AG (Registered) | 166414 | 5515531 |
|  Bayerische Motoren Werke AG | 47355 | 4750219 |
|  Deutsche Bank AG (Registered) | 330017 | 11604321 |
|  Deutsche Boerse AG | 31896 | 8541774 |
|  Deutsche Post AG | 156477 | 6970027 |
|  Deutsche Telekom AG (Registered) | 596084 | 20302139 |
|  Infineon Technologies AG | 221212 | 8622503 |
|  Mercedes-Benz Group AG | 121939 | 7654898 |
|  Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered) | 22130 | 14118470 |
|  Rheinmetall AG | 7783 | 18133629 |
|  SAP SE | 172555 | 46169850 |
|  Siemens AG (Registered) | 127382 | 34277510 |
|  Siemens Energy AG\* | 120506 | 14065949 |
|  Volkswagen AG (Preference)(q) | 34929 | 3771132 |
|  |  | 245563567 |
|  **Hong Kong (0.3%)** |  |  |
|  Prudential plc | 417557 | 5845969 |
|  **Indonesia (0.0%)†** |  |  |
|  Nickel Industries Ltd. | 278549 | 130864 |
|  **Italy (3.3%)** |  |  |
|  Coca-Cola HBC AG | 32423 | 1527943 |
|  Enel SpA | 1315893 | 12461358 |
|  Eni SpA(x) | 357012 | 6231083 |
|  Ferrari NV | 20590 | 9949891 |
|  Intesa Sanpaolo SpA | 2476862 | 16325287 |
|  UniCredit SpA | 263856 | 19971525 |
|  |  | 66467087 |
|  **Ivory Coast (0.1%)** |  |  |
|  Endeavour Mining plc | 30557 | 1273979 |
|  **Japan (24.8%)** |  |  |
|  77 Bank Ltd. (The)(x) | 5460 | 228206 |
|  ABC-Mart, Inc. | 11100 | 220184 |
|  Acom Co. Ltd.(x) | 36258 | 118028 |
|  ADEKA Corp. | 5816 | 129821 |
|  Advantest Corp. | 53787 | 5328326 |

---

See Notes to Portfolio of Investments.

547

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL EQUITY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Aeon Co. Ltd. | 215655 | $2617579 |
|  AEON Financial Service Co. Ltd.(x) | 10296 | 105024 |
|  Aeon Hokkaido Corp. | 6749 | 41073 |
|  AGC, Inc. | 16996 | 554523 |
|  Ai Holdings Corp. | 4238 | 80298 |
|  Aica Kogyo Co. Ltd. | 4388 | 110497 |
|  Aichi Financial Group, Inc.(x) | 5726 | 120998 |
|  Aiful Corp. | 10 | 34 |
|  Ain Holdings, Inc. | 2727 | 128711 |
|  Air Water, Inc. | 14881 | 256092 |
|  Airtrip Corp.\* | 8559 | 56719 |
|  Aisan Industry Co. Ltd.(x) | 7700 | 97731 |
|  Aisin Corp.(x) | 32760 | 567100 |
|  Ajinomoto Co., Inc. | 76430 | 2194420 |
|  Akita Bank Ltd. (The)(x) | 4106 | 99537 |
|  Alfresa Holdings Corp. | 13732 | 196530 |
|  Alpen Co. Ltd.(x) | 4000 | 63698 |
|  Alpha Systems, Inc. | 3196 | 81691 |
|  Alps Alpine Co. Ltd.(x) | 16017 | 203238 |
|  ALSOK Co. Ltd. | 31635 | 238731 |
|  Amada Co. Ltd.(x) | 27419 | 337535 |
|  Amano Corp. | 5299 | 150458 |
|  Amvis Holdings, Inc. | 3000 | 12212 |
|  ANA Holdings, Inc. | 45238 | 875179 |
|  and ST HD Co. Ltd.(x) | 4227 | 85692 |
|  Anritsu Corp.(x) | 11754 | 149861 |
|  Anycolor, Inc. | 3730 | 142002 |
|  Aozora Bank Ltd.(x) | 10221 | 160000 |
|  Appier Group, Inc. | 8814 | 92381 |
|  Arclands Corp. | 3733 | 49198 |
|  ARE Holdings, Inc. | 5730 | 83266 |
|  Argo Graphics, Inc. | 13236 | 110803 |
|  Ariake Japan Co. Ltd. | 1540 | 61960 |
|  Artience Co. Ltd. | 1695 | 35875 |
|  As One Corp. | 5908 | 98077 |
|  Asahi Group Holdings Ltd. | 125655 | 1508608 |
|  Asahi Intecc Co. Ltd.(x) | 21990 | 357095 |
|  Asahi Kasei Corp. | 115868 | 912387 |
|  Asics Corp. | 65483 | 1714509 |
|  ASKUL Corp. | 4548 | 48222 |
|  Astellas Pharma, Inc.(x) | 149430 | 1617221 |
|  Aucnet, Inc. | 6167 | 77439 |
|  Autobacs Seven Co. Ltd. | 5122 | 55936 |
|  Awa Bank Ltd. (The) | 2224 | 55869 |
|  Axial Retailing, Inc. | 8516 | 67548 |
|  Azbil Corp. | 47328 | 449166 |
|  AZ-COM MARUWA Holdings, Inc. | 4115 | 29746 |
|  Bandai Namco Holdings, Inc. | 47836 | 1593078 |
|  Base Co. Ltd. | 2953 | 72285 |
|  baudroie, Inc.\* | 5137 | 95213 |
|  BayCurrent, Inc. | 13549 | 797081 |
|  Belc Co. Ltd. | 2242 | 117190 |
|  Bell System24 Holdings, Inc. | 13200 | 119249 |
|  Bic Camera, Inc.(x) | 10045 | 111124 |
|  BIPROGY, Inc. | 5369 | 219211 |
|  BML, Inc. | 2892 | 72258 |
|  Bridgestone Corp. | 50963 | 2359905 |
|  Brother Industries Ltd.(x) | 22856 | 383058 |
|  Buffalo, Inc.(x) | 2177 | 52701 |
|  Bunka Shutter Co. Ltd.(x) | 6786 | 104714 |
|  Calbee, Inc.(x) | 7612 | 147005 |
|  Canon Electronics, Inc. | 2833 | 52298 |
|  Canon Marketing Japan, Inc. | 3480 | 140932 |
|  Canon, Inc.(x) | 76444 | 2241861 |
|  Capcom Co. Ltd. | 34230 | 931178 |
|  Casio Computer Co. Ltd. | 13340 | 109690 |
|  Central Glass Co. Ltd.(x) | 3878 | 85881 |
|  Central Japan Railway Co. | 67460 | 1935509 |
|  Change Holdings, Inc.(x) | 12222 | 94298 |
|  Chiba Bank Ltd. (The)(x) | 45706 | 480441 |
|  Chofu Seisakusho Co. Ltd. | 3200 | 41827 |
|  Chubu Electric Power Co., Inc. | 61364 | 854162 |
|  Chudenko Corp. | 4078 | 108647 |
|  Chugai Pharmaceutical Co. Ltd. | 53581 | 2336209 |
|  Chugin Financial Group, Inc.(x) | 13443 | 198348 |
|  Chugoku Electric Power Co., Inc. (The)(x) | 24265 | 138369 |
|  Citizen Watch Co. Ltd.(x) | 16406 | 111270 |
|  CKD Corp.(x) | 4836 | 90092 |
|  Cleanup Corp. | 10500 | 56233 |
|  Coca-Cola Bottlers Japan Holdings, Inc. | 14253 | 253959 |
|  Colowide Co. Ltd.(x) | 5764 | 71327 |
|  COMSYS Holdings Corp. | 10500 | 262065 |
|  Comture Corp. | 3705 | 40661 |
|  Cosel Co. Ltd. | 4700 | 38138 |
|  Cosmo Energy Holdings Co. Ltd. | 10574 | 256047 |
|  Cosmos Pharmaceutical Corp. | 3986 | 232877 |
|  Create Restaurants Holdings, Inc.(x) | 22268 | 116546 |
|  Create SD Holdings Co. Ltd. | 2762 | 62007 |
|  Credit Saison Co. Ltd.(x) | 13432 | 358768 |
|  Curves Holdings Co. Ltd. | 10714 | 60567 |
|  CyberAgent, Inc. | 35482 | 426115 |
|  Dai Nippon Printing Co. Ltd. | 32866 | 559045 |
|  Daicel Corp.(x) | 22828 | 208313 |
|  Daido Steel Co. Ltd. | 16660 | 144030 |
|  Daifuku Co. Ltd. | 27252 | 874032 |
|  Daihen Corp. | 2153 | 119817 |
|  Daiho Corp.(x) | 7140 | 40025 |
|  Dai-ichi Life Holdings, Inc. | 310384 | 2447224 |
|  Daiichi Sankyo Co. Ltd. | 157174 | 3523223 |
|  Daiki Aluminium Industry Co. Ltd. | 6333 | 48262 |
|  Daikin Industries Ltd. | 22066 | 2548516 |
|  Daio Paper Corp. | 8061 | 48567 |
|  Daiseki Co. Ltd.(x) | 2316 | 53560 |
|  Daishi Hokuetsu Financial Group, Inc. | 15525 | 150647 |
|  Daito Trust Construction Co. Ltd.(x) | 27245 | 597830 |
|  Daiwa House Industry Co. Ltd. | 49646 | 1785960 |
|  Daiwa Securities Group, Inc.(x) | 121877 | 991021 |
|  Daiwabo Holdings Co. Ltd.(x) | 8725 | 174193 |
|  DCM Holdings Co. Ltd. | 10117 | 109663 |
|  Denka Co. Ltd.(x) | 5919 | 91396 |
|  Denso Corp. | 165887 | 2395454 |
|  Dentsu Group, Inc.(x) | 18243 | 399438 |
|  Dexerials Corp. | 16359 | 251826 |
|  DIC Corp. | 8900 | 219664 |
|  Digital Arts, Inc. | 1151 | 59774 |
|  Digital Garage, Inc. | 3387 | 82794 |
|  dip Corp. | 2786 | 43801 |
|  Disco Corp. | 8440 | 2654390 |
|  DMG Mori Co. Ltd. | 11229 | 225894 |
|  Doutor Nichires Holdings Co. Ltd. | 5044 | 89908 |
|  Dowa Holdings Co. Ltd.(x) | 5600 | 204407 |
|  Duskin Co. Ltd.(x) | 4370 | 113797 |
|  DyDo Group Holdings, Inc.(x) | 4246 | 72238 |
|  Earth Corp. | 1236 | 43126 |
|  East Japan Railway Co. | 93621 | 2291700 |
|  Ebara Corp. | 35025 | 801228 |
|  EDION Corp. | 43 | 630 |
|  Eiken Chemical Co. Ltd.(x) | 478 | 7738 |
|  Eisai Co. Ltd.(x) | 21105 | 709993 |
|  Eizo Corp. | 5266 | 77983 |
|  Elan Corp. | 9238 | 49224 |

---

See Notes to Portfolio of Investments.

548

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL EQUITY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Elecom Co. Ltd. | 4016 | $50130 |
|  Electric Power Development Co. Ltd. | 12851 | 241100 |
|  ENEOS Holdings, Inc. | 255946 | 1626694 |
|  Exedy Corp. | 3400 | 119552 |
|  EXEO Group, Inc. | 19600 | 283891 |
|  Ezaki Glico Co. Ltd. | 4571 | 156493 |
|  FANUC Corp. | 81180 | 2339583 |
|  Fast Retailing Co. Ltd. | 12186 | 3711380 |
|  Financial Partners Group Co. Ltd. | 5886 | 94687 |
|  Food & Life Cos. Ltd. | 9290 | 486031 |
|  FP Corp. | 3160 | 53783 |
|  FP Partner, Inc.(x) | 7904 | 115606 |
|  Fudo Tetra Corp.(x) | 6411 | 116095 |
|  Fuji Co. Ltd. | 3941 | 53831 |
|  Fuji Corp.(x) | 5877 | 107299 |
|  Fuji Electric Co. Ltd. | 9979 | 671002 |
|  Fuji Kyuko Co. Ltd. | 2194 | 38173 |
|  Fuji Media Holdings, Inc. | 15216 | 360426 |
|  Fuji Oil Co. Ltd. | 4030 | 97804 |
|  Fuji Seal International, Inc. | 4473 | 86172 |
|  FUJIFILM Holdings Corp. | 101443 | 2525014 |
|  Fujikura Ltd. | 18448 | 1803197 |
|  Fujimi, Inc. | 6846 | 100270 |
|  Fujitec Co. Ltd. | 5445 | 207918 |
|  Fujitsu Ltd. | 157860 | 3718999 |
|  Fukui Computer Holdings, Inc. | 1895 | 42799 |
|  Fukuoka Financial Group, Inc. | 16400 | 492161 |
|  Fukuyama Transporting Co. Ltd. | 2128 | 52954 |
|  FULLCAST Holdings Co. Ltd. | 4492 | 53946 |
|  Funai Soken Holdings, Inc. | 3831 | 66939 |
|  Furukawa Electric Co. Ltd. | 5789 | 356692 |
|  Fuso Chemical Co. Ltd.(x) | 1687 | 55897 |
|  Futaba Industrial Co. Ltd. | 9500 | 61798 |
|  Future Corp.(x) | 8216 | 128947 |
|  Fuyo General Lease Co. Ltd. | 5955 | 178185 |
|  G-7 Holdings, Inc. | 5406 | 46170 |
|  Galilei Co. Ltd. | 4744 | 121579 |
|  Genky DrugStores Co. Ltd. | 3812 | 129657 |
|  Geo Holdings Corp. | 6023 | 67160 |
|  Giken Ltd. | 5478 | 53637 |
|  GLOBERIDE, Inc. | 2998 | 49384 |
|  Glory Ltd. | 4557 | 112873 |
|  GMO GlobalSign Holdings KK | 3313 | 48233 |
|  GMO internet group, Inc. | 5420 | 132673 |
|  GMO Internet, Inc.(x) | 5707 | 39285 |
|  GMO Payment Gateway, Inc. | 3903 | 218975 |
|  Goldwin, Inc. | 8748 | 149009 |
|  GREE Holdings, Inc. | 19104 | 56711 |
|  grems, Inc. | 7262 | 119965 |
|  GS Yuasa Corp.(x) | 5471 | 129482 |
|  G-Tekt Corp. | 5327 | 71394 |
|  GungHo Online Entertainment, Inc. | 4739 | 86714 |
|  Gunma Bank Ltd. (The) | 29571 | 330233 |
|  Gunze Ltd. | 4484 | 114613 |
|  H.U. Group Holdings, Inc.(x) | 5042 | 116431 |
|  H2O Retailing Corp.(x) | 8630 | 126691 |
|  Hachijuni Bank Ltd. (The)(x) | 43000 | 449525 |
|  Hakuhodo DY Holdings, Inc.(x) | 27115 | 217914 |
|  Hakuto Co. Ltd.(x) | 4412 | 115458 |
|  Halows Co. Ltd. | 3661 | 123779 |
|  Hamamatsu Photonics KK | 26724 | 290036 |
|  Hankyu Hanshin Holdings, Inc.(x) | 22548 | 665378 |
|  Hanwa Co. Ltd. | 2918 | 124309 |
|  Haseko Corp. | 16475 | 281463 |
|  Hazama Ando Corp. | 13771 | 155882 |
|  Heiwa Corp. | 4550 | 64734 |
|  Heiwa Real Estate Co. Ltd. | 7756 | 123878 |
|  Heiwado Co. Ltd. | 2453 | 48236 |
|  Hikari Tsushin, Inc. | 1831 | 511098 |
|  Hino Motors Ltd.\* | 22963 | 60076 |
|  Hioki EE Corp. | 1430 | 58792 |
|  Hirogin Holdings, Inc.(x) | 22190 | 216971 |
|  Hirose Electric Co. Ltd. | 2789 | 347576 |
|  Hiroshima Gas Co. Ltd.(x) | 39439 | 102141 |
|  HIS Co. Ltd.(x) | 3292 | 31276 |
|  Hisamitsu Pharmaceutical Co., Inc.(x) | 3740 | 104144 |
|  Hitachi Construction Machinery Co. Ltd.(x) | 6567 | 210219 |
|  Hitachi Ltd. | 430538 | 11441420 |
|  Hochiki Corp. | 3355 | 88931 |
|  Hokkaido Electric Power Co., Inc.(x) | 22712 | 166479 |
|  Hokkoku Financial Holdings, Inc.(x) | 10840 | 50431 |
|  Hokuetsu Corp.(x) | 10903 | 73431 |
|  Hokuhoku Financial Group, Inc. | 10686 | 279859 |
|  Hokuriku Electric Power Co.(x) | 17392 | 99423 |
|  Honda Motor Co. Ltd.(x) | 398459 | 4125102 |
|  Horiba Ltd. | 3816 | 323580 |
|  Hoshizaki Corp. | 11077 | 416160 |
|  Hosiden Corp.(x) | 6570 | 104535 |
|  House Foods Group, Inc.(x) | 5762 | 113011 |
|  Hoya Corp. | 32960 | 4563384 |
|  Hulic Co. Ltd. | 48903 | 535706 |
|  Hyakugo Bank Ltd. (The)(x) | 17673 | 109347 |
|  Hyakujushi Bank Ltd. (The) | 2900 | 100991 |
|  Ibiden Co. Ltd.(x) | 10054 | 610780 |
|  Ichibanya Co. Ltd.(x) | 6340 | 40213 |
|  Ichigo, Inc. | 44705 | 127569 |
|  Idec Corp. | 3977 | 65134 |
|  Idemitsu Kosan Co. Ltd.(x) | 73864 | 507461 |
|  IDOM, Inc. | 10714 | 76215 |
|  IHI Corp. | 95557 | 1783395 |
|  Iida Group Holdings Co. Ltd.(x) | 15482 | 247224 |
|  Iino Kaiun Kaisha Ltd. | 12669 | 101431 |
|  I'll, Inc. | 3109 | 56804 |
|  Inaba Denki Sangyo Co. Ltd. | 6062 | 172491 |
|  Inabata & Co. Ltd. | 2307 | 54444 |
|  Infomart Corp. | 19428 | 43878 |
|  INFRONEER Holdings, Inc.(x) | 20727 | 215700 |
|  Inpex Corp. | 74040 | 1338262 |
|  Insource Co. Ltd. | 9158 | 59573 |
|  Internet Initiative Japan, Inc. | 9252 | 163819 |
|  Iriso Electronics Co. Ltd. | 1764 | 35224 |
|  Isetan Mitsukoshi Holdings Ltd.(x) | 29788 | 550499 |
|  Isuzu Motors Ltd.(x) | 53195 | 672469 |
|  Ito En Ltd.(x) | 5340 | 125696 |
|  ITOCHU Corp. | 119180 | 6790484 |
|  Itochu Enex Co. Ltd. | 6062 | 81081 |
|  Itoham Yonekyu Holdings, Inc.(x) | 2537 | 97613 |
|  Iwatani Corp. | 15176 | 165937 |
|  Iyogin Holdings, Inc.(x) | 24000 | 364418 |
|  Izumi Co. Ltd. | 3455 | 76279 |
|  J Front Retailing Co. Ltd. | 22829 | 381294 |
|  JAC Recruitment Co. Ltd. | 16260 | 119076 |
|  Jaccs Co. Ltd. | 1844 | 52994 |
|  JAFCO Group Co. Ltd.(x) | 5476 | 95960 |
|  Japan Airlines Co. Ltd. | 40833 | 823646 |
|  Japan Airport Terminal Co. Ltd. | 6373 | 203534 |
|  Japan Aviation Electronics Industry Ltd.(x) | 3585 | 60968 |
|  Japan Cash Machine Co. Ltd. | 6102 | 40767 |
|  Japan Display, Inc.(x)\* | 861949 | 122399 |
|  Japan Elevator Service Holdings Co. Ltd. | 13376 | 169772 |
|  Japan Exchange Group, Inc. | 98295 | 1098370 |

---

See Notes to Portfolio of Investments.

549

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL EQUITY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Japan Investment Adviser Co. Ltd. | 5106 | $69054 |
|  Japan Lifeline Co. Ltd. | 7771 | 79189 |
|  Japan Material Co. Ltd. | 5450 | 67367 |
|  Japan Petroleum Exploration Co. Ltd. | 14050 | 123033 |
|  Japan Post Bank Co. Ltd. | 136167 | 1670724 |
|  Japan Post Holdings Co. Ltd. | 172024 | 1709945 |
|  Japan Post Insurance Co. Ltd. | 19609 | 555976 |
|  Japan Pulp & Paper Co. Ltd. | 25430 | 122778 |
|  Japan Securities Finance Co. Ltd. | 6741 | 84921 |
|  Japan Steel Works Ltd. (The) | 5779 | 351699 |
|  Japan Tobacco, Inc. | 100118 | 3291569 |
|  Japan Wool Textile Co. Ltd. (The) | 5449 | 61349 |
|  JCU Corp. | 1541 | 47568 |
|  Jeol Ltd.(x) | 3266 | 112213 |
|  JFE Holdings, Inc.(x) | 52149 | 640556 |
|  JGC Holdings Corp. | 18595 | 189867 |
|  JMDC, Inc. | 2736 | 82884 |
|  Joyful Honda Co. Ltd. | 6398 | 94098 |
|  JSB Co. Ltd.(x) | 4372 | 121802 |
|  JTEKT Corp. | 17798 | 176975 |
|  Juroku Financial Group, Inc. | 3200 | 119444 |
|  JX Advanced Metals Corp. | 43573 | 577644 |
|  Kadokawa Corp.(x) | 9702 | 236637 |
|  Kagome Co. Ltd.(x) | 8701 | 169390 |
|  Kajima Corp. | 36441 | 1063525 |
|  Kakaku.com, Inc. | 13130 | 225426 |
|  Kaken Pharmaceutical Co. Ltd.(x) | 2834 | 70004 |
|  Kameda Seika Co. Ltd. | 1676 | 46806 |
|  Kamigumi Co. Ltd. | 8622 | 261893 |
|  Kanadevia Corp. | 13019 | 90059 |
|  Kanamoto Co. Ltd. | 2948 | 71764 |
|  Kandenko Co. Ltd. | 10349 | 283839 |
|  Kaneka Corp.(x) | 4203 | 119594 |
|  Kanematsu Corp.(x) | 8108 | 170839 |
|  Kansai Electric Power Co., Inc. (The) | 81338 | 1165193 |
|  Kansai Paint Co. Ltd.(x) | 18311 | 298590 |
|  Kao Corp. | 41450 | 1808121 |
|  Kappa Create Co. Ltd.(x) | 4080 | 43508 |
|  Katitas Co. Ltd.(x) | 5812 | 110160 |
|  Kato Sangyo Co. Ltd. | 2563 | 101040 |
|  Kawasaki Heavy Industries Ltd.(x) | 14020 | 926229 |
|  Kawasaki Kisen Kaisha Ltd.(x) | 42996 | 612297 |
|  KDDI Corp.(x) | 239939 | 3829841 |
|  KeePer Technical Laboratory Co. Ltd.(x) | 2208 | 55840 |
|  Keihan Holdings Co. Ltd.(x) | 8105 | 184149 |
|  Keihanshin Building Co. Ltd. | 3858 | 42758 |
|  Keikyu Corp.(x) | 24606 | 249745 |
|  Keio Corp.(x) | 8634 | 223316 |
|  Keisei Electric Railway Co. Ltd.(x) | 32853 | 304682 |
|  Kewpie Corp. | 9180 | 250722 |
|  Key Coffee, Inc.(x) | 4000 | 53609 |
|  Keyence Corp. | 16891 | 6302501 |
|  KH Neochem Co. Ltd. | 3353 | 63212 |
|  Kikkoman Corp.(x) | 60880 | 516647 |
|  Kinden Corp. | 11405 | 390308 |
|  Kintetsu Department Store Co. Ltd. | 2816 | 38598 |
|  Kintetsu Group Holdings Co. Ltd.(x) | 17144 | 357406 |
|  Kioxia Holdings Corp.\* | 10125 | 333769 |
|  Kirin Holdings Co. Ltd. | 70527 | 1033690 |
|  Kissei Pharmaceutical Co. Ltd. | 3193 | 92842 |
|  Ki-Star Real Estate Co. Ltd. | 2056 | 77855 |
|  Kitz Corp. | 6541 | 74749 |
|  Koa Corp.(x) | 13134 | 103555 |
|  Kobayashi Pharmaceutical Co. Ltd. | 4615 | 167517 |
|  Kobe Bussan Co. Ltd. | 14292 | 392756 |
|  Kobe Steel Ltd.(x) | 33016 | 390361 |
|  Koei Tecmo Holdings Co. Ltd. | 11028 | 143550 |
|  Kohnan Shoji Co. Ltd. | 2315 | 65982 |
|  Koito Manufacturing Co. Ltd.(x) | 19178 | 290747 |
|  Kojima Co. Ltd.(x) | 9719 | 74329 |
|  Kokusai Electric Corp. | 11847 | 336380 |
|  Kokuyo Co. Ltd. | 31928 | 190206 |
|  Komatsu Ltd. | 85527 | 2984206 |
|  KOMEDA Holdings Co. Ltd. | 4896 | 102962 |
|  Komeri Co. Ltd. | 3475 | 77543 |
|  Komori Corp. | 7900 | 81198 |
|  Konami Group Corp. | 6302 | 909813 |
|  Konica Minolta, Inc. | 43791 | 156378 |
|  Kosaido Holdings Co. Ltd.(x) | 14890 | 44403 |
|  Kose Corp.(x) | 3360 | 134709 |
|  Koshidaka Holdings Co. Ltd.(x) | 10956 | 101792 |
|  Kotobuki Spirits Co. Ltd.(x) | 8160 | 100148 |
|  Kraftia Corp. | 3588 | 173571 |
|  Krosaki Harima Corp. | 5557 | 154815 |
|  KU Holdings Co. Ltd. | 15242 | 121309 |
|  Kubota Corp. | 90523 | 1140375 |
|  Kumagai Gumi Co. Ltd. | 13084 | 110947 |
|  Kumiai Chemical Industry Co. Ltd. | 9350 | 52287 |
|  Kura Sushi, Inc.(x) | 3446 | 79226 |
|  Kuraray Co. Ltd. | 20412 | 235128 |
|  Kureha Corp.(x) | 3963 | 102368 |
|  Kurita Water Industries Ltd.(x) | 9006 | 307477 |
|  Kusuri no Aoki Holdings Co. Ltd. | 4806 | 130155 |
|  KYB Corp. | 3846 | 102076 |
|  Kyocera Corp. | 104876 | 1410899 |
|  Kyoei Steel Ltd. | 7738 | 119928 |
|  Kyoritsu Maintenance Co. Ltd.(x) | 5340 | 115369 |
|  Kyoto Financial Group, Inc.(x) | 21664 | 460864 |
|  Kyowa Kirin Co. Ltd. | 20521 | 318947 |
|  Kyushu Electric Power Co., Inc. | 39343 | 393603 |
|  Kyushu Financial Group, Inc. | 34349 | 211573 |
|  Kyushu Railway Co. | 11748 | 311326 |
|  Lasertec Corp. | 6467 | 887936 |
|  Leopalace21 Corp. | 15452 | 74603 |
|  Life Corp. | 6084 | 103961 |
|  Link And Motivation, Inc. | 10606 | 38010 |
|  Lintec Corp.(x) | 4900 | 120607 |
|  Lion Corp. | 21636 | 225965 |
|  LITALICO, Inc. | 3942 | 36145 |
|  Lixil Corp.(x) | 29006 | 356973 |
|  LY Corp. | 274039 | 882239 |
|  M&A Capital Partners Co. Ltd. | 5986 | 129730 |
|  M&A Research Institute Holdings, Inc.\* | 8895 | 78433 |
|  M3, Inc.(x) | 33824 | 545722 |
|  Mabuchi Motor Co. Ltd.(x) | 9052 | 158533 |
|  Macnica Holdings, Inc.(x) | 13743 | 190786 |
|  Maeda Kosen Co. Ltd. | 6346 | 83463 |
|  Makino Milling Machine Co. Ltd. | 2098 | 162580 |
|  Makita Corp. | 22583 | 733907 |
|  Mandom Corp. | 4260 | 64238 |
|  Mani, Inc. | 8732 | 75136 |
|  Marubeni Corp. | 149832 | 3746687 |
|  Maruha Nichiro Corp. | 3726 | 86445 |
|  Marui Group Co. Ltd.(x) | 9254 | 198615 |
|  Maruichi Steel Tube Ltd. | 23400 | 203723 |
|  MARUKA FURUSATO Corp. | 3674 | 58010 |
|  Maruwa Co. Ltd.(x) | 889 | 232642 |
|  Marvelous, Inc. | 10228 | 42535 |
|  Matsuda Sangyo Co. Ltd. | 4000 | 113331 |
|  Matsui Securities Co. Ltd.(x) | 14747 | 76584 |
|  MatsukiyoCocokara & Co. | 30232 | 614105 |
|  Matsuya Co. Ltd.(x) | 7173 | 69846 |

---

See Notes to Portfolio of Investments.

550

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL EQUITY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Maxell Ltd. | 5700 | $82290 |
|  Mazda Motor Corp.(x) | 57715 | 421881 |
|  Mebuki Financial Group, Inc.(x) | 77629 | 496687 |
|  Media Do Co. Ltd.(x) | 9544 | 123136 |
|  Medipal Holdings Corp. | 17687 | 304800 |
|  Medley, Inc.\* | 1414 | 23282 |
|  MedPeer, Inc.\* | 9655 | 45375 |
|  Megmilk Snow Brand Co. Ltd. | 4854 | 97188 |
|  Meiji Holdings Co. Ltd.(x) | 21858 | 453167 |
|  MEITEC Group Holdings, Inc. | 5817 | 125556 |
|  Menicon Co. Ltd. | 8955 | 68850 |
|  Mercari, Inc.(x)\* | 10481 | 161306 |
|  METAWATER Co. Ltd. | 3652 | 74949 |
|  Micronics Japan Co. Ltd.(x) | 3035 | 120674 |
|  Mie Kotsu Group Holdings, Inc.(x) | 34478 | 126829 |
|  Milbon Co. Ltd. | 2308 | 38689 |
|  Minebea Mitsumi, Inc.(x) | 30892 | 582704 |
|  Mirai Industry Co. Ltd.(x) | 4774 | 120250 |
|  Mirait One Corp. | 7953 | 155150 |
|  Miroku Jyoho Service Co. Ltd. | 2998 | 38437 |
|  MISUMI Group, Inc. | 26577 | 414510 |
|  Mitani Sekisan Co. Ltd. | 1611 | 95428 |
|  Mitsubishi Chemical Group Corp.(x) | 125208 | 720760 |
|  Mitsubishi Corp.(x) | 327657 | 7823355 |
|  Mitsubishi Electric Corp. | 175332 | 4508825 |
|  Mitsubishi Estate Co. Ltd. | 93019 | 2140472 |
|  Mitsubishi Gas Chemical Co., Inc. | 14524 | 259524 |
|  Mitsubishi HC Capital, Inc. | 82822 | 684653 |
|  Mitsubishi Heavy Industries Ltd. | 295972 | 7763298 |
|  Mitsubishi Logisnext Co. Ltd.(x) | 7908 | 97055 |
|  Mitsubishi Logistics Corp. | 20080 | 164635 |
|  Mitsubishi Materials Corp.(x) | 14300 | 268624 |
|  Mitsubishi Motors Corp.(x) | 75000 | 203875 |
|  Mitsubishi Pencil Co. Ltd. | 3972 | 58176 |
|  Mitsubishi Research Institute, Inc. | 2488 | 87148 |
|  Mitsubishi UFJ Financial Group, Inc.(x) | 1058707 | 17138618 |
|  Mitsui & Co. Ltd. | 257097 | 6397653 |
|  Mitsui Chemicals, Inc.(x) | 14798 | 370438 |
|  Mitsui E&S Co. Ltd.(x) | 9032 | 273308 |
|  Mitsui Fudosan Co. Ltd. | 228649 | 2493903 |
|  Mitsui High-Tec, Inc. | 9160 | 48065 |
|  Mitsui Kinzoku Co. Ltd. | 5900 | 459002 |
|  Mitsui OSK Lines Ltd.(x) | 31842 | 967630 |
|  Mitsui-Soko Holdings Co. Ltd.(x) | 5197 | 145313 |
|  Miura Co. Ltd. | 8004 | 157471 |
|  MIXI, Inc. | 3456 | 74315 |
|  Miyakoshi Holdings, Inc.(x)\* | 15337 | 101842 |
|  Mizuho Financial Group, Inc. | 223015 | 7522053 |
|  Mizuho Leasing Co. Ltd.(x) | 9980 | 87933 |
|  Mochida Pharmaceutical Co. Ltd. | 2534 | 54403 |
|  Modec, Inc. | 4283 | 239513 |
|  Monex Group, Inc.(x) | 14185 | 80092 |
|  Money Forward, Inc.\* | 4020 | 162746 |
|  Monogatari Corp. (The) | 2978 | 85986 |
|  MonotaRO Co. Ltd. | 23996 | 349835 |
|  Morinaga Milk Industry Co. Ltd. | 7816 | 183079 |
|  Morita Holdings Corp. | 3388 | 53242 |
|  MOS Food Services, Inc.(x) | 3648 | 97685 |
|  MS&AD Insurance Group Holdings, Inc. | 121081 | 2747729 |
|  MTI Ltd. | 18221 | 94749 |
|  Murata Manufacturing Co. Ltd. | 152200 | 2897651 |
|  Musashi Seimitsu Industry Co. Ltd.(x) | 5616 | 131015 |
|  Nabtesco Corp. | 11042 | 250057 |
|  Nachi-Fujikoshi Corp. | 2183 | 55134 |
|  Nagase & Co. Ltd.(x) | 11432 | 247525 |
|  Nagawa Co. Ltd.(x) | 1145 | 51720 |
|  Nagoya Railroad Co. Ltd.(x) | 17631 | 210723 |
|  Nankai Electric Railway Co. Ltd.(x) | 9800 | 184887 |
|  Nanto Bank Ltd. (The)(x) | 2711 | 93309 |
|  NEC Capital Solutions Ltd.(x) | 4418 | 117108 |
|  NEC Corp. | 121898 | 3906242 |
|  Nexon Co. Ltd. | 41949 | 921043 |
|  Nextage Co. Ltd. | 4194 | 66986 |
|  NGK Insulators Ltd.(x) | 22442 | 376272 |
|  NH Foods Ltd.(x) | 6942 | 275267 |
|  NHK Spring Co. Ltd. | 14535 | 218784 |
|  Nichias Corp. | 4359 | 163825 |
|  Nichicon Corp. | 10871 | 108942 |
|  Nichiden Corp.(x) | 3318 | 61049 |
|  Nichiha Corp. | 3077 | 57322 |
|  Nichirei Corp. | 19174 | 225081 |
|  Nidec Corp. | 75750 | 1348938 |
|  Nifco, Inc. | 5877 | 177639 |
|  Nihon Kohden Corp.(x) | 15936 | 182167 |
|  Nihon M&A Center Holdings, Inc.(x) | 25488 | 130176 |
|  Nihon Parkerizing Co. Ltd. | 12170 | 112660 |
|  Nikkon Holdings Co. Ltd.(x) | 10982 | 253377 |
|  Nikon Corp.(x) | 26926 | 314077 |
|  Nintendo Co. Ltd. | 105797 | 9160703 |
|  Nippn Corp. | 4887 | 76601 |
|  Nippon Ceramic Co. Ltd. | 1836 | 43577 |
|  Nippon Coke & Engineering Co. Ltd.(x)\* | 80285 | 56460 |
|  Nippon Densetsu Kogyo Co. Ltd. | 4340 | 83903 |
|  Nippon Electric Glass Co. Ltd. | 6101 | 200334 |
|  Nippon Express Holdings, Inc. | 18171 | 412974 |
|  Nippon Gas Co. Ltd. | 8442 | 158011 |
|  Nippon Kanzai Holdings Co. Ltd. | 4458 | 84225 |
|  Nippon Kayaku Co. Ltd. | 10745 | 100958 |
|  Nippon Light Metal Holdings Co. Ltd. | 5252 | 74580 |
|  Nippon Paint Holdings Co. Ltd.(x) | 90577 | 618608 |
|  Nippon Paper Industries Co. Ltd. | 9600 | 79067 |
|  Nippon Parking Development Co. Ltd. | 46787 | 90799 |
|  Nippon Sanso Holdings Corp. | 15957 | 566159 |
|  Nippon Sharyo Ltd. | 3791 | 73700 |
|  Nippon Shinyaku Co. Ltd.(x) | 4816 | 108542 |
|  Nippon Shokubai Co. Ltd.(x) | 9848 | 121464 |
|  Nippon Signal Co. Ltd. | 8900 | 73241 |
|  Nippon Soda Co. Ltd. | 1900 | 44325 |
|  Nippon Steel Corp.(x) | 438240 | 1806182 |
|  Nippon Television Holdings, Inc. | 13631 | 363715 |
|  Nippon Yusen KK(x) | 34704 | 1185312 |
|  Nipro Corp.(x) | 13900 | 141505 |
|  Nishimatsu Construction Co. Ltd. | 3295 | 116796 |
|  Nishimatsuya Chain Co. Ltd. | 6093 | 88129 |
|  Nishi-Nippon Financial Holdings, Inc. | 10611 | 180097 |
|  Nishi-Nippon Railroad Co. Ltd. | 5600 | 88515 |
|  Nissan Chemical Corp.(x) | 9008 | 327099 |
|  Nissan Motor Co. Ltd.\* | 236553 | 581925 |
|  Nissan Shatai Co. Ltd.(x) | 15016 | 125197 |
|  Nissha Co. Ltd. | 6603 | 63849 |
|  Nisshin Seifun Group, Inc.(x) | 18778 | 230590 |
|  Nisshinbo Holdings, Inc. | 12062 | 92860 |
|  Nissin Foods Holdings Co. Ltd.(x) | 21295 | 401176 |
|  Nissui Corp.(x) | 20317 | 143223 |
|  Niterra Co. Ltd. | 14152 | 546807 |
|  Nitori Holdings Co. Ltd.(x) | 32710 | 631152 |
|  Nitta Corp. | 1728 | 48609 |

---

See Notes to Portfolio of Investments.

551

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL EQUITY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Nitto Boseki Co. Ltd.(x) | 2757 | $123043 |
|  Nitto Denko Corp.(x) | 55965 | 1330959 |
|  Nitto Kogyo Corp. | 2395 | 58626 |
|  Noevir Holdings Co. Ltd. | 1991 | 60113 |
|  NOF Corp. | 19779 | 346000 |
|  Nojima Corp.(x) | 7218 | 197917 |
|  NOK Corp.(x) | 6744 | 118522 |
|  Nomura Co. Ltd. | 11318 | 81048 |
|  Nomura Holdings, Inc. | 281320 | 2064935 |
|  Nomura Micro Science Co. Ltd.(x) | 3627 | 80813 |
|  Nomura Real Estate Holdings, Inc.(x) | 52705 | 336470 |
|  Nomura Research Institute Ltd. | 37740 | 1447740 |
|  Noritsu Koki Co. Ltd. | 11487 | 137174 |
|  Noritz Corp. | 4795 | 65042 |
|  NS Solutions Corp.(x) | 5888 | 143652 |
|  NSD Co. Ltd. | 5948 | 139887 |
|  NSK Ltd. | 30498 | 157641 |
|  NTN Corp.(x) | 37117 | 85435 |
|  NTT, Inc. | 5091591 | 5326227 |
|  Nxera Pharma Co. Ltd.(x)\* | 5980 | 40032 |
|  Obara Group, Inc. | 1415 | 40904 |
|  Obayashi Corp. | 56756 | 932213 |
|  OBIC Business Consultants Co. Ltd. | 2838 | 174634 |
|  Obic Co. Ltd. | 31241 | 1088793 |
|  Odakyu Electric Railway Co. Ltd.(x) | 28087 | 316130 |
|  Ogaki Kyoritsu Bank Ltd. (The) | 2098 | 49299 |
|  Ohsho Food Service Corp. | 2223 | 55618 |
|  Oiles Corp. | 4560 | 71012 |
|  Oji Holdings Corp.(x) | 68133 | 372719 |
|  Okamoto Industries, Inc.(x) | 2906 | 99628 |
|  Okamura Corp. | 6912 | 109743 |
|  Okasan Securities Group, Inc. | 21773 | 100705 |
|  Oki Electric Industry Co. Ltd. | 8423 | 91928 |
|  OKUMA Corp. | 2346 | 53619 |
|  Okumura Corp.(x) | 2739 | 87605 |
|  Olympus Corp. | 94305 | 1193121 |
|  Omron Corp.(x) | 15526 | 427297 |
|  Ono Pharmaceutical Co. Ltd.(x) | 36152 | 416316 |
|  Onward Holdings Co. Ltd. | 15000 | 70900 |
|  Open House Group Co. Ltd. | 5846 | 302608 |
|  Open Up Group, Inc. | 4768 | 58550 |
|  Optex Group Co. Ltd. | 5977 | 85279 |
|  Optorun Co. Ltd. | 5119 | 57599 |
|  Oracle Corp. | 3300 | 336951 |
|  Organo Corp. | 2229 | 170922 |
|  Orient Corp. | 6542 | 44724 |
|  Oriental Land Co. Ltd.(x) | 102670 | 2476410 |
|  ORIX Corp. | 94602 | 2483315 |
|  Osaka Gas Co. Ltd.(x) | 30862 | 895068 |
|  Osaka Organic Chemical Industry Ltd. | 3454 | 72871 |
|  Osaka Soda Co. Ltd. | 8950 | 100282 |
|  Osaka Steel Co. Ltd.(x) | 3450 | 58999 |
|  Otsuka Corp. | 19060 | 397994 |
|  Otsuka Holdings Co. Ltd. | 38769 | 2060287 |
|  PAL GROUP Holdings Co. Ltd. | 4059 | 68892 |
|  PALTAC Corp. | 3995 | 125103 |
|  Pan Pacific International Holdings Corp. | 176420 | 1163130 |
|  Panasonic Holdings Corp. | 204905 | 2230768 |
|  Paramount Bed Holdings Co. Ltd. | 3001 | 73663 |
|  Park24 Co. Ltd.(x) | 10900 | 139304 |
|  Pasona Group, Inc. | 3788 | 56096 |
|  Penta-Ocean Construction Co. Ltd. | 21476 | 169328 |
|  PeptiDream, Inc.\* | 8788 | 93445 |
|  Persol Holdings Co. Ltd. | 180660 | 329472 |
|  PHC Holdings Corp.(x) | 4990 | 33034 |
|  PIA Corp.\* | 3007 | 70455 |
|  Pigeon Corp. | 10057 | 120676 |
|  PILLAR Corp.(x) | 3146 | 87646 |
|  Pilot Corp.(x) | 3440 | 111654 |
|  Piolax, Inc. | 4502 | 54218 |
|  Pola Orbis Holdings, Inc. | 8224 | 74268 |
|  Prestige International, Inc. | 10559 | 47124 |
|  Prima Meat Packers Ltd. | 3652 | 58156 |
|  PS Construction Co. Ltd.(x) | 9250 | 115965 |
|  Raito Kogyo Co. Ltd.(x) | 6051 | 131957 |
|  Rakus Co. Ltd. | 16462 | 151167 |
|  Rakuten Bank Ltd.\* | 7719 | 431608 |
|  Rakuten Group, Inc.\* | 137837 | 894680 |
|  Recruit Holdings Co. Ltd. | 127403 | 6860128 |
|  Relo Group, Inc. | 8020 | 96776 |
|  Renesas Electronics Corp. | 166776 | 1923926 |
|  Rengo Co. Ltd.(x) | 15192 | 96041 |
|  Resona Holdings, Inc.(x) | 204059 | 2084262 |
|  Resonac Holdings Corp.(x) | 16494 | 560005 |
|  Resorttrust, Inc. | 14356 | 182308 |
|  Ricoh Co. Ltd.(x) | 46040 | 406743 |
|  Ricoh Leasing Co. Ltd.(x) | 1550 | 61210 |
|  Riken Keiki Co. Ltd. | 4281 | 90463 |
|  Riken Vitamin Co. Ltd. | 6372 | 125385 |
|  Rinnai Corp. | 11100 | 263154 |
|  Riso Kyoiku Group Corp. | 22934 | 34893 |
|  Rohm Co. Ltd.(x) | 30360 | 454112 |
|  Rohto Pharmaceutical Co. Ltd. | 16720 | 281126 |
|  Roland Corp. | 1717 | 39185 |
|  Rorze Corp. | 8920 | 134115 |
|  Round One Corp. | 18870 | 166772 |
|  RS Technologies Co. Ltd. | 3414 | 85532 |
|  Ryohin Keikaku Co. Ltd. | 42858 | 853479 |
|  Saibu Gas Holdings Co. Ltd. | 6017 | 80438 |
|  Saizeriya Co. Ltd. | 2656 | 89440 |
|  Sakai Moving Service Co. Ltd. | 3080 | 62377 |
|  Sakata Seed Corp. | 2341 | 57700 |
|  San ju San Financial Group, Inc.(x) | 2610 | 63801 |
|  San-A Co. Ltd. | 3652 | 68775 |
|  San-Ai Obbli Co. Ltd.(x) | 7598 | 107534 |
|  Sangetsu Corp. | 3239 | 68006 |
|  San-In Godo Bank Ltd. (The) | 5829 | 54276 |
|  Sankyo Co. Ltd. | 17735 | 308385 |
|  Sankyu, Inc. | 4962 | 271780 |
|  Sanrio Co. Ltd.(x) | 15519 | 729436 |
|  Sansan, Inc.\* | 4408 | 56901 |
|  Santen Pharmaceutical Co. Ltd. | 30999 | 343665 |
|  Sanwa Holdings Corp. | 19020 | 544807 |
|  Sanyo Chemical Industries Ltd. | 1868 | 52042 |
|  Sanyo Denki Co. Ltd.(x) | 4305 | 102614 |
|  Sapporo Holdings Ltd. | 6302 | 314962 |
|  Sato Corp. | 5385 | 82586 |
|  SBI ARUHI Corp.(x) | 21766 | 120248 |
|  SBI Global Asset Management Co. Ltd.(x) | 25805 | 110280 |
|  SBI Holdings, Inc. | 26709 | 1162384 |
|  SBS Holdings, Inc. | 2809 | 69520 |
|  SCREEN Holdings Co. Ltd.(x) | 7010 | 638027 |
|  SCSK Corp. | 12294 | 368192 |
|  Secom Co. Ltd. | 35098 | 1287532 |
|  Sega Sammy Holdings, Inc. | 13520 | 284872 |
|  Seibu Holdings, Inc.(x) | 18352 | 664288 |
|  Seiko Epson Corp.(x) | 24121 | 309576 |
|  Seino Holdings Co. Ltd.(x) | 10346 | 152512 |
|  Seiren Co. Ltd. | 5033 | 103801 |
|  Sekisui Chemical Co. Ltd. | 33017 | 615085 |
|  Sekisui House Ltd. | 49146 | 1118941 |

---

See Notes to Portfolio of Investments.

552

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL EQUITY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Senko Group Holdings Co. Ltd. | 10158 | $139712 |
|  Seven & i Holdings Co. Ltd. | 196072 | 2639749 |
|  Seven Bank Ltd.(x) | 59186 | 116943 |
|  SG Holdings Co. Ltd.(x) | 31903 | 329849 |
|  Sharp Corp.\* | 28919 | 162287 |
|  Shibuya Corp. | 2975 | 68700 |
|  SHIFT, Inc.\* | 17010 | 143777 |
|  Shiga Bank Ltd. (The)(x) | 2831 | 129791 |
|  Shikoku Electric Power Co., Inc.(x) | 18249 | 162271 |
|  Shikoku Kasei Holdings Corp. | 5724 | 86623 |
|  Shimadzu Corp. | 24146 | 609834 |
|  Shimamura Co. Ltd. | 5000 | 334348 |
|  Shimano, Inc. | 7143 | 801797 |
|  Shimizu Corp. | 44688 | 628385 |
|  Shimojima Co. Ltd. | 5300 | 46017 |
|  Shin Nippon Biomedical Laboratories Ltd.(x) | 4508 | 51913 |
|  Shinagawa Refra Co. Ltd. | 10391 | 131394 |
|  Shin-Etsu Chemical Co. Ltd. | 150688 | 4944983 |
|  Shinmaywa Industries Ltd.(x) | 11106 | 139083 |
|  Shionogi & Co. Ltd. | 55810 | 978001 |
|  Ship Healthcare Holdings, Inc. | 5252 | 81043 |
|  Shiseido Co. Ltd. | 35968 | 614607 |
|  Shizuoka Financial Group, Inc.(x) | 40645 | 558341 |
|  Shizuoka Gas Co. Ltd. | 6571 | 51942 |
|  Shoei Co. Ltd. | 4748 | 56475 |
|  Showa Sangyo Co. Ltd. | 2573 | 53066 |
|  Siix Corp. | 7281 | 66712 |
|  Simplex Holdings, Inc. | 1627 | 47803 |
|  Sinanen Holdings Co. Ltd.(x) | 2012 | 90883 |
|  Sintokogio Ltd. | 7500 | 51070 |
|  SKY Perfect JSAT Holdings, Inc.(x) | 18355 | 173143 |
|  Skylark Holdings Co. Ltd. | 24496 | 506700 |
|  SMC Corp. | 5135 | 1577463 |
|  SMS Co. Ltd. | 6512 | 68649 |
|  Socionext, Inc.(x) | 16882 | 318496 |
|  SoftBank Corp.(x) | 2745838 | 4042120 |
|  SoftBank Group Corp. | 82905 | 10474896 |
|  Sojitz Corp.(x) | 18298 | 484532 |
|  Sompo Holdings, Inc. | 78118 | 2416674 |
|  Sony Financial Group, Inc.\* | 578064 | 641056 |
|  Sony Group Corp. | 578064 | 16647899 |
|  Sotetsu Holdings, Inc. | 6169 | 111170 |
|  Sparx Group Co. Ltd. | 10971 | 118549 |
|  Square Enix Holdings Co. Ltd. | 24207 | 520855 |
|  Stanley Electric Co. Ltd. | 13307 | 268956 |
|  Starts Corp., Inc. | 1577 | 54172 |
|  Subaru Corp. | 52689 | 1079539 |
|  Sugi Holdings Co. Ltd. | 9816 | 236696 |
|  SUMCO Corp.(x) | 32710 | 348809 |
|  Sumitomo Bakelite Co. Ltd. | 4992 | 167531 |
|  Sumitomo Chemical Co. Ltd. | 130222 | 410430 |
|  Sumitomo Corp. | 109290 | 3168919 |
|  Sumitomo Electric Industries Ltd. | 60375 | 1722026 |
|  Sumitomo Forestry Co. Ltd.(x) | 44112 | 525431 |
|  Sumitomo Heavy Industries Ltd. | 10441 | 251485 |
|  Sumitomo Metal Mining Co. Ltd.(x) | 21852 | 704388 |
|  Sumitomo Mitsui Construction Co. Ltd. | 15803 | 63689 |
|  Sumitomo Mitsui Financial Group, Inc. | 340781 | 9623028 |
|  Sumitomo Mitsui Trust Group, Inc. | 57545 | 1672827 |
|  Sumitomo Osaka Cement Co. Ltd.(x) | 3791 | 99719 |
|  Sumitomo Pharma Co. Ltd.\* | 15798 | 182780 |
|  Sumitomo Realty & Development Co. Ltd.(x) | 27347 | 1207902 |
|  Sumitomo Riko Co. Ltd. | 9725 | 145068 |
|  Sumitomo Rubber Industries Ltd.(x) | 16520 | 200908 |
|  Sumitomo Warehouse Co. Ltd. (The)(x) | 5783 | 121811 |
|  Sundrug Co. Ltd. | 6166 | 180829 |
|  Suntory Beverage & Food Ltd.(x) | 12637 | 395213 |
|  Suruga Bank Ltd.(x) | 11788 | 122993 |
|  Suzuken Co. Ltd. | 4178 | 164340 |
|  Suzuki Motor Corp. | 135570 | 1980586 |
|  SWCC Corp.(x) | 3116 | 163717 |
|  Sysmex Corp. | 45183 | 557436 |
|  Systena Corp. | 23296 | 83490 |
|  T Hasegawa Co. Ltd. | 3525 | 69482 |
|  T&D Holdings, Inc. | 43400 | 1062953 |
|  Tadano Ltd. | 8952 | 63227 |
|  Taihei Dengyo Kaisha Ltd. | 9753 | 137901 |
|  Taiheiyo Cement Corp. | 12822 | 333371 |
|  Taikisha Ltd. | 5076 | 98098 |
|  Taisei Corp.(x) | 14918 | 1025906 |
|  Taiyo Holdings Co. Ltd. | 3818 | 208604 |
|  Taiyo Yuden Co. Ltd. | 7388 | 165360 |
|  Takamatsu Construction Group Co. Ltd. | 3899 | 90960 |
|  Takara Holdings, Inc. | 9479 | 111882 |
|  Takara Standard Co. Ltd. | 6958 | 122942 |
|  Takasago Thermal Engineering Co. Ltd. | 8982 | 250052 |
|  Takashimaya Co. Ltd.(x) | 22874 | 262173 |
|  Takeda Pharmaceutical Co. Ltd.(x) | 151513 | 4420858 |
|  Takeuchi Manufacturing Co. Ltd.(x) | 3225 | 112963 |
|  Takuma Co. Ltd. | 5495 | 83381 |
|  Tamron Co. Ltd. | 12856 | 89975 |
|  Tamura Corp.(x) | 15075 | 50051 |
|  TBS Holdings, Inc. | 8289 | 314891 |
|  TDK Corp. | 146335 | 2125981 |
|  TechMatrix Corp. | 5615 | 82126 |
|  TechnoPro Holdings, Inc. | 10275 | 336282 |
|  Teijin Ltd. | 14506 | 123446 |
|  Terumo Corp. | 112220 | 1853829 |
|  THK Co. Ltd. | 9493 | 262673 |
|  TIS, Inc. | 18861 | 622897 |
|  TKC Corp. | 2570 | 73511 |
|  Toagosei Co. Ltd. | 10197 | 103980 |
|  TOBISHIMA HOLDINGS, Inc. | 6530 | 95995 |
|  Tobu Railway Co. Ltd. | 17551 | 313434 |
|  TOC Co. Ltd. | 25846 | 141215 |
|  Toda Corp. | 32000 | 220712 |
|  Toei Co. Ltd. | 2174 | 79089 |
|  Toenec Corp. | 14172 | 133972 |
|  Toho Bank Ltd. (The)(x) | 26176 | 82306 |
|  Toho Co. Ltd.(x) | 10087 | 647980 |
|  Toho Gas Co. Ltd.(x) | 5799 | 178732 |
|  Toho Holdings Co. Ltd.(x) | 4972 | 183569 |
|  Tohoku Electric Power Co., Inc.(x) | 41248 | 300117 |
|  Tokai Carbon Co. Ltd. | 15000 | 104524 |
|  Tokai Corp. | 8050 | 119755 |
|  TOKAI Holdings Corp. | 9977 | 70231 |
|  Tokai Rika Co. Ltd.(x) | 7712 | 139602 |
|  Token Corp. | 853 | 85885 |
|  Tokio Marine Holdings, Inc. | 157552 | 6678794 |
|  Tokuyama Corp. | 6205 | 154197 |
|  Tokyo Century Corp. | 12872 | 164246 |
|  Tokyo Electric Power Co. Holdings, Inc.\* | 143590 | 674038 |
|  Tokyo Electron Ltd. | 36121 | 6438446 |
|  Tokyo Gas Co. Ltd. | 29186 | 1038882 |
|  Tokyo Metro Co. Ltd.(x) | 37304 | 427438 |
|  Tokyo Ohka Kogyo Co. Ltd. | 6882 | 225607 |

---

See Notes to Portfolio of Investments.

553

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL EQUITY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Tokyo Seimitsu Co. Ltd.(x) | 3298 | $224238 |
|  Tokyo Steel Manufacturing Co. Ltd.(x) | 9358 | 92261 |
|  Tokyo Tatemono Co. Ltd. | 13440 | 269509 |
|  Tokyotokeiba Co. Ltd. | 2059 | 75045 |
|  Tokyu Construction Co. Ltd. | 14461 | 109324 |
|  Tokyu Corp.(x) | 46695 | 569617 |
|  Tokyu Fudosan Holdings Corp. | 50536 | 418613 |
|  Tomen Devices Corp.(x) | 2859 | 131462 |
|  Tomy Co. Ltd.(x) | 9500 | 205565 |
|  Topcon Corp.(x)\* | 8062 | 178592 |
|  TOPPAN Holdings, Inc. | 21338 | 547572 |
|  Toray Industries, Inc. | 117437 | 750672 |
|  Toridoll Holdings Corp.(x) | 4525 | 146932 |
|  Toshiba TEC Corp. | 2627 | 53824 |
|  Tosho Co. Ltd. | 11530 | 59254 |
|  Tosoh Corp. | 24847 | 367870 |
|  Totetsu Kogyo Co. Ltd. | 1687 | 49337 |
|  TOTO Ltd.(x) | 12927 | 340384 |
|  Towa Corp.(x) | 5697 | 82324 |
|  Towa Pharmaceutical Co. Ltd. | 3403 | 67929 |
|  Toyo Seikan Group Holdings Ltd. | 12145 | 277171 |
|  Toyo Suisan Kaisha Ltd. | 7652 | 547181 |
|  Toyo Tire Corp. | 11244 | 298882 |
|  Toyobo Co. Ltd. | 9549 | 73417 |
|  Toyoda Gosei Co. Ltd.(x) | 5066 | 126132 |
|  Toyota Boshoku Corp. | 5878 | 97559 |
|  Toyota Industries Corp. | 14488 | 1630188 |
|  Toyota Motor Corp. | 890809 | 17164420 |
|  Toyota Tsusho Corp.(x) | 54233 | 1504302 |
|  TPR Co. Ltd.(x) | 8204 | 67514 |
|  Transcosmos, Inc. | 3331 | 83115 |
|  TRE Holdings Corp. | 8081 | 84971 |
|  Trend Micro, Inc. | 9870 | 540603 |
|  Tri Chemical Laboratories, Inc. | 2576 | 50811 |
|  Trusco Nakayama Corp. | 3910 | 63137 |
|  TS Tech Co. Ltd. | 8940 | 112472 |
|  Tsubakimoto Chain Co.(x) | 7779 | 113041 |
|  Tsugami Corp.(x) | 7561 | 121888 |
|  Tsumura & Co. | 5336 | 130653 |
|  Tsuruha Holdings, Inc.(x) | 19770 | 316499 |
|  TV Asahi Holdings Corp. | 4061 | 92130 |
|  UBE Corp.(x) | 10241 | 158166 |
|  Uchida Yoko Co. Ltd. | 1541 | 125773 |
|  Ulvac, Inc. | 4000 | 174433 |
|  U-Next Holdings Co. Ltd. | 5685 | 82958 |
|  Unicharm Corp. | 108444 | 703528 |
|  United Arrows Ltd. | 2708 | 38326 |
|  United Super Markets Holdings, Inc.(x) | 5338 | 34796 |
|  Ushio, Inc. | 7886 | 124221 |
|  USS Co. Ltd. | 35606 | 408704 |
|  UT Group Co. Ltd. | 2834 | 52393 |
|  V Technology Co. Ltd.(x) | 252 | 5862 |
|  Valor Holdings Co. Ltd. | 4076 | 80150 |
|  Visional, Inc.\* | 2145 | 164046 |
|  Wacoal Holdings Corp.(x) | 3211 | 122373 |
|  Wacom Co. Ltd. | 10900 | 60365 |
|  Weathernews, Inc. | 2816 | 89782 |
|  Welcia Holdings Co. Ltd. | 9748 | 177973 |
|  Wellneo Sugar Co. Ltd. | 7292 | 127463 |
|  West Japan Railway Co. | 43272 | 948920 |
|  WingArc1st, Inc.(x) | 5403 | 119470 |
|  Xebio Holdings Co. Ltd.(x) | 5148 | 40172 |
|  Yakult Honsha Co. Ltd.(x) | 25208 | 411057 |
|  Yamada Holdings Co. Ltd. | 65127 | 213765 |
|  Yamaguchi Financial Group, Inc. | 13541 | 165045 |
|  Yamaha Corp.(x) | 32289 | 214867 |
|  Yamaha Motor Co. Ltd.(x) | 78513 | 589305 |
|  YA-MAN Ltd.(x) | 5286 | 27916 |
|  Yamato Holdings Co. Ltd. | 23993 | 383862 |
|  Yamato Kogyo Co. Ltd.(x) | 4045 | 248742 |
|  Yamazaki Baking Co. Ltd. | 13933 | 310156 |
|  Yamazen Corp.(x) | 9283 | 87629 |
|  Yaoko Co. Ltd.(r) | 2104 | 137208 |
|  Yaskawa Electric Corp. | 19929 | 425438 |
|  Yellow Hat Ltd.(x) | 7832 | 89503 |
|  Yokogawa Bridge Holdings Corp. | 4453 | 85215 |
|  Yokogawa Electric Corp. | 18255 | 525239 |
|  Yokohama Financial Group, Inc. | 96536 | 742208 |
|  Yokohama Rubber Co. Ltd. (The) | 9294 | 344711 |
|  Yoshinoya Holdings Co. Ltd.(x) | 6683 | 136023 |
|  Yuasa Trading Co. Ltd. | 3071 | 105284 |
|  Zacros Corp. | 10080 | 72387 |
|  Zenkoku Hosho Co. Ltd.(x) | 10124 | 229747 |
|  Zenrin Co. Ltd.(x) | 13250 | 96048 |
|  Zensho Holdings Co. Ltd. | 9793 | 640483 |
|  Zeon Corp.(x) | 12958 | 144270 |
|  Zojirushi Corp. | 6115 | 67317 |
|  ZOZO, Inc. | 39585 | 364037 |
|  Zuken, Inc. | 3038 | 100763 |
|  |  | 502952661 |
|  **Mexico (0.0%)†** |  |  |
|  Fresnillo plc | 29915 | 949491 |
|  **Netherlands (5.2%)** |  |  |
|  Adyen NV(m)\* | 5014 | 8035327 |
|  Argenx SE\* | 10367 | 7512174 |
|  ASML Holding NV | 66711 | 64858489 |
|  ING Groep NV | 511823 | 13264995 |
|  Koninklijke Ahold Delhaize NV | 153779 | 6219749 |
|  Wolters Kluwer NV | 40403 | 5509592 |
|  |  | 105400326 |
|  **New Zealand (0.2%)** |  |  |
|  a2 Milk Co. Ltd. (The)(x) | 80101 | 457414 |
|  Auckland International Airport Ltd. | 43561 | 196294 |
|  Chorus Ltd. | 48003 | 265543 |
|  Fisher & Paykel Healthcare Corp. Ltd. | 21794 | 466811 |
|  Fletcher Building Ltd.\* | 53602 | 103568 |
|  Infratil Ltd. | 15761 | 111904 |
|  Xero Ltd.\* | 18297 | 1906872 |
|  |  | 3508406 |
|  **Nigeria (0.0%)†** |  |  |
|  Airtel Africa plc(m) | 110724 | 363347 |
|  **Russia (0.0%)** |  |  |
|  Evraz plc(r)\* | 91874 |  |
|  **South Africa (0.3%)** |  |  |
|  Anglo American plc | 172613 | 6465300 |
|  **Spain (3.7%)** |  |  |
|  Banco Bilbao Vizcaya Argentaria SA | 976247 | 18728300 |
|  Banco Santander SA | 2521437 | 26269641 |
|  Iberdrola SA | 1038030 | 19627149 |
|  Industria de Diseno Textil SA | 188261 | 10381677 |
|  |  | 75006767 |
|  **United Arab Emirates (0.0%)** |  |  |
|  NMC Health plc(r)\* | 14124 |  |
|  **United Kingdom (18.4%)** |  |  |
|  3i Group plc | 152819 | 8403969 |
|  Admiral Group plc | 40628 | 1831553 |
|  Ashtead Group plc | 68743 | 4590265 |
|  Associated British Foods plc | 47608 | 1313214 |
|  AstraZeneca plc | 243091 | 36557658 |

---

See Notes to Portfolio of Investments.

554

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL EQUITY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Auto Trader Group plc(m) | 141667 | $1501741 |
|  Aviva plc | 492607 | 4543474 |
|  Babcock International Group plc | 81434 | 1456624 |
|  BAE Systems plc | 487600 | 13502371 |
|  Barclays plc | 2287657 | 11679039 |
|  Barratt Redrow plc | 220405 | 1155752 |
|  Beazley plc | 97750 | 1192378 |
|  Berkeley Group Holdings plc | 14973 | 772463 |
|  British American Tobacco plc | 324844 | 17243760 |
|  BT Group plc | 913169 | 2347553 |
|  Bunzl plc | 52545 | 1657866 |
|  Burberry Group plc\* | 57903 | 909565 |
|  Centrica plc | 790970 | 1772250 |
|  Coca-Cola Europacific Partners plc | 34761 | 3150955 |
|  Compass Group plc | 275142 | 9358273 |
|  Convatec Group plc(m) | 267038 | 831049 |
|  Croda International plc | 22459 | 816746 |
|  DCC plc(x) | 15853 | 1017424 |
|  Diageo plc | 360919 | 8618276 |
|  Diploma plc | 21646 | 1544376 |
|  easyJet plc | 102613 | 640340 |
|  Entain plc | 96803 | 1137603 |
|  Games Workshop Group plc | 5319 | 1039407 |
|  Halma plc | 60589 | 2811272 |
|  Hikma Pharmaceuticals plc | 24787 | 566046 |
|  Hiscox Ltd. | 54622 | 1005683 |
|  Howden Joinery Group plc | 88517 | 1004157 |
|  HSBC Holdings plc | 2820224 | 39636006 |
|  ICG plc | 44093 | 1320033 |
|  IMI plc | 39394 | 1211146 |
|  Imperial Brands plc | 123640 | 5251231 |
|  Informa plc | 212334 | 2620372 |
|  InterContinental Hotels Group plc | 23744 | 2865695 |
|  International Consolidated Airlines Group SA | 555265 | 2883302 |
|  Intertek Group plc | 25358 | 1610390 |
|  J Sainsbury plc | 276482 | 1241948 |
|  JD Sports Fashion plc | 395430 | 506819 |
|  Kingfisher plc | 281490 | 1168664 |
|  Land Securities Group plc (REIT) | 120184 | 940718 |
|  Legal & General Group plc | 909405 | 2910880 |
|  Lloyds Banking Group plc | 9759154 | 11001447 |
|  London Stock Exchange Group plc | 81950 | 9385872 |
|  LondonMetric Property plc (REIT) | 358371 | 876709 |
|  M&G plc | 381448 | 1297914 |
|  Marks & Spencer Group plc | 330969 | 1622463 |
|  Melrose Industries plc | 204876 | 1677474 |
|  Metlen Energy & Metals plc(x)\* | 17398 | 967177 |
|  National Grid plc | 803025 | 11528875 |
|  NatWest Group plc | 1310344 | 9192061 |
|  Next plc | 18653 | 3104444 |
|  Pearson plc | 105568 | 1500002 |
|  Persimmon plc | 50791 | 791699 |
|  Phoenix Group Holdings plc | 120686 | 1044469 |
|  Reckitt Benckiser Group plc | 110544 | 8500986 |
|  RELX plc | 298351 | 14272543 |
|  Rentokil Initial plc | 407215 | 2058119 |
|  Rightmove plc | 125821 | 1199069 |
|  Rolls-Royce Holdings plc | 1375451 | 22013144 |
|  Sage Group plc (The) | 154607 | 2287241 |
|  Schroders plc | 119465 | 604114 |
|  Segro plc (REIT) | 218516 | 1926104 |
|  Severn Trent plc | 42941 | 1494605 |
|  Smith & Nephew plc | 142276 | 2559266 |
|  Smiths Group plc | 54143 | 1712654 |
|  Spirax Group plc | 11870 | 1087944 |
|  SSE plc | 179519 | 4204592 |
|  St James's Place plc | 84035 | 1435337 |
|  Standard Chartered plc | 300946 | 5810075 |
|  Tesco plc | 1036862 | 6212389 |
|  Unilever plc | 391312 | 23156122 |
|  United Utilities Group plc | 110684 | 1706667 |
|  Vodafone Group plc | 3069716 | 3557082 |
|  Weir Group plc (The) | 42011 | 1543596 |
|  Whitbread plc | 28291 | 1225164 |
|  WPP plc | 174777 | 864542 |
|  |  | 373562267 |
|  **United States (6.7%)** |  |  |
|  Alcoa Corp. (CRDI) | 5746 | 192312 |
|  Amcor plc (CHDI) | 67465 | 548645 |
|  Block, Inc. (CRDI)\* | 4931 | 376010 |
|  BP plc | 2585225 | 14802770 |
|  CSL Ltd. | 53571 | 7025780 |
|  Experian plc | 148758 | 7446406 |
|  GQG Partners, Inc. (CRDI) | 85009 | 94501 |
|  GSK plc | 655944 | 13889910 |
|  Haleon plc | 1461784 | 6534829 |
|  James Hardie Industries plc (CHDI)\* | 64055 | 1190176 |
|  Life360, Inc. (CRDI)(m)\* | 25739 | 906416 |
|  Light & Wonder, Inc. (CRDI)\* | 3428 | 294063 |
|  Newmont Corp. (CRDI) | 11423 | 976722 |
|  News Corp. (CHDI), Class B | 4169 | 143366 |
|  Reliance Worldwide Corp. Ltd. | 85580 | 231610 |
|  ResMed, Inc. (CHDI) | 62905 | 1707843 |
|  Sanofi SA | 192910 | 17790474 |
|  Schneider Electric SE | 97759 | 27270291 |
|  Shell plc | 953690 | 33944477 |
|  Sims Ltd. | 17743 | 156971 |
|  |  | 135523572 |
|  **Total Common Stocks (98.1%)**<br> *(Cost $1,151,939,690)* |  | 1986723641 |
|  CLOSED END FUNDS: |  |  |
|  **United Kingdom (0.2%)** |  |  |
|  Alliance Witan plc | 63360 | 1071978 |
|  F&C Investment Trust plc | 77894 | 1260258 |
|  Polar Capital Technology Trust plc\* | 183999 | 1082639 |
|  Scottish Mortgage Investment Trust plc | 185504 | 2837884 |
|  |  | 6252759 |
|  **United States (0.1%)** |  |  |
|  Pershing Square Holdings Ltd. | 21184 | 1314545 |
|  Total Closed End Funds (0.3%)<br>(*Cost $4,166,265*) |  | 7567304 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.6%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 11379439 | 11379439 |
|  **Total Short-Term Investments (0.6%)**<br> *(Cost $11,379,439)* |  | 11379439 |
|  **Total Investments in Securities (99.0%)**<br> *(Cost $1,167,485,394)* |  | 2005670384 |
|  **Other Assets Less Liabilities (1.0%)** |  | 20019555 |
|  **Net Assets (100%)** |  | $2025689939 |

---

See Notes to Portfolio of Investments.

555

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL EQUITY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $12,272,721 or 0.6% of net assets.* 

*(q)* *Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $73,603,399. This was collateralized by $67,167,362 of various U.S. Government Treasury Securities, ranging from 0.000% - 6.000%, maturing 10/9/25 - 5/15/55 and by cash of $11,379,677 of which $11,379,439 was subsequently invested in investment companies.* 

*Glossary:* 

*AUD — Australian Dollar* 

*CRDI — CREST Depository Interest* 

*CHDI — Clearing House Electronic Subregister System (CHESS) Depository Interest* 

*EUR — European Currency Unit* 

*GBP — British Pound* 

*JPY — Japanese Yen* 

*REIT — Real Estate Investment Trust* 

---

| | | |
|:---|:---|:---|
| **Sector Weightings**<br> **as of September 30, 2025** | **Market<br>Value** | **% of<br>Net Assets** |
|  Financials | $467262244 | 23.1% |
|  Industrials | 402361571 | 19.9 |
|  Consumer Discretionary | 226093911 | 11.1 |
|  Information Technology | 194343328 | 9.6 |
|  Consumer Staples | 156527762 | 7.7 |
|  Health Care | 153296388 | 7.6 |
|  Materials | 124816844 | 6.2 |
|  Energy | 89881764 | 4.4 |
|  Communication Services | 82003607 | 4 |
|  Utilities | 62307855 | 3.1 |
|  Real Estate | 27828367 | 1.4 |
|  Investment Company | 11379439 | 0.6 |
|  Closed End Funds | 7567304 | 0.3 |
|  Cash and Other | 20019555 | 1 |
|  |  | 100.0% |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  EURO STOXX 50 Index | 118 | 12/2025 | EUR | 7676385 | 159836 |
|  FTSE 100 Index | 50 | 12/2025 | GBP | 6326073 | 58297 |
|  SPI 200 Index | 15 | 12/2025 | AUD | 2201724 | (2645) |
|  TOPIX Index | 8 | 12/2025 | JPY | 1699158 | 16931 |
|  |  |  |  |  | 232419 |

---

See Notes to Portfolio of Investments.

556

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL EQUITY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Closed End Funds** | $— | $7567304 | $— | $7567304 |
|  **Common Stocks** |  |  |  |  |
|  Australia |  | 196976224 | 674716 | 197650940 |
|  Austria |  | 972012 |  | 972012 |
|  Belgium |  | 10365675 |  | 10365675 |
|  Brazil |  | 88498 |  | 88498 |
|  Canada |  | 324943 |  | 324943 |
|  Chile |  | 2041598 |  | 2041598 |
|  China |  | 14941994 |  | 14941994 |
|  Finland |  | 9127786 |  | 9127786 |
|  France |  | 228196592 |  | 228196592 |
|  Germany |  | 245563567 |  | 245563567 |
|  Hong Kong |  | 5845969 |  | 5845969 |
|  Indonesia |  | 130864 |  | 130864 |
|  Italy |  | 66467087 |  | 66467087 |
|  Ivory Coast |  | 1273979 |  | 1273979 |
|  Japan |  | 502815453 | 137208 | 502952661 |
|  Mexico |  | 949491 |  | 949491 |
|  Netherlands |  | 105400326 |  | 105400326 |
|  New Zealand |  | 3508406 |  | 3508406 |
|  Nigeria |  | 363347 |  | 363347 |
|  Russia |  |  | — (a) | — (a) |
|  South Africa |  | 6465300 |  | 6465300 |
|  Spain |  | 75006767 |  | 75006767 |
|  United Arab Emirates |  |  | — (a) | — (a) |
|  United Kingdom |  | 373562267 |  | 373562267 |
|  United States |  | 135523572 |  | 135523572 |
|  **Futures** | 235064 |  |  | 235064 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 11379439 |  |  | 11379439 |
|  **Total Assets** | $**11614503** | $**1993479021** | $**811924** | $**2005905448** |
|  **Liabilities:** |  |  |  |  |
|  **Futures** | $(2645) | $— | $— | $(2645) |
|  **Total Liabilities** | $**(2645)** | $**—** | $**—** | $**(2645)** |
|  **Total** | $**11611858** | $**1993479021** | $**811924** | $**2005902803** |

---

*(a)* *Value is zero.* 

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $896311146 |
|  Aggregate gross unrealized depreciation | (95384123) |
|  Net unrealized appreciation | $800927023 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1204975780 |

---

See Notes to Portfolio of Investments.

557

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Australia (6.7%)** |  |  |
|  AGL Energy Ltd. | 21601 | $126496 |
|  ALS Ltd. | 17603 | 232026 |
|  AMP Ltd. | 92528 | 101635 |
|  Ampol Ltd. | 8904 | 176223 |
|  Ansell Ltd. | 5830 | 122907 |
|  ANZ Group Holdings Ltd. | 101574 | 2232094 |
|  APA Group | 46619 | 273928 |
|  ARB Corp. Ltd.(x) | 2304 | 58787 |
|  Arena REIT (REIT) | 14610 | 37510 |
|  Aristocrat Leisure Ltd. | 21366 | 989369 |
|  ASX Ltd. | 7084 | 274640 |
|  Atlas Arteria Ltd. | 38473 | 124997 |
|  AUB Group Ltd. | 4347 | 94145 |
|  Aurizon Holdings Ltd. | 70013 | 147785 |
|  Bank of Queensland Ltd. | 21396 | 102644 |
|  Bapcor Ltd. | 12735 | 26713 |
|  Beach Energy Ltd. | 52506 | 39781 |
|  Bega Cheese Ltd. | 10108 | 34713 |
|  Bellevue Gold Ltd.\* | 38882 | 29459 |
|  Bendigo & Adelaide Bank Ltd. | 18893 | 163395 |
|  BHP Group Ltd. | 173519 | 4883189 |
|  BlueScope Steel Ltd. | 15103 | 226756 |
|  Boss Energy Ltd.\* | 15367 | 20947 |
|  Brambles Ltd. | 46420 | 761760 |
|  Breville Group Ltd.(x) | 3647 | 72348 |
|  BWP Property Group Ltd. (REIT)(x) | 19061 | 46919 |
|  Capricorn Metals Ltd.\* | 13680 | 119759 |
|  CAR Group Ltd. | 12917 | 314365 |
|  Centuria Capital Group (REIT) | 28828 | 42157 |
|  Challenger Ltd. | 17638 | 101071 |
|  Charter Hall Group (REIT) | 17182 | 258652 |
|  Charter Hall Long Wale REIT (REIT) | 18664 | 54340 |
|  Charter Hall Retail REIT (REIT) | 19075 | 52129 |
|  Cleanaway Waste Management Ltd. | 78800 | 144433 |
|  Cochlear Ltd. | 2302 | 425363 |
|  Codan Ltd. | 4339 | 84755 |
|  Coles Group Ltd. | 45317 | 698380 |
|  Commonwealth Bank of Australia | 57206 | 6317701 |
|  Computershare Ltd. | 19500 | 468255 |
|  Corporate Travel Management Ltd.(r) | 4838 | 51445 |
|  Data#3 Ltd. | 5527 | 33573 |
|  Deep Yellow Ltd.\* | 35770 | 46391 |
|  Deterra Royalties Ltd. | 11262 | 29659 |
|  Dexus (REIT) | 39692 | 188577 |
|  Domino's Pizza Enterprises Ltd. | 2970 | 26492 |
|  Downer EDI Ltd. | 25221 | 122996 |
|  Dyno Nobel Ltd. | 63569 | 130397 |
|  Eagers Automotive Ltd.(x) | 6620 | 128435 |
|  Elders Ltd. | 6302 | 31067 |
|  Emerald Resources NL\* | 18647 | 61940 |
|  Endeavour Group Ltd. | 53755 | 129118 |
|  Evolution Mining Ltd. | 69019 | 494605 |
|  EVT Ltd. | 3842 | 33227 |
|  Flight Centre Travel Group Ltd.(x) | 7568 | 57940 |
|  Fortescue Ltd. | 57889 | 715540 |
|  Genesis Minerals Ltd.\* | 36242 | 141250 |
|  Glencore plc | 2284666 | 10496163 |
|  Gold Road Resources Ltd.(r) | 41019 | 93523 |
|  Goodman Group (REIT) | 70284 | 1524497 |
|  GPT Group (The) (REIT) | 65724 | 233539 |
|  GrainCorp Ltd., Class A | 8036 | 47857 |
|  Greatland Resources Ltd.\* | 20702 | 102054 |
|  Guzman y Gomez Ltd.(x) | 1679 | 28864 |
|  Harvey Norman Holdings Ltd. | 19394 | 94708 |
|  Helia Group Ltd. | 10987 | 42021 |
|  HMC Capital Ltd. (REIT) | 11066 | 23285 |
|  HomeCo Daily Needs REIT (REIT)(m) | 75836 | 67995 |
|  HUB24 Ltd. | 2880 | 192018 |
|  IDP Education Ltd.(x) | 10762 | 46786 |
|  IGO Ltd.\* | 20056 | 68744 |
|  Iluka Resources Ltd. | 18566 | 77765 |
|  Ingenia Communities Group (REIT) | 12768 | 45960 |
|  Inghams Group Ltd. | 11667 | 19532 |
|  Insignia Financial Ltd.\* | 24263 | 71926 |
|  Insurance Australia Group Ltd. | 86101 | 467179 |
|  IPH Ltd. | 8971 | 21192 |
|  IRESS Ltd. | 7655 | 44676 |
|  JB Hi-Fi Ltd. | 4187 | 321382 |
|  Judo Capital Holdings Ltd.\* | 33650 | 39077 |
|  Lendlease Corp. Ltd. | 26590 | 96770 |
|  Liontown Resources Ltd.(x)\* | 87574 | 57079 |
|  Lottery Corp. Ltd. (The) | 82886 | 322493 |
|  Lovisa Holdings Ltd. | 2652 | 65613 |
|  Lynas Rare Earths Ltd.\* | 30942 | 344173 |
|  Macquarie Group Ltd. | 12067 | 1751292 |
|  Magellan Financial Group Ltd. | 4295 | 27312 |
|  Medibank Pvt Ltd. | 94143 | 300259 |
|  Megaport Ltd.\* | 5405 | 56401 |
|  Mesoblast Ltd.\* | 34632 | 54311 |
|  Metcash Ltd. | 45279 | 113852 |
|  Mineral Resources Ltd.\* | 6913 | 188188 |
|  Mirvac Group (REIT) | 139062 | 208879 |
|  Monadelphous Group Ltd. | 3274 | 48744 |
|  National Australia Bank Ltd. | 104690 | 3058419 |
|  National Storage REIT (REIT) | 49559 | 77064 |
|  Netwealth Group Ltd. | 4855 | 94417 |
|  Neuren Pharmaceuticals Ltd.\* | 4985 | 65114 |
|  New Hope Corp. Ltd. | 19950 | 51748 |
|  NEXTDC Ltd.\* | 21755 | 243568 |
|  nib holdings Ltd. | 17468 | 85765 |
|  Nine Entertainment Co. Holdings Ltd. | 38897 | 31143 |
|  Northern Star Resources Ltd. | 48852 | 767081 |
|  NRW Holdings Ltd. | 18286 | 56022 |
|  Orica Ltd. | 16660 | 233046 |
|  Origin Energy Ltd. | 60654 | 501684 |
|  Orora Ltd. | 40922 | 56322 |
|  Paladin Energy Ltd.\* | 10687 | 58836 |
|  Perpetual Ltd. | 4518 | 55994 |
|  Perseus Mining Ltd. | 43423 | 140792 |
|  PEXA Group Ltd.\* | 3591 | 37234 |
|  Pilbara Minerals Ltd.\* | 102331 | 170635 |
|  Pinnacle Investment Management Group Ltd. | 6284 | 74638 |
|  Premier Investments Ltd. | 3961 | 50454 |
|  Pro Medicus Ltd. | 1857 | 378820 |
|  Qantas Airways Ltd. | 53277 | 384967 |
|  QBE Insurance Group Ltd. | 50406 | 686752 |
|  Qube Holdings Ltd. | 68053 | 185076 |
|  Ramelius Resources Ltd. | 41600 | 106804 |
|  Ramsay Health Care Ltd. | 6745 | 141616 |
|  REA Group Ltd. | 1814 | 277347 |
|  Reece Ltd. | 8185 | 61147 |
|  Region Group (REIT) | 46044 | 72817 |
|  Regis Resources Ltd. | 33584 | 133557 |
|  Rio Tinto Ltd. | 13070 | 1055367 |
|  Rio Tinto plc | 50984 | 3351280 |
|  Sandfire Resources Ltd.\* | 16614 | 156877 |
|  Santos Ltd. | 111023 | 494412 |
|  Scentre Group (REIT) | 178054 | 480699 |
|  SEEK Ltd. | 12793 | 241341 |
|  SGH Ltd. | 6817 | 225225 |

---

See Notes to Portfolio of Investments.

558

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Sigma Healthcare Ltd. | 44019 | $86508 |
|  SiteMinder Ltd.\* | 9363 | 44670 |
|  Sonic Healthcare Ltd. | 18670 | 264868 |
|  South32 Ltd. | 154119 | 279427 |
|  Steadfast Group Ltd. | 42645 | 167334 |
|  Stockland (REIT) | 84492 | 342159 |
|  Suncorp Group Ltd. | 38129 | 511159 |
|  Super Retail Group Ltd. | 5904 | 63523 |
|  Tabcorp Holdings Ltd. | 82114 | 55693 |
|  Technology One Ltd. | 11605 | 295335 |
|  Telix Pharmaceuticals Ltd.(x)\* | 10024 | 96641 |
|  Telstra Group Ltd. | 390804 | 1246428 |
|  TPG Telecom Ltd. | 14133 | 46946 |
|  Transurban Group | 105819 | 966282 |
|  Treasury Wine Estates Ltd. | 32710 | 153025 |
|  Vault Minerals Ltd.\* | 244918 | 106961 |
|  Ventia Services Group Pty. Ltd. | 28163 | 95227 |
|  Vicinity Ltd. (REIT) | 144176 | 240411 |
|  Virgin Australia International Holdings Pty. Ltd.(r)\* | 96120 |  |
|  Viva Energy Group Ltd.(m) | 41074 | 49329 |
|  Washington H Soul Pattinson & Co. Ltd.(x) | 11115 | 283086 |
|  Waypoint REIT Ltd. (REIT) | 18376 | 32830 |
|  WEB Travel Group Ltd.\* | 17419 | 45528 |
|  Wesfarmers Ltd. | 38800 | 2362518 |
|  West African Resources Ltd.(r)\* | 32110 | 64591 |
|  Westgold Resources Ltd. | 33944 | 100624 |
|  Westpac Banking Corp. | 116988 | 3016705 |
|  Whitehaven Coal Ltd. | 32179 | 140320 |
|  WiseTech Global Ltd. | 6712 | 400830 |
|  Woodside Energy Group Ltd. | 64907 | 989115 |
|  Woolworths Group Ltd. | 41324 | 730087 |
|  Worley Ltd. | 17400 | 161766 |
|  Yancoal Australia Ltd.(x) | 14565 | 51080 |
|  Zip Co. Ltd.\* | 45054 | 131770 |
|  |  | 68678143 |
|  **Austria (0.0%)†** |  |  |
|  Mondi plc | 22165 | 305251 |
|  **Belgium (0.3%)** |  |  |
|  Anheuser-Busch InBev SA/NV | 53700 | 3202761 |
|  **Brazil (0.0%)†** |  |  |
|  Karoon Energy Ltd. | 36590 | 39949 |
|  **Canada (0.0%)†** |  |  |
|  Champion Iron Ltd.(x) | 15522 | 47965 |
|  **Chile (0.1%)** |  |  |
|  Antofagasta plc | 16781 | 620867 |
|  **China (1.6%)** |  |  |
|  Alibaba Group Holding Ltd. | 296100 | 6734777 |
|  Prosus NV | 136248 | 9588120 |
|  |  | 16322897 |
|  **Denmark (0.7%)** |  |  |
|  DSV A/S | 33600 | 6682426 |
|  **Finland (0.3%)** |  |  |
|  Nordea Bank Abp | 171891 | 2820276 |
|  **France (13.5%)** |  |  |
|  Accor SA | 117197 | 5545084 |
|  Air Liquide SA | 30276 | 6286584 |
|  Airbus SE | 58997 | 13672995 |
|  AXA SA | 95630 | 4562832 |
|  BNP Paribas SA | 155706 | 14136437 |
|  Capgemini SE | 43600 | 6324349 |
|  Cie de Saint-Gobain SA | 26120 | 2810863 |
|  Danone SA | 87469 | 7615711 |
|  Dassault Systemes SE | 181500 | 6075198 |
|  Edenred SE | 180856 | 4289146 |
|  EssilorLuxottica SA | 16379 | 5307415 |
|  Hermes International SCA | 1838 | 4494914 |
|  Kering SA | 22250 | 7380944 |
|  L'Oreal SA | 12555 | 5431763 |
|  LVMH Moet Hennessy Louis Vuitton SE | 22280 | 13615153 |
|  Pernod Ricard SA | 71100 | 6973498 |
|  Publicis Groupe SA | 50305 | 4824069 |
|  Safran SA | 19605 | 6907477 |
|  TotalEnergies SE | 119394 | 7251228 |
|  Vinci SA | 30506 | 4224446 |
|  Worldline SA(m)(x)\* | 112451 | 363063 |
|  |  | 138093169 |
|  **Germany (13.8%)** |  |  |
|  adidas AG | 49939 | 10518380 |
|  Allianz SE (Registered) | 28976 | 12158488 |
|  Aumovio SE\* | 38160 | 1573437 |
|  BASF SE | 46713 | 2324812 |
|  Bayer AG (Registered) | 265218 | 8790235 |
|  Bayerische Motoren Werke AG | 82231 | 8248660 |
|  Brenntag SE | 112100 | 6699000 |
|  Continental AG | 76320 | 5028548 |
|  Daimler Truck Holding AG | 129600 | 5328534 |
|  Deutsche Bank AG (Registered) | 101968 | 3585480 |
|  Deutsche Boerse AG | 9855 | 2639177 |
|  Deutsche Post AG | 48348 | 2153587 |
|  Deutsche Telekom AG (Registered) | 184176 | 6272886 |
|  Fresenius Medical Care AG | 89100 | 4671787 |
|  Fresenius SE & Co. KGaA | 101400 | 5642907 |
|  Infineon Technologies AG | 68349 | 2664139 |
|  Mercedes-Benz Group AG | 86976 | 5460045 |
|  Muenchener Rueckversicherungs- Gesellschaft AG in Muenchen (Registered) | 6838 | 4362499 |
|  Rheinmetall AG | 2466 | 5745539 |
|  SAP SE | 53315 | 14265281 |
|  Siemens AG (Registered) | 39358 | 10590933 |
|  Siemens Energy AG\* | 37234 | 4346103 |
|  Siemens Healthineers AG(m) | 51900 | 2804146 |
|  thyssenkrupp AG | 288100 | 3948996 |
|  Volkswagen AG (Preference)(q) | 10792 | 1165165 |
|  |  | 140988764 |
|  **Hong Kong (0.7%)** |  |  |
|  Prudential plc | 486332 | 6808847 |
|  **India (0.4%)** |  |  |
|  Axis Bank Ltd. | 328000 | 4180313 |
|  **Indonesia (0.5%)** |  |  |
|  Bank Mandiri Persero Tbk. PT | 19357800 | 5110970 |
|  Nickel Industries Ltd. | 38546 | 18109 |
|  |  | 5129079 |
|  **Italy (2.6%)** |  |  |
|  Coca-Cola HBC AG | 10670 | 502827 |
|  Enel SpA | 406580 | 3850267 |
|  Eni SpA(x) | 112162 | 1957611 |
|  Ferrari NV | 6377 | 3081615 |
|  Intesa Sanpaolo SpA | 1253294 | 8260607 |
|  Ryanair Holdings plc (ADR) | 44700 | 2691834 |
|  UniCredit SpA | 81526 | 6170785 |
|  |  | 26515546 |
|  **Ivory Coast (0.0%)†** |  |  |
|  Endeavour Mining plc | 8773 | 365763 |
|  **Japan (16.8%)** |  |  |
|  77 Bank Ltd. (The)(x) | 1400 | 58514 |
|  A&D HOLON Holdings Co. Ltd. | 1200 | 16480 |
|  ABC-Mart, Inc. | 2400 | 47607 |

---

See Notes to Portfolio of Investments.

559

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Achilles Corp. | 1000 | $8283 |
|  Acom Co. Ltd.(x) | 13300 | 43295 |
|  ADEKA Corp. | 1500 | 33482 |
|  Advan Group Co. Ltd. | 1400 | 8331 |
|  Advance Create Co. Ltd.\* | 200 | 411 |
|  Advantest Corp.(x) | 15800 | 1565203 |
|  Adways, Inc. | 1700 | 3690 |
|  Aeon Co. Ltd.(x) | 63659 | 772681 |
|  Aeon Fantasy Co. Ltd.\* | 400 | 9845 |
|  AEON Financial Service Co. Ltd. | 1500 | 15301 |
|  Aeon Hokkaido Corp. | 900 | 5477 |
|  AGC, Inc. | 5100 | 166396 |
|  Ai Holdings Corp. | 600 | 11368 |
|  Aica Kogyo Co. Ltd. | 700 | 17627 |
|  Aichi Corp. | 2100 | 19412 |
|  Aichi Financial Group, Inc. | 32 | 676 |
|  Aichi Steel Corp.(x) | 2400 | 43720 |
|  Aichi Tokei Denki Co. Ltd. | 300 | 5676 |
|  Aida Engineering Ltd. | 3300 | 20887 |
|  Aiful Corp. | 6900 | 23282 |
|  Ain Holdings, Inc. | 200 | 9440 |
|  Aiphone Co. Ltd. | 800 | 15509 |
|  Air Water, Inc. | 4100 | 70558 |
|  Airport Facilities Co. Ltd. | 1200 | 8561 |
|  Airtech Japan Ltd. | 300 | 2564 |
|  Aisan Industry Co. Ltd. | 1500 | 19038 |
|  Aisin Corp. | 10244 | 177331 |
|  Aizawa Securities Group Co. Ltd. | 2200 | 19964 |
|  Ajinomoto Co., Inc. | 23200 | 666107 |
|  Akebono Brake Industry Co. Ltd.\* | 5700 | 4433 |
|  Akita Bank Ltd. (The) | 800 | 19393 |
|  Alconix Corp. | 800 | 11436 |
|  Alfresa Holdings Corp. | 3900 | 55816 |
|  Alleanza Holdings Co. Ltd. | 111 | 799 |
|  Alpen Co. Ltd. | 700 | 11147 |
|  Alpha Systems, Inc. | 360 | 9202 |
|  Alps Alpine Co. Ltd. | 3332 | 42279 |
|  ALSOK Co. Ltd. | 9900 | 74709 |
|  Altech Corp. | 1100 | 20782 |
|  Amada Co. Ltd. | 5500 | 67706 |
|  Amano Corp. | 600 | 17036 |
|  Amuse, Inc. | 600 | 8309 |
|  Amvis Holdings, Inc. | 2100 | 8549 |
|  ANA Holdings, Inc. | 14500 | 280519 |
|  and ST HD Co. Ltd. | 760 | 15407 |
|  Anest Iwata Corp. | 2000 | 21206 |
|  Anicom Holdings, Inc.(x) | 1000 | 5579 |
|  Anritsu Corp. | 2900 | 36974 |
|  Anycolor, Inc. | 500 | 19035 |
|  AOKI Holdings, Inc. | 2200 | 26435 |
|  Aoyama Trading Co. Ltd.(x) | 1600 | 26366 |
|  Aozora Bank Ltd.(x) | 4300 | 67312 |
|  Appier Group, Inc. | 3800 | 39828 |
|  Arakawa Chemical Industries Ltd. | 1000 | 7411 |
|  Arclands Corp. | 1400 | 18451 |
|  Arcs Co. Ltd. | 1500 | 32052 |
|  ARE Holdings, Inc. | 2400 | 34876 |
|  Argo Graphics, Inc.(x) | 3200 | 26788 |
|  Ariake Japan Co. Ltd. | 800 | 32187 |
|  Arisawa Manufacturing Co. Ltd. | 2000 | 21882 |
|  Artience Co. Ltd. | 200 | 4233 |
|  As One Corp. | 1300 | 21581 |
|  Asahi Co. Ltd. | 500 | 4744 |
|  Asahi Diamond Industrial Co. Ltd. | 4000 | 23505 |
|  Asahi Group Holdings Ltd. | 397100 | 4767563 |
|  Asahi Intecc Co. Ltd. | 7000 | 113673 |
|  Asahi Kasei Corp. | 33900 | 266941 |
|  Asahi Kogyosha Co. Ltd. | 800 | 16905 |
|  Asahi Net, Inc. | 1000 | 4794 |
|  ASAHI YUKIZAI Corp. | 800 | 24884 |
|  Asanuma Corp. | 4000 | 23153 |
|  Asics Corp. | 20000 | 523650 |
|  ASKA Pharmaceutical Holdings Co. Ltd. | 1000 | 15471 |
|  ASKUL Corp. | 1800 | 19085 |
|  Astellas Pharma, Inc.(x) | 44100 | 477277 |
|  Astena Holdings Co. Ltd. | 1000 | 3564 |
|  Autobacs Seven Co. Ltd. | 100 | 1092 |
|  Avex, Inc. | 2300 | 19721 |
|  Awa Bank Ltd. (The) | 100 | 2512 |
|  Axell Corp. | 400 | 3432 |
|  Axial Retailing, Inc. | 2800 | 22209 |
|  Azbil Corp. | 14800 | 140459 |
|  AZ-COM MARUWA Holdings, Inc. | 2000 | 14457 |
|  Bandai Namco Holdings, Inc. | 13800 | 459580 |
|  Bando Chemical Industries Ltd. | 2000 | 26561 |
|  Bank of Iwate Ltd. (The) | 800 | 21043 |
|  Bank of Nagoya Ltd. (The) | 297 | 7140 |
|  Bank of Saga Ltd. (The) | 700 | 14461 |
|  Bank of the Ryukyus Ltd. | 2500 | 24952 |
|  BayCurrent, Inc. | 4100 | 241201 |
|  Belc Co. Ltd. | 600 | 31362 |
|  Belluna Co. Ltd. | 3000 | 20753 |
|  Bic Camera, Inc.(x) | 3300 | 36507 |
|  BIPROGY, Inc. | 2100 | 85741 |
|  BML, Inc. | 1400 | 34980 |
|  Bookoff Group Holdings Ltd. | 700 | 7129 |
|  Bridgestone Corp. | 15100 | 699224 |
|  Brother Industries Ltd. | 6500 | 108938 |
|  Buffalo, Inc. | 600 | 14525 |
|  Bunka Shutter Co. Ltd.(x) | 100 | 1543 |
|  CAC Holdings Corp. | 700 | 10319 |
|  Calbee, Inc. | 2900 | 56006 |
|  Canon Electronics, Inc. | 1100 | 20306 |
|  Canon Marketing Japan, Inc. | 1200 | 48597 |
|  Canon, Inc.(x) | 23200 | 680383 |
|  Capcom Co. Ltd. | 10000 | 272036 |
|  Carlit Co. Ltd. | 1000 | 8872 |
|  Casio Computer Co. Ltd. | 1600 | 13156 |
|  Cawachi Ltd. | 800 | 16007 |
|  Central Glass Co. Ltd. | 1100 | 24360 |
|  Central Japan Railway Co. | 19300 | 553740 |
|  Central Security Patrols Co. Ltd. | 500 | 8666 |
|  Central Sports Co. Ltd. | 400 | 6548 |
|  Change Holdings, Inc.(x) | 1000 | 7715 |
|  Chiba Bank Ltd. (The)(x) | 15800 | 166082 |
|  Chiba Kogyo Bank Ltd. (The) | 2300 | 25164 |
|  Chino Corp. | 800 | 7032 |
|  Chiyoda Co. Ltd. | 1600 | 13005 |
|  Chiyoda Integre Co. Ltd. | 400 | 8899 |
|  Chofu Seisakusho Co. Ltd. | 1200 | 15685 |
|  Chubu Electric Power Co., Inc. | 18600 | 258905 |
|  Chubu Shiryo Co. Ltd. | 1200 | 14054 |
|  Chudenko Corp.(x) | 700 | 18650 |
|  Chugai Pharmaceutical Co. Ltd. | 15500 | 675822 |
|  Chugai Ro Co. Ltd. | 400 | 11793 |
|  Chugin Financial Group, Inc.(x) | 4200 | 61970 |
|  Chugoku Electric Power Co., Inc. (The)(x) | 9800 | 55884 |
|  Chugoku Marine Paints Ltd. | 600 | 14545 |
|  Chuo Spring Co. Ltd. | 400 | 8831 |
|  Citizen Watch Co. Ltd. | 2700 | 18312 |
|  CKD Corp. | 1100 | 20492 |
|  Cleanup Corp. | 1200 | 6427 |

---

See Notes to Portfolio of Investments.

560

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  CMK Corp. | 2400 | $5680 |
|  Coca-Cola Bottlers Japan Holdings, Inc. | 2473 | 44064 |
|  COLOPL, Inc.\* | 1700 | 5518 |
|  Colowide Co. Ltd.(x) | 2300 | 28461 |
|  Computer Engineering & Consulting Ltd. | 1600 | 25836 |
|  Computer Institute of Japan Ltd. | 4320 | 14314 |
|  COMSYS Holdings Corp. | 2414 | 60250 |
|  Core Corp. | 400 | 5783 |
|  Corona Corp., Class A | 500 | 3273 |
|  Cosel Co. Ltd. | 1800 | 14606 |
|  Cosmo Energy Holdings Co. Ltd. | 3000 | 72644 |
|  Cosmos Pharmaceutical Corp. | 1200 | 70109 |
|  Create Restaurants Holdings, Inc.(x) | 7800 | 40824 |
|  Create SD Holdings Co. Ltd. | 100 | 2245 |
|  Credit Saison Co. Ltd.(x) | 3500 | 93485 |
|  Cresco Ltd. | 1200 | 13405 |
|  CTI Engineering Co. Ltd. | 1400 | 28258 |
|  CyberAgent, Inc. | 10800 | 129701 |
|  Cybozu, Inc.(x) | 500 | 11529 |
|  Dai Nippon Printing Co. Ltd. | 9700 | 164995 |
|  Dai Nippon Toryo Co. Ltd. | 1400 | 12184 |
|  Daicel Corp.(x) | 5000 | 45627 |
|  Dai-Dan Co. Ltd. | 1000 | 41857 |
|  Daido Metal Co. Ltd. | 1000 | 6688 |
|  Daido Steel Co. Ltd. | 2700 | 23342 |
|  Daifuku Co. Ltd. | 9100 | 291857 |
|  Daihen Corp. | 600 | 33391 |
|  Daiichi Jitsugyo Co. Ltd. | 1200 | 22096 |
|  Dai-ichi Life Holdings, Inc. | 89300 | 704086 |
|  Daiichi Sankyo Co. Ltd. | 46200 | 1035622 |
|  Daiichikosho Co. Ltd. | 1800 | 20357 |
|  Daiki Aluminium Industry Co. Ltd. | 2000 | 15242 |
|  Daikin Industries Ltd. | 6500 | 750718 |
|  Daikoku Denki Co. Ltd.(x) | 500 | 8899 |
|  Dainichiseika Color & Chemicals Manufacturing Co. Ltd. | 800 | 21097 |
|  Daio Paper Corp.(x) | 2800 | 16870 |
|  Daiseki Co. Ltd. | 1279 | 29578 |
|  Daishi Hokuetsu Financial Group, Inc.(x) | 6300 | 61132 |
|  Daisyo Corp. | 600 | 4775 |
|  Daito Trust Construction Co. Ltd.(x) | 8000 | 175542 |
|  Daitron Co. Ltd. | 500 | 14843 |
|  Daiwa House Industry Co. Ltd. | 14800 | 532414 |
|  Daiwa Industries Ltd. | 1000 | 11232 |
|  Daiwa Securities Group, Inc.(x) | 35300 | 287036 |
|  Daiwabo Holdings Co. Ltd. | 3050 | 60893 |
|  DCM Holdings Co. Ltd. | 2500 | 27099 |
|  Dear Life Co. Ltd. | 1000 | 8020 |
|  DeNA Co. Ltd. | 2400 | 37643 |
|  Denka Co. Ltd. | 2600 | 40147 |
|  Denso Corp. | 48600 | 701797 |
|  Dentsu Group, Inc. | 5300 | 116046 |
|  Dentsu Soken, Inc. | 500 | 21943 |
|  Denyo Co. Ltd. | 1100 | 22062 |
|  Dexerials Corp. | 4500 | 69272 |
|  DIC Corp. | 1299 | 32061 |
|  Digital Arts, Inc.(x) | 400 | 20773 |
|  Digital Garage, Inc.(x) | 500 | 12222 |
|  dip Corp.(x) | 1200 | 18866 |
|  Disco Corp. | 2400 | 754803 |
|  DKK Co. Ltd. | 600 | 8102 |
|  DKS Co. Ltd. | 400 | 15985 |
|  DMG Mori Co. Ltd. | 3900 | 78456 |
|  Doshisha Co. Ltd. | 1000 | 19103 |
|  Doutor Nichires Holdings Co. Ltd. | 500 | 8912 |
|  Dowa Holdings Co. Ltd. | 900 | 32851 |
|  DTS Corp. | 4000 | 35433 |
|  Duskin Co. Ltd. | 1400 | 36457 |
|  DyDo Group Holdings, Inc.(x) | 1000 | 17013 |
|  Eagle Industry Co. Ltd. | 1000 | 17737 |
|  Earth Corp. | 100 | 3489 |
|  East Japan Railway Co.(x) | 28500 | 697637 |
|  Ebara Corp. | 10000 | 228759 |
|  Ebara Jitsugyo Co. Ltd. | 600 | 18643 |
|  Eco's Co. Ltd. | 400 | 7655 |
|  EDION Corp.(x) | 2700 | 39527 |
|  eGuarantee, Inc.(x) | 1600 | 17700 |
|  Ehime Bank Ltd. (The) | 1400 | 11654 |
|  Eiken Chemical Co. Ltd.(x) | 100 | 1619 |
|  Eisai Co. Ltd.(x) | 6800 | 228759 |
|  Eizo Corp. | 200 | 2962 |
|  Elecom Co. Ltd. | 1400 | 17476 |
|  Electric Power Development Co. Ltd. | 3700 | 69416 |
|  en, Inc. | 1100 | 12132 |
|  ENEOS Holdings, Inc. | 76150 | 483980 |
|  Enplas Corp. | 200 | 7560 |
|  eRex Co. Ltd. | 1900 | 9456 |
|  Eslead Corp. | 500 | 18393 |
|  ESPEC Corp. | 1200 | 27914 |
|  Exedy Corp. | 500 | 17581 |
|  EXEO Group, Inc. | 6116 | 88586 |
|  Ezaki Glico Co. Ltd. | 900 | 30812 |
|  FALCO HOLDINGS Co. Ltd. | 600 | 10313 |
|  FANUC Corp. | 23600 | 680145 |
|  Fast Retailing Co. Ltd. | 3400 | 1035507 |
|  FCC Co. Ltd. | 300 | 6522 |
|  Feed One Co. Ltd. | 1504 | 11523 |
|  FIDEA Holdings Co. Ltd. | 700 | 7734 |
|  Financial Partners Group Co. Ltd.(x) | 1800 | 28956 |
|  FINDEX, Inc. | 1700 | 10127 |
|  Food & Life Cos. Ltd. | 3200 | 167417 |
|  Foster Electric Co. Ltd. | 1100 | 17391 |
|  FP Corp. | 800 | 13616 |
|  France Bed Holdings Co. Ltd.(x) | 1600 | 13935 |
|  Fudo Tetra Corp. | 980 | 17746 |
|  Fuji Co. Ltd. | 1300 | 17757 |
|  Fuji Corp. | 1700 | 31038 |
|  Fuji Corp. Ltd. | 1200 | 6581 |
|  Fuji Electric Co. Ltd.(x) | 3100 | 208448 |
|  Fuji Kyuko Co. Ltd. | 1500 | 26098 |
|  Fuji Media Holdings, Inc. | 5200 | 123174 |
|  Fuji Oil Co. Ltd. | 3300 | 10711 |
|  Fuji Oil Co. Ltd./Osaka | 1600 | 38830 |
|  Fuji Seal International, Inc. | 800 | 15412 |
|  Fujibo Holdings, Inc. | 500 | 21943 |
|  Fujicco Co. Ltd. | 1000 | 11124 |
|  FUJIFILM Holdings Corp. | 30010 | 746978 |
|  Fujikura Composites, Inc. | 800 | 10354 |
|  Fujikura Kasei Co. Ltd. | 1600 | 6589 |
|  Fujikura Ltd. | 5500 | 537597 |
|  Fujimi, Inc. | 1800 | 26364 |
|  Fujita Kanko, Inc. | 300 | 21280 |
|  Fujitec Co. Ltd. | 1400 | 53459 |
|  Fujitsu Ltd. | 205400 | 4838987 |
|  Fujiya Co. Ltd. | 700 | 12307 |
|  FuKoKu Co. Ltd. | 500 | 6268 |
|  Fukuda Corp. | 200 | 9534 |
|  Fukui Bank Ltd. (The) | 1000 | 14302 |
|  Fukui Computer Holdings, Inc. | 400 | 9034 |
|  Fukuoka Financial Group, Inc. | 4784 | 143567 |
|  Fukuyama Transporting Co. Ltd. | 400 | 9954 |

---

See Notes to Portfolio of Investments.

561

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  FULLCAST Holdings Co. Ltd. | 1000 | $12009 |
|  Funai Soken Holdings, Inc. | 540 | 9435 |
|  Furukawa Co. Ltd. | 100 | 1942 |
|  Furukawa Electric Co. Ltd.(x) | 1800 | 110908 |
|  Fuso Pharmaceutical Industries Ltd. | 400 | 5783 |
|  Futaba Corp. | 2100 | 9429 |
|  Futaba Industrial Co. Ltd. | 3500 | 22768 |
|  Future Corp. | 2000 | 31389 |
|  Fuyo General Lease Co. Ltd. | 1800 | 53859 |
|  G-7 Holdings, Inc. | 1200 | 10248 |
|  Gakken Holdings Co. Ltd. | 2000 | 14268 |
|  Gakujo Co. Ltd. | 400 | 4671 |
|  Galilei Co. Ltd. | 1200 | 30754 |
|  Gecoss Corp. | 800 | 7514 |
|  Genki Global Dining Concepts Corp.(x) | 600 | 13632 |
|  Geo Holdings Corp. | 300 | 3345 |
|  giftee, Inc. | 1900 | 15469 |
|  GLOBERIDE, Inc. | 1000 | 16472 |
|  Glory Ltd.(x) | 200 | 4954 |
|  GMO internet group, Inc. | 1600 | 39166 |
|  GMO Payment Gateway, Inc.(x) | 900 | 50494 |
|  Godo Steel Ltd. | 700 | 18839 |
|  Goldcrest Co. Ltd. | 1100 | 24955 |
|  Goldwin, Inc. | 3900 | 66431 |
|  GREE Holdings, Inc. | 5100 | 15139 |
|  GS Yuasa Corp.(x) | 1300 | 30767 |
|  GSI Creos Corp. | 600 | 9721 |
|  Gun-Ei Chemical Industry Co. Ltd. | 300 | 6816 |
|  GungHo Online Entertainment, Inc. | 1100 | 20128 |
|  Gunma Bank Ltd. (The)(x) | 9700 | 108324 |
|  Gunze Ltd. | 500 | 12780 |
|  Gurunavi, Inc.\* | 2000 | 2989 |
|  H.U. Group Holdings, Inc.(x) | 1400 | 32329 |
|  H2O Retailing Corp. | 2660 | 39050 |
|  Hachijuni Bank Ltd. (The)(x) | 11616 | 121434 |
|  Hakudo Co. Ltd. | 400 | 6053 |
|  Hakuhodo DY Holdings, Inc. | 7400 | 59471 |
|  Hakuto Co. Ltd.(x) | 700 | 18318 |
|  Hamakyorex Co. Ltd.(x) | 2400 | 25463 |
|  Hamamatsu Photonics KK | 8000 | 86824 |
|  Hankyu Hanshin Holdings, Inc. | 7100 | 209517 |
|  Hanwa Co. Ltd.(x) | 400 | 17040 |
|  Happinet Corp. | 600 | 27995 |
|  Hard Off Corp. Co. Ltd. | 500 | 6204 |
|  Harima Chemicals Group, Inc. | 1100 | 6613 |
|  Haseko Corp.(x) | 3000 | 51253 |
|  Hazama Ando Corp. | 4020 | 45505 |
|  Heiwa Corp.(x) | 1820 | 25894 |
|  Heiwa Real Estate Co. Ltd.(x) | 1400 | 22361 |
|  Heiwado Co. Ltd. | 500 | 9832 |
|  Hibiya Engineering Ltd. | 400 | 11955 |
|  Hiday Hidaka Corp.(x) | 1640 | 39757 |
|  Hikari Tsushin, Inc. | 500 | 139568 |
|  Hino Motors Ltd.\* | 4200 | 10988 |
|  Hirakawa Hewtech Corp. | 420 | 5885 |
|  Hirogin Holdings, Inc.(x) | 5900 | 57689 |
|  Hirose Electric Co. Ltd. | 723 | 90103 |
|  HIS Co. Ltd. | 3100 | 29452 |
|  Hisaka Works Ltd. | 1000 | 9122 |
|  Hisamitsu Pharmaceutical Co., Inc. | 600 | 16708 |
|  Hitachi Construction Machinery Co. Ltd.(x) | 1700 | 54419 |
|  Hitachi Ltd. | 128840 | 3423885 |
|  Hodogaya Chemical Co. Ltd. | 400 | 4850 |
|  Hokkaido Electric Power Co., Inc.(x) | 7100 | 52043 |
|  Hokkaido Gas Co. Ltd. | 2000 | 9277 |
|  Hokkan Holdings Ltd. | 600 | 9064 |
|  Hokko Chemical Industry Co. Ltd. | 1000 | 11455 |
|  Hokkoku Financial Holdings, Inc. | 5000 | 23261 |
|  Hokuetsu Corp. | 2300 | 15490 |
|  Hokuhoku Financial Group, Inc. | 2900 | 75949 |
|  Hokuriku Electric Power Co. | 3300 | 18865 |
|  Hokuto Corp. | 1400 | 18072 |
|  Honda Motor Co. Ltd.(x) | 118900 | 1230929 |
|  Honeys Holdings Co. Ltd.(x) | 1080 | 11283 |
|  Hoosiers Holdings Co. Ltd. | 2000 | 17527 |
|  Horiba Ltd. | 900 | 76316 |
|  Hoshizaki Corp. | 3100 | 116466 |
|  Hosiden Corp.(x) | 600 | 9547 |
|  Hosokawa Micron Corp.(x) | 800 | 31484 |
|  House Foods Group, Inc. | 1400 | 27458 |
|  Hoya Corp. | 9700 | 1342986 |
|  Hulic Co. Ltd. | 11500 | 125976 |
|  Hyakugo Bank Ltd. (The)(x) | 4000 | 24749 |
|  Hyakujushi Bank Ltd. (The) | 500 | 17412 |
|  Ibiden Co. Ltd.(x) | 2900 | 176175 |
|  Ichibanya Co. Ltd.(x) | 4000 | 25371 |
|  Ichigo, Inc. | 10100 | 28821 |
|  Ichikoh Industries Ltd. | 2000 | 5991 |
|  Ichinen Holdings Co. Ltd. | 1300 | 17696 |
|  Ichiyoshi Securities Co. Ltd. | 2700 | 15428 |
|  Icom, Inc. | 600 | 12232 |
|  Idec Corp.(x) | 1400 | 22929 |
|  Idemitsu Kosan Co. Ltd.(x) | 22210 | 152587 |
|  IDOM, Inc. | 3300 | 23475 |
|  IHI Corp. | 28000 | 522568 |
|  Iida Group Holdings Co. Ltd.(x) | 4076 | 65088 |
|  Iino Kaiun Kaisha Ltd.(x) | 400 | 3202 |
|  Inaba Denki Sangyo Co. Ltd. | 1500 | 42682 |
|  Inaba Seisakusho Co. Ltd. | 600 | 6942 |
|  Inabata & Co. Ltd.(x) | 1600 | 37759 |
|  Ines Corp. | 1600 | 21812 |
|  I-Net Corp. | 550 | 6434 |
|  Infomart Corp. | 6800 | 15358 |
|  INFRONEER Holdings, Inc.(x) | 6012 | 62565 |
|  Inpex Corp. | 22000 | 397647 |
|  Intage Holdings, Inc. | 300 | 3489 |
|  Internet Initiative Japan, Inc. | 2900 | 51348 |
|  Inui Global Logistics Co. Ltd. | 490 | 5434 |
|  Iseki & Co. Ltd. | 1300 | 19761 |
|  Isetan Mitsukoshi Holdings Ltd.(x) | 8400 | 155237 |
|  Ishihara Sangyo Kaisha Ltd. | 200 | 3135 |
|  Isuzu Motors Ltd. | 14400 | 182039 |
|  Itfor, Inc. | 1300 | 13230 |
|  Ito En Ltd. | 800 | 18831 |
|  ITOCHU Corp. | 35700 | 2034068 |
|  Itochu Enex Co. Ltd. | 400 | 5350 |
|  Itochu-Shokuhin Co. Ltd. | 300 | 20773 |
|  Itoham Yonekyu Holdings, Inc.(x) | 14 | 539 |
|  Itoki Corp. | 800 | 13270 |
|  IwaiCosmo Holdings, Inc. | 1100 | 20232 |
|  Iwatani Corp.(x) | 5600 | 61231 |
|  Iyogin Holdings, Inc.(x) | 5600 | 85031 |
|  Izumi Co. Ltd. | 400 | 8831 |
|  J Front Retailing Co. Ltd.(x) | 6600 | 110234 |
|  Jaccs Co. Ltd. | 700 | 20117 |
|  JAFCO Group Co. Ltd.(x) | 2200 | 38552 |
|  JANOME Corp. | 1200 | 9429 |
|  Japan Airlines Co. Ltd. | 11600 | 233985 |
|  Japan Airport Terminal Co. Ltd.(x) | 2100 | 67068 |
|  Japan Aviation Electronics Industry Ltd.(x) | 1700 | 28911 |
|  Japan Cash Machine Co. Ltd.(x) | 1100 | 7349 |

---

See Notes to Portfolio of Investments.

562

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Japan Communications, Inc.\* | 1100 | $1086 |
|  Japan Display, Inc.(x)\* | 17300 | 2457 |
|  Japan Electronic Materials Corp.(x) | 500 | 11580 |
|  Japan Elevator Service Holdings Co. Ltd. | 4400 | 55846 |
|  Japan Exchange Group, Inc. | 31300 | 349753 |
|  Japan Lifeline Co. Ltd. | 1800 | 18343 |
|  Japan Material Co. Ltd. | 1900 | 23486 |
|  Japan Medical Dynamic Marketing, Inc. | 1000 | 3415 |
|  Japan Petroleum Exploration Co. Ltd.(x) | 2900 | 25395 |
|  Japan Post Bank Co. Ltd. | 39800 | 488333 |
|  Japan Post Holdings Co. Ltd. | 51200 | 508936 |
|  Japan Post Insurance Co. Ltd. | 5500 | 155942 |
|  Japan Property Management Center Co. Ltd. | 200 | 1782 |
|  Japan Securities Finance Co. Ltd. | 2346 | 29554 |
|  Japan Steel Works Ltd. (The)(x) | 1700 | 103459 |
|  Japan Tobacco, Inc. | 30000 | 986307 |
|  Japan Transcity Corp. | 2000 | 15580 |
|  Japan Wool Textile Co. Ltd. (The) | 400 | 4503 |
|  JBCC Holdings, Inc. | 700 | 6191 |
|  JCR Pharmaceuticals Co. Ltd. | 3500 | 15289 |
|  JCU Corp. | 800 | 24695 |
|  Jeol Ltd. | 1200 | 41229 |
|  JFE Holdings, Inc.(x) | 14244 | 174962 |
|  JGC Holdings Corp. | 6600 | 67390 |
|  JINS Holdings, Inc. | 500 | 30970 |
|  JK Holdings Co. Ltd. | 1100 | 9997 |
|  JMDC, Inc. | 800 | 24235 |
|  JMS Co. Ltd. | 500 | 1488 |
|  J-Oil Mills, Inc. | 1000 | 13889 |
|  Joshin Denki Co. Ltd. | 1000 | 17399 |
|  JSP Corp. | 800 | 10500 |
|  JTEKT Corp. | 3400 | 33808 |
|  Juki Corp.\* | 1400 | 4080 |
|  Juroku Financial Group, Inc. | 400 | 14931 |
|  Justsystems Corp. | 900 | 29181 |
|  JVCKenwood Corp. | 5800 | 45259 |
|  K&O Energy Group, Inc. | 500 | 10954 |
|  Kadokawa Corp. | 3468 | 84587 |
|  Kaga Electronics Co. Ltd. | 800 | 19177 |
|  Kagome Co. Ltd. | 2100 | 40882 |
|  Kajima Corp. | 10800 | 315196 |
|  Kakaku.com, Inc. | 3500 | 60091 |
|  Kaken Pharmaceutical Co. Ltd.(x) | 500 | 12351 |
|  Kamei Corp. | 1000 | 19556 |
|  Kamigumi Co. Ltd. | 1900 | 57712 |
|  Kanaden Corp. | 1000 | 14058 |
|  Kanadevia Corp. | 5300 | 36663 |
|  Kanagawa Chuo Kotsu Co. Ltd. | 200 | 5024 |
|  Kanamoto Co. Ltd. | 1000 | 24343 |
|  Kandenko Co. Ltd. | 2900 | 79537 |
|  Kaneka Corp.(x) | 400 | 11382 |
|  Kanematsu Corp. | 2500 | 52676 |
|  Kansai Electric Power Co., Inc. (The) | 25400 | 363863 |
|  Kansai Paint Co. Ltd.(x) | 3800 | 61965 |
|  Kanto Denka Kogyo Co. Ltd.(x) | 2000 | 12970 |
|  Kao Corp. | 11900 | 519099 |
|  Kappa Create Co. Ltd.(x) | 1800 | 19195 |
|  Kasumigaseki Capital Co. Ltd. | 200 | 12983 |
|  Katakura Industries Co. Ltd. | 1400 | 26677 |
|  Katitas Co. Ltd.(x) | 1700 | 32222 |
|  Kato Sangyo Co. Ltd. | 100 | 3942 |
|  KAWADA TECHNOLOGIES, Inc. | 600 | 16127 |
|  Kawai Musical Instruments Manufacturing Co. Ltd. | 400 | 6978 |
|  Kawasaki Heavy Industries Ltd.(x) | 3900 | 257653 |
|  Kawasaki Kisen Kaisha Ltd.(x) | 11491 | 163641 |
|  KDDI Corp. | 70700 | 1128494 |
|  KeePer Technical Laboratory Co. Ltd.(x) | 400 | 10116 |
|  Keihan Holdings Co. Ltd.(x) | 3200 | 72705 |
|  Keihanshin Building Co. Ltd. | 1400 | 15516 |
|  Keikyu Corp.(x) | 5600 | 56839 |
|  Keio Corp. | 2500 | 64662 |
|  Keisei Electric Railway Co. Ltd.(x) | 8792 | 81538 |
|  Keiyo Bank Ltd. (The) | 2500 | 21469 |
|  Kewpie Corp. | 2400 | 65548 |
|  Key Coffee, Inc.(x) | 1200 | 16083 |
|  Keyence Corp. | 5060 | 1888027 |
|  KH Neochem Co. Ltd. | 1500 | 28279 |
|  Kikkoman Corp.(x) | 15100 | 128143 |
|  Kimura Chemical Plants Co. Ltd. | 1100 | 7498 |
|  Kinden Corp. | 3500 | 119779 |
|  King Jim Co. Ltd. | 1000 | 5700 |
|  Kintetsu Department Store Co. Ltd. | 100 | 1371 |
|  Kintetsu Group Holdings Co. Ltd.(x) | 5200 | 108406 |
|  Kioxia Holdings Corp.\* | 2600 | 85708 |
|  Kirin Holdings Co. Ltd. | 21300 | 312187 |
|  Kisoji Co. Ltd.(x) | 1400 | 23165 |
|  Kissei Pharmaceutical Co. Ltd. | 1200 | 34892 |
|  Kitagawa Corp. | 500 | 5562 |
|  Kita-Nippon Bank Ltd. (The) | 300 | 7841 |
|  Kitz Corp. | 800 | 9142 |
|  Kiyo Bank Ltd. (The)(x) | 1900 | 37721 |
|  KNT-CT Holdings Co. Ltd.\* | 400 | 4412 |
|  Koa Corp.(x) | 1500 | 11827 |
|  Koatsu Gas Kogyo Co. Ltd. | 1000 | 7019 |
|  Kobayashi Pharmaceutical Co. Ltd. | 1700 | 61707 |
|  Kobe Bussan Co. Ltd. | 4600 | 126412 |
|  Kobe Steel Ltd.(x) | 10400 | 122963 |
|  Koei Tecmo Holdings Co. Ltd. | 3524 | 45871 |
|  Kohnan Shoji Co. Ltd. | 1100 | 31352 |
|  Kohsoku Corp. | 700 | 13859 |
|  Koito Manufacturing Co. Ltd.(x) | 4000 | 60642 |
|  Kojima Co. Ltd. | 1500 | 11472 |
|  Kokusai Electric Corp. | 3100 | 88020 |
|  Kokuyo Co. Ltd. | 6000 | 35744 |
|  Komatsu Ltd. | 134990 | 4710068 |
|  Komatsu Matere Co. Ltd. | 2000 | 11441 |
|  Komatsu Wall Industry Co. Ltd. | 800 | 13897 |
|  KOMEDA Holdings Co. Ltd. | 1400 | 29442 |
|  Komeri Co. Ltd.(x) | 100 | 2231 |
|  Komori Corp. | 500 | 5139 |
|  Konami Group Corp. | 1900 | 274301 |
|  Konica Minolta, Inc. | 16600 | 59279 |
|  Kosaido Holdings Co. Ltd.(x) | 4500 | 13419 |
|  Kose Corp. | 1500 | 60138 |
|  Kotobuki Spirits Co. Ltd.(x) | 4000 | 49092 |
|  Kourakuen Corp.\* | 700 | 5136 |
|  Kraftia Corp. | 1200 | 58051 |
|  Krosaki Harima Corp. | 800 | 22288 |
|  KRS Corp. | 600 | 12922 |
|  K's Holdings Corp.(x) | 2300 | 24853 |
|  Kubota Corp. | 26600 | 335097 |
|  Kumagai Gumi Co. Ltd. | 4000 | 33918 |
|  Kumiai Chemical Industry Co. Ltd. | 1340 | 7494 |
|  Kura Sushi, Inc.(x) | 1200 | 27589 |
|  Kurabo Industries Ltd. | 200 | 9548 |
|  Kuraray Co. Ltd.(x) | 8200 | 94456 |
|  Kureha Corp.(x) | 600 | 15499 |

---

See Notes to Portfolio of Investments.

563

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Kurimoto Ltd.(x) | 3000 | $37468 |
|  Kurita Water Industries Ltd.(x) | 2600 | 88768 |
|  Kusuri no Aoki Holdings Co. Ltd.(x) | 1300 | 35206 |
|  KYB Corp.(x) | 1400 | 37157 |
|  Kyocera Corp. | 30700 | 413008 |
|  Kyodo Printing Co. Ltd.(x) | 1200 | 12212 |
|  Kyoei Steel Ltd. | 1300 | 20148 |
|  Kyokuto Boeki Kaisha Ltd. | 400 | 4920 |
|  Kyokuto Kaihatsu Kogyo Co. Ltd. | 600 | 11040 |
|  Kyokuto Securities Co. Ltd. | 1600 | 16391 |
|  Kyokuyo Co. Ltd. | 500 | 16719 |
|  Kyorin Pharmaceutical Co. Ltd. | 400 | 4003 |
|  Kyoritsu Maintenance Co. Ltd.(x) | 800 | 17284 |
|  Kyosan Electric Manufacturing Co. Ltd. | 2000 | 7073 |
|  Kyoto Financial Group, Inc.(x) | 6800 | 144658 |
|  Kyowa Kirin Co. Ltd. | 6800 | 105689 |
|  Kyushu Electric Power Co., Inc.(x) | 10700 | 107047 |
|  Kyushu Financial Group, Inc. | 5970 | 36772 |
|  Kyushu Railway Co. | 4100 | 108651 |
|  LAND Co. Ltd. | 1300 | 88 |
|  Lasertec Corp. | 1900 | 260875 |
|  LEC, Inc. | 1200 | 9413 |
|  Leopalace21 Corp. | 7300 | 35245 |
|  Life Corp. | 1400 | 23923 |
|  Link And Motivation, Inc. | 5900 | 21145 |
|  Lintec Corp. | 900 | 22152 |
|  Lion Corp. | 6100 | 63708 |
|  Lixil Corp.(x) | 6540 | 80487 |
|  Look Holdings, Inc. | 400 | 7170 |
|  LY Corp. | 77200 | 248537 |
|  M&A Capital Partners Co. Ltd. | 900 | 19505 |
|  M3, Inc.(x) | 11500 | 185543 |
|  Mabuchi Motor Co. Ltd. | 3200 | 56044 |
|  Macnica Holdings, Inc.(x) | 3150 | 43730 |
|  Maezawa Kasei Industries Co. Ltd. | 900 | 13170 |
|  Maezawa Kyuso Industries Co. Ltd. | 800 | 8060 |
|  Makino Milling Machine Co. Ltd. | 500 | 38746 |
|  Makita Corp. | 6300 | 204739 |
|  Management Solutions Co. Ltd. | 300 | 2988 |
|  Mandom Corp. | 1400 | 21111 |
|  Mani, Inc. | 3300 | 28395 |
|  Mars Group Holdings Corp. | 600 | 12456 |
|  Marubeni Corp. | 43600 | 1090258 |
|  Marubun Corp. | 900 | 7461 |
|  Marudai Food Co. Ltd. | 1200 | 16440 |
|  Maruha Nichiro Corp. | 1300 | 30161 |
|  Marui Group Co. Ltd.(x) | 2800 | 60095 |
|  Maruichi Steel Tube Ltd. | 1500 | 13059 |
|  Marusan Securities Co. Ltd. | 3900 | 24974 |
|  Maruwa Co. Ltd. | 200 | 52338 |
|  Maruzen Showa Unyu Co. Ltd.(x) | 100 | 4700 |
|  Matsuda Sangyo Co. Ltd. | 800 | 22666 |
|  Matsui Construction Co. Ltd. | 1000 | 9555 |
|  Matsui Securities Co. Ltd. | 1000 | 5193 |
|  MatsukiyoCocokara & Co. | 8760 | 177943 |
|  Matsuya Co. Ltd. | 2200 | 21422 |
|  Matsuyafoods Holdings Co. Ltd. | 500 | 20286 |
|  Max Co. Ltd. | 700 | 26696 |
|  Mazda Motor Corp.(x) | 14500 | 105991 |
|  Mebuki Financial Group, Inc.(x) | 24660 | 157780 |
|  MEC Co. Ltd.(x) | 800 | 20773 |
|  Medical System Network Co. Ltd. | 400 | 1287 |
|  Medipal Holdings Corp. | 5700 | 98228 |
|  Medley, Inc.\* | 900 | 14819 |
|  Megachips Corp. | 300 | 15073 |
|  Megmilk Snow Brand Co. Ltd. | 400 | 8009 |
|  Meidensha Corp. | 800 | 31863 |
|  Meiji Holdings Co. Ltd.(x) | 6900 | 143053 |
|  Meiko Electronics Co. Ltd. | 500 | 33235 |
|  Meiko Network Japan Co. Ltd. | 900 | 4443 |
|  MEITEC Group Holdings, Inc.(x) | 1600 | 34535 |
|  Meito Co. Ltd.(x) | 600 | 8999 |
|  Meiwa Corp. | 900 | 5149 |
|  Meiwa Estate Co. Ltd. | 700 | 5259 |
|  Menicon Co. Ltd. | 2900 | 22296 |
|  Mercari, Inc.\* | 3600 | 55405 |
|  Micronics Japan Co. Ltd.(x) | 1100 | 43737 |
|  Midac Holdings Co. Ltd. | 1500 | 20215 |
|  Milbon Co. Ltd. | 1140 | 19110 |
|  Minebea Mitsumi, Inc. | 8737 | 164803 |
|  Ministop Co. Ltd. | 900 | 12184 |
|  Mirait One Corp. | 1100 | 21459 |
|  Mirarth Holdings, Inc. | 4400 | 11604 |
|  MISUMI Group, Inc. | 7300 | 113855 |
|  Mito Securities Co. Ltd. | 3000 | 11178 |
|  Mitsuba Corp. | 2000 | 13051 |
|  Mitsubishi Chemical Group Corp. | 38520 | 221740 |
|  Mitsubishi Corp. | 98130 | 2343017 |
|  Mitsubishi Electric Corp. | 51500 | 1324370 |
|  Mitsubishi Estate Co. Ltd. | 163700 | 3766921 |
|  Mitsubishi Gas Chemical Co., Inc.(x) | 4500 | 80409 |
|  Mitsubishi HC Capital, Inc. | 18620 | 153923 |
|  Mitsubishi Heavy Industries Ltd. | 88600 | 2323964 |
|  Mitsubishi Kakoki Kaisha Ltd. | 900 | 16316 |
|  Mitsubishi Logisnext Co. Ltd. | 1000 | 12273 |
|  Mitsubishi Logistics Corp. | 6000 | 49194 |
|  Mitsubishi Materials Corp.(x) | 2300 | 43205 |
|  Mitsubishi Motors Corp.(x) | 26200 | 71220 |
|  Mitsubishi Pencil Co. Ltd. | 100 | 1465 |
|  Mitsubishi Research Institute, Inc. | 400 | 14011 |
|  Mitsubishi Steel Manufacturing Co. Ltd. | 700 | 8056 |
|  Mitsubishi UFJ Financial Group, Inc. | 316900 | 5130058 |
|  Mitsuboshi Belting Ltd. | 400 | 10021 |
|  Mitsui & Co. Ltd. | 76300 | 1898664 |
|  Mitsui Chemicals, Inc.(x) | 3931 | 98405 |
|  Mitsui DM Sugar Co. Ltd. | 1000 | 21638 |
|  Mitsui E&S Co. Ltd.(x) | 2300 | 69598 |
|  Mitsui Fudosan Co. Ltd. | 67200 | 732959 |
|  Mitsui High-Tec, Inc. | 4000 | 20989 |
|  Mitsui Kinzoku Co. Ltd. | 1600 | 124475 |
|  Mitsui Matsushima Holdings Co. Ltd.(x) | 500 | 5024 |
|  Mitsui OSK Lines Ltd.(x) | 9800 | 297807 |
|  Mitsui-Soko Holdings Co. Ltd. | 1200 | 33553 |
|  Miura Co. Ltd. | 3000 | 59022 |
|  Miyaji Engineering Group, Inc.(x) | 1600 | 21876 |
|  Miyakoshi Holdings, Inc.(x)\* | 300 | 1992 |
|  Miyazaki Bank Ltd. (The) | 800 | 24749 |
|  Mizuho Financial Group, Inc. | 66037 | 2227356 |
|  Mizuho Leasing Co. Ltd. | 4200 | 37006 |
|  Mizuno Corp.(x) | 2100 | 37929 |
|  Mochida Pharmaceutical Co. Ltd. | 1000 | 21469 |
|  Modec, Inc. | 1000 | 55922 |
|  Monex Group, Inc.(x) | 7000 | 39524 |
|  Money Forward, Inc.\* | 700 | 28339 |
|  Monogatari Corp. (The) | 1400 | 40423 |
|  MonotaRO Co. Ltd. | 7700 | 112258 |
|  Morinaga & Co. Ltd. | 1800 | 31884 |
|  Morinaga Milk Industry Co. Ltd. | 1000 | 23424 |
|  Morozoff Ltd. | 1200 | 12821 |
|  Mory Industries, Inc. | 2000 | 12983 |
|  MOS Food Services, Inc. | 100 | 2678 |

---

See Notes to Portfolio of Investments.

564

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  MrMax Holdings Ltd. | 1200 | $7084 |
|  MS&AD Insurance Group Holdings, Inc. | 36000 | 816959 |
|  Murata Manufacturing Co. Ltd. | 43585 | 829790 |
|  Musashi Seimitsu Industry Co. Ltd. | 1100 | 25662 |
|  Musashino Bank Ltd. (The)(x) | 300 | 8226 |
|  Nabtesco Corp. | 3800 | 86055 |
|  NAC Co. Ltd. | 800 | 2975 |
|  Nachi-Fujikoshi Corp. | 500 | 12628 |
|  Nagaileben Co. Ltd. | 1200 | 16310 |
|  Nagano Keiki Co. Ltd. | 800 | 11144 |
|  Nagase & Co. Ltd. | 2200 | 47634 |
|  Nagawa Co. Ltd. | 400 | 18068 |
|  Nagoya Railroad Co. Ltd. | 5400 | 64540 |
|  Nakabayashi Co. Ltd. | 1000 | 4098 |
|  Nakamuraya Co. Ltd. | 300 | 6299 |
|  Nakayama Steel Works Ltd. | 600 | 2597 |
|  Namura Shipbuilding Co. Ltd.(x) | 1024 | 23646 |
|  Nankai Electric Railway Co. Ltd. | 1300 | 24526 |
|  Nanto Bank Ltd. (The) | 1100 | 37861 |
|  Natori Co. Ltd. | 600 | 8118 |
|  NEC Capital Solutions Ltd. | 300 | 7952 |
|  NEC Corp. | 35800 | 1147217 |
|  Net Protections Holdings, Inc.\* | 100 | 596 |
|  Neturen Co. Ltd. | 1700 | 14013 |
|  Nexon Co. Ltd. | 12100 | 265671 |
|  Nextage Co. Ltd. | 2000 | 31944 |
|  NGK Insulators Ltd. | 3700 | 62036 |
|  NH Foods Ltd. | 2200 | 87235 |
|  NHK Spring Co. Ltd.(x) | 5700 | 85798 |
|  Nichias Corp.(x) | 1500 | 56375 |
|  Nichiban Co. Ltd. | 500 | 6677 |
|  Nichicon Corp. | 700 | 7015 |
|  Nichiha Corp. | 1200 | 22355 |
|  Nichirei Corp.(x) | 4600 | 53999 |
|  Nichireki Group Co. Ltd. | 1000 | 17879 |
|  Nidec Corp. | 23110 | 411537 |
|  Nifco, Inc. | 2300 | 69520 |
|  Nihon Chouzai Co. Ltd. | 600 | 15823 |
|  Nihon Dempa Kogyo Co. Ltd. | 900 | 5666 |
|  Nihon Kohden Corp.(x) | 5200 | 59442 |
|  Nihon M&A Center Holdings, Inc.(x) | 7200 | 36773 |
|  Nihon Nohyaku Co. Ltd. | 2000 | 13578 |
|  Nihon Parkerizing Co. Ltd. | 3100 | 28697 |
|  Nihon Trim Co. Ltd. | 200 | 6268 |
|  Nikko Co. Ltd. | 1000 | 5247 |
|  Nikkon Holdings Co. Ltd.(x) | 2800 | 64602 |
|  Nikon Corp.(x) | 8300 | 96815 |
|  Nintendo Co. Ltd. | 31700 | 2744825 |
|  Nippon Air Conditioning Services Co. Ltd. | 1200 | 10484 |
|  Nippon Beet Sugar Manufacturing Co. Ltd. | 700 | 13949 |
|  Nippon Carbide Industries Co., Inc. | 300 | 4445 |
|  Nippon Carbon Co. Ltd. | 600 | 17649 |
|  Nippon Ceramic Co. Ltd. | 800 | 18988 |
|  Nippon Chemical Industrial Co. Ltd. | 400 | 7720 |
|  Nippon Chemi-Con Corp.\* | 700 | 7739 |
|  Nippon Coke & Engineering Co. Ltd.\* | 10000 | 7032 |
|  Nippon Concrete Industries Co. Ltd. | 1000 | 2333 |
|  Nippon Denko Co. Ltd. | 5000 | 11462 |
|  Nippon Densetsu Kogyo Co. Ltd. | 400 | 7733 |
|  Nippon Electric Glass Co. Ltd. | 1800 | 59105 |
|  Nippon Express Holdings, Inc. | 5200 | 118181 |
|  Nippon Fine Chemical Co. Ltd. | 1000 | 17439 |
|  Nippon Gas Co. Ltd. | 3300 | 61767 |
|  Nippon Hume Corp.(x) | 1000 | 26372 |
|  Nippon Kanzai Holdings Co. Ltd. | 800 | 15114 |
|  Nippon Kayaku Co. Ltd. | 5000 | 46979 |
|  Nippon Light Metal Holdings Co. Ltd. | 1480 | 21016 |
|  Nippon Paint Holdings Co. Ltd.(x) | 22900 | 156399 |
|  Nippon Paper Industries Co. Ltd. | 2800 | 23061 |
|  Nippon Parking Development Co. Ltd. | 13000 | 25229 |
|  Nippon Sanso Holdings Corp. | 4800 | 170305 |
|  Nippon Seisen Co. Ltd. | 1000 | 7438 |
|  Nippon Sharyo Ltd. | 400 | 7776 |
|  Nippon Sheet Glass Co. Ltd.\* | 3800 | 13105 |
|  Nippon Shinyaku Co. Ltd. | 1700 | 38314 |
|  Nippon Shokubai Co. Ltd.(x) | 4000 | 49336 |
|  Nippon Signal Co. Ltd. | 2800 | 23042 |
|  Nippon Soda Co. Ltd.(x) | 800 | 18663 |
|  Nippon Steel Corp.(x) | 134075 | 552583 |
|  Nippon Television Holdings, Inc. | 4100 | 109400 |
|  Nippon Thompson Co. Ltd.(x) | 4000 | 18555 |
|  Nippon Yakin Kogyo Co. Ltd. | 650 | 18790 |
|  Nippon Yusen KK(x) | 10100 | 344965 |
|  Nipro Corp.(x) | 4700 | 47847 |
|  Nishimatsu Construction Co. Ltd. | 900 | 31902 |
|  Nishimatsuya Chain Co. Ltd.(x) | 700 | 10125 |
|  Nishi-Nippon Financial Holdings, Inc. | 4000 | 67891 |
|  Nishi-Nippon Railroad Co. Ltd. | 1100 | 17387 |
|  Nissan Chemical Corp.(x) | 1900 | 68993 |
|  Nissan Motor Co. Ltd.\* | 68720 | 169053 |
|  Nissan Shatai Co. Ltd. | 900 | 7504 |
|  Nissei Plastic Industrial Co. Ltd. | 1000 | 5863 |
|  Nissha Co. Ltd. | 2200 | 21273 |
|  Nisshin Group Holdings Co. Ltd. | 2600 | 10619 |
|  Nisshin Seifun Group, Inc.(x) | 5605 | 68828 |
|  Nisshinbo Holdings, Inc. | 4468 | 34397 |
|  Nissin Foods Holdings Co. Ltd.(x) | 6200 | 116802 |
|  Nissui Corp.(x) | 6400 | 45116 |
|  Niterra Co. Ltd. | 4000 | 154553 |
|  Nitori Holdings Co. Ltd.(x) | 10000 | 192954 |
|  Nitta Corp. | 1100 | 30943 |
|  Nittetsu Mining Co. Ltd. | 3000 | 40491 |
|  Nitto Boseki Co. Ltd. | 300 | 13389 |
|  Nitto Denko Corp.(x) | 16300 | 387646 |
|  Nitto Fuji Flour Milling Co. Ltd. | 200 | 9480 |
|  Nitto Kogyo Corp.(x) | 300 | 7344 |
|  Nitto Kohki Co. Ltd. | 700 | 8283 |
|  Nitto Seiko Co. Ltd. | 1000 | 4314 |
|  Nittoc Construction Co. Ltd. | 750 | 6415 |
|  NOF Corp. | 6600 | 115456 |
|  Nohmi Bosai Ltd. | 1000 | 25459 |
|  Nojima Corp.(x) | 1800 | 49356 |
|  NOK Corp.(x) | 800 | 14060 |
|  Nomura Co. Ltd. | 4000 | 28644 |
|  Nomura Holdings, Inc. | 85700 | 629052 |
|  Nomura Micro Science Co. Ltd.(x) | 1100 | 24509 |
|  Nomura Real Estate Holdings, Inc.(x) | 14000 | 89376 |
|  Nomura Research Institute Ltd. | 11209 | 429987 |
|  Noritsu Koki Co. Ltd. | 700 | 8359 |
|  Noritz Corp. | 100 | 1356 |
|  North Pacific Bank Ltd. | 5100 | 25761 |
|  NPR-RIKEN Corp. | 1208 | 25118 |
|  NS Solutions Corp.(x) | 2000 | 48795 |
|  NS United Kaiun Kaisha Ltd.(x) | 400 | 13713 |
|  NSD Co. Ltd. | 2260 | 53151 |
|  NSK Ltd. | 9100 | 47037 |
|  NSW, Inc. | 400 | 6984 |

---

See Notes to Portfolio of Investments.

565

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  NTN Corp.(x) | 13000 | $29923 |
|  NTT, Inc. | 1496400 | 1565359 |
|  Nxera Pharma Co. Ltd.(x)\* | 2700 | 18075 |
|  Obara Group, Inc.(x) | 800 | 23126 |
|  Obayashi Corp. | 17300 | 284151 |
|  OBIC Business Consultants Co. Ltd. | 600 | 36921 |
|  Obic Co. Ltd. | 9400 | 327603 |
|  Odakyu Electric Railway Co. Ltd.(x) | 7899 | 88906 |
|  Oenon Holdings, Inc. | 3000 | 12030 |
|  Ogaki Kyoritsu Bank Ltd. (The) | 1600 | 37597 |
|  Ohara, Inc. | 400 | 3213 |
|  Ohashi Technica, Inc. | 600 | 8845 |
|  Ohsho Food Service Corp. | 600 | 15012 |
|  Oiles Corp. | 1560 | 24294 |
|  Oisix ra daichi, Inc.(x) | 2200 | 26435 |
|  Oita Bank Ltd. (The) | 700 | 24472 |
|  Oji Holdings Corp. | 21500 | 117615 |
|  Okabe Co. Ltd. | 2700 | 17089 |
|  Okamura Corp.(x) | 1700 | 26991 |
|  Okasan Securities Group, Inc. | 6000 | 27751 |
|  Oki Electric Industry Co. Ltd. | 3600 | 39290 |
|  Okinawa Electric Power Co., Inc. (The) | 2273 | 15570 |
|  OKUMA Corp.(x) | 600 | 13713 |
|  Okumura Corp. | 300 | 9595 |
|  Okura Industrial Co. Ltd. | 600 | 22152 |
|  Okuwa Co. Ltd. | 1000 | 6268 |
|  Olympus Corp. | 27400 | 346657 |
|  Omron Corp.(x) | 4800 | 132103 |
|  Ono Pharmaceutical Co. Ltd.(x) | 9800 | 112854 |
|  Onoken Co. Ltd. | 1000 | 9474 |
|  Onward Holdings Co. Ltd. | 1000 | 4727 |
|  Open House Group Co. Ltd. | 1400 | 72468 |
|  Open Up Group, Inc. | 3000 | 36839 |
|  Optex Group Co. Ltd. | 1600 | 22829 |
|  Optorun Co. Ltd.(x) | 1000 | 11252 |
|  Oracle Corp. | 1000 | 102106 |
|  Organo Corp.(x) | 700 | 53677 |
|  Orient Corp. | 1650 | 11280 |
|  Oriental Land Co. Ltd.(x) | 30000 | 723603 |
|  Oriental Shiraishi Corp. | 450 | 1296 |
|  ORIX Corp.(x) | 28000 | 735004 |
|  Osaka Gas Co. Ltd. | 9500 | 275522 |
|  Osaka Soda Co. Ltd. | 500 | 5602 |
|  Osaka Steel Co. Ltd.(x) | 800 | 13681 |
|  OSAKA Titanium Technologies Co. Ltd.(x) | 1100 | 19377 |
|  Osaki Electric Co. Ltd.(x) | 1000 | 8669 |
|  OSG Corp.(x) | 2200 | 31553 |
|  Otsuka Corp. | 5100 | 106494 |
|  Otsuka Holdings Co. Ltd. | 11600 | 616455 |
|  Oyo Corp. | 1200 | 23394 |
|  Pacific Industrial Co. Ltd. | 2000 | 35947 |
|  Pacific Metals Co. Ltd. | 899 | 12109 |
|  Pack Corp. (The) | 2700 | 21945 |
|  PAL GROUP Holdings Co. Ltd. | 1600 | 27156 |
|  PALTAC Corp. | 1050 | 32881 |
|  Pan Pacific International Holdings Corp. | 55500 | 365909 |
|  Panasonic Holdings Corp. | 61685 | 671555 |
|  Park24 Co. Ltd. | 4000 | 51121 |
|  Pasona Group, Inc. | 1000 | 14809 |
|  Pegasus Co. Ltd. | 1200 | 5550 |
|  Penta-Ocean Construction Co. Ltd. | 2700 | 21288 |
|  PeptiDream, Inc.\* | 3500 | 37216 |
|  Persol Holdings Co. Ltd. | 47100 | 85897 |
|  Pharma Foods International Co. Ltd. | 700 | 3933 |
|  PIA Corp.\* | 300 | 7029 |
|  Pigeon Corp. | 4300 | 51597 |
|  PILLAR Corp. | 1000 | 27859 |
|  Pilot Corp. | 1100 | 35703 |
|  Piolax, Inc. | 1500 | 18065 |
|  Pola Orbis Holdings, Inc. | 3000 | 27092 |
|  Premium Group Co. Ltd. | 600 | 8747 |
|  Press Kogyo Co. Ltd. | 5000 | 21740 |
|  Prima Meat Packers Ltd. | 1400 | 22294 |
|  Procrea Holdings, Inc. | 1176 | 13821 |
|  Pronexus, Inc. | 1300 | 9854 |
|  PS Construction Co. Ltd. | 800 | 10029 |
|  Raito Kogyo Co. Ltd.(x) | 800 | 17446 |
|  Raiznext Corp. | 200 | 2589 |
|  Raksul, Inc. | 2200 | 17733 |
|  Rakus Co. Ltd. | 4000 | 36731 |
|  Rakuten Bank Ltd.(x)\* | 1900 | 106239 |
|  Rakuten Group, Inc.\* | 38900 | 252494 |
|  Rasa Corp. | 500 | 5646 |
|  Rasa Industries Ltd. | 400 | 12347 |
|  Recruit Holdings Co. Ltd. | 38100 | 2051529 |
|  Relo Group, Inc. | 3600 | 43441 |
|  Renaissance, Inc.(x) | 500 | 3959 |
|  Renesas Electronics Corp. | 43200 | 498355 |
|  Rengo Co. Ltd. | 300 | 1897 |
|  RENOVA, Inc.\* | 2800 | 17817 |
|  Resona Holdings, Inc. | 60600 | 618969 |
|  Resonac Holdings Corp. | 5000 | 169760 |
|  Resorttrust, Inc. | 3800 | 48256 |
|  Restar Corp. | 700 | 12449 |
|  Rheon Automatic Machinery Co. Ltd. | 1000 | 9521 |
|  Ricoh Co. Ltd. | 13100 | 115733 |
|  Riken Keiki Co. Ltd. | 700 | 14792 |
|  Riken Technos Corp. | 2000 | 17040 |
|  Ringer Hut Co. Ltd. | 900 | 13924 |
|  Rinnai Corp. | 2200 | 52157 |
|  Riso Kagaku Corp. | 800 | 6567 |
|  Riso Kyoiku Group Corp. | 3900 | 5934 |
|  Rock Field Co. Ltd.(x) | 1200 | 11896 |
|  Rohm Co. Ltd. | 9600 | 143593 |
|  Rohto Pharmaceutical Co. Ltd. | 4800 | 80706 |
|  Rorze Corp. | 1100 | 16539 |
|  Round One Corp. | 4900 | 43306 |
|  Royal Holdings Co. Ltd. | 1800 | 33314 |
|  Ryobi Ltd. | 1400 | 26318 |
|  Ryoden Corp. | 500 | 10430 |
|  Ryohin Keikaku Co. Ltd. | 12400 | 246935 |
|  Ryoyo Ryosan Holdings, Inc.(x) | 1224 | 24706 |
|  S Foods, Inc. | 500 | 9186 |
|  Sagami Holdings Corp.(x) | 1000 | 12537 |
|  Saibu Gas Holdings Co. Ltd. | 1300 | 17379 |
|  Saizeriya Co. Ltd. | 600 | 20205 |
|  Sakai Chemical Industry Co. Ltd.(x) | 800 | 15401 |
|  Sakai Heavy Industries Ltd. | 400 | 5607 |
|  Sakai Moving Service Co. Ltd. | 800 | 16202 |
|  Sakata INX Corp. | 2000 | 31470 |
|  Sakata Seed Corp. | 1100 | 27112 |
|  Sakura Internet, Inc.(x) | 1000 | 21436 |
|  Sala Corp. | 1000 | 7411 |
|  San Holdings, Inc. | 800 | 8049 |
|  San ju San Financial Group, Inc. | 990 | 24200 |
|  San-A Co. Ltd. | 1600 | 30132 |
|  San-Ai Obbli Co. Ltd.(x) | 2000 | 28306 |
|  Sangetsu Corp. | 1800 | 37793 |
|  San-In Godo Bank Ltd. (The) | 3400 | 31658 |
|  Sanix Holdings, Inc.\* | 1800 | 2933 |
|  Sanken Electric Co. Ltd.(x)\* | 400 | 19448 |

---

See Notes to Portfolio of Investments.

566

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Sanki Engineering Co. Ltd. | 1400 | $46671 |
|  Sankyo Co. Ltd. | 6400 | 111286 |
|  Sankyo Seiko Co. Ltd. | 2000 | 9318 |
|  Sankyo Tateyama, Inc. | 1700 | 7621 |
|  Sankyu, Inc. | 800 | 43818 |
|  Sanoh Industrial Co. Ltd. | 1400 | 8776 |
|  Sanrio Co. Ltd.(x) | 4200 | 197412 |
|  Sansan, Inc.\* | 1100 | 14200 |
|  Santen Pharmaceutical Co. Ltd. | 10700 | 118624 |
|  Sanwa Holdings Corp. | 5300 | 151813 |
|  Sanyo Chemical Industries Ltd. | 600 | 16716 |
|  Sanyo Shokai Ltd. | 600 | 14099 |
|  Sapporo Holdings Ltd. | 1800 | 89960 |
|  Sato Corp. | 1200 | 18403 |
|  Sato Shoji Corp. | 1000 | 13341 |
|  Satori Electric Co. Ltd. | 900 | 11551 |
|  Sawai Group Holdings Co. Ltd.(x) | 2400 | 32531 |
|  SBI ARUHI Corp. | 2100 | 11602 |
|  SBI Holdings, Inc. | 8160 | 355126 |
|  SCREEN Holdings Co. Ltd.(x) | 1900 | 172932 |
|  Scroll Corp. | 1700 | 12944 |
|  SCSK Corp. | 4596 | 137645 |
|  Secom Co. Ltd. | 10500 | 385181 |
|  Sega Sammy Holdings, Inc. | 5000 | 105352 |
|  Seibu Holdings, Inc.(x) | 5600 | 202703 |
|  Seikagaku Corp. | 2400 | 10776 |
|  Seikitokyu Kogyo Co. Ltd. | 600 | 6110 |
|  Seiko Epson Corp. | 6800 | 87273 |
|  Seiko Group Corp. | 100 | 4422 |
|  Seino Holdings Co. Ltd.(x) | 1300 | 19164 |
|  Seiren Co. Ltd. | 1300 | 26811 |
|  Sekisui Chemical Co. Ltd. | 10000 | 186293 |
|  Sekisui House Ltd. | 15300 | 348346 |
|  Sekisui Jushi Corp. | 1000 | 14640 |
|  Sekisui Kasei Co. Ltd.\* | 1000 | 2421 |
|  Senko Group Holdings Co. Ltd. | 4000 | 55016 |
|  Senshu Ikeda Holdings, Inc.(x) | 6880 | 30193 |
|  Senshukai Co. Ltd.(x)\* | 2200 | 3600 |
|  Seven & i Holdings Co. Ltd. | 58208 | 783664 |
|  Seven Bank Ltd. | 4200 | 8299 |
|  SG Holdings Co. Ltd.(x) | 7400 | 76509 |
|  Sharp Corp.\* | 8300 | 46578 |
|  Shibaura Mechatronics Corp. | 600 | 53068 |
|  Shibusawa Logistics Corp. | 2400 | 18793 |
|  Shibuya Corp. | 700 | 16165 |
|  SHIFT, Inc.\* | 4400 | 37191 |
|  Shiga Bank Ltd. (The) | 200 | 9169 |
|  Shikoku Bank Ltd. (The) | 1600 | 16434 |
|  Shikoku Electric Power Co., Inc.(x) | 2700 | 24009 |
|  Shikoku Kasei Holdings Corp. | 1000 | 15133 |
|  Shima Seiki Manufacturing Ltd. | 900 | 6439 |
|  Shimadaya Corp. | 600 | 7258 |
|  Shimadzu Corp. | 6900 | 174267 |
|  Shimamura Co. Ltd. | 1500 | 100304 |
|  Shimano, Inc. | 2200 | 246949 |
|  Shimizu Bank Ltd. (The) | 400 | 5537 |
|  Shimizu Corp. | 13300 | 187019 |
|  Shimojima Co. Ltd. | 800 | 6946 |
|  Shin Nippon Air Technologies Co. Ltd. | 200 | 4105 |
|  Shin Nippon Biomedical Laboratories Ltd. | 700 | 8061 |
|  Shinagawa Refra Co. Ltd.(x) | 1500 | 18967 |
|  Shindengen Electric Manufacturing Co. Ltd. | 400 | 8601 |
|  Shin-Etsu Chemical Co. Ltd. | 44700 | 1466877 |
|  Shin-Etsu Polymer Co. Ltd. | 100 | 1294 |
|  Shinko Shoji Co. Ltd. | 2200 | 14832 |
|  Shinmaywa Industries Ltd.(x) | 1800 | 22542 |
|  Shinnihon Corp. | 1600 | 19951 |
|  Shinsho Corp. | 900 | 13547 |
|  Shinwa Co. Ltd. | 600 | 13632 |
|  Shionogi & Co. Ltd. | 17200 | 301409 |
|  Ship Healthcare Holdings, Inc. | 3100 | 47836 |
|  Shiseido Co. Ltd. | 9800 | 167458 |
|  Shizuoka Financial Group, Inc.(x) | 10500 | 144239 |
|  Shizuoka Gas Co. Ltd. | 3000 | 23714 |
|  SHO-BOND Holdings Co. Ltd. | 200 | 6581 |
|  Shochiku Co. Ltd. | 400 | 33269 |
|  Shoei Co. Ltd. | 1600 | 19031 |
|  Showa Sangyo Co. Ltd. | 1000 | 20624 |
|  Siix Corp. | 1400 | 12828 |
|  Simplex Holdings, Inc. | 800 | 23505 |
|  Sinanen Holdings Co. Ltd. | 400 | 18068 |
|  Sinfonia Technology Co. Ltd. | 600 | 37002 |
|  Sinko Industries Ltd. | 600 | 5246 |
|  Sintokogio Ltd. | 2600 | 17704 |
|  SKY Perfect JSAT Holdings, Inc. | 3600 | 33959 |
|  Skylark Holdings Co. Ltd. | 6800 | 140658 |
|  SMC Corp. | 18800 | 5775325 |
|  SMK Corp. | 300 | 4633 |
|  SMS Co. Ltd. | 2800 | 29518 |
|  Socionext, Inc.(x) | 4700 | 88670 |
|  Soda Nikka Co. Ltd. | 1000 | 7127 |
|  SoftBank Corp. | 807500 | 1188713 |
|  SoftBank Group Corp. | 24812 | 3134951 |
|  Sojitz Corp.(x) | 5900 | 156232 |
|  Sompo Holdings, Inc. | 22450 | 694518 |
|  Sony Financial Group, Inc.\* | 173000 | 191852 |
|  Sony Group Corp. | 173000 | 4982297 |
|  Sotetsu Holdings, Inc. | 1100 | 19823 |
|  SPK Corp. | 400 | 6327 |
|  S-Pool, Inc. | 3800 | 8839 |
|  Square Enix Holdings Co. Ltd. | 7800 | 167830 |
|  SRA Holdings | 600 | 20489 |
|  ST Corp. | 600 | 6414 |
|  St Marc Holdings Co. Ltd. | 800 | 15212 |
|  Stanley Electric Co. Ltd. | 3700 | 74783 |
|  Starzen Co. Ltd. | 2400 | 19491 |
|  Stella Chemifa Corp. | 500 | 13811 |
|  Strike Co. Ltd.(x) | 700 | 20945 |
|  Studio Alice Co. Ltd. | 500 | 6972 |
|  Subaru Corp. | 15600 | 319627 |
|  Sugi Holdings Co. Ltd. | 3000 | 72340 |
|  Sugimoto & Co. Ltd. | 1200 | 13543 |
|  SUMCO Corp.(x) | 10700 | 114101 |
|  Sumida Corp. | 700 | 5140 |
|  Sumiseki Holdings, Inc. | 1000 | 4077 |
|  Sumitomo Bakelite Co. Ltd. | 1300 | 43628 |
|  Sumitomo Chemical Co. Ltd. | 44800 | 141199 |
|  Sumitomo Corp. | 31680 | 918578 |
|  Sumitomo Electric Industries Ltd. | 18400 | 524808 |
|  Sumitomo Forestry Co. Ltd.(x) | 11900 | 141744 |
|  Sumitomo Heavy Industries Ltd. | 2500 | 60216 |
|  Sumitomo Metal Mining Co. Ltd.(x) | 6500 | 209524 |
|  Sumitomo Mitsui Construction Co. Ltd. | 7200 | 29017 |
|  Sumitomo Mitsui Financial Group, Inc. | 102050 | 2881704 |
|  Sumitomo Mitsui Trust Group, Inc. | 17382 | 505293 |
|  Sumitomo Osaka Cement Co. Ltd.(x) | 200 | 5261 |
|  Sumitomo Pharma Co. Ltd.\* | 4700 | 54378 |
|  Sumitomo Realty & Development Co. Ltd. | 8000 | 353356 |

---

See Notes to Portfolio of Investments.

567

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Sumitomo Riko Co. Ltd. | 2000 | $29834 |
|  Sumitomo Rubber Industries Ltd. | 4484 | 54532 |
|  Sumitomo Seika Chemicals Co. Ltd.(x) | 400 | 12861 |
|  Sumitomo Warehouse Co. Ltd. (The) | 1800 | 37915 |
|  Sun Frontier Fudousan Co. Ltd.(x) | 1000 | 15837 |
|  Sundrug Co. Ltd. | 1400 | 41058 |
|  Suntory Beverage & Food Ltd. | 3800 | 118842 |
|  Sun-Wa Technos Corp. | 600 | 10776 |
|  Suruga Bank Ltd. | 2100 | 21911 |
|  Suzuden Corp. | 300 | 3453 |
|  Suzuken Co. Ltd. | 1990 | 78276 |
|  Suzuki Motor Corp. | 40500 | 591678 |
|  SWCC Corp. | 500 | 26270 |
|  Sysmex Corp. | 12900 | 159151 |
|  Systena Corp. | 4900 | 17561 |
|  T Hasegawa Co. Ltd. | 1600 | 31538 |
|  T RAD Co. Ltd. | 400 | 19339 |
|  T&D Holdings, Inc.(x) | 13700 | 335540 |
|  Tachibana Eletech Co. Ltd. | 840 | 16609 |
|  Tachi-S Co. Ltd. | 1600 | 21281 |
|  Tadano Ltd. | 600 | 4238 |
|  Taihei Dengyo Kaisha Ltd. | 1500 | 21209 |
|  Taiheiyo Cement Corp.(x) | 3278 | 85228 |
|  Taiho Kogyo Co. Ltd. | 800 | 3965 |
|  Taiko Pharmaceutical Co. Ltd.(x)\* | 1200 | 2418 |
|  Taisei Corp. | 4500 | 309463 |
|  Taisei Lamick Group Head Quarter & Innovation Co. Ltd.(x) | 300 | 5489 |
|  Taiyo Holdings Co. Ltd. | 300 | 16391 |
|  Taiyo Yuden Co. Ltd. | 2700 | 60432 |
|  Takachiho Koheki Co. Ltd. | 1000 | 13139 |
|  Takamatsu Construction Group Co. Ltd.(x) | 1000 | 23329 |
|  Takaoka Toko Co. Ltd. | 400 | 8507 |
|  Takara & Co. Ltd. | 700 | 19596 |
|  Takara Holdings, Inc. | 1400 | 16524 |
|  Takara Standard Co. Ltd. | 200 | 3534 |
|  Takasago Thermal Engineering Co. Ltd. | 2200 | 61246 |
|  Takashimaya Co. Ltd. | 6800 | 77939 |
|  Take And Give Needs Co. Ltd. | 600 | 3436 |
|  Takeda Pharmaceutical Co. Ltd. | 44800 | 1307178 |
|  Takeuchi Manufacturing Co. Ltd. | 900 | 31524 |
|  Takuma Co. Ltd. | 1300 | 19726 |
|  Tamron Co. Ltd. | 3200 | 22396 |
|  Tamura Corp. | 3000 | 9960 |
|  Tanseisha Co. Ltd.(x) | 1950 | 18539 |
|  Tayca Corp. | 1000 | 8838 |
|  TBS Holdings, Inc. | 2500 | 94972 |
|  TDC Soft, Inc. | 1600 | 14974 |
|  TDK Corp. | 45100 | 655221 |
|  TechMatrix Corp. | 300 | 4388 |
|  TechnoPro Holdings, Inc. | 2900 | 94912 |
|  Teijin Ltd. | 5200 | 44252 |
|  Teikoku Electric Manufacturing Co. Ltd. | 800 | 17311 |
|  Teikoku Sen-I Co. Ltd. | 1000 | 21943 |
|  Teikoku Tsushin Kogyo Co. Ltd. | 400 | 6473 |
|  Tekken Corp. | 800 | 19015 |
|  TerraSky Co. Ltd.(x)\* | 1100 | 15315 |
|  Terumo Corp. | 32600 | 538539 |
|  THK Co. Ltd. | 2800 | 77476 |
|  TIS, Inc. | 5600 | 184944 |
|  Toa Corp./Hyogo | 1000 | 8135 |
|  Toa Corp./Tokyo | 600 | 8488 |
|  TOA ROAD Corp. | 2000 | 20935 |
|  Toagosei Co. Ltd. | 600 | 6118 |
|  TOBISHIMA HOLDINGS, Inc. | 800 | 11760 |
|  Tobu Railway Co. Ltd. | 4200 | 75006 |
|  TOC Co. Ltd. | 4700 | 25679 |
|  Tocalo Co. Ltd. | 2400 | 35314 |
|  Tochigi Bank Ltd. (The) | 6000 | 20529 |
|  Toda Corp. | 4500 | 31038 |
|  Toda Kogyo Corp.\* | 100 | 882 |
|  Toei Co. Ltd. | 1000 | 36380 |
|  Toenec Corp. | 1000 | 9453 |
|  Toho Bank Ltd. (The) | 10000 | 31443 |
|  Toho Co. Ltd. | 3100 | 199141 |
|  Toho Co. Ltd./Kobe | 400 | 9237 |
|  Toho Gas Co. Ltd. | 2000 | 61642 |
|  Toho Holdings Co. Ltd.(x) | 1900 | 70149 |
|  Toho Titanium Co. Ltd.(x) | 2100 | 25333 |
|  Toho Zinc Co. Ltd.\* | 700 | 3053 |
|  Tohoku Electric Power Co., Inc.(x) | 11000 | 80035 |
|  Tokai Carbon Co. Ltd. | 6400 | 44597 |
|  TOKAI Holdings Corp. | 2400 | 16894 |
|  Tokai Rika Co. Ltd.(x) | 500 | 9051 |
|  Token Corp. | 120 | 12082 |
|  Tokio Marine Holdings, Inc. | 47200 | 2000857 |
|  Tokushu Tokai Paper Co. Ltd. | 2400 | 25236 |
|  Tokuyama Corp.(x) | 2200 | 54671 |
|  Tokyo Century Corp. | 2200 | 28072 |
|  Tokyo Electric Power Co. Holdings, Inc.\* | 41700 | 195748 |
|  Tokyo Electron Device Ltd. | 1200 | 24181 |
|  Tokyo Electron Ltd. | 10600 | 1889414 |
|  Tokyo Energy & Systems, Inc. | 1000 | 11347 |
|  Tokyo Gas Co. Ltd. | 9300 | 331036 |
|  Tokyo Individualized Educational Institute, Inc. | 900 | 2081 |
|  Tokyo Keiki, Inc.(x) | 800 | 25560 |
|  Tokyo Kiraboshi Financial Group, Inc. | 351 | 17136 |
|  Tokyo Metro Co. Ltd.(x) | 9600 | 109999 |
|  Tokyo Ohka Kogyo Co. Ltd. | 2800 | 91790 |
|  Tokyo Rope Manufacturing Co. Ltd. | 800 | 7947 |
|  Tokyo Sangyo Co. Ltd. | 1000 | 6153 |
|  Tokyo Seimitsu Co. Ltd. | 1200 | 81590 |
|  Tokyo Steel Manufacturing Co. Ltd.(x) | 1300 | 12817 |
|  Tokyo Tatemono Co. Ltd. | 3891 | 78025 |
|  Tokyo Tekko Co. Ltd.(x) | 400 | 15661 |
|  Tokyotokeiba Co. Ltd. | 800 | 29158 |
|  Tokyu Construction Co. Ltd. | 1040 | 7862 |
|  Tokyu Corp. | 15600 | 190299 |
|  Tokyu Fudosan Holdings Corp. | 15400 | 127565 |
|  Tomen Devices Corp. | 100 | 4598 |
|  Tomoe Engineering Co. Ltd. | 1200 | 13681 |
|  Tomoku Co. Ltd. | 800 | 18393 |
|  TOMONY Holdings, Inc. | 2500 | 11377 |
|  Tomy Co. Ltd. | 2100 | 45441 |
|  Topcon Corp.\* | 2800 | 62027 |
|  TOPPAN Holdings, Inc. | 5700 | 146272 |
|  Topy Industries Ltd. | 1000 | 19218 |
|  Toray Industries, Inc. | 36300 | 232034 |
|  Toridoll Holdings Corp. | 1200 | 38965 |
|  Toshiba TEC Corp. | 600 | 12293 |
|  Tosoh Corp.(x) | 6500 | 96235 |
|  Totetsu Kogyo Co. Ltd. | 1000 | 29246 |
|  TOTO Ltd.(x) | 4400 | 115858 |
|  Toukei Computer Co. Ltd. | 400 | 10819 |
|  Tow Co. Ltd. | 1200 | 3116 |
|  Towa Bank Ltd. (The) | 1300 | 8747 |

---

See Notes to Portfolio of Investments.

568

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Towa Corp.(x) | 2100 | $30346 |
|  Towa Pharmaceutical Co. Ltd.(x) | 200 | 3992 |
|  Toyo Construction Co. Ltd. | 100 | 1174 |
|  Toyo Corp. | 1600 | 17289 |
|  Toyo Engineering Corp.(x) | 1600 | 17192 |
|  Toyo Kanetsu KK | 600 | 18907 |
|  Toyo Securities Co. Ltd. | 4000 | 14903 |
|  Toyo Seikan Group Holdings Ltd. | 2700 | 61619 |
|  Toyo Suisan Kaisha Ltd. | 2500 | 178771 |
|  Toyo Tanso Co. Ltd. | 700 | 20590 |
|  Toyo Tire Corp. | 3000 | 79744 |
|  Toyobo Co. Ltd. | 1700 | 13070 |
|  Toyoda Gosei Co. Ltd. | 600 | 14939 |
|  Toyota Boshoku Corp. | 1800 | 29875 |
|  Toyota Industries Corp. | 4400 | 495087 |
|  Toyota Motor Corp. | 266640 | 5137713 |
|  Toyota Tsusho Corp. | 15600 | 432709 |
|  TPR Co. Ltd. | 3000 | 24688 |
|  Transcosmos, Inc. | 100 | 2495 |
|  TRE Holdings Corp.(x) | 100 | 1051 |
|  Trend Micro, Inc. | 2700 | 147885 |
|  Tri Chemical Laboratories, Inc. | 1300 | 25642 |
|  Trusco Nakayama Corp. | 1400 | 22607 |
|  TS Tech Co. Ltd.(x) | 2100 | 26420 |
|  Tsubakimoto Chain Co.(x) | 2700 | 39235 |
|  Tsubakimoto Kogyo Co. Ltd. | 600 | 11401 |
|  Tsukishima Holdings Co. Ltd.(x) | 100 | 1986 |
|  Tsukuba Bank Ltd. | 5400 | 11393 |
|  Tsumura & Co. | 1500 | 36728 |
|  Tsuruha Holdings, Inc.(x) | 5000 | 80045 |
|  Tsutsumi Jewelry Co. Ltd. | 500 | 7540 |
|  TV Asahi Holdings Corp. | 900 | 20418 |
|  Tv Tokyo Holdings Corp. | 500 | 16685 |
|  UACJ Corp. | 1704 | 18517 |
|  UBE Corp.(x) | 3000 | 46333 |
|  Uchida Yoko Co. Ltd. | 400 | 32647 |
|  Ulvac, Inc. | 1200 | 52330 |
|  Unicharm Corp. | 29900 | 193975 |
|  Unipres Corp. | 1600 | 13264 |
|  United Arrows Ltd. | 1100 | 15568 |
|  United Super Markets Holdings, Inc.(x) | 380 | 2477 |
|  Unitika Ltd.(x)\* | 2900 | 4138 |
|  Ushio, Inc.(x) | 1700 | 26779 |
|  USS Co. Ltd. | 11400 | 130855 |
|  UT Group Co. Ltd. | 1600 | 29580 |
|  Valor Holdings Co. Ltd. | 500 | 9832 |
|  Vision, Inc. | 500 | 4209 |
|  Visional, Inc.\* | 700 | 53535 |
|  Vital KSK Holdings, Inc. | 2300 | 20436 |
|  Wacoal Holdings Corp.(x) | 800 | 30489 |
|  Wacom Co. Ltd. | 1300 | 7200 |
|  Warabeya Nichiyo Holdings Co. Ltd. | 700 | 13978 |
|  WATAMI Co. Ltd. | 1400 | 9088 |
|  Weathernews, Inc. | 600 | 19130 |
|  Welcia Holdings Co. Ltd. | 2800 | 51121 |
|  West Japan Railway Co. | 13400 | 293851 |
|  W-Scope Corp.\* | 3400 | 5242 |
|  Xebio Holdings Co. Ltd. | 1400 | 10925 |
|  YAC Holdings Co. Ltd.(x) | 1000 | 5815 |
|  Yahagi Construction Co. Ltd. | 1700 | 25796 |
|  Yakult Honsha Co. Ltd.(x) | 7000 | 114146 |
|  YAMABIKO Corp. | 200 | 3445 |
|  Yamada Holdings Co. Ltd. | 9472 | 31090 |
|  Yamagata Bank Ltd. (The) | 1400 | 16056 |
|  Yamaguchi Financial Group, Inc.(x) | 4300 | 52411 |
|  Yamaha Corp.(x) | 8900 | 59225 |
|  Yamaha Motor Co. Ltd.(x) | 24000 | 180140 |
|  Yamaichi Electronics Co. Ltd.(x) | 1200 | 28522 |
|  YA-MAN Ltd.(x) | 3200 | 16900 |
|  Yamatane Corp. | 1200 | 22948 |
|  Yamato Holdings Co. Ltd.(x) | 6800 | 108793 |
|  Yamato Kogyo Co. Ltd.(x) | 1100 | 67643 |
|  Yamaura Corp. | 500 | 4828 |
|  Yamazaki Baking Co. Ltd. | 2900 | 64556 |
|  Yaoko Co. Ltd.(r) | 500 | 32606 |
|  Yaskawa Electric Corp. | 5600 | 119547 |
|  Yasuda Logistics Corp. | 1000 | 14322 |
|  Yellow Hat Ltd.(x) | 1500 | 17142 |
|  Yodoko Ltd. | 4500 | 39527 |
|  Yokogawa Bridge Holdings Corp.(x) | 100 | 1914 |
|  Yokogawa Electric Corp. | 5000 | 143862 |
|  Yokohama Financial Group, Inc. | 25446 | 195639 |
|  Yokohama Rubber Co. Ltd. (The) | 2800 | 103851 |
|  Yokorei Co. Ltd. | 2600 | 21361 |
|  Yokowo Co. Ltd. | 1000 | 10021 |
|  Yomeishu Seizo Co. Ltd. | 500 | 13287 |
|  Yondenko Corp. | 1200 | 10890 |
|  Yondoshi Holdings, Inc. | 900 | 10486 |
|  Yorozu Corp. | 700 | 4449 |
|  Yoshinoya Holdings Co. Ltd.(x) | 1400 | 28495 |
|  Yurtec Corp.(x) | 300 | 5471 |
|  Yushin Co. | 1200 | 4990 |
|  Yushiro, Inc. | 600 | 9181 |
|  Zacros Corp. | 3600 | 25853 |
|  Zenkoku Hosho Co. Ltd.(x) | 1600 | 36309 |
|  Zenrin Co. Ltd. | 2550 | 18485 |
|  Zensho Holdings Co. Ltd. | 3200 | 209287 |
|  Zeon Corp.(x) | 4300 | 47875 |
|  Zeria Pharmaceutical Co. Ltd. | 1100 | 15077 |
|  Zojirushi Corp. | 1800 | 19815 |
|  ZOZO, Inc.(x) | 13500 | 124151 |
|  Zuken, Inc. | 800 | 26534 |
|  |  | 171277663 |
|  **Luxembourg (0.4%)** |  |  |
|  Eurofins Scientific SE | 60400 | 4380982 |
|  **Mexico (0.5%)** |  |  |
|  Fomento Economico Mexicano SABde CV (ADR) | 44950 | 4433419 |
|  Fresnillo plc | 9528 | 302415 |
|  |  | 4735834 |
|  **Netherlands (5.1%)** |  |  |
|  Adyen NV(m)\* | 1601 | 2565728 |
|  Akzo Nobel NV | 84787 | 6032377 |
|  Argenx SE\* | 3203 | 2320970 |
|  ASML Holding NV | 20612 | 20039621 |
|  ASML Holding NV (Registered) (ADR) | 5330 | 5159920 |
|  ASR Nederland NV | 68400 | 4640024 |
|  EXOR NV | 3560 | 347744 |
|  ING Groep NV | 158141 | 4098565 |
|  Koninklijke Ahold Delhaize NV | 121614 | 4918802 |
|  Wolters Kluwer NV | 12483 | 1702256 |
|  |  | 51826007 |
|  **New Zealand (0.1%)** |  |  |
|  a2 Milk Co. Ltd. (The) | 26011 | 148535 |
|  Auckland International Airport Ltd. | 6589 | 29691 |
|  Chorus Ltd. | 14715 | 81401 |
|  Fisher & Paykel Healthcare Corp. Ltd. | 7356 | 157560 |
|  Fletcher Building Ltd.\* | 17976 | 34733 |
|  Xero Ltd.\* | 5481 | 571217 |
|  |  | 1023137 |

---

See Notes to Portfolio of Investments.

569

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  **Nigeria (0.0%)†** |  |  |
|  Airtel Africa plc(m) | 27180 | $89193 |
|  **South Africa (0.2%)** |  |  |
|  Anglo American plc | 52478 | 1965588 |
|  **South Korea (1.2%)** |  |  |
|  KB Financial Group, Inc. | 79240 | 6523089 |
|  Samsung Electronics Co. Ltd. (Preference)(q) | 127587 | 6038115 |
|  |  | 12561204 |
|  **Spain (2.3%)** |  |  |
|  Banco Bilbao Vizcaya Argentaria SA | 301639 | 5786636 |
|  Banco Santander SA | 779068 | 8116735 |
|  Iberdrola SA | 320728 | 6064349 |
|  Industria de Diseno Textil SA | 58168 | 3207682 |
|  |  | 23175402 |
|  **Sweden (1.2%)** |  |  |
|  Hexagon AB, Class B | 403200 | 4792454 |
|  Sandvik AB | 128600 | 3576168 |
|  SKF AB, Class B | 31497 | 780199 |
|  Volvo AB, Class B | 110900 | 3174663 |
|  |  | 12323484 |
|  **Switzerland (0.5%)** |  |  |
|  Cie Financiere Richemont SA (Registered) | 28000 | 5332328 |
|  **United Kingdom (14.2%)** |  |  |
|  3i Group plc | 47488 | 2611506 |
|  Admiral Group plc | 12600 | 568021 |
|  Ashtead Group plc | 142393 | 9508191 |
|  Associated British Foods plc | 14477 | 399332 |
|  AstraZeneca plc | 73923 | 11117037 |
|  Auto Trader Group plc(m) | 44988 | 476895 |
|  Aviva plc | 152851 | 1409794 |
|  BAE Systems plc | 151217 | 4187424 |
|  Barclays plc | 703475 | 3591409 |
|  Barratt Redrow plc | 67024 | 351458 |
|  Beazley plc | 30938 | 377389 |
|  Berkeley Group Holdings plc | 4862 | 250832 |
|  British American Tobacco plc | 95437 | 5066102 |
|  BT Group plc | 283196 | 728034 |
|  Bunzl plc | 97864 | 3087742 |
|  Centrica plc | 259637 | 581744 |
|  Coca-Cola Europacific Partners plc | 10849 | 983421 |
|  Compass Group plc | 83670 | 2845828 |
|  Convatec Group plc(m) | 84268 | 262250 |
|  Croda International plc | 6948 | 252672 |
|  DCC plc(x) | 4932 | 316529 |
|  Diageo plc | 265654 | 6343472 |
|  Diploma plc | 6981 | 498073 |
|  easyJet plc | 34772 | 216989 |
|  Entain plc | 31145 | 366008 |
|  Flutter Entertainment plc, Class DI\* | 10693 | 2716022 |
|  Games Workshop Group plc | 1688 | 329859 |
|  Halma plc | 18772 | 871003 |
|  Hikma Pharmaceuticals plc | 7292 | 166523 |
|  Hiscox Ltd. | 15431 | 284111 |
|  Howden Joinery Group plc | 27843 | 315857 |
|  HSBC Holdings plc | 870047 | 12227819 |
|  ICG plc | 13550 | 405653 |
|  IMI plc | 13320 | 409516 |
|  Imperial Brands plc | 38128 | 1619370 |
|  Informa plc | 65850 | 812642 |
|  InterContinental Hotels Group plc | 7364 | 888771 |
|  International Consolidated Airlines Group SA | 175444 | 911021 |
|  Intertek Group plc | 25037 | 1590004 |
|  J Sainsbury plc | 85640 | 384692 |
|  JD Sports Fashion plc | 138958 | 178101 |
|  Kingfisher plc | 92592 | 384415 |
|  Land Securities Group plc (REIT) | 38554 | 301774 |
|  Legal & General Group plc | 290214 | 928935 |
|  Lloyds Banking Group plc | 3026549 | 3411814 |
|  London Stock Exchange Group plc | 24921 | 2854244 |
|  LondonMetric Property plc (REIT) | 112518 | 275261 |
|  M&G plc | 110708 | 376695 |
|  Marks & Spencer Group plc | 104763 | 513565 |
|  Melrose Industries plc | 65423 | 535667 |
|  National Grid plc | 241045 | 3460637 |
|  NatWest Group plc | 373412 | 2619485 |
|  Next plc | 5785 | 962805 |
|  Pearson plc | 34336 | 487876 |
|  Persimmon plc | 16556 | 258065 |
|  Phoenix Group Holdings plc | 36040 | 311906 |
|  Reckitt Benckiser Group plc | 134608 | 10351541 |
|  RELX plc | 90728 | 4340254 |
|  Rentokil Initial plc | 762567 | 3854116 |
|  Rightmove plc | 40654 | 387431 |
|  Rolls-Royce Holdings plc | 418271 | 6694139 |
|  Sage Group plc (The) | 48739 | 721040 |
|  Schroders plc | 441837 | 2234292 |
|  Segro plc (REIT) | 66450 | 585722 |
|  Severn Trent plc | 13442 | 467862 |
|  Smith & Nephew plc | 44303 | 796924 |
|  Smiths Group plc | 17426 | 551220 |
|  Spirax Group plc | 3743 | 343064 |
|  SSE plc | 55521 | 1300381 |
|  St James's Place plc | 25555 | 436485 |
|  Standard Chartered plc | 95401 | 1841815 |
|  Tesco plc | 329433 | 1973808 |
|  Unilever plc | 121396 | 7183681 |
|  United Utilities Group plc | 34540 | 532582 |
|  Vodafone Group plc | 977596 | 1132805 |
|  Weir Group plc (The) | 13625 | 500619 |
|  Whitbread plc | 8875 | 384339 |
|  WPP plc | 54097 | 267593 |
|  |  | 145073973 |
|  **United States (5.6%)** |  |  |
|  Alcoa Corp. (CRDI) | 1561 | 52245 |
|  Amcor plc (CHDI) | 20206 | 164321 |
|  Block, Inc. (CRDI)\* | 1701 | 129709 |
|  BP plc | 786159 | 4501477 |
|  CNH Industrial NV | 731300 | 7934605 |
|  CSL Ltd. | 16552 | 2170777 |
|  Experian plc | 45506 | 2277902 |
|  GSK plc | 199470 | 4223867 |
|  Haleon plc | 444524 | 1987221 |
|  James Hardie Industries plc (CHDI)\* | 20962 | 389485 |
|  Life360, Inc. (CRDI)(m)\* | 8300 | 292290 |
|  Light & Wonder, Inc. (CRDI)\* | 619 | 53100 |
|  Newmont Corp. (CRDI) | 3851 | 329279 |
|  News Corp. (CHDI), Class B | 1221 | 41988 |
|  Novartis AG (Registered) | 27500 | 3458702 |
|  Reliance Worldwide Corp. Ltd. | 24282 | 65716 |
|  ResMed, Inc. (CHDI) | 20882 | 566937 |
|  Roche Holding AG | 14100 | 4603467 |
|  Sanofi SA | 59605 | 5496870 |
|  Schneider Electric SE | 30205 | 8425814 |
|  Shell plc | 295017 | 10500475 |
|  Sims Ltd. | 6752 | 59735 |
|  |  | 57725982 |
|  **Total Common Stocks (89.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *(Cost $633,591,418)* |  | 912292793 |

---

See Notes to Portfolio of Investments.

570

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  CLOSED END FUNDS: |  |  |
|  **United Kingdom (0.1%)** |  |  |
|  F&C Investment Trust plc | 23687 | $383236 |
|  Polar Capital Technology Trust plc\* | 59425 | 349653 |
|  Scottish Mortgage Investment Trust plc | 58354 | 892713 |
|  |  | 1625602 |
|  **United States (0.1%)** |  |  |
|  Pershing Square Holdings Ltd. | 6442 | 399750 |
|  Total Closed End Funds (0.2%)<br>(*Cost $1,127,254*) |  | 2025352 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.8%)** |  |  |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 50000 | 50000 |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 100000 | 100000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 7061487 | 7061487 |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 1000000 | 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 8211487 |
|  **Total Short-Term Investments (0.8%)**<br> *(Cost $8,211,487)* |  | 8211487 |
|  **Total Investments in Securities (90.3%)**<br> *(Cost $642,930,159)* |  | 922529632 |
|  **Other Assets Less Liabilities (9.7%)** |  | 98659065 |
|  **Net Assets (100%)** |  | $1021188697 |

---

*\** *Non-income producing.* 

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $6,970,889 or 0.7% of net assets.* 

*(q)* *Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $20,987,132. This was collateralized by $14,120,111 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.250%, maturing 10/9/25 – 5/15/55 and by cash of $8,211,631 of which $8,211,487 was subsequently invested in investment companies.* 

See Notes to Portfolio of Investments.

571

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*Glossary:* 

*ADR — American Depositary Receipt* 

*AUD — Australian Dollar* 

*CRDI — CREST Depository Interest* 

*CHDI — Clearing House Electronic Subregister System (CHESS) Depository Interest* 

*EUR — European Currency Unit* 

*GBP — British Pound* 

*JPY — Japanese Yen* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

---

| | | |
|:---|:---|:---|
| **Sector Weightings**<br> **as of September 30, 2025** | **Market**<br>**Value** | **% of<br>Net Assets** |
|  Financials | $191927175 | 18.8% |
|  Industrials | 190033900 | 18.6 |
|  Consumer Discretionary | 132343052 | 12.9 |
|  Information Technology | 91524979 | 9.0 |
|  Consumer Staples | 82779230 | 8.1 |
|  Health Care | 79360756 | 7.8 |
|  Materials | 56089813 | 5.5 |
|  Communication Services | 29714141 | 2.9 |
|  Energy | 27714113 | 2.7 |
|  Utilities | 19219879 | 1.9 |
|  Real Estate | 11585755 | 1.1 |
|  Investment Companies | 8211487 | 0.8 |
|  Closed End Funds | 2025352 | 0.2 |
|  Cash and Other | 98659065 | 9.7 |
|  |  | 100.0% |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation**<br>**(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  EURO STOXX 50 Index | 616 | 12/2025 | EUR | 40073332 | 739058 |
|  FTSE 100 Index | 199 | 12/2025 | GBP | 25177772 | 195365 |
|  SPI 200 Index | 69 | 12/2025 | AUD | 10127931 | (8808) |
|  TOPIX Index | 117 | 12/2025 | JPY | 24850188 | 294090 |
|  |  |  |  |  | 1219705 |

---

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation**<br>**(Depreciation) ($)** |
|  AUD | 8518942 | USD | 5670869 | HSBC Bank plc | 12/19/2025 | (28639) |
|  GBP | 6952373 | USD | 9428169 | HSBC Bank plc | 12/19/2025 | (77108) |
|  JPY | 735404618 | USD | 5044286 | HSBC Bank plc | 12/19/2025 | (30502) |
|  USD | 10991708 | EUR | 9321209 | HSBC Bank plc | 12/19/2025 | (2066) |
|  **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** |  | (138315) |

---

See Notes to Portfolio of Investments.

572

------

**EQ ADVISORS TRUST** 

EQ/INTERNATIONAL VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other**<br>**Observable Inputs**<br>**(including quoted prices<br>for similar securities,**<br>**interest rates,**<br>**prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Closed End Funds** | $— | $2025352 | $— | $2025352 |
|  **Common Stocks** |  |  |  |  |
|  Australia |  | 68468584 | 209559 | 68678143 |
|  Austria |  | 305251 |  | 305251 |
|  Belgium |  | 3202761 |  | 3202761 |
|  Brazil |  | 39949 |  | 39949 |
|  Canada |  | 47965 |  | 47965 |
|  Chile |  | 620867 |  | 620867 |
|  China |  | 16322897 |  | 16322897 |
|  Denmark |  | 6682426 |  | 6682426 |
|  Finland |  | 2820276 |  | 2820276 |
|  France |  | 138093169 |  | 138093169 |
|  Germany |  | 140988764 |  | 140988764 |
|  Hong Kong |  | 6808847 |  | 6808847 |
|  India |  | 4180313 |  | 4180313 |
|  Indonesia |  | 5129079 |  | 5129079 |
|  Italy | 2691834 | 23823712 |  | 26515546 |
|  Ivory Coast |  | 365763 |  | 365763 |
|  Japan |  | 171245057 | 32606 | 171277663 |
|  Luxembourg |  | 4380982 |  | 4380982 |
|  Mexico | 4433419 | 302415 |  | 4735834 |
|  Netherlands | 5159920 | 46666087 |  | 51826007 |
|  New Zealand |  | 1023137 |  | 1023137 |
|  Nigeria |  | 89193 |  | 89193 |
|  South Africa |  | 1965588 |  | 1965588 |
|  South Korea |  | 12561204 |  | 12561204 |
|  Spain |  | 23175402 |  | 23175402 |
|  Sweden |  | 12323484 |  | 12323484 |
|  Switzerland |  | 5332328 |  | 5332328 |
|  United Kingdom | 2716022 | 142357951 |  | 145073973 |
|  United States | 7934605 | 49791377 |  | 57725982 |
|  **Futures** | 1228513 |  |  | 1228513 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 8211487 |  |  | 8211487 |
|  **Total Assets** | $**32375800** | $**891140180** | $**242165** | $**923758145** |
|  **Liabilities:** |  |  |  |  |
|  **Forward Currency Contracts** | $— | $(138315) | $— | $(138315) |
|  **Futures** | (8808) |  |  | (8808) |
|  **Total Liabilities** | $**(8808)** | $**(138315)** | $**—** | $**(147123)** |
|  **Total** | $**32366992** | $**891001865** | $**242165** | $**923611022** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $327457786 |
|  Aggregate gross unrealized depreciation | (58958049) |
|  Net unrealized appreciation | $268499737 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $655111285 |

---

See Notes to Portfolio of Investments.

573

------

**EQ ADVISORS TRUST** 

EQ/INVESCO COMSTOCK PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (7.7%)** |  |  |
|  ***Entertainment (1.3%)*** |  |  |
|  Universal Music Group NV | 58617 | $1690202 |
|  Walt Disney Co. (The) | 21603 | 2473543 |
|  |  | 4163745 |
|  ***Interactive Media & Services (4.4%)*** |  |  |
|  Alphabet, Inc., Class A | 36039 | 8761081 |
|  Meta Platforms, Inc., Class A | 7397 | 5432209 |
|  |  | 14193290 |
|  ***Media (2.0%)*** |  |  |
|  Charter Communications, Inc., Class A\* | 14523 | 3995350 |
|  Comcast Corp., Class A | 77600 | 2438192 |
|  |  | 6433542 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 24790577 |
|  **Consumer Discretionary (6.0%)** |  |  |
|  ***Broadline Retail (1.4%)*** |  |  |
|  eBay, Inc. | 48338 | 4396341 |
|  ***Hotels, Restaurants & Leisure (3.8%)*** |  |  |
|  Domino's Pizza, Inc. | 7219 | 3116514 |
|  Las Vegas Sands Corp. | 36878 | 1983668 |
|  Restaurant Brands International, Inc. | 55366 | 3551826 |
|  Starbucks Corp. | 41500 | 3510900 |
|  |  | 12162908 |
|  ***Textiles, Apparel & Luxury Goods (0.8%)*** |  |  |
|  NIKE, Inc., Class B | 37128 | 2588936 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 19148185 |
|  **Consumer Staples (8.8%)** |  |  |
|  ***Beverages (1.6%)*** |  |  |
|  Anheuser-Busch InBev SA/NV | 47794 | 2850517 |
|  Coca-Cola Co. (The) | 34191 | 2267547 |
|  |  | 5118064 |
|  ***Consumer Staples Distribution & Retail (1.7%)*** |  |  |
|  Sysco Corp. | 67057 | 5521473 |
|  ***Household Products (3.8%)*** |  |  |
|  Clorox Co. (The) | 22134 | 2729122 |
|  Kimberly-Clark Corp. | 35864 | 4459330 |
|  Reckitt Benckiser Group plc | 63359 | 4872395 |
|  |  | 12060847 |
|  ***Tobacco (1.7%)*** |  |  |
|  Philip Morris International, Inc. | 33645 | 5457219 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 28157603 |
|  **Energy (7.0%)** |  |  |
|  ***Energy Equipment & Services (0.5%)*** |  |  |
|  Tenaris SA | 92732 | 1653766 |
|  ***Oil, Gas & Consumable Fuels (6.5%)*** |  |  |
|  Chevron Corp. | 49138 | 7630640 |
|  ConocoPhillips | 43018 | 4069073 |
|  EQT Corp. | 31076 | 1691467 |
|  Exxon Mobil Corp. | 25354 | 2858663 |
|  Suncor Energy, Inc. | 109546 | 4580118 |
|  |  | 20829961 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 22483727 |
|  **Financials (20.4%)** |  |  |
|  ***Banks (14.4%)*** |  |  |
|  Bank of America Corp. | 221187 | 11411037 |
|  Citigroup, Inc. | 60346 | 6125119 |
|  Citizens Financial Group, Inc. | 107768 | 5728947 |
|  Fifth Third Bancorp | 103435 | 4608029 |
|  Huntington Bancshares, Inc. | 317428 | 5481981 |
|  M&T Bank Corp. | 19630 | 3879281 |
|  Wells Fargo & Co. | 108367 | 9083322 |
|  |  | 46317716 |
|  ***Capital Markets (2.6%)*** |  |  |
|  Goldman Sachs Group, Inc. (The) | 2265 | 1803733 |
|  State Street Corp. | 57627 | 6685308 |
|  |  | 8489041 |
|  ***Consumer Finance (0.4%)*** |  |  |
|  Capital One Financial Corp. | 5984 | 1272079 |
|  ***Insurance (3.0%)*** |  |  |
|  Allstate Corp. (The) | 11236 | 2411807 |
|  American International Group, Inc. | 52005 | 4084473 |
|  MetLife, Inc. | 37405 | 3081050 |
|  |  | 9577330 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 65656166 |
|  **Health Care (16.4%)** |  |  |
|  ***Biotechnology (0.4%)*** |  |  |
|  Regeneron Pharmaceuticals, Inc. | 2419 | 1360131 |
|  ***Health Care Equipment & Supplies (2.6%)*** |  |  |
|  Becton Dickinson & Co. | 15944 | 2984238 |
|  GE HealthCare Technologies, Inc. | 27183 | 2041443 |
|  Medtronic plc | 35102 | 3343115 |
|  |  | 8368796 |
|  ***Health Care Providers & Services (6.2%)*** |  |  |
|  CVS Health Corp. | 111072 | 8373718 |
|  Elevance Health, Inc. | 15216 | 4916594 |
|  Henry Schein, Inc.\* | 32829 | 2178861 |
|  Humana, Inc. | 7447 | 1937486 |
|  UnitedHealth Group, Inc. | 7707 | 2661227 |
|  |  | 20067886 |
|  ***Life Sciences Tools & Services (1.3%)*** |  |  |
|  ICON plc\* | 11794 | 2063950 |
|  IQVIA Holdings, Inc.\* | 10734 | 2038816 |
|  |  | 4102766 |
|  ***Pharmaceuticals (5.9%)*** |  |  |
|  AstraZeneca plc | 29028 | 4365426 |
|  Bristol-Myers Squibb Co. | 40816 | 1840802 |
|  Johnson & Johnson | 23896 | 4430796 |
|  Merck & Co., Inc. | 47415 | 3979541 |
|  Sanofi SA (ADR) | 91349 | 4311673 |
|  |  | 18928238 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 52827817 |
|  **Industrials (10.3%)** |  |  |
|  ***Aerospace & Defense (1.3%)*** |  |  |
|  Textron, Inc. | 49843 | 4211235 |
|  ***Air Freight & Logistics (1.7%)*** |  |  |
|  FedEx Corp. | 23100 | 5447211 |
|  ***Building Products (1.5%)*** |  |  |
|  Johnson Controls International plc | 44655 | 4909817 |
|  ***Electrical Equipment (2.7%)*** |  |  |
|  Eaton Corp. plc | 12089 | 4524308 |
|  Emerson Electric Co. | 31757 | 4165884 |
|  |  | 8690192 |
|  ***Machinery (2.3%)*** |  |  |
|  Caterpillar, Inc. | 7632 | 3641609 |

---

See Notes to Portfolio of Investments.

574

------

**EQ ADVISORS TRUST** 

EQ/INVESCO COMSTOCK PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Westinghouse Air Brake Technologies Corp. | 17828 | $3573979 |
|  |  | 7215588 |
|  ***Professional Services (0.8%)*** |  |  |
|  TransUnion | 30549 | 2559395 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 33033438 |
|  **Information Technology (11.5%)** |  |  |
|  ***Communications Equipment (3.0%)*** |  |  |
|  Cisco Systems, Inc. | 112824 | 7719418 |
|  F5, Inc.\* | 6047 | 1954330 |
|  |  | 9673748 |
|  ***IT Services (2.0%)*** |  |  |
|  Cognizant Technology Solutions Corp., Class A | 70152 | 4705094 |
|  DXC Technology Co.\* | 124617 | 1698530 |
|  |  | 6403624 |
|  ***Semiconductors & Semiconductor Equipment (3.5%)*** |  |  |
|  Intel Corp.\* | 99568 | 3340506 |
|  NXP Semiconductors NV | 24509 | 5581435 |
|  QUALCOMM, Inc. | 13969 | 2323883 |
|  |  | 11245824 |
|  ***Software (3.0%)*** |  |  |
|  Microsoft Corp. | 18615 | 9641639 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 36964835 |
|  **Materials (2.8%)** |  |  |
|  ***Chemicals (1.8%)*** |  |  |
|  Corteva, Inc. | 27463 | 1857323 |
|  International Flavors & Fragrances, Inc. | 63066 | 3881081 |
|  |  | 5738404 |
|  ***Containers & Packaging (1.0%)*** |  |  |
|  International Paper Co. | 69182 | 3210045 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 8948449 |
|  **Real Estate (0.8%)** |  |  |
|  ***Specialized REITs (0.8%)*** |  |  |
|  SBA Communications Corp. (REIT) | 12922 | 2498469 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 2498469 |
|  **Utilities (4.0%)** |  |  |
|  ***Electric Utilities (0.9%)*** |  |  |
|  Evergy, Inc. | 36214 | 2752988 |
|  ***Multi-Utilities (3.1%)*** |  |  |
|  Dominion Energy, Inc. | 67801 | 4147387 |
|  Sempra | 65599 | 5902598 |
|  |  | 10049985 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 12802973 |
|  **Total Common Stocks (95.7%)**<br> *(Cost $203,783,042)* |  | 307312239 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (2.3%)** |  |  |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 7352868 | 7355809 |
|  **Total Short-Term Investments (2.3%)**<br> *(Cost $7,355,451)* |  | 7355809 |
|  **Total Investments in Securities (98.0%)**<br> *(Cost $211,138,493)* |  | 314668048 |
|  **Other Assets Less Liabilities (2.0%)** |  | 6554419 |
|  **Net Assets (100%)** |  | $321222467 |

---

*\** *Non-income producing.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*CAD — Canadian Dollar* 

*EUR — European Currency Unit* 

*GBP — British Pound* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

575

------

**EQ ADVISORS TRUST** 

EQ/INVESCO COMSTOCK PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  EUR | 189678 | USD | 222672 | Deutsche Bank AG | 10/8/2025 | 101 |
|  GBP | 82931 | USD | 111182 | Royal Bank of Canada | 10/8/2025 | 357 |
|  USD | 105375 | CAD | 145831 | Barclays Bank plc | 10/8/2025 | 558 |
|  USD | 105404 | CAD | 145831 | JPMorgan Chase Bank | 10/8/2025 | 588 |
|  USD | 3957023 | CAD | 5466873 | Royal Bank of Canada | 10/8/2025 | 27690 |
|  **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** |  | 29294 |
|  CAD | 192479 | USD | 139661 | Deutsche Bank AG | 10/8/2025 | (1316) |
|  GBP | 77784 | USD | 104787 | CIBC World Markets, Inc. | 10/8/2025 | (171) |
|  USD | 133655 | CAD | 186253 | Goldman Sachs International | 10/8/2025 | (215) |
|  USD | 5362974 | EUR | 4598536 | Royal Bank of Canada | 10/8/2025 | (37928) |
|  USD | 4714287 | GBP | 3510982 | Deutsche Bank AG | 10/8/2025 | (7804) |
|  **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** |  | (47434) |
|  **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** |  | (18140) |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active**<br>**Markets for Identical**<br>**Securities** | **Level 2**<br>**Significant Other**<br>**Observable Inputs**<br>**(including quoted prices**<br>**for similar securities,**<br>**interest rates, prepayment**<br>**speeds, credit risk, etc.)** | **Level 3**<br>**Significant Unobservable**<br>**Inputs (including the**<br>**Portfolio's own**<br>**assumptions in**<br>**determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $23100375 | $1690202 | $— | $24790577 |
|  Consumer Discretionary | 19148185 |  |  | 19148185 |
|  Consumer Staples | 20434691 | 7722912 |  | 28157603 |
|  Energy | 20829961 | 1653766 |  | 22483727 |
|  Financials | 65656166 |  |  | 65656166 |
|  Health Care | 48462391 | 4365426 |  | 52827817 |
|  Industrials | 33033438 |  |  | 33033438 |
|  Information Technology | 36964835 |  |  | 36964835 |
|  Materials | 8948449 |  |  | 8948449 |
|  Real Estate | 2498469 |  |  | 2498469 |
|  Utilities | 12802973 |  |  | 12802973 |
|  **Forward Currency Contracts** |  | 29294 |  | 29294 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 7355809 |  |  | 7355809 |
|  **Total Assets** | $**299235742** | $**15461600** | $**—** | $**314697342** |
|  **Liabilities:** |  |  |  |  |
|  **Forward Currency Contracts** | $**—** | $**(47434)** | $**—** | $**(47434)** |
|  **Total Liabilities** | $**—** | $**(47434)** | $**—** | $**(47434)** |
|  **Total** | $**299235742** | $**15414166** | $**—** | $**314649908** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $111256187 |
|  Aggregate gross unrealized depreciation | (8693256) |
|  Net unrealized appreciation | $102562931 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $212086977 |

---

See Notes to Portfolio of Investments.

576

------

**EQ ADVISORS TRUST** 

EQ/INVESCO GLOBAL PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Brazil (0.6%)** |  |  |
|  MercadoLibre, Inc.\* | 1323 | $3091772 |
|  **Canada (2.2%)** |  |  |
|  Shopify, Inc., Class A\* | 76166 | 11319029 |
|  **China (3.2%)** |  |  |
|  JD.com, Inc. (ADR) | 307195 | 10745681 |
|  Tencent Holdings Ltd. | 64700 | 5512256 |
|  |  | 16257937 |
|  **France (5.9%)** |  |  |
|  Airbus SE | 76914 | 17825394 |
|  EssilorLuxottica SA | 18306 | 5931836 |
|  LVMH Moet Hennessy Louis Vuitton SE | 10446 | 6383478 |
|  |  | 30140708 |
|  **Germany (3.6%)** |  |  |
|  Allianz SE (Registered) | 9477 | 3976601 |
|  SAP SE | 53334 | 14270365 |
|  |  | 18246966 |
|  **India (5.3%)** |  |  |
|  DLF Ltd. | 2073147 | 16647985 |
|  HDFC Bank Ltd. | 228494 | 2447357 |
|  ICICI Bank Ltd. (ADR) | 265665 | 8031053 |
|  |  | 27126395 |
|  **Israel (0.4%)** |  |  |
|  Nice Ltd. (ADR)(x)\* | 15550 | 2251329 |
|  **Italy (1.4%)** |  |  |
|  Brunello Cucinelli SpA(x) | 40701 | 4444006 |
|  Ferrari NV | 4041 | 1952769 |
|  Moncler SpA | 16488 | 965370 |
|  |  | 7362145 |
|  **Japan (2.3%)** |  |  |
|  Capcom Co. Ltd. | 141400 | 3846585 |
|  Hoya Corp. | 18200 | 2519830 |
|  Keyence Corp. | 13756 | 5132745 |
|  |  | 11499160 |
|  **Netherlands (2.3%)** |  |  |
|  Adyen NV(m)\* | 4025 | 6450377 |
|  ASML Holding NV | 1555 | 1511819 |
|  BE Semiconductor Industries NV | 15083 | 2246285 |
|  Universal Music Group NV | 44312 | 1277722 |
|  |  | 11486203 |
|  **Spain (1.3%)** |  |  |
|  Amadeus IT Group SA | 85102 | 6744195 |
|  **Sweden (1.1%)** |  |  |
|  Assa Abloy AB, Class B | 81377 | 2823093 |
|  Atlas Copco AB, Class A | 151532 | 2557618 |
|  |  | 5380711 |
|  **Switzerland (1.8%)** |  |  |
|  Galderma Group AG | 15788 | 2742893 |
|  Lonza Group AG (Registered) | 9327 | 6176992 |
|  |  | 8919885 |
|  **Taiwan (3.7%)** |  |  |
|  Taiwan Semiconductor Manufacturing Co. Ltd. | 438000 | 18754183 |
|  **United States (64.1%)** |  |  |
|  Alphabet, Inc., Class A | 204358 | 49679430 |
|  Amazon.com, Inc.\* | 47016 | 10323303 |
|  Analog Devices, Inc. | 63341 | 15562884 |
|  ARM Holdings plc (ADR)(x)\* | 27963 | 3956485 |
|  Boston Scientific Corp.\* | 68886 | 6725340 |
|  Broadcom, Inc. | 46176 | 15233924 |
|  Cadence Design Systems, Inc.\* | 8192 | 2877522 |
|  Ecolab, Inc. | 10923 | 2991373 |
|  Eli Lilly & Co. | 16746 | 12777198 |
|  Equifax, Inc. | 21624 | 5547205 |
|  IDEXX Laboratories, Inc.\* | 3792 | 2422671 |
|  Intuit, Inc. | 19042 | 13003972 |
|  Intuitive Surgical, Inc.\* | 13839 | 6189216 |
|  IQVIA Holdings, Inc.\* | 12061 | 2290866 |
|  Lam Research Corp. | 103819 | 13901364 |
|  Linde plc | 3375 | 1603125 |
|  Marriott International, Inc., Class A | 17926 | 4668647 |
|  Marvell Technology, Inc. | 77412 | 6508027 |
|  Mastercard, Inc., Class A | 8504 | 4837160 |
|  Meta Platforms, Inc., Class A | 49287 | 36195387 |
|  Microsoft Corp. | 30423 | 15757593 |
|  Netflix, Inc.\* | 8383 | 10050546 |
|  NVIDIA Corp. | 144797 | 27016224 |
|  Phathom Pharmaceuticals, Inc.(x)\* | 104625 | 1231436 |
|  S&P Global, Inc. | 38950 | 18957355 |
|  ServiceNow, Inc.\* | 3152 | 2900723 |
|  Spotify Technology SA\* | 6877 | 4800146 |
|  Stryker Corp. | 5947 | 2198428 |
|  Thermo Fisher Scientific, Inc. | 10730 | 5204265 |
|  TJX Cos., Inc. (The) | 26093 | 3771482 |
|  Visa, Inc., Class A | 44489 | 15187655 |
|  Zoetis, Inc. | 8370 | 1224698 |
|  |  | 325595650 |
|  **Total Investments in Securities (99.2%)**<br> *(Cost $251,298,881)* |  | 504176268 |
|  **Other Assets Less Liabilities (0.8%)** |  | 3923285 |
|  **Net Assets (100%)** |  | $508099553 |

---

See Notes to Portfolio of Investments.

577

------

**EQ ADVISORS TRUST** 

EQ/INVESCO GLOBAL PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $6,450,377 or 1.3% of net assets.* 

*(x)* *All or a portion of security is on loan at September 30, 2025, the Portfolio had loaned securities with a total value of $9,356,887. This was collateralized by $9,552,703 of various U.S. Government Treasury Securities, ranging from 0.000% – 5.375%, maturing 10/23/25 – 2/15/55.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

---

| | | |
|:---|:---|:---|
| **Sector Weightings**<br> **as of September 30, 2025** | **Market<br>Value** | **% of<br>Net Assets** |
|  Information Technology | $172204473 | 33.9% |
|  Communication Services | 111362072 | 21.9 |
|  Financials | 59887558 | 11.8 |
|  Health Care | 57635669 | 11.3 |
|  Consumer Discretionary | 53090703 | 10.4 |
|  Industrials | 28753310 | 5.7 |
|  Real Estate | 16647985 | 3.3 |
|  Materials | 4594498 | 0.9 |
|  Cash and Other | 3923285 | 0.8 |
|  |  | 100.0% |

---

See Notes to Portfolio of Investments.

578

------

**EQ ADVISORS TRUST** 

EQ/INVESCO GLOBAL PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active**<br>**Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Brazil | $3091772 | $— | $— | $3091772 |
|  Canada | 11319029 |  |  | 11319029 |
|  China | 10745681 | 5512256 |  | 16257937 |
|  France |  | 30140708 |  | 30140708 |
|  Germany |  | 18246966 |  | 18246966 |
|  India | 8031053 | 19095342 |  | 27126395 |
|  Israel | 2251329 |  |  | 2251329 |
|  Italy |  | 7362145 |  | 7362145 |
|  Japan |  | 11499160 |  | 11499160 |
|  Netherlands |  | 11486203 |  | 11486203 |
|  Spain |  | 6744195 |  | 6744195 |
|  Sweden |  | 5380711 |  | 5380711 |
|  Switzerland |  | 8919885 |  | 8919885 |
|  Taiwan |  | 18754183 |  | 18754183 |
|  United States | 325595650 |  |  | 325595650 |
|  **Total Assets** | $**361034514** | $**143141754** | $**—** | $**504176268** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**361034514** | $**143141754** | $**—** | $**504176268** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $258536573 |
|  Aggregate gross unrealized depreciation | (5880357) |
|  Net unrealized appreciation | $252656216 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $251520052 |

---

See Notes to Portfolio of Investments.

579

------

**EQ ADVISORS TRUST** 

EQ/INVESCO GLOBAL REAL ASSETS PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Australia (3.8%)** |  |  |
|  BHP Group Ltd. | 70916 | $1995725 |
|  Glencore plc | 776830 | 3568896 |
|  Rio Tinto plc | 31816 | 2091329 |
|  Transurban Group | 73152 | 667984 |
|  |  | 8323934 |
|  **Austria (0.7%)** |  |  |
|  Mondi plc | 115548 | 1591301 |
|  **Belgium (0.7%)** |  |  |
|  Warehouses De Pauw CVA (REIT) | 64593 | 1613778 |
|  **Canada (9.4%)** |  |  |
|  Agnico Eagle Mines Ltd. | 1997 | 336349 |
|  Enbridge, Inc. | 120505 | 6079368 |
|  Franco-Nevada Corp. | 3340 | 743430 |
|  Keyera Corp. | 81769 | 2743260 |
|  Nutrien Ltd.(x) | 52987 | 3111754 |
|  Pembina Pipeline Corp. | 74721 | 3021162 |
|  TC Energy Corp.(x) | 53177 | 2891358 |
|  West Fraser Timber Co. Ltd.(x) | 30085 | 2045226 |
|  |  | 20971907 |
|  **China (0.7%)** |  |  |
|  China Tower Corp. Ltd., Class H(m) | 1005000 | 1482585 |
|  **Finland (0.5%)** |  |  |
|  Stora Enso OYJ, Class R | 44544 | 488244 |
|  UPM-Kymmene OYJ | 19299 | 527251 |
|  |  | 1015495 |
|  **France (6.8%)** |  |  |
|  Aeroports de Paris SA(x) | 6962 | 917911 |
|  Gecina SA (REIT) | 21728 | 2175982 |
|  Getlink SE | 206006 | 3787549 |
|  TotalEnergies SE | 28612 | 1737710 |
|  Unibail-Rodamco-Westfield (REIT) | 6885 | 722973 |
|  Vinci SA | 40847 | 5656460 |
|  |  | 14998585 |
|  **Germany (1.0%)** |  |  |
|  LEG Immobilien SE | 28251 | 2245479 |
|  **Hong Kong (0.2%)** |  |  |
|  Link REIT (REIT) | 69200 | 355695 |
|  **Italy (1.6%)** |  |  |
|  Infrastrutture Wireless Italiane SpA(m) | 111592 | 1311456 |
|  Snam SpA | 190207 | 1142913 |
|  Terna - Rete Elettrica Nazionale | 113204 | 1148052 |
|  |  | 3602421 |
|  **Japan (2.2%)** |  |  |
|  Japan Airport Terminal Co. Ltd. | 13100 | 418374 |
|  Mitsui Fudosan Co. Ltd. | 227200 | 2478099 |
|  Nippon Prologis REIT, Inc. (REIT) | 2559 | 1495064 |
|  Sumitomo Forestry Co. Ltd.(x) | 33300 | 396646 |
|  |  | 4788183 |
|  **Singapore (0.9%)** |  |  |
|  CapitaLand Ascendas REIT (REIT) | 363100 | 785340 |
|  CapitaLand Investment Ltd. | 236800 | 493811 |
|  Mapletree Logistics Trust (REIT) | 830100 | 804392 |
|  |  | 2083543 |
|  **Spain (1.6%)** |  |  |
|  Cellnex Telecom SA(m) | 65596 | 2271113 |
|  Redeia Corp. SA | 67859 | 1309772 |
|  |  | 3580885 |
|  **Sweden (0.6%)** |  |  |
|  Billerud Aktiebolag | 76124 | 683259 |
|  Svenska Cellulosa AB SCA, Class B | 57249 | 756173 |
|  |  | 1439432 |
|  **Switzerland (0.8%)** |  |  |
|  PSP Swiss Property AG (Registered) | 4617 | 792845 |
|  Swiss Prime Site AG (Registered) | 6398 | 894538 |
|  |  | 1687383 |
|  **United Kingdom (8.4%)** |  |  |
|  National Grid plc | 551069 | 7911592 |
|  Pennon Group plc | 89666 | 563887 |
|  Segro plc (REIT) | 370780 | 3268231 |
|  Severn Trent plc | 37433 | 1302894 |
|  Tritax Big Box REIT plc (REIT) | 1269562 | 2467242 |
|  UNITE Group plc (The) (REIT)(x) | 271545 | 2625794 |
|  United Utilities Group plc | 37148 | 572795 |
|  |  | 18712435 |
|  **United States (59.2%)** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) | 12829 | 1069169 |
|  American Homes 4 Rent (REIT), Class A | 61917 | 2058740 |
|  American Tower Corp. (REIT) | 26688 | 5132636 |
|  AvalonBay Communities, Inc. (REIT) | 9822 | 1897316 |
|  Brixmor Property Group, Inc. (REIT) | 125386 | 3470684 |
|  Cheniere Energy, Inc. | 22752 | 5346265 |
|  Chevron Corp. | 7916 | 1229276 |
|  ConocoPhillips | 18269 | 1728065 |
|  Consolidated Edison, Inc. | 9976 | 1002787 |
|  Corteva, Inc. | 57808 | 3909555 |
|  Crown Castle, Inc. (REIT) | 13661 | 1318150 |
|  Devon Energy Corp. | 51531 | 1806677 |
|  Digital Realty Trust, Inc. (REIT) | 11497 | 1987601 |
|  Edison International | 37350 | 2064708 |
|  EOG Resources, Inc. | 6990 | 783719 |
|  Equinix, Inc. (REIT) | 6661 | 5217162 |
|  Equity LifeStyle Properties, Inc. (REIT) | 46876 | 2845373 |
|  Equity Residential (REIT) | 26175 | 1694308 |
|  Essential Utilities, Inc. | 88631 | 3536377 |
|  Extra Space Storage, Inc. (REIT) | 9941 | 1401085 |
|  Exxon Mobil Corp. | 31825 | 3588269 |
|  Federal Realty Investment Trust (REIT) | 42571 | 4312868 |
|  Freeport-McMoRan, Inc. | 73847 | 2896279 |
|  Healthpeak Properties, Inc. (REIT) | 38644 | 740033 |
|  Host Hotels & Resorts, Inc. (REIT) | 39367 | 670026 |
|  International Paper Co. | 15563 | 722123 |
|  Invitation Homes, Inc. (REIT) | 66340 | 1945752 |
|  Kimco Realty Corp. (REIT) | 49589 | 1083520 |
|  Kinder Morgan, Inc. | 168269 | 4763695 |
|  Mid-America Apartment Communities, Inc. (REIT) | 7617 | 1064323 |
|  Newmont Corp. | 21290 | 1794960 |
|  ONEOK, Inc. | 57489 | 4194972 |
|  PG&E Corp. | 135754 | 2047170 |
|  PotlatchDeltic Corp. (REIT) | 24157 | 984398 |
|  Prologis, Inc. (REIT) | 84371 | 9662167 |
|  Public Storage (REIT) | 12068 | 3485842 |
|  Realty Income Corp. (REIT) | 24609 | 1495981 |
|  Regency Centers Corp. (REIT) | 37303 | 2719389 |
|  Rexford Industrial Realty, Inc. (REIT) | 66529 | 2735007 |
|  SBA Communications Corp. (REIT) | 2305 | 445672 |
|  Sempra | 22504 | 2024910 |
|  Shell plc | 60107 | 2139375 |
|  Simon Property Group, Inc. (REIT) | 24444 | 4587405 |
|  Smurfit WestRock plc | 29905 | 1273056 |
|  Targa Resources Corp. | 27492 | 4606010 |
|  Ventas, Inc. (REIT) | 58614 | 4102394 |
|  Welltower, Inc. (REIT) | 38802 | 6912188 |

---

See Notes to Portfolio of Investments.

580

------

**EQ ADVISORS TRUST** 

EQ/INVESCO GLOBAL REAL ASSETS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Weyerhaeuser Co. (REIT) | 60295 | $1494713 |
|  Williams Cos., Inc. (The) | 53548 | 3392266 |
|  |  | 131384416 |
|  **Total Common Stocks (99.1%)**<br> *(Cost $207,437,802)* |  | 219877457 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (3.3%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 7283752 | 7283752 |
|  **Total Short-Term Investments (3.3%)**<br> *(Cost $7,283,752)* |  | 7283752 |
|  **Total Investments in Securities (102.4%)**<br> *(Cost $214,721,554)* |  | 227161209 |
|  **Other Assets Less Liabilities (-2.4%)** |  | (5249308) |
|  **Net Assets (100%)** |  | $221911901 |

---

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $5,065,154 or 2.3% of net assets.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $8,165,911. This was collateralized by $1,210,168 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.000%, maturing 10/15/25 – 5/15/55 and by cash of $7,283,752 which was subsequently invested in investment companies.* 

*Glossary:* 

*CVA — Dutch Certification* 

*REIT — Real Estate Investment Trust* 

---

| | | |
|:---|:---|:---|
| **Sector Weightings**<br> **as of September 30, 2025** | **Market<br>Value** | **% of<br>Net Assets** |
|  Real Estate | $99753165 | 44.9% |
|  Energy | 50051447 | 22.5 |
|  Materials | 28534910 | 12.9 |
|  Utilities | 24627857 | 11.1 |
|  Industrials | 11448278 | 5.2 |
|  Investment Companies | 7283752 | 3.3 |
|  Communication Services | 5065154 | 2.3 |
|  Consumer Discretionary | 396646 | 0.2 |
|  Cash and Other | (5249308) | (2.4) |
|  |  | 100.0% |

---

See Notes to Portfolio of Investments.

581

------

**EQ ADVISORS TRUST** 

EQ/INVESCO GLOBAL REAL ASSETS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active**<br>**Markets for Identical**<br>**Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in**<br>**determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Australia | $— | $8323934 | $— | $8323934 |
|  Austria |  | 1591301 |  | 1591301 |
|  Belgium |  | 1613778 |  | 1613778 |
|  Canada | 20971907 |  |  | 20971907 |
|  China |  | 1482585 |  | 1482585 |
|  Finland |  | 1015495 |  | 1015495 |
|  France |  | 14998585 |  | 14998585 |
|  Germany |  | 2245479 |  | 2245479 |
|  Hong Kong |  | 355695 |  | 355695 |
|  Italy |  | 3602421 |  | 3602421 |
|  Japan |  | 4788183 |  | 4788183 |
|  Singapore |  | 2083543 |  | 2083543 |
|  Spain |  | 3580885 |  | 3580885 |
|  Sweden |  | 1439432 |  | 1439432 |
|  Switzerland |  | 1687383 |  | 1687383 |
|  United Kingdom |  | 18712435 |  | 18712435 |
|  United States | 129245041 | 2139375 |  | 131384416 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 7283752 |  |  | 7283752 |
|  **Total Assets** | $**157500700** | $**69660509** | $**—** | $**227161209** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**157500700** | $**69660509** | $**—** | $**227161209** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $21845313 |
|  Aggregate gross unrealized depreciation | (9658849) |
|  Net unrealized appreciation | $12186464 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $214974745 |

---

See Notes to Portfolio of Investments.

582

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (3.3%)** |  |  |
|  ***Diversified Telecommunication Services (0.2%)*** |  |  |
|  AT&T, Inc. | 15752 | $444836 |
|  Verizon Communications, Inc. | 9288 | 408208 |
|  |  | 853044 |
|  ***Entertainment (0.5%)*** |  |  |
|  Electronic Arts, Inc. | 496 | 100043 |
|  Live Nation Entertainment, Inc.\* | 349 | 57027 |
|  Netflix, Inc.\* | 936 | 1122189 |
|  Take-Two Interactive Software, Inc.\* | 375 | 96885 |
|  TKO Group Holdings, Inc., Class A | 148 | 29890 |
|  Walt Disney Co. (The) | 3961 | 453534 |
|  Warner Bros Discovery, Inc.\* | 5417 | 105794 |
|  |  | 1965362 |
|  ***Interactive Media & Services (2.4%)*** |  |  |
|  Alphabet, Inc., Class A | 12841 | 3121647 |
|  Alphabet, Inc., Class C | 10303 | 2509296 |
|  Match Group, Inc. | 542 | 19143 |
|  Meta Platforms, Inc., Class A | 4787 | 3515477 |
|  |  | 9165563 |
|  ***Media (0.1%)*** |  |  |
|  Charter Communications, Inc., Class A\* | 205 | 56397 |
|  Comcast Corp., Class A | 8113 | 254910 |
|  Fox Corp., Class A | 473 | 29827 |
|  Fox Corp., Class B | 291 | 16672 |
|  Interpublic Group of Cos., Inc. (The) | 818 | 22830 |
|  News Corp., Class A | 835 | 25643 |
|  News Corp., Class B | 262 | 9052 |
|  Omnicom Group, Inc. | 432 | 35221 |
|  Paramount Skydance Corp., Class B(x) | 678 | 12828 |
|  Trade Desk, Inc. (The), Class A\* | 993 | 48667 |
|  |  | 512047 |
|  ***Wireless Telecommunication Services (0.1%)*** |  |  |
|  T-Mobile US, Inc. | 1063 | 254461 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 12750477 |
|  **Consumer Discretionary (3.5%)** |  |  |
|  ***Automobile Components (0.0%)†*** |  |  |
|  Aptiv plc\* | 482 | 41558 |
|  ***Automobiles (0.8%)*** |  |  |
|  Ford Motor Co. | 8642 | 103358 |
|  General Motors Co. | 2097 | 127854 |
|  Tesla, Inc.\* | 6191 | 2753262 |
|  |  | 2984474 |
|  ***Broadline Retail (1.3%)*** |  |  |
|  Amazon.com, Inc.\* | 21421 | 4703409 |
|  eBay, Inc. | 1007 | 91587 |
|  |  | 4794996 |
|  ***Distributors (0.0%)†*** |  |  |
|  Genuine Parts Co. | 307 | 42550 |
|  LKQ Corp. | 567 | 17316 |
|  Pool Corp. | 72 | 22325 |
|  |  | 82191 |
|  ***Hotels, Restaurants & Leisure (0.6%)*** |  |  |
|  Airbnb, Inc., Class A\* | 945 | 114742 |
|  Booking Holdings, Inc. | 71 | 383348 |
|  Carnival Corp.\* | 2323 | 67158 |
|  Chipotle Mexican Grill, Inc.\* | 2954 | 115767 |
|  Darden Restaurants, Inc. | 259 | 49303 |
|  Domino's Pizza, Inc. | 69 | 29788 |
|  DoorDash, Inc., Class A\* | 815 | 221672 |
|  Expedia Group, Inc. | 260 | 55575 |
|  Hilton Worldwide Holdings, Inc. | 518 | 134390 |
|  Las Vegas Sands Corp. | 680 | 36577 |
|  Marriott International, Inc., Class A | 496 | 129178 |
|  McDonald's Corp. | 1572 | 477715 |
|  MGM Resorts International\* | 450 | 15597 |
|  Norwegian Cruise Line Holdings Ltd.\* | 988 | 24335 |
|  Royal Caribbean Cruises Ltd. | 553 | 178940 |
|  Starbucks Corp. | 2515 | 212769 |
|  Wynn Resorts Ltd. | 186 | 23858 |
|  Yum! Brands, Inc. | 615 | 93480 |
|  |  | 2364192 |
|  ***Household Durables (0.1%)*** |  |  |
|  DR Horton, Inc. | 612 | 103716 |
|  Garmin Ltd. | 360 | 88639 |
|  Lennar Corp., Class A | 501 | 63146 |
|  Mohawk Industries, Inc.\* | 122 | 15728 |
|  NVR, Inc.\* | 6 | 48208 |
|  PulteGroup, Inc. | 435 | 57477 |
|  |  | 376914 |
|  ***Leisure Products (0.0%)†*** |  |  |
|  Hasbro, Inc. | 290 | 21996 |
|  ***Specialty Retail (0.6%)*** |  |  |
|  AutoZone, Inc.\* | 37 | 158739 |
|  Best Buy Co., Inc. | 426 | 32214 |
|  CarMax, Inc.\* | 331 | 14852 |
|  Home Depot, Inc. (The) | 2192 | 888176 |
|  Lowe's Cos., Inc. | 1238 | 311122 |
|  O'Reilly Automotive, Inc.\* | 1869 | 201497 |
|  Ross Stores, Inc. | 721 | 109873 |
|  TJX Cos., Inc. (The) | 2458 | 355279 |
|  Tractor Supply Co. | 1173 | 66709 |
|  Ulta Beauty, Inc.\* | 100 | 54675 |
|  Williams-Sonoma, Inc. | 272 | 53162 |
|  |  | 2246298 |
|  ***Textiles, Apparel & Luxury Goods (0.1%)*** |  |  |
|  Deckers Outdoor Corp.\* | 327 | 33148 |
|  Lululemon Athletica, Inc.\* | 244 | 43415 |
|  NIKE, Inc., Class B | 2607 | 181786 |
|  Ralph Lauren Corp. | 85 | 26653 |
|  Tapestry, Inc. | 459 | 51968 |
|  |  | 336970 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 13249589 |
|  **Consumer Staples (1.6%)** |  |  |
|  ***Beverages (0.3%)*** |  |  |
|  Brown-Forman Corp., Class B | 388 | 10507 |
|  Coca-Cola Co. (The) | 8533 | 565909 |
|  Constellation Brands, Inc., Class A | 315 | 42421 |
|  Keurig Dr Pepper, Inc. | 3006 | 76683 |
|  Molson Coors Beverage Co., Class B | 373 | 16878 |
|  Monster Beverage Corp.\* | 1553 | 104532 |
|  PepsiCo, Inc. | 3016 | 423567 |
|  |  | 1240497 |
|  ***Consumer Staples Distribution & Retail (0.6%)*** |  |  |
|  Costco Wholesale Corp. | 977 | 904341 |
|  Dollar General Corp. | 487 | 50331 |
|  Dollar Tree, Inc.\* | 437 | 41240 |
|  Kroger Co. (The) | 1355 | 91341 |
|  Sysco Corp. | 1052 | 86622 |
|  Target Corp. | 1005 | 90148 |
|  Walmart, Inc. | 9669 | 996487 |
|  |  | 2260510 |
|  ***Food Products (0.2%)*** |  |  |
|  Archer-Daniels-Midland Co. | 1063 | 63504 |
|  Bunge Global SA | 297 | 24131 |

---

See Notes to Portfolio of Investments.

583

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Campbell's Co. (The)(x) | 462 | $14590 |
|  Conagra Brands, Inc. | 1056 | 19335 |
|  General Mills, Inc. | 1178 | 59395 |
|  Hershey Co. (The) | 327 | 61165 |
|  Hormel Foods Corp. | 642 | 15883 |
|  J M Smucker Co. (The) | 236 | 25630 |
|  Kellanova | 595 | 48802 |
|  Kraft Heinz Co. (The) | 1912 | 49788 |
|  Lamb Weston Holdings, Inc. | 307 | 17831 |
|  McCormick & Co., Inc. (Non- Voting) | 559 | 37403 |
|  Mondelez International, Inc., Class A | 2866 | 179039 |
|  Tyson Foods, Inc., Class A | 634 | 34426 |
|  |  | 650922 |
|  ***Household Products (0.3%)*** |  |  |
|  Church & Dwight Co., Inc. | 545 | 47758 |
|  Clorox Co. (The) | 273 | 33661 |
|  Colgate-Palmolive Co. | 1780 | 142293 |
|  Kimberly-Clark Corp. | 735 | 91390 |
|  Procter & Gamble Co. (The) | 5160 | 792834 |
|  |  | 1107936 |
|  ***Personal Care Products (0.0%)†*** |  |  |
|  Estee Lauder Cos., Inc. (The), Class A | 519 | 45735 |
|  Kenvue, Inc. | 4249 | 68961 |
|  |  | 114696 |
|  ***Tobacco (0.2%)*** |  |  |
|  Altria Group, Inc. | 3701 | 244488 |
|  Philip Morris International, Inc. | 3429 | 556184 |
|  |  | 800672 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 6175233 |
|  **Energy (1.0%)** |  |  |
|  ***Energy Equipment & Services (0.1%)*** |  |  |
|  Baker Hughes Co. | 2193 | 106843 |
|  Halliburton Co. | 1903 | 46814 |
|  Schlumberger NV | 3311 | 113799 |
|  |  | 267456 |
|  ***Oil, Gas & Consumable Fuels (0.9%)*** |  |  |
|  APA Corp. | 788 | 19133 |
|  Chevron Corp. | 4248 | 659672 |
|  ConocoPhillips | 2751 | 260217 |
|  Coterra Energy, Inc. | 1690 | 39968 |
|  Devon Energy Corp. | 1421 | 49820 |
|  Diamondback Energy, Inc. | 414 | 59243 |
|  EOG Resources, Inc. | 1208 | 135441 |
|  EQT Corp. | 1325 | 72120 |
|  Expand Energy Corp. | 519 | 55139 |
|  Exxon Mobil Corp. | 9392 | 1058948 |
|  Kinder Morgan, Inc. | 4278 | 121110 |
|  Marathon Petroleum Corp. | 670 | 129136 |
|  Occidental Petroleum Corp. | 1568 | 74088 |
|  ONEOK, Inc. | 1382 | 100844 |
|  Phillips 66 | 890 | 121058 |
|  Targa Resources Corp. | 474 | 79414 |
|  Texas Pacific Land Corp. | 41 | 38279 |
|  Valero Energy Corp. | 684 | 116458 |
|  Williams Cos., Inc. (The) | 2703 | 171235 |
|  |  | 3361323 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 3628779 |
|  **Financials (4.5%)** |  |  |
|  ***Banks (1.2%)*** |  |  |
|  Bank of America Corp. | 15012 | 774469 |
|  Citigroup, Inc. | 4055 | 411583 |
|  Citizens Financial Group, Inc. | 959 | 50980 |
|  Fifth Third Bancorp | 1477 | 65800 |
|  Huntington Bancshares, Inc. | 3224 | 55678 |
|  JPMorgan Chase & Co. | 6071 | 1914976 |
|  KeyCorp | 2053 | 38371 |
|  M&T Bank Corp. | 344 | 67981 |
|  PNC Financial Services Group, Inc. (The) | 868 | 174407 |
|  Regions Financial Corp. | 1990 | 52476 |
|  Truist Financial Corp. | 2841 | 129891 |
|  US Bancorp | 3428 | 165675 |
|  Wells Fargo & Co. | 7057 | 591518 |
|  |  | 4493805 |
|  ***Capital Markets (1.2%)*** |  |  |
|  Ameriprise Financial, Inc. | 210 | 103163 |
|  Bank of New York Mellon Corp. (The) | 1554 | 169324 |
|  BlackRock, Inc. | 317 | 369581 |
|  Blackstone, Inc. | 1615 | 275923 |
|  Cboe Global Markets, Inc. | 232 | 56898 |
|  Charles Schwab Corp. (The) | 3759 | 358872 |
|  CME Group, Inc. | 797 | 215341 |
|  Coinbase Global, Inc., Class A\* | 498 | 168070 |
|  FactSet Research Systems, Inc. | 84 | 24065 |
|  Franklin Resources, Inc. | 675 | 15613 |
|  Goldman Sachs Group, Inc. (The) | 667 | 531165 |
|  Interactive Brokers Group, Inc., Class A | 968 | 66608 |
|  Intercontinental Exchange, Inc. | 1261 | 212453 |
|  KKR & Co., Inc. | 1497 | 194535 |
|  Moody's Corp. | 342 | 162956 |
|  Morgan Stanley | 2673 | 424900 |
|  MSCI, Inc. | 170 | 96460 |
|  Nasdaq, Inc. | 999 | 88362 |
|  Northern Trust Corp. | 421 | 56667 |
|  Raymond James Financial, Inc. | 391 | 67487 |
|  Robinhood Markets, Inc., Class A\* | 1705 | 244122 |
|  S&P Global, Inc. | 688 | 334856 |
|  State Street Corp. | 631 | 73202 |
| T. Rowe Price Group, Inc. | 488 | 50088 |
|  |  | 4360711 |
|  ***Consumer Finance (0.2%)*** |  |  |
|  American Express Co. | 1196 | 397264 |
|  Capital One Financial Corp. | 1409 | 299525 |
|  Synchrony Financial | 820 | 58261 |
|  |  | 755050 |
|  ***Financial Services (1.3%)*** |  |  |
|  Apollo Global Management, Inc. | 999 | 133137 |
|  Berkshire Hathaway, Inc., Class B\* | 4048 | 2035092 |
|  Block, Inc., Class A\* | 1211 | 87519 |
|  Corpay, Inc.\* | 156 | 44937 |
|  Fidelity National Information Services, Inc. | 1163 | 76688 |
|  Fiserv, Inc.\* | 1198 | 154458 |
|  Global Payments, Inc. | 539 | 44780 |
|  Jack Henry & Associates, Inc. | 161 | 23978 |
|  Mastercard, Inc., Class A | 1819 | 1034665 |
|  PayPal Holdings, Inc.\* | 2105 | 141161 |
|  Visa, Inc., Class A | 3742 | 1277444 |
|  |  | 5053859 |
|  ***Insurance (0.6%)*** |  |  |
|  Aflac, Inc. | 1060 | 118402 |
|  Allstate Corp. (The) | 580 | 124497 |
|  American International Group, Inc. | 1220 | 95819 |
|  Aon plc, Class A | 475 | 169376 |
|  Arch Capital Group Ltd. | 826 | 74943 |
|  Arthur J Gallagher & Co. | 567 | 175623 |
|  Assurant, Inc. | 112 | 24259 |
|  Brown & Brown, Inc. | 635 | 59557 |

---

See Notes to Portfolio of Investments.

584

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Chubb Ltd. | 817 | $230598 |
|  Cincinnati Financial Corp. | 346 | 54703 |
|  Erie Indemnity Co., Class A | 59 | 18771 |
|  Everest Group Ltd. | 94 | 32922 |
|  Globe Life, Inc. | 183 | 26164 |
|  Hartford Insurance Group, Inc. (The) | 619 | 82568 |
|  Loews Corp. | 385 | 38650 |
|  Marsh & McLennan Cos., Inc. | 1083 | 218257 |
|  MetLife, Inc. | 1231 | 101397 |
|  Principal Financial Group, Inc. | 456 | 37807 |
|  Progressive Corp. (The) | 1291 | 318812 |
|  Prudential Financial, Inc. | 784 | 81332 |
|  Travelers Cos., Inc. (The) | 496 | 138493 |
|  W.R. Berkley Corp. | 663 | 50799 |
|  Willis Towers Watson plc | 215 | 74272 |
|  |  | 2348021 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 17011446 |
|  **Health Care (2.9%)** |  |  |
|  ***Biotechnology (0.5%)*** |  |  |
|  AbbVie, Inc. | 3892 | 901154 |
|  Amgen, Inc. | 1186 | 334689 |
|  Biogen, Inc.\* | 324 | 45386 |
|  Gilead Sciences, Inc. | 2733 | 303363 |
|  Incyte Corp.\* | 356 | 30192 |
|  Moderna, Inc.\* | 798 | 20612 |
|  Regeneron Pharmaceuticals, Inc. | 224 | 125949 |
|  Vertex Pharmaceuticals, Inc.\* | 565 | 221277 |
|  |  | 1982622 |
|  ***Health Care Equipment & Supplies (0.7%)*** |  |  |
|  Abbott Laboratories | 3834 | 513526 |
|  Align Technology, Inc.\* | 149 | 18658 |
|  Baxter International, Inc. | 1135 | 25844 |
|  Becton Dickinson & Co. | 634 | 118666 |
|  Boston Scientific Corp.\* | 3274 | 319641 |
|  Cooper Cos., Inc. (The)\* | 442 | 30303 |
|  Dexcom, Inc.\* | 868 | 58408 |
|  Edwards Lifesciences Corp.\* | 1298 | 100945 |
|  GE HealthCare Technologies, Inc. | 1013 | 76076 |
|  Hologic, Inc.\* | 493 | 33273 |
|  IDEXX Laboratories, Inc.\* | 176 | 112445 |
|  Insulet Corp.\* | 156 | 48162 |
|  Intuitive Surgical, Inc.\* | 790 | 353312 |
|  Medtronic plc | 2823 | 268862 |
|  ResMed, Inc. | 324 | 88688 |
|  Solventum Corp.\* | 305 | 22265 |
|  STERIS plc | 218 | 53942 |
|  Stryker Corp. | 758 | 280210 |
|  Zimmer Biomet Holdings, Inc. | 438 | 43143 |
|  |  | 2566369 |
|  ***Health Care Providers & Services (0.5%)*** |  |  |
|  Cardinal Health, Inc. | 528 | 82875 |
|  Cencora, Inc. | 427 | 133450 |
|  Centene Corp.\* | 1028 | 36679 |
|  Cigna Group (The) | 591 | 170356 |
|  CVS Health Corp. | 2800 | 211092 |
|  DaVita, Inc.\* | 79 | 10497 |
|  Elevance Health, Inc. | 496 | 160268 |
|  HCA Healthcare, Inc. | 361 | 153858 |
|  Henry Schein, Inc.\* | 227 | 15066 |
|  Humana, Inc. | 267 | 69465 |
|  Labcorp Holdings, Inc. | 185 | 53106 |
|  McKesson Corp. | 274 | 211676 |
|  Molina Healthcare, Inc.\* | 120 | 22963 |
|  Quest Diagnostics, Inc. | 247 | 47073 |
|  UnitedHealth Group, Inc. | 1995 | 688874 |
|  Universal Health Services, Inc., Class B | 126 | 25759 |
|  |  | 2093057 |
|  ***Life Sciences Tools & Services (0.3%)*** |  |  |
|  Agilent Technologies, Inc. | 631 | 80989 |
|  Bio-Techne Corp. | 345 | 19192 |
|  Charles River Laboratories International, Inc.\* | 108 | 16898 |
|  Danaher Corp. | 1409 | 279348 |
|  IQVIA Holdings, Inc.\* | 364 | 69138 |
|  Mettler-Toledo International, Inc.\* | 45 | 55242 |
|  Revvity, Inc. | 261 | 22877 |
|  Thermo Fisher Scientific, Inc. | 832 | 403537 |
|  Waters Corp.\* | 132 | 39575 |
|  West Pharmaceutical Services, Inc. | 159 | 41710 |
|  |  | 1028506 |
|  ***Pharmaceuticals (0.9%)*** |  |  |
|  Bristol-Myers Squibb Co. | 4504 | 203131 |
|  Eli Lilly & Co. | 1751 | 1336013 |
|  Johnson & Johnson | 5305 | 983653 |
|  Merck & Co., Inc. | 5502 | 461783 |
|  Pfizer, Inc. | 12525 | 319137 |
|  Viatris, Inc. | 2598 | 25720 |
|  Zoetis, Inc. | 976 | 142808 |
|  |  | 3472245 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 11142799 |
|  **Industrials (2.7%)** |  |  |
|  ***Aerospace & Defense (0.7%)*** |  |  |
|  Axon Enterprise, Inc.\* | 173 | 124152 |
|  Boeing Co. (The)\* | 1669 | 360220 |
|  GE Aerospace | 2336 | 702716 |
|  General Dynamics Corp. | 557 | 189937 |
|  Howmet Aerospace, Inc. | 893 | 175233 |
|  Huntington Ingalls Industries, Inc. | 86 | 24760 |
|  L3Harris Technologies, Inc. | 414 | 126440 |
|  Lockheed Martin Corp. | 453 | 226142 |
|  Northrop Grumman Corp. | 296 | 180359 |
|  RTX Corp. | 2949 | 493456 |
|  Textron, Inc. | 400 | 33796 |
|  TransDigm Group, Inc. | 124 | 163434 |
|  |  | 2800645 |
|  ***Air Freight & Logistics (0.1%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 263 | 34821 |
|  Expeditors International of Washington, Inc. | 303 | 37145 |
|  FedEx Corp. | 478 | 112717 |
|  United Parcel Service, Inc., Class B | 1624 | 135653 |
|  |  | 320336 |
|  ***Building Products (0.2%)*** |  |  |
|  A.O. Smith Corp. | 252 | 18499 |
|  Allegion plc | 190 | 33697 |
|  Builders FirstSource, Inc.\* | 244 | 29585 |
|  Carrier Global Corp. | 1765 | 105370 |
|  Johnson Controls International plc | 1442 | 158548 |
|  Lennox International, Inc. | 71 | 37585 |
|  Masco Corp. | 467 | 32872 |
|  Trane Technologies plc | 490 | 206760 |
|  |  | 622916 |
|  ***Commercial Services & Supplies (0.2%)*** |  |  |
|  Cintas Corp. | 759 | 155792 |
|  Copart, Inc.\* | 1946 | 87512 |
|  Republic Services, Inc. | 450 | 103266 |
|  Rollins, Inc. | 622 | 36536 |
|  Veralto Corp. | 549 | 58529 |
|  Waste Management, Inc. | 810 | 178872 |
|  |  | 620507 |

---

See Notes to Portfolio of Investments.

585

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***Construction & Engineering (0.0%)†*** |  |  |
|  EMCOR Group, Inc. | 99 | $64304 |
|  Quanta Services, Inc. | 328 | 135930 |
|  |  | 200234 |
|  ***Electrical Equipment (0.3%)*** |  |  |
|  AMETEK, Inc. | 511 | 96068 |
|  Eaton Corp. plc | 858 | 321107 |
|  Emerson Electric Co. | 1245 | 163319 |
|  GE Vernova, Inc. | 600 | 368940 |
|  Generac Holdings, Inc.\* | 131 | 21929 |
|  Hubbell, Inc., Class B | 118 | 50777 |
|  Rockwell Automation, Inc. | 249 | 87033 |
|  |  | 1109173 |
|  ***Ground Transportation (0.3%)*** |  |  |
|  CSX Corp. | 4107 | 145840 |
|  JB Hunt Transport Services, Inc. | 173 | 23211 |
|  Norfolk Southern Corp. | 494 | 148403 |
|  Old Dominion Freight Line, Inc. | 411 | 57861 |
|  Uber Technologies, Inc.\* | 4594 | 450074 |
|  Union Pacific Corp. | 1306 | 308699 |
|  |  | 1134088 |
|  ***Industrial Conglomerates (0.1%)*** |  |  |
|  3M Co. | 1173 | 182026 |
|  Honeywell International, Inc. | 1399 | 294490 |
|  |  | 476516 |
|  ***Machinery (0.5%)*** |  |  |
|  Caterpillar, Inc. | 1032 | 492419 |
|  Cummins, Inc. | 305 | 128823 |
|  Deere & Co. | 555 | 253779 |
|  Dover Corp. | 304 | 50716 |
|  Fortive Corp. | 752 | 36840 |
|  IDEX Corp. | 167 | 27181 |
|  Illinois Tool Works, Inc. | 584 | 152284 |
|  Ingersoll Rand, Inc. | 797 | 65848 |
|  Nordson Corp. | 120 | 27234 |
|  Otis Worldwide Corp. | 873 | 79818 |
|  PACCAR, Inc. | 1162 | 114248 |
|  Parker-Hannifin Corp. | 281 | 213040 |
|  Pentair plc | 364 | 40317 |
|  Snap-on, Inc. | 116 | 40198 |
|  Stanley Black & Decker, Inc. | 342 | 25421 |
|  Westinghouse Air Brake Technologies Corp. | 378 | 75778 |
|  Xylem, Inc. | 538 | 79355 |
|  |  | 1903299 |
|  ***Passenger Airlines (0.0%)†*** |  |  |
|  Delta Air Lines, Inc. | 1445 | 82004 |
|  Southwest Airlines Co. | 1157 | 36920 |
|  United Airlines Holdings, Inc.\* | 722 | 69673 |
|  |  | 188597 |
|  ***Professional Services (0.2%)*** |  |  |
|  Automatic Data Processing, Inc. | 892 | 261802 |
|  Broadridge Financial Solutions, Inc. | 260 | 61924 |
|  Dayforce, Inc.\* | 354 | 24387 |
|  Equifax, Inc. | 274 | 70289 |
|  Jacobs Solutions, Inc. | 266 | 39863 |
|  Leidos Holdings, Inc. | 285 | 53854 |
|  Paychex, Inc. | 709 | 89873 |
|  Paycom Software, Inc. | 107 | 22271 |
|  Verisk Analytics, Inc. | 309 | 77716 |
|  |  | 701979 |
|  ***Trading Companies & Distributors (0.1%)*** |  |  |
|  Fastenal Co. | 2539 | 124512 |
|  United Rentals, Inc. | 142 | 135562 |
|  W.W. Grainger, Inc. | 97 | 92437 |
|  |  | 352511 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 10430801 |
|  **Information Technology (11.5%)** |  |  |
|  ***Communications Equipment (0.3%)*** |  |  |
|  Arista Networks, Inc.\* | 2270 | 330762 |
|  Cisco Systems, Inc. | 8724 | 596896 |
|  F5, Inc.\* | 127 | 41045 |
|  Motorola Solutions, Inc. | 367 | 167825 |
|  |  | 1136528 |
|  ***Electronic Equipment, Instruments & Components (0.2%)*** |  |  |
|  Amphenol Corp., Class A | 2677 | 331279 |
|  CDW Corp. | 291 | 46351 |
|  Corning, Inc. | 1707 | 140025 |
|  Jabil, Inc. | 238 | 51687 |
|  Keysight Technologies, Inc.\* | 382 | 66819 |
|  TE Connectivity plc | 651 | 142914 |
|  Teledyne Technologies, Inc.\* | 104 | 60948 |
|  Trimble, Inc.\* | 528 | 43111 |
|  Zebra Technologies Corp., Class A\* | 112 | 33282 |
|  |  | 916416 |
|  ***IT Services (0.3%)*** |  |  |
|  Accenture plc, Class A | 1372 | 338335 |
|  Akamai Technologies, Inc.\* | 323 | 24471 |
|  Cognizant Technology Solutions Corp., Class A | 1076 | 72167 |
|  EPAM Systems, Inc.\* | 125 | 18849 |
|  Gartner, Inc.\* | 167 | 43899 |
|  GoDaddy, Inc., Class A\* | 305 | 41733 |
|  International Business Machines Corp. | 2052 | 578992 |
|  VeriSign, Inc. | 178 | 49764 |
|  |  | 1168210 |
|  ***Semiconductors & Semiconductor Equipment (4.6%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 3575 | 578399 |
|  Analog Devices, Inc. | 1093 | 268550 |
|  Applied Materials, Inc. | 1768 | 361980 |
|  Broadcom, Inc. | 10381 | 3424796 |
|  First Solar, Inc.\* | 238 | 52486 |
|  Intel Corp.\* | 9651 | 323791 |
|  KLA Corp. | 291 | 313873 |
|  Lam Research Corp. | 2788 | 373313 |
|  Microchip Technology, Inc. | 1190 | 76422 |
|  Micron Technology, Inc. | 2465 | 412444 |
|  Monolithic Power Systems, Inc. | 106 | 97588 |
|  NVIDIA Corp. | 53864 | 10049945 |
|  NXP Semiconductors NV | 559 | 127301 |
|  ON Semiconductor Corp.\* | 901 | 44428 |
|  QUALCOMM, Inc. | 2376 | 395271 |
|  Skyworks Solutions, Inc. | 332 | 25558 |
|  Teradyne, Inc. | 355 | 48862 |
|  Texas Instruments, Inc. | 2003 | 368011 |
|  |  | 17343018 |
|  ***Software (3.8%)*** |  |  |
|  Adobe, Inc.\* | 934 | 329469 |
|  AppLovin Corp., Class A\* | 596 | 428250 |
|  Autodesk, Inc.\* | 473 | 150258 |
|  Cadence Design Systems, Inc.\* | 600 | 210756 |
|  Crowdstrike Holdings, Inc., Class A\* | 549 | 269219 |
|  Datadog, Inc., Class A\* | 705 | 100392 |
|  Fair Isaac Corp.\* | 53 | 79316 |
|  Fortinet, Inc.\* | 1406 | 118216 |
|  Gen Digital, Inc. | 1208 | 34295 |
|  Intuit, Inc. | 615 | 419990 |
|  Microsoft Corp. | 16409 | 8499042 |
|  Oracle Corp. | 3651 | 1026807 |

---

See Notes to Portfolio of Investments.

586

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Palantir Technologies, Inc., Class A\* | 5010 | $913924 |
|  Palo Alto Networks, Inc.\* | 1464 | 298100 |
|  PTC, Inc.\* | 265 | 53800 |
|  Roper Technologies, Inc. | 238 | 118688 |
|  Salesforce, Inc. | 2106 | 499122 |
|  ServiceNow, Inc.\* | 458 | 421488 |
|  Synopsys, Inc.\* | 408 | 201303 |
|  Tyler Technologies, Inc.\* | 95 | 49700 |
|  Workday, Inc., Class A\* | 479 | 115310 |
|  |  | 14337445 |
|  ***Technology Hardware, Storage & Peripherals (2.3%)*** |  |  |
|  Apple, Inc. | 32758 | 8341170 |
|  Dell Technologies, Inc., Class C | 663 | 93993 |
|  Hewlett Packard Enterprise Co. | 2907 | 71396 |
|  HP, Inc. | 2087 | 56829 |
|  NetApp, Inc. | 441 | 52241 |
|  Seagate Technology Holdings plc | 470 | 110948 |
|  Super Micro Computer, Inc.(x)\* | 1104 | 52926 |
|  Western Digital Corp. | 772 | 92686 |
|  |  | 8872189 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 43773806 |
|  **Materials (0.6%)** |  |  |
|  ***Chemicals (0.4%)*** |  |  |
|  Air Products and Chemicals, Inc. | 492 | 134178 |
|  Albemarle Corp. | 260 | 21081 |
|  CF Industries Holdings, Inc. | 358 | 32113 |
|  Corteva, Inc. | 1510 | 102121 |
|  Dow, Inc. | 1563 | 35839 |
|  DuPont de Nemours, Inc. | 926 | 72135 |
|  Eastman Chemical Co. | 253 | 15952 |
|  Ecolab, Inc. | 558 | 152814 |
|  International Flavors & Fragrances, Inc. | 566 | 34832 |
|  Linde plc | 1033 | 490675 |
|  LyondellBasell Industries NV, Class A | 569 | 27904 |
|  Mosaic Co. (The) | 702 | 24345 |
|  PPG Industries, Inc. | 503 | 52870 |
|  Sherwin-Williams Co. (The) | 510 | 176593 |
|  |  | 1373452 |
|  ***Construction Materials (0.0%)†*** |  |  |
|  Martin Marietta Materials, Inc. | 133 | 83827 |
|  Vulcan Materials Co. | 292 | 89825 |
|  |  | 173652 |
|  ***Containers & Packaging (0.1%)*** |  |  |
|  Amcor plc | 5070 | 41473 |
|  Avery Dennison Corp. | 173 | 28055 |
|  Ball Corp. | 614 | 30958 |
|  International Paper Co. | 1168 | 54195 |
|  Packaging Corp. of America | 198 | 43150 |
|  Smurfit WestRock plc | 1098 | 46742 |
|  |  | 244573 |
|  ***Metals & Mining (0.1%)*** |  |  |
|  Freeport-McMoRan, Inc. | 3179 | 124681 |
|  Newmont Corp. | 2420 | 204030 |
|  Nucor Corp. | 510 | 69069 |
|  Steel Dynamics, Inc. | 306 | 42666 |
|  |  | 440446 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 2232123 |
|  **Real Estate (0.6%)** |  |  |
|  ***Health Care REITs (0.1%)*** |  |  |
|  Alexandria Real Estate Equities, |  |  |
|  Inc. (REIT) | 340 | 28336 |
|  Healthpeak Properties, Inc. (REIT) | 1537 | 29433 |
|  Ventas, Inc. (REIT) | 999 | 69920 |
|  Welltower, Inc. (REIT) | 1473 | 262400 |
|  |  | 390089 |
|  ***Hotel & Resort REITs (0.0%)†*** |  |  |
|  Host Hotels & Resorts, Inc. (REIT) | 1409 | 23981 |
|  ***Industrial REITs (0.1%)*** |  |  |
|  Prologis, Inc. (REIT) | 2044 | 234079 |
|  ***Office REITs (0.0%)†*** |  |  |
|  BXP, Inc. (REIT) | 322 | 23937 |
|  ***Real Estate Management & Development (0.0%)†*** |  |  |
|  CBRE Group, Inc., Class A\* | 650 | 102414 |
|  CoStar Group, Inc.\* | 934 | 78802 |
|  |  | 181216 |
|  ***Residential REITs (0.1%)*** |  |  |
|  AvalonBay Communities, Inc. (REIT) | 315 | 60849 |
|  Camden Property Trust (REIT) | 237 | 25307 |
|  Equity Residential (REIT) | 756 | 48936 |
|  Essex Property Trust, Inc. (REIT) | 142 | 38008 |
|  Invitation Homes, Inc. (REIT) | 1261 | 36985 |
|  Mid-America Apartment Communities, Inc. (REIT) | 259 | 36190 |
|  UDR, Inc. (REIT) | 667 | 24852 |
|  |  | 271127 |
|  ***Retail REITs (0.1%)*** |  |  |
|  Federal Realty Investment Trust (REIT) | 182 | 18438 |
|  Kimco Realty Corp. (REIT) | 1496 | 32688 |
|  Realty Income Corp. (REIT) | 1999 | 121519 |
|  Regency Centers Corp. (REIT) | 361 | 26317 |
|  Simon Property Group, Inc. (REIT) | 719 | 134935 |
|  |  | 333897 |
|  ***Specialized REITs (0.2%)*** |  |  |
|  American Tower Corp. (REIT) | 1035 | 199051 |
|  Crown Castle, Inc. (REIT) | 964 | 93016 |
|  Digital Realty Trust, Inc. (REIT) | 701 | 121189 |
|  Equinix, Inc. (REIT) | 217 | 169963 |
|  Extra Space Storage, Inc. (REIT) | 470 | 66242 |
|  Iron Mountain, Inc. (REIT) | 653 | 66567 |
|  Public Storage (REIT) | 349 | 100809 |
|  SBA Communications Corp. (REIT) | 238 | 46017 |
|  VICI Properties, Inc. (REIT), Class A | 2339 | 76275 |
|  Weyerhaeuser Co. (REIT) | 1606 | 39813 |
|  |  | 978942 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 2437268 |
|  **Utilities (0.8%)** |  |  |
|  ***Electric Utilities (0.5%)*** |  |  |
|  Alliant Energy Corp. | 569 | 38356 |
|  American Electric Power Co., Inc. | 1182 | 132975 |
|  Constellation Energy Corp. | 688 | 226400 |
|  Duke Energy Corp. | 1721 | 212974 |
|  Edison International | 852 | 47099 |
|  Entergy Corp. | 987 | 91979 |
|  Evergy, Inc. | 509 | 38694 |
|  Eversource Energy | 813 | 57837 |
|  Exelon Corp. | 2235 | 100597 |
|  FirstEnergy Corp. | 1136 | 52052 |
|  NextEra Energy, Inc. | 4537 | 342498 |
|  NRG Energy, Inc. | 426 | 68991 |
|  PG&E Corp. | 4863 | 73334 |
|  Pinnacle West Capital Corp. | 264 | 23670 |
|  PPL Corp. | 1636 | 60794 |
|  Southern Co. (The) | 2433 | 230575 |

---

See Notes to Portfolio of Investments.

587

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Xcel Energy, Inc. | 1276 | $102909 |
|  |  | 1901734 |
|  ***Gas Utilities (0.0%)†*** |  |  |
|  Atmos Energy Corp. | 352 | 60104 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  AES Corp. (The) | 1576 | 20740 |
|  Vistra Corp. | 702 | 137536 |
|  |  | 158276 |
|  ***Multi-Utilities (0.2%)*** |  |  |
|  Ameren Corp. | 598 | 62419 |
|  CenterPoint Energy, Inc. | 1444 | 56027 |
|  CMS Energy Corp. | 662 | 48498 |
|  Consolidated Edison, Inc. | 797 | 80115 |
|  Dominion Energy, Inc. | 1888 | 115489 |
|  DTE Energy Co. | 459 | 64916 |
|  NiSource, Inc. | 1041 | 45075 |
|  Public Service Enterprise Group, Inc. | 1104 | 92140 |
|  Sempra | 1443 | 129841 |
|  WEC Energy Group, Inc. | 706 | 80901 |
|  |  | 775421 |
|  ***Water Utilities (0.0%)†*** |  |  |
|  American Water Works Co., Inc. | 432 | 60130 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 2955665 |
|  **Total Common Stocks (33.0%)**<br> *(Cost $41,900,321)* |  | 125787986 |
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **U.S. Treasury Obligations (49.4%)** |  |  |
|  U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/15/26 | $1224300 | 1234535 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/26 | 3911300 | 3947589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/26 | 5942400 | 5968706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/15/26 | 4693800 | 4739910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 11/30/26 | 3468700 | 3371796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/15/26 | 726400 | 732163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 12/31/26 | 3800000 | 3687338 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/15/27 | 4341500 | 4395436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 4/30/27 | 2172900 | 2143105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/15/27 | 3262700 | 3305685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 6/15/27 | 3317600 | 3370710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 7/15/27 | 3431900 | 3475612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/31/27 | 5763500 | 5764186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/30/27 | 1922900 | 1933419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/15/27 | 3849500 | 3882077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/15/28 | 1643200 | 1665960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/15/28 | 5627300 | 5708204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/29/28 | 1200000 | 1210822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 3/31/28 | 5741500 | 5744241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/15/28 | 3485100 | 3508699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/15/28 | 3717300 | 3742275 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 7/31/28 | 3496200 | 3543165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/15/28 | 167200 | 167245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/31/28 | 4132200 | 4217330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/28 | 3979000 | 4121680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/28 | 4011500 | 4099244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/30/29 | 4570700 | 4716763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/31/29 | 3879600 | 3989086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 6/30/29 | 3788800 | 3864968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/31/29 | 447800 | 452885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/31/29 | 5334700 | 5322551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/29 | 1899100 | 1929780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/31/29 | 4146100 | 4255095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/31/30 | 3081300 | 3147824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/31/30 | 3648500 | 3692187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/30/30 | 3682400 | 3705751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/31/30 | 4156500 | 4182829 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/31/30 | 5611400 | 5584314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/30 | 177300 | 186428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/28/31 | 3717700 | 3802540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/30/31 | 2619600 | 2727463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 5/31/31 | 2471500 | 2573452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 6/30/31 | 3676400 | 3757691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 7/31/31 | 2181500 | 2215386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/31/31 | 399200 | 397495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 5/31/32 | 4178300 | 4232220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/30/32 | 5535000 | 5564835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/31/32 | 5555200 | 5583025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/31/32 | 265600 | 264877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 5/15/33 | 2499400 | 2401019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/33 | 4493400 | 4457269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/15/34 | 1878700 | 1873666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/15/34 | 1975000 | 2020691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/34 | 4412500 | 4345395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/15/35 | 2662400 | 2766971 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/35 | 4142600 | 4180708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 8/15/35 | 131300 | 132367 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 188008663 |
|  **Total Long-Term Debt Securities (49.4%)**<br> *(Cost $186,853,345)* |  | 188008663 |
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Health Care Equipment & Supplies (0.0%)†*** |  |  |
|  ABIOMED, Inc., CVR\*<br>*(Cost $127)* | 124 | 198 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (14.1%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 15229 | 15229 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 53826494 | 53848025 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 53863254 |
|  **Total Short-Term Investments (14.1%)**<br> *(Cost $53,852,211)* |  | 53863254 |
|  **Total Investments in Securities (96.5%)**<br> *(Cost $282,606,004)* |  | 367660101 |
|  **Other Assets Less Liabilities (3.5%)** |  | 13339736 |
|  **Net Assets (100%)** |  | $380999837 |

---

*\** *Non-income producing.* 

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

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $71,340. This was collateralized by $56,079 of various U.S. Government Treasury Securities, ranging from 0.000% – 4.875%, maturing 10/23/25 – 2/15/53 and by cash of $15,229 which was subsequently invested in investment companies.* 

See Notes to Portfolio of Investments.

588

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*Glossary:* 

*CVR — Contingent Value Right* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation**<br>**(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  MSCI EAFE E-Mini Index | 337 | 12/2025 | USD | 46932305 | 122392 |
|  Russell 2000 E-Mini Index | 53 | 12/2025 | USD | 6507075 | 96498 |
|  S&P 500 E-Mini Index | 12 | 12/2025 | USD | 4043250 | 35376 |
|  S&P Midcap 400 E-Mini Index | 22 | 12/2025 | USD | 7229640 | (133700) |
|  |  |  |  |  | 120566 |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active**<br>**Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,**<br>**prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in**<br>**determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $12750477 | $— | $— | $12750477 |
|  Consumer Discretionary | 13249589 |  |  | 13249589 |
|  Consumer Staples | 6175233 |  |  | 6175233 |
|  Energy | 3628779 |  |  | 3628779 |
|  Financials | 17011446 |  |  | 17011446 |
|  Health Care | 11142799 |  |  | 11142799 |
|  Industrials | 10430801 |  |  | 10430801 |
|  Information Technology | 43773806 |  |  | 43773806 |
|  Materials | 2232123 |  |  | 2232123 |
|  Real Estate | 2437268 |  |  | 2437268 |
|  Utilities | 2955665 |  |  | 2955665 |
|  Futures | 254266 |  |  | 254266 |
|  **Rights** |  |  |  |  |
|  Health Care |  | 198 |  | 198 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 53863254 |  |  | 53863254 |
|  **U.S. Treasury Obligations** |  | 188008663 |  | 188008663 |
|  **Total Assets** | $**179905506** | $**188008861** | $**—** | $**367914367** |
|  **Liabilities:** |  |  |  |  |
|  **Futures** | $(133700) | $— | $— | $(133700) |
|  **Total Liabilities** | $**(133700)** | $**—** | $**—** | $**(133700)** |
|  **Total** | $**179771806** | $**188008861** | $**—** | $**367780667** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $89872663 |
|  Aggregate gross unrealized depreciation | (2663904) |
|  Net unrealized appreciation | $87208759 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $280571908 |

---

See Notes to Portfolio of Investments.

589

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (3.9%)** |  |  |
|  ***Diversified Telecommunication Services (0.3%)*** |  |  |
|  AT&T, Inc. | 19981 | $564263 |
|  Verizon Communications, Inc. | 11782 | 517819 |
|  |  | 1082082 |
|  ***Entertainment (0.6%)*** |  |  |
|  Electronic Arts, Inc. | 629 | 126869 |
|  Live Nation Entertainment, Inc.\* | 441 | 72059 |
|  Netflix, Inc.\* | 1190 | 1426715 |
|  Take-Two Interactive Software, Inc.\* | 485 | 125305 |
|  TKO Group Holdings, Inc., Class A | 193 | 38978 |
|  Walt Disney Co. (The) | 5024 | 575248 |
|  Warner Bros Discovery, Inc.\* | 6918 | 135109 |
|  |  | 2500283 |
|  ***Interactive Media & Services (2.8%)*** |  |  |
|  Alphabet, Inc., Class A | 16273 | 3955966 |
|  Alphabet, Inc., Class C | 13067 | 3182468 |
|  Match Group, Inc. | 672 | 23735 |
|  Meta Platforms, Inc., Class A | 6067 | 4455484 |
|  |  | 11617653 |
|  ***Media (0.1%)*** |  |  |
|  Charter Communications, Inc., Class A\* | 260 | 71527 |
|  Comcast Corp., Class A | 10291 | 323343 |
|  Fox Corp., Class A | 587 | 37016 |
|  Fox Corp., Class B | 369 | 21140 |
|  Interpublic Group of Cos., Inc. (The) | 1023 | 28552 |
|  News Corp., Class A | 1052 | 32307 |
|  News Corp., Class B | 320 | 11056 |
|  Omnicom Group, Inc. | 544 | 44352 |
|  Paramount Skydance Corp., Class B(x) | 863 | 16328 |
|  Trade Desk, Inc. (The), Class A\* | 1245 | 61018 |
|  |  | 646639 |
|  ***Wireless Telecommunication Services (0.1%)*** |  |  |
|  T-Mobile US, Inc. | 1352 | 323642 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 16170299 |
|  **Consumer Discretionary (4.1%)** |  |  |
|  ***Automobile Components (0.0%)†*** |  |  |
|  Aptiv plc\* | 611 | 52681 |
|  ***Automobiles (0.9%)*** |  |  |
|  Ford Motor Co. | 10923 | 130639 |
|  General Motors Co. | 2660 | 162180 |
|  Tesla, Inc.\* | 7851 | 3491497 |
|  |  | 3784316 |
|  ***Broadline Retail (1.5%)*** |  |  |
|  Amazon.com, Inc.\* | 27140 | 5959130 |
|  eBay, Inc. | 1277 | 116143 |
|  |  | 6075273 |
|  ***Distributors (0.0%)†*** |  |  |
|  Genuine Parts Co. | 390 | 54054 |
|  LKQ Corp. | 719 | 21958 |
|  Pool Corp. | 92 | 28527 |
|  |  | 104539 |
|  ***Hotels, Restaurants & Leisure (0.8%)*** |  |  |
|  Airbnb, Inc., Class A\* | 1199 | 145583 |
|  Booking Holdings, Inc. | 91 | 491333 |
|  Carnival Corp.\* | 3034 | 87713 |
|  Chipotle Mexican Grill, Inc.\* | 3747 | 146845 |
|  Darden Restaurants, Inc. | 327 | 62248 |
|  Domino's Pizza, Inc. | 87 | 37559 |
|  DoorDash, Inc., Class A\* | 1034 | 281238 |
|  Expedia Group, Inc. | 330 | 70537 |
|  Hilton Worldwide Holdings, Inc. | 657 | 170452 |
|  Las Vegas Sands Corp. | 863 | 46421 |
|  Marriott International, Inc., Class A | 630 | 164077 |
|  McDonald's Corp. | 1994 | 605957 |
|  MGM Resorts International\* | 570 | 19756 |
|  Norwegian Cruise Line Holdings Ltd.\* | 1263 | 31108 |
|  Royal Caribbean Cruises Ltd. | 706 | 228447 |
|  Starbucks Corp. | 3179 | 268943 |
|  Wynn Resorts Ltd. | 236 | 30272 |
|  Yum! Brands, Inc. | 776 | 117952 |
|  |  | 3006441 |
|  ***Household Durables (0.1%)*** |  |  |
|  DR Horton, Inc. | 775 | 131339 |
|  Garmin Ltd. | 457 | 112523 |
|  Lennar Corp., Class A | 636 | 80161 |
|  Mohawk Industries, Inc.\* | 148 | 19080 |
|  NVR, Inc.\* | 8 | 64277 |
|  PulteGroup, Inc. | 551 | 72804 |
|  |  | 480184 |
|  ***Leisure Products (0.0%)†*** |  |  |
|  Hasbro, Inc. | 372 | 28216 |
|  ***Specialty Retail (0.7%)*** |  |  |
|  AutoZone, Inc.\* | 47 | 201641 |
|  Best Buy Co., Inc. | 549 | 41515 |
|  CarMax, Inc.\* | 419 | 18801 |
|  Home Depot, Inc. (The) | 2780 | 1126428 |
|  Lowe's Cos., Inc. | 1566 | 393551 |
|  O'Reilly Automotive, Inc.\* | 2371 | 255618 |
|  Ross Stores, Inc. | 914 | 139284 |
|  TJX Cos., Inc. (The) | 3117 | 450531 |
|  Tractor Supply Co. | 1485 | 84452 |
|  Ulta Beauty, Inc.\* | 126 | 68891 |
|  Williams-Sonoma, Inc. | 344 | 67235 |
|  |  | 2847947 |
|  ***Textiles, Apparel & Luxury Goods (0.1%)*** |  |  |
|  Deckers Outdoor Corp.\* | 415 | 42068 |
|  Lululemon Athletica, Inc.\* | 305 | 54269 |
|  NIKE, Inc., Class B | 3320 | 231504 |
|  Ralph Lauren Corp. | 109 | 34178 |
|  Tapestry, Inc. | 582 | 65894 |
|  |  | 427913 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 16807510 |
|  **Consumer Staples (1.9%)** |  |  |
|  ***Beverages (0.4%)*** |  |  |
|  Brown-Forman Corp., Class B | 501 | 13567 |
|  Coca-Cola Co. (The) | 10823 | 717781 |
|  Constellation Brands, Inc., Class A | 399 | 53733 |
|  Keurig Dr Pepper, Inc. | 3797 | 96862 |
|  Molson Coors Beverage Co., Class B | 473 | 21403 |
|  Monster Beverage Corp.\* | 1992 | 134082 |
|  PepsiCo, Inc. | 3826 | 537323 |
|  |  | 1574751 |
|  ***Consumer Staples Distribution & Retail (0.7%)*** |  |  |
|  Costco Wholesale Corp. | 1243 | 1150558 |
|  Dollar General Corp. | 614 | 63457 |
|  Dollar Tree, Inc.\* | 542 | 51148 |
|  Kroger Co. (The) | 1700 | 114597 |
|  Sysco Corp. | 1334 | 109842 |
|  Target Corp. | 1270 | 113919 |

---

See Notes to Portfolio of Investments.

590

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Walmart, Inc. | 12265 | $1264031 |
|  |  | 2867552 |
|  ***Food Products (0.2%)*** |  |  |
|  Archer-Daniels-Midland Co. | 1343 | 80231 |
|  Bunge Global SA | 391 | 31769 |
|  Campbell's Co. (The)(x) | 550 | 17369 |
|  Conagra Brands, Inc. | 1339 | 24517 |
|  General Mills, Inc. | 1494 | 75327 |
|  Hershey Co. (The) | 414 | 77439 |
|  Hormel Foods Corp. | 812 | 20089 |
|  J M Smucker Co. (The) | 297 | 32254 |
|  Kellanova | 751 | 61597 |
|  Kraft Heinz Co. (The) | 2381 | 62001 |
|  Lamb Weston Holdings, Inc. | 389 | 22593 |
|  McCormick & Co., Inc. (Non- Voting) | 704 | 47105 |
|  Mondelez International, Inc., Class A | 3616 | 225892 |
|  Tyson Foods, Inc., Class A | 794 | 43114 |
|  |  | 821297 |
|  ***Household Products (0.3%)*** |  |  |
|  Church & Dwight Co., Inc. | 681 | 59676 |
|  Clorox Co. (The) | 344 | 42415 |
|  Colgate-Palmolive Co. | 2258 | 180505 |
|  Kimberly-Clark Corp. | 927 | 115263 |
|  Procter & Gamble Co. (The) | 6545 | 1005639 |
|  |  | 1403498 |
|  ***Personal Care Products (0.0%)†*** |  |  |
|  Estee Lauder Cos., Inc. (The), Class A | 652 | 57454 |
|  Kenvue, Inc. | 5356 | 86928 |
|  |  | 144382 |
|  ***Tobacco (0.3%)*** |  |  |
|  Altria Group, Inc. | 4694 | 310086 |
|  Philip Morris International, Inc. | 4350 | 705570 |
|  |  | 1015656 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 7827136 |
|  **Energy (1.1%)** |  |  |
|  ***Energy Equipment & Services (0.1%)*** |  |  |
|  Baker Hughes Co. | 2761 | 134516 |
|  Halliburton Co. | 2393 | 58868 |
|  Schlumberger NV | 4169 | 143288 |
|  |  | 336672 |
|  ***Oil, Gas & Consumable Fuels (1.0%)*** |  |  |
|  APA Corp. | 1000 | 24280 |
|  Chevron Corp. | 5378 | 835150 |
|  ConocoPhillips | 3490 | 330119 |
|  Coterra Energy, Inc. | 2133 | 50445 |
|  Devon Energy Corp. | 1774 | 62196 |
|  Diamondback Energy, Inc. | 526 | 75271 |
|  EOG Resources, Inc. | 1526 | 171095 |
|  EQT Corp. | 1744 | 94926 |
|  Expand Energy Corp. | 665 | 70650 |
|  Exxon Mobil Corp. | 11913 | 1343191 |
|  Kinder Morgan, Inc. | 5464 | 154686 |
|  Marathon Petroleum Corp. | 850 | 163829 |
|  Occidental Petroleum Corp. | 2008 | 94878 |
|  ONEOK, Inc. | 1760 | 128427 |
|  Phillips 66 | 1129 | 153567 |
|  Targa Resources Corp. | 601 | 100691 |
|  Texas Pacific Land Corp. | 54 | 50416 |
|  Valero Energy Corp. | 868 | 147786 |
|  Williams Cos., Inc. (The) | 3408 | 215897 |
|  |  | 4267500 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 4604172 |
|  **Financials (5.2%)** |  |  |
|  ***Banks (1.4%)*** |  |  |
|  Bank of America Corp. | 19042 | 982377 |
|  Citigroup, Inc. | 5144 | 522116 |
|  Citizens Financial Group, Inc. | 1205 | 64058 |
|  Fifth Third Bancorp | 1850 | 82417 |
|  Huntington Bancshares, Inc. | 4096 | 70738 |
|  JPMorgan Chase & Co. | 7696 | 2427549 |
|  KeyCorp | 2604 | 48669 |
|  M&T Bank Corp. | 437 | 86360 |
|  PNC Financial Services Group, Inc. (The) | 1100 | 221023 |
|  Regions Financial Corp. | 2493 | 65740 |
|  Truist Financial Corp. | 3603 | 164729 |
|  US Bancorp | 4349 | 210187 |
|  Wells Fargo & Co. | 8952 | 750357 |
|  |  | 5696320 |
|  ***Capital Markets (1.3%)*** |  |  |
|  Ameriprise Financial, Inc. | 263 | 129199 |
|  Bank of New York Mellon Corp. (The) | 1971 | 214760 |
|  BlackRock, Inc. | 405 | 472177 |
|  Blackstone, Inc. | 2060 | 351951 |
|  Cboe Global Markets, Inc. | 292 | 71613 |
|  Charles Schwab Corp. (The) | 4768 | 455201 |
|  CME Group, Inc. | 1007 | 272081 |
|  Coinbase Global, Inc., Class A\* | 632 | 213294 |
|  FactSet Research Systems, Inc. | 106 | 30368 |
|  Franklin Resources, Inc. | 841 | 19452 |
|  Goldman Sachs Group, Inc. (The) | 846 | 673712 |
|  Interactive Brokers Group, Inc., Class A | 1240 | 85325 |
|  Intercontinental Exchange, Inc. | 1600 | 269568 |
|  KKR & Co., Inc. | 1917 | 249114 |
|  Moody's Corp. | 431 | 205363 |
|  Morgan Stanley | 3390 | 538874 |
|  MSCI, Inc. | 216 | 122561 |
|  Nasdaq, Inc. | 1267 | 112066 |
|  Northern Trust Corp. | 534 | 71876 |
|  Raymond James Financial, Inc. | 496 | 85610 |
|  Robinhood Markets, Inc., Class A\* | 2163 | 309698 |
|  S&P Global, Inc. | 873 | 424898 |
|  State Street Corp. | 793 | 91996 |
| T. Rowe Price Group, Inc. | 614 | 63021 |
|  |  | 5533778 |
|  ***Consumer Finance (0.2%)*** |  |  |
|  American Express Co. | 1517 | 503887 |
|  Capital One Financial Corp. | 1787 | 379880 |
|  Synchrony Financial | 1040 | 73892 |
|  |  | 957659 |
|  ***Financial Services (1.6%)*** |  |  |
|  Apollo Global Management, Inc. | 1286 | 171385 |
|  Berkshire Hathaway, Inc., Class B\* | 5131 | 2579559 |
|  Block, Inc., Class A\* | 1536 | 111007 |
|  Corpay, Inc.\* | 197 | 56748 |
|  Fidelity National Information Services, Inc. | 1460 | 96272 |
|  Fiserv, Inc.\* | 1519 | 195845 |
|  Global Payments, Inc. | 678 | 56328 |
|  Jack Henry & Associates, Inc. | 204 | 30382 |
|  Mastercard, Inc., Class A | 2307 | 1312245 |
|  PayPal Holdings, Inc.\* | 2670 | 179050 |
|  Visa, Inc., Class A | 4747 | 1620531 |
|  |  | 6409352 |
|  ***Insurance (0.7%)*** |  |  |
|  Aflac, Inc. | 1345 | 150237 |
|  Allstate Corp. (The) | 736 | 157982 |

---

See Notes to Portfolio of Investments.

591

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  American International Group, Inc. | 1548 | $121580 |
|  Aon plc, Class A | 603 | 215018 |
|  Arch Capital Group Ltd. | 1039 | 94268 |
|  Arthur J Gallagher & Co. | 716 | 221774 |
|  Assurant, Inc. | 141 | 30541 |
|  Brown & Brown, Inc. | 819 | 76814 |
|  Chubb Ltd. | 1036 | 292411 |
|  Cincinnati Financial Corp. | 438 | 69248 |
|  Erie Indemnity Co., Class A(x) | 71 | 22589 |
|  Everest Group Ltd. | 117 | 40977 |
|  Globe Life, Inc. | 226 | 32311 |
|  Hartford Insurance Group, Inc. (The) | 786 | 104845 |
|  Loews Corp. | 475 | 47685 |
|  Marsh & McLennan Cos., Inc. | 1374 | 276902 |
|  MetLife, Inc. | 1561 | 128580 |
|  Principal Financial Group, Inc. | 566 | 46927 |
|  Progressive Corp. (The) | 1638 | 404504 |
|  Prudential Financial, Inc. | 984 | 102080 |
|  Travelers Cos., Inc. (The) | 629 | 175629 |
|  W.R. Berkley Corp. | 837 | 64131 |
|  Willis Towers Watson plc | 273 | 94308 |
|  |  | 2971341 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 21568450 |
|  **Health Care (3.4%)** |  |  |
|  ***Biotechnology (0.6%)*** |  |  |
|  AbbVie, Inc. | 4936 | 1142882 |
|  Amgen, Inc. | 1504 | 424429 |
|  Biogen, Inc.\* | 410 | 57433 |
|  Gilead Sciences, Inc. | 3467 | 384837 |
|  Incyte Corp.\* | 458 | 38843 |
|  Moderna, Inc.\* | 968 | 25003 |
|  Regeneron Pharmaceuticals, Inc. | 285 | 160247 |
|  Vertex Pharmaceuticals, Inc.\* | 716 | 280414 |
|  |  | 2514088 |
|  ***Health Care Equipment & Supplies (0.8%)*** |  |  |
|  Abbott Laboratories | 4864 | 651484 |
|  Align Technology, Inc.\* | 188 | 23541 |
|  Baxter International, Inc. | 1433 | 32629 |
|  Becton Dickinson & Co. | 801 | 149923 |
|  Boston Scientific Corp.\* | 4141 | 404286 |
|  Cooper Cos., Inc. (The)\* | 556 | 38119 |
|  Dexcom, Inc.\* | 1096 | 73750 |
|  Edwards Lifesciences Corp.\* | 1639 | 127465 |
|  GE HealthCare Technologies, Inc. | 1275 | 95753 |
|  Hologic, Inc.\* | 620 | 41844 |
|  IDEXX Laboratories, Inc.\* | 224 | 143111 |
|  Insulet Corp.\* | 197 | 60820 |
|  Intuitive Surgical, Inc.\* | 1002 | 448125 |
|  Medtronic plc | 3580 | 340959 |
|  ResMed, Inc. | 409 | 111956 |
|  Solventum Corp.\* | 412 | 30076 |
|  STERIS plc | 276 | 68293 |
|  Stryker Corp. | 961 | 355253 |
|  Zimmer Biomet Holdings, Inc. | 553 | 54471 |
|  |  | 3251858 |
|  ***Health Care Providers & Services (0.6%)*** |  |  |
|  Cardinal Health, Inc. | 667 | 104692 |
|  Cencora, Inc. | 542 | 169391 |
|  Centene Corp.\* | 1304 | 46527 |
|  Cigna Group (The) | 746 | 215034 |
|  CVS Health Corp. | 3544 | 267182 |
|  DaVita, Inc.\* | 100 | 13287 |
|  Elevance Health, Inc. | 629 | 203242 |
|  HCA Healthcare, Inc. | 458 | 195200 |
|  Henry Schein, Inc.\* | 288 | 19115 |
|  Humana, Inc. | 337 | 87677 |
|  Labcorp Holdings, Inc. | 232 | 66598 |
|  McKesson Corp. | 348 | 268844 |
|  Molina Healthcare, Inc.\* | 152 | 29087 |
|  Quest Diagnostics, Inc. | 311 | 59270 |
|  UnitedHealth Group, Inc. | 2531 | 873954 |
|  Universal Health Services, Inc., Class B | 158 | 32302 |
|  |  | 2651402 |
|  ***Life Sciences Tools & Services (0.3%)*** |  |  |
|  Agilent Technologies, Inc. | 794 | 101910 |
|  Bio-Techne Corp. | 437 | 24310 |
|  Charles River Laboratories |  |  |
|  International, Inc.\* | 138 | 21592 |
|  Danaher Corp. | 1781 | 353101 |
|  IQVIA Holdings, Inc.\* | 475 | 90222 |
|  Mettler-Toledo International, Inc.\* | 58 | 71201 |
|  Revvity, Inc. | 324 | 28399 |
|  Thermo Fisher Scientific, Inc. | 1055 | 511696 |
|  Waters Corp.\* | 166 | 49768 |
|  West Pharmaceutical Services, Inc. | 201 | 52728 |
|  |  | 1304927 |
|  ***Pharmaceuticals (1.1%)*** |  |  |
|  Bristol-Myers Squibb Co. | 5695 | 256845 |
|  Eli Lilly & Co. | 2222 | 1695386 |
|  Johnson & Johnson | 6730 | 1247877 |
|  Merck & Co., Inc. | 6980 | 585831 |
|  Pfizer, Inc. | 15888 | 404826 |
|  Viatris, Inc. | 3258 | 32254 |
|  Zoetis, Inc. | 1238 | 181144 |
|  |  | 4404163 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 14126438 |
|  **Industrials (3.2%)** |  |  |
|  ***Aerospace & Defense (0.9%)*** |  |  |
|  Axon Enterprise, Inc.\* | 219 | 157163 |
|  Boeing Co. (The)\* | 2113 | 456049 |
|  GE Aerospace | 2963 | 891330 |
|  General Dynamics Corp. | 706 | 240746 |
|  Howmet Aerospace, Inc. | 1126 | 220955 |
|  Huntington Ingalls Industries, Inc. | 110 | 31670 |
|  L3Harris Technologies, Inc. | 523 | 159729 |
|  Lockheed Martin Corp. | 574 | 286547 |
|  Northrop Grumman Corp. | 376 | 229104 |
|  RTX Corp. | 3740 | 625814 |
|  Textron, Inc. | 498 | 42076 |
|  TransDigm Group, Inc. | 160 | 210883 |
|  |  | 3552066 |
|  ***Air Freight & Logistics (0.1%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 328 | 43427 |
|  Expeditors International of Washington, Inc. | 379 | 46462 |
|  FedEx Corp. | 606 | 142901 |
|  United Parcel Service, Inc., Class B | 2055 | 171654 |
|  |  | 404444 |
|  ***Building Products (0.2%)*** |  |  |
|  A.O. Smith Corp. | 319 | 23418 |
|  Allegion plc | 240 | 42564 |
|  Builders FirstSource, Inc.\* | 309 | 37466 |
|  Carrier Global Corp. | 2235 | 133429 |
|  Johnson Controls International plc | 1829 | 201099 |
|  Lennox International, Inc. | 89 | 47113 |
|  Masco Corp. | 585 | 41178 |
|  Trane Technologies plc | 622 | 262459 |
|  |  | 788726 |
|  ***Commercial Services & Supplies (0.2%)*** |  |  |
|  Cintas Corp. | 957 | 196434 |
|  Copart, Inc.\* | 2486 | 111795 |

---

See Notes to Portfolio of Investments.

592

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** | **Value**<br>**(Note 1)** |  |
|  Republic Services, Inc. | 567 | $| 130115 |  |
|  Rollins, Inc. | 786 |  | 46170 |  |
|  Veralto Corp. | 693 |  | 73881 |  |
|  Waste Management, Inc. | 1036 |  | 228780 |  |
|  |  |  | 787175 |  |
|  ***Construction & Engineering (0.1%)*** |  |  |  |  |
|  EMCOR Group, Inc. | 125 |  | 81192 |  |
|  Quanta Services, Inc. | 425 |  | 176129 |  |
|  |  |  | 257321 |  |
|  ***Electrical Equipment (0.3%)*** |  |  |  |  |
|  AMETEK, Inc. | 646 |  | 121448 |  |
|  Eaton Corp. plc | 1088 |  | 407184 |  |
|  Emerson Electric Co. | 1573 |  | 206346 |  |
|  GE Vernova, Inc. | 761 |  | 467939 |  |
|  Generac Holdings, Inc.\* | 164 |  | 27454 |  |
|  Hubbell, Inc., Class B | 148 |  | 63686 |  |
|  Rockwell Automation, Inc. | 314 |  | 109752 |  |
|  |  |  | 1403809 |  |
|  ***Ground Transportation (0.3%)*** |  |  |  |  |
|  CSX Corp. | 5209 |  | 184972 |  |
|  JB Hunt Transport Services, Inc. | 214 |  | 28713 |  |
|  Norfolk Southern Corp. | 627 |  | 188357 |  |
|  Old Dominion Freight Line, Inc. | 517 |  | 72783 |  |
|  Uber Technologies, Inc.\* | 5827 |  | 570871 |  |
|  Union Pacific Corp. | 1657 |  | 391665 |  |
|  |  |  | 1437361 |  |
|  ***Industrial Conglomerates (0.1%)*** |  |  |  |  |
|  3M Co. | 1488 |  | 230908 |  |
|  Honeywell International, Inc. | 1774 |  | 373427 |  |
|  |  |  | 604335 |  |
|  ***Machinery (0.6%)*** |  |  |  |  |
|  Caterpillar, Inc. | 1309 |  | 624589 |  |
|  Cummins, Inc. | 385 |  | 162612 |  |
|  Deere & Co. | 704 |  | 321911 |  |
|  Dover Corp. | 384 |  | 64063 |  |
|  Fortive Corp. | 942 |  | 46149 |  |
|  IDEX Corp. | 212 |  | 34505 |  |
|  Illinois Tool Works, Inc. | 741 |  | 193223 |  |
|  Ingersoll Rand, Inc. | 1011 |  | 83529 |  |
|  Nordson Corp. | 150 |  | 34042 |  |
|  Otis Worldwide Corp. | 1097 |  | 100299 |  |
|  PACCAR, Inc. | 1467 |  | 144235 |  |
|  Parker-Hannifin Corp. | 357 |  | 270660 |  |
|  Pentair plc | 458 |  | 50728 |  |
|  Snap-on, Inc. | 146 |  | 50593 |  |
|  Stanley Black & Decker, Inc. | 429 |  | 31888 |  |
|  Westinghouse Air Brake Technologies Corp. | 478 |  | 95825 |  |
|  Xylem, Inc. | 678 |  | 100005 |  |
|  |  |  | 2408856 |  |
|  ***Passenger Airlines (0.1%)*** |  |  |  |  |
|  Delta Air Lines, Inc. | 1814 |  | 102944 |  |
|  Southwest Airlines Co. | 1468 |  | 46844 |  |
|  United Airlines Holdings, Inc.\* | 905 |  | 87333 |  |
|  |  |  | 237121 |  |
|  ***Professional Services (0.2%)*** |  |  |  |  |
|  Automatic Data Processing, Inc. | 1132 |  | 332242 |  |
|  Broadridge Financial Solutions, Inc. | 327 |  | 77882 |  |
|  Dayforce, Inc.\* | 442 |  | 30449 |  |
|  Equifax, Inc. | 346 |  | 88759 |  |
|  Jacobs Solutions, Inc. | 334 |  | 50053 |  |
|  Leidos Holdings, Inc. | 359 |  | 67837 |  |
|  Paychex, Inc. | 906 |  | 114844 |  |
|  Paycom Software, Inc. | 140 |  | 29140 |  |
|  Verisk Analytics, Inc. | 390 |  | 98089 |  |
|  |  |  | 889295 |  |
|  ***Trading Companies & Distributors (0.1%)*** | ***Trading Companies & Distributors (0.1%)*** | ***Trading Companies & Distributors (0.1%)*** | ***Trading Companies & Distributors (0.1%)*** | **** |
|  Fastenal Co. | 3202 |  | 157026 |  |
|  United Rentals, Inc. | 180 |  | 171839 |  |
|  W.W. Grainger, Inc. | 123 |  | 117214 |  |
|  |  |  | 446079 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  |  | 13216588 |  |
|  **Information Technology (13.4%)** |  |  |  |  |
|  ***Communications Equipment (0.3%)*** |  |  |  |  |
|  Arista Networks, Inc.\* | 2880 |  | 419645 |  |
|  Cisco Systems, Inc. | 11066 |  | 757135 |  |
|  F5, Inc.\* | 162 |  | 52357 |  |
|  Motorola Solutions, Inc. | 466 |  | 213097 |  |
|  |  |  | 1442234 |  |
|  ***Electronic Equipment, Instruments & Components (0.3%)*** |  |  |  |  |
|  Amphenol Corp., Class A | 3412 |  | 422235 |  |
|  CDW Corp. | 366 |  | 58297 |  |
|  Corning, Inc. | 2178 |  | 178661 |  |
|  Jabil, Inc. | 301 |  | 65368 |  |
|  Keysight Technologies, Inc.\* | 482 |  | 84312 |  |
|  TE Connectivity plc | 826 |  | 181332 |  |
|  Teledyne Technologies, Inc.\* | 131 |  | 76771 |  |
|  Trimble, Inc.\* | 665 |  | 54297 |  |
|  Zebra Technologies Corp., Class A\* | 143 |  | 42494 |  |
|  |  |  | 1163767 |  |
|  ***IT Services (0.4%)*** |  |  |  |  |
|  Accenture plc, Class A | 1740 |  | 429084 |  |
|  Akamai Technologies, Inc.\* | 401 |  | 30380 |  |
|  Cognizant Technology Solutions Corp., Class A | 1365 |  | 91551 |  |
|  EPAM Systems, Inc.\* | 158 |  | 23825 |  |
|  Gartner, Inc.\* | 212 |  | 55728 |  |
|  GoDaddy, Inc., Class A\* | 387 |  | 52953 |  |
|  International Business Machines Corp. | 2603 |  | 734462 |  |
|  VeriSign, Inc. | 235 |  | 65699 |  |
|  |  |  | 1483682 |  |
|  ***Semiconductors & Semiconductor Equipment (5.3%)*** |  |  |  |  |
|  Advanced Micro Devices, Inc.\* | 4535 |  | 733718 |  |
|  Analog Devices, Inc. | 1387 |  | 340786 |  |
|  Applied Materials, Inc. | 2242 |  | 459027 |  |
|  Broadcom, Inc. | 13156 |  | 4340296 |  |
|  First Solar, Inc.\* | 300 |  | 66159 |  |
|  Intel Corp.\* | 12221 |  | 410014 |  |
|  KLA Corp. | 369 |  | 398003 |  |
|  Lam Research Corp. | 3537 |  | 473604 |  |
|  Microchip Technology, Inc. | 1508 |  | 96844 |  |
|  Micron Technology, Inc. | 3127 |  | 523210 |  |
|  Monolithic Power Systems, Inc. | 134 |  | 123366 |  |
|  NVIDIA Corp. | 68217 |  | 12727928 |  |
|  NXP Semiconductors NV | 705 |  | 160550 |  |
|  ON Semiconductor Corp.\* | 1143 |  | 56361 |  |
|  QUALCOMM, Inc. | 3014 |  | 501409 |  |
|  Skyworks Solutions, Inc. | 415 |  | 31947 |  |
|  Teradyne, Inc. | 445 |  | 61250 |  |
|  Texas Instruments, Inc. | 2540 |  | 466674 |  |
|  |  |  | 21971146 |  |
|  ***Software (4.4%)*** |  |  |  |  |
|  Adobe, Inc.\* | 1185 |  | 418009 |  |
|  AppLovin Corp., Class A\* | 756 |  | 543216 |  |
|  Autodesk, Inc.\* | 598 |  | 189967 |  |
|  Cadence Design Systems, Inc.\* | 761 |  | 267309 |  |
|  Crowdstrike Holdings, Inc., Class A\* | 696 |  | 341304 |  |
|  Datadog, Inc., Class A\* | 903 |  | 128587 |  |
|  Fair Isaac Corp.\* | 67 |  | 100267 |  |
|  Fortinet, Inc.\* | 1820 |  | 153026 |  |
|  Gen Digital, Inc. | 1566 |  | 44459 |  |

---

See Notes to Portfolio of Investments.

593

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Intuit, Inc. | 784 | $535401 |
|  Microsoft Corp. | 20783 | 10764555 |
|  Oracle Corp. | 4631 | 1302422 |
|  Palantir Technologies, Inc., Class A\* | 6355 | 1159279 |
|  Palo Alto Networks, Inc.\* | 1866 | 379955 |
|  PTC, Inc.\* | 335 | 68012 |
|  Roper Technologies, Inc. | 301 | 150106 |
|  Salesforce, Inc. | 2671 | 633027 |
|  ServiceNow, Inc.\* | 581 | 534683 |
|  Synopsys, Inc.\* | 517 | 255083 |
|  Tyler Technologies, Inc.\* | 121 | 63302 |
|  Workday, Inc., Class A\* | 604 | 145401 |
|  |  | 18177370 |
|  ***Technology Hardware, Storage & Peripherals (2.7%)*** |  |  |
|  Apple, Inc. | 41494 | 10565617 |
|  Dell Technologies, Inc., Class C | 844 | 119654 |
|  Hewlett Packard Enterprise Co. | 3667 | 90061 |
|  HP, Inc. | 2625 | 71479 |
|  NetApp, Inc. | 559 | 66219 |
|  Seagate Technology Holdings plc | 594 | 140220 |
|  Super Micro Computer, Inc.(x)\* | 1400 | 67116 |
|  Western Digital Corp. | 969 | 116338 |
|  |  | 11236704 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 55474903 |
|  **Materials (0.7%)** |  |  |
|  ***Chemicals (0.4%)*** |  |  |
|  Air Products and Chemicals, Inc. | 622 | 169632 |
|  Albemarle Corp. | 327 | 26513 |
|  CF Industries Holdings, Inc. | 452 | 40544 |
|  Corteva, Inc. | 1898 | 128362 |
|  Dow, Inc. | 1981 | 45424 |
|  DuPont de Nemours, Inc. | 1169 | 91065 |
|  Eastman Chemical Co. | 321 | 20239 |
|  Ecolab, Inc. | 713 | 195262 |
|  International Flavors & Fragrances, Inc. | 714 | 43940 |
|  Linde plc | 1310 | 622250 |
|  LyondellBasell Industries NV, Class A | 721 | 35358 |
|  Mosaic Co. (The) | 887 | 30761 |
|  PPG Industries, Inc. | 631 | 66324 |
|  Sherwin-Williams Co. (The) | 648 | 224377 |
|  |  | 1740051 |
|  ***Construction Materials (0.1%)*** |  |  |
|  Martin Marietta Materials, Inc. | 169 | 106517 |
|  Vulcan Materials Co. | 370 | 113820 |
|  |  | 220337 |
|  ***Containers & Packaging (0.1%)*** |  |  |
|  Amcor plc | 6423 | 52540 |
|  Avery Dennison Corp. | 218 | 35353 |
|  Ball Corp. | 760 | 38319 |
|  International Paper Co. | 1473 | 68347 |
|  Packaging Corp. of America | 250 | 54483 |
|  Smurfit WestRock plc | 1459 | 62110 |
|  |  | 311152 |
|  ***Metals & Mining (0.1%)*** |  |  |
|  Freeport-McMoRan, Inc. | 4012 | 157351 |
|  Newmont Corp. | 3069 | 258747 |
|  Nucor Corp. | 641 | 86811 |
|  Steel Dynamics, Inc. | 387 | 53959 |
|  |  | 556868 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 2828408 |
|  **Real Estate (0.8%)** |  |  |
|  ***Health Care REITs (0.1%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) | 433 | 36086 |
|  Healthpeak Properties, Inc. (REIT) | 1942 | 37189 |
|  Ventas, Inc. (REIT) | 1270 | 88887 |
|  Welltower, Inc. (REIT) | 1869 | 332944 |
|  |  | 495106 |
|  ***Hotel & Resort REITs (0.0%)†*** |  |  |
|  Host Hotels & Resorts, Inc. (REIT) | 1787 | 30415 |
|  ***Industrial REITs (0.1%)*** |  |  |
|  Prologis, Inc. (REIT) | 2593 | 296950 |
|  ***Office REITs (0.0%)†*** |  |  |
|  BXP, Inc. (REIT)(x) | 412 | 30628 |
|  ***Real Estate Management & Development (0.1%)*** |  |  |
|  CBRE Group, Inc., Class A\* | 819 | 129042 |
|  CoStar Group, Inc.\* | 1182 | 99725 |
|  |  | 228767 |
|  ***Residential REITs (0.1%)*** |  |  |
|  AvalonBay Communities, Inc. (REIT) | 397 | 76689 |
|  Camden Property Trust (REIT) | 296 | 31607 |
|  Equity Residential (REIT) | 971 | 62853 |
|  Essex Property Trust, Inc. (REIT) | 179 | 47911 |
|  Invitation Homes, Inc. (REIT) | 1584 | 46459 |
|  Mid-America Apartment Communities, Inc. (REIT) | 325 | 45412 |
|  UDR, Inc. (REIT) | 847 | 31559 |
|  |  | 342490 |
|  ***Retail REITs (0.1%)*** |  |  |
|  Federal Realty Investment Trust (REIT) | 219 | 22187 |
|  Kimco Realty Corp. (REIT) | 1892 | 41340 |
|  Realty Income Corp. (REIT) | 2555 | 155319 |
|  Regency Centers Corp. (REIT) | 460 | 33534 |
|  Simon Property Group, Inc. (REIT) | 912 | 171155 |
|  |  | 423535 |
|  ***Specialized REITs (0.3%)*** |  |  |
|  American Tower Corp. (REIT) | 1308 | 251555 |
|  Crown Castle, Inc. (REIT) | 1217 | 117428 |
|  Digital Realty Trust, Inc. (REIT) | 896 | 154900 |
|  Equinix, Inc. (REIT) | 273 | 213825 |
|  Extra Space Storage, Inc. (REIT) | 592 | 83436 |
|  Iron Mountain, Inc. (REIT) | 825 | 84100 |
|  Public Storage (REIT) | 441 | 127383 |
|  SBA Communications Corp. (REIT) | 301 | 58198 |
|  VICI Properties, Inc. (REIT), Class A | 2980 | 97178 |
|  Weyerhaeuser Co. (REIT) | 2016 | 49977 |
|  |  | 1237980 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 3085871 |
|  **Utilities (0.9%)** |  |  |
|  ***Electric Utilities (0.6%)*** |  |  |
|  Alliant Energy Corp. | 717 | 48333 |
|  American Electric Power Co., Inc. | 1494 | 168075 |
|  Constellation Energy Corp. | 873 | 287278 |
|  Duke Energy Corp. | 2172 | 268785 |
|  Edison International | 1076 | 59481 |
|  Entergy Corp. | 1247 | 116208 |
|  Evergy, Inc. | 640 | 48653 |
|  Eversource Energy | 1037 | 73772 |
|  Exelon Corp. | 2822 | 127018 |
|  FirstEnergy Corp. | 1452 | 66531 |

---

See Notes to Portfolio of Investments.

594

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  NextEra Energy, Inc. | 5754 | $434370 |
|  NRG Energy, Inc. | 541 | 87615 |
|  PG&E Corp. | 6142 | 92621 |
|  Pinnacle West Capital Corp. | 334 | 29946 |
|  PPL Corp. | 2063 | 76661 |
|  Southern Co. (The) | 3074 | 291323 |
|  Xcel Energy, Inc. | 1653 | 133315 |
|  |  | 2409985 |
|  ***Gas Utilities (0.0%)†*** |  |  |
|  Atmos Energy Corp. | 448 | 76496 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  AES Corp. (The) | 1988 | 26162 |
|  Vistra Corp. | 890 | 174369 |
|  |  | 200531 |
|  ***Multi-Utilities (0.2%)*** |  |  |
|  Ameren Corp. | 756 | 78911 |
|  CenterPoint Energy, Inc. | 1824 | 70771 |
|  CMS Energy Corp. | 835 | 61172 |
|  Consolidated Edison, Inc. | 1008 | 101324 |
|  Dominion Energy, Inc. | 2385 | 145891 |
|  DTE Energy Co. | 579 | 81888 |
|  NiSource, Inc. | 1316 | 56983 |
|  Public Service Enterprise Group, Inc. | 1393 | 116260 |
|  Sempra | 1823 | 164034 |
|  WEC Energy Group, Inc. | 899 | 103016 |
|  |  | 980250 |
|  ***Water Utilities (0.0%)†*** |  |  |
|  American Water Works Co., Inc. | 545 | 75858 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 3743120 |
|  **Total Common Stocks (38.6%)**<br> *(Cost $89,831,898)* |  | 159452895 |
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Corporate Bonds (38.9%)** |  |  |
|  **Communication Services (3.1%)** |  |  |
|  ***Diversified Telecommunication Services (1.1%)*** |  |  |
|  AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 2/1/32 | $402000 | 351686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/15/35 | 861000 | 829919 |
|  British Telecommunications plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 12/15/30(e) | 175000 | 215458 |
|  Deutsche Telekom International Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 6/15/30(e) | 300000 | 353243 |
|  Orange SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 3/1/31(e) | 297000 | 360904 |
|  Sprint Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 3/15/32 | 200000 | 243434 |
|  Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 3/21/31 | 437000 | 397058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.355%, 3/15/32 | 550000 | 482437 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/10/33 | 409000 | 402179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 9/15/33 | 298000 | 328263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 4/2/35 | 532000 | 540319 |
|  |  | 4504900 |
|  ***Entertainment (0.3%)*** |  |  |
|  Netflix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 8/15/34 | 600000 | 619382 |
|  Walt Disney Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 1/13/31 | 400000 | 372143 |
|  |  | 991525 |
|  ***Interactive Media & Services (0.4%)*** |  |  |
|  Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/15/35 | 797000 | 797820 |
|  Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 8/15/32 | 500000 | 486780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 5/15/33 | 153000 | 158191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 8/15/34 | 214000 | 216257 |
|  |  | 1659048 |
|  ***Media (0.8%)*** |  |  |
|  Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 4/1/31 | 375000 | 338693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.550%, 6/1/34 | 273000 | 290682 |
|  Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/15/30 | 200000 | 200176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/15/33(x) | 391000 | 383213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 8/15/34 | 1045000 | 998916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 5/15/35 | 777000 | 797060 |
|  Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 1/15/31 | 250000 | 246714 |
|  |  | 3255454 |
|  ***Wireless Telecommunication Services (0.5%)*** |  |  |
|  T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 2/15/31 | 970000 | 881027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 7/15/33 | 385000 | 393243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 4/15/34 | 276000 | 282114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 1/15/35 | 619000 | 607725 |
|  |  | 2164109 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 12575036 |
|  **Consumer Discretionary (1.7%)** |  |  |
|  ***Automobiles (0.2%)*** |  |  |
|  Ford Motor Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 2/12/32 | 469000 | 409273 |
|  General Motors Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 10/15/32 | 500000 | 518390 |
|  |  | 927663 |
|  ***Broadline Retail (0.5%)*** |  |  |
|  Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 5/12/31 | 932000 | 836404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 4/13/32 | 563000 | 543680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 12/5/34 | 211000 | 217697 |
|  eBay, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 5/10/31 | 420000 | 381691 |
|  |  | 1979472 |
|  ***Hotels, Restaurants & Leisure (0.3%)*** |  |  |
|  Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 5/15/34 | 379000 | 388740 |
|  McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 3/3/35 | 380000 | 385292 |
|  Starbucks Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 11/15/30 | 250000 | 229307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/14/32 | 253000 | 232759 |
|  |  | 1236098 |
|  ***Specialty Retail (0.7%)*** |  |  |
|  AutoZone, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 7/15/34(x) | 302000 | 312938 |
|  Home Depot, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 6/25/31 | 355000 | 365631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 4/15/32 | 270000 | 252538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/15/32 | 152000 | 154360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 6/25/34 | 606000 | 620903 |
|  Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 10/15/30 | 175000 | 153934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 4/1/31 | 390000 | 356149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/1/32 | 300000 | 286691 |

---

See Notes to Portfolio of Investments.

595

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 7/1/33 | $321000 | $331551 |
|  |  | 2834695 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 6977928 |
|  **Consumer Staples (2.6%)** |  |  |
|  ***Beverages (0.7%)*** |  |  |
|  Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 1/23/31 | 140000 | 144748 |
|  Coca-Cola Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 3/15/31(x) | 320000 | 277899 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 1/5/32 | 333000 | 297130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/13/34 | 365000 | 379516 |
|  Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/1/31 | 250000 | 220115 |
|  Diageo Capital plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 10/5/33 | 312000 | 331311 |
|  Keurig Dr Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 3/15/31 | 200000 | 176417 |
|  PepsiCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 7/18/32 | 400000 | 390267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 7/17/34 | 371000 | 376816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/23/35 | 172000 | 175197 |
|  |  | 2769416 |
|  ***Consumer Staples Distribution & Retail (0.7%)*** |  |  |
|  Dollar General Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 7/5/33 | 233000 | 241470 |
|  Kroger Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/15/34 | 671000 | 674934 |
|  Target Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/15/32 | 500000 | 502831 |
|  Walmart, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 9/22/31 | 1322000 | 1164239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 4/28/35 | 246000 | 252105 |
|  |  | 2835579 |
|  ***Food Products (0.3%)*** |  |  |
|  General Mills, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 1/30/35 | 202000 | 205410 |
|  JBS USA Holding Lux Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 4/1/33 | 146000 | 152275 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 3/15/34 | 264000 | 292151 |
|  Mondelez International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 8/28/34 | 373000 | 372118 |
|  Pilgrim's Pride Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7/1/33(x) | 179000 | 191156 |
|  Unilever Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 11/15/32 | 100000 | 109426 |
|  |  | 1322536 |
|  ***Household Products (0.3%)*** |  |  |
|  Kimberly-Clark Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/2/31 | 436000 | 388862 |
|  Procter & Gamble Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 10/29/30 | 200000 | 174916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 2/1/32 | 204000 | 185447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 10/24/34 | 441000 | 445691 |
|  |  | 1194916 |
|  ***Personal Care Products (0.1%)*** |  |  |
|  Estee Lauder Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 5/15/33 | 248000 | 248209 |
|  Haleon US Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 3/24/32 | 361000 | 342206 |
|  |  | 590415 |
|  ***Tobacco (0.5%)*** |  |  |
|  Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 2/4/32 | 320000 | 281821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 2/6/35 | 294000 | 304459 |
|  BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 10/19/32 | 174000 | 202875 |
|  Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/17/32 | 350000 | 372738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 2/15/33 | 426000 | 444123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/13/34 | 274000 | 282652 |
|  |  | 1888668 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 10601530 |
|  **Energy (3.1%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (3.1%)*** |  |  |
|  BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.721%, 1/12/32 | 420000 | 380230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.812%, 2/13/33 | 552000 | 558117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.227%, 11/17/34 | 145000 | 149723 |
|  Burlington Resources LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 8/15/31 | 100000 | 114178 |
|  Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/1/31 | 440000 | 423980 |
|  Chevron USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 10/15/30 | 177000 | 177727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.819%, 4/15/32 | 361000 | 370663 |
|  ConocoPhillips Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 9/15/33 | 332000 | 341263 |
|  Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 9/30/31 | 165000 | 191356 |
|  Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 3/15/33 | 224000 | 241204 |
|  Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 3/8/33 | 300000 | 315213 |
|  Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 2/15/33 | 326000 | 341567 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 5/15/34 | 281000 | 288065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 9/1/34 | 421000 | 430879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 4/1/35 | 437000 | 450773 |
|  Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 1/31/33 | 100000 | 104314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 2/15/35 | 274000 | 275878 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 3/1/33 | 100000 | 113242 |
|  EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 2/1/34 | 290000 | 303097 |
|  Exxon Mobil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.610%, 10/15/30 | 325000 | 303525 |
|  Hess Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.300%, 8/15/31 | 210000 | 241668 |
|  Kinder Morgan Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.300%, 8/15/33 | 287000 | 327975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 3/15/35 | 365000 | 381573 |
|  Kinder Morgan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/15/31 | 100000 | 88361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 1/15/32 | 100000 | 116217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 6/1/33 | 200000 | 204489 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 2/1/34 | 272000 | 279959 |
|  MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 9/1/32 | 390000 | 391090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/1/34 | 408000 | 415920 |
|  Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 9/1/30 | 228000 | 244127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 1/1/32 | 267000 | 271349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 10/1/34 | 938000 | 952184 |
|  ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 1/15/31 | 350000 | 375801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 11/15/32 | 100000 | 106954 |
|  Phillips 66 Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 6/30/33 | 384000 | 394569 |

---

See Notes to Portfolio of Investments.

596

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  Pioneer Natural Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 1/15/31 | $298000 | $267694 |
|  Shell Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 5/11/35 | 406000 | 389431 |
|  Targa Resources Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/15/32 | 200000 | 189557 |
|  TotalEnergies Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 4/5/34 | 223000 | 230803 |
|  Valero Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 12/1/31(x) | 200000 | 181558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 4/15/32 | 50000 | 57692 |
|  Williams Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 3/15/31 | 450000 | 407817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 8/15/32 | 350000 | 348511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 3/15/33 | 100000 | 104968 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 12845261 |
|  **Financials (13.6%)** |  |  |
|  ***Banks (6.9%)*** |  |  |
|  Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.749%, 12/3/30 | 200000 | 181401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.958%, 3/25/31 | 200000 | 185252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.921%, 8/8/33(x) | 400000 | 444924 |
|  Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.32%), 2.687%, 4/22/32(k) | 1100000 | 999347 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.21%), 2.572%, 10/20/32(k) | 404000 | 361974 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.83%), 4.571%, 4/27/33(k) | 1000000 | 997415 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.16%), 5.015%, 7/22/33(k) | 504000 | 514714 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.91%), 5.288%, 4/25/34(k) | 500000 | 517646 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.84%), 5.872%, 9/15/34(k) | 263000 | 281293 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.65%), 5.468%, 1/23/35(k) | 396000 | 412507 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.91%), 5.425%, 8/15/35(k) | 424000 | 432080 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.31%), 5.511%, 1/24/36(k) | 516000 | 538438 |
|  Bank of Nova Scotia (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.05%), 4.588%, 5/4/37(k) | 399000 | 385801 |
|  Barclays plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.50%), 7.437%, 11/2/33(k) | 600000 | 687629 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.98%), 6.224%, 5/9/34(k) | 200000 | 214847 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.62%), 6.692%, 9/13/34(k) | 252000 | 278364 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.59%), 5.785%, 2/25/36(k) | 200000 | 208462 |
|  Citibank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.570%, 4/30/34 | 394000 | 414806 |
|  Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.35%), 3.057%, 1/25/33(k) | 250000 | 227317 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.94%), 3.785%, 3/17/33(k) | 700000 | 666432 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.34%), 6.270%, 11/17/33(k) | 300000 | 326813 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.66%), 6.174%, 5/25/34(k) | 250000 | 265452 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.45%), 5.449%, 6/11/35(k) | 300000 | 310029 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.83%), 6.020%, 1/24/36(k) | 770000 | 805632 |
|  HSBC Bank USA NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/1/34 | 250000 | 266817 |
|  HSBC Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.19%), 2.804%, 5/24/32(k) | 1200000 | 1087696 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.87%), 5.402%, 8/11/33(k) | 400000 | 414005 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.39%), 6.254%, 3/9/34(k) | 200000 | 217535 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.02%), 7.399%, 11/13/34(k) | 249000 | 283009 |
|  JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.07%), 1.953%, 2/4/32(k) | 518000 | 457296 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.25%), 2.580%, 4/22/32(k) | 800000 | 725201 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), 2.963%, 1/25/33(k) | 423000 | 386587 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.80%), 4.586%, 4/26/33(k) | 351000 | 350979 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.08%), 4.912%, 7/25/33(k) | 187000 | 190154 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.85%), 5.350%, 6/1/34(k) | 213000 | 221181 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.81%), 6.254%, 10/23/34(k) | 315000 | 346937 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.62%), 5.336%, 1/23/35(k) | 553000 | 574026 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.49%), 5.766%, 4/22/35(k) | 650000 | 692716 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.46%), 5.294%, 7/22/35(k) | 784000 | 810050 |
|  KeyBank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/26/33 | 300000 | 301663 |
|  Lloyds Banking Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.30%), 4.976%, 8/11/33(k) | 200000 | 203012 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.75%), 5.679%, 1/5/35(k) | 261000 | 273116 |
|  Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.13%), 5.133%, 7/20/33(k) | 400000 | 411459 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.27%), 5.615%, 4/24/36(k) | 434000 | 454897 |
|  Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.90%), 5.748%, 7/6/34(k) | 500000 | 529850 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.07%), 5.323%, 7/8/36(k) | 200000 | 204990 |
|  NatWest Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.50%), 5.778%, 3/1/35(k) | 388000 | 408414 |
|  PNC Financial Services Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), 4.812%, 10/21/32(k) | 301000 | 304804 |

---

See Notes to Portfolio of Investments.

597

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 2.14%), 6.037%, 10/28/33(k) | $200000 | $215353 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.93%), 5.068%, 1/24/34(k) | 300000 | 305903 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.28%), 6.875%, 10/20/34(k) | 367000 | 416158 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.39%), 5.575%, 1/29/36(k) | 291000 | 303223 |
|  Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/1/33 | 250000 | 258501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 2/1/34(x) | 425000 | 441566 |
|  Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.424%, 7/9/31 | 414000 | 433183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.766%, 1/13/33 | 200000 | 213517 |
|  Toronto-Dominion Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 3/10/32 | 372000 | 345215 |
|  Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.24%), 4.916%, 7/28/33(k) | 350000 | 348219 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.36%), 5.867%, 6/8/34(k) | 300000 | 317598 |
|  US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.11%), 4.967%, 7/22/33(k) | 350000 | 351011 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.09%), 5.850%, 10/21/33(k) | 150000 | 159452 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.60%), 4.839%, 2/1/34(k) | 200000 | 200519 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.26%), 5.836%, 6/12/34(k) | 200000 | 212989 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.86%), 5.678%, 1/23/35(k) | 193000 | 203565 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.41%), 5.424%, 2/12/36(k) | 233000 | 240565 |
|  Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.10%), 4.897%, 7/25/33(k) | 902000 | 916765 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.99%), 5.557%, 7/25/34(k) | 458000 | 480176 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.06%), 6.491%, 10/23/34(k) | 375000 | 416004 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.78%), 5.499%, 1/23/35(k) | 269000 | 280187 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.74%), 5.605%, 4/23/36(k) | 562000 | 589194 |
|  Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 6/3/31 | 150000 | 134689 |
|  |  | 28558521 |
|  ***Capital Markets (3.2%)*** |  |  |
|  Bank of New York Mellon Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 7/28/31 | 250000 | 218795 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.23%), 5.060%, 7/22/32(k) | 295000 | 303907 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 2.07%), 5.834%, 10/25/33(k) | 200000 | 215424 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series J |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.61%), 4.967%, 4/26/34(k) | 200000 | 203186 |
|  BlackRock, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 1/28/31 | 173000 | 154400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/25/33 | 200000 | 204303 |
|  Blue Owl Credit Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.650%, 3/15/31 | 356000 | 373574 |
|  Blue Owl Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 2/15/32 | 328000 | 313224 |
|  Brookfield Capital Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.087%, 6/14/33 | 200000 | 215465 |
|  Charles Schwab Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.50%), 5.853%, 5/19/34(k) | 406000 | 434191 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.01%), 6.136%, 8/24/34(k) | 381000 | 414738 |
|  Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.04%), 3.547%, 9/18/31(k) | 500000 | 474365 |
|  Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.28%), 2.615%, 4/22/32(k) | 200000 | 181362 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.25%), 2.383%, 7/21/32(k) | 650000 | 580029 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), 2.650%, 10/21/32(k) | 403000 | 362732 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.41%), 3.102%, 2/24/33(k) | 678000 | 622090 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.55%), 5.330%, 7/23/35(k) | 716000 | 736421 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), 5.016%, 10/23/35(k) | 608000 | 611111 |
|  Intercontinental Exchange, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 3/15/33 | 300000 | 301213 |
|  Jefferies Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 4/14/34 | 322000 | 341054 |
|  Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.14%), 2.699%, 1/22/31(k) | 600000 | 560085 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.18%), 2.239%, 7/21/32(k) | 1599000 | 1410869 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.56%), 6.342%, 10/18/33(k) | 500000 | 549698 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.87%), 5.250%, 4/21/34(k) | 250000 | 257262 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.58%), 5.831%, 4/19/35(k) | 1291000 | 1370952 |
|  Nasdaq, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 2/15/34 | 383000 | 401868 |
|  Nomura Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.999%, 1/22/32 | 200000 | 180626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.783%, 7/3/34 | 365000 | 385451 |
|  S&P Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 3/1/32 | 450000 | 411335 |
|  State Street Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.05%), 4.675%, 10/22/32(k) | 377000 | 381451 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.73%), 4.164%, 8/4/33(k) | 200000 | 194978 |
|  |  | 13366159 |
|  ***Consumer Finance (2.1%)*** |  |  |
|  AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/15/31 | 181000 | 187220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 10/29/33 | 678000 | 607510 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.44%), 6.500%, 1/31/56(k) | 905000 | 933960 |
|  Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 11/1/31 | 195000 | 222279 |
|  American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.94%), 6.489%, 10/30/31(k) | 242000 | 265017 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.26%), 4.989%, 5/26/33(k) | 416000 | 423462 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), 5.284%, 7/26/35(k) | 209000 | 215348 |

---

See Notes to Portfolio of Investments.

598

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.79%), 5.667%, 4/25/36(k) | $376000 | $397662 |
|  American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/5/35 | 263000 | 266787 |
|  Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.07%), 7.624%, 10/30/31(k) | 248000 | 279899 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.37%), 5.268%, 5/10/33(k) | 488000 | 499211 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.86%), 6.377%, 6/8/34(k) | 200000 | 215843 |
|  Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/13/30 | 312000 | 290809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 3/5/31 | 750000 | 766920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.122%, 11/7/33 | 256000 | 273664 |
|  General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 2/8/31 | 400000 | 416482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 1/12/32 | 432000 | 389420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 4/4/34 | 339000 | 351631 |
|  John Deere Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 1/15/31 | 360000 | 315202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 9/8/31 | 152000 | 152855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 4/11/34 | 400000 | 413684 |
|  Toyota Motor Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 11/20/30 | 342000 | 362049 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 1/9/35 | 437000 | 456247 |
|  |  | 8703161 |
|  ***Financial Services (0.5%)*** |  |  |
|  Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 3/15/34 | 429000 | 443159 |
|  Mastercard, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/18/31 | 443000 | 391472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 3/9/33 | 194000 | 198536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 1/15/35 | 304000 | 303039 |
|  PayPal Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 6/1/32 | 296000 | 295713 |
|  Visa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.100%, 2/15/31 | 363000 | 311968 |
|  |  | 1943887 |
|  ***Insurance (0.9%)*** |  |  |
|  Aon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 2/28/33 | 358000 | 372761 |
|  Athene Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 1/15/34 | 249000 | 260321 |
|  Berkshire Hathaway Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 3/15/32 | 677000 | 633080 |
|  Chubb INA Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 9/15/30 | 335000 | 293467 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/15/34 | 287000 | 294267 |
|  MetLife, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 7/15/33 | 302000 | 317627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 12/15/34 | 363000 | 376792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 6/15/35 | 375000 | 401288 |
|  Progressive Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/15/32 | 168000 | 154834 |
|  Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 7/15/33 | 208000 | 225533 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.23%), 6.000%, 9/1/52(k) | 301000 | 313040 |
|  |  | 3643010 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 56214738 |
|  **Health Care (4.3%)** |  |  |
|  ***Biotechnology (0.9%)*** |  |  |
|  AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 3/15/34 | 137000 | 140832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 3/15/35 | 1004000 | 986205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/15/35 | 565000 | 584611 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/14/35 | 290000 | 284222 |
|  Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 1/15/32 | 362000 | 313512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/2/33 | 600000 | 620602 |
|  Gilead Sciences, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 10/1/30 | 484000 | 428857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/15/33 | 125000 | 130806 |
|  |  | 3489647 |
|  ***Health Care Equipment & Supplies (0.2%)*** |  |  |
|  Baxter International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.539%, 2/1/32 | 280000 | 245459 |
|  Becton Dickinson & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.957%, 2/11/31 | 50000 | 44023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.110%, 2/8/34 | 354000 | 361864 |
|  GE HealthCare Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.905%, 11/22/32 | 275000 | 295909 |
|  |  | 947255 |
|  ***Health Care Providers & Services (1.7%)*** |  |  |
|  Cardinal Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 11/15/34 | 226000 | 231839 |
|  Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/1/31 | 286000 | 246718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 8/1/31 | 267000 | 229817 |
|  Cigna Group (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 3/15/33 | 250000 | 260352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/15/34 | 360000 | 370299 |
|  CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/21/33 | 293000 | 299718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 6/1/34 | 273000 | 284736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 7/20/35 | 495000 | 480750 |
|  Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 3/15/31 | 200000 | 181498 |
|  HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/1/30 | 530000 | 506360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 3/15/32 | 300000 | 281164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 4/1/34 | 436000 | 452162 |
|  Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 4/15/31 | 367000 | 377251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 3/1/33 | 200000 | 209969 |
|  Laboratory Corp. of America Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 10/1/34 | 675000 | 668394 |
|  Quest Diagnostics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 11/30/33 | 269000 | 298066 |
|  UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 4/15/31(x) | 221000 | 226455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 5/15/31 | 375000 | 335448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 5/15/32 | 400000 | 393941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 2/15/33 | 250000 | 261185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/15/33 | 125000 | 123702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/15/34 | 346000 | 351027 |
|  |  | 7070851 |
|  ***Life Sciences Tools & Services (0.1%)*** |  |  |
|  Agilent Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 3/12/31 | 155000 | 139034 |
|  Thermo Fisher Scientific, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.086%, 8/10/33 | 350000 | 362723 |
|  |  | 501757 |
|  ***Pharmaceuticals (1.4%)*** |  |  |
|  Astrazeneca Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 3/3/33 | 760000 | 782670 |

---

See Notes to Portfolio of Investments.

599

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  Bristol-Myers Squibb Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 2/1/31 | $341000 | $364337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 3/15/32 | 670000 | 614183 |
|  Eli Lilly & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 2/12/35 | 1385000 | 1432316 |
|  Johnson & Johnson |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.300%, 9/1/30 | 150000 | 132578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 3/1/32 | 787000 | 817040 |
|  Merck & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 12/10/31 | 520000 | 458385 |
|  Pfizer Investment Enterprises Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/19/33 | 550000 | 554655 |
|  Pfizer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 8/18/31 | 378000 | 330541 |
|  Takeda Pharmaceutical Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 7/5/34 | 365000 | 375666 |
|  |  | 5862371 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 17871881 |
|  **Industrials (2.2%)** |  |  |
|  ***Aerospace & Defense (0.8%)*** |  |  |
|  Boeing Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 2/1/35 | 1501000 | 1300192 |
|  General Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 3/15/32 | 160000 | 181927 |
|  L3Harris Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 7/31/33 | 329000 | 342303 |
|  Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 12/15/31 | 173000 | 176920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 1/15/33(x) | 281000 | 294377 |
|  Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 3/15/33 | 300000 | 301721 |
|  RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 9/1/31 | 100000 | 86766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 2/27/33 | 541000 | 559439 |
|  |  | 3243645 |
|  ***Air Freight & Logistics (0.1%)*** |  |  |
|  FedEx Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 5/15/31 | 250000 | 224400 |
|  United Parcel Service, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 5/14/35 | 300000 | 309833 |
|  |  | 534233 |
|  ***Building Products (0.1%)*** |  |  |
|  Carrier Global Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 2/15/31 | 417000 | 382940 |
|  ***Commercial Services & Supplies (0.1%)*** |  |  |
|  Republic Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 3/1/30 | 225000 | 208011 |
|  Waste Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 4/15/32 | 367000 | 362322 |
|  |  | 570333 |
|  ***Ground Transportation (0.4%)*** |  |  |
|  Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 12/2/31 | 225000 | 199901 |
|  CSX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 11/15/32 | 225000 | 220686 |
|  Norfolk Southern Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/15/32 | 280000 | 257741 |
|  Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 9/15/34 | 296000 | 296292 |
|  Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/20/31 | 220000 | 200341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 2/14/32 | 400000 | 367070 |
|  |  | 1542031 |
|  ***Industrial Conglomerates (0.3%)*** |  |  |
|  3M Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/15/35 | 500000 | 511303 |
|  Honeywell International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 9/1/31 | 447000 | 386270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/15/33 | 225000 | 231155 |
|  |  | 1128728 |
|  ***Machinery (0.3%)*** |  |  |
|  Caterpillar, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 5/15/35 | 226000 | 233694 |
|  Cummins, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 9/1/30 | 183000 | 161883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 2/20/34 | 257000 | 266162 |
|  Deere & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 1/16/35 | 449000 | 471677 |
|  Ingersoll Rand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 8/14/33 | 320000 | 339118 |
|  |  | 1472534 |
|  ***Trading Companies & Distributors (0.1%)*** |  |  |
|  Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 1/15/32 | 284000 | 253954 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 9128398 |
|  **Information Technology (3.2%)** |  |  |
|  ***Communications Equipment (0.3%)*** |  |  |
|  Cisco Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 2/24/35 | 1009000 | 1041305 |
|  Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 4/15/34 | 336000 | 347898 |
|  |  | 1389203 |
|  ***IT Services (0.2%)*** |  |  |
|  IBM International Capital Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 2/5/34 | 595000 | 601889 |
|  International Business Machines Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/10/32 | 289000 | 297455 |
|  |  | 899344 |
|  ***Semiconductors & Semiconductor Equipment (1.2%)*** |  |  |
|  Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 11/15/30 | 200000 | 198898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 2/15/31§ | 500000 | 454460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 11/15/32 | 150000 | 148135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.419%, 4/15/33§ | 400000 | 369888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 10/15/34 | 1026000 | 1032170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 7/15/35 | 516000 | 531350 |
|  Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 8/5/32 | 200000 | 192866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 2/10/33(x) | 500000 | 510533 |
|  Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 2/9/33 | 329000 | 349347 |
|  NVIDIA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 6/15/31 | 430000 | 386504 |
|  NXP BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 2/15/32 | 267000 | 237131 |
|  QUALCOMM, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 5/20/32 | 188000 | 158739 |
|  Texas Instruments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 3/14/33 | 198000 | 203863 |
|  |  | 4773884 |
|  ***Software (0.9%)*** |  |  |
|  Intuit, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 9/15/33 | 329000 | 343300 |
|  Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 3/25/31 | 300000 | 275765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/3/32 | 147000 | 151284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 11/9/32 | 675000 | 733003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 9/27/34 | 1117000 | 1090126 |

---

See Notes to Portfolio of Investments.

600

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**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 2/15/31 | $200000 | $174389 |
|  Salesforce, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 7/15/31 | 313000 | 278028 |
|  ServiceNow, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.400%, 9/1/30 | 180000 | 157516 |
|  VMware LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 8/15/31 | 264000 | 232587 |
|  Workday, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 4/1/32 | 422000 | 402733 |
|  |  | 3838731 |
|  ***Technology Hardware, Storage & Peripherals (0.6%)*** |  |  |
|  Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 2/8/31 | 250000 | 221603 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/12/32 | 303000 | 309345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/12/35(x) | 519000 | 530197 |
|  Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 4/15/34 | 328000 | 338740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/1/35 | 226000 | 233470 |
|  Hewlett Packard Enterprise Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 10/15/31 | 368000 | 371754 |
|  NetApp, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/17/32 | 221000 | 229657 |
|  |  | 2234766 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 13135928 |
|  **Materials (0.4%)** |  |  |
|  ***Chemicals (0.2%)*** |  |  |
|  Air Products and Chemicals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/3/33 | 657000 | 669139 |
|  Dow Chemical Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 11/15/30 | 200000 | 176902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/1/34 | 239000 | 219675 |
|  |  | 1065716 |
|  ***Metals & Mining (0.2%)*** |  |  |
|  ArcelorMittal SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.800%, 11/29/32 | 317000 | 352221 |
|  BHP Billiton Finance USA Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 9/8/33 | 329000 | 342159 |
|  |  | 694380 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 1760096 |
|  **Real Estate (1.6%)** |  |  |
|  ***Diversified REITs (0.2%)*** |  |  |
|  Equinix Europe 2 Financing Corp. LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/15/34 | 356000 | 369613 |
|  Simon Property Group LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 2/1/31 | 412000 | 370411 |
|  VICI Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 5/15/32 | 279000 | 281550 |
|  |  | 1021574 |
|  ***Health Care REITs (0.1%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 8/15/31 | 200000 | 187118 |
|  Welltower OP LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 6/1/31 | 400000 | 368005 |
|  |  | 555123 |
|  ***Hotel & Resort REITs (0.2%)*** |  |  |
|  Host Hotels & Resorts LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 7/1/34 | 600000 | 613474 |
|  ***Industrial REITs (0.2%)*** |  |  |
|  Prologis LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/15/33 | 387000 | 390613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 1/15/34 | 358000 | 367900 |
|  |  | 758513 |
|  ***Office REITs (0.2%)*** |  |  |
|  Boston Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 1/30/31 | 461000 | 427686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 1/15/34 | 267000 | 287934 |
|  |  | 715620 |
|  ***Residential REITs (0.0%)†*** |  |  |
|  AvalonBay Communities, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 1/15/32 | 110000 | 96229 |
|  ***Retail REITs (0.1%)*** |  |  |
|  Realty Income Corp. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 1/15/31 | 250000 | 236649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 10/13/32 | 200000 | 211766 |
|  |  | 448415 |
|  ***Specialized REITs (0.6%)*** |  |  |
|  American Tower Corp. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 3/15/32 | 379000 | 366929 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 1/31/35 | 267000 | 275541 |
|  Crown Castle, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 1/15/31 | 250000 | 222361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 4/1/31 | 260000 | 227685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 3/1/34 | 198000 | 208029 |
|  Equinix, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/15/31 | 344000 | 310309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 4/15/32 | 150000 | 143749 |
|  Extra Space Storage LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.350%, 3/15/32 | 368000 | 319086 |
|  Public Storage Operating Co. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 8/1/33 | 230000 | 238542 |
|  Weyerhaeuser Co. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 3/15/32 | 206000 | 235436 |
|  |  | 2547667 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 6756615 |
|  **Utilities (3.1%)** |  |  |
|  ***Electric Utilities (2.5%)*** |  |  |
|  American Electric Power Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 3/1/33 | 300000 | 314938 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.68%), 6.950%, 12/15/54(k) | 160000 | 173212 |
|  Appalachian Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series AA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 4/1/31 | 200000 | 181992 |
|  CenterPoint Energy Houston Electric LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/1/34 | 260000 | 265885 |
|  DTE Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/1/34 | 271000 | 279808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 5/15/35 | 441000 | 452665 |
|  Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 6/15/31 | 400000 | 361307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/15/32 | 980000 | 972185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 6/15/34 | 242000 | 251016 |
|  Duke Energy Ohio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 6/15/35 | 439000 | 451609 |
|  Entergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 6/15/31 | 784000 | 699738 |
|  Eversource Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 8/15/30 | 400000 | 350909 |
|  Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 3/15/32 | 250000 | 233031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 3/15/33 | 292000 | 302324 |
|  Georgia Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 5/15/32 | 400000 | 404699 |
|  NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 2/28/33 | 200000 | 203777 |

---

See Notes to Portfolio of Investments.

601

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**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/15/34 | $720000 | $739161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 3/15/35 | 798000 | 825151 |
|  Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/1/31 | 200000 | 177876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 3/1/35 | 556000 | 570121 |
|  PPL Electric Utilities Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 2/15/34 | 395000 | 400398 |
|  Public Service Electric & Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 8/15/31 | 150000 | 131279 |
|  Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 11/1/32 | 150000 | 158068 |
|  Southern Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 3/15/35 | 311000 | 307373 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.07%), 6.375%, 3/15/55(k) | 498000 | 529301 |
|  Xcel Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 4/15/35 | 463000 | 479170 |
|  |  | 10216993 |
|  ***Gas Utilities (0.0%)†*** |  |  |
|  CenterPoint Energy Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 3/1/33 | 9000 | 9255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 7/1/34 | 277000 | 285246 |
|  |  | 294501 |
|  ***Multi-Utilities (0.6%)*** |  |  |
|  Ameren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/15/31 | 250000 | 238224 |
|  Consolidated Edison Co. of New York, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 6/15/31 | 390000 | 354700 |
|  Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 11/15/32 | 315000 | 326877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 3/15/35 | 373000 | 382480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 8/1/33 | 274000 | 281293 |
|  NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.53%), 6.375%, 3/31/55(k) | 302000 | 311815 |
|  Public Service Enterprise Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 11/15/31 | 100000 | 88441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 4/1/34 | 358000 | 369388 |
|  Sempra |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.63%), 6.400%, 10/1/54(k) | 90000 | 91575 |
|  |  | 2444793 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 12956287 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  | 160823698 |
|  **Total Long-Term Debt Securities (38.9%)**<br> *(Cost $157,166,864)* |  | 160823698 |
|  | **Number of**<br>**Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Health Care Equipment & Supplies (0.0%)†*** |  |  |
|  ABIOMED, Inc., CVR\*<br>*(Cost $121)* | 119 | 190 |
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (21.4%)** |  |  |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 1000000 | 1000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 623192 | 623192 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 86799942 | 86834662 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** | &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** | 88457854 |
|  **Total Short-Term Investments (21.4%)**<br> *(Cost $88,452,820)* |  | 88457854 |
|  **Total Investments in Securities (98.9%)**<br> *(Cost $335,451,703)* |  | 408734637 |
|  **Other Assets Less Liabilities (1.1%)** |  | 4634075 |
|  **Net Assets (100%)** |  | $413368712 |

---

*\** *Non-income producing.* 

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

---

| | |
|:---|:---|
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At September 30, 2025, the market value of these securities amounted to $824,348 or 0.2% of net assets.*  |

---

*(e)* *Step Bond - Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of September 30, 2025. Maturity date disclosed is the ultimate maturity date.* 

*(k)* *Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of September 30, 2025.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $1,663,478. This was collateralized by $76,345 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.250%, maturing 10/15/25 – 5/15/54 and by cash of $1,623,192 which was subsequently invested in investment companies.* 

See Notes to Portfolio of Investments.

602

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**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*Glossary:* 

*CME — Chicago Mercantile Exchange* 

*CVR — Contingent Value Right* 

*REIT — Real Estate Investment Trust* 

*SOFR — Secured Overnight Financing Rate* 

*USD — United States Dollar* 

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br>**Contracts** | **Expiration**<br>**Date** | **Trading**<br>**Currency** | **Notional**<br>**Amount ($)** | **Value and<br>Unrealized**<br>**Appreciation**<br>**(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  MSCI EAFE E-Mini Index | 479 | 12/2025 | USD | 66707935 | 173963 |
|  Russell 2000 E-Mini Index | 78 | 12/2025 | USD | 9576450 | 143087 |
|  S&P 500 E-Mini Index | 5 | 12/2025 | USD | 1684688 | 22564 |
|  S&P Midcap 400 E-Mini Index | 31 | 12/2025 | USD | 10187220 | (188395) |
|  |  |  |  |  | 151219 |

---

See Notes to Portfolio of Investments.

603

------

**EQ ADVISORS TRUST** 

EQ/INVESCO MODERATE GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $16170299 | $— | $— | $16170299 |
|  Consumer Discretionary | 16807510 |  |  | 16807510 |
|  Consumer Staples | 7827136 |  |  | 7827136 |
|  Energy | 4604172 |  |  | 4604172 |
|  Financials | 21568450 |  |  | 21568450 |
|  Health Care | 14126438 |  |  | 14126438 |
|  Industrials | 13216588 |  |  | 13216588 |
|  Information Technology | 55474903 |  |  | 55474903 |
|  Materials | 2828408 |  |  | 2828408 |
|  Real Estate | 3085871 |  |  | 3085871 |
|  Utilities | 3743120 |  |  | 3743120 |
|  **Corporate Bonds** |  |  |  |  |
|  Communication Services |  | 12575036 |  | 12575036 |
|  Consumer Discretionary |  | 6977928 |  | 6977928 |
|  Consumer Staples |  | 10601530 |  | 10601530 |
|  Energy |  | 12845261 |  | 12845261 |
|  Financials |  | 56214738 |  | 56214738 |
|  Health Care |  | 17871881 |  | 17871881 |
|  Industrials |  | 9128398 |  | 9128398 |
|  Information Technology |  | 13135928 |  | 13135928 |
|  Materials |  | 1760096 |  | 1760096 |
|  Real Estate |  | 6756615 |  | 6756615 |
|  Utilities |  | 12956287 |  | 12956287 |
|  **Futures** | 339614 |  |  | 339614 |
|  **Rights** |  |  |  |  |
|  Health Care |  | 190 |  | 190 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 88457854 |  |  | 88457854 |
|  **Total Assets** | $**248250363** | $**160823888** | $**—** | $**409074251** |
|  **Liabilities:** |  |  |  |  |
|  **Futures** | $(188395) | $— | $— | $(188395) |
|  **Total Liabilities** | $**(188395)** | $**—** | $**—** | $**(188395)** |
|  **Total** | $**248061968** | $**160823888** | $**—** | $**408885856** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $81317014 |
|  Aggregate gross unrealized depreciation | (4911520) |
|  Net unrealized appreciation | $76405494 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $332480362 |

---

See Notes to Portfolio of Investments.

604

------

**EQ ADVISORS TRUST** 

EQ/JANUS ENTERPRISE PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (2.7%)** |  |  |
|  ***Entertainment (2.4%)*** |  |  |
|  Liberty Media Corp.-Liberty Formula One, Class A\* | 44049 | $4194346 |
|  Liberty Media Corp.-Liberty Formula One, Class C\* | 295732 | 30889207 |
|  |  | 35083553 |
|  ***Interactive Media & Services (0.3%)*** |  |  |
|  Ziff Davis, Inc.\* | 101463 | 3865740 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 38949293 |
|  **Consumer Discretionary (7.4%)** |  |  |
|  ***Hotels, Restaurants & Leisure (3.8%)*** |  |  |
|  Aramark | 622982 | 23922509 |
|  DoorDash, Inc., Class A\* | 80636 | 21932186 |
|  Entain plc | 733186 | 8616208 |
|  |  | 54470903 |
|  ***Specialty Retail (2.2%)*** |  |  |
|  Burlington Stores, Inc.\* | 35347 | 8995811 |
|  CarMax, Inc.\* | 233099 | 10459152 |
|  Wayfair, Inc., Class A\* | 135717 | 12123600 |
|  |  | 31578563 |
|  ***Textiles, Apparel & Luxury Goods (1.4%)*** |  |  |
|  Gildan Activewear, Inc. | 364265 | 21054517 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 107103983 |
|  **Consumer Staples (0.6%)** |  |  |
|  ***Consumer Staples Distribution & Retail (0.6%)*** |  |  |
|  Dollar Tree, Inc.\* | 90752 | 8564266 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 8564266 |
|  **Energy (0.4%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (0.4%)*** |  |  |
|  ONEOK, Inc. | 73163 | 5338704 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 5338704 |
|  **Financials (11.7%)** |  |  |
|  ***Capital Markets (3.7%)*** |  |  |
|  Cboe Global Markets, Inc. | 40219 | 9863710 |
|  Charles Schwab Corp. (The) | 139424 | 13310809 |
|  LPL Financial Holdings, Inc. | 91570 | 30464423 |
|  |  | 53638942 |
|  ***Financial Services (2.5%)*** |  |  |
|  Global Payments, Inc. | 92166 | 7657151 |
|  WEX, Inc.\* | 179932 | 28344688 |
|  |  | 36001839 |
|  ***Insurance (5.5%)*** |  |  |
|  Intact Financial Corp. | 219032 | 42615000 |
|  W.R. Berkley Corp. | 303514 | 23255243 |
|  Willis Towers Watson plc | 39094 | 13505022 |
|  |  | 79375265 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 169016046 |
|  **Health Care (13.6%)** |  |  |
|  ***Biotechnology (3.1%)*** |  |  |
|  Argenx SE (ADR)\* | 20960 | 15459258 |
|  Ascendis Pharma A/S (ADR)\* | 62762 | 12477713 |
|  Avidity Biosciences, Inc.\* | 101739 | 4432768 |
|  Revolution Medicines, Inc.\* | 129247 | 6035835 |
|  Vaxcyte, Inc.\* | 186518 | 6718378 |
|  |  | 45123952 |
|  ***Health Care Equipment & Supplies (6.6%)*** |  |  |
|  Boston Scientific Corp.\* | 336654 | 32867530 |
|  Cooper Cos., Inc. (The)\* | 101516 | 6959937 |
|  Globus Medical, Inc., Class A\* | 134700 | 7714269 |
|  ICU Medical, Inc.\* | 87562 | 10503937 |
|  Lantheus Holdings, Inc.\* | 69957 | 3588095 |
|  STERIS plc | 46130 | 11414407 |
|  Teleflex, Inc. | 181222 | 22174324 |
|  |  | 95222499 |
|  ***Life Sciences Tools & Services (3.9%)*** |  |  |
|  Illumina, Inc.\* | 78351 | 7440995 |
|  Revvity, Inc. | 350105 | 30686703 |
|  Waters Corp.\* | 60021 | 17994896 |
|  |  | 56122594 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 196469045 |
|  **Industrials (25.6%)** |  |  |
|  ***Aerospace & Defense (0.6%)*** |  |  |
|  StandardAero, Inc.\* | 314528 | 8583469 |
|  ***Commercial Services & Supplies (5.0%)*** |  |  |
|  Cimpress plc\* | 130620 | 8234285 |
|  Clean Harbors, Inc.\* | 77397 | 17973131 |
|  RB Global, Inc. | 182103 | 19732681 |
|  Rentokil Initial plc | 1061395 | 5364433 |
|  Rentokil Initial plc (ADR)(x) | 401473 | 10137193 |
|  Veralto Corp. | 108002 | 11514093 |
|  |  | 72955816 |
|  ***Construction & Engineering (1.8%)*** |  |  |
|  API Group Corp.\* | 760916 | 26152683 |
|  ***Electrical Equipment (1.3%)*** |  |  |
|  Sensata Technologies Holding plc | 631285 | 19285757 |
|  ***Ground Transportation (2.3%)*** |  |  |
|  JB Hunt Transport Services, Inc. | 176764 | 23716426 |
|  TFI International, Inc. | 115860 | 10202632 |
|  |  | 33919058 |
|  ***Machinery (1.6%)*** |  |  |
|  Ingersoll Rand, Inc. | 276818 | 22870703 |
|  ***Passenger Airlines (1.5%)*** |  |  |
|  Ryanair Holdings plc (ADR) | 357840 | 21549125 |
|  ***Professional Services (8.8%)*** |  |  |
|  Broadridge Financial Solutions, Inc. | 121027 | 28825001 |
|  Dayforce, Inc.\* | 406357 | 27993934 |
|  SS&C Technologies Holdings, Inc. | 593003 | 52634946 |
|  TransUnion | 129454 | 10845656 |
|  UL Solutions, Inc., Class A | 88201 | 6249923 |
|  |  | 126549460 |
|  ***Trading Companies & Distributors (2.7%)*** |  |  |
|  Ferguson Enterprises, Inc. | 173285 | 38916345 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 370782416 |
|  **Information Technology (26.6%)** |  |  |
|  ***Electronic Equipment, Instruments & Components (8.1%)*** |  |  |
|  CDW Corp. | 82579 | 13153183 |
|  Flex Ltd.\* | 982400 | 56949728 |
|  TE Connectivity plc | 49926 | 10960255 |
|  Teledyne Technologies, Inc.\* | 60569 | 35495857 |
|  |  | 116559023 |
|  ***IT Services (1.2%)*** |  |  |
|  Amdocs Ltd. | 113613 | 9321947 |
|  GoDaddy, Inc., Class A\* | 53463 | 7315342 |
|  |  | 16637289 |
|  ***Semiconductors & Semiconductor Equipment (4.6%)*** |  |  |
|  KLA Corp. | 14388 | 15518897 |

---

See Notes to Portfolio of Investments.

605

------

**EQ ADVISORS TRUST** 

EQ/JANUS ENTERPRISE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  NXP Semiconductors NV | 122794 | $27963877 |
|  ON Semiconductor Corp.\* | 474806 | 23412684 |
|  |  | 66895458 |
|  ***Software (12.7%)*** |  |  |
|  AppLovin Corp., Class A\* | 100006 | 71858311 |
|  Constellation Software, Inc. | 18238 | 49509808 |
|  Descartes Systems Group, Inc. (The)\* | 71906 | 6775702 |
|  Dynatrace, Inc.\* | 103349 | 5007259 |
|  PTC, Inc.\* | 152014 | 30861882 |
|  Topicus.com, Inc.\* | 64624 | 6930468 |
|  Workday, Inc., Class A\* | 53760 | 12941645 |
|  |  | 183885075 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 383976845 |
|  **Materials (1.4%)** |  |  |
|  ***Chemicals (1.4%)*** |  |  |
|  Corteva, Inc. | 307920 | 20824630 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 20824630 |
|  **Real Estate (3.4%)** |  |  |
|  ***Industrial REITs (0.5%)*** |  |  |
|  Lineage, Inc. (REIT) | 164555 | 6358405 |
|  ***Real Estate Management & Development (1.8%)*** |  |  |
|  CoStar Group, Inc.\* | 241289 | 20357553 |
|  FirstService Corp. | 29317 | 5584595 |
|  |  | 25942148 |
|  ***Specialized REITs (1.1%)*** |  |  |
|  Lamar Advertising Co. (REIT), Class A | 133475 | 16340010 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 48640563 |
|  **Utilities (5.0%)** |  |  |
|  ***Electric Utilities (2.1%)*** |  |  |
|  Alliant Energy Corp. | 451247 | 30418560 |
|  ***Multi-Utilities (2.9%)*** |  |  |
|  Ameren Corp. | 213060 | 22239203 |
|  DTE Energy Co. | 136167 | 19258099 |
|  |  | 41497302 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 71915862 |
|  **Total Common Stocks (98.4%)**<br> *(Cost $939,844,897)* |  | 1421581653 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.2%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 2424240 | 2424240 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 989339 | 989735 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 3413975 |
|  **Total Short-Term Investments (0.2%)**<br> *(Cost $3,413,975)* |  | 3413975 |
|  **Total Investments in Securities (98.6%)**<br> *(Cost $943,258,872)* |  | 1424995628 |
|  **Other Assets Less Liabilities (1.4%)** |  | 20347003 |
|  **Net Assets (100%)** |  | $1445342631 |

---

*\** *Non-income producing.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $9,017,760. This was collateralized by $6,575,737 of various U.S. Government Treasury Securities, ranging from 0.000% – 4.875%, maturing 10/23/25 – 2/15/53 and by cash of $2,424,240 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*REIT — Real Estate Investment Trust* 

See Notes to Portfolio of Investments.

606

------

**EQ ADVISORS TRUST** 

EQ/JANUS ENTERPRISE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other**<br>**Observable Inputs**<br>**(including quoted prices**<br>**for similar securities,**<br>**interest rates,<br>prepayment speeds,**<br>**credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $38949293 | $— | $— | $38949293 |
|  Consumer Discretionary | 98487775 | 8616208 |  | 107103983 |
|  Consumer Staples | 8564266 |  |  | 8564266 |
|  Energy | 5338704 |  |  | 5338704 |
|  Financials | 169016046 |  |  | 169016046 |
|  Health Care | 196469045 |  |  | 196469045 |
|  Industrials | 365417983 | 5364433 |  | 370782416 |
|  Information Technology | 383976845 |  |  | 383976845 |
|  Materials | 20824630 |  |  | 20824630 |
|  Real Estate | 48640563 |  |  | 48640563 |
|  Utilities | 71915862 |  |  | 71915862 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 3413975 |  |  | 3413975 |
|  **Total Assets** | $**1411014987** | $**13980641** | $**—** | $**1424995628** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**1411014987** | $**13980641** | $**—** | $**1424995628** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $588483273 |
|  Aggregate gross unrealized depreciation | (107103646) |
|  Net unrealized appreciation | $481379627 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $943616001 |

---

See Notes to Portfolio of Investments.

607

------

**EQ ADVISORS TRUST** 

EQ/JPMORGAN GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (50.1%)** |  |  |
|  iShares Core S&P 500 ETF | 190818 | $127714487 |
|  iShares Russell 2000 ETF | 262635 | 63547165 |
|  SPDR Portfolio S&P 500 ETF | 1629182 | 127630118 |
|  Vanguard S&P 500 ETF | 221856 | 135860177 |
|  **Total Exchange Traded Funds (50.1%)<br>(***Cost $362,346,661)* |  | 454751947 |
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **U.S. Treasury Obligations (35.6%)** |  |  |
|  U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/31/26# | $9306200 | 9313763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/26 | 1100000 | 1110206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 10/31/26 | 1950000 | 1896732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 10/31/26 | 916000 | 895861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/26 | 1800000 | 1807968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/15/26 | 1440000 | 1412874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/15/26 | 1500000 | 1514735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 11/30/26 | 1500000 | 1458095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 11/30/26 | 500000 | 488258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/30/26 | 1800000 | 1811024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/15/26 | 1636000 | 1648979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 12/31/26 | 1930000 | 1872779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 12/31/26 | 917000 | 895372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/31/26 | 2000000 | 2013221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/15/27 | 1665000 | 1671440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 1/31/27 | 2356000 | 2289643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 1/31/27 | 2191000 | 2203255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 2/15/27 | 1358000 | 1332231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 2/15/27 | 1311000 | 1318689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 2/28/27 | 522000 | 503780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/28/27 | 1544000 | 1506000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 2/28/27 | 2017000 | 2029379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 3/15/27 | 1371000 | 1382177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 3/31/27 | 940000 | 898802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/31/27 | 1243000 | 1222119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3/31/27 | 2017000 | 2023310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/15/27 | 1888000 | 1911455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 4/30/27 | 700000 | 666538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 4/30/27 | 1458000 | 1438008 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/30/27 | 2016000 | 2019270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/27 | 1750000 | 1715025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/15/27 | 1434000 | 1452893 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 5/31/27 | 1231000 | 1169053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 5/31/27 | 1161000 | 1141860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 5/31/27 | 2289000 | 2297268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 6/15/27 | 1751000 | 1779031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 6/30/27 | 1144000 | 1083799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/30/27 | 1670000 | 1659221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 6/30/27 | 1676000 | 1679302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 7/15/27 | 1434000 | 1452265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 7/31/27 | 1331000 | 1254951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 7/31/27 | 1103000 | 1085849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/31/27 | 1675000 | 1682130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/15/27 | 1043000 | 1017290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/15/27 | 1977000 | 1981544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 8/31/27 | 861000 | 811659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 8/31/27 | 1561000 | 1546809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/31/27 | 1670000 | 1670199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 9/15/27 | 1439000 | 1432749 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 9/30/27 | 1458000 | 1367916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/30/27 | 1607000 | 1603861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 9/30/27 | 1339000 | 1352067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/15/27 | 1438000 | 1445512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 10/31/27 | 1424000 | 1335938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/27 | 1550000 | 1565858 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 11/15/27 | 1056000 | 1026802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/27 | 1717000 | 1734988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 11/30/27 | 1507000 | 1414360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/30/27 | 1290000 | 1297057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/15/27 | 1982000 | 1998773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 12/31/27 | 1925000 | 1802132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/31/27 | 1314000 | 1321443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/15/28 | 1444000 | 1464001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 1/31/28 | 1509000 | 1413203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/31/28 | 1034000 | 1031451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 2/15/28 | 2029000 | 1989032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/15/28 | 1440000 | 1460703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 2/29/28 | 1836000 | 1731500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/29/28 | 1034000 | 1043325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3/15/28 | 1717000 | 1728267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 3/31/28 | 1680000 | 1585958 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 3/31/28 | 1031000 | 1031492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/15/28 | 1928000 | 1934361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 4/30/28 | 1534000 | 1445316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/30/28 | 1509000 | 1504988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/28 | 2114000 | 2074704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 5/15/28 | 1438000 | 1442966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 5/31/28 | 2022000 | 1901156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5/31/28 | 1510000 | 1510490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/15/28 | 1500000 | 1510157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 6/30/28 | 1703000 | 1598293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/30/28 | 1032000 | 1042319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/15/28 | 1987000 | 2000350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 7/31/28 | 2093000 | 1946239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 7/31/28 | 1308000 | 1325571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 8/15/28 | 1578000 | 1545763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/15/28 | 1352000 | 1352367 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 8/31/28 | 1785000 | 1662384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/31/28 | 1114000 | 1136950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 9/15/28 | 1350000 | 1341035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 9/30/28 | 1501000 | 1400248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/28 | 1198000 | 1231949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 10/31/28 | 1406000 | 1314166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/28 | 1193000 | 1235779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 11/15/28 | 1772000 | 1745350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 11/30/28 | 1717000 | 1608017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/28 | 1885000 | 1926231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 12/31/28 | 1900000 | 1769339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/28 | 1889000 | 1895502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 1/31/29 | 1594000 | 1499952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/31/29 | 1521000 | 1537635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 2/15/29 | 1476000 | 1428622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/28/29 | 1508000 | 1422731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/28/29 | 1870000 | 1906077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 3/31/29 | 1602000 | 1535299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/31/29 | 2136000 | 2168857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 4/30/29 | 1034000 | 1006856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/30/29 | 1820000 | 1878161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/29 | 1691000 | 1617739 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 5/31/29 | 1449000 | 1403748 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/31/29 | 2044000 | 2101684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/30/29 | 1429000 | 1407965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 6/30/29 | 1769000 | 1804563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 7/31/29 | 862000 | 829672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/31/29 | 2265000 | 2290721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 8/15/29 | 1086000 | 1007649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 8/31/29 | 1326000 | 1299123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/31/29 | 2048000 | 2043336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/30/29 | 2344000 | 2328220 |

---

See Notes to Portfolio of Investments.

608

------

**EQ ADVISORS TRUST** 

EQ/JPMORGAN GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 9/30/29 | $1119000 | $1126836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/31/29 | 1091000 | 1103610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/29 | 1767000 | 1795546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 11/15/29 | 1259000 | 1168016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/30/29 | 1266000 | 1274485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/30/29 | 2046000 | 2079490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/31/29 | 1085000 | 1092374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/31/29 | 1710000 | 1754954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/31/30 | 1092000 | 1083126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/31/30 | 2044000 | 2088129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 2/15/30 | 1423000 | 1297930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/28/30 | 3229000 | 3267466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 3/31/30 | 1308000 | 1302983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/31/30 | 1766000 | 1786652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/30/30 | 881000 | 872947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 4/30/30 | 1763000 | 1774648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 5/15/30 | 2290000 | 1991183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 5/31/30 | 1292000 | 1293207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/31/30 | 2262000 | 2289085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 6/30/30 | 800000 | 800620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/30/30 | 1704000 | 1714805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/31/30 | 1703000 | 1713788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/31/30 | 1083000 | 1095512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 8/15/30 | 3001000 | 2587747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/31/30 | 1697000 | 1688809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 8/31/30 | 843000 | 857422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/30/30 | 1700000 | 1691766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/30 | 789000 | 820319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/30 | 1370000 | 1440536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 11/15/30 | 3127000 | 2712228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/30 | 1388000 | 1427691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/30 | 1227000 | 1226043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/31/31 | 1254000 | 1267617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 2/15/31 | 3241000 | 2832709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/28/31 | 990000 | 1012592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/31/31 | 1027000 | 1043845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/30/31 | 1330000 | 1384763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 5/15/31 | 2984000 | 2657691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 5/31/31 | 968000 | 1007931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 6/30/31 | 1062000 | 1085483 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 7/31/31 | 1585000 | 1609620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 8/15/31 | 3635000 | 3144811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/31/31 | 1588000 | 1581217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/30/31 | 1538000 | 1520274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/31 | 1339000 | 1358798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 11/15/31 | 3187000 | 2758688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/30/31 | 1338000 | 1357260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/31/31 | 1494000 | 1545964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 1/31/32 | 1338000 | 1375286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/15/32 | 2679000 | 2376914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 2/29/32 | 1516000 | 1536694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/31/32 | 1530000 | 1550563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/30/32 | 1336000 | 1344111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/32 | 2618000 | 2461191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 5/31/32 | 1575000 | 1595325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/30/32 | 958000 | 963164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/31/32 | 1581000 | 1588919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 8/15/32 | 2640000 | 2454576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/31/32 | 955000 | 952400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 9/30/32 | 950000 | 947031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/32 | 3075000 | 3110800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/15/33 | 2837000 | 2754551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 5/15/33 | 2541000 | 2440981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/33 | 2794000 | 2771533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/33 | 3235000 | 3344429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/15/34 | 3566000 | 3556444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/15/34 | 3153000 | 3225944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/34 | 3772000 | 3714635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/15/34 | 3765000 | 3807733 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/15/35 | 3402000 | 3535621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/35 | 3529000 | 3561463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 8/15/35 | 2019000 | 2035404 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 323530027 |
|  **Total Long-Term Debt Securities (35.6%)**<br> *(Cost $322,203,107)* |  | 323530027 |
|  **Total Investments in Securities (85.7%)**<br> *(Cost $684,549,768)* |  | 778281974 |
|  **Other Assets Less Liabilities (14.3%)** |  | 130193858 |
|  **Net Assets (100%)** |  | $908475832 |

---

*#* *All, or a portion of security held by broker as collateral for financial futures contracts, with a total collateral value of $8,594,979.* 

*Glossary:* 

*EUR — European Currency Unit* 

*GBP — British Pound* 

*JPY — Japanese Yen* 

See Notes to Portfolio of Investments.

609

------

**EQ ADVISORS TRUST** 

EQ/JPMORGAN GROWTH ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  EURO STOXX 50 Index | 977 | 12/2025 | EUR | 63557866 | 1057311 |
|  FTSE 100 Index | 217 | 12/2025 | GBP | 27455159 | 175861 |
|  TOPIX Index | 221 | 12/2025 | JPY | 46939243 | 609428 |
|  |  |  |  |  | 1842600 |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Exchange Traded Funds** | $454751947 | $— | $— | $454751947 |
|  **Futures** | 1842600 |  |  | 1842600 |
|  **U.S. Treasury Obligations** |  | 323530027 |  | 323530027 |
|  **Total Assets** | $**456594547** | $**323530027** | $**—** | $**780124574** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**456594547** | $**323530027** | $**—** | $**780124574** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $105963621 |
|  Aggregate gross unrealized depreciation | (4576) |
|  Net unrealized appreciation | $105959045 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $674165529 |

---

See Notes to Portfolio of Investments.

610

------

**EQ ADVISORS TRUST** 

EQ/JPMORGAN GROWTH STOCK PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (12.7%)** |  |  |
|  ***Entertainment (3.1%)*** |  |  |
|  Netflix, Inc.\* | 49537 | $59390900 |
|  ROBLOX Corp., Class A\* | 224648 | 31118241 |
|  Spotify Technology SA\* | 8490 | 5926020 |
|  |  | 96435161 |
|  ***Interactive Media & Services (9.6%)*** |  |  |
|  Alphabet, Inc., Class C | 626667 | 152624748 |
|  Meta Platforms, Inc., Class A | 192195 | 141144164 |
|  |  | 293768912 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 390204073 |
|  **Consumer Discretionary (14.6%)** |  |  |
|  ***Automobiles (3.5%)*** |  |  |
|  Tesla, Inc.\* | 236594 | 105218084 |
|  ***Broadline Retail (6.6%)*** |  |  |
|  Alibaba Group Holding Ltd. (ADR) | 168592 | 30132448 |
|  Amazon.com, Inc.\* | 518096 | 113758339 |
|  MercadoLibre, Inc.\* | 11692 | 27323503 |
|  Sea Ltd. (ADR)\* | 164595 | 29418064 |
|  |  | 200632354 |
|  ***Hotels, Restaurants & Leisure (3.0%)*** |  |  |
|  Booking Holdings, Inc. | 5046 | 27244716 |
|  DoorDash, Inc., Class A\* | 185612 | 50484608 |
|  McDonald's Corp. | 48255 | 14664212 |
|  |  | 92393536 |
|  ***Household Durables (0.4%)*** |  |  |
|  DR Horton, Inc. | 79491 | 13471340 |
|  ***Specialty Retail (1.1%)*** |  |  |
|  AutoZone, Inc.\* | 2323 | 9966227 |
|  Carvana Co.\* | 64834 | 24457978 |
|  |  | 34424205 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 446139519 |
|  **Consumer Staples (3.8%)** |  |  |
|  ***Beverages (0.6%)*** |  |  |
|  Coca-Cola Co. (The) | 257894 | 17103530 |
|  ***Consumer Staples Distribution & Retail (1.7%)*** |  |  |
|  Walmart, Inc. | 518712 | 53458459 |
|  ***Tobacco (1.5%)*** |  |  |
|  Philip Morris International, Inc. | 282322 | 45792628 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 116354617 |
|  **Energy (0.3%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (0.3%)*** |  |  |
|  Cheniere Energy, Inc. | 35120 | 8252498 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 8252498 |
|  **Financials (7.8%)** |  |  |
|  ***Capital Markets (3.8%)*** |  |  |
|  Blackstone, Inc. | 70280 | 12007338 |
|  Charles Schwab Corp. (The) | 187654 | 17915327 |
|  Goldman Sachs Group, Inc. (The) | 50137 | 39926600 |
|  Intercontinental Exchange, Inc. | 43209 | 7279852 |
|  KKR & Co., Inc. | 24748 | 3216003 |
|  Robinhood Markets, Inc., Class A\* | 244199 | 34964413 |
|  |  | 115309533 |
|  ***Consumer Finance (0.6%)*** |  |  |
|  SoFi Technologies, Inc.\* | 665808 | 17590647 |
|  ***Financial Services (3.4%)*** |  |  |
|  Berkshire Hathaway, Inc., Class B\* | 21705 | 10911972 |
|  Mastercard, Inc., Class A | 147128 | 83687878 |
|  Visa, Inc., Class A | 30074 | 10266662 |
|  |  | 104866512 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 237766692 |
|  **Health Care (5.8%)** |  |  |
|  ***Biotechnology (3.8%)*** |  |  |
|  AbbVie, Inc. | 108123 | 25034800 |
|  Alnylam Pharmaceuticals, Inc.\* | 34399 | 15685944 |
|  Gilead Sciences, Inc. | 160984 | 17869224 |
|  Insmed, Inc.\* | 258415 | 37214344 |
|  Natera, Inc.\* | 117294 | 18880815 |
|  |  | 114685127 |
|  ***Health Care Equipment & Supplies (0.8%)*** |  |  |
|  Abbott Laboratories | 182048 | 24383509 |
|  Intuitive Surgical, Inc.\* | 3003 | 1343032 |
|  |  | 25726541 |
|  ***Health Care Providers & Services (0.8%)*** |  |  |
|  Hims & Hers Health, Inc.\* | 217048 | 12310963 |
|  McKesson Corp. | 16899 | 13055153 |
|  |  | 25366116 |
|  ***Pharmaceuticals (0.4%)*** |  |  |
|  Eli Lilly & Co. | 1962 | 1497006 |
|  Johnson & Johnson | 49016 | 9088546 |
|  |  | 10585552 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 176363336 |
|  **Industrials (6.3%)** |  |  |
|  ***Aerospace & Defense (1.8%)*** |  |  |
|  GE Aerospace | 112248 | 33766443 |
|  RTX Corp. | 73724 | 12336237 |
|  TransDigm Group, Inc. | 6527 | 8602717 |
|  |  | 54705397 |
|  ***Building Products (0.3%)*** |  |  |
|  Trane Technologies plc | 21384 | 9023192 |
|  ***Construction & Engineering (0.5%)*** |  |  |
|  Quanta Services, Inc. | 36802 | 15251485 |
|  ***Electrical Equipment (1.2%)*** |  |  |
|  Eaton Corp. plc | 5006 | 1873496 |
|  GE Vernova, Inc. | 58818 | 36167188 |
|  |  | 38040684 |
|  ***Ground Transportation (0.9%)*** |  |  |
|  Uber Technologies, Inc.\* | 279559 | 27388395 |
|  ***Industrial Conglomerates (1.3%)*** |  |  |
|  3M Co. | 250566 | 38882832 |
|  ***Machinery (0.3%)*** |  |  |
|  Deere & Co. | 21224 | 9704886 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 192996871 |
|  **Information Technology (45.0%)** |  |  |
|  ***Communications Equipment (0.5%)*** |  |  |
|  Arista Networks, Inc.\* | 109725 | 15988030 |
|  ***Electronic Equipment, Instruments & Components (1.0%)*** |  |  |
|  Amphenol Corp., Class A | 155017 | 19183353 |
|  Celestica, Inc.\* | 41768 | 10290800 |
|  |  | 29474153 |
|  ***IT Services (3.8%)*** |  |  |
|  Cloudflare, Inc., Class A\* | 108083 | 23193531 |

---

See Notes to Portfolio of Investments.

611

------

**EQ ADVISORS TRUST** 

EQ/JPMORGAN GROWTH STOCK PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  International Business Machines Corp. | 142683 | $40259435 |
|  Shopify, Inc., Class A\* | 259056 | 38498312 |
|  Snowflake, Inc., Class A\* | 33718 | 7605095 |
|  Twilio, Inc., Class A\* | 71417 | 7148128 |
|  |  | 116704501 |
|  ***Semiconductors & Semiconductor Equipment (16.6%)*** |  |  |
|  Broadcom, Inc. | 498845 | 164573954 |
|  Lam Research Corp. | 14416 | 1930303 |
|  NVIDIA Corp. | 1712883 | 319589710 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. (ADR) | 73284 | 20467488 |
|  |  | 506561455 |
|  ***Software (16.7%)*** |  |  |
|  AppLovin Corp., Class A\* | 41607 | 29896294 |
|  Crowdstrike Holdings, Inc., Class A\* | 30475 | 14944331 |
|  Intuit, Inc. | 33799 | 23081675 |
|  Microsoft Corp. | 548476 | 284083144 |
|  Oracle Corp. | 282952 | 79577420 |
|  Palantir Technologies, Inc., Class A\* | 221253 | 40360972 |
|  Palo Alto Networks, Inc.\* | 72643 | 14791568 |
|  ServiceNow, Inc.\* | 26767 | 24633135 |
|  |  | 511368539 |
|  ***Technology Hardware, Storage & Peripherals (6.4%)*** |  |  |
|  Apple, Inc. | 774081 | 197104245 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 1377200923 |
|  **Utilities (0.3%)** |  |  |
|  ***Independent Power and Renewable Electricity Producers (0.3%)*** |  |  |
|  Vistra Corp. | 50297 | 9854188 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 9854188 |
|  **Total Common Stocks (96.6%)**<br> *(Cost $1,500,132,173)* |  | 2955132717 |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (2.1%)** |  |  |
|  Invesco QQQ Trust | 106967 | 64219778 |
|  **Total Exchange Traded Funds (2.1%)**<br> *(Cost $56,638,292)* |  | 64219778 |
|  **Total Investments in Securities (98.7%)**<br> *(Cost $1,556,770,465)* |  | 3019352495 |
|  **Other Assets Less Liabilities (1.3%)** |  | 38502043 |
|  **Net Assets (100%)** |  | $3057854538 |

---

See Notes to Portfolio of Investments.

612

------

**EQ ADVISORS TRUST** 

EQ/JPMORGAN GROWTH STOCK PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $390204073 | $— | $— | $390204073 |
|  Consumer Discretionary | 446139519 |  |  | 446139519 |
|  Consumer Staples | 116354617 |  |  | 116354617 |
|  Energy | 8252498 |  |  | 8252498 |
|  Financials | 237766692 |  |  | 237766692 |
|  Health Care | 176363336 |  |  | 176363336 |
|  Industrials | 192996871 |  |  | 192996871 |
|  Information Technology | 1377200923 |  |  | 1377200923 |
|  Utilities | 9854188 |  |  | 9854188 |
|  **Exchange Traded Fund** | 64219778 |  |  | 64219778 |
|  **Total Assets** | $**3019352495** | $**—** | $**—** | $**3019352495** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**3019352495** | $**—** | $**—** | $**3019352495** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $1466572670 |
|  Aggregate gross unrealized depreciation | (4713847) |
|  Net unrealized appreciation | $1461858823 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1557493672 |

---

See Notes to Portfolio of Investments.

613

------

**EQ ADVISORS TRUST** 

EQ/JPMORGAN VALUE OPPORTUNITIES PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (6.5%)** |  |  |
|  ***Diversified Telecommunication Services (2.2%)*** |  |  |
|  AT&T, Inc. | 466649 | $13178168 |
|  Verizon Communications, Inc. | 306937 | 13489881 |
|  |  | 26668049 |
|  ***Entertainment (1.2%)*** |  |  |
|  Walt Disney Co. (The) | 129494 | 14827063 |
|  ***Interactive Media & Services (3.1%)*** |  |  |
|  Alphabet, Inc., Class C | 153590 | 37406844 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 78901956 |
|  **Consumer Discretionary (7.4%)** |  |  |
|  ***Automobile Components (0.3%)*** |  |  |
|  Gentex Corp. | 130767 | 3700706 |
|  ***Automobiles (0.6%)*** |  |  |
|  General Motors Co. | 128534 | 7836718 |
|  ***Broadline Retail (2.8%)*** |  |  |
|  Alibaba Group Holding Ltd. (ADR) | 41972 | 7501656 |
|  Amazon.com, Inc.\* | 119551 | 26249813 |
|  |  | 33751469 |
|  ***Hotels, Restaurants & Leisure (1.4%)*** |  |  |
|  Carnival Corp.\* | 246736 | 7133138 |
|  Darden Restaurants, Inc. | 49695 | 9459940 |
|  |  | 16593078 |
|  ***Household Durables (1.2%)*** |  |  |
|  Lennar Corp., Class A | 113194 | 14266972 |
|  ***Textiles, Apparel & Luxury Goods (1.1%)*** |  |  |
|  Kontoor Brands, Inc. | 169638 | 13532023 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 89680966 |
|  **Consumer Staples (3.9%)** |  |  |
|  ***Consumer Staples Distribution & Retail (1.2%)*** |  |  |
|  BJ's Wholesale Club Holdings, Inc.\* | 62489 | 5827099 |
|  Performance Food Group Co.\* | 86675 | 9017667 |
|  |  | 14844766 |
|  ***Tobacco (2.7%)*** |  |  |
|  Philip Morris International, Inc. | 200478 | 32517532 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 47362298 |
|  **Energy (5.5%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (5.5%)*** |  |  |
|  ConocoPhillips | 52257 | 4942990 |
|  EOG Resources, Inc. | 120340 | 13492521 |
|  EQT Corp. | 305838 | 16646762 |
|  Equinor ASA (ADR) | 243858 | 5945258 |
|  Expand Energy Corp. | 95106 | 10104061 |
|  Exxon Mobil Corp. | 43244 | 4875761 |
|  Range Resources Corp. | 265494 | 9993194 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 66000547 |
|  **Financials (17.1%)** |  |  |
|  ***Banks (12.2%)*** |  |  |
|  Bank of America Corp. | 856604 | 44192200 |
|  Comerica, Inc. | 111501 | 7640049 |
|  Fifth Third Bancorp | 335857 | 14962429 |
|  First Citizens BancShares, Inc., Class A | 12535 | 22427121 |
|  First Horizon Corp. | 300877 | 6802829 |
|  US Bancorp | 291346 | 14080752 |
|  Wells Fargo & Co. | 447164 | 37481286 |
|  |  | 147586666 |
|  ***Capital Markets (0.4%)*** |  |  |
|  Jefferies Financial Group, Inc. | 72949 | 4772324 |
|  ***Consumer Finance (1.2%)*** |  |  |
|  American Express Co. | 43352 | 14399800 |
|  ***Financial Services (2.7%)*** |  |  |
|  Berkshire Hathaway, Inc., Class B\* | 24439 | 12286463 |
|  Corpay, Inc.\* | 14163 | 4079794 |
|  Fiserv, Inc.\* | 78950 | 10179023 |
|  MGIC Investment Corp. | 219870 | 6237712 |
|  |  | 32782992 |
|  ***Insurance (0.6%)*** |  |  |
|  Arch Capital Group Ltd. | 78850 | 7154061 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 206695843 |
|  **Health Care (16.0%)** |  |  |
|  ***Biotechnology (3.0%)*** |  |  |
|  AbbVie, Inc. | 58687 | 13588388 |
|  Biogen, Inc.\* | 33533 | 4697303 |
|  Regeneron Pharmaceuticals, Inc. | 16422 | 9233598 |
|  Vertex Pharmaceuticals, Inc.\* | 22682 | 8883178 |
|  |  | 36402467 |
|  ***Health Care Equipment & Supplies (1.3%)*** |  |  |
|  Medtronic plc | 161211 | 15353736 |
|  ***Health Care Providers & Services (8.0%)*** |  |  |
|  Cardinal Health, Inc. | 32188 | 5052229 |
|  Cencora, Inc. | 13365 | 4176963 |
|  Cigna Group (The) | 53449 | 15406674 |
|  Elevance Health, Inc. | 29269 | 9457399 |
|  Humana, Inc. | 118319 | 30783054 |
|  Labcorp Holdings, Inc. | 29219 | 8387606 |
|  Quest Diagnostics, Inc. | 38182 | 7276726 |
|  UnitedHealth Group, Inc. | 47697 | 16469774 |
|  |  | 97010425 |
|  ***Pharmaceuticals (3.7%)*** |  |  |
|  Bristol-Myers Squibb Co. | 168333 | 7591818 |
|  Johnson & Johnson | 124994 | 23176388 |
|  Merck & Co., Inc. | 84663 | 7105766 |
|  Novo Nordisk A/S (ADR) | 126623 | 7026310 |
|  |  | 44900282 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 193666910 |
|  **Industrials (14.0%)** |  |  |
|  ***Aerospace & Defense (3.1%)*** |  |  |
|  Boeing Co. (The)\* | 68896 | 14869824 |
|  RTX Corp. | 123719 | 20701900 |
|  Textron, Inc. | 13649 | 1153204 |
|  |  | 36724928 |
|  ***Building Products (1.0%)*** |  |  |
|  Carrier Global Corp. | 208628 | 12455092 |
|  ***Electrical Equipment (2.0%)*** |  |  |
|  Emerson Electric Co. | 187823 | 24638621 |
|  ***Industrial Conglomerates (0.7%)*** |  |  |
|  3M Co. | 56730 | 8803361 |
|  ***Machinery (3.6%)*** |  |  |
|  AGCO Corp. | 77186 | 8264305 |
|  Cummins, Inc. | 25538 | 10786485 |
|  Flowserve Corp. | 234405 | 12456282 |

---

See Notes to Portfolio of Investments.

614

------

**EQ ADVISORS TRUST** 

EQ/JPMORGAN VALUE OPPORTUNITIES PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Gates Industrial Corp. plc\* | 457087 | $11344899 |
|  |  | 42851971 |
|  ***Passenger Airlines (1.8%)*** |  |  |
|  Delta Air Lines, Inc. | 101765 | 5775164 |
|  Southwest Airlines Co. | 481643 | 15369228 |
|  |  | 21144392 |
|  ***Trading Companies & Distributors (1.8%)*** |  |  |
|  AerCap Holdings NV | 143246 | 17332766 |
|  WESCO International, Inc. | 21446 | 4535829 |
|  |  | 21868595 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 168486960 |
|  **Information Technology (14.2%)** |  |  |
|  ***Electronic Equipment, Instruments & Components (3.9%)*** |  |  |
|  CDW Corp. | 53354 | 8498225 |
|  Corning, Inc. | 291954 | 23948987 |
|  TD SYNNEX Corp. | 91711 | 15017676 |
|  |  | 47464888 |
|  ***IT Services (0.1%)*** |  |  |
|  Accenture plc, Class A | 7575 | 1867995 |
|  ***Semiconductors & Semiconductor Equipment (2.6%)*** |  |  |
|  ASML Holding NV (Registered) (NYRS) | 5453 | 5278995 |
|  NXP Semiconductors NV | 63165 | 14384566 |
|  ON Semiconductor Corp.\* | 99685 | 4915467 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. (ADR) | 23838 | 6657715 |
|  |  | 31236743 |
|  ***Software (0.5%)*** |  |  |
|  Salesforce, Inc. | 23937 | 5673069 |
|  ***Technology Hardware, Storage & Peripherals (7.1%)*** |  |  |
|  Hewlett Packard Enterprise Co. | 309155 | 7592847 |
|  Sandisk Corp.\* | 74551 | 8364622 |
|  Seagate Technology Holdings plc | 98754 | 23311869 |
|  Western Digital Corp. | 386138 | 46359728 |
|  |  | 85629066 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 171871761 |
|  **Materials (7.1%)** |  |  |
|  ***Chemicals (2.0%)*** |  |  |
|  Chemours Co. (The) | 466820 | 7394429 |
|  FMC Corp. | 494134 | 16617726 |
|  |  | 24012155 |
|  ***Construction Materials (0.9%)*** |  |  |
|  Amrize Ltd.\* | 167075 | 8108150 |
|  James Hardie Industries plc (ADR)\* | 157635 | 3028168 |
|  |  | 11136318 |
|  ***Containers & Packaging (1.6%)*** |  |  |
|  Ball Corp. | 267898 | 13507417 |
|  Graphic Packaging Holding Co. | 176350 | 3451170 |
|  Silgan Holdings, Inc. | 66391 | 2855477 |
|  |  | 19814064 |
|  ***Metals & Mining (2.6%)*** |  |  |
|  Alcoa Corp. | 133314 | 4384697 |
|  Cleveland-Cliffs, Inc.\* | 367217 | 4480047 |
|  Freeport-McMoRan, Inc. | 260221 | 10205868 |
|  Newmont Corp. | 62589 | 5276879 |
|  Rio Tinto plc (ADR) | 104358 | 6888672 |
|  |  | 31236163 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 86198700 |
|  **Real Estate (3.2%)** |  |  |
|  ***Health Care REITs (1.0%)*** |  |  |
|  Ventas, Inc. (REIT) | 167122 | 11696869 |
|  ***Real Estate Management & Development (0.1%)*** |  |  |
|  Zillow Group, Inc., Class C\* | 21805 | 1680075 |
|  ***Specialized REITs (2.1%)*** |  |  |
|  Equinix, Inc. (REIT) | 31472 | 24650129 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 38027073 |
|  **Utilities (4.2%)** |  |  |
|  ***Electric Utilities (2.7%)*** |  |  |
|  NextEra Energy, Inc. | 119727 | 9038191 |
|  PG&E Corp. | 197928 | 2984754 |
|  Southern Co. (The) | 216419 | 20510029 |
|  |  | 32532974 |
|  ***Multi-Utilities (1.3%)*** |  |  |
|  Dominion Energy, Inc. | 255869 | 15651507 |
|  ***Water Utilities (0.2%)*** |  |  |
|  Essential Utilities, Inc. | 59137 | 2359566 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 50544047 |
|  **Total Common Stocks (99.1%)**<br> *(Cost $1,022,673,368)* |  | 1197437061 |
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **U.S. Government Agency Securities (1.5%**) |  |  |
|  FHLB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 10/1/25(o)(p) | $18395000 | 18395000 |
|  **Total Short-Term Investments (1.5%)**<br> *(Cost $18,395,000)* |  | 18395000 |
|  **Total Investments in Securities (100.6%)**<br> *(Cost $1,041,068,368)* |  | 1215832061 |
|  **Other Assets Less Liabilities (-0.6%)** |  | (7766284) |
|  **Net Assets (100%)** |  | $1208065777 |

---

*\** *Non-income producing.* 

*(o)* *Discount Note Security. Effective rate calculated as of September 30, 2025.* 

*(p)* *Yield to maturity.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*FHLB — Federal Home Loan Bank* 

*NYRS — New York Registry Shares* 

*REIT — Real Estate Investment Trust* 

See Notes to Portfolio of Investments.

615

------

**EQ ADVISORS TRUST** 

EQ/JPMORGAN VALUE OPPORTUNITIES PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $78901956 | $— | $— | $78901956 |
|  Consumer Discretionary | 89680966 |  |  | 89680966 |
|  Consumer Staples | 47362298 |  |  | 47362298 |
|  Energy | 66000547 |  |  | 66000547 |
|  Financials | 206695843 |  |  | 206695843 |
|  Health Care | 193666910 |  |  | 193666910 |
|  Industrials | 168486960 |  |  | 168486960 |
|  Information Technology | 171871761 |  |  | 171871761 |
|  Materials | 86198700 |  |  | 86198700 |
|  Real Estate | 38027073 |  |  | 38027073 |
|  Utilities | 50544047 |  |  | 50544047 |
|  **Short-Term Investments** |  |  |  |  |
|  U.S. Government Agency Securities |  | 18395000 |  | 18395000 |
|  **Total Assets** | $**1197437061** | $**18395000** | $**—** | $**1215832061** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**1197437061** | $**18395000** | $**—** | $**1215832061** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $203858339 |
|  Aggregate gross unrealized depreciation | (30452263) |
|  Net unrealized appreciation | $173406076 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1042425985 |

---

See Notes to Portfolio of Investments.

616

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (9.3%)** |  |  |
|  ***Diversified Telecommunication Services (1.5%)*** |  |  |
|  AT&T, Inc. | 581021 | $16408033 |
|  Verizon Communications, Inc. | 292038 | 12835070 |
|  |  | 29243103 |
|  ***Entertainment (1.5%)*** |  |  |
|  Electronic Arts, Inc. | 3967 | 800144 |
|  Live Nation Entertainment, Inc.\* | 2834 | 463075 |
|  Netflix, Inc.\* | 10091 | 12098302 |
|  Spotify Technology SA\* | 10145 | 7081210 |
|  Take-Two Interactive Software, Inc.\* | 3048 | 787481 |
|  TKO Group Holdings, Inc., Class A | 1155 | 233264 |
|  Walt Disney Co. (The) | 67784 | 7761268 |
|  Warner Bros Discovery, Inc.\* | 43877 | 856918 |
|  |  | 30081662 |
|  ***Interactive Media & Services (5.9%)*** |  |  |
|  Alphabet, Inc., Class A | 150402 | 36562726 |
|  Alphabet, Inc., Class C | 114115 | 27792708 |
|  Match Group, Inc. | 3917 | 138348 |
|  Meta Platforms, Inc., Class A | 68576 | 50360843 |
|  Pinterest, Inc., Class A\* | 24780 | 797173 |
|  |  | 115651798 |
|  ***Media (0.3%)*** |  |  |
|  Charter Communications, Inc., Class A\* | 5980 | 1645128 |
|  Comcast Corp., Class A | 65268 | 2050721 |
|  Fox Corp., Class A | 3626 | 228655 |
|  Fox Corp., Class B | 2299 | 131710 |
|  Interpublic Group of Cos., Inc. (The) | 5966 | 166511 |
|  News Corp., Class A | 7098 | 217979 |
|  News Corp., Class B | 1843 | 63676 |
|  Omnicom Group, Inc. | 3564 | 290573 |
|  Paramount Skydance Corp., Class B(x) | 4657 | 88110 |
|  Trade Desk, Inc. (The), Class A\* | 7952 | 389728 |
|  |  | 5272791 |
|  ***Wireless Telecommunication Services (0.1%)*** |  |  |
|  T-Mobile US, Inc. | 8634 | 2066807 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 182316161 |
|  **Consumer Discretionary (7.5%)** |  |  |
|  ***Automobile Components (0.0%)†*** |  |  |
|  Aptiv plc\* | 3830 | 330223 |
|  ***Automobiles (1.2%)*** |  |  |
|  Ford Motor Co. | 69212 | 827775 |
|  General Motors Co. | 16873 | 1028747 |
|  Tesla, Inc.\* | 49732 | 22116815 |
|  |  | 23973337 |
|  ***Broadline Retail (2.9%)*** |  |  |
|  Amazon.com, Inc.\* | 256157 | 56244392 |
|  eBay, Inc. | 8060 | 733057 |
|  |  | 56977449 |
|  ***Distributors (0.0%)†*** |  |  |
|  Genuine Parts Co. | 2563 | 355232 |
|  LKQ Corp. | 4953 | 151265 |
|  Pool Corp. | 566 | 175499 |
|  |  | 681996 |
|  ***Hotels, Restaurants & Leisure (1.4%)*** |  |  |
|  Airbnb, Inc., Class A\* | 7531 | 914414 |
|  Booking Holdings, Inc. | 795 | 4292420 |
|  Carnival Corp.\* | 19137 | 553251 |
|  Chipotle Mexican Grill, Inc.\* | 49581 | 1943079 |
|  Darden Restaurants, Inc. | 2034 | 387192 |
|  Domino's Pizza, Inc. | 542 | 233987 |
|  DoorDash, Inc., Class A\* | 6560 | 1784254 |
|  Expedia Group, Inc. | 2095 | 447806 |
|  Hilton Worldwide Holdings, Inc. | 4168 | 1081346 |
|  Las Vegas Sands Corp. | 5474 | 294447 |
|  Marriott International, Inc., Class A | 10838 | 2822649 |
|  McDonald's Corp. | 12647 | 3843297 |
|  MGM Resorts International\* | 4085 | 141586 |
|  Norwegian Cruise Line Holdings Ltd.\* | 7870 | 193838 |
|  Royal Caribbean Cruises Ltd. | 16330 | 5284061 |
|  Starbucks Corp. | 20145 | 1704267 |
|  Wynn Resorts Ltd. | 1572 | 201640 |
|  Yum! Brands, Inc. | 13458 | 2045616 |
|  |  | 28169150 |
|  ***Household Durables (0.4%)*** |  |  |
|  DR Horton, Inc. | 4863 | 824133 |
|  Garmin Ltd. | 2853 | 702466 |
|  Lennar Corp., Class A | 4032 | 508193 |
|  Mohawk Industries, Inc.\* | 1012 | 130467 |
|  NVR, Inc.\* | 49 | 393698 |
|  PulteGroup, Inc. | 3508 | 463512 |
|  TopBuild Corp.\* | 10065 | 3934006 |
|  |  | 6956475 |
|  ***Leisure Products (0.0%)†*** |  |  |
|  Hasbro, Inc. | 2313 | 175441 |
|  ***Specialty Retail (1.4%)*** |  |  |
|  AutoZone, Inc.\* | 294 | 1261331 |
|  Best Buy Co., Inc. | 3309 | 250227 |
|  Burlington Stores, Inc.\* | 5548 | 1411966 |
|  CarMax, Inc.\* | 2573 | 115451 |
|  Home Depot, Inc. (The) | 17633 | 7144715 |
|  Lowe's Cos., Inc. | 9932 | 2496011 |
|  O'Reilly Automotive, Inc.\* | 78252 | 8436348 |
|  Ross Stores, Inc. | 5916 | 901539 |
|  TJX Cos., Inc. (The) | 19772 | 2857845 |
|  Tractor Supply Co. | 35466 | 2016951 |
|  Ulta Beauty, Inc.\* | 778 | 425371 |
|  Williams-Sonoma, Inc. | 2259 | 441522 |
|  |  | 27759277 |
|  ***Textiles, Apparel & Luxury Goods (0.2%)*** |  |  |
|  Deckers Outdoor Corp.\* | 2643 | 267921 |
|  Lululemon Athletica, Inc.\* | 1943 | 345718 |
|  NIKE, Inc., Class B | 20964 | 1461820 |
|  Ralph Lauren Corp. | 656 | 205695 |
|  Tapestry, Inc. | 3721 | 421292 |
|  |  | 2702446 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 147725794 |
|  **Consumer Staples (5.0%)** |  |  |
|  ***Beverages (0.9%)*** |  |  |
|  Brown-Forman Corp., Class B | 3134 | 84869 |
|  Coca-Cola Co. (The) | 144579 | 9588479 |
|  Constellation Brands, Inc., Class A | 2451 | 330076 |
|  Diageo plc (ADR) | 20360 | 1942955 |
|  Keurig Dr Pepper, Inc. | 24356 | 621321 |
|  Molson Coors Beverage Co., Class B | 3081 | 139415 |
|  Monster Beverage Corp.\* | 12538 | 843933 |
|  PepsiCo, Inc. | 24263 | 3407496 |
|  |  | 16958544 |
|  ***Consumer Staples Distribution & Retail (1.1%)*** |  |  |
|  Costco Wholesale Corp. | 7860 | 7275452 |
|  Dollar General Corp. | 3772 | 389836 |
|  Dollar Tree, Inc.\* | 3475 | 327936 |
|  Kroger Co. (The) | 75546 | 5092556 |
|  Sysco Corp. | 8334 | 686221 |

---

See Notes to Portfolio of Investments.

617

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Target Corp. | 8171 | $732939 |
|  Walmart, Inc. | 77788 | 8016831 |
|  |  | 22521771 |
|  ***Food Products (0.6%)*** |  |  |
|  Archer-Daniels-Midland Co. | 8772 | 524039 |
|  Bunge Global SA | 2350 | 190938 |
|  Campbell's Co. (The)(x) | 3437 | 108541 |
|  Conagra Brands, Inc. | 8515 | 155910 |
|  General Mills, Inc. | 9476 | 477780 |
|  Hershey Co. (The) | 2556 | 478100 |
|  Hormel Foods Corp. | 5110 | 126421 |
|  J M Smucker Co. (The) | 1915 | 207969 |
|  Kellanova | 4970 | 407639 |
|  Kraft Heinz Co. (The) | 14796 | 385288 |
|  Lamb Weston Holdings, Inc. | 2462 | 142993 |
|  McCormick & Co., Inc. (Non- Voting) | 4584 | 306715 |
|  Mondelez International, Inc., Class A | 113868 | 7113334 |
|  Tyson Foods, Inc., Class A | 4989 | 270903 |
|  |  | 10896570 |
|  ***Household Products (0.5%)*** |  |  |
|  Church & Dwight Co., Inc. | 20611 | 1806142 |
|  Clorox Co. (The) | 2248 | 277178 |
|  Colgate-Palmolive Co. | 14226 | 1137226 |
|  Kimberly-Clark Corp. | 5873 | 730249 |
|  Procter & Gamble Co. (The) | 41513 | 6378473 |
|  |  | 10329268 |
|  ***Personal Care Products (0.1%)*** |  |  |
|  Estee Lauder Cos., Inc. (The), Class A | 4205 | 370545 |
|  Kenvue, Inc. | 33635 | 545896 |
|  |  | 916441 |
|  ***Tobacco (1.8%)*** |  |  |
|  Altria Group, Inc. | 159679 | 10548395 |
|  Philip Morris International, Inc. | 157237 | 25503841 |
|  |  | 36052236 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 97674830 |
|  **Energy (2.8%)** |  |  |
|  ***Energy Equipment & Services (0.1%)*** |  |  |
|  Baker Hughes Co. | 17745 | 864537 |
|  Halliburton Co. | 15762 | 387745 |
|  Schlumberger NV | 26441 | 908777 |
|  |  | 2161059 |
|  ***Oil, Gas & Consumable Fuels (2.7%)*** |  |  |
|  APA Corp.(x) | 6233 | 151337 |
|  Chevron Corp. | 57950 | 8999056 |
|  ConocoPhillips | 32701 | 3093188 |
|  Coterra Energy, Inc. | 12974 | 306835 |
|  Devon Energy Corp. | 11341 | 397615 |
|  Diamondback Energy, Inc. | 3441 | 492407 |
|  Enbridge, Inc. | 91193 | 4601599 |
|  EOG Resources, Inc. | 9828 | 1101915 |
|  EQT Corp. | 11082 | 603193 |
|  Expand Energy Corp. | 43668 | 4639288 |
|  Exxon Mobil Corp. | 180086 | 20304696 |
|  Kinder Morgan, Inc. | 34847 | 986519 |
|  Marathon Petroleum Corp. | 5388 | 1038483 |
|  Occidental Petroleum Corp. | 12627 | 596626 |
|  ONEOK, Inc. | 11027 | 804640 |
|  Phillips 66 | 7162 | 974175 |
|  Targa Resources Corp. | 3876 | 649385 |
|  Texas Pacific Land Corp. | 350 | 326774 |
|  Valero Energy Corp. | 5445 | 927066 |
|  Williams Cos., Inc. (The) | 21525 | 1363609 |
|  |  | 52358406 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 54519465 |
|  **Financials (11.7%)** |  |  |
|  ***Banks (2.6%)*** |  |  |
|  Bank of America Corp. | 120768 | 6230421 |
|  Citigroup, Inc. | 32626 | 3311539 |
|  Citizens Financial Group, Inc. | 7936 | 421878 |
|  Fifth Third Bancorp | 11647 | 518874 |
|  Huntington Bancshares, Inc. | 26582 | 459071 |
|  JPMorgan Chase & Co. | 91193 | 28765008 |
|  KeyCorp | 16082 | 300572 |
|  M&T Bank Corp. | 2740 | 541479 |
|  PNC Financial Services Group, Inc. (The) | 6979 | 1402290 |
|  Regions Financial Corp. | 16372 | 431730 |
|  Truist Financial Corp. | 69463 | 3175848 |
|  US Bancorp | 27475 | 1327867 |
|  Wells Fargo & Co. | 56773 | 4758713 |
|  |  | 51645290 |
|  ***Capital Markets (2.6%)*** |  |  |
|  Ameriprise Financial, Inc. | 1656 | 813510 |
|  Bank of New York Mellon Corp. (The) | 12499 | 1361891 |
|  BlackRock, Inc.‡ | 2553 | 2976466 |
|  Blackstone, Inc. | 13042 | 2228226 |
|  Cboe Global Markets, Inc. | 1799 | 441205 |
|  Charles Schwab Corp. (The) | 30240 | 2887013 |
|  CME Group, Inc. | 24323 | 6571831 |
|  Coinbase Global, Inc., Class A\* | 4008 | 1352660 |
|  FactSet Research Systems, Inc. | 660 | 189083 |
|  Franklin Resources, Inc. | 5598 | 129482 |
|  Goldman Sachs Group, Inc. (The) | 5365 | 4272418 |
|  Interactive Brokers Group, Inc., Class A | 7905 | 543943 |
|  Intercontinental Exchange, Inc. | 56870 | 9581458 |
|  Invesco Ltd. | 7524 | 172600 |
|  KKR & Co., Inc. | 32827 | 4265869 |
|  Moody's Corp. | 2734 | 1302696 |
|  Morgan Stanley | 21501 | 3417799 |
|  MSCI, Inc. | 1389 | 788132 |
|  Nasdaq, Inc. | 8034 | 710607 |
|  Northern Trust Corp. | 3325 | 447545 |
|  Raymond James Financial, Inc. | 3071 | 530055 |
|  Robinhood Markets, Inc., Class A\* | 13717 | 1964000 |
|  S&P Global, Inc. | 7229 | 3518427 |
|  State Street Corp. | 5098 | 591419 |
| T. Rowe Price Group, Inc. | 3789 | 388903 |
|  |  | 51447238 |
|  ***Consumer Finance (0.8%)*** |  |  |
|  American Express Co. | 9620 | 3195379 |
|  Capital One Financial Corp. | 53253 | 11320523 |
|  Synchrony Financial | 6807 | 483637 |
|  |  | 14999539 |
|  ***Financial Services (3.0%)*** |  |  |
|  Apollo Global Management, Inc. | 8085 | 1077488 |
|  Berkshire Hathaway, Inc., Class B\* | 41628 | 20928061 |
|  Block, Inc., Class A\* | 9740 | 703910 |
|  Corpay, Inc.\* | 1284 | 369869 |
|  Fidelity National Information Services, Inc. | 9405 | 620166 |
|  Fiserv, Inc.\* | 9634 | 1242112 |
|  Global Payments, Inc. | 4245 | 352675 |
|  Jack Henry & Associates, Inc. | 1236 | 184077 |
|  Mastercard, Inc., Class A | 21788 | 12393232 |
|  PayPal Holdings, Inc.\* | 16932 | 1135460 |

---

See Notes to Portfolio of Investments.

618

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Toast, Inc., Class A\* | 58787 | $2146313 |
|  Visa, Inc., Class A | 50884 | 17370780 |
|  |  | 58524143 |
|  ***Insurance (2.7%)*** |  |  |
|  Aflac, Inc. | 8531 | 952913 |
|  Allstate Corp. (The) | 27733 | 5952888 |
|  American International Group, Inc. | 110867 | 8707494 |
|  Aon plc, Class A | 3818 | 1361422 |
|  Arch Capital Group Ltd. | 19654 | 1783207 |
|  Arthur J Gallagher & Co. | 4518 | 1399405 |
|  Assurant, Inc. | 907 | 196456 |
|  Brown & Brown, Inc. | 5193 | 487052 |
|  Chubb Ltd. | 6571 | 1854665 |
|  Cincinnati Financial Corp. | 32870 | 5196747 |
|  Erie Indemnity Co., Class A | 472 | 150172 |
|  Everest Group Ltd. | 784 | 274580 |
|  Globe Life, Inc. | 1503 | 214884 |
|  Hartford Insurance Group, Inc. (The) | 4877 | 650543 |
|  Loews Corp. | 3113 | 312514 |
|  Marsh & McLennan Cos., Inc. | 21818 | 4396982 |
|  MetLife, Inc. | 9900 | 815463 |
|  Principal Financial Group, Inc. | 3474 | 288029 |
|  Progressive Corp. (The) | 58760 | 14510782 |
|  Prudential Financial, Inc. | 6290 | 652525 |
|  Slide Insurance Holdings, Inc.\* | 49445 | 780489 |
|  Travelers Cos., Inc. (The) | 3966 | 1107387 |
|  W.R. Berkley Corp. | 5164 | 395666 |
|  Willis Towers Watson plc | 1756 | 606610 |
|  |  | 53048875 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 229665085 |
|  **Health Care (6.6%)** |  |  |
|  ***Biotechnology (1.0%)*** |  |  |
|  AbbVie, Inc. | 39270 | 9092576 |
|  Amgen, Inc. | 16686 | 4708789 |
|  Biogen, Inc.\* | 2641 | 369951 |
|  Gilead Sciences, Inc. | 21990 | 2440890 |
|  Incyte Corp.\* | 2765 | 234500 |
|  Moderna, Inc.\* | 5856 | 151261 |
|  Regeneron Pharmaceuticals, Inc. | 1805 | 1014897 |
|  Vertex Pharmaceuticals, Inc.\* | 4544 | 1779612 |
|  |  | 19792476 |
|  ***Health Care Equipment & Supplies (1.1%)*** |  |  |
|  Abbott Laboratories | 44120 | 5909433 |
|  Align Technology, Inc.\* | 1207 | 151140 |
|  Baxter International, Inc. | 9355 | 213013 |
|  Becton Dickinson & Co. | 5009 | 937534 |
|  Boston Scientific Corp.\* | 26260 | 2563764 |
|  Cooper Cos., Inc. (The)\* | 3594 | 246405 |
|  Dexcom, Inc.\* | 6859 | 461542 |
|  Edwards Lifesciences Corp.\* | 10515 | 817752 |
|  GE HealthCare Technologies, Inc. | 8030 | 603053 |
|  Hologic, Inc.\* | 3871 | 261254 |
|  IDEXX Laboratories, Inc.\* | 1411 | 901474 |
|  Insulet Corp.\* | 1214 | 374798 |
|  Intuitive Surgical, Inc.\* | 6353 | 2841252 |
|  Medtronic plc | 22707 | 2162615 |
|  ResMed, Inc.(x) | 2622 | 717720 |
|  Solventum Corp.\* | 2468 | 180164 |
|  STERIS plc | 1825 | 451578 |
|  Stryker Corp. | 6098 | 2254248 |
|  Zimmer Biomet Holdings, Inc. | 3639 | 358441 |
|  |  | 22407180 |
|  ***Health Care Providers & Services (1.5%)*** |  |  |
|  Cardinal Health, Inc. | 4311 | 676655 |
|  Cencora, Inc. | 3436 | 1073853 |
|  Centene Corp.\* | 8107 | 289258 |
|  Cigna Group (The) | 35735 | 10300614 |
|  CVS Health Corp. | 22336 | 1683911 |
|  DaVita, Inc.\* | 561 | 74540 |
|  Elevance Health, Inc. | 3967 | 1281817 |
|  HCA Healthcare, Inc. | 2903 | 1237259 |
|  Henry Schein, Inc.\* | 1827 | 121258 |
|  Humana, Inc. | 5489 | 1428073 |
|  Labcorp Holdings, Inc. | 1440 | 413366 |
|  McKesson Corp. | 2204 | 1702678 |
|  Molina Healthcare, Inc.\* | 1031 | 197292 |
|  Quest Diagnostics, Inc. | 2046 | 389927 |
|  UnitedHealth Group, Inc. | 22445 | 7750258 |
|  Universal Health Services, Inc., Class B | 951 | 194422 |
|  |  | 28815181 |
|  ***Life Sciences Tools & Services (0.5%)*** |  |  |
|  Agilent Technologies, Inc. | 5011 | 643162 |
|  Bio-Techne Corp. | 2686 | 149422 |
|  Charles River Laboratories International, Inc.\* | 847 | 132522 |
|  Danaher Corp. | 17765 | 3522089 |
|  IQVIA Holdings, Inc.\* | 2937 | 557854 |
|  Mettler-Toledo International, Inc.\* | 1474 | 1809497 |
|  Revvity, Inc. | 2090 | 183188 |
|  Thermo Fisher Scientific, Inc. | 6692 | 3245754 |
|  Waters Corp.\* | 1071 | 321097 |
|  West Pharmaceutical Services, Inc. | 1228 | 322141 |
|  |  | 10886726 |
|  ***Pharmaceuticals (2.5%)*** |  |  |
|  Bristol-Myers Squibb Co. | 44546 | 2009025 |
|  Eli Lilly & Co. | 24825 | 18941475 |
|  Johnson & Johnson | 75811 | 14056876 |
|  Merck & Co., Inc. | 44267 | 3715329 |
|  Novartis AG (ADR) | 32427 | 4158438 |
|  Pfizer, Inc. | 100762 | 2567416 |
|  Royalty Pharma plc, Class A | 51765 | 1826269 |
|  Viatris, Inc. | 20211 | 200089 |
|  Zoetis, Inc. | 7830 | 1145686 |
|  |  | 48620603 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 130522166 |
|  **Industrials (6.8%)** |  |  |
|  ***Aerospace & Defense (1.9%)*** |  |  |
|  ATI, Inc.\* | 33317 | 2710005 |
|  Axon Enterprise, Inc.\* | 1393 | 999673 |
|  Boeing Co. (The)\* | 13401 | 2892338 |
|  GE Aerospace | 32132 | 9665948 |
|  General Dynamics Corp. | 4459 | 1520519 |
|  Howmet Aerospace, Inc. | 7133 | 1399709 |
|  Huntington Ingalls Industries, Inc. | 698 | 200961 |
|  L3Harris Technologies, Inc. | 3367 | 1028315 |
|  Lockheed Martin Corp. | 3641 | 1817624 |
|  Northrop Grumman Corp. | 2385 | 1453228 |
|  RTX Corp. | 23722 | 3969402 |
|  Textron, Inc. | 3115 | 263186 |
|  TransDigm Group, Inc. | 6710 | 8843914 |
|  |  | 36764822 |
|  ***Air Freight & Logistics (0.2%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 2144 | 283866 |
|  Expeditors International of Washington, Inc.(x) | 2426 | 297403 |
|  FedEx Corp. | 11797 | 2781850 |
|  United Parcel Service, Inc., Class B | 13194 | 1102095 |
|  |  | 4465214 |
|  ***Building Products (0.3%)*** |  |  |
|  A.O. Smith Corp. | 2082 | 152839 |
|  Allegion plc | 1495 | 265138 |

---

See Notes to Portfolio of Investments.

619

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Builders FirstSource, Inc.\* | 1895 | $229769 |
|  Carrier Global Corp. | 43041 | 2569548 |
|  Johnson Controls International plc | 11584 | 1273661 |
|  Lennox International, Inc. | 563 | 298030 |
|  Masco Corp. | 3855 | 271353 |
|  Trane Technologies plc | 3934 | 1659991 |
|  |  | 6720329 |
|  ***Commercial Services & Supplies (0.3%)*** |  |  |
|  Cintas Corp. | 6030 | 1237718 |
|  Copart, Inc.\* | 15654 | 703960 |
|  Republic Services, Inc. | 3650 | 837602 |
|  Rollins, Inc. | 5121 | 300808 |
|  Veralto Corp. | 4252 | 453306 |
|  Waste Connections, Inc. | 4934 | 867397 |
|  Waste Management, Inc. | 6633 | 1464765 |
|  |  | 5865556 |
|  ***Construction & Engineering (0.1%)*** |  |  |
|  EMCOR Group, Inc. | 793 | 515085 |
|  Quanta Services, Inc. | 2669 | 1106087 |
|  |  | 1621172 |
|  ***Electrical Equipment (0.8%)*** |  |  |
|  AMETEK, Inc. | 4131 | 776628 |
|  Eaton Corp. plc | 23104 | 8646672 |
|  Emerson Electric Co. | 9940 | 1303929 |
|  GE Vernova, Inc. | 4824 | 2966278 |
|  Generac Holdings, Inc.\* | 1025 | 171585 |
|  Hubbell, Inc., Class B | 926 | 398467 |
|  Rockwell Automation, Inc. | 2016 | 704653 |
|  |  | 14968212 |
|  ***Ground Transportation (0.5%)*** |  |  |
|  CSX Corp. | 32826 | 1165651 |
|  JB Hunt Transport Services, Inc. | 1456 | 195352 |
|  Norfolk Southern Corp. | 3947 | 1185718 |
|  Old Dominion Freight Line, Inc. | 3299 | 464433 |
|  Saia, Inc.\* | 2768 | 828629 |
|  Uber Technologies, Inc.\* | 36959 | 3620873 |
|  Union Pacific Corp. | 10510 | 2484249 |
|  |  | 9944905 |
|  ***Industrial Conglomerates (0.2%)*** |  |  |
|  3M Co. | 9440 | 1464899 |
|  Honeywell International, Inc. | 11252 | 2368546 |
|  |  | 3833445 |
|  ***Machinery (1.1%)*** |  |  |
|  Caterpillar, Inc. | 8303 | 3961776 |
|  Cummins, Inc. | 2472 | 1044099 |
|  Deere & Co. | 4464 | 2041209 |
|  Dover Corp. | 2345 | 391216 |
|  Fortive Corp. | 5719 | 280174 |
|  IDEX Corp. | 1370 | 222981 |
|  Illinois Tool Works, Inc. | 4687 | 1222182 |
|  Ingersoll Rand, Inc. | 26310 | 2173732 |
|  Nordson Corp. | 967 | 219461 |
|  Otis Worldwide Corp. | 7027 | 642478 |
|  PACCAR, Inc. | 9443 | 928436 |
|  Parker-Hannifin Corp. | 2260 | 1713419 |
|  Pentair plc | 3001 | 332391 |
|  Snap-on, Inc. | 921 | 319154 |
|  Stanley Black & Decker, Inc. | 2730 | 202921 |
|  Westinghouse Air Brake Technologies Corp. | 2981 | 597601 |
|  Xylem, Inc. | 42288 | 6237480 |
|  |  | 22530710 |
|  ***Passenger Airlines (0.1%)*** |  |  |
|  Delta Air Lines, Inc. | 11391 | 646439 |
|  Southwest Airlines Co. | 9308 | 297018 |
|  United Airlines Holdings, Inc.\* | 5783 | 558060 |
|  |  | 1501517 |
|  ***Professional Services (0.4%)*** |  |  |
|  Automatic Data Processing, Inc. | 7179 | 2107036 |
|  Broadridge Financial Solutions, Inc. | 2052 | 488725 |
|  Dayforce, Inc.\* | 29165 | 2009177 |
|  Equifax, Inc. | 2162 | 554618 |
|  Jacobs Solutions, Inc. | 2051 | 307363 |
|  Leidos Holdings, Inc. | 2254 | 425916 |
|  Paychex, Inc. | 5752 | 729123 |
|  Paycom Software, Inc. | 848 | 176503 |
|  Verisk Analytics, Inc. | 2502 | 629278 |
|  |  | 7427739 |
|  ***Trading Companies & Distributors (0.9%)*** |  |  |
|  Fastenal Co. | 20669 | 1013608 |
|  FTAI Aviation Ltd. | 19165 | 3197872 |
|  United Rentals, Inc. | 12903 | 12317978 |
|  W.W. Grainger, Inc. | 796 | 758556 |
|  |  | 17288014 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 132931635 |
|  **Information Technology (24.0%)** |  |  |
|  ***Communications Equipment (0.7%)*** |  |  |
|  Arista Networks, Inc.\* | 18265 | 2661393 |
|  Cisco Systems, Inc. | 70181 | 4801784 |
|  F5, Inc.\* | 1040 | 336118 |
|  Motorola Solutions, Inc. | 14987 | 6853405 |
|  |  | 14652700 |
|  ***Electronic Equipment, Instruments & Components (0.6%)*** |  |  |
|  Amphenol Corp., Class A | 36654 | 4535933 |
|  CDW Corp. | 2313 | 368415 |
|  Corning, Inc. | 13842 | 1135459 |
|  Jabil, Inc. | 1978 | 429562 |
|  Keysight Technologies, Inc.\* | 2987 | 522486 |
|  TE Connectivity plc | 14409 | 3163208 |
|  Teledyne Technologies, Inc.\* | 855 | 501064 |
|  Trimble, Inc.\* | 4077 | 332887 |
|  Zebra Technologies Corp., Class A\* | 950 | 282302 |
|  |  | 11271316 |
|  ***IT Services (0.6%)*** |  |  |
|  Accenture plc, Class A | 16675 | 4112055 |
|  Akamai Technologies, Inc.\* | 2482 | 188036 |
|  Cognizant Technology Solutions Corp., Class A | 8793 | 589747 |
|  EPAM Systems, Inc.\* | 952 | 143552 |
|  Gartner, Inc.\* | 1305 | 343045 |
|  GoDaddy, Inc., Class A\* | 2416 | 330581 |
|  International Business Machines Corp. | 16509 | 4658180 |
|  VeriSign, Inc. | 1511 | 422430 |
|  |  | 10787626 |
|  ***Semiconductors & Semiconductor Equipment (10.5%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 28761 | 4653242 |
|  Analog Devices, Inc. | 8795 | 2160931 |
|  Applied Materials, Inc. | 14222 | 2911812 |
|  Broadcom, Inc. | 126094 | 41599672 |
|  First Solar, Inc.\* | 1949 | 429813 |
|  Intel Corp.\* | 86727 | 2909691 |
|  KLA Corp. | 6053 | 6528766 |
|  Lam Research Corp. | 22430 | 3003377 |
|  Microchip Technology, Inc. | 9440 | 606237 |
|  Micron Technology, Inc. | 55719 | 9322903 |
|  Monolithic Power Systems, Inc. | 8545 | 7866869 |
|  NVIDIA Corp. | 554343 | 103429317 |
|  NXP Semiconductors NV | 4564 | 1039360 |
|  ON Semiconductor Corp.\* | 7051 | 347685 |
|  QUALCOMM, Inc. | 19114 | 3179805 |
|  Skyworks Solutions, Inc. | 2596 | 199840 |

---

See Notes to Portfolio of Investments.

620

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Taiwan Semiconductor Manufacturing Co. Ltd. (ADR) | 46405 | $12960452 |
|  Teradyne, Inc. | 2957 | 407001 |
|  Texas Instruments, Inc. | 16112 | 2960258 |
|  |  | 206517031 |
|  ***Software (7.8%)*** |  |  |
|  Adobe, Inc.\* | 7518 | 2651974 |
|  AppLovin Corp., Class A\* | 4798 | 3447555 |
|  Atlassian Corp., Class A\* | 11865 | 1894841 |
|  Autodesk, Inc.\* | 3764 | 1195710 |
|  Cadence Design Systems, Inc.\* | 4829 | 1696235 |
|  Crowdstrike Holdings, Inc., Class A\* | 4417 | 2166008 |
|  Datadog, Inc., Class A\* | 5657 | 805557 |
|  Fair Isaac Corp.\* | 433 | 647997 |
|  Fortinet, Inc.\* | 11478 | 965070 |
|  Gen Digital, Inc. | 9625 | 273254 |
|  Intuit, Inc. | 4944 | 3376307 |
|  Microsoft Corp. | 183246 | 94912266 |
|  Oracle Corp. | 29370 | 8260019 |
|  Palantir Technologies, Inc., Class A\* | 40306 | 7352621 |
|  Palo Alto Networks, Inc.(x)\* | 11834 | 2409639 |
|  PTC, Inc.\* | 2088 | 423906 |
|  Roper Technologies, Inc. | 1938 | 966461 |
|  Salesforce, Inc. | 31659 | 7503183 |
|  ServiceNow, Inc.\* | 11098 | 10213267 |
|  Synopsys, Inc.\* | 3270 | 1613385 |
|  Tyler Technologies, Inc.\* | 781 | 408588 |
|  Workday, Inc., Class A\* | 3812 | 917663 |
|  |  | 154101506 |
|  ***Technology Hardware, Storage & Peripherals (3.8%)*** |  |  |
|  Apple, Inc. | 278982 | 71037187 |
|  Dell Technologies, Inc., Class C | 5462 | 774348 |
|  Hewlett Packard Enterprise Co. | 22943 | 563480 |
|  HP, Inc. | 17233 | 469254 |
|  NetApp, Inc. | 3486 | 412951 |
|  Seagate Technology Holdings plc | 3761 | 887822 |
|  Super Micro Computer, Inc.(x)\* | 9161 | 439178 |
|  Western Digital Corp. | 6061 | 727684 |
|  |  | 75311904 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 472642083 |
|  **Materials (1.6%)** |  |  |
|  ***Chemicals (1.0%)*** |  |  |
|  Air Products and Chemicals, Inc. | 8954 | 2441935 |
|  Albemarle Corp. | 2210 | 179187 |
|  CF Industries Holdings, Inc. | 2839 | 254658 |
|  Corteva, Inc. | 25779 | 1743434 |
|  Dow, Inc. | 13047 | 299168 |
|  DuPont de Nemours, Inc. | 7297 | 568436 |
|  Eastman Chemical Co. | 1964 | 123830 |
|  Ecolab, Inc. | 4543 | 1244146 |
|  International Flavors & Fragrances, Inc. | 4749 | 292254 |
|  Linde plc | 12457 | 5917075 |
|  LyondellBasell Industries NV, Class A | 4653 | 228183 |
|  Mosaic Co. (The) | 5788 | 200728 |
|  PPG Industries, Inc. | 4047 | 425380 |
|  Sherwin-Williams Co. (The) | 17777 | 6155464 |
|  |  | 20073878 |
|  ***Construction Materials (0.3%)*** |  |  |
|  Amrize Ltd.\* | 101290 | 4915604 |
|  Martin Marietta Materials, Inc. | 1084 | 683223 |
|  Vulcan Materials Co. | 2345 | 721369 |
|  |  | 6320196 |
|  ***Containers & Packaging (0.1%)*** |  |  |
|  Amcor plc | 41921 | 342914 |
|  Avery Dennison Corp. | 1449 | 234984 |
|  Ball Corp. | 4937 | 248924 |
|  International Paper Co. | 9647 | 447621 |
|  Packaging Corp. of America | 1514 | 329946 |
|  Smurfit WestRock plc | 9022 | 384066 |
|  |  | 1988455 |
|  ***Metals & Mining (0.2%)*** |  |  |
|  Freeport-McMoRan, Inc. | 25214 | 988893 |
|  Newmont Corp. | 19467 | 1641263 |
|  Nucor Corp. | 4110 | 556617 |
|  Steel Dynamics, Inc. | 2355 | 328358 |
|  |  | 3515131 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 31897660 |
|  **Real Estate (1.1%)** |  |  |
|  ***Health Care REITs (0.3%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) | 2717 | 226435 |
|  Healthpeak Properties, Inc. (REIT) | 12563 | 240581 |
|  Ventas, Inc. (REIT) | 8119 | 568249 |
|  Welltower, Inc. (REIT) | 26906 | 4793035 |
|  |  | 5828300 |
|  ***Hotel & Resort REITs (0.0%)†*** |  |  |
|  Host Hotels & Resorts, Inc. (REIT) | 10826 | 184259 |
|  ***Industrial REITs (0.1%)*** |  |  |
|  Prologis, Inc. (REIT) | 16448 | 1883625 |
|  ***Office REITs (0.0%)†*** |  |  |
|  BXP, Inc. (REIT) | 2457 | 182653 |
|  ***Real Estate Management & Development (0.1%)*** |  |  |
|  CBRE Group, Inc., Class A\* | 5266 | 829711 |
|  CoStar Group, Inc.\* | 7422 | 626194 |
|  |  | 1455905 |
|  ***Residential REITs (0.1%)*** |  |  |
|  AvalonBay Communities, Inc. (REIT) | 2482 | 479448 |
|  Camden Property Trust (REIT) | 1929 | 205979 |
|  Equity Residential (REIT) | 6347 | 410841 |
|  Essex Property Trust, Inc. (REIT) | 1171 | 313430 |
|  Invitation Homes, Inc. (REIT) | 10117 | 296731 |
|  Mid-America Apartment Communities, Inc. (REIT) | 2171 | 303354 |
|  UDR, Inc. (REIT) | 5364 | 199863 |
|  |  | 2209646 |
|  ***Retail REITs (0.1%)*** |  |  |
|  Federal Realty Investment Trust (REIT) | 1381 | 139909 |
|  Kimco Realty Corp. (REIT) | 11660 | 254771 |
|  Realty Income Corp. (REIT) | 16225 | 986318 |
|  Regency Centers Corp. (REIT) | 2722 | 198434 |
|  Simon Property Group, Inc. (REIT) | 5786 | 1085858 |
|  |  | 2665290 |
|  ***Specialized REITs (0.4%)*** |  |  |
|  American Tower Corp. (REIT) | 8299 | 1596064 |
|  Crown Castle, Inc. (REIT) | 7686 | 741622 |
|  Digital Realty Trust, Inc. (REIT) | 5712 | 987490 |
|  Equinix, Inc. (REIT) | 1726 | 1351872 |
|  Extra Space Storage, Inc. (REIT) | 3743 | 527538 |
|  Iron Mountain, Inc. (REIT) | 5154 | 525399 |
|  Public Storage (REIT) | 2799 | 808491 |
|  SBA Communications Corp. (REIT) | 1845 | 356731 |
|  VICI Properties, Inc. (REIT), Class A | 18683 | 609253 |

---

See Notes to Portfolio of Investments.

621

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Weyerhaeuser Co. (REIT) | 13428 | $332880 |
|  |  | 7837340 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 22247018 |
|  **Utilities (4.2%)** |  |  |
|  ***Electric Utilities (2.7%)*** |  |  |
|  Alliant Energy Corp. | 4665 | 314468 |
|  American Electric Power Co., Inc. | 89020 | 10014750 |
|  Constellation Energy Corp. | 21986 | 7234933 |
|  Duke Energy Corp. | 60517 | 7488979 |
|  Edison International | 6561 | 362692 |
|  Entergy Corp. | 7976 | 743284 |
|  Evergy, Inc. | 4215 | 320424 |
|  Eversource Energy | 6693 | 476140 |
|  Exelon Corp. | 136240 | 6132162 |
|  FirstEnergy Corp. | 9382 | 429883 |
|  NextEra Energy, Inc. | 96114 | 7255646 |
|  NRG Energy, Inc. | 3396 | 549982 |
|  PG&E Corp. | 38392 | 578951 |
|  Pinnacle West Capital Corp. | 2155 | 193217 |
|  PPL Corp. | 89930 | 3341799 |
|  Southern Co. (The) | 19496 | 1847636 |
|  Xcel Energy, Inc. | 62817 | 5066191 |
|  |  | 52351137 |
|  ***Gas Utilities (0.3%)*** |  |  |
|  Atmos Energy Corp. | 39813 | 6798070 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  AES Corp. (The) | 12327 | 162223 |
|  Vistra Corp. | 5644 | 1105773 |
|  |  | 1267996 |
|  ***Multi-Utilities (0.9%)*** |  |  |
|  Ameren Corp. | 4714 | 492047 |
|  CenterPoint Energy, Inc. | 112829 | 4377765 |
|  CMS Energy Corp. | 5431 | 397875 |
|  Consolidated Edison, Inc. | 6471 | 650465 |
|  Dominion Energy, Inc. | 15006 | 917917 |
|  DTE Energy Co. | 24943 | 3527689 |
|  NiSource, Inc. | 107514 | 4655356 |
|  Public Service Enterprise Group, Inc. | 8819 | 736034 |
|  Sempra | 11785 | 1060414 |
|  WEC Energy Group, Inc. | 5629 | 645027 |
|  |  | 17460589 |
|  ***Water Utilities (0.2%)*** |  |  |
|  American Water Works Co., Inc. | 29743 | 4139928 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 82017720 |
|  **Total Common Stocks (80.6%)**<br>*(Cost $586,777,931)* |  | 1584159617 |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (9.0%)** |  |  |
|  iShares Core S&P 500 ETF | 91944 | 61538119 |
|  iShares Morningstar Growth ETF | 5590 | 583037 |
|  iShares Morningstar U.S. Equity ETF(x)‡ | 348108 | 32172141 |
|  iShares Morningstar Value ETF | 5526 | 497451 |
|  iShares Russell 1000 ETF(x) | 96999 | 35451195 |
|  SPDR Portfolio S&P 500 Growth ETF | 5800 | 606158 |
|  SPDR Portfolio S&P 500 Value ETF(x) | 89200 | 4935436 |
|  Vanguard Growth ETF | 1100 | 527571 |
|  Vanguard Large-Cap ETF | 103113 | 31744368 |
|  Vanguard Russell 1000 Growth ETF | 4500 | 542250 |
|  Vanguard Russell 1000 Value ETF | 40600 | 3628422 |
|  Vanguard Value ETF(x) | 24900 | 4643601 |
|  **Total Exchange Traded Funds (9.0%)**<br> (*Cost $36,857,982)* |  | 176869749 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (5.6%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 29688097 | 29688097 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 81238842 | 81271337 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 110959434 |
|  **Total Short-Term Investments (5.6%)**<br> *(Cost $110,944,636)* |  | 110959434 |
|  **Total Investments in Securities (95.2%)**<br> *(Cost $734,580,549)* |  | 1871988800 |
|  **Other Assets Less Liabilities (4.8%)** |  | 94263099 |
|  **Net Assets (100%)** |  | $1966251899 |

---

*\** *Non-income producing.* 

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

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

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $33,124,610. This was collateralized by $4,085,709 of various U.S. Government Treasury Securities, ranging from 0.000% – 4.875%, maturing 10/23/25 – 11/15/53 and by cash of $29,688,097 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

622

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**EQ ADVISORS TRUST** 

EQ/LARGE CAP CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security<br>Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases<br>at<br>Cost ($)** | **Proceeds<br>from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value**<br>**September 30,**<br>**2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain**<br>**Distributions<br>($)** |
|  COMMON STOCKS: |  |  |  |  |  |  |  |  |  |
|  **Financials** |  |  |  |  |  |  |  |  |  |
|  **Capital Markets** |  |  |  |  |  |  |  |  |  |
|  BlackRock, Inc. | 2553 | 3115309 |  | (490095) | 311566 | 39686 | 2976466 | 43342 |  |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  iShares Morningstar U.S. Equity ETF (x) | 348108 | 29169553 |  | (908399) | 638614 | 3272373 | 32172141 | 257653 |  |
|  **Total** |  | **32284862** |  | **(1398494)** | **950180** | **3312059** | **35148607** | **300995** |  |

---

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  S&P 500 E-Mini Index | 576 | 12/2025 | USD | 194076000 | 2211222 |
|  |  |  |  |  | 2211222 |

---

See Notes to Portfolio of Investments.

623

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP CORE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $182316161 | $— | $— | $182316161 |
|  Consumer Discretionary | 147725794 |  |  | 147725794 |
|  Consumer Staples | 97674830 |  |  | 97674830 |
|  Energy | 54519465 |  |  | 54519465 |
|  Financials | 229665085 |  |  | 229665085 |
|  Health Care | 130522166 |  |  | 130522166 |
|  Industrials | 132931635 |  |  | 132931635 |
|  Information Technology | 472642083 |  |  | 472642083 |
|  Materials | 31897660 |  |  | 31897660 |
|  Real Estate | 22247018 |  |  | 22247018 |
|  Utilities | 82017720 |  |  | 82017720 |
|  **Exchange Traded Funds** | 176869749 |  |  | 176869749 |
|  **Futures** | 2211222 |  |  | 2211222 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 110959434 |  |  | 110959434 |
|  **Total Assets** | $**1874200022** | $**—** | $**—** | $**1874200022** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**1874200022** | $**—** | $**—** | $**1874200022** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $1157866254 |
|  Aggregate gross unrealized depreciation | (15747886) |
|  Net unrealized appreciation | $1142118368 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $732081654 |

---

See Notes to Portfolio of Investments.

624

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP GROWTH INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (11.4%)** |  |  |
|  ***Diversified Telecommunication Services (0.0%)†*** |  |  |
|  AST SpaceMobile, Inc., Class A\* | 16234 | $796765 |
|  GCI Liberty, Inc., Class A\* | 64 | 2403 |
|  GCI Liberty, Inc., Class C\* | 432 | 16101 |
|  Iridium Communications, Inc. | 672 | 11733 |
|  |  | 827002 |
|  ***Entertainment (2.4%)*** |  |  |
|  Liberty Media Corp.-Liberty Formula One, Class A\* | 643 | 61226 |
|  Liberty Media Corp.-Liberty Formula One, Class C\* | 5942 | 620642 |
|  Live Nation Entertainment, Inc.\* | 14448 | 2360803 |
|  Netflix, Inc.\* | 38694 | 46391011 |
|  ROBLOX Corp., Class A\* | 55777 | 7726230 |
|  Roku, Inc.\* | 1527 | 152899 |
|  Spotify Technology SA\* | 14044 | 9802712 |
|  Take-Two Interactive Software, Inc.\* | 5639 | 1456892 |
|  TKO Group Holdings, Inc., Class A | 2674 | 540041 |
|  |  | 69112456 |
|  ***Interactive Media & Services (8.9%)*** |  |  |
|  Alphabet, Inc., Class A | 327229 | 79549370 |
|  Alphabet, Inc., Class C | 266444 | 64892436 |
|  Meta Platforms, Inc., Class A | 145838 | 107100510 |
|  Pinterest, Inc., Class A\* | 26782 | 861577 |
|  Reddit, Inc., Class A\* | 10644 | 2448014 |
|  Trump Media & Technology Group Corp.(x)\* | 7942 | 130408 |
|  |  | 254982315 |
|  ***Media (0.1%)*** |  |  |
|  DoubleVerify Holdings, Inc.\* | 5968 | 71497 |
|  Liberty Broadband Corp., Class A\* | 320 | 20266 |
|  Liberty Broadband Corp., Class C\* | 2162 | 137373 |
|  Nexstar Media Group, Inc., Class A | 154 | 30452 |
|  NIQ Global Intelligence plc(x)\* | 2165 | 33990 |
|  Trade Desk, Inc. (The), Class A\* | 40741 | 1996716 |
|  |  | 2290294 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 327212067 |
|  **Consumer Discretionary (13.1%)** |  |  |
|  ***Automobiles (3.9%)*** |  |  |
|  Tesla, Inc.\* | 251995 | 112067216 |
|  ***Broadline Retail (4.3%)*** |  |  |
|  Amazon.com, Inc.\* | 541384 | 118871685 |
|  Coupang, Inc., Class A\* | 113354 | 3649999 |
|  Etsy, Inc.\* | 5139 | 341178 |
|  |  | 122862862 |
|  ***Distributors (0.0%)†*** |  |  |
|  Pool Corp. | 612 | 189763 |
|  ***Diversified Consumer Services (0.0%)†*** |  |  |
|  Bright Horizons Family Solutions, Inc.\* | 672 | 72959 |
|  Duolingo, Inc., Class A\* | 3431 | 1104233 |
|  Grand Canyon Education, Inc.\* | 714 | 156737 |
|  H&R Block, Inc. | 2043 | 103315 |
|  |  | 1437244 |
|  ***Hotels, Restaurants & Leisure (2.6%)*** |  |  |
|  Airbnb, Inc., Class A\* | 38826 | 4714253 |
|  Booking Holdings, Inc. | 2790 | 15063963 |
|  Carnival Corp.\* | 30439 | 879991 |
|  Cava Group, Inc.(x)\* | 9110 | 550335 |
|  Chipotle Mexican Grill, Inc.\* | 122466 | 4799443 |
|  Choice Hotels International, Inc.(x) | 753 | 80503 |
|  Churchill Downs, Inc. | 4858 | 471275 |
|  Darden Restaurants, Inc. | 10131 | 1928537 |
|  Domino's Pizza, Inc. | 881 | 380337 |
|  DoorDash, Inc., Class A\* | 32757 | 8909576 |
|  DraftKings, Inc., Class A\* | 43876 | 1640962 |
|  Dutch Bros, Inc., Class A\* | 10706 | 560352 |
|  Expedia Group, Inc. | 11047 | 2361296 |
|  Flutter Entertainment plc, Class DI\* | 13233 | 3361182 |
|  Hilton Worldwide Holdings, Inc. | 21070 | 5466401 |
|  Las Vegas Sands Corp. | 28407 | 1528013 |
|  Light & Wonder, Inc.(x)\* | 7556 | 634251 |
|  Marriott International, Inc., Class A | 15947 | 4153237 |
|  McDonald's Corp. | 3690 | 1121354 |
|  Norwegian Cruise Line Holdings Ltd.\* | 36445 | 897640 |
|  Planet Fitness, Inc., Class A\* | 7661 | 795212 |
|  Restaurant Brands International, Inc.(x) | 18829 | 1207692 |
|  Royal Caribbean Cruises Ltd. | 23132 | 7485053 |
|  Starbucks Corp. | 13736 | 1162066 |
|  Texas Roadhouse, Inc., Class A | 6043 | 1004044 |
|  Travel + Leisure Co. | 1840 | 109462 |
|  Vail Resorts, Inc. | 2676 | 400249 |
|  Viking Holdings Ltd.\* | 15912 | 989090 |
|  Wendy's Co. (The)(x) | 6372 | 58368 |
|  Wingstop, Inc. | 2536 | 638260 |
|  Wyndham Hotels & Resorts, Inc.(x) | 6118 | 488828 |
|  Yum! Brands, Inc. | 8551 | 1299752 |
|  |  | 75140977 |
|  ***Household Durables (0.1%)*** |  |  |
|  SharkNinja, Inc.\* | 1291 | 133167 |
|  Somnigroup International, Inc. | 18457 | 1556479 |
|  TopBuild Corp.\* | 183 | 71527 |
|  |  | 1761173 |
|  ***Specialty Retail (2.0%)*** |  |  |
|  AutoZone, Inc.\* | 239 | 1025367 |
|  Burlington Stores, Inc.\* | 5738 | 1460321 |
|  Carvana Co.\* | 12050 | 4545742 |
|  Chewy, Inc., Class A\* | 19444 | 786510 |
|  Floor & Decor Holdings, Inc., Class A\* | 3091 | 227807 |
|  Home Depot, Inc. (The) | 69278 | 28070753 |
|  Lithia Motors, Inc., Class A | 262 | 82792 |
|  Murphy USA, Inc. | 1642 | 637523 |
|  O'Reilly Automotive, Inc.\* | 71510 | 7709493 |
|  RH(x)\* | 236 | 47946 |
|  Ross Stores, Inc. | 5878 | 895748 |
|  TJX Cos., Inc. (The) | 51061 | 7380357 |
|  Tractor Supply Co. | 48534 | 2760129 |
|  Ulta Beauty, Inc.\* | 1030 | 563152 |
|  Valvoline, Inc.\* | 10278 | 369083 |
|  Wayfair, Inc., Class A(x)\* | 1556 | 138997 |
|  Williams-Sonoma, Inc. | 1615 | 315652 |
|  |  | 57017372 |
|  ***Textiles, Apparel & Luxury Goods (0.2%)*** |  |  |
|  Birkenstock Holding plc(x)\* | 1486 | 67241 |
|  Deckers Outdoor Corp.\* | 13484 | 1366873 |
|  Lululemon Athletica, Inc.\* | 5538 | 985376 |
|  On Holding AG, Class A\* | 20111 | 851701 |
|  Ralph Lauren Corp. | 255 | 79958 |
|  Tapestry, Inc. | 17317 | 1960631 |
|  |  | 5311780 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 375788387 |
|  **Consumer Staples (2.4%)** |  |  |
|  ***Beverages (0.7%)*** |  |  |
|  Celsius Holdings, Inc.\* | 15009 | 862867 |
|  Coca-Cola Co. (The) | 173491 | 11505923 |

---

See Notes to Portfolio of Investments.

625

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP GROWTH INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Coca-Cola Consolidated, Inc. | 647 | $75803 |
|  Monster Beverage Corp.\* | 63688 | 4286839 |
|  PepsiCo, Inc. | 17133 | 2406159 |
|  |  | 19137591 |
|  ***Consumer Staples Distribution & Retail (1.6%)*** |  |  |
|  BJ's Wholesale Club Holdings, Inc.\* | 1765 | 164586 |
|  Casey's General Stores, Inc. | 506 | 286052 |
|  Costco Wholesale Corp. | 40524 | 37510230 |
|  Performance Food Group Co.\* | 1723 | 179261 |
|  Sprouts Farmers Market, Inc.\* | 8937 | 972346 |
|  Sysco Corp. | 23722 | 1953269 |
|  Walmart, Inc. | 39689 | 4090348 |
|  |  | 45156092 |
|  ***Food Products (0.0%)†*** |  |  |
|  Darling Ingredients, Inc.\* | 1599 | 49361 |
|  Freshpet, Inc.(x)\* | 1203 | 66297 |
|  Hershey Co. (The) | 1607 | 300590 |
|  |  | 416248 |
|  ***Household Products (0.1%)*** |  |  |
|  Colgate-Palmolive Co. | 34786 | 2780793 |
|  Kimberly-Clark Corp. | 10926 | 1358539 |
|  |  | 4139332 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 68849263 |
|  **Energy (0.3%)** |  |  |
|  ***Energy Equipment & Services (0.0%)†*** |  |  |
|  Schlumberger NV | 10818 | 371815 |
|  ***Oil, Gas & Consumable Fuels (0.3%)*** |  |  |
|  Cheniere Energy, Inc. | 9064 | 2129859 |
|  HF Sinclair Corp. | 1449 | 75841 |
|  Phillips 66 | 2661 | 361949 |
|  Targa Resources Corp. | 19607 | 3284957 |
|  Texas Pacific Land Corp. | 1755 | 1638538 |
|  Williams Cos., Inc. (The) | 5896 | 373511 |
|  |  | 7864655 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 8236470 |
|  **Financials (6.1%)** |  |  |
|  ***Banks (0.4%)*** |  |  |
|  Bank of America Corp. | 48935 | 2524557 |
|  Citigroup, Inc. | 29760 | 3020640 |
|  NU Holdings Ltd., Class A\* | 305394 | 4889358 |
|  Pinnacle Financial Partners, Inc. | 482 | 45207 |
|  Popular, Inc. | 545 | 69220 |
|  Western Alliance Bancorp | 2061 | 178730 |
|  |  | 10727712 |
|  ***Capital Markets (1.4%)*** |  |  |
|  Ameriprise Financial, Inc. | 7919 | 3890209 |
|  Ares Management Corp., Class A | 17179 | 2746750 |
|  Bank of New York Mellon Corp. (The) | 4679 | 509824 |
|  Blackstone, Inc. | 66825 | 11417051 |
|  Blue Owl Capital, Inc., Class A | 55693 | 942883 |
|  Brookfield Asset Management Ltd., Class A(x) | 12045 | 685842 |
|  Charles Schwab Corp. (The) | 13615 | 1299824 |
|  Coinbase Global, Inc., Class A\* | 1873 | 632119 |
|  FactSet Research Systems, Inc. | 226 | 64747 |
|  Freedom Holding Corp.(x)\* | 1370 | 235818 |
|  Goldman Sachs Group, Inc. (The) | 1476 | 1175413 |
|  Hamilton Lane, Inc., Class A | 2388 | 321879 |
|  Houlihan Lokey, Inc., Class A | 1882 | 386412 |
|  Interactive Brokers Group, Inc., Class A | 2091 | 143882 |
|  Jefferies Financial Group, Inc. | 3414 | 223344 |
|  KKR & Co., Inc. | 15434 | 2005648 |
|  Lazard, Inc. | 1628 | 85926 |
|  LPL Financial Holdings, Inc. | 7275 | 2420320 |
|  Moody's Corp. | 14192 | 6762204 |
|  Morningstar, Inc. | 1437 | 333398 |
|  MSCI, Inc. | 3378 | 1916711 |
|  Robinhood Markets, Inc., Class A\* | 9045 | 1295063 |
|  TPG, Inc., Class A | 11332 | 651023 |
|  Tradeweb Markets, Inc., Class A | 893 | 99105 |
|  XP, Inc., Class A | 3270 | 61443 |
|  |  | 40306838 |
|  ***Consumer Finance (0.2%)*** |  |  |
|  Ally Financial, Inc. | 2968 | 116345 |
|  American Express Co. | 16443 | 5461707 |
|  Credit Acceptance Corp.\* | 43 | 20078 |
|  SLM Corp. | 2632 | 72854 |
|  SoFi Technologies, Inc.\* | 14174 | 374477 |
|  |  | 6045461 |
|  ***Financial Services (3.7%)*** |  |  |
|  Affirm Holdings, Inc., Class A\* | 14568 | 1064629 |
|  Apollo Global Management, Inc. | 26213 | 3493407 |
|  Block, Inc., Class A\* | 18400 | 1329768 |
|  Corpay, Inc.\* | 6204 | 1787124 |
|  Equitable Holdings, Inc.‡ | 26838 | 1362834 |
|  Fiserv, Inc.\* | 13643 | 1758992 |
|  Mastercard, Inc., Class A | 74279 | 42250638 |
|  Shift4 Payments, Inc., Class A(x)\* | 5961 | 461381 |
|  Toast, Inc., Class A\* | 41241 | 1505709 |
|  UWM Holdings Corp., Class A | 1594 | 9708 |
|  Visa, Inc., Class A | 155506 | 53086638 |
|  WEX, Inc.\* | 252 | 39698 |
|  |  | 108150526 |
|  ***Insurance (0.4%)*** |  |  |
|  Aon plc, Class A | 17708 | 6314318 |
|  Arthur J Gallagher & Co. | 1409 | 436424 |
|  Brown & Brown, Inc. | 2696 | 252858 |
|  Everest Group Ltd. | 539 | 188774 |
|  Kinsale Capital Group, Inc. | 2019 | 858600 |
|  Markel Group, Inc.\* | 232 | 443435 |
|  Marsh & McLennan Cos., Inc. | 5343 | 1076775 |
|  Progressive Corp. (The) | 2684 | 662814 |
|  RLI Corp. | 399 | 26023 |
|  Ryan Specialty Holdings, Inc., Class A(x) | 9584 | 540154 |
|  |  | 10800175 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 176030712 |
|  **Health Care (6.8%)** |  |  |
|  ***Biotechnology (2.6%)*** |  |  |
|  AbbVie, Inc. | 161745 | 37450437 |
|  Alnylam Pharmaceuticals, Inc.\* | 11395 | 5196120 |
|  Amgen, Inc. | 36224 | 10222413 |
|  Apellis Pharmaceuticals, Inc.\* | 9842 | 222725 |
|  Caris Life Sciences, Inc.\* | 1016 | 30734 |
|  Exact Sciences Corp.\* | 938 | 51318 |
|  Exelixis, Inc.\* | 19460 | 803698 |
|  Gilead Sciences, Inc. | 30611 | 3397821 |
|  Halozyme Therapeutics, Inc.\* | 11187 | 820455 |
|  Incyte Corp.\* | 3735 | 316765 |
|  Insmed, Inc.\* | 15939 | 2295375 |
|  Ionis Pharmaceuticals, Inc.\* | 13183 | 862432 |
|  Natera, Inc.\* | 11854 | 1908138 |
|  Neurocrine Biosciences, Inc.\* | 7564 | 1061834 |
|  Sarepta Therapeutics, Inc.\* | 7046 | 135777 |
|  Summit Therapeutics, Inc.(x)\* | 10664 | 220318 |
|  Ultragenyx Pharmaceutical, Inc.\* | 8200 | 246656 |
|  Vertex Pharmaceuticals, Inc.\* | 23480 | 9195707 |

---

See Notes to Portfolio of Investments.

626

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**EQ ADVISORS TRUST** 

EQ/LARGE CAP GROWTH INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Viking Therapeutics, Inc.(x)\* | 785 | $20630 |
|  |  | 74459353 |
|  ***Health Care Equipment & Supplies (1.1%)*** |  |  |
|  Boston Scientific Corp.\* | 23231 | 2268043 |
|  Dexcom, Inc.\* | 35697 | 2402051 |
|  IDEXX Laboratories, Inc.\* | 7368 | 4707342 |
|  Inspire Medical Systems, Inc.\* | 2611 | 193736 |
|  Insulet Corp.\* | 6402 | 1976489 |
|  Intuitive Surgical, Inc.\* | 32584 | 14572542 |
|  Masimo Corp.(x)\* | 4115 | 607168 |
|  Penumbra, Inc.\* | 3414 | 864835 |
|  ResMed, Inc. | 3151 | 862523 |
|  Stryker Corp. | 8082 | 2987673 |
|  |  | 31442402 |
|  ***Health Care Providers & Services (0.6%)*** |  |  |
|  Cardinal Health, Inc. | 10949 | 1718555 |
|  Cencora, Inc. | 16717 | 5224564 |
|  Chemed Corp. | 117 | 52386 |
|  Cigna Group (The) | 1912 | 551134 |
|  DaVita, Inc.\* | 3429 | 455611 |
|  HCA Healthcare, Inc. | 3300 | 1406460 |
|  McKesson Corp. | 10576 | 8170383 |
|  Molina Healthcare, Inc.\* | 2686 | 513993 |
|  |  | 18093086 |
|  ***Health Care Technology (0.2%)*** |  |  |
|  Doximity, Inc., Class A\* | 12188 | 891552 |
|  Veeva Systems, Inc., Class A\* | 10729 | 3196277 |
|  |  | 4087829 |
|  ***Life Sciences Tools & Services (0.1%)*** |  |  |
|  Medpace Holdings, Inc.\* | 2038 | 1047858 |
|  Repligen Corp.\* | 598 | 79935 |
|  Sotera Health Co.\* | 1542 | 24255 |
|  Tempus AI, Inc., Class A(x)\* | 7514 | 606455 |
|  Waters Corp.\* | 2843 | 852360 |
|  |  | 2610863 |
|  ***Pharmaceuticals (2.2%)*** |  |  |
|  Bristol-Myers Squibb Co. | 35797 | 1614445 |
|  Corcept Therapeutics, Inc.\* | 8580 | 713084 |
|  Eli Lilly & Co. | 73144 | 55808872 |
|  Zoetis, Inc. | 32501 | 4755546 |
|  |  | 62891947 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 193585480 |
|  **Industrials (5.9%)** |  |  |
|  ***Aerospace & Defense (1.8%)*** |  |  |
|  Axon Enterprise, Inc.\* | 6810 | 4887128 |
|  Boeing Co. (The)\* | 9362 | 2020600 |
|  BWX Technologies, Inc. | 1465 | 270102 |
|  GE Aerospace | 96009 | 28881427 |
|  HEICO Corp. | 3875 | 1250928 |
|  HEICO Corp., Class A | 6846 | 1739500 |
|  Howmet Aerospace, Inc. | 36610 | 7183980 |
|  Karman Holdings, Inc.\* | 2417 | 174507 |
|  Leonardo DRS, Inc. | 2715 | 123261 |
|  Loar Holdings, Inc.(x)\* | 3520 | 281600 |
|  Lockheed Martin Corp. | 5307 | 2649308 |
|  Rocket Lab Corp.(x)\* | 37772 | 1809657 |
|  Spirit AeroSystems Holdings, Inc., Class A\* | 1157 | 44660 |
|  StandardAero, Inc.\* | 1143 | 31193 |
|  TransDigm Group, Inc. | 882 | 1162494 |
|  |  | 52510345 |
|  ***Building Products (0.4%)*** |  |  |
|  AAON, Inc.(x) | 6135 | 573254 |
|  Armstrong World Industries, Inc. | 1152 | 225803 |
|  Carlisle Cos., Inc. | 460 | 151322 |
|  Lennox International, Inc. | 2899 | 1534615 |
|  Simpson Manufacturing Co., Inc. | 315 | 52750 |
|  Trane Technologies plc | 20353 | 8588152 |
|  |  | 11125896 |
|  ***Commercial Services & Supplies (0.7%)*** |  |  |
|  Cintas Corp. | 31389 | 6442906 |
|  Copart, Inc.\* | 75199 | 3381699 |
|  RB Global, Inc. | 1030 | 111611 |
|  Rollins, Inc. | 25624 | 1505154 |
|  Tetra Tech, Inc. | 4452 | 148608 |
|  Veralto Corp. | 8638 | 920897 |
|  Waste Management, Inc. | 33776 | 7458754 |
|  |  | 19969629 |
|  ***Construction & Engineering (0.3%)*** |  |  |
|  Comfort Systems USA, Inc. | 3176 | 2620771 |
|  EMCOR Group, Inc. | 1395 | 906108 |
|  MasTec, Inc.\* | 1195 | 254308 |
|  Quanta Services, Inc. | 10416 | 4316599 |
|  WillScot Holdings Corp. | 4135 | 87290 |
|  |  | 8185076 |
|  ***Electrical Equipment (0.7%)*** |  |  |
|  GE Vernova, Inc. | 24961 | 15348519 |
|  Rockwell Automation, Inc. | 830 | 290110 |
|  Vertiv Holdings Co., Class A | 34734 | 5239971 |
|  |  | 20878600 |
|  ***Ground Transportation (0.7%)*** |  |  |
|  Avis Budget Group, Inc.(x)\* | 529 | 84944 |
|  Lyft, Inc., Class A\* | 5824 | 128186 |
|  Old Dominion Freight Line, Inc. | 957 | 134726 |
|  Uber Technologies, Inc.\* | 183815 | 18008356 |
|  U-Haul Holding Co. (Nasdaq Stock Exchange)\* | 267 | 15238 |
|  U-Haul Holding Co. (New York Stock Exchange) | 3517 | 179015 |
|  Union Pacific Corp. | 4310 | 1018755 |
|  XPO, Inc.\* | 2155 | 278577 |
|  |  | 19847797 |
|  ***Industrial Conglomerates (0.0%)†*** |  |  |
|  3M Co. | 7834 | 1215680 |
|  ***Machinery (0.2%)*** |  |  |
|  Allison Transmission Holdings, Inc. | 1288 | 109325 |
|  Caterpillar, Inc. | 5204 | 2483089 |
|  Illinois Tool Works, Inc. | 8758 | 2283736 |
|  RBC Bearings, Inc.\* | 574 | 224026 |
|  |  | 5100176 |
|  ***Passenger Airlines (0.0%)†*** |  |  |
|  Alaska Air Group, Inc.\* | 1813 | 90251 |
|  American Airlines Group, Inc.\* | 3751 | 42161 |
|  Southwest Airlines Co. | 4526 | 144425 |
|  |  | 276837 |
|  ***Professional Services (0.7%)*** |  |  |
|  Automatic Data Processing, Inc. | 34492 | 10123402 |
|  Booz Allen Hamilton Holding Corp. | 11097 | 1109145 |
|  Broadridge Financial Solutions, Inc. | 9666 | 2302151 |
|  Dayforce, Inc.\* | 1294 | 89144 |
|  Equifax, Inc. | 1962 | 503312 |
|  ExlService Holdings, Inc.\* | 14446 | 636057 |
|  KBR, Inc. | 883 | 41757 |
|  Paychex, Inc. | 9220 | 1168727 |
|  Paycom Software, Inc. | 2560 | 532839 |
|  Paylocity Holding Corp.\* | 3729 | 593918 |
|  Verisk Analytics, Inc. | 7669 | 1928830 |
|  |  | 19029282 |
|  ***Trading Companies & Distributors (0.4%)*** |  |  |
|  Core & Main, Inc., Class A\* | 10059 | 541476 |
|  Fastenal Co. | 86076 | 4221167 |

---

See Notes to Portfolio of Investments.

627

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP GROWTH INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Ferguson Enterprises, Inc. | 1040 | $233563 |
|  FTAI Aviation Ltd. | 9299 | 1551631 |
|  SiteOne Landscape Supply, Inc.\* | 1298 | 167183 |
|  W.W. Grainger, Inc. | 3453 | 3290571 |
|  |  | 10005591 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 168144909 |
|  **Information Technology (52.3%)** |  |  |
|  ***Communications Equipment (0.6%)*** |  |  |
|  Arista Networks, Inc.\* | 94186 | 13723842 |
|  Lumentum Holdings, Inc.\* | 473 | 76962 |
|  Motorola Solutions, Inc. | 6407 | 2929857 |
|  Ubiquiti, Inc. | 384 | 253663 |
|  |  | 16984324 |
|  ***Electronic Equipment, Instruments & Components (0.5%)*** |  |  |
|  Amphenol Corp., Class A | 110087 | 13623266 |
|  CDW Corp. | 867 | 138096 |
|  Jabil, Inc. | 6284 | 1364696 |
|  |  | 15126058 |
|  ***IT Services (0.6%)*** |  |  |
|  Cloudflare, Inc., Class A\* | 28174 | 6045859 |
|  Gartner, Inc.\* | 6840 | 1798031 |
|  Globant SA\* | 383 | 21976 |
|  GoDaddy, Inc., Class A\* | 12549 | 1717080 |
|  Kyndryl Holdings, Inc.\* | 1369 | 41111 |
|  MongoDB, Inc.\* | 686 | 212921 |
|  Okta, Inc.\* | 5924 | 543231 |
|  Snowflake, Inc., Class A\* | 28537 | 6436520 |
|  Twilio, Inc., Class A\* | 2205 | 220698 |
|  |  | 17037427 |
|  ***Semiconductors & Semiconductor Equipment (19.9%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 86007 | 13915072 |
|  Applied Materials, Inc. | 20771 | 4252655 |
|  Astera Labs, Inc.\* | 11501 | 2251896 |
|  Broadcom, Inc. | 402420 | 132762382 |
|  Enphase Energy, Inc.\* | 11620 | 411232 |
|  Entegris, Inc. | 2229 | 206093 |
|  KLA Corp. | 12150 | 13104990 |
|  Lam Research Corp. | 116741 | 15631620 |
|  Lattice Semiconductor Corp.\* | 10560 | 774259 |
|  MACOM Technology Solutions Holdings, Inc.\* | 1433 | 178394 |
|  Marvell Technology, Inc. | 5508 | 463058 |
|  Monolithic Power Systems, Inc. | 4226 | 3890625 |
|  NVIDIA Corp. | 2000747 | 373299375 |
|  Onto Innovation, Inc.\* | 988 | 127669 |
|  QUALCOMM, Inc. | 22548 | 3751085 |
|  Texas Instruments, Inc. | 33949 | 6237450 |
|  |  | 571257855 |
|  ***Software (19.4%)*** |  |  |
|  Adobe, Inc.\* | 38857 | 13706807 |
|  Appfolio, Inc., Class A\* | 2007 | 553250 |
|  AppLovin Corp., Class A\* | 21767 | 15640460 |
|  Atlassian Corp., Class A\* | 14776 | 2359727 |
|  Autodesk, Inc.\* | 19451 | 6178999 |
|  Bentley Systems, Inc., Class B | 14370 | 739768 |
|  Cadence Design Systems, Inc.\* | 24911 | 8750238 |
|  Circle Internet Group, Inc., Class A\* | 669 | 88696 |
|  Confluent, Inc., Class A\* | 25272 | 500386 |
|  Crowdstrike Holdings, Inc., Class A\* | 22298 | 10934493 |
|  Datadog, Inc., Class A\* | 28165 | 4010696 |
|  Docusign, Inc.\* | 13855 | 998807 |
|  Dropbox, Inc., Class A\* | 4486 | 135522 |
|  Dynatrace, Inc.\* | 26807 | 1298799 |
|  Elastic NV\* | 8277 | 699324 |
|  Fair Isaac Corp.\* | 1764 | 2639879 |
|  Fortinet, Inc.\* | 58092 | 4884375 |
|  Gen Digital, Inc. | 5448 | 154669 |
|  Gitlab, Inc., Class A(x)\* | 12123 | 546505 |
|  Guidewire Software, Inc.\* | 7645 | 1757280 |
|  HubSpot, Inc.\* | 4642 | 2171528 |
|  Intuit, Inc. | 24929 | 17024263 |
|  Manhattan Associates, Inc.\* | 5473 | 1121856 |
|  Microsoft Corp.# | 635018 | 328907573 |
|  nCino, Inc.(x)\* | 1367 | 37059 |
|  Nutanix, Inc., Class A\* | 5730 | 426255 |
|  Oracle Corp. | 151179 | 42517582 |
|  Palantir Technologies, Inc., Class A\* | 199430 | 36380021 |
|  Palo Alto Networks, Inc.\* | 59973 | 12211702 |
|  Pegasystems, Inc.(x) | 2632 | 151340 |
|  Procore Technologies, Inc.\* | 10461 | 762816 |
|  PTC, Inc.\* | 1258 | 255399 |
|  RingCentral, Inc., Class A\* | 7309 | 207137 |
|  Rubrik, Inc., Class A\* | 6337 | 521218 |
|  Salesforce, Inc. | 9548 | 2262876 |
|  Samsara, Inc., Class A\* | 24492 | 912327 |
|  SentinelOne, Inc., Class A\* | 19199 | 338094 |
|  ServiceNow, Inc.\* | 18870 | 17365684 |
|  Strategy, Inc.\* | 1335 | 430150 |
|  Synopsys, Inc.\* | 12369 | 6102741 |
|  Teradata Corp.\* | 1979 | 42568 |
|  Tyler Technologies, Inc.\* | 3259 | 1704979 |
|  Unity Software, Inc.\* | 1685 | 67467 |
|  Workday, Inc., Class A\* | 19644 | 4728900 |
|  Zscaler, Inc.\* | 8914 | 2671169 |
|  |  | 555901384 |
|  ***Technology Hardware, Storage & Peripherals (11.3%)*** |  |  |
|  Apple, Inc. | 1250578 | 318434676 |
|  Dell Technologies, Inc., Class C | 3774 | 535040 |
|  NetApp, Inc. | 7202 | 853149 |
|  Pure Storage, Inc., Class A\* | 24307 | 2037170 |
|  Super Micro Computer, Inc.(x)\* | 21489 | 1030182 |
|  |  | 322890217 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 1499197265 |
|  **Materials (0.3%)** |  |  |
|  ***Chemicals (0.3%)*** |  |  |
|  Ecolab, Inc. | 5583 | 1528960 |
|  Sherwin-Williams Co. (The) | 19303 | 6683857 |
|  |  | 8212817 |
|  ***Construction Materials (0.0%)†*** |  |  |
|  Eagle Materials, Inc. | 179 | 41714 |
|  James Hardie Industries plc (ADR)(x)\* | 8240 | 158291 |
|  |  | 200005 |
|  ***Metals & Mining (0.0%)†*** |  |  |
|  Anglogold Ashanti plc | 5576 | 392160 |
|  Carpenter Technology Corp. | 777 | 190784 |
|  Steel Dynamics, Inc. | 1230 | 171499 |
|  |  | 754443 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 9167265 |
|  **Real Estate (0.4%)** |  |  |
|  ***Real Estate Management & Development (0.0%)†*** |  |  |
|  CBRE Group, Inc., Class A\* | 2982 | 469844 |
|  CoStar Group, Inc.\* | 4724 | 398564 |
|  Jones Lang LaSalle, Inc.\* | 1160 | 346004 |
|  |  | 1214412 |
|  ***Residential REITs (0.0%)†*** |  |  |
|  Sun Communities, Inc. (REIT) | 2209 | 284961 |
|  UDR, Inc. (REIT) | 1649 | 61442 |
|  |  | 346403 |
|  ***Retail REITs (0.1%)*** |  |  |
|  Simon Property Group, Inc. (REIT) | 6564 | 1231866 |

---

See Notes to Portfolio of Investments.

628

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP GROWTH INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  ***Specialized REITs (0.3%)*** |  |  |
|  American Tower Corp. (REIT) | 42706 | $8213218 |
|  Lamar Advertising Co. (REIT), Class A | 8099 | 991480 |
|  Public Storage (REIT) | 1898 | 548237 |
|  |  | 9752935 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 12545616 |
|  **Utilities (0.3%)** |  |  |
|  ***Electric Utilities (0.1%)*** |  |  |
|  NRG Energy, Inc. | 17369 | 2812910 |
|  ***Independent Power and Renewable Electricity Producers (0.2%)*** |  |  |
|  Vistra Corp. | 30921 | 6058042 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 8870952 |
|  **Total Common Stocks (99.3%)**<br> *(Cost $587,177,047)* |  | 2847628386 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.0%)†** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 1212564 | 1212564 |
|  **Total Short-Term Investments (0.0%)†**<br> *(Cost $1,212,564)* |  | 1212564 |
|  **Total Investments in Securities (99.3%)**<br>*(Cost $588,389,611)* |  | 2848840950 |
|  **Other Assets Less Liabilities (0.7%)** |  | 18871182 |
|  **Net Assets (100%)** |  | $2867712132 |

---

*\** *Non-income producing.* 

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

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

*#* *All, or a portion of security held by broker as collateral for financial futures contracts, with a total collateral value of $10,359,000.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $8,612,020. This was collateralized by $7,573,248 of various U.S. Government Treasury Securities, ranging from 0.000% – 5.375%, maturing 10/23/25 – 2/15/55 and by cash of $1,212,564 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

629

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP GROWTH INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,**<br>**2025** | **Market Value**<br>**December 31,<br>2024 ($)** | **Purchases**<br>**at**<br>**Cost ($)** | **Proceeds**<br>**from**<br>**Sales ($)** | **Net**<br>**Realized**<br>**Gain**<br>**(Loss) ($)** | **Change in**<br>**Unrealized**<br>**Appreciation/**<br>**(Depreciation)**<br>**($)** | **Market Value**<br>**September 30,**<br>**2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain**<br>**Distributions<br>($)** |
|  COMMON STOCKS: |  |  |  |  |  |  |  |  |  |
|  **Financials** |  |  |  |  |  |  |  |  |  |
|  **Financial Services** |  |  |  |  |  |  |  |  |  |
|  Equitable Holdings, Inc. | 26838 | 1359722 | 8787 | (108828) | 49488 | 53665 | 1362834 | 21264 |  |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  S&P 500 E-Mini Index | 60 | 12/2025 | USD | 20216250 | 270360 |
|  |  |  |  |  | 270360 |

---

See Notes to Portfolio of Investments.

630

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP GROWTH INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $327212067 | $— | $— | $327212067 |
|  Consumer Discretionary | 375788387 |  |  | 375788387 |
|  Consumer Staples | 68849263 |  |  | 68849263 |
|  Energy | 8236470 |  |  | 8236470 |
|  Financials | 176030712 |  |  | 176030712 |
|  Health Care | 193585480 |  |  | 193585480 |
|  Industrials | 168144909 |  |  | 168144909 |
|  Information Technology | 1499197265 |  |  | 1499197265 |
|  Materials | 9167265 |  |  | 9167265 |
|  Real Estate | 12545616 |  |  | 12545616 |
|  Utilities | 8870952 |  |  | 8870952 |
|  Futures | 270360 |  |  | 270360 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 1212564 |  |  | 1212564 |
|  **Total Assets** | $**2849111310** | $**—** | $**—** | $**2849111310** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**2849111310** | $**—** | $**—** | $**2849111310** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $2271310611 |
|  Aggregate gross unrealized depreciation | (10434606) |
|  Net unrealized appreciation | $2260876005 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $588235305 |

---

See Notes to Portfolio of Investments.

631

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**EQ ADVISORS TRUST** 

EQ/LARGE CAP GROWTH MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (8.8%)** |  |  |
|  ***Diversified Telecommunication Services (0.0%)†*** |  |  |
|  AST SpaceMobile, Inc., Class A\* | 11011 | $540420 |
|  GCI Liberty, Inc., Class C\* | 1091 | 40662 |
|  Iridium Communications, Inc. | 1144 | 19974 |
|  |  | 601056 |
|  ***Entertainment (2.5%)*** |  |  |
|  Liberty Media Corp.-Liberty |  |  |
|  Formula One, Class A\* | 429 | 40849 |
|  Liberty Media Corp.-Liberty |  |  |
|  Formula One, Class C\* | 3962 | 413831 |
|  Live Nation Entertainment, Inc.\* | 9800 | 1601320 |
|  Netflix, Inc.\* | 68525 | 82155993 |
|  ROBLOX Corp., Class A\* | 80441 | 11142687 |
|  Roku, Inc.\* | 1019 | 102032 |
|  Spotify Technology SA\* | 11123 | 7763854 |
|  Take-Two Interactive Software, Inc.\* | 3850 | 994686 |
|  TKO Group Holdings, Inc., Class A | 1783 | 360095 |
|  Walt Disney Co. (The) | 123079 | 14092546 |
|  |  | 118667893 |
|  ***Interactive Media & Services (6.3%)*** |  |  |
|  Alphabet, Inc., Class A | 340242 | 82712830 |
|  Alphabet, Inc., Class C | 317660 | 77366093 |
|  Meta Platforms, Inc., Class A | 189748 | 139347136 |
|  Pinterest, Inc., Class A\* | 18916 | 608528 |
|  Reddit, Inc., Class A\* | 7219 | 1660298 |
|  Trump Media & Technology Group Corp.\* | 5614 | 92182 |
|  |  | 301787067 |
|  ***Media (0.0%)†*** |  |  |
|  DoubleVerify Holdings, Inc.\* | 3980 | 47680 |
|  Liberty Broadband Corp., Class A\* | 642 | 40658 |
|  Liberty Broadband Corp., Class C\* | 1442 | 91625 |
|  Nexstar Media Group, Inc., Class A | 199 | 39350 |
|  NIQ Global Intelligence plc\* | 2085 | 32735 |
|  Trade Desk, Inc. (The), Class A\* | 27634 | 1354342 |
|  |  | 1606390 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 422662406 |
|  **Consumer Discretionary (9.6%)** |  |  |
|  ***Automobile Components (0.1%)*** |  |  |
|  Mobileye Global, Inc., Class A\* | 280229 | 3956833 |
|  ***Automobiles (2.8%)*** |  |  |
|  Tesla, Inc.\* | 304260 | 135310507 |
|  ***Broadline Retail (3.5%)*** |  |  |
|  Alibaba Group Holding Ltd. (ADR) | 42333 | 7566177 |
|  Amazon.com, Inc.\* | 670040 | 147120683 |
|  Coupang, Inc., Class A\* | 76887 | 2475761 |
|  Etsy, Inc.\* | 3606 | 239402 |
|  MercadoLibre, Inc.\* | 2203 | 5148279 |
|  Sea Ltd. (ADR)\* | 31012 | 5542775 |
|  |  | 168093077 |
|  ***Distributors (0.0%)†*** |  |  |
|  Pool Corp. | 408 | 126509 |
|  ***Diversified Consumer Services (0.0%)†*** |  |  |
|  Bright Horizons Family Solutions, Inc.\* | 448 | 48640 |
|  Duolingo, Inc., Class A\* | 2423 | 779818 |
|  Grand Canyon Education, Inc.\* | 476 | 104492 |
|  H&R Block, Inc. | 1362 | 68876 |
|  |  | 1001826 |
|  ***Hotels, Restaurants & Leisure (2.0%)*** |  |  |
|  Airbnb, Inc., Class A\* | 65494 | 7952281 |
|  Booking Holdings, Inc. | 2839 | 15328528 |
|  Carnival Corp.\* | 21523 | 622230 |
|  Cava Group, Inc.\* | 6075 | 366991 |
|  Chipotle Mexican Grill, Inc.\* | 83068 | 3255435 |
|  Choice Hotels International, Inc. | 502 | 53669 |
|  Churchill Downs, Inc. | 3337 | 323722 |
|  Darden Restaurants, Inc. | 6872 | 1308154 |
|  Domino's Pizza, Inc. | 587 | 253414 |
|  DoorDash, Inc., Class A\* | 57176 | 15551300 |
|  DraftKings, Inc., Class A\* | 29761 | 1113061 |
|  Dutch Bros, Inc., Class A\* | 7658 | 400820 |
|  Expedia Group, Inc. | 7493 | 1601629 |
|  Flutter Entertainment plc, Class DI\* | 8976 | 2279904 |
|  Hilton Worldwide Holdings, Inc. | 14292 | 3707916 |
|  Las Vegas Sands Corp. | 19530 | 1050519 |
|  Light & Wonder, Inc.\* | 5039 | 422974 |
|  Marriott International, Inc., Class A | 10816 | 2816919 |
|  McDonald's Corp. | 11675 | 3547916 |
|  Norwegian Cruise Line Holdings Ltd.\* | 25775 | 634838 |
|  Planet Fitness, Inc., Class A\* | 5109 | 530314 |
|  Restaurant Brands International, Inc. | 12772 | 819196 |
|  Royal Caribbean Cruises Ltd. | 15690 | 5076970 |
|  Starbucks Corp. | 182990 | 15480954 |
|  Texas Roadhouse, Inc., Class A | 4262 | 708131 |
|  Travel + Leisure Co. | 1255 | 74660 |
|  Vail Resorts, Inc. | 1784 | 266833 |
|  Viking Holdings Ltd.\* | 10793 | 670893 |
|  Wendy's Co. (The) | 4343 | 39782 |
|  Wingstop, Inc. | 1691 | 425591 |
|  Wyndham Hotels & Resorts, Inc. | 4140 | 330786 |
|  Yum China Holdings, Inc. | 90269 | 3874345 |
|  Yum! Brands, Inc. | 36542 | 5554384 |
|  |  | 96445059 |
|  ***Household Durables (0.1%)*** |  |  |
|  DR Horton, Inc. | 14972 | 2537305 |
|  SharkNinja, Inc.\* | 1067 | 110061 |
|  Somnigroup International, Inc. | 12519 | 1055727 |
|  TopBuild Corp.\* | 125 | 48858 |
|  |  | 3751951 |
|  ***Specialty Retail (1.0%)*** |  |  |
|  AutoZone, Inc.\* | 605 | 2595595 |
|  Burlington Stores, Inc.\* | 3892 | 990514 |
|  Carvana Co.\* | 20381 | 7688528 |
|  Chewy, Inc., Class A\* | 13769 | 556956 |
|  Floor & Decor Holdings, Inc., Class A\* | 2061 | 151896 |
|  Home Depot, Inc. (The) | 46990 | 19039878 |
|  Lithia Motors, Inc., Class A | 175 | 55300 |
|  Murphy USA, Inc. | 1095 | 425145 |
|  O'Reilly Automotive, Inc.\* | 48505 | 5229324 |
|  RH\* | 188 | 38194 |
|  Ross Stores, Inc. | 3920 | 597369 |
|  TJX Cos., Inc. (The) | 34634 | 5005998 |
|  Tractor Supply Co. | 32920 | 1872160 |
|  Ulta Beauty, Inc.\* | 745 | 407329 |
|  Valvoline, Inc.\* | 6854 | 246127 |
|  Wayfair, Inc., Class A\* | 1024 | 91474 |
|  Williams-Sonoma, Inc. | 1077 | 210500 |
|  |  | 45202287 |
|  ***Textiles, Apparel & Luxury Goods (0.1%)*** |  |  |
|  Birkenstock Holding plc\* | 970 | 43893 |
|  Deckers Outdoor Corp.\* | 9193 | 931894 |
|  Lululemon Athletica, Inc.\* | 3702 | 658697 |
|  On Holding AG, Class A\* | 14308 | 605944 |
|  Ralph Lauren Corp. | 175 | 54873 |
|  Tapestry, Inc. | 11746 | 1329882 |

---

See Notes to Portfolio of Investments.

632

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP GROWTH MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Under Armour, Inc., Class A\* | 363264 | $1812687 |
|  |  | 5437870 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 459325919 |
|  **Consumer Staples (1.9%)** |  |  |
|  ***Beverages (0.8%)*** |  |  |
|  Boston Beer Co., Inc. (The), Class A\* | 12554 | 2654167 |
|  Celsius Holdings, Inc.\* | 10692 | 614683 |
|  Coca-Cola Co. (The) | 166240 | 11025037 |
|  Coca-Cola Consolidated, Inc. | 431 | 50496 |
|  Monster Beverage Corp.\* | 356798 | 24016073 |
|  PepsiCo, Inc. | 11621 | 1632053 |
|  |  | 39992509 |
|  ***Consumer Staples Distribution & Retail (0.8%)*** |  |  |
|  BJ's Wholesale Club Holdings, Inc.\* | 1177 | 109755 |
|  Casey's General Stores, Inc. | 337 | 190513 |
|  Costco Wholesale Corp. | 27487 | 25442792 |
|  Performance Food Group Co.\* | 1149 | 119542 |
|  Sprouts Farmers Market, Inc.\* | 6257 | 680761 |
|  Sysco Corp. | 16090 | 1324851 |
|  Walmart, Inc. | 124599 | 12841173 |
|  |  | 40709387 |
|  ***Food Products (0.0%)†*** |  |  |
|  Darling Ingredients, Inc.\* | 1067 | 32938 |
|  Freshpet, Inc.\* | 802 | 44198 |
|  Hershey Co. (The) | 1254 | 234561 |
|  |  | 311697 |
|  ***Household Products (0.1%)*** |  |  |
|  Colgate-Palmolive Co. | 23595 | 1886185 |
|  Kimberly-Clark Corp. | 7591 | 943865 |
|  |  | 2830050 |
|  ***Tobacco (0.2%)*** |  |  |
|  Philip Morris International, Inc. | 53165 | 8623363 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 92467006 |
|  **Energy (0.1%)** |  |  |
|  ***Energy Equipment & Services (0.0%)†*** |  |  |
|  Schlumberger NV | 7270 | 249870 |
|  ***Oil, Gas & Consumable Fuels (0.1%)*** |  |  |
|  Cheniere Energy, Inc. | 12758 | 2997875 |
|  HF Sinclair Corp. | 966 | 50560 |
|  Phillips 66 | 1774 | 241300 |
|  Targa Resources Corp. | 13299 | 2228114 |
|  Texas Pacific Land Corp. | 1191 | 1111965 |
|  Williams Cos., Inc. (The) | 3932 | 249092 |
|  |  | 6878906 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 7128776 |
|  **Financials (5.4%)** |  |  |
|  ***Banks (0.1%)*** |  |  |
|  Bank of America Corp. | 33192 | 1712375 |
|  Citigroup, Inc. | 20185 | 2048777 |
|  NU Holdings Ltd., Class A\* | 207145 | 3316391 |
|  Pinnacle Financial Partners, Inc. | 321 | 30107 |
|  Popular, Inc. | 369 | 46867 |
|  Western Alliance Bancorp | 1375 | 119240 |
|  |  | 7273757 |
|  ***Capital Markets (1.6%)*** |  |  |
|  Ameriprise Financial, Inc. | 5161 | 2535341 |
|  Ares Management Corp., Class A | 11652 | 1863038 |
|  Bank of New York Mellon Corp. (The) | 3165 | 344858 |
|  Blackstone, Inc. | 58562 | 10005318 |
|  Blue Owl Capital, Inc., Class A | 39198 | 663622 |
|  Brookfield Asset Management Ltd., Class A | 8695 | 495093 |
|  Charles Schwab Corp. (The) | 44626 | 4260444 |
|  Coinbase Global, Inc., Class A\* | 1343 | 453249 |
|  FactSet Research Systems, Inc. | 14595 | 4181322 |
|  Freedom Holding Corp.\* | 914 | 157327 |
|  Goldman Sachs Group, Inc. (The) | 10442 | 8315487 |
|  Hamilton Lane, Inc., Class A | 1587 | 213912 |
|  Houlihan Lokey, Inc., Class A | 1255 | 257677 |
|  Interactive Brokers Group, Inc., Class A | 1377 | 94751 |
|  Intercontinental Exchange, Inc. | 8141 | 1371596 |
|  Jefferies Financial Group, Inc. | 2277 | 148961 |
|  KKR & Co., Inc. | 15136 | 1966923 |
|  Lazard, Inc. | 1297 | 68456 |
|  LPL Financial Holdings, Inc. | 4934 | 1641492 |
|  Moody's Corp. | 9627 | 4587073 |
|  Morningstar, Inc. | 972 | 225514 |
|  MSCI, Inc. | 29248 | 16595608 |
|  Robinhood Markets, Inc., Class A\* | 45504 | 6515263 |
|  SEI Investments Co. | 90210 | 7654319 |
|  TPG, Inc., Class A | 8021 | 460806 |
|  Tradeweb Markets, Inc., Class A | 596 | 66144 |
|  XP, Inc., Class A | 2181 | 40981 |
|  |  | 75184575 |
|  ***Consumer Finance (0.2%)*** |  |  |
|  Ally Financial, Inc. | 1980 | 77616 |
|  American Express Co. | 11153 | 3704581 |
|  Credit Acceptance Corp.\* | 74 | 34553 |
|  SLM Corp. | 1755 | 48578 |
|  SoFi Technologies, Inc.\* | 135767 | 3586964 |
|  |  | 7452292 |
|  ***Financial Services (3.2%)*** |  |  |
|  Affirm Holdings, Inc., Class A\* | 10143 | 741250 |
|  Apollo Global Management, Inc. | 17780 | 2369541 |
|  Berkshire Hathaway, Inc., Class B\* | 4083 | 2052687 |
|  Block, Inc., Class A\* | 82350 | 5951435 |
|  Corpay, Inc.\* | 4263 | 1228000 |
|  Fiserv, Inc.\* | 9279 | 1196341 |
|  Mastercard, Inc., Class A | 102651 | 58388915 |
|  PayPal Holdings, Inc.\* | 64954 | 4355815 |
|  Shift4 Payments, Inc., Class A\* | 4041 | 312773 |
|  Toast, Inc., Class A\* | 28454 | 1038856 |
|  UWM Holdings Corp., Class A | 1039 | 6328 |
|  Visa, Inc., Class A | 219985 | 75098479 |
|  |  | 152740420 |
|  ***Insurance (0.3%)*** |  |  |
|  Aon plc, Class A | 32056 | 11430528 |
|  Arthur J Gallagher & Co. | 940 | 291156 |
|  Brown & Brown, Inc. | 1776 | 166571 |
|  Everest Group Ltd. | 360 | 126083 |
|  Kinsale Capital Group, Inc. | 1437 | 611099 |
|  Markel Group, Inc.\* | 155 | 296261 |
|  Marsh & McLennan Cos., Inc. | 3757 | 757148 |
|  Progressive Corp. (The) | 1790 | 442040 |
|  RLI Corp. | 581 | 37893 |
|  Ryan Specialty Holdings, Inc., Class A | 6391 | 360197 |
|  |  | 14518976 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 257170020 |
|  **Health Care (6.3%)** |  |  |
|  ***Biotechnology (2.3%)*** |  |  |
|  AbbVie, Inc. | 130074 | 30117334 |

---

See Notes to Portfolio of Investments.

633

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP GROWTH MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Alnylam Pharmaceuticals, Inc.\* | 66082 | $30133392 |
|  Amgen, Inc. | 24570 | 6933654 |
|  Apellis Pharmaceuticals, Inc.\* | 6563 | 148521 |
|  Caris Life Sciences, Inc.\* | 1156 | 34969 |
|  CRISPR Therapeutics AG\* | 59131 | 3832280 |
|  Exact Sciences Corp.\* | 727 | 39774 |
|  Exelixis, Inc.\* | 13765 | 568495 |
|  Gilead Sciences, Inc. | 51078 | 5669658 |
|  Halozyme Therapeutics, Inc.\* | 7460 | 547116 |
|  Incyte Corp.\* | 2491 | 211262 |
|  Insmed, Inc.\* | 59473 | 8564707 |
|  Ionis Pharmaceuticals, Inc.\* | 8791 | 575107 |
|  Natera, Inc.\* | 30132 | 4850348 |
|  Neurocrine Biosciences, Inc.\* | 5317 | 746401 |
|  Regeneron Pharmaceuticals, Inc. | 20697 | 11637302 |
|  Sarepta Therapeutics, Inc.\* | 4698 | 90530 |
|  Summit Therapeutics, Inc.\* | 7111 | 146913 |
|  Ultragenyx Pharmaceutical, Inc.\* | 5468 | 164477 |
|  Vertex Pharmaceuticals, Inc.\* | 15926 | 6237259 |
|  Viking Therapeutics, Inc.\* | 1147 | 30143 |
|  |  | 111279642 |
|  ***Health Care Equipment & Supplies (1.1%)*** |  |  |
|  Abbott Laboratories | 100538 | 13466060 |
|  Boston Scientific Corp.\* | 66897 | 6531154 |
|  Dexcom, Inc.\* | 24213 | 1629293 |
|  IDEXX Laboratories, Inc.\* | 16835 | 10755713 |
|  Inspire Medical Systems, Inc.\* | 1741 | 129182 |
|  Insulet Corp.\* | 4342 | 1340506 |
|  Intuitive Surgical, Inc.\* | 36268 | 16220137 |
|  Masimo Corp.\* | 2743 | 404730 |
|  Penumbra, Inc.\* | 2423 | 613794 |
|  ResMed, Inc. | 2244 | 614250 |
|  Stryker Corp. | 5482 | 2026531 |
|  |  | 53731350 |
|  ***Health Care Providers & Services (0.4%)*** |  |  |
|  Cardinal Health, Inc. | 7427 | 1165742 |
|  Cencora, Inc. | 11339 | 3543778 |
|  Chemed Corp. | 82 | 36715 |
|  Cigna Group (The) | 1295 | 373284 |
|  DaVita, Inc.\* | 2328 | 309321 |
|  HCA Healthcare, Inc. | 2252 | 959802 |
|  Hims & Hers Health, Inc.\* | 40867 | 2317976 |
|  McKesson Corp. | 10359 | 8002742 |
|  Molina Healthcare, Inc.\* | 1791 | 342726 |
|  |  | 17052086 |
|  ***Health Care Technology (0.7%)*** |  |  |
|  Doximity, Inc., Class A\* | 228908 | 16744620 |
|  Veeva Systems, Inc., Class A\* | 51908 | 15463913 |
|  |  | 32208533 |
|  ***Life Sciences Tools & Services (0.1%)*** |  |  |
|  Illumina, Inc.\* | 39108 | 3714087 |
|  Medpace Holdings, Inc.\* | 1390 | 714682 |
|  Repligen Corp.\* | 399 | 53334 |
|  Sotera Health Co.\* | 925 | 14550 |
|  Tempus AI, Inc., Class A\* | 5011 | 404438 |
|  Waters Corp.\* | 2024 | 606816 |
|  |  | 5507907 |
|  ***Pharmaceuticals (1.7%)*** |  |  |
|  Bristol-Myers Squibb Co. | 24281 | 1095073 |
|  Corcept Therapeutics, Inc.\* | 5722 | 475555 |
|  Eli Lilly & Co. | 64999 | 49594237 |
|  Johnson & Johnson | 9235 | 1712354 |
|  Novartis AG (ADR) | 36597 | 4693199 |
|  Novo Nordisk A/S (ADR) | 152440 | 8458896 |
|  Roche Holding AG (ADR) | 110632 | 4625524 |
|  Zoetis, Inc. | 92038 | 13467000 |
|  |  | 84121838 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 303901356 |
|  **Industrials (4.2%)** |  |  |
|  ***Aerospace & Defense (1.5%)*** |  |  |
|  Axon Enterprise, Inc.\* | 4619 | 3314779 |
|  Boeing Co. (The)\* | 134043 | 28930501 |
|  BWX Technologies, Inc. | 977 | 180130 |
|  GE Aerospace | 86259 | 25948432 |
|  HEICO Corp. | 2703 | 872582 |
|  HEICO Corp., Class A | 4644 | 1179994 |
|  Howmet Aerospace, Inc. | 24832 | 4872783 |
|  Karman Holdings, Inc.\* | 1614 | 116531 |
|  Leonardo DRS, Inc. | 1810 | 82174 |
|  Loar Holdings, Inc.\* | 2347 | 187760 |
|  Lockheed Martin Corp. | 3600 | 1797156 |
|  Rocket Lab Corp.\* | 25620 | 1227454 |
|  RTX Corp. | 13878 | 2322206 |
|  Spirit AeroSystems Holdings, Inc., Class A\* | 905 | 34933 |
|  StandardAero, Inc.\* | 1207 | 32939 |
|  TransDigm Group, Inc. | 1844 | 2430429 |
|  |  | 73530783 |
|  ***Air Freight & Logistics (0.1%)*** |  |  |
|  Expeditors International of Washington, Inc. | 45769 | 5610822 |
|  ***Building Products (0.2%)*** |  |  |
|  AAON, Inc. | 4091 | 382263 |
|  Armstrong World Industries, Inc. | 769 | 150732 |
|  Carlisle Cos., Inc. | 307 | 100991 |
|  Lennox International, Inc. | 1967 | 1041251 |
|  Simpson Manufacturing Co., Inc. | 231 | 38683 |
|  Trane Technologies plc | 17838 | 7526922 |
|  |  | 9240842 |
|  ***Commercial Services & Supplies (0.3%)*** |  |  |
|  Cintas Corp. | 21291 | 4370191 |
|  Copart, Inc.\* | 51007 | 2293785 |
|  RB Global, Inc. | 687 | 74443 |
|  Rollins, Inc. | 17380 | 1020901 |
|  Tetra Tech, Inc. | 3020 | 100808 |
|  Veralto Corp. | 6115 | 651920 |
|  Waste Management, Inc. | 22910 | 5059215 |
|  |  | 13571263 |
|  ***Construction & Engineering (0.2%)*** |  |  |
|  Comfort Systems USA, Inc. | 2154 | 1777438 |
|  EMCOR Group, Inc. | 991 | 643694 |
|  MasTec, Inc.\* | 797 | 169610 |
|  Quanta Services, Inc. | 13996 | 5800222 |
|  WillScot Holdings Corp. | 2758 | 58221 |
|  |  | 8449185 |
|  ***Electrical Equipment (0.4%)*** |  |  |
|  Eaton Corp. plc | 938 | 351046 |
|  GE Vernova, Inc. | 27944 | 17182765 |
|  Rockwell Automation, Inc. | 554 | 193640 |
|  Vertiv Holdings Co., Class A | 23560 | 3554262 |
|  |  | 21281713 |
|  ***Ground Transportation (0.5%)*** |  |  |
|  Avis Budget Group, Inc.\* | 353 | 56683 |
|  Lyft, Inc., Class A\* | 3884 | 85487 |
|  Old Dominion Freight Line, Inc. | 638 | 89818 |
|  Uber Technologies, Inc.\* | 223141 | 21861124 |
|  U-Haul Holding Co. (Nasdaq Stock Exchange)\* | 680 | 38807 |

---

See Notes to Portfolio of Investments.

634

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP GROWTH MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  U-Haul Holding Co. (New York Stock Exchange) | 2345 | $119360 |
|  Union Pacific Corp. | 3051 | 721165 |
|  XPO, Inc.\* | 1437 | 185761 |
|  |  | 23158205 |
|  ***Industrial Conglomerates (0.2%)*** |  |  |
|  3M Co. | 52460 | 8140743 |
|  ***Machinery (0.3%)*** |  |  |
|  Allison Transmission Holdings, Inc. | 869 | 73761 |
|  Caterpillar, Inc. | 3530 | 1684340 |
|  Deere & Co. | 18055 | 8255829 |
|  Illinois Tool Works, Inc. | 5941 | 1549175 |
|  RBC Bearings, Inc.\* | 383 | 149481 |
|  |  | 11712586 |
|  ***Passenger Airlines (0.0%)†*** |  |  |
|  Alaska Air Group, Inc.\* | 1289 | 64167 |
|  American Airlines Group, Inc.\* | 2933 | 32967 |
|  Southwest Airlines Co. | 3275 | 104505 |
|  |  | 201639 |
|  ***Professional Services (0.4%)*** |  |  |
|  Automatic Data Processing, Inc. | 23395 | 6866432 |
|  Booz Allen Hamilton Holding Corp. | 7604 | 760020 |
|  Broadridge Financial Solutions, Inc. | 6556 | 1561442 |
|  Dayforce, Inc.\* | 854 | 58832 |
|  Equifax, Inc. | 1308 | 335541 |
|  ExlService Holdings, Inc.\* | 9633 | 424141 |
|  KBR, Inc. | 788 | 37265 |
|  Paychex, Inc. | 6254 | 792757 |
|  Paycom Software, Inc. | 23755 | 4944366 |
|  Paylocity Holding Corp.\* | 2517 | 400883 |
|  Verisk Analytics, Inc. | 5202 | 1308355 |
|  |  | 17490034 |
|  ***Trading Companies & Distributors (0.1%)*** |  |  |
|  Core & Main, Inc., Class A\* | 6708 | 361092 |
|  Fastenal Co. | 58384 | 2863151 |
|  Ferguson Enterprises, Inc. | 694 | 155859 |
|  FTAI Aviation Ltd. | 6308 | 1052553 |
|  SiteOne Landscape Supply, Inc.\* | 865 | 111412 |
|  W.W. Grainger, Inc. | 2342 | 2231832 |
|  |  | 6775899 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 199163714 |
|  **Information Technology (31.5%)** |  |  |
|  ***Communications Equipment (0.3%)*** |  |  |
|  Arista Networks, Inc.\* | 84553 | 12320218 |
|  Lumentum Holdings, Inc.\* | 359 | 58413 |
|  Motorola Solutions, Inc. | 4346 | 1987382 |
|  Ubiquiti, Inc. | 256 | 169108 |
|  |  | 14535121 |
|  ***Electronic Equipment, Instruments & Components (0.3%)*** |  |  |
|  Amphenol Corp., Class A | 103858 | 12852427 |
|  CDW Corp. | 578 | 92064 |
|  Celestica, Inc.\* | 7861 | 1936793 |
|  Jabil, Inc. | 4369 | 948816 |
|  |  | 15830100 |
|  ***IT Services (1.5%)*** |  |  |
|  Accenture plc, Class A | 24313 | 5995586 |
|  Cloudflare, Inc., Class A\* | 39465 | 8468794 |
|  Gartner, Inc.\* | 4640 | 1219717 |
|  Globant SA\* | 435 | 24960 |
|  GoDaddy, Inc., Class A\* | 8512 | 1164697 |
|  International Business Machines Corp. | 26875 | 7583050 |
|  Kyndryl Holdings, Inc.\* | 930 | 27928 |
|  MongoDB, Inc.\* | 458 | 142154 |
|  Okta, Inc.\* | 3951 | 362307 |
|  Shopify, Inc., Class A\* | 259565 | 38573955 |
|  Snowflake, Inc., Class A\* | 25702 | 5797086 |
|  Twilio, Inc., Class A\* | 14921 | 1493443 |
|  |  | 70853677 |
|  ***Semiconductors & Semiconductor Equipment (11.5%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 58337 | 9438343 |
|  Applied Materials, Inc. | 14088 | 2884377 |
|  ARM Holdings plc (ADR)\* | 93163 | 13181633 |
|  Astera Labs, Inc.\* | 7801 | 1527436 |
|  Broadcom, Inc. | 447990 | 147796381 |
|  Enphase Energy, Inc.\* | 7749 | 274237 |
|  Entegris, Inc. | 1487 | 137488 |
|  KLA Corp. | 8241 | 8888743 |
|  Lam Research Corp. | 81900 | 10966410 |
|  Lattice Semiconductor Corp.\* | 7636 | 559872 |
|  MACOM Technology Solutions Holdings, Inc.\* | 956 | 119012 |
|  Marvell Technology, Inc. | 3673 | 308789 |
|  Monolithic Power Systems, Inc. | 2866 | 2638554 |
|  NVIDIA Corp. | 1798938 | 335645852 |
|  Onto Innovation, Inc.\* | 659 | 85156 |
|  QUALCOMM, Inc. | 62145 | 10338442 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. (ADR) | 13804 | 3855319 |
|  Texas Instruments, Inc. | 23027 | 4230751 |
|  |  | 552876795 |
|  ***Software (12.8%)*** |  |  |
|  Adobe, Inc.\* | 42584 | 15021506 |
|  Appfolio, Inc., Class A\* | 1338 | 368833 |
|  AppLovin Corp., Class A\* | 22601 | 16239723 |
|  Atlassian Corp., Class A\* | 10023 | 1600673 |
|  Autodesk, Inc.\* | 69462 | 22065994 |
|  Bentley Systems, Inc., Class B | 9583 | 493333 |
|  Cadence Design Systems, Inc.\* | 16897 | 5935240 |
|  Circle Internet Group, Inc., Class A\* | 454 | 60191 |
|  Confluent, Inc., Class A\* | 16853 | 333689 |
|  Crowdstrike Holdings, Inc., Class A\* | 20862 | 10230308 |
|  Datadog, Inc., Class A\* | 19104 | 2720410 |
|  Docusign, Inc.\* | 9709 | 699922 |
|  Dropbox, Inc., Class A\* | 3263 | 98575 |
|  Dynatrace, Inc.\* | 18183 | 880966 |
|  Elastic NV\* | 5520 | 466385 |
|  Fair Isaac Corp.\* | 1196 | 1789850 |
|  Fortinet, Inc.\* | 39403 | 3313004 |
|  Gen Digital, Inc. | 3633 | 103141 |
|  Gitlab, Inc., Class A\* | 8766 | 395171 |
|  Guidewire Software, Inc.\* | 5185 | 1191824 |
|  HubSpot, Inc.\* | 3149 | 1473102 |
|  Intuit, Inc. | 30421 | 20774805 |
|  Manhattan Associates, Inc.\* | 3831 | 785278 |
|  Microsoft Corp. | 565025 | 292654699 |
|  nCino, Inc.\* | 1199 | 32505 |
|  Nutanix, Inc., Class A\* | 3821 | 284244 |
|  Oracle Corp. | 356823 | 100352901 |
|  Palantir Technologies, Inc., Class A\* | 176929 | 32275388 |
|  Palo Alto Networks, Inc.\* | 54359 | 11068580 |
|  Pegasystems, Inc. | 1715 | 98612 |
|  Procore Technologies, Inc.\* | 6976 | 508690 |
|  PTC, Inc.\* | 839 | 170334 |
|  RingCentral, Inc., Class A\* | 4874 | 138129 |
|  Rubrik, Inc., Class A\* | 4298 | 353510 |
|  Salesforce, Inc. | 45346 | 10747002 |
|  Samsara, Inc., Class A\* | 17303 | 644537 |

---

See Notes to Portfolio of Investments.

635

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP GROWTH MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SentinelOne, Inc., Class A\* | 12803 | $225461 |
|  ServiceNow, Inc.\* | 28137 | 25893918 |
|  Strategy, Inc.\* | 906 | 291922 |
|  Synopsys, Inc.\* | 20600 | 10163834 |
|  Teradata Corp.\* | 1700 | 36567 |
|  Tyler Technologies, Inc.\* | 2210 | 1156184 |
|  Unity Software, Inc.\* | 1124 | 45005 |
|  Workday, Inc., Class A\* | 66341 | 15970269 |
|  Zscaler, Inc.\* | 6046 | 1811744 |
|  |  | 611965958 |
|  ***Technology Hardware, Storage & Peripherals (5.1%)*** |  |  |
|  Apple, Inc. | 944990 | 240622804 |
|  Dell Technologies, Inc., Class C | 2650 | 375691 |
|  NetApp, Inc. | 4882 | 578322 |
|  Pure Storage, Inc., Class A\* | 16487 | 1381775 |
|  Super Micro Computer, Inc.\* | 14330 | 686980 |
|  |  | 243645572 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 1509707223 |
|  **Materials (0.1%)** |  |  |
|  ***Chemicals (0.1%)*** |  |  |
|  Ecolab, Inc. | 3787 | 1037108 |
|  Sherwin-Williams Co. (The) | 13093 | 4533582 |
|  |  | 5570690 |
|  ***Construction Materials (0.0%)†*** |  |  |
|  Eagle Materials, Inc. | 171 | 39850 |
|  James Hardie Industries plc (ADR)\* | 5674 | 108997 |
|  |  | 148847 |
|  ***Metals & Mining (0.0%)†*** |  |  |
|  Anglogold Ashanti plc | 3719 | 261557 |
|  Carpenter Technology Corp. | 518 | 127190 |
|  Steel Dynamics, Inc. | 820 | 114333 |
|  |  | 503080 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 6222617 |
|  **Real Estate (0.3%)** |  |  |
|  ***Real Estate Management & Development (0.1%)*** |  |  |
|  CBRE Group, Inc., Class A\* | 1989 | 313387 |
|  CoStar Group, Inc.\* | 63045 | 5319107 |
|  Jones Lang LaSalle, Inc.\* | 773 | 230570 |
|  |  | 5863064 |
|  ***Residential REITs (0.0%)†*** |  |  |
|  Sun Communities, Inc. (REIT) | 1473 | 190017 |
|  UDR, Inc. (REIT) | 1100 | 40986 |
|  |  | 231003 |
|  ***Retail REITs (0.0%)†*** |  |  |
|  Simon Property Group, Inc. (REIT) | 4587 | 860842 |
|  ***Specialized REITs (0.2%)*** |  |  |
|  American Tower Corp. (REIT) | 28967 | 5570934 |
|  Lamar Advertising Co. (REIT), Class A | 5634 | 689714 |
|  Public Storage (REIT) | 1266 | 365684 |
|  |  | 6626332 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 13581241 |
|  **Utilities (0.2%)** |  |  |
|  ***Electric Utilities (0.1%)*** |  |  |
|  NRG Energy, Inc. | 11792 | 1909714 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  Vistra Corp. | 30416 | 5959103 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 7868817 |
|  **Total Common Stocks (68.4%)**<br> *(Cost $1,089,171,935)* |  | 3279199095 |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (21.5%)** |  |  |
|  Invesco QQQ Trust | 46839 | 28120730 |
|  iShares Core S&P 500 ETF | 2079 | 1391475 |
|  iShares Morningstar Growth ETF‡ | 2317485 | 241713685 |
|  iShares Morningstar U.S. Equity ETF | 15692 | 1450255 |
|  iShares Morningstar Value ETF | 30936 | 2784859 |
|  iShares Russell 1000 ETF | 3225 | 1178673 |
|  iShares Russell 1000 Growth ETF | 60016 | 28112095 |
|  SPDR Portfolio S&P 500 Growth ETF | 1569800 | 164059798 |
|  SPDR Portfolio S&P 500 Value ETF | 131600 | 7281428 |
|  Vanguard Growth ETF | 445182 | 213513739 |
|  Vanguard Large-Cap ETF | 600 | 184716 |
|  Vanguard Russell 1000 Growth ETF | 2771400 | 333953700 |
|  Vanguard Russell 1000 Value ETF | 25400 | 2269998 |
|  Vanguard Value ETF | 14900 | 2778701 |
|  **Total Exchange Traded Funds (21.5%)<br>(***Cost $427,692,952)* |  | 1028793852 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (4.5%**) |  |  |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 215306241 | 215392363 |
|  **Total Short-Term Investments (4.5%)**<br> *(Cost $215,359,219)* |  | 215392363 |
|  **Total Investments in Securities (94.4%)**<br> *(Cost $1,732,224,106)* |  | 4523385310 |
|  **Other Assets Less Liabilities (5.6%)** | **Other Assets Less Liabilities (5.6%)** | 270659280 |
|  **Net Assets (100%)** | **Net Assets (100%)** | $4794044590 |

---

*\** *Non-income producing.* 

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

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

*Glossary:* 

*ADR — American Depositary Receipt* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

636

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP GROWTH MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases at<br>Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain**<br>**Distributions<br>($)** |
|  COMMON STOCKS: |  |  |  |  |  |  |  |  |  |
|  **Financials** |  |  |  |  |  |  |  |  |  |
|  **Financial Services** |  |  |  |  |  |  |  |  |  |
|  Equitable Holdings, Inc. |  | 989296 |  | (1171254) | 637838 | (455880) |  | 10520 |  |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  iShares Morningstar Growth ETF | 2317485 | 231301056 |  | (24739118) | 9023461 | 26128286 | 241713685 | 800273 |  |
|  **Total** |  | **232290352** |  | **(25910372)** | **9661299** | **25672406** | **241713685** | **810793** |  |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  Russell 1000 Growth E-Mini |  |  |  |  |  |
|  Index | 1961 | 12/2025 | USD | 466747415 | 8527103 |
|  |  |  |  |  | 8527103 |

---

See Notes to Portfolio of Investments.

637

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP GROWTH MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $422662406 | $— | $— | $422662406 |
|  Consumer Discretionary | 459325919 |  |  | 459325919 |
|  Consumer Staples | 92467006 |  |  | 92467006 |
|  Energy | 7128776 |  |  | 7128776 |
|  Financials | 257170020 |  |  | 257170020 |
|  Health Care | 303901356 |  |  | 303901356 |
|  Industrials | 199163714 |  |  | 199163714 |
|  Information Technology | 1509707223 |  |  | 1509707223 |
|  Materials | 6222617 |  |  | 6222617 |
|  Real Estate | 13581241 |  |  | 13581241 |
|  Utilities | 7868817 |  |  | 7868817 |
|  **Exchange Traded Funds** | 1028793852 |  |  | 1028793852 |
|  **Futures** | 8527103 |  |  | 8527103 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 215392363 |  |  | 215392363 |
|  **Total Assets** | $**4531912413** | $**—** | $**—** | $**4531912413** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**4531912413** | $**—** | $**—** | $**4531912413** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $2825804203 |
|  Aggregate gross unrealized depreciation | (28659234) |
|  Net unrealized appreciation | $2797144969 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1734767444 |

---

See Notes to Portfolio of Investments.

638

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (8.0%)** |  |  |
|  ***Diversified Telecommunication Services (1.3%)*** |  |  |
|  AST SpaceMobile, Inc., Class A\* | 400 | $19632 |
|  AT&T, Inc. | 214387 | 6054289 |
|  Frontier Communications Parent, Inc.\* | 7166 | 267650 |
|  GCI Liberty, Inc., Class A\* | 80 | 3004 |
|  GCI Liberty, Inc., Class C\* | 539 | 20089 |
|  Iridium Communications, Inc. | 2670 | 46618 |
|  Liberty Global Ltd., Class A\* | 5114 | 58606 |
|  Liberty Global Ltd., Class C\* | 4282 | 50314 |
|  Verizon Communications, Inc. | 129079 | 5673022 |
|  |  | 12193224 |
|  ***Entertainment (1.3%)*** |  |  |
|  Electronic Arts, Inc. | 7971 | 1607751 |
|  Liberty Media Corp.-Liberty Formula One, Class A\* | 478 | 45515 |
|  Liberty Media Corp.-Liberty Formula One, Class C\* | 4421 | 461774 |
|  Liberty Media Corp.-Liberty Live, Class A\* | 602 | 56769 |
|  Liberty Media Corp.-Liberty Live, Class C\* | 1398 | 135564 |
|  Madison Square Garden Sports Corp.\* | 492 | 111684 |
|  Roku, Inc.\* | 3427 | 343145 |
|  Take-Two Interactive Software, Inc.\* | 3615 | 933971 |
|  TKO Group Holdings, Inc., Class A | 1206 | 243564 |
|  Walt Disney Co. (The) | 55347 | 6337231 |
|  Warner Bros Discovery, Inc.\* | 68171 | 1331380 |
|  |  | 11608348 |
|  ***Interactive Media & Services (4.2%)*** |  |  |
|  Alphabet, Inc., Class A | 63057 | 15329157 |
|  Alphabet, Inc., Class C | 51344 | 12504831 |
|  IAC, Inc.\* | 2053 | 69946 |
|  Match Group, Inc. | 7470 | 263840 |
|  Meta Platforms, Inc., Class A | 11901 | 8739856 |
|  Pinterest, Inc., Class A\* | 9087 | 292329 |
|  Trump Media & Technology Group Corp.(x)\* | 1450 | 23809 |
|  ZoomInfo Technologies, Inc., Class A\* | 9032 | 98539 |
|  |  | 37322307 |
|  ***Media (0.8%)*** |  |  |
|  Charter Communications, Inc., Class A\* | 2771 | 762316 |
|  Comcast Corp., Class A | 113193 | 3556524 |
|  DoubleVerify Holdings, Inc.\* | 2140 | 25637 |
|  Fox Corp., Class A | 6595 | 415881 |
|  Fox Corp., Class B | 4043 | 231623 |
|  Interpublic Group of Cos., Inc. (The) | 11272 | 314602 |
|  Liberty Broadband Corp., Class A\* | 399 | 25269 |
|  Liberty Broadband Corp., Class C\* | 2697 | 171367 |
|  New York Times Co. (The), Class A | 4904 | 281490 |
|  News Corp., Class A | 11570 | 355315 |
|  News Corp., Class B | 3420 | 118161 |
|  Nexstar Media Group, Inc., Class A(x) | 810 | 160169 |
|  NIQ Global Intelligence plc\* | 729 | 11445 |
|  Omnicom Group, Inc. | 5907 | 481598 |
|  Sirius XM Holdings, Inc. | 5801 | 135018 |
|  |  | 7046415 |
|  ***Wireless Telecommunication Services (0.4%)*** |  |  |
|  Millicom International Cellular SA | 3139 | 152367 |
|  T-Mobile US, Inc. | 13879 | 3322355 |
|  |  | 3474722 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 71645016 |
|  **Consumer Discretionary (7.6%)** |  |  |
|  ***Automobile Components (0.2%)*** |  |  |
|  Aptiv plc\* | 6994 | 603023 |
|  BorgWarner, Inc. | 6659 | 292729 |
|  Gentex Corp. | 6913 | 195638 |
|  Lear Corp. | 1630 | 163994 |
|  QuantumScape Corp., Class A(x)\* | 12596 | 155183 |
|  |  | 1410567 |
|  ***Automobiles (0.4%)*** |  |  |
|  Ford Motor Co. | 119308 | 1426924 |
|  General Motors Co. | 29532 | 1800566 |
|  Harley-Davidson, Inc. | 3407 | 95055 |
|  Lucid Group, Inc., Class A(x)\* | 3795 | 90283 |
|  Rivian Automotive, Inc., Class A(x)\* | 23686 | 347710 |
|  Thor Industries, Inc. | 1556 | 161342 |
|  |  | 3921880 |
|  ***Broadline Retail (2.2%)*** |  |  |
|  Amazon.com, Inc.\* | 80601 | 17697562 |
|  Dillard's, Inc., Class A(x) | 90 | 55303 |
|  eBay, Inc. | 14076 | 1280212 |
|  Etsy, Inc.\* | 1344 | 89228 |
|  Macy's, Inc. | 8468 | 151831 |
|  Ollie's Bargain Outlet Holdings, Inc.\* | 1871 | 240237 |
|  |  | 19514373 |
|  ***Distributors (0.1%)*** |  |  |
|  Genuine Parts Co. | 4239 | 587525 |
|  LKQ Corp. | 7930 | 242182 |
|  Pool Corp. | 893 | 276893 |
|  |  | 1106600 |
|  ***Diversified Consumer Services (0.1%)*** |  |  |
|  ADT, Inc. | 12463 | 108553 |
|  Bright Horizons Family Solutions, Inc.\* | 1512 | 164158 |
|  Grand Canyon Education, Inc.\* | 611 | 134127 |
|  H&R Block, Inc. | 3368 | 170320 |
|  Service Corp. International | 4257 | 354267 |
|  |  | 931425 |
|  ***Hotels, Restaurants & Leisure (1.5%)*** |  |  |
|  Aramark | 8066 | 309734 |
|  Booking Holdings, Inc. | 60 | 323956 |
|  Boyd Gaming Corp. | 1775 | 153449 |
|  Caesars Entertainment, Inc.\* | 6307 | 170447 |
|  Carnival Corp.\* | 22843 | 660391 |
|  Choice Hotels International, Inc.(x) | 574 | 61366 |
|  Churchill Downs, Inc. | 312 | 30267 |
|  Darden Restaurants, Inc. | 179 | 34075 |
|  Domino's Pizza, Inc. | 677 | 292268 |
|  Flutter Entertainment plc, Class DI\* | 925 | 234950 |
|  Hyatt Hotels Corp., Class A | 1229 | 174432 |
|  Marriott International, Inc., Class A | 1619 | 421652 |
|  McDonald's Corp. | 20612 | 6263781 |
|  MGM Resorts International\* | 6261 | 217006 |
|  Norwegian Cruise Line Holdings Ltd.\* | 1317 | 32438 |
|  Penn Entertainment, Inc.\* | 4558 | 87787 |
|  Restaurant Brands International, Inc. | 3585 | 229942 |
|  Starbucks Corp. | 30163 | 2551790 |
|  Travel + Leisure Co. | 1290 | 76742 |
|  Vail Resorts, Inc. | 200 | 29914 |
|  Wendy's Co. (The) | 2819 | 25822 |
|  Wyndham Hotels & Resorts, Inc.(x) | 241 | 19256 |
|  Wynn Resorts Ltd. | 2552 | 327345 |

---

See Notes to Portfolio of Investments.

639

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Yum! Brands, Inc. | 5656 | $859712 |
|  |  | 13588522 |
|  ***Household Durables (0.7%)*** |  |  |
|  DR Horton, Inc. | 8385 | 1421006 |
|  Garmin Ltd. | 4981 | 1226422 |
|  Lennar Corp., Class A | 6979 | 879633 |
|  Lennar Corp., Class B | 291 | 34917 |
|  Mohawk Industries, Inc.\* | 1567 | 202018 |
|  Newell Brands, Inc. | 12739 | 66752 |
|  NVR, Inc.\* | 86 | 690981 |
|  PulteGroup, Inc. | 6104 | 806522 |
|  SharkNinja, Inc.\* | 1783 | 183916 |
|  Toll Brothers, Inc. | 3023 | 417597 |
|  TopBuild Corp.\* | 828 | 323632 |
|  Whirlpool Corp.(x) | 1639 | 128825 |
|  |  | 6382221 |
|  ***Leisure Products (0.1%)*** |  |  |
|  Brunswick Corp. | 2002 | 126606 |
|  Hasbro, Inc. | 4039 | 306358 |
|  Mattel, Inc.\* | 9813 | 165153 |
|  YETI Holdings, Inc.\* | 2521 | 83647 |
|  |  | 681764 |
|  ***Specialty Retail (1.9%)*** |  |  |
|  AutoNation, Inc.\* | 840 | 183767 |
|  AutoZone, Inc.\* | 430 | 1844803 |
|  Bath & Body Works, Inc. | 6506 | 167595 |
|  Best Buy Co., Inc. | 5907 | 446687 |
|  CarMax, Inc.\* | 4659 | 209049 |
|  Dick's Sporting Goods, Inc. | 1666 | 370219 |
|  Five Below, Inc.\* | 1645 | 254482 |
|  Floor & Decor Holdings, Inc., Class A\* | 2218 | 163467 |
|  GameStop Corp., Class A\* | 12523 | 341627 |
|  Gap, Inc. (The) | 7030 | 150372 |
|  Home Depot, Inc. (The) | 7239 | 2933170 |
|  Lithia Motors, Inc., Class A | 694 | 219304 |
|  Lowe's Cos., Inc. | 17129 | 4304689 |
|  O'Reilly Automotive, Inc.\* | 2108 | 227263 |
|  Penske Automotive Group, Inc.(x) | 565 | 98259 |
|  RH(x)\* | 388 | 78826 |
|  Ross Stores, Inc. | 7878 | 1200528 |
|  TJX Cos., Inc. (The) | 17092 | 2470478 |
|  Ulta Beauty, Inc.\* | 1035 | 565886 |
|  Valvoline, Inc.\* | 443 | 15908 |
|  Wayfair, Inc., Class A(x)\* | 2350 | 209926 |
|  Williams-Sonoma, Inc. | 3079 | 601791 |
|  |  | 17058096 |
|  ***Textiles, Apparel & Luxury Goods (0.4%)*** |  |  |
|  Amer Sports, Inc.\* | 4559 | 158425 |
|  Birkenstock Holding plc(x)\* | 1140 | 51585 |
|  Columbia Sportswear Co. | 795 | 41578 |
|  Crocs, Inc.\* | 1661 | 138777 |
|  Lululemon Athletica, Inc.\* | 1363 | 242519 |
|  NIKE, Inc., Class B | 35361 | 2465723 |
|  PVH Corp. | 1596 | 133697 |
|  Ralph Lauren Corp. | 1108 | 347424 |
|  Tapestry, Inc. | 523 | 59214 |
|  Under Armour, Inc., Class A\* | 5771 | 28797 |
|  Under Armour, Inc., Class C(x)\* | 5737 | 27710 |
|  VF Corp. | 10731 | 154848 |
|  |  | 3850297 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 68445745 |
|  **Consumer Staples (7.5%)** |  |  |
|  ***Beverages (1.3%)*** |  |  |
|  Boston Beer Co., Inc. (The), Class A\* | 249 | 52644 |
|  Brown-Forman Corp., Class A | 1332 | 35844 |
|  Brown-Forman Corp., Class B | 4513 | 122212 |
|  Coca-Cola Co. (The) | 60778 | 4030797 |
|  Coca-Cola Consolidated, Inc. | 1366 | 160041 |
|  Constellation Brands, Inc., Class A | 3993 | 537737 |
|  Keurig Dr Pepper, Inc. | 39579 | 1009660 |
|  Molson Coors Beverage Co., Class B | 5126 | 231951 |
|  PepsiCo, Inc. | 36145 | 5076204 |
|  Primo Brands Corp. | 7846 | 173397 |
|  |  | 11430487 |
|  ***Consumer Staples Distribution & Retail (2.1%)*** |  |  |
|  Albertsons Cos., Inc., Class A | 12657 | 221624 |
|  BJ's Wholesale Club Holdings, Inc.\* | 3403 | 317330 |
|  Casey's General Stores, Inc. | 961 | 543272 |
|  Dollar General Corp. | 6713 | 693789 |
|  Dollar Tree, Inc.\* | 6208 | 585849 |
|  Kroger Co. (The) | 18533 | 1249309 |
|  Maplebear, Inc.\* | 5266 | 193578 |
|  Performance Food Group Co.\* | 4087 | 425211 |
|  Sysco Corp. | 6887 | 567076 |
|  Target Corp. | 13891 | 1246023 |
|  US Foods Holding Corp.\* | 7018 | 537719 |
|  Walmart, Inc. | 119682 | 12334427 |
|  |  | 18915207 |
|  ***Food Products (1.1%)*** |  |  |
|  Archer-Daniels-Midland Co. | 14608 | 872682 |
|  Bunge Global SA | 4059 | 329794 |
|  Campbell's Co. (The)(x) | 5925 | 187111 |
|  Conagra Brands, Inc. | 14545 | 266319 |
|  Darling Ingredients, Inc.\* | 4244 | 131012 |
|  Flowers Foods, Inc. | 5705 | 74450 |
|  Freshpet, Inc.\* | 1052 | 57976 |
|  General Mills, Inc. | 16735 | 843779 |
|  Hershey Co. (The) | 3914 | 732114 |
|  Hormel Foods Corp. | 8840 | 218702 |
|  Ingredion, Inc. | 1952 | 238359 |
|  J M Smucker Co. (The) | 3167 | 343936 |
|  Kellanova | 8491 | 696432 |
|  Kraft Heinz Co. (The) | 26093 | 679462 |
|  Lamb Weston Holdings, Inc. | 4163 | 241787 |
|  McCormick & Co., Inc. (Non- Voting) | 7738 | 517749 |
|  Mondelez International, Inc., Class A | 39596 | 2473562 |
|  Pilgrim's Pride Corp. | 1264 | 51470 |
|  Post Holdings, Inc.\* | 1541 | 165627 |
|  Seaboard Corp. | 8 | 29176 |
|  Smithfield Foods, Inc. | 782 | 18361 |
|  Tyson Foods, Inc., Class A | 8550 | 464265 |
|  |  | 9634125 |
|  ***Household Products (1.6%)*** |  |  |
|  Church & Dwight Co., Inc. | 7527 | 659591 |
|  Clorox Co. (The) | 3766 | 464348 |
|  Colgate-Palmolive Co. | 12926 | 1033304 |
|  Kimberly-Clark Corp. | 6498 | 807961 |
|  Procter & Gamble Co. (The) | 71787 | 11030073 |
|  Reynolds Consumer Products, Inc. | 1666 | 40767 |
|  |  | 14036044 |
|  ***Personal Care Products (0.2%)*** |  |  |
|  BellRing Brands, Inc.\* | 3878 | 140966 |
|  Coty, Inc., Class A\* | 10551 | 42626 |
|  e.l.f. Beauty, Inc.\* | 1673 | 221639 |
|  Estee Lauder Cos., Inc. (The), Class A | 7143 | 629441 |
|  Kenvue, Inc. | 58075 | 942557 |
|  |  | 1977229 |
|  ***Tobacco (1.2%)*** |  |  |
|  Altria Group, Inc. | 51555 | 3405723 |

---

See Notes to Portfolio of Investments.

640

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Philip Morris International, Inc. | 47616 | $7723315 |
|  |  | 11129038 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 67122130 |
|  **Energy (5.9%)** |  |  |
|  ***Energy Equipment & Services (0.5%)*** |  |  |
|  Baker Hughes Co. | 30309 | 1476654 |
|  Halliburton Co. | 26200 | 644520 |
|  NOV, Inc. | 11418 | 151289 |
|  Schlumberger NV | 41880 | 1439416 |
|  TechnipFMC plc | 12694 | 500778 |
|  Weatherford International plc | 2175 | 148835 |
|  |  | 4361492 |
|  ***Oil, Gas & Consumable Fuels (5.4%)*** |  |  |
|  Antero Midstream Corp. | 10221 | 198696 |
|  Antero Resources Corp.\* | 8854 | 297140 |
|  APA Corp. | 10838 | 263147 |
|  Cheniere Energy, Inc. | 3707 | 871071 |
|  Chevron Corp. | 58702 | 9115833 |
|  Chord Energy Corp. | 1805 | 179363 |
|  Civitas Resources, Inc.(x) | 2820 | 91650 |
|  ConocoPhillips | 38688 | 3659498 |
|  Coterra Energy, Inc. | 23055 | 545251 |
|  Devon Energy Corp. | 19004 | 666280 |
|  Diamondback Energy, Inc. | 5827 | 833844 |
|  DT Midstream, Inc. | 3101 | 350599 |
|  EOG Resources, Inc. | 16878 | 1892361 |
|  EQT Corp. | 18220 | 991715 |
|  Expand Energy Corp. | 6715 | 713402 |
|  Exxon Mobil Corp. | 132435 | 14932046 |
|  HF Sinclair Corp. | 4396 | 230087 |
|  Kinder Morgan, Inc. | 59431 | 1682492 |
|  Marathon Petroleum Corp. | 9524 | 1835656 |
|  Matador Resources Co. | 3569 | 160355 |
|  Occidental Petroleum Corp. | 20582 | 972499 |
|  ONEOK, Inc. | 19098 | 1393581 |
|  Ovintiv, Inc. | 7934 | 320375 |
|  Permian Resources Corp. | 19475 | 249280 |
|  Phillips 66 | 11568 | 1573479 |
|  Range Resources Corp. | 7215 | 271573 |
|  Valero Energy Corp. | 9540 | 1624280 |
|  Viper Energy, Inc., Class A | 4011 | 153300 |
|  Williams Cos., Inc. (The) | 35248 | 2232961 |
|  |  | 48301814 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 52663306 |
|  **Financials (22.5%)** |  |  |
|  ***Banks (7.4%)*** |  |  |
|  Bank of America Corp. | 192954 | 9954497 |
|  Bank OZK | 3261 | 166246 |
|  BOK Financial Corp. | 683 | 76114 |
|  Citigroup, Inc. | 46509 | 4720663 |
|  Citizens Financial Group, Inc. | 13294 | 706709 |
|  Columbia Banking System, Inc. | 6386 | 164376 |
|  Comerica, Inc. | 3989 | 273326 |
|  Commerce Bancshares, Inc. | 3767 | 225116 |
|  Cullen/Frost Bankers, Inc. | 1817 | 230341 |
|  East West Bancorp, Inc. | 4177 | 444642 |
|  Fifth Third Bancorp | 20350 | 906592 |
|  First Citizens BancShares, Inc., Class A | 301 | 538537 |
|  First Hawaiian, Inc. | 3827 | 95024 |
|  First Horizon Corp. | 15364 | 347380 |
|  FNB Corp. | 10848 | 174761 |
|  Huntington Bancshares, Inc. | 44198 | 763299 |
|  JPMorgan Chase & Co. | 84879 | 26773383 |
|  KeyCorp | 28899 | 540122 |
|  M&T Bank Corp. | 4969 | 981974 |
|  Pinnacle Financial Partners, Inc. | 2172 | 203712 |
|  PNC Financial Services Group, Inc. (The) | 12076 | 2426431 |
|  Popular, Inc. | 1882 | 239033 |
|  Prosperity Bancshares, Inc. | 2795 | 185448 |
|  Regions Financial Corp. | 27455 | 723988 |
|  SouthState Bank Corp. | 3065 | 303037 |
|  Synovus Financial Corp. | 4238 | 208001 |
|  TFS Financial Corp.(x) | 1601 | 21093 |
|  Truist Financial Corp. | 40040 | 1830629 |
|  US Bancorp | 47733 | 2306936 |
|  Webster Financial Corp. | 5113 | 303917 |
|  Wells Fargo & Co. | 99596 | 8348137 |
|  Western Alliance Bancorp | 2607 | 226079 |
|  Wintrust Financial Corp. | 2017 | 267131 |
|  Zions Bancorp NA | 4432 | 250763 |
|  |  | 65927437 |
|  ***Capital Markets (6.0%)*** |  |  |
|  Affiliated Managers Group, Inc. | 854 | 203619 |
|  Ameriprise Financial, Inc. | 269 | 132146 |
|  Bank of New York Mellon Corp. (The) | 20288 | 2210581 |
|  BlackRock, Inc. | 4663 | 5436452 |
|  Brookfield Asset Management Ltd., Class A(x) | 7654 | 435819 |
|  Carlyle Group, Inc. (The) | 7992 | 501098 |
|  Cboe Global Markets, Inc. | 3202 | 785291 |
|  Charles Schwab Corp. (The) | 47601 | 4544468 |
|  CME Group, Inc. | 10991 | 2969658 |
|  Coinbase Global, Inc., Class A\* | 5689 | 1919981 |
|  Evercore, Inc., Class A | 1126 | 379822 |
|  FactSet Research Systems, Inc. | 1085 | 310842 |
|  Franklin Resources, Inc. | 9393 | 217260 |
|  Freedom Holding Corp.(x)\* | 80 | 13770 |
|  Goldman Sachs Group, Inc. (The) | 8805 | 7011862 |
|  Hamilton Lane, Inc., Class A | 425 | 57286 |
|  Houlihan Lokey, Inc., Class A | 1023 | 210042 |
|  Interactive Brokers Group, Inc., Class A | 12253 | 843129 |
|  Intercontinental Exchange, Inc. | 17435 | 2937449 |
|  Invesco Ltd. | 11122 | 255139 |
|  Janus Henderson Group plc | 3836 | 170740 |
|  Jefferies Financial Group, Inc. | 3536 | 231325 |
|  KKR & Co., Inc. | 15559 | 2021892 |
|  Lazard, Inc. | 2709 | 142981 |
|  MarketAxess Holdings, Inc. | 1114 | 194115 |
|  Morgan Stanley | 35199 | 5595233 |
|  Morningstar, Inc. | 231 | 53594 |
|  MSCI, Inc. | 1168 | 662735 |
|  Nasdaq, Inc. | 12603 | 1114735 |
|  Northern Trust Corp. | 5909 | 795351 |
|  Raymond James Financial, Inc. | 5587 | 964316 |
|  Robinhood Markets, Inc., Class A\* | 19591 | 2805039 |
|  S&P Global, Inc. | 9384 | 4567287 |
|  SEI Investments Co. | 3179 | 269738 |
|  State Street Corp. | 8802 | 1021120 |
|  Stifel Financial Corp. | 3053 | 346424 |
| T. Rowe Price Group, Inc. | 6685 | 686148 |
|  TPG, Inc., Class A | 243 | 13960 |
|  Tradeweb Markets, Inc., Class A | 3264 | 362239 |
|  Virtu Financial, Inc., Class A | 2465 | 87508 |
|  XP, Inc., Class A | 11291 | 212158 |
|  |  | 53694352 |
|  ***Consumer Finance (1.1%)*** |  |  |
|  Ally Financial, Inc. | 7439 | 291609 |
|  American Express Co. | 11282 | 3747429 |
|  Capital One Financial Corp. | 19211 | 4083874 |

---

See Notes to Portfolio of Investments.

641

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Credit Acceptance Corp.\* | 188 | $87783 |
|  OneMain Holdings, Inc. | 3640 | 205514 |
|  SLM Corp. | 5511 | 152545 |
|  SoFi Technologies, Inc.\* | 29868 | 789113 |
|  Synchrony Financial | 11626 | 826027 |
|  |  | 10183894 |
|  ***Financial Services (4.1%)*** |  |  |
|  Affirm Holdings, Inc., Class A\* | 3323 | 242845 |
|  Apollo Global Management, Inc. | 3825 | 509758 |
|  Berkshire Hathaway, Inc., Class B\* | 56370 | 28339454 |
|  Block, Inc., Class A\* | 10483 | 757606 |
|  Corebridge Financial, Inc. | 8258 | 264669 |
|  Euronet Worldwide, Inc.(x)\* | 1239 | 108796 |
|  Fidelity National Information Services, Inc. | 16093 | 1061172 |
|  Fiserv, Inc.\* | 12204 | 1573462 |
|  Global Payments, Inc. | 7462 | 619943 |
|  Jack Henry & Associates, Inc. | 2219 | 330476 |
|  MGIC Investment Corp. | 7129 | 202250 |
|  Mr Cooper Group, Inc. | 1918 | 404295 |
|  PayPal Holdings, Inc.\* | 29761 | 1995773 |
|  Rocket Cos., Inc., Class A(x) | 7065 | 136920 |
|  UWM Holdings Corp., Class A | 4261 | 25949 |
|  Voya Financial, Inc. | 2938 | 219762 |
|  Western Union Co. (The) | 10089 | 80611 |
|  WEX, Inc.\* | 953 | 150126 |
|  |  | 37023867 |
|  ***Insurance (3.8%)*** |  |  |
|  Aflac, Inc. | 14887 | 1662878 |
|  Allstate Corp. (The) | 8065 | 1731152 |
|  American Financial Group, Inc. | 2021 | 294500 |
|  American International Group, Inc. | 17836 | 1400839 |
|  Aon plc, Class A | 489 | 174368 |
|  Arch Capital Group Ltd. | 11151 | 1011730 |
|  Arthur J Gallagher & Co. | 7278 | 2254288 |
|  Assurant, Inc. | 1549 | 335513 |
|  Assured Guaranty Ltd. | 1423 | 120457 |
|  Axis Capital Holdings Ltd. | 2318 | 222064 |
|  Brighthouse Financial, Inc.\* | 1746 | 92678 |
|  Brown & Brown, Inc. | 7531 | 706333 |
|  Chubb Ltd. | 11374 | 3210312 |
|  Cincinnati Financial Corp. | 4708 | 744335 |
|  CNA Financial Corp. | 639 | 29688 |
|  Everest Group Ltd. | 1103 | 386304 |
|  Fidelity National Financial, Inc. | 7945 | 480593 |
|  First American Financial Corp. | 3005 | 193041 |
|  Globe Life, Inc. | 2534 | 362286 |
|  Hanover Insurance Group, Inc. (The) | 1095 | 198885 |
|  Hartford Insurance Group, Inc. (The) | 8674 | 1157025 |
|  Kemper Corp. | 1868 | 96295 |
|  Lincoln National Corp. | 5204 | 209877 |
|  Loews Corp. | 5222 | 524237 |
|  Markel Group, Inc.\* | 303 | 579142 |
|  Marsh & McLennan Cos., Inc. | 13295 | 2679341 |
|  MetLife, Inc. | 17194 | 1416270 |
|  Old Republic International Corp. | 6984 | 296610 |
|  Primerica, Inc. | 1008 | 279811 |
|  Principal Financial Group, Inc. | 6787 | 562710 |
|  Progressive Corp. (The) | 17011 | 4200866 |
|  Prudential Financial, Inc. | 10838 | 1124334 |
|  Reinsurance Group of America, Inc. | 2016 | 387334 |
|  RenaissanceRe Holdings Ltd. | 1460 | 370738 |
|  RLI Corp. | 2367 | 154376 |
|  Travelers Cos., Inc. (The) | 6909 | 1929131 |
|  Unum Group | 5289 | 411378 |
|  W.R. Berkley Corp. | 9280 | 711034 |
|  White Mountains Insurance Group Ltd. | 76 | 127036 |
|  Willis Towers Watson plc | 3029 | 1046368 |
|  |  | 33876157 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.1%)*** |  |  |
|  AGNC Investment Corp. (REIT)(x) | 28956 | 283479 |
|  Annaly Capital Management, Inc. (REIT) | 18273 | 369297 |
|  Rithm Capital Corp. (REIT) | 16168 | 184154 |
|  Starwood Property Trust, Inc. (REIT) | 10454 | 202494 |
|  |  | 1039424 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 201745131 |
|  **Health Care (11.6%)** |  |  |
|  ***Biotechnology (1.0%)*** |  |  |
|  Amgen, Inc. | 4313 | 1217129 |
|  Biogen, Inc.\* | 4464 | 625317 |
|  BioMarin Pharmaceutical, Inc.\* | 5810 | 314670 |
|  Caris Life Sciences, Inc.\* | 344 | 10406 |
|  Exact Sciences Corp.\* | 5379 | 294285 |
|  Exelixis, Inc.\* | 1575 | 65048 |
|  Gilead Sciences, Inc. | 27815 | 3087465 |
|  Incyte Corp.\* | 3585 | 304044 |
|  Insmed, Inc.\* | 342 | 49251 |
|  Ionis Pharmaceuticals, Inc.\* | 336 | 21981 |
|  Moderna, Inc.\* | 10840 | 279997 |
|  Neurocrine Biosciences, Inc.\* | 427 | 59942 |
|  Regeneron Pharmaceuticals, Inc. | 3187 | 1791954 |
|  Revolution Medicines, Inc.\* | 5296 | 247323 |
|  Roivant Sciences Ltd.\* | 11578 | 175175 |
|  Sarepta Therapeutics, Inc.\* | 476 | 9173 |
|  United Therapeutics Corp.\* | 1358 | 569287 |
|  Viking Therapeutics, Inc.(x)\* | 3067 | 80601 |
|  |  | 9203048 |
|  ***Health Care Equipment & Supplies (2.9%)*** |  |  |
|  Abbott Laboratories | 52921 | 7088239 |
|  Align Technology, Inc.\* | 2095 | 262336 |
|  Baxter International, Inc. | 15655 | 356464 |
|  Becton Dickinson & Co. | 8742 | 1636240 |
|  Boston Scientific Corp.\* | 37336 | 3645114 |
|  Cooper Cos., Inc. (The)\* | 6087 | 417325 |
|  Dentsply Sirona, Inc. | 6085 | 77219 |
|  Edwards Lifesciences Corp.\* | 17590 | 1367974 |
|  Envista Holdings Corp.\* | 5131 | 104519 |
|  GE HealthCare Technologies, Inc. | 13988 | 1050499 |
|  Globus Medical, Inc., Class A\* | 3427 | 196264 |
|  Hologic, Inc.\* | 6817 | 460079 |
|  Medtronic plc | 39193 | 3732741 |
|  ResMed, Inc. | 3407 | 932598 |
|  Solventum Corp.\* | 4242 | 309666 |
|  STERIS plc | 3001 | 742568 |
|  Stryker Corp. | 7814 | 2888601 |
|  Teleflex, Inc. | 1365 | 167021 |
|  Zimmer Biomet Holdings, Inc. | 6052 | 596122 |
|  |  | 26031589 |
|  ***Health Care Providers & Services (2.7%)*** |  |  |
|  Acadia Healthcare Co., Inc.\* | 2781 | 68858 |
|  Cardinal Health, Inc. | 3672 | 576357 |
|  Centene Corp.\* | 15174 | 541408 |
|  Chemed Corp. | 400 | 179096 |
|  Cigna Group (The) | 7528 | 2169946 |
|  CVS Health Corp. | 38278 | 2885779 |
|  Elevance Health, Inc. | 6911 | 2233082 |
|  Encompass Health Corp. | 3044 | 386649 |
|  HCA Healthcare, Inc. | 4214 | 1796007 |
|  Henry Schein, Inc.\* | 3348 | 222207 |
|  Humana, Inc. | 3689 | 959767 |

---

See Notes to Portfolio of Investments.

642

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Labcorp Holdings, Inc. | 2554 | $733151 |
|  McKesson Corp. | 295 | 227899 |
|  Molina Healthcare, Inc.\* | 740 | 141606 |
|  Quest Diagnostics, Inc. | 3407 | 649306 |
|  Tenet Healthcare Corp.\* | 2799 | 568309 |
|  UnitedHealth Group, Inc. | 27811 | 9603138 |
|  Universal Health Services, Inc., Class B | 1683 | 344073 |
|  |  | 24286638 |
|  ***Health Care Technology (0.0%)†*** |  |  |
|  Certara, Inc.\* | 3705 | 45275 |
|  Veeva Systems, Inc., Class A\* | 920 | 274077 |
|  |  | 319352 |
|  ***Life Sciences Tools & Services (1.8%)*** |  |  |
|  Agilent Technologies, Inc. | 8708 | 1117672 |
|  Avantor, Inc.\* | 20189 | 251959 |
|  Bio-Rad Laboratories, Inc., Class A\* | 592 | 165991 |
|  Bio-Techne Corp. | 4793 | 266634 |
|  Bruker Corp. | 3157 | 102571 |
|  Charles River Laboratories International, Inc.\* | 1491 | 233282 |
|  Danaher Corp. | 19498 | 3865673 |
|  Illumina, Inc.\* | 4834 | 459085 |
|  IQVIA Holdings, Inc.\* | 5354 | 1016939 |
|  Mettler-Toledo International, Inc.\* | 636 | 780760 |
|  QIAGEN NV(x) | 6513 | 291001 |
|  Repligen Corp.\* | 1410 | 188475 |
|  Revvity, Inc. | 3672 | 321851 |
|  Sotera Health Co.\* | 4257 | 66962 |
|  Thermo Fisher Scientific, Inc. | 11541 | 5597616 |
|  Waters Corp.\* | 868 | 260235 |
|  West Pharmaceutical Services, Inc. | 2188 | 573978 |
|  |  | 15560684 |
|  ***Pharmaceuticals (3.2%)*** |  |  |
|  Bristol-Myers Squibb Co. | 50301 | 2268575 |
|  Elanco Animal Health, Inc.(x)\* | 15039 | 302885 |
|  Jazz Pharmaceuticals plc\* | 1813 | 238953 |
|  Johnson & Johnson | 73547 | 13637085 |
|  Merck & Co., Inc. | 77006 | 6463114 |
|  Organon & Co. | 7936 | 84757 |
|  Perrigo Co. plc | 4163 | 92710 |
|  Pfizer, Inc. | 173625 | 4423965 |
|  Royalty Pharma plc, Class A | 11919 | 420502 |
|  Viatris, Inc. | 36245 | 358826 |
|  Zoetis, Inc. | 2759 | 403697 |
|  |  | 28695069 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 104096380 |
|  **Industrials (13.0%)** |  |  |
|  ***Aerospace & Defense (2.8%)*** |  |  |
|  ATI, Inc.\* | 4274 | 347647 |
|  Boeing Co. (The)\* | 19014 | 4103792 |
|  BWX Technologies, Inc. | 2298 | 423682 |
|  Curtiss-Wright Corp. | 1149 | 623838 |
|  General Dynamics Corp. | 7723 | 2633543 |
|  Hexcel Corp. | 2444 | 153239 |
|  Huntington Ingalls Industries, Inc. | 1192 | 343189 |
|  L3Harris Technologies, Inc. | 5708 | 1743280 |
|  Leonardo DRS, Inc. | 1402 | 63651 |
|  Loar Holdings, Inc.\* | 125 | 10000 |
|  Lockheed Martin Corp. | 4606 | 2299361 |
|  Northrop Grumman Corp. | 4144 | 2525022 |
|  RTX Corp. | 40889 | 6841956 |
|  Spirit AeroSystems Holdings, Inc., Class A\* | 3182 | 122825 |
|  StandardAero, Inc.\* | 3947 | 107714 |
|  Textron, Inc. | 5499 | 464610 |
|  TransDigm Group, Inc. | 1394 | 1837320 |
|  Woodward, Inc. | 1812 | 457911 |
|  |  | 25102580 |
|  ***Air Freight & Logistics (0.5%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 3590 | 475316 |
|  Expeditors International of Washington, Inc. | 4189 | 513529 |
|  FedEx Corp. | 6653 | 1568844 |
|  GXO Logistics, Inc.\* | 3509 | 185591 |
|  United Parcel Service, Inc., Class B | 22432 | 1873745 |
|  |  | 4617025 |
|  ***Building Products (0.8%)*** |  |  |
|  A.O. Smith Corp. | 3532 | 259284 |
|  Advanced Drainage Systems, Inc. | 2159 | 299453 |
|  Allegion plc | 2630 | 466431 |
|  Armstrong World Industries, Inc. | 928 | 181897 |
|  Builders FirstSource, Inc.\* | 3411 | 413584 |
|  Carlisle Cos., Inc. | 1156 | 380278 |
|  Carrier Global Corp. | 24615 | 1469515 |
|  Fortune Brands Innovations, Inc. | 3696 | 197329 |
|  Hayward Holdings, Inc.\* | 6064 | 91688 |
|  Johnson Controls International plc | 20176 | 2218351 |
|  Masco Corp. | 6448 | 453875 |
|  Owens Corning | 2594 | 366947 |
|  Simpson Manufacturing Co., Inc. | 1175 | 196766 |
|  Trex Co., Inc.\* | 3261 | 168496 |
|  |  | 7163894 |
|  ***Commercial Services & Supplies (0.4%)*** |  |  |
|  Clean Harbors, Inc.\* | 1548 | 359477 |
|  Copart, Inc.\* | 1853 | 83329 |
|  MSA Safety, Inc. | 1130 | 194439 |
|  RB Global, Inc. | 5320 | 576475 |
|  Republic Services, Inc. | 6191 | 1420711 |
|  Tetra Tech, Inc. | 6645 | 221810 |
|  Veralto Corp. | 4395 | 468551 |
|  |  | 3324792 |
|  ***Construction & Engineering (0.3%)*** |  |  |
|  AECOM | 4044 | 527621 |
|  API Group Corp.\* | 11259 | 386972 |
|  EMCOR Group, Inc. | 885 | 574843 |
|  Everus Construction Group, Inc.\* | 1554 | 133255 |
|  MasTec, Inc.\* | 1501 | 319428 |
|  Quanta Services, Inc. | 1014 | 420222 |
|  Valmont Industries, Inc. | 606 | 234964 |
|  WillScot Holdings Corp. | 4053 | 85559 |
|  |  | 2682864 |
|  ***Electrical Equipment (1.3%)*** |  |  |
|  Acuity, Inc. | 943 | 324760 |
|  AMETEK, Inc. | 7041 | 1323708 |
|  Eaton Corp. plc | 11977 | 4482392 |
|  Emerson Electric Co. | 17225 | 2259575 |
|  Generac Holdings, Inc.\* | 1784 | 298642 |
|  Hubbell, Inc., Class B | 1635 | 703557 |
|  nVent Electric plc | 4978 | 491030 |
|  Regal Rexnord Corp. | 2018 | 289462 |
|  Rockwell Automation, Inc. | 3180 | 1111505 |
|  Sensata Technologies Holding plc | 4433 | 135428 |
|  |  | 11420059 |
|  ***Ground Transportation (1.2%)*** |  |  |
|  Avis Budget Group, Inc.(x)\* | 339 | 54435 |
|  CSX Corp. | 57369 | 2037173 |
|  JB Hunt Transport Services, Inc. | 2439 | 327241 |
|  Knight-Swift Transportation Holdings, Inc., Class A | 4811 | 190083 |
|  Landstar System, Inc. | 1059 | 129791 |
|  Lyft, Inc., Class A\* | 10214 | 224810 |
|  Norfolk Southern Corp. | 6902 | 2073430 |

---

See Notes to Portfolio of Investments.

643

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Old Dominion Freight Line, Inc. | 5375 | $756692 |
|  Ryder System, Inc. | 1229 | 231838 |
|  Saia, Inc.\* | 814 | 243679 |
|  Schneider National, Inc., Class B | 1579 | 33412 |
|  U-Haul Holding Co. (Nasdaq Stock Exchange)\* | 145 | 8275 |
|  U-Haul Holding Co. (New York Stock Exchange) | 1913 | 97372 |
|  Union Pacific Corp. | 16835 | 3979289 |
|  XPO, Inc.\* | 2782 | 359629 |
|  |  | 10747149 |
|  ***Industrial Conglomerates (0.7%)*** |  |  |
|  3M Co. | 13818 | 2144277 |
|  Honeywell International, Inc. | 19674 | 4141377 |
|  |  | 6285654 |
|  ***Machinery (3.3%)*** |  |  |
|  AGCO Corp. | 1896 | 203005 |
|  Allison Transmission Holdings, Inc. | 2159 | 183256 |
|  Caterpillar, Inc. | 12409 | 5920954 |
|  CNH Industrial NV | 26824 | 291040 |
|  Crane Co. | 1504 | 276947 |
|  Cummins, Inc. | 4206 | 1776488 |
|  Deere & Co. | 7467 | 3414360 |
|  Donaldson Co., Inc. | 3640 | 297934 |
|  Dover Corp. | 4144 | 691344 |
|  Esab Corp. | 1739 | 194316 |
|  Flowserve Corp. | 3981 | 211550 |
|  Fortive Corp. | 10375 | 508271 |
|  Gates Industrial Corp. plc\* | 7749 | 192330 |
|  Graco, Inc. | 5074 | 431087 |
|  IDEX Corp. | 2310 | 375976 |
|  Illinois Tool Works, Inc. | 6024 | 1570818 |
|  Ingersoll Rand, Inc. | 12334 | 1019035 |
|  ITT, Inc. | 2463 | 440286 |
|  Lincoln Electric Holdings, Inc. | 1657 | 390770 |
|  Middleby Corp. (The)\* | 1541 | 204845 |
|  Mueller Industries, Inc. | 3314 | 335079 |
|  Nordson Corp. | 1647 | 373787 |
|  Oshkosh Corp. | 1954 | 253434 |
|  Otis Worldwide Corp. | 12077 | 1104200 |
|  PACCAR, Inc. | 15751 | 1548638 |
|  Parker-Hannifin Corp. | 3934 | 2982562 |
|  Pentair plc | 4999 | 553689 |
|  RBC Bearings, Inc.\* | 755 | 294669 |
|  Snap-on, Inc. | 1566 | 542666 |
|  Stanley Black & Decker, Inc. | 4723 | 351061 |
|  Timken Co. (The) | 1911 | 143669 |
|  Toro Co. (The) | 3047 | 232181 |
|  Westinghouse Air Brake Technologies Corp. | 5182 | 1038836 |
|  Xylem, Inc. | 7437 | 1096958 |
|  |  | 29446041 |
|  ***Marine Transportation (0.0%)†*** |  |  |
|  Kirby Corp.\* | 1730 | 144369 |
|  ***Passenger Airlines (0.3%)*** |  |  |
|  Alaska Air Group, Inc.\* | 3095 | 154069 |
|  American Airlines Group, Inc.\* | 18674 | 209896 |
|  Delta Air Lines, Inc. | 19931 | 1131084 |
|  Southwest Airlines Co. | 13979 | 446070 |
|  United Airlines Holdings, Inc.\* | 9947 | 959885 |
|  |  | 2901004 |
|  ***Professional Services (0.8%)*** |  |  |
|  Amentum Holdings, Inc.\* | 4866 | 116541 |
|  Automatic Data Processing, Inc. | 908 | 266498 |
|  Broadridge Financial Solutions, Inc. | 326 | 77643 |
|  CACI International, Inc., Class A\* | 664 | 331190 |
|  Clarivate plc\* | 10819 | 41437 |
|  Concentrix Corp.(x) | 1386 | 63964 |
|  Dayforce, Inc.\* | 4236 | 291818 |
|  Equifax, Inc. | 3127 | 802169 |
|  FTI Consulting, Inc.\* | 1022 | 165206 |
|  Genpact Ltd. | 4919 | 206057 |
|  Jacobs Solutions, Inc. | 3710 | 555981 |
|  KBR, Inc. | 3630 | 171663 |
|  Leidos Holdings, Inc. | 3897 | 736377 |
|  ManpowerGroup, Inc. | 1407 | 53325 |
|  Parsons Corp.\* | 1612 | 133667 |
|  Paychex, Inc. | 6775 | 858799 |
|  Paycom Software, Inc. | 711 | 147988 |
|  Paylocity Holding Corp.\* | 114 | 18157 |
|  Robert Half, Inc. | 3022 | 102688 |
|  Science Applications International Corp. | 1436 | 142695 |
|  SS&C Technologies Holdings, Inc. | 6463 | 573656 |
|  TransUnion | 5957 | 499077 |
|  Verisk Analytics, Inc. | 1710 | 430082 |
|  |  | 6786678 |
|  ***Trading Companies & Distributors (0.6%)*** |  |  |
|  Air Lease Corp., Class A | 3183 | 202598 |
|  Applied Industrial Technologies, Inc. | 1164 | 303862 |
|  Core & Main, Inc., Class A\* | 2434 | 131022 |
|  Fastenal Co. | 6269 | 307432 |
|  Ferguson Enterprises, Inc. | 5571 | 1251135 |
|  MSC Industrial Direct Co., Inc., Class A | 1343 | 123744 |
|  QXO, Inc.\* | 18188 | 346664 |
|  SiteOne Landscape Supply, Inc.\* | 916 | 117981 |
|  United Rentals, Inc. | 1982 | 1892136 |
|  W.W. Grainger, Inc. | 198 | 188686 |
|  Watsco, Inc. | 1064 | 430175 |
|  WESCO International, Inc. | 1464 | 309636 |
|  |  | 5605071 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 116227180 |
|  **Information Technology (10.4%)** |  |  |
|  ***Communications Equipment (1.3%)*** |  |  |
|  Ciena Corp.\* | 4311 | 627983 |
|  Cisco Systems, Inc. | 121644 | 8322883 |
|  F5, Inc.\* | 1760 | 568814 |
|  Lumentum Holdings, Inc.\* | 1942 | 315983 |
|  Motorola Solutions, Inc. | 2947 | 1347634 |
|  |  | 11183297 |
|  ***Electronic Equipment, Instruments & Components (0.9%)*** |  |  |
|  Arrow Electronics, Inc.\* | 1577 | 190817 |
|  Avnet, Inc. | 2626 | 137287 |
|  CDW Corp. | 3730 | 594114 |
|  Cognex Corp. | 5128 | 232298 |
|  Coherent Corp.\* | 4688 | 504991 |
|  Corning, Inc. | 23861 | 1957318 |
|  Crane NXT Co.(x) | 1496 | 100337 |
|  Flex Ltd.\* | 11649 | 675293 |
|  Ingram Micro Holding Corp.(x) | 627 | 13474 |
|  IPG Photonics Corp.\* | 764 | 60501 |
|  Jabil, Inc. | 1120 | 243230 |
|  Keysight Technologies, Inc.\* | 5258 | 919729 |
|  Littelfuse, Inc. | 750 | 194258 |
|  Ralliant Corp. | 3458 | 151218 |
|  TD SYNNEX Corp. | 2404 | 393655 |
|  Teledyne Technologies, Inc.\* | 1421 | 832763 |
|  Trimble, Inc.\* | 7281 | 594494 |
|  Vontier Corp. | 4519 | 189663 |
|  Zebra Technologies Corp., Class A\* | 1553 | 461490 |
|  |  | 8446930 |

---

See Notes to Portfolio of Investments.

644

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***IT Services (1.9%)*** |  |  |
|  Accenture plc, Class A | 19132 | $4717951 |
|  Akamai Technologies, Inc.\* | 4385 | 332208 |
|  Amdocs Ltd. | 3374 | 276837 |
|  Cognizant Technology Solutions Corp., Class A | 15089 | 1012019 |
|  DXC Technology Co.\* | 5483 | 74733 |
|  EPAM Systems, Inc.\* | 1673 | 252272 |
|  Globant SA\* | 1191 | 68340 |
|  International Business Machines Corp. | 28436 | 8023502 |
|  Kyndryl Holdings, Inc.\* | 6610 | 198498 |
|  MongoDB, Inc.\* | 2180 | 676628 |
|  Okta, Inc.\* | 3051 | 279777 |
|  Twilio, Inc., Class A\* | 3583 | 358622 |
|  VeriSign, Inc. | 2576 | 720172 |
|  |  | 16991559 |
|  ***Semiconductors & Semiconductor Equipment (4.0%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 20428 | 3305046 |
|  Allegro MicroSystems, Inc.\* | 3788 | 110610 |
|  Amkor Technology, Inc. | 3490 | 99116 |
|  Analog Devices, Inc. | 15163 | 3725549 |
|  Applied Materials, Inc. | 17778 | 3639868 |
|  Cirrus Logic, Inc.\* | 1618 | 202719 |
|  Entegris, Inc. | 3834 | 354492 |
|  First Solar, Inc.\* | 3102 | 684084 |
|  GLOBALFOUNDRIES, Inc.\* | 3140 | 112538 |
|  Intel Corp.\* | 133559 | 4480904 |
|  Lattice Semiconductor Corp.\* | 620 | 45458 |
|  MACOM Technology Solutions Holdings, Inc.\* | 1454 | 181009 |
|  Marvell Technology, Inc. | 24576 | 2066104 |
|  Microchip Technology, Inc. | 16129 | 1035804 |
|  Micron Technology, Inc. | 34148 | 5713643 |
|  MKS, Inc. | 2053 | 254100 |
|  ON Semiconductor Corp.\* | 12884 | 635310 |
|  Onto Innovation, Inc.\* | 1156 | 149378 |
|  Qorvo, Inc.\* | 2847 | 259305 |
|  QUALCOMM, Inc. | 25918 | 4311719 |
|  Skyworks Solutions, Inc. | 4684 | 360574 |
|  Teradyne, Inc. | 4915 | 676501 |
|  Texas Instruments, Inc. | 16412 | 3015377 |
|  Universal Display Corp. | 1342 | 192751 |
|  |  | 35611959 |
|  ***Software (1.7%)*** |  |  |
|  Aurora Innovation, Inc., Class A\* | 30103 | 162255 |
|  BILL Holdings, Inc.\* | 2817 | 149216 |
|  CCC Intelligent Solutions Holdings, Inc.(x)\* | 16741 | 152510 |
|  Circle Internet Group, Inc., Class A\* | 1217 | 161350 |
|  Docusign, Inc.\* | 1500 | 108135 |
|  Dolby Laboratories, Inc., Class A | 1848 | 133740 |
|  Dropbox, Inc., Class A\* | 4547 | 137365 |
|  Fair Isaac Corp.\* | 128 | 191556 |
|  Gen Digital, Inc. | 14966 | 424885 |
|  Informatica, Inc., Class A\* | 3203 | 79563 |
|  nCino, Inc.\* | 2801 | 75935 |
|  Nutanix, Inc., Class A\* | 5878 | 437264 |
|  Pegasystems, Inc. | 1776 | 102120 |
|  PTC, Inc.\* | 3223 | 654333 |
|  Roper Technologies, Inc. | 3281 | 1636202 |
|  Rubrik, Inc., Class A\* | 1196 | 98371 |
|  SailPoint, Inc.\* | 1837 | 40561 |
|  Salesforce, Inc. | 25338 | 6005106 |
|  SentinelOne, Inc., Class A\* | 2478 | 43638 |
|  Strategy, Inc.\* | 7211 | 2323456 |
|  Synopsys, Inc.\* | 1500 | 740085 |
|  Teradata Corp.\* | 2247 | 48333 |
|  Tyler Technologies, Inc.\* | 224 | 117188 |
|  UiPath, Inc., Class A\* | 13311 | 178101 |
|  Unity Software, Inc.\* | 9115 | 364965 |
|  Zoom Communications, Inc., Class A\* | 8030 | 662475 |
|  |  | 15228708 |
|  ***Technology Hardware, Storage & Peripherals (0.6%)*** |  |  |
|  Dell Technologies, Inc., Class C | 8387 | 1189025 |
|  Hewlett Packard Enterprise Co. | 40074 | 984217 |
|  HP, Inc. | 28825 | 784905 |
|  NetApp, Inc. | 3756 | 444936 |
|  Pure Storage, Inc., Class A\* | 1355 | 113562 |
|  Sandisk Corp.\* | 4121 | 462376 |
|  Super Micro Computer, Inc.(x)\* | 8498 | 407394 |
|  Western Digital Corp. | 10578 | 1269995 |
|  |  | 5656410 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 93118863 |
|  **Materials (4.1%)** |  |  |
|  ***Chemicals (2.0%)*** |  |  |
|  Air Products and Chemicals, Inc. | 6789 | 1851496 |
|  Albemarle Corp. | 3591 | 291158 |
|  Ashland, Inc. | 1430 | 68511 |
|  Axalta Coating Systems Ltd.\* | 6668 | 190838 |
|  Celanese Corp. | 3410 | 143493 |
|  CF Industries Holdings, Inc. | 5062 | 454062 |
|  Corteva, Inc. | 20908 | 1414008 |
|  Dow, Inc. | 21625 | 495861 |
|  DuPont de Nemours, Inc. | 12792 | 996497 |
|  Eastman Chemical Co. | 3507 | 221116 |
|  Ecolab, Inc. | 5757 | 1576612 |
|  Element Solutions, Inc. | 6881 | 173195 |
|  FMC Corp. | 3792 | 127525 |
|  Huntsman Corp. | 5022 | 45098 |
|  International Flavors & Fragrances, Inc. | 7829 | 481797 |
|  Linde plc | 14352 | 6817200 |
|  LyondellBasell Industries NV, Class A | 7829 | 383934 |
|  Mosaic Co. (The) | 9643 | 334419 |
|  NewMarket Corp. | 181 | 149906 |
|  Olin Corp. | 3509 | 87690 |
|  PPG Industries, Inc. | 6946 | 730094 |
|  RPM International, Inc. | 3885 | 457964 |
|  Scotts Miracle-Gro Co. (The) | 1334 | 75971 |
|  Sherwin-Williams Co. (The) | 667 | 230956 |
|  Westlake Corp. | 1021 | 78678 |
|  |  | 17878079 |
|  ***Construction Materials (0.6%)*** |  |  |
|  CRH plc | 20727 | 2485167 |
|  Eagle Materials, Inc. | 946 | 220456 |
|  James Hardie Industries plc (ADR)(x)\* | 1450 | 27855 |
|  Martin Marietta Materials, Inc. | 1833 | 1155303 |
|  Vulcan Materials Co. | 4040 | 1242785 |
|  |  | 5131566 |
|  ***Containers & Packaging (0.5%)*** |  |  |
|  Amcor plc | 69546 | 568886 |
|  AptarGroup, Inc. | 1999 | 267186 |
|  Avery Dennison Corp. | 2377 | 385478 |
|  Ball Corp. | 8631 | 435175 |
|  Crown Holdings, Inc. | 3537 | 341639 |
|  Graphic Packaging Holding Co. | 9101 | 178107 |
|  International Paper Co. | 16018 | 743235 |
|  Packaging Corp. of America | 2699 | 588193 |
|  Sealed Air Corp. | 4456 | 157520 |

---

See Notes to Portfolio of Investments.

645

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Silgan Holdings, Inc. | 2700 | $116127 |
|  Smurfit WestRock plc | 15922 | 677799 |
|  Sonoco Products Co. | 3009 | 129658 |
|  |  | 4589003 |
|  ***Metals & Mining (1.0%)*** |  |  |
|  Alcoa Corp. | 7897 | 259732 |
|  Anglogold Ashanti plc | 13527 | 951354 |
|  Carpenter Technology Corp. | 1211 | 297349 |
|  Cleveland-Cliffs, Inc.\* | 14870 | 181414 |
|  Freeport-McMoRan, Inc. | 43712 | 1714385 |
|  MP Materials Corp.\* | 3951 | 264993 |
|  Newmont Corp. | 34022 | 2868395 |
|  Nucor Corp. | 7019 | 950583 |
|  Reliance, Inc. | 1613 | 452979 |
|  Royal Gold, Inc. | 2008 | 402765 |
|  Southern Copper Corp. | 2540 | 308254 |
|  Steel Dynamics, Inc. | 3881 | 541128 |
|  |  | 9193331 |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Louisiana-Pacific Corp. | 1925 | 171017 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 36962996 |
|  **Real Estate (4.1%)** |  |  |
|  ***Diversified REITs (0.0%)†*** |  |  |
|  WP Carey, Inc. (REIT) | 6624 | 447584 |
|  ***Health Care REITs (0.7%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) | 5242 | 436868 |
|  Healthcare Realty Trust, Inc. (REIT), Class A(x) | 10028 | 180805 |
|  Healthpeak Properties, Inc. (REIT) | 21184 | 405674 |
|  Medical Properties Trust, Inc. (REIT)(x) | 15245 | 77292 |
|  Omega Healthcare Investors, Inc. (REIT) | 8776 | 370523 |
|  Ventas, Inc. (REIT) | 13334 | 933247 |
|  Welltower, Inc. (REIT) | 20024 | 3567075 |
|  |  | 5971484 |
|  ***Hotel & Resort REITs (0.0%)†*** |  |  |
|  Host Hotels & Resorts, Inc. (REIT) | 20957 | 356688 |
|  Park Hotels & Resorts, Inc. (REIT)(x) | 6001 | 66491 |
|  |  | 423179 |
|  ***Industrial REITs (0.5%)*** |  |  |
|  Americold Realty Trust, Inc. (REIT) | 8712 | 106635 |
|  EastGroup Properties, Inc. (REIT) | 1593 | 269631 |
|  First Industrial Realty Trust, Inc. (REIT) | 3911 | 201299 |
|  Lineage, Inc. (REIT) | 2158 | 83385 |
|  Prologis, Inc. (REIT) | 28349 | 3246528 |
|  Rexford Industrial Realty, Inc. (REIT) | 7243 | 297760 |
|  STAG Industrial, Inc. (REIT) | 5705 | 201329 |
|  |  | 4406567 |
|  ***Office REITs (0.1%)*** |  |  |
|  BXP, Inc. (REIT)(x) | 4840 | 359805 |
|  Cousins Properties, Inc. (REIT) | 5099 | 147565 |
|  Highwoods Properties, Inc. (REIT) | 3240 | 103097 |
|  Kilroy Realty Corp. (REIT)(x) | 3584 | 151424 |
|  Vornado Realty Trust (REIT) | 5390 | 218457 |
|  |  | 980348 |
|  ***Real Estate Management & Development (0.3%)*** |  |  |
|  CBRE Group, Inc., Class A\* | 8089 | 1274503 |
|  CoStar Group, Inc.\* | 11181 | 943341 |
|  Howard Hughes Holdings, Inc.\* | 945 | 77651 |
|  Jones Lang LaSalle, Inc.\* | 1053 | 314089 |
|  Zillow Group, Inc., Class A\* | 1525 | 113521 |
|  Zillow Group, Inc., Class C\* | 4969 | 382861 |
|  |  | 3105966 |
|  ***Residential REITs (0.6%)*** |  |  |
|  American Homes 4 Rent (REIT), Class A | 10441 | 347163 |
|  AvalonBay Communities, Inc. (REIT) | 4346 | 839517 |
|  Camden Property Trust (REIT) | 3285 | 350772 |
|  Equity LifeStyle Properties, Inc. (REIT) | 5793 | 351635 |
|  Equity Residential (REIT) | 11575 | 749250 |
|  Essex Property Trust, Inc. (REIT) | 1948 | 521402 |
|  Invitation Homes, Inc. (REIT) | 18699 | 548442 |
|  Mid-America Apartment Communities, Inc. (REIT) | 3556 | 496880 |
|  Sun Communities, Inc. (REIT) | 3122 | 402738 |
|  UDR, Inc. (REIT) | 9544 | 355609 |
|  |  | 4963408 |
|  ***Retail REITs (0.6%)*** |  |  |
|  Agree Realty Corp. (REIT) | 3308 | 235000 |
|  Brixmor Property Group, Inc. (REIT) | 9304 | 257535 |
|  Federal Realty Investment Trust (REIT) | 2600 | 263406 |
|  Kimco Realty Corp. (REIT) | 20421 | 446199 |
|  NNN REIT, Inc. (REIT) | 5714 | 243245 |
|  Realty Income Corp. (REIT) | 27295 | 1659263 |
|  Regency Centers Corp. (REIT) | 5520 | 402408 |
|  Simon Property Group, Inc. (REIT) | 7704 | 1445809 |
|  |  | 4952865 |
|  ***Specialized REITs (1.3%)*** |  |  |
|  Crown Castle, Inc. (REIT) | 13260 | 1279457 |
|  CubeSmart (REIT) | 6917 | 281245 |
|  Digital Realty Trust, Inc. (REIT) | 10308 | 1782047 |
|  EPR Properties (REIT) | 2280 | 132263 |
|  Equinix, Inc. (REIT) | 2987 | 2339538 |
|  Extra Space Storage, Inc. (REIT) | 6438 | 907372 |
|  Gaming and Leisure Properties, Inc. (REIT) | 8065 | 375910 |
|  Iron Mountain, Inc. (REIT) | 8966 | 913994 |
|  Millrose Properties, Inc. (REIT) | 3661 | 123046 |
|  National Storage Affiliates Trust (REIT) | 2152 | 65033 |
|  Public Storage (REIT) | 4192 | 1210859 |
|  Rayonier, Inc. (REIT) | 4731 | 125561 |
|  SBA Communications Corp. (REIT) | 3282 | 634575 |
|  VICI Properties, Inc. (REIT), Class A | 32276 | 1052520 |
|  Weyerhaeuser Co. (REIT) | 22150 | 549099 |
|  |  | 11772519 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 37023920 |
|  **Utilities (4.5%)** |  |  |
|  ***Electric Utilities (2.9%)*** |  |  |
|  Alliant Energy Corp. | 7850 | 529169 |
|  American Electric Power Co., Inc. | 16351 | 1839488 |
|  Constellation Energy Corp. | 9572 | 3149858 |
|  Duke Energy Corp. | 23776 | 2942280 |
|  Edison International | 11648 | 643901 |
|  Entergy Corp. | 13170 | 1227312 |
|  Evergy, Inc. | 7034 | 534725 |
|  Eversource Energy | 11228 | 798760 |
|  Exelon Corp. | 30892 | 1390449 |
|  FirstEnergy Corp. | 16770 | 768401 |
|  IDACORP, Inc. | 1648 | 217783 |
|  NextEra Energy, Inc. | 63025 | 4757757 |

---

See Notes to Portfolio of Investments.

646

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  OGE Energy Corp. | 6139 | $284052 |
|  PG&E Corp. | 67003 | 1010405 |
|  Pinnacle West Capital Corp. | 3641 | 326452 |
|  PPL Corp. | 22619 | 840522 |
|  Southern Co. (The) | 33676 | 3191475 |
|  Xcel Energy, Inc. | 17639 | 1422585 |
|  |  | 25875374 |
|  ***Gas Utilities (0.2%)*** |  |  |
|  Atmos Energy Corp. | 4836 | 825747 |
|  MDU Resources Group, Inc. | 6197 | 110369 |
|  National Fuel Gas Co. | 2741 | 253186 |
|  UGI Corp. | 6571 | 218551 |
|  |  | 1407853 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  AES Corp. (The) | 21696 | 285519 |
|  Brookfield Renewable Corp. | 4127 | 142051 |
|  Clearway Energy, Inc., Class A | 1058 | 28492 |
|  Clearway Energy, Inc., Class C | 2486 | 70230 |
|  Talen Energy Corp.\* | 1386 | 589577 |
|  |  | 1115869 |
|  ***Multi-Utilities (1.2%)*** |  |  |
|  Ameren Corp. | 8247 | 860822 |
|  CenterPoint Energy, Inc. | 19913 | 772624 |
|  CMS Energy Corp. | 9091 | 666007 |
|  Consolidated Edison, Inc. | 11016 | 1107328 |
|  Dominion Energy, Inc. | 26083 | 1595497 |
|  DTE Energy Co. | 6332 | 895535 |
|  NiSource, Inc. | 14380 | 622654 |
|  Public Service Enterprise Group, Inc. | 15261 | 1273683 |
|  Sempra | 19950 | 1795101 |
|  WEC Energy Group, Inc. | 9761 | 1118513 |
|  |  | 10707764 |
|  ***Water Utilities (0.1%)*** |  |  |
|  American Water Works Co., Inc. | 5952 | 828459 |
|  Essential Utilities, Inc. | 8423 | 336078 |
|  |  | 1164537 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 40271397 |
|  **Total Common Stocks (99.2%)**<br> *(Cost $556,018,502)* |  | 889322064 |
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Biotechnology (0.0%)†*** |  |  |
|  Mirati Therapeutics, Inc., CVR(r)\*<br>*(Cost $1,126)* | 2145 | 804 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.2%)** |  |  |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 200000 | 200000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 1508442 | 1508442 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 1708442 |
|  **Total Short-Term Investments (0.2%)**<br> *(Cost $1,708,442)* |  | 1708442 |
|  **Total Investments in Securities (99.4%)**<br> *(Cost $557,728,070)* |  | 891031310 |
|  **Other Assets Less Liabilities (0.6%)** |  | 5239515 |
|  **Net Assets (100%)** |  | $896270825 |

---

*\** *Non-income producing.* 

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

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $4,082,424. This was collateralized by $2,475,209 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.125%, maturing 9/30/25 – 5/15/55 and by cash of $1,708,442 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*CVR — Contingent Value Right* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

647

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**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  S&P 500 E-Mini Index | 8 | 12/2025 | USD | 2695500 | 36048 |
|  S&P Midcap 400 E-Mini Index | 10 | 12/2025 | USD | 3286200 | (60741) |
|  |  |  |  |  | (24693) |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $71645016 | $— | $— | $71645016 |
|  Consumer Discretionary | 68445745 |  |  | 68445745 |
|  Consumer Staples | 67122130 |  |  | 67122130 |
|  Energy | 52663306 |  |  | 52663306 |
|  Financials | 201745131 |  |  | 201745131 |
|  Health Care | 104096380 |  |  | 104096380 |
|  Industrials | 116227180 |  |  | 116227180 |
|  Information Technology | 93118863 |  |  | 93118863 |
|  Materials | 36962996 |  |  | 36962996 |
|  Real Estate | 37023920 |  |  | 37023920 |
|  Utilities | 40271397 |  |  | 40271397 |
|  **Futures** | 36048 |  |  | 36048 |
|  **Rights** |  |  |  |  |
|  Health Care |  |  | 804 | 804 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 1708442 |  |  | 1708442 |
|  **Total Assets** | $**891066554** | $**—** | $**804** | $**891067358** |
|  **Liabilities:** |  |  |  |  |
|  **Futures** | $(60741) | $— | $— | $(60741) |
|  **Total Liabilities** | $**(60741)** | $**—** | $**—** | $**(60741)** |
|  **Total** | $**891005813** | $**—** | $**804** | $**891006617** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $380125348 |
|  Aggregate gross unrealized depreciation | (47848137) |
|  Net unrealized appreciation | $332277211 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $558729406 |

---

See Notes to Portfolio of Investments.

648

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (5.9%)** |  |  |
|  ***Diversified Telecommunication Services (1.0%)*** |  |  |
|  AST SpaceMobile, Inc., Class A\* | 841 | $41276 |
|  AT&T, Inc. | 485272 | 13704081 |
|  Frontier Communications Parent, Inc.\* | 15048 | 562043 |
|  GCI Liberty, Inc., Class A\* | 167 | 6272 |
|  GCI Liberty, Inc., Class C\* | 1133 | 42227 |
|  Iridium Communications, Inc. | 5607 | 97898 |
|  Liberty Global Ltd., Class A\* | 10738 | 123057 |
|  Liberty Global Ltd., Class C\* | 8993 | 105668 |
|  Verizon Communications, Inc. | 492013 | 21623972 |
|  |  | 36306494 |
|  ***Entertainment (0.9%)*** |  |  |
|  Electronic Arts, Inc. | 16739 | 3376256 |
|  Liberty Media Corp.-Liberty Formula One, Class A\* | 1004 | 95601 |
|  Liberty Media Corp.-Liberty Formula One, Class C\* | 9285 | 969818 |
|  Liberty Media Corp.-Liberty Live, Class A\* | 1264 | 119195 |
|  Liberty Media Corp.-Liberty Live, Class C\* | 2936 | 284704 |
|  Madison Square Garden Sports Corp.\* | 1033 | 234491 |
|  Netflix, Inc.\* | 1645 | 1972223 |
|  Roku, Inc.\* | 7197 | 720636 |
|  Take-Two Interactive Software, Inc.\* | 7592 | 1961469 |
|  TKO Group Holdings, Inc., Class A | 2532 | 511363 |
|  Walt Disney Co. (The) | 157310 | 18011995 |
|  Warner Bros Discovery, Inc.\* | 143155 | 2795817 |
|  |  | 31053568 |
|  ***Interactive Media & Services (3.3%)*** |  |  |
|  Alphabet, Inc., Class A | 132416 | 32190330 |
|  Alphabet, Inc., Class C | 232619 | 56654357 |
|  IAC, Inc.\* | 4311 | 146876 |
|  Match Group, Inc. | 15687 | 554065 |
|  Meta Platforms, Inc., Class A | 39975 | 29356841 |
|  Pinterest, Inc., Class A\* | 19082 | 613868 |
|  Trump Media & Technology Group Corp.(x)\* | 3044 | 49982 |
|  ZoomInfo Technologies, Inc., Class A\* | 18967 | 206930 |
|  |  | 119773249 |
|  ***Media (0.4%)*** |  |  |
|  Charter Communications, Inc., Class A\* | 5820 | 1601111 |
|  Comcast Corp., Class A | 270015 | 8483871 |
|  DoubleVerify Holdings, Inc.\* | 4493 | 53826 |
|  Fox Corp., Class A | 13848 | 873255 |
|  Fox Corp., Class B | 8489 | 486335 |
|  Interpublic Group of Cos., Inc. (The) | 23670 | 660630 |
|  Liberty Broadband Corp., Class A\* | 837 | 53007 |
|  Liberty Broadband Corp., Class C\* | 5664 | 359891 |
|  New York Times Co. (The), Class A | 10298 | 591105 |
|  News Corp., Class A | 24296 | 746130 |
|  News Corp., Class B | 7181 | 248104 |
|  Nexstar Media Group, Inc., Class A(x) | 1701 | 336356 |
|  NIQ Global Intelligence plc\* | 1530 | 24021 |
|  Omnicom Group, Inc. | 12405 | 1011379 |
|  Sirius XM Holdings, Inc. | 12181 | 283513 |
|  |  | 15812534 |
|  ***Wireless Telecommunication Services (0.3%)*** |  |  |
|  Millicom International Cellular SA | 6593 | 320024 |
|  T-Mobile US, Inc. | 42863 | 10260545 |
|  |  | 10580569 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 213526414 |
|  **Consumer Discretionary (6.0%)** |  |  |
|  ***Automobile Components (0.1%)*** |  |  |
|  Aptiv plc\* | 14688 | 1266399 |
|  BorgWarner, Inc. | 13984 | 614737 |
|  Gentex Corp. | 14516 | 410803 |
|  Lear Corp. | 3424 | 344488 |
|  QuantumScape Corp., Class A(x)\* | 26450 | 325864 |
|  |  | 2962291 |
|  ***Automobiles (0.4%)*** |  |  |
|  Ford Motor Co. | 250538 | 2996434 |
|  General Motors Co. | 81799 | 4987285 |
|  Harley-Davidson, Inc. | 7155 | 199625 |
|  Lucid Group, Inc., Class A(x)\* | 7972 | 189654 |
|  Rivian Automotive, Inc., Class A(x)\* | 49739 | 730169 |
|  Tesla, Inc.\* | 8054 | 3581775 |
|  Thor Industries, Inc. | 3267 | 338755 |
|  |  | 13023697 |
|  ***Broadline Retail (1.4%)*** |  |  |
|  Amazon.com, Inc.\* | 209346 | 45966101 |
|  Dillard's, Inc., Class A(x) | 189 | 116137 |
|  eBay, Inc. | 29559 | 2688391 |
|  Etsy, Inc.\* | 2823 | 187419 |
|  Macy's, Inc. | 17782 | 318831 |
|  Ollie's Bargain Outlet Holdings, Inc.\* | 3928 | 504355 |
|  |  | 49781234 |
|  ***Distributors (0.1%)*** |  |  |
|  Genuine Parts Co. | 8901 | 1233679 |
|  LKQ Corp. | 16653 | 508583 |
|  Pool Corp. | 1875 | 581381 |
|  |  | 2323643 |
|  ***Diversified Consumer Services (0.0%)†*** |  |  |
|  ADT, Inc. | 26171 | 227949 |
|  Bright Horizons Family Solutions, Inc.\* | 3175 | 344710 |
|  Grand Canyon Education, Inc.\* | 1284 | 281864 |
|  H&R Block, Inc. | 7073 | 357681 |
|  Service Corp. International | 8940 | 743987 |
|  |  | 1956191 |
|  ***Hotels, Restaurants & Leisure (1.1%)*** |  |  |
|  Aramark | 16937 | 650381 |
|  Booking Holdings, Inc. | 707 | 3817284 |
|  Boyd Gaming Corp. | 3728 | 322286 |
|  Caesars Entertainment, Inc.\* | 13245 | 357946 |
|  Carnival Corp.\* | 47969 | 1386784 |
|  Choice Hotels International, Inc.(x) | 1206 | 128933 |
|  Churchill Downs, Inc. | 655 | 63542 |
|  Darden Restaurants, Inc. | 376 | 71575 |
|  Domino's Pizza, Inc. | 1421 | 613460 |
|  Expedia Group, Inc. | 7040 | 1504800 |
|  Flutter Entertainment plc, Class DI\* | 1942 | 493268 |
|  Hyatt Hotels Corp., Class A | 2581 | 366321 |
|  Marriott International, Inc., Class A | 22059 | 5745046 |
|  McDonald's Corp. | 54600 | 16592394 |
|  MGM Resorts International\* | 13148 | 455710 |
|  Norwegian Cruise Line Holdings Ltd.\* | 2765 | 68102 |
|  Penn Entertainment, Inc.\* | 9572 | 184357 |
|  Restaurant Brands International, Inc. | 7528 | 482846 |
|  Starbucks Corp. | 63341 | 5358649 |
|  Travel + Leisure Co. | 2709 | 161158 |
|  Vail Resorts, Inc. | 420 | 62819 |
|  Wendy's Co. (The) | 5919 | 54218 |

---

See Notes to Portfolio of Investments.

649

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Wyndham Hotels & Resorts, Inc.(x) | 507 | $40509 |
|  Wynn Resorts Ltd. | 5360 | 687527 |
|  Yum! Brands, Inc. | 11878 | 1805456 |
|  |  | 41475371 |
|  ***Household Durables (1.0%)*** |  |  |
|  DR Horton, Inc. | 17608 | 2984028 |
|  Garmin Ltd. | 10459 | 2575215 |
|  Lennar Corp., Class A | 90952 | 11463590 |
|  Lennar Corp., Class B | 612 | 73434 |
|  Mohawk Industries, Inc.\* | 3292 | 424405 |
|  Newell Brands, Inc. | 26752 | 140180 |
|  NVR, Inc.\* | 180 | 1446239 |
|  PulteGroup, Inc. | 12817 | 1693510 |
|  SharkNinja, Inc.\* | 4038 | 416520 |
|  Sony Group Corp. (ADR)(x) | 405136 | 11663865 |
|  Toll Brothers, Inc. | 6348 | 876913 |
|  TopBuild Corp.\* | 1740 | 680096 |
|  Whirlpool Corp.(x) | 3443 | 270620 |
|  |  | 34708615 |
|  ***Leisure Products (0.0%)†*** |  |  |
|  Brunswick Corp. | 4203 | 265798 |
|  Hasbro, Inc. | 8483 | 643435 |
|  Mattel, Inc.\* | 20606 | 346799 |
|  YETI Holdings, Inc.\* | 5295 | 175688 |
|  |  | 1431720 |
|  ***Specialty Retail (1.6%)*** |  |  |
|  AutoNation, Inc.\* | 1763 | 385692 |
|  AutoZone, Inc.\* | 1546 | 6632711 |
|  Bath & Body Works, Inc. | 77935 | 2007606 |
|  Best Buy Co., Inc. | 12404 | 937990 |
|  CarMax, Inc.\* | 9784 | 439008 |
|  Dick's Sporting Goods, Inc. | 4061 | 902435 |
|  Five Below, Inc.\* | 3455 | 534489 |
|  Floor & Decor Holdings, Inc., Class A\* | 4657 | 343221 |
|  GameStop Corp., Class A\* | 26297 | 717382 |
|  Gap, Inc. (The) | 14763 | 315781 |
|  Home Depot, Inc. (The) | 15202 | 6159698 |
|  Lithia Motors, Inc., Class A | 1457 | 460412 |
|  Lowe's Cos., Inc. | 105120 | 26417707 |
|  O'Reilly Automotive, Inc.\* | 12302 | 1326279 |
|  Penske Automotive Group, Inc.(x) | 1187 | 206431 |
|  RH(x)\* | 814 | 165372 |
|  Ross Stores, Inc. | 16544 | 2521140 |
|  TJX Cos., Inc. (The) | 35893 | 5187974 |
|  Ulta Beauty, Inc.\* | 2173 | 1188088 |
|  Valvoline, Inc.\* | 930 | 33396 |
|  Wayfair, Inc., Class A(x)\* | 4935 | 440844 |
|  Williams-Sonoma, Inc. | 6465 | 1263584 |
|  |  | 58587240 |
|  ***Textiles, Apparel & Luxury Goods (0.3%)*** |  |  |
|  Amer Sports, Inc.\* | 9574 | 332696 |
|  Birkenstock Holding plc(x)\* | 2395 | 108374 |
|  Columbia Sportswear Co. | 1669 | 87289 |
|  Crocs, Inc.\* | 3488 | 291422 |
|  Lululemon Athletica, Inc.\* | 2862 | 509236 |
|  NIKE, Inc., Class B | 74256 | 5177871 |
|  PVH Corp. | 3351 | 280713 |
|  Ralph Lauren Corp. | 7136 | 2237564 |
|  Tapestry, Inc. | 8631 | 977202 |
|  Under Armour, Inc., Class A\* | 12119 | 60474 |
|  Under Armour, Inc., Class C(x)\* | 12047 | 58187 |
|  VF Corp. | 22534 | 325166 |
|  |  | 10446194 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 216696196 |
|  **Consumer Staples (5.5%)** |  |  |
|  ***Beverages (1.2%)*** |  |  |
|  Boston Beer Co., Inc. (The), Class A\* | 524 | 110784 |
|  Brown-Forman Corp., Class A | 2798 | 75294 |
|  Brown-Forman Corp., Class B | 9478 | 256664 |
|  Coca-Cola Co. (The) | 282733 | 18750853 |
|  Coca-Cola Consolidated, Inc. | 2867 | 335898 |
|  Coca-Cola Europacific Partners plc | 17096 | 1545649 |
|  Constellation Brands, Inc., Class A | 31662 | 4263921 |
|  Diageo plc | 45717 | 1091662 |
|  Keurig Dr Pepper, Inc. | 83113 | 2120213 |
|  Molson Coors Beverage Co., Class B | 10764 | 487071 |
|  PepsiCo, Inc. | 103031 | 14469674 |
|  Primo Brands Corp. | 16477 | 364142 |
|  |  | 43871825 |
|  ***Consumer Staples Distribution & Retail (1.5%)*** |  |  |
|  Albertsons Cos., Inc., Class A | 26578 | 465381 |
|  BJ's Wholesale Club Holdings, Inc.\* | 7147 | 666458 |
|  Casey's General Stores, Inc. | 2019 | 1141381 |
|  Dollar General Corp. | 14097 | 1456925 |
|  Dollar Tree, Inc.\* | 35544 | 3354287 |
|  Kroger Co. (The) | 54983 | 3706404 |
|  Maplebear, Inc.\* | 11058 | 406492 |
|  Performance Food Group Co.\* | 8582 | 892871 |
|  Sysco Corp. | 14463 | 1190884 |
|  Target Corp. | 29170 | 2616549 |
|  US Foods Holding Corp.\* | 26874 | 2059086 |
|  Walmart, Inc. | 339003 | 34937649 |
|  |  | 52894367 |
|  ***Food Products (0.7%)*** |  |  |
|  Archer-Daniels-Midland Co. | 30675 | 1832524 |
|  Bunge Global SA | 15102 | 1227038 |
|  Campbell's Co. (The)(x) | 12443 | 392950 |
|  Conagra Brands, Inc. | 30543 | 559242 |
|  Darling Ingredients, Inc.\* | 8912 | 275113 |
|  Flowers Foods, Inc. | 11981 | 156352 |
|  Freshpet, Inc.\* | 2208 | 121683 |
|  General Mills, Inc. | 35143 | 1771910 |
|  Hershey Co. (The) | 8220 | 1537551 |
|  Hormel Foods Corp. | 18562 | 459224 |
|  Ingredion, Inc. | 4098 | 500407 |
|  J M Smucker Co. (The) | 6651 | 722299 |
|  Kellanova | 17830 | 1462417 |
|  Kraft Heinz Co. (The) | 54794 | 1426836 |
|  Lamb Weston Holdings, Inc. | 8743 | 507793 |
|  McCormick & Co., Inc. (Non-Voting) | 16249 | 1087221 |
|  Mondelez International, Inc., Class A | 140135 | 8754233 |
|  Nestle SA (Registered) | 23244 | 2133583 |
|  Pilgrim's Pride Corp. | 2654 | 108071 |
|  Post Holdings, Inc.\* | 3236 | 347805 |
|  Seaboard Corp. | 16 | 58352 |
|  Smithfield Foods, Inc. | 2899 | 68069 |
|  Tyson Foods, Inc., Class A | 17955 | 974956 |
|  |  | 26485629 |
|  ***Household Products (1.2%)*** |  |  |
|  Church & Dwight Co., Inc. | 15806 | 1385080 |
|  Clorox Co. (The) | 7909 | 975180 |
|  Colgate-Palmolive Co. | 27143 | 2169811 |
|  Kimberly-Clark Corp. | 30956 | 3849069 |
|  Procter & Gamble Co. (The) | 197143 | 30291022 |
|  Reckitt Benckiser Group plc | 31105 | 2392017 |
|  Reynolds Consumer Products, Inc. | 3498 | 85596 |
|  |  | 41147775 |
|  ***Personal Care Products (0.2%)*** |  |  |
|  BellRing Brands, Inc.\* | 8144 | 296035 |

---

See Notes to Portfolio of Investments.

650

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Coty, Inc., Class A\* | 22156 | $89510 |
|  e.l.f. Beauty, Inc.\* | 3514 | 465535 |
|  Estee Lauder Cos., Inc. (The), Class A | 14999 | 1321712 |
|  Kenvue, Inc. | 334062 | 5421826 |
|  |  | 7594618 |
|  ***Tobacco (0.7%)*** |  |  |
|  Altria Group, Inc. | 148198 | 9789960 |
|  Philip Morris International, Inc. | 99990 | 16218378 |
|  |  | 26008338 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 198002552 |
|  **Energy (4.2%)** |  |  |
|  ***Energy Equipment & Services (0.3%)*** |  |  |
|  Baker Hughes Co. | 126545 | 6165273 |
|  Halliburton Co. | 55018 | 1353443 |
|  NOV, Inc. | 23977 | 317695 |
|  Schlumberger NV | 88652 | 3046969 |
|  TechnipFMC plc | 26656 | 1051579 |
|  Weatherford International plc | 4567 | 312520 |
|  |  | 12247479 |
|  ***Oil, Gas & Consumable Fuels (3.9%)*** |  |  |
|  Antero Midstream Corp. | 21462 | 417221 |
|  Antero Resources Corp.\* | 18593 | 623981 |
|  APA Corp. | 22758 | 552564 |
|  Cheniere Energy, Inc. | 7784 | 1829084 |
|  Chevron Corp. | 154702 | 24023674 |
|  Chord Energy Corp. | 3791 | 376712 |
|  Civitas Resources, Inc.(x) | 5921 | 192433 |
|  ConocoPhillips | 150091 | 14197108 |
|  Coterra Energy, Inc. | 312962 | 7401551 |
|  Devon Energy Corp. | 39908 | 1399174 |
|  Diamondback Energy, Inc. | 12237 | 1751115 |
|  DT Midstream, Inc. | 6511 | 736134 |
|  EOG Resources, Inc. | 75254 | 8437478 |
|  EQT Corp. | 38260 | 2082492 |
|  Expand Energy Corp. | 14102 | 1498196 |
|  Exxon Mobil Corp. | 374275 | 42199506 |
|  HF Sinclair Corp. | 9232 | 483203 |
|  Kinder Morgan, Inc. | 124802 | 3533145 |
|  Marathon Petroleum Corp. | 19999 | 3854607 |
|  Matador Resources Co. | 7494 | 336705 |
|  Occidental Petroleum Corp. | 43222 | 2042240 |
|  ONEOK, Inc. | 40104 | 2926389 |
|  Ovintiv, Inc. | 16661 | 672771 |
|  Permian Resources Corp. | 40896 | 523469 |
|  Phillips 66 | 24292 | 3304198 |
|  Range Resources Corp. | 15150 | 570246 |
|  TotalEnergies SE (ADR) | 108210 | 6459055 |
|  Valero Energy Corp. | 20032 | 3410648 |
|  Viper Energy, Inc., Class A | 10829 | 413884 |
|  Williams Cos., Inc. (The) | 74017 | 4688977 |
|  |  | 140937960 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 153185439 |
|  **Financials (18.5%)** |  |  |
|  ***Banks (6.3%)*** |  |  |
|  Bank of America Corp. | 503125 | 25956219 |
|  Bank OZK | 6849 | 349162 |
|  BOK Financial Corp. | 1434 | 159805 |
|  Citigroup, Inc. | 163058 | 16550387 |
|  Citizens Financial Group, Inc. | 27916 | 1484015 |
|  Columbia Banking System, Inc. | 18991 | 488828 |
|  Comerica, Inc. | 8376 | 573924 |
|  Commerce Bancshares, Inc. | 37839 | 2261259 |
|  Cullen/Frost Bankers, Inc. | 47902 | 6072537 |
|  East West Bancorp, Inc. | 8771 | 933673 |
|  Fifth Third Bancorp | 42734 | 1903800 |
|  First Citizens BancShares, Inc., Class A | 1689 | 3021891 |
|  First Hawaiian, Inc. | 8036 | 199534 |
|  First Horizon Corp. | 32263 | 729466 |
|  FNB Corp. | 22780 | 366986 |
|  Huntington Bancshares, Inc. | 92814 | 1602898 |
|  JPMorgan Chase & Co. | 232893 | 73461439 |
|  KeyCorp | 60686 | 1134221 |
|  M&T Bank Corp. | 19984 | 3949238 |
|  Mitsubishi UFJ Financial Group, Inc. (ADR)(x) | 539750 | 8603615 |
|  Pinnacle Financial Partners, Inc. | 4561 | 427776 |
|  PNC Financial Services Group, Inc. (The) | 94991 | 19086542 |
|  Popular, Inc. | 3951 | 501816 |
|  Prosperity Bancshares, Inc. | 5868 | 389342 |
|  Regions Financial Corp. | 57654 | 1520336 |
|  SouthState Bank Corp. | 6436 | 636327 |
|  Synovus Financial Corp. | 8899 | 436763 |
|  TFS Financial Corp.(x) | 3363 | 44308 |
|  Truist Financial Corp. | 84081 | 3844183 |
|  US Bancorp | 277108 | 13392630 |
|  Webster Financial Corp. | 10737 | 638207 |
|  Wells Fargo & Co. | 437273 | 36652223 |
|  Western Alliance Bancorp | 5474 | 474705 |
|  Wintrust Financial Corp. | 4235 | 560883 |
|  Zions Bancorp NA | 9306 | 526533 |
|  |  | 228935471 |
|  ***Capital Markets (4.8%)*** |  |  |
|  Affiliated Managers Group, Inc. | 1793 | 427505 |
|  Ameriprise Financial, Inc. | 24934 | 12248827 |
|  Bank of New York Mellon Corp. (The) | 42604 | 4642132 |
|  BlackRock, Inc. | 14967 | 17449576 |
|  Blackstone, Inc. | 48185 | 8232407 |
|  Brookfield Asset Management Ltd., Class A(x) | 16072 | 915140 |
|  Carlyle Group, Inc. (The) | 16784 | 1052357 |
|  Cboe Global Markets, Inc. | 6723 | 1648816 |
|  Charles Schwab Corp. (The) | 137840 | 13159585 |
|  CME Group, Inc. | 29903 | 8079492 |
|  Coinbase Global, Inc., Class A\* | 11946 | 4031656 |
|  Evercore, Inc., Class A | 2366 | 798099 |
|  FactSet Research Systems, Inc. | 2278 | 652624 |
|  Franklin Resources, Inc. | 19725 | 456239 |
|  Freedom Holding Corp.(x)\* | 169 | 29090 |
|  Goldman Sachs Group, Inc. (The) | 21099 | 16802189 |
|  Hamilton Lane, Inc., Class A | 892 | 120233 |
|  Houlihan Lokey, Inc., Class A | 2148 | 441027 |
|  Interactive Brokers Group, Inc., Class A | 25730 | 1770481 |
|  Intercontinental Exchange, Inc. | 36613 | 6168558 |
|  Invesco Ltd. | 23355 | 535764 |
|  Janus Henderson Group plc | 8055 | 358528 |
|  Jefferies Financial Group, Inc. | 7426 | 485809 |
|  KKR & Co., Inc. | 80720 | 10489564 |
|  Lazard, Inc. | 5688 | 300213 |
|  LPL Financial Holdings, Inc. | 6339 | 2108922 |
|  MarketAxess Holdings, Inc. | 2339 | 407571 |
|  Morgan Stanley | 153216 | 24355215 |
|  Morningstar, Inc. | 484 | 112293 |
|  MSCI, Inc. | 2452 | 1391289 |
|  Nasdaq, Inc. | 99435 | 8795026 |
|  Northern Trust Corp. | 12409 | 1670251 |
|  Raymond James Financial, Inc. | 11733 | 2025116 |
|  Robinhood Markets, Inc., Class A\* | 41139 | 5890282 |
|  S&P Global, Inc. | 19706 | 9591107 |

---

See Notes to Portfolio of Investments.

651

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SEI Investments Co. | 6675 | $566374 |
|  State Street Corp. | 18484 | 2144329 |
|  Stifel Financial Corp. | 6411 | 727456 |
| T. Rowe Price Group, Inc. | 14038 | 1440860 |
|  TPG, Inc., Class A | 510 | 29299 |
|  Tradeweb Markets, Inc., Class A | 6854 | 760657 |
|  Virtu Financial, Inc., Class A | 5177 | 183783 |
|  XP, Inc., Class A | 23711 | 445530 |
|  |  | 173941271 |
|  ***Consumer Finance (1.2%)*** |  |  |
|  Ally Financial, Inc. | 15622 | 612382 |
|  American Express Co. | 48129 | 15986529 |
|  Capital One Financial Corp. | 100880 | 21445071 |
|  Credit Acceptance Corp.\* | 395 | 184437 |
|  OneMain Holdings, Inc. | 7643 | 431524 |
|  SLM Corp. | 11574 | 320368 |
|  SoFi Technologies, Inc.\* | 62720 | 1657062 |
|  Synchrony Financial | 53052 | 3769345 |
|  |  | 44406718 |
|  ***Financial Services (2.6%)*** |  |  |
|  Affirm Holdings, Inc., Class A\* | 6979 | 510025 |
|  Apollo Global Management, Inc. | 8032 | 1070425 |
|  Berkshire Hathaway, Inc., Class B\* | 121384 | 61024592 |
|  Block, Inc., Class A\* | 22015 | 1591024 |
|  Corebridge Financial, Inc. | 162057 | 5193927 |
|  Euronet Worldwide, Inc.(x)\* | 2603 | 228569 |
|  Fidelity National Information Services, Inc. | 33794 | 2228376 |
|  Fiserv, Inc.\* | 37436 | 4826624 |
|  Global Payments, Inc. | 30663 | 2547482 |
|  Jack Henry & Associates, Inc. | 4659 | 693865 |
|  Mastercard, Inc., Class A | 5709 | 3247336 |
|  MGIC Investment Corp. | 14971 | 424727 |
|  Mr Cooper Group, Inc. | 4125 | 869509 |
|  PayPal Holdings, Inc.\* | 66300 | 4446078 |
|  Rocket Cos., Inc., Class A(x) | 14835 | 287502 |
|  UWM Holdings Corp., Class A | 8948 | 54493 |
|  Visa, Inc., Class A | 7170 | 2447695 |
|  Voya Financial, Inc. | 6170 | 461516 |
|  Western Union Co. (The) | 21186 | 169276 |
|  WEX, Inc.\* | 2001 | 315218 |
|  |  | 92638259 |
|  ***Insurance (3.5%)*** |  |  |
|  Aflac, Inc. | 31262 | 3491966 |
|  Allstate Corp. (The) | 16935 | 3635098 |
|  American Financial Group, Inc. | 4243 | 618290 |
|  American International Group, Inc. | 153684 | 12070341 |
|  Aon plc, Class A | 18859 | 6724742 |
|  Arch Capital Group Ltd. | 23415 | 2124443 |
|  Arthur J Gallagher & Co. | 15284 | 4734066 |
|  Assurant, Inc. | 3252 | 704383 |
|  Assured Guaranty Ltd. | 2988 | 252934 |
|  Axis Capital Holdings Ltd. | 4868 | 466355 |
|  Brighthouse Financial, Inc.\* | 3667 | 194644 |
|  Brown & Brown, Inc. | 15814 | 1483195 |
|  Chubb Ltd. | 44538 | 12570851 |
|  Cincinnati Financial Corp. | 9886 | 1562977 |
|  CNA Financial Corp. | 1342 | 62349 |
|  Everest Group Ltd. | 7631 | 2672605 |
|  Fidelity National Financial, Inc. | 16683 | 1009155 |
|  First American Financial Corp. | 6310 | 405354 |
|  Globe Life, Inc. | 5321 | 760743 |
|  Hanover Insurance Group, Inc. (The) | 2298 | 417386 |
|  Hartford Insurance Group, Inc. (The) | 28006 | 3735720 |
|  Kemper Corp. | 3923 | 202231 |
|  Lincoln National Corp. | 10928 | 440726 |
|  Loews Corp. | 10965 | 1100776 |
|  Markel Group, Inc.\* | 636 | 1215625 |
|  Marsh & McLennan Cos., Inc. | 63755 | 12848545 |
|  MetLife, Inc. | 53513 | 4407866 |
|  Old Republic International Corp. | 14666 | 622865 |
|  Primerica, Inc. | 2116 | 587381 |
|  Principal Financial Group, Inc. | 14252 | 1181633 |
|  Progressive Corp. (The) | 89785 | 22172406 |
|  Prudential Financial, Inc. | 22759 | 2361019 |
|  Reinsurance Group of America, Inc. | 4233 | 813286 |
|  RenaissanceRe Holdings Ltd. | 3066 | 778549 |
|  RLI Corp. | 4970 | 324143 |
|  Sony Financial Group, Inc. (ADR)\* | 81027 | 299801 |
|  Travelers Cos., Inc. (The) | 38227 | 10673743 |
|  Unum Group | 18844 | 1465686 |
|  W.R. Berkley Corp. | 19488 | 1493171 |
|  White Mountains Insurance Group Ltd. | 160 | 267443 |
|  Willis Towers Watson plc | 11787 | 4071819 |
|  |  | 127026311 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.1%)*** |  |  |
|  AGNC Investment Corp. (REIT)(x) | 60805 | 595281 |
|  Annaly Capital Management, Inc. (REIT) | 38373 | 775519 |
|  Rithm Capital Corp. (REIT) | 33952 | 386713 |
|  Starwood Property Trust, Inc. (REIT) | 21952 | 425210 |
|  |  | 2182723 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 669130753 |
|  **Health Care (9.5%)** |  |  |
|  ***Biotechnology (1.1%)*** |  |  |
|  AbbVie, Inc. | 44274 | 10251202 |
|  Amgen, Inc. | 37374 | 10546943 |
|  Biogen, Inc.\* | 9375 | 1313250 |
|  BioMarin Pharmaceutical, Inc.\* | 12201 | 660806 |
|  Caris Life Sciences, Inc.\* | 722 | 21841 |
|  Exact Sciences Corp.\* | 11295 | 617949 |
|  Exelixis, Inc.\* | 3308 | 136620 |
|  Gilead Sciences, Inc. | 81666 | 9064926 |
|  Incyte Corp.\* | 7527 | 638365 |
|  Insmed, Inc.\* | 719 | 103543 |
|  Ionis Pharmaceuticals, Inc.\* | 705 | 46121 |
|  Moderna, Inc.\* | 24087 | 622167 |
|  Neurocrine Biosciences, Inc.\* | 897 | 125921 |
|  Regeneron Pharmaceuticals, Inc. | 6693 | 3763273 |
|  Revolution Medicines, Inc.\* | 11122 | 519397 |
|  Roivant Sciences Ltd.\* | 24313 | 367856 |
|  Sarepta Therapeutics, Inc.\* | 999 | 19251 |
|  United Therapeutics Corp.\* | 2851 | 1195168 |
|  Viking Therapeutics, Inc.(x)\* | 6440 | 169243 |
|  |  | 40183842 |
|  ***Health Care Equipment & Supplies (2.1%)*** |  |  |
|  Abbott Laboratories | 152779 | 20463219 |
|  Alcon AG | 81124 | 6044549 |
|  Align Technology, Inc.\* | 4399 | 550843 |
|  Baxter International, Inc. | 32874 | 748541 |
|  Becton Dickinson & Co. | 18357 | 3435880 |
|  Boston Scientific Corp.\* | 78402 | 7654387 |
|  Cooper Cos., Inc. (The)\* | 12783 | 876403 |
|  Dentsply Sirona, Inc. | 12779 | 162166 |
|  Edwards Lifesciences Corp.\* | 36937 | 2872591 |
|  Envista Holdings Corp.\* | 10774 | 219466 |
|  GE HealthCare Technologies, Inc. | 29375 | 2206063 |
|  Globus Medical, Inc., Class A\* | 7196 | 412115 |
|  Hologic, Inc.\* | 14316 | 966187 |
|  Medtronic plc | 181909 | 17325013 |
|  ResMed, Inc. | 7154 | 1958264 |
|  Solventum Corp.\* | 9475 | 691675 |

---

See Notes to Portfolio of Investments.

652

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  STERIS plc | 6301 | $1559119 |
|  Stryker Corp. | 16409 | 6065915 |
|  Teleflex, Inc. | 2865 | 350561 |
|  Zimmer Biomet Holdings, Inc. | 15554 | 1532069 |
|  |  | 76095026 |
|  ***Health Care Providers & Services (2.7%)*** |  |  |
|  Acadia Healthcare Co., Inc.\* | 5839 | 144574 |
|  Cardinal Health, Inc. | 14987 | 2352360 |
|  Centene Corp.\* | 56109 | 2001969 |
|  Chemed Corp. | 839 | 375654 |
|  Cigna Group (The) | 54258 | 15639869 |
|  CVS Health Corp. | 93048 | 7014889 |
|  Elevance Health, Inc. | 24884 | 8040518 |
|  Encompass Health Corp. | 26465 | 3361584 |
|  HCA Healthcare, Inc. | 13676 | 5828711 |
|  Henry Schein, Inc.\* | 7030 | 466581 |
|  Humana, Inc. | 15477 | 4026651 |
|  Labcorp Holdings, Inc. | 21875 | 6279437 |
|  McKesson Corp. | 17143 | 13243653 |
|  Molina Healthcare, Inc.\* | 1553 | 297182 |
|  Quest Diagnostics, Inc. | 7154 | 1363409 |
|  Tenet Healthcare Corp.\* | 5877 | 1193266 |
|  UnitedHealth Group, Inc. | 68893 | 23788753 |
|  Universal Health Services, Inc., Class B | 3533 | 722287 |
|  |  | 96141347 |
|  ***Health Care Technology (0.0%)†*** |  |  |
|  Certara, Inc.\* | 7780 | 95072 |
|  Veeva Systems, Inc., Class A\* | 1932 | 575562 |
|  |  | 670634 |
|  ***Life Sciences Tools & Services (1.2%)*** |  |  |
|  Agilent Technologies, Inc. | 18287 | 2347137 |
|  Avantor, Inc.\* | 42396 | 529102 |
|  Bio-Rad Laboratories, Inc., Class A\* | 1244 | 348805 |
|  Bio-Techne Corp. | 10064 | 559860 |
|  Bruker Corp. | 6629 | 215376 |
|  Charles River Laboratories International, Inc.\* | 3131 | 489876 |
|  Danaher Corp. | 73009 | 14474764 |
|  ICON plc\* | 16631 | 2910425 |
|  Illumina, Inc.\* | 10152 | 964136 |
|  IQVIA Holdings, Inc.\* | 11244 | 2135686 |
|  Mettler-Toledo International, Inc.\* | 1335 | 1638859 |
|  QIAGEN NV(x) | 13677 | 611088 |
|  Repligen Corp.\* | 2960 | 395663 |
|  Revvity, Inc. | 7710 | 675782 |
|  Sotera Health Co.\* | 10101 | 158889 |
|  Thermo Fisher Scientific, Inc. | 29962 | 14532169 |
|  Waters Corp.\* | 1823 | 546554 |
|  West Pharmaceutical Services, Inc. | 4594 | 1205144 |
|  |  | 44739315 |
|  ***Pharmaceuticals (2.4%)*** |  |  |
|  Bristol-Myers Squibb Co. | 129694 | 5849199 |
|  Elanco Animal Health, Inc.(x)\* | 31582 | 636061 |
|  Jazz Pharmaceuticals plc\* | 3807 | 501763 |
|  Johnson & Johnson | 213443 | 39576601 |
|  Merck & Co., Inc. | 288243 | 24192235 |
|  Organon & Co. | 16665 | 177982 |
|  Perrigo Co. plc | 8742 | 194684 |
|  Pfizer, Inc.# | 530687 | 13521905 |
|  Royalty Pharma plc, Class A | 47703 | 1682962 |
|  Viatris, Inc. | 76112 | 753509 |
|  Zoetis, Inc. | 5793 | 847632 |
|  |  | 87934533 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 345764697 |
|  **Industrials (10.4%)** |  |  |
|  ***Aerospace & Defense (2.8%)*** |  |  |
|  ATI, Inc.\* | 8976 | 730108 |
|  Boeing Co. (The)\* | 80185 | 17306329 |
|  BWX Technologies, Inc. | 4825 | 889585 |
|  Curtiss-Wright Corp. | 2412 | 1309571 |
|  General Dynamics Corp. | 68394 | 23322354 |
|  Hexcel Corp.(x) | 33093 | 2074931 |
|  Huntington Ingalls Industries, Inc. | 2503 | 720639 |
|  L3Harris Technologies, Inc. | 11985 | 3660339 |
|  Leonardo DRS, Inc. | 2945 | 133703 |
|  Loar Holdings, Inc.\* | 262 | 20960 |
|  Lockheed Martin Corp. | 9672 | 4828359 |
|  Northrop Grumman Corp. | 16761 | 10212812 |
|  RTX Corp. | 179925 | 30106850 |
|  Spirit AeroSystems Holdings, Inc., Class A\* | 6682 | 257925 |
|  StandardAero, Inc.\* | 8288 | 226180 |
|  Textron, Inc. | 11548 | 975690 |
|  TransDigm Group, Inc. | 2927 | 3857845 |
|  Woodward, Inc. | 3804 | 961309 |
|  |  | 101595489 |
|  ***Air Freight & Logistics (0.3%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 18530 | 2453372 |
|  Expeditors International of |  |  |
|  Washington, Inc. | 8797 | 1078424 |
|  FedEx Corp. | 13971 | 3294501 |
|  GXO Logistics, Inc.\* | 7368 | 389694 |
|  United Parcel Service, Inc., Class B | 47105 | 3934681 |
|  |  | 11150672 |
|  ***Building Products (0.5%)*** |  |  |
|  A.O. Smith Corp. | 7418 | 544555 |
|  Advanced Drainage Systems, Inc. | 4534 | 628866 |
|  Allegion plc | 5522 | 979327 |
|  Armstrong World Industries, Inc. | 1949 | 382023 |
|  Builders FirstSource, Inc.(x)\* | 28640 | 3472600 |
|  Carlisle Cos., Inc. | 2428 | 798715 |
|  Carrier Global Corp. | 51690 | 3085893 |
|  Fortune Brands Innovations, Inc. | 7762 | 414413 |
|  Hayward Holdings, Inc.\* | 12735 | 192553 |
|  Johnson Controls International plc | 42369 | 4658472 |
|  Masco Corp. | 13541 | 953151 |
|  Owens Corning | 5447 | 770533 |
|  Simpson Manufacturing Co., Inc. | 2467 | 413124 |
|  Trane Technologies plc | 2529 | 1067137 |
|  Trex Co., Inc.\* | 6848 | 353836 |
|  |  | 18715198 |
|  ***Commercial Services & Supplies (0.2%)*** |  |  |
|  Clean Harbors, Inc.\* | 3251 | 754947 |
|  Copart, Inc.\* | 3891 | 174978 |
|  MSA Safety, Inc. | 2373 | 408322 |
|  RB Global, Inc. | 11172 | 1210598 |
|  Republic Services, Inc. | 13001 | 2983470 |
|  Tetra Tech, Inc. | 13955 | 465818 |
|  Veralto Corp. | 9229 | 983904 |
|  |  | 6982037 |
|  ***Construction & Engineering (0.2%)*** |  |  |
|  AECOM | 8492 | 1107951 |
|  API Group Corp.\* | 23644 | 812644 |
|  EMCOR Group, Inc. | 1858 | 1206846 |
|  Everus Construction Group, Inc.\* | 3264 | 279888 |
|  MasTec, Inc.\* | 3151 | 670565 |
|  Quanta Services, Inc. | 2129 | 882300 |
|  Valmont Industries, Inc. | 1273 | 493580 |
|  WillScot Holdings Corp. | 8511 | 179667 |
|  |  | 5633441 |

---

See Notes to Portfolio of Investments.

653

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  ***Electrical Equipment (0.9%)*** |  |  |
|  Acuity, Inc. | 1981 | $682236 |
|  AMETEK, Inc. | 14785 | 2779580 |
|  Eaton Corp. plc | 46112 | 17257416 |
|  Emerson Electric Co. | 36172 | 4745043 |
|  GE Vernova, Inc. | 3023 | 1858843 |
|  Generac Holdings, Inc.\* | 3747 | 627248 |
|  Hubbell, Inc., Class B | 3433 | 1477254 |
|  nVent Electric plc | 10453 | 1031084 |
|  Regal Rexnord Corp. | 4238 | 607899 |
|  Rockwell Automation, Inc. | 6678 | 2334161 |
|  Sensata Technologies Holding plc | 9308 | 284359 |
|  Vertiv Holdings Co., Class A | 2010 | 303229 |
|  |  | 33988352 |
|  ***Ground Transportation (1.1%)*** |  |  |
|  ArcBest Corp. | 4576 | 319725 |
|  Avis Budget Group, Inc.(x)\* | 711 | 114169 |
|  Canadian National Railway Co. | 12394 | 1168754 |
|  CSX Corp. | 120472 | 4277961 |
|  JB Hunt Transport Services, Inc. | 5122 | 687219 |
|  Knight-Swift Transportation Holdings, Inc., Class A | 10102 | 399130 |
|  Landstar System, Inc. | 2225 | 272696 |
|  Lyft, Inc., Class A\* | 21448 | 472070 |
|  Norfolk Southern Corp. | 14493 | 4353842 |
|  Old Dominion Freight Line, Inc. | 11287 | 1588984 |
|  Ryder System, Inc. | 2581 | 486880 |
|  Saia, Inc.\* | 1710 | 511906 |
|  Schneider National, Inc., Class B | 3316 | 70167 |
|  Uber Technologies, Inc.\* | 91827 | 8996291 |
|  U-Haul Holding Co. (Nasdaq Stock Exchange)\* | 305 | 17406 |
|  U-Haul Holding Co. (New York Stock Exchange) | 4018 | 204516 |
|  Union Pacific Corp. | 61145 | 14452844 |
|  XPO, Inc.\* | 5842 | 755195 |
|  |  | 39149755 |
|  ***Industrial Conglomerates (0.5%)*** |  |  |
|  3M Co. | 29017 | 4502858 |
|  Honeywell International, Inc. | 63069 | 13276024 |
|  |  | 17778882 |
|  ***Machinery (2.8%)*** |  |  |
|  AGCO Corp. | 3981 | 426246 |
|  Allison Transmission Holdings, Inc. | 4535 | 384931 |
|  Caterpillar, Inc. | 30068 | 14346946 |
|  CNH Industrial NV | 238927 | 2592358 |
|  Crane Co. | 3157 | 581330 |
|  Cummins, Inc. | 8832 | 3730372 |
|  Deere & Co. | 20845 | 9531585 |
|  Donaldson Co., Inc. | 7643 | 625580 |
|  Dover Corp. | 8702 | 1451755 |
|  Esab Corp. | 3653 | 408186 |
|  Flowserve Corp. | 8360 | 444250 |
|  Fortive Corp. | 39718 | 1945785 |
|  Gates Industrial Corp. plc\* | 16272 | 403871 |
|  Graco, Inc. | 10654 | 905164 |
|  IDEX Corp. | 4851 | 789549 |
|  Illinois Tool Works, Inc. | 27475 | 7164381 |
|  Ingersoll Rand, Inc. | 25900 | 2139858 |
|  ITT, Inc. | 5173 | 924725 |
|  Lincoln Electric Holdings, Inc. | 3480 | 820688 |
|  Middleby Corp. (The)\* | 3235 | 430029 |
|  Mueller Industries, Inc. | 6959 | 703624 |
|  Nordson Corp. | 3459 | 785020 |
|  Oshkosh Corp. | 48464 | 6285781 |
|  Otis Worldwide Corp. | 36559 | 3342589 |
|  PACCAR, Inc. | 73151 | 7192206 |
|  Parker-Hannifin Corp. | 32450 | 24601967 |
|  Pentair plc | 17112 | 1895325 |
|  RBC Bearings, Inc.\* | 1585 | 618610 |
|  Snap-on, Inc. | 3289 | 1139737 |
|  Stanley Black & Decker, Inc. | 9919 | 737279 |
|  Timken Co. (The) | 4014 | 301772 |
|  Toro Co. (The) | 6399 | 487604 |
|  Westinghouse Air Brake Technologies Corp.# | 10882 | 2181515 |
|  Xylem, Inc. | 15616 | 2303360 |
|  |  | 102623978 |
|  ***Marine Transportation (0.0%)†*** |  |  |
|  Kirby Corp.\* | 3633 | 303174 |
|  ***Passenger Airlines (0.2%)*** |  |  |
|  Alaska Air Group, Inc.\* | 6499 | 323520 |
|  American Airlines Group, Inc.\* | 39214 | 440766 |
|  Delta Air Lines, Inc. | 41855 | 2375271 |
|  Southwest Airlines Co. | 29355 | 936718 |
|  United Airlines Holdings, Inc.\* | 20888 | 2015692 |
|  |  | 6091967 |
|  ***Professional Services (0.5%)*** |  |  |
|  Amentum Holdings, Inc.\* | 10217 | 244697 |
|  Automatic Data Processing, Inc. | 1906 | 559411 |
|  Broadridge Financial Solutions, Inc. | 684 | 162908 |
|  CACI International, Inc., Class A\* | 1393 | 694801 |
|  Clarivate plc\* | 22719 | 87014 |
|  Concentrix Corp.(x) | 2909 | 134250 |
|  Dayforce, Inc.\* | 8896 | 612845 |
|  Equifax, Inc. | 20115 | 5160101 |
|  FTI Consulting, Inc.\* | 2146 | 346901 |
|  Genpact Ltd. | 10329 | 432682 |
|  Jacobs Solutions, Inc. | 14531 | 2177616 |
|  KBR, Inc. | 7623 | 360492 |
|  Leidos Holdings, Inc. | 12475 | 2357276 |
|  ManpowerGroup, Inc. | 2955 | 111994 |
|  Parsons Corp.\* | 3386 | 280767 |
|  Paychex, Inc. | 14228 | 1803541 |
|  Paycom Software, Inc. | 1493 | 310753 |
|  Paylocity Holding Corp.\* | 239 | 38066 |
|  Robert Half, Inc. | 6346 | 215637 |
|  Science Applications International Corp. | 3016 | 299700 |
|  SS&C Technologies Holdings, Inc. | 13572 | 1204651 |
|  TransUnion | 12509 | 1048004 |
|  Verisk Analytics, Inc. | 3591 | 903172 |
|  |  | 19547279 |
|  ***Trading Companies & Distributors (0.4%)*** |  |  |
|  Air Lease Corp., Class A | 6684 | 425437 |
|  Applied Industrial Technologies, Inc. | 2445 | 638267 |
|  Core & Main, Inc., Class A\* | 5111 | 275125 |
|  Fastenal Co. | 13165 | 645612 |
|  Ferguson Enterprises, Inc. | 11698 | 2627137 |
|  MSC Industrial Direct Co., Inc., Class A | 2820 | 259835 |
|  QXO, Inc.\* | 38194 | 727978 |
|  SiteOne Landscape Supply, Inc.\* | 1924 | 247811 |
|  United Rentals, Inc. | 4161 | 3972340 |
|  W.W. Grainger, Inc. | 2260 | 2153689 |
|  Watsco, Inc. | 2233 | 902802 |
|  WESCO International, Inc. | 3075 | 650362 |
|  |  | 13526395 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 377086619 |
|  **Information Technology (11.5%)** |  |  |
|  ***Communications Equipment (0.7%)*** |  |  |
|  Ciena Corp.\* | 9052 | 1318605 |

---

See Notes to Portfolio of Investments.

654

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Cisco Systems, Inc.# | 255445 | $17477547 |
|  F5, Inc.\* | 7260 | 2346359 |
|  Lumentum Holdings, Inc.\* | 4078 | 663531 |
|  Motorola Solutions, Inc. | 6189 | 2830168 |
|  |  | 24636210 |
|  ***Electronic Equipment, Instruments & Components (0.8%)*** |  |  |
|  Arrow Electronics, Inc.\* | 9095 | 1100495 |
|  Avnet, Inc. | 5514 | 288272 |
|  CDW Corp. | 13133 | 2091824 |
|  Cognex Corp. | 10767 | 487745 |
|  Coherent Corp.\* | 9845 | 1060503 |
|  Corning, Inc. | 50106 | 4110195 |
|  Crane NXT Co.(x) | 3142 | 210734 |
|  Flex Ltd.\* | 24462 | 1418062 |
|  Ingram Micro Holding Corp.(x) | 1316 | 28281 |
|  IPG Photonics Corp.\* | 1604 | 127021 |
|  Jabil, Inc. | 2352 | 510784 |
|  Keysight Technologies, Inc.\* | 11042 | 1931467 |
|  Littelfuse, Inc. | 1576 | 408200 |
|  Ralliant Corp. | 7261 | 317523 |
|  TD SYNNEX Corp. | 5049 | 826774 |
|  Teledyne Technologies, Inc.\* | 17942 | 10514730 |
|  Trimble, Inc.\* | 15289 | 1248347 |
|  Vontier Corp. | 9489 | 398253 |
|  Zebra Technologies Corp., Class A\* | 3262 | 969336 |
|  |  | 28048546 |
|  ***IT Services (1.2%)*** |  |  |
|  Accenture plc, Class A | 64396 | 15880054 |
|  Akamai Technologies, Inc.\* | 9208 | 697598 |
|  Amdocs Ltd. | 7085 | 581324 |
|  Cognizant Technology Solutions Corp., Class A | 31685 | 2125113 |
|  DXC Technology Co.\* | 11514 | 156936 |
|  EPAM Systems, Inc.\* | 3514 | 529876 |
|  Globant SA\* | 2502 | 143565 |
|  GoDaddy, Inc., Class A\* | 5235 | 716305 |
|  International Business Machines Corp. | 59713 | 16848620 |
|  Kyndryl Holdings, Inc.\* | 13881 | 416846 |
|  MongoDB, Inc.\* | 4579 | 1421230 |
|  Okta, Inc.\* | 6408 | 587614 |
|  Twilio, Inc., Class A\* | 7525 | 753177 |
|  VeriSign, Inc. | 10492 | 2933248 |
|  |  | 43791506 |
|  ***Semiconductors & Semiconductor Equipment (4.7%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 42898 | 6940467 |
|  Allegro MicroSystems, Inc.\* | 7889 | 230359 |
|  Amkor Technology, Inc. | 7329 | 208144 |
|  Analog Devices, Inc. | 60733 | 14922098 |
|  Applied Materials, Inc. | 50204 | 10278767 |
|  Broadcom, Inc. | 29722 | 9805585 |
|  Cirrus Logic, Inc.\* | 3398 | 425735 |
|  Entegris, Inc. | 8052 | 744488 |
|  First Solar, Inc.\* | 6514 | 1436532 |
|  GLOBALFOUNDRIES, Inc.\* | 6593 | 236293 |
|  Intel Corp.\* | 315942 | 10599854 |
|  KLA Corp. | 6597 | 7115524 |
|  Lam Research Corp. | 39075 | 5232143 |
|  Lattice Semiconductor Corp.\* | 1302 | 95463 |
|  MACOM Technology Solutions Holdings, Inc.\* | 3053 | 380068 |
|  Marvell Technology, Inc. | 51607 | 4338601 |
|  Microchip Technology, Inc. | 143537 | 9217946 |
|  Micron Technology, Inc. | 75181 | 12579285 |
|  MKS, Inc. | 4311 | 533573 |
|  NVIDIA Corp. | 172532 | 32191021 |
|  NXP Semiconductors NV | 39731 | 9047941 |
|  ON Semiconductor Corp.\* | 27055 | 1334082 |
|  Onto Innovation, Inc.\* | 2427 | 313617 |
|  Qorvo, Inc.\* | 5978 | 544476 |
|  QUALCOMM, Inc. | 121284 | 20176806 |
|  Skyworks Solutions, Inc. | 9836 | 757175 |
|  Teradyne, Inc. | 10321 | 1420582 |
|  Texas Instruments, Inc. | 60322 | 11082961 |
|  Universal Display Corp. | 2819 | 404893 |
|  |  | 172594479 |
|  ***Software (3.0%)*** |  |  |
|  Adobe, Inc.\* | 22318 | 7872674 |
|  Aurora Innovation, Inc., Class A\* | 63215 | 340729 |
|  BILL Holdings, Inc.\* | 5915 | 313318 |
|  CCC Intelligent Solutions Holdings, Inc.(x)\* | 35156 | 320271 |
|  Circle Internet Group, Inc., Class A\* | 2555 | 338742 |
|  Docusign, Inc.\* | 3150 | 227083 |
|  Dolby Laboratories, Inc., Class A | 3880 | 280796 |
|  Dropbox, Inc., Class A\* | 9549 | 288475 |
|  Fair Isaac Corp.\* | 268 | 401070 |
|  Fortinet, Inc.\* | 7314 | 614961 |
|  Gen Digital, Inc. | 152202 | 4321015 |
|  Informatica, Inc., Class A\* | 6727 | 167099 |
|  Microsoft Corp. | 82388 | 42672865 |
|  nCino, Inc.\* | 5881 | 159434 |
|  Nutanix, Inc., Class A\* | 12343 | 918196 |
|  Oracle Corp. | 27523 | 7740569 |
|  Palantir Technologies, Inc., Class A\* | 7959 | 1451881 |
|  Pegasystems, Inc. | 3729 | 214417 |
|  PTC, Inc.\* | 6769 | 1374242 |
|  Roper Technologies, Inc. | 6890 | 3435974 |
|  Rubrik, Inc., Class A\* | 2511 | 206530 |
|  SailPoint, Inc.\* | 3858 | 85185 |
|  Salesforce, Inc. | 65806 | 15596022 |
|  SentinelOne, Inc., Class A\* | 5204 | 91642 |
|  Strategy, Inc.\* | 15143 | 4879226 |
|  Synopsys, Inc.\* | 20359 | 10044927 |
|  Teradata Corp.\* | 4718 | 101484 |
|  Tyler Technologies, Inc.\* | 471 | 246408 |
|  UiPath, Inc., Class A\* | 27953 | 374011 |
|  Unity Software, Inc.\* | 19140 | 766366 |
|  Zoom Communications, Inc., Class A\* | 16862 | 1391115 |
|  Zscaler, Inc.\* | 2087 | 625390 |
|  |  | 107862117 |
|  ***Technology Hardware, Storage & Peripherals (1.1%)*** |  |  |
|  Apple, Inc. | 101921 | 25952144 |
|  Dell Technologies, Inc., Class C | 17613 | 2496995 |
|  Hewlett Packard Enterprise Co. | 84153 | 2066798 |
|  HP, Inc. | 60530 | 1648232 |
|  NetApp, Inc. | 7888 | 934412 |
|  Pure Storage, Inc., Class A\* | 2845 | 238439 |
|  Sandisk Corp.\* | 22838 | 2562424 |
|  Super Micro Computer, Inc.(x)\* | 17846 | 855537 |
|  Western Digital Corp. | 41175 | 4943471 |
|  |  | 41698452 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 418631310 |
|  **Materials (3.7%)** |  |  |
|  ***Chemicals (2.1%)*** |  |  |
|  Air Products and Chemicals, Inc. | 39749 | 10840347 |
|  Albemarle Corp. | 7541 | 611424 |
|  Ashland, Inc. | 3002 | 143826 |
|  Axalta Coating Systems Ltd.\* | 14003 | 400766 |
|  Celanese Corp. | 7161 | 301335 |
|  CF Industries Holdings, Inc. | 10630 | 953511 |
|  Corteva, Inc. | 242159 | 16377213 |

---

See Notes to Portfolio of Investments.

655

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Dow, Inc. | 45410 | $1041251 |
|  DuPont de Nemours, Inc. | 26863 | 2092628 |
|  Eastman Chemical Co. | 7365 | 464363 |
|  Ecolab, Inc. | 46427 | 12714498 |
|  Element Solutions, Inc. | 14451 | 363732 |
|  FMC Corp. | 7962 | 267762 |
|  Huntsman Corp. | 10546 | 94703 |
|  International Flavors & Fragrances, Inc. | 16441 | 1011779 |
|  Linde plc | 30138 | 14315550 |
|  LyondellBasell Industries NV, Class A | 16439 | 806169 |
|  Mosaic Co. (The) | 20249 | 702235 |
|  NewMarket Corp. | 380 | 314720 |
|  Olin Corp. | 7368 | 184126 |
|  PPG Industries, Inc. | 14585 | 1533030 |
|  RPM International, Inc. | 74975 | 8838053 |
|  Scotts Miracle-Gro Co. (The) | 2802 | 159574 |
|  Sherwin-Williams Co. (The) | 5697 | 1972643 |
|  Westlake Corp. | 2144 | 165217 |
|  |  | 76670455 |
|  ***Construction Materials (0.7%)*** |  |  |
|  CRH plc | 66057 | 7920234 |
|  Eagle Materials, Inc. | 1987 | 463051 |
|  James Hardie Industries plc (ADR)(x)\* | 3129 | 60108 |
|  Martin Marietta Materials, Inc. | 21323 | 13439460 |
|  Vulcan Materials Co. | 8484 | 2609848 |
|  |  | 24492701 |
|  ***Containers & Packaging (0.2%)*** |  |  |
|  Amcor plc | 146040 | 1194607 |
|  AptarGroup, Inc. | 4198 | 561105 |
|  Avery Dennison Corp. | 4992 | 809553 |
|  Ball Corp. | 18124 | 913812 |
|  Crown Holdings, Inc. | 7427 | 717374 |
|  Graphic Packaging Holding Co. | 19111 | 374002 |
|  International Paper Co. | 33636 | 1560710 |
|  Packaging Corp. of America | 5668 | 1235227 |
|  Sealed Air Corp. | 9358 | 330805 |
|  Silgan Holdings, Inc. | 5670 | 243867 |
|  Smurfit WestRock plc | 33435 | 1423328 |
|  Sonoco Products Co. | 6318 | 272243 |
|  |  | 9636633 |
|  ***Metals & Mining (0.7%)*** |  |  |
|  Alcoa Corp. | 16582 | 545382 |
|  Anglogold Ashanti plc | 28405 | 1997724 |
|  Carpenter Technology Corp. | 2542 | 624163 |
|  Cleveland-Cliffs, Inc.\* | 31226 | 380957 |
|  Freeport-McMoRan, Inc. | 91793 | 3600121 |
|  MP Materials Corp.\* | 8298 | 556547 |
|  Newmont Corp. | 95324 | 8036766 |
|  Nucor Corp. | 16855 | 2282673 |
|  Reliance, Inc. | 13187 | 3703305 |
|  Royal Gold, Inc. | 4216 | 845645 |
|  Southern Copper Corp. | 5297 | 642844 |
|  Steel Dynamics, Inc. | 8150 | 1136355 |
|  |  | 24352482 |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Louisiana-Pacific Corp. | 4043 | 359180 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 135511451 |
|  **Real Estate (2.7%)** |  |  |
|  ***Diversified REITs (0.0%)†*** |  |  |
|  WP Carey, Inc. (REIT) | 13910 | 939899 |
|  ***Health Care REITs (0.4%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) | 11007 | 917323 |
|  American Healthcare REIT, Inc. (REIT) | 16923 | 710935 |
|  Healthcare Realty Trust, Inc. (REIT), Class A(x) | 21058 | 379676 |
|  Healthpeak Properties, Inc. (REIT) | 44484 | 851869 |
|  Medical Properties Trust, Inc. (REIT)(x) | 32014 | 162311 |
|  Omega Healthcare Investors, Inc. (REIT) | 18429 | 778072 |
|  Ventas, Inc. (REIT) | 28000 | 1959720 |
|  Welltower, Inc. (REIT) | 42048 | 7490431 |
|  |  | 13250337 |
|  ***Hotel & Resort REITs (0.1%)*** |  |  |
|  Host Hotels & Resorts, Inc. (REIT) | 44007 | 748999 |
|  Park Hotels & Resorts, Inc. (REIT)(x) | 12602 | 139630 |
|  Ryman Hospitality Properties, Inc. (REIT) | 16697 | 1495885 |
|  |  | 2384514 |
|  ***Industrial REITs (0.4%)*** |  |  |
|  Americold Realty Trust, Inc. (REIT) | 18295 | 223931 |
|  EastGroup Properties, Inc. (REIT) | 3345 | 566175 |
|  First Industrial Realty Trust, Inc. (REIT) | 8213 | 422723 |
|  Lineage, Inc. (REIT) | 4532 | 175116 |
|  Prologis, Inc. (REIT) | 111610 | 12781577 |
|  Rexford Industrial Realty, Inc. (REIT) | 15209 | 625242 |
|  STAG Industrial, Inc. (REIT) | 11979 | 422739 |
|  |  | 15217503 |
|  ***Office REITs (0.1%)*** |  |  |
|  BXP, Inc. (REIT)(x) | 10164 | 755592 |
|  COPT Defense Properties (REIT) | 17798 | 517210 |
|  Cousins Properties, Inc. (REIT) | 10708 | 309889 |
|  Highwoods Properties, Inc. (REIT) | 6803 | 216471 |
|  Kilroy Realty Corp. (REIT)(x) | 7527 | 318016 |
|  Vornado Realty Trust (REIT) | 11318 | 458719 |
|  |  | 2575897 |
|  ***Real Estate Management & Development (0.2%)*** |  |  |
|  CBRE Group, Inc., Class A\* | 16986 | 2676314 |
|  CoStar Group, Inc.\* | 23478 | 1980839 |
|  Howard Hughes Holdings, Inc.\* | 1985 | 163107 |
|  Jones Lang LaSalle, Inc.\* | 2212 | 659795 |
|  Zillow Group, Inc., Class A\* | 3202 | 238357 |
|  Zillow Group, Inc., Class C\* | 10435 | 804017 |
|  |  | 6522429 |
|  ***Residential REITs (0.4%)*** |  |  |
|  American Homes 4 Rent (REIT), Class A | 21926 | 729039 |
|  AvalonBay Communities, Inc. (REIT) | 9127 | 1763063 |
|  Camden Property Trust (REIT) | 6897 | 736462 |
|  Equity LifeStyle Properties, Inc. (REIT) | 90935 | 5519754 |
|  Equity Residential (REIT) | 24306 | 1573327 |
|  Essex Property Trust, Inc. (REIT) | 4090 | 1094729 |
|  Invitation Homes, Inc. (REIT) | 39266 | 1151672 |
|  Mid-America Apartment Communities, Inc. (REIT) | 7467 | 1043364 |
|  Sun Communities, Inc. (REIT) | 6556 | 845724 |
|  UDR, Inc. (REIT) | 20041 | 746728 |
|  |  | 15203862 |
|  ***Retail REITs (0.3%)*** |  |  |
|  Agree Realty Corp. (REIT) | 6947 | 493515 |

---

See Notes to Portfolio of Investments.

656

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Brixmor Property Group, Inc. (REIT) | 19537 | $540784 |
|  Federal Realty Investment Trust (REIT) | 5459 | 553051 |
|  Kimco Realty Corp. (REIT) | 42883 | 936994 |
|  NNN REIT, Inc. (REIT) | 11999 | 510797 |
|  Realty Income Corp. (REIT) | 57317 | 3484301 |
|  Regency Centers Corp. (REIT) | 11592 | 845057 |
|  Simon Property Group, Inc. (REIT) | 16178 | 3036125 |
|  |  | 10400624 |
|  ***Specialized REITs (0.8%)*** |  |  |
|  Crown Castle, Inc. (REIT) | 27844 | 2686668 |
|  CubeSmart (REIT) | 14526 | 590627 |
|  Digital Realty Trust, Inc. (REIT) | 32288 | 5581949 |
|  EPR Properties (REIT) | 4788 | 277752 |
|  Equinix, Inc. (REIT) | 6272 | 4912481 |
|  Extra Space Storage, Inc. (REIT) | 38395 | 5411391 |
|  Gaming and Leisure Properties, Inc. (REIT) | 16936 | 789387 |
|  Iron Mountain, Inc. (REIT) | 18828 | 1919326 |
|  Millrose Properties, Inc. (REIT) | 7688 | 258394 |
|  National Storage Affiliates Trust (REIT) | 4518 | 136534 |
|  Public Storage (REIT) | 12386 | 3577696 |
|  Rayonier, Inc. (REIT) | 9935 | 263675 |
|  SBA Communications Corp. (REIT) | 6891 | 1332375 |
|  VICI Properties, Inc. (REIT), Class A | 67777 | 2210208 |
|  Weyerhaeuser Co. (REIT) | 46512 | 1153033 |
|  |  | 31101496 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 97596561 |
|  **Utilities (4.2%)** |  |  |
|  ***Electric Utilities (2.6%)*** |  |  |
|  Alliant Energy Corp. | 16484 | 1111186 |
|  American Electric Power Co., Inc. | 75017 | 8439412 |
|  Constellation Energy Corp. | 20102 | 6614965 |
|  Duke Energy Corp. | 109058 | 13495928 |
|  Edison International | 24460 | 1352149 |
|  Entergy Corp. | 27656 | 2577263 |
|  Evergy, Inc. | 14771 | 1122891 |
|  Eversource Energy | 23578 | 1677339 |
|  Exelon Corp. | 124436 | 5600864 |
|  FirstEnergy Corp. | 35215 | 1613551 |
|  IDACORP, Inc. | 3460 | 457239 |
|  NextEra Energy, Inc. | 132348 | 9990951 |
|  NRG Energy, Inc. | 7576 | 1226933 |
|  OGE Energy Corp. | 12891 | 596467 |
|  PG&E Corp. | 403497 | 6084735 |
|  Pinnacle West Capital Corp. | 7645 | 685451 |
|  PPL Corp. | 47498 | 1765026 |
|  Southern Co. (The) | 140940 | 13356884 |
|  Xcel Energy, Inc. | 203656 | 16424856 |
|  |  | 94194090 |
|  ***Gas Utilities (0.3%)*** |  |  |
|  Atmos Energy Corp. | 69977 | 11948573 |
|  MDU Resources Group, Inc. | 13013 | 231761 |
|  National Fuel Gas Co. | 5755 | 531589 |
|  UGI Corp. | 13799 | 458955 |
|  |  | 13170878 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  AES Corp. (The) | 45561 | 599583 |
|  Brookfield Renewable Corp. | 8667 | 298318 |
|  Clearway Energy, Inc., Class A | 2222 | 59838 |
|  Clearway Energy, Inc., Class C | 5220 | 147465 |
|  Talen Energy Corp.\* | 2911 | 1238281 |
|  Vistra Corp. | 10154 | 1989372 |
|  |  | 4332857 |
|  ***Multi-Utilities (0.9%)*** |  |  |
|  Ameren Corp. | 42846 | 4472265 |
|  CenterPoint Energy, Inc. | 41817 | 1622500 |
|  CMS Energy Corp. | 19091 | 1398607 |
|  Consolidated Edison, Inc. | 23133 | 2325329 |
|  Dominion Energy, Inc. | 162240 | 9924221 |
|  DTE Energy Co. | 13297 | 1880595 |
|  NiSource, Inc. | 30197 | 1307530 |
|  Public Service Enterprise Group, Inc. | 32048 | 2674726 |
|  Sempra | 41893 | 3769532 |
|  WEC Energy Group, Inc. | 20498 | 2348866 |
|  |  | 31724171 |
|  ***Water Utilities (0.3%)*** |  |  |
|  American Water Works Co., Inc. | 66218 | 9216884 |
|  Essential Utilities, Inc. | 17688 | 705751 |
|  |  | 9922635 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 153344631 |
|  **Total Common Stocks (82.1%)**<br> *(Cost $1,740,635,537)* |  | 2978476623 |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (9.1%)** |  |  |
|  iShares Core S&P 500 ETF | 794 | 531424 |
|  iShares Morningstar Growth ETF | 10600 | 1105580 |
|  iShares Morningstar U.S. Equity ETF(x) | 5416 | 500547 |
|  iShares Morningstar Value ETF‡ | 691510 | 62249730 |
|  iShares Russell 1000 ETF(x) | 1631 | 596098 |
|  iShares Russell 1000 Value ETF(x) | 226788 | 46171769 |
|  SPDR Portfolio S&P 500 Growth ETF | 28000 | 2926280 |
|  SPDR Portfolio S&P 500 Value ETF(x) | 1302900 | 72089457 |
|  Vanguard Growth ETF | 7190 | 3448396 |
|  Vanguard Large-Cap ETF | 1464 | 450707 |
|  Vanguard Russell 1000 Growth ETF | 32000 | 3856000 |
|  Vanguard Russell 1000 Value ETF | 723000 | 64614510 |
|  Vanguard Value ETF | 376501 | 70213671 |
|  **Total Exchange Traded Funds (9.1%)**<br> *(Cost $189,157,275)* |  | 328754169 |
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Biotechnology (0.0%)†*** |  |  |
|  Mirati Therapeutics, Inc., CVR(r)\*<br>*(Cost $2,342)* | 4461 | 1673 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (2.3%)** |  |  |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 15000000 | 15000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 920451 | 920451 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 65112686 | 65138731 |

---

See Notes to Portfolio of Investments.

657

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 1000000 | $1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 82059182 |
|  **Total Short-Term Investments (2.3%)**<br> *(Cost $82,055,318)* |  | 82059182 |
|  **Total Investments in Securities (93.5%)**<br> *(Cost $2,011,850,472)* |  | 3389291647 |
|  **Other Assets Less Liabilities (6.5%)** | **Other Assets Less Liabilities (6.5%)** | 236691420 |
|  **Net Assets (100%)** | **Net Assets (100%)** | $3625983067 |

---

*\** *Non-income producing.* 

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

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

*#* *All, or a portion of security held by broker as collateral for financial futures contracts, with a total collateral value of $53,989,554.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $34,786,337. This was collateralized by $18,573,355 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.250%, maturing 9/30/25 – 5/15/55 and by cash of $16,920,451 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*CVR — Contingent Value Right* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

658

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases<br>at**<br>**Cost ($)** | **Proceeds<br>from Sales**<br>**($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market**<br>**Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  iShares Morningstar Value ETF | 691510 | 71684306 | 2548847 | (19272708) | 6284080 | 1005205 | 62249730 | 952153 |  |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  S&P 500 E-Mini Index | 422 | 12/2025 | USD | 142187625 | 1901535 |
|  S&P Midcap 400 E-Mini Index | 510 | 12/2025 | USD | 167596200 | (3097776) |
|  |  |  |  |  | (1196241) |

---

See Notes to Portfolio of Investments.

659

------

**EQ ADVISORS TRUST** 

EQ/LARGE CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $213526414 | $— | $— | $213526414 |
|  Consumer Discretionary | 216696196 |  |  | 216696196 |
|  Consumer Staples | 192385290 | 5617262 |  | 198002552 |
|  Energy | 153185439 |  |  | 153185439 |
|  Financials | 668830952 | 299801 |  | 669130753 |
|  Health Care | 345764697 |  |  | 345764697 |
|  Industrials | 377086619 |  |  | 377086619 |
|  Information Technology | 418631310 |  |  | 418631310 |
|  Materials | 135511451 |  |  | 135511451 |
|  Real Estate | 97596561 |  |  | 97596561 |
|  Utilities | 153344631 |  |  | 153344631 |
|  **Exchange Traded Funds** | 328754169 |  |  | 328754169 |
|  **Futures** | 1901535 |  |  | 1901535 |
|  **Rights** |  |  |  |  |
|  Health Care |  |  | 1673 | 1673 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 82059182 |  |  | 82059182 |
|  **Total Assets** | $**3385274446** | $**5917063** | $**1673** | $**3391193182** |
|  **Liabilities:** |  |  |  |  |
|  **Futures** | $(3097776) | $— | $— | $(3097776) |
|  **Total Liabilities** | $**(3097776)** | $**—** | $**—** | $**(3097776)** |
|  **Total** | $**3382176670** | $**5917063** | $**1673** | $**3388095406** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $1432575676 |
|  Aggregate gross unrealized depreciation | (113482054) |
|  Net unrealized appreciation | $1319093622 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $2069001784 |

---

See Notes to Portfolio of Investments.

660

------

**EQ ADVISORS TRUST** 

EQ/LAZARD EMERGING MARKETS EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Brazil (12.3%)** |  |  |
|  Arcos Dorados Holdings, Inc., Class A | 422353 | $2850883 |
|  Banco do Brasil SA | 2067500 | 8546198 |
|  BB Seguridade Participacoes SA | 1385800 | 8654985 |
|  Engie Brasil Energia SA | 511500 | 3910552 |
|  Motiva Infraestrutura de Mobilidade SA | 1838210 | 5132378 |
|  Petroleo Brasileiro SA - Petrobras (ADR) | 462968 | 5861175 |
|  PRIO SA\* | 622600 | 4455791 |
|  Rede D'Or Sao Luiz SA(m) | 743800 | 5894778 |
|  Suzano SA\* | 403700 | 3782708 |
|  Vale SA (ADR), Class B | 579127 | 6289319 |
|  Vibra Energia SA | 1649800 | 7637949 |
|  |  | 63016716 |
|  **China (21.5%)** |  |  |
|  Alibaba Group Holding Ltd. | 391800 | 8911468 |
|  Anhui Conch Cement Co. Ltd., Class H | 1823874 | 5507751 |
|  China Construction Bank Corp., Class H | 12912574 | 12411549 |
|  China Medical System Holdings Ltd. | 2970000 | 5339317 |
|  China Merchants Bank Co. Ltd., Class H | 1276281 | 7668888 |
|  DaShenLin Pharmaceutical Group Co. Ltd., Class A | 1800000 | 4169728 |
|  ENN Natural Gas Co. Ltd., Class A | 1945710 | 4914534 |
|  Hengan International Group Co. Ltd. | 1241973 | 4053754 |
|  Huayu Automotive Systems Co. Ltd., Class A | 1490696 | 4292967 |
|  Lenovo Group Ltd. | 4362000 | 6474097 |
|  Midea Group Co. Ltd., Class A | 537500 | 5486412 |
|  NetEase, Inc. | 196300 | 5973289 |
|  Ping An Insurance Group Co. of China Ltd., Class H | 1059500 | 7222672 |
|  Sinopharm Group Co. Ltd., Class H | 2929031 | 6902952 |
|  Tencent Holdings Ltd. | 67200 | 5725249 |
|  Tingyi Cayman Islands Holding Corp. | 3824000 | 5120321 |
|  Want Want China Holdings Ltd. | 6655000 | 4523924 |
|  Weichai Power Co. Ltd., Class H | 3289906 | 5897518 |
|  |  | 110596390 |
|  **Egypt (0.9%)** |  |  |
|  Commercial International Bank - Egypt (CIB) (Registered) (GDR)(m) | 2232466 | 4509581 |
|  **Greece (2.3%)** |  |  |
|  National Bank of Greece SA | 527696 | 7660630 |
|  OPAP SA | 184107 | 4294917 |
|  |  | 11955547 |
|  **Hong Kong (0.9%)** |  |  |
|  ASMPT Ltd. | 443612 | 4677281 |
|  **Hungary (2.7%)** |  |  |
|  MOL Hungarian Oil & Gas plc | 588996 | 4783836 |
|  OTP Bank Nyrt. | 104054 | 8986928 |
|  |  | 13770764 |
|  **India (6.0%)** |  |  |
|  Axis Bank Ltd. | 298373 | 3802722 |
|  Indus Towers Ltd.\* | 2116883 | 8175351 |
|  Infosys Ltd. (ADR)(x) | 459846 | 7481694 |
|  Tata Consultancy Services Ltd. | 183950 | 5984105 |
|  UPL Ltd. | 758097 | 5599358 |
|  |  | 31043230 |
|  **Indonesia (4.2%)** |  |  |
|  Astra International Tbk. PT | 15153696 | 5251281 |
|  Bank Mandiri Persero Tbk. PT | 17891156 | 4723737 |
|  Telkom Indonesia Persero Tbk. PT (ADR)(x)\* | 410984 | 7734719 |
|  United Tractors Tbk. PT | 2302000 | 3698533 |
|  |  | 21408270 |
|  **Mexico (7.9%)** |  |  |
|  America Movil SAB de CV (ADR)(x) | 353956 | 7433076 |
|  Cemex SAB de CV (ADR) | 418764 | 3764688 |
|  Grupo Aeroportuario del Pacifico SAB de CV (ADR) | 28367 | 6728369 |
|  Grupo Financiero Banorte SAB de CV, Class O | 919447 | 9234384 |
|  Grupo Mexico SAB de CV | 564779 | 4914581 |
|  Kimberly-Clark de Mexico SAB de CV, Class A | 2279273 | 4799124 |
|  Ternium SA (ADR) | 111949 | 3887989 |
|  |  | 40762211 |
|  **Peru (0.9%)** |  |  |
|  Credicorp Ltd. | 17264 | 4597058 |
|  **Philippines (0.9%)** |  |  |
|  International Container Terminal Services, Inc. | 552710 | 4478660 |
|  **Poland (0.1%)** |  |  |
|  InPost SA\* | 28762 | 352876 |
|  **Russia (0.0%)** |  |  |
|  Mobile TeleSystems PJSC (ADR)(r)\* | 580455 |  |
|  Sberbank of Russia PJSC(r)\* | 1680737 |  |
|  **South Africa (6.8%)** |  |  |
|  Bidvest Group Ltd. | 376654 | 4619737 |
|  Kumba Iron Ore Ltd. | 80408 | 1512480 |
|  Life Healthcare Group Holdings Ltd. | 4968419 | 3334336 |
|  Nedbank Group Ltd. | 484084 | 5984478 |
|  Sanlam Ltd. | 1234595 | 5975669 |
|  Standard Bank Group Ltd. | 513197 | 7024588 |
|  Vodacom Group Ltd. | 847659 | 6542239 |
|  |  | 34993527 |
|  **South Korea (11.0%)** |  |  |
|  Coway Co. Ltd. | 73919 | 5189424 |
|  Hyundai Mobis Co. Ltd. | 20948 | 4456704 |
|  KB Financial Group, Inc. | 109176 | 8987440 |
|  Kia Corp. | 82068 | 5890202 |
|  KT Corp. | 132222 | 4759068 |
|  KT&G Corp. | 40428 | 3849600 |
|  Shinhan Financial Group Co. Ltd. | 186303 | 9401128 |
|  SK Hynix, Inc. | 57554 | 14254670 |
|  |  | 56788236 |
|  **Taiwan (14.4%)** |  |  |
|  ASE Technology Holding Co. Ltd. | 1758000 | 9459676 |
|  Globalwafers Co. Ltd. | 400000 | 6122449 |
|  MediaTek, Inc. | 192000 | 8284008 |
|  Novatek Microelectronics Corp. | 341000 | 4771852 |
|  Quanta Computer, Inc. | 852000 | 8106831 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. | 531429 | 22754605 |
|  Wiwynn Corp. | 75000 | 8157523 |
|  Yageo Corp. | 1172304 | 6538870 |
|  |  | 74195814 |
|  **Thailand (1.5%)** |  |  |
|  Kasikornbank PCL | 884767 | 4559669 |
|  PTT Exploration & Production PCL | 871600 | 3093165 |
|  |  | 7652834 |

---

See Notes to Portfolio of Investments.

661

------

**EQ ADVISORS TRUST** 

EQ/LAZARD EMERGING MARKETS EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  **Turkiye (1.0%)** |  |  |
|  BIM Birlesik Magazalar A/S | 401328 | $5222049 |
|  **United Kingdom (0.9%)** |  |  |
|  Unilever plc | 82434 | 4893280 |
|  **United States (1.2%)** |  |  |
|  Schlumberger NV | 179347 | 6164156 |
|  **Total Common Stocks (97.4%)**<br> *(Cost $414,115,004)* |  | 501078480 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (2.8%)** |  |  |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 5000000 | 5000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 3674458 | 3674458 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 2258543 | 2259446 |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 3501200 | 3501200 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 14435104 |
|  **Total Short-Term Investments (2.8%)**<br> *(Cost $14,434,639)* |  | 14435104 |
|  **Total Investments in Securities (100.2%)**<br> *(Cost $428,549,643)* |  | 515513584 |
|  **Other Assets Less Liabilities (-0.2%)** |  | (1264400) |
|  **Net Assets (100%)** |  | $514249184 |

---

*\** *Non-income producing.* 

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $10,404,359 or 2.0% of net assets.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $18,551,337. This was collateralized by $6,871,259 of various U.S. Government Treasury Securities, ranging from 0.000% – 5.375%, maturing 10/23/25 –2/15/55 and by cash of $12,175,658 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*GDR — Global Depositary Receipt* 

See Notes to Portfolio of Investments.

662

------

**EQ ADVISORS TRUST** 

EQ/LAZARD EMERGING MARKETS EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Sector Weightings**<br> **as of September 30, 2025** | **Market**<br>**Value** | **% of<br>Net Assets** |
|  Financials | $129952304 | 25.3% |
|  Information Technology | 113067661 | 22.0 |
|  Consumer Discretionary | 49010926 | 9.5 |
|  Communication Services | 46342991 | 9.0 |
|  Consumer Staples | 36631780 | 7.1 |
|  Materials | 35258874 | 6.9 |
|  Industrials | 32460819 | 6.3 |
|  Energy | 28056656 | 5.4 |
|  Health Care | 21471383 | 4.2 |
|  Investment Companies | 14435104 | 2.8 |
|  Utilities | 8825086 | 1.7 |
|  Cash and Other | (1264400) | (0.2) |
|  |  | 100.0% |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Brazil | $63016716 | $— | $— | $63016716 |
|  China |  | 110596390 |  | 110596390 |
|  Egypt |  | 4509581 |  | 4509581 |
|  Greece |  | 11955547 |  | 11955547 |
|  Hong Kong |  | 4677281 |  | 4677281 |
|  Hungary |  | 13770764 |  | 13770764 |
|  India | 7481694 | 23561536 |  | 31043230 |
|  Indonesia | 7734719 | 13673551 |  | 21408270 |
|  Mexico | 40762211 |  |  | 40762211 |
|  Peru | 4597058 |  |  | 4597058 |
|  Philippines |  | 4478660 |  | 4478660 |
|  Poland |  | 352876 |  | 352876 |
|  Russia |  |  | — (a) | — (a) |
|  South Africa |  | 34993527 |  | 34993527 |
|  South Korea |  | 56788236 |  | 56788236 |
|  Taiwan |  | 74195814 |  | 74195814 |
|  Thailand |  | 7652834 |  | 7652834 |
|  Turkiye |  | 5222049 |  | 5222049 |
|  United Kingdom |  | 4893280 |  | 4893280 |
|  United States | 6164156 |  |  | 6164156 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 14435104 |  |  | 14435104 |
|  **Total Assets** | $**144191658** | $**371321926** | $**—** | $**515513584** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**144191658** | $**371321926** | $**—** | $**515513584** |

---

*(a)* *Value is zero.* 

See Notes to Portfolio of Investments.

663

------

**EQ ADVISORS TRUST** 

EQ/LAZARD EMERGING MARKETS EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $119233441 |
|  Aggregate gross unrealized depreciation | (34481435) |
|  Net unrealized appreciation | $84752006 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $430761578 |

---

See Notes to Portfolio of Investments.

664

------

**EQ ADVISORS TRUST** 

EQ/LONG-TERM BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Corporate Bonds (43.0%)** |  |  |
|  **Communication Services (6.1%)** |  |  |
|  ***Diversified Telecommunication Services (2.3%)*** |  |  |
|  AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/1/41 | $15543000 | $12378772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 12/15/42 | 12555000 | 10822622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/15/46 | 6940000 | 6157408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 3/9/49 | 7826000 | 6596578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 9/15/55 | 7260000 | 4997594 |
|  Telefonica Emisiones SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.213%, 3/8/47 | 4800000 | 4296962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.895%, 3/6/48 | 640000 | 548611 |
|  Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 3/22/41 | 8272000 | 6506103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 9/3/41 | 6480000 | 4698857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.862%, 8/21/46 | 4360000 | 3967832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 3/22/61 | 155000 | 108878 |
|  |  | 61080217 |
|  ***Entertainment (0.0%)†*** |  |  |
|  NBCUniversal Media LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 4/30/40 | 242000 | 266555 |
|  ***Interactive Media & Services (0.2%)*** |  |  |
|  Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/15/60 | 6970000 | 3738771 |
|  ***Media (2.7%)*** |  |  |
|  Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.484%, 10/23/45 | 3019000 | 2985459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 5/1/47 | 2529000 | 2185132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 4/1/48 | 7520000 | 6808307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 6/1/52 | 2045000 | 1379802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.834%, 10/23/55 | 5753000 | 5876114 |
|  Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/1/39 | 6253000 | 4983405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/1/40 | 210000 | 176292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.969%, 11/1/47 | 2640000 | 2057406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.049%, 11/1/52 | 225000 | 171957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 6/1/54(x) | 4600000 | 4489911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.937%, 11/1/56 | 8190000 | 4845134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.987%, 11/1/63 | 289000 | 164369 |
|  Grupo Televisa SAB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 1/15/40 | 2970000 | 2732816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/13/45(x) | 400000 | 279500 |
|  Interpublic Group of Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 10/1/48 | 8400000 | 7790446 |
|  Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 10/15/40 | 1328000 | 1215688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 7/1/42 | 710000 | 579199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/15/43 | 678000 | 521023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 9/1/43 | 7960000 | 7263556 |
|  Time Warner Cable LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/15/40 | 4068000 | 3892628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/1/41 | 8290000 | 7601018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/15/42 | 4211000 | 3379075 |
|  |  | 71378237 |
|  ***Wireless Telecommunication Services (0.9%)*** |  |  |
|  Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 10/1/43 | 7294000 | 7038732 |
|  T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/15/50 | 8235000 | 6907106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1/15/55 | 5730000 | 5520180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 11/15/60 | 7100000 | 4804799 |
|  |  | 24270817 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 160734597 |
|  **Consumer Discretionary (2.3%)** |  |  |
|  ***Automobile Components (0.2%)*** |  |  |
|  Aptiv Swiss Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 3/15/49 | 428000 | 388791 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 9/13/54(x) | 4400000 | 4184836 |
|  |  | 4573627 |
|  ***Automobiles (0.4%)*** |  |  |
|  General Motors Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 4/1/45 | 5143000 | 4605814 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 4/1/49 | 6660000 | 6469830 |
|  |  | 11075644 |
|  ***Broadline Retail (1.0%)*** |  |  |
|  Alibaba Group Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 2/9/41 | 8800000 | 6566560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 2/9/51 | 200000 | 140138 |
|  Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/12/41 | 540000 | 414438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 12/5/44 | 2136000 | 2105934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 8/22/47 | 5610000 | 4728718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 5/12/61 | 41000 | 27342 |
|  eBay, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/15/42 | 4984000 | 4156150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 5/10/51 | 6826000 | 5072592 |
|  JD.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 1/14/50 | 2400000 | 1966608 |
|  |  | 25178480 |
|  ***Hotels, Restaurants & Leisure (0.1%)*** |  |  |
|  McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 3/1/47 | 2590000 | 2234035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/1/49 | 67000 | 50273 |
|  Starbucks Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/48 | 251000 | 212980 |
|  |  | 2497288 |
|  ***Household Durables (0.1%)*** |  |  |
|  M.D.C. Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1/15/43 | 2605000 | 2464460 |
|  ***Leisure Products (0.1%)*** |  |  |
|  Hasbro, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 5/15/44 | 3780000 | 3345165 |
|  ***Specialty Retail (0.4%)*** |  |  |
|  Dick's Sporting Goods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 1/15/52 | 1100000 | 819155 |
|  Home Depot, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 4/1/41 | 79000 | 84905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 4/1/46 | 1522000 | 1309037 |
|  Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 5/3/47 | 124000 | 99114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/15/50 | 394000 | 253361 |
|  TJX Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/15/50 | 8008000 | 7042083 |
|  |  | 9607655 |
|  ***Textiles, Apparel & Luxury Goods (0.0%)†*** |  |  |
|  NIKE, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/1/45 | 1462000 | 1185251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 3/27/50(x) | 150000 | 108324 |
|  |  | 1293575 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 60035894 |

---

See Notes to Portfolio of Investments.

665

------

**EQ ADVISORS TRUST** 

EQ/LONG-TERM BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  **Consumer Staples (3.3%)** |  |  |
|  ***Beverages (0.7%)*** |  |  |
|  Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 11/15/39 | $132000 | $168855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 1/23/49 | 5560000 | 5619880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 1/23/59 | 819000 | 848486 |
|  Coca-Cola Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/5/41 | 755000 | 579548 |
|  Diageo Capital plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 4/29/43 | 922000 | 763186 |
|  Molson Coors Beverage Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/1/42 | 10206000 | 9513030 |
|  PepsiCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 10/6/46 | 719000 | 548978 |
|  |  | 18041963 |
|  ***Consumer Staples Distribution & Retail (0.4%)*** |  |  |
|  Kroger Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 8/1/43 | 141000 | 132721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 2/1/47 | 3500000 | 2973220 |
|  Sysco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.600%, 4/1/50 | 2690000 | 2981144 |
|  Target Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 4/15/46 | 1628000 | 1254238 |
|  Walmart, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 6/29/48 | 3609000 | 3025146 |
|  |  | 10366469 |
|  ***Food Products (0.8%)*** |  |  |
|  Archer-Daniels-Midland Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 3/15/49 | 1957000 | 1704985 |
|  Conagra Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 11/1/48 | 10853000 | 9924341 |
|  General Mills, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 6/15/40 | 147000 | 146162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 4/17/48 | 390000 | 343314 |
|  JBS USA Holding Lux Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 2/2/52(x) | 961000 | 754248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/1/52 | 2330000 | 2451126 |
|  Mead Johnson Nutrition Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 6/1/44 | 755000 | 679126 |
|  Tyson Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 6/2/47 | 3434000 | 2928789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 9/28/48 | 3472000 | 3192317 |
|  |  | 22124408 |
|  ***Household Products (0.1%)*** |  |  |
|  Colgate-Palmolive Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 8/1/47 | 5314000 | 4247933 |
|  ***Personal Care Products (0.2%)*** |  |  |
|  Kenvue, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 3/22/43 | 5370000 | 5190044 |
|  ***Tobacco (1.1%)*** |  |  |
|  Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 9/16/46 | 849000 | 649230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 2/14/49 | 3077000 | 3137943 |
|  BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.079%, 8/2/43 | 7240000 | 8170682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.540%, 8/15/47 | 3549000 | 2957072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.758%, 9/6/49 | 6550000 | 5566025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.081%, 8/2/53 | 5472000 | 6251651 |
|  Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 5/16/38 | 59000 | 66230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/10/44 | 623000 | 535224 |
|  Reynolds American, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 8/15/45 | 1350000 | 1328840 |
|  |  | 28662897 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 88633714 |
|  **Energy (3.6%)** |  |  |
|  ***Energy Equipment & Services (0.1%)*** |  |  |
|  Baker Hughes Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.080%, 12/15/47 | 740000 | 594791 |
|  Halliburton Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/15/45 | 540000 | 490304 |
|  NOV, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 12/1/42 | 767000 | 596070 |
|  |  | 1681165 |
|  ***Oil, Gas & Consumable Fuels (3.5%)*** |  |  |
|  BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.060%, 6/17/41 | 1600000 | 1210296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.939%, 6/4/51 | 8235000 | 5296560 |
|  Cenovus Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 6/15/47 | 284000 | 261989 |
|  Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 7/15/41(x) | 9174000 | 8806479 |
|  Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 3/24/51 | 2455000 | 1980391 |
|  Enbridge Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 10/15/45 | 4590000 | 5365954 |
|  Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 6/10/44 | 185000 | 158423 |
|  Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 6/1/41 | 2270000 | 2309070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 2/1/42 | 7690000 | 8123152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/15/44(e) | 69000 | 61072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 12/15/45 | 4377000 | 4391459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 4/15/47 | 538000 | 484093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 10/1/47 | 982000 | 894384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/15/48 | 180000 | 176592 |
|  Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 2/16/55 | 5650000 | 5572681 |
|  EOG Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 4/15/50 | 2348000 | 2136377 |
|  Exxon Mobil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.227%, 3/19/40 | 2176000 | 1986166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.327%, 3/19/50 | 6275000 | 5365066 |
|  Hess Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 4/1/47 | 1250000 | 1295571 |
|  Kinder Morgan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 8/1/50 | 957000 | 633959 |
|  Marathon Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 3/1/41 | 4468000 | 4802172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 9/15/44 | 1055000 | 909781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/15/54 | 2494000 | 2116582 |
|  MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/1/47 | 2449000 | 2194039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/15/49 | 880000 | 820459 |
|  ONEOK Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 2/1/41 | 86000 | 87844 |
|  ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.150%, 1/15/51 | 2557000 | 2851039 |
|  Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.100%, 7/15/53 | 4690000 | 5076679 |
|  Phillips 66 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 5/1/42 | 1742000 | 1779021 |

---

See Notes to Portfolio of Investments.

666

------

**EQ ADVISORS TRUST** 

EQ/LONG-TERM BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Plains All American Pipeline LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 2/15/45 | $8238000 | $7160815 |
|  Shell Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/10/46 | 820000 | 670745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 4/6/50 | 5890000 | 4147440 |
|  TotalEnergies Capital International SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.127%, 5/29/50 | 2850000 | 1933428 |
|  Valero Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 6/15/37 | 104000 | 114975 |
|  Williams Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 9/15/45 | 1435000 | 1320168 |
|  |  | 92494921 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 94176086 |
|  **Financials (6.0%)** |  |  |
|  ***Banks (1.4%)*** |  |  |
|  Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 2.08%), 4.244%, 4/24/38(k) | 85000 | 79222 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.58%), 3.311%, 4/22/42(k) | 8700000 | 6905896 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.78%), 4.330%, 3/15/50(k) | 152000 | 128859 |
|  Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 1/30/42 | 980000 | 1034929 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 2.10%), 4.281%, 4/24/48(k) | 2778000 | 2354855 |
|  Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 5/24/41 | 396000 | 398186 |
|  JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.62%), 3.882%, 7/24/38(k) | 159000 | 143356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 1/6/42 | 163000 | 165728 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.46%), 3.157%, 4/22/42(k) | 8690000 | 6784194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 8/16/43 | 7704000 | 7922945 |
|  Kreditanstalt fuer Wiederaufbau |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 4/18/36 | 48000 | 30658 |
| &nbsp;&nbsp;&nbsp;&nbsp; (Zero Coupon), 6/29/37 | 135000 | 81759 |
|  Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.296%, 1/12/41(x) | 1600000 | 1120271 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.930%, 9/17/41 | 212000 | 156361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.184%, 7/13/43 | 7050000 | 7688746 |
|  Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.606%, 1/15/44 | 151000 | 150782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 5/1/45 | 408000 | 334684 |
|  Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.133%, 11/18/41 | 1540000 | 1162309 |
|  |  | 36643740 |
|  ***Capital Markets (1.8%)*** |  |  |
|  Brookfield Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/30/51 | 1221000 | 861783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.968%, 3/4/54 | 20000 | 20567 |
|  Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.51%), 3.210%, 4/22/42(k) | 8542000 | 6570699 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.47%), 2.908%, 7/21/42(k) | 8660000 | 6366169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 7/8/44 | 6797000 | 6272267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 10/21/45 | 1250000 | 1136850 |
|  Intercontinental Exchange, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 9/21/48 | 6272000 | 5281585 |
|  Moody's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 7/15/44 | 55000 | 53907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 12/17/48 | 6262000 | 5709828 |
|  Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.49%), 3.217%, 4/22/42(k) | 8730000 | 6832182 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 4.84%), 5.597%, 3/24/51(k) | 3845000 | 3914567 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.43%), 2.802%, 1/25/52(k) | 111000 | 71086 |
|  Raymond James Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/1/51 | 3680000 | 2748621 |
|  UBS AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 6/26/48 | 3200000 | 2839798 |
|  |  | 48679909 |
|  ***Consumer Finance (0.1%)*** |  |  |
|  AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 10/29/41 | 3271000 | 2689113 |
|  ***Financial Services (0.4%)*** |  |  |
|  Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 8/15/49 | 290000 | 220499 |
|  Mastercard, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 2/26/48 | 493000 | 404076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 6/1/49 | 64000 | 49404 |
|  National Rural Utilities Cooperative Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 3/15/49 | 5268000 | 4457628 |
|  PayPal Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/1/54 | 4060000 | 4052683 |
|  Woodside Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 9/12/54 | 1370000 | 1306241 |
|  |  | 10490531 |
|  ***Insurance (2.3%)*** |  |  |
|  Alleghany Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 8/15/51 | 850000 | 587484 |
|  Allstate Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 12/15/46 | 1154000 | 963032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 8/10/49 | 2664000 | 2068302 |
|  American International Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 4/1/48 | 6870000 | 6189059 |
|  Aon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 8/23/51 | 5200000 | 3281225 |
|  Aon Global Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/15/45 | 846000 | 760517 |
|  Aon North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/1/54 | 5850000 | 5880510 |
|  Arthur J Gallagher & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 2/15/54 | 3250000 | 3648499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 2/15/55 | 5220000 | 5091356 |
|  Berkshire Hathaway Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 8/15/48 | 6950000 | 5926909 |
|  Chubb INA Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 11/3/45 | 6282000 | 5529699 |

---

See Notes to Portfolio of Investments.

667

------

**EQ ADVISORS TRUST** 

EQ/LONG-TERM BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Principal<br>Amount** | **Principal<br>Amount** | **Value**<br>**(Note 1)** | **Value**<br>**(Note 1)** |  |
|  Hartford Insurance Group, Inc. (The) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 3/15/48 | $| 7230000 | $| 6265969 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 9/15/51 |  | 166000 |  | 107995 |  |
|  Marsh & McLennan Cos., Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 3/15/49 |  | 23000 |  | 21061 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 9/15/53 |  | 780000 |  | 798075 |  |
|  MetLife, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 12/15/36 |  | 170000 |  | 178500 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 11/13/43 |  | 686000 |  | 644289 |  |
|  Progressive Corp. (The) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 4/15/47 |  | 832000 |  | 698103 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 3/26/50 |  | 691000 |  | 558286 |  |
|  Prudential Financial, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.935%, 12/7/49 |  | 7385000 |  | 5805587 |  |
|  Travelers Cos., Inc. (The) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 5/15/46 |  | 871000 |  | 693977 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/30/47 |  | 174000 |  | 142811 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 4/27/50 |  | 172000 |  | 105360 |  |
|  Willis North America, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 3/5/54 |  | 5450000 |  | 5530714 |  |
|  |  |  |  | 61477319 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  |  |  | 159980612 |  |
|  **Health Care (6.5%)** |  |  |  |  |  |
|  ***Biotechnology (1.5%)*** |  |  |  |  |  |
|  AbbVie, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 11/6/42 |  | 31000 |  | 27903 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 5/14/46 |  | 297000 |  | 261309 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 11/14/48 |  | 5889000 |  | 5470724 |  |
|  Amgen, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 8/15/41 |  | 8878000 |  | 6511606 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 11/15/41 |  | 8059000 |  | 7822319 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 3/2/43 |  | 7510000 |  | 7571018 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.563%, 6/15/48 |  | 1009000 |  | 869008 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 3/2/53 |  | 680000 |  | 678167 |  |
|  Baxalta, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/23/45 |  | 2075000 |  | 1987554 |  |
|  Biogen, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 5/1/50 |  | 1279000 |  | 827761 |  |
|  Gilead Sciences, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 12/1/41 |  | 6850000 |  | 7135882 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 3/1/46 |  | 1570000 |  | 1441894 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 3/1/47 |  | 804000 |  | 677762 |  |
|  |  |  |  | 41282907 |  |
|  ***Health Care Equipment & Supplies (0.8%)*** | ***Health Care Equipment & Supplies (0.8%)*** | ***Health Care Equipment & Supplies (0.8%)*** | ***Health Care Equipment & Supplies (0.8%)*** | ***Health Care Equipment & Supplies (0.8%)*** | **** |
|  Abbott Laboratories |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 4/15/43 |  | 5630000 |  | 5381240 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 11/30/46 |  | 6620000 |  | 6352764 |  |
|  Baxter International, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.132%, 12/1/51 |  | 1402000 |  | 888102 |  |
|  Becton Dickinson & Co. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.669%, 6/6/47 |  | 145000 |  | 127583 |  |
|  Boston Scientific Corp. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 3/1/49 |  | 4319000 |  | 3945408 |  |
|  DH Europe Finance II Sarl |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 11/15/49 |  | 400000 |  | 293154 |  |
|  Koninklijke Philips NV |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/15/42 |  | 3237000 |  | 3028203 |  |
|  Stryker Corp. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/15/44 |  | 157000 |  | 136818 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 3/15/46 |  | 144000 |  | 130415 |  |
|  |  |  |  | 20283687 |  |
|  ***Health Care Providers & Services (3.0%)*** | ***Health Care Providers & Services (3.0%)*** | ***Health Care Providers & Services (3.0%)*** | ***Health Care Providers & Services (3.0%)*** | ***Health Care Providers & Services (3.0%)*** | **** |
|  Banner Health |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.907%, 1/1/42 |  | 5162000 |  | 3838812 |  |
|  Baylor Scott & White Holdings |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.839%, 11/15/50 |  | 1487000 |  | 955777 |  |
|  Cardinal Health, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.368%, 6/15/47 |  | 1086000 |  | 902926 |  |
|  Cencora, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 12/15/47 |  | 1551000 |  | 1285267 |  |
|  Children's Health System of Texas |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.511%, 8/15/50 |  | 590000 |  | 351269 |  |
|  Cigna Group (The) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 3/15/40 |  | 7987000 |  | 6221432 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 11/15/41 |  | 261000 |  | 275547 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 7/15/46 |  | 1279000 |  | 1139012 |  |
|  CommonSpirit Health |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.910%, 10/1/50 |  | 1192000 |  | 896329 |  |
|  CVS Health Corp. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 8/21/40 |  | 219000 |  | 155132 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/1/44 |  | 3860000 |  | 3908756 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 7/20/45 |  | 2245000 |  | 2037334 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 3/25/48 |  | 10191000 |  | 9046936 |  |
|  Elevance Health, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 1/15/43 |  | 1627000 |  | 1454597 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/1/47 |  | 920000 |  | 762725 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 3/1/48 |  | 6930000 |  | 5885402 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 5/15/50 |  | 3631000 |  | 2397304 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 3/15/51 |  | 1927000 |  | 1378244 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 6/15/54 |  | 720000 |  | 706693 |  |
|  HCA, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/15/47 |  | 6086000 |  | 5796605 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/15/49 |  | 3520000 |  | 3203727 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 7/15/51 |  | 419000 |  | 286749 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 6/1/53 |  | 4960000 |  | 4885061 |  |
|  Humana, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 10/1/44 |  | 909000 |  | 806847 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 4/15/54 |  | 1320000 |  | 1260971 |  |
|  Kaiser Foundation Hospitals |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.002%, 6/1/51 |  | 4580000 |  | 3024894 |  |
|  Laboratory Corp. of America Holdings |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 2/1/45 |  | 1058000 |  | 942325 |  |
|  Memorial Sloan-Kettering Cancer Center |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.955%, 1/1/50 |  | 656000 |  | 435045 |  |
|  Providence St Joseph Health Obligated Group |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 21A |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 10/1/51 |  | 4788000 |  | 2865225 |  |
|  Rady Children's Hospital- San Diego |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 21A |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.154%, 8/15/51 |  | 964000 |  | 652575 |  |
|  Sutter Health |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 20A |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.161%, 8/15/40 |  | 679000 |  | 533442 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.361%, 8/15/50 |  | 2003000 |  | 1419156 |  |
|  UnitedHealth Group, Inc. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 7/15/44 |  | 7030000 |  | 7008973 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 4/15/47 |  | 96000 |  | 79636 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 8/15/49 |  | 4300000 |  | 3207276 |  |

---

See Notes to Portfolio of Investments.

668

------

**EQ ADVISORS TRUST** 

EQ/LONG-TERM BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Yale-New Haven Health Services Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.496%, 7/1/50 | $1023000 | $605055 |
|  |  | 80613056 |
|  ***Life Sciences Tools & Services (0.1%)*** |  |  |
|  Thermo Fisher Scientific, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 8/15/47 | 2116000 | 1788752 |
|  ***Pharmaceuticals (1.1%)*** |  |  |
|  AstraZeneca plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/18/42 | 9162000 | 7937248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/17/48 | 5814000 | 5102177 |
|  Eli Lilly & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 3/15/59 | 673000 | 541465 |
|  GlaxoSmithKline Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 3/18/43 | 1011000 | 886890 |
|  Johnson & Johnson |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 3/1/46 | 483000 | 395938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 3/3/47 | 1568000 | 1288307 |
|  Merck & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 5/18/43 | 232000 | 201544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/7/49 | 4607000 | 3727765 |
|  Mylan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 4/15/48 | 1431000 | 1170968 |
|  Pfizer Investment Enterprises Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.110%, 5/19/43 | 2670000 | 2583379 |
|  Pfizer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 3/15/39 | 33000 | 29101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 6/15/43 | 179000 | 156441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/15/46 | 227000 | 189067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 9/15/48 | 4713000 | 3938392 |
|  Takeda Pharmaceutical Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.175%, 7/9/50 | 400000 | 269963 |
|  |  | 28418645 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 172387047 |
|  **Industrials (3.7%)** |  |  |
|  ***Aerospace & Defense (1.0%)*** |  |  |
|  Boeing Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 11/1/48 | 38000 | 28187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.805%, 5/1/50 | 11061000 | 10998621 |
|  General Dynamics Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 4/1/40 | 552000 | 504537 |
|  L3Harris Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.054%, 4/27/45 | 766000 | 737319 |
|  Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 5/1/40 | 1393000 | 1385033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/1/43 | 402000 | 371812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 5/1/50 | 12515000 | 11962325 |
|  RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 4/15/47 | 298000 | 253878 |
|  |  | 26241712 |
|  ***Air Freight & Logistics (0.4%)*** |  |  |
|  FedEx Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 1/15/47§ | 7305000 | 5959055 |
|  United Parcel Service, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 4/1/50(x) | 2870000 | 2770064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5/22/54 | 1490000 | 1472520 |
|  |  | 10201639 |
|  ***Commercial Services & Supplies (0.4%)*** |  |  |
|  Republic Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 3/1/50 | 1275000 | 882975 |
|  Rockefeller Foundation (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.492%, 10/1/50 | 5726000 | 3517449 |
|  Waste Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/15/50 | 1480000 | 894705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 10/15/54 | 5460000 | 5369524 |
|  |  | 10664653 |
|  ***Electrical Equipment (0.1%)*** |  |  |
|  Eaton Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 11/2/42 | 750000 | 662496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.915%, 9/15/47 | 329000 | 266785 |
|  Rockwell Automation, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 3/1/49 | 2973000 | 2494281 |
|  |  | 3423562 |
|  ***Ground Transportation (1.3%)*** |  |  |
|  Burlington Northern Santa Fe LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 3/15/42 | 92000 | 82917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 4/1/44 | 850000 | 808779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 6/15/47 | 539000 | 452645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/15/55 | 5400000 | 5398270 |
|  Canadian National Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 2/3/48 | 264000 | 204021 |
|  Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 12/2/51 | 830000 | 558645 |
|  CSX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 5/1/37 | 32000 | 35335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 3/15/44 | 32000 | 27094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/15/48 | 4706000 | 4249864 |
|  Norfolk Southern Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.837%, 10/1/41 | 219000 | 207587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.942%, 11/1/47 | 7186000 | 5752587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 8/15/52 | 1015000 | 809384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.155%, 5/15/55 | 4276000 | 2835491 |
|  Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 9/15/54 | 160000 | 154862 |
|  Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 12/1/54 | 5400000 | 5474614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 8/15/59 | 10550000 | 7938382 |
|  |  | 34990477 |
|  ***Industrial Conglomerates (0.2%)*** |  |  |
|  3M Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/14/48 | 31000 | 24857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 8/26/49 | 3076000 | 2139107 |
|  Honeywell International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.812%, 11/21/47 | 3876000 | 3037813 |
|  |  | 5201777 |
|  ***Machinery (0.3%)*** |  |  |
|  Caterpillar, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 5/27/41 | 28000 | 28464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.803%, 8/15/42 | 522000 | 438894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/15/64 | 522000 | 466236 |
|  Cummins, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/1/43 | 3460000 | 3300408 |
|  Deere & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 6/9/42 | 503000 | 433902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 9/7/49 | 804000 | 545323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/15/50 | 665000 | 524999 |

---

See Notes to Portfolio of Investments.

669

------

**EQ ADVISORS TRUST** 

EQ/LONG-TERM BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  Parker-Hannifin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/14/49 | $1385000 | $1119124 |
|  |  | 6857350 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 97581170 |
|  **Information Technology (3.1%)** |  |  |
|  ***Communications Equipment (0.0%)†*** |  |  |
|  Cisco Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1/15/40 | 30000 | 31214 |
|  ***Electronic Equipment, Instruments & Components (0.4%)*** |  |  |
|  Amphenol Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 11/15/54 | 4590000 | 4564841 |
|  Corning, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 3/15/42 | 201000 | 185938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 11/15/48 | 5255000 | 5095395 |
|  |  | 9846174 |
|  ***IT Services (0.1%)*** |  |  |
|  IBM International Capital Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 2/5/54 | 2300000 | 2200610 |
|  International Business Machines Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 2/19/46 | 319000 | 287032 |
|  |  | 2487642 |
|  ***Semiconductors & Semiconductor Equipment (0.8%)*** |  |  |
|  Applied Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 6/15/41 | 1103000 | 1177673 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 4/1/47 | 2900000 | 2529650 |
|  Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/15/41§ | 1116000 | 916224 |
|  Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 3/25/40 | 1715000 | 1558092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 10/1/41 | 87000 | 78435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 2/10/43 | 5260000 | 5200991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 5/19/46 | 1472000 | 1154426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 5/11/47 | 409000 | 318251 |
|  KLA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/15/49 | 4044000 | 3818886 |
|  NXP BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 5/11/41 | 3363000 | 2568189 |
|  QUALCOMM, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 5/20/45 | 1201000 | 1125427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 5/20/47 | 801000 | 685686 |
|  Texas Instruments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 5/15/48 | 406000 | 338988 |
|  TSMC Arizona Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/22/52 | 800000 | 764320 |
|  |  | 22235238 |
|  ***Software (1.4%)*** |  |  |
|  Microsoft Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 8/8/36 | 65000 | 59417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 11/3/45 | 925000 | 868197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 8/8/46 | 997000 | 818002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 8/8/56 | 5800000 | 4667328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/6/57 | 5360000 | 4914041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.675%, 6/1/60 | 8468000 | 5068191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.041%, 3/17/62 | 4340000 | 2815351 |
|  Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 4/15/38 | 346000 | 379330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/8/44 | 1011000 | 861283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 5/15/45 | 870000 | 697469 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/47 | 4340000 | 3348340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.900%, 11/9/52 | 5530000 | 6170148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 2/6/53 | 6410000 | 6055400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/15/55 | 305000 | 238837 |
|  |  | 36961334 |
|  ***Technology Hardware, Storage & Peripherals (0.4%)*** |  |  |
|  Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 2/23/46 | 1540000 | 1432297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 8/4/46 | 4660000 | 3855980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/9/47 | 1000000 | 873030 |
|  Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.350%, 7/15/46 | 250000 | 323816 |
|  Hewlett Packard Enterprise Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 10/15/45(e) | 2080000 | 2178500 |
|  HP, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 9/15/41 | 930000 | 957472 |
|  |  | 9621095 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 81182697 |
|  **Materials (2.3%)** |  |  |
|  ***Chemicals (1.3%)*** |  |  |
|  Air Products and Chemicals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 5/15/40 | 1383000 | 1025353 |
|  Dow Chemical Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/15/42 | 14830000 | 12025318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 11/30/48 | 6791000 | 6177893 |
|  DuPont de Nemours, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.319%, 11/15/38 | 202000 | 207470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.419%, 11/15/48 | 8454000 | 8300992 |
|  Eastman Chemical Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 9/1/42 | 1090000 | 959000 |
|  Ecolab, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/8/41 | 1435000 | 1480808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 12/1/47 | 202000 | 165643 |
|  LYB International Finance III LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 10/15/49 | 1020000 | 752275 |
|  Sherwin-Williams Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 6/1/47 | 185000 | 159110 |
|  Westlake Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 8/15/41 | 5000000 | 3419565 |
|  |  | 34673427 |
|  ***Construction Materials (0.0%)†*** |  |  |
|  Martin Marietta Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 7/15/51 | 51000 | 34922 |
|  ***Containers & Packaging (0.5%)*** |  |  |
|  International Paper Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/15/41 | 4800000 | 4990187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 6/15/44 | 258000 | 229437 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 8/15/47 | 492000 | 408550 |
|  Packaging Corp. of America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 12/15/49 | 898000 | 710452 |
|  Smurfit Kappa Treasury ULC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.777%, 4/3/54 | 5600000 | 5691240 |
|  |  | 12029866 |
|  ***Metals & Mining (0.5%)*** |  |  |
|  ArcelorMittal SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 3/1/41(e) | 1435000 | 1558047 |
|  BHP Billiton Finance USA Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/8/53 | 3350000 | 3391748 |
|  Freeport-McMoRan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 3/15/43(x) | 2100000 | 2014364 |

---

See Notes to Portfolio of Investments.

670

------

**EQ ADVISORS TRUST** 

EQ/LONG-TERM BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  Nucor Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 8/1/43 | $559000 | $547197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 5/1/48 | 3428000 | 2925828 |
|  Rio Tinto Finance USA Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 11/2/51 | 130000 | 80755 |
|  Rio Tinto Finance USA plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 8/21/42 | 1399000 | 1206420 |
|  Vale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 9/11/42 | 2170000 | 2207975 |
|  |  | 13932334 |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Celulosa Arauco y Constitucion SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/2/47 | 600000 | 555360 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 61225909 |
|  **Real Estate (0.7%)** |  |  |
|  ***Diversified REITs (0.3%)*** |  |  |
|  Simon Property Group LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 3/15/42 | 6281000 | 5791062 |
|  VICI Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 5/15/52(x) | 1650000 | 1569802 |
|  |  | 7360864 |
|  ***Health Care REITs (0.2%)*** |  |  |
|  Ventas Realty LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 9/30/43 | 470000 | 467646 |
|  Welltower OP LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 3/15/41 | 3077000 | 3415334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 9/1/48 | 1523000 | 1421125 |
|  |  | 5304105 |
|  ***Industrial REITs (0.1%)*** |  |  |
|  Prologis LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 9/15/48 | 2339000 | 1980650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 10/15/50 | 284000 | 154983 |
|  |  | 2135633 |
|  ***Residential REITs (0.0%)†*** |  |  |
|  AvalonBay Communities, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 7/1/47 | 538000 | 445587 |
|  ERP Operating LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/44 | 205000 | 182178 |
|  |  | 627765 |
|  ***Retail REITs (0.1%)*** |  |  |
|  Kimco Realty OP LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 4/1/45 | 760000 | 644404 |
|  Realty Income Corp. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 3/15/47 | 2329000 | 2074648 |
|  |  | 2719052 |
|  ***Specialized REITs (0.0%)†*** |  |  |
|  American Tower Corp. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 10/15/49 | 384000 | 286515 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 18433934 |
|  **Utilities (5.4%)** |  |  |
|  ***Electric Utilities (3.5%)*** |  |  |
|  Arizona Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 11/15/45 | 1626000 | 1369392 |
|  CenterPoint Energy Houston Electric LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/1/44 | 511000 | 453502 |
|  Commonwealth Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 10/1/42 | 263000 | 216444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/1/48 | 347000 | 278778 |
|  DTE Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 4/1/51 | 3710000 | 2595683 |
|  Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 4/15/38 | 243000 | 262173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/15/41 | 293000 | 257617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 4/15/51 | 5398000 | 3882202 |
|  Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 6/15/41 | 1991000 | 1529752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/15/51 | 467000 | 330115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 9/15/53 | 6050000 | 6338669 |
|  Duke Energy Indiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 7/15/43 | 7460000 | 6967615 |
|  Entergy Arkansas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 6/15/52 | 2477000 | 1706180 |
|  Entergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 6/15/50 | 1800000 | 1322016 |
|  Eversource Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 1/15/50 | 3723000 | 2666356 |
|  Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 3/15/53 | 1810000 | 1764880 |
|  Georgia Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 1/30/50 | 1501000 | 1138733 |
|  Kentucky Utilities Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 11/1/40 | 1082000 | 1058499 |
|  Nevada Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 3/15/54 | 280000 | 288860 |
|  NSTAR Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 3/1/44 | 563000 | 492720 |
|  Oncor Electric Delivery Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 9/30/47 | 804000 | 626854 |
|  Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/40 | 9440000 | 8194798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 6/1/41 | 9666000 | 7884160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 1/15/53 | 5830000 | 6294678 |
|  PacifiCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 2/15/50 | 338000 | 261232 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 1/15/55 | 1920000 | 1870879 |
|  PECO Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 9/15/51 | 757000 | 485913 |
|  Public Service Co. of Colorado |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 8/1/38 | 130000 | 144175 |
|  Public Service Electric & Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 3/1/46 | 1061000 | 848580 |
|  Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/15/40 | 7720000 | 7572066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/1/40 | 1100000 | 968916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 3/15/42 | 5040000 | 4031318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 10/1/43 | 11721000 | 9899325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/1/47 | 1031000 | 775097 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series H |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 6/1/51 | 7241000 | 4967219 |
|  Southwestern Electric Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series J |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 4/1/45 | 50000 | 39017 |

---

See Notes to Portfolio of Investments.

671

------

**EQ ADVISORS TRUST** 

EQ/LONG-TERM BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  Southwestern Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/1/54 | $560000 | $584247 |
|  Virginia Electric and Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 11/30/37 | 1553000 | 1712963 |
|  |  | 92081623 |
|  ***Gas Utilities (0.4%)*** |  |  |
|  Atmos Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 2/15/52 | 2436000 | 1532520 |
|  ONE Gas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.658%, 2/1/44 | 3502000 | 3143356 |
|  Southern California Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 4/1/54 | 6180000 | 6187977 |
|  |  | 10863853 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  Constellation Energy Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/1/41 | 1092000 | 1118508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/1/53 | 1730000 | 1915370 |
|  |  | 3033878 |
|  ***Multi-Utilities (1.3%)*** |  |  |
|  Berkshire Hathaway Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 11/15/43 | 7210000 | 6998786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/1/45 | 1770000 | 1559832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 5/15/51 | 82000 | 51656 |
|  Consolidated Edison Co. of New York, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 3/15/44 | 8335000 | 7323758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 5/15/54 | 2650000 | 2701502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/15/58 | 431000 | 357941 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/1/60 | 6670000 | 4051784 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 12/1/48 | 61000 | 53850 |
|  Consumers Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 5/15/43 | 854000 | 714742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 2/15/50 | 793000 | 605954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 8/15/50 | 215000 | 146578 |
|  Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 3/15/49 | 459000 | 387720 |
|  NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 2/1/45 | 4981000 | 4937218 |
|  Puget Sound Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.685%, 6/15/54 | 4650000 | 4684181 |
|  Sempra |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/1/48 | 912000 | 701686 |
|  Southern Co. Gas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 10/1/46 | 160000 | 126216 |
|  |  | 35403404 |
|  ***Water Utilities (0.1%)*** |  |  |
|  American Water Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 6/1/49 | 2197000 | 1783911 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 143166669 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  | 1137538329 |
|  **Foreign Government Securities (2.4%)** |  |  |
|  Hungary Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 3/29/41 | 68000 | 80614 |
|  Italian Republic Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/17/49 | 437000 | 326842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 5/6/51 | 799000 | 572395 |
|  Republic of Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 5/7/41 | 2309000 | 1764076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.340%, 3/7/42 | 8600000 | 7632500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.330%, 1/5/54(x) | 200000 | 194300 |
|  Republic of Indonesia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 3/12/51 | 500000 | 335250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 9/20/52 | 10640000 | 10469760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 3/12/71 | 485000 | 319251 |
|  Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 3/10/51 | 2614000 | 1867049 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 8/8/54 | 3430000 | 3440290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.780%, 12/1/60 | 635000 | 356870 |
|  Republic of Philippines |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 12/10/45 | 408000 | 274533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 10/13/47 | 3600000 | 3873150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1/17/48 | 3200000 | 3270000 |
|  Republic of Poland |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/4/53 | 3430000 | 3311905 |
|  State of Israel Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/3/50 | 3436000 | 2471343 |
|  United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 1/29/38 | 3800000 | 4005200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.280%, 8/14/41 | 10597000 | 8615361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 1/21/45 | 615000 | 575794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/27/51 | 5064000 | 4163874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 2/12/52 | 400000 | 299800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 5/7/54 | 6400000 | 6252800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.771%, 5/24/61 | 810000 | 512730 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Foreign Government Securities** |  | 64985687 |
|  **Municipal Bonds (1.4%)** |  |  |
|  American Municipal Power, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.084%, 2/15/50 | 2995000 | 3845747 |
|  Charlotte-Mecklenburg Hospital Authority (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.204%, 1/15/51 | 1860000 | 1294777 |
|  Commonwealth of Massachusetts |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 9/1/49 | 1615000 | 1116720 |
|  Dallas Fort Worth TX International Airport Joint Revenue Refunding Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.994%, 11/1/38 | 2000000 | 1729969 |
|  Golden State Tobacco Securitization Corp., ST APPROP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.115%, 6/1/38 | 3040000 | 2549372 |
|  Kansas Development Finance Authority, BAM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.774%, 5/1/51 | 4900000 | 3484456 |
|  Metropolitan Transportation Authority, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2010A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.668%, 11/15/39 | 150000 | 164414 |
|  Michigan Finance Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.384%, 12/1/40 | 1825000 | 1539409 |

---

See Notes to Portfolio of Investments.

672

------

**EQ ADVISORS TRUST** 

EQ/LONG-TERM BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Port Authority of New York & New Jersey |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.229%, 10/15/57 | $1470000 | $1219278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.458%, 10/1/62 | 3900000 | 3328510 |
|  Rutgers The State University of New Jersey |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.915%, 5/1/19 | 15000 | 10231 |
|  State of California |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 3/1/40 | 4735000 | 5742624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.600%, 11/1/40 | 2980000 | 3664919 |
|  State of California, Various Purposes, General Obligation Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.550%, 4/1/39 | 5170000 | 6307994 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Municipal Bonds** |  | 35998420 |
|  **Supranational (0.1%)** |  |  |
|  European Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 2/15/36 | 2846000 | 3002131 |
|  Inter-American Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 8/7/42 | 31000 | 25140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 1/24/44 | 27000 | 25407 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Supranational** |  | 3052678 |
|  **U.S. Government Agency Securities (0.6%)** |  |  |
|  FHLB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 7/15/36 | 4730000 | 5172205 |
|  FNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 7/15/37 | 5251000 | 5818421 |
|  Tennessee Valley Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 1/15/38 | 1439000 | 1665071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 9/15/39 | 172000 | 181956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 9/15/65 | 1226000 | 1012036 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Government Agency Securities** |  | 13849689 |
|  **U.S. Treasury Obligations (49.6%)** |  |  |
|  U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 5/15/40 | 162731500 | 103605076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/15/40 | 46520000 | 45983899 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 8/15/40 | 50013000 | 31506149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 11/15/40 | 81154000 | 52903919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/15/41 | 85817700 | 60267994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/15/41 | 27962200 | 28663252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 5/15/41 | 12778700 | 9463054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/15/41 | 8951800 | 6277510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 8/15/42 | 2957000 | 2517674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 11/15/42 | 6903000 | 5340015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/42 | 11325000 | 10465447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 2/15/43 | 5083000 | 4609910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/15/43 | 23035300 | 20076512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/15/43 | 4442000 | 4283735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/15/45 | 10394000 | 10450828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/15/45 | 37000 | 38399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 11/15/46 | 17242000 | 12891526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 5/15/48 | 17593700 | 13548491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/15/48 | 22563000 | 16942365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 11/15/48 | 307656900 | 246813441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/15/49 | 110098000 | 82339817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/49 | 153800 | 112088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 11/15/49 | 20228200 | 13218142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 5/15/50 | 9139000 | 4476735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 11/15/50 | 2731000 | 1463644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/51 | 13301000 | 8551907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 8/15/51 | 17749000 | 10388715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 11/15/51 | 81000 | 45774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/52 | 27654000 | 19713336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/15/52 | 82095000 | 59981357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/52 | 20221800 | 17874864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 2/15/53 | 139417800 | 115147559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5/15/53 | 52273900 | 43132434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 8/15/53 | 16296000 | 14717076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/15/53 | 13874000 | 13885951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/15/54 | 48375000 | 44619068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 5/15/54 | 77988800 | 76562595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 8/15/54 | 32643000 | 30109838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/54 | 22100000 | 21263575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/15/55 | 28700000 | 28187679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/15/55 | 21027900 | 21075474 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 1313516824 |
|  **Total Long-Term Debt Securities (97.1%)**<br>*(Cost $2,840,074,242)* |  | 2568941627 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.9%)** |  |  |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 2000000 | 2000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 484525 | 484525 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 21846841 | 21855580 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 24340105 |
|  **Total Short-Term Investments (0.9%)**<br>*(Cost $24,338,932)* |  | 24340105 |
|  **Total Investments in Securities (98.0%)**<br>*(Cost $2,864,413,174)* |  | 2593281732 |
|  **Other Assets Less Liabilities (2.0%)** |  | 54161746 |
|  **Net Assets (100%)** |  | $2647443478 |

---

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

---

| | |
|:---|:---|
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At September 30, 2025, the market value of these securities amounted to $6,875,279 or 0.3% of net assets.*  |

---

*(e)* *Step Bond - Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of September 30, 2025. Maturity date disclosed is the ultimate maturity date.* 

*(k)* *Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of September 30, 2025.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $2,722,416. This was collateralized by $317,084 of various U.S. Government Treasury Securities, ranging from 0.000% – 4.875%, maturing 10/23/25 – 2/15/53 and by cash of $2,484,525 which was subsequently invested in investment companies.* 

See Notes to Portfolio of Investments.

673

------

**EQ ADVISORS TRUST** 

EQ/LONG-TERM BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*Glossary:* 

*BAM — Build America Mutual Assurance Co.* 

*CME — Chicago Mercantile Exchange* 

*FHLB — Federal Home Loan Bank* 

*FNMA — Federal National Mortgage Association* 

*REIT — Real Estate Investment Trust* 

*SOFR — Secured Overnight Financing Rate* 

*ST APPROP — State Appropriation* 

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active**<br>**Markets for Identical**<br>**Securities** | **Level 2**<br>**Significant Other**<br>**Observable Inputs**<br>**(including quoted prices**<br>**for similar securities,**<br>**interest rates,**<br>**prepayment speeds,**<br>**credit risk, etc.)** | **Level 3**<br>**Significant Unobservable**<br>**Inputs (including the**<br>**Portfolio's own**<br>**assumptions in**<br>**determining the fair**<br>**value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Corporate Bonds** |  |  |  |  |
|  Communication Services | $— | $160734597 | $— | $160734597 |
|  Consumer Discretionary |  | 60035894 |  | 60035894 |
|  Consumer Staples |  | 88633714 |  | 88633714 |
|  Energy |  | 94176086 |  | 94176086 |
|  Financials |  | 159980612 |  | 159980612 |
|  Health Care |  | 172387047 |  | 172387047 |
|  Industrials |  | 97581170 |  | 97581170 |
|  Information Technology |  | 81182697 |  | 81182697 |
|  Materials |  | 61225909 |  | 61225909 |
|  Real Estate |  | 18433934 |  | 18433934 |
|  Utilities |  | 143166669 |  | 143166669 |
|  **Foreign Government Securities** |  | 64985687 |  | 64985687 |
|  **Municipal Bonds** |  | 35998420 |  | 35998420 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 24340105 |  |  | 24340105 |
|  **Supranational** |  | 3052678 |  | 3052678 |
|  **U.S. Government Agency Securities** |  | 13849689 |  | 13849689 |
|  **U.S. Treasury Obligations** |  | 1313516824 |  | 1313516824 |
|  **Total Assets** | $**24340105** | $**2568941627** | $**—** | $**2593281732** |
|  **Total** | $**24340105** | $**2568941627** | $**—** | $**2593281732** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $17974048 |
|  Aggregate gross unrealized depreciation | (295235690) |
|  Net unrealized depreciation | $(277261642) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $2870543374 |

---

See Notes to Portfolio of Investments.

674

------

**EQ ADVISORS TRUST** 

EQ/LOOMIS SAYLES GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (22.2%)** |  |  |
|  ***Entertainment (9.0%)*** |  |  |
|  Netflix, Inc.\* | 54068 | $64823207 |
|  Walt Disney Co. (The) | 177862 | 20365199 |
|  |  | 85188406 |
|  ***Interactive Media & Services (13.2%)*** |  |  |
|  Alphabet, Inc., Class A | 226053 | 54953484 |
|  Alphabet, Inc., Class C | 4820 | 1173911 |
|  Meta Platforms, Inc., Class A | 94624 | 69489973 |
|  |  | 125617368 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 210805774 |
|  **Consumer Discretionary (16.7%)** |  |  |
|  ***Automobile Components (0.6%)*** |  |  |
|  Mobileye Global, Inc., Class A\* | 402858 | 5688355 |
|  ***Automobiles (7.4%)*** |  |  |
|  Tesla, Inc.\* | 158090 | 70305785 |
|  ***Broadline Retail (6.0%)*** |  |  |
|  Alibaba Group Holding Ltd. (ADR)(x) | 20238 | 3617138 |
|  Amazon.com, Inc.\* | 243673 | 53503280 |
|  |  | 57120418 |
|  ***Hotels, Restaurants & Leisure (2.4%)*** |  |  |
|  Starbucks Corp. | 132800 | 11234880 |
|  Yum China Holdings, Inc.(x) | 128045 | 5495691 |
|  Yum! Brands, Inc. | 44080 | 6700160 |
|  |  | 23430731 |
|  ***Textiles, Apparel & Luxury Goods (0.3%)*** |  |  |
|  Under Armour, Inc., Class A\* | 520739 | 2598488 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 159143777 |
|  **Consumer Staples (3.6%)** |  |  |
|  ***Beverages (3.6%)*** |  |  |
|  Boston Beer Co., Inc. (The), Class A\* | 18008 | 3807252 |
|  Monster Beverage Corp.\* | 452839 | 30480593 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 34287845 |
|  **Financials (7.9%)** |  |  |
|  ***Capital Markets (2.8%)*** |  |  |
|  FactSet Research Systems, Inc. | 20723 | 5936932 |
|  MSCI, Inc. | 17148 | 9729947 |
|  SEI Investments Co. | 129348 | 10975178 |
|  |  | 26642057 |
|  ***Financial Services (5.1%)*** |  |  |
|  Block, Inc., Class A\* | 99718 | 7206620 |
|  PayPal Holdings, Inc.\* | 93131 | 6245365 |
|  Visa, Inc., Class A | 101578 | 34676697 |
|  |  | 48128682 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 74770739 |
|  **Health Care (14.5%)** |  |  |
|  ***Biotechnology (5.9%)*** |  |  |
|  Alnylam Pharmaceuticals, Inc.\* | 74967 | 34184952 |
|  CRISPR Therapeutics AG(x)\* | 84810 | 5496536 |
|  Regeneron Pharmaceuticals, Inc. | 29123 | 16374989 |
|  |  | 56056477 |
|  ***Health Care Equipment & Supplies (0.9%)*** |  |  |
|  Intuitive Surgical, Inc.\* | 19507 | 8724116 |
|  ***Health Care Technology (4.4%)*** |  |  |
|  Doximity, Inc., Class A\* | 316014 | 23116424 |
|  Veeva Systems, Inc., Class A\* | 64487 | 19211322 |
|  |  | 42327746 |
|  ***Life Sciences Tools & Services (0.6%)*** |  |  |
|  Illumina, Inc.\* | 56087 | 5326583 |
|  ***Pharmaceuticals (2.7%)*** |  |  |
|  Novartis AG (ADR) | 52481 | 6730163 |
|  Novo Nordisk A/S (ADR) | 216094 | 11991056 |
|  Roche Holding AG (ADR)(x) | 158597 | 6630941 |
|  |  | 25352160 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 137787082 |
|  **Industrials (6.0%)** |  |  |
|  ***Aerospace & Defense (4.2%)*** |  |  |
|  Boeing Co. (The)\* | 184174 | 39750274 |
|  ***Air Freight & Logistics (0.8%)*** |  |  |
|  Expeditors International of Washington, Inc. | 65627 | 8045214 |
|  ***Machinery (1.0%)*** |  |  |
|  Deere & Co. | 19934 | 9115021 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 56910509 |
|  **Information Technology (28.9%)** |  |  |
|  ***IT Services (2.6%)*** |  |  |
|  Shopify, Inc., Class A\* | 164601 | 24461355 |
|  ***Semiconductors & Semiconductor Equipment (11.1%)*** |  |  |
|  ARM Holdings plc (ADR)\* | 134636 | 19049648 |
|  NVIDIA Corp. | 403488 | 75282791 |
|  QUALCOMM, Inc. | 66621 | 11083069 |
|  |  | 105415508 |
|  ***Software (15.2%)*** |  |  |
|  Autodesk, Inc.\* | 81322 | 25833560 |
|  Microsoft Corp. | 54183 | 28064085 |
|  Oracle Corp. | 229344 | 64500706 |
|  Salesforce, Inc. | 55757 | 13214409 |
|  Workday, Inc., Class A\* | 52325 | 12596197 |
|  |  | 144208957 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 274085820 |
|  **Total Common Stocks (99.8%)**<br> *(Cost $353,812,259)* |  | 947791546 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.8%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 7307117 | 7307117 |
|  **Total Short-Term Investments (0.8%)**<br> *(Cost $7,307,117)* |  | 7307117 |
|  **Total Investments in Securities (100.6%)**<br> *(Cost $361,119,376)* |  | 955098663 |
|  **Other Assets Less Liabilities (-0.6%)** | **Other Assets Less Liabilities (-0.6%)** | (6092679) |
|  **Net Assets (100%)** | **Net Assets (100%)** | $949005984 |

---

See Notes to Portfolio of Investments.

675

------

**EQ ADVISORS TRUST** 

EQ/LOOMIS SAYLES GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $11,629,479. This was collateralized by $4,409,190 of various U.S. Government Treasury Securities, ranging from 0.000% – 4.875%, maturing 10/23/25 – 2/15/53 and by cash of $7,307,117 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active**<br>**Markets for Identical**<br>**Securities** | **Level 2**<br>**Significant Other**<br>**Observable Inputs**<br>**(including quoted prices**<br>**for similar securities,**<br>**interest rates,**<br>**prepayment speeds,**<br>**credit risk, etc.)** | **Level 3**<br>**Significant Unobservable**<br>**Inputs (including the**<br>**Portfolio's own**<br>**assumptions in**<br>**determining the fair**<br>**value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $210805774 | $— | $— | $210805774 |
|  Consumer Discretionary | 159143777 |  |  | 159143777 |
|  Consumer Staples | 34287845 |  |  | 34287845 |
|  Financials | 74770739 |  |  | 74770739 |
|  Health Care | 137787082 |  |  | 137787082 |
|  Industrials | 56910509 |  |  | 56910509 |
|  Information Technology | 274085820 |  |  | 274085820 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 7307117 |  |  | 7307117 |
|  **Total Assets** | $**955098663** | $**—** | $**—** | $**955098663** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**955098663** | $**—** | $**—** | $**955098663** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $633645113 |
|  Aggregate gross unrealized depreciation | (40113783) |
|  Net unrealized appreciation | $593531330 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $361567333 |

---

See Notes to Portfolio of Investments.

676

------

**EQ ADVISORS TRUST** 

EQ/MFS INTERNATIONAL GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Australia (1.9%)** |  |  |
|  Aristocrat Leisure Ltd. | 266196 | $12326410 |
|  Lottery Corp. Ltd. (The) | 673230 | 2619401 |
|  Northern Star Resources Ltd. | 508694 | 7987585 |
|  WiseTech Global Ltd. | 85067 | 5080067 |
|  |  | 28013463 |
|  **Brazil (2.9%)** |  |  |
|  B3 SA - Brasil Bolsa Balcao | 4671300 | 11717198 |
|  Banco BTG Pactual SA | 838870 | 7614413 |
|  MercadoLibre, Inc.\* | 2994 | 6996798 |
|  TOTVS SA | 1112700 | 9543850 |
|  XP, Inc., Class A | 337508 | 6341775 |
|  |  | 42214034 |
|  **Canada (7.6%)** |  |  |
|  Agnico Eagle Mines Ltd. | 194063 | 32685469 |
|  Element Fleet Management Corp. | 630057 | 16316199 |
|  Franco-Nevada Corp. | 142669 | 31755821 |
|  RB Global, Inc. | 261153 | 28286415 |
|  |  | 109043904 |
|  **China (3.7%)** |  |  |
|  Alibaba Group Holding Ltd. | 636600 | 14479430 |
|  China Resources Gas Group Ltd. | 1421900 | 3625119 |
|  Kingsoft Corp. Ltd. | 935400 | 4161367 |
|  Tencent Holdings Ltd. | 274600 | 23395139 |
|  Yum China Holdings, Inc. | 159536 | 6847285 |
|  |  | 52508340 |
|  **Denmark (0.7%)** |  |  |
|  Novo Nordisk A/S, Class B | 179577 | 9734307 |
|  **France (9.6%)** |  |  |
|  Air Liquide SA | 137168 | 28481904 |
|  Capgemini SE | 140595 | 20393850 |
|  Dassault Systemes SE | 349356 | 11693702 |
|  EssilorLuxottica SA | 86272 | 27955389 |
|  Kering SA | 19945 | 6616312 |
|  LVMH Moet Hennessy Louis Vuitton SE | 45754 | 27959950 |
|  Pernod Ricard SA | 103690 | 10169929 |
|  Sodexo SA | 65875 | 4141586 |
|  |  | 137412622 |
|  **Germany (8.2%)** |  |  |
|  Deutsche Boerse AG | 67679 | 18124491 |
|  GEA Group AG | 294343 | 21719288 |
|  Merck KGaA | 61723 | 7931392 |
|  SAP SE | 178944 | 47879329 |
|  Symrise AG, Class A | 152507 | 13256924 |
|  Zalando SE(m)\* | 284781 | 8696369 |
|  |  | 117607793 |
|  **Hong Kong (2.5%)** |  |  |
|  AIA Group Ltd. | 3783769 | 36296604 |
|  **India (3.1%)** |  |  |
|  HDFC Bank Ltd. | 2160573 | 23141501 |
|  Kotak Mahindra Bank Ltd. | 240431 | 5396031 |
|  Reliance Industries Ltd. | 650854 | 9998618 |
|  UPL Ltd. | 896599 | 6622344 |
|  |  | 45158494 |
|  **Ireland (0.3%)** |  |  |
|  Kingspan Group plc | 52381 | 4354052 |
|  **Japan (10.1%)** |  |  |
|  Daiichi Sankyo Co. Ltd. | 645700 | 14474054 |
|  Hitachi Ltd. | 1812000 | 48153362 |
|  LY Corp. | 2163100 | 6963870 |
|  Nomura Research Institute Ltd. | 423300 | 16238164 |
|  Obic Co. Ltd. | 379800 | 13236563 |
|  Oracle Corp. | 90200 | 9209994 |
|  Pan Pacific International Holdings Corp. | 1361000 | 8973020 |
|  Resonac Holdings Corp. | 321600 | 10918982 |
|  Sugi Holdings Co. Ltd. | 285400 | 6881945 |
|  Terumo Corp. | 577300 | 9536761 |
|  |  | 144586715 |
|  **Macau (0.5%)** |  |  |
|  Sands China Ltd. | 2688800 | 7497730 |
|  **Mexico (0.8%)** |  |  |
|  Grupo Financiero Banorte SAB de CV, Class O | 1218416 | 12237052 |
|  **Netherlands (3.7%)** |  |  |
|  Akzo Nobel NV | 102797 | 7313742 |
|  ASML Holding NV | 16715 | 16250838 |
|  Heineken NV | 371419 | 28963403 |
|  |  | 52527983 |
|  **Peru (1.3%)** |  |  |
|  Credicorp Ltd. | 68028 | 18114496 |
|  **Singapore (1.7%)** |  |  |
|  DBS Group Holdings Ltd. | 518610 | 20564287 |
|  Singapore Technologies Engineering Ltd. | 534500 | 3567615 |
|  |  | 24131902 |
|  **South Korea (1.3%)** |  |  |
|  Amorepacific Corp. | 75759 | 6603703 |
|  NAVER Corp. | 59948 | 11472177 |
|  |  | 18075880 |
|  **Spain (2.2%)** |  |  |
|  Amadeus IT Group SA | 402248 | 31877500 |
|  **Sweden (2.4%)** |  |  |
|  Assa Abloy AB, Class B | 772005 | 26782039 |
|  Atlas Copco AB, Class A | 436060 | 7359995 |
|  |  | 34142034 |
|  **Switzerland (1.1%)** |  |  |
|  Sika AG (Registered) | 34350 | 7641963 |
|  Sonova Holding AG (Registered) | 30874 | 8400614 |
|  |  | 16042577 |
|  **Taiwan (8.1%)** |  |  |
|  Delta Electronics, Inc. | 1077000 | 30177768 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. | 2014000 | 86234989 |
|  |  | 116412757 |
|  **Thailand (0.4%)** |  |  |
|  Kasikornbank PCL | 1001800 | 5162802 |
|  **United Kingdom (9.4%)** |  |  |
|  AstraZeneca plc | 144039 | 21661552 |
|  Burberry Group plc\* | 278448 | 4373981 |
|  Compass Group plc | 390633 | 13286413 |
|  Diageo plc | 577978 | 13801363 |
|  Flutter Entertainment plc, Class DI\* | 71873 | 18255742 |
|  London Stock Exchange Group plc | 73133 | 8376046 |
|  Reckitt Benckiser Group plc | 308708 | 23740072 |
|  Rolls-Royce Holdings plc | 2003175 | 32059434 |
|  |  | 135554603 |
|  **United States (15.3%)** |  |  |
|  Experian plc | 374296 | 18736202 |
|  Haleon plc | 1773886 | 7930064 |
|  James Hardie Industries plc (CHDI)\* | 430887 | 8006111 |
|  Linde plc | 70943 | 33697925 |
|  Nestle SA (Registered) | 437475 | 40156144 |
|  QIAGEN NV | 297621 | 13171460 |
|  Roche Holding AG | 118290 | 38620151 |
|  Schneider Electric SE | 189976 | 52994618 |

---

See Notes to Portfolio of Investments.

677

------

**EQ ADVISORS TRUST** 

EQ/MFS INTERNATIONAL GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Tenaris SA | 327784 | $5845641 |
|  |  | 219158316 |
|  **Total Investments in Securities (98.8%)**<br> *(Cost $851,051,944)* |  | 1417865960 |
|  **Other Assets Less Liabilities (1.2%)** |  | 16528717 |
|  **Net Assets (100%)** |  | $1434394677 |

---

*\** *Non-income producing.* 

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $8,696,369 or 0.6% of net assets.* 

*Glossary:* 

*CHDI — Clearing House Electronic Subregister System (CHESS) Depository Interest* 

---

| | | |
|:---|:---|:---|
| **Sector Weightings**<br> **as of September 30, 2025** | **Market**<br>**Value** | **% of<br>Net Assets** |
|  Information Technology | $265939114 | 18.5% |
|  Industrials | 260329219 | 18.1 |
|  Materials | 188368770 | 13.1 |
|  Consumer Discretionary | 174947927 | 12.2 |
|  Financials | 173086696 | 12.1 |
|  Health Care | 159415744 | 11.1 |
|  Consumer Staples | 130316559 | 9.1 |
|  Communication Services | 45992553 | 3.2 |
|  Energy | 15844259 | 1.1 |
|  Utilities | 3625119 | 0.3 |
|  Cash and Other | 16528717 | 1.2 |
|  |  | 100.0% |

---

See Notes to Portfolio of Investments.

678

------

**EQ ADVISORS TRUST** 

EQ/MFS INTERNATIONAL GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Australia | $— | $28013463 | $— | $28013463 |
|  Brazil | 42214034 |  |  | 42214034 |
|  Canada | 109043904 |  |  | 109043904 |
|  China | 6847285 | 45661055 |  | 52508340 |
|  Denmark |  | 9734307 |  | 9734307 |
|  France |  | 137412622 |  | 137412622 |
|  Germany |  | 117607793 |  | 117607793 |
|  Hong Kong |  | 36296604 |  | 36296604 |
|  India |  | 45158494 |  | 45158494 |
|  Ireland |  | 4354052 |  | 4354052 |
|  Japan |  | 144586715 |  | 144586715 |
|  Macau |  | 7497730 |  | 7497730 |
|  Mexico | 12237052 |  |  | 12237052 |
|  Netherlands |  | 52527983 |  | 52527983 |
|  Peru | 18114496 |  |  | 18114496 |
|  Singapore |  | 24131902 |  | 24131902 |
|  South Korea |  | 18075880 |  | 18075880 |
|  Spain |  | 31877500 |  | 31877500 |
|  Sweden |  | 34142034 |  | 34142034 |
|  Switzerland |  | 16042577 |  | 16042577 |
|  Taiwan |  | 116412757 |  | 116412757 |
|  Thailand |  | 5162802 |  | 5162802 |
|  United Kingdom | 18255742 | 117298861 |  | 135554603 |
|  United States | 33697925 | 185460391 |  | 219158316 |
|  **Total Assets** | $**240410438** | $**1177455522** | $**—** | $**1417865960** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**240410438** | $**1177455522** | $**—** | $**1417865960** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $618962489 |
|  Aggregate gross unrealized depreciation | (59006943) |
|  Net unrealized appreciation | $559955546 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $857910414 |

---

See Notes to Portfolio of Investments.

679

------

**EQ ADVISORS TRUST** 

EQ/MFS INTERNATIONAL INTRINSIC VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Australia (2.5%)** |  |  |
|  Glencore plc | 3467694 | $15931205 |
|  Northern Star Resources Ltd. | 753974 | 11839006 |
|  Woodside Energy Group Ltd. | 465684 | 7096536 |
|  |  | 34866747 |
|  **Brazil (2.3%)** |  |  |
|  Petroleo Brasileiro SA - Petrobras (ADR) | 446695 | 5279935 |
|  Wheaton Precious Metals Corp. | 248422 | 27799987 |
|  |  | 33079922 |
|  **Canada (5.7%)** |  |  |
|  Agnico Eagle Mines Ltd. | 144093 | 24269166 |
|  Franco-Nevada Corp. | 253359 | 56393632 |
|  |  | 80662798 |
|  **Denmark (0.2%)** |  |  |
|  Novonesis Novozymes B | 37350 | 2285746 |
|  **France (11.5%)** |  |  |
|  Capgemini SE | 51491 | 7468969 |
|  Cie de Saint-Gobain SA | 191789 | 20639071 |
|  Dassault Systemes SE | 540733 | 18099504 |
|  EssilorLuxottica SA | 63036 | 20426047 |
|  Legrand SA | 271405 | 44801211 |
|  LVMH Moet Hennessy Louis Vuitton SE | 7026 | 4293540 |
|  Pernod Ricard SA | 124550 | 12215881 |
|  TotalEnergies SE | 565301 | 34332769 |
|  |  | 162276992 |
|  **Germany (6.2%)** |  |  |
|  Beiersdorf AG | 77847 | 8134268 |
|  Deutsche Boerse AG | 104865 | 28082931 |
|  GEA Group AG | 28409 | 2096273 |
|  Knorr-Bremse AG | 102544 | 9613284 |
|  SAP SE | 115238 | 30833770 |
|  Symrise AG, Class A | 96950 | 8427540 |
|  |  | 87188066 |
|  **Greece (0.8%)** |  |  |
|  National Bank of Greece SA | 800650 | 11623139 |
|  **Ireland (4.5%)** |  |  |
|  AIB Group plc | 4190505 | 37956738 |
|  Bank of Ireland Group plc | 1543166 | 25391733 |
|  |  | 63348471 |
|  **Italy (1.8%)** |  |  |
|  BPER Banca SpA | 776236 | 8599403 |
|  Ryanair Holdings plc (ADR) | 271353 | 16340878 |
|  |  | 24940281 |
|  **Japan (12.5%)** |  |  |
|  Chiba Bank Ltd. (The) | 1270600 | 13355971 |
|  Ezaki Glico Co. Ltd. | 152800 | 5231270 |
|  Hirose Electric Co. Ltd. | 63100 | 7863766 |
|  Kose Corp. | 34400 | 1379164 |
|  Lion Corp. | 120600 | 1259537 |
|  M3, Inc. | 694400 | 11203559 |
|  Mitsubishi Electric Corp. | 1052000 | 27053156 |
|  Nitto Denko Corp. | 430000 | 10226257 |
|  Nomura Research Institute Ltd. | 147200 | 5646723 |
|  Olympus Corp. | 453600 | 5738821 |
|  Resona Holdings, Inc. | 3465200 | 35393614 |
|  Rohto Pharmaceutical Co. Ltd. | 630700 | 10604426 |
|  Shimadzu Corp. | 429900 | 10857602 |
|  Taisei Corp. | 165800 | 11402008 |
|  Toyo Suisan Kaisha Ltd. | 270800 | 19364439 |
|  |  | 176580313 |
|  **Luxembourg (0.7%)** |  |  |
|  ArcelorMittal SA | 257639 | 9249871 |
|  **Netherlands (3.1%)** |  |  |
|  ASML Holding NV | 12103 | 11766909 |
|  Euronext NV(m) | 140559 | 21023968 |
|  Wolters Kluwer NV | 76331 | 10408946 |
|  |  | 43199823 |
|  **Norway (0.8%)** |  |  |
|  Aker BP ASA | 468609 | 11884798 |
|  **Portugal (0.4%)** |  |  |
|  Galp Energia SGPS SA | 296083 | 5596622 |
|  **South Korea (2.3%)** |  |  |
|  Samsung Electronics Co. Ltd. | 409338 | 24477715 |
|  Samsung Fire & Marine Insurance Co. Ltd. | 26781 | 8618097 |
|  |  | 33095812 |
|  **Spain (4.4%)** |  |  |
|  Amadeus IT Group SA | 250123 | 19821841 |
|  CaixaBank SA | 4021091 | 42233725 |
|  |  | 62055566 |
|  **Sweden (2.1%)** |  |  |
|  Assa Abloy AB, Class B | 503555 | 17469096 |
|  Epiroc AB, Class A | 249688 | 5261950 |
|  Svenska Cellulosa AB SCA, Class B | 481914 | 6365356 |
|  |  | 29096402 |
|  **Switzerland (5.6%)** |  |  |
|  Chocoladefabriken Lindt & Spruengli AG | 328 | 5010339 |
|  Cie Financiere Richemont SA (Registered) | 41544 | 7911652 |
|  Julius Baer Group Ltd. | 133944 | 9247613 |
|  Sandoz Group AG | 303833 | 18003646 |
|  Schindler Holding AG | 22136 | 8375558 |
|  Sika AG (Registered) | 25531 | 5679970 |
|  UBS Group AG (Registered) | 613124 | 25039459 |
|  |  | 79268237 |
|  **Taiwan (3.8%)** |  |  |
|  Taiwan Semiconductor Manufacturing Co. Ltd. (ADR) | 191997 | 53622842 |
|  **United Kingdom (11.0%)** |  |  |
|  Croda International plc | 83990 | 3054388 |
|  Diageo plc | 558295 | 13331359 |
|  Hiscox Ltd. | 404508 | 7447672 |
|  IMI plc | 658661 | 20250147 |
|  Intertek Group plc | 74533 | 4733306 |
|  Lloyds Banking Group plc | 15112820 | 17036609 |
|  London Stock Exchange Group plc | 152485 | 17464364 |
|  NatWest Group plc | 5862169 | 41123106 |
|  Reckitt Benckiser Group plc | 118070 | 9079746 |
|  Smith & Nephew plc | 886804 | 15951864 |
|  Spirax Group plc | 57797 | 5297380 |
|  |  | 154769941 |
|  **United States (15.0%)** |  |  |
|  Agilent Technologies, Inc. | 136014 | 17457397 |
|  Alcon AG | 122408 | 9112365 |
|  Cadence Design Systems, Inc.\* | 20326 | 7139711 |
|  CRH plc | 174215 | 20888378 |
|  Experian plc | 414594 | 20753406 |
|  Haleon plc | 5335746 | 23853173 |
|  Kenvue, Inc. | 745397 | 12097793 |
|  Roche Holding AG | 74107 | 24194974 |
|  Schneider Electric SE | 141162 | 39377744 |
|  Tenaris SA | 392924 | 7007336 |
|  Waters Corp.\* | 38191 | 11450044 |

---

See Notes to Portfolio of Investments.

680

------

**EQ ADVISORS TRUST** 

EQ/MFS INTERNATIONAL INTRINSIC VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Willis Towers Watson plc | 50109 | $17310154 |
|  |  | 210642475 |
|  **Total Common Stocks (97.2%)**<br> *(Cost $921,843,857)* |  | 1369334864 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.7%)** |  |  |
|  JPMorgan Prime Money Market<br>Fund, IM Shares 4.28% (7 day yield) | 9518426 | 9522234 |
|  **Total Short-Term Investments (0.7%)**<br> *(Cost $9,521,529)* |  | 9522234 |
|  **Total Investments in Securities (97.9%)**<br> *(Cost $931,365,386)* |  | 1378857098 |
|  **Other Assets Less Liabilities (2.1%)** |  | 29333669 |
|  **Net Assets (100%)** |  | $1408190767 |

---

*\** *Non-income producing.* 

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $21,023,968 or 1.5% of net assets.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

---

| | | |
|:---|:---|:---|
| **Sector Weightings**<br> **as of September 30, 2025** | **Market**<br>**Value** | **% of<br>Net Assets** |
|  Financials | $366948296 | 26.1% |
|  Industrials | 263873414 | 18.7 |
|  Materials | 202410502 | 14.4 |
|  Information Technology | 177777511 | 12.6 |
|  Health Care | 157391890 | 11.2 |
|  Consumer Staples | 97708222 | 6.9 |
|  Energy | 71197996 | 5.0 |
|  Consumer Discretionary | 32027033 | 2.3 |
|  Investment Companies | 9522234 | 0.7 |
|  Cash and Other | 29333669 | 2.1 |
|  |  | 100.0% |

---

See Notes to Portfolio of Investments.

681

------

**EQ ADVISORS TRUST** 

EQ/MFS INTERNATIONAL INTRINSIC VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Australia | $— | $34866747 | $— | $34866747 |
|  Brazil | 33079922 |  |  | 33079922 |
|  Canada | 80662798 |  |  | 80662798 |
|  Denmark |  | 2285746 |  | 2285746 |
|  France |  | 162276992 |  | 162276992 |
|  Germany |  | 87188066 |  | 87188066 |
|  Greece |  | 11623139 |  | 11623139 |
|  Ireland |  | 63348471 |  | 63348471 |
|  Italy | 16340878 | 8599403 |  | 24940281 |
|  Japan |  | 176580313 |  | 176580313 |
|  Luxembourg |  | 9249871 |  | 9249871 |
|  Netherlands |  | 43199823 |  | 43199823 |
|  Norway |  | 11884798 |  | 11884798 |
|  Portugal |  | 5596622 |  | 5596622 |
|  South Korea |  | 33095812 |  | 33095812 |
|  Spain |  | 62055566 |  | 62055566 |
|  Sweden |  | 29096402 |  | 29096402 |
|  Switzerland |  | 79268237 |  | 79268237 |
|  Taiwan | 53622842 |  |  | 53622842 |
|  United Kingdom |  | 154769941 |  | 154769941 |
|  United States | 86343477 | 124298998 |  | 210642475 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 9522234 |  |  | 9522234 |
|  **Total Assets** | $**279572151** | $**1099284947** | $**—** | $**1378857098** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**279572151** | $**1099284947** | $**—** | $**1378857098** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $498174691 |
|  Aggregate gross unrealized depreciation | (50843001) |
|  Net unrealized appreciation | $447331690 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $931525408 |

---

See Notes to Portfolio of Investments.

682

------

**EQ ADVISORS TRUST** 

EQ/MFS MID CAP FOCUSED GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (15.9%)** |  |  |
|  ***Entertainment (15.9%)*** |  |  |
|  Live Nation Entertainment, Inc.\* | 81131 | $13256805 |
|  ROBLOX Corp., Class A\* | 133031 | 18427454 |
|  Spotify Technology SA\* | 29961 | 20912778 |
|  Take-Two Interactive Software, Inc.\* | 82036 | 21194821 |
|  TKO Group Holdings, Inc., Class A | 79377 | 16030979 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 89822837 |
|  **Consumer Discretionary (16.0%)** |  |  |
|  ***Broadline Retail (1.8%)*** |  |  |
|  Coupang, Inc., Class A\* | 309981 | 9981388 |
|  ***Diversified Consumer Services (1.3%)*** |  |  |
|  Bright Horizons Family Solutions, Inc.\* | 66778 | 7250087 |
|  ***Hotels, Restaurants & Leisure (8.4%)*** |  |  |
|  Aramark | 193860 | 7444224 |
|  DraftKings, Inc., Class A\* | 199706 | 7469004 |
|  Hyatt Hotels Corp., Class A | 58088 | 8244430 |
|  Royal Caribbean Cruises Ltd. | 17811 | 5763283 |
|  Sportradar Group AG, Class A\* | 180384 | 4852330 |
|  Viking Holdings Ltd.\* | 102248 | 6355736 |
|  Wingstop, Inc. | 29569 | 7441926 |
|  |  | 47570933 |
|  ***Specialty Retail (4.5%)*** |  |  |
|  Burlington Stores, Inc.\* | 27350 | 6960575 |
|  Carvana Co.\* | 19713 | 7436532 |
|  O'Reilly Automotive, Inc.\* | 101559 | 10949076 |
|  |  | 25346183 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 90148591 |
|  **Consumer Staples (0.8%)** |  |  |
|  ***Consumer Staples Distribution & Retail (0.8%)*** |  |  |
|  BJ's Wholesale Club Holdings, Inc.\* | 50999 | 4755657 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 4755657 |
|  **Energy (2.2%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (2.2%)*** |  |  |
|  Cheniere Energy, Inc. | 51836 | 12180423 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 12180423 |
|  **Financials (12.4%)** |  |  |
|  ***Capital Markets (11.3%)*** |  |  |
|  Ares Management Corp., Class A | 61687 | 9863134 |
|  Carlyle Group, Inc. (The) | 153810 | 9643887 |
|  LPL Financial Holdings, Inc. | 40320 | 13414061 |
|  Nasdaq, Inc. | 132836 | 11749344 |
|  Robinhood Markets, Inc., Class A\* | 133760 | 19151757 |
|  |  | 63822183 |
|  ***Insurance (1.1%)*** |  |  |
|  Arthur J Gallagher & Co. | 19675 | 6094135 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 69916318 |
|  **Health Care (10.6%)** |  |  |
|  ***Biotechnology (4.5%)*** |  |  |
|  Ascendis Pharma A/S (ADR)\* | 60034 | 11935360 |
|  Natera, Inc.\* | 82433 | 13269240 |
|  |  | 25204600 |
|  ***Health Care Equipment & Supplies (3.0%)*** |  |  |
|  Dexcom, Inc.\* | 99396 | 6688357 |
|  Masimo Corp.\* | 69470 | 10250298 |
|  |  | 16938655 |
|  ***Health Care Technology (1.6%)*** |  |  |
|  Veeva Systems, Inc., Class A\* | 30267 | 9016842 |
|  ***Life Sciences Tools & Services (1.5%)*** |  |  |
|  Agilent Technologies, Inc. | 66814 | 8575577 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 59735674 |
|  **Industrials (14.6%)** |  |  |
|  ***Aerospace & Defense (9.2%)*** |  |  |
|  Axon Enterprise, Inc.\* | 21068 | 15119240 |
|  BWX Technologies, Inc. | 32230 | 5942245 |
|  Howmet Aerospace, Inc. | 156091 | 30629737 |
|  |  | 51691222 |
|  ***Construction & Engineering (2.0%)*** |  |  |
|  Quanta Services, Inc. | 27812 | 11525849 |
|  ***Professional Services (3.4%)*** |  |  |
|  TransUnion | 109258 | 9153635 |
|  Verisk Analytics, Inc. | 38673 | 9726646 |
|  |  | 18880281 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 82097352 |
|  **Information Technology (18.6%)** |  |  |
|  ***Electronic Equipment, Instruments & Components (1.7%)*** |  |  |
|  Trimble, Inc.\* | 118991 | 9715615 |
|  ***IT Services (1.1%)*** |  |  |
|  Okta, Inc.\* | 66102 | 6061553 |
|  ***Semiconductors & Semiconductor Equipment (4.7%)*** |  |  |
|  Astera Labs, Inc.\* | 45132 | 8836846 |
|  Monolithic Power Systems, Inc. | 19380 | 17842003 |
|  |  | 26678849 |
|  ***Software (11.1%)*** |  |  |
|  Cadence Design Systems, Inc.\* | 37540 | 13186301 |
|  Constellation Software, Inc. | 3614 | 9810749 |
|  Datadog, Inc., Class A\* | 55458 | 7897219 |
|  Guidewire Software, Inc.\* | 85543 | 19662914 |
|  Tyler Technologies, Inc.\* | 22329 | 11681640 |
|  |  | 62238823 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 104694840 |
|  **Materials (2.0%)** |  |  |
|  ***Construction Materials (2.0%)*** |  |  |
|  Vulcan Materials Co. | 36735 | 11300421 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 11300421 |
|  **Real Estate (3.8%)** |  |  |
|  ***Real Estate Management & Development (3.8%)*** |  |  |
|  CBRE Group, Inc., Class A\* | 78700 | 12399972 |
|  CoStar Group, Inc.\* | 108743 | 9174647 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 21574619 |
|  **Utilities (2.6%)** |  |  |
|  ***Independent Power and Renewable Electricity Producers (2.6%)*** |  |  |
|  Vistra Corp. | 76330 | 14954573 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 14954573 |
|  **Total Common Stocks (99.5%)**<br> *(Cost $398,919,548)* |  | 561181305 |

---

See Notes to Portfolio of Investments.

683

------

**EQ ADVISORS TRUST** 

EQ/MFS MID CAP FOCUSED GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Warrants** | **Value**<br>**(Note 1)** |
|  WARRANTS: |  |  |
|  **Information Technology (0.0%)** |  |  |
|  ***Software (0.0%)*** |  |  |
|  Constellation Software, Inc.,expiring 3/31/40(r)\*<br>*(Cost $—)* | 6159 | $— |
|  **Total Investments in Securities (99.5%)**<br> *(Cost $398,919,548)* |  | 561181305 |
|  **Other Assets Less Liabilities (0.5%)** |  | 2563409 |
|  **Net Assets (100%)** |  | $563744714 |

---

*\** *Non-income producing.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

See Notes to Portfolio of Investments.

684

------

**EQ ADVISORS TRUST** 

EQ/MFS MID CAP FOCUSED GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active**<br>**Markets for Identical**<br>**Securities** | **Level 2**<br>**Significant Other**<br>**Observable Inputs**<br>**(including quoted prices**<br>**for similar securities,**<br>**interest rates,**<br>**prepayment speeds,**<br>**credit risk, etc.)** | **Level 3**<br>**Significant Unobservable**<br>**Inputs (including the**<br>**Portfolio's own**<br>**assumptions in**<br>**determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $89822837 | $— | $— | $89822837 |
|  Consumer Discretionary | 90148591 |  |  | 90148591 |
|  Consumer Staples | 4755657 |  |  | 4755657 |
|  Energy | 12180423 |  |  | 12180423 |
|  Financials | 69916318 |  |  | 69916318 |
|  Health Care | 59735674 |  |  | 59735674 |
|  Industrials | 82097352 |  |  | 82097352 |
|  Information Technology | 104694840 |  |  | 104694840 |
|  Materials | 11300421 |  |  | 11300421 |
|  Real Estate | 21574619 |  |  | 21574619 |
|  Utilities | 14954573 |  |  | 14954573 |
|  **Warrants** |  |  |  |  |
|  Information Technology |  |  | — (a) | — (a) |
|  **Total Assets** | $**561181305** | $**—** | $**—** | $**561181305** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**561181305** | $**—** | $**—** | $**561181305** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $172205110 |
|  Aggregate gross unrealized depreciation | (9945686) |
|  Net unrealized appreciation | $162259424 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $398921881 |

---

See Notes to Portfolio of Investments.

685

------

**EQ ADVISORS TRUST** 

EQ/MFS TECHNOLOGY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (14.4%)** |  |  |
|  ***Entertainment (0.3%)*** |  |  |
|  Take-Two Interactive Software, Inc.\* | 13849 | $3578028 |
|  ***Interactive Media & Services (14.1%)*** |  |  |
|  Alphabet, Inc., Class A | 379702 | 92305556 |
|  Meta Platforms, Inc., Class A | 107516 | 78957600 |
|  |  | 171263156 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 174841184 |
|  **Consumer Discretionary (0.5%)** |  |  |
|  ***Hotels, Restaurants & Leisure (0.5%)*** |  |  |
|  Booking Holdings, Inc. | 1177 | 6354941 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 6354941 |
|  **Financials (1.1%)** |  |  |
|  ***Capital Markets (0.6%)*** |  |  |
|  S&P Global, Inc. | 16409 | 7986424 |
|  ***Insurance (0.5%)*** |  |  |
|  Aon plc, Class A | 16429 | 5858253 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 13844677 |
|  **Industrials (2.4%)** |  |  |
|  ***Industrial Conglomerates (1.6%)*** |  |  |
|  Hitachi Ltd. | 730000 | 19399533 |
|  ***Professional Services (0.8%)*** |  |  |
|  Verisk Analytics, Inc. | 38381 | 9653205 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 29052738 |
|  **Information Technology (79.5%)** |  |  |
|  ***Communications Equipment (2.8%)*** |  |  |
|  Arista Networks, Inc.\* | 101834 | 14838232 |
|  Cisco Systems, Inc. | 288447 | 19735544 |
|  |  | 34573776 |
|  ***Electronic Equipment, Instruments & Components (1.5%)*** |  |  |
|  Amphenol Corp., Class A | 65466 | 8101418 |
|  CDW Corp. | 30112 | 4796239 |
|  Corning, Inc. | 68802 | 5643828 |
|  |  | 18541485 |
|  ***IT Services (11.8%)*** |  |  |
|  Accenture plc, Class A | 88634 | 21857144 |
|  EPAM Systems, Inc.\* | 68647 | 10351281 |
|  International Business Machines Corp. | 94281 | 26602327 |
|  Okta, Inc.\* | 111052 | 10183469 |
|  Shopify, Inc., Class A\* | 365560 | 54325872 |
|  Snowflake, Inc., Class A\* | 88631 | 19990722 |
|  |  | 143310815 |
|  ***Semiconductors & Semiconductor Equipment (24.6%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 50803 | 8219417 |
|  Analog Devices, Inc. | 16204 | 3981323 |
|  Applied Materials, Inc. | 72779 | 14900772 |
|  Broadcom, Inc. | 273960 | 90382144 |
|  KLA Corp. | 18438 | 19887227 |
|  Lam Research Corp. | 195704 | 26204766 |
|  NVIDIA Corp. | 511184 | 95376711 |
|  Onto Innovation, Inc.\* | 32401 | 4186857 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. | 497000 | 21280432 |
|  Teradyne, Inc. | 103829 | 14291023 |
|  |  | 298710672 |
|  ***Software (29.2%)*** |  |  |
|  Adobe, Inc.\* | 7804 | 2752861 |
|  Atlassian Corp., Class A\* | 33456 | 5342923 |
|  Autodesk, Inc.\* | 8019 | 2547396 |
|  Cadence Design Systems, Inc.\* | 41558 | 14597663 |
|  Constellation Software, Inc. | 5533 | 15020165 |
|  Crowdstrike Holdings, Inc., Class A\* | 37134 | 18209771 |
|  Datadog, Inc., Class A\* | 138449 | 19715138 |
|  Descartes Systems Group, Inc. (The)\* | 84388 | 7945824 |
|  Figma, Inc., Class A\* | 2053 | 106489 |
|  Guidewire Software, Inc.\* | 65940 | 15156968 |
|  HubSpot, Inc.\* | 26047 | 12184787 |
|  Intuit, Inc. | 29193 | 19936192 |
|  Microsoft Corp. | 178175 | 92285741 |
|  Oracle Corp. | 92221 | 25936234 |
|  Palantir Technologies, Inc., Class A\* | 98803 | 18023643 |
|  Palo Alto Networks, Inc.\* | 29610 | 6029188 |
|  Pegasystems, Inc. | 216893 | 12471347 |
|  Salesforce, Inc. | 52112 | 12350544 |
|  ServiceNow, Inc.\* | 22839 | 21018275 |
|  ServiceTitan, Inc., Class A\* | 70347 | 7093088 |
|  Tyler Technologies, Inc.\* | 20645 | 10800638 |
|  Vertex, Inc., Class A\* | 164482 | 4077509 |
|  Zscaler, Inc.\* | 36007 | 10789858 |
|  |  | 354392242 |
|  ***Technology Hardware, Storage & Peripherals (9.6%)*** |  |  |
|  Apple, Inc. | 422563 | 107597216 |
|  Seagate Technology Holdings plc | 37314 | 8808343 |
|  |  | 116405559 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 965934549 |
|  **Total Common Stocks (97.9%)**<br> *(Cost $706,623,519)* |  | 1190028089 |
|  | **Number of<br>Warrants** | **Value**<br>**(Note 1)** |
|  WARRANTS: |  |  |
|  **Information Technology (0.0%)** |  |  |
|  ***Software (0.0%)*** |  |  |
|  Constellation Software, Inc.,expiring 3/31/40(r)\*<br>*(Cost $—)* | 4387 |  |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (1.3%)** |  |  |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 16340735 | 16347272 |
|  **Total Short-Term Investments (1.3%)**<br> *(Cost $16,345,733)* |  | 16347272 |
|  **Total Investments in Securities (99.2%)**<br> *(Cost $722,969,252)* |  | 1206375361 |
|  **Other Assets Less Liabilities (0.8%)** |  | 9327135 |
|  **Net Assets (100%)** |  | $1215702496 |

---

See Notes to Portfolio of Investments.

686

------

**EQ ADVISORS TRUST** 

EQ/MFS TECHNOLOGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active**<br>**Markets for Identical**<br>**Securities** | **Level 2**<br>**Significant Other**<br>**Observable Inputs**<br>**(including quoted prices**<br>**for similar securities,**<br>**interest rates,**<br>**prepayment speeds,**<br>**credit risk, etc.)** | **Level 3**<br>**Significant Unobservable**<br>**Inputs (including the**<br>**Portfolio's own**<br>**assumptions in**<br>**determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $174841184 | $— | $— | $174841184 |
|  Consumer Discretionary | 6354941 |  |  | 6354941 |
|  Financials | 13844677 |  |  | 13844677 |
|  Industrials | 9653205 | 19399533 |  | 29052738 |
|  Information Technology | 944654117 | 21280432 |  | 965934549 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 16347272 |  |  | 16347272 |
|  **Warrants** |  |  |  |  |
|  Information Technology |  |  | — (a) | — (a) |
|  **Total Assets** | $**1165695396** | $**40679965** | $**—** | $**1206375361** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**1165695396** | $**40679965** | $**—** | $**1206375361** |

---

*(a)* *Value is zero.* 

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $501382403 |
|  Aggregate gross unrealized depreciation | (18697029) |
|  Net unrealized appreciation | $482685374 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $723689987 |

---

See Notes to Portfolio of Investments.

687

------

**EQ ADVISORS TRUST**

EQ/MFS UTILITIES SERIES PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (0.3%)** |  |  |
|  ***Diversified Telecommunication Services (0.3%)*** |  |  |
|  Hellenic Telecommunications Organization SA | 35178 | $665768 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 665768 |
|  **Industrials (0.3%)** |  |  |
|  ***Electrical Equipment (0.3%)*** |  |  |
|  Generac Holdings, Inc.\* | 4537 | 759494 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 759494 |
|  **Utilities (98.1%)** |  |  |
|  ***Electric Utilities (58.5%)*** |  |  |
|  Alliant Energy Corp. | 98931 | 6668939 |
|  American Electric Power Co., Inc. | 74642 | 8397225 |
|  Constellation Energy Corp. | 55252 | 18181776 |
|  Duke Energy Corp. | 19774 | 2447032 |
|  Edison International | 124794 | 6898612 |
|  EDP SA | 508755 | 2411315 |
|  Enel SpA | 403414 | 3820285 |
|  Entergy Corp. | 30783 | 2868668 |
|  NextEra Energy, Inc. | 318450 | 24039790 |
|  OGE Energy Corp. | 62217 | 2878781 |
|  PG&E Corp. | 832838 | 12559197 |
|  Pinnacle West Capital Corp. | 57666 | 5170333 |
|  Portland General Electric Co. | 75271 | 3311924 |
|  PPL Corp. | 221687 | 8237889 |
|  Southern Co. (The) | 96919 | 9185014 |
|  SSE plc | 209819 | 4914262 |
|  Xcel Energy, Inc. | 160321 | 12929889 |
|  |  | 134920931 |
|  ***Gas Utilities (2.1%)*** |  |  |
|  Atmos Energy Corp. | 24286 | 4146835 |
|  Spire, Inc. | 7048 | 574553 |
|  |  | 4721388 |
|  ***Independent Power and Renewable Electricity Producers (10.4%)*** |  |  |
|  EDP Renovaveis SA | 316418 | 4160694 |
|  RWE AG | 191273 | 8493013 |
|  Vistra Corp. | 57684 | 11301449 |
|  |  | 23955156 |
|  ***Multi-Utilities (26.0%)*** |  |  |
|  Ameren Corp. | 85765 | 8952151 |
|  CenterPoint Energy, Inc. | 45362 | 1760046 |
|  Dominion Energy, Inc. | 149317 | 9133721 |
|  DTE Energy Co. | 72494 | 10252826 |
|  E.ON SE | 96623 | 1816745 |
|  National Grid plc | 198760 | 2853559 |
|  NiSource, Inc. | 54339 | 2352879 |
|  Public Service Enterprise Group, Inc. | 96017 | 8013579 |
|  Sempra | 127687 | 11489276 |
|  Veolia Environnement SA | 32841 | 1117381 |
|  WEC Energy Group, Inc. | 20117 | 2305207 |
|  |  | 60047370 |
|  ***Water Utilities (1.1%)*** |  |  |
|  United Utilities Group plc | 162444 | 2504769 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 226149614 |
|  **Total Investments in Securities (98.7%)**<br> *(Cost $162,364,262)* |  | 227574876 |
|  **Other Assets Less Liabilities (1.3%)** |  | 3041450 |
|  **Net Assets (100%)** |  | $230616326 |

---

*\** *Non-income producing.* 

See Notes to Portfolio of Investments.

688

------

**EQ ADVISORS TRUST**

EQ/MFS UTILITIES SERIES PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*Glossary:* 

*CAD — Canadian Dollar* 

*EUR — European Currency Unit* 

*GBP — British Pound* 

*USD — United States Dollar* 

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  CAD | 222566 | USD | 159838 | Merrill Lynch International | 10/17/2025 | 209 |
|  CAD | 43812 | USD | 31501 | Morgan Stanley | 10/17/2025 | 4 |
|  EUR | 47083 | USD | 55219 | BNP Paribas | 10/17/2025 | 112 |
|  EUR | 575370 | USD | 674442 | HSBC Bank plc | 10/17/2025 | 1718 |
|  EUR | 624887 | USD | 729742 | Morgan Stanley | 10/17/2025 | 4610 |
|  EUR | 424330 | USD | 496014 | UBS AG | 10/17/2025 | 2648 |
|  USD | 1187905 | CAD | 1624475 | Merrill Lynch International | 10/17/2025 | 19745 |
|  USD | 154081 | CAD | 210110 | Morgan Stanley | 10/17/2025 | 2991 |
|  USD | 6324127 | GBP | 4692768 | State Street Bank & Trust | 10/17/2025 | 12262 |
|  **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** |  |  | 44299 |
|  CAD | 880375 | USD | 636886 | Goldman Sachs International | 10/17/2025 | (3809) |
|  CAD | 525395 | USD | 380423 | Merrill Lynch International | 10/17/2025 | (2612) |
|  CAD | 108486 | USD | 78657 | State Street Bank & Trust | 10/17/2025 | (645) |
|  CAD | 53951 | USD | 38857 | UBS AG | 10/17/2025 | (60) |
|  EUR | 41426 | USD | 48749 | HSBC Bank plc | 10/17/2025 | (67) |
|  EUR | 115938 | USD | 136584 | Morgan Stanley | 10/17/2025 | (337) |
|  EUR | 1684361 | USD | 1985554 | State Street Bank & Trust | 10/17/2025 | (6136) |
|  EUR | 497475 | USD | 587639 | UBS AG | 10/17/2025 | (3019) |
|  USD | 3976964 | EUR | 3395290 | HSBC Bank plc | 10/17/2025 | (13093) |
|  USD | 14646494 | EUR | 12505923 | Morgan Stanley | 10/17/2025 | (50143) |
|  USD | 137109 | GBP | 102083 | Morgan Stanley | 10/17/2025 | (194) |
|  **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** |  | (80115) |
|  **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** |  | (35816) |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $— | $665768 | $— | $665768 |
|  Industrials | 759494 |  |  | 759494 |
|  Utilities | 194057591 | 32092023 |  | 226149614 |
|  **Forward Currency Contracts** |  | 44299 |  | 44299 |
|  **Total Assets** | $**194817085** | $**32802090** | $**—** | $**227619175** |
|  **Liabilities:** |  |  |  |  |
|  **Forward Currency Contracts** | $— | $(80115) | $— | $(80115) |
|  **Total Liabilities** | $**—** | $**(80115)** | $**—** | $**(80115)** |
|  **Total** | $**194817085** | $**32721975** | $**—** | $**227539060** |

---

See Notes to Portfolio of Investments.

689

------

**EQ ADVISORS TRUST**

EQ/MFS UTILITIES SERIES PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $65952245 |
|  Aggregate gross unrealized depreciation | (3010087) |
|  Net unrealized appreciation | $62942158 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $164596902 |

---

See Notes to Portfolio of Investments.

690

------

**EQ ADVISORS TRUST** 

EQ/MID CAP INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (1.4%)** |  |  |
|  ***Diversified Telecommunication Services (0.3%)*** |  |  |
|  Frontier Communications Parent, Inc.\* | 203598 | $7604385 |
|  Iridium Communications, Inc. | 86310 | 1506973 |
|  |  | 9111358 |
|  ***Entertainment (0.2%)*** |  |  |
|  Warner Music Group Corp., Class A | 118660 | 4041559 |
|  ***Interactive Media & Services (0.1%)*** |  |  |
|  ZoomInfo Technologies, Inc., Class A\* | 228065 | 2488189 |
|  ***Media (0.8%)*** |  |  |
|  EchoStar Corp., Class A\* | 109379 | 8352180 |
|  New York Times Co. (The), Class A | 131797 | 7565148 |
|  Nexstar Media Group, Inc., Class A(x) | 23179 | 4583416 |
|  |  | 20500744 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 36141850 |
|  **Consumer Discretionary (12.2%)** |  |  |
|  ***Automobile Components (0.8%)*** |  |  |
|  Autoliv, Inc. | 57475 | 7098162 |
|  Gentex Corp. | 178526 | 5052286 |
|  Goodyear Tire & Rubber Co. (The)(x)\* | 232662 | 1740312 |
|  Lear Corp. | 43276 | 4353998 |
|  Visteon Corp. | 22186 | 2659214 |
|  |  | 20903972 |
|  ***Automobiles (0.3%)*** |  |  |
|  Harley-Davidson, Inc. | 98868 | 2758417 |
|  Thor Industries, Inc. | 43275 | 4487185 |
|  |  | 7245602 |
|  ***Broadline Retail (0.4%)*** |  |  |
|  Macy's, Inc.(x) | 220863 | 3960074 |
|  Ollie's Bargain Outlet Holdings, Inc.\* | 49893 | 6406261 |
|  |  | 10366335 |
|  ***Diversified Consumer Services (1.3%)*** |  |  |
|  Duolingo, Inc., Class A\* | 32287 | 10391248 |
|  Graham Holdings Co., Class B | 2762 | 3251730 |
|  Grand Canyon Education, Inc.\* | 22563 | 4953030 |
|  H&R Block, Inc. | 108894 | 5506769 |
|  Service Corp. International | 114067 | 9492656 |
|  |  | 33595433 |
|  ***Hotels, Restaurants & Leisure (2.9%)*** |  |  |
|  Aramark | 213795 | 8209728 |
|  Boyd Gaming Corp. | 48262 | 4172250 |
|  Cava Group, Inc.\* | 81110 | 4899855 |
|  Choice Hotels International, Inc.(x) | 16810 | 1797157 |
|  Churchill Downs, Inc. | 54185 | 5256487 |
|  Hilton Grand Vacations, Inc.\* | 50170 | 2097608 |
|  Hyatt Hotels Corp., Class A | 34436 | 4887502 |
|  Light & Wonder, Inc.(x)\* | 68280 | 5731423 |
|  Marriott Vacations Worldwide Corp. | 22515 | 1498598 |
|  Planet Fitness, Inc., Class A\* | 68256 | 7084973 |
|  Texas Roadhouse, Inc., Class A | 54049 | 8980241 |
|  Travel + Leisure Co. | 52804 | 3141310 |
|  Vail Resorts, Inc. | 30218 | 4519706 |
|  Wingstop, Inc.(x) | 22713 | 5716408 |
|  Wyndham Hotels & Resorts, Inc. | 62106 | 4962269 |
|  |  | 72955515 |
|  ***Household Durables (1.8%)*** |  |  |
|  KB Home | 55350 | 3522474 |
|  Somnigroup International, Inc. | 170717 | 14396565 |
|  Taylor Morrison Home Corp., Class A\* | 80396 | 5306940 |
|  Toll Brothers, Inc. | 79858 | 11031584 |
|  TopBuild Corp.\* | 22756 | 8894410 |
|  Whirlpool Corp.(x) | 45463 | 3573392 |
|  |  | 46725365 |
|  ***Leisure Products (0.5%)*** |  |  |
|  Brunswick Corp. | 53138 | 3360447 |
|  Mattel, Inc.\* | 262068 | 4410604 |
|  Polaris, Inc.(x) | 43445 | 2525458 |
|  YETI Holdings, Inc.\* | 66065 | 2192037 |
|  |  | 12488546 |
|  ***Specialty Retail (3.6%)*** |  |  |
|  Abercrombie & Fitch Co., Class A\* | 38751 | 3315148 |
|  AutoNation, Inc.\* | 23002 | 5032148 |
|  Bath & Body Works, Inc. | 172119 | 4433785 |
|  Burlington Stores, Inc.\* | 50682 | 12898569 |
|  Chewy, Inc., Class A\* | 181301 | 7333625 |
|  Dick's Sporting Goods, Inc. | 54380 | 12084324 |
|  Five Below, Inc.\* | 44783 | 6927930 |
|  Floor & Decor Holdings, Inc., Class A\* | 87593 | 6455604 |
|  GameStop Corp., Class A\* | 334742 | 9131762 |
|  Gap, Inc. (The) | 185099 | 3959268 |
|  Lithia Motors, Inc., Class A | 20852 | 6589232 |
|  Murphy USA, Inc. | 14279 | 5543964 |
|  Penske Automotive Group, Inc. | 15041 | 2615780 |
|  RH(x)\* | 12494 | 2538281 |
|  Valvoline, Inc.\* | 103392 | 3712807 |
|  |  | 92572227 |
|  ***Textiles, Apparel & Luxury Goods (0.6%)*** |  |  |
|  Capri Holdings Ltd.\* | 96830 | 1928854 |
|  Columbia Sportswear Co. | 20938 | 1095058 |
|  Crocs, Inc.\* | 44424 | 3711625 |
|  PVH Corp. | 39101 | 3275491 |
|  Under Armour, Inc., Class A\* | 153592 | 766424 |
|  Under Armour, Inc., Class C(x)\* | 98634 | 476402 |
|  VF Corp. | 266882 | 3851107 |
|  |  | 15104961 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 311957956 |
|  **Consumer Staples (4.7%)** |  |  |
|  ***Beverages (0.6%)*** |  |  |
|  Boston Beer Co., Inc. (The), Class A\* | 6432 | 1359854 |
|  Celsius Holdings, Inc.\* | 130080 | 7478299 |
|  Coca-Cola Consolidated, Inc. | 48749 | 5711433 |
|  |  | 14549586 |
|  ***Consumer Staples Distribution & Retail (2.9%)*** |  |  |
|  Albertsons Cos., Inc., Class A | 327861 | 5740846 |
|  BJ's Wholesale Club Holdings, Inc.\* | 107406 | 10015610 |
|  Casey's General Stores, Inc. | 30242 | 17096408 |
|  Maplebear, Inc.\* | 149991 | 5513669 |
|  Performance Food Group Co.\* | 127308 | 13245124 |
|  Sprouts Farmers Market, Inc.\* | 79488 | 8648294 |
|  US Foods Holding Corp.\* | 183149 | 14032876 |
|  |  | 74292827 |
|  ***Food Products (0.8%)*** |  |  |
|  Darling Ingredients, Inc.\* | 128664 | 3971858 |
|  Flowers Foods, Inc. | 171734 | 2241129 |
|  Ingredion, Inc. | 52203 | 6374508 |
|  Marzetti Co. (The) | 16594 | 2867277 |
|  Pilgrim's Pride Corp. | 34779 | 1416201 |
|  Post Holdings, Inc.\* | 38880 | 4178822 |
|  |  | 21049795 |
|  ***Personal Care Products (0.4%)*** |  |  |
|  BellRing Brands, Inc.\* | 102468 | 3724712 |

---

See Notes to Portfolio of Investments.

691

------

**EQ ADVISORS TRUST** 

EQ/MID CAP INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Coty, Inc., Class A\* | 297989 | $1203875 |
|  e.l.f. Beauty, Inc.\* | 48247 | 6391763 |
|  |  | 11320350 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 121212558 |
|  **Energy (4.0%)** |  |  |
|  ***Energy Equipment & Services (1.0%)*** |  |  |
|  NOV, Inc. | 302057 | 4002255 |
|  TechnipFMC plc | 334309 | 13188490 |
|  Valaris Ltd.\* | 53868 | 2627143 |
|  Weatherford International plc | 58428 | 3998228 |
|  |  | 23816116 |
|  ***Oil, Gas & Consumable Fuels (3.0%)*** |  |  |
|  Antero Midstream Corp. | 272439 | 5296214 |
|  Antero Resources Corp.\* | 238712 | 8011175 |
|  Chord Energy Corp. | 46572 | 4627860 |
|  Civitas Resources, Inc.(x) | 67830 | 2204475 |
|  CNX Resources Corp.\* | 115026 | 3694635 |
|  DT Midstream, Inc. | 82633 | 9342487 |
|  HF Sinclair Corp. | 129341 | 6769708 |
|  Matador Resources Co. | 95184 | 4276617 |
|  Murphy Oil Corp. | 109128 | 3100326 |
|  Ovintiv, Inc. | 209066 | 8442085 |
|  PBF Energy, Inc., Class A | 66815 | 2015809 |
|  Permian Resources Corp. | 533485 | 6828608 |
|  Range Resources Corp. | 193738 | 7292298 |
|  Viper Energy, Inc., Class A | 137231 | 5244969 |
|  |  | 77147266 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 100963382 |
|  **Financials (16.8%)** |  |  |
|  ***Banks (6.5%)*** |  |  |
|  Associated Banc-Corp. | 132887 | 3416525 |
|  Bank OZK | 86105 | 4389633 |
|  Cadence Bank | 151537 | 5688699 |
|  Columbia Banking System, Inc. | 243237 | 6260920 |
|  Comerica, Inc. | 104539 | 7163012 |
|  Commerce Bancshares, Inc. | 100938 | 6032055 |
|  Cullen/Frost Bankers, Inc. | 52320 | 6632606 |
|  East West Bancorp, Inc. | 112100 | 11933045 |
|  First Financial Bankshares, Inc. | 105921 | 3564242 |
|  First Horizon Corp. | 412988 | 9337659 |
|  Flagstar Financial, Inc. | 243371 | 2810935 |
|  FNB Corp. | 292117 | 4706005 |
|  Glacier Bancorp, Inc.(x) | 96426 | 4693053 |
|  Hancock Whitney Corp. | 68937 | 4316146 |
|  Home BancShares, Inc. | 149077 | 4218879 |
|  International Bancshares Corp. | 43984 | 3023900 |
|  Old National Bancorp | 283664 | 6226425 |
|  Pinnacle Financial Partners, Inc. | 62548 | 5866377 |
|  Prosperity Bancshares, Inc. | 77270 | 5126865 |
|  SouthState Bank Corp. | 82320 | 8138978 |
|  Synovus Financial Corp. | 112899 | 5541083 |
|  Texas Capital Bancshares, Inc.\* | 37216 | 3145869 |
|  UMB Financial Corp. | 58052 | 6870454 |
|  United Bankshares, Inc. | 114939 | 4276880 |
|  Valley National Bancorp | 391524 | 4150154 |
|  Webster Financial Corp. | 135173 | 8034683 |
|  Western Alliance Bancorp | 84201 | 7301911 |
|  Wintrust Financial Corp. | 54457 | 7212285 |
|  Zions Bancorp NA | 120073 | 6793730 |
|  |  | 166873008 |
|  ***Capital Markets (3.1%)*** |  |  |
|  Affiliated Managers Group, Inc. | 23109 | 5509879 |
|  Carlyle Group, Inc. (The) | 211825 | 13281428 |
|  Evercore, Inc., Class A | 31394 | 10589824 |
|  Federated Hermes, Inc., Class B | 60120 | 3122032 |
|  Hamilton Lane, Inc., Class A | 33023 | 4451170 |
|  Houlihan Lokey, Inc., Class A | 44222 | 9079661 |
|  Janus Henderson Group plc | 101495 | 4517542 |
|  Jefferies Financial Group, Inc. | 134226 | 8781065 |
|  Morningstar, Inc. | 19898 | 4616535 |
|  SEI Investments Co. | 76420 | 6484237 |
|  Stifel Financial Corp. | 83105 | 9429924 |
|  |  | 79863297 |
|  ***Consumer Finance (0.7%)*** |  |  |
|  Ally Financial, Inc. | 227830 | 8930936 |
|  FirstCash Holdings, Inc. | 31755 | 5030627 |
|  SLM Corp. | 169572 | 4693753 |
|  |  | 18655316 |
|  ***Financial Services (1.7%)*** |  |  |
|  Equitable Holdings, Inc.‡ | 243634 | 12371735 |
|  Essent Group Ltd. | 80145 | 5094016 |
|  Euronet Worldwide, Inc.(x)\* | 31344 | 2752317 |
|  MGIC Investment Corp. | 187501 | 5319403 |
|  Shift4 Payments, Inc., Class A(x)\* | 54733 | 4236334 |
|  Voya Financial, Inc. | 78424 | 5866115 |
|  Western Union Co. (The) | 262692 | 2098909 |
|  WEX, Inc.\* | 27869 | 4390204 |
|  |  | 42129033 |
|  ***Insurance (4.2%)*** |  |  |
|  American Financial Group, Inc. | 56299 | 8203890 |
|  Brighthouse Financial, Inc.\* | 46486 | 2467477 |
|  CNO Financial Group, Inc. | 78842 | 3118201 |
|  Fidelity National Financial, Inc. | 207751 | 12566858 |
|  First American Financial Corp. | 82125 | 5275710 |
|  Hanover Insurance Group, Inc. (The) | 29095 | 5284525 |
|  Kemper Corp. | 51033 | 2630751 |
|  Kinsale Capital Group, Inc. | 18004 | 7656381 |
|  Old Republic International Corp. | 185930 | 7896447 |
|  Primerica, Inc. | 26346 | 7313386 |
|  Reinsurance Group of America, Inc. | 53759 | 10328717 |
|  RenaissanceRe Holdings Ltd. | 38282 | 9720948 |
|  RLI Corp. | 74691 | 4871347 |
|  Ryan Specialty Holdings, Inc., Class A(x) | 91647 | 5165225 |
|  Selective Insurance Group, Inc. | 49494 | 4012479 |
|  Unum Group | 127445 | 9912672 |
|  |  | 106425014 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.6%)*** |  |  |
|  Annaly Capital Management, Inc. (REIT) | 522247 | 10554612 |
|  Starwood Property Trust, Inc. (REIT) | 280703 | 5437217 |
|  |  | 15991829 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 429937497 |
|  **Health Care (8.6%)** |  |  |
|  ***Biotechnology (2.4%)*** |  |  |
|  BioMarin Pharmaceutical, Inc.\* | 156179 | 8458655 |
|  Cytokinetics, Inc.\* | 97326 | 5349037 |
|  Exelixis, Inc.\* | 218962 | 9043131 |
|  Halozyme Therapeutics, Inc.\* | 95137 | 6977347 |
|  Neurocrine Biosciences, Inc.\* | 80672 | 11324735 |
|  Roivant Sciences Ltd.\* | 349925 | 5294365 |
|  United Therapeutics Corp.\* | 36786 | 15421059 |
|  |  | 61868329 |
|  ***Health Care Equipment & Supplies (1.2%)*** |  |  |
|  Dentsply Sirona, Inc. | 162255 | 2059016 |
|  Envista Holdings Corp.\* | 135168 | 2753372 |
|  Globus Medical, Inc., Class A\* | 91608 | 5246390 |
|  Haemonetics Corp.\* | 39186 | 1909926 |
|  Lantheus Holdings, Inc.\* | 55304 | 2836542 |
|  LivaNova plc\* | 44411 | 2326248 |
|  Masimo Corp.\* | 37558 | 5541683 |

---

See Notes to Portfolio of Investments.

692

------

**EQ ADVISORS TRUST** 

EQ/MID CAP INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Penumbra, Inc.\* | 31721 | $8035564 |
|  |  | 30708741 |
|  ***Health Care Providers & Services (2.3%)*** |  |  |
|  Chemed Corp. | 11852 | 5306614 |
|  Encompass Health Corp. | 81926 | 10406240 |
|  Ensign Group, Inc. (The) | 46597 | 8050564 |
|  HealthEquity, Inc.\* | 70336 | 6665743 |
|  Hims & Hers Health, Inc.\* | 168172 | 9538716 |
|  Option Care Health, Inc.\* | 132006 | 3664487 |
|  Tenet Healthcare Corp.\* | 71862 | 14590860 |
|  |  | 58223224 |
|  ***Health Care Technology (0.3%)*** |  |  |
|  Doximity, Inc., Class A\* | 110944 | 8115554 |
|  ***Life Sciences Tools & Services (1.7%)*** |  |  |
|  Avantor, Inc.\* | 554507 | 6920247 |
|  Bio-Rad Laboratories, Inc., Class A\* | 14847 | 4162950 |
|  Bruker Corp. | 90085 | 2926862 |
|  Illumina, Inc.\* | 125015 | 11872675 |
|  Medpace Holdings, Inc.\* | 18052 | 9281616 |
|  Repligen Corp.\* | 43013 | 5749548 |
|  Sotera Health Co.\* | 143242 | 2253197 |
|  |  | 43167095 |
|  ***Pharmaceuticals (0.7%)*** |  |  |
|  Elanco Animal Health, Inc.(x)\* | 404094 | 8138453 |
|  Jazz Pharmaceuticals plc\* | 49338 | 6502748 |
|  Perrigo Co. plc | 111906 | 2492147 |
|  |  | 17133348 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 219216291 |
|  **Industrials (22.8%)** |  |  |
|  ***Aerospace & Defense (3.0%)*** |  |  |
|  AeroVironment, Inc.\* | 25877 | 8148409 |
|  ATI, Inc.\* | 112109 | 9118946 |
|  BWX Technologies, Inc. | 74341 | 13706250 |
|  Curtiss-Wright Corp. | 30646 | 16638939 |
|  Hexcel Corp. | 64714 | 4057568 |
|  Kratos Defense & Security Solutions, Inc.\* | 137293 | 12544461 |
|  Woodward, Inc. | 48775 | 12325930 |
|  |  | 76540503 |
|  ***Air Freight & Logistics (0.2%)*** |  |  |
|  GXO Logistics, Inc.\* | 93109 | 4924535 |
|  ***Building Products (2.1%)*** |  |  |
|  AAON, Inc. | 55041 | 5143031 |
|  Advanced Drainage Systems, Inc. | 58183 | 8069982 |
|  Carlisle Cos., Inc. | 34691 | 11411951 |
|  Fortune Brands Innovations, Inc. | 97636 | 5212786 |
|  Owens Corning | 68021 | 9622251 |
|  Simpson Manufacturing Co., Inc. | 33850 | 5668521 |
|  Trex Co., Inc.\* | 87221 | 4506709 |
|  UFP Industries, Inc. | 47636 | 4453490 |
|  |  | 54088721 |
|  ***Commercial Services & Supplies (1.6%)*** |  |  |
|  Brink's Co. (The) | 33887 | 3960035 |
|  Clean Harbors, Inc.\* | 41006 | 9522413 |
|  MSA Safety, Inc. | 29928 | 5149711 |
|  RB Global, Inc. | 150961 | 16358134 |
|  Tetra Tech, Inc. | 213732 | 7134374 |
|  |  | 42124667 |
|  ***Construction & Engineering (2.8%)*** |  |  |
|  AECOM | 107728 | 14055272 |
|  API Group Corp.\* | 301061 | 10347467 |
|  Comfort Systems USA, Inc. | 28632 | 23626554 |
|  Fluor Corp.\* | 131493 | 5531910 |
|  MasTec, Inc.\* | 49865 | 10611771 |
|  Valmont Industries, Inc. | 16054 | 6224617 |
|  |  | 70397591 |
|  ***Electrical Equipment (1.8%)*** |  |  |
|  Acuity, Inc. | 24682 | 8500234 |
|  EnerSys | 30475 | 3442456 |
|  NEXTracker, Inc., Class A\* | 120350 | 8904697 |
|  nVent Electric plc | 130910 | 12912962 |
|  Regal Rexnord Corp. | 53987 | 7743895 |
|  Sensata Technologies Holding plc | 118459 | 3618923 |
|  |  | 45123167 |
|  ***Ground Transportation (1.4%)*** |  |  |
|  Avis Budget Group, Inc.(x)\* | 13740 | 2206300 |
|  Knight-Swift Transportation Holdings, Inc., Class A | 132012 | 5215794 |
|  Landstar System, Inc. | 28187 | 3454599 |
|  Ryder System, Inc. | 33178 | 6258698 |
|  Saia, Inc.\* | 21665 | 6485634 |
|  XPO, Inc.\* | 95784 | 12381998 |
|  |  | 36003023 |
|  ***Machinery (5.1%)*** |  |  |
|  AGCO Corp. | 50376 | 5393758 |
|  Chart Industries, Inc.\* | 35939 | 7193191 |
|  CNH Industrial NV | 722340 | 7837389 |
|  Crane Co. | 39786 | 7326194 |
|  Donaldson Co., Inc. | 94774 | 7757252 |
|  Esab Corp. | 46409 | 5185742 |
|  Flowserve Corp. | 106374 | 5652714 |
|  Graco, Inc. | 134771 | 11450144 |
|  ITT, Inc. | 63443 | 11341071 |
|  Lincoln Electric Holdings, Inc. | 44887 | 10585701 |
|  Middleby Corp. (The)\* | 37925 | 5041370 |
|  Mueller Industries, Inc. | 90041 | 9104046 |
|  Oshkosh Corp. | 52056 | 6751663 |
|  RBC Bearings, Inc.\* | 25564 | 9977374 |
|  Terex Corp. | 53357 | 2737214 |
|  Timken Co. (The) | 51547 | 3875303 |
|  Toro Co. (The) | 80268 | 6116422 |
|  Watts Water Technologies, Inc., Class A | 22299 | 6227665 |
|  |  | 129554213 |
|  ***Marine Transportation (0.1%)*** |  |  |
|  Kirby Corp.\* | 45386 | 3787462 |
|  ***Passenger Airlines (0.4%)*** |  |  |
|  Alaska Air Group, Inc.\* | 93790 | 4668866 |
|  American Airlines Group, Inc.\* | 536686 | 6032351 |
|  |  | 10701217 |
|  ***Professional Services (2.6%)*** |  |  |
|  CACI International, Inc., Class A\* | 17888 | 8922177 |
|  Concentrix Corp.(x) | 36397 | 1679722 |
|  ExlService Holdings, Inc.\* | 131370 | 5784221 |
|  Exponent, Inc. | 41076 | 2853961 |
|  FTI Consulting, Inc.\* | 25822 | 4174126 |
|  Genpact Ltd. | 131824 | 5522107 |
|  Insperity, Inc. | 29111 | 1432261 |
|  KBR, Inc. | 104796 | 4955803 |
|  Maximus, Inc. | 45833 | 4187761 |
|  Parsons Corp.(x)\* | 43432 | 3601382 |
|  Paylocity Holding Corp.\* | 36342 | 5788190 |
|  Science Applications International Corp. | 38125 | 3788481 |
|  TransUnion | 158445 | 13274522 |
|  |  | 65964714 |
|  ***Trading Companies & Distributors (1.7%)*** |  |  |
|  Applied Industrial Technologies, Inc. | 30977 | 8086546 |
|  Core & Main, Inc., Class A\* | 154259 | 8303762 |
|  GATX Corp. | 28956 | 5061509 |

---

See Notes to Portfolio of Investments.

693

------

**EQ ADVISORS TRUST** 

EQ/MID CAP INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  MSC Industrial Direct Co., Inc., Class A | 37134 | $3421527 |
|  Watsco, Inc. | 28389 | 11477672 |
|  WESCO International, Inc. | 39581 | 8371381 |
|  |  | 44722397 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 583932210 |
|  **Information Technology (13.2%)** |  |  |
|  ***Communications Equipment (1.0%)*** |  |  |
|  Ciena Corp.\* | 114984 | 16749719 |
|  Lumentum Holdings, Inc.\* | 56773 | 9237535 |
|  |  | 25987254 |
|  ***Electronic Equipment, Instruments & Components (3.4%)*** |  |  |
|  Arrow Electronics, Inc.\* | 41890 | 5068690 |
|  Avnet, Inc. | 68207 | 3565862 |
|  Belden, Inc. | 32226 | 3875821 |
|  Cognex Corp. | 136564 | 6186349 |
|  Coherent Corp.\* | 126431 | 13619147 |
|  Crane NXT Co. | 40164 | 2693799 |
|  Fabrinet\* | 29144 | 10626485 |
|  Flex Ltd.\* | 305279 | 17697024 |
|  IPG Photonics Corp.\* | 20604 | 1631631 |
|  Littelfuse, Inc. | 20157 | 5220865 |
|  Novanta, Inc.\* | 29260 | 2930389 |
|  TD SYNNEX Corp. | 62381 | 10214889 |
|  Vontier Corp. | 119321 | 5007902 |
|  |  | 88338853 |
|  ***IT Services (1.3%)*** |  |  |
|  ASGN, Inc.\* | 35626 | 1686891 |
|  Kyndryl Holdings, Inc.\* | 188006 | 5645820 |
|  Okta, Inc.\* | 135966 | 12468082 |
|  Twilio, Inc., Class A\* | 124799 | 12491132 |
|  |  | 32291925 |
|  ***Semiconductors & Semiconductor Equipment (2.8%)*** |  |  |
|  Allegro MicroSystems, Inc.\* | 100870 | 2945404 |
|  Amkor Technology, Inc. | 92469 | 2626120 |
|  Cirrus Logic, Inc.\* | 41752 | 5231108 |
|  Entegris, Inc. | 123307 | 11400965 |
|  Lattice Semiconductor Corp.\* | 111347 | 8163962 |
|  MACOM Technology Solutions Holdings, Inc.\* | 52092 | 6484933 |
|  MKS, Inc. | 54625 | 6760936 |
|  Onto Innovation, Inc.\* | 39858 | 5150451 |
|  Power Integrations, Inc. | 45627 | 1834662 |
|  Rambus, Inc.\* | 87514 | 9118959 |
|  Silicon Laboratories, Inc.\* | 26691 | 3499991 |
|  Synaptics, Inc.\* | 31351 | 2142527 |
|  Universal Display Corp. | 35956 | 5164360 |
|  |  | 70524378 |
|  ***Software (3.9%)*** |  |  |
|  Appfolio, Inc., Class A\* | 18603 | 5128103 |
|  BILL Holdings, Inc.\* | 74581 | 3950556 |
|  Blackbaud, Inc.\* | 30259 | 1945956 |
|  Commvault Systems, Inc.\* | 36162 | 6826662 |
|  Docusign, Inc.\* | 164352 | 11848136 |
|  Dolby Laboratories, Inc., Class A | 49765 | 3601493 |
|  Dropbox, Inc., Class A\* | 150539 | 4547783 |
|  Dynatrace, Inc.\* | 245236 | 11881684 |
|  Guidewire Software, Inc.\* | 68482 | 15741273 |
|  Manhattan Associates, Inc.\* | 49184 | 10081736 |
|  Nutanix, Inc., Class A\* | 218046 | 16220442 |
|  Pegasystems, Inc.(x) | 75142 | 4320665 |
|  Qualys, Inc.\* | 29359 | 3885077 |
|  |  | 99979566 |
|  ***Technology Hardware, Storage & Peripherals (0.8%)*** |  |  |
|  Pure Storage, Inc., Class A\* | 252545 | 21165797 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 338287773 |
|  **Materials (5.4%)** |  |  |
|  ***Chemicals (1.4%)*** |  |  |
|  Ashland, Inc. | 37176 | 1781102 |
|  Avient Corp. | 74457 | 2453358 |
|  Axalta Coating Systems Ltd.\* | 176155 | 5041556 |
|  Cabot Corp. | 43275 | 3291064 |
|  NewMarket Corp. | 6344 | 5254164 |
|  Olin Corp. | 93247 | 2330243 |
|  RPM International, Inc. | 104417 | 12308676 |
|  Scotts Miracle-Gro Co. (The) | 36162 | 2059426 |
|  Westlake Corp. | 27121 | 2089944 |
|  |  | 36609533 |
|  ***Construction Materials (0.4%)*** |  |  |
|  Eagle Materials, Inc. | 26393 | 6150625 |
|  Knife River Corp.(x)\* | 46089 | 3542861 |
|  |  | 9693486 |
|  ***Containers & Packaging (1.1%)*** |  |  |
|  AptarGroup, Inc. | 53586 | 7162305 |
|  Crown Holdings, Inc. | 93574 | 9038313 |
|  Graphic Packaging Holding Co. | 240960 | 4715587 |
|  Greif, Inc., Class A | 21253 | 1270079 |
|  Silgan Holdings, Inc. | 72231 | 3106655 |
|  Sonoco Products Co. | 80224 | 3456852 |
|  |  | 28749791 |
|  ***Metals & Mining (2.3%)*** |  |  |
|  Alcoa Corp. | 210594 | 6926437 |
|  Carpenter Technology Corp. | 40547 | 9955910 |
|  Cleveland-Cliffs, Inc.\* | 402371 | 4908926 |
|  Commercial Metals Co. | 91041 | 5214829 |
|  MP Materials Corp.\* | 109475 | 7342488 |
|  Reliance, Inc. | 42778 | 12013346 |
|  Royal Gold, Inc. | 53545 | 10740056 |
|  |  | 57101992 |
|  ***Paper & Forest Products (0.2%)*** |  |  |
|  Louisiana-Pacific Corp. | 51546 | 4579347 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 136734149 |
|  **Real Estate (6.6%)** |  |  |
|  ***Diversified REITs (0.5%)*** |  |  |
|  WP Carey, Inc. (REIT) | 178121 | 12035636 |
|  ***Health Care REITs (0.7%)*** |  |  |
|  Healthcare Realty Trust, Inc. (REIT), Class A(x) | 285987 | 5156346 |
|  Omega Healthcare Investors, Inc. (REIT) | 239945 | 10130478 |
|  Sabra Health Care REIT, Inc. (REIT) | 195040 | 3635545 |
|  |  | 18922369 |
|  ***Hotel & Resort REITs (0.1%)*** |  |  |
|  Park Hotels & Resorts, Inc. (REIT)(x) | 162603 | 1801641 |
|  ***Industrial REITs (1.0%)*** |  |  |
|  EastGroup Properties, Inc. (REIT) | 43319 | 7332174 |
|  First Industrial Realty Trust, Inc. (REIT) | 107694 | 5543010 |
|  Rexford Industrial Realty, Inc. (REIT) | 192060 | 7895586 |
|  STAG Industrial, Inc. (REIT) | 151854 | 5358928 |
|  |  | 26129698 |
|  ***Office REITs (0.6%)*** |  |  |
|  COPT Defense Properties (REIT) | 91656 | 2663524 |
|  Cousins Properties, Inc. (REIT) | 136620 | 3953783 |

---

See Notes to Portfolio of Investments.

694

------

**EQ ADVISORS TRUST** 

EQ/MID CAP INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Kilroy Realty Corp. (REIT)(x) | 88520 | $3739970 |
|  Vornado Realty Trust (REIT) | 131208 | 5317860 |
|  |  | 15675137 |
|  ***Real Estate Management & Development (0.5%)*** |  |  |
|  Jones Lang LaSalle, Inc.\* | 38538 | 11495115 |
|  ***Residential REITs (0.8%)*** |  |  |
|  American Homes 4 Rent (REIT), Class A | 265030 | 8812248 |
|  Equity LifeStyle Properties, Inc. (REIT) | 157623 | 9567716 |
|  Independence Realty Trust, Inc. (REIT) | 189860 | 3111805 |
|  |  | 21491769 |
|  ***Retail REITs (0.9%)*** |  |  |
|  Agree Realty Corp. (REIT) | 89853 | 6383157 |
|  Brixmor Property Group, Inc. (REIT) | 248973 | 6891573 |
|  Kite Realty Group Trust (REIT) | 178826 | 3987820 |
|  NNN REIT, Inc. (REIT) | 153550 | 6536623 |
|  |  | 23799173 |
|  ***Specialized REITs (1.5%)*** |  |  |
|  CubeSmart (REIT) | 185477 | 7541495 |
|  EPR Properties (REIT) | 61911 | 3591457 |
|  Gaming and Leisure Properties, Inc. (REIT) | 230191 | 10729203 |
|  Lamar Advertising Co. (REIT), Class A | 71484 | 8751071 |
|  National Storage Affiliates Trust (REIT) | 57425 | 1735383 |
|  PotlatchDeltic Corp. (REIT) | 57833 | 2356695 |
|  Rayonier, Inc. (REIT) | 115358 | 3061601 |
|  |  | 37766905 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 169117443 |
|  **Utilities (3.5%)** |  |  |
|  ***Electric Utilities (1.0%)*** |  |  |
|  ALLETE, Inc. | 47095 | 3127108 |
|  IDACORP, Inc. | 43949 | 5807860 |
|  OGE Energy Corp. | 163809 | 7579442 |
|  Portland General Electric Co. | 89115 | 3921060 |
|  TXNM Energy, Inc. | 77141 | 4362324 |
|  |  | 24797794 |
|  ***Gas Utilities (1.1%)*** |  |  |
|  National Fuel Gas Co. | 73499 | 6789103 |
|  New Jersey Resources Corp. | 80876 | 3894179 |
|  ONE Gas, Inc. | 48801 | 3949953 |
|  Southwest Gas Holdings, Inc. | 52106 | 4081984 |
|  Spire, Inc. | 48009 | 3913694 |
|  UGI Corp. | 174813 | 5814280 |
|  |  | 28443193 |
|  ***Independent Power and Renewable Electricity Producers (0.8%)*** |  |  |
|  Ormat Technologies, Inc. | 49390 | 4753788 |
|  Talen Energy Corp.\* | 37159 | 15806695 |
|  |  | 20560483 |
|  ***Multi-Utilities (0.3%)*** |  |  |
|  Black Hills Corp. | 59256 | 3649577 |
|  Northwestern Energy Group, Inc. | 49935 | 2926690 |
|  |  | 6576267 |
|  ***Water Utilities (0.3%)*** |  |  |
|  Essential Utilities, Inc. | 228125 | 9102188 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 89479925 |
|  **Total Common Stocks (99.2%)**<br> *(Cost $1,635,159,748)* |  | 2536981034 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.6%**) |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 16095039 | 16095039 |
|  **Total Short-Term Investments (0.6%)**<br> *(Cost $16,095,039)* |  | 16095039 |
|  **Total Investments in Securities (99.8%)**<br> *(Cost $1,651,254,787)* |  | 2553076073 |
|  **Other Assets Less Liabilities (0.2%)** |  | 5993069 |
|  **Net Assets (100%)** |  | $2559069142 |

---

*\** *Non-income producing.* 

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

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $50,943,001. This was collateralized by $36,307,417 of various U.S. Government Treasury Securities, ranging from 0.000% – 4.875%, maturing 10/9/25 – 5/15/55 and by cash of $16,095,039 which was subsequently invested in investment companies.* 

*Glossary:* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

695

------

**EQ ADVISORS TRUST** 

EQ/MID CAP INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases<br>at**<br>**Cost ($)** | **Proceeds<br>from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  COMMON STOCKS: |  |  |  |  |  |  |  |  |  |
|  **Financials** |  |  |  |  |  |  |  |  |  |
|  **Financial Services** |  |  |  |  |  |  |  |  |  |
|  Equitable Holdings, Inc. | 243634 | 12682598 |  | (1338651) | 479617 | 548171 | 12371735 | 202437 |  |

---

See Notes to Portfolio of Investments.

696

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**EQ ADVISORS TRUST** 

EQ/MID CAP INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  S&P Midcap 400 E-Mini Index | 65 | 12/2025 | USD | 21360300 | (394472) |
|  |  |  |  |  | (394472) |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $36141850 | $— | $— | $36141850 |
|  Consumer Discretionary | 311957956 |  |  | 311957956 |
|  Consumer Staples | 121212558 |  |  | 121212558 |
|  Energy | 100963382 |  |  | 100963382 |
|  Financials | 429937497 |  |  | 429937497 |
|  Health Care | 219216291 |  |  | 219216291 |
|  Industrials | 583932210 |  |  | 583932210 |
|  Information Technology | 338287773 |  |  | 338287773 |
|  Materials | 136734149 |  |  | 136734149 |
|  Real Estate | 169117443 |  |  | 169117443 |
|  Utilities | 89479925 |  |  | 89479925 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 16095039 |  |  | 16095039 |
|  **Total Assets** | $**2553076073** | $**—** | $**—** | $**2553076073** |
|  **Liabilities:** |  |  |  |  |
|  **Futures** | $(394472) | $— | $— | $(394472) |
|  **Total Liabilities** | $**(394472)** | $**—** | $**—** | $**(394472)** |
|  **Total** | $**2552681601** | $**—** | $**—** | $**2552681601** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $1047307663 |
|  Aggregate gross unrealized depreciation | (145987389) |
|  Net unrealized appreciation | $901320274 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1651361327 |

---

See Notes to Portfolio of Investments.

697

------

**EQ ADVISORS TRUST** 

EQ/MID CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (2.2%)** |  |  |
|  ***Diversified Telecommunication Services (0.1%)*** |  |  |
|  AST SpaceMobile, Inc., Class A(x)\* | 1075 | $52761 |
|  Frontier Communications Parent, Inc.\* | 19909 | 743601 |
|  GCI Liberty, Inc., Class A\* | 259 | 9727 |
|  GCI Liberty, Inc., Class C\* | 1409 | 52513 |
|  Iridium Communications, Inc. | 7195 | 125625 |
|  Liberty Global Ltd., Class A\* | 14469 | 165815 |
|  Liberty Global Ltd., Class C\* | 10858 | 127581 |
|  |  | 1277623 |
|  ***Entertainment (1.2%)*** |  |  |
|  Electronic Arts, Inc. | 20559 | 4146750 |
|  Liberty Media Corp.-Liberty |  |  |
|  Formula One, Class A\* | 1427 | 135879 |
|  Liberty Media Corp.-Liberty |  |  |
|  Formula One, Class C\* | 48789 | 5096011 |
|  Liberty Media Corp.-Liberty Live, Class A\* | 1537 | 144939 |
|  Liberty Media Corp.-Liberty Live, Class C\* | 3781 | 366644 |
|  Madison Square Garden Sports Corp.\* | 1313 | 298051 |
|  Roku, Inc.\* | 9079 | 909080 |
|  Take-Two Interactive Software, Inc.\* | 9844 | 2543296 |
|  TKO Group Holdings, Inc., Class A | 3254 | 657178 |
|  Warner Bros Discovery, Inc.\* | 190136 | 3713356 |
|  |  | 18011184 |
|  ***Interactive Media & Services (0.3%)*** |  |  |
|  Cargurus, Inc., Class A\* | 68303 | 2542921 |
|  IAC, Inc.\* | 5458 | 185954 |
|  Match Group, Inc. | 20231 | 714559 |
|  Pinterest, Inc., Class A\* | 24477 | 787425 |
|  Trump Media & Technology Group Corp.(x)\* | 5880 | 96550 |
|  ZoomInfo Technologies, Inc., Class A\* | 24862 | 271244 |
|  |  | 4598653 |
|  ***Media (0.6%)*** |  |  |
|  Charter Communications, Inc., Class A\* | 7211 | 1983782 |
|  DoubleVerify Holdings, Inc.\* | 6100 | 73078 |
|  Fox Corp., Class A | 17374 | 1095605 |
|  Fox Corp., Class B | 12122 | 694469 |
|  Interpublic Group of Cos., Inc. (The) | 30576 | 853376 |
|  Liberty Broadband Corp., Class A\* | 1297 | 82139 |
|  Liberty Broadband Corp., Class C\* | 7045 | 447639 |
|  New York Times Co. (The), Class A | 13066 | 749988 |
|  News Corp., Class A | 30861 | 947741 |
|  News Corp., Class B | 10222 | 353170 |
|  Nexstar Media Group, Inc., Class A | 2183 | 431667 |
|  NIQ Global Intelligence plc(x)\* | 1747 | 27428 |
|  Omnicom Group, Inc. | 15843 | 1291680 |
|  Sirius XM Holdings, Inc. | 15569 | 362369 |
|  |  | 9394131 |
|  ***Wireless Telecommunication Services (0.0%)†*** |  |  |
|  Millicom International Cellular SA | 8403 | 407881 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 33689472 |
|  **Consumer Discretionary (7.6%)** |  |  |
|  ***Automobile Components (0.6%)*** |  |  |
|  Aptiv plc\* | 17741 | 1529629 |
|  BorgWarner, Inc. | 17652 | 775982 |
|  Gentex Corp. | 18190 | 514777 |
|  Goodyear Tire & Rubber Co. (The)\* | 186499 | 1395013 |
|  Lear Corp. | 28353 | 2852595 |
|  Modine Manufacturing Co.\* | 15520 | 2206323 |
|  QuantumScape Corp., Class A(x)\* | 34760 | 428243 |
|  |  | 9702562 |
|  ***Automobiles (0.4%)*** |  |  |
|  Ford Motor Co. | 321331 | 3843119 |
|  Harley-Davidson, Inc.(x) | 8727 | 243483 |
|  Lucid Group, Inc., Class A(x)\* | 10189 | 242396 |
|  Rivian Automotive, Inc., Class A(x)\* | 63834 | 937083 |
|  Thor Industries, Inc. | 4269 | 442653 |
|  |  | 5708734 |
|  ***Broadline Retail (0.3%)*** |  |  |
|  Dillard's, Inc., Class A(x) | 257 | 157921 |
|  eBay, Inc. | 38009 | 3456919 |
|  Etsy, Inc.\* | 3471 | 230440 |
|  Macy's, Inc.(x) | 21889 | 392470 |
|  Ollie's Bargain Outlet Holdings, Inc.\* | 4956 | 636350 |
|  |  | 4874100 |
|  ***Distributors (0.2%)*** |  |  |
|  Genuine Parts Co. | 11431 | 1584336 |
|  LKQ Corp. | 21233 | 648456 |
|  Pool Corp. | 2400 | 744168 |
|  |  | 2976960 |
|  ***Diversified Consumer Services (0.3%)*** |  |  |
|  ADT, Inc. | 41552 | 361918 |
|  Bright Horizons Family Solutions, Inc.\* | 3892 | 422554 |
|  Grand Canyon Education, Inc.\* | 1621 | 355842 |
|  H&R Block, Inc. | 9140 | 462210 |
|  OneSpaWorld Holdings Ltd. | 99059 | 2094107 |
|  Service Corp. International | 11416 | 950040 |
|  |  | 4646671 |
|  ***Hotels, Restaurants & Leisure (1.6%)*** |  |  |
|  Aramark | 21230 | 815232 |
|  Boyd Gaming Corp. | 4792 | 414268 |
|  Brightstar Lottery plc(x) | 109682 | 1892014 |
|  Caesars Entertainment, Inc.\* | 16948 | 458020 |
|  Carnival Corp.\* | 60872 | 1759810 |
|  Choice Hotels International, Inc.(x) | 1497 | 160044 |
|  Churchill Downs, Inc. | 829 | 80421 |
|  Darden Restaurants, Inc. | 485 | 92325 |
|  Domino's Pizza, Inc. | 1820 | 785712 |
|  Flutter Entertainment plc, Class DI\* | 2402 | 610108 |
|  Hyatt Hotels Corp., Class A | 3310 | 469788 |
|  MGM Resorts International\* | 16876 | 584922 |
|  Norwegian Cruise Line Holdings Ltd.\* | 3514 | 86550 |
|  Penn Entertainment, Inc.\* | 11270 | 217060 |
|  Red Rock Resorts, Inc., Class A | 132894 | 8114508 |
|  Restaurant Brands International, Inc. | 9649 | 618887 |
|  Travel + Leisure Co. | 3499 | 208156 |
|  Vail Resorts, Inc.(x) | 448 | 67007 |
|  Wendy's Co. (The) | 6642 | 60841 |
|  Wyndham Hotels & Resorts, Inc. | 40286 | 3218851 |
|  Wynn Resorts Ltd. | 6703 | 859794 |
|  Yum! Brands, Inc. | 15052 | 2287904 |
|  |  | 23862222 |
|  ***Household Durables (1.7%)*** |  |  |
|  Century Communities, Inc. | 49565 | 3140934 |
|  DR Horton, Inc. | 21744 | 3684956 |
|  Garmin Ltd. | 13419 | 3304026 |
|  Lennar Corp., Class A | 18081 | 2278929 |
|  Lennar Corp., Class B | 1024 | 122870 |
|  Mohawk Industries, Inc.\* | 4191 | 540304 |
|  Newell Brands, Inc. | 32452 | 170049 |
|  NVR, Inc.\* | 789 | 6339347 |

---

See Notes to Portfolio of Investments.

698

------

**EQ ADVISORS TRUST** 

EQ/MID CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  PulteGroup, Inc. | 15979 | $2111305 |
|  SharkNinja, Inc.\* | 5583 | 575886 |
|  Somnigroup International, Inc. | 27326 | 2304402 |
|  Toll Brothers, Inc. | 7958 | 1099318 |
|  TopBuild Corp.\* | 2161 | 844648 |
|  Whirlpool Corp.(x) | 4442 | 349141 |
|  |  | 26866115 |
|  ***Leisure Products (0.3%)*** |  |  |
|  Brunswick Corp. | 5123 | 323979 |
|  Hasbro, Inc. | 10876 | 824945 |
|  Malibu Boats, Inc., Class A\* | 79280 | 2572636 |
|  Mattel, Inc.\* | 25182 | 423813 |
|  YETI Holdings, Inc.\* | 6719 | 222936 |
|  |  | 4368309 |
|  ***Specialty Retail (1.7%)*** |  |  |
|  AutoNation, Inc.\* | 2259 | 494201 |
|  Bath & Body Works, Inc. | 62996 | 1622777 |
|  Best Buy Co., Inc. | 15617 | 1180957 |
|  Boot Barn Holdings, Inc.\* | 8669 | 1436627 |
|  CarMax, Inc.\* | 39157 | 1756975 |
|  Dick's Sporting Goods, Inc. | 23125 | 5138837 |
|  Five Below, Inc.\* | 16127 | 2494847 |
|  Floor & Decor Holdings, Inc., Class A\* | 5964 | 439547 |
|  GameStop Corp., Class A\* | 33024 | 900895 |
|  Gap, Inc. (The) | 18952 | 405383 |
|  Lithia Motors, Inc., Class A | 1873 | 591868 |
|  Penske Automotive Group, Inc. | 1415 | 246083 |
|  RH(x)\* | 1008 | 204785 |
|  Ross Stores, Inc. | 21037 | 3205828 |
|  Ulta Beauty, Inc.\* | 2741 | 1498642 |
|  Valvoline, Inc.\* | 85360 | 3065278 |
|  Wayfair, Inc., Class A(x)\* | 6339 | 566263 |
|  Williams-Sonoma, Inc. | 8177 | 1598195 |
|  |  | 26847988 |
|  ***Textiles, Apparel & Luxury Goods (0.5%)*** |  |  |
|  Amer Sports, Inc.\* | 12278 | 426660 |
|  Birkenstock Holding plc(x)\* | 3089 | 139777 |
|  Columbia Sportswear Co. | 2129 | 111347 |
|  Crocs, Inc.(x)\* | 4484 | 374638 |
|  Lululemon Athletica, Inc.\* | 3673 | 653537 |
|  PVH Corp. | 3882 | 325195 |
|  Ralph Lauren Corp. | 2862 | 897409 |
|  Steven Madden Ltd.(x) | 119386 | 3997043 |
|  Tapestry, Inc. | 1440 | 163037 |
|  Under Armour, Inc., Class A\* | 17963 | 89635 |
|  Under Armour, Inc., Class C\* | 12650 | 61100 |
|  VF Corp. | 27933 | 403073 |
|  |  | 7642451 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 117496112 |
|  **Consumer Staples (4.2%)** |  |  |
|  ***Beverages (0.2%)*** |  |  |
|  Boston Beer Co., Inc. (The), Class A\* | 660 | 139537 |
|  Brown-Forman Corp., Class A | 4010 | 107909 |
|  Brown-Forman Corp., Class B | 11837 | 320546 |
|  Coca-Cola Consolidated, Inc. | 3706 | 434195 |
|  Constellation Brands, Inc., Class A | 11804 | 1589645 |
|  Molson Coors Beverage Co., Class B | 13842 | 626351 |
|  Primo Brands Corp. | 21111 | 466553 |
|  |  | 3684736 |
|  ***Consumer Staples Distribution & Retail (1.2%)*** |  |  |
|  Albertsons Cos., Inc., Class A | 34163 | 598194 |
|  BJ's Wholesale Club Holdings, Inc.\* | 9171 | 855196 |
|  Casey's General Stores, Inc. | 2568 | 1451742 |
|  Dollar General Corp. | 18092 | 1869808 |
|  Dollar Tree, Inc.\* | 16112 | 1520489 |
|  Kroger Co. (The) | 49565 | 3341177 |
|  Maplebear, Inc.\* | 13982 | 513978 |
|  Performance Food Group Co.\* | 15282 | 1589939 |
|  Sysco Corp. | 18272 | 1504517 |
|  US Foods Holding Corp.\* | 74471 | 5705968 |
|  |  | 18951008 |
|  ***Food Products (2.2%)*** |  |  |
|  Archer-Daniels-Midland Co. | 38992 | 2329382 |
|  Bunge Global SA | 11190 | 909187 |
|  Campbell's Co. (The)(x) | 16201 | 511628 |
|  Conagra Brands, Inc. | 39050 | 715006 |
|  Darling Ingredients, Inc.\* | 11447 | 353369 |
|  Flowers Foods, Inc. | 15385 | 200774 |
|  Freshpet, Inc.\* | 2782 | 153316 |
|  General Mills, Inc. | 44811 | 2259371 |
|  Hershey Co. (The) | 10546 | 1972629 |
|  Hormel Foods Corp. | 23648 | 585052 |
|  Ingredion, Inc. | 5094 | 622028 |
|  J M Smucker Co. (The) | 8440 | 916584 |
|  Kellanova | 22593 | 1853078 |
|  Kraft Heinz Co. (The) | 70083 | 1824961 |
|  Lamb Weston Holdings, Inc. | 11221 | 651716 |
|  Marzetti Co. (The) | 20105 | 3473943 |
|  McCormick & Co., Inc. (Non- Voting) | 20534 | 1373930 |
|  Pilgrim's Pride Corp. | 3341 | 136046 |
|  Post Holdings, Inc.\* | 95449 | 10258859 |
|  Seaboard Corp. | 17 | 61999 |
|  Simply Good Foods Co. (The)\* | 72314 | 1794833 |
|  Smithfield Foods, Inc. | 3601 | 84551 |
|  Tyson Foods, Inc., Class A | 22578 | 1225985 |
|  |  | 34268227 |
|  ***Household Products (0.2%)*** |  |  |
|  Church & Dwight Co., Inc. | 20013 | 1753739 |
|  Clorox Co. (The) | 10144 | 1250755 |
|  Reynolds Consumer Products, Inc. | 4349 | 106420 |
|  |  | 3110914 |
|  ***Personal Care Products (0.4%)*** |  |  |
|  BellRing Brands, Inc.\* | 10379 | 377277 |
|  Coty, Inc., Class A\* | 27704 | 111924 |
|  e.l.f. Beauty, Inc.\* | 4507 | 597087 |
|  Estee Lauder Cos., Inc. (The), Class A | 19242 | 1695605 |
|  Kenvue, Inc. | 155339 | 2521152 |
|  |  | 5303045 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 65317930 |
|  **Energy (4.4%)** |  |  |
|  ***Energy Equipment & Services (0.5%)*** |  |  |
|  Baker Hughes Co. | 81032 | 3947879 |
|  Halliburton Co. | 70861 | 1743180 |
|  NOV, Inc. | 30999 | 410737 |
|  TechnipFMC plc | 33115 | 1306387 |
|  Weatherford International plc | 5823 | 398468 |
|  |  | 7806651 |
|  ***Oil, Gas & Consumable Fuels (3.9%)*** |  |  |
|  Antero Midstream Corp. | 27254 | 529818 |
|  Antero Resources Corp.\* | 135011 | 4530969 |
|  APA Corp. | 29364 | 712958 |
|  Cheniere Energy, Inc. | 9994 | 2348390 |
|  Chord Energy Corp. | 24553 | 2439832 |
|  Civitas Resources, Inc.(x) | 121749 | 3956842 |
|  Coterra Energy, Inc. | 257138 | 6081314 |
|  Devon Energy Corp. | 51351 | 1800366 |
|  Diamondback Energy, Inc. | 15540 | 2223774 |
|  DT Midstream, Inc. | 8230 | 930484 |

---

See Notes to Portfolio of Investments.

699

------

**EQ ADVISORS TRUST** 

EQ/MID CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  EQT Corp. | 50664 | $2757641 |
|  Expand Energy Corp. | 18107 | 1923688 |
|  HF Sinclair Corp. | 11776 | 616356 |
|  Kinder Morgan, Inc. | 158904 | 4498572 |
|  Marathon Petroleum Corp. | 25104 | 4838545 |
|  Matador Resources Co. | 9613 | 431912 |
|  Occidental Petroleum Corp. | 57512 | 2717442 |
|  ONEOK, Inc. | 51005 | 3721835 |
|  Ovintiv, Inc. | 20717 | 836552 |
|  Permian Resources Corp. | 53934 | 690355 |
|  Phillips 66 | 30903 | 4203426 |
|  Range Resources Corp. | 19326 | 727431 |
|  Valero Energy Corp. | 25488 | 4339587 |
|  Viper Energy, Inc., Class A | 78361 | 2994957 |
|  |  | 60853046 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 68659697 |
|  **Financials (13.9%)** |  |  |
|  ***Banks (4.2%)*** |  |  |
|  Ameris Bancorp | 39793 | 2917225 |
|  Bank OZK | 8505 | 433585 |
|  BOK Financial Corp. | 1848 | 205941 |
|  Cadence Bank | 104040 | 3905662 |
|  Citizens Financial Group, Inc. | 35963 | 1911793 |
|  Columbia Banking System, Inc. | 146475 | 3770266 |
|  Comerica, Inc. | 10466 | 717130 |
|  Commerce Bancshares, Inc. | 9991 | 597062 |
|  Cullen/Frost Bankers, Inc. | 4957 | 628399 |
|  East West Bancorp, Inc. | 11305 | 1203417 |
|  Fifth Third Bancorp | 54514 | 2428599 |
|  First Citizens BancShares, Inc., Class A | 779 | 1393756 |
|  First Hawaiian, Inc. | 10046 | 249442 |
|  First Horizon Corp. | 127675 | 2886732 |
|  FNB Corp. | 28587 | 460537 |
|  Huntington Bancshares, Inc. | 118252 | 2042212 |
|  KeyCorp | 77052 | 1440102 |
|  M&T Bank Corp. | 12887 | 2546729 |
|  National Bank Holdings Corp., Class A | 53486 | 2066699 |
|  Pinnacle Financial Partners, Inc. | 5628 | 527850 |
|  Popular, Inc. | 5005 | 635685 |
|  Prosperity Bancshares, Inc. | 7486 | 496696 |
|  Regions Financial Corp. | 73627 | 1941544 |
|  Seacoast Banking Corp. of Florida | 75713 | 2303947 |
|  SouthState Bank Corp. | 45440 | 4492653 |
|  Synovus Financial Corp. | 138562 | 6800623 |
|  TFS Financial Corp.(x) | 3776 | 49749 |
|  Triumph Financial, Inc.\* | 31828 | 1592673 |
|  UMB Financial Corp. | 32624 | 3861050 |
|  Webster Financial Corp. | 144379 | 8581888 |
|  Western Alliance Bancorp | 7085 | 614411 |
|  Wintrust Financial Corp. | 5289 | 700475 |
|  Zions Bancorp NA | 11902 | 673415 |
|  |  | 65077947 |
|  ***Capital Markets (3.6%)*** |  |  |
|  Affiliated Managers Group, Inc. | 2318 | 552681 |
|  Ameriprise Financial, Inc. | 717 | 352226 |
|  Bank of New York Mellon Corp. (The) | 53524 | 5831975 |
|  Carlyle Group, Inc. (The) | 21560 | 1351812 |
|  Cboe Global Markets, Inc. | 8632 | 2116998 |
|  Coinbase Global, Inc., Class A\* | 15498 | 5230420 |
|  Evercore, Inc., Class A | 6311 | 2128826 |
|  FactSet Research Systems, Inc. | 2916 | 835405 |
|  Franklin Resources, Inc. | 25213 | 583177 |
|  Freedom Holding Corp.(x)\* | 205 | 35287 |
|  Hamilton Lane, Inc., Class A | 1134 | 152852 |
|  Houlihan Lokey, Inc., Class A | 2641 | 542250 |
|  Invesco Ltd. | 29472 | 676088 |
|  Janus Henderson Group plc | 10238 | 455693 |
|  Jefferies Financial Group, Inc. | 9572 | 626200 |
|  Lazard, Inc. | 6059 | 319794 |
|  MarketAxess Holdings, Inc. | 3001 | 522924 |
|  Morningstar, Inc. | 613 | 142222 |
|  MSCI, Inc. | 3102 | 1760106 |
|  Nasdaq, Inc. | 33753 | 2985453 |
|  Northern Trust Corp. | 15565 | 2095049 |
|  Raymond James Financial, Inc. | 14959 | 2581923 |
|  Robinhood Markets, Inc., Class A\* | 52369 | 7498193 |
|  SEI Investments Co. | 8541 | 724704 |
|  State Street Corp. | 23153 | 2685979 |
|  Stifel Financial Corp. | 61751 | 7006886 |
| T. Rowe Price Group, Inc. | 18078 | 1855526 |
|  TPG, Inc., Class A | 23479 | 1348869 |
|  Tradeweb Markets, Inc., Class A | 8773 | 973628 |
|  Virtu Financial, Inc., Class A | 6610 | 234655 |
|  XP, Inc., Class A | 29709 | 558232 |
|  |  | 54766033 |
|  ***Consumer Finance (0.8%)*** |  |  |
|  Ally Financial, Inc. | 94785 | 3715572 |
|  Bread Financial Holdings, Inc. | 41045 | 2289080 |
|  Credit Acceptance Corp.\* | 326 | 152219 |
|  OneMain Holdings, Inc. | 9632 | 543823 |
|  PRA Group, Inc.\* | 92205 | 1423645 |
|  SLM Corp. | 14959 | 414065 |
|  SoFi Technologies, Inc.\* | 79785 | 2107920 |
|  Synchrony Financial | 30407 | 2160417 |
|  |  | 12806741 |
|  ***Financial Services (1.5%)*** |  |  |
|  Affirm Holdings, Inc., Class A\* | 8968 | 655381 |
|  Block, Inc., Class A\* | 28247 | 2041411 |
|  Euronet Worldwide, Inc.(x)\* | 3247 | 285119 |
|  Fidelity National Information |  |  |
|  Services, Inc. | 43382 | 2860609 |
|  Global Payments, Inc. | 19849 | 1649055 |
|  Jack Henry & Associates, Inc. | 5966 | 888516 |
|  MGIC Investment Corp. | 19289 | 547229 |
|  Mr Cooper Group, Inc. | 44902 | 9464893 |
|  Rocket Cos., Inc., Class A(x) | 20847 | 404015 |
|  UWM Holdings Corp., Class A | 11240 | 68452 |
|  Voya Financial, Inc. | 56716 | 4242357 |
|  Western Union Co. (The) | 22798 | 182156 |
|  WEX, Inc.\* | 2584 | 407057 |
|  |  | 23696250 |
|  ***Insurance (3.6%)*** |  |  |
|  Allstate Corp. (The) | 21638 | 4644597 |
|  American Financial Group, Inc. | 5535 | 806560 |
|  Arch Capital Group Ltd. | 29943 | 2716728 |
|  Assurant, Inc. | 4248 | 920117 |
|  Assured Guaranty Ltd. | 3901 | 330220 |
|  Axis Capital Holdings Ltd. | 6592 | 631514 |
|  Brighthouse Financial, Inc.\* | 4893 | 259720 |
|  Brown & Brown, Inc. | 32788 | 3075187 |
|  Cincinnati Financial Corp. | 12791 | 2022257 |
|  CNA Financial Corp. | 1975 | 91758 |
|  Everest Group Ltd. | 11825 | 4141470 |
|  Fidelity National Financial, Inc. | 21041 | 1272770 |
|  First American Financial Corp. | 8165 | 524520 |
|  Globe Life, Inc. | 6912 | 988209 |
|  Hanover Insurance Group, Inc. (The) | 2937 | 533447 |
|  Hartford Insurance Group, Inc. (The) | 23253 | 3101718 |
|  Kemper Corp. | 80897 | 4170240 |
|  Lincoln National Corp. | 14708 | 593174 |
|  Loews Corp. | 33737 | 3386857 |

---

See Notes to Portfolio of Investments.

700

------

**EQ ADVISORS TRUST** 

EQ/MID CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Markel Group, Inc.\* | 820 | $1567315 |
|  Old Republic International Corp. | 19485 | 827528 |
|  Primerica, Inc. | 2762 | 766704 |
|  Principal Financial Group, Inc. | 18487 | 1532757 |
|  Prudential Financial, Inc. | 29337 | 3043420 |
|  Reinsurance Group of America, Inc. | 5425 | 1042305 |
|  RenaissanceRe Holdings Ltd. | 25508 | 6477246 |
|  RLI Corp. | 6662 | 434496 |
|  Unum Group | 14329 | 1114510 |
|  W.R. Berkley Corp. | 23853 | 1827617 |
|  White Mountains Insurance Group Ltd. | 210 | 351019 |
|  Willis Towers Watson plc | 8033 | 2775000 |
|  |  | 55970980 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.2%)*** |  |  |
|  AGNC Investment Corp. (REIT)(x) | 83889 | 821273 |
|  Annaly Capital Management, Inc. (REIT) | 51468 | 1040168 |
|  Rithm Capital Corp. (REIT) | 44426 | 506012 |
|  Starwood Property Trust, Inc. (REIT) | 28169 | 545634 |
|  |  | 2913087 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 215231038 |
|  **Health Care (6.8%)** |  |  |
|  ***Biotechnology (0.5%)*** |  |  |
|  Biogen, Inc.\* | 11889 | 1665411 |
|  BioMarin Pharmaceutical, Inc.\* | 15471 | 837909 |
|  Caris Life Sciences, Inc.\* | 804 | 24321 |
|  Exact Sciences Corp.\* | 14486 | 792529 |
|  Exelixis, Inc.\* | 3970 | 163961 |
|  Incyte Corp.\* | 9666 | 819773 |
|  Insmed, Inc.\* | 922 | 132777 |
|  Ionis Pharmaceuticals, Inc.\* | 1019 | 66663 |
|  Moderna, Inc.\* | 29194 | 754081 |
|  Neurocrine Biosciences, Inc.\* | 1154 | 161999 |
|  Revolution Medicines, Inc.\* | 14232 | 664634 |
|  Roivant Sciences Ltd.\* | 31597 | 478063 |
|  Sarepta Therapeutics, Inc.\* | 1281 | 24685 |
|  United Therapeutics Corp.\* | 3624 | 1519217 |
|  Viking Therapeutics, Inc.(x)\* | 8249 | 216784 |
|  |  | 8322807 |
|  ***Health Care Equipment & Supplies (2.2%)*** |  |  |
|  Align Technology, Inc.\* | 5635 | 705615 |
|  Baxter International, Inc. | 42144 | 959619 |
|  Boston Scientific Corp.\* | 14888 | 1453515 |
|  Cooper Cos., Inc. (The)\* | 79473 | 5448669 |
|  Dentsply Sirona, Inc. | 16466 | 208953 |
|  Envista Holdings Corp.\* | 13733 | 279741 |
|  GE HealthCare Technologies, Inc. | 37325 | 2803107 |
|  Globus Medical, Inc., Class A\* | 9023 | 516747 |
|  Hologic, Inc.\* | 18377 | 1240264 |
|  ICU Medical, Inc.\* | 18486 | 2217581 |
|  LivaNova plc\* | 37092 | 1942879 |
|  ResMed, Inc. | 9064 | 2481089 |
|  Solventum Corp.\* | 62796 | 4584108 |
|  STERIS plc | 7981 | 1974819 |
|  Teleflex, Inc. | 40283 | 4929028 |
|  Zimmer Biomet Holdings, Inc. | 16090 | 1584865 |
|  |  | 33330599 |
|  ***Health Care Providers & Services (1.3%)*** |  |  |
|  Acadia Healthcare Co., Inc.\* | 68708 | 1701210 |
|  Cardinal Health, Inc. | 9898 | 1553590 |
|  Centene Corp.\* | 40081 | 1430090 |
|  Chemed Corp. | 1060 | 474605 |
|  Encompass Health Corp. | 8144 | 1034451 |
|  Henry Schein, Inc.\* | 8679 | 576025 |
|  Humana, Inc. | 9871 | 2568138 |
|  Labcorp Holdings, Inc. | 19636 | 5636710 |
|  Molina Healthcare, Inc.\* | 8792 | 1682437 |
|  Quest Diagnostics, Inc. | 9173 | 1748190 |
|  Tenet Healthcare Corp.\* | 7089 | 1439351 |
|  Universal Health Services, Inc., Class B | 4533 | 926727 |
|  |  | 20771524 |
|  ***Health Care Technology (0.1%)*** |  |  |
|  Certara, Inc.\* | 9851 | 120379 |
|  Veeva Systems, Inc., Class A\* | 2473 | 736732 |
|  |  | 857111 |
|  ***Life Sciences Tools & Services (2.1%)*** |  |  |
|  Agilent Technologies, Inc. | 23259 | 2985293 |
|  Avantor, Inc.\* | 54480 | 679910 |
|  Bio-Rad Laboratories, Inc., Class A\* | 1590 | 445820 |
|  Bio-Techne Corp. | 12769 | 710340 |
|  Bruker Corp. | 8465 | 275028 |
|  Charles River Laboratories International, Inc.\* | 4019 | 628813 |
|  Evotec SE (ADR)\* | 259516 | 942043 |
|  ICON plc\* | 45228 | 7914900 |
|  Illumina, Inc.\* | 46224 | 4389893 |
|  IQVIA Holdings, Inc.\* | 13799 | 2620982 |
|  Mettler-Toledo International, Inc.\* | 1697 | 2083254 |
|  QIAGEN NV(x) | 17550 | 784134 |
|  Repligen Corp.\* | 3802 | 508213 |
|  Revvity, Inc. | 52480 | 4599872 |
|  Sotera Health Co.\* | 12608 | 198324 |
|  Waters Corp.\* | 2336 | 700356 |
|  West Pharmaceutical Services, Inc. | 5891 | 1545386 |
|  |  | 32012561 |
|  ***Pharmaceuticals (0.6%)*** |  |  |
|  Elanco Animal Health, Inc.(x)\* | 39968 | 804956 |
|  Jazz Pharmaceuticals plc\* | 4781 | 630136 |
|  Organon & Co. | 21084 | 225177 |
|  Perrigo Co. plc | 248666 | 5537792 |
|  Royalty Pharma plc, Class A | 30983 | 1093080 |
|  Viatris, Inc. | 95195 | 942430 |
|  |  | 9233571 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 104528173 |
|  **Industrials (15.6%)** |  |  |
|  ***Aerospace & Defense (1.8%)*** |  |  |
|  ATI, Inc.\* | 11513 | 936467 |
|  BWX Technologies, Inc. | 6248 | 1151944 |
|  Curtiss-Wright Corp. | 3058 | 1660310 |
|  Ducommun, Inc.\* | 18542 | 1782442 |
|  Hexcel Corp. | 6484 | 406547 |
|  Huntington Ingalls Industries, Inc. | 33110 | 9532700 |
|  L3Harris Technologies, Inc. | 15272 | 4664222 |
|  Leonardo DRS, Inc. | 3754 | 170432 |
|  Loar Holdings, Inc.\* | 323 | 25840 |
|  Moog, Inc., Class A | 12164 | 2526098 |
|  Spirit AeroSystems Holdings, Inc., Class A\* | 8604 | 332114 |
|  StandardAero, Inc.\* | 88026 | 2402230 |
|  Textron, Inc. | 14516 | 1226457 |
|  Woodward, Inc. | 4870 | 1230698 |
|  |  | 28048501 |
|  ***Air Freight & Logistics (0.2%)*** |  |  |
|  CH Robinson Worldwide, Inc. | 9540 | 1263096 |
|  Expeditors International of Washington, Inc. | 11034 | 1352658 |
|  GXO Logistics, Inc.\* | 9326 | 493252 |
|  |  | 3109006 |
|  ***Building Products (1.0%)*** |  |  |
|  A.O. Smith Corp. | 9156 | 672142 |

---

See Notes to Portfolio of Investments.

701

------

**EQ ADVISORS TRUST** 

EQ/MID CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Advanced Drainage Systems, Inc. | 5811 | $805986 |
|  Allegion plc | 6973 | 1236662 |
|  Armstrong World Industries, Inc. | 2426 | 475520 |
|  Builders FirstSource, Inc.\* | 23169 | 2809241 |
|  Carlisle Cos., Inc. | 3121 | 1026684 |
|  Fortune Brands Innovations, Inc. | 59415 | 3172167 |
|  Hayward Holdings, Inc.\* | 163536 | 2472664 |
|  Masco Corp. | 17106 | 1204091 |
|  Owens Corning | 6849 | 968860 |
|  Simpson Manufacturing Co., Inc. | 3105 | 519963 |
|  Trex Co., Inc.\* | 8354 | 431651 |
|  |  | 15795631 |
|  ***Commercial Services & Supplies (0.3%)*** |  |  |
|  Clean Harbors, Inc.\* | 4189 | 972770 |
|  MSA Safety, Inc. | 2978 | 512424 |
|  RB Global, Inc. | 14351 | 1555074 |
|  Tetra Tech, Inc. | 17604 | 587622 |
|  Veralto Corp. | 11633 | 1240194 |
|  |  | 4868084 |
|  ***Construction & Engineering (0.6%)*** |  |  |
|  AECOM | 10898 | 1421862 |
|  API Group Corp.\* | 30265 | 1040208 |
|  EMCOR Group, Inc. | 2377 | 1543957 |
|  Everus Construction Group, Inc.\* | 4063 | 348402 |
|  Fluor Corp.\* | 34464 | 1449900 |
|  MasTec, Inc.\* | 4047 | 861242 |
|  Quanta Services, Inc. | 2737 | 1134268 |
|  Valmont Industries, Inc. | 1611 | 624633 |
|  WillScot Holdings Corp. | 11524 | 243272 |
|  |  | 8667744 |
|  ***Electrical Equipment (1.4%)*** |  |  |
|  Acuity, Inc. | 2515 | 866141 |
|  AMETEK, Inc. | 18810 | 3536280 |
|  Generac Holdings, Inc.\* | 13793 | 2308948 |
|  Hubbell, Inc., Class B | 4353 | 1873139 |
|  nVent Electric plc | 13418 | 1323551 |
|  Regal Rexnord Corp. | 61743 | 8856416 |
|  Rockwell Automation, Inc. | 8501 | 2971355 |
|  Sensata Technologies Holding plc | 11509 | 351600 |
|  |  | 22087430 |
|  ***Ground Transportation (0.7%)*** |  |  |
|  Avis Budget Group, Inc.(x)\* | 972 | 156079 |
|  JB Hunt Transport Services, Inc. | 6352 | 852248 |
|  Knight-Swift Transportation |  |  |
|  Holdings, Inc., Class A | 13139 | 519122 |
|  Landstar System, Inc. | 2721 | 333486 |
|  Lyft, Inc., Class A\* | 27544 | 606243 |
|  Old Dominion Freight Line, Inc. | 14292 | 2012028 |
|  Ryder System, Inc. | 17931 | 3382504 |
|  Saia, Inc.\* | 2192 | 656197 |
|  Schneider National, Inc., Class B | 4643 | 98246 |
|  U-Haul Holding Co. (Nasdaq Stock Exchange)\* | 358 | 20431 |
|  U-Haul Holding Co. (New York Stock Exchange) | 5165 | 262898 |
|  XPO, Inc.\* | 7489 | 968103 |
|  |  | 9867585 |
|  ***Machinery (4.1%)*** |  |  |
|  AGCO Corp. | 5013 | 536742 |
|  Allison Transmission Holdings, Inc. | 5849 | 496463 |
|  Atmus Filtration Technologies, Inc. | 51368 | 2316183 |
|  CNH Industrial NV | 71838 | 779442 |
|  Crane Co. | 4115 | 757736 |
|  Cummins, Inc. | 11236 | 4745749 |
|  Donaldson Co., Inc. | 9322 | 763006 |
|  Dover Corp. | 11039 | 1841636 |
|  Energy Recovery, Inc.\* | 132057 | 2036319 |
|  Esab Corp. | 13273 | 1483125 |
|  Flowserve Corp. | 11104 | 590067 |
|  Fortive Corp. | 27644 | 1354280 |
|  Gates Industrial Corp. plc\* | 339777 | 8433265 |
|  Graco, Inc. | 13601 | 1155541 |
|  Helios Technologies, Inc. | 38441 | 2003929 |
|  IDEX Corp. | 19828 | 3227205 |
|  Ingersoll Rand, Inc. | 32897 | 2717950 |
|  ITT, Inc. | 6254 | 1117965 |
|  JBT Marel Corp. | 24403 | 3427401 |
|  Lincoln Electric Holdings, Inc. | 4452 | 1049915 |
|  Middleby Corp. (The)\* | 28924 | 3844867 |
|  Mueller Industries, Inc. | 8909 | 900789 |
|  Nordson Corp. | 4344 | 985871 |
|  Oshkosh Corp. | 5267 | 683130 |
|  Otis Worldwide Corp. | 32257 | 2949258 |
|  Pentair plc | 13263 | 1469010 |
|  RBC Bearings, Inc.\* | 2038 | 795411 |
|  Snap-on, Inc. | 4224 | 1463743 |
|  Stanley Black & Decker, Inc. | 12636 | 939234 |
|  Timken Co. (The) | 5167 | 388455 |
|  Toro Co. (The) | 30430 | 2318766 |
|  Westinghouse Air Brake Technologies Corp. | 13980 | 2802571 |
|  Xylem, Inc. | 19857 | 2928908 |
|  |  | 63303932 |
|  ***Marine Transportation (0.0%)†*** |  |  |
|  Kirby Corp.\* | 4605 | 384287 |
|  ***Passenger Airlines (0.6%)*** |  |  |
|  Alaska Air Group, Inc.\* | 30171 | 1501912 |
|  American Airlines Group, Inc.\* | 51401 | 577747 |
|  Delta Air Lines, Inc. | 53209 | 3019611 |
|  Southwest Airlines Co. | 34455 | 1099459 |
|  United Airlines Holdings, Inc.\* | 26551 | 2562172 |
|  |  | 8760901 |
|  ***Professional Services (2.9%)*** |  |  |
|  Amentum Holdings, Inc.\* | 12847 | 307686 |
|  Broadridge Financial Solutions, Inc. | 895 | 213162 |
|  CACI International, Inc., Class A\* | 9256 | 4616708 |
|  Clarivate plc\* | 28940 | 110840 |
|  Concentrix Corp.(x) | 3732 | 172232 |
|  Dayforce, Inc.\* | 11351 | 781970 |
|  Equifax, Inc. | 8427 | 2161778 |
|  First Advantage Corp.(x)\* | 199754 | 3074214 |
|  FTI Consulting, Inc.\* | 21849 | 3531891 |
|  Genpact Ltd. | 12738 | 533595 |
|  Jacobs Solutions, Inc. | 9729 | 1457988 |
|  KBR, Inc. | 9787 | 462827 |
|  Leidos Holdings, Inc. | 10509 | 1985781 |
|  ManpowerGroup, Inc. | 3690 | 139851 |
|  Parsons Corp.(x)\* | 4347 | 360453 |
|  Paychex, Inc. | 18048 | 2287765 |
|  Paycom Software, Inc. | 1917 | 399004 |
|  Paylocity Holding Corp.\* | 306 | 48737 |
|  Robert Half, Inc. | 7997 | 271738 |
|  Science Applications International Corp. | 3879 | 385456 |
|  SS&C Technologies Holdings, Inc. | 90408 | 8024614 |
|  TransUnion | 87994 | 7372137 |
|  Verisk Analytics, Inc. | 4598 | 1156443 |
|  WNS Holdings Ltd.\* | 61481 | 4689156 |
|  |  | 44546026 |
|  ***Trading Companies & Distributors (2.0%)*** |  |  |
|  Air Lease Corp., Class A | 8711 | 554455 |
|  Applied Industrial Technologies, Inc. | 3119 | 814215 |
|  Boise Cascade Co. | 39347 | 3042310 |

---

See Notes to Portfolio of Investments.

702

------

**EQ ADVISORS TRUST** 

EQ/MID CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Core & Main, Inc., Class A\* | 6550 | $352587 |
|  Fastenal Co. | 16722 | 820047 |
|  Ferguson Enterprises, Inc. | 15012 | 3371395 |
|  MSC Industrial Direct Co., Inc., Class A | 3545 | 326636 |
|  QXO, Inc.\* | 50034 | 953648 |
|  SiteOne Landscape Supply, Inc.\* | 2364 | 304483 |
|  United Rentals, Inc. | 5242 | 5004328 |
|  W.W. Grainger, Inc. | 526 | 501257 |
|  Watsco, Inc. | 2856 | 1154681 |
|  WESCO International, Inc. | 63350 | 13398525 |
|  |  | 30598567 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 240037694 |
|  **Information Technology (7.8%)** |  |  |
|  ***Communications Equipment (0.9%)*** |  |  |
|  Ciena Corp.\* | 45731 | 6661635 |
|  F5, Inc.\* | 10299 | 3328534 |
|  Lumentum Holdings, Inc.(x)\* | 5232 | 851299 |
|  Viavi Solutions, Inc.\* | 209115 | 2653669 |
|  |  | 13495137 |
|  ***Electronic Equipment, Instruments & Components (2.0%)*** |  |  |
|  Arrow Electronics, Inc.\* | 4237 | 512677 |
|  Avnet, Inc. | 6764 | 353622 |
|  Belden, Inc. | 20132 | 2421276 |
|  CDW Corp. | 10064 | 1602994 |
|  Cognex Corp. | 13684 | 619885 |
|  Coherent Corp.\* | 12627 | 1360180 |
|  Corning, Inc. | 63798 | 5233350 |
|  Crane NXT Co. | 3835 | 257213 |
|  Flex Ltd.\* | 92692 | 5373355 |
|  Ingram Micro Holding Corp.(x) | 1222 | 26261 |
|  IPG Photonics Corp.\* | 2022 | 160122 |
|  Jabil, Inc. | 3026 | 657156 |
|  Keysight Technologies, Inc.\* | 14047 | 2457101 |
|  Littelfuse, Inc. | 1962 | 508178 |
|  Ralliant Corp. | 9739 | 425887 |
|  TD SYNNEX Corp. | 6349 | 1039649 |
|  Teledyne Technologies, Inc.\* | 8649 | 5068660 |
|  Trimble, Inc.\* | 19393 | 1583439 |
|  Vontier Corp. | 11949 | 501500 |
|  Zebra Technologies Corp., Class A\* | 4114 | 1222516 |
|  |  | 31385021 |
|  ***IT Services (1.5%)*** |  |  |
|  Akamai Technologies, Inc.\* | 11829 | 896165 |
|  Amdocs Ltd. | 43861 | 3598795 |
|  Cognizant Technology Solutions Corp., Class A | 40281 | 2701647 |
|  DXC Technology Co.\* | 13435 | 183119 |
|  EPAM Systems, Inc.\* | 4511 | 680214 |
|  Globant SA\* | 3208 | 184075 |
|  GoDaddy, Inc., Class A\* | 19955 | 2730443 |
|  Kyndryl Holdings, Inc.\* | 17106 | 513693 |
|  MongoDB, Inc.\* | 5808 | 1802687 |
|  Okta, Inc.\* | 8226 | 754324 |
|  Twilio, Inc., Class A\* | 9441 | 944950 |
|  VeriSign, Inc. | 23470 | 6561508 |
|  Wix.com Ltd.\* | 12866 | 2285387 |
|  |  | 23837007 |
|  ***Semiconductors & Semiconductor Equipment (1.2%)*** |  |  |
|  Allegro MicroSystems, Inc.\* | 10260 | 299592 |
|  Amkor Technology, Inc. | 9132 | 259349 |
|  Cirrus Logic, Inc.\* | 4109 | 514817 |
|  Entegris, Inc. | 10302 | 952523 |
|  First Solar, Inc.\* | 8248 | 1818931 |
|  GLOBALFOUNDRIES, Inc.\* | 8293 | 297221 |
|  Lattice Semiconductor Corp.\* | 1671 | 122518 |
|  MACOM Technology Solutions Holdings, Inc.\* | 3904 | 486009 |
|  Microchip Technology, Inc. | 43092 | 2767368 |
|  MKS, Inc. | 42246 | 5228787 |
|  ON Semiconductor Corp.\* | 34244 | 1688572 |
|  Onto Innovation, Inc.\* | 3060 | 395413 |
|  Qorvo, Inc.\* | 6904 | 628816 |
|  Skyworks Solutions, Inc. | 12206 | 939618 |
|  Teradyne, Inc. | 13216 | 1819050 |
|  Universal Display Corp. | 3598 | 516781 |
|  |  | 18735365 |
|  ***Software (1.4%)*** |  |  |
|  Aurora Innovation, Inc., Class A\* | 85551 | 461120 |
|  BILL Holdings, Inc.\* | 7589 | 401989 |
|  CCC Intelligent Solutions Holdings, Inc.(x)\* | 42796 | 389872 |
|  Circle Internet Group, Inc., Class A\* | 3243 | 429957 |
|  Docusign, Inc.\* | 4032 | 290667 |
|  Dolby Laboratories, Inc., Class A | 5028 | 363876 |
|  Dropbox, Inc., Class A\* | 11083 | 334817 |
|  Fair Isaac Corp.\* | 329 | 492358 |
|  Gen Digital, Inc. | 39690 | 1126799 |
|  Informatica, Inc., Class A\* | 8623 | 214195 |
|  nCino, Inc.\* | 7504 | 203433 |
|  Nutanix, Inc., Class A\* | 15846 | 1178784 |
|  Pegasystems, Inc.(x) | 29846 | 1716145 |
|  Progress Software Corp.(x)\* | 112635 | 4948056 |
|  PTC, Inc.\* | 20134 | 4087605 |
|  Rubrik, Inc., Class A\* | 3817 | 313948 |
|  SailPoint, Inc.(x)\* | 4923 | 108700 |
|  SentinelOne, Inc., Class A\* | 6794 | 119642 |
|  Teradata Corp.\* | 5941 | 127791 |
|  Tyler Technologies, Inc.\* | 604 | 315989 |
|  UiPath, Inc., Class A\* | 32831 | 439279 |
|  Unity Software, Inc.\* | 24552 | 983062 |
|  Zoom Communications, Inc., Class A\* | 21385 | 1764263 |
|  |  | 20812347 |
|  ***Technology Hardware, Storage & Peripherals (0.8%)*** |  |  |
|  Hewlett Packard Enterprise Co. | 107142 | 2631407 |
|  HP, Inc. | 77839 | 2119556 |
|  NetApp, Inc. | 9858 | 1167779 |
|  Pure Storage, Inc., Class A\* | 3672 | 307750 |
|  Sandisk Corp.\* | 10968 | 1230610 |
|  Super Micro Computer, Inc.(x)\* | 22913 | 1098449 |
|  Western Digital Corp. | 28268 | 3393856 |
|  |  | 11949407 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 120214284 |
|  **Materials (5.1%)** |  |  |
|  ***Chemicals (2.1%)*** |  |  |
|  Albemarle Corp. | 9574 | 776260 |
|  Ashland, Inc. | 79289 | 3798736 |
|  Avient Corp. | 69520 | 2290684 |
|  Axalta Coating Systems Ltd.\* | 17620 | 504284 |
|  Celanese Corp. | 9170 | 385874 |
|  CF Industries Holdings, Inc. | 13122 | 1177043 |
|  Corteva, Inc. | 56356 | 3811356 |
|  Dow, Inc. | 58417 | 1339502 |
|  DuPont de Nemours, Inc. | 34205 | 2664569 |
|  Eastman Chemical Co. | 9461 | 596516 |
|  Element Solutions, Inc. | 18027 | 453740 |
|  FMC Corp. | 10604 | 356613 |
|  Huntsman Corp. | 13707 | 123089 |
|  Ingevity Corp.\* | 62965 | 3475038 |
|  International Flavors & Fragrances, Inc. | 21095 | 1298186 |

---

See Notes to Portfolio of Investments.

703

------

**EQ ADVISORS TRUST** 

EQ/MID CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  LyondellBasell Industries NV, Class A | 21168 | $1038079 |
|  Mosaic Co. (The) | 26000 | 901680 |
|  NewMarket Corp. | 490 | 405823 |
|  Olin Corp. | 9690 | 242153 |
|  PPG Industries, Inc. | 18398 | 1933814 |
|  Quaker Chemical Corp. | 19511 | 2570574 |
|  RPM International, Inc. | 10458 | 1232789 |
|  Scotts Miracle-Gro Co. (The) | 3785 | 215556 |
|  Westlake Corp. | 2832 | 218234 |
|  |  | 31810192 |
|  ***Construction Materials (0.8%)*** |  |  |
|  Eagle Materials, Inc. | 2540 | 591921 |
|  James Hardie Industries plc (ADR)(x)\* | 169138 | 3249141 |
|  Knife River Corp.\* | 35425 | 2723120 |
|  Martin Marietta Materials, Inc. | 4883 | 3077657 |
|  Vulcan Materials Co. | 10766 | 3311837 |
|  |  | 12953676 |
|  ***Containers & Packaging (1.0%)*** |  |  |
|  Amcor plc | 187920 | 1537186 |
|  AptarGroup, Inc. | 5387 | 720026 |
|  Avery Dennison Corp. | 6385 | 1035455 |
|  Ball Corp. | 22518 | 1135357 |
|  Crown Holdings, Inc. | 9532 | 920696 |
|  Graphic Packaging Holding Co. | 23801 | 465786 |
|  International Paper Co. | 42662 | 1979517 |
|  Packaging Corp. of America | 7169 | 1562340 |
|  Sealed Air Corp. | 11329 | 400480 |
|  Silgan Holdings, Inc. | 90358 | 3886298 |
|  Smurfit WestRock plc | 42375 | 1803904 |
|  Sonoco Products Co. | 8262 | 356010 |
|  |  | 15803055 |
|  ***Metals & Mining (1.2%)*** |  |  |
|  Alcoa Corp. | 20872 | 686480 |
|  Anglogold Ashanti plc | 36415 | 2561067 |
|  Carpenter Technology Corp. | 3256 | 799478 |
|  Cleveland-Cliffs, Inc.\* | 39625 | 483425 |
|  MP Materials Corp.(x)\* | 10652 | 714430 |
|  Nucor Corp. | 18741 | 2538094 |
|  Reliance, Inc. | 18792 | 5277357 |
|  Royal Gold, Inc. | 5276 | 1058260 |
|  Steel Dynamics, Inc. | 10265 | 1431249 |
|  Taseko Mines Ltd.\* | 570559 | 2413464 |
|  |  | 17963304 |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Louisiana-Pacific Corp. | 5145 | 457082 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 78987309 |
|  **Real Estate (7.3%)** |  |  |
|  ***Diversified REITs (0.3%)*** |  |  |
|  Essential Properties Realty Trust, Inc. (REIT) | 90812 | 2702565 |
|  WP Carey, Inc. (REIT) | 17496 | 1182205 |
|  |  | 3884770 |
|  ***Health Care REITs (0.6%)*** |  |  |
|  Alexandria Real Estate Equities, Inc. (REIT) | 14100 | 1175094 |
|  American Healthcare REIT, Inc. (REIT) | 46135 | 1938131 |
|  Healthcare Realty Trust, Inc. (REIT), Class A(x) | 26736 | 482050 |
|  Healthpeak Properties, Inc. (REIT) | 57162 | 1094652 |
|  Medical Properties Trust, Inc. (REIT)(x) | 40964 | 207688 |
|  Omega Healthcare Investors, Inc. (REIT) | 23563 | 994830 |
|  Ventas, Inc. (REIT) | 36985 | 2588580 |
|  |  | 8481025 |
|  ***Hotel & Resort REITs (0.3%)*** |  |  |
|  Host Hotels & Resorts, Inc. (REIT) | 56675 | 964608 |
|  Park Hotels & Resorts, Inc. (REIT)(x) | 16063 | 177978 |
|  Ryman Hospitality Properties, Inc. (REIT) | 42266 | 3786611 |
|  |  | 4929197 |
|  ***Industrial REITs (0.6%)*** |  |  |
|  Americold Realty Trust, Inc. (REIT) | 23952 | 293173 |
|  EastGroup Properties, Inc. (REIT) | 4267 | 722232 |
|  First Industrial Realty Trust, Inc. (REIT) | 62012 | 3191758 |
|  Lineage, Inc. (REIT) | 5761 | 222605 |
|  Rexford Industrial Realty, Inc. (REIT) | 87990 | 3617269 |
|  STAG Industrial, Inc. (REIT) | 15191 | 536090 |
|  |  | 8583127 |
|  ***Office REITs (0.3%)*** |  |  |
|  BXP, Inc. (REIT)(x) | 13256 | 985451 |
|  Cousins Properties, Inc. (REIT) | 13251 | 383484 |
|  Douglas Emmett, Inc. (REIT) | 133837 | 2083842 |
|  Highwoods Properties, Inc. (REIT) | 8349 | 265665 |
|  Kilroy Realty Corp. (REIT)(x) | 9733 | 411219 |
|  Vornado Realty Trust (REIT) | 14252 | 577634 |
|  |  | 4707295 |
|  ***Real Estate Management & Development (0.5%)*** |  |  |
|  CBRE Group, Inc., Class A\* | 21802 | 3435123 |
|  CoStar Group, Inc.\* | 30158 | 2544431 |
|  Howard Hughes Holdings, Inc.\* | 2517 | 206822 |
|  Jones Lang LaSalle, Inc.\* | 2824 | 842343 |
|  Zillow Group, Inc., Class A\* | 3672 | 273343 |
|  Zillow Group, Inc., Class C\* | 13555 | 1044413 |
|  |  | 8346475 |
|  ***Residential REITs (1.6%)*** |  |  |
|  American Homes 4 Rent (REIT), Class A | 27662 | 919761 |
|  AvalonBay Communities, Inc. (REIT) | 11597 | 2240192 |
|  Camden Property Trust (REIT) | 46156 | 4928538 |
|  Equity LifeStyle Properties, Inc. (REIT) | 15545 | 943581 |
|  Equity Residential (REIT) | 31216 | 2020612 |
|  Essex Property Trust, Inc. (REIT) | 5168 | 1383267 |
|  Invitation Homes, Inc. (REIT) | 49596 | 1454651 |
|  Mid-America Apartment |  |  |
|  Communities, Inc. (REIT) | 54400 | 7601312 |
|  Sun Communities, Inc. (REIT) | 8414 | 1085406 |
|  UDR, Inc. (REIT) | 72422 | 2698444 |
|  |  | 25275764 |
|  ***Retail REITs (1.1%)*** |  |  |
|  Agree Realty Corp. (REIT) | 8772 | 623163 |
|  Brixmor Property Group, Inc. (REIT) | 179361 | 4964713 |
|  Federal Realty Investment Trust (REIT) | 6898 | 698836 |
|  Kimco Realty Corp. (REIT) | 54190 | 1184052 |
|  NNN REIT, Inc. (REIT) | 15260 | 649618 |
|  Realty Income Corp. (REIT) | 73662 | 4477913 |
|  Regency Centers Corp. (REIT) | 14866 | 1083731 |
|  Simon Property Group, Inc. (REIT) | 20606 | 3867128 |
|  |  | 17549154 |
|  ***Specialized REITs (2.0%)*** |  |  |
|  Crown Castle, Inc. (REIT) | 35486 | 3424044 |
|  CubeSmart (REIT) | 225277 | 9159763 |

---

See Notes to Portfolio of Investments.

704

------

**EQ ADVISORS TRUST** 

EQ/MID CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  Digital Realty Trust, Inc. (REIT) | 27769 | $4800705 |
|  EPR Properties (REIT) | 6263 | 363317 |
|  Extra Space Storage, Inc. (REIT) | 17178 | 2421067 |
|  Gaming and Leisure Properties, Inc. (REIT) | 22128 | 1031386 |
|  Iron Mountain, Inc. (REIT) | 23919 | 2438303 |
|  Millrose Properties, Inc. (REIT) | 9586 | 322185 |
|  National Storage Affiliates Trust (REIT) | 5891 | 178026 |
|  Rayonier, Inc. (REIT) | 12350 | 327769 |
|  SBA Communications Corp. (REIT) | 8852 | 1711534 |
|  VICI Properties, Inc. (REIT), Class A | 86300 | 2814243 |
|  Weyerhaeuser Co. (REIT) | 59721 | 1480484 |
|  |  | 30472826 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 112229633 |
|  **Utilities (4.3%)** |  |  |
|  ***Electric Utilities (1.7%)*** |  |  |
|  Alliant Energy Corp. | 21157 | 1426193 |
|  Edison International | 31394 | 1735460 |
|  Entergy Corp. | 36395 | 3391650 |
|  Evergy, Inc. | 18797 | 1428948 |
|  Eversource Energy | 29888 | 2126232 |
|  Exelon Corp. | 82590 | 3717376 |
|  FirstEnergy Corp. | 44669 | 2046733 |
|  IDACORP, Inc. | 4464 | 589918 |
|  OGE Energy Corp. | 16380 | 757903 |
|  PG&E Corp. | 179098 | 2700798 |
|  Pinnacle West Capital Corp. | 9783 | 877144 |
|  PPL Corp. | 60217 | 2237664 |
|  Xcel Energy, Inc. | 48231 | 3889830 |
|  |  | 26925849 |
|  ***Gas Utilities (0.9%)*** |  |  |
|  Atmos Energy Corp. | 13006 | 2220774 |
|  Chesapeake Utilities Corp. | 26250 | 3535613 |
|  MDU Resources Group, Inc. | 17070 | 304017 |
|  National Fuel Gas Co. | 7213 | 666265 |
|  ONE Gas, Inc. | 40365 | 3267143 |
|  UGI Corp. | 123836 | 4118785 |
|  |  | 14112597 |
|  ***Independent Power and Renewable Electricity Producers (0.2%)*** |  |  |
|  AES Corp. (The) | 58044 | 763859 |
|  Brookfield Renewable Corp. | 10955 | 377071 |
|  Clearway Energy, Inc., Class A | 3146 | 84722 |
|  Clearway Energy, Inc., Class C | 6389 | 180489 |
|  Talen Energy Corp.\* | 3734 | 1588369 |
|  |  | 2994510 |
|  ***Multi-Utilities (1.3%)*** |  |  |
|  Ameren Corp. | 22190 | 2316192 |
|  CenterPoint Energy, Inc. | 53096 | 2060125 |
|  CMS Energy Corp. | 24215 | 1773991 |
|  Consolidated Edison, Inc. | 29434 | 2958706 |
|  DTE Energy Co. | 17077 | 2415200 |
|  NiSource, Inc. | 38196 | 1653887 |
|  Public Service Enterprise Group, Inc. | 40807 | 3405752 |
|  WEC Energy Group, Inc. | 26024 | 2982090 |
|  |  | 19565943 |
|  ***Water Utilities (0.2%)*** |  |  |
|  American Water Works Co., Inc. | 15878 | 2210059 |
|  Essential Utilities, Inc. | 23236 | 927116 |
|  |  | 3137175 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 66736074 |
|  **Total Common Stocks (79.2%)**<br> *(Cost $916,243,030)* |  | 1223127416 |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  ***Equity (10.3%)*** |  |  |
|  iShares Core S&P Mid-Cap ETF | 8975 | 585709 |
|  iShares Morningstar Mid-Cap ETF | 7464 | 619885 |
|  iShares Morningstar Mid-Cap Growth ETF(x) | 116880 | 9669483 |
|  iShares Morningstar Mid-Cap Value ETF‡ | 299011 | 24025683 |
|  iShares Russell Mid-Cap ETF | 6120 | 590886 |
|  iShares Russell Mid-Cap Growth ETF(x) | 10808 | 1539167 |
|  iShares Russell Mid-Cap Value ETF(x) | 377875 | 52777801 |
|  iShares S&P Mid-Cap 400 Growth ETF(x) | 158940 | 15240757 |
|  SPDR S&P 400 Mid Cap Value ETF | 283888 | 23679098 |
|  Vanguard Mid-Cap Growth ETF(x) | 12100 | 3554859 |
|  Vanguard Mid-Cap Value ETF(x) | 149000 | 26012420 |
|  **Total Exchange Traded Funds (10.3%)<br>(***Cost $67,768,635)* |  | 158295748 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (6.1%)** |  |  |
|  Allspring Government Money Market Fund, Select Shares 4.07% (7 day yield) (xx) | 4000000 | 4000000 |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 2000000 | 2000000 |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 5000000 | 5000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 23843003 | 23843003 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 57666487 | 57689553 |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 2000000 | 2000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 94532556 |
|  **Total Short-Term Investments (6.1%)**<br> *(Cost $94,522,656)* |  | 94532556 |
|  **Total Investments in Securities (95.6%)**<br> *(Cost $1,078,534,321)* |  | 1475955720 |
|  **Other Assets Less Liabilities (4.4%)** |  | 67827836 |
|  **Net Assets (100%)** |  | $1543783556 |

---

*\** *Non-income producing.* 

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

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

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $51,174,279. This was collateralized by $15,413,136 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.125%, maturing 9/30/25 – 5/15/55 and by cash of $36,843,003 which was subsequently invested in investment companies.* 

See Notes to Portfolio of Investments.

705

------

**EQ ADVISORS TRUST** 

EQ/MID CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*Glossary:* 

*ADR — American Depositary Receipt* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases<br>at<br>Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>September 30,<br>2025 ($)** | **Dividend/<br>Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  iShares Morningstar Mid-Cap Value ETF | 299011 | 31034071 |  | (9077886) | 1451183 | 618315 | 24025683 | 446932 |  |

---

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  S&P 500 E-Mini Index | 82 | 12/2025 | USD | 27628875 | 321199 |
|  S&P Midcap 400 E-Mini Index | 382 | 12/2025 | USD | 125532840 | (1557734) |
|  |  |  |  |  | (1236535) |

---

See Notes to Portfolio of Investments.

706

------

**EQ ADVISORS TRUST** 

EQ/MID CAP VALUE MANAGED VOLATILITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $33689472 | $— | $— | $33689472 |
|  Consumer Discretionary | 117496112 |  |  | 117496112 |
|  Consumer Staples | 65317930 |  |  | 65317930 |
|  Energy | 68659697 |  |  | 68659697 |
|  Financials | 215231038 |  |  | 215231038 |
|  Health Care | 104528173 |  |  | 104528173 |
|  Industrials | 240037694 |  |  | 240037694 |
|  Information Technology | 120214284 |  |  | 120214284 |
|  Materials | 78987309 |  |  | 78987309 |
|  Real Estate | 112229633 |  |  | 112229633 |
|  Utilities | 66736074 |  |  | 66736074 |
|  **Exchange Traded Funds** | 158295748 |  |  | 158295748 |
|  **Futures** | 321199 |  |  | 321199 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 94532556 |  |  | 94532556 |
|  **Total Assets** | $**1476276919** | $**—** | $**—** | $**1476276919** |
|  **Liabilities:** |  |  |  |  |
|  **Futures** | $(1557734) | $— | $— | $(1557734) |
|  **Total Liabilities** | $**(1557734)** | $**—** | $**—** | $**(1557734)** |
|  **Total** | $**1474719185** | $**—** | $**—** | $**1474719185** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $480069972 |
|  Aggregate gross unrealized depreciation | (89111304) |
|  Net unrealized appreciation | $390958668 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1083760517 |

---

See Notes to Portfolio of Investments.

707

------

**EQ ADVISORS TRUST** 

EQ/MORGAN STANLEY SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (1.5%)** |  |  |
|  ***Diversified Telecommunication Services (0.3%)*** |  |  |
|  Anterix, Inc.\* | 1721 | $36950 |
|  Bandwidth, Inc., Class A\* | 1040 | 17337 |
|  Cogent Communications Holdings, Inc.(x) | 6941 | 266187 |
|  Globalstar, Inc.(x)\* | 7669 | 279075 |
|  IDT Corp., Class B | 1943 | 101638 |
|  Lumen Technologies, Inc.\* | 129926 | 795147 |
|  |  | 1496334 |
|  ***Entertainment (0.3%)*** |  |  |
|  Atlanta Braves Holdings, Inc., Class A(x)\* | 1070 | 48653 |
|  Atlanta Braves Holdings, Inc., Class C\* | 7141 | 296994 |
|  Cinemark Holdings, Inc. | 16019 | 448853 |
|  CuriosityStream, Inc. | 4753 | 25191 |
|  Golden Matrix Group, Inc.\* | 2920 | 3300 |
|  IMAX Corp.\* | 6795 | 222536 |
|  Madison Square Garden Entertainment Corp., Class A\* | 6042 | 273340 |
|  Playtika Holding Corp. | 2182 | 8488 |
|  Vivid Seats, Inc., Class A\* | 347 | 5767 |
|  |  | 1333122 |
|  ***Interactive Media & Services (0.7%)*** |  |  |
|  Arena Group Holdings, Inc. (The)(x)\* | 2032 | 11115 |
|  Bumble, Inc., Class A\* | 1281 | 7801 |
|  Cargurus, Inc., Class A\* | 12707 | 473082 |
|  EverQuote, Inc., Class A\* | 4431 | 101337 |
|  fuboTV, Inc.(x)\* | 50553 | 209795 |
|  Grindr, Inc.\* | 4989 | 74935 |
|  MediaAlpha, Inc., Class A\* | 5408 | 61543 |
|  QuinStreet, Inc.\* | 8483 | 131232 |
|  Rumble, Inc.(x)\* | 3871 | 28026 |
|  Travelzoo(x)\* | 994 | 9771 |
|  TripAdvisor, Inc.\* | 8771 | 142616 |
|  Vimeo, Inc.\* | 9686 | 75067 |
|  Yelp, Inc., Class A\* | 9535 | 297492 |
|  ZipRecruiter, Inc., Class A\* | 10887 | 45943 |
|  ZoomInfo Technologies, Inc., Class A\* | 123402 | 1346316 |
|  |  | 3016071 |
|  ***Media (0.2%)*** |  |  |
|  Altice USA, Inc., Class A\* | 6235 | 15026 |
|  Boston Omaha Corp., Class A(x)\* | 265 | 3466 |
|  Emerald Holding, Inc.(x) | 2156 | 10974 |
|  Entravision Communications Corp., Class A | 1743 | 4061 |
|  Gambling.com Group Ltd.(x)\* | 2796 | 22871 |
|  Gannett Co., Inc.(x)\* | 20449 | 84455 |
|  Ibotta, Inc., Class A\* | 2111 | 58792 |
|  Integral Ad Science Holding Corp.\* | 1427 | 14513 |
|  John Wiley & Sons, Inc., Class A | 5960 | 241201 |
|  Magnite, Inc.\* | 21610 | 470666 |
|  Stagwell, Inc., Class A(x)\* | 18532 | 104335 |
|  TechTarget, Inc.\* | 451 | 2620 |
|  Thryv Holdings, Inc.\* | 5039 | 60770 |
|  |  | 1093750 |
|  ***Wireless Telecommunication Services (0.0%)†*** |  |  |
|  Gogo, Inc.\* | 11285 | 96938 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 7036215 |
|  **Consumer Discretionary (13.4%)** |  |  |
|  ***Automobile Components (0.6%)*** |  |  |
|  Dorman Products, Inc.\* | 4253 | 662958 |
|  Fox Factory Holding Corp.\* | 1693 | 41123 |
|  LCI Industries | 444 | 41359 |
|  Luminar Technologies, Inc., Class A(x)\* | 3600 | 6876 |
|  Modine Manufacturing Co.\* | 8076 | 1148084 |
|  Patrick Industries, Inc. | 5019 | 519115 |
|  Solid Power, Inc.(x)\* | 2605 | 9039 |
|  XPEL, Inc.(m)\* | 3664 | 121168 |
|  |  | 2549722 |
|  ***Automobiles (0.0%)†*** |  |  |
|  Livewire Group, Inc.(x)\* | 5928 | 28158 |
|  ***Broadline Retail (1.9%)*** |  |  |
|  Global-e Online Ltd.\* | 244933 | 8758804 |
|  Groupon, Inc.\* | 3760 | 87796 |
|  Savers Value Village, Inc.(x)\* | 5528 | 73246 |
|  |  | 8919846 |
|  ***Diversified Consumer Services (0.9%)*** |  |  |
|  Adtalem Global Education, Inc.\* | 5479 | 846232 |
|  American Public Education, Inc.\* | 2487 | 98162 |
|  Carriage Services, Inc., Class A | 2136 | 95137 |
|  Coursera, Inc.\* | 21318 | 249634 |
|  European Wax Center, Inc., Class A\* | 4653 | 18565 |
|  Frontdoor, Inc.\* | 11466 | 771547 |
|  KinderCare Learning Cos., Inc.\* | 5071 | 33671 |
|  Laureate Education, Inc.\* | 6900 | 217626 |
|  Lincoln Educational Services Corp.\* | 4491 | 105538 |
|  McGraw Hill, Inc.\* | 2339 | 29354 |
|  Mister Car Wash, Inc.\* | 13146 | 70068 |
|  Nerdy, Inc.(x)\* | 9349 | 11780 |
|  OneSpaWorld Holdings Ltd. | 14555 | 307693 |
|  Stride, Inc.\* | 6588 | 981217 |
|  Udemy, Inc.\* | 14752 | 103412 |
|  Universal Technical Institute, Inc.\* | 7223 | 235109 |
|  Zspace, Inc.\* | 561 | 550 |
|  |  | 4175295 |
|  ***Hotels, Restaurants & Leisure (3.9%)*** |  |  |
|  Accel Entertainment, Inc., Class A\* | 8203 | 90807 |
|  Bally's Corp.\* | 1162 | 12898 |
|  BJ's Restaurants, Inc.\* | 1901 | 58038 |
|  Black Rock Coffee Bar, Inc., Class A\* | 158441 | 3780402 |
|  Bloomin' Brands, Inc. | 8537 | 61210 |
|  Brinker International, Inc.\* | 6828 | 864971 |
|  Cheesecake Factory, Inc. (The)(x) | 94936 | 5187303 |
|  Cracker Barrel Old Country Store, Inc.(x) | 857 | 37759 |
|  Dave & Buster's Entertainment, Inc.(x)\* | 4044 | 73439 |
|  Denny's Corp.(x)\* | 723 | 3781 |
|  Dine Brands Global, Inc.(x) | 350 | 8652 |
|  First Watch Restaurant Group, Inc.\* | 7013 | 109683 |
|  Genius Sports Ltd.\* | 33743 | 417738 |
|  Global Business Travel Group I(x)\* | 12808 | 103489 |
|  Hilton Grand Vacations, Inc.\* | 8885 | 371482 |
|  Inspired Entertainment, Inc.\* | 3536 | 33168 |
|  Jack in the Box, Inc.(x) | 2574 | 50888 |
|  Kura Sushi USA, Inc., Class A\* | 867 | 51509 |
|  Life Time Group Holdings, Inc.\* | 20843 | 575267 |
|  Lindblad Expeditions Holdings, Inc.\* | 6068 | 77670 |
|  Monarch Casino & Resort, Inc. | 1971 | 208611 |
|  Nathan's Famous, Inc. | 385 | 42635 |
|  Papa John's International, Inc.(x) | 463 | 22294 |
|  Potbelly Corp.\* | 3673 | 62588 |
|  Pursuit Attractions and Hospitality, Inc.\* | 240 | 8683 |
|  RCI Hospitality Holdings, Inc. | 834 | 25445 |
|  Red Rock Resorts, Inc., Class A | 4206 | 256818 |

---

See Notes to Portfolio of Investments.

708

------

**EQ ADVISORS TRUST** 

EQ/MORGAN STANLEY SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Rush Street Interactive, Inc.\* | 13697 | $280515 |
|  Sabre Corp.\* | 15419 | 28217 |
|  Serve Robotics, Inc.\* | 6763 | 78654 |
|  Shake Shack, Inc., Class A\* | 41325 | 3868433 |
|  Six Flags Entertainment Corp.(x)\* | 11788 | 267823 |
|  Super Group SGHC Ltd. | 24613 | 324892 |
|  Sweetgreen, Inc., Class A(x)\* | 15954 | 127313 |
|  United Parks & Resorts, Inc.(x)\* | 3952 | 204318 |
|  Xponential Fitness, Inc., Class A\* | 4433 | 34533 |
|  |  | 17811926 |
|  ***Household Durables (0.8%)*** |  |  |
|  Cavco Industries, Inc.\* | 1178 | 684100 |
|  Champion Homes, Inc.\* | 8844 | 675416 |
|  Dream Finders Homes, Inc., Class A\* | 1184 | 30689 |
|  Green Brick Partners, Inc.\* | 1511 | 111603 |
|  Installed Building Products, Inc.(x) | 3613 | 891183 |
|  Lovesac Co. (The)(x)\* | 1403 | 23753 |
|  Sonos, Inc.\* | 16430 | 259594 |
|  Victoria plc(x)\* | 1139746 | 1011677 |
|  |  | 3688015 |
|  ***Leisure Products (0.7%)*** |  |  |
|  Acushnet Holdings Corp. | 4225 | 331620 |
|  Latham Group, Inc.\* | 6386 | 48598 |
|  Marine Products Corp. | 682 | 6049 |
|  Peloton Interactive, Inc., Class A\* | 334013 | 3006117 |
|  Sturm Ruger & Co., Inc.(x) | 936 | 40688 |
|  |  | 3433072 |
|  ***Specialty Retail (4.3%)*** |  |  |
|  Abercrombie & Fitch Co., Class A\* | 7267 | 621692 |
|  Arhaus, Inc., Class A\* | 7622 | 81022 |
|  Arko Corp. | 1171 | 5351 |
|  BARK, Inc.(x)\* | 11578 | 9619 |
|  Bed Bath & Beyond, Inc.(x)\* | 22550 | 220764 |
|  Boot Barn Holdings, Inc.\* | 4742 | 785844 |
|  Buckle, Inc. (The) | 4566 | 267842 |
|  Build-A-Bear Workshop, Inc. | 1860 | 121291 |
|  Camping World Holdings, Inc., Class A | 9244 | 145963 |
|  Envela Corp.\* | 1074 | 8388 |
|  EVgo, Inc., Class A\* | 3491 | 16512 |
|  Floor & Decor Holdings, Inc., Class A\* | 141735 | 10445870 |
|  Genesco, Inc.\* | 102 | 2957 |
|  Group 1 Automotive, Inc. | 847 | 370571 |
|  MarineMax, Inc.\* | 163 | 4129 |
|  RealReal, Inc. (The)(x)\* | 3990 | 42414 |
|  Revolve Group, Inc., Class A\* | 6270 | 133551 |
|  RH\* | 2921 | 593430 |
|  Sonic Automotive, Inc., Class A | 858 | 65285 |
|  Stitch Fix, Inc., Class A\* | 1274 | 5542 |
|  ThredUp, Inc., Class A\* | 14027 | 132555 |
|  Tile Shop Holdings, Inc.(x)\* | 1290 | 7804 |
|  Upbound Group, Inc. | 2671 | 63116 |
|  Urban Outfitters, Inc.\* | 3348 | 239148 |
|  Victoria's Secret & Co.\* | 3026 | 82126 |
|  Warby Parker, Inc., Class A\* | 15106 | 416623 |
|  Wayfair, Inc., Class A\* | 54028 | 4826321 |
|  |  | 19715730 |
|  ***Textiles, Apparel & Luxury Goods (0.3%)*** |  |  |
|  Ermenegildo Zegna NV(x) | 9227 | 87195 |
|  Figs, Inc., Class A\* | 13292 | 88924 |
|  Hanesbrands, Inc.\* | 54010 | 355926 |
|  Kontoor Brands, Inc. | 6869 | 547940 |
|  Steven Madden Ltd. | 1052 | 35221 |
|  Wolverine World Wide, Inc.(x) | 12373 | 339515 |
|  |  | 1454721 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 61776485 |
|  **Consumer Staples (3.8%)** |  |  |
|  ***Beverages (0.1%)*** |  |  |
|  National Beverage Corp.\* | 3725 | 137527 |
|  Vita Coco Co., Inc. (The)\* | 6766 | 287352 |
|  Zevia PBC, Class A\* | 5103 | 13880 |
|  |  | 438759 |
|  ***Consumer Staples Distribution & Retail (0.2%)*** |  |  |
|  Chefs' Warehouse, Inc. (The)\* | 5630 | 328398 |
|  Guardian Pharmacy Services, Inc., Class A\* | 3054 | 80106 |
|  Natural Grocers by Vitamin Cottage, Inc. | 1888 | 75520 |
|  PriceSmart, Inc. | 3947 | 478337 |
|  |  | 962361 |
|  ***Food Products (0.5%)*** |  |  |
|  BRC, Inc., Class A(x)\* | 14831 | 23137 |
|  Calavo Growers, Inc. | 2484 | 63938 |
|  Cal-Maine Foods, Inc. | 7092 | 667357 |
|  Forafric Global plc\* | 520 | 4519 |
|  J & J Snack Foods Corp. | 2399 | 230520 |
|  John B Sanfilippo & Son, Inc. | 764 | 49110 |
|  Lifeway Foods, Inc.\* | 854 | 23707 |
|  Mama's Creations, Inc.(x)\* | 5092 | 53517 |
|  Marzetti Co. (The) | 3101 | 535822 |
|  Simply Good Foods Co. (The)\* | 9263 | 229908 |
|  SunOpta, Inc.\* | 13656 | 80024 |
|  Tootsie Roll Industries, Inc. | 2833 | 118759 |
|  Vital Farms, Inc.\* | 5341 | 219782 |
|  Westrock Coffee Co.(x)\* | 6005 | 29184 |
|  |  | 2329284 |
|  ***Household Products (0.1%)*** |  |  |
|  Energizer Holdings, Inc. | 7950 | 197875 |
|  Oil-Dri Corp. of America | 1270 | 77521 |
|  WD-40 Co. | 2103 | 415553 |
|  |  | 690949 |
|  ***Personal Care Products (2.8%)*** |  |  |
|  Beauty Health Co. (The)\* | 15525 | 30895 |
|  FitLife Brands, Inc.\* | 545 | 10840 |
|  Herbalife Ltd.(x)\* | 11302 | 95389 |
|  Honest Co., Inc. (The)(x)\* | 7574 | 27872 |
|  Interparfums, Inc. | 2798 | 275267 |
|  Lifevantage Corp. | 1698 | 16522 |
|  Nature's Sunshine Products, Inc.\* | 374 | 5804 |
|  Oddity Tech Ltd., Class A\* | 197627 | 12312162 |
|  |  | 12774751 |
|  ***Tobacco (0.1%)*** |  |  |
|  Ispire Technology, Inc.\* | 2297 | 5880 |
|  Turning Point Brands, Inc. | 2318 | 229158 |
|  |  | 235038 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 17431142 |
|  **Energy (1.9%)** |  |  |
|  ***Energy Equipment & Services (0.6%)*** |  |  |
|  Archrock, Inc. | 25509 | 671142 |
|  Aris Water Solutions, Inc., Class A | 4720 | 116395 |
|  Atlas Energy Solutions, Inc.(x) | 8497 | 96611 |
|  Cactus, Inc., Class A | 10588 | 417908 |
|  DMC Global, Inc.\* | 1068 | 9025 |
|  Energy Services of America Corp. | 1870 | 19354 |
|  Flowco Holdings, Inc., Class A | 1641 | 24369 |
|  Helix Energy Solutions Group, Inc.\* | 5223 | 34263 |
|  Kodiak Gas Services, Inc.(x) | 10371 | 383416 |

---

See Notes to Portfolio of Investments.

709

------

**EQ ADVISORS TRUST** 

EQ/MORGAN STANLEY SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  National Energy Services Reunited Corp.\* | 1079 | $11071 |
|  Natural Gas Services Group, Inc. | 472 | 13211 |
|  Oceaneering International, Inc.\* | 12879 | 319142 |
|  Seadrill Ltd.\* | 3498 | 105675 |
|  Select Water Solutions, Inc., Class A | 731 | 7814 |
|  Solaris Energy Infrastructure, Inc., Class A | 5693 | 227549 |
|  Tidewater, Inc.\* | 7183 | 383069 |
|  |  | 2840014 |
|  ***Oil, Gas & Consumable Fuels (1.3%)*** |  |  |
|  Calumet, Inc.(x)\* | 69625 | 1270656 |
|  Centrus Energy Corp., Class A(x)\* | 1879 | 582622 |
|  Comstock Resources, Inc.(x)\* | 7550 | 149716 |
|  Core Natural Resources, Inc.(x) | 2824 | 235747 |
|  CVR Energy, Inc.\* | 4710 | 171821 |
|  Delek US Holdings, Inc. | 9183 | 296335 |
|  Empire Petroleum Corp.(x)\* | 1921 | 8683 |
|  Energy Fuels, Inc.\* | 8482 | 130199 |
|  Evolution Petroleum Corp.(x) | 4531 | 21839 |
|  FLEX LNG Ltd.(x) | 817 | 20588 |
|  Gulfport Energy Corp.\* | 2455 | 444306 |
|  Infinity Natural Resources, Inc., Class A(x)\* | 494 | 6476 |
|  Kinetik Holdings, Inc., Class A(x) | 5043 | 215538 |
|  Kolibri Global Energy, Inc.(x)\* | 1165 | 6466 |
|  Lightbridge Corp.\* | 3174 | 67321 |
|  Magnolia Oil & Gas Corp., Class A | 6008 | 143411 |
|  NextDecade Corp.\* | 19666 | 133532 |
|  OPAL Fuels, Inc., Class A\* | 2804 | 6169 |
|  Par Pacific Holdings, Inc.\* | 2268 | 80333 |
|  PrimeEnergy Resources Corp.(x)\* | 18 | 3007 |
|  REX American Resources Corp.\* | 1282 | 39255 |
|  Riley Exploration Permian, Inc. | 494 | 13392 |
|  Sable Offshore Corp.(x)\* | 59289 | 1035186 |
|  Uranium Energy Corp.(x)\* | 65591 | 874984 |
|  VAALCO Energy, Inc.(x) | 1156 | 4647 |
|  World Kinect Corp. | 1056 | 27403 |
|  |  | 5989632 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 8829646 |
|  **Financials (8.1%)** |  |  |
|  ***Banks (1.4%)*** |  |  |
|  Amerant Bancorp, Inc., Class A | 2491 | 48002 |
|  Arrow Financial Corp. | 257 | 7273 |
|  Axos Financial, Inc.\* | 1092 | 92438 |
|  Banc of California, Inc. | 1055 | 17460 |
|  BancFirst Corp. | 2958 | 374039 |
|  Bancorp, Inc. (The)\* | 7026 | 526177 |
|  Bank First Corp.(x) | 244 | 29600 |
|  Bank of Hawaii Corp. | 4762 | 312578 |
|  Bank7 Corp. | 12 | 555 |
|  Bankwell Financial Group, Inc. | 178 | 7876 |
|  Bridgewater Bancshares, Inc.\* | 1565 | 27544 |
|  California Bancorp\* | 477 | 7956 |
|  Capital Bancorp, Inc. | 430 | 13717 |
|  Carter Bankshares, Inc.\* | 629 | 12209 |
|  Citizens Financial Services, Inc. | 54 | 3255 |
|  City Holding Co. | 1377 | 170569 |
|  Coastal Financial Corp.\* | 1959 | 211905 |
|  Columbia Financial, Inc.\* | 331 | 4968 |
|  Community Financial System, Inc. | 1818 | 106608 |
|  Community West Bancshares | 554 | 11545 |
|  ConnectOne Bancorp, Inc. | 1668 | 41383 |
|  Customers Bancorp, Inc.\* | 378 | 24710 |
|  Dime Community Bancshares, Inc. | 1225 | 36542 |
|  Eagle Bancorp, Inc. | 971 | 19634 |
|  Esquire Financial Holdings, Inc. | 1108 | 113077 |
|  Finwise Bancorp\* | 831 | 16113 |
|  First Bancorp | 13520 | 298116 |
|  First Business Financial Services, Inc. | 62 | 3178 |
|  First Community Corp. | 305 | 8607 |
|  First Financial Bankshares, Inc. | 20803 | 700021 |
|  First Financial Corp. | 281 | 15860 |
|  First Internet Bancorp | 619 | 13884 |
|  First Merchants Corp. | 573 | 21602 |
|  First Western Financial, Inc.\* | 337 | 7759 |
|  Five Star Bancorp | 1602 | 51584 |
|  GBank Financial Holdings, Inc.(x)\* | 103 | 4045 |
|  Glacier Bancorp, Inc. | 3794 | 184654 |
|  Greene County Bancorp, Inc. | 773 | 17470 |
|  Guaranty Bancshares, Inc. | 148 | 7215 |
|  Hingham Institution For Savings (The)(x) | 18 | 4748 |
|  Hope Bancorp, Inc. | 1435 | 15455 |
|  International Bancshares Corp. | 887 | 60981 |
|  Lakeland Financial Corp. | 2109 | 135398 |
|  LINKBANCORP, Inc. | 899 | 6410 |
|  Live Oak Bancshares, Inc. | 2283 | 80407 |
|  Metrocity Bankshares, Inc. | 1918 | 53109 |
|  Metropolitan Bank Holding Corp. | 368 | 27534 |
|  NBT Bancorp, Inc. | 532 | 22216 |
|  Nicolet Bankshares, Inc. | 587 | 78952 |
|  Northeast Bank | 715 | 71614 |
|  Northfield Bancorp, Inc. | 869 | 10254 |
|  Northrim Bancorp, Inc. | 1788 | 38728 |
|  Old National Bancorp | 6494 | 142543 |
|  OP Bancorp(x) | 308 | 4287 |
|  Orange County Bancorp, Inc. | 505 | 12731 |
|  Origin Bancorp, Inc. | 300 | 10356 |
|  Pathward Financial, Inc. | 3663 | 271099 |
|  Patriot National Bancorp, Inc.(x)\* | 6864 | 8923 |
|  PCB Bancorp | 307 | 6447 |
|  Peapack-Gladstone Financial Corp. | 1037 | 28621 |
|  Peoples Financial Services Corp. | 213 | 10354 |
|  Princeton Bancorp, Inc. | 209 | 6655 |
|  Provident Financial Services, Inc. | 2404 | 46349 |
|  ServisFirst Bancshares, Inc. | 7968 | 641663 |
|  Shore Bancshares, Inc. | 548 | 8993 |
|  SmartFinancial, Inc. | 405 | 14471 |
|  Southern Missouri Bancorp, Inc. | 131 | 6885 |
|  Stock Yards Bancorp, Inc. | 3797 | 265752 |
|  Texas Capital Bancshares, Inc.\* | 935 | 79036 |
|  Triumph Financial, Inc.\* | 1536 | 76861 |
|  UMB Financial Corp. | 942 | 111486 |
|  Union Bankshares, Inc.(x) | 531 | 13148 |
|  Unity Bancorp, Inc. | 554 | 27074 |
|  USCB Financial Holdings, Inc. | 468 | 8167 |
|  Valley National Bancorp | 17911 | 189857 |
|  WesBanco, Inc. | 704 | 22479 |
|  West Bancorp, Inc. | 414 | 8412 |
|  |  | 6200183 |
|  ***Capital Markets (3.6%)*** |  |  |
|  Acadian Asset Management, Inc. | 4229 | 203669 |
|  Artisan Partners Asset Management, Inc., Class A | 5555 | 241087 |
|  Bakkt Holdings, Inc., Class A(x)\* | 244 | 8211 |
|  BGC Group, Inc., Class A | 56191 | 531567 |
|  Cantor Equity Partners, Inc.(r)\* | 196809 | 3743898 |
|  Churchill Capital Corp. X, Class A(r)\* | 337083 | 3684654 |
|  Cohen & Steers, Inc. | 4005 | 262768 |
|  Diamond Hill Investment Group, Inc. | 130 | 18201 |
|  Donnelley Financial Solutions, Inc.\* | 2984 | 153467 |

---

See Notes to Portfolio of Investments.

710

------

**EQ ADVISORS TRUST** 

EQ/MORGAN STANLEY SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  GCM Grosvenor, Inc., Class A(x) | 6991 | $84381 |
|  Gemini Space Station, Inc., Class A(x)\* | 104128 | 2494907 |
|  Marex Group plc | 5623 | 189045 |
|  Moelis & Co., Class A | 9732 | 694086 |
|  P10, Inc., Class A(x) | 8168 | 88868 |
|  Patria Investments Ltd., Class A(x) | 10073 | 147066 |
|  Perella Weinberg Partners, Class A | 9725 | 207337 |
|  Piper Sandler Cos. | 2713 | 941384 |
|  PJT Partners, Inc., Class A | 3578 | 635918 |
|  StepStone Group, Inc., Class A | 10808 | 705870 |
|  StoneX Group, Inc.\* | 7100 | 716532 |
|  Value Line, Inc. | 129 | 5041 |
|  Victory Capital Holdings, Inc., Class A | 6919 | 448074 |
|  WisdomTree, Inc.(x) | 18765 | 260834 |
|  |  | 16466865 |
|  ***Consumer Finance (0.6%)*** |  |  |
|  Atlanticus Holdings Corp.\* | 82 | 4803 |
|  Dave, Inc.\* | 1429 | 284871 |
|  Enova International, Inc.\* | 3729 | 429171 |
|  FirstCash Holdings, Inc. | 6121 | 969689 |
|  Jefferson Capital, Inc. | 473 | 8164 |
|  LendingTree, Inc.\* | 1532 | 99166 |
|  NerdWallet, Inc., Class A\* | 6171 | 66400 |
|  OppFi, Inc. | 3923 | 44448 |
|  Regional Management Corp. | 259 | 10091 |
|  Upstart Holdings, Inc.(x)\* | 12984 | 659587 |
|  |  | 2576390 |
|  ***Financial Services (1.6%)*** |  |  |
|  AvidXchange Holdings, Inc.\* | 26327 | 261954 |
|  Burford Capital Ltd. | 319607 | 3822500 |
|  Cantaloupe, Inc.\* | 9292 | 98217 |
|  Cass Information Systems, Inc. | 1740 | 68434 |
|  Evertec, Inc. | 9868 | 333341 |
|  Federal Agricultural Mortgage Corp., Class C | 1324 | 222406 |
|  Flywire Corp.\* | 16084 | 217777 |
|  International Money Express, Inc.\* | 4249 | 59359 |
|  Marqeta, Inc., Class A\* | 26169 | 138172 |
|  NCR Atleos Corp.\* | 11284 | 443574 |
|  Pagseguro Digital Ltd., Class A | 17174 | 171740 |
|  Payoneer Global, Inc.\* | 42946 | 259823 |
|  Paysign, Inc.\* | 5873 | 36941 |
|  Priority Technology Holdings, Inc.\* | 4228 | 29046 |
|  Remitly Global, Inc.\* | 25739 | 419546 |
|  Sezzle, Inc.\* | 2281 | 181408 |
|  StoneCo Ltd., Class A\* | 38686 | 731552 |
|  |  | 7495790 |
|  ***Insurance (0.9%)*** |  |  |
|  Abacus Global Management, Inc.\* | 1829 | 10480 |
|  American Coastal Insurance Corp. | 2191 | 24955 |
|  American Integrity Insurance Group, Inc.\* | 338 | 7541 |
|  AMERISAFE, Inc. | 1559 | 68347 |
|  Aspen Insurance Holdings Ltd., Class A\* | 1468 | 53890 |
|  Ategrity Specialty Holdings LLC\* | 335 | 6623 |
|  Baldwin Insurance Group, Inc. (The), Class A(x)\* | 10857 | 306276 |
|  Bowhead Specialty Holdings, Inc.\* | 2578 | 69709 |
|  Crawford & Co., Class A | 2841 | 30399 |
|  F&G Annuities & Life, Inc. | 161 | 5034 |
|  Goosehead Insurance, Inc., Class A | 2995 | 222888 |
|  HCI Group, Inc. | 1590 | 305169 |
|  Heritage Insurance Holdings, Inc.\* | 2813 | 70831 |
|  Hippo Holdings, Inc.(x)\* | 1572 | 56844 |
|  Investors Title Co. | 32 | 8571 |
|  Kestrel Group Ltd. | 259 | 7073 |
|  Kingstone Cos., Inc. | 1681 | 24711 |
|  Kingsway Financial Services, Inc.(x)\* | 3409 | 49840 |
|  Lemonade, Inc.(x)\* | 8578 | 459180 |
|  Oscar Health, Inc., Class A(x)\* | 29908 | 566158 |
|  Palomar Holdings, Inc.\* | 4069 | 475056 |
|  Root, Inc., Class A(x)\* | 1731 | 154942 |
|  Selective Insurance Group, Inc. | 8263 | 669881 |
|  Selectquote, Inc.\* | 15959 | 31280 |
|  SiriusPoint Ltd.\* | 893 | 16154 |
|  Skyward Specialty Insurance Group, Inc.\* | 5518 | 262436 |
|  Slide Insurance Holdings, Inc.\* | 1217 | 19210 |
|  Tiptree, Inc., Class A | 1192 | 22851 |
|  Trupanion, Inc.\* | 5735 | 248211 |
|  Universal Insurance Holdings, Inc. | 1034 | 27194 |
|  |  | 4281734 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.0%)†*** |  |  |
|  Angel Oak Mortgage REIT, Inc. (REIT) | 604 | 5659 |
|  Apollo Commercial Real Estate Finance, Inc. (REIT)(x) | 10350 | 104846 |
|  Two Harbors Investment Corp. (REIT)(x) | 8785 | 86708 |
|  |  | 197213 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 37218175 |
|  **Health Care (20.6%)** |  |  |
|  ***Biotechnology (11.7%)*** |  |  |
|  89bio, Inc.\* | 6461 | 94977 |
|  Abeona Therapeutics, Inc.(x)\* | 6687 | 35307 |
|  Absci Corp.(x)\* | 16618 | 50519 |
|  ACADIA Pharmaceuticals, Inc.\* | 19184 | 409387 |
|  Actuate Therapeutics, Inc.\* | 976 | 6529 |
|  ADC Therapeutics SA\* | 11741 | 46964 |
|  ADMA Biologics, Inc.\* | 35576 | 521544 |
|  Akebia Therapeutics, Inc.(x)\* | 2591 | 7073 |
|  Akero Therapeutics, Inc.\* | 10764 | 511075 |
|  Aldeyra Therapeutics, Inc.\* | 7154 | 37344 |
|  Alector, Inc.\* | 1562 | 4624 |
|  Alkermes plc\* | 18842 | 565260 |
|  Altimmune, Inc.(x)\* | 12548 | 47306 |
|  Amicus Therapeutics, Inc.\* | 42873 | 337839 |
|  AnaptysBio, Inc.\* | 2881 | 88216 |
|  Anavex Life Sciences Corp.(x)\* | 12783 | 113769 |
|  Apogee Therapeutics, Inc.\* | 4994 | 198412 |
|  Arbutus Biopharma Corp.(x)\* | 1337195 | 6070865 |
|  Arcellx, Inc.\* | 5271 | 432749 |
|  Arcturus Therapeutics Holdings, Inc.(x)\* | 1609 | 29654 |
|  Arcus Biosciences, Inc.\* | 7773 | 105713 |
|  Arcutis Biotherapeutics, Inc.\* | 16502 | 311063 |
|  Ardelyx, Inc.\* | 36665 | 202024 |
|  ArriVent Biopharma, Inc.(x)\* | 3742 | 69040 |
|  Arrowhead Pharmaceuticals, Inc.\* | 18567 | 640376 |
|  ARS Pharmaceuticals, Inc.(x)\* | 8896 | 89405 |
|  aTyr Pharma, Inc.(x)\* | 13155 | 9490 |
|  Aura Biosciences, Inc.(x)\* | 1934 | 11952 |
|  Aurinia Pharmaceuticals, Inc.\* | 17680 | 195364 |
|  Avidity Biosciences, Inc.\* | 14409 | 627800 |
|  Avita Medical, Inc.(x)\* | 1696 | 8667 |
|  Beam Therapeutics, Inc.(x)\* | 40394 | 980362 |
|  Benitec Biopharma, Inc.\* | 2321 | 32564 |
|  Bicara Therapeutics, Inc.(x)\* | 364 | 5748 |
|  BioCryst Pharmaceuticals, Inc.\* | 32274 | 244960 |
|  Biohaven Ltd.\* | 14114 | 211851 |

---

See Notes to Portfolio of Investments.

711

------

**EQ ADVISORS TRUST** 

EQ/MORGAN STANLEY SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Bridgebio Pharma, Inc.\* | 24088 | $1251131 |
|  Bright Minds Biosciences, Inc.\* | 732 | 44403 |
|  Candel Therapeutics, Inc.(x)\* | 5790 | 29529 |
|  Capricor Therapeutics, Inc.(x)\* | 6244 | 45019 |
|  Cardiff Oncology, Inc.(x)\* | 3999 | 8238 |
|  CareDx, Inc.\* | 8342 | 121293 |
|  Cartesian Therapeutics, Inc.(x)\* | 251 | 2565 |
|  Catalyst Pharmaceuticals, Inc.\* | 17752 | 349714 |
|  Celcuity, Inc.(x)\* | 4305 | 212667 |
|  CG oncology, Inc.\* | 8577 | 345482 |
|  Cogent Biosciences, Inc.\* | 18619 | 267369 |
|  Coherus Oncology, Inc.(x)\* | 4547 | 7457 |
|  Compass Therapeutics, Inc.\* | 7902 | 27657 |
|  Corvus Pharmaceuticals, Inc.(x)\* | 8723 | 64288 |
|  Cytokinetics, Inc.\* | 1964 | 107941 |
|  Day One Biopharmaceuticals, Inc.\* | 720 | 5076 |
|  Denali Therapeutics, Inc.\* | 1298 | 18847 |
|  DiaMedica Therapeutics, Inc.\* | 5169 | 35511 |
|  Dianthus Therapeutics, Inc.\* | 261 | 10270 |
|  Disc Medicine, Inc.\* | 3520 | 232602 |
|  Dynavax Technologies Corp.\* | 15811 | 157003 |
|  Dyne Therapeutics, Inc.\* | 5423 | 68601 |
|  Eledon Pharmaceuticals, Inc.(x)\* | 813 | 2106 |
|  Fennec Pharmaceuticals, Inc.\* | 1190 | 11138 |
|  Foghorn Therapeutics, Inc.\* | 3632 | 17760 |
|  Geron Corp.\* | 85048 | 116516 |
|  Gossamer Bio, Inc.\* | 28138 | 74003 |
|  GRAIL, Inc.(x)\* | 17239 | 1019342 |
|  Greenwich Lifesciences, Inc.(x)\* | 902 | 8975 |
|  Gyre Therapeutics, Inc.(x)\* | 1298 | 9683 |
|  Heron Therapeutics, Inc.(x)\* | 1783 | 2247 |
|  Humacyte, Inc.(x)\* | 4947 | 8608 |
|  ImmunityBio, Inc.(x)\* | 28090 | 69101 |
|  Immunome, Inc.\* | 11738 | 137452 |
|  Immunovant, Inc.\* | 91772 | 1479365 |
|  Inmune Bio, Inc.(x)\* | 2734 | 5659 |
|  Intellia Therapeutics, Inc.(x)\* | 163054 | 2815943 |
|  Ironwood Pharmaceuticals, Inc., Class A\* | 23448 | 30717 |
|  Janux Therapeutics, Inc.\* | 2066 | 50493 |
|  KalVista Pharmaceuticals, Inc.\* | 5925 | 72166 |
|  Krystal Biotech, Inc.\* | 3816 | 673638 |
|  Kymera Therapeutics, Inc.\* | 7761 | 439273 |
|  Madrigal Pharmaceuticals, Inc.\* | 2864 | 1313602 |
|  MannKind Corp.\* | 46216 | 248180 |
|  MeiraGTx Holdings plc(x)\* | 5189 | 42705 |
|  Metsera, Inc.(x)\* | 4569 | 239096 |
|  MiMedx Group, Inc.\* | 18148 | 126673 |
|  Mineralys Therapeutics, Inc.\* | 5964 | 226155 |
|  Mirum Pharmaceuticals, Inc.\* | 6218 | 455842 |
|  Monopar Therapeutics, Inc.\* | 525 | 42877 |
|  Novavax, Inc.(x)\* | 18643 | 161635 |
|  Nuvalent, Inc., Class A\* | 6619 | 572411 |
|  Nuvectis Pharma, Inc.\* | 2049 | 12335 |
|  Organogenesis Holdings, Inc., Class A(x)\* | 11030 | 46547 |
|  ORIC Pharmaceuticals, Inc.(x)\* | 2751 | 33012 |
|  Palvella Therapeutics, Inc.\* | 1028 | 64445 |
|  Praxis Precision Medicines, Inc.\* | 244 | 12932 |
|  Precigen, Inc.(x)\* | 22594 | 74334 |
|  ProKidney Corp., Class A(x)\* | 165366 | 400186 |
|  Protagonist Therapeutics, Inc.\* | 8961 | 595279 |
|  Protalix BioTherapeutics, Inc.(x)\* | 11071 | 24578 |
|  Prothena Corp. plc\* | 629 | 6139 |
|  PTC Therapeutics, Inc.\* | 9718 | 596394 |
|  Recursion Pharmaceuticals, Inc., Class A(x)\* | 106267 | 518583 |
|  Rezolute, Inc.\* | 10429 | 98033 |
|  Rhythm Pharmaceuticals, Inc.\* | 8048 | 812768 |
|  Rigel Pharmaceuticals, Inc.\* | 2616 | 74111 |
|  Rocket Pharmaceuticals, Inc.\* | 2193 | 7149 |
|  Roivant Sciences Ltd.\* | 915826 | 13856447 |
|  Sana Biotechnology, Inc.(x)\* | 2649 | 9404 |
|  Savara, Inc.(x)\* | 17901 | 63907 |
|  Scholar Rock Holding Corp.(x)\* | 11493 | 427999 |
|  SELLAS Life Sciences Group, Inc.(x)\* | 15425 | 24834 |
|  Sionna Therapeutics, Inc.(x)\* | 1982 | 58291 |
|  Soleno Therapeutics, Inc.\* | 6431 | 434736 |
|  Spyre Therapeutics, Inc.(x)\* | 5000 | 83800 |
|  Stoke Therapeutics, Inc.(x)\* | 6744 | 158484 |
|  Syndax Pharmaceuticals, Inc.\* | 12201 | 187712 |
|  Taysha Gene Therapies, Inc.\* | 33016 | 107962 |
|  Tectonic Therapeutic, Inc.\* | 309 | 4848 |
|  Tevogen Bio Holdings, Inc.(x)\* | 4688 | 3681 |
|  TG Therapeutics, Inc.(x)\* | 22360 | 807755 |
|  Travere Therapeutics, Inc.\* | 12686 | 303195 |
|  TriSalus Life Sciences, Inc.\* | 746 | 3469 |
|  TuHURA Biosciences, Inc.\* | 3954 | 9806 |
|  Twist Bioscience Corp.\* | 9103 | 256158 |
|  UroGen Pharma Ltd.(x)\* | 4251 | 84807 |
|  Vera Therapeutics, Inc., Class A\* | 7784 | 226203 |
|  Veracyte, Inc.\* | 12055 | 413848 |
|  Verastem, Inc.\* | 4213 | 37201 |
|  Vericel Corp.\* | 7732 | 243326 |
|  Viridian Therapeutics, Inc.\* | 8557 | 184660 |
|  Xenon Pharmaceuticals, Inc.\* | 11703 | 469875 |
|  XOMA Royalty Corp.(x)\* | 116272 | 4481123 |
|  Zymeworks, Inc.\* | 7538 | 128749 |
|  |  | 53690921 |
|  ***Health Care Equipment & Supplies (2.8%)*** |  |  |
|  Accuray, Inc.\* | 16569 | 27670 |
|  Alphatec Holdings, Inc.\* | 17885 | 260048 |
|  AngioDynamics, Inc.\* | 1391 | 15538 |
|  Anteris Technologies Global Corp.(x)\* | 5180 | 23310 |
|  Artivion, Inc.\* | 4739 | 200649 |
|  AtriCure, Inc.\* | 7454 | 262754 |
|  Axogen, Inc.\* | 6379 | 113801 |
|  Beta Bionics, Inc.(x)\* | 5270 | 104715 |
|  Bioventus, Inc., Class A(x)\* | 7437 | 49754 |
|  Butterfly Network, Inc., Class A(x)\* | 31069 | 59963 |
|  Carlsmed, Inc.(x)\* | 613 | 8208 |
|  Ceribell, Inc.\* | 4025 | 46247 |
|  Cerus Corp.\* | 30290 | 48161 |
|  ClearPoint Neuro, Inc.(x)\* | 4212 | 91780 |
|  CVRx, Inc.(x)\* | 2511 | 20264 |
|  Delcath Systems, Inc.\* | 4874 | 52396 |
|  Electromed, Inc.\* | 1105 | 27128 |
|  Embecta Corp. | 1202 | 16960 |
|  Glaukos Corp.\* | 8615 | 702553 |
|  Haemonetics Corp.\* | 7421 | 361700 |
|  ICU Medical, Inc.(x)\* | 2790 | 334688 |
|  Integer Holdings Corp.\* | 5298 | 547442 |
|  iRadimed Corp. | 1164 | 82830 |
|  iRhythm Technologies, Inc.\* | 4913 | 844987 |
|  Kestra Medical Technologies Ltd.(x)\* | 1833 | 43552 |
|  KORU Medical Systems, Inc.\* | 6730 | 25776 |
|  Lantheus Holdings, Inc.\* | 10499 | 538494 |
|  LeMaitre Vascular, Inc. | 3178 | 278107 |
|  LENSAR, Inc.(x)\* | 1524 | 18821 |
|  Lucid Diagnostics, Inc.(x)\* | 5416 | 5470 |
|  Merit Medical Systems, Inc.\* | 8360 | 695803 |
|  Myomo, Inc.(x)\* | 5181 | 4621 |

---

See Notes to Portfolio of Investments.

712

------

**EQ ADVISORS TRUST** 

EQ/MORGAN STANLEY SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Neuronetics, Inc.(x)\* | 5834 | $15927 |
|  NeuroPace, Inc.\* | 3883 | 40034 |
|  Novocure Ltd.\* | 15343 | 198232 |
|  OrthoPediatrics Corp.\* | 643 | 11915 |
|  Outset Medical, Inc.(x)\* | 17286 | 244078 |
|  PROCEPT BioRobotics Corp.\* | 8089 | 288696 |
|  Pro-Dex, Inc.(x)\* | 338 | 11441 |
|  Pulmonx Corp.\* | 6104 | 9889 |
|  Pulse Biosciences, Inc.(x)\* | 2794 | 49454 |
|  QuidelOrtho Corp.\* | 4505 | 132672 |
|  RxSight, Inc.\* | 5382 | 48384 |
|  Sanara Medtech, Inc.\* | 571 | 18118 |
|  SANUWAVE Health, Inc.\* | 1132 | 42427 |
|  Semler Scientific, Inc.(x)\* | 154344 | 4630320 |
|  Shoulder Innovations, Inc.(x)\* | 459 | 5760 |
|  SI-BONE, Inc.\* | 5673 | 83507 |
|  Sight Sciences, Inc.\* | 6812 | 23433 |
|  STAAR Surgical Co.\* | 6458 | 173527 |
|  Stereotaxis, Inc.\* | 7720 | 24009 |
|  Surmodics, Inc.\* | 2238 | 66894 |
|  Tandem Diabetes Care, Inc.\* | 9723 | 118037 |
|  TransMedics Group, Inc.(x)\* | 5105 | 572781 |
|  Treace Medical Concepts, Inc.\* | 7795 | 52304 |
|  UFP Technologies, Inc.\* | 1155 | 230538 |
|  |  | 13006567 |
|  ***Health Care Providers & Services (3.1%)*** |  |  |
|  Addus HomeCare Corp.\* | 1353 | 159640 |
|  agilon health, Inc.\* | 3273179 | 3371374 |
|  AirSculpt Technologies, Inc.(x)\* | 2171 | 17411 |
|  Alignment Healthcare, Inc.\* | 22522 | 393009 |
|  Ardent Health, Inc.\* | 243 | 3220 |
|  Astrana Health, Inc.\* | 6132 | 173842 |
|  Aveanna Healthcare Holdings, Inc.\* | 5054 | 44829 |
|  BrightSpring Health Services, Inc.\* | 14483 | 428117 |
|  Brookdale Senior Living, Inc.\* | 31676 | 268296 |
|  Clover Health Investments Corp., Class A(x)\* | 60920 | 186415 |
|  Community Health Systems, Inc.\* | 13336 | 42809 |
|  Concentra Group Holdings Parent, Inc. | 16999 | 355789 |
|  CorVel Corp.\* | 4475 | 346454 |
|  Ensign Group, Inc. (The) | 8665 | 1497052 |
|  GeneDx Holdings Corp., Class A\* | 2879 | 310183 |
|  Guardant Health, Inc.\* | 18397 | 1149445 |
|  HealthEquity, Inc.\* | 13145 | 1245752 |
|  Hims & Hers Health, Inc.\* | 29355 | 1665016 |
|  Innovage Holding Corp.\* | 944 | 4871 |
|  Joint Corp. (The)\* | 2392 | 22820 |
|  LifeStance Health Group, Inc.\* | 10930 | 60115 |
|  Nano-X Imaging Ltd.(x)\* | 2554 | 9450 |
|  National Research Corp. | 1965 | 25113 |
|  NeoGenomics, Inc.\* | 2102 | 16227 |
|  Nutex Health, Inc.(x)\* | 552 | 57033 |
|  Omada Health, Inc.(x)\* | 868 | 19191 |
|  Oncology Institute, Inc. (The)(x)\* | 9392 | 32778 |
|  Option Care Health, Inc.\* | 25405 | 705243 |
|  PACS Group, Inc.\* | 6135 | 84233 |
|  Pennant Group, Inc. (The)\* | 5122 | 129177 |
|  Performant Healthcare, Inc.(x)\* | 8359 | 64615 |
|  Privia Health Group, Inc.\* | 17749 | 441950 |
|  Progyny, Inc.\* | 11428 | 245931 |
|  RadNet, Inc.\* | 8510 | 648547 |
|  Sonida Senior Living, Inc.\* | 544 | 15080 |
|  Talkspace, Inc.\* | 18018 | 49730 |
|  US Physical Therapy, Inc. | 1394 | 118420 |
|  Viemed Healthcare, Inc.\* | 4916 | 33380 |
|  |  | 14442557 |
|  ***Health Care Technology (0.4%)*** |  |  |
|  Claritev Corp.\* | 1113 | 59078 |
|  Evolent Health, Inc., Class A\* | 6211 | 52545 |
|  HealthStream, Inc. | 1652 | 46653 |
|  LifeMD, Inc.(x)\* | 4196 | 28491 |
|  OptimizeRx Corp.\* | 2037 | 41759 |
|  Phreesia, Inc.\* | 8948 | 210457 |
|  Schrodinger, Inc.\* | 31636 | 634618 |
|  Simulations Plus, Inc.(x)\* | 2763 | 41638 |
|  Teladoc Health, Inc.\* | 5647 | 43651 |
|  TruBridge, Inc.\* | 1608 | 32433 |
|  Waystar Holding Corp.\* | 14283 | 541611 |
|  |  | 1732934 |
|  ***Life Sciences Tools & Services (0.8%)*** |  |  |
|  10X Genomics, Inc., Class A\* | 51829 | 605881 |
|  Adaptive Biotechnologies Corp.\* | 23058 | 344948 |
|  Alpha Teknova, Inc.\* | 1623 | 10046 |
|  Atlantic International Corp.(x)\* | 1661 | 5066 |
|  BioLife Solutions, Inc.\* | 5874 | 149846 |
|  Codexis, Inc.\* | 10779 | 26301 |
|  CryoPort, Inc.\* | 1807 | 17130 |
|  Ginkgo Bioworks Holdings, Inc., Class A(x)\* | 14201 | 207051 |
|  Lifecore Biomedical, Inc.(x)\* | 3202 | 23567 |
|  MaxCyte, Inc.\* | 387859 | 612817 |
|  Mesa Laboratories, Inc. | 835 | 55953 |
|  Niagen Bioscience, Inc.\* | 7909 | 73791 |
|  OmniAb, Inc.\* | 1487 | 2379 |
|  Quanterix Corp.\* | 1174 | 6375 |
|  Standard BioTools, Inc.\* | 979257 | 1273034 |
|  |  | 3414185 |
|  ***Pharmaceuticals (1.8%)*** |  |  |
|  Aardvark Therapeutics, Inc.\* | 502 | 6672 |
|  Amneal Pharmaceuticals, Inc.\* | 19720 | 197397 |
|  Amphastar Pharmaceuticals, Inc.\* | 424 | 11300 |
|  Amylyx Pharmaceuticals, Inc.\* | 8256 | 112199 |
|  ANI Pharmaceuticals, Inc.\* | 2789 | 255472 |
|  Aquestive Therapeutics, Inc.(x)\* | 4982 | 27849 |
|  Arvinas, Inc.\* | 1122 | 9559 |
|  ATAI Life Sciences NV(x)\* | 465285 | 2461358 |
|  Avadel Pharmaceuticals plc (ADR)\* | 13700 | 209199 |
|  Axsome Therapeutics, Inc.\* | 6233 | 756998 |
|  Biote Corp., Class A(x)\* | 1559 | 4677 |
|  Collegium Pharmaceutical, Inc.\* | 4877 | 170646 |
|  CorMedix, Inc.(x)\* | 11075 | 128802 |
|  Crinetics Pharmaceuticals, Inc.\* | 13912 | 579435 |
|  Edgewise Therapeutics, Inc.\* | 10561 | 171299 |
|  Enliven Therapeutics, Inc.(x)\* | 6514 | 133342 |
|  Esperion Therapeutics, Inc.(x)\* | 10235 | 27123 |
|  Eton Pharmaceuticals, Inc.(x)\* | 3841 | 83465 |
|  Evolus, Inc.\* | 8762 | 53799 |
|  Fulcrum Therapeutics, Inc.\* | 747 | 6872 |
|  Harmony Biosciences Holdings, Inc.\* | 6599 | 181868 |
|  Harrow, Inc.(x)\* | 4806 | 231553 |
|  Indivior plc\* | 15908 | 383542 |
|  Innoviva, Inc.\* | 8498 | 155088 |
|  Journey Medical Corp.(x)\* | 1915 | 13635 |
|  LENZ Therapeutics, Inc.(x)\* | 2532 | 117941 |
|  Ligand Pharmaceuticals, Inc.\* | 356 | 63062 |
|  Liquidia Corp.\* | 10047 | 228469 |
|  Maze Therapeutics, Inc.(x)\* | 184 | 4771 |
|  MediWound Ltd.(x)\* | 1176 | 21192 |
|  Mind Medicine MindMed, Inc.(x)\* | 3886 | 45816 |
|  Nuvation Bio, Inc.(x)\* | 3342 | 12365 |
|  Ocular Therapeutix, Inc.\* | 21657 | 253170 |
|  Omeros Corp.(x)\* | 8105 | 33231 |

---

See Notes to Portfolio of Investments.

713

------

**EQ ADVISORS TRUST** 

EQ/MORGAN STANLEY SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Pacira BioSciences, Inc.\* | 653 | $16828 |
|  Phathom Pharmaceuticals, Inc.(x)\* | 1848 | 21751 |
|  Phibro Animal Health Corp., Class A | 3136 | 126883 |
|  Prestige Consumer Healthcare, Inc.\* | 1352 | 84365 |
|  scPharmaceuticals, Inc.\* | 6094 | 34553 |
|  SIGA Technologies, Inc. | 5424 | 49630 |
|  Supernus Pharmaceuticals, Inc.\* | 752 | 35938 |
|  Tarsus Pharmaceuticals, Inc.\* | 6033 | 358541 |
|  Theravance Biopharma, Inc.\* | 4903 | 71584 |
|  Trevi Therapeutics, Inc.\* | 13703 | 125382 |
|  WaVe Life Sciences Ltd.\* | 15135 | 110788 |
|  Xeris Biopharma Holdings, Inc.\* | 23379 | 190305 |
|  Zevra Therapeutics, Inc.(x)\* | 8095 | 76983 |
|  |  | 8456697 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 94743861 |
|  **Industrials (11.7%)** |  |  |
|  ***Aerospace & Defense (1.5%)*** |  |  |
|  AAR Corp.\* | 1362 | 122131 |
|  AeroVironment, Inc.\* | 4917 | 1548314 |
|  AIRO Group Holdings, Inc.\* | 478 | 9178 |
|  Archer Aviation, Inc., Class A(x)\* | 84849 | 812853 |
|  Astronics Corp.\* | 4309 | 196533 |
|  Byrna Technologies, Inc.(x)\* | 2936 | 65062 |
|  Cadre Holdings, Inc. | 4398 | 160571 |
|  Eve Holding, Inc.(x)\* | 8094 | 30838 |
|  Intuitive Machines, Inc.(x)\* | 1023 | 10762 |
|  Kratos Defense & Security Solutions, Inc.\* | 25688 | 2347113 |
|  Mercury Systems, Inc.\* | 1846 | 142880 |
|  Moog, Inc., Class A | 4337 | 900665 |
|  Park Aerospace Corp. | 1302 | 26483 |
|  Redwire Corp.(x)\* | 7658 | 68845 |
|  Satellogic, Inc., Class A(x)\* | 8760 | 28733 |
|  V2X, Inc.\* | 209 | 12141 |
|  Voyager Technologies, Inc., Class A(x)\* | 1480 | 44074 |
|  VSE Corp. | 2699 | 448682 |
|  |  | 6975858 |
|  ***Air Freight & Logistics (0.0%)†*** |  |  |
|  Forward Air Corp.(x)\* | 1150 | 29486 |
|  ***Building Products (0.7%)*** |  |  |
|  AZZ, Inc. | 4589 | 500798 |
|  CSW Industrials, Inc. | 2510 | 609303 |
|  Griffon Corp. | 5918 | 450656 |
|  Insteel Industries, Inc. | 1651 | 63299 |
|  Janus International Group, Inc.\* | 7497 | 73995 |
|  Tecnoglass, Inc. | 3753 | 251113 |
|  UFP Industries, Inc. | 528 | 49363 |
|  Zurn Elkay Water Solutions Corp. | 23182 | 1090249 |
|  |  | 3088776 |
|  ***Commercial Services & Supplies (0.7%)*** |  |  |
|  ACV Auctions, Inc., Class A\* | 25880 | 256471 |
|  Brink's Co. (The) | 6482 | 757486 |
|  Casella Waste Systems, Inc., Class A\* | 9663 | 916825 |
|  CECO Environmental Corp.\* | 4463 | 228506 |
|  Cimpress plc\* | 525 | 33096 |
|  CompX International, Inc. | 195 | 4563 |
|  CoreCivic, Inc.\* | 2701 | 54965 |
|  Driven Brands Holdings, Inc.\* | 9124 | 146988 |
|  GEO Group, Inc. (The)\* | 20847 | 427155 |
|  Healthcare Services Group, Inc.\* | 4919 | 82787 |
|  HNI Corp. | 3923 | 183793 |
|  Interface, Inc., Class A | 1094 | 31660 |
|  Liquidity Services, Inc.\* | 3511 | 96307 |
|  Perma-Fix Environmental Services, Inc.(x)\* | 516 | 5212 |
|  Pitney Bowes, Inc.(x) | 6455 | 73651 |
|  Quad/Graphics, Inc. | 3665 | 22943 |
|  |  | 3322408 |
|  ***Construction & Engineering (1.7%)*** |  |  |
|  Arcosa, Inc. | 2112 | 197916 |
|  Argan, Inc. | 2043 | 551712 |
|  Bowman Consulting Group Ltd., Class A\* | 2084 | 88278 |
|  Centuri Holdings, Inc.\* | 10695 | 226413 |
|  Construction Partners, Inc., Class A\* | 7234 | 918718 |
|  Dycom Industries, Inc.\* | 4320 | 1260403 |
|  Granite Construction, Inc.(x) | 5814 | 637505 |
|  IES Holdings, Inc.(x)\* | 1394 | 554324 |
|  Limbach Holdings, Inc.\* | 1585 | 153935 |
|  Matrix Service Co.\* | 964 | 12609 |
|  MYR Group, Inc.\* | 2377 | 494488 |
|  Orion Group Holdings, Inc.\* | 1054 | 8769 |
|  Primoris Services Corp. | 7806 | 1071998 |
|  Sterling Infrastructure, Inc.(x)\* | 4598 | 1561849 |
|  |  | 7738917 |
|  ***Electrical Equipment (1.6%)*** |  |  |
|  Allient, Inc. | 125 | 5594 |
|  American Superconductor Corp.\* | 6731 | 399754 |
|  Amprius Technologies, Inc.(x)\* | 14281 | 150236 |
|  Array Technologies, Inc.(x)\* | 5363 | 43708 |
|  Bloom Energy Corp., Class A\* | 33071 | 2796815 |
|  Complete Solaria, Inc.(x)\* | 2517 | 4430 |
|  EnerSys | 362 | 40892 |
|  Enovix Corp.(x)\* | 25003 | 249280 |
|  Eos Energy Enterprises, Inc.(x)\* | 39188 | 446351 |
|  Fluence Energy, Inc., Class A(x)\* | 9225 | 99630 |
|  KULR Technology Group, Inc.(x)\* | 5309 | 22085 |
|  LSI Industries, Inc. | 3267 | 77134 |
|  NANO Nuclear Energy, Inc.\* | 4588 | 176913 |
|  NEXTracker, Inc., Class A\* | 17985 | 1330710 |
|  NuScale Power Corp., Class A(x)\* | 19530 | 703080 |
|  Powell Industries, Inc.(x) | 1471 | 448376 |
|  Power Solutions International, Inc.\* | 911 | 89478 |
|  Preformed Line Products Co. | 26 | 5100 |
|  Shoals Technologies Group, Inc., Class A\* | 4421 | 32760 |
|  SKYX Platforms Corp.(x)\* | 9589 | 10740 |
|  Thermon Group Holdings, Inc.\* | 621 | 16593 |
|  Vicor Corp.\* | 3652 | 181577 |
|  |  | 7331236 |
|  ***Ground Transportation (0.1%)*** |  |  |
|  Covenant Logistics Group, Inc., Class A | 390 | 8447 |
|  FTAI Infrastructure, Inc.(x) | 17268 | 75289 |
|  Hertz Global Holdings, Inc.(x)\* | 18118 | 123202 |
|  RXO, Inc.\* | 1632 | 25100 |
|  Werner Enterprises, Inc. | 1492 | 39270 |
|  |  | 271308 |
|  ***Industrial Conglomerates (0.0%)†*** |  |  |
|  Brookfield Business Corp., Class A | 1350 | 45265 |
|  ***Machinery (2.5%)*** |  |  |
|  Aebi Schmidt Holding AG | 383 | 4776 |
|  Alamo Group, Inc. | 481 | 91823 |
|  Albany International Corp., Class A | 1482 | 78990 |
|  Atmus Filtration Technologies, Inc. | 11625 | 524171 |
|  Blue Bird Corp.\* | 4855 | 279405 |
|  Chart Industries, Inc.\* | 6971 | 1395246 |
|  Douglas Dynamics, Inc. | 2976 | 93030 |
|  Energy Recovery, Inc.\* | 8168 | 125950 |

---

See Notes to Portfolio of Investments.

714

------

**EQ ADVISORS TRUST** 

EQ/MORGAN STANLEY SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Enerpac Tool Group Corp., Class A | 8280 | $339480 |
|  Enpro, Inc. | 410 | 92660 |
|  ESCO Technologies, Inc. | 4007 | 845918 |
|  Federal Signal Corp. | 9261 | 1101966 |
|  Franklin Electric Co., Inc. | 6144 | 584909 |
|  Gorman-Rupp Co. (The) | 3193 | 148187 |
|  Graham Corp.\* | 1573 | 86358 |
|  JBT Marel Corp. | 3884 | 545508 |
|  Kadant, Inc. | 1816 | 540405 |
|  Lindsay Corp. | 1628 | 228832 |
|  Mayville Engineering Co., Inc.\* | 25 | 344 |
|  Microvast Holdings, Inc.(x)\* | 18836 | 72519 |
|  Mueller Water Products, Inc., Class A | 23987 | 612148 |
|  Omega Flex, Inc. | 594 | 18524 |
|  REV Group, Inc. | 7489 | 424402 |
|  Richtech Robotics, Inc., Class B(x)\* | 11157 | 47863 |
|  SPX Technologies, Inc.\* | 7436 | 1388896 |
|  Standex International Corp. | 1499 | 317638 |
|  Trinity Industries, Inc. | 5922 | 166053 |
|  Watts Water Technologies, Inc., Class A | 4238 | 1183589 |
|  Worthington Enterprises, Inc. | 1537 | 85288 |
|  |  | 11424878 |
|  ***Marine Transportation (0.0%)†*** |  |  |
|  Costamare Bulkers Holdings Ltd.\* | 88 | 1265 |
|  ***Passenger Airlines (1.0%)*** |  |  |
|  Allegiant Travel Co.\* | 431 | 26192 |
|  Frontier Group Holdings, Inc.\* | 9324 | 41166 |
|  Joby Aviation, Inc.(x)\* | 294709 | 4756603 |
|  Sun Country Airlines Holdings, Inc.\* | 4203 | 49637 |
|  |  | 4873598 |
|  ***Professional Services (1.4%)*** |  |  |
|  Acuren Corp.\* | 5887 | 78356 |
|  Barrett Business Services, Inc. | 3862 | 171164 |
|  BlackSky Technology, Inc., Class A(x)\* | 4887 | 98473 |
|  CBIZ, Inc.(x)\* | 7601 | 402549 |
|  CRA International, Inc. | 1015 | 211658 |
|  CSG Systems International, Inc. | 3810 | 245288 |
|  Exponent, Inc. | 7810 | 542639 |
|  First Advantage Corp.(x)\* | 8307 | 127845 |
|  Franklin Covey Co.\* | 1464 | 28416 |
|  Huron Consulting Group, Inc.\* | 2618 | 384244 |
|  IBEX Holdings Ltd.\* | 1585 | 64224 |
|  Innodata, Inc.(x)\* | 4708 | 362845 |
|  Insperity, Inc. | 5557 | 273404 |
|  Kforce, Inc. | 2271 | 68085 |
|  Korn Ferry | 3686 | 257946 |
|  Legalzoom.com, Inc.\* | 18002 | 186861 |
|  Maximus, Inc. | 8712 | 796015 |
|  Planet Labs PBC\* | 36006 | 467358 |
|  RCM Technologies, Inc.\* | 752 | 19966 |
|  Resolute Holdings Management, Inc.(x)\* | 283 | 20418 |
|  Spire Global, Inc.(x)\* | 4449 | 48894 |
|  TriNet Group, Inc. | 4601 | 307761 |
|  Upwork, Inc.\* | 18937 | 351660 |
|  Verra Mobility Corp., Class A\* | 24591 | 607398 |
|  Willdan Group, Inc.\* | 1465 | 141651 |
|  WNS Holdings Ltd.\* | 5782 | 440993 |
|  |  | 6706111 |
|  ***Trading Companies & Distributors (0.5%)*** |  |  |
|  Alta Equipment Group, Inc. | 687 | 4974 |
|  Distribution Solutions Group, Inc.\* | 1428 | 42954 |
|  DXP Enterprises, Inc.\* | 1979 | 235639 |
|  GATX Corp. | 410 | 71668 |
|  Global Industrial Co. | 2160 | 79207 |
|  Herc Holdings, Inc. | 5036 | 587500 |
|  Karat Packaging, Inc. | 1115 | 28109 |
|  McGrath RentCorp | 2849 | 334188 |
|  Rush Enterprises, Inc., Class A | 5091 | 272216 |
|  Rush Enterprises, Inc., Class B | 781 | 44845 |
|  Transcat, Inc.\* | 754 | 55193 |
|  Willis Lease Finance Corp. | 54 | 7403 |
|  Xometry, Inc., Class A(x)\* | 6675 | 363587 |
|  |  | 2127483 |
|  ***Transportation Infrastructure (0.0%)†*** |  |  |
|  Sky Harbour Group Corp.(x)\* | 3423 | 33785 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 53970374 |
|  **Information Technology (28.4%)** |  |  |
|  ***Communications Equipment (0.5%)*** |  |  |
|  ADTRAN Holdings, Inc.\* | 11351 | 106472 |
|  Applied Optoelectronics, Inc.(x)\* | 6459 | 167482 |
|  BK Technologies Corp.\* | 437 | 36918 |
|  Calix, Inc.\* | 9103 | 558651 |
|  Clearfield, Inc.(x)\* | 829 | 28501 |
|  CommScope Holding Co., Inc.\* | 20294 | 314151 |
|  Extreme Networks, Inc.\* | 20367 | 420578 |
|  Harmonic, Inc.\* | 4642 | 47256 |
|  Inseego Corp.(x)\* | 509 | 7620 |
|  Viavi Solutions, Inc.\* | 34119 | 432970 |
|  |  | 2120599 |
|  ***Electronic Equipment, Instruments & Components (2.1%)*** |  |  |
|  908 Devices, Inc.\* | 3393 | 29723 |
|  Advanced Energy Industries, Inc. | 5811 | 988684 |
|  Aeva Technologies, Inc.\* | 4519 | 65526 |
|  Arlo Technologies, Inc.\* | 15339 | 259996 |
|  Badger Meter, Inc. | 4573 | 816646 |
|  Belden, Inc. | 6120 | 736052 |
|  Climb Global Solutions, Inc. | 600 | 80904 |
|  CTS Corp. | 517 | 20649 |
|  Daktronics, Inc.\* | 1171 | 24497 |
|  Evolv Technologies Holdings, Inc.\* | 17192 | 129800 |
|  Fabrinet\* | 5567 | 2029840 |
|  Frequency Electronics, Inc.(x)\* | 1056 | 35809 |
|  Insight Enterprises, Inc.\* | 1537 | 174311 |
|  Itron, Inc.\* | 3399 | 423379 |
|  Knowles Corp.\* | 995 | 23193 |
|  MicroVision, Inc.(x)\* | 25088 | 31109 |
|  Mirion Technologies, Inc., Class A(x)\* | 36271 | 843663 |
|  M-Tron Industries, Inc.\* | 393 | 21804 |
|  Napco Security Technologies, Inc. | 5391 | 231543 |
|  Neonode, Inc.\* | 1498 | 5228 |
|  nLight, Inc.\* | 508 | 15052 |
|  Novanta, Inc.\* | 5574 | 558236 |
|  OSI Systems, Inc.\* | 2472 | 616121 |
|  Ouster, Inc.\* | 7739 | 209340 |
|  PAR Technology Corp.(x)\* | 3676 | 145496 |
|  Plexus Corp.\* | 3848 | 556767 |
|  Red Cat Holdings, Inc.(x)\* | 12730 | 131756 |
|  Sanmina Corp.\* | 3638 | 418770 |
|  Vuzix Corp.(x)\* | 9797 | 30665 |
|  |  | 9654559 |
|  ***IT Services (6.6%)*** |  |  |
|  Applied Digital Corp.\* | 25062 | 574922 |
|  Backblaze, Inc., Class A\* | 7931 | 73600 |
|  BigBear.ai Holdings, Inc.(x)\* | 11219 | 73148 |
|  Cloudflare, Inc., Class A\* | 134586 | 28880810 |
|  Commerce.com, Inc.\* | 9786 | 48832 |
|  Crexendo, Inc.\* | 2291 | 14892 |

---

See Notes to Portfolio of Investments.

715

------

**EQ ADVISORS TRUST** 

EQ/MORGAN STANLEY SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  CSP, Inc.(x) | 1099 | $12693 |
|  DigitalOcean Holdings, Inc.\* | 10530 | 359705 |
|  Grid Dynamics Holdings, Inc.\* | 8662 | 66784 |
|  Hackett Group, Inc. (The) | 3713 | 70584 |
|  Information Services Group, Inc. | 2087 | 12000 |
|  Rackspace Technology, Inc.\* | 3206 | 4520 |
|  TSS, Inc.(x)\* | 2962 | 53642 |
|  Tucows, Inc., Class A\* | 191 | 3544 |
|  Unisys Corp.\* | 8553 | 33357 |
|  VTEX, Class A(x)\* | 9317 | 40808 |
|  |  | 30323841 |
|  ***Semiconductors & Semiconductor Equipment (2.6%)*** |  |  |
|  Aehr Test Systems(x)\* | 3491 | 105114 |
|  Aeluma, Inc.(x)\* | 244 | 3928 |
|  Ambarella, Inc.\* | 6273 | 517648 |
|  Ambiq Micro, Inc.\* | 444 | 13285 |
|  Atomera, Inc.(x)\* | 4708 | 20809 |
|  Axcelis Technologies, Inc.\* | 405 | 39544 |
|  Blaize Holdings, Inc.(x)\* | 6964 | 24026 |
|  CEVA, Inc.\* | 2847 | 75189 |
|  Credo Technology Group Holding Ltd.\* | 22819 | 3322675 |
|  FormFactor, Inc.\* | 8960 | 326323 |
|  Impinj, Inc.\* | 4000 | 723000 |
|  indie Semiconductor, Inc., Class A(x)\* | 12058 | 49076 |
|  Kopin Corp.(x)\* | 24173 | 58740 |
|  Kulicke & Soffa Industries, Inc. | 4672 | 189870 |
|  MaxLinear, Inc., Class A\* | 1743 | 28028 |
|  Navitas Semiconductor Corp., Class A(x)\* | 3653 | 26375 |
|  NVE Corp. | 788 | 51433 |
|  PDF Solutions, Inc.\* | 4878 | 125950 |
|  Power Integrations, Inc. | 8687 | 349304 |
|  Rambus, Inc.\* | 16641 | 1733992 |
|  Rigetti Computing, Inc.(x)\* | 49216 | 1466145 |
|  Semtech Corp.\* | 13432 | 959717 |
|  Silicon Laboratories, Inc.\* | 4980 | 653027 |
|  SiTime Corp.\* | 3285 | 989803 |
|  SkyWater Technology, Inc.\* | 4018 | 74976 |
|  Synaptics, Inc.\* | 573 | 39159 |
|  Ultra Clean Holdings, Inc.\* | 517 | 14088 |
|  |  | 11981224 |
|  ***Software (11.9%)*** |  |  |
|  A10 Networks, Inc. | 9243 | 167760 |
|  ACI Worldwide, Inc.\* | 16238 | 856879 |
|  Adeia, Inc. | 14466 | 243029 |
|  Agilysys, Inc.\* | 3989 | 419842 |
|  Airship AI Holdings, Inc.(x)\* | 2548 | 13173 |
|  Alarm.com Holdings, Inc.\* | 7329 | 389023 |
|  Alkami Technology, Inc.(x)\* | 10446 | 259479 |
|  Amplitude, Inc., Class A\* | 13529 | 145031 |
|  Appian Corp., Class A\* | 123952 | 3789213 |
|  Arteris, Inc.\* | 513 | 5181 |
|  Asana, Inc., Class A(x)\* | 13566 | 181242 |
|  AudioEye, Inc.(x)\* | 1072 | 14858 |
|  Aurora Innovation, Inc., Class A(x)\* | 1653733 | 8913621 |
|  AvePoint, Inc.\* | 20496 | 307645 |
|  Bitdeer Technologies Group, Class A(x)\* | 13682 | 233825 |
|  BitMine Immersion Technologies, Inc.(x)\* | 252161 | 13094721 |
|  Blackbaud, Inc.\* | 4742 | 304958 |
|  BlackLine, Inc.\* | 8020 | 425862 |
|  Blend Labs, Inc., Class A\* | 32531 | 118738 |
|  Box, Inc., Class A\* | 16813 | 542555 |
|  Braze, Inc., Class A\* | 12272 | 349016 |
|  C3.ai, Inc., Class A(x)\* | 18820 | 326339 |
|  Cerence, Inc.(x)\* | 2204 | 27462 |
|  Clear Secure, Inc., Class A | 12899 | 430569 |
|  Clearwater Analytics Holdings, Inc., Class A\* | 38023 | 685174 |
|  Commvault Systems, Inc.\* | 6891 | 1300883 |
|  Core Scientific, Inc.\* | 36422 | 653411 |
|  CoreCard Corp.\* | 896 | 24120 |
|  CS Disco, Inc.\* | 2814 | 18178 |
|  Daily Journal Corp.(x)\* | 147 | 68376 |
|  Digimarc Corp.(x)\* | 2064 | 20165 |
|  Digital Turbine, Inc.\* | 10739 | 68730 |
|  Domo, Inc., Class B\* | 4381 | 69395 |
|  D-Wave Quantum, Inc.(x)\* | 47590 | 1175949 |
|  eGain Corp.\* | 1745 | 15199 |
|  EverCommerce, Inc.(x)\* | 2288 | 25465 |
|  Expensify, Inc., Class A\* | 5121 | 9474 |
|  Five9, Inc.\* | 11866 | 287157 |
|  Freshworks, Inc., Class A\* | 30926 | 363999 |
|  Gitlab, Inc., Class A(x)\* | 52271 | 2356377 |
|  I3 Verticals, Inc., Class A(x)\* | 335 | 10874 |
|  Intapp, Inc.\* | 8659 | 354153 |
|  InterDigital, Inc. | 3992 | 1378158 |
|  Jamf Holding Corp.\* | 10986 | 117550 |
|  Kaltura, Inc.\* | 12549 | 18071 |
|  Klaviyo, Inc., Class A\* | 37304 | 1032948 |
|  Life360, Inc.(x)\* | 2482 | 263837 |
|  LiveRamp Holdings, Inc.\* | 9954 | 270152 |
|  Meridianlink, Inc.\* | 4781 | 95285 |
|  Mitek Systems, Inc.(x)\* | 1483 | 14489 |
|  NextNav, Inc.\* | 13451 | 192349 |
|  OneSpan, Inc. | 812 | 12903 |
|  Ooma, Inc.\* | 4069 | 48787 |
|  Pagaya Technologies Ltd., Class A\* | 7228 | 214599 |
|  PagerDuty, Inc.\* | 13128 | 216875 |
|  Porch Group, Inc.\* | 9793 | 164327 |
|  Progress Software Corp.\* | 6591 | 289543 |
|  PROS Holdings, Inc.\* | 6730 | 154184 |
|  Q2 Holdings, Inc.\* | 9592 | 694365 |
|  Qualys, Inc.\* | 5631 | 745150 |
|  Rapid7, Inc.\* | 9948 | 186525 |
|  Red Violet, Inc. | 1812 | 94677 |
|  ReposiTrak, Inc.(x) | 2023 | 29981 |
|  Rezolve AI plc(x)\* | 22961 | 114346 |
|  Rimini Street, Inc.\* | 1157 | 5415 |
|  Sapiens International Corp. NV | 4787 | 205841 |
|  SEMrush Holdings, Inc., Class A\* | 7436 | 52647 |
|  SoundHound AI, Inc., Class A(x)\* | 56414 | 907137 |
|  SoundThinking, Inc.\* | 1655 | 19959 |
|  Sprinklr, Inc., Class A\* | 17052 | 131641 |
|  Sprout Social, Inc., Class A\* | 7896 | 102016 |
|  SPS Commerce, Inc.\* | 5867 | 610989 |
|  Synchronoss Technologies, Inc.\* | 1641 | 9977 |
|  Tenable Holdings, Inc.\* | 18686 | 544884 |
|  Terawulf, Inc.(x)\* | 41531 | 474284 |
|  Varonis Systems, Inc.\* | 17011 | 977622 |
|  Vertex, Inc., Class A(x)\* | 10017 | 248321 |
|  Via Transportation, Inc., Class A\* | 77986 | 3749567 |
|  Viant Technology, Inc., Class A\* | 1858 | 16035 |
|  Weave Communications, Inc.\* | 9406 | 62832 |
|  WM Technology, Inc.\* | 11449 | 13281 |
|  Workiva, Inc., Class A\* | 7742 | 666431 |
|  Yext, Inc.\* | 15884 | 135332 |
|  Zeta Global Holdings Corp., Class A\* | 28695 | 570170 |
|  |  | 54920582 |

---

See Notes to Portfolio of Investments.

716

------

**EQ ADVISORS TRUST** 

EQ/MORGAN STANLEY SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |  |
|  ***Technology Hardware, Storage & Peripherals (4.7%)*** | ***Technology Hardware, Storage & Peripherals (4.7%)*** | ***Technology Hardware, Storage & Peripherals (4.7%)*** | **** |
|  CompoSecure, Inc., Class A(x)\* | 6026 | $125461 |  |
|  CPI Card Group, Inc.\* | 1028 | 15564 |  |
|  Diebold Nixdorf, Inc.\* | 3729 | 212665 |  |
|  IonQ, Inc.(x)\* | 344378 | 21179247 |  |
|  Quantum Computing, Inc.(x)\* | 20678 | 380682 |  |
|  Turtle Beach Corp.(x)\* | 1524 | 24232 |  |
|  |  | 21937851 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 130938656 |  |
|  **Materials (4.2%)** |  |  |  |
|  ***Chemicals (0.8%)*** |  |  |  |
|  ASP Isotopes, Inc.(x)\* | 11947 | 114930 |  |
|  Balchem Corp. | 5060 | 759304 |  |
|  Cabot Corp. | 7804 | 593494 |  |
|  Chemours Co. (The) | 23253 | 368328 |  |
|  Flotek Industries, Inc.(x)\* | 630 | 9198 |  |
|  Hawkins, Inc. | 3010 | 549987 |  |
|  Ingevity Corp.\* | 5626 | 310499 |  |
|  Innospec, Inc. | 232 | 17901 |  |
|  PureCycle Technologies, Inc.(x)\* | 20015 | 263197 |  |
|  Sensient Technologies Corp. | 6506 | 610588 |  |
|  Solesence, Inc.(x)\* | 2992 | 9634 |  |
|  |  | 3607060 |  |
|  ***Construction Materials (0.2%)*** |  |  |  |
|  Knife River Corp.\* | 8789 | 675611 |  |
|  Smith-Midland Corp.\* | 476 | 17564 |  |
|  Titan America SA(x) | 3850 | 57519 |  |
|  United States Lime & Minerals, Inc. | 1669 | 219557 |  |
|  |  | 970251 |  |
|  ***Containers & Packaging (0.0%)†*** |  |  |  |
|  Ardagh Metal Packaging SA | 5911 | 23585 |  |
|  Myers Industries, Inc. | 895 | 15161 |  |
|  O-I Glass, Inc.\* | 6070 | 78728 |  |
|  |  | 117474 |  |
|  ***Metals & Mining (3.2%)*** |  |  |  |
|  Alpha Metallurgical Resources, Inc.\* | 526 | 86311 |  |
|  American Battery Technology Co.\* | 6746 | 32786 |  |
|  Century Aluminum Co.\* | 7949 | 233383 |  |
|  Coeur Mining, Inc.\* | 49408 | 926894 |  |
|  Compass Minerals International, Inc.(x)\* | 3920 | 75264 |  |
|  Constellium SE\* | 8068 | 120052 |  |
|  Contango ORE, Inc.\* | 1377 | 34329 |  |
|  Critical Metals Corp.(x)\* | 2117 | 13168 |  |
|  Dakota Gold Corp.\* | 13942 | 63436 |  |
|  Hecla Mining Co. | 21843 | 264300 |  |
|  Idaho Strategic Resources, Inc.(x)\* | 2024 | 68391 |  |
|  Ivanhoe Electric, Inc.\* | 11366 | 142643 |  |
|  Kaiser Aluminum Corp. | 1197 | 92361 |  |
|  Lifezone Metals Ltd.\* | 4386 | 24035 |  |
|  Materion Corp. | 598 | 72244 |  |
|  MP Materials Corp.\* | 171244 | 11485335 |  |
|  NioCorp Developments Ltd.(x)\* | 10768 | 71930 |  |
|  Novagold Resources, Inc.\* | 43546 | 383205 |  |
|  Perpetua Resources Corp.\* | 11490 | 232443 |  |
|  Ramaco Resources, Inc., Class A(x)\* | 4558 | 151280 |  |
|  United States Antimony Corp.(x)\* | 14787 | 91679 |  |
|  US Gold Corp.(x)\* | 1779 | 29318 |  |
|  US Goldmining, Inc.\* | 394 | 5065 |  |
|  Vox Royalty Corp.(x) | 6240 | 26832 |  |
|  |  | 14726684 |  |
|  ***Paper & Forest Products (0.0%)†*** |  |  |  |
|  Sylvamo Corp. | 1494 | 66065 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 19487534 |  |
|  **Real Estate (3.9%)** |  |  |  |
|  ***Diversified REITs (0.0%)†*** |  |  |  |
|  Gladstone Commercial Corp. (REIT) | 1513 | 18640 |  |
|  ***Health Care REITs (0.2%)*** |  |  |  |
|  American Healthcare REIT, Inc. (REIT) | 8753 | 367714 |  |
|  CareTrust REIT, Inc. (REIT) | 3229 | 111982 |  |
|  National Health Investors, Inc. (REIT) | 1527 | 121396 |  |
|  Strawberry Fields REIT, Inc. (REIT) | 1115 | 13715 |  |
|  Universal Health Realty Income Trust (REIT) | 1843 | 72190 |  |
|  |  | 686997 |  |
|  ***Hotel & Resort REITs (0.2%)*** |  |  |  |
|  DiamondRock Hospitality Co. (REIT) | 18220 | 145031 |  |
|  Ryman Hospitality Properties, Inc. (REIT) | 9541 | 854778 |  |
|  Sunstone Hotel Investors, Inc. (REIT) | 2220 | 20801 |  |
|  Xenia Hotels & Resorts, Inc. (REIT) | 2445 | 33546 |  |
|  |  | 1054156 |  |
|  ***Real Estate Management & Development (3.1%)*** |  |  |  |
|  Compass, Inc., Class A\* | 72013 | 578264 |  |
|  eXp World Holdings, Inc.(x) | 13588 | 144848 |  |
|  Landbridge Co. LLC, Class A(x) | 185750 | 9909763 |  |
|  Maui Land & Pineapple Co., Inc.\* | 985 | 18361 |  |
|  Opendoor Technologies, Inc.(x)\* | 424376 | 3382277 |  |
|  Real Brokerage, Inc. (The)\* | 16340 | 68301 |  |
|  St Joe Co. (The) | 5832 | 288567 |  |
|  |  | 14390381 |  |
|  ***Residential REITs (0.1%)*** |  |  |  |
|  Apartment Investment and |  |  |  |
|  Management Co. (REIT), Class A | 12174 | 96540 |  |
|  NexPoint Residential Trust, Inc. (REIT) | 1143 | 36827 |  |
|  UMH Properties, Inc. (REIT) | 12194 | 181081 |  |
|  |  | 314448 |  |
|  ***Retail REITs (0.2%)*** |  |  |  |
|  Alexander's, Inc. (REIT)(x) | 328 | 76913 |  |
|  CBL & Associates Properties, Inc. (REIT) | 1835 | 56114 |  |
|  NETSTREIT Corp. (REIT)(x) | 3321 | 59977 |  |
|  Phillips Edison & Co., Inc. (REIT) | 3534 | 121322 |  |
|  Saul Centers, Inc. (REIT) | 1829 | 58290 |  |
|  Tanger, Inc. (REIT) | 15610 | 528243 |  |
|  |  | 900859 |  |
|  ***Specialized REITs (0.1%)*** |  |  |  |
|  Outfront Media, Inc. (REIT) | 21672 | 397031 |  |
|  PotlatchDeltic Corp. (REIT) | 697 | 28403 |  |
|  |  | 425434 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 17790915 |  |
|  **Utilities (1.2%)** |  |  |  |
|  ***Electric Utilities (0.2%)*** |  |  |  |
|  Genie Energy Ltd., Class B | 361 | 5397 |  |
|  MGE Energy, Inc. | 2959 | 249089 |  |
|  Oklo, Inc., Class A(x)\* | 3921 | 437701 |  |
|  Otter Tail Corp. | 457 | 37460 |  |
|  |  | 729647 |  |
|  ***Gas Utilities (0.0%)†*** |  |  |  |
|  Chesapeake Utilities Corp. | 1175 | 158261 |  |
|  ***Independent Power and Renewable Electricity Producers (0.0%)†*** |  |  |  |
|  Hallador Energy Co.\* | 4325 | 84640 |  |

---

See Notes to Portfolio of Investments.

717

------

**EQ ADVISORS TRUST** 

EQ/MORGAN STANLEY SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Montauk Renewables, Inc.\* | 2651 | $5329 |
|  |  | 89969 |
|  ***Water Utilities (1.0%)*** |  |  |
|  American States Water Co. | 3870 | 283748 |
|  Cadiz, Inc.\* | 8898 | 41999 |
|  Consolidated Water Co. Ltd. | 704 | 24837 |
|  Global Water Resources, Inc. | 1601 | 16490 |
|  Middlesex Water Co. | 492 | 26627 |
|  WaterBridge Infrastructure LLC, Class A\* | 171090 | 4314890 |
|  York Water Co. (The) | 450 | 13689 |
|  |  | 4722280 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 5700157 |
|  **Total Common Stocks (98.7%)**<br> *(Cost $361,554,894)* |  | 454923160 |
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Biotechnology (0.0%)†*** |  |  |
|  Aduro Biotech, Inc., CVR (r)\* | 2584 |  |
|  Chinook Therapeutics, Inc., CVR \* | 2496 | 499 |
|  Sanofi Aatd, Inc., CVR(r)\* | 3248 | 1577 |
|  |  | 2076 |
|  ***Life Sciences Tools & Services (0.0%)*** |  |  |
|  OmniAb, Inc., expiring 11/1/27(r)\* | 226 |  |
|  **Total Rights (0.0%)†<br>(***Cost $1,577***)** |  | 2076 |
|  | **Number of<br>Warrants** | **Value**<br>**(Note 1)** |
|  WARRANTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Health Care Equipment & Supplies (0.0%)†*** |  |  |
|  Pulse Biosciences, Inc., expiring 6/27/29\* | 88 | 295 |
|  ***Life Sciences Tools & Services (0.0%)*** |  |  |
|  SomaLogic, Inc., expiring 8/31/26(r)\* | 10119 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 295 |
|  **Total Warrants (0.0%)†**<br> *(Cost $—)* |  | 295 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (14.2%)** |  |  |
|  Allspring Government Money Market Fund, Select Shares 4.07% (7 day yield) (xx) | 1000000 | 1000000 |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 1000000 | 1000000 |
|  Goldman Sachs Financial Square Government Fund 4.03% (7 day yield) (xx) | 2000000 | 2000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 43359388 | 43359388 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 13037042 | 13042257 |
|  Western Asset Institutional Government Reserves Fund, Institutional Shares 4.04% (7 day yield) (xx) | 5000000 | 5000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 65401645 |
|  **Total Short-Term Investments (14.2%)**<br> *(Cost $65,400,936)* |  | 65401645 |
|  **Total Investments in Securities (112.9%)**<br> *(Cost $426,957,407)* |  | 520327176 |
|  **Other Assets Less Liabilities (-12.9%)** |  | (59299078) |
|  **Net Assets (100%)** |  | $461028098 |

---

*\** *Non-income producing.* 

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $121,168 or 0. 0% of net assets.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $91,306,773. This was collateralized by $42,475,003 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.250%, maturing 9/30/25 – 5/15/55 and by cash of $52,359,388 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*CVR — Contingent Value Right* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

718

------

**EQ ADVISORS TRUST** 

EQ/MORGAN STANLEY SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  Russell 2000 E-Mini Index | 10 | 12/2025 | USD | 1227750 | 8608 |
|  |  |  |  |  | 8608 |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $7036215 | $— | $— | $7036215 |
|  Consumer Discretionary | 60764808 | 1011677 |  | 61776485 |
|  Consumer Staples | 17431142 |  |  | 17431142 |
|  Energy | 8829646 |  |  | 8829646 |
|  Financials | 29789623 |  | 7428552 | 37218175 |
|  Health Care | 94743861 |  |  | 94743861 |
|  Industrials | 53970374 |  |  | 53970374 |
|  Information Technology | 130938656 |  |  | 130938656 |
|  Materials | 19487534 |  |  | 19487534 |
|  Real Estate | 17790915 |  |  | 17790915 |
|  Utilities | 5700157 |  |  | 5700157 |
|  **Futures** | 8608 |  |  | 8608 |
|  **Rights** |  |  |  |  |
|  Health Care |  | 499 | 1577 | 2076 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 65401645 |  |  | 65401645 |
|  **Warrants** |  |  |  |  |
|  Health Care |  | 295 | — (a) | 295 |
|  **Total Assets** | $**511893184** | $**1012471** | $**7430129** | $**520335784** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**511893184** | $**1012471** | $**7430129** | $**520335784** |

---

(a) Value is zero.

See Notes to Portfolio of Investments.

719

------

**EQ ADVISORS TRUST** 

EQ/MORGAN STANLEY SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a reconciliation of assets for which Level 3 inputs were used in determining fair value:

---

| | | |
|:---|:---|:---|
|  | **Investment in<br>Common Stock-Financials** | **Investment in<br>Warrants-Healthcare** |
|  Balance as of 12/31/2024 | $— | $– (b) |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized Gains (Losses) |  | – |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in Unrealized Appreciation/Depreciation | (75267) | – |
| &nbsp;&nbsp;&nbsp;&nbsp; Net accretion (amortization) |  | – |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchases | 7503819 | – |
| &nbsp;&nbsp;&nbsp;&nbsp; Sales |  | – |
| &nbsp;&nbsp;&nbsp;&nbsp; Issuances |  | – |
| &nbsp;&nbsp;&nbsp;&nbsp; Settlements |  | – |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers into Level 3 |  | – |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers out of Level 3 |  | – |
|  Balance as of 9/30/2025 | $7428552 | $– (b) |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Type** | **Balance at<br>09/30/2025** | **Valuation Technique(s)** | **Unobservable Input(s)\*** | **Amount of<br>Range<br>(Weighted<br>Average)** | **Impact to<br>Valuation from an<br>Increase/Decrease<br>in Input(a)** |
|  Common Stocks | $3743898 | Market Comparables | Discount for lack of marketability | 0.08% | Decrease |
|  Common Stocks | $3684654 | Market Comparables | Discount for lack of marketability | 0.07% | Decrease |
|  Warrants |  | Price at Zero | Recovery Value | 0.00% | Increase |

---

\* Level 3 values are based on significant unobservable inputs that reflect the Manager's determination of assumptions that market participants might reasonably use in valuing the securities. Fair value determinations and valuation of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred. 

(a) Represents the directional change in the fair value of the Level 3 investments that could have resulted from an
increase in the corresponding input as of period end. A decrease to the unobservable input would have had the opposite effect. Significant changes in these inputs may have resulted in a significantly higher or lower fair value measurement at period
end.

(b) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $156628407 |
|  Aggregate gross unrealized depreciation | (68195005) |
|  Net unrealized appreciation | $88433402 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $431902382 |

---

See Notes to Portfolio of Investments.

720

------

**EQ ADVISORS TRUST** 

EQ/PIMCO GLOBAL REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Asset-Backed Securities (2.1%)** |  |  |
|  Auto Abs Spanish Loans FT, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.496%, 2/28/32(l)(m) | 103980 | $122122 |
|  CIT Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.522%, 10/25/37(l)§ | $136177 | 136154 |
|  Citigroup Mortgage Loan Trust, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-HE4 M3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.962%, 10/25/35(l) | 100000 | 92358 |
|  Credit-Based Asset Servicing & Securitization LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-CB6 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.492%, 7/25/37(l)§ | 245727 | 165839 |
|  CWABS Asset-Backed Certificates Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.412%, 7/25/37(l) | 52566 | 49299 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-6 1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.672%, 9/25/37(l) | 11109 | 10255 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-8 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.462%, 11/25/37(l) | 103735 | 98603 |
|  CWABS, Inc. Asset-backed Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-12 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.012%, 8/25/47(l) | 24474 | 24153 |
|  GSAA Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-7 AF4A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.720%, 3/25/46(e) | 17258 | 9273 |
|  Home Equity Mortgage Loan Asset-Backed Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-A 1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.492%, 4/25/37(l) | 16841 | 12900 |
|  Invesco Euro CLO V DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.046%, 1/15/34(l)§ | 500000 | 587110 |
|  Lehman XS Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-20N A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.572%, 12/25/37(l) | $85010 | 93673 |
|  Long Beach Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-7 2A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.512%, 8/25/36(l) | 61495 | 24488 |
|  Marzio Finance Srl, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-15 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.726%, 9/28/49(l)(m) | 460250 | 543130 |
|  MASTR Asset-Backed Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-WMC4 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.572%, 10/25/36(l) | $105472 | 33577 |
|  New Century Home Equity Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-4 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.037%, 2/25/35(l) | 41097 | 40216 |
|  Option One Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-3 M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.127%, 11/25/34(l) | 9851 | 10307 |
|  Securitized Asset-Backed Receivables LLC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HE1 A2C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.592%, 7/25/36(l) | 151756 | 50789 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HE2 A2C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.572%, 7/25/36(l) | 43262 | 16403 |
|  Soundview Home Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OPT1 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.472%, 6/25/37(l) | 89901 | 62702 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OPT2 2A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.452%, 7/25/37(l) | 41216 | 38461 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Asset- Backed Securities** |  | 2221812 |
|  **Collateralized Mortgage Obligations (3.4%)** |  |  |
|  Alba plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.263%, 3/17/39(l)(m) | 96936 | 128377 |
|  Alternative Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-29CB A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/25/35 | $28132 | 15140 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HY11 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.512%, 6/25/36(l) | 55931 | 52794 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1T1 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 3/25/37 | 142881 | 47000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-4CB 1A35 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/25/37 | 24144 | 20212 |
|  Alternative Loan Trust Resecuritization, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2008-2R 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/25/37(l) | 35300 | 29057 |
|  Angel Oak Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-4 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.469%, 6/25/65(l)§ | 26425 | 25430 |
|  Brants Bridge plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.876%, 6/14/66(l)(m) | 155526 | 209636 |
|  Canterbury Finance NO 4 plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.825%, 5/16/58(l)(m) | 149991 | 201923 |
|  CHL Mortgage Pass- Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 3/25/37 | $42890 | 18721 |
|  Citigroup Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-AR4 1A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.629%, 3/25/37(l) | 37592 | 31427 |
|  Citigroup Mortgage Loan Trust, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-NCM2 1CB1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/25/34 | 3983 | 3947 |
|  CSMC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-4R 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.886%, 10/26/36(l)§ | 2546 | 2308 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-3R 5A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.422%, 9/29/36(l)§ | 10484 | 10429 |
|  Curzon Mortgages plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 1 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.196%, 7/28/49(l)(m) | 465557 | 627479 |
|  DSLA Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR6 2A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.828%, 10/19/45(l) | $35903 | 33116 |
|  Dutch Property Finance BV, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.848%, 4/28/62(l)(m) | 221555 | 261025 |

---

See Notes to Portfolio of Investments.

721

------

**EQ ADVISORS TRUST** 

EQ/PIMCO GLOBAL REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  GNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H17 FC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.296%, 8/20/66(l) | $56893 | $57054 |
|  GSR Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-12 3A6 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.406%, 12/25/34(l) | 2633 | 2481 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR4 6A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.010%, 7/25/35(l) | 6946 | 6617 |
|  Harbour NO 2 plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.046%, 10/28/54(l)(m) | &nbsp;&nbsp;&nbsp;&nbsp;886601 | 1194129 |
|  JP Morgan Alternative Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A1 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.732%, 3/25/36(l) | $22471 | 21212 |
|  Lehman Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-3 4A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.033%, 1/25/36(l) | 4524 | 4355 |
|  New Residential Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-3A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/25/58(l)§ | 25215 | 24670 |
|  RALI Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-QH8 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.139%, 10/25/37(l) | 23566 | 18819 |
|  Residential Asset Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A10 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 9/25/36 | 118092 | 34831 |
|  Sequoia Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 6 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.888%, 4/19/27(l) | 11178 | 11064 |
|  Silverstone Master Issuer plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 1/21/79(l)(m) | &nbsp;&nbsp;&nbsp;&nbsp;400000 | 538666 |
|  Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-5 2CB1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 7/25/36 | $20950 | 14986 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** |  | 3646905 |
|  **Commercial Mortgage-Backed Securities (0.1%)** |  |  |
|  JP Morgan Chase Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-FL12 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.648%, 12/15/31(l)§ | 55130 | 51556 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Mortgage- Backed Securities** |  | 51556 |
|  **Corporate Bonds (4.0%)** |  |  |
|  **Financials (2.5%)** |  |  |
|  ***Banks (2.3%)*** |  |  |
|  Kreditanstalt fuer Wiederaufbau |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 1/10/34(m) | 1800000 | 2078883 |
|  Nordea Kredit Realkreditaktieselskab |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 10/1/43 | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 10/1/50(m) | 382 | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 10/1/53 | 104280 | 11635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/1/53 | 4995 | 620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/1/56 | 1995551 | 312450 |
|  |  | 2403636 |
|  ***Financial Services (0.2%)*** |  |  |
|  Jyske Realkredit A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series CCE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 10/1/43 | 5000 | 648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 10/1/50(m) | 11719 | 1448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 10/1/50 | 2 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 10/1/53 | 2 |  |
|  Nykredit Realkredit A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 01e |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/1/53(m) | 183338 | 30046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/1/56(m) | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 01E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 10/1/43(m) | 2 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 10/1/53(m) | 32444 | 3793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/1/53(m) | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/1/53(m) | 438869 | 65347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/1/56(m) | 395951 | 61851 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 01EE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 10/1/50(m) | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/1/52(m) | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/1/53(m) | 26539 | 3398 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series CCE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 10/1/50(m) | 12844 | 1585 |
|  Realkredit Danmark A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 10/1/53(m) | 26595 | 3267 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 23S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/1/53(m) | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/1/53(m) | 2 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 27S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/1/53(m) | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series CCS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 10/1/50(m) | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/1/56(m) | 84966 | 13386 |
|  |  | 184772 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 2588408 |
|  **Industrials (1.5%)** |  |  |
|  ***Ground Transportation (1.5%)*** |  |  |
|  Network Rail Infrastructure Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series RPI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 11/22/27 | 1187670 | 1623557 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 1623557 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  | 4211965 |
|  **Foreign Government Securities (72.1%)** |  |  |
|  Bonos and Obligaciones del Estado |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 10/31/34(m) | 2500000 | 3004641 |
|  Bonos de la Tesoreria |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 8/12/32 | 200000 | 60924 |
|  Buoni Poliennali del Tesoro |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.300%, 5/15/28 TIPS(m) | 3714262 | 4417909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.400%, 5/15/30 TIPS(m) | 1489452 | 1701921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 5/15/33 TIPS(m) | 715308 | 757630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 5/15/36 TIPS(m) | 2593850 | 3027890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 9/15/41 TIPS(m) | 418020 | 522820 |

---

See Notes to Portfolio of Investments.

722

------

**EQ ADVISORS TRUST** 

EQ/PIMCO GLOBAL REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 5/15/56 TIPS(m) | 101885 | $118572 |
|  Canada Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/1/36 TIPS | 800550 | 671675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/1/41 TIPS | 296534 | 226646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 12/1/44 TIPS | 185441 | 130852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 12/1/47 TIPS | 534996 | 355459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 12/1/50 TIPS | 317198 | 173300 |
|  Cassa Depositi e Prestiti SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/1/30(m) | $200000 | 200044 |
|  Commonwealth of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 8/21/35 TIPS(m) | 964370 | 639559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 8/21/40 TIPS(m) | 396576 | 228039 |
|  Federal Republic of Germany |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 4/15/30 TIPS(m) | 129590 | 151358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 4/15/33 TIPS(m) | 491968 | 549644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 4/15/46 TIPS(m) | 520872 | 479642 |
|  French Republic |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 3/1/26 TIPS(m) | 1344486 | 1572093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.850%, 7/25/27 TIPS(m) | 1782274 | 2149128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 3/1/28 TIPS(m) | 963664 | 1106024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 3/1/29 TIPS(m) | 740610 | 849520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 7/25/31 TIPS(m) | 1468992 | 1634525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 3/1/32 TIPS(m) | 694626 | 749150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 7/25/32 TIPS(m) | 634248 | 842397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 7/25/36 TIPS(m) | 1690289 | 1687130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.550%, 3/1/39 TIPS(m) | 318744 | 312931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 7/25/40 TIPS(m) | 146879 | 171532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.950%, 7/25/43 TIPS(m) | 418536 | 416835 |
|  Japan Government Bond CPI Linked |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 3/10/26 TIPS | 148083000 | 1009817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 3/10/28 TIPS | 269465980 | 1852774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 3/10/29 TIPS | 273226770 | 1885885 |
|  Kingdom of Denmark |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 11/15/30 TIPS | 1925952 | 292232 |
|  Kingdom of Saudi Arabia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 1/13/28§ | $600000 | 612335 |
|  Kingdom of Spain |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.650%, 11/30/27 TIPS(m) | 1150407 | 1355388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 11/30/30 TIPS(m) | 1344725 | 1590622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.700%, 11/30/33 TIPS(m) | 1385395 | 1562633 |
|  Kingdom of Sweden |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 6/1/26 TIPS(m) | 9296848 | 976149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 12/1/27 TIPS(m) | 659692 | 69169 |
|  Mexican Udibonos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 8/24/34 TIPS | 76974 | 4028 |
|  New Zealand Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 9/20/35 TIPS(m) | 133562 | 77976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 9/20/40 TIPS(m) | 396514 | 220472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 9/20/50 TIPS | 300292 | 177245 |
|  Queensland Treasury Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/22/35(m) | 200000 | 127741 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 7/21/36(m) | 800000 | 537590 |
|  Republic of Italy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (EURIBOR 6 Month + 0.80%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.044%, 10/15/28(k)(m) | 100000 | 119378 |
| &nbsp;&nbsp;&nbsp;&nbsp; (EURIBOR 6 Month + 1.15%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.394%, 10/15/31(k)(m) | 800000 | 965121 |
|  State of North Rhine- Westphalia Germany |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 6/15/32(m) | 300000 | 335729 |
|  Treasury Corp. of Victoria |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 9/15/33(m) | 1300000 | 721252 |
|  U.K. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/7/30(m) | 9100000 | 12354122 |
|  U.K. Treasury Inflation Linked Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 11/22/27 TIPS(m) | 2093100 | 2857742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 8/10/28 TIPS(m) | 1163760 | 1544684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 8/10/31 TIPS(m) | 760925 | 973510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 11/22/32 TIPS(m) | 336735 | 453500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 11/22/33 TIPS(m) | 872984 | 1115819 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 1/26/35 TIPS(m) | 928341 | 1277494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 11/22/36 TIPS(m) | 1015424 | 1140012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 11/22/37 TIPS(m) | 803392 | 993665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 3/22/40 TIPS(m) | 938010 | 1030115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 8/10/41 TIPS(m) | 797737 | 783564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 11/22/42 TIPS(m) | 1051518 | 1097847 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 3/22/44 TIPS(m) | 1005354 | 910653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 3/22/46 TIPS(m) | 565676 | 484912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 11/22/47 TIPS(m) | 1075294 | 1048714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 8/10/48 TIPS(m) | 709536 | 576141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 3/22/50 TIPS(m) | 818492 | 715381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 3/22/51 TIPS(m) | 276222 | 211297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 3/22/52 TIPS(m) | 716579 | 559723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 11/22/54 TIPS(m) | 643770 | 657467 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 11/22/55 TIPS(m) | 508861 | 518654 |

---

See Notes to Portfolio of Investments.

723

------

**EQ ADVISORS TRUST** 

EQ/PIMCO GLOBAL REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 11/22/56 TIPS(m) | GBP | 314370 | $217824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 3/22/58 TIPS(m) |  | 336533 | 228420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 3/22/62 TIPS(m) |  | 893941 | 642801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 11/22/65 TIPS(m) |  | 584888 | 354881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 3/22/68 TIPS(m) |  | 723904 | 428890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 3/22/73 TIPS(m) |  | 131746 | 83826 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Foreign Government Securities** |  |  | 76664984 |
|  **Mortgage-Backed Securities (16.3%)** |  |  |  |
|  FHLMC UMBS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 8/1/54 | $| 300000 | 310187 |
|  FNMA UMBS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/1/53 |  | 123500 | 127896 |
|  FNMA/FHLMC UMBS, 30 Year, Single Family |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/25/55 TBA |  | 2400000 | 2328750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/25/55 TBA |  | 1000000 | 942539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/25/55 TBA |  | 4800000 | 4759125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/25/55 TBA |  | 2000000 | 2042735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 11/25/55 TBA |  | 4000000 | 4136406 |
|  GNMA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/15/55 TBA |  | 3000000 | 2680313 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Mortgage-Backed Securities** |  |  | 17327951 |
|  **Supranational (3.8%)** |  |  |  |
|  European Financial Stability Facility |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 6/21/32(m) |  | 1300000 | 1488460 |
|  European Union |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 12/12/35(m) |  | 2100000 | 2508518 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Supranational** |  |  | 3996978 |
|  **U.S. Treasury Obligations (58.2%)** |  |  |  |
|  U.S. Treasury Inflation Linked Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 1/15/28 TIPS |  | 1228990 | 1249082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 4/15/29 TIPS |  | 982545 | 1074113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/15/40 TIPS |  | 478282 | 481052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/15/41 TIPS |  | 1194888 | 1191760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 2/15/42 TIPS |  | 1558340 | 1233225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 2/15/43 TIPS |  | 386403 | 292708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 2/15/44 TIPS |  | 1982152 | 1691201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 2/15/45 TIPS |  | 2098946 | 1560214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 2/15/46 TIPS |  | 2290495 | 1760786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 2/15/47 TIPS |  | 1100058 | 810092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 2/15/48 TIPS |  | 923571 | 689982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 2/15/50 TIPS |  | 251306 | 148048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 2/15/51 TIPS |  | 446692 | 246864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 2/15/52 TIPS |  | 116048 | 62701 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 2/15/53 TIPS |  | 326031 | 260280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/15/54 TIPS |  | 842080 | 775767 |
|  U.S. Treasury Inflation Linked Notes |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 4/15/26 TIPS |  | 1601379 | 1592821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 7/15/26 TIPS |  | 1522912 | 1517322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 10/15/26 TIPS |  | 945768 | 940337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 1/15/27 TIPS(z) |  | 3049158 | 3025089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 4/15/27 TIPS |  | 343245 | 338378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 7/15/27 TIPS |  | 1307414 | 1298371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 10/15/27 TIPS |  | 1417702 | 1440266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 1/15/28 TIPS(z) |  | 2987334 | 2952222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 7/15/28 TIPS(z) |  | 2342267 | 2330842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 10/15/28 TIPS |  | 949230 | 988468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 1/15/29 TIPS |  | 89557 | 88874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 4/15/29 TIPS |  | 522210 | 538944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 7/15/29 TIPS |  | 1601383 | 1552959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 10/15/29 TIPS(z) |  | 2874676 | 2931881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 1/15/30 TIPS |  | 1757854 | 1677877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 4/15/30 TIPS(z) |  | 4668172 | 4739925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 7/15/30 TIPS |  | 541791 | 515098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 7/15/31 TIPS(z) |  | 5580585 | 5210515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 1/15/32 TIPS |  | 1048851 | 965349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 7/15/32 TIPS(z) |  | 3891510 | 3682739 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 1/15/33 TIPS |  | 1626750 | 1576191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 7/15/33 TIPS(z) |  | 2765568 | 2722352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 1/15/34 TIPS |  | 630564 | 633326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 7/15/34 TIPS(z) |  | 2573825 | 2610797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 1/15/35 TIPS(z) |  | 1535460 | 1580091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 7/15/35 TIPS(z) |  | 905463 | 912459 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  |  | 61891368 |
|  **Total Long-Term Debt Securities (160.0%)**<br>*(Cost $176,859,664)* |  |  | 170013519 |
|  | **Number of**<br>**Contracts** | **Number of**<br>**Contracts** | **Value**<br>**(Note 1)** |
|  OPTIONS PURCHASED: |  |  |  |
|  **Call Options Purchased (0.0%)†** |  |  |  |
|  ***Future Interest Rate Options (0.0%)†*** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3 Month SOFR 12/12/2025 at USD 96.31, American Style Notional Amount: USD 21,000,000 Exchange Traded\* |  | 84 | 17850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3 Month SONIA 03/13/2026 at GBP 94.25, American Style Notional Amount: GBP 11,500,000 Exchange Traded\* |  | 46 | 5027 |
|  |  |  | 22877 |
|  **Put Options Purchased (0.0%)†** |  |  |  |
|  ***Future Interest Rate Options (0.0%)†*** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid-Curve 1-Year EURIBOR 12/15/2025 at EUR 97.94, American Style Notional Amount: EUR 7,000,000 Exchange Traded\* |  | 28 | 822 |
|  **Total Options Purchased (0.0%)†**<br> (*Cost $70,133*) |  |  | 23699 |
|  **Total Investments in Securities (160.0%)**<br> *(Cost $176,929,797)* |  |  | 170037218 |
|  **Other Assets Less Liabilities (-60.0%)** | **Other Assets Less Liabilities (-60.0%)** | **Other Assets Less Liabilities (-60.0%)** | (63764660) |
|  **Net Assets (100%)** |  |  | $106272558 |

---

See Notes to Portfolio of Investments.

724

------

**EQ ADVISORS TRUST** 

EQ/PIMCO GLOBAL REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

---

| | |
|:---|:---|
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At September 30, 2025, the market value of these securities amounted to $1,615,831 or 1.5% of net assets.*  |

---

*(e)* *Step Bond - Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of September 30, 2025. Maturity date disclosed is the ultimate maturity date.* 

*(k)* *Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of September 30, 2025. (l) Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of September 30, 2025.* 

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $79,298,331 or 74.6% of net assets.* 

*(z)* *All or a portion of the Security is held as a Sale-Buyback position.* 

See Notes to Portfolio of Investments.

725

------

**EQ ADVISORS TRUST** 

EQ/PIMCO GLOBAL REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*Glossary:* 

*AUD — Australian Dollar* 

*BRL — Brazilian Real* 

*CAD — Canadian Dollar* 

*CLO — Collateralized Loan Obligation* 

*CPI — Consumer Price Index* 

*DKK — Denmark Krone* 

*EUR — European Currency Unit* 

*EURIBOR — Euro Interbank Offered Rate* 

*FHLMC — Federal Home Loan Mortgage Corp.* 

*FNMA — Federal National Mortgage Association* 

*GBP — British Pound* 

*GNMA — Government National Mortgage Association* 

*JPY — Japanese Yen* 

*MXN — Mexican Peso* 

*NZD — New Zealand Dollar* 

*OAT — Obligations Assimilables du Trésor* 

*PEN — Peruvian Sol* 

*SEK — Swedish Krona* 

*SOFR — Secured Overnight Financing Rate* 

*SONIA — Sterling Over Night Index Average* 

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

*TIPS — Treasury Inflation Protected Security* 

*TRY — Turkish Lira* 

*UMBS — Uniform Mortgage-Backed Securities* 

*USD — United States Dollar* 

*ZAR — South African Rand* 

**Country Diversification** 

As a Percentage of Total Net Assets

---

| | |
|:---|:---|
|  | 0 |
|  Australia | 2.1 |
|  Canada | 1.5 |
|  Denmark | 0.7 |
|  France | 10.8 |
|  Germany | 3.4 |
|  Ireland | 0.5 |
|  Italy | 11.6 |
|  Japan | 4.5 |
|  Mexico | 0 |
|  Netherlands | 0.2 |
|  New Zealand | 0.4 |
|  Peru | 0.1 |
|  Saudi Arabia | 0.6 |
|  Spain | 7.2 |
|  Supranational | 3.8 |
|  Sweden | 1 |
|  United Kingdom | 35.6 |
|  United States | 76 |
|  Cash and Other | (60.0) |
|  | 100 |

---

# Percent shown is less than 0.05%. 

See Notes to Portfolio of Investments.

726

------

**EQ ADVISORS TRUST** 

EQ/PIMCO GLOBAL REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation**<br>**(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  Euro-BTP | 9 | 12/2025 | EUR | 1266283 | 11294 |
|  Euro-Bund | 10 | 12/2025 | EUR | 1509476 | 4281 |
|  U.S. Treasury 2 Year Note | 21 | 12/2025 | USD | 4376367 | 666 |
|  U.S. Treasury 10 Year Note | 46 | 12/2025 | USD | 5175000 | 20078 |
|  U.S. Treasury Long Bond | 12 | 12/2025 | USD | 1399125 | 13317 |
|  3 Month SONIA | 32 | 6/2027 | GBP | 10369717 | (4741) |
|  |  |  |  |  | 44895 |
|  **Short Contracts** |  |  |  |  |  |
|  Australia 10 Year Bond | (21) | 12/2025 | AUD | (1575101) | 3487 |
|  Euro-Bobl | (35) | 12/2025 | EUR | (4841019) | (1869) |
|  Euro-Buxl | (10) | 12/2025 | EUR | (1344052) | (24191) |
|  Euro-OAT | (24) | 12/2025 | EUR | (3419303) | (7926) |
|  Euro-Schatz | (35) | 12/2025 | EUR | (4395995) | 4466 |
|  U.S. Treasury 5 Year Note | (99) | 12/2025 | USD | (10810336) | (9736) |
|  U.S. Treasury 10 Year Ultra Note | (42) | 12/2025 | USD | (4833281) | (46652) |
|  U.S. Treasury Ultra Bond | (32) | 12/2025 | USD | (3842000) | (75656) |
|  3 Month SONIA | (32) | 6/2026 | GBP | (10355730) | 5652 |
|  |  |  |  |  | (152425) |
|  |  |  |  |  | (107530) |

---

See Notes to Portfolio of Investments.

727

------

**EQ ADVISORS TRUST** 

EQ/PIMCO GLOBAL REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  AUD | 280000 | USD | 184809 | Barclays Bank plc | 10/2/2025 | 467 |
|  AUD | 635000 | USD | 419652 | JPMorgan Chase Bank | 10/2/2025 | 528 |
|  BRL | 1531260 | USD | 282000 | Barclays Bank plc<sup>\*\*</sup> | 10/2/2025 | 5709 |
|  EUR | 609000 | USD | 712257 | Barclays Bank plc | 10/2/2025 | 2740 |
|  JPY | 199520140 | USD | 1332088 | Bank of America | 10/2/2025 | 17069 |
|  NZD | 607092 | USD | 349564 | Bank of America | 10/2/2025 | 2398 |
|  USD | 1543023 | CAD | 2132356 | JPMorgan Chase Bank | 10/2/2025 | 10828 |
|  USD | 364232 | EUR | 310000 | Barclays Bank plc | 10/2/2025 | 277 |
|  USD | 1772240 | GBP | 1298000 | JPMorgan Chase Bank | 10/2/2025 | 26560 |
|  USD | 2759983 | JPY | 404946637 | Bank of America | 10/2/2025 | 21729 |
|  USD | 1961808 | JPY | 288003026 | Barclays Bank plc | 10/2/2025 | 14329 |
|  USD | 59809 | NZD | 102000 | Barclays Bank plc | 10/2/2025 | 674 |
|  USD | 297141 | NZD | 506091 | Deutsche Bank AG | 10/2/2025 | 3735 |
|  USD | 104069 | NZD | 177000 | JPMorgan Chase Bank | 10/2/2025 | 1453 |
|  TRY | 109133 | USD | 2543 | Barclays Bank plc | 10/15/2025 | 54 |
|  USD | 5733410 | EUR | 4871000 | JPMorgan Chase Bank | 11/4/2025 | 2569 |
|  USD | 15148585 | GBP | 11251693 | Goldman Sachs Bank USA | 11/4/2025 | 13541 |
|  USD | 2895843 | JPY | 426513624 | Barclays Bank plc | 11/4/2025 | 949 |
|  ZAR | 4666000 | USD | 264678 | Goldman Sachs Bank USA | 11/20/2025 | 4549 |
|  TRY | 23281430 | USD | 531000 | Barclays Bank plc | 12/1/2025 | 2094 |
|  BRL | 922130 | USD | 170263 | Goldman Sachs Bank USA<sup>\*\*</sup> | 12/2/2025 | 485 |
|  MXN | 4886000 | USD | 260975 | Bank of America | 12/17/2025 | 3629 |
|  **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | 136366 |
|  EUR | 277000 | USD | 328537 | JPMorgan Chase Bank | 10/2/2025 | (3326) |
|  GBP | 390000 | USD | 527814 | Barclays Bank plc | 10/2/2025 | (3303) |
|  JPY | 80600000 | USD | 545694 | JPMorgan Chase Bank | 10/2/2025 | (676) |
|  USD | 2823254 | AUD | 4322629 | Barclays Bank plc | 10/2/2025 | (37029) |
|  USD | 281119 | BRL | 1534291 | Goldman Sachs Bank USA<sup>\*\*</sup> | 10/2/2025 | (7159) |
|  USD | 727752 | DKK | 4648196 | JPMorgan Chase Bank | 10/2/2025 | (3321) |
|  USD | 30054466 | EUR | 25697784 | JPMorgan Chase Bank | 10/2/2025 | (116018) |
|  USD | 26183453 | GBP | 19475090 | Barclays Bank plc | 10/2/2025 | (8596) |
|  USD | 107346 | JPY | 15900000 | Barclays Bank plc | 10/2/2025 | (170) |
|  USD | 1020225 | SEK | 9656826 | Barclays Bank plc | 10/2/2025 | (5525) |
|  USD | 2252612 | AUD | 3407629 | Barclays Bank plc | 11/4/2025 | (3327) |
|  USD | 1532085 | CAD | 2131129 | Goldman Sachs Bank USA | 11/4/2025 | (1850) |
|  USD | 730125 | DKK | 4637808 | JPMorgan Chase Bank | 11/4/2025 | (1099) |
|  USD | 29509631 | EUR | 25121784 | Barclays Bank plc | 11/4/2025 | (46714) |
|  USD | 12282029 | GBP | 9131397 | JPMorgan Chase Bank | 11/4/2025 | (930) |
|  USD | 1332088 | JPY | 198829319 | Bank of America | 11/4/2025 | (17435) |
|  USD | 350004 | NZD | 607092 | Bank of America | 11/4/2025 | (2432) |
|  USD | 1024608 | SEK | 9631523 | JPMorgan Chase Bank | 11/4/2025 | (773) |
|  USD | 236936 | PEN | 840365 | Bank of America<sup>\*\*</sup> | 12/17/2025 | (4614) |
|  **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | (264297) |
|  **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | (127931) |

---

\*\* *Non-deliverable forward.* 

See Notes to Portfolio of Investments.

728

------

**EQ ADVISORS TRUST** 

EQ/PIMCO GLOBAL REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Written Call Options Contracts as of September 30, 2025 (Note 1):** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Number of<br>Contracts** | **Notional**<br>**Amount** | **Notional**<br>**Amount** | **Exercise Price** | **Exercise Price** | **Expiration<br>Date** | **Value ($)** |
|  3 Month SOFR | Exchange Traded | 84 | USD | (21000000) | USD | 96.56 | 12/12/2025 | (4725) |
|  3 Month SONIA | Exchange Traded | 46 | GBP | (11500000) | GBP | 94.25 | 3/13/2026 | (387) |
|  |  |  |  |  |  |  |  | (5112) |

---

**Written Put Options Contracts as of September 30, 2025 (Note 1):** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Number of<br>Contracts** | **Notional**<br>**Amount** | **Notional**<br>**Amount** | **Exercise Price** | **Exercise Price** | **Expiration<br>Date** | **Value ($)** |
|  Mid-Curve 1-Year EURIBOR | Exchange Traded | 28 | EUR | (7000000) | EUR | 97.82 | 12/12/2025 | (1849) |
|  Total Written Options Contracts (Premiums Received ($45965)) | Total Written Options Contracts (Premiums Received ($45965)) | Total Written Options Contracts (Premiums Received ($45965)) |  |  |  |  |  | (6961) |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates, prepayment<br>speeds, credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in determining<br>the fair value of<br>investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Asset-Backed Securities** | $— | $2221812 | $— | $2221812 |
|  **Collateralized Mortgage Obligations** |  | 3646905 |  | 3646905 |
|  **Commercial Mortgage-Backed Securities** |  | 51556 |  | 51556 |
|  **Corporate Bonds** |  |  |  |  |
|  Financials |  | 2588408 |  | 2588408 |
|  Industrials |  | 1623557 |  | 1623557 |
|  **Foreign Government Securities** |  | 76664984 |  | 76664984 |
|  **Forward Currency Contracts** |  | 136366 |  | 136366 |
|  **Futures** | 63241 |  |  | 63241 |
|  **Mortgage-Backed Securities** |  | 17327951 |  | 17327951 |
|  **Options Purchased** |  |  |  |  |
|  Call Options Purchased | 22877 |  |  | 22877 |
|  Put Options Purchased | 822 |  |  | 822 |
|  **Supranational** |  | 3996978 |  | 3996978 |
|  **U.S. Treasury Obligations** |  | 61891368 |  | 61891368 |
|  **Total Assets** | $**86940** | $**170149885** | $**—** | $**170236825** |
|  **Liabilities:** |  |  |  |  |
|  **Forward Currency Contracts** | $— | $(264297) | $— | $(264297) |
|  **Futures** | (170771) |  |  | (170771) |
|  **Options Written** |  |  |  |  |
|  Call Options Written | (5112) |  |  | (5112) |
|  Put Options Written | (1849) |  |  | (1849) |
|  **Total Liabilities** | $**(177732)** | $**(264297)** | $**—** | $**(442029)** |
|  **Total** | $**(90792)** | $**169885588** | $**—** | $**169794796** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $8118922 |
|  Aggregate gross unrealized depreciation | (25697509) |
|  Net unrealized depreciation | $(17578587) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $187373383 |

---

See Notes to Portfolio of Investments.

729

------

**EQ ADVISORS TRUST** 

EQ/PIMCO REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Asset-Backed Securities (5.8%)** |  |  |
|  37 Capital CLO 1 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.598%, 10/15/34(l)§ | $400000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400375 |
|  Arbour CLO VI DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 6A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.186%, 11/15/37(l)§ | 400000 | 469682 |
|  Argent Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-W1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.752%, 5/25/35(l) | $13166 | 11967 |
|  Bain Capital Credit CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2A ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.565%, 7/19/34(l)§ | 400000 | 400397 |
|  Bear Stearns Asset-Backed Securities I Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-HE1 M4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.249%, 1/25/35(l) | 309016 | 312510 |
|  BlueMountain CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-3A A1R2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.411%, 11/15/30(l)§ | 142301 | 142346 |
|  C-Bass Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-CB9 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.392%, 11/25/36(l) | 1505 | 663 |
|  CIFC European Funding CLO III DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 3A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.076%, 1/15/34(l)§ | 250000 | 293659 |
|  CIT Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.522%, 10/25/37(l)§ | $136177 | 136154 |
|  Citigroup Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-AMC2 A3A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.432%, 1/25/37(l) | 2996 | 2179 |
|  Countrywide Asset-Backed Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-19 2A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.772%, 3/25/37(l) | 13785 | 13670 |
|  Credit-Based Asset Servicing & Securitization LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-CB3 M4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.475%, 6/25/35(l) | 20702 | 20043 |
|  CWABS, Inc. Asset-backed Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-12 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.012%, 8/25/47(l) | 8158 | 8051 |
|  Ellington Loan Acquisition Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.372%, 5/25/37(l)§ | 12564 | 12391 |
|  First Franklin Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-FF12 M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.977%, 11/25/36(l) | 63242 | 60349 |
|  Fremont Home Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-C 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.542%, 10/25/36(l) | 23536 | 21335 |
|  GSAMP Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-FM1 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.342%, 12/25/36(l) | 2482 | 1146 |
|  IndyMac INDB Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.412%, 7/25/36(l) | 16626 | 5008 |
|  Jamestown CLO XVIII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-18A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.588%, 7/25/35(l)§ | 400000 | 399710 |
|  Lehman ABS Manufactured Housing Contract Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2001-B M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.170%, 4/15/40(l) | 30228 | 28367 |
|  Lehman XS Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-7 1A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.592%, 5/25/36(l) | 19553 | 18722 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-8 3A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.379%, 6/25/36(e) | 8792 | 8645 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-20N A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.572%, 12/25/37(l) | 18890 | 20815 |
|  Madison Park Funding XXXIX Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-39A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.582%, 10/22/34(l)§ | 400000 | 399206 |
|  Merrill Lynch Life Agency, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.512%, 2/25/37(l) | 8244 | 2312 |
|  Merrill Lynch Mortgage Investors Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-RM4 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.432%, 9/25/37(l) | 489 | 95 |
|  Morgan Stanley ABS Capital I, Inc. Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HE8 A2D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.492%, 10/25/36(l) | 641708 | 277792 |
|  Morgan Stanley IXIS Real Estate Capital Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.322%, 11/25/36(l) | 306 | 98 |
|  OZLM XXIV Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-24A A1AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.747%, 7/20/32(l)§ | 107789 | 107779 |
|  Palmer Square European Loan Funding DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.006%, 5/15/33(l)§ | 240533 | 282513 |
|  Park Place Securities, Inc. Asset-Backed Pass- Through Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-WCW2 M3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.322%, 10/25/34(l) | $39818 | 39459 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-WHQ4 M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.007%, 9/25/35(l) | 5710 | 5606 |
|  Regatta XVI Funding Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.518%, 1/15/33(l)§ | 371436 | 372081 |
|  Renaissance Home Equity Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2002-3 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.032%, 12/25/32(l) | 1389 | 1304 |
|  Saxon Asset Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3 1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.582%, 9/25/37(l) | 21648 | 20925 |

---

See Notes to Portfolio of Investments.

730

------

**EQ ADVISORS TRUST** 

EQ/PIMCO REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Securitized Asset-Backed Receivables LLC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HE1 A2C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.592%, 7/25/36(l) | $151756 | $50789 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-HE1 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.392%, 12/25/36(l) | 9747 | 2026 |
|  Soundview Home Equity Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.492%, 2/25/37(l) | 494656 | 126557 |
|  Soundview Home Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-NLC1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.392%, 11/25/36(l)§ | 1584 | 431 |
|  United States Small Business Administration, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2008-20H 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.020%, 8/1/28 | 1241 | 1273 |
|  Voya Euro CLO II DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.986%, 7/15/35(l)§ | &nbsp;&nbsp;&nbsp;&nbsp;400000 | 469385 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Asset- Backed Securities** |  | 4947815 |
|  **Collateralized Mortgage Obligations (8.8%)** |  |  |
|  Alliance Bancorp Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OA1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.752%, 7/25/37(l) | $18440 | 16182 |
|  Alternative Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-62 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.153%, 12/25/35(l) | 630 | 542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA11 A1B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.652%, 9/25/46(l) | 35710 | 34909 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA19 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.430%, 2/20/47(l) | 6014 | 4853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1T1 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 3/25/37 | 95253 | 31333 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-4CB 1A35 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/25/37 | 24141 | 20210 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OA7 A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.632%, 5/25/47(l) | 2336 | 2165 |
|  Banc of America Funding Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.063%, 2/20/36(l) | 1838 | 1756 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-J 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.522%, 1/20/47(l) | 52928 | 45614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-J 4A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.971%, 1/20/47(l) | 1761 | 1525 |
|  Banc of America Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-E 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.333%, 6/25/35(l) | 338 | 309 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.046%, 2/25/36(l) | 2442 | 2268 |
|  Bear Stearns ALT-A Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-7 22A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.838%, 9/25/35(l) | 17092 | 9305 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-2 23A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.058%, 3/25/36(l) | 5760 | 4685 |
|  Bear Stearns ARM Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-10 13A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.302%, 1/25/35(l) | 1702 | 1660 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-1 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.807%, 3/25/35(l) | 2765 | 2539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-9 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.420%, 10/25/35(l) | 3055 | 2920 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-2 3A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.225%, 7/25/36(l) | 2376 | 2034 |
|  Beignet, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.850%, 6/1/49 | 400000 | 400000 |
|  CHL Mortgage Pass- Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-19 1A6 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/25/35 | 659 | 477 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-9 1A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.732%, 5/25/35(l) | 126052 | 111173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-6 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/25/36 | 9884 | 4619 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HYB3 3A1B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.032%, 5/20/36(l) | 1523 | 1418 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 3/25/37 | 30636 | 13372 |
|  Citigroup Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR1 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.300%, 3/25/36(l) | 1973 | 1992 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-10 22AA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.487%, 9/25/37(l) | 4744 | 4384 |
|  CSMC Mortgage-Backed Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-6 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.420%, 10/25/37(l) | 107389 | 62079 |
|  CSMC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-4R 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.886%, 10/26/36(l)§ | 3440 | 3118 |
|  Deutsche Alt-B Securities Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AB4 A1B1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.372%, 10/25/36(l) | 121 | 101 |
|  Eurosail-UK plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3X A3A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.044%, 6/13/45(l)(m) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8969 | 12051 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3X A3C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.044%, 6/13/45(l)(m) | 3985 | 5354 |
|  FHLMC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 278 F1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.937%, 9/15/42 |  |  |
|  STRIPS(l) | $40438 | 39817 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5584 DF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/25/55(l) | 1000000 | 1000995 |
|  FHLMC Structured Pass- Through Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series T-32 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.532%, 8/25/31(l) | 261 | 259 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series T-62 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.353%, 10/25/44(l) | 22130 | 20314 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series T-63 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.353%, 2/25/45(l) | 6958 | 6748 |
|  First Horizon Alternative Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AA1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.856%, 6/25/34(l) | 1521 | 1522 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-FA8 1A7 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/25/37 | 9171 | 3278 |

---

See Notes to Portfolio of Investments.

731

------

**EQ ADVISORS TRUST** 

EQ/PIMCO REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  First Horizon Mortgage Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR3 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.002%, 8/25/35(l) | $2767 | $1848 |
|  FNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-W8 3F2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.821%, 5/25/42(l) | 491 | 489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-63 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.613%, 8/25/34(l) | 97 | 96 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-30 KF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.911%, 5/25/36(l) | 154 | 153 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-5 3A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.373%, 5/25/35(l) | 1366 | 1397 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-63 FC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.821%, 7/25/37(l) | 45 | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-47 FJ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.386%, 6/25/55(l) | 387943 | 390411 |
|  GNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-H10 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.592%, 4/20/67(l) | 24850 | 25187 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-H15 FG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.927%, 8/20/68(l) | 81469 | 81741 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H09 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.189%, 4/20/73(l) | 435316 | 435787 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H15 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.389%, 3/20/73(l) | 397937 | 400056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H19 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.289%, 8/20/73(l) | 1160118 | 1164945 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-159 FJ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.510%, 9/20/55(l) | 900000 | 900712 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-H19 DF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 9/20/75(l) | 900000 | 889342 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-H22 F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.922%, 10/20/75(l)(r) | 900000 | 900000 |
|  GreenPoint Mortgage Funding Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR5 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.812%, 11/25/45(l) | 2787 | 2645 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR4 A6A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.632%, 9/25/46(l) | 38798 | 36113 |
|  GreenPoint MTA Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR1 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.712%, 6/25/45(l) | 1659 | 1514 |
|  GSR Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-12 3A6 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.406%, 12/25/34(l) | 1975 | 1861 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR1 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 1/25/35(l) | 675 | 643 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR4 6A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.010%, 7/25/35(l) | 744 | 709 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR6 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.191%, 9/25/35(l) | 1527 | 1471 |
|  HarborView Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-13 2A11 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.808%, 2/19/36(l) | 1667 | 710 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2 2A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.688%, 5/19/35(l) | 678 | 655 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-9 2A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.930%, 6/20/35(l) | 1283 | 1231 |
|  IndyMac INDA Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR1 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.062%, 11/25/35(l) | 552 | 574 |
|  IndyMac INDX Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR10 2A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.052%, 5/25/34(l) | 175 | 165 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR11 2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.580%, 12/25/34(l) | 1073 | 1012 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR14 1A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.832%, 7/25/35(l) | 3158 | 2308 |
|  JP Morgan Alternative Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A1 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.732%, 3/25/36(l) | 52070 | 49153 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A7 1A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.732%, 12/25/36(l) | 20160 | 17908 |
|  JP Morgan Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A1 6T1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.583%, 2/25/35(l) | 802 | 783 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A6 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.037%, 8/25/35(l) | 1305 | 1244 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A6 4A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.203%, 9/25/35(l) | 182 | 171 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A6 7A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.106%, 8/25/35(l) | 1311 | 1159 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-A1 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.913%, 7/25/35(l) | 842 | 841 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-A1 3A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.204%, 7/25/35(l) | 1812 | 1744 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2008-R2 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.063%, 7/27/37(l)§ | 6166 | 5729 |
|  MASTR Adjustable Rate Mortgages Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-13 3A7 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.578%, 11/21/34(l) | 982 | 942 |
|  Mellon Residential Funding Corp. Mortgage Pass- Through Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2001-TBC1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.965%, 11/15/31(l) | 437 | 424 |
|  Morgan Stanley Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-8AR 5A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.035%, 6/25/36(l) | 2750 | 2702 |
|  MRFC Mortgage Pass- Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2000-TBC3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.705%, 12/15/30(l) | 471 | 460 |
|  New Residential Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-RPL2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 2/25/59(l)§ | 26618 | 25929 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-RPL3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 7/25/59(l)§ | 116148 | 112184 |
|  Opteum Mortgage Acceptance Corp. Asset- Backed Pass-Through Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-5 1A1D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.032%, 12/25/35(l) | 86665 | 85521 |
|  RALI Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-QO1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.572%, 8/25/35(l) | 1235 | 857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-QH8 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.139%, 10/25/37(l) | 26176 | 20904 |

---

See Notes to Portfolio of Investments.

732

------

**EQ ADVISORS TRUST** 

EQ/PIMCO REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Residential Asset Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A5 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.672%, 5/25/35(l) | $15005 | $8984 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A10 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 9/25/36 | 8433 | 2487 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-A6 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 6/25/37 | 124964 | 22726 |
|  RFMSI Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-S6 1A10 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/25/37 | 3606 | 2874 |
|  Sequoia Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 7/20/36(l) | 4392 | 3795 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.948%, 10/19/26(l) | 175 | 173 |
|  Structured Adjustable Rate Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-1 4A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.336%, 2/25/34(l) | 628 | 607 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-19 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.553%, 1/25/35(l) | 1109 | 1019 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-17 3A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.529%, 8/25/35(l) | 1020 | 884 |
|  Structured Asset Mortgage Investments II Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR5 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.908%, 10/19/34(l) | 392 | 377 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR5 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.748%, 7/19/35(l) | 1036 | 997 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR5 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.748%, 7/19/35(l) | 518 | 516 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR5 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.748%, 7/19/35(l) | 2479 | 2439 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR3 11A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.692%, 4/25/36(l) | 1737 | 1580 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR4 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.652%, 6/25/36(l) | 486 | 480 |
|  Towd Point Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-HY2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.272%, 5/25/58(l)§ | 11782 | 12040 |
|  WaMu Mortgage Pass- Through Certificates Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2002-AR17 1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.353%, 11/25/42(l) | 129 | 124 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR14 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.051%, 12/25/35(l) | 545 | 509 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR3 A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.153%, 2/25/46(l) | 1275 | 1171 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR7 3A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.201%, 7/25/46(l) | 7201 | 6571 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OA4 1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.923%, 5/25/47(l) | 3230 | 2858 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** |  | 7523566 |
|  **Commercial Mortgage-Backed Securities (0.6%)** |  |  |
|  FHLMC Multifamily Structured Pass-Through Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series KBX1 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.920%, 1/25/26 | 94094 | 93532 |
|  WSTN Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-MAUI A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.518%, 7/5/37(l)§ | 400000 | 408199 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Mortgage- Backed Securities** |  | 501731 |
|  **Corporate Bonds (0.0%)†** |  |  |
|  **Financials (0.0%)†** |  |  |
|  ***Banks (0.0%)†*** |  |  |
|  Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series FF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 3.19%), 5.875%, 3/15/28(k)(y) | 20000 | 20050 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 20050 |
|  **Information Technology (0.0%)†** |  |  |
|  ***Software (0.0%)†*** |  |  |
|  VMware LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 8/21/27 | 10000 | 9964 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 9964 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  | 30014 |
|  **Foreign Government Securities (2.8%)** |  |  |
|  Buoni Poliennali del Tesoro |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 5/15/36 TIPS(m) | 103754 | 121116 |
|  Canada Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/1/26 TIPS | 262861 | 196702 |
|  French Republic |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 3/1/26 TIPS(m)  | 122226 | 142918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 7/25/31 TIPS(m) | 122416 | 136210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 7/25/38 TIPS(m) | 240390 | 228658 |
|  Japan Government Bond CPI Linked |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 3/10/28 TIPS | 121146470 | 832970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.100%, 3/10/29 TIPS | 100070710 | 690715 |
|  Mexican Udibonos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 8/24/34 TIPS | 34211 | 1790 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Foreign Government Securities** |  | 2351079 |
|  **Mortgage-Backed Securities (12.9%)** |  |  |
|  FHLMC UMBS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/52 | $86094 | 75697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/1/52 | 82840 | 80747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/1/54 | 1085380 | 1096064 |
|  FNMA UMBS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/1/48 | 84695 | 78863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/1/51 | 813166 | 714969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/1/52 | 930357 | 880084 |
|  FNMA/FHLMC UMBS, 30 Year, Single Family |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/25/55 TBA | 2400000 | 2328750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/25/55 TBA | 1800000 | 1860187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/25/55 TBA | 1800000 | 1838461 |
|  GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/20/52 | 268934 | 246180 |

---

See Notes to Portfolio of Investments.

733

------

**EQ ADVISORS TRUST** 

EQ/PIMCO REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/15/55 TBA | $| 2000000 | $1824688 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Mortgage-Backed Securities** |  |  | 11024690 |
|  **U.S. Treasury Obligations (108.2%)** |  |  |  |
|  U.S. Treasury Inflation Linked Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 1/15/26 TIPS |  | 1236999 | 1238463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 1/15/27 TIPS |  | 32038 | 32600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 1/15/28 TIPS |  | 2528913 | 2570258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 4/15/28 TIPS |  | 2596529 | 2761506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 1/15/29 TIPS |  | 1008116 | 1053565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 4/15/29 TIPS |  | 1161368 | 1269601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/15/40 TIPS |  | 851939 | 856874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/15/41 TIPS |  | 354041 | 353114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 2/15/42 TIPS |  | 1515450 | 1199284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 2/15/43 TIPS |  | 758754 | 574771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 2/15/44 TIPS |  | 2106902 | 1797641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 2/15/45 TIPS |  | 2633971 | 1957915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 2/15/46 TIPS |  | 2004183 | 1540687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 2/15/47 TIPS |  | 1619307 | 1192471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 2/15/48 TIPS |  | 694316 | 518710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 2/15/49 TIPS |  | 128379 | 94441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 2/15/50 TIPS |  | 691092 | 407132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 2/15/51 TIPS |  | 818935 | 452585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 2/15/52 TIPS |  | 348144 | 188104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 2/15/53 TIPS |  | 652062 | 520559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/15/54 TIPS |  | 736820 | 678796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 2/15/55 TIPS(z) |  | 819008 | 798439 |
|  U.S. Treasury Inflation Linked Notes |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 4/15/26 TIPS |  | 1847745 | 1837870 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 7/15/26 TIPS |  | 256065 | 255125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 10/15/26 TIPS |  | 1418652 | 1410506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 1/15/27 TIPS |  | 1618194 | 1605420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 4/15/27 TIPS |  | 457660 | 451170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 7/15/27 TIPS |  | 4318427 | 4288558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 10/15/27 TIPS |  | 3162566 | 3212900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 1/15/28 TIPS |  | 4924322 | 4866442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 7/15/28 TIPS |  | 2586790 | 2574172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 10/15/28 TIPS |  | 1476580 | 1537617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 1/15/29 TIPS |  | 767634 | 761778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 4/15/29 TIPS |  | 1566630 | 1616831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 7/15/29 TIPS |  | 2140649 | 2075918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 10/15/29 TIPS |  | 2874676 | 2931881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 1/15/30 TIPS |  | 2398215 | 2289104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 4/15/30 TIPS |  | 1928158 | 1957795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 7/15/30 TIPS |  | 1700973 | 1617170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 1/15/31 TIPS |  | 645310 | 605837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 7/15/31 TIPS(z) |  | 9678639 | 9036811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 1/15/32 TIPS |  | 2214241 | 2037959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 7/15/32 TIPS(z) |  | 7449462 | 7049815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 1/15/33 TIPS |  | 2819700 | 2732065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 7/15/33 TIPS |  | 3191040 | 3141176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 1/15/34 TIPS |  | 1576410 | 1583316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 7/15/34 TIPS(z) |  | 3294496 | 3341821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 1/15/35 TIPS(z) |  | 3275648 | 3370861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 7/15/35 TIPS(z) |  | 1911533 | 1926303 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  |  | 92173737 |
|  **Total Long-Term Debt Securities (139.1%)**<br> *(Cost $119,623,465)* |  |  | 118552632 |
|  SHORT-TERM INVESTMENTS: |  |  |  |
|  **U.S. Government Agency Securities (60.6%)** |  |  |  |
|  FFCB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.84%, 11/20/25(o)(p) |  | 17400000 | 17305798 |
|  FHLB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.67%, 10/17/25(o)(p) |  | 800000 | 798617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.71%, 10/24/25(o)(p) |  | 25000000 | 24938380 |
|  FHLMC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.84%, 12/1/25(o)(p) |  | 8600000 | 8543532 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Government Agency Securities** | &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Government Agency Securities** | &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Government Agency Securities** | 51586327 |
|  **Total Short-Term Investments (60.6%)**<br> *(Cost $51,582,776)* |  |  | 51586327 |
|  **Total Investments in Securities (199.7%)**<br> *(Cost $171,206,241)* |  |  | 170138959 |
|  **Other Assets Less Liabilities (-99.7%)** | **Other Assets Less Liabilities (-99.7%)** | **Other Assets Less Liabilities (-99.7%)** | (84932329) |
|  **Net Assets (100%)** |  |  | $85206630 |

---

See Notes to Portfolio of Investments.

734

------

**EQ ADVISORS TRUST** 

EQ/PIMCO REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | |
|:---|:---|
| *†* | *Percent shown is less than 0.05%.* |
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At September 30, 2025, the market value of these securities amounted to $4,453,308 or 5.2% of net assets.* |
| *(e)* | *Step Bond - Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of September 30, 2025. Maturity date disclosed is the ultimate maturity date.* |
| *(k)* | *Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of September 30, 2025.* |
| *(l)* | *Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of September 30, 2025.* |
| *(m)* | *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $646,307 or 0.8% of net assets.* |
| *(o)* | *Discount Note Security. Effective rate calculated as of September 30, 2025.* |
| *(p)* | *Yield to maturity.* |
| *(r)* | *Fair value determined using significant unobservable inputs.* |
| *(y)* | *Securities are perpetual and, thus, do not have a predetermined maturity date. The coupon rate for these securities are fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of September 30, 2025.* |
| *(z)* | *All or a portion of the Security is held as a Sale-Buyback position.* |

---

*Glossary:* 

*ARM — Adjustable Rate Mortgage* 

*AUD — Australian Dollar* 

*CAD — Canadian Dollar* 

*CME — Chicago Mercantile Exchange* 

*CLO — Collateralized Loan Obligation* 

*CPI — Consumer Price Index* 

*EUR — European Currency Unit* 

*EURIBOR — Euro Interbank Offered Rate* 

*FFCB — Federal Farm Credit Bank* 

*FHLB — Federal Home Loan Bank* 

*FHLMC — Federal Home Loan Mortgage Corp.* 

*FNMA — Federal National Mortgage Association* 

*GBP — British Pound* 

*GNMA — Government National Mortgage Association* 

*HICPXT — Harmonised Index of Consumer Prices ex Tobacco* 

*JPY — Japanese Yen* 

*MXN — Mexican Peso* 

*OAT — Obligations Assimilables du Trésor* 

*SOFR — Secured Overnight Financing Rate* 

*SONIA — Sterling Over Night Index Average* 

*STRIPS — Separate Trading of Registered Interest and Principal Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities.* 

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

*TIPS — Treasury Inflation Protected Security* 

*TONAR — Tokyo Over-Night Average Rate* 

*UKRPI — United Kingdom Retail Price Index* 

*UMBS — Uniform Mortgage-Backed Securities* 

*USCPI — United States Consumer Price Index* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

735

------

**EQ ADVISORS TRUST** 

EQ/PIMCO REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  Euro-Bobl | 3 | 12/2025 | EUR | 414944 | 133 |
|  Euro-BTP | 10 | 12/2025 | EUR | 1406982 | 12101 |
|  Euro-Schatz | 31 | 12/2025 | EUR | 3893596 | (3930) |
|  U.S. Treasury 10 Year Note | 36 | 12/2025 | USD | 4050000 | 17906 |
|  U.S. Treasury Ultra Bond | 22 | 12/2025 | USD | 2641375 | 78859 |
|  |  |  |  |  | 105069 |
|  **Short Contracts** |  |  |  |  |  |
|  Euro-Bund | (9) | 12/2025 | EUR | (1358529) | (7988) |
|  Euro-OAT | (26) | 12/2025 | EUR | (3704245) | (31254) |
|  U.S. Treasury 2 Year Note | (15) | 12/2025 | USD | (3125977) | (5526) |
|  U.S. Treasury 5 Year Note | (43) | 12/2025 | USD | (4695398) | (1498) |
|  U.S. Treasury 10 Year Ultra |  |  |  |  |  |
|  Note | (1) | 12/2025 | USD | (115078) | (1369) |
|  U.S. Treasury Long Bond | (28) | 12/2025 | USD | (3264625) | (72445) |
|  |  |  |  |  | (120080) |
|  |  |  |  |  | (15011) |

---

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement**<br>**Date** | **Unrealized**<br>**Appreciation**<br>**(Depreciation) ($)** |
|  CAD | 255951 | USD | 183649 | Citibank NA | 10/2/2025 | 264 |
|  JPY | 50947966 | USD | 340152 | Bank of America | 10/2/2025 | 4359 |
|  JPY | 69103952 | USD | 462884 | Morgan Stanley | 10/2/2025 | 4398 |
|  USD | 185199 | CAD | 255933 | JPMorgan Chase Bank | 10/2/2025 | 1300 |
|  USD | 662793 | JPY | 97245452 | Bank of America | 10/2/2025 | 5218 |
|  USD | 471805 | JPY | 69139298 | HSBC Bank plc | 10/2/2025 | 4284 |
|  USD | 427926 | JPY | 63144247 | Morgan Stanley | 10/2/2025 | 944 |
|  **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** |  | 20767 |
|  USD | 31380 | AUD | 48000 | Citibank NA | 10/2/2025 | (382) |
|  USD | 23413 | EUR | 20000 | Citibank NA | 10/2/2025 | (68) |
|  USD | 2191924 | EUR | 1874183 | JPMorgan Chase Bank | 10/2/2025 | (8461) |
|  USD | 118322 | GBP | 88000 | Barclays Bank plc | 10/2/2025 | (29) |
|  USD | 31730 | AUD | 48000 | Barclays Bank plc | 11/4/2025 | (47) |
|  USD | 183649 | CAD | 255546 | Citibank NA | 11/4/2025 | (287) |
|  USD | 2225027 | EUR | 1894183 | Barclays Bank plc | 11/4/2025 | (3522) |
|  USD | 118363 | GBP | 88000 | JPMorgan Chase Bank | 11/4/2025 | (9) |
|  USD | 340152 | JPY | 50771563 | Bank of America | 11/4/2025 | (4452) |
|  USD | 733865 | JPY | 108526105 | HSBC Bank plc | 11/4/2025 | (2738) |
|  USD | 466446 | JPY | 69389976 | Morgan Stanley | 11/4/2025 | (4528) |
|  **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** |  | (24523) |
|  **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** |  | (3756) |

---

See Notes to Portfolio of Investments.

736

------

**EQ ADVISORS TRUST** 

EQ/PIMCO REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Written Call Swaption Contracts as of September 30, 2025 (Note 1):** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Number of<br>Contracts** | **Notional**<br>**Amount** | **Notional**<br>**Amount** | **Exercise Price** | **Exercise Price** | **Expiration<br>Date** | **Value ($)** |
|  4 Years, January 2027 @2.44% v.6 |  |  |  |  |  |  |  |  |
|  Month EURIBOR | Barclays Bank plc | 300000 | EUR | (300000) | EUR | 2.44 | 1/25/2027 | (1857) |

---

**Written Put Swaption Contracts as of September 30, 2025 (Note 1):** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Number of<br>Contracts** | **Notional**<br>**Amount** | **Notional**<br>**Amount** | **Exercise Price** | **Exercise Price** | **Expiration<br>Date** | **Value ($)** |
|  4 Years, January 2027 @2.35% v.6 Month EURIBOR | Goldman Sachs Bank<br>USA | 3700000 | EUR | (3700000) | EUR | 2.35 | 1/7/2027 | (19950) |
|  4 Years, January 2027 @2.35% v.6 Month EURIBOR | Goldman Sachs Bank<br>USA | 3700000 | EUR | (3700000) | EUR | 2.35 | 1/7/2027 | (19950) |
|  4 Years, January 2027 @2.44% v.6 Month EURIBOR | Barclays Bank plc | 300000 | EUR | (300000) | EUR | 2.44 | 1/25/2027 | (1337) |
|  |  |  |  |  |  |  |  | (41237) |
|  Total Written Swaption Contracts (Premiums Received ($72496)) | Total Written Swaption Contracts (Premiums Received ($72496)) | Total Written Swaption Contracts (Premiums Received ($72496)) | Total Written Swaption Contracts (Premiums Received ($72496)) | Total Written Swaption Contracts (Premiums Received ($72496)) |  |  |  | (43094) |

---

**Centrally Cleared Inflation-linked swap contracts outstanding as of September 30, 2025(Note 1):** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Floating Rate Index<sup>(1)</sup>** | **Fixed Rate** | **Pay/ Receive<br>Floating Rate** | **Maturity<br>Date** | **Notional Amount** | **Notional Amount** | **Upfront<br>(Payments)<br>Receipts<br>($)** | **Unrealized<br>Appreciation<br>(Depreciation)<br>($)** | **Value ($)** |
|  USCPI at termination | 2.42% at termination | Receive | 3/5/2026 | USD | 1100000 | 20667 | 112663 | 133330 |
|  USCPI at termination | 2.77% at termination | Receive | 5/13/2026 | USD | 400000 | 7741 | 32342 | 40083 |
|  USCPI at termination | 2.81% at termination | Receive | 5/14/2026 | USD | 1000000 | 18800 | 78808 | 97608 |
|  USCPI at termination | 2.70% at termination | Receive | 5/25/2026 | USD | 300000 | 6194 | 24490 | 30684 |
|  HICPXT at termination | 3.00% at termination | Receive | 5/15/2027 | EUR | 200000 | 1873 | 2095 | 3968 |
|  HICPXT at termination | 1.64% at termination | Receive | 6/15/2027 | EUR | 1300000 |  | 6069 | 6069 |
|  USCPI at termination | 2.65% at termination | Receive | 9/10/2028 | USD | 100000 | 3405 | 4442 | 7847 |
|  HICPXT at termination | 2.49% at termination | Pay | 5/15/2037 | EUR | 160000 | (3992) | 4937 | 945 |
|  HICPXT at termination | 2.59% at termination | Pay | 3/15/2052 | EUR | 100000 | (3087) | 7986 | 4899 |
|  HICPXT at termination | 2.42% at termination | Pay | 5/15/2052 | EUR | 50000 | 469 | (91) | 378 |
|  HICPXT at termination | 2.42% at termination | Pay | 5/15/2052 | EUR | 20000 | (1377) | 1528 | 151 |
|  HICPXT at termination | 2.59% at termination | Pay | 12/15/2052 | EUR | 100000 | 3505 | 7738 | 11243 |
|  HICPXT at termination | 2.70% at termination | Pay | 4/15/2053 | EUR | 100000 | 8398 | 7586 | 15984 |
|  HICPXT at termination | 2.76% at termination | Pay | 9/15/2053 | EUR | 100000 | 10596 | 7741 | 18337 |
|  UKRPI at termination | 3.50% at termination | Pay | 8/15/2034 | GBP | 200000 | 1112 | 2635 | 3747 |
|  UKRPI at termination | 3.50% at termination | Pay | 8/15/2034 | GBP | 100000 | 402 | 1471 | 1873 |
|  UKRPI at termination | 3.47% at termination | Pay | 9/15/2034 | GBP | 200000 |  | 2763 | 2763 |
|  USCPI at termination | 3.44% at termination | Pay | 8/1/2026 | USD | 700000 |  | 851 | 851 |
|  USCPI at termination | 3.43% at termination | Pay | 8/27/2026 | USD | 800000 |  | 1406 | 1406 |
|  |  |  |  |  |  | 74706 | 307460 | 382166 |
|  HICPXT at termination | 2.00% at termination | Receive | 2/15/2027 | EUR | 400000 | (26) | (944) | (970) |
|  UKRPI at termination | 3.37% at termination | Receive | 9/15/2027 | GBP | 300000 |  | (310) | (310) |
|  HICPXT at termination | 1.38% at termination | Pay | 3/15/2031 | EUR | 90000 | (14243) | (4889) | (19132) |
|  USCPI at termination | 2.21% at termination | Pay | 10/7/2025 | USD | 702000 |  | (3772) | (3772) |
|  USCPI at termination | 2.38% at termination | Pay | 10/15/2025 | USD | 400000 |  | (1678) | (1678) |
|  USCPI at termination | 2.70% at termination | Pay | 1/14/2026 | USD | 600000 |  | (2473) | (2473) |
|  USCPI at termination | 3.04% at termination | Pay | 2/21/2026 | USD | 400000 |  | (503) | (503) |
|  USCPI at termination | 1.76% at termination | Pay | 11/4/2029 | USD | 900000 | (96491) | (69607) | (166098) |
|  USCPI at termination | 1.88% at termination | Pay | 11/20/2029 | USD | 300000 | (29881) | (21777) | (51658) |
|  |  |  |  |  |  | (140641) | (105953) | (246594) |
|  Total Centrally Cleared inflation-linked swap contracts outstanding | Total Centrally Cleared inflation-linked swap contracts outstanding | Total Centrally Cleared inflation-linked swap contracts outstanding | Total Centrally Cleared inflation-linked swap contracts outstanding | Total Centrally Cleared inflation-linked swap contracts outstanding | Total Centrally Cleared inflation-linked swap contracts outstanding | (65935) | 201507 | 135572 |

---

See Notes to Portfolio of Investments.

737

------

**EQ ADVISORS TRUST** 

EQ/PIMCO REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Centrally Cleared Interest rate swap contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Floating Rate Index<sup>(1)</sup>** | **Fixed Rate** | **Pay/ Receive<br>Floating Rate** | **Maturity<br>Date** | **Notional Amount** | **Notional Amount** | **Upfront<br>(Payments)**<br>**Receipts<br>($)** | **Unrealized<br>Appreciation<br>(Depreciation)<br>($)** | **Value ($)** |
|  6 month EURIBOR Semi-Annual | 2.75 annually | Pay | 3/18/2036 | EUR | 1250000 | (5698) | 7776 | 2078 |
|  6 month EURIBOR Semi-Annual | 2.75 annually | Pay | 3/18/2036 | EUR | 1250000 | (5826) | 7904 | 2078 |
|  6 month EURIBOR Semi-Annual | 2.75 annually | Pay | 3/18/2036 | EUR | 1250000 | (3308) | 5386 | 2078 |
|  6 month EURIBOR Semi-Annual | 0.19 annually | Receive | 11/4/2052 | EUR | 250000 | 112722 | 40726 | 153448 |
|  6 month EURIBOR Semi-Annual | 0.20 annually | Receive | 11/8/2052 | EUR | 700000 | 314659 | 113907 | 428566 |
|  6 month EURIBOR Semi-Annual | 2.11 annually | Receive | 9/2/2027 | EUR | 2600000 |  | 2016 | 2016 |
|  6 month EURIBOR Semi-Annual | 2.75 annually | Pay | 3/18/2036 | EUR | 1250000 | (4187) | 6265 | 2078 |
|  1 day SOFR Annual | 4.25 annually | Receive | 12/20/2025 | USD | 840000 | (20) | 809 | 789 |
|  1 day SOFR Annual | 3.50 annually | Receive | 6/20/2054 | USD | 200000 | 5014 | 10879 | 15893 |
|  1 day TONAR Annual | 0.55 annually | Receive | 9/14/2028 | JPY | 40000000 | (781) | 4767 | 3986 |
|  1 day TONAR Annual | 0.50 annually | Receive | 12/15/2031 | JPY | 115850000 | 11578 | 23517 | 35095 |
|  1 day SOFR Annual | 3.30 annually | Receive | 2/28/2030 | USD | 1100000 | (178) | 1265 | 1087 |
|  1 day SOFR Annual | 2.87 annually | Receive | 2/13/2054 | USD | 1200000 | 94704 | 139813 | 234517 |
|  1 day SOFR Annual | 3.25 annually | Receive | 6/18/2034 | USD | 350000 | 14668 | (4690) | 9978 |
|  1 day SOFR Annual | 3.25 annually | Receive | 3/19/2055 | USD | 1400000 | 179566 | (2159) | 177407 |
|  1 day SOFR Annual | 3.33 annually | Receive | 2/28/2030 | USD | 1900000 | (14934) | 14948 | 14 |
|  1 day SOFR Annual | 3.33 annually | Receive | 2/28/2030 | USD | 100000 | (470) | 471 | 1 |
|  1 day SOFR Annual | 3.25 annually | Receive | 6/18/2034 | USD | 1150000 | 48148 | (15362) | 32786 |
|  1 day SOFR Annual | 3.50 annually | Receive | 6/20/2054 | USD | 300000 | 7655 | 16184 | 23839 |
|  |  |  |  |  |  | 753312 | 374422 | 1127734 |
|  6 month EURIBOR Semi-Annual | 3.00 annually | Receive | 3/18/2056 | EUR | 142000 | (2655) | (31) | (2686) |
|  6 month EURIBOR Semi-Annual | 3.00 annually | Receive | 3/18/2056 | EUR | 260000 | (3741) | (1176) | (4917) |
|  6 month EURIBOR Semi-Annual | 3.00 annually | Receive | 3/18/2056 | EUR | 270000 | (3771) | (1335) | (5106) |
|  6 month EURIBOR Semi-Annual | 3.00 annually | Receive | 3/18/2056 | EUR | 88000 | (1888) | 224 | (1664) |
|  1 day SONIA Annual | 3.75 annually | Pay | 9/17/2030 | GBP | 1300000 | (6440) | (638) | (7078) |
|  1 day SONIA Annual | 3.75 annually | Pay | 9/17/2030 | GBP | 1300000 | (6441) | (637) | (7078) |
|  1 day SONIA Annual | 3.75 annually | Pay | 9/17/2030 | GBP | 300000 | (892) | (741) | (1633) |
|  1 day SOFR Annual | 4.10 annually | Receive | 11/15/2053 | USD | 215000 | (1469) | (3970) | (5439) |
|  1 day SOFR Annual | 3.70 annually | Receive | 5/15/2035 | USD | 82000 | (107) | (408) | (515) |
|  1 day SOFR Annual | 3.70 annually | Receive | 5/15/2035 | USD | 90000 | (1544) | 978 | (566) |
|  1 day SOFR Annual | 3.70 annually | Receive | 5/15/2035 | USD | 99000 | (534) | (88) | (622) |
|  1 day SOFR Annual | 4.76 annually | Receive | 1/18/2026 | USD | 2200000 |  | (10264) | (10264) |
|  1 day SOFR Annual | 4.10 annually | Receive | 11/15/2053 | USD | 284300 | (11046) | 3854 | (7192) |
|  1 day SOFR Annual | 3.70 annually | Receive | 5/15/2035 | USD | 89000 | (1554) | 995 | (559) |
|  1 day SOFR Annual | 4.75 annually | Receive | 1/18/2026 | USD | 700000 |  | (3213) | (3213) |
|  1 day SOFR Annual | 3.70 annually | Receive | 5/15/2035 | USD | 50000 | (911) | 597 | (314) |
|  |  |  |  |  |  | (42993) | (15853) | (58846) |
|  Total Centrally Cleared Interest rate swap contracts outstanding | Total Centrally Cleared Interest rate swap contracts outstanding | Total Centrally Cleared Interest rate swap contracts outstanding | Total Centrally Cleared Interest rate swap contracts outstanding |  |  | 710319 | 358569 | 1068888 |

---

See Notes to Portfolio of Investments.

738

------

**EQ ADVISORS TRUST** 

EQ/PIMCO REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

(1) Value of floating rate index at September 30, 2025 was as follows:

---

| | |
|:---|:---|
| **Floating Rate Index** | **Value** |
|  1 day SOFR USD | 4.24% |
|  1 day SONIA GBP | 3.97% |
|  1 day TONAR JPY | 0.47% |
|  6 month EURIBOR EUR | 2.10% |
|  HICPXT EUR | 1.29% |
|  UKRPI GBP | 4.08% |
|  USCPI USD | 3.24% |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Asset-Backed Securities** | $— | $4947815 | $— | $4947815 |
|  **Centrally Cleared Inflation-linked Swaps** |  | 307551 |  | 307551 |
|  **Centrally Cleared Interest Rate Swaps** |  | 403281 |  | 403281 |
|  **Collateralized Mortgage Obligations** |  | 6623566 | 900000 | 7523566 |
|  **Commercial Mortgage-Backed Securities** |  | 501731 |  | 501731 |
|  **Corporate Bonds** |  |  |  |  |
|  Financials |  | 20050 |  | 20050 |
|  Information Technology |  | 9964 |  | 9964 |
|  **Foreign Government Securities** |  | 2351079 |  | 2351079 |
|  **Forward Currency Contracts** |  | 20767 |  | 20767 |
|  **Futures** | 108999 |  |  | 108999 |
|  **Mortgage-Backed Securities** |  | 11024690 |  | 11024690 |
|  **Short-Term Investments** |  |  |  |  |
|  U.S. Government Agency Securities |  | 51586327 |  | 51586327 |
|  **U.S. Treasury Obligations** |  | 92173737 |  | 92173737 |
|  **Total Assets** | $**108999** | $**169970558** | $**900000** | $**170979557** |
|  **Liabilities:** |  |  |  |  |
|  **Centrally Cleared Inflation-linked Swaps** | $— | $(106044) | $— | $(106044) |
|  **Centrally Cleared Interest Rate Swaps** |  | (44712) |  | (44712) |
|  **Forward Currency Contracts** |  | (24523) |  | (24523) |
|  **Futures** | (124010) |  |  | (124010) |
|  Swaptions Written |  | (43094) |  | (43094) |
|  **Total Liabilities** | $**(124010)** | $**(218373)** | $**—** | $**(342383)** |
|  **Total** | $**(15011)** | $**169752185** | $**900000** | $**170637174** |

---

See Notes to Portfolio of Investments.

739

------

**EQ ADVISORS TRUST** 

EQ/PIMCO REAL RETURN PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a reconciliation of assets for which Level 3 inputs were used in determining fair value:

---

| | |
|:---|:---|
|  | **Investment in**<br>**Collateralized Mortgage Obligation** |
|  Balance as of 12/31/2024 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized Gains (Losses) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in Unrealized Appreciation/Depreciation |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net accretion (amortization) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | 900000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Issuances |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Settlements |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers into Level 3 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers out of Level 3 |  |
|  Balance as of 9/30/2025 | $900000 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Type** | **Balance at**<br>**09/30/2025** | **Valuation<br>Technique(s)** | **Unobservable<br>Input(s)\*** | **Amount of<br>Range (Weighted<br>Average)** | **Impact to<br>Valuation from an<br>Increase/Decrease<br>in Input(a)** |
|  Collateralized Mortgage Obligation | $900000 | Price at cost | Trade Price | 0.00% | Not Applicable |

---

\* Level 3 values are based on significant unobservable inputs that reflect the Manager's determination of assumptions that market participants might reasonably use in valuing the securities. Fair value determinations and valuation of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred. 

(a) Represents the directional change in the fair value of the Level 3 investments that could have resulted from an
increase in the corresponding input as of period end. A decrease to the unobservable input would have had the opposite effect. Significant changes in these inputs may have resulted in a significantly higher or lower fair value measurement at period
end.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $5476894 |
|  Aggregate gross unrealized depreciation | (13227539) |
|  Net unrealized depreciation | $(7750645) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $179032203 |

---

See Notes to Portfolio of Investments.

740

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Asset-Backed Securities (11.3%)** |  |  |
|  Accredited Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-2 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.532%, 9/25/36(l) | $21728 | $21593 |
|  American Airlines Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-3 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 10/15/28 | 119578 | 111997 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-3 AA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/15/28 | 179487 | 172321 |
|  Ameriquest Mortgage Securities, Inc. Asset- Backed Pass-Through Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-R9 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.977%, 11/25/35(l) | 47462 | 47044 |
|  Arbor Realty Commercial Real Estate Notes Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FL1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.822%, 1/15/37(l)§ | 395732 | 395732 |
|  Ares European CLO XIV DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 14A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.054%, 10/21/34(l)§ | 452870 | 531817 |
|  Ares XXVII CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-2A AR3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.464%, 10/28/34(l)§ | $700000 | 700000 |
|  Argent Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-W2 A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.652%, 3/25/36(l) | 201445 | 109597 |
|  Argent Securities, Inc. Asset-Backed Pass-Through Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-M1 A2C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.572%, 7/25/36(l) | 615840 | 164463 |
|  Bear Stearns Asset-Backed Securities I Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HE7 2A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.592%, 8/25/36(l) | 12439 | 12215 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HE9 1A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.572%, 11/25/36(l) | 100079 | 98279 |
|  BlueMountain CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-3A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.508%, 10/25/30(l)§ | 313248 | 313713 |
|  BlueMountain Fuji Eur CLO V DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.936%, 1/15/33(l)§ | 680568 | 797757 |
|  BMW Vehicle Lease Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.980%, 3/25/27 | $423425 | 424959 |
|  BRSP Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.398%, 8/19/38(l)§ | 293013 | 292645 |
|  C-Bass Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-CB9 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.392%, 11/25/36(l) | 10533 | 4638 |
|  Citigroup Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-WF2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 5/25/36(e) | 95761 | 47984 |
|  Crown Point CLO 7 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-7A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.555%, 10/20/31(l)§ | 212978 | 212989 |
|  CVC Cordatus Loan Fund VII DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 7A ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.644%, 9/15/31(l)§ | 396501 | 464296 |
|  CWABS Asset-Backed Certificates Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-21 2A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.732%, 5/25/37(l) | $200065 | 190606 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-24 1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.552%, 6/25/47(l) | 590567 | 540107 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-3 M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.857%, 6/25/36(l) | 626347 | 611795 |
|  Elevation CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-16A A1AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.448%, 7/25/34(l)§ | 700000 | 700342 |
|  EMC Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2001-A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.012%, 5/25/40(l)§ | 1825 | 1819 |
|  FHF Issuer Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.690%, 2/15/30§ | 271412 | 274010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.890%, 6/15/30§ | 418869 | 423635 |
|  FHF Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.430%, 1/18/28§ | 100202 | 100143 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.570%, 6/15/28§ | 89174 | 89825 |
|  Fremont Home Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-D M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.887%, 11/25/35(l) | 275667 | 249830 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-E 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.332%, 1/25/37(l) | 2009 | 908 |
|  FS Rialto Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FL4 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.287%, 1/19/39(l)§ | 301691 | 301692 |
|  GoodLeap Sustainable Home Solutions Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2CS A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/20/49§ | 695264 | 605511 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3C A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 7/20/55§ | 405639 | 395360 |
|  GreatAmerica Leasing Receivables Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.520%, 10/15/27§ | 500000 | 501446 |
|  GreenSky Home Improvement Issuer Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.320%, 3/25/60§ | 500000 | 509727 |
|  Greywolf CLO III Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-3RA A1R2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.562%, 4/22/33(l)§ | 682653 | 683164 |
|  GSAA Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-7 AF2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.995%, 3/25/46(l) | 226634 | 81530 |
|  GSAMP Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-NC2 A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.452%, 6/25/36(l) | 106974 | 57849 |
|  GSPA Monetization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.422%, 10/9/29§ | 167502 | 173343 |
|  Home Equity Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-FRE1 2AV3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.502%, 4/25/37(l) | 169384 | 165453 |

---

See Notes to Portfolio of Investments.

741

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  JetBlue Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/32 | $634980 | $600116 |
|  JP Morgan Mortgage Acquisition Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-FRE1 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.706%, 10/25/35(l) | 38721 | 38179 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-FRE1 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.857%, 5/25/35(l) | 24808 | 24615 |
|  JP Morgan Mortgage Acquisition Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-CH3 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.532%, 3/25/37(l) | 20575 | 20406 |
|  Lehman XS Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-8 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 6/25/36(l) | 7170 | 8631 |
|  Madison Park Funding XLIX Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-49A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 10/19/34(l)§ | 800000 | 800682 |
|  Madison Park Funding XLVI Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-46A ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.318%, 10/15/34(l)§ | 700000 | 700560 |
|  Madison Park Funding XXXVI Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-36A A1RR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.378%, 4/15/35(l)§ | 700000 | 699982 |
|  MASTR Asset-Backed Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-FRE2 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.752%, 3/25/36(l) | 132425 | 78869 |
|  MF1 LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-FL17 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, 2/18/40(l)§ | 500000 | 500918 |
|  MF1 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-FL4 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.957%, 12/15/35(l)§ | 116537 | 116721 |
|  Morgan Stanley ABS Capital I, Inc. Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HE5 A2D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.772%, 8/25/36(l) | 406986 | 193448 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-WMC2 A2C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.572%, 7/25/36(l) | 223416 | 80093 |
|  Mosaic Solar Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.640%, 1/20/53§ | 982228 | 839843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.910%, 11/20/53§ | 133041 | 131997 |
|  Newcastle Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-1 M5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.992%, 3/25/36(l) | 900000 | 885936 |
|  NovaStar Mortgage Funding Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-5 A2D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.752%, 11/25/36(l) | 95148 | 26712 |
|  Ocean Trails CLO XI, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-11A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.355%, 7/20/34(l)§ | 700000 | 700210 |
|  Option One Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-3 2A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.552%, 2/25/37(l) | 1053192 | 493573 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-5 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.492%, 5/25/37(l) | 298716 | 175785 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-CP1 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.412%, 3/25/37(l) | 124810 | 112154 |
|  Option One Mortgage Loan Trust Asset-Backed Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-4 M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.962%, 11/25/35(l) | 237879 | 226216 |
|  Pikes Peak CLO 4, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-4A ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.528%, 7/15/34(l)§ | 700000 | 700784 |
|  Post Road Equipment Finance LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 5/15/31§ | 800000 | 803681 |
|  RASC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-EMX5 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.932%, 12/25/35(l) | 81080 | 70355 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-EMX2 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.872%, 2/25/36(l) | 91112 | 89520 |
|  RCKT Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES9 A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.795%, 9/25/55(e)§ | 300000 | 300003 |
|  Ready Capital Mortgage Financing LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL7 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.472%, 11/25/36(l)§ | 152928 | 152917 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-FL11 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.532%, 10/25/39(l)§ | 3577 | 3587 |
|  Regatta XVI Funding Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.518%, 1/15/33(l)§ | 650013 | 651141 |
|  Renaissance Home Equity Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-4 AF2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.285%, 1/25/37(e) | 544629 | 160766 |
|  Sandstone Peak Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.598%, 10/15/34(l)§ | 700000 | 701370 |
|  Securitized Asset-Backed Receivables LLC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-BR5 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.532%, 5/25/37(l) | 26189 | 19843 |
|  SG Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-FRE1 A2C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.812%, 2/25/36(l) | 61310 | 29098 |
|  Soundview Home Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OPT5 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.172%, 10/25/37(l) | 467072 | 364801 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-WMC1 3A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.492%, 2/25/37(l) | 69086 | 17675 |
|  Specialty Underwriting & Residential Finance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-BC5 A2D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.572%, 11/25/37(l) | 473170 | 262208 |

---

See Notes to Portfolio of Investments.

742

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Stonepeak ABS, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A AA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.301%, 2/28/33§ | $239247 | $231184 |
|  Structured Asset Securities Corp. Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-GEL2 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.172%, 5/25/37(l)§ | 90182 | 88330 |
|  STWD Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 4/18/38(l)§ | 358259 | 358231 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FL3 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.722%, 11/15/38(l)§ | 425279 | 425079 |
|  Sunnova Helios XI Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 5/20/50§ | 523862 | 482218 |
|  Sunnova Sol IV Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.790%, 2/22/49§ | 1407272 | 1209225 |
|  Sunrun Demeter Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.270%, 1/30/57§ | 643711 | 579625 |
|  Tesla Sustainable Energy Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.080%, 6/21/50§ | 434918 | 438052 |
|  Trinitas CLO XIX Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-19A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.435%, 10/20/33(l)§ | 700000 | 700228 |
|  United Airlines Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-2 AA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 10/7/28 | 481771 | 459012 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/15/27 | 368777 | 377106 |
|  WaMu Asset-Backed Certificates Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-HE2 2A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.772%, 4/25/37(l) | 194120 | 66893 |
|  Wind River CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.122%, 7/20/34(l)§ | 300000 | 300310 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Asset-Backed Securities** |  | 29081022 |
|  **Collateralized Mortgage Obligations (3.6%)** |  |  |
|  Alba plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.263%, 3/17/39(l)(m) | 169638 | 224659 |
|  Alternative Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-32T1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.272%, 8/25/35(l) | $85591 | 44946 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-45T1 1A16 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/25/37 | 227460 | 87968 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA11 A1B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.652%, 9/25/46(l) | 204942 | 200348 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA12 A1B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.440%, 9/20/46(l) | 37548 | 38710 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA3 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.672%, 5/25/36(l) | 24541 | 21174 |
|  American Home Mortgage Assets Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 6/25/36(e) | 476974 | 64685 |
|  Banc of America Funding Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-D A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.334%, 5/25/35(l) | 3553 | 3324 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-2 1A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 3/25/37 | 49361 | 39124 |
|  Banc of America Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-D 2A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.022%, 5/25/33(l) | 32 | 31 |
|  BCAP LLC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-AA2 12A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.692%, 5/25/47(l) | 41787 | 40238 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2011-RR5 12A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.480%, 3/26/37(e)§ | 6144 | 6121 |
|  Bear Stearns ALT-A Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-4 23A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.425%, 5/25/35(l) | 10858 | 10394 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-7 22A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.838%, 9/25/35(l) | 16024 | 8723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-3 35A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.714%, 5/25/36(l) | 45850 | 21698 |
|  Bear Stearns ARM Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2002-11 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 2/25/33(l) | 8 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-1 6A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.575%, 4/25/33(l) | 505 | 509 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-8 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.923%, 1/25/34(l) | 3301 | 3162 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-1 12A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.278%, 4/25/34(l) | 6630 | 5928 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-10 22A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 1/25/35(l) | 2918 | 2614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-10 23A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.028%, 1/25/35(l) | 964 | 915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-3 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.839%, 7/25/34(l) | 6313 | 5921 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-8 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.391%, 11/25/34(l) | 14741 | 13547 |
|  Bear Stearns Structured Products, Inc. Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-R6 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.972%, 1/26/36(l) | 18969 | 13256 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-R6 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.965%, 12/26/46(l) | 19527 | 15402 |
|  Beignet, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.850%, 6/1/49 | 3000000 | 3000000 |
|  Chase Mortgage Finance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A2 3A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.435%, 1/25/36(l) | 24610 | 22130 |
|  CHL Mortgage Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-22 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.097%, 11/25/34(l) | 11727 | 11290 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-HYB9 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.388%, 2/20/35(l) | 1525 | 1535 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-HYB9 3A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.224%, 2/20/36(l) | 1618 | 1403 |

---

See Notes to Portfolio of Investments.

743

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Citigroup Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-11 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.480%, 10/25/35(l) | $1412 | $1472 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2009-7 5A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/25/35§ | 53449 | 25822 |
|  Citigroup Mortgage Loan Trust, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2 1A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.469%, 5/25/35(l) | 4041 | 3893 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.190%, 9/25/35(l) | 21658 | 21517 |
|  Deutsche Alt-A Securities Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-AR2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.572%, 3/25/37(l) | 82765 | 77568 |
|  Deutsche Alt-A Securities, Inc. Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-1 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.772%, 2/25/35(l) | 2118 | 2096 |
|  FHLMC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2248 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.987%, 9/15/30(l) | 24 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 3360 FC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.207%, 5/15/37(l) | 2944 | 2949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4989 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 8/15/40(l) | 156374 | 154294 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4989 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 10/15/40(l) | 115181 | 113570 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5560 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, 6/25/55(l) | 481226 | 483795 |
|  FHLMC Structured Pass-Through Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series T-63 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.353%, 2/25/45(l) | 2319 | 2249 |
|  First Horizon Alternative Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AA6 3A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.601%, 8/25/35(l) | 27836 | 22953 |
|  First Horizon Mortgage Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR4 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.747%, 10/25/35(l) | 18802 | 17219 |
|  FNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-25 KP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/25/33 | 4470 | 4464 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-W2 5AF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.821%, 3/25/44(l) | 3521 | 3513 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-79 NF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.881%, 9/25/35(l) | 3173 | 3154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-118 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.523%, 12/25/36(l) | 2304 | 2254 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-5 3A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.373%, 5/25/35(l) | 1366 | 1397 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-42 AF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.721%, 5/25/37(l) | 327 | 322 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-73 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.523%, 7/25/37(l) | 5127 | 5035 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-58 AI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.980%, 8/25/55 IO(l) | 122149 | 6844 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-83 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 10/25/55(l) | 500000 | 500305 |
|  GNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H18 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.066%, 7/20/65(l) | 109385 | 109365 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H19 FK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.066%, 8/20/65(l) | 90616 | 90564 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H02 FH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.466%, 1/20/66(l) | 40784 | 40974 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H14 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.266%, 6/20/66(l) | 40462 | 40558 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H17 FC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.296%, 8/20/66(l) | 151713 | 152145 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H17 FM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.916%, 8/20/66(l) | 428 | 426 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H20 PT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.183%, 9/20/66(l) | 185193 | 189374 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H22 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.236%, 10/20/66(l) | 83557 | 83719 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-H10 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.592%, 4/20/67(l) | 149099 | 151120 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-38 WF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.695%, 10/20/43(l) | 115471 | 111838 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H02 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.289%, 1/20/73(l) | 292677 | 293052 |
|  GSR Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR6 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.191%, 9/25/35(l) | 13439 | 12942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR7 6A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.290%, 11/25/35(l) | 3787 | 3300 |
|  HarborView Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-12 2A12 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.748%, 10/19/35(l) | 45116 | 32397 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-14 4A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.754%, 12/19/35(l) | 57292 | 28173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2 2A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.688%, 5/19/35(l) | 5424 | 5237 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-4 3A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.815%, 7/19/35(l) | 20372 | 15127 |
|  IndyMac INDX Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR35 2A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.612%, 1/25/37(l) | 41498 | 37354 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR9 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.561%, 6/25/36(l) | 160231 | 109293 |
|  JP Morgan Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-S3 1A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 1/25/36 | 10419 | 4378 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A3 6A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.960%, 8/25/34(l) | 11657 | 11558 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A6 1A4L |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.274%, 10/25/36(l) | 41346 | 29579 |
|  Landmark Mortgage Securities No. 3 plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 3 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.401%, 4/17/44(l)(m) | 343736 | 453012 |
|  Merrill Lynch Mortgage Investors Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-1 2A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.087%, 4/25/35(l) | $24248 | 21768 |
|  Morgan Stanley Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-3AR 3A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.252%, 7/25/35(l) | 35825 | 29125 |

---

See Notes to Portfolio of Investments.

744

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  MortgageIT Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-5 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.892%, 12/25/35(l) | $18197 | $18164 |
|  Prime Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-CL1 1A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.672%, 2/25/34(l) | 452 | 430 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-CL1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.772%, 2/25/35(l) | 7912 | 7900 |
|  RALI Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-QA13 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.263%, 12/25/35(l) | 6493 | 5710 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-QS12 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 9/25/36 | 140219 | 57653 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-QS13 1A10 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 9/25/36 | 8615 | 6901 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-QA3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.472%, 5/25/37(l) | 148354 | 134800 |
|  Residential Asset Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A11 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.722%, 10/25/35(l) | 32220 | 18872 |
|  RFMSI Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-S6 1A11 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/25/37 | 45074 | 35924 |
|  STARM Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.958%, 2/25/37(l) | 19749 | 16970 |
|  Structured Adjustable Rate Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.672%, 4/25/47(l) | 23878 | 19648 |
|  Structured Asset Mortgage Investments II Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR5 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.748%, 7/19/35(l) | 12392 | 12193 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR6 1A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.652%, 7/25/46(l) | 546112 | 437482 |
|  Structured Asset Mortgage Investments Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2002-AR3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.908%, 9/19/32(l) | 159 | 152 |
|  Thornburg Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.633%, 3/25/37(l) | 19494 | 13724 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3 3A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.583%, 6/25/47(l) | 71532 | 62535 |
|  Wachovia Mortgage Loan LLC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.987%, 5/20/36(l) | 2227 | 2174 |
|  WaMu Mortgage Pass-Through Certificates Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR13 A1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.852%, 10/25/45(l) | 1958 | 1937 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR6 1A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.772%, 2/25/45(l) | 161491 | 161882 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR16 3A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.206%, 12/25/36(l) | 9535 | 8541 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-HY5 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.411%, 5/25/37(l) | 63801 | 52426 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-HY7 4A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.662%, 7/25/37(l) | 35999 | 32794 |
|  Warwick Finance Residential Mortgages Number Three plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 3A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.921%, 12/21/49(l)§ | 215188 | 289884 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 3A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.621%, 12/21/49(l)§ | 100000 | 135792 |
|  Wells Fargo Mortgage Backed Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR16 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.729%, 10/25/36(l) | $274878 | 259646 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** |  | 9216985 |
|  **Commercial Mortgage-Backed Securities (5.7%)** |  |  |
|  Arbor Multifamily Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-MF1 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.756%, 5/15/53§ | 600000 | 559696 |
|  Benchmark Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B9 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.016%, 3/15/52 | 800000 | 783202 |
|  BIG Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-BIG A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.492%, 2/15/39(l)§ | 562524 | 556993 |
|  BX Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ARIA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.164%, 10/15/36(l)§ | 900000 | 899437 |
|  CFCRE Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C7 ASB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.644%, 12/10/54 | 63477 | 63187 |
|  Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-COR3 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.228%, 5/10/51 | 700000 | 680204 |
|  DC Office Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-MTC A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.965%, 9/15/45§ | 1300000 | 1181123 |
|  DOLP Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NYC A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.956%, 5/10/41§ | 1000000 | 892037 |
|  Extended Stay America Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ESH A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.344%, 7/15/38(l)§ | 674621 | 674621 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ESH A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.344%, 7/15/38(l)§ | 421638 | 421638 |
|  FNMA ACES, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-M33 X2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.349%, 1/25/31 IO(l) | 1843412 | 98060 |
|  GS Mortgage Securities Corp. Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-GPTX A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.856%, 5/10/34§ | 339416 | 292331 |
|  GS Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-GS3 WMB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.722%, 10/10/49(l)§ | 100000 | 88390 |

---

See Notes to Portfolio of Investments.

745

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Hilton USA Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-SFP A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.828%, 11/5/35§ | $600000 | $502376 |
|  JP Morgan Chase Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-HTL5 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.530%, 11/15/38(l)§ | 800000 | 799250 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NYAH A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.275%, 6/15/38(l)§ | 700000 | 681899 |
|  Morgan Stanley Capital I Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-CNP A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.509%, 4/5/42(l)§ | 800000 | 705463 |
|  MSSG Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-237P A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.397%, 9/13/39§ | 700000 | 668689 |
|  New Orleans Hotel Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-HNLA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.187%, 4/15/32(l)§ | 500000 | 497008 |
|  NYO Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1290 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.360%, 11/15/38(l)§ | 400000 | 398757 |
|  ONE Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-PARK A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.964%, 3/15/36(l)§ | 700000 | 689597 |
|  STWD Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-LIH A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.123%, 11/15/36(l)§ | 1200000 | 1197750 |
|  Wells Fargo Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C48 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.302%, 1/15/52 | 800000 | 799293 |
|  Worldwide Plaza Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-WWP A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.526%, 11/10/36§ | 900000 | 608706 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Mortgage-Backed Securities** |  | 14739707 |
|  **Corporate Bonds (28.0%)** |  |  |
|  **Communication Services (0.4%)** |  |  |
|  ***Media (0.3%)*** |  |  |
|  Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 1/15/29 | 800000 | 743424 |
|  ***Wireless Telecommunication Services (0.1%)*** |  |  |
|  Sprint Spectrum Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.152%, 3/20/28§ | 200000 | 201369 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 944793 |
|  **Consumer Discretionary (2.2%)** |  |  |
|  ***Automobiles (1.5%)*** |  |  |
|  BMW US Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 3/21/28§ | 200000 | 202973 |
|  Mercedes-Benz Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/30/26§ | 600000 | 602104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 11/15/27§ | 200000 | 203130 |
|  Nissan Motor Acceptance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.850%, 9/16/26§ | 800000 | 772000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 3/9/28§ | 800000 | 750024 |
|  Nissan Motor Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 9/17/30§ | 800000 | 752008 |
|  Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 9/11/28§ | 600000 | 602067 |
|  |  | 3884306 |
|  ***Hotels, Restaurants & Leisure (0.7%)*** |  |  |
|  Choice Hotels International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 12/1/29 | 700000 | 668397 |
|  Expedia Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 2/15/30 | 500000 | 477768 |
|  Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/15/31 | 500000 | 498084 |
|  |  | 1644249 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 5528555 |
|  **Consumer Staples (0.6%)** |  |  |
|  ***Food Products (0.4%)*** |  |  |
|  JDE Peet's NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 9/24/31§ | 400000 | 346754 |
|  Mondelez International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 7/3/31 | 700000 | 526928 |
|  |  | 873682 |
|  ***Personal Care Products (0.2%)*** |  |  |
|  Coty, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/15/27§ | 500000 | 595889 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 1469571 |
|  **Energy (0.4%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (0.4%)*** |  |  |
|  ONEOK Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.850%, 10/15/37 | $800000 | 880357 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 880357 |
|  **Financials (11.2%)** |  |  |
|  ***Banks (5.6%)*** |  |  |
|  Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.99%), 6.204%, 11/10/28(k) | 600000 | 625342 |
|  Barclays plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 2.667%, 3/10/32(k) | 700000 | 632376 |
|  BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (ASX Australia Bank Bill Short Term Rates 3 Month Mid + 1.35%), 5.060%, 7/17/27(k)(m) | 800000 | 530879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/16/27§ | $300000 | 295523 |
|  BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.27%), 6.714%, 10/19/29(k)§ | 500000 | 531044 |
|  HSBC Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.29%), 5.130%, 3/3/31(k) | 500000 | 512296 |

---

See Notes to Portfolio of Investments.

746

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.51%), 4.875%, 5/16/29(k)(m)(y) | $300000 | $289500 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.23%), 5.066%, 3/25/31(k) | 600000 | 614133 |
|  JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.33%), 6.070%, 10/22/27(k) | 500000 | 509834 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.93%), 4.979%, 7/22/28(k) | 500000 | 507312 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.51%), 2.739%, 10/15/30(k) | 900000 | 848240 |
|  Lloyds Bank plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 4/2/32(e)(m) | 600000 | 444624 |
|  Lloyds Banking Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.38%), 5.462%, 1/5/28(k) | 400000 | 405667 |
|  Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.65%), 5.778%, 7/6/29(k) | 300000 | 312556 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.08%), 5.382%, 7/10/30(k) | 500000 | 517357 |
|  Morgan Stanley Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.87%), 5.504%, 5/26/28(k) | 500000 | 511014 |
|  Nederlandse Waterschapsbank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/1/28§ | 400000 | 402287 |
|  Norinchukin Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.430%, 3/9/28§ | 600000 | 613416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.094%, 10/16/29§ | 500000 | 510668 |
|  Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 1/12/28 | 300000 | 305463 |
|  Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.36%), 6.499%, 3/9/29(k) | 500000 | 521354 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.88%), 5.741%, 3/20/31(k) | 400000 | 412868 |
|  Santander UK Group Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.48%), 2.896%, 3/15/32(k) | 700000 | 639206 |
|  Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.30%), 6.447%, 1/12/27(k)§ | 300000 | 301450 |
|  Standard Chartered plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.15%), 5.005%, 10/15/30(k)§ | 500000 | 508625 |
|  Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.464%, 1/13/26 | 300000 | 301002 |
|  Sumitomo Mitsui Trust Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 3/10/27§ | 1600000 | 1568251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/9/28§ | 300000 | 308935 |
|  |  | 14481222 |
|  ***Capital Markets (3.5%)*** |  |  |
|  Brookfield Finance I UK plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.340%, 1/30/32 | 700000 | 610562 |
|  CPPIB Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 6/2/34(m) | 500000 | 378738 |
|  Goldman Sachs Bank USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.75%), 4.930%, 5/21/27(k) | $500000 | 500446 |
|  Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.27%), 5.727%, 4/25/30(k) | 500000 | 523030 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.21%), 5.049%, 7/23/30(k) | 500000 | 512122 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.14%), 4.692%, 10/23/30(k) | 500000 | 505427 |
|  HAT Holdings I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 6/15/26§ | 86000 | 85110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 6/15/27§ | 216000 | 224798 |
|  Lazard Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/19/28 | 700000 | 703385 |
|  LPL Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/15/30 | 500000 | 510376 |
|  Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.02%), 5.219%, 4/13/28(k) | 500000 | 501432 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.01%), 5.652%, 4/13/28(k) | 500000 | 510962 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), 5.656%, 4/18/30(k) | 500000 | 522258 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.10%), 4.654%, 10/18/30(k) | 500000 | 505022 |
|  Stifel Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/15/30 | 900000 | 880270 |
|  UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 4/15/26§ | 600000 | 599233 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.55%), 5.711%, 1/12/27(k)§ | 500000 | 501786 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.05%), 4.703%, 8/5/27(k)§ | 200000 | 200635 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.73%), 4.194%, 4/1/31(k)§ | 300000 | 296352 |
|  |  | 9071944 |

---

See Notes to Portfolio of Investments.

747

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  ***Consumer Finance (0.5%)*** |  |  |
|  Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 11/2/28 | $1500000 | $1392737 |
|  ***Financial Services (0.9%)*** |  |  |
|  BNG Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/1/30§ | 600000 | 621576 |
|  Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 5/15/30 | 700000 | 647705 |
|  HA Sustainable Infrastructure Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 1/15/31 | 500000 | 512666 |
|  Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.91%), 6.557%, 10/18/27(k)§ | 500000 | 511060 |
|  |  | 2293007 |
|  ***Insurance (0.7%)*** |  |  |
|  First American Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/15/30 | 700000 | 676157 |
|  Manulife Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.703%, 3/16/32 | 1100000 | 1053079 |
|  |  | 1729236 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 28968146 |
|  **Health Care (0.2%)** |  |  |
|  ***Pharmaceuticals (0.2%)*** |  |  |
|  Bayer US Finance II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/15/28§ | 600000 | 597378 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 597378 |
|  **Industrials (0.5%)** |  |  |
|  ***Machinery (0.1%)*** |  |  |
|  Weir Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 5/6/30§ | 300000 | 308090 |
|  ***Marine Transportation (0.4%)*** |  |  |
|  AP Moller - Maersk A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 6/20/29§ | 700000 | 707611 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 9/14/33§ | 300000 | 318668 |
|  |  | 1026279 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 1334369 |
|  **Information Technology (1.2%)** |  |  |
|  ***Semiconductors & Semiconductor Equipment (0.8%)*** |  |  |
|  Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.137%, 11/15/35§ | 115000 | 99485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.187%, 11/15/36§ | 46000 | 39298 |
|  NXP BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 3/1/26 | 500000 | 500710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/15/33 | 1400000 | 1416800 |
|  |  | 2056293 |
|  ***Software (0.4%)*** |  |  |
|  Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 9/26/30 | 600000 | 598631 |
|  VMware LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 5/15/30 | 500000 | 506307 |
|  |  | 1104938 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 3161231 |
|  **Materials (0.4%)** |  |  |
|  ***Containers & Packaging (0.4%)*** |  |  |
|  Smurfit Kappa Treasury ULC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 1/15/30 | 600000 | 617761 |
|  Smurfit Westrock Financing DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.418%, 1/15/35 | 400000 | 411267 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 1029028 |
|  **Real Estate (4.0%)** |  |  |
|  ***Diversified REITs (0.5%)*** |  |  |
|  Digital Dutch Finco BV (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 1/15/32(m) | 1200000 | 1209689 |
|  ***Health Care REITs (0.1%)*** |  |  |
|  Ventas Realty LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 10/15/26 | $200000 | 197946 |
|  ***Hotel & Resort REITs (0.1%)*** |  |  |
|  Host Hotels & Resorts LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series J |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 12/15/31 | 300000 | 266612 |
|  ***Industrial REITs (0.4%)*** |  |  |
|  Goodman US Finance Three LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 3/15/28§ | 500000 | 492831 |
|  Prologis LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 2/15/33 | 700000 | 513825 |
|  |  | 1006656 |
|  ***Office REITs (0.9%)*** |  |  |
|  COPT Defense Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 3/15/26 | $800000 | 790801 |
|  Highwoods Realty LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/15/28 | 100000 | 98768 |
|  Kilroy Realty LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/15/32 | 1700000 | 1411995 |
|  |  | 2301564 |
|  ***Real Estate Management & Development (0.1%)*** |  |  |
|  Jones Lang LaSalle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 12/1/28 | 400000 | 429421 |
|  ***Residential REITs (0.3%)*** |  |  |
|  Mid-America Apartments LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 3/15/30 | 400000 | 376183 |
|  Store Capital LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 12/1/31 | 500000 | 436441 |
|  |  | 812624 |
|  ***Specialized REITs (1.6%)*** |  |  |
|  American Tower Corp. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 10/15/30 | 400000 | 353847 |
|  EPR Properties (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 11/15/31 | 800000 | 738333 |
|  Equinix, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.550%, 3/15/28 | 1000000 | 939862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/15/31 | 800000 | 721648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 4/15/32 | 1200000 | 1149996 |

---

See Notes to Portfolio of Investments.

748

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Weyerhaeuser Co. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/15/26 | $234000 | $234437 |
|  |  | 4138123 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 10362635 |
|  **Utilities (6.9%)** |  |  |
|  ***Electric Utilities (4.9%)*** |  |  |
|  Ameren Missouri Securitization Funding I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 10/1/39 | 700000 | 700177 |
|  CenterPoint Energy Houston Electric LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 4/1/53 | 300000 | 292707 |
|  Edison International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 3/15/30 | 350000 | 363659 |
|  Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 7/12/28(e)§ | 2300000 | 2170943 |
|  Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 4/1/28 | 100000 | 102605 |
|  NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 6/15/28 | 2100000 | 1984262 |
|  Northern States Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 6/1/51 | 872000 | 539171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 6/1/52 | 700000 | 605963 |
|  Oncor Electric Delivery Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/15/31§ | 500000 | 590245 |
|  Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 10/15/32 | $500000 | 494050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 4/1/53 | 1100000 | 1180723 |
|  Public Service Electric & Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 3/15/32 | 1500000 | 1385361 |
|  RWE Finance US LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 9/18/35§ | 600000 | 592043 |
|  SCE Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.697%, 6/15/40 | 360483 | 357329 |
|  Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/15/30 | 500000 | 510249 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 10/1/43 | 50000 | 42229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/1/48 | 100000 | 76236 |
|  Wisconsin Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 4/1/33 | 300000 | 303916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 3/30/34 | 400000 | 413937 |
|  |  | 12705805 |
|  ***Independent Power and Renewable Electricity Producers (0.8%)*** |  |  |
|  AES Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 1/15/26 | 1400000 | 1388067 |
|  Clearway Energy Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 2/15/31§ | 600000 | 549720 |
|  |  | 1937787 |
|  ***Multi-Utilities (1.2%)*** |  |  |
|  Abu Dhabi National Energy Co. PJSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 3/9/37§ | 500000 | 493625 |
|  New York State Electric & Gas Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 8/15/28§ | 900000 | 933727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 8/15/34§ | 1200000 | 1225294 |
|  San Diego Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 8/15/28 | 500000 | 512749 |
|  |  | 3165395 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 17808987 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  | 72085050 |
|  **Foreign Government Securities (5.2%)** |  |  |
|  Bonos de la Tesoreria |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.300%, 8/12/33(m) | 2400000 | 771042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.850%, 8/12/35(m) | 400000 | 121772 |
|  Commonwealth of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 6/21/35(m) | 1000000 | 580801 |
|  Japan Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/20/44 | 120000000 | 742925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 3/20/45 | 67100000 | 441491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 12/20/54 | 90000000 | 518412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 3/20/55 | 97000000 | 570694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 6/20/55 | 60000000 | 383944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 3/20/64 | 52000000 | 269131 |
|  Japan International Cooperation Agency |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 4/27/27 | $600000 | 588045 |
|  Province of British Columbia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 6/18/34 | 200000 | 149887 |
|  Province of Ontario |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 12/2/34 | 400000 | 291019 |
|  Province of Quebec |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 9/1/34 | 1500000 | 1147712 |
|  Republic of Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 1/22/29 | $900000 | 919350 |
|  Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 8/12/31(m) | 321000 | 102294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 8/12/31§ | 81000 | 25812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 8/12/32§ | 4400000 | 1342563 |
|  Republic of Philippines |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1/17/48 | $600000 | 613125 |
|  Republic of South Africa |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 2/28/31 | 6500000 | 356964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 2/28/35 | 15000000 | 853307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 3/31/36 | 1200000 | 55065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 1/31/40 | 1510000 | 80083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 1/31/44 | 260000 | 13102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 2/28/48 | 1200000 | 60047 |
|  Romania Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 2/22/36§ | 600000 | 684882 |
|  State of Kuwait |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.016%, 10/9/28§ | $200000 | 200000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.652%, 10/9/35§ | 200000 | 200000 |
|  U.K. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 7/31/54(m) | 771000 | 867776 |

---

See Notes to Portfolio of Investments.

749

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.490%, 5/25/32 | 500000 | $602986 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Foreign Government Securities** |  | 13554231 |
|  **Mortgage-Backed Securities (42.9%)** |  |  |
|  FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/1/29 | $5756 | 5772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1/1/37 | 23052 | 24304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/1/41 | 19603 | 19196 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/1/48 | 51897 | 48385 |
|  FHLMC UMBS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/1/49 | 18643 | 17330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 7/1/49 | 43998 | 40922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/1/50 | 12094 | 11223 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/1/50 | 17246 | 16026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/1/52 | 884984 | 811046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/1/52 | 1943707 | 1711265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/1/52 | 214801 | 209414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/1/52 | 277581 | 262582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/1/52 | 395299 | 373938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/1/53 | 3747339 | 3538993 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/1/53 | 41549 | 39239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/1/53 | 5095929 | 5076273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/1/53 | 4830446 | 4808795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/1/53 | 1664132 | 1619488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/1/53 | 693461 | 702671 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/1/53 | 380908 | 359373 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/1/54 | 780583 | 788267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/1/54 | 8980679 | 9069083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/1/54 | 895429 | 905922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5/1/54 | 49728 | 50218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/1/54 | 252280 | 257961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/1/55 | 415329 | 431593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/1/55 | 718210 | 713869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/1/55 | 31715 | 31563 |
|  FNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.618%, 5/1/38(l) | 66457 | 68410 |
|  FNMA UMBS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/1/34 | 7675 | 7698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/1/34 | 13484 | 13927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5/1/34 | 28375 | 29307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/1/35 | 292348 | 283514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/1/38 | 17828 | 18539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/1/39 | 19978 | 20352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/1/41 | 6032 | 6039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/44 | 27177 | 27139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/1/48 | 8044 | 7490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/1/48 | 9626 | 8951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/52 | 8745798 | 8533038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/1/53 | 915130 | 864250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/53 | 920165 | 895767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/1/53 | 603301 | 604338 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/1/53 | 30716 | 31124 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/1/53 | 64604 | 65300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/1/53 | 876010 | 885126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/1/54 | 42089 | 42504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/1/54 | 806735 | 825406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/1/54 | 39002 | 39386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/1/54 | 663717 | 672173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 7/1/54 | 1684282 | 1722212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/1/55 | 39996 | 39754 |
|  FNMA/FHLMC UMBS, 30 Year, Single Family |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/25/55 TBA | 7100000 | 6238016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/25/55 TBA | 400000 | 388125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/25/55 TBA | 11200000 | 10235313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/25/55 TBA | 7650000 | 7210424 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/25/55 TBA | 21400000 | 21567187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/25/55 TBA | 5930000 | 6056708 |
|  GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/15/45 | 4974 | 4507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/15/45 | 35668 | 32401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/20/49 | 175677 | 173573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/20/49 | 2385 | 2414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/20/49 | 30180 | 30543 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/20/49 | 882850 | 894592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/20/54 | 557053 | 508312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/20/55 | 995717 | 908593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/20/55 | 2799999 | 2634600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/15/55 TBA | 2040000 | 2027090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/15/55 TBA | 3850500 | 3916380 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Mortgage-Backed Securities** |  | 110485233 |
|  **Municipal Bonds (1.0%)** |  |  |
|  California Health Facilities Financing Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.190%, 6/1/37 | 1300000 | 1227502 |
|  New York State Urban Development Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.346%, 3/15/26 | 800000 | 790358 |
|  University of Michigan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.504%, 4/1/52 | 900000 | 678170 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Municipal Bonds** |  | 2696030 |
|  **Supranational (0.7%)** |  |  |
|  European Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 2/14/33 | 500000 | 491946 |
|  European Union |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 10/5/29(m) | 1000000 | 1193559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/4/31(m) | 100000 | 115958 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 2/4/43(m) | 100000 | 81127 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Supranational** |  | 1882590 |
|  **U.S. Treasury Obligations (18.2%)** |  |  |
|  U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 11/15/40 | 11000000 | 7170849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 5/15/41 | 800000 | 592427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 2/15/42 | 300000 | 222096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 5/15/42 | 3300000 | 2769872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 2/15/43 | 2800000 | 2539396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 5/15/43 | 600000 | 543190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 5/15/44 | 900000 | 750181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 5/15/44 | 100000 | 99205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 8/15/44 | 1800000 | 1439962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 8/15/45 | 600000 | 455256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 8/15/45(z) | 3375000 | 3447246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 8/15/47 | 300000 | 217172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/15/48 | 1000000 | 754318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 5/15/48 | 100000 | 77008 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/15/48 | 12800000 | 9611411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 11/15/48 | 600000 | 481342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/15/49 | 700000 | 523514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/49 | 1300000 | 947428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/15/49 | 2360000 | 1504241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 11/15/49 | 400000 | 261380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/15/50 | 1500000 | 895792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 8/15/50 | 400000 | 200812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 11/15/50 | 1700000 | 911093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/15/51 | 2450000 | 1397983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/51 | 300000 | 192886 |

---

See Notes to Portfolio of Investments.

750

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 8/15/51 | $2075000 | $1214524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 11/15/51 | 625000 | 353192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/54 | 300000 | 288646 |
|  U.S. Treasury Inflation Linked Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 2/15/43 TIPS | 1686120 | 1277269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 2/15/44 TIPS | 138612 | 118266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 2/15/45 TIPS | 685930 | 509874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 2/15/46 TIPS | 136339 | 104809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 2/15/47 TIPS | 401481 | 295654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 2/15/49 TIPS | 128379 | 94441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 2/15/50 TIPS | 125653 | 74024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 2/15/51 TIPS | 1364891 | 754308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 2/15/52 TIPS | 464192 | 250805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 2/15/53 TIPS | 760739 | 607319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/15/54 TIPS | 1263120 | 1163650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 2/15/55 TIPS | 204752 | 199610 |
|  U.S. Treasury Inflation Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 1/15/26 TIPS | 271914 | 271174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 4/15/28 TIPS(t) | 861608 | 864719 |
|  U.S. Treasury STRIPS Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 8/15/40 STRIPS | 300000 | 148111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 5/15/41 STRIPS | 100000 | 47425 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 8/15/41 STRIPS | 300000 | 139852 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 46783732 |
|  **Total Long-Term Debt Securities (116.6%)**<br> *(Cost $312,784,772)*  |  | 300524580 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Commercial Paper (1.2%)** |  |  |
|  Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.62%, 10/7/25(n)(p)§ | 600000 | 599461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 10/21/25(n)(p)§ | 683000 | 681156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/23/25(n)(p)§ | 855000 | 852467 |
|  Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 10/16/25(n)(p)§ | 250000 | 249518 |
|  Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.26%, 11/19/25(n)(p)§ | 600000 | 596472 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Paper** |  | 2979074 |
|  **Foreign Government Treasury Bills (0.1%)** |  |  |
|  Federative Republic of Brazil |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 4/1/26(p) | 1800000 | 315855 |
|  **U.S. Treasury Obligations (4.2%)** |  |  |
|  U.S. Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 10/2/25(p) | $500000 | 499944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.47%, 10/7/25(p) | 1400000 | 1399057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 10/14/25(p) | 1300000 | 1298107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.86%, 10/21/25(p) | 100000 | 99776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.92%, 10/30/25(p) | 200000 | 199349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.93%, 11/18/25(p) | 3700000 | 3680328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.82%, 12/11/25(p)(t) | 1000000 | 992412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.84%, 12/26/25(p) | 2700000 | 2675152 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 10844125 |
|  **Total Short-Term Investments (5.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; *(Cost $14,136,162)* |  | 14139054 |
|  | **Number of<br>Contracts** | **Value**<br>**(Note 1)** |
|  OPTIONS PURCHASED: |  |  |
|  **Call Options Purchased (0.0%)†** |  |  |
|  ***Foreign Exchange Currency Options (0.0%)†*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign Exchange USD/SEK 11/26/2025 at USD 10.20, American Style Notional Amount: USD 524,000 Counterparty: Barclays Bank plc\* | 524000 | 247 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign Exchange USD/SEK 10/14/2025 at USD 10.13, American Style Notional Amount: USD 116,000 Counterparty: Morgan Stanley\* | 116000 | 1 |
|  |  | 248 |
|  **Put Options Purchased (0.0%)†** |  |  |
|  ***Foreign Exchange Currency Options (0.0%)†*** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign Exchange AUD/USD 10/14/2025 at AUD 0.62, American Style Notional Amount: AUD 188,000 Counterparty: Barclays Bank plc\* | 188000 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign Exchange AUD/USD 10/10/2025 at AUD 0.62, American Style Notional Amount: AUD 693,000 Counterparty: HSBC Bank plc\* | 693000 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign Exchange AUD/USD 10/08/2025 at AUD 0.63, American Style Notional Amount: AUD 646,000 Counterparty: Goldman Sachs Bank USA\* | 646000 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign Exchange EUR/USD 11/26/2025 at EUR 1.12, American Style Notional Amount: EUR 245,000 Counterparty: Bank of America\* | 245000 | 108 |

---

See Notes to Portfolio of Investments.

751

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Contracts** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign Exchange EUR/USD 11/24/2025 at EUR 1.11, American Style Notional Amount: EUR 1,400,000 Counterparty: Morgan Stanley\* | 1400000 | $437 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign Exchange EUR/USD 10/14/2025 at EUR 1.13, American Style Notional Amount: EUR 1,303,000 Counterparty: Goldman Sachs Bank USA\* | 1303000 | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign Exchange EUR/USD 10/10/2025 at EUR 1.13, American Style Notional Amount: EUR 1,315,000 Counterparty: Barclays Bank plc\* | 1315000 | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign Exchange EUR/USD 10/08/2025 at EUR 1.15, American Style Notional Amount: EUR 1,276,000 Counterparty: Morgan Stanley\* | 1276000 | 97 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign Exchange EUR/USD 12/17/2025 at EUR 1.10, European Style Notional Amount: EUR 62,000 Counterparty: Goldman Sachs Bank USA\* | 62000 | 1262 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign Exchange EUR/USD 12/23/2025 at EUR 1.10, European Style Notional Amount: EUR 68,000 Counterparty: HSBC Bank plc\* | 68000 | 1350 |
|  |  | 3335 |
|  **Total Options Purchased (0.0%)†<br>(***Cost $49,012***)** |  | 3583 |
|  **Total Investments in Securities (122.1%)**<br> *(Cost $326,969,946)* |  | 314667217 |
|  **Other Assets Less Liabilities (-22.1%)** | **Other Assets Less Liabilities (-22.1%)** | (56908143) |
|  **Net Assets (100%)** |  | $257759074 |

---

See Notes to Portfolio of Investments.

752

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

---

| | |
|:---|:---|
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At September 30, 2025, the market value of these securities amounted to $61,519,580 or 23.9% of net assets.*  |

---

*(e)* *Step Bond - Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of September 30, 2025. Maturity date disclosed is the ultimate maturity date.* 

*(k)* *Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of September 30, 2025.* 

*(l)* *Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of September 30, 2025.* 

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $7,365,430 or 2.9% of net assets.* 

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

*(p)* *Yield to maturity.* 

*(t)* *All, or a portion of security held by broker as collateral for centrally cleared swaps, with a total collateral value of $1,165,766.* 

*(y)* *Securities are perpetual and, thus, do not have a predetermined maturity date. The coupon rate for these securities are fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of September 30, 2025.* 

*(z)* *All or a portion of the Security is held as a Sale-Buyback position.* 

See Notes to Portfolio of Investments.

753

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*Glossary:* 

*ACES — Alternative Credit Enhancement Securities* 

*ARM — Adjustable Rate Mortgage* 

*ASX — Australian Securities Exchange* 

*AUD — Australian Dollar* 

*BBR — Bank Bill Rate* 

*BRL — Brazilian Real* 

*CAD — Canadian Dollar* 

*CDI — Interbank Certificate of Deposit* 

*CME — Chicago Mercantile Exchange* 

*CLO — Collateralized Loan Obligation* 

*CNY — Chinese Renminbi* 

*REPO_CORRA — Canadian Overnight Repo Rate Average* 

*DKK — Denmark Krone* 

*ESTR — Euro Short-Term Rate* 

*EUR — European Currency Unit* 

*EURIBOR — Euro Interbank Offered Rate* 

*FHLMC — Federal Home Loan Mortgage Corp.* 

*FNMA — Federal National Mortgage Association* 

*GBP — British Pound* 

*GNMA — Government National Mortgage Association* 

*IO — Interest Only* 

*JPY — Japanese Yen* 

*MXN — Mexican Peso* 

*PEN — Peruvian Sol* 

*REIT — Real Estate Investment Trust* 

*SEK — Swedish Krona* 

*SOFR — Secured Overnight Financing Rate* 

*SONIA — Sterling Over Night Index Average* 

*STRIPS — Separate Trading of Registered Interest and Principal Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities.* 

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

*TIPS — Treasury Inflation Protected Security* 

*TONAR — Tokyo Over-Night Average Rate* 

*TRY — Turkish Lira* 

*TWD — New Taiwan Dollar* 

*UMBS — Uniform Mortgage-Backed Securities* 

*USD — United States Dollar* 

*ZAR — South African Rand* 

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  Australia 10 Year Bond | 12 | 12/2025 | AUD | 900057 | (2599) |
|  Canada 10 Year Bond | 26 | 12/2025 | CAD | 2287821 | 47680 |
|  Long Gilt | 23 | 12/2025 | GBP | 2809926 | 13603 |
|  U.S. Treasury 2 Year Note | 5 | 12/2025 | USD | 1041992 | 1010 |
|  U.S. Treasury 5 Year Note | 228 | 12/2025 | USD | 24896531 | 26443 |
|  U.S. Treasury 10 Year Note | 244 | 12/2025 | USD | 27450000 | 121680 |
|  |  |  |  |  | 207817 |
|  **Short Contracts** |  |  |  |  |  |
|  Euro-Bund | (14) | 12/2025 | EUR | (2113267) | (12426) |
|  U.S. Treasury 10 Year Ultra Note | (25) | 12/2025 | USD | (2876953) | (27769) |
|  U.S. Treasury Long Bond | (5) | 12/2025 | USD | (582969) | (13288) |
|  |  |  |  |  | (53483) |
|  |  |  |  |  | 154334 |

---

See Notes to Portfolio of Investments.

754

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  TRY | 6032750 | USD | 141964 | Barclays Bank plc | 10/1/2025 | 3134 |
|  BRL | 6710318 | USD | 1197272 | Goldman Sachs Bank USA<sup>\*\*</sup> | 10/2/2025 | 63533 |
|  CAD | 4110625 | USD | 2949433 | Citibank NA | 10/2/2025 | 4239 |
|  JPY | 76211508 | USD | 508823 | Bank of America | 10/2/2025 | 6520 |
|  JPY | 103370486 | USD | 692414 | Morgan Stanley | 10/2/2025 | 6578 |
|  USD | 2974332 | CAD | 4110330 | JPMorgan Chase Bank | 10/2/2025 | 20872 |
|  USD | 542571 | EUR | 461000 | Citibank NA | 10/2/2025 | 1334 |
|  USD | 488644 | GBP | 362000 | Morgan Stanley | 10/2/2025 | 1790 |
|  USD | 991453 | JPY | 145466678 | Bank of America | 10/2/2025 | 7806 |
|  USD | 705759 | JPY | 103423361 | HSBC Bank plc | 10/2/2025 | 6409 |
|  USD | 640121 | JPY | 94455486 | Morgan Stanley | 10/2/2025 | 1412 |
|  TRY | 6214995 | USD | 146046 | Barclays Bank plc | 10/3/2025 | 3323 |
|  TRY | 293973 | USD | 6861 | Barclays Bank plc | 10/10/2025 | 166 |
|  TRY | 581905 | USD | 13536 | Barclays Bank plc | 10/14/2025 | 324 |
|  CNY | 16562 | USD | 2325 | HSBC Bank plc<sup>\*\*</sup> | 10/16/2025 | 4 |
|  USD | 2535 | CNY | 18000 | Citibank NA<sup>\*\*</sup> | 10/16/2025 | 4 |
|  USD | 9748 | CNY | 69287 | Goldman Sachs Bank USA<sup>\*\*</sup> | 10/16/2025 | 5 |
|  USD | 4614 | CNY | 32795 | HSBC Bank plc<sup>\*\*</sup> | 10/16/2025 | 3 |
|  MXN | 2377181 | USD | 125565 | Citibank NA | 10/20/2025 | 3980 |
|  TRY | 148255 | USD | 3430 | Barclays Bank plc | 10/20/2025 | 82 |
|  TWD | 661672 | USD | 21697 | Citibank NA<sup>\*\*</sup> | 10/20/2025 | 45 |
|  USD | 57226 | TWD | 1705115 | Barclays Bank plc<sup>\*\*</sup> | 10/20/2025 | 1197 |
|  USD | 296919 | TWD | 8801593 | Citibank NA<sup>\*\*</sup> | 10/20/2025 | 7704 |
|  ZAR | 2778535 | USD | 157518 | Barclays Bank plc | 10/20/2025 | 3161 |
|  ZAR | 626436 | USD | 35414 | JPMorgan Chase Bank | 10/20/2025 | 811 |
|  TRY | 596619 | USD | 13722 | Barclays Bank plc | 10/27/2025 | 321 |
|  TRY | 18263902 | USD | 422453 | Barclays Bank plc | 10/30/2025 | 6241 |
|  TRY | 8461992 | USD | 194972 | Barclays Bank plc | 11/3/2025 | 2984 |
|  USD | 1 | JPY | 178 | Citibank NA | 11/4/2025 |  |
|  TRY | 1693342 | USD | 38976 | Barclays Bank plc | 11/6/2025 | 548 |
|  TRY | 3690185 | USD | 84686 | Barclays Bank plc | 11/7/2025 | 1379 |
|  TRY | 36947690 | USD | 846891 | Barclays Bank plc | 11/10/2025 | 12866 |
|  TRY | 9102023 | USD | 209066 | Goldman Sachs Bank USA | 11/19/2025 | 1284 |
|  TRY | 9600644 | USD | 220454 | Barclays Bank plc | 11/20/2025 | 1250 |
|  USD | 107853 | ZAR | 1869000 | Bank of America | 11/20/2025 | 12 |
|  USD | 79755 | ZAR | 1382000 | Goldman Sachs Bank USA | 11/20/2025 | 14 |
|  TRY | 3052623 | USD | 70046 | Barclays Bank plc | 11/25/2025 | 176 |
|  BRL | 5505569 | USD | 1016557 | Goldman Sachs Bank USA<sup>\*\*</sup> | 12/2/2025 | 2898 |
|  TRY | 7942320 | USD | 181092 | Barclays Bank plc | 12/3/2025 | 459 |
|  TRY | 3180579 | USD | 72290 | Barclays Bank plc | 12/8/2025 | 102 |
|  TRY | 3202237 | USD | 72742 | Barclays Bank plc | 12/10/2025 | 18 |
|  USD | 21644 | TWD | 652632 | Citibank NA<sup>\*\*</sup> | 12/15/2025 | 112 |
|  USD | 35082 | TWD | 1050074 | Morgan Stanley<sup>\*\*</sup> | 12/15/2025 | 437 |
|  MXN | 2385000 | USD | 123195 | Goldman Sachs Bank USA | 12/17/2025 | 5966 |
|  MXN | 14064577 | USD | 755023 | JPMorgan Chase Bank | 12/17/2025 | 6652 |
|  USD | 107978 | BRL | 600000 | Goldman Sachs Bank USA<sup>\*\*</sup> | 4/2/2026 | 99 |
|  **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** |  |  | 188254 |
|  BRL | 600000 | USD | 112803 | Goldman Sachs Bank USA<sup>\*\*</sup> | 10/2/2025 | (69) |
|  USD | 1063001 | AUD | 1626000 | Citibank NA | 10/2/2025 | (12923) |
|  USD | 1311297 | BRL | 7228413 | Goldman Sachs Bank USA<sup>\*\*</sup> | 10/2/2025 | (46853) |
|  USD | 43809 | DKK | 280514 | Citibank NA | 10/2/2025 | (311) |
|  USD | 6917763 | EUR | 5914968 | JPMorgan Chase Bank | 10/2/2025 | (26704) |
|  USD | 3950713 | GBP | 2938270 | Barclays Bank plc | 10/2/2025 | (967) |
|  USD | 4653 | CNY | 33110 | Morgan Stanley<sup>\*\*</sup> | 10/16/2025 | (3) |
|  USD | 93845 | PEN | 328054 | Citibank NA<sup>\*\*</sup> | 10/16/2025 | (602) |
|  USD | 129133 | PEN | 451302 | Citibank NA<sup>\*\*</sup> | 10/17/2025 | (795) |

---

See Notes to Portfolio of Investments.

755

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Currency Purchased** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Currency Purchased**  | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  USD | 27078 | PEN | 94838 | JPMorgan Chase Bank<sup>\*\*</sup> | 10/17/2025 | (225) |
|  TWD | 656463 | USD | 21644 | Citibank NA<sup>\*\*</sup> | 10/20/2025 | (73) |
|  TWD | 1056950 | USD | 35082 | Morgan Stanley<sup>\*\*</sup> | 10/20/2025 | (351) |
|  USD | 26106 | PEN | 91071 | Bank of America<sup>\*\*</sup> | 10/20/2025 | (111) |
|  USD | 35704 | PEN | 124438 | Citibank NA<sup>\*\*</sup> | 10/20/2025 | (118) |
|  USD | 64986 | ZAR | 1130000 | Bank of America | 10/20/2025 | (360) |
|  USD | 96622 | PEN | 337211 | Citibank NA<sup>\*\*</sup> | 10/22/2025 | (447) |
|  USD | 32170 | PEN | 112441 | Citibank NA<sup>\*\*</sup> | 10/23/2025 | (196) |
|  USD | 140250 | PEN | 520846 | Citibank NA<sup>\*\*</sup> | 10/27/2025 | (9660) |
|  USD | 1074867 | AUD | 1626000 | Barclays Bank plc | 11/4/2025 | (1588) |
|  USD | 2949433 | CAD | 4104122 | Citibank NA | 11/4/2025 | (4613) |
|  USD | 44062 | DKK | 279887 | JPMorgan Chase Bank | 11/4/2025 | (66) |
|  USD | 7489613 | EUR | 6375968 | Barclays Bank plc | 11/4/2025 | (11856) |
|  USD | 4438972 | GBP | 3300270 | JPMorgan Chase Bank | 11/4/2025 | (336) |
|  USD | 508823 | JPY | 75947633 | Bank of America | 11/4/2025 | (6660) |
|  USD | 1097767 | JPY | 162340999 | HSBC Bank plc | 11/4/2025 | (4097) |
|  USD | 697742 | JPY | 103798300 | Morgan Stanley | 11/4/2025 | (6772) |
|  USD | 408097 | PEN | 1493309 | Citibank NA<sup>\*\*</sup> | 11/17/2025 | (21473) |
|  USD | 2325 | CNY | 16523 | HSBC Bank plc<sup>\*\*</sup> | 11/19/2025 | (3) |
|  USD | 400631 | ZAR | 6977000 | Bank of America | 11/20/2025 | (1940) |
|  USD | 91341 | ZAR | 1586000 | Citibank NA | 11/20/2025 | (170) |
|  USD | 145179 | ZAR | 2529000 | Morgan Stanley | 11/20/2025 | (743) |
|  USD | 21697 | TWD | 657766 | Citibank NA<sup>\*\*</sup> | 12/15/2025 | (5) |
|  USD | 125187 | PEN | 437315 | Citibank NA<sup>\*\*</sup> | 12/22/2025 | (496) |
|  USD | 210713 | BRL | 1200000 | Goldman Sachs Bank USA<sup>\*\*</sup> | 4/2/2026 | (5044) |
|  USD | 863961 | PEN | 3080712 | Citibank NA<sup>\*\*</sup> | 5/26/2026 | (17077) |
|  **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** |  |  | (183707) |
|  **Net unrealized appreciation** | **Net unrealized appreciation** | **Net unrealized appreciation** | **Net unrealized appreciation** |  |  | 4547 |

---

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

See Notes to Portfolio of Investments.

756

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Written Call Swaption Contracts as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Number of<br>Contracts** | **Notional**<br>**Amount** | **Exercise Price** | **Expiration<br>Date** | **Value ($)** |
|  10 Years, October 2025 @2.55% v.6 Month EURIBOR | Barclays Bank plc | 200000 | EUR (200000) | EUR 2.55 | 10/17/2025 | (128) |
|  10 Years, October 2025 @2.55% v.6 Month EURIBOR | Morgan Stanley | 200000 | EUR (200000) | EUR 2.55 | 10/6/2025 | (12) |
|  10 Years, October 2025 @3.33% v.1 Day SOFR | Bank of America | 400000 | USD (400000) | USD 3.33 | 10/14/2025 | (53) |
|  10 Years, October 2025 @3.38% v.1 Day SOFR | Bank of America | 500000 | USD (500000) | USD 3.38 | 10/14/2025 | (121) |
|  10 Years, October 2025 @3.39% v.1 Day SOFR | Citibank NA | 500000 | USD (500000) | USD 3.39 | 10/10/2025 | (105) |
|  10 Years, October 2025 @3.40% v.1 Day SOFR | Goldman Sachs Bank USA | 300000 | USD (300000) | USD 3.40 | 10/6/2025 | (11) |
|  10 Years, October 2025 @3.55% v.1 Day SOFR | Goldman Sachs Bank USA | 400000 | USD (400000) | USD 3.55 | 10/27/2025 | (1392) |
|  10 Years, October 2025 @3.58% v.1 Day SOFR | Bank of America | 400000 | USD (400000) | USD 3.58 | 10/2/2025 | (146) |
|  |  |  |  |  |  | (1968) |

---

**Written Put Swaption Contracts as of September 30, 2025 (Note 1):** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Number of<br>Contracts** | **Notional**<br>**Amount** | **Notional**<br>**Amount** | **Exercise Price** | **Exercise Price** | **Expiration<br>Date** | **Value ($)** |
|  10 Years, October 2025 @2.75% v.6 Month EURIBOR | Barclays Bank plc | 200000 | EUR | (200000) | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75 | 10/17/2025 | (434) |
|  10 Years, October 2025 @2.79% v.6 Month EURIBOR | Morgan Stanley | 200000 | EUR | (200000) | EUR | 2.79 | 10/6/2025 | (37) |
|  10 Years, October 2025 @3.63% v.1 Day SOFR | Bank of America | 400000 | USD | (400000) | USD | 3.63 | 10/14/2025 | (2445) |
|  10 Years, October 2025 @3.68% v.1 Day SOFR | Bank of America | 500000 | USD | (500000) | USD | 3.68 | 10/14/2025 | (1970) |
|  10 Years, October 2025 @3.69% v.1 Day SOFR | Citibank NA | 500000 | USD | (500000) | USD | 3.69 | 10/10/2025 | (1673) |
|  10 Years, October 2025 @3.70% v.1 Day SOFR | Goldman Sachs Bank USA | 300000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(300000) | USD | 3.70 | 10/6/2025 | (538) |
|  10 Years, October 2025 @3.85% v.1 Day SOFR | Goldman Sachs Bank USA | 400000 | USD | (400000) | USD | 3.85 | 10/27/2025 | (680) |
|  |  |  |  |  |  |  |  | (7777) |
|  Total Written Swaption Contracts (Premiums Received ($15019)) | Total Written Swaption Contracts (Premiums Received ($15019)) | Total Written Swaption Contracts (Premiums Received ($15019)) |  |  |  |  |  | (9745) |

---

See Notes to Portfolio of Investments.

757

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**OTC Credit default swap contracts outstanding - sell protection as of September 30, 2025 (Note 1):** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br>Obligation/Index** | **Financing<br>Rate (Paid) /<br>Received<br>by the Portfolio<br>(%)** | **Frequency of<br>Payments<br>Made/Received** | **Counterparty** | **Maturity<br>Date** | **Implied<br>Credit<br>Spread<br>(%)** | **Notional**<br>**Amount** | **Notional**<br>**Amount** | **Upfront<br>(Payments)<br>Receipts ($)** | **Unrealized<br>Appreciation<br>(Depreciation) ($)** | **Value ($)** |
|  Republic of South Africa | 1.00 | Quarterly | Bank of<br>America | 12/20/2026 | 0.39 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600000 | (18485) | 30541 | 12056 |
|  Republic of South Africa | 1.00 | Quarterly | Morgan<br>Stanley | 12/20/2026 | 0.39 | USD | 1300000 | (14391) | 24186 | 9795 |
|  iTraxx Europe Crossover Index Series 42-V3 | 5.00 | Quarterly | JPMorgan<br>Chase<br>Bank | 12/20/2029 | 0.51 | EUR | 500000 | 106196 | (6103) | 100093 |
|  |  |  |  |  |  |  |  | 73320 | 48624 | 121944 |

---

See Notes to Portfolio of Investments.

758

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Centrally Cleared Credit default swap contracts outstanding - sell protection as of September 30, 2025 (Note 1):** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br>Obligation/Index** | **Financing<br>Rate (Paid) /<br>Received<br>by the Portfolio<br>(%)** | **Frequency of<br>Payments<br>Made/Received** | **Maturity<br>Date** | **Implied<br>Credit<br>Spread<br>(%)** | **Notional**<br>**Amount** | **Notional**<br>**Amount** | **Upfront<br>(Payments)<br>Receipts ($)** | **Unrealized<br>Appreciation<br>(Depreciation) ($)** | **Value ($)** |
|  Verizon Communications, Inc. | 1.00 | Quarterly | 6/20/2028 | 0.39 | USD | 200000 | 1653 | 1568 | 3221 |
|  Verizon Communications, Inc. | 1.00 | Quarterly | 12/20/2028 | 0.43 | USD | 100000 | 844 | 922 | 1766 |
|  Verizon Communications, Inc. | 1.00 | Quarterly | 12/20/2029 | 0.51 | USD | 300000 | 4523 | 1276 | 5799 |
|  CDX North American Investment Grade Index Series 45-V1 | 1.00 | Quarterly | 12/20/2030 | 0.52 | USD | 100000 | 2265 | 24 | 2289 |
|  CDX North American Investment Grade Index Series 45-V1 | 1.00 | Quarterly | 12/20/2030 | 0.52 | USD | 200000 | 4500 | 77 | 4577 |
|  CDX North American Investment Grade Index Series 45-V1 | 1.00 | Quarterly | 12/20/2030 | 0.52 | USD | 400000 | 8992 | 162 | 9154 |
|  CDX North American Investment Grade Index Series 45-V1 | 1.00 | Quarterly | 12/20/2030 | 0.52 | USD | 500000 | 11331 | 111 | 11442 |
|  CDX North American Investment Grade Index Series 45-V1 | 1.00 | Quarterly | 12/20/2030 | 0.52 | USD | 8900000 | 197649 | 6018 | 203667 |
|  Total Centrally Cleared Credit default swap contracts outstanding | Total Centrally Cleared Credit default swap contracts outstanding | Total Centrally Cleared Credit default swap contracts outstanding | Total Centrally Cleared Credit default swap contracts outstanding | Total Centrally Cleared Credit default swap contracts outstanding |  |  | 231757 | 10158 | 241915 |

---

See Notes to Portfolio of Investments.

759

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Centrally Cleared Interest rate swap contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Floating Rate Index<sup>(1)</sup>** | **Fixed Rate** | **Pay/ Receive<br>Floating Rate** | **Maturity<br>Date** | **Notional Amount** | **Notional Amount** | **Upfront**<br>**(Payments)**<br>**Receipts**<br>**($)** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)**<br>**($)** | **Value ($)** |
|  6 month BBR Semi- Annual | 4.50 semi-annually | Pay | 9/20/2033 | AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400000 | 10890 | 12023 | 22913 |
|  6 month EURIBOR Semi-Annual | 2.75 annually | Pay | 3/18/2036 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1450000 | (6610) | 9021 | 2411 |
|  6 month BBR Semi- Annual | 4.50 semi-annually | Pay | 9/18/2034 | AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | 3769 | 7769 | 11538 |
|  6 month EURIBOR Semi-Annual | 2.75 annually | Pay | 3/18/2036 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1450000 | (4857) | 7268 | 2411 |
|  6 month EURIBOR Semi-Annual | 2.61 annually | Pay | 3/24/2035 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 |  | 874 | 874 |
|  6 month EURIBOR Semi-Annual | 2.75 annually | Pay | 3/18/2036 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1450000 | (3837) | 6248 | 2411 |
|  6 month BBR Semi- Annual | 4.50 semi-annually | Pay | 3/20/2034 | AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | 6415 | 7469 | 13884 |
|  6 month BBR Semi- Annual | 4.50 semi-annually | Pay | 9/18/2034 | AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | 300 | 1142 | 1442 |
|  6 month BBR Semi- Annual | 4.50 semi-annually | Pay | 9/18/2034 | AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | 1902 | 5309 | 7211 |
|  6 month EURIBOR Semi-Annual | 2.75 annually | Pay | 3/18/2036 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1450000 | (6758) | 9169 | 2411 |
|  1 day CDI At Termination | 13.02 at termination | Receive | 1/2/2029 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6161055 |  | 7168 | 7168 |
|  1 day CDI At Termination | 13.40 at termination | Pay | 1/2/2029 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4402984 | (153) | 3970 | 3817 |
|  1 day CDI At Termination | 13.00 at termination | Receive | 1/2/2029 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525195 |  | 1902 | 1902 |
|  1 day CDI At Termination | 13.35 at termination | Pay | 1/2/2029 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444505 |  | 81 | 81 |
|  1 day SOFR At Termination | 3.50 at termination | Receive | 12/18/2025 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100000 | (1) | 9389 | 9388 |
|  1 day ESTR Annual | 2.06 annually | Receive | 10/5/2029 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 |  | 1510 | 1510 |
|  1 day SOFR Annual | 3.50 annually | Receive | 6/20/2054 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | 5393 | 10500 | 15893 |
|  1 day SOFR Annual | 3.50 annually | Receive | 6/20/2054 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | 6767 | 9126 | 15893 |
|  1 day SOFR Annual | 3.50 annually | Receive | 6/20/2054 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | 13182 | 18603 | 31785 |
|  1 day SOFR Annual | 3.50 annually | Receive | 6/20/2054 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | 5248 | 10645 | 15893 |
|  1 day SOFR Annual | 3.76 annually | Receive | 12/17/2054 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 |  | 10815 | 10815 |
|  1 day SOFR Annual | 1.75 annually | Receive | 6/15/2032 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | 411760 | (24288) | 387472 |
|  1 day TONAR Annual | 1.25 annually | Receive | 6/18/2032 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229000000 | (40184) | 40787 | 603 |
|  1 day SOFR Annual | 2.62 annually | Receive | 2/15/2048 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400000 | 202772 | 97476 | 300248 |
|  1 day SOFR Annual | 3.55 annually | Receive | 9/17/2035 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 |  | 1759 | 1759 |
|  1 day TONAR Annual | 1.25 annually | Receive | 6/18/2032 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31000000 | (5473) | 5555 | 82 |
|  1 day SOFR Annual | 3.50 annually | Receive | 6/20/2054 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | 6682 | 17157 | 23839 |
|  1 day SOFR Annual | 3.50 annually | Receive | 6/20/2054 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | 2777 | 5169 | 7946 |
|  1 day SOFR Annual | 3.50 annually | Receive | 12/18/2054 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | 16225 | 110001 | 126226 |
|  1 day SOFR Annual | 3.25 annually | Receive | 6/18/2055 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | 18776 | 6007 | 24783 |
|  1 day SOFR Annual | 3.50 annually | Receive | 6/20/2054 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | 10727 | 21058 | 31785 |
|  1 day SOFR Annual | 3.50 annually | Receive | 6/20/2054 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | 6027 | 9866 | 15893 |
|  1 day TONAR Annual | 1.25 annually | Receive | 6/18/2032 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229000000 | (39367) | 39970 | 603 |
|  1 day TONAR Annual | 1.25 annually | Receive | 6/18/2032 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31000000 | (5473) | 5555 | 82 |
|  1 day SOFR Annual | 3.50 annually | Receive | 6/20/2054 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | 38791 | 80404 | 119195 |
|  1 day SOFR At Termination | 3.50 at termination | Receive | 12/18/2025 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | 46 | 3368 | 3414 |
|  1 day SOFR At Termination | 3.50 at termination | Receive | 12/18/2025 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | 145 | 7536 | 7681 |

---

See Notes to Portfolio of Investments.

760

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Floating Rate Index<sup>(1)</sup>** | **Fixed Rate** | **Pay/ Receive<br>Floating Rate** | **Maturity<br>Date** | **Notional Amount** | **Notional Amount** | **Upfront**<br>**(Payments)**<br>**Receipts**<br>**($)** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)**<br>**($)** | **Value ($)** |
|  1 day SOFR Annual | 3.64 annually | Receive | 2/15/2055 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 |  | 11153 | 11153 |
|  1 day SOFR Annual | 3.65 annually | Receive | 2/15/2055 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 |  | 5341 | 5341 |
|  1 day REPO_CORRA Semi-Annual | 2.74 semi-annually | Receive | 6/1/2034 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 |  | 564 | 564 |
|  1 day TONAR Annual | 1.25 annually | Receive | 6/18/2032 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000000 | (3794) | 3847 | 53 |
|  1 day SOFR Annual | 3.81 annually | Receive | 2/15/2055 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 |  | 2627 | 2627 |
|  1 day ESTR Annual | 2.06 annually | Receive | 10/5/2029 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 |  | 1573 | 1573 |
|  1 day SOFR Annual | 3.50 annually | Receive | 6/20/2054 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | 7947 | 7946 | 15893 |
|  1 day SOFR Annual | 3.50 annually | Receive | 6/20/2054 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | 7875 | 8018 | 15893 |
|  1 day SOFR Annual | 3.50 annually | Receive | 6/20/2054 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | 4751 | 11142 | 15893 |
|  1 day SOFR Annual | 3.50 annually | Receive | 6/20/2054 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | 7071 | 16768 | 23839 |
|  1 day SOFR Annual | 1.75 annually | Receive | 12/21/2052 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5300000 | 1611161 | 458582 | 2069743 |
|  1 day ESTR Annual | 2.05 annually | Receive | 10/5/2029 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 |  | 1119 | 1119 |
|  1 day SOFR Annual | 2.00 annually | Receive | 12/21/2032 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | 107438 | (4238) | 103200 |
|  |  |  |  |  |  | 2398330 | 1101823 | 3500153 |
|  6 month EURIBOR Semi-Annual | 2.35 annually | Receive | 4/29/2030 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 |  | (72) | (72) |
|  6 month EURIBOR Semi-Annual | 3.00 annually | Receive | 3/18/2056 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679000 | (11534) | (1308) | (12842) |
|  6 month BBR Semi- Annual | 4.00 semi-annually | Pay | 3/19/2035 | AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | (883) | (10743) | (11626) |
|  6 month EURIBOR Semi-Annual | 3.00 annually | Receive | 3/18/2056 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | (11510) | (3620) | (15130) |
|  6 month EURIBOR Semi-Annual | 1.00 annually | Pay | 5/18/2027 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200000 | (59505) | 1239 | (58266) |
|  6 month EURIBOR Semi-Annual | 3.00 annually | Receive | 3/18/2056 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | (11173) | (3957) | (15130) |
|  6 month EURIBOR Semi-Annual | 3.00 annually | Receive | 3/18/2056 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | (15) | (4) | (19) |
|  1 day CDI At Termination | 14.01 at termination | Pay | 1/4/2027 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483738 |  | (289) | (289) |
|  1 day CDI At Termination | 13.32 at termination | Pay | 1/2/2029 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317531 |  | (19) | (19) |
|  1 day CDI At Termination | 11.41 at termination | Pay | 1/4/2027 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12015295 |  | (114488) | (114488) |
|  1 day CDI At Termination | 13.29 at termination | Pay | 1/2/2029 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2542573 |  | (629) | (629) |
|  1 day CDI At Termination | 13.93 at termination | Pay | 1/4/2027 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6128216 |  | (5173) | (5173) |
|  1 day CDI At Termination | 13.93 at termination | Pay | 1/4/2027 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1370785 | 66 | (1223) | (1157) |
|  1 day CDI At Termination | 13.29 at termination | Pay | 1/2/2029 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;699208 | (53) | (120) | (173) |
|  1 day CDI At Termination | 13.93 at termination | Pay | 1/4/2027 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806363 |  | (684) | (684) |
|  1 day SOFR Annual | 3.91 annually | Receive | 3/4/2035 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 |  | (3947) | (3947) |
|  1 day SONIA Annual | 3.75 annually | Pay | 9/17/2030 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | (1982) | (196) | (2178) |
|  1 day REPO_CORRA Semi-Annual | 3.50 semi-annually | Receive | 6/1/2032 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | (4253) | (5562) | (9815) |
|  1 day SOFR Annual | 3.67 annually | Receive | 5/31/2028 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 |  | (8487) | (8487) |
|  1 day SOFR Annual | 3.93 annually | Receive | 3/24/2035 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 |  | (4361) | (4361) |
|  1 day REPO_CORRA Semi-Annual | 3.50 semi-annually | Receive | 6/1/2032 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700000 | (31425) | (35315) | (66740) |
|  1 day REPO_CORRA Semi-Annual | 3.50 semi-annually | Receive | 6/1/2032 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | (6612) | (5166) | (11778) |
|  1 day SOFR Annual | 3.70 annually | Receive | 5/15/2035 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248000 | (4254) | 2695 | (1559) |
|  1 day SOFR Annual | 3.70 annually | Receive | 5/15/2035 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139000 | (2533) | 1659 | (874) |
|  1 day REPO_CORRA Semi-Annual | 3.50 semi-annually | Receive | 6/1/2032 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | (7398) | (10268) | (17666) |

---

See Notes to Portfolio of Investments.

761

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Floating Rate Index<sup>(1)</sup>** | **Fixed Rate** | **Pay/ Receive<br>Floating Rate** | **Maturity<br>Date** | **Notional Amount** | **Notional Amount** | **Upfront**<br>**(Payments)**<br>**Receipts**<br>**($)** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)**<br>**($)** | **Value ($)** |
|  1 day SOFR Annual | 3.75 annually | Receive | 5/15/2032 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191000 | 359 | (3489) | (3130) |
|  1 day SOFR Annual | 3.70 annually | Receive | 5/15/2035 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271000 | (1461) | (242) | (1703) |
|  1 day SOFR Annual | 3.70 annually | Receive | 5/15/2035 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248000 | (4331) | 2773 | (1558) |
|  1 day SOFR Annual | 4.10 annually | Receive | 2/18/2035 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 |  | (25008) | (25008) |
|  1 day REPO_CORRA Semi-Annual | 3.00 semi-annually | Receive | 6/1/2033 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | 694 | (3589) | (2895) |
|  1 day REPO_CORRA Semi-Annual | 3.00 semi-annually | Receive | 6/1/2033 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | 312 | (1760) | (1448) |
|  1 day SOFR Annual | 3.75 annually | Receive | 5/15/2032 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181000 | 368 | (3334) | (2966) |
|  1 day SOFR Annual | 3.93 annually | Receive | 3/24/2035 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 |  | (4361) | (4361) |
|  1 day SOFR Annual | 3.75 annually | Receive | 5/15/2032 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | (607) | (1359) | (1966) |
|  1 day SOFR Annual | 3.75 annually | Receive | 5/15/2032 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | (623) | (1343) | (1966) |
|  1 day SOFR Annual | 3.75 annually | Receive | 5/15/2032 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181000 | 656 | (3622) | (2966) |
|  1 day SOFR Annual | 3.75 annually | Receive | 8/15/2033 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 |  | (9814) | (9814) |
|  1 day SOFR Annual | 3.75 annually | Receive | 8/15/2033 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 |  | (11148) | (11148) |
|  1 day SOFR Annual | 3.72 annually | Receive | 8/15/2033 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300000 |  | (14838) | (14838) |
|  1 day SOFR Annual | 3.91 annually | Receive | 3/12/2035 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 |  | (3919) | (3919) |
|  1 day SOFR Annual | 3.73 annually | Receive | 10/31/2030 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 |  | (2790) | (2790) |
|  1 day SOFR Annual | 3.75 annually | Receive | 5/15/2032 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | (40) | (1926) | (1966) |
|  1 day SOFR Annual | 3.72 annually | Receive | 10/31/2030 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 |  | (1750) | (1750) |
|  1 day SOFR Annual | 3.75 annually | Receive | 5/15/2032 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | (178) | (1788) | (1966) |
|  1 day SOFR Annual | 3.75 annually | Receive | 5/15/2032 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | (657) | (1309) | (1966) |
|  1 day SOFR Annual | 3.75 annually | Receive | 5/15/2032 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | (380) | (1586) | (1966) |
|  1 day SOFR Annual | 3.75 annually | Receive | 5/15/2032 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | (122) | (2172) | (2294) |
|  1 day SOFR Annual | 3.74 annually | Receive | 8/15/2033 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630000 |  | (8431) | (8431) |
|  1 day SOFR Annual | 3.74 annually | Receive | 10/31/2030 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 |  | (4857) | (4857) |
|  1 day SOFR Annual | 3.70 annually | Receive | 5/15/2035 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227000 | (297) | (1130) | (1427) |
|  1 day SONIA Annual | 3.75 annually | Pay | 9/17/2030 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | (1981) | (197) | (2178) |
|  1 day REPO_CORRA Semi-Annual | 3.00 semi-annually | Receive | 6/1/2034 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | 196 | (1415) | (1219) |
|  1 day REPO_CORRA Semi-Annual | 3.00 semi-annually | Receive | 6/1/2034 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | (197) | (2241) | (2438) |
|  1 day REPO_CORRA Semi-Annual | 3.00 semi-annually | Receive | 6/1/2034 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | 101 | (1320) | (1219) |
|  1 day REPO_CORRA Semi-Annual | 3.00 semi-annually | Receive | 6/1/2034 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | (9) | (1210) | (1219) |
|  1 day SOFR Annual | 3.81 annually | Receive | 5/31/2028 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 |  | (14560) | (14560) |
|  1 day SOFR Annual | 3.75 annually | Receive | 6/20/2034 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6400000 | 218955 | (285933) | (66978) |
|  1 day SOFR Annual | 3.73 annually | Receive | 10/31/2030 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 |  | (3611) | (3611) |
|  |  |  |  |  |  | 57694 | (633317) | (575623) |
|  Total Centrally Cleared Interest rate swap contracts outstanding | Total Centrally Cleared Interest rate swap contracts outstanding | Total Centrally Cleared Interest rate swap contracts outstanding | Total Centrally Cleared Interest rate swap contracts outstanding |  |  | 2456024 | 468506 | 2924530 |

---

(1) Value of floating rate index at September 30, 2025 was as follows:

---

| | |
|:---|:---|
| **Floating Rate Index** | **Value** |
|  1 day CDI BRL | 2.17% |
|  1 day ESTR EUR | 1.92% |
|  1 day REPO_CORRA CAD | 1.15% |
|  1 day SOFR USD | 4.24% |
|  1 day SONIA GBP | 3.97% |
|  1 day TONAR JPY | 0.47% |
|  6 month BBR AUD | 3.75% |
|  6 month EURIBOR EUR | 2.10% |

---

See Notes to Portfolio of Investments.

762

------

**EQ ADVISORS TRUST** 

EQ/PIMCO TOTAL RETURN ESG PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Asset-Backed Securities** | $— | $29081022 | $— | $29081022 |
|  **Centrally Cleared Credit Default Swaps** |  | 10158 |  | 10158 |
|  **Centrally Cleared Interest Rate Swaps** |  | 1138715 |  | 1138715 |
|  **Collateralized Mortgage Obligations** |  | 9216985 |  | 9216985 |
|  **Commercial Mortgage-Backed Securities** |  | 14739707 |  | 14739707 |
|  **Corporate Bonds** |  |  |  |  |
|  Communication Services |  | 944793 |  | 944793 |
|  Consumer Discretionary |  | 5528555 |  | 5528555 |
|  Consumer Staples |  | 1469571 |  | 1469571 |
|  Energy |  | 880357 |  | 880357 |
|  Financials |  | 28968146 |  | 28968146 |
|  Health Care |  | 597378 |  | 597378 |
|  Industrials |  | 1334369 |  | 1334369 |
|  Information Technology |  | 3161231 |  | 3161231 |
|  Materials |  | 1029028 |  | 1029028 |
|  Real Estate |  | 10362635 |  | 10362635 |
|  Utilities |  | 17808987 |  | 17808987 |
|  **Foreign Government Securities** |  | 13554231 |  | 13554231 |
|  **Forward Currency Contracts** |  | 188254 |  | 188254 |
|  **Futures** | 210416 |  |  | 210416 |
|  **Mortgage-Backed Securities** |  | 110485233 |  | 110485233 |
|  **Municipal Bonds** |  | 2696030 |  | 2696030 |
|  **Options Purchased** |  |  |  |  |
|  Call Options Purchased |  | 248 |  | 248 |
|  Put Options Purchased |  | 3335 |  | 3335 |
|  **OTC Credit Default Swaps** |  | 54727 |  | 54727 |
|  **Short-Term Investments** |  |  |  |  |
|  Commercial Paper |  | 2979074 |  | 2979074 |
|  Foreign Government Treasury Bills |  | 315855 |  | 315855 |
|  U.S. Treasury Obligations |  | 10844125 |  | 10844125 |
|  **Supranational** |  | 1882590 |  | 1882590 |
|  **U.S. Treasury Obligations** |  | 46783732 |  | 46783732 |
|  **Total Assets** | $**210416** | $**316059071** | $**—** | $**316269487** |
|  **Liabilities:** |  |  |  |  |
|  **Centrally Cleared Interest Rate Swaps** | $— | $(670209) | $— | $(670209) |
|  **Forward Currency Contracts** |  | (183707) |  | (183707) |
|  **Futures** | (56082) |  |  | (56082) |
|  **OTC Credit Default Swaps** |  | (6103) |  | (6103) |
|  **Swaptions Written** |  | (9745) |  | (9745) |
|  **Total Liabilities** | $**(56082)** | $**(869764)** | $**—** | $**(925846)** |
|  **Total** | $**154334** | $**315189307** | $**—** | $**315343641** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $5030924 |
|  Aggregate gross unrealized depreciation | (24352124) |
|  Net unrealized depreciation | $(19321200) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $337425942 |

---

See Notes to Portfolio of Investments.

763

------

**EQ ADVISORS TRUST** 

EQ/PIMCO ULTRA SHORT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Asset-Backed Securities (23.8%)** |  |  |
|  522 Funding CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-6A A1R2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.519%, 10/23/34(l)§ | $1800000 | $1802250 |
|  Allegro CLO XI Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A A1AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.575%, 1/19/33(l)§ | 2593633 | 2595555 |
|  Anchorage Capital CLO 21 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-21A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 10/20/34(l)§ | 1200000 | 1200556 |
|  Apidos CLO XXXV, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-35A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.637%, 4/20/34(l)§ | 500000 | 500451 |
|  Ares LIX CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-59A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.610%, 4/25/34(l)§ | 3200000 | 3202653 |
|  Ares XXVII CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-2A AR3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.464%, 10/28/34(l)§ | 3200000 | 3200000 |
|  ARI Fleet Lease Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-B A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.540%, 4/15/33§ | 931845 | 939755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.590%, 3/15/34§ | 1000000 | 1006988 |
|  Atlas Senior Loan Fund XVII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-17A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.385%, 10/20/34(l)§ | 350000 | 348478 |
|  Bain Capital Credit CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-3A ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.355%, 10/21/34(l)§ | 500000 | 500400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2A ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.565%, 7/19/34(l)§ | 3200000 | 3203174 |
|  BofA Auto Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.939%, 11/22/27(l)§ | 2852735 | 2854816 |
|  Capital One Prime Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.820%, 6/15/28 | 1942184 | 1967702 |
|  Carlyle Global Market Strategies CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-4A A1RR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.545%, 7/20/32(l)§ | 1548096 | 1548096 |
|  CarMax Auto Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.490%, 2/16/27 | 261407 | 261274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 3/15/27 | 60352 | 60383 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 5/17/27 | 383931 | 384583 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.590%, 7/17/28 | 6000000 | 6026341 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3 A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.742%, 8/15/28(l) | 2000000 | 2000222 |
|  CarVal CLO I Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.548%, 7/16/31(l)§ | 2724785 | 2726981 |
|  CarVal CLO III Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A AR2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.315%, 7/20/32(l)§ | 2308955 | 2309703 |
|  Carvana Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-P1 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/10/27§ | 7385 | 7387 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-P4 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.620%, 2/10/28 | 733543 | 734221 |
|  Chase Auto Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 7/25/28§ | 3000000 | 3011532 |
|  Chesapeake Funding II LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.142%, 5/15/36(l)§ | 1173685 | 1173679 |
|  Citibank Credit Card Issuance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-A6 A6 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.035%, 5/14/29(l) | 4000000 | 4035962 |
|  Citigroup Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-AMC2 A3A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.432%, 1/25/37(l) | 27732 | 20168 |
|  Citizens Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.840%, 1/18/28§ | 773078 | 778692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2 A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.912%, 11/16/26(l)§ | 116778 | 116796 |
|  CQS US CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.525%, 1/20/35(l)§ | 1000000 | 1000627 |
|  Dllad LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/20/27§ | 1052222 | 1057624 |
|  Elevation CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-3A A1R2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.618%, 1/25/35(l)§ | 3000000 | 2997081 |
|  Enterprise Fleet Financing LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.310%, 4/20/27§ | 303295 | 304956 |
|  FirstKey Homes Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-SFR2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.266%, 10/19/37§ | 4440191 | 4419726 |
|  Ford Credit Auto Lease Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.782%, 8/15/27(l) | 2720519 | 2721997 |
|  Ford Credit Auto Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-B A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 4/15/27 | 2778366 | 2785552 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-C A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.320%, 8/15/27 | 3689041 | 3691734 |
|  GM Financial Automobile Leasing Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.290%, 1/20/27 | 1965717 | 1966502 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 7/20/27 | 3000000 | 3010202 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3 A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.739%, 10/20/27(l) | 1200000 | 1199996 |
|  GM Financial Consumer Automobile Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-4 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.880%, 8/16/28 | 1000000 | 1006719 |

---

See Notes to Portfolio of Investments.

764

------

**EQ ADVISORS TRUST** 

EQ/PIMCO ULTRA SHORT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.530%, 10/18/27 | $1603245 | $1604998 |
|  GMF Floorplan Owner Revolving Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.340%, 6/15/28§ | 4000000 | 4034168 |
|  GSAA Home Equity Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-6 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.872%, 5/25/47(l) | 66313 | 43546 |
|  Hertz Vehicle Financing III LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.490%, 6/25/27§ | 2900000 | 2916868 |
|  Hyundai Auto Lease Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.772%, 6/15/27(l)§ | 3567199 | 3568244 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-C A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.762%, 1/18/28(l)§ | 4000000 | 4001586 |
|  Hyundai Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-C A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.772%, 9/15/27(l) | 1870197 | 1871202 |
|  Jamestown CLO XVI Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-16A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.438%, 7/25/34(l)§ | 1400000 | 1401651 |
|  Jamestown CLO XVIII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-18A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.588%, 7/25/35(l)§ | 3200000 | 3197683 |
|  KKR CLO 41 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-41A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.648%, 4/15/35(l)§ | 1800000 | 1801724 |
|  LCM 31 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 31A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.605%, 7/20/34(l)§ | 1600000 | 1599946 |
|  M&T Bank Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.872%, 5/15/28(l)§ | 1297833 | 1299129 |
|  Madison Park Funding XLVI Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-46A ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.318%, 10/15/34(l)§ | 700000 | 700560 |
|  Massachusetts Educational Financing Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2008-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.552%, 4/25/38(l) | 26325 | 25966 |
|  Master Credit Card Trust II, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.131%, 1/21/28(l)§ | 5000000 | 5007888 |
|  Mercedes-Benz Auto Lease Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-B A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.570%, 12/15/26 | 1266255 | 1267442 |
|  Navient Private Education Refi Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-DA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.690%, 5/15/69§ | 609116 | 578057 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-GA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.170%, 9/16/69§ | 501904 | 468530 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-IA A1B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.265%, 4/15/69(l)§ | 1974420 | 1964017 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.110%, 2/18/70§ | 5977379 | 5338333 |
|  Navient Student Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-5A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.271%, 7/26/66(l)§ | 1594040 | 1597036 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-BA A1B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.072%, 3/15/72(l)§ | 752806 | 759169 |
|  Nelnet Student Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-3 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.759%, 12/24/35(l) | 672161 | 666400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-5A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.101%, 1/25/37(l)§ | 449255 | 440099 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.271%, 9/25/65(l)§ | 1916801 | 1919847 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.371%, 6/27/67(l)§ | 439397 | 440602 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CA A1B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.706%, 6/22/65(l)§ | 900000 | 899993 |
|  Northwoods Capital XII-B Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-12BA AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.228%, 6/15/31(l)§ | 2142078 | 2139894 |
|  Pagaya AI Debt Grantor Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-6 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.248%, 9/15/26§ | 7500000 | 7500053 |
|  PenFed Auto Receivables Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.030%, 7/15/30§ | 400000 | 399638 |
|  PHEAA Student Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.421%, 11/25/65(l)§ | 763741 | 763741 |
|  Porsche Innovative Lease Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.470%, 12/21/26§ | 752444 | 753022 |
|  Regatta XVI Funding Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.518%, 1/15/33(l)§ | 3714362 | 3720806 |
|  Romark CLO V Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-5A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.476%, 1/15/35(l)§ | 3900000 | 3905394 |
|  SBA Tower Trust (REIT), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.831%, 10/15/29§ | 1500000 | 1490743 |
|  SBNA Auto Lease Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-C A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.940%, 11/20/26§ | 344830 | 345007 |
|  Sculptor CLO XXVII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 27A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.385%, 7/20/34(l)§ | 2300000 | 2300460 |
|  SFS Auto Receivables Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.470%, 10/20/28§ | 424332 | 427467 |
|  Silver Rock CLO II Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.365%, 1/20/35(l)§ | 1100000 | 1098932 |
|  SLM Student Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2010-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.871%, 3/25/25(h)(l) | 925060 | 899670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2012-3 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.121%, 12/27/38(l) | 2803837 | 2789822 |
|  SMB Private Education Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-PTA A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.600%, 9/15/54§ | 630381 | 592743 |

---

See Notes to Portfolio of Investments.

765

------

**EQ ADVISORS TRUST** 

EQ/PIMCO ULTRA SHORT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  SoFi Consumer Loan Program Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.470%, 8/15/34§ | $1000000 | $1002606 |
|  Stellantis Financial Underwritten Enhanced Lease Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-BA A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.310%, 5/22/28§ | 4000000 | 4015231 |
|  Symphony CLO XXII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-22A A1AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.509%, 4/18/33(l)§ | 754568 | 754581 |
|  Synchrony Card Issuance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.780%, 2/15/31 | 1500000 | 1526562 |
|  Tesla Sustainable Energy Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.080%, 6/21/50§ | 1304754 | 1314155 |
|  THL Credit Wind River CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-3A AR2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.488%, 4/15/35(l)§ | 4000000 | 4003696 |
|  Toyota Auto Receivables Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-D A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.762%, 8/16/27(l) | 1329318 | 1329884 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.912%, 3/15/28(l) | 4000000 | 4006069 |
|  Toyota Lease Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.799%, 7/20/27(l)§ | 6458083 | 6460872 |
|  Trinitas CLO XVII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-17A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.310%, 10/20/34(l)§ | 3500000 | 3501291 |
|  Trinitas CLO XX Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-20A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.365%, 7/20/35(l)§ | 1200000 | 1200838 |
|  TSTAT Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A A1RR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.475%, 7/20/37(l)§ | 318587 | 318617 |
|  United States Small Business Administration, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2008-20G 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.870%, 7/1/28 | 152315 | 155174 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2008-20H 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.020%, 8/1/28 | 118010 | 121020 |
|  Verdelite Static CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.455%, 7/20/32(l)§ | 1663569 | 1662788 |
|  Verizon Master Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-6 A1B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.059%, 8/20/30(l) | 4000000 | 4019690 |
|  Volkswagen Auto Loan Enhanced Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.720%, 3/22/27 | 66776 | 66865 |
|  Voya CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.525%, 7/20/32(l)§ | 3396124 | 3398573 |
|  Wind River CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-1KRA |  |  |
|  A1R3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.378%, 10/15/34(l)§ | 298390 | 298479 |
|  World Omni Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-C A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.780%, 1/18/28 | 324391 | 324897 |
|  World Omni Automobile Lease Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.802%, 2/16/27(l) | 554693 | 554900 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Asset-Backed Securities** |  | 193260378 |
|  **Collateralized Mortgage Obligations (18.7%)** |  |  |
|  Alternative Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-61 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.832%, 12/25/35(l) | 4400 | 4132 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-62 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.153%, 12/25/35(l) | 17487 | 15032 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA22 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.592%, 2/25/47(l) | 82862 | 81601 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OA7 A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.632%, 5/25/47(l) | 19456 | 18037 |
|  American Home Mortgage Assets Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-1 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.462%, 5/25/46(l) | 996459 | 882270 |
|  Arroyo Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1R A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.175%, 10/25/48(l)§ | 389057 | 352015 |
|  BCAP LLC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AA2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.612%, 1/25/37(l) | 112277 | 104816 |
|  Bear Stearns ALT-A Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-7 22A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.838%, 9/25/35(l) | 259553 | 141293 |
|  Bear Stearns ARM Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-3 3A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.643%, 5/25/33(l) | 4949 | 4745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-8 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.923%, 1/25/34(l) | 459 | 440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-8 4A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.513%, 1/25/34(l) | 1839 | 1839 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-10 15A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.582%, 1/25/35(l) | 6351 | 6317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-10 21A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.824%, 1/25/35(l) | 123198 | 119762 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-3 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.208%, 5/25/47(l) | 468069 | 420713 |
|  CHL Mortgage Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-25 A11 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/25/35 | 53455 | 24355 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-3 1A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.852%, 4/25/35(l) | 30557 | 29225 |
|  Citigroup Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-11 A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.490%, 5/25/35(l) | 571 | 577 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-11 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.480%, 10/25/35(l) | 20689 | 21563 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-12 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.072%, 8/25/35(l)§ | 24444 | 23784 |
|  Citigroup Mortgage Loan Trust, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 9/25/35(l) | 1164 | 1178 |

---

See Notes to Portfolio of Investments.

766

------

**EQ ADVISORS TRUST** 

EQ/PIMCO ULTRA SHORT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-6 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.190%, 9/25/35(l) | $2559 | $2543 |
|  Credit Suisse First Boston Mortgage Securities Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2002-P1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.063%, 3/25/32(l)§ | 167 | 161 |
|  Deutsche Alt-B Securities Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AB4 A1B1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.372%, 10/25/36(l) | 336 | 280 |
|  FHLMC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2142 Z |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 4/15/29 | 500 | 504 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2411 FJ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.837%, 12/15/29(l) | 148 | 147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 3222 FN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.887%, 9/15/36(l) | 5260 | 5220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 3241 FM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.867%, 11/15/36(l) | 3115 | 3089 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 3245 NF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.967%, 11/15/36(l) | 100698 | 100037 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 330 F4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 10/15/37 STRIPS(l) | 1138728 | 1125184 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 343 F4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 10/15/37 STRIPS(l) | 340641 | 336181 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 3807 FM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.987%, 2/15/41(l) | 120087 | 119446 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 3850 FC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.907%, 4/15/41(l) | 103017 | 102216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 3898 TF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.987%, 7/15/39(l) | 9200 | 9121 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 3927 FH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.937%, 9/15/41(l) | 119421 | 118409 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 413 F25 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.506%, 5/25/54(l) | 3939968 | 3954872 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4283 JF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.887%, 12/15/43(l) | 980077 | 968851 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4367 GF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 3/15/37(l) | 816897 | 806834 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4615 AF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 10/15/38(l) | 279291 | 275563 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4678 AF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.860%, 12/15/42(l) | 1283951 | 1272406 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4774 BF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.787%, 2/15/48(l) | 1440175 | 1394052 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4779 WF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 7/15/44(l) | 1243856 | 1223071 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4875 F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.937%, 4/15/49(l) | 858139 | 836551 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4906 WF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.860%, 12/15/38(l) | 617218 | 609338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4913 FC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.880%, 6/15/44(l) | 1015105 | 1003047 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4948 E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/25/48 | 345580 | 318624 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5115 EM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 9/15/44 | 4223782 | 3764522 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5484 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.556%, 12/25/54(l) | 1794134 | 1802810 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5493 FK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.506%, 1/25/55(l) | 2387698 | 2396415 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5513 MF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.296%, 11/25/54(l) | 15299491 | 15319933 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5517 VF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, 3/25/55(l) | 5259877 | 5279814 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5528 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.226%, 4/25/55(l) | 5701201 | 5703300 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5548 AF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, 6/25/55(l) | 3345442 | 3363298 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5549 CF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, 10/25/52(l) | 3744021 | 3664079 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5549 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.606%, 6/25/55(l) | 5234338 | 5269138 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5557 FM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, 7/25/55(l) | 773918 | 775578 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5560 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, 6/25/55(l) | 769962 | 774071 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5564 PF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.556%, 8/25/55(l) | 1589681 | 1597606 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5565 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.506%, 8/25/55(l) | 1176293 | 1180343 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5565 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, 8/25/55(l) | 595437 | 595450 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5580 FP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, 9/25/55(l) | 498916 | 500935 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5584 DF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/25/55(l) | 500000 | 500497 |
|  FHLMC Structured Pass-Through Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series T-57 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 7/25/43 | 1661 | 1727 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series T-62 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.353%, 10/25/44(l) | 80783 | 74154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series T-63 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.353%, 2/25/45(l) | 104642 | 101491 |
|  First Horizon Alternative Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AA1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.856%, 6/25/34(l) | 11090 | 11093 |
|  First Horizon Mortgage Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR3 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.002%, 8/25/35(l) | 16910 | 11294 |
|  FNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-W8 3F2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.821%, 5/25/42(l) | 5110 | 5095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-38 F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.771%, 5/25/35(l) | 7783 | 7722 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-118 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.523%, 12/25/36(l) | 33228 | 32654 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-5 3A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.373%, 5/25/35(l) | 11381 | 11638 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-109 GF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.151%, 12/25/37(l) | 252879 | 252960 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-84 FN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.971%, 8/25/37(l) | 95371 | 94900 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2010-74 AF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.011%, 7/25/37(l) | 75422 | 75205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-42 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.860%, 7/25/44(l) | 307923 | 302618 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-86 PA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/25/44 | 148158 | 131763 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-64 KF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 9/25/45(l) | 954436 | 938835 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-11 AF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.960%, 3/25/46(l) | 1030374 | 1024908 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-84 DF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.880%, 11/25/46(l) | 286640 | 281240 |

---

See Notes to Portfolio of Investments.

767

------

**EQ ADVISORS TRUST** 

EQ/PIMCO ULTRA SHORT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-97 CF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.880%, 12/25/56(l) | $671107 | $658395 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-108 AF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.771%, 1/25/48(l) | 655421 | 645353 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-41 FD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.971%, 8/25/59(l) | 635991 | 624169 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-53 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.860%, 9/25/49(l) | 1188891 | 1162945 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-60 WF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.860%, 10/25/59(l) | 590598 | 585134 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-9 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.860%, 3/25/49(l) | 210556 | 208908 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-22 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.871%, 4/25/50(l) | 2775811 | 2689025 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-103 FC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.506%, 1/25/55(l) | 3683007 | 3696867 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-38 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.145%, 1/25/51(l) | 2884218 | 2889245 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-90 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.606%, 11/25/53(l) | 2645835 | 2660722 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-95 KF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, 12/25/54(l) | 1422052 | 1421593 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-12 EF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.266%, 3/25/55(l) | 468902 | 468666 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-12 FG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, 3/25/55(l) | 727185 | 729889 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-16 FM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, 1/25/55(l) | 455455 | 456487 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-18 FM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.256%, 9/25/54(l) | 7495688 | 7503278 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.556%, 12/25/53(l) | 916989 | 921456 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-40 FP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, 10/25/54(l) | 2332937 | 2345406 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-54 FM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, 7/25/55(l) | 475047 | 476056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-6 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.606%, 2/25/55(l) | 854413 | 859592 |
|  GCAT Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NQM3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.091%, 5/25/66(l)§ | 994482 | 863953 |
|  GNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2012-H08 FC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.036%, 4/20/62(l) | 183069 | 183263 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2012-H12 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.016%, 4/20/62(l) | 222228 | 222424 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2012-H12 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.516%, 2/20/62(l) | 253827 | 255606 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-H13 FT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/20/63(l) | 67658 | 67495 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H04 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.116%, 12/20/64(l) | 453387 | 453630 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H32 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.216%, 12/20/65(l) | 999441 | 1001103 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H14 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.266%, 6/20/66(l) | 539488 | 540774 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H17 FK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.316%, 7/20/66(l) | 171409 | 171951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H20 PT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.183%, 9/20/66(l) | 823081 | 841661 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-H07 FG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.926%, 2/20/67(l) | 1118461 | 1117938 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-H08 FM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.174%, 3/20/67(l) | 3501731 | 3526700 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-H18 FC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.816%, 8/20/65(l) | 255235 | 254692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-54 KF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.815%, 5/20/44(l) | 957837 | 939351 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-90 F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 7/20/49(l) | 1128823 | 1099865 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-17 EU |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/20/49 | 185994 | 166436 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-63 PF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 4/20/50(l) | 4072075 | 3944298 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-122 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/20/51(l) | 9655954 | 8383288 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-H09 FG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.889%, 6/20/71(l) | 1240568 | 1268258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H26 DF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.689%, 9/20/73(l) | 2899434 | 2884577 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-13 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.339%, 1/20/54(l) | 133374 | 133957 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-100 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.539%, 6/20/55(l) | 494822 | 496597 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-118 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.539%, 7/20/55(l) | 496360 | 497877 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-89 PF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.339%, 5/20/55(l) | 493919 | 496169 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-98 GF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.289%, 6/20/55(l) | 2577016 | 2584804 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-H20 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.961%, 9/20/75(l)(r) | 300000 | 299813 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-H22 F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.922%, 10/20/75(l)(r) | 300000 | 300000 |
|  GreenPoint Mortgage Funding Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR5 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.812%, 11/25/45(l) | 5574 | 5290 |
|  GS Mortgage-Backed Securities Corp. Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-RPL1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 12/25/60(l)§ | 3220978 | 3026122 |
|  GS Mortgage-Backed Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-GR2 A9 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/25/52(l)§ | 1811374 | 1678905 |
|  GSR Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR6 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.191%, 9/25/35(l) | 5139 | 4949 |
|  HarborView Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2 2A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.688%, 5/19/35(l) | 3776 | 3646 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-1 2A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.728%, 3/19/36(l) | 31477 | 29100 |
|  IndyMac INDX Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR11 2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.580%, 12/25/34(l) | 16389 | 15469 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR14 1A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.346%, 11/25/46(l)(r) | 1803 |  |
|  JP Morgan Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-12 A11 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/25/52(l)§ | 700326 | 649149 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-9 A11 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.706%, 2/25/55(l)§ | 1415536 | 1418390 |
|  MASTR Adjustable Rate Mortgages Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-13 3A7 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.578%, 11/21/34(l) | 5541 | 5319 |

---

See Notes to Portfolio of Investments.

768

------

**EQ ADVISORS TRUST** 

EQ/PIMCO ULTRA SHORT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  MASTR Alternative Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-5 6A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/25/33 | $103126 | $104710 |
|  Mellon Residential Funding Corp. Mortgage Pass-Through Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2001-TBC1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.965%, 11/15/31(l) | 2018 | 1960 |
|  Merrill Lynch Mortgage Investors Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-3 5A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.772%, 11/25/35(l) | 7227 | 6938 |
|  MFA Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-NQM2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.381%, 4/25/65(l)§ | 320706 | 313766 |
|  MRFC Mortgage Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2000-TBC3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.705%, 12/15/30(l) | 655 | 638 |
|  New Residential Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NQ2R A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.941%, 10/25/58(l)§ | 632761 | 605257 |
|  OBX Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-NQM5 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.988%, 1/25/64(e)§ | 887672 | 896571 |
|  RALI Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-QO1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.572%, 8/25/35(l) | 6864 | 4765 |
|  Reperforming Loan REMIC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-R2 1AF1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.612%, 6/25/35(l)§ | 4399 | 4249 |
|  Sequoia Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 10 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.010%, 10/20/27(l) | 123 | 121 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-4 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 7/20/33(l) | 132400 | 132112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.978%, 3/20/35(l) | 76609 | 71669 |
|  Starwood Mortgage Residential Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.486%, 4/25/65(l)§ | 165428 | 161332 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.943%, 5/25/65(l)§ | 1554148 | 1466430 |
|  Structured Adjustable Rate Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-1 4A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.336%, 2/25/34(l) | 5232 | 5062 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-19 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.553%, 1/25/35(l) | 6157 | 5659 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-17 3A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.529%, 8/25/35(l) | 16992 | 14723 |
|  Structured Asset Mortgage Investments II Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR5 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.908%, 10/19/34(l) | 5156 | 4965 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR5 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.748%, 7/19/35(l) | 15863 | 15272 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR5 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.748%, 7/19/35(l) | 6854 | 6817 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR4 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.652%, 6/25/36(l) | 2695 | 2664 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR5 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.692%, 5/25/36(l) | 251030 | 176538 |
|  Towd Point Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 5/25/58(l)§ | 565179 | 555856 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-HY2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.272%, 5/25/58(l)§ | 294543 | 301000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-HY3 A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.272%, 10/25/59(l)§ | 306736 | 306982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.710%, 1/25/60(l)§ | 1223801 | 1181376 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SJ2 A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 12/25/61(l)§ | 292241 | 284476 |
|  Verus Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 12/25/67(e)§ | 256155 | 255942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-5 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.476%, 6/25/68(e)§ | 489347 | 492624 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.712%, 1/25/69(e)§ | 1003569 | 1010205 |
|  WaMu Mortgage Pass-Through Certificates Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2002-AR17 1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.353%, 11/25/42(l) | 718 | 691 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2002-AR2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.198%, 2/27/34(l) | 335 | 325 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-AR1 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.781%, 3/25/33(l) | 65536 | 64488 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-AR1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.187%, 3/25/34(l) | 91702 | 92549 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR13 A1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.852%, 10/25/45(l) | 14945 | 14785 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR15 A1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.792%, 11/25/45(l) | 6469 | 6254 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR15 2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.653%, 11/25/46(l) | 8621 | 7702 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR3 A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.153%, 2/25/46(l) | 10622 | 9755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR7 3A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.201%, 7/25/46(l) | 39993 | 36490 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** |  | 152146250 |
|  **Commercial Mortgage-Backed Securities (1.7%)** |  |  |
|  Beast Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1818 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.315%, 3/15/36(l)§ | 2500000 | 2101341 |
|  BWAY Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1450 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.515%, 9/15/36(l)§ | 2500000 | 2442946 |
|  CFCRE Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C8 ASB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.367%, 6/15/50 | 876453 | 871232 |
|  Citigroup Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C2 AAB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.710%, 8/10/49 | 385472 | 384380 |
|  CSMC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-CHOP A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.194%, 7/15/32(l)§ | 745396 | 743851 |
|  Extended Stay America Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ESH A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.344%, 7/15/38(l)§ | 5902932 | 5902934 |

---

See Notes to Portfolio of Investments.

769

------

**EQ ADVISORS TRUST** 

EQ/PIMCO ULTRA SHORT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  JP Morgan Chase Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-FL12 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.648%, 12/15/31(l)§ | $275649 | $257779 |
|  Morgan Stanley Bank of America Merrill Lynch Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C33 ASB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.401%, 5/15/50 | 976430 | 971621 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Mortgage-Backed Securities** |  | 13676084 |
|  **Corporate Bonds (44.0%)** |  |  |
|  **Communication Services (0.7%)** |  |  |
|  ***Media (0.3%)*** |  |  |
|  Cox Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 9/15/26§ | 2200000 | 2183707 |
|  ***Wireless Telecommunication Services (0.4%)*** |  |  |
|  Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 12/15/25 | 3763000 | 3756015 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 5939722 |
|  **Consumer Discretionary (4.4%)** |  |  |
|  ***Automobiles (3.0%)*** |  |  |
|  BMW US Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.78%), 4.945%, 3/19/27(k)§ | 3100000 | 3112006 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.92%), 5.084%, 3/21/28(k)§ | 800000 | 803500 |
|  Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.32%), 5.509%, 11/3/25(k)§ | 1978000 | 1979583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 11/3/25§ | 2000000 | 2003801 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.50%), 5.702%, 1/8/27(k)(m) | 2000000 | 2019351 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.04%), 5.203%, 6/24/27(k)§ | 1000000 | 1004050 |
|  Mercedes-Benz Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.67%), 4.852%, 1/9/26(k)§ | 5100000 | 5105559 |
|  Nissan Motor Acceptance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/9/26§ | 1100000 | 1081443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.850%, 9/16/26(m) | 1000000 | 965000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.850%, 9/16/26§ | 4000000 | 3860000 |
|  Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 11/24/25§ | 1000000 | 995430 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.06%), 5.244%, 8/14/26(k)§ | 1392000 | 1396740 |
|  |  | 24326463 |
|  ***Hotels, Restaurants & Leisure (1.4%)*** |  |  |
|  Expedia Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/15/26 | 2401000 | 2399368 |
|  Las Vegas Sands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 8/18/26 | 1400000 | 1388575 |
|  Royal Caribbean Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/31/26§ | 300000 | 301387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/1/28§ | 7300000 | 7438145 |
|  |  | 11527475 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 35853938 |
|  **Consumer Staples (2.4%)** |  |  |
|  ***Beverages (0.7%)*** |  |  |
|  Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 12/6/26 | 2700000 | 2684522 |
|  Molson Coors Beverage Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/15/26 | 3000000 | 2973420 |
|  |  | 5657942 |
|  ***Food Products (1.7%)*** |  |  |
|  Campbell's Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 3/20/26 | 5200000 | 5224552 |
|  Conagra Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 11/1/25 | 5500000 | 5494426 |
|  Kraft Heinz Foods Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/1/26 | 3100000 | 3071080 |
|  |  | 13790058 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 19448000 |
|  **Energy (1.0%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (1.0%)*** |  |  |
|  MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 3/1/26 | 3000000 | 2969355 |
|  ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 1/15/26 | 1100000 | 1102840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 9/24/27 | 1200000 | 1201757 |
|  Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 6/30/26 | 1099000 | 1102536 |
|  Williams Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 3/2/26 | 1500000 | 1506666 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 7883154 |
|  **Financials (20.5%)** |  |  |
|  ***Banks (8.4%)*** |  |  |
|  ABN AMRO Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.80%), 1.542%, 6/16/27(k)(m) | 200000 | 196038 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.78%), 5.946%, 9/18/27(k)§ | 1000000 | 1010042 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.00%), 5.194%, 12/3/28(k)§ | 500000 | 501017 |
|  Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.01%), 1.197%, 10/24/26(k) | 3915000 | 3907408 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.29%), 5.080%, 1/20/27(k) | 645000 | 646166 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.97%), 5.246%, 7/22/27(k) | 1100000 | 1105150 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.35%), 5.597%, 9/15/27(k) | 2100000 | 2115851 |

---

See Notes to Portfolio of Investments.

770

------

**EQ ADVISORS TRUST** 

EQ/PIMCO ULTRA SHORT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.88%), 5.050%, 9/10/27(k) | $1400000 | $1403931 |
|  Bank of Nova Scotia (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.55%), 4.739%, 3/2/26(k) | 300000 | 300335 |
|  Barclays plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 1/12/26 | 1700000 | 1699673 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.21%), 5.829%, 5/9/27(k) | 1000000 | 1008694 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.49%), 5.659%, 3/12/28(k) | 1400000 | 1414001 |
|  BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.00%), 1.323%, 1/13/27(k)§ | 1000000 | 990861 |
|  BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.52%), 1.652%, 10/6/26(k)§ | 1750000 | 1749298 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.203%, 1/18/27§ | 425000 | 430526 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.10%), 5.975%, 1/18/27(k)§ | 800000 | 803260 |
|  Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.72%), 4.919%, 1/13/28(k) | 400000 | 400364 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.80%), 4.971%, 9/8/28(k) | 3000000 | 3003504 |
|  Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.77%), 1.122%, 1/28/27(k) | 1000000 | 989736 |
|  Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.62%), 4.797%, 8/28/26(k) | 7000000 | 7017982 |
|  Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.29%), 5.513%, 7/5/26(k)§ | 400000 | 402783 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.87%), 5.039%, 3/11/27(k)§ | 905000 | 907441 |
|  HSBC Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.57%), 5.713%, 8/14/27(k) | 900000 | 907785 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.57%), 5.887%, 8/14/27(k) | 1300000 | 1317679 |
|  HSBC USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.96%), 5.133%, 3/4/27(k) | 1000000 | 1004900 |
|  Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 11/21/25§ | 3000000 | 3008134 |
|  JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 0.70%), 1.040%, 2/4/27(k) | 500000 | 494424 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.77%), 4.929%, 9/22/27(k) | 2400000 | 2403350 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.20%), 5.395%, 1/23/28(k) | 5000000 | 5023387 |
|  Lloyds Banking Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.06%), 5.197%, 11/26/28(k) | 1600000 | 1605566 |
|  Morgan Stanley Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.69%), 4.884%, 10/15/27(k) | 5000000 | 5011600 |
|  Morgan Stanley Private Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.77%), 5.046%, 7/6/28(k) | 1000000 | 1002044 |
|  NatWest Markets plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.76%), 4.920%, 9/29/26(k)(m) | 500000 | 501250 |
|  PNC Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.73%), 4.926%, 7/21/28(k) | 4100000 | 4106268 |
|  Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.72%), 4.917%, 10/18/27(k) | 700000 | 700872 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.86%), 5.057%, 10/18/28(k) | 300000 | 300707 |
|  Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.23%), 6.124%, 5/31/27(k) | 1000000 | 1010836 |
|  Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 1.488%, 12/14/26(k)§ | 300000 | 298158 |
|  Standard Chartered plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 4/12/26(m) | 1500000 | 1496340 |
|  Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.43%), 5.589%, 1/13/26(k) | 3805000 | 3818082 |
|  Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.78%), 4.974%, 1/24/28(k) | 2000000 | 2001910 |
|  |  | 68017353 |
|  ***Capital Markets (1.8%)*** |  |  |
|  Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 1/13/26 | 500000 | 499379 |
|  Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.79%), 1.093%, 12/9/26(k) | 4000000 | 3974870 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.79%), 4.960%, 12/9/26(k) | 1800000 | 1801411 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.80%), 1.431%, 3/9/27(k) | 1000000 | 987398 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.81%), 4.980%, 3/9/27(k) | 300000 | 300132 |
|  (CME Term SOFR 3 Month + 2.01%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.325%, 10/28/27(k) | 1000000 | 1014574 |
|  Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.30%), 5.050%, 1/28/27(k) | 1600000 | 1602539 |

---

See Notes to Portfolio of Investments.

771

------

**EQ ADVISORS TRUST** 

EQ/PIMCO ULTRA SHORT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.88%), 1.593%, 5/4/27(k) | $400000 | $393426 |
|  Nomura Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.709%, 1/9/26 | 1700000 | 1705687 |
|  UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.08%), 1.364%, 1/30/27(k)§ | 1000000 | 990007 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.98%), 1.305%, 2/2/27(k)§ | 1700000 | 1682220 |
|  |  | 14951643 |
|  ***Consumer Finance (3.0%)*** |  |  |
|  American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.79%), 4.995%, 10/3/25(k) | 1400000 | 1400045 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.73%), 4.901%, 3/8/27(k) | 1900000 | 1903254 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.87%), 5.071%, 7/9/27(k) | 4100000 | 4112688 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.73%), 4.914%, 8/13/27(k) | 2000000 | 2003613 |
|  Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1/15/26§ | 1500000 | 1501935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/21/26§ | 601000 | 593854 |
|  Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.389%, 1/8/26 | 725000 | 722803 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 3/6/26 | 300000 | 301206 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.95%), 7.121%, 3/6/26(k) | 500000 | 503798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 11/5/26 | 4900000 | 4904949 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.45%), 5.638%, 11/5/26(k) | 200000 | 200000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 3/5/27 | 1000000 | 1009590 |
|  Toyota Motor Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.77%), 4.957%, 8/7/26(k) | 4765000 | 4784131 |
|  |  | 23941866 |
|  ***Financial Services (0.3%)*** |  |  |
|  Voya Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 6/15/26 | 2600000 | 2591113 |
|  ***Insurance (7.0%)*** |  |  |
|  Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.75%), 4.948%, 7/16/26(k)§ | 2800000 | 2805919 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.83%), 5.053%, 1/7/27(k)§ | 2000000 | 2003726 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.21%), 5.372%, 3/25/27(k)§ | 6000000 | 6043299 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.00%), 5.166%, 9/18/28(k)§ | 800000 | 800310 |
|  Corebridge Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 7/2/26§ | 664000 | 671844 |
|  F&G Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 6/30/26§ | 120000 | 117736 |
|  GA Global Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 1/15/26§ | 2900000 | 2876024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 1/6/27§ | 3000000 | 2925038 |
|  Jackson National Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 4/10/26§ | 1400000 | 1408533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 1/13/27§ | 1500000 | 1511399 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.95%), 5.119%, 9/12/28(k)§ | 1200000 | 1204828 |
|  New York Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.55%), 4.719%, 6/11/27(k)§ | 11000000 | 11020252 |
|  Pacific Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.62%), 4.793%, 6/4/26(k)§ | 13000000 | 13029073 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.48%), 4.669%, 2/4/27(k)§ | 5000000 | 5001369 |
|  Reliance Standard Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.512%, 9/28/26§ | 5490000 | 5344957 |
|  RGA Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/30/26§ | 500000 | 487399 |
|  |  | 57251706 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 166753681 |
|  **Health Care (1.8%)** |  |  |
|  ***Health Care Providers & Services (0.7%)*** |  |  |
|  Cigna Group (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 3/15/26 | 500000 | 492970 |
|  HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 2/15/26 | 2000000 | 2001406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/15/26 | 800000 | 801593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/15/27 | 1606000 | 1608375 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.87%), 5.064%, 3/1/28(k) | 800000 | 804568 |
|  |  | 5708912 |
|  ***Life Sciences Tools & Services (0.6%)*** |  |  |
|  Illumina, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 12/12/25 | 5000000 | 5007344 |
|  ***Pharmaceuticals (0.5%)*** |  |  |
|  Bayer US Finance II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/15/25§ | 4173000 | 4167989 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 14884245 |
|  **Industrials (2.9%)** |  |  |
|  ***Aerospace & Defense (1.2%)*** |  |  |
|  Boeing Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 10/30/25 | 2000000 | 1996917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.196%, 2/4/26 | 7200000 | 7145136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 6/15/26 | 400000 | 394287 |
|  General Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 0.64%), 4.963%, 5/5/26(k) | 516000 | 516904 |
|  |  | 10053244 |
|  ***Ground Transportation (0.8%)*** |  |  |
|  Penske Truck Leasing Co. LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 11/15/25§ | 6110000 | 6083710 |

---

See Notes to Portfolio of Investments.

772

------

**EQ ADVISORS TRUST** 

EQ/PIMCO ULTRA SHORT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  ***Machinery (0.1%)*** |  |  |
|  Westinghouse Air Brake Technologies Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 11/15/26 | $940000 | $931711 |
|  ***Professional Services (0.0%)†*** |  |  |
|  TR Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 5/15/26 | 100000 | 99311 |
|  ***Trading Companies & Distributors (0.8%)*** |  |  |
|  Aircastle Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 6/15/26 | 3000000 | 2995914 |
|  Aviation Capital Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 1/30/26§ | 400000 | 396501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 9/20/26§ | 2900000 | 2833011 |
|  GATX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 9/15/26 | 200000 | 198451 |
|  |  | 6423877 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 23591853 |
|  **Information Technology (2.2%)** |  |  |
|  ***Electronic Equipment, Instruments & Components (0.7%)*** |  |  |
|  Flex Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 2/1/26 | 5600000 | 5584936 |
|  ***Semiconductors & Semiconductor Equipment (0.5%)*** |  |  |
|  Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 11/15/25 | 1970000 | 1966245 |
|  Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 4/15/26 | 576000 | 567450 |
|  NXP BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 3/1/26 | 600000 | 600852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/18/26 | 1200000 | 1196148 |
|  |  | 4330695 |
|  ***Software (0.9%)*** |  |  |
|  Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 7/15/26 | 5000000 | 4940201 |
|  VMware LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.400%, 8/15/26 | 2500000 | 2445091 |
|  |  | 7385292 |
|  ***Technology Hardware, Storage & Peripherals (0.1%)*** |  |  |
|  Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 10/1/26 | 1100000 | 1106029 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 18406952 |
|  **Materials (1.3%)** |  |  |
|  ***Containers & Packaging (1.0%)*** |  |  |
|  Berry Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.570%, 1/15/26 | 2900000 | 2873539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 7/15/26§ | 5109000 | 5109066 |
|  |  | 7982605 |
|  ***Metals & Mining (0.3%)*** |  |  |
|  Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.75%), 4.655%, 10/1/26(k)§ | 2400000 | 2403871 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 10386476 |
|  **Real Estate (2.1%)** |  |  |
|  ***Specialized REITs (2.1%)*** |  |  |
|  American Tower Corp. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 2/15/26 | 1000000 | 1000503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.600%, 4/15/26 | 3434000 | 3384929 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 9/15/26 | 1000000 | 975706 |
|  Crown Castle, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.050%, 7/15/26 | 8300000 | 8095974 |
|  CubeSmart LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 9/1/26 | 1100000 | 1089754 |
|  Weyerhaeuser Co. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/15/26 | 1030000 | 1031925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.350%, 7/1/26 | 1232000 | 1253188 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 16831979 |
|  **Utilities (4.7%)** |  |  |
|  ***Electric Utilities (3.4%)*** |  |  |
|  American Electric Power Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series N |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 11/1/25 | 1900000 | 1895176 |
|  Emera US Finance LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 6/15/26 | 300000 | 297899 |
|  Eversource Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/15/26 | 555000 | 556525 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series U |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.400%, 8/15/26 | 1000000 | 975554 |
|  FirstEnergy Pennsylvania Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/30/26§ | 3200000 | 3211203 |
|  Jersey Central Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 1/15/26§ | 1115000 | 1114883 |
|  NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.76%), 4.952%, 1/29/26(k) | 5000000 | 5007942 |
|  Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 1/1/26 | 4000000 | 3986487 |
|  Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 6/1/26 | 1300000 | 1304181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 9/6/26 | 1200000 | 1201876 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 20C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 2/1/26 | 2600000 | 2569874 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 6/1/27 | 2800000 | 2812220 |
|  Virginia Electric and Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 1/15/26 | 2696000 | 2688767 |
|  |  | 27622587 |
|  ***Multi-Utilities (1.3%)*** |  |  |
|  Black Hills Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 1/15/26 | 2500000 | 2492343 |
|  CenterPoint Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 6/1/26 | 8000000 | 7849306 |
|  |  | 10341649 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 37964236 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  | 357944236 |

---

See Notes to Portfolio of Investments.

773

------

**EQ ADVISORS TRUST** 

EQ/PIMCO ULTRA SHORT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  **Foreign Government Security (0.9%)** |  |  |
|  Kommunalbanken A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.40%), 4.554%, 3/3/28(k)§ | $7350000 | $7361751 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Foreign Government Security** |  | 7361751 |
|  **Mortgage-Backed Securities (0.3%)** |  |  |
|  FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.430%, 1/1/34(l) | 1297 | 1320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.676%, 11/1/35(l) | 3739 | 3861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.417%, 7/1/36(l) | 82683 | 84635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.030%, 9/1/36(l) | 26930 | 27551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.461%, 10/1/36(l) | 28695 | 29445 |
|  FNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.526%, 11/1/34(l) | 31248 | 32017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 1/1/35(l) | 1176 | 1203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.942%, 7/1/35(l) | 1598 | 1626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.478%, 12/1/35(l) | 12340 | 12724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.825%, 3/1/36(l) | 14240 | 14781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.421%, 3/1/44(l) | 39880 | 39652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.421%, 7/1/44(l) | 343 | 341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.421%, 10/1/44(l) | 2847 | 2830 |
|  FNMA UMBS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/1/26 | 1811192 | 1796640 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Mortgage-Backed Securities** |  | 2048626 |
|  **Municipal Bond (0.2%)** |  |  |
|  University of Tulane, Series 2007C, NATL-RE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 0.30%), 4.773%, 2/15/36(k) | 1880000 | 1750047 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Municipal Bond** |  | 1750047 |
|  **U.S. Government Agency Securities (6.4%)** |  |  |
|  FHLB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 3/23/26 | 17550000 | 17317126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.020%, 2/24/27 | 30000000 | 28904031 |
|  FNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.26%), 4.390%, 11/5/27(k) | 6000000 | 6008164 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Government Agency Securities** |  | 52229321 |
|  **U.S. Treasury Obligation (0.4%)** |  |  |
|  U.S. Treasury Inflation Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 4/15/29 TIPS | 3143704 | 3244440 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligation** |  | 3244440 |
|  **Total Long-Term Debt Securities (96.4%)**<br>*(Cost $790,998,735)* |  | 783661133 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Commercial Paper (1.1%)** |  |  |
|  Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 10/21/25(n)(p)§ | 1100000 | 1097029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/23/25(n)(p)§ | 1900000 | 1894372 |
|  Harley-Davidson Financial Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.42%, 10/16/25(n)(p) | 2400000 | 2395298 |
|  HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.66%, 10/20/25(n)(p)§ | 1200000 | 1196904 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.66%, 10/21/25(n)(p)§ | 2000000 | 1994575 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Paper** |  | 8578178 |
|  **U.S. Government Agency Securities (0.1%)** |  |  |
|  FHLB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.89%, 12/26/25(o)(p) | 600000 | 594410 |
|  **Total Short-Term Investments (1.2%)**<br>*(Cost $9,173,095)* |  | 9172588 |
|  **Total Investments in Securities (97.6%)**<br>*(Cost $800,171,830)* |  | 792833721 |
|  **Other Assets Less Liabilities (2.4%)** |  | 19858084 |
|  **Net Assets (100%)** |  | $812691805 |

---

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

---

| | |
|:---|:---|
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At September 30, 2025, the market value of these securities amounted to $309,661,567 or 38.1% of net assets.*  |

---

*(e)* *Step Bond - Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of September 30, 2025. Maturity date disclosed is the ultimate maturity date.* 

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

*(k)* *Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of September 30, 2025.* 

*(l)* *Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of September 30, 2025.* 

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $5,177,979 or 0.6% of net assets.* 

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

*(o)* *Discount Note Security. Effective rate calculated as of September 30, 2025.* 

*(p)* *Yield to maturity.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

See Notes to Portfolio of Investments.

774

------

**EQ ADVISORS TRUST** 

EQ/PIMCO ULTRA SHORT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*Glossary:* 

*ARM — Adjustable Rate Mortgage* 

*CME — Chicago Mercantile Exchange* 

*CLO — Collateralized Loan Obligation* 

*FHLB — Federal Home Loan Bank* 

*FHLMC — Federal Home Loan Mortgage Corp.* 

*FNMA — Federal National Mortgage Association* 

*GNMA — Government National Mortgage Association* 

*NATL-RE — Insured by National Public Finance Guarantee Corp.* 

*REIT — Real Estate Investment Trust* 

*REMIC — Real Estate Mortgage Investment Conduit* 

*SOFR — Secured Overnight Financing Rate* 

*STRIPS — Separate Trading of Registered Interest and Principal Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities.* 

*TIPS — Treasury Inflation Protected Security* 

*UMBS — Uniform Mortgage-Backed Securities* 

*USD — United States Dollar* 

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  U.S. Treasury 5 Year Note | 1516 | 12/2025 | USD | 165540095 | 2684 |
|  3 Month SOFR | 593 | 9/2026 | USD | 143379987 | 51306 |
|  |  |  |  |  | 53990 |
|  **Short Contracts** |  |  |  |  |  |
|  3 Month SOFR | (112) | 12/2025 | USD | (26868100) | (2210) |
|  U.S. Treasury 2 Year Note | (2605) | 12/2025 | USD | (542877931) | (270926) |
|  U.S. Treasury 10 Year Note | (2) | 12/2025 | USD | (225000) | (1846) |
|  U.S. Treasury 10 Year Ultra |  |  |  |  |  |
|  Note | (77) | 12/2025 | USD | (8861016) | (70281) |
|  U.S. Treasury Ultra Bond | (100) | 12/2025 | USD | (12006250) | (344184) |
|  |  |  |  |  | (689447) |
|  |  |  |  |  | (635457) |

---

See Notes to Portfolio of Investments.

775

------

**EQ ADVISORS TRUST** 

EQ/PIMCO ULTRA SHORT BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates, prepayment<br>speeds, credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in determining<br>the fair value of<br>investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Asset-Backed Securities** | $— | $193260378 | $— | $193260378 |
|  **Collateralized Mortgage Obligations** |  | 151546437 | 599813 | 152146250 |
|  **Commercial Mortgage-Backed Securities** |  | 13676084 |  | 13676084 |
|  **Corporate Bonds** |  |  |  |  |
|  Communication Services |  | 5939722 |  | 5939722 |
|  Consumer Discretionary |  | 35853938 |  | 35853938 |
|  Consumer Staples |  | 19448000 |  | 19448000 |
|  Energy |  | 7883154 |  | 7883154 |
|  Financials |  | 166753681 |  | 166753681 |
|  Health Care |  | 14884245 |  | 14884245 |
|  Industrials |  | 23591853 |  | 23591853 |
|  Information Technology |  | 18406952 |  | 18406952 |
|  Materials |  | 10386476 |  | 10386476 |
|  Real Estate |  | 16831979 |  | 16831979 |
|  Utilities |  | 37964236 |  | 37964236 |
|  **Foreign Government Security** |  | 7361751 |  | 7361751 |
|  **Futures** | 53990 |  |  | 53990 |
|  **Mortgage-Backed Securities** |  | 2048626 |  | 2048626 |
|  **Municipal Bond** |  | 1750047 |  | 1750047 |
|  **Short-Term Investments** |  |  |  |  |
|  Commercial Paper |  | 8578178 |  | 8578178 |
|  U.S. Government Agency Security |  | 594410 |  | 594410 |
|  **U.S. Government Agency Securities** |  | 52229321 |  | 52229321 |
|  **U.S. Treasury Obligation** |  | 3244440 |  | 3244440 |
|  **Total Assets** | $**53990** | $**792233908** | $**599813** | $**792887711** |
|  **Liabilities:** |  |  |  |  |
|  **Futures** | $(689447) | $— | $— | $(689447) |
|  **Total Liabilities** | $**(689447)** | $**—** | $**—** | $**(689447)** |
|  **Total** | $**(635457)** | $**792233908** | $**599813** | $**792198264** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $2347518 |
|  Aggregate gross unrealized depreciation | (16781512) |
|  Net unrealized depreciation | $(14433994) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $806632258 |

---

See Notes to Portfolio of Investments.

776

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Asset-Backed Securities (2.2%)** |  |  |
|  AB Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.734%, 7/30/51§ | $325748 | $306508 |
|  ACM Auto Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.060%, 2/20/29§ | 77624 | 77874 |
|  ACREC Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 10/16/36(l)§ | 258183 | 258172 |
|  Affirm Asset Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-X1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.080%, 4/15/30§ | 102026 | 102242 |
|  Air Canada Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-1 AA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 1/15/30§ | 384960 | 366620 |
|  American Airlines Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1 AA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 2/15/32 | 491097 | 458707 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 7/11/34 | 671304 | 606154 |
|  American Credit Acceptance Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 5/14/29§ | 259000 | 260360 |
|  Arbor Realty Commercial Real Estate Notes Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FL1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.822%, 1/15/37(l)§ | 395732 | 395732 |
|  Arivo Acceptance Auto Loan Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.920%, 5/15/29§ | 137000 | 137203 |
|  Atlas Senior Loan Fund XV Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-15A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.539%, 10/23/32(l)§ | 453934 | 454388 |
|  Avis Budget Rental Car Funding AESOP LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.440%, 2/22/28§ | 185000 | 187630 |
|  Bain Capital Credit CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-3A ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.355%, 10/21/34(l)§ | 500000 | 500400 |
|  BlueMountain Fuji Eur CLO V DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.936%, 1/15/33(l)§ | 583344 | 683792 |
|  Brex Commercial Charge Card Master Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 7/15/27§ | $165000 | 166094 |
|  BRSP Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.398%, 8/19/38(l)§ | 293013 | 292645 |
|  Cajun Global LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.931%, 11/20/51§ | 63525 | 62577 |
|  Canyon Capital CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A AR2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.328%, 10/15/34(l)§ | 600000 | 600121 |
|  Capital Four US CLO II Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.225%, 1/20/37(l)§ | 500000 | 501658 |
|  Carlyle Global Market Strategies CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-3A ARRR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.415%, 7/20/34(l)§ | 500000 | 500147 |
|  CarVal CLO III Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A AR2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.315%, 7/20/32(l)§ | 577239 | 577426 |
|  Carvana Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-N3 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.020%, 6/12/28 | 13590 | 13066 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-P4 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.610%, 9/11/28 | 169000 | 161013 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-P3 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.610%, 11/10/27 | 49635 | 49646 |
|  Catamaran CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-1A A1AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.694%, 4/22/30(l)§ | 71107 | 71178 |
|  College Ave Student Loans LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.320%, 7/26/55§ | 126434 | 115630 |
|  CVC Cordatus Loan Fund VII DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 7A ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.644%, 9/15/31(l)§ | 339858 | 397968 |
|  CVC Cordatus Loan Fund XI DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 11A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.676%, 10/15/31(l)§ | 336639 | 394997 |
|  CVS Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.789%, 1/10/26§ | $13037 | 13036 |
|  Dext ABS LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.990%, 3/15/32§ | 79254 | 79658 |
|  Diamond Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.305%, 11/20/51§ | 325933 | 310162 |
|  Dryden 54 Senior Loan Fund, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-54A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.475%, 10/19/29(l)§ | 143237 | 143256 |
|  Elevation CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-16A A1AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.448%, 7/25/34(l)§ | 600000 | 600293 |
|  Equify ABS LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.430%, 4/18/33§ | 82852 | 82927 |
|  First Investors Auto Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.470%, 11/15/27§ | 161808 | 160525 |
|  Ford Credit Auto Lease Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 6/15/27 | 500000 | 503332 |
|  Ford Credit Auto Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.310%, 10/17/33§ | 245000 | 241522 |
|  GCI Funding I LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.380%, 6/18/46§ | 104485 | 96911 |

---

See Notes to Portfolio of Investments.

777

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  GLS Auto Receivables Issuer Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 8/16/27§ | $47335 | $47392 |
|  Go Mortgage LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.433%, 8/15/26(l) | 84257 | 83627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.435%, 8/15/26(l) | 176000 | 174966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.638%, 8/15/26(l) | 12000 | 11827 |
|  GreenSky Home Improvement Issuer Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.320%, 3/25/60§ | 400000 | 407782 |
|  Greywolf CLO III Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-3RA A1R2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.562%, 4/22/33(l)§ | 585131 | 585570 |
|  Harvest CLO XXII DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 22A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.876%, 1/15/32(l)§ | 620260 | 727488 |
|  HFX Funding Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.622%, 3/15/35(l) | $2216 | 2206 |
|  Hyundai Auto Lease Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.020%, 3/15/27§ | 463472 | 464910 |
|  JetBlue Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/32 | 634980 | 600116 |
|  Lendbuzz Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.920%, 8/15/28§ | 122542 | 124274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.090%, 10/16/28§ | 54723 | 55556 |
|  Lendmark Funding Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 11/20/31§ | 800000 | 774425 |
|  Madison Park Funding XLVI Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-46A ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.318%, 10/15/34(l)§ | 600000 | 600480 |
|  Mariner Finance Issuance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-AA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.860%, 3/20/36§ | 800000 | 783821 |
|  MMAF Equipment Finance LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 9/13/27§ | 219739 | 220390 |
|  MVW LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.830%, 5/20/39§ | 47709 | 45213 |
|  Navesink CLO 2 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.588%, 4/15/36(l)§ | 500000 | 499112 |
|  Neighborly Issuer, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.695%, 1/30/52§ | 228705 | 214561 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.308%, 1/30/53§ | 243750 | 247364 |
|  Nelnet Student Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BA B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.680%, 4/20/62§ | 100000 | 88674 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-CA B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.530%, 4/20/62§ | 147147 | 128694 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-DA B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 4/20/62§ | 132000 | 117134 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-AA AFL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.589%, 2/20/41(l)§ | 251092 | 257468 |
|  Neuberger Berman Loan Advisers CLO 42 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-42A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.268%, 7/16/36(l)§ | 469642 | 469647 |
|  NMEF Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 12/15/31§ | 130975 | 131805 |
|  OCCU Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.820%, 4/17/28§ | 173000 | 173224 |
|  OCP CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-34A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.678%, 10/15/37(l)§ | 250000 | 251083 |
|  Oportun Funding Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.260%, 8/15/29§ | 45005 | 45045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.960%, 8/16/32§ | 54238 | 54229 |
|  Oportun Issuance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.860%, 2/9/32§ | 23127 | 23150 |
|  Pagaya AI Debt Grantor Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.278%, 10/15/31§ | 46880 | 47239 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-9 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, 3/15/32§ | 198353 | 198950 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 3/15/33(l)§ | 206000 | 206482 |
|  Pagaya AI Debt Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.319%, 8/15/31§ | 40013 | 40411 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.258%, 10/15/31§ | 145335 | 146098 |
|  Prestige Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.870%, 12/15/27§ | 218000 | 218284 |
|  Ready Capital Mortgage Financing LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL7 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.472%, 11/25/36(l)§ | 152928 | 152917 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-FL11 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.532%, 10/25/39(l)§ | 3066 | 3075 |
|  Research-Driven Pagaya Motor Asset Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.124%, 4/25/34§ | 275313 | 276951 |
|  Research-Driven Pagaya Motor Asset Trust VII, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.380%, 11/25/30§ | 8396 | 8399 |
|  Research-Driven Pagaya Motor Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.090%, 6/25/32§ | 56737 | 57243 |
|  Santander Drive Auto Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.410%, 7/15/27 | 10365 | 10371 |

---

See Notes to Portfolio of Investments.

778

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  STWD Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FL3 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.722%, 11/15/38(l)§ | $425279 | $425079 |
|  Sunrun Demeter Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.270%, 1/30/57§ | 643711 | 579625 |
|  Symphony CLO XXXII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-32A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.419%, 10/23/35(l)§ | 700000 | 700536 |
|  Tesla Auto Lease Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 6/21/27§ | 80708 | 80964 |
|  Tricolor Auto Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.360%, 12/15/27§ | 20863 | 20088 |
|  United Airlines Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/15/27 | 331899 | 339395 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 1/15/36 | 279891 | 289461 |
|  United States Small Business Administration, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2008-20G 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.870%, 7/1/28 | 35967 | 36642 |
|  Venture 32 CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-32A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.691%, 7/18/31(l)§ | 286822 | 286917 |
|  Voya CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.525%, 7/20/32(l)§ | 424516 | 424822 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Asset-Backed Securities** |  | 23892752 |
|  **Collateralized Mortgage Obligations (2.1%)** |  |  |
|  Adjustable Rate Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-5 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 9/25/35(l) | 26448 | 23253 |
|  Alternative Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-80CB 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/25/36 | 229360 | 199742 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-J12 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.812%, 8/25/35(l) | 352291 | 178879 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA22 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.592%, 2/25/47(l) | 60536 | 59614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA6 1A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.692%, 7/25/46(l) | 23387 | 21288 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-14T2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 7/25/37 | 370710 | 188947 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OH1 A1D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.482%, 4/25/47(l) | 35933 | 31665 |
|  AREIT Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-CRE6 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.636%, 1/20/37(l)§ | 281638 | 281640 |
|  Banc of America Funding Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-A 1A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.619%, 9/20/34(l) | 3646 | 3222 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-H 4A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.835%, 9/20/46(l) | 64292 | 57933 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-J 4A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.971%, 1/20/47(l) | 3519 | 3047 |
|  Bear Stearns ALT-A Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-7 22A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.838%, 9/25/35(l) | 83479 | 45444 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-4 21A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.774%, 8/25/36(l) | 35888 | 22610 |
|  Bear Stearns ARM Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-9 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.777%, 2/25/34(l) | 11951 | 11249 |
|  Bear Stearns Mortgage Funding Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR5 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.432%, 12/25/46(l) | 263382 | 237733 |
|  Bear Stearns Structured Products, Inc. Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-R6 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.972%, 1/26/36(l) | 25297 | 17678 |
|  Beignet, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.850%, 6/1/49 | 2100000 | 2100000 |
|  Bellemeade Re Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1 M1B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.506%, 1/26/32(l)§ | 17869 | 17891 |
|  Chase Home Lending Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-RPL2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 3/25/63(l)§ | 433276 | 393182 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-7 A11 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.656%, 6/25/55(l)§ | 417902 | 417909 |
|  Chase Mortgage Finance Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-CL1 M3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.372%, 4/25/47(l)§ | 32142 | 32532 |
|  CHL Mortgage Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-11 3A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.649%, 4/25/35(l) | 44016 | 32803 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.912%, 3/25/35(l) | 20519 | 19340 |
|  CIM Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-I2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.639%, 12/25/67(e)§ | 327536 | 329800 |
|  Citigroup Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-3 2A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.482%, 8/25/35(l) | 2671 | 2546 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2009-7 5A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/25/35§ | 267243 | 129112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 A11 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.706%, 7/25/54(l)§ | 342114 | 343628 |
|  Connecticut Avenue Securities, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R01 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, 1/25/45(l)§ | 255188 | 255348 |
|  Connecticut Avenue Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R01 1M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.906%, 10/25/41(l)§ | 280271 | 280797 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R03 1M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.006%, 12/25/41(l)§ | 122411 | 122966 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-R01 1M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.256%, 12/25/41(l)§ | 388764 | 397846 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-R02 2M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.556%, 1/25/42(l)§ | 23242 | 23235 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-R01 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.756%, 12/25/42(l)§ | 152713 | 156258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-R02 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.656%, 1/25/43(l)§ | 90666 | 92310 |

---

See Notes to Portfolio of Investments.

779

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-R04 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.656%, 5/25/43(l)§ | $173818 | $177404 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-R05 1M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.256%, 6/25/43(l)§ | 136463 | 137479 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R05 2M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, 7/25/44(l)§ | 42391 | 42384 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R02 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.356%, 2/25/45(l)§ | 73589 | 73680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R03 2M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.956%, 3/25/45(l)§ | 191545 | 192353 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R05 2M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.556%, 7/25/45(l)§ | 264775 | 265579 |
|  CSMC Mortgage-Backed Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-6 1A8 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 7/25/36 | 387661 | 174697 |
|  EMF-NL Prime BV, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2008-APRX A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.842%, 4/17/41(l)(m) | 19682 | 23015 |
|  Eurohome UK Mortgages plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.244%, 6/15/44(l)(m) | 64644 | 86595 |
|  Eurosail-UK plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-4X A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.044%, 6/13/45(l)(m) | 198880 | 266960 |
|  FHLMC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4790 F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.677%, 10/15/43(l) | $188516 | 184685 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4989 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 8/15/40(l) | 156374 | 154294 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4989 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 10/15/40(l) | 115181 | 113570 |
|  FHLMC STACR REMIC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-DNA5 M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.006%, 1/25/34(l)§ | 35566 | 35676 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-DNA7 M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.156%, 11/25/41(l)§ | 405614 | 409037 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-HQA2 M2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.406%, 12/25/33(l)§ | 120662 | 123604 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-HQA4 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, 12/25/41(l)§ | 175012 | 175066 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-DNA4 M1B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.706%, 5/25/42(l)§ | 227990 | 236610 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-DNA5 M1B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.856%, 6/25/42(l)§ | 406679 | 430163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-DNA7 M1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.856%, 3/25/52(l)§ | 108779 | 109900 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-DNA1 M1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.448%, 3/25/43(l)§ | 98661 | 100058 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-DNA2 M1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.448%, 4/25/43(l)§ | 210940 | 213835 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-HQA1 M1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.356%, 5/25/43(l)§ | 278057 | 280318 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-HQA2 M1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.356%, 6/25/43(l)§ | 68162 | 68465 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-HQA2 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.556%, 8/25/44(l)§ | 189216 | 189333 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DNA3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.320%, 9/25/45(l)§ | 279492 | 279667 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-HQA1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.306%, 2/25/45(l)§ | 166030 | 166082 |
|  FNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2012-123 LF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.851%, 11/25/42(l) | 68378 | 67935 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-83 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 10/25/55(l) | 400000 | 400244 |
|  GNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H20 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.066%, 8/20/65(l) | 121624 | 121627 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H11 F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.266%, 5/20/66(l) | 143289 | 143632 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H15 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.266%, 7/20/66(l) | 107738 | 108001 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-H10 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.592%, 4/20/67(l) | 447297 | 453359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-H02 FN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.889%, 1/20/72(l) | 266076 | 262768 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-H26 DF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.409%, 12/20/72(l) | 301561 | 304819 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H01 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.189%, 1/20/73(l) | 392224 | 392759 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H02 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.289%, 1/20/73(l) | 292677 | 293052 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H02 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.289%, 1/20/73(l) | 694232 | 695166 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H28 F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.439%, 12/20/73(l) | 491105 | 494417 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H28 GF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.289%, 12/20/73(l) | 926317 | 929369 |
|  GSR Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-8F 4A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/25/35 | 343133 | 126335 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR6 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.191%, 9/25/35(l) | 23607 | 22735 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR2 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.292%, 4/25/36(l) | 56466 | 33693 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-AR1 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.245%, 3/25/47(l) | 152085 | 83875 |
|  HarborView Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-13 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.428%, 11/19/46(l) | 32133 | 22336 |
|  Impac Secured Assets CMN Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-1 5A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.542%, 7/25/35(l) | 128206 | 80703 |
|  IndyMac INDX Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR11 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.686%, 8/25/35(l) | 236372 | 174473 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR39 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.632%, 2/25/37(l) | 368889 | 341641 |
|  JP Morgan Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A3 6A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.960%, 8/25/34(l) | 10133 | 10047 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-A1 3A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.204%, 7/25/35(l) | 19668 | 18925 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-S3 1A90 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 8/25/37 | 46538 | 22561 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-VIS1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.990%, 7/25/64(l)§ | 398985 | 403019 |
|  Ludgate Funding plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.288%, 1/1/61(l)(m) | 342595 | 450584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2008-W1X A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.728%, 1/1/61(l)(m) | 42738 | 56967 |

---

See Notes to Portfolio of Investments.

780

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Merrill Lynch Mortgage Investors Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-A1 3A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.945%, 12/25/32(l) | $5202 | $5107 |
|  MortgageIT Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-1 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.732%, 4/25/36(l) | 127627 | 121939 |
|  OBX Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-HYB2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.688%, 4/25/53(l)§ | 369849 | 364129 |
|  PRKCM Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-AFC2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.335%, 8/25/57(l)§ | 332286 | 332129 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-AFC3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.584%, 9/25/58(e)§ | 312376 | 315437 |
|  PRPM Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-NQM3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.221%, 11/25/68(e)§ | 349529 | 353030 |
|  RALI Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-QO2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.513%, 9/25/45(l) | 155605 | 132630 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-QA6 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.652%, 7/25/36(l) | 296180 | 270843 |
|  Reperforming Loan REMIC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-R1 AF1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.612%, 1/25/36(l)§ | 81703 | 77386 |
|  Residential Asset Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A15 5A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 2/25/36 | 13322 | 4366 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A12 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 11/25/36 | 167589 | 59137 |
|  Sequoia Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 10 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.010%, 10/20/27(l) | 376 | 371 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-4 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 7/20/33(l) | 4843 | 4832 |
|  Structured Asset Mortgage Investments II Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR5 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.748%, 7/19/35(l) | 34111 | 32840 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR3 11A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.692%, 4/25/36(l) | 115767 | 105306 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR6 1A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.652%, 7/25/46(l) | 515772 | 413178 |
|  Towd Point Mortgage Funding plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-GR6A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.925%, 7/20/53(l)§ | 360488 | 485924 |
|  Towd Point Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 7/25/62(l)§ | $332250 | 318931 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5 A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.562%, 10/25/64(l)§ | 517472 | 521124 |
|  UWM Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-INV3 A9 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/25/51(l)§ | 615045 | 574522 |
|  Verus Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 12/25/67(e)§ | 320193 | 319928 |
|  WaMu Mortgage Pass-Through Certificates Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR14 1A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.208%, 11/25/36(l) | 218849 | 197099 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR9 1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.153%, 8/25/46(l) | 56421 | 51804 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** |  | 22818990 |
|  **Commercial Mortgage-Backed Securities (0.9%)** |  |  |
|  ALA Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-OANA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.894%, 6/15/40(l)§ | 193002 | 193967 |
|  BANK, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-BNK40 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.504%, 3/15/64(l) | 700000 | 650260 |
|  BBCMS Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-BID A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.405%, 10/15/37(l)§ | 325000 | 324924 |
|  Benchmark Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B9 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.016%, 3/15/52 | 800000 | 783202 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-B33 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.458%, 3/15/55 | 800000 | 739666 |
|  BFLD Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-EYP A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.415%, 10/15/35(l)§ | 800000 | 632720 |
|  BHMS Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-ATLS A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/15/42(l)§ | 151000 | 151378 |
|  BX Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-IMC E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.346%, 4/15/34(l)§ | 133619 | 130278 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-XL2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.953%, 10/15/38(l)§ | 133289 | 133206 |
|  BX Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ARIA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.164%, 10/15/36(l)§ | 600000 | 599625 |
|  Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2012-CR5 E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.692%, 12/10/45(l)§ | 151235 | 140383 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-COR1 ASB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.972%, 10/10/49 | 243109 | 241858 |
|  DOLP Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NYC A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.956%, 5/10/41§ | 1000000 | 892037 |
|  EQUS Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-EQAZ A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.170%, 10/15/38(l)§ | 477008 | 476784 |
|  Extended Stay America Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ESH A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.344%, 7/15/38(l)§ | 674621 | 674621 |
|  JP Morgan Chase Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-HTL5 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.530%, 11/15/38(l)§ | 800000 | 799250 |

---

See Notes to Portfolio of Investments.

781

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  JPMBB Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C22 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.551%, 9/15/47 IO(l) | $365359 | $126 |
|  Natixis Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-MILE A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.730%, 7/15/36(l)§ | 144306 | 137199 |
|  New Orleans Hotel Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-HNLA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.187%, 4/15/32(l)§ | 500000 | 497008 |
|  NYO Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1290 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.360%, 11/15/38(l)§ | 800000 | 797515 |
|  SFO Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-555 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.414%, 5/15/38(l)§ | 800000 | 794510 |
|  Wells Fargo Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-NXS6 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.486%, 11/15/49(l) | 275000 | 265798 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Mortgage-Backed Securities** |  | 10056315 |
|  **Corporate Bonds (10.7%)** |  |  |
|  **Communication Services (0.4%)** |  |  |
|  ***Diversified Telecommunication Services (0.2%)*** |  |  |
|  AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 3/1/29 | 800000 | 803514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/15/35 | 74000 | 71329 |
|  NBN Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/1/29§ | 500000 | 500000 |
|  |  | 1374843 |
|  ***Entertainment (0.0%)†*** |  |  |
|  Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.279%, 3/15/32(x) | 183000 | 167674 |
|  ***Media (0.1%)*** |  |  |
|  Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 1/15/29 | 907000 | 842857 |
|  Cox Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 6/15/33§ | 88000 | 89635 |
|  Discovery Communications LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 5/15/49 | 38000 | 28690 |
|  Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 1/15/27 | 100000 | 97926 |
|  Time Warner Cable LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/15/42 | 290000 | 232708 |
|  |  | 1291816 |
|  ***Wireless Telecommunication Services (0.1%)*** |  |  |
|  T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 1/15/29 | 575000 | 586411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 4/15/30 | 563000 | 551451 |
|  |  | 1137862 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 3972195 |
|  **Consumer Discretionary (0.9%)** |  |  |
|  ***Automobiles (0.6%)*** |  |  |
|  BMW US Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 3/19/27§ | 283000 | 285350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 3/21/28§ | 200000 | 202973 |
|  Honda Motor Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.436%, 7/8/28 | 275000 | 276546 |
|  Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 6/26/26§ | 500000 | 504440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 9/17/26§ | 800000 | 780065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 9/21/26§ | 200000 | 203079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 1/8/27§ | 368000 | 372113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.275%, 6/24/27§ | 63000 | 63978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 9/21/28§ | 158000 | 165081 |
|  Mercedes-Benz Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 11/15/27§ | 400000 | 406260 |
|  Nissan Motor Acceptance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 3/9/28§ | 800000 | 750024 |
|  Nissan Motor Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 9/17/30§ | 800000 | 752008 |
|  Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 9/11/27§ | 200000 | 200391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 3/27/28§ | 600000 | 607399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 9/12/28§ | 300000 | 309087 |
|  |  | 5878794 |
|  ***Hotels, Restaurants & Leisure (0.3%)*** |  |  |
|  Choice Hotels International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 12/1/29 | 900000 | 859368 |
|  Las Vegas Sands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 6/15/28 | 76000 | 77598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/15/29 | 500000 | 519847 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/14/30 | 64000 | 66631 |
|  Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 7/15/27 | 275000 | 275704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/15/30 | 500000 | 507881 |
|  Sodexo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 8/15/35§ | 270000 | 282784 |
|  Starbucks Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 2/8/27(x) | 301000 | 303833 |
|  |  | 2893646 |
|  ***Household Durables (0.0%)†*** |  |  |
|  DR Horton, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 10/15/30 | 75000 | 76456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/34 | 182000 | 183992 |
|  M.D.C. Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1/15/43 | 162000 | 153260 |
|  |  | 413708 |
|  ***Leisure Products (0.0%)†*** |  |  |
|  Hasbro, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 5/14/34 | 76000 | 79399 |
|  ***Specialty Retail (0.0%)†*** |  |  |
|  Ross Stores, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 4/15/27 | 355000 | 355807 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 9621354 |
|  **Consumer Staples (0.4%)** |  |  |
|  ***Food Products (0.1%)*** |  |  |
|  Cargill, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 10/11/32§ | 144000 | 149175 |
|  General Mills, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 1/30/27 | 583000 | 587635 |

---

See Notes to Portfolio of Investments.

782

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 1/30/30 | $203000 | $207323 |
|  Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/1/30§ | 400000 | 407143 |
|  Tyson Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 3/15/34 | 99000 | 104261 |
|  |  | 1455537 |
|  ***Tobacco (0.3%)*** |  |  |
|  Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 5/6/30 | 310000 | 297714 |
|  BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.343%, 8/2/30 | 500000 | 539069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 8/15/32 | 173000 | 179007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 10/19/32 | 21000 | 24485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 3/22/33 | 76000 | 75172 |
|  Imperial Brands Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 7/26/26§ | 400000 | 397148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 7/27/27§ | 300000 | 309273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 7/1/34§ | 297000 | 309463 |
|  Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/17/25 | 183000 | 183116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 2/13/26 | 89000 | 89174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 11/17/29 | 34000 | 35751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 2/15/33 | 309000 | 322146 |
|  |  | 2761518 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 4217055 |
|  **Energy (0.9%)** |  |  |
|  ***Energy Equipment & Services (0.0%)†*** |  |  |
|  FORESEA Holding SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 6/15/30(m) | 100613 | 97091 |
|  ***Oil, Gas & Consumable Fuels (0.9%)*** |  |  |
|  Adnoc Murban Rsc Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 9/11/29§ | 200000 | 200812 |
|  BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.017%, 11/17/27 | 177000 | 180442 |
|  Canadian Natural Resources Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/29§ | 400000 | 408907 |
|  Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 1/31/32 | 400000 | 364054 |
|  Continental Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 1/15/31§ | 616000 | 635339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 4/1/32§ | 279000 | 242120 |
|  Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 9/15/34(x) | 96000 | 95353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 7/15/41 | 210000 | 201587 |
|  Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 12/1/28 | 200000 | 210339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 9/1/34 | 297000 | 303970 |
|  Flex Intermediate Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.363%, 6/30/31§ | 400000 | 366678 |
|  Kinder Morgan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 6/1/35 | 64000 | 67015 |
|  Korea National Oil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 4/3/29§ | 500000 | 511500 |
|  Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 8/1/29 | 93000 | 94292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 1/1/32 | 300000 | 304887 |
|  Oleoducto Central SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/14/27§ | 232000 | 227743 |
|  ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 11/1/26 | 500000 | 505529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 9/1/30§ | 500000 | 541007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 1/15/31 | 44000 | 47244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 11/15/32 | 25000 | 26739 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.050%, 9/1/33 | 10000 | 10586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 10/15/35 | 170000 | 170533 |
|  Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 2/7/33 | 200000 | 231850 |
|  Pioneer Natural Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 3/29/26 | 200000 | 200955 |
|  Plains All American Pipeline LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 9/15/34 | 298000 | 306529 |
|  Saudi Arabian Oil Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 7/17/34§ | 500000 | 514375 |
|  South Bow USA Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.026%, 10/1/29 | 500000 | 505625 |
|  Suncor Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.800%, 5/15/38 | 130000 | 143031 |
|  Var Energi ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 1/15/28§ | 356000 | 377479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 11/15/32§ | 237000 | 275143 |
|  Venture Global Calcasieu Pass LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/29§ | 200000 | 191750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/1/33§ | 200000 | 180000 |
|  Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 6/1/28§ | 300000 | 310500 |
|  Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 1/15/34§ | 115000 | 120897 |
|  Williams Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 11/15/29 | 137000 | 139208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 6/30/30 | 135000 | 136020 |
|  |  | 9350038 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 9447129 |
|  **Financials (4.9%)** |  |  |
|  ***Banks (2.6%)*** |  |  |
|  ABN AMRO Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.55%), 6.575%, 10/13/26(k)§ | 400000 | 400261 |
|  Banco Bilbao Vizcaya Argentaria SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.30%), 7.883%, 11/15/34(k) | 200000 | 232062 |
|  Banco Espirito Santo SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/21/19(h)(m) | 1700000 | 502963 |
|  Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 2/23/28 | $200000 | 198050 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.25%), 5.552%, 3/14/28(k) | 400000 | 407130 |

---

See Notes to Portfolio of Investments.

783

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.00%), 4.175%, 3/24/28(k) | $200000 | $199702 |
|  Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.77%), 3.705%, 4/24/28(k) | 300000 | 298017 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.58%), 4.376%, 4/27/28(k) | 682000 | 684071 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.99%), 6.204%, 11/10/28(k) | 600000 | 625342 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.57%), 5.819%, 9/15/29(k) | 600000 | 627059 |
|  Bank of America NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.02%), 5.202%, 8/18/26(k) | 400000 | 401911 |
|  Banque Federative du Credit Mutuel SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.07%), 5.252%, 2/16/28(k)§ | 500000 | 503227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.591%, 10/16/28§ | 273000 | 275343 |
|  Barclays plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.98%), 6.224%, 5/9/34(k) | 314000 | 337309 |
|  BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.61%), 1.904%, 9/30/28(k)§ | 800000 | 761877 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.59%), 5.497%, 5/20/30(k)§ | 698000 | 721114 |
|  BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.281%, 5/30/29§ | 300000 | 309646 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.27%), 6.714%, 10/19/29(k)§ | 400000 | 424836 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.79%), 6.508%, 1/18/35(k)§ | 298000 | 316217 |
|  CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.26%), 6.037%, 6/15/35(k)§ | 302000 | 320881 |
|  Capital One NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (USD SOFR Spread- Adjusted ICE Swap Rate 5 Year + 1.73%), 5.974%, 8/9/28(k) | 250000 | 258725 |
|  Citibank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 0.59%), 4.781%, 4/30/26(k) | 300000 | 300386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.488%, 12/4/26 | 700000 | 711069 |
|  Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.28%), 3.070%, 2/24/28(k) | 500000 | 492400 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.36%), 5.174%, 2/13/30(k) | 100000 | 102646 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.34%), 4.542%, 9/19/30(k) | 302000 | 302873 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series W |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.60%), 4.000%, 12/10/25(k)(y) | 139000 | 138472 |
|  Commonwealth Bank of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.316%, 3/13/26 | 400000 | 402026 |
|  Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/5/26 | 400000 | 405672 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.40%), 5.564%, 2/28/29(k)§ | 314000 | 323396 |
|  Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.86%), 6.316%, 10/3/29(k)§ | 500000 | 526824 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.67%), 6.251%, 1/10/35(k)§ | 250000 | 263617 |
|  Danske Bank A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.75%), 4.298%, 4/1/28(k)§ | 359000 | 359196 |
|  Federation des Caisses Desjardins du Quebec |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 8/23/27§ | 267000 | 269498 |
|  HSBC Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.35%), 7.390%, 11/3/28(k) | 694000 | 736803 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.29%), 5.130%, 3/3/31(k) | 300000 | 307377 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.19%), 2.804%, 5/24/32(k) | 201000 | 182189 |
|  Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 11/28/33§ | 290000 | 330079 |
|  JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.33%), 6.070%, 10/22/27(k) | 400000 | 407867 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.20%), 5.395%, 1/23/28(k) | 500000 | 502339 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.89%), 2.182%, 6/1/28(k) | 400000 | 387600 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.45%), 5.299%, 7/24/29(k) | 500000 | 515105 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), 2.963%, 1/25/33(k) | 436000 | 398468 |
|  KBC Group NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.07%), 4.932%, 10/16/30(k)§ | 295000 | 299656 |
|  Lloyds Banking Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.38%), 5.462%, 1/5/28(k) | 241000 | 244414 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.30%), 4.976%, 8/11/33(k) | 300000 | 304519 |

---

See Notes to Portfolio of Investments.

784

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.12%), 5.376%, 5/26/30(k) | $296000 | $306138 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.08%), 5.382%, 7/10/30(k) | 500000 | 517357 |
|  Morgan Stanley Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.08%), 5.360%, 1/14/28(k) | 500000 | 502890 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.87%), 5.504%, 5/26/28(k) | 300000 | 306608 |
|  NatWest Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.85%), 7.472%, 11/10/26(k) | 359000 | 360134 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 5.583%, 3/1/28(k) | 500000 | 509175 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.35%), 3.032%, 11/28/35(k) | 297000 | 271343 |
|  Norinchukin Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.094%, 10/16/29§ | 500000 | 510668 |
|  Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.25%), 2.490%, 1/6/28(k) | 350000 | 341443 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.36%), 6.499%, 3/9/29(k) | 100000 | 104271 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.61%), 5.473%, 3/20/29(k) | 14000 | 14269 |
|  Santander UK Group Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.75%), 6.833%, 11/21/26(k) | 366000 | 367116 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.60%), 6.534%, 1/10/29(k) | 400000 | 418332 |
|  Skandinaviska Enskilda Banken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/3/30§ | 277000 | 277129 |
|  Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.30%), 6.447%, 1/12/27(k)§ | 300000 | 301450 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.50%), 5.519%, 1/19/28(k)§ | 300000 | 303910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.889%, 6/9/32§ | 300000 | 268806 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.95%), 6.691%, 1/10/34(k)§ | 500000 | 544141 |
|  Standard Chartered plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.301%, 1/9/29§ | 500000 | 520020 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.35%), 5.244%, 5/13/31(k)(x)§ | 272000 | 279823 |
|  Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.316%, 7/9/29 | 751000 | 773897 |
|  Sumitomo Mitsui Trust Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 9/10/27§ | 298000 | 300087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/9/28§ | 300000 | 308935 |
|  Toronto-Dominion Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.50%), 5.146%, 9/10/34(k) | 104000 | 105462 |
|  Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.43%), 3.196%, 6/17/27(k) | 500000 | 496519 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.74%), 5.574%, 7/25/29(k) | 500000 | 518234 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.79%), 6.303%, 10/23/29(k) | 100000 | 105858 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.50%), 3.350%, 3/2/33(k) | 462000 | 428687 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.78%), 5.499%, 1/23/35(k) | 9000 | 9374 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series BB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.45%), 3.900%, 3/15/26(k)(y) | 114000 | 112389 |
|  Wells Fargo Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.71%), 4.909%, 1/15/26(k) | 250000 | 250278 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.07%), 5.239%, 12/11/26(k) | 400000 | 403156 |
|  |  | 28858133 |
|  ***Capital Markets (0.9%)*** |  |  |
|  BGC Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 4/2/30§ | 400000 | 409310 |
|  Carlyle Finance Subsidiary LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/19/29§ | 800000 | 776027 |
|  Charles Schwab Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.17%), 4.000%, 6/1/26(k)(y) | 326000 | 322143 |
|  Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.52%), 7.146%, 7/13/27(k) | 159000 | 162376 |

---

See Notes to Portfolio of Investments.

785

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Goldman Sachs Bank USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.77%), 4.936%, 3/18/27(k) | $500000 | $501097 |
|  Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 2.01%), 6.325%, 10/28/27(k) | 700000 | 710202 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.32%), 4.937%, 4/23/28(k) | 148000 | 149698 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.27%), 5.727%, 4/25/30(k) | 300000 | 313818 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), 2.650%, 10/21/32(k) | 11000 | 9901 |
|  Israel Electric Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 8/14/28(m) | 294000 | 289155 |
|  Moody's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/5/34 | 155000 | 157969 |
|  Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.73%), 5.123%, 2/1/29(k) | 400000 | 408369 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.63%), 5.449%, 7/20/29(k) | 500000 | 516274 |
| &nbsp;&nbsp;&nbsp;&nbsp; (EURIBOR 3 Month + 1.04%), 3.790%, 3/21/30(k) | 400000 | 482347 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.18%), 2.239%, 7/21/32(k) | $89000 | 78529 |
|  Nasdaq, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 6/28/28 | 265000 | 272978 |
|  Nomura Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.709%, 1/9/26 | 868000 | 870904 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.25%), 5.415%, 7/2/27(k) | 500000 | 503716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.842%, 1/18/28 | 200000 | 206737 |
|  S&P Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 8/1/28 | 16000 | 16288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/1/29 | 71000 | 71242 |
|  Stifel Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/15/30 | 900000 | 880270 |
|  UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.55%), 5.711%, 1/12/27(k)§ | 700000 | 702501 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.60%), 6.327%, 12/22/27(k)§ | 300000 | 307450 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.06%), 4.398%, 9/23/31(k)§ | 280000 | 279170 |
|  |  | 9398471 |
|  ***Consumer Finance (0.5%)*** |  |  |
|  AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 10/29/26 | 700000 | 687932 |
|  AGFC Capital Trust I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 2.01%), 6.329%, 1/15/67(k)§ | 1070000 | 724283 |
|  Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 11/2/28 | 800000 | 742793 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.96%), 5.737%, 5/15/29(k) | 35000 | 35835 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.26%), 6.992%, 6/13/29(k) | 176000 | 185685 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.73%), 5.543%, 1/17/31(k) | 436000 | 444224 |
|  American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.33%), 6.338%, 10/30/26(k) | 400000 | 400634 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.00%), 5.098%, 2/16/28(k) | 298000 | 302002 |
|  Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/1/29§ | 500000 | 516785 |
|  Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.08%), 5.468%, 2/1/29(k) | 75000 | 76907 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.86%), 6.377%, 6/8/34(k) | 211000 | 227714 |
|  Caterpillar Financial Services Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 10/16/26 | 300000 | 301909 |
|  Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 3/8/34 | 299000 | 300298 |
|  Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.68%), 5.450%, 3/6/31(k) | 91000 | 92606 |
|  Toyota Motor Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 8/9/29 | 500000 | 506679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 9/3/32 | 277000 | 278523 |
|  |  | 5824809 |
|  ***Financial Services (0.3%)*** |  |  |
|  Essent Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7/1/29 | 500000 | 523062 |
|  Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 7/1/29 | 409000 | 396933 |
|  Lseg US Fin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 3/28/27§ | 500000 | 505060 |
|  Mastercard, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 1/15/35 | 213000 | 212327 |
|  National Rural Utilities Cooperative Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 6/15/29 | 200000 | 207200 |
|  Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.91%), 6.557%, 10/18/27(k)§ | 400000 | 408848 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.29%), 2.972%, 2/16/28(k)§ | 385000 | 377981 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.65%), 5.537%, 7/14/36(k)§ | 274000 | 281154 |
|  |  | 2912565 |
|  ***Insurance (0.6%)*** |  |  |
|  Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.349%, 7/9/27§ | 500000 | 509080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.033%, 7/17/30§ | 360000 | 365221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.322%, 11/13/31§ | 600000 | 613553 |
|  Corebridge Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 9/19/28§ | 400000 | 418537 |

---

See Notes to Portfolio of Investments.

786

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Marsh & McLennan Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 3/15/30 | $200000 | $203323 |
|  MassMutual Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/10/26§ | 600000 | 601258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 12/7/27§ | 500000 | 510634 |
|  MetLife Capital Trust IV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 12/15/37§ | 192000 | 213360 |
|  Mutual of Omaha Cos. Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 4/9/27§ | 500000 | 508388 |
|  Pacific Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/28/29§ | 500000 | 504386 |
|  Pricoa Global Funding I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 8/27/27§ | 500000 | 503188 |
|  Principal Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 8/16/26§ | 800000 | 780751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 1/25/29§ | 204000 | 209109 |
|  Swiss Re Finance Luxembourg SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.58%), 5.000%, 4/2/49(k)(m) | 200000 | 201083 |
|  |  | 6141871 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 53135849 |
|  **Health Care (0.4%)** |  |  |
|  ***Health Care Providers & Services (0.2%)*** |  |  |
|  Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/15/29 | 400000 | 388196 |
|  Cigna Group (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/15/28 | 165000 | 165881 |
|  CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 3/25/28 | 12000 | 12006 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 6/1/34 | 202000 | 210683 |
|  HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/15/26 | 47000 | 47094 |
|  Ochsner LSU Health System of North Louisiana |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.510%, 5/15/31 | 240000 | 202258 |
|  Quest Diagnostics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/15/29 | 500000 | 507713 |
|  UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/15/29 | 600000 | 601929 |
|  |  | 2135760 |
|  ***Pharmaceuticals (0.2%)*** |  |  |
|  Bayer US Finance II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/15/25§ | 1000000 | 998799 |
|  Bayer US Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 11/21/26§ | 200000 | 203372 |
|  Roche Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.203%, 9/9/29§ | 298000 | 298874 |
|  Takeda US Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 7/7/35 | 275000 | 279784 |
|  |  | 1780829 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 3916589 |
|  **Industrials (0.7%)** |  |  |
|  ***Aerospace & Defense (0.2%)*** |  |  |
|  Boeing Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.196%, 2/4/26 | 400000 | 396952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.298%, 5/1/29 | 100000 | 106028 |
|  General Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 1/29/36 | 113000 | 114078 |
|  HEICO Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 8/1/28 | 300000 | 307928 |
|  Huntington Ingalls Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.043%, 8/16/28 | 800000 | 750794 |
|  Rolls-Royce plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/15/27§ | 500000 | 512987 |
|  |  | 2188767 |
|  ***Air Freight & Logistics (0.0%)†*** |  |  |
|  GXO Logistics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 5/6/29 | 400000 | 419730 |
|  ***Building Products (0.0%)†*** |  |  |
|  Amrize Finance US LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 4/7/30§ | 300000 | 306103 |
|  ***Commercial Services & Supplies (0.0%)†*** |  |  |
|  Republic Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 7/15/30 | 283000 | 289817 |
|  ***Electrical Equipment (0.0%)†*** |  |  |
|  LG Energy Solution Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 4/2/30§ | 282000 | 288641 |
|  ***Ground Transportation (0.1%)*** |  |  |
|  ENA Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/19/48§ | 206000 | 155874 |
|  ERAC USA Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 5/1/28§ | 90000 | 91150 |
|  Lima Metro Line 2 Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 4/5/36§ | 155807 | 150011 |
|  Penske Truck Leasing Co. LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 3/30/29§ | 500000 | 514155 |
|  Ryder System, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 3/15/29 | 237000 | 245568 |
|  |  | 1156758 |
|  ***Machinery (0.1%)*** |  |  |
|  Daimler Truck Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/14/26§ | 800000 | 779910 |
|  Flowserve Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 1/15/32 | 202000 | 178806 |
|  Parker-Hannifin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/14/29 | 121000 | 117508 |
|  |  | 1076224 |
|  ***Passenger Airlines (0.0%)†*** |  |  |
|  AS Mileage Plan IP Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.021%, 10/20/29§ | 41000 | 41034 |
|  ***Professional Services (0.1%)*** |  |  |
|  Equifax, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 9/15/29 | 500000 | 507944 |
|  ***Trading Companies & Distributors (0.2%)*** |  |  |
|  Aircastle Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 6/15/26 | 5000 | 4993 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 2/15/29§ | 64000 | 66687 |
|  Aviation Capital Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 1/30/26§ | 192000 | 190320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 9/20/26§ | 62000 | 60568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 4/14/27§ | 20000 | 20090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/1/27§ | 23000 | 22574 |

---

See Notes to Portfolio of Investments.

787

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/25/28§ | $500000 | $531785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 7/15/29§ | 400000 | 409479 |
|  TTX Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/25/26§ | 300000 | 303773 |
|  |  | 1610269 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 7885287 |
|  **Information Technology (0.4%)** |  |  |
|  ***Communications Equipment (0.0%)†*** |  |  |
|  Cisco Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/24/30 | 283000 | 290367 |
|  ***Electronic Equipment, Instruments & Components (0.1%)*** |  |  |
|  Arrow Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 8/21/29 | 500000 | 511770 |
|  CDW LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 3/1/30 | 500000 | 509128 |
|  |  | 1020898 |
|  ***IT Services (0.0%)†*** |  |  |
|  International Business Machines Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/6/26 | 251000 | 251563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 7/27/52 | 264000 | 239431 |
|  |  | 490994 |
|  ***Semiconductors & Semiconductor Equipment (0.1%)*** |  |  |
|  Applied Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/15/31 | 281000 | 278296 |
|  Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 7/12/27 | 113000 | 114968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 2/15/28 | 46000 | 46108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 7/12/29 | 200000 | 205883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.926%, 5/15/37§ | 144000 | 143614 |
|  |  | 788869 |
|  ***Software (0.1%)*** |  |  |
|  Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/6/28 | 200000 | 201286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 9/27/29 | 500000 | 498545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 5/6/30 | 200000 | 202637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/3/35 | 236000 | 241782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 9/26/35 | 33000 | 33149 |
|  |  | 1177399 |
|  ***Technology Hardware, Storage & Peripherals (0.1%)*** |  |  |
|  Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 8/8/62 | 202000 | 162301 |
|  Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/1/35 | 227000 | 234503 |
|  Hewlett Packard Enterprise Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 9/25/27 | 123000 | 123478 |
|  |  | 520282 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 4288809 |
|  **Materials (0.2%)** |  |  |
|  ***Chemicals (0.1%)*** |  |  |
|  Kraton Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/15/27§ | 500000 | 507500 |
|  LYB International Finance III LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 5/15/35 | 46000 | 47857 |
|  |  | 555357 |
|  ***Containers & Packaging (0.1%)*** |  |  |
|  Berry Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.570%, 1/15/26 | 800000 | 792700 |
|  WRKCo., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/15/28 | 280000 | 278502 |
|  |  | 1071202 |
|  ***Metals & Mining (0.0%)†*** |  |  |
|  Freeport Indonesia PT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.763%, 4/14/27§ | 215000 | 215430 |
|  Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.338%, 4/4/27§ | 81000 | 82286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.907%, 4/1/28§ | 102000 | 103571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.186%, 4/1/30§ | 45000 | 46317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/6/33§ | 67000 | 73785 |
|  |  | 521389 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 2147948 |
|  **Real Estate (0.4%)** |  |  |
|  ***Diversified REITs (0.1%)*** |  |  |
|  GLP Capital LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/15/31 | 66000 | 63204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 1/15/32 | 176000 | 158045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/15/33 | 441000 | 441498 |
|  |  | 662747 |
|  ***Health Care REITs (0.0%)†*** |  |  |
|  Omega Healthcare Investors, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 2/1/31 | 700000 | 648938 |
|  ***Office REITs (0.1%)*** |  |  |
|  COPT Defense Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 3/15/26 | 700000 | 691950 |
|  ***Specialized REITs (0.2%)*** |  |  |
|  American Tower Corp. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 3/15/27 | 80000 | 79373 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 11/15/28 | 700000 | 731609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 2/15/29 | 114000 | 117184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 6/15/30 | 54000 | 48685 |
|  Crown Castle, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 6/15/26 | 800000 | 796498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 6/1/29 | 68000 | 70607 |
|  EPR Properties (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 11/15/31 | 800000 | 738333 |
|  |  | 2582289 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 4585924 |
|  **Utilities (1.1%)** |  |  |
|  ***Electric Utilities (0.7%)*** |  |  |
|  Avangrid, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 6/1/29 | 900000 | 883545 |
|  CenterPoint Energy Houston Electric LLC Series AQ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 8/15/35 | 80000 | 79520 |
|  Chile Electricity Lux Mpc II Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.672%, 10/20/35§ | 200000 | 206046 |
|  Comision Federal de Electricidad |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.688%, 5/15/29§ | 222000 | 218697 |
|  Duke Energy Carolinas NC Storm Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A-2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.617%, 7/1/43 | 154000 | 121793 |
|  Edison International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 3/15/30 | 300000 | 311707 |

---

See Notes to Portfolio of Investments.

788

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 9/30/28§ | $279000 | $278393 |
|  Eversource Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/1/27 | 500000 | 504485 |
|  Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 6/15/34 | 97000 | 101117 |
|  IPALCO Enterprises, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/1/30 | 700000 | 684584 |
|  Kallpa Generacion SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 1/30/32§ | 200000 | 208896 |
|  NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.830%, 6/12/30 | 500000 | 364653 |
|  Niagara Mohawk Power Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.647%, 10/3/30§ | $275000 | 276197 |
|  NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.734%, 10/15/30§ | 51000 | 50908 |
|  Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 1/1/26 | 600000 | 597973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 3/1/26 | 600000 | 595533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 5/15/29 | 256000 | 264205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 10/15/32 | 400000 | 395240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 6/15/33 | 100000 | 107234 |
|  Public Service Co. of Colorado |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 9/15/35 | 277000 | 280753 |
|  Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 6/1/29 | 500000 | 508314 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/1/48 | 100000 | 76236 |
|  Swepco Storm Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.880%, 9/1/39 | 386760 | 388788 |
|  Terraform Global Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 3/1/26§ | 8000 | 7920 |
|  Virginia Electric and Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 9/15/35 | 237000 | 235930 |
|  Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 12/30/26§ | 6000 | 6044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 10/15/33§ | 232000 | 258748 |
|  |  | 8013459 |
|  ***Gas Utilities (0.1%)*** |  |  |
|  National Fuel Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 3/1/31 | 700000 | 639238 |
|  ***Independent Power and Renewable Electricity Producers (0.0%)†*** |  |  |
|  Alexander Funding Trust II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.467%, 7/31/28§ | 121000 | 129436 |
|  FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 1/31/41§ | 238712 | 253560 |
|  |  | 382996 |
|  ***Multi-Utilities (0.3%)*** |  |  |
|  Abu Dhabi National Energy Co. PJSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/9/31§ | 500000 | 500940 |
|  Ameren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/15/29 | 500000 | 511097 |
|  Berkshire Hathaway Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 4/1/36 | 229000 | 248374 |
|  DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 3/1/29 | 500000 | 512950 |
|  National Grid plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.602%, 6/12/28 | 300000 | 310218 |
|  Public Service Enterprise Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 4/1/29 | 500000 | 515777 |
|  WEC Energy Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 10/15/27 | 600000 | 568551 |
|  |  | 3167907 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 12203600 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  | 115421739 |
|  **Foreign Government Securities (1.0%)** |  |  |
|  Baiterek National Managing Holding JSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 5/8/28§ | 200000 | 203420 |
|  Commonwealth of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 6/21/35(m) | 800000 | 464640 |
|  Federative Republic of Brazil |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 3/15/34 | $500000 | 510250 |
|  Japan Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/20/44 | 100000000 | 619104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 12/20/54 | 80000000 | 460811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 6/20/55 | 40000000 | 255962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 3/20/64 | 44000000 | 227726 |
|  Japan International Cooperation Agency |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 4/27/27 | $900000 | 882068 |
|  Kingdom of Saudi Arabia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1/16/30§ | 500000 | 510315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/18/53§ | 500000 | 451250 |
|  Province of Ontario |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 12/2/34 | 400000 | 291019 |
|  Republic of Colombia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 4/15/31 | $235000 | 204568 |
|  Republic of Panama |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.375%, 4/1/29 | 190000 | 216220 |
|  Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 8/12/31(m) | 1041000 | 331737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 8/12/32§ | 2300000 | 701794 |
|  Republic of South Africa |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.100%, 11/19/36§ | $400000 | 417200 |
|  Romania Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 9/16/30§ | 256000 | 260800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 4/14/33(m) | 800000 | 734472 |
|  State of Israel Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/12/34 | $500000 | 513438 |
|  State of Kuwait |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.016%, 10/9/28§ | 200000 | 200000 |
|  State of Qatar |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.103%, 4/23/48§ | 800000 | 793520 |
|  U.K. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 7/31/54(m) | 955000 | 1074872 |
|  United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 3/22/33 | $281000 | 281000 |

---

See Notes to Portfolio of Investments.

789

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value (Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 5/13/37 | $400000 | $431800 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Foreign Government Securities** |  | 11037986 |
|  **Mortgage-Backed Securities (10.9%)** |  |  |
|  FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.170%, 4/1/28 | 300000 | 301505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.380%, 5/1/28 | 900000 | 903125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.981%, 11/1/31(l) | 664 | 673 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1/1/35 | 17507 | 18157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 7/1/35 | 12228 | 12654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/1/44 | 117751 | 115001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/1/46 | 183971 | 179800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/1/48 | 119295 | 118070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/1/48 | 188096 | 186165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/1/48 | 64891 | 65838 |
|  FHLMC UMBS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/1/49 | 231627 | 215388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/1/49 | 224848 | 208981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/1/49 | 87648 | 81449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/1/50 | 326052 | 303193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 6/1/51 | 174939 | 142272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/1/52 | 903900 | 736521 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/52 | 576927 | 513568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 4/1/52 | 1030999 | 882996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/1/52 | 628713 | 554755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/1/52 | 87523 | 87338 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/1/53 | 51981 | 50635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/1/53 | 365959 | 364547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/1/53 | 674073 | 671472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/53 | 284983 | 277338 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/1/53 | 827802 | 805077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/1/53 | 170398 | 172235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/1/54 | 3624700 | 3523870 |
|  FNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.470%, 1/1/28(l) | 634 | 638 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.207%, 3/1/33(l) | 4449 | 4343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.842%, 1/1/36(l) | 11423 | 11759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.460%, 2/1/37(l) | 36913 | 37844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.319%, 12/1/40(l) | 621 | 628 |
|  FNMA UMBS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/1/30 | 2342 | 2286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 8/1/31 | 122739 | 118699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/1/31 | 179636 | 173518 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/1/31 | 75987 | 73339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 1/1/32 | 184331 | 178435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/1/32 | 7442 | 7160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/1/33 | 15156 | 15627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 7/1/33 | 14397 | 14845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/1/34 | 8127 | 8392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5/1/34 | 5755 | 5944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/1/34 | 23967 | 24789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/1/35 | 88075 | 91054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/1/35 | 3908 | 3921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/1/35 | 7008 | 7132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/1/36 | 7284 | 7412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/1/39 | 20879 | 21276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/1/40 | 72266 | 70617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 3/1/41 | 11161 | 11170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/41 | 1020 | 1022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/1/42 | 46595 | 44358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/1/42 | 517328 | 492201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/1/43 | 87075 | 82696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/1/43 | 304974 | 289588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/1/43 | 276285 | 268663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/1/45 | 26120 | 23796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/1/48 | 485057 | 452414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/1/48 | 219781 | 217250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/1/49 | 237051 | 220283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/1/49 | 190939 | 177433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 4/1/51 | 1638615 | 1441634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 7/1/51 | 970696 | 788218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/1/51 | 1355058 | 1099054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 1/1/52 | 291145 | 249180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/1/52 | 686791 | 611581 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/1/52 | 633334 | 542046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/52 | 883099 | 786116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/1/52 | 178569 | 163315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 4/1/52 | 631258 | 540161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/1/52 | 873511 | 747486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 3/1/53 | 57163 | 55683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/1/53 | 666136 | 664191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/1/53 | 415682 | 406296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/1/53 | 488025 | 486142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/1/53 | 421635 | 419400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/1/54 | 1645394 | 1599711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/1/54 | 177644 | 179393 |
|  FNMA/FHLMC UMBS, 30 Year, Single Family |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/25/55 TBA | 400000 | 388125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/25/55 TBA | 2738786 | 2762109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/25/55 TBA | 1473964 | 1505746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/25/55 TBA | 234639 | 242485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/25/55 TBA | 12800000 | 11246500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/25/55 TBA | 12000000 | 10966406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/25/55 TBA | 20707000 | 19517157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/25/55 TBA | 10200000 | 10113141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/25/55 TBA | 22200000 | 22373438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/25/55 TBA | 4620000 | 4718716 |
|  GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 7/20/27(l) | 125 | 126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/15/43 | 103941 | 95355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/15/45 | 81634 | 73869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/20/46 | 104445 | 94764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/15/49 | 68721 | 63212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/15/50 | 14450 | 13282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/15/50 | 126951 | 116694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/20/53 | 548047 | 555260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/20/54 | 29817 | 27213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/20/54 | 1004217 | 916349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/20/55 | 189517 | 172934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/15/55 TBA | 523093 | 467351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/15/55 TBA | 1002723 | 972719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/55 TBA | 1875000 | 1865625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/15/55 TBA | 496000 | 499759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/15/55 TBA | 2969544 | 3020583 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Mortgage-Backed Securities** |  | 118221680 |
|  **Municipal Bonds (0.2%)** |  |  |
|  Louisiana Local Government Environmental Facilities & Community Development Authority Systems, Series 2023 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.198%, 12/1/39 | 500000 | 516514 |
|  Sales Tax Securitization Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.007%, 1/1/33 | 800000 | 730421 |
|  State Board of Administration Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.705%, 7/1/27 | 288000 | 277292 |

---

See Notes to Portfolio of Investments.

790

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Texas Natural Gas Securitization Finance Corp., Revenue Bonds, Series 2023 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.169%, 4/1/41 | $400000 | $407474 |
|  University of California |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.071%, 5/15/51 | 335000 | 223913 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Municipal Bonds** |  | 2155614 |
|  **U.S. Government Agency Securities (40.4%)** |  |  |
|  FFCB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 3/5/26 | 8000000 | 8024042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 6/23/26 | 20000000 | 20074670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 7/6/26 | 10000000 | 10041233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 7/17/26 | 3010000 | 3030414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/20/27 | 30063000 | 30471147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 4/30/29 | 5957000 | 6172276 |
|  FHLB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 9/11/26 | 20000000 | 19664320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/17/26 | 10500000 | 10607094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 1/15/27 | 30300000 | 30530544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/30/28 | 615000 | 620809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/16/28 | 12910000 | 12758875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 12/8/28 | 25290000 | 26084245 |
|  FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.800%, 10/28/26 | 3000000 | 2908407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 9/15/29 | 39000000 | 43346800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 3/15/31 | 2510000 | 2865674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7/15/32 | 47700000 | 54139786 |
|  FNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 9/24/26 | 25816000 | 25365415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 5/15/29 | 25664000 | 27872913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 5/15/30 | 10000000 | 11488188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 8/5/30 | 30000000 | 26196855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 11/15/30 | 14000000 | 15830926 |
|  Tennessee Valley Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3/15/28 | 20000000 | 20144600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 5/1/30 | 13000000 | 14818692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 9/15/31 | 6700000 | 5828859 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 7/15/33 | 7658000 | 7925740 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Government Agency Securities** |  | 436812524 |
|  **U.S. Treasury Obligations (36.4%)** |  |  |
|  U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/39 | 200000 | 196781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/15/39 | 200000 | 198189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/15/40 | 200000 | 203314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 11/15/40 | 7700000 | 5019595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/15/41 | 2100000 | 1474786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 8/15/41 | 463600 | 314168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/15/41 | 94000 | 85334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/15/41 | 422500 | 296281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 2/15/42 | 238900 | 176863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/15/42 | 1010500 | 818901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 5/15/42 | 2570500 | 2157562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/42 | 720400 | 665723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 2/15/43 | 274500 | 248951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 5/15/43 | 700000 | 633722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/15/43 | 363600 | 316897 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/15/43 | 680100 | 655869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 11/15/43 | 421000 | 372481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/15/43 | 1008700 | 1018628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 2/15/44 | 1055000 | 914760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/15/44 | 94500 | 92378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 5/15/44 | 500000 | 416767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 5/15/44 | 991200 | 983321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 8/15/44 | 3877600 | 3101998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/15/44 | 483700 | 378060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 8/15/45 | 2700000 | 2048650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 8/15/45 | 2900000 | 2962078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/15/47 | 1800000 | 1368487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 8/15/47 | 100000 | 72391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/15/48 | 800000 | 603455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/15/48 | 200000 | 150178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 11/15/48 | 400000 | 320894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/15/49 | 300000 | 224363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/49 | 200000 | 145758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/15/49 | 2000000 | 1274781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 11/15/49 | 400000 | 261380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/15/50 | 1100000 | 656914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 8/15/50 | 300000 | 150609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 11/15/50 | 1300000 | 696718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/15/51 | 3291000 | 1877862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/51 | 1230000 | 790831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 8/15/51 | 2765700 | 1618799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 11/15/51 | 625000 | 353192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/52 | 571800 | 407611 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5/15/53 | 291200 | 240276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 8/15/53 | 558200 | 504116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/15/54 | 780100 | 719531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/54 | 214100 | 205997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 8/15/55 | 1325000 | 1328520 |
|  U.S. Treasury Inflation Linked Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 2/15/45 TIPS | 548744 | 407899 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 2/15/46 TIPS | 136339 | 104809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 2/15/47 TIPS | 133827 | 98551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 2/15/49 TIPS | 128379 | 94441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 2/15/50 TIPS | 376959 | 222072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 2/15/51 TIPS | 1240810 | 685734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 2/15/52 TIPS | 232096 | 125402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 2/15/53 TIPS | 217354 | 173520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/15/54 TIPS | 263150 | 242427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 2/15/55 TIPS | 204752 | 199610 |
|  U.S. Treasury Inflation Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 4/15/28 TIPS | 8400678 | 8431005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 7/15/29 TIPS | 1896401 | 1839056 |
|  U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 6/30/27 | 8153500 | 8169563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/30/27 | 1767800 | 1777471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/15/27 | 49585100 | 50004724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/31/27 | 2565700 | 2580233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/28 | 3202000 | 3292738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/28 | 3557600 | 3685169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 11/15/28 | 2448000 | 2411183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/28 | 22324900 | 22813215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/28 | 22719900 | 22798104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/31/29 | 7988300 | 8075667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/28/29 | 596700 | 608212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/30/29 | 1964000 | 2026762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/31/29 | 6357400 | 6536812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 6/30/29 | 1393200 | 1421208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 7/31/29 | 9142800 | 8799912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/31/29 | 6959300 | 7038329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 8/15/29 | 10294600 | 9551882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/31/29 | 5301100 | 5362370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/30/29 | 1305800 | 1314552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 5/15/30 | 18349500 | 15955116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/31/30 | 6480000 | 6448721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 8/31/30 | 5749600 | 5847967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/30 | 6353000 | 6605175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/30 | 10616400 | 10608117 |

---

See Notes to Portfolio of Investments.

791

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/31/31 | $3807200 | $3848542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/28/31 | 12231400 | 12510527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/31/32 | 360000 | 359020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/33 | 29646200 | 30649033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/15/34 | 20585800 | 20530636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/15/34 | 12538200 | 12828270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/34 | 10910200 | 10744278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/15/34 | 9793700 | 9904859 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/15/35 | 5965000 | 6199288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/35 | 12176100 | 12288108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 8/15/35 | 6980000 | 7036712 |
|  U.S. Treasury STRIPS Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 8/15/40 STRIPS | 300000 | 148111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 5/15/41 STRIPS | 100000 | 47426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 8/15/41 STRIPS | 200000 | 93234 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 393270492 |
|  **Total Long-Term Debt Securities (104.8%)***<br>(Cost $1,141,626,856)* |  | 1133688092 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Commercial Paper (0.2%)** |  |  |
|  AES Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.49%, 10/7/25(n)(p)§ | 500000 | 499563 |
|  Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 10/21/25(n)(p)§ | 500000 | 498650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/23/25(n)(p)§ | 750000 | 747778 |
|  Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 10/16/25(n)(p)§ | 250000 | 249519 |
|  Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.26%, 11/19/25(n)(p)§ | 500000 | 497060 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Paper** |  | 2492570 |
|  **Foreign Government Treasury Bills (0.0%)†** |  |  |
|  Federative Republic of Brazil |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 4/1/26(p) | BRL 1,800,000 | 315855 |
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  **Investment Companies (0.1%)** |  |  |
|  Dreyfus Treasury Obligations Cash Management Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00% (7 day yield) (xx) | 100000 | 100000 |
|  Invesco Government & Agency Portfolio, Institutional Shares |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05% (7 day yield) (xx) | 505690 | 505690 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 605690 |
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  **U.S. Treasury Obligations (1.3%)** |  |  |
|  U.S. Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/23/25(p) | $2100000 | 2094812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.92%, 11/12/25(p) | 1000000 | 995342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.93%, 11/18/25(p) | 200000 | 198937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.86%, 12/4/25(p) | 1186200 | 1177992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.82%, 12/11/25(p) | 9213400 | 9143489 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 12/18/25(p) | 500000 | 495816 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 14106388 |
|  **Total Short-Term Investments (1.6%)***<br>(Cost $17,516,065)* |  | 17520503 |
|  **Total Investments in Securities (106.4%)***<br>(Cost $1,159,142,921)* |  | 1151208595 |
|  **Other Assets Less Liabilities (-6.4%)** |  | (68779561) |
|  **Net Assets (100%)** |  | $1082429034 |

---

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

---

| | |
|:---|:---|
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At September 30, 2025, the market value of these securities amounted to $88,717,467 or 8.2% of net assets.*  |

---

*(e)* *Step Bond - Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of September 30, 2025. Maturity date disclosed is the ultimate maturity date.* 

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

*(k)* *Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of September 30, 2025.* 

*(l)* *Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of September 30, 2025.* 

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $4,580,134 or 0.4% of net assets.* 

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

*(p)* *Yield to maturity.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(y)* *Securities are perpetual and, thus, do not have a predetermined maturity date. The coupon rate for these securities are fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $588,990. This was collateralized by cash of $605,690 which was subsequently invested in investment companies.* 

See Notes to Portfolio of Investments.

792

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*Glossary:* 

*ARM — Adjustable Rate Mortgage* 

*AUD — Australian Dollar* 

*BRL — Brazilian Real* 

*CAD — Canadian Dollar* 

*CME — Chicago Mercantile Exchange* 

*CLO — Collateralized Loan Obligation* 

*DKK — Denmark Krone* 

*EUR — European Currency Unit* 

*EURIBOR — Euro Interbank Offered Rate* 

*FFCB — Federal Farm Credit Bank* 

*FHLB — Federal Home Loan Bank* 

*FHLMC — Federal Home Loan Mortgage Corp.* 

*FNMA — Federal National Mortgage Association* 

*GBP — British Pound* 

*GNMA — Government National Mortgage Association* 

*ICE — Intercontinental Exchange* 

*IO — Interest Only* 

*JPY — Japanese Yen* 

*MXN — Mexican Peso* 

*MYR — Malaysian Ringgit* 

*OAT — Obligations Assimilables du Trésor* 

*PEN — Peruvian Sol* 

*REIT — Real Estate Investment Trust* 

*REMIC — Real Estate Mortgage Investment Conduit* 

*SOFR — Secured Overnight Financing Rate* 

*STACR — Structured Agency Credit Risk* 

*STRIPS — Separate Trading of Registered Interest and Principal Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities.* 

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

*TIPS — Treasury Inflation Protected Security* 

*TWD — New Taiwan Dollar* 

*UMBS — Uniform Mortgage-Backed Securities* 

*USD — United States Dollar* 

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  Australia 10 Year Bond | 10 | 12/2025 | AUD | 750048 | (2151) |
|  Canada 10 Year Bond | 13 | 12/2025 | CAD | 1143910 | 23840 |
|  Euro-Bund | 4 | 12/2025 | EUR | 603790 | 3542 |
|  Euro-OAT | 20 | 12/2025 | EUR | 2849419 | 27857 |
|  Long Gilt | 18 | 12/2025 | GBP | 2199073 | 10766 |
|  U.S. Treasury 2 Year Note | 7 | 12/2025 | USD | 1458789 | (1376) |
|  U.S. Treasury 5 Year Note | 164 | 12/2025 | USD | 17908031 | 54223 |
|  U.S. Treasury 10 Year Note | 92 | 12/2025 | USD | 10350000 | 26675 |
|  U.S. Treasury 10 Year Ultra |  |  |  |  |  |
|  Note | 6 | 12/2025 | USD | 690469 | 6663 |
|  U.S. Treasury Ultra Bond | 51 | 12/2025 | USD | 6123188 | 164896 |
|  |  |  |  |  | 314935 |
|  **Short Contracts** |  |  |  |  |  |
|  Euro-BTP | (4) | 12/2025 | EUR | (562793) | (3932) |
|  U.S. Treasury 10 Year Ultra |  |  |  |  |  |
|  Note | (141) | 12/2025 | USD | (16226016) | (154274) |
|  U.S. Treasury Long Bond | (44) | 12/2025 | USD | (5130125) | (113842) |
|  U.S. Treasury Ultra Bond | (11) | 12/2025 | USD | (1320687) | (39461) |
|  |  |  |  |  | (311509) |
|  |  |  |  |  | 3426 |

---

See Notes to Portfolio of Investments.

793

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  BRL | 5865528 | USD | 1047452 | Goldman Sachs Bank USA<sup>\*\*</sup> | 10/2/2025 | 54625 |
|  EUR | 414000 | USD | 484663 | Goldman Sachs Bank USA | 10/2/2025 | 1393 |
|  JPY | 54515127 | USD | 363968 | Bank of America | 10/2/2025 | 4664 |
|  USD | 653938 | CAD | 903699 | JPMorgan Chase Bank | 10/2/2025 | 4589 |
|  USD | 683704 | JPY | 100313529 | Bank of America | 10/2/2025 | 5382 |
|  USD | 485980 | JPY | 71344228 | Barclays Bank plc | 10/2/2025 | 3550 |
|  USD | 313196 | TWD | 9332000 | Barclays Bank plc<sup>\*\*</sup> | 10/20/2025 | 6553 |
|  USD | 791237 | JPY | 116537175 | Barclays Bank plc | 11/4/2025 | 259 |
|  BRL | 4645906 | USD | 857827 | Goldman Sachs Bank USA<sup>\*\*</sup> | 12/2/2025 | 2445 |
|  MXN | 1979000 | USD | 102223 | Goldman Sachs Bank USA | 12/17/2025 | 4951 |
|  MXN | 13908455 | USD | 746642 | JPMorgan Chase Bank | 12/17/2025 | 6579 |
|  USD | 283118 | MYR | 1187398 | Barclays Bank plc<sup>\*\*</sup> | 12/17/2025 | 207 |
|  USD | 107978 | BRL | 600000 | Goldman Sachs Bank USA<sup>\*\*</sup> | 4/2/2026 | 99 |
|  **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** |  | 95296 |
|  BRL | 600000 | USD | 112803 | Goldman Sachs Bank USA<sup>\*\*</sup> | 10/2/2025 | (69) |
|  EUR | 643000 | USD | 755162 | Barclays Bank plc | 10/2/2025 | (248) |
|  USD | 439083 | AUD | 672271 | Barclays Bank plc | 10/2/2025 | (5759) |
|  USD | 1153304 | BRL | 6380797 | Goldman Sachs Bank USA<sup>\*\*</sup> | 10/2/2025 | (45586) |
|  USD | 135268 | DKK | 862898 | JPMorgan Chase Bank | 10/2/2025 | (449) |
|  USD | 5304169 | EUR | 4535279 | JPMorgan Chase Bank | 10/2/2025 | (20475) |
|  USD | 3064431 | GBP | 2279114 | Barclays Bank plc | 10/2/2025 | (750) |
|  USD | 444404 | AUD | 672271 | Barclays Bank plc | 11/4/2025 | (656) |
|  USD | 649302 | CAD | 903148 | JPMorgan Chase Bank | 11/4/2025 | (762) |
|  USD | 135542 | DKK | 860970 | JPMorgan Chase Bank | 11/4/2025 | (204) |
|  USD | 4085806 | EUR | 3478279 | Barclays Bank plc | 11/4/2025 | (6468) |
|  USD | 3065483 | GBP | 2279114 | JPMorgan Chase Bank | 11/4/2025 | (232) |
|  USD | 363968 | JPY | 54326373 | Bank of America | 11/4/2025 | (4764) |
|  USD | 975275 | PEN | 3459106 | Bank of America<sup>\*\*</sup> | 12/17/2025 | (18994) |
|  USD | 210713 | BRL | 1200000 | Goldman Sachs Bank USA<sup>\*\*</sup> | 4/2/2026 | (5044) |
|  **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** |  | (110460) |
|  **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** |  | (15164) |

---

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

See Notes to Portfolio of Investments.

794

------

**EQ ADVISORS TRUST** 

EQ/QUALITY BOND PLUS PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates, prepayment<br>speeds, credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in determining<br>the fair value of<br>investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Asset-Backed Securities** | $— | $23892752 | $— | $23892752 |
|  **Collateralized Mortgage Obligations** |  | 22818990 |  | 22818990 |
|  **Commercial Mortgage-Backed Securities** |  | 10056315 |  | 10056315 |
|  **Corporate Bonds** |  |  |  |  |
|  Communication Services |  | 3972195 |  | 3972195 |
|  Consumer Discretionary |  | 9621354 |  | 9621354 |
|  Consumer Staples |  | 4217055 |  | 4217055 |
|  Energy |  | 9447129 |  | 9447129 |
|  Financials |  | 53135849 |  | 53135849 |
|  Health Care |  | 3916589 |  | 3916589 |
|  Industrials |  | 7885287 |  | 7885287 |
|  Information Technology |  | 4288809 |  | 4288809 |
|  Materials |  | 2147948 |  | 2147948 |
|  Real Estate |  | 4585924 |  | 4585924 |
|  Utilities |  | 12203600 |  | 12203600 |
|  **Foreign Government Securities** |  | 11037986 |  | 11037986 |
|  **Forward Currency Contracts** |  | 95296 |  | 95296 |
|  **Futures** | 318462 |  |  | 318462 |
|  **Mortgage-Backed Securities** |  | 118221680 |  | 118221680 |
|  **Municipal Bonds** |  | 2155614 |  | 2155614 |
|  **Short-Term Investments** |  |  |  |  |
|  Commercial Paper |  | 2492570 |  | 2492570 |
|  Foreign Government Treasury Bill |  | 315855 |  | 315855 |
|  Investment Companies | 605690 |  |  | 605690 |
|  U.S. Treasury Obligations |  | 14106388 |  | 14106388 |
|  **U.S. Government Agency Securities** |  | 436812524 |  | 436812524 |
|  **U.S. Treasury Obligations** |  | 393270492 |  | 393270492 |
|  **Total Assets** | $**924152** | $**1150698201** | $**—** | $**1151622353** |
|  **Liabilities:** |  |  |  |  |
|  **Forward Currency Contracts** | $— | $(110460) | $— | $(110460) |
|  **Futures** | (315036) |  |  | (315036) |
|  **Total Liabilities** | $**(315036)** | $**(110460)** | $**—** | $**(425496)** |
|  **Total** | $**609116** | $**1150587741** | $**—** | $**1151196857** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $14534164 |
|  Aggregate gross unrealized depreciation | (33281596) |
|  Net unrealized depreciation | $(18747432) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1169944289 |

---

See Notes to Portfolio of Investments.

795

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (2.8%)** |  |  |
|  ***Diversified Telecommunication Services (0.5%)*** |  |  |
|  Anterix, Inc.\* | 6600 | $141702 |
|  ATN International, Inc. | 8530 | 127694 |
|  Bandwidth, Inc., Class A\* | 17680 | 294726 |
|  Cogent Communications Holdings, Inc. | 23425 | 898349 |
|  Globalstar, Inc.(x)\* | 26680 | 970885 |
|  IDT Corp., Class B | 10100 | 528331 |
|  Liberty Latin America Ltd., Class A\* | 24100 | 199789 |
|  Liberty Latin America Ltd., Class C\* | 56199 | 474319 |
|  Lumen Technologies, Inc.\* | 563240 | 3447029 |
|  Shenandoah Telecommunications Co. | 26948 | 361642 |
|  Uniti Group, Inc. | 76839 | 470255 |
|  |  | 7914721 |
|  ***Entertainment (0.5%)*** |  |  |
|  AMC Entertainment Holdings, Inc., |  |  |
|  Class A(x)\* | 243160 | 705164 |
|  Atlanta Braves Holdings, Inc., Class A\* | 8220 | 373764 |
|  Atlanta Braves Holdings, Inc., Class C\* | 28170 | 1171590 |
|  Cinemark Holdings, Inc. | 62100 | 1740042 |
|  Eventbrite, Inc., Class A\* | 36900 | 92988 |
|  Golden Matrix Group, Inc.(x)\* | 4990 | 5639 |
|  IMAX Corp.\* | 27100 | 887525 |
|  Lionsgate Studios Corp.\* | 93836 | 647468 |
|  Madison Square Garden Entertainment Corp., Class A\* | 23096 | 1044863 |
|  Marcus Corp. (The) | 15640 | 242576 |
|  Playstudios, Inc.\* | 26630 | 25634 |
|  Reservoir Media, Inc.(x)\* | 7050 | 57387 |
|  Sphere Entertainment Co.\* | 14716 | 914158 |
|  Starz Entertainment Corp. | 6255 | 92136 |
|  Vivid Seats, Inc., Class A\* | 1675 | 27839 |
|  |  | 8028773 |
|  ***Interactive Media & Services (0.6%)*** |  |  |
|  Angi, Inc., Class A\* | 24200 | 393492 |
|  Arena Group Holdings, Inc. (The)\* | 2500 | 13675 |
|  Bumble, Inc., Class A\* | 52880 | 322039 |
|  Cargurus, Inc., Class A\* | 50100 | 1865223 |
|  Cars.com, Inc.\* | 41400 | 505908 |
|  EverQuote, Inc., Class A\* | 15130 | 346023 |
|  fuboTV, Inc.(x)\* | 191840 | 796136 |
|  Getty Images Holdings, Inc.(x)\* | 31440 | 62251 |
|  Grindr, Inc.\* | 15230 | 228755 |
|  MediaAlpha, Inc., Class A\* | 17270 | 196533 |
|  Nextdoor Holdings, Inc.\* | 82810 | 173073 |
|  QuinStreet, Inc.\* | 27250 | 421557 |
|  Rumble, Inc.(x)\* | 44000 | 318560 |
|  Shutterstock, Inc. | 18170 | 378844 |
|  Teads Holding Co.\* | 19040 | 31416 |
|  Travelzoo\* | 1000 | 9830 |
|  TripAdvisor, Inc.\* | 65000 | 1056900 |
|  TrueCar, Inc.\* | 52690 | 96950 |
|  Vimeo, Inc.\* | 72200 | 559550 |
|  Webtoon Entertainment, Inc.(x)\* | 5300 | 102873 |
|  Yelp, Inc., Class A\* | 36620 | 1142544 |
|  Ziff Davis, Inc.\* | 25318 | 964616 |
|  ZipRecruiter, Inc., Class A\* | 52000 | 219440 |
|  |  | 10206188 |
|  ***Media (1.0%)*** |  |  |
|  Advantage Solutions, Inc.(x)\* | 65950 | 100904 |
|  Altice USA, Inc., Class A\* | 146100 | 352101 |
|  AMC Networks, Inc., Class A\* | 27330 | 225199 |
|  Boston Omaha Corp., Class A(x)\* | 12940 | 169255 |
|  Cable One, Inc. | 3170 | 561248 |
|  EchoStar Corp., Class A(x)\* | 75765 | 5785415 |
|  Emerald Holding, Inc.(x) | 8150 | 41484 |
|  Entravision Communications Corp., Class A | 60360 | 140639 |
|  EW Scripps Co. (The), Class A\* | 56722 | 139536 |
|  Gambling.com Group Ltd.\* | 14130 | 115583 |
|  Gannett Co., Inc.\* | 108089 | 446408 |
|  Gray Media, Inc. | 27400 | 158372 |
|  Ibotta, Inc., Class A(x)\* | 4880 | 135908 |
|  iHeartMedia, Inc., Class A\* | 93120 | 267254 |
|  Integral Ad Science Holding Corp.\* | 40580 | 412699 |
|  John Wiley & Sons, Inc., Class A | 23040 | 932429 |
|  Magnite, Inc.\* | 78683 | 1713716 |
|  National CineMedia, Inc. | 9640 | 43476 |
|  Newsmax, Inc., Class B\* | 17700 | 219480 |
|  PubMatic, Inc., Class A\* | 21000 | 173880 |
|  Scholastic Corp. | 14960 | 409605 |
|  Sinclair, Inc. | 25390 | 383389 |
|  Stagwell, Inc., Class A(x)\* | 57810 | 325470 |
|  TechTarget, Inc.(x)\* | 20700 | 120267 |
|  TEGNA, Inc. | 83740 | 1702434 |
|  Thryv Holdings, Inc.\* | 16580 | 199955 |
|  WideOpenWest, Inc.\* | 37940 | 195770 |
|  |  | 15471876 |
|  ***Wireless Telecommunication Services (0.2%)*** |  |  |
|  Gogo, Inc.\* | 38300 | 328997 |
|  Spok Holdings, Inc. | 9320 | 160770 |
|  Telephone and Data Systems, Inc. | 52500 | 2060100 |
|  |  | 2549867 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 44171425 |
|  **Consumer Discretionary (9.9%)** |  |  |
|  ***Automobile Components (1.3%)*** |  |  |
|  Adient plc\* | 49900 | 1201592 |
|  American Axle & Manufacturing Holdings, Inc.\* | 62675 | 376677 |
|  Cooper-Standard Holdings, Inc.\* | 5600 | 206808 |
|  Dana, Inc. | 71825 | 1439373 |
|  Dorman Products, Inc.\* | 15510 | 2417699 |
|  Fox Factory Holding Corp.\* | 22600 | 548954 |
|  Garrett Motion, Inc. | 70950 | 966339 |
|  Gentherm, Inc.\* | 16900 | 575614 |
|  Goodyear Tire & Rubber Co. (The)\* | 164623 | 1231380 |
|  Holley, Inc.\* | 41350 | 129839 |
|  LCI Industries | 13470 | 1254730 |
|  Luminar Technologies, Inc., Class A(x)\* | 36325 | 69381 |
|  Modine Manufacturing Co.\* | 28190 | 4007490 |
|  Motorcar Parts of America, Inc.\* | 2060 | 34072 |
|  Patrick Industries, Inc.(x) | 16957 | 1753862 |
|  Phinia, Inc. | 25510 | 1466315 |
|  Solid Power, Inc.\* | 82400 | 285928 |
|  Standard Motor Products, Inc. | 12900 | 526578 |
|  Strattec Security Corp.\* | 630 | 42878 |
|  Visteon Corp. | 16100 | 1929746 |
|  XPEL, Inc.(m)\* | 12080 | 399486 |
|  |  | 20864741 |
|  ***Automobiles (0.1%)*** |  |  |
|  Livewire Group, Inc.(x)\* | 52850 | 251038 |
|  Winnebago Industries, Inc. | 17446 | 583394 |
|  |  | 834432 |
|  ***Broadline Retail (0.1%)*** |  |  |
|  Groupon, Inc.(x)\* | 13940 | 325499 |
|  Kohl's Corp.(x) | 61000 | 937570 |

---

See Notes to Portfolio of Investments.

796

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Savers Value Village, Inc.\* | 16460 | $218095 |
|  |  | 1481164 |
|  ***Distributors (0.0%)†*** |  |  |
|  A-Mark Precious Metals, Inc. | 13010 | 336569 |
|  GigaCloud Technology, Inc., Class A\* | 13180 | 374312 |
|  Weyco Group, Inc. | 1070 | 32196 |
|  |  | 743077 |
|  ***Diversified Consumer Services (1.4%)*** |  |  |
|  Adtalem Global Education, Inc.\* | 20640 | 3187848 |
|  American Public Education, Inc.\* | 9760 | 385227 |
|  Carriage Services, Inc., Class A | 8530 | 379926 |
|  Coursera, Inc.\* | 70150 | 821456 |
|  European Wax Center, Inc., Class A\* | 41370 | 165066 |
|  Frontdoor, Inc.\* | 41700 | 2805993 |
|  Graham Holdings Co., Class B | 1730 | 2036746 |
|  KinderCare Learning Cos., Inc.\* | 19500 | 129480 |
|  Laureate Education, Inc.\* | 70400 | 2220416 |
|  Lincoln Educational Services Corp.\* | 16540 | 388690 |
|  Matthews International Corp., Class A(x) | 18459 | 448185 |
|  Mister Car Wash, Inc.\* | 52590 | 280305 |
|  Nerdy, Inc.(x)\* | 91970 | 115882 |
|  OneSpaWorld Holdings Ltd. | 56420 | 1192719 |
|  Perdoceo Education Corp. | 38800 | 1461208 |
|  Strategic Education, Inc. | 12764 | 1097832 |
|  Stride, Inc.\* | 23284 | 3467919 |
|  Udemy, Inc.\* | 53700 | 376437 |
|  Universal Technical Institute, Inc.\* | 21150 | 688432 |
|  Zspace, Inc.\* | 1900 | 1862 |
|  |  | 21651629 |
|  ***Hotels, Restaurants & Leisure (1.8%)*** |  |  |
|  Accel Entertainment, Inc., Class A\* | 22190 | 245643 |
|  Bally's Corp.(x)\* | 3000 | 33300 |
|  Biglari Holdings, Inc., Class B\* | 931 | 301318 |
|  BJ's Restaurants, Inc.\* | 12134 | 370451 |
|  Bloomin' Brands, Inc. | 46890 | 336201 |
|  Brightstar Lottery plc(x) | 71210 | 1228373 |
|  Brinker International, Inc.\* | 24210 | 3066923 |
|  Cheesecake Factory, Inc. (The)(x) | 25821 | 1410859 |
|  Cracker Barrel Old Country Store, Inc.(x) | 13801 | 608072 |
|  Dave & Buster's Entertainment, Inc.(x)\* | 18110 | 328878 |
|  Denny's Corp.\* | 52550 | 274836 |
|  Dine Brands Global, Inc. | 6351 | 156997 |
|  El Pollo Loco Holdings, Inc.\* | 20130 | 195261 |
|  First Watch Restaurant Group, Inc.\* | 16650 | 260406 |
|  Genius Sports Ltd.\* | 123800 | 1532644 |
|  Global Business Travel Group I\* | 70480 | 569478 |
|  Golden Entertainment, Inc. | 10620 | 250420 |
|  Hilton Grand Vacations, Inc.\* | 34200 | 1429902 |
|  Inspired Entertainment, Inc.\* | 7190 | 67442 |
|  Jack in the Box, Inc.(x) | 10549 | 208554 |
|  Krispy Kreme, Inc. | 74621 | 288783 |
|  Kura Sushi USA, Inc., Class A\* | 5660 | 336261 |
|  Life Time Group Holdings, Inc.\* | 75850 | 2093460 |
|  Lindblad Expeditions Holdings, Inc.\* | 22420 | 286976 |
|  Marriott Vacations Worldwide Corp. | 17900 | 1191424 |
|  Monarch Casino & Resort, Inc. | 6700 | 709128 |
|  Nathan's Famous, Inc. | 880 | 97451 |
|  Papa John's International, Inc. | 18742 | 902427 |
|  Portillo's, Inc., Class A\* | 22690 | 146350 |
|  Potbelly Corp.\* | 5600 | 95424 |
|  Pursuit Attractions and Hospitality, Inc.\* | 9504 | 343855 |
|  RCI Hospitality Holdings, Inc. | 4740 | 144617 |
|  Red Rock Resorts, Inc., Class A | 27200 | 1660832 |
|  Rush Street Interactive, Inc.\* | 49620 | 1016218 |
|  Sabre Corp.(x)\* | 188520 | 344992 |
|  Shake Shack, Inc., Class A\* | 21700 | 2031337 |
|  Six Flags Entertainment Corp.(x)\* | 51637 | 1173193 |
|  Super Group SGHC Ltd. | 84680 | 1117776 |
|  Sweetgreen, Inc., Class A(x)\* | 52321 | 417522 |
|  Target Hospitality Corp.\* | 23200 | 196736 |
|  United Parks & Resorts, Inc.(x)\* | 20800 | 1075360 |
|  Xponential Fitness, Inc., Class A\* | 29470 | 229571 |
|  |  | 28775651 |
|  ***Household Durables (1.8%)*** |  |  |
|  Bassett Furniture Industries, Inc. | 1400 | 21896 |
|  Beazer Homes USA, Inc.\* | 16030 | 393536 |
|  Cavco Industries, Inc.\* | 4330 | 2514561 |
|  Century Communities, Inc. | 15100 | 956887 |
|  Champion Homes, Inc.\* | 28700 | 2191819 |
|  Cricut, Inc., Class A | 35770 | 224993 |
|  Dream Finders Homes, Inc., Class A(x)\* | 12960 | 335923 |
|  Ethan Allen Interiors, Inc. | 9554 | 281461 |
|  Flexsteel Industries, Inc. | 1430 | 66281 |
|  Green Brick Partners, Inc.\* | 17660 | 1304368 |
|  Hamilton Beach Brands Holding Co., Class A | 2240 | 32189 |
|  Helen of Troy Ltd.\* | 12298 | 309910 |
|  Hovnanian Enterprises, Inc., Class A\* | 2140 | 274969 |
|  Installed Building Products, Inc.(x) | 13300 | 3280578 |
|  KB Home | 39330 | 2502961 |
|  La-Z-Boy, Inc. | 21459 | 736473 |
|  Legacy Housing Corp.\* | 7690 | 211552 |
|  Leggett & Platt, Inc. | 74500 | 661560 |
|  LGI Homes, Inc.\* | 13000 | 672230 |
|  Lovesac Co. (The)(x)\* | 16910 | 286286 |
|  M/I Homes, Inc.\* | 14550 | 2101602 |
|  Meritage Homes Corp. | 39318 | 2847803 |
|  Sonos, Inc.\* | 65753 | 1038897 |
|  Taylor Morrison Home Corp., Class A\* | 56920 | 3757289 |
|  Traeger, Inc.\* | 34610 | 42224 |
|  Tri Pointe Homes, Inc.\* | 51461 | 1748130 |
|  |  | 28796378 |
|  ***Leisure Products (0.5%)*** |  |  |
|  Acushnet Holdings Corp. | 15600 | 1224444 |
|  American Outdoor Brands, Inc.\* | 600 | 5208 |
|  Clarus Corp. | 28454 | 99589 |
|  Escalade, Inc. | 670 | 8422 |
|  Funko, Inc., Class A\* | 28710 | 98762 |
|  JAKKS Pacific, Inc. | 5190 | 97209 |
|  Johnson Outdoors, Inc., Class A | 5110 | 206393 |
|  Latham Group, Inc.\* | 37290 | 283777 |
|  Malibu Boats, Inc., Class A\* | 12000 | 389400 |
|  Marine Products Corp. | 5930 | 52599 |
|  MasterCraft Boat Holdings, Inc.\* | 9930 | 213098 |
|  Outdoor Holding Co.(x)\* | 31590 | 46753 |
|  Peloton Interactive, Inc., Class A\* | 189920 | 1709280 |
|  Polaris, Inc. | 29800 | 1732274 |
|  Smith & Wesson Brands, Inc. | 22035 | 216604 |
|  Sturm Ruger & Co., Inc. | 10700 | 465129 |
|  Topgolf Callaway Brands Corp.\* | 79653 | 756704 |
|  |  | 7605645 |
|  ***Specialty Retail (2.3%)*** |  |  |
|  1-800-Flowers.com, Inc., Class A\* | 16270 | 74842 |
|  Abercrombie & Fitch Co., Class A\* | 28250 | 2416788 |
|  Academy Sports & Outdoors, Inc. | 39400 | 1970788 |
|  Advance Auto Parts, Inc.(x) | 33500 | 2056900 |
|  American Eagle Outfitters, Inc.(x) | 97640 | 1670620 |
|  America's Car-Mart, Inc.\* | 3340 | 97561 |

---

See Notes to Portfolio of Investments.

797

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** | **Value**<br>**(Note 1)** |  |
|  Arhaus, Inc., Class A\* | 28770 | $| 305825 |  |
|  Arko Corp.(x) | 46450 |  | 212277 |  |
|  Asbury Automotive Group, Inc.\* | 10932 |  | 2672327 |  |
|  BARK, Inc.\* | 21290 |  | 17688 |  |
|  Bed Bath & Beyond, Inc.(x)\* | 23300 |  | 228107 |  |
|  Boot Barn Holdings, Inc.\* | 17220 |  | 2853698 |  |
|  Buckle, Inc. (The) | 16339 |  | 958446 |  |
|  Build-A-Bear Workshop, Inc.(x) | 7130 |  | 464947 |  |
|  Caleres, Inc. | 18863 |  | 245974 |  |
|  Camping World Holdings, Inc., Class A | 30790 |  | 486174 |  |
|  Citi Trends, Inc.\* | 1580 |  | 49027 |  |
|  Designer Brands, Inc., Class A(x) | 23750 |  | 84075 |  |
|  EVgo, Inc., Class A\* | 5860 |  | 27718 |  |
|  Genesco, Inc.\* | 9167 |  | 265751 |  |
|  Group 1 Automotive, Inc. | 7207 |  | 3153135 |  |
|  Haverty Furniture Cos., Inc. | 7570 |  | 166010 |  |
|  J Jill, Inc. | 7840 |  | 134456 |  |
|  Lands' End, Inc.\* | 8260 |  | 116466 |  |
|  MarineMax, Inc.(x)\* | 8300 |  | 210239 |  |
|  Monro, Inc. | 17704 |  | 318141 |  |
|  National Vision Holdings, Inc.\* | 44892 |  | 1310397 |  |
|  ODP Corp. (The)\* | 13110 |  | 365114 |  |
|  OneWater Marine, Inc., Class A(x)\* | 3170 |  | 50213 |  |
|  Petco Health & Wellness Co., Inc., Class A(x)\* | 54130 |  | 209483 |  |
|  RealReal, Inc. (The)(x)\* | 54980 |  | 584437 |  |
|  Revolve Group, Inc., Class A\* | 18600 |  | 396180 |  |
|  Sally Beauty Holdings, Inc.\* | 68800 |  | 1120064 |  |
|  Shoe Carnival, Inc. | 13000 |  | 270270 |  |
|  Signet Jewelers Ltd.(x) | 23370 |  | 2241650 |  |
|  Sleep Number Corp.(x)\* | 16770 |  | 117725 |  |
|  Sonic Automotive, Inc., Class A | 7845 |  | 596926 |  |
|  Stitch Fix, Inc., Class A\* | 74480 |  | 323988 |  |
|  ThredUp, Inc., Class A\* | 50840 |  | 480438 |  |
|  Tile Shop Holdings, Inc.\* | 3690 |  | 22325 |  |
|  Torrid Holdings, Inc.\* | 13490 |  | 23608 |  |
|  Upbound Group, Inc. | 34203 |  | 808217 |  |
|  Urban Outfitters, Inc.\* | 33560 |  | 2397191 |  |
|  Victoria's Secret & Co.\* | 44070 |  | 1196060 |  |
|  Warby Parker, Inc., Class A\* | 54890 |  | 1513866 |  |
|  Winmark Corp. | 1500 |  | 746655 |  |
|  Zumiez, Inc.\* | 11020 |  | 216102 |  |
|  |  |  | 36248889 |  |
|  ***Textiles, Apparel & Luxury Goods (0.6%)*** |  |  |  |  |
|  Capri Holdings Ltd.\* | 65000 |  | 1294800 |  |
|  Carter's, Inc.(x) | 19900 |  | 561578 |  |
|  Ermenegildo Zegna NV(x) | 34500 |  | 326025 |  |
|  Figs, Inc., Class A\* | 64300 |  | 430167 |  |
|  G-III Apparel Group Ltd.\* | 24300 |  | 646623 |  |
|  Hanesbrands, Inc.\* | 188060 |  | 1239315 |  |
|  Kontoor Brands, Inc. | 29940 |  | 2388314 |  |
|  Lakeland Industries, Inc.(x) | 5800 |  | 85840 |  |
|  Movado Group, Inc. | 9850 |  | 186855 |  |
|  Oxford Industries, Inc. | 8800 |  | 356752 |  |
|  Rocky Brands, Inc. | 2170 |  | 64644 |  |
|  Steven Madden Ltd. | 39530 |  | 1323464 |  |
|  Superior Group of Cos., Inc. | 3030 |  | 32482 |  |
|  Wolverine World Wide, Inc. | 45080 |  | 1236995 |  |
|  |  |  | 10173854 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  |  | 157175460 |  |
|  **Consumer Staples (2.0%)** |  |  |  |  |
|  ***Beverages (0.1%)*** |  |  |  |  |
|  MGP Ingredients, Inc. | 11270 |  | 272621 |  |
|  National Beverage Corp.\* | 10840 |  | 400213 |  |
|  Vita Coco Co., Inc. (The)\* | 20150 |  | 855770 |  |
|  Zevia PBC, Class A\* | 19730 |  | 53666 |  |
|  |  |  | 1582270 |  |
|  ***Consumer Staples Distribution & Retail (0.5%)*** | ***Consumer Staples Distribution & Retail (0.5%)*** | ***Consumer Staples Distribution & Retail (0.5%)*** | ***Consumer Staples Distribution & Retail (0.5%)*** | **** |
|  Andersons, Inc. (The) | 16309 |  | 649261 |  |
|  Chefs' Warehouse, Inc. (The)\* | 18830 |  | 1098354 |  |
|  Grocery Outlet Holding Corp.\* | 52900 |  | 849045 |  |
|  Guardian Pharmacy Services, Inc., Class A\* | 7900 |  | 207217 |  |
|  HF Foods Group, Inc.\* | 22420 |  | 61879 |  |
|  Ingles Markets, Inc., Class A | 7600 |  | 528656 |  |
|  Natural Grocers by Vitamin Cottage, Inc. | 10850 |  | 434000 |  |
|  PriceSmart, Inc. | 13622 |  | 1650850 |  |
|  United Natural Foods, Inc.\* | 41588 |  | 1564541 |  |
|  Village Super Market, Inc., Class A | 7410 |  | 276838 |  |
|  Weis Markets, Inc. | 8451 |  | 607373 |  |
|  |  |  | 7928014 |  |
|  ***Food Products (0.8%)*** |  |  |  |  |
|  Alico, Inc. | 4020 |  | 139333 |  |
|  B&G Foods, Inc.(x) | 41590 |  | 184244 |  |
|  Beyond Meat, Inc.(x)\* | 37910 |  | 71650 |  |
|  BRC, Inc., Class A(x)\* | 59650 |  | 93054 |  |
|  Calavo Growers, Inc. | 8040 |  | 206950 |  |
|  Cal-Maine Foods, Inc. | 25664 |  | 2414982 |  |
|  Dole plc | 38210 |  | 513542 |  |
|  Forafric Global plc(x)\* | 880 |  | 7647 |  |
|  Fresh Del Monte Produce, Inc. | 18604 |  | 645931 |  |
|  Hain Celestial Group, Inc. (The)\* | 100190 |  | 158300 |  |
|  J & J Snack Foods Corp. | 8703 |  | 836271 |  |
|  John B Sanfilippo & Son, Inc. | 4740 |  | 304687 |  |
|  Lifeway Foods, Inc.\* | 4110 |  | 114094 |  |
|  Limoneira Co. | 3350 |  | 49748 |  |
|  Mama's Creations, Inc.\* | 10550 |  | 110881 |  |
|  Marzetti Co. (The) | 10837 |  | 1872525 |  |
|  Mission Produce, Inc.\* | 19870 |  | 238837 |  |
|  Seneca Foods Corp., Class A\* | 4460 |  | 481413 |  |
|  Simply Good Foods Co. (The)\* | 52430 |  | 1301313 |  |
|  SunOpta, Inc.\* | 75190 |  | 440613 |  |
|  Tootsie Roll Industries, Inc.(x) | 9800 |  | 410816 |  |
|  TreeHouse Foods, Inc.\* | 27000 |  | 545670 |  |
|  Utz Brands, Inc. | 38520 |  | 468018 |  |
|  Vital Farms, Inc.\* | 17910 |  | 736997 |  |
|  Westrock Coffee Co.(x)\* | 11040 |  | 53654 |  |
|  |  |  | 12401170 |  |
|  ***Household Products (0.3%)*** |  |  |  |  |
|  Central Garden & Pet Co.\* | 4470 |  | 145945 |  |
|  Central Garden & Pet Co., Class A\* | 31201 |  | 921366 |  |
|  Energizer Holdings, Inc. | 40380 |  | 1005058 |  |
|  Oil-Dri Corp. of America | 3560 |  | 217303 |  |
|  Spectrum Brands Holdings, Inc. | 14300 |  | 751179 |  |
|  WD-40 Co. | 7647 |  | 1511047 |  |
|  |  |  | 4551898 |  |
|  ***Personal Care Products (0.2%)*** | ***Personal Care Products (0.2%)*** | ***Personal Care Products (0.2%)*** | ***Personal Care Products (0.2%)*** | **** |
|  Beauty Health Co. (The)(x)\* | 59000 |  | 117410 |  |
|  Edgewell Personal Care Co. | 30300 |  | 616908 |  |
|  FitLife Brands, Inc.\* | 200 |  | 3978 |  |
|  Herbalife Ltd.(x)\* | 49900 |  | 421156 |  |
|  Honest Co., Inc. (The)\* | 45320 |  | 166778 |  |
|  Interparfums, Inc. | 10210 |  | 1004460 |  |
|  Lifevantage Corp. | 1000 |  | 9730 |  |
|  Medifast, Inc.(x)\* | 17500 |  | 239225 |  |
|  Nature's Sunshine Products, Inc.\* | 5260 |  | 81635 |  |
|  Nu Skin Enterprises, Inc., Class A | 25800 |  | 314502 |  |
|  Olaplex Holdings, Inc.(x)\* | 74330 |  | 97372 |  |
|  USANA Health Sciences, Inc.\* | 7870 |  | 216818 |  |
|  Waldencast plc, Class A(x)\* | 7200 |  | 14256 |  |
|  |  |  | 3304228 |  |
|  ***Tobacco (0.1%)*** | ***Tobacco (0.1%)*** | ***Tobacco (0.1%)*** | ***Tobacco (0.1%)*** | **** |
|  Ispire Technology, Inc.(x)\* | 3030 |  | 7757 |  |
|  Turning Point Brands, Inc. | 10650 |  | 1052859 |  |

---

See Notes to Portfolio of Investments.

798

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Universal Corp. | 14253 | $796315 |
|  |  | 1856931 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 31624511 |
|  **Energy (4.7%)** |  |  |
|  ***Energy Equipment & Services (1.5%)*** |  |  |
|  Archrock, Inc. | 91800 | 2415258 |
|  Aris Water Solutions, Inc., Class A | 12870 | 317374 |
|  Atlas Energy Solutions, Inc.(x) | 38150 | 433765 |
|  Borr Drilling Ltd.(x) | 133130 | 358120 |
|  Bristow Group, Inc., Class A\* | 12686 | 457711 |
|  Cactus, Inc., Class A | 38270 | 1510517 |
|  Core Laboratories, Inc.(x) | 25050 | 309618 |
|  DMC Global, Inc.\* | 19750 | 166887 |
|  Energy Services of America Corp.(x) | 4700 | 48645 |
|  Expro Group Holdings NV\* | 59349 | 705066 |
|  Flowco Holdings, Inc., Class A | 9000 | 133650 |
|  Forum Energy Technologies, Inc.\* | 2230 | 59563 |
|  Helix Energy Solutions Group, Inc.\* | 79900 | 524144 |
|  Helmerich & Payne, Inc. | 54700 | 1208323 |
|  Innovex International, Inc.\* | 21800 | 404172 |
|  Kodiak Gas Services, Inc.(x) | 30160 | 1115015 |
|  Liberty Energy, Inc., Class A | 91360 | 1127382 |
|  Mammoth Energy Services, Inc.\* | 6190 | 14175 |
|  Nabors Industries Ltd.(x)\* | 5160 | 210889 |
|  National Energy Services Reunited Corp.\* | 6100 | 62586 |
|  Natural Gas Services Group, Inc. | 2360 | 66056 |
|  Noble Corp. plc | 75905 | 2146593 |
|  Oceaneering International, Inc.\* | 55500 | 1375290 |
|  Oil States International, Inc.\* | 41400 | 250884 |
|  Patterson-UTI Energy, Inc. | 224205 | 1161382 |
|  ProFrac Holding Corp., Class A\* | 49100 | 181670 |
|  ProPetro Holding Corp.\* | 45500 | 238420 |
|  Ranger Energy Services, Inc., Class A | 6850 | 96174 |
|  RPC, Inc. | 37300 | 177548 |
|  SEACOR Marine Holdings, Inc.(x)\* | 8440 | 54776 |
|  Seadrill Ltd.\* | 41790 | 1262476 |
|  Select Water Solutions, Inc., Class A | 51240 | 547756 |
|  Solaris Energy Infrastructure, Inc., Class A | 20390 | 814988 |
|  TETRA Technologies, Inc.\* | 79550 | 457413 |
|  Tidewater, Inc.\* | 27390 | 1460709 |
|  Transocean Ltd.\* | 409580 | 1277890 |
|  Valaris Ltd.\* | 35250 | 1719143 |
|  |  | 24872028 |
|  ***Oil, Gas & Consumable Fuels (3.2%)*** |  |  |
|  Ardmore Shipping Corp.(x) | 22420 | 266125 |
|  Berry Corp. | 38200 | 144396 |
|  BKV Corp.\* | 9500 | 219735 |
|  California Resources Corp. | 37280 | 1982550 |
|  Calumet, Inc.(x)\* | 38500 | 702625 |
|  Centrus Energy Corp., Class A(x)\* | 8260 | 2561178 |
|  Clean Energy Fuels Corp.\* | 90259 | 232868 |
|  CNX Resources Corp.(x)\* | 79050 | 2539086 |
|  Comstock Resources, Inc.(x)\* | 47600 | 943908 |
|  Core Natural Resources, Inc. | 29774 | 2485534 |
|  Crescent Energy Co., Class A | 89162 | 795325 |
|  CVR Energy, Inc.\* | 19190 | 700051 |
|  Delek US Holdings, Inc. | 33827 | 1091597 |
|  DHT Holdings, Inc. | 75800 | 905810 |
|  Diversified Energy Co. plc(m) | 26390 | 369724 |
|  Dorian LPG Ltd. | 21738 | 647792 |
|  Empire Petroleum Corp.(x)\* | 4443 | 20082 |
|  Encore Energy Corp.(x)\* | 87390 | 280522 |
|  Energy Fuels, Inc.(x)\* | 103800 | 1593330 |
|  Epsilon Energy Ltd. | 5800 | 29232 |
|  Evolution Petroleum Corp. | 14740 | 71047 |
|  Excelerate Energy, Inc., Class A | 11010 | 277342 |
|  FLEX LNG Ltd. | 14400 | 362880 |
|  FutureFuel Corp. | 41290 | 160205 |
|  Golar LNG Ltd. | 55400 | 2238714 |
|  Granite Ridge Resources, Inc. | 28290 | 153049 |
|  Green Plains, Inc.\* | 35780 | 314506 |
|  Gulfport Energy Corp.\* | 8480 | 1534710 |
|  HighPeak Energy, Inc.(x) | 26350 | 186295 |
|  Infinity Natural Resources, Inc., Class A\* | 4800 | 62928 |
|  International Seaways, Inc. | 22684 | 1045279 |
|  Jura Energy Corp.\* | 690 | 12 |
|  Kinetik Holdings, Inc., Class A(x) | 24760 | 1058242 |
|  Kolibri Global Energy, Inc.\* | 5500 | 30525 |
|  Kosmos Energy Ltd.(x)\* | 262740 | 436148 |
|  Magnolia Oil & Gas Corp., Class A | 104180 | 2486777 |
|  Murphy Oil Corp.(x) | 80100 | 2275641 |
|  NACCO Industries, Inc., Class A | 2040 | 86006 |
|  Navigator Holdings Ltd. | 4300 | 66607 |
|  New Fortress Energy, Inc.(x)\* | 105400 | 232934 |
|  NextDecade Corp.\* | 64930 | 440875 |
|  NextNRG, Inc.(x)\* | 3500 | 6405 |
|  Nordic American Tankers Ltd.(x) | 131701 | 413541 |
|  Northern Oil & Gas, Inc.(x) | 55710 | 1381608 |
|  OPAL Fuels, Inc., Class A(x)\* | 5100 | 11220 |
|  Par Pacific Holdings, Inc.\* | 29560 | 1047015 |
|  PBF Energy, Inc., Class A | 57250 | 1727233 |
|  Peabody Energy Corp. | 71880 | 1906258 |
|  Prairie Operating Co.(x)\* | 29600 | 58756 |
|  PrimeEnergy Resources Corp.\* | 1920 | 320698 |
|  REX American Resources Corp.\* | 19800 | 606276 |
|  Riley Exploration Permian, Inc. | 7320 | 198445 |
|  Sable Offshore Corp.\* | 38240 | 667671 |
|  SandRidge Energy, Inc. | 17900 | 201912 |
|  Scorpio Tankers, Inc. | 25930 | 1453377 |
|  SFL Corp. Ltd.(x) | 61865 | 465844 |
|  SM Energy Co. | 60610 | 1513432 |
|  Talos Energy, Inc.\* | 74430 | 713784 |
|  Teekay Corp. Ltd. | 32880 | 268958 |
|  Teekay Tankers Ltd., Class A | 12850 | 649568 |
|  Uranium Energy Corp.\* | 237880 | 3173319 |
|  VAALCO Energy, Inc.(x) | 72790 | 292616 |
|  Verde Clean Fuels, Inc.\* | 460 | 1403 |
|  Vital Energy, Inc.\* | 16060 | 271253 |
|  Vitesse Energy, Inc.(x) | 13700 | 318251 |
|  W&T Offshore, Inc.(x) | 159644 | 290552 |
|  World Kinect Corp. | 27840 | 722448 |
|  |  | 50714035 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 75586063 |
|  **Financials (17.8%)** |  |  |
|  ***Banks (10.0%)*** |  |  |
|  1st Source Corp. | 13442 | 827490 |
|  ACNB Corp. | 3470 | 152819 |
|  Amalgamated Financial Corp. | 13690 | 371683 |
|  Amerant Bancorp, Inc., Class A | 20310 | 391374 |
|  Ameris Bancorp | 37094 | 2719361 |
|  Ames National Corp. | 1700 | 34374 |
|  Arrow Financial Corp. | 11151 | 315573 |
|  Associated Banc-Corp. | 92210 | 2370719 |
|  Atlantic Union Bankshares Corp. | 79697 | 2812507 |
|  Axos Financial, Inc.\* | 29070 | 2460776 |
|  Banc of California, Inc. | 73407 | 1214886 |
|  BancFirst Corp. | 11170 | 1412446 |
|  Bancorp, Inc. (The)\* | 24390 | 1826567 |
|  Bank First Corp. | 4990 | 605337 |
|  Bank of Hawaii Corp. | 20960 | 1375814 |
|  Bank of Marin Bancorp | 14300 | 347204 |

---

See Notes to Portfolio of Investments.

799

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Bank of NT Butterfield & Son Ltd. (The) | 22970 | $985872 |
|  Bank7 Corp. | 2400 | 111048 |
|  BankFinancial Corp. | 260 | 3128 |
|  BankUnited, Inc. | 43400 | 1656144 |
|  Bankwell Financial Group, Inc. | 1800 | 79650 |
|  Banner Corp. | 17800 | 1165900 |
|  Bar Harbor Bankshares | 8656 | 263662 |
|  BayCom Corp. | 5530 | 158987 |
|  BCB Bancorp, Inc. | 8440 | 73259 |
|  Beacon Financial Corp. | 54787 | 1299000 |
|  Blue Foundry Bancorp\* | 12470 | 113352 |
|  Blue Ridge Bankshares, Inc.\* | 2520 | 10660 |
|  Bridgewater Bancshares, Inc.\* | 15470 | 272272 |
|  Burke & Herbert Financial Services Corp. | 10381 | 640404 |
|  Business First Bancshares, Inc. | 19920 | 470311 |
|  BV Financial, Inc.\* | 460 | 7415 |
|  Byline Bancorp, Inc. | 23690 | 656924 |
|  C&F Financial Corp. | 570 | 38304 |
|  Cadence Bank | 102310 | 3840717 |
|  California Bancorp\* | 4770 | 79564 |
|  Camden National Corp. | 14000 | 540260 |
|  Capital Bancorp, Inc. | 4590 | 146421 |
|  Capital City Bank Group, Inc. | 6860 | 286679 |
|  Capitol Federal Financial, Inc. | 78900 | 501015 |
|  Carter Bankshares, Inc.\* | 15060 | 292315 |
|  Cathay General Bancorp | 39097 | 1877047 |
|  CB Financial Services, Inc. | 160 | 5314 |
|  Central Pacific Financial Corp. | 15110 | 458437 |
|  CF Bankshares, Inc. | 110 | 2634 |
|  Chain Bridge Bancorp, Inc., Class A\* | 180 | 5891 |
|  Chemung Financial Corp. | 1110 | 58297 |
|  ChoiceOne Financial Services, Inc.(x) | 3210 | 92962 |
|  Citizens & Northern Corp. | 9212 | 182490 |
|  Citizens Community Bancorp, Inc. | 270 | 4339 |
|  Citizens Financial Services, Inc. | 1423 | 85778 |
|  City Holding Co. | 8550 | 1059088 |
|  Civista Bancshares, Inc. | 5340 | 108455 |
|  CNB Financial Corp. | 12923 | 312737 |
|  Coastal Financial Corp.(x)\* | 6880 | 744210 |
|  Colony Bankcorp, Inc. | 6780 | 115328 |
|  Columbia Financial, Inc.\* | 22170 | 332772 |
|  Community Financial System, Inc. | 28302 | 1659629 |
|  Community Trust Bancorp, Inc. | 11915 | 666644 |
|  Community West Bancshares | 3890 | 81068 |
|  ConnectOne Bancorp, Inc. | 36358 | 902042 |
|  Customers Bancorp, Inc.\* | 16630 | 1087103 |
|  CVB Financial Corp. | 76087 | 1438805 |
|  Dime Community Bancshares, Inc. | 28652 | 854689 |
|  Eagle Bancorp Montana, Inc. | 470 | 8117 |
|  Eagle Bancorp, Inc. | 15450 | 312399 |
|  Eagle Financial Services, Inc. | 890 | 33669 |
|  Eastern Bankshares, Inc. | 111149 | 2017354 |
|  ECB Bancorp, Inc.\* | 200 | 3174 |
|  Enterprise Financial Services Corp. | 19447 | 1127537 |
|  Equity Bancshares, Inc., Class A | 8680 | 353276 |
|  Esquire Financial Holdings, Inc. | 3590 | 366377 |
|  Farmers & Merchants Bancorp, Inc. | 6560 | 164066 |
|  Farmers National Banc Corp. | 17900 | 257939 |
|  FB Bancorp, Inc.\* | 3150 | 37863 |
|  FB Financial Corp. | 23606 | 1315798 |
|  Fidelity D&D Bancorp, Inc. | 860 | 37694 |
|  Financial Institutions, Inc. | 10860 | 295392 |
|  Finward Bancorp | 80 | 2567 |
|  Finwise Bancorp\* | 1050 | 20359 |
|  First Bancorp (Nasdaq Stock Exchange) | 26570 | 1405287 |
|  First Bancorp (New York Stock Exchange) | 98900 | 2180745 |
|  First Bancorp, Inc. (The) | 7109 | 186682 |
|  First Bank | 5140 | 83731 |
|  First Busey Corp. | 54751 | 1267486 |
|  First Business Financial Services, Inc. | 2820 | 144553 |
|  First Capital, Inc.(x) | 70 | 3206 |
|  First Commonwealth Financial Corp. | 69063 | 1177524 |
|  First Community Bankshares, Inc. | 7920 | 275616 |
|  First Community Corp. | 1150 | 32453 |
|  First Financial Bancorp | 54043 | 1364586 |
|  First Financial Bankshares, Inc. | 73748 | 2481620 |
|  First Financial Corp. | 6050 | 341462 |
|  First Financial Northwest, Inc.(r)\* | 1350 | 1431 |
|  First Foundation, Inc.\* | 60510 | 337041 |
|  First Internet Bancorp | 2880 | 64598 |
|  First Interstate BancSystem, Inc., Class A | 49216 | 1568514 |
|  First Merchants Corp. | 32747 | 1234562 |
|  First Mid Bancshares, Inc. | 18070 | 684492 |
|  First National Corp.(x) | 1090 | 24721 |
|  First Savings Financial Group, Inc. | 840 | 26401 |
|  First United Corp. | 970 | 35667 |
|  First Western Financial, Inc.\* | 3480 | 80127 |
|  Firstsun Capital Bancorp\* | 840 | 32584 |
|  Five Star Bancorp | 7540 | 242788 |
|  Flagstar Financial, Inc. | 169823 | 1961456 |
|  Flushing Financial Corp. | 27012 | 373036 |
|  Franklin Financial Services Corp.(x) | 770 | 35420 |
|  FS Bancorp, Inc. | 1320 | 52694 |
|  Fulton Financial Corp. | 100340 | 1869334 |
|  FVCBankcorp, Inc. | 5435 | 70492 |
|  GBank Financial Holdings, Inc.(x)\* | 1250 | 49087 |
|  German American Bancorp, Inc. | 20270 | 796003 |
|  Glacier Bancorp, Inc. | 63978 | 3113809 |
|  Great Southern Bancorp, Inc. | 4510 | 276237 |
|  Greene County Bancorp, Inc. | 6660 | 150516 |
|  Guaranty Bancshares, Inc. | 5980 | 291525 |
|  Hancock Whitney Corp. | 49287 | 3085859 |
|  Hanmi Financial Corp. | 14880 | 367387 |
|  Hanover Bancorp, Inc.(x) | 130 | 2918 |
|  HarborOne Bancorp, Inc. | 27284 | 371062 |
|  Hawthorn Bancshares, Inc. | 790 | 24522 |
|  HBT Financial, Inc. | 8800 | 221760 |
|  Heritage Commerce Corp. | 30500 | 302865 |
|  Heritage Financial Corp. | 26162 | 632859 |
|  Hilltop Holdings, Inc. | 25900 | 865578 |
|  Hingham Institution For Savings (The)(x) | 1440 | 379843 |
|  Home Bancorp, Inc. | 6320 | 343334 |
|  Home BancShares, Inc. | 111991 | 3169345 |
|  HomeTrust Bancshares, Inc. | 8790 | 359863 |
|  Hope Bancorp, Inc. | 74114 | 798208 |
|  Horizon Bancorp, Inc. | 22540 | 360865 |
|  Independent Bank Corp. | 12440 | 385329 |
|  Independent Bank Corp./MA | 30243 | 2091908 |
|  International Bancshares Corp. | 31590 | 2171812 |
|  Investar Holding Corp. | 2660 | 61739 |
|  John Marshall Bancorp, Inc. | 4570 | 90577 |
|  Kearny Financial Corp. | 51391 | 337639 |
|  Lakeland Financial Corp. | 13900 | 892380 |
|  Landmark Bancorp, Inc. | 170 | 4537 |
|  LCNB Corp. | 2400 | 35976 |
|  LINKBANCORP, Inc. | 3700 | 26381 |
|  Live Oak Bancshares, Inc. | 17600 | 619872 |
|  MainStreet Bancshares, Inc. | 260 | 5416 |

---

See Notes to Portfolio of Investments.

800

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Mechanics Bancorp\* | 28780 | $383062 |
|  Mercantile Bank Corp. | 13520 | 608400 |
|  Meridian Corp. | 420 | 6632 |
|  Metrocity Bankshares, Inc. | 18110 | 501466 |
|  Metropolitan Bank Holding Corp. | 5930 | 443683 |
|  Mid Penn Bancorp, Inc. | 17170 | 491749 |
|  Middlefield Banc Corp. | 1020 | 30610 |
|  Midland States Bancorp, Inc. | 14740 | 252644 |
|  MidWestOne Financial Group, Inc. | 9230 | 261117 |
|  MVB Financial Corp. | 6050 | 151613 |
|  National Bank Holdings Corp., Class A | 23100 | 892584 |
|  National Bankshares, Inc. | 1500 | 44160 |
|  NB Bancorp, Inc. | 21860 | 385829 |
|  NBT Bancorp, Inc. | 28622 | 1195255 |
|  Nicolet Bankshares, Inc. | 7540 | 1014130 |
|  Northeast Bank | 3630 | 363581 |
|  Northeast Community Bancorp, Inc. | 4450 | 91536 |
|  Northfield Bancorp, Inc. | 26443 | 312027 |
|  Northpointe Bancshares, Inc. | 3320 | 56706 |
|  Northrim Bancorp, Inc. | 9600 | 207936 |
|  Northwest Bancshares, Inc. | 65753 | 814680 |
|  Norwood Financial Corp.(x) | 1550 | 39401 |
|  Oak Valley Bancorp | 1480 | 41692 |
|  OceanFirst Financial Corp. | 33679 | 591740 |
|  OFG Bancorp | 24000 | 1043760 |
|  Ohio Valley Banc Corp. | 460 | 17011 |
|  Old National Bancorp | 179162 | 3932606 |
|  Old Second Bancorp, Inc. | 34550 | 597197 |
|  OP Bancorp | 2430 | 33826 |
|  Orange County Bancorp, Inc. | 2390 | 60252 |
|  Origin Bancorp, Inc. | 15590 | 538167 |
|  Orrstown Financial Services, Inc. | 10360 | 352033 |
|  Park National Corp. | 9448 | 1535583 |
|  Parke Bancorp, Inc. | 3220 | 69391 |
|  Pathward Financial, Inc. | 13950 | 1032439 |
|  Patriot National Bancorp, Inc.\* | 12780 | 16614 |
|  PCB Bancorp | 5130 | 107730 |
|  Peapack-Gladstone Financial Corp. | 9800 | 270480 |
|  Peoples Bancorp of North Carolina, Inc. | 830 | 25448 |
|  Peoples Bancorp, Inc. | 17308 | 519067 |
|  Peoples Financial Services Corp. | 4640 | 225550 |
|  Pioneer Bancorp, Inc.\* | 2070 | 27034 |
|  Plumas Bancorp | 960 | 41414 |
|  Ponce Financial Group, Inc.\* | 4390 | 64533 |
|  Preferred Bank | 6900 | 623691 |
|  Primis Financial Corp. | 15980 | 167950 |
|  Princeton Bancorp, Inc. | 1100 | 35024 |
|  Provident Bancorp, Inc.\* | 7620 | 95479 |
|  Provident Financial Services, Inc. | 82653 | 1593550 |
|  QCR Holdings, Inc. | 8850 | 669414 |
|  RBB Bancorp | 10280 | 192853 |
|  Red River Bancshares, Inc. | 2350 | 152327 |
|  Renasant Corp. | 56101 | 2069566 |
|  Republic Bancorp, Inc., Class A | 4860 | 351135 |
|  Rhinebeck Bancorp, Inc.\* | 240 | 2726 |
|  Richmond Mutual Bancorp, Inc. | 580 | 8242 |
|  Riverview Bancorp, Inc. | 1310 | 7035 |
|  S&T Bancorp, Inc. | 21157 | 795292 |
|  SB Financial Group, Inc. | 260 | 5015 |
|  Seacoast Banking Corp. of Florida | 45019 | 1369928 |
|  ServisFirst Bancshares, Inc. | 29930 | 2410263 |
|  Shore Bancshares, Inc. | 13875 | 227689 |
|  Sierra Bancorp | 10346 | 299103 |
|  Simmons First National Corp., Class A | 66099 | 1267118 |
|  SmartFinancial, Inc. | 6930 | 247609 |
|  Sound Financial Bancorp, Inc. | 60 | 2764 |
|  South Plains Financial, Inc. | 7230 | 279440 |
|  Southern First Bancshares, Inc.\* | 5260 | 232071 |
|  Southern Missouri Bancorp, Inc. | 5880 | 309053 |
|  Southside Bancshares, Inc. | 16189 | 457339 |
|  SR Bancorp, Inc.(x) | 710 | 10714 |
|  Stellar Bancorp, Inc. | 24904 | 755587 |
|  Sterling Bancorp, Inc.(r)\* | 4450 |  |
|  Stock Yards Bancorp, Inc. | 14850 | 1039352 |
|  Texas Capital Bancshares, Inc.\* | 24700 | 2087891 |
|  Third Coast Bancshares, Inc.\* | 5560 | 211113 |
|  Timberland Bancorp, Inc. | 1200 | 39936 |
|  Tompkins Financial Corp. | 8400 | 556164 |
|  Towne Bank | 43921 | 1518349 |
|  TriCo Bancshares | 15372 | 682671 |
|  Triumph Financial, Inc.\* | 12300 | 615492 |
|  TrustCo Bank Corp. | 16280 | 590964 |
|  Trustmark Corp. | 30620 | 1212552 |
|  UMB Financial Corp. | 40623 | 4807732 |
|  Union Bankshares, Inc. | 100 | 2476 |
|  United Bankshares, Inc. | 79134 | 2944576 |
|  United Community Banks, Inc. | 73130 | 2292626 |
|  United Security Bancshares | 270 | 2519 |
|  Unity Bancorp, Inc. | 3830 | 187172 |
|  Univest Financial Corp. | 21515 | 645880 |
|  USCB Financial Holdings, Inc. | 4420 | 77129 |
|  Valley National Bancorp | 292456 | 3100034 |
|  Veritex Holdings, Inc. | 29970 | 1004894 |
|  Virginia National Bankshares Corp. | 1250 | 48513 |
|  WaFd, Inc. | 44467 | 1346905 |
|  Washington Trust Bancorp, Inc. | 9420 | 272238 |
|  WesBanco, Inc. | 52923 | 1689831 |
|  West Bancorp, Inc. | 11260 | 228803 |
|  Westamerica Bancorp | 14274 | 713557 |
|  Western New England Bancorp, Inc. | 3050 | 36631 |
|  WSFS Financial Corp. | 35045 | 1889977 |
|  |  | 157925175 |
|  ***Capital Markets (1.7%)*** |  |  |
|  Acadian Asset Management, Inc. | 16700 | 804272 |
|  AlTi Global, Inc.\* | 15560 | 55394 |
|  Artisan Partners Asset Management, Inc., Class A | 38790 | 1683486 |
|  Bakkt Holdings, Inc., Class A(x)\* | 3800 | 127870 |
|  BGC Group, Inc., Class A | 196690 | 1860687 |
|  Cohen & Steers, Inc. | 14629 | 959809 |
|  Diamond Hill Investment Group, Inc. | 2313 | 323843 |
|  DigitalBridge Group, Inc. | 84100 | 983970 |
|  Donnelley Financial Solutions, Inc.\* | 15900 | 817737 |
|  Forge Global Holdings, Inc.\* | 6372 | 107687 |
|  GCM Grosvenor, Inc., Class A(x) | 22180 | 267713 |
|  Marex Group plc | 17800 | 598436 |
|  MarketWise, Inc. | 1547 | 25572 |
|  Moelis & Co., Class A | 41500 | 2959780 |
|  Open Lending Corp.\* | 143900 | 303629 |
|  P10, Inc., Class A(x) | 30360 | 330317 |
|  Patria Investments Ltd., Class A | 29050 | 424130 |
|  Perella Weinberg Partners, Class A | 27020 | 576066 |
|  Piper Sandler Cos. | 9880 | 3428261 |
|  PJT Partners, Inc., Class A | 12900 | 2292717 |
|  Siebert Financial Corp.\* | 1700 | 4964 |
|  Silvercrest Asset Management Group, Inc., Class A | 4840 | 76230 |
|  StepStone Group, Inc., Class A | 34590 | 2259073 |
|  StoneX Group, Inc.\* | 25270 | 2550248 |
|  Value Line, Inc. | 1350 | 52758 |
|  Victory Capital Holdings, Inc., Class A | 23100 | 1495956 |
|  Virtus Investment Partners, Inc. | 4078 | 774942 |
|  Westwood Holdings Group, Inc. | 400 | 6596 |

---

See Notes to Portfolio of Investments.

801

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  WisdomTree, Inc.(x) | 72380 | $1006082 |
|  |  | 27158225 |
|  ***Consumer Finance (1.0%)*** |  |  |
|  Atlanticus Holdings Corp.\* | 5060 | 296415 |
|  Bread Financial Holdings, Inc. | 27530 | 1535348 |
|  Consumer Portfolio Services, Inc.\* | 4210 | 31785 |
|  Dave, Inc.\* | 5200 | 1036620 |
|  Encore Capital Group, Inc.\* | 15700 | 655318 |
|  Enova International, Inc.\* | 13193 | 1518382 |
|  FirstCash Holdings, Inc. | 21275 | 3370386 |
|  Green Dot Corp., Class A\* | 23400 | 314262 |
|  LendingClub Corp.\* | 60630 | 920970 |
|  LendingTree, Inc.\* | 5850 | 378670 |
|  Medallion Financial Corp. | 2480 | 25048 |
|  Navient Corp. | 41980 | 552037 |
|  Nelnet, Inc., Class A | 7749 | 971570 |
|  NerdWallet, Inc., Class A\* | 15010 | 161508 |
|  Oportun Financial Corp.\* | 4000 | 24680 |
|  OppFi, Inc. | 14870 | 168477 |
|  PRA Group, Inc.\* | 29048 | 448501 |
|  PROG Holdings, Inc. | 24740 | 800586 |
|  Regional Management Corp. | 6580 | 256357 |
|  Upstart Holdings, Inc.(x)\* | 47020 | 2388616 |
|  Vroom, Inc.\* | 400 | 10812 |
|  World Acceptance Corp.\* | 1881 | 318152 |
|  |  | 16184500 |
|  ***Financial Services (2.4%)*** |  |  |
|  Acacia Research Corp.\* | 17090 | 55542 |
|  Alerus Financial Corp. | 7240 | 160294 |
|  AvidXchange Holdings, Inc.\* | 97600 | 971120 |
|  Banco Latinoamericano de Comercio Exterior SA, Class E | 15381 | 707065 |
|  Burford Capital Ltd.(x) | 112530 | 1345859 |
|  Cannae Holdings, Inc. | 35390 | 647991 |
|  Cantaloupe, Inc.\* | 24220 | 256005 |
|  Cass Information Systems, Inc. | 7978 | 313775 |
|  Compass Diversified Holdings | 37420 | 247720 |
|  Enact Holdings, Inc. | 16060 | 615740 |
|  Essent Group Ltd. | 58610 | 3725252 |
|  Evertec, Inc. | 38100 | 1287018 |
|  Federal Agricultural Mortgage Corp., Class C | 4850 | 814703 |
|  Flywire Corp.\* | 67814 | 918202 |
|  HA Sustainable Infrastructure Capital, Inc.(x) | 68110 | 2090977 |
|  International Money Express, Inc.\* | 22240 | 310693 |
|  Jackson Financial, Inc., Class A | 39610 | 4009720 |
|  Marqeta, Inc., Class A\* | 261860 | 1382621 |
|  Merchants Bancorp | 14510 | 461418 |
|  NCR Atleos Corp.\* | 40520 | 1592841 |
|  NewtekOne, Inc. | 11960 | 136942 |
|  NMI Holdings, Inc., Class A\* | 43400 | 1663956 |
|  Onity Group, Inc.\* | 1100 | 43956 |
|  Pagseguro Digital Ltd., Class A | 106100 | 1061000 |
|  Payoneer Global, Inc.\* | 159060 | 962313 |
|  Paysafe Ltd.(x)\* | 16649 | 215105 |
|  Paysign, Inc.\* | 3800 | 23902 |
|  PennyMac Financial Services, Inc. | 16390 | 2030393 |
|  Priority Technology Holdings, Inc.\* | 3150 | 21640 |
|  Radian Group, Inc. | 84100 | 3046102 |
|  Remitly Global, Inc.\* | 81452 | 1327668 |
|  Repay Holdings Corp., Class A\* | 43900 | 229597 |
|  Sezzle, Inc.\* | 9660 | 768260 |
|  StoneCo Ltd., Class A\* | 135530 | 2562872 |
|  SWK Holdings Corp. | 820 | 11931 |
|  Velocity Financial, Inc.\* | 2670 | 48434 |
|  Walker & Dunlop, Inc. | 18045 | 1508923 |
|  Waterstone Financial, Inc. | 14720 | 229632 |
|  |  | 37807182 |
|  ***Insurance (1.9%)*** |  |  |
|  Ambac Financial Group, Inc.\* | 18100 | 150954 |
|  American Coastal Insurance Corp. | 18280 | 208209 |
|  AMERISAFE, Inc. | 11000 | 482240 |
|  Baldwin Insurance Group, Inc. (The), Class A(x)\* | 36980 | 1043206 |
|  Bowhead Specialty Holdings, Inc.\* | 8700 | 235248 |
|  Citizens, Inc., Class A\* | 7300 | 38325 |
|  CNO Financial Group, Inc. | 54601 | 2159470 |
|  Crawford & Co., Class A | 9720 | 104004 |
|  Donegal Group, Inc., Class A | 13044 | 252923 |
|  eHealth, Inc.\* | 7500 | 32325 |
|  Employers Holdings, Inc. | 13611 | 578195 |
|  F&G Annuities & Life, Inc. | 14820 | 463421 |
|  Fidelis Insurance Holdings Ltd.(x) | 32400 | 588060 |
|  Genworth Financial, Inc., Class A\* | 234410 | 2086249 |
|  GoHealth, Inc., Class A\* | 2570 | 12387 |
|  Goosehead Insurance, Inc., Class A | 13310 | 990530 |
|  Greenlight Capital Re Ltd., Class A\* | 18493 | 234861 |
|  Hamilton Insurance Group Ltd., Class B\* | 22030 | 546344 |
|  HCI Group, Inc. | 5000 | 959650 |
|  Heritage Insurance Holdings, Inc.\* | 6920 | 174246 |
|  Hippo Holdings, Inc.\* | 13001 | 470116 |
|  Horace Mann Educators Corp. | 23137 | 1045098 |
|  Investors Title Co. | 1850 | 495485 |
|  James River Group Holdings Ltd. | 28190 | 156455 |
|  Kestrel Group Ltd.(x) | 1310 | 35776 |
|  Kingstone Cos., Inc. | 5900 | 86730 |
|  Kingsway Financial Services, Inc.\* | 7090 | 103656 |
|  Lemonade, Inc.(x)\* | 28650 | 1533635 |
|  MBIA, Inc.\* | 45620 | 339869 |
|  Mercury General Corp. | 13500 | 1144530 |
|  NI Holdings, Inc.\* | 2350 | 31866 |
|  Oscar Health, Inc., Class A\* | 109190 | 2066967 |
|  Palomar Holdings, Inc.\* | 14110 | 1647343 |
|  ProAssurance Corp.\* | 29900 | 717301 |
|  Root, Inc., Class A(x)\* | 6370 | 570179 |
|  Safety Insurance Group, Inc. | 8375 | 592029 |
|  Selective Insurance Group, Inc. | 35962 | 2915439 |
|  Selectquote, Inc.\* | 96697 | 189526 |
|  SiriusPoint Ltd.\* | 55380 | 1001824 |
|  Skyward Specialty Insurance Group, Inc.\* | 20860 | 992102 |
|  Stewart Information Services Corp. | 15197 | 1114244 |
|  Tiptree, Inc., Class A | 13910 | 266655 |
|  Trupanion, Inc.\* | 19900 | 861272 |
|  United Fire Group, Inc. | 10044 | 305538 |
|  Universal Insurance Holdings, Inc. | 14290 | 375827 |
|  |  | 30400309 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.8%)*** |  |  |
|  ACRES Commercial Realty Corp. (REIT)\* | 900 | 19044 |
|  Adamas Trust, Inc. (REIT) | 44550 | 310513 |
|  Advanced Flower Capital, Inc. (REIT)(x) | 17350 | 66451 |
|  AG Mortgage Investment Trust, Inc. (REIT) | 4230 | 30625 |
|  Angel Oak Mortgage REIT, Inc. (REIT) | 8770 | 82175 |
|  Apollo Commercial Real Estate Finance, Inc. (REIT) | 86507 | 876316 |
|  Arbor Realty Trust, Inc. (REIT)(x) | 101860 | 1243711 |
|  Ares Commercial Real Estate Corp. (REIT)(x) | 28460 | 128355 |

---

See Notes to Portfolio of Investments.

802

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  ARMOUR Residential REIT, Inc. (REIT)(x) | 46100 | $688734 |
|  Blackstone Mortgage Trust, Inc. (REIT), Class A | 97510 | 1795159 |
|  BrightSpire Capital, Inc. (REIT), Class A | 102580 | 557009 |
|  Chicago Atlantic Real Estate Finance, Inc. (REIT) | 9550 | 122144 |
|  Chimera Investment Corp. (REIT) | 39423 | 521172 |
|  Claros Mortgage Trust, Inc. (REIT)\* | 46400 | 154048 |
|  Dynex Capital, Inc. (REIT)(x) | 58900 | 723881 |
|  Ellington Financial, Inc. (REIT)(x) | 51610 | 669898 |
|  Franklin BSP Realty Trust, Inc. (REIT) | 42443 | 460931 |
|  Invesco Mortgage Capital, Inc. (REIT)(x) | 31679 | 239493 |
|  KKR Real Estate Finance Trust, Inc. (REIT) | 26100 | 234900 |
|  Ladder Capital Corp. (REIT) | 65148 | 710765 |
|  MFA Financial, Inc. (REIT) | 65875 | 605391 |
|  Nexpoint Real Estate Finance, Inc. (REIT) | 7310 | 103656 |
|  Orchid Island Capital, Inc. (REIT)(x) | 60209 | 422065 |
|  PennyMac Mortgage Investment Trust (REIT)(x) | 50745 | 622134 |
|  Ready Capital Corp. (REIT)(x) | 85589 | 331229 |
|  Redwood Trust, Inc. (REIT) | 97471 | 564357 |
|  Rithm Property Trust, Inc. (REIT) | 4300 | 10836 |
|  Seven Hills Realty Trust (REIT) | 2360 | 24332 |
|  Sunrise Realty Trust, Inc. (REIT) | 7616 | 79130 |
|  TPG RE Finance Trust, Inc. (REIT) | 23230 | 198849 |
|  Two Harbors Investment Corp. (REIT)(x) | 67000 | 661290 |
|  |  | 13258593 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 282733984 |
|  **Health Care (15.9%)** |  |  |
|  ***Biotechnology (7.5%)*** |  |  |
|  4D Molecular Therapeutics, Inc.(x)\* | 32690 | 284076 |
|  89bio, Inc.\* | 61550 | 904785 |
|  Abeona Therapeutics, Inc.\* | 8960 | 47309 |
|  Absci Corp.(x)\* | 96450 | 293208 |
|  ACADIA Pharmaceuticals, Inc.\* | 69530 | 1483770 |
|  Actuate Therapeutics, Inc.\* | 940 | 6289 |
|  ADC Therapeutics SA\* | 16530 | 66120 |
|  ADMA Biologics, Inc.\* | 130250 | 1909465 |
|  Agios Pharmaceuticals, Inc.\* | 32000 | 1284480 |
|  Akebia Therapeutics, Inc.(x)\* | 139670 | 381299 |
|  Akero Therapeutics, Inc.\* | 39050 | 1854094 |
|  Aldeyra Therapeutics, Inc.\* | 34100 | 178002 |
|  Alector, Inc.\* | 49570 | 146727 |
|  Alkermes plc\* | 94840 | 2845200 |
|  Allogene Therapeutics, Inc.(x)\* | 140441 | 174147 |
|  Altimmune, Inc.(x)\* | 43300 | 163241 |
|  Amicus Therapeutics, Inc.\* | 164780 | 1298466 |
|  AnaptysBio, Inc.(x)\* | 14000 | 428680 |
|  Anavex Life Sciences Corp.(x)\* | 45920 | 408688 |
|  Anika Therapeutics, Inc.\* | 11700 | 109980 |
|  Annexon, Inc.\* | 81310 | 247995 |
|  Apogee Therapeutics, Inc.\* | 22120 | 878828 |
|  Arbutus Biopharma Corp.\* | 79900 | 362746 |
|  Arcellx, Inc.\* | 24210 | 1987641 |
|  Arcturus Therapeutics Holdings, Inc.\* | 17120 | 315522 |
|  Arcus Biosciences, Inc.\* | 25900 | 352240 |
|  Arcutis Biotherapeutics, Inc.\* | 59660 | 1124591 |
|  Ardelyx, Inc.\* | 158280 | 872123 |
|  ArriVent Biopharma, Inc.\* | 15680 | 289296 |
|  Arrowhead Pharmaceuticals, Inc.\* | 73090 | 2520874 |
|  ARS Pharmaceuticals, Inc.(x)\* | 27230 | 273661 |
|  Astria Therapeutics, Inc.\* | 30600 | 222768 |
|  aTyr Pharma, Inc.(x)\* | 27600 | 19911 |
|  Aura Biosciences, Inc.(x)\* | 20350 | 125763 |
|  Aurinia Pharmaceuticals, Inc.\* | 67600 | 746980 |
|  Avidity Biosciences, Inc.\* | 60570 | 2639035 |
|  Avita Medical, Inc.(x)\* | 11520 | 58867 |
|  Beam Therapeutics, Inc.(x)\* | 50600 | 1228062 |
|  Benitec Biopharma, Inc.\* | 1040 | 14591 |
|  Bicara Therapeutics, Inc.\* | 21580 | 340748 |
|  BioCryst Pharmaceuticals, Inc.\* | 139430 | 1058274 |
|  Biohaven Ltd.\* | 47120 | 707271 |
|  Bridgebio Pharma, Inc.\* | 87361 | 4537530 |
|  Bright Minds Biosciences, Inc.\* | 190 | 11525 |
|  Candel Therapeutics, Inc.(x)\* | 34890 | 177939 |
|  Capricor Therapeutics, Inc.(x)\* | 46510 | 335337 |
|  Cardiff Oncology, Inc.\* | 30180 | 62171 |
|  CareDx, Inc.\* | 25150 | 365681 |
|  Cartesian Therapeutics, Inc.(x)\* | 5808 | 59358 |
|  Catalyst Pharmaceuticals, Inc.\* | 59820 | 1178454 |
|  Celcuity, Inc.\* | 17530 | 865982 |
|  Celldex Therapeutics, Inc.\* | 36270 | 938305 |
|  CG oncology, Inc.(x)\* | 26390 | 1062989 |
|  Cidara Therapeutics, Inc.\* | 9390 | 899186 |
|  Cogent Biosciences, Inc.\* | 59640 | 856430 |
|  Coherus Oncology, Inc.(x)\* | 119670 | 196259 |
|  Compass Therapeutics, Inc.\* | 40780 | 142730 |
|  Corvus Pharmaceuticals, Inc.(x)\* | 8560 | 63087 |
|  CRISPR Therapeutics AG(x)\* | 46240 | 2996814 |
|  Cullinan Therapeutics, Inc.\* | 24240 | 143743 |
|  Cytokinetics, Inc.\* | 62730 | 3447641 |
|  Day One Biopharmaceuticals, Inc.\* | 33500 | 236175 |
|  Denali Therapeutics, Inc.\* | 69810 | 1013641 |
|  Design Therapeutics, Inc.(x)\* | 30680 | 231020 |
|  DiaMedica Therapeutics, Inc.\* | 1340 | 9206 |
|  Dianthus Therapeutics, Inc.\* | 13420 | 528077 |
|  Disc Medicine, Inc.\* | 12510 | 826661 |
|  Dynavax Technologies Corp.(x)\* | 69210 | 687255 |
|  Dyne Therapeutics, Inc.\* | 45320 | 573298 |
|  Editas Medicine, Inc.\* | 83680 | 290370 |
|  Eledon Pharmaceuticals, Inc.\* | 2330 | 6035 |
|  Emergent BioSolutions, Inc.\* | 9540 | 84143 |
|  Enanta Pharmaceuticals, Inc.\* | 21930 | 262502 |
|  Entrada Therapeutics, Inc.\* | 13440 | 77952 |
|  Erasca, Inc.\* | 119880 | 261338 |
|  Fate Therapeutics, Inc.\* | 88970 | 112102 |
|  Fennec Pharmaceuticals, Inc.\* | 5340 | 49982 |
|  Foghorn Therapeutics, Inc.\* | 16070 | 78582 |
|  Geron Corp.\* | 323381 | 443032 |
|  Gossamer Bio, Inc.\* | 13210 | 34742 |
|  GRAIL, Inc.(x)\* | 17040 | 1007575 |
|  Greenwich Lifesciences, Inc.\* | 740 | 7363 |
|  Gyre Therapeutics, Inc.(x)\* | 10260 | 76540 |
|  Heron Therapeutics, Inc.(x)\* | 106560 | 134266 |
|  Humacyte, Inc.(x)\* | 90790 | 157975 |
|  Ideaya Biosciences, Inc.\* | 46320 | 1260367 |
|  ImmunityBio, Inc.(x)\* | 128510 | 316135 |
|  Immunome, Inc.(x)\* | 28870 | 338068 |
|  Immunovant, Inc.\* | 38170 | 615300 |
|  Inhibikase Therapeutics, Inc.(x)\* | 1440 | 2333 |
|  Inhibrx Biosciences, Inc.\* | 10350 | 348588 |
|  Inmune Bio, Inc.(x)\* | 12290 | 25440 |
|  Intellia Therapeutics, Inc.(x)\* | 54100 | 934307 |
|  Iovance Biotherapeutics, Inc.(x)\* | 133910 | 290585 |
|  Ironwood Pharmaceuticals, Inc., Class A\* | 96380 | 126258 |
|  Jade Biosciences, Inc.(x) | 6107 | 52703 |
|  Janux Therapeutics, Inc.\* | 22000 | 537680 |
|  KalVista Pharmaceuticals, Inc.\* | 23890 | 290980 |

---

See Notes to Portfolio of Investments.

803

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Keros Therapeutics, Inc.\* | 16550 | $261821 |
|  Kodiak Sciences, Inc.\* | 40670 | 665768 |
|  Korro Bio, Inc.\* | 4760 | 227956 |
|  Krystal Biotech, Inc.\* | 13930 | 2459063 |
|  Kura Oncology, Inc.\* | 37730 | 333911 |
|  Kymera Therapeutics, Inc.\* | 25140 | 1422924 |
|  Larimar Therapeutics, Inc.\* | 39900 | 128877 |
|  Lexeo Therapeutics, Inc.\* | 16170 | 107369 |
|  Madrigal Pharmaceuticals, Inc.\* | 9850 | 4517801 |
|  MannKind Corp.\* | 148910 | 799647 |
|  MeiraGTx Holdings plc\* | 31450 | 258834 |
|  Metsera, Inc.(x)\* | 27845 | 1457129 |
|  MiMedx Group, Inc.\* | 64300 | 448814 |
|  Mineralys Therapeutics, Inc.\* | 14110 | 535051 |
|  Mirum Pharmaceuticals, Inc.\* | 22030 | 1615019 |
|  Monopar Therapeutics, Inc.\* | 1030 | 84120 |
|  Monte Rosa Therapeutics, Inc.(x)\* | 36220 | 268390 |
|  Myriad Genetics, Inc.\* | 46890 | 339015 |
|  Neurogene, Inc.(x)\* | 6640 | 115071 |
|  Nkarta, Inc.\* | 48500 | 100395 |
|  Novavax, Inc.(x)\* | 79330 | 687791 |
|  Nurix Therapeutics, Inc.\* | 33980 | 313975 |
|  Nuvalent, Inc., Class A\* | 24010 | 2076385 |
|  Nuvectis Pharma, Inc.(x)\* | 980 | 5900 |
|  Olema Pharmaceuticals, Inc.\* | 46510 | 455333 |
|  Organogenesis Holdings, Inc., Class A\* | 87450 | 369039 |
|  ORIC Pharmaceuticals, Inc.(x)\* | 34790 | 417480 |
|  Oruka Therapeutics, Inc.(x)\* | 1630 | 31345 |
|  Palvella Therapeutics, Inc.(x)\* | 2220 | 139172 |
|  PDL BioPharma, Inc.(r)\* | 111727 |  |
|  Perspective Therapeutics, Inc.(x)\* | 43500 | 149205 |
|  Praxis Precision Medicines, Inc.\* | 9680 | 513040 |
|  Precigen, Inc.(x)\* | 139660 | 459481 |
|  Prime Medicine, Inc.\* | 85930 | 476052 |
|  Protagonist Therapeutics, Inc.\* | 37170 | 2469203 |
|  Protalix BioTherapeutics, Inc.\* | 5860 | 13009 |
|  Protara Therapeutics, Inc.(x)\* | 2510 | 10918 |
|  Prothena Corp. plc\* | 41240 | 402502 |
|  PTC Therapeutics, Inc.\* | 46970 | 2882549 |
|  Puma Biotechnology, Inc.\* | 6900 | 36639 |
|  Recursion Pharmaceuticals, Inc., Class A(x)\* | 189701 | 925741 |
|  REGENXBIO, Inc.\* | 34730 | 335144 |
|  Relay Therapeutics, Inc.\* | 66980 | 349636 |
|  Replimune Group, Inc.\* | 36980 | 154946 |
|  Rezolute, Inc.\* | 8070 | 75858 |
|  Rhythm Pharmaceuticals, Inc.\* | 30580 | 3088274 |
|  Rigel Pharmaceuticals, Inc.\* | 23844 | 675501 |
|  Rocket Pharmaceuticals, Inc.\* | 90140 | 293856 |
|  Sana Biotechnology, Inc.\* | 100550 | 356953 |
|  Savara, Inc.\* | 67280 | 240190 |
|  Scholar Rock Holding Corp.\* | 42530 | 1583817 |
|  SELLAS Life Sciences Group, Inc.(x)\* | 24980 | 40218 |
|  Sionna Therapeutics, Inc.\* | 1310 | 38527 |
|  Soleno Therapeutics, Inc.(x)\* | 22450 | 1517620 |
|  Solid Biosciences, Inc.\* | 46880 | 289250 |
|  Spyre Therapeutics, Inc.(x)\* | 19440 | 325814 |
|  Stoke Therapeutics, Inc.\* | 22610 | 531335 |
|  Syndax Pharmaceuticals, Inc.\* | 44110 | 678632 |
|  Tango Therapeutics, Inc.(x)\* | 71630 | 601692 |
|  Taysha Gene Therapies, Inc.\* | 99710 | 326052 |
|  Tectonic Therapeutic, Inc.\* | 1720 | 26987 |
|  Tevogen Bio Holdings, Inc.(x)\* | 19190 | 15070 |
|  TG Therapeutics, Inc.(x)\* | 81140 | 2931183 |
|  Tonix Pharmaceuticals Holding Corp.\* | 7710 | 186274 |
|  Tourmaline Bio, Inc.\* | 13440 | 642835 |
|  Travere Therapeutics, Inc.\* | 49250 | 1177075 |
|  TriSalus Life Sciences, Inc.\* | 580 | 2697 |
|  TuHURA Biosciences, Inc.(x)\* | 2570 | 6374 |
|  Twist Bioscience Corp.\* | 30922 | 870145 |
|  Tyra Biosciences, Inc.(x)\* | 17650 | 246924 |
|  Upstream Bio, Inc.(x)\* | 9710 | 182645 |
|  UroGen Pharma Ltd.\* | 18000 | 359100 |
|  Vanda Pharmaceuticals, Inc.\* | 60370 | 301246 |
|  Vaxcyte, Inc.\* | 66892 | 2409450 |
|  Vera Therapeutics, Inc., Class A\* | 28750 | 835475 |
|  Veracyte, Inc.\* | 47090 | 1616600 |
|  Verastem, Inc.\* | 50220 | 443443 |
|  Vericel Corp.\* | 25460 | 801226 |
|  Vir Biotechnology, Inc.\* | 44720 | 255351 |
|  Viridian Therapeutics, Inc.\* | 35140 | 758321 |
|  Voyager Therapeutics, Inc.\* | 25910 | 121000 |
|  Xencor, Inc.\* | 32400 | 380052 |
|  Xenon Pharmaceuticals, Inc.\* | 42450 | 1704368 |
|  XOMA Royalty Corp.\* | 1780 | 68601 |
|  Zenas Biopharma, Inc.(x)\* | 8830 | 196026 |
|  Zymeworks, Inc.\* | 24460 | 417777 |
|  |  | 118766844 |
|  ***Health Care Equipment & Supplies (2.4%)*** |  |  |
|  Accuray, Inc.\* | 26910 | 44940 |
|  Alphatec Holdings, Inc.\* | 64800 | 942192 |
|  AngioDynamics, Inc.\* | 30160 | 336887 |
|  Anteris Technologies Global Corp.(x)\* | 2300 | 10350 |
|  Artivion, Inc.\* | 29338 | 1242171 |
|  AtriCure, Inc.\* | 27900 | 983475 |
|  Avanos Medical, Inc.\* | 26400 | 305184 |
|  Axogen, Inc.\* | 30540 | 544834 |
|  Beta Bionics, Inc.(x)\* | 10300 | 204661 |
|  Bioventus, Inc., Class A\* | 8930 | 59742 |
|  Butterfly Network, Inc., Class A\* | 31100 | 60023 |
|  Ceribell, Inc.\* | 3100 | 35619 |
|  Cerus Corp.\* | 106950 | 170050 |
|  ClearPoint Neuro, Inc.(x)\* | 3200 | 69728 |
|  CONMED Corp. | 21187 | 996425 |
|  CVRx, Inc.\* | 6080 | 49066 |
|  Delcath Systems, Inc.\* | 5300 | 56975 |
|  Electromed, Inc.\* | 1900 | 46645 |
|  Embecta Corp. | 28900 | 407779 |
|  Enovis Corp.(x)\* | 31900 | 967846 |
|  Glaukos Corp.\* | 31282 | 2551047 |
|  Haemonetics Corp.\* | 28180 | 1373493 |
|  ICU Medical, Inc.\* | 13540 | 1624258 |
|  Inogen, Inc.\* | 23240 | 189871 |
|  Integer Holdings Corp.\* | 19288 | 1993029 |
|  Integra LifeSciences Holdings Corp.\* | 38490 | 551562 |
|  iRadimed Corp. | 4900 | 348684 |
|  iRhythm Technologies, Inc.\* | 17560 | 3020144 |
|  Kestra Medical Technologies Ltd.(x)\* | 2800 | 66528 |
|  KORU Medical Systems, Inc.\* | 1800 | 6894 |
|  Lantheus Holdings, Inc.\* | 37500 | 1923375 |
|  LeMaitre Vascular, Inc. | 11390 | 996739 |
|  LENSAR, Inc.\* | 2700 | 33345 |
|  LivaNova plc\* | 30630 | 1604399 |
|  Lucid Diagnostics, Inc.\* | 11100 | 11211 |
|  Merit Medical Systems, Inc.\* | 34637 | 2882837 |
|  Myomo, Inc.(x)\* | 6000 | 5352 |
|  Neogen Corp.\* | 122523 | 699606 |
|  Neuronetics, Inc.(x)\* | 16800 | 45864 |
|  NeuroPace, Inc.\* | 4170 | 42993 |
|  Novocure Ltd.\* | 59800 | 772616 |
|  Omnicell, Inc.\* | 33055 | 1006525 |

---

See Notes to Portfolio of Investments.

804

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  OraSure Technologies, Inc.\* | 70386 | $225939 |
|  Orthofix Medical, Inc.\* | 23334 | 341610 |
|  OrthoPediatrics Corp.\* | 7550 | 139901 |
|  Outset Medical, Inc.(x)\* | 4000 | 56480 |
|  PROCEPT BioRobotics Corp.\* | 29340 | 1047145 |
|  Pro-Dex, Inc.(x)\* | 1400 | 47390 |
|  Pulmonx Corp.\* | 22890 | 37082 |
|  Pulse Biosciences, Inc.\* | 8510 | 150627 |
|  QuidelOrtho Corp.\* | 37900 | 1116155 |
|  RxSight, Inc.\* | 19100 | 171709 |
|  Sanara Medtech, Inc.\* | 1510 | 47912 |
|  SANUWAVE Health, Inc.\* | 1100 | 41228 |
|  Semler Scientific, Inc.(x)\* | 6800 | 204000 |
|  SI-BONE, Inc.\* | 36700 | 540224 |
|  Sight Sciences, Inc.\* | 20890 | 71862 |
|  STAAR Surgical Co.\* | 30780 | 827059 |
|  Stereotaxis, Inc.\* | 8390 | 26093 |
|  Surmodics, Inc.\* | 8321 | 248715 |
|  Tactile Systems Technology, Inc.\* | 22400 | 310016 |
|  Tandem Diabetes Care, Inc.\* | 36370 | 441532 |
|  TransMedics Group, Inc.(x)\* | 18030 | 2022966 |
|  Treace Medical Concepts, Inc.\* | 35250 | 236527 |
|  UFP Technologies, Inc.\* | 3990 | 796404 |
|  Utah Medical Products, Inc. | 2750 | 173167 |
|  Varex Imaging Corp.\* | 20500 | 254200 |
|  Zimvie, Inc.\* | 16830 | 318760 |
|  |  | 39179667 |
|  ***Health Care Providers & Services (3.2%)*** |  |  |
|  AdaptHealth Corp., Class A\* | 57167 | 511645 |
|  Addus HomeCare Corp.\* | 9700 | 1144503 |
|  agilon health, Inc.\* | 173240 | 178437 |
|  AirSculpt Technologies, Inc.(x)\* | 30810 | 247096 |
|  Alignment Healthcare, Inc.\* | 71350 | 1245058 |
|  AMN Healthcare Services, Inc.\* | 22500 | 435600 |
|  Ardent Health, Inc.\* | 6200 | 82150 |
|  Astrana Health, Inc.(x)\* | 23200 | 657720 |
|  Aveanna Healthcare Holdings, Inc.\* | 44370 | 393562 |
|  BrightSpring Health Services, Inc.\* | 47260 | 1397006 |
|  Brookdale Senior Living, Inc.\* | 128300 | 1086701 |
|  Castle Biosciences, Inc.\* | 21550 | 490694 |
|  Clover Health Investments Corp., Class A(x)\* | 225600 | 690336 |
|  Community Health Systems, Inc.\* | 68700 | 220527 |
|  Concentra Group Holdings Parent, Inc. | 60388 | 1263921 |
|  CorVel Corp.\* | 16300 | 1261946 |
|  Cross Country Healthcare, Inc.\* | 19715 | 279953 |
|  DocGo, Inc.\* | 66590 | 90562 |
|  Enhabit, Inc.\* | 23430 | 187674 |
|  Ensign Group, Inc. (The) | 31170 | 5385241 |
|  Fulgent Genetics, Inc.\* | 12900 | 291540 |
|  GeneDx Holdings Corp., Class A\* | 10450 | 1125883 |
|  Guardant Health, Inc.\* | 66270 | 4140550 |
|  HealthEquity, Inc.\* | 47540 | 4505366 |
|  Hims & Hers Health, Inc.(x)\* | 106570 | 6044650 |
|  Innovage Holding Corp.\* | 25970 | 134005 |
|  Joint Corp. (The)\* | 13680 | 130507 |
|  LifeStance Health Group, Inc.\* | 81300 | 447150 |
|  Nano-X Imaging Ltd.(x)\* | 43610 | 161357 |
|  National HealthCare Corp. | 7300 | 887023 |
|  National Research Corp. | 9725 | 124285 |
|  NeoGenomics, Inc.\* | 80540 | 621769 |
|  Nutex Health, Inc.(x)\* | 1600 | 165312 |
|  Oncology Institute, Inc. (The)\* | 42600 | 148674 |
|  OPKO Health, Inc.\* | 196300 | 304265 |
|  Option Care Health, Inc.\* | 94925 | 2635118 |
|  Owens & Minor, Inc.\* | 37000 | 177600 |
|  PACS Group, Inc.\* | 21970 | 301648 |
|  Pediatrix Medical Group, Inc.\* | 48100 | 805675 |
|  Pennant Group, Inc. (The)\* | 17110 | 431514 |
|  Performant Healthcare, Inc.(x)\* | 3230 | 24968 |
|  Premier, Inc., Class A | 51100 | 1420580 |
|  Privia Health Group, Inc.\* | 59176 | 1473482 |
|  Progyny, Inc.\* | 47420 | 1020478 |
|  RadNet, Inc.\* | 37130 | 2829677 |
|  SBC Medical Group Holdings, Inc.(x)\* | 2800 | 12152 |
|  Select Medical Holdings Corp. | 59703 | 766587 |
|  Sonida Senior Living, Inc.\* | 1860 | 51559 |
|  Surgery Partners, Inc.\* | 43130 | 933333 |
|  Talkspace, Inc.\* | 57980 | 160025 |
|  US Physical Therapy, Inc. | 9887 | 839901 |
|  Viemed Healthcare, Inc.\* | 4260 | 28925 |
|  |  | 50395890 |
|  ***Health Care Technology (0.4%)*** |  |  |
|  Claritev Corp.(x)\* | 1200 | 63696 |
|  Definitive Healthcare Corp., Class A\* | 62260 | 252776 |
|  Evolent Health, Inc., Class A\* | 62650 | 530019 |
|  Health Catalyst, Inc.\* | 33140 | 94449 |
|  HealthStream, Inc. | 13000 | 367120 |
|  LifeMD, Inc.(x)\* | 28730 | 195077 |
|  OptimizeRx Corp.\* | 27900 | 571950 |
|  Phreesia, Inc.\* | 30800 | 724416 |
|  Schrodinger, Inc.\* | 28835 | 578430 |
|  Simulations Plus, Inc.\* | 6900 | 103983 |
|  Teladoc Health, Inc.(x)\* | 95600 | 738988 |
|  Waystar Holding Corp.\* | 50910 | 1930507 |
|  |  | 6151411 |
|  ***Life Sciences Tools & Services (0.4%)*** |  |  |
|  10X Genomics, Inc., Class A(x)\* | 59000 | 689710 |
|  Adaptive Biotechnologies Corp.\* | 83500 | 1249160 |
|  Alpha Teknova, Inc.\* | 2500 | 15475 |
|  Azenta, Inc.\* | 22800 | 654816 |
|  BioLife Solutions, Inc.\* | 17850 | 455353 |
|  Codexis, Inc.\* | 65790 | 160528 |
|  CryoPort, Inc.\* | 27870 | 264208 |
|  Cytek Biosciences, Inc.\* | 100875 | 350036 |
|  Fortrea Holdings, Inc.\* | 26200 | 220604 |
|  Ginkgo Bioworks Holdings, Inc., Class A\* | 10530 | 153527 |
|  Lifecore Biomedical, Inc.\* | 6090 | 44822 |
|  Maravai LifeSciences Holdings, Inc., Class A\* | 78730 | 225955 |
|  MaxCyte, Inc.\* | 60760 | 96001 |
|  Mesa Laboratories, Inc. | 2400 | 160824 |
|  Niagen Bioscience, Inc.\* | 29150 | 271970 |
|  OmniAb, Inc.\* | 73958 | 118333 |
|  Pacific Biosciences of California, Inc.\* | 227310 | 290957 |
|  Personalis, Inc.\* | 10400 | 67808 |
|  Quanterix Corp.(x)\* | 27200 | 147696 |
|  Quantum-Si, Inc.(x)\* | 136320 | 192211 |
|  Standard BioTools, Inc.\* | 169430 | 220259 |
|  |  | 6050253 |
|  ***Pharmaceuticals (2.0%)*** |  |  |
|  Aardvark Therapeutics, Inc.\* | 500 | 6645 |
|  Aclaris Therapeutics, Inc.\* | 7600 | 14440 |
|  Alumis, Inc.\* | 40512 | 161643 |
|  Amneal Pharmaceuticals, Inc.\* | 93066 | 931591 |
|  Amphastar Pharmaceuticals, Inc.\* | 20500 | 546325 |
|  Amylyx Pharmaceuticals, Inc.\* | 39000 | 530010 |
|  ANI Pharmaceuticals, Inc.\* | 10380 | 950808 |
|  Aquestive Therapeutics, Inc.(x)\* | 53980 | 301748 |
|  Arvinas, Inc.\* | 36080 | 307402 |
|  Atea Pharmaceuticals, Inc.\* | 69590 | 201811 |

---

See Notes to Portfolio of Investments.

805

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Avadel Pharmaceuticals plc (ADR)\* | 51900 | $792513 |
|  Axsome Therapeutics, Inc.\* | 22330 | 2711979 |
|  BioAge Labs, Inc.\* | 4000 | 23520 |
|  Biote Corp., Class A\* | 5300 | 15900 |
|  Collegium Pharmaceutical, Inc.\* | 21600 | 755784 |
|  CorMedix, Inc.(x)\* | 35910 | 417633 |
|  Crinetics Pharmaceuticals, Inc.\* | 48110 | 2003781 |
|  Edgewise Therapeutics, Inc.\* | 40770 | 661289 |
|  Enliven Therapeutics, Inc.\* | 19770 | 404692 |
|  Esperion Therapeutics, Inc.\* | 162730 | 431234 |
|  Eton Pharmaceuticals, Inc.\* | 4800 | 104304 |
|  Evolus, Inc.\* | 33100 | 203234 |
|  EyePoint Pharmaceuticals, Inc.\* | 31760 | 452262 |
|  Fulcrum Therapeutics, Inc.\* | 39360 | 362112 |
|  Harmony Biosciences Holdings, Inc.\* | 24420 | 673015 |
|  Harrow, Inc.(x)\* | 15170 | 730891 |
|  Indivior plc\* | 67800 | 1634658 |
|  Innoviva, Inc.\* | 31200 | 569400 |
|  Journey Medical Corp.\* | 1100 | 7832 |
|  LENZ Therapeutics, Inc.\* | 7798 | 363231 |
|  Ligand Pharmaceuticals, Inc.\* | 9726 | 1722864 |
|  Liquidia Corp.\* | 37000 | 841380 |
|  Maze Therapeutics, Inc.(x)\* | 4400 | 114092 |
|  MBX Biosciences, Inc.\* | 5100 | 89250 |
|  MediWound Ltd.\* | 2150 | 38743 |
|  Mind Medicine MindMed, Inc.\* | 40430 | 476670 |
|  Nuvation Bio, Inc.(x)\* | 117730 | 435601 |
|  Ocular Therapeutix, Inc.\* | 87380 | 1021472 |
|  Omeros Corp.(x)\* | 38990 | 159859 |
|  Pacira BioSciences, Inc.\* | 22400 | 577248 |
|  Phathom Pharmaceuticals, Inc.\* | 25980 | 305785 |
|  Phibro Animal Health Corp., Class A | 14740 | 596380 |
|  Prestige Consumer Healthcare, Inc.\* | 30000 | 1872000 |
|  Rapport Therapeutics, Inc.\* | 6450 | 191565 |
|  scPharmaceuticals, Inc.\* | 11540 | 65432 |
|  Septerna, Inc.(x)\* | 9400 | 176814 |
|  SIGA Technologies, Inc. | 32920 | 301218 |
|  Supernus Pharmaceuticals, Inc.\* | 26600 | 1271214 |
|  Tarsus Pharmaceuticals, Inc.\* | 20660 | 1227824 |
|  Terns Pharmaceuticals, Inc.\* | 45820 | 344108 |
|  Theravance Biopharma, Inc.\* | 34900 | 509540 |
|  Third Harmonic Bio, Inc.(r)\* | 13110 |  |
|  Trevi Therapeutics, Inc.(x)\* | 67600 | 618540 |
|  Tvardi Therapeutics, Inc.(x)\* | 800 | 31176 |
|  WaVe Life Sciences Ltd.\* | 50560 | 370099 |
|  Xeris Biopharma Holdings, Inc.\* | 77120 | 627757 |
|  Zevra Therapeutics, Inc.\* | 45430 | 432039 |
|  |  | 31690357 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 252234422 |
|  **Industrials (17.7%)** |  |  |
|  ***Aerospace & Defense (1.9%)*** |  |  |
|  AAR Corp.\* | 19112 | 1713773 |
|  AeroVironment, Inc.\* | 17752 | 5589927 |
|  AerSale Corp.\* | 30850 | 252662 |
|  Archer Aviation, Inc., Class A\* | 304650 | 2918547 |
|  Astronics Corp.\* | 16910 | 771265 |
|  Byrna Technologies, Inc.(x)\* | 10120 | 224259 |
|  Cadre Holdings, Inc. | 14620 | 533776 |
|  Ducommun, Inc.\* | 7620 | 732511 |
|  Eve Holding, Inc.(x)\* | 17050 | 64961 |
|  Intuitive Machines, Inc.(x)\* | 61140 | 643193 |
|  Kratos Defense & Security Solutions, Inc.\* | 92560 | 8457207 |
|  Mercury Systems, Inc.\* | 30780 | 2382372 |
|  Moog, Inc., Class A | 15433 | 3204971 |
|  National Presto Industries, Inc. | 2410 | 270281 |
|  Park Aerospace Corp. | 12892 | 262223 |
|  Redwire Corp.(x)\* | 30160 | 271138 |
|  Satellogic, Inc., Class A(x)\* | 13460 | 44149 |
|  V2X, Inc.\* | 9150 | 531524 |
|  VSE Corp. | 11350 | 1886824 |
|  |  | 30755563 |
|  ***Air Freight & Logistics (0.1%)*** |  |  |
|  Forward Air Corp.(x)\* | 17240 | 442033 |
|  Hub Group, Inc., Class A | 32006 | 1102287 |
|  Radiant Logistics, Inc.\* | 21130 | 124667 |
|  |  | 1668987 |
|  ***Building Products (1.4%)*** |  |  |
|  American Woodmark Corp.\* | 9600 | 640896 |
|  Apogee Enterprises, Inc. | 11160 | 486241 |
|  AZZ, Inc. | 16486 | 1799117 |
|  CSW Industrials, Inc. | 9220 | 2238155 |
|  Gibraltar Industries, Inc.\* | 18300 | 1149240 |
|  Griffon Corp. | 21063 | 1603948 |
|  Insteel Industries, Inc. | 7920 | 303653 |
|  Janus International Group, Inc.\* | 79670 | 786343 |
|  JELD-WEN Holding, Inc.\* | 74196 | 364302 |
|  Masterbrand, Inc.\* | 69310 | 912813 |
|  Quanex Building Products Corp. | 25027 | 355884 |
|  Resideo Technologies, Inc.\* | 90850 | 3922903 |
|  Tecnoglass, Inc. | 12620 | 844404 |
|  UFP Industries, Inc. | 33982 | 3176977 |
|  Zurn Elkay Water Solutions Corp. | 84030 | 3951931 |
|  |  | 22536807 |
|  ***Commercial Services & Supplies (1.6%)*** |  |  |
|  ABM Industries, Inc. | 37032 | 1707916 |
|  ACCO Brands Corp. | 53536 | 213609 |
|  Acme United Corp.(x) | 560 | 23061 |
|  ACV Auctions, Inc., Class A\* | 93850 | 930054 |
|  BrightView Holdings, Inc.\* | 24840 | 332856 |
|  Brink's Co. (The) | 25240 | 2949546 |
|  Casella Waste Systems, Inc., Class A\* | 34350 | 3259128 |
|  CECO Environmental Corp.\* | 15880 | 813056 |
|  Cimpress plc\* | 10000 | 630400 |
|  CompX International, Inc.(x) | 780 | 18252 |
|  CoreCivic, Inc.\* | 60290 | 1226902 |
|  Deluxe Corp.(x) | 28261 | 547133 |
|  Driven Brands Holdings, Inc.\* | 33650 | 542102 |
|  Ennis, Inc. | 19906 | 363882 |
|  Enviri Corp.\* | 46800 | 593892 |
|  GEO Group, Inc. (The)\* | 76420 | 1565846 |
|  Healthcare Services Group, Inc.\* | 39869 | 670995 |
|  HNI Corp. | 27112 | 1270197 |
|  Interface, Inc., Class A | 29998 | 868142 |
|  Liquidity Services, Inc.\* | 11790 | 323400 |
|  MillerKnoll, Inc. | 41589 | 737789 |
|  Mobile Infrastructure Corp., Class A(x)\* | 1310 | 4611 |
|  Montrose Environmental Group, Inc.\* | 14920 | 409703 |
|  NL Industries, Inc. | 7775 | 47816 |
|  OPENLANE, Inc.\* | 57130 | 1644201 |
|  Perma-Fix Environmental Services, Inc.(x)\* | 4900 | 49490 |
|  Pitney Bowes, Inc.(x) | 92900 | 1059989 |
|  Quad/Graphics, Inc. | 12640 | 79126 |
|  Steelcase, Inc., Class A | 47972 | 825118 |
|  UniFirst Corp. | 8805 | 1472108 |
|  Vestis Corp. | 64470 | 292049 |
|  Virco Mfg. Corp.(x) | 7340 | 56885 |
|  |  | 25529254 |
|  ***Construction & Engineering (2.4%)*** |  |  |
|  Ameresco, Inc., Class A\* | 30310 | 1017810 |
|  Arcosa, Inc. | 27700 | 2595767 |

---

See Notes to Portfolio of Investments.

806

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Argan, Inc. | 7450 | $2011872 |
|  Bowman Consulting Group Ltd., Class A\* | 6620 | 280423 |
|  Centuri Holdings, Inc.\* | 17820 | 377249 |
|  Concrete Pumping Holdings, Inc. | 10730 | 75647 |
|  Construction Partners, Inc., Class A\* | 26230 | 3331210 |
|  Dycom Industries, Inc.\* | 15276 | 4456926 |
|  Fluor Corp.\* | 95890 | 4034092 |
|  Granite Construction, Inc.(x) | 23215 | 2545525 |
|  Great Lakes Dredge & Dock Corp.\* | 31400 | 376486 |
|  IES Holdings, Inc.(x)\* | 5050 | 2008133 |
|  Limbach Holdings, Inc.(x)\* | 5740 | 557469 |
|  Matrix Service Co.\* | 8800 | 115104 |
|  MYR Group, Inc.\* | 8540 | 1776576 |
|  NWPX Infrastructure, Inc.\* | 3410 | 180491 |
|  Orion Group Holdings, Inc.\* | 11440 | 95181 |
|  Primoris Services Corp. | 30250 | 4154232 |
|  Southland Holdings, Inc.\* | 2720 | 11669 |
|  Sterling Infrastructure, Inc.\* | 16980 | 5767766 |
|  Tutor Perini Corp.\* | 29635 | 1943760 |
|  |  | 37713388 |
|  ***Electrical Equipment (2.3%)*** |  |  |
|  Allient, Inc. | 6520 | 291770 |
|  American Superconductor Corp.\* | 19170 | 1138506 |
|  Amprius Technologies, Inc.(x)\* | 81620 | 858642 |
|  Array Technologies, Inc.(x)\* | 78200 | 637330 |
|  Atkore, Inc. | 19920 | 1249781 |
|  Bloom Energy Corp., Class A\* | 114800 | 9708636 |
|  Complete Solaria, Inc.\* | 29200 | 51392 |
|  EnerSys | 21829 | 2465804 |
|  Enovix Corp.(x)\* | 83470 | 832196 |
|  Eos Energy Enterprises, Inc.\* | 124300 | 1415777 |
|  Fluence Energy, Inc., Class A(x)\* | 31690 | 342252 |
|  Hyliion Holdings Corp.(x)\* | 100820 | 198615 |
|  KULR Technology Group, Inc.\* | 28900 | 120224 |
|  LSI Industries, Inc. | 15720 | 371149 |
|  NANO Nuclear Energy, Inc.(x)\* | 13500 | 520560 |
|  Net Power, Inc.(x)\* | 77960 | 234660 |
|  NEXTracker, Inc., Class A\* | 80262 | 5938585 |
|  NuScale Power Corp., Class A(x)\* | 70820 | 2549520 |
|  Plug Power, Inc.(x)\* | 437480 | 1019328 |
|  Powell Industries, Inc.(x) | 4960 | 1511858 |
|  Power Solutions International, Inc.\* | 3700 | 363414 |
|  Preformed Line Products Co. | 2590 | 508029 |
|  Shoals Technologies Group, Inc., Class A\* | 85950 | 636890 |
|  SKYX Platforms Corp.(x)\* | 15000 | 16800 |
|  Sunrun, Inc.\* | 122760 | 2122520 |
|  T1 Energy, Inc.\* | 72760 | 158617 |
|  Thermon Group Holdings, Inc.\* | 17300 | 462256 |
|  Vicor Corp.\* | 11860 | 589679 |
|  |  | 36314790 |
|  ***Ground Transportation (0.3%)*** |  |  |
|  ArcBest Corp. | 12730 | 889445 |
|  Covenant Logistics Group, Inc., Class A | 9580 | 207503 |
|  FTAI Infrastructure, Inc.(x) | 52920 | 230731 |
|  Heartland Express, Inc. | 24655 | 206609 |
|  Hertz Global Holdings, Inc.(x)\* | 67450 | 458660 |
|  Marten Transport Ltd. | 33074 | 352569 |
|  PAMT Corp.\* | 3010 | 34314 |
|  Proficient Auto Logistics, Inc.(x)\* | 7100 | 48919 |
|  RXO, Inc.\* | 87500 | 1345750 |
|  Universal Logistics Holdings, Inc.(x) | 6700 | 157048 |
|  Werner Enterprises, Inc. | 35366 | 930833 |
|  |  | 4862381 |
|  ***Industrial Conglomerates (0.0%)†*** |  |  |
|  Brookfield Business Corp., Class A | 13900 | 466067 |
|  ***Machinery (3.9%)*** |  |  |
|  3D Systems Corp.(x)\* | 121500 | 352350 |
|  Aebi Schmidt Holding AG | 16122 | 201041 |
|  AirJoule Technologies Corp.\* | 4500 | 21105 |
|  Alamo Group, Inc. | 5500 | 1049950 |
|  Albany International Corp., Class A | 16491 | 878970 |
|  Astec Industries, Inc. | 10643 | 512248 |
|  Atmus Filtration Technologies, Inc. | 44995 | 2028825 |
|  Blue Bird Corp.\* | 18050 | 1038777 |
|  Chart Industries, Inc.\* | 25271 | 5057991 |
|  Columbus McKinnon Corp. | 15090 | 216391 |
|  Douglas Dynamics, Inc. | 9560 | 298846 |
|  Eastern Co. (The) | 750 | 17595 |
|  Energy Recovery, Inc.\* | 29060 | 448105 |
|  Enerpac Tool Group Corp., Class A | 32713 | 1341233 |
|  Enpro, Inc. | 12614 | 2850764 |
|  ESCO Technologies, Inc. | 14652 | 3093184 |
|  Federal Signal Corp. | 34600 | 4117054 |
|  Franklin Electric Co., Inc. | 25022 | 2382094 |
|  Gencor Industries, Inc.\* | 2010 | 29406 |
|  Gorman-Rupp Co. (The) | 12247 | 568383 |
|  Graham Corp.\* | 3690 | 202581 |
|  Greenbrier Cos., Inc. (The) | 16400 | 757188 |
|  Helios Technologies, Inc. | 21150 | 1102549 |
|  Hillenbrand, Inc. | 41738 | 1128596 |
|  Hillman Solutions Corp.\* | 110370 | 1013197 |
|  Hyster-Yale, Inc. | 8080 | 297829 |
|  JBT Marel Corp. | 29217 | 4103528 |
|  Kadant, Inc. | 6300 | 1874754 |
|  Kennametal, Inc. | 45000 | 941850 |
|  L B Foster Co., Class A\* | 1140 | 30723 |
|  Lindsay Corp. | 6175 | 867958 |
|  Luxfer Holdings plc | 13070 | 181673 |
|  Manitowoc Co., Inc. (The)\* | 16215 | 162312 |
|  Mayville Engineering Co., Inc.\* | 9090 | 125078 |
|  Microvast Holdings, Inc.(x)\* | 111200 | 428120 |
|  Miller Industries, Inc. | 9060 | 366205 |
|  Mueller Water Products, Inc., Class A | 90093 | 2299173 |
|  Omega Flex, Inc. | 5470 | 170582 |
|  Park-Ohio Holdings Corp. | 2120 | 45029 |
|  Proto Labs, Inc.\* | 17000 | 850510 |
|  REV Group, Inc. | 28840 | 1634363 |
|  Richtech Robotics, Inc., Class B(x)\* | 197400 | 846846 |
|  SPX Technologies, Inc.\* | 25280 | 4721798 |
|  Standex International Corp. | 5819 | 1233046 |
|  Tennant Co. | 11331 | 918491 |
|  Terex Corp. | 36100 | 1851930 |
|  Titan International, Inc.\* | 26300 | 198828 |
|  Trinity Industries, Inc. | 45100 | 1264604 |
|  Wabash National Corp. | 24300 | 239841 |
|  Watts Water Technologies, Inc., Class A | 15389 | 4297840 |
|  Worthington Enterprises, Inc. | 16140 | 895609 |
|  |  | 61556943 |
|  ***Marine Transportation (0.2%)*** |  |  |
|  Costamare Bulkers Holdings Ltd.\* | 5360 | 77023 |
|  Costamare, Inc. | 26800 | 319188 |
|  Genco Shipping & Trading Ltd.(x) | 22610 | 402458 |
|  Himalaya Shipping Ltd. | 4460 | 36706 |
|  Matson, Inc. | 18470 | 1820957 |
|  Pangaea Logistics Solutions Ltd. | 12490 | 63449 |
|  Safe Bulkers, Inc. | 35690 | 158464 |
|  |  | 2878245 |
|  ***Passenger Airlines (0.6%)*** |  |  |
|  Allegiant Travel Co.\* | 7677 | 466531 |
|  Frontier Group Holdings, Inc.(x)\* | 94430 | 416909 |

---

See Notes to Portfolio of Investments.

807

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  JetBlue Airways Corp.(x)\* | 176710 | $869413 |
|  Joby Aviation, Inc.(x)\* | 257920 | 4162829 |
|  SkyWest, Inc.\* | 21670 | 2180435 |
|  Strata Critical Medical, Inc.\* | 41740 | 211204 |
|  Sun Country Airlines Holdings, Inc.\* | 28750 | 339538 |
|  |  | 8646859 |
|  ***Professional Services (1.9%)*** |  |  |
|  Acuren Corp.\* | 90525 | 1204888 |
|  Alight, Inc., Class A | 226450 | 738227 |
|  Asure Software, Inc.\* | 6240 | 51168 |
|  Barrett Business Services, Inc. | 13920 | 616934 |
|  BlackSky Technology, Inc., Class A(x)\* | 20894 | 421014 |
|  CBIZ, Inc.\* | 27600 | 1461696 |
|  Conduent, Inc.\* | 82700 | 231560 |
|  CRA International, Inc. | 3700 | 771561 |
|  CSG Systems International, Inc. | 18465 | 1188777 |
|  Exponent, Inc. | 29492 | 2049104 |
|  First Advantage Corp.\* | 44300 | 681777 |
|  Forrester Research, Inc.\* | 10200 | 108120 |
|  Franklin Covey Co.\* | 5950 | 115490 |
|  Heidrick & Struggles International, Inc. | 10650 | 530050 |
|  HireQuest, Inc.(x) | 590 | 5676 |
|  Huron Consulting Group, Inc.\* | 9694 | 1422788 |
|  IBEX Holdings Ltd.\* | 5230 | 211920 |
|  ICF International, Inc. | 10500 | 974400 |
|  Innodata, Inc.(x)\* | 16610 | 1280133 |
|  Insperity, Inc. | 18774 | 923681 |
|  Kelly Services, Inc., Class A | 15234 | 199870 |
|  Kforce, Inc. | 12200 | 365756 |
|  Korn Ferry | 27912 | 1953282 |
|  Legalzoom.com, Inc.\* | 71540 | 742585 |
|  Maximus, Inc. | 30458 | 2782947 |
|  Mistras Group, Inc.\* | 5280 | 51955 |
|  Planet Labs PBC\* | 120390 | 1562662 |
|  RCM Technologies, Inc.\* | 400 | 10620 |
|  Resolute Holdings Management, Inc.\* | 1727 | 124603 |
|  Resources Connection, Inc. | 26425 | 133446 |
|  Skillsoft Corp.(x)\* | 600 | 7812 |
|  Spire Global, Inc.(x)\* | 13300 | 146167 |
|  TriNet Group, Inc. | 16879 | 1129036 |
|  TrueBlue, Inc.\* | 21675 | 132868 |
|  TTEC Holdings, Inc.(x)\* | 24585 | 82606 |
|  Upwork, Inc.\* | 68340 | 1269074 |
|  Verra Mobility Corp., Class A\* | 93510 | 2309697 |
|  Willdan Group, Inc.\* | 7020 | 678764 |
|  WNS Holdings Ltd.\* | 26030 | 1985308 |
|  |  | 30658022 |
|  ***Trading Companies & Distributors (1.1%)*** |  |  |
|  Alta Equipment Group, Inc. | 21630 | 156601 |
|  BlueLinx Holdings, Inc.\* | 4700 | 343476 |
|  Boise Cascade Co. | 21240 | 1642277 |
|  Custom Truck One Source, Inc.(x)\* | 42900 | 275418 |
|  Distribution Solutions Group, Inc.\* | 5996 | 180360 |
|  DNOW, Inc.\* | 57700 | 879925 |
|  DXP Enterprises, Inc.\* | 6610 | 787053 |
|  EVI Industries, Inc. | 1030 | 32558 |
|  GATX Corp. | 20040 | 3502992 |
|  Global Industrial Co. | 7701 | 282396 |
|  Herc Holdings, Inc. | 18220 | 2125545 |
|  Hudson Technologies, Inc.\* | 20720 | 205750 |
|  Karat Packaging, Inc. | 3340 | 84201 |
|  McGrath RentCorp | 13545 | 1588828 |
|  MRC Global, Inc.\* | 44880 | 647170 |
|  NPK International, Inc.\* | 57902 | 654872 |
|  Rush Enterprises, Inc., Class A | 32455 | 1735369 |
|  Rush Enterprises, Inc., Class B | 7539 | 432889 |
|  Titan Machinery, Inc.\* | 13050 | 218457 |
|  Transcat, Inc.\* | 6290 | 460428 |
|  Willis Lease Finance Corp. | 1160 | 159024 |
|  Xometry, Inc., Class A(x)\* | 23320 | 1270240 |
|  |  | 17665829 |
|  ***Transportation Infrastructure (0.0%)†*** |  |  |
|  Sky Harbour Group Corp.(x)\* | 7040 | 69485 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 281322620 |
|  **Information Technology (15.3%)** |  |  |
|  ***Communications Equipment (0.9%)*** |  |  |
|  ADTRAN Holdings, Inc.\* | 36306 | 340550 |
|  Applied Optoelectronics, Inc.(x)\* | 30030 | 778678 |
|  Aviat Networks, Inc.\* | 7250 | 166243 |
|  BK Technologies Corp.\* | 1870 | 157978 |
|  Calix, Inc.\* | 33140 | 2033802 |
|  Clearfield, Inc.(x)\* | 7810 | 268508 |
|  CommScope Holding Co., Inc.\* | 118340 | 1831903 |
|  Digi International, Inc.\* | 17900 | 652634 |
|  Extreme Networks, Inc.\* | 67200 | 1387680 |
|  Harmonic, Inc.\* | 58839 | 598981 |
|  Inseego Corp.\* | 1270 | 19012 |
|  NETGEAR, Inc.\* | 16829 | 545091 |
|  NetScout Systems, Inc.\* | 40854 | 1055259 |
|  Ribbon Communications, Inc.\* | 68838 | 261584 |
|  Viasat, Inc.(x)\* | 68140 | 1996502 |
|  Viavi Solutions, Inc.\* | 133600 | 1695384 |
|  |  | 13789789 |
|  ***Electronic Equipment, Instruments & Components (3.3%)*** |  |  |
|  908 Devices, Inc.(x)\* | 34350 | 300906 |
|  Advanced Energy Industries, Inc. | 21183 | 3604076 |
|  Aeva Technologies, Inc.\* | 17075 | 247587 |
|  Arlo Technologies, Inc.\* | 55590 | 942251 |
|  Badger Meter, Inc. | 16590 | 2962642 |
|  Bel Fuse, Inc., Class A | 690 | 80281 |
|  Bel Fuse, Inc., Class B | 4630 | 652923 |
|  Belden, Inc. | 22035 | 2650149 |
|  Benchmark Electronics, Inc. | 18918 | 729289 |
|  Climb Global Solutions, Inc. | 2350 | 316874 |
|  CTS Corp. | 18100 | 722914 |
|  Daktronics, Inc.\* | 14230 | 297692 |
|  ePlus, Inc. | 14700 | 1043847 |
|  Evolv Technologies Holdings, Inc.\* | 73530 | 555151 |
|  Fabrinet\* | 20200 | 7365324 |
|  Frequency Electronics, Inc.\* | 6900 | 233979 |
|  Insight Enterprises, Inc.\* | 15843 | 1796755 |
|  Itron, Inc.\* | 25790 | 3212402 |
|  Kimball Electronics, Inc.\* | 12540 | 374444 |
|  Knowles Corp.\* | 51000 | 1188810 |
|  Methode Electronics, Inc. | 23900 | 180445 |
|  MicroVision, Inc.(x)\* | 228740 | 283638 |
|  Mirion Technologies, Inc., Class A\* | 117350 | 2729561 |
|  M-Tron Industries, Inc.\* | 700 | 38836 |
|  Napco Security Technologies, Inc. | 17760 | 762792 |
|  Neonode, Inc.\* | 5200 | 18148 |
|  nLight, Inc.\* | 19400 | 574822 |
|  Novanta, Inc.\* | 19540 | 1956931 |
|  OSI Systems, Inc.\* | 8468 | 2110564 |
|  Ouster, Inc.\* | 24450 | 661372 |
|  PAR Technology Corp.(x)\* | 22430 | 887779 |
|  PC Connection, Inc. | 8730 | 541173 |
|  Plexus Corp.\* | 14495 | 2097282 |
|  Powerfleet, Inc.(x)\* | 51830 | 271589 |
|  Red Cat Holdings, Inc.(x)\* | 41800 | 432630 |
|  Richardson Electronics Ltd. | 6550 | 64124 |
|  Rogers Corp.\* | 10484 | 843543 |
|  Sanmina Corp.\* | 31800 | 3660498 |

---

See Notes to Portfolio of Investments.

808

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  ScanSource, Inc.\* | 13229 | $581944 |
|  TTM Technologies, Inc.\* | 56601 | 3260218 |
|  Vishay Intertechnology, Inc. | 77000 | 1178100 |
|  Vishay Precision Group, Inc.\* | 9400 | 301270 |
|  Vuzix Corp.(x)\* | 18900 | 59157 |
|  |  | 52774712 |
|  ***IT Services (0.5%)*** |  |  |
|  Applied Digital Corp.\* | 105190 | 2413059 |
|  ASGN, Inc.\* | 25500 | 1207425 |
|  Backblaze, Inc., Class A\* | 5510 | 51133 |
|  BigBear.ai Holdings, Inc.\* | 161700 | 1054284 |
|  Commerce.com, Inc.\* | 42660 | 212873 |
|  Crexendo, Inc.\* | 1700 | 11050 |
|  CSP, Inc. | 400 | 4620 |
|  DigitalOcean Holdings, Inc.\* | 38500 | 1315160 |
|  Fastly, Inc., Class A\* | 65300 | 558315 |
|  Grid Dynamics Holdings, Inc.\* | 31340 | 241631 |
|  Hackett Group, Inc. (The) | 12259 | 233043 |
|  Information Services Group, Inc. | 17510 | 100682 |
|  Rackspace Technology, Inc.(x)\* | 140870 | 198627 |
|  Tucows, Inc., Class A\* | 7470 | 138606 |
|  Unisys Corp.\* | 46274 | 180469 |
|  VTEX, Class A(x)\* | 7500 | 32850 |
|  |  | 7953827 |
|  ***Semiconductors & Semiconductor Equipment (3.5%)*** |  |  |
|  ACM Research, Inc., Class A\* | 24200 | 946946 |
|  Aehr Test Systems\* | 23660 | 712403 |
|  Aeluma, Inc.(x)\* | 9400 | 151340 |
|  Alpha & Omega Semiconductor Ltd.\* | 13030 | 364319 |
|  Ambarella, Inc.\* | 25580 | 2110862 |
|  Atomera, Inc.(x)\* | 10100 | 44642 |
|  Axcelis Technologies, Inc.\* | 18300 | 1786812 |
|  CEVA, Inc.\* | 11500 | 303715 |
|  Cohu, Inc.\* | 22731 | 462121 |
|  Credo Technology Group Holding Ltd.\* | 81954 | 11933322 |
|  Diodes, Inc.\* | 24298 | 1292897 |
|  FormFactor, Inc.\* | 43481 | 1583578 |
|  Ichor Holdings Ltd.\* | 18280 | 320266 |
|  Impinj, Inc.\* | 14480 | 2617260 |
|  indie Semiconductor, Inc., Class A(x)\* | 80550 | 327839 |
|  Kopin Corp.\* | 21000 | 51030 |
|  Kulicke & Soffa Industries, Inc. | 31800 | 1292352 |
|  MaxLinear, Inc., Class A\* | 41993 | 675247 |
|  Navitas Semiconductor Corp., Class A(x)\* | 98820 | 713480 |
|  NVE Corp. | 3140 | 204948 |
|  PDF Solutions, Inc.\* | 15880 | 410022 |
|  Penguin Solutions, Inc.\* | 24800 | 651744 |
|  Photronics, Inc.\* | 30800 | 706860 |
|  Power Integrations, Inc. | 32548 | 1308755 |
|  Rambus, Inc.\* | 61130 | 6369746 |
|  Rigetti Computing, Inc.(x)\* | 177460 | 5286533 |
|  Semtech Corp.\* | 48756 | 3483616 |
|  Silicon Laboratories, Inc.\* | 17670 | 2317067 |
|  SiTime Corp.\* | 11840 | 3567510 |
|  SkyWater Technology, Inc.\* | 29850 | 557001 |
|  Synaptics, Inc.\* | 23507 | 1606468 |
|  Ultra Clean Holdings, Inc.\* | 28080 | 765180 |
|  Veeco Instruments, Inc.\* | 31216 | 949903 |
|  |  | 55875784 |
|  ***Software (6.3%)*** |  |  |
|  8x8, Inc.\* | 101080 | 214290 |
|  A10 Networks, Inc. | 35110 | 637247 |
|  ACI Worldwide, Inc.\* | 57936 | 3057283 |
|  Adeia, Inc. | 59283 | 995954 |
|  Agilysys, Inc.\* | 14420 | 1517705 |
|  Airship AI Holdings, Inc.(x)\* | 41710 | 215641 |
|  Alarm.com Holdings, Inc.\* | 26300 | 1396004 |
|  Alkami Technology, Inc.(x)\* | 38120 | 946901 |
|  Amplitude, Inc., Class A\* | 59550 | 638376 |
|  Appian Corp., Class A\* | 20000 | 611400 |
|  Arteris, Inc.\* | 4940 | 49894 |
|  Asana, Inc., Class A(x)\* | 52200 | 697392 |
|  AudioEye, Inc.\* | 7720 | 106999 |
|  AvePoint, Inc.\* | 74280 | 1114943 |
|  Bit Digital, Inc.(x)\* | 122600 | 367800 |
|  Bitdeer Technologies Group, Class A(x)\* | 50200 | 857918 |
|  Blackbaud, Inc.\* | 23297 | 1498230 |
|  BlackLine, Inc.\* | 32410 | 1720971 |
|  Blend Labs, Inc., Class A\* | 129660 | 473259 |
|  Box, Inc., Class A\* | 79090 | 2552234 |
|  Braze, Inc., Class A\* | 42686 | 1213990 |
|  C3.ai, Inc., Class A(x)\* | 67660 | 1173224 |
|  Cerence, Inc.(x)\* | 40750 | 507745 |
|  Cipher Mining, Inc.(x)\* | 148210 | 1865964 |
|  Cleanspark, Inc.(x)\* | 151850 | 2201825 |
|  Clear Secure, Inc., Class A | 44540 | 1486745 |
|  Clearwater Analytics Holdings, Inc., Class A\* | 137928 | 2485463 |
|  Commvault Systems, Inc.\* | 24774 | 4676836 |
|  Consensus Cloud Solutions, Inc.\* | 10739 | 315405 |
|  Core Scientific, Inc.\* | 154260 | 2767424 |
|  CoreCard Corp.\* | 1800 | 48456 |
|  CS Disco, Inc.\* | 38590 | 249291 |
|  Daily Journal Corp.\* | 700 | 325598 |
|  Digimarc Corp.(x)\* | 12310 | 120269 |
|  Digital Turbine, Inc.(x)\* | 97570 | 624448 |
|  Domo, Inc., Class B\* | 26660 | 422294 |
|  D-Wave Quantum, Inc.(x)\* | 161052 | 3979595 |
|  eGain Corp.\* | 8070 | 70290 |
|  EverCommerce, Inc.(x)\* | 23800 | 264894 |
|  Expensify, Inc., Class A\* | 5100 | 9435 |
|  Five9, Inc.\* | 42700 | 1033340 |
|  Freshworks, Inc., Class A\* | 114490 | 1347547 |
|  Hut 8 Corp.\* | 52930 | 1842493 |
|  I3 Verticals, Inc., Class A(x)\* | 10990 | 356735 |
|  Intapp, Inc.\* | 29386 | 1201887 |
|  InterDigital, Inc.(x) | 14475 | 4997204 |
|  Jamf Holding Corp.\* | 45580 | 487706 |
|  Kaltura, Inc.\* | 23780 | 34243 |
|  Life360, Inc.(x)\* | 9000 | 956700 |
|  LiveRamp Holdings, Inc.\* | 37985 | 1030913 |
|  MARA Holdings, Inc.(x)\* | 187648 | 3426453 |
|  Mercurity Fintech Holding, Inc.(x)\* | 7600 | 186808 |
|  Meridianlink, Inc.\* | 12580 | 250719 |
|  Mitek Systems, Inc.\* | 21600 | 211032 |
|  N-able, Inc.\* | 34400 | 268320 |
|  NCR Voyix Corp.\* | 81710 | 1025461 |
|  NextNav, Inc.\* | 40930 | 585299 |
|  ON24, Inc.\* | 30580 | 174918 |
|  OneSpan, Inc. | 21020 | 334008 |
|  Ooma, Inc.\* | 15400 | 184646 |
|  Pagaya Technologies Ltd., Class A\* | 22690 | 673666 |
|  PagerDuty, Inc.\* | 48240 | 796925 |
|  Porch Group, Inc.\* | 43430 | 728755 |
|  Progress Software Corp.\* | 23597 | 1036616 |
|  PROS Holdings, Inc.(x)\* | 22700 | 520057 |
|  Q2 Holdings, Inc.\* | 34750 | 2515553 |
|  Qualys, Inc.\* | 20850 | 2759081 |
|  Rapid7, Inc.\* | 34760 | 651750 |
|  Red Violet, Inc. | 6280 | 328130 |
|  ReposiTrak, Inc. | 3370 | 49943 |
|  Rezolve AI plc(x)\* | 75300 | 374994 |

---

See Notes to Portfolio of Investments.

809

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Rimini Street, Inc.\* | 42080 | $196934 |
|  Riot Platforms, Inc.(x)\* | 185720 | 3534252 |
|  Sapiens International Corp. NV | 14050 | 604150 |
|  SEMrush Holdings, Inc., Class A\* | 18210 | 128927 |
|  Silvaco Group, Inc.\* | 1900 | 10279 |
|  SoundHound AI, Inc., Class A(x)\* | 204730 | 3292058 |
|  SoundThinking, Inc.\* | 9650 | 116379 |
|  Sprinklr, Inc., Class A\* | 75930 | 586180 |
|  Sprout Social, Inc., Class A\* | 25970 | 335532 |
|  SPS Commerce, Inc.\* | 20900 | 2176526 |
|  Synchronoss Technologies, Inc.\* | 700 | 4256 |
|  Telos Corp.\* | 29060 | 198770 |
|  Tenable Holdings, Inc.\* | 66220 | 1930975 |
|  Terawulf, Inc.(x)\* | 129240 | 1475921 |
|  Varonis Systems, Inc.\* | 61920 | 3558542 |
|  Verint Systems, Inc.\* | 35951 | 728008 |
|  Vertex, Inc., Class A\* | 36380 | 901860 |
|  Viant Technology, Inc., Class A\* | 13140 | 113398 |
|  Weave Communications, Inc.\* | 23800 | 158984 |
|  WM Technology, Inc.\* | 22350 | 25926 |
|  Workiva, Inc., Class A\* | 28600 | 2461888 |
|  Xperi, Inc.\* | 23283 | 150874 |
|  Yext, Inc.\* | 63000 | 536760 |
|  Zeta Global Holdings Corp., Class A\* | 99450 | 1976072 |
|  |  | 100054985 |
|  ***Technology Hardware, Storage & Peripherals (0.8%)*** |  |  |
|  CompoSecure, Inc., Class A\* | 24560 | 511339 |
|  Corsair Gaming, Inc.\* | 19700 | 175724 |
|  CPI Card Group, Inc.\* | 3660 | 55412 |
|  Diebold Nixdorf, Inc.\* | 14190 | 809256 |
|  Eastman Kodak Co.(x)\* | 30460 | 195249 |
|  Immersion Corp. | 25820 | 189519 |
|  IonQ, Inc.(x)\* | 154509 | 9502303 |
|  Quantum Computing, Inc.(x)\* | 64410 | 1185788 |
|  Turtle Beach Corp.\* | 13320 | 211788 |
|  Xerox Holdings Corp. | 57700 | 216952 |
|  |  | 13053330 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 243502427 |
|  **Materials (4.2%)** |  |  |
|  ***Chemicals (1.6%)*** |  |  |
|  AdvanSix, Inc. | 13500 | 261630 |
|  American Vanguard Corp.\* | 21460 | 123180 |
|  Arq, Inc.\* | 6240 | 44678 |
|  ASP Isotopes, Inc.\* | 60540 | 582395 |
|  Aspen Aerogels, Inc.\* | 43450 | 302412 |
|  Avient Corp. | 48500 | 1598075 |
|  Balchem Corp. | 18225 | 2734843 |
|  Cabot Corp. | 29230 | 2222942 |
|  Chemours Co. (The) | 84180 | 1333411 |
|  Core Molding Technologies, Inc.\* | 2880 | 59184 |
|  Ecovyst, Inc.\* | 65350 | 572466 |
|  Flotek Industries, Inc.(x)\* | 13830 | 201918 |
|  Hawkins, Inc. | 10100 | 1845472 |
|  HB Fuller Co. | 30739 | 1822208 |
|  Ingevity Corp.\* | 19600 | 1081724 |
|  Innospec, Inc. | 13700 | 1057092 |
|  Intrepid Potash, Inc.\* | 10110 | 309164 |
|  Koppers Holdings, Inc. | 10793 | 302204 |
|  Kronos Worldwide, Inc. | 23840 | 136842 |
|  LSB Industries, Inc.\* | 33430 | 263428 |
|  Mativ Holdings, Inc. | 33027 | 373535 |
|  Minerals Technologies, Inc. | 18040 | 1120645 |
|  Orion SA | 33900 | 256962 |
|  Perimeter Solutions, Inc.\* | 81070 | 1815157 |
|  PureCycle Technologies, Inc.(x)\* | 72570 | 954296 |
|  Quaker Chemical Corp. | 7500 | 988125 |
|  Rayonier Advanced Materials, Inc.\* | 39560 | 285623 |
|  Sensient Technologies Corp. | 24605 | 2309179 |
|  Solesence, Inc.\* | 2120 | 6826 |
|  Stepan Co. | 11388 | 543208 |
|  Trinseo plc | 2920 | 6862 |
|  Tronox Holdings plc | 75630 | 304033 |
|  Valhi, Inc.(x) | 2320 | 36610 |
|  |  | 25856329 |
|  ***Construction Materials (0.2%)*** |  |  |
|  Knife River Corp.\* | 34180 | 2627417 |
|  Smith-Midland Corp.\* | 1170 | 43173 |
|  Titan America SA(x) | 9100 | 135954 |
|  United States Lime & Minerals, Inc. | 5770 | 759043 |
|  |  | 3565587 |
|  ***Containers & Packaging (0.2%)*** |  |  |
|  Ardagh Metal Packaging SA | 81150 | 323789 |
|  Greif, Inc., Class A | 14800 | 884448 |
|  Greif, Inc., Class B | 3000 | 184830 |
|  Myers Industries, Inc. | 13300 | 225302 |
|  O-I Glass, Inc.\* | 91000 | 1180270 |
|  Ranpak Holdings Corp., Class A\* | 28520 | 160282 |
|  TriMas Corp. | 16900 | 653016 |
|  |  | 3611937 |
|  ***Metals & Mining (2.1%)*** |  |  |
|  Alpha Metallurgical Resources, Inc.\* | 5830 | 956645 |
|  American Battery Technology Co.\* | 8500 | 41310 |
|  Ascent Industries Co.\* | 900 | 11592 |
|  Caledonia Mining Corp. plc | 6280 | 227399 |
|  Century Aluminum Co.\* | 37550 | 1102468 |
|  Coeur Mining, Inc.\* | 374987 | 7034756 |
|  Commercial Metals Co. | 64990 | 3722627 |
|  Compass Minerals International, Inc.\* | 19500 | 374400 |
|  Constellium SE\* | 94130 | 1400654 |
|  Contango ORE, Inc.\* | 5340 | 133126 |
|  Critical Metals Corp.(x)\* | 1460 | 9081 |
|  Dakota Gold Corp.\* | 21460 | 97643 |
|  Ferroglobe plc | 67200 | 305760 |
|  Friedman Industries, Inc. | 300 | 6568 |
|  Hecla Mining Co. | 328349 | 3973023 |
|  Idaho Strategic Resources, Inc.\* | 3000 | 101370 |
|  Ivanhoe Electric, Inc.\* | 46940 | 589097 |
|  Kaiser Aluminum Corp. | 8791 | 678314 |
|  Lifezone Metals Ltd.\* | 5090 | 27893 |
|  MAC Copper Ltd.\* | 53450 | 652625 |
|  Materion Corp. | 11545 | 1394751 |
|  Metallus, Inc.\* | 23300 | 385149 |
|  NioCorp Developments Ltd.(x)\* | 7700 | 51436 |
|  Novagold Resources, Inc.\* | 131700 | 1158960 |
|  Olympic Steel, Inc. | 6980 | 212541 |
|  Perpetua Resources Corp.\* | 23350 | 472371 |
|  Ramaco Resources, Inc., Class A\* | 32840 | 1089960 |
|  Ryerson Holding Corp. | 12570 | 287350 |
|  SSR Mining, Inc.\* | 113970 | 2783147 |
|  SunCoke Energy, Inc. | 42510 | 346882 |
|  Tredegar Corp.\* | 14409 | 115704 |
|  United States Antimony Corp.\* | 37900 | 234980 |
|  US Gold Corp.\* | 4200 | 69216 |
|  US Goldmining, Inc.\* | 300 | 3857 |
|  Vox Royalty Corp.(x) | 3300 | 14190 |
|  Warrior Met Coal, Inc. | 27880 | 1774283 |
|  Worthington Steel, Inc. | 20580 | 625426 |
|  |  | 32466554 |
|  ***Paper & Forest Products (0.1%)*** |  |  |
|  Clearwater Paper Corp.\* | 10168 | 211088 |
|  Magnera Corp.\* | 17000 | 199240 |

---

See Notes to Portfolio of Investments.

810

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Sylvamo Corp. | 18180 | $803920 |
|  |  | 1214248 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 66714655 |
|  **Real Estate (5.7%)** |  |  |
|  ***Diversified REITs (0.5%)*** |  |  |
|  Alexander & Baldwin, Inc. (REIT) | 42386 | 771001 |
|  Alpine Income Property Trust, Inc. (REIT) | 8340 | 118178 |
|  American Assets Trust, Inc. (REIT) | 24318 | 494142 |
|  Armada Hoffler Properties, Inc. (REIT) | 33800 | 236938 |
|  Broadstone Net Lease, Inc. (REIT) | 100460 | 1795220 |
|  CTO Realty Growth, Inc. (REIT) | 13118 | 213823 |
|  Essential Properties Realty Trust, Inc. (REIT) | 111030 | 3304253 |
|  Gladstone Commercial Corp. (REIT)(x) | 38800 | 478016 |
|  Global Net Lease, Inc. (REIT) | 112759 | 916731 |
|  Modiv Industrial, Inc. (REIT), Class C(x) | 1700 | 24888 |
|  NexPoint Diversified Real Estate Trust (REIT) | 25404 | 93741 |
|  One Liberty Properties, Inc. (REIT) | 11303 | 250022 |
|  |  | 8696953 |
|  ***Health Care REITs (0.9%)*** |  |  |
|  American Healthcare REIT, Inc. (REIT) | 88984 | 3738218 |
|  CareTrust REIT, Inc. (REIT) | 110473 | 3831204 |
|  Community Healthcare Trust, Inc. (REIT) | 9600 | 146880 |
|  Diversified Healthcare Trust (REIT) | 122460 | 540049 |
|  Global Medical REIT, Inc. (REIT)(x) | 6080 | 204957 |
|  LTC Properties, Inc. (REIT) | 28369 | 1045681 |
|  National Health Investors, Inc. (REIT) | 26028 | 2069226 |
|  Sabra Health Care REIT, Inc. (REIT) | 129963 | 2422510 |
|  Sila Realty Trust, Inc. (REIT) | 31100 | 780610 |
|  Strawberry Fields REIT, Inc. (REIT) | 2250 | 27675 |
|  Universal Health Realty Income Trust (REIT) | 4950 | 193891 |
|  |  | 15000901 |
|  ***Hotel & Resort REITs (0.6%)*** |  |  |
|  Apple Hospitality REIT, Inc. (REIT) | 128030 | 1537640 |
|  Braemar Hotels & Resorts, Inc. (REIT) | 62510 | 170652 |
|  Chatham Lodging Trust (REIT) | 22650 | 151982 |
|  DiamondRock Hospitality Co. (REIT) | 115998 | 923344 |
|  Pebblebrook Hotel Trust (REIT) | 61712 | 702900 |
|  RLJ Lodging Trust (REIT) | 74476 | 536227 |
|  Ryman Hospitality Properties, Inc. (REIT) | 32934 | 2950557 |
|  Service Properties Trust (REIT) | 95200 | 257992 |
|  Summit Hotel Properties, Inc. (REIT) | 53600 | 294264 |
|  Sunstone Hotel Investors, Inc. (REIT) | 103038 | 965466 |
|  Xenia Hotels & Resorts, Inc. (REIT) | 63400 | 869848 |
|  |  | 9360872 |
|  ***Industrial REITs (0.4%)*** |  |  |
|  Industrial Logistics Properties Trust (REIT) | 24560 | 143185 |
|  Innovative Industrial Properties, Inc. (REIT) | 15830 | 848171 |
|  LXP Industrial Trust (REIT) | 163236 | 1462595 |
|  Plymouth Industrial REIT, Inc. (REIT) | 24420 | 545299 |
|  Terreno Realty Corp. (REIT) | 57150 | 3243262 |
|  |  | 6242512 |
|  ***Office REITs (0.7%)*** |  |  |
|  Brandywine Realty Trust (REIT) | 88100 | 367377 |
|  City Office REIT, Inc. (REIT) | 46040 | 320438 |
|  COPT Defense Properties (REIT) | 70510 | 2049021 |
|  Douglas Emmett, Inc. (REIT) | 90870 | 1414846 |
|  Easterly Government Properties, Inc. (REIT), Class A | 25888 | 593612 |
|  Empire State Realty Trust, Inc. (REIT), Class A | 74300 | 569138 |
|  Franklin Street Properties Corp. (REIT) | 31040 | 49664 |
|  Hudson Pacific Properties, Inc. (REIT)\* | 178530 | 492743 |
|  JBG SMITH Properties (REIT) | 43270 | 962757 |
|  NET Lease Office Properties (REIT) | 6030 | 178850 |
|  Paramount Group, Inc. (REIT)\* | 97000 | 634380 |
|  Peakstone Realty Trust (REIT) | 16550 | 217136 |
|  Piedmont Realty Trust, Inc. (REIT) | 72000 | 648000 |
|  Postal Realty Trust, Inc. (REIT), Class A | 15180 | 238174 |
|  SL Green Realty Corp. (REIT) | 38670 | 2312853 |
|  |  | 11048989 |
|  ***Real Estate Management & Development (0.6%)*** |  |  |
|  American Realty Investors, Inc.\* | 610 | 10205 |
|  Anywhere Real Estate, Inc.\* | 56050 | 593569 |
|  Compass, Inc., Class A\* | 254750 | 2045642 |
|  Cushman & Wakefield plc\* | 126696 | 2017000 |
|  eXp World Holdings, Inc.(x) | 45480 | 484817 |
|  Forestar Group, Inc.\* | 11263 | 299483 |
|  FRP Holdings, Inc.\* | 7820 | 190495 |
|  Kennedy-Wilson Holdings, Inc. | 70024 | 582600 |
|  Marcus & Millichap, Inc. | 16000 | 469600 |
|  Maui Land & Pineapple Co., Inc.\* | 1740 | 32434 |
|  Newmark Group, Inc., Class A | 84624 | 1578238 |
|  RE/MAX Holdings, Inc., Class A\* | 21790 | 205480 |
|  Real Brokerage, Inc. (The)\* | 53770 | 224759 |
|  RMR Group, Inc. (The), Class A | 9596 | 150945 |
|  St Joe Co. (The) | 21300 | 1053924 |
|  Stratus Properties, Inc.\* | 2980 | 63057 |
|  Tejon Ranch Co.\* | 12042 | 192431 |
|  Transcontinental Realty Investors, Inc.\* | 1010 | 46591 |
|  |  | 10241270 |
|  ***Residential REITs (0.4%)*** |  |  |
|  Apartment Investment and Management Co. (REIT), Class A | 77400 | 613782 |
|  BRT Apartments Corp. (REIT) | 11410 | 178681 |
|  Centerspace (REIT) | 9149 | 538876 |
|  Clipper Realty, Inc. (REIT) | 14820 | 56316 |
|  Elme Communities (REIT) | 42317 | 713465 |
|  Independence Realty Trust, Inc. (REIT) | 130047 | 2131470 |
|  NexPoint Residential Trust, Inc. (REIT) | 10760 | 346687 |
|  UMH Properties, Inc. (REIT) | 39770 | 590585 |
|  Veris Residential, Inc. (REIT) | 51400 | 781280 |
|  |  | 5951142 |
|  ***Retail REITs (1.2%)*** |  |  |
|  Acadia Realty Trust (REIT) | 73783 | 1486727 |
|  Alexander's, Inc. (REIT) | 1215 | 284905 |
|  CBL & Associates Properties, Inc. (REIT) | 13400 | 409772 |
|  Curbline Properties Corp. (REIT) | 58600 | 1306780 |
|  FrontView REIT, Inc. (REIT) | 7900 | 108309 |
|  Getty Realty Corp. (REIT) | 26575 | 713007 |
|  InvenTrust Properties Corp. (REIT) | 42530 | 1217209 |

---

See Notes to Portfolio of Investments.

811

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Kite Realty Group Trust (REIT) | 123422 | $2752311 |
|  Macerich Co. (The) (REIT) | 141990 | 2584218 |
|  NETSTREIT Corp. (REIT)(x) | 41410 | 747865 |
|  Phillips Edison & Co., Inc. (REIT) | 68960 | 2367397 |
|  Saul Centers, Inc. (REIT) | 7150 | 227870 |
|  SITE Centers Corp. (REIT) | 29300 | 263993 |
|  Tanger, Inc. (REIT) | 61730 | 2088943 |
|  Urban Edge Properties (REIT) | 79900 | 1635553 |
|  Whitestone REIT (REIT) | 25200 | 309456 |
|  |  | 18504315 |
|  ***Specialized REITs (0.4%)*** |  |  |
|  Farmland Partners, Inc. (REIT)(x) | 20500 | 223040 |
|  Four Corners Property Trust, Inc. (REIT) | 57720 | 1408368 |
|  Gladstone Land Corp. (REIT)(x) | 18700 | 171292 |
|  Outfront Media, Inc. (REIT) | 76807 | 1407104 |
|  PotlatchDeltic Corp. (REIT) | 42809 | 1744467 |
|  Safehold, Inc. (REIT) | 33057 | 512053 |
|  Smartstop Self Storage REIT, Inc. (REIT)(x) | 15800 | 594712 |
|  |  | 6061036 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 91107990 |
|  **Utilities (3.2%)** |  |  |
|  ***Electric Utilities (1.2%)*** |  |  |
|  ALLETE, Inc. | 35423 | 2352087 |
|  Genie Energy Ltd., Class B | 9490 | 141876 |
|  Hawaiian Electric Industries, Inc.\* | 90890 | 1003426 |
|  MGE Energy, Inc. | 20279 | 1707086 |
|  Oklo, Inc., Class A(x)\* | 57400 | 6407562 |
|  Otter Tail Corp. | 22925 | 1879162 |
|  Portland General Electric Co. | 61682 | 2714008 |
|  TXNM Energy, Inc. | 50571 | 2859790 |
|  |  | 19064997 |
|  ***Gas Utilities (1.1%)*** |  |  |
|  Brookfield Infrastructure Corp., Class A | 65209 | 2681394 |
|  Chesapeake Utilities Corp. | 14000 | 1885660 |
|  New Jersey Resources Corp. | 57662 | 2776425 |
|  Northwest Natural Holding Co. | 21292 | 956649 |
|  ONE Gas, Inc. | 32840 | 2658070 |
|  RGC Resources, Inc. | 2510 | 56324 |
|  Southwest Gas Holdings, Inc. | 36196 | 2835595 |
|  Spire, Inc. | 34182 | 2786517 |
|  |  | 16636634 |
|  ***Independent Power and Renewable Electricity Producers (0.2%)*** |  |  |
|  Hallador Energy Co.(x)\* | 14810 | 289832 |
|  Montauk Renewables, Inc.\* | 45680 | 91817 |
|  Ormat Technologies, Inc. | 34110 | 3283087 |
|  |  | 3664736 |
|  ***Multi-Utilities (0.4%)*** |  |  |
|  Avista Corp. | 48889 | 1848493 |
|  Black Hills Corp. | 38529 | 2373001 |
|  Northwestern Energy Group, Inc. | 34768 | 2037753 |
|  Unitil Corp. | 8100 | 387666 |
|  |  | 6646913 |
|  ***Water Utilities (0.3%)*** |  |  |
|  American States Water Co. | 21158 | 1551304 |
|  Cadiz, Inc.\* | 33730 | 159205 |
|  California Water Service Group | 31440 | 1442782 |
|  Consolidated Water Co. Ltd.(x) | 9050 | 319284 |
|  Global Water Resources, Inc. | 7670 | 79001 |
|  H2O America | 18170 | 884879 |
|  Middlesex Water Co. | 11300 | 611556 |
|  Pure Cycle Corp.\* | 13280 | 147010 |
|  York Water Co. (The) | 6190 | 188300 |
|  |  | 5383321 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 51396601 |
|  **Total Common Stocks (99.2%)**<br>*(Cost $1,058,349,959)* |  | 1577570158 |
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Biotechnology (0.0%)†*** |  |  |
|  Aduro Biotech, Inc., CVR (r)\* | 10614 |  |
|  Cartesian Therapeutics, Inc. \* | 11360 | 1534 |
|  Chinook Therapeutics, Inc., CVR \* | 35960 | 7191 |
|  Sanofi Aatd, Inc., CVR(r)\* | 19600 | 9518 |
|  |  | 18243 |
|  ***Health Care Equipment & Supplies (0.0%)†*** |  |  |
|  Paragon 28, Inc., CVR(r)\* | 33030 | 2230 |
|  ***Life Sciences Tools & Services (0.0%)*** |  |  |
|  OmniAb, Inc., expiring 11/1/27(r)\* | 7376 |  |
|  ***Pharmaceuticals (0.0%)†*** |  |  |
|  Rain Oncology, Inc., CVR(r)(x)\* | 21290 | 798 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 21271 |
|  **Materials (0.0%)†** |  |  |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Resolute Forest Products, Inc., CVR\* | 23700 | 35550 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 35550 |
|  **Total Rights (0.0%)†**<br>*(Cost $39,320)* |  | 56821 |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (3.3%)** |  |  |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 2000000 | 2000000 |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 10000000 | 10000000 |
|  Goldman Sachs Financial Square Government Fund 4.03% (7 day yield) (xx) | 1000000 | 1000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 38247151 | 38247151 |
|  Morgan Stanley Institutional Liquidity Fund - Government Portfolio 4.05% (7 day yield) (xx) | 1000000 | 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 52247151 |
|  **Total Short-Term Investments (3.3%)**<br> *(Cost $52,247,151)* |  | 52247151 |
|  **Total Investments in Securities (102.5%)**<br> *(Cost $1,110,636,430)* |  | 1629874130 |
|  **Other Assets Less Liabilities (-2.5%)** |  | (40401649) |
|  **Net Assets (100%)** |  | $1589472481 |

---

See Notes to Portfolio of Investments.

812

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $769,210 or 0.0% of net assets.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $138,676,333. This was collateralized by $91,317,531 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.250%, maturing 9/30/25 – 5/15/55 and by cash of $52,247,259 of which $52,247,151 was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*CVR — Contingent Value Right* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  Russell 2000 E-Mini Index | 82 | 12/2025 | USD | 10067550 | 71875 |
|  |  |  |  |  | 71875 |

---

See Notes to Portfolio of Investments.

813

------

**EQ ADVISORS TRUST** 

EQ/SMALL COMPANY INDEX PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted<br>prices for similar<br>securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant<br>Unobservable Inputs<br>(including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $44171425 | $— | $— | $44171425 |
|  Consumer Discretionary | 157175460 |  |  | 157175460 |
|  Consumer Staples | 31624511 |  |  | 31624511 |
|  Energy | 75586063 |  |  | 75586063 |
|  Financials | 282732553 |  | 1431 | 282733984 |
|  Health Care | 252234422 |  | — (a) | 252234422 |
|  Industrials | 281322620 |  |  | 281322620 |
|  Information Technology | 243502427 |  |  | 243502427 |
|  Materials | 66714655 |  |  | 66714655 |
|  Real Estate | 91107990 |  |  | 91107990 |
|  Utilities | 51396601 |  |  | 51396601 |
|  **Futures** | 71875 |  |  | 71875 |
|  **Rights** |  |  |  |  |
|  Health Care |  | 8725 | 12546 | 21271 |
|  Materials |  | 35550 |  | 35550 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 52247151 |  |  | 52247151 |
|  **Total Assets** | $**1629887753** | $**44275** | $**13977** | $**1629946005** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**1629887753** | $**44275** | $**13977** | $**1629946005** |

---

*(a)* *Value is zero.* 

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $698107822 |
|  Aggregate gross unrealized depreciation | (190656101) |
|  Net unrealized appreciation | $507451721 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1122494284 |

---

See Notes to Portfolio of Investments.

814

------

**EQ ADVISORS TRUST** 

EQ/T. ROWE PRICE HEALTH SCIENCES PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Health Care (100.4%)** |  |  |
|  ***Biotechnology (46.9%)*** |  |  |
|  AbbVie, Inc. | 23763 | $5502085 |
|  Abivax SA (ADR)\* | 5587 | 474336 |
|  ACADIA Pharmaceuticals, Inc.\* | 5500 | 117370 |
|  Agios Pharmaceuticals, Inc.\* | 12591 | 505403 |
|  Akero Therapeutics, Inc.\* | 17971 | 853263 |
|  Alector, Inc.\* | 21354 | 63208 |
|  Alkermes plc\* | 13551 | 406530 |
|  Allogene Therapeutics, Inc.\* | 61082 | 75742 |
|  Alnylam Pharmaceuticals, Inc.\* | 11249 | 5129544 |
|  Annexon, Inc.\* | 15220 | 46421 |
|  Apogee Therapeutics, Inc.\* | 9440 | 375051 |
|  Arcellx, Inc.\* | 6581 | 540300 |
|  Argenx SE (ADR)\* | 10097 | 7447143 |
|  Ascendis Pharma A/S (ADR)\* | 12606 | 2506199 |
|  Aura Biosciences, Inc.(x)\* | 7297 | 45096 |
|  Avidity Biosciences, Inc.(x)\* | 39539 | 1722714 |
|  Beam Therapeutics, Inc.(x)\* | 19064 | 462683 |
|  BeOne Medicines Ltd., Class H\* | 116155 | 3062858 |
|  BeOne Medicines Ltd. (ADR)\* | 2442 | 831989 |
|  Bicara Therapeutics, Inc.(x)\* | 20524 | 324074 |
|  Bicycle Therapeutics plc (ADR)\* | 23892 | 184924 |
|  Biogen, Inc.\* | 2176 | 304814 |
|  Biohaven Ltd.\* | 14482 | 217375 |
|  BridgeBio Oncology Therapeutics, Inc., Class A(x)\* | 9880 | 114410 |
|  Bridgebio Pharma, Inc.\* | 6220 | 323067 |
|  Cabaletta Bio, Inc.\* | 1400 | 3276 |
|  Caris Life Sciences, Inc.\* | 17649 | 533882 |
|  Celcuity, Inc.(x)\* | 7826 | 386604 |
|  Celldex Therapeutics, Inc.\* | 10770 | 278620 |
|  Centessa Pharmaceuticals plc (ADR)(x)\* | 44007 | 1067170 |
|  CG oncology, Inc.(x)\* | 14752 | 594211 |
|  Climb Bio, Inc.(x)\* | 6500 | 13065 |
|  Crescent Biopharma, Inc.(x)\* | 4414 | 52482 |
|  Cytokinetics, Inc.\* | 12766 | 701619 |
|  Denali Therapeutics, Inc.\* | 25433 | 369287 |
|  Dianthus Therapeutics, Inc.\* | 2396 | 94283 |
|  Disc Medicine, Inc.(x)\* | 6472 | 427670 |
|  Entrada Therapeutics, Inc.\* | 6665 | 38657 |
|  Exact Sciences Corp.\* | 11623 | 635894 |
|  Generation Bio Co.(x)\* | 3013 | 18440 |
|  Gilead Sciences, Inc. | 39190 | 4350090 |
|  Ideaya Biosciences, Inc.\* | 4833 | 131506 |
|  Immatics NV(x)\* | 8500 | 72420 |
|  Immuneering Corp., Class A(x)\* | 12686 | 88802 |
|  Immunocore Holdings plc (ADR)\* | 14131 | 513379 |
|  Immunome, Inc.(x)\* | 50386 | 590020 |
|  Incyte Corp.\* | 6901 | 585274 |
|  Insmed, Inc.\* | 34432 | 4958552 |
|  Ionis Pharmaceuticals, Inc.\* | 15079 | 986468 |
|  Iovance Biotherapeutics, Inc.(x)\* | 21291 | 46202 |
|  Janux Therapeutics, Inc.\* | 7679 | 187675 |
|  Kodiak Sciences, Inc.\* | 5500 | 90035 |
|  Krystal Biotech, Inc.\* | 4308 | 760491 |
|  Kymera Therapeutics, Inc.(x)\* | 18432 | 1043251 |
|  Kyverna Therapeutics, Inc.(x)\* | 17261 | 103566 |
|  Madrigal Pharmaceuticals, Inc.\* | 1202 | 551309 |
|  Merus NV\* | 6699 | 630711 |
|  Mirum Pharmaceuticals, Inc.\* | 1400 | 102634 |
|  Monte Rosa Therapeutics, Inc.\* | 22383 | 165858 |
|  MoonLake Immunotherapeutics, Class A(x)\* | 10732 | 76948 |
|  Natera, Inc.\* | 10315 | 1660406 |
|  Neurocrine Biosciences, Inc.\* | 7252 | 1018036 |
|  Newamsterdam Pharma Co. NV(x)\* | 1400 | 39816 |
|  Nuvalent, Inc., Class A\* | 7422 | 641855 |
|  ORIC Pharmaceuticals, Inc.(x)\* | 12900 | 154800 |
|  Oruka Therapeutics, Inc.(x)\* | 6893 | 132552 |
|  Praxis Precision Medicines, Inc.\* | 4486 | 237758 |
|  Prelude Therapeutics, Inc.\* | 10946 | 15762 |
|  Protagonist Therapeutics, Inc.\* | 14729 | 978448 |
|  Regeneron Pharmaceuticals, Inc. | 4427 | 2489169 |
|  Relay Therapeutics, Inc.\* | 21592 | 112710 |
|  Replimune Group, Inc.(x)\* | 28411 | 119042 |
|  Revolution Medicines, Inc.\* | 23813 | 1112067 |
|  Rhythm Pharmaceuticals, Inc.\* | 5782 | 583924 |
|  Rocket Pharmaceuticals, Inc.\* | 16956 | 55277 |
|  Roivant Sciences Ltd.\* | 31715 | 479848 |
|  Scholar Rock Holding Corp.(x)\* | 29946 | 1115189 |
|  Sensorion SA(x)\* | 125889 | 50252 |
|  Sionna Therapeutics, Inc.\* | 3195 | 93965 |
|  Soleno Therapeutics, Inc.(x)\* | 10987 | 742721 |
|  Spyre Therapeutics, Inc.(x)\* | 9373 | 157092 |
|  Summit Therapeutics, Inc.(x)\* | 51126 | 1056263 |
|  Ultragenyx Pharmaceutical, Inc.\* | 11536 | 347003 |
|  uniQure NV\* | 8877 | 518151 |
|  United Therapeutics Corp.\* | 3343 | 1401419 |
|  UroGen Pharma Ltd.(x)\* | 4200 | 83790 |
|  Vaxcyte, Inc.\* | 14294 | 514870 |
|  Vera Therapeutics, Inc., Class A\* | 21333 | 619937 |
|  Verastem, Inc.\* | 6700 | 59161 |
|  Vertex Pharmaceuticals, Inc.\* | 9797 | 3836897 |
|  Viridian Therapeutics, Inc.\* | 6600 | 142428 |
|  Voyager Therapeutics, Inc.(x)\* | 14167 | 66160 |
|  Xencor, Inc.\* | 12906 | 151387 |
|  Zai Lab Ltd. (ADR)(x)\* | 12968 | 439486 |
|  |  | 74114591 |
|  ***Health Care Equipment & Supplies (15.0%)*** |  |  |
|  Beta Bionics, Inc.(x)\* | 5021 | 99767 |
|  Boston Scientific Corp.\* | 39577 | 3863903 |
|  Dexcom, Inc.\* | 5431 | 365452 |
|  IDEXX Laboratories, Inc.\* | 1671 | 1067585 |
|  Intuitive Surgical, Inc.\* | 16955 | 7582785 |
|  Kestra Medical Technologies Ltd.(x)\* | 8226 | 195450 |
|  Orchestra BioMed Holdings, Inc.\* | 9046 | 22434 |
|  Penumbra, Inc.\* | 8645 | 2189951 |
|  PROCEPT BioRobotics Corp.(x)\* | 8332 | 297369 |
|  Sonova Holding AG (Registered) | 2374 | 645950 |
|  Stryker Corp. | 19772 | 7309115 |
|  |  | 23639761 |
|  ***Health Care Providers & Services (15.0%)*** |  |  |
|  Alignment Healthcare, Inc.\* | 24676 | 430596 |
|  BrightSpring Health Services, Inc.\* | 36843 | 1089079 |
|  Cardinal Health, Inc. | 6182 | 970327 |
|  Cencora, Inc. | 3993 | 1247932 |
|  Centene Corp.\* | 4700 | 167696 |
|  Cigna Group (The) | 9122 | 2629417 |
|  CVS Health Corp. | 21756 | 1640185 |
|  Elevance Health, Inc. | 4909 | 1586196 |
|  Encompass Health Corp. | 5005 | 635735 |
|  GeneDx Holdings Corp., Class A\* | 1347 | 145126 |
|  Guardant Health, Inc.\* | 17607 | 1100085 |
|  HCA Healthcare, Inc. | 3425 | 1459735 |
|  Hims & Hers Health, Inc.\* | 1900 | 107768 |
|  McKesson Corp. | 470 | 363094 |
|  Molina Healthcare, Inc.\* | 1920 | 367411 |
|  Quest Diagnostics, Inc. | 6256 | 1192269 |
|  RadNet, Inc.\* | 2100 | 160041 |
|  Tenet Healthcare Corp.\* | 8776 | 1781879 |

---

See Notes to Portfolio of Investments.

815

------

**EQ ADVISORS TRUST** 

EQ/T. ROWE PRICE HEALTH SCIENCES PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  UnitedHealth Group, Inc. | 18924 | $6534457 |
|  |  | 23609028 |
|  ***Health Care Technology (0.8%)*** |  |  |
|  HeartFlow, Inc.(x)\* | 7031 | 236664 |
|  Veeva Systems, Inc., Class A\* | 3107 | 925606 |
|  |  | 1162270 |
|  ***Life Sciences Tools & Services (8.0%)*** |  |  |
|  Bio-Rad Laboratories, Inc., Class A\* | 800 | 224312 |
|  Bio-Techne Corp. | 4300 | 239209 |
|  Danaher Corp. | 20121 | 3989189 |
|  Ginkgo Bioworks Holdings, Inc., Class A\* | 1346 | 19625 |
|  ICON plc\* | 1397 | 244475 |
|  IQVIA Holdings, Inc.\* | 2672 | 507520 |
|  Repligen Corp.\* | 1800 | 240606 |
|  Revvity, Inc. | 5889 | 516171 |
|  Sartorius AG (Preference)(q) | 1488 | 345728 |
|  Tempus AI, Inc., Class A(x)\* | 3277 | 264486 |
|  Thermo Fisher Scientific, Inc. | 12384 | 6006488 |
|  Waters Corp.\* | 300 | 89943 |
|  |  | 12687752 |
|  ***Pharmaceuticals (14.7%)*** |  |  |
|  AstraZeneca plc (ADR) | 48865 | 3748923 |
|  Axsome Therapeutics, Inc.\* | 3814 | 463210 |
|  Chugai Pharmaceutical Co. Ltd. | 10600 | 462175 |
|  Crinetics Pharmaceuticals, Inc.\* | 20882 | 869735 |
|  Eisai Co. Ltd. | 4700 | 158113 |
|  Eli Lilly & Co. | 18072 | 13788936 |
|  Enliven Therapeutics, Inc.(x)\* | 4322 | 88471 |
|  LB Pharmaceuticals, Inc.\* | 3185 | 50291 |
|  LENZ Therapeutics, Inc.(x)\* | 2800 | 130424 |
|  MBX Biosciences, Inc.\* | 14297 | 250198 |
|  MediWound Ltd.\* | 3946 | 71107 |
|  Merck & Co., Inc. | 4900 | 411257 |
|  Pharvaris NV\* | 12724 | 317464 |
|  Rapport Therapeutics, Inc.(x)\* | 15439 | 458538 |
|  Royalty Pharma plc, Class A | 10297 | 363278 |
|  Sanofi SA (ADR) | 19412 | 916247 |
|  Structure Therapeutics, Inc. (ADR)(x)\* | 6589 | 184492 |
|  Tarsus Pharmaceuticals, Inc.\* | 5721 | 339999 |
|  WaVe Life Sciences Ltd.\* | 16477 | 120612 |
|  |  | 23193470 |
|  **Total Common Stocks (100.4%)**<br> *(Cost $107,901,907)* |  | 158406872 |
|  | **Number of<br>Warrants** | **Value**<br>**(Note 1)** |
|  WARRANTS: |  |  |
|  **Health Care (0.0%)†** |  |  |
|  ***Biotechnology (0.0%)†*** |  |  |
|  Revolution Medicines, Inc.,expiring 12/17/26\* | 3127 | 938 |
|  ***Health Care Providers & Services (0.0%)†*** |  |  |
|  GeneDx Holdings Corp.,expiring 7/22/26\* | 3332 | 365 |
|  ***Life Sciences Tools & Services (0.0%)*** |  |  |
|  SomaLogic, Inc.,expiring 8/31/26(r)\* | 1418 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 1303 |
|  **Total Warrants (0.0%)†***<br>(Cost $—)* |  | 1303 |
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (1.5%)** |  |  |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 300000 | 300000 |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 300000 | 300000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 1843683 | 1843683 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 2443683 |
|  **Total Short-Term Investments (1.5%)**<br> *(Cost $2,443,683)* |  | 2443683 |
|  **Total Investments in Securities (101.9%)**<br> *(Cost $110,345,590)* |  | 160851858 |
|  **Other Assets Less Liabilities (-1.9%)** |  | (2943049) |
|  **Net Assets (100%)** |  | $157908809 |

---

See Notes to Portfolio of Investments.

816

------

**EQ ADVISORS TRUST** 

EQ/T. ROWE PRICE HEALTH SCIENCES PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*\** *Non-income producing.* 

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

*(q)* *Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $7,908,974. This was collateralized by $5,634,190 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.250%, maturing 10/9/25 – 5/15/55 and by cash of $2,443,683 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

See Notes to Portfolio of Investments.

817

------

**EQ ADVISORS TRUST** 

EQ/T. ROWE PRICE HEALTH SCIENCES PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs**<br>**(including quoted prices**<br>**for similar securities,**<br>**interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant Unobservable**<br>**Inputs (including the**<br>**Portfolio's own**<br>**assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Health Care | $153681796 | $4725076 | $— | $158406872 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 2443683 |  |  | 2443683 |
|  **Warrants** |  |  |  |  |
|  Health Care | 1303 |  | — (a) | 1303 |
|  **Total Assets** | $**156126782** | $**4725076** | $**—** | $**160851858** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**156126782** | $**4725076** | $**—** | $**160851858** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $58342700 |
|  Aggregate gross unrealized depreciation | (9128889) |
|  Net unrealized appreciation | $49213811 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $111638047 |

---

See Notes to Portfolio of Investments.

818

------

**EQ ADVISORS TRUST** 

EQ/VALUE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (5.2%)** |  |  |
|  ***Diversified Telecommunication Services (2.1%)*** |  |  |
|  Verizon Communications, Inc. | 742945 | $32652433 |
|  ***Interactive Media & Services (3.1%)*** |  |  |
|  Alphabet, Inc., Class C | 194433 | 47354157 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 80006590 |
|  **Consumer Discretionary (7.8%)** |  |  |
|  ***Household Durables (5.8%)*** |  |  |
|  Lennar Corp., Class A | 319069 | 40215457 |
|  Sony Group Corp. (ADR)(x) | 1694256 | 48777630 |
|  |  | 88993087 |
|  ***Specialty Retail (2.0%)*** |  |  |
|  Lowe's Cos., Inc. | 122356 | 30749286 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 119742373 |
|  **Consumer Staples (4.6%)** |  |  |
|  ***Beverages (2.9%)*** |  |  |
|  Coca-Cola Co. (The) | 472899 | 31362661 |
|  Constellation Brands, Inc., Class A | 97307 | 13104334 |
|  |  | 44466995 |
|  ***Household Products (1.7%)*** |  |  |
|  Procter & Gamble Co. (The) | 176576 | 27130903 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 71597898 |
|  **Energy (3.5%)** |  |  |
|  ***Oil, Gas & Consumable Fuels (3.5%)*** |  |  |
|  Coterra Energy, Inc. | 1106825 | 26176411 |
|  TotalEnergies SE (ADR) | 452730 | 27023454 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 53199865 |
|  **Financials (21.2%)** |  |  |
|  ***Banks (10.5%)*** |  |  |
|  Commerce Bancshares, Inc. | 123349 | 7371336 |
|  Cullen/Frost Bankers, Inc. | 184451 | 23382853 |
|  Mitsubishi UFJ Financial Group, Inc. (ADR)(x) | 2257207 | 35979879 |
|  PNC Financial Services Group, Inc. (The) | 160091 | 32167085 |
|  US Bancorp | 742460 | 35883092 |
|  Wells Fargo & Co. | 325713 | 27301264 |
|  |  | 162085509 |
|  ***Capital Markets (5.0%)*** |  |  |
|  Ameriprise Financial, Inc. | 84933 | 41723336 |
|  Blackstone, Inc. | 201598 | 34443019 |
|  |  | 76166355 |
|  ***Consumer Finance (3.5%)*** |  |  |
|  Capital One Financial Corp. | 253286 | 53843538 |
|  ***Insurance (2.2%)*** |  |  |
|  American International Group, Inc. | 415351 | 32621668 |
|  Sony Financial Group, Inc. (ADR)\* | 338851 | 1253749 |
|  |  | 33875417 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 325970819 |
|  **Health Care (8.6%)** |  |  |
|  ***Biotechnology (2.2%)*** |  |  |
|  Amgen, Inc. | 119108 | 33612278 |
|  ***Health Care Equipment & Supplies (3.2%)*** |  |  |
|  Alcon AG(x) | 339144 | 25269620 |
|  Medtronic plc | 246776 | 23502946 |
|  |  | 48772566 |
|  ***Life Sciences Tools & Services (1.7%)*** |  |  |
|  Danaher Corp. | 134150 | 26596579 |
|  ***Pharmaceuticals (1.5%)*** |  |  |
|  Merck & Co., Inc. | 279067 | 23422093 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 132403516 |
|  **Industrials (11.3%)** |  |  |
|  ***Aerospace & Defense (2.3%)*** |  |  |
|  General Dynamics Corp. | 102197 | 34849177 |
|  ***Ground Transportation (2.4%)*** |  |  |
|  Uber Technologies, Inc.\* | 384190 | 37639094 |
|  ***Machinery (6.6%)*** |  |  |
|  Oshkosh Corp. | 185594 | 24071542 |
|  Parker-Hannifin Corp. | 101207 | 76730087 |
|  |  | 100801629 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 173289900 |
|  **Information Technology (15.4%)** |  |  |
|  ***Electronic Equipment, Instruments & Components (2.4%)*** |  |  |
|  Teledyne Technologies, Inc.\* | 62585 | 36677313 |
|  ***Semiconductors & Semiconductor Equipment (4.4%)*** |  |  |
|  Microchip Technology, Inc. | 458622 | 29452705 |
|  QUALCOMM, Inc. | 229988 | 38260804 |
|  |  | 67713509 |
|  ***Software (8.6%)*** |  |  |
|  Adobe, Inc.\* | 84056 | 29650754 |
|  Microsoft Corp. | 128611 | 66614067 |
|  Synopsys, Inc.\* | 71963 | 35505825 |
|  |  | 131770646 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 236161468 |
|  **Materials (12.8%)** |  |  |
|  ***Chemicals (9.8%)*** |  |  |
|  Air Products and Chemicals, Inc. | 106604 | 29073043 |
|  Corteva, Inc. | 734925 | 49702978 |
|  Ecolab, Inc. | 143595 | 39324927 |
|  RPM International, Inc. | 279553 | 32953707 |
|  |  | 151054655 |
|  ***Construction Materials (3.0%)*** |  |  |
|  Martin Marietta Materials, Inc. | 73109 | 46079140 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 197133795 |
|  **Real Estate (1.3%)** |  |  |
|  ***Residential REITs (1.3%)*** |  |  |
|  Equity LifeStyle Properties, Inc. (REIT) | 329565 | 20004595 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 20004595 |
|  **Utilities (7.1%)** |  |  |
|  ***Electric Utilities (2.3%)*** |  |  |
|  Xcel Energy, Inc. | 429407 | 34631675 |
|  ***Gas Utilities (2.8%)*** |  |  |
|  Atmos Energy Corp. | 250280 | 42735310 |
|  ***Water Utilities (2.0%)*** |  |  |
|  American Water Works Co., Inc. | 224650 | 31269033 |

---

See Notes to Portfolio of Investments.

819

------

**EQ ADVISORS TRUST** 

EQ/VALUE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | $108636018 |
|  **Total Common Stocks (98.8%)**<br> *(Cost $1,144,159,095)* |  | 1518146837 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.9%)** |  |  |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 3000000 | 3000000 |
|  Goldman Sachs Financial Square Government Fund 4.03% (7 day yield) (xx) | 2000000 | 2000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 8102666 | 8102666 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 13102666 |
|  **Total Short-Term Investments (0.9%)**<br> *(Cost $13,102,666)* |  | 13102666 |
|  **Total Investments in Securities (99.7%)**<br> *(Cost $1,157,261,761)* |  | 1531249503 |
|  **Other Assets Less Liabilities (0.3%)** |  | 3970376 |
|  **Net Assets (100%)** |  | $1535219879 |

---

*\** *Non-income producing.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $84,887,640. This was collateralized by $73,507,745 of various U.S. Government Treasury Securities, ranging from 0.000% – 5.375%, maturing 10/9/25 – 5/15/55 and by cash of $13,102,666 which was subsequently invested in investment companies.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

*REIT — Real Estate Investment Trust* 

See Notes to Portfolio of Investments.

820

------

**EQ ADVISORS TRUST** 

EQ/VALUE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs**<br>**(including quoted prices**<br>**for similar securities,**<br>**interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant Unobservable**<br>**Inputs (including the**<br>**Portfolio's own**<br>**assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $80006590 | $— | $— | $80006590 |
|  Consumer Discretionary | 119742373 |  |  | 119742373 |
|  Consumer Staples | 71597898 |  |  | 71597898 |
|  Energy | 53199865 |  |  | 53199865 |
|  Financials | 324717070 | 1253749 |  | 325970819 |
|  Health Care | 132403516 |  |  | 132403516 |
|  Industrials | 173289900 |  |  | 173289900 |
|  Information Technology | 236161468 |  |  | 236161468 |
|  Materials | 197133795 |  |  | 197133795 |
|  Real Estate | 20004595 |  |  | 20004595 |
|  Utilities | 108636018 |  |  | 108636018 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 13102666 |  |  | 13102666 |
|  **Total Assets** | $**1529995754** | $**1253749** | $**—** | $**1531249503** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**1529995754** | $**1253749** | $**—** | $**1531249503** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $413993937 |
|  Aggregate gross unrealized depreciation | (40006877) |
|  Net unrealized appreciation | $373987060 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1157262443 |

---

See Notes to Portfolio of Investments.

821

------

**EQ ADVISORS TRUST** 

EQ/WELLINGTON ENERGY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Energy (86.8%)** |  |  |
|  ***Energy Equipment & Services (3.5%)*** |  |  |
|  Schlumberger NV | 62255 | $2139704 |
|  Tenaris SA | 70481 | 1256945 |
|  Tenaris SA (ADR) | 41111 | 1470541 |
|  |  | 4867190 |
|  ***Oil, Gas & Consumable Fuels (83.3%)*** |  |  |
|  Antero Resources Corp.\* | 42792 | 1436100 |
|  ARC Resources Ltd. | 202352 | 3690230 |
|  BP plc (ADR) | 51166 | 1763180 |
|  Cameco Corp. | 17908 | 1501765 |
|  Canadian Natural Resources Ltd. | 51892 | 1658468 |
|  Cenovus Energy, Inc.(x) | 98225 | 1668843 |
|  Chevron Corp. | 77528 | 12039323 |
|  ConocoPhillips | 31438 | 2973720 |
|  Coterra Energy, Inc. | 219811 | 5198530 |
|  Diamondback Energy, Inc. | 21908 | 3135035 |
|  Enbridge, Inc. | 44089 | 2224250 |
|  EOG Resources, Inc. | 30192 | 3385127 |
|  EQT Corp. | 87402 | 4757291 |
|  Equinor ASA | 157396 | 3838869 |
|  Equinor ASA (ADR) | 37941 | 925002 |
|  Expand Energy Corp. | 39607 | 4207848 |
|  Exxon Mobil Corp. | 79328 | 8944232 |
|  LUKOIL PJSC (ADR)(r)\* | 41176 |  |
|  Marathon Petroleum Corp. | 41823 | 8060965 |
|  ONEOK, Inc. | 59211 | 4320627 |
|  Petroleo Brasileiro SA - Petrobras | 379980 | 2403143 |
|  Phillips 66 | 16526 | 2247866 |
|  Shell plc | 358827 | 12771650 |
|  Shell plc (ADR) | 16093 | 1151132 |
|  Targa Resources Corp. | 23701 | 3970866 |
|  TotalEnergies SE | 98737 | 5996654 |
|  TotalEnergies SE (ADR) | 46384 | 2768661 |
|  Williams Cos., Inc. (The) | 109166 | 6915666 |
|  |  | 113955043 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 118822233 |
|  **Information Technology (0.9%)** |  |  |
|  ***Semiconductors & Semiconductor Equipment (0.9%)*** |  |  |
|  First Solar, Inc.\* | 5318 | 1172779 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 1172779 |
|  **Utilities (11.3%)** |  |  |
|  ***Electric Utilities (5.8%)*** |  |  |
|  American Electric Power Co., Inc. | 14347 | 1614037 |
|  Duke Energy Corp. | 9076 | 1123155 |
|  Enel SpA | 93420 | 884677 |
|  Iberdrola SA | 72966 | 1379647 |
|  Kansai Electric Power Co., Inc. (The) | 8627 | 123584 |
|  NextEra Energy, Inc. | 21545 | 1626432 |
|  Southern Co. (The) | 12575 | 1191733 |
|  |  | 7943265 |
|  ***Multi-Utilities (5.5%)*** |  |  |
|  E.ON SE | 44815 | 842630 |
|  Engie SA | 79894 | 1712311 |
|  National Grid plc | 80631 | 1157604 |
|  Sempra | 28571 | 2570819 |
|  WEC Energy Group, Inc. | 10738 | 1230467 |
|  |  | 7513831 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 15457096 |
|  **Total Investments in Securities (99.0%)**<br>*(Cost $100,548,567)* |  | 135452108 |
|  **Other Assets Less Liabilities (1.0%)** |  | 1416947 |
|  **Net Assets (100%)** |  | $136869055 |

---

*\** *Non-income producing.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025, the Portfolio had loaned securities with a total value of $1,075,467. This was collateralized by $1,117,829 of various U.S. Government Treasury Securities, ranging from 0.125% – 5.375%, maturing 7/15/26 – 2/15/55.* 

*Glossary:* 

*ADR — American Depositary Receipt* 

See Notes to Portfolio of Investments.

822

------

**EQ ADVISORS TRUST** 

EQ/WELLINGTON ENERGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Energy | $94958115 | $23864118 | $— (a) | $118822233 |
|  Information Technology | 1172779 |  |  | 1172779 |
|  Utilities | 9356643 | 6100453 |  | 15457096 |
|  **Total Assets** | $**105487537** | $**29964571** | $**—** | $**135452108** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**105487537** | $**29964571** | $**—** | $**135452108** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $39624880 |
|  Aggregate gross unrealized depreciation | (4882770) |
|  Net unrealized appreciation | $34742110 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $100709998 |

---

See Notes to Portfolio of Investments.

823

------

**EQ ADVISORS TRUST** 

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (8.9%)** |  |  |
|  ***Diversified Telecommunication Services (0.0%)†*** |  |  |
|  AST SpaceMobile, Inc., Class A\* | 2500 | $122700 |
|  Cogent Communications Holdings, Inc.(x) | 600 | 23010 |
|  GCI Liberty, Inc., Class C\* | 100 | 3727 |
|  Globalstar, Inc.(x)\* | 753 | 27402 |
|  IDT Corp., Class B | 300 | 15693 |
|  Iridium Communications, Inc. | 1200 | 20952 |
|  Lumen Technologies, Inc.\* | 11200 | 68544 |
|  |  | 282028 |
|  ***Entertainment (1.7%)*** |  |  |
|  Atlanta Braves Holdings, Inc., Class C\* | 600 | 24954 |
|  Cinemark Holdings, Inc. | 1200 | 33624 |
|  Liberty Media Corp.-Liberty Formula One, Class C\* | 1000 | 104450 |
|  Live Nation Entertainment, Inc.\* | 2200 | 359480 |
|  Madison Square Garden Entertainment Corp., Class A\* | 500 | 22620 |
|  Netflix, Inc.\* | 20726 | 24848816 |
|  ROBLOX Corp., Class A\* | 8700 | 1205124 |
|  Roku, Inc.\* | 200 | 20026 |
|  Spotify Technology SA\* | 7559 | 5276182 |
|  Take-Two Interactive Software, Inc.\* | 900 | 232524 |
|  TKO Group Holdings, Inc., Class A | 400 | 80784 |
|  |  | 32208584 |
|  ***Interactive Media & Services (7.2%)*** |  |  |
|  Alphabet, Inc., Class A | 205933 | 50062312 |
|  Alphabet, Inc., Class C | 40075 | 9760266 |
|  Cargurus, Inc., Class A\* | 1200 | 44676 |
|  fuboTV, Inc.\* | 5100 | 21165 |
|  Grindr, Inc.\* | 1100 | 16522 |
|  Meta Platforms, Inc., Class A | 88271 | 64824457 |
|  Pinterest, Inc., Class A\* | 4500 | 144765 |
|  Reddit, Inc., Class A\* | 55400 | 12741446 |
|  Rumble, Inc.(x)\* | 2900 | 20996 |
|  TripAdvisor, Inc.\* | 1200 | 19512 |
|  Trump Media & Technology Group Corp.(x)\* | 1300 | 21346 |
|  Yelp, Inc., Class A\* | 1100 | 34320 |
|  |  | 137711783 |
|  ***Media (0.0%)†*** |  |  |
|  DoubleVerify Holdings, Inc.\* | 2000 | 23960 |
|  John Wiley & Sons, Inc., Class A | 500 | 20235 |
|  Liberty Broadband Corp., Class C\* | 500 | 31770 |
|  Magnite, Inc.\* | 1900 | 41382 |
|  Nexstar Media Group, Inc., Class A(x) | 200 | 39548 |
|  Trade Desk, Inc. (The), Class A\* | 6400 | 313664 |
|  |  | 470559 |
|  ***Wireless Telecommunication Services (0.0%)†*** |  |  |
|  Gogo, Inc.\* | 1300 | 11167 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 170684121 |
|  **Consumer Discretionary (8.4%)** |  |  |
|  ***Automobile Components (0.0%)†*** |  |  |
|  Dorman Products, Inc.\* | 400 | 62352 |
|  LCI Industries | 200 | 18630 |
|  Modine Manufacturing Co.\* | 700 | 99512 |
|  Patrick Industries, Inc.(x) | 500 | 51715 |
|  |  | 232209 |
|  ***Automobiles (1.2%)*** |  |  |
|  Tesla, Inc.\* | 53130 | 23627974 |
|  ***Broadline Retail (3.4%)*** |  |  |
|  Amazon.com, Inc.\* | 266291 | 58469515 |
|  Coupang, Inc., Class A\* | 117506 | 3783693 |
|  Etsy, Inc.\* | 1000 | 66390 |
|  MercadoLibre, Inc.\* | 1164 | 2720198 |
|  |  | 65039796 |
|  ***Distributors (0.0%)†*** |  |  |
|  Pool Corp. | 112 | 34728 |
|  ***Diversified Consumer Services (0.1%)*** |  |  |
|  Adtalem Global Education, Inc.\* | 500 | 77225 |
|  Bright Horizons Family Solutions, Inc.\* | 200 | 21714 |
|  Coursera, Inc.\* | 2000 | 23420 |
|  Duolingo, Inc., Class A\* | 500 | 160920 |
|  Frontdoor, Inc.\* | 1100 | 74019 |
|  Grand Canyon Education, Inc.\* | 100 | 21952 |
|  H&R Block, Inc. | 700 | 35399 |
|  Laureate Education, Inc.\* | 900 | 28386 |
|  McGraw Hill, Inc.\* | 1600 | 20080 |
|  Mister Car Wash, Inc.\* | 4600 | 24518 |
|  OneSpaWorld Holdings Ltd. | 1300 | 27482 |
|  Stride, Inc.\* | 600 | 89364 |
|  |  | 604479 |
|  ***Hotels, Restaurants & Leisure (2.2%)*** |  |  |
|  Airbnb, Inc., Class A\* | 6100 | 740662 |
|  Booking Holdings, Inc. | 1193 | 6441329 |
|  Brinker International, Inc.\* | 600 | 76008 |
|  Carnival Corp.\* | 5200 | 150332 |
|  Cava Group, Inc.\* | 1700 | 102697 |
|  Cheesecake Factory, Inc. (The)(x) | 800 | 43712 |
|  Chipotle Mexican Grill, Inc.\* | 70648 | 2768695 |
|  Choice Hotels International, Inc.(x) | 200 | 21382 |
|  Churchill Downs, Inc. | 900 | 87309 |
|  Darden Restaurants, Inc. | 1600 | 304576 |
|  Domino's Pizza, Inc. | 108 | 46625 |
|  DoorDash, Inc., Class A\* | 57873 | 15740877 |
|  DraftKings, Inc., Class A\* | 6900 | 258060 |
|  Dutch Bros, Inc., Class A\* | 196600 | 10290044 |
|  Expedia Group, Inc. | 1700 | 363375 |
|  Flutter Entertainment plc, Class DI\* | 2100 | 533400 |
|  Genius Sports Ltd.\* | 2900 | 35902 |
|  Global Business Travel Group I\* | 2700 | 21816 |
|  Hilton Grand Vacations, Inc.\* | 1000 | 41810 |
|  Hilton Worldwide Holdings, Inc. | 3300 | 856152 |
|  Las Vegas Sands Corp. | 4700 | 252813 |
|  Life Time Group Holdings, Inc.\* | 1800 | 49680 |
|  Light & Wonder, Inc.\* | 1300 | 109122 |
|  Marriott International, Inc., Class A | 2500 | 651100 |
|  McDonald's Corp. | 568 | 172609 |
|  Monarch Casino & Resort, Inc. | 200 | 21168 |
|  Norwegian Cruise Line Holdings Ltd.\* | 6300 | 155169 |
|  Planet Fitness, Inc., Class A\* | 1300 | 134940 |
|  Red Rock Resorts, Inc., Class A | 400 | 24424 |
|  Restaurant Brands International, Inc. | 3200 | 205248 |
|  Royal Caribbean Cruises Ltd. | 3600 | 1164888 |
|  Rush Street Interactive, Inc.\* | 1300 | 26624 |
|  Shake Shack, Inc., Class A\* | 500 | 46805 |
|  Six Flags Entertainment Corp.(x)\* | 900 | 20448 |
|  Starbucks Corp. | 2353 | 199064 |
|  Super Group SGHC Ltd. | 2100 | 27720 |
|  Sweetgreen, Inc., Class A(x)\* | 1300 | 10374 |
|  Texas Roadhouse, Inc., Class A | 900 | 149535 |
|  Travel + Leisure Co. | 400 | 23796 |
|  United Parks & Resorts, Inc.(x)\* | 400 | 20680 |
|  Vail Resorts, Inc. | 400 | 59828 |

---

See Notes to Portfolio of Investments.

824

------

**EQ ADVISORS TRUST** 

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Viking Holdings Ltd.\* | 2700 | $167832 |
|  Wendy's Co. (The) | 2400 | 21984 |
|  Wingstop, Inc.(x) | 400 | 100672 |
|  Wyndham Hotels & Resorts, Inc. | 900 | 71910 |
|  Yum! Brands, Inc. | 1300 | 197600 |
|  |  | 43010796 |
|  ***Household Durables (0.0%)†*** |  |  |
|  Cavco Industries, Inc.\* | 100 | 58073 |
|  Champion Homes, Inc.\* | 700 | 53459 |
|  Green Brick Partners, Inc.\* | 600 | 44316 |
|  Installed Building Products, Inc.(x) | 300 | 73998 |
|  SharkNinja, Inc.\* | 200 | 20630 |
|  Somnigroup International, Inc. | 2900 | 244557 |
|  Sonos, Inc.\* | 1500 | 23700 |
|  |  | 518733 |
|  ***Leisure Products (0.0%)†*** |  |  |
|  Acushnet Holdings Corp. | 600 | 47094 |
|  ***Specialty Retail (1.4%)*** |  |  |
|  Abercrombie & Fitch Co., Class A\* | 600 | 51330 |
|  Boot Barn Holdings, Inc.\* | 400 | 66288 |
|  Buckle, Inc. (The) | 400 | 23464 |
|  Build-A-Bear Workshop, Inc.(x) | 400 | 26084 |
|  Burlington Stores, Inc.\* | 900 | 229050 |
|  Camping World Holdings, Inc., Class A | 1200 | 18948 |
|  Carvana Co.\* | 35500 | 13392020 |
|  Chewy, Inc., Class A\* | 2800 | 113260 |
|  Floor & Decor Holdings, Inc., Class A\* | 500 | 36850 |
|  Group 1 Automotive, Inc. | 100 | 43751 |
|  Home Depot, Inc. (The) | 10874 | 4406036 |
|  Murphy USA, Inc. | 300 | 116478 |
|  O'Reilly Automotive, Inc.\* | 63740 | 6871809 |
|  Petco Health & Wellness Co., Inc., Class A\* | 7100 | 27477 |
|  Revolve Group, Inc., Class A\* | 1000 | 21300 |
|  RH(x)\* | 100 | 20316 |
|  Ross Stores, Inc. | 874 | 133189 |
|  Sonic Automotive, Inc., Class A | 300 | 22827 |
|  ThredUp, Inc., Class A\* | 2900 | 27405 |
|  TJX Cos., Inc. (The) | 7986 | 1154297 |
|  Tractor Supply Co. | 7540 | 428800 |
|  Ulta Beauty, Inc.\* | 204 | 111537 |
|  Upbound Group, Inc. | 900 | 21267 |
|  Urban Outfitters, Inc.(x)\* | 300 | 21429 |
|  Valvoline, Inc.\* | 1500 | 53865 |
|  Victoria's Secret & Co.\* | 1100 | 29854 |
|  Warby Parker, Inc., Class A\* | 1300 | 35854 |
|  Wayfair, Inc., Class A\* | 400 | 35732 |
|  Williams-Sonoma, Inc. | 200 | 39090 |
|  |  | 27579607 |
|  ***Textiles, Apparel & Luxury Goods (0.1%)*** |  |  |
|  Deckers Outdoor Corp.\* | 2100 | 212877 |
|  Hanesbrands, Inc.\* | 4800 | 31632 |
|  Kontoor Brands, Inc. | 700 | 55839 |
|  Lululemon Athletica, Inc.\* | 800 | 142344 |
|  On Holding AG, Class A\* | 3000 | 127050 |
|  Ralph Lauren Corp. | 100 | 31356 |
|  Steven Madden Ltd. | 1000 | 33480 |
|  Tapestry, Inc. | 2700 | 305694 |
|  Wolverine World Wide, Inc. | 1100 | 30184 |
|  |  | 970456 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 161665872 |
|  **Consumer Staples (1.5%)** |  |  |
|  ***Beverages (0.9%)*** |  |  |
|  Celsius Holdings, Inc.\* | 250100 | 14378249 |
|  Coca-Cola Co. (The) | 27096 | 1797007 |
|  Monster Beverage Corp.\* | 9946 | 669465 |
|  National Beverage Corp.\* | 800 | 29536 |
|  PepsiCo, Inc. | 2718 | 381716 |
|  Vita Coco Co., Inc. (The)\* | 600 | 25482 |
|  |  | 17281455 |
|  ***Consumer Staples Distribution & Retail (0.6%)*** |  |  |
|  BJ's Wholesale Club Holdings, Inc.\* | 300 | 27975 |
|  Casey's General Stores, Inc. | 100 | 56532 |
|  Chefs' Warehouse, Inc. (The)\* | 500 | 29165 |
|  Costco Wholesale Corp. | 9804 | 9074877 |
|  Performance Food Group Co.\* | 300 | 31212 |
|  PriceSmart, Inc.(x) | 300 | 36357 |
|  Sprouts Farmers Market, Inc.\* | 1600 | 174080 |
|  Sysco Corp. | 3666 | 301858 |
|  Walmart, Inc. | 6200 | 638972 |
|  |  | 10371028 |
|  ***Food Products (0.0%)†*** |  |  |
|  Cal-Maine Foods, Inc. | 600 | 56460 |
|  Darling Ingredients, Inc.\* | 600 | 18522 |
|  Freshpet, Inc.\* | 300 | 16533 |
|  Hershey Co. (The) | 238 | 44518 |
|  J & J Snack Foods Corp. | 200 | 19218 |
|  Marzetti Co. (The) | 300 | 51837 |
|  Simply Good Foods Co. (The)\* | 1200 | 29784 |
|  Tootsie Roll Industries, Inc. | 500 | 20960 |
|  Vital Farms, Inc.\* | 500 | 20575 |
|  |  | 278407 |
|  ***Household Products (0.0%)†*** |  |  |
|  Colgate-Palmolive Co. | 5400 | 431676 |
|  Energizer Holdings, Inc. | 900 | 22401 |
|  Kimberly-Clark Corp. | 1700 | 211378 |
|  WD-40 Co. | 200 | 39520 |
|  |  | 704975 |
|  ***Personal Care Products (0.0%)†*** |  |  |
|  Herbalife Ltd.\* | 2400 | 20256 |
|  Interparfums, Inc. | 300 | 29514 |
|  |  | 49770 |
|  ***Tobacco (0.0%)†*** |  |  |
|  Turning Point Brands, Inc. | 300 | 29658 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 28715293 |
|  **Energy (0.1%)** |  |  |
|  ***Energy Equipment & Services (0.0%)†*** |  |  |
|  Archrock, Inc. | 2200 | 57882 |
|  Aris Water Solutions, Inc., Class A | 900 | 22194 |
|  Atlas Energy Solutions, Inc.(x) | 1500 | 17055 |
|  Cactus, Inc., Class A | 900 | 35523 |
|  Kodiak Gas Services, Inc.(x) | 700 | 25879 |
|  Oceaneering International, Inc.\* | 1100 | 27258 |
|  Schlumberger NV | 1567 | 53858 |
|  Seadrill Ltd.\* | 700 | 21147 |
|  Solaris Energy Infrastructure, Inc., Class A | 600 | 23982 |
|  Tidewater, Inc.\* | 600 | 31998 |
|  |  | 316776 |
|  ***Oil, Gas & Consumable Fuels (0.1%)*** |  |  |
|  Centrus Energy Corp., Class A(x)\* | 200 | 62014 |
|  Cheniere Energy, Inc. | 1400 | 328972 |
|  Comstock Resources, Inc.(x)\* | 900 | 17847 |
|  Core Natural Resources, Inc. | 300 | 25044 |
|  CVR Energy, Inc.\* | 700 | 25536 |
|  Delek US Holdings, Inc. | 800 | 25816 |

---

See Notes to Portfolio of Investments.

825

------

**EQ ADVISORS TRUST** 

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Gulfport Energy Corp.\* | 200 | $36196 |
|  HF Sinclair Corp. | 500 | 26170 |
|  Magnolia Oil & Gas Corp., Class A | 900 | 21483 |
|  NextDecade Corp.\* | 1800 | 12222 |
|  Phillips 66 | 400 | 54408 |
|  Sable Offshore Corp.\* | 900 | 15714 |
|  Targa Resources Corp. | 3100 | 519374 |
|  Texas Pacific Land Corp. | 300 | 280092 |
|  Uranium Energy Corp.\* | 5400 | 72036 |
|  Williams Cos., Inc. (The) | 900 | 57015 |
|  |  | 1579939 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 1896715 |
|  **Financials (5.9%)** |  |  |
|  ***Banks (0.4%)*** |  |  |
|  Axos Financial, Inc.\* | 200 | 16930 |
|  BancFirst Corp. | 300 | 37935 |
|  Bancorp, Inc. (The)\* | 700 | 52423 |
|  Bank of America Corp. | 134390 | 6933180 |
|  Bank of Hawaii Corp. | 400 | 26256 |
|  Citigroup, Inc. | 4700 | 477050 |
|  Community Financial System, Inc. | 400 | 23456 |
|  First Bancorp | 2100 | 46305 |
|  First Financial Bankshares, Inc. | 1800 | 60570 |
|  Glacier Bancorp, Inc. | 500 | 24335 |
|  International Bancshares Corp. | 300 | 20625 |
|  NU Holdings Ltd., Class A\* | 47700 | 763677 |
|  Old National Bancorp | 900 | 19755 |
|  Pathward Financial, Inc. | 300 | 22203 |
|  Pinnacle Financial Partners, Inc. | 200 | 18758 |
|  Popular, Inc. | 200 | 25402 |
|  ServisFirst Bancshares, Inc. | 700 | 56371 |
|  Stock Yards Bancorp, Inc. | 300 | 20997 |
|  Texas Capital Bancshares, Inc.\* | 200 | 16906 |
|  Triumph Financial, Inc.\* | 400 | 20016 |
|  UMB Financial Corp. | 200 | 23670 |
|  Valley National Bancorp | 2200 | 23320 |
|  WesBanco, Inc. | 700 | 22351 |
|  Western Alliance Bancorp | 300 | 26016 |
|  |  | 8778507 |
|  ***Capital Markets (1.7%)*** |  |  |
|  Acadian Asset Management, Inc. | 400 | 19264 |
|  Ameriprise Financial, Inc. | 1200 | 589500 |
|  Ares Management Corp., Class A | 11618 | 1857602 |
|  Artisan Partners Asset Management, Inc., Class A | 900 | 39060 |
|  Bank of New York Mellon Corp. (The) | 900 | 98064 |
|  BGC Group, Inc., Class A | 4800 | 45408 |
|  Blackstone, Inc. | 10400 | 1776840 |
|  Blue Owl Capital, Inc., Class A | 9400 | 159142 |
|  Brookfield Asset Management Ltd., Class A(x) | 2200 | 125268 |
|  Charles Schwab Corp. (The) | 2100 | 200487 |
|  Cohen & Steers, Inc. | 400 | 26244 |
|  Coinbase Global, Inc., Class A\* | 300 | 101247 |
|  Donnelley Financial Solutions, Inc.\* | 400 | 20572 |
|  FactSet Research Systems, Inc. | 76 | 21773 |
|  Freedom Holding Corp.(x)\* | 200 | 34426 |
|  Goldman Sachs Group, Inc. (The) | 200 | 159270 |
|  Hamilton Lane, Inc., Class A | 300 | 40437 |
|  Houlihan Lokey, Inc., Class A | 300 | 61596 |
|  Interactive Brokers Group, Inc., Class A | 400 | 27524 |
|  Intercontinental Exchange, Inc. | 21490 | 3620635 |
|  Jefferies Financial Group, Inc. | 700 | 45794 |
|  KKR & Co., Inc. | 36190 | 4702890 |
|  Lazard, Inc. | 400 | 21112 |
|  LPL Financial Holdings, Inc. | 1100 | 365959 |
|  Marex Group plc | 700 | 23534 |
|  Moelis & Co., Class A | 1300 | 92716 |
|  Moody's Corp. | 2197 | 1046827 |
|  Morningstar, Inc. | 200 | 46402 |
|  MSCI, Inc. | 569 | 322856 |
|  Piper Sandler Cos. | 200 | 69398 |
|  PJT Partners, Inc., Class A | 300 | 53319 |
|  Robinhood Markets, Inc., Class A\* | 107300 | 15363214 |
|  StepStone Group, Inc., Class A | 1000 | 65310 |
|  StoneX Group, Inc.(x)\* | 600 | 60552 |
|  TPG, Inc., Class A | 2000 | 114900 |
|  Tradeweb Markets, Inc., Class A | 19514 | 2165664 |
|  Victory Capital Holdings, Inc., Class A | 600 | 38856 |
|  WisdomTree, Inc.(x) | 1700 | 23630 |
|  XP, Inc., Class A | 1200 | 22548 |
|  |  | 33669840 |
|  ***Consumer Finance (0.1%)*** |  |  |
|  Ally Financial, Inc. | 500 | 19600 |
|  American Express Co. | 2620 | 870259 |
|  Dave, Inc.\* | 100 | 19935 |
|  Enova International, Inc.\* | 300 | 34527 |
|  FirstCash Holdings, Inc. | 500 | 79210 |
|  SLM Corp. | 600 | 16608 |
|  SoFi Technologies, Inc.\* | 2600 | 68692 |
|  Upstart Holdings, Inc.(x)\* | 1200 | 60960 |
|  |  | 1169791 |
|  ***Financial Services (3.6%)*** |  |  |
|  Adyen NV (ADR)\* | 53000 | 847470 |
|  Affirm Holdings, Inc., Class A\* | 151300 | 11057004 |
|  Apollo Global Management, Inc. | 4100 | 546407 |
|  AvidXchange Holdings, Inc.\* | 2500 | 24875 |
|  Block, Inc., Class A\* | 128405 | 9279829 |
|  Burford Capital Ltd. | 1800 | 21528 |
|  Cantaloupe, Inc.\* | 2400 | 25368 |
|  Cass Information Systems, Inc. | 500 | 19665 |
|  Corpay, Inc.\* | 1006 | 289789 |
|  Evertec, Inc. | 1000 | 33780 |
|  Federal Agricultural Mortgage Corp., Class C | 100 | 16798 |
|  Fiserv, Inc.\* | 2100 | 270753 |
|  Flywire Corp.\* | 1800 | 24372 |
|  International Money Express, Inc.\* | 2400 | 33528 |
|  Marqeta, Inc., Class A\* | 4000 | 21120 |
|  Mastercard, Inc., Class A | 30673 | 17447109 |
|  NCR Atleos Corp.\* | 1200 | 47172 |
|  Pagseguro Digital Ltd., Class A | 2800 | 28000 |
|  Payoneer Global, Inc.\* | 4000 | 24200 |
|  Paysign, Inc.\* | 3100 | 19499 |
|  Priority Technology Holdings, Inc.\* | 3200 | 21984 |
|  Remitly Global, Inc.\* | 2000 | 32600 |
|  Sezzle, Inc.\* | 200 | 15906 |
|  Shift4 Payments, Inc., Class A(x)\* | 900 | 69660 |
|  StoneCo Ltd., Class A\* | 4300 | 81313 |
|  Toast, Inc., Class A\* | 6400 | 233664 |
|  UWM Holdings Corp., Class A | 5700 | 34713 |
|  Visa, Inc., Class A | 82718 | 28238271 |
|  WEX, Inc.\* | 200 | 31506 |
|  |  | 68837883 |
|  ***Insurance (0.1%)*** |  |  |
|  Aon plc, Class A | 2800 | 998424 |
|  Arthur J Gallagher & Co. | 200 | 61948 |
|  Aspen Insurance Holdings Ltd., Class A\* | 600 | 22026 |

---

See Notes to Portfolio of Investments.

826

------

**EQ ADVISORS TRUST** 

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Baldwin Insurance Group, Inc. (The), Class A\* | 900 | $25389 |
|  Brown & Brown, Inc. | 400 | 37516 |
|  Everest Group Ltd. | 100 | 35023 |
|  F&G Annuities & Life, Inc. | 1000 | 31270 |
|  Goosehead Insurance, Inc., Class A | 300 | 22326 |
|  HCI Group, Inc. | 100 | 19193 |
|  Kinsale Capital Group, Inc. | 400 | 170104 |
|  Lemonade, Inc.(x)\* | 900 | 48177 |
|  Marsh & McLennan Cos., Inc. | 900 | 181377 |
|  Oscar Health, Inc., Class A\* | 2600 | 49218 |
|  Palomar Holdings, Inc.\* | 400 | 46700 |
|  Progressive Corp. (The) | 400 | 98780 |
|  RLI Corp. | 400 | 26088 |
|  Ryan Specialty Holdings, Inc., Class A | 1400 | 78904 |
|  Selective Insurance Group, Inc. | 700 | 56749 |
|  SiriusPoint Ltd.\* | 1100 | 19899 |
|  Skyward Specialty Insurance Group, Inc.\* | 500 | 23780 |
|  Trupanion, Inc.\* | 800 | 34624 |
|  |  | 2087515 |
|  ***Mortgage Real Estate Investment Trusts (REITs) (0.0%)†*** |  |  |
|  Apollo Commercial Real Estate Finance, Inc. (REIT) | 2100 | 21273 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 114564809 |
|  **Health Care (6.2%)** |  |  |
|  ***Biotechnology (2.9%)*** |  |  |
|  89bio, Inc.\* | 1500 | 22050 |
|  AbbVie, Inc. | 25279 | 5853100 |
|  ACADIA Pharmaceuticals, Inc.\* | 2200 | 46948 |
|  ADMA Biologics, Inc.\* | 3000 | 43980 |
|  Akero Therapeutics, Inc.\* | 800 | 37984 |
|  Alkermes plc\* | 2200 | 66000 |
|  Alnylam Pharmaceuticals, Inc.\* | 30500 | 13908000 |
|  Amgen, Inc. | 5620 | 1585964 |
|  Amicus Therapeutics, Inc.\* | 4200 | 33096 |
|  Apellis Pharmaceuticals, Inc.\* | 1700 | 38471 |
|  Apogee Therapeutics, Inc.\* | 500 | 19865 |
|  Arcellx, Inc.\* | 600 | 49260 |
|  Arcutis Biotherapeutics, Inc.\* | 2200 | 41470 |
|  Ardelyx, Inc.\* | 3500 | 19285 |
|  Argenx SE (ADR)\* | 3193 | 2355029 |
|  Arrowhead Pharmaceuticals, Inc.\* | 1600 | 55184 |
|  ARS Pharmaceuticals, Inc.(x)\* | 1100 | 11055 |
|  Ascendis Pharma A/S (ADR)\* | 62910 | 12507137 |
|  Aurinia Pharmaceuticals, Inc.\* | 1700 | 18785 |
|  Avidity Biosciences, Inc.\* | 1500 | 65355 |
|  Beam Therapeutics, Inc.(x)\* | 1300 | 31551 |
|  BioCryst Pharmaceuticals, Inc.\* | 2800 | 21252 |
|  Biohaven Ltd.\* | 1000 | 15010 |
|  Bridgebio Pharma, Inc.\* | 2500 | 129850 |
|  Caris Life Sciences, Inc.\* | 700 | 21175 |
|  Catalyst Pharmaceuticals, Inc.\* | 1900 | 37430 |
|  Celcuity, Inc.\* | 400 | 19760 |
|  CG oncology, Inc.(x)\* | 800 | 32224 |
|  Cogent Biosciences, Inc.\* | 1700 | 24412 |
|  Cytokinetics, Inc.\* | 800 | 43968 |
|  Denali Therapeutics, Inc.\* | 2700 | 39204 |
|  Disc Medicine, Inc.\* | 400 | 26432 |
|  Dyne Therapeutics, Inc.\* | 1400 | 17710 |
|  Exact Sciences Corp.\* | 400 | 21884 |
|  Exelixis, Inc.\* | 3200 | 132160 |
|  Geron Corp.\* | 10400 | 14248 |
|  Gilead Sciences, Inc. | 4800 | 532800 |
|  Halozyme Therapeutics, Inc.\* | 1700 | 124678 |
|  ImmunityBio, Inc.(x)\* | 8500 | 20910 |
|  Immunovant, Inc.\* | 1500 | 24180 |
|  Incyte Corp.\* | 592 | 50208 |
|  Insmed, Inc.\* | 73100 | 10527131 |
|  Ionis Pharmaceuticals, Inc.\* | 2300 | 150466 |
|  Ironwood Pharmaceuticals, Inc., Class A\* | 8500 | 11135 |
|  Krystal Biotech, Inc.\* | 300 | 52959 |
|  Kymera Therapeutics, Inc.(x)\* | 900 | 50940 |
|  Legend Biotech Corp. (ADR)\* | 75830 | 2472816 |
|  Madrigal Pharmaceuticals, Inc.\* | 300 | 137598 |
|  MannKind Corp.\* | 4300 | 23091 |
|  Metsera, Inc.(x)\* | 500 | 26165 |
|  Mineralys Therapeutics, Inc.\* | 600 | 22752 |
|  Mirum Pharmaceuticals, Inc.\* | 800 | 58648 |
|  Natera, Inc.\* | 17300 | 2784781 |
|  Neurocrine Biosciences, Inc.\* | 1146 | 160875 |
|  Novavax, Inc.(x)\* | 2200 | 19074 |
|  Nuvalent, Inc., Class A\* | 500 | 43240 |
|  Protagonist Therapeutics, Inc.\* | 1000 | 66430 |
|  PTC Therapeutics, Inc.\* | 800 | 49096 |
|  Recursion Pharmaceuticals, Inc., Class A(x)\* | 5500 | 26840 |
|  Rhythm Pharmaceuticals, Inc.\* | 700 | 70693 |
|  Sarepta Therapeutics, Inc.\* | 1700 | 32759 |
|  Scholar Rock Holding Corp.\* | 1100 | 40964 |
|  Soleno Therapeutics, Inc.(x)\* | 500 | 33800 |
|  Summit Therapeutics, Inc.(x)\* | 2300 | 47518 |
|  TG Therapeutics, Inc.(x)\* | 1900 | 68638 |
|  Travere Therapeutics, Inc.\* | 1200 | 28680 |
|  Twist Bioscience Corp.\* | 800 | 22512 |
|  Ultragenyx Pharmaceutical, Inc.\* | 1200 | 36096 |
|  Vera Therapeutics, Inc., Class A\* | 800 | 23248 |
|  Veracyte, Inc.\* | 1000 | 34330 |
|  Vericel Corp.\* | 700 | 22029 |
|  Vertex Pharmaceuticals, Inc.\* | 3644 | 1427136 |
|  Viking Therapeutics, Inc.(x)\* | 700 | 18396 |
|  Viridian Therapeutics, Inc.\* | 1100 | 23738 |
|  Xenon Pharmaceuticals, Inc.\* | 1000 | 40150 |
|  |  | 56813788 |
|  ***Health Care Equipment & Supplies (1.1%)*** |  |  |
|  Alphatec Holdings, Inc.\* | 2000 | 29080 |
|  Artivion, Inc.\* | 700 | 29638 |
|  AtriCure, Inc.\* | 700 | 24675 |
|  Boston Scientific Corp.\* | 3600 | 351468 |
|  Dexcom, Inc.\* | 53560 | 3604052 |
|  Glaukos Corp.\* | 700 | 57085 |
|  Haemonetics Corp.\* | 700 | 34118 |
|  ICU Medical, Inc.\* | 200 | 23992 |
|  IDEXX Laboratories, Inc.\* | 1200 | 766668 |
|  Inspire Medical Systems, Inc.\* | 500 | 37100 |
|  Insulet Corp.\* | 976 | 301321 |
|  Integer Holdings Corp.\* | 500 | 51665 |
|  Intuitive Surgical, Inc.\* | 17793 | 7957563 |
|  iRhythm Technologies, Inc.\* | 500 | 85995 |
|  Lantheus Holdings, Inc.\* | 900 | 46161 |
|  LeMaitre Vascular, Inc. | 400 | 35004 |
|  Masimo Corp.\* | 600 | 88530 |
|  Merit Medical Systems, Inc.\* | 800 | 66584 |
|  Novocure Ltd.\* | 1800 | 23256 |
|  Penumbra, Inc.\* | 600 | 151992 |
|  PROCEPT BioRobotics Corp.\* | 600 | 21414 |
|  Pulse Biosciences, Inc.\* | 1300 | 23010 |
|  QuidelOrtho Corp.\* | 800 | 23560 |
|  ResMed, Inc. | 500 | 136865 |
|  Sonova Holding AG (ADR) | 28578 | 1556072 |
|  STAAR Surgical Co.\* | 1400 | 37618 |

---

See Notes to Portfolio of Investments.

827

------

**EQ ADVISORS TRUST** 

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Stryker Corp. | 12525 | $4630117 |
|  Tandem Diabetes Care, Inc.\* | 1400 | 16996 |
|  TransMedics Group, Inc.(x)\* | 500 | 56100 |
|  UFP Technologies, Inc.(x)\* | 100 | 19960 |
|  |  | 20287659 |
|  ***Health Care Providers & Services (0.8%)*** |  |  |
|  Addus HomeCare Corp.\* | 200 | 23598 |
|  agilon health, Inc.\* | 4800 | 4944 |
|  Alignment Healthcare, Inc.\* | 1700 | 29665 |
|  Ardent Health, Inc.\* | 1700 | 22525 |
|  Astrana Health, Inc.(x)\* | 900 | 25515 |
|  BrightSpring Health Services, Inc.(x)\* | 1100 | 32516 |
|  Brookdale Senior Living, Inc.\* | 2700 | 22869 |
|  Cardinal Health, Inc. | 1700 | 266832 |
|  Cencora, Inc. | 2600 | 812578 |
|  Chemed Corp. | 100 | 44774 |
|  Cigna Group (The) | 10767 | 3103588 |
|  Concentra Group Holdings Parent, Inc. | 2000 | 41860 |
|  CorVel Corp.\* | 300 | 23226 |
|  DaVita, Inc.\* | 500 | 66435 |
|  Ensign Group, Inc. (The) | 800 | 138216 |
|  GeneDx Holdings Corp., Class A\* | 300 | 32322 |
|  Guardant Health, Inc.\* | 1600 | 99968 |
|  HCA Healthcare, Inc. | 500 | 213100 |
|  HealthEquity, Inc.\* | 1300 | 123201 |
|  Hims & Hers Health, Inc.\* | 2600 | 147472 |
|  LifeStance Health Group, Inc.\* | 4800 | 26400 |
|  McKesson Corp. | 1643 | 1269283 |
|  Molina Healthcare, Inc.\* | 400 | 76544 |
|  Option Care Health, Inc.\* | 2200 | 61072 |
|  PACS Group, Inc.\* | 1700 | 23341 |
|  Privia Health Group, Inc.\* | 1900 | 47310 |
|  Progyny, Inc.\* | 900 | 19368 |
|  RadNet, Inc.\* | 900 | 68589 |
|  UnitedHealth Group, Inc. | 24415 | 8430499 |
|  |  | 15297610 |
|  ***Health Care Technology (0.0%)†*** |  |  |
|  Doximity, Inc., Class A\* | 2100 | 153615 |
|  Phreesia, Inc.\* | 800 | 18816 |
|  Teladoc Health, Inc.(x)\* | 2600 | 20098 |
|  Veeva Systems, Inc., Class A\* | 1700 | 506447 |
|  Waystar Holding Corp.\* | 1400 | 53088 |
|  |  | 752064 |
|  ***Life Sciences Tools & Services (0.1%)*** |  |  |
|  10X Genomics, Inc., Class A(x)\* | 2400 | 28056 |
|  Adaptive Biotechnologies Corp.\* | 2100 | 31416 |
|  Danaher Corp. | 8433 | 1671927 |
|  Medpace Holdings, Inc.\* | 300 | 154248 |
|  Repligen Corp.\* | 300 | 40101 |
|  Sotera Health Co.\* | 1400 | 22022 |
|  Tempus AI, Inc., Class A\* | 1100 | 88781 |
|  Waters Corp.\* | 400 | 119924 |
|  |  | 2156475 |
|  ***Pharmaceuticals (1.3%)*** |  |  |
|  Amneal Pharmaceuticals, Inc.\* | 2300 | 23023 |
|  Amphastar Pharmaceuticals, Inc.\* | 900 | 23985 |
|  ANI Pharmaceuticals, Inc.\* | 300 | 27480 |
|  Avadel Pharmaceuticals plc (ADR)\* | 1400 | 21378 |
|  Axsome Therapeutics, Inc.\* | 500 | 60725 |
|  Bristol-Myers Squibb Co. | 5600 | 252560 |
|  Corcept Therapeutics, Inc.(x)\* | 1300 | 108043 |
|  Crinetics Pharmaceuticals, Inc.\* | 1200 | 49980 |
|  Edgewise Therapeutics, Inc.\* | 1300 | 21086 |
|  Eli Lilly & Co. | 30044 | 22923572 |
|  Harmony Biosciences Holdings, Inc.\* | 1100 | 30316 |
|  Harrow, Inc.\* | 500 | 24090 |
|  Indivior plc\* | 1400 | 33754 |
|  Innoviva, Inc.\* | 1032 | 18834 |
|  Ligand Pharmaceuticals, Inc.\* | 200 | 35428 |
|  Liquidia Corp.\* | 900 | 20466 |
|  Ocular Therapeutix, Inc.\* | 1900 | 22211 |
|  Prestige Consumer Healthcare, Inc.\* | 300 | 18720 |
|  Supernus Pharmaceuticals, Inc.\* | 600 | 28674 |
|  Tarsus Pharmaceuticals, Inc.\* | 800 | 47544 |
|  Zoetis, Inc. | 5047 | 738477 |
|  |  | 24530346 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 119837942 |
|  **Industrials (5.4%)** |  |  |
|  ***Aerospace & Defense (3.2%)*** |  |  |
|  AAR Corp.\* | 200 | 17934 |
|  AeroVironment, Inc.(x)\* | 32600 | 10265414 |
|  Archer Aviation, Inc., Class A\* | 7200 | 68976 |
|  Axon Enterprise, Inc.\* | 31715 | 22759953 |
|  Boeing Co. (The)\* | 15082 | 3255148 |
|  BWX Technologies, Inc. | 300 | 55311 |
|  GE Aerospace | 15000 | 4512300 |
|  HEICO Corp. | 600 | 193692 |
|  HEICO Corp., Class A | 1120 | 284581 |
|  Howmet Aerospace, Inc. | 64402 | 12637604 |
|  Karman Holdings, Inc.\* | 400 | 28880 |
|  Kratos Defense & Security Solutions, Inc.\* | 2400 | 219288 |
|  Leonardo DRS, Inc. | 400 | 18160 |
|  Loar Holdings, Inc.\* | 500 | 40000 |
|  Lockheed Martin Corp. | 830 | 414344 |
|  Mercury Systems, Inc.\* | 400 | 30960 |
|  Moog, Inc., Class A | 400 | 83068 |
|  Redwire Corp.(x)\* | 1100 | 9889 |
|  Rocket Lab Corp.(x)\* | 5900 | 282669 |
|  StandardAero, Inc.\* | 1300 | 35477 |
|  TransDigm Group, Inc. | 5079 | 6694224 |
|  VSE Corp. | 200 | 33248 |
|  |  | 61941120 |
|  ***Building Products (0.1%)*** |  |  |
|  AAON, Inc. | 973 | 90917 |
|  Armstrong World Industries, Inc. | 200 | 39202 |
|  AZZ, Inc. | 400 | 43652 |
|  Carlisle Cos., Inc. | 100 | 32896 |
|  CSW Industrials, Inc. | 200 | 48550 |
|  Griffon Corp. | 600 | 45690 |
|  Lennox International, Inc. | 500 | 264680 |
|  Tecnoglass, Inc. | 500 | 33455 |
|  Trane Technologies plc | 3200 | 1350272 |
|  Zurn Elkay Water Solutions Corp. | 2100 | 98763 |
|  |  | 2048077 |
|  ***Commercial Services & Supplies (0.2%)*** |  |  |
|  ACV Auctions, Inc., Class A\* | 2000 | 19820 |
|  Brink's Co. (The) | 600 | 70116 |
|  Casella Waste Systems, Inc., Class A\* | 800 | 75904 |
|  Cintas Corp. | 4888 | 1003311 |
|  Copart, Inc.\* | 11720 | 527048 |
|  Driven Brands Holdings, Inc.\* | 2200 | 35442 |
|  GEO Group, Inc. (The)\* | 1800 | 36882 |
|  HNI Corp. | 700 | 32795 |
|  Pitney Bowes, Inc. | 1900 | 21679 |
|  RB Global, Inc. | 200 | 21672 |
|  Rollins, Inc. | 4000 | 234960 |
|  Tetra Tech, Inc. | 1005 | 33547 |

---

See Notes to Portfolio of Investments.

828

------

**EQ ADVISORS TRUST** 

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Veralto Corp. | 1300 | $138593 |
|  Waste Management, Inc. | 5300 | 1170399 |
|  |  | 3422168 |
|  ***Construction & Engineering (0.1%)*** |  |  |
|  Arcosa, Inc. | 200 | 18742 |
|  Argan, Inc. | 200 | 54010 |
|  Centuri Holdings, Inc.\* | 1000 | 21170 |
|  Comfort Systems USA, Inc. | 500 | 412590 |
|  Construction Partners, Inc., Class A\* | 800 | 101600 |
|  Dycom Industries, Inc.\* | 400 | 116704 |
|  EMCOR Group, Inc. | 200 | 129908 |
|  Granite Construction, Inc.(x) | 500 | 54825 |
|  IES Holdings, Inc.(x)\* | 100 | 39765 |
|  MasTec, Inc.\* | 200 | 42562 |
|  MYR Group, Inc.\* | 300 | 62409 |
|  Primoris Services Corp. | 700 | 96131 |
|  Quanta Services, Inc. | 1600 | 663072 |
|  Sterling Infrastructure, Inc.\* | 400 | 135872 |
|  WillScot Holdings Corp. | 1100 | 23221 |
|  |  | 1972581 |
|  ***Electrical Equipment (0.9%)*** |  |  |
|  American Superconductor Corp.\* | 500 | 29695 |
|  Bloom Energy Corp., Class A\* | 3000 | 253710 |
|  EnerSys | 200 | 22592 |
|  Enovix Corp.(x)\* | 2300 | 22931 |
|  Eos Energy Enterprises, Inc.(x)\* | 3600 | 41004 |
|  Fluence Energy, Inc., Class A(x)\* | 2200 | 23760 |
|  GE Vernova, Inc. | 12580 | 7735442 |
|  NEXTracker, Inc., Class A\* | 1500 | 110985 |
|  NuScale Power Corp., Class A(x)\* | 1500 | 54000 |
|  Powell Industries, Inc.(x) | 200 | 60962 |
|  Power Solutions International, Inc.\* | 300 | 29466 |
|  Rockwell Automation, Inc. | 134 | 46837 |
|  Vertiv Holdings Co., Class A | 59390 | 8959575 |
|  Vicor Corp.\* | 400 | 19888 |
|  |  | 17410847 |
|  ***Ground Transportation (0.2%)*** |  |  |
|  Avis Budget Group, Inc.(x)\* | 100 | 16058 |
|  Lyft, Inc., Class A\* | 1400 | 30814 |
|  Old Dominion Freight Line, Inc. | 100 | 14078 |
|  RXO, Inc.\* | 1800 | 27684 |
|  Uber Technologies, Inc.\* | 28700 | 2811739 |
|  U-Haul Holding Co. | 700 | 35630 |
|  Union Pacific Corp. | 700 | 165459 |
|  XPO, Inc.\* | 300 | 38781 |
|  |  | 3140243 |
|  ***Industrial Conglomerates (0.0%)†*** |  |  |
|  3M Co. | 1200 | 186216 |
|  ***Machinery (0.2%)*** |  |  |
|  Alamo Group, Inc. | 100 | 19090 |
|  Albany International Corp., Class A | 500 | 26650 |
|  Atmus Filtration Technologies, Inc. | 1100 | 49599 |
|  Blue Bird Corp.\* | 400 | 23020 |
|  Caterpillar, Inc. | 819 | 390786 |
|  Chart Industries, Inc.\* | 600 | 120090 |
|  Enerpac Tool Group Corp., Class A | 900 | 36900 |
|  Enpro, Inc. | 100 | 22600 |
|  ESCO Technologies, Inc. | 400 | 84444 |
|  Federal Signal Corp. | 800 | 95192 |
|  Franklin Electric Co., Inc. | 600 | 57120 |
|  Illinois Tool Works, Inc. | 1404 | 366107 |
|  Ingersoll Rand, Inc. | 18195 | 1503271 |
|  JBT Marel Corp. | 300 | 42135 |
|  Kadant, Inc. | 200 | 59516 |
|  Mueller Water Products, Inc., Class A | 2100 | 53592 |
|  RBC Bearings, Inc.\* | 100 | 39029 |
|  REV Group, Inc. | 700 | 39669 |
|  SPX Technologies, Inc.\* | 700 | 130746 |
|  Standex International Corp.(x) | 100 | 21190 |
|  Trinity Industries, Inc. | 1100 | 30844 |
|  Watts Water Technologies, Inc., Class A | 400 | 111712 |
|  Worthington Enterprises, Inc. | 300 | 16647 |
|  |  | 3339949 |
|  ***Passenger Airlines (0.0%)†*** |  |  |
|  Alaska Air Group, Inc.\* | 400 | 19912 |
|  American Airlines Group, Inc.\* | 1700 | 19108 |
|  Joby Aviation, Inc.(x)\* | 6100 | 98454 |
|  Southwest Airlines Co. | 700 | 22337 |
|  |  | 159811 |
|  ***Professional Services (0.4%)*** |  |  |
|  Acuren Corp.\* | 1700 | 22627 |
|  Automatic Data Processing, Inc. | 5387 | 1581084 |
|  Booz Allen Hamilton Holding Corp. | 1700 | 169915 |
|  Broadridge Financial Solutions, Inc. | 1500 | 357255 |
|  CBIZ, Inc.\* | 600 | 31776 |
|  CSG Systems International, Inc. | 400 | 25752 |
|  Dayforce, Inc.\* | 33947 | 2338609 |
|  Equifax, Inc. | 9009 | 2311079 |
|  ExlService Holdings, Inc.\* | 2100 | 92463 |
|  Exponent, Inc. | 700 | 48636 |
|  First Advantage Corp.\* | 1200 | 18468 |
|  Huron Consulting Group, Inc.\* | 300 | 44031 |
|  Innodata, Inc.(x)\* | 400 | 30828 |
|  Insperity, Inc. | 500 | 24600 |
|  KBR, Inc. | 700 | 33103 |
|  Korn Ferry | 300 | 20994 |
|  Legalzoom.com, Inc.\* | 2000 | 20760 |
|  Maximus, Inc. | 800 | 73096 |
|  Paychex, Inc. | 1373 | 174041 |
|  Paycom Software, Inc. | 400 | 83256 |
|  Paylocity Holding Corp.\* | 600 | 95562 |
|  Planet Labs PBC(x)\* | 3200 | 41536 |
|  TriNet Group, Inc. | 400 | 26756 |
|  Upwork, Inc.\* | 1700 | 31569 |
|  Verisk Analytics, Inc. | 1168 | 293764 |
|  Verra Mobility Corp., Class A\* | 2200 | 54340 |
|  Willdan Group, Inc.\* | 200 | 19338 |
|  WNS Holdings Ltd.\* | 600 | 45762 |
|  |  | 8111000 |
|  ***Trading Companies & Distributors (0.1%)*** |  |  |
|  Core & Main, Inc., Class A\* | 2100 | 113043 |
|  DXP Enterprises, Inc.\* | 200 | 23814 |
|  Fastenal Co. | 13408 | 657528 |
|  Ferguson Enterprises, Inc. | 200 | 44916 |
|  FTAI Aviation Ltd. | 1500 | 250290 |
|  GATX Corp. | 100 | 17480 |
|  Herc Holdings, Inc. | 451 | 52614 |
|  McGrath RentCorp | 300 | 35190 |
|  Rush Enterprises, Inc., Class A | 400 | 21388 |
|  SiteOne Landscape Supply, Inc.\* | 300 | 38640 |
|  W.W. Grainger, Inc. | 507 | 483151 |
|  Xometry, Inc., Class A(x)\* | 600 | 32682 |
|  |  | 1770736 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 103502748 |
|  **Information Technology (36.1%)** |  |  |
|  ***Communications Equipment (0.5%)*** |  |  |
|  Arista Networks, Inc.\* | 62100 | 9048591 |
|  Calix, Inc.\* | 1100 | 67507 |
|  Ciena Corp.\* | 6200 | 903154 |
|  CommScope Holding Co., Inc.\* | 2700 | 41796 |

---

See Notes to Portfolio of Investments.

829

------

**EQ ADVISORS TRUST** 

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  Extreme Networks, Inc.\* | 1800 | $37170 |
|  Motorola Solutions, Inc. | 1000 | 457290 |
|  Ubiquiti, Inc. | 100 | 66058 |
|  Viavi Solutions, Inc.\* | 2900 | 36801 |
|  |  | 10658367 |
|  ***Electronic Equipment, Instruments & Components (0.6%)*** |  |  |
|  Advanced Energy Industries, Inc. | 600 | 102084 |
|  Aeva Technologies, Inc.\* | 700 | 10150 |
|  Amphenol Corp., Class A | 90586 | 11210018 |
|  Arlo Technologies, Inc.\* | 1300 | 22035 |
|  Badger Meter, Inc. | 400 | 71432 |
|  Belden, Inc. | 500 | 60135 |
|  CDW Corp. | 100 | 15928 |
|  CTS Corp. | 500 | 19970 |
|  Fabrinet\* | 600 | 218772 |
|  Insight Enterprises, Inc.\* | 100 | 11341 |
|  Itron, Inc.\* | 300 | 37368 |
|  Jabil, Inc. | 1000 | 217170 |
|  Knowles Corp.\* | 1200 | 27972 |
|  Mirion Technologies, Inc., Class A(x)\* | 3100 | 72106 |
|  Napco Security Technologies, Inc. | 500 | 21475 |
|  Novanta, Inc.\* | 500 | 50075 |
|  OSI Systems, Inc.\* | 200 | 49848 |
|  Ouster, Inc.\* | 700 | 18935 |
|  PAR Technology Corp.(x)\* | 600 | 23748 |
|  Plexus Corp.\* | 300 | 43407 |
|  Sanmina Corp.\* | 300 | 34533 |
|  |  | 12338502 |
|  ***IT Services (3.3%)*** |  |  |
|  Applied Digital Corp.\* | 2300 | 52762 |
|  Cloudflare, Inc., Class A\* | 95400 | 20471886 |
|  DigitalOcean Holdings, Inc.\* | 1100 | 37576 |
|  Gartner, Inc.\* | 1111 | 292049 |
|  Globant SA\* | 400 | 22952 |
|  GoDaddy, Inc., Class A\* | 1900 | 259977 |
|  Hackett Group, Inc. (The) | 878 | 16691 |
|  Kyndryl Holdings, Inc.\* | 500 | 15015 |
|  MongoDB, Inc.\* | 67358 | 20906576 |
|  Okta, Inc.\* | 1000 | 91700 |
|  Shopify, Inc., Class A\* | 14958 | 2222908 |
|  Snowflake, Inc., Class A\* | 82875 | 18692456 |
|  Twilio, Inc., Class A\* | 300 | 30027 |
|  |  | 63112575 |
|  ***Semiconductors & Semiconductor Equipment (12.9%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 25597 | 4141339 |
|  Ambarella, Inc.\* | 500 | 41260 |
|  Applied Materials, Inc. | 3210 | 657215 |
|  Astera Labs, Inc.\* | 65500 | 12824900 |
|  Axcelis Technologies, Inc.\* | 300 | 29292 |
|  Broadcom, Inc. | 177330 | 58502940 |
|  Credo Technology Group Holding Ltd.\* | 2100 | 305781 |
|  Enphase Energy, Inc.\* | 1800 | 63702 |
|  Entegris, Inc. | 38823 | 3589575 |
|  FormFactor, Inc.\* | 1000 | 36420 |
|  Impinj, Inc.\* | 400 | 72300 |
|  KLA Corp. | 1900 | 2049340 |
|  Lam Research Corp. | 18200 | 2436980 |
|  Lattice Semiconductor Corp.\* | 36063 | 2644139 |
|  MACOM Technology Solutions Holdings, Inc.\* | 200 | 24898 |
|  Marvell Technology, Inc. | 67260 | 5654548 |
|  Monolithic Power Systems, Inc. | 18500 | 17031840 |
|  NVIDIA Corp. | 706608 | 131838921 |
|  Onto Innovation, Inc.\* | 200 | 25844 |
|  Power Integrations, Inc. | 800 | 32168 |
|  QUALCOMM, Inc. | 3565 | 593073 |
|  Rambus, Inc.\* | 1500 | 156300 |
|  Rigetti Computing, Inc.(x)\* | 4500 | 134055 |
|  Semtech Corp.\* | 1200 | 85740 |
|  Silicon Laboratories, Inc.\* | 400 | 52452 |
|  SiTime Corp.\* | 300 | 90393 |
|  Synaptics, Inc.\* | 300 | 20502 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. (ADR) | 15020 | 4194936 |
|  Texas Instruments, Inc. | 5281 | 970278 |
|  |  | 248301131 |
|  ***Software (14.2%)*** |  |  |
|  ACI Worldwide, Inc.\* | 1400 | 73878 |
|  Adeia, Inc. | 1400 | 23520 |
|  Adobe, Inc.\* | 6052 | 2134843 |
|  Agilysys, Inc.\* | 300 | 31575 |
|  Alarm.com Holdings, Inc.\* | 700 | 37156 |
|  Alkami Technology, Inc.\* | 1100 | 27324 |
|  Appfolio, Inc., Class A\* | 8400 | 2315544 |
|  Appian Corp., Class A\* | 700 | 21399 |
|  AppLovin Corp., Class A\* | 36900 | 26514126 |
|  Asana, Inc., Class A(x)\* | 1500 | 20040 |
|  Atlassian Corp., Class A\* | 2300 | 367310 |
|  Autodesk, Inc.\* | 2997 | 952057 |
|  AvePoint, Inc.\* | 2500 | 37525 |
|  Bentley Systems, Inc., Class B | 2100 | 108108 |
|  Bitdeer Technologies Group, Class A\* | 1500 | 25635 |
|  Blackbaud, Inc.\* | 600 | 38586 |
|  BlackLine, Inc.\* | 800 | 42480 |
|  Box, Inc., Class A\* | 1900 | 61313 |
|  Braze, Inc., Class A\* | 1000 | 28440 |
|  C3.ai, Inc., Class A(x)\* | 1739 | 30154 |
|  Cadence Design Systems, Inc.\* | 3905 | 1371670 |
|  Circle Internet Group, Inc., Class A\* | 200 | 26516 |
|  Clear Secure, Inc., Class A | 1400 | 46732 |
|  Clearwater Analytics Holdings, Inc., Class A\* | 3300 | 59466 |
|  Commvault Systems, Inc.\* | 600 | 113268 |
|  Confluent, Inc., Class A\* | 3500 | 69300 |
|  Core Scientific, Inc.\* | 3300 | 59202 |
|  Crowdstrike Holdings, Inc., Class A\* | 41762 | 20479250 |
|  Datadog, Inc., Class A\* | 69800 | 9939520 |
|  Docusign, Inc.\* | 2200 | 158598 |
|  Dropbox, Inc., Class A\* | 700 | 21147 |
|  D-Wave Quantum, Inc.(x)\* | 4300 | 106253 |
|  Dynatrace, Inc.\* | 33035 | 1600546 |
|  Elastic NV\* | 1300 | 109837 |
|  EverCommerce, Inc.(x)\* | 1900 | 21147 |
|  Fair Isaac Corp.\* | 300 | 448959 |
|  Five9, Inc.\* | 1600 | 38720 |
|  Fortinet, Inc.\* | 9092 | 764455 |
|  Freshworks, Inc., Class A\* | 2800 | 32956 |
|  Gen Digital, Inc. | 800 | 22712 |
|  Gitlab, Inc., Class A(x)\* | 1900 | 85652 |
|  Guidewire Software, Inc.\* | 1200 | 275832 |
|  HubSpot, Inc.\* | 6919 | 3236708 |
|  Intapp, Inc.\* | 700 | 28630 |
|  InterDigital, Inc. | 400 | 138092 |
|  Intuit, Inc. | 16590 | 11329477 |
|  Life360, Inc.(x)\* | 300 | 31890 |
|  LiveRamp Holdings, Inc.\* | 900 | 24426 |
|  Manhattan Associates, Inc.\* | 900 | 184482 |
|  Microsoft Corp.# | 220502 | 114209011 |
|  nCino, Inc.\* | 1000 | 27110 |
|  NextNav, Inc.\* | 1300 | 18590 |
|  Nutanix, Inc., Class A\* | 900 | 66951 |

---

See Notes to Portfolio of Investments.

830

------

**EQ ADVISORS TRUST** 

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  OneSpan, Inc. | 1452 | $23072 |
|  Oracle Corp. | 52919 | 14882940 |
|  Pagaya Technologies Ltd., Class A\* | 600 | 17814 |
|  Palantir Technologies, Inc., Class A\* | 101400 | 18497388 |
|  Palo Alto Networks, Inc.\* | 26050 | 5304301 |
|  Pegasystems, Inc. | 400 | 23000 |
|  Porch Group, Inc.\* | 1200 | 20136 |
|  Procore Technologies, Inc.\* | 1600 | 116672 |
|  Progress Software Corp.\* | 700 | 30751 |
|  PTC, Inc.\* | 200 | 40604 |
|  Q2 Holdings, Inc.\* | 800 | 57912 |
|  Qualys, Inc.\* | 500 | 66165 |
|  Rezolve AI plc(x)\* | 3300 | 16434 |
|  RingCentral, Inc., Class A\* | 1100 | 31174 |
|  Rubrik, Inc., Class A\* | 1000 | 82250 |
|  Salesforce, Inc. | 1450 | 343650 |
|  Samsara, Inc., Class A\* | 47500 | 1769375 |
|  Sapiens International Corp. NV | 500 | 21500 |
|  SentinelOne, Inc., Class A\* | 2800 | 49308 |
|  ServiceNow, Inc.\* | 18075 | 16634061 |
|  SoundHound AI, Inc., Class A(x)\* | 4600 | 73968 |
|  SPS Commerce, Inc.\* | 500 | 52070 |
|  Strategy, Inc.\* | 250 | 80553 |
|  Synopsys, Inc.\* | 9760 | 4815486 |
|  Tenable Holdings, Inc.\* | 1600 | 46656 |
|  Teradata Corp.\* | 1000 | 21510 |
|  Terawulf, Inc.\* | 3900 | 44538 |
|  Tyler Technologies, Inc.\* | 546 | 285645 |
|  Unity Software, Inc.\* | 622 | 24905 |
|  Varonis Systems, Inc.\* | 1500 | 86205 |
|  Vertex, Inc., Class A(x)\* | 1000 | 24790 |
|  Workday, Inc., Class A\* | 3048 | 733745 |
|  Workiva, Inc., Class A\* | 700 | 60256 |
|  Zeta Global Holdings Corp., Class A\* | 2400 | 47688 |
|  Zscaler, Inc.\* | 38000 | 11387080 |
|  |  | 273851720 |
|  ***Technology Hardware, Storage & Peripherals (4.6%)*** |  |  |
|  Apple, Inc.# | 346438 | 88213508 |
|  CompoSecure, Inc., Class A\* | 1100 | 22902 |
|  Dell Technologies, Inc., Class C | 600 | 85062 |
|  Diebold Nixdorf, Inc.\* | 400 | 22812 |
|  IonQ, Inc.(x)\* | 3900 | 239850 |
|  NetApp, Inc. | 1100 | 130306 |
|  Pure Storage, Inc., Class A\* | 3900 | 326859 |
|  Quantum Computing, Inc.(x)\* | 1500 | 27615 |
|  Super Micro Computer, Inc.(x)\* | 3200 | 153408 |
|  |  | 89222322 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 697484617 |
|  **Materials (0.1%)** |  |  |
|  ***Chemicals (0.1%)*** |  |  |
|  Balchem Corp. | 400 | 60024 |
|  Cabot Corp. | 700 | 53235 |
|  Chemours Co. (The) | 2000 | 31680 |
|  Ecolab, Inc. | 940 | 257428 |
|  Hawkins, Inc. | 300 | 54816 |
|  Ingevity Corp.\* | 500 | 27595 |
|  Innospec, Inc. | 300 | 23148 |
|  PureCycle Technologies, Inc.(x)\* | 1700 | 22355 |
|  Sensient Technologies Corp. | 500 | 46925 |
|  Sherwin-Williams Co. (The) | 3018 | 1045013 |
|  |  | 1622219 |
|  ***Construction Materials (0.0%)†*** |  |  |
|  Eagle Materials, Inc. | 100 | 23304 |
|  James Hardie Industries plc (ADR)(x)\* | 1447 | 27797 |
|  Knife River Corp.\* | 800 | 61496 |
|  |  | 112597 |
|  ***Metals & Mining (0.0%)†*** |  |  |
|  Alpha Metallurgical Resources, Inc.\* | 200 | 32818 |
|  Anglogold Ashanti plc | 800 | 56264 |
|  Carpenter Technology Corp. | 100 | 24554 |
|  Century Aluminum Co.\* | 1000 | 29360 |
|  Coeur Mining, Inc.\* | 4200 | 78792 |
|  Constellium SE\* | 1500 | 22320 |
|  Hecla Mining Co.(x) | 3500 | 42350 |
|  Materion Corp. | 200 | 24162 |
|  Novagold Resources, Inc.\* | 3900 | 34320 |
|  Perpetua Resources Corp.\* | 1300 | 26299 |
|  Steel Dynamics, Inc. | 200 | 27886 |
|  |  | 399125 |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Sylvamo Corp. | 100 | 4422 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 2138363 |
|  **Real Estate (0.1%)** |  |  |
|  ***Health Care REITs (0.0%)†*** |  |  |
|  American Healthcare REIT, Inc. (REIT) | 700 | 29407 |
|  CareTrust REIT, Inc. (REIT) | 700 | 24276 |
|  |  | 53683 |
|  ***Hotel & Resort REITs (0.0%)†*** |  |  |
|  DiamondRock Hospitality Co. (REIT) | 2700 | 21492 |
|  Ryman Hospitality Properties, Inc. (REIT) | 800 | 71672 |
|  |  | 93164 |
|  ***Real Estate Management & Development (0.0%)†*** |  |  |
|  CBRE Group, Inc., Class A\* | 500 | 78780 |
|  Compass, Inc., Class A\* | 5900 | 47377 |
|  CoStar Group, Inc.\* | 700 | 59059 |
|  eXp World Holdings, Inc.(x) | 2100 | 22386 |
|  Jones Lang LaSalle, Inc.\* | 200 | 59656 |
|  St Joe Co. (The) | 500 | 24740 |
|  |  | 291998 |
|  ***Residential REITs (0.0%)†*** |  |  |
|  Sun Communities, Inc. (REIT) | 300 | 38700 |
|  UDR, Inc. (REIT) | 500 | 18630 |
|  UMH Properties, Inc. (REIT) | 1200 | 17820 |
|  |  | 75150 |
|  ***Retail REITs (0.0%)†*** |  |  |
|  Phillips Edison & Co., Inc. (REIT) | 1100 | 37763 |
|  Simon Property Group, Inc. (REIT) | 1062 | 199306 |
|  Tanger, Inc. (REIT) | 1100 | 37224 |
|  |  | 274293 |
|  ***Specialized REITs (0.1%)*** |  |  |
|  American Tower Corp. (REIT) | 6667 | 1282197 |
|  Lamar Advertising Co. (REIT), Class A | 1200 | 146904 |
|  Outfront Media, Inc. (REIT) | 1800 | 32976 |
|  Public Storage (REIT) | 300 | 86655 |
|  |  | 1548732 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 2337020 |
|  **Utilities (0.1%)** |  |  |
|  ***Electric Utilities (0.0%)†*** |  |  |
|  MGE Energy, Inc. | 400 | 33672 |
|  NRG Energy, Inc. | 2700 | 437265 |
|  Oklo, Inc., Class A(x)\* | 300 | 33489 |
|  |  | 504426 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  Hallador Energy Co.(x)\* | 1200 | 23484 |

---

See Notes to Portfolio of Investments.

831

------

**EQ ADVISORS TRUST** 

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Vistra Corp. | 4800 | $940416 |
|  |  | 963900 |
|  ***Water Utilities (0.0%)†*** |  |  |
|  American States Water Co. | 300 | 21996 |
|  Middlesex Water Co. | 400 | 21648 |
|  |  | 43644 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 1511970 |
|  **Total Common Stocks (72.8%)**<br> *(Cost $594,453,471)* |  | 1404339470 |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (7.2%)** |  |  |
|  iShares Russell 1000 Growth ETF(x) | 74458 | 34876872 |
|  Vanguard Growth ETF | 145533 | 69799082 |
|  Vanguard Russell 1000 Growth ETF | 289649 | 34902704 |
|  **Total Exchange Traded Funds (7.2%)**<br> (*Cost $75,132,050)* |  | 139578658 |
|  | **Number of<br>Rights** | **Value**<br>**(Note 1)** |
|  RIGHTS: |  |  |
|  **Health Care (0.0%)** |  |  |
|  ***Life Sciences Tools & Services (0.0%)*** |  |  |
|  OmniAb, Inc., expiring 11/1/27(r)(x)\* | 690 |  |
|  **Total Rights (0.0%)**<br> (*Cost $—*) |  |  |
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (19.4%)** |  |  |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 14367452 | 14367452 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 360258587 | 360402690 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 374770142 |
|  **Total Short-Term Investments (19.4%)**<br> *(Cost $374,728,495)* |  | 374770142 |
|  **Total Investments in Securities (99.4%)**<br> *(Cost $1,044,314,016)* |  | 1918688270 |
|  **Other Assets Less Liabilities (0.6%)** |  | 11929801 |
|  **Net Assets (100%)** |  | $1930618071 |

---

*\** *Non-income producing.* 

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

*#* *All, or a portion of security held by broker as collateral for financial futures contracts, with a total collateral value of $49,890,240.* 

*(r)* *Fair value determined using significant unobservable inputs.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $23,666,485. This was collateralized by $9,600,354 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.125%, maturing 10/9/25 – 5/15/55 and by cash of $14,369,664 of which $14,367,452 was subsequently invested in investment companies.* 

See Notes to Portfolio of Investments.

832

------

**EQ ADVISORS TRUST** 

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

*Glossary:* 

*ADR — American Depositary Receipt* 

*REIT — Real Estate Investment Trust* 

*USD — United States Dollar* 

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  Russell 1000 Growth E-Mini |  |  |  |  |  |
|  Index | 1469 | 12/2025 | USD | 349644035 | 2745899 |
|  Russell 2000 E-Mini Index | 175 | 12/2025 | USD | 21485625 | 55866 |
|  |  |  |  |  | 2801765 |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1**<br>**Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs**<br>**(including quoted prices**<br>**for similar securities,**<br>**interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3**<br>**Significant Unobservable**<br>**Inputs (including the**<br>**Portfolio's own**<br>**assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $170684121 | $— | $— | $170684121 |
|  Consumer Discretionary | 161665872 |  |  | 161665872 |
|  Consumer Staples | 28715293 |  |  | 28715293 |
|  Energy | 1896715 |  |  | 1896715 |
|  Financials | 114564809 |  |  | 114564809 |
|  Health Care | 119837942 |  |  | 119837942 |
|  Industrials | 103502748 |  |  | 103502748 |
|  Information Technology | 697484617 |  |  | 697484617 |
|  Materials | 2138363 |  |  | 2138363 |
|  Real Estate | 2337020 |  |  | 2337020 |
|  Utilities | 1511970 |  |  | 1511970 |
|  **Exchange Traded Funds** | 139578658 |  |  | 139578658 |
|  **Futures** | 2801765 |  |  | 2801765 |
|  **Rights** |  |  |  |  |
|  Health Care |  |  | — (a) | — (a) |
|  **Short-Term Investments** |  |  |  |  |
| Investment Companies | 374770142 |  |  | 374770142 |
|  **Total Assets** | $**1921490035** | $**—** | $**—** | $**1921490035** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**1921490035** | $**—** | $**—** | $**1921490035** |

---

(a) Value is zero.

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $890984802 |
|  Aggregate gross unrealized depreciation | (11755269) |
|  Net unrealized appreciation | $879229533 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $1042260502 |

---

See Notes to Portfolio of Investments.

833

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  LONG-TERM DEBT SECURITIES: |  |  |
|  **Asset-Backed Securities (10.0%)** |  |  |
|  37 Capital CLO II, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.608%, 7/15/34(l)§ | $600000 | $600595 |
|  AASET Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.522%, 2/16/50§ | 245492 | 248051 |
|  AASET Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.351%, 1/16/40§ | 186230 | 183240 |
|  ACE Securities Corp. Home Equity Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-HE1 A2C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.612%, 1/25/37(l) | 1071171 | 647912 |
|  ACREC LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-FL2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.380%, 2/19/38(l)§ | 41767 | 41875 |
|  ACRES LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-FL3 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.755%, 8/18/40(l)§ | 270000 | 270659 |
|  Aligned Data Centers Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.937%, 8/15/46§ | 750000 | 732079 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.482%, 8/15/46§ | 500000 | 487270 |
|  American Airlines Pass- Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-2 AA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 9/22/27 | 54991 | 53797 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/15/32 | 350784 | 319839 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 7/11/34 | 671304 | 606154 |
|  American Credit Acceptance Receivables Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.910%, 8/12/31§ | 350000 | 351732 |
|  AMSR Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR1 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.290%, 7/17/41(e)§ | 1145000 | 1130717 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR1 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.290%, 7/17/41(e)§ | 1026000 | 998715 |
|  Arbor Realty Commercial Real Estate Notes LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-FL1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.489%, 1/20/43(l)§ | 410000 | 410384 |
|  Arbor Realty Commercial Real Estate Notes Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL4 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.615%, 11/15/36(l)§ | 122787 | 122786 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FL1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.822%, 1/15/37(l)§ | 118720 | 118720 |
|  Arbour CLO VI DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 6A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.186%, 11/15/37(l)§ | 600000 | 704524 |
|  Ares Loan Funding IV Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-ALF4A D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.998%, 10/15/36(l)§ | $250000 | 251195 |
|  Atlas Senior Loan Fund XV Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-15A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.539%, 10/23/32(l)§ | $453934 | 454388 |
|  Atlas Senior Loan Fund XVIII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-18A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.439%, 1/18/35(l)§ | 500000 | 501005 |
|  Aurium CLO VIII DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 8A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.866%, 6/23/34(l)§ | 500000 | 587025 |
|  Bain Capital Credit CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2A ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.565%, 7/19/34(l)§ | $600000 | 600595 |
|  BBAM US CLO I Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.518%, 3/30/38(l)§ | 250000 | 249993 |
|  Bbam US CLO V Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.599%, 7/25/38(l)§ | 250000 | 250995 |
|  BDS LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-FL13 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.710%, 9/19/39(l)§ | 250000 | 251250 |
|  Birch Grove CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 19A A1RR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.912%, 7/17/37(l)§ | 600000 | 602642 |
|  Blackbird Capital II Aircraft Lease Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.446%, 7/15/46§ | 490074 | 467185 |
|  BlueMountain CLO XXII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-22A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.659%, 7/15/31(l)§ | 93450 | 93480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-22A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.079%, 7/15/31(l)§ | 250000 | 250176 |
|  BNPP AM Euro CLO DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.626%, 4/15/31(l)§ | 249535 | 291331 |
|  Bridge Street CLO I Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 7/20/37(l)§ | $1000000 | 1003892 |
|  Bridge Street CLO IV Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.925%, 4/20/37(l)§ | 500000 | 501210 |
|  Bryant Park Funding Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-24A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.718%, 10/15/37(l)§ | 250000 | 250518 |
|  BSPRT Issuer Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FL8 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.872%, 2/15/37(l)§ | 91051 | 91051 |
|  BXMT Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-FL5 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.775%, 10/18/42(l)§ | 100000 | 100368 |
|  Canyon Capital CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A B1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.329%, 4/15/34(l)§ | 250000 | 250212 |
|  Carlyle Global Market Strategies CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-2RA A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.523%, 5/15/31(l)§ | 18759 | 18764 |
|  Carlyle US CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-2A AR2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.815%, 7/20/37(l)§ | 500000 | 501934 |
|  CarVal CLO IX-C Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.425%, 4/20/37(l)§ | 1000000 | 1003455 |

---

See Notes to Portfolio of Investments.

834

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  CIFC Funding 2019-V Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-5A BR2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.739%, 10/15/38(l)§ | $250000 | $251025 |
|  CIFC Funding 2021-IV Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.679%, 7/23/37(l)§ | 250000 | 250625 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4A BR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.969%, 7/23/37(l)§ | 250000 | 250850 |
|  Compass Datacenters Issuer III LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.835%, 2/25/50§ | 250000 | 254622 |
|  CSAB Mortgage-Backed Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 1A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.898%, 5/25/37(l) | 4606430 | 1048132 |
|  CVC Cordatus Loan Fund XXI DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 21A A1E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.989%, 9/22/34(l)§ | 500000 | 585906 |
|  DataBank Issuer, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.060%, 2/27/51§ | $900000 | 888124 |
|  Delta Air Lines Pass- Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1 AA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 6/10/28 | 35052 | 33669 |
|  Domino's Pizza Master Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.668%, 10/25/49§ | 480000 | 458650 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.217%, 7/25/55§ | 225000 | 226403 |
|  Dryden 41 Senior Loan Fund, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-41A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.549%, 4/15/31(l)§ | 55716 | 55753 |
|  Dryden 76 CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-76A A1R2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.688%, 10/15/37(l)§ | 380000 | 381512 |
|  Empower CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.715%, 10/20/37(l)§ | 500000 | 501963 |
|  Flatiron CLO 25 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.672%, 10/17/37(l)§ | 250000 | 250900 |
|  FS Rialto, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.481%, 5/16/38(l)§ | 165552 | 165542 |
|  Generate CLO 2 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2A AR2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.729%, 10/22/37(l)§ | 250000 | 250877 |
|  GoodLeap Sustainable Home Solutions Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3CS A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 5/20/48§ | 506108 | 387715 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-5CS B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.560%, 10/20/48§ | 337860 | 252494 |
|  GreenSky Home Improvement Issuer Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.120%, 3/25/60§ | 254205 | 255066 |
|  Greystone Commercial Real Estate Notes Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL3 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.285%, 7/15/39(l)§ | 19742 | 19732 |
|  Greywolf CLO III Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-3RA A1R2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.562%, 4/22/33(l)§ | 585131 | 585570 |
|  GSAA Home Equity Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-5 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.412%, 3/25/36(l) | 9675 | 3087 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-10 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 11/25/37 | 2021246 | 767434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-8 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.972%, 8/25/37(l) | 14893 | 14755 |
|  Harvest CLO XXV DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 25A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.974%, 10/21/34(l)§ | 500000 | 585615 |
|  Hertz Vehicle Financing III LP, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.520%, 12/27/27§ | $375000 | 364898 |
|  Home Partners of America Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.477%, 9/17/41§ | 548578 | 498844 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.325%, 9/17/41§ | 467735 | 428003 |
|  Horizon Aircraft Finance IV Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 9/15/49§ | 332500 | 335726 |
|  HSI Asset Securitization Corp. Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HE1 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.552%, 10/25/36(l) | 6939361 | 1991365 |
|  Huntington Bank Auto Credit-Linked Notes, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2 B2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.589%, 9/20/33(l)§ | 242301 | 242300 |
|  Hyundai Auto Lease Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.020%, 3/15/27§ | 463472 | 464910 |
|  ICG US CLO I Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.709%, 7/18/38(l)§ | 500000 | 502045 |
|  Invesco Euro CLO VI DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 6A D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.076%, 7/15/34(l)§ | 250000 | 286212 |
|  Jamestown CLO XVIII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-18A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.588%, 7/25/35(l)§ | $600000 | 599566 |
|  JP Morgan Mortgage Acquisition Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-RM1 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.752%, 8/25/36(l) | 3871294 | 1760242 |
|  KKR CLO 33 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 33A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.757%, 7/20/34(l)§ | 600000 | 601090 |
|  KREF Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.327%, 2/15/39(l)§ | 146310 | 146211 |

---

See Notes to Portfolio of Investments.

835

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Labrador Aviation Finance Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-1A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 1/15/42§ | $773367 | $754002 |
|  LCM 31 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 31A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.605%, 7/20/34(l)§ | 600000 | 599980 |
|  Lendmark Funding Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 11/20/31§ | 700000 | 677622 |
|  LFT CRE Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL1 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.015%, 6/15/39(l)§ | 250000 | 248747 |
|  Lmrk Issuer Co. LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.520%, 9/15/55§ | 400000 | 401616 |
|  LoanCore Issuer Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-CRE7 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.931%, 1/17/37(l)§ | 62395 | 62482 |
|  Long Beach Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-9 2A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.492%, 10/25/36(l) | 2502494 | 784798 |
|  Madison Park Funding LXXI Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-71A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.409%, 4/23/38(l)§ | 350000 | 349662 |
|  Madison Park Funding XLVI Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-46A ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.318%, 10/15/34(l)§ | 600000 | 600480 |
|  Madison Park Funding XXXIII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-33A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.608%, 10/15/32(l)§ | 248386 | 248576 |
|  Magnetite XL Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-40A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.768%, 7/15/37(l)§ | 500000 | 502179 |
|  Marble Point CLO XVII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.765%, 7/20/37(l)§ | 500000 | 502116 |
|  Marble Point CLO XXV Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2A BR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.175%, 10/20/36(l)§ | 500000 | 501046 |
|  Mariner Finance Issuance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-AA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.860%, 3/20/36§ | 700000 | 685843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-AA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.130%, 9/22/36§ | 100000 | 101092 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-BA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.910%, 11/20/38§ | 250000 | 253798 |
|  Merrill Lynch Mortgage Investors Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-HE4 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.592%, 7/25/37(l) | 2423468 | 1410684 |
|  MF1 LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FL9 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.284%, 6/19/37(l)§ | 85819 | 85893 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-FL17 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.456%, 2/18/40(l)§ | 280000 | 280514 |
|  MF1 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL7 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.330%, 10/16/36(l)§ | 67011 | 66969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FL8 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.484%, 2/19/37(l)§ | 64689 | 64690 |
|  MF1 Multifamily Housing Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-FL15 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.824%, 8/18/41(l)§ | 250000 | 250780 |
|  Milford Park CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.485%, 1/20/38(l)§ | 380000 | 379816 |
|  Morgan Stanley IXIS Real Estate Capital Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-1 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.572%, 7/25/36(l) | 3241707 | 1227953 |
|  Mosaic Solar Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.640%, 1/20/53§ | 458373 | 391927 |
|  Navesink CLO 2 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.588%, 4/15/36(l)§ | 500000 | 499112 |
|  Navient Private Education Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-BA A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.715%, 7/16/40(l)§ | 205402 | 205748 |
|  Navient Private Education Refi Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-DA A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/15/59§ | 20666 | 20499 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-CA A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.130%, 2/15/68§ | 25175 | 24881 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-FA A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 8/15/68§ | 60879 | 58912 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.660%, 10/15/72§ | 73444 | 75442 |
|  Navient Refinance Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.720%, 9/15/55§ | 100000 | 99879 |
|  Nelnet Student Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-AA A1B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.472%, 3/15/57(l)§ | 95036 | 94786 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-BA A1B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.693%, 5/17/55(l)§ | 150000 | 150889 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CA A1B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.706%, 6/22/65(l)§ | 147000 | 146999 |
|  Nomura Home Equity Loan, Inc. Home Equity Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 2A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.592%, 2/25/37(l) | 873177 | 797340 |
|  NRZ Excess Spread-Collateralized Notes, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-PLS1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.844%, 12/25/25§ | 279525 | 278321 |
|  OCP CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-13A AR2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.665%, 11/26/37(l)§ | 500000 | 501640 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-40A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.457%, 4/16/38(l)§ | 330000 | 330231 |
|  Octagon Investment Partners 18-R Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-18A A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.539%, 4/16/31(l)§ | 50304 | 50309 |
|  OHA Loan Funding Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-1A A1R2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.785%, 7/20/37(l)§ | 250000 | 251157 |

---

See Notes to Portfolio of Investments.

836

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  OneMain Financial Issuance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 9/14/35§ | $158072 | $155393 |
|  OZLM XVII Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-17A A1RR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.475%, 7/20/30(l)§ | 36770 | 36769 |
|  Palmer Square CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.589%, 10/15/38(l)§ | 250000 | 250956 |
|  Park Blue CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-9A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.431%, 10/20/38(l)§ | 510000 | 511913 |
|  Pret LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-NPL6 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.926%, 10/25/54(e)§ | 679755 | 679882 |
|  Progress Residential Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR5 F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.158%, 7/17/38§ | 2000000 | 1966901 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR4 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 8/17/42§ | 1000000 | 988538 |
|  Providus CLO II DAC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2A ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.186%, 10/15/38(l)§ | 500000 | 587346 |
|  QTS Issuer ABS II LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.044%, 10/5/55§ | $74000 | 73794 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.778%, 10/5/55§ | 500000 | 500555 |
|  RASC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-EMX1 A13 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.672%, 1/25/37(l) | 272502 | 299778 |
|  Ready Capital Mortgage Financing LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL7 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.472%, 11/25/36(l)§ | 133812 | 133802 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-FL11 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.532%, 10/25/39(l)§ | 373 | 374 |
|  Recette CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-1A ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.667%, 4/20/34(l)§ | 600000 | 600750 |
|  Regatta XI Funding Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A BR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.072%, 7/17/37(l)§ | 360000 | 361534 |
|  Regatta XVIII Funding Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.478%, 4/15/38(l)§ | 380000 | 380295 |
|  Regional Management Issuance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.070%, 3/15/32§ | 95969 | 95632 |
|  Republic Finance Issuance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.590%, 11/20/34§ | 196000 | 195956 |
|  Retained Vantage Data Centers Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.091%, 8/15/50§ | 73000 | 73229 |
|  Romark WM-R Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.617%, 4/20/31(l)§ | 98888 | 98907 |
|  Scalelogix Abs Us Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.158%, 7/25/55§ | 400000 | 400156 |
|  Scholar Funding Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.104%, 1/30/45(l)§ | 64253 | 63251 |
|  Securitized Asset-Backed Receivables LLC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-FR4 A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.612%, 8/25/36(l) | 2119388 | 673993 |
|  Signal Peak CLO 14 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-14A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.632%, 1/22/38(l)§ | 250000 | 250913 |
|  Silver Point CLO 5 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.725%, 10/20/37(l)§ | 250000 | 250501 |
|  Silver Point CLO 7 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-7A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.678%, 1/15/38(l)§ | 250000 | 250816 |
|  Sixth Street CLO XIV Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-14A A1R2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.475%, 1/20/38(l)§ | 720000 | 719653 |
|  Sixth Street CLO XX Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-20A BR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.913%, 7/17/38(l)§ | 250000 | 251008 |
|  SLM Private Education Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2010-C A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.015%, 10/15/41(l)§ | 134596 | 141065 |
|  SMB Private Education Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-B B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/17/40§ | 16363 | 16334 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-PTA A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.600%, 9/15/54§ | 81950 | 77057 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-A C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.990%, 1/15/53§ | 135805 | 119436 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-A D1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.860%, 1/15/53§ | 33876 | 30818 |
|  SoFi Consumer Loan Program Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.420%, 2/27/34§ | 375000 | 380563 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.470%, 8/15/34§ | 225000 | 225586 |
|  SoFi Professional Loan Program LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-F BFX |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.620%, 1/25/41§ | 1000000 | 947659 |
|  Sound Point CLO XXI Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-3A A1AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.614%, 10/26/31(l)§ | 277399 | 277444 |
|  Sound Point CLO XXIX Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 4/25/34(l)§ | 500000 | 500332 |
|  Sounds Point CLO IV-R Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-3RA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.741%, 4/18/31(l)§ | 218545 | 218370 |
|  Soundview Home Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-1 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.360%, 2/25/37(l) | 4226912 | 813450 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OPT5 2A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.222%, 10/25/37(l) | 2729380 | 2060635 |
|  STAR Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR1 G |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.457%, 4/17/38(l)§ | 2000000 | 1995982 |

---

See Notes to Portfolio of Investments.

837

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  STWD Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FL2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 4/18/38(l)§ | $161216 | $161204 |
|  Subway Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A2II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.268%, 7/30/54§ | 61535 | 63069 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A A23 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.914%, 7/30/54§ | 198500 | 197474 |
|  Sunrun Demeter Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.270%, 1/30/57§ | 563247 | 507172 |
|  Symphony CLO 38 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-38A BR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.269%, 7/24/38(l)§ | 250000 | 251576 |
|  Symphony CLO XV Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-15A AR3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.664%, 1/17/32(l)§ | 131448 | 131568 |
|  Taco Bell Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A23 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.542%, 8/25/51§ | 491250 | 426850 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A A2I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.821%, 8/25/55§ | 73000 | 73379 |
|  TIAA CLO IV Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A A1AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.465%, 1/20/32(l)§ | 307626 | 307735 |
|  TIF Funding II LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 2/20/46§ | 405167 | 368952 |
|  T-Mobile US Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 9/20/29§ | 400000 | 403765 |
|  Tralee CLO VI Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-6A A1RR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.538%, 10/25/32(l)§ | 389729 | 389990 |
|  Tricon Residential Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR1 E1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.794%, 7/17/38§ | 1300000 | 1275509 |
|  Trinitas CLO VI Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-6A ARRR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.648%, 1/25/34(l)§ | 600000 | 599820 |
|  Trinitas CLO XXX Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-30A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.689%, 10/23/37(l)§ | 400000 | 401182 |
|  TRTX Issuer Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FL5 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.793%, 2/15/39(l)§ | 236257 | 236244 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-FL6 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.673%, 9/18/42(l)§ | 190000 | 190652 |
|  TSTAT Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A A1RR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.475%, 7/20/37(l)§ | 95576 | 95585 |
|  Turkish Airlines Pass- Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 3/15/27§ | 186133 | 181479 |
|  Union Pacific Railroad Co. Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.227%, 5/14/26 | 54079 | 53668 |
|  United Airlines Pass- Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1 AA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 8/25/31 | 317230 | 309052 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2 AA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 5/1/32 | 151378 | 138346 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/15/27 | 346650 | 354479 |
|  United States Small Business Administration, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2008-20G 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.870%, 7/1/28 | 20452 | 20836 |
|  Upstart Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.330%, 11/20/34§ | 148834 | 149282 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.620%, 6/20/35§ | 350000 | 352949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.020%, 9/20/35§ | 350000 | 349351 |
|  UPX HIL Issuer Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.160%, 1/25/47§ | 188483 | 189153 |
|  USQ Rail III LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.990%, 9/28/54§ | 292575 | 292334 |
|  VCAT LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NPL1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.877%, 1/25/55(e)§ | 562963 | 568367 |
|  Verdelite Static CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.455%, 7/20/32(l)§ | 475305 | 475082 |
|  Verizon Master Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/20/28 | 1150000 | 1153416 |
|  Vibrant CLO XR Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-10RA A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.025%, 4/20/36(l)§ | 500000 | 501984 |
|  VOLT C LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NPL9 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.992%, 5/25/51(e)§ | 156479 | 156423 |
|  Voya CLO Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-1A A1AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.789%, 10/15/30(l)§ | 17786 | 17788 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-3A A3R4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.775%, 10/20/31(l)§ | 250000 | 250399 |
|  Warwick Capital CLO 4 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-4A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.725%, 7/20/37(l)§ | 500000 | 501700 |
|  Wellington Management CLO 4 Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.429%, 4/18/38(l)§ | 350000 | 349720 |
|  Whitebox CLO I Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1A BRR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.069%, 7/24/36(l)§ | 250000 | 250183 |
|  Whitebox CLO II Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2A A1R2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.699%, 10/24/37(l)§ | 270000 | 271349 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2A BR2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.069%, 10/24/37(l)§ | 310000 | 311263 |
|  Wireless PropCo Funding LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 6/25/55§ | 209000 | 199556 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Asset- Backed Securities** |  | 80705767 |
|  **Collateralized Mortgage Obligations (9.8%)** |  |  |
|  Alternative Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-J14 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/25/35 | 1969543 | 1171173 |

---

See Notes to Portfolio of Investments.

838

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA22 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.592%, 2/25/47(l) | $20195 | $19888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA6 1A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.692%, 7/25/46(l) | 13269 | 12078 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OH1 A1D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.482%, 4/25/47(l) | 20434 | 18007 |
|  American Home Mortgage Investment Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-3 11A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.632%, 12/25/46(l) | 422366 | 358248 |
|  Angel Oak Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.637%, 2/25/70(e)§ | 208703 | &nbsp;&nbsp;&nbsp;&nbsp;210683 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-8 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.410%, 7/25/70(e)§ | 85720 | 86352 |
|  Barclays Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-NQM1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 7/25/52(e)§ | 113591 | 113070 |
|  Bear Stearns ALT-A Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-4 31A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.477%, 7/25/36(l) | 826389 | 473756 |
|  Bear Stearns ARM Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-8 11A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.341%, 11/25/34(l) | 81058 | 77276 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-1 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.807%, 3/25/35(l) | 67856 | 62320 |
|  Beignet, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.850%, 6/1/49 | 2000000 | 2000000 |
|  BRAVO Residential Funding Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.678%, 11/25/64(e)§ | 251515 | 253971 |
|  Chase Home Lending Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-RPL2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 3/25/63(l)§ | 433276 | 393182 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-7 A11 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.656%, 6/25/55(l)§ | 417902 | 417909 |
|  Chase Mortgage Finance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-S3 1A12 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5/25/37 | 1535871 | 636886 |
|  CHL Mortgage Pass-Through Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-17 1A6 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/25/35 | 205408 | 205867 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-24 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/25/35 | 269128 | 136388 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-9 A10 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5/25/36 | 2617826 | 1162454 |
|  CIM Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-I1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.655%, 10/25/69(e)§ | 168036 | 169747 |
|  Citigroup Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1 A11 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.706%, 7/25/54(l)§ | 342114 | 343628 |
|  COLT Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/25/65(l)§ | 100000 | 100025 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-3 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.380%, 4/27/65(l)§ | 2030 | 2007 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-5 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.726%, 11/26/66(l)§ | 54370 | 49091 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-7 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.470%, 6/25/70(e)§ | 165285 | 166672 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-8 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.480%, 8/25/70(e)§ | 394416 | 397770 |
|  Cross Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-H1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.735%, 2/25/70(l)§ | 256161 | 258813 |
|  Deutsche Alt-A Securities Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-AR3 2A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.672%, 6/25/37(l) | 441884 | 390348 |
|  Ellington Financial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.626%, 3/25/70(e)§ | 276904 | 278927 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.387%, 5/26/70(e)§ | 327243 | 328977 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.444%, 7/25/70(e)§ | 166422 | 167480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.494%, 8/25/70(e)§ | 197648 | 199320 |
|  Eurohome UK Mortgages plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.244%, 6/15/44(l)(m) | 33615 | 45029 |
|  EuroMASTR plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1V A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.294%, 6/15/40(l)(m) | 91243 | 120243 |
|  Eurosail-UK plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-4X A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.044%, 6/13/45(l)(m) | 144640 | 194152 |
|  FHLMC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2708 ZD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/15/33 | $401040 | 417670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 375 C1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 1/25/51 IO | 4470893 | 692225 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4438 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/15/43 | 91435 | 89324 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4790 F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.677%, 10/15/43(l) | 188516 | 184685 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4989 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 8/15/40(l) | 125099 | 123435 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 4989 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 10/15/40(l) | 86386 | 85178 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5004 LS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.679%, 7/25/50 IO(l) | 2718914 | 371897 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5025 GB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/25/50 | 6499000 | 4260384 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5028 TZ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/25/50 | 6698392 | 3681644 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 5468 QF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.656%, 5/25/54(l) | 595455 | 595380 |
|  First Horizon Alternative Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-FA3 A8 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/25/37 | 639760 | 193941 |
|  FNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2011-86 NF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.021%, 9/25/41(l) | 53672 | 53504 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-11 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/25/34 | 156282 | 154107 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-77 S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.861%, 11/25/50 IO(l) | 6397614 | 302371 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-67 IG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/25/51 IO | 1607270 | 267897 |

---

See Notes to Portfolio of Investments.

839

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-95 LZ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 1/25/52 | $5588935 | $3763366 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-32 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 4/25/51 IO | 3047107 | 463169 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 426 C57 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/25/52 IO | 3601266 | 620864 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 437 C8 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 6/25/52 IO | 4041021 | 635266 |
|  GCAT Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-NQM3 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 11/25/59(l)§ | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;471036 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-INV2 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 4/25/52(l)§ | 484723 | 417941 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-NQM4 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.269%, 8/25/67(e)§ | 115492 | 115364 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM4 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.529%, 6/25/70(e)§ | 392894 | 396368 |
|  GNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2012-74 LF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 6/20/42(l) | 446462 | 439799 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-116 LS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 8/20/43 IO(l) | 642312 | 71954 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-26 MS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/20/43 IO(l) | 612888 | 69951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-20 TS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.850%, 2/20/44 IO(l) | 586551 | 62689 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H15 FC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.046%, 6/20/65(l) | 99278 | 99237 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H16 FM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.066%, 7/20/65(l) | 124885 | 124878 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H18 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.066%, 7/20/65(l) | 60770 | 60759 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H19 FK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.066%, 8/20/65(l) | 135924 | 135846 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H20 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.066%, 8/20/65(l) | 76015 | 76017 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H20 FC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.086%, 8/20/65(l) | 334423 | 334469 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H22 FC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.066%, 9/20/65(l) | 199036 | 199037 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-H29 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.166%, 10/20/65(l) | 144 | 144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H11 F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.266%, 5/20/66(l) | 89555 | 89770 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H14 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.266%, 6/20/66(l) | 67436 | 67597 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H15 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.266%, 7/20/66(l) | 64643 | 64800 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-H23 F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.216%, 10/20/66(l) | 71030 | 71151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-129 IW |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 9/20/50 IO | 4399269 | 660717 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-173 MI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/20/50 IO | 4503897 | 651012 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-185 MI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/20/50 IO | 4603080 | 679559 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-16 KI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 1/20/51 IO | 4068762 | 604182 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-160 TI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/20/51 IO | 4309365 | 738099 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-165 ID |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/20/51 IO | 2566709 | 420849 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-223 EZ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/20/51 | 5059027 | 3738736 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-30 KI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/20/51 IO | 3660287 | 599930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-57 IA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/20/50 IO | 3780155 | 534147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-58 IY |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/20/51 IO | 86818 | 14540 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-78 IP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/20/51 IO | 95848 | 16112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-81 IM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/20/51 IO | 3843319 | 733310 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-83 PI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/20/51 IO | 79936 | 13427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-97 LI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/20/50 IO | 143626 | 24269 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-112 AI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/20/50 IO | 3011224 | 475650 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-174 AZ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/20/51 | 5093632 | 4272183 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-218 IB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/20/50 IO | 2702166 | 451818 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-78 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/20/51 IO | 66517 | 11183 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-85 IK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/20/51 IO | 68030 | 11523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-H02 FN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.889%, 1/20/72(l) | 266076 | 262768 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-H22 EF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.139%, 10/20/72(l) | 155480 | 155708 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-H25 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.529%, 11/20/72(l) | 493458 | 501327 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-H26 DF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.409%, 12/20/72(l) | 301561 | 304819 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-19 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/20/51 IO | 4197852 | 606091 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H01 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.189%, 1/20/73(l) | 392224 | 392758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H02 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.289%, 1/20/73(l) | 292677 | 293052 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H02 FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.289%, 1/20/73(l) | 991761 | 993094 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H03 FA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.259%, 2/20/73(l) | 196489 | 197183 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H28 F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.439%, 12/20/73(l) | 392884 | 395534 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-H28 GF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.289%, 12/20/73(l) | 823393 | 826106 |
|  GS Mortgage-Backed Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-NQM1 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/25/62(l)§ | 65674 | 61022 |
|  GSR Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR6 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.191%, 9/25/35(l) | 14266 | 13740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR2 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.292%, 4/25/36(l) | 32116 | 19163 |
|  HarborView Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-10 3A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.887%, 1/19/35(l) | 109415 | 99390 |
|  HOMES Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM1 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.520%, 1/25/70(l)§ | 300000 | 304107 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.425%, 2/25/70(e)§ | 627022 | 630635 |
|  Homeward Opportunities Fund Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.082%, 7/25/67(e)§ | 115966 | 115787 |

---

See Notes to Portfolio of Investments.

840

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Household Capital RMBS, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.740%, 7/21/87(l)(m) | 40000 | $26388 |
|  Impac CMB Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.772%, 5/25/37(l)§ | $21179 | 20635 |
|  IndyMac INDX Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-FLX1 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.812%, 2/25/37(l) | 779168 | 521533 |
|  JP Morgan Alternative Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2008-R2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.194%, 11/25/36(l)§ | 1016918 | 515060 |
|  JP Morgan Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-S3 1A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 1/25/36 | 661580 | &nbsp;&nbsp;&nbsp;&nbsp;278005 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A3 6A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.960%, 8/25/34(l) | 5763 | 5714 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-A1 3A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.204%, 7/25/35(l) | 12047 | 11592 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-7 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/25/51(l)§ | 499735 | 415751 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-INV5 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/25/51(l)§ | 1019572 | 850162 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-INV7 A3A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/25/52(l)§ | 514692 | 464627 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-INV7 A4A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/25/52(l)§ | 257000 | 175772 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-INV7 A5A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/25/52(l)§ | 117105 | 96442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-VIS1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.990%, 7/25/64(l)§ | 398985 | 403018 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.495%, 11/25/65(l)§ | 392623 | 395739 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-VIS1 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.412%, 8/25/55(l)§ | 287000 | 290566 |
|  Lehman Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 1A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 2/25/37 | 639976 | 647692 |
|  Ludgate Funding plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.288%, 1/1/61(l)(m) | 52707 | 69321 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2008-W1X A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.728%, 1/1/61(l)(m) | 113967 | 151913 |
|  MASTR Alternative Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-2 5A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/25/34 | $29764 | 31389 |
|  Merrill Lynch Mortgage Investors Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-A1 3A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.945%, 12/25/32(l) | 2959 | 2904 |
|  Morgan Stanley Residential Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DSC2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.443%, 7/25/70(e)§ | 166848 | 168085 |
|  Mortgage Loan Resecuritization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2009-RS1 A85 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.735%, 4/16/36(l)§ | 110720 | 108736 |
|  MortgageIT Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-4 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.832%, 10/25/35(l) | 37700 | 37689 |
|  New Residential Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-1A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 5/28/52(l)§ | 137994 | 133249 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-RPL1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/25/57(l)§ | 190038 | 184628 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.643%, 1/25/65(e)§ | 181414 | 183520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM4 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 7/25/65(l)§ | 390470 | 393384 |
|  Nomura Asset Acceptance Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.515%, 1/25/36(l) | 2985885 | 841643 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AP1 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.059%, 1/25/36(e) | 2244667 | 631730 |
|  OBX Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.648%, 12/1/64(e)§ | 152252 | 153835 |
|  PRKCM Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-AFC2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.335%, 8/25/57(l)§ | 105667 | 105617 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-AFC3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.584%, 9/25/58(e)§ | 249901 | 252349 |
|  PRPM LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-7 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.870%, 11/25/29(e)§ | 2841476 | 2842390 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.179%, 6/25/30(e)§ | 970657 | 972977 |
|  PRPM Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.802%, 11/25/69(e)§ | 211565 | 213834 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM1 |  |  |
|  M1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.645%, 11/25/69(l)§ | 193000 | 195942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM2 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.688%, 4/25/70(e)§ | 532196 | 537143 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.606%, 5/25/70(e)§ | 160737 | 161936 |
|  RALI Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-QO3 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.692%, 4/25/46(l) | 3614261 | 888039 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-QS6 A29 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/25/37 | 885083 | 741296 |
|  Reperforming Loan REMIC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-R2 1AF1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.612%, 6/25/35(l)§ | 15841 | 15301 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-R1 AF1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.612%, 1/25/36(l)§ | 46687 | 44221 |
|  Residential Asset Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A12 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 11/25/36 | 2895786 | 1021827 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A9CB A7 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 9/25/36 | 3846141 | 1109983 |
|  Resloc UK plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1X A3B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.254%, 12/15/43(l)(m) | 56567 | 74825 |
|  RFMSI Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-S10 1A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/25/36 | $309485 | 251395 |
|  Sequoia Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 10 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.010%, 10/20/27(l) | 214 | 212 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2003-4 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 7/20/33(l) | 2755 | 2749 |

---

See Notes to Portfolio of Investments.

841

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 6 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.888%, 4/19/27(l) | $11178 | $11064 |
|  SG Residential Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2 B1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.038%, 12/25/61(l)§ | 1700000 | 1313311 |
|  Starwood Mortgage Residential Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.878%, 2/25/50(l)§ | 2500000 | 2229227 |
|  Structured Adjustable Rate Mortgage Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004-4 2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.189%, 4/25/34(l) | 59193 | 58977 |
|  Structured Asset Mortgage Investments II Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-AR5 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.748%, 7/19/35(l) | 15191 | 14625 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-AR6 1A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.652%, 7/25/46(l) | 455093 | 364569 |
|  Towd Point Mortgage Funding plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-GR6A A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.925%, 7/20/53(l)§ | 360488 | 485924 |
|  Towd Point Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1 M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 3/25/58(l)§ | $1500000 | 1311854 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 7/25/62(l)§ | 265800 | 255145 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5 A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.562%, 10/25/64(l)§ | 517472 | 521124 |
|  Uropa Securities plc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-1 A3A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.323%, 10/10/40(l)(m) | 182843 | 243906 |
|  UWM Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-INV2 A9 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/25/51(l)§ | $607348 | 564151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-INV3 A9 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/25/51(l)§ | 538164 | 502707 |
|  Verus Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-6 B1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.047%, 10/25/66(l)§ | 1000000 | 769284 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-8 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.824%, 11/25/66(l)§ | 56571 | 52370 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 12/25/67(e)§ | 320193 | 319928 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.427%, 6/25/70(e)§ | 96474 | 97218 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-6 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.417%, 7/25/70(e)§ | 211971 | 213646 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** |  | 79142169 |
|  **Commercial Mortgage-Backed Securities (6.3%)** |  |  |
|  1211 Avenue of the Americas Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-1211 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.280%, 8/10/35(l)§ | 100000 | 93507 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-1211 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.280%, 8/10/35(l)§ | 100000 | 90816 |
|  1345 Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-AOA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 6/15/42(l)§ | 28000 | 28152 |
|  20 Times Square Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-20TS B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.203%, 5/15/35(l)§ | $200000 | 188058 |
|  245 Park Avenue Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-245P XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.271%, 6/5/37 IO(l)§ | 1000000 | 2606 |
|  280 Park Avenue Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-280P A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.330%, 9/15/34(l)§ | 190000 | 188575 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-280P D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.054%, 9/15/34(l)§ | 200000 | 196375 |
|  Alen Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ACEN A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.415%, 4/15/34(l)§ | 13000 | 12594 |
|  Arbor Multifamily Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-MF1 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 5/15/53§ | 100000 | 83654 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-MF1 E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 5/15/53§ | 100000 | 80879 |
|  AREIT Ltd., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CRE9 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.837%, 5/17/41(l)§ | 245093 | &nbsp;&nbsp;&nbsp;&nbsp;245200 |
|  ARES Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-IND A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.842%, 7/15/41(l)§ | 104000 | 104260 |
|  Ashford Hospitality Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-ASHF D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.423%, 4/15/35(l)§ | 16000 | 15900 |
|  Atrium Hotel Portfolio Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-ATRM D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.398%, 12/15/36(l)§ | 190000 | 180499 |
|  BAMLL Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-JACX A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.315%, 9/15/38(l)§ | 800000 | 767997 |
|  BAMLL Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-BHP A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 8/15/39(l)§ | 130000 | 130528 |
|  BANK, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-BNK6 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.905%, 7/15/60 IO(l) | 2638089 | 26151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-BN10 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.828%, 2/15/61 IO(l) | 3430300 | 48431 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN19 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.446%, 8/15/61 | 249000 | 226804 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN20 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.243%, 9/15/62(l) | 310000 | 284400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN20 XB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.458%, 9/15/62 IO(l) | 530000 | 6804 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-BN25 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.841%, 1/15/63 | 22000 | 20070 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-BN30 XB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.825%, 12/15/53 IO(l) | 5331000 | 166351 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BN33 XB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.594%, 5/15/64 IO(l) | 4550000 | 113903 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BN35 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.902%, 6/15/64(l) | 19000 | 15539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-BNK40 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.504%, 3/15/64(l) | 600000 | 557365 |

---

See Notes to Portfolio of Investments.

842

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Bank of America Merrill Lynch Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-UB10 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.979%, 7/15/49(l) | $250000 | $244312 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-BNK3 XB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.726%, 2/15/50 IO(l) | 1000000 | 6391 |
|  BANK5, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5YR10 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.140%, 10/15/57(l) | 284000 | 292905 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5YR8 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.126%, 8/15/57 IO(l) | 6240974 | 184595 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5YR15 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.762%, 7/15/58 | 180000 | 186363 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5YR16 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.751%, 8/15/63(l) | 393000 | 404395 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5YR17 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.626%, 11/15/58(l) | 296000 | 304360 |
|  BBCCRE Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-GTP A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.966%, 8/10/33§ | 900000 | 832821 |
|  BBCMS Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C1 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.089%, 2/15/50 | 100000 | 95688 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-TALL A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.070%, 3/15/37(l)§ | 45000 | 42525 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-C7 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.444%, 4/15/53 | 186000 | 161171 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C9 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.694%, 2/15/54 IO(l) | 2599851 | 161341 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5C29 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.208%, 9/15/57 | 240000 | 246258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C36 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.517%, 8/15/58 | 268000 | 279433 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C36 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.835%, 8/15/58(l) | 256000 | 265817 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C37 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.382%, 9/15/58(l) | 297000 | 303080 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-C35 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.586%, 7/15/58(l) | 100000 | 105074 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-C35 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.843%, 7/15/58(l) | 15000 | 15672 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-C35 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.124%, 7/15/58(l) | 10000 | 10359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-C35 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/15/58§ | 14000 | 10572 |
|  BBCMS Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-SRCH A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.312%, 8/10/35§ | 31169 | 30632 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-SRCH XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 8/10/35 IO(l)§ | 846454 | 9419 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C10 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.329%, 7/15/54 IO(l) | 3310411 | 167940 |
|  Benchmark Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B9 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.016%, 3/15/52 | 700000 | 685302 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-B9 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.172%, 3/15/52 IO(l) | 902610 | 24602 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-B16 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.910%, 2/15/53 IO(l) | 3802263 | 117864 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-B17 XB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.618%, 3/15/53 IO(l) | 1000000 | 19046 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-B21 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.978%, 12/17/53 | 18000 | 15807 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-IG3 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.770%, 9/15/48 IO(l)§ | 5571625 | 66429 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B23 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.362%, 2/15/54 IO(l) | 979371 | 47976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B24 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 3/15/54 IO(l) | 1145682 | 46606 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B25 A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.577%, 4/15/54 | 160000 | 143035 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B27 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.349%, 7/15/54 IO(l) | 3563863 | 171918 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-V10 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.277%, 9/15/57 | 250000 | 256910 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-V8 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.514%, 7/15/57 | 192915 | 196167 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-V9 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.602%, 8/15/57 | 241000 | 250081 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-V15 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.175%, 6/15/58 | 256000 | 268655 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-V16 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.439%, 8/15/58(l) | 180000 | 186780 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-V17 AM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.425%, 9/15/58(l) | 395000 | 403638 |
|  BFLD Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-VICT A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.040%, 7/15/41(l)§ | 36000 | 36112 |
|  BFLD Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-EYP A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.415%, 10/15/35(l)§ | 700000 | 553630 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-EWEST A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 6/15/42(l)§ | 103000 | 103128 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-FPM A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.011%, 10/10/30(l)§ | 200000 | 201316 |
|  BIG Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-BIG A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.492%, 2/15/39(l)§ | 482163 | 477423 |
|  BMO Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-C5 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.943%, 6/15/56 IO(l) | 384058 | 16723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5C7 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.888%, 11/15/57(l) | 443000 | 455958 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C10 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.947%, 5/15/58(l) | 295000 | 306196 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C12 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.557%, 10/15/58 | 297000 | 304620 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C9 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.165%, 4/15/58(l) | 295000 | 308986 |
|  BPR Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-TY A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.315%, 9/15/38(l)§ | 180000 | &nbsp;&nbsp;&nbsp;&nbsp;179889 |
|  BSTN Commercial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-HUB A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.062%, 4/13/41(l)§ | 150000 | 150000 |
|  BWAY Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-1515 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.454%, 3/10/33§ | 96337 | 92386 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-1515 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.446%, 3/10/33§ | 100000 | 92023 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1450 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.515%, 9/15/36(l)§ | 700000 | 684025 |
|  BWAY Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1535 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.519%, 5/5/42(l)§ | 10000 | 10350 |
|  BX Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-VIV3 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.662%, 3/9/44(l)§ | 120000 | 112524 |

---

See Notes to Portfolio of Investments.

843

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-XL2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.953%, 10/15/38(l)§ | $133289 | $133206 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-XL2 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.661%, 10/15/38(l)§ | 182000 | 181773 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-AHP A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.140%, 1/17/39(l)§ | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;599625 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-AIRC A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.841%, 8/15/39(l)§ | 97364 | 97547 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-BRBK A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.027%, 10/15/41(l)§ | 96000 | 96510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-BRBK D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.117%, 10/15/41(l)§ | 109000 | 109135 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-KING A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.691%, 5/15/34(l)§ | 98701 | 98731 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-MDHS A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.791%, 5/15/41(l)§ | 167291 | 167501 |
|  BX Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-OC11 E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.075%, 12/9/41(l)§ | 200000 | 183077 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-VIEW D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.164%, 6/15/36(l)§ | 120000 | 119927 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-FOX2 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.899%, 4/15/39(l)§ | 585787 | 584879 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-VAMF B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.430%, 1/15/39(l)§ | 17000 | 16973 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-DELC A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.840%, 5/15/38(l)§ | 100000 | 100563 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-PALM A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.691%, 6/15/37(l)§ | 90000 | 90141 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-VLT4 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.642%, 6/15/41(l)§ | 200000 | 200063 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-LUNR A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 6/15/40(l)§ | 11467 | 11481 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-VLT6 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.593%, 3/15/42(l)§ | 220000 | 219931 |
|  BXP Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-CC D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.670%, 8/13/37(l)§ | 30000 | 25144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-GM A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.379%, 6/13/39§ | 190000 | 186074 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-GM B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.539%, 6/13/39(l)§ | 140000 | 136670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-GM D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.539%, 6/13/39(l)§ | 80000 | 77713 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-601L D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.868%, 1/15/44(l)§ | 102000 | 81816 |
|  Cassia SRL, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.534%, 5/22/34(l)§ | 235633 | 277477 |
|  CD Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-CD3 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.631%, 2/10/50 | $10000 | 9714 |
|  CENT Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CITY A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.091%, 7/10/40(l)§ | 177000 | 178245 |
|  CFCRE Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C3 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.865%, 1/10/48 | 8843 | 8824 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C4 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.685%, 5/10/58 IO(l) | 370298 | 1313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C4 XB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.871%, 5/10/58 IO(l) | 110000 | 378 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C8 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.199%, 6/15/50(l) | 37000 | 35666 |
|  Citigroup Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-420K D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.422%, 11/10/42(l)§ | 150000 | 133740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-420K X |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.912%, 11/10/42 IO(l)§ | 1000000 | 34746 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-555 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.647%, 12/10/41§ | 140000 | 126551 |
|  COAST Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2HTL A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.741%, 8/15/36(l)§ | 108000 | 108000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2HTL D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.589%, 8/15/36(l)§ | 100000 | 100003 |
|  Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-UBS5 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.514%, 9/10/47(l) | 130000 | 125955 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-CR24 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.364%, 8/10/48(l) | 7612 | 7480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-DC1 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.708%, 2/10/48 IO(l) | 237418 | 253 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-COR1 ASB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.972%, 10/10/49 | 162072 | 161239 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-COR3 XD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 5/10/51 IO(l)§ | 50000 | 1921 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-WCL1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.991%, 6/15/41(l)§ | 90000 | 90177 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-WCL1 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.740%, 6/15/41(l)§ | 27000 | 27076 |
|  CONE Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-DFW1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.792%, 8/15/41(l)§ | 30000 | 29944 |
|  CSAIL Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C1 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.167%, 4/15/50 IO(l) | 234802 | 52 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C4 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.929%, 11/15/48(l) | 70000 | 68006 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C5 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.463%, 11/15/48(l) | 30000 | 29822 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C5 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.740%, 11/15/48(l) | 50000 | 49194 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-CX10 XB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.322%, 11/15/50 IO(l) | 1000000 | 5115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C14 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.040%, 11/15/51(l) | 250000 | 227918 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-CX12 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.880%, 8/15/51(l) | 58000 | 53451 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C16 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.693%, 6/15/52 IO(l) | 949448 | 43197 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C17 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.461%, 9/15/52 IO(l) | 4449892 | 175394 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C17 XB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.674%, 9/15/52 IO(l) | 1000000 | 18125 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C18 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/15/52§ | 170000 | 140445 |
|  CSMC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-TIME A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.646%, 11/13/39§ | 100000 | 94876 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ADV A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.665%, 7/15/38(l)§ | 800000 | 717097 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B33 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.053%, 10/10/43§ | 88364 | 82676 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B33 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.167%, 10/10/43§ | 190000 | 170221 |

---

See Notes to Portfolio of Investments.

844

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  DBGS Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-5BP B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.228%, 6/15/33(l)§ | $100000 | $94461 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1735 X |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.431%, 4/10/37 IO(l)§ | 1365000 | 13055 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SBL A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.033%, 8/15/34(l)§ | 11000 | 11034 |
|  DBJPM Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C1 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.276%, 5/10/49 | 20000 | 19845 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C6 XD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 6/10/50 IO(l) | 300000 | 4363 |
|  DK Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-LXP A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.743%, 8/15/37(l)§ | 34000 | 34000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-LXP D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.041%, 8/15/37(l)§ | 11000 | 11014 |
|  DOLP Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NYC A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.956%, 5/10/41§ | 1000000 | 892037 |
|  ELM Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-ELM A10 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.994%, 6/10/39(l)§ | 44000 | 44289 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-ELM A15 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.994%, 6/10/39(l)§ | 44000 | 44288 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-ELM XP10 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.242%, 6/10/39 IO(l)§ | 1000000 | 1550 |
|  EQT Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-EXTR A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.331%, 7/5/41(l)§ | 18000 | 18413 |
|  EQUS Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-EQAZ A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.170%, 10/15/38(l)§ | 397507 | 397320 |
|  Extended Stay America Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ESH A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.344%, 7/15/38(l)§ | 1770880 | 1770880 |
|  FHLMC Multiclass Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-P015 A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.448%, 11/25/32(l) | 24867 | 24839 |
|  FHLMC Multifamily Structured Pass-Through Certificates, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series K120 X1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.123%, 10/25/30 IO(l) | 2414718 | 99592 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series K121 X1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.111%, 10/25/30 IO(l) | 116531 | 4770 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series KJ48 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.028%, 10/25/31 | 25000 | 25755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series KL05 X1P |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.024%, 6/25/29 IO(l) | 662000 | 20281 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series KL06 XFX |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.462%, 12/25/29 IO(l) | 167636 | 6654 |
|  FNMA ACES, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-M32 X2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.243%, 10/25/29 IO(l) | 17746399 | 555180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-M13 X1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.239%, 6/25/31 IO(l) | 16397972 | 535125 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-M15 X1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.563%, 9/25/31 IO(l) | 3024809 | 181107 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-M4 A1X |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.540%, 5/25/30(l) | 1260617 | 1205368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-M1 A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 1/25/35(l) | 4864000 | 4886278 |
|  GNMA, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-30 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.533%, 9/16/53 IO(l) | 32691 | 399 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-96 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.769%, 12/16/57 IO(l) | 29320 | 1010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-143 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.967%, 10/16/63 IO(l) | 6897899 | 459982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-20 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.144%, 8/16/62 IO(l) | 4901410 | 367710 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-208 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.757%, 6/16/64 IO(l) | 8157363 | 427894 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-22 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.973%, 5/16/63 IO(l) | 6106506 | 401767 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-52 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.722%, 4/16/63 IO(l) | 6164366 | 316921 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-71 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.864%, 10/16/62 IO(l) | 6862286 | 436123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-49 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.756%, 3/16/64 IO(l) | 7938267 | 421662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-118 BA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 5/16/65(l) | 14709 | 13062 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-50 AC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 9/16/63(l) | 11462 | 9884 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-126 AD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/16/65 | 102853 | 100943 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-128 AD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/16/56 | 93821 | 92554 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-128 AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 7/16/66 | 93867 | 91802 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-129 AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 9/16/54 | 29935 | 29411 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-130 AL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 8/16/56 | 29940 | 29421 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-88 AT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/16/58 | 23693 | 23697 |
|  Grace Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-GRCE D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.769%, 12/10/40(l)§ | 142000 | 123807 |
|  Great Wolf Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-WLF2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.841%, 5/15/41(l)§ | 116000 | 116217 |
|  GS Mortgage Securities Corp. Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-GPTX A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.856%, 5/10/34§ | 84854 | 73083 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-TWR D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.048%, 7/15/31(l)§ | 110000 | 14895 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-FUN A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.241%, 3/15/28(l)§ | 100000 | 100406 |
|  GS Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-GS1 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.637%, 11/10/48 IO(l) | 270311 | 145 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-GS3 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.283%, 10/10/49 IO(l) | 255954 | 1287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-GS7 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.169%, 8/10/50 IO(l) | 2244762 | 28948 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-GSA1 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.927%, 11/10/52 IO(l) | 1134383 | 29434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-GC45 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.727%, 2/13/53 IO(l) | 3082316 | 65273 |
|  HILT Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-ORL D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.339%, 5/15/37(l)§ | 100000 | 99937 |

---

See Notes to Portfolio of Investments.

845

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  HIT Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-HI32 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.541%, 7/15/39(l)§ | $5143 | $5151 |
|  HLTN Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-DPLO A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.792%, 6/15/41(l)§ | 24000 | 24038 |
|  HMH Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-NSS A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.062%, 7/5/31§ | 70000 | 57082 |
|  ILPT Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-LPF2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.468%, 7/13/42(l)§ | 115000 | 116645 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-LPF2 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.725%, 7/13/42(l)§ | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;203191 |
|  JP Morgan Chase Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-JP3 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.397%, 8/15/49(l) | 331000 | 308216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-JP3 XC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 8/15/49 IO(l)§ | 240000 | 1349 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-AON A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.128%, 7/5/31§ | 23000 | 20971 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-PHH A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.407%, 6/15/35(l)§ | 106599 | 90721 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MHC A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.315%, 4/15/38(l)§ | 8659 | 8657 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MHC D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.215%, 4/15/38(l)§ | 90000 | 90084 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-DATA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.046%, 6/10/42(l)§ | 600000 | 559368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-OPO D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.565%, 1/5/39(l)§ | 100000 | 84516 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-BHR5 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.844%, 3/15/40(l)§ | 74581 | 74581 |
|  JPMBB Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-C25 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.609%, 11/15/47 IO(l) | 548473 | 770 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C32 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.208%, 11/15/48 IO(l) | 743039 | 2057 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C33 D1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.314%, 12/15/48(l)§ | 100000 | 91862 |
|  JPMCC Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-JP6 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.848%, 7/15/50(l) | 350000 | 306208 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-COR5 A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.123%, 6/13/52 | 20000 | 19204 |
|  JPMDB Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C2 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.617%, 6/15/49 IO(l) | 1217371 | 6347 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C4 XC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 12/15/49 IO(l)§ | 1800000 | 11229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-COR7 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.770%, 5/13/53 IO(l) | 2259149 | 108315 |
|  JW Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-MRCO A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.771%, 6/15/39(l)§ | 32000 | 32090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-MRCO D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.339%, 6/15/39(l)§ | 24000 | 24111 |
|  KREST Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-CHIP A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.558%, 11/5/44§ | 700000 | 549002 |
|  KSL Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.043%, 6/15/30(l)§ | 13000 | 12969 |
|  Ladder Capital Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-GCP XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.302%, 2/15/36 IO(l)§ | 875512 | 19694 |
|  LBA Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-BOLT A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.741%, 6/15/39(l)§ | 140000 | 140175 |
|  LCCM Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-LC26 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.706%, 7/12/50§ | 300000 | 281007 |
|  LoanCore Issuer LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CRE8 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.528%, 8/17/42(l)§ | 280000 | 280687 |
|  LSTAR Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-5 X |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.004%, 3/10/50 IO(l)§ | 2045995 | 13069 |
|  MAD Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-11MD C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.631%, 10/15/42(l)§ | 150000 | 149908 |
|  MCR Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-TWA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.924%, 6/12/39§ | 33000 | 33462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-TWA XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.920%, 6/12/39 IO§ | 178000 | 1847 |
|  MHC Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MHC2 D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.764%, 5/15/38(l)§ | 96000 | 96030 |
|  MIRA Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-MILE A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.755%, 6/10/38§ | 100000 | 104033 |
|  Morgan Stanley Bank of America Merrill Lynch Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C31 ASB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.952%, 11/15/49 | 66116 | 65808 |
|  Morgan Stanley Capital I Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-H1 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.075%, 6/15/50 | 198000 | 190283 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-H1 XD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.294%, 6/15/50 IO(l)§ | 300000 | 8712 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-MP A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.419%, 7/11/40(l)§ | 219000 | &nbsp;&nbsp;&nbsp;&nbsp;206258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-H6 XB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.862%, 6/15/52 IO(l) | 1000000 | 23272 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-L2 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.157%, 3/15/52 IO(l) | 2631932 | 74264 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-L3 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.711%, 11/15/52 IO(l) | 4177083 | 91540 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-L4 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.082%, 2/15/53 | 207000 | 187025 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-NSTB A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 9/24/57(l)§ | 230192 | 228204 |

---

See Notes to Portfolio of Investments.

846

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  MSWF Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.141%, 12/15/56 IO(l) | $997728 | $57578 |
|  Natixis Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-SOX A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.404%, 6/17/38§ | 100000 | 95864 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-APPL A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.365%, 8/15/38(l)§ | 649721 | &nbsp;&nbsp;&nbsp;&nbsp;630992 |
|  NCMF Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-MFS A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.046%, 6/10/33(l)§ | 67000 | 67113 |
|  New Orleans Hotel Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-HNLA A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.187%, 4/15/32(l)§ | 400000 | 397607 |
|  NJ Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-WBRK A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.867%, 3/5/35(l)§ | 188000 | 194988 |
|  NRTH Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-PARK A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.543%, 10/15/40(l)§ | 100000 | 99750 |
|  NYO Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1290 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.360%, 11/15/38(l)§ | 1100000 | 1096583 |
|  Olympic Tower Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-OT XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.511%, 5/10/39 IO(l)§ | 1000000 | 4589 |
|  One Market Plaza Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-1MKT XCP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 2/10/32 IO(l)§ | 830828 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-1MKT XNCP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.219%, 2/10/32 IO(l)§ | 166165 | 101 |
|  ONE Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-PARK A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.964%, 3/15/36(l)§ | 600000 | 591083 |
|  PENN Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-P11 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.522%, 8/10/42(l)§ | 12000 | 12162 |
|  PGA Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RSR2 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.041%, 6/15/39(l)§ | 114000 | 114000 |
|  ROCK Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CNTR A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.388%, 11/13/41§ | 140000 | 143642 |
|  SCG Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-FLWR A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 8/15/42(l)§ | 183000 | 183171 |
|  SFO Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-555 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.764%, 5/15/38(l)§ | 180000 | 178312 |
|  SG Commercial Mortgage Securities Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-PREZ D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.593%, 9/15/39(l)§ | 30000 | 25928 |
|  SREIT Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MFP D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.843%, 11/15/38(l)§ | 307855 | 307566 |
|  UBS Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C7 A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.679%, 12/15/50 | 140000 | 138196 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C12 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.787%, 8/15/51(l) | 75000 | 70344 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C13 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.938%, 10/15/51 IO(l) | 7713862 | 141597 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C8 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.838%, 2/15/51(l) | 226000 | 208881 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C17 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.578%, 10/15/52 IO(l) | 912230 | 41662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C18 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.109%, 12/15/52 IO(l) | 911873 | 29532 |
|  VEGAS Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-TI A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.518%, 11/10/39§ | 100000 | 101501 |
|  Velocity Commercial Capital Loan Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.760%, 3/25/49(l)§ | 192241 | 188067 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-6 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.810%, 12/25/54(l)§ | 868912 | 872400 |
|  VNDO Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-350P D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.033%, 1/10/35(l)§ | 100000 | 97996 |
|  VRTX Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-HQ A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.090%, 8/5/42(l)§ | 100000 | 100571 |
|  Wells Fargo Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C27 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.894%, 2/15/48 | 148658 | 132454 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-LC20 C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.056%, 4/15/50(l) | 52402 | 50735 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015-NXS2 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.046%, 7/15/58 IO(l) | 223896 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-BNK1 XD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.367%, 8/15/49 IO(l)§ | 1000000 | 7499 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C32 A3FL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.677%, 1/15/59(l) | 2423 | 2425 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C33 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.704%, 3/15/59 IO(l) | 751756 | 1194 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-C34 A3FL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.297%, 6/15/49(l)§ | 30000 | 29913 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C38 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.048%, 7/15/50 IO(l) | 2159052 | 22786 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-C39 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.216%, 9/15/50 IO(l) | 2080278 | 33176 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1745 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.874%, 6/15/36(l)§ | 600000 | 552631 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C46 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.633%, 8/15/51 | 24000 | 22799 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C49 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.546%, 3/15/52 | 90000 | 87811 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C50 B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.192%, 5/15/52 | 150000 | 138972 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C50 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.571%, 5/15/52 IO(l) | 808554 | 29406 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-C55 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.937%, 2/15/53 | 207000 | &nbsp;&nbsp;&nbsp;&nbsp;184536 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-C55 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.398%, 2/15/53 IO(l) | 3858192 | 165872 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-C56 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.381%, 6/15/53 IO(l) | 3012968 | 131049 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C59 XA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.620%, 4/15/54 IO(l) | 2929490 | 166756 |

---

See Notes to Portfolio of Investments.

847

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FCMT D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.765%, 5/15/31(l)§ | $110000 | $110324 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5C2 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.346%, 11/15/57(l) | 315000 | 330481 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-BPRC B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.215%, 7/15/43§ | 47000 | 47953 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-BPRC C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.432%, 7/15/43§ | 30000 | 30490 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-BPRC D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.082%, 7/15/43§ | 10000 | 10214 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024-BPRC X |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.312%, 7/15/43 IO(l)§ | 369000 | 3192 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C3 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.390%, 1/15/58(l) | 295000 | 311787 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5C6 AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.582%, 10/15/58(l) | 297000 | &nbsp;&nbsp;&nbsp;&nbsp;305276 |
|  WEST Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025-ROSE A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.454%, 4/10/35(l)§ | 18000 | 18229 |
|  WMRK Commercial Mortgage Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-WMRK A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.939%, 11/15/27(l)§ | 100000 | 100250 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-WMRK B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.586%, 11/15/27(l)§ | 100000 | 100250 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Mortgage- Backed Securities** |  | 51178842 |
|  **Corporate Bonds (26.5%)** |  |  |
|  **Communication Services (1.4%)** |  |  |
|  ***Diversified Telecommunication Services (0.4%)*** |  |  |
|  AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 2/15/27 | 100000 | 99547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 3/1/27 | 150000 | 150291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 2/15/28 | 120000 | 119908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 2/15/30 | 130000 | 130195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 2/15/34 | 329000 | 341471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/15/53 | 54000 | 37129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 12/1/57 | 164000 | 116411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 9/15/59 | 260000 | 177845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 6/1/60 | 54000 | 38430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/1/61 | 93000 | 61088 |
|  Bell Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 2/15/34 | 100000 | 101231 |
|  NBN Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/1/29§ | 500000 | 500000 |
|  Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/16/27 | 150000 | 150079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 3/22/28 | 60000 | 57201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.329%, 9/21/28 | 118000 | 118838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 9/18/30(x) | 55000 | 48046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 3/21/31 | 597000 | 542434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.355%, 3/15/32 | 225000 | 197360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.401%, 7/2/37§ | 112000 | 113770 |
|  |  | 3101274 |
|  ***Entertainment (0.1%)*** |  |  |
|  Netflix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 8/15/34 | 40000 | 41292 |
|  Take-Two Interactive Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 3/28/28 | 50000 | 50908 |
|  Walt Disney Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 3/22/30(x) | 250000 | 246944 |
|  Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.755%, 3/15/27 | 375000 | 369141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.141%, 3/15/52 | 4000 | 2967 |
|  |  | 711252 |
|  ***Interactive Media & Services (0.1%)*** |  |  |
|  Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 5/15/28 | 100000 | 102052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 8/15/34 | 455000 | 459798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 8/15/62 | 223000 | 190337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 8/15/64 | 11000 | 10893 |
|  |  | 763080 |
|  ***Media (0.5%)*** |  |  |
|  Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.650%, 2/1/34 | 15000 | 16039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.550%, 6/1/34 | 310000 | 330079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.384%, 10/23/35 | 118000 | 123784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/1/42 | 56000 | 40436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 4/1/48 | 279000 | 252595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/1/50 | 48000 | 37856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 4/1/51 | 189000 | 124086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 6/1/52 | 14000 | 9446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 4/1/53 | 14000 | 11731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 4/1/61 | 1258000 | 786723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 12/1/61 | 112000 | 77322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 6/30/62 | 45000 | 28414 |
|  Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 10/15/28 | 245000 | 245879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 2/1/30 | 200000 | 187450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 1/15/31 | 16000 | 14175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/15/32 | 20000 | 21201 |
|  Cox Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 8/15/27§ | 400000 | 394712 |
|  Fox Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.709%, 1/25/29 | 100000 | 101217 |
|  Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 10/4/26(e) | 42000 | 41595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 1/15/27 | 212000 | 207603 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 2/15/28 | 455000 | &nbsp;&nbsp;&nbsp;&nbsp;443172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 1/15/31 | 200000 | 197371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 4/1/44 | 15000 | 12388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 8/15/44 | 11000 | 8851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 1/15/45 | 12000 | 9342 |
|  |  | 3723467 |
|  ***Wireless Telecommunication Services (0.3%)*** |  |  |
|  America Movil SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/20/33 | 100000 | 101485 |
|  Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 3/15/27 | 65000 | 64073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 2/15/34 | 100000 | 101475 |
|  Sprint LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 3/1/26 | 30000 | 30081 |
|  T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/15/27 | 200000 | 198792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 1/15/29 | 475000 | 484427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 4/15/29 | 113000 | 109661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 4/15/30 | 1120000 | 1097025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 5/15/32 | 166000 | 170688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 1/15/33(x) | 146000 | 150681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 4/15/34 | 150000 | 153322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 11/15/60 | 82000 | 55492 |

---

See Notes to Portfolio of Investments.

848

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 9/15/62 | $136000 | $136366 |
|  |  | 2853568 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 11152641 |
|  **Consumer Discretionary (1.0%)** |  |  |
|  ***Automobile Components (0.0%)†*** |  |  |
|  Magna International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/21/33 | 100000 | 103753 |
|  ***Automobiles (0.4%)*** |  |  |
|  Ford Motor Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 2/12/32 | 200000 | 174530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 8/19/32(x) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;204832 |
|  General Motors Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 4/15/28 | 16000 | 16361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 4/15/35 | 150000 | 157264 |
|  Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/30/26§ | 300000 | 301561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 9/21/26§ | 200000 | 203079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 1/8/27§ | 300000 | 303353 |
|  Mercedes-Benz Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/30/28§ | 500000 | 507564 |
|  Nissan Motor Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.201%, 9/17/28(m) | 400000 | 459791 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.810%, 9/17/30§ | $700000 | 658007 |
|  Toyota Motor Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.123%, 7/13/33 | 150000 | 156048 |
|  Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 9/12/28§ | 400000 | 412117 |
|  |  | 3554507 |
|  ***Broadline Retail (0.2%)*** |  |  |
|  Alibaba Group Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/9/31 | 100000 | 90066 |
|  Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 4/13/27 | 100000 | 99294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 8/22/27 | 50000 | 49476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 5/12/28(x) | 50000 | 47359 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 6/3/30 | 85000 | 76125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 5/12/31 | 50000 | 44872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 4/13/32 | 100000 | 96568 |
|  eBay, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 11/22/25 | 400000 | 400325 |
|  Prosus NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.193%, 1/19/32(m) | 418000 | 401430 |
|  |  | 1305515 |
|  ***Diversified Consumer Services (0.0%)†*** |  |  |
|  Wand NewCo 3, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 1/30/32§ | 300000 | 316139 |
|  ***Hotels, Restaurants & Leisure (0.3%)*** |  |  |
|  Booking Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/21/32 | 100000 | 116890 |
|  Choice Hotels International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 12/1/29 | $600000 | 572912 |
|  Expedia Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 8/1/27 | 63000 | 63455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 2/15/30 | 372000 | 355460 |
|  Hyatt Hotels Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 1/30/27 | 30000 | 30558 |
|  Las Vegas Sands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/15/29 | 400000 | 415878 |
|  Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/27 | 55000 | 55971 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/15/30 | 400000 | 406304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/1/34 | 31000 | 30203 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series FF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 6/15/30 | 25000 | 25245 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series X |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/15/28 | 25000 | 24916 |
|  McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 9/1/29 | 40000 | 37898 |
|  Royal Caribbean Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 1/15/36 | 50000 | 50183 |
|  Starbucks Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 8/15/29 | 100000 | 97941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/14/32(x) | 20000 | 18400 |
|  |  | 2302214 |
|  ***Household Durables (0.0%)†*** |  |  |
|  DR Horton, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/15/35 | 25000 | 25869 |
|  Leggett & Platt, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/15/27(x) | 25000 | 24508 |
|  Lennar Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/29/27 | 100000 | 100961 |
|  Mohawk Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5/15/30 | 25000 | 24115 |
|  |  | 175453 |
|  ***Leisure Products (0.0%)†*** |  |  |
|  Hasbro, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/15/27 | 15000 | 14805 |
|  ***Specialty Retail (0.1%)*** |  |  |
|  AutoZone, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/1/28 | 70000 | 70653 |
|  Home Depot, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.900%, 3/15/28 | 65000 | 60546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 6/15/29 | 30000 | 28940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/25/29 | 45000 | 46073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 9/15/31 | 85000 | 74229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 4/15/32 | 45000 | 42090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 9/15/35 | 40000 | 39654 |
|  Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 4/5/29 | 200000 | 196153 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/15/33 | 40000 | 40954 |
|  O'Reilly Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 6/1/28 | 50000 | 50249 |
|  Tractor Supply Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 5/15/33 | 5000 | 5149 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;654690 |
|  ***Textiles, Apparel & Luxury Goods (0.0%)†*** |  |  |
|  Ralph Lauren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 6/15/30 | 15000 | 14146 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 8441222 |
|  **Consumer Staples (0.9%)** |  |  |
|  ***Beverages (0.2%)*** |  |  |
|  Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1/23/29 | 250000 | 254839 |
|  Coca-Cola Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 5/25/27 | 50000 | 49277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/5/31 | 65000 | 58446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 8/14/34(x) | 55000 | 55875 |
|  Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 5/9/27 | 100000 | 100277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 1/15/29 | 375000 | 380424 |
|  Diageo Capital plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 10/24/29 | 200000 | 187203 |

---

See Notes to Portfolio of Investments.

849

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  Heineken NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.505%, 5/3/34(m) | 150000 | $176995 |
|  Keurig Dr Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 4/15/29 | $100000 | 98282 |
|  PepsiCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/15/27 | 100000 | 98405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 3/19/30 | 200000 | 188845 |
|  |  | 1648868 |
|  ***Consumer Staples Distribution & Retail (0.1%)*** |  |  |
|  Costco Wholesale Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.600%, 4/20/30(x) | 200000 | 180200 |
|  Kroger Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 10/15/26 | 50000 | 49259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/15/29 | 25000 | 25297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/15/34 | 45000 | 45264 |
|  Sysco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 7/15/27 | 50000 | 49317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 9/23/30 | 35000 | 36089 |
|  Target Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 4/15/29 | 100000 | 97794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/15/32 | 50000 | 50283 |
|  Walmart, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 7/8/29 | 200000 | 195816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 9/24/29 | 3000 | 2838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 9/22/31 | 15000 | 13210 |
|  |  | 745367 |
|  ***Food Products (0.2%)*** |  |  |
|  Bunge Ltd. Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 5/14/31 | 25000 | 22883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 8/4/35 | 50000 | 50592 |
|  Campbell's Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 3/15/28 | 25000 | 24964 |
|  Conagra Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 11/1/28 | 225000 | 227251 |
|  General Mills, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 4/17/28 | 215000 | 215375 |
|  Hormel Foods Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 6/3/28(x) | 70000 | 65989 |
|  J M Smucker Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 3/15/30 | 15000 | 13840 |
|  Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/1/30§ | 400000 | 407143 |
|  Mondelez International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 4/13/30 | 200000 | 187576 |
|  Unilever Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 5/5/27 | 100000 | 98603 |
|  |  | 1314216 |
|  ***Household Products (0.0%)†*** |  |  |
|  Clorox Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 5/15/30 | 15000 | 13443 |
|  Kimberly-Clark Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 11/1/28 | 10000 | 9997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 4/25/29 | 50000 | 48746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/2/31 | 25000 | 22297 |
|  Procter & Gamble Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 10/29/30 | 50000 | 43729 |
|  |  | 138212 |
|  ***Personal Care Products (0.0%)†*** |  |  |
|  Estee Lauder Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 3/15/31 | 45000 | 39729 |
|  Haleon US Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 3/24/27 | 250000 | 247385 |
|  |  | 287114 |
|  ***Tobacco (0.4%)*** |  |  |
|  Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 2/14/29 | 40000 | 40624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 2/6/35 | 25000 | 25889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 8/6/35 | 75000 | 75653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 8/9/42 | 67000 | 56272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/2/43 | 192000 | 164228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 9/16/46 | 193000 | 147587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 2/14/59 | 10000 | 10282 |
|  BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.557%, 8/15/27 | 100000 | 98904 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.259%, 3/25/28 | 225000 | 214898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.742%, 3/16/32 | 899000 | 902673 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 3/22/33 | 90000 | 89020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.079%, 8/2/43 | 76000 | 85770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.540%, 8/15/47 | 25000 | 20830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 3/16/52 | 135000 | 128906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 8/15/55(x) | 228000 | 237571 |
|  BAT International Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.931%, 2/2/29 | 400000 | 419720 |
|  Imperial Brands Finance plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 7/26/26§ | 400000 | 397147 |
|  Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 2/15/33 | 200000 | 208508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/13/34 | 100000 | 103158 |
|  |  | 3427640 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 7561417 |
|  **Energy (3.2%)** |  |  |
|  ***Energy Equipment & Services (0.0%)†*** |  |  |
|  Baker Hughes Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.337%, 12/15/27 | 100000 | 98562 |
|  FORESEA Holding SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 6/15/30(m) | 32553 | 31414 |
|  |  | 129976 |
|  ***Oil, Gas & Consumable Fuels (3.2%)*** |  |  |
|  Adnoc Murban Rsc Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 9/11/29§ | 200000 | 200812 |
|  Antero Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 3/1/30§ | 808000 | 812080 |
|  APA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/15/30(x) | 74000 | 70870 |
|  Boardwalk Pipelines LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 5/3/29 | 20000 | 20259 |
|  BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.588%, 4/14/27 | 100000 | 99450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.234%, 11/6/28 | 200000 | 200871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.227%, 11/17/34 | 191000 | 197221 |
|  BP Capital Markets plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.279%, 9/19/27 | 50000 | 49371 |
|  Cameron LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.402%, 1/15/38§ | 333000 | 288187 |
|  Canadian Natural Resources Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/29§ | 400000 | 408907 |
|  Cheniere Corpus Christi Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 6/30/27 | 71000 | 71788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 11/15/29 | 669000 | 650512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.742%, 12/31/39 | 183000 | 153516 |

---

See Notes to Portfolio of Investments.

850

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 1/31/32 | $400000 | $364054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 6/30/33 | 50000 | 52804 |
|  Cheniere Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/28 | 200000 | 199446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 4/15/34 | 1125000 | 1157443 |
|  Chevron USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.819%, 4/15/32 | 100000 | 102677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/15/32 | 100000 | 100602 |
|  ConocoPhillips Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 4/15/29 | 200000 | 218595 |
|  Continental Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 1/15/31§ | 500000 | 515697 |
|  Coterra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/15/29 | 100000 | 99634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 2/15/35 | 400000 | 403550 |
|  Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 12/1/26 | 800000 | 791584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 4/18/27 | 75000 | 76076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/1/29 | 1021000 | 985189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 3/24/31 | 250000 | 232083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 4/18/34 | 40000 | 40796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 3/15/52 | 300000 | 234378 |
|  Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 7/15/27 | 50000 | 49580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 4/5/34 | 150000 | 156433 |
|  Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 2/15/28 | 25000 | 25717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 12/1/28 | 200000 | 210339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 5/15/30 | 100000 | 97141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 5/15/34 | 150000 | 153772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/15/50 | 700000 | 596001 |
|  Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 1/31/30 | 30000 | 28326 |
|  EOG Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 4/15/30 | 200000 | 200899 |
|  EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 6/1/27 | 51000 | 51796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 7/1/27 | 113000 | 115612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 10/1/27 | 407000 | 403992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 4/1/28 | 365000 | 376955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/15/29 | 174000 | 173788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/15/29 | 515000 | 520702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 4/1/29 | 273000 | 283221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 2/1/30(e) | 129000 | 139758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 6/1/30(x) | 1530000 | 1685035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1/15/31 | 737000 | 734976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5/15/31§ | 892000 | 833324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 2/1/34 | 324000 | 338632 |
|  Equinor ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/10/28 | 100000 | 99019 |
|  Expand Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 2/1/29 | 186000 | 186459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 3/15/30 | 394000 | 399808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/1/32 | 294000 | 288899 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 1/15/35 | 740000 | 759605 |
|  Flex Intermediate Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.363%, 6/30/31§ | 400000 | 366678 |
|  Greensaif Pipelines Bidco Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.853%, 2/23/36(m) | 201000 | 210853 |
|  HF Sinclair Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 1/15/35 | 50000 | 52149 |
|  KazMunayGas National Co. JSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 10/24/48(m) $ | 200000 | 198478 |
|  Korea National Oil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 4/3/29§ | 400000 | 409200 |
|  Marathon Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 12/15/26 | 100000 | 100886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 4/1/28 | 15000 | 14834 |
|  MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/15/28 | 200000 | 198746 |
|  NGPL PipeCo LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 7/15/31§ | 10000 | 9049 |
|  Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 8/1/29 | 125000 | 126736 |
|  ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 3/15/29 | 50000 | 49762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/1/30 | 15000 | 14151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 9/1/30§ | 400000 | 432806 |
|  ORLEN SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1/30/35(m) | 200000 | 208789 |
|  Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 5/15/28 | 35000 | 36031 |
|  Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 2/7/33 | 200000 | 231850 |
|  Phillips 66 Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 10/1/26 | 25000 | 24847 |
|  Pioneer Natural Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 3/29/26 | 200000 | 200955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 8/15/30 | 50000 | 44855 |
|  Plains All American Pipeline LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/15/26 | 50000 | 50065 |
|  Raizen Fuels Finance SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7/8/32§ | 207000 | 202239 |
|  Repsol E&P Capital Markets US LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.805%, 9/16/28§ | 200000 | 200715 |
|  Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/15/27 | 321000 | 323075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 3/15/28 | 200000 | 199815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/15/30 | 593000 | 594965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 9/15/37 | 230456 | 241362 |
|  Saudi Arabian Oil Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 7/17/34§ | 400000 | 411500 |
|  Shell Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 11/7/29 | 50000 | 46882 |
|  South Bow USA Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.911%, 9/1/27 | 21000 | 21169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.026%, 10/1/29 | 400000 | 404500 |
|  Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 3/1/29 | 616000 | 648497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 3/15/33 | 509000 | 541222 |
|  TotalEnergies Capital International SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.455%, 2/19/29 | 100000 | 98175 |
|  TotalEnergies Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.724%, 9/10/34 | 50000 | 50263 |
|  TransCanada PipeLines Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/28 | 100000 | 99969 |
|  Valero Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/1/29 | 65000 | 64210 |

---

See Notes to Portfolio of Investments.

851

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  Venture Global Calcasieu Pass LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/29§ | $200000 | $191750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/1/33§ | 100000 | 90000 |
|  Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 6/1/28§ | 300000 | 310500 |
|  Viper Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 8/1/30 | 55000 | 55385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 8/1/35 | 50000 | 50773 |
|  Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 4/1/33 | 20000 | 21142 |
|  Williams Cos., Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 3/15/31 | 65000 | 58907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 8/15/32 | 11000 | 10953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/15/34 | 100000 | 101490 |
|  |  | 25729419 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | 25859395 |
|  **Financials (10.2%)** |  |  |
|  ***Banks (5.9%)*** |  |  |
|  ABN AMRO Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.55%), 6.575%, 10/13/26(k)§ | 400000 | 400261 |
|  Banco Bilbao Vizcaya Argentaria SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.30%), 7.883%, 11/15/34(k) | 100000 | 116031 |
|  Banco Espirito Santo SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/21/19(h)(m) | 900000 | 266274 |
|  Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.25%), 5.552%, 3/14/28(k) | $400000 | 407130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.588%, 8/8/28 | 200000 | 207763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.607%, 11/7/28 | 200000 | 213800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.749%, 12/3/30 | 200000 | 181401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.439%, 7/15/31 | 100000 | 104991 |
|  Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.96%), 1.734%, 7/22/27(k) | 76000 | 74465 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.77%), 3.705%, 4/24/28(k) | 215000 | 213579 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.58%), 4.376%, 4/27/28(k) | 550000 | 551670 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.30%), 3.419%, 12/20/28(k) | 527000 | 518031 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.11%), 4.623%, 5/9/29(k) | 10000 | 10120 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.06%), 2.087%, 6/14/29(k) | 100000 | 94648 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.57%), 4.271%, 7/23/29(k) | 50000 | 50155 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.57%), 5.819%, 9/15/29(k) | 500000 | 522549 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.47%), 3.974%, 2/7/30(k) | 400000 | 396713 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.32%), 2.687%, 4/22/32(k) | 262000 | 238026 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.21%), 2.572%, 10/20/32(k) | 216000 | 193531 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.33%), 2.972%, 2/4/33(k) | 248000 | 225233 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.83%), 4.571%, 4/27/33(k) | 258000 | 257333 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.16%), 5.015%, 7/22/33(k) | 55000 | 56169 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.91%), 5.288%, 4/25/34(k) | 122000 | 126306 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.84%), 5.872%, 9/15/34(k) | 200000 | 213911 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.65%), 5.468%, 1/23/35(k) | 40000 | 41667 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.31%), 5.511%, 1/24/36(k) | 75000 | 78261 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.70%), 5.744%, 2/12/36(k) | 70000 | 72786 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.64%), 5.464%, 5/9/36(k) | 117000 | 122074 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.00%), 3.846%, 3/8/37(k) | 200000 | 186527 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series FIX |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.00%), 5.162%, 1/24/31(k) | 217000 | 224044 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series N |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.22%), 2.651%, 3/11/32(k) | 100000 | 90948 |
|  Bank of America NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.02%), 5.202%, 8/18/26(k) | 400000 | 401910 |
|  Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.08%), 4.350%, 9/22/31(k) | 150000 | 149226 |
|  Bank of Nova Scotia (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/12/28 | 100000 | 103074 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.09%), 4.338%, 9/15/31(k) | 100000 | 99282 |
|  Banque Federative du Credit Mutuel SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.896%, 7/13/26§ | 300000 | 303858 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.07%), 5.252%, 2/16/28(k)§ | 400000 | 402582 |
|  Barclays plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.49%), 5.659%, 3/12/28(k) | 200000 | 202000 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.49%), 5.674%, 3/12/28(k) | 250000 | 254728 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.30%), 7.385%, 11/2/28(k) | 300000 | 318185 |

---

See Notes to Portfolio of Investments.

852

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value<br>(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (GBP Swap Semi 1 Year + 2.55%), 7.090%, 11/6/29(k)(m) | 500000 | $716092 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.50%), 7.437%, 11/2/33(k) | $550000 | 630327 |
|  BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.61%), 1.904%, 9/30/28(k)§ | 700000 | 666643 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.59%), 5.497%, 5/20/30(k)§ | 400000 | 413246 |
|  BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.281%, 5/30/29§ | 250000 | 258038 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.27%), 6.714%, 10/19/29(k)§ | 400000 | 424836 |
|  Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.17%), 4.580%, 9/8/31(k) | 150000 | 150300 |
|  Citibank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.488%, 12/4/26 | 600000 | 609488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.803%, 9/29/28 | 200000 | 209756 |
|  Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 9/29/27 | 200000 | 200832 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.28%), 3.070%, 2/24/28(k) | 400000 | 393920 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.14%), 4.643%, 5/7/28(k) | 225000 | 226310 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.65%), 3.668%, 7/24/28(k) | 125000 | 123871 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.36%), 5.174%, 2/13/30(k) | 244000 | 250457 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.60%), 3.980%, 3/20/30(k) | 150000 | 148235 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.34%), 4.542%, 9/19/30(k) | 456000 | 457318 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), 2.976%, 11/5/30(k) | 50000 | 47283 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.15%), 2.666%, 1/29/31(k) | 79000 | 73387 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.17%), 4.503%, 9/11/31(k) | 105000 | 104995 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.18%), 2.520%, 11/3/32(k) | 177000 | 157032 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.35%), 3.057%, 1/25/33(k) | 203000 | 184581 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.94%), 3.785%, 3/17/33(k) | 384000 | 365586 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.34%), 6.270%, 11/17/33(k) | 250000 | 272344 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.45%), 5.449%, 6/11/35(k) | 400000 | 413373 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.83%), 6.020%, 1/24/36(k) | 65000 | 68008 |
| &nbsp;&nbsp;&nbsp;&nbsp; (EURIBOR 3 Month + 1.58%), 4.113%, 4/29/36(k) | 200000 | 241711 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.49%), 5.174%, 9/11/36(k) | $185000 | 186578 |
|  Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 4/30/30 | 30000 | 28381 |
|  Comerica, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/1/29 | 50000 | 49367 |
|  Commonwealth Bank of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.316%, 3/13/26 | 400000 | 402026 |
|  Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/5/26 | 300000 | 304254 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.12%), 5.447%, 3/5/30(k)§ | 400000 | 414206 |
|  Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.86%), 6.316%, 10/3/29(k)§ | 400000 | 421460 |
|  Danske Bank A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.40%), 5.705%, 3/1/30(k)§ | 400000 | 415989 |
|  Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.36%), 4.055%, 4/25/28(k) | 60000 | 59753 |
|  HSBC Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.35%), 7.390%, 11/3/28(k) | 700000 | 743173 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.46%), 5.546%, 3/4/30(k) | 100000 | 103759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 3/31/30 | 400000 | 409822 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.19%), 2.804%, 5/24/32(k) | 200000 | 181283 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.39%), 6.254%, 3/9/34(k) | 800000 | 870142 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.90%), 5.874%, 11/18/35(k) | 200000 | 206266 |
|  Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.05%), 5.023%, 5/17/33(k) | 35000 | 35188 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.17%), 2.487%, 8/15/36(k) | 100000 | 85387 |
|  ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.44%), 5.335%, 3/19/30(k) | 200000 | 206273 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.23%), 5.066%, 3/25/31(k) | 500000 | 511778 |
|  JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 10/1/26 | 815000 | 807055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/15/26 | 125000 | 125010 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.33%), 6.070%, 10/22/27(k) | 690000 | 703572 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.20%), 5.395%, 1/23/28(k) | 200000 | 200935 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.60%), 3.782%, 2/1/28(k) | 125000 | 124445 |

---

See Notes to Portfolio of Investments.

853

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.64%), 3.540%, 5/1/28(k) | $75000 | $74305 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.89%), 2.182%, 6/1/28(k) | 700000 | 678300 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.93%), 4.979%, 7/22/28(k) | 36000 | 36526 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.86%), 4.505%, 10/22/28(k) | 396000 | 399360 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.02%), 2.069%, 6/1/29(k) | 55000 | 52147 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.45%), 5.299%, 7/24/29(k) | 455000 | 468746 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.31%), 5.012%, 1/23/30(k) | 40000 | 40970 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.16%), 5.581%, 4/22/30(k) | 402000 | 419772 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.13%), 4.995%, 7/22/30(k) | 880000 | 902533 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.51%), 2.739%, 10/15/30(k) | 200000 | 188498 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.04%), 4.603%, 10/22/30(k) | 400000 | 404463 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.04%), 2.522%, 4/22/31(k) | 261000 | 241978 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.44%), 5.103%, 4/22/31(k)(x) | 362000 | 373733 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 2.52%), 2.956%, 5/13/31(k) | 200000 | 187581 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.25%), 2.580%, 4/22/32(k) | 75000 | 67988 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.18%), 2.545%, 11/8/32(k) | 362000 | 323889 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), 2.963%, 1/25/33(k) | 100000 | 91392 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.80%), 4.586%, 4/26/33(k) | 85000 | 84995 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.08%), 4.912%, 7/25/33(k) | 10000 | 10169 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.81%), 6.254%, 10/23/34(k) | 40000 | 44055 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.34%), 4.946%, 10/22/35(k) | 40000 | 40288 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.32%), 5.502%, 1/24/36(k) | 522000 | 545058 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.68%), 5.572%, 4/22/36(k)(x) | 191000 | 201438 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.64%), 5.576%, 7/23/36(k) | 70000 | 72610 |
|  KBC Group NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.10%), 5.796%, 1/19/29(k)§ | 200000 | 206511 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.07%), 4.932%, 10/16/30(k)§ | 400000 | 406313 |
|  KeyBank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/26/33 | 250000 | 251386 |
|  KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 2.42%), 6.401%, 3/6/35(k) | 250000 | 271214 |
|  Korea Development Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/15/29 | 200000 | 203258 |
|  Kreditanstalt fuer Wiederaufbau |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/20/27 | 180000 | 178041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 4/3/28 | 90000 | 88354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 5/15/28 | 100000 | 100527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/15/28 | 60000 | 60325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/15/29 | 100000 | 100963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 3/18/30 | 100000 | 103606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 9/30/30 | 105000 | 90626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 7/15/33 | 200000 | 200506 |
|  Landwirtschaftliche Rentenbank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 9/3/30(x) | 100000 | 86980 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 37 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/15/27 | 50000 | 48785 |
|  Lloyds Banking Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 5.087%, 11/26/28(k) | 200000 | 203436 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.06%), 5.197%, 11/26/28(k) | 200000 | 200696 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.75%), 5.679%, 1/5/35(k) | 200000 | 209284 |
|  M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.85%), 5.053%, 1/27/34(k) | 125000 | 125124 |
|  Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.67%), 1.640%, 10/13/27(k) | 200000 | 194713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.741%, 3/7/29 | 100000 | 98625 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.63%), 5.441%, 2/22/34(k) | 200000 | 209079 |
|  Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.018%, 3/5/28 | 200000 | 199743 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.25%), 3.261%, 5/22/30(k) | 700000 | 675009 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.90%), 5.748%, 7/6/34(k) | 200000 | 211940 |

---

See Notes to Portfolio of Investments.

854

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Morgan Stanley Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.08%), 5.360%, 1/14/28(k) | $400000 | $402312 |
|  National Securities Clearing Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/30/28§ | 400000 | 409992 |
|  NatWest Group plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 5.583%, 3/1/28(k) | 400000 | 407340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.076%, 1/27/30 | 200000 | 204328 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.50%), 5.778%, 3/1/35(k) | 50000 | 52631 |
|  Norinchukin Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.094%, 10/16/29§ | 400000 | 408535 |
|  Oesterreichische Kontrollbank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 3/1/28 | 75000 | 75682 |
|  PNC Financial Services Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.98%), 2.307%, 4/23/32(k) | 65000 | 57938 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.93%), 5.068%, 1/24/34(k) | 200000 | 203935 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.60%), 5.401%, 7/23/35(k) | 40000 | 41344 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.39%), 5.575%, 1/29/36(k) | 15000 | 15630 |
|  Regions Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.06%), 5.502%, 9/6/35(k)(x) | 25000 | 25647 |
|  Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.400%, 11/2/26(x) | 50000 | 48660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 1/19/27 | 400000 | 404556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.240%, 8/3/27 | 150000 | 150875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 1/12/28 | 325000 | 330918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/1/33 | 250000 | 258501 |
|  Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.88%), 5.741%, 3/20/31(k) | 95000 | 98056 |
|  Santander UK Group Holdings plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.22%), 2.469%, 1/11/28(k) | 200000 | 195326 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.60%), 6.534%, 1/10/29(k) | 700000 | 732082 |
|  Shinhan Bank Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/23/29§ | 500000 | 490130 |
|  Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.55%), 6.446%, 1/10/29(k)§ | 300000 | 312260 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.95%), 6.691%, 1/10/34(k)§ | 500000 | 544142 |
|  Standard Chartered plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.301%, 1/9/29§ | 600000 | 624024 |
|  Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.364%, 7/12/27(x) | 100000 | 98913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.352%, 10/18/27 | 100000 | 98675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.520%, 1/13/28 | 200000 | 206197 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.50%), 5.246%, 7/8/36(k) | 100000 | 102217 |
|  Sumitomo Mitsui Trust Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/7/27§ | 400000 | 405316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/9/28§ | 300000 | 308936 |
|  Toronto-Dominion Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 3/10/32 | 200000 | 185599 |
|  Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.44%), 4.873%, 1/26/29(k) | 40000 | 40562 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.62%), 5.435%, 1/24/30(k) | 110000 | 113747 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.85%), 5.122%, 1/26/34(k) | 150000 | 152060 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.92%), 5.711%, 1/24/35(k) | 200000 | 209562 |
|  US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.23%), 4.653%, 2/1/29(k) | 50000 | 50542 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.02%), 5.775%, 6/12/29(k) | 100000 | 104084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 7/22/30 | 200000 | 175147 |
|  Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/23/26 | 100000 | 98990 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.43%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.196%, 6/17/27(k) | 400000 | 397215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 7/22/27 | 100000 | 100252 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.07%), 5.707%, 4/22/28(k) | 288000 | 294735 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.57%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.584%, 5/22/28(k) | 75000 | 74323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 1/24/29 | 200000 | 199686 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.79%), 6.303%, 10/23/29(k) | 175000 | 185251 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.50%), 5.198%, 1/23/30(k) | 55000 | 56629 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.11%), 5.244%, 1/24/31(k) | 189000 | 195435 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.26%), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.572%, 2/11/31(k) | 435000 | 404364 |
| &nbsp;&nbsp;&nbsp;&nbsp; (EURIBOR 3 Month + 1.22%), 3.900%, 7/22/32(k)(m) | 100000 | 120771 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.50%), 3.350%, 3/2/33(k) | $780000 | 723756 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.10%), 4.897%, 7/25/33(k) | 48000 | 48786 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.02%), 5.389%, 4/24/34(k) | 281000 | 291022 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.38%), 5.211%, 12/3/35(k) | 40000 | 40768 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.74%), 5.605%, 4/23/36(k) | 65000 | 68145 |
|  Wells Fargo Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 8/7/26 | 200000 | 202243 |

---

See Notes to Portfolio of Investments.

855

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.07%), 5.239%, 12/11/26(k) | $400000 | $403156 |
|  Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 4/16/29 | 200000 | 206534 |
|  |  | 47629613 |
|  ***Capital Markets (2.1%)*** |  |  |
|  Ares Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 6/15/27 | 100000 | 97645 |
|  Ares Strategic Income Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 1/15/31§ | 100000 | 98648 |
|  Bank of New York Mellon Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.15%), 3.992%, 6/13/28(k) | 50000 | 49962 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.09%), 4.975%, 3/14/30(k) | 50000 | 51360 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series J |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 1/25/29 | 50000 | 46901 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.61%), 4.967%, 4/26/34(k) | 125000 | 126991 |
|  BGC Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 4/2/30§ | 400000 | 409310 |
|  BlackRock, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 4/30/29 | 15000 | 14648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/25/33 | 65000 | 66398 |
|  Blackstone Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 12/15/26 | 50000 | 48811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/22/34(x) | 50000 | 51238 |
|  Blue Owl Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 6/11/28 | 25000 | 23661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 3/15/29 | 26000 | 26574 |
|  Blue Owl Credit Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 9/23/26 | 73000 | 71948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.950%, 6/13/28 | 100000 | 107009 |
|  Brookfield Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 1/25/28 | 50000 | 49633 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.724%, 4/15/31 | 80000 | 72991 |
|  Carlyle Finance Subsidiary LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/19/29§ | 600000 | 582020 |
|  Charles Schwab Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 4/1/27 | 30000 | 29721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 5/13/31 | 50000 | 45045 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.01%), 6.136%, 8/24/34(k) | 200000 | 217711 |
|  Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.87%), 2.129%, 11/24/26(k) | 700000 | 697211 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.59%), 5.706%, 2/8/28(k) | 150000 | 152669 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.18%), 6.720%, 1/18/29(k) | 150000 | 157423 |
|  FactSet Research Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 3/1/32 | 36000 | 33218 |
|  FS KKR Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 10/12/28 | 50000 | 46316 |
|  Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/16/26 | 65000 | 64564 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.82%), 1.542%, 9/10/27(k) | 10000 | 9745 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.91%), 1.948%, 10/21/27(k) | 310000 | 302522 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 2.01%), 6.325%, 10/28/27(k) | 600000 | 608745 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.32%), 4.937%, 4/23/28(k) | 630000 | 637228 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.77%), 3.691%, 6/5/28(k) | 65000 | 64468 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.56%), 4.223%, 5/1/29(k) | 288000 | 288075 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.77%), 6.484%, 10/24/29(k) | 200000 | 212896 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.27%), 5.727%, 4/25/30(k) | 500000 | 523030 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.21%), 5.049%, 7/23/30(k) | 370000 | 378970 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.14%), 4.692%, 10/23/30(k) | 35000 | 35380 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.08%), 5.207%, 1/28/31(k) | 166000 | 171429 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.58%), 5.218%, 4/23/31(k) | 246000 | 253987 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.09%), 1.992%, 1/27/32(k) | 231000 | 203642 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.25%), 2.383%, 7/21/32(k) | 105000 | 93697 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), 2.650%, 10/21/32(k) | 386000 | 347431 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.41%), 3.102%, 2/24/33(k) | 12000 | 11010 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.95%), 6.561%, 10/24/34(k) | 100000 | 111896 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), 5.016%, 10/23/35(k) | 80000 | 80409 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.38%), 5.536%, 1/28/36(k) | 14000 | 14652 |
|  Intercontinental Exchange, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/15/31 | 30000 | 31363 |
|  Jefferies Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 10/15/31 | 100000 | 88956 |
|  Lehman Brothers Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 1/24/13(h) | 5000000 | 1000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/30/16(h) | 10200000 | 1785 |
|  LPL Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/15/30 | 500000 | 510376 |
|  Moody's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 8/19/31 | 100000 | 87712 |
|  Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 7/27/26 | 147000 | 145926 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.88%), 1.593%, 5/4/27(k) | 49000 | 48195 |
| &nbsp;&nbsp;&nbsp;&nbsp; + 1.34%), 3.591%, 7/22/28(k) | 100000 | 98953 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.40%), 3.772%, 1/24/29(k) | 25000 | 24765 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.73%), 5.123%, 2/1/29(k) | 400000 | 408369 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.38%), 4.994%, 4/12/29(k) | 531000 | 541272 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.63%), 5.449%, 7/20/29(k) | 515000 | 531763 |

---

See Notes to Portfolio of Investments.

856

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.83%), 6.407%, 11/1/29(k) | $44000 | $46781 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.45%), 5.173%, 1/16/30(k) | 50000 | 51360 |
| &nbsp;&nbsp;&nbsp;&nbsp; (CME Term SOFR 3 Month + 1.89%), 4.431%, 1/23/30(k) | 150000 | 150798 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.26%), 5.656%, 4/18/30(k) | 65000 | 67894 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.22%), 5.042%, 7/19/30(k) | 637000 | 652525 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.10%), 4.654%, 10/18/30(k) | 200000 | 202009 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.11%), 5.230%, 1/15/31(k) | 115000 | 118697 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.14%), 2.699%, 1/22/31(k) | 367000 | 342585 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.03%), 1.794%, 2/13/32(k) | 541000 | 471374 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.18%), 2.239%, 7/21/32(k) | 230000 | 202939 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.20%), 2.511%, 10/20/32(k) | 75000 | 66802 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.29%), 2.943%, 1/21/33(k) | 75000 | 68509 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.56%), 6.342%, 10/18/33(k) | 95000 | 104443 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.87%), 5.250%, 4/21/34(k) | 145000 | 149212 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.73%), 5.466%, 1/18/35(k) | 150000 | 156031 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.56%), 5.320%, 7/19/35(k) | 400000 | 411997 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.42%), 5.587%, 1/18/36(k) | 65000 | 67969 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.76%), 5.664%, 4/17/36(k) | 55000 | 58016 |
| &nbsp;&nbsp;&nbsp;&nbsp; (EURIBOR 3 Month + 1.55%), 4.099%, 5/22/36(k) | 200000 | 241967 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.36%), 2.484%, 9/16/36(k) | $150000 | 130329 |
|  Nasdaq, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 6/28/28 | 177000 | 182329 |
|  Nomura Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.709%, 1/9/26 | 500000 | 501672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.783%, 7/3/34 | 200000 | 211206 |
|  Northern Trust Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/10/27 | 35000 | 35082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 5/3/29 | 25000 | 24340 |
|  S&P Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 8/15/30 | 25000 | 21795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 9/15/33 | 65000 | 68022 |
|  UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.55%),<br>5.711%, 1/12/27(k)§ | 300000 | 301072 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.60%),<br>6.327%, 12/22/27(k)§ | 400000 | 409934 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.20%),<br>5.959%, 1/12/34(k)§ | 400000 | 428400 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.77%),<br>5.699%, 2/8/35(k)§ | 500000 | 526172 |
|  |  | 16781534 |
|  ***Consumer Finance (1.0%)*** |  |  |
|  AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 10/29/26 | 950000 | 933623 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 9/10/34 | 165000 | 164343 |
|  Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 11/2/28 | 700000 | 649944 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.96%), 5.737%, 5/15/29(k) | 35000 | 35835 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.73%), 5.543%, 1/17/31(k) | 400000 | 407545 |
|  American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.33%), 6.338%, 10/30/26(k) | 400000 | 400634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 5/3/27 | 265000 | 262354 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.93%), 5.043%, 7/26/28(k) | 15000 | 15253 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.22%), 4.918%, 7/20/33(k) | 90000 | 91351 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.32%), 5.442%, 1/30/36(k) | 15000 | 15574 |
|  American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/24/28 | 10000 | 9499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/5/35 | 200000 | 202880 |
|  Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/1/29§ | 400000 | 413428 |
|  Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 2/9/27 | 40000 | 39951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 1/31/28 | 200000 | 198425 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.91%), 5.700%, 2/1/30(k) | 200000 | 207675 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.04%), 6.183%, 1/30/36(k) | 106000 | 109982 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.63%), 5.197%, 9/11/36(k) | 55000 | 54346 |
|  Caterpillar Financial Services Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.100%, 9/14/27 | 50000 | 47463 |
|  Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 3/5/27 | 400000 | 403836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.798%, 11/7/28 | 200000 | 208700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 3/8/29 | 100000 | 101564 |
|  General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 4/6/26 | 60000 | 60286 |

---

See Notes to Portfolio of Investments.

857

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.35%), 5.537%, 5/8/27(k) | $400000 | $402104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 6/23/28 | 100000 | 103517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 4/6/29 | 50000 | 49582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 6/21/30 | 50000 | 47631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 2/8/31 | 30000 | 31236 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 6/18/31 | 30000 | 31023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 9/6/34 | 132000 | 132610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 1/7/35 | 25000 | 25767 |
|  John Deere Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 4/18/29 | 200000 | 195285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 9/8/31 | 55000 | 55310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 6/7/32 | 10000 | 9749 |
|  Kaspi.KZ JSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 3/26/30(m) | 203000 | 208166 |
|  Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 12/1/27 | 52000 | 51401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/19/29 | 105000 | 106303 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.40%), 5.019%, 7/29/29(k) | 65000 | 65364 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 2.13%), 5.935%, 8/2/30(k) | 402000 | 415982 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.68%), 5.450%, 3/6/31(k) | 298000 | 303259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 10/28/31 | 319000 | 282515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 2/2/33 | 66000 | 70431 |
|  Toyota Motor Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 1/11/27 | 100000 | 99058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 1/12/28 | 65000 | 65945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 4/6/28 | 100000 | 95119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 8/9/29 | 400000 | 405343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 3/21/31 | 100000 | 103518 |
|  |  | 8390709 |
|  ***Financial Services (0.5%)*** |  |  |
|  AT&T Reign II Multi-Property Lease-Backed Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.088%, 12/15/44§ | 220000 | 222247 |
|  Block Financial LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 7/15/28 | 10000 | 9481 |
|  Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/1/31 | 190000 | 176700 |
|  Corebridge Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 4/5/32 | 200000 | 190617 |
|  Essent Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7/1/29 | 400000 | 418449 |
|  Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 7/1/29 | 245000 | 237772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 3/15/34 | 400000 | 413202 |
|  Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 8/15/29 | 100000 | 94844 |
|  Lseg US Fin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 3/28/27§ | 400000 | 404048 |
|  Mastercard, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 11/21/26 | 50000 | 49521 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/18/31 | 100000 | 88369 |
|  National Rural Utilities Cooperative Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/15/28 | 15000 | 15273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/15/34 | 200000 | 202852 |
|  Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.91%), 6.557%, 10/18/27(k)§ | 400000 | 408848 |
|  Nexi SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 4/30/29(m) | 400000 | 452009 |
|  NTT Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.171%, 7/16/32§ | $200000 | 204506 |
|  ORIX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 9/10/29 | 50000 | 50519 |
|  PayPal Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 10/1/26 | 100000 | 98773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 6/1/27 | 20000 | 19999 |
|  Shell International Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 9/12/26 | 50000 | 49399 |
|  Visa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 8/15/27 | 45000 | 42619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 4/15/30 | 65000 | 59856 |
|  |  | 3909903 |
|  ***Insurance (0.7%)*** |  |  |
|  American International Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 5/7/35 | 20000 | 20793 |
|  Aon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/15/28 | 25000 | 25247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 8/23/31 | 100000 | 87817 |
|  Aon North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/1/29(x) | 450000 | 462744 |
|  Arthur J Gallagher & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/15/32 | 400000 | 407901 |
|  Assurant, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 1/15/32 | 50000 | 43932 |
|  Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.349%, 7/9/27§ | 400000 | 407264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.322%, 11/13/31§ | 500000 | 511294 |
|  Berkshire Hathaway Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 3/15/27 | 50000 | 49029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 10/15/30 | 40000 | 35447 |
|  Brighthouse Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 6/22/27 | 50000 | 49381 |
|  Brown & Brown, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 3/17/32 | 35000 | 33758 |
|  Chubb INA Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 8/15/35 | 100000 | 100638 |
|  CNA Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 8/15/30 | 20000 | 17837 |
|  Fairfax Financial Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/29/30 | 25000 | 25093 |
|  Globe Life, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 8/15/30 | 50000 | 44909 |
|  Kemper Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 9/30/30 | 25000 | 22094 |
|  Lincoln National Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 3/1/32 | 50000 | 46209 |
|  Markel Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/1/27 | 25000 | 24654 |
|  Marsh & McLennan Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/15/29 | 10000 | 10091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 3/15/30 | 220000 | 223655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 9/15/33 | 100000 | 104906 |

---

See Notes to Portfolio of Investments.

858

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  MassMutual Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.98%), 5.181%, 7/10/26(k)§ | $400000 | $402245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 3/27/28§ | 200000 | 202012 |
|  MetLife, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 3/23/30 | 200000 | 203081 |
|  Mutual of Omaha Cos. Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 4/9/27§ | 400000 | 406710 |
|  Pacific Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 7/18/28§ | 300000 | 310644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/28/29§ | 400000 | 403509 |
|  Pricoa Global Funding I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 8/27/27§ | 400000 | 402550 |
|  Principal Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 5/15/29 | 10000 | 9804 |
|  Protective Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.209%, 4/14/26§ | 300000 | 301567 |
|  Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/15/47 | 70000 | 68958 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.16%), 5.125%, 3/1/52(k) | 200000 | 199750 |
|  Reinsurance Group of America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 5/15/29 | 10000 | 9873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 6/15/30 | 20000 | 18888 |
|  RenaissanceRe Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 4/15/29 | 50000 | 48724 |
|  |  | 5743008 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 82454767 |
|  **Health Care (1.5%)** |  |  |
|  ***Biotechnology (0.2%)*** |  |  |
|  AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/15/27 | 65000 | 65706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/15/29 | 60000 | 61368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 3/15/34 | 75000 | 77098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 3/15/35 | 100000 | 98227 |
|  Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 3/2/28 | 50000 | 51150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 2/21/30 | 200000 | 185290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/2/33 | 195000 | 201696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.770%, 9/1/53 | 12000 | 7254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 2/22/62 | 46000 | 36675 |
|  Regeneron Pharmaceuticals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 9/15/30 | 900000 | 793029 |
|  |  | 1577493 |
|  ***Health Care Equipment & Supplies (0.1%)*** |  |  |
|  Abbott Laboratories |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 11/30/26 | 28000 | 27989 |
|  Baxter International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.915%, 2/1/27 | 100000 | 96964 |
|  Becton Dickinson & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 6/6/27 | 33000 | 32776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.693%, 2/13/28 | 40000 | 40484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.823%, 5/20/30 | 35000 | 32797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.669%, 6/6/47 | 12000 | 10559 |
|  GE HealthCare Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/15/35 | 50000 | 51891 |
|  Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 3/1/29 | 34000 | 35094 |
|  Stryker Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 6/15/30(x) | 200000 | 180925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 9/11/32 | 100000 | 118417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/11/36 | 200000 | 232920 |
|  Zimmer Biomet Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/19/35 | $25000 | 25971 |
|  |  | 886787 |
|  ***Health Care Providers & Services (0.8%)*** |  |  |
|  Cardinal Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.410%, 6/15/27 | 75000 | 74153 |
|  Cencora, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 12/15/27 | 50000 | 49271 |
|  Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/15/29 | 700000 | 679343 |
|  Cigna Group (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/15/28 | 340000 | 341817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/15/29 | 450000 | 461568 |
|  CommonSpirit Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.318%, 12/1/34 | 600000 | 610035 |
|  CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.300%, 8/21/27 | 65000 | 61597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 3/25/28 | 55000 | 55026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/30/29 | 20000 | 20395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 8/15/29 | 200000 | 191494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 7/20/45 | 54000 | 49005 |
|  Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 12/1/27 | 200000 | 198430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 3/15/51 | 118000 | 84397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 6/15/54 | 34000 | 33372 |
|  HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/15/27 | 20000 | 20030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 3/15/27 | 455000 | 448535 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 6/1/28(x) | 92000 | 94112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 6/15/29 | 208000 | 205842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 4/1/31 | 431000 | 448082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 7/15/31 | 100000 | 88472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 3/15/32 | 200000 | 187443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/1/35 | 204000 | 213189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 7/15/51 | 97000 | 66383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 6/1/53 | 10000 | 9849 |
|  Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.350%, 2/3/27 | 25000 | 24067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 3/23/29 | 20000 | 19534 |
|  McKesson Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 7/15/33 | 150000 | 155533 |
|  Quest Diagnostics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/15/29 | 400000 | 406171 |
|  UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 1/15/27 | 50000 | 49680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 10/15/27 | 100000 | 98001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 2/15/28 | 35000 | 35954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/15/29 | 600000 | 601929 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 4/15/29 | 30000 | 30536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 6/15/35 | 65000 | 67297 |
|  Universal Health Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 10/15/34 | 35000 | 34117 |
|  |  | 6214659 |

---

See Notes to Portfolio of Investments.

859

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |  |
|  ***Life Sciences Tools & Services (0.0%)†*** | ***Life Sciences Tools & Services (0.0%)†*** | ***Life Sciences Tools & Services (0.0%)†*** | **** |
|  Agilent Technologies, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 3/12/31 | $11000 | $9867 |  |
|  Revvity, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 9/15/29 | 15000 | 14344 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 9/15/31 | 35000 | 30367 |  |
|  Thermo Fisher Scientific, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 11/21/27 | 20000 | 20348 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 10/15/28 | 35000 | 32764 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.794%, 10/7/35 | 70000 | 70033 |  |
|  |  | 177723 |  |
|  ***Pharmaceuticals (0.4%)*** |  |  |  |
|  Astrazeneca Finance LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 2/26/29 | 65000 | 66681 |  |
|  AstraZeneca plc |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 6/12/27 | 75000 | 74100 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 8/6/30 | 200000 | 175770 |  |
|  Bayer US Finance II LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/15/25§ | 600000 | 599279 |  |
|  Bayer US Finance LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 11/21/26§ | 300000 | 305057 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 11/21/33§ | 100000 | 107538 |  |
|  Bristol-Myers Squibb Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 2/20/28 | 50000 | 49997 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 2/22/29 | 45000 | 46187 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 7/26/29 | 62000 | 60453 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 2/1/31 | 100000 | 106844 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 2/22/34 | 100000 | 103538 |  |
|  Eli Lilly & Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 3/15/29 | 13000 | 12769 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 2/9/34 | 100000 | 100898 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 8/14/34 | 70000 | 70239 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 2/12/35 | 50000 | 51708 |  |
|  Johnson & Johnson |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/1/35 | 100000 | 103677 |  |
|  Merck & Co., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 3/7/29 | 100000 | 97871 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 9/15/35 | 65000 | 65437 |  |
|  Novartis Capital Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 9/18/34 | 50000 | 48881 |  |
|  Pfizer Investment Enterprises Pte. Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 5/19/28 | 200000 | 202299 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/19/33 | 190000 | 191608 |  |
|  Pfizer, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 9/15/28 | 25000 | 24833 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 8/18/31 | 108000 | 94440 |  |
|  Roche Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.790%, 3/8/29§ | 400000 | 408402 |  |
|  Sanofi SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 6/19/28 | 25000 | 24848 |  |
|  Takeda Pharmaceutical Co. Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 3/31/30 | 200000 | 181719 |  |
|  Viatris, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 6/22/30 | 200000 | 179981 |  |
|  Zoetis, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/12/27 | 50000 | 49085 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 5/15/30 | 50000 | 45478 |  |
|  |  | 3649617 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | 12506279 |  |
|  **Industrials (1.3%)** |  |  |  |
|  ***Aerospace & Defense (0.7%)*** |  |  |  |
|  Boeing Co. (The) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.196%, 2/4/26 | 400000 | 396952 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 2/1/27 | 475000 | 465418 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.040%, 5/1/27 | 100000 | 101063 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 11/1/28(x) | 425000 | 414465 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 5/1/30 | 100000 | 102711 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.930%, 5/1/60 | 315000 | 313970 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.008%, 5/1/64 | 65000 | 74853 |  |
|  Embraer Netherlands Finance BV |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.980%, 2/11/35 | 175000 | 184560 |  |
|  General Dynamics Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 4/1/30 | 200000 | 196036 |  |
|  HEICO Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 8/1/28 | 300000 | 307928 |  |
|  Howmet Aerospace, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 10/15/31 | 400000 | 409861 |  |
|  Huntington Ingalls Industries, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.043%, 8/16/28 | 700000 | 656945 |  |
|  L3Harris Technologies, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 6/1/31 | 136000 | 141656 |  |
|  Lockheed Martin Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 5/15/28 | 35000 | 35409 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/15/34 | 100000 | 100899 |  |
|  Northrop Grumman Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.030%, 10/15/47 | 45000 | 36750 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 3/15/53 | 147000 | 134215 |  |
|  Rolls-Royce plc |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/15/27§ | 500000 | 512987 |  |
|  RTX Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 5/4/27 | 100000 | 98555 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/16/28 | 200000 | 200074 |  |
|  Spirit AeroSystems, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 6/15/28 | 500000 | 498800 |  |
|  Textron, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/1/30 | 22000 | 20704 |  |
|  |  | 5404811 |  |
|  ***Air Freight & Logistics (0.1%)*** |  |  |  |
|  GXO Logistics, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 5/6/29 | 400000 | 419730 |  |
|  United Parcel Service, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 11/15/26 | 50000 | 49151 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 5/22/34 | 40000 | 41500 |  |
|  |  | 510381 |  |
|  ***Building Products (0.1%)*** |  |  |  |
|  Carrier Global Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.722%, 2/15/30 | 250000 | 234136 |  |
|  CRH America Finance, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1/9/35 | 50000 | 52201 |  |
|  Fortune Brands Innovations, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 9/15/29 | 50000 | 47810 |  |
|  Johnson Controls International plc |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 9/16/31 | 30000 | 26085 |  |
|  Masco Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/1/30 | 25000 | 22357 |  |
|  Owens Corning |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 8/15/29 | 100000 | 98731 |  |
|  |  | 481320 |  |
|  ***Commercial Services & Supplies (0.0%)†*** |  |  |  |
|  Cintas Corp. No. 2 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 4/1/27 | 100000 | 99582 |  |
|  RELX Capital, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/20/32 | 20000 | 20346 |  |
|  Republic Services, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 11/15/27 | 15000 | 14830 |  |

---

See Notes to Portfolio of Investments.

860

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Waste Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 11/15/27 | $50000 | $49152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 4/15/32 | 50000 | 49362 |
|  |  | 233272 |
|  ***Electrical Equipment (0.0%)†*** |  |  |
|  Emerson Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 10/15/27 | 25000 | 23990 |
|  Regal Rexnord Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 4/15/33 | 125000 | 134301 |
|  |  | 158291 |
|  ***Ground Transportation (0.1%)*** |  |  |
|  Canadian National Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 9/18/34 | 20000 | 19506 |
|  Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 3/5/30 | 20000 | 18233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 3/30/35(x) | 100000 | 103108 |
|  Norfolk Southern Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 8/1/28 | 25000 | 24879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 5/15/31 | 25000 | 22572 |
|  Penske Truck Leasing Co. LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 3/30/29§ | 400000 | 411324 |
|  Ryder System, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 9/1/29 | 100000 | 102274 |
|  Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 9/15/35 | 15000 | 14822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 9/15/54 | 23000 | 22261 |
|  Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/20/31 | 10000 | 9106 |
|  |  | 748085 |
|  ***Industrial Conglomerates (0.0%)†*** |  |  |
|  3M Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 10/15/27 | 75000 | 73435 |
|  Honeywell International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 9/1/29 | 150000 | 154245 |
|  |  | 227680 |
|  ***Machinery (0.1%)*** |  |  |
|  Caterpillar, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 5/15/35 | 100000 | 103404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 4/9/50 | 35000 | 25170 |
|  CNH Industrial Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/8/27 | 147000 | 147951 |
|  Cummins, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 5/9/35 | 50000 | 51647 |
|  Daimler Truck Finance |  |  |
|  North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/15/27§ | 400000 | 404149 |
|  Illinois Tool Works, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 11/15/26 | 50000 | 49324 |
|  Ingersoll Rand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 8/14/33 | 250000 | 264936 |
|  Parker-Hannifin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 3/1/27 | 100000 | 98932 |
|  Westinghouse Air Brake Technologies Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.611%, 3/11/34 | 15000 | 15748 |
|  |  | 1161261 |
|  ***Passenger Airlines (0.0%)†*** |  |  |
|  Southwest Airlines Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 6/15/27 | 50000 | 50608 |
|  ***Professional Services (0.1%)*** |  |  |
|  Automatic Data Processing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.700%, 5/15/28 | 20000 | 18942 |
|  Broadridge Financial Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 5/1/31 | 100000 | 90453 |
|  Equifax, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 6/1/28 | 100000 | 102152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 9/15/29 | 400000 | 406355 |
|  Verisk Analytics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/15/29 | 25000 | 24964 |
|  |  | 642866 |
|  ***Trading Companies & Distributors (0.1%)*** |  |  |
|  Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 2/1/28 | 100000 | 101775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/1/30 | 50000 | 46570 |
|  Aviation Capital Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/1/27§ | 700000 | 687025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 7/15/29§ | 200000 | 204739 |
|  |  | 1040109 |
|  ***Transportation Infrastructure (0.0%)†*** |  |  |
|  DP World Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.850%, 7/2/37(m) | 180000 | 206743 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 10865427 |
|  **Information Technology (1.8%)** |  |  |
|  ***Communications Equipment (0.1%)*** |  |  |
|  Cisco Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 2/26/29 | 25000 | 25654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 2/26/34 | 100000 | 103471 |
|  Juniper Networks, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/10/30 | 8000 | 7009 |
|  Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 2/23/28 | 50000 | 50509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 5/24/31 | 60000 | 54798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 8/15/35 | 237000 | 246525 |
|  |  | 487966 |
|  ***Electronic Equipment, Instruments & Components (0.1%)*** |  |  |
|  Allegion US Holding Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 10/1/27 | 50000 | 49326 |
|  Amphenol Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 9/15/31 | 60000 | 53237 |
|  Arrow Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 8/21/29 | 400000 | 409416 |
|  CDW LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.670%, 12/1/26 | 70000 | 68666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 3/1/30 | 400000 | 407302 |
|  Jabil, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 1/12/28 | 100000 | 99283 |
|  Keysight Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 4/6/27 | 75000 | 75342 |
|  |  | 1162572 |
|  ***IT Services (0.1%)*** |  |  |
|  Booz Allen Hamilton, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 8/4/33(x) | 10000 | 10486 |
|  Gartner, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 10/1/30§ | 497000 | 469554 |
|  IBM International Capital Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 2/5/34 | 100000 | 101158 |

---

See Notes to Portfolio of Investments.

861

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  International Business Machines Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/15/29 | $200000 | $195917 |
|  |  | 777115 |
|  ***Semiconductors & Semiconductor Equipment (0.7%)*** |  |  |
|  Analog Devices, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 6/15/27 | 25000 | 24805 |
|  Applied Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 6/1/30 | 30000 | 26961 |
|  Broadcom Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 1/15/27 | 100000 | 99889 |
|  Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.110%, 9/15/28(x) | 106000 | 106354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 4/15/29 | 100000 | 102038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 7/12/29 | 220000 | 226472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 10/15/30 | 35000 | 34916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 11/15/31 | 296000 | 306765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 2/15/32 | 51000 | 51270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 4/15/32 | 76000 | 79066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 11/15/32 | 90000 | 88881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.419%, 4/15/33§ | 273000 | 252449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 10/15/34 | 83000 | 83499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.137%, 11/15/35§ | 234000 | 202430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.187%, 11/15/36§ | 400000 | 341728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.926%, 5/15/37§ | 654000 | 652246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 2/15/38 | 85000 | 84596 |
|  Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 1/25/32§ | 400000 | 427577 |
|  Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/5/27 | 100000 | 99258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 11/15/29 | 20000 | 18563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 2/10/30 | 400000 | 411143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 8/5/32 | 100000 | 96433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 2/10/33(x) | 200000 | 204213 |
|  Lam Research Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/15/29 | 30000 | 29952 |
|  Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 4/15/28 | 100000 | 102996 |
|  NVIDIA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 6/15/31 | 50000 | 44942 |
|  NXP BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/18/26 | 700000 | 697753 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 6/1/27 | 40000 | 40093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/11/31 | 95000 | 85224 |
|  QUALCOMM, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 5/20/27 | 75000 | 74372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 5/20/30 | 100000 | 91801 |
|  Texas Instruments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 9/4/29 | 30000 | 28089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 3/14/33 | 50000 | 51481 |
|  |  | 5268255 |
|  ***Software (0.7%)*** |  |  |
|  Adobe, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 1/17/35 | 100000 | 105387 |
|  AppLovin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 12/1/29 | 467000 | 476943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/1/31 | 630000 | 650714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/1/34 | 150000 | 154913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 12/1/54 | 151000 | 152324 |
|  Microsoft Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 2/6/27 | 100000 | 99385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 6/15/27 | 10000 | 9957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.350%, 9/15/30 | 35000 | 31004 |
|  Open Text Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.900%, 12/1/27§ | 700000 | 729043 |
|  Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 3/25/28 | 70000 | 66877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/6/28 | 35000 | 35225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 9/27/29 | 400000 | 398836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 11/9/29 | 300000 | 319518 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 9/26/30 | 500000 | 498859 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 3/25/31 | 250000 | 229804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 9/27/34 | 50000 | 48797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/3/35 | 100000 | 102450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 9/26/35 | 45000 | 45203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/15/55 | 314000 | 245885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 9/26/55 | 65000 | 64627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 3/25/61 | 11000 | 7880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/27/64 | 147000 | 134754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 8/3/65 | 10000 | 10052 |
|  Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 12/15/26 | 30000 | 29887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 2/15/31 | 200000 | 174389 |
|  Salesforce, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 7/15/28 | 35000 | 32843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 7/15/31 | 40000 | 35531 |
|  Synopsys, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/1/32 | 500000 | 511345 |
|  VMware LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 8/21/27 | 100000 | 99637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 8/15/28 | 25000 | 23436 |
|  |  | 5525505 |
|  ***Technology Hardware, Storage & Peripherals (0.1%)*** |  |  |
|  Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 2/9/27 | 50000 | 49710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 9/12/27 | 150000 | 147653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 5/11/30 | 90000 | 81244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 2/8/31 | 100000 | 88641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/12/35 | 50000 | 51079 |
|  Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 2/15/29 | 60000 | 59883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/15/31 | 204000 | 203623 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/1/35 | 100000 | 103305 |
|  Hewlett Packard Enterprise Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 7/1/28 | 50000 | 51398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 10/15/30 | 100000 | 99442 |
|  HP, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 4/25/35 | 35000 | 37102 |
|  Western Digital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 2/1/29 | 30000 | 28200 |
|  |  | 1001280 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 14222693 |
|  **Materials (0.5%)** |  |  |
|  ***Chemicals (0.2%)*** |  |  |
|  Air Products and Chemicals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 2/8/29 | 50000 | 50894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 3/3/33 | 50000 | 50924 |
|  Brenntag Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 10/2/31(m) | 100000 | 116926 |
|  Dow Chemical Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 2/15/34(x) | $100000 | 100088 |
|  Ecolab, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 2/1/27 | 100000 | 97014 |
|  Kraton Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/15/27§ | 400000 | 406000 |
|  LYB International Finance III LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 5/15/33 | 200000 | 205445 |

---

See Notes to Portfolio of Investments.

862

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value**<br>**(Note 1)** |
|  Orbia Advance Corp. SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.800%, 5/13/30§ | $201000 | $208991 |
|  PPG Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 8/15/29 | 100000 | 95179 |
|  RPM International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 3/1/29 | 25000 | 25176 |
|  Sherwin-Williams Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 6/1/27 | 75000 | 74302 |
|  Westlake Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 6/15/30(x) | 30000 | 28570 |
|  |  | 1459509 |
|  ***Construction Materials (0.0%)†*** |  |  |
|  Martin Marietta Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.400%, 7/15/31 | 25000 | 22338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series CB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/15/30 | 35000 | 32541 |
|  |  | 54879 |
|  ***Containers & Packaging (0.1%)*** |  |  |
|  Amcor Finance USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 5/26/33 | 15000 | 15634 |
|  Amcor Flexibles North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.690%, 5/25/31 | 35000 | 31818 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/17/35 | 20000 | 20556 |
|  Avery Dennison Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 3/15/33 | 50000 | 52848 |
|  Berry Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 1/15/27 | 11000 | 10654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 6/15/31 | 110000 | 116387 |
|  Packaging Corp. of America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 12/15/27 | 35000 | 34465 |
|  Sonoco Products Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/1/34 | 30000 | 29680 |
|  WRKCo., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/15/28 | 50000 | 49733 |
|  |  | 361775 |
|  ***Metals & Mining (0.2%)*** |  |  |
|  Corp. Nacional del Cobre de Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.440%, 1/26/36(m)(x) | 200000 | 216200 |
|  Freeport-McMoRan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 8/1/30 | 200000 | 198826 |
|  Glencore Capital Finance DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.668%, 10/6/32(m) | 100000 | 117076 |
|  Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.186%, 4/1/30§ | $108000 | 111159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 4/27/31§ | 99000 | 90659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 9/23/31§ | 11000 | 9876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/6/33§ | 9000 | 9911 |
|  Kinross Gold Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7/15/33 | 100000 | 109040 |
|  Nucor Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 5/23/27 | 50000 | 50186 |
|  Reliance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 8/15/30 | 600000 | 538177 |
|  Rio Tinto Finance USA plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/14/35 | 35000 | 36057 |
|  Vale Overseas Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 7/8/30 | 100000 | 96300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 6/12/33 | 100000 | 106810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 6/28/54 | 208000 | 213258 |
|  |  | 1903535 |
|  ***Paper & Forest Products (0.0%)†*** |  |  |
|  Suzano Austria GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 1/15/31 | 100000 | 94465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 1/15/32 | 200000 | 179480 |
|  |  | 273945 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | 4053643 |
|  **Real Estate (0.7%)** |  |  |
|  ***Diversified REITs (0.0%)†*** |  |  |
|  Digital Realty Trust LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 1/15/28 | 50000 | 51449 |
|  GLP Capital LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 6/1/28 | 10000 | 10269 |
|  Simon Property Group LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 1/15/27 | 100000 | 96696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 6/15/27 | 75000 | 74268 |
|  WP Carey, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 7/15/29 | 50000 | 49219 |
|  |  | 281901 |
|  ***Health Care REITs (0.0%)†*** |  |  |
|  Healthpeak OP LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 12/1/28 | 65000 | 60853 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/15/32 | 10000 | 10285 |
|  Sabra Health Care LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 10/15/29 | 25000 | 24245 |
|  Welltower OP LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.050%, 1/15/29 | 30000 | 28072 |
|  |  | 123455 |
|  ***Industrial REITs (0.1%)*** |  |  |
|  Goodman US Finance Six LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 10/7/34§ | 400000 | 403078 |
|  Prologis LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 1/15/32 | 50000 | 43981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 1/15/33 | 100000 | 100291 |
|  |  | 547350 |
|  ***Office REITs (0.1%)*** |  |  |
|  Boston Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 10/1/26 | 50000 | 49205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 4/1/32 | 100000 | 86395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 1/15/34 | 100000 | 107840 |
|  Brandywine Operating Partnership LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 11/15/27 | 300000 | 293349 |
|  COPT Defense Properties LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 3/15/26 | 600000 | 593101 |
|  Piedmont Operating Partnership LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 8/15/30 | 25000 | 22657 |
|  |  | 1152547 |
|  ***Real Estate Management & Development (0.1%)*** |  |  |
|  CBRE Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/1/29 | 400000 | 414731 |
|  ***Residential REITs (0.1%)*** |  |  |
|  American Homes 4 Rent LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 4/15/32 | 35000 | 32797 |

---

See Notes to Portfolio of Investments.

863

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  AvalonBay Communities, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 12/1/28 | $50000 | $46736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 6/1/29 | 15000 | 14545 |
|  Camden Property Trust (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 10/15/28 | 10000 | 10016 |
|  Essex Portfolio LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/1/29 | 25000 | 24771 |
|  Invitation Homes Operating Partnership LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 11/15/28 | 15000 | 14168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/15/33 | 200000 | 207607 |
|  Mid-America Apartments LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 3/15/29 | 50000 | 49569 |
|  Store Capital LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 12/1/31 | 50000 | 43644 |
|  UDR, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/15/28 | 100000 | 98395 |
|  |  | 542248 |
|  ***Retail REITs (0.0%)†*** |  |  |
|  Agree LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 6/15/28 | 15000 | 14153 |
|  Kimco Realty OP LLC (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 3/1/28 | 50000 | 47558 |
|  Realty Income Corp. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 3/15/28 | 50000 | 47718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 3/15/30 | 30000 | 30728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 10/13/32 | 100000 | 105883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 7/15/33 | 100000 | 101405 |
|  Regency Centers LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 9/15/29 | 25000 | 23835 |
|  |  | 371280 |
|  ***Specialized REITs (0.3%)*** |  |  |
|  American Tower Corp. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 11/15/28 | 300000 | 313547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 9/15/31 | 20000 | 17675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.650%, 3/15/33 | 200000 | 210683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 3/15/35 | 50000 | 51312 |
|  Crown Castle, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 6/15/26 | 500000 | 497811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 3/15/27 | 30000 | 29425 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 9/1/27 | 50000 | 49491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/11/28 | 55000 | 55716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 4/1/31 | 300000 | 262714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 7/15/31 | 100000 | 89074 |
|  EPR Properties (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 11/15/31 | 700000 | 646041 |
|  Equinix, Inc. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 7/15/27 | 20000 | 19200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 11/18/29 | 25000 | 23923 |
|  Extra Space Storage LP (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/15/27 | 25000 | 24814 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 7/1/30 | 100000 | 104266 |
|  Public Storage Operating Co. (REIT) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 1/15/29 | 100000 | 103256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.385%, 5/1/29 | 15000 | 14650 |
|  |  | 2513598 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 5947110 |
|  **Utilities (4.0%)** |  |  |
|  ***Electric Utilities (3.3%)*** |  |  |
|  AEP Texas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 5/15/32 | 234000 | 233909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 5/15/34 | 75000 | 78085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 7/1/30 | 119000 | 107426 |
|  AEP Transmission Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 6/15/35 | 51000 | 52710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 9/15/49 | 173000 | 117781 |
|  Alabama Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 5/15/38 | 22000 | 24044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 3/1/45 | 42000 | 33402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 1/2/46 | 12000 | 10305 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 20-A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 9/15/30 | 50000 | 43781 |
|  American Electric Power Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 11/13/27 | 25000 | 24508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 1/15/29 | 65000 | 66966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 3/1/30 | 25000 | 22884 |
|  Appalachian Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series AA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.700%, 4/1/31 | 700000 | 636971 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series Y |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 3/1/49 | 7000 | 5825 |
|  Baltimore Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/15/47 | 46000 | 35657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 9/15/49 | 14000 | 9666 |
|  CenterPoint Energy Houston Electric LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 3/1/35 | 6000 | 6056 |
|  Dominion Energy South Carolina, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 1/15/35 | 55000 | 56809 |
|  DTE Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 4/1/28 | 65000 | 61811 |
|  Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.450%, 8/15/29 | 25000 | 23502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 4/15/31(x) | 50000 | 45796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 12/1/47 | 151000 | 115058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 3/15/48 | 27000 | 21507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 8/15/49 | 79000 | 54909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 4/15/51 | 217000 | 156065 |
|  Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 6/15/29 | 30000 | 29133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 6/15/31 | 25000 | 22582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 8/15/47 | 39000 | 30181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/15/51 | 29000 | 20499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/15/52 | 151000 | 135360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 6/15/54 | 414000 | 416139 |
|  Duke Energy Florida LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 6/15/30 | 70000 | 62661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 10/1/46 | 14000 | 10344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/15/51 | 54000 | 35141 |
|  Duke Energy Ohio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 6/1/30 | 388000 | 353574 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 3/15/54 | 22000 | 21869 |
|  Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 3/15/29 | 70000 | 68481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 3/15/35 | 45000 | 45676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 10/15/46 | 161000 | 124880 |

---

See Notes to Portfolio of Investments.

864

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 8/15/50 | $333000 | $199357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 3/15/53 | 169000 | 163520 |
|  Edison International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 11/15/29 | 600000 | 636581 |
|  Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 7/12/31(e)§ | 600000 | 535809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/15/32§ | 600000 | 609725 |
|  Entergy Louisiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 3/15/34 | 100000 | 103313 |
|  EPH Financing International A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.651%, 11/13/28(m) | 400000 | 509603 |
|  Eversource Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1/1/34 | $100000 | 102955 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series M |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 1/15/28 | 150000 | 146754 |
|  Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 4/15/30 | 200000 | 197631 |
|  FirstEnergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 3/1/30 | 2207000 | 2052145 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 7/15/27(e) | 1057000 | 1050819 |
|  FirstEnergy Pennsylvania Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 3/15/28§ | 500000 | 487870 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 4/1/28§ | 200000 | 204721 |
|  FirstEnergy Transmission LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1/15/33§ | 157000 | 156460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/15/35 | 488000 | 488466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 4/1/49§ | 278000 | 237460 |
|  Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 4/1/28 | 300000 | 307816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 5/15/33 | 100000 | 101576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 10/1/49 | 120000 | 83142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 12/4/51 | 84000 | 54265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 3/15/65 | 40000 | 41747 |
|  Fortis, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.055%, 10/4/26 | 75000 | 74182 |
|  Georgia Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.004%, 2/23/27 | 400000 | 405894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 3/15/31 | 54000 | 55297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 5/15/32 | 413000 | 417852 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 3/15/51 | 12000 | 8322 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 1/30/50 | 128000 | 97107 |
|  Indiana Michigan Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 5/15/28 | 25000 | 24851 |
|  IPALCO Enterprises, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/1/30 | 600000 | 586787 |
|  ITC Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 11/15/27 | 25000 | 24562 |
|  Jersey Central Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 1/15/31§ | 100000 | 99738 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series WI\* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 1/15/35 | 32000 | 32495 |
|  Johnsonville Aeroderivative Combustion Turbine Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.078%, 10/1/54 | 4969 | 4770 |
|  MidAmerican Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 4/15/29 | 100000 | 98595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 4/15/50 | 80000 | 54745 |
|  Minejesa Capital BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 8/10/37(m) | 216000 | 214704 |
|  MVM Energetika Zrt. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 3/13/31(m) | 200000 | 212000 |
|  NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 5/1/27 | 25000 | 24791 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 7/15/27 | 100000 | 100869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.685%, 9/1/27 | 70000 | 70770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 11/1/29 | 600000 | 566790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/15/34 | 100000 | 102661 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.46%),<br> 6.750%, 6/15/54(k) | 100000 | 107375 |
|  NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 6/15/29§ | 132000 | 130837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 3/15/33(x)§ | 591000 | 652935 |
|  Ohio Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 12/15/29§ | 13000 | 13304 |
|  Ohio Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series P |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 4/1/30 | 124000 | 114977 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series Q |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 1/15/31 | 312000 | 269871 |
|  Oklahoma Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 4/1/30 | 200000 | 192362 |
|  Oncor Electric Delivery Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 11/15/28 | 25000 | 24701 |
|  Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 1/1/26 | 150000 | 149493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 3/1/26 | 500000 | 496277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 5/15/29 | 270000 | 278654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/1/31 | 900000 | 826361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 6/15/33 | 879000 | 942583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/40 | 35000 | 30383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/15/42(e) | 13000 | 9860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/15/44 | 41000 | 34952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 7/1/50 | 191000 | 164926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 8/1/50 | 673000 | 458996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/1/52 | 12000 | 10603 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 1/15/53 | 161000 | 173833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 10/1/54 | 43000 | 41599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 3/1/55 | 76000 | 76385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.100%, 10/15/55 | 75000 | 74895 |
|  PacifiCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 2/15/29 | 400000 | 410327 |
|  PECO Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 3/15/51 | 65000 | 42869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 9/15/51 | 88000 | 56487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 9/15/54 | 47000 | 45293 |
|  Pinnacle West Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 5/15/30 | 429000 | 441211 |
|  PPL Capital Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 9/1/34 | 6000 | 6119 |
|  Public Service Electric & Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 5/15/29 | 100000 | 96952 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series Q |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 3/1/35 | 45000 | 45940 |

---

See Notes to Portfolio of Investments.

865

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 3/1/28 | $600000 | $610372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 8/1/29 | 40000 | 37457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 6/1/30 | 33000 | 29595 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series G |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 6/1/31 | 50000 | 44237 |
|  Southern Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.113%, 8/1/27(e) | 100000 | 101695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 10/15/32 | 415000 | 438942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 4/30/30 | 600000 | 584430 |
|  Swepco Storm Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.880%, 9/1/39 | 386760 | 388788 |
|  System Energy Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.300%, 12/15/34 | 444000 | 445403 |
|  Union Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 3/15/30 | 250000 | 236930 |
|  Virginia Electric and Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 11/15/31 | 100000 | 88585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 8/15/34 | 40000 | 40485 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 9/15/35 | 100000 | 99549 |
|  Virginia Power Fuel Securitization LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series A-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.088%, 5/1/27 | 267458 | 268461 |
|  Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/15/34§ | 474000 | 498303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 12/30/34§ | 590000 | 610541 |
|  Wisconsin Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 10/15/27 | 75000 | 73416 |
|  Xcel Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 8/15/33 | 250000 | 258502 |
|  |  | 26448521 |
|  ***Gas Utilities (0.2%)*** |  |  |
|  Atmos Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 10/15/32 | 30000 | 31588 |
|  CenterPoint Energy Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 3/1/28 | 50000 | 51311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 7/1/32 | 15000 | 14779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 7/1/34 | 50000 | 51488 |
|  National Fuel Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 9/15/27 | 50000 | 49674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 3/1/31 | 700000 | 639238 |
|  ONE Gas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 4/1/29 | 25000 | 25779 |
|  Piedmont Natural Gas Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/15/31 | 91000 | 82281 |
|  Southern California Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 4/15/27 | 700000 | 689026 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series XX |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 2/1/30 | 200000 | 186516 |
|  |  | 1821680 |
|  ***Independent Power and Renewable Electricity Producers (0.1%)*** |  |  |
|  AES Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 6/1/28 | 100000 | 101994 |
|  Constellation Energy Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 3/1/28 | 330000 | 340974 |
|  |  | 442968 |
|  ***Multi-Utilities (0.4%)*** |  |  |
|  Abu Dhabi National Energy Co. PJSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/9/31§ | 400000 | 400752 |
|  Ameren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/15/29 | 400000 | 408877 |
|  Consolidated Edison Co. of New York, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 11/15/27 | 25000 | 24558 |
|  Consumers Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 3/1/28 | 50000 | 50682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 5/15/35 | 92000 | 93605 |
|  Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 3/15/35 | 8000 | 8204 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.51%), 7.000%, 6/1/54(k) | 57000 | 61845 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/15/31 | 45000 | 39803 |
|  DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 3/1/29 | 400000 | 410360 |
|  National Grid plc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.602%, 6/12/28 | 300000 | 310217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.418%, 1/11/34 | 100000 | 103563 |
|  NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.490%, 5/15/27 | 12000 | 11877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.400%, 6/30/33 | 7000 | 7237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 4/1/34 | 100000 | 102715 |
|  Public Service Enterprise Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 4/1/29 | 400000 | 412622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 10/15/33 | 200000 | 215767 |
|  San Diego Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series RRR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 6/1/47 | 9000 | 6911 |
|  WEC Energy Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 10/15/27 | 500000 | 473793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 12/15/28 | 100000 | 94280 |
|  |  | 3237668 |
|  ***Water Utilities (0.0%)†*** |  |  |
|  American Water Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 6/1/31 | 100000 | 89554 |
|  Essential Utilities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.704%, 4/15/30 | 200000 | 186022 |
|  |  | 275576 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 32226413 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  | 215291007 |
|  **Foreign Government Securities (2.0%)** |  |  |
|  Bonos de la Tesoreria |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 8/12/32 | 1200000 | 365542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.300%, 8/12/33(m) | 200000 | 64254 |
|  Canada Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/18/30 | $100000 | 100977 |

---

See Notes to Portfolio of Investments.

866

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Commonwealth of Australia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 6/21/35(m) | 800000 | $464640 |
|  Export Development Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 2/14/28 | $150000 | 150650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/5/34 | 60000 | 62482 |
|  Export-Import Bank of Korea |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 9/22/30 | 200000 | 197968 |
|  Federative Republic of Brazil |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 3/15/34 | 400000 | 408200 |
|  Japan Bank for International Cooperation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 11/4/26 | 50000 | 49126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/31/28 | 200000 | 198068 |
|  Japan Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/20/44 | 100000000 | 619104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 12/20/54 | 70000000 | 403209 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 6/20/55 | 40000000 | 255962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 3/20/64 | 44000000 | 227727 |
|  Japan International Cooperation Agency |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 4/27/27 | $600000 | 588045 |
|  Kingdom of Saudi Arabia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 3/4/28(m) | 500000 | 493580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 1/16/30§ | 400000 | 408252 |
|  Oriental Republic of Uruguay |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/27/27 | 112363 | 113149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 6/18/50 | 77594 | 73637 |
|  Province of Alberta |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.300%, 7/22/30 | 250000 | 220533 |
|  Province of British Columbia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 8/27/30 | 60000 | 59945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 7/6/33 | 150000 | 149147 |
|  Province of Manitoba |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 5/31/34 | 60000 | 61460 |
|  Province of Ontario |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 5/19/27 | 250000 | 245965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 10/14/31 | 100000 | 88087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 4/24/34 | 100000 | 104695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 12/2/34 | 300000 | 218264 |
|  Province of Quebec |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 4/12/27 | $50000 | 49146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 4/13/28 | 100000 | 99506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/3/29 | 250000 | 254378 |
|  Republic of Indonesia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 2/14/30 | 200000 | 189000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 1/15/35(x) | 100000 | 105925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 3/12/51 | 200000 | 134100 |
|  Republic of Korea |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 10/15/31 | 200000 | 176584 |
|  Republic of Panama |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.298%, 1/19/33 | 200000 | 172400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/1/56 | 200000 | 146800 |
|  Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.783%, 1/23/31 | 70000 | 64558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 8/12/31(m) | 641000 | 204269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.150%, 8/12/32§ | 1300000 | 396666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 1/15/34 | $200000 | 174000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.850%, 8/12/35(m) | 474000 | 144256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.600%, 8/12/39(m) | 382000 | 120414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 3/10/51 | $117000 | 83567 |
|  Republic of Philippines |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.457%, 5/5/30 | 200000 | 186000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 5/14/34 | 100000 | 104800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 7/6/46 | 200000 | 146175 |
|  Republic of Poland |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/16/27 | 25000 | 25821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 3/18/29 | 200000 | 203670 |
|  Republic of Serbia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 9/23/28§ | 700000 | 765104 |
|  Republic of South Africa |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.100%, 11/19/36§ | $400000 | 417200 |
|  Romania Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 4/14/33(m) | 800000 | 734472 |
|  State of Israel Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/12/34 | $400000 | 410750 |
|  State of Kuwait |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.016%, 10/9/28§ | 200000 | 200000 |
|  State of Qatar |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.103%, 4/23/48§ | 500000 | 495950 |
|  Titulos de Tesoreria |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 7/9/36 | 2250300000 | 395823 |
|  U.K. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 7/31/54(m) | 855000 | 962320 |
|  United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 1/11/28 | $200000 | 197900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/7/29 | 200000 | 204200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 4/16/30 | 200000 | 188800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/12/34 | 254000 | 220980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.350%, 2/9/35 | 159000 | 168142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 5/13/37 | 938000 | 1012571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/31/50 | 400000 | 309000 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Foreign Government Securities** |  | 16257915 |
|  **Mortgage-Backed Securities (26.8%)** |  |  |
|  FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/1/27 | 1658 | 1637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.170%, 4/1/28 | 300000 | 301505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.380%, 5/1/28 | 800000 | 802778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/1/28 | 1130 | 1114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 1/1/29 | 4177 | 4110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 1/1/30 | 5206 | 5119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/1/30 | 5181 | 5051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/1/30 | 13740 | 13390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/1/30 | 9646 | 9473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/1/30 | 19791 | 19445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 7/1/30 | 4824 | 4699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/1/30 | 10866 | 10676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 8/1/30 | 16570 | 16131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/1/30 | 3148 | 3091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 9/1/30 | 21193 | 20623 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 4/1/31 | 21001 | 20414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/1/31 | 372 | 369 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.981%, 11/1/31(l) | 371 | 376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/1/32 | 1751 | 1706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/1/32 | 2480 | 2416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/1/32 | 1790 | 1744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/1/35 | 2897 | 2999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/1/39 | 6458 | 6486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/1/39 | 2916 | 2926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 8/1/40 | 3381 | 3306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/1/40 | 7477 | 7331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/1/41 | 151 | 148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/1/41 | 13597 | 13636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/1/41 | 12461 | 12967 |

---

See Notes to Portfolio of Investments.

867

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/1/41 | $27670 | $28243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/1/42 | 26257 | 25033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 8/1/42 | 20082 | 19129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/1/42 | 1176 | 1126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/43 | 17898 | 16504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/1/43 | 11562 | 10939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 7/1/43 | 2850 | 2712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/1/43 | 22249 | 22256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/1/43 | 4588 | 4589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/1/43 | 17348 | 17384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/1/44 | 6330 | 6010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/1/44 | 13672 | 13346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/1/44 | 4651 | 4427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/1/44 | 3355 | 3274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 1/1/45 | 898127 | 819940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/1/45 | 476226 | 433803 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/1/45 | 2263 | 2142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/1/45 | 16455 | 16024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/1/45 | 6522 | 6331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/1/46 | 108567 | 99064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/1/47 | 24421 | 22997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/1/47 | 42332 | 42229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/1/47 | 15800 | 15702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/47 | 55813 | 55454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/1/47 | 33576 | 31587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/1/47 | 28718 | 26990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/1/48 | 10277 | 9643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/48 | 134277 | 133403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/1/48 | 233522 | 231549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/1/48 | 5958 | 6047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/1/49 | 25595 | 25349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 4/1/50 | 1117463 | 977194 |
|  FHLMC UMBS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/1/34 | 26063 | 25574 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/1/35 | 93159 | 91531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 9/1/35 | 44442 | 41130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 1/1/36 | 90689 | 84186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/1/36 | 75404 | 69784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/1/36 | 18048 | 16703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 4/1/36 | 195996 | 176670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 5/1/36 | 39031 | 35175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 5/1/36 | 105507 | 97942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/1/37 | 262856 | 243693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 4/1/37 | 33110 | 30622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/1/37 | 3587 | 3419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/1/38 | 69545 | 66575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/1/41 | 1752371 | 1572543 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/1/42 | 53517 | 46295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/1/45 | 209125 | 204221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/1/45 | 207892 | 203097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/1/46 | 91966 | 87194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/1/46 | 30165 | 28220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/1/47 | 44299 | 42736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/1/48 | 19717 | 18360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/1/48 | 150601 | 146040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/1/48 | 4242 | 4111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 8/1/48 | 40138 | 38847 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/1/49 | 40016 | 39430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/1/49 | 4678 | 4490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/1/50 | 22406 | 20807 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/1/50 | 68301 | 65464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/1/50 | 57414 | 53281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/1/50 | 73510 | 70388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 7/1/50 | 35998 | 30945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/1/50 | 15111 | 13591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/1/50 | 76084 | 72963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 8/1/50 | 67675 | 52291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 8/1/50 | 20889 | 17164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 8/1/50 | 3325364 | 2865797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/1/50 | 907129 | 813417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 9/1/50 | 56036 | 45642 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/1/50 | 263646 | 237391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/1/50 | 169350 | 130537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/1/50 | 38926 | 32046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/1/51 | 279037 | 240735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/1/51 | 412223 | 335375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 4/1/51 | 146624 | 120939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 5/1/51 | 70657 | 58170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/1/51 | 821153 | 707588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/1/51 | 1384132 | 1227258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 7/1/51 | 268626 | 221654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/1/51 | 86617 | 77558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 9/1/51 | 95734 | 78390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/1/51 | 273302 | 222694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/1/51 | 86379 | 76994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/1/51 | 715166 | 615936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/1/51 | 196319 | 161461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/1/51 | 346126 | 297750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 1/1/52 | 1055892 | 868619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 1/1/52 | 901777 | 773571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/1/52 | 28267 | 23015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/1/52 | 63773 | 57203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/52 | 2845786 | 2543930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/1/52 | 26243 | 25137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/1/52 | 3008 | 3020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/52 | 78396 | 76489 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/1/52 | 48519 | 48923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/1/52 | 79129 | 70587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 8/1/52 | 664912 | 629399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/1/52 | 22454 | 21908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/1/52 | 114295 | 114634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/1/52 | 34603 | 34534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/1/52 | 177236 | 167604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/1/52 | 13349 | 13397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/1/52 | 26514 | 27419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/1/52 | 38208 | 38323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/1/52 | 173099 | 173652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/1/53 | 51670 | 51859 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1/1/53 | 80045 | 81327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1/1/53 | 67532 | 69328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/1/53 | 21974 | 22054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/1/53 | 38658 | 39685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/1/53 | 105247 | 107336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 3/1/53 | 22893 | 23501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/1/53 | 38523 | 39770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/1/53 | 428831 | 427713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5/1/53 | 235918 | 240559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5/1/53 | 144837 | 149422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/1/53 | 315476 | 314555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/1/53 | 48441 | 49115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/1/53 | 84041 | 86702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 7/1/53 | 349882 | 354747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/1/53 | 47547 | 48168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/1/53 | 194501 | 193751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/1/53 | 123613 | 125293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/1/53 | 1703980 | 1722352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 11/1/53 | 37760 | 39387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/1/54 | 3611254 | 3744050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 9/1/54 | 369632 | 379371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/1/54 | 249835 | 253699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1/1/55 | 168231 | 170571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/1/55 | 100779 | 103402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5/1/55 | 211579 | 217087 |

---

See Notes to Portfolio of Investments.

868

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  FNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.470%, 1/1/28(l) | $361 | $363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.790%, 1/1/29 | 2334000 | 2418076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.810%, 6/1/31 | 1062000 | 1100932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.630%, 4/1/32 | 2519000 | 2267213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 7/1/32 | 4934970 | 4652900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.207%, 3/1/33(l) | 2530 | 2470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.842%, 1/1/36(l) | 6497 | 6688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 7/1/39 | 5154 | 5359 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.319%, 12/1/40(l) | 353 | 357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/1/41 | 3199 | 3125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/1/44 | 221533 | 206417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/1/45 | 396486 | 369432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 4/1/45 | 268949 | 238131 |
|  FNMA UMBS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 9/1/27 | 2447 | 2414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 4/1/28 | 939 | 924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 8/1/28 | 3087 | 3031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/1/29 | 3979 | 3947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 4/1/29 | 6367 | 6269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/1/29 | 7464 | 7347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/1/29 | 7288 | 7173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/1/29 | 6712 | 6603 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/1/29 | 4090 | 4021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 1/1/30 | 34836 | 34239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/1/30 | 1673 | 1636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/30 | 7969 | 7828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 4/1/30 | 4061 | 3960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 4/1/30 | 6450 | 6337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/1/30 | 1901 | 1852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/1/30 | 3447 | 3386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 7/1/30 | 7796 | 7587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/1/30 | 16132 | 15824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 8/1/30 | 21213 | 20661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/1/30 | 33594 | 32954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 8/1/30 | 5355 | 5298 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 9/1/30 | 13215 | 12843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/1/30 | 15730 | 15427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/1/30 | 24578 | 23881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/1/31 | 1625 | 1599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/31 | 2353 | 2304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 6/1/31 | 8208 | 7948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 7/1/31 | 5621 | 5436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 8/1/31 | 700 | 678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/1/31 | 35137 | 34411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 8/1/31 | 2275 | 2271 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/1/31 | 5795 | 5675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/1/31 | 2387 | 2279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/1/31 | 46671 | 45109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/1/31 | 32392 | 30920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/1/31 | 20209 | 19529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/1/31 | 3487 | 3326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/1/32 | 1401 | 1353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/1/32 | 23921 | 22808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/1/32 | 6104 | 5889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/1/32 | 58110 | 57270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/1/32 | 42525 | 41937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/1/32 | 11870 | 11580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 8/1/32 | 33357 | 32193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/1/32 | 9114 | 8924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/1/33 | 53277 | 51778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/1/33 | 11871 | 11886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/1/34 | 7662 | 7987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5/1/34 | 34629 | 35767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/1/34 | 4246 | 4434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/1/34 | 593454 | 569159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/1/34 | 435805 | 425319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/1/35 | 292348 | 283514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/1/35 | 36574 | 37187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 2/1/35 | 17247 | 17798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/1/35 | 67631 | 70393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/1/35 | 44093 | 42559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/1/35 | 2263 | 2298 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/1/35 | 89045 | 84336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/1/35 | 304687 | 288386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/1/35 | 40251 | 38813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/1/35 | 12305 | 12738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/1/36 | 19815 | 19516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/1/36 | 21107 | 19521 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 3/1/36 | 21339 | 19258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/1/36 | 44112 | 40811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 4/1/36 | 35923 | 33335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 5/1/36 | 35214 | 31780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 5/1/36 | 246335 | 228670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/1/36 | 22001 | 21204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 6/1/36 | 123266 | 111090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 7/1/36 | 40506 | 37475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/1/36 | 1513 | 1446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/1/36 | 18921 | 17529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/1/36 | 15858 | 15156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 12/1/36 | 81292 | 73236 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/1/36 | 26277 | 25114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 1/1/37 | 18264 | 16920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 2/1/37 | 35976 | 32479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/1/37 | 130698 | 121046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/1/37 | 86596 | 79973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 4/1/37 | 56719 | 52439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/1/38 | 3194 | 3370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 3/1/38 | 1435 | 1513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5/1/38 | 3758 | 3965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/1/38 | 1111 | 1169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/1/38 | 1737 | 1832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1/1/39 | 7979 | 8298 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/39 | 83657 | 83849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 9/1/39 | 13000 | 13499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/1/39 | 11389 | 11840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/1/40 | 1140 | 1184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 5/1/40 | 30022 | 32013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/40 | 8244 | 8261 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/1/40 | 13770 | 13490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/1/40 | 74846 | 65175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/1/40 | 227412 | 222167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/1/41 | 2390 | 2484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/1/41 | 732 | 733 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/41 | 1331 | 1333 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/1/41 | 41977 | 42794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/1/41 | 976 | 995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/1/41 | 7086 | 7099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/1/41 | 2863 | 2866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 11/1/41 | 1212609 | 1016462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 12/1/41 | 616128 | 516095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/1/42 | 12590 | 11989 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/1/42 | 23969 | 23381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/1/42 | 365758 | 316724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/1/42 | 416850 | 360739 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 4/1/42 | 49076 | 42456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/1/42 | 5531 | 5254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/1/42 | 549 | 522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/1/42 | 26215 | 25549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/1/42 | 1338 | 1271 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 7/1/42 | 1977 | 1873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 8/1/42 | 178388 | 154690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/1/42 | 6860 | 6872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/1/42 | 9272 | 9293 |

---

See Notes to Portfolio of Investments.

869

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/43 | $89281 | $82047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 4/1/43 | 51833 | 47598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/1/43 | 41079 | 37834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/1/43 | 20377 | 18828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/1/43 | 12144 | 12129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/1/43 | 58510 | 58498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/1/43 | 11273 | 11268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/1/43 | 72236 | 73629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/1/44 | 7989 | 7981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 6/1/44 | 84931 | 84912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/1/44 | 772899 | 709440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/1/44 | 2754351 | 2801261 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/1/45 | 127383 | 120889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/45 | 25413 | 25343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/1/45 | 43315 | 43177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/1/45 | 18919 | 18906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/1/46 | 8769 | 7994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/46 | 78553 | 78631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/1/46 | 1184 | 1080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 9/1/46 | 20760 | 18933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/1/46 | 1851 | 1688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/1/46 | 6673 | 6243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/1/46 | 12637 | 12155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/1/46 | 928390 | 838573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/1/47 | 762770 | 662599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/1/47 | 40339 | 36712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/1/47 | 709880 | 672896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 4/1/47 | 935655 | 844522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/1/47 | 25767 | 24129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/1/47 | 44509 | 42730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 8/1/47 | 22513 | 21690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/1/47 | 1637 | 1572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/1/47 | 19734 | 18945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/1/47 | 5826 | 5781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/1/47 | 32522 | 30283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/1/47 | 50799 | 50390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/1/47 | 32706 | 30454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/1/48 | 52208 | 48794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/1/48 | 19671 | 18873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/1/48 | 46688 | 46297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/1/48 | 14840 | 13818 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 3/1/48 | 106852 | 99494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/1/48 | 5661 | 5337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/1/48 | 2921 | 2801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/1/48 | 18882 | 18818 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/1/48 | 3512 | 3370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/1/48 | 338601 | 335996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/1/48 | 544311 | 506150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/1/48 | 2431 | 2331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/1/48 | 2405 | 2306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/48 | 365853 | 361260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 8/1/48 | 32161 | 30930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/1/48 | 40738 | 40371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 8/1/48 | 3091 | 3133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/1/48 | 15518 | 14879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/1/48 | 9969 | 10101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/1/48 | 6947 | 6654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/1/48 | 30360 | 30029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/1/49 | 65025 | 62792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/1/49 | 117573 | 116366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/1/49 | 237709 | 236606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/1/49 | 29020 | 29380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/1/49 | 711675 | 662669 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/1/49 | 65559 | 62795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/1/49 | 7852 | 7752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/1/50 | 27128 | 25891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/1/50 | 26247 | 25116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/1/50 | 59640 | 56883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 7/1/50 | 783764 | 675602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 8/1/50 | 3040001 | 2476210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 8/1/50 | 456468 | 393384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/1/50 | 159982 | 143100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 9/1/50 | 125015 | 101826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 9/1/50 | 83596 | 80072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/1/50 | 175645 | 135390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/1/50 | 169468 | 138034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/1/50 | 1162263 | 1000911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 11/1/50 | 153027 | 117956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/1/50 | 22824 | 18576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/1/50 | 142416 | 122823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/1/50 | 139656 | 114806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 1/1/51 | 162783 | 132792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/1/51 | 670369 | 620018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/1/51 | 203129 | 194442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/1/51 | 214022 | 174123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 3/1/51 | 206850 | 159185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/1/51 | 109244 | 89805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/1/51 | 94611 | 90533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 4/1/51 | 178047 | 146419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/1/51 | 1714628 | 1522977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 8/1/51 | 1170499 | 951084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 9/1/51 | 1992457 | 1712927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/1/51 | 1353639 | 1246891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/1/51 | 687319 | 561724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 11/1/51 | 533783 | 454313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/1/51 | 196539 | 174832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/1/51 | 322968 | 264480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/1/51 | 84069 | 75074 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/1/51 | 3310467 | 3070095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 1/1/52 | 142561 | 117543 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 1/1/52 | 1081393 | 929607 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/1/52 | 694892 | 566890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/1/52 | 219360 | 188780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/1/52 | 511361 | 419097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/52 | 180135 | 160690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 4/1/52 | 978475 | 804931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 4/1/52 | 43148 | 38557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/1/52 | 35516 | 33908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/1/52 | 68798 | 61243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/1/52 | 75876 | 72345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/1/52 | 12199 | 11902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/1/52 | 103285 | 103980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/1/52 | 3279355 | 3199578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/1/52 | 76923 | 73511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/1/52 | 188135 | 177851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/1/53 | 162845 | 162954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 1/1/53 | 118094 | 120235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 1/1/53 | 92429 | 94886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 3/1/53 | 141263 | 140917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 4/1/53 | 898853 | 896409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 4/1/53 | 50324 | 51917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/1/53 | 423599 | 413823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 5/1/53 | 2979680 | 2964462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 5/1/53 | 380779 | 387392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 5/1/53 | 168946 | 173935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 5/1/53 | 28675 | 29795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 6/1/53 | 86368 | 88055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/1/53 | 515777 | 516685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 7/1/53 | 142155 | 146656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/1/53 | 264765 | 268364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/1/53 | 284250 | 291296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 8/1/53 | 163568 | 170466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 9/1/53 | 32151 | 33537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/1/53 | 90645 | 94551 |

---

See Notes to Portfolio of Investments.

870

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 2/1/54 | $193271 | $201163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 3/1/54 | 1926026 | 1964315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 4/1/54 | 22396 | 23263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 6/1/54 | 209812 | 217183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 7/1/54 | 19446 | 20193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 8/1/54 | 3279333 | 3356263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 8/1/54 | 139947 | 145281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 8/1/55 | 92746 | 95131 |
|  FNMA/FHLMC UMBS, 15 Year, Single Family |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/25/40 TBA | 61000 | 59999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/25/40 TBA | 361000 | 360634 |
|  FNMA/FHLMC UMBS, 30 Year, Single Family |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/25/55 TBA | 13700000 | 12036735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/25/55 TBA | 8371000 | 7651617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/25/55 TBA | 165000 | 155551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/25/55 TBA | 16700000 | 16204219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/25/55 TBA | 2752000 | 2730070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/25/55 TBA | 5582534 | 5630073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/25/55 TBA | 4625455 | 4725191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/25/55 TBA | 668000 | 690336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/25/55 TBA | 12100000 | 11057793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/25/55 TBA | 16600000 | 15646149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/25/55 TBA | 18400000 | 18543750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/25/55 TBA | 5570000 | 5689016 |
|  GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 7/20/27(l) | 71 | 71 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 4/15/33 | 272 | 278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/38 | 2103 | 2137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/20/39 | 823 | 804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/15/39 | 6270 | 6366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/20/39 | 2027 | 1979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/20/39 | 2134 | 2171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/20/39 | 847 | 845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/20/40 | 1024 | 1023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/20/40 | 846 | 845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/20/40 | 70 | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/20/40 | 10808 | 10532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/20/40 | 33279 | 32421 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/40 | 8032 | 8167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/20/40 | 13331 | 12989 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/20/41 | 11486 | 11190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/15/41 | 8974 | 8710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/20/41 | 4953 | 4944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/15/42 | 6763 | 6387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 2/15/42 | 63979 | 63826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/20/42 | 5851 | 5949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/15/43 | 9805 | 9237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/20/43 | 23590 | 22305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/20/44 | 74415 | 70171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/20/44 | 825 | 839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/20/44 | 362 | 350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/20/45 | 158346 | 144689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/15/45 | 17709 | 16228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/20/45 | 14901 | 13995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/15/45 | 81634 | 73868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 8/20/45 | 199067 | 192239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/20/46 | 294561 | 275139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/20/46 | 13924 | 13006 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 6/20/46 | 172664 | 161279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 7/20/46 | 60015 | 56058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/20/46 | 205958 | 192120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/20/46 | 31664 | 29339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/20/47 | 2970 | 2859 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/20/47 | 28190 | 27139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/20/47 | 32436 | 31187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/20/47 | 15912 | 15299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/20/48 | 13229 | 13033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/20/49 | 2902 | 2937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/20/49 | 128268 | 129814 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 3/20/49 | 56109 | 55437 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 6/20/49 | 107357 | 108718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 7/20/49 | 32840 | 33277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/15/49 | 5966 | 5487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/20/49 | 29547 | 30014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/15/50 | 82797 | 76108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 4/20/50 | 20370 | 20107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/20/50 | 10373 | 9908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 8/20/50 | 443847 | 368216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/20/50 | 75474 | 62496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 1/20/51 | 946342 | 783609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/20/51 | 76897 | 63674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/20/51 | 1582340 | 1357294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 4/20/51 | 1940789 | 1665859 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 6/20/51 | 473669 | 423546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 8/20/51 | 1473080 | 1264955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/20/51 | 571118 | 510862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/20/51 | 222099 | 191414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/20/51 | 153124 | 131968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/20/51 | 153769 | 137606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/20/52 | 354335 | 305463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/20/52 | 316134 | 290473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 6/20/52 | 274584 | 236711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 7/20/52 | 175759 | 151517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/20/52 | 30956 | 26766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/20/52 | 254281 | 241406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 1/20/53 | 98612 | 85157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/20/54 | 968660 | 884054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 5/20/55 | 343646 | 313577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/15/55 TBA | 477000 | 394606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/15/55 TBA | 311000 | 267776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/15/55 TBA | 264000 | 235868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/55 TBA | 184000 | 173089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/15/55 TBA | 759000 | 736289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/55 TBA | 1148000 | 1142260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/15/55 TBA | 1431000 | 1441844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/15/55 TBA | 2644000 | 2689444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 11/15/55 TBA | 406000 | 417022 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Mortgage-Backed Securities** |  | 217260381 |
|  **Municipal Bonds (0.3%)** |  |  |
|  American Municipal Power, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.084%, 2/15/50 | 55000 | 70623 |
|  City of New York Municipal Water Finance Authority, Water & Sewer System, Revenue Bonds, Series BB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.882%, 6/15/44 | 60000 | 62241 |
|  City of San Antonio, Electric & Gas Systems, Revenue Bonds, Series 2010A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.808%, 2/1/41 | 60000 | 62317 |
|  Georgia Municipal Electric Authority, Revenue Bonds, Series 2010A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.637%, 4/1/57 | 42000 | 46028 |
|  Los Angeles Community College District |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.600%, 8/1/42 | 25000 | 27313 |

---

See Notes to Portfolio of Investments.

871

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  Louisiana Local Government Environmental Facilities & Community Development Authority<br>Systems, Series 2023 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.198%, 12/1/39 | $500000 | $516514 |
|  Metropolitan Transportation Authority, Revenue Bonds, Series 2010E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.814%, 11/15/40 | 35000 | 38835 |
|  New Jersey Turnpike Authority, Revenue Bonds, Series 2009F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.414%, 1/1/40 | 75000 | 90574 |
|  New York & New Jersey Port Authority, Consolidated Bonds, Series 181 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.960%, 8/1/46 | 40000 | 38426 |
|  New York State Dormitory Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.389%, 3/15/40 | 45000 | 45687 |
|  Sales Tax Securitization Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.057%, 1/1/34 | 600000 | 539929 |
|  San Francisco Bay Area Toll Authority, Subordinate Toll Bridge, Revenue Bonds, Series 2010-S1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.043%, 4/1/50 | 60000 | 68932 |
|  State of California Federally Taxable General Obligation Refunding Bonds Various Purpose |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 4/1/38 | 100000 | 101982 |
|  State of California, Various Purposes, General Obligation Bonds, Series 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.550%, 4/1/39 | 130000 | 158615 |
|  State of Illinois, General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.100%, 6/1/33 | 235588 | 239660 |
|  State of Texas |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.517%, 4/1/39 | 80000 | 83129 |
|  Texas Natural Gas Securitization Finance Corp., Revenue Bonds, Series 2023 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.169%, 4/1/41 | 300000 | 305606 |
|  University of California, General Revenue Bonds, Series 2012-AD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.858%, 5/15/12 | 57000 | 48362 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Municipal Bonds** |  | 2544773 |
|  **Supranational (0.6%)** |  |  |
|  African Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/18/30 | 100000 | 100895 |
|  Asian Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 1/12/27 | 50000 | 49295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 1/20/27 | 350000 | 340029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 1/24/30 | 200000 | 185112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 9/28/32 | 160000 | 158848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/12/33 | 85000 | 84868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/14/33 | 100000 | 98756 |
|  Asian Infrastructure Investment Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/15/28 | 70000 | 69947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 1/16/30 | 100000 | 102924 |
|  Corp. Andina de Fomento |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 1/22/30 | 60000 | 62085 |
|  Council of Europe Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 1/26/28 | 25000 | 24952 |
|  European Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 10/26/26 | 139000 | 134583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/19/27 | 100000 | 100925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/16/28 | 125000 | 127955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/15/29 | 70000 | 70635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 3/15/29 | 53000 | 49676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 6/15/29 | 167000 | 172953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 10/9/29 | 55000 | 50654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 3/14/30 | 100000 | 103048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 9/23/30(x) | 100000 | 86409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/15/30 | 65000 | 65252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 2/13/34 | 71000 | 71192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/12/35 | 55000 | 56938 |
|  Inter-American Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 2/15/29 | 200000 | 202538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 6/18/29 | 50000 | 47404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/17/31 | 200000 | 196951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 7/17/34 | 100000 | 101447 |
|  Inter-American Investment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 2/15/28(x) | 50000 | 50385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/14/29 | 100000 | 101123 |
|  International Bank for Reconstruction & Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 10/27/26 | 150000 | 146793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 6/15/27 | 200000 | 198174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 11/24/27 | 95000 | 89284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 8/1/28 | 80000 | 82011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 9/13/28 | 200000 | 185672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/20/30 | 100000 | 101488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/25/30 | 180000 | 181721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 8/26/30 | 170000 | 147073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 11/3/31 | 238000 | 208498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/27/35 | 100000 | 101354 |
|  International Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 10/8/26 | 80000 | 77474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 7/2/29 | 80000 | 81356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 8/27/30 | 100000 | 86466 |
|  Nordic Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 3/14/28 | 200000 | 203129 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Supranational** |  | 4958272 |
|  **U.S. Government Agency Securities (1.3%)** |  |  |
|  FFCB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.040%, 1/25/29 | 250000 | 228856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.380%, 1/14/31 | 250000 | 219342 |
|  FHLB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/9/26 | 250000 | 250901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/17/26(x) | 250000 | 252550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/10/27 | 250000 | 251136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 4/9/27 | 180000 | 182961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/4/27 | 200000 | 200716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/9/27(x) | 175000 | 174376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/30/28 | 100000 | 100945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 11/16/28 | 250000 | 247073 |

---

See Notes to Portfolio of Investments.

872

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.650%, 10/22/25 | $2600000 | $2594857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.650%, 10/27/25 | 2600000 | 2593766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.800%, 10/28/26 | 2600000 | 2520619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 2/11/28 | 250000 | 250382 |
|  FNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 10/8/27 | 250000 | 236058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 8/5/30 | 500000 | 436614 |
|  Tennessee Valley Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3/15/28 | 38000 | 38275 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/1/30 | 65000 | 64947 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Government Agency Securities** |  | 10844374 |
|  **U.S. Treasury Obligations (27.3%)** |  |  |
|  U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/39 | 102000 | 100358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 8/15/39 | 126000 | 126846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/15/39 | 860000 | 852212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/15/40 | 505000 | 513367 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 5/15/40 | 581000 | 369901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 8/15/40 | 581000 | 366006 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/40 | 405000 | 377308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 11/15/40(z) | 3935000 | 2565208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/15/40 | 405000 | 393242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/15/41(z) | 3200000 | 3140986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/15/42 | 387000 | 313622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 5/15/42 | 800000 | 671484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 2/15/43 | 601000 | 490097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/43 | 1900000 | 1486827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/15/43 | 2143900 | 1868525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/15/43 | 1100000 | 1060808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 11/15/43 | 1843900 | 1631395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/15/43 | 169000 | 170664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 2/15/44 | 1300000 | 1127193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 5/15/44 | 1200000 | 1000241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 8/15/44 | 1029500 | 823578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 8/15/44 | 108200 | 100352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/15/44 | 1000000 | 781599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 2/15/45 | 1541000 | 1102270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 8/15/45 | 1800000 | 1365766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 8/15/45 | 2825000 | 2885473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/15/47 | 285900 | 217361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 11/15/47# | 1798200 | 1297980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/15/48 | 900000 | 678887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 2/15/49# | 2291500 | 1713761 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/49 | 200000 | 145758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/15/49 | 1675000 | 1067629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 11/15/49 | 200000 | 130690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/15/50 | 800000 | 477756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 8/15/50 | 300000 | 150609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 11/15/50 | 8772300 | 4701401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/15/51 | 1817000 | 1036790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/51 | 278700 | 179191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 8/15/51 | 1125000 | 658477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 11/15/51 | 502000 | 283684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 2/15/52 | 7000 | 4336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/52 | 116000 | 82691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/15/52 | 501400 | 366340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5/15/53 | 3000 | 2475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 8/15/54 | 5000000 | 4611990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/54 | 24000 | 23092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/15/55 | 307000 | 301520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 5/15/55 | 406000 | 406919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 8/15/55(z) | 1458000 | 1461873 |
|  U.S. Treasury Inflation Linked Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 2/15/45 TIPS | 411558 | 305924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 2/15/46 TIPS | 136339 | 104809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 2/15/47 TIPS | 133827 | 98551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 2/15/49 TIPS | 128379 | 94441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 2/15/50 TIPS | 376959 | 222072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 2/15/51 TIPS | 620405 | 342867 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 2/15/52 TIPS | 116048 | 62701 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 2/15/53 TIPS | 217354 | 173520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 2/15/54 TIPS | 263150 | 242427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 2/15/55 TIPS | 102376 | 99805 |
|  U.S. Treasury Inflation Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 7/15/27 TIPS | 607485 | 603283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 10/15/27 TIPS | 785189 | 797686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 1/15/28 TIPS | 602444 | 595363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 4/15/28 TIPS | 7646771 | 7674377 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 4/15/29 TIPS | 2834347 | 2925170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 10/15/29 TIPS | 1075950 | 1097361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 4/15/30 TIPS | 6086890 | 6180449 |
|  U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 3/15/26 | 1457000 | 1461668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 7/15/26 | 454000 | 456492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 7/31/26 | 743200 | 724221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/26(x) | 513000 | 517760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/26 | 1000000 | 1004427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/15/26 | 3118000 | 3059265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/30/26 | 750000 | 754593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/31/26 | 500000 | 503305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/15/27 | 743200 | 746074 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 1/31/27 | 71000 | 69000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 1/31/27 | 1000000 | 1005594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 2/15/27 | 3625000 | 3556214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 2/15/27 | 27000 | 27158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 2/28/27 | 1000000 | 1006138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 3/15/27 | 743200 | 749259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 3/31/27 | 1000000 | 956173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3/31/27 | 1000000 | 1003128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/30/27 | 1031000 | 1032672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/27 | 950000 | 931014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 5/31/27 | 1091000 | 1094941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 6/15/27 | 850000 | 863607 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 6/30/27 | 750000 | 710532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/30/27 | 580000 | 576257 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 6/30/27 | 1500000 | 1502955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/31/27 | 816000 | 819473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 8/15/27 | 656500 | 640318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/15/27 | 500000 | 501149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 8/31/27 | 1000000 | 942694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/31/27 | 1000000 | 1000119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 9/15/27 | 750000 | 746742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 9/30/27 | 281500 | 264107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/30/27 | 1000000 | 998047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/15/27 | 850000 | 854441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/27 | 406000 | 410154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 11/15/27 | 4710000 | 4579771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/27 | 1000000 | 1010476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 11/30/27 | 875000 | 821211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/30/27 | 907000 | 911962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/15/27 | 761000 | 767440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 12/31/27 | 800000 | 748938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/31/27 | 850000 | 854815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 1/15/28 | 2259000 | 2290289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/31/28 | 1100000 | 1097288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 2/15/28 | 3110000 | 3048738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/15/28 | 750000 | 760783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/29/28 | 2117000 | 2136092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3/15/28 | 1145000 | 1152514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 3/31/28 | 767000 | 724065 |

---

See Notes to Portfolio of Investments.

873

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 3/31/28 | $750000 | $750358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 4/15/28 | 1417000 | 1421675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/30/28 | 500000 | 498671 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/28 | 1010000 | 991226 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 5/15/28 | 1000000 | 1003453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 5/31/28 | 1113000 | 1046482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 5/31/28 | 650000 | 650211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/15/28 | 627000 | 631246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 6/30/28 | 500000 | 469258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/30/28 | 2000000 | 2019999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/15/28 | 600000 | 604031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 7/31/28 | 1000000 | 1013433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 8/15/28 | 3020000 | 2958305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/15/28 | 500000 | 500135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 8/31/28 | 356000 | 331546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 8/31/28 | 2261000 | 2307580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 9/15/28 | 250000 | 248340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 9/30/28 | 1089700 | 1016556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/28 | 250000 | 257084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 11/15/28 | 3590000 | 3536007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/28 | 500000 | 510937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/28 | 2089000 | 2096191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/31/29 | 1000000 | 1010937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 2/15/29 | 1850000 | 1790618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/28/29 | 1016000 | 1035601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 3/31/29 | 267000 | 255883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/31/29 | 257000 | 260953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 4/30/29 | 534000 | 519982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/30/29 | 850000 | 877163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/29 | 3300000 | 3157031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/31/29 | 718000 | 738263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 6/30/29 | 904400 | 891087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 9/30/29 | 500000 | 496634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/31/29 | 500000 | 505779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/29 | 750000 | 762116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 11/15/29 | 530000 | 491698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/30/29 | 500000 | 503351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/30/29 | 750000 | 762276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/31/29 | 600000 | 604078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/31/30 | 615000 | 610002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 2/15/30 | 1851000 | 1688313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/28/30 | 1091000 | 1103997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 3/31/30 | 500000 | 498082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 3/31/30 | 250000 | 252924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/30/30 | 750000 | 743144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 4/30/30 | 250000 | 251652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 5/15/30 | 1575000 | 1369482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 5/31/30 | 1581000 | 1582477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 5/31/30 | 1000000 | 1011974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 6/30/30 | 400000 | 400310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 6/30/30 | 944000 | 949986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 7/31/30 | 700000 | 704434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/31/30 | 601000 | 607943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 8/15/30 | 1500000 | 1293442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 8/31/30 | 500000 | 497587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/30/30 | 250000 | 248789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 9/30/30 | 250000 | 259924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/30 | 1553800 | 1633799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 11/15/30 | 1900000 | 1647980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/30 | 517000 | 531784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/30 | 1250000 | 1249025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 1/31/31 | 750000 | 758144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 2/15/31 | 2400000 | 2097656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 2/28/31 | 500000 | 511410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/31/31 | 750000 | 762301 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/30/31 | 250000 | 260294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 5/15/31 | 1500000 | 1335971 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 5/31/31 | 500000 | 520626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 6/30/31 | 1169200 | 1195053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 7/31/31 | 750000 | 761650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 8/15/31 | 2000000 | 1730295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 8/31/31 | 300000 | 298719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 9/30/31 | 892000 | 881719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/31 | 3000 | 3044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 11/15/31 | 1500000 | 1298410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/30/31 | 602000 | 610665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/31/31 | 508900 | 526600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/15/32 | 1700000 | 1508307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 2/29/32 | 51000 | 51696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 3/31/32 | 263000 | 266535 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 4/30/32 | 50000 | 50304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/32 | 1660900 | 1561418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 5/31/32 | 637000 | 645220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/30/32 | 592000 | 595191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/31/32 | 804000 | 808027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 8/15/32 | 2879000 | 2676790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/31/32 | 550000 | 548503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 9/30/32 | 500000 | 498438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/32 | 846000 | 855849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 2/15/33 | 750000 | 728203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 5/15/33 | 1500000 | 1440957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/33 | 1300000 | 1289547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/33 | 1500000 | 1550740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/15/34 | 2383000 | 2376614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 5/15/34 | 1757000 | 1797648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 8/15/34 | 1450000 | 1427948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/15/34 | 1981000 | 2003484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 2/15/35 | 2355000 | 2447498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 5/15/35 | 2000000 | 2018398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 8/15/35(x) | 2598700 | 2619814 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 221684327 |
|  **Total Long-Term Debt Securities (110.9%)**<br> *(Cost $956,776,753)* |  | 899867827 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Commercial Paper (0.0%)†** |  |  |
|  Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 10/16/25(n)(p)§ | 250000 | 249519 |
|  **Foreign Government Treasury Bills (0.4%)** |  |  |
|  Federative Republic of Brazil |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 4/1/26(p) | 18600000 | 3263837 |
|  | **Number of**<br>**Shares** | **Value**<br>**(Note 1)** |
|  **Investment Companies (1.1%)** |  |  |
|  BlackRock Liquidity FedFund, Institutional Shares 4.03% (7 day yield) (xx) | 800000 | 800000 |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 500000 | 500000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 1989114 | 1989114 |
|  JPMorgan Prime Money Market Fund, IM Shares 4.28% (7 day yield) | 5476949 | 5479140 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 8768254 |

---

See Notes to Portfolio of Investments.

874

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br>**Amount** | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  **U.S. Treasury Obligations (0.1%)** |  |  |  |
|  U.S. Treasury Bills |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 10/14/25(p)(v) | $| 264000 | $263616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.92%, 11/12/25(p) |  | 112000 | 111478 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  |  | 375094 |
|  **Total Short-Term Investments (1.6%)**<br> *(Cost $12,630,949)* |  |  | 12656704 |
|  | **Number of**<br>**Contracts** | **Number of**<br>**Contracts** | **Value**<br>**(Note 1)** |
|  OPTIONS PURCHASED: |  |  |  |
|  **Put Options Purchased (0.0%)†** |  |  |  |
|  ***Future Interest Rate Options (0.0%)†*** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury 30 Year Bond 10/24/2025 at USD 111.00, American Style Notional Amount: USD 4,600,000 Exchange Traded\* |  | 46 | 3594 |
|  **Total Options Purchased (0.0%)†**<br>(*Cost $42,368*) |  |  | 3594 |
|  **Total Investments Before Securities Sold Short (112.5%)**<br>(*Cost* $*969,450,070*) |  |  | 912528125 |
|  | **Principal**<br>**Amount** | **Principal**<br>**Amount** | **Value**<br>**(Note 1)** |
|  SECURITIES SOLD SHORT: |  |  |  |
|  ***Mortgage-Backed Securities (-0.3%)*** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA/FHLMC UMBS, 15 Year, Single Family |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/25/40 TBA |  | (271000) | (242587) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/25/40 TBA |  | (431000) | (396419) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/25/40 TBA |  | (17000) | (15987) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/25/40 TBA |  | (51000) | (48868) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/25/40 TBA |  | (52000) | (50379) |
|  FNMA/FHLMC UMBS, 30 Year, Single Family |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/25/55 TBA |  | (521000) | (420016) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 10/25/55 TBA |  | (101500) | (85530) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/25/55 TBA |  | (218000) | (191533) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/25/55 TBA |  | (774000) | (751022) |
|  GNMA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/15/55 TBA |  | (29000) | (26458) |
|  **Total Securities Sold Short (-0.3%)**<br> *(Proceeds Received $2,234,353)* |  |  | (2228799) |
|  **Total Investments after Securities Sold Short (112.2%)**<br> *(Cost $967,215,717)* |  |  | 910299326 |
|  **Other Assets Less Liabilities (-12.2%)** | **Other Assets Less Liabilities (-12.2%)** | **Other Assets Less Liabilities (-12.2%)** | (99247510) |
|  **Net Assets (100%)** |  |  | $811051816 |

---

*\** *Non-income producing.* 

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

---

| | |
|:---|:---|
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At September 30, 2025, the market value of these securities amounted to $156,382,534 or 19.3% of net assets.*  |

---

*#* *All, or a portion of security held by broker as collateral for financial futures contracts, with a total collateral value of $326,997.* 

*(e)* *Step Bond - Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of September 30, 2025. Maturity date disclosed is the ultimate maturity date.* 

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

*(k)* *Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of September 30, 2025.* 

*(l)* *Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of September 30, 2025.* 

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025,the market value or fair value, as applicable, of these securities amounted to $9,158,296 or 1.1% of net assets.* 

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

*(p)* *Yield to maturity.* 

*(v)* *All, or a portion of security held by broker as collateral for forward foreign currency contracts, with a total collateral value of $263,616. (x) All or a portion of security is on loan at September 30, 2025.* 

*(z)* *All or a portion of the Security is held as a Sale-Buyback position.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $5,603,948. This was collateralized by $2,439,189 of various U.S. Government Treasury Securities, ranging from 0.000% – 4.875%, maturing 10/15/25 – 2/15/55 and by cash of $3,289,114 which was subsequently invested in investment companies.* 

*Glossary:* 

*ARM — Adjustable Rate Mortgage* 

*AUD — Australian Dollar* 

*BRL — Brazilian Real* 

*CAD — Canadian Dollar* 

*CME — Chicago Mercantile Exchange* 

*CLO — Collateralized Loan Obligation* 

*COP — Colombian Peso* 

*DKK — Denmark Krone* 

*EUR — European Currency Unit* 

*EURIBOR — Euro Interbank Offered Rate* 

*FFCB — Federal Farm Credit Bank* 

*FHLB — Federal Home Loan Bank* 

*FHLMC — Federal Home Loan Mortgage Corp.* 

*FNMA — Federal National Mortgage Association* 

*GBP — British Pound* 

*GNMA — Government National Mortgage Association* 

*IO — Interest Only* 

*JPY — Japanese Yen* 

*MXN — Mexican Peso* 

*MYR — Malaysian Ringgit* 

*OAT — Obligations Assimilables du Trésor* 

*PEN — Peruvian Sol* 

*REIT — Real Estate Investment Trust* 

*REMIC — Real Estate Mortgage Investment Conduit* 

*SOFR — Secured Overnight Financing Rate* 

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

*TIPS — Treasury Inflation Protected Security* 

*TWD — New Taiwan Dollar* 

*UMBS — Uniform Mortgage-Backed Securities* 

*USD — United States Dollar* 

See Notes to Portfolio of Investments.

875

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Futures contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional**<br>**Amount ($)** | **Value and<br>Unrealized<br>Appreciation**<br>**(Depreciation) ($)** |
|  **Long Contracts** |  |  |  |  |  |
|  Australia 10 Year Bond | 45 | 12/2025 | AUD | 3375215 | (12306) |
|  Canada 10 Year Bond | 18 | 12/2025 | CAD | 1583876 | 23055 |
|  Euro-Bund | 3 | 12/2025 | EUR | 452843 | 877 |
|  Euro-OAT | 13 | 12/2025 | EUR | 1852123 | 18105 |
|  Long Gilt | 15 | 12/2025 | GBP | 1832561 | 8888 |
|  U.S. Treasury 2 Year Note | 38 | 12/2025 | USD | 7919141 | 7673 |
|  U.S. Treasury 5 Year Note | 28 | 12/2025 | USD | 3057469 | 1107 |
|  U.S. Treasury 10 Year Note | 124 | 12/2025 | USD | 13950000 | 61931 |
|  U.S. Treasury Long Bond | 20 | 12/2025 | USD | 2331875 | 38459 |
|  U.S. Treasury Ultra Bond | 45 | 12/2025 | USD | 5402813 | 99885 |
|  |  |  |  |  | 247674 |
|  **Short Contracts** |  |  |  |  |  |
|  Euro-Bobl | (3) | 12/2025 | EUR | (414944) | (555) |
|  Euro-BTP | (11) | 12/2025 | EUR | (1547680) | (10814) |
|  U.S. Treasury 2 Year Note | (24) | 12/2025 | USD | (5001563) | (958) |
|  U.S. Treasury 10 Year Note | (7) | 12/2025 | USD | (787500) | 674 |
|  U.S. Treasury 10 Year Ultra |  |  |  |  |  |
|  Note | (144) | 12/2025 | USD | (16571250) | (147028) |
|  U.S. Treasury Long Bond | (29) | 12/2025 | USD | (3381219) | (75259) |
|  U.S. Treasury Ultra Bond | (11) | 12/2025 | USD | (1320688) | (39461) |
|  |  |  |  |  | (273401) |
|  |  |  |  |  | (25727) |

---

See Notes to Portfolio of Investments.

876

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

**Forward Foreign Currency Contracts outstanding as of September 30, 2025 (Note 1):** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation) ($)** |
|  BRL | 16116383 | USD | 2931008 | Goldman Sachs Bank USA<sup>\*\*</sup> | 10/2/2025 | 97106 |
|  JPY | 54511082 | USD | 363941 | Bank of America | 10/2/2025 | 4664 |
|  USD | 224739 | CAD | 310574 | JPMorgan Chase Bank | 10/2/2025 | 1577 |
|  USD | 683746 | JPY | 100319691 | Bank of America | 10/2/2025 | 5383 |
|  USD | 486720 | JPY | 71324962 | HSBC Bank plc | 10/2/2025 | 4420 |
|  USD | 295784 | TWD | 8813190 | Barclays Bank plc<sup>\*\*</sup> | 10/20/2025 | 6188 |
|  USD | 223146 | CAD | 309872 | HSBC Bank plc | 11/4/2025 | 108 |
|  USD | 3812 | JPY | 561458 | Barclays Bank plc | 11/4/2025 | 1 |
|  BRL | 3680052 | USD | 679490 | Goldman Sachs Bank USA<sup>\*\*</sup> | 12/2/2025 | 1937 |
|  EUR | 74000 | USD | 87053 | Deutsche Bank AG | 12/17/2025 | 216 |
|  MXN | 1902000 | USD | 98246 | Goldman Sachs Bank USA | 12/17/2025 | 4758 |
|  MXN | 13451076 | USD | 722089 | JPMorgan Chase Bank | 12/17/2025 | 6363 |
|  USD | 350010 | COP | 1385482000 | HSBC Bank plc<sup>\*\*</sup> | 12/17/2025 | 286 |
|  USD | 579277 | EUR | 490000 | Deutsche Bank AG | 12/17/2025 | 1420 |
|  USD | 50382 | GBP | 37000 | Barclays Bank plc | 12/17/2025 | 616 |
|  USD | 42956 | JPY | 6271000 | HSBC Bank plc | 12/17/2025 | 212 |
|  USD | 176375 | MYR | 739718 | Barclays Bank plc<sup>\*\*</sup> | 12/17/2025 | 129 |
|  USD | 1133766 | BRL | 6300000 | Goldman Sachs Bank USA<sup>\*\*</sup> | 4/2/2026 | 1043 |
|  **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | **Total unrealized appreciation** | 136427 |
|  BRL | 5900000 | USD | 1109231 | Goldman Sachs Bank USA<sup>\*\*</sup> | 10/2/2025 | (677) |
|  EUR | 301000 | USD | 355775 | Barclays Bank plc | 10/2/2025 | (2386) |
|  EUR | 604000 | USD | 711153 | HSBC Bank plc | 10/2/2025 | (2026) |
|  EUR | 230000 | USD | 270832 | JPMorgan Chase Bank | 10/2/2025 | (800) |
|  USD | 433201 | AUD | 663266 | Barclays Bank plc | 10/2/2025 | (5682) |
|  USD | 3690772 | BRL | 22018237 | Goldman Sachs Bank USA<sup>\*\*</sup> | 10/2/2025 | (446245) |
|  USD | 125104 | DKK | 798056 | JPMorgan Chase Bank | 10/2/2025 | (415) |
|  USD | 8197925 | EUR | 7009557 | JPMorgan Chase Bank | 10/2/2025 | (31646) |
|  USD | 3587752 | GBP | 2668325 | Barclays Bank plc | 10/2/2025 | (878) |
|  USD | 31941 | PEN | 111870 | JPMorgan Chase Bank<sup>\*\*</sup> | 10/17/2025 | (266) |
|  USD | 31120 | PEN | 108562 | Bank of America<sup>\*\*</sup> | 10/20/2025 | (132) |
|  BRL | 299835 | USD | 55926 | Goldman Sachs Bank USA<sup>\*\*</sup> | 11/4/2025 | (65) |
|  USD | 438452 | AUD | 663266 | Barclays Bank plc | 11/4/2025 | (648) |
|  USD | 125356 | DKK | 796272 | JPMorgan Chase Bank | 11/4/2025 | (189) |
|  USD | 6900625 | EUR | 5874557 | Barclays Bank plc | 11/4/2025 | (10924) |
|  USD | 3588985 | GBP | 2668325 | JPMorgan Chase Bank | 11/4/2025 | (272) |
|  USD | 363941 | JPY | 54322343 | Bank of America | 11/4/2025 | (4763) |
|  USD | 785189 | JPY | 116116048 | HSBC Bank plc | 11/4/2025 | (2931) |
|  USD | 6569 | AUD | 10000 | BNP Paribas | 12/17/2025 | (54) |
|  USD | 556532 | EUR | 473269 | Deutsche Bank AG | 12/17/2025 | (1594) |
|  USD | 120160 | EUR | 102000 | Standard Chartered Bank | 12/17/2025 | (129) |
|  USD | 932203 | PEN | 3306338 | Bank of America<sup>\*\*</sup> | 12/17/2025 | (18155) |
|  USD | 256000 | PEN | 892749 | Deutsche Bank AG<sup>\*\*</sup> | 12/17/2025 | (608) |
|  BRL | 806880 | USD | 148242 | Goldman Sachs Bank USA<sup>\*\*</sup> | 1/5/2026 | (60) |
|  USD | 2164332 | BRL | 12300000 | Goldman Sachs Bank USA<sup>\*\*</sup> | 4/2/2026 | (47175) |
|  **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | **Total unrealized depreciation** | (578720) |
|  **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | **Net unrealized depreciation** | (442293) |

---

\*\* *Non-deliverable forward.* 

**Written Put Options Contracts as of September 30, 2025 (Note 1):** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Number of<br>Contracts** | **Notional Amount** | **Notional Amount** | **Exercise Price** | **Exercise Price** | **Expiration<br>Date** | **Value ($)** |
|  U.S. Treasury 30 Year Bond | Exchange<br>Traded | 46 | USD | (4600000) | USD | 106.00 | 10/24/2025 | (719) |
|  Total Written Options Contracts (Premiums Received ($9038)) | Total Written Options Contracts (Premiums Received ($9038)) | Total Written Options Contracts (Premiums Received ($9038)) | Total Written Options Contracts (Premiums Received ($9038)) | Total Written Options Contracts (Premiums Received ($9038)) |  |  |  | (719) |

---

See Notes to Portfolio of Investments.

877

------

**EQ ADVISORS TRUST** 

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2**<br>**Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates, prepayment<br>speeds, credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in determining<br>the fair value of<br>investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Asset-Backed Securities** | $— | $80705767 | $— | $80705767 |
|  **Collateralized Mortgage Obligations** |  | 79142169 |  | 79142169 |
|  **Commercial Mortgage-Backed Securities** |  | 51178842 |  | 51178842 |
|  **Corporate Bonds** |  |  |  |  |
|  Communication Services |  | 11152641 |  | 11152641 |
|  Consumer Discretionary |  | 8441222 |  | 8441222 |
|  Consumer Staples |  | 7561417 |  | 7561417 |
|  Energy |  | 25859395 |  | 25859395 |
|  Financials |  | 82454767 |  | 82454767 |
|  Health Care |  | 12506279 |  | 12506279 |
|  Industrials |  | 10865427 |  | 10865427 |
|  Information Technology |  | 14222693 |  | 14222693 |
|  Materials |  | 4053643 |  | 4053643 |
|  Real Estate |  | 5947110 |  | 5947110 |
|  Utilities |  | 32226413 |  | 32226413 |
|  **Foreign Government Securities** |  | 16257915 |  | 16257915 |
|  **Forward Currency Contracts** |  | 136427 |  | 136427 |
|  **Futures** | 260654 |  |  | 260654 |
|  **Mortgage-Backed Securities** |  | 217260381 |  | 217260381 |
|  **Municipal Bonds** |  | 2544773 |  | 2544773 |
|  **Options Purchased** |  |  |  |  |
|  Put Options Purchased | 3594 |  |  | 3594 |
|  **Short-Term Investments** |  |  |  |  |
|  Commercial Paper |  | 249519 |  | 249519 |
|  Foreign Government Treasury Bills |  | 3263837 |  | 3263837 |
|  Investment Companies | 8768254 |  |  | 8768254 |
|  U.S. Treasury Obligations |  | 375094 |  | 375094 |
|  **Supranational** |  | 4958272 |  | 4958272 |
|  **U.S. Government Agency Securities** |  | 10844374 |  | 10844374 |
|  **U.S. Treasury Obligations** |  | 221684327 |  | 221684327 |
|  **Total Assets** | $**9032502** | $**903892704** | $**—** | $**912925206** |
|  **Liabilities:** |  |  |  |  |
|  **Forward Currency Contracts** | $— | $(578720) | $— | $(578720) |
|  **Futures** | (286381) |  |  | (286381) |
|  **Mortgage-Backed Securities** |  | (2228799) |  | (2228799) |
|  **Options Written** |  |  |  |  |
|  Put Options Written | (719) |  |  | (719) |
|  **Total Liabilities** | $**(287100)** | $**(2807519)** | $**—** | $**(3094619)** |
|  **Total** | $**8745402** | $**901085185** | $**—** | $**909830587** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $9794725 |
|  Aggregate gross unrealized depreciation | (79414776) |
|  Net unrealized depreciation | $(69620051) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $979450638 |

---

See Notes to Portfolio of Investments.

878

------

**EQ ADVISORS TRUST** 

MULTIMANAGER TECHNOLOGY PORTFOLIO

PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  COMMON STOCKS: |  |  |
|  **Communication Services (10.1%)** |  |  |
|  ***Entertainment (1.2%)*** |  |  |
|  Electronic Arts, Inc. | 38370 | $7739229 |
|  Live Nation Entertainment, Inc.\* | 34556 | 5646450 |
|  NetEase, Inc. | 97500 | 2966866 |
|  Playtika Holding Corp. | 1697 | 6601 |
|  ROBLOX Corp., Class A\* | 18201 | 2521203 |
|  Take-Two Interactive Software, Inc.\* | 4893 | 1264155 |
|  Ubisoft Entertainment SA\* | 81185 | 927799 |
|  Universal Music Group NV | 54346 | 1567049 |
|  Warner Music Group Corp., Class A | 46922 | 1598163 |
|  |  | 24237515 |
|  ***Interactive Media & Services (8.8%)*** |  |  |
|  Alphabet, Inc., Class A | 417562 | 101509322 |
|  Alphabet, Inc., Class C | 64076 | 15605710 |
|  Autohome, Inc., Class A | 302548 | 2179122 |
|  Autohome, Inc. (ADR) | 55628 | 1588179 |
|  Baidu, Inc., Class A\* | 65600 | 1122845 |
|  Cargurus, Inc., Class A\* | 2400 | 89352 |
|  IAC, Inc.\* | 1910 | 65074 |
|  LY Corp. | 616100 | 1983468 |
|  Match Group, Inc. | 6790 | 239823 |
|  Meta Platforms, Inc., Class A | 77430 | 56863043 |
|  Pinterest, Inc., Class A\* | 16909 | 543962 |
|  Reddit, Inc., Class A\* | 3494 | 803585 |
|  Rumble, Inc.(x)\* | 3158 | 22864 |
|  Snap, Inc., Class A\* | 31193 | 240498 |
|  TripAdvisor, Inc.\* | 40230 | 654140 |
|  Trump Media & Technology Group |  |  |
|  Corp.(x)\* | 4535 | 74465 |
|  Trustpilot Group plc(m)\* | 221404 | 674143 |
|  Yelp, Inc., Class A\* | 1691 | 52759 |
|  Ziff Davis, Inc.\* | 1157 | 44082 |
|  ZoomInfo Technologies, Inc., Class A\* | 7912 | 86320 |
|  |  | 184442756 |
|  ***Media (0.0%)†*** |  |  |
|  WPP plc | 174153 | 861455 |
|  ***Wireless Telecommunication Services (0.1%)*** |  |  |
|  SK Telecom Co. Ltd. | 59106 | 2287485 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 211829211 |
|  **Consumer Discretionary (2.8%)** |  |  |
|  ***Automobile Components (0.0%)†*** |  |  |
|  Mobileye Global, Inc., Class A\* | 28612 | 404001 |
|  ***Broadline Retail (2.1%)*** |  |  |
|  Alibaba Group Holding Ltd. | 334684 | 7612368 |
|  Amazon.com, Inc.\* | 121177 | 26606834 |
|  MercadoLibre, Inc.\* | 2035 | 4755673 |
|  PDD Holdings, Inc. (ADR)\* | 19512 | 2578901 |
|  Vipshop Holdings Ltd. (ADR) | 144105 | 2830222 |
|  |  | 44383998 |
|  ***Hotels, Restaurants & Leisure (0.6%)*** |  |  |
|  Airbnb, Inc., Class A\* | 24601 | 2987053 |
|  Amadeus IT Group SA | 53228 | 4218232 |
|  HBX Group International plc\* | 121986 | 1029735 |
|  Trainline plc(m)\* | 327084 | 1228188 |
|  Trip.com Group Ltd. | 29624 | 2268828 |
|  |  | 11732036 |
|  ***Household Durables (0.1%)*** |  |  |
|  SharkNinja, Inc.\* | 26577 | 2741418 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 59261453 |
|  **Consumer Staples (0.0%)†** |  |  |
|  ***Consumer Staples Distribution & Retail (0.0%)†*** |  |  |
|  Ocado Group plc\* | 126609 | 383122 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 383122 |
|  **Energy (0.3%)** |  |  |
|  ***Energy Equipment & Services (0.3%)*** |  |  |
|  Baker Hughes Co. | 110275 | 5372598 |
|  TGS ASA | 153178 | 1134305 |
| &nbsp;&nbsp;&nbsp;&nbsp; ***Total Energy*** |  | 6506903 |
|  **Financials (1.6%)** |  |  |
|  ***Financial Services (1.6%)*** |  |  |
|  Adyen NV(m)\* | 4617 | 7399104 |
|  Block, Inc., Class A\* | 74333 | 5372046 |
|  Fidelity National Information |  |  |
|  Services, Inc. | 55088 | 3632503 |
|  Fiserv, Inc.\* | 20616 | 2658021 |
|  Visa, Inc., Class A | 21353 | 7289487 |
|  WEX, Inc.\* | 30719 | 4839164 |
|  Wise plc, Class A\* | 46633 | 649118 |
|  Worldline SA(m)(x)\* | 353045 | 1139854 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 32979297 |
|  **Industrials (0.7%)** |  |  |
|  ***Electrical Equipment (0.2%)*** |  |  |
|  Acuity, Inc. | 7351 | 2531611 |
|  Ushio, Inc.(x) | 80800 | 1272770 |
|  |  | 3804381 |
|  ***Ground Transportation (0.0%)†*** |  |  |
|  Full Truck Alliance Co. Ltd. (ADR) | 69137 | 896707 |
|  ***Industrial Conglomerates (0.1%)*** |  |  |
|  Samsung C&T Corp. | 18630 | 2451159 |
|  ***Machinery (0.2%)*** |  |  |
|  Nabtesco Corp. | 27800 | 629558 |
|  Techtronic Industries Co. Ltd. | 114500 | 1464733 |
|  THK Co. Ltd. | 34400 | 951853 |
|  |  | 3046144 |
|  ***Professional Services (0.2%)*** |  |  |
|  Concentrix Corp.(x) | 25306 | 1167872 |
|  Teleperformance SE(x) | 44113 | 3280433 |
|  |  | 4448305 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 14646696 |
|  **Information Technology (51.9%)** |  |  |
|  ***Communications Equipment (2.4%)*** |  |  |
|  ADTRAN Holdings, Inc.\* | 2079 | 19501 |
|  Applied Optoelectronics, Inc.(x)\* | 1654 | 42888 |
|  Arista Networks, Inc.\* | 118965 | 17334390 |
|  Aviat Networks, Inc.\* | 326 | 7475 |
|  BK Technologies Corp.\* | 106 | 8955 |
|  Calix, Inc.\* | 1677 | 102918 |
|  Ciena Corp.\* | 3989 | 581078 |
|  Cisco Systems, Inc. | 233452 | 15972786 |
|  Clearfield, Inc.(x)\* | 324 | 11139 |
|  CommScope Holding Co., Inc.\* | 6251 | 96765 |
|  Digi International, Inc.\* | 1048 | 38210 |
|  Extreme Networks, Inc.\* | 3727 | 76963 |
|  F5, Inc.\* | 1621 | 523891 |
|  Harmonic, Inc.\* | 3210 | 32678 |
|  Lumentum Holdings, Inc.\* | 1970 | 320539 |
|  Motorola Solutions, Inc. | 4701 | 2149720 |

---

See Notes to Portfolio of Investments.

879

------

**EQ ADVISORS TRUST** 

MULTIMANAGER TECHNOLOGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  NETGEAR, Inc.\* | 819 | $26527 |
|  NetScout Systems, Inc.\* | 1927 | 49774 |
|  Ribbon Communications, Inc.\* | 2599 | 9876 |
|  Telefonaktiebolaget LM Ericsson, Class B(x) | 1499721 | 12399971 |
|  Viasat, Inc.\* | 3789 | 111018 |
|  Viavi Solutions, Inc.\* | 6300 | 79947 |
|  |  | 49997009 |
|  ***Electronic Equipment, Instruments & Components (2.0%)*** |  |  |
|  Advanced Energy Industries, Inc. | 1063 | 180859 |
|  Amphenol Corp., Class A | 34450 | 4263188 |
|  Arlo Technologies, Inc.\* | 2945 | 49918 |
|  Arrow Electronics, Inc.\* | 14991 | 1813911 |
|  Avnet, Inc. | 2367 | 123747 |
|  Badger Meter, Inc. | 832 | 148579 |
|  Belden, Inc. | 1118 | 134462 |
|  Benchmark Electronics, Inc. | 1014 | 39090 |
|  CDW Corp. | 22706 | 3616612 |
|  Celestica, Inc.\* | 3246 | 799749 |
|  Cognex Corp. | 4738 | 214631 |
|  Coherent Corp.\* | 77459 | 8343883 |
|  Corning, Inc. | 21996 | 1804332 |
|  Crane NXT Co.(x) | 1394 | 93496 |
|  CTS Corp. | 832 | 33230 |
|  ePlus, Inc. | 744 | 52831 |
|  Fabrinet\* | 1012 | 368995 |
|  Flex Ltd.\* | 135060 | 7829428 |
|  Insight Enterprises, Inc.\* | 888 | 100708 |
|  IPG Photonics Corp.\* | 715 | 56621 |
|  Itron, Inc.\* | 1290 | 160682 |
|  Jabil, Inc. | 3029 | 657808 |
|  Keysight Technologies, Inc.\* | 4857 | 849586 |
|  Knowles Corp.\* | 2424 | 56503 |
|  Littelfuse, Inc. | 700 | 181307 |
|  Mirion Technologies, Inc., Class A\* | 6431 | 149585 |
|  Murata Manufacturing Co. Ltd. | 138400 | 2634920 |
|  Napco Security Technologies, Inc. | 1007 | 43251 |
|  Novanta, Inc.\* | 1016 | 101752 |
|  OSI Systems, Inc.\* | 446 | 111161 |
|  PAR Technology Corp.(x)\* | 1146 | 45359 |
|  PC Connection, Inc. | 323 | 20023 |
|  Plexus Corp.\* | 762 | 110254 |
|  Rogers Corp.\* | 476 | 38299 |
|  Sanmina Corp.\* | 1504 | 173125 |
|  TD SYNNEX Corp. | 2165 | 354519 |
|  TE Connectivity plc | 8338 | 1830441 |
|  Teledyne Technologies, Inc.\* | 1323 | 775331 |
|  Trimble, Inc.\* | 43997 | 3592355 |
|  TTM Technologies, Inc.\* | 2916 | 167962 |
|  Vishay Intertechnology, Inc. | 3485 | 53320 |
|  Vontier Corp. | 4140 | 173756 |
|  Zebra Technologies Corp., Class A\* | 1435 | 426425 |
|  |  | 42775994 |
|  ***IT Services (3.5%)*** |  |  |
|  Accenture plc, Class A | 54321 | 13395559 |
|  Akamai Technologies, Inc.\* | 29262 | 2216889 |
|  Applied Digital Corp.\* | 6568 | 150670 |
|  ASGN, Inc.\* | 1236 | 58525 |
|  Capgemini SE | 15979 | 2317816 |
|  CGI, Inc. | 5610 | 500019 |
|  Cloudflare, Inc., Class A\* | 8829 | 1894615 |
|  Cognizant Technology Solutions Corp., Class A | 58229 | 3905419 |
|  DigitalOcean Holdings, Inc.\* | 1927 | 65826 |
|  DXC Technology Co.\* | 113725 | 1550072 |
|  EPAM Systems, Inc.\* | 1572 | 237042 |
|  Fastly, Inc., Class A\* | 3910 | 33430 |
|  Gartner, Inc.\* | 2137 | 561753 |
|  GoDaddy, Inc., Class A\* | 3907 | 534595 |
|  Grid Dynamics Holdings, Inc.\* | 1864 | 14371 |
|  International Business Machines Corp. | 26284 | 7416293 |
|  Kyndryl Holdings, Inc.\* | 6522 | 195856 |
|  MongoDB, Inc.\* | 18992 | 5894737 |
|  Okta, Inc.\* | 4717 | 432549 |
|  Shopify, Inc., Class A\* | 103744 | 15417396 |
|  Snowflake, Inc., Class A\* | 37778 | 8520828 |
|  Twilio, Inc., Class A\* | 42142 | 4217993 |
|  VeriSign, Inc. | 2373 | 663420 |
|  Wix.com Ltd.\* | 21640 | 3843913 |
|  |  | 74039586 |
|  ***Semiconductors & Semiconductor Equipment (20.6%)*** |  |  |
|  Advanced Micro Devices, Inc.\* | 181183 | 29313598 |
|  Allegro MicroSystems, Inc.\* | 3499 | 102171 |
|  Alphawave IP Group plc(x)\* | 392062 | 983385 |
|  Ambarella, Inc.\* | 1137 | 93825 |
|  Amkor Technology, Inc. | 3208 | 91107 |
|  ams-OSRAM AG\* | 121649 | 1696255 |
|  Analog Devices, Inc. | 14003 | 3440537 |
|  Applied Materials, Inc. | 61972 | 12688147 |
|  ASM International NV | 7325 | 4392837 |
|  ASML Holding NV | 9213 | 8957162 |
|  ASML Holding NV (Registered) (ADR) | 9488 | 9185238 |
|  ASMPT Ltd. | 592700 | 6249209 |
|  Axcelis Technologies, Inc.\* | 887 | 86607 |
|  BE Semiconductor Industries NV | 54104 | 8057614 |
|  Broadcom, Inc. | 170130 | 56127588 |
|  Cirrus Logic, Inc.\* | 1449 | 181545 |
|  Cohu, Inc.\* | 1318 | 26795 |
|  Credo Technology Group Holding Ltd.\* | 4262 | 620590 |
|  Diodes, Inc.\* | 1311 | 69758 |
|  Enphase Energy, Inc.\* | 3690 | 130589 |
|  Entegris, Inc. | 4278 | 395544 |
|  First Solar, Inc.\* | 23141 | 5103285 |
|  FormFactor, Inc.\* | 2176 | 79250 |
|  Impinj, Inc.\* | 731 | 132128 |
|  Intel Corp.\* | 344021 | 11541905 |
|  KLA Corp. | 3724 | 4016706 |
|  Kulicke & Soffa Industries, Inc. | 1472 | 59822 |
|  Lam Research Corp. | 35711 | 4781703 |
|  Lattice Semiconductor Corp.\* | 3863 | 283235 |
|  MACOM Technology Solutions Holdings, Inc.\* | 1808 | 225078 |
|  Marvell Technology, Inc. | 165396 | 13904842 |
|  MaxLinear, Inc., Class A\* | 2310 | 37145 |
|  Microchip Technology, Inc. | 154664 | 9932522 |
|  Micron Technology, Inc. | 31578 | 5283631 |
|  MKS, Inc. | 39020 | 4829505 |
|  Monolithic Power Systems, Inc. | 6246 | 5750318 |
|  NVIDIA Corp. | 554125 | 103388643 |
|  NXP Semiconductors NV | 54399 | 12388284 |
|  ON Semiconductor Corp.\* | 11540 | 569037 |
|  Onto Innovation, Inc.\* | 1383 | 178711 |
|  Photronics, Inc.\* | 1698 | 38969 |
|  Power Integrations, Inc. | 1583 | 63653 |
|  Qorvo, Inc.\* | 49809 | 4536604 |
|  QUALCOMM, Inc. | 30432 | 5062668 |
|  Rambus, Inc.\* | 3036 | 316351 |
|  Renesas Electronics Corp. | 154400 | 1781157 |
|  Rigetti Computing, Inc.(x)\* | 9147 | 272489 |
|  Semtech Corp.\* | 2445 | 174695 |
|  Silergy Corp. | 486000 | 4114050 |

---

See Notes to Portfolio of Investments.

880

------

**EQ ADVISORS TRUST** 

MULTIMANAGER TECHNOLOGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Silicon Laboratories, Inc.\* | 926 | $121426 |
|  SiTime Corp.\* | 617 | 185908 |
|  SK Hynix, Inc. | 22298 | 5522651 |
|  Skyworks Solutions, Inc. | 54405 | 4188097 |
|  SolarEdge Technologies, Inc.\* | 1676 | 62012 |
|  STMicroelectronics NV | 114028 | 3192909 |
|  SUMCO Corp.(x) | 152500 | 1626213 |
|  Synaptics, Inc.\* | 1088 | 74354 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. | 1339050 | 57335135 |
|  Teradyne, Inc. | 4489 | 617866 |
|  Texas Instruments, Inc. | 84662 | 15554949 |
|  Ultra Clean Holdings, Inc.\* | 1280 | 34880 |
|  Ulvac, Inc. | 58500 | 2551080 |
|  Universal Display Corp. | 1248 | 179250 |
|  Veeco Instruments, Inc.(x)\* | 1698 | 51670 |
|  |  | 433034887 |
|  ***Software (16.8%)*** |  |  |
|  A10 Networks, Inc. | 2036 | 36953 |
|  ACI Worldwide, Inc.\* | 2912 | 153666 |
|  Adeia, Inc. | 3086 | 51845 |
|  Adobe, Inc.\* | 30898 | 10899269 |
|  Agilysys, Inc.\* | 716 | 75359 |
|  Alarm.com Holdings, Inc.\* | 1409 | 74790 |
|  Alkami Technology, Inc.\* | 2203 | 54723 |
|  Appfolio, Inc., Class A\* | 646 | 178076 |
|  Appian Corp., Class A\* | 1140 | 34850 |
|  AppLovin Corp., Class A\* | 7639 | 5488927 |
|  Asana, Inc., Class A(x)\* | 2550 | 34068 |
|  Atlassian Corp., Class A\* | 4663 | 744681 |
|  Aurora Innovation, Inc., Class A\* | 32296 | 174075 |
|  Autodesk, Inc.\* | 43486 | 13814198 |
|  AvePoint, Inc.\* | 3529 | 52970 |
|  Bentley Systems, Inc., Class B | 4204 | 216422 |
|  BILL Holdings, Inc.\* | 2588 | 137086 |
|  Blackbaud, Inc.\* | 1050 | 67525 |
|  BlackBerry Ltd.\* | 15394 | 75123 |
|  BlackLine, Inc.\* | 1467 | 77898 |
|  Box, Inc., Class A\* | 4087 | 131887 |
|  Braze, Inc., Class A\* | 2273 | 64644 |
|  C3.ai, Inc., Class A(x)\* | 3361 | 58280 |
|  Cadence Design Systems, Inc.\* | 7689 | 2700838 |
|  CCC Intelligent Solutions Holdings, Inc.(x)\* | 15620 | 142298 |
|  Cipher Mining, Inc.(x)\* | 8212 | 103389 |
|  Cleanspark, Inc.(x)\* | 7932 | 115014 |
|  Clear Secure, Inc., Class A | 2448 | 81714 |
|  Clearwater Analytics Holdings, Inc., Class A\* | 8125 | 146412 |
|  Commvault Systems, Inc.\* | 1255 | 236919 |
|  Confluent, Inc., Class A\* | 8238 | 163112 |
|  Core Scientific, Inc.\* | 8618 | 154607 |
|  Crowdstrike Holdings, Inc., Class A\* | 7033 | 3448843 |
|  Dassault Systemes SE | 75708 | 2534111 |
|  Datadog, Inc., Class A\* | 9122 | 1298973 |
|  Descartes Systems Group, Inc. (The)\* | 2424 | 228414 |
|  Docusign, Inc.\* | 5702 | 411057 |
|  Dolby Laboratories, Inc., Class A | 1727 | 124983 |
|  Dropbox, Inc., Class A\* | 5223 | 157787 |
|  D-Wave Quantum, Inc.(x)\* | 9555 | 236104 |
|  Dynatrace, Inc.\* | 8508 | 412213 |
|  Elastic NV\* | 41711 | 3524162 |
|  Fair Isaac Corp.\* | 678 | 1014647 |
|  Five9, Inc.\* | 41737 | 1010035 |
|  Fortinet, Inc.\* | 18378 | 1545222 |
|  Freshworks, Inc., Class A\* | 5640 | 66383 |
|  Gen Digital, Inc. | 15814 | 448959 |
|  Gitlab, Inc., Class A(x)\* | 3917 | 176578 |
|  Glodon Co. Ltd., Class A | 567000 | 1119910 |
|  Guidewire Software, Inc.\* | 2376 | 546147 |
|  HubSpot, Inc.\* | 1487 | 695619 |
|  Hut 8 Corp.\* | 2650 | 92246 |
|  Informatica, Inc., Class A\* | 3090 | 76756 |
|  Intapp, Inc.\* | 1577 | 64499 |
|  InterDigital, Inc. | 729 | 251673 |
|  Intuit, Inc. | 27193 | 18570372 |
|  Jamf Holding Corp.\* | 2362 | 25273 |
|  Kingdee International Software Group Co. Ltd.\* | 1203000 | 2708391 |
|  Klaviyo, Inc., Class A\* | 3482 | 96417 |
|  Lightspeed Commerce, Inc.\* | 3499 | 40413 |
|  LiveRamp Holdings, Inc.\* | 1852 | 50263 |
|  Manhattan Associates, Inc.\* | 1707 | 349901 |
|  MARA Holdings, Inc.(x)\* | 10453 | 190872 |
|  Meridianlink, Inc.\* | 1232 | 24554 |
|  Microsoft Corp. | 220300 | 114104385 |
|  N-able, Inc.\* | 2112 | 16474 |
|  nCino, Inc.\* | 2978 | 80734 |
|  NCR Voyix Corp.\* | 3901 | 48958 |
|  NextNav, Inc.\* | 2480 | 35464 |
|  Nice Ltd. (ADR)(x)\* | 24788 | 3588807 |
|  Nutanix, Inc., Class A\* | 25640 | 1907360 |
|  Onestream, Inc., Class A\* | 2214 | 40804 |
|  Open Text Corp. | 7176 | 268239 |
|  Oracle Corp. | 103025 | 28974751 |
|  PagerDuty, Inc.\* | 67120 | 1108822 |
|  Palantir Technologies, Inc., Class A\* | 113734 | 20747356 |
|  Palo Alto Networks, Inc.\* | 18847 | 3837626 |
|  Pegasystems, Inc. | 2607 | 149902 |
|  Procore Technologies, Inc.\* | 43562 | 3176541 |
|  Progress Software Corp.\* | 1217 | 53463 |
|  PROS Holdings, Inc.(x)\* | 1358 | 31112 |
|  PTC, Inc.\* | 3381 | 686411 |
|  Q2 Holdings, Inc.\* | 1762 | 127551 |
|  Qualys, Inc.\* | 1019 | 134844 |
|  Rapid7, Inc.\* | 1626 | 30487 |
|  RingCentral, Inc., Class A\* | 2279 | 64587 |
|  Riot Platforms, Inc.(x)\* | 9103 | 173230 |
|  Roper Technologies, Inc. | 3037 | 1514522 |
|  Rubrik, Inc., Class A\* | 3759 | 309178 |
|  Sage Group plc (The) | 224834 | 3326172 |
|  Salesforce, Inc. | 68070 | 16132590 |
|  Samsara, Inc., Class A\* | 8458 | 315060 |
|  SAP SE (ADR) | 27109 | 7243796 |
|  SEMrush Holdings, Inc., Class A\* | 1261 | 8928 |
|  SentinelOne, Inc., Class A\* | 8983 | 158191 |
|  ServiceNow, Inc.\* | 16276 | 14978477 |
|  SoundHound AI, Inc., Class A(x)\* | 10586 | 170223 |
|  Sprinklr, Inc., Class A\* | 3426 | 26449 |
|  Sprout Social, Inc., Class A\* | 1486 | 19199 |
|  SPS Commerce, Inc.\* | 1070 | 111430 |
|  Strategy, Inc.\* | 7447 | 2399498 |
|  Synopsys, Inc.\* | 46063 | 22727024 |
|  Temenos AG (Registered) | 21006 | 1694096 |
|  Tenable Holdings, Inc.\* | 3417 | 99640 |
|  Teradata Corp.\* | 2667 | 57367 |
|  Terawulf, Inc.(x)\* | 8737 | 99777 |
|  Tyler Technologies, Inc.\* | 1221 | 638778 |
|  UiPath, Inc., Class A\* | 12008 | 160667 |
|  Unity Software, Inc.\* | 9538 | 381901 |
|  Varonis Systems, Inc.\* | 3162 | 181720 |
|  Verint Systems, Inc.\* | 1698 | 34384 |
|  Vertex, Inc., Class A\* | 2073 | 51390 |

---

See Notes to Portfolio of Investments.

881

------

**EQ ADVISORS TRUST** 

MULTIMANAGER TECHNOLOGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br>Shares** | **Value**<br>**(Note 1)** |
|  Workday, Inc., Class A\* | 51621 | $12426723 |
|  Workiva, Inc., Class A\* | 1473 | 126796 |
|  Zeta Global Holdings Corp., Class A\* | 5494 | 109166 |
|  Zoom Communications, Inc., Class A\* | 57072 | 4708440 |
|  Zscaler, Inc.\* | 18547 | 5557794 |
|  |  | 353240679 |
|  ***Technology Hardware, Storage & Peripherals (6.6%)*** |  |  |
|  Apple, Inc. | 391042 | 99571024 |
|  Corsair Gaming, Inc.\* | 1317 | 11748 |
|  Dell Technologies, Inc., Class C | 56889 | 8065154 |
|  Diebold Nixdorf, Inc.\* | 1034 | 58969 |
|  Hewlett Packard Enterprise Co. | 37026 | 909359 |
|  HP, Inc. | 26503 | 721677 |
|  IonQ, Inc.(x)\* | 8376 | 515124 |
|  NetApp, Inc. | 60074 | 7116366 |
|  Pure Storage, Inc., Class A\* | 8761 | 734259 |
|  Quantum Computing, Inc.\* | 3835 | 70602 |
|  Samsung Electronics Co. Ltd. | 141960 | 8488966 |
|  Samsung Electronics Co. Ltd. (Preference)(q) | 169302 | 8012297 |
|  Sandisk Corp.\* | 3895 | 437019 |
|  Seagate Technology Holdings plc | 6001 | 1416596 |
|  Super Micro Computer, Inc.(x)\* | 14146 | 678159 |
|  Western Digital Corp. | 9789 | 1175267 |
|  |  | 137982586 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 1091070741 |
|  **Real Estate (0.4%)** |  |  |
|  ***Real Estate Management & Development (0.2%)*** |  |  |
|  KE Holdings, Inc., Class A | 531397 | 3595249 |
|  KE Holdings, Inc. (ADR) | 12955 | 246145 |
|  |  | 3841394 |
|  ***Specialized REITs (0.2%)*** |  |  |
|  Crown Castle, Inc. (REIT) | 31245 | 3014830 |
|  Equinix, Inc. (REIT) | 3486 | 2730375 |
|  |  | 5745205 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | 9586599 |
|  **Total Common Stocks (67.8%)**<br>(Cost $793,709,904) |  | 1426264022 |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |
|  **Equity (30.9%)** |  |  |
|  iShares Expanded Tech Sector ETF‡ | 1746731 | 220000770 |
|  Technology Select Sector SPDR Fund | 766800 | 216130248 |
|  Vanguard Information Technology ETF | 285800 | 213386854 |
|  **Total Exchange Traded Funds (30.9%)**<br> (*Cost $57,334,641)* |  | 649517872 |
|  SHORT-TERM INVESTMENTS: |  |  |
|  **Investment Companies (0.7%)** |  |  |
|  Dreyfus Treasury Obligations Cash Management Fund 4.00% (7 day yield) (xx) | 7000000 | 7000000 |
|  Invesco Government & Agency Portfolio, Institutional Shares 4.05% (7 day yield) (xx) | 7204907 | 7204907 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Companies** |  | 14204907 |
|  **Total Short-Term Investments (0.7%)***<br>(Cost $14,204,907)* |  | 14204907 |
|  **Total Investments in Securities (99.4%)**<br>*(Cost $865,249,452)* |  | 2089986801 |
|  **Other Assets Less Liabilities (0.6%)** |  | 11674481 |
|  **Net Assets (100%)** |  | $2101661282 |

---

*\** *Non-income producing.* 

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

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

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At September 30, 2025, the market value or fair value, as applicable, of these securities amounted to $10,441,289 or 0.5% of net assets.* 

*(q)* *Preference Shares are a special type of equity investment that shares in the earnings of the company, has limited voting rights, and receives a greater dividend than applicable Common Shares.* 

*(x)* *All or a portion of security is on loan at September 30, 2025.* 

*(xx)* *At September 30, 2025, the Portfolio had loaned securities with a total value of $22,686,659. This was collateralized by $9,479,403 of various U.S. Government Treasury Securities, ranging from 0.000% – 6.125%, maturing 10/9/25 – 5/15/55 and by cash of $14,204,907 which was subsequently invested in investment companies.* 

*Glossary:*

*ADR — American Depositary Receipt*

*REIT — Real Estate Investment Trust*

See Notes to Portfolio of Investments.

882

------

**EQ ADVISORS TRUST** 

MULTIMANAGER TECHNOLOGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

Investments in companies which were affiliates for the nine months ended September 30, 2025, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>September 30,<br>2025** | **Market Value<br>December 31,<br>2024 ($)** | **Purchases at**<br>**Cost ($)** | **Proceeds**<br>**from Sales**<br>**($)** | **Net**<br>**Realized**<br>**Gain**<br>**(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value**<br>**September 30,<br>2025 ($)** | **Dividend/**<br>**Interest<br>Income ($)** | **Capital Gain**<br>**Distributions**<br>**($)** |
|  EXCHANGE TRADED FUNDS (ETF): |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  iShares Expanded Tech Sector ETF | 1746731 | 199343384 | 55861566 | (76586503) | 18759933 | 22622390 | 220000770 | 277525 |  |

---

See Notes to Portfolio of Investments.

883

------

**EQ ADVISORS TRUST** 

MULTIMANAGER TECHNOLOGY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2025 (Unaudited)

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of September 30, 2025:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type** | **Level 1<br>Quoted Prices in Active<br>Markets for Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
|  Communication Services | $197258979 | $14570232 | $— | $211829211 |
|  Consumer Discretionary | 42904102 | 16357351 |  | 59261453 |
|  Consumer Staples |  | 383122 |  | 383122 |
|  Energy | 5372598 | 1134305 |  | 6506903 |
|  Financials | 23791221 | 9188076 |  | 32979297 |
|  Industrials | 4596190 | 10050506 |  | 14646696 |
|  Information Technology | 939374434 | 151696307 |  | 1091070741 |
|  Real Estate | 5991350 | 3595249 |  | 9586599 |
|  **Exchange Traded Funds** | 649517872 |  |  | 649517872 |
|  **Short-Term Investments** |  |  |  |  |
|  Investment Companies | 14204907 |  |  | 14204907 |
|  **Total Assets** | $**1883011653** | $**206975148** | $**—** | $**2089986801** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**1883011653** | $**206975148** | $**—** | $**2089986801** |

---

As of September 30, 2025, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $1245616120 |
|  Aggregate gross unrealized depreciation | (34928703) |
|  Net unrealized appreciation | $1210687417 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $879299384 |

---

See Notes to Portfolio of Investments.

884

------

**EQ ADVISORS TRUST** 

NOTES TO PORTFOLIO OF INVESTMENTS

September 30, 2025 (Unaudited)

Note 1 Valuation

The Board of Trustees (the "Board") of the EQ Advisors Trust (the "Trust") is primarily responsible for overseeing that appropriate valuation methods are used to price securities and other investments for each series (each, a "Portfolio" and collectively, the "Portfolios") of the Trust. Section 2(a)(41) of the Investment Company Act of 1940, as amended (the "1940 Act"), requires portfolios to value their portfolio investments using: (i) the market value of their portfolio securities when market quotations are "readily available" and (ii) the investment's fair value, as determined in good faith by the Board, when a market quotation for a portfolio security is not readily available or if the investment is not a security. Rule 2a-5 under the 1940 Act ("Rule 2a-5") permits the Board to designate a "valuation designee" to perform the fair value determinations for any and all Portfolio investments, subject to Board oversight and certain other requirements designed to facilitate the Board's ability to effectively oversee fair value determinations. Pursuant to Rule 2a-5, the Board designated Equitable Investment Management Group, LLC, the Trust's investment adviser (the "Adviser"), as the Portfolios' valuation designee. As the Portfolios' valuation designee, the Adviser is responsible for determining fair value in good faith for any and all Portfolio investments. The Adviser has adopted pricing procedures ("Pricing Procedures") to establish methods for valuing portfolio securities and other investments held by the Trust and its respective Portfolios, in accordance with Section 2(a)(41) of the 1940 Act and Rule 2a-5. The Board has delegated the responsibility of calculating the net asset values ("NAVs") of each of the Trust's Portfolios and classes pursuant to these Pricing Procedures to the Trust's administrator, Equitable Investment Management, LLC (the "Administrator"). The Administrator has entered into a sub-administration agreement with JPMorgan Chase Bank, N.A. (the "Sub-Administrator"), to assist in performing certain duties, including the calculation of the Portfolios' NAVs. The valuation designee has established a valuation committee (the "Committee") with day-to-day responsibility for, among other things, determining when market values for assets held by the Trust are not readily available, determining the fair value of any such asset and making the actual calculation of the fair value of any such asset in accordance with the Pricing Procedures. The Committee is comprised of senior employees from the Adviser.

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

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

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

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

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

A summary of inputs used to value each Portfolio's assets and liabilities carried at fair value as of September 30, 2025, is included in the Portfolio of Investments for each Portfolio. Changes in valuation techniques may result in transfers in or out of an investment's assigned level.

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

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

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

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

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

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

Accounting for Derivative Instruments:

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

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

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** EQ Advisors Trust

- **b. Investment Company Act file number:** 811-07953

- **c. CIK number of Registrant:** 0001027263

- **d. LEI of Registrant:** 549300Q691FLN6WHB832

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1345 Avenue of the Americas

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10105

  - **Telephone number:** 212-554-1234

**Item A.2. Information about the Series.**

- **a. Name of Series:** EQ/Wellington Energy Portfolio

- **b. EDGAR series identifier (if any):** S000062653

- **c. LEI of Series:** 549300YAVULARVOYUL39

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $137060139.27

**Total Liabilities:** $179199.79

**Net Assets:** $136880939.48

**Cash Not Reported:** $1450714.07

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000203186 | 0.22%                | 1.79%                | 0.22%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $153202.02               | $178226.19                                 |
| Month 2  | $332713.56               | $1481666.55                                |
| Month 3  | $30920.22                | $-5767.30                                  |

### Schedule of Portfolio Investments

| Name                                  | Title                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Shell plc                             | Shell plc                             | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     16093 | NS      | $1151132.29   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ARC Resources Ltd.                    | ARC Resources Ltd.                    | CUSIP: 00208D408<br>LEI: 5493000OCGNQZEVTDT08 | Long             | EC               | CORP              | CA        |    202352 | NS      | $3690230.48   | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                     | Exxon Mobil Corp.                     | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     79328 | NS      | $8944232.00   | 6.53%             |  |  |  | No            |                  1 | On Loan: No      |
| BP plc                                | BP plc                                | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |     51166 | NS      | $1763180.36   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                           | Phillips 66                           | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     16526 | NS      | $2247866.52   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenaris SA                            | Tenaris SA                            | CUSIP: 88031M109<br>LEI: 549300Y7C05BKC4HZB40 | Long             | EC               | CORP              | LU        |     41111 | NS      | $1470540.47   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp.                   | Expand Energy Corp.                   | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     39607 | NS      | $4207847.68   | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy, Inc.                  | NextEra Energy, Inc.                  | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     21545 | NS      | $1626432.05   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenaris SA                            | Tenaris SA                            | CUSIP: N/A<br>LEI: 549300Y7C05BKC4HZB40       | Long             | EC               | CORP              | LU        |     70481 | NS      | $1256945.43   | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)             | Williams Cos., Inc. (The)             | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |    109166 | NS      | $6915666.10   | 5.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA                              | Enel SpA                              | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |     93420 | NS      | $884676.87    | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| First Solar, Inc.                     | First Solar, Inc.                     | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |      5318 | NS      | $1172778.54   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                          | Iberdrola SA                          | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |     72966 | NS      | $1379646.62   | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Southern Co. (The)                    | Southern Co. (The)                    | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     12575 | NS      | $1191732.75   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy, Inc.              | Diamondback Energy, Inc.              | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     21908 | NS      | $3135034.80   | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Ltd.       | Canadian Natural Resources Ltd.       | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |     51892 | NS      | $1658468.32   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro SA                | Petroleo Brasileiro SA - Petrobras    | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EC               | CORP              | BR        |    379980 | NS      | $2403142.81   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Kansai Electric Power Co., Inc. (The) | Kansai Electric Power Co., Inc. (The) | CUSIP: N/A<br>LEI: 353800PFUKP5ONPJNZ86       | Long             | EC               | CORP              | JP        |      8627 | NS      | $123584.54    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Antero Resources Corp.                | Antero Resources Corp.                | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |     42792 | NS      | $1436099.52   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| LUKOIL PJSC                           | LUKOIL PJSC                           | CUSIP: 69343P105<br>LEI: 549300LCJ1UJXHYBWI24 | Long             | EC               | CORP              | RU        |     36704 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Schlumberger NV                       | Schlumberger NV                       | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     62255 | NS      | $2139704.35   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid plc                     | National Grid plc                     | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |     80631 | NS      | $1157603.75   | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| EQT Corp.                             | EQT Corp.                             | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |     87402 | NS      | $4757290.86   | 3.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                         | Chevron Corp.                         | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     77528 | NS      | $12039323.12  | 8.80%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                      | TotalEnergies SE                      | CUSIP: 89151E109<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     46384 | NS      | $2768660.96   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                        | ConocoPhillips                        | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     31438 | NS      | $2973720.42   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co., Inc.     | American Electric Power Co., Inc.     | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     14347 | NS      | $1614037.50   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| E.ON SE                               | E.ON SE                               | CUSIP: N/A<br>LEI: Q9MAIUP40P25UFBFG033       | Long             | EC               | CORP              | DE        |     44815 | NS      | $842630.04    | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Shell plc                             | Shell plc                             | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |    358827 | NS      | $12771649.94  | 9.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Coterra Energy, Inc.                  | Coterra Energy, Inc.                  | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |    219811 | NS      | $5198530.15   | 3.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Cenovus Energy, Inc.                  | Cenovus Energy, Inc.                  | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |     98225 | NS      | $1668842.75   | 1.22%             |  |  |  | No            |                  1 | On Loan: —       |
| ONEOK, Inc.                           | ONEOK, Inc.                           | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |     59211 | NS      | $4320626.67   | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinor ASA                           | Equinor ASA                           | CUSIP: N/A<br>LEI: OW6OFBNCKXC4US5C7523       | Long             | EC               | CORP              | NO        |    157396 | NS      | $3838869.13   | 2.80%             |  |  |  | No            |                  2 | On Loan: No      |
| LUKOIL PJSC                           | LUKOIL PJSC                           | CUSIP: 69343P105<br>LEI: 549300LCJ1UJXHYBWI24 | Long             | EC               | CORP              | RU        |      4472 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| TotalEnergies SE                      | TotalEnergies SE                      | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |     98737 | NS      | $5996654.10   | 4.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Engie SA                              | Engie SA                              | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | EC               | CORP              | FR        |     79894 | NS      | $1712310.80   | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Equinor ASA                           | Equinor ASA                           | CUSIP: 29446M102<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | EC               | CORP              | NO        |     37941 | NS      | $925001.58    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge, Inc.                        | Enbridge, Inc.                        | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |     44089 | NS      | $2224249.97   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group, Inc.                | WEC Energy Group, Inc.                | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |     10738 | NS      | $1230467.42   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp.              | Marathon Petroleum Corp.              | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     41823 | NS      | $8060965.02   | 5.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                                | Sempra                                | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |     28571 | NS      | $2570818.58   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources, Inc.                   | EOG Resources, Inc.                   | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     30192 | NS      | $3385127.04   | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp.                     | Duke Energy Corp.                     | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |      9076 | NS      | $1123155.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp.                          | Cameco Corp.                          | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     17908 | NS      | $1501764.88   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp.                 | Targa Resources Corp.                 | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |     23701 | NS      | $3970865.54   | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** EQ Advisors Trust

**Signature:** Brian Walsh

**Name of Signer:** Brian Walsh

**Title:** Chief Financial Officer and Treasurer