# EDGAR Filing Document

**Accession Number:** 0001397935
**File Stem:** 0001193125-26-149766
**Filing Date:** 2026-4
**Character Count:** 349823
**Document Hash:** 02fbe36103bfd272eba4e71d0f34e11a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-149766.hdr.sgml**: 20260409

**ACCESSION NUMBER**: 0001193125-26-149766

**CONFORMED SUBMISSION TYPE**: N-VPFS

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260409

**DATE AS OF CHANGE**: 20260409

**EFFECTIVENESS DATE**: 20260409

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SEPARATE ACCOUNT NO. 3
- **CENTRAL INDEX KEY:** 0001397933

**ORGANIZATION NAME:**
- **EIN:** 135570651
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-99999
- **FILM NUMBER:** 26852135

**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:** SEPARATE ACCOUNT 3 OF EQUITABLE FINANCIAL LIFE INSURANCE CO
- **DATE OF NAME CHANGE:** 20200615

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SEPARATE ACCOUNT 3 OF AXA EQUITABLE LIFE INSURANCE CO
- **DATE OF NAME CHANGE:** 20070427
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SEPARATE ACCOUNT NO.10
- **CENTRAL INDEX KEY:** 0001397935

**ORGANIZATION NAME:**
- **EIN:** 135570651
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-99999
- **FILM NUMBER:** 26852137

**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:** SEPARATE ACCOUNT 10 OF EQUITABLE FINANCIAL LIFE INSURANCE CO
- **DATE OF NAME CHANGE:** 20200616

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SEPARATE ACCOUNT 10 OF AXA EQUITABLE LIFE INSURANCE CO
- **DATE OF NAME CHANGE:** 20070427
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SEPARATE ACCOUNT NO. 66
- **CENTRAL INDEX KEY:** 0001397937

**ORGANIZATION NAME:**
- **EIN:** 135570651
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-99999
- **FILM NUMBER:** 26852136

**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:** SEPARATE ACCOUNT 66 OF EQUITABLE FINANCIAL LIFE INSURANCE CO
- **DATE OF NAME CHANGE:** 20200616

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SEPARATE ACCOUNT 66 OF AXA EQUITABLE LIFE INSURANCE CO
- **DATE OF NAME CHANGE:** 20070427
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SEPARATE ACCOUNT NO. 4
- **CENTRAL INDEX KEY:** 0001397934

**ORGANIZATION NAME:**
- **EIN:** 135570651
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-99999
- **FILM NUMBER:** 26852139

**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:** SEPARATE ACCOUNT 4 OF EQUITABLE FINANCIAL LIFE INSURANCE CO
- **DATE OF NAME CHANGE:** 20200616

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SEPARATE ACCOUNT 4 OF AXA EQUITABLE LIFE INSURANCE CO
- **DATE OF NAME CHANGE:** 20070427

## Series and Classes Contracts Data

### Separate Account NO. 3 (Series ID: S000018283)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000050403 | Retirement Investment Account |  |
| C000050404 | Members Retirement Plan       |  |

### Separate Account NO. 4 (Series ID: S000018284)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000050406 | Retirement Investment Account |  |
| C000050407 | Members Retirement Plan       |  |

### Separate Account NO. 10 (Series ID: S000018277)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000050395 | Retirement Investment Account |  |
| C000050396 | Members Retirement Plan       |  |

### SEPARATE ACCOUNT NO. 66 (Series ID: S000018280)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000050399 | Retirement Investment Account |  |
| C000050400 | Members Retirement Plan       |  |

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

INDEX TO FINANCIAL STATEMENTS

---

| | |
|:---|:---|
|  [Report of Independent Registered Public Accounting Firm](#fin15721_1) | FSA-2 |
| Financial Statements: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Separate Account No. 10 (POOLED)](#fin15721_3) | FSA-4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Separate Account No. 4 (POOLED)](#fin15721_4) | FSA-18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Separate Account No. 3 (POOLED)](#fin15721_5) | FSA-28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Separate Account No. 66](#fin15721_500) | FSA-33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Notes to Financial Statements](#fin15721_6) | FSA-75 |

---

------

**Report of Independent Registered Public Accounting Firm** 

To the Board of Directors of Equitable Financial Life Insurance Company and the Contractowners of Separate Account No. 10 (Pooled), Separate Account No. 4 (Pooled), Separate Account No. 3 (Pooled) and Separate Account No. 66

***Opinions on the Financial Statements***

We have audited the accompanying (1) statements of assets and liabilities, including the portfolios of investments, of Separate Account No. 10 (Pooled), Separate Account No. 4 (Pooled), and Separate Account No.3 (Pooled) (hereafter collectively referred to as the "Pooled Separate Accounts") as of December 31, 2025, the related statements of operations for the year then ended, and the statements of changes in net assets for each of the two years in the period ended December 31, 2025, and (2) statements of assets and liabilities of each of the variable investment options of Separate Account No. 66 indicated in the table below as of December 31, 2025, and the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, (1) the financial position of each of the Pooled Separate Accounts as of December 31, 2025, the results of each of their operations for the year then ended, and the changes in each of their net assets for each of the two years in the period ended December 31, 2025 and (2) the financial position of each of the variable investment options of Separate Account No. 66 as of December 31, 2025, the results of each of their operations and the changes in each of their net assets for the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;1290 AVANTIS<sup>®</sup> U.S. LARGE CAP GROWTH<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;1290 VT EQUITY INCOME<sup>(1)</sup> EQ/JANUS ENTERPRISE<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;1290 VT GAMCO MERGERS & ACQUISITIONS<sup>(1)</sup> EQ/JPMORGAN GROWTH STOCK<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;1290 VT GAMCO SMALL COMPANY VALUE<sup>(1)</sup> EQ/JPMORGAN VALUE OPPORTUNITIES<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;1290 VT SOCIALLY RESPONSIBLE<sup>(1)</sup> EQ/LARGE CAP GROWTH INDEX<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;AMERICAN FUNDS IS<sup>®</sup> 2020 TARGET DATE FUND<sup>(2)</sup> EQ/LARGE CAP GROWTH MANAGED VOLATILITY<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;AMERICAN FUNDS IS<sup>®</sup> 2025 TARGET DATE FUND<sup>(3)</sup> EQ/LARGE CAP VALUE MANAGED VOLATILITY<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;AMERICAN FUNDS IS<sup>®</sup> 2030 TARGET DATE FUND<sup>(2)</sup> EQ/MFS INTERNATIONAL GROWTH<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;AMERICAN FUNDS IS<sup>®</sup> 2035 TARGET DATE FUND<sup>(3)</sup> EQ/MID CAP INDEX<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;AMERICAN FUNDS IS<sup>®</sup> 2040 TARGET DATE FUND<sup>(2)</sup> EQ/MID CAP VALUE MANAGED VOLATILITY<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;AMERICAN FUNDS IS<sup>®</sup> 2045 TARGET DATE FUND<sup>(2)</sup> EQ/MODERATE ALLOCATION<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;AMERICAN FUNDS IS<sup>®</sup> 2050 TARGET DATE FUND<sup>(2)</sup> EQ/MODERATE-PLUS ALLOCATION<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;AMERICAN FUNDS IS<sup>®</sup> 2055 TARGET DATE FUND<sup>(3)</sup> EQ/MONEY MARKET<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;AMERICAN FUNDS IS<sup>®</sup> 2060 TARGET DATE FUND<sup>(3)</sup> EQ/PIMCO GLOBAL REAL RETURN<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;AMERICAN FUNDS IS<sup>®</sup> 2065 TARGET DATE FUND<sup>(2)</sup> EQ/PIMCO ULTRA SHORT BOND<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;AMERICAN FUNDS IS<sup>®</sup> 2070 TARGET DATE FUND<sup>(2)</sup> EQ/QUALITY BOND PLUS<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/AB SMALL CAP GROWTH<sup>(1)</sup> EQ/SMALL COMPANY INDEX<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/AGGRESSIVE ALLOCATION<sup>(1)</sup> EQUITABLE CONSERVATIVE GROWTH MF/ETF<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/ALL ASSET GROWTH ALLOCATION<sup>(1)</sup> MULTIMANAGER CORE BOND<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/CAPITAL GROUP RESEARCH<sup>(1)</sup> MULTIMANAGER TECHNOLOGY<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/CLEARBRIDGE LARGE CAP GROWTH ESG<sup>(1)</sup> TARGET 2015 ALLOCATION<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/CONSERVATIVE ALLOCATION<sup>(1)</sup> TARGET 2025 ALLOCATION<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/CONSERVATIVE-PLUS ALLOCATION<sup>(1)</sup> TARGET 2035 ALLOCATION<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/CORE PLUS BOND<sup>(1)</sup> TARGET 2045 ALLOCATION<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/EQUITY 500 INDEX<sup>(1)</sup> TARGET 2055 ALLOCATION<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/GLOBAL EQUITY MANAGED VOLATILITY<sup>(1)</sup> VANGUARD VARIABLE INSURANCE FUND TOTAL BOND MARKET INDEX PORTFOLIO<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/INTERMEDIATE GOVERNMENT BOND<sup>(1)</sup> VANGUARD VARIABLE INSURANCE FUND TOTAL STOCK MARKET INDEX PORTFOLIO<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;EQ/INTERNATIONAL CORE MANAGED VOLATILITY<sup>(1)</sup> |

---

(1) Statement of operations for the year ended December 31, 2025, and statement of changes in net assets for the years ended December 31, 2025 and 2024.

(2) Statement of operations for the year ended December 31, 2025, and statement of changes in net assets for the year ended December 31, 2025.

(3) Statement of operations for the year ended December 31, 2025, and statement of changes in net assets for the year ended December 31, 2025 and the period October 18, 2024 (commencement of operations)
through December 31, 2024.

------

***Basis for Opinions***

These financial statements are the responsibility of the Equitable Financial Life Insurance Company management. Our responsibility is to express an opinion on the financial statements of each of the Pooled Separate Accounts and variable investment options of Separate Account No. 66 based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to each of the Pooled Separate Accounts and variable investment options of Separate Account No. 66 in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of investments owned as of December 31, 2025 by correspondence with the custodians and transfer agents of the investee mutual funds. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

New York, New York

April 9, 2026

We have served as the auditor of Separate Account No. 10 (Pooled) since 1993. We have served as the auditor of Separate Account No. 4 (Pooled) since 1993. We have served as the auditor of Separate Account No. 3 (Pooled) since 1993. We have served as the auditor of one or more of the variable investment options of Separate Account No. 66 since 1997.

------

**SEPARATE ACCOUNT NO. 10 (POOLED)** 

**STATEMENT OF ASSETS AND LIABILITIES** 

**DECEMBER 31, 2025** 

---

| | | |
|:---|:---|:---|
|  **Assets:** |  |  |
|  Investments (Notes 2 and 3): |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks — at fair value (cost: $7,964,708) |  | $9760081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-term debt securities — at fair value (amortized cost: $6,692,176) |  | 6527139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term debt securities — at fair value (amortized cost: $494,519) |  | 494519 |
|  Cash |  | 458038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign cash (cost: $9,593) |  | 9621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest and dividends receivable |  | 57502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fees receivable from contractowners |  | 4863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from Equitable Financial's General Account |  | 4861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable from investment securities sold |  | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets |  | 17316650 |
|  **Liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for investments securities sold |  | 927457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued custody and bank fees |  | 14235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset management fee payable |  | 11288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued Expenses |  | 11772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities |  | 964752 |
|  **Net Assets Attributable to Contractowners or in Accumulation** |  | $16351898 |
|  | **Units Outstanding** | **Unit<br>Values** |
|  Institutional | 0.03 | $76382.62 |
|  RIA | 1805.32 | 651.86 |
|  MRP | 96156.85 | 155.92 |
|  EPP | 269.78 | 698.95 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 10 (POOLED)** 

**STATEMENT OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2025** 

---

| | |
|:---|:---|
|  **Investment Income (Note 2):** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends (net of foreign taxes withheld of $8,661) | $158689 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest | 268538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total investment income | 427227 |
|  **Expenses (Note 6):** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees | (80913) |
| &nbsp;&nbsp;&nbsp;&nbsp; Custody and bank fees | (37778) |
| &nbsp;&nbsp;&nbsp;&nbsp; Other operating expenses | (22231) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total expenses | (140922) |
|  **Net Investment Income (Loss)** | 286305 |
|  **Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions (Note 2):** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) from investments and foreign currency transactions | 1745158 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments and foreign currency denominated assets and liabilities | 457137 |
|  **Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions** | 2202295 |
|  **Net Increase (Decrease) in Net Assets Attributable to Operations** | $2488600 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 10 (POOLED)** 

**STATEMENTS OF CHANGES IN NET ASSETS** 

---

| | | |
|:---|:---|:---|
|  | **Year Ended<br>December 31, 2025** | **Year Ended<br>December 31, 2024** |
|  **Increase (Decrease) in Net Assets:** |  |  |
|  **From Operations:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $286305 | $304937 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments and foreign currency transactions | 1745158 | 1517931 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments and foreign currency denominated assets and liabilities | 457137 | (210256) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in assets attributable to operations | 2488600 | 1612612 |
|  **From Contractowners Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Contributions | 1012825 | 618435 |
| &nbsp;&nbsp;&nbsp;&nbsp; Withdrawals | (2773887) | (3317829) |
| &nbsp;&nbsp;&nbsp;&nbsp; Asset management fees (Note 6) | (58224) | (58122) |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees (Note 6) | (95142) | (97837) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets attributable to contractowners transactions | (1914428) | (2855353) |
|  **Increase (Decrease) in Net Assets** | 574172 | (1242741) |
|  **Net Assets Attributable to Contractowners or in Accumulation — Beginning of Year** | 15777726 | 17020467 |
|  **Net Assets Attributable to Contractowners or in Accumulation — End of Year** | $16351898 | $15777726 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 10 (POOLED)** 

**PORTFOLIO OF INVESTMENTS** 

**DECEMBER 31, 2025** 

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **COMMON STOCKS — 59.7%** | **COMMON STOCKS — 59.7%** | **COMMON STOCKS — 59.7%** |
|  **Information Technology — 17.2%** | **Information Technology — 17.2%** | **Information Technology — 17.2%** |
|  **Communications Equipment — 0.6%** | **Communications Equipment — 0.6%** | **Communications Equipment — 0.6%** |
|  Arista Networks, Inc.<sup>(a)</sup> | 285 | $37343 |
|  Cisco Systems, Inc. | 790 | 60854 |
|  |  | 98197 |
|  **Electronic Equipment, Instruments & Components — 0.8%** | **Electronic Equipment, Instruments & Components — 0.8%** | **Electronic Equipment, Instruments & Components — 0.8%** |
|  Amphenol Corp. — Class A | 147 | 19866 |
|  Flex Ltd.<sup>(a)</sup> | 1025 | 61930 |
|  Halma PLC | 282 | 13420 |
|  Zebra Technologies Corp. — Class A<sup>(a)</sup> | 115 | 27924 |
|  |  | 123140 |
|  **IT Services – 0.6%** | **IT Services – 0.6%** | **IT Services – 0.6%** |
|  Accenture PLC — Class A | 173 | 46416 |
|  International Business Machines Corp. | 80 | 23697 |
|  Shopify, Inc.<sup>(a)</sup> | 64 | 10302 |
|  Shopify, Inc. — Class A<sup>(a)</sup> | 140 | 22572 |
|  |  | 102987 |
|  **Semiconductors & Semiconductor Equipment — 6.9%** | **Semiconductors & Semiconductor Equipment — 6.9%** | **Semiconductors & Semiconductor Equipment — 6.9%** |
|  Advanced Micro Devices, Inc.<sup>(a)</sup> | 119 | 25485 |
|  Analog Devices, Inc. | 63 | 17086 |
|  Applied Materials, Inc. | 173 | 44459 |
|  ASML Holding NV | 61 | 66010 |
|  Broadcom, Inc. | 530 | 183433 |
|  Intel Corp.<sup>(a)</sup> | 1159 | 42767 |
|  KLA Corp. | 13 | 15796 |
|  Lam Research Corp. | 320 | 54778 |
|  Micron Technology, Inc. | 206 | 58794 |
|  NVIDIA Corp. | 2857 | 532831 |
|  NXP Semiconductors NV | 49 | 10636 |
|  QUALCOMM, Inc. | 282 | 48236 |
|  Texas Instruments, Inc. | 200 | 34698 |
|  |  | 1135009 |
|  **Software — 5.1%** | **Software — 5.1%** | **Software — 5.1%** |
|  Adobe, Inc.<sup>(a)</sup> | 173 | 60548 |
|  AppLovin Corp. — Class A<sup>(a)</sup> | 24 | 16172 |
|  Cadence Design Systems, Inc.<sup>(a)</sup> | 33 | 10315 |
|  Crowdstrike Holdings, Inc. — Class A<sup>(a)</sup> | 68 | 31876 |
|  Intuit, Inc. | 49 | 32459 |
|  Microsoft Corp. | 844 | 408175 |
|  Oracle Corp. | 197 | 38397 |
|  Palantir Technologies, Inc. — Class A<sup>(a)</sup> | 287 | 51014 |
|  Palo Alto Networks, Inc.<sup>(a)</sup> | 83 | 15289 |
|  Roper Technologies, Inc. | 69 | 30714 |
|  Salesforce, Inc. | 220 | 58280 |
|  SAP SE | 238 | 58238 |
|  ServiceNow, Inc.<sup>(a)</sup> | 120 | 18383 |
|  |  | 829860 |
|  **Technology Hardware, Storage & Peripherals — 3.2%** | **Technology Hardware, Storage & Peripherals — 3.2%** | **Technology Hardware, Storage & Peripherals — 3.2%** |
|  Apple, Inc. | 1765 | 479833 |
|  Sandisk Corp.<sup>(a)</sup> | 45 | 10682 |
|  Western Digital Corp. | 201 | 34626 |
|  |  | 525141 |
|  Total Information Technology |  | 2814334 |

---

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **Financials — 9.1%** | **Financials — 9.1%** | **Financials — 9.1%** |
|  **Banks — 3.8%** | **Banks — 3.8%** | **Banks — 3.8%** |
|  Banco Bilbao Vizcaya Argentaria SA | 495 | $11656 |
|  Banco Santander SA | 4187 | 49518 |
|  Bank of America Corp. | 1370 | 75350 |
|  BNP Paribas SA | 418 | 39661 |
|  Citigroup, Inc. | 464 | 54144 |
|  Commonwealth Bank of Australia | 177 | 18953 |
|  DBS Group Holdings Ltd. | 900 | 39443 |
|  HSBC Holdings PLC | 3710 | 58574 |
|  Intesa Sanpaolo SpA | 6020 | 41863 |
|  JPMorgan Chase & Co. | 259 | 83407 |
|  Mitsubishi UFJ Financial Group, Inc. | 1300 | 20676 |
|  Resona Holdings, Inc. | 1500 | 14288 |
|  Royal Bank of Canada | 149 | 25435 |
|  Sumitomo Mitsui Financial Group, Inc. | 500 | 16080 |
|  UniCredit SpA | 489 | 40730 |
|  Wells Fargo & Co. | 393 | 36628 |
|  |  | 626406 |
|  **Capital Markets — 1.6%** | **Capital Markets — 1.6%** | **Capital Markets — 1.6%** |
|  Blackrock, Inc. | 14 | 14985 |
|  Brookfield Corp. | 808 | 37148 |
|  Cboe Global Markets, Inc. | 44 | 11044 |
|  Charles Schwab Corp. (The) | 218 | 21780 |
|  CME Group, Inc. | 48 | 13108 |
|  CVC Capital Partners PLC | 565 | 9489 |
|  Goldman Sachs Group, Inc. (The) | 36 | 31644 |
|  Jefferies Financial Group, Inc. | 168 | 10411 |
|  Julius Baer Group Ltd. | 151 | 11893 |
|  London Stock Exchange Group PLC | 80 | 9633 |
|  LPL Financial Holdings, Inc. | 27 | 9643 |
|  Morgan Stanley | 126 | 22369 |
|  Partners Group Holding AG | 7 | 8680 |
|  UBS Group AG (REG) | 1063 | 49591 |
|  |  | 261418 |
|  **Consumer Finance — 0.1%** | **Consumer Finance — 0.1%** | **Consumer Finance — 0.1%** |
|  American Express Co. | 67 | 24787 |
|  **Financial Services — 1.4%** | **Financial Services — 1.4%** | **Financial Services — 1.4%** |
|  Berkshire Hathaway, Inc. — Class B<sup>(a)</sup> | 166 | 83440 |
|  Eurazeo SE | 158 | 9890 |
|  Fiserv, Inc.<sup>(a)</sup> | 400 | 26868 |
|  Mastercard, Inc. — Class A | 63 | 35965 |
|  Visa, Inc. — Class A | 191 | 66986 |
|  |  | 223149 |
|  **Insurance — 2.2%** | **Insurance — 2.2%** | **Insurance — 2.2%** |
|  AIA Group Ltd. | 1400 | 14371 |
|  Allianz SE (REG) | 47 | 21555 |
|  AXA SA | 554 | 26650 |
|  Beazley PLC | 2863 | 32039 |
|  Everest Group Ltd. | 72 | 24433 |
|  F&G Annuities & Life, Inc. | 63 | 1933 |
|  Fidelity National Financial, Inc. | 1044 | 56992 |
|  Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (REG) | 53 | 34995 |
|  Progressive Corp. (The) | 152 | 34613 |
|  Prudential PLC | 4011 | 61746 |
|  Willis Towers Watson PLC | 28 | 9201 |
|  Zurich Insurance Group AG | 47 | 35702 |
|  |  | 354230 |
|  Total Financials |  | 1489990 |

---

------

**SEPARATE ACCOUNT NO. 10 (POOLED)** 

**PORTFOLIO OF INVESTMENTS (Continued)** 

**DECEMBER 31, 2025** 

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **Health Care — 6.9%** | **Health Care — 6.9%** | **Health Care — 6.9%** |
|  **Biotechnology — 0.6%** | **Biotechnology — 0.6%** | **Biotechnology — 0.6%** |
|  AbbVie, Inc. | 215 | $49066 |
|  Amgen, Inc. | 63 | 20621 |
|  Gilead Sciences, Inc. | 226 | 27739 |
|  |  | 97426 |
|  **Health Care Equipment & Supplies — 1.0%** | **Health Care Equipment & Supplies — 1.0%** | **Health Care Equipment & Supplies — 1.0%** |
|  Abbott Laboratories | 148 | 18543 |
|  Alcon AG | 307 | 24521 |
|  Dexcom, Inc.<sup>(a)</sup> | 164 | 10885 |
|  Envista Holdings Corp.<sup>(a)</sup> | 489 | 10616 |
|  Intuitive Surgical, Inc.<sup>(a)</sup> | 33 | 18690 |
|  Medtronic PLC | 455 | 43707 |
|  STERIS PLC | 38 | 9634 |
|  Stryker Corp. | 46 | 16168 |
|  Terumo Corp. | 600 | 8689 |
|  |  | 161453 |
|  **Health Care Providers & Services — 1.2%** | **Health Care Providers & Services — 1.2%** | **Health Care Providers & Services — 1.2%** |
|  CVS Health Corp. | 484 | 38410 |
|  Elevance Health, Inc. | 147 | 51531 |
|  Labcorp Holdings, Inc. | 239 | 59960 |
|  McKesson Corp. | 13 | 10664 |
|  UnitedHealth Group, Inc. | 118 | 38953 |
|  |  | 199518 |
|  **Life Sciences Tools & Services — 0.4%** | **Life Sciences Tools & Services — 0.4%** | **Life Sciences Tools & Services — 0.4%** |
|  ICON PLC<sup>(a)</sup> | 190 | 34622 |
|  Thermo Fisher Scientific, Inc. | 43 | 24916 |
|  |  | 59538 |
|  **Pharmaceuticals — 3.7%** | **Pharmaceuticals — 3.7%** | **Pharmaceuticals — 3.7%** |
|  AstraZeneca PLC | 143 | 26524 |
|  Bristol-Myers Squibb Co. | 275 | 14833 |
|  Eli Lilly & Co. | 67 | 72004 |
|  Galderma Group AG | 127 | 25985 |
|  GSK PLC | 1571 | 38553 |
|  Haleon PLC | 2140 | 10788 |
|  Johnson & Johnson | 189 | 39114 |
|  Merck & Co., Inc. | 823 | 86629 |
|  Novartis AG (REG) | 403 | 55751 |
|  Pfizer, Inc. | 1705 | 42454 |
|  Roche Holding AG (Genusschein) | 210 | 86995 |
|  Royalty Pharma PLC — Class A | 1593 | 61554 |
|  Sanofi SA | 384 | 37306 |
|  Zoetis, Inc. | 81 | 10191 |
|  |  | 608681 |
|  Total Health Care |  | 1126616 |
|  **Consumer Discretionary — 5.9%** | **Consumer Discretionary — 5.9%** | **Consumer Discretionary — 5.9%** |
|  **Automobile Components — 0.3%** | **Automobile Components — 0.3%** | **Automobile Components — 0.3%** |
|  Aptiv PLC<sup>(a)</sup> | 720 | 54785 |
|  **Automobiles — 1.5%** | **Automobiles — 1.5%** | **Automobiles — 1.5%** |
|  Honda Motor Co., Ltd. | 4700 | 46057 |
|  Tesla, Inc.<sup>(a)</sup> | 339 | 152455 |
|  Toyota Motor Corp. | 2500 | 53527 |
|  |  | 252039 |

---

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **Broadline Retail — 2.0%** | **Broadline Retail — 2.0%** | **Broadline Retail — 2.0%** |
|  Amazon.com, Inc.<sup>(a)</sup> | 1107 | $255518 |
|  Cie Financiere Richemont SA (REG) | 180 | 39090 |
|  Prosus NV | 561 | 34821 |
|  |  | 329429 |
|  **Diversified Consumer Services — 0.1%** | **Diversified Consumer Services — 0.1%** | **Diversified Consumer Services — 0.1%** |
|  Service Corp. International/US | 219 | 17075 |
|  **Hotels, Restaurants & Leisure — 0.5%** | **Hotels, Restaurants & Leisure — 0.5%** | **Hotels, Restaurants & Leisure — 0.5%** |
|  Booking Holdings, Inc. | 5 | 26777 |
|  Flutter Entertainment PLC<sup>(a)</sup> | 48 | 10322 |
|  Marriott International, Inc. — Class A | 37 | 11479 |
|  McDonald's Corp. | 94 | 28729 |
|  |  | 77307 |
|  **Household Durables — 0.4%** | **Household Durables — 0.4%** | **Household Durables — 0.4%** |
|  Sony Group Corp. | 1400 | 35941 |
|  Taylor Morrison Home Corp.<sup>(a)</sup> | 360 | 21193 |
|  |  | 57134 |
|  **Specialty Retail — 0.7%** | **Specialty Retail — 0.7%** | **Specialty Retail — 0.7%** |
|  Bath & Body Works, Inc. | 436 | 8755 |
|  Home Depot, Inc. (The) | 70 | 24087 |
|  Industria de Diseno Textil SA | 183 | 12109 |
|  JD Sports Fashion PLC | 18329 | 20822 |
|  Lowe's Cos., Inc. | 82 | 19775 |
|  TJX Cos., Inc. (The) | 133 | 20430 |
|  |  | 105978 |
|  **Textiles, Apparel & Luxury Goods — 0.4%** | **Textiles, Apparel & Luxury Goods — 0.4%** | **Textiles, Apparel & Luxury Goods — 0.4%** |
|  LVMH Moet Hennessy Louis Vuitton SE | 24 | 18180 |
|  Tapestry, Inc. | 389 | 49703 |
|  |  | 67883 |
|  Total Consumer Discretionary |  | 961630 |
|  **Industrials — 5.8%** | **Industrials — 5.8%** | **Industrials — 5.8%** |
|  **Aerospace & Defense — 1.3%** | **Aerospace & Defense — 1.3%** | **Aerospace & Defense — 1.3%** |
|  Airbus SE | 76 | 17709 |
|  BAE Systems PLC | 2290 | 52794 |
|  Boeing Co. (The)<sup>(a)</sup> | 89 | 19323 |
|  General Electric Co. | 128 | 39428 |
|  Hexcel Corp. | 523 | 38650 |
|  Melrose Industries PLC | 6043 | 47826 |
|  |  | 215730 |
|  **Air Freight & Logistics — 0.1%** | **Air Freight & Logistics — 0.1%** | **Air Freight & Logistics — 0.1%** |
|  DSV A/S | 47 | 11936 |
|  **Building Products — 0.2%** | **Building Products — 0.2%** | **Building Products — 0.2%** |
|  Carrier Global Corp. | 512 | 27054 |
|  Otis Worldwide Corp. | 111 | 9696 |
|  |  | 36750 |
|  **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** |
|  Tetra Tech, Inc. | 312 | 10464 |
|  Veralto Corp. | 115 | 11475 |
|  Waste Management, Inc. | 50 | 10986 |
|  |  | 32925 |

---

------

**SEPARATE ACCOUNT NO. 10 (POOLED)** 

**PORTFOLIO OF INVESTMENTS (Continued)** 

**DECEMBER 31, 2025** 

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **Construction & Engineering — 0.5%** | **Construction & Engineering — 0.5%** | **Construction & Engineering — 0.5%** |
|  AECOM | 257 | $24500 |
|  MasTec, Inc.<sup>(a)</sup> | 53 | 11521 |
|  Shimizu Corp. | 2300 | 39156 |
|  WSP Global, Inc. | 54 | 9790 |
|  |  | 84967 |
|  **Electrical Equipment — 0.7%** | **Electrical Equipment — 0.7%** | **Electrical Equipment — 0.7%** |
|  ABB Ltd. (REG) | 565 | 42233 |
|  Emerson Electric Co. | 76 | 10087 |
|  GE Vernova, Inc. | 75 | 49018 |
|  Prysmian SpA | 99 | 10043 |
|  Rockwell Automation, Inc. | 33 | 12839 |
|  |  | 124220 |
|  **Ground Transportation — 0.5%** | **Ground Transportation — 0.5%** | **Ground Transportation — 0.5%** |
|  Keisei Electric Railway Co., Ltd. | 2100 | 17269 |
|  Uber Technologies, Inc.<sup>(a)</sup> | 235 | 19202 |
|  Union Pacific Corp. | 178 | 41175 |
|  |  | 77646 |
|  **Industrial Conglomerates — 0.4%** | **Industrial Conglomerates — 0.4%** | **Industrial Conglomerates — 0.4%** |
|  Hitachi Ltd. | 1400 | 43783 |
|  Siemens AG (REG) | 74 | 20785 |
|  |  | 64568 |
|  **Machinery — 1.2%** | **Machinery — 1.2%** | **Machinery — 1.2%** |
|  Caterpillar, Inc. | 60 | 34372 |
|  CNH Industrial NV | 2319 | 21381 |
|  Deere & Co. | 82 | 38177 |
|  PACCAR, Inc. | 309 | 33839 |
|  Parker-Hannifin Corp. | 24 | 21095 |
|  Toyota Industries Corp. | 400 | 45424 |
|  |  | 194288 |
|  **Marine Transportation — 0.2%** | **Marine Transportation — 0.2%** | **Marine Transportation — 0.2%** |
|  Kirby Corp.<sup>(a)</sup> | 301 | 33164 |
|  **Professional Services — 0.5%** | **Professional Services — 0.5%** | **Professional Services — 0.5%** |
|  Experian PLC | 215 | 9725 |
|  Leidos Holdings, Inc. | 285 | 51414 |
|  RELX PLC (London) | 238 | 9668 |
|  Robert Half, Inc. | 294 | 7985 |
|  |  | 78792 |
|  Total Industrials |  | 954986 |
|  **Communication Services — 5.8%** | **Communication Services — 5.8%** | **Communication Services — 5.8%** |
|  **Diversified Telecommunication Services — 1.0%** | **Diversified Telecommunication Services — 1.0%** | **Diversified Telecommunication Services — 1.0%** |
|  AT&T, Inc. | 1752 | 43519 |
|  Comcast Corp. — Class A | 1290 | 38558 |
|  Deutsche Telekom AG (REG) | 1170 | 38008 |
|  Verizon Communications, Inc. | 1067 | 43459 |
|  |  | 163544 |
|  **Entertainment — 0.7%** | **Entertainment — 0.7%** | **Entertainment — 0.7%** |
|  Netflix, Inc.<sup>(a)</sup> | 555 | 52037 |
|  Nintendo Co., Ltd. | 200 | 13519 |
|  Spotify Technology SA<sup>(a)</sup> | 38 | 22067 |
|  Walt Disney Co. (The) | 212 | 24119 |
|  |  | 111742 |

---

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **Interactive Media & Services — 3.6%** | **Interactive Media & Services — 3.6%** | **Interactive Media & Services — 3.6%** |
|  Alphabet, Inc. — Class A | 670 | $209710 |
|  Alphabet, Inc. — Class C | 565 | 177297 |
|  Auto Trader Group PLC | 3478 | 27432 |
|  Meta Platforms, Inc. — Class A | 250 | 165023 |
|  Rightmove PLC | 1146 | 8009 |
|  |  | 587471 |
|  **Wireless Telecommunication Services — 0.5%** | **Wireless Telecommunication Services — 0.5%** | **Wireless Telecommunication Services — 0.5%** |
|  SoftBank Group Corp. | 400 | 11228 |
|  T-Mobile US, Inc. | 339 | 68831 |
|  |  | 80059 |
|  Total Communication Services |  | 942816 |
|  **Consumer Staples — 3.1%** | **Consumer Staples — 3.1%** | **Consumer Staples — 3.1%** |
|  **Beverages — 1.0%** | **Beverages — 1.0%** | **Beverages — 1.0%** |
|  Anheuser-Busch InBev SA/NV | 649 | 41846 |
|  Asahi Group Holdings Ltd. | 5500 | 57528 |
|  Coca-Cola Co. (The) | 491 | 34326 |
|  Coca-Cola Europacific Partners PLC | 111 | 10068 |
|  PepsiCo, Inc. | 129 | 18514 |
|  |  | 162282 |
|  **Consumer Staples Distribution & Retail — 0.7%** | **Consumer Staples Distribution & Retail — 0.7%** | **Consumer Staples Distribution & Retail — 0.7%** |
|  Costco Wholesale Corp. | 32 | 27595 |
|  Dollar Tree, Inc.<sup>(a)</sup> | 369 | 45391 |
|  Walmart, Inc. | 354 | 39439 |
|  |  | 112425 |
|  **Food Products — 0.6%** | **Food Products — 0.6%** | **Food Products — 0.6%** |
|  Danone SA | 435 | 39226 |
|  Nestle SA (REG) | 404 | 40153 |
|  Toyo Suisan Kaisha Ltd. | 400 | 27433 |
|  |  | 106812 |
|  **Household Products — 0.2%** | **Household Products — 0.2%** | **Household Products — 0.2%** |
|  Procter & Gamble Co. (The) | 194 | 27802 |
|  **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** |
|  Kenvue, Inc. | 838 | 14455 |
|  **Tobacco — 0.5%** | **Tobacco — 0.5%** | **Tobacco — 0.5%** |
|  Altria Group, Inc. | 604 | 34827 |
|  British American Tobacco PLC | 650 | 36842 |
|  Philip Morris International, Inc. | 110 | 17644 |
|  |  | 89313 |
|  Total Consumer Staples |  | 513089 |
|  **Energy — 1.9%** | **Energy — 1.9%** | **Energy — 1.9%** |
|  **Energy Equipment & Services — 0.2%** | **Energy Equipment & Services — 0.2%** | **Energy Equipment & Services — 0.2%** |
|  Schlumberger NV | 308 | 11821 |
|  Shell PLC | 299 | 11053 |
|  Vallourec SACA | 924 | 17026 |
|  |  | 39900 |
|  **Oil, Gas & Consumable Fuels — 1.7%** | **Oil, Gas & Consumable Fuels — 1.7%** | **Oil, Gas & Consumable Fuels — 1.7%** |
|  Cameco Corp. | 119 | 10887 |
|  Chevron Corp. | 366 | 55782 |
|  ConocoPhillips | 100 | 9361 |
|  Exxon Mobil Corp. | 787 | 94708 |
|  Shell PLC | 2063 | 76031 |
|  TotalEnergies SE | 345 | 22524 |
|  |  | 269293 |
|  Total Energy |  | 309193 |

---

------

**SEPARATE ACCOUNT NO. 10 (POOLED)** 

**PORTFOLIO OF INVESTMENTS (Continued)** 

**DECEMBER 31, 2025** 

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **Materials — 1.7%** | **Materials — 1.7%** | **Materials — 1.7%** |
|  **Chemicals — 0.2%** | **Chemicals — 0.2%** | **Chemicals — 0.2%** |
|  Linde PLC | 35 | $14924 |
|  LyondellBasell Industries NV — Class A | 224 | 9699 |
|  Nissan Chemical Corp. | 300 | 10264 |
|  |  | 34887 |
|  **Construction Materials — 0.3%** | **Construction Materials — 0.3%** | **Construction Materials — 0.3%** |
|  CRH PLC | 392 | 48922 |
|  **Containers & Packaging — 0.1%** | **Containers & Packaging — 0.1%** | **Containers & Packaging — 0.1%** |
|  Smurfit WestRock PLC | 275 | 10634 |
|  **Metals & Mining — 1.1%** | **Metals & Mining — 1.1%** | **Metals & Mining — 1.1%** |
|  Agnico Eagle Mines Ltd. | 207 | 35150 |
|  BHP Group Ltd. | 1308 | 39678 |
|  Lundin Mining Corp. | 1143 | 24599 |
|  Newmont Corp. (New York) | 417 | 41637 |
|  Teck Resources Ltd. — Class B | 966 | 46307 |
|  |  | 187371 |
|  Total Materials | Total Materials | 281814 |
|  **Utilities — 1.4%** | **Utilities — 1.4%** | **Utilities — 1.4%** |
|  **Electric Utilities — 1.3%** | **Electric Utilities — 1.3%** | **Electric Utilities — 1.3%** |
|  American Electric Power Co., Inc. | 351 | 40474 |
|  Constellation Energy Corp. | 84 | 29675 |
|  Duke Energy Corp. | 286 | 33522 |
|  EDP SA | 10274 | 47239 |
|  Iberdrola SA | 1868 | 40510 |
|  NextEra Energy, Inc. | 295 | 23683 |
|  |  | 215103 |
|  **Multi-Utilities — 0.1%** | **Multi-Utilities — 0.1%** | **Multi-Utilities — 0.1%** |
|  Ameren Corp. | 97 | 9686 |
|  Total Utilities |  | 224789 |
|  **Real Estate — 0.9%** | **Real Estate — 0.9%** | **Real Estate — 0.9%** |
|  **Industrial REITs — 0.1%** | **Industrial REITs — 0.1%** | **Industrial REITs — 0.1%** |
|  STAG Industrial, Inc. | 259 | 9521 |
|  **Office REITs — 0.1%** | **Office REITs — 0.1%** | **Office REITs — 0.1%** |
|  COPT Defense Properties | 846 | 23519 |
|  **Real Estate Management & Development — 0.3%** | **Real Estate Management & Development — 0.3%** | **Real Estate Management & Development — 0.3%** |
|  CBRE Group, Inc. — Class A<sup>(a)</sup> | 161 | 25887 |
|  Mitsui Fudosan Co., Ltd. | 1000 | 11359 |
|  Vonovia SE | 317 | 9137 |
|  |  | 46383 |
|  **Specialized REITs — 0.4%** | **Specialized REITs — 0.4%** | **Specialized REITs — 0.4%** |
|  American Tower Corp. | 189 | 33183 |
|  Digital Realty Trust, Inc. | 59 | 9128 |
|  Equinix, Inc. | 12 | 9194 |
|  Extra Space Storage, Inc. | 76 | 9896 |
|  |  | 61401 |
|  Total Real Estate |  | 140824 |
|  Total Common Stocks <br>(cost $7,964,708) |  | 9760081 |

---

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **LONG-TERM DEBT SECURITIES — 39.9%** | **LONG-TERM DEBT SECURITIES — 39.9%** | **LONG-TERM DEBT SECURITIES — 39.9%** |
|  **GOVERNMENTS — TREASURIES — 14.9%** | **GOVERNMENTS — TREASURIES — 14.9%** | **GOVERNMENTS — TREASURIES — 14.9%** |
|  **United States — 14.9%** | **United States — 14.9%** | **United States — 14.9%** |
|  U.S. Treasury Bonds<br>1.375%, 08/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;21 | $10179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 02/15/2052 | 63 | 38103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 02/15/2042 | 14 | 10197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 05/15/2046 | 7 | 5155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 08/15/2042 | 10 | 7745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/2043 | 4 | 3272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 11/15/2046 | 15 | 11193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/2052 | 35 | 24567 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/2042 | 65 | 52477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/15/2044 | 59 | 45427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/2045 | 47 | 36162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/15/2045 | 6 | 4372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 08/15/2052 | 19 | 13595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 08/15/2042 | 10 | 8481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 02/15/2053 | 4 | 3416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 05/15/2053 | 47 | 38435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/2042 | 37 | 34041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 08/15/2053 | 52 | 45963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/15/2054 | 68 | 61843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/15/2038 | 32 | 32559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 08/15/2043 | 53 | 51101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/2036 | 30 | 31323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/2039 | 55 | 55243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/2044 | 29 | 28165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/2054 | 162 | 153754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 02/15/2040 | 60 | 60926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 05/15/2054 | 72 | 69729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/2043 | 49 | 48773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/2053 | 63 | 61998 |
|  U.S. Treasury Notes<br>0.625%, 08/15/2030 | 63 | 54695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 08/15/2031 | 84 | 73009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/31/2030 | 42 | 41765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/31/2027 | 172 | 173707 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 09/30/2029 | 185 | 186186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/31/2029 | 29 | 29493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/15/2034 | 83 | 83199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 07/31/2031 | 26 | 26353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/15/2035 | 32 | 32230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/30/2030 | 69 | 71363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 05/15/2034 | 92 | 93695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/31/2029 | 447 | 460439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 10/31/2030 | 52 | 55098 |
|  Total Governments — Treasuries |  | 2429426 |
|  **CORPORATES – INVESTMENT GRADE — 13.2%<sup>(b)</sup>** | **CORPORATES – INVESTMENT GRADE — 13.2%<sup>(b)</sup>** | **CORPORATES – INVESTMENT GRADE — 13.2%<sup>(b)</sup>** |
|  **Industrial — 8.0%** | **Industrial — 8.0%** | **Industrial — 8.0%** |
|  **Basic — 0.3%** | **Basic — 0.3%** | **Basic — 0.3%** |
|  Glencore Funding LLC<br>4.907%, 04/01/2028 | 7 | 7120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.186%, 04/01/2030 | 5 | 5129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.338%, 04/04/2027 | 3 | 3047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/06/2033 | 3 | 3311 |

---

------

**SEPARATE ACCOUNT NO. 10 (POOLED)** 

**PORTFOLIO OF INVESTMENTS (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  **Basic (Continued)** | **Basic (Continued)** | **Basic (Continued)** | **Basic (Continued)** | **Basic (Continued)** |
|  LYB International Finance III LLC <br>6.15%, 05/15/2035 | $| &nbsp;&nbsp;&nbsp;&nbsp;6 | $| 6159 |
|  Nucor Corp. <br>4.30%, 05/23/2027 |  | 9 |  | 9059 |
|  Westlake Corp. <br>3.375%, 06/15/2030 |  | 10 |  | 9542 |
|  WRKCo, Inc. <br>4.00%, 03/15/2028 |  | 14 |  | 13965 |
|  |  |  |  | 57332 |
|  **Capital Goods — 0.7%** | **Capital Goods — 0.7%** | **Capital Goods — 0.7%** | **Capital Goods — 0.7%** | **Capital Goods — 0.7%** |
|  Boeing Co. (The) <br>3.25%, 02/01/2028 |  | 17 |  | 16713 |
|  CNH Industrial Capital LLC <br>5.10%, 04/20/2029 |  | 2 |  | 2044 |
|  Flowserve Corp. <br>2.80%, 01/15/2032 |  | 13 |  | 11629 |
|  John Deere Capital Corp. <br>Series I <br>4.55%, 06/05/2030 |  | 15 |  | 15252 |
|  Northrop Grumman Corp. <br>5.25%, 07/15/2035 |  | 6 |  | 6212 |
|  Parker-Hannifin Corp.<br>3.25%, 06/14/2029 |  | 6 |  | 5838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/2029 |  | 12 |  | 12169 |
|  Republic Services, Inc. <br>4.75%, 07/15/2030 |  | 16 |  | 16378 |
|  RTX Corp. <br>4.125%, 11/16/2028 |  | 19 |  | 19061 |
|  Waste Management, Inc.<br>4.50%, 03/15/2028 |  | 3 |  | 3040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/03/2027 |  | 13 |  | 13212 |
|  |  |  |  | 121548 |
|  **Communications – Media — 0.3%** | **Communications – Media — 0.3%** | **Communications – Media — 0.3%** | **Communications – Media — 0.3%** | **Communications – Media — 0.3%** |
|  Charter Communications Operating LLC/Charter Communications Operating Capital <br>5.125%, 07/01/2049 |  | 4 |  | 3136 |
|  Cox Communications, Inc. <br>5.70%, 06/15/2033 |  | 6 |  | 6047 |
|  Meta Platforms, Inc.<br>5.50%, 11/15/2045 |  | 2 |  | 1944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 08/15/2064 |  | 17 |  | 15792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/15/2065 |  | 2 |  | 1910 |
|  Time Warner Cable Enterprises LLC <br>8.375%, 07/15/2033 |  | 4 |  | 4617 |
|  Time Warner Cable LLC <br>4.50%, 09/15/2042 |  | 10 |  | 7697 |
|  |  |  |  | 41143 |
|  **Communications – Telecommunications — 0.1%** | **Communications – Telecommunications — 0.1%** | **Communications – Telecommunications — 0.1%** | **Communications – Telecommunications — 0.1%** | **Communications – Telecommunications — 0.1%** |
|  AT&T, Inc. <br>4.50%, 05/15/2035 |  | 7 |  | 6724 |
|  T-Mobile USA, Inc. <br>3.875%, 04/15/2030 |  | 3 |  | 2948 |
|  Verizon Communications, Inc. <br>2.55%, 03/21/2031 |  | 10 |  | 9133 |
|  |  |  |  | 18805 |

---

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **Consumer Cyclical – Automotive — 0.6%** | **Consumer Cyclical – Automotive — 0.6%** | **Consumer Cyclical – Automotive — 0.6%** |
|  BMW US Capital LLC <br>4.60%, 08/13/2027 | $&nbsp;&nbsp;&nbsp;&nbsp;17 | $17173 |
|  Cummins, Inc. <br>5.15%, 02/20/2034 | 15 | 15534 |
|  Ford Motor Co. <br>3.25%, 02/12/2032 | 14 | 12348 |
|  General Motors Financial Co., Inc.<br>2.40%, 04/10/2028 | 4 | 3851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/06/2029 | 3 | 3048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 07/15/2029 | 7 | 7256 |
|  Honda Motor Co., Ltd. <br>4.436%, 07/08/2028 | 15 | 15131 |
|  Hyundai Capital America<br>5.25%, 01/08/2027 | 6 | 6064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 09/21/2028 | 10 | 10461 |
|  Toyota Motor Credit Corp. <br>5.00%, 08/14/2026 | 4 | 4027 |
|  |  | 94893 |
|  **Consumer Cyclical – Entertainment — 0.0%** | **Consumer Cyclical – Entertainment — 0.0%** | **Consumer Cyclical – Entertainment — 0.0%** |
|  Hasbro, Inc. <br>6.05%, 05/14/2034 | 7 | 7430 |
|  **Consumer Cyclical – Other — 0.0%** | **Consumer Cyclical – Other — 0.0%** | **Consumer Cyclical – Other — 0.0%** |
|  DR Horton, Inc. <br>4.85%, 10/15/2030 | 3 | 3064 |
|  **Consumer Cyclical – Restaurants — 0.2%** | **Consumer Cyclical – Restaurants — 0.2%** | **Consumer Cyclical – Restaurants — 0.2%** |
|  McDonald's Corp. <br>Series G <br>5.00%, 05/17/2029 | 10 | 10291 |
|  Starbucks Corp. <br>4.85%, 02/08/2027 | 15 | 15132 |
|  |  | 25423 |
|  **Consumer Cyclical – Retailers — 0.2%** | **Consumer Cyclical – Retailers — 0.2%** | **Consumer Cyclical – Retailers — 0.2%** |
|  AutoNation, Inc. <br>4.45%, 01/15/2029 | 5 | 5014 |
|  Home Depot, Inc. (The) <br>4.875%, 06/25/2027 | 9 | 9152 |
|  Ross Stores, Inc. <br>4.70%, 04/15/2027 | 20 | 20065 |
|  |  | 34231 |
|  **Consumer Non-Cyclical — 1.9%** | **Consumer Non-Cyclical — 1.9%** | **Consumer Non-Cyclical — 1.9%** |
|  AbbVie, Inc. <br>4.80%, 03/15/2027 | 15 | 15160 |
|  Altria Group, Inc.<br>2.45%, 02/04/2032 | 2 | 1769 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 05/06/2030 | 20 | 19257 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/14/2029 | 3 | 3052 |
|  Archer-Daniels-Midland Co. <br>4.50%, 08/15/2033 | 16 | 16007 |
|  Astrazeneca Finance LLC <br>1.75%, 05/28/2028 | 15 | 14324 |
|  Baptist Healthcare System Obligated Group <br>Series 20B <br>3.54%, 08/15/2050 | 11 | 7858 |
|  BAT Capital Corp.<br>4.625%, 03/22/2033 | 6 | 5959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 10/19/2032 | 4 | 4673 |

---

------

**SEPARATE ACCOUNT NO. 10 (POOLED)** 

**PORTFOLIO OF INVESTMENTS (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  **Consumer Non-Cyclical (Continued)** | **Consumer Non-Cyclical (Continued)** | **Consumer Non-Cyclical (Continued)** | **Consumer Non-Cyclical (Continued)** | **Consumer Non-Cyclical (Continued)** |
|  Baxter International, Inc. <br>5.65%, 12/15/2035 | $| &nbsp;&nbsp;&nbsp;&nbsp;13 | $| 13186 |
|  Cargill, Inc.<br>4.125%, 10/23/2030 |  | 9 |  | 8962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 10/11/2032 |  | 7 |  | 7268 |
|  CVS Health Corp.<br>4.30%, 03/25/2028 |  | 3 |  | 3011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 06/01/2034 |  | 2 |  | 2098 |
|  Eli Lilly & Co. <br>4.00%, 10/15/2028 |  | 16 |  | 16103 |
|  General Mills, Inc. <br>4.875%, 01/30/2030 |  | 11 |  | 11255 |
|  IQVIA, Inc. <br>6.25%, 02/01/2029 |  | 3 |  | 3163 |
|  Keurig Dr Pepper, Inc. <br>5.05%, 03/15/2029 |  | 15 |  | 15324 |
|  Kraft Heinz Foods Co. <br>5.20%, 03/15/2032 |  | 16 |  | 16451 |
|  McKesson Corp. <br>4.90%, 07/15/2028 |  | 9 |  | 9221 |
|  Merck & Co., Inc. <br>3.85%, 03/15/2029 |  | 17 |  | 17000 |
|  Novartis Capital Corp. <br>3.90%, 11/05/2028 |  | 17 |  | 17054 |
|  Ochsner LSU Health System of North Louisiana <br>Series 2021 <br>2.51%, 05/15/2031 |  | 10 |  | 8563 |
|  Philip Morris International, Inc.<br>5.375%, 02/15/2033 |  | 16 |  | 16746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 11/17/2029 |  | 2 |  | 2103 |
|  Pilgrim's Pride Corp. <br>3.50%, 03/01/2032 |  | 11 |  | 10145 |
|  Sutter Health <br>Series 20A <br>2.294%, 08/15/2030 |  | 17 |  | 15639 |
|  Sysco Corp. <br>5.95%, 04/01/2030 |  | 12 |  | 12725 |
|  The Campbell's Co. <br>5.30%, 03/20/2026 |  | 15 |  | 15023 |
|  Tyson Foods, Inc. <br>5.70%, 03/15/2034 |  | 5 |  | 5273 |
|  |  |  |  | 314372 |
|  **Energy — 1.6%** | **Energy — 1.6%** | **Energy — 1.6%** | **Energy — 1.6%** | **Energy — 1.6%** |
|  Boardwalk Pipelines LP <br>3.40%, 02/15/2031 |  | 9 |  | 8511 |
|  BP Capital Markets America, Inc.<br>2.939%, 06/04/2051 |  | 12 |  | 7655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.017%, 11/17/2027 |  | 7 |  | 7146 |
|  Burlington Resources LLC <br>5.95%, 10/15/2036 |  | 11 |  | 11856 |
|  Canadian Natural Resources Ltd. <br>2.95%, 07/15/2030 |  | 6 |  | 5659 |
|  Cenovus Energy, Inc.<br>4.65%, 03/20/2031 |  | 8 |  | 7978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/20/2036 |  | 4 |  | 3995 |
|  Columbia Pipelines Holding Co. LLC <br>5.097%, 10/01/2031 |  | 6 |  | 6105 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  **Energy (Continued)** | **Energy (Continued)** | **Energy (Continued)** | **Energy (Continued)** | **Energy (Continued)** |
|  Continental Resources, Inc.<br>2.875%, 04/01/2032 | $| &nbsp;&nbsp;&nbsp;&nbsp;20 | $| 17445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/2031 |  | 2 |  | 2052 |
|  Energy Transfer LP <br>5.60%, 09/01/2034 |  | 16 |  | 16469 |
|  Enterprise Products Operating LLC <br>5.20%, 01/15/2036 |  | 16 |  | 16285 |
|  EQT Corp. <br>4.50%, 01/15/2029 |  | 14 |  | 14023 |
|  Kinder Morgan, Inc. <br>5.85%, 06/01/2035 |  | 4 |  | 4234 |
|  Occidental Petroleum Corp. <br>5.20%, 08/01/2029 |  | 4 |  | 4097 |
|  ONEOK Partners LP <br>6.125%, 02/01/2041 |  | 3 |  | 3084 |
|  ONEOK, Inc.<br>4.00%, 07/13/2027 |  | 21 |  | 20978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 01/15/2031 |  | 4 |  | 4294 |
|  Plains All American Pipeline LP/PAA Finance Corp.<br>4.50%, 12/15/2026 |  | 8 |  | 8024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/15/2034 |  | 8 |  | 8263 |
|  Suncor Energy, Inc. <br>6.80%, 05/15/2038 |  | 7 |  | 7727 |
|  Targa Resources Corp. <br>6.50%, 03/30/2034 |  | 6 |  | 6554 |
|  Targa Resources Partners LP/Targa Resources Partners Finance Corp. <br>4.00%, 01/15/2032 |  | 15 |  | 14328 |
|  TransCanada PipeLines Ltd.<br>6.10%, 06/01/2040 |  | 5 |  | 5263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.323%, 05/15/2067<sup>(c)</sup> |  | 13 |  | 11544 |
|  Transcontinental Gas Pipe Line Co. LLC <br>3.25%, 05/15/2030 |  | 10 |  | 9579 |
|  Western Midstream Operating LP <br>4.75%, 08/15/2028 |  | 8 |  | 8094 |
|  Williams Cos., Inc. (The) <br>4.80%, 11/15/2029 |  | 7 |  | 7131 |
|  Woodside Finance Ltd.<br>4.50%, 03/04/2029 |  | 8 |  | 8002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 05/19/2030 |  | 3 |  | 3081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/19/2035 |  | 6 |  | 6253 |
|  |  |  |  | 265709 |
|  **Services — 0.6%** | **Services — 0.6%** | **Services — 0.6%** | **Services — 0.6%** | **Services — 0.6%** |
|  Amazon.com, Inc. <br>4.65%, 11/20/2035 |  | 17 |  | 16929 |
|  Expedia Group, Inc. <br>4.625%, 08/01/2027 |  | 9 |  | 9067 |
|  Global Payments, Inc.<br>3.20%, 08/15/2029 |  | 7 |  | 6676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/2028 |  | 3 |  | 3006 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 11/15/2030 |  | 3 |  | 3003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 11/15/2032 |  | 3 |  | 2999 |
|  Mastercard, Inc.<br>3.30%, 03/26/2027 |  | 6 |  | 5970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 03/09/2028 |  | 10 |  | 10228 |

---

------

**SEPARATE ACCOUNT NO. 10 (POOLED)** 

**PORTFOLIO OF INVESTMENTS (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  **Services (Continued)** | **Services (Continued)** | **Services (Continued)** | **Services (Continued)** | **Services (Continued)** |
|  Moody's Corp.<br>4.25%, 02/01/2029 | $| &nbsp;&nbsp;&nbsp;&nbsp;9 | $| 9057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/05/2034 |  | 5 |  | 5098 |
|  PayPal Holdings, Inc. <br>4.45%, 03/06/2028 |  | 9 |  | 9110 |
|  S&P Global, Inc.<br>4.25%, 05/01/2029 |  | 6 |  | 6033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/01/2028 |  | 4 |  | 4075 |
|  |  |  |  | 91251 |
|  **Technology — 1.2%** | **Technology — 1.2%** | **Technology — 1.2%** | **Technology — 1.2%** | **Technology — 1.2%** |
|  Alphabet, Inc.<br>4.70%, 11/15/2035 |  | 2 |  | 2001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 11/15/2055 |  | 4 |  | 3927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 11/15/2075 |  | 4 |  | 3942 |
|  Applied Materials, Inc. <br>4.00%, 01/15/2031 |  | 16 |  | 15911 |
|  Broadcom, Inc.<br>3.187%, 11/15/2036 |  | 16 |  | 13576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 04/15/2032 |  | 2 |  | 1955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.926%, 05/15/2037 |  | 5 |  | 4935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/12/2027 |  | 6 |  | 6104 |
|  Cisco Systems, Inc. <br>4.75%, 02/24/2030 |  | 16 |  | 16450 |
|  Dell International LLC/EMC Corp. <br>4.35%, 02/01/2030 |  | 16 |  | 16011 |
|  Fiserv, Inc. <br>3.50%, 07/01/2029 |  | 17 |  | 16488 |
|  Honeywell International, Inc. <br>4.875%, 09/01/2029 |  | 15 |  | 15414 |
|  Jabil, Inc. <br>3.00%, 01/15/2031 |  | 6 |  | 5590 |
|  KLA Corp. <br>4.10%, 03/15/2029 |  | 4 |  | 4009 |
|  Kyndryl Holdings, Inc. <br>2.05%, 10/15/2026 |  | 21 |  | 20652 |
|  NXP BV/NXP Funding LLC <br>5.55%, 12/01/2028 |  | 6 |  | 6214 |
|  NXP BV/NXP Funding LLC/NXP USA, Inc. <br>3.40%, 05/01/2030 |  | 6 |  | 5785 |
|  Oracle Corp.<br>2.875%, 03/25/2031 |  | 12 |  | 10758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/26/2035 |  | 4 |  | 3840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/03/2035 |  | 5 |  | 4903 |
|  TR Finance LLC <br>5.50%, 08/15/2035 |  | 16 |  | 16624 |
|  Western Digital Corp. <br>2.85%, 02/01/2029 |  | 4 |  | 3825 |
|  Workday, Inc. <br>3.70%, 04/01/2029 |  | 5 |  | 4930 |
|  |  |  |  | 203844 |
|  **Transportation – Airlines — 0.2%** | **Transportation – Airlines — 0.2%** | **Transportation – Airlines — 0.2%** | **Transportation – Airlines — 0.2%** | **Transportation – Airlines — 0.2%** |
|  AS Mileage Plan IP Ltd.<br>5.021%, 10/20/2029 |  | 12 |  | 12099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.308%, 10/20/2031 |  | 8 |  | 8075 |
|  Southwest Airlines Co. <br>4.375%, 11/15/2028 |  | 6 |  | 6012 |
|  |  |  |  | 26186 |

---

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **Transportation – Services — 0.1%** |  |  |
|  Ryder System, Inc. <br>5.375%, 03/15/2029 | $&nbsp;&nbsp;&nbsp;&nbsp;12 | $12421 |
|  Total Industrial |  | 1317652 |
|  **Financial Institutions — 3.9%** |  |  |
|  **Banking — 2.3%** |  |  |
|  Ally Financial, Inc. <br>8.00%, 11/01/2031 | 18 | 20427 |
|  American Express Co.<br>4.90%, 02/13/2026 | 4 | 4003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.098%, 02/16/2028 | 9 | 9106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.389%, 07/28/2027 | 6 | 6046 |
|  Bank of America Corp.<br>2.299%, 07/21/2032 | 18 | 16095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.687%, 04/22/2032 | 7 | 6420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.376%, 04/27/2028 | 15 | 15057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.744%, 02/12/2036 | 16 | 16684 |
|  Bank of Montreal <br>4.567%, 09/10/2027 | 17 | 17062 |
|  Bank of New York Mellon Corp. (The) <br>5.606%, 07/21/2039 | 6 | 6299 |
|  Bank of Nova Scotia (The) <br>4.75%, 02/02/2026 | 13 | 13003 |
|  Canadian Imperial Bank of Commerce <br>4.508%, 09/11/2027 | 16 | 16048 |
|  Capital One Financial Corp.<br>3.273%, 03/01/2030 | 10 | 9704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.377%, 06/08/2034 | 7 | 7568 |
|  Citigroup, Inc.<br>4.075%, 04/23/2029 | 10 | 9991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.542%, 09/19/2030 | 17 | 17129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 02/15/2031<sup>(d)</sup> | 6 | 6083 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series Y<br>4.15%, 11/15/2026<sup>(d)</sup> | 3 | 2967 |
|  Goldman Sachs Group, Inc. (The)<br>2.383%, 07/21/2032 | 2 | 1792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.937%, 04/23/2028 | 8 | 8091 |
|  JPMorgan Chase & Co.<br>2.58%, 04/22/2032 | 24 | 21939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.851%, 07/25/2028 | 2 | 2025 |
|  Morgan Stanley<br>5.424%, 07/21/2034 | 9 | 9361 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series G<br>2.239%, 07/21/2032 | 5 | 4440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.772%, 01/24/2029 | 12 | 11931 |
|  Royal Bank of Canada <br>Series G <br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.522%, 10/18/2028 | 16 | 16148 |
|  Santander Holdings USA, Inc. <br>5.473%, 03/20/2029 | 2 | 2044 |
|  State Street Corp. <br>4.543%, 04/24/2028 | 6 | 6050 |
|  Sumitomo Mitsui Financial Group, Inc. <br>3.352%, 10/18/2027 | 21 | 20802 |
|  Synchrony Financial<br>5.45%, 03/06/2031 | 6 | 6148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.935%, 08/02/2030 | 9 | 9364 |

---

------

**SEPARATE ACCOUNT NO. 10 (POOLED)** 

**PORTFOLIO OF INVESTMENTS (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  **Banking (Continued)** |  |  |  |  |
|  Toronto-Dominion Bank (The)<br>4.568%, 12/17/2026 | $| &nbsp;&nbsp;&nbsp;&nbsp;10 | $| 10061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.146%, 09/10/2034 |  | 6 |  | 6089 |
|  Wells Fargo & Co.<br>3.35%, 03/02/2033 |  | 28 |  | 26114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.584%, 05/22/2028 |  | 5 |  | 4967 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series BB<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 03/15/2026<sup>(d)</sup> |  | 9 |  | 8969 |
|  |  |  |  | 376027 |
|  **Brokerage — 0.2%** | **Brokerage — 0.2%** | **Brokerage — 0.2%** | **Brokerage — 0.2%** | **Brokerage — 0.2%** |
|  Charles Schwab Corp. (The)<br>4.914%, 11/14/2036 |  | 6 |  | 5974 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series I<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/01/2026<sup>(d)</sup> |  | 11 |  | 10921 |
|  LPL Holdings, Inc. <br>4.90%, 04/03/2028 |  | 11 |  | 11160 |
|  |  |  |  | 28055 |
|  **Finance — 0.1%** | **Finance — 0.1%** | **Finance — 0.1%** | **Finance — 0.1%** | **Finance — 0.1%** |
|  Air Lease Corp.<br>2.10%, 09/01/2028 |  | 2 |  | 1883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 01/15/2026 |  | 2 |  | 1998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 04/01/2027 |  | 2 |  | 1985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/01/2028 |  | 5 |  | 5020 |
|  Aircastle Ltd.<br>2.85%, 01/26/2028 |  | 5 |  | 4856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/18/2028 |  | 3 |  | 3153 |
|  Aviation Capital Group LLC <br>4.75%, 04/14/2027 |  | 4 |  | 4021 |
|  |  |  |  | 22916 |
|  **Insurance — 0.8%** | **Insurance — 0.8%** | **Insurance — 0.8%** | **Insurance — 0.8%** | **Insurance — 0.8%** |
|  Alleghany Corp. <br>3.625%, 05/15/2030 |  | 22 |  | 21491 |
|  Athene Global Funding<br>1.985%, 08/19/2028 |  | 6 |  | 5631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 11/19/2030 |  | 6 |  | 5414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.717%, 01/07/2029 |  | 5 |  | 4728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.62%, 05/08/2026 |  | 3 |  | 3013 |
|  Centene Corp. <br>4.625%, 12/15/2029 |  | 16 |  | 15515 |
|  Cigna Group (The)<br>3.40%, 03/01/2027 |  | 23 |  | 22855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/15/2028 |  | 10 |  | 10089 |
|  Elevance Health, Inc. <br>5.15%, 06/15/2029 |  | 4 |  | 4123 |
|  Guardian Life Insurance Co. of America (The) <br>4.85%, 01/24/2077 |  | 13 |  | 10724 |
|  Humana, Inc. <br>5.75%, 03/01/2028 |  | 9 |  | 9278 |
|  Massachusetts Mutual Life Insurance Co. <br>3.729%, 10/15/2070 |  | 6 |  | 3874 |
|  Principal Life Global Funding II <br>5.10%, 01/25/2029 |  | 11 |  | 11267 |
|  |  |  |  | 128002 |

---

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **REITs — 0.5%** | **REITs — 0.5%** | **REITs — 0.5%** |
|  American Tower Corp.<br>3.65%, 03/15/2027 | $&nbsp;&nbsp;&nbsp;&nbsp;3 | $2986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/15/2029 | 6 | 6175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 11/15/2028 | 3 | 3131 |
|  Crown Castle, Inc. <br>5.60%, 06/01/2029 | 6 | 6226 |
|  GLP Capital LP/GLP Financing II, Inc.<br>3.25%, 01/15/2032 | 10 | 9038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/15/2031 | 4 | 3826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/15/2033 | 2 | 2004 |
|  Omega Healthcare Investors, Inc. <br>5.20%, 07/01/2030 | 4 | 4071 |
|  Realty Income Corp. <br>5.125%, 04/15/2035 | 2 | 2034 |
|  Rexford Industrial Realty LP <br>2.125%, 12/01/2030 | 19 | 16996 |
|  Simon Property Group LP <br>4.75%, 09/26/2034 | 8 | 7959 |
|  VICI Properties LP/VICI Note Co., Inc. <br>4.625%, 12/01/2029 | 16 | 15975 |
|  |  | 80421 |
|  Total Financial Institutions |  | 635421 |
|  **Utility — 1.3%** | **Utility — 1.3%** | **Utility — 1.3%** |
|  **Electric — 1.3%** | **Electric — 1.3%** | **Electric — 1.3%** |
|  Berkshire Hathaway Energy Co. <br>6.125%, 04/01/2036 | 25 | 27158 |
|  CenterPoint Energy Houston Electric LLC 4.95%, 04/01/2033 | 2 | 2038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/01/2035 | 14 | 14156 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series AQ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/15/2035 | 2 | 2016 |
|  DTE Electric Co. <br>5.25%, 05/15/2035 | 8 | 8230 |
|  DTE Energy Co. <br>4.875%, 06/01/2028 | 8 | 8138 |
|  Enel Chile SA <br>4.875%, 06/12/2028 | 12 | 12151 |
|  Entergy Mississippi LLC <br>5.80%, 04/15/2055 | 10 | 10066 |
|  Florida Power & Light Co. <br>5.30%, 06/15/2034 | 7 | 7336 |
|  National Rural Utilities Cooperative Finance Corp. <br>3.95%, 12/10/2027 | 17 | 17063 |
|  Niagara Mohawk Power Corp. <br>5.29%, 01/17/2034 | 5 | 5088 |
|  NRG Energy, Inc. <br>4.734%, 10/15/2030 | 4 | 3999 |
|  Ohio Edison Co. <br>4.95%, 12/15/2029 | 7 | 7157 |
|  Oncor Electric Delivery Co. LLC <br>4.65%, 11/01/2029 | 16 | 16261 |
|  Public Service Electric & Gas Co. <br>4.90%, 08/15/2035 | 17 | 17113 |
|  Virginia Electric & Power Co. <br>Series C <br>4.90%, 09/15/2035 | 13 | 12949 |

---

------

**SEPARATE ACCOUNT NO. 10 (POOLED)** 

**PORTFOLIO OF INVESTMENTS (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  **Electric (Continued)** | **Electric (Continued)** | **Electric (Continued)** | **Electric (Continued)** | **Electric (Continued)** |
|  Vistra Operations Co. LLC <br>6.95%, 10/15/2033 | $| &nbsp;&nbsp;&nbsp;&nbsp;13 | $| 14466 |
|  Wisconsin Electric Power Co. <br>3.95%, 03/01/2029 |  | 8 |  | 8002 |
|  Xcel Energy, Inc. <br>4.75%, 03/21/2028 |  | 16 |  | 16203 |
|  Total Utility |  |  |  | 209590 |
|  Total Corporates — Investment Grade |  |  |  | 2162663 |
|  **MORTGAGE PASS-THROUGHS — 9.7%** | **MORTGAGE PASS-THROUGHS — 9.7%** | **MORTGAGE PASS-THROUGHS — 9.7%** | **MORTGAGE PASS-THROUGHS — 9.7%** | **MORTGAGE PASS-THROUGHS — 9.7%** |
|  **Agency Fixed Rate 30-Year — 9.5%** | **Agency Fixed Rate 30-Year — 9.5%** | **Agency Fixed Rate 30-Year — 9.5%** | **Agency Fixed Rate 30-Year — 9.5%** | **Agency Fixed Rate 30-Year — 9.5%** |
|  Federal Home Loan Mortgage Corp.<br>Series 2019<br>3.50%, 10/01/2049 |  | 3 |  | 2734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/01/2049 |  | 4 |  | 3726 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/01/2050 |  | 16 |  | 14780 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 03/01/2052 |  | 45 |  | 36713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 04/01/2052 |  | 23 |  | 19468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 05/01/2052 |  | 29 |  | 24986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/01/2052 |  | 31 |  | 27512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/01/2052 |  | 34 |  | 29841 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2024<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/01/2054 |  | 28 |  | 28627 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2025<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 01/01/2053 |  | 25 |  | 21294 |
|  Federal Home Loan Mortgage Corp. Gold<br>Series 2007<br>5.50%, 07/01/2035 |  | 1 |  | 1364 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/01/2046 |  | 11 |  | 10543 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/01/2044 |  | 8 |  | 7645 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/01/2048 |  | 10 |  | 9548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/01/2048 |  | 9 |  | 8622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/2048 |  | 7 |  | 7046 |
|  Federal National Mortgage Association<br>Series 2003<br>5.50%, 04/01/2033 |  | 2 |  | 2059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/01/2033 |  | 2 |  | 2391 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2004<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/01/2034 |  | 1 |  | 977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/01/2034 |  | 2 |  | 2168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/01/2035 |  | 2 |  | 2471 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2010<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/01/2040 |  | 4 |  | 4254 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2012<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/01/2042 |  | 27 |  | 25923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/01/2043 |  | 4 |  | 4203 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/01/2043 |  | 16 |  | 15425 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/01/2043 |  | 17 |  | 16389 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2015<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/01/2045 |  | 3 |  | 2703 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  **Agency Fixed Rate 30-Year (Continued)** | **Agency Fixed Rate 30-Year (Continued)** | **Agency Fixed Rate 30-Year (Continued)** | **Agency Fixed Rate 30-Year (Continued)** | **Agency Fixed Rate 30-Year (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 05/01/2048 | $| &nbsp;&nbsp;&nbsp;&nbsp;16 | $| 14713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/01/2048 |  | 15 |  | 14454 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/01/2049 |  | 9 |  | 8821 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/01/2050 |  | 14 |  | 13161 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 07/01/2051 |  | 46 |  | 37593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 12/01/2051 |  | 100 |  | 80932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 01/01/2052 |  | 7 |  | 6279 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 03/01/2052 |  | 32 |  | 27675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 04/01/2052 |  | 13 |  | 11345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 05/01/2052 |  | 43 |  | 37181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/01/2052 |  | 35 |  | 31000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/01/2052 |  | 43 |  | 38997 |
|  Government National Mortgage Association<br>Series 2016<br>3.00%, 12/20/2046 |  | 10 |  | 8883 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2023<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/20/2053 |  | 28 |  | 28199 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2026<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/01/2056, TBA |  | 50 |  | 48768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/01/2056, TBA |  | 100 |  | 99838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/01/2056, TBA |  | 25 |  | 25252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/01/2056, TBA |  | 121 |  | 123255 |
|  Uniform Mortgage-Backed Security<br>Series 2026<br>2.00%, 01/01/2056, TBA |  | 25 |  | 20237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 01/01/2056, TBA |  | 138 |  | 116559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/01/2056, TBA |  | 41 |  | 36336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/01/2056, TBA |  | 115 |  | 114526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/01/2056, TBA |  | 191 |  | 193421 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/01/2056, TBA |  | 48 |  | 49296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 01/01/2056, TBA |  | 32 |  | 33258 |
|  |  |  |  | 1553391 |
|  **Agency Fixed Rate 15-Year — 0.2%** | **Agency Fixed Rate 15-Year — 0.2%** | **Agency Fixed Rate 15-Year — 0.2%** | **Agency Fixed Rate 15-Year — 0.2%** | **Agency Fixed Rate 15-Year — 0.2%** |
|  Federal National Mortgage Association<br>Series 2016<br>2.50%, 04/01/2031 |  | 7 |  | 6597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 08/01/2031 |  | 9 |  | 8752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 01/01/2032 |  | 12 |  | 11687 |
|  |  |  |  | 27036 |
|  Total Mortgage Pass-Throughs |  |  |  | 1580427 |
|  **AGENCIES — 1.6%** | **AGENCIES — 1.6%** | **AGENCIES — 1.6%** | **AGENCIES — 1.6%** | **AGENCIES — 1.6%** |
|  **Agency Debentures — 1.6%** | **Agency Debentures — 1.6%** | **Agency Debentures — 1.6%** | **Agency Debentures — 1.6%** | **Agency Debentures — 1.6%** |
|  Federal Home Loan Bank <br>4.75%, 12/08/2028 |  | 15 |  | 15462 |
|  Federal National Mortgage Association |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/15/2029 |  | 70 |  | 75822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 11/15/2030 |  | 145 |  | 163504 |
|  Total Agencies |  |  |  | 254788 |

---

------

**SEPARATE ACCOUNT NO. 10 (POOLED)** 

**PORTFOLIO OF INVESTMENTS (Concluded)** 

**DECEMBER 31, 2025** 

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **LOCAL GOVERNMENTS – US MUNICIPAL BONDS — 0.4%** | **LOCAL GOVERNMENTS – US MUNICIPAL BONDS — 0.4%** | **LOCAL GOVERNMENTS – US MUNICIPAL BONDS — 0.4%** |
|  **United States — 0.4%** | **United States — 0.4%** | **United States — 0.4%** |
|  City of New York <br>(Pre-refunded — US Treasuries) <br>Series 2021 <br>1.923%, 08/01/2031 | $&nbsp;&nbsp;&nbsp;&nbsp;5 | $4444 |
|  City of New York <br>Series 2021 <br>1.923%, 08/01/2031 | 5 | 4428 |
|  State Board of Administration Finance Corp. <br>Series 2020-A <br>1.705%, 07/01/2027 | 16 | 15521 |
|  State of California <br>(State of California) <br>Series 2010 <br>7.625%, 03/01/2040 | 25 | 30141 |
|  University of California <br>Series 2021-B <br>3.071%, 05/15/2051 | 15 | 10177 |
|  Total Local Governments — US Municipal Bonds |  | 64711 |
|  **ASSET-BACKED SECURITIES — 0.1%** | **ASSET-BACKED SECURITIES — 0.1%** | **ASSET-BACKED SECURITIES — 0.1%** |
|  **Other ABS – Fixed Rate — 0.1%** | **Other ABS – Fixed Rate — 0.1%** | **Other ABS – Fixed Rate — 0.1%** |
|  Neighborly Issuer <br>Series 2022-1A, Class A2 <br>3.695%, 01/30/2052 | 24 | 22783 |
|  **COLLATERALIZED MORTGAGE OBLIGATIONS — 0.0%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 0.0%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 0.0%** |
|  **Non-Agency Fixed Rate — 0.0%** | **Non-Agency Fixed Rate — 0.0%** | **Non-Agency Fixed Rate — 0.0%** |
|  JP Morgan Alternative Loan Trust <br>Series 2006-A3, Class 2A1 <br>4.604%, 07/25/2036 | 9 | 7379 |
|  **CORPORATES — NON-INVESTMENT GRADE — 0.0%<sup>(b)</sup>** | **CORPORATES — NON-INVESTMENT GRADE — 0.0%<sup>(b)</sup>** | **CORPORATES — NON-INVESTMENT GRADE — 0.0%<sup>(b)</sup>** |
|  **Industrial — 0.0%** |  |  |
|  **Communications – Media — 0.0%** | **Communications – Media — 0.0%** | **Communications – Media — 0.0%** |
|  Interpublic Group of Cos., Inc. (The) <br>4.65%, 10/01/2028 | 5 | 4962 |
|  Total Long-Term Debt Securities <br>(amortized cost $6,692,176) |  | 6527139 |
|  **SHORT-TERM INVESTMENTS — 3.0%** |  |  |
|  **U.S. Treasury Bills — 3.0%** |  |  |
|  U.S. Treasury Bill <br>Zero Coupon, 03/12/2026 <br>(cost $494,519) | 498 | 494519 |
|  **Total Investments — 102.6%** <br>(cost $15,151,403) |  | 16781739 |
|  Other assets less liabilities — (2.6)% |  | (429841) |
|  **Net Assets — 100.0%** |  | $16351898 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(a) Non-income producing security.

(b) Classification of investment grade and non-investment grade is unaudited.

(c) Floating Rate Security. Stated interest/floor/ceiling rate was in effect at December 31, 2025.

(d) Securities are perpetual and, thus, do not have a predetermined maturity date. The date shown, if applicable, reflects the next call date.

Glossary:

*ABS — Asset-Backed Securities* 

*REG — Registered Shares* 

*REIT — Real Estate Investment Trust* 

*TBA — To Be Announced* 

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 10 (POOLED)** 

**PORTFOLIO SUMMARY** 

**DECEMBER 31, 2025** 

---

| | |
|:---|:---|
| **% of Total Investments\*** | **Country Diversification** |
| 83.1% | United States |
| 3.1% | Japan |
| 2.9% | United Kingdom |
| 2.1% | Switzerland |
| 2.1% | Canada |
| 1.4% | France |
| 1.2% | Germany |
| 0.7% | Spain |
| 0.6% | Australia |
| 0.6% | Italy |
| 0.5% | Hong Kong |
| 0.4% | Netherlands |
| 0.3% | Portugal |
| 0.2% | Belgium |
| 0.8% | Other |
| 100.0% |  |

---

\* All The Fund's country breakdown is expressed as a percentage of each Portfolio's long-term investments and may vary over time. "Other" country weightings represent 0.2% or less of the following: Chile, China, Denmark, Luxembourg and Singapore.

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 4 (POOLED)** 

**STATEMENT OF ASSETS AND LIABILITIES** 

**DECEMBER 31, 2025** 

---

| | |
|:---|:---|
|  **Assets:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments (Notes 2 and 3): |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks — at fair value (cost: $55,997,110) | $114541945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash | 1207984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from Equitable Financial's General Account | 579840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest and dividends receivable | 15932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fees receivable from contractowners | 3455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 116349156 |
|  **Liabilities:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Asset management fee payable | 17733 |
| &nbsp;&nbsp;&nbsp;&nbsp; Variation margin due to broker | 7913 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued custody and bank fees | 7212 |
| &nbsp;&nbsp;&nbsp;&nbsp; Due to other Separate Account | 2727 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued Expenses | 66470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 102055 |
|  **Net Assets Attributable to Contractowners or in Accumulation** | $116247101 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amount retained by Equitable Financial in Separate Account No. 4 | $5787030 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net assets attributable to contractowners | 49373909 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net assets allocated to contracts in payout period | 61086162 |
|  **Net Assets** | $116247101 |

---

---

| | | |
|:---|:---|:---|
|  | **Units Outstanding** | **Unit Values** |
|  Institutional | 722.24 | $&nbsp;&nbsp;&nbsp;&nbsp;89736.03 |
|  RIA | 837.13 | 8225.76 |
|  MRP | 13506.53 | 3118.67 |
|  EPP | 286.37 | 8535.04 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 4 (POOLED)** 

**STATEMENT OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2025** 

---

| | |
|:---|:---|
|  **Investment Income (Note 2):** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends (net of foreign taxes withheld of $177) | $650960 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest | 36320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total investment income | 687280 |
|  **Expenses (Note 6):** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees | (152302) |
| &nbsp;&nbsp;&nbsp;&nbsp; Custody and bank fees | (19933) |
| &nbsp;&nbsp;&nbsp;&nbsp; Other operating expenses | (61805) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total expenses | (234040) |
|  **Net Investment Income (Loss)** | 453240 |
|  **Realized and Unrealized Gain (Loss) on Investments and Futures Contracts (Note 2):** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) from investments | 21071585 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on futures contracts | 97162 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (2494423) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on futures contracts | 7016 |
|  **Net Realized and Unrealized Gain (Loss) on Investments and Futures Contracts** | 18681340 |
|  **Net Increase (Decrease) in Net Assets Attributable to Operations** | $19134580 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 4 (POOLED)** 

**STATEMENTS OF CHANGES IN NET ASSETS** 

---

| | | |
|:---|:---|:---|
|  | **Year Ended<br>December 31, 2025** | **Year Ended<br>December 31, 2024** |
|  **Increase (Decrease) in Net Assets:** |  |  |
|  **From Operations:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $453240 | $528350 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments and futures contracts | 21168747 | 16005716 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments and futures contracts | (2487407) | 13642230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in assets attributable to operations | 19134580 | 30176296 |
|  **From Contractowners Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Contributions | 2614652 | 5929360 |
| &nbsp;&nbsp;&nbsp;&nbsp; Withdrawals | (19298234) | (22984434) |
| &nbsp;&nbsp;&nbsp;&nbsp; Asset management fees (Note 6) | (79054) | (76475) |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees (Note 6) | (299946) | (292103) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets attributable to contractowners transactions | (17062582) | (17423652) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets attributable to Equitable Financial's transactions | 735078 | 1046752 |
|  **Increase (Decrease) in Net Assets** | 2807076 | 13799396 |
|  **Net Assets Attributable to Contractowners or in Accumulation — Beginning of Year** | 113440025 | 99640629 |
|  **Net Assets Attributable to Contractowners or in Accumulation — End of Year** | $116247101 | $113440025 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 4 (POOLED)** 

**PORTFOLIO OF INVESTMENTS** 

**DECEMBER 31, 2025** 

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **COMMON STOCKS — 98.5%** | **COMMON STOCKS — 98.5%** | **COMMON STOCKS — 98.5%** |
|  **Information Technology — 49.5%** | **Information Technology — 49.5%** | **Information Technology — 49.5%** |
|  **Communications Equipment — 0.5%** | **Communications Equipment — 0.5%** | **Communications Equipment — 0.5%** |
|  Arista Networks, Inc.<sup>(a)</sup> | 3929 | $514817 |
|  Lumentum Holdings, Inc.<sup>(a)</sup> | 20 | 7372 |
|  Motorola Solutions, Inc. | 267 | 102346 |
|  Ubiquiti, Inc. | 16 | 8854 |
|  |  | 633389 |
|  **Electronic Equipment, Instruments & Components — 0.6%** | **Electronic Equipment, Instruments & Components — 0.6%** | **Electronic Equipment, Instruments & Components — 0.6%** |
|  Amphenol Corp. — Class A | 4647 | 627996 |
|  CDW Corp. | 36 | 4903 |
|  Jabil, Inc. | 262 | 59741 |
|  |  | 692640 |
|  **IT Services — 0.4%** | **IT Services — 0.4%** | **IT Services — 0.4%** |
|  Gartner, Inc.<sup>(a)</sup> | 280 | 70638 |
|  Globant SA<sup>(a)</sup> | 16 | 1046 |
|  GoDaddy, Inc. — Class A<sup>(a)</sup> | 512 | 63529 |
|  Kyndryl Holdings, Inc.<sup>(a)</sup> | 57 | 1514 |
|  MongoDB, Inc.<sup>(a)</sup> | 29 | 12171 |
|  Okta, Inc.<sup>(a)</sup> | 251 | 21704 |
|  Snowflake, Inc. — Class A<sup>(a)</sup> | 1250 | 274200 |
|  Twilio, Inc. — Class A<sup>(a)</sup> | 92 | 13086 |
|  |  | 457888 |
|  **Semiconductors & Semiconductor Equipment — 19.4%** | **Semiconductors & Semiconductor Equipment — 19.4%** | **Semiconductors & Semiconductor Equipment — 19.4%** |
|  Advanced Micro Devices, Inc.<sup>(a)</sup> | 3588 | 768406 |
|  Applied Materials, Inc. | 866 | 222553 |
|  Astera Labs, Inc.<sup>(a)</sup> | 480 | 79853 |
|  Broadcom, Inc. | 15693 | 5431347 |
|  Enphase Energy, Inc.<sup>(a)</sup> | 485 | 15544 |
|  Entegris, Inc. | 93 | 7835 |
|  KLA Corp. | 501 | 608755 |
|  Lam Research Corp. | 4782 | 818583 |
|  Lattice Semiconductor Corp.<sup>(a)</sup> | 440 | 32375 |
|  MACOM Technology Solutions Holdings, Inc.<sup>(a)</sup> | 60 | 10277 |
|  Marvell Technology, Inc. | 230 | 19546 |
|  Monolithic Power Systems, Inc. | 176 | 159520 |
|  NVIDIA Corp. | 75080 | 14002420 |
|  Onto Innovation, Inc.<sup>(a)</sup> | 41 | 6472 |
|  QUALCOMM, Inc. | 941 | 160958 |
|  Texas Instruments, Inc. | 1416 | 245662 |
|  |  | 22590106 |
|  **Software — 17.5%** | **Software — 17.5%** | **Software — 17.5%** |
|  Adobe, Inc.<sup>(a)</sup> | 1592 | 557184 |
|  Appfolio, Inc. — Class A<sup>(a)</sup> | 84 | 19543 |
|  AppLovin Corp. — Class A<sup>(a)</sup> | 908 | 611829 |
|  Atlassian Corp. Ltd. — Class A<sup>(a)</sup> | 632 | 102472 |
|  Autodesk, Inc.<sup>(a)</sup> | 811 | 240064 |
|  Bentley Systems, Inc. — Class B | 599 | 22861 |
|  Cadence Design Systems, Inc.<sup>(a)</sup> | 1039 | 324771 |
|  Circle Internet Group, Inc.<sup>(a)</sup> | 28 | 2220 |
|  Cloudflare, Inc. — Class A<sup>(a)</sup> | 1194 | 235397 |
|  Coinbase Global, Inc. — Class A<sup>(a)</sup> | 83 | 18770 |
|  Confluent, Inc. — Class A<sup>(a)</sup> | 1100 | 33264 |
|  Crowdstrike Holdings, Inc. — Class A<sup>(a)</sup> | 942 | 441572 |
|  Datadog, Inc. — Class A<sup>(a)</sup> | 1189 | 161692 |
|  Docusign, Inc.<sup>(a)</sup> | 578 | 39535 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** | **U.S. $ Value** |
|  **Software (Continued)** | **Software (Continued)** | **Software (Continued)** | **Software (Continued)** |
|  Dropbox, Inc. — Class A<sup>(a)</sup> | 184 | $| 5115 |
|  Elastic NV<sup>(a)</sup> | 351 |  | 26479 |
|  Fair Isaac Corp.<sup>(a)</sup> | 74 |  | 125106 |
|  Fortinet, Inc.<sup>(a)</sup> | 2423 |  | 192410 |
|  Gen Digital, Inc. | 227 |  | 6172 |
|  Gitlab, Inc. — Class A<sup>(a)</sup> | 532 |  | 19966 |
|  Guidewire Software, Inc.<sup>(a)</sup> | 323 |  | 64926 |
|  HubSpot, Inc.<sup>(a)</sup> | 194 |  | 77852 |
|  Intuit, Inc. | 1040 |  | 688917 |
|  Manhattan Associates, Inc.<sup>(a)</sup> | 228 |  | 39515 |
|  Microsoft Corp. | 24030 |  | 11621389 |
|  MicroStrategy, Inc. — Class A<sup>(a)</sup> | 56 |  | 8509 |
|  nCino, Inc.<sup>(a)</sup> | 57 |  | 1461 |
|  Nutanix, Inc. — Class A<sup>(a)</sup> | 243 |  | 12561 |
|  Oracle Corp. | 6411 |  | 1249568 |
|  Palantir Technologies, Inc. — Class A<sup>(a)</sup> | 8319 |  | 1478702 |
|  Palo Alto Networks, Inc.<sup>(a)</sup> | 2557 |  | 470999 |
|  Pegasystems, Inc. | 110 |  | 6569 |
|  Procore Technologies, Inc.<sup>(a)</sup> | 436 |  | 31715 |
|  PTC, Inc.<sup>(a)</sup> | 52 |  | 9059 |
|  RingCentral, Inc. — Class A<sup>(a)</sup> | 305 |  | 8808 |
|  Rubrik, Inc. — Class A<sup>(a)</sup> | 304 |  | 23250 |
|  Salesforce, Inc. | 398 |  | 105434 |
|  Samsara, Inc. — Class A<sup>(a)</sup> | 1189 |  | 42150 |
|  SentinelOne, Inc. — Class A<sup>(a)</sup> | 811 |  | 12165 |
|  ServiceNow, Inc.<sup>(a)</sup> | 3936 |  | 602956 |
|  Synopsys, Inc.<sup>(a)</sup> | 516 |  | 242376 |
|  Teradata Corp.<sup>(a)</sup> | 81 |  | 2466 |
|  Tyler Technologies, Inc.<sup>(a)</sup> | 136 |  | 61737 |
|  Unity Software, Inc.<sup>(a)</sup> | 71 |  | 3136 |
|  Workday, Inc. — Class A<sup>(a)</sup> | 819 |  | 175905 |
|  Zscaler, Inc.<sup>(a)</sup> | 380 |  | 85470 |
|  |  |  | 20314017 |
|  **Technology Hardware, Storage & Peripherals — 11.1%** | **Technology Hardware, Storage & Peripherals — 11.1%** | **Technology Hardware, Storage & Peripherals — 11.1%** | **Technology Hardware, Storage & Peripherals — 11.1%** |
|  Apple, Inc. | 46897 |  | 12749418 |
|  Dell Technologies, Inc. — Class C | 166 |  | 20896 |
|  NetApp, Inc. | 300 |  | 32127 |
|  Pure Storage, Inc. — Class A<sup>(a)</sup> | 1014 |  | 67948 |
|  Super Micro Computer, Inc.<sup>(a)</sup> | 896 |  | 26226 |
|  |  |  | 12896615 |
|  Total Information Technology |  |  | 57584655 |
|  **Consumer Discretionary — 13.2%** | **Consumer Discretionary — 13.2%** | **Consumer Discretionary — 13.2%** | **Consumer Discretionary — 13.2%** |
|  **Automobiles — 3.8%** | **Automobiles — 3.8%** | **Automobiles — 3.8%** | **Automobiles — 3.8%** |
|  Tesla, Inc.<sup>(a)</sup> | 9707 |  | 4365432 |
|  **Broadline Retail — 4.6%** | **Broadline Retail — 4.6%** | **Broadline Retail — 4.6%** | **Broadline Retail — 4.6%** |
|  Amazon.com, Inc.<sup>(a)</sup> | 22508 |  | 5195297 |
|  Coupang, Inc.<sup>(a)</sup> | 4983 |  | 117549 |
|  Etsy, Inc.<sup>(a)</sup> | 214 |  | 11864 |
|  |  |  | 5324710 |
|  **Distributors — 0.0%** | **Distributors — 0.0%** | **Distributors — 0.0%** | **Distributors — 0.0%** |
|  Pool Corp. | 23 |  | 5261 |
|  **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** |
|  Bright Horizons Family Solutions, Inc.<sup>(a)</sup> | 28 |  | 2839 |
|  Duolingo, Inc.<sup>(a)</sup> | 145 |  | 25448 |
|  Grand Canyon Education, Inc.<sup>(a)</sup> | 29 |  | 4823 |
|  H&R Block, Inc. | 81 |  | 3530 |
|  |  |  | 36640 |

---

------

**SEPARATE ACCOUNT NO. 4 (POOLED)** 

**PORTFOLIO OF INVESTMENTS (Continued)** 

**DECEMBER 31, 2025** 

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **Hotels, Restaurants & Leisure — 2.6%** | **Hotels, Restaurants & Leisure — 2.6%** | **Hotels, Restaurants & Leisure — 2.6%** |
|  Airbnb, Inc. — Class A<sup>(a)</sup> | 1620 | $219866 |
|  Booking Holdings, Inc. | 116 | 621218 |
|  Carnival Corp.<sup>(a)</sup> | 1270 | 38786 |
|  Cava Group, Inc.<sup>(a)</sup> | 380 | 22302 |
|  Chipotle Mexican Grill, Inc.<sup>(a)</sup> | 5013 | 185481 |
|  Choice Hotels International, Inc. | 31 | 2953 |
|  Churchill Downs, Inc. | 212 | 24121 |
|  Darden Restaurants, Inc. | 423 | 77840 |
|  Domino's Pizza, Inc. | 36 | 15006 |
|  DoorDash, Inc. — Class A<sup>(a)</sup> | 1366 | 309372 |
|  DraftKings, Inc. — Class A<sup>(a)</sup> | 1830 | 63062 |
|  Dutch Bros, Inc. — Class A<sup>(a)</sup> | 447 | 27365 |
|  Expedia Group, Inc. | 446 | 126356 |
|  Flutter Entertainment PLC<sup>(a)</sup> | 497 | 106875 |
|  Hilton Worldwide Holdings, Inc. | 869 | 249620 |
|  Las Vegas Sands Corp. | 1167 | 75960 |
|  Marriott International, Inc. — Class A | 656 | 203517 |
|  McDonald's Corp. | 154 | 47067 |
|  Norwegian Cruise Line Holdings Ltd.<sup>(a)</sup> | 1543 | 34440 |
|  Planet Fitness, Inc. — Class A<sup>(a)</sup> | 320 | 34710 |
|  Restaurant Brands International, Inc. | 785 | 53561 |
|  Royal Caribbean Cruises Ltd. | 965 | 269158 |
|  Starbucks Corp. | 573 | 48252 |
|  Texas Roadhouse, Inc. | 252 | 41832 |
|  Travel & Leisure Co. | 77 | 5431 |
|  Vail Resorts, Inc. | 107 | 14210 |
|  Viking Holdings Ltd.<sup>(a)</sup> | 664 | 47416 |
|  Wendy's Co. (The) | 266 | 2216 |
|  Wingstop, Inc. | 106 | 25280 |
|  Wyndham Hotels & Resorts, Inc. | 253 | 19117 |
|  Yum! Brands, Inc. | 357 | 54007 |
|  |  | 3066397 |
|  **Household Durables — 0.1%** | **Household Durables — 0.1%** | **Household Durables — 0.1%** |
|  SharkNinja, Inc.<sup>(a)</sup> | 54 | 6043 |
|  Somnigroup International, Inc. | 770 | 68746 |
|  TopBuild Corp.<sup>(a)</sup> | 8 | 3337 |
|  |  | 78126 |
|  **Specialty Retail — 1.9%** | **Specialty Retail — 1.9%** | **Specialty Retail — 1.9%** |
|  AutoZone, Inc.<sup>(a)</sup> | 10 | 33915 |
|  Burlington Stores, Inc.<sup>(a)</sup> | 239 | 69035 |
|  Carvana Co.<sup>(a)</sup> | 515 | 217340 |
|  Chewy, Inc. — Class A<sup>(a)</sup> | 832 | 27498 |
|  Dynatrace, Inc.<sup>(a)</sup> | 1118 | 48454 |
|  Floor & Decor Holdings, Inc. — Class A<sup>(a)</sup> | 129 | 7855 |
|  Home Depot, Inc. (The) | 2890 | 994449 |
|  Lithia Motors, Inc. | 10 | 3323 |
|  Murphy USA, Inc. | 65 | 26229 |
|  O'Reilly Automotive, Inc.<sup>(a)</sup> | 2949 | 268978 |
|  RH<sup>(a)</sup> | 10 | 1792 |
|  Ross Stores, Inc. | 242 | 43594 |
|  TJX Cos., Inc. (The) | 2130 | 327189 |
|  Tractor Supply Co. | 2025 | 101270 |
|  Ulta Beauty, Inc.<sup>(a)</sup> | 43 | 26015 |
|  Valvoline, Inc.<sup>(a)</sup> | 429 | 12467 |
|  Wayfair, Inc. — Class A<sup>(a)</sup> | 67 | 6727 |
|  Williams-Sonoma, Inc. | 67 | 11966 |
|  |  | 2228096 |

---

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **Textiles, Apparel & Luxury Goods — 0.2%** | **Textiles, Apparel & Luxury Goods — 0.2%** | **Textiles, Apparel & Luxury Goods — 0.2%** |
|  Birkenstock Holding PLC<sup>(a)</sup> | 61 | $2495 |
|  Deckers Outdoor Corp.<sup>(a)</sup> | 553 | 57329 |
|  Lululemon Athletica, Inc.<sup>(a)</sup> | 228 | 47381 |
|  On Holding AG — Class A<sup>(a)</sup> | 850 | 39508 |
|  Ralph Lauren Corp. | 11 | 3890 |
|  Tapestry, Inc. | 722 | 92250 |
|  |  | 242853 |
|  Total Consumer Discretionary | Total Consumer Discretionary | 15347515 |
|  **Communication Services — 11.9%** | **Communication Services — 11.9%** | **Communication Services — 11.9%** |
|  **Diversified Telecommunication Services — 0.0%** | **Diversified Telecommunication Services — 0.0%** | **Diversified Telecommunication Services — 0.0%** |
|  AST SpaceMobile, Inc.<sup>(a)</sup> | 774 | 56215 |
|  GCI Liberty, Inc. Class A<sup>(a)</sup> | 3 | 110 |
|  GCI Liberty, Inc. Class C<sup>(a)</sup> | 18 | 670 |
|  Iridium Communications, Inc. | 28 | 487 |
|  |  | 57482 |
|  **Entertainment — 1.9%** | **Entertainment — 1.9%** | **Entertainment — 1.9%** |
|  Liberty Media Corp-Liberty Formula One — Class A<sup>(a)</sup> | 27 | 2413 |
|  Liberty Media Corp-Liberty Formula One — Class C<sup>(a)</sup> | 248 | 24431 |
|  Live Nation Entertainment, Inc.<sup>(a)</sup> | 603 | 85928 |
|  Netflix, Inc.<sup>(a)</sup> | 16141 | 1513380 |
|  ROBLOX Corp. — Class A<sup>(a)</sup> | 2362 | 191393 |
|  Roku, Inc.<sup>(a)</sup> | 64 | 6943 |
|  Spotify Technology SA<sup>(a)</sup> | 586 | 340296 |
|  Take-Two Interactive Software, Inc.<sup>(a)</sup> | 235 | 60167 |
|  TKO Group Holdings, Inc. | 112 | 23408 |
|  |  | 2248359 |
|  **Interactive Media & Services — 9.9%** | **Interactive Media & Services — 9.9%** | **Interactive Media & Services — 9.9%** |
|  Alphabet, Inc. — Class A | 12581 | 3937853 |
|  Alphabet, Inc. — Class C | 10244 | 3214567 |
|  Meta Platforms, Inc. — Class A | 6333 | 4180350 |
|  Pinterest, Inc. — Class A<sup>(a)</sup> | 1117 | 28919 |
|  Reddit, Inc. — Class A<sup>(a)</sup> | 473 | 108729 |
|  |  | 11470418 |
|  **Media — 0.1%** | **Media — 0.1%** | **Media — 0.1%** |
|  DoubleVerify Holdings, Inc.<sup>(a)</sup> | 263 | 3009 |
|  Liberty Broadband Corp. — Class A<sup>(a)</sup> | 13 | 628 |
|  Liberty Broadband Corp. — Class C<sup>(a)</sup> | 92 | 4471 |
|  Nexstar Media Group, Inc. | 6 | 1218 |
|  NIQ Global Intelligence PLC<sup>(a)</sup> | 90 | 1484 |
|  Trade Desk, Inc. (The) — Class A<sup>(a)</sup> | 1699 | 64494 |
|  |  | 75304 |
|  Total Communication Services |  | 13851563 |
|  **Health Care — 8.0%** | **Health Care — 8.0%** | **Health Care — 8.0%** |
|  **Biotechnology — 2.8%** | **Biotechnology — 2.8%** | **Biotechnology — 2.8%** |
|  AbbVie, Inc. | 6747 | 1541622 |
|  Alnylam Pharmaceuticals, Inc.<sup>(a)</sup> | 483 | 192065 |
|  Amgen, Inc. | 1511 | 494565 |
|  Apellis Pharmaceuticals, Inc.<sup>(a)</sup> | 411 | 10324 |
|  Caris Life Sciences, Inc.<sup>(a)</sup> | 43 | 1160 |
|  Exact Sciences Corp.<sup>(a)</sup> | 39 | 3961 |
|  Exelixis, Inc.<sup>(a)</sup> | 812 | 35590 |
|  Gilead Sciences, Inc. | 1277 | 156739 |
|  Halozyme Therapeutics, Inc.<sup>(a)</sup> | 442 | 29747 |

---

------

**SEPARATE ACCOUNT NO. 4 (POOLED)** 

**PORTFOLIO OF INVESTMENTS (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | |
|:---|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** | **U.S. $ Value** |
|  **Biotechnology (Continued)** | **Biotechnology (Continued)** | **Biotechnology (Continued)** | **Biotechnology (Continued)** |
|  Incyte Corp.<sup>(a)</sup> | 158 | $| 15606 |
|  Insmed, Inc.<sup>(a)</sup> | 747 |  | 130008 |
|  Ionis Pharmaceuticals, Inc.<sup>(a)</sup> | 560 |  | 44302 |
|  Natera, Inc.<sup>(a)</sup> | 494 |  | 113170 |
|  Neurocrine Biosciences, Inc.<sup>(a)</sup> | 316 |  | 44818 |
|  Sarepta Therapeutics, Inc.<sup>(a)</sup> | 294 |  | 6327 |
|  Summit Therapeutics, Inc.<sup>(a)</sup> | 445 |  | 7783 |
|  Ultragenyx Pharmaceutical, Inc.<sup>(a)</sup> | 351 |  | 8073 |
|  Vertex Pharmaceuticals, Inc.<sup>(a)</sup> | 979 |  | 443839 |
|  Viking Therapeutics, Inc.<sup>(a)</sup> | 33 |  | 1161 |
|  |  |  | 3280860 |
|  **Health Care Equipment & Supplies — 1.3%** | **Health Care Equipment & Supplies — 1.3%** | **Health Care Equipment & Supplies — 1.3%** | **Health Care Equipment & Supplies — 1.3%** |
|  Boston Scientific Corp.<sup>(a)</sup> | 969 |  | 92394 |
|  Dexcom, Inc.<sup>(a)</sup> | 1489 |  | 98825 |
|  Doximity, Inc. — Class A<sup>(a)</sup> | 508 |  | 22494 |
|  IDEXX Laboratories, Inc.<sup>(a)</sup> | 303 |  | 204989 |
|  Inspire Medical Systems, Inc.<sup>(a)</sup> | 103 |  | 9500 |
|  Insulet Corp.<sup>(a)</sup> | 267 |  | 75892 |
|  Intuitive Surgical, Inc.<sup>(a)</sup> | 1344 |  | 761188 |
|  Masimo Corp.<sup>(a)</sup> | 172 |  | 22370 |
|  Penumbra, Inc.<sup>(a)</sup> | 142 |  | 44149 |
|  ResMed, Inc. | 131 |  | 31554 |
|  Stryker Corp. | 337 |  | 118445 |
|  |  |  | 1481800 |
|  **Health Care Providers & Services — 0.7%** | **Health Care Providers & Services — 0.7%** | **Health Care Providers & Services — 0.7%** | **Health Care Providers & Services — 0.7%** |
|  Cardinal Health, Inc. | 457 |  | 93914 |
|  Cencora, Inc. | 697 |  | 235412 |
|  Chemed Corp. | 5 |  | 2139 |
|  Cigna Group (The) | 80 |  | 22018 |
|  DaVita, Inc.<sup>(a)</sup> | 134 |  | 15224 |
|  HCA Healthcare, Inc. | 131 |  | 61159 |
|  McKesson Corp. | 441 |  | 361748 |
|  Molina Healthcare, Inc.<sup>(a)</sup> | 106 |  | 18395 |
|  |  |  | 810009 |
|  **Health Care Technology — 0.1%** | **Health Care Technology — 0.1%** | **Health Care Technology — 0.1%** | **Health Care Technology — 0.1%** |
|  Veeva Systems, Inc. — Class A<sup>(a)</sup> | 448 |  | 100007 |
|  **Life Sciences Tools & Services — 0.1%** | **Life Sciences Tools & Services — 0.1%** | **Life Sciences Tools & Services — 0.1%** | **Life Sciences Tools & Services — 0.1%** |
|  Medpace Holdings, Inc.<sup>(a)</sup> | 85 |  | 47740 |
|  Repligen Corp.<sup>(a)</sup> | 25 |  | 4097 |
|  Sotera Health Co.<sup>(a)</sup> | 75 |  | 1323 |
|  Tempus AI, Inc.<sup>(a)</sup> | 366 |  | 21612 |
|  Waters Corp.<sup>(a)</sup> | 119 |  | 45200 |
|  |  |  | 119972 |
|  **Pharmaceuticals — 3.0%** | **Pharmaceuticals — 3.0%** | **Pharmaceuticals — 3.0%** | **Pharmaceuticals — 3.0%** |
|  Bristol-Myers Squibb Co. | 1493 |  | 80533 |
|  Corcept Therapeutics, Inc.<sup>(a)</sup> | 358 |  | 12458 |
|  Eli Lilly & Co. | 3051 |  | 3278849 |
|  Zoetis, Inc. | 1356 |  | 170612 |
|  |  |  | 3542452 |
|  Total Health Care |  |  | 9335100 |
|  **Financials — 6.3%** | **Financials — 6.3%** | **Financials — 6.3%** | **Financials — 6.3%** |
|  **Banks — 0.4%** | **Banks — 0.4%** | **Banks — 0.4%** | **Banks — 0.4%** |
|  Bank of America Corp. | 2012 |  | 110660 |
|  Citigroup, Inc. | 1207 |  | 140845 |
|  NU Holdings Ltd. — Class A<sup>(a)</sup> | 12740 |  | 213268 |
|  Pinnacle Financial Partners, Inc. | 20 |  | 1908 |
|  Popular, Inc. | 22 |  | 2739 |
|  Western Alliance Bancorp | 86 |  | 7230 |
|  |  |  | 476650 |

---

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **Capital Markets — 1.4%** | **Capital Markets — 1.4%** | **Capital Markets — 1.4%** |
|  Ameriprise Financial, Inc. | 321 | $157399 |
|  Ares Management Corp. — Class A | 717 | 115889 |
|  Bank of New York Mellon Corp. (The) | 193 | 22405 |
|  Blackstone, Inc. | 2825 | 435445 |
|  Blue Owl Capital, Inc. | 2418 | 36125 |
|  Brookfield Asset Management Ltd. — Class A (United States) | 502 | 26300 |
|  Bullish<sup>(a)</sup> | 20 | 757 |
|  Charles Schwab Corp. (The) | 568 | 56749 |
|  FactSet Research Systems, Inc. | 9 | 2612 |
|  Freedom Holding Corp.<sup>(a)</sup> | 57 | 6936 |
|  Goldman Sachs Group, Inc. (The) | 60 | 52740 |
|  Hamilton Lane, Inc. — Class A | 101 | 13565 |
|  Houlihan Lokey, Inc. | 79 | 13761 |
|  Interactive Brokers Group, Inc. — Class A | 87 | 5595 |
|  Jefferies Financial Group, Inc. | 142 | 8800 |
|  KKR & Co., Inc. | 644 | 82097 |
|  Lazard, Inc. | 68 | 3302 |
|  LPL Financial Holdings, Inc. | 303 | 108223 |
|  Moody's Corp. | 592 | 302423 |
|  MSCI, Inc. | 136 | 78027 |
|  Robinhood Markets, Inc. — Class A<sup>(a)</sup> | 377 | 42639 |
|  TPG, Inc. | 473 | 30196 |
|  Tradeweb Markets, Inc. — Class A | 37 | 3979 |
|  XP, Inc. — Class A | 133 | 2177 |
|  |  | 1608141 |
|  **Consumer Finance — 0.2%** | **Consumer Finance — 0.2%** | **Consumer Finance — 0.2%** |
|  Ally Financial, Inc. | 124 | 5616 |
|  American Express Co. | 674 | 249346 |
|  Credit Acceptance Corp.<sup>(a)</sup> | 2 | 887 |
|  Figure Technology Solutions, Inc. — Class A<sup>(a)</sup> | 24 | 980 |
|  SLM Corp. | 106 | 2869 |
|  SoFi Technologies, Inc.<sup>(a)</sup> | 633 | 16572 |
|  |  | 276270 |
|  **Financial Services — 3.9%** | **Financial Services — 3.9%** | **Financial Services — 3.9%** |
|  Affirm Holdings, Inc.<sup>(a)</sup> | 622 | 46295 |
|  Apollo Global Management, Inc. | 1093 | 158223 |
|  Block, Inc.<sup>(a)</sup> | 754 | 49078 |
|  Corpay, Inc.<sup>(a)</sup> | 259 | 77941 |
|  Equitable Holdings, Inc. | 1106 | 52701 |
|  Fiserv, Inc.<sup>(a)</sup> | 563 | 37817 |
|  Mastercard, Inc. — Class A | 3064 | 1749176 |
|  Morningstar, Inc. | 58 | 12604 |
|  Shift4 Payments, Inc. — Class A<sup>(a)</sup> | 252 | 15868 |
|  Toast, Inc. — Class A<sup>(a)</sup> | 1764 | 62640 |
|  UWM Holdings Corp. | 72 | 315 |
|  Visa, Inc. — Class A | 6411 | 2248402 |
|  WEX, Inc.<sup>(a)</sup> | 11 | 1639 |
|  |  | 4512699 |
|  **Insurance — 0.4%** | **Insurance — 0.4%** | **Insurance — 0.4%** |
|  Aon PLC — Class A | 739 | 260778 |
|  Arthur J Gallagher & Co. | 59 | 15269 |
|  Brown & Brown, Inc. | 116 | 9245 |
|  Everest Group Ltd. | 22 | 7466 |
|  Kinsale Capital Group, Inc. | 84 | 32854 |
|  Markel Group, Inc.<sup>(a)</sup> | 10 | 21496 |
|  Marsh & McLennan Cos., Inc. | 223 | 41371 |
|  Progressive Corp. (The) | 112 | 25505 |
|  RLI Corp. | 17 | 1088 |
|  Ryan Specialty Holdings, Inc. | 405 | 20910 |
|  |  | 435982 |
|  Total Financials |  | 7309742 |

---

------

**SEPARATE ACCOUNT NO. 4 (POOLED)** 

**PORTFOLIO OF INVESTMENTS (Continued)** 

**DECEMBER 31, 2025** 

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **Industrials — 5.9%** | **Industrials — 5.9%** | **Industrials — 5.9%** |
|  **Aerospace & Defense — 1.9%** | **Aerospace & Defense — 1.9%** | **Aerospace & Defense — 1.9%** |
|  Axon Enterprise, Inc.<sup>(a)</sup> | 284 | $161292 |
|  Boeing Co. (The)<sup>(a)</sup> | 400 | 86850 |
|  Carpenter Technology Corp. | 32 | 10075 |
|  General Electric Co. | 3962 | 1220415 |
|  HEICO Corp. | 162 | 52422 |
|  HEICO Corp. — Class A | 286 | 72195 |
|  Howmet Aerospace, Inc. | 1527 | 313065 |
|  Karman Holdings, Inc.<sup>(a)</sup> | 194 | 14195 |
|  Leonardo DRS, Inc. | 113 | 3852 |
|  Loar Holdings, Inc.<sup>(a)</sup> | 147 | 9996 |
|  Lockheed Martin Corp. | 219 | 105924 |
|  Rocket Lab Corp.<sup>(a)</sup> | 1576 | 109942 |
|  StandardAero, Inc.<sup>(a)</sup> | 48 | 1377 |
|  TransDigm Group, Inc. | 37 | 49204 |
|  |  | 2210804 |
|  **Building Products — 0.4%** | **Building Products — 0.4%** | **Building Products — 0.4%** |
|  AAON, Inc. | 256 | 19520 |
|  Armstrong World Industries, Inc. | 48 | 9173 |
|  Carlisle Cos., Inc. | 19 | 6077 |
|  Lennox International, Inc. | 121 | 58755 |
|  Simpson Manufacturing Co., Inc. | 13 | 2099 |
|  Trane Technologies PLC | 849 | 330431 |
|  |  | 426055 |
|  **Commercial Services & Supplies — 0.7%** | **Commercial Services & Supplies — 0.7%** | **Commercial Services & Supplies — 0.7%** |
|  Cintas Corp. | 1309 | 246184 |
|  Copart, Inc.<sup>(a)</sup> | 3137 | 122814 |
|  RB Global, Inc. | 43 | 4423 |
|  Rollins, Inc. | 1069 | 64161 |
|  Tetra Tech, Inc. | 186 | 6239 |
|  Veralto Corp. | 360 | 35921 |
|  Waste Management, Inc. | 1409 | 309571 |
|  |  | 789313 |
|  **Construction & Engineering — 0.3%** | **Construction & Engineering — 0.3%** | **Construction & Engineering — 0.3%** |
|  Comfort Systems USA, Inc. | 132 | 123194 |
|  EMCOR Group, Inc. | 58 | 35484 |
|  MasTec, Inc.<sup>(a)</sup> | 50 | 10868 |
|  Quanta Services, Inc. | 434 | 183174 |
|  WillScot Holdings Corp. | 172 | 3239 |
|  |  | 355959 |
|  **Electrical Equipment — 0.8%** | **Electrical Equipment — 0.8%** | **Electrical Equipment — 0.8%** |
|  BWX Technologies, Inc. | 61 | 10543 |
|  GE Vernova, Inc. | 1041 | 680366 |
|  Rockwell Automation, Inc. | 35 | 13618 |
|  Vertiv Holdings Co. — Class A | 1449 | 234753 |
|  |  | 939280 |
|  **Ground Transportation — 0.6%** | **Ground Transportation — 0.6%** | **Ground Transportation — 0.6%** |
|  Avis Budget Group, Inc.<sup>(a)</sup> | 22 | 2823 |
|  Lyft, Inc. — Class A<sup>(a)</sup> | 235 | 4552 |
|  Old Dominion Freight Line, Inc. | 40 | 6272 |
|  U-Haul Holding Co.<sup>(a)</sup> | 11 | 554 |
|  U-Haul Holding Co. (Non-Voting) | 147 | 6871 |
|  Uber Technologies, Inc.<sup>(a)</sup> | 7668 | 626552 |
|  Union Pacific Corp. | 180 | 41638 |
|  XPO, Inc.<sup>(a)</sup> | 90 | 12232 |
|  |  | 701494 |

---

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** |
|  3M Co. | 327 | $52353 |
|  **Machinery — 0.2%** | **Machinery — 0.2%** | **Machinery — 0.2%** |
|  Allison Transmission Holdings, Inc. | 53 | 5189 |
|  Caterpillar, Inc. | 217 | 124313 |
|  Illinois Tool Works, Inc. | 361 | 88914 |
|  RBC Bearings, Inc.<sup>(a)</sup> | 24 | 10762 |
|  |  | 229178 |
|  **Passenger Airlines — 0.0%** | **Passenger Airlines — 0.0%** | **Passenger Airlines — 0.0%** |
|  Alaska Air Group, Inc.<sup>(a)</sup> | 76 | 3823 |
|  American Airlines Group, Inc.<sup>(a)</sup> | 156 | 2391 |
|  Southwest Airlines Co. | 185 | 7646 |
|  |  | 13860 |
|  **Professional Services — 0.6%** | **Professional Services — 0.6%** | **Professional Services — 0.6%** |
|  Automatic Data Processing, Inc. | 1439 | 370154 |
|  Booz Allen Hamilton Holding Corp. | 456 | 38468 |
|  Broadridge Financial Solutions, Inc. | 403 | 89938 |
|  Dayforce, Inc.<sup>(a)</sup> | 54 | 3735 |
|  Equifax, Inc. | 81 | 17575 |
|  ExlService Holdings, Inc.<sup>(a)</sup> | 588 | 24955 |
|  KBR, Inc. | 36 | 1447 |
|  Paychex, Inc. | 385 | 43189 |
|  Paycom Software, Inc. | 107 | 17052 |
|  Paylocity Holding Corp.<sup>(a)</sup> | 153 | 23332 |
|  Verisk Analytics, Inc. | 320 | 71581 |
|  |  | 701426 |
|  **Trading Companies & Distributors — 0.4%** | **Trading Companies & Distributors — 0.4%** | **Trading Companies & Distributors — 0.4%** |
|  Core & Main, Inc. — Class A<sup>(a)</sup> | 420 | 21827 |
|  Fastenal Co. | 3590 | 144067 |
|  Ferguson Enterprises, Inc. | 43 | 9573 |
|  FTAI Aviation Ltd. | 388 | 76378 |
|  SiteOne Landscape Supply, Inc.<sup>(a)</sup> | 54 | 6726 |
|  WW Grainger, Inc. | 142 | 143285 |
|  |  | 401856 |
|  Total Industrials |  | 6821578 |
|  **Consumer Staples — 2.4%** | **Consumer Staples — 2.4%** | **Consumer Staples — 2.4%** |
|  **Beverages — 0.7%** | **Beverages — 0.7%** | **Beverages — 0.7%** |
|  Celsius Holdings, Inc.<sup>(a)</sup> | 598 | 27352 |
|  Coca-Cola Co. (The) | 7237 | 505939 |
|  Coca-Cola Consolidated, Inc. | 30 | 4599 |
|  Monster Beverage Corp.<sup>(a)</sup> | 2657 | 203712 |
|  PepsiCo, Inc. | 715 | 102617 |
|  |  | 844219 |
|  **Consumer Staples Distribution & Retail — 1.5%** | **Consumer Staples Distribution & Retail — 1.5%** | **Consumer Staples Distribution & Retail — 1.5%** |
|  BJ's Wholesale Club Holdings, Inc.<sup>(a)</sup> | 74 | 6662 |
|  Casey's General Stores, Inc. | 21 | 11607 |
|  Costco Wholesale Corp. | 1690 | 1457355 |
|  Performance Food Group Co.<sup>(a)</sup> | 72 | 6474 |
|  Sprouts Farmers Market, Inc.<sup>(a)</sup> | 373 | 29717 |
|  Sysco Corp. | 977 | 71995 |
|  Walmart, Inc. | 1656 | 184495 |
|  |  | 1768305 |
|  **Food Products — 0.0%** | **Food Products — 0.0%** | **Food Products — 0.0%** |
|  Darling Ingredients, Inc.<sup>(a)</sup> | 67 | 2412 |
|  Freshpet, Inc.<sup>(a)</sup> | 50 | 3046 |
|  Hershey Co. (The) | 67 | 12193 |
|  |  | 17651 |

---

------

**SEPARATE ACCOUNT NO. 4 (POOLED)** 

**PORTFOLIO OF INVESTMENTS (Continued)** 

**DECEMBER 31, 2025** 

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **Household Products — 0.2%** | **Household Products — 0.2%** | **Household Products — 0.2%** |
|  Colgate-Palmolive Co. | 1451 | $114658 |
|  Kimberly-Clark Corp. | 456 | 46006 |
|  |  | 160664 |
|  Total Consumer Staples |  | 2790839 |
|  **Real Estate — 0.4%** | **Real Estate — 0.4%** | **Real Estate — 0.4%** |
|  **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** |
|  CBRE Group, Inc. — Class A<sup>(a)</sup> | 124 | 19938 |
|  CoStar Group, Inc.<sup>(a)</sup> | 197 | 13246 |
|  Jones Lang LaSalle, Inc.<sup>(a)</sup> | 48 | 16151 |
|  Trump Media & Technology Group Corp.<sup>(a)</sup> | 331 | 4382 |
|  |  | 53717 |
|  **Residential REITs — 0.0%** | **Residential REITs — 0.0%** | **Residential REITs — 0.0%** |
|  Sun Communities, Inc. | 89 | 11028 |
|  UDR, Inc. | 69 | 2531 |
|  |  | 13559 |
|  **Retail REITs — 0.0%** | **Retail REITs — 0.0%** | **Retail REITs — 0.0%** |
|  Simon Property Group, Inc. | 274 | 50720 |
|  **Specialized REITs — 0.3%** | **Specialized REITs — 0.3%** | **Specialized REITs — 0.3%** |
|  American Tower Corp. | 1781 | 312690 |
|  Lamar Advertising Co. — Class A | 328 | 41518 |
|  Public Storage | 79 | 20501 |
|  |  | 374709 |
|  Total Real Estate |  | 492705 |
|  **Materials — 0.3%** | **Materials — 0.3%** | **Materials — 0.3%** |
|  **Chemicals — 0.3%** | **Chemicals — 0.3%** | **Chemicals — 0.3%** |
|  Ecolab, Inc. | 233 | 61167 |
|  Sherwin-Williams Co. (The) | 797 | 258252 |
|  |  | 319419 |
|  **Construction Materials — 0.0%** | **Construction Materials — 0.0%** | **Construction Materials — 0.0%** |
|  Eagle Materials, Inc. | 7 | 1447 |
|  James Hardie Industries PLC<sup>(a)</sup> | 363 | 7532 |
|  |  | 8979 |
|  **Metals & Mining — 0.0%** | **Metals & Mining — 0.0%** | **Metals & Mining — 0.0%** |
|  Anglogold Ashanti PLC | 233 | 19870 |
|  Steel Dynamics, Inc. | 50 | 8473 |
|  |  | 28343 |
|  Total Materials |  | 356741 |
|  **Energy — 0.3%** | **Energy — 0.3%** | **Energy — 0.3%** |
|  **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** |
|  Schlumberger NV | 451 | 17310 |
|  **Oil, Gas & Consumable Fuels — 0.3%** | **Oil, Gas & Consumable Fuels — 0.3%** | **Oil, Gas & Consumable Fuels — 0.3%** |
|  Cheniere Energy, Inc. | 365 | 70952 |
|  HF Sinclair Corp. | 59 | 2719 |
|  Phillips 66 | 110 | 14194 |
|  Targa Resources Corp. | 809 | 149261 |
|  Texas Pacific Land Corp. | 210 | 60316 |
|  Williams Cos., Inc. (The) | 246 | 14787 |
|  |  | 312229 |
|  Total Energy |  | 329539 |

---

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **Utilities — 0.3%** | **Utilities — 0.3%** | **Utilities — 0.3%** |
|  **Electric Utilities — 0.1%** | **Electric Utilities — 0.1%** | **Electric Utilities — 0.1%** |
|  NRG Energy, Inc. | 717 | $114175 |
|  **Independent Power and Renewable Electricity Producers — 0.2%** | **Independent Power and Renewable Electricity Producers — 0.2%** | **Independent Power and Renewable Electricity Producers — 0.2%** |
|  Vistra Corp. | 1288 | 207793 |
|  Total Utilities |  | 321968 |
|  **Total Investments — 98.5%** <br> (cost $55,997,110) |  | 114541945 |
|  Other assets less liabilities — 1.5% |  | 1705156 |
|  **Net Assets — 100.0%** |  | $116247101 |

---

------

**SEPARATE ACCOUNT NO. 4 (POOLED)** 

**PORTFOLIO OF INVESTMENTS (Concluded)** 

**DECEMBER 31, 2025** 

**FUTURES** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Month** | **Current<br>Notional** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Purchased Contracts** |  |  |  |  |
|  S&P 500 Index E-Mini Futures | 31 | March 2026 | $11545 | $(11586) |

---

(a) Non-income producing security.

Glossary:

*REIT* — *Real Estate Investment Trust*

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 4 (POOLED)** 

**PORTFOLIO SUMMARY** 

**DECEMBER 31, 2025** 

---

| | |
|:---|:---|
| **% of Total Investments\*** | **Country Diversification** |
| 99.5% | United States |
| 0.5% | Other |
| 100.0% |  |

---

\* The Fund's country breakdown is expressed as a percentage of long-term investments and may vary over time. "Other" country weightings represent 0.2% or less in the following: Australia, Brazil, Canada, Cayman Islands, Germany, Kazakhstan, Puerto Rico, South Korea, Switzerland and United Kingdom.

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 3 (POOLED)** 

**STATEMENT OF ASSETS AND LIABILITIES** 

**DECEMBER 31, 2025** 

---

| | | |
|:---|:---|:---|
|  **Assets:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments (Notes 2 and 3): |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks — at fair value (cost: $17,546,540) |  | $20108856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash |  | 125649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from Equitable Financial's General Account |  | 72636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fees receivable from contractowners |  | 6234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest and dividends receivable |  | 3877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets |  | 20317252 |
|  **Liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset management fee payable |  | 17667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued custody and bank fees |  | 1534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued Expenses |  | 4877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities |  | 24078 |
|  **Net Assets Attributable to Contractowners or in Accumulation** |  | $20293174 |
|  | **Units Outstanding** | **Unit<br>Values** |
|  Institutional | 71.71 | $20728.24 |
|  RIA | 4868.81 | 176.85 |
|  MRP | 504939.62 | 35.56 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 3 (POOLED)** 

**STATEMENT OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2025** 

---

| | |
|:---|:---|
|  **Investment Income (Note 2):** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends | $88093 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest | 21218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total investment income | 109311 |
|  **Expenses (Note 6):** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees | (133394) |
| &nbsp;&nbsp;&nbsp;&nbsp; Custody and bank fees | (3628) |
| &nbsp;&nbsp;&nbsp;&nbsp; Other operating expenses | (2709) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total expenses | (139731) |
|  **Net Investment Income (Loss)** | (30420) |
|  **Realized and Unrealized Gain (Loss) on Investments (Note 2):** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) from investments | 3481739 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (1851337) |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 1630402 |
|  **Net Increase (Decrease) in Net Assets Attributable to Operations** | $1599982 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 3 (POOLED)** 

**STATEMENTS OF CHANGES IN NET ASSETS** 

---

| | | |
|:---|:---|:---|
|  | **Year Ended<br>December 31, 2025** | **Year Ended<br>December 31, 2024** |
|  **Increase (Decrease) in Net Assets:** |  |  |
|  **From Operations:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $(30420) | $(35440) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 3481739 | 3956586 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (1851337) | 151329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in assets attributable to operations | 1599982 | 4072475 |
|  **From Contractowners Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Contributions | 1036186 | 1120131 |
| &nbsp;&nbsp;&nbsp;&nbsp; Withdrawals | (4825894) | (4970884) |
| &nbsp;&nbsp;&nbsp;&nbsp; Asset management fees (Note 6) | (83671) | (85663) |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees (Note 6) | (113309) | (122856) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets attributable to contractowners transactions | (3986688) | (4059272) |
|  **Increase (Decrease) in Net Assets** | (2386706) | 13203 |
|  **Net Assets Attributable to Contractowners or in Accumulation — Beginning of Year** | 22679880 | 22666677 |
|  **Net Assets Attributable to Contractowners or in Accumulation — End of Year** | $20293174 | $22679880 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 3 (POOLED)** 

**PORTFOLIO OF INVESTMENTS** 

**DECEMBER 31, 2025** 

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **COMMON STOCKS — 99.1%** | **COMMON STOCKS — 99.1%** | **COMMON STOCKS — 99.1%** |
|  **Industrials — 28.3%** | **Industrials — 28.3%** | **Industrials — 28.3%** |
|  **Aerospace & Defense — 9.9%** | **Aerospace & Defense — 9.9%** | **Aerospace & Defense — 9.9%** |
|  Curtiss-Wright Corp. | 818 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450939 |
|  Howmet Aerospace, Inc. | 4913 | 1007263 |
|  Rocket Lab Corp.<sup>(a)</sup> | 7757 | 541129 |
|  |  | 1999331 |
|  **Commercial Services & Supplies — 2.8%** | **Commercial Services & Supplies — 2.8%** | **Commercial Services & Supplies — 2.8%** |
|  Rollins, Inc. | 9546 | 572951 |
|  **Construction & Engineering — 3.9%** | **Construction & Engineering — 3.9%** | **Construction & Engineering — 3.9%** |
|  Quanta Services, Inc. | 1856 | 783343 |
|  **Electrical Equipment — 7.6%** | **Electrical Equipment — 7.6%** | **Electrical Equipment — 7.6%** |
|  AMETEK, Inc. | 1915 | 393168 |
|  BWX Technologies, Inc. | 2464 | 425878 |
|  Vertiv Holdings Co. — Class A | 4480 | 725805 |
|  |  | 1544851 |
|  **Professional Services — 2.2%** | **Professional Services — 2.2%** | **Professional Services — 2.2%** |
|  FTI Consulting, Inc.<sup>(a)</sup> | 2645 | 451845 |
|  **Trading Companies & Distributors — 1.9%** | **Trading Companies & Distributors — 1.9%** | **Trading Companies & Distributors — 1.9%** |
|  Ferguson Enterprises, Inc. | 1774 | 394946 |
|  Total Industrials |  | 5747267 |
|  **Information Technology — 23.4%** | **Information Technology — 23.4%** | **Information Technology — 23.4%** |
|  **Electronic Equipment, Instruments & Components — 3.0%** | **Electronic Equipment, Instruments & Components — 3.0%** | **Electronic Equipment, Instruments & Components — 3.0%** |
|  Celestica, Inc.<sup>(a)</sup> | 973 | 287629 |
|  Coherent Corp.<sup>(a)</sup> | 1744 | 321890 |
|  |  | 609519 |
|  **IT Services — 1.9%** | **IT Services — 1.9%** | **IT Services — 1.9%** |
|  MongoDB, Inc.<sup>(a)</sup> | 927 | 389053 |
|  **Semiconductors & Semiconductor Equipment — 4.2%** | **Semiconductors & Semiconductor Equipment — 4.2%** | **Semiconductors & Semiconductor Equipment — 4.2%** |
|  Credo Technology Group Holding Ltd.<sup>(a)</sup> | 2427 | 349221 |
|  Monolithic Power Systems, Inc. | 548 | 496685 |
|  |  | 845906 |
|  **Software — 12.6%** | **Software — 12.6%** | **Software — 12.6%** |
|  Cloudflare, Inc. — Class A<sup>(a)</sup> | 3964 | 781503 |
|  Guidewire Software, Inc.<sup>(a)</sup> | 1510 | 303525 |
|  HubSpot, Inc.<sup>(a)</sup> | 858 | 344315 |
|  Klaviyo, Inc. — Class A<sup>(a)</sup> | 11784 | 382626 |
|  Samsara, Inc. — Class A<sup>(a)</sup> | 11199 | 397005 |
|  Unity Software, Inc.<sup>(a)</sup> | 8089 | 357291 |
|  |  | 2566265 |
|  **Technology Hardware, Storage & Peripherals — 1.7%** | **Technology Hardware, Storage & Peripherals — 1.7%** | **Technology Hardware, Storage & Peripherals — 1.7%** |
|  Western Digital Corp. | 1972 | 339716 |
|  Total Information Technology |  | 4750459 |
|  **Consumer Discretionary — 16.7%** | **Consumer Discretionary — 16.7%** | **Consumer Discretionary — 16.7%** |
|  **Hotels, Restaurants & Leisure — 5.8%** | **Hotels, Restaurants & Leisure — 5.8%** | **Hotels, Restaurants & Leisure — 5.8%** |
|  Royal Caribbean Cruises Ltd. | 3022 | 842896 |
|  Wingstop, Inc. | 1412 | 336748 |
|  |  | 1179644 |
|  **Specialty Retail — 8.6%** | **Specialty Retail — 8.6%** | **Specialty Retail — 8.6%** |
|  Carvana Co.<sup>(a)</sup> | 1607 | 678186 |
|  Ross Stores, Inc. | 2731 | 491962 |
|  Tractor Supply Co. | 11341 | 567164 |
|  |  | 1737312 |

---

---

| | | |
|:---|:---|:---|
| **Company** | **Shares** | **U.S. $ Value** |
|  **Textiles, Apparel & Luxury Goods — 2.3%** | **Textiles, Apparel & Luxury Goods — 2.3%** | **Textiles, Apparel & Luxury Goods — 2.3%** |
|  On Holding AG — Class A<sup>(a)</sup> | 10190 | $473631 |
|  Total Consumer Discretionary |  | 3390587 |
|  **Health Care — 16.1%** | **Health Care — 16.1%** | **Health Care — 16.1%** |
|  **Biotechnology — 7.9%** | **Biotechnology — 7.9%** | **Biotechnology — 7.9%** |
|  Argenx SE (ADR)<sup>(a)</sup> | 515 | 433089 |
|  Halozyme Therapeutics, Inc.<sup>(a)</sup> | 2485 | 167240 |
|  Natera, Inc.<sup>(a)</sup> | 2810 | 643743 |
|  Neurocrine Biosciences, Inc.<sup>(a)</sup> | 2491 | 353299 |
|  |  | 1597371 |
|  **Health Care Equipment & Supplies — 5.5%** | **Health Care Equipment & Supplies — 5.5%** | **Health Care Equipment & Supplies — 5.5%** |
|  IDEXX Laboratories, Inc.<sup>(a)</sup> | 888 | 600759 |
|  Insulet Corp.<sup>(a)</sup> | 1670 | 474681 |
|  Medline, Inc. Class A<sup>(a)</sup> | 804 | 33768 |
|  |  | 1109208 |
|  **Health Care Providers & Services — 1.9%** | **Health Care Providers & Services — 1.9%** | **Health Care Providers & Services — 1.9%** |
|  Guardant Health, Inc.<sup>(a)</sup> | 3750 | 383025 |
|  **Life Sciences Tools & Services — 0.8%** | **Life Sciences Tools & Services — 0.8%** | **Life Sciences Tools & Services — 0.8%** |
|  Mettler-Toledo International, Inc.<sup>(a)</sup> | 118 | 164514 |
|  Total Health Care |  | 3254118 |
|  **Communication Services — 6.9%** | **Communication Services — 6.9%** | **Communication Services — 6.9%** |
|  **Entertainment — 6.9%** | **Entertainment — 6.9%** | **Entertainment — 6.9%** |
|  ROBLOX Corp. — Class A<sup>(a)</sup> | 7065 | 572477 |
|  Spotify Technology SA<sup>(a)</sup> | 520 | 301969 |
|  TKO Group Holdings, Inc. | 2550 | 532950 |
|  Total Communication Services |  | 1407396 |
|  **Financials — 5.9%** | **Financials — 5.9%** | **Financials — 5.9%** |
|  **Capital Markets — 3.9%** | **Capital Markets — 3.9%** | **Capital Markets — 3.9%** |
|  Raymond James Financial, Inc. | 2342 | 376102 |
|  Robinhood Markets, Inc. — Class A<sup>(a)</sup> | 3574 | 404219 |
|  |  | 780321 |
|  **Financial Services — 2.0%** | **Financial Services — 2.0%** | **Financial Services — 2.0%** |
|  Affirm Holdings, Inc.<sup>(a)</sup> | 5471 | 407207 |
|  Total Financials |  | 1187528 |
|  **Consumer Staples — 1.8%** | **Consumer Staples — 1.8%** | **Consumer Staples — 1.8%** |
|  **Beverages — 1.8%** | **Beverages — 1.8%** | **Beverages — 1.8%** |
|  Celsius Holdings, Inc.<sup>(a)</sup> | 8122 | 371501 |
|  **Total Investments — 99.1%** <br>(cost $17,546,540) |  | 20108856 |
|  Other assets less liabilities – 0.9% |  | 184318 |
|  **Net Assets — 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20293174 |

---

(a) Non-income producing security.

Glossary:

*ADR* — *American Depositary Receipt*

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 3 (POOLED)** 

**PORTFOLIO SUMMARY** 

**DECEMBER 31, 2025** 

---

| | |
|:---|:---|
| **% of Total Investments\*** | **Country Diversification** |
| 94.1% | United States |
| 2.4% | Switzerland |
| 2.1% | Netherlands |
| 1.4% | Canada |
| 100.0% |  |

---

\* The Fund's country breakdown is expressed as a percentage of long-term investments and may vary over time.

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF ASSETS AND LIABILITIES** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1290 AVANTIS<sup>®</sup><br>U.S. LARGE<br>CAP GROWTH\*** | **1290 VT EQUITY<br>INCOME\*\*** | **1290 VT GAMCO<br>MERGERS &<br>ACQUISITIONS\*\*** | **1290 VT GAMCO<br>SMALL COMPANY<br>VALUE\*\*** | **1290 VT SOCIALLY<br>RESPONSIBLE\*\*** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2020 TARGET<br>DATE FUND** |
|  **Assets:** |  |  |  |  |  |  |
|  Investments in shares of the Portfolios, at fair value | $885570 | $1777314 | $132891 | $2472029 | $4505077 | $278213 |
|  Receivable for shares of the Portfolios sold |  |  | 286 |  | 44 |  |
|  Receivable for policy-related transactions | 45 | 1082 |  | 179 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 885615 | 1778396 | 133177 | 2472208 | 4505121 | 278213 |
|  **Liabilities:** |  |  |  |  |  |  |
|  Payable for shares of the Portfolios purchased | 24 | 1099 |  | 230 |  |  |
|  Payable for policy-related transactions |  |  | 286 |  | 423 | 313 |
|  Accrued expenses | 204 | 390 | 2 | 339 | 870 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 228 | 1489 | 288 | 569 | 1293 | 313 |
|  **Net Assets** | $885387 | $1776907 | $132889 | $2471639 | $4503828 | $277900 |
|  **Net Assets:** |  |  |  |  |  |  |
|  Accumulation unit values | $885269 | $1775787 | $132858 | $2468898 | $4500564 | $277853 |
|  Retained by Equitable Financial in Separate Account No. 66 | 118 | 1120 | 31 | 2741 | 3264 | 47 |
|  **Total Net Assets** | $885387 | $1776907 | $132889 | $2471639 | $4503828 | $277900 |
|  Investments in shares of the Portfolios, at cost | $618275 | $1821650 | $121018 | $2224939 | $3203036 | $257376 |

---

The accompanying notes are an integral part of these financial statements.

\* Denotes Variable Investment Options that invest in shares of a Portfolio of 1290 Funds, an affiliate of Equitable Financial.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **AMERICAN FUNDS<br>IS<sup>®</sup> 2025 TARGET<br>DATE FUND** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2030 TARGET<br>DATE FUND** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2035 TARGET<br>DATE FUND** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2040 TARGET<br>DATE FUND** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2045 TARGET<br>DATE FUND** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2050 TARGET<br>DATE FUND** |
|  **Assets:** |  |  |  |  |  |  |
|  Investments in shares of the Portfolios, at fair value | $1391523 | $3074357 | $1190252 | $1915560 | $2546342 | $1472022 |
|  Receivable for shares of the Portfolios sold |  |  | 27 |  |  |  |
|  Receivable for policy-related transactions |  | 213 |  | 1165 | 84 | 5517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 1391523 | 3074570 | 1190279 | 1916725 | 2546426 | 1477539 |
|  **Liabilities:** |  |  |  |  |  |  |
|  Payable for shares of the Portfolios purchased | 87 | 995 |  | 1606 | 345 | 5796 |
|  Payable for policy-related transactions | 965 |  | 544 |  |  |  |
|  Accrued expenses |  | 31 | 55 | 19 | 100 | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 1052 | 1026 | 599 | 1625 | 445 | 5831 |
|  **Net Assets** | $1390471 | $3073544 | $1189680 | $1915100 | $2545981 | $1471708 |
|  **Net Assets:** |  |  |  |  |  |  |
|  Accumulation unit values | $1390311 | $3073399 | $1189562 | $1914974 | $2545845 | $1471612 |
|  Retained by Equitable Financial in Separate Account No. 66 | 160 | 145 | 118 | 126 | 136 | 96 |
|  **Total Net Assets** | $1390471 | $3073544 | $1189680 | $1915100 | $2545981 | $1471708 |
|  Investments in shares of the Portfolios, at cost | $1351267 | $2819247 | $1087882 | $1685167 | $2107429 | $1287690 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **AMERICAN FUNDS<br>IS<sup>®</sup> 2055 TARGET<br>DATE FUND** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2060 TARGET<br>DATE FUND** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2065 TARGET<br>DATE FUND** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2070 TARGET<br>DATE FUND** | **EQ/AB SMALL CAP<br>GROWTH\*\*** | **EQ/AGGRESSIVE<br>ALLOCATION\*\*** |
|  **Assets:** |  |  |  |  |  |  |
|  Investments in shares of the Portfolios, at fair value | $1029257 | $16774 | $12842 | $19723 | $824203 | $2321590 |
|  Receivable for shares of the Portfolios sold |  | 4 |  | 8 |  |  |
|  Receivable for policy-related transactions | 733 |  |  |  | 1015 | 1591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 1029990 | 16778 | 12842 | 19731 | 825218 | 2323181 |
|  **Liabilities:** |  |  |  |  |  |  |
|  Payable for shares of the Portfolios purchased | 946 |  |  |  | 1015 | 1581 |
|  Payable for policy-related transactions |  | 4 |  | 7 |  |  |
|  Accrued expenses | 22 |  |  | 1 | 62 | 338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 968 | 4 |  | 8 | 1077 | 1919 |
|  **Net Assets** | $1029022 | $16774 | $12842 | $19723 | $824141 | $2321262 |
|  **Net Assets:** |  |  |  |  |  |  |
|  Accumulation unit values | $1028908 | $16772 | $12837 | $19723 | $823599 | $2319957 |
|  Retained by Equitable Financial in Separate Account No. 66 | 114 | 2 | 5 |  | 542 | 1305 |
|  **Total Net Assets** | $1029022 | $16774 | $12842 | $19723 | $824141 | $2321262 |
|  Investments in shares of the Portfolios, at cost | $896918 | $16113 | $12261 | $18069 | $818930 | $2258099 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/ALL ASSET<br>GROWTH<br>ALLOCATION\*\*** | **EQ/CAPITAL GROUP<br>RESEARCH\*\*** | **EQ/CLEARBRIDGE<br>LARGE CAP<br>GROWTH ESG\*\*** | **EQ/CONSERVATIVE<br>ALLOCATION\*\*** | **EQ/CONSERVATIVE-<br>PLUS ALLOCATION\*\*** | **EQ/CORE PLUS<br>BOND\*\*** |
|  **Assets:** |  |  |  |  |  |  |
|  Investments in shares of the Portfolios, at fair value | $429543 | $10280757 | $697034 | $1793991 | $695384 | $992153 |
|  Receivable for shares of the Portfolios sold |  |  |  |  |  | 15 |
|  Receivable for policy-related transactions | 375 | 488 | 715 | 1160 | 323 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 429918 | 10281245 | 697749 | 1795151 | 695707 | 992168 |
|  **Liabilities:** |  |  |  |  |  |  |
|  Payable for shares of the Portfolios purchased | 256 | 901 | 739 | 1391 | 454 |  |
|  Payable for policy-related transactions |  |  |  |  |  | 111 |
|  Accrued expenses |  | 1503 | 163 | 439 | 39 | 123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 256 | 2404 | 902 | 1830 | 493 | 234 |
|  **Net Assets** | $429662 | $10278841 | $696847 | $1793321 | $695214 | $991934 |
|  **Net Assets:** |  |  |  |  |  |  |
|  Accumulation unit values | $429610 | $10264278 | $696212 | $1793060 | $694906 | $991827 |
|  Retained by Equitable Financial in Separate Account No. 66 | 52 | 14563 | 635 | 261 | 308 | 107 |
|  **Total Net Assets** | $429662 | $10278841 | $696847 | $1793321 | $695214 | $991934 |
|  Investments in shares of the Portfolios, at cost | $391713 | $8191573 | $649268 | $1904761 | $720590 | $1023282 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/EQUITY 500<br>INDEX\*\*** | **EQ/GLOBAL<br>EQUITY MANAGED<br>VOLATILITY\*\*** | **EQ/INTERMEDIATE<br>GOVERNMENT<br>BOND\*\*** | **EQ/INTERNATIONAL<br>CORE MANAGED<br>VOLATILITY\*\*** | **EQ/INTERNATIONAL<br>EQUITY INDEX\*\*** | **EQ/JANUS<br>ENTERPRISE\*\*** |
|  **Assets:** |  |  |  |  |  |  |
|  Investments in shares of the Portfolios, at fair value | $31473151 | $1266872 | $3985730 | $1838842 | $8288569 | $867174 |
|  Receivable for policy-related transactions | 2723 |  |  |  | 3455 | 1559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 31475874 | 1266872 | 3985730 | 1838842 | 8292024 | 868733 |
|  **Liabilities:** |  |  |  |  |  |  |
|  Payable for shares of the Portfolios purchased | 4213 | 31 | 350 | 31 | 2084 | 1189 |
|  Payable for policy-related transactions |  | 182 | 601 | 137 |  |  |
|  Accrued expenses | 4054 | 99 | 442 | 127 | 421 | 122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 8267 | 312 | 1393 | 295 | 2505 | 1311 |
|  **Net Assets** | $31467607 | $1266560 | $3984337 | $1838547 | $8289519 | $867422 |
|  **Net Assets:** |  |  |  |  |  |  |
|  Accumulation unit values | $31434122 | $1265678 | $3984122 | $1837405 | $8285424 | $866715 |
|  Retained by Equitable Financial in Separate Account No. 66 | 33485 | 882 | 215 | 1142 | 4095 | 707 |
|  **Total Net Assets** | $31467607 | $1266560 | $3984337 | $1838547 | $8289519 | $867422 |
|  Investments in shares of the Portfolios, at cost | $20331956 | $1199169 | $4082417 | $1675401 | $6073183 | $848221 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/JPMORGAN<br>GROWTH STOCK\*\*** | **EQ/JPMORGAN<br>VALUE<br>OPPORTUNITIES\*\*** | **EQ/LARGE CAP<br>GROWTH INDEX\*\*** | **EQ/LARGE CAP<br>GROWTH MANAGED<br>VOLATILITY\*\*** | **EQ/LARGE CAP<br>VALUE MANAGED<br>VOLATILITY\*\*** | **EQ/MFS<br>INTERNATIONAL<br>GROWTH\*\*** |
|  **Assets:** |  |  |  |  |  |  |
|  Investments in shares of the Portfolios, at fair value | $1608597 | $112776 | $17009509 | $3861760 | $6369222 | $2002712 |
|  Receivable for shares of the Portfolios sold |  | 89 |  |  |  |  |
|  Receivable for policy-related transactions | 2289 |  | 3006 | 1351 |  | 1508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 1610886 | 112865 | 17012515 | 3863111 | 6369222 | 2004220 |
|  **Liabilities:** |  |  |  |  |  |  |
|  Payable for shares of the Portfolios purchased | 2386 |  | 3250 | 141 | 163 | 1507 |
|  Payable for policy-related transactions |  | 89 |  |  | 388 |  |
|  Accrued expenses | 160 |  | 2450 | 530 | 772 | 139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 2546 | 89 | 5700 | 671 | 1323 | 1646 |
|  **Net Assets** | $1608340 | $112776 | $17006815 | $3862440 | $6367899 | $2002574 |
|  **Net Assets:** |  |  |  |  |  |  |
|  Accumulation unit values | $1606169 | $112619 | $17001458 | $3847647 | $6356402 | $2002209 |
|  Retained by Equitable Financial in Separate Account No. 66 | 2171 | 157 | 5357 | 14793 | 11497 | 365 |
|  **Total Net Assets** | $1608340 | $112776 | $17006815 | $3862440 | $6367899 | $2002574 |
|  Investments in shares of the Portfolios, at cost | $1413708 | $105743 | $14313379 | $3890242 | $6537098 | $1889232 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/MID CAP<br>INDEX\*\*** | **EQ/MID CAP<br>VALUE MANAGED<br>VOLATILITY\*\*** | **EQ/MODERATE<br>ALLOCATION\*\*** | **EQ/MODERATE-**<br>**PLUS ALLOCATION\*\*** | **EQ/MONEY<br>MARKET\*\*** | **EQ/PIMCO GLOBAL<br>REAL RETURN\*\*** |
|  **Assets:** |  |  |  |  |  |  |
|  Investments in shares of the Portfolios, at fair value | $863061 | $3521544 | $29703490 | $2714084 | $13870954 | $650613 |
|  Receivable for shares of the Portfolios sold |  | 123 |  |  |  |  |
|  Receivable for policy-related transactions | 674 |  | 33585 |  | 3313 | 41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 863735 | 3521667 | 29737075 | 2714084 | 13874267 | 650654 |
|  **Liabilities:** |  |  |  |  |  |  |
|  Payable for shares of the Portfolios purchased | 679 |  | 34600 | 517 | 3194 | 41 |
|  Payable for policy-related transactions |  | 384 |  | 1487 |  |  |
|  Accrued expenses | 48 |  | 5952 | 581 | 2111 | 197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 727 | 384 | 40552 | 2585 | 5305 | 238 |
|  **Net Assets** | $863008 | $3521283 | $29696523 | $2711499 | $13868962 | $650416 |
|  **Net Assets:** |  |  |  |  |  |  |
|  Accumulation unit values | $859720 | $3516042 | $29689663 | $2709381 | $13868962 | $650252 |
|  Retained by Equitable Financial in Separate Account No. 66 | 3288 | 5241 | 6860 | 2118 |  | 164 |
|  **Total Net Assets** | $863008 | $3521283 | $29696523 | $2711499 | $13868962 | $650416 |
|  Investments in shares of the Portfolios, at cost | $822728 | $3467219 | $31146844 | $2786969 | $13874777 | $715315 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/PIMCO ULTRA<br>SHORT BOND\*\*** | **EQ/QUALITY BOND<br>PLUS\*\*** | **EQ/SMALL<br>COMPANY INDEX\*\*** | **EQUITABLE<br>CONSERVATIVE<br>GROWTH MF/ETF\*\*** | **MULTIMANAGER<br>CORE BOND\*\*** | **MULTIMANAGER<br>TECHNOLOGY\*\*** |
|  **Assets:** |  |  |  |  |  |  |
|  Investments in shares of the Portfolios, at fair value | $1230308 | $39586 | $3458614 | $206168 | $195860 | $10418965 |
|  Receivable for shares of the Portfolios sold |  | 33 |  | 1 |  |  |
|  Receivable for policy-related transactions |  |  | 1153 |  | 331 | 1289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 1230308 | 39619 | 3459767 | 206169 | 196191 | 10420254 |
|  **Liabilities:** |  |  |  |  |  |  |
|  Payable for shares of the Portfolios purchased | 11 |  | 892 |  | 141 | 823 |
|  Payable for policy-related transactions | 218 | 33 |  | 1 |  |  |
|  Accrued expenses | 129 |  | 282 | 36 |  | 1800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 358 | 33 | 1174 | 37 | 141 | 2623 |
|  **Net Assets** | $1229950 | $39586 | $3458593 | $206132 | $196050 | $10417631 |
|  **Net Assets:** |  |  |  |  |  |  |
|  Accumulation unit values | $1229760 | $39534 | $3456032 | $206106 | $195899 | $10403244 |
|  Retained by Equitable Financial in Separate Account No. 66 | 190 | 52 | 2561 | 26 | 151 | 14387 |
|  **Total Net Assets** | $1229950 | $39586 | $3458593 | $206132 | $196050 | $10417631 |
|  Investments in shares of the Portfolios, at cost | $1260574 | $39712 | $3280871 | $204814 | $191426 | $8969577 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **TARGET 2015<br>ALLOCATION\*\*** | **TARGET 2025<br>ALLOCATION\*\*** | **TARGET 2035<br>ALLOCATION\*\*** | **TARGET 2045<br>ALLOCATION\*\*** | **TARGET 2055<br>ALLOCATION\*\*** | **VANGUARD<br>VARIABLE<br>INSURANCE FUND<br>TOTAL BOND<br>MARKET INDEX<br>PORTFOLIO** |
|  **Assets:** |  |  |  |  |  |  |
|  Investments in shares of the Portfolios, at fair value | $549836 | $1165119 | $1055716 | $2338846 | $34959 | $3846399 |
|  Receivable for shares of the Portfolios sold | 18 | 21 | 40 | 79 | 8 |  |
|  Receivable for policy-related transactions | 178 |  |  |  | 75 | 1271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 550032 | 1165140 | 1055756 | 2338925 | 35042 | 3847670 |
|  **Liabilities:** |  |  |  |  |  |  |
|  Payable for shares of the Portfolios purchased |  |  |  |  |  | 1271 |
|  Payable for policy-related transactions |  | 18 | 40 | 63 |  |  |
|  Accrued expenses |  | 2 | 46 | 415 | 6 | 1033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities |  | 20 | 86 | 478 | 6 | 2304 |
|  **Net Assets** | $550032 | $1165120 | $1055670 | $2338447 | $35036 | $3845366 |
|  **Net Assets:** |  |  |  |  |  |  |
|  Accumulation unit values | $549843 | $1164130 | $1055058 | $2337518 | $35036 | $3844960 |
|  Retained by Equitable Financial in Separate Account No. 66 | 189 | 990 | 612 | 929 |  | 406 |
|  **Total Net Assets** | $550032 | $1165120 | $1055670 | $2338447 | $35036 | $3845366 |
|  Investments in shares of the Portfolios, at cost | $688655 | $1226897 | $825931 | $1663501 | $24564 | $3744782 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | |
|:---|:---|
|  | **VANGUARD<br>VARIABLE<br>INSURANCE FUND**<br>**TOTAL STOCK**<br>**MARKET INDEX<br>PORTFOLIO** |
|  **Assets:** |  |
|  Investments in shares of the Portfolios, at fair value | $15290174 |
|  Receivable for policy-related transactions | 48368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 15338542 |
|  **Liabilities:** |  |
|  Payable for shares of the Portfolios purchased | 48367 |
|  Accrued expenses | 2130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 50497 |
|  **Net Assets** | $15288045 |
|  **Net Assets:** |  |
|  Accumulation unit values | $15287153 |
|  Retained by Equitable Financial in Separate Account No. 66 | 892 |
|  **Total Net Assets** | $15288045 |
|  Investments in shares of the Portfolios, at cost | $13783093 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

The following table provides the Portfolio shares held by the Variable Investment Options of the Account:

---

| | | |
|:---|:---|:---|
|  | **Share Class\*\*** | **Portfolio Shares Held (000's)\*\*\*** |
|  1290 AVANTIS<sup>®</sup> U.S. LARGE CAP GROWTH | CLASS I | 41 |
|  1290 VT EQUITY INCOME | CLASS IB | 363 |
|  1290 VT GAMCO MERGERS & ACQUISITIONS | CLASS IB | 10 |
|  1290 VT GAMCO SMALL COMPANY VALUE | CLASS IB | 32 |
|  1290 VT SOCIALLY RESPONSIBLE | CLASS IB | 183 |
|  AMERICAN FUNDS IS<sup>®</sup> 2020 TARGET DATE FUND | CLASS I | 22 |
|  AMERICAN FUNDS IS<sup>®</sup> 2025 TARGET DATE FUND | CLASS I | 104 |
|  AMERICAN FUNDS IS<sup>®</sup> 2030 TARGET DATE FUND | CLASS I | 221 |
|  AMERICAN FUNDS IS<sup>®</sup> 2035 TARGET DATE FUND | CLASS I | 86 |
|  AMERICAN FUNDS IS<sup>®</sup> 2040 TARGET DATE FUND | CLASS I | 131 |
|  AMERICAN FUNDS IS<sup>®</sup> 2045 TARGET DATE FUND | CLASS I | 173 |
|  AMERICAN FUNDS IS<sup>®</sup> 2050 TARGET DATE FUND | CLASS I | 100 |
|  AMERICAN FUNDS IS<sup>®</sup> 2055 TARGET DATE FUND | CLASS I | 68 |
|  AMERICAN FUNDS IS<sup>®</sup> 2060 TARGET DATE FUND | CLASS I | 1 |
|  AMERICAN FUNDS IS<sup>®</sup> 2065 TARGET DATE FUND | CLASS I | 1 |
|  AMERICAN FUNDS IS<sup>®</sup> 2070 TARGET DATE FUND | CLASS I | 2 |
|  EQ/AB SMALL CAP GROWTH | CLASS IB | 56 |
|  EQ/AGGRESSIVE ALLOCATION | CLASS IB | 219 |
|  EQ/ALL ASSET GROWTH ALLOCATION | CLASS IB | 21 |
|  EQ/CAPITAL GROUP RESEARCH | CLASS IB | 276 |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG | CLASS IB | 42 |
|  EQ/CONSERVATIVE ALLOCATION | CLASS IB | 216 |
|  EQ/CONSERVATIVE-PLUS ALLOCATION | CLASS IB | 84 |
|  EQ/CORE PLUS BOND | CLASS IB | 293 |
|  EQ/EQUITY 500 INDEX | CLASS IA |  |
|  EQ/EQUITY 500 INDEX | CLASS IB | 329 |
|  EQ/GLOBAL EQUITY MANAGED VOLATILITY | CLASS IB | 74 |
|  EQ/INTERMEDIATE GOVERNMENT BOND | CLASS IB | 413 |
|  EQ/INTERNATIONAL CORE MANAGED VOLATILITY | CLASS IB | 150 |
|  EQ/INTERNATIONAL EQUITY INDEX | CLASS IA | 597 |
|  EQ/JANUS ENTERPRISE | CLASS IB | 42 |
|  EQ/JPMORGAN GROWTH STOCK | CLASS IB | 23 |
|  EQ/JPMORGAN VALUE OPPORTUNITIES | CLASS IB | 6 |
|  EQ/LARGE CAP GROWTH INDEX | CLASS IB | 596 |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY | CLASS IB | 119 |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | CLASS IB | 350 |
|  EQ/MFS INTERNATIONAL GROWTH | CLASS IB | 245 |
|  EQ/MID CAP INDEX | CLASS IB | 54 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | |
|:---|:---|:---|
|  | **Share Class\*\*** | **Portfolio Shares Held (000's)\*\*\*** |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | CLASS IB | 230 |
|  EQ/MODERATE ALLOCATION | CLASS IB | 2451 |
|  EQ/MODERATE-PLUS ALLOCATION | CLASS IB | 281 |
|  EQ/MONEY MARKET | CLASS IA | 1 |
|  EQ/MONEY MARKET | CLASS IB | 13870 |
|  EQ/PIMCO GLOBAL REAL RETURN | CLASS K | 84 |
|  EQ/PIMCO ULTRA SHORT BOND | CLASS IB | 125 |
|  EQ/QUALITY BOND PLUS | CLASS IA | 5 |
|  EQ/SMALL COMPANY INDEX | CLASS IB | 279 |
|  EQUITABLE CONSERVATIVE GROWTH MF/ETF | CLASS IB | 17 |
|  MULTIMANAGER CORE BOND | CLASS IB | 22 |
|  MULTIMANAGER TECHNOLOGY | CLASS IB | 254 |
|  TARGET 2015 ALLOCATION | CLASS IB | 86 |
|  TARGET 2025 ALLOCATION | CLASS IB | 111 |
|  TARGET 2035 ALLOCATION | CLASS IB | 67 |
|  TARGET 2045 ALLOCATION | CLASS IB | 136 |
|  TARGET 2055 ALLOCATION | CLASS IB | 2 |
|  VANGUARD VARIABLE INSURANCE FUND TOTAL BOND MARKET INDEX PORTFOLIO | COMMON SHARES | 356 |
|  VANGUARD VARIABLE INSURANCE FUND TOTAL STOCK MARKET INDEX PORTFOLIO | COMMON SHARES | 251 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Share class reflects the share class of the Portfolio in which the units of the Variable Investment Option are invested, as further described in Note 6 of these financial statements.

\*\*\* Variable Investment Options where Shares Outstanding are less than 500 are denoted by a —.

The following table provides units outstanding and unit values associated with the Variable Investment Options of the Account and is further categorized by share class and contract charges:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units**<br>**Outstanding<br>(000's)\*\*\*** |
|  1290 AVANTIS<sup>®</sup> U.S. LARGE CAP GROWTH | 0.01% | CLASS I | $22.60 | 39 |
|  1290 VT EQUITY INCOME | 0.01% | CLASS IB | $32.70 | 54 |
|  1290 VT GAMCO MERGERS & ACQUISITIONS | 0.01% | CLASS IB | $19.78 | 7 |
|  1290 VT GAMCO SMALL COMPANY VALUE | 0.01% | CLASS IB | $64.62 | 38 |
|  1290 VT SOCIALLY RESPONSIBLE | 0.01% | CLASS IB | $49.07 | 92 |
|  AMERICAN FUNDS IS<sup>®</sup> 2020 TARGET DATE FUND | 0.01% | CLASS I | $11.28 | 25 |
|  AMERICAN FUNDS IS<sup>®</sup> 2025 TARGET DATE FUND | 0.01% | CLASS I | $11.32 | 123 |
|  AMERICAN FUNDS IS<sup>®</sup> 2030 TARGET DATE FUND | 0.01% | CLASS I | $11.49 | 267 |
|  AMERICAN FUNDS IS<sup>®</sup> 2035 TARGET DATE FUND | 0.01% | CLASS I | $11.66 | 102 |
|  AMERICAN FUNDS IS<sup>®</sup> 2040 TARGET DATE FUND | 0.01% | CLASS I | $11.97 | 160 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF ASSETS AND LIABILITIES (Continued)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units**<br>**Outstanding<br>(000's)\*\*\*** |
|  AMERICAN FUNDS IS<sup>®</sup> 2045 TARGET DATE FUND | 0.01% | CLASS I | $12.09 | 211 |
|  AMERICAN FUNDS IS<sup>®</sup> 2050 TARGET DATE FUND | 0.01% | CLASS I | $12.11 | 122 |
|  AMERICAN FUNDS IS<sup>®</sup> 2055 TARGET DATE FUND | 0.01% | CLASS I | $12.14 | 85 |
|  AMERICAN FUNDS IS<sup>®</sup> 2060 TARGET DATE FUND | 0.01% | CLASS I | $11.98 | 1 |
|  AMERICAN FUNDS IS<sup>®</sup> 2065 TARGET DATE FUND | 0.01% | CLASS I | $11.98 | 1 |
|  AMERICAN FUNDS IS<sup>®</sup> 2070 TARGET DATE FUND | 0.01% | CLASS I | $11.90 | 2 |
|  EQ/AB SMALL CAP GROWTH | 0.01% | CLASS IB | $36.42 | 21 |
|  EQ/AB SMALL CAP GROWTH | 0.05% | CLASS IB | $930.82 |  |
|  EQ/AGGRESSIVE ALLOCATION | 0.01% | CLASS IB | $29.40 | 79 |
|  EQ/ALL ASSET GROWTH ALLOCATION | 0.01% | CLASS IB | $24.91 | 17 |
|  EQ/CAPITAL GROUP RESEARCH | 0.01% | CLASS IB | $120.01 | 86 |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG | 0.00% | CLASS IB | $755.98 |  |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG | 0.01% | CLASS IB | $51.54 | 13 |
|  EQ/CONSERVATIVE ALLOCATION | 0.01% | CLASS IB | $16.43 | 109 |
|  EQ/CONSERVATIVE-PLUS ALLOCATION | 0.01% | CLASS IB | $19.74 | 35 |
|  EQ/CORE PLUS BOND | 0.01% | CLASS IB | $12.47 | 80 |
|  EQ/EQUITY 500 INDEX | 0.05% | CLASS IA | $2286.84 |  |
|  EQ/EQUITY 500 INDEX | 0.01% | CLASS IB | $57.04 | 550 |
|  EQ/GLOBAL EQUITY MANAGED VOLATILITY | 0.00% | CLASS IB | $1262.47 |  |
|  EQ/GLOBAL EQUITY MANAGED VOLATILITY | 0.01% | CLASS IB | $35.40 | 35 |
|  EQ/INTERMEDIATE GOVERNMENT BOND | 0.01% | CLASS IB | $13.74 | 290 |
|  EQ/INTERNATIONAL CORE MANAGED VOLATILITY | 0.01% | CLASS IB | $25.95 | 71 |
|  EQ/INTERNATIONAL EQUITY INDEX | 0.01% | CLASS IA | $42.40 | 190 |
|  EQ/INTERNATIONAL EQUITY INDEX | 0.05% | CLASS IA | $375.78 | 1 |
|  EQ/JANUS ENTERPRISE | 0.01% | CLASS IB | $35.99 | 24 |
|  EQ/JPMORGAN GROWTH STOCK | 0.01% | CLASS IB | $60.03 | 27 |
|  EQ/JPMORGAN VALUE OPPORTUNITIES | 0.00% | CLASS IB | $734.00 |  |
|  EQ/LARGE CAP GROWTH INDEX | 0.01% | CLASS IB | $74.33 | 229 |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY | 0.00% | CLASS IB | $984.79 |  |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY | 0.01% | CLASS IB | $40.99 | 89 |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | 0.00% | CLASS IB | $461.61 |  |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | 0.01% | CLASS IB | $42.77 | 145 |
|  EQ/MFS INTERNATIONAL GROWTH | 0.01% | CLASS IB | $28.09 | 71 |
|  EQ/MID CAP INDEX | 0.00% | CLASS IB | $546.97 |  |
|  EQ/MID CAP INDEX | 0.01% | CLASS IB | $37.25 | 22 |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | 0.00% | CLASS IB | $652.48 |  |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | 0.01% | CLASS IB | $51.31 | 66 |
|  EQ/MODERATE ALLOCATION | 0.01% | CLASS IB | $20.97 | 1416 |
|  EQ/MODERATE-PLUS ALLOCATION | 0.01% | CLASS IB | $25.14 | 108 |
|  EQ/MONEY MARKET | 0.05% | CLASS IA | $206.48 |  |
|  EQ/MONEY MARKET | 0.01% | CLASS IB | $11.84 | 1172 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF ASSETS AND LIABILITIES (Concluded)** 

**DECEMBER 31, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Contract<br>Charges\*** | **Share Class\*\*** | **Unit Value** | **Units**<br>**Outstanding<br>(000's)\*\*\*** |
|  EQ/PIMCO GLOBAL REAL RETURN | 0.01% | CLASS K | $11.54 | 56 |
|  EQ/PIMCO ULTRA SHORT BOND | 0.01% | CLASS IB | $14.77 | 83 |
|  EQ/QUALITY BOND PLUS | 0.05% | CLASS IA | $280.37 |  |
|  EQ/SMALL COMPANY INDEX | 0.01% | CLASS IB | $58.68 | 59 |
|  EQUITABLE CONSERVATIVE GROWTH MF/ETF | 0.01% | CLASS IB | $21.26 | 10 |
|  MULTIMANAGER CORE BOND | 0.01% | CLASS IB | $12.03 | 16 |
|  MULTIMANAGER TECHNOLOGY | 0.01% | CLASS IB | $150.26 | 69 |
|  TARGET 2015 ALLOCATION | 0.01% | CLASS IB | $18.91 | 29 |
|  TARGET 2025 ALLOCATION | 0.01% | CLASS IB | $24.12 | 48 |
|  TARGET 2035 ALLOCATION | 0.01% | CLASS IB | $28.11 | 38 |
|  TARGET 2045 ALLOCATION | 0.01% | CLASS IB | $30.34 | 77 |
|  TARGET 2055 ALLOCATION | 0.01% | CLASS IB | $25.69 | 1 |
|  VANGUARD VARIABLE INSURANCE FUND TOTAL BOND MARKET INDEX PORTFOLIO | 0.01% | COMMON SHARES | $11.63 | 330 |
|  VANGUARD VARIABLE INSURANCE FUND TOTAL STOCK MARKET INDEX PORTFOLIO | 0.01% | COMMON SHARES | $27.66 | 553 |

---

The accompanying notes are an integral part of these financial statements.

\* Contract charges reflect the annual program expense, financial accounting and other expenses related to the Variable Investment Options.

\*\* Share class reflects the share class of the Portfolio in which the units of the Variable Investment Option are invested, as further described in Note 6 of these financial statements.

\*\*\* Variable Investment Options where Units Outstanding are less than 500 are denoted by a —.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF OPERATIONS** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1290 AVANTIS<sup>®</sup><br>U.S. LARGE<br>CAP GROWTH\*** | **1290 VT EQUITY<br>INCOME\*\*** | **1290 VT GAMCO<br>MERGERS &<br>ACQUISITIONS\*\*** | **1290 VT GAMCO<br>SMALL<br>COMPANY<br>VALUE\*\*** | **1290 VT<br>SOCIALLY<br>RESPONSIBLE\*\*** | **AMERICAN<br>FUNDS IS<sup>®</sup> 2020<br>TARGET DATE<br>FUND** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $354 | $37176 | $3690 | $14941 | $15502 | $5783 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges and other expenses | 118 | 257 | 17 | 377 | 572 | 48 |
|  **Net Investment Income (Loss)** | 236 | 36919 | 3673 | 14564 | 14930 | 5735 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 90797 | (18564) | 4563 | 229532 | 138612 | 10783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 14210 | 140733 | 3937 | 153893 | 321333 | 4963 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 105007 | 122169 | 8500 | 383425 | 459945 | 15746 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 25110 | 56683 | 6898 | (63601) | 193442 | 20837 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 130117 | 178852 | 15398 | 319824 | 653387 | 36583 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $130353 | $215771 | $19071 | $334388 | $668317 | $42318 |

---

The accompanying notes are an integral part of these financial statements.

\* Denotes Variable Investment Options that invest in shares of a Portfolio of 1290 Funds, an affiliate of Equitable Financial.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **AMERICAN FUNDS**<br>**IS<sup>®</sup> 2025 TARGET**<br>**DATE FUND** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2030 TARGET<br>DATE FUND** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2035 TARGET<br>DATE FUND** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2040 TARGET<br>DATE FUND** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2045 TARGET<br>DATE FUND** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2050 TARGET<br>DATE FUND** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $18047 | $18403 | $15409 | $5052 | $15093 | $8720 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges and other expenses | 141 | 317 | 297 | 210 | 269 | 179 |
|  **Net Investment Income (Loss)** | 17906 | 18086 | 15112 | 4842 | 14824 | 8541 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 54152 | 14800 | 200056 | 7218 | 11351 | 33250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 3905 | 8433 | 29356 | 3666 | 511 | 437 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 58057 | 23233 | 229412 | 10884 | 11862 | 33687 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 41673 | 255110 | 102393 | 230393 | 438913 | 184332 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 99730 | 278343 | 331805 | 241277 | 450775 | 218019 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $117636 | $296429 | $346917 | $246119 | $465599 | $226560 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **AMERICAN FUNDS<br>IS<sup>®</sup> 2055 TARGET<br>DATE FUND** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2060 TARGET<br>DATE FUND** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2065 TARGET<br>DATE FUND** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2070 TARGET<br>DATE FUND** | **EQ/AB SMALL CAP**<br>**GROWTH\*\*** | **EQ/AGGRESSIVE**<br>**ALLOCATION\*\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $6065 | $23 | $94 | $39 | $1171 | $31435 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges and other expenses | 141 |  |  | 1 | 127 | 301 |
|  **Net Investment Income (Loss)** | 5924 | 23 | 94 | 38 | 1044 | 31134 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 33182 | 761 | 224 | 58 | (47520) | (141099) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 1360 | 216 | 140 | 333 | 77907 | 200466 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 34542 | 977 | 364 | 391 | 30387 | 59367 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 133052 | 681 | 581 | 1654 | 32646 | 179323 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 167594 | 1658 | 945 | 2045 | 63033 | 238690 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $173518 | $1681 | $1039 | $2083 | $64077 | $269824 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/ALL ASSET<br>GROWTH<br>ALLOCATION\*\*** | **EQ/CAPITAL GROUP<br>RESEARCH\*\*** | **EQ/CLEARBRIDGE**<br>**LARGE CAP GROWTH**<br>**ESG\*\*** | **EQ/CONSERVATIVE<br>ALLOCATION\*\*** | **EQ/CONSERVATIVE-<br>PLUS ALLOCATION\*\*** | **EQ/CORE PLUS**<br>**BOND\*\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $8865 | $42882 | $— | $54002 | $17196 | $50095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges and other expenses | 54 | 1346 | 96 | 306 | 108 | 127 |
|  **Net Investment Income (Loss)** | 8811 | 41536 | (96) | 53696 | 17088 | 49968 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | (12370) | 323026 | 54889 | (93272) | (28391) | (23848) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 21256 | 806535 | 73557 | 52761 | 40042 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 8886 | 1129561 | 128446 | (40511) | 11651 | (23848) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 46303 | 599816 | (90932) | 147149 | 38308 | 46977 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 55189 | 1729377 | 37514 | 106638 | 49959 | 23129 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $64000 | $1770913 | $37418 | $160334 | $67047 | $73097 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/EQUITY 500<br>INDEX\*\*** | **EQ/GLOBAL<br>EQUITY MANAGED<br>VOLATILITY\*\*** | **EQ/INTERMEDIATE<br>GOVERNMENT<br>BOND\*\*** | **EQ/INTERNATIONAL<br>CORE MANAGED<br>VOLATILITY\*\*** | **EQ/INTERNATIONAL<br>EQUITY INDEX\*\*** | **EQ/JANUS<br>ENTERPRISE\*\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $219987 | $9880 | $120851 | $23190 | $274322 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges and other expenses | 4293 | 161 | 535 | 231 | 1187 | 124 |
|  **Net Investment Income (Loss)** | 215694 | 9719 | 120316 | 22959 | 273135 | (124) |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 2543675 | (28429) | (23530) | 14512 | 336750 | 10156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the<br>Portfolios | 833824 | 124725 |  | 128764 |  | 76742 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 3377499 | 96296 | (23530) | 143276 | 336750 | 86898 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation<br>(depreciation) of investments | 1418061 | 105863 | 109992 | 219433 | 1545027 | (28029) |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 4795560 | 202159 | 86462 | 362709 | 1881777 | 58869 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $5011254 | $211878 | $206778 | $385668 | $2154912 | $58745 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/JPMORGAN<br>GROWTH STOCK\*\*** | **EQ/JPMORGAN<br>VALUE<br>OPPORTUNITIES\*\*** | **EQ/LARGE CAP<br>GROWTH INDEX\*\*** | **EQ/LARGE CAP<br>GROWTH MANAGED<br>VOLATILITY\*\*** | **EQ/LARGE CAP<br>VALUE MANAGED<br>VOLATILITY\*\*** | **EQ/MFS<br>INTERNATIONAL<br>GROWTH\*\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $— | $1125 | $— | $3696 | $83536 | $18202 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges and other expenses | 222 |  | 2194 | 553 | 856 | 232 |
|  **Net Investment Income (Loss)** | (222) | 1125 | (2194) | 3143 | 82680 | 17970 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 31679 | 97 | 276673 | (76914) | 71434 | (6965) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 250846 | 9023 | 1361063 | 559098 | 512933 | 164656 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 282525 | 9120 | 1637736 | 482184 | 584367 | 157691 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (64250) | 4781 | 996484 | (43303) | (28980) | 124194 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 218275 | 13901 | 2634220 | 438881 | 555387 | 281885 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $218053 | $15026 | $2632026 | $442024 | $638067 | $299855 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/MID CAP INDEX\*\*** | **EQ/MID CAP<br>VALUE MANAGED<br>VOLATILITY\*\*** | **EQ/MODERATE<br>ALLOCATION\*\*** | **EQ/MODERATE-PLUS<br>ALLOCATION\*\*** | **EQ/MONEY<br>MARKET\*\*** | **EQ/PIMCO GLOBAL<br>REAL RETURN\*\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $7069 | $40870 | $692966 | $49806 | $562619 | $8845 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges and other expenses | 128 | 489 | 4130 | 358 | 2177 | 87 |
|  **Net Investment Income (Loss)** | 6941 | 40381 | 688836 | 49448 | 560442 | 8758 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | (3272) | 34303 | (613559) | (63566) | (1157) | (14637) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 53909 | 244678 | 1727923 | 197884 | 84 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 50637 | 278981 | 1114364 | 134318 | (1073) | (14637) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 15814 | (146796) | 1108748 | 103034 | (802) | 40396 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 66451 | 132185 | 2223112 | 237352 | (1875) | 25759 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $73392 | $172566 | $2911948 | $286800 | $558567 | $34517 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/PIMCO ULTRA**<br>**SHORT BOND\*\*** | **EQ/QUALITY BOND<br>PLUS\*\*** | **EQ/SMALL COMPANY<br>INDEX\*\*** | **EQUITABLE**<br>**CONSERVATIVE<br>GROWTH MF/ETF\*\*** | **MULTIMANAGER<br>CORE BOND\*\*** | **MULTIMANAGER<br>TECHNOLOGY\*\*** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $50078 | $1360 | $27908 | $7338 | $7827 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges and other expenses | 169 | 18 | 495 | 23 | 31 | 1310 |
|  **Net Investment Income (Loss)** | 49909 | 1342 | 27413 | 7315 | 7796 | (1310) |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 3833 | (44) | 141418 | (938) | (855) | 10159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios |  |  | 115162 | 8722 |  | 1124451 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 3833 | (44) | 256580 | 7784 | (855) | 1134610 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (451) | 977 | 159599 | 3895 | 7690 | 1077023 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 3382 | 933 | 416179 | 11679 | 6835 | 2211633 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $53291 | $2275 | $443592 | $18994 | $14631 | $2210323 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF OPERATIONS (Continued)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **TARGET 2015<br>ALLOCATION\*\*** | **TARGET 2025<br>ALLOCATION\*\*** | **TARGET 2035<br>ALLOCATION\*\*** | **TARGET 2045<br>ALLOCATION\*\*** | **TARGET 2055<br>ALLOCATION\*\*** | **VANGUARD<br>VARIABLE<br>INSURANCE FUND<br>TOTAL BOND<br>MARKET INDEX<br>PORTFOLIO** |
|  **Income and Expenses:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $20457 | $31287 | $21622 | $40616 | $515 | $112662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges and other expenses | 75 | 185 | 136 | 307 | 5 | 445 |
|  **Net Investment Income (Loss)** | 20382 | 31102 | 21486 | 40309 | 510 | 112217 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | (12435) | 15554 | 10644 | 49755 | 3209 | (63453) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 28429 | 87235 | 28735 | 62703 | 957 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 15994 | 102789 | 39379 | 112458 | 4166 | (63453) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 12826 | 33397 | 83302 | 194876 | 1425 | 155493 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 28820 | 136186 | 122681 | 307334 | 5591 | 92040 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $49202 | $167288 | $144167 | $347643 | $6101 | $204257 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF OPERATIONS (Concluded)** 

**FOR THE YEAR ENDED DECEMBER 31, 2025** 

---

| | |
|:---|:---|
|  | **VANGUARD<br>VARIABLE<br>INSURANCE FUND<br>TOTAL STOCK<br>MARKET INDEX<br>PORTFOLIO** |
|  **Income and Expenses:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment Income: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends from the Portfolios | $99106 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-based charges and other expenses | 1255 |
|  **Net Investment Income (Loss)** | 97851 |
|  **Net Realized and Unrealized Gain (Loss) on Investments:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | 705952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distribution from the Portfolios | 462652 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1168604 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 157659 |
|  **Net Realized and Unrealized Gain (Loss) on Investments** | 1326263 |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $1424114 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1290 AVANTIS<sup>®</sup> U.S.<br>LARGE CAP GROWTH\*** | **1290 AVANTIS<sup>®</sup> U.S.<br>LARGE CAP GROWTH\*** | **1290 VT EQUITY<br>INCOME\*\*** | **1290 VT EQUITY<br>INCOME\*\*** | **1290 VT GAMCO MERGERS &<br>ACQUISITIONS\*\*** | **1290 VT GAMCO MERGERS &<br>ACQUISITIONS\*\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $236 | $600 | $36919 | $38611 | $3673 | $2910 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 105007 | 80786 | 122169 | 137002 | 8500 | 8557 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 25110 | 175734 | 56683 | (11593) | 6898 | 1890 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 130353 | 257120 | 215771 | 164020 | 19071 | 13357 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 86157 | 86625 | 136820 | 144779 | 8917 | 24274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 48058 | (6780) | (457482) | 35721 | (12956) | 284 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (268614) | (402031) | (21143) | (239482) | (47318) | (15611) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (5658) | (6536) | (10431) | (10388) | (807) | (977) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (140057) | (328722) | (352236) | (69370) | (52164) | 7970 |
|  **Net Increase (Decrease) in Net Assets** | (9704) | (71602) | (136465) | 94650 | (33093) | 21327 |
|  **Net Assets — Beginning of Year** | 895091 | 966693 | 1913372 | 1818722 | 165982 | 144655 |
|  **Net Assets — End of Year** | $885387 | $895091 | $1776907 | $1913372 | $132889 | $165982 |

---

The accompanying notes are an integral part of these financial statements.

\* Denotes Variable Investment Options that invest in shares of a Portfolio of 1290 Funds, an affiliate of Equitable Financial.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1290 VT GAMCO SMALL**<br>**COMPANY VALUE\*\*** | **1290 VT GAMCO SMALL**<br>**COMPANY VALUE\*\*** | **1290 VT SOCIALLY RESPONSIBLE\*\*** | **1290 VT SOCIALLY RESPONSIBLE\*\*** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2020 TARGET<br>DATE FUND<sup>(a)</sup>** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $14564 | $15875 | $14930 | $16516 | $5735 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 383425 | 368265 | 459945 | 709814 | 15746 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (63601) | (46109) | 193442 | 132189 | 20837 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 334388 | 338031 | 668317 | 858519 | 42318 |
|  **From Contractowners Transactions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 128917 | 143642 | 142809 | 153453 | 26977 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 3378 | (68714) | 4829 | (974646) | 244160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (779500) | (810572) | (249599) | (90094) | (30615) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (15078) | (17013) | (21244) | (22457) | (4940) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (662283) | (752657) | (123205) | (933744) | 235582 |
|  **Net Increase (Decrease) in Net Assets** | (327895) | (414626) | 545112 | (75225) | 277900 |
|  **Net Assets — Beginning of Year or Period** | 2799534 | 3214160 | 3958716 | 4033941 |  |
|  **Net Assets — End of Year or Period** | $2471639 | $2799534 | $4503828 | $3958716 | $277900 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

(a) Units were made available on October 18, 2024. However, there were no outstanding units as of December 31, 2024.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **AMERICAN FUNDS IS<sup>®</sup> 2025 TARGET<br>DATE FUND<sup>(b)</sup>** | **AMERICAN FUNDS IS<sup>®</sup> 2025 TARGET<br>DATE FUND<sup>(b)</sup>** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2030 TARGET<br>DATE FUND<sup>(a)</sup>** | **AMERICAN FUNDS IS<sup>®</sup> 2035 TARGET<br>DATE FUND<sup>(b)</sup>** | **AMERICAN FUNDS IS<sup>®</sup> 2035 TARGET<br>DATE FUND<sup>(b)</sup>** |
|  | **2025** | **2024** | **2025** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $17906 | $651 | $18086 | $15112 | $12 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 58057 |  | 23233 | 229412 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 41673 | (1417) | 255110 | 102393 | (23) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 117636 | (766) | 296429 | 346917 | (10) |
|  **From Contractowners Transactions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 63223 |  | 202379 | 273042 | 988 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 1478770 | 52179 | 2858201 | 1751144 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (314235) |  | (268418) | (1169831) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (6334) | (2) | (15047) | (12569) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 1221424 | 52177 | 2777115 | 841786 | 987 |
|  **Net Increase (Decrease) in Net Assets** | 1339060 | 51411 | 3073544 | 1188703 | 977 |
|  **Net Assets — Beginning of Year or Period** | 51411 |  |  | 977 |  |
|  **Net Assets — End of Year or Period** | $1390471 | $51411 | $3073544 | $1189680 | $977 |

---

The accompanying notes are an integral part of these financial statements.

(a) Units were made available on October 18, 2024. However, there were no outstanding units as of December 31, 2024.

(b) Units were made available on October 18, 2024.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **AMERICAN FUNDS<br>IS<sup>®</sup> 2040 TARGET<br>DATE FUND<sup>(a)</sup>** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2045 TARGET<br>DATE FUND<sup>(a)</sup>** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2050 TARGET<br>DATE FUND<sup>(a)</sup>** | **AMERICAN FUNDS IS<sup>®</sup> 2055 TARGET**<br>**DATE FUND<sup>(b)</sup>** | **AMERICAN FUNDS IS<sup>®</sup> 2055 TARGET**<br>**DATE FUND<sup>(b)</sup>** |
|  | **2025** | **2025** | **2025** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $4842 | $14824 | $8541 | $5924 | $173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 10884 | 11862 | 33687 | 34542 | 86 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 230393 | 438913 | 184332 | 133052 | (713) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 246119 | 465599 | 226560 | 173518 | (454) |
|  **From Contractowners Transactions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 265612 | 184752 | 469456 | 343705 | 700 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 1534688 | 2101237 | 1223792 | 1118728 | 18284 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (120758) | (194694) | (440687) | (618218) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (10561) | (10913) | (7413) | (7226) | (15) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 1668981 | 2080382 | 1245148 | 836989 | 18969 |
|  **Net Increase (Decrease) in Net Assets** | 1915100 | 2545981 | 1471708 | 1010507 | 18515 |
|  **Net Assets — Beginning of Year or Period** |  |  |  | 18515 |  |
|  **Net Assets — End of Year or Period** | $1915100 | $2545981 | $1471708 | $1029022 | $18515 |

---

The accompanying notes are an integral part of these financial statements.

(a) Units were made available on October 18, 2024. However, there were no outstanding units as of December 31, 2024.

(b) Units were made available on October 18, 2024.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **AMERICAN FUNDS**<br>**IS<sup>®</sup> 2060 TARGET DATE<br>FUND<sup>(b)</sup>** | **AMERICAN FUNDS**<br>**IS<sup>®</sup> 2060 TARGET DATE<br>FUND<sup>(b)</sup>** | **AMERICAN FUNDS**<br>**IS<sup>®</sup> 2065 TARGET<br>DATE FUND<sup>(a)</sup>** | **AMERICAN FUNDS<br>IS<sup>®</sup> 2070 TARGET<br>DATE FUND<sup>(a)</sup>** | **EQ/AB SMALL**<br>**CAP GROWTH\*\*** | **EQ/AB SMALL**<br>**CAP GROWTH\*\*** |
|  | **2025** | **2024** | **2025** | **2025** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $23 | $7 | $94 | $38 | $1044 | $2054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 977 | 4 | 364 | 391 | 30387 | 3210 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 681 | (20) | 581 | 1654 | 32646 | 92025 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 1681 | (9) | 1039 | 2083 | 64077 | 97289 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 22986 | 700 | 14612 | 10488 | 75366 | 76189 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (6624) |  |  | 7846 | (44881) | 24601 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (1891) |  | (2778) | (615) | (69056) | (151600) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (68) | (1) | (31) | (79) | (4901) | (4749) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 14403 | 699 | 11803 | 17640 | (43472) | (55559) |
|  **Net Increase (Decrease) in Net Assets** | 16084 | 690 | 12842 | 19723 | 20605 | 41730 |
|  **Net Assets — Beginning of Year or Period** | 690 |  |  |  | 803536 | 761806 |
|  **Net Assets — End of Year or Period** | $16774 | $690 | $12842 | $19723 | $824141 | $803536 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

(a) Units were made available on October 18, 2024. However, there were no outstanding units as of December 31, 2024.

(b) Units were made available on October 18, 2024.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/AGGRESSIVE<br>ALLOCATION\*\*** | **EQ/AGGRESSIVE<br>ALLOCATION\*\*** | **EQ/ALL ASSET<br>GROWTH<br>ALLOCATION\*\*** | **EQ/ALL ASSET<br>GROWTH<br>ALLOCATION\*\*** | **EQ/CAPITAL GROUP<br>RESEARCH\*\*** | **EQ/CAPITAL GROUP<br>RESEARCH\*\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $31134 | $48358 | $8811 | $8625 | $41536 | $141706 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 59367 | 60462 | 8886 | 10078 | 1129561 | 1730619 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 179323 | 205424 | 46303 | 18277 | 599816 | 516016 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 269824 | 314244 | 64000 | 36980 | 1770913 | 2388341 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 276395 | 251885 | 47707 | 66213 | 273959 | 289772 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 52317 | 5666 | 19744 | 2009 | (39887) | (72396) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (580544) | (704945) | (84233) | (23054) | (1055879) | (2231537) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (13319) | (15287) | (2262) | (2242) | (51493) | (51151) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (265151) | (462681) | (19044) | 42926 | (873300) | (2065312) |
|  **Net Increase (Decrease) in Net Assets** | 4673 | (148437) | 44956 | 79906 | 897613 | 323029 |
|  **Net Assets — Beginning of Year** | 2316589 | 2465026 | 384706 | 304800 | 9381228 | 9058199 |
|  **Net Assets — End of Year** | $2321262 | $2316589 | $429662 | $384706 | $10278841 | $9381228 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/CLEARBRIDGE**<br>**LARGE CAP**<br>**GROWTH ESG\*\*** | **EQ/CLEARBRIDGE**<br>**LARGE CAP**<br>**GROWTH ESG\*\*** | **EQ/CONSERVATIVE<br>ALLOCATION\*\*** | **EQ/CONSERVATIVE<br>ALLOCATION\*\*** | **EQ/CONSERVATIVE-PLUS<br>ALLOCATION\*\*** | **EQ/CONSERVATIVE-PLUS<br>ALLOCATION\*\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $(96) | $(191) | $53696 | $69722 | $17088 | $20605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 128446 | 371167 | (40511) | 19062 | 11651 | 27267 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (90932) | (42915) | 147149 | 14472 | 38308 | 1895 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 37418 | 328061 | 160334 | 103256 | 67047 | 49767 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 49147 | 80113 | 154342 | 156180 | 108706 | 71974 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (1314) | (214992) | (54301) | 28063 | (77344) | 32470 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (102561) | (1159465) | (751185) | (190854) | (164561) | (66044) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (3438) | (6505) | (12524) | (13021) | (4717) | (4587) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (58166) | (1300849) | (663668) | (19632) | (137916) | 33813 |
|  **Net Increase (Decrease) in Net Assets** | (20748) | (972788) | (503334) | 83624 | (70869) | 83580 |
|  **Net Assets — Beginning of Year** | 717595 | 1690383 | 2296655 | 2213031 | 766083 | 682503 |
|  **Net Assets — End of Year** | $696847 | $717595 | $1793321 | $2296655 | $695214 | $766083 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/CORE PLUS BOND\*\*** | **EQ/CORE PLUS BOND\*\*** | **EQ/EQUITY 500 INDEX\*\*** | **EQ/EQUITY 500 INDEX\*\*** | **EQ/GLOBAL EQUITY MANAGED**<br>**VOLATILITY\*\*** | **EQ/GLOBAL EQUITY MANAGED**<br>**VOLATILITY\*\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $49968 | $46518 | $215694 | $241620 | $9719 | $14190 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | (23848) | (44165) | 3377499 | 2051231 | 96296 | 105667 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 46977 | (19090) | 1418061 | 3595366 | 105863 | 48045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 73097 | (16737) | 5011254 | 5888217 | 211878 | 167902 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 74515 | 39927 | 1068371 | 1015583 | 80969 | 84137 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 23054 | 136722 | (1956459) | 502032 | (56110) | (125758) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (54201) | (59767) | (2292174) | (2356382) | (100649) | (424859) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (4728) | (4330) | (160873) | (146256) | (6805) | (8123) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 38640 | 112552 | (3341135) | (985023) | (82595) | (474603) |
|  **Net Increase (Decrease) in Net Assets** | 111737 | 95815 | 1670119 | 4903194 | 129283 | (306701) |
|  **Net Assets — Beginning of Year** | 880197 | 784382 | 29797488 | 24894294 | 1137277 | 1443978 |
|  **Net Assets — End of Year** | $991934 | $880197 | $31467607 | $29797488 | $1266560 | $1137277 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/INTERMEDIATE<br>GOVERNMENT BOND\*\*** | **EQ/INTERMEDIATE<br>GOVERNMENT BOND\*\*** | **EQ/INTERNATIONAL<br>CORE MANAGED<br>VOLATILITY\*\*** | **EQ/INTERNATIONAL<br>CORE MANAGED<br>VOLATILITY\*\*** | **EQ/INTERNATIONAL<br>EQUITY INDEX\*\*** | **EQ/INTERNATIONAL<br>EQUITY INDEX\*\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $120316 | $92967 | $22959 | $32996 | $273135 | $205427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | (23530) | (64822) | 143276 | 132499 | 336750 | 262446 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 109992 | 54132 | 219433 | (110406) | 1545027 | (113684) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 206778 | 82277 | 385668 | 55089 | 2154912 | 354189 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 159593 | 130200 | 66843 | 59796 | 337957 | 332022 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 142202 | 166977 | 91971 | 39668 | (324980) | 97213 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (127374) | (322710) | (179822) | (293091) | (717713) | (1108344) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (20550) | (19751) | (8679) | (8514) | (43404) | (40894) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners<br>transactions | 153871 | (45284) | (29687) | (202141) | (748140) | (720003) |
|  **Net Increase (Decrease) in Net Assets** | 360649 | 36993 | 355981 | (147052) | 1406772 | (365814) |
|  **Net Assets — Beginning of Year** | 3623688 | 3586695 | 1482566 | 1629618 | 6882747 | 7248561 |
|  **Net Assets — End of Year** | $3984337 | $3623688 | $1838547 | $1482566 | $8289519 | $6882747 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/JANUS<br>ENTERPRISE\*\*** | **EQ/JANUS<br>ENTERPRISE\*\*** | **EQ/JPMORGAN<br>GROWTH STOCK\*\*** | **EQ/JPMORGAN<br>GROWTH STOCK\*\*** | **EQ/JPMORGAN VALUE<br>OPPORTUNITIES\*\*** | **EQ/JPMORGAN VALUE<br>OPPORTUNITIES\*\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $(124) | $(46) | $(222) | $(237) | $1125 | $1085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 86898 | 95161 | 282525 | (19112) | 9120 | 12448 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | (28029) | 42873 | (64250) | 435452 | 4781 | (243) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 58745 | 137988 | 218053 | 416103 | 15026 | 13290 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 67772 | 70081 | 137137 | 162006 | 2386 | 2313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (48576) | 65936 | (56319) | (121739) |  | (16826) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (168039) | (394780) | (241017) | (377720) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (4693) | (5740) | (9664) | (8981) | (985) | (919) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (153536) | (264503) | (169863) | (346434) | 1401 | (15432) |
|  **Net Increase (Decrease) in Net Assets** | (94791) | (126515) | 48190 | 69669 | 16427 | (2142) |
|  **Net Assets — Beginning of Year** | 962213 | 1088728 | 1560150 | 1490481 | 96349 | 98491 |
|  **Net Assets — End of Year** | $867422 | $962213 | $1608340 | $1560150 | $112776 | $96349 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/LARGE CAP GROWTH<br>INDEX\*\*** | **EQ/LARGE CAP GROWTH<br>INDEX\*\*** | **EQ/LARGE CAP GROWTH<br>MANAGED VOLATILITY\*\*** | **EQ/LARGE CAP GROWTH<br>MANAGED VOLATILITY\*\*** | **EQ/LARGE CAP VALUE<br>MANAGED VOLATILITY\*\*** | **EQ/LARGE CAP VALUE<br>MANAGED VOLATILITY\*\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $(2194) | $3235 | $3143 | $13106 | $82680 | $101865 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1637736 | 1977153 | 482184 | 539844 | 584367 | 936257 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 996484 | 1164199 | (43303) | 498289 | (28980) | 9484 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 2632026 | 3144587 | 442024 | 1051239 | 638067 | 1047606 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 374531 | 268110 | 109700 | 138438 | 260418 | 269805 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (256586) | 2817326 | (180141) | 2102 | (696633) | (318018) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (966274) | (264648) | (841625) | (392560) | (473941) | (2819588) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (71249) | (48949) | (23642) | (23438) | (32043) | (39957) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (919578) | 2771839 | (935708) | (275458) | (942199) | (2907758) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account No. 66 |  |  | 1157 |  |  |  |
|  **Net Increase (Decrease) in Net Assets** | 1712448 | 5916426 | (492527) | 775781 | (304132) | (1860152) |
|  **Net Assets — Beginning of Year** | 15294367 | 9377941 | 4354967 | 3579186 | 6672031 | 8532183 |
|  **Net Assets — End of Year** | $17006815 | $15294367 | $3862440 | $4354967 | $6367899 | $6672031 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/MFS INTERNATIONAL**<br>**GROWTH\*\*** | **EQ/MFS INTERNATIONAL**<br>**GROWTH\*\*** | **EQ/MID CAP INDEX\*\*** | **EQ/MID CAP INDEX\*\*** | **EQ/MID CAP VALUE**<br>**MANAGED<br>VOLATILITY\*\*** | **EQ/MID CAP VALUE**<br>**MANAGED<br>VOLATILITY\*\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $17970 | $8811 | $6941 | $8669 | $40381 | $52660 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 157691 | 37219 | 50637 | 42411 | 278981 | 523793 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 124194 | 49623 | 15814 | 63187 | (146796) | (129093) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 299855 | 95653 | 73392 | 114267 | 172566 | 447360 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 92499 | 124531 | 122416 | 86875 | 96720 | 133800 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 579226 | (21943) | (253158) | 52795 | (248051) | (158437) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (160817) | (104521) | (31909) | (160364) | (378329) | (419703) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (8717) | (6210) | (5498) | (5499) | (21083) | (23169) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 502191 | (8143) | (168149) | (26193) | (550743) | (467509) |
|  **Net Increase (Decrease) in Net Assets** | 802046 | 87510 | (94757) | 88074 | (378177) | (20149) |
|  **Net Assets — Beginning of Year** | 1200528 | 1113018 | 957765 | 869691 | 3899460 | 3919609 |
|  **Net Assets — End of Year** | $2002574 | $1200528 | $863008 | $957765 | $3521283 | $3899460 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/MODERATE<br>ALLOCATION\*\*** | **EQ/MODERATE<br>ALLOCATION\*\*** | **EQ/MODERATE-PLUS<br>ALLOCATION\*\*** | **EQ/MODERATE-PLUS<br>ALLOCATION\*\*** | **EQ/MONEY MARKET\*\*** | **EQ/MONEY MARKET\*\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $688836 | $770408 | $49448 | $61868 | $560442 | $592979 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1114364 | 416860 | 134318 | 89406 | (1073) | 3238 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 1108748 | 1026183 | 103034 | 118124 | (802) | (2295) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 2911948 | 2213451 | 286800 | 269398 | 558567 | 593922 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 3985317 | 4054117 | 313524 | 324363 | 585169 | 695487 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed<br>interest account, net | (441837) | (1817974) | (9552) | (37693) | 2319180 | 4129986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (5484745) | (3680198) | (474317) | (536946) | (3801026) | (2344948) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (192009) | (192258) | (16745) | (17562) | (80782) | (74155) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners<br>transactions | (2133274) | (1636313) | (187090) | (267838) | (977459) | 2406370 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in<br>Separate Account No. 66 |  |  |  |  | 4069 | 3878 |
|  **Net Increase (Decrease) in Net Assets** | 778674 | 577138 | 99710 | 1560 | (414823) | 3004170 |
|  **Net Assets — Beginning of Year** | 28917849 | 28340711 | 2611789 | 2610229 | 14283785 | 11279615 |
|  **Net Assets — End of Year** | $29696523 | $28917849 | $2711499 | $2611789 | $13868962 | $14283785 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/PIMCO GLOBAL<br>REAL RETURN\*\*** | **EQ/PIMCO GLOBAL<br>REAL RETURN\*\*** | **EQ/PIMCO ULTRA<br>SHORT BOND\*\*** | **EQ/PIMCO ULTRA<br>SHORT BOND\*\*** | **EQ/QUALITY<br>BOND PLUS\*\*** | **EQ/QUALITY<br>BOND PLUS\*\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $8758 | $4578 | $49909 | $52686 | $1342 | $1061 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | (14637) | (64697) | 3833 | 35628 | (44) | (41) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 40396 | 61021 | (451) | (30151) | 977 | (101) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 34517 | 902 | 53291 | 58163 | 2275 | 919 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 5994 | 7435 | 82695 | 56562 | 2386 | 2313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 17556 | (26054) | 9203 | 449245 |  | 21091 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (11141) | (8375) | (57384) | (846746) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (3044) | (3212) | (6837) | (6037) | (374) | (291) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 9365 | (30206) | 27677 | (346976) | 2012 | 23113 |
|  **Net Increase (Decrease) in Net Assets** | 43882 | (29304) | 80968 | (288813) | 4287 | 24032 |
|  **Net Assets — Beginning of Year** | 606534 | 635838 | 1148982 | 1437795 | 35299 | 11267 |
|  **Net Assets — End of Year** | $650416 | $606534 | $1229950 | $1148982 | $39586 | $35299 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **EQ/SMALL COMPANY INDEX\*\*** | **EQ/SMALL COMPANY INDEX\*\*** | **EQUITABLE CONSERVATIVE**<br>**GROWTH MF/ ETF\*\*** | **EQUITABLE CONSERVATIVE**<br>**GROWTH MF/ ETF\*\*** | **MULTIMANAGER**<br>**CORE BOND\*\*** | **MULTIMANAGER**<br>**CORE BOND\*\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $27413 | $48593 | $7315 | $4901 | $7796 | $10111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 256580 | 236090 | 7784 | 3939 | (855) | (2342) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 159599 | 130084 | 3895 | 7595 | 7690 | (3573) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 443592 | 414767 | 18994 | 16435 | 14631 | 4196 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 153330 | 132496 | 9605 | 11491 | 16384 | 14859 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (168652) | (112221) | 44330 | (71617) | (51690) | 27787 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (850344) | (324916) | (25214) | (4782) | (46373) | (104244) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (19291) | (21541) | (1155) | (1311) | (1336) | (1744) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (884957) | (326182) | 27566 | (66219) | (83015) | (63342) |
|  **Net Increase (Decrease) in Net Assets** | (441365) | 88585 | 46560 | (49784) | (68384) | (59146) |
|  **Net Assets — Beginning of Year** | 3899958 | 3811373 | 159572 | 209356 | 264434 | 323580 |
|  **Net Assets — End of Year** | $3458593 | $3899958 | $206132 | $159572 | $196050 | $264434 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **MULTIMANAGER TECHNOLOGY\*\*** | **MULTIMANAGER TECHNOLOGY\*\*** | **TARGET 2015 ALLOCATION\*\*** | **TARGET 2015 ALLOCATION\*\*** | **TARGET 2025 ALLOCATION\*\*** | **TARGET 2025 ALLOCATION\*\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $(1310) | $(1474) | $20382 | $19294 | $31102 | $33097 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1134610 | 1172324 | 15994 | 24393 | 102789 | 108265 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 1077023 | 889971 | 12826 | (18159) | 33397 | (22013) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 2210323 | 2060821 | 49202 | 25528 | 167288 | 119349 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 257349 | 257562 | (2) | (1) | (5) | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (326044) | 30479 | (4320) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (813503) | (1498121) | (32190) | (41227) | (310069) | (158056) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (48597) | (47679) | (3319) | (3495) | (7862) | (8306) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (930795) | (1257759) | (39831) | (44723) | (317936) | (166368) |
|  **Net Increase (Decrease) in Net Assets** | 1279528 | 803062 | 9371 | (19195) | (150648) | (47019) |
|  **Net Assets — Beginning of Year** | 9138103 | 8335041 | 540661 | 559856 | 1315768 | 1362787 |
|  **Net Assets — End of Year** | $10417631 | $9138103 | $550032 | $540661 | $1165120 | $1315768 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Continued)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **TARGET 2035 ALLOCATION\*\*** | **TARGET 2035 ALLOCATION\*\*** | **TARGET 2045 ALLOCATION\*\*** | **TARGET 2045 ALLOCATION\*\*** | **TARGET 2055 ALLOCATION\*\*** | **TARGET 2055 ALLOCATION\*\*** |
|  | **2025** | **2024** | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |  |  |
|  **From Operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $21486 | $19089 | $40309 | $35650 | $510 | $517 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 39379 | 30143 | 112458 | 64290 | 4166 | 1294 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 83302 | 50746 | 194876 | 148092 | 1425 | 3216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 144167 | 99978 | 347643 | 248032 | 6101 | 5027 |
|  **From Contractowners Transactions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | (9) |  | (112) | 5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | (7929) |  | (6469) | (1144) |  | (932) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (25575) | (27496) | (102683) | (68892) | (8577) | (1545) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (6262) | (6180) | (13364) | (12647) | (266) | (271) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | (39775) | (33676) | (122628) | (82678) | (8843) | (2748) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in amount retained by Equitable Financial in Separate Account No. 66 |  |  |  |  | 2 |  |
|  **Net Increase (Decrease) in Net Assets** | 104392 | 66302 | 225015 | 165354 | (2740) | 2279 |
|  **Net Assets — Beginning of Year** | 951278 | 884976 | 2113432 | 1948078 | 37776 | 35497 |
|  **Net Assets — End of Year** | $1055670 | $951278 | $2338447 | $2113432 | $35036 | $37776 |

---

The accompanying notes are an integral part of these financial statements.

\*\* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisors Trust, an affiliate of Equitable Financial.

------

**SEPARATE ACCOUNT NO. 66** 

**STATEMENTS OF CHANGES IN NET ASSETS (Concluded)** 

**FOR THE YEARS OR PERIODS ENDED DECEMBER 31, 2025 AND 2024** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **VANGUARD VARIABLE INSURANCE FUND<br>TOTAL BOND MARKET INDEX PORTFOLIO** | **VANGUARD VARIABLE INSURANCE FUND<br>TOTAL BOND MARKET INDEX PORTFOLIO** | **VANGUARD VARIABLE INSURANCE FUND<br>TOTAL STOCK MARKET INDEX PORTFOLIO** | **VANGUARD VARIABLE INSURANCE FUND<br>TOTAL STOCK MARKET INDEX PORTFOLIO** |
|  | **2025** | **2024** | **2025** | **2024** |
|  **Increase (Decrease) in Net Assets** |  |  |  |  |
|  **From Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $112217 | $74146 | $97851 | $96775 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | (63453) | (229149) | 1168604 | 477565 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) of investments | 155493 | 180298 | 157659 | 1038453 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 204257 | 25295 | 1424114 | 1612793 |
|  **From Contractowners Transactions:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments received from contractowners | 183361 | 143280 | 679957 | 678464 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between Variable Investment Options including guaranteed interest account, net | 1349953 | (175985) | 5387685 | 82677 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions for contract benefits and terminations | (357825) | (132902) | (1105970) | (447736) |
| &nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (15575) | (13392) | (49459) | (43606) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contractowners transactions | 1159914 | (178999) | 4912213 | 269799 |
|  **Net Increase (Decrease) in Net Assets** | 1364171 | (153704) | 6336327 | 1882592 |
|  **Net Assets — Beginning of Year** | 2481195 | 2634899 | 8951718 | 7069126 |
|  **Net Assets — End of Year** | $3845366 | $2481195 | $15288045 | $8951718 |

---

The accompanying notes are an integral part of these financial statements.

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements** 

**December 31, 2025** 

**1**. Organization

Separate Accounts No. 10 (Pooled), 4 (Pooled), 3 (Pooled), and 66 (collectively, the "Funds" or "Accounts") were established by Equitable Financial Life Insurance Company ("Equitable Financial"), and were established under New York State Insurance Law. Pursuant to such law, to the extent provided in the applicable contracts, the net assets in the Funds are not chargeable with liabilities arising out of any other business of Equitable Financial. The Funds are investment companies and, accordingly, follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board Accounting Standards Codification Topic 946 — Investment Companies, which is part of accounting principles generally accepted in the United States of America ("GAAP"). These financial statements reflect the financial position and results of operations for each of the Separate Accounts No. 10, 4, 3 and each of the Variable Investment Options of Separate Account No. 66. Annuity contracts issued by Equitable Financial for which the Accounts are the funding vehicles are Equi-Pen-Plus ("EPP"), Members Retirement Program ("MRP"), and Retirement Investment Account ("RIA") (collectively, "the Plans"). Institutional Contracts reflects investments in Funds by Contractowners of group annuity contracts issued by Equitable Financial. Assets of the Plans and Institutional are invested in a number of investment Funds (available Funds vary by Plan).

Separate Account No. 66 consists of 58 Variable Investment Options. The Account invests in shares of mutual funds of 1290 Trust, American Funds Insurance Series<sup>®</sup>, EQ Advisors Trust ("EQAT"), and Vanguard Variable Insurance Funds (collectively "the Trusts"). The Trusts are open-end investment management companies that sell shares of a portfolio ("Portfolio") of a mutual fund to separate accounts of insurance companies. Each Portfolio of the Trusts has separate investment objectives. As used herein, "the Trusts" refers to both the Trusts and the Portfolios. These financial statements and notes are those of the Accounts.

Separate Account No. 10, 4, and 3 present a Statement of Assets and Liabilities as of December 31, 2025, a Statement of Operations for the year ended December 31, 2025, a Statement of Changes in Net Assets for the years ended December 31, 2025 and 2024, and a Portfolio of Investments as of December 31, 2025. The Contractowners invest in Separate Accounts No. 10, 4 and 3 under the following respective names:

---

| | |
|:---|:---|
| **RIA** | **Pooled Separate Account Funds\*\*** |
|  Separate Account No. 10 | The AllianceBernstein Balanced Fund |
|  Separate Account No. 4 | The AllianceBernstein Common Stock Fund |
|  Separate Account No. 3 | The AllianceBernstein Mid Cap Growth Fund |
| **MRP** | **Pooled Separate Account Funds\*\*** |
|  Separate Account No. 10 | The AllianceBernstein Balanced Fund |
|  Separate Account No. 4 | The AllianceBernstein Growth Equity Fund |
|  Separate Account No. 3 | The AllianceBernstein Mid Cap Growth Fund |
| **EPP** | **Pooled Separate Account Funds\*\*** |
|  Separate Account No. 10 | The AllianceBernstein Balanced Fund |
|  Separate Account No. 4 | The AllianceBernstein Common Stock Fund |
| **Institutional** | **Pooled Separate Account Funds\*\*** |
|  Separate Account No. 10 | Balanced Account |
|  Separate Account No. 4 | Growth Stock Account |
|  Separate Account No. 3 | Mid Cap Growth Stock Account |

---

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**1**. Organization (Continued)

Separate Account No. 66 consists of the Variable Investment Options listed below. Separate Accounts No. 66 presents, for each of these Variable Investment Options, a Statement of Assets and Liabilities as of December 31, 2025, a Statement of Operations for the year or period ended December 31, 2025, and a Statement of Changes in Net Assets for the years or periods ended December 31, 2025 and 2024, except as otherwise indicated below:

---

| | | |
|:---|:---|:---|
| **RIA** | **EQ Advisors Trust\*** |  |
|  | 1290 VT Small Cap Value<sup>(1)</sup> | EQ/JPMorgan Growth Stock |
|  | 1290 VT Socially Responsible | EQ/JPMorgan Value Opportunities |
|  | EQ/AB Small Cap Growth | EQ/Large Cap Core Managed Volatility<sup>(1)</sup> |
|  | EQ/Capital Group Research | EQ/Large Cap Growth Index |
|  | EQ/ClearBridge Large Cap Growth ESG | EQ/Large Cap Growth Managed Volatility |
|  | EQ/Core Plus Bond | EQ/Large Cap Value Managed Volatility |
|  | EQ/Equity 500 Index | EQ/Mid Cap Index |
|  | EQ/Global Equity Managed Volatility | EQ/Mid Cap Value Managed Volatility |
|  | EQ/Intermediate Government Bond | EQ/Money Market |
|  | EQ/International Core Managed Volatility | EQ/Quality Bond PLUS |
|  | EQ/International Equity Index | EQ/Value Equity<sup>(1)</sup> |
|  | EQ/International Value Managed Volatility<sup>(1)</sup> | Multimanager Technology |
| **MRP** | **1290 Trust\*** |  |
|  | 1290 Avantis<sup>®</sup> U.S. Large Cap Growth |  |
|  | **American Funds Insurance Series<sup>®</sup>** |  |
|  | American Funds IS<sup>®</sup> 2010 Target Date Fund<sup>(1)</sup> | American Funds IS<sup>®</sup> 2045 Target Date Fund |
|  | American Funds IS<sup>®</sup> 2015 Target Date Fund<sup>(1)</sup> | American Funds IS<sup>®</sup> 2050 Target Date Fund |
|  | American Funds IS<sup>®</sup> 2020 Target Date Fund | American Funds IS<sup>®</sup> 2055 Target Date Fund |
|  | American Funds IS<sup>®</sup> 2025 Target Date Fund | American Funds IS<sup>®</sup> 2060 Target Date Fund |
|  | American Funds IS<sup>®</sup> 2030 Target Date Fund | American Funds IS<sup>®</sup> 2065 Target Date Fund |
|  | American Funds IS<sup>®</sup> 2035 Target Date Fund | American Funds IS<sup>®</sup> 2070 Target Date Fund |
|  | American Funds IS<sup>®</sup> 2040 Target Date Fund |  |
|  | **EQ Advisors Trust\*** |  |
|  | 1290 VT Equity Income | EQ/Large Cap Growth Managed Volatility |
|  | 1290 VT GAMCO Mergers & Acquisitions | EQ/Large Cap Value Managed Volatility |
|  | 1290 VT GAMCO Small Company Value | EQ/MFS International Growth |
|  | 1290 VT Socially Responsible | EQ/Mid Cap Index |
|  | EQ/AB Small Cap Growth | EQ/Mid Cap Value Managed Volatility |
|  | EQ/Aggressive Allocation | EQ/Moderate Allocation |
|  | EQ/All Asset Growth Allocation | EQ/Moderate-Plus Allocation |
|  | EQ/Capital Group Research | EQ/Money Market |
|  | EQ/ClearBridge Large Cap Growth ESG | EQ/PIMCO Global Real Return |
|  | EQ/Conservative Allocation | EQ/PIMCO Ultra Short Bond |
|  | EQ/Conservative-Plus Allocation | EQ/Small Company Index |
|  | EQ/Core Plus Bond | Equitable Conservative Growth MF/ETF |
|  | EQ/Equity 500 Index | Multimanager Core Bond |
|  | EQ/Global Equity Managed Volatility | Multimanager Technology |
|  | EQ/Intermediate Government Bond | Target 2015 Allocation |
|  | EQ/International Core Managed Volatility | Target 2025 Allocation |
|  | EQ/International Equity Index | Target 2035 Allocation |
|  | EQ/Janus Enterprise | Target 2045 Allocation |
|  | EQ/JPMorgan Growth Stock | Target 2055 Allocation |
|  | EQ/Large Cap Growth Index |  |
|  | **Vanguard Variable Insurance Funds** |  |
|  | Vanguard Variable Insurance Fund Total Bond | Vanguard Variable Insurance Fund Total Stock |
|  | Market Index Portfolio | Market Index Portfolio |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The account had no units at December 31, 2025, thus the fund is excluded from all other sections of the financial statements.

\* An affiliate of Equitable providing advisory and other services to one or more Portfolios of this Trust, as further described in Note 6 of these financial statements.

\*\* As defined in the respective Prospectus of the Plans.

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**1**. Organization (Concluded)

Under applicable insurance law, the assets and liabilities of the Accounts are clearly identified and distinguished from Equitable Financial's other assets and liabilities. Separate Account No. 66 is used to fund benefits under group annuity Contract ("Contracts") in connection with retirement savings on a tax-deferred basis. All Contracts are issued by Equitable Financial. The assets of the Accounts are the property of Equitable Financial. However, the portion of the Accounts' assets attributable to the Contracts will not be chargeable with liabilities arising out of any other business Equitable Financial may conduct.

The amount retained by Equitable Financial in Separate Accounts No. 4 and 66 arises primarily from (1) contributions from Equitable Financial and (2) that portion, determined ratably, of the Account's investment results applicable to those assets in the account in excess of the net assets attributable to contractowners. Amounts retained by Equitable Financial are not subject to charges for expense risks, assets-based administration charges are distribution charges. Amount retained by Equitable Financial in the Account may be transferred at any time by Equitable Financial to its General Account ("General Account"). Equitable Financial's General Account is subject to creditor rights.

Each of the Variable Investment Options of the Account bears indirect exposure to the market, credit, and liquidity risks of the Portfolio in which it invests. These financial statements should be read in conjunction with the financial statements and footnotes of the Portfolio of the Trusts, which are distributed by Equitable Financial to the Contractowners of the Variable Investment Options of the Account.

In the normal course of business, Equitable Financial may have agreements to indemnify another party under given circumstances. The maximum exposure under these arrangements is unknown as this would involve future claims that may be, but have not been, made against the Variable Investment Options of the Accounts. Based on experience, the risk of material loss is expected to be remote.

**2**. Significant Accounting Policies

The accompanying financial statements are prepared in conformity with GAAP. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses for the period. Actual results could differ from those estimates.

*Accounting policies specific to Separate Accounts No. 10, 4 and 3:* 

Investment securities are valued at their current market value determined on the basis of market quotations or, if market quotations are not readily available or are deemed unreliable, at "fair value" as determined in accordance with procedures established by Equitable Financial's investment officers.

In general, the market value of securities which are readily available and deemed reliable are determined as follows: Securities listed on a national securities exchange (other than securities listed on the NASDAQ Stock Market, Inc. ("NASDAQ")) or on a foreign securities exchange are valued at the last sale price at the close of the exchange or foreign securities exchange. If there has been no sale on such day, the securities are valued at the last traded price from the previous day. Securities listed on more than one exchange are valued by reference to the principal exchange on which the securities are traded; securities listed only on NASDAQ are valued in accordance with the NASDAQ Official Closing Price.

U.S. government securities and other debt instruments having 60 days or less remaining until maturity are valued at amortized cost if their original maturity was 60 days or less; or by amortizing their fair value as of the 61st day prior to maturity if their original term to maturity exceeded 60 days.

Fixed-income securities, including mortgage backed and asset backed securities, may be valued on the basis of prices provided by a pricing service or at a price obtained from one or more of the major broker/dealers. In cases where broker/dealer quotes are obtained, the investment advisor may establish procedures whereby changes in market yields or spreads are used to adjust, on a daily basis, a recently obtained quoted price on a security.

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**2**. Significant Accounting Policies (Continued)

Securities for which market quotations are not readily available (including restricted securities) or are deemed unreliable are valued at fair value. Factors considered in making this determination may include, but are not limited to, information obtained by contacting the issuer, analysts, analysis of the issuer's financial statements or other available documents. In addition, the Fund may use fair value pricing for securities primarily traded in non-U.S. markets because most foreign markets close well before the Fund values its securities at 4:00 p.m., Eastern Time. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. Other assets that do not have a readily available market price are valued at fair value as determined in good faith by Equitable Financial's investment officers.

*Investment Transactions:* 

Security transactions are recorded on the trade date. Amortized cost of debt securities where applicable is adjusted for amortization of premium or accretion of discount. Dividend income is recorded on the ex-dividend date; interest income (including amortization of premium and discount on securities using the effective yield method) is accrued daily. Realized gains and losses on the sale of investments are computed on the basis of the identified cost of the related investments sold.

The books and records of the Accounts are maintained in U.S. dollars. Foreign currency amounts are translated into U.S. dollars at the prevailing exchange rates of such currencies against the U.S. dollar. The market value of investment securities and other assets and liabilities are translated at the exchange rate as of the valuation date. Purchases and sales of investment securities, income and expenses are translated at the exchange rate prevailing on the respective dates of such transactions. Transaction gains or losses resulting from changes in the exchange rate during the reporting period or upon settlement of the foreign currency transactions are reflected under "Realized and Unrealized Gain (Loss) on Investments" in the Statement of Operations. Although the net assets of the Funds are presented at the foreign exchange rates and market values at the close of the period, the Funds do not isolate that portion of the results of operations arising as a result of changes in the foreign exchange rates from the fluctuations arising from changes in the market prices of securities held or sold during the year.

*Futures and Forward Contracts:* 

Futures and forward contracts are agreements to buy or sell a security, foreign currency, or stock index for a set price in the future. Initial margin deposits are made upon entering into futures contracts and can be either in cash or securities.

Futures and forward contracts are valued using the closing settlement price or, in the absence of such a price, the most recent quoted bid price. If there are no quotations available for the day of valuation, the last available closing settlement price is used.

Separate Accounts No. 10 and 4 may buy or sell futures contracts solely for the purpose of protecting their Account's securities against anticipated future changes in interest rates that might adversely affect the value of an Account's securities or the price of the securities that an Account intends to purchase at a later date. During the period the futures and forward contracts are open, changes in the value of the contract are recognized as unrealized gains or losses by "marking-to-market" on a daily basis to reflect the market value of the contract at the end of each trading day. Variation margin payments for futures contracts are received or made, depending upon whether unrealized gains or losses are incurred. For the year ended December 31, 2025, the average monthly notional value of futures contracts held in Separate Account No. 4 was $740,187. All futures contracts were related to equity contracts. For the year ended December 31, 2025, Separate Account No. 10 did not enter into any futures contracts. Separate Account No. 3 does not enter into futures contracts.

When the futures or forward contract is closed, the Accounts record a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transactions and the Accounts' basis in the contract. Should interest rates or the price of securities move unexpectedly, the Accounts may not achieve the anticipated benefits of the financial futures or forward contracts and may incur a loss. The use of futures and forward transactions involves the risk of imperfect correlation in movements in the prices of futures and forward contracts, interest rates and the underlying hedged assets.

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**2**. Significant Accounting Policies (Continued)

Separate Account No. 10 may enter into forward currency contracts in order to hedge its exposure to changes in foreign security holdings but did not enter into any forward currency contracts during the year ended December 31, 2025. Separate Accounts No. 3, and 4 do not enter into forward currency contracts. A forward contract is a commitment to purchase or sell a foreign currency at a future date at a negotiated forward rate. The realized gain or loss arising from the difference between the original contracts and the closing of such contracts is included in realized gains and losses from foreign currency transactions.

*Market and Credit Risk:* 

Futures and forward contracts involve elements of both market and credit risk in excess of the amounts reflected in the Statement of Assets and Liabilities. The contract amounts of these futures and forward contracts reflect the extent of the Accounts' exposure to off-balance sheet risk. Use of long futures contracts subjects the Fund to risk of loss in excess of the amounts shown on the statement of assets and liabilities, up to the notional value of the futures contracts. Use of short futures contracts subjects the Fund to unlimited risk of loss. The Accounts bear the market risk that arises from any changes in security values. The credit risk for futures contracts is limited to failure of the exchange or board of trade that acts as the counterparty of the Accounts' futures transactions. Forward contracts are entered into directly with a counterparty and not through an exchange and can be terminated only by agreement of both parties to the contract. There is no daily margin settlement and the Accounts are exposed to the risk of default by the counterparty.

*Contracts in Payout:* 

Net assets allocated to Contracts in the payout period are computed according to various mortality tables, depending on the year the benefits were purchased. The table used is the 1951 GA. The assumed investment returns vary by Contract and range from 4 percent to 6.5 percent. The Contracts are participating group annuities, and thus, the mortality risk is borne by the Contractowner, as long as the Contract has not been discontinued. Equitable Financial retains the ultimate obligation to pay the benefits if the Contract funds become insufficient and the Contractowner elects to discontinue the contract.

*Other assets and liabilities:* 

Amounts due to/from the General Account represent receivables/payables for policy related transactions predominantly related to premiums, surrenders and death benefits.

*Contract Payments and Withdrawals:* 

Payments received from Contractowners represent contributions under the Contracts (excluding amounts allocated to the guaranteed interest option, reflected in the General Account) after the deduction of any applicable withdrawal changes. The amount allocated to the guaranteed interest option earns interest at the current guaranteed interest rate which is an annual effective rate.

Withdrawals are payments to participants and beneficiaries made under the terms of the Plans and include amounts that participants have requested to be withdrawn and paid to them.

*Income Taxes:* 

The operations of the Account are included in the federal income tax return of Equitable Financial, which is taxed as a life insurance company under the provisions of the Internal Revenue Code. No federal income tax based on net income or realized and unrealized capital gains is currently applicable to contracts participating in the Funds by reason of applicable provisions of the Internal Revenue Code and no federal income tax payable by Equitable Financial is expected to affect the unit value of the Contracts participating in the Account. Accordingly, no provision for federal income taxes is required. However, Equitable Financial retains the right to charge for any federal income tax incurred which is applicable to the Account if the law is changed.

*Foreign Taxes:* 

The Funds may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. The Funds will accrue such taxes and recoveries as applicable, based upon their current interpretation of tax rules and regulations that exist in the markets in which they invest.

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**2**. Significant Accounting Policies (Concluded)

*Accounting policies specific to Separate Account No. 66:*

*Investments:* 

Investments are made in shares of the Portfolios and the fair values of investments are valued at the reported net asset values per share of the respective Portfolios. The net asset value is determined by the Trusts using the fair value of the underlying assets of the Portfolio less liabilities.

*Investment Transactions and Investment Income:* 

Investment transactions are recorded on the trade date. Dividend income and distributions of net realized gains from the Portfolios are recorded and automatically reinvested on the ex-dividend date. Realized gains and losses include (1) gains and losses on the redemptions of investments in the Portfolios (determined on the identified cost basis) and (2) distributions of net realized gains on investment transactions of the Portfolios.

*Due to and Due from:* 

Receivable/payable for policy-related transactions represent amounts due to/from Equitable Financial's General Account primarily related to premiums, surrenders, death benefits and amounts transferred among the various Portfolios by Contractowners. Receivable/payable for shares of the Portfolios sold/purchased represent unsettled trades.

*Contract Payments and Transfers:* 

Payments received from Contractowners represent participant contributions under the Contracts (but exclude amounts allocated to the guaranteed interest account, reflected in the General Account) reduced by deductions and charges, including premium charges, as applicable, and state premium taxes. Contractowners may allocate amounts in their individual accounts to Variable Investment Options of the Account and/or to the guaranteed interest account of Equitable Financial's General Account.

Transfers between Variable Investment Options including the guaranteed interest account, net, are amounts that participants have directed to be moved among Portfolios, including permitted transfers to and from the guaranteed interest account. The net assets of any Variable Investment Option may not be less than the aggregate value of the Contractowner accounts allocated to that Variable Investment Option. Equitable Financial is required by state insurance laws to set aside additional assets in Equitable Financial's General Account to provide for other policy benefits. Equitable Financial's General Account is subject to creditor rights.

Redemptions for contract benefits and terminations are payments to participants and beneficiaries made under the terms of the Contracts and amounts that participants have requested to be withdrawn and paid to them or applied to the purchase of annuities. Withdrawal charges, if any, are included in redemptions for contract benefits and terminations to the extent that such charges apply to the contracts. Administrative charges, if any, are included in Contract maintenance charges to the extent that such charges apply to the Contracts.

*Taxes:* 

The operations of the Account are included in the federal income tax return of Equitable Financial, which is taxed as a life insurance company under the provisions of the Internal Revenue Code. No federal income tax based on net income or realized and unrealized capital gains is currently applicable to contracts participating in the Funds by reason of applicable provisions of the Internal Revenue Code and no federal income tax payable by Equitable Financial is expected to affect the unit value of the Contracts participating in the Account. Accordingly, no provision for federal income taxes is required. However, Equitable Financial retains the right to charge for any federal income tax incurred which is applicable to the Account if the law is changed.

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**3**. Fair Value Disclosures

Under GAAP, fair value is the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. GAAP also establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value:

Level 1 — Quoted prices that are publicly available for identical assets in active markets. Level 1 fair values generally are supported by market transactions that occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets, quoted prices in markets that are not active, and inputs to model-derived valuations that are directly observable or can be corroborated by observable market data.

Level 3 — Unobservable inputs supported by little or no market activity and often requiring significant management judgment or estimation, such as an entity's own assumptions about the cash flows or other significant components of value that market participants would use in pricing the asset or liability.

The fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which is then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3. In addition, non-agency rated investments are classified as Level 3.

Where readily available market prices or relevant bid prices are not available for certain equity investments, such investments may be valued based on similar publicly traded investments, movements in relevant indices since last available prices or based upon underlying company fundamentals and comparable company data (such as multiples to earnings or other multiples to equity). Where an investment is valued using an observable input, such as another publicly traded security, the investment will be classified as Level 2. If management determines that an adjustment is appropriate based on restrictions on resale, illiquidity or uncertainty, and such adjustment is a significant component of the valuation, the investment will be classified as Level 3. An investment will also be classified as Level 3 where management uses company fundamentals and other significant inputs to determine the valuation.

Valuations of mortgage-backed or other asset-backed securities, by pricing vendors, are based on both proprietary and industry recognized models and discounted cash flow techniques. Significant inputs to the valuation of these instruments are value of the collateral, the rates and timing of delinquencies, the rates and timing of prepayments, and default and loss expectations, which are driven in part by housing prices for residential mortgages. Significant inputs are determined based on relative value analyses, which incorporate comparisons to instruments with similar collateral and risk profiles, including relevant indices. Mortgage and asset backed securities for which management has collected current observable data through pricing services are generally categorized within Level 2. Those investments for which current observable data has not been provided are classified as Level 3.

The Advisor has established a Valuation Committee (the "Committee") which is responsible for overseeing the pricing and valuation of all securities held in the Fund. The Committee operates under pricing and valuation policies and procedure established by the Advisor and approved by the Board, including pricing policies which set forth the mechanisms and processes to be employed on a daily basis to implement these policies and procedures. In particular, the pricing policies describe how to determine market quotations for securities and other instruments. The Committee's responsibilities include: 1) fair value and liquidity determinations (and oversight of any third parties to whom any responsibility for fair value and liquidity determinations is delegated), and 2) regular monitoring of the Advisor's pricing and valuation policies and procedures and modification or enhancement of these policies and procedures (or recommendation of the modification of these policies and procedures) as the Committee believes appropriate.

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**3**. Fair Value Disclosures (Continued)

The Committee is also responsible for monitoring the implementation of the pricing policies by the Advisor's Pricing Group (the "Pricing Group") and a third party which performs certain pricing functions in accordance with the pricing policies. The Pricing Group is responsible for the oversight of the third party on a day-to-day basis. The Committee and the Pricing Group perform a series of activities to provide reasonable assurance of the accuracy of prices including: 1) periodic vendor due diligence meetings, review of methodologies, new developments and processes at vendors, 2) daily comparison of security valuation versus prior day for all securities that exceeded established thresholds, and 3) daily review of unpriced, stale, and variance reports with exceptions reviewed by senior management and the Committee.

In addition, several processes outside of the pricing process are used to monitor valuation issues including: 1) performance and performance attribution reports are monitored for anomalous impacts based upon benchmark performance, and 2) portfolio managers review all portfolios for performance and analytics (which are generated using the Advisor's prices).

For Separate Account No. 66, all investments of each Variable Investment Option of the Account have been classified as Level 1. There were no transfers between Level 1, Level 2 and Level 3 during the year for Separate Account No. 66.

For Separate Accounts No. 10, 4, and 3, assets measured at fair value on a recurring basis are summarized below as of the dates indicated:

---

| | | | |
|:---|:---|:---|:---|
|  | **Fair Value Measurements as of December 31, 2025** | **Fair Value Measurements as of December 31, 2025** | **Fair Value Measurements as of December 31, 2025** |
|  | **Level 1** | **Level 1** | **Level 1** |
|  | **Separate<br>Account<br>No. 10** | **Separate<br>Account**<br>**No. 4** | **Separate<br>Account<br>No. 3** |
|  **Assets** |  |  |  |
|  Investments: |  |  |  |
|  Common stocks |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Communication services | $942816 | $13851563 | $1407396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer discretionary | 961630 | 15347515 | 3390587 |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer staples | 513089 | 2790839 | 371500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy | 309193 | 329539 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Financials | 1489990 | 7309742 | 1187528 |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care | 1126616 | 9335100 | 3254118 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrials | 954986 | 6821578 | 5747267 |
| &nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 2814334 | 57584655 | 4750460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Materials & processing | 281814 | 356741 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Real estate | 140824 | 492705 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Utilities | 224789 | 321968 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total common stocks** | 9760081 | 114541945 | 20108856 |
|  Other financial instruments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts<sup>(1)</sup> |  | (11545) |  |
|  **Total other financial instruments** |  | (11545) |  |
|  **Total Level 1** | $9760081 | $114530400 | $20108856 |

---

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**3**. Fair Value Disclosures (Concluded)

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 2** | **Level 2** | **Level 2** |
|  | **Separate<br>Account<br>No. 10** | **Separate<br>Account<br>No. 4** | **Separate<br>Account<br>No. 3** |
|  **Assets** |  |  |  |
|  Investments: |  |  |  |
|  Fixed Maturities, available for sale |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Corporate | $2167624 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury, government and agency | 2684213 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; States and political subdivision | 64711 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial mortgage-backed | 7379 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortgage Pass-Throughs | 1580427 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Asset-backed | 22785 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total fixed maturities, available for sale** | 6527139 |  |  |
|  Common stocks |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Communication services |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer discretionary |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer staples |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Energy |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Financials |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrials |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Information Technology |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Materials & processing |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Utilities |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total common stocks** |  |  |  |
|  Short-term investments |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury, government and agency | 494519 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total short-term investments** | 494519 |  |  |
|  Affiliated separate accounts |  |  |  |
|  **Total Level 2** | $7021658 | $— | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Only variation margin receivable/(payable) at year end is reported within the statement of assets and liabilities. This mount reflects cumulative unrealized depreciation of futures as reported in the portfolio of
investments.

**4**. Segment Reporting

Equitable Financial has identified its President and the President of Equitable Investment Management Group, LLC ("EIMG") as the Chief Operating Decision Makers ("CODM") assessing performance and making decisions about resource allocation for the Separate Account. The Separate Account is comprised of multiple subaccounts; each subaccount represents a variable investment option. As an investment company, the Separate Account engages in a single line of business, which typically involves managing funds that are segregated from the general assets of the Separate Account's parent company. The Separate Account is used for products such as variable annuities and life insurance policies, where contractholders can choose from various investment options across different asset classes, which allow contractholders to diversify their portfolios according to their risk tolerance and investment goals.

The CODM determined that each variable investment option makes up one operating segment of the Separate Account. The Separate Account's variable investment options are pre-determined in accordance with the terms of the prospectus. The financial information provided and reviewed by the CODM is consistent with those presented within the Statement of Assets and Liabilities, Statement of Operations, Statement of Changes in Net Assets, Portfolio of Investments, and Financial Highlights.

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**5**. Purchases and Sales of Portfolios

Investment Security Transactions:

For the year ended December 31, 2025, investment security transactions, excluding short-term debt securities, were as follows for Separate Accounts No. 10, 4, and 3:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Purchases** | **Purchases** | **Sales** | **Sales** |
| **Fund** | **Stocks and<br>Debt Securities** | **U.S.<br>Government<br>and Agencies** | **Stocks and<br>Debt Securities** | **U.S.<br>Government<br>and Agencies** |
|  Separate Account No. 10 | $15743949 | $6064649 | $17448263 | $6084834 |
|  Separate Account No. 4 | 17413513 |  | 34349295 |  |
|  Separate Account No. 3 | 22247727 |  | 25885534 |  |

---

The cost of purchases and proceeds from sales of Portfolios for the year ended December 31, 2025 were as follows: for Separate Account No. 66:

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
|  1290 Avantis<sup>®</sup> U.S. Large Cap Growth | $165604 | $291212 |
|  1290 VT Equity Income | 315360 | 489958 |
|  1290 VT GAMCO Mergers & Acquisitions | 28967 | 73525 |
|  1290 VT GAMCO Small Company Value | 333549 | 827448 |
|  1290 VT Socially Responsible | 494787 | 281784 |
|  American Funds IS<sup>®</sup> 2020 Target Date Fund | 415349 | 168756 |
|  American Funds IS<sup>®</sup> 2025 Target Date Fund | 1914835 | 670548 |
|  American Funds IS<sup>®</sup> 2030 Target Date Fund | 3132752 | 328305 |
|  American Funds IS<sup>®</sup> 2035 Target Date Fund | 3072429 | 2185603 |
|  American Funds IS<sup>®</sup> 2040 Target Date Fund | 1813226 | 135277 |
|  American Funds IS<sup>®</sup> 2045 Target Date Fund | 2339415 | 243337 |
|  American Funds IS<sup>®</sup> 2050 Target Date Fund | 1652658 | 398218 |
|  American Funds IS<sup>®</sup> 2055 Target Date Fund | 1455126 | 610619 |
|  American Funds IS<sup>®</sup> 2060 Target Date Fund | 23754 | 9112 |
|  American Funds IS<sup>®</sup> 2065 Target Date Fund | 14837 | 2800 |
|  American Funds IS<sup>®</sup> 2070 Target Date Fund | 18700 | 689 |
|  EQ/AB Small Cap Growth | 233062 | 197607 |
|  EQ/Aggressive Allocation | 533635 | 567235 |
|  EQ/All Asset Growth Allocation | 95985 | 84990 |
|  EQ/Capital Group Research | 1165958 | 1191257 |
|  EQ/ClearBridge Large Cap Growth ESG | 188482 | 173228 |
|  EQ/Conservative Allocation | 269979 | 827221 |
|  EQ/Conservative-Plus Allocation | 183101 | 263893 |
|  EQ/Core Plus Bond | 211030 | 122429 |
|  EQ/Equity 500 Index | 2488969 | 4780551 |
|  EQ/Global Equity Managed Volatility | 236627 | 184822 |
|  EQ/Intermediate Government Bond | 504684 | 230529 |
|  EQ/International Core Managed Volatility | 344972 | 222953 |
|  EQ/International Equity Index | 868233 | 1343310 |
|  EQ/Janus Enterprise | 201518 | 278461 |
|  EQ/JPMorgan Growth Stock | 442522 | 361793 |
|  EQ/JPMorgan Value Opportunities | 12533 | 984 |
|  EQ/Large Cap Growth Index | 1848210 | 1408545 |
|  EQ/Large Cap Growth Managed Volatility | 776787 | 1150336 |
|  EQ/Large Cap Value Managed Volatility | 861938 | 1208794 |
|  EQ/MFS International Growth | 894914 | 210089 |
|  EQ/Mid Cap Index | 180676 | 288008 |

---

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**5**. Purchases and Sales of Portfolios (Concluded)

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
|  EQ/Mid Cap Value Managed Volatility | $400758 | $666590 |
|  EQ/Moderate Allocation | 5783291 | 5500096 |
|  EQ/Moderate-Plus Allocation | 545469 | 485253 |
|  EQ/Money Market | 4413488 | 4826783 |
|  EQ/PIMCO Global Real Return | 53626 | 35504 |
|  EQ/PIMCO Ultra Short Bond | 241881 | 164334 |
|  EQ/Quality Bond PLUS | 3746 | 392 |
|  EQ/Small Company Index | 330858 | 1073347 |
|  Equitable Conservative Growth MF/ETF | 69638 | 26040 |
|  Multimanager Core Bond | 26921 | 102192 |
|  Multimanager Technology | 1380512 | 1188201 |
|  Target 2015 Allocation | 48886 | 39931 |
|  Target 2025 Allocation | 118522 | 318166 |
|  Target 2035 Allocation | 50357 | 39931 |
|  Target 2045 Allocation | 103319 | 122945 |
|  Target 2055 Allocation | 1472 | 8865 |
|  Vanguard Variable Insurance Fund Total Bond Market Index Portfolio | 1942580 | 670423 |
|  Vanguard Variable Insurance Fund Total Stock Market Index Portfolio | 8535583 | 3062698 |

---

**6**. Expenses and Related Party Transactions

In Separate Account No. 66, the assets in each Variable Investment Option are invested in shares of a corresponding Portfolio of the Trusts. Shares are offered by the Portfolios at net asset value. Shares in which the Variable Investment Options invest are categorized by the share class of the Portfolio. 1290 Funds issue Class A, Class I and Class R shares and EQAT issues Class IA, Class IB and Class K shares. All share classes issued by 1290 Funds and EQAT are subject to fees for investment management, administration and other Portfolio expenses. Class A, Class IA, Class IB and Class R shares are also subject to distribution fees imposed under distribution plans ("Distribution Plans") and adopted by 1290 Funds and EQAT in the manner prescribed under Rule 12b-1 under the 1940 Act. The Distribution Plans provide that the 1290 Trust, on behalf of each related Portfolio, may charge an annual distribution fee ("12b-1 fee") of 0.25% of the average daily net assets of a Portfolio attributable to its Class A shares and 0.50% of the average daily net assets of a Portfolio attributable to its Class R shares. The Distributions Plans also provide that the EQAT, on behalf of each related Portfolio, may charge a maximum 12b-1 fee of 0.25% of the average daily net assets of a Portfolio attributable to its Class IA and Class IB shares. The class-specific expenses attributable to the investment in each share class of the Portfolios in which the Variable Investment Options invest are borne by the specific unit classes of the Variable Investment Options to which the investments are attributable.

EQAT, on behalf of each Portfolio, has entered into distribution agreements with Equitable Distributors, LLC ("Equitable Distributors"), an indirect wholly-owned subsidiary of Equitable Financial and an affiliate of EIMG. The Distribution Plans provide that Equitable Distributors will be entitled to receive a maximum 12b-1 fee as described above.

Equitable Investment Management, LLC ("EIM"), an affiliate of Equitable Financial, serves as the investment advisor of the

Portfolios of 1290 Funds. EIMG, a wholly-owned subsidiary of Equitable Financial, serves as the investment adviser of the Portfolios EQAT. EIM and EIMG either (1) directly manage the Portfolios or (2) contract with and oversees the activities of the investment sub-advisers with respect to the Portfolios. EIM and EIMG receive management fees for services performed in its capacity as the investment adviser of the Portfolios of 1290 Funds and EQAT, and pays fees to the sub-advisers for sub-advisory services to the respective Portfolios. EIM serves as the administrator of the Portfolios of 1290 Funds and EQAT. As the administrator, EIM either (1) carries out its responsibilities directly or (2) through sub-contracting with third-party providers. EIM receives administrative fees for services performed in its capacity as administrator of the Portfolios of 1290 Funds and EQAT. Expenses of the Portfolios of 1290 Funds and EQAT generally vary, depending on net asset levels for individual Portfolios, and range from a low annual rate of 0.54% to a high of 2.49% (after waivers, reimbursements, fees paid indirectly and including indirect expenses, as applicable) of the average

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**6**. Expenses and Related Party Transactions (Concluded)

daily net assets of the Portfolios of 1290 Funds and EQAT. Since these fees and expenses are reflected in the net asset value of the shares of the Portfolios and the total returns of the Variable Investment Options, they are not included in the expenses or expense ratios of the Variable Investment Options.

Equitable Financial, Equitable Advisors, LLC ("Equitable Advisors") or Equitable Distributors may directly or indirectly receive 12b-1 fees and additional payments from certain unaffiliated Portfolios, their advisers, sub-advisers, distributors or affiliates, for providing certain administrative, marketing, distribution and/or shareholder support services in connection with the Variable Investment Options' investment in the Portfolios. For the year ended December 31, 2025, there were no 12b-1 fees or additional payments from the unaffiliated portfolio. Equitable Advisors or Equitable Distributors may also receive payments from the advisers or sub-advisers of the unaffiliated Portfolios or their affiliates for certain distribution services, including expenses for sales meetings or seminar sponsorships that may relate to the policies and/or the advisers' respective Portfolios.

AllianceBernstein L.P. ("AllianceBernstein") serves as an investment sub-advisor for the EQ/AB Small Cap Growth; EQ/Equity 500 Index; EQ/International Equity Index; EQ/Large Cap Growth Index; EQ/Mid Cap Index; EQ/Small Company Index and Separate Accounts No. 10, 4 and 3; as well as a portion of EQ/Large Cap Value Managed Volatility, EQ/Quality Bond PLUS, and Multimanager Technology. AllianceBernstein is a publicly traded limited partnership which is indirectly majority-owned by Equitable Holdings, Inc.

Equitable Advisors is an affiliate of Equitable Financial, and a distributor and principal underwriter of the policies ("Contracts"). Equitable Advisors is registered with the Securities and Exchange Commission ("SEC") as a broker-dealer and is a member of the Financial Industry Regulatory Authority ("FINRA").

The Contracts are sold by financial professionals who are registered representatives of Equitable Advisors and licensed insurance agents of Equitable Network, LLC (" Equitable Network") or its subsidiaries (affiliates of Equitable Financial). Equitable Advisors receives commissions and other service-related payments under its distribution agreement with Equitable Financial and its networking agreement with Equitable Network.

In addition to using brokers and dealers to execute portfolio security transactions for accounts under their management, Equitable Financial, AllianceBernstein, and Equitable Advisors may also enter into other types of business and securities transactions with brokers and dealers, which will be unrelated to allocation of the Equitable Financial Funds' portfolio transactions.

Equitable Financial serves as the transfer agent for EQAT.

**7.** Asset-based Charges and Contractowner Charges

Charges and fees relating to the Portfolios are paid to Equitable Financial and are deducted in accordance with the terms of the various contracts which participate in the Portfolios. Depending upon the terms of a contract, sales-related fees and operating expenses are paid (i) by a reduction of an appropriate number of Portfolio units or (ii) reduction in unit value.

**RIA** 

Charges and fees relating to the Portfolios are paid to Equitable Financial and are deducted in accordance with the terms of the various contracts which participate in the Portfolios. Depending upon the terms of a contract, sales-related fees and operating expenses are paid by the contract holders (i) by a reduction of an appropriate number of Portfolio units or (ii) reduction in unit value from contractowners. Fees with respect to the Retirement Investment Account (RIA) contracts are as follows:

*Investment Management Fee:* 

An annual rate of 0.50% of the net assets attributable to RIA units is assessed for the AllianceBernstein Balanced Fund, and AllianceBernstein Mid Cap Growth Fund, and an annual rate of 0.08% for the AllianceBernstein Common Stock Fund. This fee is reflected as a reduction in RIA unit value.

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**7.** Asset-based Charges and Contractowner Charges (Continued)

*Administrative Fees:* 

Contracts investing in the Portfolios are subject to certain administrative expenses according to contract terms. Depending upon the terms of a contract, fees are paid (i) by a reduction of an appropriate number of Portfolio units or (ii) reduction in unit value. These fees may include: Ongoing Operations Fee — An expense charge is made based on the combined net balances of each fund. Depending upon the terms of a contract, fees are paid (i) by a reduction of an appropriate number of Fund units or (ii) reduction in unit value. For employer plans which adopted RIA after February 9, 1986, the monthly rate ranges are summarized in the table below:

---

| | |
|:---|:---|
| **Combined balance of investment options** | **Monthly Rate** |
|  First $150,000 | 1/12 of 1.25% |
|  Next $350,000 | 1/12 of 1.00% |
|  Next $500,000 | 1/12 of 0.75% |
|  Next $1,500,000 | 1/12 of 0.50% |
|  Over $2,500,000 | 1/12 of 0.25% |

---

Participant Recordkeeping Services Charge — Employers electing RIA's optional Participant Recordkeeping Services are subject to an annual charge of $25 per employee-participant under the employer plan. Depending upon the terms of a contract, fees are paid (i) by a reduction of an appropriate number of Fund units or (ii) reduction in unit value.

Contingent Withdrawal Charge — Certain withdrawals are subject to defined contingent withdrawal charges. The maximum charge is 6.00% of the total plan assets withdrawn and is deducted as a liquidation of Portfolio units.

Loan Fee — A loan fee equal to 1.00% of the amount withdrawn as loan principal is deducted on the date the plan loan is made.

*Operating and Expense Charges:* 

In addition to the charges and fees mentioned above, Separate Accounts No. 10, 4, and 3 are charged for certain costs and expenses directly related to their operations. These may include transfer taxes, SEC filing fees and certain related expenses including printing of SEC filings, prospectuses and reports. These charges and fees are reflected as reductions of unit value.

**MRP** 

Charges and fees relating to the Portfolios paid to Equitable Financial are deducted in accordance with the terms of the various contracts which participate in the Portfolios. With respect to the Members Retirement Program these expenses consist of investment management, program expense charge, direct expenses, and record maintenance. These charges and fees are paid to Equitable Financial. Fees with respect to the Members Retirement Program contracts are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Program Expense Charge — Equitable Financial assesses a Program expense charge on a monthly basis, which is charged
against accounts in the plans that invest in the Separate Accounts. Equitable Financial determines the Program expense charge for each plan on the last day of each month, based on two factors: (1) the average account value of the accounts in
the plan, and (2) the value of the total plan assets invested in the Members Retirement Program by the plan, on that date. The Program expense charge is applied to all assets in the plan. All participants in a plan pay the Program expense
charge at the same percentage rate, regardless of individual account value. Prior to May 2, 2016, the Program expense charges will be as follows; if the Average account value under the Plan is $75,000 or less, then the Program expense charge
will be (i) 1.00% of the first $250,000, (ii) 0.80% of the next $250,000 and (iii) 0.65% of the excess over $500,000. If the Average account value under the Plan is more than $75,000, then the Program expense charge will be (i) 1.00% of the first
$250,000, (ii) 0.70% of the next $250,000 and (iii) 0.55% of the excess over $500,000. Effective May 2, 2016, the Program expense charges will be as follows; if the Average account value under the Plan is $75,000 or less, then the Program
expense charge will be (i) 0.85% of the first $250,000 (ii) 0.65% of the next $250,000 and (iii) 0.50% of the excess over $500,000. If the Average account value under the Plan is more than $75,000, then the Program expense charge will be (i) 0.85%
of the first $250,000, (ii) 0.55% of the next $250,000 and (iii) 0.40% of the excess over $500,000.

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**7.** Asset-based Charges and Contractowner Charges (Continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Investment Management Fees — An expense charge is made daily at an effective annual rate of 0.50% of the net assets
of the AllianceBernstein Balanced Fund and an effective annual rate of 0.30% for the AllianceBernstein Growth Equity Fund and an effective annual rate of 0.65% for the AllianceBernstein Mid Cap Growth Fund. This fee is reflected as a reduction in
MRP unit value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Direct Operating and Other Expenses — In addition to the charges and fees mentioned above, the Funds are charged for
certain costs and expenses directly related to their operations. These may include transfer taxes, SEC filing fees and certain related expenses including printing of SEC filings, prospectuses and reports. This fee is reflected as a reduction in MRP
unit value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A record maintenance and report fee of $3.75 per participant is deducted quarterly as a liquidation of fund units.

**EPP** 

Charges and fees relating to the Funds are paid to Equitable Financial and are deducted in accordance with the terms of the various contracts, which participate in the Funds. Depending upon the terms of a contract, sales-related fees and operating expenses are paid (i) by a reduction of an appropriate number of Fund Units or (ii) reduction in unit value. Fees with respect to the Equi-Pen-Plus Master Plan and Retirement Trust are as follows:

*Investment Management Fee:* 

An annual rate of 0.25% of the total plan and trust net assets is deducted daily for the AllianceBernstein Balanced Fund and an annual rate of 0.08% for the AllianceBernstein Common Stock Fund. This fee is reflected as reduction in EPP unit value.

*Administrative Fees:* 

Ongoing Operations Fee — An expense charge is made based on each client's combined balance of Master Plan and Trust net assets in the Funds and Equitable Financial's Fixed Income Accounts at a monthly rate of 1/12 of (i) 1 of the first $500,000 (ii) 0.75% of the next $500,000 and (iii) 0.50% of the excess over $1,000,000. The ongoing operations fee is generally paid via a liquidation of units held in the fund.

Participant Recordkeeping Services Charge — Employers electing Equi-Pen-Plus's optional Participant Recordkeeping Services are subject to an annual charge of $25 per employee-participant under the employer plan. The participant recordkeeping service charge is generally paid via a liquidation of units held in the fund.

Withdrawal Charge — A charge is applied if the client terminates plan participation in the Master Retirement Trust ("Master Trust") and if the client transfers assets to another funding agency before the fifth anniversary of the date Equitable Financial accepts the participation agreement. The redemption charge is generally paid via a liquidation of units held in the fund and will be based on the following schedule:

---

| | |
|:---|:---|
| **For Termination Occurring In:** | **Withdrawal Charge:** |
|  Years 1 and 2 | 3% of all Master Trust assets |
|  Years 3 and 4 | 2% of all Master Trust assets |
|  Year 5 | 1% of all Master Trust assets |
|  After Year 5 | No Withdrawal Charge |

---

*Operating and Expense Charges:* 

In addition to the charges and fees mentioned above, Separate Accounts No. 10, 4, and 3 are charged for certain costs and expenses directly related to their operations. These may include custody, audit and printing of reports. These charges and fees are reflected as reduction of unit value.

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**7.** Asset-based Charges and Contractowner Charges (Concluded)

*Institutional* 

*Asset Management Fees* 

Asset management fees are charged to clients investing in the Separate Accounts. The fees are based on the prior month-end net asset value (as defined) of each client's aggregate interest in Equitable Financial's Separate Accounts, and are determined monthly. The fees are calculated for each client in accordance with the schedule set forth below for the Balanced Account and the Mid Cap Growth Stock Account:

---

| | |
|:---|:---|
| **Each Client's Aggregate Interest** | **Annual Rate** |
|  Minimum Fee | $5000 |
|  First $2 million | 0.85 of 1% |
|  Next $3 million | 0.60 of 1% |
|  Next $5 million | 0.40 of 1% |
|  Next $15 million | 0.30 of 1% |
|  Next $75 million | 0.25 of 1% |
|  Excess over $100 million | 0.20 of 1% |

---

Asset management fees for the Growth Stock Account is an expense charge determined monthly with an effective annual rate of 0.08%.

Asset management fees are paid to Equitable Financial. Clients can either pay the fee directly by remittance to the Separate Account or via liquidation of units held in the Separate Accounts.

*Administrative Fees* 

Certain client contracts provide for a fee for administrative services to be paid directly to Equitable Financial. This administrative fee is calculated according to the terms of the specific contract and is generally paid via a liquidation of units held in the funds in which the contract invests. The payment of the fee for administrative services has no effect on other Separate Account clients or the unit values of the separate accounts.

*Operating and Expense Charges* 

In addition to the charges and fees mentioned above, the Separate Accounts No. 10, 4, and 3 are charged for certain costs and expenses directly related to their operations. These charges may include custody and audit fees, and result in reduction of Separate Account unit values.

Administrative fees paid through a liquidation of units in Separate Account No. 66 are shown in the Statements of Changes in Net Assets as Contract maintenance charges. The aggregate of all other fees are included in Asset-based charges in the Statements of Operations. Asset-based charges including accounting and administration fees.

**8.** Changes in Units Outstanding

Accumulation units issued and redeemed for the years or periods ended of December 31, 2025 and December 31, 2024 were (in thousands):

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  |<br>**Product** | **Units<br>Issued**<br>**(000's)** | **Units<br>Redeemed**<br>**(000's)** | **Net<br>Increase<br>(Decrease)** | **Units<br>Issued**<br>**(000's)** | **Units<br>Redeemed**<br>**(000's)** | **Net<br>Increase<br>(Decrease)** |
|  **SEPARATE ACCOUNT NO. 10** |  |  |  |  |  |  |  |
|  ALLIANCEBERNSTEIN BALANCED FUND | RIA |  |  |  |  |  |  |
|  ALLIANCEBERNSTEIN BALANCED FUND | MRP | 7 | (19) | (12) | 4 | (27) | (23) |
|  ALLIANCEBERNSTEIN BALANCED FUND | EPP |  |  |  |  |  |  |
|  BALANCED ACCOUNT | INSTITUTIONAL |  |  |  |  |  |  |

---

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8.** Changes in Units Outstanding (Continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  |<br>**Product** | **Units<br>Issued**<br>**(000's)** | **Units<br>Redeemed**<br>**(000's)** | **Net<br>Increase<br>(Decrease)** | **Units<br>Issued**<br>**(000's)** | **Units<br>Redeemed**<br>**(000's)** | **Net<br>Increase<br>(Decrease)** |
|  **SEPARATE ACCOUNT NO. 4** |  |  |  |  |  |  |  |
|  ALLIANCEBERNSTEIN COMMON STOCK FUND | RIA |  |  |  |  |  |  |
|  ALLIANCEBERNSTEIN GROWTH EQUITY FUND | MRP | 1 | (3) | (2) | 2 | (6) | (4) |
|  ALLIANCEBERNSTEIN COMMON STOCK FUND | EPP |  |  |  |  |  |  |
|  GROWTH STOCK ACCOUNT | INSTITUTIONAL |  |  |  |  |  |  |
|  **SEPARATE ACCOUNT NO. 3** |  |  |  |  |  |  |  |
|  ALLIANCEBERNSTEIN MID CAP GROWTH FUND | RIA |  | (1) | (1) |  | (1) | (1) |
|  ALLIANCEBERNSTEIN MID CAP GROWTH FUND | MRP | 24 | (133) | (109) | 33 | (152) | (119) |
|  MID CAP GROWTH STOCK ACCOUNT | INSTITUTIONAL |  |  |  |  |  |  |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |  |
| | **Product** | **Share<br>Class\*\*** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** |  |
| | **Product** | **Share<br>Class\*\*** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** |  |
| | **Product** | **Share<br>Class\*\*** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** | **SEPARATE ACCOUNT NO. 66** |
|  1290 AVANTIS<sup>®</sup> U.S. LARGE CAP GROWTH | MRP | CLASS I | 8 | (15) | (7) | 5 | (24) | (19) |  |
|  1290 VT EQUITY INCOME | MRP | CLASS IB | 4 | (16) | (12) | 6 | (9) | (3) |  |
|  1290 VT GAMCO MERGERS & ACQUISITIONS | MRP | CLASS IB | 1 | (4) | (3) | 2 | (1) | 1 |  |
|  1290 VT GAMCO SMALL COMPANY VALUE | MRP | CLASS IB | 2 | (13) | (11) | 4 | (18) | (14) |  |
|  1290 VT SOCIALLY RESPONSIBLE | RIA | CLASS IB |  |  |  |  |  |  |  |
|  1290 VT SOCIALLY RESPONSIBLE | MRP | CLASS IB | 4 | (6) | (2) | 4 | (27) | (23) |  |
|  AMERICAN FUNDS IS<sup>®</sup> 2020 TARGET DATE FUND | MRP | CLASS I | 40 | (15) | 25 |  |  |  |  |
|  AMERICAN FUNDS IS<sup>®</sup> 2025 TARGET DATE FUND | MRP | CLASS I | 179 | (61) | 118 | 5 |  | 5 |  |
|  AMERICAN FUNDS IS<sup>®</sup> 2030 TARGET DATE FUND | MRP | CLASS I | 298 | (31) | 267 |  |  |  |  |
|  AMERICAN FUNDS IS<sup>®</sup> 2035 TARGET DATE FUND | MRP | CLASS I | 294 | (192) | 102 |  |  |  |  |
|  AMERICAN FUNDS IS<sup>®</sup> 2040 TARGET DATE FUND | MRP | CLASS I | 172 | (12) | 160 |  |  |  |  |
|  AMERICAN FUNDS IS<sup>®</sup> 2045 TARGET DATE FUND | MRP | CLASS I | 233 | (22) | 211 |  |  |  |  |
|  AMERICAN FUNDS IS<sup>®</sup> 2050 TARGET DATE FUND | MRP | CLASS I | 157 | (35) | 122 |  |  |  |  |
|  AMERICAN FUNDS IS<sup>®</sup> 2055 TARGET DATE FUND | MRP | CLASS I | 139 | (56) | 83 | 2 |  | 2 |  |
|  AMERICAN FUNDS IS<sup>®</sup> 2060 TARGET DATE FUND | MRP | CLASS I | 2 | (1) | 1 |  |  |  |  |

---

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8.** Changes in Units Outstanding (Continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |  |  |  |  |
| | **Product** | **Share<br>Class\*\*** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** |  |  |  |  |
| | **Product** | **Share<br>Class\*\*** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** | AMERICAN FUNDS IS<sup>®</sup> 2065 TARGET DATE FUND | MRP | CLASS I | 1 |
| | **Product** | **Share<br>Class\*\*** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** | AMERICAN FUNDS IS<sup>®</sup> 2070 TARGET DATE FUND | MRP | CLASS I | 2 |
|  EQ/AB SMALL CAP GROWTH . | RIA | CLASS IB |  |  |  |  |  |  |  |  |  |  |
|  EQ/AB SMALL CAP GROWTH | MRP | CLASS IB | 4 | (6) | (2) | 8 | (8) |  |  |  |  |  |
|  EQ/AGGRESSIVE ALLOCATION | MRP | CLASS IB | 11 | (21) | (10) | 9 | (28) | (19) |  |  |  |  |
|  EQ/ALL ASSET GROWTH ALLOCATION | MRP | CLASS IB | 3 | (4) | (1) | 3 | (1) | 2 |  |  |  |  |
|  EQ/CAPITAL GROUP RESEARCH | RIA | CLASS IB |  |  |  |  |  |  |  |  |  |  |
|  EQ/CAPITAL GROUP RESEARCH | MRP | CLASS IB | 3 | (11) | (8) | 4 | (27) | (23) |  |  |  |  |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG | RIA | CLASS IB |  |  |  |  |  |  |  |  |  |  |
|  EQ/CLEARBRIDGE LARGE CAP GROWTH ESG | MRP | CLASS IB | 2 | (4) | (2) | 4 | (31) | (27) |  |  |  |  |
|  EQ/CONSERVATIVE ALLOCATION | MRP | CLASS IB | 10 | (51) | (41) | 12 | (13) | (1) |  |  |  |  |
|  EQ/CONSERVATIVE-PLUS ALLOCATION | MRP | CLASS IB | 7 | (14) | (7) | 6 | (4) | 2 |  |  |  |  |
|  EQ/CORE PLUS BOND | RIA | CLASS IA |  |  |  |  |  |  |  |  |  |  |
|  EQ/CORE PLUS BOND | MRP | CLASS IB | 13 | (10) | 3 | 28 | (19) | 9 |  |  |  |  |
|  EQ/EQUITY 500 INDEX | RIA | CLASS IA |  |  |  |  |  |  |  |  |  |  |
|  EQ/EQUITY 500 INDEX | MRP | CLASS IB | 28 | (89) | (61) | 41 | (65) | (24) |  |  |  |  |
|  EQ/GLOBAL EQUITY MANAGED VOLATILITY | RIA | CLASS IB |  |  |  |  |  |  |  |  |  |  |
|  EQ/GLOBAL EQUITY MANAGED VOLATILITY | MRP | CLASS IB | 3 | (6) | (3) | 4 | (20) | (16) |  |  |  |  |
|  EQ/INTERMEDIATE GOVERNMENT BOND | RIA | CLASS IA |  |  |  |  |  |  |  |  |  |  |
|  EQ/INTERMEDIATE GOVERNMENT BOND | MRP | CLASS IB | 29 | (17) | 12 | 37 | (41) | (4) |  |  |  |  |
|  EQ/INTERNATIONAL CORE MANAGED VOLATILITY | RIA | CLASS IB |  |  |  |  |  |  |  |  |  |  |
|  EQ/INTERNATIONAL CORE MANAGED VOLATILITY | MRP | CLASS IB | 9 | (10) | (1) | 6 | (16) | (10) |  |  |  |  |
|  EQ/INTERNATIONAL EQUITY INDEX | RIA | CLASS IA |  |  |  |  |  |  |  |  |  |  |
|  EQ/INTERNATIONAL EQUITY INDEX | MRP | CLASS IA | 16 | (34) | (18) | 15 | (36) | (21) |  |  |  |  |
|  EQ/JANUS ENTERPRISE | MRP | CLASS IB | 3 | (8) | (5) | 5 | (13) | (8) |  |  |  |  |
|  EQ/JPMORGAN GROWTH STOCK | RIA | CLASS IB |  |  |  |  |  |  |  |  |  |  |
|  EQ/JPMORGAN GROWTH STOCK | MRP | CLASS IB | 4 | (7) | (3) | 6 | (14) | (8) |  |  |  |  |
|  EQ/JPMORGAN VALUE OPPORTUNITIES | RIA | CLASS IB |  |  |  |  |  |  |  |  |  |  |
|  EQ/LARGE CAP GROWTH INDEX | RIA | CLASS IB |  |  |  |  |  |  |  |  |  |  |
|  EQ/LARGE CAP GROWTH INDEX | MRP | CLASS IB | 8 | (21) | (13) | 186 | (140) | 46 |  |  |  |  |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY | RIA | CLASS IB |  |  |  |  |  |  |  |  |  |  |
|  EQ/LARGE CAP GROWTH MANAGED VOLATILITY | MRP | CLASS IB | 6 | (30) | (24) | 5 | (17) | (12) |  |  |  |  |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | RIA | CLASS IB |  |  |  |  |  |  |  |  |  |  |
|  EQ/LARGE CAP VALUE MANAGED VOLATILITY | MRP | CLASS IB | 7 | (30) | (23) | 10 | (90) | (80) |  |  |  |  |

---

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**8.** Changes in Units Outstanding (Concluded)

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |  |  |  |  |  |  |  |
| | **Product** | **Share Class\*\*** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** |  |  |  |  |  |  |  |
| | **Product** | **Share Class\*\*** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** | EQ/MFS INTERNATIONAL GROWTH | MRP | CLASS IB | 27 | (8) | 19 | 11 |
| | **Product** | **Share Class\*\*** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** | **Units**<br>**Issued**<br>**(000's)** | **Units**<br>**Redeemed**<br>**(000's)** | **Net<br>Increase**<br>**(Decrease)**<br>**(000's)** | EQ/MID CAP INDEX | RIA | CLASS IB |  |  |  |  |
|  EQ/MID CAP INDEX | MRP | CLASS IB | 4 | (8) | (4) | 3 | (5) | (2) |  |  |  |  |  |  |  |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | RIA | CLASS IB |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  EQ/MID CAP VALUE MANAGED VOLATILITY | MRP | CLASS IB | 3 | (14) | (11) | 5 | (15) | (10) |  |  |  |  |  |  |  |
|  EQ/MODERATE ALLOCATION | MRP | CLASS IB | 171 | (274) | (103) | 155 | (243) | (88) |  |  |  |  |  |  |  |
|  EQ/MODERATE-PLUS ALLOCATION | MRP | CLASS IB | 13 | (21) | (8) | 14 | (26) | (12) |  |  |  |  |  |  |  |
|  EQ/MONEY MARKET | RIA | CLASS IA |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  EQ/MONEY MARKET | MRP | CLASS IB | 333 | (412) | (79) | 956 | (739) | 217 |  |  |  |  |  |  |  |
|  EQ/PIMCO GLOBAL REAL RETURN | MRP | CLASS K | 3 | (3) |  | 10 | (12) | (2) |  |  |  |  |  |  |  |
|  EQ/PIMCO ULTRA SHORT BOND | MRP | CLASS IB | 13 | (11) | 2 | 100 | (127) | (27) |  |  |  |  |  |  |  |
|  EQ/QUALITY BOND PLUS | RIA | CLASS IA |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  EQ/SMALL COMPANY INDEX | MRP | CLASS IB | 4 | (20) | (16) | 3 | (9) | (6) |  |  |  |  |  |  |  |
|  EQUITABLE CONSERVATIVE GROWTH MF/ETF | MRP | CLASS IB | 3 | (1) | 2 | 1 | (5) | (4) |  |  |  |  |  |  |  |
|  MULTIMANAGER CORE BOND | MRP | CLASS IB | 1 | (9) | (8) | 5 | (10) | (5) |  |  |  |  |  |  |  |
|  MULTIMANAGER TECHNOLOGY | RIA | CLASS IB |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  MULTIMANAGER TECHNOLOGY | MRP | CLASS IB | 2 | (9) | (7) | 6 | (18) | (12) |  |  |  |  |  |  |  |
|  TARGET 2015 ALLOCATION | MRP | CLASS IB |  | (2) | (2) |  | (3) | (3) |  |  |  |  |  |  |  |
|  TARGET 2025 ALLOCATION | MRP | CLASS IB |  | (14) | (14) | 1 | (8) | (7) |  |  |  |  |  |  |  |
|  TARGET 2035 ALLOCATION | MRP | CLASS IB |  | (1) | (1) |  | (2) | (2) |  |  |  |  |  |  |  |
|  TARGET 2045 ALLOCATION | MRP | CLASS IB |  | (4) | (4) |  | (4) | (4) |  |  |  |  |  |  |  |
|  TARGET 2055 ALLOCATION | MRP | CLASS IB |  | (1) | (1) |  |  |  |  |  |  |  |  |  |  |
|  VANGUARD VARIABLE INSURANCE FUND TOTAL BOND MARKET INDEX PORTFOLIO | MRP | COMMON SHARES | 162 | (60) | 102 | 86 | (103) | (17) |  |  |  |  |  |  |  |
|  VANGUARD VARIABLE INSURANCE FUND TOTAL STOCK MARKET INDEX PORTFOLIO | MRP | COMMON SHARES | 298 | (123) | 175 | 116 | (108) | 8 |  |  |  |  |  |  |  |

---

\*\* Share class reflects the share class of the Portfolio in which the units of the Variable Investment Option are invested, as further described in Note 6 of these financial statements.

The — on the Units Issued and Units Redeemed section may represent no units issued and units redeemed or units issued and units redeemed of less than 500.

**9**. Financial Highlights

Equitable Financial issues a number of registered group annuity contracts that allow employer plan assets to accumulate on a tax-deferred basis. The contracts are typically designed for employers wishing to fund defined benefit, defined contribution and/or 401(k) plans. Annuity contracts available through Equitable Financial are RIA, MRP, and EPP (collectively, the Plans). Assets of the Plans are invested in a number of investment Funds (available Funds vary by Plan).

Institutional units presented on the Statement of Assets and Liabilities reflect investments in the Funds by clients other than contractowners of group annuity contracts issued by Equitable Financial. Institutional unit values are determined at the end of each business day. Institutional unit values reflect the investment performance of the Funds for the day and charges and expenses deducted by the Funds. Contract unit values (RIA, MRP, and EPP) reflect the same investment results, prior to deduction for contract specific charges, earned by the Institutional units. Contract unit values reflect certain investment management and accounting fees, which vary by contract. These fees are charged as a percentage of net assets and are disclosed below for the Plans contracts as percentage of net assets attributable of such units.

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**9**. Financial Highlights (Continued)

Shown below is accumulation unit value information for units outstanding of Separate Accounts No. 10, 4, 3 and 66 for the periods indicated.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** |
|  |  | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Value**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*** | **Total<br>Return**<br>**Ratio\*\*** |
|  **SEPARATE ACCOUNT NO. 10** | **SEPARATE ACCOUNT NO. 10** | **SEPARATE ACCOUNT NO. 10** | **SEPARATE ACCOUNT NO. 10** | **SEPARATE ACCOUNT NO. 10** | **SEPARATE ACCOUNT NO. 10** |  |
|  **<u>AllianceBernstein Balanced Fund</u>** | **<u>AllianceBernstein Balanced Fund</u>** |  |  |  |  |  |
| December 31, 2025 | RIA\* - contract charge 0.50% (a) | 2 | $1177 | $651.86 | 0.87% | 16.66% |
| December 31, 2024 | RIA\* - contract charge 0.50% (a) | 2 | $1114 | $558.76 | 0.85% | 10.68% |
| December 31, 2023 | RIA\* - contract charge 0.50% (a) | 2 | $1023 | $504.85 | 0.79% | 15.97% |
| December 31, 2022 | RIA\* - contract charge 0.50% (a) | 2 | $892 | $435.33 | 0.84% | (15.54)% |
| December 31, 2021 | RIA\* - contract charge 0.50% (a) | 2 | $1091 | $515.45 | 1.03% | 12.34% |
| December 31, 2025 | MRP\* - contract charge 0.50% (a) | 96 | $14993 | $155.92 | 0.87% | 16.66% |
| December 31, 2024 | MRP\* - contract charge 0.50% (a) | 108 | $14501 | $133.65 | 0.85% | 10.67% |
| December 31, 2023 | MRP\* - contract charge 0.50% (a) | 131 | $15848 | $120.76 | 0.79% | 15.97% |
| December 31, 2022 | MRP\* - contract charge 0.50% (a) | 141 | $14643 | $104.13 | 0.84% | (15.56)% |
| December 31, 2021 | MRP\* - contract charge 0.50% (a) | 157 | $19356 | $123.32 | 1.03% | 12.33% |
| December 31, 2025 | EPP\* - contract charge 0.25% (a) | —(b) | $189 | $698.95 | 0.62% | 16.66% |
| December 31, 2024 | EPP\* - contract charge 0.25% (a) | —(b) | $168 | $599.14 | 0.60% | 10.68% |
| December 31, 2023 | EPP\* - contract charge 0.25% (a) | —(b) | $153 | $541.33 | 0.54% | 15.97% |
| December 31, 2022 | EPP\* - contract charge 0.25% (a) | —(b) | $132 | $466.79 | 0.59% | (15.50)% |
| December 31, 2021 | EPP\* - contract charge 0.25% (a) | —(b) | $153 | $552.39 | 0.78% | 12.62% |
|  **<u>Balanced Account</u>** | **<u>Balanced Account</u>** |  |  |  |  |  |
| December 31, 2025 | Institutional | —(b) | $2 | $76382.62 | 0.37% | 17.25% |
| December 31, 2024 | Institutional | —(b) | $2 | $65147.21 | 0.35% | 11.24% |
| December 31, 2023 | Institutional | —(b) | $2 | $58564.84 | 0.29% | 16.55% |
| December 31, 2022 | Institutional | —(b) | $16 | $50248.93 | 0.34% | (15.12)% |
| December 31, 2021 | Institutional | —(b) | $37 | $59199.76 | 0.53% | 12.90% |
|  **SEPARATE ACCOUNT NO. 4** | **SEPARATE ACCOUNT NO. 4** | **SEPARATE ACCOUNT NO. 4** | **SEPARATE ACCOUNT NO. 4** | **SEPARATE ACCOUNT NO. 4** | **SEPARATE ACCOUNT NO. 4** |  |
|  **<u>AllianceBernstein Common Stock Fund</u>** | **<u>AllianceBernstein Common Stock Fund</u>** |  |  |  |  |  |
| December 31, 2025 | RIA\* - contract charge 0.08% (a) | 1 | $6885 | $8225.76 | 0.15% | 18.39% |
| December 31, 2024 | RIA\* - contract charge 0.08% (a) | 1 | $6010 | $6948.18 | 0.16% | 32.81% |
| December 31, 2023 | RIA\* - contract charge 0.08% (a) | 1 | $4614 | $5231.70 | 0.19% | 42.34% |
| December 31, 2022 | RIA\* - contract charge 0.08% (a) | 1 | $3356 | $3675.50 | 0.20% | (29.12)% |
| December 31, 2021 | RIA\* - contract charge0.08% (a) | 1 | $5015 | $5185.85 | 0.15% | 27.47% |
| December 31, 2025 | EPP\* - contract charge 0.08% (a) | —(b) | $2441 | $8535.04 | 0.15% | 18.39% |
| December 31, 2024 | EPP\* - contract charge 0.08% (a) | —(b) | $2134 | $7209.42 | 0.16% | 32.81% |
| December 31, 2023 | EPP\* - contract charge 0.08% (a) | —(b) | $1623 | $5428.40 | 0.19% | 42.34% |
| December 31, 2022 | EPP\* - contract charge 0.08% (a) | —(b) | $1152 | $3813.70 | 0.20% | (29.12)% |
| December 31, 2021 | EPP\* - contract charge 0.08% (a) | —(b) | $2050 | $5380.83 | 0.15% | 27.47% |
|  **<u>AllianceBernstein Growth Equity Fund</u>** | **<u>AllianceBernstein Growth Equity Fund</u>** |  |  |  |  |  |
| December 31, 2025 | MRP\* - contract charge 0.30% (a) | 14 | $42124 | $3118.67 | 0.37% | 18.12% |
| December 31, 2024 | MRP\* - contract charge 0.30% (a) | 16 | $42919 | $2640.21 | 0.38% | 32.52% |
| December 31, 2023 | MRP\* - contract charge 0.30% (a) | 20 | $40210 | $1992.36 | 0.41% | 42.02% |
| December 31, 2022 | MRP\* - contract charge 0.30% (a) | 22 | $30357 | $1402.84 | 0.42% | (29.29)% |
| December 31, 2021 | MRP\* - contract charge 0.30% (a) | 25 | $49621 | $1984.06 | 0.37% | 27.19% |
|  **<u>Growth Stock Account</u>** | **<u>Growth Stock Account</u>** | **<u>Growth Stock Account</u>** | **<u>Growth Stock Account</u>** | **<u>Growth Stock Account</u>** | **<u>Growth Stock Account</u>** |  |
| December 31, 2025 | Institutional | 1 | $64789 | $89736.03 | 0.07% | 18.48% |
| December 31, 2024 | Institutional | 1 | $62389 | $75738.16 | 0.08% | 32.92% |
| December 31, 2023 | Institutional | 1 | $53182 | $56981.87 | 0.11% | 42.45% |
| December 31, 2022 | Institutional | 1 | $42801 | $40000.49 | 0.12% | (29.07)% |
| December 31, 2021 | Institutional | 1 | $67617 | $56392.53 | 0.07% | 27.57% |
|  **SEPARATE ACCOUNT NO. 3** | **SEPARATE ACCOUNT NO. 3** | **SEPARATE ACCOUNT NO. 3** | **SEPARATE ACCOUNT NO. 3** | **SEPARATE ACCOUNT NO. 3** |  |  |
|  **<u>AllianceBernstein Mid Cap Growth Fund</u>** | **<u>AllianceBernstein Mid Cap Growth Fund</u>** |  |  |  |  |  |
| December 31, 2025 | RIA\* - contract charge 0.50% (a) | 5 | $861 | $176.85 | 0.53% | 7.63% |
| December 31, 2024 | RIA\* - contract charge 0.50% (a) | 6 | $956 | $164.31 | 0.56% | 18.88% |
| December 31, 2023 | RIA\* - contract charge 0.50% (a) | 7 | $959 | $138.21 | 0.53% | 23.01% |
| December 31, 2022 | RIA\* - contract charge 0.50% (a) | 7 | $797 | $112.36 | 0.51% | (28.25)% |
| December 31, 2021 | RIA\* - contract charge 0.50% (a) | 7 | $1130 | $156.60 | 0.51% | 15.85% |
| December 31, 2025 | MRP\* - contract charge 0.65% (a) | 505 | $17956 | $35.56 | 0.68% | 7.46% |
| December 31, 2024 | MRP\* - contract charge 0.65% (a) | 614 | $20327 | $33.09 | 0.71% | 18.73% |
| December 31, 2023 | MRP\* - contract charge 0.65% (a) | 733 | $20420 | $27.87 | 0.68% | 22.83% |
| December 31, 2022 | MRP\* - contract charge 0.65% (a) | 763 | $17319 | $22.69 | 0.66% | (28.38)% |
| December 31, 2021 | MRP\* - contract charge 0.65% (a) | 815 | $25820 | $31.68 | 0.66% | 15.66% |

---

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**9**. Financial Highlights (Continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** |
|  |  | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*** | **Total<br>Return**<br>**Ratio\*\*** |
|  **<u>Mid Cap Growth Stock Account</u>** | **<u>Mid Cap Growth Stock Account</u>** |  |  |  |  |  |
| December 31, 2025 | Institutional | —(b) | $1492 | $20728.24 | 0.03% | 8.17% |
| December 31, 2024 | Institutional | —(b) | $1399 | $19162.10 | 0.06% | 19.49% |
| December 31, 2023 | Institutional | —(b) | $1283 | $16036.91 | 0.03% | 23.62% |
| December 31, 2022 | Institutional | —(b) | $1142 | $12972.98 | 0.01% | (27.89)% |
| December 31, 2021 | Institutional | —(b) | $1479 | $17989.76 | 0.01% | 16.44% |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** | |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** | **SEPARATE ACCOUNT NO. 66+** |
|  **<u>1290 Avantis<sup>®</sup> U.S. Large Cap Growth</u>** | **<u>1290 Avantis<sup>®</sup> U.S. Large Cap Growth</u>** |  |  |  |  |  |  |  |  |
| 2025 | MRP |  | 39 | $885 | $22.60 | 0.01% | 0.04% | 16.98% |  |
| 2024 | MRP |  | 46 | $895 | $19.32 | 0.02% | 0.08% | 30.10% |  |
| 2023 | MRP |  | 65 | $967 | $14.85 | 0.02% | 0.36% | 13.71% |  |
| 2022 | MRP |  | 22 | $282 | $13.06 | 0.02% | 1.60% | (13.91)% |  |
| 2021 | MRP |  | 22 | $333 | $15.17 | 0.02% | 1.15% | 19.17% |  |
|  **<u>1290 VT Equity Income</u>** | **<u>1290 VT Equity Income</u>** |  |  |  |  |  |  |  |  |
| 2025 | MRP |  | 54 | $1776 | $32.70 | 0.01% | 2.01% | 12.91% |  |
| 2024 | MRP |  | 66 | $1912 | $28.96 | 0.02% | 2.13% | 9.78% |  |
| 2023 | MRP |  | 69 | $1818 | $26.38 | 0.02% | 1.87% | 5.39% |  |
| 2022 | MRP |  | 97 | $2435 | $25.03 | 0.02% | 2.32% | 3.05% |  |
| 2021 | MRP |  | 39 | $947 | $24.29 | 0.02% | 1.45% | 26.38% |  |
|  **<u>1290 VT GAMCO Mergers & Acquisitions</u>** | **<u>1290 VT GAMCO Mergers & Acquisitions</u>** |  |  |  |  |  |  |  |  |
| 2025 | MRP |  | 7 | $133 | $19.78 | 0.01% | 2.94% | 15.88% |  |
| 2024 | MRP |  | 10 | $166 | $17.07 | 0.02% | 1.94% | 9.07% |  |
| 2023 | MRP |  | 9 | $145 | $15.65 | 0.02% | 1.91% | 9.52% |  |
| 2022 | MRP |  | 9 | $128 | $14.29 | 0.02% | 0.40% | (6.05)% |  |
| 2021 | MRP |  | 6 | $88 | $15.21 | 0.02% | 0.77% | 11.35% |  |
|  **<u>1290 VT GAMCO Small Company Value</u>** | **<u>1290 VT GAMCO Small Company Value</u>** |  |  |  |  |  |  |  |  |
| 2025 | MRP |  | 38 | $2469 | $64.62 | 0.01% | 0.55% | 12.81% |  |
| 2024 | MRP |  | 49 | $2797 | $57.28 | 0.02% | 0.55% | 11.57% |  |
| 2023 | MRP |  | 63 | $3212 | $51.34 | 0.02% | 0.64% | 21.03% |  |
| 2022 | MRP |  | 66 | $2790 | $42.42 | 0.02% | 0.52% | (10.69)% |  |
| 2021 | MRP |  | 71 | $3354 | $47.50 | 0.02% | 0.61% | 25.10% |  |
|  **<u>1290 VT Socially Responsible</u>** | **<u>1290 VT Socially Responsible</u>** |  |  |  |  |  |  |  |  |
| 2025 | RIA |  | —(b) | $— | $583.77 | 0.00% | 0.38% | 17.22% |  |
|  | MRP |  | 92 | $4501 | $49.07 | 0.01% | 0.38% | 17.20% |  |
| 2024 | RIA |  | —(b) | $— | $498.03 | 0.00% | 0.40% | 21.68% |  |
|  | MRP |  | 94 | $3956 | $41.87 | 0.02% | 0.40% | 21.64% |  |
| 2023 | RIA |  | —(b) | $— | $409.31 | 0.00% | 0.67% | 27.50% |  |
|  | MRP |  | 117 | $4032 | $34.42 | 0.02% | 0.67% | 27.48% |  |
| 2022 | RIA |  | —(b) | $— | $321.03 | 0.00% | 0.65% | (22.11)% |  |
|  | MRP |  | 145 | $3917 | $27.00 | 0.02% | 0.65% | (22.12)% |  |
| 2021 | RIA |  | —(b) | $— | $412.16 | 0.00% | 0.47% | 30.31% |  |
|  | MRP |  | 144 | $5005 | $34.67 | 0.02% | 0.47% | 30.29% |  |
|  **<u>American Funds IS<sup>®</sup> 2020 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2020 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2020 Target Date Fund</u>** |  |  |  |  |  |  |  |
| 2025 | MRP |  | 25 | $278 | $11.28 | 0.01% | 1.68% | 14.29% |  |
|  **<u>American Funds IS<sup>®</sup> 2025 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2025 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2025 Target Date Fund</u>** |  |  |  |  |  |  |  |
| 2025 | MRP |  | 123 | $1390 | $11.32 | 0.01% | 1.78% | 14.81% |  |
| 2024 | MRP |  | 5 | $51 | $9.86 | 0.02% | 6.31% | (1.99)% |  |
|  **<u>American Funds IS<sup>®</sup> 2030 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2030 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2030 Target Date Fund</u>** |  |  |  |  |  |  |  |
| 2025 | MRP |  | 267 | $3073 | $11.49 | 0.01% | 0.81% | 16.06% |  |
|  **<u>American Funds IS<sup>®</sup> 2035 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2035 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2035 Target Date Fund</u>** |  |  |  |  |  |  |  |
| 2025 | MRP |  | 102 | $1190 | $11.66 | 0.01% | 0.72% | 17.66% |  |
| 2024 | MRP |  | 0 | $1 | $9.91 | 0.02% | 3.31% | (1.69)% |  |
|  **<u>American Funds IS<sup>®</sup> 2040 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2040 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2040 Target Date Fund</u>** |  |  |  |  |  |  |  |
| 2025 | MRP |  | 160 | $1915 | $11.97 | 0.01% | 0.33% | 20.67% |  |

---

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**9**. Financial Highlights (Continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** | |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** | **<u>American Funds IS<sup>®</sup> 2045 Target Date Fund</u>** |
| 2025 | MRP |  | 211 | $2546 | $12.09 | 0.01% | 0.78% | 21.51% |  |
|  **<u>American Funds IS<sup>®</sup> 2050 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2050 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2050 Target Date Fund</u>** |  |  |  |  |  |  |  |
| 2025 | MRP |  | 122 | $1472 | $12.11 | 0.01% | 0.68% | 21.95% |  |
|  **<u>American Funds IS<sup>®</sup> 2055 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2055 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2055 Target Date Fund</u>** |  |  |  |  |  |  |  |
| 2025 | MRP |  | 85 | $1029 | $12.14 | 0.01% | 0.60% | 22.26% |  |
| 2024 | MRP |  | 2 | $19 | $9.93 | 0.02% | 1.39% | (1.59)% |  |
|  **<u>American Funds IS<sup>®</sup> 2060 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2060 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2060 Target Date Fund</u>** |  |  |  |  |  |  |  |
| 2025 | MRP |  | 1 | $17 | $11.98 | 0.01% | 0.31% | 20.89% |  |
| 2024 | MRP |  | 0 | $1 | $9.91 | 0.02% | 3.20% | (1.78)% |  |
|  **<u>American Funds IS<sup>®</sup> 2065 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2065 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2065 Target Date Fund</u>** |  |  |  |  |  |  |  |
| 2025 | MRP |  | 1 | $13 | $11.98 | 0.01% | 1.88% | 20.64% |  |
|  **<u>American Funds IS<sup>®</sup> 2070 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2070 Target Date Fund</u>** | **<u>American Funds IS<sup>®</sup> 2070 Target Date Fund</u>** |  |  |  |  |  |  |  |
| 2025 | MRP |  | 2 | $20 | $11.90 | 0.01% | 0.39% | 20.45% |  |
|  **<u>EQ/AB Small Cap Growth</u>** | **<u>EQ/AB Small Cap Growth</u>** | **<u>EQ/AB Small Cap Growth</u>** |  |  |  |  |  |  |  |
| 2025 | RIA |  | —(b) | $59 | $930.82 | 0.05% | 0.15% | 9.19% |  |
|  | MRP |  | 21 | $765 | $36.42 | 0.01% | 0.15% | 9.24% |  |
| 2024 | RIA |  | —(b) | $52 | $852.50 | 0.05% | 0.30% | 13.85% |  |
|  | MRP |  | 23 | $751 | $33.34 | 0.02% | 0.30% | 13.87% |  |
| 2023 | RIA |  | —(b) | $90 | $748.76 | 0.05% | 0.27% | 17.67% |  |
|  | MRP |  | 23 | $671 | $29.28 | 0.02% | 0.27% | 17.73% |  |
| 2022 | RIA |  | —(b) | $75 | $636.34 | 0.05% | 0.15% | (28.49)% |  |
|  | MRP |  | 30 | $743 | $24.87 | 0.02% | 0.15% | (28.47)% |  |
| 2021 | RIA |  | —(b) | $103 | $889.91 | 0.05% | 0.00% | 12.86% |  |
|  | MRP |  | 29 | $999 | $34.77 | 0.02% | 0.00% | 12.89% |  |
|  **<u>EQ/Aggressive Allocation</u>** | **<u>EQ/Aggressive Allocation</u>** | **<u>EQ/Aggressive Allocation</u>** |  |  |  |  |  |  |  |
| 2025 | MRP |  | 79 | $2320 | $29.40 | 0.01% | 1.45% | 12.95% |  |
| 2024 | MRP |  | 89 | $2315 | $26.03 | 0.02% | 2.00% | 13.72% |  |
| 2023 | MRP |  | 108 | $2464 | $22.89 | 0.02% | 1.42% | 18.42% |  |
| 2022 | MRP |  | 108 | $2081 | $19.33 | 0.02% | 0.91% | (18.37)% |  |
| 2021 | MRP |  | 97 | $2296 | $23.68 | 0.02% | 3.75% | 17.17% |  |
|  **<u>EQ/All Asset Growth Allocation</u>** | **<u>EQ/All Asset Growth Allocation</u>** | **<u>EQ/All Asset Growth Allocation</u>** |  |  |  |  |  |  |  |
| 2025 | MRP |  | 17 | $430 | $24.91 | 0.01% | 2.27% | 17.22% |  |
| 2024 | MRP |  | 18 | $385 | $21.25 | 0.02% | 2.47% | 11.14% |  |
| 2023 | MRP |  | 16 | $305 | $19.12 | 0.02% | 1.70% | 14.15% |  |
| 2022 | MRP |  | 22 | $376 | $16.75 | 0.02% | 1.39% | (14.50)% |  |
| 2021 | MRP |  | 20 | $395 | $19.59 | 0.02% | 4.21% | 10.93% |  |
|  **<u>EQ/Capital Group Research</u>** | **<u>EQ/Capital Group Research</u>** | **<u>EQ/Capital Group Research</u>** |  |  |  |  |  |  |  |
| 2025 | RIA |  | —(b) | $— | $976.99 | 0.00% | 0.44% | 19.83% |  |
|  | MRP |  | 86 | $10264 | $120.01 | 0.01% | 0.44% | 19.82% |  |
| 2024 | RIA |  | —(b) | $— | $815.31 | 0.00% | 1.51% | 29.87% |  |
|  | MRP |  | 94 | $9370 | $100.16 | 0.02% | 1.51% | 29.84% |  |
| 2023 | RIA |  | —(b) | $— | $627.79 | 0.00% | 0.35% | 22.99% |  |
|  | MRP |  | 117 | $9050 | $77.14 | 0.02% | 0.35% | 22.97% |  |
| 2022 | RIA |  | —(b) | $— | $510.46 | 0.00% | 0.17% | (18.98)% |  |
|  | MRP |  | 121 | $7574 | $62.73 | 0.02% | 0.17% | (19.00)% |  |
| 2021 | RIA |  | —(b) | $— | $630.03 | 0.00% | 0.00% | 23.06% |  |
|  | MRP |  | 126 | $9729 | $77.44 | 0.02% | 0.00% | 23.04% |  |
|  **<u>EQ/ClearBridge Large Cap Growth ESG</u>** | **<u>EQ/ClearBridge Large Cap Growth ESG</u>** | **<u>EQ/ClearBridge Large Cap Growth ESG</u>** |  |  |  |  |  |  |  |
| 2025 | RIA |  | —(b) | $5 | $755.98 | 0.00% | 0.00% | 7.69% |  |
|  | MRP |  | 13 | $691 | $51.54 | 0.01% | 0.00% | 7.67% |  |

---

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**9**. Financial Highlights (Continued)

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |  |  |  |  |  |  |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** |  |  |  |  |  |  |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** | **<u>EQ/ClearBridge Large Cap Growth ESG (Continued)</u>** | **<u>EQ/ClearBridge Large Cap Growth ESG (Continued)</u>** |  |  |  |  |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** | 2024 | RIA | —(b) | $2 | $702.01 | 0.00% | 26.75% |
|  | MRP |  | 15 | $715 | $47.87 | 0.02% | 0.00% | 26.74% |  |  |  |  |  |  |  |
| 2023 | RIA |  | —(b) | $119 | $553.84 | 0.00% | 0.00% | 45.88% |  |  |  |  |  |  |  |
|  | MRP |  | 42 | $1571 | $37.77 | 0.02% | 0.00% | 45.83% |  |  |  |  |  |  |  |
| 2022 | RIA |  | —(b) | $81 | $379.66 | 0.00% | 0.00% | (32.12)% |  |  |  |  |  |  |  |
|  | MRP |  | 35 | $918 | $25.90 | 0.02% | 0.00% | (32.13)% |  |  |  |  |  |  |  |
| 2021 | RIA |  | —(b) | $120 | $559.27 | 0.00% | 0.00% | 21.72% |  |  |  |  |  |  |  |
|  | MRP |  | 12 | $460 | $38.16 | 0.00% | 0.00% | 21.72% |  |  |  |  |  |  |  |
|  **<u>EQ/Conservative Allocation</u>** | **<u>EQ/Conservative Allocation</u>** | **<u>EQ/Conservative Allocation</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | MRP |  | 109 | $1793 | $16.43 | 0.01% | 2.45% | 7.46% |  |  |  |  |  |  |  |
| 2024 | MRP |  | 150 | $2296 | $15.29 | 0.02% | 3.09% | 4.65% |  |  |  |  |  |  |  |
| 2023 | MRP |  | 151 | $2213 | $14.61 | 0.02% | 2.44% | 7.90% |  |  |  |  |  |  |  |
| 2022 | MRP |  | 153 | $2076 | $13.54 | 0.02% | 1.48% | (12.59)% |  |  |  |  |  |  |  |
| 2021 | MRP |  | 149 | $2307 | $15.49 | 0.02% | 1.44% | 2.65% |  |  |  |  |  |  |  |
|  **<u>EQ/Conservative-Plus Allocation</u>** | **<u>EQ/Conservative-Plus Allocation</u>** | **<u>EQ/Conservative-Plus Allocation</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | MRP |  | 35 | $695 | $19.74 | 0.01% | 2.21% | 9.00% |  |  |  |  |  |  |  |
| 2024 | MRP |  | 42 | $766 | $18.11 | 0.02% | 2.81% | 7.03% |  |  |  |  |  |  |  |
| 2023 | MRP |  | 40 | $682 | $16.92 | 0.02% | 2.13% | 10.88% |  |  |  |  |  |  |  |
| 2022 | MRP |  | 38 | $576 | $15.26 | 0.02% | 1.39% | (14.56)% |  |  |  |  |  |  |  |
| 2021 | MRP |  | 31 | $561 | $17.86 | 0.02% | 2.11% | 6.69% |  |  |  |  |  |  |  |
|  **<u>EQ/Core Plus Bond</u>** | **<u>EQ/Core Plus Bond</u>** | **<u>EQ/Core Plus Bond</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | RIA |  | —(b) | $— | $275.14 | 0.05% | 5.48% | 8.40% |  |  |  |  |  |  |  |
|  | MRP |  | 80 | $992 | $12.47 | 0.01% | 5.48% | 8.62% |  |  |  |  |  |  |  |
| 2024 | RIA |  | —(b) | $— | $253.82 | 0.05% | 5.85% | (0.72)% |  |  |  |  |  |  |  |
|  | MRP |  | 77 | $880 | $11.48 | 0.02% | 5.85% | (0.69)% |  |  |  |  |  |  |  |
| 2023 | RIA |  | —(b) | $— | $255.67 | 0.05% | 2.45% | 4.47% |  |  |  |  |  |  |  |
|  | MRP |  | 68 | $784 | $11.56 | 0.02% | 2.45% | 4.52% |  |  |  |  |  |  |  |
| 2022 | RIA |  | —(b) | $— | $244.72 | 0.05% | 2.58% | (12.98)% |  |  |  |  |  |  |  |
|  | MRP |  | 77 | $847 | $11.06 | 0.02% | 2.58% | (12.98)% |  |  |  |  |  |  |  |
| 2021 | RIA |  | —(b) | $— | $281.22 | 0.05% | 1.34% | (1.73)% |  |  |  |  |  |  |  |
|  | MRP |  | 70 | $888 | $12.71 | 0.02% | 1.34% | (1.70)% |  |  |  |  |  |  |  |
|  **<u>EQ/Equity 500 Index</u>** | **<u>EQ/Equity 500 Index</u>** | **<u>EQ/Equity 500 Index</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | RIA |  | —(b) | $38 | $2286.84 | 0.05% | 0.71% | 17.18% |  |  |  |  |  |  |  |
|  | MRP |  | 550 | $31396 | $57.04 | 0.01% | 0.71% | 17.22% |  |  |  |  |  |  |  |
| 2024 | RIA |  | —(b) | $33 | $1951.59 | 0.05% | 0.89% | 24.25% |  |  |  |  |  |  |  |
|  | MRP |  | 611 | $29737 | $48.66 | 0.02% | 0.89% | 24.29% |  |  |  |  |  |  |  |
| 2023 | RIA |  | —(b) | $27 | $1570.67 | 0.05% | 1.13% | 25.51% |  |  |  |  |  |  |  |
|  | MRP |  | 635 | $24847 | $39.15 | 0.02% | 1.13% | 25.56% |  |  |  |  |  |  |  |
| 2022 | RIA |  | —(b) | $22 | $1251.42 | 0.05% | 1.05% | (18.58)% |  |  |  |  |  |  |  |
|  | MRP |  | 664 | $20691 | $31.18 | 0.02% | 1.05% | (18.55)% |  |  |  |  |  |  |  |
| 2021 | RIA |  | —(b) | $195 | $1536.97 | 0.05% | 0.78% | 27.91% |  |  |  |  |  |  |  |
|  | MRP |  | 688 | $26339 | $38.28 | 0.02% | 0.78% | 27.94% |  |  |  |  |  |  |  |
|  **<u>EQ/Global Equity Managed Volatility</u>** | **<u>EQ/Global Equity Managed Volatility</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | RIA |  | —(b) | $13 | $1262.47 | 0.00% | 0.84% | 19.13% |  |  |  |  |  |  |  |
|  | MRP |  | 35 | $1253 | $35.40 | 0.01% | 0.84% | 19.11% |  |  |  |  |  |  |  |
| 2024 | RIA |  | —(b) | $11 | $1059.70 | 0.00% | 1.04% | 12.62% |  |  |  |  |  |  |  |
|  | MRP |  | 38 | $1126 | $29.72 | 0.02% | 1.04% | 12.58% |  |  |  |  |  |  |  |
| 2023 | RIA |  | —(b) | $10 | $940.92 | 0.00% | 0.85% | 21.33% |  |  |  |  |  |  |  |
|  | MRP |  | 54 | $1434 | $26.40 | 0.02% | 0.85% | 21.32% |  |  |  |  |  |  |  |
| 2022 | RIA |  | —(b) | $8 | $775.49 | 0.00% | 0.35% | (20.94)% |  |  |  |  |  |  |  |
|  | MRP |  | 59 | $1292 | $21.76 | 0.02% | 0.35% | (20.96)% |  |  |  |  |  |  |  |
| 2021 | RIA |  | —(b) | $11 | $980.94 | 0.00% | 0.92% | 15.89% |  |  |  |  |  |  |  |
|  | MRP |  | 61 | $1688 | $27.53 | 0.02% | 0.92% | 15.87% |  |  |  |  |  |  |  |

---

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**9**. Financial Highlights (Continued)

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |  |  |  |  |  |  |  |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** |  |  |  |  |  |  |  |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** | **<u>EQ/Intermediate Government Bond</u>** | **<u>EQ/Intermediate Government Bond</u>** |  |  |  |  |  |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** | 2025 | RIA | —(b) | $— | $255.28 | 0.05% | 3.13% | 5.47% |
|  | MRP | 290 | $3984 | $13.74 | 0.01% | 3.13% | 5.53% |  |  |  |  |  |  |  |  |
| 2024 | RIA | —(b) | $— | $242.05 | 0.05% | 2.63% | 2.35% |  |  |  |  |  |  |  |  |
|  | MRP | 278 | $3624 | $13.02 | 0.02% | 2.63% | 2.44% |  |  |  |  |  |  |  |  |
| 2023 | RIA | —(b) | $— | $236.49 | 0.05% | 2.86% | 3.82% |  |  |  |  |  |  |  |  |
|  | MRP | 282 | $3587 | $12.71 | 0.02% | 2.86% | 3.84% |  |  |  |  |  |  |  |  |
| 2022 | RIA | —(b) | $— | $227.79 | 0.05% | 0.97% | (7.69)% |  |  |  |  |  |  |  |  |
|  | MRP | 274 | $3350 | $12.24 | 0.02% | 0.97% | (7.69)% |  |  |  |  |  |  |  |  |
| 2021 | RIA | —(b) | $— | $246.76 | 0.05% | 0.73% | (2.18)% |  |  |  |  |  |  |  |  |
|  | MRP | 265 | $3510 | $13.26 | 0.02% | 0.73% | (2.14)% |  |  |  |  |  |  |  |  |
|  **<u>EQ/International Core Managed Volatility</u>** | **<u>EQ/International Core Managed Volatility</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | RIA | —(b) | $— | $289.39 | 0.00% | 1.39% | 26.06% |  |  |  |  |  |  |  |  |
|  | MRP | 71 | $1837 | $25.95 | 0.01% | 1.39% | 26.09% |  |  |  |  |  |  |  |  |
| 2024 | RIA | —(b) | $— | $229.57 | 0.00% | 2.09% | 3.28% |  |  |  |  |  |  |  |  |
|  | MRP | 72 | $1482 | $20.58 | 0.02% | 2.09% | 3.26% |  |  |  |  |  |  |  |  |
| 2023 | RIA | —(b) | $— | $222.27 | 0.00% | 1.80% | 16.78% |  |  |  |  |  |  |  |  |
|  | MRP | 82 | $1629 | $19.93 | 0.02% | 1.80% | 16.75% |  |  |  |  |  |  |  |  |
| 2022 | RIA | —(b) | $— | $190.33 | 0.00% | 1.24% | (14.12)% |  |  |  |  |  |  |  |  |
|  | MRP | 83 | $1420 | $17.07 | 0.02% | 1.24% | (14.13)% |  |  |  |  |  |  |  |  |
| 2021 | RIA | —(b) | $2 | $221.63 | 0.00% | 2.22% | 10.03% |  |  |  |  |  |  |  |  |
|  | MRP | 79 | $1573 | $19.88 | 0.02% | 2.22% | 10.02% |  |  |  |  |  |  |  |  |
|  **<u>EQ/International Equity Index</u>** | **<u>EQ/International Equity Index</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | RIA | 1 | $232 | $375.78 | 0.05% | 3.42% | 31.42% |  |  |  |  |  |  |  |  |
|  | MRP | 190 | $8053 | $42.40 | 0.01% | 3.42% | 31.47% |  |  |  |  |  |  |  |  |
| 2024 | RIA | 1 | $178 | $285.94 | 0.05% | 2.85% | 4.81% |  |  |  |  |  |  |  |  |
|  | MRP | 208 | $6702 | $32.25 | 0.02% | 2.85% | 4.84% |  |  |  |  |  |  |  |  |
| 2023 | RIA | 1 | $202 | $272.81 | 0.05% | 2.84% | 19.00% |  |  |  |  |  |  |  |  |
|  | MRP | 229 | $7043 | $30.76 | 0.02% | 2.84% | 19.04% |  |  |  |  |  |  |  |  |
| 2022 | RIA | 1 | $171 | $229.25 | 0.05% | 2.38% | (11.95)% |  |  |  |  |  |  |  |  |
|  | MRP | 245 | $6342 | $25.84 | 0.02% | 2.38% | (11.93)% |  |  |  |  |  |  |  |  |
| 2021 | RIA | 1 | $249 | $260.37 | 0.05% | 3.15% | 10.89% |  |  |  |  |  |  |  |  |
|  | MRP | 281 | $8233 | $29.34 | 0.02% | 3.15% | 10.93% |  |  |  |  |  |  |  |  |
|  **<u>EQ/Janus Enterprise</u>** | **<u>EQ/Janus Enterprise</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | MRP | 24 | $867 | $35.99 | 0.01% | 0.00% | 8.05% |  |  |  |  |  |  |  |  |
| 2024 | MRP | 29 | $962 | $33.31 | 0.02% | 0.01% | 14.11% |  |  |  |  |  |  |  |  |
| 2023 | MRP | 37 | $1088 | $29.19 | 0.02% | 0.04% | 16.99% |  |  |  |  |  |  |  |  |
| 2022 | MRP | 26 | $652 | $24.95 | 0.02% | 0.00% | (16.58)% |  |  |  |  |  |  |  |  |
| 2021 | MRP | 26 | $782 | $29.91 | 0.02% | 0.09% | 16.79% |  |  |  |  |  |  |  |  |
|  **<u>EQ/JPMorgan Growth Stock</u>** | **<u>EQ/JPMorgan Growth Stock</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | RIA | —(b) | $— | $69.33 | 0.00% | 0.00% | 14.75% |  |  |  |  |  |  |  |  |
|  | MRP | 27 | $1606 | $60.03 | 0.01% | 0.00% | 14.74% |  |  |  |  |  |  |  |  |
| 2024 | RIA | —(b) | $— | $60.42 | 0.00% | 0.00% | 33.79% |  |  |  |  |  |  |  |  |
|  | MRP | 30 | $1558 | $52.32 | 0.02% | 0.00% | 33.74% |  |  |  |  |  |  |  |  |
| 2023 | RIA | —(b) | $— | $45.16 | 0.00% | 0.00% | 46.34% |  |  |  |  |  |  |  |  |
|  | MRP | 38 | $1489 | $39.12 | 0.02% | 0.00% | 46.30% |  |  |  |  |  |  |  |  |
| 2022 | RIA | —(b) | $— | $30.86 | 0.00% | 0.00% | (38.65)% |  |  |  |  |  |  |  |  |
|  | MRP | 41 | $1084 | $26.74 | 0.02% | 0.00% | (38.64)% |  |  |  |  |  |  |  |  |
| 2021 | RIA | —(b) | $— | $50.30 | 0.00% | 0.00% | 13.83% |  |  |  |  |  |  |  |  |
|  | MRP | 43 | $1857 | $43.58 | 0.02% | 0.00% | 13.79% |  |  |  |  |  |  |  |  |
|  **<u>EQ/JPMorgan Value Opportunities</u>** | **<u>EQ/JPMorgan Value Opportunities</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | RIA | —(b) | $113 | $734.00 | 0.00% | 1.10% | 15.41% |  |  |  |  |  |  |  |  |
| 2024 | RIA | —(b) | $96 | $636.01 | 0.00% | 1.14% | 15.43% |  |  |  |  |  |  |  |  |
| 2023 | RIA | —(b) | $98 | $551.01 | 0.00% | 1.45% | 10.92% |  |  |  |  |  |  |  |  |

---

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**9**. Financial Highlights (Continued)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |  |  |  |  |  |  |  |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** |  |  |  |  |  |  |  |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** | **<u>EQ/JPMorgan Value Opportunities (Continued)</u>** | **<u>EQ/JPMorgan Value Opportunities (Continued)</u>** |  |  |  |  |  |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** | 2022 | RIA | —(b) | $87 | $496.77 | 0.00% | 1.07% | 0.23% |
| 2021 | RIA |  | —(b) | $86 | $495.64 | 0.00% | 0.70% | 23.20% |  |  |  |  |  |  |  |  |
|  **<u>EQ/Large Cap Growth Index</u>** | **<u>EQ/Large Cap Growth Index</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | RIA |  | —(b) | $— | $765.51 | 0.00% | 0.00% | 17.73% |  |  |  |  |  |  |  |  |
|  | MRP |  | 229 | $17001 | $74.33 | 0.01% | 0.00% | 17.72% |  |  |  |  |  |  |  |  |
| 2024 | RIA |  | —(b) | $— | $650.20 | 0.00% | 0.05% | 32.33% |  |  |  |  |  |  |  |  |
|  | MRP |  | 242 | $15290 | $63.14 | 0.02% | 0.05% | 32.29% |  |  |  |  |  |  |  |  |
| 2023 | RIA |  | —(b) | $— | $491.36 | 0.00% | 0.25% | 41.58% |  |  |  |  |  |  |  |  |
|  | MRP |  | 196 | $9376 | $47.73 | 0.02% | 0.25% | 41.55% |  |  |  |  |  |  |  |  |
| 2022 | RIA |  | —(b) | $— | $347.06 | 0.00% | 0.24% | (29.55)% |  |  |  |  |  |  |  |  |
|  | MRP |  | 198 | $6667 | $33.72 | 0.02% | 0.24% | (29.54)% |  |  |  |  |  |  |  |  |
| 2021 | RIA |  | —(b) | $— | $492.62 | 0.00% | 0.05% | 26.73% |  |  |  |  |  |  |  |  |
|  | MRP |  | 205 | $9812 | $47.86 | 0.02% | 0.05% | 26.68% |  |  |  |  |  |  |  |  |
|  **<u>EQ/Large Cap Growth Managed Volatility</u>** | **<u>EQ/Large Cap Growth Managed Volatility</u>** | **<u>EQ/Large Cap Growth Managed Volatility</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | RIA |  | —(b) | $181 | $984.79 | 0.00% | 0.09% | 11.07% |  |  |  |  |  |  |  |  |
|  | MRP |  | 89 | $3667 | $40.99 | 0.01% | 0.09% | 11.05% |  |  |  |  |  |  |  |  |
| 2024 | RIA |  | —(b) | $165 | $886.67 | 0.00% | 0.34% | 30.11% |  |  |  |  |  |  |  |  |
|  | MRP |  | 113 | $4178 | $36.91 | 0.02% | 0.34% | 30.10% |  |  |  |  |  |  |  |  |
| 2023 | RIA |  | —(b) | $32 | $681.46 | 0.00% | 0.41% | 38.98% |  |  |  |  |  |  |  |  |
|  | MRP |  | 125 | $3538 | $28.37 | 0.02% | 0.41% | 38.93% |  |  |  |  |  |  |  |  |
| 2022 | RIA |  | —(b) | $23 | $490.33 | 0.00% | 0.07% | (30.59)% |  |  |  |  |  |  |  |  |
|  | MRP |  | 132 | $2700 | $20.42 | 0.02% | 0.07% | (30.59)% |  |  |  |  |  |  |  |  |
| 2021 | RIA |  | —(b) | $34 | $706.41 | 0.00% | 0.00% | 24.38% |  |  |  |  |  |  |  |  |
|  | MRP |  | 127 | $3727 | $29.42 | 0.02% | 0.00% | 24.34% |  |  |  |  |  |  |  |  |
|  **<u>EQ/Large Cap Value Managed Volatility</u>** | **<u>EQ/Large Cap Value Managed Volatility</u>** | **<u>EQ/Large Cap Value Managed Volatility</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | RIA |  | —(b) | $162 | $461.61 | 0.00% | 1.32% | 10.63% |  |  |  |  |  |  |  |  |
|  | MRP |  | 145 | $6194 | $42.77 | 0.01% | 1.32% | 10.60% |  |  |  |  |  |  |  |  |
| 2024 | RIA |  | —(b) | $148 | $417.24 | 0.00% | 1.27% | 14.13% |  |  |  |  |  |  |  |  |
|  | MRP |  | 168 | $6514 | $38.67 | 0.02% | 1.27% | 14.14% |  |  |  |  |  |  |  |  |
| 2023 | RIA |  | —(b) | $135 | $365.57 | 0.00% | 1.67% | 13.97% |  |  |  |  |  |  |  |  |
|  | MRP |  | 248 | $8388 | $33.88 | 0.02% | 1.67% | 13.96% |  |  |  |  |  |  |  |  |
| 2022 | RIA |  | —(b) | $121 | $320.76 | 0.00% | 1.28% | (11.60)% |  |  |  |  |  |  |  |  |
|  | MRP |  | 248 | $7366 | $29.73 | 0.02% | 1.28% | (11.62)% |  |  |  |  |  |  |  |  |
| 2021 | RIA |  | —(b) | $139 | $362.84 | 0.00% | 0.98% | 24.83% |  |  |  |  |  |  |  |  |
|  | MRP |  | 266 | $8950 | $33.64 | 0.02% | 0.98% | 24.78% |  |  |  |  |  |  |  |  |
| **<u>EQ/MFS International Growth</u>** | **<u>EQ/MFS International Growth</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | MRP |  | 71 | $2002 | $28.09 | 0.01% | 1.09% | 20.92% |  |  |  |  |  |  |  |  |
| 2024 | MRP |  | 52 | $1200 | $23.23 | 0.02% | 0.76% | 8.75% |  |  |  |  |  |  |  |  |
| 2023 | MRP |  | 52 | $1113 | $21.36 | 0.02% | 1.20% | 14.35% |  |  |  |  |  |  |  |  |
| 2022 | MRP |  | 60 | $1124 | $18.68 | 0.02% | 0.87% | (15.17)% |  |  |  |  |  |  |  |  |
| 2021 | MRP |  | 71 | $1558 | $22.02 | 0.02% | 0.24% | 9.39% |  |  |  |  |  |  |  |  |
| **<u>EQ/Mid Cap Index</u>** | **<u>EQ/Mid Cap Index</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | RIA |  | —(b) | $53 | $546.97 | 0.00% | 0.72% | 6.83% |  |  |  |  |  |  |  |  |
|  | MRP |  | 22 | $807 | $37.25 | 0.01% | 0.72% | 6.83% |  |  |  |  |  |  |  |  |
| 2024 | RIA |  | —(b) | $50 | $511.98 | 0.00% | 0.93% | 13.19% |  |  |  |  |  |  |  |  |
|  | MRP |  | 26 | $905 | $34.87 | 0.02% | 0.93% | 13.18% |  |  |  |  |  |  |  |  |
| 2023 | RIA |  | —(b) | $7 | $452.31 | 0.00% | 1.03% | 15.75% |  |  |  |  |  |  |  |  |
|  | MRP |  | 28 | $860 | $30.81 | 0.02% | 1.03% | 15.70% |  |  |  |  |  |  |  |  |
| 2022 | RIA |  | —(b) | $6 | $390.76 | 0.00% | 0.90% | (13.61)% |  |  |  |  |  |  |  |  |
|  | MRP |  | 33 | $869 | $26.63 | 0.02% | 0.90% | (13.62)% |  |  |  |  |  |  |  |  |
| 2021 | RIA |  | —(b) | $7 | $452.31 | 0.00% | 0.63% | 23.88% |  |  |  |  |  |  |  |  |
|  | MRP |  | 41 | $1273 | $30.83 | 0.02% | 0.63% | 23.87% |  |  |  |  |  |  |  |  |

---

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**9**. Financial Highlights (Continued)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** | |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** | **<u>EQ/Mid Cap Value Managed Volatility</u>** |
| 2025 | RIA | —(b) | $142 | $652.48 | 0.00% | 1.12% | 4.96% |  |
|  | MRP | 66 | $3374 | $51.31 | 0.01% | 1.12% | 4.93% |  |
| 2024 | RIA | —(b) | $137 | $621.67 | 0.00% | 1.33% | 11.67% |  |
|  | MRP | 77 | $3758 | $48.90 | 0.02% | 1.33% | 11.64% |  |
| 2023 | RIA | —(b) | $123 | $556.72 | 0.00% | 1.38% | 13.19% |  |
|  | MRP | 87 | $3792 | $43.80 | 0.02% | 1.38% | 13.18% |  |
| 2022 | RIA | —(b) | $110 | $491.83 | 0.00% | 0.91% | (14.57)% |  |
|  | MRP | 110 | $4268 | $38.70 | 0.02% | 0.91% | (14.59)% |  |
| 2021 | RIA | —(b) | $136 | $575.71 | 0.00% | 0.54% | 27.40% |  |
|  | MRP | 118 | $5336 | $45.31 | 0.02% | 0.54% | 27.38% |  |
| **<u>EQ/Moderate Allocation</u>** | **<u>EQ/Moderate Allocation</u>** |  |  |  |  |  |  |  |
| 2025 | MRP | 1416 | $29690 | $20.97 | 0.01% | 2.33% | 10.19% |  |
| 2024 | MRP | 1519 | $28913 | $19.03 | 0.02% | 2.67% | 7.88% |  |
| 2023 | MRP | 1607 | $28337 | $17.64 | 0.02% | 1.97% | 12.36% |  |
| 2022 | MRP | 1639 | $25725 | $15.70 | 0.02% | 1.22% | (15.50)% |  |
| 2021 | MRP | 1803 | $33495 | $18.58 | 0.02% | 2.65% | 8.40% |  |
| **<u>EQ/Moderate-Plus Allocation</u>** | **<u>EQ/Moderate-Plus Allocation</u>** |  |  |  |  |  |  |  |
| 2025 | MRP | 108 | $2709 | $25.14 | 0.01% | 1.93% | 11.49% |  |
| 2024 | MRP | 116 | $2610 | $22.55 | 0.02% | 2.38% | 10.76% |  |
| 2023 | MRP | 128 | $2609 | $20.36 | 0.02% | 1.78% | 15.29% |  |
| 2022 | MRP | 119 | $2094 | $17.66 | 0.02% | 1.00% | (17.05)% |  |
| 2021 | MRP | 124 | $2633 | $21.29 | 0.02% | 3.18% | 12.65% |  |
| **<u>EQ/Money Market</u>** | **<u>EQ/Money Market</u>** |  |  |  |  |  |  |  |
| 2025 | RIA | —(b) | $— | $206.48 | 0.05% | 3.59% | 3.54% |  |
|  | MRP | 1172 | $13869 | $11.84 | 0.01% | 3.59% | 3.68% |  |
| 2024 | RIA | —(b) | $— | $199.42 | 0.05% | 4.51% | 4.63% |  |
|  | MRP | 1251 | $14284 | $11.42 | 0.02% | 4.51% | 4.67% |  |
| 2023 | RIA | —(b) | $— | $190.59 | 0.05% | 4.33% | 4.40% |  |
|  | MRP | 1034 | $11280 | $10.91 | 0.02% | 4.33% | 4.40% |  |
| 2022 | RIA | —(b) | $— | $182.55 | 0.05% | 1.06% | 1.04% |  |
|  | MRP | 1237 | $12924 | $10.45 | 0.02% | 1.06% | 1.06% |  |
| 2021 | RIA | —(b) | $— | $180.67 | 0.05% | 0.00% | 0.13% |  |
|  | MRP | 1278 | $13209 | $10.34 | 0.02% | 0.00% | 0.19% |  |
| **<u>EQ/PIMCO Global Real Return</u>** | **<u>EQ/PIMCO Global Real Return</u>** |  |  |  |  |  |  |  |
| 2025 | MRP | 56 | $650 | $11.54 | 0.01% | 1.41% | 5.68% |  |
| 2024 | MRP | 56 | $606 | $10.92 | 0.02% | 0.73% | 0.00% |  |
| 2023 | MRP | 58 | $636 | $10.92 | 0.02% | 1.66% | 4.30% |  |
| 2022 | MRP | 57 | $596 | $10.47 | 0.02% | 10.67% | (15.90)% |  |
| 2021 | MRP | 44 | $548 | $12.45 | 0.02% | 10.20% | 4.18% |  |
| **<u>EQ/PIMCO Ultra Short Bond</u>** | **<u>EQ/PIMCO Ultra Short Bond</u>** |  |  |  |  |  |  |  |
| 2025 | MRP | 83 | $1230 | $14.77 | 0.01% | 4.11% | 4.53% |  |
| 2024 | MRP | 81 | $1149 | $14.13 | 0.02% | 5.09% | 5.76% |  |
| 2023 | MRP | 108 | $1438 | $13.36 | 0.02% | 3.40% | 5.61% |  |
| 2022 | MRP | 133 | $1678 | $12.65 | 0.02% | 1.56% | (0.63)% |  |
| 2021 | MRP | 114 | $1450 | $12.73 | 0.02% | 0.36% | (0.47)% |  |
| **<u>EQ/Quality Bond PLUS</u>** | **<u>EQ/Quality Bond PLUS</u>** |  |  |  |  |  |  |  |
| 2025 | RIA | —(b) | $40 | $280.37 | 0.05% | 3.62% | 6.27% |  |
| 2024 | RIA | —(b) | $35 | $263.83 | 0.05% | 3.84% | 1.72% |  |
| 2023 | RIA | —(b) | $11 | $259.36 | 0.05% | 2.39% | 4.17% |  |
| 2022 | RIA | —(b) | $9 | $248.98 | 0.05% | 0.75% | (10.25)% |  |
| 2021 | RIA | —(b) | $7 | $277.43 | 0.05% | 0.10% | (2.17)% |  |

---

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**9**. Financial Highlights (Continued)

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |  |  |  |  |  |  |  |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** |  |  |  |  |  |  |  |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** | **<u>EQ/Small Company Index</u>** | **<u>EQ/Small Company Index</u>** |  |  |  |  |  |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** | 2025 | MRP | 59.0 | $3456 | $58.68 | 0.01% | 0.78% | 12.59% |
| 2024 | MRP | 75 | $3898 | $52.12 | 0.02% | 1.27% | 11.08% |  |  |  |  |  |  |  |  |
| 2023 | MRP | 81 | $3809 | $46.92 | 0.02% | 1.16% | 16.80% |  |  |  |  |  |  |  |  |
| 2022 | MRP | 87 | $3480 | $40.17 | 0.02% | 0.87% | (19.84)% |  |  |  |  |  |  |  |  |
| 2021 | MRP | 98 | $4920 | $50.11 | 0.02% | 0.59% | 15.04% |  |  |  |  |  |  |  |  |
| **<u>Equitable Conservative Growth MF/ETF</u>** | **<u>Equitable Conservative Growth MF/ETF</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | MRP | 10 | $206 | $21.26 | 0.01% | 4.40% | 12.01% |  |  |  |  |  |  |  |  |
| 2024 | MRP | 8 | $160 | $18.98 | 0.02% | 2.49% | 7.23% |  |  |  |  |  |  |  |  |
| 2023 | MRP | 12 | $209 | $17.70 | 0.02% | 2.88% | 9.87% |  |  |  |  |  |  |  |  |
| 2022 | MRP | 11 | $184 | $16.11 | 0.02% | 1.82% | (12.45)% |  |  |  |  |  |  |  |  |
| 2021 | MRP | 10 | $189 | $18.40 | 0.02% | 0.64% | 10.05% |  |  |  |  |  |  |  |  |
| **<u>Multimanager Core Bond</u>** | **<u>Multimanager Core Bond</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | MRP | 16 | $196 | $12.03 | 0.01% | 3.48% | 7.12% |  |  |  |  |  |  |  |  |
| 2024 | MRP | 24 | $264 | $11.23 | 0.02% | 3.50% | 1.91% |  |  |  |  |  |  |  |  |
| 2023 | MRP | 29 | $323 | $11.02 | 0.02% | 2.83% | 5.05% |  |  |  |  |  |  |  |  |
| 2022 | MRP | 43 | $449 | $10.49 | 0.02% | 2.26% | (12.73)% |  |  |  |  |  |  |  |  |
| 2021 | MRP | 64 | $774 | $12.02 | 0.02% | 1.39% | (1.48)% |  |  |  |  |  |  |  |  |
| **<u>Multimanager Technology</u>** | **<u>Multimanager Technology</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | RIA | —(b) | $— | $1587.63 | 0.00% | 0.00% | 25.89% |  |  |  |  |  |  |  |  |
|  | MRP | 69 | $10403 | $150.26 | 0.01% | 0.00% | 25.87% |  |  |  |  |  |  |  |  |
| 2024 | RIA | —(b) | $— | $1261.12 | 0.00% | 0.00% | 26.09% |  |  |  |  |  |  |  |  |
|  | MRP | 76 | $9127 | $119.38 | 0.02% | 0.00% | 26.07% |  |  |  |  |  |  |  |  |
| 2023 | RIA | —(b) | $— | $1000.18 | 0.00% | 0.00% | 49.54% |  |  |  |  |  |  |  |  |
|  | MRP | 88 | $8327 | $94.69 | 0.02% | 0.00% | 49.52% |  |  |  |  |  |  |  |  |
| 2022 | RIA | —(b) | $— | $668.82 | 0.00% | 0.00% | (37.30)% |  |  |  |  |  |  |  |  |
|  | MRP | 92 | $5854 | $63.33 | 0.02% | 0.00% | (37.31)% |  |  |  |  |  |  |  |  |
| 2021 | RIA | —(b) | $— | $1066.64 | 0.00% | 0.00% | 20.82% |  |  |  |  |  |  |  |  |
|  | MRP | 100 | $10146 | $101.02 | 0.02% | 0.00% | 20.81% |  |  |  |  |  |  |  |  |
| **<u>Target 2015 Allocation</u>** | **<u>Target 2015 Allocation</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | MRP | 29 | $550 | $18.91 | 0.01% | 3.77% | 9.50% |  |  |  |  |  |  |  |  |
| 2024 | MRP | 31 | $540 | $17.27 | 0.02% | 3.50% | 4.73% |  |  |  |  |  |  |  |  |
| 2023 | MRP | 34 | $560 | $16.49 | 0.02% | 2.44% | 9.93% |  |  |  |  |  |  |  |  |
| 2022 | MRP | 35 | $524 | $15.00 | 0.02% | 1.93% | (14.19)% |  |  |  |  |  |  |  |  |
| 2021 | MRP | 36 | $630 | $17.48 | 0.02% | 1.31% | 6.26% |  |  |  |  |  |  |  |  |
| **<u>Target 2025 Allocation</u>** | **<u>Target 2025 Allocation</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | MRP | 48 | $1164 | $24.12 | 0.01% | 2.34% | 13.08% |  |  |  |  |  |  |  |  |
| 2024 | MRP | 62 | $1315 | $21.33 | 0.02% | 2.41% | 8.66% |  |  |  |  |  |  |  |  |
| 2023 | MRP | 69 | $1362 | $19.63 | 0.02% | 1.98% | 13.60% |  |  |  |  |  |  |  |  |
| 2022 | MRP | 74 | $1274 | $17.28 | 0.02% | 1.41% | (15.25)% |  |  |  |  |  |  |  |  |
| 2021 | MRP | 88 | $1786 | $20.39 | 0.02% | 1.72% | 10.76% |  |  |  |  |  |  |  |  |
| **<u>Target 2035 Allocation</u>** | **<u>Target 2035 Allocation</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | MRP | 38 | $1055 | $28.11 | 0.01% | 2.20% | 15.68% |  |  |  |  |  |  |  |  |
| 2024 | MRP | 39 | $951 | $24.30 | 0.02% | 2.06% | 11.47% |  |  |  |  |  |  |  |  |
| 2023 | MRP | 41 | $885 | $21.80 | 0.02% | 1.66% | 16.52% |  |  |  |  |  |  |  |  |
| 2022 | MRP | 45 | $838 | $18.71 | 0.02% | 1.31% | (16.29)% |  |  |  |  |  |  |  |  |
| 2021 | MRP | 50 | $1110 | $22.35 | 0.02% | 1.69% | 14.03% |  |  |  |  |  |  |  |  |
| **<u>Target 2045 Allocation</u>** | **<u>Target 2045 Allocation</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | MRP | 77 | $2338 | $30.34 | 0.01% | 1.84% | 16.78% |  |  |  |  |  |  |  |  |
| 2024 | MRP | 81 | $2113 | $25.98 | 0.02% | 1.75% | 12.96% |  |  |  |  |  |  |  |  |
| 2023 | MRP | 85 | $1948 | $23.00 | 0.02% | 1.52% | 18.07% |  |  |  |  |  |  |  |  |
| 2022 | MRP | 91 | $1768 | $19.48 | 0.02% | 1.23% | (16.79)% |  |  |  |  |  |  |  |  |
| 2021 | MRP | 95 | $2233 | $23.41 | 0.02% | 1.83% | 16.29% |  |  |  |  |  |  |  |  |

---

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Continued)** 

**December 31, 2025** 

**9**. Financial Highlights (Concluded)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **At the year ended** | **At the year ended** | **At the year ended** | **At the year ended** | **For the year ended** | **For the year ended** | **For the year ended** |  |  |  |  |  |  |  |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** |  |  |  |  |  |  |  |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** | **<u>Target 2055 Allocation</u>** | **<u>Target 2055 Allocation</u>** |  |  |  |  |  |  |
| | | **Units**<br>**Outstanding**<br>**(000's)** | **Accumulation**<br>**Unit Values**<br>**(000's)** | **Unit<br>Value** | **Unit<br>Value** | **Expense<br>Ratio\*\*\*** | **Investment**<br>**Income Ratio** | **Total<br>Return**<br>**Ratio\*\*** | 2025 | MRP | 1 | $35 | $25.69 | 0.01% | 1.35% | 17.90% |
| 2024 | MRP | 2 | $38 |  | $21.79 | 0.02% | 1.39% | 14.26% |  |  |  |  |  |  |  |  |
| 2023 | MRP | 2 | $35 |  | $19.07 | 0.02% | 1.02% | 19.86% |  |  |  |  |  |  |  |  |
| 2022 | MRP | 4 | $57 |  | $15.91 | 0.02% | 0.51% | (17.61)% |  |  |  |  |  |  |  |  |
| 2021 | MRP | 9 | $166 |  | $19.31 | 0.02% | 1.80% | 18.25% |  |  |  |  |  |  |  |  |
| <u>**Vanguard Variable Insurance Fund Total Bond Market Index Portfolio**</u> | <u>**Vanguard Variable Insurance Fund Total Bond Market Index Portfolio**</u> | <u>**Vanguard Variable Insurance Fund Total Bond Market Index Portfolio**</u> | <u>**Vanguard Variable Insurance Fund Total Bond Market Index Portfolio**</u> | <u> </u> |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | MRP | 330 | $3845 |  | $11.63 | 0.01% | 3.52% | 6.89% |  |  |  |  |  |  |  |  |
| 2024 | MRP | 228 | $2481 |  | $10.88 | 0.02% | 2.81% | 1.21% |  |  |  |  |  |  |  |  |
| 2023 | MRP | 245 | $2635 |  | $10.75 | 0.02% | 2.47% | 5.60% |  |  |  |  |  |  |  |  |
| 2022 | MRP | 242 | $2462 |  | $10.18 | 0.02% | 2.12% | (13.29)% |  |  |  |  |  |  |  |  |
| 2021 | MRP | 292 | $3426 |  | $11.74 | 0.02% | 2.03% | (1.68)% |  |  |  |  |  |  |  |  |
| <u>**Vanguard Variable Insurance Fund Total Stock Market Index Portfolio**</u> | <u>**Vanguard Variable Insurance Fund Total Stock Market Index Portfolio**</u> | <u>**Vanguard Variable Insurance Fund Total Stock Market Index Portfolio**</u> | <u>**Vanguard Variable Insurance Fund Total Stock Market Index Portfolio**</u> | <u> </u> |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025 | MRP | 553 | $15287 |  | $27.66 | 0.01% | 1.10% | 16.91% |  |  |  |  |  |  |  |  |
| 2024 | MRP | 378 | $8951 |  | $23.66 | 0.02% | 1.24% | 23.74% |  |  |  |  |  |  |  |  |
| 2023 | MRP | 370 | $7068 |  | $19.12 | 0.02% | 1.13% | 25.87% |  |  |  |  |  |  |  |  |
| 2022 | MRP | 360 | $5472 |  | $15.19 | 0.02% | 1.37% | (19.59)% |  |  |  |  |  |  |  |  |
| 2021 | MRP | 324 | $6127 |  | $18.89 | 0.02% | 1.09% | 25.60% |  |  |  |  |  |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Contract charge as described in footnote 7 included in these financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Amount rounds to less than 500 units.

\* For Separate Accounts No. 3, 4, and 10, expenses as a percentage of average net assets (at the rates indicated) consisting of mortality and expense charges and other expenses for each period presented. The ratios included only those expenses that result in a direct reduction to unit values.

\*\* This ratio represents the total return for the periods indicated, including changes in the value of the Portfolio, and expenses assessed through the reduction of unit value. This ratio does not include any expenses, such as premium and withdrawal charges, as applicable, or expenses assessed through the redemption of units. The total return would have been lower had such expenses been included in the calculation. Variable Investment Options with a date notation indicate the effective date of that Variable Investment Option, without consideration if there were units outstanding as of such date. The total return is calculated for each period indicated from the effective date through the end of the reporting period. Where there are no units outstanding at period-end, the total return is calculated using the current offering price of the unit. For those Variable Investment Options with less than a year of operations, the total return is not annualized but calculated from the effective date through the end of the reporting period.

\*\*\* For Separate Account No. 66, this ratio represents as the annual percentage of average net assets for each period indicated. Charges made directly to contract owner account through the redemption of units and expenses of the underlying fund have been excluded. For those Variable Investment Options with less than a year of operations, this ratio is not annualized but calculated from the effective date through the end of the reporting period.

(+) Rates charged for the year ended December 31, 2025 are reflected under "Contract Charges" shown for each unit value class in the Statement of Assets and Liabilities.

**10.** Subsequent Events

All material subsequent transactions and events have been evaluated for the period from December 31, 2025 through April 9, 2026, the date on which the financial statements were issued. Except as noted below, there were no transactions or events that require adjustment to or disclosure in the accompanying financial statements.

Equitable Financial is a wholly-owned subsidiary of Equitable Financial Services, LLC, a Delaware corporation and a wholly-owned direct subsidiary of the Equitable Holdings. On March 26, 2026, Equitable Holdings, Inc., a Delaware corporation ("Equitable"), entered into an Agreement and Plan of Merger (the "Merger Agreement"), by and among Equitable, Corebridge Financial, Inc., a Delaware corporation ("Corebridge"), Mountain Holding, Inc., a newly formed Delaware corporation and wholly-owned subsidiary of Corebridge ("HoldCo"), Marcy Holding, Inc., a newly formed Delaware corporation and a wholly-owned subsidiary of HoldCo ("Equitable Merger Sub"), and Palisade Holding, Inc., a newly formed Delaware corporation and a wholly-owned subsidiary of HoldCo ("Corebridge Merger Sub").

------

**SEPARATE ACCOUNTS NO. 10 (POOLED), 4 (POOLED), 3 (POOLED) AND 66** 

**Notes to Financial Statements (Concluded)** 

**December 31, 2025** 

**10.** Subsequent Events (Concluded)

Equitable and Corebridge have agreed, subject to the terms and conditions of the Merger Agreement, to effect an all stock merger transaction to combine their respective businesses by: (a) Corebridge Merger Sub merging with and into Corebridge, with Corebridge surviving such merger as a wholly-owned subsidiary of HoldCo (the "Corebridge Merger"), (b) immediately following the consummation of the Corebridge Merger, Equitable Merger Sub merging with and into Equitable, with Equitable surviving such merger as a wholly-owned subsidiary of HoldCo (the "Equitable Merger" and, together with the Corebridge Merger, the "Mergers"), and (c) as of the closing of the Mergers (the "Closing"), changing the name of HoldCo to "Equitable Holdings, Inc.".

The Merger Agreement and the consummation of the transactions contemplated by the Merger Agreement have been unanimously approved by the boards of directors of both companies. The transaction is expected to close by year-end of 2026, subject to customary closing conditions, including the receipt of required regulatory approvals and approval of shareholders of both Corebridge and Equitable.