SA VCP Dynamic Allocation Portfolio
Actively managed U.S. stock fund
As of its 2026 Q2 report, SA VCP Dynamic Allocation Portfolio held 67 positions with $8.69B in net assets. Its ten largest holdings made up 45.7% of the fund. Its share classes cost 0.76%–1.01% a year. Over the 12 months to May 2026, it returned 16.5%, with dividends reinvested. In 2026 Q3 it added 7 new positions and exited 9.
The Portfolios investment goals are capital appreciation and current income while managing net equity exposure.
The fund invests approximately 70% to 90% of assets in underlying portfolios of equities and fixed income securities, with the remainder in an overlay component of derivatives, fixed income securities, and short-term investments managed by a subadviser. The subadviser uses derivative instruments to adjust the fund's net equity exposure between 25% and 100%, targeting an average long-term exposure around 60% to 65%, and may reduce exposure during periods of higher volatility by taking short positions. Because derivative instruments require only a fraction of the assets needed to purchase securities directly, the fund operates with leverage. The subadviser's active management of net equity exposure through derivatives means actual allocations may diverge substantially from the fund's stated target allocations.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
SA LARGE CAP INDEX PORT | 9.68% | $840.49M | 19.6M | $42.86 |
SA JPMORGAN MFS CORE BOND PORT | 6.35% | $551.27M | 66.6M | $8.28 |
SA MM DIVERSIFIED FIXED INC | 4.95% | $430.06M | 42.2M | $10.19 |
SA WELLINGTON GOV AND QUALITY | 4.50% | $390.67M | 29.8M | $13.13 |
SA LG CAP GROWTH INDEX PORT | 4.46% | $387.66M | 12.1M | $31.97 |
Alliance Bernstein | 3.58% | $310.49M | — | — |
SA LG CAP VALUE INDEX PORT | 3.57% | $309.73M | 15.3M | $20.22 |
SunAmerica Series Trust - SA AB Growth Portfolio | 3.22% | $279.89M | 4.6M | $61.24 |
SA MFS BLUE CHIP GROWTH PORT | 2.86% | $248.02M | 15.1M | $16.47 |
United States Treasury 4.00% · due 2034-02-15 | 2.58% | $224.27M | — | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
All 67 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 64.38% |
| Bonds | 26.90% |
| Securitized | 5.36% |
| Cash & short-term | 3.08% |
| 2 smaller | 1.32% |
Look-through blends 41 underlying funds; 9.587% of NAV was not looked through and stays direct-classified.
How it has done
C000109363 share class · total returns with dividends reinvested
Volatility over the last 12 months: 8.05%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
This fund changed legal form during the period shown. The history above is continuous — it spans both eras, and the change is not a gap in reporting.
Fees & fund details
SA VCP Dynamic Allocation Portfolio is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.76% – 1.01%
- Portfolio turnover
- 28.00% a year · as of 2026 Q2
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
7 new· the largest 5
9 exited· the largest 5
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| 5-10y | 100.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
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