UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-08629

HARTFORD SERIES FUND, INC.

(Exact name of registrant as specified in charter)

P. O. Box 2999, Hartford, Connecticut 06104-2999

(Address of Principal Executive Offices)

Edward P. Macdonald, Esquire

Life Law Unit

The Hartford Financial Services Group, Inc.

200 Hopmeadow Street

Simsbury, Connecticut 06089

(Name and Address of Agent for Service)

Registrant’s telephone number, including area code:  (860) 843-9934

Date of fiscal year end: December 31, 2009

Date of reporting period: January 1, 2009 – December 31, 2009

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Reports to Stockholders.

HARTFORD SERIES FUND, INC.

HARTFORD HLS SERIES FUND II, INC.

      Annual Report
December 31, 2009  
  • Manager Discussions   • Financials

Hartford Series Fund, Inc.

Hartford HLS Series Fund II, Inc.

Table of Contents

Manager Discussions (Unaudited)	2
Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc. Financial Statements:
Schedule of Investments as of December 31, 2009:
Hartford Advisers HLS Fund	60
Hartford Capital Appreciation HLS Fund	66
Hartford Disciplined Equity HLS Fund	72
Hartford Dividend and Growth HLS Fund	75
Hartford Equity Income HLS Fund	78
Hartford Fundamental Growth HLS Fund	80
Hartford Global Advisers HLS Fund	82
Hartford Global Equity HLS Fund	90
Hartford Global Growth HLS Fund	98
Hartford Global Health HLS Fund	101
Hartford Growth HLS Fund	103
Hartford Growth Opportunities HLS Fund	105
Hartford High Yield HLS Fund	108
Hartford Index HLS Fund	114
Hartford International Growth HLS Fund	120
Hartford International Opportunities HLS Fund	124
Hartford International Small Company HLS Fund	128
Hartford MidCap HLS Fund	131
Hartford MidCap Growth HLS Fund	134
Hartford MidCap Value HLS Fund	137
Hartford Money Market HLS Fund	140
Hartford Small Company HLS Fund	144
Hartford SmallCap Growth HLS Fund	150
Hartford SmallCap Value HLS Fund	156
Hartford Stock HLS Fund	163
Hartford Total Return Bond HLS Fund	166
Hartford U.S. Government Securities HLS Fund	177
Hartford Value HLS Fund	182
Hartford Value Opportunities HLS Fund	184
Statements of Assets and Liabilities as of December 31, 2009	188
Statements of Operations for the Year Ended December 31, 2009	194
Statements of Changes in Net Assets for the Years Ended December 31, 2009 and December 31, 2008	200
Notes to Financial Statements	210
Financial Highlights	238
Report of Independent Registered Public Accounting Firm	246
Directors and Officers (Unaudited)	247
How to Obtain a Copy of the Funds’ Proxy Voting Policies and Proxy Voting Records (Unaudited)	249
Quarterly Portfolio Holdings Information (Unaudited)	249
Shareholder Meeting Results (Unaudited)	250
Expense Example (Unaudited)	251
Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited)	254
This report is prepared for the general information of contract owners and qualified retirement plan participants. It is not an offer of contracts or of qualified retirement plans. It should not be used in connection with any offer, except in conjunction with the appropriate prospectus which contains all pertinent information including the applicable sales, administrative and other charges. The views expressed in each Fund’s Manager Discussion under “Why did the Fund perform this way?” and “What is the outlook?” are views of the Fund’s subadvisers and portfolio management team through the end of the period and are subject to change based on market and other conditions.

Hartford Advisers HLS Fund inception 3/31/1983

(subadvised by Wellington Management Company, LLP)

Investment goal – Seeks maximum long-term total return.

Performance Overview (1) 12/31/99 - - 12/31/09

Growth of $10,000 investment

Barclays Capital Government/Credit Bond Index is an unmanaged, market value-weighted index of all debt obligations of the U.S. Treasury and U.S. Government agencies (excluding mortgage-backed securities) and of all publicly issued fixed-rate, nonconvertible, investment grade domestic corporate debt.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	10
	Year	Year	Year
Advisers IA	30.29%	2.43%	1.24%
Advisers IB	29.96%	2.17%	1.00%
Barclays Capital Government/
Credit Bond Index	4.52%	4.71%	6.34%
S&P 500 Index	26.45%	0.41%	-0.95%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Steven T. Irons, CFA	John C. Keogh	Peter I. Higgins, CFA	Christopher L. Gootkind, CFA
Senior Vice President, Partner	Senior Vice President, Partner	Senior Vice President	Vice President

How did the Fund perform?

The Class IA shares of the Hartford Advisers HLS Fund returned 30.29% for the twelve-month period ended December 31, 2009, versus the returns of 26.45% for the S&P 500 Index and 4.52% for the Barclays Capital Government/Credit Bond Index. The Fund outperformed the 24.27% return of the average fund in the Lipper Mixed-Asset Target Allocation Growth VP-UF Funds peer group, a group of funds that hold between 60%-80% in equity securities, with the remainder invested in bonds, cash, and cash equivalents.

Why did the Fund perform this way?

Broad U.S. equity markets rose during the period, but the overall results mask two significantly different market environments. From the beginning of January through early March, stocks fell sharply, reflecting deepening economic worries and concerns over the U.S. government’s increasing involvement in the economy. From early March through December, stocks rallied as investors shook off fears created by the volatility in the markets earlier in the period, interpreting a slowdown in the pace of economic decline as a sign that a bottoming process for the global economy had begun and reacting positively to the responsiveness of many companies in trimming cost structures and realigning operations to meet a softer demand outlook.

Equity markets as measured by the S&P 500 Index returned 26.45% during the period. Information Technology (+62%), Materials (+48%), and Consumer Discretionary (+41%) posted the largest gains while Telecommunication Services (+9%), Utilities (+12%), and Energy (+14%) gained the least. The bond market, as measured by the Barclays Capital Government/Credit Index, returned 4.52% during the period. All risk segments of the fixed income market outperformed duration-equivalent Treasuries for the period.

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The Fund has three primary levers to generate investment performance: equity investments, fixed income investments, and asset allocation among stocks, bonds, and cash. During the period, the equity portion and the fixed income portions of the Fund both outperformed their respective benchmarks. Asset allocation also contributed positively to benchmark-relative (i.e. performance of the Fund as measured against the benchmark) results as the Fund was generally overweight (i.e. the Fund’s sector position was greater than the benchmark position) equities relative to the benchmark.

Equity outperformance versus the benchmark was driven by security selection, which was strongest in Financials, Energy, and Health Care. This was partially offset by weaker selection in Telecommunication Services and Utilities. Sector positioning, which is a result of bottom-up (i.e. stock by stock fundamental research) security selection, also contributed to relative performance due to overweight exposures to Information Technology and Consumer Discretionary and an underweight (i.e. the Fund’s sector position was less than the benchmark position) exposure to Utilities.

Top contributors to relative performance of the equity portion of the Fund during the period were Goldman Sachs (Financials), Schering-Plough (Health Care), and Petrol Brasileiros (Energy). Shares of Goldman Sachs, a leading investment bank, benefited from the firm’s relatively healthy balance sheet and news that the company was exploring ways to pay back its government TARP loans sooner than expected. Schering-Plough’s share price jumped after receiving a takeout offer by Merck. Brazil-based oil and gas exploration and production company Petrol Brasileiros reported solid results aided by reduced exploration and production lifting costs and strong refining and downstream earnings, driving shares higher. The Fund’s holdings in Apple (Information Technology) and Cisco (Information Technology) also contributed positively to the Fund’s returns on an absolute (i.e. total return) basis.

Stocks that detracted the most from relative returns during the period were Shionogi (Health Care), IBM (Information Technology), and Comcast (Consumer Discretionary). Japan-based pharmaceutical company Shionogi's third quarter domestic product sales were weaker than expected and its royalty income from international Crestor sales suffered due to the appreciating Yen. The combination of these two events forced Shionogi to lower its full year earnings outlook, driving its stock price downward. IBM reported better than expected earnings, driving the company’s share price higher. Not owning the benchmark-component stock IBM negatively impacted relative performance. Shares of U.S. cable company Comcast declined following rumors of its intent to acquire NBC Universal, although the stock recovered somewhat later in the period after the actual deal terms were announced. However, continued weakness in new home construction, weak employment, and concerns surrounding video bypass of cable continued to weigh on the stock’s valuation and caused it to lag the overall market. General Electric (Industrials), Exxon Mobil (Energy), and Wells Fargo (Financials) also detracted from absolute returns.

The fixed income portion of the Fund outperformed its benchmark during the period. The Fund’s allocations to agency mortgage-backed securities (MBS), non-agency MBS, and consumer asset-backed securities (ABS), an overweight to the corporate bond sector, and security selection within the corporate bond sector were all additive to relative results. Modestly detracting from performance was the Fund’s allocation to commercial mortgage-backed securities (CMBS) early in the year. In February and March we exited the Fund’s remaining CMBS positions. Continued support from the Federal Reserve’s purchase program led to the outperformance of agency MBS. Non-agency MBS also outperformed with the launch of the Treasury’s Public Private Investment Fund for MBS and improved liquidity conditions. Consumer ABS, including credit card and auto deals, benefitted from improving economic conditions and positive developments in consumer fundamentals. In addition TALF (Term Asset-Backed Securities Loan Facility) -related demand for the sector remained robust through year end. While the banks were virtually closed for lending, the corporate bond market was alive and vibrant. An overweight to corporate bonds was also additive. Corporate bonds posted strong performance for the year as positive earnings surprises and unabated demand drove spreads tighter (i.e. short and long term interest rates moving closer together) for the sector. Notably, the Fund was positioned with an overweight to corporate debt issued by Financials, including Banks, Insurance Companies, and REITS. Further improvements in capital markets and liquidity, increasing availability of capital, and the repayment of government aid by select issuers all led to the outperformance of financial issuers in 2009.

What is the outlook?

It is increasingly clear that the U.S. is emerging from a deep recession. The rate of increase in unemployment has slowed, industrial production leading indicators are pointing to an expansion, and the housing market has shown some signs of stabilization. The government continues to reshape the financial playing field through stimulus packages, massive loans to impaired private sector companies, and other programs, all done with an eye towards thawing credit markets and placing a floor on the house price declines and a ceiling on housing inventory. These moves should continue to help mitigate some of the negative economic pressures, and while the outlook remains uncertain, the strong equity market performance since March lows shows investors are anticipating a recovery.

In the midst of this uncertainty we continue to focus our efforts in the equity portion of the Fund on stock-by-stock fundamental research to construct a diversified large-cap core portfolio. We look for companies that exhibit the following qualities: industry leadership, strong balance sheets, solid management, high return on equity, accelerating earnings, and/or attractive valuation with a catalyst. At the end of the period, our bottom-up investment approach resulted in overweight exposures in Health Care, Information Technology, and Industrials. The equity portions of the Fund’s largest underweights relative to the S&P 500 were in Telecommunication Services, Materials, and Utilities.

From a fixed income perspective, government intervention has reduced systemic risk and we believe that the recovery will be stronger than markets anticipate. Sluggish residential and commercial real estate markets, however, remain key headwinds. We believe that the Federal Reserve will keep the policy rate low and that Treasury yields will remain range bound in the near term. As a result we are tactically managing the Fund’s duration (i.e. sensitivity to changes in interest rates) around neutral. We continue to have a constructive view on risk assets as fundamentals have improved and valuations remain attractive from a historic perspective.

The fixed income portion of the Fund ended the period positioned with an underweight to the government sector, as we believe that nominal Treasury and Agency valuations are not attractive and face the headwind of relentless supply. Within the credit sector, we continue to find valuations compelling. We ended the period with an overweight posture to corporate credits, favoring financial issuers, as corporate profitability is improving and technical demand trends for the sector remain positive. Agency pass-through spreads over Treasuries are

- 3 -

narrow, however we continue to find value in select higher coupon pass-throughs given our benign outlook for prepayment risk. We maintain a small allocation to specified pool higher coupon agency mortgages for income and liquidity purposes. Lastly, we believe that fundamentals for consumer ABS are stabilizing and held exposure to the senior tranches of auto and credit card-backed deals.

The equity and fixed income managers will continue to work collaboratively to make decisions regarding portfolio weights in stocks, bonds, and cash. As of December 31, 2009, the Fund’s equity exposure was at 67% compared to 60% in its benchmark and at the upper end of the Fund’s 50-70% range.

At a meeting held on August 5, 2009, the Board of Directors (“Board”) of Hartford Series Fund, Inc. (“Company”) approved a Form of Agreement and Plan of Reorganization (“Reorganization Agreement”) that provides for the reorganization of Hartford Global Advisers HLS Fund (“Global Advisers HLS”), a series of the Company, into Hartford Advisers HLS Fund (“Advisers HLS”), another series of the Company (“Reorganization”). The Reorganization does not require shareholder approval. The Reorganization is expected to occur on or about March 19, 2010, or on such a date as the officers of the Company determine.

Diversification by Security Type

as of December 31, 2009

	Percentage of
Category	Net Assets
Asset & Commercial Mortgage Backed Securities		0.9	%
Common Stocks		65.6
Corporate Bonds: Investment Grade		13.4
Municipal Bonds		0.8
Preferred Stocks		1.8
U.S. Government Agencies		0.5
U.S. Government Securities		13.8
Warrants		0.0
Short-Term Investments		3.1
Other Assets and Liabilities		0.1
Total		100.0	%

Diversification by Industry
as of December 31, 2009
	Percentage of
Industry (Sector)	Net Assets
Equity Securities
Automobiles & Components (Consumer
Discretionary)		1.0	%
Banks (Financials)		2.7
Capital Goods (Industrials)		5.9
Diversified Financials (Financials)		7.2
Energy (Energy)		7.8
Food & Staples Retailing (Consumer Staples)		1.7
Food, Beverage & Tobacco (Consumer
Staples)		4.2
Health Care Equipment & Services (Health
Care)		3.6
Insurance (Financials)		1.3
Materials (Materials)		0.5
Media (Consumer Discretionary)		1.6
Pharmaceuticals, Biotechnology & Life
Sciences (Health Care)		7.3
Retailing (Consumer Discretionary)		4.0
Semiconductors & Semiconductor Equipment
(Information Technology)		1.9
Software & Service (Information Technology)		6.1
Technology Hardware & Equipment
(Information Technology)		7.4
Transportation (Industrials)		2.6
Utilities (Utilities)		0.6
Fixed Income Securities
Air Transportation (Transportation)		0.4
Arts, Entertainment and Recreation (Services)		0.0
Beverage and Tobacco Product Manufacturing
(Consumer Staples)		0.1
Computer and Electronic Product
Manufacturing (Technology)		0.1
Electrical Equipment, Appliance
Manufacturing (Technology)		0.2
Finance and Insurance (Finance)		9.6
General Obligations (General Obligations)		0.3
Health Care and Social Assistance (Health
Care)		0.5
Higher Education (Univ., Dorms, etc.) (Higher
Education (Univ., Dorms, etc.))		0.2
Housing (HFA'S, etc.) (Housing (HFA'S, etc.))		0.0
Information (Technology)		1.1
Machinery Manufacturing (Capital Goods)		0.2
Motor Vehicle & Parts Manufacturing
(Consumer Cyclical)		0.2
Petroleum and Coal Products Manufacturing
(Energy)		0.3
Pipeline Transportation (Utilities)		0.1
Real Estate and Rental and Leasing (Finance)		0.2
Remic - Pac's (U.S. Government Agencies)		0.0
Retail Trade (Consumer Cyclical)		0.1
Soap, Cleaning Compound and Toilet
Manufacturing (Consumer Staples)		0.3
Tax Allocation (Tax Allocation)		0.1
Tennessee Valley Authority (U.S. Government
Securities)		2.9
Transportation (Transportation)		0.2
U.S. Government Agencies (U.S. Government
Agencies)		0.5
U.S. Government Securities (U.S. Government
Securities)		10.9
Utilities (Utilities)		0.9
Short-Term Investments		3.1
Other Assets and Liabilities		0.1
Total		100.0	%

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Hartford Capital Appreciation HLS Fundinception 4/2/1984

(subadvised by Wellington Management Company, LLP)

Investment goal – Seeks growth of capital.

Performance Overview (1) 12/31/99 - - 12/31/09

Growth of $10,000 investment

Russell 3000 Index is an unmanaged index that measures the performance of the 3,000 largest U.S. companies based on total market capitalization.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	10
	Year	Year	Year
Capital Appreciation IA	45.67%	4.52%	6.02%
Capital Appreciation IB	45.30%	4.26%	5.77%
Russell 3000 Index	28.34%	0.76%	-0.21%
S&P 500 Index	26.45%	0.41%	-0.95%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Saul J. Pannell, CFA	Mario E. Abularach, CFA, CMT	Jeffrey L. Kripke	David W. Palmer, CFA
Senior Vice President, Partner	Vice President	Vice President	Vice President
Nicolas M. Choumenkovitch	Peter I. Higgins, CFA	Paul E. Marrkand, CFA	Donald J. Kilbride
Senior Vice President	Senior Vice President	Senior Vice President	Senior Vice President

How did the Fund perform?

The Class IA shares of the Hartford Capital Appreciation HLS Fund returned 45.67% for the twelve-month period ended December 31, 2009, versus the returns of 26.45% for the S&P 500 Index and 28.34% for the Russell 3000 Index. The Fund outperformed the 31.30% return of the average fund in the Lipper Multi-Cap Core VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Broad U.S. equity markets rose during the period, but this overall performance masks two significantly different market environments. From the end of 2008 through early March, stocks fell sharply reflecting deepening economic worries and concerns over the U.S. government’s increasing involvement in the economy. From early March through December, stocks rallied as investors came to believe that a Depression-like scenario was less likely. Equity markets, as measured by the Russell 3000 Index, returned 28.34% during the period, with all sectors within the index posting double digit returns. Information Technology (62%), Materials (53%) and Consumer Discretionary (48%) sectors posted the largest gains. Utilities (13%) and Telecommunication Services (13%) sectors lagged on a relative (i.e. performance of the Fund as measured against the benchmark) basis.

The Fund outperformed its benchmark primarily due to stock selection. Selection was strongest in the Energy, Financials and Consumer Discretionary sectors, and weakest in the Telecommunication Services and Utilities sectors. Allocation among sectors, a result of the bottom-up (i.e. stock by stock fundamental research) stock selection process, also aided relative performance, largely due to underweight (i.e. the

- 5 -

Fund’s sector position was less than the benchmark position) positions in the Consumer Staples and Utilities sectors.

Ford (Consumer Discretionary), Exxon Mobil (Energy) and Goldman Sachs (Financials) were among the top contributors to relative returns. Shares of automobile and truck manufacturer Ford rose as the company released solidly profitable, better than expected results in both auto and finance operations, aided by higher volumes, better price/mix, and cost reduction actions. Large diversified energy company Exxon Mobil’s lower leverage to rising energy prices, large refining exposure and disappointing quarterly earnings report weighed on the stock. Our underweight relative to the benchmark contributed positively to relative results. Shares of investment bank and bank holding company Goldman Sachs moved higher as investors were attracted to the firm’s relatively clean balance sheet and improved competitive positioning within the investment banking industry. Investors were also pleased by the company’s repayment of TARP funds. Health care company Schering-Plough was also a top contributor to absolute (i.e. total return) returns.

The largest detractors from relative returns were ACE (Financials), Apple (Information Technology) and Raytheon (Industrials). ACE, a global property and casualty insurance company, saw its shares trade lower on concerns about the pricing cycle. Consumer electronics company Apple performed well during the period despite slowing consumer trends. We initiated a position during the period, but not holding the benchmark component stock throughout the entire period detracted from relative performance. Massachusetts-based defense contractor Raytheon underperformed as investors feared that President Obama's budget proposal would negatively impact defense spending and would include sharp cuts to defense contractors. Industrial and financial conglomerate General Electric and diversified financial company Citigroup were also top detractors from absolute results.

What is the outlook?

It is increasingly clear that the U.S. is emerging from a deep recession. The rate of increase in unemployment has slowed, industrial production leading indicators are pointing to an expansion, and the housing market has shown some signs of stabilization. The government continues to reshape the financial playing field through stimulus packages, massive loans to impaired private sector companies, and other programs, all taken with an eye towards thawing credit markets and placing a floor on the house price declines and a ceiling on housing inventory. These moves will continue to help mitigate some of the negative economic pressures, and while the outlook remains uncertain, the strong equity market performance since the March lows shows investors are anticipating a recovery.

In this environment we continue to focus our efforts on stock-by-stock fundamental research. At the end of the period, the Fund was most overweight (i.e. the Fund’s sector position was greater than the benchmark position) the Health Care, Consumer Discretionary and Information Technology sectors, and most underweight Consumer Staples, Utilities and Telecommunication Services sectors. The Fund’s largest absolute sector weights were in the Information Technology, Health Care and Financials sectors.

As of December 31, 2009, Team 1 (Saul Pannell and Frank Catrickes) managed approximately 51% of the Fund’s net assets.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Equity Securities
Automobiles & Components (Consumer
Discretionary)		4.3	%
Banks (Financials)		5.0
Capital Goods (Industrials)		6.6
Commercial & Professional Services
(Industrials)		0.4
Consumer Durables & Apparel (Consumer
Discretionary)		2.2
Consumer Services (Consumer Discretionary)		1.2
Diversified Financials (Financials)		5.7
Energy (Energy)		9.2
Food & Staples Retailing (Consumer Staples)		1.7
Food, Beverage & Tobacco (Consumer
Staples)		1.5
Health Care Equipment & Services (Health
Care)		7.1
Household & Personal Products (Consumer
Staples)		0.5
Insurance (Financials)		4.5
Materials (Materials)		5.9
Media (Consumer Discretionary)		1.8
Pharmaceuticals, Biotechnology & Life
Sciences (Health Care)		10.2
Real Estate (Financials)		0.6
Retailing (Consumer Discretionary)		4.7
Semiconductors & Semiconductor Equipment
(Information Technology)		2.5
Software & Service (Information Technology)		8.5
Technology Hardware & Equipment
(Information Technology)		11.2
Telecommunication Services (Services)		1.0
Transportation (Industrials)		2.2
Utilities (Utilities)		0.4
Fixed Income Securities
Finance and Insurance (Finance)		0.2
Short-Term Investments		1.0
Other Assets and Liabilities		(0.1	)
Total		100.0	%

- 6 -

Hartford Disciplined Equity HLS Fundinception 5/29/1998

(subadvised by Wellington Management Company, LLP)

Investment goal – Seeks growth of capital.

Performance Overview (1) 12/31/99 - - 12/31/09

Growth of $10,000 investment

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	10
	Year	Year	Year
Disciplined Equity IA	25.65%	0.46%	-0.67%
Disciplined Equity IB	25.33%	0.21%	-0.91%
S&P 500 Index	26.45%	0.41%	-0.95%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
James A. Rullo, CFA	Mammen Chally, CFA
Senior Vice President, Partner	Vice President

How did the Fund perform?

The Class IA shares of the Hartford Disciplined Equity HLS Fund returned 25.65% for the twelve-month period ended December 31, 2009, underperforming the Fund’s benchmark, the S&P 500 Index, which returned 26.45% for the same period. The Fund underperformed the 27.98% return of the average fund in the Lipper Large-Cap Core VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The period was marked by two drastically separate episodes. The first was a freefall of global equity markets from January through mid-March. This was characterized by uncertainty over the U.S. government stimulus package, tight global credit and liquidity conditions, a collapse of global industrial production, and sharp increases in unemployment. Beginning in March, global equity markets rallied sharply as investors showed increased appetite for risk and reacted positively to nascent signs of a bottoming in the fortunes of the financial industry, coupled with aggressive intervention by the Fed in the capital markets and better than expected corporate profits due to cost cutting. Signs of economic stabilization overshadowed concerns about high unemployment and weak home prices.

All ten of the broad economic sectors in the S&P 500 rose, though the strength varied greatly by sector. Information Technology (+62%), Materials (+48%), and Consumer Discretionary (+41%) performed well during the period. Telecommunication Services (+9%), Utilities (+12%), and Energy (+14%) rose the least.

The Fund underperformed the benchmark due to a combination of weak stock selection in the Information Technology, Utilities and Industrials sectors and our sector position, which is a fallout of the bottom up (i.e. stock by stock fundamental research) stock selection process. In particular, our above-benchmark allocation to the Utilities and Health Care sectors, and an underweight (i.e. the Fund’s sector position was less than the benchmark position) allocation to the Materials sector, hurt relative (i.e. performance of the Fund as measured against the benchmark) performance. This more than offset strong stock selection in the Energy and Financials sectors.

The largest detractors from performance relative to the benchmark were Apollo Group (Consumer Discretionary), Eli Lilly (Health Care) and Lockheed Martin (Industrials). For-profit education provider Apollo Group, which operates the University of Phoenix among other institutions, saw share price weakness after the firm announced an informal SEC investigation into its revenue recognition practices. We continue to hold the stock as we expect the investigation will not result

- 7 -

in any drastic changes to revenue recognition. Eli Lilly’s shares came under pressure on concerns about the impact of future patent expirations on the company's long-term growth, as well as near-term pressures due to a slower ramp up of anti-clotting agent Effient. Lockheed Martin’s shares underperformed due to concerns of the impact of potential Department of Defense spending cuts. Other detractors from absolute (i.e. total return) performance included General Mills (Consumer Staples) and McKesson (Health Care).

The largest contributors to relative performance were Exxon Mobil (Energy), Wells Fargo (Financials) and General Electric (Industrials). Not owning benchmark component Exxon Mobil for most of the period helped relative performance as the company's lower leverage to rising energy prices and large refining exposure weighed on the stock. In a difficult period for financial services stocks, shares of U.S. bank Wells Fargo performed relatively better than those of many other U.S. banks as the company benefited from industry consolidation and a “flight to quality.” Not owning benchmark name General Electric also helped relative performance as the shares struggled early in the period due to concerns surrounding GE Capital's liquidity position and potential losses. Our positions in Apple (Information Technology) and Microsoft (Information Technology) were other top contributors to absolute performance.

What is the outlook?

It is increasingly clear that the U.S. is emerging from a deep recession. The rate of increase in unemployment has slowed, industrial production leading indicators are pointing to an expansion, and the housing market has shown some signs of stabilization. The government continues to reshape the financial playing field through stimulus packages, massive loans to impaired private sector companies, and other programs, all taken with an eye towards thawing credit markets and placing a floor on the house price declines and a ceiling on housing inventory. These moves should continue to help mitigate some of the negative economic pressures, and while the outlook remains uncertain, the strong equity market performance since the March lows show investors are anticipating a recovery.

The Fund focuses on stock selection as the key driver of returns and uses proprietary fundamental and quantitative research in a disciplined framework to build a portfolio of the most attractive stocks. Sector exposures are residuals from this bottom-up stock selection process and are not explicit management decisions. Based on individual stock decisions, the Fund ended the period most overweight (i.e. the Fund’s sector position was greater than the benchmark position) the Health Care, Utilities and Information Technology sectors and most underweight the Consumer Staples, Materials and Energy sectors relative to the S&P 500 Index, the Fund’s benchmark.

Diversification by Industryas of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer
Discretionary)		1.3	%
Banks (Financials)		4.7
Capital Goods (Industrials)		7.7
Commercial & Professional Services (Industrials)		0.8
Consumer Durables & Apparel (Consumer
Discretionary)		0.5
Consumer Services (Consumer Discretionary)		1.4
Diversified Financials (Financials)		4.2
Energy (Energy)		9.7
Food & Staples Retailing (Consumer Staples)		0.7
Food, Beverage & Tobacco (Consumer Staples)		6.8
Health Care Equipment & Services (Health Care)		5.1
Insurance (Financials)		5.2
Materials (Materials)		0.8
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		12.6
Real Estate (Financials)		0.9
Retailing (Consumer Discretionary)		6.3
Semiconductors & Semiconductor Equipment
(Information Technology)		3.4
Software & Service (Information Technology)		10.3
Technology Hardware & Equipment (Information
Technology)		7.9
Telecommunication Services (Services)		2.1
Utilities (Utilities)		5.7
Short-Term Investments		1.4
Other Assets and Liabilities		0.5
Total		100.0	%

- 8 -

Hartford Dividend and Growth HLS Fund inception 3/9/1994

(subadvised by Wellington Management Company, LLP)

Investment goal – Seeks a high level of current income consistent with growth of capital.

Performance Overview (1) 12/31/99 - - 12/31/09

Growth of $10,000 investment

Russell 1000 Value Index is an unmanaged index measuring the performance of those Russell 1000 Index companies with lower price-to-book ratios and lower forecasted growth values.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	10
	Year	Year	Year
Dividend and Growth IA	24.68%	3.07%	4.24%
Dividend and Growth IB	24.36%	2.81%	3.99%
Russell 1000 Value Index	19.69%	-0.25%	2.47%
S&P 500 Index	26.45%	0.41%	-0.95%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Manager

Edward P. Bousa, CFA

Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of the Hartford Dividend and Growth HLS Fund returned 24.68% for the twelve-month period ended December 31, 2009, versus the returns of 26.45% for the S&P 500 Index and 19.69% for the Russell 1000 Value Index. The Fund outperformed the 23.06% return of the average fund in the Lipper Equity Income VA-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Broad U.S. equity markets rose during the period, but this overall increase masks two significantly different market environments. From the beginning of January through early March, stocks fell sharply reflecting deepening economic worries and concerns over the U.S. government’s increasing involvement in the economy. From early March through the end of December, stocks rallied as investors came to believe that a Depression-like scenario was less likely.

Overall equity market performance was positive for the period across all market capitalizations: large cap equities (+26%), mid caps (+37%) and small caps (+27%) all rose as represented by the S&P 500, S&P 400 MidCap, and Russell 2000 indices respectively. During the twelvemonth period, all ten sectors within the S&P 500 Index posted positive returns, led by Information Technology (+62%), Materials (+48%) and Consumer Discretionary (+41%). Telecommunication Services (+9%), Utilities (+12%) and Energy (+14%) lagged on a relative (i.e. performance of the Fund as measured against the benchmark) basis.

The Fund’s underperformance relative to the S&P 500 Index was due to sector allocation. Specifically, our underweight (i.e. the Fund’s sector position was less than the benchmark position) allocations to the strong-performing Information Technology and Consumer Discretionary sectors and our overweight (i.e. the Fund’s sector position was greater than the benchmark position) position in the weaker performing Energy

- 9 -

sector, detracted from relative performance. Stock selection was strongest in the Health Care, Energy, and Materials sectors, more than offsetting weaker stock selection in the Information Technology and Telecommunication Services sectors.

Detractors from benchmark-relative performance included Apple (Information Technology), Google (Information Technology), Eli Lilly (Health Care) and AT&T (Telecommunication Services). Shares of Consumer electronics company Apple and internet search engine provider Google performed well during the period despite slowing consumer trends. The Fund did not hold shares in either benchmark component which hurt relative performance. Shares of major U.S. pharmaceutical company Eli Lilly declined during the period amid concerns about the impact of future patent expirations on the company’s long-term growth. The company’s share price was also negatively impacted by near-term pressures from a slower ramp-up of the company’s anti-clotting agent, Effient. Shares of AT&T underperformed the broad market as it faced tougher competition in wireless and as the market shifted away from defensive sectors toward cyclical sectors in anticipation of economic recovery. Capital One (Financials), Exxon Mobil (Energy) and Bank of America (Financials) were among the top detractors from absolute (i.e. total return) performance.

The Fund’s top contributors to benchmark-relative performance during the period were Exxon Mobil (Energy), Schering-Plough (Health Care) and International Paper (Materials). Our underweight position in benchmark component Exxon Mobil contributed to relative performance as shares of this global integrated oil company fell in response to declining oil prices amid economic weakness. Pharmaceutical company Schering-Plough benefited from a takeout offer by Merck, driving the share price higher. Shares of paper and containerboard producer International Paper rose as the company reported better than expected EPS and cash flow generation. The company also benefited from rational pricing in the industry. IBM (Information Technology) and Anadarko Petroleum (Energy) were top among the contributors to absolute performance.

What is the outlook?

The market’s sharp rally off its March lows has narrowed or eliminated many previously-attractive disparities between market price and our assessment of fair value. The strength of the rally suggests that investors are pricing in not just the removal of the worst-case scenario, but a robust economic recovery. While recent economic releases point to an improvement from the dire outlook of early 2009, the U.S. economy is by no means out of the woods. Consumer and corporate debt levels remain high, unemployment persists near 10%, and the government’s unprecedented monetary and fiscal stimulus has raised the specter of inflation down the road.

Our investment discipline is focused on investing in areas of strong demand and avoiding areas of oversupply. At the end of the period, our largest overweights relative to the benchmark were to the Energy, Health Care and Industrials sectors, while we remain underweight the Information Technology, Consumer Discretionary and Consumer Staples sectors. We believe the Energy sector remains attractive based upon restricted supply at lower prices and a possible global economic rebound. Health Care remains an attractive sector as the government reform of health care appears to be less severe on the companies than previously feared. We believe the Consumer Staples sector is relatively less attractive as we continue to find opportunities with better risk/reward in other sectors.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer
Discretionary)		0.5	%
Banks (Financials)		4.4
Capital Goods (Industrials)		9.5
Commercial & Professional Services (Industrials)		1.1
Diversified Financials (Financials)		6.4
Energy (Energy)		15.6
Food & Staples Retailing (Consumer Staples)		2.3
Food, Beverage & Tobacco (Consumer Staples)		4.4
Health Care Equipment & Services (Health Care)		3.8
Household & Personal Products (Consumer Staples)		2.1
Insurance (Financials)		4.7
Materials (Materials)		3.3
Media (Consumer Discretionary)		2.7
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		11.2
Retailing (Consumer Discretionary)		3.0
Semiconductors & Semiconductor Equipment
(Information Technology)		1.3
Software & Service (Information Technology)		3.6
Technology Hardware & Equipment (Information
Technology)		5.7
Telecommunication Services (Services)		4.0
Transportation (Industrials)		2.0
Utilities (Utilities)		5.2
Short-Term Investments		2.1
Other Assets and Liabilities		1.1
Total		100.0	%

- 10 -

Hartford Equity Income HLS Fund inception 10/31/2003

(subadvised by Wellington Management Company, LLP)

Investment goal – Seeks a high level of current income consistent with growth of capital.

Performance Overview (1) 10/31/03 - - 12/31/09

Growth of $10,000 investment

Russell 1000 Value Index is an unmanaged index measuring the performance of those Russell 1000 Index companies with lower price-to-book ratios and lower forecasted growth values.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	Since
	Year	Year	Inception
Equity Income IA	17.66%	2.56%	4.82%
Equity Income IB	17.37%	2.31%	4.55%
Russell 1000 Value Index	19.69%	-0.25%	3.52%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
W. Michael Reckmeyer, III, CFA	Karen H. Grimes, CFA	Ian R. Link, CFA
Senior Vice President	Senior Vice President	Vice President

How did the Fund perform?

The Class IA shares of the Hartford Equity Income HLS Fund returned 17.66% for the twelve-month period ended December 31, 2009, underperforming the Fund’s benchmark, the Russell 1000 Value Index, which returned 19.69% for the same period. The Fund underperformed the 23.06% return of the average fund in the Lipper Equity Income VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

After a tumultuous start, U.S. equities finished 2009 near their highs for the year. Throughout the year, extraordinary government measures helped to stabilize global economies and markets, and as the year progressed, low interest rates, better than expected corporate earnings, and improving economic data provided a favorable backdrop for equities. During the period, Growth stocks, as measured by the Russell 1000 Growth Index (37.2%), outpaced value, as measured by the Russell 1000 Value Index (19.7%) for the year. Large cap stocks, as measured by the S&P 500 Index (26.5%), lagged smaller cap stocks, as measured by the Russell 2000 Index (27.2%).

All ten sectors within the Russell 1000 Value Index posted strong positive returns. Materials, Information Technology and Consumer Discretionary were the top performers, while the Telecommunication Services and Energy sectors lagged, on a relative (i.e. performance of the Fund as measured against the benchmark) basis.

The Fund underperformed its benchmark due to weak stock selection, particularly within the Consumer Discretionary, Financials and Materials sectors. Sector allocation, a fall-out of the bottom-up (i.e. stock by stock fundamental research) stock selection process, was slightly positive led by the Fund’s overweight (i.e. the Fund’s sector position was greater than the benchmark position) to the Information Technology sector.

Among the top detractors from benchmark-relative returns were ACE (Financials), Ford Motor (Consumer Discretionary) and Wells Fargo (Financials). Shares of global insurer ACE declined due to investors’ concerns over weakness in the property and casualty pricing cycle. We did not own benchmark component Ford Motor Company whose shares rallied as the company benefited from cost cutting, improved margins and higher volumes. This hurt benchmark-relative returns. Shares of Wells Fargo declined as the company raised capital to exit the TARP program. Top absolute detractors for the period included U.S. Bancorp

- 11 -

(Financials), General Electric (Industrials) and Bank of America (Financials).

Microsoft (Information Technology), Citigroup (Financials) and Exxon Mobil (Energy) were among the top contributors to benchmark-relative returns. Shares of global technology giant Microsoft gained on expectations of a strong software product cycle, and cost cutting discipline. We did not own the downward-trending shares of Citigroup during the period, which benefited relative results as the company is a significant benchmark holding. Our below-benchmark weight in global integrated oil company Exxon Mobil helped performance as shares of the stock declined during the period due to the company’s defensive characteristics. Top absolute contributors for the period included Goldman Sachs (Financials) and JPMorgan Chase (Financials).

What is the outlook?

We believe the market’s continued rally off its March lows has narrowed or eliminated many previously-attractive disparities between market price and our assessment of fair value. The strength of the rally suggests that investors expect strong economic growth in 2010. While recent economic releases do indicate the potential for a synchronized global economic recovery, the global economy is by no means out of the woods as long-term problems persist. In the U.S., consumer debt levels remain high, unemployment persists near 10%, and the government’s unprecedented monetary and fiscal stimulus, while helping to stabilize the financial system, has raised the specter of inflation down the road.

In this environment we continue to apply our time-tested philosophy focused on building a portfolio in which growth and the dividend yield are better than the market and valuations are lower than the market. Based on bottom-up stock decisions, we ended the period most overweight the Consumer Staples, Industrials, and Information Technology sectors, relative to the benchmark. Our largest underweights were in the Energy, Telecommunications Services and Materials sectors, relative to the benchmark.

At a meeting held on August 5, 2009, the Board of Directors (“Board”) of Hartford Series Fund, Inc. (“Company”) approved a Form of Agreement and Plan of Reorganization (“Reorganization Agreement”) that provides for the reorganization of a series of the Company, Hartford Equity Income HLS Fund, into another series of the Company, Hartford Value HLS Fund (“Reorganization”). The Reorganization does not require shareholder approval. The Reorganization is expected to occur on or about March 19, 2010, or on such a date as the officers of the Company determine.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Banks (Financials)		6.3	%
Capital Goods (Industrials)		10.5
Commercial & Professional Services (Industrials)		3.1
Consumer Durables & Apparel (Consumer
Discretionary)		1.7
Consumer Services (Consumer Discretionary)		1.5
Diversified Financials (Financials)		8.9
Energy (Energy)		15.8
Food & Staples Retailing (Consumer Staples)		0.9
Food, Beverage & Tobacco (Consumer Staples)		7.2
Household & Personal Products (Consumer Staples)		1.8
Insurance (Financials)		7.2
Materials (Materials)		2.1
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		9.8
Retailing (Consumer Discretionary)		5.7
Semiconductors & Semiconductor Equipment
(Information Technology)		4.0
Software & Service (Information Technology)		2.9
Telecommunication Services (Services)		3.2
Utilities (Utilities)		6.3
Short-Term Investments		1.0
Other Assets and Liabilities		0.1
Total		100.0	%

- 12 -

Hartford Fundamental Growth HLS Fund inception 4/30/2001

(subadvised by Wellington Management Company, LLP)

Investment goal – Seeks long-term capital appreciation.

Performance Overview (1) 4/30/01 - 12/31/09

Growth of $10,000 investment

Russell 1000 Growth Index is an unmanaged index which measures the performance of those Russell 1000 Index companies with higher price-to-book ratios and higher forecasted growth values.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	Since
	Year	Year	Inception
Fundamental Growth IA	42.48%	3.05%	2.18%
Fundamental Growth IB	42.13%	2.79%	1.94%
Russell 1000 Growth Index	37.21%	1.63%	-0.43%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Manager

Francis J. Boggan, CFA

Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of the Hartford Fundamental Growth HLS Fund returned 42.48% for the twelve-month period ended December 31, 2009, outperforming the Fund’s benchmark, the Russell 1000 Growth Index, which returned 37.21% for the same period. The Fund also outperformed the 37.97% return of the average fund in the Lipper Large Cap Growth VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

After posting steep losses in 2008 and the first part of 2009 amid increasing signs of a deeper and more protracted recession, U.S. equities staged a sharp rebound beginning in March 2009 as favorable news flow from a few large financial institutions signaled to investors that the troubled Financials sector might be starting to stabilize. Adding fuel to the recovery was the U.S. Treasury Department’s plan to clean up bank balance sheets.

In this environment, mid-cap stocks (+37%) outperformed small (+27%) and large cap stocks (+26%), as measured by the S&P MidCap 400, Russell 2000 and S&P 500 indices, respectively. Growth stocks (+37%) significantly outperformed value stocks (+20%), as measured by the Russell 1000 Growth and Russell 1000 Value indices, respectively. Within the Russell 1000 Growth Index, all ten of the broad economic sectors posted positive returns. Information Technology (+62%), Materials (+43%), and Consumer Discretionary (+43%) had the strongest returns while Utilities (+17%), Consumer Staples (+17%), and Health Care (+22%) posted the least positive returns.

The Fund outperformed its benchmark during the period due to positive sector allocation, a result of bottom-up (i.e. stock by stock fundamental research) stock selection, and strong stock selection. Our underweight (i.e. the Fund’s sector position was less than the benchmark position) allocation to Consumer Staples and overweight (i.e. the Fund’s sector position was greater than the benchmark position) allocation to Information Technology positively contributed to relative (i.e. performance of the Fund as measured against the benchmark) returns. Stock selection was strongest in Energy, Financials, and Industrials.

Top contributors to relative performance included Assured Guaranty (Financials), Atwood Oceanics (Energy) and Exxon Mobil (Energy). Shares of Assured Guaranty, a credit enhancement product provider, rallied as investors gained confidence that the Financial Security Assurance acquisition from Dexia will be accretive (i.e. additive to earnings per share) to earnings and a long-term positive for the company. The market also thinks the company will be one of the only municipal bond insurers left standing, which should allow the company to gain market share. Deepwater offshore driller Atwood Oceanics saw its share price increase on a rebound in oil prices and improved expectations for rig day rates. Not owning benchmark component Exxon Mobil for most of the period helped relative performance as the company's lower leverage to rising energy prices, large refining exposure, and its defensive characteristics and size weighed on the stock. Apple (Information Technology), Microsoft (Information Technology), and IBM (Information Technology) were the top absolute contributors to performance.

- 13 -

The three largest detractors from benchmark-relative performance were Amazon.com (Consumer Discretionary), Barrick Gold (Materials), and AT&T (Telecommunication Services). Internet retailer and web services provider Amazon.com’s shares rose as investors recognized the company’s strong financial results and its solid positioning for further growth as the economy rebounds and the online retail market continues its rapid growth. Not owning the company for much of the period hurt relative results. Shares of gold producer and exploration company Barrick Gold rose with the price of gold. AT&T detracted from relative performance as investors were concerned that growing data usage will lead to higher capital intensity in the business; additional concerns stemmed from expectations that greater competition from low-end providers may impact growth. We eliminated our position during the period. Other notable detractors from absolute (i.e. total return) returns included NII Holding (Telecommunication Services), Caterpillar (Industrials), and Genzyme (Health Care).

What is the outlook?

It is increasingly clear that the U.S. is emerging from a deep recession. The rate of increase in unemployment has slowed, industrial production leading indicators are pointing to an expansion, and the housing market has shown some signs of stabilization. The government continues to reshape the financial playing field through stimulus packages, massive loans to impaired private sector companies, and other programs, all taken with an eye towards thawing credit markets and placing a floor on the house price declines and a ceiling on housing inventory. These moves should continue to help mitigate some of the negative economic pressures, and while the outlook remains uncertain, the strong equity market performance since the March lows shows that investors are anticipating a recovery.

The Fund seeks to add value through bottom-up security selection, with a goal of creating a diversified portfolio of high-quality growth companies with attractive valuations. Investment decisions are based primarily on independent, bottom-up, fundamental research. As of the end of the period, the Fund was most overweight in Information Technology, Health Care, and Energy and most underweight Consumer Staples, Utilities and in Consumer Discretionary relative to the Russell 1000 Growth Index.

At a meeting held on August 5, 2009, the Board of Directors (“Board”) of Hartford Series Fund, Inc. (“Company”) approved a Form of Agreement and Plan of Reorganization (“Reorganization Agreement”) that provides for the reorganization of Hartford Fundamental Growth HLS Fund (“Fundamental Growth HLS”), a series of the Company, into Hartford Growth HLS Fund (“Growth HLS”), another series of the Company (“Reorganization”). The Reorganization does not require shareholder approval. The Reorganization is expected to occur on or about April 16, 2010, or on such a date as the officers of the Company determine.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Banks (Financials)		0.8	%
Capital Goods (Industrials)		7.8
Consumer Durables & Apparel (Consumer
Discretionary)		1.4
Consumer Services (Consumer Discretionary)		3.2
Diversified Financials (Financials)		1.4
Energy (Energy)		5.3
Food & Staples Retailing (Consumer Staples)		3.2
Food, Beverage & Tobacco (Consumer Staples)		2.2
Health Care Equipment & Services (Health Care)		5.6
Household & Personal Products (Consumer Staples)		3.8
Insurance (Financials)		3.1
Materials (Materials)		3.4
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		11.1
Retailing (Consumer Discretionary)		4.6
Semiconductors & Semiconductor Equipment
(Information Technology)		2.1
Software & Service (Information Technology)		15.9
Technology Hardware & Equipment (Information
Technology)		17.6
Transportation (Industrials)		2.3
Short-Term Investments		0.3
Other Assets and Liabilities		4.9
Total		100.0	%

- 14 -

Hartford Global Advisers HLS Fund inception 3/1/1995

(subadvised by Wellington Management Company, LLP)

Investment goal – Seeks maximum long-term total rate of return.

Performance Overview (1) 12/31/99 - - 12/31/09

Growth of $10,000 investment

Barclays Capital Global Aggregate Index USD Hedged provides a broad-based measure of the global investment-grade fixed income markets (the three major components of this index are the U.S. Aggregate, the Pan-European Aggregate, and the Asian-Pacific Aggregate Indices; it also includes Eurodollar and Euro-Yen corporate bonds, Canadian Government securities, and USD investment grade 144A securities).

MSCI World Growth Index is a broad-based unmanaged market capitalization-weighted total return index which measures the performance of growth securities in 23 developed-country global equity markets including the U.S., Canada, Europe, Australia, New Zealand and the Far East.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	10
	Year	Year	Year
Global Advisers IA	22.50%	1.64%	1.77%
Global Advisers IB	22.20%	1.38%	1.53%
Barclays Capital Global Aggregate
Index USD Hedged	5.09%	5.01%	5.90%
MSCI World Growth Index	33.85%	2.90%	-2.23%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Matthew D. Hudson, CFA	Robert L. Evans	Evan S. Grace, CFA
Vice President	SeniorVice President, Partner	Vice President
Andrew S. Offit, CPA	Jean-Marc Berteaux
Senior Vice President, Partner	Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of the Hartford Global Advisers HLS Fund returned 22.50% for the twelve month period ended December 31, 2009, versus the returns of 33.85% for the MSCI World Growth Index and 5.09% for the Barclays Capital Global Aggregate Index USD Hedged. The Fund underperformed the 24.23% return of the average fund in the Lipper Global Flexible Portfolio VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Capital markets were volatile during the twelve-month period ended December 31, 2009. Financial tumult reached historic levels in late 2008 and early 2009 as the trajectory of the global economy turned sharply lower. As economies around the globe faltered, policymakers provided record amounts of stimulus in an effort to stabilize conditions. By period’s end, these initiatives had taken root and the global economy appeared to be on far-firmer footing, with a host of indicators demonstrating material signs of improvement.

- 15 -

In this context, the MSCI World Growth Index returned 33.85% during 2009. However, during the first part of the period global equities declined significantly amid increasing signs of a deeper and more protracted recession. They then rebounded beginning in March as governments around the world increased their involvement to help mitigate the financial crisis. Some encouraging economic data added fuel to the recovery. Within the MSCI World Growth Index, all ten sectors posted positive returns, but performance among sectors varied considerably. Materials, Information Technology, and Energy performed the best, while Utilities and Health Care lagged during the twelve-month period.

Fixed income markets closed the year on a high note, as credit spreads finished 2009 at, or within basis points of, their tightest levels of the year, producing results that were well into positive territory for the year. Lower-quality credit segments performed particularly well, as risk aversion moderated from the extreme levels reached earlier in the year. Buoyed by the strong performance of non-government debt, the Barclay’s Global Aggregate Index USD Hedged returned 5.09% for the period.

The Fund outperformed its benchmark due to favorable relative (i.e. performance of the Fund as measured against the benchmark) returns in both the fixed income and equity portions of the Fund. The fixed income portion outperformed its benchmark largely as a result of strong performance within our credit strategies. The equity portion of the Fund outperformed the MSCI World Growth Index due to strong security selection. Asset allocation among equities, bonds, and cash contributed modestly to relative performance during the period.

Within the equity portion of the Fund, outperformance versus the MSCI World Growth benchmark was primarily due to security selection, particularly within the Financials and Consumer Discretionary sectors. This was partially offset by weaker selection in Industrials and Telecommunication Services. Relative performance also benefited from the Fund’s underweights to Utilities and Consumer Staples; however, the Fund’s overweight (i.e. the Fund’s sector position was greater than the benchmark position) to Financials and underweight (i.e. the Fund’s sector position was less than the benchmark position) exposure to Health Care hurt relative results.

NetApp (Information Technology), Prudential Financial (Financials), and Seadrill (Energy) were the leading contributors to benchmark-relative performance in the equity portion of the Fund. Network storage equipment manufacturer NetApp reported better than expected quarterly earnings, driving shares higher. The company is gaining market share with its offering of low cost hardware combined with unified storage. Prudential Financial, a leading diversified financial services company, benefited as investors gained confidence that the worst of the financial crisis was behind the company. Shares rose after the firm reported better than expected first quarter earnings despite continued investment losses. Shares of Seadrill, an offshore drilling company, moved sharply higher amid rising oil prices and as the company reported better than expected operating profits. Top absolute contributors included Apple (Information Technology), Google (Information Technology), and Goldman Sachs (Financials).

The top detractors from the equity portion of the Fund’s relative performance were MetroPCS Communications (Telecommunication Services), SunPower (Industrials), and Wells Fargo (Financials). Shares of wireless broadband personal communications services company MetroPCS underperformed amid disappointing second quarter earnings results. Increasing competition in the pre-paid wireless market also led management to lower the outlook for average revenue per user. Shares of solar panel manufacturer SunPower moved lower after solar-sector peer First Solar commented on the potential risk of oversupply in the market. Diversified financial services company Wells Fargo saw its shares fall sharply as investors became concerned about the potential negative impact of the Wachovia acquisition on the company’s balance sheet. Las Vegas Sands (Consumer Discretionary) also detracted from absolute (i.e. total return) and relative returns.

The fixed income portion of the Fund also outperformed its benchmark for the period. Credit strategies provided the largest individual contribution to portfolio performance during the period, generating positive results in each quarter. Duration and currency strategies also aided results, while yield curve strategies were neutral and country strategies detracted. Performance among credit strategies was aided by an overweight allocation and favorable security selection among corporates, particularly in the first half of the year. CMBS and MBS positioning also provided a significant contribution to results. Currency strategies also aided results, benefiting from underweight euro positions in the first quarter and underweight Japanese yen positions in the final months of the year. Duration strategies provided a more modest contribution to results, producing favorable results during the second half of the year after opening the year weighed down by the underperformance of Japanese inflation-linked positions. Country strategies were the lone detractor during the year, negatively impacted by quantitative positions that favored the U.S. versus Germany in the closing months of the year.

What is the outlook?

Global economies continued the healing process during the latter part of the period. Our overall positioning is consistent with an improving economic outlook as aggressive stimulus measures have proven effective at providing liquidity and have eased financial market pressures. Against this backdrop, we continue to invest in globally competitive growth companies with accelerating fundamentals in the equity portion of the Fund. At the end of the period, our stock-by-stock investment process resulted in greater-than-benchmark weights in the cyclical Consumer Discretionary, Financials, and Information Technology sectors. The Fund held below-benchmark weights in the traditionally defensive Consumer Staples, Health Care, and Utilities sectors.

Our outlook for global bond markets continues to be driven by our assessment of the U.S. economic slowdown and the state of the global economic cycle. We believe a global recovery is underway, led by a strong rebound in industrial production, but consumer headwinds remain. Inflationary risks persist, driven by commodity prices, but deflationary pressures also exist as a result of the global output gap. Global policy responses have been unprecedented and global economies have begun to respond. The U.S. economy has seen signs of improvement in manufacturing and housing, and unemployment appears poised to decline in 2010. In Europe, activity appears to be stabilizing, the economy bolstered by stronger exports. Although the economy is stabilizing and commodity prices are higher, large excess capacity may put dampening pressure on Euro area core Consumer Price Inflation in the months ahead. While signs of improvement have emerged in the U.K., the sustainability of the improvement remains in question given low personal savings, continued contraction in credit, and the government’s large structural deficit. Overall, while conditions have clearly improved, some headwinds remain.

From an asset allocation standpoint, the Fund ended the period with an overweight to equities and underweights to fixed income and cash.

At a meeting held on August 5, 2009, the Board of Directors (“Board”) of Hartford Series Fund, Inc. (“Company”) approved a Form of Agreement

- 16 -

and Plan of Reorganization (“Reorganization Agreement”) that provides for the reorganization of Hartford Global Advisers HLS Fund (“Global Advisers HLS”), a series of the Company, into Hartford Advisers HLS Fund (“Advisers HLS”), another series of the Company (“Reorganization”). The Reorganization does not require shareholder approval. The Reorganization is expected to occur on or about March 19, 2010, or on such a date as the officers of the Company determine.

Diversification by Country

as of December 31, 2009

	Percentage of
Country	Net Assets
Australia		1.1	%
Belgium		0.1
Brazil		1.9
Canada		2.2
China		0.4
Denmark		0.9
Finland		0.0
France		1.5
Germany		10.0
Hong Kong		3.5
Ireland		0.2
Israel		1.0
Italy		0.5
Japan		9.5
Luxembourg		0.7
Malaysia		0.0
Mexico		0.1
Netherlands		0.2
Norway		0.4
Poland		0.1
Singapore		0.7
South Africa		0.1
Spain		1.3
Sweden		0.2
Switzerland		3.2
Taiwan		0.9
United Kingdom		8.6
United States		48.4
Short-Term Investments		4.5
Other Assets and Liabilities		(2.2	)
Total		100.0	%

Diversification by Security Type

as of December 31, 2009

	Percentage of
Category	Net Assets
Asset & Commercial Mortgage Backed Securities		1.5	%
Common Stocks		64.3
Corporate Bonds: Investment Grade		23.8
Corporate Bonds: Non-Investment Grade		0.0
U.S. Government Agencies		6.7
U.S. Government Securities		1.4
Short-Term Investments		4.5
Other Assets and Liabilities		(2.2	)
Total		100.0	%

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Equity Securities
Automobiles & Components (Consumer
Discretionary)		1.7	%
Banks (Financials)		3.8
Capital Goods (Industrials)		6.9
Consumer Durables & Apparel (Consumer
Discretionary)		1.8
Consumer Services (Consumer Discretionary)		1.9
Diversified Financials (Financials)		3.2
Energy (Energy)		5.8
Food & Staples Retailing (Consumer Staples)		0.9
Food, Beverage & Tobacco (Consumer
Staples)		2.0
Household & Personal Products (Consumer
Staples)		1.0
Insurance (Financials)		0.9
Materials (Materials)		7.0
Media (Consumer Discretionary)		0.6
Pharmaceuticals, Biotechnology & Life
Sciences (Health Care)		3.6
Real Estate (Financials)		0.7
Retailing (Consumer Discretionary)		5.7
Semiconductors & Semiconductor Equipment
(Information Technology)		2.5
Software & Service (Information Technology)		5.3
Technology Hardware & Equipment
(Information Technology)		7.7
Telecommunication Services (Services)		1.3
Fixed Income Securities
Arts, Entertainment and Recreation (Services)		0.0
Beverage and Tobacco Product Manufacturing
(Consumer Staples)		0.6
Chemical Manufacturing (Basic Materials)		0.3
Computer and Electronic Product
Manufacturing (Technology)		0.2
Electrical Equipment, Appliance
Manufacturing (Technology)		0.0
Finance and Insurance (Finance)		7.8
Food Manufacturing (Consumer Staples)		0.3
Foreign Governments (Foreign Governments)		12.3
Health Care and Social Assistance (Health
Care)		0.4
Information (Technology)		1.6
Mining (Basic Materials)		0.3
Miscellaneous Manufacturing (Capital Goods)		0.2
Motor Vehicle & Parts Manufacturing
(Consumer Cyclical)		0.2
Petroleum and Coal Products Manufacturing
(Energy)		0.4
Real Estate and Rental and Leasing (Finance)		0.2
U.S. Government Agencies (U.S. Government
Agencies)		6.7
U.S. Government Securities (U.S. Government
Securities)		1.4
Utilities (Utilities)		0.5
Short-Term Investments		4.5
Other Assets and Liabilities		(2.2	)
Total		100.0	%

- 17 -

Hartford Global Equity HLS Fundinception 1/31/2008

(subadvised by Wellington Management Company, LLP)

Investment goal – Seeks long-term capital appreciation.

Performance Overview (1) 1/31/08 - 12/31/09

Growth of $10,000 investment

MSCI All Country World Index is a free float-adjusted market-capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	Since
	Year	Inception
Global Equity IA	42.13%	-6.28%
Global Equity IB	41.79%	-6.51%
MSCI All Country World Index	35.41%	-7.70%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Mark D. Mandel, CFA	Cheryl M. Duckworth, CFA
Senior Vice President	Senior Vice President

How did the Fund perform?

The Class IA shares of the Hartford Global Equity HLS Fund returned 42.13% for the twelve-month period ended December 31, 2009, outperforming the Fund’s benchmark, the MSCI All Country World Index, which returned 35.41% for the same period. The Fund also outperformed the 33.08% return of the average fund in the Lipper Global Multi-Cap Core VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Broad global equity markets rose during the period, but this overall rise masks two significantly different market environments. From the beginning of 2009 through early March, stocks fell sharply reflecting deepening economic worries. From early March through December stocks rallied, as investors came to believe that a Depression-like scenario was less likely. In this environment, sector returns within the MSCI All Country World Index diverged widely for the twelve-month period ending December 31, 2009. Materials (+71%), Information Technology (+59%), and Consumer Discretionary (+45%) rose the most while returns in Utilities (+10%), Telecommunication Services (+18%), and Health Care (+20%) lagged on a relative (i.e. performance of the Fund as measured against the benchmark) basis.

The Fund’s outperformance versus the benchmark was driven by security selection, which was positive in nine of ten sectors. Stock selection was strongest in Energy, Financials, and Materials, while selection in Industrials detracted from relative performance. Sector allocation was modestly additive to relative performance due in part to our underweight (i.e. the Fund’s sector position was less than the benchmark position) exposure to the Consumer Staples and Telecommunication Services sectors and an overweight (i.e. the Fund’s sector position was greater than the benchmark position) allocation to Materials.

Top contributors to relative performance during the period included DnB Nor (Financials), Exxon Mobil (Energy), and Vale (Materials). Investors’ belief in the relative balance sheet strength of DnB Nor, a Norway-based financial services company, led shares higher. Holding an underweight position in Exxon Mobil, a large component of the benchmark, helped relative performance as the stock declined on the company's lower leverage to rising energy prices, large refining exposure, and its defensive characteristics and size. The stock price of Brazil-based diversified mining company Vale benefited from tight inventory levels and an improving outlook for iron ore demand and prices. Apple (Information Technology) was also a top contributor to absolute performance.

The largest detractors from relative returns were ACE (Financials), Eisai (Health Care), and Japan Tobacco (Consumer Staples). Shares of worldwide

- 18 -

property/casualty insurance company ACE fell on concerns about the pricing cycle. Japanese pharmaceutical company Eisai reduced its full-year earnings forecast due to costs associated with the acquisition of U.S.-based drug venture AkaRx. The company also faced declining U.S. sales of its blockbuster drug Aciphex and currency headwinds to earnings. Japan Tobacco’s shares declined as investors feared the new Japanese government would raise taxes on tobacco products. The shares were also weak on poor company performance in weak economic regions, such as Russia. Citigroup (Financials) and AXA (Financials) were also among the top detractors from absolute performance.

What is the outlook?

The global economic recovery appears to still be in its early stage. China led the acceleration initially, but now there are some signs that growth momentum is picking up in the U.S., Europe, and Japan, as well as certain emerging economies. In 2010, the recovery is expected to broaden geographically and across sectors. Looking into 2011, it remains an open question how the global economy will cope with the policy normalization required in many countries. There is no road map for reversing policies in the aftermath of a financial crisis. While the outlook remains uncertain, the strong equity market performance since March shows many investors are anticipating a recovery.

The Fund ended the period most overweight in the Consumer Discretionary, Information Technology, and Health Care sectors and most underweight the Industrials, Consumer Staples, and Financials sectors. The Fund’s largest absolute weightings were in the Financials, Information Technology, and Energy sectors.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer
Discretionary)		1.8	%
Banks (Financials)		11.2
Capital Goods (Industrials)		5.2
Commercial & Professional Services (Industrials)		0.0
Consumer Durables & Apparel (Consumer
Discretionary)		1.4
Consumer Services (Consumer Discretionary)		1.1
Diversified Financials (Financials)		5.3
Energy (Energy)		11.7
Food & Staples Retailing (Consumer Staples)		0.2
Food, Beverage & Tobacco (Consumer Staples)		6.7
Health Care Equipment & Services (Health Care)		3.0
Household & Personal Products (Consumer Staples)		0.4
Insurance (Financials)		2.8
Materials (Materials)		8.4
Media (Consumer Discretionary)		1.3
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		7.2
Real Estate (Financials)		0.6
Retailing (Consumer Discretionary)		4.9
Semiconductors & Semiconductor Equipment
(Information Technology)		2.0
Software & Service (Information Technology)		6.5
Technology Hardware & Equipment (Information
Technology)		4.9
Telecommunication Services (Services)		5.1
Transportation (Industrials)		2.1
Utilities (Utilities)		4.7
Short-Term Investments		1.4
Other Assets and Liabilities		0.1
Total		100.0	%

Diversification by Countryas of December 31, 2009

	Percentage of
Country	Net Assets
Australia		0.7	%
Austria		0.3
Belgium		0.5
Brazil		4.0
Canada		4.9
China		2.2
Denmark		0.4
France		3.7
Germany		2.5
Greece		0.0
Hong Kong		3.1
India		1.7
Indonesia		0.2
Ireland		0.5
Israel		0.9
Italy		0.8
Japan		4.4
Jersey		0.2
Korea (republic of)		0.1
Luxembourg		0.6
Malaysia		0.0
Netherlands		1.0
Norway		0.6
Philippines		0.0
Russia		1.6
Singapore		0.8
South Africa		0.4
South Korea		0.3
Spain		1.0
Sweden		0.2
Switzerland		3.2
Taiwan		1.0
Thailand		0.6
Turkey		0.3
United Kingdom		9.0
United States		46.8
Short-Term Investments		1.4
Other Assets and Liabilities		0.1
Total		100.0	%

- 19 -

Hartford Global Growth HLS Fund inception 9/30/1998

(subadvised by Wellington Management Company, LLP)

Investment goal – Seeks growth of capital.

Performance Overview (1) 12/31/99 - - 12/31/09

Growth of $10,000 investment

MSCI World Growth Index is a broad-based unmanaged market capitalization-weighted total return index which measures the performance of growth securities in 23 developed-country global equity markets including the U.S., Canada, Europe, Australia, New Zealand and the Far East.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	10
	Year	Year	Year
Global Growth IA	35.64%	-1.14%	-0.49%
Global Growth IB	35.31%	-1.39%	-0.72%
MSCI World Growth Index	33.85%	2.90%	-2.23%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Matthew D. Hudson, CFA	Andrew S. Offit, CPA	Jean-Marc Berteaux
Senior Vice President	Senior Vice President, Partner	Senior Vice President, Partner

How did the Fund perform?

The class IA shares of the Hartford Global Growth HLS Fund returned 35.64% for the twelve-month period ended December 31, 2009, outperforming the Fund’s benchmark, the MSCI World Growth Index, which returned 33.85% for the same period. The Fund underperformed the 40.18% return of the average fund in the Lipper Global Growth VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

During the twelve-month period ended December 31, 2009, global equities declined through March amid increasing signs of a deeper and more protracted recession and then rebounded strongly as governments around the world increased their involvement to help mitigate the financial crisis. Some encouraging economic data and better than expected corporate earnings boosted investors’ enthusiasm for stocks and the market rallied dramatically from its March lows. For the period, Growth stocks (+34%) significantly outperformed Value stocks (+28%) as measured by the MSCI World Growth Index and the MSCI World Value Indexes, respectively. Within the MSCI World Growth Index, all ten sectors posted positive returns. Materials (63%), Information Technology (55%), and Energy (47%) performed the best, while the defensive Utilities (6%), Health Care (21%), and Consumer Staples (+22%) sectors lagged.

The Fund’s outperformance versus its benchmark was primarily due to security selection, particularly within the Financials and Consumer Discretionary sectors; however, this was partially offset by weaker selection in Industrials and Telecommunication Services. Relative performance also benefited from the Fund’s underweights to Utilities and Consumer Staples; however, the Fund’s underweight (i.e. the Fund’s sector position was less than the benchmark position) exposure to Health Care and overweight (i.e. the Fund’s sector position was greater than the benchmark position) to Financials hurt relative (i.e. performance of the Fund as measured against the benchmark) results.

NetApp (Information Technology), Prudential Financial (Financials), and Goldman Sachs (Financials) were the leading contributors to benchmark-relative performance. Network storage equipment manufacturer NetApp reported better than expected quarterly earnings, driving shares higher. The company is gaining market share with its offering of low cost hardware combined with unified storage. Prudential Financial, a leading diversified financial services company, benefited as

- 20 -

investors gained confidence that the worst of the financial crisis was behind the company. Shares rose after the firm reported better than expected first quarter earnings despite continued investment losses. Shares of leading investment bank Goldman Sachs moved higher as investors were attracted to the firm’s relatively clean balance sheet and improved competitive positioning within the investment banking industry. Investors also rewarded the company for repaying its TARP funds. Top absolute contributors included Apple (Information Technology) and Google (Information Technology).

The top detractors from the Fund’s relative performance were MetroPCS Communications (Telecommunication Services), SunPower (Industrials), and Wells Fargo (Financials). Shares of wireless broadband personal communications services company MetroPCS underperformed amid disappointing second quarter earnings results. Increasing competition in the pre-paid wireless market also led management to lower the outlook for average revenue per user. Shares of solar panel manufacturer SunPower moved lower after solar-sector peer First Solar commented on the potential risk of oversupply in the market. Diversified financial services company Wells Fargo saw its shares fall sharply during the period the Fund owned the stock as investors became concerned about the potential negative impact of the Wachovia acquisition on the company’s balance sheet. Nintendo (Information Technology) also detracted from absolute (i.e. total return) and relative returns.

What is the outlook?

Global economies continued the healing process during the latter part of the period. Our overall positioning is consistent with an improving economic outlook as aggressive stimulus measures have proven effective at providing liquidity and have eased financial market pressures. Against this backdrop, we continue to invest in globally competitive growth companies with accelerating fundamentals.

Portfolio construction is a bottom-up (i.e. stock by stock fundamental research) process based on intensive company research. Allocations among sectors are the result of individual stock decisions. At the end of the period, our stock-by-stock investment process resulted in greater-than-benchmark weights in the cyclical Consumer Discretionary, Information Technology, and Financials sectors. The Fund held below-benchmark weights in the traditionally defensive Consumer Staples, Health Care, and Utilities sectors. In Consumer Discretionary, we believe the cyclically oriented sector should perform well in an economic recovery. Top positions relative to the benchmark at the end of December included Microsoft, Xstrata, and Oracle. Our below-benchmark weight in Health Care reflects the fact that we are finding limited opportunities for growth in that sector relative to companies in other sectors.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer
Discretionary)		2.6	%
Banks (Financials)		5.8
Capital Goods (Industrials)		10.7
Consumer Durables & Apparel (Consumer
Discretionary)		2.8
Consumer Services (Consumer Discretionary)		2.9
Diversified Financials (Financials)		4.9
Energy (Energy)		8.9
Food & Staples Retailing (Consumer Staples)		1.4
Food, Beverage & Tobacco (Consumer Staples)		3.0
Household & Personal Products (Consumer Staples)		1.5
Insurance (Financials)		1.5
Materials (Materials)		11.0
Media (Consumer Discretionary)		1.0
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		5.6
Real Estate (Financials)		1.1
Retailing (Consumer Discretionary)		8.9
Semiconductors & Semiconductor Equipment
(Information Technology)		3.8
Software & Service (Information Technology)		8.1
Technology Hardware & Equipment (Information
Technology)		11.8
Telecommunication Services (Services)		2.0
Short-Term Investments		0.7
Other Assets and Liabilities		–
Total		100.0	%

Diversification by Country

as of December 31, 2009

	Percentage of
Country	Net Assets
Brazil		2.5	%
Canada		2.6
China		0.7
Denmark		1.3
France		0.9
Germany		5.1
Hong Kong		5.7
Israel		1.6
Japan		7.8
Spain		1.2
Switzerland		4.7
Taiwan		1.4
United Kingdom		12.0
United States		51.8
Short-Term Investments		0.7
Other Assets and Liabilities		–
Total		100.0	%

- 21 -

Hartford Global Health HLS Fund inception 5/1/2000

(subadvised by Wellington Management Company, LLP)

Investment goal – Seeks long-term capital appreciation.

Performance Overview (1) 5/01/00 - 12/31/09

Growth of $10,000 investment

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

S&P North American Health Care Sector Index is a modified capitalization-weighted index based on United States headquartered health care companies. Stocks in the index are weighted such that each stock is no more than 7.5% of the market capitalization as of the most recent reconstitution date. The companies included in the index must be common stocks and be traded on the American Stock Exchange, Nasdaq or the New York Stock Exchange and meet certain established market capitalization levels.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	Since
	Year	Year	Inception
Global Health IA	22.72%	3.92%	8.85%
Global Health IB	22.41%	3.66%	8.59%
S&P 500 Index	26.45%	0.41%	-0.90%*
S&P North American Health
Care Sector Index	22.49%	3.67%	3.63%*

* Return is from 4/30/00

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Jean M. Hynes, CFA	Ann C. Gallo	Kirk J. Mayer, CFA	Robert L. Deresiewicz
Senior Vice President, Partner	Senior Vice President, Partner	Senior Vice President	Vice President

How did the Fund perform?

The Class IA shares of the Hartford Global Health Fund returned 22.72% for the twelve-month period ended December 31, 2009, versus the returns of 22.49% for the S&P North American Health Care Index and 26.45% for the S&P 500 Index. The Fund underperformed the 23.69% return of the average fund in the Lipper Global Health and Biotechnology VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

In early 2009, Presidents Obama’s administration unveiled a proposed budget, which called for funding for a national health insurance program. Health care stocks tumbled on the heels of the news. While HMO stocks were the hardest hit, selling was indiscriminate; even industries that stand to benefit from health care reform, such as generic drug makers, were dragged down in the sell-off. The health care reform legislation worked through Congress in the second half of the year, culminating in the U.S. Senate passing its version of health care legislation on December 24, 2009. The market now seems more comfortable with the likely impact of reform on the sector. After that very difficult start to the year, healthcare stocks demonstrated an impressive turnaround through the end of 2009.

- 22 -

Despite the turnaround, Health Care stocks (+22%) underperformed the broader U.S. market (+26%) and the global equity market (+31%) during the period, as measured by the S&P North American Health Care, S&P 500, and the MSCI World Indexes, respectively. Within the S&P North American Health Care Index, all four sub-sectors posted positive returns. Health Services (+37%), Medical Technology (+23%), and Major Pharmaceuticals (+21%) performed well. Specialty Pharmaceuticals/Biotechnology (+10%) lagged the other sub-sectors.

During the period, stock selection, particularly in Major Pharmaceuticals, was additive to relative (i.e. performance of the Fund as measured against the benchmark) results. Sector allocation, particularly our overweight (i.e. the Fund’s sector position was greater than the benchmark position) position in Specialty Pharmaceuticals/Biotechnology, detracted from relative performance.

Holdings of Incyte, Pfizer, and Abbott Laboratories were among the top contributors to benchmark-relative performance during the period. U.S.-based drug discovery and development company Incyte’s shares gained on improving financial results and significant collaboration and license agreements with Novartis for two hematology-oncology programs. Pfizer’s shares increased during the year as the market reacted favorably to the company’s acquisition of Wyeth. Shares of Abbott Laboratories declined as it reported unspectacular quarterly earnings in relation to the rest of the pharmaceutical industry. We sold our underweight (i.e. the Fund’s sector position was less than the benchmark position) position in benchmark component Abbott during the quarter, contributing positively to relative results. Top contributors to absolute (i.e. total return) performance also included Schering-Plough and Merck.

Holdings of Shionogi, Celera, and Progenics detracted from benchmark-relative performance. Japanese Specialty Pharmaceutical company Shionogi’s shares declined despite beating earnings expectations amid investors' concerns that a strong yen would weigh on the company's earnings, particularly from overseas sales of its blockbuster drug Crestor. Shares in molecular diagnostics company Celera fell during the period after the company announced 2009 guidance below analysts’ expectations. Specialty drug maker Progenics saw its shares decline throughout the year as sales for its most promising drug, RELISTOR, fell short of expectations. The drug also experienced delays in getting approval for chronic pain use. Top detractors from absolute performance included Specialty Pharmaceuticals company Medicines.

What is the outlook?

The broad markets rally was tapered somewhat during the fourth quarter, leading to outperformance of the health care sector. Starting the new year, we expect this trend to continue as the defensive qualities of the sector become more attractive to investors. While some versions of U.S. health care reforms will ultimately be passed, we remain comfortable with our belief that it will not greatly alter the fundamentals of the sector. We believe the impact will be manageable and, more importantly, that stocks are currently discounting an outcome that is unrealistically negative. We expect that resolution on the direction of reform will act as a positive catalyst for the sector in early 2010, driving multiples higher. We will continue to be mindful of other risks in the industry, such as a slower and conservative FDA, while using volatility in the market to make changes to the Fund.

Against this backdrop, the Fund ended the period most overweight in the Specialty Pharmaceuticals/Biotechnology sector and most underweight in the Major Pharmaceuticals sector relative to the benchmark.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry	Net Assets
Biotechnology		20.1	%
Drug Retail		1.0
Health Care Distributors		7.5
Health Care Equipment		21.3
Health Care Services		0.9
Health Care Technology		0.2
Life Sciences Tools & Services		1.8
Managed Health Care		11.2
Pharmaceuticals		35.5
Short-Term Investments		0.2
Other Assets and Liabilities		0.3
Total		100.0	%

Diversification by Country

as of December 31, 2009

	Percentage of
Country	Net Assets
Belgium		1.3	%
China		0.8
France		0.4
Germany		1.5
Ireland		3.2
Israel		2.7
Italy		1.0
Japan		6.3
Switzerland		0.8
United Kingdom		1.2
United States		80.3
Short-Term Investments		0.2
Other Assets and Liabilities		0.3
Total		100.0	%

- 23 -

Hartford Growth HLS Fund inception 4/30/2002

(subadvised by Wellington Management Company, LLP)

Investment goal – Seeks long-term capital appreciation.

Performance Overview (1) 4/30/02 - 12/31/09

Growth of $10,000 investment

Russell 1000 Growth Index is an unmanaged index which measures the performance of those Russell 1000 Index companies with higher price-to-book ratios and higher forecasted growth values.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	Since
	Year	Year	Inception
Growth IA	34.24%	-0.01%	3.40%
Growth IB	33.90%	-0.26%	3.14%
Russell 1000 Growth Index	37.21%	1.63%	2.46%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Andrew J. Shilling, CFA	John A. Boselli, CFA
Senior Vice President, Partner	Director, Partner

How did the Fund perform?

The Class IA shares of the Hartford Growth HLS Fund returned 34.24% for the twelve-month period ended December 31, 2009 underperforming the Fund’s benchmark, the Russell 1000 Growth Index, which returned 37.21% for the same period. The Fund underperformed the 37.97% return of the average fund in the Large-Cap Growth VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Broad U.S. equity markets rose during the period, but the overall results mask two significantly different market environments. From the beginning of January through early March stocks fell sharply, reflecting deepening economic worries and concerns over the U.S. government’s increasing involvement in the economy. From early March through December stocks rallied as investors came to believe that a Depression-like scenario was less likely.

Though all sectors of the Russell 1000 Growth Index had a positive return for the period, performance varied across sectors, with relative (i.e. performance of the Fund as measured against the benchmark) strength in Information Technology (+62%), Materials (+43%), and Consumer Discretionary (+43%) and relative weakness in Utilities (+17%), Consumer Staples (+17%), and Health Care (+22%). Growth stocks (+37%) significantly outperformed Value stocks (+20%), as measured by the Russell 1000 Growth and Russell 1000 Value indices.

The Fund’s underperformance versus its benchmark was primarily due to security selection. Weaker results from our selection of Information Technology, Financials, and Consumer Discretionary stocks detracted from performance versus the benchmark, though this was partially offset by the Fund’s strong selection in Energy. The Fund benefitted from its sector positioning, which is a fallout of the bottom-up (i.e. stock by stock fundamental research) stock selection process. In particular, underweight (i.e. the Fund’s sector position was less than the benchmark position) positions in Consumer Staples and Health Care, in addition to an overweight (i.e. the Fund’s sector position was greater than the benchmark position) position in Information Technology, helped relative results.

Apollo Group (Consumer Discretionary), Wells Fargo (Financials), and Nintendo (Information Technology) were the top detractors from relative performance during the period. For-profit education provider Apollo Group, which operates the University of Phoenix among other institutions, saw share price weakness after the firm announced an

- 24 -

informal SEC investigation into its revenue recoginition practices. Shares of diversified financial services company Wells Fargo declined as the company raised capital to repay TARP. Nintendo, the manufacturer of the Wii console and DS handheld games, saw its share price decline amid expected steep profit declines. We eliminated our position in Nintendo during the period. Insurer MetLife (Financials) and diversified capital markets company State Street (Financials) were top detractors from absolute (i.e. total return) performance.

Top contributors to benchmark-relative returns were NetApp (Information Technology), Exxon Mobil (Energy), and Wal-Mart Stores (Consumer Staples). Network storage equipment manufacturer NetApp reported better than expected quarterly earnings, driving shares higher. The company is gaining market share with its offering of low cost hardware combined with unified storage. Shares of Exxon Mobil, a large diversified energy company, declined due to the company’s large refining exposure and disappointing quarterly earnings. Not owning the stock, a component of the benchmark, contributed positively to relative returns. Shares of Wal-Mart, the world’s largest retailer, stagnated during the period as investors favored companies that they believe may benefit more from a rebound in consumer spending. We did not own the stock, which contributed to relative performance. Apple (Information Technology) and TJX Companies (Consumer Discretionary) were also top contributors to absolute returns.

What is the outlook?

It is increasingly clear that the U.S. is emerging from a deep recession. The rate of increase in unemployment has slowed, leading indicators in industrial production are pointing to an expansion, and the housing market has shown some signs of stabilization. The government continues to reshape the financial playing field through stimulus packages, massive loans to impaired private sector companies, and other programs, all taken with an eye towards thawing credit markets and placing a floor on the house price declines and a ceiling on housing inventory. These moves should continue to help mitigate some of the negative economic pressures, and while the outlook remains uncertain, the strong equity market performance since March shows investors are anticipating a recovery.

In this environment we continue to focus our efforts on stock-by-stock fundamental research, picking one stock at a time based upon the attractiveness of each company’s fundamentals and valuation. As a result of this bottom-up stock selection, at the end of the period our largest overweight positions versus the benchmark were Financials, Information Technology, and Consumer Discretionary. Consumer Staples, Health Care, and Utilities were the Fund’s largest underweight positions at the end of the period.

At a meeting held on August 5, 2009, the Board of Directors (“Board”) of Hartford Series Fund, Inc. (“Company”) approved a Form of Agreement and Plan of Reorganization (“Reorganization Agreement”) that provides for the reorganization of Hartford Fundamental Growth HLS Fund (“Fundamental Growth HLS”), a series of the Company, into Hartford Growth HLS Fund (“Growth HLS”), another series of the Company (“Reorganization”). The Reorganization does not require shareholder approval. The Reorganization is expected to occur on or about April 16, 2010, or on such a date as the officers of the Company determine.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer
Discretionary)		2.3	%
Banks (Financials)		4.6
Capital Goods (Industrials)		11.7
Consumer Durables & Apparel (Consumer
Discretionary)		2.4
Consumer Services (Consumer Discretionary)		4.4
Diversified Financials (Financials)		5.0
Energy (Energy)		9.6
Health Care Equipment & Services (Health Care)		1.1
Insurance (Financials)		3.1
Materials (Materials)		4.3
Media (Consumer Discretionary)		1.1
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		0.8
Retailing (Consumer Discretionary)		6.7
Semiconductors & Semiconductor Equipment
(Information Technology)		4.0
Software & Service (Information Technology)		20.2
Technology Hardware & Equipment (Information
Technology)		16.3
Transportation (Industrials)		1.9
Short-Term Investments		0.8
Other Assets and Liabilities		(0.3	)
Total		100.0	%

- 25 -

Hartford Growth Opportunities HLS Fund inception 3/24/1987

(subadvised by Wellington Management Company, LLP)

Investment goal – Seeks capital appreciation.

Performance Overview (1) 12/31/99 - - 12/31/09

Growth of $10,000 investment

Russell 1000 Growth Index is an unmanaged index which measures the performance of those Russell 1000 Index companies with higher price-to-book ratios and higher forecasted growth values.

Russell 3000 Growth Index is an unmanaged index that measures the performance of those Russell 3000 Index companies with higher price-to-book ratios and higher forecasted growth values.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns(2) (as of 12/31/09)

	1	5	10
	Year	Year	Year
Growth Opportunities IA	29.61%	3.54%	1.53%
Growth Opportunities IB	29.29%	3.29%	1.28%
Russell 1000 Growth Index	37.21%	1.63%	-3.99%
Russell 3000 Growth Index	37.01%	1.58%	-3.79%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2) Class IB shares commenced on May 1, 2002. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Michael T. Carmen, CFA, CPA	Mario E. Abularach, CFA, CMT
Senior Vice President, Partner	Vice President

How did the Fund perform?

The Class IA shares of the Hartford Growth Opportunities HLS Fund returned 29.61% for the twelve-month period ended December 31, 2009, versus the returns of 37.21% for the Russell 1000 Growth Index and 37.01% for the Russell 3000 Growth Index. The Fund underperformed the 40.72% return of the average fund in the Lipper Multi-Cap Growth VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The period was marked by two drastically separate episodes. The first was a freefall of global equity markets from the end of 2008 through March 2009. This was characterized by uncertainty over the U.S. government stimulus package, tight global credit and liquidity conditions, a collapse of global industrial production, and sharp increases in unemployment. The second episode of increased investor risk appetite and rapidly rising equity markets started in March with nascent signs of a bottoming in the fortunes of the financial industry, coupled with aggressive intervention by the Federal Reserve in the capital markets, and better than expected corporate profits due to cost cutting. Signs of economic stabilization overshadowed concerns about high unemployment and weak home prices.

Mid cap stocks (37.4%) outperformed their larger cap (26.5%) and smaller cap (27.2%) counterparts as measured by the S&P MidCap 400 Index, S&P 500 Index, and Russell 2000 Index, respectively. Growth stocks (37.0%) significantly out-paced value (19.8%) during the period, as measured by the Russell 3000 Growth and Russell 3000 Value indices. All ten sectors of the Russell 3000 Growth Index (37.1%) rose during the period. The Information Technology (61.9%), Consumer Discretionary (44.2%), and Materials (43.0%) sectors rose the most while Utilities (16.6%) and Consumer Staples (17.5%) lagged on a

- 26 -

relative (i.e. performance of the Fund as measured against the benchmark) basis.

The Fund lagged its benchmark primarily due to weak security selection. Stock selection was weakest in the Financials, Health Care, and Information Technology sectors, while results were more favorable in the Materials, Consumer Staples, and Energy sectors. Sector allocation, a residual of bottom-up (i.e. stock by stock fundamental research) stock selection, also detracted from results due in part to an underweight (i.e. the Fund’s sector position was less than the benchmark position) to Information Technology and an overweight (i.e. the Fund’s sector position was greater than the benchmark position) to Financials, which more than offset the benefit of being underweight to Consumer Staples.

The top relative detractors in the Fund during the period were HUGHES Telematic (Information Technology), Cephalon (Health Care), and Apple (Information Technology). Shares of HUGHES Telematics, an after-market provider of next generation telematics for the automobile industry, declined due to concerns over slowing industry sales. Cephalon’s stock price fell as investors remained concerned over the impact of generic substitutes on the company's sleep disorder franchise. Consumer electronics company Apple performed well during the period despite slowing consumer trends. We initiated a position during the period, but not holding the benchmark component stock throughout the entire period detracted from relative performance. Top absolute detractors included Delta Air Lines (Industrials) and State Street (Financials). We eliminated both of these positions during the period.

Among the top relative contributors to performance in the Fund during the period were Jarden (Consumer Discretionary), Goldman Sachs (Financials), and Red Hat (Information Technology). Jarden, a consumer products company with a portfolio of niche brands, posted better than expected profits, helped by cost cuts and market share gains in some segments. Shares of Goldman Sachs, a U.S. investment bank and bank holding company, benefited from the firm's relatively healthy balance sheet, strong trading results, and improved competitive positioning within the investment banking industry. Investors were also pleased that the firm repaid its TARP funds during the period. Open-source enterprise software and services company Red Hat benefited from growing revenue and higher margins as IT organizations moved ahead with purchases of the firm’s high value software solutions. Despite being a relative detractor, Apple was also among the top absolute contributors to the Fund’s performance.

What is your outlook?

It is increasingly clear that the U.S. is emerging from a deep recession. The rate of increase in unemployment has slowed, industrial production leading indicators are pointing to an expansion, and the housing market has shown some signs of stabilization. The government continues to reshape the financial playing field through stimulus packages, massive loans to impaired private sector companies, and other programs, all taken with an eye towards thawing the credit markets and placing a floor on the house price declines and a ceiling on housing inventory.

We see investment opportunities across multiple sectors and continue to focus our research efforts on identifying stocks of companies whose future growth is underpriced. At the end of the period, our bottom-up decisions resulted in overweights to the Consumer Discretionary, Information Technology, and Financials sectors and underweights to the Consumer Staples, Industrials, and Health Care sectors relative to the Russell 3000 Growth Index.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer
Discretionary)		1.3	%
Banks (Financials)		1.0
Capital Goods (Industrials)		6.5
Consumer Durables & Apparel (Consumer
Discretionary)		3.2
Consumer Services (Consumer Discretionary)		1.7
Diversified Financials (Financials)		4.5
Energy (Energy)		6.0
Health Care Equipment & Services (Health Care)		6.6
Household & Personal Products (Consumer Staples)		0.9
Insurance (Financials)		0.9
Materials (Materials)		6.1
Media (Consumer Discretionary)		1.1
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		7.9
Real Estate (Financials)		1.1
Retailing (Consumer Discretionary)		9.5
Semiconductors & Semiconductor Equipment
(Information Technology)		6.7
Software & Service (Information Technology)		16.2
Technology Hardware & Equipment (Information
Technology)		14.9
Telecommunication Services (Services)		1.2
Transportation (Industrials)		1.8
Short-Term Investments		1.9
Other Assets and Liabilities		(1.0	)
Total		100.0	%

- 27 -

Hartford High Yield HLS Fund inception 9/30/1998

(subadvised by Hartford Investment Management Company)

Investment goal – Seeks high current income. Growth of capital is a secondary objective.

Performance Overview (1) 12/31/99 - - 12/31/09

Growth of $10,000 investment

Barclays Capital U.S. Corporate High Yield Bond Index is an unmanaged broad-based market value-weighted index that tracks the total return performance of non-investment grade, fixed-rate, publicly placed, dollar denominated and nonconvertible debt registered with the SEC.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	10
	Year	Year	Year
High Yield IA	50.46%	5.59%	5.31%
High Yield IB	50.08%	5.33%	5.06%
Barclays Capital U.S. Corporate
High Yield Bond Index	58.06%	6.44%	6.70%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Mark Niland, CFA	James Serhant, CFA	Carlos Feged
Managing Director	Senior Vice President, Senior Investment Analyst	Senior Vice President

How did the Fund perform?

The Class IA Shares of the Hartford High Yield HLS Fund returned 50.46% for the twelve-month period ended December 31, 2009, underperforming its benchmark, the Barclays Capital U.S. Corporate High Yield Bond Index, which returned 58.06%, but outperforming the Lipper High Current Yield VP-UF Funds category, a group of funds with investment strategies similar to those of the Fund, which returned 43.48%.

Why did the Fund perform this way?

The High Yield market ended the year with another good quarter by historical standards, with December performance capping off the best calendar year ever for the High Yield market, trumping the previous high mark set in 1991.

However, the Fund’s defensive positioning (relative to the index) in the beginning of the year and a significant underweight (i.e. the Fund’s sector position was less than the benchmark position) allocation to the Financial Sector caused the Fund to severely lag the benchmark during the first five months of 2009. Our adherence to a bottom-up (i.e. stock by stock fundamental research), value-oriented investment strategy meant that the Fund had significant under-weights in the sectors that we expected to be the most impacted by the drop-off in the economy, such as Autos, Manufacturing, Consumer Cyclicals, and most significantly, Financials. These sectors turned out to be among the best performers in 2009, as depressed values trumped weak earnings outlooks from companies.

The Fund has historically shunned High Yield Financials, given our view that their cost of capital renders them at an inherent disadvantage to their more highly rated competitors. In addition, the federal government’s erratic involvement in the sector (saving Bear Stearns, letting Lehman Brothers fail) hindered us from developing an investable framework consistent with our process.

The results of the federal government’s stress tests of the 19 largest banks in early May provided a more realistic sense of undercapitalization, and the reassurance that none of the 19 banks would be allowed to fail. This assurance allowed the Fund to more reliably implement our bottom-up credit selection process in Financials. Around this same time, the Fund also added risk by allocating to Industrial sectors where our ability to value companies and their debt securities improved as earnings stabilized. By the end of June, the risk in the Fund was more consistent with the broader High Yield market and after June 2009, the Fund’s returns kept pace with the upward trend in the market.

- 28 -

What is the outlook?

While the High Yield market cannot repeat the strong performance of 2009, market momentum remains strong entering 2010. With the economic recovery most likely at hand and 2010/2011 debt maturities for High Yield companies largely refinanced by record new issuance in 2009, defaults are poised to drop dramatically. We forecast the 2010 default rate to be 4-5%, down from more than 14% in 2009.

With yields in other asset classes remaining historically low, we expect the search for yield to continue. This should drive money into the High Yield asset class and continue to push spreads tighter (i.e. short and long term interest rates moving closer together), at least for the first half of the year.

Earnings will be a key driver of performance in 2010, and since year-over-year comparisons should be easy, any disappointments will likely lead the market to price in higher default probabilities for the offending issuers. In addition to earnings, we expect positive “event risk” to support the market in the coming months. Specifically, we expect Leveraged Buy Out (LBO) firms to seek to monetize the more successful LBOs via Initial Public Offering, and we see merger and acquisition activity accelerating which should be a positive catalyst for the High Yield market.

As long as monetary policy remains extraordinarily easy, High Yield will benefit from the “reach for yield”. The longer this goes on, the worse it is likely to be when accommodative policy is removed. In addition, regulatory changes on the horizon in Healthcare, Utilities and the Financial sectors could materially alter the fundamental picture going forward. As the market begins to digest the changes being implemented by the federal government on these and other matters, it will begin to price in the implications for the economy in 2011 and beyond sometime this year, which we view as a potential source of volatility.

We are starting to position the Fund to weather increased volatility, moving into shorter duration bonds and favoring senior parts of the capital structure. We will continue to invest down the capital structure where we see value, but we will have discipline about the yield premiums we require to take on the additional risk.

Diversification by Security Type

as of December 31, 2009

	Percentage of
Category	Net Assets
Asset & Commercial Mortgage Backed Securities		0.0	%
Common Stocks		0.7
Corporate Bonds: Investment Grade		1.1
Corporate Bonds: Non-Investment Grade		89.0
Preferred Stocks		0.6
Senior Floating Rate Interests: Non-Investment Grade		6.3
Warrants		0.1
Short-Term Investments		0.4
Other Assets and Liabilities		1.8
Total		100.0	%

Distribution by Credit Quality

as of December 31, 2009

	Percentage of
	Long-Term
Rating	Holdings
BBB		1.9	%
BB		20.9
B		42.1
CCC		29.4
CC		3.1
C		0.4
Not Rated		2.2
Total		100.0	%

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Equity Securities
Automobiles & Components (Consumer
Discretionary)		1.4	%
Banks (Financials)		0.0
Fixed Income Securities
Accommodation and Food Services (Services)		2.1
Administrative Waste Management and
Remediation (Services)		1.1
Agriculture, Forestry, Fishing and Hunting
(Consumer Staples)		2.3
Air Transportation (Transportation)		1.1
Apparel Manufacturing (Consumer Cyclical)		2.0
Arts, Entertainment and Recreation (Services)		9.4
Beverage and Tobacco Product Manufacturing
(Consumer Staples)		0.3
Chemical Manufacturing (Basic Materials)		2.0
Computer and Electronic Product
Manufacturing (Technology)		2.3
Construction (Consumer Cyclical)		1.4
Fabricated Metal Product Manufacturing
(Basic Materials)		0.6
Finance and Insurance (Finance)		11.3
Food Manufacturing (Consumer Staples)		1.1
Food Services (Consumer Cyclical)		0.4
Furniture and Related Product Manufacturing
(Consumer Cyclical)		0.5
Health Care and Social Assistance (Health
Care)		7.0
Information (Technology)		14.0
Machinery Manufacturing (Capital Goods)		1.2
Mining (Basic Materials)		1.4
Miscellaneous Manufacturing (Capital Goods)		1.3
Motor Vehicle & Parts Manufacturing
(Consumer Cyclical)		4.2
Paper Manufacturing (Basic Materials)		2.3
Petroleum and Coal Products Manufacturing
(Energy)		6.6
Pipeline Transportation (Utilities)		1.6
Plastics and Rubber Products Manufacturing
(Basic Materials)		0.7
Primary Metal Manufacturing (Basic
Materials)		0.8
Printing and Related Support Activities
(Services)		0.8
Professional, Scientific and Technical Services
(Services)		3.0
Real Estate and Rental and Leasing (Finance)		1.7
Retail Trade (Consumer Cyclical)		4.4
Textile Product Mills (Consumer Cyclical)		0.4
Utilities (Utilities)		5.6
Water Transportation (Transportation)		0.8
Wholesale Trade (Consumer Cyclical)		0.7
Short-Term Investments		0.4
Other Assets and Liabilities		1.8
Total		100.0	%

- 29 -

Hartford Index HLS Fund inception 5/1/1987

(subadvised by Hartford Investment Management Company)

Investment goal – Seeks to provide investment results which approximate the price and yield performance of publicly traded common stocks in the aggregate.

Performance Overview (1) 12/31/99 - - 12/31/09

Growth of $10,000 investment

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	10
	Year	Year	Year
Index IA	26.15%	0.14%	-1.31%
Index IB	25.81%	-0.11%	-1.54%
S&P 500 Index	26.45%	0.41%	-0.95%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Manager

Deane Gyllenhaal

Vice President

How did the Fund perform?

The Class IA shares of the Hartford Index HLS Fund returned 26.15% for the twelve-month period ended December 31, 2009, underperforming its benchmark, the S&P 500 Index, which returned 26.45%, and outperforming the Lipper S&P 500 Index Objective VP-UF Funds category, a group of funds with investment strategies similar to those of the Fund, which returned 26.10%.

Why did the Fund perform this way?

By design, the Fund is managed to mimic the performance of the S&P 500 Index. The performance of the Fund only marginally differed from that of the benchmark for the twelve-month period. Sources of return variance include trading costs, cash exposure in volatile markets, and the lack of exposure to Hartford Financial Services Group in the portfolio. The Fund lost about three basis points due to the lack of Hartford Financial Services Group exposure. Because of internal Hartford Investment Management Company (HIMCO) policy, the Fund does not purchase stock of HIMCO's parent, The Hartford Financial Services Group, Inc (a component of the index). This exposure is reallocated across the Life/Health Insurance, Property/Casualty Insurance and Multi-line Insurance industries.

After a disappointing return in the first quarter, the markets (and the S&P 500 Index benchmark) rallied from early March through the end of the year. All ten of the ten sectors in the benchmark had positive returns. Information Technology led the way, up 61.7% during 2009. Materials then gained 48.6%, which was followed by Consumer Discretionary rising 41.3% over the same period. The lowest return for the year was Telecom Services, which was up 8.9%. Utilities was the second worst performing sector, gaining 11.9%

Looking at individual stocks within the benchmark, there were many high performers for the year, due to the sharp market recovery. XL Capital, an insurer and reinsurer, led the way, returning 419.8% for the year, followed by Tenet Healthcare Corp, which rose 368.7% and Advanced Micro Devices which gained 348.2%. The laggards within the S&P 500 Index were led by financial companies. There were a number of companies that were dropped as constituents of the Index that produced significant negative returns. Of the stocks that remained in the index, Marshall & Isley, a financial services provider, fell about 60% for the year. Huntington Bancshares followed closely behind, dropping 51.6%.

- 30 -

What is the outlook?

In 2009 equities rallied in one of the strongest and fastest bear market recoveries on record. Like previous recession rallies, the market rose by means of a rapid expansion in valuation multiples as earnings growth decelerated. However, this "junk" rally, which was led by stocks with no earnings, low profitability, high beta, and low S&P ratings, seems to be abating. Investors may focus on the direction of the U.S. dollar in 2010 along with the level of interest rates and how that change may impact credit going forward. Another popular theme we will be monitoring is how U.S. corporations will grow their top lines (i.e revenue) after slashing costs in 2009.

The Fund will continue to be invested in the S&P 500 Index, with a focus on risk control and efficient trading. Performance of the Fund is expected to be similar to that of the index.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer
Discretionary)		0.6	%
Banks (Financials)		2.8
Capital Goods (Industrials)		7.4
Commercial & Professional Services (Industrials)		0.6
Consumer Durables & Apparel (Consumer
Discretionary)		0.9
Consumer Services (Consumer Discretionary)		1.7
Diversified Financials (Financials)		7.8
Energy (Energy)		11.3
Food & Staples Retailing (Consumer Staples)		2.6
Food, Beverage & Tobacco (Consumer Staples)		5.7
Health Care Equipment & Services (Health Care)		4.1
Household & Personal Products (Consumer Staples)		2.8
Insurance (Financials)		2.4
Materials (Materials)		3.5
Media (Consumer Discretionary)		2.9
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		8.3
Real Estate (Financials)		1.2
Retailing (Consumer Discretionary)		3.4
Semiconductors & Semiconductor Equipment
(Information Technology)		2.6
Software & Service (Information Technology)		7.9
Technology Hardware & Equipment (Information
Technology)		9.2
Telecommunication Services (Services)		3.1
Transportation (Industrials)		2.1
Utilities (Utilities)		3.7
Short-Term Investments		1.4
Other Assets and Liabilities		–
Total		100.0	%

- 31 -

Hartford International Growth HLS Fund inception 4/30/2001

(subadvised by Wellington Management Company, LLP)

Investment goal – Seeks capital appreciation.

Performance Overview (1) 4/30/01 - 12/31/09

Growth of $10,000 investment

MSCI EAFE Growth Index is a free float-adjusted market capitalization index that is designed to measure developed market equity performance (excluding the U.S. and Canada) of the growth securities within the MSCI EAFE Index.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower

Average Annual Returns (as of 12/31/09)

	1	5	Since
	Year	Year	Inception
International Growth IA	28.67%	-1.92%	2.29%
International Growth IB	28.34%	-2.16%	2.05%
MSCI EAFE Growth Index	29.91%	4.02%	3.44%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
John A. Boselli, CFA	Matthew D. Hudson, CFA	Andrew S. Offit, CPA	Jean-Marc Berteaux
Director, Partner	Vice President	Senior Vice President, Partner	Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of the Hartford International Growth HLS Fund returned 28.67% for the twelve-month period ended December 31, 2009, underperforming the Fund’s benchmark, the MSCI EAFE Growth Index, which returned 29.91% for the same period. The Fund also underperformed the 38.44% return of the average fund in the Lipper International Growth VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Global equities declined during the first part of the period amid increasing signs of a deeper and more protracted recession and then rebounded dramatically in the second part of the period as governments around the world increased their involvement to help mitigate the financial crisis. Better than expected corporate earnings and generally improving economic data boosted investors’ enthusiasm for stocks. Within the MSCI EAFE Growth Index, all sectors posted positive returns during the period. Materials (79%), Energy (37%), and Consumer Discretionary (31%) gained the most during the period, while Utilities (6%) and Information Technology (19%) lagged.

Weak security selection in the Materials, Telecommunication Services, and Financials sector contributed to underperformance relative to the benchmark. This was partially offset by favorable security selection in the Information Technology sector. Sector allocation, which is a residual of bottom-up (i.e. stock by stock fundamental research) stock selection, helped relative (i.e. performance of the Fund as measured against the benchmark) performance largely due to the Fund’s underweight (i.e. the Fund’s sector position was less than the benchmark position) exposure to Utilities and Financials during the period.

BHP Billiton (Materials), Allianz (Financials), and Westpac Banking (Financials) detracted most from relative performance. During the early part of the period, shares of Materials company BHP Billiton outperformed due to its strong cash flow generation and relatively healthy balance sheet. We initiated a position during the period, but not holding the benchmark component stock throughout the entire period detracted from relative performance. Shares of German insurer Allianz fell due to the company’s exposure to declining asset markets early in the period. Shares of Westpac, one of the largest banks in Australia, surged along with other Australian financials as concerns about asset quality eased. Not owning the stock, which is a component of the benchmark, detracted from relative performance. Other detractors from

- 32 -

the Fund’s absolute (i.e. total return) performance included Nintendo (Information Technology) and Munich Re (Financials).

Top contributors to the Fund’s relative performance were Autonomy (Information Technology), Volkswagen (Consumer Discretionary), and ARM Holding (Information Technology). Leading British software company Autonomy announced better than expected earnings, reflecting strong demand for its services and driving shares higher. The Fund benefited on a relative basis by not holding German car maker Volkswagen, which is a component of the benchmark. The stock continued to fall after the rapid appreciation seen in October 2008, which had been driven by Porsche’s move to take a controlling stake in the company. Shares of U.K. microchip company ARM Holdings rose despite a small revenue decline during the period, as the company is well-positioned for growth during economic recovery. Other contributors to the Fund’s absolute performance included Standard Charter (Financials) and Rio Tinto (Materials).

What is the outlook?

Global economies continued the healing process during the latter part of the period. Our overall positioning is consistent with an improving economic outlook as aggressive stimulus measures have proven effective at providing liquidity and have eased financial market pressures. Against this backdrop, we continue to seek globally competitive growth companies within industries with improving fundamentals.

We select stocks individually based on their merits. During the period we increased our exposure to the cyclically oriented Industrials and Consumer Discretionary sectors and decreased our exposure to the traditionally defensive Health Care and Consumer Staples sectors. As a result, Industrials was the Fund’s largest absolute weight and largest overweight (i.e. the Fund’s sector position was greater than the benchmark position) exposure relative to the benchmark at the end of the period. Other sectors where we ended the period with above-benchmark weights included Information Technology and Energy. The Fund held less-than-benchmark weights in the Consumer Staples, Financials, and Telecommunication Services sectors at the end of the period.

At a meeting held on August 5, 2009, the Board of Directors (“Board”) of Hartford Series Fund, Inc. (“Company”) approved the Forms of Agreement and Plans of Reorganization (“Reorganization Agreements”) that provide for the reorganization of each of two series of the Company, Hartford International Growth HLS Fund and Hartford International Small Company Fund (each, an “Acquired Fund”, and collectively the “Acquired Funds”), into another series of the Company, Hartford International Opportunities HLS Fund (“Reorganizations”). The Reorganizations do not require shareholder approval. The Reorganizations are expected to occur on or about April 16, 2010, or on such a date as the officers of the Company determine.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer
Discretionary)		1.2	%
Banks (Financials)		7.9
Capital Goods (Industrials)		8.0
Commercial & Professional Services (Industrials)		1.7
Consumer Durables & Apparel (Consumer
Discretionary)		1.7
Consumer Services (Consumer Discretionary)		4.8
Diversified Financials (Financials)		1.4
Energy (Energy)		4.6
Food & Staples Retailing (Consumer Staples)		0.6
Food, Beverage & Tobacco (Consumer Staples)		7.3
Health Care Equipment & Services (Health Care)		2.4
Household & Personal Products (Consumer Staples)		3.3
Insurance (Financials)		2.9
Materials (Materials)		14.9
Media (Consumer Discretionary)		3.0
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		8.3
Real Estate (Financials)		1.6
Retailing (Consumer Discretionary)		1.1
Semiconductors & Semiconductor Equipment
(Information Technology)		1.9
Software & Service (Information Technology)		6.6
Technology Hardware & Equipment (Information
Technology)		2.1
Telecommunication Services (Services)		1.9
Transportation (Industrials)		6.7
Utilities (Utilities)		2.1
Short-Term Investments		2.1
Other Assets and Liabilities		(0.1	)
Total		100.0	%

Diversification by Country

as of December 31, 2009

	Percentage of
Country	Net Assets
Australia		7.0	%
Austria		1.6
Brazil		2.9
Canada		8.2
China		3.5
France		5.7
Germany		5.8
Hong Kong		2.1
India		0.5
Indonesia		0.4
Israel		3.4
Italy		0.8
Japan		5.7
Luxembourg		2.6
Netherlands		2.2
Singapore		1.8
South Korea		0.7
Spain		4.0
Sweden		1.2
Switzerland		10.5
Taiwan		1.1
Thailand		0.4
Turkey		1.5
United Kingdom		22.8
United States		1.6
Short-Term Investments		2.1
Other Assets and Liabilities		(0.1	)
Total		100.0	%

- 33 -

Hartford International Opportunities HLS Fund inception 7/2/1990

(subadvised by Wellington Management Company, LLP)

Investment goal – Seeks long-term growth of capital.

Performance Overview (1) 12/31/99 - - 12/31/09

Growth of $10,000 investment

MSCI All Country World ex U.S. Index is a broad-based, unmanaged, market capitalization weighted, total return index that measures the performance of both developed and emerging stock markets, excluding the U.S. The index is calculated to exclude companies and share classes which cannot be freely purchased by foreigners.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	10
	Year	Year	Year
International Opportunities IA	33.46%	6.98%	1.99%
International Opportunities IB	33.13%	6.71%	1.75%
MSCI All Country World ex U.S. Index	42.14%	6.30%	3.11%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Manager

Nicolas M. Choumenkovitch

Senior Vice President and Partner

How did the Fund perform?

The Class IA of The Hartford International Opportunities Fund returned 33.46% for the twelve-month period ended December 31, 2009, underperforming the Fund’s benchmark, the MSCI All Country World ex U.S. Index, which returned 42.14% for the same period. The Fund outperformed the 31.95% return of the average fund in the Lipper International Core Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

After a tumultuous start, global equities finished 2009 up sharply from the beginning of the year. Extraordinary government measures helped to stabilize global economies and markets throughout the year, while low interest rates, better than expected corporate earnings, and improving economic data provided a favorable backdrop for equities. Within the MSCI AC All Country World ex U.S. Index, all ten sectors within the index posted positive absolute (i.e. total return) returns. Materials, Information Technology, and Energy led the index higher, while Utilities rose the least. All global regions were also positive with Emerging Markets leading the returns.

The Fund’s underperformance versus its benchmark was largely due to weak stock selection, particularly within Financials, Energy, and Industrials. Sector and regional allocation, a fall-out of the stock selection process, was also slightly negative due to an underweight (i.e. the Fund’s sector position was less than the benchmark position) to Emerging Markets.

The largest detractors from relative (i.e. performance of the Fund as measured against the benchmark) returns were Swiss financial services provider UBS (Financials) and two Japanese financial services providers: SMFG (Financials) and MUFG (Financials). Shares of UBS fell early in the period when the firm posted a larger than expected loss in the first quarter of 2009, due in part to a charge related to the transfer of risky assets to a fund managed by the Swiss National Bank, which was part of a rescue package set up by the Swiss government. Shares of SMFG and MUFG, two of Japan’s largest financial services firms, were weighed down due to the fact that stricter international financial regulations are expected to negatively impact the earnings of Japanese megabanks.

- 34 -

Significant detractors from absolute returns included France Telecom (Telecommunication Services), Nippon Telegraph and Telephone (Telecommunication Services) and East Japan Railways (Industrials).

Top contributors to relative performance during the period included Rio Tinto (Materials), Xstrata (Materials) and HSBC (Financials). Shares of diversified international mining company Rio Tinto rose as increasing prices for industrial metals provided a tailwind for the stock. In addition, the company’s announcement of a proposed iron ore joint venture with BHP Billiton also helped Rio Tinto’s stock performance. Shares of global mining company Xstrata rose on increasing industrial metals pricing and an improving demand outlook from China and India. Shares of Swiss private bank HSBC rose from the recovery in the global markets and improving market share in China and other emerging markets.

In addition, Impala Platinum (Materials) was a significant contributor to absolute returns.

What is the outlook?

Economic data continues to come in better-than-expected, as low rates and aggressive quantitative easing have helped to drive a sharp rebound in global economic activity. Expectations for corporate earnings growth have surged since the March 2009 lows, which in turn have propelled equities higher. We enter 2010 on the lookout for indicators that would suggest an upcoming change in the policy of the Federal Reserve. A change in monetary policy could have a sharp impact on expectations for earning growth, particularly for cyclical and commodity-related industries.

In this environment we are looking for companies that can deliver strong or improving returns regardless of the macroeconomic environment. While the rebound in the market has reduced the remaining upside, we are still finding opportunities where the market under-appreciates a company’s ability to generate sustainable or improving return on capital.

At the sector level, we ended the period most overweight (i.e. the Fund’s sector position was greater than the benchmark position) in Materials, Consumer Discretionary and Industrials and most underweight in Utilities, Energy and Information Technology versus the benchmark. At a regional level, the Fund ended the period overweight the U.K. and Europe ex-U.K. We are seeing more opportunities in Japan as a weakening Yen is likely to help exporters, and therefore have reduced our underweight exposure.

At a meeting held on August 5, 2009, the Board of Directors (“Board”) of Hartford Series Fund, Inc. (“Company”) approved the Forms of Agreement and Plans of Reorganization (“Reorganization Agreements”) that provide for the reorganization of each of two series of the Company, Hartford International Growth HLS Fund and Hartford International Small Company Fund (each, an “Acquired Fund”, and collectively the “Acquired Funds”), into another series of the Company, Hartford International Opportunities HLS Fund (“Reorganizations”). The Reorganizations do not require shareholder approval. The Reorganizations are expected to occur on or about April 16, 2010, or on such a date as the officers of the Company determine.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer
Discretionary)		2.6	%
Banks (Financials)		16.4
Capital Goods (Industrials)		8.0
Consumer Durables & Apparel (Consumer
Discretionary)		3.5
Consumer Services (Consumer Discretionary)		1.6
Diversified Financials (Financials)		5.5
Energy (Energy)		8.7
Food, Beverage & Tobacco (Consumer Staples)		7.7
Health Care Equipment & Services (Health Care)		0.9
Insurance (Financials)		1.4
Materials (Materials)		15.3
Media (Consumer Discretionary)		2.6
Other Investment Pools and Funds (Financials)		0.7
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		6.2
Real Estate (Financials)		3.0
Retailing (Consumer Discretionary)		1.2
Software & Service (Information Technology)		1.3
Technology Hardware & Equipment (Information
Technology)		3.2
Telecommunication Services (Services)		4.9
Transportation (Industrials)		4.2
Utilities (Utilities)		1.0
Short-Term Investments		0.1
Other Assets and Liabilities		–
Total		100.0	%

Diversification by Country

as of December 31, 2009

	Percentage of
Country	Net Assets
Brazil		2.7	%
Canada		3.3
China		5.4
Denmark		1.0
France		5.6
Germany		6.9
Greece		1.1
Hong Kong		5.5
India		1.4
Ireland		2.1
Israel		2.4
Japan		11.4
Malaysia		0.2
Mexico		1.4
Netherlands		2.4
Russia		0.4
South Africa		2.5
Spain		1.8
Sweden		1.4
Switzerland		11.7
Taiwan		1.6
Turkey		1.2
United Kingdom		25.4
United States		1.1
Short-Term Investments		0.1
Other Assets and Liabilities		–
Total		100.0	%

- 35 -

Hartford International Small Company HLS Fund inception 4/30/2001

(subadvised by Wellington Management Company, LLP)

Investment goal – Seeks capital appreciation.

Performance Overview (1) 4/30/01 - 12/31/09

Growth of $10,000 investment

S&P EPAC SmallCap Index, formerly S&P/Citigroup Europe Pacific Asia Composite (EPAC) Extended Market Index (EMI), is a developed-market equity index representing the bottom 15% of the cumulative available capital, by country, of the S&P EPAC Broad Market Index (BMI). The S&P EPAC BMI captures all companies in developed market countries, as defined by Standard & Poor's, within Europe and the Asia Pacific region. To meet the eligibility criteria, companies must have float-adjusted market capitalizations of at least US$100 million and trailing 12 month trading volume of at least US$50 million. Companies are removed if their float-adjusted market capitalization falls below US$75 million or if their trailing 12 month trading volume falls below US$35 million during the annual index reconstitution.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	Since
	Year	Year	Inception
International Small Company IA	38.07%	5.85%	9.12%
International Small Company IB	37.73%	5.59%	8.86%
S&P EPAC SmallCap Index	41.55%	4.99%	9.33%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Simon H. Thomas	Daniel Maguire, CFA
Vice President	Vice President

How did the Fund perform?

The Class IA shares of The Hartford International Small Company HLS Fund returned 38.07% for the twelve-month period ended December 31, 2009, underperforming the Fund’s benchmark, the S&P EPAC SmallCap Index, which returned 41.55% for the same period. The Fund outperformed the 31.95% return of the average fund in the Lipper International Core VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

After a tumultuous first quarter, global equities finished 2009 up sharply from the beginning of the year. Extraordinary government measures helped to stabilize global economies and markets throughout the year, while low interest rates, better than expected corporate earnings, and improving economic data provided a favorable backdrop for equities. All ten sectors in the S&P EPAC SmallCap Index rose during the period, led by Energy, Telecommunications Services, and Information Technology.

The Fund underperformed its benchmark largely due to sector allocation, a result of bottom-up (i.e. stock by stock fundamental research) stock selection. In particular, the Fund’s overweight (i.e. the Fund’s sector position was greater than the benchmark position) to Health Care, which underperformed other sectors of the market during the period, and a modest cash position in a significantly up market hurt relative (i.e. performance of the Fund as measured against the benchmark) returns. Stock selection was strong in aggregate, particularly within the Consumer Staples, Energy and Consumer Discretionary sectors. However, weaker stock selection within the

- 36 -

Health Care, Industrials and Information Technology sectors partially offset these results.

Among the top detractors from relative and absolute (i.e. total return) returns were Shionogi (Health Cre), Aeon Delight (Industrials), and Jupiter Telecommunication (Consumer Discretionary). Shares of Japanese-based pharmaceutical company Shionogi declined amid investors’ concerns that a strong yen would negatively impact the company’s earnings. Aeon Delight, a provider of real estate maintenance services in Japan, saw its shares fall after disappointing earnings announcements. Shares of Jupiter Telecommunication, the largest cable television network operator in Japan and provider of cable television, high speed internet access and telephone services, declined due to weak subscriber growth and increased competition in the Kansai region. Spazio Investment, a Dutch-based real estate company focused on Italy’s industrial real estate market, was also among the top detractors from absolute returns.

Among the top contributors to relative and absolute returns were Dufry Group (Consumer Discretionary), Karoon Gas Australia (Energy), and Whitehaven Coal (Energy). Shares of Dufry, an operator of retail shops in airports, recovered as investors gained confidence in management's ability to operate through the downturn and achieve margin goals despite a slowdown in consumer spending. Shares of Karoon Gas Australia, a pure-play energy exploration company with investments in Australia, Peru and Brazil, surged after the company announced positive drilling results at a key offshore field north of Western Australia. Shares of Whitehaven Coal, the leading Australian coal producer, rose on strengthening end market demand for steel and electricity production, particularly in China and India. In addition, Swiss banking software company TEMENOS was a strong contributor to absolute returns.

What is the outlook?

We believe the macro environment will be marked by uncertainty in 2010 as monetary authorities weigh the withdrawal of massive stimulus efforts against signs of economic recovery. With this as a backdrop, we continue to focus on stock selection, favoring high quality companies with clean balance sheets, solid revenue predictability and nimble cost structures.

On a regional basis, our greatest underweight (i.e. the Fund’s sector position was less than the benchmark position) position at the end of the period was in Europe. Our regional positioning is a residual of our bottom-up stock selection process and reflects, on the margin, a more attractive opportunity set in Asia and select emerging markets, including Brazil and China.

At the sector level, we ended the period most overweight in Industrials and Energy, and most underweight in Financials and Materials, versus the benchmark.

At a meeting held on August 5, 2009, the Board of Directors (“Board”) of Hartford Series Fund, Inc. (“Company”) approved the Forms of Agreement and Plans of Reorganization (“Reorganization Agreements”) that provide for the reorganization of each of two series of the Company, Hartford International Growth HLS Fund and Hartford International Small Company Fund (each, an “Acquired Fund”, and collectively the “Acquired Funds”), into another series of the Company, Hartford International Opportunities HLS Fund (“Reorganizations”). The Reorganizations do not require shareholder approval. The Reorganizations are expected to occur on or about April 16, 2010, or on such a date as the officers of the Company determine.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer
Discretionary)		1.3	%
Banks (Financials)		2.7
Capital Goods (Industrials)		18.1
Commercial & Professional Services (Industrials)		4.7
Consumer Durables & Apparel (Consumer
Discretionary)		3.9
Consumer Services (Consumer Discretionary)		4.4
Diversified Financials (Financials)		4.5
Energy (Energy)		7.4
Food & Staples Retailing (Consumer Staples)		0.9
Food, Beverage & Tobacco (Consumer Staples)		3.7
Health Care Equipment & Services (Health Care)		2.5
Household & Personal Products (Consumer Staples)		0.7
Insurance (Financials)		1.1
Materials (Materials)		8.3
Media (Consumer Discretionary)		1.3
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		4.2
Real Estate (Financials)		4.4
Retailing (Consumer Discretionary)		6.6
Semiconductors & Semiconductor Equipment
(Information Technology)		3.7
Software & Service (Information Technology)		4.2
Technology Hardware & Equipment (Information
Technology)		2.6
Transportation (Industrials)		6.1
Utilities (Utilities)		1.9
Short-Term Investments		0.8
Other Assets and Liabilities		–
Total		100.0	%

Diversification by Country

as of December 31, 2009

	Percentage of
Country	Net Assets
Australia		10.3	%
Belgium		3.5
Brazil		2.7
China		0.2
Finland		0.8
France		10.3
Germany		5.1
Guernsey Channel Isle		0.6
Hong Kong		5.2
India		0.4
Indonesia		0.6
Israel		0.7
Italy		4.0
Japan		20.4
Jersey		1.1
Luxembourg		0.6
Netherlands		1.2
Norway		1.2
Singapore		2.9
South Korea		2.3
Sweden		1.8
Switzerland		4.0
United Kingdom		18.7
United States		0.6
Short-Term Investments		0.8
Other Assets and Liabilities		–
Total		100.0	%

- 37 -

Hartford MidCap HLS Fund*inception 7/14/1997

(subadvised by Wellington Management Company)

Investment goal – Seeks long-term growth of capital.

Performance Overview (1) 12/31/99 - - 12/31/09

Growth of $10,000 investment

S&P MidCap 400 Index is an unmanaged index of common stocks of companies chosen by S&P designed to represent price movements in the midcap U.S. equity market.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	10
	Year	Year	Year
MidCap IA	30.96%	4.97%	7.79%
MidCap IB	30.62%	4.70%	7.54%
S&P MidCap 400 Index	37.38%	3.27%	6.36%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

*The Fund has restrictions on the purchase of shares. A description of the restrictions can be found in the prospectus.

Portfolio Manager

Phillip H. Perelmuter

Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of the Hartford MidCap HLS Fund returned 30.96% for the twelve-month period ended December 31, 2009, underperforming the Fund’s benchmark, the S&P MidCap 400 Index, which returned 37.38% for the same period. The Fund also underperformed the 37.77% return of the average fund in the Lipper Mid-Cap Core VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

After posting steep losses in the first part of 2009 amid increasing signs of a deeper and more protracted recession, U.S. equities staged a sharp rebound beginning in March 2009 as favorable news flow from a few large financial institutions signaled to investors that the troubled Financials sector might be starting to stabilize. Adding fuel to the recovery was encouraging economic data and the U.S. Treasury Department’s updated plan to clean up bank balance sheets. The broad U.S. equity market posted positive returns for the period, aided by the strong rally from the mid-March lows.

Mid cap stocks (37.4%) outperformed small cap (27.2%) and large cap stocks (26.5%) during the period, as measured by the S&P MidCap 400, Russell 2000, and S&P 500 indices, respectively. Growth stocks (41.7%) significantly out-paced value stocks (27.7%) during the period, as measured by the Russell 2500 Growth and Russell 2500 Value indices. Within the S&P MidCap 400 Index, all ten sectors posted positive returns. Energy (67%), Information Technology (58%), and Consumer Discretionary (56%) were the best performers, while Financials (12%) and Telecommunication Services (14%) lagged on a relative (i.e. performance of the Fund as measured against the benchmark) basis.

Underperformance versus the benchmark was driven by security selection. Weak stock selection in Consumer Discretionary, Energy, and Materials more than offset strong stock selection within Information Technology and Financials. Sector allocations, driven by our bottom-up (i.e. stock by stock fundamental research) stock selection process, contributed positively to relative returns during the period, primarily due to an underweight (i.e. the Fund’s sector position was less than the benchmark position) position in the weaker-performing Financials sector and overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions in Information Technology and Health Care.

- 38 -

Top detractors from relative performance included Huntington Bancshares (Financials), Apollo Group (Consumer Discretionary), and WR Berkley (Financials). Ohio-based diversified banking and financials services company Huntington Bancshares reported a larger-than-expected earnings loss due to an increase in provision for credit loss expense. Shares of for-profit educational services provider Apollo Group fell after the firm announced that the SEC had launched an informal investigation into its revenue recognition practices. WR Berkley shares underperformed as the insurance sector came under pressure on concerns about the pricing cycle. Health and supplemental benefit plans provider Humana (Health Care) and waste management company Republic Services (Industrials) were among the top detractors from absolute (i.e. total return) performance.

Top contributors to benchmark-relative returns included NetApp (Information Technology), Life Technologies (Health Care), and Red Hat (Information Technology). Shares of data storage equipment maker NetApp rose as the company’s earnings exceeded expectations and management raised guidance citing manufacturing cost improvements and signs of improving business sentiment. Life Technologies, created through the merger of Invitrogen and Applied Biosystems, is a provider of tools and cultures used in genetic research and drug development. The company’s shares benefited during the period from strong synergies after the merger and the impact of government agency stimulus funds. Open-source enterprise software and services company Red Hat benefited from growing revenue and higher margins as IT organizations moved ahead with purchases of the firm’s high value software solutions.

What is the outlook?

Global economies continued the healing process during the latter part of the period. The rate of increase in unemployment has slowed, industrial production leading indicators are pointing to an expansion, and the housing market has shown some signs of stabilization. The government continues to reshape the financial playing field through stimulus packages, massive loans to impaired private sector companies, and other programs, all taken with an eye towards thawing credit markets and placing a floor on house price declines and a ceiling on housing inventory. These moves should continue to help mitigate some of the negative economic pressures.

Our efforts are focused on picking stocks based on a bottom-up review of their fundamentals. As a result of these individual stock decisions, we ended the period with our most significant overweight positions relative to the benchmark in the Consumer Discretionary, Health Care, and Information Technology sectors. Our largest underweights relative to the benchmark were in the Financials, Utilities, and Materials sectors.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer
Discretionary)		0.4	%
Banks (Financials)		4.2
Capital Goods (Industrials)		10.0
Commercial & Professional Services (Industrials)		1.8
Consumer Durables & Apparel (Consumer
Discretionary)		2.9
Consumer Services (Consumer Discretionary)		4.0
Diversified Financials (Financials)		1.2
Energy (Energy)		8.7
Food, Beverage & Tobacco (Consumer Staples)		1.3
Health Care Equipment & Services (Health Care)		8.9
Household & Personal Products (Consumer Staples)		0.5
Insurance (Financials)		4.0
Materials (Materials)		3.6
Media (Consumer Discretionary)		3.9
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		6.3
Real Estate (Financials)		2.4
Retailing (Consumer Discretionary)		6.6
Semiconductors & Semiconductor Equipment
(Information Technology)		4.0
Software & Service (Information Technology)		8.2
Technology Hardware & Equipment (Information
Technology)		4.8
Telecommunication Services (Services)		1.2
Transportation (Industrials)		3.4
Utilities (Utilities)		3.7
Short-Term Investments		2.7
Other Assets and Liabilities		1.3
Total		100.0	%

- 39 -

Hartford MidCap Growth HLS Fund inception 5/1/1998

(subadvised by Hartford Investment Management Company)

Investment goal – Seeks long-term growth of capital.

Performance Overview (1) 12/31/99 - - 12/31/09

Growth of $10,000 investment

Russell MidCap Growth Index is an unmanaged index measuring the performance of the mid-cap growth segment of the U.S. equity universe.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns(2) (as of 12/31/09)

	1	5	10
	Year	Year	Year
MidCap Growth IA	47.87%	0.59%	3.27%
MidCap Growth IB	47.51%	0.35%	3.01%
Russell MidCap Growth Index	46.29%	2.40%	-0.52%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.
(2)	Class IB shares commenced on March 31, 2008. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Hugh Whelan, CFA	Paul Bukowski, CFA
Managing Director	Vice President

How did the Fund perform?

The Class IA shares of the Hartford MidCap Growth HLS Fund returned 47.87% for the twelve-month period ended December 31, 2009, outperforming its benchmark, the Russell Midcap Growth Index, which returned 46.29%, and the Lipper Mid-Cap Growth VP-UF Funds category, a group of funds with investment strategies similar to those of the Fund, which returned 43.51%.

Why did the Fund perform this way?

The Fund outperformed the benchmark during the period. Favorable security selection in the Information Technology, Materials, and Industrials sectors offset weak security selection in the Consumer Discretionary sector.

Among the largest contributors to benchmark relative performance were overweight (i.e. the Fund’s sector position was greater than the benchmark position) allocations in Ashland (Materials), a specialty chemicals company, and Western Digital Corporation (Technology), a hard drive manufacturer. Ashland had a strong year, surpassing most of its peers in the chemical industry. Although the industry has struggled during the year, the company is benefiting from its water technologies. Western Digital Corporation’s shares rose due to strong demand and lean inventories for hard drives.

The primary detractors from relative returns were positions in homebuilder Pulte Homes (Consumer Discretionary) and FMC Technologies (Energy), a technology solution provider to the energy industry. The Fund's overweight to Pulte Homes detracted from performance, as the company posted disappointing results related to its acquisition of Centex. The Fund’s underweight (i.e. the Fund’s sector position was less than the benchmark position) to FMC Technologies was also a drag on performance; the company had a strong year, up 142.7% as it benefited from the overall strength in the oil well services and equipment industry and provided earnings guidance significantly above analyst estimates.

The Fund’s current top holdings are Ashland (Materials), and Integrys Energy Group (Utilities), a holding company serving both regulated and non-regulated energy markets. When evaluating a stock’s attractiveness, we consider four categories of characteristics: business behavior, management behavior, valuation, and investor behavior. Ashland is a top holding because of positive investor sentiment coupled with very strong valuations. Integrys Energy Group is a top holding primarily due

- 40 -

to a combination of favorable valuation and a strong consensus regarding the company's outlook from the analyst community.

The Fund invests in companies that we believe have compelling stock characteristics versus the Russell Midcap Growth Index. The Fund’s systematic approach weighs over 40 fundamental characteristics across four broad categories, including business behavior, management behavior, valuation and investor behavior. This analysis is used to build a broadly diversified portfolio of companies, with sector weightings determined largely by the attractiveness of specific stocks within the Fund’s investment universe. Overall, the Fund tends to invest in financially efficient companies with attractive valuations and strong balance sheets. We believe this approach will yield attractive risk-adjusted returns relative to the Russell Midcap Growth Index over the long term.

What is the outlook?

In 2009, equities rallied in one of the strongest and fastest bear market recoveries on record. Like previous recession rallies, the market rose by means of a rapid expansion with valuations multiplying as earnings growth decelerated. However, this "junk" rally, which was led by stocks with little or no earnings, low profitability, high beta, and low S&P ratings, seems to be abating.

We believe the slowing of the rally, and its primary drivers, is indicative of an inflection point in investor sentiment. Early recovery "easy wins" for companies, such as reducing inventory, are coming to an end. Investors are recognizing that a sustainable recovery will need to be led by an improvement in employment and end-demand and that, in the face of multipliers like price to earnings (P/E) stabilizing or falling company fundamentals will matter.

Our investment process systematically favors companies with strong fundamentals and should benefit from this type of shift in sentiment. However, if the cost of capital and credit spreads were to continue to decline, then strong fundamentals would matter less and could represent a risk to our strategy.

Effective March 1, 2010, Kurt Cubbage will be added as a portfolio manager of the Fund. In connection with this addition, the name of “Hartford MidCap Growth HLS Fund” will be changed to “Hartford Small/Mid Cap Equity HLS Fund” and the Principal Investment Strategy will be revised.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer
Discretionary)		0.6	%
Banks (Financials)		0.2
Basic Materials (Materials)		0.4
Capital Goods (Industrials)		12.0
Commercial & Professional Services (Industrials)		2.7
Consumer Durables & Apparel (Consumer
Discretionary)		2.1
Consumer Services (Consumer Discretionary)		2.4
Diversified Financials (Financials)		4.1
Energy (Energy)		3.5
Food, Beverage & Tobacco (Consumer Staples)		4.3
Health Care Equipment & Services (Health Care)		9.7
Household & Personal Products (Consumer Staples)		2.0
Insurance (Financials)		1.0
Materials (Materials)		5.8
Media (Consumer Discretionary)		2.7
Other Investment Pools and Funds (Financials)		0.2
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		4.8
Real Estate (Financials)		0.3
Retailing (Consumer Discretionary)		7.6
Semiconductors & Semiconductor Equipment
(Information Technology)		3.9
Software & Service (Information Technology)		14.4
Technology Hardware & Equipment (Information
Technology)		5.7
Telecommunication Services (Services)		0.6
Transportation (Industrials)		0.9
Utilities (Utilities)		3.4
Short-Term Investments		3.9
Other Assets and Liabilities		0.8
Total		100.0	%

- 41 -

Hartford MidCap Value HLS Fund*inception 4/30/2001

(subadvised by Wellington Management Company)

Investment goal – Seeks long-term capital appreciation.

Performance Overview (1) 4/30/01 - 12/31/09

Growth of $10,000 investment

Russell 2500 Value Index is an unmanaged index measuring the performance of those Russell 2500 Index companies with lower price-to-book ratios and lower forecasted growth values.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	Since
	Year	Year	Inception
MidCap Value IA	44.19%	2.68%	5.93%
MidCap Value IB	43.83%	2.43%	5.67%
Russell 2500 Value Index	27.68%	0.84%	6.69%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

*  The Fund has restrictions on the purchase of shares. A description of the restrictions can be found in the prospectus.

Portfolio Manager

James N. Mordy

Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of the Hartford MidCap Value HLS Fund returned 44.19% for the twelve month period ended December 31, 2009, outperforming the Fund’s benchmark, the Russell 2500 Value Index, which returned 27.68% for the same period. The Fund also outperformed the 34.98% return of the average fund in the Lipper Mid-Cap Value VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

After experiencing significant declines in the first months of the year, the equity markets rallied following the release of positive economic data which confirmed that a recovery was underway.

During the period, the growth indices outpaced value indices, as measured by the Russell 1000 Growth Index (37.2%) and Russell 1000 Value Index (19.7%), respectively. Midcap stocks, as measured by the Russell Midcap Index (40.5%), outperformed large cap stocks, as measured by Russell 1000 Index (28.4%) and small cap stocks, as measured by Russell 2000 Index (27.2%). Within the Russell 2500 Value Index, all ten sectors posted positive returns with Information Technology, Consumer Discretionary, and Telecommunications and Media leading the way while Financials lagged, on a relative (i.e. performance of the Fund as measured against the benchmark) basis.

The Fund’s outperformance was driven primarily by strong favorable selection, which was additive in seven of ten broad economic sectors. Stock selection was strongest within Financials, Consumer Staples, and Telecommunications and Media. Overall sector allocation, a result of bottom-up (i.e. stock by stock fundamental research) security selection, also contributed positively to relative performance, particularly our underweight (i.e. the Fund’s sector position was less than the benchmark position) position in Financials and overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions in Health Care and Information Technology.

The largest contributors to absolute (i.e. total return) and benchmark-relative performance included Virgin Media (Telecom & Media), TRW Automotive (Consumer Discretionary), and Marine Harvest (Consumer Staples). Virgin Media is a UK cable television operator whose share price rose due to improved fundamentals. The company now enjoys a favorable pricing environment and technology advantage versus its competitors. Shares of auto parts supplier TRW Automotive rose as earnings exceeded consensus expectations as cost cutting overcame output declines and company management raised its

- 42 -

full-year revenue guidance. Salmon farming company Marine Harvest’s shares moved significantly higher as the global supply-demand balance tightened and fish prices increased. In addition, Wall Street’s concerns that the company would need to raise equity to repay debt abated as interest coverage metrics improved. In addition, Varian Semiconductor (Information Technology) was a significant contributor to absolute returns.

The largest detractors from relative returns included Delta Air Lines (Industrials), Kimco Realty (Financials), and Solar Cayman (Financials). Shares of Delta Air Lines fell as demand for air travel declined even faster than aggressive industry capacity cuts, while a decline in high-fare business travel also affected revenue-per-seat metrics. Kimco Realty, a U.S. REIT specializing in the development, management and acquisition of shopping centers, experienced stock price pressure on concerns over the company’s joint venture leverage and debt maturities over the next 12-18 months. Our stake in Solar Cayman, a private investment fund that we anticipate will IPO in 2010, was revalued lower during the year. In addition, CACI International (Information Technology) was a significant detractor from absolute returns.

What is the outlook?

Recent indicators point to even stronger near-term momentum in the economy than we anticipated. While we still think job growth will surprise positively during 2010, we have also seen strength in the ISM (Institute for Supply Management), more impact from fiscal stimulus, a lift in vehicle sales, and a decent finish to holiday retail sales. A shift in the inventory cycle from liquidation to modest accumulation will also have an outsized impact on GDP. The real question is sustainability, and we anticipate feeling more headwinds as we move past the next few quarters. We believe real consumer spending growth will be subdued, commercial real estate issues linger, growth in China might ease, and the Fed will have to begin to implement an exit strategy and a possible rate hike later this year.

We had a slight cyclical bias to portfolio transactions during the fourth quarter of 2009, emphasizing Industrials, Materials and Energy names over the other sectors. We may look to become more defensive in anticipation of slower economic momentum.

At the end of the period, our largest overweights were in Health Care, Materials, and Information Technology while our largest underweights were in Financials (specifically Banks and Real Estate) and Utilities, relative to the benchmark.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer
Discretionary)		0.8	%
Banks (Financials)		2.4
Capital Goods (Industrials)		11.1
Consumer Durables & Apparel (Consumer
Discretionary)		5.0
Consumer Services (Consumer Discretionary)		1.0
Diversified Financials (Financials)		7.2
Energy (Energy)		6.7
Food, Beverage & Tobacco (Consumer Staples)		2.5
Health Care Equipment & Services (Health Care)		4.4
Insurance (Financials)		9.5
Materials (Materials)		11.0
Media (Consumer Discretionary)		2.4
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		4.4
Real Estate (Financials)		4.2
Retailing (Consumer Discretionary)		4.8
Semiconductors & Semiconductor Equipment
(Information Technology)		4.4
Software & Service (Information Technology)		1.0
Technology Hardware & Equipment (Information
Technology)		6.8
Transportation (Industrials)		3.7
Utilities (Utilities)		6.0
Short-Term Investments		0.6
Other Assets and Liabilities		0.1
Total		100.0	%

- 43 -

Hartford Small Company HLS Fund inception 8/9/1996

(subadvised by:	Wellington Management Company, LLP
	Hartford Investment Management Company)

Investment goal – Seeks growth of capital.

Performance Overview (1) 12/31/99 - - 12/31/09

Growth of $10,000 investment

Russell 2000 Growth Index is an unmanaged index of those Russell 2000 Index growth companies with higher price-to-book ratios and higher forecasted growth values.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns (as of 12/31/09)

	1	5	10
	Year	Year	Year
Small Company IA	29.29%	3.96%	0.91%
Small Company IB	29.01%	3.72%	0.69%
Russell 2000 Growth Index	34.47%	0.87%	-1.38%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Wellington Management Company, LLP			Hartford Investment Management Company
Steven C. Angeli, CFA	Stephen Mortimer	Mario E. Abularach, CFA, CMT	Hugh Whelan, CFA	Kurt Cubbage, CFA
Senior Vice President, Partner	Senior Vice President	Vice President	Managing Director	Vice President

How did the Fund perform?

The Class IA shares of the Hartford Small Company HLS Fund returned 29.29% for the twelve-month period ended December 31, 2009, underperforming the Fund’s benchmark, the Russell 2000 Growth Index which returned 34.47% for the same period. The Fund underperformed the 35.86% return of the average fund in the Lipper Small Cap Growth VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The twelve-month period ended December 31, 2009 was one of the most volatile in history, reflecting investors’ fluctuating reactions to economic data releases and the U.S. government’s involvement to help mitigate the financial crisis. The broad U.S. equity market continued to decline until early March lows, when it began to sharply rebound through the end of 2009. In this environment, small cap, mid cap and large cap stocks all registered a positive return over the twelve-month period, as measured by the Russell 2000 (+27.2%), S&P MidCap 400 (+37.4%) and S&P 500 (+26.5%) indices, respectively. All ten sectors within the Russell 2000 Growth Index advanced during the period. Information Technology (+60.1%), Consumer Discretionary (+58.1%), and Materials (+47.7%) were the strongest-performing sectors while Financials (+9.6%), Industrials (+11.9%), and Utilities (+15.0%) gained the least.

From mid-March, a low-profitability, low-quality stock rally led the market out of the bottom. This rally impacted the Fund’s performance since a large portion of the Fund only invests in high-quality, profitable stocks. As a result, the Fund security selection detracted from performance for the remainder of the period. However, the effects of security selection were slightly mitigated by positive stock selection in Energy and Consumer Staples.

Stocks that detracted the most from relative (i.e. performance of the Fund as measured against the benchmark) returns during the period were Corinthian Colleges (Consumer Discretionary), Human Genome Science (Health Care), and Celera (Health Care). Shares of Corinthian Colleges, a post-secondary education services company with operations in the United States and Canada, fell together with other education stocks due to regulatory worries. Elevated bad debt expense, coupled with concerns that the company would likely have to continue providing financing to students (especially those with lower credit scores),

- 44 -

dampened investor enthusiasm. Shares of Human Genome Science, a biotechnology company, soared on encouraging Phase 3 results for Benlysta, a potential treatment for lupus. Not owning the stock detracted from  elative performance. Molecular-diagnostics company Celera announced disappointing second-quarter results due to slowing product sales and higher bad debts expense. We eliminated the position during the year. Significant detractors from absolute returns (i.e. total return) included Covanta Holding (Industrials), Fuel Systems Solutions (Consumer Discretionary) and Smithfield Foods (Consumer Staples).

Top contributors to relative performance during the period included SeaGate Technology (Information Technology), Jarden (Consumer Discretionary), and Jabil Circuit (Information Technology). We established a position in hard drive maker SeaGate Technology early in the period anticipating better industry fundamentals (capacity reduction, low inventories) and company-specific execution (new management, restructuring steps, product mix changes). Our investment thesis continued to play out in 2009, and SeaGate’s stock price moved higher in the period as the company reported earnings that topped consensus forecasts. Jarden, parent of consumer niche product brands like Sunbeam and Coleman, saw its shares rise as it posted better than expected profits, helped by cost cuts and market share gains in some segments. Shares of Jabil Circuit, one of the largest electronic manufacturing services providers, performed well as results topped expectations and management raised guidance citing improving end-market demand, manufacturing efficiencies, and cost reductions. ON Semiconductor (Information Technology) was a notable contributor to absolute performance.

What is the outlook?

The first part of the period resulted in tremendous uncertainty that undermined confidence and resulted in plummeting stock prices. Signs of lessening deterioration in the early part of the year had a powerful positive influence on sentiment and stock prices. Reported corporate profits began to exceed expectations, in large part due to cost cutting. Lean inventories could hold up the promise for some uptick in industrial activity while easy year-on-year comparisons could pave the way for better “growth” headlines. Meanwhile, stocks have moved decisively higher: the Russell 2000 Growth Index is up over 75% from early March lows to the end of 2009. The question now is how sustainable the improvement in fundamentals and sentiment will prove.

Despite the uncertainty, the Fund continues to focus on stocks of companies that have unique business models or special market opportunities that should allow them to deliver superior growth. The Fund remains well diversified, with holdings across all major market sectors. At the end of the period, the Fund had overweights (i.e. the Fund’s sector position was greater than the benchmark position) in Consumer Discretionary, Materials, and Telecommunications Services relative to the Russell 2000 Growth Index. The Fund ended the period most underweight (i.e. the Fund’s sector position was less than the benchmark position) in Information Technology, Financials, and Health Care.

As of December 31, 2009, 55% of the Fund’s assets were managed by Wellington Management Company and 45% of the assets were managed by Hartford Investment Management Company.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer
Discretionary)		0.8	%
Banks (Financials)		0.6
Capital Goods (Industrials)		7.6
Commercial & Professional Services (Industrials)		3.2
Consumer Durables & Apparel (Consumer
Discretionary)		7.8
Consumer Services (Consumer Discretionary)		3.9
Diversified Financials (Financials)		1.3
Energy (Energy)		4.4
Food & Staples Retailing (Consumer Staples)		0.3
Food, Beverage & Tobacco (Consumer Staples)		1.9
Health Care Equipment & Services (Health Care)		11.7
Household & Personal Products (Consumer Staples)		2.0
Insurance (Financials)		1.1
Materials (Materials)		3.8
Media (Consumer Discretionary)		1.7
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		9.7
Real Estate (Financials)		0.7
Retailing (Consumer Discretionary)		4.8
Semiconductors & Semiconductor Equipment
(Information Technology)		5.5
Software & Service (Information Technology)		11.5
Technology Hardware & Equipment (Information
Technology)		7.2
Telecommunication Services (Services)		2.0
Transportation (Industrials)		3.3
Utilities (Utilities)		0.3
Short-Term Investments		1.6
Other Assets and Liabilities		1.3
Total		100.0	%

- 45 -

Hartford SmallCap Growth HLS Fund inception 5/2/1994

(subadvised by:	Wellington Management Company, LLP
	Hartford Investment Management Company)

Investment goal – Seeks long-term capital appreciation.

Performance Overview (1) 12/31/99 - - 12/31/09

Growth of $10,000 investment

Russell 2000 Growth Index is an unmanaged index of those Russell 2000 Index growth companies with higher price-to-book ratios and higher forecasted growth values.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns(2) (as of 12/31/09)

	1	5	10
	Year	Year	Year
SmallCap Growth IA	35.39%	-0.27%	-1.91%
SmallCap Growth IB	35.06%	-0.51%	-2.15%
Russell 2000 Growth Index	34.47%	0.87%	-1.38%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.
(2)	Class IB shares commenced on May 1, 2002. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Wellington Management Company, LLP		Hartford Investment Management Company
David J. Elliot, CFA	Mammen Chally, CFA	Hugh Whelan, CFA	Kurt Cubbage, CFA
Vice President	Vice President	Managing Director	Vice President

How did the Fund perform?

The Class IA shares of the Hartford Small Cap Growth HLS Fund returned 35.39% for the twelve-month period ended December 31, 2009, outperforming the Fund’s benchmark, the Russell 2000 Growth, which returned 34.47%. For the same period, the Fund performed inline with the return of the average fund in the Lipper Small Cap Growth VP-UF Funds peer group 35.86%, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

After posting steep losses in the first part of 2009 amid increasing signs of a deeper and more protracted recession, U.S. equities staged a sharp rebound beginning in March as favorable news flow from a few large financial institutions signaled to investors that the troubled Financials sector might be starting to stabilize. Adding fuel to the recovery was encouraging economic data and the U.S. Treasury Department’s updated plan to clean up bank balance sheets. The broad U.S. equity market posted positive returns for the period, aided by the strong rally from the mid-March lows.

Mid cap stocks (37.4%) outperformed small cap (27.2%) and large cap stocks (26.5%) during the period, as measured by the S&P MidCap 400, Russell 2000 and S&P 500 indices, respectively. Growth stocks (37.2%) significantly out-paced value stocks (19.7%) during the period, as measured by the Russell 1000 Growth and Russell 1000 Value indices. All ten sectors in the Russell 2000 Growth Index had positive returns during the period. The Information Technology (60.1%), Consumer Discretionary (58.1%), and Materials (47.7%) sectors performed best, while Financials (9.6%) and Industrials (11.9%) lagged on a relative basis.

Fund performance was primarily driven by stock selection. Outperformance relative to the benchmark reflected strong selection in the Information Technology and Telecommunications Services sectors, which more than offset weaker selection in Consumer Discretionary and Materials. Sector allocation also contributed modestly to relative results.

Among the top contributors to relative performance were CV Therapeutics (Health Care), Rosetta Resources (Energy), and Salix Pharmaceutical (Health Care). Shares of U.S.-based pharmaceutical company CV Therapeutics rose as physician interest in one of its primary drugs increased following a recent label expansion. In addition, competitive takeover bids from Astellas Pharma and Gilead Sciences helped drive strong price appreciation. We eliminated the position during the period. Shares of independent oil & gas company Rosetta Resources benefited from recovering natural gas prices as well as

- 46 -

investors’ increasing comfort with the company's transition to an emerging resource play. Specialty pharmaceutical company Salix Pharmaceutical’s shares rose as the company announced the successful outcome of two Phase III trials to evaluate the efficacy and safety of Rifaximin.Top contributors to absolute results also included personal care products and nutritional supplements company Nu Skin Enterprises (Consumer Staples).

Human Genome Science (Health Care), Medicines Company (Health Care), and Healthspring (Health Care) detracted most from relative returns during the period. Shares of biopharmaceutical company Human Genome Sciences soared after the company announced encouraging news about Benlysta, a potential treatment for lupus. We exited our position early in the period; not holding the position as the price appreciated hurt benchmark-relative returns. Specialty pharmaceutical company Medicines Co's shares fell as the company discontinued Phase III clinical trials for the development of its experimental blood clotting treatment. Healthspring, a managed health care organization focused on Medicare, saw its share price fall early in the period as fourth quarter 2008 earnings were lower than expected, reflecting higher Medicare Advantage loss ratios and lower investment yields. Another significant detractor from absolute returns (i.e. total return) during the period was Esterline Technologies (Industrials), a specialized manufacturing company principally serving aerospace and defense customers.

What is the outlook?

As the deterioration in macroeconomic data began to moderate during the first half of the year, investors removed the worst-case depression scenario from their outlook, propelling stocks higher. Government intervention helped to stabilize the financial sector, resulting in tightening credit spreads and greater flexibility for companies to raise both debt and equity financing. While recent economic releases point to an improvement from the dire outlook of early 2009, the U.S. economy is by no means out of the woods. Consumer and corporate debt levels remain high, unemployment now exceeds 10%, and the government’s unprecedented monetary and fiscal stimulus has raised the specter of inflation down the road.

The Fund focuses on stock selection as the key driver of returns and uses proprietary fundamental and quantitative research in a disciplined framework to build a portfolio of the most attractive stocks. The Fund ended the period most overweight (i.e. the Fund’s sector position was greater than the benchmark position) in Financials, Telecommunications Services, and Energy sectors and most underweight (i.e. the Fund’s sector position was less than the benchmark position) in the Consumer Discretionary, Information Technology, and Materials sectors.

At December 31, 2009, 92% of the Fund’s assets were managed by Wellington Management Company and 8% of the assets were managed by Hartford Investment Management Company.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer
Discretionary)		0.5	%
Banks (Financials)		2.1
Capital Goods (Industrials)		8.5
Commercial & Professional Services (Industrials)		4.2
Consumer Durables & Apparel (Consumer
Discretionary)		3.5
Consumer Services (Consumer Discretionary)		3.0
Diversified Financials (Financials)		1.7
Energy (Energy)		4.9
Food & Staples Retailing (Consumer Staples)		0.5
Food, Beverage & Tobacco (Consumer Staples)		1.2
Health Care Equipment & Services (Health Care)		10.9
Household & Personal Products (Consumer Staples)		1.9
Insurance (Financials)		2.1
Materials (Materials)		1.9
Media (Consumer Discretionary)		1.4
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		12.6
Real Estate (Financials)		0.7
Retailing (Consumer Discretionary)		5.7
Semiconductors & Semiconductor Equipment
(Information Technology)		4.8
Software & Service (Information Technology)		15.5
Technology Hardware & Equipment (Information
Technology)		5.6
Telecommunication Services (Services)		2.5
Transportation (Industrials)		2.3
Utilities (Utilities)		0.9
Short-Term Investments		1.0
Other Assets and Liabilities		0.1
Total		100.0	%

- 47 -

Hartford SmallCap Value HLS Fund inception 5/1/1998

(subadvised by: Kayne Anderson Rudnick Investment Management, LLC Metropolitan West Capital Management, LLC SSgA Funds Management, Inc.)

Investment goal – Seeks capital appreciation.

Performance Overview (1) 12/31/99 - - 12/31/09

Growth of $10,000 investment

Russell 2000 Value Index is an unmanaged index measuring the performance of those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Average Annual Returns(2) (as of 12/31/09)

	1	5	10
	Year	Year	Year
SmallCap Value IA	28.72%	2.14%	8.62%
SmallCap Value IB	28.28%	1.85%	8.37%
Russell 2000 Value Index	20.58%	-0.01%	8.27%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)	Growth of a $10,000 investment in Class IB shares will vary from the resultsseen on this page due to differences in the expense charged to this share class.
(2)	Class IB shares commenced on March 31, 2003. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Kayne Anderson Rudnick Investment Management, LLC	Metropolitan West Capital Management, LLC	SSgA Funds Management, Inc.
Robert A. Schwarzkopf	Samir Sikka	William H. DeRoche, CFA
Chief Investment Officer	Senior Vice President	Principal
Craig Stone		Chuck Martin
Senior Research Analyst		Principal
Julie Kutasov
Senior Research Analyst

How did the fund perform?

The Class IA shares of the Hartford SmallCap Value HLS Fund returned 28.72%for the twelve-month period ended December 31, 2009, outperforming the 20.58% return of the Russell 2000 Value Index and underperforming the 30.59% return of the average fund in the Lipper Small-Cap Value VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The twelve-month period ended December 31, 2009 was one of the most volatile in history, reflecting investors’ fluctuating reactions to economic data releases and the U.S. government’s involvement to help mitigate the financial crisis. The broad U.S. equity market continued to decline until the early March lows, when it began to sharply rebound all the way through 2009. Within the Russell 2000 Value Index, there was a wide spread of returns in the various sectors. Nine out of ten sectors posted positive returns for the period, led by Materials (66.2%), Consumer Discretionary (66.1%) and Information Technology (60.3%). Financials (-2.4%) was the only sector with negative returns in 2009.

Stock selection was the primary driver of our performance during the period. VeriFone Holding (Information Technology) and Tempur-Pedic International (Consumer Discretionary) were top relative (i.e. performance of the Fund as measured against the benchmark) performers. A producer of point-of-sale scanners, shares of VeriFone Holdings had fallen excessively toward the end of 2008 in sympathy with the retail slowdown. VeriFone remains the global leader in its business, is generating strong cash flow and stands to benefit over the coming years from growth of non-cash payment methods (credit and debit cards) and the proliferation of new products, from point-of-sale terminals in cabs to handheld scanners in restaurants. From its low in December 2008 to the end of December 2009, shares of VeriFone have gained over 230%. Tempur-Pedic, which was one of our worst performers in 2008, boosted its gross margin and beat analysts’ expectations during the year due to lower costs and declining selling

- 48 -

and marketing expenses, this in response to reduced consumer discretionary spending. Shares of Tempur-Pedic also increased over 230% in 2009.

Detractors from performance included Cathay General Bancorp (Financials) and Zions Bancorp (Financials). Regional banks Cathay General and Zions both decreased due to concerns over commercial real estate losses and their balance sheets caused by challenging financial credit conditions.

What is the outlook?

The worst of the economic pain is likely behind us as the massive policy response from the Treasury and the Federal Reserve has led to an improved credit environment, although not yet a completely healthy one. We believe the full impact of the Federal government stimulus program will take hold gradually and, while economic growth will turn positive, we expect it to be slower than normal over the next few years. Equity markets could do well in this environment. Slow, steady growth accompanied by relatively low and non-volatile interest rates could be positive for corporate earnings. We also believe that equity returns should beat most fixed income alternatives as investors begin to reinvest their low-yielding cash positions in the stock market.

Currently, the Fund’s overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions relative to the benchmark were in Industrials and Health Care. Conversely, the Fund’s largest underweight (i.e. the Fund’s sector position was less than the benchmark position) position relative to the benchmark continues to be in Financials. We believe that the complementary style of the three sub-advisers provides the Fund with a well positioned portfolio in this environment to add value relative to the market and its peers.

At December 31, 2009, 34% of the Fund’s assets were managed by Kayne Anderson Rudnick Investment Management, 34% were managed by Metropolitan West Capital Management and 32% were managed by SSgA Funds Management.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer
Discretionary)		0.8	%
Banks (Financials)		6.8
Capital Goods (Industrials)		10.2
Commercial & Professional Services (Industrials)		9.0
Consumer Durables & Apparel (Consumer
Discretionary)		3.5
Consumer Services (Consumer Discretionary)		3.1
Consumer Staples (Industrials)		0.0
Diversified Financials (Financials)		6.3
Energy (Energy)		7.3
Food & Staples Retailing (Consumer Staples)		0.2
Food, Beverage & Tobacco (Consumer Staples)		1.9
Health Care Equipment & Services (Health Care)		7.3
Household & Personal Products (Consumer Staples)		3.2
Insurance (Financials)		4.3
Materials (Materials)		3.8
Media (Consumer Discretionary)		0.3
Pharmaceuticals, Biotechnology & Life Sciences
(Health Care)		1.9
Real Estate (Financials)		4.9
Retailing (Consumer Discretionary)		3.1
Semiconductors & Semiconductor Equipment
(Information Technology)		2.3
Software & Service (Information Technology)		6.4
Technology Hardware & Equipment (Information
Technology)		5.1
Telecommunication Services (Services)		0.8
Transportation (Industrials)		3.7
Utilities (Utilities)		2.8
Short-Term Investments		3.4
Other Assets and Liabilities		(2.4	)
Total		100.0	%

- 49 -

Hartford Stock HLS Fund inception 8/31/1977

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/99 - 12/31/09

Growth of $10,000 investment

S&P 500 Index is a market capitalization weighted price index composed of 500  widely held common stocks.  

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Investment goal – Seeks long-term growth of capital.

Average Annual Returns (as of 12/31/09)

	1			5			10
	Year			Year			Year
Stock IA		41.54	%		1.39	%		-1.36	%
Stock IB		41.18	%		1.14	%		-1.59	%
S&P 500 Index		26.45	%		0.41	%		-0.95	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the results  seen on this page due to differences in the expense charged to this share  class.

Performance information may reflect historical or current expense waivers from the  investment adviser, without which performance would have been lower. For  information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Steven T. Irons, CFA	Peter I. Higgins, CFA
Senior Vice President, Partner	Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of the Hartford Stock HLS Fund returned 41.54% for the twelve-month period ended December 31, 2009, outperforming the Fund’s benchmark, the S&P 500 Index which returned 26.45% for the same period. The Fund also outperformed the 27.98% return of the average fund in the Lipper Large Cap Core VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Broad U.S. equity markets rose during the period, but the overall results mask two significantly different market environments. From the beginning of January through early March, stocks fell sharply reflecting deepening economic worries and concerns over the U.S. government’s increasing involvement in the economy. From early March through December, stocks rallied as investors came to believe that a Depression-like scenario was less likely.

Mid cap stocks (+37%) outperformed large (+26%) and small (+27%) cap stocks during the period, as measured by the S&P MidCap 400, S&P 500, and Russell 2000 indices, respectively. Growth (+37%) stocks significantly outperformed Value (+20%) stocks, as measured by the Russell 1000 Growth and Russell 1000 Value indices. Within the S&P 500, the Information Technology (+62%), Materials (+48%), and Consumer Discretionary (+41%) sectors posted the largest gains. Telecommunication Services (+9%), Utilities (+12%), and Energy (+14%) gained the least.

The Fund’s outperformance versus its benchmark was driven by security selection, which was strongest in Financials, Energy, and Health Care. This was partially offset by weaker selection in Telecommunication Services and Utilities. Sector positioning, which is a result of bottom-up (i.e. stock by stock fundamental research) security selection, also contributed positively to relative (i.e. performance of the Fund as measured against the benchmark) performance due to overweight (i.e. the Fund’s sector position was greater than the benchmark position) exposures to Information Technology and underweight (i.e. the Fund’s sector position was less than the benchmark position) exposures to Utilities and Telecommunication Services.

Top contributors to relative performance during the period were Goldman Sachs (Financials), Schering-Plough (Health Care) and Petrol Brasileiros (Energy). Shares of Goldman Sachs, a leading investment bank, benefited from the firm’s relatively healthy balance sheet and news that the company would pay back its government TARP loans sooner than expected. Schering-Plough’s share price jumped after receiving a takeout offer by Merck. Brazil-based oil and gas exploration and production company Petrol Brasileiros reported solid results aided by reduced exploration and production lifting costs and strong refining and downstream earnings, driving shares higher. The Fund’s holdings in Apple (Information Technology) and Microsoft (Information Technology) also contributed positively to the Fund’s returns on an absolute (i.e. total return) basis.

50

Stocks that detracted the most from relative returns during the period were Shionogi (Health Care), Wells Fargo (Financials), and IBM (Information Technology). Japan-based pharmaceutical company Shionogi's third quarter domestic product sales were weaker than expected and its royalty income from international Crestor sales suffered due to the appreciating Yen. The combination of these two events forced Shionogi to lower its full year earnings outlook, driving its stock price downward. Shares of U.S. bank Wells Fargo fell early in the period amid concerns over its acquisition of Wachovia, the potential impact of worsening credit trends, and the possibility that it might have to raise additional equity. IBM reported better than expected earnings, driving the company’s share price higher. Not owning the benchmark-component stock IBM negatively impacted relative performance. General Electric (Industrials) and Exxon Mobil (Energy) also detracted from absolute returns.

What is the outlook?

It is increasingly clear that the U.S. is emerging from a deep recession. The rate of increase in unemployment has slowed, industrial production leading indicators are pointing to an expansion, and the housing market has shown some signs of stabilization. The government continues to reshape the financial playing field through stimulus packages, massive loans to impaired private sector companies, and other programs, all done with an eye towards thawing credit markets and placing a floor on the house price declines and a ceiling on housing inventory. These moves should continue to help mitigate some of the negative economic pressures, and while the outlook remains uncertain, the strong equity market performance since March lows shows investors are anticipating a recovery.

In the midst of this uncertainty we continue to focus our efforts on stock-by-stock fundamental research to construct a diversified large-cap core portfolio. We look for companies that exhibit the following qualities: industry leadership, strong balance sheets, solid management, high return on equity, accelerating earnings, and/or attractive valuation with a catalyst. At the end of the period, our bottom-up investment approach resulted in overweight exposures in Health Care, Information Technology, and Industrials, as we found a number of attractive investment opportunities in these sectors. The Fund’s largest underweights relative to the S&P 500 were in Telecommunication Services, Utilities, and Materials.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer Discretionary)		1.5	%
Banks (Financials)		4.0
Capital Goods (Industrials)		8.7
Diversified Financials (Financials)		10.5
Energy (Energy)		11.3
Food & Staples Retailing (Consumer Staples)		2.4
Food, Beverage & Tobacco (Consumer Staples)		6.1
Health Care Equipment & Services (Health Care)		5.2
Insurance (Financials)		1.9
Materials (Materials)		0.7
Media (Consumer Discretionary)		2.4
Pharmaceuticals, Biotechnology & Life Sciences (Health Care)		10.8
Retailing (Consumer Discretionary)		5.8
Semiconductors & Semiconductor Equipment (Information Technology)		2.7
Software & Services (Information Technology)		9.1
Technology Hardware & Equipment (Information Technology)		11.0
Transportation (Industrials)		3.7
Utilities (Utilities)		0.8
Short-Term Investments		1.7
Other Assets and Liabilities		(0.3	)
Total		100.0	%

51

Hartford Total Return Bond HLS Fund inception 8/31/1977

(subadvised by Hartford Investment Management Company)

Performance Overview(1) 12/31/99 - 12/31/09

Growth of $10,000 investment

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Investment goal – Seeks a competitive total return, with income as a secondary objective.

Average Annual Returns (as of 12/31/09)

	1			5			10
	Year			Year			Year
Total Return Bond IA		15.01	%		3.61	%		6.08	%
Total Return Bond IB		14.72	%		3.35	%		5.84	%
Barclays Capital U.S. Aggregate Bond Index		5.93	%		4.97	%		6.33	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Nasri Toutoungi	Joseph Portera	Christopher J. Zeppieri, CFA
Managing Director	Executive Vice President	Vice President

How did the Fund perform?

The Class IA Shares of the Hartford Total Return Bond HLS Fund returned 15.01% for the twelve-month period ended December 31, 2009, outperforming its benchmark, the Barclays Capital U.S. Aggregate Bond Index, which returned 5.93%, and the Lipper Intermediate Investment Grade Debt VP-UF Funds category, a group of funds with investment strategies similar to those of the Fund, which returned 12.21%.

Why did the Fund perform this way?

The environment at the conclusion of 2008 was one of unprecedented uncertainty. Investment Grade and High Yield Corporate Bond premiums were at or near all time highs while U.S. Treasury rates across all maturities were at or near all time lows. The financial system had nearly failed and there remained tremendous ambiguity regarding the fate of the U.S. banks. However, at the onset of 2009, rays of light emerged from the darkness.

The first indication of market stabilization came from the high yield sector. Money began to flow into the sector from market participants of all types; these investors recognized the extremely depressed asset valuations and the relative value compared to equities. Investment grade Industrials followed high yield with the reopening of primary markets. Successful new issuance begot firmer markets and spurred investor appetite. The opening of markets allowed for corporate chief financial officers to term out their debt and bolster their balance sheets. The resulting increase in corporate creditworthiness further enticed investor interest, which created a cycle of spread tightening (i.e. short and long term interest rates moving closer together) through all of 2009. Meanwhile, more certainty emerged regarding the banking sector, nationalization was averted and systemic deleveraging appeared to be mostly complete.

The result of these events materialized in the form of record breaking excess returns from both investment grade and high yield corporate debt. The Fund maintained an overweight versus the benchmark to investment grade corporates throughout the year. The Fund also increased its high yield corporate bond and bank loan allocations as spreads rallied. The relative overweight and out of benchmark allocations contributed significantly to performance in 2009.

52

Structured products, Asset Backed Securities (ABS) and Commercial Mortgage Backed Securities (CMBS), also sharply recovered in 2009. Both benefited significantly from the Term Asset Backed Securities Loan Facility and the Public-Private Investment Program, government programs enacted to finance the releveraging of structured products. The deluge of supply that was dumped onto the market in the fall of 2008 was quickly absorbed by investors in the spring of 2009, which drove spreads tighter (i.e. short and long term interest rates moving closer together). Despite a less than optimistic view of commercial real estate, valuations compelled us to overweight CMBS in the Fund. The Fund had overweight allocations to ABS and CMBS which benefited performance over the period.

The Fund also benefited from out of benchmark positions in non agency prime and Alt-A residential passthroughs, and an Emerging Market allocation. Despite ongoing difficulties in home values and mortgage defaults, valuations of non-conforming residential mortgages recovered significantly from 2008. The Fund retained its positions through the extremes of 2008 and only began to reduce them with the recovery in the second quarter of 2009. Although the total allocation was minimal, the position contributed to outperformance. Similarly, Emerging Markets recovered nicely in 2009, and although it was also a relatively small portion of the Fund, it also contributed positively to performance.

What is the outlook?

Many Investment Grade issuers are now at valuations congruent with pre-crisis conditions. Still, there is value remaining in Corporate Bonds. In most of our expected scenarios, spreads continue to tighten and generate positive returns in Investment Grade and High Yield. Economic growth and corporate earnings are vulnerable if we have weak quarters going forward, but we feel balance sheets are adequately prepared, and we expect the high yield default rate to continue to decline. It is likely in the near term we expect to remain overweight in Corporates in both Investment Grade and High Yield in the Fund.

In the longer term, we expect that the yield curve will flatten. That said, applying that view to portfolio positioning concedes portfolio yield and therefore timing is critical. Given the continued low levels of capacity utilization and high unemployment, inflation is not likely to be a near-term threat. This should keep the federal funds rate and the short end of the curve at low levels through the coming quarters. Longer maturity Treasuries will be pressured by the enormous amount of issuance required for funding the federal deficit. We believe a flatter curve is most likely several quarters away. However, we will look to position the Fund for a flatter curve sooner should the economic recovery broaden and deepen.

Diversification by Security Type

as of December 31, 2009

	Percentage of
Category	Net Assets
Asset & Commercial Mortgage Backed Securities		9.7	%
Call Options Purchased		0.1
Common Stocks		0.0
Corporate Bonds: Investment Grade		31.0
Corporate Bonds: Non-Investment Grade		7.3
Municipal Bonds		0.8
Preferred Stocks		0.0
Put Options Purchased		0.0
Senior Floating Rate Interests: Non-Investment Grade		2.9
U.S. Government Agencies		26.6
U.S. Government Securities		18.3
Warrants		0.0
Short-Term Investments		9.0
Other Assets and Liabilities		(5.7	)
Total		100.0	%

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry	Net Assets
Fixed Income Securities
Accommodation and Food Services		0.4	%
Administrative Waste Management and Remediation		0.2
Air Transportation		0.1
Arts, Entertainment and Recreation		1.9
Beverage and Tobacco Product Manufacturing		1.1
Chemical Manufacturing		1.3
Computer and Electronic Product Manufacturing		0.3
Construction		0.4
Electrical Equipment, Appliance Manufacturing		0.1
Finance and Insurance		21.9
Food Manufacturing		0.2
Food Services		0.0
Foreign Governments		2.4
General Obligations		0.3
Health Care and Social Assistance		2.3
Higher Education (Univ., Dorms, etc.)		0.1
Information		5.2
Machinery Manufacturing		0.2
Mining		1.5
Miscellaneous Manufacturing		0.7
Motor Vehicle & Parts Manufacturing		0.1
Nonmetallic Mineral Product Manufacturing		0.1
Paper Manufacturing		0.3
Petroleum and Coal Products Manufacturing		2.8
Pipeline Transportation		0.7
Plastics and Rubber Products Manufacturing		0.0
Primary Metal Manufacturing		0.6
Printing and Related Support Activities		0.0
Professional, Scientific and Technical Services		0.4
Rail Transportation		0.1
Real Estate and Rental and Leasing		0.9
Retail Trade		0.4
Soap, Cleaning Compound and Toilet Manufacturing		0.1
Tax Allocation		0.0
Transit and Ground Passenger Transportation		0.0
Transportation		0.4
U.S. Government Agencies		26.6
U.S. Government Securities		18.3
Utilities		4.1
Wholesale Trade		0.1
Other Securities
Automobiles & Components		0.0
Banks		0.0
Long Call Future Option Contract		0.1
Long Put Future Option Contract		0.0
Telecommunication Services		0.0
Short-Term Investments		9.0
Other Assets and Liabilities		(5.7	)
Total		100.0	%

Distribution by Credit Quality

as of December 31, 2009

	Percentage of
	Long Term
Rating	Holdings
AAA		56.2	%
AA		6.4
A		12.7
BBB		13.3
BB		4.9
B		5.0
CCC		1.3
Not Rated		0.2
Total		100.0	%

53

Hartford U.S. Government Securities HLS Fund inception 3/24/1987

(subadvised by Hartford Investment Management Company)

Performance Overview(1) 12/31/99 - 12/31/09

Growth of $10,000 investment

Barclays Capital Intermediate Government Bond Index is an unmanaged index of government bonds with maturities of between one and ten years.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Investment goal – Seeks to maximize total return while providing shareholders with a high level of current income consistent with prudent investment risk.

Average Annual Returns(2) (as of 12/31/09)

	1			5			10
	Year			Year			Year
U.S. Government Securities IA		3.38	%		2.52	%		4.62	%
U.S. Government Securities IB		3.12	%		2.26	%		4.36	%
Barclays Capital Intermediate Government Bond Index		-0.32	%		4.74	%		5.65	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2) Class IB shares commenced on May 1, 2002. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Russell M. Regenauer, CFA	John Hendricks
Senior Vice President	Senior Vice President

How did the Fund perform?

The Class IA Shares of the Hartford U.S. Government Securities HLS Fund returned 3.38% for the twelve-month period ended December 31, 2009, outperforming its benchmark, the Barclays Capital Intermediate Government Bond Index, which returned -0.32%, but underperforming the Lipper General U.S. Government VP-UF Funds category, a group of funds with investment strategies similar to those of the Fund, which returned 5.99%.

Why did the Fund perform this way?

For 2009, the federal government increased its programs designed to support the capital markets. This support included the Federal Reserve increasing its commitment to purchase Agency debentures and pass-throughs from $500B to $1,250B. It also announced a Quantitative Easing program (QE) to purchase Treasury Securities. In addition, the Treasury announced the creation of the Public-Private Investment Program (PPIP) and an expansion of the Term Asset-Backed Securities Loan Facility (TALF) to include Residential and Commercial Mortgage backed securities (CMBS). The spreads in these aforementioned sectors widened considerably in the beginning of the first quarter, but with the announcement of the previously mentioned programs, spreads tightened and outperformed Treasury securities for the year.

The Fund’s outperformance versus the benchmark for the period was primarily due to out of benchmark allocations. Government Sponsored Enterprise (GSE) debentures as well as Small Business Administration (SBA) securities, GSE mortgage-backed securities, and Private Label Mortgage Backed Securities (MBS) all contributed to the Fund’s outperformance. Relatively small allocations to Asset Backed Securities (ABS) and CMBS also contributed to performance.

Detractors from the Fund’s performance over the period included duration positioning (a measure of interest-rate sensitivity) and yield curve positioning. For the period, rates finished higher, with longer maturity rates rising more than shorter maturity rates.

What is the outlook?

While data continue to indicate a more stable economic environment, it remains to be seen whether the recovery can continue once stimulus support expires amid continued weak economic fundamentals.

54

We expect the Fed to exit its MBS purchase program during the 1st quarter of 2010, and we believe interest rate volatility could rise as this occurs. This would likely result in MBS securities underperforming Treasury securities. We also expect further declines in housing prices later in 2010, but the pace and rate of the decline will be affected by the scope and success of mortgage modifications. Uncertainty over current and future housing legislation will keep prepayment and loss severity uncertainty in Residential Mortgage Backed Securities high. We will also continue to monitor the rates markets closely, as increased Government involvement could result in a record supply of Treasury securities. We expect below normal (for a post recessionary period) economic growth to continue to support a low rate environment, but the growing supply of Treasury debt will put upward pressure on interest rates as time goes on.

Diversification by Security Type

as of December 31, 2009

	Percentage of
Category	Net Assets
Asset & Commercial Mortgage Backed Securities		7.8	%
Call Options Purchased		0.0
Corporate Bonds: Investment Grade		4.0
Put Options Purchased		0.0
U.S. Government Agencies		65.9
U.S. Government Securities		20.3
Short-Term Investments		1.3
Other Assets and Liabilities		0.7
Total		100.0	%

Distribution by Credit Quality

as of December 31, 2009

	Percentage of
	Long Term
Rating	Holdings
AAA		95.7	%
AA		0.5
A		0.5
BBB		1.0
BB		0.7
B		0.1
CCC		1.1
Not Rated		0.4
Total		100.0	%

55

Hartford Value HLS Fund inception 4/30/2001

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/01 - 12/31/09

Growth of $10,000 investment

Russell 1000 Value Index is an unmanaged index measuring the performance of those Russell 1000 Index companies with lower price-to-book ratios and lower forecasted growth values.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Investment goal – Seeks long-term total return.

Average Annual Returns (as of 12/31/09)

	1			5			Since
	Year			Year			Inception
Value IA		24.37	%		3.33	%		3.05	%
Value IB		24.06	%		3.07	%		2.80	%
Russell 1000 Value Index		19.69	%		-0.25	%		2.20	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
Karen H. Grimes, CFA	Ian Link, CFA	W. Michael Reckmeyer, III, CFA
Senior Vice President	Vice President	Senior Vice President

How did the Fund perform?

The Class IA shares of the Hartford Value HLS Fund returned 24.37% for the twelve-month period ended December 31, 2009, outperforming the Fund’s benchmark, the Russell 1000 Value Index, which returned 19.69% for the same period. The Fund also outperformed the 23.20% return of the average fund in the Lipper Large Cap Value VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Broad U.S. equity markets rose during the period, but this overall increase masks two significantly different market environments. From January through early March, stocks fell sharply reflecting deepening economic worries and concerns over the U.S. government’s increasing involvement in the economy. Beginning in early March stocks rallied through December as investors came to believe that a Depression-like scenario was less likely. Sector returns within the Russell 1000 Value Index diverged widely in this environment, with strength in Materials (+63%), Information Technology (+58%), and Consumer Discretionary (+50%) overshadowing relative (i.e. performance of the Fund as measured against the benchmark) weakness in Energy (+9%) and Telecommunication Services (+9%).

The Fund’s outperformance versus its benchmark was due to favorable stock selection as well as sector positioning, which is a result of bottom-up (i.e. stock by stock fundamental research) stock selection decisions. Stock selection was particularly strong in Industrials, Energy, and Consumer Staples, more than offsetting weaker selection in Information Technology, Financials, and Consumer Discretionary. The Fund’s overweights to Information Technology and Materials and underweight (i.e. the Fund’s sector position was less than the benchmark position) in Financials also helped benchmark-relative results.

Among the top contributors to benchmark-relative returns were Goldman Sachs (Financials), Citigroup (Financials), and Schering-Plough (Health Care). Shares of U.S. bank holding company and investment bank Goldman Sachs Group benefited from the firm's relative strength versus peers, its ability to pay back government loans, and an earnings lift from its underwriting business in the wake of high levels of new stock offerings. We purchased Citigroup early in the period and eliminated it after determining the fundamentals were continuing to deteriorate. Its stock price fell as a result. Since Citigroup is a large benchmark component, our lack of exposure through most of the period benefited our relative results. Shares of pharmaceutical company Schering-Plough jumped after the company announced a definitive merger agreement with Merck. Top absolute contributors for the period also included JPMorgan Chase (Financials) and Newfield Exploration (Energy).

56

ACE (Financials), International Paper (Materials), and Freeport-McMoRan (Materials) detracted most from benchmark-relative returns. Worldwide property/casualty insurance and reinsurance provider ACE underperformed over the course of the year on concerns over its reserve levels. Not owning International Paper as the stock rallied from March through October hurt relative results. Shares of mining company Freeport McMoRan jumped amid surging profits and improving commodity prices. We did not own the benchmark-component stock, which negatively impacted relative performance. Stocks that detracted most from absolute (i.e. total return) returns included Exxon Mobile (Energy), banking firm U.S. Bancorp (Financials) and industrial and financial conglomerate General Electric (Industrials).

What is the outlook?

As the deterioration in macroeconomic data began to moderate during the first half of the year, investors removed the worst-case depression scenario from their outlook, propelling stocks higher. Government intervention helped to stabilize the financial sector, resulting in tightening credit spreads and greater flexibility for companies to raise both debt and equity financing. While recent economic releases point to an improvement from the dire outlook of early 2009, the U.S. economy is by no means out of the woods. Consumer and corporate debt levels remain high, unemployment now exceeds 10%, and the government’s unprecedented monetary and fiscal stimulus has raised the specter of inflation down the road.

The market’s sharp rally off its March lows narrowed or eliminated many previously-attractive disparities between market price and our assessment of fair value. The strength of the rally suggests that investors are pricing in not just the removal of the worst-case scenario, but a robust economic recovery. In this environment we continue to apply our time-tested philosophy focused on building a portfolio in which expected growth and the dividend yield are better than the market, and valuations are lower than the market. Based on bottom-up stock decisions, we ended the period most overweight (i.e. the Fund’s sector position was greater than the benchmark position) the Information Technology, Health Care, and Materials sectors; our largest underweights were in Utilities, Telecommunications Services, and Financials.

At a meeting held on August 5, 2009, the Board of Directors (“Board”) of Hartford Series Fund, Inc. (“Company”) approved a Form of Agreement and Plan of Reorganization (“Reorganization Agreement”) that provides for the reorganization of a series of the Company, Hartford Equity Income HLS Fund, into another series of the Company, Hartford Value HLS Fund (“Reorganization”). The Reorganization does not require shareholder approval. The Reorganization is expected to occur on or about March 19, 2010, or on such a date as the officers of the Company determine.

At the same meeting held on August 5, 2009, the Board of Directors of Hartford HLS Series Fund II, Inc. approved on behalf of Hartford Value Opportunities HLS Fund (the “Acquired Fund”), and the Board of Directors of Hartford Series Fund, Inc. approved on behalf of Hartford Value Fund HLS (the “Acquiring Fund”), the reorganization of the Acquired Fund with and into the Acquiring Fund (the “Reorganization”). The Board of Directors of Hartford HLS Series Fund II, Inc. has called for a Special Meeting of the Shareholders of the Acquired Fund to be held on or about January 26, 2010, for the purpose of seeking the approval of the Agreement and Plan of Reorgaization (the “Reorganization Agreement”) by the Shareholders of the Acquired Fund. If approved, the Reorganization is expected to occur on or about the close of business on March 19, 2010.

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Automobiles & Components (Consumer Discretionary)		0.5	%
Banks (Financials)		5.4
Capital Goods (Industrials)		10.1
Commercial & Professional Services (Industrials)		1.0
Consumer Durables & Apparel (Consumer Discretionary)		1.8
Diversified Financials (Financials)		10.3
Energy (Energy)		17.5
Food & Staples Retailing (Consumer Staples)		1.8
Food, Beverage & Tobacco (Consumer Staples)		4.4
Health Care Equipment & Services (Health Care)		4.8
Household & Personal Products (Consumer Staples)		0.9
Insurance (Financials)		6.2
Materials (Materials)		5.8
Media (Consumer Discretionary)		1.6
Pharmaceuticals, Biotechnology & Life Sciences (Health Care)		7.0
Retailing (Consumer Discretionary)		4.4
Semiconductors & Semiconductor Equipment (Information Technology)		4.0
Software & Services (Information Technology)		1.8
Technology Hardware & Equipment (Information Technology)		3.1
Telecommunication Services (Services)		3.0
Transportation (Industrials)		0.7
Utilities (Utilities)		3.2
Short-Term Investments		0.4
Other Assets and Liabilities		0.3
Total		100.0	%

57

Hartford Value Opportunities HLS Fund inception 5/1/1996

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/99 - 12/31/09

Growth of $10,000 investment

Russell 1000 Value Index is an unmanaged index measuring the performance of those Russell 1000 Index companies with lower price-to-book ratios and lower forecasted growth values.

Russell 3000 Value Index is an unmanaged index measuring the performance of those Russell 3000 Index companies with lower price-to-book ratios and lower forecasted growth values.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Investment goal – Seeks capital appreciation.

Average Annual Returns(2) (as of 12/31/09)

	1			5			10
	Year			Year			Year
Value Opportunities IA		46.75	%		0.88	%		4.33	%
Value Opportunities IB		46.37	%		0.63	%		4.07	%
Russell 1000 Value Index		19.69	%		-0.25	%		2.47	%
Russell 3000 Value Index		19.76	%		-0.24	%		2.88	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2) Class IB shares commenced on May 1, 2002. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

Performance information may reflect historical or current expense waivers from the investment adviser, without which performance would have been lower. For information on current expense waivers/reimbursements, please see the prospectus.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

Portfolio Managers
David R. Fassnacht, CFA	James N. Mordy	David W. Palmer, CFA
Senior Vice President, Partner	Senior Vice President, Partner	Vice President

How did the Fund perform?

The Class IA shares of the Hartford Value Opportunities HLS Fund returned 46.75% for the twelve-month period ended December 31, 2009, versus the returns of 19.69% for the Russell 1000 Value Index and 19.76% for the Russell 3000 Value Index. The Fund outperformed the 26.77% return of the average fund in the Lipper Multi Cap Value VP-UF Fund peer group, a group of funds with investment strategies similar to those of the Fund.  

Why did the Fund perform this way?

After a tumultuous first quarter, global equities finished 2009 up sharply from the beginning of the year. Extraordinary government measures helped to stabilize global economies and markets throughout the year, while low interest rates, better than expected corporate earnings, and improving economic data provided a favorable backdrop for equities.

In this environment, the growth indices outpaced value indices, as measured by the Russell 3000 Growth Index (37.0%) and Russell 3000 Value Index (19.8%), respectively. Midcap stocks, as measured by Russell Midcap (40.5%), outperformed large cap stocks, as measured by Russell 1000 Index (28.4%) and small cap stocks, as measured by Russell 2000 Index(27.2%). All ten sectors within the Russell 3000 Value Index posted positive returns with Materials, Information Technology, and Consumer Discretionary leading the way, while Telecommunication Services and Energy rose the least.

Positive stock selection in seven of the ten broad economic sectors was the primary driver of the Fund’s outperformance versus its benchmark. Security selection was most additive in Energy, Financials, and Consumer Staples, while results trailed the benchmark in Industrials and Utilities. Sector allocation also contributed positively to the Fund’s relative (i.e. performance of the Fund as measured against the benchmark) performance, due largely to overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions in Information Technology and Financials.

58

The largest contributors to relative and absolute (i.e. total return) performance were TRW Automotive (Consumer Discretionary), Newfield Exploration (Energy) and Marine Harvest (Consumer Staples). Shares of auto parts supplier TRW Automotive advanced due to signs of stabilizing auto sales in the U.S. and Europe. The company amended its bank credit facility to ease covenant restrictions, addressing concerns that the company would violate interest coverage metrics. Oil and gas producer Newfield Exploration rallied as investors became more convinced that the oversupply situation in the natural gas industry would start to self-correct near-term. In addition, the company’s new CEO has done a better job of focusing attention on the value of the company’s reserve base. Salmon farming company Marine Harvest’s shares moved significantly higher as the global supply-demand balance tightened and fish prices increased. In addition, Wall Street’s concerns that the company would need to raise equity to repay debt abated as interest coverage metrics improved with rising product prices.

The largest detractors from relative performance included U.S. Airways (Industrials), ACE (Financials), and Comcast (Consumer Discretionary). Shares of U.S. Airways fell as demand for air travel declined even faster than aggressive industry capacity cuts, and a decline in high-fare business travel also affected revenue-per-seat metrics. Worldwide property/casualty insurance and reinsurance provider ACE saw its shares decline as investors became concerned about weakness in the property and casualty pricing cycle. Shares of Comcast, the largest U.S. cable company, underperformed following rumors of its intent to acquire NBC Universal, though the share price recovered somewhat late in the fourth quarter, after the actual deal terms were announced. In addition, continued weakness in new home construction, weak employment and concerns surrounding video bypass of cable continued to weigh on Comcast’s valuation. Continued weakness in new home construction, weak employment and concerns surrounding video bypass of cable continued to weigh on valuation. Top detractors from absolute returns also included Humana (Health Care) and General Electric (Industrials).

What is the outlook?

Markets finished the year on a solid note, marking the third straight quarter of gains for the major indices, but the tone of Wall Street commentary on the direction of fundamentals remains as bifurcated and shrill as ever. While investors argue amongst themselves about the future direction of leading indicators, interest rates and the dollar, coincident indicators are finally showing some improvement in layoffs, inventory trends and disposable income, which we believe should support corporate profits.

Against this backdrop, the Fund ended the period most overweight Information Technology, Financials, and Health Care, and most underweight (i.e. the Fund’s sector position was less than the benchmark position) Telecommunication Services and Utilities relative to the benchmark.

At a meeting held on August 5, 2009, the Board of Directors of Hartford HLS Series Fund II, Inc. approved on behalf of Hartford Value Opportunities HLS Fund (the “Acquired Fund”), and the Board of Directors of Hartford Series Fund, Inc. approved on behalf of Hartford Value Fund HLS (the “Acquiring Fund”), the reorganization of the Acquired Fund with and into the Acquiring Fund (the “Reorganization”). The Board of Directors of Hartford HLS Series Fund II, Inc. has called for a Special Meeting of the Shareholders of the Acquired Fund to be held on or about January 26, 2010, for the purpose of seeking the approval of the Agreement and Plan of Reorgaization (the “Reorganization Agreement”) by the Shareholders of the Acquired Fund. If approved, the Reorganization is expected to occur on or about the close of business on March 19, 2010. 

Diversification by Industry

as of December 31, 2009

	Percentage of
Industry (Sector)	Net Assets
Banks (Financials)		3.3	%
Capital Goods (Industrials)		7.4
Consumer Durables & Apparel (Consumer Discretionary)		0.6
Consumer Services (Consumer Discretionary)		1.4
Diversified Financials (Financials)		10.9
Energy (Energy)		16.9
Food & Staples Retailing (Consumer Staples)		1.9
Food, Beverage & Tobacco (Consumer Staples)		1.7
Health Care Equipment & Services (Health Care)		4.1
Insurance (Financials)		10.7
Materials (Materials)		5.4
Media (Consumer Discretionary)		2.8
Pharmaceuticals, Biotechnology & Life Sciences (Health Care)		6.5
Real Estate (Financials)		1.1
Retailing (Consumer Discretionary)		3.7
Semiconductors & Semiconductor Equipment (Information Technology)		0.7
Software & Services (Information Technology)		2.5
Technology Hardware & Equipment (Information Technology)		9.0
Transportation (Industrials)		4.2
Utilities (Utilities)		3.7
Short-Term Investments		1.6
Other Assets and Liabilities		(0.1	)
Total		100.0	%

59

Hartford Advisers HLS Fund

Schedule of Investments

December 31, 2009

(000’s Omitted)

		Market
Shares or Principal Amount		Value Ì
COMMON STOCKS — 65.6%
	Automobiles & Components — 1.0%
2,350	Ford Motor Co. ●	$	23,499
768	Harley-Davidson, Inc.		19,364
			42,863
	Banks — 2.7%
767	PNC Financial Services Group, Inc.		40,512
400	Standard Chartered plc		10,092
4,194	Washington Mutual, Inc. Private
	Placement Ù●†		527
2,264	Wells Fargo & Co.		61,096
			112,227
	Capital Goods — 5.9%
549	Boeing Co.		29,739
338	Cummins, Inc.		15,505
441	General Dynamics Corp.		30,077
2,002	General Electric Co.		30,292
914	Ingersoll-Rand plc		32,681
1,010	Masco Corp.		13,952
317	Rockwell Collins, Inc.		17,549
151	Siemens AG ADR		13,810
542	Stanley Works.		27,934
1,944	Textron, Inc.		36,568
			248,107
	Diversified Financials — 5.4%
674	Ameriprise Financial, Inc.		26,176
1,329	Discover Financial Services, Inc.		19,543
151	Franklin Resources, Inc.		15,891
230	Goldman Sachs Group, Inc.		38,749
793	Invesco Ltd.		18,632
1,454	JP Morgan Chase & Co.		60,601
2,648	UBS AG ADR ●		41,075
			220,667
	Energy — 7.8%
353	Anadarko Petroleum Corp.		22,015
240	BP plc ADR		13,895
335	Cameco Corp.		10,790
961	ConocoPhillips Holding Co.		49,053
189	Devon Energy Corp.		13,914
226	EOG Resources, Inc.		21,980
638	Exxon Mobil Corp.		43,512
442	Hess Corp.		26,717
507	OAO Gazprom Class S ADR.		12,931
595	Occidental Petroleum Corp.		48,371
428	Petroleo Brasileiro S.A. ADR		20,412
370	Suncor Energy, Inc.		13,053
1,378	Williams Cos., Inc.		29,044
			325,687
	Food & Staples Retailing — 1.7%
471	CVS/Caremark Corp.		15,171
646	Sysco Corp.		18,038
686	Wal-Mart Stores, Inc.		36,656
			69,865
	Food, Beverage & Tobacco — 4.2%
661	Campbell Soup Co.		22,325
651	General Mills, Inc.		46,090

1,255	PepsiCo, Inc.	76,298
1,031	Unilever N.V. NY Shares ADR	33,326
		178,039
	Health Care Equipment & Services — 3.6%
391	Cardinal Health, Inc.	12,609
196	CareFusion Corp. ●	4,891
50	Intuitive Surgical, Inc. ●	15,196
1,040	Medtronic, Inc.	45,717
503	St. Jude Medical, Inc. ●	18,482
998	UnitedHealth Group, Inc.	30,422
555	Varian Medical Systems, Inc. ●	25,997
		153,314
	Insurance — 1.3%
533	ACE Ltd.	26,861
1,292	Marsh & McLennan Cos., Inc.	28,523
		55,384
	Materials — 0.5%
88	Rio Tinto plc ADR	18,868
	Media — 1.6%
4,044	Comcast Corp. Class A	68,178
	Pharmaceuticals, Biotechnology & Life Sciences — 7.3%
355	Amgen, Inc. ●	20,088
257	Celgene Corp. ●	14,299
1,353	Daiichi Sankyo Co., Ltd.	28,370
1,984	Elan Corp. plc ADR ●	12,936
467	Eli Lilly & Co.	16,659
110	Forest Laboratories, Inc. ●	3,545
202	Johnson & Johnson	12,998
1,610	Merck & Co., Inc.	58,833
3,426	Pfizer, Inc.	62,326
87	Roche Holding AG	14,817
1,200	Shionogi & Co., Ltd.	26,007
318	UCB S.A.	13,284
482	Vertex Pharmaceuticals, Inc. ●	20,658
		304,820
	Retailing — 4.0%
106	Amazon.com, Inc. ●	14,313
11,241	Buck Holdings L.P. Ù●†	23,034
381	Kohl’s Corp. ●	20,553
2,110	Lowe’s Co., Inc.	49,358
362	Nordstrom, Inc.	13,607
1,105	Staples, Inc.	27,167
429	Target Corp.	20,756
		168,788
	Semiconductors & Semiconductor Equipment — 1.9%
495	Lam Research Corp. ●	19,417
1,729	Maxim Integrated Products, Inc.	35,100
947	Texas Instruments, Inc.	24,679
		79,196
	Software & Services — 6.1%
574	Accenture plc	23,834
1,011	Automatic Data Processing, Inc.	43,287
93	Google, Inc. ●	57,534
2,652	Microsoft Corp.	80,859

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

60

			Market
Shares or Principal Amount			Value Ì
COMMON STOCKS — (continued)
		Software & Services — (continued)
	1,974	Western Union Co.	$	37,213
	827	Yahoo!, Inc. ●		13,874
				256,601
		Technology Hardware & Equipment — 7.4%
	322	Apple, Inc. ●		67,939
	3,569	Cisco Systems, Inc. ●		85,435
	1,475	Dell, Inc. ●		21,179
	1,305	Hewlett-Packard Co.		67,226
	1,172	Qualcomm, Inc.		54,207
	823	Seagate Technology		14,963
				310,949
		Transportation — 2.6%
	3,844	Delta Air Lines, Inc. ●		43,741
	376	FedEx Corp.		31,413
	601	United Parcel Service, Inc. Class B		34,491
				109,645
		Utilities — 0.6%
	482	Exelon Corp.		23,560
		Total common stocks
		(cost $2,443,452)	$	2,746,758
PREFERRED STOCKS — 1.8%
		Diversified Financials — 1.8%
	4,985	Bank of America Corp. Y	$	74,375
		Total preferred stocks
		(cost $74,773)	$	74,375
WARRANTS — 0.0%
		Banks — 0.0%
	524	Washington Mutual, Inc. Private
		Placement Ù●†	$	—
		Total warrants (cost $—)	$	—
ASSET & COMMERCIAL MORTGAGE BACKED
SECURITIES — 0.9%
		Finance and Insurance — 0.9%
		Citibank Credit Card Issuance Trust
$	11,945	5.65%, 09/20/2019	$	12,938
		Harley-Davidson Motorcycle Trust
	12,375	5.21%, 06/17/2013		12,858
		Marriott Vacation Club Owner Trust
	897	5.36%, 10/20/2028 ■		881
		USAA Automotive Owner Trust
	11,285	4.50%, 10/15/2013		11,801
				38,478
		Total asset & commercial
		mortgage backed securities
		(cost $36,486)	$	38,478
CORPORATE BONDS: INVESTMENT GRADE — 13.4%
		Air Transportation — 0.4%
		Continental Airlines, Inc.
$	4,140	5.98%, 04/19/2022	$	3,995

	Southwest Airlines Co.
8,700	5.75%,12/15/2016	8,598
3,281	6.15%,08/01/2022	3,249
		15,842
	Arts, Entertainment and Recreation — 0.0%
	News America Holdings, Inc.
1,175	5.65%,08/15/2020 ■	1,224
	Beverage and Tobacco Product Manufacturing — 0.1%
	Anheuser-Busch InBev N.V.
3,100	7.75%,01/15/2019 ■	3,629
	Coca-Cola Enterprises, Inc.
500	8.50%,02/01/2022	642
		4,271
	Computer and Electronic Product Manufacturing — 0.1%
	Dell, Inc.
2,735	5.88%,06/15/2019	2,894
	Electrical Equipment, Appliance Manufacturing — 0.2%
	General Electric Co.
6,925	5.00%,02/01/2013	7,326
	Finance and Insurance — 8.7%
	Ace INA Holdings, Inc.
700	5.88%,06/15/2014	759
	American Express Centurion Bank
6,350	6.00%,09/13/2017	6,580
	ANZ National Ltd.
1,360	2.38%,12/21/2012 ■	1,350
	AXA Financial, Inc.
6,400	7.00%,04/01/2028	6,088
	Berkshire Hathaway Finance Corp.
5,500	4.85%,01/15/2015	5,888
	Brandywine Operating Partnership
9,585	6.00%,04/01/2016	8,797
	Capital One Bank
3,750	6.50%,06/13/2013	4,031
	Capital One Capital IV
1,625	6.75%,02/17/2037	1,349
	CDP Financial, Inc.
3,100	4.40%,11/25/2019 ■	2,969
	Cincinnati Financial Corp.
10,000	6.92%,05/15/2028	9,663
	Citibank NA
26,000	1.88%,06/04/2012	26,149
	Citigroup, Inc.
8,800	6.00%,10/31/2033	7,572
520	8.13%,07/15/2039	587
	Discover Financial Services, Inc.
7,220	6.45%,06/12/2017	6,757
	Eaton Vance Corp.
3,180	6.50%,10/02/2017	3,288
	Everest Reinsurance Holdings, Inc.
4,525	5.40%,10/15/2014	4,421
	Goldman Sachs Group, Inc.
20,000	1.63%,07/15/2011	20,179
5,500	5.30%,02/14/2012	5,836
6,000	5.63%,01/15/2017	6,128
	Health Care Properties
6,530	6.00%,01/30/2017	6,145

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

61

Hartford Advisers HLS Fund

Schedule of Investments — (continued)

December 31, 2009

(000’s Omitted)

			Market
Shares or Principal Amount			Value Ì
CORPORATE BONDS: INVESTMENT GRADE — (continued)
		Finance and Insurance — (continued)
		HSBC Finance Corp.
$	12,500	5.50%,01/19/2016	$	13,114
		International Lease Finance Corp.
	10,500	5.00%,09/15/2012		8,804
	6,350	5.63%,09/15/2010		6,281
		Jackson National Life Insurance Co.
	12,650	8.15%,03/15/2027■		12,834
		John Deere Capital Corp.
	8,320	4.88%,10/15/2010		8,609
		JP Morgan Chase & Co.
	3,500	3.70%,01/20/2015		3,510
	10,375	5.13%,09/15/2014		10,943
		Kimco Realty Corp.
	7,880	5.78%,03/15/2016		7,780
		Liberty Mutual Group, Inc.
	8,750	5.75%,03/15/2014■		8,625
		Liberty Property L.P.
	1,725	6.63%,10/01/2017		1,673
		Merrill Lynch & Co., Inc.
	11,000	5.00%,02/03/2014		11,132
	1,000	6.40%,08/28/2017		1,053
	6,000	6.88%,04/25/2018		6,465
		Morgan Stanley
	13,000	5.38%,10/15/2015		13,432
		National City Corp.
	4,250	6.88%,05/15/2019		4,499
		New England Mutual Life Insurance Co.
	6,000	7.88%,02/15/2024■		6,387
		Nordea Bank AB
	1,790	3.70%,11/13/2014■		1,786
		Paccar Financial Corp.
	1,460	1.95%,12/17/2012		1,445
		Postal Square L.P.
	31,381	8.95%,06/15/2022		38,315
		Prologis Trust
	6,500	5.63%,11/15/2016		5,990
		Prudential Financial, Inc.
	8,000	5.50%,03/15/2016		8,011
		Realty Income Corp.
	4,830	6.75%,08/15/2019		4,730
		Republic New York Capital I
	500	7.75%,11/15/2006		459
		Simon Property Group L.P.
	9,065	6.10%,05/01/2016		9,251
		Sovereign Bancorp, Inc.
	4,795	8.75%,05/30/2018		5,541
		Sovereign Capital Trust IV
	7,250	7.91%,06/13/2036		6,237
		Svenska Handelsbanken AB
	2,900	4.88%,06/10/2014■		3,039
		UnitedHealth Group, Inc.
	2,500	5.50%,11/15/2012		2,669
		Wachovia Corp.
	10,000	5.25%,08/01/2014		10,352
		WEA Finance LLC
	5,000	7.13%,04/15/2018■		5,467
				362,969
		Health Care and Social Assistance — 0.5%
		CVS Corp.
	7,725	6.13%,08/15/2016		8,318
		Express Scripts, Inc.
	1,020	6.25%,06/15/2014		1,113
		Merck & Co., Inc.
	2,100	4.00%,06/30/2015		2,190
		Schering-Plough Corp.
	9,000	5.30%,12/01/2013		9,892
				21,513
		Information — 1.1%
		AT&T, Inc.
	2,510	6.80%,05/15/2036		2,673
		BellSouth Telecommunications
	650	7.00%,12/01/2095		637
		Comcast Corp.
	8,000	5.90%,03/15/2016		8,615
		Fiserv, Inc.
	6,400	6.13%,11/20/2012		6,969
		France Telecom S.A.
	1,300	4.38%,07/08/2014		1,358
		Intuit, Inc.
	7,900	5.40%,03/15/2012		8,393
		Oracle Corp.
	2,850	6.13%,07/08/2039		2,993
		Telecom Italia Capital
	2,900	7.00%,06/04/2018		3,191
		Time Warner Cable, Inc.
	4,580	5.85%,05/01/2017		4,812
		Verizon Communications, Inc.
	5,000	5.35%,02/15/2011		5,214
		Verizon Global Funding Corp.
	500	7.25%,12/01/2010		528
				45,383
		Machinery Manufacturing — 0.2%
		Xerox Corp.
	6,000	5.50%,05/15/2012		6,341
		Motor Vehicle & Parts Manufacturing — 0.2%
		DaimlerChrysler NA Holdings Corp.
	9,550	6.50%,11/15/2013		10,469
		Petroleum and Coal Products Manufacturing — 0.3%
		Atmos Energy Corp.
	5,875	6.35%,06/15/2017		6,234
		Ras Laffan Liquefied Natural Gas Co., Ltd.
	1,200	5.50%,09/30/2014 ■		1,257
		Weatherford International Ltd.
	5,500	5.95%,06/15/2012		5,887
				13,378
		Pipeline Transportation — 0.1%
		Kinder Morgan Energy Partners L.P.
	5,000	6.95%,01/15/2038		5,329
		Real Estate and Rental and Leasing — 0.2%
		COX Communications, Inc.
	9,000	5.45%,12/15/2014		9,642
		Retail Trade — 0.1%
		Staples, Inc.
	2,525	9.75%,01/15/2014		3,077

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

62

			Market
Shares or Principal Amount			Value Ì
CORPORATE BONDS: INVESTMENT GRADE — (continued)
		Soap, Cleaning Compound and Toilet
		Manufacturing — 0.3%
		Procter & Gamble Co.
$	11,203	9.36%,01/01/2021	$	13,663
		Utilities — 0.9%
		Consolidated Edison Co. of NY
	4,605	5.30%,12/01/2016		4,796
		Enel Finance International
	4,045	6.80%,09/15/2037 ■		4,473
		Indianapolis Power and Light
	8,000	6.60%,06/01/2037 ■		8,483
		MidAmerican Energy Co.
	6,000	5.65%,07/15/2012		6,477
		Niagara Mohawk Power Corp.
	2,510	3.55%,10/01/2014 ■		2,502
		Southern California Edison Co.
	8,000	5.55%,01/15/2037		7,954
		Taqa Abu Dhabi National Energy Co.
	2,965	5.88%,10/27/2016 ■		2,857
		Wisconsin Electric Power Co.
	1,960	4.25%,12/15/2019		1,915
				39,457
		Total corporate bonds: investment grade
		(cost $549,306)	$	562,778
MUNICIPAL BONDS — 0.8%
		General Obligations — 0.3%
		California State Taxable,
$	1,450	6.20%,10/01/2019	$	1,399
		Chicago Metropolitan Water Reclamation Dist
		Taxable,
	685	5.72%,12/01/2038		684
		Los Angeles USD,
	4,300	5.75%,07/01/2034		3,972
		Oregon School Boards Association, Taxable
		Pension,
	10,000	4.76%,06/30/2028		8,454
				14,509
		Higher Education (Univ., Dorms, etc.) — 0.2%
		Curators University, MO, Taxable System Facs
		Rev,
	2,170	5.96%,11/01/2039		2,216
		Massachusetts School Building Auth,
	2,500	5.72%,08/15/2039		2,457
		University of California,
	1,960	5.77%,05/15/2043		1,902
				6,575
		Housing (HFA’S, etc.) — 0.0%
		University of California,
	1,935	6.58%,05/15/2049		1,880
		Tax Allocation — 0.1%
		Dallas, TX, Area Rapid Transit Taxable Sales Tax Rev,
	2,200	6.00%,12/01/2044		2,253
		Transportation — 0.2%
		Bay Area Toll Auth,
	3,100	6.26%,04/01/2049		2,961
		Illinois State Toll Highway Auth, Taxable Rev,
	365	6.18%,01/01/2034		363
		Maryland State Transit Auth,
	1,350	5.89%,07/01/2043		1,352
		New York and New Jersey PA,
	975	5.86%,12/01/2024		1,012
	570	6.04%,12/01/2029		570
		North Texas Tollway Auth Rev Taxable,
	3,400	6.72%,01/01/2049		3,532
				9,790
		Total municipal bonds
		(cost $37,040)	$	35,007
U.S.GOVERNMENT AGENCIES — 0.5%
		Federal National Mortgage Association — 0.0%
$	68	6.50%,05/01/2036 — 07/01/2038	$	73

		Government National Mortgage Association — 0.5%
	6,031	6.00%,06/15/2024 — 05/15/2035		6,438
	2,024	6.50%,03/15/2026 — 02/15/2035		2,189
	7,912	7.00%,11/15/2031 — 11/15/2033		8,733
	76	7.50%,09/16/2035		84
	1,249	8.00%,09/15/2026 — 02/15/2031		1,434
	86	9.00%,06/20/2016 — 06/15/2022		96
				18,974
		Total U.S. government agencies
		(cost $17,773)	$	19,047
U.S.GOVERNMENT SECURITIES — 13.8%
		Other Direct Federal Obligations — 3.3%
		Federal Financing Corporation — 0.4%
$	6,500	5.24%,12/06/2013 O	$	5,736
	11,117	5.25%,12/27/2013 O		9,779
				15,515
		Tennessee Valley Authority — 2.9%
	64,300	4.38%,06/15/2015		67,478
	50,000	6.00%,03/15/2013		55,946
				123,424
				138,939
		U.S. TreasurySecurities — 10.5%
		U.S. TreasuryBonds — 2.1%
	5,000	4.25%,05/15/2039		4,691
	22,000	4.38%,02/15/2038		21,120
	18,000	6.00%,02/15/2026		21,057
	33,650	6.25%,08/15/2023		40,191
				87,059

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

63

Hartford Advisers HLS Fund

Schedule of Investments — (continued)

December 31, 2009

(000’s Omitted)

					Market
Shares or Principal Amount					Value Ì
U.S. GOVERNMENT SECURITIES — (continued)
		U.S. Treasury Notes — 8.4%
$	166,500	1.00%, 07/31/2011 — 09/30/2011			$	166,664
	30,000	1.38%, 05/15/2012				30,000
	42,000	2.38%, 08/31/2010				42,556
	23,000	2.75%, 02/15/2019				21,174
	35,000	3.88%, 02/15/2013 — 05/15/2018				36,035
	30,135	4.13%, 08/15/2010				30,840
	13,000	4.25%, 08/15/2013				14,028
	9,950	4.75%, 05/31/2012				10,745
						352,042
						439,101
		Total U.S. government securities
		(cost $566,907)			$	578,040
		Total long-term investments
		(cost $3,725,737)			$	4,054,483
		SHORT-TERM INVESTMENTS — 3.1%
		Repurchase Agreements — 3.1%
		BNP Paribas Securities Corp. TriParty Joint
		Repurchase Agreement (maturing on
		01/04/2010 in the amount of $30,355,
		collateralizedby FHLMC 4.00% — 6.00%,
		2022 — 2039,FNMA 5.00% — 7.00%,
		2028 — 2047, value of $30,962)
$	30,355	0.005%, 12/31/2009			$	30,355
		Deutsche Bank Securities TriParty Joint
		Repurchase Agreement (maturing on
		01/04/2010 in the amount of $55,988,
		collateralizedby FNMA 5.00% — 7.00%,
		2022 — 2040, value of $57,108)
	55,988	0.010%, 12/31/2009				55,988
		Morgan Stanley & Co., Inc. TriParty Joint
		Repurchase Agreement (maturing on
		01/04/2010 in the amount of $21,946,
		collateralizedby FHLMC 4.00% — 8.00%,
		2010 — 2039,FNMA 3.50% — 8.00%,
		2013 — 2049, value of $22,484)
	21,946	0.010%, 12/31/2009				21,946
		UBS Securities, Inc. Joint Repurchase
		Agreement (maturing on 01/04/2010 in the
		amount of $243, collateralized by
		U.S. Treasury Note 1.50%, 2013, value
		of $249)
	243	0.001%, 12/31/2009				243
		UBS Securities, Inc. TriParty Joint Repurchase
		Agreement (maturing on 01/04/2010 in the
		amount of $20,752, collateralized by FNMA
		4.00% — 8.25%, 2013 — 2040, value
		of $21,167)
	20,752	0.010%, 12/31/2009				20,752
						129,284
		Total short-term investments
		(cost $129,284)			$	129,284
		Total investments
		(cost $3,855,021) ▲	99.9	%	$	4,183,767
		Other assets and liabilities	0.1	%		2,500
		Total net assets	100.0	%	$	4,186,267

Note: Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 7.1% of total net assets at December 31, 2009. Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

▲ At December 31, 2009, the cost of securities for federal income tax purposes was $3,946,415 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	459,447
Unrealized Depreciation		(222,095	)
Net Unrealized Appreciation.	$	237,352

† The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2009, was $23,561, which represents 0.56% of total net assets. This amount excludes securities that are principally traded in certain foreign markets and whose prices are adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

● Currently non-income producing.

■ Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2009, was $67,763, which represents 1.62% of total net assets.

Y Convertible security.

O The interest rate disclosed for these securities represents the effective yield on the date of the acquisition.

Ù The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period
Acquired	Shares/Par		Security	Cost Basis
06/2007		11,241	Buck Holdings L.P.	$	10,665
04/2008		524	Washington Mutual, Inc. Private
			Placement Warrants		—
04/2008		4,194	Washington Mutual, Inc. Private
			Placement		36,700

The aggregate value of these securities at December 31, 2009 was $23,561 which represents 0.56% of total net assets.

PA — Port Authority

USD — United School District

Ì See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

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

64

Credit Default Swap Agreements Outstanding at December 31, 2009

									Unrealized
	Reference	Buy/Sell	Pay/Receive			Expiration	Notional		Appreciation/
Counterparty	Entity	Protection	Fixed Rate			Date	Amount		(Depreciation)
Goldman Sachs International	CDS North American Investment Grade Index	Sell		1.00	%	12/20/14	$	42,000	$	115

Investment Valuation Hierarchy Level Summary

December 31, 2009

	Total		Level 1		Level 2		Level 3
Assets:
Asset & Commercial Mortgage Backed Securities	$	38,478	$	—	$	38,478	$	—
Common Stocks ‡		2,746,758		2,630,627		92,570		23,561
Corporate Bonds: Investment Grade.		562,778		—		555,534		7,244
Municipal Bonds		35,007		—		35,007		—
Preferred Stocks ‡		74,375		74,375		—		—
U.S. Government Agencies		19,047		—		19,047		—
U.S. Government Securities		578,040		—		578,040		—
Warrants ‡		—		—		—		—
Short-Term Investments		129,284		—		129,284		—
Total	$	4,183,767	$	2,705,002	$	1,447,960	$	30,805
Other Financial Instruments *	$	115	$	—	$	115	$	—

‡ The Fund has all or primarily all of these equity securities categorized in a single level. Refer to the Schedule of Investments for further industry breakout.

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

						Change in
	Balance as of					Unrealized						Transfers In		Balance as of
	December 31,		Realized			Appreciation			Net Purchases			and/or Out of		December 31,
	2008		Gain (Loss)			(Depreciation)			(Sales)			Level 3		2009
Assets:
Asset & Commercial Mortgage Backed
Securities	$	4,580	$	(3,577	)	$	4,145	*	$	(5,148	)	$	—	$	—
Common Stock		10,906		—			12,655	†		—			—		23,561
Corporate Bonds		5,251		—			2,105	‡		(112	)		—		7,244
Total	$	20,737	$	(3,577	)	$	18,905		$	(5,260	)	$	—	$	30,805

* Change in unrealized gains or losses in the current period relating to assets still held at December 31, 2009 was $—.

† Change in unrealized gains or losses in the current period relating to assets still held at December 31, 2009 was $12,655.

‡ Change in unrealized gains or losses in the current period relating to assets still held at December 31, 2009 was $2,105.

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

65

Hartford Capital Appreciation HLS Fund

Schedule of Investments

December 31, 2009

(000’s Omitted)

		Market
Shares or Principal Amount		Value Ì
COMMON STOCKS — 97.9%
	Automobiles & Components — 3.9%
1,802	ArvinMeritor, Inc.	$	20,141
270	Daimler AG		14,407
26,457	Ford Motor Co. ●		264,567
386	Harley-Davidson, Inc.		9,732
234	Johnson Controls, Inc.		6,377
3,229	Modine Manufacturing Co.		38,231
582	Tenneco Automotive, Inc. ●		10,312
856	TRW Automotive Holdings Corp. ●		20,434
			384,201
	Banks — 5.0%
2,427	Banco Santander Brasil S.A.		33,828
972	HSBC Holding plc		11,087
1,236	Huntington Bancshares, Inc.		4,512
752	Itau Unibanco Banco Multiplo S.A. ADR		17,172
13,287	Mitsubishi UFJ Financial Group, Inc.		65,447
240	PNC Financial Services Group, Inc.		12,643
875	Popular, Inc.		1,977
2,008	Standard Chartered plc		50,698
397	Sumitomo Mitsui Financial Group, Inc.		11,398
11,255	Turkiye Garanti Bankasi A.S.		47,947
469	Washington Mutual, Inc. Private
	Placement Ù●†		59
8,910	Wells Fargo & Co.		240,491
			497,259
	Capital Goods — 6.6%
695	ABB Ltd. ADR		13,282
260	AMETEK, Inc.		9,946
575	Atlas Copco Ab		8,457
220	Barnes Group, Inc.		3,712
753	BE Aerospace, Inc. ●		17,697
378	Boeing Co.		20,470
378	Caterpillar, Inc.		21,559
173	Cummins, Inc.		7,921
79	Deere & Co.		4,278
546	Dover Corp.		22,739
247	Emerson Electric Co.		10,510
58	First Solar, Inc. ●		7,909
125	Flowserve Corp.		11,854
440	General Dynamics Corp.		29,961
8,378	General Electric Co.		126,765
2,840	Hansen Transmissions ●		5,002
434	Honeywell International, Inc.		17,000
247	Illinois Tool Works, Inc.		11,852
732	Ingersoll-Rand plc		26,168
165	Joy Global, Inc.		8,513
319	Lockheed Martin Corp.		24,040
793	Masco Corp.		10,948
39	Moog, Inc. Class A ●		1,125
370	Owens Corning, Inc. ●		9,482
231	Parker-Hannifin Corp.		12,459
263	Pentair, Inc.		8,479
192	Precision Castparts Corp.		21,193
1,935	Raytheon Co.		99,681
148	Regal-Beloit Corp.		7,672
85	Schneider Electric S.A.		9,880
77	Stanley Works.		3,956
851	Sunpower Corp. Class B ●		17,836
802	Terex Corp. ●		15,887
530	Trex Co., Inc. ●		10,382
186	Trina Solar Ltd. ADR ●		10,033
65	Vestas Wind Systems A/S ●		3,987
564	Yingli Green Energy Holdings ●		8,917
			661,552
	Commercial & Professional Services — 0.4%
1,166	Cenveo, Inc. ●		10,204
421	Corrections Corp. of America ●		10,331
585	Monster Worldwide, Inc. ●		10,183
252	Sykes Enterprises, Inc. ●		6,408
			37,126
	Consumer Durables & Apparel — 2.2%
2,709	Anta Sports Products Ltd.		3,995
88	Black & Decker Corp.		5,718
329	CIE Financiere Richemont S.A.		11,057
783	Coach, Inc.		28,609
511	Hanesbrands, Inc. ●		12,320
418	Iconix Brand Group, Inc. ●		5,286
1,081	Lennar Corp.		13,810
2,000	Newell Rubbermaid, Inc.		30,020
392	Nikon Corp.		7,739
49	NVR, Inc. ●		34,806
626	PDG Realty S.A.		6,233
3,364	Pulte Homes, Inc.		33,636
477	Tempur-Pedic International, Inc. ●		11,281
315	Toll Brothers, Inc. ●		5,927
219	Warnaco Group, Inc. ●		9,257
			219,694
	Consumer Services — 1.2%
537	Apollo Group, Inc. Class A ●		32,524
162	Bally Technologies, Inc. ●		6,703
300	Brinks Home Security Holding ●		9,786
149	Coinstar, Inc. ●		4,136
196	Corinthian Colleges, Inc. ●		2,704
96	Ctrip.com International Ltd. ADR ●		6,913
1,066	Educomp Solutions Ltd.		16,297
18	ITT Educational Services, Inc. ●		1,746
568	Las Vegas Sands Corp. ●		8,493
436	Life Time Fitness, Inc. ●		10,877
3,763	Shangri-La Asia Ltd.		7,050
321	Starbucks Corp. ●		7,409
1,506	Thomas Cook Group plc.		5,563
			120,201
	Diversified Financials — 5.1%
789	Ameriprise Financial, Inc.		30,613
5,966	Bank of America Corp.		89,853
151	Bank of New York Mellon Corp.		4,226
1,070	GAM Holding Ltd.		12,962
1,171	Goldman Sachs Group, Inc.		197,763
678	ING Groep N.V.		6,526
371	Invesco Ltd.		8,720
258	JP Morgan Chase & Co.		10,730
688	Julius Baer Group Ltd.		24,206
157	Morgan Stanley.		4,658
452	Oaktree Capital ■●		15,142
373	PennantPark Investment Corp.		3,329
87	State Street Corp.		3,796
467	TD Ameritrade Holding Corp. ●		9,052

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

66

		Market
Shares or Principal Amount		Value Ì
COMMON STOCKS — (continued)
	Diversified Financials — (continued)
3,005	UBS AG ●	$	46,801
2,762	UBS AG ADR ●		42,836
			511,213
	Energy — 9.2%
180	Alpha Natural Resources, Inc. ●		7,804
43	Anadarko Petroleum Corp.		2,697
430	Apache Corp.		44,394
1,961	Baker Hughes, Inc.		79,361
1,851	BG Group plc		33,430
92	Cabot Oil & Gas Corp.		4,006
2,961	Cameco Corp.		95,247
204	Canadian Natural Resources Ltd. ADR		14,692
342	Cobalt International Energy ●		4,733
1,135	Complete Production Services, Inc.●		14,757
446	Consol Energy, Inc.		22,215
64	Diamond Offshore Drilling, Inc.		6,252
792	Dresser-Rand Group, Inc. ●		25,048
1,480	Exxon Mobil Corp.		100,887
252	Halliburton Co.		7,592
241	Hess Corp.		14,562
26	Karoon Gas Australia Ltd. ●		242
1,212	Massey Energy Co.		50,910
262	Nabors Industries Ltd. ●		5,738
979	National Oilwell Varco, Inc.		43,182
251	Newfield Exploration Co. ●		12,101
393	Noble Corp.		15,983
704	Noble Energy, Inc.		50,142
661	OAO Gazprom Class S ADR.		16,866
150	Occidental Petroleum Corp.		12,169
174	Oceaneering International, Inc. ●		10,195
1,000	OMV AG		43,876
254	Overseas Shipholding Group, Inc.		11,155
289	Peabody Energy Corp.		13,084
86	PetroChina Co., Ltd. ADR		10,207
285	SBM Offshore N.V.		5,592
594	Smith International, Inc.		16,142
1,797	Suncor Energy, Inc.		63,500
574	Total S.A. ADR		36,740
70	Transocean, Inc. ●		5,795
400	Tsakos Energy Navigation Ltd.		5,870
376	Weatherford International Ltd. ●		6,734
152	Whiting Petroleum Corp. ●		10,868
			924,768
	Food & Staples Retailing — 1.7%
1,971	CVS/Caremark Corp.		63,501
447	Kroger Co.		9,183
24,070	Olam International Ltd.		45,224
357	Sysco Corp.		9,972
818	Wal-Mart Stores, Inc.		43,729
			171,609
	Food, Beverage & Tobacco — 1.5%
88	BRF Brasil Foods S.A. ADR		4,624
219	Groupe Danone		13,405
523	Imperial Tobacco Group plc		16,487
6	Japan Tobacco, Inc.		19,894
1,537	Kirin Brewery Co., Ltd.		24,646
105	Nestle S.A.		5,072

633	PepsiCo, Inc.	38,474
842	Unilever N.V. CVA	27,395
		149,997
	Health Care Equipment & Services — 7.1%
2,030	ATS Medical, Inc. ●	6,557
66	Bard (C.R.), Inc.	5,125
9,664	Boston Scientific Corp. ●	86,977
1,020	Cardinal Health, Inc.	32,883
125	CIGNA Corp.	4,402
1,827	Covidien plc	87,518
318	Cyberonics, Inc. ●	6,504
90	Edwards Lifesciences Corp. ●	7,845
885	Hologic, Inc. ●	12,837
80	Hospira, Inc. ●	4,087
7	Intuitive Surgical, Inc. ●	2,001
130	Inverness Medical Innovation, Inc. ●	5,380
2,073	McKesson Corp.	129,550
2,065	Medtronic, Inc.	90,833
709	St. Jude Medical, Inc. ●	26,073
350	SXC Health Solutions Corp. ●	18,883
5,713	UnitedHealth Group, Inc.	174,122
357	Volcano Corp. ●	6,198
		707,775
	Household & Personal Products — 0.5%
281	Herbalife Ltd.	11,397
149	Medifast, Inc. ●	4,553
421	Procter & Gamble Co.	25,531
		41,481
	Insurance — 4.5%
4,880	ACE Ltd.	245,952
555	Assured Guaranty Ltd.	12,072
2,422	China Life Insurance Co., Ltd.	11,852
444	Chubb Corp.	21,835
157	Everest Re Group Ltd.	13,451
1,055	Fidelity National Financial, Inc.	14,199
156	First American Financial Corp.	5,152
509	Lincoln National Corp.	12,667
2,972	Marsh & McLennan Cos., Inc.	65,630
249	Platinum Underwriters Holdings Ltd.	9,530
220	Principal Financial Group, Inc.	5,298
318	Reinsurance Group of America, Inc.	15,148
793	Unum Group	15,474
11	White Mountains Insurance Group Ltd.	3,793
		452,053
	Materials — 5.9%
1,377	AngloGold Ltd. ADR.	55,336
974	Barrick Gold Corp.	38,357
244	Cliff’s Natural Resources, Inc.	11,252
465	CRH plc	12,711
974	Fibria Celulose S.A. ADR ●	22,245
19	FMC Corp.	1,077
477	Freeport-McMoRan Copper & Gold, Inc. ●	38,295
94	HeidelbergCement AG	6,480
10,872	Huabao International Holdings Ltd.	11,691
543	Impala Platinum Holdings Ltd.	14,853
216	Martin Marietta Materials, Inc.	19,330
474	Mosaic Co.	28,324
1,480	Newmont Mining Corp.	70,005

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

67

Hartford Capital Appreciation HLS Fund

Schedule of Investments — (continued)

December 31, 2009

(000’s Omitted)

		Market
Shares or Principal Amount		Value Ì
COMMON STOCKS — (continued)
	Materials — (continued)
260	Nucor Corp.	$	12,152
315	Owens-Illinois, Inc. ●		10,367
200	Potash Corp. of Saskatchewan, Inc.		21,700
116	Potash Corp. of Saskatchewan, Inc. ADR		12,687
75	Randgold Resources Ltd. ADR		5,950
6,115	Rexam plc		28,586
312	Rio Tinto plc		16,854
82	Rio Tinto plc ADR		17,619
848	Sino Forest Corp. ●		15,704
203	Southern Copper Corp.		6,693
232	Teck Cominco Ltd. Class B ●		8,114
938	Vedanta Resources plc		39,246
210	Vulcan Materials Co.		11,061
1,665	Xstrata plc		29,697
1,365	Yamana Gold, Inc.		15,534
			581,920
	Media — 1.8%
4,515	Comcast Corp. Class A		76,125
871	Comcast Corp. Special Class A		13,943
261	DreamWorks Animation SKG, Inc. ●		10,415
30	Harvey Weinstein Co. Holdings
	Class A-1 Ù●†		—
135	Scripps Networks Interactive Class A		5,618
450	Viacom, Inc. Class B ●		13,369
348	Virgin Media, Inc.		5,860
1,400	Walt Disney Co.		45,150
1,031	WPP plc		10,087
			180,567
	Pharmaceuticals, Biotechnology & Life Sciences — 10.2%
332	Abbott Laboratories		17,936
502	Alkermes, Inc. ●		4,724
850	Amgen, Inc. ●		48,056
66	Amylin Pharmaceuticals, Inc. ●		932
5	Biovail Corp.		67
1,505	Bristol-Myers Squibb Co.		37,990
3,369	Daiichi Sankyo Co., Ltd.		70,657
3,307	Elan Corp. plc ADR ●		21,564
902	Eli Lilly & Co.		32,213
541	Gilead Sciences, Inc. ●		23,402
290	Icon plc ADR ●		6,293
631	Impax Laboratories, Inc. ●		8,580
330	Johnson & Johnson		21,268
1,613	King Pharmaceuticals, Inc. ●		19,796
68	Life Technologies Corp. ●		3,565
5,037	Merck & Co., Inc.		184,059
6,266	Novavax, Inc. ●		16,668
11,164	Pfizer, Inc.		203,067
956	Roche Holding AG		163,513
479	Shionogi & Co., Ltd.		10,377
1,899	Teva Pharmaceutical Industries Ltd. ADR		106,681
349	Thermo Fisher Scientific, Inc. ●		16,620
189	UCB S.A.		7,896
88	Waters Corp. ●		5,470
			1,031,394
	Real Estate — 0.6%
822	Chimera Investment Corp.		3,188
5,000	China Overseas Land & Investment Ltd.		10,476

2,432	Hang Lung Properties Ltd.	9,534
298	Iguatemi Emp de Shopping	5,818
2,250	Sun Hung Kai Properties Ltd.	33,463
		62,479
	Retailing — 4.7%
279	Abercrombie & Fitch Co. Class A	9,737
189	Advance Automotive Parts, Inc.	7,662
125	Amazon.com, Inc. ●	16,835
909	Best Buy Co., Inc.	35,879
141	Blue Nile, Inc. ●	8,948
29,055	Buck Holdings L.P. Ù●†	59,539
213	Expedia, Inc. ●	5,471
352	GameStop Corp. Class A ●	7,723
1,352	Gap, Inc.	28,316
94	Guess?, Inc.	3,970
536	Home Depot, Inc.	15,515
1,077	Lowe’s Co., Inc.	25,196
234	Nordstrom, Inc.	8,786
475	Nutri/System, Inc.	14,800
417	Sherwin-Williams Co.	25,683
522	Shutterfly, Inc. ●	9,297
4,872	Staples, Inc.	119,809
140	The Buckle, Inc.	4,096
1,467	TJX Cos., Inc.	53,637
391	Urban Outfitters, Inc. ●	13,692
		474,591
	Semiconductors & Semiconductor Equipment — 2.5%
620	Altera Corp.	14,025
817	Analog Devices, Inc.	25,793
1,257	ASML Holding N.V. ADR	42,842
623	Intel Corp.	12,708
785	Intersil Corp.	12,042
334	Lam Research Corp. ●	13,085
607	MEMC Electronic Materials, Inc. ●	8,271
863	ON Semiconductor Corp. ●	7,607
472	Skyworks Solutions, Inc. ●	6,703
5,620	Taiwan Semiconductor
	Manufacturing Co., Ltd. ADR	64,296
556	Texas Instruments, Inc.	14,488
1,258	TriQuint Semiconductor, Inc. ●	7,548
158	Varian Semiconductor Equipment
	Associates, Inc. ●	5,665
626	Xilinx, Inc.	15,685
		250,758
	Software & Services — 8.5%
3,011	Activision Blizzard, Inc. ●	33,456
638	Automatic Data Processing, Inc.	27,303
413	BMC Software, Inc. ●	16,576
75	CACI International, Inc. Class A ●	3,654
1,968	Cadence Design Systems, Inc. ●	11,785
247	Check Point Software
	Technologies Ltd. ADR ●	8,352
2,415	Cia Brasileira de Meios de Pagamentos.	21,276
122	Concur Technologies, Inc. ●	5,207
4,271	eBay, Inc. ●	100,542
107	Equinix, Inc. ●	11,337
217	Google, Inc. ●	134,636
217	Longtop Financial Technologies Ltd. ●	8,031

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

68

			Market
Shares or Principal Amount			Value Ì
COMMON STOCKS — (continued)
		Software & Services — (continued)
	182	Mastercard, Inc.	$	46,511
	3,708	Microsoft Corp.		113,064
	137	Netease.com, Inc. ●		5,167
	5,611	Oracle Corp.		137,682
	119	Shanda Interactive Entertainment Ltd. ADR ●		6,256
	833	Sohu.com, Inc. ●		47,738
	120	Visa, Inc.		10,521
	120	Vistaprint N.V. ●		6,771
	370	Vocus, Inc. ●		6,655
	4,037	Western Union Co.		76,091
	1,287	Yahoo!, Inc. ●		21,597
				860,208
		Technology Hardware & Equipment — 11.2%
	623	Apple, Inc. ●		131,445
	471	Arrow Electronics, Inc. ●		13,958
	193	Avnet, Inc. ●		5,812
	9,245	Cisco Systems, Inc. ●		221,334
	2,796	Corning, Inc.		53,984
	1,200	Dell, Inc. ●		17,234
	3,130	EMC Corp. ●		54,683
	1,333	Emulex Corp. ●		14,530
	1,693	Flextronics International Ltd. ●		12,375
	303	Hewlett-Packard Co.		15,625
	23,961	Hon Hai Precision Industry Co., Ltd.		112,055
	1,017	IBM Corp.		133,129
	449	Jabil Circuit, Inc.		7,792
	777	JDS Uniphase Corp. ●		6,407
	493	Juniper Networks, Inc. ●		13,138
	2,175	Motorola, Inc. ●		16,876
	640	NetApp, Inc. ●		22,001
	982	QLogic Corp. ●		18,535
	2,892	Qualcomm, Inc.		133,765
	610	Riverbed Technology, Inc. ●		14,017
	1,968	SanDisk Corp. ●		57,064
	805	Seagate Technology		14,638
	75	Solar Cayman Ltd. Ù●†		616
	1,800	Telefonaktiebolaget LM Ericsson ADR		16,542
	154	Teradata Corp. ●		4,851
				1,112,406
		Telecommunication Services — 1.0%
	1,847	AT&T, Inc.		51,760
	136	Brasil Telecom S.A. ADR.		3,973
	655	Iridium Communications, Inc. ●		5,257
	2,291	MTN Group Ltd.		36,463
				97,453
		Transportation — 2.2%
	1,414	Air Asia BHD ●		567
	628	AMR Corp. ●		4,857
	1,412	British Airways plc		4,247
	155	C.H. Robinson Worldwide, Inc.		9,074
	353	Continental Airlines, Inc. ●		6,333
	205	Con-way, Inc.		7,146
	8,558	Delta Air Lines, Inc. ●		97,388
	309	FedEx Corp.		25,761
	196	J.B. Hunt Transport Services, Inc.		6,309
	84	Kuehne & Nagel International AG		8,128
	161	TNT N.V.		4,960
	332	UAL Corp. ●		4,290
	650	United Parcel Service, Inc. Class B		37,274
	870	US Airways Group, Inc. ●		4,212
				220,546
		Utilities — 0.4%
	427	Allegheny Energy, Inc.		10,028
	245	Entergy Corp.		20,043
	58	FirstEnergy Corp.		2,694
	401	Northeast Utilities		10,344
				43,109
		Total common stocks
		(cost $8,691,839)	$	9,794,360
PREFERRED STOCKS — 0.7%
		Automobiles & Components — 0.4%
	479	Volkswagen AG Preferred	$	45,165
		Diversified Financials — 0.3%
	1,721	Bank of America Corp. Y		25,671
		Total preferred stocks
		(cost $72,421)	$	70,836
WARRANTS — 0.0%
		Banks — 0.0%
	59	Washington Mutual, Inc. Private
		Placement Ù●†	$	—
		Capital Goods — 0.0%
	150	Capstone Turbine Corp. Ù●		—
		Pharmaceuticals, Biotechnology & Life Sciences — 0.0%
	510	Novavax, Inc. Ù●		—
		Total warrants
		(cost $—)	$	—
EXCHANGE TRADED FUNDS — 0.3%
		Diversified Financials — 0.3%
	273	S & P MidCap 400 Depositary Receipts	$	35,984
		Total exchange traded funds
		(cost $30,213)	$	35,984
CORPORATE BONDS: NON-INVESTMENT GRADE — 0.2%
		Finance and Insurance — 0.2%
		MBIA Insurance Co.
$	53,500	14.00%, 01/15/2033 ■Δ	$	23,005
		Total corporate bonds: non-investment grade
		(cost $53,134)	$	23,005
		Total long-term investments
		(cost $8,847,607)	$	9,924,185
SHORT-TERM INVESTMENTS — 1.0%
		Repurchase Agreements — 1.0%
		BNP Paribas Securities Corp. TriParty Joint
		Repurchase Agreement (maturing on
		01/04/2010 in the amount of $22,480,
		collateralized by FHLMC 4.00% — 6.00%,
		2022 — 2039, FNMA 5.00% — 7.00%,
		2028 — 2047, value of $22,930)
$	22,480	0.005%, 12/31/2009	$	22,480

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

69

Hartford Capital Appreciation HLS Fund

Schedule of Investments — (continued)

December 31, 2009

(000’s Omitted)

					Market
Shares or Principal Amount					Value Ì
SHORT-TERM INVESTMENTS — (continued)
		Repurchase Agreements — (continued)
		Deutsche Bank Securities TriParty Joint
		Repurchase Agreement (maturing on
		01/04/2010 in the amount of $41,463,
		collateralizedby FNMA 5.00% — 7.00%,
		2022 — 2040, value of $42,292)
$	41,463	0.010%, 12/31/2009			$	41,463
		Morgan Stanley & Co., Inc. TriParty Joint
		Repurchase Agreement (maturing on
		01/04/2010 in the amount of $16,252,
		collateralizedby FHLMC 4.00% — 8.00%,
		2010 — 2039,FNMA 3.50% — 8.00%,
		2013 — 2049, value of $16,651)
	16,252	0.010%, 12/31/2009				16,252
		UBS Securities, Inc. Joint Repurchase
		Agreement (maturing on 01/04/2010 in the
		amount of $180, collateralized by
		U.S. Treasury Note 1.50%, 2013, value
		of $184)
	180	0.001%, 12/31/2009				180
		UBS Securities, Inc. TriParty Joint Repurchase
		Agreement (maturing on 01/04/2010 in the
		amount of $15,368, collateralized by FNMA
		4.00% — 8.25%, 2013 — 2040, value
		of $15,676)
	15,369	0.010%, 12/31/2009				15,369
						95,744
		Total short-term investments
		(cost $95,744)			$	95,744
		Total investments
		(cost $8,943,351) ▲	100.1	%	$	10,019,929
		Other assets and liabilities	(0.1	)%		(13,803	)
		Total net assets	100.0	%	$	10,006,126

Note: Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 23.1% of total net assets at December 31, 2009.

Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

▲ At December 31, 2009, the cost of securities for federal income tax purposes was $9,310,929 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	1,353,042
Unrealized Depreciation		(644,042	)
Net Unrealized Appreciation	$	709,000

† The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2009, was $60,214, which represents 0.60% of total net assets. This amount excludes securities that are principally traded in certain foreign markets and whose prices are adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

●	Currently non-income producing.
Δ	Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2009.

■ Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2009, was $38,147, which represents 0.38% of total net assets.

Y Convertible security.

Ù The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.

Period
Acquired	Shares/Par		Security	Cost Basis
06/2007		29,055	Buck Holdings L.P.	$	27,567
09/2008		150	Capstone Turbine Corp. Warrants		—
10/2005		30	Harvey Weinstein Co. Holdings
			Class A-1 - Reg D		27,951
07/2008		510	Novavax, Inc. Warrants		—
03/2007		75	Solar Cayman Ltd. - 144A		994
04/2008		59	Washington Mutual, Inc. Private
			Placement Warrants		—
04/2008		469	Washington Mutual, Inc. Private
			Placement		4,100

The aggregate value of these securities at December 31, 2009 was $60,214 which represents 0.60% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2009

						Unrealized
	Market		Contract		Delivery	Appreciation/
Description	ValueÌ		Amount		Date	(Depreciation)
British Pound (Buy)	$	12,732	$	12,537	01/04/10	$	195
British Pound (Buy)		2,151		2,139	01/05/10		12
British Pound (Sell)		499		491	01/04/10		(8	)
Canadian Dollar (Buy)		522		517	01/05/10		5
Canadian Dollar (Buy)		115		114	01/06/10		1
Euro (Sell)		128,136		128,179	12/15/10		43
Euro (Sell)		75,255		75,212	12/15/10		(43	)
Hong Kong Dollar (Sell)		88		88	01/04/10		—
Hong Kong Dollar (Sell)		64		64	01/05/10		—
Japanese Yen (Buy)		4,078		4,151	01/04/10		(73	)
Japanese Yen (Buy)		3,189		3,239	01/05/10		(50	)
Japanese Yen (Buy)		9,258		9,347	01/06/10		(89	)
Japanese Yen (Sell)		21,804		21,785	12/15/10		(19	)
Japanese Yen (Sell)		9,218		9,900	03/17/10		682
Japanese Yen (Sell)		23,053		23,376	06/23/10		323
Japanese Yen (Sell)		34,252		34,934	12/15/10		682
Japanese Yen (Sell)		47,770		48,425	12/15/10		655
						$	2,316

Ì See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

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

70

Investment Valuation Hierarchy Level Summary

December 31, 2009

	Total		Level 1		Level 2		Level 3
Assets:
Common Stocks
Automobiles & Components	$	384,201	$	369,794	$	14,407	$	—
Banks		497,259		310,623		186,577		59
Capital Goods		661,552		634,226		27,326		—
Commercial & Professional Services		37,126		37,126		—		—
Consumer Durables & Apparel		219,694		196,903		22,791		—
Consumer Services.		120,201		91,291		28,910		—
Diversified Financials		511,213		429,782		66,289		15,142
Energy		924,768		841,628		83,140		—
Food & Staples Retailing		171,609		126,385		45,224		—
Food, Beverage & Tobacco		149,997		43,098		106,899		—
Health Care Equipment & Services		707,775		707,775		—		—
Household & Personal Products		41,481		41,481		—		—
Insurance		452,053		440,201		11,852		—
Materials		581,920		421,802		160,118		—
Media.		180,567		170,480		10,087		—
Pharmaceuticals, Biotechnology & Life Sciences		1,031,394		778,951		252,443		—
Real Estate		62,479		9,006		53,473		—
Retailing		474,591		415,052		—		59,539
Semiconductors & Semiconductor Equipment		250,758		250,758		—		—
Software & Services.		860,208		860,208		—		—
Technology Hardware & Equipment.		1,112,406		999,735		112,055		616
Telecommunication Services		97,453		60,990		36,463		—
Transportation		220,546		202,644		17,902		—
Utilities		43,109		43,109		—		—
Total		9,794,360		8,483,048		1,235,956		75,356
Corporate Bonds: Non-Investment Grade		23,005		—		23,005		—
Exchange Traded Funds		35,984		35,984		—		—
Preferred Stocks ‡		70,836		25,671		45,165		—
Warrants ‡		—		—		—		—
Short-Term Investments		95,744		—		95,744		—
Total	$	10,019,929	$	8,544,703	$	1,399,870	$	75,356
Other Financial Instruments *	$	2,598	$	—	$	2,598	$	—
Liabilities:
Other Financial Instruments *	$	282	$	—	$	282	$	—

‡ The Fund has all or primarily all of these equity securities categorized in a single level. Refer to the Schedule of Investments for further industry breakout.

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

					Change in
	Balance as of				Unrealized					Transfers In			Balance as of
	December 31,		Realized		Appreciation			Net Purchases		and/or Out of			December 31,
	2008		Gain (Loss)		(Depreciation)			(Sales)		Level 3			2009
Assets:
Common Stock	$	46,381	$	—	$	30,049	*	$	1,444	$	(2,518	)	$	75,356
Corporate Bonds		15,599		—		—	†		—		(15,599	)		—
Total	$	61,980	$	—	$	30,049		$	1,444	$	(18,117	)	$	75,356

*	Change in unrealized gains or losses in the current period relating to assets still held at December 31, 2009 was $33,418.
†	Change in unrealized gains or losses in the current period relating to assets still held at December 31, 2009 was $—.

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

71

Hartford Disciplined Equity HLS Fund

Schedule of Investments

December 31, 2009

(000’s Omitted)

		Market
Shares or Principal Amount		Value Ì
COMMON STOCKS — 98.1%
	Automobiles & Components — 1.3%
955	Ford Motor Co. ●	$	9,546
264	TRW Automotive Holdings Corp. ●		6,292
			15,838
	Banks — 4.7%
414	PNC Financial Services Group, Inc.		21,829
1,257	Wells Fargo & Co.		33,929
			55,758
	Capital Goods — 7.7%
76	3M Co.		6,316
102	Caterpillar, Inc.		5,801
134	Cooper Industries plc Class A		5,705
330	Dover Corp.		13,744
267	General Dynamics Corp.		18,174
110	Northrop Grumman Corp.		6,143
161	Precision Castparts Corp.		17,733
77	Raytheon Co.		3,962
199	United Technologies Corp.		13,799
			91,377
	Commercial & Professional Services — 0.8%
164	Manpower, Inc.		8,946
	Consumer Durables & Apparel — 0.5%
386	Newell Rubbermaid, Inc.		5,791
	Consumer Services — 1.4%
156	Apollo Group, Inc. Class A ●		9,469
70	ITT Educational Services, Inc. ●		6,688
			16,157
	Diversified Financials — 4.2%
184	Ameriprise Financial, Inc.		7,143
1,264	Bank of America Corp.		19,036
139	Goldman Sachs Group, Inc.		23,401
			49,580
	Energy — 9.7%
138	Baker Hughes, Inc.		5,566
225	ConocoPhillips Holding Co.		11,511
128	Consol Energy, Inc. 1		6,395
236	Hess Corp.		14,278
552	Marathon Oil Corp.		17,224
605	Nabors Industries Ltd. ●		13,239
215	National Oilwell Varco, Inc.		9,475
244	Occidental Petroleum Corp.		19,874
128	Peabody Energy Corp. Ø		5,764
220	Ultra Petroleum Corp. ●		10,984
			114,310
	Food & Staples Retailing — 0.7%
218	Walgreen Co.		7,998
	Food, Beverage & Tobacco — 6.8%
946	Altria Group, Inc.		18,578
101	Archer Daniels Midland Co.		3,147
167	Dr. Pepper Snapple Group		4,737
145	Lorillard, Inc.		11,657
219	PepsiCo, Inc.		13,340
590	Philip Morris International, Inc.		28,441
			79,900
	Health Care Equipment & Services — 5.1%
185	McKesson Corp.		11,544
209	Medtronic, Inc.		9,179
408	St. Jude Medical, Inc. ●		15,021
490	UnitedHealth Group, Inc.		14,929
173	Wellpoint, Inc. ●		10,107
			60,780
	Insurance — 5.2%
294	Allied World Assurance Holdings Ltd.		13,554
466	Axis Capital Holdings Ltd.		13,225
171	Everest Re Group Ltd.		14,660
573	Genworth Financial, Inc. ●		6,507
115	Prudential Financial, Inc.		5,702
378	Unum Group		7,377
			61,025
	Materials — 0.8%
126	Freeport-McMoRan Copper & Gold, Inc. ●Ø		10,117
	Pharmaceuticals, Biotechnology & Life Sciences — 12.6%
263	Abbott Laboratories		14,189
411	Amgen, Inc. ●		23,245
608	Eli Lilly & Co.		21,704
753	Forest Laboratories, Inc. ●		24,179
286	Gilead Sciences, Inc. ●		12,369
186	Johnson & Johnson		11,948
769	Merck & Co., Inc.		28,103
722	Pfizer, Inc.		13,138
			148,875
	Real Estate — 0.9%
587	Annaly Capital Management, Inc.		10,188
	Retailing — 6.3%
105	Amazon.com, Inc. ●		14,124
189	Best Buy Co., Inc. Q		7,466
221	Big Lots, Inc. ●		6,416
233	Expedia, Inc. ●		6,001
941	Gap, Inc.		19,710
209	Nordstrom, Inc.		7,843
1,064	Office Depot, Inc. ●		6,863
182	TJX Cos., Inc.		6,637
			75,060
	Semiconductors & Semiconductor Equipment — 3.4%
191	Maxim Integrated Products, Inc.		3,877
892	ON Semiconductor Corp. ●		7,854
626	Texas Instruments, Inc.		16,311
495	Xilinx, Inc.		12,392
			40,434
	Software & Services — 10.3%
201	Accenture plc.		8,354
148	BMC Software, Inc. ●		5,923
336	eBay, Inc. ●		7,902
33	Google, Inc. ●		20,583
22	Mastercard, Inc.		5,708

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

72

			Market
Shares or Principal Amount			Value Ì
COMMON STOCKS — (continued)
		Software & Services — (continued)
	1,096	Microsoft Corp.	$	33,429
	891	Oracle Corp.		21,872
	93	Sohu.com, Inc. ●		5,299
	288	VeriSign, Inc. ●		6,969
	306	Western Union Co.		5,759
				121,798
		Technology Hardware & Equipment — 7.9%
	160	Apple, Inc. ●Ø		33,653
	558	Cisco Systems, Inc. ●		13,351
	179	Hewlett-Packard Co.		9,226
	139	IBM Corp.		18,169
	190	Qualcomm, Inc.		8,771
	570	Seagate Technology Ø		10,366
				93,536
		Telecommunication Services — 2.1%
	896	AT&T, Inc.		25,105
		Utilities — 5.7%
	252	Entergy Corp.		20,616
	249	Exelon Corp.		12,144
	232	FirstEnergy Corp.		10,795
	51	PG&E Corp.		2,264
	640	UGI Corp.		15,477
	276	Xcel Energy, Inc.		5,850
				67,146
		Total common stocks
		(cost $1,072,851)	$	1,159,719
		Total long-term investments
		(cost $1,072,851)	$	1,159,719
SHORT-TERM INVESTMENTS — 1.4%
		Repurchase Agreements — 1.4%
		BNP Paribas Securities Corp. TriParty Joint
		Repurchase Agreement (maturing on 01/04/2010
		in the amount of $3,949, collateralized by
		FHLMC 4.00% — 6.00%, 2022 — 2039,FNMA
		5.00% — 7.00%, 2028 — 2047, value of 4,028)
$	3,949	0.005%, 12/31/2009	$	3,949
		Deutsche Bank Securities TriParty Joint
		Repurchase Agreement (maturing on 01/04/2010
		in the amount of $7,283, collateralized by
		FNMA 5.00% — 7.00%, 2022 — 2040, value
		of $7,429)
	7,283	0.010%, 12/31/2009		7,283
		Morgan Stanley & Co., Inc. TriParty Joint
		Repurchase Agreement (maturing on 01/04/2010
		in the amount of $2,855, collateralized by
		FHLMC 4.00% — 8.00%, 2010 — 2039,FNMA
		3.50% — 8.00%, 2013 — 2049, value of
		$2,925)
	2,855	0.010%, 12/31/2009		2,855
		UBS Securities, Inc. Joint Repurchase Agreement
		(maturing on 01/04/2010 in the amount of $32,
		collateralized by U.S. Treasury Note 1.50%,
		2013, value of $32)
	32	0.001%, 12/31/2009		32
		UBS Securities, Inc. TriParty Joint Repurchase
		Agreement (maturing on 01/04/2010 in the
		amount of $2,700, collateralized by FNMA
		4.00% — 8.25%, 2013 — 2040, value of $2,754)

$	2,699	0.010%, 12/31/2009			$	2,699
						16,818
		Total short-term investments
		(cost $16,818)			$	16,818
		Total investments
		(cost $1,089,669) ▲	99.5	%	$	1,176,537
		Other assets and liabilities	0.5	%		5,401
		Total net assets	100.0	%	$	1,181,938

Note: Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 0.4% of total net assets at December 31, 2009.

Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

▲ At December 31, 2009, the cost of securities for federal income tax purposes was $1,089,749 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	171,851
Unrealized Depreciation		(85,063	)
Net Unrealized Appreciation	$	86,788

● Currently non-income producing.

Q At December 31, 2009, these securities were designated to cover open call options written as follows:

							Unrealized
Issuer/ Exercise Price/	Number of		Market		Premiums		Appreciation
Expiration Date	Contracts*		Value Ì		Received		(Depreciation)
Best Buy Co., Inc.,
$44.00, Jan, 2010		423	$	4	$	27	$	23
Consol Energy, Inc.,
$50.00, Jan, 2010		253		42		35		(7	)
			$	46	$	62	$	16

* The number of contracts does not omit 000’s.

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

73

Hartford Disciplined Equity HLS Fund

Schedule of Investments — (continued)

December 31, 2009

(000’s Omitted)

Ø At December 31, 2009, securities valued at $2,078 and cash of $2,844 collateralized the maximum delivery obligation of open put options written as follows:

							Unrealized
Issuer/ Exercise Price/	Number of		Market		Premiums		Appreciation
Expiration Date	Contracts*		Value Ì		Received		(Depreciation)
Apple, Inc.,
$180.00, Jan, 2010		118	$	2	$	32	$	30
Freeport-McMoRan Copper & Gold, Inc.,
$70.00, Jan, 2010		220		5		16		11
Peabody Energy Corp.,
$40.00, Jan, 2010		260		4		25		21
Seagate Technology,
$14.00, Jan, 2010		156		—		4		4
			$	11	$	77	$	66

* The number of contracts does not omit 000’s.

Futures Contracts Outstanding at December 31, 2009

					Unrealized
	Number of			Expiration	Appreciation/
Description	Contracts*		Position	Month	(Depreciation)
S&P 500 Mini		225	Long	Mar 2010	$	82

* The number of contracts does not omit 000’s.

Cash of $1,013 was pledged as initial margin deposit for open futures contracts at December 31, 2009.

Ì See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of securities.

Investment Valuation Hierarchy Level Summary

December 31, 2009

	Total		Level 1		Level 2		Level 3
Assets:
Common Stocks ‡	$	1,159,719	$	1,159,719	$	—	$	—
Short-Term Investments		16,818		—		16,818		—
Total	$	1,176,537	$	1,159,719	$	16,818	$	—
Other Financial Instruments *	$	171	$	171	$	—	$	—
Liabilities:
Other Financial Instruments *	$	7	$	7	$	—	$	—

‡ The Fund has all or primarily all of these equity securities categorized in a single level. Refer to the Schedule of Investments for further industry breakout.

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.

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

74

Hartford Dividend and Growth HLS Fund

Schedule of Investments

December 31, 2009

(000’s Omitted)

		Market
Shares or Principal Amount		Value Ì
COMMON STOCKS — 96.5%
	Automobiles & Components — 0.5%
775	Honda Motor Co., Ltd. ADR	$	26,262
	Banks — 4.4%
886	PNC Financial Services Group, Inc.		46,783
177	SunTrust Banks, Inc.		3,593
1,633	US Bancorp		36,763
1,554	Washington Mutual, Inc. Private
	Placement Ù●†		195
5,024	Wells Fargo & Co.		135,601
			222,935
	Capital Goods — 9.5%
304	Caterpillar, Inc.		17,314
1,439	Deere & Co.		77,857
683	General Dynamics Corp.		46,581
1,151	General Electric Co.		17,410
1,275	Honeywell International, Inc.		49,968
725	Illinois Tool Works, Inc.		34,802
719	Lockheed Martin Corp.		54,199
756	Parker-Hannifin Corp.		40,733
1,267	Pentair, Inc.		40,918
802	Raytheon Co.		41,335
629	Siemens AG ADR		57,707
			478,824
	Commercial & Professional Services — 1.1%
1,651	Waste Management, Inc.		55,824
	Diversified Financials — 6.1%
1,313	Ameriprise Financial, Inc.		50,978
3,400	Bank of America Corp.		51,204
156	Goldman Sachs Group, Inc.		26,390
2,339	JP Morgan Chase & Co.		97,449
517	Morgan Stanley		15,288
608	State Street Corp.		26,464
2,714	UBS AG ADR ●		42,094
			309,867
	Energy — 15.6%
1,381	Anadarko Petroleum Corp.		86,171
1,334	Baker Hughes, Inc.		54,008
1,129	BP plc ADR.		65,465
1,135	Cenovus Energy, Inc.		28,606
2,169	Chevron Corp.		166,976
812	ConocoPhillips Holding Co.		41,443
988	EnCana Corp. ADR.		32,010
1,607	Exxon Mobil Corp.		109,593
1,908	Marathon Oil Corp.		59,565
1,835	Total S.A. ADR		117,526
526	XTO Energy, Inc.		24,496
			785,859
	Food & Staples Retailing — 2.3%
959	CVS/Caremark Corp.		30,886
1,638	Wal-Mart Stores, Inc.		87,567
			118,453
	Food, Beverage & Tobacco — 4.4%
1,477	Nestle S.A. ADR		71,433
1,141	PepsiCo, Inc.		69,391
1,376	Philip Morris International, Inc.		66,319
512	Unilever N.V.		16,556
			223,699
	Health Care Equipment & Services — 3.8%
979	Cardinal Health, Inc.		31,553
922	Covidien plc.		44,155
1,746	Medtronic, Inc.		76,793
1,359	UnitedHealth Group, Inc.		41,426
			193,927
	Household & Personal Products — 2.1%
646	Kimberly-Clark Corp.		41,182
1,097	Procter & Gamble Co.		66,512
			107,694
	Insurance — 4.7%
1,261	ACE Ltd.		63,569
1,065	Chubb Corp.		52,377
998	Marsh & McLennan Cos., Inc.		22,031
2,059	MetLife, Inc.		72,772
549	Travelers Cos., Inc.		27,348
			238,097
	Materials — 3.3%
693	Agrium U.S., Inc.		42,595
1,107	Barrick Gold Corp.		43,601
540	BHP Billiton Ltd. ADR		41,361
1,571	International Paper Co.		42,061
			169,618
	Media — 2.7%
3,038	Comcast Corp. Class A		51,215
739	Comcast Corp. Special Class A		11,832
1,334	Time Warner, Inc.		38,860
1,029	Walt Disney Co.		33,172
			135,079
	Pharmaceuticals, Biotechnology & Life Sciences — 11.2%
1,254	AstraZeneca plc ADR		58,849
2,338	Bristol-Myers Squibb Co.		59,024
2,720	Eli Lilly & Co.		97,142
1,288	Johnson & Johnson		82,954
3,740	Merck & Co., Inc.		136,642
5,675	Pfizer, Inc.		103,220
516	Teva Pharmaceutical Industries Ltd. ADR		29,006
			566,837
	Retailing — 3.0%
1,315	Gap, Inc.		27,558
1,420	Limited Brands, Inc.		27,313
1,404	Lowe’s Co., Inc.		32,842
2,620	Staples, Inc.		64,428
			152,141
	Semiconductors & Semiconductor Equipment — 1.3%
2,423	Texas Instruments, Inc.		63,138

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

75

Hartford Dividend and Growth HLS Fund

Schedule of Investments — (continued)

December 31, 2009

(000’s Omitted)

	Market
Shares or Principal Amount	Value Ì
COMMON STOCKS — (continued)