Hartford Series Fund N-CSR Certified annual shareholder report (management investment company)

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, 2007

Date of reporting period: January 1, 2007 — December 31, 2007

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.

TABLE OF CONTENTS

	Item 1. Reports to Stockholders
	Item 2. Code of Ethics
	Item 3. Audit Committee Financial Expert
	Item 4. Principal Accountant Fees and Services
	Item 5. Audit Committee of Listed Registrants
	Item 6. Schedule of Investments
	Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
	Item 8. Portfolio Managers of Closed-End Management Investment Companies
	Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
	Item 10. Submission of Matters to a Vote of Security Holders
	Item 11. Controls and Procedures
	Item 12. Exhibits
SIGNATURES
Code of Ethics
Audit Committee Pre-Approval Policies & Procedures
Certifications
Section 906 Certifications

Item 1. Reports to Stockholders.

Annual Report December 31, 2007
­ ­                                                     ­ ­

• Manager Discussions

• Financials

Hartford Series Fund, Inc.

Hartford HLS Series Fund II, Inc.

Table of Contents

Manager Discussions (Unaudited)	1
Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc. Financial Statements:
Schedule of Investments as of December 31, 2007:
Hartford Advisers HLS Fund	66
Hartford Capital Appreciation HLS Fund	72
Hartford Disciplined Equity HLS Fund	78
Hartford Dividend and Growth HLS Fund	80
Hartford Equity Income HLS Fund	82
Hartford Fundamental Growth HLS Fund (formerly known as Hartford Focus HLS Fund)	83
Hartford Global Advisers HLS Fund	85
Hartford Global Communications HLS Fund	92
Hartford Global Financial Services HLS Fund	94
Hartford Global Growth HLS Fund (formerly known as Hartford Global Leaders HLS Fund)	96
Hartford Global Health HLS Fund	98
Hartford Global Technology HLS Fund	100
Hartford Growth HLS Fund	102
Hartford Growth Opportunities HLS Fund	104
Hartford High Yield HLS Fund	106
Hartford Index HLS Fund	112
Hartford International Growth HLS Fund (formerly known as Hartford International Capital Appreciation HLS Fund)	118
Hartford International Opportunities HLS Fund	120
Hartford International Small Company HLS Fund	123
Hartford LargeCap Growth HLS Fund (formerly known as Hartford Blue Chip Stock HLS Fund)	126
Hartford MidCap HLS Fund	129
Hartford MidCap Growth HLS Fund	132
Hartford MidCap Value HLS Fund	135
Hartford Money Market HLS Fund	137
Hartford Mortgage Securities HLS Fund	139
Hartford Small Company HLS Fund	142
Hartford SmallCap Growth HLS Fund	146
Hartford SmallCap Value HLS Fund	151
Hartford Stock HLS Fund	156
Hartford Total Return Bond HLS Fund	158
Hartford U.S. Government Securities HLS Fund	169
Hartford Value HLS Fund	173
Hartford Value Opportunities HLS Fund	175
Statements of Assets and Liabilities as of December 31, 2007	178
Statements of Operations for the Year Ended December 31, 2007	184
Statements of Changes in Net Assets for the Years Ended December 31, 2007 and December 31, 2006	190
Notes to Financial Statements	201
Financial Highlights	219
Report of Independent Registered Public Accounting Firm	228
Directors and Officers (Unaudited)	229
Shareholder Meeting Results (Unaudited)	231
How to Obtain a Copy of the Fund’s Proxy Voting Policies and Proxy Voting Records (Unaudited)	231
Expense Example (Unaudited)	232
Approval of Investment Management, Investment Advisory and Amended Investment Sub-Advisory Agreements (Unaudited)	235

This report is prepared for the general information of contract owners and is not an offer of contracts. 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 sub-advisers and portfolio management team.

Hartford Advisers HLS Fund inception 3/31/1983

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 12/31/97 - - 12/31/07

Growth of $10,000 investment

Lehman Brothers Government/Credit Bond Index is a broad based 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.

Investment objective return — Seeks maximum long-term total return.

Average Annual Returns^2,3 (as of 12/31/07)

	1 Year			5 Year			10 Year
Advisers IA		6.64	%		9.25	%		5.76	%
Advisers IB		6.37	%		8.98	%		5.52	%
Lehman Brothers Government/Credit Bond Index		7.23	%		4.43	%		6.01	%
S&P 500 Index		5.49	%		12.83	%		5.91	%

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 April 1, 1998. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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	Vice President	Vice President

How did the Fund perform?

The Class IA shares of Hartford Advisers HLS Fund returned 6.64% for the twelve-month period ended December 31, 2007, versus the returns of 5.49% for the S&P 500 Index and 7.23% for the Lehman Brothers Government/Credit Bond Index. The Fund underperformed the 6.78% 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 and the remainder in bonds, cash, and cash equivalents.

Why did the Fund perform this way?

Financial markets were volatile during the year as strength in the U.S. equity markets during the first half of the period was followed by weakness in the latter part of the year due to subprime and credit worries. Bond markets experienced a flight-to-liquidity during the year as subprime weakness spread. As measured by the S&P 500 Index, equity markets were up 5.49% while the bond market, as measured by the Lehman Brothers Government/Credit Bond Index, increased 7.23%.

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 of the Fund outperformed its benchmark while the fixed income portion lagged its benchmark slightly. Allocation detracted slightly from the Fund’s benchmark-relative (i.e. performance of the Fund as measured against the benchmark) performance due to the Fund’s consistent overweight (i.e. the Fund’s sector position was greater than the benchmark position) to equities whose returns trailed those of fixed income.

The Equity portion of the Fund outperformed its benchmark during the period due to strong stock selection. Positive selection within the Information Technology, Materials and Consumer Staples sectors contributed most while weak selection within the Consumer

1

Discretionary, Health Care and Telecommunication Services sectors detracted from relative returns.

Stocks that contributed the most to relative and absolute (i.e. total return) returns included Google (Information Technology), Occidental Petroleum (Energy), and Apple (Information Technology). Shares of internet search company Google rose during the latter part of the period as it continued to gain market share as the leading internet search company. Shares of Occidental Petroleum rose sharply when the company reported better-than-expected earnings driven by higher oil prices. Apple reported sharply higher profits due to strong sales of Macintosh computers and iPod products. The shares also benefited from enthusiasm over the June launch of the iPhone. We held our positions in these stocks at the end of the period.

Significant detractors from the Fund’s benchmark-relative returns included Financials stocks Countrywide Financial, Capital One and E*Trade. The collapse of the mortgage market caused shares of mortgage originator Countrywide to suffer as its asset quality deteriorated and the market worried that it was facing a liquidity crisis. Diversified financial company Capital One declined with investor concerns about the firm’s exposure to consumer credit. Broker and banking services provider E*Trade fell on credit concerns regarding the firm’s mortgage and home equity portfolios. In Consumer Discretionary, the Fund’s holdings in Circuit City and Comcast hurt relative and absolute performance.

The fixed income portion of the Fund trailed its benchmark during the twelve-month period due mainly to the Fund’s allocation to out-of-benchmark positions in mortgages. Elevated volatility and a lack of market liquidity led to forced selling of even higher quality assets, which negatively impacted the residential mortgage-backed securities (“MBS”) and commercial mortgage-backed securities (“CMBS”) sectors. The need by some leveraged investors, e.g. hedge funds and structured investment vehicles (“SIVs”), to take some risk off their balance sheets also contributed to forced selling and price declines. However, the Fund was able avoid the subprime catastrophe and was successful in navigating the multi-billion dollar downgrades of mortgage-related securities. On the positive side, strong selection within the investment grade credit sector was additive to relative returns.

What is the outlook?

We believe economic growth will continue to decelerate in 2008 and that the probability of a recession has increased with tighter credit conditions. However fixed income markets have already priced in this outcome. We expect the Federal Open Market Committee (the “Fed”) will continue to ease monetary policy consistent with Treasury market valuations and we therefore target a neutral duration (i.e. sensitivity to changes in interest rates) and yield curve posture. Corporate and mortgage sectors should benefit as the Fed action brings some stability back to the financial markets. Additionally, attractive valuations in the corporate and mortgage sector lead us to continue to underweight (i.e. the Fund’s sector position was less than the benchmark position) the government sector and overweight these spread sectors (i.e. those that offer yield premiums over Treasuries) relative to the benchmark.

The equity portion of Hartford Advisers HLS Fund is managed with an opportunistic large cap core investment approach. We look for companies that exhibit some or all of the following characteristics: industry leadership, strong balance sheets, solid management teams, high return on equity, accelerating earnings, and/or attractive valuation with a catalyst. Sector weights are the result of our bottom-up (i.e. stock by stock fundamental research) stock selection process. Based on individual stock decisions, the equity portion of the Fund ended the year overweight in Information Technology, Health Care, and Financials and underweight in the Utilities, Consumer Staples and Energy sectors.

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, 2007, the Fund’s equity exposure was at 65% compared to 60% in its benchmark and at the upper end of the 50-70% range, as we expect equities to outperform bonds and cash.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		3.4	%
Capital Goods		0.2
Consumer Cyclical		3.8
Consumer Staples		4.6
Energy		6.4
Finance		27.7
General Obligations		0.3
Health Care		10.2
Services		7.0
Technology		20.2
Transportation		0.3
U.S. Government Agencies		4.5
U.S. Government Securities		7.8
Utilities		1.9
Short-Term Investments		10.6
Other Assets and Liabilities		(8.9	)
Total		100.0	%

Distribution by Category

as of December 31, 2007

	Percentage of
Category	Net Assets
Asset & Commercial Mortgage Backed Securities		5.2	%
Common Stocks		65.0
Corporate Bonds: Investment Grades		15.0
Corporate Bonds: Non-Investment Grades		0.1
Municipal Bonds		0.3
Preferred Stocks		0.4
U.S. Government Agencies		4.5
U.S. Government Securities		7.8
Short-Term Investments		10.6
Other Assets and Liabilities		(8.9	)
Total		100.0	%

2

Hartford Capital Appreciation HLS Fund inception 4/2/1984

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 12/31/97 - - 12/31/07
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.

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 objective — Seeks growth of capital.

Average Annual Returns^2,3 (as of 12/31/07)

	1 Year			5 Year			10 Year
Capital Appreciation IA		16.83	%		21.75	%		13.64	%
Capital Appreciation IB		16.53	%		21.45	%		13.39	%
Russell 3000 Index		5.14	%		13.63	%		6.21	%

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 April 1, 1998. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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
Team 1	Team 2
Saul J. Pannell, CFA	Mario E. Abularach, CFA	Peter I. Higgins, CFA	James N. Mordy
Senior Vice President, Partner	Vice President, Equity Research Analyst	Vice President	Senior Vice President, Partner
Frank D. Catrickes, CFA	Nicolas M. Choumenkovitch	Jeffery L. Kripke	David W. Palmer, CFA
Senior Vice President, Partner	Vice President	Vice President	Vice President
	David R. Fassnacht, CFA	Paul E. Marrkand, CFA
	Senior Vice President, Partner	Vice President

How did the Fund perform?

The Class IA shares of Hartford Capital Appreciation HLS Fund returned 16.83% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the Russell 3000 Index, which returned 5.14% for the same period. The Fund also outperformed the 6.22% 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?

As measured by the Russell 3000 Index, equity markets ended broadly higher for the fifth year in a row, despite significant volatility during the latter part of the year. Every sector in the benchmark but two posted positive returns for the period, led by Energy (+31%), Materials (+26%), Utilities (+18%), and Information Technology (+15%). The laggards in this environment were Financials (-18%), which fell on credit and liquidity concerns across the sector, and Consumer Discretionary (-12%), which traded lower largely on deterioration in the housing market and concerns about potential spillover effects on the consumer.

Relative (i.e. performance of the Fund as measured against the benchmark) and absolute (i.e. total return) performance was robust. Strong stock selection drove the Fund’s relative outperformance, while allocation among sectors, a fallout of the bottom-up (i.e. stock by stock fundamental research) stock selection process, also produced positive results, due largely to an above-benchmark allocation to surging Materials stocks and a below-benchmark allocation to the underperforming Financials sector. Relative performance was particularly strong in the Materials, Financials, and Industrials sectors. Materials stocks made up three of the top four relative and absolute contributors during the year: Vale (also known as Companhia Vale do Rio Doce), Rio Tinto, and Freeport-McMoRan Copper all rose on continued strong demand for commodities including iron ore and copper. Another top contributor to performance was a position in search giant Google, which reported higher-than-expected earnings driven by strength in its core search-advertising business. German exchange Deutsche Boerse led the way among Financials stocks, while relative performance in Industrials benefited from positions in agricultural equipment maker Deere and Chinese solar component manufacturer Suntech Power.

3

Security selection was weakest in the Consumer Discretionary, Health Care, and Information Technology sectors. Our holdings in communications equipment company Nortel, Japanese auto maker Toyota, and financial services firm Capital One Financial were among the top detractors from relative results. Nortel is having difficulty meeting margin targets, putting pressure on its share price. Toyota saw its shares impacted by concern about weakening auto demand in the face of U.S. housing loan problems and the strengthening of the yen. Shares of Capital One declined with investor concerns about the firm’s exposure to consumer credit and mortgage markets. In addition, the Fund’s relative performance was hurt by its underweight (i.e. the Fund’s sector position was less than the benchmark position) position in ExxonMobil, whose shares rose significantly during the year. Absolute performance was negatively impacted by a position in Citigroup, which saw its shares fall in conjunction with concerns related to the firm’s exposure to subprime mortgages and corresponding write-downs.

What is the outlook?

We continue to focus our efforts on picking stocks one-at-a-time based on detailed fundamental research. These bottom-up investment decisions have resulted in a sizeable absolute weight in the Information Technology sector. Top positions include Google and hardware company IBM. Financials represents our second largest sector weighting, with positions in insurer ACE and asset manager Julius Baer our largest positions. Our exposure to the Materials sector represents our greatest overweight (i.e. the Fund’s sector position was greater than the benchmark position) relative to the benchmark, with positions in mining, steel, and chemicals stocks. Our lowest exposures are in the Utilities and Telecommunication Services sectors, while Consumer Staples represents our largest underweight relative to the Russell 3000 Index.

During the twelve-month period ended December 31, 2007, James H. Averill, a portfolio manager of the Fund, retired from Wellington Management Company and withdrew from active involvement in the Fund effective April 1, 2007. As of December 31, 2007, Team 1 (Saul Pannell and Frank Catrickes) managed approximately 86% of the Fund’s assets.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials	16.8	%
Capital Goods	4.7
Consumer Cyclical	6.7
Consumer Staples	1.5
Energy	10.9
Finance	19.2
Health Care	8.5
Services	2.9
Technology	21.4
Transportation	0.9
Utilities	1.5
Short-Term Investments	12.7
Other Assets and Liabilities	(7.7	)
Total	100.0	%

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Australia	0.6	%
Austria	0.8
Belgium	0.3
Bermuda	0.0
Brazil	4.3
Canada	2.8
China	1.8
Egypt	0.7
Finland	0.1
France	0.7
Germany	1.1
Hong Kong	0.4
India	0.6
Ireland	0.2
Israel	0.8
Italy	0.1
Japan	0.8
Luxembourg	0.8
Mexico	0.1
Netherlands	0.1
Norway	0.1
Papua New Guinea	0.0
Russia	1.1
Singapore	0.0
South Africa	0.7
Spain	0.6
Sweden	0.2
Switzerland	2.8
Taiwan	0.8
Turkey	0.8
United Kingdom	4.4
United States	66.4
Short-Term Investments	12.7
Other Assets and Liabilities	(7.7	)
Total	100.0	%

4

Hartford Disciplined Equity HLS Fund inception 5/29/1998

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 5/29/98 - - 12/31/07
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 objective — Seeks growth of capital.

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			Since Inception
Disciplined Equity IA		8.34	%		12.64	%		5.81	%*
Disciplined Equity IB		8.07	%		12.36	%		5.57	%*
S&P 500 Index		5.49	%		12.83	%		4.81	%*

* Return is from 05/31/98

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)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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	Mammem Chally, CFA
Senior Vice President, Partner	Vice President

How did the Fund perform?

The Class IA shares of Hartford Disciplined Equity HLS Fund returned 8.34% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the S&P 500 Index, which returned 5.49% for the same period. The Fund outperformed the 5.78% return of the average fund in the Lipper Large 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?

U.S. equity markets advanced for the first half of the period, then pulled back in the latter part of the year due to sub-prime and credit worries. During the period, mid cap stocks outperformed both large and small cap stocks. The S&P MidCap 400 Index returned 7.98% compared to the S&P 500 large cap index return of 5.49% and the Russell 2000 small cap index return of -1.57%. U.S. growth stocks outpaced their value peers, as the Russell 1000 Growth Index returned +11.8% versus a Russell 1000 Value Index return of -0.2%. Within the S&P 500 Index benchmark, Energy (+34%), Materials (+22%), and Utilities (+19%) led performance while Financials (-19%) and Consumer Discretionary (-13%) lagged the broader market.

The Fund’s relative (i.e. performance of the Fund as measured against the benchmark) performance reflected strong stock selection in Financials, Materials and Utilities but unfavorable stock selection in Consumer Staples and Information Technology. In addition, the Fund’s performance was helped by an underweight (i.e. the Fund’s sector position was less than the benchmark position) to Financials and Consumer Discretionary stocks, which lagged the market.

The Fund’s top three contributors to benchmark-relative performance were Occidental Petroleum (Energy), Parker Hannifin (Industrials) and McKesson (Health Care). In addition, consumer electronics company Apple was a strong contributor on an absolute (i.e. total return) basis. Occidental Petroleum continued to benefit from record high oil prices due to inflationary pressures on the energy front and a bullish consensus outlook on oil and refining margins. Diversified industrials company Parker Hannifin’s shares rose on continued demand for its products in its key market segments (aerospace and global climate). Shares of health care services company McKesson benefited from a favorable generic drug pricing cycle and strong cash flow. Apple’s shares soared following enthusiasm over the company’s launch of the iPhone and strong sales of its Macintosh computers. We held positions in all of these stocks at the end of the period.

Top relative detractors during the period were Kohl’s (Consumer Discretionary), Forest Labs (Health Care) and LAM Research (Information Technology). In addition, Financials stocks Citigroup and Bank of America were significant detractors on an absolute basis. Shares of Kohl’s, a specialty department store, declined with

5

disappointing same-store-sales trends and investor concerns about overall consumer spending. Pharmaceutical company Forest Labs reported disappointing Phase III results for its stroke drug Desmoteplase. Semiconductor manufacturing equipment maker LAM Research’s shares declined on worries about capital expenditures at semiconductor manufacturers. Citigroup and Bank of America underperformed due to the disruptions in the capital markets and concerns about balance sheet exposures. We eliminated our position in Citigroup and held on to our positions in the other four stocks at the end of the period.

What is the outlook?

We believe the U.S. economy has definitely lost momentum. Economic data on balance is worsening, while the housing market conditions have deteriorated further. We will continue to invest in sectors opportunistically and on a stock-by-stock basis reflecting our bottom-up (i.e. stock by stock fundamental research) process.

We ended the period most overweight (i.e. the Fund’s sector position was greater than the benchmark position) Health Care and Utilities and most underweight Industrials, Consumer Discretionary and Energy stocks.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials	3.4	%
Capital Goods	3.9
Consumer Cyclical	8.8
Consumer Staples	3.8
Energy	11.5
Finance	22.3
Health Care	12.1
Services	5.0
Technology	21.6
Transportation	0.3
Utilities	5.1
Short-Term Investments	8.8
Other Assets and Liabilities	(6.6	)
Total	100.0	%

6

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

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 12/31/97 - 12/31/07

Growth of $10,000 investment

Russell 1000 Value Index measures 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.

Investment objective — Seeks a high level of current income consistent with growth of capital.

Average Annual Returns^2,3 (as of 12/31/07)

	1 Year			5 Year			10 Year
Dividend and Growth IA		8.26	%		14.50	%		8.22	%
Dividend and Growth IB		7.98	%		14.21	%		7.98	%
Russell 1000 Value Index		-0.17	%		14.63	%		7.68	%
S&P 500 Index		5.49	%		12.83	%		5.91	%

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 April 1, 1998. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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 Hartford Dividend and Growth HLS Fund returned 8.26% for the twelve-month period ended December 31, 2007, versus the returns of 5.49% for the S&P 500 Index and -0.17% for the Russell 1000 Value Index. The Fund also outperformed the 2.69% 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?

Equity markets faltered after a strong start to the year as concerns over subprime mortgages and rising energy prices weighed heavily on the U.S. consumer. Despite the volatility over the last six-months, broad indices still managed to squeeze out mostly positive returns. Large cap equities (+5.5%) outpaced small cap stocks (-1.6%) but underperformed mid caps (+8.0%) as represented by the S&P 500 Index, Russell 2000 Index, and S&P MidCap 400 Index, respectively. Reversing the trend from previous years, growth-oriented stocks (+11.8%) dominated value-oriented stocks (-0.2%). During the twelve-month period, Energy (+33%), Materials (+22%) and Utilities (+19%) were clear leaders within the broad market, as represented by the S&P 500 Index, while Financials (-19%) and Consumer Discretionary (-13%) posted negative returns.

The Fund’s outperformance relative (i.e. performance of the Fund as measured against the benchmark) to the S&P 500 Index was due primarily to sector allocation. Our overweight (i.e. the Fund’s sector position was greater than the benchmark position) allocation to outperforming Energy and Materials and underweight (i.e. the Fund’s sector position was less than the benchmark position) to lagging Financials and Consumer Discretionary stocks contributed positively to benchmark-relative performance. The Fund’s underweight to Information Technology was a detractor. Stock selection also helped returns. Strong selection in Consumer Discretionary, Consumer Staples and Utilities more than offset weak security selection in the Financials and Information Technology sectors.

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The Fund’s top three contributors to relative performance over the period were Deere (Industrials), Agrium (Materials), and Chevron (Energy). Deere’s shares continue to climb as the company realizes growing agriculture equipment sales. Shares of agricultural producer and retailer Agrium rose sharply after its announced acquisition of UAP Holdings, a distributor of crop production supplies. Chevron’s shares continue to benefit from higher energy prices. Results were also boosted by a gain from the sale of its holdings in power wholesaler Dynegy. At the end of the period, we held our positions in these three stocks. The Fund also benefited from its position in AT&T.

Detractors from relative performance included MBIA (Financials), UBS (Financials), and Comcast (Consumer Discretionary). After strong performance in 2006, bond insurer MBIA pulled back in price, in part on concerns that rising default rates for sub-prime mortgages would negatively impact home equity asset-backed securities that it has insured. Diversified financials firm UBS was hurt by the credit and liquidity crises that impacted markets during the third and fourth quarters. Comcast, the largest cable TV provider in the U.S., continues to experience increased competition from Verizon, AT&T and Satellite TV providers. Shares fell as the company reported that it lost more subscribers than expected. Fund results relative to the benchmark were also negatively impacted by not owning Apple, which was a strong performer during the year as the company reported sharply higher profits due to strong sales of Macintosh computers and iPod products and the introduction of the iPhone. On an absolute (i.e. total return) basis, the Fund’s position in Citigroup hurt performance as the company experienced significant losses on its mortgage portfolio. We held our positions in all of these stocks at the end of the period.

What is the outlook?

Our discipline is focused on identifying industries where supply/demand conditions remain favorable. We remain overweight Energy, as global demand remains strong and supply is constrained. Also, we continue to see favorable supply/demand characteristics in the agriculture markets. We have further increased our underweight to Information Technology by eliminating hardware companies EMC and Motorola and trimming Microsoft. We have increased our exposure to Financials but still remain underweight the sector.

Based on these views and our bottom-up (i.e. stock by stock fundamental research) stock selection, at the end of the period, relative to the S&P 500 Index, the Fund was most overweight Energy, Materials, and Utilities and most underweight Information Technology, Financials, and Consumer Discretionary.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		7.9	%
Capital Goods		4.3
Consumer Cyclical		7.9
Consumer Staples		6.3
Energy		18.4
Finance		14.5
Health Care		11.3
Services		6.7
Technology		14.9
Transportation		1.0
Utilities		5.7
Short-Term Investments		3.1
Other Assets and Liabilities		(2.0	)
Total		100.0	%

8

Hartford Equity Income HLS Fund inception 10/31/2003

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 10/31/03 - 12/31/07

Growth of $10,000 investment

Russell 1000 Value Index measures 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 objective – Seeks a high level of current income consistent with growth of capital.

Average Annual Returns (as of 12/31/07)

	1 Year			Since Inception
Equity Income IA		6.94	%		11.85	%
Equity Income IB		6.68	%		11.57	%
Russell 1000 Value Index		-0.17	%		12.56	%

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.

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

How did the Fund perform?

The Class IA shares of Hartford Equity Income HLS Fund returned 6.94% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the Russell 1000 Value Index, which returned -0.17% for the same period. The Fund also outperformed the 2.69% return of the average fund in the Lipper Equity Income Funds VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

U.S. equities weakened during the period in part due to the liquidity crunch in late summer, heightened fears of a U.S. recession and persistently high (and increasing) energy prices. Within the Fund’s Russell 1000 Value Index benchmark, seven out of ten sectors posted positive returns even though the overall index posted a negative return. Energy, Utilities and Materials posted the largest returns, while Financials and Consumer Discretionary lagged. Mid cap stocks outperformed both large and small cap stocks. The S&P MidCap 400 Index returned 7.98% compared to the S&P 500 large cap index return of 5.49% and the Russell 2000 small cap index return of -1.57%.

While the Fund’s investment strategy is based on bottom-up (i.e. stock by stock fundamental research) fundamental research on each company, the primary driver of the Fund’s outperformance relative (i.e. performance of the Fund as measured against the benchmark) to the benchmark were the Fund’s underweight (i.e. the Fund’s sector position was less than the benchmark position) positions in Financials and Consumer Discretionary and overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions in Utilities, Consumer Staples, Industrials and Materials. In addition, stock selection also contributed significantly to the Fund’s relative performance. Stock selection was strongest within Financials and Information Technology, but was slightly offset by weaker stock selection within Energy, Consumer Staples and Materials.

The top three relative contributors to performance were Energy stocks ConocoPhillips and Chevron and Nokia (Information Technology). In addition, Exxon Mobil (Energy), AT&T (Telecommunication Services) and Deere (Industrials) were among the top contributors on an absolute (i.e. total return) basis. ConocoPhillips, Chevron and Exxon Mobil continued to benefit from the rally in crude oil prices and the widening in U.S. refining margins over the last year. Cell phone designer and manufacturer Nokia’s shares rose following the introduction of several successful new handset models and an aggressive cost control program that has helped the company’s bottom-line. AT&T’s shares continue to

9

benefit from cost synergies following its merger with BellSouth and also from firmer pricing. Agricultural-equipment maker Deere’s stock price benefited from stronger demand and rising grain prices. We held positions in all of these stocks at the end of the period.

The top three relative detractors were UBS (Financials), Host Hotels & Resort (Financials) and Pitney Bowes (Industrials). Not owning Occidental Petroleum (Energy), a top performing integrated oil company, also detracted from benchmark relative returns. Bank of America and Citigroup, both Financials stocks, were also significant detractors to absolute performance. Shares of Financials stocks UBS, Bank of America and Citigroup all underperformed due to the disruptions in the capital markets and concerns about balance sheet exposures. UBS and Citigroup took significant write-downs in mortgage-related securities. Host Hotels & Resort’s stock price declined on investor fears about the likelihood of a U.S. recession and a more cautious view of commercial real estate in the wake of the recent liquidity crunch. Mail and document management company Pitney Bowes’ shares declined due to the U.S. economic slowdown which led to lower sales of its products. We eliminated our positions in Citigroup and Pitney Bowes during the period.

What is the outlook?

Global credit conditions have deteriorated sharply. U.S. GDP growth is now expected to decelerate in the upcoming year as tightening credit conditions may deepen the housing slump. Consequently, we believe U.S. consumer spending will weaken. The outlook for global growth will moderate with Asia and Emerging Markets providing strong support. Domestic corporate profits are stressed but largely offset by strong international gains. The Federal Open Market Committee (the “Fed”) has responded to the liquidity crisis by cutting interest rates and we believe they will react to any further deterioration.

At the end of the period, relative to the Russell 1000 Value Index, the Fund was most underweight Consumer Discretionary, Financials and Industrials and most overweight Utilities, Consumer Staples, Materials and Telecommunication Services.

During the twelve-month period ended December 31, 2007, W. Michael Reckmeyer, III, CFA, Karen H. Grimes, CFA, and Ian R. Link, CFA were added as portfolio managers of the Fund, effective October 1, 2007.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		7.4	%
Capital Goods		2.7
Consumer Cyclical		4.3
Consumer Staples		8.0
Energy		17.4
Finance		23.0
Health Care		7.4
Services		1.3
Technology		15.3
Utilities		11.7
Short-Term Investments		1.2
Other Assets and Liabilities		0.3
Total		100.0	%

10

Hartford Fundamental Growth HLS Fund inception 4/30/2001

(formerly Hartford Focus HLS Fund)
(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 4/30/01 - 12/31/07

Growth of $10,000 investment

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

Investment objective – Seeks long-term capital appreciation.

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			Since Inception
Fundamental Growth IA		15.12	%		12.95	%		5.62	%
Fundamental Growth IB		14.83	%		12.66	%		5.37	%
Russell 1000 Growth Index		11.81	%		12.11	%		1.99	%
S&P500 Index		5.49	%		12.83	%		4.27	%

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)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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 Hartford Fundamental Growth HLS Fund returned 15.12% for the twelve-month period ended December 31, 2007, versus the returns of 5.49% for the S&P 500 Index and 11.81% for the Russell 1000 Growth Index. The Fund also outperformed the 12.78% 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?

Equity markets posted strong returns during the period despite the volatility that emerged in the latter part of the year due to concerns associated with the U.S. subprime mortgage market and slowing U.S. growth. Investors began to favor growth over value, as measured by the Russell 1000 Growth Index which returned 11.81% and was well ahead of the -0.17% return of the Russell 1000 Value Index during the period. Large stocks, as measured by the Russell 1000 Index, outpaced smaller stocks, represented by the Russell 2000 Index, 5.77% to - -1.57%. Seven out of the ten sectors in the Fund’s benchmark rose; led by Materials (+39%), Energy (+31%), and Utilities (+25%). The laggards in this environment were the Consumer Discretionary (-11%), Telecommunication Services (-3%), and Financials (-2%) sectors.

The Fund outperformed its benchmark primarily due to security selection. Strong stock selection in the Information Technology, Materials, and Consumer Discretionary sectors more than offset weaker selection in the Health Care, Industrials, and Financials sectors.

The Fund’s top contributors to relative (i.e. performance of the Fund as measured against the benchmark) and absolute (i.e. total return) performance were Vale, also known as Companhia Vale do Rio Doce (Materials), Priceline.com (Consumer Discretionary), and Research In Motion (Information Technology). Shares of Brazilian mining company Vale continued to rise during the period, bolstered by solid iron ore fundamentals as strong Chinese demand sustained tight capacity and strong (spot) pricing. In addition, the company has been successfully integrating the assets and operations of the Inco

11

acquisition. Shares of on-line travel company Priceline.com benefited from strong non-U.S. gross travel bookings, which led to higher-than-expected quarterly earnings and upward full year guidance. Shares of consumer electronic device company Research In Motion moved higher with expectations of market share gains.

The Fund’s top detractors from both relative and absolute performance during the period were MBIA (Financials), NII Holdings (Telecommunication Services), and Kohl’s (Consumer Discretionary). Shares of financial guarantee insurance company MBIA fell with the declining market value of its insured credit derivatives portfolio and rising concerns about the stability of U.S. financial markets. We maintained our position in the stock. Wireless communications company NII Holdings added fewer subscribers than expected in the third quarter, hurt by stiff competition and hurricanes in Mexico. Specialty department store operator Kohl’s saw its shares decline with disappointing same-store-sales trends and investor concerns about overall consumer spending. We believe that new store growth and margin expansion opportunities could benefit the shares going forward and maintain a position in the stock. Also detracting from performance was Coach (Consumer Discretionary). The high-end retailer lowered forecasted earnings due to slowing consumer traffic.

What is the outlook?

On July 27, 2007, Hartford Focus HLS Fund changed its name to Hartford Fundamental Growth HLS Fund and Francis J. Boggan took over as portfolio manager. At that time, the Fund’s investment strategy was modified to invest in a more diversified portfolio of large-cap stocks with a focus on high quality growth companies. The Fund will generally hold between 50-80 names. As a result, the Russell 1000 Growth Index was added as an additional benchmark. Steven T. Irons, CFA and Peter I. Higgins, CFA are no longer involved in the management of the Fund.

At end of the period, the Fund’s bottom-up (i.e. stock by stock fundamental research) investment approach resulted in overweights (i.e. the Fund’s sector position was greater than the benchmark position) to the Telecommunication Services, Energy, and Materials sectors relative to its benchmark and underweights (i.e. the Fund’s sector position was less than the benchmark position) to the Consumer Staples and Health Care sectors.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		5.4	%
Capital Goods		4.5
Consumer Cyclical		13.3
Consumer Staples		3.4
Energy		11.5
Finance		12.6
Health Care		9.6
Services		3.9
Technology		33.0
Utilities		1.6
Short-Term Investments		3.2
Other Assets and Liabilities		(2.0	)
Total		100.0	%

12

Hartford Global Advisers HLS Fund inception 3/1/1995

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 12/31/97 - 12/31/07

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.

Lehman Brothers Global Aggregate Index USD Hedged provides a broad-based measure of the global investment-grade fixed income markets.

Investment objective — Seeks maximum long-term total rate of return.

Average Annual Returns^2,3 (as of 12/31/07)

	1 Year			5 Year			10 Year
Global Advisers IA		16.59	%		12.58	%		7.24	%
Global Advisers IB		16.30	%		12.30	%		6.99	%
Lehman Brothers Global Aggregate Index USD Hedged		5.32	%		4.50	%		5.87	%
MSCI World Growth Index		15.12	%		15.83	%		6.03	%

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 November 9, 1999. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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.

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.

Portfolio Managers

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

How did the Fund perform?

The Class IA shares of Hartford Global Advisers HLS Fund returned 16.59% for the twelve-month period ended December 31, 2007, versus the returns of 15.12% for the MSCI World Growth Index and 5.32% for the Lehman Brothers Global Aggregate Index USD Hedged. The Fund outperformed the 12.05% 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?

After a strong start, global equity markets struggled in the latter part of the year as a result of problems in the subprime mortgage market and the subsequent reduction in liquidity throughout the financial system. Within the MSCI World Growth Index, nine out of ten sectors had positive returns during the year, led by Materials, Energy, and Utilities, while Consumer Discretionary lagged. In the fixed income markets, amid a sharp drop in liquidity and concerns about slowing economic growth, many of the world’s major central banks infused capital into markets in an effort to combat spiking volatility and eroding investor confidence. U.S. Treasury yields closed the year materially lower and the U.S. yield curve steepened (i.e. short and long term interest rates moving farther apart) as markets priced in additional Federal Open Market Committee (the “Fed”) rate cuts. The Fund outpaced its benchmark due to strength in both the equity and fixed income areas. Asset allocation had a negligible impact during the year.

Significant outperformance on the equity side was driven by security selection, which was positive in eight of ten economic sectors. Stock selection was particularly strong in the Information Technology, Financials, and Industrials sectors; Fund results trailed those of the benchmark in Consumer Discretionary and Telecommunication Services. Sector allocation, a result of bottom-up (i.e. stock by stock fundamental research) stock selection, had a modest negative impact on relative (i.e. performance of the Fund as measured against the benchmark) returns, due largely to our underweight (i.e. the Fund’s sector position was less than the benchmark position) allocation to the Materials sector and overweight (i.e. the Fund’s sector position was greater than the benchmark position) to the Financials sector.

The leading contributors to relative and absolute (i.e. total return) equity performance during the year were Nintendo and Research in Motion (Information Technology), Suntech Holdings (Industrials), and Monsanto (Materials). Japanese video game developer Nintendo continues to experience positive sales trends for its gaming console the Wii as the product’s ease of use makes the addressable market larger than expected. Shares of consumer electronic device company Research in Motion moved higher as new product releases, strong consumer subscriber growth, and a growing international footprint drove market share gains. Shares of Suntech holdings, a Chinese-based solar energy company, rose sharply

13

after the company announced better-than-expected revenues and earnings and stated that its capacity expansion plans are well ahead of schedule. Shares of agricultural products company Monsanto rose as the company is benefiting from a strong agricultural cycle and a robust pipeline. We continued to hold positions in all four stocks at the end of the period.

Relative and absolute equity performance was hurt by our holdings in Comcast (Consumer Discretionary), Rakuten (Consumer Discretionary), and Orix (Financials). Shares of cable provider Comcast fell after reporting weak earnings due to increased competition from phone companies and satellite television providers. We eliminated our position. Japanese online retailer and brokerage firm Rakuten reported results that were below expectations due to margin pressure resulting from higher overhead costs. The brokerage and credit business segments also performed below expectations and we eliminated our position. Shares of the Japanese financial services company Orix fell due to disappointing earnings and its modest exposure to the U.S. subprime mortgage market. We sold our holding in the security.

The fixed income portion of the fund outperformed its benchmark during the period, driven by favorable performance among our credit and currency strategies and, to a lesser degree, by our country and duration (i.e. sensitivity to changes in interest rates) strategies. In contrast, yield curve strategies were a modest detractor. Strong performance across strategies, particularly in the second half of the year, was driven by a favorable top-down viewpoint that allowed us to effectively navigate a turbulent fixed income environment. Long positions in the Japanese yen benefited performance. With respect to our country strategy, we benefited from a more significant U.S. slowdown than that witnessed in either Canada or Australia. The economies in Australia (all year) and Canada (for much of the year) performed well relative to the U.S.; and as a result, our overweight U.S. positions versus these other countries helped. In credit, security selection was strong in the corporate sector and we had less exposure in financials. In particular, a lack of exposure in certain underperforming lower-quality financial names aided results and security selection among corporates, more broadly, was favorable.

Yield curve positioning hindered results as the portfolio was designed to take advantage of a steepening yield curve.

What is the outlook?

Our equity positioning is the result of bottom-up fundamental research. At year-end, the Fund’s largest overweight positions were Information Technology, Financials, and Telecommunication Services. We remain underweight the consumer broadly along with a below benchmark exposure to Health Care.

Slower growth in the developed countries starting with the U.S. is now clearly evident in Japan and Europe. Central banks in various global markets have started to cut interest rates or put expected hikes on hold. Our fixed income positioning is to target neutral-to-underweight aggregate portfolio duration, with a short duration bias outside the U.S. and the Eurozone. We own a diversified basket of emerging market currencies, along with an overweight to the Australian dollar and underweights in the New Zealand dollar, the British pound and the Canadian dollar. On the credit side, we will likely continue to add to our corporate credit position via attractively priced new issuance. We favor new investments in high quality corporates and we’ll avoid companies with elevated subprime consumer exposure and refinancing risk.

From an asset allocation standpoint, the Fund ended the year with a slight underweight to equities, and slight overweights to fixed income and cash.

During the twelve-month period ended December 31, 2007, Matthew D. Hudson, CFA assumed responsibility as lead portfolio manager, effective June 1, 2007.

Diversification by Country

as of December 31, 2007

	Percentage of
Country	Net Assets
Australia		0.7	%
Austria		0.3
Bermuda		0.8
Brazil		1.0
Canada		3.2
Chile		0.1
China		2.8
Denmark		0.8
Finland		1.1
France		5.2
Germany		7.4
Greece		1.6
Hong Kong		1.0
Ireland		1.3
Italy		0.1
Japan		3.2
Luxembourg		1.6
Mexico		1.0
Netherlands		1.2
Poland		0.1
Singapore		0.4
South Africa		0.1
South Korea		0.8
Spain		2.2
Sweden		0.1
Switzerland		3.6
Taiwan		0.7
United Kingdom		7.4
United States		50.0
Short-Term Investments		6.4
Other Assets and Liabilities		(6.2	)
Total		100.0	%

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		4.5	%
Capital Goods		3.0
Consumer Cyclical		5.0
Consumer Staples		3.3
Energy		5.4
Finance		22.4
Foreign Governments		8.1
Health Care		5.4
Services		2.7
Technology		23.1
Transportation		1.5
U.S. Government Agencies		9.5
U.S. Government Securities		1.4
Utilities		4.5
Short-Term Investments		6.4
Other Assets and Liabilities		(6.2	)
Total		100.0	%

Distribution by Sector

as of December 31, 2007

	Percentage of
Category	Net Assets
Asset & Commercial Mortgage Backed Securities		5.7	%
Common Stocks		60.2
Corporate Bonds: Investment Grades		23.0
U.S. Government Agencies		9.5
U.S. Government Securities		1.4
Short-Term Investments		6.4
Other Assets and Liabilities		(6.2	)
Total		100.0	%

14

Hartford Global Communications HLS Fund inception 12/27/2000

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 12/27/00 - 12/31/07

Growth of $10,000 investment

MSCI All Country World Telecommunication Services Index is a free float-adjusted market capitalization index which measures the performance of companies within the telecommunications sector across both developed and emerging market countries. The index is calculated to exclude companies and share classes which cannot be freely purchased by foreigners.

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 objective — Seeks long-term capital appreciation.

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			Since Inception
Global Comm IA		23.38	%		28.68	%		6.92	%
Global Comm IB		23.07	%		28.36	%		6.67	%
MSCI All Country World Telecommunication Services Index		28.43	%		20.13	%		4.56	%*
S&P 500 Index		5.49	%		12.83	%		3.30	%*

*Return is from 12/31/00

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)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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

Archana Basi, CFA	David Nincic, CFA
Vice President, Global Industry Analyst	Vice President, Global Industry Analyst

How did the Fund perform?

The Class IA shares of Hartford Global Communications HLS Fund returned 23.38% for the twelve-month period ended December 31, 2007, versus the returns of 28.43% MSCI All Country World Telecommunication Services Index, which returned 28.43% for the same period. The Fund outperformed the 18.10% return of the average fund in the Lipper Science & Technology VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Telecommunication Services stocks performed well during the period, outpacing the broader market as represented by the S&P 500 Index 5.49% and the MSCI World Index 9.57%.

The Fund lagged its benchmark primarily due to holdings in several equipment and cable companies. However, security selection was strong among wireless and integrated telecommunication stocks, and the Fund benefited from its overweight (i.e. the Fund’s sector position was greater than the benchmark position) to the Wireless industry. The Fund’s significant overweight to emerging markets also helped performance considerably.

Stocks that detracted most from relative (i.e. performance of the Fund as measured against the benchmark) and absolute (i.e. total return) performance included Nortel Networks, NII Holdings, Comcast, and Arris. Nortel Networks, a global supplier of networking solutions serving both service providers and enterprise customers, had flat revenues in the first part of 2007 and experienced delays in expected expense reductions, driving its share price down. NII Holdings (formerly Nextel International) is a U.S.-based wireless provider with

15

operations in Latin America. The company announced that it added fewer subscribers than expected citing stiff competition and hurricanes in Mexico. Comcast, the largest cable television operator in the U.S., struggled due to increased competition and a weak economy. Its stock price fell after the company pre-announced that it would miss fourth quarter operating and financial estimates. We eliminated the position. Arris manufactures broadband, cable telephony, and optical transmission equipment. Although their recent results had exceeded expectations, they recently disappointed investors on two fronts: first, they announced an earnings shortfall in the third quarter, and second, they made a large acquisition of C-COR which broadens their product offerings but is slightly dilutive to their margins.

Top contributors to relative and absolute performance during the period included Vimpel-Communications, Turkcell, Brasil Telecom, and Mobile Telesystems. Shares of Vimpel-Communications, a Russian wireless carrier, were bolstered by strong sales growth and sharply higher profits in its core Russian market, driven by subscriber gains and average revenue per user (ARPU) increases and the company’s plans to acquire Golden Telecom, a Russian provider of internet, voice, and data services. Turkcell, the leading Turkish mobile phone operator, posted a substantial rise in profits driven by strong subscriber gains, increased minutes of use, and improvements in its Ukraine operations. Our outlook remains positive for Turkcell due to its strong wireless growth opportunities, attractive relative valuation, and dividend yield. Brasil Telecom benefited from strong demand for cellular and data transmission services. In addition, shares have risen in anticipation of a merger with Telemar Norte Leste, which is expected to generate significant operating synergies. Mobile Telesystems, Russia’s largest mobile phone operator, posted strong third quarter profits driven by strong new subscriber gains and higher average revenue per user. Like Vimpel-Communications, Mobile TeleSystems benefited from increased penetration and minutes of use in Russia and the Confederation of Independent States (“CIS”).

What is the outlook?

The Fund’s investment process focuses on companies with solid business fundamentals but which consensus opinion has misperceived as being weak. Because of the uncertainty and volatility surrounding the Telecommunications sector, we believe that many such investing opportunities exist.

Using the approach described above, the Fund allocates its assets to selected areas or industries. Once these allocations are made, we envision low stock turnover as we monitor how well these allocations perform. The key positions that the Fund is now taking include wireless stocks outperforming wireline stocks and emerging market telecom stocks outperforming developed market telecom stocks.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Communications Equipment Manufacturing		6.1	%
Electrical Equipment Manufacturing — Component Other		3.2
Internet Providers & Web Search Portal		1.6
Other Telecommunications		37.6
Telecommunication Resellers		0.1
Wired Telecommunications Carriers		3.5
Wireless Communications Services		13.6
Wireless Telecommunications Carriers		32.2
Short-Term Investments		6.0
Other Assets and Liabilities		(3.9	)
Total		100.0	%

Diversification by Country

as of December 31, 2007

	Percentage of
Country	Net Assets
Brazil		6.6	%
Canada		3.1
Egypt		3.8
France		8.7
India		3.1
Indonesia		2.1
Israel		3.7
Japan		1.5
Luxembourg		6.1
Mexico		2.3
Morocco		0.0
Norway		6.3
Russia		13.8
South Africa		4.8
Spain		7.3
Taiwan		2.1
Turkey		4.6
United Kingdom		1.4
United States		16.6
Short-Term Investments		6.0
Other Assets and Liabilities		(3.9	)
Total		100.0	%

16

Hartford Global Financial Services HLS Fund inception 12/27/2000

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 12/27/00 - 12/31/07
Growth of $10,000 investment

MSCI Finance ex Real Estate Index is a cap-weighted index that measures the performance of financial stocks from around the world. This index excludes real estate.

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 objective — Seeks long-term capital appreciation.

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			Since Inception
Global Financial Services IA		-7.79	%		12.48	%		4.66	%
Global Financial Services IB		-8.02	%		12.20	%		4.41	%
MSCI Finance ex Real Estate Index		-7.98	%		15.64	%		5.37	%*
S&P 500 Index		5.49	%		12.83	%		3.30	%*

* Return is from 12/31/00

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)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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

Mark T. Lynch, CFA
Senior Vice President, Partner,
Global Industry Analyst

How did the Fund perform?

The Class IA shares of Hartford Global Financial Services HLS Fund returned -7.79% for the twelve-month period ended December 31, 2007, outperforming the Fund’s benchmark, the MSCI Finance ex Real Estate Index, which returned -7.98% for the same period. The Fund also outperformed the - -12.62% return of the average fund in the Lipper Financial Services 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 strong start, U.S. equity markets struggled in the latter part of the year as a result of problems in the subprime mortgage market and the subsequent reduction in liquidity throughout the financial system. Financial stocks were at the center of the turmoil as many financial institutions were left exposed to defaults, downgrades, and illiquidity.

The Fund’s relative (i.e. performance of the Fund as measured against the benchmark) performance was helped by strong security selection in Commercial Banks, Capital Markets and Insurance, more than offsetting weaker stock selection in Consumer Finance, Thrifts & Mortgage Finance and Diversified Financial Services.

Top contributors to relative and absolute (i.e. total return) performance were Julius Baer, Invesco, and Sterling Financial. Julius Baer, Switzerland’s largest independent money manager, rose on news of strong inflows and effective cost management, pushing margins higher. The company is reorganizing its asset management business and solid performance and execution should help perpetuate growth. Shares of Invesco, a global asset management company, gained after reporting improving investment performance and stable funds flows. The company has the potential for operating margin improvements as it focuses on cost efficiencies under a new centralized structure. During

17

the period we established a position in Sterling Financial, a Pennsylvania-based bank, following the discovery of fraud in its lumber finance unit, which caused them to eliminate the dividend and look for potential buyers. We were convinced that the remaining units were problem-free and that other banks would be interested in Sterling’s strong branch system in central Pennsylvania. PNC Financial appeared as a buyer and paid an attractive price.

Top detractors from relative and absolute performance included E*Trade, Capital One, and Discover. E*Trade is a retail and institutional trading and financial services company. Following the events in the subprime mortgage market, it became clear that the company had poor quality mortgages and securities on their books, which offset most of the value in the brokerage unit and caused the firm’s stock price to fall. We eliminated the position. Shares of Capital One, a diversified financial company providing credit card and banking services, declined with investor concerns about the firm’s exposure to consumer credit and mortgage markets. We maintain a position in the stock given its attractive valuation and our confidence in management to take steps to generate higher returns and create shareholder value. Discover is a credit card issuer and electronic payment services company. After its spin-off from Morgan Stanley, Discover debuted with an initial public offering (“IPO”) in July. However, concerns that a weakening economy would adversely affect credit costs put downward pressure on the stock.

What is the outlook?

The Financial sector has been under strain during 2007 as markets determine the most efficient way to work out the complications from the subprime mortgage problems. Further, the ultimate impact of actions taken by central banks around the globe to ameliorate credit market woes remains unknown, as well as the ultimate state of the U.S. economy and consumer. We continue to be selective in our stock picking in this environment.

The Fund looks for stocks with low P/Es (i.e. Price/Earnings ratio) and will opportunistically invest in special situations. At the end of the period, the Fund was overweight (i.e. the Fund’s sector position was greater than the benchmark position) the Capital Markets and Consumer Finance industries and underweight (i.e. the Fund’s sector position was less than the benchmark position) Commercial Banks and Insurance.

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Australia		1.9	%
Brazil		1.9
Canada		9.7
France		3.0
Germany		2.6
Italy		7.8
Liechtenstein		2.4
Netherlands		7.9
Norway		1.3
South Africa		1.6
Switzerland		13.5
United Kingdom		8.4
United States		35.3
Short-Term Investments		3.9
Other Assets and Liabilities		(1.2	)
Total		100.0	%

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Commercial Banking		12.0	%
Consumer Lending		1.6
Depository Credit Banking		23.0
Insurance Carriers		18.3
International Trade Financing (Foreign Banks)		18.1
Nondepository Credit Banking		4.7
Other Financial Investment Activities		7.4
Real Estate Credit (Mortgage Banking)		1.5
Securities, Commodities and Brokerage		10.7
Short-Term Investments		3.9
Other Assets and Liabilities		(1.2	)
Total		100.0	%

18

Hartford Global Growth HLS Fund inception 9/30/1998

(formerly Hartford Global Leaders HLS Fund)

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 9/30/98 - 12/31/07
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.

Investment objective — Seeks growth of capital.

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			Since Inception
Global Growth IA		25.05	%		18.80	%		12.31	%
Global Growth IB		24.74	%		18.50	%		12.06	%
MSCI World Growth Index		15.12	%		15.83	%		5.67	%

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)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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
Vice President	Senior Vice President, Partner	Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of Hartford Global Growth HLS Fund returned 25.05% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the MSCI World Growth Index, which returned 15.12% for the same period. The Fund also outperformed the 12.32% 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?

Global equity markets posted strong returns during the period despite the volatility that emerged in the latter part of the year due to concerns associated with the U.S. subprime mortgage market and slowing U.S. growth. Growth stocks outperformed value stocks as measured by the Russell 1000 Growth Index, which returned +11.81% versus the Russell 1000 Value Index return of -0.17% during the period. Non-U.S. markets (+11.63%) generally outperformed the U.S. (+5.49%) as measured by the MSCI EAFE Index and S&P 500 Index, respectively. Nine out of ten sectors in the MSCI World Growth Index rose. Materials (+41%), Energy (+38%), and Utilities (+27%) led returns, while Consumer Discretionary (-2%), Financials (+2%), and Health Care (+4%) trailed the broader market.

Security selection was positive in eight of the ten broad economic sectors and was the main driver of the Fund’s outperformance during the period. Stock selection was particularly strong in the Information Technology, Financials, and Industrials sectors, slightly offset by weaker selection in Consumer Discretionary and Telecommunication Services. Sector allocation decisions, a result of bottom-up (i.e. stock by stock fundamental research) stock selection, had a modest negative impact on relative (i.e. performance of the Fund as measured against the benchmark) returns. Detracting from returns was our underweight (i.e. the Fund’s sector position was less than the benchmark position) allocation to the Materials sector and overweight (i.e. the Fund’s sector position was greater than the benchmark position) to the Financials sector. This was partially offset by our underweight position in Consumer Discretionary stocks and an overweight in Energy stocks.

The leading contributors to both relative and absolute (i.e. total return) performance during the year were Nintendo (Information Technology), Research in Motion (Information Technology), and Monsanto (Materials). Japanese video game developer Nintendo continues to experience positive sales trends for its Wii gaming console. The addressable market is larger than expected due to the product’s ease of

19

use. Shares of consumer electronic device company Research in Motion moved higher with expectations of market share gains. Shares of Monsanto, a global provider of agricultural products, rose as the company is benefiting from a strong agricultural cycle. The company has a robust pipeline and strong outlook. We continued to hold positions in all three stocks at the end of the period.

Relative and absolute performance was hurt by our holdings in Comcast (Consumer Discretionary), Rakuten (Consumer Discretionary), and Orix (Financials). Shares of Comcast, a provider of cable, Internet, and phone services, fell after the company reported weak earnings due to increased competition from phone companies and satellite television providers. We eliminated the security. Japanese online retailer and brokerage firm Rakuten reported results that were below expectations, due to margin pressure resulting from higher overhead costs. The brokerage and credit business segments also performed below expectations. We eliminated our position. Shares of the Japanese financial services company Orix fell due to disappointing earnings and its modest exposure to the U.S. subprime mortgage market. We eliminated our holding in the security.

What is the outlook?

As a result of bottom-up fundamental research, the Fund’s largest overweight positions at the end of the period relative to its benchmark were Information Technology, Financials, and Telecommunication Services. Within the Technology sector we favor software & services companies Google and Nintendo, which are among our top holdings. The Fund’s largest underweight positions were the Consumer Discretionary and Staples sectors along with Health Care. Within Consumer Discretionary, we continue to underweight companies with large exposure to U.S. consumers as we believe that discretionary spending may slow further in the U.S.

During the twelve-month period ended December 31, 2007, James H. Averill, a portfolio manager of the Fund, retired from Wellington Management Company and withdrew from active involvement in the Fund effective June 1, 2007.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		6.5	%
Capital Goods		4.6
Consumer Cyclical		7.4
Consumer Staples		4.4
Energy		7.4
Finance		14.1
Health Care		7.0
Services		3.4
Technology		35.1
Transportation		2.4
Utilities		6.2
Short-Term Investments		13.5
Other Assets and Liabilities		(12.0	)
Total		100.0	%

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Austria		0.5	%
Bermuda		1.3
Brazil		1.5
Canada		4.4
China		4.5
Denmark		1.1
Finland		1.7
France		3.5
Germany		5.7
Greece		1.1
Hong Kong		1.7
Ireland		2.0
Japan		4.4
Luxembourg		1.8
Mexico		1.1
Netherlands		1.0
South Korea		0.8
Spain		3.6
Switzerland		5.8
Taiwan		1.1
United Kingdom		7.3
United States		42.6
Short-Term Investments		13.5
Other Assets and Liabilities		(12.0	)
Total		100.0	%

20

Hartford Global Health HLS Fund inception 5/1/2000

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 5/01/00 - - 12/31/07
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 GSSI Healthcare Index is an unmanaged index designed to measure the performance of companies in the health care sector. Issues in the index include providers of health care related services including long-term care and hospitalization facilities, health care management organizations and continuing care services.

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 objective — Seeks long-term capital appreciation.

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			Since Inception
Global Health IA		6.12	%		14.64	%		12.60	%
Global Health IB		5.86	%		14.35	%		12.34	%
S&P 500 Index		5.49	%		12.83	%		1.84	%*
S&P GSSI Healthcare Index		8.24	%		10.87	%		5.50	%*

* 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 results seen on this page due to differences in the expense charged to this share class.
(2)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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
Joseph H. Schwartz, CFA	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, Partner,	Vice President,	Vice President,
Global Industry Analyst	Global Industry Analyst	Global Industry Analyst	Global Industry Analyst	Global Industry Analyst

How did the Fund perform?

The Class IA shares of Hartford Global Health HLS Fund returned 6.12% for the twelve-month period ended December 31, 2007, underperforming the Fund’s benchmark, the S&P GSSI Healthcare Index, formerly the Goldman Sachs Health Care Index, which returned 8.24% for the same period. The Fund also underperformed the 10.89% return of the average fund in the Lipper 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?

The Health Care sector performed well during the period, outperforming the broader market, as represented by the S&P 500 Index which returned 5.49%. The Fund’s underperformance reflected a combination of weak stock selection in Pharmaceuticals and Health Care Equipment & Supplies, as well as an overweight (i.e. the Fund’s sector position was greater than the benchmark position) to the lagging Biotechnology sector. This was partially offset by strong stock selection within Biotechnology.

Eisai, UCB and Progenics Pharmaceutical were among the top relative (i.e. performance of the Fund as measured against the benchmark) detractors. Shares of Eisai, a Japanese pharmaceutical company, fell after the company reported that its Parkinson’s disease drug showed no difference from a placebo in one of its Phase 3 trials. Despite this delay, Eisai still has a number of late stage assets, including a treatment for thrombosis (blood clots) and we continue to hold the position. UCB was hurt by the European Union approval delay in Crohn’s indication for its drug, Cimzia. The news was not received well during this turbulent period in the markets, but we continue to believe in the positive long-term success of Cimzia and that the current market capitalization

21

significantly undervalues the company’s long-term pipeline assets. Progenics Pharmaceuticals, a biopharmaceutical company, has been weak on concerns that the company’s drug to treat opioid-induced constipation (OIC) in patients receiving palliative care may face regulatory hurdles. We continue to hold the position as we believe the outlook is good for Methylnaltrexone to be approved by the FDA. In addition, the Fund’s relative performance suffered as a result of our underweight (i.e. the Fund’s sector position was less than the benchmark position) in pharmaceutical company Merck, whose shares performed well during the year.

MGI PHARMA was a top contributor to relative and absolute (i.e. total return) performance. MGI shares benefited from FDA approval to expand dosing recommendations for anti-nausea drug Aloxi and better-than-expected results driven by strong sales of blood disorder treatment Dacogen. The stock received a further boost from news of MGI’s acquisition by Eisai. We trimmed our holdings but maintain an overweight position as we believe that Aloxi will drive solid earnings growth. Other top absolute contributors included Abbott Labratories, a pharmaceutical and medical device manufacturer, and Gilead Sciences, a biopharmaceutical company. Abbott reported strong third quarter results led by arthritis drug Humira and Xience, a new stent product. Gilead’s new HIV drug, Atripla, was approved in Europe and new data for Viread, an approved HIV drug, confirms that it is also active in Hepatitis B. The Fund also benefited on a relative basis by holding a below benchmark position in Amgen and by not holding Pfizer, as both companies’ shares retreated during the year.

What is the outlook?

With the stock market continuing to work out the sub-prime complications from 2007, we expect Health Care stocks to perform better than the overall market. We will remain diversified and focused on the long-term while shifting selectively to those areas that offer the most value. Despite weak recent stock performance, Japanese companies remain very attractive due to their strong cash balances and attractive new product pipelines. At the end of the period the Fund was overweight Biotechnology and Pharmaceuticals and underweight Health Care Providers & Services.

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Belgium		2.5	%
Brazil		1.0
China		0.1
Denmark		0.6
France		3.9
Germany		2.0
Ireland		2.3
Israel		1.6
Italy		0.7
Japan		10.7
Spain		0.6
United Kingdom		2.1
United States		71.5
Short-Term Investments		7.1
Other Assets and Liabilities		(6.7	)
Total		100.0	%

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Data Processing Services		0.4	%
Drugs & Druggists Sundries Wholesalers		1.6
Electromedical Manufacturing		7.9
General Medical and Surgical Hospitals		1.7
Health and Personal Care Stores		1.0
Individual and Family Services		0.3
Insurance Carriers		8.5
Medical and Diagnostic Laboratories		0.7
Medical Equipment & Supplies Manufacturing		6.8
Other Ambulatory Health Care Services		0.2
Other Textile Product Mills		0.2
Pharmaceutical & Medicine Manufacturing		57.7
Professional Services - Computer System Design and Related		1.1
Scientific Research & Development Services		11.5
Short-Term Investments		7.1
Other Assets and Liabilities		(6.7	)
Total		100.0	%

22

Hartford Global Technology HLS Fund inception 5/01/2000

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 5/01/00 - - 12/31/07
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 GSTI Technology Index is an unmanaged index designed to measure performance of companies in the technology sector. Issues in the index include producers of sophisticated devices, services and software related to the fields of computers, electronics, networking and Internet services.

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 objective — Seeks long-term capital appreciation.

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			Since Inception
Global Technology IA		13.86	%		17.98	%		-4.93	%
Global Technology IB		13.58	%		17.69	%		-5.14	%
S&P 500 Index		5.49	%		12.83	%		1.84	%*
S&P GSTI Technology Index		16.95	%		15.59	%		-8.23	%*

* 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 results seen on this page due to differences in the expense charged to this share class.
(2)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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
Scott E. Simpson	John F. Averill, CFA	Eric C. Stromquist	Bruce L. Glazer	Anita M. Killian, CFA
Senior Vice President, Partner,	Senior Vice President, Partner,	Senior Vice President, Partner,	Senior Vice President, Partner,	Vice President,
Global Industry Analyst	Global Industry Analyst	Global Industry Analyst	Global Industry Analyst	Global Industry Analyst

How did the Fund perform?

The Class IA shares of Hartford Global Technology HLS Fund returned 13.86% for the twelve-month period ended December 31, 2007, underperforming the Fund’s benchmark, the S&P GSTI Technology Index, formerly the Goldman Sachs Technology Composite Index, which returned 16.95% for the same period. The Fund also underperformed the 18.10% return of the average fund in the Lipper Science and Technology 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?

Technology stocks performed well during the period, outperforming the broader markets, as measured by the S&P 500 Index and the MSCI World Index, which returned 5% and 10% respectively. Within the benchmark, performance was driven by Internet related companies, Computer & Peripherals, and Software, while IT Services, Communications Equipment, and Semiconductors lagged.

The Fund’s relative (i.e. performance of the Fund as measured against the benchmark) underperformance during the period was driven by holdings of several Semiconductor and Commercial Services & Suppliers stocks. This was partially offset by strong returns from holdings in several Communications Equipment and Internet related stocks.

Soitec, Lam Research, Trident Microsystems, and Network Appliance were among the top relative and absolute (i.e. total return) detractors from performance during the period. Soitec, a French licensor of technology used to manufacture specialist wafers used in microprocessor and high frequency applications, declined primarily on concerns that AMD’s new processor line (which uses Soitec’s wafers) could be delayed. Coincident sluggish sales of the PlayStation 3 game console (which also uses Soitec’s wafers) compounded the issue. Shares

23

of Lam Research, a semiconductor wafer fabrication equipment company, retreated with investor concerns that an economic downturn would reduce spending on semiconductor equipment. Trident Microsystems designs, develops, and markets digital television System-On-Chip (SOC) solutions for Digital Television and AV Multimedia PCs. The company reported lower revenues because its chips used in flat screen televisions faced cheaper competition. We eliminated the position. Although Network Appliance, a provider of data management solutions, reported solid second quarter results, their guidance was tempered. The stock fell on weakness in North America and in the Financial Services sector. Storage remains one of the growth areas in technology and although enterprise spending may be softer in 2008, we continue to like the longer-term opportunities for Network Appliance. Two staffing companies held in the portfolio, Robert Half International and Manpower, also detracted from returns as a weakening economic outlook depressed their stock prices.

Top contributors to performance during the period included Nokia, Google, and Cisco Systems. Nokia, a manufacturer of mobile devices, was one of the best performing stocks in the Technology sector. Most of the negative factors that had made the stock cheap have now been repaired and we sold the stock into strength. Google, the internet search and solutions firm, reported higher-than-expected earnings driven by strength in its core search and advertising business. The company continues to expect solid growth from both core markets and new opportunities, and we added to our position. Cisco, a manufacturer of routers and other network solutions critical to the transmission of data, voice, and video, raised its guidance for long-term revenue growth during the fiscal year-end presentation in August. The improved outlook was motivated by solid order growth across product types, geographies, and customers. Cisco benefited from its strong balance sheet and non-U.S. revenue base during a period of concern about leveraged companies and domestic economic prospects. Other significant contributors to absolute performance included Apple and Research in Motion.

What is the outlook?

The U.S. economy appears to be the weakest link in the global economy due to a protracted housing downturn, tighter credit, and weaker consumption. While recessionary risks exist in the developed world, we still expect global growth to be solid overall. The increasing trade volumes among emerging market countries is helping to absorb the developed world’s slack.

U.S. consumption has slowed down and corporate IT spending in early 2008 remains uncertain. Assuming weakness stays contained to just U.S. enterprise (and mostly Financials), there will be a number of attractively valued Technology stocks for investors following the recent corrections. At this point in time, Technology companies with a geographically diversified earnings stream remain best positioned to outperform in this weaker economic backdrop.

At the end of the period, the Fund is overweight i.e. the Fund’s sector position was greater than the benchmark position) the IT Services and Internet Software & Services industries and underweight (i.e. the Fund’s sector position was less than the benchmark position) the Computers & Peripherals and Software industries.

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Hong Kong		0.1	%
Netherlands		2.2
South Korea		1.7
Switzerland		0.5
Taiwan		3.3
United Kingdom		0.7
United States		90.7
Short-Term Investments		12.5
Other Assets and Liabilities		(11.7	)
Total		100.0	%

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Activities Related to Credit Banking		3.2	%
Business Support Services		1.4
Communications Equipment		9.5
Computer and Peripheral		15.6
Electrical Equipment Manufacturing — Component Other		4.5
Employment Services		1.2
Industrial Machinery		1.1
Industrial Machinery and Equipment Rental and Leasing		2.6
Internet Providers & Web Search Portal		0.7
Internet Publishing and Broadcasting		1.2
Management, Scientific, and Technical Consulting Services		2.4
On Line Information Services		9.4
Other Investment Pools and Funds		1.3
Professional & Commercial Equipment		1.9
Professional Services — Computer System Design and Related		4.5
Securities, Commodities and Brokerage		0.0
Semiconductor, Electronic Component Manufacturing		14.5
Semiconductor, Electronic Components		2.9
Software Publishers		19.4
Wholesalers — Electrical and Electronic Merchandise		1.7
Wireless Communications Services		0.2
Short-Term Investments		12.5
Other Assets and Liabilities		(11.7	)
Total		100.0	%

24

Hartford Growth HLS Fund inception 4/30/2002

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 4/30/02 - 12/31/07
Growth of $10,000 investment

Russell 1000 Growth Index is an unmanaged index that 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.

Investment objective — Seeks long-term capital appreciation.

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			Since Inception
Growth IA		16.78	%		13.82	%		9.27	%
Growth IB		16.49	%		13.54	%		9.00	%
Russell 1000 Growth Index		11.81	%		12.11	%		6.47	%

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)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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	Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of Hartford Growth HLS Fund returned 16.78% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the Russell 1000 Growth Index, which returned 11.81% for the same period. The Fund also outperformed the 12.78% 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?

The market’s robust returns during the year reflected a change in leadership as investors began to favor growth over value. The Russell 1000 Growth Index’s 11.81% return was well ahead of the -0.17% return of the Russell 1000 Value Index. Large stocks, as measured by the Russell 1000 Index, outpaced smaller stocks, represented by the Russell 2000 Index, 5.77% to -1.57%. Seven of ten sectors in the Russell 1000 Growth Index rose, led by Materials (+38%), Energy (+36%), and Utilities (+27%). The laggards in this environment were the Consumer Discretionary (-10%), Telecommunication Services (-5%), and Financials (-1%) sectors.

The Fund’s outperformance was driven primarily by security selection. Sector allocation, a result of bottom up (i.e. stock by stock fundamental research) stock selection, was also additive to relative (i.e. performance of the Fund as measured against the benchmark) performance, largely due to overweight i.e. the Fund’s sector position was greater than the benchmark position) positions in the strong performing Materials and Information Technology sectors and an underweight (i.e. the Fund’s sector position was less than the benchmark position) position in the lagging Consumer Discretionary sector. Stock selection was particularly strong in the Materials and Industrials sectors.

Top contributors to relative returns included Potash (Materials), Agrium (Materials), Suntech Power (Industrials), and Fluor (Industrials). Potash, a Canadian agricultural products firm and Agrium, an agricultural seed, chemicals, and fertilizer company, benefited from higher grain prices, which provided support for strong fertilizer price trends. Chinese solar manufacturer Suntech Power saw its shares gain after higher-than-expected quarterly earnings led to upward earnings revisions. Engineering and construction company Fluor reported solid earnings, led by strength in oil and gas, power generation, and infrastructure projects. Fluor remains favorably positioned with a healthy project pipeline and a series of large contract wins. Top absolute (i.e. total return) contributors during the year included consumer electronics company Apple and internet search giant Google.

25

Network Appliance (Information Technology), Kohl’s (Consumer Discretionary), and NII Holdings (Telecommunication Services) were the top detractors from relative and absolute performance during the period. Network Appliance, a supplier of storage and data management solutions, is facing slowing growth and a potentially sluggish outlook for enterprise spending. We reduced our position. Specialty department store operator Kohl’s saw its shares decline with disappointing same-store-sales trends and investor concerns about overall consumer spending. We believe that new store growth and margin expansion opportunities could benefit the shares going forward and maintain a position in the stock. NII Holdings, a wireless communications company serving Latin American markets, saw its shares decline on stiff competition and weak subscriber growth. We eliminated our position.

What is the outlook?

Our investment approach is very much a bottom-up process: we pick one stock at a time based upon the attractiveness of each company’s valuation and fundamentals. As a result of this bottom-up stock selection, we were most overweight Materials and Information Technology at the end of the year. Materials positioning favored agricultural products firms and metals and mining companies. Greater-than-benchmark exposure to Information Technology was largely in Software and Services, where we see attractive valuations as the group should benefit from solid growth trends and new product cycles. Significant positions included Microsoft and Electronic Arts.

We remain broadly underweight consumer stocks amid concerns that earnings could be sluggish as consumers restrain their spending in the face of the housing market turmoil and a slowing economy. We are also underweight Health Care as we reduced our exposure to pharmaceutical firm Schering-Plough and eliminated our position in medical device company Medtronic.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		9.6	%
Capital Goods		5.1
Consumer Cyclical		4.8
Consumer Staples		1.5
Energy		5.0
Finance		10.3
Health Care		11.4
Services		10.0
Technology		36.1
Transportation		1.6
Utilities		3.2
Short-Term Investments		9.3
Other Assets and Liabilities		(7.9	)
Total		100.0	%

26

Hartford Growth Opportunities HLS Fund inception 3/24/1987

(subadvised by Wellington Management Company, LLP)

Hartford Growth Opportunities HLS Fund

Performance Overview¹ 12/31/97 - 12/31/07
Growth of $10,000 investment

Russell 1000 Growth Index is an unmanaged index that 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.

Investment objective — Seeks capital appreciation.

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			10 Year
Growth Opportunities IA		29.65	%		23.28	%		11.80	%
Growth Opportunities IB		29.33	%		22.97	%		11.53	%
Russell 1000 Growth Index		11.81	%		12.11	%		3.83	%
Russell 3000 Growth Index		11.40	%		12.42	%		3.83	%

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.

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
Senior Vice President, Partner	Vice President

How did the Fund perform?

The Class IA shares of Hartford Growth Opportunities HLS Fund returned 29.65% for the twelve-month period ended December 31, 2007, versus the returns of 11.40% for the Russell 3000 Growth Index and 11.81% for the Russell 1000 Growth Index. The Fund also outperformed the 12.70% 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?

As measured by the Russell 3000 Growth Index, U.S. growth stocks ended broadly higher for the fifth fiscal year in a row, despite significant volatility during the summer. Seven of ten sectors in the benchmark posted positive returns for the period, led by Materials (+37%), Energy (+34%), Utilities (+28%), and Information Technology (+18%). The laggards in this environment were Consumer Discretionary (-10%) and Telecommunications Services (-4%).

The Fund outperformed by maintaining its focus on stock selection, which was additive in nine of ten economic sectors. Selection was particularly strong in Materials, Consumer Discretionary, Health Care, and Information Technology. Utilities was the sole sector with negative selection. Sector weightings, the result of bottom-up (i.e. stock by stock fundamental research) stock selection decisions, also contributed to relative (i.e. performance of the Fund as measured against the benchmark) performance, primarily due to an overweight (i.e. the Fund’s sector position was greater than the benchmark position) to the Materials and Energy sectors and an underweight (i.e. the Fund’s sector position was less than the benchmark position) in Financials, which trailed during the period.

Suntech Power (Industrials), Research In Motion (Information Technology), Sunpower (Industrials) and Potash (Materials), were

27

among the top contributors to relative and absolute (i.e. total return) performance during the period. Shares of China-based solar energy products and services company Suntech Power rose sharply after higher-than-expected quarterly earnings led to upward earnings revisions. We believe that above-consensus production and pricing could lead to strong earnings going forward. Shares of Canadian communications device company Research In Motion moved higher with expectations of market share gains because of strong demand for its Curve, 8800, 8700, and Pearl devices, which are driving sales and earnings faster than expected. We eliminated the position into strength. Solar electric power products and services company Sunpower saw its shares appreciate as investors gained confidence in the firm’s earnings potential given its high-efficiency technology and leading edge production advancements. We expect that management’s strategy to integrate with some of its suppliers could drive margins higher over time. Canadian agricultural products firm Potash reported record earnings, as increasing end-market demand resulted in tight global capacity utilization rates at potash producers. Given the strong appreciation in the shares, we eliminated our position. Other top contributors to relative and absolute returns included global engineering and construction services company Foster Wheeler and British mining company Rio Tinto.

Network Appliance (Information Technology), Kohl’s (Consumer Discretionary), and Jarden (Consumer Discretionary) were the top detractors from relative and absolute performance during the period. Network Appliance, a supplier of storage and data management solutions, is facing slowing growth and a potentially sluggish outlook for enterprise spending. We reduced our position. Specialty department store company Kohl’s saw its shares decline with disappointing same-store-sales trends and investor concerns about overall consumer spending. We believe that new store growth and margin expansion opportunities could benefit the shares going forward and maintain a position in the stock. Shares in small appliance and consumer goods company Jarden retreated with investor concerns about slowing consumer spending. We maintain a position based on the firm’s strong lineup of branded products and potential margin upside. Other detractors from relative and absolute results included retailer Dollar Tree Stores, communications company NII holdings, and consumer products company Liz Claiborne.

What is the outlook?

While global economic growth appears to be on track, there clearly has been a deceleration in the U.S. Overall, the inflation picture is mixed, as the recovery in oil prices and increases in grain prices suggests increased pressure on inflation and interest rates. The biggest negatives in the economy are housing, which was overbuilt and is in the process of correcting, and tightening credit conditions. We continue to monitor the U.S. economy for signs of stress and have positioned the portfolio for a continued slowdown.

Positioning within the Fund is determined by fundamental, stock-by-stock research. At the end of the period, the Fund was most overweight in the Materials and Energy sectors and most underweight Consumer Staples and Financials stocks.

During the twelve-month period ended December 31, 2007, the Russell 1000 Growth Index was added as an additional benchmark for the Fund, effective September 28, 2007.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		13.7	%
Capital Goods		6.7
Consumer Cyclical		7.8
Consumer Staples		1.3
Energy		9.7
Finance		9.5
Health Care		9.7
Services		6.2
Technology		30.6
Utilities		3.3
Short-Term Investments		10.4
Other Assets and Liabilities		(8.9	)
Total		100.0	%

28

Hartford High Yield HLS Fund inception 9/30/1998

(subadvised by Hartford Investment Management Company)

Performance Overview¹ 9/30/02 - 12/31/07
Growth of $10,000 investment

Lehman Brothers High Yield Corporate 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 Securities Exchange Commission.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 objective — Seeks high current income. Growth of capital is a secondary objective.

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			Since Inception
High Yield IA		2.79	%		9.08	%		5.35	%
High Yield IB		2.53	%		8.80	%		5.11	%
Lehman Brothers High Yield Corporate Index		1.87	%		10.90	%		6.00	%

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)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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	Nasri Toutoungi	James Serhant, CFA
Managing Director	Managing Director	Senior Vice President, Senior Investment Analyst

How did the fund perform?

The Class IA shares of Hartford High Yield HLS Fund returned 2.79% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the Lehman Brothers High Yield Corporate Index, which returned 1.87%, and the Lipper High Current Yield VP-UF Funds category average, a group of funds with investment strategies similar to those of the Fund, which returned 2.56%.

Why did the Fund perform this way?

Issuer and security selection were the primary contributors to the Fund’s performance over the last year. Security selection was responsible for roughly two-thirds of the Fund’s outperformance relative (i.e. performance of the Fund as measured against the benchmark) to the benchmark, and sector allocation contributed the other third. The main detriment to relative returns was the Fund’s duration (i.e. sensitivity to changes in interest rates) positioning.

Within the Technology sector, the Fund’s overweight (i.e. the Fund’s sector position was greater than the benchmark position) to CompuCom Systems Inc. drove a considerable amount of its outperformance, as the company was purchased by a private equity group which subsequently made an offer for the Fund’s bonds at a substantial premium. Timely profit taking on our Intelsat Ltd. position in the first half of the year also benefited the portfolio’s relative return, as the company later announced a leveraged recapitalization that caused its bond price to drop. The Fund’s underweight (i.e. the Fund’s sector position was less than the benchmark position) to the Automotive sector and security selection within this allocation also boosted relative returns.

On the negative side, the Fund’s underweight to the supermarket sector detracted from relative performance. Specifically, over a year ago we exited our holdings in Delhaize Group and Royal Ahold N.V. due to the fact that they were relatively low-yielding credits. Their credit ratings subsequently migrated upward to investment grade status, triggering price appreciation that the Fund was unable to participate in. A similar dynamic occurred within the gas pipeline sector, where the Fund’s relative underweight hindered performance. Additionally, we added exposure to Williams Companies, Inc. and El Paso Corporation on weakness, yet still remained underweighted to these two relatively low-yielding companies, which ultimately outperformed the broader market due to their defensive nature.

29

What is the outlook?

Spreads in below investment grade corporate bonds have widened considerably, despite the fact that the trailing twelve-month default rate remains well below 2%, the lowest level since December 1981. While the default rate is likely to tick upward, we don’t expect it to rise much above 4% over the next twelve months. The market is beginning to do a better job at discriminating between good and bad credits. However, in some industries a domino effect is taking hold, giving rise to oversold conditions for some securities. This provides opportunities to add to the Fund’s holdings, but investments will be very issuer specific. As always, our focus remains on strict credit underwriting and a careful balance between risk and return.

The fact that the problems in the residential mortgage market, as well as broad areas of the structured market (most notably the structured investment vehicle (“SIV”) market and the asset-backed security/collateralized debt obligation (“ABS/CDO”) market), have still not been resolved leads us to temper our risk tolerance. As long as the major financial institutions are writing down an increasing amount of these exposures, there are fewer sources of liquidity for those companies that need it. This raises the concern that liquidity issues could turn into meaningful solvency problems, sparking a larger-than-expected rise in defaults. Many companies still have fresh memories of the last downturn in the credit cycle, and therefore have done a much better job of managing their finances in order to ensure that they can survive a period of volatility in the credit markets. However, given the fact that underwriting standards were generally loosening from the beginning of 2003 until June of 2007, there are some credits that will be entering the “zone of insolvency” as credit and economic conditions tighten. As always, ensuring that we avoid the issuers that are on this track will be our main objective for the foreseeable future.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		8.4	%
Capital Goods		2.4
Consumer Cyclical		12.0
Consumer Staples		0.8
Energy		3.9
Finance		14.8
Health Care		5.8
Services		16.7
Technology		15.4
Transportation		1.9
Utilities		9.0
Short-Term Investments		22.5
Other Assets and Liabilities		(13.6	)
Total		100.0	%

Distribution by Credit Quality

as of December 31, 2007

	Percentage of
	Long-Term
Rating	Holdings
AAA		0.3	%
BBB		0.4
BB		19.1
B		52.3
CCC		23.5
NR		4.4
Total		100.0	%

30

Hartford Index HLS Fund inception 5/1/1987

(subadvised by Hartford Investment Management Company)

Performance Overview¹ 12/31/97 - - 12/31/07

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

Average Annual Returns^2,3 (as of 12/31/07)

	1 Year			5 Year			10 Year
Index IA		5.20	%		12.42	%		5.48	%
Index IB		4.94	%		12.14	%		5.24	%
S&P 500 Index		5.49	%		12.83	%		5.91	%

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 November 9, 1999. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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

Deane Gyllenhaal

Vice President

How did the Fund perform?

The Class IA shares of Hartford Index HLS Fund returned 5.20% for the twelve-month period ended December 31, 2007, underperforming its benchmark, the S&P 500 Index, which returned 5.49%, and outperforming the Lipper S&P 500 Index Objective VP-UF Funds category average, a group of funds with investment strategies similar to those of the Fund, which returned 5.12%.

Why did the Fund perform this way?

It was a particularly volatile year for the equity markets, though eight of the ten sectors in the S&P 500 Index posted positive returns for the period. The Energy and Materials sectors led the way, with gains of 34.8% and 22.3% respectively, as oil and other commodity prices rose toward all-time highs. The worst-performing sectors were Financials, which fell by 18.6%, and Consumer Discretionary, down 13.3%. Both of these sectors were directly impacted by the U.S. subprime mortgage fallout in the second half of 2007, as banks reported mounting losses and retailers struggled.

Performance highlights for individual stocks in the Index begin with the top-performing National Oilwell Varco, which supplies products and services to the major oil companies. The stock was up over 140% for the year. Not far behind was internet retailer Amazon.com, up 134.8%. The ubiquitous Apple, Inc. had a strong showing as well, gaining 133.5%. The index laggards for the year included E*Trade Financial and Countrywide Financial, which suffered severely from their activities in the subprime mortgages markets (the former through investment holdings, the latter through lending). The stocks fell 84.2% and 78.4%, respectively.

The Fund also benefited from a one-time litigation payment received in August, which was additive to relative (i.e. performance of the Fund as measured against the benchmark) returns.

31

What is your outlook?

Looking into 2008, the environment for the equity markets could be challenging. Investors are closely watching the deteriorating housing market, energy prices, consumer demand, the softening job market, and the declining value of the U.S. dollar. These macroeconomic themes could have an impact on the economy, potentially slowing growth and causing increased speculation of a recession.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		3.4	%
Capital Goods		4.9
Consumer Cyclical		8.0
Consumer Staples		6.4
Energy		12.1
Finance		18.8
Health Care		11.2
Services		5.7
Technology		23.7
Transportation		1.4
Utilities		3.5
Short-Term Investments		12.9
Other Assets and Liabilities		(12.0	)
Total		100.0	%

32

Hartford International Growth HLS Fund inception 4/30/2001

(formerly Hartford International Capital Appreciation HLS Fund)

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 4/30/01 - 12/31/07

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.

Investment objective - Seeks capital appreciation.

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			Since Inception
International Growth IA		23.91	%		25.18	%		12.46	%
International Growth IB		23.60	%		24.87	%		12.19	%
MSCI EAFE Growth Index		16.84	%		20.25	%		9.16	%

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)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.ve

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

How did the Fund perform?

The Class IA shares of Hartford International Growth HLS Fund returned 23.91% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the MSCI EAFE Growth Index, which returned 16.84% for the same period. The Fund also outperformed the 12.63 % 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 equity markets posted strong returns during the period despite the volatility that emerged in the latter part of the year due to concerns associated with the U.S. subprime mortgage market and slowing U.S. economy.

Security selection was the main driver of the Fund’s outperformance during the period. Stock selection was particularly strong in Information Technology, Financials, and Industrials, but was slightly offset by weaker performance in Consumer stocks.

The leading contributors to relative (i.e. performance of the Fund as measured against the benchmark) performance during the period were

Research In Motion (Information Technology), Vestas Wind Systems (Industrials), and Vale, also known as Companhia Vale do Rio Doce (Materials). Shares of consumer electronic device company Research in Motion moved higher with expectations of market share gains. Shares of Vestas Wind Systems, a global leader in the wind power industry, moved higher after the company posted solid earnings as it continues to benefit from higher oil prices and increased demand for renewable energy. Shares in diversified Brazilian metals and mining company Vale moved higher as the spot price of iron ore continued to soar due to strong demand from China. Another top contributor to performance was Finland-based mobile communication device company Nokia, whose shares rose after the company reported better-than-expected earnings and margins.

Top detractors from the Fund’s relative and absolute (i.e. total return) performance included Arcandor (Consumer Discsretionary), Rakuten (Consumer Discretionary), and Vallourec (Industrials). Shares in Germany’s largest department store chain Arcandor fell amid poor domestic consumer sentiment, continued assets sales, and disappointing earnings. Japanese online retailer and brokerage firm Rakuten reported results that were below expectations due to margin pressure resulting from higher overhead costs. The brokerage and credit business segments also performed below expectations. We eliminated our position. Shares of French steel tube manufacturer Vallourec struggled due to decelerating earnings growth and slimmer profit margins.

33

What is the outlook?

As a result of bottom-up (i.e. stock by stock fundamental research) fundamental research, the Fund’s largest overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions at the end of the period relative to its benchmark were Telecommunication Services, Information Technology, and Energy, while Materials and Health Care were the Fund’s largest underweight (i.e. the Fund’s sector position was less than the benchmark position) positions. The Fund’s overweight in the Telecommunication Services sector, where top holdings include wireless communications service provider Millicom, reflects our belief that increased wireless data usage will drive earnings growth.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		4.8	%
Capital Goods		7.5
Consumer Cyclical		17.8
Consumer Staples		8.7
Energy		4.2
Finance		13.6
Health Care		6.3
Services		0.6
Technology		23.2
Transportation		1.7
Utilities		7.6
Short-Term Investments		10.6
Other Assets and Liabilities		(6.6	)
Total		100.0	%

Diversification by Country

as of December 31, 2007

	Percentage of
Country	Net Assets
Australia		1.6	%
Belgium		0.5
Bermuda		0.7
Brazil		2.2
Canada		3.3
China		2.6
Denmark		3.3
Egypt		1.7
Finland		4.1
France		10.2
Germany		8.6
Greece		0.8
Hong Kong		1.7
Ireland		2.3
Japan		4.8
Luxembourg		2.9
Netherlands		6.1
Russia		1.9
South Korea		1.1
Spain		4.6
Switzerland		9.2
Turkey		0.9
United Kingdom		18.2
United States		2.7
Short-Term Investments		10.6
Other Assets and Liabilities		(6.6	)
Total		100.0	%

34

Hartford International Opportunities HLS Fund inception 7/2/1990

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 12/31/97 - 12/31/07

Growth of $10,000 investment

MSCI All Country World ex U.S. Index is a free float-adjusted market capitalization index which measures the performance of companies within the telecommunications sector across both developed and emerging market countries. 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.

Investment objective — Seeks long-term growth of capital.

Average Annual Returns^2,3 (as of 12/31/07)

	1 Year			5 Year			10 Year
International Opportunities IA		27.43	%		23.36	%		9.60	%
International Opportunities IB		27.11	%		23.05	%		9.35	%
MSCI All Country World ex U.S. Index		17.12	%		24.52	%		10.09	%

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 April 1, 1998. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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
Vice President

How did the Fund perform?

The Class IA shares of Hartford International Opportunities HLS Fund returned 27.43% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the MSCI All Country World ex U.S. Index, which returned 17.12% for the same period. The Fund also outperformed the 12.63% 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?

International equity markets rose strongly during the period. Every sector in the MSCI All Country World ex U.S. Index rose, led by Materials (+40%), Telecommunication Services (+36%), and Energy (+32%). Health Care (+2%), Financials (+4%), and Consumer Discretionary (+6%) put up positive returns but trailed the broader market as the U.S. subprime market worries were felt globally in the latter half of the year. From a regional perspective Emerging Markets (+39%), Asia ex-Japan (+32%), and North American (+30%) stocks performed particularly well, while Japan (-4%) and the U.K. (+8%) lagged the broader market.

The Fund’s outperformance was due to strong stock selection, particularly in the Financials and Materials sectors. Aggregate level sector allocation also contributed slightly to performance as an underweight (i.e. the Fund’s sector position was less than the benchmark position) allocation to lagging Financials stocks helped benchmark-relative (i.e. performance of the Fund as measured against the benchmark) returns while a slight underweight to surging Materials detracted from relative results.

Top relative contributors to performance during the period included Hong Kong Exchanges (Financials), Research In Motion (Information Technology), and MMX Mineracao e Meta (Materials). Shares of Hong Kong Exchanges, the owner and operator of stock and futures exchanges in Hong Kong, rose substantially amid news of accelerating bourse consolidation worldwide and continuing positive fund flows. Consumer electronic device company Research In Motion moved higher on expectations of market share gains. Shares of small Brazilian mining company MMX Mineracao e Meta rose as Wall Street investors revised earnings growth expectations upward on a positive export

35

outlook, driven by the company’s low cost position and strong management team. On an absolute (i.e. total return) basis, Materials company Rio Tinto and Technology Company Nokia were also top contributors. Rio Tinto’s stock price benefited from solid iron ore fundamentals as strong Chinese demand sustains tight capacity. Nokia’s shares rose following the introduction of several successful new handset models and an aggressive cost control program that has helped the company’s bottom-line. In Energy, the Fund benefited from its holding in China Shenhua, an integrated, coal-based, Chinese energy company. The company has been a beneficiary of rising coal prices in China. We continued to hold Research in Motion, MMX Mineracao e Meta, Rio Tinto and Nokia at the end of the period.

Stocks that had the greatest negative impact on relative returns during the period included Ericsson (Information Technology), Soitec (Information Technology), and Nortel Networks (Information Technology). Shares of mobile phone maker Ericsson fell as execution challenges resulted in lower-than-expected third quarter results. Soitec’s stock price fell on worries about the near-term outlook at major customer AMD as well as slower-than-expected end market demand for micro processors. We sold the shares due to concerns that business trends were softer than expected. Shares of Canadian phone equipment manufacturer Nortel tumbled during the year on news of a delay in filing its annual report, lower-than-expected annual guidance, and former company officers being charged by the Securities and Exchange Commission (“SEC”). We had lower confidence in the turnaround at Nortel and have eliminated the stock from the Fund. We held Ericsson at the end of the period.

What is the outlook?

At a sector level, recent price weakness within Financials is creating attractive opportunities and we are beginning to selectively add exposure. To date, we have avoided companies with high credit exposure, and have preferred asset managers and exchanges. Now that many Financials stocks declined by more than 80%, we are reassessing the risk/reward profiles of a broader set of opportunities. In particular, we are looking for leading companies with strong management teams who can execute on market share gains, especially those possessing strong balance sheets and compelling valuations. We took profits within Materials as several holdings reached our price targets. At the end of the period, the Fund was most overweight (i.e. the Fund’s sector position was greater than the benchmark position) Consumer Staples and Industrials and most underweight Financials and Consumer Discretionary.

During the year, we took advantage of compelling entry points to establish positions across sectors and regions. We trimmed positions in select Emerging Markets Financials that have performed well, including Turkish banks (Akbank) and Brazilian holdings (Banco Bradesco), which have reached our price targets. Though we are finding a number of attractive opportunities in Emerging Markets, we are also looking out for inflationary pressures, as savings rates increase and input costs continue to escalate.

Diversification by Country

as of December 31, 2007

	Percentage of
Country	Net Assets
Australia	0.1	%
Austria	1.2
Belgium	0.3
Brazil	5.4
Canada	3.8
China	3.9
Egypt	1.4
Finland	2.7
France	8.2
Germany	11.2
Hong Kong	3.1
India	2.0
Ireland	1.9
Italy	3.5
Japan	10.2
Luxembourg	0.9
Mexico	0.8
Netherlands	5.9
Norway	2.8
Papua New Guinea	0.5
Russia	4.1
South Africa	1.5
Spain	2.2
Sweden	1.3
Switzerland	5.8
Turkey	0.4
United Kingdom	10.8
United States	3.2
Short-Term Investments	14.3
Other Assets and Liabilities	(13.4	)
Total	100.0	%

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials	12.3	%
Capital Goods	1.8
Consumer Cyclical	8.8
Consumer Staples	10.1
Energy	8.0
Finance	21.3
Health Care	6.8
Services	2.1
Technology	19.7
Transportation	3.5
Utilities	4.7
Short-Term Investments	14.3
Other Assets and Liabilities	(13.4	)
Total	100.0	%

36

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

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 4/30/01 - - 12/31/07

Growth of $10,000 investment

S&P/Citigroup Extended Market Euro-Pacific Index is a global index comprised of the smallest 20% of each country’s market capitalization in the Broad Market Global 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 objective – Seeks capital appreciation.

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			Since Inception
International Small Company IA		9.01	%		24.63	%		15.94	%
International Small Company IB		8.73	%		24.32	%		15.66	%
S&P/Citigroup Extended Market Euro-Pacific Index		6.03	%		28.01	%		17.11	%

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)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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	Assistant Vice President

How did the Fund perform?

The Class IA shares of Hartford International Small Company HLS Fund returned 9.01% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the S&P/Citigroup Extended Market Euro-Pacific Index, which returned 6.03% for the same period. The Fund underperformed the 12.63% 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?

International small cap equity markets advanced modestly during the period. Seven of ten sectors rose, with strength in Energy (29%), Utilities (22%), and Telecommunication Services (19%) offsetting weakness in Consumer Discretionary (-4%), Information Technology (-2%), and Financials (-2%). From a regional perspective Emerging Markets (+51%) led, followed by Asia ex-Japan (+29%), and North America (+17%). Japan (-9%) and the U.K. (-6%) lagged.

The Fund outperformed its benchmark during the period due to both stock selection and allocation among sectors, which is largely a result of the bottom-up (i.e. stock by stock fundamental research) stock selection process. In particular, the Fund benefited from an overweight i.e. the Fund’s sector position was greater than the benchmark position) position in rapidly appreciating Energy and Industrials stocks and an underweight (i.e. the Fund’s sector position was less than the benchmark position) among lagging Consumer Discretionary stocks.

At the stock level, selection was particularly strong in Industrials, Consumer Discretionary, and Health Care. Top contributors to relative (i.e. performance of the Fund as measured against the benchmark) and absolute (i.e. total return) returns were Mirae Asset Securities, Lupatech, and GS Engineering and Construction. Korean broker Mirae Asset Securities is benefiting from higher trading volumes in the Korean market this year and the ongoing structural trend of an emerging domestic pension market. This burgeoning pension market has made brokers attractive merger and acquisition targets for banks looking to enter into the broking sector, further helping to drive share price performance. Lupatech, a Latin American oil services company, benefited from growing capital expenditures at Brazilian oil giant Petrobras. In addition, the company is diversifying its revenue stream by buying small oil services outfits. Shares of GS Engineering and Construction, a Korean company involved in civil, architectural and environmental engineering, gained on news of new overseas

37

engineering contract wins in Egypt and Thailand and optimism that orders will continue from the Middle East. We exited our positions in Mirae and GS Engineering and Construction during the period but continue to hold Lupatech. Other top contributors to relative and absolute returns included Australian coal mining company Resource Pacific Holdings and Japanese steel company Japan Steel Works.

Top relative and absolute detractors from performance included Soitec, Colonia Real Estate and Pirelli. Soitec, a French licensor of technology used to manufacture specialist wafers used in microprocessor and high frequency applications, declined primarily on concerns that AMD’s new processor line (which uses Soitec’s wafers) could be delayed. Coincident sluggish sales of PlayStation 3 game consoles (which also uses Soitec’s wafers) compounded the issue. Colonia, a German real estate manager with expertise in commercial property management, saw its shares fall on softness in the German property market. Pirelli Real Estate, an Italian real estate management company, saw its shares decline with market concerns about global real estate markets. We eliminated Soitec and Colonia but continue to hold Pirelli. Other detractors included U.K. restaurant operator Clapham House and Italian eyewear company Safilo.

What is the outlook?

Stocks in the Fund are selected one at a time based on their individual merits. Our largest sector overweight is in Health Care, where we have a focus on both the high margin and recurring revenue models of the equipment and service companies and also the steady, defensive nature of some of the pharmaceutical companies. Within the pharmaceutical industry our focus is on companies like Shionogi (Japan) and Almirall (Spain) where we feel the medium to longer term earnings potential of specific compounds are underappreciated by the market.

Industrials exposure represents our second-largest overweight and our largest absolute weight in the Fund. We have diverse exposure across the sector, with a focus on compelling stock stories that we believe are well positioned to benefit from long-term secular themes, such as the continued strength of Japanese car makers and associated components providers (Nachi Fujikoshi). Among airlines, we hold AirAsia based on a bullish secular outlook for growth in the region, as well as EasyJet, a well managed low-cost provider in Europe. We also hold COSCO Pacific, based on its strong strategic position as an owner of Chinese ports. As well, we own Goodpack, which is benefiting from a conversion among shipping companies from wood pallets to reusable, and therefore more environmentally friendly, metal pallets. We are also overweight in the Energy sector, with particular emphasis on oil services providers, where the pricing environment continues to be very strong, and on the Australian coal sector, where favorable long term trends remain unchanged.

We remain underweight Financials, as we decreased exposure to banks during the period. We are underweight the consumer broadly, including an underweight position to retailers in the U.K. and Europe, where we believe the consumer will likely face a headwind from slowing economic growth. Among retailers, we tend to favor companies with a strong strategic position within local markets (Mariella Burani) or unique global franchises with strong returns on capital (Dufry).

On a regional basis, our greatest underweight position at the end of the period was in Europe, mostly due to less-than-benchmark exposures to the U.K., Germany, Switzerland, and Spain, as valuations are no longer compelling relative to the risk/reward profile of many companies in these regions. This was offset by overweight positions in Japan and select Emerging Markets.

Diversification by Country

as of December 31, 2007

	Percentage of
Country	Net Assets
Australia	7.8	%
Belgium	0.8
Bermuda	0.6
Brazil	2.8
Canada	1.2
Chile	0.3
China	1.6
Denmark	0.7
Finland	0.9
France	7.1
Germany	6.3
Hong Kong	6.0
India	0.4
Italy	5.5
Japan	22.9
Liechtenstein	1.2
Malaysia	0.5
Netherlands	3.1
Norway	2.1
Portugal	0.7
Singapore	1.2
South Korea	2.6
Spain	2.0
Sweden	3.1
Switzerland	3.5
United Kingdom	14.3
Short-Term Investments	22.4
Other Assets and Liabilities	(21.6	)
Total	100.0	%

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials	19.7	%
Capital Goods	6.6
Consumer Cyclical	10.6
Consumer Staples	1.8
Energy	6.5
Finance	13.0
Health Care	14.3
Services	6.8
Technology	9.8
Transportation	7.1
Utilities	3.0
Short-Term Investments	22.4
Other Assets and Liabilities	(21.6	)
Total	100.0	%

38

Hartford LargeCap Growth HLS Fund inception 5/1/1998

(formerly Hartford Blue Chip Stock HLS Fund)

(subadvised by Hartford Investment Management Company)

Performance Overview 12/31/97 - 12/31/07

Growth of $10,000 investment

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

Investment objective - Seeks long-term growth of capital.

Average Annual Returns¹ (as of 12/31/07)

	1 Year			5 Year			10 Year
LargeCap Growth IA		5.52	%		11.19	%		5.11	%
Russell 1000 Growth Index		11.81	%		12.11	%		3.83	%
S&P 500 Index		5.49	%		12.83	%		5.91	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1) Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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

Hugh Whelan
Managing Director

How did the Fund perform?

The Class IA shares of Hartford LargeCap Growth HLS Fund returned 5.52% for the twelve-month period ended December 31, 2007, underperforming its benchmark, the Russell 1000 Growth Index, which returned 11.81%, and the Lipper Large Cap Growth VP-UF Funds category, a group of funds with investment strategies similar to those of the Fund, which returned 12.78%.

Why did the Fund perform this way?

Our team invests in companies that we believe have compelling stock characteristics versus the benchmark index. The team’s systematic approach weighs more than 70 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.

The Fund’s underperformance for the one-year period relative (i.e. performance of the Fund as measured against the benchmark) to the benchmark Russell 1000 Growth Index was driven by weak security selection in the Energy and Industrials sectors, as well as an overweight (i.e. the Fund’s sector position was greater than the benchmark position) to, and weak security selection in, the Consumer Discretionary sector. However, the Fund did benefit from security selection in the Materials sector and an overweight to Information Technology.

Among the largest contributors to returns were overweights in Apple and Monsanto. Besides strong financial results, Apple has enjoyed unprecedented popularity driven by the launch of the iPhone, the success of its iPod and iTunes, an increasing acceptance of Macintosh computers, and its new Leopard operating system. Monsanto’s performance has also been impressive. Recently announced partnerships, divestments, and regulatory approval of entry into Argentina and Brazil have benefited the company’s stock. In addition, ethanol demand has given Monsanto’s seeds and genomics business segment a boost with strong global corn seed sales. Another segment of

39

Monsanto, agricultural productivity, is enjoying better pricing for its Roundup agricultural herbicides.

Among the largest detractors from returns were overweights in RadioShack and Big Lots. RadioShack’s sales fell, despite a third-quarter profit (versus a loss one year earlier). The company’s poor performance was primarily driven by intense competition in the electronics sector and poor sales of Sprint wireless phones and accessories. Big Lots had a better than expected third-quarter profit, but the company’s same store sales have been declining. Additionally, the company lowered its fourth-quarter and 2007 profit guidance, noting that its low-income consumers are cutting back.

At the end of the period, the portfolio’s top holdings included Apple and Microsoft. Apple is a top holding because of its favorable investor sentiment exhibited by good relative strength in the stock price, strong management behavior as exhibited by efficient working capital management, and good business performance demonstrated by attractive margins and margin growth. Similarly, Microsoft is a top holding primarily due to a combination of good business performance represented by strong profit margins, positive investor sentiment exhibited by good relative strength in the stock price, and strong management behavior as exhibited by its conservative deployment of excess cash and efficient working capital management.

What is the outlook?

Looking ahead, the environment for stocks looks challenging as threats to future earnings growth seem to be mounting and the appetite for multiple expansion receding. For 2008, we see three key themes that could significantly impact performance relative to our benchmark: volatility, credit spreads and market breadth.

Volatility increased dramatically during 2007 and we expect this higher volatility level to continue in 2008. An increase in volatility is often coincident with a change in market leadership, which we saw in 2007 when large cap stocks outperformed small cap stocks and growth stocks outperformed value stocks. If volatility remains high without another change in market leadership, as we expect, we should be able to take advantage of that volatility. If, however, volatility remains high because of yet another change in leadership, such as a reversion to small cap value, that would create a difficult environment for the Fund.

We also believe credit spreads will continue to widen, which should favor higher-quality stocks (those with stronger financial ratios) and therefore, help performance. However, there is the possibility of a low-quality rally in the event of rate cuts by the Federal Open Market Committee (the “Fed”).

Market breadth narrowed in 2007, with fewer stocks driving gains in market indices, and we expect this trend to continue. This should favor stocks with relative strength, as captured by our investor sentiment theme.

While we are always looking for ways to improve our strategy, we emerge from 2007 committed to our belief that for long-term success, the best approach is to remain fully invested and build the portfolio from the bottom-up (i.e. stock by stock fundamental research) based on company-specific fundamentals. We believe this approach will yield attractive risk-adjusted returns relative to the benchmark index over the long term.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials	1.8	%
Capital Goods	6.7
Consumer Cyclical	11.1
Consumer Staples	6.3
Energy	5.1
Finance	15.6
Health Care	14.1
Services	9.6
Technology	28.1
Utilities	1.5
Short-Term Investments	15.4
Other Assets and Liabilities	(15.3	)
Total	100.0	%

40

Hartford MidCap HLS Fund* inception 7/14/1997

(subadvised by Wellington Management Company)

Performance Overview¹ 12/31/97 - 12/31/07

Growth of $10,000 investment

S&P MidCap 400 Index is an unmanaged index measuring the performance of the mid-size company segment of the U.S. 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.

Investment objective - Seeks long-term growth of capital.

Average Annual Returns^2,3 (as of 12/31/07)

	1 Year			5 Year			10 Year
MidCap IA		15.30	%		19.25	%		17.00	%
MidCap IB		15.01	%		18.96	%		16.72	%
S&P MidCap 400 Index		7.98	%		16.20	%		11.20	%

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.
(2)	Class IB shares commenced on November 9, 1999. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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 Hartford MidCap HLS Fund returned 15.30% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the S&P MidCap 400 Index, which returned 7.98% for the same period. The Fund also outperformed the 4.54% 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?

U.S. equity markets rose in the first half of the year as better-than-expected corporate earnings and mergers and acquisition activity offset concerns of both rising interest rates and a persisting U.S. housing slump. In the third quarter, credit concerns and the deteriorating housing environment weighed on equities, but markets rebounded somewhat as actions by the Federal Open Market Committee (the “Fed”) helped allay fears of a recession. However, markets succumbed to a loss in the fourth quarter amid continued evidence of mounting subprime-related profit write-downs and a slowing U.S. economy.

During the twelve-month period ended December 31, 2007, investor preferences reversed from last year, shifting to mid cap (+7.98%) and large cap shares (+5.49%) versus small cap stocks (-1.57%) when measured by the S&P MidCap 400 Index, S&P 500 Index, and Russell

2000 Index, respectively. Growth stocks (+11.43%) outperformed value stocks (-7.27%) during the period, as measured by the Russell Midcap Growth Index and Russell 2500 Value Index. Within the S&P MidCap 400 Index, Energy and Materials were the best-performing sectors, while Financials and Consumer Discretionary were the only sectors to post negative returns.

Strong security selection was the primary driver of the Fund’s relative (i.e. performance of the Fund as measured against the benchmark) performance, although sector allocation also played a positive role. The Fund benefited from particularly strong stock selection within the Consumer Discretionary, Materials, and Health Care sectors, which more than offset weaker stock selection in the Information Technology and Industrials sectors. The Fund’s underweight (i.e. the Fund’s sector position was less than the benchmark position) allocation to the lagging Financials sector and overweight (i.e. the Fund’s sector position was greater than the benchmark position) to the strong performing Industrials sector also contributed to relative returns. This was slightly offset by underweights to the Energy and Materials sectors.

Foster Wheeler, Potash, and GlobalSantaFe were among the top relative and absolute (i.e. total return) contributors to performance for 2007. Shares of global engineering and construction services company Foster Wheeler rose based on significant exposure to fast-growing international end markets and the robust power generation project

41

spending cycle. Favorable agricultural demand trends spurred sharp stock price appreciation in Canadian fertilizer and feed products company Potash. Shares of energy holding company GlobalSantaFe benefited from favorable supply/demand trends for rigs. Industrial parts manufacturer Precision Castparts was another top contributor for the year. At the end of the period, we continued to hold Foster Wheeler and Precision Castparts, but had eliminated our positions in Potash and GlobalSantaFe, which merged with fellow offshore driller Transocean.

Top detractors on a relative and absolute basis included information technology holdings Network Appliance and MoneyGram International and financial services company E*Trade Financial. Shares of enterprise storage company Network Appliance fell due to concerns that the firm may not meet investors’ lofty growth expectations. However, business trends remain strong, and we continue to hold the stock. Global payment services company MoneyGram International declined with lower earnings and concerns about the value of mortgage securities in the firm’s portfolio. We exited our position. We also eliminated our position in retail and institutional trading and financial services company E*Trade Financial. The company’s shares fell on credit concerns regarding its mortgage and related securities.

What is the outlook?

Our efforts are focused on picking stocks based on a bottom-up (i.e. stock by stock fundamental research) review of their fundamentals. Sector exposure is predominantly a fall-out of stock selection. During the period, we increased the overweight to the Information Technology sector by adding new positions in software & services companies VeriSign and McAfee. We added to Materials holdings with a new purchase in iron ore firm Cleveland-Cliffs. We reduced our overweight to Industrials, eliminating capital goods firm American Standard after it successfully initiated plans to divest divisions.

At year-end our largest overweights relative to the S&P MidCap 400 Index were to the Information Technology and Industrials sectors, while the largest underweights were to Financials and Utilities.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		11.0	%
Capital Goods		2.2
Consumer Cyclical		16.6
Consumer Staples		1.6
Energy		7.5
Finance		9.9
Health Care		14.1
Services		12.7
Technology		18.1
Transportation		2.8
Utilities		2.9
Short-Term Investments		13.3
Other Assets and Liabilities		(12.7	)
Total		100.0	%

42

Hartford MidCap Growth HLS Fund inception 5/1/1998

(subadvised by Hartford Investment Management Company)

Performance Overview 5/01/98 - 12/31/07

Growth of $10,000 investment

Russell MidCap Growth Index measures the performance of those Russell MidCap companies with higher price-to-book ratios and higher forecasted growth values. The stocks are members of the Russell 1000 Growth Index.

S&P MidCap 400 Index is an unmanaged index measuring the performance of the mid-size company segment of the U.S. 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.

Investment objective — Seeks long-term growth of capital.

Average Annual Returns^1,2 (as of 12/31/07)

	1 Year			5 Year			Since Inception
MidCap Growth IA		11.65	%		14.15	%		6.81	%
Russell MidCap Growth Index		11.43	%		17.90	%		6.46	%
S&P MidCap 400 Index		7.98	%		16.20	%		10.19	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)

Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

(2)

Part of the performance of the Fund is due to purchases of securities sold in Intitial Public Offerings (“IPOs”) that materially affected the performance of the Fund. The effect of IPOs on the Fund’s performance depends on a variety of factors including the number of IPOs that the Fund invests in, whether and to what extent a security purchased in an IPO appreciates in value, and the asset base of the Fund. Although the fund may purchase IPOs, not all such purchases may materially affect performance. There is no guarantee that the Fund’s investment in IPOs, if any, will continue to have a similar impact on the Fund’s performance.

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

Hugh Whelan
Managing Director

How did the Fund perform?

The Class IA shares of Hartford MidCap Growth HLS Fund returned 11.65% for the twelve-month period ended December 31, 2007, outperforming the Fund’s benchmark, the Russell MidCap Growth Index, which returned 11.43%, and underperforming the Lipper MidCap Growth VP-UF Funds category, a group of funds with investment strategies similar to those of the Fund, which returned 16.48%.

Why did the Fund perform this way?

Our team invests in companies that we believe have compelling stock characteristics relative (i.e. performance of the Fund as measured against the benchmark) to the benchmark index. The team’s systematic approach weighs 30 fundamental characteristics across four broad categories, including business behavior, management behavior, valuation and investor behavior. We use this analysis 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 higher margins.

The Fund’s outperformance for the one-year period versus the benchmark was primarily due to strong security selection in the Industrials and Consumer Discretionary sectors. An overweight (i.e. the Fund’s sector position was greater than the benchmark position) to the Energy sector also contributed to the Fund’s relative outperformance. However, adverse security selection in the Energy and Financials sectors detracted from performance.

Among the largest contributors to relative returns was First Solar, a solar module manufacturer whose stock price continued to climb all year, as surging oil prices made solar power more attractive. Likewise, MEMC, a manufacturer of silicon wafers used in solar panels,

43

consistently beat analyst estimates each quarter as demand for alternative energy remained particularly strong, buoyed by rising oil prices. GameStop also made a strong contribution, based on its continued domination of the expanding video game market.

The primary detractor from relative returns was a large overweight position in WellCare Health Plans. WellCare’s stock fell after the company’s headquarters were raided by federal and state officers for alleged Medicaid fraud. Rackable Systems was another stock that hindered performance. The company’s first-quarter earnings fell below analyst expectations as rising competition began to erode Rackable’s once-dominant market share.As of year end, the Fund’s current top holdings include overweight positions in Humana, a healthcare benefits company, and Chemtura, a global producer of specialty chemicals. Humana is a top holding due to attractive valuations and strong management behavior, as evidenced by efficient use of working capital and management of receivables. Chemtura is a top holding because of its attractive valuation.

What is the outlook?

Looking ahead, the environment for stocks looks challenging as threats to future earnings growth seem to be mounting and the appetite for multiple expansion receding. For 2008 we see three key themes that could significantly impact performance relative to our benchmark: volatility, credit spreads and market breadth.

Volatility increased dramatically during 2007 and we expect this higher volatility level to continue in 2008. An increase in volatility is often coincident with a change in market leadership, which we saw in 2007 when large cap stocks outperformed small cap stocks and growth stocks outperformed value stocks. If volatility remains high without another change in market leadership, as we expect, we should be able to take advantage of that volatility. If, however, volatility remains high because of yet another change in leadership, such as a reversion to small cap value, that would create a difficult environment for the Fund.

We also believe credit spreads will continue to widen, which should favor higher-quality stocks (those with stronger financial ratios) and therefore, help performance. However, there is the possibility of a low-quality rally in the event of rate cuts by the Federal Open Market Committee (the “Fed”).

Market breadth narrowed in 2007, with fewer stocks driving gains in market indices, and we expect this trend to continue. This should favor stocks with relative strength, as captured by our investor sentiment theme.

We remain committed to our belief that for long-term success, the best approach is to remain fully invested and build the portfolio from the bottom-up (i.e. stock by stock fundamental research) based on company-specific fundamentals. We believe this approach will yield attractive risk-adjusted returns relative to the benchmark index over the long term.

During the twelve-month period ended December 31, 2007 Hugh Whelan replaced Mark Waterhouse as portfolio manager for the Fund. This transition was effective on April 2, 2007.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		7.7	%
Capital Goods		4.5
Consumer Cyclical		12.8
Consumer Staples		2.4
Energy		11.7
Finance		12.5
Other Instrument Pools and Funds		0.4
Health Care		6.8
Services		13.1
Technology		23.8
Transportation		1.2
Utilities		2.7
Short-Term Investments		29.4
Other Assets and Liabilities		(29.0	)
Total		100.0	%

44

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

(subadvised by Wellington Management Company)

Performance Overview¹ 4/30/01 - 12/31/07
Growth of $10,000 investment

Russell 2500 Value Index measures 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.

Investment objective – Seeks long-term capital appreciation.

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			Since Inception
MidCap Value IA		2.13	%		17.15	%		10.19	%
MidCap Value IB		1.87	%		16.86	%		9.93	%
Russell 2500 Value Index		-7.27	%		16.17	%		11.11	%

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)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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 ManagerJames N. Mordy
Senior Vice President,
Partner

How did the Fund perform?

The Class IA shares of Hartford MidCap Value HLS Fund returned 2.13% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the Russell 2500 Value Index, which returned - -7.27% for the same period. The Fund underperformed the 2.84% return of the average fund in the Lipper Mid Cap Value VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

U.S. equity markets advanced for most of the twelve-month period, but pulled back in the latter part of the year due to sub-prime and credit worries. Mid cap stocks outperformed both large and small cap stocks. The S&P MidCap 400 Index returned 7.98% compared to the S&P 500 large cap index return of 5.49% and the Russell 2000 small cap index return of -1.57%. Growth stocks (+11.8%) outperformed value stocks (-0.2%) during the period, as measured by the Russell 1000 Growth Index and Russell 1000 Value Index.

The Fund’s outperformance compared to the benchmark was primarily due to strong stock selection, particularly in Materials, Industrials and Information Technology. Additionally, sector allocation decisions, which are the result of bottom-up (i.e. stock by stock fundamental research) stock selection, also contributed to the Fund’s performance results. The Fund benefited from a significant underweight (i.e. the Fund’s sector position was less than the benchmark position) in the lagging Financials sector and an overweight (i.e. the Fund’s sector position was greater than the benchmark position) to the Industrials sector.

The top three contributors to relative (i.e. performance of the Fund as measured against the benchmark) performance were Owens-Illinois (Materials), Goodrich (Industrials) and Bunge (Consumer Staples). Packaging products-maker Owens-Illinois benefited from the sale of its plastics business to Rexam PLC and from improvements in its core glass business. Shares of Goodrich, a global supplier of components, systems and services to the commercial and general aviation airplane markets, increased due to strong sales in each of their major market segments, particularly the increase in delivery of Boeing and Airbus products for whom Goodrich is a key supplier. Brazilian fertilizer company Bunge benefited from solid agriculture fundamentals, including increased global demand for grains and alternative energy, and a strong recovery in the financial health of the Brazilian farmers. We held positions in these three stocks at the end of the period.The three largest detractors from relative performance were E*Trade (Financials), R.H. Donnelley (Consumer Discretionary) and Circuit City (Consumer Discretionary). E*Trade’s stock price declined in response to a difficult credit market that led to write-downs in the company’s

45

mortgage-related securities portfolio. Yellow pages company R.H. Donnelley’s shares declined due to a combination of economic weakness and the company’s meaningful financial leverage. Circuit City’s stock was impacted by poor execution of management’s turnaround plan, which has become even more challenging in the difficult consumer environment. We eliminated our positions in E*Trade and Circuit City but held onto R.H. Donnelley during the period.

What is the outlook?

We believe the U.S. economy has definitely lost momentum. Economic data, on balance, is worsening, led by continued deterioration in the housing market. We expect a challenging and narrow market in the coming quarters. We will continue to invest in sectors opportunistically and on a stock-by-stock basis reflecting our bottom-up process.

At the end of the period, our most significant overweights were in Industrials and Information Technology, where we continue to identify new investment opportunities. Our most notable underweight sectors remained Financials and Utilities where it is still difficult to find compelling values.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		18.5	%
Capital Goods		8.7
Consumer Cyclical		9.0
Consumer Staples		4.9
Energy		6.7
Finance		13.0
Health Care		8.5
Services		7.7
Technology		12.8
Transportation		3.8
Utilities		5.5
Short-Term Investments		14.7
Other Assets and Liabilities		(13.8	)
Total		100.0	%

46

Hartford Mortgage Securities HLS Fund inception 1/1/1985

(subadvised by Hartford Investment Management Company)

Performance Overview¹ 12/31/97 - 12/31/07
Growth of $10,000 investment

Lehman Brothers Mortgage-Backed Securities Index is an index of mortgage backed pass-through securities of the Government National Mortgage Association, Federal National Mortgage Association and Federal Home Loan Mortgage Corporation. 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 objective – Seeks maximum current income consistent with safety or principal and maintenance of liquidity by investing primarily in mortgage-related securities.

Average Annual Returns^2,3 (as of 12/31/07)

	1 Year			5 Year			10 Year
Mortgage Securities IA		3.39	%		3.36	%		5.07	%
Mortgage Securities IB		3.13	%		3.11	%		4.81	%
Lehman Brothers Mortgage-Backed Securities Index		6.89	%		4.48	%		5.90	%

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 November 9, 1999. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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

Christopher Hanlon, CFA
Senior Vice President Russell M. Regenauer
Senior Vice President

How did the Fund perform?

The Class IA shares of Hartford Mortgage Securities HLS Fund returned 3.39% for the twelve-month period ended December 31, 2007, underperforming the Lehman Brothers Mortgage-Backed Securities Index, which returned 6.89%, and the Lipper U. S. Mortgage VP-UF Funds category, a group of funds with investment strategies similar to those of the Fund, which returned 4.66%.

Why did the Fund perform this way?

After nearly six years of robust economic growth, the U.S. economy began to show some signs of slowing in the last months of 2007, due in part to the weakening housing market, reduced consumer spending from the subprime borrower, the tightening of bank’s credit standards and the lagged effects of the Federal Open Market Committee (the “Fed”) tightening campaign that ended in 2006. Treasury rates declined throughout the year, particularly those of shorter-term securities, and all non-Treasury securities lagged Treasuries. For comparison, the benchmark Lehman Brothers Mortgage-Backed Securities Index return

of 6.89% was 1.78% lower than a portfolio of similar-maturity Treasury securities.

The Fund benefited from the decline in Treasury rates and the steepening of the yield curve (i.e. short and long term interest rates moving farther apart), as it was well-positioned to capitalize on the increasing differential between two-year and ten-year Treasuries during the year. The Fund’s duration (i.e. sensitivity to changes in interest rates) positioning was a small contributor to relative (i.e. performance of the Fund as measured against the benchmark) performance as well.

The Fund’s underperformance relative to the benchmark was largely due to sector allocations away from mortgage-backed securities (“MBS”), particularly securities rated below AAA. Allocations to asset-backed securities (“ABS”) containing home equity loans, as well as commercial mortgage-backed securities (“CMBS”), underperformed as investors avoided riskier assets and yield spreads of structured securities widened due to growing concerns about subprime mortgage exposure. Yield spreads of U.S. government guaranteed Small Business Administration (“SBA”) loans also widened, causing the sector to underperform MBS. As a result, the Fund’s holdings in SBA loans also detracted from relative performance.

47

What is the outlook?

We believe the U.S. economy is poised to experience sluggish growth in 2008 due to the likelihood of continued housing deterioration, rising unemployment and slower consumer spending. We expect the Fed will continue to lower the target federal funds rate, causing the yield curve to steepen further. We also anticipate that the amount of mortgage credit available to the consumer will decrease, which is likely to impair many homeowners’ ability to refinance in 2008, even with lower Treasury rates.

We will continue to aggressively monitor the housing market, and plan to maintain our strategy of holding securities with less prepayment risk. We will also continue to add premium agency-guaranteed mortgages backed by loans to homeowners with lower credit scores and higher loan-to-value ratios, and maintain an overweight (i.e. the Fund’s sector position was greater than the benchmark position) to agency hybrid adjustable-rate mortgages (“ARMs”). Although we expect volatility to remain relatively high, we believe investors in the mortgage market are currently being fairly compensated for that. While yield spreads have widened universally, we believe that fundamentally sound and well underwritten deals should ultimately benefit with the passage of time and the improvement in liquidity conditions. As such, we anticipate maintaining the Fund’s exposure to ABS and CMBS as well its AAA credit quality profile, which we believe will benefit in the coming months.

Distribution by Credit Quality

as of December 31, 2007

	Percentage of
	Long-Term
Rating	Holdings
AAA	82.6	%
AA	6.2
A	1.4
BBB	0.4
BB	0.1
NR	9.3
Total	100.0	%

Distribution by Sector

as of December 31, 2007

	Percentage of
Category	Net Assets
Asset & Commercial Mortgage Backed Securities	34.2	%
Corporate Bonds:
Investment Grades	0.2
U.S. Government Agencies	77.2
Short-Term Investments	6.0
Other Assets and Liabilities	(17.6	)
Total	100.0	%

48

Hartford Small Company HLS Fund inception 8/9/1996

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

Performance Overview¹ 12/31/97 - 12/31/07

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.

Investment objective — Seeks growth of capital.

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			10 Year
Small Company IA		14.23	%		22.56	%		10.20	%
Small Company IB		13.94	%		22.26	%		9.95	%
Russell 2000 Growth Index		7.05	%		16.49	%		4.32	%

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.

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 C. Mortimer	Mario E. Abularach, CFA	Hugh Whelan
Senior Vice President, Partner	Vice President	Vice President	Managing Director

How did the Fund perform?

The Class IA shares of Hartford Small Company HLS Fund returned 14.23% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the Russell 2000 Growth Index which returned 7.05% for the same period. The Fund also outperformed the 9.06% 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?

After a strong start, U.S. equity markets struggled in the latter part of the year as a result of problems in the sub-prime mortgage market and the subsequent reduction in liquidity throughout the financial system. The best performing sectors within the Russell 2000 Growth Index during this period were Utilities (+33%), Materials (+29%), Energy (+14%), and Health Care (+13%), while Financials (-12%), Consumer Discretionary (-2%), and Telecommunication Services (-2%) lagged.

Favorable security selection within several sectors drove outperformance during the period. Consumer Discretionary, Materials and Energy were areas of particular strength relative (i.e. performance

of the Fund as measured against the benchmark) to the benchmark. Terra Industries (Materials), Denbury Resources (Energy), and Dade Behring (Health Care) were the top contributors to relative and absolute (i.e. total return) performance. Terra Industries, a nitrogen fertilizer products company, benefited from strong agricultural demand, and we trimmed our position as the shares neared our price target. Denbury Resources, an oil-focused exploration and production company, reported earnings ahead of expectations, aided by record production levels and higher oil prices. Dade Behring, a manufacturer and distributor of diagnostic products and services to clinical laboratories, was acquired by Siemens. We sold the shares at a significant gain. Other top contributors included engineering software firm Ansys and online travel company Priceline.com.

Stocks that detracted from performance during the period included Kenexa (Industrials), Soitec (Information Technology), and Live Nation (Consumer Discretionary). Kenexa, a human resources software company, suffered due to lower than expected earnings during the fourth quarter as customers put off buying software packages. We eliminated the position. Soitec, a French licensor of technology used to manufacture specialist wafers used in microprocessor and high frequency applications, declined primarily on concerns that AMD’s new processor line (which uses Soitec’s wafers) could be delayed.

49

Coincident sluggish sales of the PlayStation 3 game console (which also uses Soitec’s wafers) compounded the issue. Shares of Live Nation, a leading concert promoter and live entertainment venue manager, sold off after the company released disappointing quarterly earnings results. Inherent choppiness of the concert business together with acquisition and divestiture activity make it difficult to predict short term results. We remain holders of the stock. ViroPharma (Health Care) and CompuCredit (Financials) were also among the detractors from relative performance. ViroPharma fell after it stopped trials of an important pipeline drug. The fact that the company’s existing drugs face the prospect of greater competition from generics put further pressure on its stock price. CompuCredit was weighed down by the sub-prime mortgage market troubles, and dropped dramatically after it reported earnings that missed analyst estimates.

What is the outlook?

We believe that rising commodity prices, particularly energy and food, and fallout from turmoil in U.S. real estate markets will continue to play out in the year ahead. In addition, the ultimate impact of actions taken by central banks around the globe to ameliorate credit market woes remains unknown. Even so, a backdrop of potential uncertainty and volatility can create excellent longer term investment opportunities. Our intention is to stay keenly focused on identifying stocks of companies whose future growth is under-appreciated and under-priced. We ended the period most overweight (i.e. the Fund’s sector position was greater than the benchmark position) the Materials, Energy, and Consumer Discretionary sectors and most underweight (i.e. the Fund’s sector position was less than the benchmark position) the Health Care, Industrials and Financial sectors.

During the twelve-month period ended December 31, 2007 Hugh Whelan replaced Mark Waterhouse as portfolio manager for the Hartford Investment Management Company sleeve of the Fund. This transition was effective on April 2, 2007.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials	12.2	%
Capital Goods	6.2
Consumer Cyclical	10.3
Consumer Staples	0.8
Energy	6.8
Finance	10.7
Health Care	13.3
Services	12.4
Technology	28.7
Transportation	0.6
Utilities	0.1
Short-Term Investments	21.0
Other Assets and Liabilities	(23.1	)
Total	100.0	%

50

Hartford SmallCap Growth HLS Fund inception 5/2/1994

(subadvised by: Wellington Management Company, LLP

Hartford Investment Management Company)

Performance Overview¹ 12/31/97 - 12/31/07

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.

Investment objective – Seeks to maximize capital appreciation.

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			10 Year
SmallCap Growth IA		-1.84	%		15.07	%		9.45	%
SmallCap Growth IB		-2.09	%		14.79	%		9.19	%
Russell 2000 Growth Index		7.05	%		16.49	%		4.32	%

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.

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	Doris T. Dwyer	Hugh Whelan
Vice President	Vice President	Managing Director

How did the Fund perform?

The Class IA shares of Hartford SmallCap Growth HLS Fund returned -1.84% for the twelve-month period ended December 31, 2007, underperforming its benchmark, the Russell 2000 Growth Index, which returned 7.05% for the period. The Fund also underperformed the 9.06% 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?

After a strong start, U.S. equity markets struggled in the latter part of the year as a result of problems in the sub-prime mortgage market and the subsequent reduction in liquidity throughout the financial system. In this environment, large caps (+5.8%) outperformed small caps (-1.6%), while growth (+11.4%) outperformed value (-1.0%) as measured by the Russell 1000 Index, Russell 2000 Index, Russell 3000 Growth Index and Russell 3000 Value Index, respectively.

Consistent with our process, the Fund’s performance was driven primarily by stock selection. Stock selection was weakest in Technology, Industrials, Consumer Discretionary, and Financials. This

was partially offset by strong stock selection in Materials and Telecommunications Services. The Fund’s investment approach tends to tilt modestly toward less speculative stocks within the growth universe. This tilt contributed significantly to underperformance during this period, but historically has added value over the long run.

Top relative (i.e. performance of the Fund as measured against the benchmark) and absolute (i.e. total return) detractors included Advanta (Financials), Skechers (Consumer Discretionary) and New York & Co. (Consumer Discretionary). Advanta, a small-business credit card issuer, saw its shares decline due to concerns about higher-than-expected delinquencies. Skechers, a footwear manufacturer, reported declining revenue, pushing its shares lower. New York & Co, a specialty retailer of fashion-oriented, moderately priced women’s apparel, suffered due to weak sales trends and charges relating to the closure of an underperforming chain. Other significant detractors from relative and absolute returns included American Commercial, a marine transportation and service company, MicroStrategy, a business intelligence software company, and CV Therapeutics, a biotechnology company.

Perrigo (Health Care), Cleveland-Cliffs (Industrials), and Rigel Pharmaceutical (Health Care) were the top absolute and relative contributors to performance. Shares of Perrigo, a generic drug and

51

health care products company, gained when the FDA approved the marketing and distribution of Omeprazole, a generic version of the heartburn drug Prilosec OTC. Cleveland-Cliffs, an iron ore pellet producer, benefited from tight fundamentals in global iron ore and iron scrap markets. Finally, Rigel Pharmaceuticals announced excellent data from its Phase II trials for its rheumatoid arthritis drug, which pushed the stock price higher. We modestly trimmed our position in Rigel into strength.

What is the outlook?

Global markets head into 2008 with uncertainty as the probability of a U.S. economic recession looms and central banks evaluate policy responses aimed at maintaining liquidity and restoring confidence all while containing inflation. In this environment we will continue to employ a combination of fundamental and quantitative research to identify the most attractive stocks, while maintaining appropriate risk controls relative to the benchmark. The result is a portfolio built one stock at a time that is well diversified across all sectors of the Russell 2000 Growth Index.

As a result of the Fund’s investment approach, sector positioning is inline with the Russell 2000 Growth Index, resulting in significant exposure to the Information Technology and Health Care sectors and minimal exposure to Telecommunications and Consumer Staples.

During the twelve-month period ended December 31, 2007, Hugh Whelan replaced Mark Waterhouse as portfolio manager for the Hartford Investment Management Company sleeve of the Fund. This transition was effective on April 2, 2007.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials	6.5	%
Capital Goods	5.5
Consumer Cyclical	10.7
Consumer Staples	0.4
Energy	5.9
Finance	6.0
Health Care	20.8
Services	12.9
Technology	25.3
Transportation	3.5
Utilities	0.0
Short-Term Investments	26.3
Other Assets and Liabilities	(23.8	)
Total	100.0	%

52

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.)

Performance Overview¹ 5/1/98 - 12/31/07
Growth of $10,000 investment

Russell 2000 Value Index is a broad-based unmanaged index comprised of 2,000 of the smallest U.S. domiciled company common stocks (on the basis of capitalization) that are traded in the U.S. on the New York Stock Exchange, American Stock Exchange and Nasdaq. 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 objective – Seeks capital appreciation.

Average Annual Returns^2,3 (as of 12/31/07)

	1 Year			5 Year			Since Inception
SmallCap Value IA		-4.44	%		14.04	%		10.99	%
SmallCap Value IB		-4.67	%		13.82	%		10.74	%
Russell 2000 Value Index		-9.78	%		15.80	%		8.42	%

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)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.
(3)	Class IB shares commenced on July 1, 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 the actual Class IB share performance.

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, CFA	Gary W. Lisenbee	Ric Thomas, CFA
Managing Director	President	Principal
Sandi L. Gleason, CFA	Samir Sikka	Chuck Martin, CFA
		Principal

How did the fund perform?

The Class IA shares of Hartford SmallCap Value HLS Fund returned -4.44%% for the twelve-month period ended December 31, 2007. The Fund outperformed the -9.78% return of its benchmark, the Russell 2000 Value Index and the -6.61% return of the Lipper Small Cap Value VP-UF Funds peer group average, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

It was a tale of two markets in 2007. During the first half, domestic equity prices were fueled by private investors’ attraction to strong corporate cash flows, liquid balance sheets and low-cost buyout financing. Investors shrugged off concerns of rising interest rates, higher oil prices and a slowing housing market. In the second half, the market pulled back due to sub-prime and credit worries.

Throughout 2007, mid cap stocks outperformed small and larger cap stocks, as measured by the S&P Midcap 400 Index (7.98%), Russell

2000 Index -1.57%, and S&P 500 Index 5.49%, respectively. Reversing the trend of recent years within small cap stocks, growth stocks outpaced value during the year, as measured by the Russell 2000 Growth Index 7.05% and Russell 2000 Value Index -9.78%.

While six of 10 sectors in the Russell 2000 Value Index advanced for the year, performance varied widely by sector. Over 50 percentage points separated the leader, Materials (+24%) from the laggard, Consumer Discretionary (-30%).

Stock selection was the primary driver of our performance during the year. Syntel (a business provider of information technology services and one of our largest holdings) and Tempur-Pedic International (a mattress and pillow manufacturer) were top relative (i.e. performance of the Fund as measured against the benchmark) performers as a result of posting strong financial results and increasing earnings guidance. Other strong contributors for the Fund included Oceaneering International (an offshore oil provider with a focus on deep water applications) and Chattem (a marketer and manufacturer of over-the-counter healthcare products). Oceaneering’s shares surged 70% during the year due to tight supply, strong pricing and solid performance. The increasing

53

difficulty of finding and tapping oil and gas resources, particularly offshore, heighten demand for Oceaneering’s remotely operated vehicles that service and maintain deepwater rigs. Chattem shares rose due to the successful integration of five personal care and health-care brands it acquired from Johnson & Johnson in January 2007.

Performance also benefited from the Fund’s underweight (i.e. the Fund’s sector position was less than the benchmark position) in the Financials sector relative to the Russell 2000 Value Index, as the sector (down 21%) continued to underperform the market due to sub-prime concerns. The Fund’s average weight in Financials was 25%, as compared to 33% for the benchmark.

Detractors from performance included MCG Capital (a commercial financing company) and Corus Bankshares (a bank holding company). MCG Capital decreased due to a significant third quarter writedown of one of its largest portfolio investments. Corus fell due to poor financial results from the continued slowdown in the residential housing market.

What is the outlook?

We believe that fallout from turmoil in U.S. real estate markets will continue to impact the markets in the year ahead. In addition, the ultimate impact of actions taken by central banks around the globe to ameliorate credit market woes remains unknown. Even so, a backdrop of potential uncertainty and volatility can create longer term investment opportunities. 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, Consumer Discretionary and Health Care. Conversely, the Fund’s largest underweight position relative to the benchmark continues to be in Financials, which we consider unattractive given above-average historical valuations, rising credit costs, and the slowdown in the housing market. We believe that the complementary style of the three sub-advisors provides the Fund with a well positioned portfolio in this environment to add value relative to the market and its peers.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials	9.2	%
Capital Goods	6.2
Consumer Cyclical	13.9
Consumer Staples	2.6
Energy	6.0
Finance	25.0
Health Care	4.9
Services	13.5
Technology	9.7
Transportation	4.3
Utilities	1.6
Short-Term Investments	31.8
Other Assets and Liabilities	(28.7	)
Total	100.0	%

54

Hartford Stock HLS Fundinception 8/31/1977

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 12/31/97 - 12/31/07
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 objective – Seeks long-term growth of capital.

Average Annual Returns^(2,3) (as of 12/31/07)

	1 Year			5 Year			10 Year
Stock IA		5.90	%		11.89	%		5.65	%
Stock IB		5.64	%		11.61	%		5.42	%
S&P 500 Index		5.49	%		12.83	%		5.91	%

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 April 1, 1998. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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	Vice President

How did the Fund perform?

The Class IA shares of Hartford Stock HLS Fund returned 5.90% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the S&P 500 Index which returned 5.49% for the same period. The Fund also outperformed the 5.78% 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?

Equity markets faltered after a strong start to the year as concerns over subprime mortgages and rising energy prices weighed heavily on the U.S. consumer. Despite the volatility over the last six months, broad indices still managed to squeeze out mostly positive returns. Large cap equities (+5.5%) outpaced small cap stocks (-1.6%) but underperformed mid caps (+8.0%) as represented by the S&P 500 Index, Russell 2000 Index, and S&P MidCap 400 Index, respectively. Reversing the trend from previous years, growth-oriented stocks (+11.8%) dominated value-oriented stocks (-0.2%), as measured by the Russell 1000 Growth Index and Russell 1000 Value Index, respectively. During the twelve month period, Energy (+33%), Materials (+22%) and Utilities (+19%) were clear leaders within the broad market, as represented by the S&P 500 Index, while Financials (-19%) and Consumer Discretionary (-13%) posted negative returns.

The Fund’s outperformance versus the benchmark was driven primarily by security selection. Selection was strongest within the Information Technology, Materials and Consumer Staples sectors. Stocks that contributed the most to benchmark-relative (i.e. performance of the Fund as measured against the benchmark) returns included Apple (Information Technology), Google (Information Technology), and Occidental Petroleum (Energy). Consumer electronics company Apple reported sharply higher profits due to strong sales of Macintosh computers and iPod products. The shares also benefited from enthusiasm over the recent launch of the iPhone. Shares of internet search company Google rose during the latter part of the period as it continued to gain market share as the leading internet search company. Shares of Occidental Petroleum rose sharply along with energy prices. In Materials, the Fund benefited from its holdings in mineral exploration and development company Freeport-McMoRan, which rose on strong commodity pricing trends and benefits from its merger with Phelps Dodge. We held our positions in these stocks at the end of the period.

Stock selection within the Consumer Discretionary, Health Care and Telecommunication Services sectors hurt relative performance. Top detractors from the Fund’s benchmark-relative returns included Financials stocks Countrywide Financial, Capital One and E*Trade. The collapse of the mortgage market caused mortgage originator

55

Countrywide to suffer as its asset quality deteriorated and the market worried that it was facing a liquidity crisis. Diversified financial company Capital One declined with investor concerns about the firm’s exposure to consumer credit. Broker and banking services provider E*Trade fell on credit concerns regarding the firm’s mortgage and home equity portfolios. In Consumer Discretionary, the Fund’s holdings in Circuit City and D.R. Horton hurt relative performance, while within Telecommunication Services, the Fund’s holding of Sprint-Nextel detracted most from performance.

What is the outlook?

The Fund continues to be managed with a large cap, core investment approach. We apply a bottom-up (i.e. stock by stock fundamental research) investment process in constructing a diversified portfolio and seek companies that exhibit industry leadership, strong balance sheets, solid management, high return on equity, accelerating earnings, and/or attractive valuation with a catalyst. Our bottom-up investment approach resulted in the Fund being overweight (i.e. the Fund’s sector position was greater than the benchmark position) Information Technology, Health Care and Financials and underweight (i.e. the Fund’s sector position was less than the benchmark position) Utilities, Consumer Staples and Energy at the end of the period.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		5.0	%
Consumer Cyclical		4.2
Consumer Staples		5.2
Energy		9.5
Finance		22.6
Health Care		14.9
Services		9.5
Technology		27.5
Transportation		0.2
Utilities		1.0
Short-Term Investments		4.2
Other Assets and Liabilities		(3.8	)
Total		100.0	%

56

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

(subadvised by Hartford Investment Management Company)

Performance Overview¹ 12/31/97 - 12/31/07
Growth of $10,000 investment

Lehman Brothers U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Lehman Brothers Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed 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 objective – Seeks a competitive total return, with income as a secondary objective.

Average Annual Returns^2,3 (as of 12/31/07)

	1 Year			5 Year			10 Year
Total Return Bond IA		4.67	%		4.86	%		6.06	%
Total Return Bond IB		4.41	%		4.60	%		5.82	%
Lehman Brothers U.S. Aggregate Bond Index		6.97	%		4.43	%		5.97	%

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 April 1, 1998. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.
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

Nasri Toutoungi
Managing Director

How did the Fund perform?

The Class IA shares of Hartford Total Return Bond HLS Fund returned 4.67% for the twelve-month period ended December 31, 2007, underperforming the Lehman Brothers U.S. Aggregate Bond Index, which returned 6.97%, 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 6.25%.

Why did the Fund perform this way?

Although the U.S. economy grew at a solid pace for much of the year, signs of slowing emerged in the fourth quarter as the subprime mortgage market problems appeared to be spreading to exert a drag on the broader economy. The contraction in credit and market liquidity that occurred during the period led the Federal Open Market Committee (the “Fed”) to lower the target federal funds rate on three separate occasions between September and December, bringing the rate to 4.25% at year end. These reductions, coupled with a flight to quality, pushed Treasury yields lower, particularly on the short end of the yield curve, helping Treasuries to outperform all other sectors of the market.

Various factors contributed to the Fund’s underperformance versus the benchmark Lehman Brothers U.S. Aggregate Bond Index. An underweight (i.e. the Fund’s sector position was less than the benchmark position) to Treasuries in favor of spread (or non-Treasury) sectors was a considerable factor as Treasuries outperformed. The Fund held an overweight (i.e. the Fund’s sector position was greater than the benchmark position) to the Financials sector, which was particularly hard hit by the credit and liquidity crunch. We favored this sector over Industrials as corporate event risk in the Industrial sector remained high due to the large amount of leveraged buyout activity. The Fund’s small exposure to home equity, which we modestly increased in March and April, also hindered relative (i.e. performance of the Fund as measured against the benchmark) performance.

Although the high-yield segment of the market performed quite well in the first half of the year, growing risk aversion in the latter half of the year caused spreads to widen dramatically, causing the Fund’s exposure there to hamper returns. Holdings in bank loans, which we had perceived to be relatively safer than high-yield, also struggled during the period.

57

On a more positive note, the Fund’s non-dollar exposure served it well as the dollar fell for much of the period. The Fund’s yield-curve positioning also helped performance by taking advantage of the steepening in the curve (i.e. short and long term interest rates moving farther apart) during the year.

What is your outlook?

Although the economy has held up fairly well to date, supported in part by a strong employment picture, emerging signs of weakness in employment and in retail sales suggest slow growth in the months ahead. The credit crisis has clouded visibility around the economy and significantly increased the probability of recession. Given this, we believe it is likely that the Fed will continue in its efforts to boost liquidity, which would cause the yield curve to further steepen.

We are cautious as we move into 2008. In an effort to help reduce the impact of a potential supply/demand imbalance within the bank loan and high yield sectors, we have trimmed the Fund’s exposure there while retaining those bonds that we believe have been unduly penalized. We will look to add foreign bond exposure in the coming year as Europe and the U.K. lag behind the U.S. in their respective cycles and, therefore, appear to offer compelling opportunities.

Distribution by Credit Quality

as of December 31, 2007

	Percentage of
	Long-Term
Rating	Holdings
AAA		58.9	%
AA		4.7
A		10.4
BBB		12.8
BB		8.2
B		2.9
CCC		0.8
C		0.0
NR		1.3
Total		100.0	%

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		2.6	%
Capital Goods		0.8
Consumer Cyclical		2.2
Consumer Staples		0.9
Energy		1.8
Finance		30.0
Foreign Governments		0.8
General Obligations		0.2
Health Care		1.1
Housing (HFA’S, etc.)		0.0
Services		4.5
Technology		4.6
Transportation		0.7
U.S. Government Agencies		38.0
U.S. Government Securities		2.9
Utilities		2.8
Short-Term Investments		10.2
Other Assets and Liabilities		(4.1	)
Total		100.0	%

58

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

(subadvised by Hartford Investment Management Company)

Performance Overview¹ 12/31/97 - 12/31/07
Growth of $10,000 investment

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

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			10 Year
U.S. Government Securities IA		4.38	%		2.83	%		5.03	%
U.S. Government Securities IB		4.12	%		2.57	%		4.77	%
Lehman Brothers Intermediate Government Bond Index		8.47	%		3.70	%		5.55	%

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.

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

Christopher Hanlon	Russell M. Regenauer
Senior Vice President	Senior Vice President

How did the Fund perform?

The Class IA shares of Hartford U.S. Government Securities HLS Fund returned 4.38% for the twelve-month period ended December 31, 2007, underperforming the Lehman Brothers Intermediate Government Bond Index, which returned 8.47%, and 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 7.34%.

Why did the Fund perform this way?

After nearly six years of robust economic growth, the U.S. economy began to show some signs of slowing in the last months of 2007, due in part to the weakening housing market, reduced consumer spending from sub prime borrowers, the tightening of bank’s credit standards and the lagged effects of the Federal Open Market Committee’s (the “Fed”) tightening campaign that ended in 2006. Treasury rates declined throughout the year, particularly those of shorter-term securities, and non-Treasury securities lagged Treasuries.

In this environment, the Fund’s allocations to non-Treasury and nonAgency securities were the primary detractors from the Fund’s relative (i.e. performance of the Fund as measured against the benchmark)

performance for the year. Allocations to asset-backed securities (“ABS”), home equity, commercial mortgage-backed securities (“CMBS”) and mortgage-backed securities (“MBS”) underperformed Treasury and Agency debt as investors avoided riskier assets and yield spreads of structured securities widened due to growing concerns about subprime mortgage exposure. The Fund’s duration (i.e. sensitivity to changes in interest rates) positioning was a small detractor from performance as well.

On a positive note, yield-curve positioning was additive to performance. During the period, the Fund benefited from the decline in Treasury rates and the steepening of the yield curve (i.e. short and long term interest rates moving farther apart) as the yield differential between two-year and ten-year Treasuries increased.

59

What is your outlook?

We believe the U.S. economy is poised to experience sluggish growth in 2008 due to the likelihood of continued housing deterioration, rising unemployment and slower consumer spending. We also expect the Fed will continue to lower the target federal funds rate, causing the yield curve to steepen further. While yield spreads have widened universally, we believe that fundamentally sound and well-underwritten deals should ultimately benefit with the passage of time and the improvement in liquidity conditions. As such, we anticipate maintaining the Fund’s exposure to MBS, ABS and CMBS as well its AAA credit quality profile, which we believe will benefit in the coming months.

Distribution by Credit Quality

as of December 31, 2007

	Percentage of
	Long-Term
Rating	Holdings
AAA		91.0	%
AA		3.0
A		0.7
BBB		0.6
BB		0.2
NR		4.5
Total		100.0	%

Distribution by Sector
as of December 31, 2007

	Percentage of
Category	Net Assets
Asset & Commercial Mortgage Backed Securities		17.1	%
Corporate Bonds: Investment Grades		0.2
U.S. Government Agencies		55.3
U.S. Government Securities		20.4
Short-Term Investments		35.2
Other Assets and Liabilities		(28.2	)
Total		100.0	%

60

Hartford Value HLS Fund inception 4/30/2001

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 4/30/01 - 12/31/07
Growth of $10,000 investment

Russell 1000 Value Index measures 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 objective – Seeks long-term total return.

Average Annual Returns² (as of 12/31/07)place would have been lower in the absence of the waivers.

	1 Year			5 Year			Since Inception
Value IA		8.98	%		15.37	%		7.12	%
Value IB		8.70	%		15.08	%		6.86	%
Russell 1000 Value Index		-0.17	%		14.63	%		7.28	%

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)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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, vari able annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

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

How did the Fund perform?

The Class IA shares of Hartford Value HLS Fund returned 8.98% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the Russell 1000 Value Index, which returned -0.17% for the same period. The Fund also outperformed the 1.69% return of the average fund in the Lipper Large-Cap Value Funds VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

U.S. equities weakened during the period in part due to the liquidity crunch in late summer, heightened fears of a U.S. recession and persistently high energy prices. Within the Fund’s Russell 1000 Value Index benchmark, seven out of ten sectors posted positive returns. Energy, Utilities and Materials posted the largest returns, while Financials and Consumer Discretionary lagged. Mid cap stocks outperformed both large and small cap stocks. The S&P MidCap 400 Index returned 7.98% compared to the S&P 500 large cap index return of 5.49% and the Russell 2000 small cap index return of -1.57%.

The primary driver of the Fund’s outperformance relative (i.e. performance of the Fund as measured against the benchmark) to the benchmark was strong stock selection, particularly within Information Technology, Financials and Industrials. In addition, while the Fund’s investment strategy is driven by bottom-up (i.e. stock by stock fundamental research) fundamental research, the Fund’s 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) position in Consumer Staples helped performance.

The top three relative contributors to performance were Agrium (Materials), Occidental Petroleum (Energy) and Nokia (Information Technology). In addition, Exxon Mobil (Energy) and AT&T (Telecommunication Services) were significant contributors on an absolute (i.e. total return) basis.

Agrium, a fertilizer producer, benefited from the supply and demand imbalance associated with higher crop prices. Occidental Petroleum and Exxon Mobil both benefited from the rally in crude oil prices and the widening in U.S. refining margins over the last year. Cell phone manufacturer Nokia’s shares rose following the introduction of several successful new handset models and an aggressive cost control program that has helped the company’s bottom-line. AT&T benefited from the much anticipated merger of the company with BellSouth. We eliminated our position in Nokia during the period and held our positions in the other four companies.

61

The top three relative detractors from performance were Financials stocks Host Hotels & Resort, Discover Financial Services and State Street. Wachovia, Bank of America and Citigroup were significant detractors to absolute performance. Host Hotels & Resort’s stock price declined on investor fears about the likelihood of a U.S. recession and a more cautious view of commercial real estate in the wake of the recent liquidity crunch. The remaining five Financials stocks all suffered sharp declines in their stock prices on concerns about their exposures to sub-prime mortgages and mortgage derivatives. Citigroup took significant write-downs in their exposure to mortgage-related securities and we believe that there continues to be additional near-term risk within this sector. We held positions in all of these stocks at the end of the period.

What is the outlook?

Global credit conditions have deteriorated sharply. U.S. GDP growth is now expected to decelerate in the upcoming year as tightening credit conditions may deepen the housing slump. Consequently, we believe U.S. consumer spending will weaken, as we expect the performance of the U.S. economy to be a drag on global growth. Domestic corporate profits are stressed but largely offset by strong international gains. The Federal Open Market Committee (the “Fed”) has responded to the liquidity crisis by cutting interest rates and we believe they will also react to any further deterioration.

At the end of the period, relative to the Russell 1000 Value Index, the Fund was most overweight Consumer Staples and Information Technology and most underweight Consumer Discretionary, Financials and Industrials.

During the twelve-month period ended December 31, 2007, W. Michael Reckmeyer, III, CFA, Karen H. Grimes, CFA, and Ian R. Link, CFA were added as portfolio managers of the Fund, effective October 1, 2007.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials	5.1	%
Capital Goods	1.3
Consumer Cyclical	8.1
Consumer Staples	6.3
Energy	14.9
Finance	27.7
Health Care	6.5
Services	1.9
Technology	17.4
Transportation	2.3
Utilities	7.0
Short-Term Investments	5.2
Other Assets and Liabilities	(3.7	)
Total	100.0	%

62

Hartford Value Opportunities HLS Fund inception 5/1/1996

(subadvised by Wellington Management Company, LLP)

Performance Overview¹ 12/31/97 - 12/31/07
Growth of $10,000 investment

Russell 1000 Value Index measures 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 objective – Seeks capital appreciation.

Average Annual Returns² (as of 12/31/07)

	1 Year			5 Year			10 Year
Value Opportunities IA		-6.29	%		15.30	%		7.75	%
Value Opportunities IB		-6.53	%		15.01	%		7.48	%
Russell 1000 Value Index		-0.17	%		14.63	%		7.68	%
Russell 3000 Value Index		-1.01	%		14.69	%		7.73	%

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.

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 Hartford Value Opportunities HLS Fund returned -6.29% for the twelve-month period ended December 31, 2007, versus the returns of -1.01% for the Russell 3000 Value Index and -0.17% for the Russell 1000 Value Index. The Fund also underperformed the -0.43% return of the average fund in the Lipper Multi-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?

Over the past year, U.S. equities delivered mixed performance as early strength was followed by weakness in the second half caused by the liquidity crunch in late summer, heightened fears of a U.S. recession and persistently high (and increasing) energy prices. Value stocks (-1.01%) underperformed growth stocks (+11.40%), as measured by the Russell 3000 Value Index and Russell 3000 Growth Index. Mid cap

stocks outperformed both large and small cap stocks. The S&P MidCap 400 Index returned 7.98% compared to the S&P 500 large cap index return of 5.49% and the Russell 2000 small cap index return of -1.57%. Within the Fund’s Russell 3000 Value Index benchmark, seven out of ten sectors posted positive returns. Energy, Materials, and Utilities posted the largest returns, while Financials lagged the most.

The primary driver of the Fund’s relative (i.e. performance of the Fund as measured against the benchmark) underperformance was stock selection. Selection was particularly weak in the Consumer Discretionary, Telecommunication Services and Industrials sectors and more than offset strong stock selection in Materials and Information Technology. Sector allocation, a result of our bottom-up (i.e. stock by stock fundamental research) stock selection, also detracted slightly from relative performance, primarily due to our underweight (i.e. the Fund’s sector position was less than the benchmark position) positions in the Utilities, Energy and Telecommunication Services sectors, which posted double-digit returns, and overweight (i.e. the Fund’s sector position was greater than the benchmark position) in the lagging

63

Consumer Discretionary sector. However, the Fund did benefit from an underweight position in Financials.

The top three detractors from performance were E*Trade (Financials), Comcast (Consumer Discretionary) and Capital One Financial (Financials). E*Trade’s stock price declined in response to a difficult credit market that led to write downs in the company’s securities portfolio. Cable operator Comcast’s shares fell as the investment community focused more on the threat of competition in video from the regional Bells than on the company’s opportunities in triple-play services (cable, internet and telephone) and the small business market. Shares of Capital One Financial, a diversified financial company providing credit card and banking services, declined with investor concerns about the firm’s exposure to consumer credit and mortgage markets. We held positions in these stocks at the end of the period.

Among the top contributors to both absolute (i.e. total return) and benchmark-relative returns were Owens-Illinois (Materials), Goodrich (Industrials) and Deere (Industrials). Packaging products-maker Owens-Illinois benefited from the sale of its plastics business to Rexam PLC and from improvements in its core glass business. Shares of Goodrich, a supplier to the aerospace and defense industries, climbed due to the aftermarket demand for replacement parts in the company’s product line resulting from strength in the current air-travel environment.
Agricultural-equipment maker Deere’s stock price benefited from higher demand for ethanol. We held all three stocks at the end of the period.

What is the outlook?

To say that equity investors as a group are nervous about the slowing macroeconomic environment and the resultant effects on corporate earnings would be an understatement. The fear took root first in the Financials—the worst-performing sector in the Russell 1000 Value Index during the quarter—and other leveraged business models on the thesis that maturing debts would be impossible to refinance, or would be funded only at great additional cost. Prices for many of these stocks have been driven down to tangible equity levels or below, on the assumption that asset carrying values will be permanently impaired during the credit crunch.

The selling pressure has also spread to sectors with perceived earnings risk from constrained consumer or enterprise discretionary spending. Investment dollars instead are gravitating towards stocks with clear earnings momentum or less susceptible profit prospects. While this is typical pre-recessionary market behavior, the extent of the divergence has been stark.

While flight from risk assets has been unpleasant from a near-term performance perspective, we believe it has also provided a growing field of attractive investment opportunities. The challenge is not to react too quickly, as the events which stocks are discounting today might take a year or more to play out, all the while against a backdrop of negative news headlines and investor fatigue. We have made some moves to take advantage of the crisis mentality in the market today, but have generally avoided holdings with near-term financing needs, as those will likely remain extremely vulnerable until stability returns.

As of the end of the period, the Fund was most overweight Information Technology, Health Care and Consumer Discretionary relative to the benchmark. The Fund was most underweight Utilities and Telecommunication Services, which seem expensive in comparison with their growth prospects, and Financials, which still appear to offer outsized risk relative to their return potential.

During the twelve-month period ended December 31, 2007, James H. Averill, a portfolio manager of the Fund, retired from Wellington Management Company and withdrew from active involvement in the Fund effective April 1, 2007.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		10.0	%
Capital Goods		4.2
Consumer Cyclical		5.8
Consumer Staples		5.8
Energy		9.7
Finance		26.1
Health Care		10.6
Services		8.4
Technology		15.1
Transportation		3.5
Short-Term Investments		11.9
Other Assets and Liabilities		(11.1	)
Total		100.0	%

64

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­ ­  65  ­ ­

Hartford Advisers HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 65.0%
		Basic Materials — 3.4%
	204	Agrium, Inc.	$	14,717
	1,810	Alcoa, Inc.		66,148
	321	ArcelorMittal		24,829
	862	Cameco Corp. (G)		34,296
	362	Consol Energy, Inc.		25,876
	437	Freeport McMoRan Copper & Gold, Inc.		44,756
	1,938	Mitsubishi Rayon Co., Ltd. (A)		9,343
	157	United States Steel Corp.		18,963
	999	Uranium One, Inc. (D)		8,942
				247,870
		Consumer Cyclical — 2.8%
	11,241	Buck Holdings L.P. (A)(D)(H)		10,117
	1,903	Kohl’s Corp. (D)		87,162
	3,093	Lowe’s Cos., Inc.		69,957
	980	Supervalu, Inc.		36,758
				203,994
		Consumer Staples — 3.4%
	111	Bunge Ltd. Finance Corp. (G)		12,910
	7	Japan Tobacco, Inc. (A)		38,811
	1,022	PepsiCo, Inc.		77,577
	1,669	Procter & Gamble Co.		122,553
				251,851
		Energy — 6.2%
	769	Chesapeake Energy Corp. (G)		30,160
	374	ConocoPhillips Holding Co.		33,024
	726	EnCana Corp. (G)		49,366
	1,211	Exxon Mobil Corp.		113,431
	1,073	Halliburton Co.		40,663
	1,547	OAO Gazprom ADR		87,706
	1,360	Occidental Petroleum Corp.		104,668
				459,018
		Finance — 14.4%
	2,135	American International Group, Inc.		124,476
	2,797	Bank of America Corp.		115,425
	1,265	Capital One Financial Corp.		59,798
	751	Citigroup, Inc.		22,101
	2,533	Countrywide Financial Corp. (G)		22,642
	3,159	Discover Financial Services (G)		47,639
	469	Federal Home Loan Mortgage Corp.		15,986
	1,181	Federal National Mortgage Association		47,196
	446	Goldman Sachs Group, Inc.		95,891
	1,116	ING Groep N.V. ADR		43,404
	2,819	Invesco Ltd. (G)		88,470
	330	Merrill Lynch & Co., Inc.		17,717
	865	Morgan Stanley		45,956
	782	State Street Corp. (G)		63,506
	1,773	UBS AG		81,573
	1,504	UnitedHealth Group, Inc.		87,510
	2,399	Washington Mutual, Inc. (G)		32,650
	2,168	Western Union Co.		52,646
				1,064,586
		Health Care — 9.6%
	560	Astellas Pharma, Inc. (A)		24,279
	517	AstraZeneca plc (A)		22,263
	802	Daiichi Sankyo Co., Ltd. (A)		24,667
	585	Eisai Co., Ltd. (A)		22,880
	3,390	Elan Corp. plc ADR (D)(G)		74,501
	1,326	Eli Lilly & Co.		70,785
	782	Genentech, Inc. (D)		52,462
	1,559	Medtronic, Inc.		78,346
	1,091	Sanofi-Aventis S.A. ADR		49,682
	2,903	Schering-Plough Corp.		77,347
	2,723	Shionogi & Co., Ltd. (A)		48,276
	445	UCB S.A. (A)		20,205
	667	Vertex Pharmaceuticals, Inc. (D)(G)		15,492
	1,260	Walgreen Co.		47,985
	1,802	Wyeth		79,648
				708,818
		Services — 6.3%
	664	Accenture Ltd. Class A		23,906
	5,173	Comcast Corp. Class A (D)		94,455
	813	Monster Worldwide, Inc. (D)		26,325
	4,074	Time Warner, Inc.		67,255
	1,413	United Parcel Service, Inc. Class B		99,927
	1,183	Viacom, Inc. Class B (D)		51,971
	1,802	Waste Management, Inc.		58,865
	3,389	XM Satellite Radio Holdings, Inc. Class A (D)(G)		41,483
				464,187
		Technology — 18.1%
	444	Apple, Inc. (D)		87,868
	3,971	Applied Materials, Inc.		70,521
	1,498	AT&T, Inc.		62,261
	1,617	Broadcom Corp. Class A (D)		42,261
	4,649	Cisco Systems, Inc. (D)		125,835
	1,357	Corning, Inc.		32,552
	569	Electronic Arts, Inc. (D)		33,230
	3,289	Flextronics International Ltd. (D)		39,663
	6,475	General Electric Co.		240,043
	194	Google, Inc. (D)		134,355
	4,223	Intel Corp.		112,577
	646	KLA-Tencor Corp.		31,121
	2,930	Maxim Integrated Products, Inc.		77,576
	1,087	MetroPCS Communications, Inc. (D)(G)		21,134
	2,850	Network Appliance, Inc. (D)		71,131
	673	Qualcomm, Inc.		26,479
	638	SanDisk Corp. (D)		21,159
	2,325	Sprint Nextel Corp.		30,521
	584	Whirlpool Corp. (G)		47,696
	1,053	Yahoo!, Inc. (D)		24,495
				1,332,478
		Transportation — 0.1%
	751	Delta Air Lines, Inc. (D)		11,175
		Utilities — 0.7%
	591	Suntech Power Holdings Co., Ltd. ADR (D)(G)		48,667
		Total common stock (cost $4,727,374)	$	4,792,644

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

­ ­  66  ­ ­

			Market
Shares			Value (W)
PREFERRED STOCK — 0.4%
		Finance — 0.4%
	971	Banco Itau Holding	$	24,818
	153	Federal Home Loan Mortgage Corp.		4,006
		Total preferred stock (cost $25,143)	$	28,824
Principal
Amount
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 5.2%
		Finance — 5.2%
		Asset Securitization Corp.
$	17,200	6.93%, 02/14/2043	$	18,589
		Banc of America Commercial Mortgage, Inc.
	4,590	5.35%, 09/10/2047 (L)		4,570
	15,000	5.45%, 01/15/2049		15,073
		Bear Stearns Commercial Mortgage Securities, Inc.
	9,575	5.30%, 10/12/2042 (L)		9,494
	22,350	5.54%, 09/11/2041 — 10/12/2041		22,694
		Capital Automotive Receivables Asset Trust
	12,600	5.04%, 05/17/2010		12,655
		Citibank Credit Card Issuance Trust
	11,945	5.65%, 09/20/2019		11,957
		Citigroup/Deutsche Bank Commercial Mortgage Trust
	15,000	5.40%, 07/15/2044 (L)		14,956
		Commercial Mortgage Pass-Through Certificates
	15,000	5.12%, 06/10/2044		14,746
		Countrywide Home Loans, Inc.
	3,426	5.26%, 11/25/2035 (L)		3,428
		Credit Suisse Mortgage Capital Certificates
	7,365	5.47%, 09/15/2039		7,423
	10,445	5.61%, 02/15/2039 (L)		10,603
		Ford Credit Automotive Owner Trust
	12,125	5.26%, 10/15/2010		12,179
		Greenwich Capital Commercial Funding Corp.
	10,385	5.22%, 04/10/2037 (L)		10,303
	6,020	5.44%, 03/10/2039 (L)		6,056
		GSR Mortgage Loan Trust
	7,394	5.79%, 05/25/2047 (L)		7,357
		Harley-Davidson Motorcycle Trust
	5,281	2.53%, 11/15/2011		5,207
	12,375	5.21%, 06/17/2013		12,535
		Household Automotive Trust
	9,125	5.28%, 09/17/2011		9,168
		JP Morgan Chase Commercial Mortgage Security Corp.
	6,305	5.34%, 12/15/2044 (L)		6,279
	15,000	5.44%, 06/12/2047 (L)		15,059
	7,755	5.48%, 12/12/2044 (L)		7,845
	6,500	6.07%, 04/15/2045 (L)		6,763
		Marriott Vacation Club Owner Trust
	1,814	5.36%, 10/20/2028 (I)		1,847
		Merrill Automotive Trust Securitization
	12,985	5.43%, 01/15/2010		13,038
		Merrill Lynch Mortgage Trust
	15,000	5.05%, 07/12/2038		14,682
		Morgan Stanley Capital I
	9,580	5.23%, 09/15/2042		9,470
	6,655	5.45%, 02/12/2044 (L)		6,671
		Morgan Stanley Capital Investments
	14,985	5.51%, 11/12/2049 (L)		15,159
		Residential Accredit Loans, Inc.
	9,377	5.25%, 02/25/2035 (L)		9,290
		Sequoia Mortgage Trust
	11,318	5.82%, 02/20/2047 (L)		11,408
		Susquehanna Automotive Lease Trust
	11,219	5.21%, 03/16/2009 (I)		11,220
		USAA Automotive Owner Trust
	12,195	5.36%, 02/15/2011		12,250
		Wachovia Bank Commercial Mortgage Trust
	10,000	5.12%, 07/15/2042		9,828
		Wells Fargo Mortgage Backed Securities Trust
	8,605	4.55%, 03/25/2035 (L)		8,533
	12,097	5.53%, 04/25/2036 (L)		12,170
	5,986	6.03%, 09/25/2036 (L)		6,057
		Total asset & commercial mortgage backed securities (cost $384,259)	$	386,562
CORPORATE BONDS: INVESTMENT GRADE — 15.0%
		Capital Goods — 0.2%
		Pitney Bowes, Inc.
$	4,775	5.75%, 09/15/2017	$	4,827
		Xerox Corp.
	6,000	5.50%, 05/15/2012		6,100
				10,927
		Consumer Cyclical — 1.0%
		DaimlerChrysler NA Holdings Corp.
	5,400	5.88%, 03/15/2011		5,479
	9,550	6.50%, 11/15/2013		9,980
	4,600	8.50%, 01/18/2031		5,802
		Federated Retail Holdings, Inc.
	3,084	5.90%, 12/01/2016		2,904
		Lowe’s Co., Inc.
	6,475	6.65%, 09/15/2037		6,567
		SCL Term Aereo Santiago S.A.
	11,315	6.95%, 07/01/2012 (I)		11,835
		Target Corp.
	14,200	5.88%, 11/01/2008		14,332
		Wal-Mart Stores, Inc.
	15,000	6.88%, 08/10/2009		15,677
				72,576
		Consumer Staples — 1.2%
		Cargill, Inc.
	6,015	5.60%, 09/15/2012 (I)		6,114
		Coca-Cola Enterprises, Inc.
	6,500	6.75%, 09/15/2028		7,171
	500	8.50%, 02/01/2022		627
		Colgate-Palmolive Co.
	13,140	5.58%, 11/06/2008		13,243
		ConAgra Foods, Inc.
	6,537	7.88%, 09/15/2010		7,016
		Diageo Capital plc
	9,825	4.38%, 05/03/2010		9,798

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

­ ­  67  ­ ­

Hartford Advisers HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal			Market
Amount			Value (W)
CORPORATE BONDS: INVESTMENT GRADE — (continued)
		Consumer Staples — (continued)
		Kraft Foods, Inc.
$	12,275	6.25%, 06/01/2012	$	12,752
		PepsiAmericas, Inc.
	13,400	6.38%, 05/01/2009		13,809
		Procter & Gamble Co.
	12,180	9.36%, 01/01/2021		15,522
		Weyerhaeuser Co.
	2,975	7.38%, 03/15/2032		2,986
				89,038
		Energy — 0.2%
		Atmos Energy Corp.
	5,875	6.35%, 06/15/2017		5,965
		Weatherford International Ltd.
	11,000	5.95%, 06/15/2012 (I)		11,420
				17,385
		Finance — 7.7%
		Ace INA Holdings, Inc.
	16,800	5.88%, 06/15/2014		17,206
		American Express Centurion Bank
	12,670	6.00%, 09/13/2017		12,741
		American International Group, Inc.
	1,200	6.25%, 03/15/2037		1,073
		AXA Financial, Inc.
	15,000	7.00%, 04/01/2028		16,606
		Bank of America Corp.
	20,000	5.88%, 02/15/2009		20,287
		Bank of New York Mellon Corp.
	6,345	4.95%, 11/01/2012		6,345
		BB&T Corp.
	4,830	4.90%, 06/30/2017		4,460
		Berkshire Hathaway Finance Corp.
	10,500	4.85%, 01/15/2015		10,516
		Brandywine Operating Partnership
	9,585	6.00%, 04/01/2016		9,183
		Capital One Bank
	3,750	6.50%, 06/13/2013		3,678
		Capital One Capital IV
	4,125	6.75%, 02/17/2037		3,067
		Capital One Financial Corp.
	3,900	5.70%, 09/15/2011		3,768
		Cincinnati Financial Corp.
	10,000	6.92%, 05/15/2028		10,570
		CIT Group, Inc.
	5,995	7.63%, 11/30/2012		6,077
		Citigroup, Inc.
	6,500	3.63%, 02/09/2009		6,413
	8,800	6.00%, 10/31/2033		8,149
	1,000	6.50%, 01/18/2011		1,044
		Credit Suisse First Boston USA, Inc.
	8,920	4.88%, 01/15/2015		8,720
		Developers Diversified Realty Corp.
	7,900	5.38%, 10/15/2012		7,680
		Discover Financial Services, Inc.
	7,220	6.45%, 06/12/2017 (I)		6,952
		Eaton Vance Corp.
	3,180	6.50%, 10/02/2017		3,336
		ERAC USA Finance Co.
	16,355	7.35%, 06/15/2008 (I)		16,495
		Everest Reinsurance Holdings, Inc.
	4,525	5.40%, 10/15/2014		4,580
		General Electric Capital Corp.
	12,000	6.75%, 03/15/2032		13,625
		Genworth Financial, Inc.
	8,000	6.15%, 11/15/2066		7,268
		Goldman Sachs Group, Inc.
	11,000	5.30%, 02/14/2012		11,125
	6,000	5.63%, 01/15/2017		5,859
	8,000	6.45%, 05/01/2036		7,516
		Health Care Property Investors, Inc.
	9,780	6.00%, 01/30/2017		9,210
		HSBC Bank USA
	11,550	3.88%, 09/15/2009		11,442
		HSBC Finance Corp.
	12,500	5.50%, 01/19/2016		12,199
		International Lease Finance Corp.
	10,500	5.00%, 09/15/2012		10,345
	6,350	5.63%, 09/15/2010		6,446
		Jackson National Life Insurance Co.
	12,650	8.15%, 03/15/2027 (I)		15,621
		John Deere Capital Corp.
	8,320	4.88%, 10/15/2010		8,457
		JP Morgan Chase & Co.
	14,375	5.13%, 09/15/2014		14,090
		KeyCorp Capital II
	750	6.88%, 03/17/2029		747
		Kimco Realty Corp.
	7,880	5.78%, 03/15/2016		7,608
		Lehman Brothers Holdings, Inc.
	11,000	5.25%, 02/06/2012		10,884
		Liberty Mutual Group, Inc.
	8,750	5.75%, 03/15/2014 (I)		8,911	��
		Liberty Property L.P.
	1,325	6.63%, 10/01/2017		1,326
		Merrill Lynch & Co., Inc.
	11,000	5.00%, 02/03/2014		10,493
	6,000	6.40%, 08/28/2017		6,096
		Morgan Stanley
	13,000	5.38%, 10/15/2015		12,638
	6,000	5.45%, 01/09/2017		5,820
		National City Corp.
	4,250	6.88%, 05/15/2019		4,354
		New England Mutual Life Insurance Co.
	30,000	7.88%, 02/15/2024 (I)		35,302
		Prologis Trust
	6,500	5.63%, 11/15/2016		6,028
		Prudential Financial, Inc.
	11,000	5.50%, 03/15/2016		10,913
	3,500	5.80%, 06/15/2012		3,587
		Realty Income Corp.
	4,830	6.75%, 08/15/2019		4,983
		Regions Bank
	10,000	6.45%, 06/26/2037		9,133
		Republic New York Capital I
	500	7.75%, 11/15/2026		493
		Santander Central Hispano Issuances Ltd.
	1,250	7.63%, 11/03/2009		1,316
		Simon Property Group L.P.
	15,100	6.10%, 05/01/2016		14,924

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

­ ­  68  ­ ­

Principal			Market
Amount			Value (W)
CORPORATE BONDS: INVESTMENT GRADE — (continued)
		Finance — (continued)
		Sovereign Capital Trust IV
$	7,250	7.91%, 06/13/2036	$	7,008
		Torchmark Corp.
	14,600	8.25%, 08/15/2009		15,427
		Toyota Motor Credit Corp.
	9,000	5.50%, 12/15/2008		8,979
		U.S. Bank NA
	21,400	4.95%, 10/30/2014		20,868
		UnitedHealth Group, Inc.
	5,500	4.75%, 02/10/2014		5,305
	2,500	5.50%, 11/15/2012 (I)		2,537
		Wachovia Corp.
	10,000	5.25%, 08/01/2014		9,777
		Wells Fargo Bank NA
	13,000	4.75%, 02/09/2015		12,417
	1,000	6.45%, 02/01/2011		1,058
		Willis North America, Inc.
	2,760	5.63%, 07/15/2015		2,689
	2,910	6.20%, 03/28/2017		2,904
				566,674
		Health Care — 0.6%
		AstraZeneca plc
	6,330	5.40%, 09/15/2012		6,544
		Becton, Dickinson & Co.
	9,000	6.70%, 08/01/2028		9,508
		CVS Corp.
	7,725	6.13%, 08/15/2016		7,929
		Schering-Plough Corp.
	9,000	5.55%, 12/01/2013		9,106
		Wyeth
	8,000	7.25%, 03/01/2023		8,847
				41,934
		Services — 0.6%
		COX Communications, Inc.
	9,000	5.45%, 12/15/2014		8,820
		FedEx Corp.
	15,000	3.50%, 04/01/2009		14,758
		Time Warner, Inc.
	5,530	5.50%, 11/15/2011		5,553
		Viacom, Inc.
	15,020	6.88%, 04/30/2036		15,061
		Wyndham Worldwide Corp.
	3,100	6.00%, 12/01/2016		2,940
				47,132
		Technology — 2.1%
		AT&T, Inc.
	9,510	6.80%, 05/15/2036		10,291
		BellSouth Corp.
	8,960	6.55%, 06/15/2034		9,267
		Bellsouth Telecommunications
	10,000	6.38%, 06/01/2028		10,128
	650	7.00%, 12/01/2095		678
		Comcast Cable Communications, Inc.
	15,000	6.88%, 06/15/2009		15,429
		Deutsche Telekom International Finance B.V.
	8,500	8.25%, 06/15/2030		10,606
		Fiserv, Inc.
	6,400	6.13%, 11/20/2012		6,514
		General Electric Co.
	12,925	5.00%, 02/01/2013		13,089
		Hewlett-Packard Co.
	6,000	5.25%, 03/01/2012		6,146
		Intuit, Inc.
	7,900	5.40%, 03/15/2012		8,024
		SBC Communications
	4,825	6.45%, 06/15/2034		4,973
		Siemens Finance
	14,325	5.75%, 10/17/2016 (I)		14,606
		Sprint Capital Corp.
	3,370	8.75%, 03/15/2032		3,799
		Telecom Italia Capital
	15,000	5.25%, 10/01/2015		14,614
		Time Warner Cable, Inc.
	4,580	5.85%, 05/01/2017		4,591
		Verizon Communications, Inc.
	5,000	5.35%, 02/15/2011		5,122
		Verizon Global Funding Corp.
	500	7.25%, 12/01/2010		536
	14,500	7.75%, 12/01/2030		17,006
				155,419
		Transportation — 0.2%
		Continental Airlines, Inc.
	4,140	5.98%, 04/19/2022		3,869
		Southwest Airlines Co.
	8,700	5.75%, 12/15/2016		8,679
	3,510	6.15%, 08/01/2022		3,524
				16,072
		Utilities — 1.2%
		Consolidated Edison Co. of New York
	4,605	5.30%, 12/01/2016		4,530
		Enel Finance International
	4,045	6.80%, 09/15/2037 (I)		4,064
		Indianapolis Power and Light
	8,000	6.60%, 06/01/2037 (I)		8,416
		Kinder Morgan Energy Partners L.P.
	10,000	6.95%, 01/15/2038		10,495
		MidAmerican Energy Co.
	6,000	5.65%, 07/15/2012		6,218
		MidAmerican Energy Holdings Co.
	7,800	6.13%, 04/01/2036		7,781
		Northern Border Pipeline Co.
	17,285	7.75%, 09/01/2009		18,125
		Northern States Power Co.
	11,750	6.20%, 07/01/2037		12,136
		Southern California Edison Co.
	8,000	5.55%, 01/15/2037		7,547
		Taqa Abu Dhabi National Energy
	3,200	5.62%, 10/25/2012 (I)		3,248
	3,335	5.88%, 10/27/2016 (I)		3,266
		TransCanada Pipelines Ltd.
	750	6.49%, 01/21/2009		760
				86,586
		Total corporate bonds: investment grade (cost $1,090,559)	$	1,103,743

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

­ ­  69  ­ ­

Hartford Advisers HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal			Market
Amount			Value (W)
CORPORATE BONDS: NON-INVESTMENT GRADE — 0.1%
		Services — 0.1%
		Times Mirror Co.
$	10,400	7.50%, 07/01/2023	$	5,969
		Total corporate bonds: non-investment grade (cost $11,122)	$	5,969
MUNICIPAL BONDS — 0.3%
		General Obligations — 0.3%
		Oregon School Boards Association, Taxable Pension
$	10,000	4.76%, 06/30/2028	$	9,198
		State of Illinois, Taxable Pension
	10,000	5.10%, 06/01/2033		9,713
		Total municipal bonds (cost $19,889)	$	18,911
U.S. GOVERNMENT AGENCIES — 4.5%
		Federal Home Loan Mortgage Corporation — 0.7%
		Mortgage Backed Securities:
$	48,731	6.50%, 2035 — 2036	$	50,104
		Remic — Pac’s:
	4,425	2.50%, 2013		4,379
				54,483
		Federal National Mortgage Association — 2.0%
		Mortgage Backed Securities:
	25,830	5.50%, 2036 — 2037		25,802
	119,980	6.00%, 2037		121,853
	116	6.50%, 2036		119
				147,774
		Government National Mortgage Association — 1.2%
		Mortgage Backed Securities:
	61,157	5.50%, 2036 — 2037 (G)		61,602
	8,798	6.00%, 2024 — 2035		9,036
	3,144	6.50%, 2026 — 2035		3,265
	11,479	7.00%, 2031 — 2033		12,152
	1,808	8.00%, 2026 — 2031		1,957
	172	9.00%, 2016 — 2023		186
		Remic — Pac’s:
	107	7.50%, 2035		112
				88,310
		Other Government Agencies — 0.6%
		Small Business Administration Participation Certificates:
	33,917	8.95%, 2022		43,227
		Total U.S. government agencies (cost $324,750)	$	333,794
U.S. GOVERNMENT SECURITIES — 7.8%
		Other Direct Federal Obligations — 2.7%
		Federal Financing Corporation:
$	17,617	4.40%, 2013	$	13,915
		Federal Home Loan Bank:
	61,000	4.88%, 2011 (G)		63,297
		Tennessee Valley Authority:
	64,300	4.38%, 2015		64,384
	50,000	6.00%, 2013		54,356
				118,740
				195,952
		U.S. Treasury Securities — 5.1%
		U.S. Treasury Bonds:
	25,200	5.38%, 2031		28,392
	38,650	6.25%, 2023 (G)		46,274
				74,666
		U.S. Treasury Notes:
	171,300	3.50%, 2010 (G)		172,785
	84,225	3.88%, 2010 (G)		85,936
	13,000	4.50%, 2017 (G)		13,474
	6,425	4.63%, 2016 (G)		6,729
	25,000	4.75%, 2012 (G)		26,385
				305,309
				379,975
		Total U.S. government securities (cost $555,001)	$	575,927
		Total long-term investments (cost $7,138,097)	$	7,246,374
SHORT-TERM INVESTMENTS — 10.6%
		Repurchase Agreements — 0.3%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $5,656, collateralized by FNMA 5.00%, 2035, value of $5,768)
$	5,655	4.50% dated 12/31/2007	$	5,655
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $51, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $52)
	51	1.35% dated 12/31/2007		51
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $15,740, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $16,051)
	15,736	4.75% dated 12/31/2007		15,736
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $2,220, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $2,264)
	2,219	4.60% dated 12/31/2007		2,219
				23,661

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

­ ­  70  ­ ­

					Market
Shares					Value (W)
SHORT-TERM INVESTMENTS — (continued)
		Securities Purchased with Proceeds from Security Lending — 10.3%
		Cash Collateral Reinvestment Fund:
	755,680	Goldman Sachs FS Prime Obligation/Institutional Fund			$	755,680
		Total short-term investments (cost $779,341)			$	779,341
		Total investments (cost $7,917,438) (C)	108.9	%	$	8,025,715
		Other assets and liabilities	(8.9	)%		(654,241	)
		Total net assets	100.0	%	$	7,371,474

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 11.29% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $7,956,971 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	480,851
Unrealized Depreciation		(412,107	)
Net Unrealized Appreciation	$	68,744

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $220,841, which represents 3.00% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $161,854, which represents 2.20% of total net assets.
(L)	Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2007.
(H)	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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.	$	11,253

The aggregate value of these securities at December 31, 2007 was $10,117 which represents 0.14% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Euro (Sell)	$	245,224	$	245,781		03/03/08	$	557
Japanese Yen (Sell)		4,673		4,559		01/07/08		(114	)
Japanese Yen (Sell)		3,681		3,643		01/08/08		(38	)
							$	405

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  71  ­ ­

Hartford Capital Appreciation HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 92.0%
		Basic Materials — 16.3%
	46	Agnico Eagle Mines Ltd.	$	2,513
	133	Agrium, Inc.		9,575
	139	Alcoa, Inc.		5,069
	273	Antofagasta (A)		3,864
	1,033	Aracruz Celulose S.A. ADR (G)		76,824
	43	ArcelorMittal		3,364
	205	Arch Coal, Inc. (G)		9,197
	1,200	BHP Billiton Ltd. ADR (G)		84,048
	5,123	Cameco Corp. (G)		203,951
	54	Celanese Corp.		2,266
	30	CF Industries Holdings, Inc. (G)		3,280
	241	Chemtura Corp.		1,877
	32	Church & Dwight Co., Inc.		1,752
	50	Cleveland-Cliffs, Inc. (G)		5,040
	9,192	Companhia Vale do Rio Doce ADR (G)		300,289
	1,442	Consol Energy, Inc.		103,117
	39	Cytec Industries, Inc.		2,414
	2,440	Dow Chemical Co. (G)		96,182
	79	Evraz Group S.A.		6,088
	26	FMC Corp.		1,435
	53	Foundation Coal Holdings, Inc.		2,782
	2,279	Freeport McMoRan Copper & Gold, Inc.		233,500
	65	Greif, Inc. (G)		4,256
	786	Holcim Ltd. (A)		83,773
	144	Impala Platinum Holdings Ltd. (A)(Q)		4,997
	591	Lihir Gold Ltd. (A)(D)		1,839
	109	Lihir Gold Ltd. ADR		3,393
	26	MMX Mineracao E Metalicos S.A. (D)		13,677
	30	Outotec Oyj (A)(D)		1,622
	86	Owens-Illinois, Inc. (D)		4,272
	531	Paladin Resources Ltd. (A)(D)		3,103
	242	Potash Corp. of Saskatchewan		34,795
	2,924	Praxair, Inc.		259,399
	252	Rexam plc (A)		2,096
	193	Smurfit-Stone Container Corp. (D)(G)		2,040
	50	Steel Dynamics, Inc.		2,990
	1,800	Teck Cominco Ltd. Class B		64,617
	54	Ternium S.A. ADR		2,170
	151	Timminco LTD. (D)		3,367
	95	TMK OAO GDR (I)		4,136
	187	Ube Industries, Ltd. (A)		632
	2,266	United States Steel Corp.		273,946
	169	Uralkali (D)(I)		6,301
	6,034	Uranium One, Inc. (D)		53,982
	122	Uranium Participation Corp. (D)		1,295
	712	USEC, Inc. (D)(G)		6,411
	5,500	Vedanta Resources plc (A)		223,141
	3,345	Xstrata plc (A)		234,748
				2,455,425
		Capital Goods — 4.7%
	32	Alliant Techsystems, Inc. (D)(G)		3,652
	9	Alstom RGPT (A)		1,948
	1,200	Atlas Copco AB (A)		17,836
	2,680	Boeing Co. (G)		234,332
	112	Caterpillar, Inc. (G)		8,105
	32	Chart Industries Inc. (D)		995
	1,070	Cummins, Inc.		136,286
	134	Deere & Co.		12,450
	87	Flowserve Corp.		8,321
	45	Gamesa Corporacion Tecnologica S.A. (A)		2,059
	50	Goodrich Corp.		3,559
	6,464	Hansen Transmissions (D)		37,061
	128	Honeywell International, Inc.		7,850
	1,752	ITT Corp.		115,669
	167	Kennametal, Inc.		6,319
	50	Manitowoc Co., Inc. (G)		2,417
	200	Marvel Entertainment, Inc. (D)(G)		5,355
	121	Northrop Grumman Corp.		9,508
	119	Parker-Hannifin Corp.		8,984
	1,032	Rockwell Automation, Inc.		71,194
	62	Smith International, Inc.		4,593
	51	Spirit Aerosystems Holdings, Inc. (D)		1,756
	180	Trina Solar Ltd. ADR (D)(G)		9,700
				709,949
		Consumer Cyclical — 6.7%
	3	Aker ASA (A)		214
	177	Aker Kvaerner (A)		4,668
	332	Altria Group, Inc.		25,100
	66	American Axle & Manufacturing Holdings, Inc. (G)		1,221
	549	American Eagle Outfitters, Inc.		11,395
	465	Ariba, Inc. (D)(G)		5,189
	6,682	Bosideng International Holdings Ltd. (D)		2,142
	29,056	Buck Holdings L.P. (A)(D)(H)		26,150
	247	Bulgari S.p.A. (A)		3,474
	3,317	China Communications Construction Co., Ltd. (A)		8,575
	978	Chow Sang Sang Holdings (A)		1,681
	145	Circuit City Stores, Inc. (G)		608
	65	Copart, Inc. (D)		2,774
	54	Costco Wholesale Corp.		3,774
	38	Dick’s Sporting Goods, Inc. (D)		1,060
	28,514	Ford Motor Co. (D)(G)		191,899
	102	GameStop Corp. Class A (D)		6,335
	215	Home Depot, Inc.		5,803
	190	Kohl’s Corp. (D)		8,684
	3,671	Limited Brands, Inc. (G)		69,490
	2,876	Liz Claiborne, Inc. (G)		58,527
	3,916	Lowe’s Cos., Inc. (G)		88,594
	4,293	Macy’s, Inc. (G)		111,060
	69	MDC Holdings, Inc.		2,555
	3,444	Newell Rubbermaid, Inc.		89,138
	3	Nintendo Co., Ltd. (A)		1,938
	48	Sotheby’s (G)		1,819
	147	Tata Motors Ltd. ADR (G)		2,774
	486	Tesco plc (A)		4,625
	5,227	TJX Cos., Inc. (G)		150,160
	1,800	Toyota Motor Corp. (A)		95,866
	238	TRW Automotive Holdings Corp. (D)		4,974
	73	UbiSoft Entertainment S.A. (A)(D)		7,440
	11	Under Armour, Inc. Class A (D)(G)		476
				1,000,182
		Consumer Staples — 1.5%
	133	Avon Products, Inc.		5,273
	93	Bunge Ltd. Finance Corp. (G)		10,881
	126	Chaoda Modern Agriculture (A)		113
	1,530	China Resources Enterprise (A)		6,497

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

­ ­  72  ­ ­

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Consumer Staples — (continued)
	3,002	Cosan Ltd. (D)(G)	$	37,818
	3,572	Cosan S.A. Industria E Comercio		41,746
	204	Dean Foods Co.		5,265
	88	Hansen National Corp. (D)		3,880
	253	Imperial Tobacco Group plc (A)		13,678
	52	Lighthouse Caledonia ASA (D)		50
	6,810	Marine Harvest (A)(D)(Q)		4,342
	131	Nestle S.A. (A)		59,979
	288	PepsiCo, Inc.		21,867
	162	Unilever N.V. NY Shares		5,914
				217,303
		Energy — 10.9%
	76	Aegean Marine Petroleum Network		2,929
	103	Apache Corp.		11,034
	338	Brasil EcoDiesel Industria (D)		1,307
	148	Canadian Natural Resources Ltd.		10,869
	2,463	Chesapeake Energy Corp. (G)		96,541
	45	Chevron Corp.		4,228
	40	Cie Gen Geophysique — SP ADR (D)		2,253
	38	ConocoPhillips Holding Co.		3,329
	86	Diamond Offshore Drilling, Inc. (G)		12,226
	87	EOG Resources, Inc.		7,738
	205	Exxon Mobil Corp.		19,225
	3,100	First Resources Ltd. (D)		2,671
	7,293	Halliburton Co. (G)		276,495
	7	Hercules Offshore, Inc. (D)		159
	30	Holly Corp.		1,522
	738	Lundin Petroleum Ab (A)(D)		7,665
	2	Nabors Industries Ltd. (D)		59
	149	Newfield Exploration Co. (D)(G)		7,873
	74	Noble Energy, Inc.		5,900
	2,649	OAO Gazprom ADR		150,212
	1,485	OMV AG (A)		119,845
	74	Penn Virginia Corp. (G)		3,216
	69	Petro-Canada		3,744
	1,349	Petroleo Brasileiro S.A. ADR		155,528
	4,362	Pride International, Inc. (D)(G)		147,862
	141	Seadrill Ltd. (A)(D)		3,401
	117	Sevan Marine ASA (A)(D)		1,753
	220	Talisman Energy, Inc.		4,065
	82	Tesoro Corp.		3,921
	98	Total S.A. ADR		8,078
	844	Transocean, Inc. (G)		120,913
	44	UGI Corp.		1,191
	1,041	Valero Energy Corp. (G)		72,923
	2,389	Weatherford International Ltd. (D)(G)		163,855
	97	Woodside Petroleum — SP		4,275
	4,004	XTO Energy, Inc.		205,638
				1,644,443
		Finance — 17.3%
	4,859	ACE Ltd.		300,183
	224	Aercap Holdings N.V. (D)		4,679
	82	Aetna, Inc.		4,751
	70	Affiliated Managers Group, Inc. (D)(G)		8,246
	17,000	Akbank T.A.S. (A)		125,558
	268	Alternative Asset Management Acquisition Corp. (D)		2,789
	375	AMBAC Financial Group, Inc. (G)		9,656
	4,051	American International Group, Inc.		236,162
	209	Augsburg Re AG (A)(D)(H)		—
	32	Axis Capital Holdings Ltd.		1,242
	1,647	Babcock and Brown Wind Partners (A)		2,442
	110	Banco Bradesco S.A.		3,504
	82	Banco Itau Holding Financeira S.A.		2,120
	498	Bank of America Corp.		20,537
	255,289	Bank of China Ltd. (A)		122,139
	322	Bolsa De Mercadorias e Futuros (D)		4,518
	80	Bovespa Holding S.A. (D)		1,542
	1,968	Capital One Financial Corp. (G)		93,003
	1,921	China Merchants Bank Co., Ltd. (A)		7,729
	1,908	CIT Group, Inc. (G)		45,860
	7,350	Citigroup, Inc. (G)		216,399
	19	CME Group, Inc.		13,171
	771	Countrywide Financial Corp. (G)		6,888
	215	Covanta Holding Corp. (D)		5,950
	615	Deutsche Boerse AG (A)		121,381
	3,990	Discover Financial Services		60,170
	52	Dollar Financial Corp. (D)(G)		1,593
	624	E*Trade Financial Corp. (D)(G)		2,214
	1,935	Eurocastle Investment Ltd. (A)		47,348
	4,400	European Capital Ltd.		44,870
	82	Everest Re Group Ltd.		8,223
	84	Federal Home Loan Mortgage Corp.		2,872
	2,363	Federal National Mortgage Association		94,467
	216	Genesis Lease Ltd.		4,058
	141	GLG Partners, Inc. (D)(G)		1,923
	1,064	Goldman Sachs Group, Inc. (G)		228,727
	278	Invesco Ltd. (G)		8,724
	270	JP Morgan Chase & Co.		11,803
	3,166	Julius Baer Holding Ltd. (A)		259,743
	172	Lehman Brothers Holdings, Inc. (G)		11,256
	485	Mastercard, Inc. (G)		104,458
	379	MBIA, Inc. (G)		7,056
	67	Merrill Lynch & Co., Inc.		3,570
	141	MF Global Ltd. (D)		4,428
	182	MGIC Investment Corp. (G)		4,078
	116	Morgan Stanley		6,150
	129	Oaktree Capital (D)(I)		4,192
	260	PennantPark Investment Corp.		2,604
	61	Platinum Underwriters Holdings Ltd.		2,166
	4	PMI Group, Inc. (G)		56
	106	PNC Financial Services Group, Inc.		6,945
	1,039	Royal Bank of Scotland Group plc (A)		9,171
	13,092	Shun Tak Holdings Ltd. (A)		20,463
	3,136	Standard Chartered plc (A)		114,465
	93	State Street Corp.		7,571
	139	TD Ameritrade Holding Corp. (D)(G)		2,788
	88	Thornburg Mortgage Asset Corp. (G)		811
	366	UBS AG		16,820
	878	UniCredito Italiano S.p.A. (A)		7,225
	284	Washington Mutual, Inc.		3,871
	1,520	Wellpoint, Inc. (D)		133,314
				2,610,642
		Health Care — 8.5%
	129	Abbott Laboratories		7,255
	224	Alkermes, Inc. (D)(G)		3,490
	1,632	Amgen, Inc. (D)		75,804
	240	Amylin Pharmaceuticals, Inc. (D)(G)		8,869

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

­ ­  73  ­ ­

Hartford Capital Appreciation HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Health Care — (continued)
	601	Arena Pharmaceuticals, Inc. (D)(G)	$	4,707
	43	Astellas Pharma, Inc. (A)		1,852
	486	Bristol-Myers Squibb Co.		12,889
	77	Cardinal Health, Inc.		4,458
	84	Charles River Laboratories International, Inc. (D)(G)		5,521
	125	Cie Generale d’Optique Essilor International S.A. (A)(D)		7,979
	159	Cooper Co., Inc. (G)		6,038
	133	Coventry Health Care, Inc. (D)		7,904
	49	Covidien Ltd.		2,170
	3,295	CVS/Caremark Corp. (G)		130,984
	99	Eisai Co., Ltd. (A)		3,886
	1,177	Elan Corp. plc ADR (D)(G)		25,879
	312	Eli Lilly & Co.		16,668
	107	Emergency Medical Services (D)(G)		3,142
	123	Forest Laboratories, Inc. (D)		4,498
	400	Genentech, Inc. (D)		26,815
	69	Genzyme Corp. (D)		5,166
	1,119	Hengan International Group Co., Ltd. (A)		4,974
	315	Impax Laboratories, Inc. (D)(G)		3,496
	245	McKesson Corp.		16,037
	3,500	Medtronic, Inc. (G)		175,945
	310	Merck & Co., Inc.		18,014
	2,276	Novavax, Inc. (D)(G)		7,578
	153	Pharmaceutical Product Development, Inc.		6,185
	739	Sanofi-Aventis S.A. (A)		67,617
	175	Sanofi-Aventis S.A. ADR		7,948
	133	Savient Pharmaceuticals, Inc. (D)		3,048
	9,966	Schering-Plough Corp.		265,487
	416	Shionogi & Co., Ltd. (A)		7,382
	2,505	Teva Pharmaceutical Industries Ltd. ADR (G)		116,437
	101	UCB S.A. (A)		4,590
	93	Vertex Pharmaceuticals, Inc. (D)		2,165
	4,688	Wyeth		207,172
				1,280,049
		Services — 2.9%
	60	Accenture Ltd. Class A		2,147
	9	Allied Waste Industries, Inc. (D)		95
	199	Avis Budget Group, Inc. (D)		2,580
	289	Bare Escentuals, Inc. (D)		7,006
	368	BearingPoint, Inc. (D)(G)		1,041
	99	CACI International, Inc. Class A (D)(G)		4,410
	2,395	Cadence Design Systems, Inc. (D)(G)		40,741
	622	Comcast Corp. Class A (D)(G)		11,350
	604	Comcast Corp. Special Class A (D)(G)		10,943
	231	Corrections Corp. of America (D)		6,829
	475	DreamWorks Animation SKG, Inc. (D)(G)		12,143
	75	Entercom Communications Corp.		1,032
	1,511	Focus Media Holding Ltd. ADR (D)(G)		85,811
	133	Giant Interactive Group, Inc. (D)(G)		1,729
	30	Harvey Weinstein Master L.P. (A)(D)(H)		26,234
	135	Iron Mountain, Inc. (D)(G)		4,979
	22	ITT Educational Services, Inc. (D)		1,901
	33	Jacobs Engineering Group, Inc. (D)		3,184
	697	JumpTV, Inc. (D)		1,595
	322	Live Nation, Inc. (D)(G)		4,675
	96	Manpower, Inc. (G)		5,445
	25	McGraw-Hill Cos., Inc.		1,100
	124	Monster Worldwide, Inc. (D)(G)		4,018
	4,500	News Corp. Class A		92,205
	149	Perfect World Co., Ltd. ADR (D)		4,151
	116	R.H. Donnelley Corp. (D)(G)		4,239
	6,512	Shangri-La Asia Ltd. (A)		20,254
	2,844	Sun Microsystems, Inc. (D)(G)		51,567
	91	United Parcel Service, Inc. Class B		6,414
	500	Walt Disney Co.		16,140
	235	XM Satellite Radio Holdings, Inc. Class A (D)(G)		2,881
				438,839
		Technology — 21.4%
	2,337	Altera Corp. (G)		45,153
	3,054	Amdocs Ltd. (D)		105,254
	42	Apple, Inc. (D)(G)		8,339
	11,756	Applied Materials, Inc. (G)		208,781
	42	Arris Group, Inc. (D)(G)		414
	107	Arrow Electronics, Inc. (D)		4,215
	174	ASML Holding N.V. (A)		5,509
	5	ASML Holding N.V. ADR		163
	3,094	AT&T, Inc. #		128,598
	234	BEA Systems, Inc. (D)		3,693
	145	BMC Software, Inc. (D)		5,179
	40	Brasil Telecom S.A. ADR (G)		1,211
	90	Broadcom Corp. Class A (D)		2,353
	105	Canon, Inc. (A)(Q)		4,796
	7,103	Cisco Systems, Inc. (D)		192,294
	6	Clearwire Corp. (D)(G)		80
	663	CMGI, Inc. (D)(G)		8,679
	794	Cognex Corp. (G)		15,999
	451	Corning, Inc.		10,814
	31	Ctrip.com International Ltd.		1,787
	84	Danaher Corp. (G)		7,353
	340	EMC Corp. (D)		6,293
	151	Emerson Electric Co.		8,533
	170	Emulex Corp. (D)		2,766
	531	Energy Focus, Inc. (D)		3,846
	82	Equinix, Inc. (D)(G)		8,318
	522	Evergreen Solar, Inc. (D)(G)		9,008
	148	Fairchild Semiconductor International, Inc. (D)(G)		2,133
	863	Flextronics International Ltd. (D)		10,410
	120	FLIR Systems, Inc. (D)		3,756
	6,475	General Electric Co. (G)		239,997
	542	Google, Inc. (D)		374,647
	4,828	Hewlett-Packard Co.		243,734
	134	Hologic, Inc. (D)(G)		9,163
	19,743	Hon Hai Precision Industry Co., Ltd. (A)		121,686
	2,787	Intel Corp.		74,291
	2,488	International Business Machines Corp. (G)		268,856
	—	International Rectifier Corp. (D)(G)		14
	78	JA Solar Holdings Co., Ltd. ADR (D)		5,459
	379	JDS Uniphase Corp. (D)(G)		5,039
	177	Koninklijke Philips Electronics N.V. (A)		7,580
	236	LAM Research Corp. (D)(G)		10,198
	70	LDK Solar Co., Ltd (D)		3,277
	125	Leap Wireless International, Inc. (D)(G)		5,849
	44	Logitech International S.A. (A)(D)		1,610

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

­ ­  74  ­ ­

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Technology — (continued)
	257	Maxim Integrated Products, Inc.	$	6,805
	2,634	McAfee, Inc. (D)		98,790
	1,542	Megacable Holdings — CPO (D)		5,237
	96	MEMC Electronic Materials, Inc. (D)		8,486
	476	MetroPCS Communications, Inc. (D)(G)		9,256
	1,940	Microsoft Corp. (G)		69,060
	363	Mitsubishi Electric Corp. (A)		3,760
	5,725	MTN Group Ltd. (A)		107,230
	260	Network Appliance, Inc. (D)		6,497
	24	Nokia Corp.		914
	343	Nokia Oyj (A)		13,160
	1,242	Nortel Networks Corp. (D)(G)		18,740
	44	NVIDIA Corp. (D)(G)		1,495
	207	O2Micro International Ltd. ADR (D)		2,387
	11,632	Oracle Corp. (D)(G)		262,653
	1,224	Orascom Telecom Holding SAE GDR		101,609
	4,061	Qualcomm, Inc.		159,796
	1,116	Raytheon Co. (G)		67,753
	28	Red Hat, Inc. (D)(G)		575
	27	Research In Motion Ltd. (D)		3,028
	123	Rockwell Collins, Inc.		8,845
	46	Roper Industries, Inc.		2,877
	77	SanDisk Corp. (D)		2,557
	242	SAVVIS, Inc. (D)(G)		6,746
	74	Shanda Interactive Entertainment Ltd. (D)		2,474
	75	Solar Cayman Ltd. (A)(D)(H)		1,029
	188	Sonus Networks, Inc. (D)(G)		1,094
	160	Sprint Nextel Corp. (G)		2,094
	37	Starent Networks Corp. (D)		677
	229	Symantec Corp. (D)(G)		3,698
	446	Telecity Group plc (D)		2,663
	1,721	Telefonaktiebolaget LM Ericsson (A)		4,028
	211	Telefonaktiebolaget LM Ericsson ADR		4,929
	70	Telefonica S.A. ADR		6,870
	151	Thomas & Betts Corp. (D)(G)		7,385
	165	THQ, Inc. (D)(G)		4,653
	100	Turkcell Iletisim Hizmetleri ADR		2,765
	132	VeriSign, Inc. (D)(G)		4,950
	147	Virgin Media, Inc.		2,520
	207	Vodafone Group plc ADR (G)		7,707
	39	Whirlpool Corp. (G)		3,175
				3,218,094
		Transportation — 0.9%
	561	All America Latina Logistica S.A.		7,255
	972	Burlington Northern Santa Fe Corp. (G)		80,883
	350	Delta Air Lines, Inc. (D)(G)		5,213
	65	Frontline Ltd. (A)		3,104
	45	Frontline Ltd. ADR		2,160
	78	General Dynamics Corp.		6,977
	176	Grupo Aeroportuario Del ADR		4,426
	62	Kirby Corp. (D)		2,900
	935	Northwest Airlines Corp. (D)		13,567
	55	UAL Corp. (D)(G)		1,965
	334	US Airways Group, Inc. (D)		4,913
				133,363
		Utilities — 0.9%
	199	American Electric Power Co., Inc.		9,245
	246	Exelon Corp.		20,051
	10,135	Iberdrola Renovables (D)		83,716
	71	Sunpower Corp. (D)(G)		9,206
	214	Suntech Power Holdings Co., Ltd. ADR (D)(G)		17,647
				139,865
		Total common stock (cost $12,157,698)	$	13,848,154
WARRANTS — 1.1%
		Basic Materials — 0.5%
	3,053	TATA Steel Ltd. (H)(Q)	$	72,465
		Utilities — 0.6%
	2,031	Suzlon Energy, Ltd. Acc (D)(H)		99,781
		Total warrants (cost $147,056)	$	172,246
EXCHANGE TRADED FUNDS — 1.7%
		Finance — 1.7%
	2,407	Powershares QQQ	$	123,335
	846	S & P 500 Depositary Receipt		123,752
	41	S & P Mid-Cap 400 Depositary Receipts (G)		6,359
		Total exchange traded funds (cost $257,599)	$	253,446
PREFERRED STOCK — 0.0%
		Finance — 0.0%
	87	Thornburg Mortgage, Inc. (X)	$	2,084
		Total preferred stock (cost $2,174)	$	2,084
Principal
Amount (B)
CORPORATE BONDS: INVESTMENT GRADE — 0.2%
		Finance — 0.2%
		Augsburg Re AG
GBP	412	0.00%, 12/31/2049 (A)(H)(X)		135
		UBS Luxembourg S.A.
$	26,500	6.23%, 02/11/2015		26,261
		Total corporate bonds: investment grade (cost $27,552)	$	26,396
		Total long-term investments (cost $12,592,079)	$	14,302,326
SHORT-TERM INVESTMENTS — 12.7%
		Repurchase Agreements — 5.0%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $178,686, collateralized by FNMA 5.00%, 2035, value of $182,213)
$	178,640	4.50% dated 12/31/2007	$	178,640

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

­ ­  75  ­ ­

Hartford Capital Appreciation HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal					Market
Amount					Value (W)
SHORT-TERM INVESTMENTS — (continued)
		Repurchase Agreements — (continued)
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,610, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $1,643)
$	1,609	1.35% dated 12/31/2007			$	1,609
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $497,263, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $507,077)
	497,134	4.75% dated 12/31/2007				497,134
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $70,132, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $71,516)
	70,114	4.60% dated 12/31/2007				70,114
						747,497
Shares
		Securities Purchased with Proceeds from Security Lending — 7.7%
		Cash Collateral Reinvestment Fund:
	1,166,436	Mellon GSL DBT II Collateral Fund (H)				1,166,436
		Total short-term investments (cost $1,913,933)			$	1,913,933
		Total investments (cost $14,506,012) (C)	107.7	%	$	16,216,259
		Other assets and liabilities	(7.7	)%		(1,158,520	)
		Total net assets	100.0	%	$	15,057,739

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 28.63% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $14,549,642 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	2,443,056
Unrealized Depreciation		(776,439	)
Net Unrealized Appreciation	$	1,666,617

#	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $2,209,621, which represents 14.67% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $14,629, which represents 0.10% of total net assets.
(Q)	The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2007 was $4,431.
(X)	Convertible security.
(B)	All principal amounts are in U.S. dollars unless otherwise indicated.

GBP — British Pound

(H) The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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
06/2006		412	Augsburg Re AG, 0.00%, 12/31/2049 - 144A	$	766
06/2006		209	Augsburg Re AG - 144A		67
06/2007		29,056	Buck Holdings L.P.		29,086
10/2005		30	Harvey Weinstein Master L.P. - Reg D		27,951
12/2006 – 12/2007		1,166,436	Mellon GSL DBT II Collateral Fund		1,166,436
03/2007		75	Solar Cayman Ltd.		1,121
12/2007		2,031	Suzlon Energy Acc - 144A		99,719
06/2006		3,053	TATA Steel Ltd. - 144A		47,337

The aggregate value of these securities at December 31, 2007 was $1,392,230 which represents 9.25% of total net assets.

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

­ ­  76  ­ ­

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Australian Dollar (Buy)	$	38	$	38		01/02/08	$	—
British Pound (Buy)		268		269		01/02/08		(1	)
British Pound (Buy)		263		263		01/03/08		—
British Pound (Sell)		7,328		7,372		01/04/08		44
Canadian Dollar (Buy)		86		87		01/02/08		(1	)
Canadian Dollar (Sell)		999		1,006		01/02/08		7
Canadian Dollar (Sell)		656		660		01/03/08		4
Euro (Buy)		938		921		01/02/08		17
Euro (Buy)		3,707		3,709		01/02/08		(2	)
Euro (Sell)		35,637		35,651		01/02/08		14
Euro (Buy)		804		804		01/03/08		—
Euro (Sell)		14,311		14,396		01/03/08		85
Euro (Sell)		727,640		718,618		12/19/08		(9,022	)
Hong Kong Dollar (Buy)		313		313		01/02/08		—
Hong Kong Dollar (Buy)		38		38		01/03/08		—
Japanese Yen (Buy)		70		68		01/07/08		2
Japanese Yen (Sell)		1,566		1,550		01/08/08		(16	)
Norwegian Krone (Buy)		70		68		01/02/08		2
Norwegian Krone (Buy)		2,018		2,011		01/03/08		7
Norwegian Krone (Buy)		1,435		1,440		01/04/08		(5	)
Singapore Dollar (Buy)		480		476		01/02/08		4
South African Rand (Buy)		40		40		01/04/08		—
South African Rand (Sell)		9,431		9,384		01/04/08		(47	)
South African Rand (Sell)		54,431		54,485		01/07/08		54
Swedish Krona (Buy)		31		31		01/03/08		—
Swiss Franc (Buy)		209		208		01/03/08		1
Turkish New Lira (Sell)		6,725		6,713		01/02/08		(12	)
							$	(8,865	)

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Australia		0.6	%
Austria		0.8
Belgium		0.3
Brazil		4.3
Canada		2.8
China		1.8
Egypt		0.7
Finland		0.1
France		0.7
Germany		1.1
Hong Kong		0.4
India		0.6
Ireland		0.2
Israel		0.8
Italy		0.1
Japan		0.8
Luxembourg		0.8
Mexico		0.1
Netherlands		0.1
Norway		0.1
Russia		1.1
South Africa		0.7
Spain		0.6
Sweden		0.2
Switzerland		2.8
Taiwan		0.8
Turkey		0.8
United Kingdom		4.4
United States		66.4
Short-Term Investments		12.7
Other Assets and Liabilities		(7.7	)
Total		100.0	%

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

­ ­  77  ­ ­

Hartford Disciplined Equity HLS Fund

Schedule of Investments

December 31, 2007

(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 97.8%
		Basic Materials — 3.4%
	266	Church & Dwight Co., Inc.	$	14,356
	51	Freeport McMoRan Copper & Gold, Inc.		5,204
	247	Kimberly-Clark Corp.		17,120
	244	Owens-Illinois, Inc. (D)		12,068
	135	United States Steel Corp.		16,359
				65,107
		Capital Goods — 3.9%
	20	Eaton Corp.		1,920
	241	Northrop Grumman Corp.		18,936
	467	Parker-Hannifin Corp.		35,166
	1,100	Xerox Corp.		17,809
				73,831
		Consumer Cyclical — 8.8%
	177	Abercrombie & Fitch Co. Class A		14,147
	437	Altria Group, Inc.		33,019
	277	BJ’s Wholesale Club, Inc. (D)		9,378
	150	Costco Wholesale Corp.		10,443
	445	Gap, Inc.		9,459
	267	Kohl’s Corp. (D)		12,238
	594	Kroger Co.		15,855
	509	Lowe’s Cos., Inc.		11,520
	160	Mosaic Co. (D)		15,104
	402	Newell Rubbermaid, Inc.		10,409
	417	NIKE, Inc. Class B		26,794
				168,366
		Consumer Staples — 3.8%
	81	Bunge Ltd. Finance Corp.		9,371
	268	PepsiCo, Inc.		20,333
	646	Reynolds American, Inc. (G)		42,617
				72,321
		Energy — 11.5%
	238	Chevron Corp.		22,175
	667	ConocoPhillips Holding Co.		58,931
	366	Exxon Mobil Corp.		34,272
	259	Halliburton Co.		9,822
	90	Hess Corp.		9,088
	74	Marathon Oil Corp.		4,516
	722	Occidental Petroleum Corp.		55,579
	369	Valero Energy Corp. (U)		25,861
				220,244
		Finance — 22.3%
	658	ACE Ltd.		40,651
	179	Aetna, Inc.		10,351
	451	Allied World Assurance Holdings Ltd.		22,612
	687	Assurant, Inc. (G)(U)		45,947
	579	Axis Capital Holdings Ltd.		22,556
	1,114	Bank of America Corp.		45,980
	90	Blackrock, Inc. (G)		19,512
	88	Capital One Financial Corp.		4,178
	212	CIT Group, Inc.		5,085
	385	Everest Re Group Ltd.		38,674
	228	Goldman Sachs Group, Inc.		48,945
	328	Reinsurance Group of America, Inc. (G)		17,229
	95	Ryder System, Inc.		4,452
	201	Travelers Cos., Inc.		10,792
	760	UnitedHealth Group, Inc.		44,238
	496	Wellpoint, Inc. (D)		43,523
				424,725
		Health Care — 12.1%
	340	Amylin Pharmaceuticals, Inc. (D)(G)		12,581
	1,590	Bristol-Myers Squibb Co.		42,156
	232	Cephalon, Inc. (D)(G)		16,655
	154	Coventry Health Care, Inc. (D)		9,130
	639	Eli Lilly & Co.		34,127
	753	Forest Laboratories, Inc. (D)		27,447
	193	Gilead Sciences, Inc. (D)		8,871
	583	McKesson Corp.		38,212
	1,401	Schering-Plough Corp.		37,331
	101	Wyeth		4,472
				230,982
		Services — 5.0%
	425	Accenture Ltd. Class A		15,306
	128	Apollo Group, Inc. Class A (D)(G)		8,986
	485	Autodesk, Inc. (D)		24,134
	64	ITT Educational Services, Inc. (D)		5,449
	220	Manpower, Inc.		12,529
	183	Viacom, Inc. Class B (D)		8,046
	647	Walt Disney Co.		20,888
				95,338
		Technology — 21.6%
	60	Apple, Inc. (D)		11,905
	963	Applied Materials, Inc.		17,094
	1,128	AT&T, Inc.		46,869
	295	CenturyTel, Inc. (G)		12,218
	287	Danaher Corp.		25,146
	94	Embarq Corp. (G)		4,666
	951	Hewlett-Packard Co.		48,017
	269	International Business Machines Corp.		29,036
	314	Juniper Networks, Inc. (D)		10,418
	399	KLA-Tencor Corp.		19,216
	676	LAM Research Corp. (D)(U)		29,228
	363	Lockheed Martin Corp. (U)		38,251
	1,141	Microsoft Corp.		40,605
	464	Network Appliance, Inc. (D)		11,571
	1,876	Oracle Corp. (D)		42,365
	476	Qualcomm, Inc.		18,723
	363	Symantec Corp. (D)		5,862
				411,190
		Transportation — 0.3%
	58	General Dynamics Corp.		5,126
		Utilities — 5.1%
	417	Duke Energy Corp.		8,407
	231	Entergy Corp.		27,549
	130	Exelon Corp.		10,589
	173	FirstEnergy Corp.		12,544
	306	FPL Group, Inc.		20,720
	181	NRG Energy, Inc. (D)(G)		7,862
	107	Public Service Enterprise Group, Inc.		10,462
				98,133
		Total common stock (cost $1,662,650)	$	1,865,363

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

­ ­  78  ­ ­

Principal					Market
Amount					Value (W)
SHORT-TERM INVESTMENTS — 8.8%
		Repurchase Agreements — 1.9%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $8,487, collateralized by FNMA 5.00%, 2035, value of $8,654)
$	8,484	4.50% dated 12/31/2007			$	8,484
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $77, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $78)
	77	1.35% dated 12/31/2007				77
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $23,617, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $24,083)
	23,611	4.75% dated 12/31/2007				23,611
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $3,331, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $3,397)
	3,330	4.60% dated 12/31/2007				3,330
						35,502
Shares
		Securities Purchased with Proceeds from Security Lending — 6.7%
		Cash Collateral Reinvestment Fund:
	128,807	Goldman Sachs FS Prime Obligation/Institutional Fund				128,807
Principal
Amount
		U.S. Treasury Bills — 0.2%
$	125	3.10%, 03/06/2008 (M)(S)			$	125
	2,625	3.91%, 01/24/2008 (M)(S)				2,620
	350	3.95%, 01/03/2008 (M)(S)				350
						3,095
		Total short-term investments (cost $167,401)			$	167,404
		Total investments (cost $1,830,051) (C)	106.6	%	$	2,032,767
		Other assets and liabilities	(6.6	)%		(126,238	)
		Total net assets	100.0	%	$	1,906,529

Note:  Percentage of investments as shown is the ratio of the total market value to total net assets.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $1,830,097 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	255,265
Unrealized Depreciation		(52,595	)
Net Unrealized Appreciation	$	202,670

(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(M)	The interest rate disclosed for these securities represents the effective yield on the date of acquisition.
(S)	Security pledged as initial margin deposit for open futures contracts at December 31, 2007.
	Futures Contracts Outstanding at December 31, 2007

							Unrealized
	Number of				Expiration		Appreciation/
Description	Contracts*		Position		Month		(Depreciation)
S&P 500 Index		474		Long		Mar 2008	$	(505	)

	* The number of contracts does not omit 000’s.
(U)	At December 31, 2007, securities valued at $17,167 and cash of $1,651 were designated to cover open call options written as follows (see Note 2h to accompanying Notes to Financial Statements):

	Number of		Exercise		Exercise		Market		Premiums
Issuer	Contracts*		Price		Date		Value (W)		Received
Assurant, Inc.		697	$	70.00		Jan 2008	$	30	$	141
LAM Research Corp.		1,049		55.00		Jan 2008		5		47
Lockheed Martin Corp.		337		120.00		Jan 2008		4		47
Valero Energy Corp.		569		72.50		Jan 2008		48		58
							$	87	$	293

	* The number of contracts does not omit 000’s.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  79  ­ ­

Hartford Dividend and Growth HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 98.9%
		Basic Materials — 7.9%
	236	AbitibiBowater, Inc. (G)	$	4,862
	1,315	Agrium, Inc.		94,934
	1,429	Alcoa, Inc.		52,223
	694	Companhia Vale do Rio Doce ADR (G)		22,669
	2,393	E.I. DuPont de Nemours & Co.		105,504
	1,955	International Paper Co.		63,316
	702	Kimberly-Clark Corp.		48,684
	948	Newmont Mining Corp.		46,300
	1,157	Pentair, Inc.		40,258
	769	Rhodia S.A. (D)(G)		29,121
	1,317	Rohm & Haas Co.		69,867
				577,738
		Capital Goods — 4.3%
	596	3M Co.		50,263
	164	Caterpillar, Inc.		11,878
	1,518	Deere & Co.		141,375
	512	Illinois Tool Works, Inc.		27,429
	1,141	Spirit Aerosystems Holdings, Inc. (D)		39,347
	2,778	Xerox Corp.		44,971
				315,263
		Consumer Cyclical — 7.9%
	1,325	Altria Group, Inc.		100,106
	852	Avery Dennison Corp.		45,249
	800	Home Depot, Inc.		21,547
	1,831	Honda Motor Co., Ltd. ADR		60,686
	982	Masco Corp.		21,219
	1,287	McDonald’s Corp.��		75,793
	2,282	Staples, Inc.		52,650
	2,152	Sysco Corp.		67,161
	2,927	Wal-Mart Stores, Inc.		139,134
				583,545
		Consumer Staples — 6.3%
	367	Bunge Ltd. Finance Corp. (G)		42,722
	532	Coca-Cola Co.		32,618
	788	Nestle S.A. ADR		90,215
	1,484	PepsiCo, Inc.		112,598
	1,908	Procter & Gamble Co.		140,101
	1,312	Tyson Foods, Inc. Class A		20,116
	595	Unilever N.V.		21,697
				460,067
		Energy — 18.4%
	1,401	Anadarko Petroleum Corp.		92,038
	3,050	Chevron Corp.		284,666
	1,589	ConocoPhillips Holding Co.		140,326
	1,612	EnCana Corp.		109,529
	3,002	Exxon Mobil Corp.		281,282
	912	Royal Dutch Shell plc		76,765
	680	Schlumberger Ltd.		66,901
	2,428	Total S.A. ADR (G)		200,512
	1,879	XTO Energy, Inc.		96,493
				1,348,512
		Finance — 14.5%
	1,143	ACE Ltd.		70,584
	1,446	Allstate Corp.		75,509
	1,647	American International Group, Inc.		96,003
	3,363	Bank of America Corp.		138,761
	935	Capital One Financial Corp.		44,193
	2,407	Citigroup, Inc.		70,858
	583	Federal Home Loan Mortgage Corp.		19,853
	1,219	ING Groep N.V. ADR		47,447
	514	Lincoln National Corp.		29,896
	970	MBIA, Inc. (G)		18,078
	581	Merrill Lynch & Co., Inc.		31,161
	655	Morgan Stanley		34,776
	555	PNC Financial Services Group, Inc.		36,455
	452	Prudential Financial, Inc.		42,008
	1,119	State Street Corp.		90,863
	603	SunTrust Banks, Inc.		37,675
	1,163	Synovus Financial Corp.		28,010
	2,066	UBS AG		95,031
	1,571	Wachovia Corp.		59,737
				1,066,898
		Health Care — 11.3%
	2,379	Abbott Laboratories		133,558
	1,038	AstraZeneca plc ADR		44,426
	2,729	Bristol-Myers Squibb Co.		72,376
	2,859	Eli Lilly & Co.		152,642
	2,158	Medtronic, Inc.		108,498
	1,465	Sanofi-Aventis S.A. ADR		66,688
	4,674	Schering-Plough Corp.		124,518
	831	Teva Pharmaceutical Industries Ltd. ADR		38,611
	407	Walgreen Co.		15,502
	1,705	Wyeth		75,326
				832,145
		Services — 6.7%
	1,551	Accenture Ltd. Class A		55,875
	1,265	Automatic Data Processing, Inc.		56,344
	2,865	Comcast Corp. Class A (D)		52,313
	1,455	Comcast Corp. Special Class A (D)		26,368
	1,394	New York Times Co. Class A (G)		24,433
	2,926	Time Warner, Inc.		48,315
	922	United Parcel Service, Inc. Class B		65,211
	1,283	Viacom, Inc. Class B (D)		56,330
	896	Walt Disney Co.		28,910
	2,299	Waste Management, Inc.		75,098
				489,197
		Technology — 14.9%
	3,174	Applied Materials, Inc.		56,367
	1,573	ASML Holding N.V. (G)		49,232
	7,807	AT&T, Inc.		324,441
	5,032	General Electric Co.		186,524
	1,593	International Business Machines Corp.		172,236
	660	Lockheed Martin Corp.		69,493
	2,139	Maxim Integrated Products, Inc.		56,635
	1,815	Microsoft Corp.		64,610
	842	Qualcomm, Inc.		33,133
	1,899	Verizon Communications, Inc.		82,952
				1,095,623
		Transportation — 1.0%
	747	Royal Caribbean Cruises Ltd. (G)		31,694
	3,313	Southwest Airlines Co.		40,416
				72,110

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

­ ­  80  ­ ­

					Market
Shares					Value (W)
COMMON STOCK — (continued)
		Utilities — 5.7%
	2,069	Dominion Resources, Inc.			$	98,155
	1,719	Exelon Corp.				140,366
	1,664	FPL Group, Inc.				112,766
	538	Progress Energy, Inc.				26,031
	448	Veolia Environment ADR				40,768
						418,086
		Total common stock (cost $5,886,454)			$	7,259,184
Principal
Amount
SHORT-TERM INVESTMENTS — 3.1%
		Repurchase Agreements — 1.0%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $17,754, collateralized by FNMA 5.00%, 2035, value of $18,105)
$	17,750	4.50% dated 12/31/2007			$	17,750
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $160, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $163)
	160	1.35% dated 12/31/2007				160
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $49,409, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $50,384)
	49,396	4.75% dated 12/31/2007				49,396
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $6,968, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $7,106)
	6,966	4.60% dated 12/31/2007				6,966
						74,272
Shares
		Securities Purchased with Proceeds from Security Lending — 2.1%
		Cash Collateral Reinvestment Fund:
	154,323	Goldman Sachs FS Prime Obligation/Institutional Fund				154,323
		Total short-term investments (cost $228,595)			$	228,595
		Total investments (cost $6,115,049) (C)	102.0	%	$	7,487,779
		Other assets and liabilities	(2.0	)%		(143,628	)
		Total net assets	100.0	%	$	7,344,151

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 14.82% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $6,122,502 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	1,608,226
Unrealized Depreciation		(242,949	)
Net Unrealized Appreciation	$	1,365,277

(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  81  ­ ­

Hartford Equity Income HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

					Market
Shares					Value (W)
COMMON STOCK — 98.5%
		Basic Materials — 7.4%
	81	Air Products and Chemicals, Inc.			$	7,979
	220	Dow Chemical Co.				8,678
	121	E.I. DuPont de Nemours & Co.				5,335
	53	International Paper Co.				1,705
	85	Kimberly-Clark Corp.				5,880
	66	PPG Industries, Inc.				4,650
						34,227
		Capital Goods — 2.7%
	53	3M Co.				4,469
	16	Deere & Co.				1,471
	145	Trane, Inc.				6,764
						12,704
		Consumer Cyclical — 4.3%
	172	Altria Group, Inc.				13,010
	43	McDonald’s Corp.				2,533
	114	Supervalu, Inc.				4,277
						19,820
		Consumer Staples — 8.0%
	68	Colgate-Palmolive Co.				5,270
	198	ConAgra Foods, Inc.				4,701
	49	Diageo plc ADR				4,163
	105	General Mills, Inc.				6,004
	124	Kellogg Co.				6,478
	119	Kraft Foods, Inc.				3,885
	87	PepsiCo, Inc.				6,618
						37,119
		Energy — 17.4%
	267	Chevron Corp.				24,928
	250	ConocoPhillips Holding Co.				22,094
	259	Exxon Mobil Corp.				24,255
	50	Royal Dutch Shell plc ADR				4,154
	60	Total S.A. ADR				4,956
						80,387
		Finance — 23.0%
	112	ACE Ltd.				6,895
	96	Allstate Corp.				5,014
	411	Bank of America Corp.				16,971
	115	Bank of New York Mellon Corp.				5,589
	146	Chubb Corp.				7,995
	344	Host Hotels & Resorts, Inc.				5,856
	200	JP Morgan Chase & Co.				8,717
	148	Lloyd’s TSB Group plc ADR				5,576
	88	Morgan Stanley				4,674
	137	PNC Financial Services Group, Inc.				8,986
	199	UBS AG				9,168
	395	US Bancorp				12,528
	65	Wachovia Corp.				2,489
	204	Wells Fargo & Co.				6,167
						106,625
		Health Care — 7.4%
	123	Abbott Laboratories				6,929
	108	Baxter International, Inc.				6,272
	238	Bristol-Myers Squibb Co.				6,315
	78	Eli Lilly & Co.				4,170
	83	GlaxoSmithKline plc ADR				4,182
	147	Wyeth				6,484
						34,352
		Services — 1.3%
	59	R.R. Donnelley & Sons Co.				2,212
	122	Waste Management, Inc.				3,979
						6,191
		Technology — 15.3%
	556	AT&T, Inc.				23,105
	100	Chunghwa Telecom Co., Ltd. ADR				2,115
	619	General Electric Co.				22,950
	265	Intel Corp.				7,057
	133	Nokia Corp.				5,094
	241	Verizon Communications, Inc.				10,519
						70,840
		Utilities — 11.7%
	110	American Electric Power Co., Inc.				5,112
	176	Consolidated Edison, Inc.				8,603
	130	Dominion Resources, Inc.				6,153
	23	Entergy Corp.				2,737
	55	Exelon Corp.				4,476
	213	FPL Group, Inc.				14,433
	85	SCANA Corp.				3,575
	230	Southern Co.				8,893
						53,982
		Total common stock (cost $397,052)			$	456,247
Principal
Amount
SHORT-TERM INVESTMENTS — 1.2%
		Repurchase Agreements — 1.2%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,287, collateralized by FNMA 5.00%, 2035, value of $1,312)
$	1,286	4.50% dated 12/31/2007			$	1,286
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $12, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $12)
	12	1.35% dated 12/31/2007				12
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $3,580, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $3,651)
	3,579	4.75% dated 12/31/2007				3,579
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $505, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $515)
	505	4.60% dated 12/31/2007				505
		Total short-term investments (cost $5,382)			$	5,382
		Total investments (cost $402,434) (C)	99.7	%	$	461,629
		Other assets and liabilities	0.3	%		1,484
		Total net assets	100.0	%	$	463,113

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 8.51% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $402,472 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	71,967
Unrealized Depreciation		(12,810	)
Net Unrealized Appreciation	$	59,157

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  82  ­ ­

Hartford Fundamental Growth HLS Fund (formerly Hartford Focus HLS Fund)

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 98.8%
		Basic Materials — 5.4%
	24	Barrick Gold Corp.	$	1,009
	41	Companhia Vale do Rio Doce ADR		1,333
	17	Freeport McMoRan Copper & Gold, Inc.		1,752
	7	Potash Corp. of Saskatchewan		950
				5,044
		Capital Goods — 4.5%
	14	Caterpillar, Inc.		987
	20	Deere & Co.		1,872
	18	Northrop Grumman Corp.		1,415
				4,274
		Consumer Cyclical — 13.3%
	16	Altria Group, Inc.		1,179
	39	American Eagle Outfitters, Inc.		814
	26	Best Buy Co., Inc. (G)		1,369
	43	Coach, Inc. (D)		1,321
	21	eBay, Inc. (D)		704
	27	Gymboree Corp. (D)		829
	31	Kohl’s Corp. (D)		1,401
	32	NIKE, Inc. Class B		2,030
	33	Oshkosh Truck Corp.		1,564
	56	Staples, Inc.		1,299
				12,510
		Consumer Staples — 3.4%
	20	PepsiCo, Inc.		1,548
	22	Procter & Gamble Co.		1,630
				3,178
		Energy — 11.5%
	22	Anadarko Petroleum Corp.		1,419
	23	Apache Corp.		2,473
	13	Devon Energy Corp.		1,129
	12	EOG Resources, Inc.		1,098
	30	Halliburton Co.		1,152
	3	Petroleo Brasileiro S.A. ADR		346
	16	Schlumberger Ltd.		1,525
	12	Transocean, Inc.		1,720
				10,862
		Finance — 12.6%
	27	Aflac, Inc.		1,710
	32	American International Group, Inc.		1,877
	42	Banco Itau Holding Financeira S.A.		1,084
	3	Goldman Sachs Group, Inc.		688
	71	Invesco Ltd.		2,234
	35	MBIA, Inc. (G)		660
	37	UnitedHealth Group, Inc.		2,171
	16	Wellpoint, Inc. (D)		1,412
				11,836
		Health Care — 9.6%
	35	Amgen, Inc. (D)		1,602
	22	Covidien Ltd.		983
	37	CVS/Caremark Corp.		1,471
	24	Genentech, Inc. (D)		1,603
	18	Medtronic, Inc.		915
	28	St. Jude Medical, Inc. (D)		1,130
	28	Teva Pharmaceutical Industries Ltd. ADR		1,292
				8,996
		Services — 3.9%
	40	Manpower, Inc.		2,299
	12	Priceline.com, Inc. (D)(G)		1,378
				3,677
		Technology — 33.0%
	25	America Movil S.A.B. de C.V. ADR		1,559
	8	Apple, Inc. (D)		1,585
	68	Applied Materials, Inc.		1,215
	30	AT&T, Inc.		1,263
	8	China Mobile Ltd. ADR		678
	79	Cisco Systems, Inc. (D)		2,149
	61	Corning, Inc.		1,461
	34	General Electric Co.		1,275
	3	Google, Inc. (D)		2,213
	48	Hewlett-Packard Co.		2,438
	46	Infosys Technologies Ltd. ADR (G)		2,105
	45	Intel Corp.		1,192
	19	MEMC Electronic Materials, Inc. (D)		1,690
	76	Microsoft Corp.		2,713
	25	NII Holdings, Inc. Class B (D)		1,193
	34	Nokia Corp.		1,298
	88	Oracle Corp. (D)		1,980
	25	Qualcomm, Inc.		995
	10	Research In Motion Ltd. (D)		1,100
	19	Thomas & Betts Corp. (D)		942
				31,044
		Utilities — 1.6%
	18	Exelon Corp.		1,462
		Total common stock (cost $87,548)	$	92,883
Principal
Amount
SHORT-TERM INVESTMENTS — 3.2%
		Repurchase Agreements — 1.0%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $226, collateralized by FNMA 5.00%, 2035, value of $230)
$	226	4.50% dated 12/31/2007	$	226
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $2, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $2)
	2	1.35% dated 12/31/2007		2
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $629, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $641)
	628	4.75% dated 12/31/2007		628

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

­ ­  83  ­ ­

Hartford Fundamental Growth HLS Fund (formerly Hartford Focus HLS Fund)

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal					Market
Amount					Value (W)
SHORT-TERM INVESTMENTS — (continued)
		Repurchase Agreements — (continued)
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $89, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $90)
$	89	4.60% dated 12/31/2007			$	89
						945
Shares
		Securities Purchased with Proceeds from Security Lending — 2.2%
		Cash Collateral Reinvestment Fund:
	2,106	Goldman Sachs FS Prime Obligation/Institutional Fund				2,106
		Total short-term investments (cost $3,051)			$	3,051
		Total investments (cost $90,599) (C)	102.0	%	$	95,934
		Other assets and liabilities	(2.0	)%		(1,913	)
		Total net assets	100.0	%	$	94,021

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 13.56% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $90,821 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	11,195
Unrealized Depreciation		(6,082	)
Net Unrealized Appreciation	$	5,113

(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  84  ­ ­

Hartford Global Advisers HLS Fund

Schedule of Investments

December 31, 2007

(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 60.2%
		Basic Materials — 3.9%
	84	BHP Billiton plc (A)	$	2,552
	48	Cameco Corp.		1,891
	71	Companhia Vale do Rio Doce ADR		2,329
	18	Potash Corp. of Saskatchewan		2,548
	28	Praxair, Inc.		2,457
	47	Xstrata plc (A)		3,319
				15,096
		Capital Goods — 2.8%
	17	Alstom RGPT (A)		3,649
	27	Boeing Co. #		2,326
	55	Gamesa Corporacion Tecnologica S.A. (A)		2,537
	23	Vestas Wind Systems A/S (A)(D)		2,473
				10,985
		Consumer Cyclical — 4.5%
	91	Arcandor AG (A)(D)		2,187
	645	China Communications Construction Co., Ltd. (A)		1,668
	31	Daimler AG (A)		2,972
	17	LG Electronics, Inc. (A)(D)		1,815
	9	Nintendo Co., Ltd. (A)		5,402
	355	Tesco plc (A)		3,376
				17,420
		Consumer Staples — 2.7%
	—	Japan Tobacco, Inc. (A)		2,738
	9	Nestle S.A. (A)		3,933
	63	Reckitt Benckiser Group plc (A)		3,634
				10,305
		Energy — 4.5%
	20	Diamond Offshore Drilling, Inc.		2,868
	38	Schlumberger Ltd. #		3,738
	127	Seadrill Ltd. (A)(D)		3,060
	40	Suncor Energy, Inc.		4,374
	44	Ultra Petroleum Corp. (D)		3,146
				17,186
		Finance — 8.5%
	363	Alibaba.com Ltd. (D)		1,286
	92	Bolsa De Mercadorias e Futuros (D)		1,291
	504	China Merchants Bank Co., Ltd. (A)		2,028
	19	Deutsche Boerse AG (A) #		3,788
	15	Erste Bank Der Oesterreichischen Sparkassen AG (A) #		1,024
	11	Goldman Sachs Group, Inc. #		2,322
	165	Invesco Ltd.		5,177
	46	Julius Baer Holding Ltd. (A)		3,801
	361	Man Group plc (A)		4,101
	85	MF Global Ltd. (D)		2,672
	37	National Bank of Greece (A)		2,506
	126	Sun Hung Kai Properties Ltd. (A)		2,646
				32,642
		Health Care — 4.3%
	124	Elan Corp. plc ADR (D)(G)		2,719
	65	Gilead Sciences, Inc. (D)(G)		3,000
	42	Monsanto Co. #		4,657
	120	Schering-Plough Corp. #		3,189
	73	St. Jude Medical, Inc. (D)		2,983
				16,548
		Services — 2.1%
	60	Cognizant Technology Solutions Corp. (D)		2,030
	46	Focus Media Holding Ltd. ADR (D)(G)		2,607
	33	Las Vegas Sands Corp. (D)(G)		3,411
				8,048
		Technology — 21.6%
	120	ABB Ltd. (A)		3,471
	42	America Movil S.A.B. de C.V. ADR #		2,597
	53	American Tower Corp. Class A (D)#		2,266
	22	Apple, Inc. (D)		4,279
	73	ASML Holding N.V. (A)		2,297
	77	Broadcom Corp. Class A (D)		2,021
	143	Cisco Systems, Inc. (D)#		3,882
	127	Corning, Inc. #		3,049
	41	Danaher Corp. #		3,624
	98	Electronic Arts, Inc. (D)		5,701
	12	Google, Inc. (D)#		8,505
	50	Hewlett-Packard Co. #		2,544
	34	Hologic, Inc. (D)		2,348
	427	Hon Hai Precision Industry Co., Ltd. (A)		2,631
	68	Logitech International S.A. (A)(D)		2,498
	118	MetroPCS Communications, Inc. (D)		2,303
	81	Microsoft Corp.		2,869
	35	Millicom International Cellular S.A. (D)		4,163
	105	Nokia Corp.		4,035
	174	Oracle Corp. (D)#		3,929
	78	Qualcomm, Inc.		3,065
	12	Research In Motion Ltd. (D)		1,338
	28	Siemens AG (A)		4,412
	77	Sumco Corp. (A)		2,201
	90	Telefonica S.A. (A)		2,905
				82,933
		Transportation — 1.4%
	39	General Dynamics Corp.		3,488
	50	Ryanair Holdings plc ADR (D)(G)		1,968
				5,456
		Utilities — 3.9%
	375	Iberdrola Renovables (D)		3,097
	19	Sunpower Corp. (D)		2,451
	54	Suntech Power Holdings Co., Ltd. ADR (D)(G)		4,404
	54	Veolia Environment S.A. (A)		4,877
				14,829
		Total common stock (cost $174,783)	$	231,448
Principal
Amount
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 5.7%
		Finance — 5.7%
		Advanta Business Card Master Trust
$	900	5.02%, 04/20/2011 (L)#		900

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

­ ­  85  ­ ­

Hartford Global Advisers HLS Fund

Schedule of Investments — (continued)

December 31, 2007

(000’s Omitted)

Principal			Market
Amount(B)			Value (W)
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — (continued)
		Finance — (continued)
		American Express Credit Account Master Trust
$	521	5.03%, 01/18/2011 (L)#	$	521
		ARMS II
	84	5.38%, 09/10/2034 (L)		83
		Arran Residential Mortgages Funding
	320	5.25%, 04/12/2036 (I)(L)		320
		Banc of America Commercial Mortgage, Inc.
	660	5.35%, 09/10/2047 (L)		657
		Bank One Issuance Trust
	500	5.14%, 06/15/2011 (L)		500
		Bear Stearns Commercial Mortgage Securities, Inc.
	595	4.68%, 08/13/2039 #		587
	450	5.61%, 11/15/2033 #		462
		Capital Automotive Receivables Asset Trust
	193	5.23%, 02/15/2009 #		193
		Capital One Prime Automotive Receivables Trust
	620	5.05%, 04/15/2011 (L)#		618
		Collegiate Funding Services Education Loan Trust I
	312	4.85%, 09/28/2017 (L)		312
	51	4.86%, 09/29/2014 (L)		51
		Commercial Mortgage Asset Trust
	691	6.64%, 01/17/2032		702
		Crusade Global Trust
	158	5.05%, 06/17/2037 (L)#		157
	110	5.16%, 09/18/2034 (L)#		109
	48	5.37%, 01/16/2035 (L)		47
	61	5.41%, 01/17/2034 (L)		61
		CS First Boston Mortgage Securities Corp.
	450	3.94%, 05/15/2038 #		430
		European Loan Conduit
GBP	83	6.27%, 11/01/2029 (I)(L)		164
		Ford Credit Automotive Owner Trust
	1,130	5.36%, 04/15/2014 (L)		1,129
		Ford Credit Floorplan Master Owner Trust
	700	5.18%, 05/15/2010 (L)#		700
		GE Commercial Loan Trust
	800	5.26%, 07/19/2015 (I)(L)#		794
	409	5.26%, 04/19/2015 (I)(L)		407
		Goldman Sachs Mortgage Securities Corp. II
	110	5.77%, 03/06/2020 (I)(L)		104
		Gracechurch Mortgage Financing plc
	884	4.98%, 08/20/2032 (I)(L)		876
		Granite Master Issuer plc
	150	4.77%, 12/20/2030 (L)		149
		Harley-Davidson Motorcycle Trust
	117	5.06%, 06/15/2010 (I)		117
		Household Affinity Credit Card Master Note Trust I
	1,340	5.15%, 02/15/2010 (L)#		1,340
		Hyundai Automotive Receivables Trust
	358	5.25%, 09/15/2009		358
		Interstar Millennium Trust
	516	5.42%, 07/07/2034 (L)		496
		Kildare Securities Ltd.
	158	5.17%, 06/10/2014 (I)(L)		158
		Lanark Master Issuer plc
	683	5.05%, 07/22/2032 (I)(L)		681
		MBNA Credit Card Master Note Trust
	904	5.03%, 12/15/2010 (L)#		904
		Medallion Trust
	259	5.08%, 02/27/2039 (L)		251
	117	5.10%, 12/21/2033 (L)		115
	108	5.16%, 05/25/2035 (L)		107
		Merrill Lynch Mortgage Backed Securities
	953	5.80%, 08/25/2036 (L)		954
		Morgan Stanley Capital I
	375	5.23%, 09/15/2042 #		371
		National RMBS Trust
	330	5.04%, 03/20/2034 (L)		326
		New Century Home Equity Loan Trust
	12	5.15%, 03/25/2035 (L)		12
		Nomura Asset Securities Corp.
	231	6.59%, 03/15/2030 #		231
		Prudential Commercial Mortgage Trust
	570	4.49%, 02/11/2036 #		559
		Sequoia Mortgage Trust
	971	5.80%, 01/20/2038 (L)		972
		USAA Automotive Owner Trust
	1,050	5.04%, 04/15/2010 (L)		1,053
		Volkswagen Credit Automotive Master Trust
	895	4.97%, 07/20/2010 (L)#		894
		Wachovia Bank Commercial Mortgage Trust
	500	5.12%, 07/15/2042 #		491
		Wells Fargo Mortgage Backed Securities Trust
	148	5.10%, 03/25/2036 (L)		148
		Westpac Securitization Trust
	246	4.95%, 03/23/2036 (L)		235
		Total asset & commercial mortgage backed securities (cost $21,830)	$	21,806
CORPORATE BONDS: INVESTMENT GRADE — 23.0%
		Basic Materials — 0.6%
		Bayer AG
EUR	550	4.90%, 05/25/2009 (L)	$	804
GBP	350	5.63%, 05/23/2018		669
		Vale Overseas Ltd.
	770	6.25%, 01/23/2017 #		772
				2,245
		Capital Goods — 0.2%
		United Technologies Corp.
	595	5.19%, 06/01/2009 (L)#		591
		Xerox Corp.
	215	5.50%, 05/15/2012 #		219
				810
		Consumer Cyclical — 0.5%
		D.R. Horton, Inc.
	295	8.00%, 02/01/2009 #		287
		DaimlerChrysler NA Holdings Corp.
	485	4.88%, 06/15/2010 #		483
		Enterprise Inns plc
GBP	340	6.50%, 12/06/2018		698

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

­ ­  86  ­ ­

Principal			Market
Amount(B)			Value (W)
CORPORATE BONDS: INVESTMENT GRADE — (continued)
		Consumer Cyclical — (continued)
		Honda Canada Finance, Inc.
CAD	530	5.68%, 09/26/2012		545
				2,013
		Consumer Staples — 0.6%
		Anheuser-Busch Cos., Inc.
$	170	5.50%, 01/15/2018 #	$	173
		Cia Brasileira de Bebidas
	130	8.75%, 09/15/2013 #		148
	300	10.50%, 12/15/2011 #		349
		Diageo Capital plc
	430	5.20%, 01/30/2013 #		432
		Kellogg Co.
	325	5.13%, 12/03/2012 #		328
		Miller Brewing Co.
	500	4.25%, 08/15/2008 (I)#		498
		PepsiCo, Inc.
	395	4.65%, 02/15/2013 #		398
				2,326
		Energy — 0.9%
		Anadarko Petroleum Corp.
	510	5.39%, 09/15/2009 (L)#		502
		ConocoPhillips Australia Funding Co.
	684	5.34%, 04/09/2009 (L)#		683
		EnCana Corp.
	655	5.90%, 12/01/2017 #		670
		Pemex Project Funding Master Trust
	1,090	8.50%, 02/15/2008 #		1,093
		Petrobras International Finance Co.
	670	5.88%, 03/01/2018 #		667
				3,615
		Finance — 8.2%
		Abbey National Treasury Service
EUR	500	4.90%, 03/07/2008 (L)		731
		Ace INA Holdings
	435	5.70%, 02/15/2017 #		431
		Allied World Assurance
	260	7.50%, 08/01/2016 #		272
		AXA S.A.
GBP	160	7.13%, 12/15/2020		340
		Bank of America Corp.
EUR	785	4.71%, 11/20/2008 (L)#		1,144
		Berkshire Hathaway Finance Corp.
	500	5.30%, 01/11/2008 (G)(L)		500
		Boeing Capital Corp.
	450	4.75%, 08/25/2008 #		452
		Caisse Eparg ECR
EUR	1,050	4.66%, 07/17/2008 (L)		1,533
EUR	1,050	4.76%, 03/28/2008 (L)		1,534
		Caterpillar Financial Services Corp.
	325	4.85%, 12/07/2012 #		326
		Citigroup, Inc.
	750	6.00%, 08/15/2017 #		765
		Deutsche Bank AG
	670	5.00%, 10/12/2010 #		683
		Eaton Vance Corp.
	125	6.50%, 10/02/2017 #		131
		ERAC USA Finance Co.
	425	5.23%, 04/30/2009 (I)(L)#		423
		Export-Import Bank Korea
	925	5.50%, 10/17/2012 #		929
		General Electric Capital Corp.
	575	5.63%, 09/15/2017 #		590
		Goldman Sachs Group, Inc.
EUR	265	5.13%, 10/16/2014		373
	455	6.25%, 09/01/2017 #		473
		HBOS Treasury Services plc
	1,150	4.00%, 09/15/2009 (I)#		1,140
		HCP, Inc.
	565	6.70%, 01/30/2018 #		552
		HSBC Holdings plc
	815	6.50%, 09/15/2037 #		790
		International Lease Finance Corp.
	920	5.40%, 02/15/2012 #		928
		John Deere Bank S.A.
EUR	1,005	4.96%, 09/08/2008 (L)		1,469
		JP Morgan Chase Bank
	555	6.00%, 10/01/2017 #		564
		Korea Development Bank
	430	4.63%, 09/16/2010 #		426
		Lloyds TSB Bank plc
EUR	800	5.25%, 07/14/2008 #		1,172
		Metlife Global Funding
GBP	250	5.25%, 01/09/2014 #		485
		Mizuho Financial Group, Inc.
	525	5.79%, 04/15/2014 (I)#		549
		Morgan Stanley
	665	5.11%, 04/25/2008 (L)#		664
EUR	570	5.12%, 05/29/2008 (L)#		830
	505	5.95%, 12/28/2017		505
		National Australia Bank Ltd.
EUR	505	4.50%, 06/23/2016 (L)		714
		New York Life Global Funding
EUR	535	3.75%, 10/19/2009		769
		Nordea Bank Finland plc
EUR	225	5.83%, 03/26/2014 (L)		331
		Northern Trust Co.
GBP	350	5.38%, 03/11/2015		654
		Principal Life Income Funding
	290	5.03%, 11/15/2010 (L)#		284
		Royal Bank of Canada
EUR	1,000	4.70%, 02/27/2008 (L)#		1,461
		Royal Bank of Scotland Group plc
EUR	1,050	4.79%, 09/29/2008 (L)		1,532
		Southern Capital Corp.
	106	5.70%, 06/30/2022 (I)#		111
		Standard Chartered Bank
	425	6.40%, 09/26/2017 (I)#		432
		Temasek Financial I Ltd.
	1,145	4.50%, 09/21/2015 (I)#		1,114
		Travelers Property Casualty Corp.
	1,350	3.75%, 03/15/2008 #		1,346
		Unicredito Italiano Bank of Ireland
EUR	300	4.66%, 01/25/2008 (L)		439
		VTB Capital (Vneshtorgbank)
	565	5.51%, 08/01/2008 (I)(L)#		559
				31,450

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

­ ­  87  ­ ­

Hartford Global Advisers HLS Fund

Schedule of Investments — (continued)

December 31, 2007

(000’s Omitted)

Principal			Market
Amount(B)			Value (W)
CORPORATE BONDS: INVESTMENT GRADE — (continued)
		Foreign Governments — 8.1%
		Australian Government
AUD	460	6.00%, 02/15/2017		395
		Canadian Government
CAD	825	5.75%, 06/01/2033 #		1,051
		Chile (Republic of)
$	470	5.41%, 01/28/2008 (L)#	$	470
		Denmark (Kingdom of)
DKK	3,676	6.00%, 11/15/2009		743
		Deutschland Bundesrepublic
EUR	2,895	3.75%, 01/04/2017		4,065
EUR	5,095	5.00%, 01/04/2012		7,678
EUR	765	5.25%, 07/04/2010		1,149
		French Government
EUR	4,130	3.50%, 07/12/2011		5,917
EUR	400	4.00%, 04/25/2013 #		579
EUR	685	5.00%, 10/25/2016 #		1,047
		Hellenic Republic
EUR	2,335	4.10%, 08/20/2012		3,375
		Japanese Government
JPY	34,506	1.00%, 06/10/2016		308
JPY	178,700	1.40%, 09/20/2011		1,630
		Polish Government
PLN	580	6.25%, 10/24/2015		239
		Singapore Government
SGD	725	3.63%, 07/01/2014		536
		South Africa (Republic of)
ZAR	2,750	8.25%, 09/15/2017		397
		Swedish Government
SEK	2,545	4.50%, 08/12/2015		399
		United Mexican States
	132	5.63%, 01/15/2017 #		134
	1,000	5.94%, 01/13/2009 (L)#		1,002
				31,114
		Health Care — 1.1%
		Amgen, Inc.
	1,390	5.13%, 11/28/2008 (I)(L)#		1,388
		AstraZeneca plc
	710	5.40%, 09/15/2012 #		734
		CVS Caremark Corp.
	375	5.42%, 06/01/2010 (L)#		371
	675	5.75%, 06/01/2017 #		679
		Schering-Plough Corp.
EUR	700	5.38%, 10/01/2014		1,005
				4,177
		Services — 0.6%
		Comcast Corp.
	530	5.45%, 11/15/2010 #		541
	800	5.54%, 07/14/2009 (L)#		797
		COX Communications, Inc.
	440	4.63%, 06/01/2013 #		421
		News America, Inc.
	235	6.15%, 03/01/2037 #		227
	430	6.63%, 01/09/2008 #		430
				2,416
		Technology — 1.5%
		Cingular Wireless Services, Inc.
	475	7.88%, 03/01/2011 #		514
		France Telecom S.A.
EUR	510	4.75%, 02/21/2017		701
		General Electric Co.
	630	5.00%, 02/01/2013 #		638
		IBM Corp.
	230	5.70%, 09/14/2017 #		238
		Siemens Finance
	1,330	4.92%, 08/14/2009 (I)(L)#		1,330
		Telecom Italia
EUR	300	5.38%, 01/29/2019 #		411
		Telecom Italia Finance S.A.
EUR	445	6.58%, 07/30/2009 #		662
		Time Warner Cable, Inc.
	935	5.85%, 05/01/2017 #		937
		Verizon New England, Inc.
	375	6.50%, 09/15/2011 #		394
				5,825
		Transportation — 0.1%
		CSX Corp.
	355	5.75%, 03/15/2013 #		359
		Utilities — 0.6%
		EDP Finance B.V.
	845	5.38%, 11/02/2012 (I)#		846
		Enel Finance International
	855	5.70%, 01/15/2013 (I)#		868
		NSTAR
	300	8.00%, 02/15/2010 #		321
		Virginia Electric & Power Co.
	185	5.95%, 09/15/2017 #		191
				2,226
		Total corporate bonds: investment grade (cost $85,413)	$	88,576
U.S. GOVERNMENT AGENCIES — 9.5%
		Federal Home Loan Mortgage Corporation — 1.7%
		Mortgage Backed Securities:
$	335	5.50%, 2019 — 2020 #	$	340
	4,201	5.50%, 2038 (Q)		4,192
	341	7.07%, 2029 (L)#		349
				4,881
		Remic — Pac’s:
	1,780	5.38%, 2036 (L)#		1,759
				6,640
		Federal National Mortgage Association — 7.2%
		Mortgage Backed Securities:
	979	4.72%, 2014 (L)#		982
	1,533	4.97%, 2013 #		1,555
	1,581	5.00%, 2019 — 2036		1,559
	3,007	5.00%, 2019 — 2035 #		2,990
	555	5.00%, 2038 (Q)		541
	2,064	5.50%, 2034 — 2036		2,062
	2,788	5.50%, 2034 — 2036 #		2,784
	13,000	5.50%, 2038 (Q)		12,984
	94	6.50%, 2013		98
	1,786	6.50%, 2036 #		1,836
	7	7.00%, 2029		8
				27,399

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

­ ­  88  ­ ­

Principal					Market
Amount					Value (W)
U.S. GOVERNMENT AGENCIES — (continued)
		Federal National Mortgage Association — (continued)
		Remic — Pac’s:
$	393	5.27%, 2036 (L)			$	387
						27,786
		Government National Mortgage Association — 0.6%
		Mortgage Backed Securities:
	1,191	5.00%, 2035 #				1,174
	387	6.00%, 2028 — 2035 #				398
	56	6.50%, 2028 #				58
	46	8.00%, 2029 — 2030 #				49
						1,679
		Remic — Pac’s:
	391	7.50%, 2035				419
						2,098
		Total U.S. government agencies (cost $36,304)			$	36,524
U.S. GOVERNMENT SECURITIES — 1.4%
		Other Direct Federal Obligations — 0.4%
		Federal Home Loan Bank:
$	1,430	4.50%, 2009 #			$	1,452
		U.S. Treasury Securities — 1.0%
		U.S. Treasury Notes:
	2,380	4.13%, 2012 (S)				2,450
	400	4.63%, 2016 (G)				419
	1,035	4.88%, 2011 #				1,091
						3,960
		Total U.S. government securities (cost $5,285)			$	5,412
		Total long-term investments (cost $323,615)			$	383,766
SHORT-TERM INVESTMENTS — 6.4%
		Finance — 1.5%
		Barclays Bank plc
$	1,085	5.20%, 03/10/2008			$	1,087
		BNP Paribas
	2,590	5.10%, 03/13/2008				2,593
		Calyon North America
	1,080	5.06%, 03/12/2008				1,081
		UBS NY
	1,080	5.10%, 03/13/2008				1,081
						5,842
		Repurchase Agreements — 2.7%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $2,423, collateralized by FNMA 5.00%, 2035, value of $2,471)
	2,422	4.50% dated 12/31/2007				2,422
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $22, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $22)
	22	1.35% dated 12/31/2007				22
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $6,744, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $6,877)
	6,742	4.75% dated 12/31/2007				6,742
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $951, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $970)
	951	4.60% dated 12/31/2007				951
						10,137
Shares
		Securities Purchased with Proceeds from Security Lending — 2.2%
		Cash Collateral Reinvestment Fund:
	8,466	Mellon GSL DBT II Collateral Fund (H)				8,466
		Total short-term investments (cost $24,438)			$	24,445
		Total investments (cost $348,053) (C)	106.2	%	$	408,211
		Other assets and liabilities	(6.2	)%		(23,989	)
		Total net assets	100.0	%	$	384,222

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 50.84% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $348,264 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	64,859
Unrealized Depreciation		(4,912	)
Net Unrealized Appreciation	$	59,947

#	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $90,501, which represents 23.55% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $12,879, which represents 3.35% of total net assets.
(L)	Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2007.

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

­ ­  89  ­ ­

Hartford Global Advisers HLS Fund

Schedule of Investments — (continued)

December 31, 2007

(000’s Omitted)

(Q)	The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2007 was $17,702.
(B)	All principal amounts are in U.S. dollars unless otherwise indicated.

AUD	— Australian Dollar
CAD	— Canadian Dollar
DKK	— Danish Krone
EUR	— Euro
GBP	— British Pound
JPY	— Japanese Yen
PLN	— Polish New Zloty
SEK	— Swedish Krona
SGD	— Singapore Dollar
ZAR	— South African Rand

(H) The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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
12/2006 – 12/2007		8,466	Mellon GSL DBT II Collateral Fund	$	8,466

	The aggregate value of these securities at December 31, 2007 was $8,466 which represents 2.20% of total net assets.
(S)	Security pledged as initial margin deposit for open futures contracts at December 31, 2007.
	Futures Contracts Outstanding at December 31, 2007

							Unrealized
	Number of				Expiration		Appreciation/
Description	Contracts*		Position		Month		(Depreciation)
2 Year U.S. Treasury Note		1		Short		Mar 2008	$	—
3 Year Australian Bond		4		Short		Mar 2008		1
5 Year U.S. Treasury Note		62		Short		Apr 2008		(6	)
10 Year Australian Bond		127		Long		Mar 2008		(47	)
10 Year Canadian Bond		69		Short		Mar 2008		(17	)
10 Year Japanese Bond		2		Short		Mar 2008		(11	)
10 Year U.S. Treasury Note		32		Short		Mar 2008		(35	)
90 Day Euro		22		Short		Mar 2008		(9	)
DJ Euro STOXX 50		66		Short		Mar 2008		(59	)
Eurex EURO-BOBL		24		Short		Mar 2008		25
Eurex EURO-BUND		7		Long		Mar 2008		—
Eurex EURO-BUXL		1		Long		Mar 2008		1
Eurex EURO-SCHATZ		14		Short		Mar 2008		15
FTSE 100 Index		26		Short		Mar 2008		(47	)
Long Gilt		34		Short		Mar 2008		(84	)
S&P 500 Index		166		Short		Mar 2008		(36	)
S&P/TSE 60 Index		9		Short		Mar 2008		(30	)
Topix Index		26		Short		Mar 2008		111
U.S. Long Bond		16		Long		Mar 2008		23
							$	(205	)

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

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Australian Dollar (Buy)	$	4,766	$	4,725		03/19/08	$	41
Australian Dollar (Buy)		1,081		1,089		03/19/08		(8	)
Australian Dollar (Sell)		799		802		03/19/08		3
Australian Dollar (Sell)		1,266		1,250		03/19/08		(16	)
British Pound (Buy)		6,624		6,790		03/19/08		(166	)
British Pound (Sell)		11,974		12,360		03/19/08		386
British Pound (Sell)		506		504		03/19/08		(2	)
British Pound (Sell)		1,918		1,945		03/20/08		27
British Pound (Sell)		1,381		1,375		03/20/08		(6	)
Canadian Dollar (Buy)		1,855		1,805		03/19/08		50
Canadian Dollar (Sell)		3,401		3,407		03/19/08		6
Canadian Dollar (Sell)		2,499		2,454		03/19/08		(45	)
Chinese Renminbi (Buy)		2,997		2,899		06/18/08		98
Chinese Renminbi (Sell)		2,997		2,929		06/18/08		(68	)
Czech Koruna (Sell)		395		399		03/19/08		4
Danish Krone (Buy)		423		424		01/03/08		(1	)
Danish Krone (Sell)		833		836		03/19/08		3
Euro (Buy)		261		261		01/03/08		—
Euro (Buy)		209		210		01/04/08		(1	)
Euro (Buy)		2,541		2,504		03/19/08		37
Euro (Buy)		14,527		14,631		03/19/08		(104	)
Euro (Sell)		57,991		58,932		03/19/08		941
Euro (Sell)		2,575		2,542		03/19/08		(33	)
Euro (Sell)		4,255		4,182		03/20/08		(73	)
Hungarian Forint (Buy)		218		217		03/19/08		1
Hungarian Forint (Buy)		251		252		03/19/08		(1	)
Hungarian Forint (Sell)		216		216		03/19/08		—
Hungarian Forint (Sell)		165		161		03/19/08		(4	)
Iceland Krona (Buy)		345		344		03/19/08		1
Iceland Krona (Buy)		334		338		03/19/08		(4	)
Iceland Krona (Sell)		492		494		03/19/08		2
Iceland Krona (Sell)		549		543		03/19/08		(6	)
Israeli New Shekel (Buy)		88		88		03/19/08		—
Israeli New Shekel (Sell)		190		189		03/19/08		(1	)
Japanese Yen (Sell)		1,405		1,408		03/13/08		3
Japanese Yen (Sell)		2,156		2,137		03/13/08		(19	)
Japanese Yen (Buy)		728		717		03/19/08		11
Japanese Yen (Buy)		1,691		1,719		03/19/08		(28	)
Japanese Yen (Sell)		2,959		3,010		03/19/08		51
Japanese Yen (Sell)		2,203		2,177		03/19/08		(26	)
Malaysian Ringgit (Buy)		2,966		2,924		03/19/08		42
Mexican Peso (Buy)		944		937		03/19/08		7
Mexican Peso (Sell)		944		936		03/19/08		(8	)
New Zealand Dollar (Buy)		732		720		03/19/08		12
New Zealand Dollar (Sell)		1,815		1,783		03/19/08		(32	)
Norwegian Krone (Buy)		1,445		1,437		03/19/08		8
Norwegian Krone (Buy)		728		731		03/19/08		(3	)
Norwegian Krone (Sell)		11		11		03/19/08		—
Norwegian Krone (Sell)		1,423		1,401		03/19/08		(22	)
Polish Zloty (Buy)		529		524		03/19/08		5
Polish Zloty (Sell)		695		687		03/19/08		(8	)
Republic of Korea Won (Buy)		1,070		1,076		03/19/08		(6	)
Republic of Korea Won (Sell)		50		50		03/19/08		—
Republic of Korea Won (Sell)		1,096		1,090		03/19/08		(6	)

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

­ ­  90  ­ ­

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Singapore Dollar (Sell)	$	546	$	538		03/19/08	$	(8	)
Slovakian Koruna (Buy)		31		32		03/19/08		(1	)
Slovakian Koruna (Sell)		31		32		03/19/08		1
South African Rand (Buy)		81		80		03/19/08		1
South African Rand (Buy)		1,406		1,409		03/19/08		(3	)
South African Rand (Sell)		865		866		03/19/08		1
South African Rand (Sell)		362		348		03/19/08		(14	)
Swedish Krona (Buy)		722		711		03/19/08		11
Swedish Krona (Buy)		4,605		4,722		03/19/08		(117	)
Swedish Krona (Sell)		5,031		5,108		03/19/08		77
Swiss Franc (Buy)		1,451		1,420		03/19/08		31
Swiss Franc (Buy)		1,460		1,491		03/19/08		(31	)
Swiss Franc (Sell)		1,274		1,300		03/19/08		26
							$	1,016

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Australia		0.7	%
Austria		0.3
Bermuda		0.8
Brazil		1.0
Canada		3.2
Chile		0.1
China		2.8
Denmark		0.8
Finland		1.1
France		5.2
Germany		7.4
Greece		1.6
Hong Kong		1.0
Ireland		1.3
Italy		0.1
Japan		3.2
Luxembourg		1.6
Mexico		1.0
Netherlands		1.2
Poland		0.1
Singapore		0.4
South Africa		0.1
South Korea		0.8
Spain		2.2
Sweden		0.1
Switzerland		3.6
Taiwan		0.7
United Kingdom		7.4
United States		50.0
Short-Term Investments		6.4
Other Assets and Liabilities		(6.2	)
Total		100.0	%

Forward Bonds Outstanding at December 31, 2007

											Unrealized
			Market		Contract		Delivery		Maturity		Appreciation/
Description	Transaction		Value (W)		Amount		Date		Date		(Depreciation)
Canadian Government, 4.00%		Buy	$	1,035	$	1,012		06/01/16		06/01/16	$	23
Canadian Government, 5.75%		Sell		3,912		3,775		06/01/33		06/01/33		(137	)
Deutschland Bundesrepublic, 3.75%		Buy		6,943		7,034		01/04/17		01/04/17		(91	)
Deutschland Bundesrepublic, 4.00%		Buy		7,310		7,611		01/04/37		01/04/37		(301	)
Deutschland Bundesrepublic, 5.50%		Buy		376		377		01/04/31		01/04/31		(1	)
French Government, 3.50%		Buy		3,546		3,571		07/12/11		07/12/11		(25	)
Japanese Government, 1.10%		Buy		1,737		1,764		12/10/16		12/10/16		(27	)
Japanese Government, 1.70%		Sell		1,776		1,774		12/20/16		12/20/16		(2	)
Japanese Government CPI Linked, 1.00%		Buy		3,782		3,842		06/10/16		06/10/16		(60	)
Japanese Government, 1.20%		Buy		3,021		2,935		09/20/11		09/20/11		86
Japanese Government, 1.40%		Buy		6,849		6,673		06/22/09		06/22/09		176
Japanese Government, 1.50%		Buy		8,580		8,316		03/20/14		03/20/14		264
Japanese Government, 1.80%		Buy		3,230		3,223		06/20/17		06/20/17		7
Japanese Government, 1.90%		Sell		3,684		3,729		06/20/16		06/20/16		45
Japanese Government, 2.10%		Buy		3,466		3,402		09/20/25		09/20/25		64
U.S. Treasury, 3.50%		Sell		4,532		4,508		01/15/11		01/15/11		(24	)
U.S. Treasury, 4.38%		Sell		4,866		4,855		08/15/12		08/15/12		(11	)
U.S. Treasury, 4.50%		Sell		2,854		2,838		02/15/36		02/15/36		(16	)
U.S. Treasury, 4.88%		Buy		6,834		6,836		08/15/09		08/15/09		(2	)
U.S. Treasury, 5.00%		Buy		6,009		5,996		02/15/11		02/15/11		13
U.S. Treasury, 5.38%		Buy		1,594		1,603		02/15/31		02/15/31		(9	)
UK Gilt Forward, 4.00%		Buy		2,006		2,056		09/07/16		09/07/16		(50	)
UK Gilt Forward, 4.25%		Buy		2,430		2,520		03/07/36		03/07/36		(90	)
United Kingdom Government, 5.00%		Buy		1,273		1,303		03/07/12		03/07/12		(30	)
											$	(198	)

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  91  ­ ­

Hartford Global Communications HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 92.6%
		Brazil — 4.4%
	33	Brasil Telecom S.A. ADR (G)	$	1,011
	16	Tele Norte Leste Participacoes S.A. ADR		310
				1,321
		Canada — 3.1%
	47	Nortel Networks Corp. (D)		705
	4	Telus Corp.		215
				920
		Egypt — 3.8%
	7	Mobinil-Egyptian Mobile Service		249
	11	Orascom Telecom Holding SAE GDR		888
				1,137
		France — 8.7%
	59	France Telecom S.A. (A)		2,115
	2	Iliad S.A. (A)		220
	5	Neuf Cegtel (A)		263
				2,598
		Indonesia — 2.1%
	15	P.T. Telekomunikasi Indonesia ADR (G)		626
		Israel — 3.7%
	8	Cellcom Israel Ltd.		245
	39	Partner Communications Co., Ltd. ADR		850
				1,095
		Japan — 1.5%
	—	Okinawa Cellular Telephone Co. (A)		437
		Luxembourg — 6.1%
	16	Millicom International Cellular S.A. (D)		1,828
		Mexico — 2.3%
	202	Megacable Holdings — CPO (D)		685
		Morocco — 0.0%
	1	Maroc Telecom (A)		13
		Norway — 6.3%
	79	Telenor ASA (A)		1,865
		Russia — 13.8%
	25	AFK Sistema GDR		1,052
	11	Mobile Telesystems OJSC ADR		1,160
	45	Vimpel-Communications ADR		1,889
				4,101
		South Africa — 4.8%
	66	MTN Group Ltd. (A)		1,237
	2	Telkom South Africa Ltd. ADR (G)		177
				1,414
		Spain — 7.3%
	22	Telefonica S.A. ADR		2,186
		Taiwan — 2.1%
	462	Taiwan Mobile Co., Ltd. (A)		615
		Turkey — 4.6%
	50	Turkcell Iletisim Hizmetleri ADR (G)		1,373
		United Kingdom — 1.4%
	48	Cable & Wireless plc (A)		177
	97	Thus Group plc (A)(D)		253
				430
		United States — 16.6%
	78	Arris Group, Inc. (D)		775
	34	Atlantic Tele-Network, Inc.		1,152
	14	CommScope, Inc. (D)		689
	36	NII Holdings, Inc. Class B (D)		1,720
	30	Time Warner Telecom, Inc. Class A��(D)		599
				4,935
		Total common stock (cost $21,002)	$	27,579
WARRANTS — 3.1%
		India — 3.1%
	36	Citigroup Global Certificate — Bharti Televentures (H)	$	907
		Total warrants (cost $273)	$	907
PREFERRED STOCK — 2.2%
		Brazil — 2.2%
	17	Telemar Norte Leste S.A.	$	666
		Total preferred stock (cost $376)	$	666
		Total long-term investments (cost $21,651)	$	29,152
Principal
Amount
SHORT-TERM INVESTMENTS — 6.0%
		Repurchase Agreements — 0.1%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $6, collateralized by FNMA 5.00%, 2035, value of $7)
$	6	4.50% dated 12/31/2007	$	6
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $-, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $—)
	—	1.35% dated 12/31/2007		—
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $18, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $18)
	18	4.75% dated 12/31/2007		18
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $3, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $3)
	3	4.60% dated 12/31/2007		3
				27

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

­ ­  92  ­ ­

Shares
SHORT-TERM INVESTMENTS — (continued)
Shares
		Securities Purchased with Proceeds from Security Lending — 5.9%
		Cash Collateral Reinvestment Fund:
	1,767	Goldman Sachs FS Prime Obligation/Institutional Fund				1,767
		Total short-term investments (cost $1,794)			$	1,794
		Total investments (cost $23,445) (C)	103.9	%	$	30,946
		Other assets and liabilities	(3.9	)%		(1,148	)
		Total net assets	100.0	%	$	29,798

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 81.27% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $23,849 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	8,958
Unrealized Depreciation		(1,861	)
Net Unrealized Appreciation	$	7,097

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $7,195, which represents 24.15% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(H)	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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
08/2005		36	Citigroup Global Certificate — Bharti Televentures - 144A	$	273

The aggregate value of these securities at December 31, 2007 was $907 which represents 3.04% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Euro (Sell)	$	54	$	54		01/04/08	$	—
South African Rand (Sell)		33		33		01/08/08		—
							$	—

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Communications Equipment Manufacturing		6.1	%
Electrical Equipment Manufacturing — Component Other		3.2
Internet Providers & Web Search Portal		1.6
Other Telecommunications		37.6
Telecommunication Resellers		0.1
Wired Telecommunications Carriers		3.5
Wireless Communications Services		13.6
Wireless Telecommunications Carriers		32.2
Short-Term Investments		6.0
Other Assets and Liabilities		(3.9	)
Total		100.0	%

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  93  ­ ­

Hartford Global Financial Services HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

					Market
Shares					Value (W)
COMMON STOCK — 95.4%
		Australia — 1.9%
	22	Westpac Banking Corp. (A)			$	540
		Canada — 9.7%
	15	Bank of Montreal				845
	9	Bank of Nova Scotia				479
	4	Canadian Imperial Bank of Commerce				257
	19	Canadian Western Bank				605
	30	First National Financial, Inc.				417
	5	Gluskin Sheff Associates, Inc.				138
						2,741
		France — 3.0%
	21	Axa S.A. (A)				846
		Germany — 2.6%
	4	Muenchener Rueckversicherungs-Gesellschaft AG (A)				734
		Italy — 7.8%
	111	Intesa Sanpaolo (A)				871
	163	UniCredito Italiano S.p.A. (A)				1,341
						2,212
		Liechtenstein — 2.4%
	3	Verwalt & Privat-Bank AG (A)				661
		Netherlands — 7.9%
	36	Aegon N.V. (A)				628
	30	ING Groep N.V. (A)				1,154
	19	SNS Reaal (A)				436
						2,218
		Norway — 1.3%
	27	Sparebanken Midt-Norge (A)				353
		South Africa — 1.6%
	96	African Bank Investments, Ltd. (A)				463
		Switzerland — 13.5%
	23	Julius Baer Holding Ltd. (A)				1,853
	12	Paris RE Holdings Ltd. (D)				243
	1	Swiss Life Holding (A)				304
	31	UBS AG (A)				1,416
						3,816
		United Kingdom — 8.4%
	167	Aberdeen Asset Management plc (A)				551
	43	Lloyds TSB Group plc (A)				405
	263	Old Mutual plc (A)				875
	14	Standard Chartered plc (A)				529
						2,360
		United States — 35.3%
	10	ACE Ltd.				630
	2	Alleghany Corp. (D)				781
	31	Bank of America Corp.				1,267
	20	Capital One Financial Corp.				944
	30	Citigroup, Inc.				893
	12	Citizens Republic Bancorp, Inc.				175
	16	Commerce Bancorp, Inc.				622
	25	Discover Financial Services				377
	46	Invesco Ltd.				1,458
	32	Och-Ziff Capital Management Group				843
	47	Popular, Inc. (G)				496
	44	Sterling Financial Corp. (G)				714
	17	Unum Group				414
	11	Webster Financial Corp.				342
						9,956
		Total common stock (cost $24,775)			$	26,900
PREFERRED STOCK — 1.9%
		Brazil — 1.9%
	21	Banco Itau Holding			$	534
		Total preferred stock (cost $385)			$	534
		Total long-term investments (cost $25,160)			$	27,434
Principal
Amount
SHORT-TERM INVESTMENTS — 3.9%
		Repurchase Agreements — 2.5%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $168, collateralized by FNMA 5.00%, 2035, value of $171)
$	168	4.50% dated 12/31/2007			$	168
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $2, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $2)
	1	1.35% dated 12/31/2007				1
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $467, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $476)
	467	4.75% dated 12/31/2007				467
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $66, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $67)
	66	4.60% dated 12/31/2007				66
						702
Shares
		Securities Purchased with Proceeds from Security Lending — 1.4%
		Cash Collateral Reinvestment Fund:
	400	Mellon GSL DBT II Collateral Fund (H)				400
		Total short-term investments (cost $1,102)			$	1,102
		Total investments (cost $26,262) (C)	101.2	%	$	28,536
		Other assets and liabilities	(1.2	)%		(326	)
		Total net assets	100.0	%	$	28,210

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

­ ­  94  ­ ­

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 61.95% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $26,294 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	4,032
Unrealized Depreciation		(1,790	)
Net Unrealized Appreciation	$	2,242

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $13,960, which represents 49.49% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(H)	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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
1/2007 – 12/2007		400	Mellon GSL DBT II Collateral Fund	$	400

The aggregate value of these securities at December 31, 2007 was $400 which represents 1.42% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
South African Rand (Sell)	$	30	$	30		01/04/08	$	—
South African Rand (Sell)		28		28		01/08/08		—
							$	—

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Commercial Banking		12.0	%
Consumer Lending		1.6
Depository Credit Banking		23.0
Insurance Carriers		18.3
International Trade Financing (Foreign Banks)		18.1
Nondepository Credit Banking		4.7
Other Financial Investment Activities		7.4
Real Estate Credit (Mortgage Banking)		1.5
Securities, Commodities and Brokerage		10.7
Short-Term Investments		3.9
Other Assets and Liabilities		(1.2	)
Total		100.0	%

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

­ ­  95  ­ ­

Hartford Global Growth HLS Fund (formerly Hartford Global Leaders HLS Fund)

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 98.5%
		Basic Materials — 6.5%
	477	BHP Billiton plc (A)	$	14,545
	300	Cameco Corp.		11,923
	398	Companhia Vale do Rio Doce ADR		12,990
	99	Potash Corp. of Saskatchewan		14,252
	156	Praxair, Inc.		13,856
	269	Xstrata plc (A)		18,882
				86,448
		Capital Goods — 4.6%
	94	Alstom RGPT (A)		20,149
	151	Boeing Co.		13,180
	305	Gamesa Corporacion Tecnologica S.A. (A)		14,093
	130	Vestas Wind Systems A/S (A)(D)		14,086
				61,508
		Consumer Cyclical — 7.4%
	522	Arcandor AG (A)(D)(G)		12,472
	3,591	China Communications Construction Co., Ltd. (A)		9,284
	172	Daimler AG (A)		16,697
	95	LG Electronics, Inc. (A)(D)		10,081
	52	Nintendo Co., Ltd. (A)		30,767
	2,021	Tesco plc (A)		19,222
				98,523
		Consumer Staples — 4.4%
	3	Japan Tobacco, Inc. (A)		15,450
	48	Nestle S.A. (A)		22,027
	364	Reckitt Benckiser Group plc (A)		21,143
				58,620
		Energy — 7.4%
	115	Diamond Offshore Drilling, Inc. (G)		16,316
	217	Schlumberger Ltd.		21,297
	712	Seadrill Ltd. (A)(D)(G)		17,193
	230	Suncor Energy, Inc. (G)		25,158
	252	Ultra Petroleum Corp. (D)		18,011
				97,975
		Finance — 14.1%
	2,059	Alibaba.com Ltd. (D)(G)		7,301
	521	Bolsa De Mercadorias e Futuros (D)		7,319
	2,845	China Merchants Bank Co., Ltd. (A)		11,446
	110	Deutsche Boerse AG (A)(G)		21,807
	93	Erste Bank Der Oesterreichischen Sparkassen AG (A)		6,593
	62	Goldman Sachs Group, Inc.		13,355
	935	Invesco Ltd.		29,332
	265	Julius Baer Holding Ltd. (A)		21,756
	2,047	Man Group plc (A)		23,239
	499	MF Global Ltd. (D)		15,710
	210	National Bank of Greece (A)		14,372
	699	Sun Hung Kai Properties Ltd. (A)		14,681
				186,911
		Health Care — 7.0%
	695	Elan Corp. plc ADR (D)		15,278
	360	Gilead Sciences, Inc. (D)		16,577
	233	Monsanto Co.		26,064
	670	Schering-Plough Corp.		17,838
	413	St. Jude Medical, Inc. (D)		16,797
				92,554
		Services — 3.4%
	342	Cognizant Technology Solutions Corp. (D)		11,621
	258	Focus Media Holding Ltd. ADR (D)(G)		14,669
	185	Las Vegas Sands Corp. (D)(G)		19,064
				45,354
		Technology — 35.1%
	685	ABB Ltd. (A)		19,751
	235	America Movil S.A.B. de C.V. ADR		14,408
	297	American Tower Corp. Class A (D)		12,636
	122	Apple, Inc. (D)		24,186
	403	ASML Holding N.V. (A)		12,713
	435	Broadcom Corp. Class A (D)		11,379
	795	Cisco Systems, Inc. (D)		21,512
	718	Corning, Inc.		17,232
	240	Danaher Corp.		21,093
	553	Electronic Arts, Inc. (D)		32,283
	69	Google, Inc. (D)		47,505
	274	Hewlett-Packard Co.		13,811
	191	Hologic, Inc. (D)		13,117
	2,430	Hon Hai Precision Industry Co., Ltd. (A)		14,975
	388	Logitech International S.A. (A)(D)		14,181
	662	MetroPCS Communications, Inc. (D)(G)		12,876
	452	Microsoft Corp.		16,088
	199	Millicom International Cellular S.A. (D)(G)		23,494
	598	Nokia Corp.		22,953
	958	Oracle Corp. (D)		21,627
	436	Qualcomm, Inc.		17,153
	67	Research In Motion Ltd. (D)		7,598
	158	Siemens AG (A)(G)		25,070
	441	Sumco Corp. (A)(G)		12,532
	512	Telefonica S.A. (A)		16,599
				466,772
		Transportation — 2.4%
	228	General Dynamics Corp.		20,290
	286	Ryanair Holdings plc ADR (D)(G)		11,268
				31,558
		Utilities — 6.2%
	2,095	Iberdrola Renovables (D)		17,305
	105	Sunpower Corp. (D)(G)		13,730
	302	Suntech Power Holdings Co., Ltd. ADR (D)(G)		24,836
	289	Veolia Environment S.A. (A)(G)		26,307
				82,178
		Total common stock (cost $983,406)	$	1,308,401

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

­ ­  96  ­ ­

Principal
Amount
SHORT-TERM INVESTMENTS — 13.5%
		Repurchase Agreements — 1.9%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $6,028, collateralized by FNMA 5.00%, 2035, value of $6,147)
$	6,027	4.50% dated 12/31/2007			$	6,027
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $54, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $55)
	54	1.35% dated 12/31/2007				54
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $16,775, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $17,106)
	16,771	4.75% dated 12/31/2007				16,771
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $2,366, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $2,413)
	2,365	4.60% dated 12/31/2007				2,365
						25,217
Shares
		Securities Purchased with Proceeds from Security Lending — 11.6%
		Cash Collateral Reinvestment Fund:
	154,562	Navigator Prime Portfolio				154,562
		Total short-term investments (cost $179,779)			$	179,779
		Total investments (cost $1,163,185) (C)	112.0	%	$	1,488,180
		Other assets and liabilities	(12.0	)%		(159,549	)
		Total net assets	100.0	%	$	1,328,631

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 55.91% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $1,163,922 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	345,028
Unrealized Depreciation		(20,770	)
Net Unrealized Appreciation	$	324,258

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $512,113, which represents 38.54% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Danish Krone (Buy)	$	2,547	$	2,551		01/03/08	$	(4	)
Euro (Buy)		1,606		1,607		01/03/08		(1	)
Euro (Buy)		1,242		1,249		01/04/08		(7	)
							$	(12	)

 (W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Austria		0.5	%
Bermuda		1.3
Brazil		1.5
Canada		4.4
China		4.5
Denmark		1.1
Finland		1.7
France		3.5
Germany		5.7
Greece		1.1
Hong Kong		1.7
Ireland		2.0
Japan		4.4
Luxembourg		1.8
Mexico		1.1
Netherlands		1.0
South Korea		0.8
Spain		3.6
Switzerland		5.8
Taiwan		1.1
United Kingdom		7.3
United States		42.6
Short-Term Investments		13.5
Other Assets and Liabilities		(12.0	)
Total		100.0	%

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

­ ­  97  ­ ­

Hartford Global Health HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 99.6%
		Data Processing Services — 0.4%
	66	IMS Health, Inc.	$	1,523
		Drugs & Druggists Sundries Wholesalers — 1.6%
	99	McKesson Corp.		6,492
		Electromedical Manufacturing — 7.9%
	115	Beckman Coulter, Inc.		8,365
	452	Medtronic, Inc.		22,712
				31,077
		General Medical and Surgical Hospitals — 1.7%
	575	Health Management Associates, Inc. Class A		3,438
	62	Universal Health Services, Inc. Class B		3,190
				6,628
		Health and Personal Care Stores — 1.0%
	86	Longs Drug Stores Corp.		4,061
		Individual and Family Services — 0.3%
	110	Amil Participacoes S.A. (D)		1,005
		Insurance Carriers — 8.5%
	142	Aetna, Inc.		8,198
	102	Health Net, Inc. (D)		4,946
	198	UnitedHealth Group, Inc.		11,517
	104	Wellpoint, Inc. (D)		9,106
				33,767
		Medical and Diagnostic Laboratories — 0.7%
	151	DiaSorin S.p.A. (A)(D)		2,946
		Medical Equipment & Supplies Manufacturing — 6.8%
	67	Becton, Dickinson & Co.		5,600
	153	Fresenius Medical Care AG ADR		8,044
	190	St. Jude Medical, Inc. (D)		7,730
	24	Synthes, Inc. (A)		3,039
	199	Volcano Corp. (D)		2,489
				26,902
		Other Ambulatory Health Care Services — 0.2%
	31	Odontoprev S.A.		761
		Other Textile Product Mills — 0.2%
	93	Cremer S.A. (D)		860
		Pharmaceutical & Medicine Manufacturing — 57.7%
	481	Abbott Laboratories		27,008
	152	Amylin Pharmaceuticals, Inc. (D)		5,613
	240	Astellas Pharma, Inc. (A)		10,413
	189	AstraZeneca plc ADR		8,110
	97	Barr Pharmaceuticals, Inc. (D)		5,124
	212	Bristol-Myers Squibb Co.		5,630
	130	Cephalon, Inc. (D)(G)		9,343
	66	Cougar Biotechnology PIPE (A)(H)		1,948
	447	Cytokinetics, Inc. (D)		2,112
	401	Daiichi Sankyo Co., Ltd. (A)		12,323
	251	Eisai Co., Ltd. (A)		9,831
	410	Elan Corp. plc ADR (D)		9,003
	139	Eli Lilly & Co.		7,400
	164	Forest Laboratories, Inc. (D)		5,963
	253	Gilead Sciences, Inc. (D)		11,641
	91	H. Lundbeck A/S (A)(G)		2,437
	138	Hospira, Inc. (D)		5,893
	61	Ipsen (A)		3,703
	110	Laboratorios Almiral S.A. (A)(D)		2,408
	87	MGI Pharma, Inc. (D)		3,514
	84	OSI Pharmaceuticals, Inc. (D)(G)		4,055
	110	PharMerica Corp. (D)(G)		1,527
	64	Profarma Distribuidora (D)		1,291
	367	Progenics Pharmaceuticals, Inc. (D)(G)		6,633
	254	Sanofi-Aventis S.A. ADR		11,557
	747	Schering-Plough Corp.		19,908
	559	Shionogi & Co., Ltd. (A)		9,911
	140	Teva Pharmaceutical Industries Ltd. ADR		6,489
	217	UCB S.A. (A)		9,841
	166	Vertex Pharmaceuticals, Inc. (D)		3,847
	85	Wyeth		3,756
				228,232
		Professional Services — Computer System Design and Related — 1.1%
	170	Eclipsys Corp. (D)		4,313
		Scientific Research & Development Services — 11.5%
	375	Applera Corp. — Celera Group (D)		5,956
	250	Exelixis, Inc. (D)		2,153
	135	Genentech, Inc. (D)		9,034
	611	Human Genome Sciences, Inc. (D)(G)		6,376
	276	Incyte Corp. (D)		2,777
	222	Medicines Co. (D)		4,250
	436	Millennium Pharmaceuticals, Inc. (D)		6,531
	134	Regeneron Pharmaceuticals, Inc. (D)		3,246
	725	Vermillion, Inc. (D)		580
	7	WuXi PharmaTech Cayman, Inc. (D)(G)		207
	361	ZymoGenetics, Inc. (D)(G)		4,212
				45,322
		Total common stock (cost $346,260)	$	393,889
Principal
Amount
SHORT-TERM INVESTMENTS — 7.1%
		Repurchase Agreements — 0.4%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $398, collateralized by FNMA 5.00%, 2035, value of $406)
$	398	4.50% dated 12/31/2007	$	398
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $4, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $4)
	4	1.35% dated 12/31/2007		4
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,109, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $1,131)
	1,109	4.75% dated 12/31/2007		1,109

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

­ ­  98  ­ ­

Principal					Market
Amount					Value (W)
SHORT-TERM INVESTMENTS — (continued)
		Repurchase Agreements — (continued)
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $156, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $159)
$	156	4.60% dated 12/31/2007			$	156
						1,667
Shares
		Securities Purchased with Proceeds from Security Lending — 6.7%
		Cash Collateral Reinvestment Fund:
	26,452	Goldman Sachs FS Prime Obligation/Institutional Fund				26,452
		Total short-term investments (cost $28,119)			$	28,119
		Total investments (cost $374,379) (C)	106.7	%	$	422,008
		Other assets and liabilities	(6.7	)%		(26,549	)
		Total net assets	100.0	%	$	395,459

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 28.10% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $375,516 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	58,905
Unrealized Depreciation		(12,413	)
Net Unrealized Appreciation	$	46,492

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $68,800, which represents 17.40% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(H)	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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
12/14/07		66	Cougar Biotechnology PIPE	$	1,920

	The aggregate value of these securities at December 31, 2007 was $1,948 which represents 0.49% of total net assets.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Belgium		2.5	%
Brazil		1.0
China		0.1
Denmark		0.6
France		3.9
Germany		2.0
Ireland		2.3
Israel		1.6
Italy		0.7
Japan		10.7
Spain		0.6
United Kingdom		2.1
United States		71.5
Short-Term Investments		7.1
Other Assets and Liabilities		(6.7	)
Total		100.0	%

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

­ ­  99  ­ ­

Hartford Global Technology HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 97.9%
		Activities Related to Credit Banking — 3.2%
	202	Western Union Co.	$	4,892
		Business Support Services — 1.4%
	56	Iron Mountain, Inc. (D)(G)		2,084
		Communications Equipment — 9.5%
	234	Cisco Systems, Inc. (D)		6,345
	202	Qualcomm, Inc.		7,949
				14,294
		Computer and Peripheral — 15.6%
	16	Apple, Inc. (D)		3,169
	157	Hewlett-Packard Co.		7,926
	815	Hon Hai Precision Industry Co., Ltd. (A)		5,022
	24	International Business Machines Corp.		2,627
	187	Network Appliance, Inc. (D)		4,675
				23,419
		Electrical Equipment Manufacturing — Component Other — 4.5%
	40	CommScope, Inc. (D)		1,949
	204	Corning, Inc.		4,887
				6,836
		Employment Services — 1.2%
	31	Manpower, Inc.		1,770
		Industrial Machinery — 1.1%
	46	Varian Semiconductor Equipment Associates, Inc. (D)		1,706
		Industrial Machinery and Equipment Rental and Leasing — 2.6%
	223	Comverse Technology, Inc. (D)		3,845
		Internet Providers & Web Search Portal — 0.7%
	185	Telecity Group plc (D)		1,103
		Internet Publishing and Broadcasting — 1.2%
	18	Equinix, Inc. (D)(G)		1,860
		Management, Scientific, and Technical Consulting Services — 2.4%
	62	Accenture Ltd. Class A		2,237
	42	Monster Worldwide, Inc. (D)(G)		1,345
				3,582
		On Line Information Services — 9.4%
	21	Google, Inc. (D)		14,175
		Professional & Commercial Equipment — 1.9%
	156	Ingram Micro, Inc. (D)		2,805
		Professional Services — Computer System Design and Related — 4.5%
	80	Automatic Data Processing, Inc.		3,571
	40	DST Systems, Inc. (D)(G)		3,269
				6,840
		Securities, Commodities and Brokerage — 0.0%
	20	Alibaba.com Ltd. (D)		72
		Semiconductor, Electronic Component Manufacturing — 14.5%
	135	Applied Materials, Inc.	$	2,399
	105	ASML Holding N.V. (A)		3,320
	253	Intel Corp.		6,740
	165	JDS Uniphase Corp. (D)(G)		2,189
	101	LAM Research Corp. (D)(G)		4,375
	104	Maxim Integrated Products, Inc.		2,764
				21,787
		Semiconductor, Electronic Components — 2.9%
	51	Broadcom Corp. Class A (D)		1,328
	117	Fairchild Semiconductor International, Inc. (D)		1,694
	149	ON Semiconductor Corp. (D)(G)		1,321
				4,343
		Software Publishers — 19.4%
	30	BMC Software, Inc. (D)		1,055
	133	Electronic Arts, Inc. (D)		7,769
	422	Microsoft Corp.		15,034
	101	Red Hat, Inc. (D)(G)		2,113
	27	Temenos Group AG (A)(D)		665
	67	VeriSign, Inc. (D)(G)		2,505
				29,141
		Wholesalers — Electrical and Electronic Merchandise — 1.7%
	25	LG Electronics, Inc. (A)(D)		2,619
		Wireless Communications Services — 0.2%
	51	Sonus Networks, Inc. (D)(G)		295
		Total common stock (cost $133,950)	$	147,468
EXCHANGE TRADED FUNDS — 1.3%
		Other Investment Pools and Funds — 1.3%
	33	Ishares Goldman Sachs Tech I Index Fund	$	1,978
		Total exchange traded funds (cost $1,994)	$	1,978
		Total long-term investments (cost $135,944)	$	149,446
Principal
Amount
SHORT-TERM INVESTMENTS — 12.5%
		Repurchase Agreements — 1.7%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $609, collateralized by FNMA 5.00%, 2035, value of $621)
$	609	4.50% dated 12/31/2007	$	609
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $5, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $6)
	5	1.35% dated 12/31/2007		5

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

­ ­  100  ­ ­

Principal
Amount
SHORT-TERM INVESTMENTS — (continued)
		Repurchase Agreements — (continued)
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,694, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $1,728)
$	1,694	4.75% dated 12/31/2007			$	1,694
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $239, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $244)
	239	4.60% dated 12/31/2007				239
						2,547
		Securities Purchased with Proceeds from Security Lending — 10.8%
		Cash Collateral Reinvestment Fund:
	16,216	Goldman Sachs FS Prime Obligation/Institutional Fund				16,216
		Total short-term investments (cost $18,763)			$	18,763
		Total investments (cost $154,707) (C)	111.7	%	$	168,209
		Other assets and liabilities	(11.7	)%		(17,606	)
		Total net assets	100.0	%	$	150,603

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 8.50% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $155,292 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	18,806
Unrealized Depreciation		(5,889	)
Net Unrealized Appreciation	$	12,917

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $11,626, which represents 7.72% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
British Pound (Sell)	$	49	$	49		01/03/08	$	—
Euro (Sell)		77		77		01/03/08		—
							$	—

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Hong Kong		0.1	%
Netherlands		2.2
South Korea		1.7
Switzerland		0.5
Taiwan		3.3
United Kingdom		0.7
United States		90.7
Short-Term Investments		12.5
Other Assets and Liabilities		(11.7	)
Total		100.0	%

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

­ ­  101  ­ ­

Hartford Growth HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 98.6%
		Basic Materials — 9.6%
	133	Agrium, Inc.	$	9,579
	133	Cameco Corp.		5,290
	162	Companhia Vale do Rio Doce ADR (G)		5,306
	62	Consol Energy, Inc.		4,447
	70	Freeport McMoRan Copper & Gold, Inc.		7,139
	52	Potash Corp. of Saskatchewan		7,531
	74	Steel Dynamics, Inc.		4,420
	55	United States Steel Corp.		6,635
	134	Vedanta Resources plc (A)		5,453
				55,800
		Capital Goods — 5.1%
	354	ABB Ltd. ADR		10,201
	48	Deere & Co.		4,459
	111	Gamesa Corporacion Tecnologica S.A. (A)		5,158
	71	Honeywell International, Inc.		4,358
	122	International Game Technology		5,378
				29,554
		Consumer Cyclical — 4.8%
	49	Foster Wheeler Ltd. (D)		7,632
	130	Kohl’s Corp. (D)		5,974
	133	NIKE, Inc. Class B		8,539
	151	Supervalu, Inc.		5,676
				27,821
		Consumer Staples — 1.5%
	12	Nestle S.A. (A)		5,547
	45	Procter & Gamble Co.		3,332
				8,879
		Energy — 5.0%
	109	EOG Resources, Inc.		9,686
	92	Halliburton Co.		3,484
	71	Transocean, Inc.		10,143
	76	Ultra Petroleum Corp. (D)		5,433
				28,746
		Finance — 10.3%
	124	AON Corp.		5,929
	165	Banco Itau Holding Financeira S.A. (G)		4,279
	13	CME Group, Inc.		8,678
	46	Franklin Resources, Inc.		5,251
	39	Goldman Sachs Group, Inc.		8,482
	244	Invesco Ltd. (G)		7,652
	230	MF Global Ltd. (D)(G)		7,245
	48	Wellpoint, Inc. (D)		4,239
	324	Western Union Co.		7,871
				59,626
		Health Care — 11.4%
	191	Abbott Laboratories		10,747
	232	Elan Corp. plc ADR (D)(G)		5,106
	76	Genentech, Inc. (D)		5,102
	86	Gilead Sciences, Inc. (D)		3,954
	85	McKesson Corp.		5,552
	194	Merck & Co., Inc.		11,299
	86	Monsanto Co.		9,637
	303	Schering-Plough Corp.		8,077
	142	Teva Pharmaceutical Industries Ltd. ADR		6,588
				66,062
		Services — 10.0%
	143	Accenture Ltd. Class A		5,147
	111	Apollo Group, Inc. Class A (D)		7,818
	86	Autodesk, Inc. (D)		4,295
	145	Automatic Data Processing, Inc.		6,452
	301	Cadence Design Systems, Inc. (D)		5,125
	97	Cognizant Technology Solutions Corp. (D)		3,308
	68	Fluor Corp. (G)		9,902
	152	Focus Media Holding Ltd. ADR (D)(G)		8,622
	168	Viacom, Inc. Class B (D)		7,397
				58,066
		Technology — 36.1%
	341	Altera Corp. (G)		6,592
	66	America Movil S.A.B. de C.V. ADR		4,043
	77	Apple, Inc. (D)		15,155
	136	AT&T, Inc.		5,636
	77	BMC Software, Inc. (D)		2,744
	186	Cisco Systems, Inc. (D)		5,033
	65	Danaher Corp.		5,685
	197	Electronic Arts, Inc. (D)		11,490
	29	Google, Inc. (D)		20,157
	206	Hewlett-Packard Co.		10,388
	111	Hologic, Inc. (D)(G)		7,618
	331	Intel Corp.		8,829
	199	Linear Technology Corp. (G)		6,333
	66	Lockheed Martin Corp.		6,896
	162	McAfee, Inc. (D)		6,090
	51	MEMC Electronic Materials, Inc. (D)		4,501
	213	MetroPCS Communications, Inc. (D)		4,142
	707	Microsoft Corp.		25,161
	208	Network Appliance, Inc. (D)		5,191
	156	Nokia Corp.		5,980
	571	Oracle Corp. (D)		12,898
	236	Qualcomm, Inc.		9,304
	27	Research In Motion Ltd. (D)		3,113
	64	Siemens AG		10,044
	156	VeriSign, Inc. (D)(G)		5,875
				208,898
		Transportation — 1.6%
	101	General Dynamics Corp.		8,993
		Utilities — 3.2%
	569	Iberdrola Renovables (D)		4,700
	34	Sunpower Corp. (D)		4,446
	114	Suntech Power Holdings Co., Ltd. ADR (D)(G)		9,385
				18,531
		Total common stock (cost $483,059)	$	570,976

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

­ ­  102  ­ ­

Principal					Market
Amount					Value (W)
SHORT-TERM INVESTMENTS — 9.3%
		Repurchase Agreements — 0.9%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,191, collateralized by FNMA 5.00%, 2035, value of $1,215)
$	1,191	4.50% dated 12/31/2007			$	1,191
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $11, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $11)
	11	1.35% dated 12/31/2007				11
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $3,315, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $3,380)
	3,314	4.75% dated 12/31/2007				3,314
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $468, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $477)
	467	4.60% dated 12/31/2007				467
						4,983
Shares
		Securities Purchased with Proceeds from Security Lending — 8.4%
		Cash Collateral Reinvestment Fund:
	48,910	Mellon GSL DBT II Collateral Fund (H)				48,910
		Total short-term investments (cost $53,893)			$	53,893
		Total investments (cost $536,952) (C)	107.9	%	$	624,869
		Other assets and liabilities	(7.9	)%		(45,897	)
		Total net assets	100.0	%	$	578,972

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 20.02% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $537,938 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	96,956
Unrealized Depreciation		(10,025	)
Net Unrealized Appreciation	$	86,931

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $16,158, which represents 2.79% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(H)	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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
12/2006 – 12/2007		48,910	Mellon GSL DBT II Collateral Fund	$	48,910

	The aggregate value of these securities at December 31, 2007 was $48,910 which represents 8.45% of total net assets.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  103  ­ ­

Hartford Growth Opportunities HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 98.5%
		Basic Materials — 13.7%
	327	Arch Coal, Inc. (G)		14,691
	472	Cameco Corp.		18,806
	562	Companhia Vale do Rio Doce ADR		18,371
	334	Consol Energy, Inc.		23,916
	160	FMC Corp.		8,714
	217	Freeport McMoRan Copper & Gold, Inc.		22,240
	415	Hercules, Inc.		8,030
	745	Jarden Corp. (D)		17,595
	2,476	Kingboard Chemical Holdings Ltd. (A)		14,628
	432	Owens-Illinois, Inc. (D)		21,374
	47	Rio Tinto plc ADR		19,609
	393	Steel Dynamics, Inc.		23,381
	173	United States Steel Corp.		20,905
				232,260
		Capital Goods — 6.7%
	235	Boeing Co.		20,579
	146	Cummins, Inc.		18,647
	237	Flowserve Corp.		22,785
	295	Honeywell International, Inc.		18,188
	388	Kennametal, Inc.		14,690
	457	Pall Corp.		18,434
				113,323
		Consumer Cyclical — 7.8%
	218	Altria Group, Inc.		16,446
	539	Dick’s Sporting Goods, Inc. (D)		14,949
	998	Gap, Inc.		21,229
	372	Kohl’s Corp. (D)		17,047
	485	Liz Claiborne, Inc.		9,865
	616	Newell Rubbermaid, Inc.		15,942
	309	PACCAR, Inc.		16,818
	537	Supervalu, Inc.		20,156
				132,452
		Consumer Staples — 1.3%
	598	Unilever N.V. NY Shares		21,811
		Energy — 9.7%
	727	Chesapeake Energy Corp.		28,494
	272	EOG Resources, Inc.		24,303
	119	Husky Energy, Inc.		5,372
	208	Lukoil ADR (G)		17,804
	315	Noble Corp.		17,795
	316	OAO Gazprom ADR		17,934
	104	Transocean, Inc.		14,852
	238	Ultra Petroleum Corp. (D)		17,031
	405	XTO Energy, Inc.		20,801
				164,386
		Finance — 9.5%
	302	Aetna, Inc.		17,452
	638	Aircastle Ltd.		16,785
	80	Blackrock, Inc. (G)		17,344
	685	Covanta Holding Corp. (D)		18,958
	851	Cyrela Brazil Realty S.A.		11,575
	587	Invesco Ltd. (G)		18,430
	362	UnitedHealth Group, Inc.		21,039
	204	Wellpoint, Inc. (D)		17,862
	858	Western Union Co.		20,837
				160,282
		Health Care — 9.7%
	484	Alkermes, Inc. (D)(G)		7,541
	437	Amylin Pharmaceuticals, Inc. (D)(G)		16,150
	408	Auxilium Pharmaceuticals, Inc. (D)(G)		12,248
	325	Cephalon, Inc. (D)(G)		23,336
	348	Charles River Laboratories International, Inc. (D)		22,879
	646	Elan Corp. plc ADR (D)		14,203
	288	Merck & Co., Inc.		16,747
	351	Pharmaceutical Product Development, Inc.		14,181
	917	Schering-Plough Corp.		24,429
	707	Shionogi & Co., Ltd. (A)		12,533
				164,247
		Services ��� 6.2%
	498	DreamWorks Animation SKG, Inc. (D)		12,719
	463	Focus Media Holding Ltd. ADR (D)(G)		26,326
	535	Iron Mountain, Inc. (D)		19,802
	117	Micros Systems (D)		8,187
	816	Tetra Technologies, Inc. (D)		17,542
	477	Viacom, Inc. Class B (D)		20,928
				105,504
		Technology — 30.6%
	862	Activision, Inc. (D)		25,595
	107	Apple, Inc. (D)		21,175
	282	BMC Software, Inc. (D)		10,058
	545	Citrix Systems, Inc. (D)		20,715
	424	Electronic Arts, Inc. (D)		24,743
	219	Equinix, Inc. (D)(G)		22,084
	507	FLIR Systems, Inc. (D)(G)		15,857
	152	Garmin Ltd. (G)		14,734
	65	Google, Inc. (D)		45,154
	343	Hewlett-Packard Co.		17,294
	375	Hologic, Inc. (D)(G)		25,726
	216	Lockheed Martin Corp.		22,757
	471	Logitech International S.A. (A)(D)		17,196
	511	McAfee, Inc. (D)		19,178
	296	MEMC Electronic Materials, Inc. (D)		26,211
	944	Microsoft Corp.		33,610
	643	Network Appliance, Inc. (D)		16,039
	412	Nuance Communications, Inc. (D)(G)		7,687
	235	NVIDIA Corp. (D)		7,993
	1,088	O2Micro International Ltd. ADR (D)		12,551
	1,115	Oracle Corp. (D)		25,183
	748	Qualcomm, Inc.		29,426
	427	SanDisk Corp. (D)		14,167
	194	Telefonica S.A. ADR		18,893
	614	VeriSign, Inc. (D)		23,081
				517,107
		Utilities — 3.3%
	168	Sunpower Corp. (D)(G)		21,880
	409	Suntech Power Holdings Co., Ltd. ADR (D)(G)		33,685
				55,565
		Total common stock (cost $1,398,605)	$	1,666,937

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

­ ­  104  ­ ­

					Market
Shares					Value (W)
SHORT-TERM INVESTMENTS — 10.4%
		Repurchase Agreements — 1.5%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $6,256, collateralized by FNMA 5.00%, 2035, value of $6,380)
$	6,255	4.50% dated 12/31/2007			$	6,255
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $56, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $58)
	56	1.35% dated 12/31/2007				56
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $17,410, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $17,754)
	17,405	4.75% dated 12/31/2007				17,405
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $2,455, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $2,504)
	2,455	4.60% dated 12/31/2007				2,455
						26,171
Shares
		Securities Purchased with Proceeds from Security Lending — 8.9%
		Cash Collateral Reinvestment Fund:
	150,093	Goldman Sachs FS Prime Obligation/Institutional Fund				150,093
		Total short-term investments (cost $176,264)			$	176,264
		Total investments (cost $1,574,869) (C)	108.9	%	$	1,843,201
		Other assets and liabilities	(8.9	)%		(150,167	)
		Total net assets	100.0	%	$	1,693,034

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 15.87% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $1,576,402 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	300,403
Unrealized Depreciation		(33,604	)
Net Unrealized Appreciation	$	266,799

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $44,357, which represents 2.62% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Hong Kong Dollar (Buy)	$	408	$	408		01/02/08	$	—
Hong Kong Dollar (Buy)		398		398		01/03/08		—
							$	—

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  105  ­ ­

Hartford High Yield HLS Fund

Schedule of Investments

December 31, 2007

(000’s Omitted)

Principal			Market
Amount			Value (W)
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 1.3%
		Finance — 0.4%
		CBA Commercial Small Balance Commercial Mortgage
$	22,563	9.75%, 01/25/2039 (H)(P)	$	2,256
		Soundview NIM Trust
	2,490	8.25%, 12/25/2036 (H)		498
				2,754
		Transportation — 0.9%
		Continental Airlines, Inc.
	1,295	6.80%, 08/02/2018		1,230
	2,624	7.37%, 12/15/2015		2,525
	2,154	8.39%, 11/01/2020		2,144
				5,899
		Total asset & commercial mortgage backed securities (cost $10,312)	$	8,653
CORPORATE BONDS: INVESTMENT GRADE — 1.4%
		Services — 1.4%
		Clear Channel Communications, Inc.
$	9,500	7.65%, 09/15/2010	$	9,758
		Total corporate bonds: investment grade (cost $9,602)	$	9,758
CORPORATE BONDS: NON-INVESTMENT GRADE — 76.7%
		Basic Materials — 8.4%
		Abitibi-Consolidated, Inc.
$	3,420	8.49%, 06/15/2011 (L)#	$	2,702
		AK Steel Corp.
	3,725	7.75%, 06/15/2012 (G)		3,744
		Aleris International, Inc.
	3,650	9.00%, 12/15/2014		3,048
		Berry Plastics Holding Co.
	2,000	8.87%, 09/15/2014 (G)(L)		1,870
		Bowater, Inc.
	3,205	7.99%, 03/15/2010 (L)		2,792
		Cooper Standard Automotive
	2,330	7.00%, 12/15/2012 (G)		2,018
		Domtar Corp.
	4,500	5.38%, 12/01/2013		4,061
		Freeport-McMoRan Copper & Gold, Inc.
	5,015	8.25%, 04/01/2015		5,316
		Georgia-Pacific Corp.
	3,875	7.00%, 01/15/2015 (I)		3,768
		Graham Packaging Co., Inc.
	3,060	9.88%, 10/15/2014 (G)		2,815
		Hexion Specialty Chemicals
	3,900	9.37%, 11/15/2014 (L)		3,978
		Huntsman International LLC
	2,325	7.88%, 11/15/2014 #		2,465
		Jarden Corp.
	2,150	7.50%, 05/01/2017		1,849
		MacDermid, Inc.
	5,085	9.50%, 04/15/2017 (I)		4,780
		New Page Corp.
	3,500	10.00%, 05/01/2012 (I)		3,518
		Nova Chemicals Corp.
	2,650	7.86%, 11/15/2013 (L)		2,478
		Potlatch Corp.
	1,350	13.00%, 12/01/2009 (H)(L)		1,525
		Steel Dynamics, Inc.
	2,800	7.38%, 11/01/2012 (I)		2,814
		Valmont Industries, Inc.
	2,100	6.88%, 05/01/2014		2,079
				57,620
		Capital Goods — 1.9%
		Bausch & Lomb, Inc.
	3,580	9.88%, 11/01/2015 (I)		3,634
		Bombardier, Inc.
	2,845	6.30%, 05/01/2014 (I)#		2,781
		L-3 Communications Corp.
	412	3.00%, 08/01/2035 (X)		498
		SPX Corp.
	1,840	7.63%, 12/15/2014 (I)		1,877
		Transdigm, Inc.
	3,700	7.75%, 07/15/2014		3,755
				12,545
		Consumer Cyclical — 7.8%
		Alliance One International, Inc.
	2,310	8.50%, 05/15/2012		2,252
		Amerigas Partners L.P.
	1,440	7.13%, 05/20/2016		1,397
	2,155	7.25%, 05/20/2015 #		2,112
		Aramark Corp.
	3,600	8.41%, 02/01/2015 (L)		3,510
		Buffalo Thunder
	3,825	9.38%, 12/15/2014 (I)		3,404
		Builders FirstSource, Inc.
	1,640	9.12%, 02/15/2012 (G)(L)		1,427
		Dollarama Group L.P.
	2,100	8.88%, 08/15/2012		2,142
		ESCO Corp.
	2,100	8.63%, 12/15/2013 (I)		2,100
		Ford Capital B.V.
	2,745	9.50%, 06/01/2010		2,587
		General Motors Corp.
	4,875	7.13%, 07/15/2013 (G)		4,229
	3,000	7.20%, 01/15/2011 (G)		2,760
		Ingles Markets, Inc.
	2,840	8.87%, 12/01/2011		2,883
		K. Hovnanian Enterprises, Inc.
	890	6.00%, 01/15/2010 (G)		574
		KB Home & Broad Home Corp.
	2,900	6.38%, 08/15/2011		2,653
		Michaels Stores, Inc.
	1,535	11.38%, 11/01/2016 (G)		1,408
		Neiman Marcus Group, Inc.
	4,000	10.38%, 10/15/2015 (G)		4,165
		Phillips Van-Heusen Corp.
	2,415	7.75%, 11/15/2023		2,458
		SGS International, Inc.
	3,240	12.00%, 12/15/2013		3,212

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

­ ­  106  ­ ­

Principal			Market
Amount			Value (W)
CORPORATE BONDS: NON-INVESTMENT GRADE — (continued)
		Consumer Cyclical — (continued)
		Stater Brothers Holdings, Inc.
$	2,435	8.13%, 06/15/2012 (G)	$	2,405
		Tenneco, Inc.
	2,905	8.63%, 11/15/2014 (G)		2,854
		TRW Automotive, Inc.
	1,375	7.00%, 03/15/2014 (G)(I)		1,265
	1,625	7.25%, 03/15/2017 (I)		1,458
				53,255
		Consumer Staples — 0.8%
		Appleton Papers, Inc.
	2,545	9.75%, 06/15/2014 #		2,520
		Constellation Brands, Inc.
	1,360	8.38%, 12/15/2014		1,363
		Dole Food Co., Inc.
	1,745	8.63%, 05/01/2009		1,684
				5,567
		Energy — 3.9%
		Chesapeake Energy Corp.
	1,339	2.75%, 11/15/2035 (X)		1,567
	1,520	6.63%, 01/15/2016		1,486
	3,685	7.63%, 07/15/2013		3,805
		Cie Gen Geophysique
	3,855	7.75%, 05/15/2017		3,893
		Encore Acquisition Co.
	2,295	7.25%, 12/01/2017 (G)		2,186
		Ferrell Gas Partners L.P.
	2,997	8.75%, 06/15/2012		3,079
		Hilcorp Energy I L.P./Finance Co.
	2,920	7.75%, 11/01/2015 (I)		2,869
		Inergy L.P.
	2,600	8.25%, 03/01/2016		2,691
		Key Energy Services Inc.
	2,010	8.38%, 12/01/2014 (I)		2,055
		Petrohawk Energy Corp.
	2,825	9.13%, 07/15/2013		2,973
				26,604
		Finance — 13.6%
		American Real Estate Partners L.P.
	3,250	7.13%, 02/15/2013 (G)		3,055
		Atlantic Broadband Finance LLC
	3,535	9.38%, 01/15/2014 #		3,323
		Dow Jones CDX HY
	15,000	8.75%, 12/29/2012 (G)(I)		14,794
		El Paso Performance-Linked Trust
	3,440	7.75%, 07/15/2011 (I)		3,530
		Ford Motor Credit Co.
	1,470	7.38%, 02/01/2011		1,316
	11,325	7.99%, 01/13/2012 (L)		9,513
		General Motors Acceptance Corp.
	23,525	6.88%, 09/15/2011		20,125
		Hertz Corp.
	4,640	10.50%, 01/01/2016 (G)		4,802
		Host Marriott L.P.
	2,800	6.75%, 06/01/2016		2,758
		LPL Holdings, Inc.
	5,320	10.75%, 12/15/2015 (H)		5,267
		LVB Acquisition Merger Sub, Inc.
	3,400	10.37%, 10/15/2017 (G)(I)(L)		3,392
		Northern Rock plc
	2,250	5.60%, 04/30/2049 (I)		1,395
		Pinnacle Foods Finance LLC
	4,625	10.63%, 04/01/2017 (G)(I)		3,977
		Rainbow National Services LLC
	2,269	10.38%, 09/01/2014 (I)		2,459
		Realogy Corp.
	3,955	10.50%, 04/15/2014 (G)(I)		2,956
		Rental Service Corp.
	2,900	9.50%, 12/01/2014 (G)		2,596
		Residential Capital Corp.
	9,400	7.88%, 06/30/2010		6,016
		United Rentals NA, Inc.
	1,320	6.50%, 02/15/2012		1,198
	370	7.00%, 02/15/2014		310
				92,782
		Health Care — 5.2%
		Community Health Systems, Inc.
	3,935	8.88%, 07/15/2015		4,009
		HCA, Inc.
	6,245	9.25%, 11/15/2016		6,557
		IASIS Healthcare Capital Corp.
	4,400	8.75%, 06/15/2014 #		4,400
		Invacare Corp.
	3,725	9.75%, 02/15/2015 (G)		3,772
		Multiplan Corp.
	3,950	10.38%, 04/15/2016 (I)		3,930
		Psychiatric Solutions, Inc.
	635	7.75%, 07/15/2015		634
		Reable Therapeutics Finance LLC
	3,600	11.75%, 11/15/2014		3,276
		Rite Aid Corp.
	2,100	7.50%, 03/01/2017		1,851
	4,375	9.50%, 06/15/2017 (G)		3,620
		Skilled Healthcare Group, Inc.
	1,762	11.00%, 01/15/2014		1,885
		Warner Chilcott Corp.
	1,640	8.75%, 02/01/2015		1,689
				35,623
		Services — 12.8%
		Affinion Group, Inc.
	3,855	11.50%, 10/15/2015		3,783
		Allied Waste North America, Inc.
	2,590	6.88%, 06/01/2017 (G)		2,525
		AMC Entertainment, Inc.
	2,420	11.00%, 02/01/2016 (G)		2,547
		Cablevision Systems Corp.
	2,300	8.00%, 04/15/2012 (G)		2,231
		Dex Media West LLC, Inc.
	2,020	8.00%, 11/15/2013 #		1,899
	5,277	9.88%, 08/15/2013 #		5,488

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

­ ­  107  ­ ­

Hartford High Yield HLS Fund

Schedule of Investments — (continued)

December 31, 2007

(000’s Omitted)

Principal			Market
Amount			Value (W)
CORPORATE BONDS: NON-INVESTMENT GRADE — (continued)
		Services — (continued)
		DirecTV Holdings LLC
$	2,200	6.38%, 06/15/2015	$	2,112
	2,000	8.38%, 03/15/2013		2,080
		Echostar DBS Corp.
	2,900	6.63%, 10/01/2014 (G)		2,886
		Education Management LLC
	3,000	10.25%, 06/01/2016 (G)		3,090
		Harland Clarke Holdings
	3,745	9.50%, 05/15/2015 (G)		3,239
		Harrah’s Operating Co., Inc.
	3,715	5.63%, 06/01/2015		2,712
		Idearc, Inc.
	3,530	8.00%, 11/15/2016		3,239
		Liberty Media Corp.
	2,900	8.25%, 02/01/2030 (G)		2,783
		MGM Mirage, Inc.
	2,655	6.75%, 09/01/2012		2,585
	4,360	7.50%, 06/01/2016		4,316
	1,750	8.50%, 09/15/2010		1,816
		Pinnacle Entertainment, Inc.
	2,980	7.50%, 06/15/2015 (I)		2,704
	1,700	8.75%, 10/01/2013 (G)		1,730
		Quebecor Media, Inc.
	3,650	7.75%, 03/15/2016 (I)		3,504
		Reader’s Digest Association, Inc.
	3,065	9.00%, 02/15/2017 (I)		2,567
		Sheridan Group, Inc.
	3,600	10.25%, 08/15/2011		3,600
		Sirius Satellite Radio, Inc.
	3,500	9.63%, 08/01/2013 (G)		3,308
		Station Casinos, Inc.
	3,415	7.75%, 08/15/2016 (G)		3,082
		SunGard Data Systems, Inc.
	6,550	10.25%, 08/15/2015		6,697
		TL Acquisitions, Inc.
	4,510	10.50%, 01/15/2015 (I)		4,335
		West Corp.
	3,050	9.50%, 10/15/2014		2,989
		Wynn Las Vegas LLC
	1,145	6.63%, 12/01/2014		1,125
	2,505	6.63%, 12/01/2014 (G)(I)		2,461
				87,433
		Technology — 13.3%
		Advanced Micro Devices, Inc.
	3,140	7.75%, 11/01/2012 (G)		2,732
		Broadview Networks Holdings, Inc.
	2,720	11.38%, 09/01/2012		2,836
		Canwest MediaWorks L.P.
	4,560	9.25%, 08/01/2015 (G)(I)		4,463
		CCH I Holdings LLC
	3,750	9.92%, 04/01/2014 (G)		2,198
		Charter Communications Operating LLC
	1,810	8.00%, 04/30/2012 (I)		1,747
		Cincinnati Bell, Inc.
	985	7.25%, 07/15/2013		987
		Citizens Communications Co.
	3,650	7.88%, 01/15/2027		3,477
		CSC Holdings, Inc.
	5,420	7.63%, 04/01/2011 #		5,406
	2,000	8.13%, 08/15/2009		2,035
		Freescale Semiconductor, Inc.
	1,920	8.87%, 12/15/2014 (L)		1,632
	2,100	9.13%, 12/15/2014		1,785
	3,790	10.13%, 12/15/2016 (G)		3,127
		General Cable Corp.
	2,725	7.61%, 04/01/2015 (L)		2,589
		Intelsat Bermuda Ltd.
	1,500	8.89%, 01/15/2015 (L)		1,504
	1,375	9.25%, 06/15/2016		1,382
		Intelsat Bermuda Ltd.
	6,035	11.25%, 06/15/2016 #		6,231
		Leap Wireless International, Inc.
	2,880	9.38%, 11/01/2014		2,700
		Level 3 Financing, Inc.
	1,850	9.25%, 11/01/2014 (G)		1,674
	2,205	12.25%, 03/15/2013 (G)		2,227
		MagnaChip Semiconductor
	2,160	6.88%, 12/15/2011 (G)		1,817
		Mediacom LLC
	2,400	9.50%, 01/15/2013		2,229
		MetroPCS Wireless, Inc.
	2,875	9.25%, 11/01/2014		2,703
		Momentive Performance
	4,510	9.75%, 12/01/2014 (I)		4,149
		Nortel Networks Ltd.
	5,300	10.75%, 07/15/2016 (G)(I)		5,565
		NXP B.V./NXP Funding LLC
	2,175	7.99%, 10/15/2013 (G)(L)		2,001
		Qwest Communications International, Inc.
	6,570	7.50%, 02/15/2014 (G)		6,554
		Sanmina-Sci Corp.
	3,600	7.74%, 06/15/2014 (I)(L)		3,469
		Spansion LLC
	3,600	8.25%, 06/01/2013 (I)(L)		3,240
		Wind Acquisition
EUR	1,600	9.75%, 12/01/2015 (I)		2,503
		Windstream Corp.
	5,600	8.63%, 08/01/2016		5,880
				90,842
		Transportation — 1.0%
		Bristow Group, Inc.
	1,620	7.50%, 09/15/2017 (I)		1,628
		Continental Airlines, Inc.
	3,072	7.03%, 06/15/2011		2,982
		PHI, Inc.
	2,315	7.13%, 04/15/2013		2,222
				6,832
		Utilities — 8.0%
		AES Corp.
	3,660	8.00%, 10/15/2017 (I)		3,742
	3,600	9.50%, 06/01/2009		3,726

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

­ ­  108  ­ ­

Principal			Market
Amount			Value (W)
CORPORATE BONDS: NON-INVESTMENT GRADE — (continued)
		Utilities — (continued)
		Copano Energy LLC
$	2,900	8.13%, 03/01/2016	$	2,922
		Dynegy Holdings, Inc.
	1,610	7.75%, 06/01/2019 (G)		1,485
	3,500	8.75%, 02/15/2012 (G)		3,535
		Edison Mission Energy
	2,070	7.20%, 05/15/2019		2,034
	3,400	7.50%, 06/15/2013		3,485
		Energy Future Holdings
	4,500	10.88%, 11/01/2017 (G)(I)		4,523
		Markwest Energy Partners L.P.
	2,690	8.50%, 07/15/2016		2,703
		Mirant North America LLC
	3,600	7.38%, 12/31/2013		3,609
		NRG Energy, Inc.
	2,075	7.25%, 02/01/2014		2,023
	6,820	7.38%, 02/01/2016		6,650
		Reliant Energy, Inc.
	2,900	6.75%, 12/15/2014		2,907
	2,100	7.63%, 06/15/2014		2,079
		Texas Competitive Electric Co.
	6,000	10.25%, 11/01/2015 (I)		5,940
		Williams Partners L.P.
	3,015	7.25%, 02/01/2017		3,105
				54,468
		Total corporate bonds: non-investment grade (cost $545,025)	$	523,571
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE (V) — 11.4%
		Capital Goods — 0.5%
		Rexnord Holdings, Inc.
$	2,392	9.02%, 03/01/2013 (AA)	$	2,153
		Targus Group International
	1,453	8.41%, 11/22/2012 (N)		1,315
				3,468
		Consumer Cyclical — 4.2%
		American Axle & Manufacturing Holdings, Inc.
	2,695	7.34%, 06/14/2012 (N)		2,493
		Appleseed’s Brands
	3,383	8.52%, 06/25/2013 (H)(N)		3,045
		Dollar General Corp.
	3,350	7.71%, 07/03/2014 (N)		3,066
		Ford Motor Co.
	14,531	8.00%, 12/15/2013 (N)		13,425
		Hanesbrands, Inc.
	2,000	8.82%, 03/05/2014 (N)		1,994
		Lear Corp.
	3,589	3.98%, 04/25/2012 (N)		3,475
		Levi Strauss & Co.
	1,350	7.57%, 03/09/2014 (H)(N)		1,215
				28,713
		Finance — 0.5%
		Chrysler Financial Services NA
	2,264	9.00%, 08/03/2012 (N)		2,172
		United Rentals, Inc., Credit Linked Deposit
	385	6.70%, 02/14/2011 (AA)(Q)		374
		United Rentals, Inc., Initial Term Loan
	915	6.70%, 02/14/2011 (AA)(Q)		889
				3,435
		Health Care — 0.6%
		IASIS Healthcare Capital Corp.
	4,033	10.32%, 06/15/2014 (N)		3,761
		Inverness Medical Innovation, Inc.
	550	9.09%, 06/26/2015 (N)		533
				4,294
		Services — 2.5%
		Centaur LLC, Delayed Draw Term Loan
	367	8.07%, 10/30/2012 (AA)(Q)		352
		Centaur LLC, Term Loan B
	1,723	8.83%, 10/30/2012 (N)		1,655
		Centaur LLC, Second Lien Term Loan
	980	12.33%, 10/30/2013 (N)		921
		Harrah’s Entertainment, Inc.
	4,000	6.20%, 03/05/2008 (AA)(Q)		3,880
		Marquee Holdings, Inc.
	1,365	9.99%, 06/13/2012 (N)		1,292
		PITG Gaming Investor Holdings, LLC
	2,680	10.97%, 05/15/2008 (N)		2,573
		Tribune Co.
	3,124	9.20%, 05/23/2015 (AA)(Q)		2,624
		WideOpenWest Finance LLC
	4,000	11.09%, 07/01/2015 (N)		3,600
				16,897
		Technology — 2.1%
		Charter Communications Operating LLC
	3,000	6.99%, 04/28/2013 (N)		2,798
		Infor Lux Bond Co.
	1,468	12.83%, 07/28/2014 (H)(N)(Q)		1,380
		Integra Telecom Holdings, Inc.
	2,050	11.96%, 04/08/2014 (N)		2,070
		Kronos, Inc.
	3,375	10.58%, 06/12/2015 (N)		3,139
		Mediacom Broadband
	1,142	6.54%, 03/31/2010 (N)		1,066
		Wind Acquisitions Holdings Finance S.A.
	4,030	12.46%, 12/12/2011 (N)		4,020
				14,473
		Utilities — 1.0%
		Astoria Generating Co. Acquisitions LLC
	1,000	8.66%, 08/23/2013 (N)		970
		Texas Competitive Electric Co.
	3,000	8.40%, 10/31/2014 (N)		2,942

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

­ ­  109  ­ ­

Hartford High Yield HLS Fund

Schedule of Investments — (continued)

December 31, 2007

(000’s Omitted)

Principal					Market
Amount					Value (W)
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE (V) — (continued)
		Utilities — (continued)
		Texas Competitive Electric Holdings Co. LLC
$	3,000	8.40%, 10/24/2014 (N)			$	2,942
						6,854
		Total senior floating rate interests: non-investment grade (cost $82,360)			$	78,134
Shares
COMMON STOCK — 0.0%
		Consumer Cyclical — 0.0%
	—	Hosiery Corp. of America, Inc. Class A (A)(D)(H)			$	—
		Technology — 0.0%
	—	AboveNet, Inc. (D)(G)				36
	—	XO Holdings, Inc. (D)(G)(H)				—
						36
		Total common stock (cost $4)			$	36
WARRANTS — 0.0%
		Technology — 0.0%
	—	AboveNet, Inc. (D)(H)			$	22
	—	XO Holdings, Inc. (D)(H)				—
		Total warrants (cost $— )			$	22
PREFERRED STOCK — 0.3%
		Finance — 0.3%
	50	United Rentals Trust I (X)			$	2,091
		Total preferred stock (cost $2,446)			$	2,091
		Total long-term investments (cost $649,749)			$	622,265
Principal
Amount
SHORT-TERM INVESTMENTS — 22.5%
		Investment Pools and Funds — 0.0%
$	182	State Street Bank Money Market Fund			$	182
		Repurchase Agreements — 7.2%
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2008 in the amount of $24,824, collateralized by U.S. Treasury Note 3.63%, 2012, value of $25,421)
	24,823	1.30% dated 12/31/2007				24,823
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2008 in the amount of $24,209, collateralized by U.S. Treasury Note 3.38% — 12.50%, 2009 — 2014, value of $24,732)
	24,207	1.25% dated 12/31/2007				24,207
						49,030
					Market
Shares					Value (W)
		Securities Purchased with Proceeds from Security Lending — 15.2%
		Cash Collateral Reinvestment Fund:
	103,793	Navigator Prime Portfolio			$	103,793
Principal
Amount
		U.S. Treasury Bills — 0.1%
$	400	2.85%, 03/13/2008 (M)(S)				398
		Total short-term investments (cost $153,403)			$	153,403
		Total investments (cost $803,152) (C)	113.6	%	$	775,668
		Other assets and liabilities	(13.6	)%		(92,713	)
		Total net assets	100.0	%	$	682,955

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 5.74% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $804,593 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	1,418
Unrealized Depreciation		(30,343	)
Net Unrealized Depreciation	$	(28,925	)

#	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007 rounds to zero.
(AA)	The interest rate disclosed for these securities represents an estimated average coupon as of December 31, 2007.
(D)	Currently non-income producing. For long-term debt securities, items identified are in default as to payment of interest and/or principal.
(G)	Security is partially on loan at December 31, 2007.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $129,296, which represents 18.93% of total net assets.
(L)	Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2007.
(M)	The interest rate disclosed for these securities represents the effective yield on the date of acquisition.
(N)	The interest rate disclosed for these securities represents the average coupon as of December 31, 2007.

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

­ ­  110  ­ ­

(P)	The interest rates disclosed for interest only strips represent effective yields based upon estimated future cash flows at December 31, 2007.
(Q)	The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2007 was $8,809.
(V)	Senior loans in which the Fund invests generally pay interest rates which are periodically adjusted by reference to a base short-term, floating lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the London Inter-Bank Offered Rate (LIBOR), (ii) the prime rate offered by one or more major United States Banks, or (iii) the bank’s certificate of deposit rate. Senior floating rate interests often require prepayments from excess cash flows or permit the borrower to repay at its election. The rate at which the borrower repays cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. The interest rate indicated is the rate in effect at December 31, 2007.
(X)	Convertible security.
(B)	All principal amounts are in U.S. dollars unless otherwise indicated.

EUR — Euro

(H) The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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
09/2007		—	AboveNet, Inc. Warrants	$	—
07/2007		3,383	Appleseed’s Brands, 8.52%, 06/25/2013		3,358
11/2006		22,563	CBA Commercial Small Balance Commercial Mortgage, 9.75%, 01/25/2039 - 144A		2,157
10/1994		—	Hosiery Corp. of America, Inc. Class A - 144A		4
03/2007		1,468	Infor Lux Bond Co., 12.83%, 07/28/2014		1,468
09/2007		1,350	Levi Strauss & Co.		1,262
08/2006		5,320	LPL Holdings, Inc., 10.75%, 12/15/2015 - 144A		5,565
05/2001		1,350	Potlatch Corp., 13.00%, 12/01/2009		1,346
02/2007		2,490	Soundview NIM Trust, 8.25%, 12/25/2036 - 144A		2,297
05/2006		—	XO Holdings, Inc.		—
05/2006		—	XO Holdings, Inc. Warrants		—

	The aggregate value of these securities at December 31, 2007 was $15,208 which represents 2.23% of total net assets.
(S)	Security pledged as initial margin deposit for open futures contracts at December 31, 2007.
	Futures Contracts Outstanding at December 31, 2007

							Unrealized
	Number of				Expiration		Appreciation/
Description	Contracts*		Position		Month		(Depreciation)
5 Year U.S. Treasury Note		489		Long		Apr 2008	$	52

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

Forward Foreign Currency Contracts Outstanding at December 31, 2007

	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Euro (Sell)	$	4,947	$	4,872		01/30/08	$	(75	)

Credit Default Swap Agreements Outstanding at December 31, 2007

Unrealized

Reference

Buy/Sell

Pay/Receive

Expiration

Notional

Appreciation/

CounterParty

Entity

Protection

Fixed Rate

Date

Amount

(Depreciation)

Lehman Brothers Special Financing, Inc.

General Motors Corp.

Sell

0.06

%

09/20/08

$

1,875

$

30

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  111  ­ ­

Hartford Index HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 99.1%
		Basic Materials — 3.4%
	28	Air Products and Chemicals, Inc. (G)	$	2,720
	109	Alcoa, Inc.		3,970
	13	Allegheny Technologies, Inc. (G)		1,128
	7	Ashland, Inc.		341
	13	Ball Corp.		578
	13	Bemis Co., Inc.		351
	23	Consol Energy, Inc.		1,662
	121	Dow Chemical Co.		4,765
	115	E.I. DuPont de Nemours & Co.		5,074
	10	Eastman Chemical Co.		635
	37	Eastman Kodak Co. (G)		806
	20	Fortune Brands, Inc.		1,419
	49	Freeport McMoRan Copper & Gold, Inc.		5,007
	31	Goodyear Tire & Rubber Co. (D)		867
	15	Hercules, Inc.		290
	10	International Flavors & Fragrances, Inc. (G)		501
	55	International Paper Co. (G)		1,777
	54	Kimberly-Clark Corp. (G)		3,755
	24	MeadWestvaco Corp.		740
	58	Newmont Mining Corp.		2,823
	37	Nucor Corp.		2,183
	10	OfficeMax, Inc. (G)		200
	17	Pactiv Corp. (D)		445
	34	Peabody Energy Corp. (G)		2,092
	21	PPG Industries, Inc. (G)		1,474
	40	Praxair, Inc.		3,583
	18	Precision Castparts Corp.		2,455
	16	Rohm & Haas Co. (G)		852
	21	Sealed Air Corp.		479
	7	Snap-On, Inc.		357
	11	Stanley Works		510
	11	Titanium Metals Corp. (G)		299
	15	United States Steel Corp.		1,834
	14	Vulcan Materials Co. (G)		1,095
				57,067
		Capital Goods — 4.9%
	91	3M Co.		7,699
	41	Baker Hughes, Inc. (G)		3,300
	8	Black & Decker Corp. (G)		561
	99	Boeing Co.		8,677
	81	Caterpillar, Inc. (G)		5,911
	13	Cummins, Inc.		1,669
	57	Deere & Co.		5,292
	19	Eaton Corp.		1,820
	16	Goodrich Corp.		1,127
	19	Hasbro, Inc. (G)		483
	96	Honeywell International, Inc.		5,884
	53	Illinois Tool Works, Inc.		2,836
	35	Ingersoll-Rand Co. Class A		1,621
	40	International Game Technology		1,772
	23	ITT Corp.		1,535
	17	Manitowoc Co., Inc.		811
	46	National Oilwell Varco, Inc. (D)(G)		3,355
	43	Northrop Grumman Corp.		3,404
	15	Novellus Systems, Inc. (D)		409
	16	Pall Corp.		632
	22	Parker-Hannifin Corp.		1,622
	28	Pitney Bowes, Inc.		1,058
	19	Rockwell Automation, Inc.		1,316
	26	Smith International, Inc. (G)		1,892
	22	Teradyne, Inc. (D)		232
	13	Terex Corp. (D)		864
	32	Textron, Inc.		2,274
	22	Trane, Inc.		1,025
	127	United Technologies Corp.		9,686
	118	Xerox Corp.		1,915
				80,682
		Consumer Cyclical — 8.0%
	11	Abercrombie & Fitch Co. Class A		880
	270	Altria Group, Inc.		20,378
	39	Amazon.com, Inc. (D)		3,643
	18	AutoNation, Inc. (D)		278
	6	AutoZone, Inc. (D)		679
	14	Avery Dennison Corp. (G)		725
	34	Bed Bath & Beyond, Inc. (D)(G)		996
	45	Best Buy Co., Inc. (G)		2,364
	12	Big Lots, Inc. (D)(G)		185
	11	Brown-Forman Corp.		823
	11	Brunswick Corp.		194
	16	Centex Corp.		394
	22	Circuit City Stores, Inc. (G)		92
	47	Coach, Inc. (D)		1,441
	56	Costco Wholesale Corp.		3,875
	35	D.R. Horton, Inc.		467
	18	Darden Restaurants, Inc.		506
	7	Dillard’s, Inc. (G)		138
	146	eBay, Inc. (D)		4,831
	18	Family Dollar Stores, Inc. (G)		345
	270	Ford Motor Co. (D)(G)		1,818
	20	GameStop Corp. Class A (D)		1,267
	60	Gap, Inc.		1,270
	72	General Motors Corp. (G)		1,803
	22	Genuine Parts Co.		996
	216	Home Depot, Inc.		5,820
	28	J. C. Penney Co., Inc.		1,247
	76	Johnson Controls, Inc.		2,741
	11	Jones Apparel Group, Inc. (G)		176
	10	KB Home (G)		215
	40	Kohl’s Corp. (D)		1,840
	87	Kroger Co.		2,330
	22	Leggett & Platt, Inc. (G)		379
	18	Lennar Corp. (G)		322
	40	Limited Brands, Inc. (G)		753
	13	Liz Claiborne, Inc. (G)		258
	58	Loews Corp.		2,941
	187	Lowe’s Cos., Inc. (G)		4,235
	55	Macy’s, Inc.		1,434
	47	Masco Corp. (G)		1,020
	47	Mattel, Inc.		895
	151	McDonald’s Corp.		8,921
	36	Newell Rubbermaid, Inc.		925
	49	NIKE, Inc. Class B		3,161
	24	Nordstrom, Inc. (G)		884

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

­ ­  112  ­ ­

				Market
Shares				Value (W)
COMMON STOCK — (continued)
		Consumer Cyclical — (continued)
	35	Office Depot, Inc. (D)		$	485
	47	PACCAR, Inc.			2,569
	18	Patterson Cos., Inc. (D)			612
	8	Polo Ralph Lauren Corp.			463
	27	Pulte Homes, Inc. (G)			289
	17	RadioShack Corp. (G)			284
	57	Safeway, Inc.			1,938
	9	Sears Holdings Corp. (D)(G)			951
	13	Sherwin-Williams Co. (G)			774
	90	Staples, Inc.			2,087
	94	Starbucks Corp. (D)			1,914
	27	Supervalu, Inc.			1,014
	78	Sysco Corp.			2,434
	106	Target Corp.			5,318
	18	Tiffany & Co.			806
	56	TJX Cos., Inc.			1,606
	11	V.F. Corp.			771
	9	W.W. Grainger, Inc.			752
	303	Wal-Mart Stores, Inc. (G)			14,379
	11	Wendy’s International, Inc.			292
	18	Whole Foods Market, Inc. (G)			726
	65	Yum! Brands, Inc.			2,493
			��		133,842
		Consumer Staples — 6.4%
	94	Anheuser-Busch Cos., Inc.			4,915
	82	Archer Daniels Midland Co.			3,822
	55	Avon Products, Inc.			2,171
	29	Campbell Soup Co. (G)			1,019
	18	Clorox Co.			1,158
	254	Coca-Cola Co.			15,618
	37	Coca-Cola Enterprises, Inc.			953
	65	Colgate-Palmolive Co.			5,090
	63	ConAgra Foods, Inc.			1,489
	25	Constellation Brands, Inc. Class A (D)			587
	17	Dean Foods Co.			434
	15	Estee Lauder Cos., Inc.			641
	43	General Mills, Inc.			2,465
	41	H.J. Heinz Co.			1,892
	22	Hershey Co. (G)			852
	34	Kellogg Co. (G)			1,773
	198	Kraft Foods, Inc. (G)			6,464
	16	McCormick & Co., Inc. (G)			621
	18	Molson Coors Brewing Co. (G)			904
	18	Pepsi Bottling Group, Inc.			705
	206	PepsiCo, Inc.			15,643
	398	Procter & Gamble Co.			29,189
	22	Reynolds American, Inc. (G)			1,442
	93	Sara Lee Corp.			1,489
	35	Tyson Foods, Inc. Class A			542
	20	UST, Inc. (G)			1,100
	27	Weyerhaeuser Co.			1,978
	28	William Wrigley, Jr. Co.			1,632
					106,588
		Energy — 12.1%
	60	Anadarko Petroleum Corp. (G)			3,920
	42	Apache Corp.			4,562
	37	BJ Services Co.			909
	58	Chesapeake Energy Corp. (G)			2,280
	270	Chevron Corp.			25,229
	205	ConocoPhillips Holding Co.			18,086
	23	Constellation Energy Group, Inc.			2,376
	57	Devon Energy Corp.			5,063
	19	ENSCO International, Inc. (G)			1,107
	31	EOG Resources, Inc.			2,808
	699	Exxon Mobil Corp.			65,532
	113	Halliburton Co.			4,277
	36	Hess Corp. (G)			3,592
	91	Marathon Oil Corp.			5,532
	24	Murphy Oil Corp. (G)			2,043
	36	Nabors Industries Ltd. (D)(G)			993
	6	Nicor, Inc. (G)			246
	34	Noble Corp.			1,937
	22	Noble Energy, Inc.			1,749
	106	Occidental Petroleum Corp.			8,171
	19	Range Resources Corp. (G)			986
	14	Rowan Companies, Inc. (G)			562
	153	Schlumberger Ltd.			15,056
	34	Sempra Energy			2,073
	15	Sunoco, Inc.			1,088
	18	Tesoro Corp. (G)			835
	41	Transocean, Inc. (G)			5,823
	70	Valero Energy Corp. (G)			4,935
	43	Weatherford International Ltd. (D)			2,962
	76	Williams Cos., Inc.			2,719
	62	XTO Energy, Inc. (G)			3,178
					200,629
		Finance — 18.8%
	44	ACE Ltd.			2,709
	64	Aetna, Inc.			3,699
	68	Aflac, Inc.			4,268
	76	Allstate Corp.			3,968
	13	AMBAC Financial Group, Inc. (G)			348
	25	American Capital Strategies Ltd. (G)			808
	150	American Express Co.			7,788
	337	American International Group, Inc.			19,669
	30	Ameriprise Financial, Inc.			1,633
	38	AON Corp.			1,794
	12	Apartment Investment & Management Co. (G)			425
	13	Assurant, Inc. (G)			850
	10	Avalonbay Communities, Inc.			949
	568	Bank of America Corp.			23,446
	146	Bank of New York Mellon Corp.			7,108
	70	BB&T Corp. (G)			2,158
	15	Bear Stearns & Co., Inc. (G)			1,306
	15	Boston Properties, Inc.			1,399
	50	Capital One Financial Corp.			2,365
	25	CB Richard Ellis Group, Inc. Class A (D)(G)			546
	120	Charles Schwab Corp.			3,065
	51	Chubb Corp.			2,784
	36	CIGNA Corp.			1,920
	22	Cincinnati Financial Corp. (G)			874

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

­ ­  113  ­ ­

Hartford Index HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Finance — (continued)
	24	CIT Group, Inc.	$	585
	639	Citigroup, Inc.		18,815
	7	CME Group, Inc.		4,802
	19	Comerica, Inc.		844
	25	Commerce Bancorp, Inc. (G)		951
	74	Countrywide Financial Corp. (G)		662
	16	Developers Diversified Realty Corp.		601
	61	Discover Financial Services		922
	55	E*Trade Financial Corp. (D)(G)		195
	35	Equity Residential Properties Trust		1,267
	85	Federal Home Loan Mortgage Corp.		2,885
	125	Federal National Mortgage Association		5,005
	11	Federated Investors, Inc.		459
	68	Fifth Third Bankcorp (G)		1,713
	16	First Horizon National Corp. (G)		295
	21	Franklin Resources, Inc. (G)		2,368
	31	General Growth Properties, Inc.		1,285
	58	Genworth Financial, Inc. (G)		1,485
	51	Goldman Sachs Group, Inc. (G)		10,938
	67	Host Hotels & Resorts, Inc.		1,140
	67	Hudson City Bancorp, Inc.		1,001
	22	Humana, Inc. (D)		1,636
	47	Huntington Bancshares, Inc.		694
	9	IntercontinentalExchange, Inc. (D)		1,713
	20	Janus Capital Group, Inc. (G)		645
	430	JP Morgan Chase & Co.		18,772
	50	Keycorp		1,169
	32	Kimco Realty Corp. (G)		1,179
	17	Legg Mason, Inc. (G)		1,254
	68	Lehman Brothers Holdings, Inc.		4,438
	22	Leucadia National Corp.		1,017
	38	Lincoln National Corp.		2,189
	10	M&T Bank Corp. (G)		780
	67	Marsh & McLennan Cos., Inc.		1,763
	33	Marshall & Ilsley Corp.		871
	17	MBIA, Inc. (G)		316
	110	Merrill Lynch & Co., Inc.		5,884
	103	Metlife, Inc.		6,372
	11	MGIC Investment Corp. (G)		238
	136	Morgan Stanley (G)		7,218
	81	National City Corp.		1,335
	25	Northern Trust Corp. (G)		1,879
	34	NYSE Euronext (G)		2,975
	22	Plum Creek Timber Co., Inc. (G)		1,016
	45	PNC Financial Services Group, Inc.		2,935
	36	Principal Financial Group, Inc.		2,512
	93	Progressive Corp. (G)		1,779
	33	ProLogis (G)		2,093
	63	Prudential Financial, Inc.		5,900
	16	Public Storage, Inc.		1,170
	89	Regions Financial Corp.		2,104
	7	Ryder System, Inc.		348
	13	SAFECO Corp. (G)		700
	29	Simon Property Group, Inc.		2,477
	66	SLM Corp.		1,328
	46	Sovereign Bancorp, Inc. (G)		526
	49	State Street Corp.		4,011
	45	SunTrust Banks, Inc.		2,795
	42	Synovus Financial Corp. (G)		1,014
	34	T. Rowe Price Group, Inc.		2,058
	13	Torchmark Corp.		779
	86	Travelers Cos., Inc.		4,615
	165	UnitedHealth Group, Inc.		9,628
	50	Unum Group (G)		1,198
	221	US Bancorp (G)		7,017
	17	Vornado Realty Trust		1,510
	253	Wachovia Corp.		9,616
	111	Washington Mutual, Inc. (G)		1,513
	73	Wellpoint, Inc. (D)		6,417
	432	Wells Fargo & Co.		13,042
	96	Western Union Co.		2,335
	24	XL Capital Ltd. Class A		1,191
	14	Zions Bancorporation (G)		646
				312,707
		Health Care — 11.2%
	198	Abbott Laboratories		11,108
	39	Allergan, Inc.		2,525
	21	Amerisource Bergen Corp.		964
	139	Amgen, Inc. (D)		6,469
	13	Bard (C.R.), Inc.		1,239
	14	Barr Pharmaceuticals, Inc. (D)		730
	81	Baxter International, Inc.		4,709
	31	Becton, Dickinson & Co.		2,608
	38	Biogen Idec, Inc. (D)		2,135
	172	Boston Scientific Corp. (D)		1,998
	253	Bristol-Myers Squibb Co.		6,719
	46	Cardinal Health, Inc.		2,675
	49	Celgene Corp. (D)		2,283
	20	Coventry Health Care, Inc. (D)		1,176
	64	Covidien Ltd.		2,822
	189	CVS/Caremark Corp. (G)		7,515
	126	Eli Lilly & Co.		6,745
	40	Forest Laboratories, Inc. (D)		1,455
	34	Genzyme Corp. (D)		2,531
	119	Gilead Sciences, Inc. (D)		5,483
	20	Hospira, Inc. (D)		859
	366	Johnson & Johnson		24,435
	32	King Pharmaceuticals, Inc. (D)		323
	15	Laboratory Corp. of America Holdings (D)		1,110
	37	McKesson Corp.		2,429
	34	Medco Health Solutions, Inc. (D)		3,470
	145	Medtronic, Inc.		7,275
	279	Merck & Co., Inc.		16,192
	70	Monsanto Co.		7,818
	39	Mylan, Inc. (G)		544
	874	Pfizer, Inc.		19,874
	20	Quest Diagnostics, Inc. (G)		1,060
	207	Schering-Plough Corp.		5,523
	17	Sigma-Aldrich Corp.		907
	44	St. Jude Medical, Inc. (D)		1,781
	30	Stryker Corp.		2,276
	61	Tenet Healthcare Corp. (D)(G)		311
	16	Varian Medical Systems, Inc. (D)		833
	127	Walgreen Co.		4,837

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

­ ­  114  ­ ­

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Health Care — (continued)
	13	Watson Pharmaceuticals, Inc. (D)	$	361
	171	Wyeth		7,574
	30	Zimmer Holdings, Inc. (D)		1,990
				185,671
		Services — 5.7%
	37	Allied Waste Industries, Inc. (D)		408
	17	Apollo Group, Inc. Class A (D)(G)		1,225
	30	Autodesk, Inc. (D)		1,472
	67	Automatic Data Processing, Inc.		2,998
	22	C.H. Robinson Worldwide, Inc.		1,177
	88	CBS Corp. Class B		2,390
	17	Cintas Corp.		582
	64	Clear Channel Communications, Inc.		2,202
	37	Cognizant Technology Solutions Corp. (D)(G)		1,261
	393	Comcast Corp. Class A (D)(G)		7,184
	22	Computer Sciences Corp. (D)		1,103
	17	Convergys Corp. (D)		275
	92	DirecTV Group, Inc. (D)		2,125
	11	E.W. Scripps Co. (G)		515
	22	Ecolab, Inc.		1,144
	66	Electronic Data Systems Corp.		1,360
	17	Equifax, Inc. (D)		613
	27	Expedia, Inc. (D)(G)		841
	32	Express Scripts, Inc. (D)		2,353
	40	FedEx Corp. (G)		3,530
	11	Fluor Corp.		1,650
	30	Gannett Co., Inc. (G)		1,161
	42	H & R Block, Inc.		773
	24	Harrah’s Entertainment, Inc. (G)		2,132
	60	Interpublic Group of Cos., Inc. (D)(G)		489
	16	Jacobs Engineering Group, Inc. (D)		1,482
	40	Marriott International, Inc. Class A (G)		1,370
	42	McGraw-Hill Cos., Inc. (G)		1,846
	5	Meredith Corp.		267
	16	Monster Worldwide, Inc. (D)		530
	27	Moody’s Corp.		980
	19	New York Times Co. Class A		325
	296	News Corp. Class A		6,069
	45	Novell, Inc. (D)		310
	42	Omnicom Group, Inc. (G)		1,995
	43	Paychex, Inc.		1,547
	27	R.R. Donnelley & Sons Co.		1,037
	21	Robert Half International, Inc. (G)		558
	25	Starwood Hotels & Resorts		1,123
	106	Sun Microsystems, Inc. (D)		1,923
	463	Time Warner, Inc.		7,640
	45	Unisys Corp. (D)(G)		214
	135	United Parcel Service, Inc. Class B		9,515
	84	Viacom, Inc. Class B (D)		3,692
	244	Walt Disney Co.		7,868
	1	Washington Post Co. Class B		554
	65	Waste Management, Inc.		2,127
	23	Wyndham Worldwide Corp. (G)		538
				94,473
		Technology — 23.7%
	73	Adobe Systems, Inc. (D)		3,139
	77	Advanced Micro Devices, Inc. (D)(G)		579
	13	Affiliated Computer Services, Inc. Class A (D)		582
	49	Agilent Technologies, Inc. (D)		1,817
	21	Akamai Technologies, Inc. (D)(G)		737
	43	Altera Corp. (G)		831
	52	American Tower Corp. Class A (D)(G)		2,207
	39	Analog Devices, Inc.		1,230
	112	Apple, Inc. (D)		22,198
	22	Applera Corp. — Applied Biosystems Group		730
	176	Applied Materials, Inc.		3,134
	776	AT&T, Inc.		32,268
	25	BMC Software, Inc. (D)		892
	60	Broadcom Corp. Class A (D)		1,575
	50	CA, Inc. (G)		1,251
	14	CenturyTel, Inc.		586
	11	Ciena Corp. (D)(G)		376
	777	Cisco Systems, Inc. (D)		21,027
	42	Citizens Communications Co.		534
	24	Citrix Systems, Inc. (D)(G)		922
	37	Compuware Corp. (D)		328
	23	Cooper Industries Ltd.		1,221
	202	Corning, Inc.		4,841
	32	Danaher Corp. (G)		2,846
	287	Dell, Inc. (D)		7,032
	25	Dover Corp.		1,170
	40	Electronic Arts, Inc. (D)		2,358
	20	Embarq Corp.		968
	269	EMC Corp. (D)(G)		4,977
	101	Emerson Electric Co.		5,709
	22	Fidelity National Information Services, Inc.		907
	21	Fiserv, Inc. (D)(G)		1,171
	1,294	General Electric Co.		47,964
	30	Google, Inc. (D)		20,491
	8	Harman International Industries, Inc. (G)		572
	330	Hewlett-Packard Co.		16,660
	24	IAC/Interactive Corp. (D)		635
	25	IMS Health, Inc.		573
	749	Intel Corp.		19,956
	176	International Business Machines Corp. (G)		19,067
	43	Intuit, Inc. (D)		1,348
	27	Jabil Circuit, Inc. (G)		407
	28	JDS Uniphase Corp. (D)(G)		373
	67	Juniper Networks, Inc. (D)		2,217
	23	KLA-Tencor Corp. (G)		1,121
	16	L-3 Communications Holdings, Inc.		1,704
	12	Lexmark International, Inc. ADR (D)		423
	29	Linear Technology Corp. (G)		911
	44	Lockheed Martin Corp.		4,673
	90	LSI Corp. (D)		480
	29	MEMC Electronic Materials, Inc. (D)		2,593
	27	Microchip Technology, Inc.		861
	97	Micron Technology, Inc. (D)(G)		706
	1,030	Microsoft Corp.		36,669
	7	Millipore Corp. (D)		509
	18	Molex, Inc.		495
	292	Motorola, Inc.		4,691
	30	National Semiconductor Corp. (G)		680

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

­ ­  115  ­ ­

Hartford Index HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

					Market
Shares					Value (W)
COMMON STOCK — (continued)
		Technology — (continued)
	44	Network Appliance, Inc. (D)(G)			$	1,101
	71	NVIDIA Corp. (D)(G)				2,421
	505	Oracle Corp. (D)				11,400
	15	PerkinElmer, Inc.				394
	18	QLogic Corp. (D)				251
	209	Qualcomm, Inc.				8,243
	201	Qwest Communications International, Inc. (D)(G)				1,409
	55	Raytheon Co.				3,334
	21	Rockwell Collins, Inc.				1,502
	29	SanDisk Corp. (D)(G)				970
	364	Sprint Nextel Corp.				4,781
	111	Symantec Corp. (D)				1,792
	56	Tellabs, Inc. (D)(G)				366
	23	Teradata Corp. (D)				636
	179	Texas Instruments, Inc. (G)				5,979
	54	Thermo Fisher Scientific, Inc. (D)(G)				3,118
	5	Total System Services, Inc.				141
	64	Tyco Electronics Ltd.				2,362
	63	Tyco International Ltd.				2,511
	28	VeriSign, Inc. (D)(G)				1,068
	370	Verizon Communications, Inc.				16,165
	13	Waters Corp. (D)				1,016
	10	Whirlpool Corp. (G)				812
	61	Windstream Corp.				795
	38	Xilinx, Inc. (G)				828
	171	Yahoo!, Inc. (D)(G)				3,979
						394,296
		Transportation — 1.4%
	38	Burlington Northern Santa Fe Corp.				3,174
	56	Carnival Corp.				2,486
	54	CSX Corp.				2,366
	27	Expeditors International of Washington, Inc.				1,220
	51	General Dynamics Corp.				4,580
	31	Harley-Davidson, Inc. (G)				1,442
	50	Norfolk Southern Corp.				2,500
	94	Southwest Airlines Co. (G)				1,146
	34	Union Pacific Corp.				4,230
						23,144
		Utilities — 3.5%
	86	AES Corp. (D)				1,833
	21	Allegheny Energy, Inc.				1,354
	27	Ameren Corp. (G)				1,442
	51	American Electric Power Co., Inc.				2,383
	41	CenterPoint Energy, Inc. (G)				705
	29	CMS Energy Corp. (G)				500
	35	Consolidated Edison, Inc. (G)				1,697
	75	Dominion Resources, Inc.				3,555
	21	DTE Energy Co. (G)				923
	161	Duke Energy Corp.				3,256
	63	Dynegy Holdings, Inc. (D)				452
	42	Edison International				2,226
	90	El Paso Corp. (G)				1,545
	25	Entergy Corp.				2,973
	84	Exelon Corp.				6,895
	39	FirstEnergy Corp.				2,820
	52	FPL Group, Inc.				3,532
	10	Integrys Energy Group, Inc. (G)				507
	35	NiSource, Inc.				664
	26	Pepco Holdings, Inc.				751
	45	PG&E Corp.				1,955
	13	Pinnacle West Capital Corp. (G)				544
	48	PPL Corp.				2,480
	33	Progress Energy, Inc. (G)				1,607
	33	Public Service Enterprise Group, Inc.				3,202
	22	Questar Corp.				1,197
	97	Southern Co.				3,767
	81	Spectra Energy Corp.				2,090
	27	TECO Energy, Inc. (G)				466
	54	Xcel Energy, Inc. (G)				1,214
						58,535
		Total common stock (cost $1,311,361)			$	1,647,634
Principal
Amount
SHORT-TERM INVESTMENTS — 12.9%
		Repurchase Agreements — 0.9%
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2008 in the amount of $7,543, collateralized by U.S. Treasury Note 3.63%, 2012, value of $7,724)
$	7,542	1.30% dated 12/31/2007			$	7,542
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2008 in the amount of $7,356, collateralized by U.S. Treasury Note 3.38% — 12.50%, 2009 — 2014, value of $7,515)
	7,356	1.25% dated 12/31/2007				7,356
						14,898
Shares
		Securities Purchased with Proceeds from Security Lending — 11.9%
		Cash Collateral Reinvestment Fund:
	198,890	Mellon GSL DBT II Collateral Fund (H)				198,890
Principal
Amount
		U.S. Treasury Bills — 0.1%
$	1,200	2.97%, 03/13/2008 (M)(S)				1,192
		Total short-term investments (cost $214,981)			$	214,980
		Total investments (cost $1,526,342) (C)	112.0	%	$	1,862,614
		Other assets and liabilities	(12.0	)%		(199,820	)
		Total net assets	100.0	%	$	1,662,794

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

­ ­  116  ­ ­

Note:  Percentage of investments as shown is the ratio of the total market value to total net assets.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $1,547,579 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	468,059
Unrealized Depreciation		(153,024	)
Net Unrealized Appreciation	$	315,035

(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(M)	The interest rate disclosed for these securities represents the effective yield on the date of acquisition.
(H)	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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
12/2006 – 12/2007		198,890	Mellon GSL DBT II Collateral Fund	$	198,890

	The aggregate value of these securities at December 31, 2007 was $198,890 which represents 11.96% of total net assets.
(S)	Security pledged as initial margin deposit for open futures contracts at December 31, 2007.
	Futures Contracts Outstanding at December 31, 2007

							Unrealized
	Number of				Expiration		Appreciation/
Description	Contracts*		Position		Month		(Depreciation)
S&P 500 Index		48		Long		Mar 2008	$	26

	* The number of contracts does not omit 000’s.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  117  ­ ­

Hartford International Growth HLS Fund (formerly Hartford International Capital Appreciation HLS Fund)

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 96.0%
		Australia — 1.6%
	283	CSL Ltd. (A)	$	8,971
	164	Leighton Holdings Ltd. (A)		8,656
				17,627
		Belgium — 0.5%
	1,056	Hansen Transmissions (D)		6,052
		Bermuda — 0.7%
	321	Seadrill Ltd. (A)(D)(G)		7,742
		Brazil — 2.2%
	662	Bolsa De Mercadorias e Futuros (D)		9,295
	180	Companhia Vale do Rio Doce ADR #		5,876
	81	Petroleo Brasileiro S.A. ADR		9,277
				24,448
		Canada — 3.3%
	160	Potash Corp. of Saskatchewan		22,991
	70	Research In Motion Ltd. (D)		7,881
	60	Suncor Energy, Inc.		6,604
				37,476
		China — 2.6%
	1,280	China Communications Construction Co., Ltd. (A)		3,309
	27	Focus Media Holding Ltd. ADR (D)(G)		1,539
	302	Suntech Power Holdings Co., Ltd. ADR (D)		24,861
				29,709
		Denmark — 3.3%
	343	Vestas Wind Systems A/S (A)(D)		37,021
		Egypt — 1.7%
	234	Orascom Telecom Holding SAE GDR		19,405
		Finland — 4.1%
	1,204	Nokia Oyj (A)(G)		46,246
		France — 10.2%
	138	Alstom RGPT (A)		29,640
	10	Compagnie Generale de Geophysique-Veritas (A)(D)		2,862
	493	France Telecom S.A. (A)		17,691
	132	Publicis Groupe (A)		5,154
	163	Sanofi-Aventis S.A. (A)		14,948
	6	Vallourec (A)		1,700
	475	Veolia Environment S.A. (A)		43,271
				115,266
		Germany — 8.6%
	1,216	Arcandor AG (A)(D)(G)		29,069
	344	Daimler AG (A)(G)		33,329
	101	Deutsche Boerse AG (A)		19,960
	35	Salzgitter AG (A)(G)		5,180
	59	Siemens AG (A)		9,372
				96,910
		Greece — 0.8%
	126	National Bank of Greece (A)		8,630
		Hong Kong — 1.7%
	2,221	Alibaba.com Ltd. (D)		7,877
	866	China Resources Enterprise (A)		3,678
	378	Sun Hung Kai Properties Ltd. (A)		7,939
				19,494
		Ireland — 2.3%
	786	Elan Corp. plc ADR (D)		17,270
	231	Ryanair Holdings plc ADR (D)(G)		9,110
				26,380
		Japan — 4.8%
	3	Japan Tobacco, Inc. (A)		15,143
	27	Nintendo Co., Ltd. (A)		16,029
	309	Sony Corp. (A)		16,813
	52	Yamada Denki Co., Ltd. (A)		5,811
				53,796
		Luxembourg — 2.9%
	244	Millicom International Cellular S.A. (D)(G)		28,789
	160	SES Global S.A. (A)		4,216
				33,005
		Netherlands — 6.1%
	830	ASML Holding N.V. (A)		26,192
	247	Koninklijke Philips Electronics N.V. (A)		10,571
	882	Unilever N.V. CVA (A)		32,403
				69,166
		Russia — 1.9%
	371	OAO Gazprom ADR		21,039
		South Korea — 1.1%
	114	LG Electronics, Inc. (A)(D)		12,077
		Spain — 4.6%
	255	Gamesa Corporacion Tecnologica S.A. (A)		11,785
	2,187	Iberdrola Renovables (D)		18,062
	681	Telefonica S.A. (A)		22,060
				51,907
		Switzerland — 9.2%
	239	Julius Baer Holding Ltd. (A)		19,646
	877	Logitech International S.A. (A)(D)(Q)		32,041
	48	Nestle S.A. (A)		22,191
	265	Sonova Holding AG (A)		29,747
				103,625
		Turkey — 0.9%
	365	Turkcell Iletisim Hizmetleri ADR		10,060
		United Kingdom — 18.2%
	4,383	Arm Holdings plc (A)		10,810
	1,444	Burberry Group plc (A)		16,326
	3,861	Carphone Warehouse Group plc (A)(G)		26,272
	878	easyJet plc (A)(D)		10,666
	2,742	Man Group plc (A)		31,125
	427	Reckitt Benckiser Group plc (A)		24,785
	692	Schroders plc (A)		17,757
	5,234	Tesco plc (A)		49,791
	259	Xstrata plc (A)		18,151
				205,683

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

­ ­  118  ­ ­

					Market
Shares					Value (W)
COMMON STOCK — (continued)
		United States — 2.7%
	985	Invesco Ltd.			$	30,899
		Total common stock (cost $933,655)			$	1,083,663
Principal
Amount
SHORT-TERM INVESTMENTS — 10.6%
		Repurchase Agreements — 3.0%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $8,109, collateralized by FNMA 5.00%, 2035, value of $8,269)
$	8,107	4.50% dated 12/31/2007			$	8,107
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $73, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $75)
	73	1.35% dated 12/31/2007				73
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $22,567, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $23,012)
	22,561	4.75% dated 12/31/2007				22,561
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $3,183, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $3,246)
	3,182	4.60% dated 12/31/2007				3,182
						33,923
Shares
		Securities Purchased with Proceeds from Security Lending — 7.6%
		Cash Collateral Reinvestment Fund:
	85,478	Goldman Sachs FS Prime Obligation/Institutional Fund				85,478
		Total short-term investments (cost $119,401)			$	119,401
		Total investments (cost $1,053,056) (C)	106.6	%	$	1,203,064
		Other assets and liabilities	(6.6	)%		(74,560	)
		Total net assets	100.0	%	$	1,128,504

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 93.29% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $1,055,527 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	165,915
Unrealized Depreciation		(18,378	)
Net Unrealized Appreciation	$	147,537

#	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $826,776, which represents 73.26% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(Q)	The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2007 was $224.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
British Pound (Buy)	$	530	$	531		01/02/08	$	(1	)
British Pound (Buy)		742		742		01/03/08		—
British Pound (Buy)		147		148		01/04/08		(1	)
Euro (Sell)		1,456		1,457		01/02/08		1
Euro (Sell)		1,395		1,403		01/03/08		8
South African Rand (Sell)		1,349		1,309		01/02/08		(40	)
Swiss Franc (Buy)		98		98		01/03/08		—
Swiss Franc (Buy)		223		224		01/07/08		(1	)
							$	(34	)

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		4.8	%
Capital Goods		7.5
Consumer Cyclical		17.8
Consumer Staples		8.7
Energy		4.2
Finance		13.6
Health Care		6.3
Services		0.6
Technology		23.2
Transportation		1.7
Utilities		7.6
Short-Term Investments		10.6
Other Assets and Liabilities		(6.6	)
Total		100.0	%

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

­ ­  119  ­ ­

Hartford International Opportunities HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 99.1%
		Australia — 0.1%
	585	Paladin Resources Ltd. (A)(D)(G)	$	3,420
		Austria — 1.2%
	363	OMV AG (A) #		29,341
		Belgium — 0.3%
	170	UCB S.A. (A)(G)		7,739
		Brazil — 5.4%
	2,251	All America Latina Logistica S.A.		29,131
	392	Banco Bradesco S.A.		12,554
	1,414	Bolsa De Mercadorias e Futuros (D)		19,864
	69	MMX Mineracao E Metalicos S.A. (D)		36,649
	297	Petroleo Brasileiro S.A. ADR		34,192
				132,390
		Canada — 3.8%
	569	Canadian Natural Resources Ltd.		41,837
	332	EnCana Corp.		22,686
	112	Research In Motion Ltd. (D)		12,751
	304	Telus Corp.		15,203
				92,477
		China — 3.9%
	36,957	Bank of China Ltd. (A)(G)		17,681
	13,599	China Communications Construction Co., Ltd. (A)(G)		35,157
	7,513	China Merchants Bank Co., Ltd. (A)(G)		30,225
	4,716	Shanghai Electric Group Co., Ltd. (A)		3,896
	848	WSP Holdings Ltd. (D)(G)		7,714
				94,673
		Egypt — 1.4%
	419	Orascom Telecom Holding SAE GDR (G)		34,760
		Finland — 2.7%
	1,732	Nokia Oyj (A)		66,525
		France — 8.2%
	41	Alstom RGPT (A)(G)		8,719
	839	Axa S.A. (A)(G)		33,454
	203	BNP Paribas (A)(G)		21,975
	236	Bouygues S.A. (A)(G)		19,626
	421	Cie Generale d’Optique Essilor International S.A. (A)(D)(G)		26,835
	1,158	France Telecom S.A. (A)(G)		41,536
	706	Safran S.A. (A)(G)		14,475
	371	Sanofi-Aventis S.A. (A)		33,949
				200,569
		Germany — 11.2%
	203	Continental AG (A)(G)		26,602
	471	Daimler AG (A)(G)		45,680
	175	Deutsche Boerse AG (A)(G)		34,507
	278	Deutsche Postbank AG (A)(G)		24,699
	340	E.On AG (A)(G)		72,345
	49	K + S AG (A)(G)		11,685
	359	Siemens AG (A)(G)		57,151
				272,669
		Hong Kong — 3.1%
	6,048	China Resources Enterprise (A)(G)		25,684
	4,406	Hengan International Group Co., Ltd. (A)(G)		19,584
	10,232	Shangri-La Asia Ltd. (A)(G)		31,822
				77,090
		India — 2.0%
	247	Bharat Heavy Electricals (A)		16,064
	632	Bharti Televentures (A)(D)		15,807
	127	HDFC Bank Ltd. ADR (G)		16,515
				48,386
		Ireland — 1.9%
	793	Elan Corp. plc ADR (D)(G)		17,421
	1,025	Ryanair Holdings plc (A)(D)		6,950
	539	Ryanair Holdings plc ADR (D)(G)		21,250
				45,621
		Italy — 3.5%
	1,044	Bulgari S.p.A. (A)(G)		14,656
	2,017	Enel S.p.A. (A)		23,979
	5,829	UniCredito Italiano S.p.A. (A)(G)(Q)		47,950
				86,585
		Japan — 10.2%
	259	Astellas Pharma, Inc. (A)		11,237
	466	Canon, Inc. (A)(G)		21,345
	339	Daiichi Sankyo Co., Ltd. (A)		10,431
	266	Eisai Co., Ltd. (A)		10,407
	765	Honda Motor Co., Ltd. (A)(G)		25,255
	12	Japan Tobacco, Inc. (A)(G)		72,337
	297	Mitsubishi Corp. (A)		8,038
	1,545	Mitsubishi Electric Corp. (A)		16,002
	544	Mitsubishi Estate Co., Ltd. (A)		12,961
	1,371	Mitsubishi UFJ Financial Group, Inc. (A)		12,925
	366	Mitsui & Co., Ltd. (A)		7,643
	19	Rakuten, Inc. (A)(G)		9,521
	285	Sony Corp. (A)		15,522
	2,120	Toshiba Corp. (A)(G)		15,645
				249,269
		Luxembourg — 0.9%
	271	Evraz Group S.A.		21,010
		Mexico — 0.8%
	737	Grupo Aeroportuario Del ADR (G)		18,508
		Netherlands — 5.9%
	1,178	Aercap Holdings N.V. (D)(G)		24,583
	1,146	ASML Holding N.V. (A)		36,171
	841	Koninklijke Philips Electronics N.V. (A)		36,030
	1,262	Unilever N.V. CVA (A)		46,383
				143,167
		Norway — 2.8%
	733	Aker Kvaerner (A)		19,358
	438	Petroleum Geo-Services (A)(G)		12,610
	1,567	Telenor ASA (A)		37,186
				69,154
		Papua New Guinea — 0.5%
	4,035	Lihir Gold Ltd. (A)(D)		12,553

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

­ ­  120  ­ ­

					Market
Shares					Value (W)
COMMON STOCK — (continued)
		Russia — 4.1%
	841	OAO Gazprom ADR (G)			$	47,662
	509	TMK OAO GDR (I)				22,095
	810	Uralkali (D)(I)				30,160
						99,917
		South Africa — 1.5%
	508	Impala Platinum Holdings Ltd. (A)				17,636
	1,017	MTN Group Ltd. (A)				19,054
						36,690
		Spain — 2.2%
	1,563	Banco Santander Central Hispano S.A. (A)(Q)				33,757
	2,307	Iberdrola Renovables (D)(Q)				19,058
						52,815
		Sweden — 1.3%
	617	Assa Abloy Ab (A)(G)				12,381
	8,440	Telefonaktiebolaget LM Ericsson (A)				19,754
						32,135
		Switzerland — 5.8%
	707	Julius Baer Holding Ltd. (A)				58,050
	143	Nestle S.A. (A)				65,819
	401	UBS AG (A)				18,471
						142,340
		Turkey — 0.4%
	393	Turkcell Iletisim Hizmetleri ADR (G)				10,838
		United Kingdom — 10.8%
	276	AstraZeneca plc (A)				11,859
	382	Johnson Matthey plc (A)				14,253
	2,115	Man Group plc (A)				24,010
	618	Reckitt Benckiser Group plc (A)				35,885
	252	Rio Tinto plc (A)				26,525
	745	Standard Chartered plc (A)				27,194
	3,489	Tesco plc (A)				33,193
	1,293	Xstrata plc (A)				90,758
						263,677
		United States — 3.2%
	217	Frontline Ltd. (G)				10,426
	1,598	Invesco Ltd.				50,144
	65	Lihir Gold Ltd. ADR (G)				2,033
	133	Synthes, Inc. (A)				16,575
						79,178
		Total common stock (cost $2,055,774)			$	2,423,496
Principal
Amount
SHORT-TERM INVESTMENTS — 14.3%
		Repurchase Agreements — 0.7%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $4,250, collateralized by FNMA 5.00%, 2035, value of $4,334)
$	4,249	4.50% dated 12/31/2007			$	4,249
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $38, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $39)
	38	1.35% dated 12/31/2007				38
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $11,828, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $12,061)
	11,825	4.75% dated 12/31/2007				11,825
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,668, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $1,701)
	1,668	4.60% dated 12/31/2007				1,668
						17,780
Shares
		Securities Purchased with Proceeds from Security Lending — 13.6%
		Cash Collateral Reinvestment Fund:
	330,735	Navigator Prime Portfolio				330,735
Principal
Amount
		Federal Home Loan Mortgage Corporation Collateral Securities:
		FHLMC
$	—	6.01%, 04/11/2017				—
		Federal National Mortgage Association Collateral Securities:
		FNMA
	14	3.75%, 07/25/2008				14
	—	5.00%, 10/15/2011 — 02/16/2012				1
	—	5.20%, 09/18/2012				—
	—	5.50%, 01/23/2012				—
						15
		U.S. Treasury Collateral Securities:
		U.S. Treasury Bond
	—	2.38%, 01/15/2027 (O)				—
						330,750
		Total short-term investments (cost $348,530)			$	348,530
		Total investments (cost $2,404,304) (C)	113.4	%	$	2,772,026
		Other assets and liabilities	(13.4	)%		(327,804	)
		Total net assets	100.0	%	$	2,444,222

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

­ ­  121  ­ ­

Hartford International Opportunities HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

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 95.91% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $2,406,841 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	404,538
Unrealized Depreciation		(39,353	)
Net Unrealized Appreciation	$	365,185

#	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $1,844,452, which represents 75.46% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $52,255, which represents 2.14% of total net assets.
(O)	U.S. Treasury inflation-protected securities (TIPS) are securities in which the principal amount is adjusted for inflation and the semiannual interest payments equal a fixed percentage of the inflation-adjusted principal amount.
(Q)	The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2007 was $4,976.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Euro (Buy)	$	253	$	248		01/02/08	$	5
Euro (Sell)		2,277		2,278		01/02/08		1
Euro (Buy)		6,072		6,076		01/03/08		(4	)
Hong Kong Dollar (Buy)		4,076		4,075		01/02/08		1
Hong Kong Dollar (Buy)		2,248		2,248		01/03/08		—
Japanese Yen (Sell)		14,096		13,802		01/04/08		(294	)
Swedish Krona (Sell)		1,224		1,222		01/03/08		(2	)
Swiss Franc (Buy)		1,293		1,287		01/03/08		6
							$	(287	)

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		12.3	%
Capital Goods		1.8
Consumer Cyclical		8.8
Consumer Staples		10.1
Energy		8.0
Finance		21.3
Health Care		6.8
Services		2.1
Technology		19.7
Transportation		3.5
Utilities		4.7
Short-Term Investments		14.3
Other Assets and Liabilities		(13.4	)
Total		100.0	%

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

­ ­  122  ­ ­

Hartford International Small Company HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 99.2%
		Australia — 7.8%
	936	Austal Ltd. (A)	$	2,324
	1,000	Boart Longyear Group (A)(D)		2,041
	3,661	Centamin Egypt Ltd. (A)(D)		4,329
	484	Oxiana Ltd. (A)(G)		1,459
	583	Programmed Maintenance Services Ltd. (A)		2,610
	222	Ramsay Health Care Ltd. (A)(G)		2,124
	981	Resource Pacific Holdings Ltd. (A)(D)		2,548
	602	Seek Ltd. (A)(G)		4,181
	1,256	Tower Australia Group Ltd. (A)(G)		3,060
	525	Transurban Group (A)(G)		3,135
	1,145	WHK Group Ltd. (A)(G)		2,203
	230	Zinifex Ltd. (A)(G)		2,472
				32,486
		Belgium — 0.8%
	14	Umicore (A)		3,426
		Bermuda — 0.6%
	203	Aquarius Platinum Ltd. (A)		2,323
		Brazil — 2.8%
	76	Dufry South America Ltd. (D)		1,933
	158	Lupatech S.A.		5,312
	7	MPX Mineracao e Energia S.A. (D)		4,278
				11,523
		Canada — 1.2%
	26	First Quantum Minerals Ltd. (A)		2,278
	271	Uranium Participation Corp. (D)(G)		2,883
				5,161
		Chile — 0.3%
	7	Sociedad Quimica Y Minera de Chile S.A. (G)		1,237
		China — 1.6%
	3,564	China Dongxiang Group Co. (D)(G)		2,651
	852	Shandong Weigao Group Medical Polymer Co., Ltd. (A)		1,951
	1,854	Soho China Ltd. (D)(G)		1,914
				6,516
		Denmark — 0.7%
	46	Genmab A/S (A)(D)		2,734
		Finland — 0.9%
	73	Outotec Oyj (A)(D)		3,959
		France — 7.1%
	34	BioMerieux S.A. (A)		3,941
	13	Cegedim S.A. (A)		1,541
	85	Ipsen (A)		5,126
	67	Korian (A)(G)		2,892
	112	Maurel ET Prom (A)(G)		2,338
	88	Rhodia S.A. (A)(D)		3,414
	147	Safran S.A. (A)(G)		3,015
	27	Seche Environment (A)		5,227
	35	Zodiac S.A. (A)(G)		2,242
				29,736
		Germany — 6.3%
	128	Arcandor AG (A)(D)(G)		3,060
	18	K+S AG (A)(G)		4,318
	91	Praktiker Bau-Und Heimwerkermaerkte Holding AG (A)(G)		2,693
	192	Rhoen-Klinikum AG (A)		6,035
	87	Stada Arzneimittel AG (A)		5,374
	169	Symrise AG (A)(D)		4,778
				26,258
		Hong Kong — 6.0%
	4,515	China Power International Development Ltd. (A)(G)		2,097
	1,588	Cosco Pacific Ltd. (A)(G)		4,183
	3,088	Far East Pharmaceutical Technology Co., Ltd. (A)(D)(G)(H)		—
	2,696	First Pacific Co. Ltd. (A)(G)		2,080
	1,573	Shangri-La Asia Ltd. (A)(G)		4,893
	2,302	Shun Tak Holdings Ltd. (A)(G)		3,598
	4,980	Sinofert Holdings Ltd. (A)(G)		4,601
	1,661	Stella International (A)(G)		3,699
				25,151
		India — 0.4%
	92	Dr. Reddy’s Laboratories Ltd. ADR (G)		1,669
		Italy — 5.5%
	177	Ansaldo STS S.p.A. (A)(D)		2,249
	286	Antichi Pellettieri S.p.A. (A)		3,945
	96	Autogrill S.p.A.		1,643
	153	Banco di Desio e della Brianza S.A. (A)		1,577
	65	DiaSorin S.p.A. (A)(D)		1,278
	163	Enia S.p.A. (A)(D)		2,820
	756	Immobiliare Grande Distribuzione (A)(G)		2,243
	75	Mariella Burani Fashion Group S.p.A. (A)		2,063
	65	Pirelli & C. Real Estate S.p.A. (A)		2,394
	115	Prysmian S.p.A. (A)(D)		2,834
				23,046
		Japan — 22.9%
	114	AEON Mall Co., Ltd. (A)(G)		2,986
	725	Daishi Bank Ltd. (A)		2,940
	490	Higo Bank Ltd. (A)		3,179
	382	Hitachi Metals Ltd. (A)(G)		5,137
	247	Iino Kaiun Kaisha Ltd. (A)		2,265
	6	Jupiter Telecommunications Co., Ltd. (A)(D)		4,801
	3	KK DaVinci Advisors (A)(D)(G)		2,362
	103	Kobayashi Pharmaceutical Co., Ltd. (A)(G)		3,862
	716	Mitsubishi Rayon Co., Ltd. (A)(G)		3,452
	100	Miura Co., Ltd. (A)(G)		2,432
	82	Modec, Inc. (A)(G)		2,175
	287	Nabtesco Corp. (A)(G)		4,492
	637	Nachi-Fujikoshi Corp. (A)(G)		2,491
	204	Nok Corp. (A)		4,301
	568	NTN Corp. (A)(G)		4,924
	107	OBIC Business Consultants Ltd. (A)(G)		6,214
	33	OBIC Co., Ltd. (A)(G)		6,098
	90	Point, Inc. (A)(G)		4,538
	1	RISA Partners, Inc. (A)(G)		1,893
	138	Securities Carbon Ltd. (A)		1,413
	330	Shionogi & Co., Ltd. (A)		5,847

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

­ ­  123  ­ ­

Hartford International Small Company HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Japan — (continued)
	1,105	Sumitomo Osaka Cement Co., Ltd. (A)(G)	$	2,089
	99	Sysmex Corp. (A)		4,172
	103	Taiyo Ink Manufacturing Co., Ltd. (A)(G)		3,005
	170	Tokai Carbon Co. (A)(G)		1,518
	27	Toyo Tanso Co., Ltd. (A)(G)		2,149
	80	Uni-Charm Corp. (A)(G)		5,049
				95,784
		Liechtenstein — 1.2%
	20	Verwalt & Privat-Bank AG (A)		5,040
		Malaysia — 0.5%
	4,027	Air Asia BHD (A)(D)		1,936
		Netherlands — 3.1%
	554	Dockwise Ltd. (A)(D)		2,293
	172	Ordina N.V. (A)		3,060
	111	SBM Offshore N.V. (A)		3,494
	255	Spazio Investment N.V.		4,419
				13,266
		Norway — 2.1%
	920	Eitzen Chemical ASA (A)(D)(G)		3,854
	214	TGS Nopec Geophysical Co. ASA (A)(D)(G)		2,919
	273	Wavefield Inseis ASA (A)(D)		2,111
				8,884
		Portugal — 0.7%
	370	Mota — Engil S.A. (A)		2,747
		Singapore — 1.2%
	1,612	The Ascott Group (A)(G)		1,349
	2,313	Goodpack Ltd. (A)(G)		3,620
				4,969
		South Korea — 2.6%
	15	Cheil Communications, Inc. (A)(D)		4,429
	44	Hanjin Heavy Industrial & Construction (D)		3,231
	39	Hyundai Steel Co. (A)(D)		3,260
				10,920
		Spain — 2.0%
	235	Laboratorios Almiral S.A. (A)(D)		5,155
	88	Prosegur Compania de Seguridad S.A. (A)(G)		3,133
				8,288
		Sweden — 3.1%
	400	Lundin Petroleum Ab (A)(D)		4,156
	196	Munters Ab (A)(G)		2,328
	264	Swedish Match Ab (A)		6,280
				12,764
		Switzerland — 3.5%
	27	Bachem Holding AG Class B (A)		2,322
	73	Dufry Group		8,155
	103	Paris RE Holdings Ltd. (D)		2,115
	89	Temenos Group AG (A)(D)		2,201
				14,793
		United Kingdom — 14.3%
	193	Admiral Group plc (A)		4,232
	90	Aveva Group plc (A)		1,725
	504	Clapham House Group plc (A)(D)		1,703
	542	Detica Group plc (A)		2,378
	258	easyJet plc (A)(D)		3,128
	489	Fenner plc (A)		2,375
	2,317	Guinness Peat Group plc (A)		3,094
	170	Hamworthy KSE		1,437
	87	Homeserve plc (A)		2,906
	461	Informa Group plc (A)		4,225
	364	Lancashire Holdings Ltd. (A)(D)(G)		2,642
	441	Mears Group plc (A)		2,047
	526	Meggitt plc (A)		3,483
	579	Petrofac Ltd. (A)		6,329
	512	Rexam plc (A)		4,266
	913	Senior plc (A)		2,127
	150	Ultra Electronics Holdings plc (A)		4,113
	197	VT Group plc (A)		2,699
	113	Wellstream Holdings plc (A)(D)		2,428
	605	Wolfson Microelectronics plc (A)(D)		2,500
				59,837
		Total common stock (cost $393,853)	$	414,453
SHORT-TERM INVESTMENTS — 22.4%
		Securities Purchased with Proceeds from Security Lending — 22.4%
		Cash Collateral Reinvestment Fund:
	93,473	Navigator Prime Portfolio	$	93,473
Principal
Amount
		Federal Home Loan Bank Collateral Securities:
		Federal Home Loan Bank
$	2	5.00%, 02/29/2008		2
		Federal Home Loan Mortgage Corporation Collateral Securities:
		Federal Home Loan Mortgage Corporation
	214	4.75%, 03/05/2009		220
	—	5.13%, 08/23/2010		—
				220
		U.S. Treasury Collateral Securities:
		U.S. Treasury Bond
	21	6.00%, 02/15/2026		26
	—	7.63%, 02/15/2025		—
	—	8.13%, 08/15/2019		—
		U.S. Treasury Note
	—	3.63%, 01/15/2008		—
	—	3.88%, 01/15/2009 (O)		—

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

­ ­  124  ­ ­

Principal					Market
Amount					Value (W)
		U.S. Treasury Collateral Securities: — (continued)
		U.S. Treasury Strip
$	4	4.68%, 02/15/2023 ►			$	2
						28
		Total short-term investments (cost $93,723)			$	93,723
		Total investments (cost $487,576) (C)	121.6	%	$	508,176
		Other assets and liabilities	(21.6	)%		(90,136	)
		Total net assets	100.0	%	$	418,040

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 98.59% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $489,400 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	45,829
Unrealized Depreciation		(27,053	)
Net Unrealized Appreciation	$	18,776

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $371,576, which represents 88.89% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(O)	U.S. Treasury inflation-protected securities (TIPS) are securities in which the principal amount is adjusted for inflation and the semiannual interest payments equal a fixed percentage of the inflation-adjusted principal amount.
►	The interest rates disclosed for interest only strips represent effective yields based upon estimated future cash flows at December 31, 2007.
(H)	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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
03/2004 – 05/2004		3,088	Far East Pharmaceutical Technology Co., Ltd.	$	445

The aggregate value of these securities at December 31, 2007 rounds to zero.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Australian Dollar (Sell)	$	118	$	118		01/02/08	$	—
Australian Dollar (Sell)		44		44		01/03/08		—
Australian Dollar (Sell)		453		453		01/04/08		—
British Pound (Buy)		23		23		01/02/08		—
British Pound (Sell)		547		547		01/03/08		—
British Pound (Sell)		55		55		01/04/08		—
Euro (Sell)		106		106		01/02/08		—
Japanese Yen (Sell)		2,070		2,027		01/04/08		(43	)
							$	(43	)

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		19.7	%
Capital Goods		6.6
Consumer Cyclical		10.6
Consumer Staples		1.8
Energy		6.5
Finance		13.0
Health Care		14.3
Services		6.8
Technology		9.8
Transportation		7.1
Utilities		3.0
Short-Term Investments		22.4
Other Assets and Liabilities		(21.6	)
Total		100.0	%

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

­ ­  125  ­ ­

Hartford LargeCap Growth HLS Fund (formerly Hartford Blue Chip Stock HLS Fund)

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 99.4%
		Basic Materials — 1.8%
	21	AK Steel Holding Corp. (D)	$	948
	8	Precision Castparts Corp.		1,054
	19	Shaw Group, Inc. (D)		1,118
				3,120
		Capital Goods — 6.7%
	12	3M Co.		987
	22	Boeing Co.		1,880
	24	Caterpillar, Inc.		1,770
	39	Dresser-Rand Group, Inc. (D)		1,539
	21	Honeywell International, Inc.		1,275
	18	Illinois Tool Works, Inc. (G)		958
	41	Novellus Systems, Inc. (D)(G)		1,125
	12	Textron, Inc.		870
	15	United Technologies Corp.		1,117
				11,521
		Consumer Cyclical — 11.1%
	25	Altria Group, Inc.		1,920
	18	Amazon.com, Inc. (D)(G)		1,649
	7	AutoZone, Inc. (D)		815
	107	Big Lots, Inc. (D)(G)		1,708
	42	Coach, Inc. (D)		1,281
	12	Costco Wholesale Corp.		851
	31	Dick’s Sporting Goods, Inc. (D)		861
	6	Foster Wheeler Ltd. (D)		930
	22	GameStop Corp. Class A (D)		1,335
	25	NIKE, Inc. Class B		1,625
	3	NVR, Inc. (D)(G)		1,541
	140	RadioShack Corp. (G)		2,355
	30	TJX Cos., Inc.		874
	27	Wal-Mart Stores, Inc.		1,269
				19,014
		Consumer Staples — 6.3%
	25	Coca-Cola Co.		1,534
	17	Colgate-Palmolive Co.		1,302
	22	Kellogg Co.		1,143
	14	Loews Corp. — Carolina Group		1,160
	26	PepsiCo, Inc.		1,963
	19	Procter & Gamble Co.		1,372
	24	UST, Inc. (G)		1,332
	18	William Wrigley, Jr. Co.		1,036
				10,842
		Energy — 5.1%
	27	ENSCO International, Inc.		1,622
	22	Exxon Mobil Corp.		2,094
	79	Global Industries (D)		1,694
	15	Schlumberger Ltd.		1,476
	20	Tesoro Corp.		949
	35	Western Refining, Inc. (G)		857
				8,692
		Finance — 15.1%
	19	Aetna, Inc.		1,120
	26	Aflac, Inc.		1,647
	23	American Express Co.		1,176
	42	Charles Schwab Corp.		1,071
	16	Cigna Corp.		860
	1	CME Group, Inc.		974
	20	Eaton Vance Corp. (G)		922
	27	Federated Investors, Inc.		1,115
	23	Health Net, Inc. (D)		1,130
	29	Humana, Inc. (D)		2,214
	7	IntercontinentalExchange, Inc. (D)		1,424
	45	Invesco Ltd.		1,421
	45	Janus Capital Group, Inc. (G)		1,485
	9	Mastercard, Inc. (G)		1,829
	12	PartnerRe Ltd.		974
	22	Philadelphia Consolidated Holding Corp. (D)		858
	10	Prudential Financial, Inc.		968
	17	T. Rowe Price Group, Inc.		1,004
	22	UnitedHealth Group, Inc.		1,298
	19	Wellcare Health Plans, Inc. (D)(G)		817
	11	Wellpoint, Inc. (D)		930
	15	XL Capital Ltd. Class A		735
				25,972
		Health Care — 14.1%
	20	Abbott Laboratories		1,112
	13	Allergan, Inc.		835
	24	Amgen, Inc. (D)		1,105
	33	Bristol-Myers Squibb Co.		867
	24	Coventry Health Care, Inc. (D)		1,416
	19	Eli Lilly & Co.		1,014
	56	Endo Pharmaceuticals Holdings, Inc. (D)		1,504
	40	Forest Laboratories, Inc. (D)		1,462
	24	Herbalife Ltd.		963
	26	Johnson & Johnson		1,714
	19	McKesson Corp.		1,258
	19	Medco Health Solutions, Inc. (D)		1,896
	36	Merck & Co., Inc.		2,066
	15	Monsanto Co.		1,653
	40	Sepracor, Inc. (D)(G)		1,058
	106	Warner Chilcott Ltd. (D)(G)		1,874
	38	Watson Pharmaceuticals, Inc. (D)		1,029
	30	Wyeth		1,339
				24,165
		Services — 9.6%
	58	Accenture Ltd. Class A		2,097
	23	Apollo Group, Inc. Class A (D)		1,599
	34	Autodesk, Inc. (D)		1,692
	14	DST Systems, Inc. (D)(G)		1,114
	13	Express Scripts, Inc. (D)		934
	6	Fluor Corp.		933
	19	ITT Educational Services, Inc. (D)(G)		1,620
	170	Novell, Inc. (D)		1,167
	158	Regal Entertainment Group (G)		2,855
	37	Synopsys, Inc. (D)		954
	44	Walt Disney Co.		1,411
				16,376

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

­ ­  126  ­ ­

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Technology — 28.1%
	27	Adobe Systems, Inc. (D)	$	1,137
	36	Analog Devices, Inc.		1,141
	17	Apple, Inc. (D)		3,387
	54	Applied Materials, Inc.		956
	60	BMC Software, Inc. (D)		2,121
	58	CA, Inc.		1,437
	85	Cisco Systems, Inc. (D)		2,290
	23	Citrix Systems, Inc. (D)		855
	36	Corning, Inc.		859
	10	Danaher Corp.		904
	31	Dolby Laboratories, Inc. Class A (D)		1,551
	124	EMC Corp. (D)		2,290
	16	Emerson Electric Co.		929
	8	Garmin Ltd. (G)		795
	4	Google, Inc. (D)		3,029
	45	Hewlett-Packard Co.		2,256
	91	Intel Corp.		2,427
	18	International Business Machines Corp.		1,964
	56	Juniper Networks, Inc. (D)		1,856
	8	L-3 Communications Holdings, Inc.		837
	28	LAM Research Corp. (D)(G)		1,189
	13	Lockheed Martin Corp.		1,356
	12	MEMC Electronic Materials, Inc. (D)		1,062
	95	Microsoft Corp.		3,373
	44	National Semiconductor Corp. (G)		994
	58	NVIDIA Corp. (D)		1,987
	100	Oracle Corp. (D)		2,265
	34	Qualcomm, Inc.		1,318
	50	Texas Instruments, Inc.		1,683
				48,248
		Utilities — 1.5%
	38	Mirant Corp. (D)(G)		1,473
	20	PPL Corp.		1,037
				2,510
		Total common stock (cost $165,602)	$	170,460
EXCHANGE TRADED FUNDS — 0.5%
		Finance — 0.5%
	15	iShares Russell 1000	$	912
		Total exchange traded funds (cost $924)	$	912
		Total long-term investments (cost $166,526)	$	171,372
Principal
Amount
SHORT-TERM INVESTMENTS — 15.4%
		Repurchase Agreements — 0.1%
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2008 in the amount of $51, collateralized by U.S. Treasury Note 3.63%, 2012, value of $52)
$	51	1.30% dated 12/31/2007	$	51
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2008 in the amount of $49, collateralized by U.S. Treasury Note 3.38% — 12.50%, 2009 — 2014, value of $50)
	49	1.25% dated 12/31/2007		49
				100
Shares
		Securities Purchased with Proceeds from Security Lending — 15.3%
		Cash Collateral Reinvestment Fund:
	20,819	Navigator Prime Portfolio		20,819
Principal
Amount
		Federal Home Loan Bank Collateral Securities:
		Federal Home Loan Bank
$	728	4.00%, 02/06/2009		749
	4	4.60%, 11/28/2008		4
	1,943	5.25%, 01/16/2009		2,014
				2,767
		Federal Home Loan Mortgage Corporation Collateral Securities:
		Federal Home Loan Mortgage Corporation
	237	4.03%, 02/04/2000		236
	13	6.01%, 04/11/2017		13
				249
		Federal National Mortgage Association Collateral Securities:
		Federal National Mortgage Association
	8	3.75%, 07/25/2008		8
	11	5.00%, 10/15/2011 — 02/16/2012		12
	915	5.20%, 09/18/2012		934
	56	4.02%, 03/28/1996		55
	18	5.50%, 01/23/2012		19
				1,028
		U.S. Treasury Collateral Securities:
		U.S. Treasury Bond
	17	2.00%, 01/15/2026 (O)		19
	—	2.38%, 01/15/2025 — 01/15/2027 (O)		—
	1	3.88%, 04/15/2029 (O)		3
	—	8.75%, 08/15/2020		—
		U.S. Treasury Note
	53	0.88%, 04/15/2010 (O)		58
	472	1.63%, 01/15/2015 (O)		523
	137	1.88%, 07/15/2013 — 07/15/2015 (O)		155
	222	2.00%, 04/15/2012 — 01/15/2016 (O)		260
	—	2.38%, 01/15/2017 (O)		—
	2	2.50%, 07/15/2016 (O)		2
	—	3.38%, 10/15/2009		—
	414	3.63%, 10/31/2009		420
				1,440
				26,303

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

­ ­  127  ­ ­

Hartford LargeCap Growth HLS Fund (formerly Hartford Blue Chip Stock HLS Fund)

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal					Market
Amount					Value (W)
		U.S. Treasury Bills — 0.0%
$	100	2.85%, 03/13/2008 (M)			$	99
		Total short-term investments (cost $26,502)			$	26,502
		Total investments (cost $193,028) (C)	115.3	%	$	197,874
		Other assets and liabilities	(15.3	)%		(26,309	)
		Total net assets	100.0	%	$	171,565

Note:  Percentage of investments as shown is the ratio of the total market value to total net assets.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $193,935 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	14,787
Unrealized Depreciation		(10,848	)
Net Unrealized Appreciation	$	3,939

(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(M)	The interest rate disclosed for these securities represents the effective yield on the date of acquisition.
(O)	U.S. Treasury inflation-protected securities (TIPS) are securities in which the principal amount is adjusted for inflation and the semiannual interest payments equal a fixed percentage of the inflation-adjusted principal amount.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  128  ­ ­

Hartford MidCap HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 99.4%
		Basic Materials — 11.0%
	411	Agrium, Inc.	$	29,657
	292	Carlisle Cos., Inc. (G)		10,825
	412	CF Industries Holdings, Inc.		45,345
	489	Cleveland-Cliffs, Inc. (G)		49,251
	328	Consol Energy, Inc.		23,437
	439	FMC Corp.		23,926
	311	Kingboard Chemical Holdings Ltd. (A)		1,834
	16	Lupatech S.A.		522
	400	Nucor Corp.		23,676
	471	Owens-Illinois, Inc. (D)		23,295
	386	Peabody Energy Corp.		23,781
	217	Precision Castparts Corp.		30,139
	636	Thompson Creek Metals Co. Inc (D)		10,942
	303	United States Steel Corp.		36,636
				333,266
		Capital Goods — 2.2%
	886	Kennametal, Inc.		33,544
	605	Toro Co. (G)		32,909
				66,453
		Consumer Cyclical — 16.6%
	259	Abercrombie & Fitch Co. Class A		20,744
	1,001	American Eagle Outfitters, Inc. (G)		20,790
	1,257	BJ’s Wholesale Club, Inc. (D)		42,524
	514	BorgWarner, Inc.		24,883
	1,008	Dick’s Sporting Goods, Inc. (D)(G)		27,988
	286	Foster Wheeler Ltd. (D)		44,305
	720	Gildan Activewear, Inc. (D)		29,643
	3,617	Greentown China Holdings (A)(G)		5,604
	8,092	Li & Fung Ltd. (A)(G)		32,261
	515	Liz Claiborne, Inc. (G)		10,489
	1,028	Newell Rubbermaid, Inc.		26,602
	43	NVR, Inc. (D)(G)		22,742
	619	O’Reilly Automotive, Inc. (D)		20,064
	501	Oshkosh Truck Corp. (G)		23,673
	446	PACCAR, Inc. (G)		24,303
	320	Patterson Cos., Inc. (D)		10,854
	7,858	Peace Mark Holdings Ltd. (A)(G)		12,481
	951	PetSmart, Inc.		22,378
	1,175	Supervalu, Inc.		44,071
	588	Tiffany & Co.		27,070
	185	Under Armour, Inc. Class A (D)(G)		8,092
				501,561
		Consumer Staples — 1.6%
	722	Clorox Co.		47,079
		Energy — 7.5%
	513	Cie Gen Geophysique — SP ADR (D)		28,737
	160	Diamond Offshore Drilling, Inc. (G)		22,663
	847	Forest Oil Corp. (D)		43,046
	466	Noble Energy, Inc. (G)		37,080
	32	Seadrill Ltd. (A)(D)		772
	370	Southwestern Energy Co. (D)		20,639
	1,309	UGI Corp.		35,681
	512	Ultra Petroleum Corp. (D)		36,587
				225,205
		Finance — 9.9%
	6,948	Aberdeen Asset Management plc (A)(G)		22,918
	120	Blackrock, Inc. (G)		25,994
	480	Bovespa Holding S.A. (D)		9,245
	179	Everest Re Group Ltd.		17,972
	363	Forest City Enterprises, Inc. Class A (G)		16,123
	335	Health Net, Inc. (D)		16,162
	461	Kimco Realty Corp.		16,788
	428	State Street Corp.		34,762
	363	T. Rowe Price Group, Inc.		22,069
	1,616	UCBH Holdings, Inc. (G)		22,885
	1,296	Unum Group		30,825
	489	Waddell and Reed Financial, Inc. Class A		17,655
	1,901	Western Union Co.		46,161
				299,559
		Health Care — 14.1%
	642	Amylin Pharmaceuticals, Inc. (D)(G)		23,758
	829	Barr Pharmaceuticals, Inc. (D)		44,009
	771	Beckman Coulter, Inc. (G)		56,151
	472	Brookdale Senior Living, Inc. (G)		13,401
	357	Cephalon, Inc. (D)(G)		25,588
	705	Charles River Laboratories International, Inc. (D)(G)		46,376
	1,200	Community Health Systems, Inc. (D)(G)		44,247
	989	Elan Corp. plc ADR (D)		21,734
	44	Intuitive Surgical, Inc. (D)		14,408
	1,593	Millennium Pharmaceuticals, Inc. (D)		23,869
	181	Regeneron Pharmaceuticals, Inc. (D)		4,379
	446	Respironics, Inc. (D)		29,227
	580	Sepracor, Inc. (D)		15,212
	595	St. Jude Medical, Inc. (D)		24,189
	761	Universal Health Services, Inc. Class B		38,968
				425,516
		Services — 12.7%
	3,149	Allied Waste Industries, Inc. (D)(G)		34,699
	691	Autodesk, Inc. (D)		34,359
	416	C.H. Robinson Worldwide, Inc.		22,525
	2,165	Cadence Design Systems, Inc. (D)		36,830
	1,165	DreamWorks Animation SKG, Inc. (D)		29,762
	1,192	Equifax, Inc. (D)		43,337
	187	Factset Research Systems, Inc.		10,421
	115	Fluor Corp.		16,700
	165	ITT Educational Services, Inc. (D)		14,061
	619	Manpower, Inc.		35,204
	1,762	Republic Services, Inc.		55,236
	1,339	Robert Half International, Inc.		36,209
	81	Strayer Education, Inc.		13,817
				383,160
		Technology — 18.1%
	1,003	Activision, Inc. (D)		29,795
	2,502	Altera Corp.		48,341
	476	American Tower Corp. Class A (D)		20,256
	566	BMC Software, Inc. (D)		20,157
	476	CommScope, Inc. (D)(G)		23,419
	237	Ctrip.com International Ltd.		13,646
	340	DaVita, Inc. (D)		19,142

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

­ ­  129  ­ ­

Hartford MidCap HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

				Market
Shares				Value (W)
COMMON STOCK — (continued)
		Technology — (continued)
	700	Electronic Arts, Inc. (D)		$	40,910
	724	Emulex Corp. (D)			11,818
	285	Equinix, Inc. (D)(G)			28,815
	440	F5 Networks, Inc. (D)			12,535
	715	FLIR Systems, Inc. (D)(G)			22,386
	634	LAM Research Corp. (D)			27,421
	644	Linear Technology Corp. (G)			20,511
	283	Logitech International S.A. (D)(G)			10,387
	1,151	McAfee, Inc. (D)			43,166
	645	National Instruments Corp.			21,501
	296	Network Appliance, Inc. (D)			7,378
	448	Rockwell Collins, Inc.			32,207
	882	SanDisk Corp. (D)			29,239
	2,964	Sonus Networks, Inc. (D)(G)			17,279
	1,200	VeriSign, Inc. (D)(G)			45,147
					545,456
		Transportation — 2.8%
	248	Con-way, Inc. (G)			10,285
	269	Expeditors International of Washington, Inc. (G)			12,019
	1,262	J.B. Hunt Transport Services, Inc. (G)			34,765
	668	Landstar System, Inc.			28,148
					85,217
		Utilities — 2.9%
	1,198	DPL, Inc. (G)			35,518
	1,184	Northeast Utilities			37,080
	103	Sunpower Corp. (D)(G)			13,430
					86,028
		Total common stock (cost $2,710,623)		$	2,998,500
Principal
Amount
SHORT-TERM INVESTMENTS — 13.3%
		Repurchase Agreements — 0.6%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $4,408, collateralized by FNMA 5.00%, 2035, value of $4,495)
$	4,407	4.50% dated 12/31/2007		$	4,407
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $40, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $41)
	40	1.35% dated 12/31/2007			40
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $12,267, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $12,509)
	12,264	4.75% dated 12/31/2007			12,264
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,730, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $1,764)
	1,729	4.60% dated 12/31/2007			1,729
					18,440
Shares
		Securities Purchased with Proceeds from Security Lending — 12.7%
		Cash Collateral Reinvestment Fund:
	358,456	Navigator Prime Portfolio			358,456
Principal
Amount
		Federal Home Loan Bank Collateral Securities:
		Federal Home Loan Bank
$	368	3.98%, 05/02/2008			363
	636	4.00%, 02/06/2009			654
	12	4.60%, 11/28/2008			12
	346	5.25%, 01/16/2009			358
					1,387
		Federal Home Loan Mortgage Corporation Collateral Securities:
		Federal Home Loan Mortgage Corporation
	356	4.03%, 02/04/2000			354
	1,229	4.04%, 01/25/2008			1,226
					1,580
		Federal National Mortgage Association Collateral Securities:
		Federal National Mortgage Corporation
	2,025	4.02%, 03/28/2008			2,005
	434	4.06%, 03/03/2008			431
					2,436
			��
		U.S. Treasury Collateral Securities:
		U.S. Treasury Bond
	946	2.00%, 01/15/2026 (O)			1,005
	—	2.38%, 01/15/2025 (O)			1
	18	3.38%, 04/15/1932 (O)			27
	9	3.88%, 04/15/2029 (O)			15
	—	8.75%, 08/15/2020			—

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

­ ­  130  ­ ­

Principal					Market
Amount					Value (W)
SHORT-TERM INVESTMENTS — (continued)
		Securities Purchased with Proceeds from Security Lending — (continued)
		U.S. Treasury Collateral Securities: — (continued)
		U.S. Treasury Note
$	6,316	0.88%, 04/15/2010 (O)			$	6,961
	1,940	1.88%, 07/15/2013 — 07/15/2015 (O)				2,295
	1,670	2.00%, 01/15/2014 — 01/15/2016 (O)				1,922
	136	2.38%, 01/15/2017 (O)				150
	99	2.50%, 07/15/2016 (O)				106
	—	2.63%, 07/15/2017 (O)				—
	1	3.38%, 10/15/2009				1
	2,961	3.63%, 10/31/2009				3,005
	3,595	4.25%, 01/15/2010 (O)				4,855
						20,343
						384,202
		Total short-term investments (cost $402,642)			$	402,642
		Total investments (cost $3,113,265) (C)	112.7	%	$	3,401,142
		Other assets and liabilities	(12.7	)%		(382,706	)
		Total net assets	100.0	%	$	3,018,436

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 7.63% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $3,114,040 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	409,882
Unrealized Depreciation		(122,780	)
Net Unrealized Appreciation	$	287,102

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $75,870, which represents 2.51% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(O)	U.S. Treasury inflation-protected securities (TIPS) are securities in which the principal amount is adjusted for inflation and the semiannual interest payments equal a fixed percentage of the inflation-adjusted principal amount.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Hong Kong Dollar (Sell)	$	542	$	541		01/02/08	$	(1	)
Hong Kong Dollar (Sell)		1,019		1,019		01/03/08		—
Norwegian Krone (Buy)		782		785		01/04/08		(3	)
							$	(4	)

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  131  ­ ­

Hartford MidCap Growth HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 99.2%
		Basic Materials — 7.7%
	3	Airgas, Inc.	$	175
	4	Ball Corp.		196
	8	Cabot Corp. (G)		268
	77	Chemtura Corp.		598
	3	Church & Dwight Co., Inc. (G)		160
	2	Cleveland-Cliffs, Inc. (G)		169
	58	Domtar Corp. (D)(G)		446
	5	Lubrizol Corp.		274
	4	Massey Energy Co. (G)		134
	4	Owens-Illinois, Inc. (D)		193
	4	Packaging Corp. of America		124
	2	Rohm & Haas Co. (G)		125
	14	RPM International, Inc. (G)		292
	9	Sealed Air Corp. (G)		218
	4	Steel Dynamics, Inc. (G)		212
	15	Valspar Corp. (G)		347
				3,931
		Capital Goods — 4.5%
	3	Goodrich Corp.		242
	5	International Game Technology (G)		235
	6	Joy Global, Inc. (G)		369
	7	Lennox International, Inc. (G)		308
	4	National Oilwell Varco, Inc. (D)		294
	3	Pall Corp.		133
	2	Smith International, Inc. (G)		176
	5	Textron, Inc.		323
	7	Varian Semiconductor Equipment Associates, Inc. (D)(G)		250
				2,330
		Consumer Cyclical — 12.8%
	3	Abercrombie & Fitch Co. Class A		226
	3	Avery Dennison Corp.		138
	7	Avnet, Inc. (D)(G)		236
	8	Barnes & Noble, Inc.		276
	19	Big Lots, Inc. (D)(G)		296
	4	BorgWarner, Inc. (G)		179
	5	Copart, Inc. (D)		225
	8	Crocs, Inc. (D)(G)		305
	10	Dick’s Sporting Goods, Inc. (D)(G)		290
	12	Dollar Tree Stores, Inc. (D)(G)		306
	4	Fastenal Co. (G)		168
	2	Foster Wheeler Ltd. (D)		363
	6	GameStop Corp. Class A (D)		392
	4	Guess?, Inc.		146
	5	MSC Industrial Direct Co., Inc. (G)		200
	11	Nalco Holding Co. (G)		264
	1	NVR, Inc. (D)(G)		346
	20	RadioShack Corp. (G)		337
	7	Reliance Steel & Aluminum		382
	16	Saks, Inc. (D)(G)		324
	5	Scotts Miracle-Gro Co. Class A (G)		168
	3	Sherwin-Williams Co. (G)		170
	6	Tim Hortons, Inc. (G)		205
	9	TJX Cos., Inc.		269
	9	Yum! Brands, Inc. (G)		331
				6,542
		Consumer Staples — 2.4%
	4	Hansen National Corp. (D)(G)		168
	4	Loews Corp. — Carolina Group		305
	4	Pepsi Bottling Group, Inc.		170
	4	UST, Inc.		239
	6	William Wrigley, Jr. Co.		332
				1,214
		Energy — 11.7%
	9	BJ Services Co. (G)		216
	12	Chesapeake Energy Corp. (G)		478
	2	Constellation Energy Group, Inc.		188
	4	ENSCO International, Inc. (G)		219
	6	Frontier Oil Corp.		243
	7	Global Industries (D)		154
	7	Helix Energy Solutions Group, Inc. (D)(G)		288
	4	Holly Corp. (G)		192
	12	Nabors Industries Ltd. (D)		319
	2	Noble Energy, Inc. (G)		158
	2	Oceaneering International, Inc. (D)		120
	10	Pride International, Inc. (D)		353
	6	Rowan Companies, Inc.		235
	7	Sunoco, Inc. (G)		475
	5	Superior Energy Services, Inc. (D)		174
	10	Tesoro Corp.		496
	12	Unit Corp. (D)		537
	16	W&T Offshore, Inc. (G)		487
	4	Weatherford International Ltd. (D)		287
	9	Western Refining, Inc. (G)		220
	4	Williams Cos., Inc.		138
				5,977
		Finance — 12.5%
	2	Affiliated Managers Group, Inc. (D)(G)		189
	4	CIGNA Corp.		231
	6	Eaton Vance Corp. (G)		257
	3	Erie Indemnity Co. (G)		136
	8	Federated Investors, Inc.		319
	3	Health Care, Inc. (G)		143
	6	Health Net, Inc. (D)		309
	10	Humana, Inc. (D)		752
	2	IntercontinentalExchange, Inc. (D)		398
	7	Invesco Ltd.		232
	9	Janus Capital Group, Inc. (G)		304
	2	Macerich Co. (G)		135
	3	Mastercard, Inc. (G)		618
	6	Nasdaq Stock Market, Inc. (D)		292
	2	Northern Trust Corp.		138
	1	Nymex Holdings, Inc.		190
	2	PartnerRe Ltd.		180
	3	ProLogis		195
	6	T. Rowe Price Group, Inc. (G)		357
	6	Taubman Centers, Inc. (G)		274
	11	TD Ameritrade Holding Corp. (D)(G)		211
	5	Ventas, Inc.		244
	7	Wellcare Health Plans, Inc. (D)(G)		285
				6,389
		Health Care — 6.8%
	3	Allergan, Inc. (G)		188
	7	Amerisource Bergen Corp. (G)		303
	5	Barr Pharmaceuticals, Inc. (D)		283

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

­ ­  132  ­ ­

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Health Care — (continued)
	2	Covance, Inc. (D)	$	176
	7	Coventry Health Care, Inc. (D)(G)		395
	11	Endo Pharmaceuticals Holdings, Inc. (D)		303
	3	Henry Schein, Inc. (D)(G)		164
	7	Herbalife Ltd.		280
	4	Hospira, Inc. (D)(G)		151
	8	ImClone Systems, Inc. (D)(G)		340
	1	Intuitive Surgical, Inc. (D)		225
	3	Kinetic Concepts, Inc. (D)(G)		162
	6	Sepracor, Inc. (D)(G)		164
	12	Watson Pharmaceuticals, Inc. (D)(G)		334
				3,468
		Services — 13.1%
	6	Apollo Group, Inc. Class A (D)		450
	6	Autodesk, Inc. (D)		321
	6	Broadridge Financial Solutions		128
	2	Central European Media Enterprises Ltd. (D)		183
	7	CTC Media, Inc. (D)(G)		199
	9	Discovery Holding Co. (D)(G)		224
	9	DreamWorks Animation SKG, Inc. (D)		217
	4	DST Systems, Inc. (D)(G)		304
	4	EchoStar Communications Corp. Class A (D)		155
	11	Electronic Data Systems Corp.		222
	6	Express Scripts, Inc. (D)		432
	3	Factset Research Systems, Inc. (G)		160
	2	Harsco Corp.		149
	4	Hewitt Associates, Inc. (D)		163
	3	IDEXX Laboratories, Inc. (D)		176
	4	ITT Educational Services, Inc. (D)(G)		316
	7	Liberty Global, Inc. (D)(G)		272
	62	Novell, Inc. (D)		427
	5	Paychex, Inc.		197
	3	Pediatrix Medical Group, Inc. (D)		203
	13	Regal Entertainment Group (G)		233
	6	Republic Services, Inc.		196
	6	SEI Investments Co. (G)		208
	6	Stericycle, Inc. (D)		356
	7	URS Corp. (D)		367
	3	VCA Antech, Inc. (D)		124
	4	Weight Watchers International, Inc. (G)		165
	2	Wynn Resorts Ltd. (G)		178
				6,725
		Technology — 23.8%
	9	Activision, Inc. (D)		264
	4	Affiliated Computer Services, Inc. Class A (D)		196
	9	Agilent Technologies, Inc. (D)(G)		340
	4	American Tower Corp. Class A (D)		151
	3	AMETEK, Inc.		127
	3	Amphenol Corp. Class A		130
	7	Arrow Electronics, Inc. (D)(G)		285
	15	BMC Software, Inc. (D)(G)		531
	31	Brocade Communications Systems, Inc. (D)(G)		229
	16	CA, Inc. (G)		407
	14	Citizens Communications Co. (G)		173
	5	CommScope, Inc. (D)		249
	19	Compuware Corp. (D)(G)		168
	8	Cree, Inc. (D)(G)		223
	6	Dentsply International, Inc. (G)		263
	8	Dolby Laboratories, Inc. Class A (D)		378
	3	Electronic Arts, Inc. (D)		155
	1	First Solar, Inc. (D)		283
	4	Harris Corp.		237
	3	Hubbell, Inc. Class B (G)		172
	12	Intersil Corp.		295
	5	Juniper Networks, Inc. (D)		181
	5	KLA-Tencor Corp.		243
	2	L-3 Communications Holdings, Inc. (G)		254
	10	Leap Wireless International, Inc. (D)(G)		448
	2	MEMC Electronic Materials, Inc. (D)		215
	1	Mettler-Toledo International, Inc. (D)		135
	8	Microchip Technology, Inc. (G)		256
	21	National Semiconductor Corp.		469
	13	NCR Corp. (D)(G)		316
	6	Network Appliance, Inc. (D)		152
	8	NVIDIA Corp. (D)		282
	17	QLogic Corp. (D)(G)		237
	6	Rockwell Collins, Inc.		400
	2	Roper Industries, Inc.		124
	7	SanDisk Corp. (D)(G)		237
	9	SBA Communications Corp. (D)(G)		313
	12	Seagate Technology		312
	4	Silicon Laboratories, Inc. (D)(G)		161
	6	Telephone and Data Systems, Inc.		386
	5	Teradata Corp. (D)		134
	8	Trimble Navigation Ltd. (D)(G)		250
	3	U.S. Cellular Corp. (D)		217
	9	VeriSign, Inc. (D)(G)		329
	5	Waters Corp. (D)		388
	3	WebMD Health Corp. (D)(G)		115
	8	Western Digital Corp. (D)		249
	4	Zebra Technologies Corp. Class A (D)		142
				12,201
		Transportation — 1.2%
	5	Frontline Ltd. (G)		262
	11	Gentex Corp. (G)		187
	4	UAL Corp. (D)(G)		151
				600
		Utilities — 2.7%
	21	CenterPoint Energy, Inc. (G)		356
	39	Dynegy Holdings, Inc. (D)(G)		276
	7	NRG Energy, Inc. (D)(G)		306
	28	Sierra Pacific Resources		466
				1,404
		Total common stock (cost $50,272)	$	50,781
EXCHANGE TRADED FUNDS — 0.4%
		Other Investment Pools and Funds — 0.4%
	2	iShares Russell Midcap Growth (G)		235
		Total exchange traded funds (cost $233)	$	235
		Total long-term investments (cost $50,505)	$	51,016

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

­ ­  133  ­ ­

Hartford MidCap Growth HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal					Market
Amount					Value (W)
SHORT-TERM INVESTMENTS — 29.4%
		Repurchase Agreements — 0.3%
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2008 in the amount of $81, collateralized by U.S. Treasury Note 3.63%, 2012, value of $83)
$	81	1.30% dated 12/31/2007			$	81
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2008 in the amount of $79, collateralized by U.S. Treasury Note 3.38% — 12.50%, 2009 — 2014, value of $81)
	79	1.25% dated 12/31/2007				79
						160
Shares
		Securities Purchased with Proceeds from Security Lending — 29.0%
		Cash Collateral Reinvestment Fund:
	13,839	Navigator Prime Portfolio				13,839
Principal
Amount
		Federal Home Loan Bank Collateral Securities:
		FHLB
$	459	3.98%, 05/02/2008				454
	8	4.00%, 02/06/2009				8
	1	4.60%, 11/28/2008				1
						463
		Federal Home Loan Mortgage Corporation Collateral Securities:
		FHLMC
	1	4.03%, 02/04/2000				1
	6	4.04%, 01/25/2008				5
	9	6.01%, 04/11/2017				9
						15
		Federal National Mortgage Association Collateral Securities:
		FNMA
	13	3.75%, 07/25/2008				13
	280	5.00%, 10/15/2011 — 02/16/2012				294
	8	5.20%, 09/18/2012				8
	8	5.50%, 01/23/2012				9
						324
		U.S. Treasury Collateral Securities:
		U.S. Treasury Bond
	1	2.38%, 01/15/2025 (O)				1
		U.S. Treasury Note
	3	0.88%, 04/15/2010 (O)				3
	17	1.63%, 01/15/2015 (O)				18
	10	1.88%, 07/15/2013 — 07/15/2015 (O)				12
	101	2.00%, 04/15/2012 (O)				109
	20	2.38%, 01/15/2017 (O)				22
	43	2.50%, 07/15/2016 (O)				46
	14	3.63%, 10/31/2009				14
						225
						14,866
		U.S. Treasury Bills — 0.1%
	25	2.97%, 03/13/2008 (M)(S)				24
		Total short-term investments (cost $15,050)			$	15,050
		Total investments (cost $65,555) (C)	129.0	%	$	66,066
		Other assets and liabilities	(29.0	)%		(14,870	)
		Total net assets	100.0	%	$	51,196

Note:  Percentage of investments as shown is the ratio of the total market value to total net assets.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $65,647 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	4,018
Unrealized Depreciation		(3,599	)
Net Unrealized Appreciation	$	419

(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(M)	The interest rate disclosed for these securities represents the effective yield on the date of acquisition.
(O)	U.S. Treasury inflation-protected securities (TIPS) are securities in which the principal amount is adjusted for inflation and the semiannual interest payments equal a fixed percentage of the inflation-adjusted principal amount.
(S)	Security pledged as initial margin deposit for open futures contracts at December 31, 2007.
	Futures Contracts Outstanding at December 31, 2007

							Unrealized
	Number of				Expiration		Appreciation/
Description	Contracts*		Position		Month		(Depreciation)
S&P Mid 400 Mini Futures		1		Long		Mar 2008	$	1

	* The number of contracts does not omit 000’s.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  134  ­ ­

Hartford MidCap Value HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 98.9%
		Basic Materials — 18.5%
	195	Agrium, Inc.	$	14,067
	285	Arch Coal, Inc. (G)		12,819
	263	Carlisle Cos., Inc.		9,728
	318	Celanese Corp.		13,437
	1,038	Chemtura Corp.		8,096
	94	Cleveland-Cliffs, Inc. (G)		9,505
	147	Cytec Industries, Inc.		9,052
	314	FMC Corp.		17,145
	175	Greif, Inc.		11,420
	11,679	Kingboard Laminates Holdings (A)		7,794
	346	Owens-Illinois, Inc. (D)		17,122
	219	Pactiv Corp. (D)		5,821
	255	Pentair, Inc.		8,870
	285	Rhodia S.A. (A)(D)		10,999
	967	Uranium One, Inc. (D)		8,649
	590	USEC, Inc. (D)(G)		5,310
				169,834
		Capital Goods — 8.7%
	83	AGCO Corp. (D)		5,629
	128	Alliant Techsystems, Inc. (D)(G)		14,573
	83	Goodrich Corp.		5,875
	287	Kennametal, Inc.		10,858
	572	Teradyne, Inc. (D)		5,909
	306	Toro Co. (G)		16,642
	538	Varian Semiconductor Equipment Associates, Inc. (D)		19,922
				79,408
		Consumer Cyclical — 9.0%
	448	American Eagle Outfitters, Inc.		9,305
	52	BorgWarner, Inc.		2,527
	5,788	Buck Holdings L.P. (A)(D)(H)		5,210
	318	Copart, Inc. (D)		13,535
	276	Liz Claiborne, Inc. (G)		5,612
	245	MDC Holdings, Inc.		9,108
	229	Newell Rubbermaid, Inc.		5,914
	419	Office Depot, Inc. (D)		5,821
	398	TRW Automotive Holdings Corp. (D)		8,327
	202	United Stationers, Inc. (D)		9,325
	160	Wabco Holdings, Inc.		8,001
				82,685
		Consumer Staples — 4.9%
	89	Bunge Ltd. Finance Corp. (G)		10,373
	196	Chaoda Modern Agriculture (A)		175
	241	Cosan Ltd. (D)		3,033
	500	Dean Foods Co.		12,930
	167	Lighthouse Caledonia ASA (D)		158
	19,605	Marine Harvest (A)(D)		12,501
	209	Smithfield Foods, Inc. (D)		6,033
				45,203
		Energy — 6.7%
	758	Brasil EcoDiesel Industria (D)(I)		2,933
	413	Brasil EcoDiesel Industria ADR (D)		1,599
	142	Cie Gen Geophysique — SP ADR (D)(G)		7,937
	362	Newfield Exploration Co. (D)		19,072
	198	Noble Energy, Inc.		15,705
	520	UGI Corp.		14,173
				61,419
		Finance — 12.8%
	109	Affiliated Managers Group, Inc. (D)(G)		12,815
	312	AMBAC Financial Group, Inc. (G)		8,030
	288	CIT Group, Inc.		6,911
	100	Everest Re Group Ltd.		10,080
	621	Genesis Lease Ltd.		11,658
	310	Liberty Property Trust		8,934
	301	Platinum Underwriters Holdings Ltd.		10,693
	312	Reinsurance Group of America, Inc. (G)		16,353
	799	Sovereign Bancorp, Inc. (G)		9,107
	589	Thornburg Mortgage Asset Corp. (G)		5,442
	36	UnionBanCal Corp.		1,751
	270	Unum Group		6,416
	276	Webster Financial Corp.		8,817
				117,007
		Health Care — 8.5%
	436	Barr Pharmaceuticals, Inc. (D)		23,136
	203	Cooper Co., Inc. (G)		7,706
	426	Endo Pharmaceuticals Holdings, Inc. (D)		11,372
	1,313	Impax Laboratories, Inc. (D)		14,569
	454	Theravance, Inc. (D)		8,843
	304	West Pharmaceutical Services		12,344
				77,970
		Services — 7.7%
	513	Avis Budget Group, Inc. (D)		6,665
	1,243	BearingPoint, Inc. (D)(G)		3,517
	364	CACI International, Inc. Class A (D)		16,283
	192	Entercom Communications Corp. (G)		2,624
	431	R.H. Donnelley Corp. (D)(G)		15,712
	363	R.R. Donnelley & Sons Co.		13,696
	222	URS Corp. (D)		12,045
				70,542
		Technology — 12.8%
	614	Arrow Electronics, Inc. (D)		24,134
	153	Embarq Corp.		7,598
	848	Fairchild Semiconductor International, Inc. (D)		12,229
	8,056	First Pacific Co. Ltd. (A)		6,216
	1,509	Flextronics International Ltd. (D)		18,195
	874	JDS Uniphase Corp. (D)(G)		11,619
	345	McAfee, Inc. (D)		12,934
	155	NCR Corp. (D)		3,890
	452	Solar Cayman Ltd. (A)(D)(H)		6,227
	388	Virgin Media, Inc.		6,652
	89	Whirlpool Corp.		7,289
				116,983
		Transportation — 3.8%
	639	American Commercial Lines, Inc. (D)(G)		10,384
	782	Northwest Airlines Corp. (D)		11,347
	91	UAL Corp. (D)(G)		3,231
	572	Werner Enterprises, Inc. (G)		9,746
				34,708
		Utilities — 5.5%
	488	Northeast Utilities		15,282
	106	SBM Offshore N.V. (A)		3,331

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

­ ­  135  ­ ­

Hartford MidCap Value HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

					Market
Shares					Value (W)
COMMON STOCK — (continued)
		Utilities — (continued)
	836	Sierra Pacific Resources			$	14,189
	366	Wisconsin Energy Corp.				17,813
						50,615
		Total common stock (cost $838,366)			$	906,374
PREFERRED STOCK — 0.2%
		Finance — 0.2%
	65	Thornburg Mortgage, Inc. (X)			$	1,560
		Total preferred stock (cost $1,693)			$	1,560
		Total long-term investments (cost $840,059)			$	907,934
Principal
Amount
SHORT-TERM INVESTMENTS — 14.7%
		Repurchase Agreements — 0.9%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,966, collateralized by FNMA 5.00%, 2035, value of $2,005)
$	1,966	4.50% dated 12/31/2007			$	1,966
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $18, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $18)
	18	1.35% dated 12/31/2007				18
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $5,472, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $5,580)
	5,470	4.75% dated 12/31/2007				5,470
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $772, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $787)
	771	4.60% dated 12/31/2007				771
						8,225
Shares
		Securities Purchased with Proceeds from Security Lending — 13.8%
		Cash Collateral Reinvestment Fund:
	126,373	Goldman Sachs FS Prime Obligation/Institutional Fund				126,373
		Total short-term investments (cost $134,598)			$	134,598
		Total investments (cost $974,657) (C)	113.8	%	$	1,042,532
		Other assets and liabilities	(13.8	)%		(126,600	)
		Total net assets	100.0	%	$	915,932

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 9.09% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $976,123 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	155,443
Unrealized Depreciation		(89,034	)
Net Unrealized Appreciation	$	66,409

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $52,453, which represents 5.73% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $2,933, which represents 0.32% of total net assets.
(X)	Convertible security.
(H)	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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		5,788	Buck Holdings L.P.	$	5,794
03/2007		452	Solar Cayman Ltd.		6,779

The aggregate value of these securities at December 31, 2007 was $11,437 which represents 1.25% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Euro (Buy)	$	29	$	29		01/02/08	$	—
Hong Kong Dollar (Buy)		86		86		01/02/08		—
Hong Kong Dollar (Buy)		127		127		01/03/08		—
							$	—

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  136  ­ ­

Hartford Money Market HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

Principal			Market
Amount			Value (W)
		Capital Goods — 1.9%
		Caterpillar, Inc.
$	52,000	4.20%, 01/10/2008	$	51,947
		Consumer Cyclical — 2.6%
		Eksportfinians
	27,500	4.31%, 01/14/2008 (I)		27,457
	42,700	4.71%, 04/03/2008 (I)		42,187
				69,644
		Consumer Staples — 4.7%
		KFW International Holdings
	26,250	4.28%, 01/15/2008 (I)		26,206
	27,700	4.31%, 01/17/2008 (I)		27,649
	31,600	4.41%, 02/05/2008 (I)		31,465
		Unilever Capital Corp.
	18,000	4.23%, 01/11/2008 (I)		17,979
	22,000	5.22%, 08/11/2008 (I)(L)		22,000
				125,299
		Energy — 3.0%
		ConocoPhillips Qatar Funding
	12,000	4.55%, 01/08/2008 (I)		11,989
	22,000	4.58%, 02/21/2008 (I)		21,858
	16,900	4.66%, 01/08/2008 (I)(L)		16,885
	7,500	4.82%, 01/23/2008 (I)		7,478
	20,600	4.98%, 01/23/2008 (I)		20,538
				78,748
		Finance — 83.3%
		American Express Credit Corp.
	9,102	3.50%, 01/02/2008		9,101
	34,050	4.33%, 01/16/2008		33,989
		American General Finance Corp.
	27,000	5.03%, 01/04/2008		26,989
	13,200	5.33%, 01/18/2008 (L)		13,201
		American Honda Finance Corp.
	13,500	4.26%, 01/15/2008		13,478
	26,300	4.85%, 05/12/2008 (I)(L)		26,300
	9,500	4.87%, 08/06/2008 (I)(L)		9,494
	21,300	5.17%, 09/18/2008 (I)(L)		21,300
		Australia & New Zealand Banking GR
	30,000	4.82%, 03/20/2008 (I)		29,689
	31,750	5.00%, 01/11/2008 (I)		31,706
	15,000	5.16%, 01/07/2008		14,987
		Bank of America Corp.
	57,200	4.65%, 02/28/2008 — 04/11/2008		56,632
	18,750	5.04%, 01/22/2008		18,695
		Bank of Scotland
	15,000	4.76%, 01/22/2008		14,958
	9,250	5.02%, 01/24/2008		9,220
	22,000	5.05%, 01/23/2008		21,933
		Bear Stearns & Co., Inc.
	19,000	5.02%, 01/28/2008		18,929
	22,000	5.09%, 08/14/2008 (L)		22,000
		Citibank NA
	12,750	5.11%, 03/07/2008		12,750
	27,350	5.14%, 03/04/2008		27,350
		Citigroup Funding, Inc.
	27,300	4.98%, 05/01/2008		26,850
		Danske Bank Corp.
	22,000	4.92%, 08/19/2008 (I)(L)		22,000
	21,500	4.94%, 03/10/2008		21,299
		Danske Bank Corp.
	31,000	5.37%, 02/11/2008		30,811
		Federal Home Loan Bank
	81,900	4.24%, 01/04/2008 — 01/11/2008		81,849
	54,000	4.27%, 01/11/2008		53,936
	28,250	4.31%, 01/30/2008		28,152
		Federal Home Loan Mortgage Corp.
	45,790	4.24%, 01/02/2008		45,785
	61,000	4.28%, 01/10/2008		60,940
		Federal National Mortgage Association
	34,000	4.20%, 01/09/2008		33,968
	25,800	4.26%, 01/22/2008		25,736
	25,014	4.27%, 02/01/2008		24,922
	20,289	4.30%, 02/22/2008		20,164
		General Electric Capital Corp.
	6,500	4.70%, 01/28/2008		6,477
	27,000	4.79%, 01/24/2008		26,918
	19,400	4.92%, 08/22/2008 (L)		19,400
	29,200	4.95%, 05/19/2008 (L)		29,204
		Goldman Sachs Group, Inc.
	26,250	4.83%, 01/14/2008		26,204
	39,500	4.84%, 01/18/2008		39,410
		HBOS Treasury Services plc
	26,440	5.23%, 09/08/2008 (I)(L)		26,438
		HSBC Finance Corp.
	18,000	4.72%, 02/04/2008		17,920
	22,500	5.26%, 09/06/2008 (L)		22,500
		JP Morgan Chase & Co.
	42,500	5.15%, 01/25/2008 (L)		42,501
	26,200	5.21%, 09/02/2008 (L)		26,200
		Lehman Brothers Holdings, Inc.
	45,250	4.25%, 01/02/2008		45,245
	22,000	5.00%, 10/27/2008 (L)		22,000
		Merrill Lynch & Co., Inc.
	29,000	4.61%, 06/26/2008 (L)		29,007
	22,000	5.04%, 08/22/2008 (L)		22,000
	15,500	5.11%, 01/31/2008		15,434
		Morgan Stanley Dean Witter, Inc.
	26,900	4.57%, 03/24/2008 (L)		26,900
	21,000	5.10%, 05/19/2008		20,595
	19,700	5.55%, 01/30/2008		19,612
		Nordea Bank Ab
	21,700	5.23%, 09/08/2008 (I)(L)		21,700
		Nordea North America
	18,000	4.76%, 02/14/2008		17,896
	28,600	5.05%, 02/04/2008		28,464
		Royal Bank of Scotland Group plc
	37,500	4.92%, 04/14/2008 (I)		36,979
	32,750	5.09%, 03/13/2008 (I)		32,420
		Skandinav Enskilda Bank
	36,650	5.00%, 01/23/2008 (I)		36,538
		Skandinaviska Enskilda Bank NY
	21,500	4.74%, 02/01/2008 (I)		21,414
	21,600	5.24%, 09/08/2008 (I)(L)		21,600
		State Street Corp.
	21,500	4.80%, 01/22/2008		21,500
	42,500	4.89%, 03/17/2008		42,500
		Svenska Handelsbanken Ab
	25,750	4.75%, 02/07/2008		25,750
	34,140	5.16%, 01/07/2008		34,112
	22,000	5.17%, 11/12/2008 (I)(L)		22,000

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

­ ­  137  ­ ­

Hartford Money Market HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal					Market
Amount					Value (W)
		Finance — (continued)
		Swedbank
$	32,500	4.75%, 04/08/2008			$	32,086
	33,500	4.78%, 02/28/2008				33,244
	10,500	5.24%, 01/10/2008				10,486
		Toyota Motor Credit Corp.
	53,000	4.05%, 07/17/2008 (L)				53,000
	31,000	4.55%, 02/08/2008				30,852
	21,000	4.69%, 01/25/2008				20,934
		UBS Finance LLC
	24,053	4.23%, 01/02/2008				24,050
	30,000	4.85%, 02/26/2008				29,775
	21,500	4.94%, 03/19/2008				21,272
	24,500	4.98%, 04/07/2008				24,176
		Wachovia Bank NA
	18,000	4.98%, 03/31/2008				18,000
	46,700	5.24%, 02/04/2008				46,700
		Wells Fargo & Co.
	22,000	4.91%, 08/15/2008 (L)				22,000
	29,525	5.29%, 03/10/2008 (L)				29,529
		Westpac Banking Corp.
	25,750	4.67%, 02/05/2008				25,634
	30,000	4.70%, 01/30/2008				29,888
	21,600	5.02%, 09/15/2008 (I)(L)				21,600
						2,229,177
		Services — 2.4%
		Walt Disney Co.
	18,000	4.54%, 02/01/2008				17,930
	12,750	4.73%, 01/07/2008				12,740
	34,250	4.86%, 01/23/2008				34,149
						64,819
		Technology — 2.4%
		John Deere Capital Corp.
	31,750	4.51%, 01/30/2008				31,635
	32,750	4.74%, 02/01/2008				32,617
						64,252
		Total investments (cost $2,683,886) (C)	100.3	%	$	2,683,886
		Other assets and liabilities	(0.3	)%		(6,786	)
		Total net assets	100.0	%	$	2,677,100

Note:  Percentage of investments as shown is the ratio of the total market value to total net assets. The rates presented in this Schedule of Investments are yields, unless otherwise noted. Market value of investments in foreign securities represents 25.71% of total net assets at December 31, 2007.

(C)	Also represents cost for tax purposes.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $654,869, which represents 24.46% of total net assets.
(L)	Variable rate securities; the yield reported is the rate in effect at December 31, 2007.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Australia		4.6	%
Denmark		4.0
Norway		2.6
Sweden		4.2
Switzerland		5.0
United Kingdom		5.3
United States		74.6
Other Assets and Liabilities		(0.3	)
Total		100.0	%

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

­ ­  138  ­ ­

Hartford Mortgage Securities HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

Principal			Market
Amount			Value (W)
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 34.2%
		Finance — 34.2%
		Ameriquest Mortgage Securities, Inc.
$	1,906	5.86%, 09/25/2032 (L)#	$	1,752
		Ansonia CDO Ltd.
	3,800	5.15%, 07/28/2046 (H)(L)		1,900
		Arbor Realty Mortgage Securities
	5,000	5.46%, 01/26/2042 (H)(L)		4,305
		Banc of America Commercial Mortgage, Inc.
	37,100	4.83%, 07/11/2043 (H)(P)		1,244
		Banc of America Large Loan
	3,000	5.27%, 10/15/2019 (I)(L)		2,930
		Bayview Commercial Asset Trust
	31,608	7.00%, 07/25/2037 (H)		4,089
	34,790	7.50%, 09/25/2037 (H)		5,077
		Bayview Financial Acquisition Trust
	1,100	6.50%, 05/28/2037 (H)(L)		770
	700	7.85%, 05/28/2037 (H)(L)		315
		Bear Stearns Asset Backed Securities, Inc.
	1,994	5.96%, 05/25/2037 (H)(L)		658
		Bear Stearns Commercial Mortgage Securities, Inc.
	30,406	4.85%, 08/15/2038 (H)		1,536
		Carrington Mortgage Loan Trust
	1,668	6.51%, 02/25/2037 (H)(L)		340
		CBA Commercial Small Balance Commercial Mortgage
	920	6.09%, 07/25/2039 (H)(L)		616
	970	6.50%, 07/25/2039 (H)(L)		504
	23,770	7.25%, 07/25/2039 (H)		2,283
		Citigroup Commercial Mortgage Trust
	2,500	5.27%, 08/15/2021 (H)(L)		2,442
	5,000	5.89%, 12/10/2049 (L)		5,141
		Citigroup Mortgage Loan Trust, Inc.
	9,467	5.93%, 07/25/2037 (L)		9,499
		Citigroup/Deutsche Bank Commercial Mortgage Trust
	7,000	5.65%, 10/15/2048		6,976
		Commercial Mortgage Pass-Through Certificate
	4,343	5.31%, 12/15/2020 (H)(L)		4,191
		Countrywide Alternative Loan Trust
	3,408	5.11%, 10/25/2035 (L)		3,350
		Countrywide Asset-Backed Certificates
	8,500	5.57%, 11/25/2035		7,991
		Countrywide Home Loan Mortgage Pass-Through Trust
	4,280	5.00%, 01/25/2019		4,265
		Credit Suisse Mortgage Capital Certificates
	1,089	5.83%, 09/15/2021 (I)(L)		1,054
		CS First Boston Mortgage Securities Corp.
	45,310	4.01%, 03/15/2035 (H)		1,228
		Deutsche Alt-A Securities, Inc.
	6,596	5.57%, 02/25/2036 (L)		6,635
		DLJ Mortgage Acceptance Corp. Class B1
	35	7.25%, 09/18/2011 (I)		35
		DLJ Mortgage Acceptance Corp. Class B2
	12	7.25%, 09/18/2011 (I)		12
		First Franklin Mortgage Loan Asset Backed Certificates
	825	7.34%, 07/25/2033 (H)(L)		517
		Green Tree Financial Corp.
	197	7.30%, 01/15/2026		200
		Greenwich Capital Commercial Funding Corp.
	4,000	5.48%, 11/05/2021 (I)(L)		3,844
		Hasco NIM Trust
	71	6.17%, 08/26/2036 (H)		61
		Indymac Index Mortgage Loan Trust
	8,751	5.11%, 06/25/2037 (L)		8,518
		LB-UBS Commercial Mortgage Trust
	30,666	4.25%, 12/15/2036 (H)		832
		Lehman XS Trust
	4,923	6.50%, 05/25/2037 (L)#		5,034
		LNR CDO Ltd.
	2,800	5.20%, 05/28/2043 (H)(L)		2,002
		Mach One Trust Commercial Mortgage-Backed
	29,113	6.09%, 05/28/2040 (H)		1,040
		Master Asset Backed Securities Trust
	663	5.61%, 05/25/2033 (L)		663
	2,000	6.67%, 05/25/2033 (L)#		1,904
		Master Asset Securitization Trust
	3,634	5.00%, 12/25/2018 #		3,621
		Merrill Lynch Floating Trust
	4,250	5.23%, 06/15/2022 (I)(L)#		4,118
		Merrill Lynch Mortgage Investors, Inc.
	1,303	6.51%, 05/25/2032 (L)		1,296
		Merrill Lynch Mortgage Trust
	5,000	5.24%, 11/12/2035 #		5,066
		Merrill Lynch/Countrywide Commercial Mortgage Trust
	10,000	5.20%, 12/12/2049 #		9,655
		Morgan Stanley ABS Capital I
	3,956	6.37%, 11/25/2032 (L)#		3,626
		Morgan Stanley Capital
	5,500	5.13%, 10/15/2020 (I)(L)		5,253
		Morgan Stanley Capital I
	4,900	5.70%, 04/15/2049 (L)		4,994
		Renaissance Home Equity Loan Trust
	3,330	7.00%, 09/25/2037 (H)		2,331
	1,700	7.50%, 04/25/2037 — 06/25/2037 (H)		775
		Residential Asset Mortgage Products, Inc.
	2,595	5.70%, 10/25/2031		2,546
		Spirit Master Funding LLC
	5,809	5.76%, 03/20/2024 (I)		5,589
		Structured Asset Securities Corp.
	4,629	5.87%, 02/25/2033 (L)		4,392
	2,000	7.36%, 02/25/2037 (H)(L)		440
		Total asset & commercial mortgage backed securities (cost $172,008)	$	159,455
CORPORATE BONDS: INVESTMENT GRADE — 0.2%
		Finance — 0.2%
		North Street Referenced Linked Notes
$	1,500	6.03%, 07/30/2010 (H)(L)	$	1,170
		Total corporate bonds: investment grade (cost $1,337)	$	1,170

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

­ ­  139  ­ ­

Hartford Mortgage Securities HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal					Market
Amount					Value (W)
U.S. GOVERNMENT AGENCIES — 77.2%
		Federal Home Loan Mortgage Corporation — 23.3%
		Mortgage Backed Securities:
$	1,493	4.50%, 2018			$	1,468
	3,064	4.93%, 2035 (L)				3,062
	25,680	5.50%, 2034 #				25,661
	24,000	5.50%, 2023 (Q)				24,285
	9,809	5.94%, 2037 (L)				9,972
	1,209	6.00%, 2022 — 2034				1,234
	20,500	6.00%, 2038 (Q)				20,801
	1,698	6.50%, 2014 — 2017				1,760
	1,370	7.00%, 2026 — 2032				1,435
	692	7.00%, 2032 #				727
	35	7.50%, 2024 — 2025				37
	108	8.00%, 2013 — 2024				115
	37	8.50%, 2009 — 2024				38
	2	9.50%, 2008				2
	64	10.00%, 2020				73
						90,670
		Remic — Pac’s:
	6,895	5.00%, 2034				6,658
		Remic — Z Bonds:
	12,860	5.50%, 2033 (R)				11,533
						108,861
		Federal National Mortgage Association — 30.2%
		Mortgage Backed Securities:
	5,619	4.75%, 2035 (L)				5,611
	21,390	5.00%, 2018 — 2035				21,030
	14,411	5.34%, 2037 (L)				14,584
	8,406	5.50%, 2033				8,412
	7,954	5.53%, 2037 (L)				8,016
	8,485	5.94%, 2037 (L)				8,599
	21,353	6.00%, 2023 — 2035				21,770
	3,743	6.00%, 2037 (L)				3,841
	24,041	6.50%, 2028 — 2037				24,822
	3,600	6.50%, 2038 (Q)				3,700
	3,464	7.00%, 2011 — 2032				3,620
	274	8.00%, 2029 — 2031				294
	72	9.00%, 2021				78
						124,377
		Remic — IO & IO-Ette:
	18,347	10.00%, 2037 (P)				4,479
		Remic — Pac’s:
	10,371	5.50%, 2035				10,320
	1,700	6.50%, 2031				1,781
						12,101
		Zero Coupon:
	6	11.00%, 2009 (M)				6
						140,963
		Government National Mortgage Association — 10.6%
		Mortgage Backed Securities:
	5,099	6.00%, 2033 #				5,230
	35,600	6.00%, 2038 (Q)				36,323
	4,753	6.50%, 2028 — 2032 #				4,930
	2,088	7.00%, 2032 #				2,213
	629	7.50%, 2022 — 2030 #				671
	124	8.50%, 2017 — 2030 #				135
	63	9.50%, 2009 #				66
						49,568
		Other Government Agencies — 13.1%
		Small Business Administration Participation Certificates:
	3,428	5.12%, 2026				3,451
	2,327	5.23%, 2027				2,334
	4,972	5.31%, 2027				5,019
	8,324	5.32%, 2027				8,440
	5,211	5.36%, 2026				5,283
	3,892	5.37%, 2026				3,963
	4,857	5.56%, 2027				4,980
	10,000	5.57%, 2027				10,243
	4,461	5.71%, 2027				4,607
	3,941	5.82%, 2027				4,091
	8,201	6.30%, 2019				8,484
						60,895
		Total U.S. government agencies (cost $357,949)			$	360,287
		Total long-term investments (cost $531,294)			$	520,912
SHORT-TERM INVESTMENTS — 6.0%
		Finance — 4.3%
		Federal Home Loan Bank
$	20,000	4.33%, 01/02/2008			$	19,996
		Repurchase Agreements — 1.6%
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2008 in the amount of $3,903, collateralized by U.S. Treasury Note 3.63%, 2012, value of $3,997)
	3,903	1.30% dated 12/31/2007				3,903
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2008 in the amount of $3,806, collateralized by U.S. Treasury Note 3.38% — 12.50%, 2009 — 2014, value of $3,889)
	3,806	1.25% dated 12/31/2007				3,806
						7,709
		U.S. Treasury Bills — 0.1%
	475	2.85%, 03/13/2008 (M)(S)				472
		Total short-term investments (cost $28,177)			$	28,177
		Total investments (cost $559,471) (C)	117.6	%	$	549,089
		Other assets and liabilities	(17.6	)%		(82,314	)
		Total net assets	100.0	%	$	466,775

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

­ ­  140  ­ ­

Note:  Percentage of investments as shown is the ratio of the total market value to total net assets.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $559,838 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	4,615
Unrealized Depreciation		(15,364	)
Net Unrealized Depreciation	$	(10,749	)

#	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $22,835, which represents 4.89% of total net assets.
(L)	Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2007.
(M)	The interest rate disclosed for these securities represents the effective yield on the date of acquisition.
(P)	The interest rates disclosed for interest only strips represent effective yields based upon estimated future cash flows at December 31, 2007.
(Q)	The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2007 was $84,993.
(R)	Z-Tranche securities pay no principal or interest during their initial accrual period, but accrue additional principal at a specified coupon rate.
(H)	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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
10/2006		3,800	Ansonia CDO Ltd., 5.15%, 07/28/2046 - 144A	$	3,800
11/2006		5,000	Arbor Realty Mortgage Securities, 5.46%, 01/26/2042 - 144A		5,000
02/2003		37,100	Banc of America Commercial Mortgage, Inc., 4.83%, 07/11/2043 - 144A		1,231
05/2007		31,608	Bayview Commercial Asset Trust, 7.00%, 07/25/2037 - 144A		4,509
08/2007		34,790	Bayview Commercial Asset Trust, 7.50%, 09/25/2037 - 144A		4,798
04/2007		1,100	Bayview Financial Acquisition Trust, 6.50%, 05/28/2037		1,100
04/2007		700	Bayview Financial Acquisition Trust, 7.85%, 05/28/2037		676
04/2007		1,994	Bear Stearns Asset Backed Securities, Inc., 5.96%, 05/25/2037		1,994
02/2003		30,406	Bear Stearns Commercial Mortgage Securities, Inc., 4.85%, 08/15/2038 - 144A		1,538
03/2007		1,668	Carrington Mortgage Loan Trust, 6.51%, 02/25/2037		1,668
05/2007		920	CBA Commercial Small Balance Commercial Mortgage, 6.09%, 07/25/2039 - 144A		920
05/2007		970	CBA Commercial Small Balance Commercial Mortgage, 6.50%, 07/25/2039 - 144A		970
05/2007		23,770	CBA Commercial Small Balance Commercial Mortgage, 7.25%, 07/25/2039 - 144A		2,158
10/2006		2,500	Citigroup Commercial Mortgage Trust, 5.27%, 08/15/2021 - 144A		2,500
10/2006		4,343	Commercial Mortgage Pass-Through Certificate, 5.31%, 12/15/2020 - 144A		4,343
02/2003		45,310	CS First Boston Mortgage Securities Corp., 4.01%, 03/15/2035 - 144A		1,289
06/2003		825	First Franklin Mortgage Loan Asset Backed Certificates, 7.34%, 07/25/2033		825
09/2006		71	Hasco NIM Trust, 6.17%, 08/26/2036 - 144A		71
03/2003		30,666	LB-UBS Commercial Mortgage Trust, 4.25%, 12/15/2036 - 144A		771
11/2006		2,800	LNR CDO Ltd., 5.20%, 05/28/2043 - 144A		2,806
07/2004		29,113	Mach One Trust Commercial Mortgage-Backed, 6.09%, 05/28/2040 - 144A		966
11/2006		1,500	North Street Referenced Linked Notes, 6.03%, 07/30/2010 - 144A		1,337
08/2007		3,330	Renaissance Home Equity Loan Trust, 7.00%, 09/25/2037		2,665
05/2007		1,700	Renaissance Home Equity Loan Trust, 7.50%, 04/25/2037 – 06/25/2037		1,536
03/2007		2,000	Structured Asset Securities Corp., 7.36%, 02/25/2037		1,859

	The aggregate value of these securities at December 31, 2007 was $40,666 which represents 8.71% of total net assets.
(S)	Security pledged as initial margin deposit for open futures contracts at December 31, 2007.
	Futures Contracts Outstanding at December 31, 2007

							Unrealized
	Number of				Expiration		Appreciation/
Description	Contracts*		Position		Month		(Depreciation)
2 Year U.S. Treasury Note		1,658		Long		Mar 2008	$	569
5 Year U.S. Treasury Note		243		Long		Apr 2008		81
10 Year U.S. Treasury Note		955		Short		Mar 2008		(449	)
U.S. Long Bond		116		Short		Mar 2008		123
							$	324

	* The number of contracts does not omit 000’s.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  141  ­ ­

Hartford Small Company HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 101.7%
		Basic Materials — 12.2%
	175	Agrium, Inc.	$	12,671
	94	Alpha Natural Resources, Inc. (D)		3,053
	102	American Vanguard		1,772
	303	Arch Coal, Inc. (G)		13,612
	56	Barnes Group, Inc.		1,863
	41	Cabot Microelectronics Corp. (D)		1,481
	45	Century Aluminum Co. (D)		2,437
	47	Ceradyne, Inc. (D)		2,189
	32	CF Industries Holdings, Inc.		3,467
	188	Church & Dwight Co., Inc.		10,172
	97	Cleveland-Cliffs, Inc. (G)		9,777
	71	Drew Industries (D)		1,938
	27	Dynamic Materials Corp.		1,590
	130	FMC Corp.		7,115
	215	Foundation Coal Holdings, Inc.		11,304
	61	Grace (W.R.) & Co. (D)(G)		1,603
	171	Greif, Inc.		11,188
	477	Hercules, Inc.		9,231
	2,008	Kingboard Chemical Holdings Ltd. (A)		11,861
	218	Lupatech S.A.		7,342
	325	Owens-Illinois, Inc. (D)		16,088
	1,000	Rexam plc (A)		8,324
	166	Select Comfort Corp. (D)(G)		1,164
	187	Steel Dynamics, Inc.		11,121
	269	Sturm Ruger & Co., Inc. (D)(G)		2,231
	112	Tempur-Pedic International, Inc. (G)		2,911
	362	Terra Industries, Inc. (D)(G)		17,259
	191	Timminco LTD. (D)		4,258
	54	Titan International, Inc. (G)		1,681
	109	Tupperware Brands Corp.		3,602
	19	Valmont Industries, Inc.		1,684
				195,989
		Capital Goods — 6.2%
	336	Asyst Technologies, Inc. (D)		1,097
	69	Bally Technologies, Inc. (D)		3,448
	31	Blue Nile, Inc. (D)(G)		2,103
	22	Bucyrus International, Inc.		2,196
	60	Cymer, Inc. (D)		2,328
	33	Dril-Quip, Inc. (D)		1,839
	63	Flotek Inds, Inc. (D)(G)		2,256
	263	Flowserve Corp.		25,284
	73	Goodman Global, Inc. (D)		1,794
	103	Hexcel Corp. (D)		2,498
	241	Kennametal, Inc.		9,105
	200	Kulicke and Soffa Industries, Inc. (D)(G)		1,373
	37	Lufkin Industries, Inc.		2,128
	372	Marvel Entertainment, Inc. (D)(G)		9,942
	122	MKS Instruments, Inc. (D)		2,331
	50	NATCO Group, Inc. (D)		2,716
	164	Rudolph Technologies, Inc. (D)		1,856
	126	Scientific Games Corp. Class A (D)		4,201
	57	Tessera Technologies, Inc. (D)		2,383
	361	TransDigm Group, Inc. (D)		16,294
	26	Woodward Governor Co.		1,750
				98,922
		Consumer Cyclical — 10.3%
	136	Aeropostale, Inc. (D)		3,600
	325	BJ’s Wholesale Club, Inc. (D)		10,998
	111	Bon-Ton Stores, Inc. (G)		1,055
	66	CBRL Group, Inc.		2,151
	37	Chemed Corp.		2,053
	21	Chipotle Mexican Grill, Inc. (D)		2,580
	90	Conns, Inc. (D)(G)		1,533
	31	Deckers Outdoor Corp. (D)		4,807
	404	Dick’s Sporting Goods, Inc. (D)		11,223
	96	Dollar Tree Stores, Inc. (D)		2,492
	150	Dufry Group		16,718
	155	GameStop Corp. Class A (D)		9,618
	43	Granite Construction, Inc.		1,538
	94	Green Mountain Coffee Roasters (D)(G)		3,843
	80	Herman Miller, Inc.		2,576
	69	Integrated Electrical Services, Inc. (D)		1,304
	77	J. Crew Group, Inc. (D)(G)		3,691
	72	Jack in the Box, Inc. (D)		1,862
	138	Jos. A. Bank Clothiers, Inc. (D)(G)		3,939
	91	K-Swiss, Inc.		1,651
	31	Layne Christensen Co. (D)		1,536
	72	Lear Corp. (D)		1,994
	912	LKQ Corp. (D)(G)		19,182
	72	Men’s Wearhouse, Inc.		1,948
	47	Michael Baker Corp. (D)		1,943
	135	Pacific Sunwear of California, Inc. (D)		1,903
	66	Perini Corp. (D)		2,746
	90	PSS World Medical, Inc. (D)		1,758
	39	Sigma Designs, Inc. (D)(G)		2,155
	147	Sotheby’s (G)		5,618
	42	Synaptics, Inc. (D)		1,742
	61	Tween Brands, Inc. (D)		1,621
	131	UbiSoft Entertainment S.A. (A)(D)		13,348
	53	Under Armour, Inc. Class A (D)(G)		2,325
	174	VistaPrint Ltd. (D)(G)		7,436
	127	Walter Industries		4,545
	69	Warnaco Group, Inc. (D)		2,415
	64	World Fuel Services Corp.		1,864
				165,311
		Consumer Staples — 0.8%
	53	Boston Beer Co., Inc. Class A (D)		2,004
	63	Cal-Maine Foods Inc. (G)		1,678
	45	Chattem, Inc. (D)		3,368
	69	Flowers Foods, Inc.		1,621
	42	M & F Worldwide Corp. (D)		2,281
	106	Vector Group Ltd. (G)		2,120
				13,072
		Energy — 6.8%
	176	Aegean Marine Petroleum Network		6,757
	50	Alon USA Energy, Inc.		1,355
	70	Arena Resources, Inc. (D)		2,916
	44	ATP Oil & Gas Corp. (D)(G)		2,229
	38	Atwood Oceanics, Inc. (D)		3,797
	102	Basic Energy Services, Inc. (D)(G)		2,243
	343	Cabot Oil & Gas Corp.		13,853
	145	Cal Dive International, Inc. (D)(G)		1,919
	514	Complete Production Services, Inc. (D)(G)		9,242
	29	Dawson Geophysical Co. (D)		2,041
	105	Delek U.S. Holdings, Inc.		2,126
	691	Denbury Resources, Inc. (D)		20,564
	254	Forest Oil Corp. (D)		12,926

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

­ ­  142  ­ ­

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Energy — (continued)
	659	Grey Wolf, Inc. (D)	$	3,514
	160	Hercules Offshore, Inc. (D)(G)		3,810
	421	Lundin Petroleum Ab (A)(D)(G)		4,379
	64	Mariner Energy, Inc. (D)		1,462
	121	Petrohawk Energy Corp. (D)		2,100
	118	PetroQuest Energy, Inc. (D)		1,691
	488	Warren Resources, Inc. (D)		6,901
	34	WD40 Co.		1,302
	46	W-H Energy Services (D)		2,608
				109,735
		Finance — 10.7%
	1,793	Aberdeen Asset Management plc (A)		5,915
	600	Aercap Holdings N.V. (D)		12,520
	439	Aircastle Ltd.		11,570
	17	Alexandria Real Estate Equities, Inc.		1,749
	368	Allied World Assurance Holdings Ltd.		18,463
	6,532	Babcock and Brown Wind Partners (A)		9,686
	150	Centene Corp. (D)		4,119
	601	Covanta Holding Corp. (D)		16,615
	40	Digital Realty Trust, Inc.		1,535
	79	Evercore Partners, Inc.		1,708
	42	First Industrial Realty Trust, Inc. (G)		1,436
	31	GFI Group, Inc. (D)		2,954
	521	GLG Partners, Inc. (D)(G)		7,084
	65	Greenhill & Co., Inc. (G)		4,317
	28	IHOP Corp. (G)		1,035
	115	Interactive Brokers Group (D)		3,706
	147	Knight Capital Group, Inc. (D)		2,120
	907	Liberty Acquisition Holdings Corp. (D)(G)		9,890
	416	MF Global Ltd. (D)		13,080
	60	Morningstar, Inc. (D)		4,682
	103	Nationwide Health Properties, Inc. (G)		3,230
	86	optionsXpress Holdings, Inc.		2,925
	42	Post Properties, Inc.		1,491
	328	ProAssurance Corp. (D)(G)		17,988
	47	Signature Bank (D)		1,596
	45	SVB Financial Group (D)		2,262
	124	Universal American Financial Corp. (D)		3,175
	110	Waddell and Reed Financial, Inc. Class A		3,977
				170,828
		Health Care — 13.3%
	107	Accuray, Inc. (D)		1,627
	88	Acorda Therapeutics, Inc. (D)		1,926
	62	Adams Respiratory Therapeutics, Inc. (D)		3,723
	30	Alexion Pharmaceuticals, Inc. (D)		2,240
	118	Align Technology, Inc. (D)(G)		1,972
	504	Alkermes, Inc. (D)		7,870
	153	Alliance Imaging, Inc. (D)		1,475
	45	Alnylam Pharmaceuticals, Inc. (D)(G)		1,316
	278	American Oriental Bioengineering, Inc. (D)(G)		3,077
	169	Amylin Pharmaceuticals, Inc. (D)(G)		6,260
	130	Apria Healthcare Group, Inc. (D)		2,795
	425	Arena Pharmaceuticals, Inc. (D)(G)		3,326
	49	ArthroCare Corp. (D)(G)		2,350
	135	Biomarin Pharmaceutical, Inc. (D)		4,772
	109	Bradley Pharmaceuticals, Inc. (D)		2,153
	407	Charles River Laboratories International, Inc. (D)		26,806
	154	Cubist Pharmaceuticals, Inc. (D)		3,164
	254	Dendreon Corp. (D)(G)		1,581
	409	HealthSouth Corp. (D)(G)		8,588
	50	Healthways, Inc. (D)(G)		2,914
	723	Human Genome Sciences, Inc. (D)(G)		7,549
	33	Illumina, Inc. (D)		1,973
	62	Immucor, Inc. (D)		2,111
	64	Integra LifeSciences Holdings Corp. (D)(G)		2,702
	36	Kendle International, Inc. (D)		1,767
	91	KV Pharmaceutical Co. (D)(G)		2,591
	27	Landauer, Inc.		1,399
	120	LCA-Vision, Inc. (G)		2,394
	47	Lifecell Corp. (D)		2,047
	33	Magellan Health Services, Inc. (D)		1,550
	90	Matria Healthcare, Inc. (D)(G)		2,141
	387	Medicines Co. (D)		7,416
	123	Medicis Pharmaceutical Corp. Class A (G)		3,185
	45	Meridian Bioscience, Inc.		1,362
	91	MGI PHARMA, Inc. (D)		3,696
	339	Millennium Pharmaceuticals, Inc. (D)		5,074
	191	Mindray Medical International Ltd. (G)		8,208
	64	Myriad Genetics, Inc. (D)		2,989
	32	Onyx Pharmaceuticals, Inc. (D)		1,763
	52	OSI Pharmaceuticals, Inc. (D)		2,503
	140	Par Pharmaceutical Cos., Inc. (D)		3,363
	39	PAREXEL International Corp. (D)		1,890
	67	Perrigo Co.		2,342
	400	Pharmaceutical Product Development, Inc.		16,143
	38	PharmaNet Development Group, Inc. (D)		1,484
	43	Pharmion Corp. (D)(G)		2,686
	107	Quidel Corp. (D)		2,090
	139	Savient Pharmaceuticals, Inc. (D)(G)		3,182
	139	Sciele Pharma, Inc. (D)(G)		2,852
	92	STERIS Corp.		2,647
	47	United Therapeutics Corp. (D)(G)		4,593
	40	Usana Health Sciences, Inc. (D)(G)		1,489
	151	Valeant Pharmaceuticals International (D)		1,808
	35	Ventana Medical Systems, Inc. (D)		3,088
	362	ViroPharma, Inc. (D)		2,873
	379	Volcano Corp. (D)		4,735
	36	XenoPort, Inc. (D)		1,994
				213,614
		Services — 12.0%
	57	Administaff, Inc.		1,623
	85	Allscripts Healthcare Solutions, Inc. (D)(G)		1,643
	31	Anixter International, Inc. (D)(G)		1,922
	88	Atheros Communications, Inc. (D)		2,683
	55	Bankrate, Inc. (D)(G)		2,666
	34	CACI International, Inc. Class A (D)		1,522
	23	Capella Education Co. (D)		1,520
	48	DeVry, Inc.		2,483
	171	Digital River, Inc. (D)		5,672
	265	Dolan Media Co. (D)		7,724
	189	Factset Research Systems, Inc.		10,518
	468	Focus Media Holding Ltd. ADR (D)(G)		26,576
	521	Foundry Networks, Inc. (D)		9,123
	316	FTI Consulting, Inc. (D)		19,496
	166	Healthspring, Inc. (D)		3,160
	469	Iron Mountain, Inc. (D)		17,372
	96	Jack Henry & Associates, Inc.		2,342
	51	JDA Software Group, Inc. (D)		1,039

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

­ ­  143  ­ ­

Hartford Small Company HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Services — (continued)
	45	Life Time Fitness, Inc. (D)(G)	$	2,255
	655	Live Nation, Inc. (D)		9,516
	85	Macrovision Corp. (D)(G)		1,554
	74	MAXIMUS, Inc.		2,849
	135	Micros Systems (D)		9,479
	80	Monarch Casino & Resort, Inc. (D)		1,926
	218	Nice Systems Ltd. (D)		7,472
	106	Parametric Technology Corp. (D)		1,891
	166	Premier Exhibitions, Inc. (D)(G)		1,815
	129	Premiere Global Services, Inc. (D)		1,915
	110	Priceline.com, Inc. (D)(G)		12,688
	80	Resources Connection, Inc.		1,453
	148	Secure Computing Corp. (D)(G)		1,420
	206	Spherion Corp. (D)		1,496
	16	Strayer Education, Inc.		2,649
	381	Waste Connections, Inc. (D)		11,782
	46	Wright Express Corp. (D)		1,617
				192,861
		Technology — 28.7%
	605	Activision, Inc. (D)		17,982
	70	Actuant Corp. Class A		2,371
	242	Actuate Corp. (D)		1,884
	77	Acuity Brands, Inc.		3,469
	95	ADTRAN, Inc.		2,025
	216	Advanced Analogic Technologies, Inc. (D)(G)		2,439
	134	Advanced Energy Industries, Inc. (D)		1,756
	79	Advent Software, Inc. (D)		4,269
	60	Ansoft Corp. (D)		1,559
	481	Ansys, Inc. (D)		19,920
	152	Applied Micro Circuits Corp. (D)(G)		1,326
	159	Arris Group, Inc. (D)		1,592
	123	Aspen Technology, Inc. (D)		2,000
	59	Belden, Inc.		2,608
	61	Blackbaud, Inc.		1,715
	54	Blackboard, Inc. (D)		2,161
	127	Blue Coat Systems, Inc. (D)		4,186
	297	Cellcom Israel Ltd.		9,431
	266	Centennial Cellular Corp. Class A (D)(G)		2,474
	257	Chordiant Software, Inc. (D)		2,193
	74	Cogent Communication Group, Inc. (D)(G)		1,745
	328	Commvault Systems, Inc. (D)		6,950
	87	Comtech Group, Inc. (D)		1,398
	46	Comtech Telecommunications Corp. (D)		2,494
	208	Concur Technologies, Inc. (D)(G)		7,536
	105	CSG Systems International, Inc. (D)		1,545
	160	Ctrip.com International Ltd.		9,185
	33	Cubic Corp.		1,283
	41	DealerTrack Holdings, Inc. (D)		1,371
	55	Diodes, Inc. (D)		1,657
	28	Dionex Corp. (D)		2,285
	547	Emulex Corp. (D)		8,930
	273	Equinix, Inc. (D)(G)		27,584
	35	Esterline Technologies Corp. (D)		1,786
	123	Faro Technologies (D)		3,349
	582	FLIR Systems, Inc. (D)(G)		18,231
	43	FormFactor, Inc. (D)		1,423
	302	Fossil, Inc. (D)		12,681
	36	Genlyte Group (D)		3,427
	45	HMS Holdings Corp. (D)		1,508
	535	Hologic, Inc. (D)		36,736
	135	iBasis, Inc.		691
	268	IHS, Inc. (D)		16,215
	130	Informatica Corp. (D)		2,346
	442	Interactive Data Corp.		14,614
	113	Interdigital, Inc. (D)		2,632
	20	Itron, Inc. (D)(G)		1,920
	125	j2 Global Communications, Inc. (D)		2,655
	104	JA Solar Holdings Co., Ltd. ADR (D)		7,234
	210	Logitech International S.A. (D)		7,702
	98	Microsemi Corp. (D)		2,168
	20	MicroStrategy, Inc. (D)		1,927
	108	Mine Safety Appliances Co.		5,612
	209	MIPS Technologies, Inc. Class A (D)(G)		1,037
	93	Monolithic Power Systems, Inc. (D)		1,993
	81	Netflix, Inc. (D)(G)		2,168
	66	Netlogic Microsystems, Inc. (D)(G)		2,122
	98	Novatel Wireless, Inc. (D)		1,586
	575	Nuance Communications, Inc. (D)(G)		10,748
	578	O2Micro International Ltd. ADR (D)		6,673
	73	Omniture, Inc. (D)(G)		2,427
	117	OmniVision Technologies, Inc. (D)(G)		1,835
	352	ON Semiconductor Corp. (D)(G)		3,122
	1,088	Orbitz Worldwide, Inc. (D)		9,245
	106	Phase Forward, Inc. (D)		2,314
	585	PMC — Sierra, Inc. (D)(G)		3,828
	95	Polycom, Inc. (D)		2,643
	722	RF Micro Devices, Inc. (D)(G)		4,124
	89	RightNow Technologies, Inc. (D)		1,414
	37	SAVVIS, Inc. (D)		1,029
	444	Semtech Corp. (D)		6,887
	139	SiRF Technology Holdings, Inc. (D)(G)		3,492
	66	Sirona Dental Systems, Inc. (D)(G)		2,213
	229	Skyworks Solutions, Inc. (D)		1,948
	56	Sohu.com, Inc. (D)		3,075
	287	Sonus Networks, Inc. (D)(G)		1,671
	68	SPSS, Inc. (D)		2,442
	49	SRA International, Inc. (D)		1,443
	401	Sycamore Networks, Inc. (D)		1,540
	57	Synchronoss Technologies, Inc. (D)		2,021
	323	Teledyne Technologies, Inc. (D)		17,251
	333	THQ, Inc. (D)		9,397
	81	Time Warner Telecom, Inc. Class A (D)		1,648
	206	Trident Microsystems, Inc. (D)		1,350
	175	Triumph Group, Inc. (G)		14,403
	446	Trizetto Group, Inc. (D)		7,746
	194	Valueclick, Inc. (D)		4,249
	29	Varian, Inc. (D)		1,915
	123	Vasco Data Security International (D)		3,440
	111	Veeco Instruments, Inc. (D)(G)		1,856
	147	Websense, Inc. (D)		2,500
	139	Wind River Systems, Inc. (D)		1,242
	94	Zoran Corp. (D)		2,126
				460,343
		Transportation — 0.6%
	103	American Commercial Lines, Inc. (D)(G)		1,677
	38	Genco Shipping & Trading Ltd.		2,092
	83	Polaris Industries, Inc. (G)		3,967
	58	Teekay Tankers Ltd. (D)		1,278
				9,014

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

­ ­  144  ­ ­

					Market
Shares					Value (W)
COMMON STOCK — (continued)
		Utilities — 0.1%
	38	ITC Holdings Corp.			$	2,169
		Total common stock (cost $1,463,850)			$	1,631,858
PREFERRED STOCK — 0.4%
		Services — 0.4%
	568	Net Servicos de Comunicacao S.A. (D)				6,927
		Total preferred stock (cost $6,918)			$	6,927
		Total long-term investments (cost $1,470,768)			$	1,638,785
Principal
Amount
SHORT-TERM INVESTMENTS — 21.0%
		Repurchase Agreements — 1.5%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,030, collateralized by FNMA 5.00%, 2035, value of $1,050)
$	1,030	4.50% dated 12/31/2007			$	1,030
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $9, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $9)
	9	1.35% dated 12/31/2007				9
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $2,867, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $2,923)
	2,866	4.75% dated 12/31/2007				2,866
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $404, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $412)
	404	4.60% dated 12/31/2007				404
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2008 in the amount of $9,743, collateralized by U.S. Treasury Note 3.63%, 2012, value of $9,978)
	9,743	1.30% dated 12/31/2007				9,743
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2008 in the amount of $9,502, collateralized by U.S. Treasury Note 3.38% — 12.50%, 2009 — 2014, value of $9,707)
	9,501	1.25% dated 12/31/2007				9,501
						23,553
					Market
Shares					Value (W)
		Securities Purchased with Proceeds from Security Lending — 19.5%
		Cash Collateral Reinvestment Fund:
	312,815	Goldman Sachs FS Prime Obligation/Institutional Fund				312,815
Principal
Amount
		U.S. Treasury Bills — 0.0%
$	1,015	2.97%, 03/13/2008 (M)(S)				1,009
		Total short-term investments (cost $337,377)			$	337,377
		Total investments (cost $1,808,145) (C)	123.1	%	$	1,976,162
		Other assets and liabilities	(23.1	)%		(370,943	)
		Total net assets	100.0	%	$	1,605,219

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 11.90% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $1,816,109 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	259,201
Unrealized Depreciation		(99,148	)
Net Unrealized Appreciation	$	160,053

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $53,513, which represents 3.33% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(M)	The interest rate disclosed for these securities represents the effective yield on the date of acquisition.
(S)	Security pledged as initial margin deposit for open futures contracts at December 31, 2007.
	Futures Contracts Outstanding at December 31, 2007

							Unrealized
	Number of				Expiration		Appreciation/
Description	Contracts*		Position		Month		(Depreciation)
Russell Mini Futures		238		Long		Mar 2008	$	53

	* The number of contracts does not omit 000’s.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  145  ­ ­

Hartford SmallCap Growth HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 97.5%
		Basic Materials — 6.5%
	13	Alpha Natural Resources, Inc. (D)	$	419
	14	American Vanguard		237
	8	Barnes Group, Inc.		270
	6	Cabot Microelectronics Corp. (D)		219
	113	Century Aluminum Co. (D)(G)		6,076
	125	Ceradyne, Inc. (D)		5,874
	60	CF Industries Holdings, Inc.		6,642
	110	Cleveland-Cliffs, Inc. (G)		11,108
	72	Drew Industries (D)		1,976
	4	Dynamic Materials Corp.		218
	76	Grace (W.R.) & Co. (D)(G)		1,996
	14	Hercules, Inc.		273
	163	Select Comfort Corp. (D)(G)		1,146
	39	Sturm Ruger & Co., Inc. (D)(G)		325
	184	Sun Hydraulics Corp. (G)		4,640
	253	Tempur-Pedic International, Inc. (G)		6,545
	130	Terra Industries, Inc. (D)(G)		6,223
	7	Titan International, Inc.		232
	16	Tupperware Brands Corp.		524
	3	Valmont Industries, Inc.		232
	123	Zep, Inc. (D)		1,709
				56,884
		Capital Goods — 5.5%
	46	Asyst Technologies, Inc. (D)		151
	8	Bally Technologies, Inc. (D)		406
	4	Blue Nile, Inc. (D)(G)		293
	3	Bucyrus International, Inc.		308
	8	Cymer, Inc. (D)		312
	4	Dril-Quip, Inc. (D)		246
	233	Entegris, Inc. (D)		2,009
	8	Flotek Inds, Inc. (D)		270
	10	Goodman Global, Inc. (D)		249
	111	Graco, Inc.		4,145
	55	Gulf Island Fabrication		1,728
	14	Hexcel Corp. (D)		333
	160	Intevac, Inc. (D)		2,329
	217	Jakks Pacific, Inc. (D)		5,123
	23	Kulicke and Soffa Industries, Inc. (D)		160
	111	Lennox International, Inc.		4,581
	33	Lufkin Industries, Inc.		1,870
	121	MKS Instruments, Inc. (D)		2,314
	6	NATCO Group, Inc. (D)		299
	76	Robbins & Myers, Inc.		5,733
	23	Rudolph Technologies, Inc. (D)		259
	217	Steelcase, Inc.		3,436
	8	Tessera Technologies, Inc. (D)		320
	8	TransDigm Group, Inc. (D)		343
	273	Varian Semiconductor Equipment Associates, Inc. (D)		10,103
	4	Woodward Governor Co.		244
				47,564
		Consumer Cyclical — 10.7%
	167	Aeropostale, Inc. (D)		4,416
	95	Agilysys, Inc.		1,433
	125	AnnTaylor Stores Corp. (D)		3,203
	126	Applied Industrial Technologies, Inc.		3,668
	130	BJ’s Wholesale Club, Inc. (D)		4,381
	138	Bon-Ton Stores, Inc. (G)		1,306
	246	Brown Shoe Co., Inc.		3,726
	44	Buffalo Wild Wings, Inc. (D)(G)		1,026
	9	CBRL Group, Inc.		294
	81	Charlotte Russe Holding, Inc. (D)		1,310
	68	Chemed Corp.		3,804
	3	Chipotle Mexican Grill, Inc. (D)		328
	214	Collective Brands, Inc. (D)		3,727
	12	Conns, Inc. (D)(G)		203
	97	Crocs, Inc. (D)(G)		3,571
	30	Deckers Outdoor Corp. (D)		4,691
	71	Dollar Tree Stores, Inc. (D)		1,830
	136	Eddie Bauer Holdings, Inc. (D)(G)		861
	47	FGX International Holdings Ltd. (D)		553
	6	Granite Construction, Inc.		223
	12	Green Mountain Coffee Roasters (D)		498
	10	Herman Miller, Inc.		324
	506	Hot Topic, Inc. (D)		2,946
	122	Immersion Corp. (D)(G)		1,579
	8	Integrated Electrical Services, Inc. (D)		151
	191	J. Crew Group, Inc. (D)(G)		9,162
	10	Jack in the Box, Inc. (D)		254
	18	Jos. A. Bank Clothiers, Inc. (D)(G)		502
	12	K-Swiss, Inc.		214
	4	Layne Christensen Co. (D)		213
	10	Lear Corp. (D)		274
	15	LKQ Corp. (D)		322
	82	Maidenform Brands, Inc. (D)		1,113
	62	Men’s Wearhouse, Inc.		1,673
	6	Michael Baker Corp. (D)		234
	73	Nash Finch Co. (G)		2,582
	48	P. F. Chang’s China Bistro, Inc. (D)(G)		1,085
	258	Pacific Sunwear of California, Inc. (D)(G)		3,635
	51	Perini Corp. (D)		2,099
	13	PSS World Medical, Inc. (D)		254
	5	Sigma Designs, Inc. (D)		291
	189	Skechers U.S.A., Inc. Class A (D)		3,680
	108	Sotheby’s (G)		4,109
	682	Source Information Management Co. (D)(G)		1,964
	83	Spartan Stores, Inc.		1,887
	5	Synaptics, Inc. (D)		199
	117	Tenneco Automotive, Inc. (D)		3,050
	8	Tween Brands, Inc. (D)		225
	145	Ulta Salon, Cosmetics & Fragrances, Inc. (D)(G)		2,483
	19	Walter Industries		668
	9	Warnaco Group, Inc. (D)		324
	8	World Fuel Services Corp.		227
				92,775
		Consumer Staples — 0.4%
	7	Boston Beer Co., Inc. Class A (D)		275
	9	Cal-Maine Foods Inc. (G)		232
	6	Chattem, Inc. (D)		424
	10	Flowers Foods, Inc.		236
	4	M & F Worldwide Corp. (D)		225
	244	Sally Beauty Co., Inc. (D)		2,210
	15	Vector Group Ltd.		291
				3,893
		Energy — 5.9%
	321	Alon USA Energy, Inc. (G)		8,723
	9	Arena Resources, Inc. (D)		383

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

­ ­  146  ­ ­

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Energy — (continued)
	6	ATP Oil & Gas Corp. (D)	$	309
	6	Atwood Oceanics, Inc. (D)		560
	14	Basic Energy Services, Inc. (D)		312
	156	Cabot Oil & Gas Corp.		6,281
	20	Cal Dive International, Inc. (D)		265
	253	Complete Production Services, Inc. (D)(G)		4,550
	53	CVR Energy, Inc. (D)		1,332
	41	Dawson Geophysical Co. (D)		2,960
	251	Delek U.S. Holdings, Inc.		5,086
	473	Grey Wolf, Inc. (D)		2,523
	257	Headwaters, Inc. (D)(G)		3,017
	22	Hercules Offshore, Inc. (D)(G)		514
	9	Mariner Energy, Inc. (D)		202
	17	Petrohawk Energy Corp. (D)		290
	13	PetroQuest Energy, Inc. (D)		183
	254	Pioneer Drilling Co. (D)		3,017
	66	Swift Energy Co. (D)		2,888
	105	Trico Marine Services, Inc. (D)(G)		3,869
	232	Union Drilling, Inc. (D)		3,655
	5	WD40 Co.		175
	6	W-H Energy Services (D)		360
				51,454
		Finance — 6.0%
	356	Advanta Corp. Class B		2,873
	3	Alexandria Real Estate Equities, Inc.		259
	73	Allied World Assurance Holdings Ltd.		3,657
	325	Amerisafe, Inc. (D)		5,044
	67	Arch Capital Group Ltd. (D)		4,742
	186	Aspen Insurance Holdings Ltd.		5,370
	20	Centene Corp. (D)		554
	58	CompuCredit Corp. (D)(G)		580
	5	Digital Realty Trust, Inc.		203
	72	Dollar Financial Corp. (D)		2,222
	127	Encore Capital Group, Inc. (D)(G)		1,233
	12	Evercore Partners, Inc.		265
	96	First Community Bancorp, Inc.		3,955
	6	First Industrial Realty Trust, Inc. (G)		194
	4	GFI Group, Inc. (D)		402
	9	Greenhill & Co., Inc. (G)		586
	4	IHOP Corp.		143
	16	Interactive Brokers Group (D)		509
	16	Knight Capital Group, Inc. (D)		224
	5	Morningstar, Inc. (D)		386
	103	National Financial Partners Corp. (G)		4,675
	14	Nationwide Health Properties, Inc. (G)		433
	11	optionsXpress Holdings, Inc.		374
	5	Post Properties, Inc.		169
	7	Signature Bank (D)		223
	215	Sunstone Hotel Investors, Inc.		3,927
	6	SVB Financial Group (D)		303
	47	Taubman Centers, Inc.		2,332
	14	Universal American Financial Corp. (D)		346
	164	Waddell and Reed Financial, Inc. Class A		5,922
				52,105
		Health Care — 20.8%
	300	Acadia Pharmaceuticals, Inc. (D)(G)		3,318
	11	Accuray, Inc. (D)		172
	12	Acorda Therapeutics, Inc. (D)		265
	8	Adams Respiratory Therapeutics, Inc. (D)		493
	4	Alexion Pharmaceuticals, Inc. (D)		307
	14	Align Technology, Inc. (D)		231
	658	Alkermes, Inc. (D)		10,259
	18	Alliance Imaging, Inc. (D)		174
	6	Alnylam Pharmaceuticals, Inc. (D)		182
	251	American Oriental Bioengineering, Inc. (D)(G)		2,779
	395	Applera Corp. — Celera Group (D)		6,267
	18	Apria Healthcare Group, Inc. (D)		383
	565	Arena Pharmaceuticals, Inc. (D)(G)		4,420
	6	ArthroCare Corp. (D)(G)		284
	18	Biomarin Pharmaceutical, Inc. (D)		651
	14	Bradley Pharmaceuticals, Inc. (D)		283
	129	CONMED Corp. (D)		2,979
	20	Cubist Pharmaceuticals, Inc. (D)		420
	775	CV Therapeutics, Inc. (D)(G)		7,011
	170	Cynosure, Inc. Class A (D)(G)		4,485
	421	Cytokinetics, Inc. (D)		1,992
	30	Dendreon Corp. (D)(G)		187
	909	Encysive Pharmaceuticals, Inc. (D)		773
	321	Exelixis, Inc. (D)		2,768
	7	Healthways, Inc. (D)		427
	433	Human Genome Sciences, Inc. (D)(G)		4,517
	5	Illumina, Inc. (D)		273
	9	Immucor, Inc. (D)		292
	394	Incyte Corp. (D)		3,961
	8	Integra LifeSciences Holdings Corp. (D)(G)		322
	327	Invacare Corp. (G)		8,240
	5	Kendle International, Inc. (D)		244
	13	KV Pharmaceutical Co. (D)		365
	4	Landauer, Inc.		208
	16	LCA-Vision, Inc. (G)		329
	7	Lifecell Corp. (D)		282
	358	LifePoint Hospitals, Inc. (D)(G)		10,641
	125	Longs Drug Stores Corp. (G)		5,875
	94	Magellan Health Services, Inc. (D)		4,349
	324	Mannatech, Inc. (G)		2,051
	12	Matria Healthcare, Inc. (D)		290
	10	Medicines Co. (D)		195
	16	Medicis Pharmaceutical Corp. Class A		426
	6	Meridian Bioscience, Inc.		188
	84	MGI PHARMA, Inc. (D)		3,393
	8	Myriad Genetics, Inc. (D)(G)		357
	1,040	NPS Pharmaceuticals, Inc. (D)		3,983
	100	Obagi Medical Products, Inc. (D)		1,827
	4	Onyx Pharmaceuticals, Inc. (D)		239
	7	OSI Pharmaceuticals, Inc. (D)		338
	19	Par Pharmaceutical Cos., Inc. (D)		459
	5	PAREXEL International Corp. (D)		260
	482	Perrigo Co. (G)		16,868
	5	PharmaNet Development Group, Inc. (D)		207
	6	Pharmion Corp. (D)		404
	80	Progenics Pharmaceuticals, Inc. (D)(G)		1,444
	15	Quidel Corp. (D)		287
	480	Regeneron Pharmaceuticals, Inc. (D)		11,597
	420	Rigel Pharmaceuticals, Inc. (D)(G)		10,666
	155	Salix Pharmaceuticals Ltd. (D)(G)		1,224
	20	Savient Pharmaceuticals, Inc. (D)		470
	20	Sciele Pharma, Inc. (D)(G)		400
	272	STERIS Corp.		7,858
	87	SurModics, Inc. (D)(G)		4,700

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

­ ­  147  ­ ­

Hartford SmallCap Growth HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Health Care — (continued)
	97	Symmetry Medical, Inc. (D)	$	1,682
	89	Tomotherapy, Inc. (D)(G)		1,741
	6	United Therapeutics Corp. (D)		623
	87	Usana Health Sciences, Inc. (D)(G)		3,205
	20	Valeant Pharmaceuticals International (D)		243
	5	Ventana Medical Systems, Inc. (D)		436
	350	Vermillion, Inc. (D)		280
	48	ViroPharma, Inc. (D)		381
	135	XenoPort, Inc. (D)		7,561
	231	ZymoGenetics, Inc. (D)(G)		2,694
				180,385
		Services — 12.9%
	9	Administaff, Inc.		244
	9	Allscripts Healthcare Solutions, Inc. (D)		167
	5	Anixter International, Inc. (D)		284
	12	Atheros Communications, Inc. (D)		356
	7	Bankrate, Inc. (D)(G)		353
	5	CACI International, Inc. Class A (D)		224
	3	Capella Education Co. (D)		211
	43	Central European Media Enterprises Ltd. (D)(G)		5,022
	101	Cerner Corp. (D)(G)		5,696
	257	Comsys IT Partners, Inc. (D)		4,049
	73	CPI Corp. (G)		1,724
	7	DeVry, Inc.		345
	12	Digital River, Inc. (D)		398
	120	Factset Research Systems, Inc.		6,684
	26	Foundry Networks, Inc. (D)		457
	8	FTI Consulting, Inc. (D)		498
	311	Healthspring, Inc. (D)		5,927
	399	Hub Group, Inc. (D)		10,592
	141	ICF International, Inc. (D)		3,569
	118	inVentiv Health, Inc. (D)		3,644
	165	ITT Educational Services, Inc. (D)		14,078
	168	Jack Henry & Associates, Inc.		4,089
	84	JDA Software Group, Inc. (D)		1,710
	6	Life Time Fitness, Inc. (D)		313
	124	Live Nation, Inc. (D)		1,798
	13	Macrovision Corp. (D)		235
	87	Mantech International Corp. Class A (D)		3,817
	9	MAXIMUS, Inc.		342
	245	Mentor Graphics Corp. (D)		2,638
	4	Micros Systems (D)		315
	10	Monarch Casino & Resort, Inc. (D)		229
	14	Parametric Technology Corp. (D)		256
	84	Plexus Corp. (D)		2,198
	124	Premier Exhibitions, Inc. (D)(G)		1,360
	16	Premiere Global Services, Inc. (D)		242
	94	Priceline.com, Inc. (D)(G)		10,775
	133	Resources Connection, Inc.		2,426
	20	Secure Computing Corp. (D)		196
	29	Spherion Corp. (D)		213
	2	Strayer Education, Inc.		365
	9	Waste Connections, Inc. (D)		278
	222	Watson Wyatt Worldwide, Inc. (G)		10,298
	84	Wright Express Corp. (D)		3,007
				111,622
		Technology — 25.3%
	45	A.O. Smith Corp.		1,560
	60	Actuant Corp. Class A		2,041
	33	Actuate Corp. (D)		259
	256	Acuity Brands, Inc.		11,557
	152	ADC Telecommunications, Inc. (D)(G)		2,368
	13	ADTRAN, Inc.		273
	469	Advanced Energy Industries, Inc. (D)		6,138
	10	Advent Software, Inc. (D)		550
	9	Ansoft Corp. (D)		233
	204	Ansys, Inc. (D)		8,456
	815	Arris Group, Inc. (D)		8,131
	17	Aspen Technology, Inc. (D)		269
	81	Belden, Inc.		3,609
	7	Blackbaud, Inc.		191
	8	Blackboard, Inc. (D)		338
	105	Blue Coat Systems, Inc. (D)		3,456
	689	Brocade Communications Systems, Inc. (D)		5,054
	33	Centennial Cellular Corp. Class A (D)		309
	201	Chordiant Software, Inc. (D)		1,717
	65	Cogent Communication Group, Inc. (D)(G)		1,543
	189	CommScope, Inc. (D)		9,296
	10	Comtech Group, Inc. (D)		158
	80	Comtech Telecommunications Corp. (D)		4,330
	9	Concur Technologies, Inc. (D)		319
	255	CSG Systems International, Inc. (D)		3,749
	33	Cubic Corp.		1,286
	6	DealerTrack Holdings, Inc. (D)		188
	7	Diodes, Inc. (D)		219
	4	Dionex Corp. (D)		314
	673	Emulex Corp. (D)		10,980
	4	Equinix, Inc. (D)		371
	5	Esterline Technologies Corp. (D)		261
	16	FLIR Systems, Inc. (D)		513
	6	FormFactor, Inc. (D)		185
	46	Fossil, Inc. (D)		1,943
	6	Genlyte Group (D)		562
	98	Golden Telecom, Inc. (D)(G)		9,843
	119	Greatbatch, Inc. (D)		2,371
	6	HMS Holdings Corp. (D)		209
	12	Hologic, Inc. (D)		789
	18	iBasis, Inc.		93
	4	IHS, Inc. (D)		227
	19	Informatica Corp. (D)		344
	8	Interactive Data Corp.		261
	15	Interdigital, Inc. (D)		352
	3	Itron, Inc. (D)		283
	257	j2 Global Communications, Inc. (D)(G)		5,433
	121	LoJack Corp. (D)		2,036
	384	Magma Design Automation, Inc. (D)		4,686
	390	Micrel, Inc.		3,296
	12	Microsemi Corp. (D)		261
	3	MicroStrategy, Inc. (D)		252
	43	Middleby Corp. (D)(G)		3,310
	21	MIPS Technologies, Inc. Class A (D)		105
	13	Monolithic Power Systems, Inc. (D)		276
	167	Netflix, Inc. (D)(G)		4,435
	7	Netlogic Microsystems, Inc. (D)		238
	184	Neustar, Inc. (D)(G)		5,280
	99	Novatel Wireless, Inc. (D)		1,596
	30	Nuance Communications, Inc. (D)		558
	59	Omniture, Inc. (D)(G)		1,946

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

­ ­  148  ­ ­

					Market
Shares					Value (W)
COMMON STOCK — (continued)
		Technology — (continued)
	16	OmniVision Technologies, Inc. (D)(G)			$	249
	739	ON Semiconductor Corp. (D)(G)				6,562
	440	Orbitz Worldwide, Inc. (D)				3,735
	16	Phase Forward, Inc. (D)				341
	72	PMC — Sierra, Inc. (D)				471
	13	Polycom, Inc. (D)				360
	896	RF Micro Devices, Inc. (D)(G)				5,118
	13	RightNow Technologies, Inc. (D)				203
	5	SAVVIS, Inc. (D)				137
	21	Semtech Corp. (D)				331
	18	SiRF Technology Holdings, Inc. (D)				453
	9	Sirona Dental Systems, Inc. (D)				295
	864	Skyworks Solutions, Inc. (D)				7,339
	467	Smart Modular Technologies, Inc. (D)				4,753
	8	Sohu.com, Inc. (D)				431
	44	Sonus Networks, Inc. (D)(G)				256
	110	SPSS, Inc. (D)				3,947
	7	SRA International, Inc. (D)				200
	92	Starent Networks Corp. (D)(G)				1,681
	136	Sybase, Inc. (D)				3,546
	55	Sycamore Networks, Inc. (D)				210
	76	Synchronoss Technologies, Inc. (D)				2,667
	219	Technitrol, Inc.				6,248
	80	THQ, Inc. (D)				2,250
	13	Time Warner Telecom, Inc. Class A (D)				254
	27	Trident Microsystems, Inc. (D)				177
	89	Triumph Group, Inc. (G)				7,288
	259	Trizetto Group, Inc. (D)				4,495
	335	Ultra Clean Holdings, Inc. (D)				4,083
	333	United Online, Inc. (G)				3,936
	27	Valueclick, Inc. (D)				596
	4	Varian, Inc. (D)				281
	15	Vasco Data Security International (D)				427
	13	Veeco Instruments, Inc. (D)				217
	354	Vishay Intertechnology, Inc. (D)				4,036
	16	Websense, Inc. (D)				272
	16	Wind River Systems, Inc. (D)				147
	13	Zoran Corp. (D)				287
						219,485
		Transportation — 3.5%
	71	Air Methods Corp. (D)(G)				3,541
	61	Alaska Air Group, Inc. (D)				1,531
	14	American Commercial Lines, Inc. (D)				231
	135	FreightCar America, Inc.				4,735
	4	Genco Shipping & Trading Ltd.				241
	359	Knight Transportation, Inc. (G)				5,320
	173	Landstar System, Inc.				7,288
	11	Polaris Industries, Inc. (G)				539
	121	SkyWest, Inc.				3,235
	214	Werner Enterprises, Inc. (G)				3,648
						30,309
		Utilities — 0.0%
	5	ITC Holdings Corp.				263
		Total common stock (cost $844,242)			$	846,739
Principal					Market
Amount					Value (W)
SHORT-TERM INVESTMENTS — 26.3%
		Repurchase Agreements — 2.2%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $4,469, collateralized by FNMA 5.00%, 2035, value of $4,557)
$	4,468	4.50% dated 12/31/2007			$	4,468
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $40, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $41)
	40	1.35% dated 12/31/2007				40
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $12,437, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $12,682)
	12,433	4.75% dated 12/31/2007				12,433
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,754, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $1,789)
	1,754	4.60% dated 12/31/2007				1,754
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2008 in the amount of $68, collateralized by U.S. Treasury Note 3.63%, 2012, value of $70)
	68	1.30% dated 12/31/2007				68
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2008 in the amount of $67, collateralized by U.S. Treasury Note 3.38% — 12.50%, 2009 — 2014, value of $68)
	67	1.25% dated 12/31/2007				67
						18,830
Shares
		Securities Purchased with Proceeds from Security Lending — 24.1%
		Cash Collateral Reinvestment Fund:
	208,903	Goldman Sachs FS Prime Obligation/Institutional Fund				208,903
Principal
Amount
		U.S. Treasury Bills — 0.0%
$	360	2.85%, 03/13/2008 (M)(S)				358
		Total short-term investments (cost $228,091)			$	228,091
		Total investments (cost $1,072,333) (C)	123.8	%	$	1,074,830
		Other assets and liabilities	(23.8	)%		(206,553	)
		Total net assets	100.0	%	$	868,277

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 0.06% of total net assets at December 31, 2007.

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

­ ­  149  ­ ­

Hartford SmallCap Growth HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $1,076,428 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	117,153
Unrealized Depreciation		(118,751	)
Net Unrealized Depreciation	$	(1,598	)

(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(M)	The interest rate disclosed for these securities represents the effective yield on the date of acquisition.
(S)	Security pledged as initial margin deposit for open futures contracts at December 31, 2007.
	Futures Contracts Outstanding at December 31, 2007

							Unrealized
	Number of				Expiration		Appreciation/
Description	Contracts*		Position		Month		(Depreciation)
Russell Mini Futures		3		Long		Mar 2008	$	4

	* The number of contracts does not omit 000’s.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  150  ­ ­

Hartford SmallCap Value HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 96.9%
		Basic Materials — 9.2%
	3	Ampco-Pittsburgh Corp. (G)	$	122
	6	AptarGroup, Inc.		225
	1	Arch Chemicals, Inc.		33
	32	Balchem Corp. (G)		705
	4	Barnes Group, Inc. (G)		124
	2	Blount International (D)		20
	8	Buckeye Technologies, Inc. (D)(G)		105
	3	Cambrex Corp. (G)		22
	3	CF Industries Holdings, Inc.		308
	4	Champion Enterprises, Inc. (D)(G)		36
	1	CIRCOR International, Inc. (G)		32
	8	Cooper Tire & Rubber Co.		131
	3	Crown Media Holdings, Inc. (D)(G)		20
	1	CSS Industries, Inc. (G)		40
	1	Foster (L.B.) Co. Class A (D)(G)		41
	32	Glatfelter Co. (G)		490
	1	Grace (W.R.) & Co. (D)(G)		21
	7	H.B. Fuller Co. (G)		153
	3	Hercules, Inc. (G)		60
	2	Innophos Holdings, Inc. (G)		25
	33	Matthews International Corp. Class A		1,523
	2	Minerals Technologies, Inc. (G)		147
	12	Neenah Paper, Inc. (G)		359
	1	Olin Corp.		19
	2	OM Group, Inc. (D)(G)		121
	3	Quanex Corp. (G)		145
	1	Rock Tenn Co. Class A		31
	2	Rockwood Holdings, Inc. (D)		66
	18	RPM International, Inc. (G)		370
	1	Schnitzer Steel Industries, Inc.		42
	1	Schweitzer-Mauduit International, Inc. (G)		18
	6	Sensient Technologies Corp. (G)		175
	2	Silgan Holdings, Inc.		109
	2	Superior Essex, Inc. (D)(G)		50
	49	Tempur-Pedic International, Inc. (G)		1,278
	—	Tredegar Corp. (G)		5
	2	Tupperware Brands Corp. (G)		56
	9	Watts Water Technologies, Inc. (G)		280
				7,507
		Capital Goods — 6.2%
	1	ACCO Brands Corp. (D)(G)		11
	10	Asyst Technologies, Inc. (D)(G)		33
	5	Blyth, Inc. (G)		105
	2	Brooks Automation, Inc. (D)(G)		24
	7	Callaway Golf Co. (G)		122
	1	Cascade Bancorp (G)		46
	41	Clarcor, Inc. (G)		1,545
	3	Columbus McKinnon Corp. (D)(G)		88
	8	Compass Diversified Holdings (G)		124
	2	Cymer, Inc. (D)(G)		62
	5	Enpro Industries, Inc. (D)		138
	56	Entegris, Inc. (D)(G)		480
	1	Helen of Troy Ltd. (D)(G)		9
	2	Jakks Pacific, Inc. (D)(G)		47
	—	Leapfrog Enterprises, Inc. (D)(G)		1
	20	Lincoln Electric Holdings, Inc. (G)		1,424
	4	MKS Instruments, Inc. (D)(G)		80
	4	Modine Manufacturing Co. (G)		63
	3	Nordson Corp. (G)		145
	2	Oil States International, Inc. (D)(G)		79
	2	Orbital Sciences Corp. (D)(G)		52
	3	Photronics, Inc. (D)(G)		40
	13	RC2 Corp. (D)(G)		365
	—	Rudolph Technologies, Inc. (D)		3
	1	Tecumseh Products Co. Class A (D)(G)		14
				5,100
		Consumer Cyclical — 13.9%
	1	A.M. Castle & Co.		14
	10	Adaptec, Inc. (D)(G)		33
	2	AFC Enterprises, Inc. (D)(G)		18
	14	Aftermarket Technology Corp. (D)		365
	6	Agilysys, Inc. (G)		85
	2	American Axle & Manufacturing Holdings, Inc. (G)		37
	2	Applied Industrial Technologies, Inc. (G)		58
	19	Blockbuster, Inc. Class A (D)(G)		75
	1	BlueLinx Holdings, Inc. (G)		3
	40	Borders Group, Inc. (G)		426
	1	Casey’s General Stores, Inc.		33
	1	CEC Entertainment, Inc. (D)		13
	6	Chemed Corp. (G)		341
	27	Cherokee, Inc. (G)		875
	22	Children’s Place Retail Stores, Inc. (D)(G)		570
	—	Comfort Systems USA, Inc. (G)		1
	1	CompX International, Inc. (G)		18
	4	Conns, Inc. (D)(G)		62
	3	Core-Mark Holding Co., Inc. (D)(G)		92
	11	CSK Automotive Corp. (D)(G)		54
	3	Domino’s Pizza, Inc. (G)		34
	6	Dress Barn, Inc. (D)		75
	3	Dycom Industries, Inc. (D)(G)		88
	—	Eddie Bauer Holdings, Inc. (D)(G)		1
	6	EMCOR Group, Inc. (D)		149
	1	Ethan Allen Interiors, Inc. (G)		31
	15	Fred’s, Inc. (G)		144
	5	FTD Group, Inc. (G)		70
	1	Gaiam, Inc., Class A (D)		42
	11	Granite Construction, Inc. (G)		384
	15	Group 1 Automotive, Inc. (G)		352
	3	Hot Topic, Inc. (D)(G)		18
	31	Huttig Building Products, Inc. (D)(G)		108
	14	ICU Medical, Inc. (D)(G)		493
	—	Immersion Corp. (D)		1
	5	Insight Enterprises, Inc. (D)		89
	2	Integrated Electrical Services, Inc. (D)(G)		36
	1	Interline Brands, Inc. (D)		20
	4	Jack in the Box, Inc. (D)		113
	1	Jo-Ann Stores, Inc. (D)(G)		8
	5	Lear Corp. (D)(G)		138
	3	Maidenform Brands, Inc. (D)(G)		35
	49	McGrath RentCorp (G)		1,249
	3	Nash Finch Co. (G)		102
	30	Owens & Minor, Inc. (G)		1,273
	17	Papa John’s International, Inc. (D)(G)		379
	15	Performance Food Group Co. (D)(G)		403
	2	Perini Corp. (D)(G)		91
	1	Pier 1 Imports, Inc. (D)(G)		6
	16	School Specialty, Inc. (D)(G)		536
	—	Spartan Stores, Inc. (G)		2
	2	Systemax, Inc. (G)		33
	10	United Stationers, Inc. (D)(G)		453

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

­ ­  151  ­ ­

Hartford SmallCap Value HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Consumer Cyclical — (continued)
	1	Village Super Market, Inc. (G)	$	61
	3	Warnaco Group, Inc. (D)		87
	6	Wolverine World Wide, Inc. (G)		140
	35	World Fuel Services Corp. (G)		1,007
				11,424
		Consumer Staples — 2.6%
	3	Cal-Maine Foods Inc. (G)		85
	15	Chattem, Inc. (D)(G)		1,095
	4	Elizabeth Arden, Inc. (D)(G)		71
	—	Hain Celestial Group, Inc. (D)(G)		10
	17	J&J Snack Foods Corp. (G)		532
	1	Ralcorp Holdings, Inc. (D)(G)		31
	—	Seaboard Corp. (G)		147
	2	TreeHouse Foods, Inc. (D)		48
	3	Universal Corp. (G)		133
				2,152
		Energy — 6.0%
	1	Berry Petroleum Co. (G)		44
	2	Bill Barrett Corp. (D)(G)		96
	30	Crosstex Energy, Inc. (G)		1,132
	2	Delek U.S. Holdings, Inc. (G)		49
	5	Energy Partners Ltd. (D)		53
	—	Energysouth, Inc. (G)		6
	4	Exco Resources, Inc. (D)(G)		63
	1	Exterran Holdings, Inc. (D)(G)		98
	16	Grey Wolf, Inc. (D)(G)		84
	2	Harvest Natural Resources, Inc. (D)(G)		23
	3	Laclede Group, Inc. (G)		89
	1	McMoRan Exploration Co. (D)(G)		18
	7	New Jersey Resources Corp. (G)		355
	—	Newpark Resources, Inc. (D)(G)		2
	1	Nicor, Inc. (G)		34
	3	Northwest Natural Gas Co. (G)		165
	7	Oceaneering International, Inc. (D)(G)		445
	5	Oilsands Quest, Inc. (D)(G)		20
	3	Petrohawk Energy Corp. (D)(G)		50
	3	Piedmont Natural Gas (G)		71
	8	Quicksilver Resources, Inc. (D)(G)		489
	6	Rosetta Resources, Inc. (D)(G)		117
	1	Southwest Gas Corp.		36
	1	Stone Energy Corp. (D)(G)		42
	1	Swift Energy Co. (D)(G)		40
	2	Trico Marine Services, Inc. (D)(G)		74
	—	Union Drilling, Inc. (D)		2
	28	WD40 Co. (G)		1,052
	4	WGL Holdings, Inc. (G)		125
	1	Whiting Petroleum Corp. (D)(G)		63
				4,937
		Finance — 25.0%
	—	AMCORE Financial, Inc. (G)		9
	10	American Equity Investment Life Holding Co. (G)		80
	2	American Physicians Capital, Inc. (G)		70
	3	Amerigroup Corp. (D)		106
	2	Amtrust Financial Services (G)		32
	9	Anthracite Capital, Inc. (G)		62
	1	Anworth Mortgage Asset Corp.		9
	2	Apollo Investment Corp. (G)		26
	1	Arbor Realty Trust (G)		18
	90	Ares Capital Corp. (G)		1,314
	1	Argo Group International Holdings, Ltd. (D)		26
	10	Ashford Hospitality (G)		70
	8	Aspen Insurance Holdings Ltd. (G)		219
	3	Assured Guaranty Ltd. (G)		80
	1	Asta Funding, Inc. (G)		37
	—	Bancfirst Corp. (G)		13
	7	Banco Latinoamericano de Exportaciones S.A. ADR Class E		121
	8	BankAtlantic Bancorp, Inc. Class A (G)		34
	3	Berkshire Hills Bancorp, Inc. (G)		81
	18	Boston Private Financial Holdings, Inc. (G)		490
	2	Calamos Asset Management, Inc.		57
	1	Capital Corp. of the West (G)		10
	6	CapLease, Inc. (G)		51
	60	Cathay General Bancorp (G)		1,583
	5	Centene Corp. (D)(G)		137
	10	Centennial Bank Holdings, Inc. (D)(G)		56
	1	Center Financial Corp. (G)		6
	6	Centerline Holding Co. (G)		47
	5	Central Pacific Financial Corp. (G)		89
	1	Chemical Financial Corp. (G)		17
	11	Citizens Republic Bancorp, Inc. (G)		153
	—	City Holding Co. (G)		3
	30	Colonial BancGroup, Inc. (G)		406
	1	Community Trust Bancorp, Inc. (G)		14
	1	CompuCredit Corp. (D)(G)		6
	62	Corus Bankshares, Inc. (G)		656
	50	CVB Financial Corp. (G)		514
	6	DCT Industrial Trust Inc. (G)		54
	6	Diamondrock Hospitality (G)		94
	1	Dime Community Bancshares		13
	2	Dollar Thrifty Automotive Group, Inc. (D)(G)		35
	3	Education Realty Trust, Inc.		31
	—	Employers Holdings, Inc.		3
	27	Entertainment Properties Trust (G)		1,274
	4	FBL Financial Group Class A (G)		128
	1	Federal Agricultural Mortgage Corp. (G)		26
	23	Financial Federal Corp. (G)		513
	14	First BanCorp Puerto Rico		102
	1	First Community Bancshares (G)		19
	4	First Industrial Realty Trust, Inc. (G)		131
	3	First Merchants Corp. (G)		65
	2	First Mercury Financial Corp. (D)		59
	3	First Midwest Bancorp, Inc. (G)		80
	8	First Niagara Financial Group, Inc. (G)		93
	5	First Place Financial (G)		64
	2	FirstFed Financial Corp. (D)(G)		79
	6	Flagstone Reinsurance Holdings		85
	10	FNB Corp. (G)		147
	3	FPIC Insurance Group, Inc. (D)(G)		107
	4	Franklin Bank Corp. (D)(G)		15
	20	Friedman Billings Ramsey Group, Inc. (G)		64
	10	GMH Communities Trust		57
	6	Gramercy Capital Corp. (G)		139
	3	Great Southern Bancorp, Inc. (G)		66
	2	Green Bankshares, Inc.		33
	13	Hersha Hospitality Trust (G)		123
	—	Highwoods Properties, Inc.		3
	9	Hilltop Holdings, Inc. (D)(G)		96
	5	Horace Mann Educators Corp. (G)		91
	12	Impac Mortgage Holdings, Inc. (G)		6

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

­ ­  152  ­ ­

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Finance — (continued)
	1	Imperial Capital Bancorp, Inc.	$	24
	7	Independent Bank Corp. (Michigan) (G)		67
	1	Infinity Property & Casualty Corp. (G)		25
	3	Integra Bank Corp. (G)		44
	21	International Bancshares Corp. (G)		448
	4	IPC Holdings Ltd.		118
	8	Irwin Financial Corp. (G)		59
	2	JER Investors Trust, Inc. (G)		22
	1	Knight Capital Group, Inc. (D)(G)		19
	5	Knology, Inc. (D)(G)		59
	9	LaBranche & Co., Inc. (D)(G)		44
	2	Lakeland Bancorp, Inc. (G)		27
	5	LaSalle Hotel Properties (G)		150
	3	Lexington Realty Trust		38
	2	Macatawa Bankcorp (G)		18
	2	MainSource Financial Group, Inc. (G)		34
	4	Max Capital Group, Ltd.		104
	111	MCG Capital Corp. (G)		1,290
	11	Medical Properties Trust, Inc. (G)		114
	8	MFA Mortgage Investments, Inc.		76
	1	Molina Healthcare, Inc. (D)(G)		35
	6	Montpelier Re Holdings Ltd.		97
	3	N B T Bancorp (G)		59
	30	National Financial Partners Corp. (G)		1,355
	2	Navigators Group, Inc. (D)		156
	1	Newcastle Investment Corp. (G)		18
	7	NGP Capital Resources Co. (G)		108
	10	Old National Bankcorp (G)		147
	10	Oriental Financial Group, Inc.		127
	1	Pacific Capital Bancorp (G)		22
	5	Penn Real Estate Investment Trust		136
	2	Peoples Bancorp, Inc. (G)		50
	13	Phoenix Cos. (G)		155
	2	Piper Jaffray Cos. (D)(G)		107
	12	PMA Capital Corp. Class A (D)		95
	12	Prosperity Bancshares, Inc. (G)		338
	1	Provident Bankshares Corp. (G)		26
	8	Provident Financial Services, Inc. (G)		118
	3	Quadra Realty Trust, Inc. (G)		20
	—	Realty Income Corp.		11
	1	Renasant Corp. (G)		22
	3	Rent-A-Center, Inc. (D)(G)		46
	4	Resource Capital Corp. (G)		34
	1	Sandy Spring Bancorp, Inc. (G)		14
	4	Santander Bancorp		31
	1	SCBT Financial Corp. (G)		17
	3	Seabright Insurance Holdings (D)(G)		48
	34	Selective Insurance Group (G)		782
	2	Senior Housing Properties Trust (G)		41
	3	Simmons First National Corp. (G)		90
	14	Solera Holdings, Inc. (D)		338
	—	South Financial Group, Inc. (G)		2
	8	StanCorp Financial Group, Inc.		398
	4	Sterling Bancshares, Inc. (G)		49
	9	Strategic Hotels & Resorts, Inc. (G)		156
	8	Sunstone Hotel Investors, Inc. (G)		137
	25	Superior Bancorp (D)(G)		133
	7	Susquehanna Bancshares, Inc. (G)		127
	6	Symmetricom, Inc. (D)(G)		27
	5	Taylor Capital Group, Inc. (G)		92
	48	Trustco Bank Corp. (G)		473
	7	Trustmark Corp. (G)		167
	4	United Bankshares, Inc. (G)		101
	4	United Community Financial (G)		19
	1	United Fire & Casualty (G)		17
	229	W Holding Co., Inc. (G)		277
	4	Waddell and Reed Financial, Inc. Class A (G)		144
	5	WesBanco, Inc. (G)		109
	2	West Coast Bancorp (G)		28
	1	Wilshire Bancorp, Inc. (G)		6
	—	Wintrust Financial Corp. (G)		7
				20,489
		Health Care — 4.9%
	20	Advanced Medical Optics, Inc. (D)(G)		491
	5	Albany Molecular Research, Inc. (D)(G)		66
	3	Alliance Imaging, Inc. (D)(G)		30
	—	Alpharma, Inc. Class A (D)(G)		6
	2	Amicus Therapeutics, Inc. (D)(G)		24
	1	AmSurg Corp. (D)(G)		13
	2	Applera Corp. — Celera Group (D)		35
	5	Apria Healthcare Group, Inc. (D)(G)		97
	6	CONMED Corp. (D)		132
	9	Cooper Co., Inc. (G)		327
	3	Cross Country Healthcare, Inc. (D)(G)		35
	15	Emergency Medical Services (D)(G)		439
	1	Emeritus Corp. (D)(G)		23
	3	Forrester Research, Inc. (D)(G)		78
	—	Haemonetics Corp. (D)		13
	—	HealthSouth Corp. (D)(G)		4
	1	Incyte Corp. (D)(G)		11
	—	Insulet Corp. (D)		7
	2	InterMune, Inc. (D)(G)		29
	16	Landauer, Inc.		840
	13	Magellan Health Services, Inc. (D)(G)		606
	1	MedCath Corp. (D)(G)		32
	4	Perrigo Co. (G)		140
	6	Prestige Brands Holdings, Inc. (D)(G)		45
	2	Rehabcare Group, Inc. (D)		34
	2	Sciele Pharma, Inc. (D)(G)		31
	2	STERIS Corp. (G)		63
	17	Young Innovations, Inc.		397
				4,048
		Services — 13.5%
	57	ABM Industries, Inc. (G)		1,168
	7	American Greetings Corp. Class A (G)		148
	—	Ameristar Casinos, Inc. (G)		6
	15	AMN Healthcare Services, Inc. (D)(G)		265
	19	Avid Technology, Inc. (D)(G)		524
	1	Belo Corp. Class A (G)		10
	1	Bowne & Co., Inc. (G)		25
	—	Brady Corp. Class A		7
	11	CACI International, Inc. Class A (D)(G)		470
	2	Carmike Cinemas, Inc. (G)		15
	—	CDI Corp. (G)		5
	4	Central European Media Enterprises Ltd. (D)(G)		499
	4	CIBER, Inc. (D)		26
	23	Citadel Broadcasting Corp. (G)		48
	—	Coinstar, Inc. (D)		11
	22	Computer Services, Inc.		716
	1	Cox Radio, Inc. Class A (D)(G)		7
	3	DynCorp International, Inc. (D)(G)		78

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

­ ­  153  ­ ­

Hartford SmallCap Value HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Services — (continued)
	4	Entravision Communications Corp. Class A (D)(G)	$	31
	3	Foundry Networks, Inc. (D)(G)		58
	9	G & K Services, Inc. Class A (G)		341
	—	Great Wolf Resorts, Inc. (D)(G)		3
	1	Healthspring, Inc. (D)		23
	1	Heidrick & Struggles International, Inc.		41
	39	Jackson Hewitt Tax Service, Inc. (G)		1,238
	4	JDA Software Group, Inc. (D)(G)		76
	7	Journal Communications, Inc. (G)		60
	—	Lakes Entertainment, Inc. (D)(G)		1
	4	Lin TV Corp. (D)(G)		50
	1	Lodgian, Inc. (D)(G)		6
	2	Manhattan Associates, Inc. (D)		42
	9	MPS Group, Inc. (D)(G)		96
	33	Navigant Consulting, Inc. (D)(G)		444
	2	Pacer International, Inc. (G)		34
	5	Perot Systems Corp. Class A (D)		72
	17	Plexus Corp. (D)		436
	10	Premiere Global Services, Inc. (D)		149
	2	Regis Corp.		62
	20	Resources Connection, Inc.		363
	2	Scholastic Corp. (D)(G)		84
	14	Spherion Corp. (D)(G)		99
	1	Standard Parking Corp. (D)(G)		34
	13	Stewart Enterprises, Inc. (G)		114
	40	Syntel, Inc. (G)		1,533
	2	Tetra Technologies, Inc. (D)(G)		49
	25	TETRA Technologies, Inc. (D)(G)		381
	12	Unifirst Corp.		448
	78	Unisys Corp. (D)(G)		369
	3	Viad Corp. (G)		95
	4	Waste Connections, Inc. (D)(G)		136
	2	Watson Wyatt Worldwide, Inc. (G)		93
	12	Westwood One, Inc. (G)		24
				11,113
		Technology — 9.7%
	1	A.O. Smith Corp. (G)		49
	3	Actel Corp. (D)		40
	2	Actuant Corp. Class A (G)		82
	1	Acuity Brands, Inc. (G)		41
	40	American Reprographics Co. LLC (D)(G)		659
	9	AMETEK, Inc.		436
	1	Analogic Corp. (G)		41
	4	Arris Group, Inc. (D)		37
	2	AsiaInfo Holdings, Inc. (D)		19
	2	Avocent Corp. (D)(G)		49
	21	Benchmark Electronics, Inc. (D)		363
	1	Bio-Rad Laboratories, Inc. Class A (D)		124
	1	Cavium Networks Inc. (D)(G)		18
	4	Checkpoint Systems, Inc. (D)(G)		94
	33	Cincinnati Bell, Inc. (D)(G)		159
	1	CMGI, Inc. (D)(G)		7
	21	Coherent, Inc. (D)		537
	7	Consolidated Communications Holdings, Inc. (G)		131
	27	Credence Systems Corp. (D)(G)		65
	3	CSG Systems International, Inc. (D)		49
	2	Cubic Corp. (G)		78
	3	Deluxe Corp.		102
	1	DG Fastchannel, Inc. (D)(G)		33
	7	Digi International, Inc. (D)		92
	25	Electronics for Imaging, Inc. (D)(G)		558
	6	Emulex Corp. (D)(G)		96
	—	Esterline Technologies Corp. (D)		5
	5	Exar Corp. (D)(G)		39
	8	Extreme Networks, Inc. (D)(G)		27
	12	Gemstar-TV Guide International, Inc. (D)(G)		56
	46	General Communication, Inc. Class A (D)(G)		405
	1	GeoEye, Inc. (D)		20
	4	GrafTech International Ltd. (D)(G)		67
	—	Greatbatch, Inc. (D)(G)		4
	12	Harris Interactive, Inc. (D)(G)		49
	1	Infospace, Inc. (G)		19
	5	Interactive Data Corp. (G)		149
	2	Interwoven, Inc. (D)		27
	13	iPCS, Inc.		475
	1	Kemet Corp. (D)		9
	2	Littelfuse, Inc. (D)(G)		66
	10	Methode Electronics, Inc.		161
	1	Movado Group		25
	39	MSC.Software Corp. (D)(G)		500
	6	Nexstar Broadcasting Group A (D)(G)		50
	9	Palm, Inc. (G)		59
	2	Park Electrochemical Corp. (G)		42
	5	Pegasystems, Inc.		61
	4	Pericom Semiconductor Corp. (D)(G)		80
	—	Plantronics, Inc.		5
	13	Quantum Corp. (D)(G)		34
	5	RCN Corp. (G)		73
	1	Regal-Beloit Corp. (G)		40
	18	RF Micro Devices, Inc. (D)(G)		100
	20	Schwak, Inc. (G)		309
	24	Silicon Storage Technology, Inc. (D)(G)		71
	3	Skyworks Solutions, Inc. (D)(G)		27
	8	SonicWALL, Inc. (D)		89
	3	Spansion, Inc. (D)(G)		11
	2	Stoneridge, Inc. (D)		15
	—	Surewest Communications		7
	8	Sybase, Inc. (D)(G)		206
	13	Sycamore Networks, Inc. (D)(G)		48
	3	Syniverse Holdings, Inc. (D)(G)		44
	5	Technitrol, Inc. (G)		129
	1	TechTarget (D)		9
	9	Tibco Software, Inc. (D)(G)		76
	1	TTM Technologies, Inc. (D)		8
	9	United Online, Inc. (G)		108
	1	USA Mobility, Inc. (G)		20
	7	Vignette Corp. (D)		105
	3	Zoran Corp. (D)(G)		59
				7,947
		Transportation — 4.3%
	3	Atlas Air Worldwide Holdings, Inc. (D)(G)		146
	—	Eagle Bulk Shipping Inc. (G)		11
	5	Forward Air Corp. (G)		162
	—	Genco Shipping & Trading Ltd. (G)		16
	2	General Maritime Corp. (G)		44
	2	Gulfmark Offshore, Inc. (D)(G)		84
	5	Heartland Express, Inc. (G)		72
	2	Hornbeck Offshore Services, Inc. (D)(G)		103
	42	Landstar System, Inc. (G)		1,754
	2	Polaris Industries, Inc. (G)		110
	6	Republic Airways Holdings, Inc. (D)		108

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

­ ­  154  ­ ­

					Market
Shares					Value (W)
COMMON STOCK — (continued)
		Transportation — (continued)
	3	SkyWest, Inc. (G)			$	83
	10	Thor Industries, Inc. (G)				376
	12	Tsakos Energy Navigation Ltd.				452
	1	Winnebago Industries, Inc. (G)				11
						3,532
		Utilities — 1.6%
	1	Allete, Inc.				20
	2	Aquila, Inc. (D)(G)				9
	1	Black Hills Corp. (G)				48
	6	El Paso Electric Co. (D)				161
	4	IDACORP, Inc. (G)				130
	33	Pike Electric Corp. (D)(G)				536
	6	PNM Resources, Inc. (G)				131
	—	Portland General Electric Co.				11
	1	UniSource Energy Corp.				41
	8	Westar Energy, Inc. (G)				213
						1,300
		Total common stock (cost $83,968)			$	79,549
Principal
Amount
SHORT-TERM INVESTMENTS — 31.8%
		Finance — 0.5%
		Federal Home Loan Bank
$	414	3.10%, 01/02/2008			$	414
		Investment Pools and Funds — 1.6%
	—	Federated Investors Prime Obligations Fund				—
	1,348	State Street Bank Money Market Fund				1,348
						1,348
Shares
		Securities Purchased with Proceeds from Security Lending — 29.7%
		Cash Collateral Reinvestment Fund:
	24,300	Navigator Prime Portfolio				24,300	��
Principal
Amount
		Federal Home Loan Bank Collateral Securities:
		Federal Home Loan Bank
$	32	3.98%, 05/02/2008				32
	2	4.00%, 02/06/2009				2
	1	4.60%, 11/28/2008				1
						35
		Federal Home Loan Mortgage Corporation Collateral Securities:
		Federal Home Loan Mortgage Corporation
	—	4.03%, 02/04/2000				—
		Federal National Mortgage Association Collateral Securities:
		Federal National Mortgage Association
	—	3.75%, 07/25/2008				—
	—	5.00%, 10/15/2011 — 02/16/2012				—
	—	5.20%, 09/18/2012				—
						—
		U.S. Treasury Collateral Securities:
		U.S. Treasury Bond
	—	2.38%, 01/15/2027 (O)				—
		U.S. Treasury Note
	1	1.63%, 01/15/2015 (O)				1
	—	1.88%, 07/15/2015 (O)				—
	24	2.00%, 04/15/2012 (O)				26
	1	2.50%, 07/15/2016 (O)				1
						28
						24,363
		Total short-term investments (cost $26,125)			$	26,125
		Total investments (cost $110,093) (C)	128.7	%	$	105,674
		Other assets and liabilities	(28.7	)%		(23,539	)
		Total net assets	100.0	%	$	82,135

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 0.70% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $110,195 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	7,495
Unrealized Depreciation		(12,016	)
Net Unrealized Depreciation	$	(4,521	)

(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(O)	U.S. Treasury inflation-protected securities (TIPS) are securities in which the principal amount is adjusted for inflation and the semiannual interest payments equal a fixed percentage of the inflation-adjusted principal amount.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  155  ­ ­

Hartford Stock HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 99.1%
		Basic Materials — 5.0%
	192	Agrium, Inc.	$	13,897
	1,564	Alcoa, Inc.		57,153
	304	ArcelorMittal		23,545
	777	Cameco Corp.		30,928
	344	Consol Energy, Inc. (G)		24,574
	403	Freeport McMoRan Copper & Gold, Inc.		41,314
	1,865	Mitsubishi Rayon Co., Ltd. (A)(G)		8,991
	148	United States Steel Corp.		17,895
	913	Uranium One, Inc. (D)		8,166
				226,463
		Consumer Cyclical — 4.2%
	10,986	Buck Holdings L.P. (A)(D)(H)		9,887
	1,796	Kohl’s Corp. (D)		82,262
	2,763	Lowe’s Cos., Inc. (G)		62,489
	939	Supervalu, Inc. (G)		35,246
				189,884
		Consumer Staples — 5.2%
	113	Bunge Ltd. Finance Corp.		13,154
	6	Japan Tobacco, Inc. (A)		33,933
	944	PepsiCo, Inc.		71,612
	1,610	Procter & Gamble Co.		118,199
				236,898
		Energy — 9.5%
	732	Chesapeake Energy Corp. (G)		28,679
	348	ConocoPhillips Holding Co.		30,737
	713	EnCana Corp.		48,449
	1,101	Exxon Mobil Corp.		103,125
	1,051	Halliburton Co.		39,837
	1,477	OAO Gazprom ADR (G)		83,737
	1,268	Occidental Petroleum Corp.		97,646
				432,210
		Finance — 22.1%
	2,084	American International Group, Inc.		121,497
	2,748	Bank of America Corp.		113,363
	1,180	Capital One Financial Corp. (G)		55,743
	714	Citigroup, Inc.		21,032
	2,432	Countrywide Financial Corp. (G)		21,746
	3,042	Discover Financial Services (G)		45,876
	442	Federal Home Loan Mortgage Corp. (G)		15,069
	1,115	Federal National Mortgage Association		44,558
	432	Goldman Sachs Group, Inc.		92,944
	1,042	ING Groep N.V. ADR		40,560
	2,508	Invesco Ltd.		78,706
	313	Merrill Lynch & Co., Inc.		16,791
	822	Morgan Stanley		43,630
	748	State Street Corp.		60,729
	1,718	UBS AG		79,006
	1,409	UnitedHealth Group, Inc.		82,004
	2,271	Washington Mutual, Inc.		30,910
	1,899	Western Union Co.		46,112
				1,010,276
		Health Care — 14.9%
	539	Astellas Pharma, Inc. (A)		23,372
	436	AstraZeneca plc (A)		18,753
	772	Daiichi Sankyo Co., Ltd. (A)		23,763
	563	Eisai Co., Ltd. (A)		22,027
	3,261	Elan Corp. plc ADR (D)		71,683
	1,356	Eli Lilly & Co.		72,376
	718	Genentech, Inc. (D)		48,130
	1,522	Medtronic, Inc.		76,496
	994	Sanofi-Aventis S.A. ADR		45,243
	2,969	Schering-Plough Corp.		79,089
	2,429	Shionogi & Co., Ltd. (A)		43,064
	427	UCB S.A. (A)		19,373
	644	Vertex Pharmaceuticals, Inc. (D)(G)		14,951
	1,195	Walgreen Co.		45,502
	1,716	Wyeth		75,843
				679,665
		Services — 9.5%
	626	Accenture Ltd. Class A		22,566
	4,873	Comcast Corp. Class A (D)		88,972
	741	Monster Worldwide, Inc. (D)		24,021
	4,036	Time Warner, Inc.		66,629
	1,323	United Parcel Service, Inc. Class B		93,577
	1,033	Viacom, Inc. Class B (D)		45,352
	1,690	Waste Management, Inc.		55,202
	3,022	XM Satellite Radio Holdings, Inc. Class A (D)(G)		36,991
				433,310
		Technology — 27.5%
	454	Apple, Inc. (D)		89,869
	3,778	Applied Materials, Inc.		67,097
	1,126	AT&T, Inc.		46,789
	1,545	Broadcom Corp. Class A (D)		40,386
	4,559	Cisco Systems, Inc. (D)		123,412
	1,384	Corning, Inc.		33,209
	462	Electronic Arts, Inc. (D)		26,968
	3,082	Flextronics International Ltd. (D)		37,163
	6,069	General Electric Co.		224,963
	185	Google, Inc. (D)		127,924
	3,807	Intel Corp.		101,497
	618	KLA-Tencor Corp. (G)		29,768
	2,786	Maxim Integrated Products, Inc.		73,763
	1,039	MetroPCS Communications, Inc. (D)		20,214
	2,565	Network Appliance, Inc. (D)		64,017
	679	Qualcomm, Inc.		26,723
	602	SanDisk Corp. (D)(G)		19,982
	2,506	Sprint Nextel Corp. (G)		32,908
	549	Whirlpool Corp. (G)		44,847
	1,070	Yahoo!, Inc. (D)		24,881
				1,256,380
		Transportation — 0.2%
	709	Delta Air Lines, Inc. (D)		10,556
		Utilities — 1.0%
	562	Suntech Power Holdings Co., Ltd. ADR (D)		46,264
		Total common stock (cost $4,446,239)	$	4,521,906

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

­ ­  156  ­ ­

					Market
Shares					Value (W)
PREFERRED STOCK — 0.5%
		Finance — 0.5%
	938	Banco Itau Holding			$	23,969
		Total preferred stock (cost $20,580)			$	23,969
		Total long-term investments (cost $4,466,819)			$	4,545,875
SHORT-TERM INVESTMENTS — 4.2%
		Repurchase Agreements — 0.4%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $3,883, collateralized by FNMA 5.00%, 2035, value of $3,960)
$	3,882	4.50% dated 12/31/2007			$	3,882
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $35, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $36)
	35	1.35% dated 12/31/2007				35
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $10,807, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $11,020)
	10,804	4.75% dated 12/31/2007				10,804
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,524, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $1,554)
	1,524	4.60% dated 12/31/2007				1,524
						16,245
Shares
		Securities Purchased with Proceeds from Security Lending — 3.8%
		Cash Collateral Reinvestment Fund:
	157,601	Navigator Prime Portfolio				157,601
Principal
Amount
		Federal Home Loan Bank Collateral Securities:
		Federal Home Loan Bank
$	4	3.98%, 05/02/2008				4
	—	4.00%, 02/06/2009				—
	2,176	4.60%, 11/28/2008				2,177
						2,181
		Federal Home Loan Mortgage Corporation Collateral Securities:
		Federal Home Loan Mortgage Corporation
	211	4.03%, 02/04/2000				210
	4,079	4.04%, 01/25/2008				4,067
	3,649	4.13%, 11/30/2009				3,693
						7,970
		Federal National Mortgage Association Collateral Securities:
		Federal National Mortgage Association
	2,552	4.02%, 03/28/2008				2,527
		Federal National Mortgage Association
	2,006	4.06%, 03/03/2008				1,991
						4,518
						172,270
		Total short-term investments (cost $188,515)			$	188,515
		Total investments (cost $4,655,334) (C)	103.8	%	$	4,734,390
		Other assets and liabilities	(3.8	)%		(172,507	)
		Total net assets	100.0	%	$	4,561,883

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 15.54% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $4,695,952 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	415,433
Unrealized Depreciation		(376,995	)
Net Unrealized Appreciation	$	38,438

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $203,163, which represents 4.45% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(H)	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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		10,986	Buck Holdings L.P.	$	10,997

The aggregate value of these securities at December 31, 2007 was $9,887 which represents 0.22% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Euro (Sell)	$	232,565	$	233,094		03/03/08	$	529
Japanese Yen (Sell)		4,406		4,298		01/07/08		(108	)
Japanese Yen (Sell)		3,468		3,432		01/08/08		(36	)
							$	385

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  157  ­ ­

Hartford Total Return Bond HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

Principal			Market
Amount			Value (W)
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 15.1%
		Finance — 14.9%
		ACT Depositor Corp.
$	9,450	5.42%, 09/22/2041 (H)(L)	$	6,615
		Banc of America Commercial Mortgage, Inc.
	2,695	4.43%, 11/10/2039		2,664
	90,957	4.52%, 09/11/2036 (H)(P)		2,256
		Banc of America Securities Automotive Trust
	5,880	4.49%, 02/18/2013 (H)		5,872
		Bayview Commercial Asset Trust
	48,991	7.00%, 07/25/2037 (H)(P)		6,338
	80,017	7.50%, 09/25/2037 (H)(P)		11,678
		Bayview Financial Acquisition Trust
	4,430	6.45%, 05/28/2037 (H)(L)		3,101
		Bear Stearns Commercial Mortgage Securities, Inc.
	69,427	4.07%, 07/11/2042 (H)(P)		1,932
	54,131	4.12%, 11/11/2041 (H)(P)		1,315
	128,539	5.50%, 02/11/2041 (H)(P)		2,120
	15,790	5.58%, 09/11/2041		15,631
		CBA Commercial Small Balance Commercial Mortgage
	132,713	7.00%, 07/25/2035 — 06/25/2038 (H)(P)		8,553
		Citigroup Commercial Mortgage Trust
	10,145	5.41%, 10/15/2049		10,190
		Citigroup Mortgage Loan Trust, Inc.
	—	0.00%, 01/25/2037 (A)(I)(M)		—
	40,949	5.93%, 07/25/2037 (L)		41,086
	1,387	12.00%, 01/25/2037 (I)(M)		3,025
		Commercial Mortgage Pass-Through Certificates
	15,000	5.31%, 12/10/2046		14,955
	16,101	5.96%, 06/10/2046 (L)		16,677
	14,035	6.01%, 12/10/2049 (L)		14,545
		Countrywide Asset-Backed Certificates
	1,753	5.46%, 07/25/2035		1,627
		Countrywide Home Loans, Inc.
	42,938	6.00%, 10/25/2037		42,583
		Credit Suisse Mortgage Capital Certificates
	7,816	6.02%, 06/15/2038 (L)		7,937
		Credit-Based Asset Servicing and Securitization LLC
	3,326	5.14%, 05/25/2036 (H)(L)		3,194
	4,735	5.86%, 04/25/2037		3,100
		CS First Boston Mortgage Securities Corp.
	1,835	4.51%, 07/15/2037		1,813
		CWCapital Cobalt
	14,521	5.48%, 04/15/2047		14,596
		DB Master Finance LLC
	12,470	5.78%, 06/20/2031 (I)		12,019
		First Horizon Mortgage Pass-Through Trust
	60,659	5.86%, 05/25/2037 (L)		61,097
		GE Business Loan Trust
	9,270	6.03%, 05/15/2034 (H)(L)		8,206
	285,821	6.14%, 05/15/2034 (H)(P)		2,315
		Goldman Sachs Mortgage Securities Corp. II
	159,711	4.38%, 08/10/2038 (H)(P)		1,278
		Green Tree Financial Corp.
	1,433	7.24%, 06/15/2028		1,501
		Greenwich Capital Commercial Funding Corp.
	22,360	5.60%, 12/10/2049		22,587
		Home Equity Asset Trust
	7,575	5.82%, 07/25/2037 (H)(L)		2,531
		JP Morgan Automotive Receivable Trust
	1,675	12.85%, 03/15/2012 (A)(H)		1,417
		JP Morgan Chase Commercial Mortgage Security Corp.
	13,714	4.16%, 01/12/2039 (I)		13,279
	630,354	4.82%, 08/12/2037 (H)(P)		2,024
	21,450	5.00%, 10/15/2042 (L)		20,508
	463,055	5.42%, 05/12/2045 (H)(P)		10,026
	20,090	5.54%, 12/12/2043 (L)		18,517
	4,620	6.40%, 02/12/2051 (I)(L)		4,400
		LB-UBS Commercial Mortgage Trust
	18,200	5.22%, 02/15/2031 (L)		17,663
	14,725	5.41%, 09/15/2039 (L)#		14,412
	4,750	5.45%, 11/15/2038 (L)		4,411
	11,890	5.48%, 11/15/2038 (L)		10,918
		Lehman Brothers Small Balance Commercial
	5,818	5.52%, 09/25/2030 (I)		5,763
	5,180	5.62%, 09/25/2036 (I)		5,212
		Marlin Leasing Receivables LLC
	13,390	5.33%, 09/16/2013 (I)		13,497
		Merrill Lynch Mortgage Trust
	61,392	3.96%, 10/12/2041 (H)(P)		1,551
	231,369	4.57%, 06/12/2043 (H)(P)		5,305
		Merrill Lynch/Countrywide Commercial Mortgage Trust
	21,500	5.20%, 12/12/2049		20,758
	9,920	6.10%, 06/12/2046 (L)		10,354
		Morgan Stanley Automotive Loan Trust
	1	5.00%, 03/15/2012 (I)		1
		Morgan Stanley Dean Witter Capital I
	23,227	0.46%, 08/25/2032 (H)(P)		2
	21,470	6.08%, 06/11/2049 (L)		21,805
		Nationstar Home Equity Loan Trust
	1,517	9.97%, 03/25/2037 (H)(L)		1,495
		Option One Mortgage Loan Trust — Class M6
	3,875	6.99%, 03/25/2037 (H)		1,060
		Option One Mortgage Loan Trust — Class M7
	2,575	6.99%, 03/25/2037 (H)		644
		Option One Mortgage Loan Trust — Class M8
	2,525	6.99%, 03/25/2037 (H)		505
		Popular ABS Mortgage Pass-Through Trust
	3,775	4.75%, 12/25/2034		3,673
	3,180	5.42%, 04/25/2035		2,836

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

­ ­  158  ­ ­

Principal			Market
Amount			Value (W)
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — (continued)
		Finance — (continued)
		Renaissance Home Equity Loan Trust
$	4,670	5.36%, 05/25/2035 (H)	$	4,113
	6,480	5.75%, 05/25/2036 (H)(L)		5,994
	2,800	7.50%, 04/25/2037 (H)		1,772
		Renaissance Home Equity Loan Trust Class M5
	4,300	7.00%, 09/25/2037 (H)		2,795
		Renaissance Home Equity Loan Trust Class M8
	5,375	7.00%, 09/25/2037 (H)		2,419
		Soundview NIM Trust
	950	6.41%, 12/25/2036 (H)		760
		Swift Master Automotive Receivables Trust
	17,050	5.68%, 10/15/2012 (L)		16,962
		Wachovia Bank Commercial Mortgage Trust
	55,509	3.65%, 02/15/2041 (H)(P)		1,205
	1,835	4.52%, 05/15/2044		1,811
	21,589	5.25%, 12/15/2043		21,550
	2,089,803	10.00%, 02/15/2051 (H)(P)		3,448
		Wachovia Bank Commercial Mortgage Trust Class A2
	6,930	5.42%, 01/15/2045		6,982
		Wachovia Bank Commercial Mortgage Trust Class A4
	15,000	5.42%, 01/15/2045 (L)		15,078
		Wamu Commercial Mortgage Securities Trust
	19,570	6.31%, 03/23/2045 (H)(L)		17,001
				668,863
		Transportation — 0.2%
		Continental Airlines, Inc.
	4,524	6.70%, 06/15/2021 #		4,535
	4,513	8.05%, 11/01/2020 #		4,806
				9,341
		Total asset & commercial mortgage backed securities (cost $701,872)	$	678,204
CORPORATE BONDS: INVESTMENT GRADE — 24.1%
		Basic Materials — 0.9%
		Kimberly-Clark Corp.
$	17,207	6.63%, 08/01/2037 #	$	19,045
		Rohm & Haas Holdings
	8,419	5.60%, 03/15/2013 #		8,748
		Vulcan Materials Co.
	5,885	5.60%, 11/30/2012		5,918
		Westvaco Corp.
	4,975	7.95%, 02/15/2031 #		5,269
				38,980
		Capital Goods — 0.4%
		Embraer Overseas Ltd.
	4,600	6.38%, 01/24/2017		4,365
		Tyco International Group S.A.
	5,710	6.00%, 10/01/2012 (I)		5,851
	5,995	6.55%, 10/01/2017 (I)		6,166
				16,382
		Consumer Cyclical — 0.9%
		J. C. Penney Co., Inc.
	4,788	6.38%, 10/15/2036		4,279
		Lowe’s Companies, Inc.
	4,731	5.60%, 09/15/2012 #		4,859
		Ltd. Brands, Inc.
	11,303	6.90%, 07/15/2017 #		10,921
		Target Corp.
	9,041	6.50%, 10/15/2037 (G)		9,087
		Tesco plc
	11,806	5.50%, 11/15/2017 (I)		11,775
				40,921
		Consumer Staples — 0.7%
		Anheuser-Busch Cos., Inc.
	6,483	5.50%, 01/15/2018		6,618
		Diageo Finance B.V.
	11,414	5.50%, 04/01/2013 (G)		11,580
		General Mills, Inc.
	14,448	5.65%, 09/10/2012 (G)		14,684
				32,882
		Energy — 1.5%
		Canadian National Resources Ltd.
	1,689	6.25%, 03/15/2038 #		1,650
	10,165	6.50%, 02/15/2037		10,188
		Consumers Energy Co.
	4,000	5.15%, 02/15/2017 #		3,849
	5,190	5.38%, 04/15/2013 #		5,176
		Enterprise Products Operating L.P.
	6,935	4.63%, 10/15/2009 #		6,924
		Husky Oil Co.
	220	8.90%, 08/15/2028 #		222
		Petro-Canada
	12,815	5.95%, 05/15/2035 (G)		12,358
		Ras Laffan Liquefied Natural Gas Co., Ltd.
	1,855	3.44%, 09/15/2009 (I)#		1,852
	16,410	5.30%, 09/30/2020 (I)#		15,927
		Sempra Energy
	3,435	6.00%, 02/01/2013 #		3,549
		TNK-BP Finance S.A.
	3,410	7.50%, 07/18/2016 (I)#		3,303
	4,000	7.50%, 03/13/2013 (I)		3,990
				68,988
		Finance — 12.0%
		ABX Financing Co.
	10,013	6.35%, 10/15/2036 (I)#		9,807
		American Capital Strategies Ltd.
	10,577	6.85%, 08/01/2012 #		10,660
		American Express Credit Corp.
	9,727	5.55%, 10/17/2012		9,898
	9,066	6.15%, 08/28/2017 #		9,304
	9,976	6.80%, 09/01/2066 (G)		10,115
		American International Group, Inc.
	4,430	6.25%, 03/15/2037 (G)		3,962

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

­ ­  159  ­ ­

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal			Market
Amount (B)			Value (W)
CORPORATE BONDS: INVESTMENT GRADE — (continued)
		Finance — (continued)
		Americo Life, Inc.
$	75	7.88%, 05/01/2013 (H)	$	77
		Amvescap plc
	18,030	4.50%, 12/15/2009 #		17,791
	3,544	5.38%, 02/27/2013 #		3,394
		Army Hawaii Family Housing Trust Certificates
	5,370	5.52%, 06/15/2050 (I)#		5,149
		Axa S.A.
	29,881	6.46%, 12/14/2049 (I)(L)#		26,907
		BAE Systems Holdings, Inc.
	9,535	5.20%, 08/15/2015 (I)#		9,259
		Bank of New York Institutional Capital Trust
	200	7.78%, 12/01/2026 (I)#		207
		BB&T Capital Trust IV
	17,052	6.82%, 06/12/2057 (G)(L)		16,042
		Capital One Capital III
	9,825	7.69%, 08/15/2036 (H)		7,989
		Centura Capital Trust I
	250	8.85%, 06/01/2027 (H)		261
		CIT Group, Inc.
	10,860	6.10%, 03/15/2067 (G)(L)#		7,885
		Citigroup Inc.
	21,829	8.30%, 12/21/2057 (L)		22,794
		Comerica Capital Trust II
	14,553	6.58%, 02/20/2037 (L)#		11,624
		Corporacion Andina De Fomento
	8,420	5.75%, 01/12/2017 (H)#		8,336
		Countrywide Financial Corp.
	345	4.50%, 06/15/2010 #		251
	16,996	5.80%, 06/07/2012		12,416
		Countrywide Home Loans, Inc.
	750	4.00%, 03/22/2011 (G)		542
	699	4.13%, 09/15/2009 (G)		513
	1,260	6.25%, 04/15/2009		981
		Credit Agricole
	29,611	6.64%, 05/31/2049 (I)(L)#		27,472
		Credit Suisse First Boston USA, Inc.
	3,105	6.50%, 01/15/2012 #		3,273
		Depfa ACS bank
JPY	4,310,000	1.65%, 12/20/2016		37,803
		Duke Realty L.P.
	6,977	5.95%, 02/15/2017 #		6,754
		ERAC USA Finance Co.
	7,300	5.60%, 05/01/2015 (I)#		6,942
		ERP Operating L.P.
	4,517	5.75%, 06/15/2017 #		4,301
		General Electric Capital Corp.
	18,350	6.37%, 11/15/2067 (L)		18,946
		Goldman Sachs Capital Trust II
	17,925	5.79%, 12/29/2049 (L)#		15,959
		Janus Capital Group, Inc.
	18,425	6.70%, 06/15/2017 (H)		18,976
		John Deere Capital Corp.
	15,658	4.95%, 12/17/2012		15,679
		Lincoln National Corp.
	22,880	6.05%, 04/20/2067		21,360
		Mellon Capital IV
	7,514	6.24%, 06/20/2049 (L)#		6,974
		Metlife, Inc.
	12,829	6.40%, 12/15/2036 (G)		11,758
		MUFG Capital Finance I Ltd.
	10,500	��  6.35%, 07/25/2049 (L)#		9,945
		North Street Referenced Linked Notes
	3,900	6.03%, 07/30/2010 (H)(L)		3,042
		Northgroup Preferred Capital Corp.
	11,208	6.38%, 10/15/2049 (H)(L)		9,903
		PNC Preferred Funding Trust II
	9,800	6.11%, 03/15/2049 (H)(L)		8,616
		Progressive Corp.
	14,845	6.70%, 06/15/2037 (L)#		13,782
		Prudential Holdings LLC
	200	7.25%, 12/18/2023 (I)#		228
		Regional Diversified Funding
	96	9.25%, 03/15/2030 (I)#		111
		Regions Financing Trust II
	10,039	6.63%, 05/15/2047 #		8,296
		Simon Property Group, Inc.
	10,700	7.88%, 03/15/2016 (I)#		11,822
		SMFG Preferred Capital
	16,392	6.08%, 12/01/2049 (I)(L)#		15,101
		Unicredito Luxembourg Finance S.A.
	17,930	6.00%, 10/31/2017 (I)		17,753
		US Bank Realty Corp.
	13,200	6.09%, 12/22/2049 (I)(L)#		11,727
		Washington Mutual Preferred Funding
	7,400	9.75%, 10/29/2049 (I)(L)		5,920
		Westfield Group
	9,076	5.70%, 10/01/2016 (I)#		8,681
		ZFS Finance USA Trust I
	12,670	6.50%, 05/09/2037 (I)(L)		11,697
				538,985
		Foreign Governments — 0.2%
		Canadian Government
CAD	200	9.00%, 03/01/2011		233
		El Salvador (Republic of)
	2,330	8.50%, 07/25/2011 (T)#		2,540
		Italy (Republic of)
AUD	300	5.88%, 08/14/2008		261
		Russian Federation
	5,128	8.25%, 03/31/2010 (T)		5,316
				8,350
		Health Care — 0.6%
		Covidien International
	6,838	5.45%, 10/15/2012 (I)		7,041
		CVS Caremark Corp.
	18,166	6.30%, 06/01/2037 (L)#		17,558
				24,599
		Services — 1.8%
		Clear Channel Communications, Inc.
	8,890	7.65%, 09/15/2010		9,132
		Comcast Corp.
	7,763	6.30%, 11/15/2017 #		8,054
	100	10.63%, 07/15/2012 #		119
		COX Communications, Inc.
	10,240	5.45%, 12/15/2014 #		10,036
	7,758	5.88%, 12/01/2016 (I)#		7,712

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

­ ­  160  ­ ­

Principal			Market
Amount (B)			Value (W)
CORPORATE BONDS: INVESTMENT GRADE — (continued)
		Services — (continued)
		Electronic Data Systems Corp.
$	2,350	3.88%, 07/15/2023 (X)#	$	2,335
		International Bank for Reconstruction and Development
TRY	5,650	13.63%, 05/09/2017		4,804
		Marriott International, Inc.
	9,625	6.20%, 06/15/2016 (G)		9,732
		Mashantucket Western Pequot Revenue Bond
	4,709	5.91%, 09/01/2021 (H)		4,492
		Time Warner Entertainment Co., L.P.
	15,075	8.38%, 07/15/2033 #		18,159
		Time Warner, Inc.
	5,120	6.50%, 11/15/2036		4,982
		Viacom, Inc.
	2,850	6.25%, 04/30/2016		2,867
				82,424
		Technology — 2.5%
		Agilent Technologies, Inc.
	9,954	6.50%, 11/01/2017		10,112
		AT&T Corp.
	7,672	8.00%, 11/15/2031 #		9,422
		AT&T, Inc.
	11,419	4.95%, 01/15/2013		11,480
		British Telecommunications plc
	17,973	5.15%, 01/15/2013		17,934
		Cingular Wireless Services, Inc.
	12,600	8.75%, 03/01/2031 #		16,329
		Comcast Cable Communications, Inc.
	500	8.50%, 05/01/2027 #		602
		GTE Corp.
	165	8.75%, 11/01/2021 #		202
		Sprint Capital Corp.
	10,300	8.75%, 03/15/2032		11,610
		TCI Communications, Inc.
	4,025	8.75%, 08/01/2015 #		4,682
		Telecom Italia Capital
	8,515	7.20%, 07/18/2036 (G)		9,388
		Tele-Communications, Inc.
	7,975	7.88%, 08/01/2013 #		8,740
		Verizon Maryland, Inc.
	1,500	8.30%, 08/01/2031 #		1,790
		Verizon Virginia, Inc.
	125	4.63%, 03/15/2013 #		121
		Vodafone Group plc
	10,479	6.15%, 02/27/2037 (G)		10,349
				112,761
		Transportation — 0.4%
		American Airlines, Inc.
	5,696	7.86%, 10/01/2011 #		5,979
		CSX Corp.
	10,875	6.75%, 03/15/2011 (G)		11,412
				17,391
		Utilities — 2.2%
		CenterPoint Energy Resources Corp.
	2,763	6.63%, 11/01/2037		2,785
		CenterPoint Energy, Inc.
	7,475	6.85%, 06/01/2015 (G)		7,835
		Detroit Edison Co.
	3,875	6.13%, 10/01/2010 #		4,018
		Florida Power Corp.
	4,481	5.80%, 09/15/2017 (G)		4,654
		Kinder Morgan Energy Partners L.P.
	4,720	6.50%, 02/01/2037 #		4,665
		NGPL Pipeco LLC
	21,050	6.51%, 12/15/2012 (I)		21,373
		Northern States Power Co.
	5,735	6.25%, 06/01/2036 (G)		5,960
		Peco Energy Co.
	6,130	5.95%, 10/01/2036 #		6,061
		Puget Sound Energy, Inc.
	3,190	7.96%, 02/22/2010 #		3,409
		Taqa Abu Dhabi National Energy
	13,525	5.62%, 10/25/2012 (I)		13,729
		Texas-New Mexico Power Co.
	2,483	6.13%, 06/01/2008 #		2,477
		TransCanada Pipelines Ltd.
	14,587	6.20%, 10/15/2037		14,483
		Virginia Electric & Power Co.
	6,327	5.10%, 11/30/2012		6,354
		Westar Energy, Inc.
	1,400	5.15%, 01/01/2017 #		1,343
				99,146
		Total corporate bonds: investment grade (cost $1,108,713)	$	1,081,809
CORPORATE BONDS: NON-INVESTMENT GRADE — 7.7%
		Basic Materials — 1.1%
		AK Steel Corp.
$	8,805	7.75%, 06/15/2012	$	8,849
		Evraz Group S.A.
	3,400	8.25%, 11/10/2015 (T)		3,350
		Freeport-McMoRan Copper & Gold, Inc.
	9,875	8.25%, 04/01/2015 #		10,467
		Potlatch Corp.
	12,100	13.00%, 12/01/2009 (H)(L)		13,671
		US Steel Corp
	10,221	7.00%, 02/01/2018		10,153
		Valmont Industries, Inc.
	1,215	6.88%, 05/01/2014		1,203
				47,693
		Capital Goods — 0.4%
		Bombardier, Inc.
	8,650	6.30%, 05/01/2014 (I)#		8,455
		L-3 Communications Corp.
	6,102	3.00%, 08/01/2035 (X)		7,376
				15,831
		Consumer Cyclical — 0.3%
		Aramark Corp.
	5,110	8.41%, 02/01/2015 (L)#		4,982
		Grupo Gigante S.A.
	1,900	8.75%, 04/13/2016 (T)		2,118
		K. Hovnanian Enterprises, Inc.
	3,770	6.00%, 01/15/2010 (G)		2,432

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

­ ­  161  ­ ­

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal			Market
Amount (B)			Value (W)
CORPORATE BONDS: NON-INVESTMENT GRADE — (continued)
		Consumer Cyclical — (continued)
		Parkson Retail Group Ltd.
$	3,400	7.88%, 11/14/2011	$	3,366
		Tenneco, Inc.
	1,795	8.63%, 11/15/2014 (G)		1,764
				14,662
		Consumer Staples — 0.1%
		OJSC Myronivsky Hliboproduct
	4,235	10.25%, 11/30/2011 (H)#		4,235
		Energy — 0.3%
		Chesapeake Energy Corp.
	3,876	2.75%, 11/15/2035 (X)#		4,535
		Range Resources Corp.
	7,669	7.38%, 07/15/2013		7,784
				12,319
		Finance — 2.0%
		American Real Estate Partners L.P.
	9,165	7.13%, 02/15/2013 #		8,615
		ATF Bank
	2,100	9.00%, 05/11/2016 (I)#		2,115
		Banco BMG S.A.
	3,270	9.15%, 01/15/2016 (T)		3,297
		Citigroup (JSC Severstal)
	5,610	9.25%, 04/19/2014 (T)#		5,958
		Drummond Co., Inc.
	6,555	7.38%, 02/15/2016 (G)(H)		6,080
		Ford Motor Credit Co.
	9,440	9.69%, 04/15/2012 (L)#		9,283
		General Motors Acceptance Corp.
	22,415	6.88%, 09/15/2011		19,176
		Hertz Corp.
	9,335	10.50%, 01/01/2016 (G)		9,662
		Kazkommerts International B.V.
	1,922	8.00%, 11/03/2015 (I)#		1,595
		LPL Holdings, Inc.
	2,990	10.75%, 12/15/2015 (H)		2,960
		Northern Rock plc
	3,800	5.60%, 04/30/2049 (I)		2,356
	11,290	6.59%, 06/28/2049 (G)(I)(L)		7,000
		RBS-Zero Hora Editora Journalistica
BRL	4,100	11.25%, 06/15/2017 (H)		1,969
		Residential Capital Corp.
	6,435	5.65%, 06/09/2008 (L)		5,502
		TuranAlem Finance B.V.
	1,700	7.75%, 04/25/2013 (T)		1,426
	1,430	8.50%, 02/10/2015 (T)#		1,237
				88,231
		Foreign Governments — 0.6%
		Argentina (Republic of)
	8,830	7.00%, 10/03/2015 #		7,302
		Brazil (Republic of)
BRL	6,770	10.00%, 01/01/2017		3,010
		Panama (Republic of)
	4,550	9.38%, 07/23/2012		5,301
		Sri Lanka (Republic of)
	2,700	8.25%, 10/24/2012 (I)		2,626
		Venezuela (Republic of)
	8,100	5.75%, 02/26/2016 #		6,520
				24,759
		Health Care — 0.2%
		Reable Therapeutics Finance LLC
	3,410	11.75%, 11/15/2014		3,103
		Rite Aid Corp.
	8,525	9.50%, 06/15/2017 (G)		7,054
				10,157
		Services — 0.6%
		Echostar DBS Corp.
	8,850	6.38%, 10/01/2011		8,744
		Quebecor Media, Inc.
	8,925	7.75%, 03/15/2016 (I)		8,568
		Wynn Las Vegas LLC
	3,595	6.63%, 12/01/2014		3,532
	7,880	6.63%, 12/01/2014 (I)		7,742
				28,586
		Technology — 1.7%
		Advanced Micro Devices, Inc.
	9,270	6.00%, 05/01/2015 (I)(X)#		6,593
		Canwest MediaWorks L.P.
	6,395	9.25%, 08/01/2015 (G)(I)		6,259
		Charter Communications Operating LLC
	10,190	8.00%, 04/30/2012 (I)#		9,834
		Freescale Semiconductor, Inc.
	3,920	8.87%, 12/15/2014 (L)		3,332
	4,150	10.13%, 12/15/2016 (G)		3,424
		Intelsat Bermuda Ltd.
	8,670	9.25%, 06/15/2016 #		8,713
		Level 3 Financing, Inc.
	6,950	12.25%, 03/15/2013 (G)#		7,020
		MetroPCS Wireless, Inc.
	7,980	9.25%, 11/01/2014		7,501
		Spansion LLC
	8,400	8.25%, 06/01/2013 (I)(L)#		7,560
		Vimpel Communications
	8,125	8.25%, 05/23/2016 (I)#		8,125
		Windstream Corp.
	9,220	8.63%, 08/01/2016 #		9,681
				78,042
		Transportation — 0.1%
		Bristow Group, Inc.
	6,255	7.50%, 09/15/2017 (I)#		6,286
		Roadway Corp.
	325	8.25%, 12/01/2008 #		330
				6,616
		Utilities — 0.3%
		Energipe Y Saelpa
	3,715	10.50%, 07/19/2013 (H)		4,031
		Energy Future Holdings
	5,600	10.88%, 11/01/2017 (I)		5,628

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

­ ­  162  ­ ­

Principal			Market
Amount			Value (W)
CORPORATE BONDS: NON-INVESTMENT GRADE — (continued)
		Utilities — (continued)
		Texas Competitive Electric Co.
$	5,600	10.25%, 11/01/2015 (I)	$	5,544
				15,203
		Total corporate bonds: non-investment grade (cost $366,133)	$	346,334
MUNICIPAL BONDS — 0.2%
		General Obligations — 0.2%
		Oregon School Boards Association, Taxable Pension
$	7,325	4.76%, 06/30/2028 #	$	6,738
		Housing (HFA’S, etc.) — 0.0%
		Industry Urban DA
	275	6.10%, 05/01/2024 #		281
		Total municipal bonds (cost $7,606)	$	7,019
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE (V) — 5.4%
		Basic Materials — 0.6%
		Georgia-Pacific Corp.
$	9,716	6.87%, 02/14/2013 (N)	$	9,248
		Graham Packaging Co., Inc.
	2,711	7.50%, 04/03/2014 (N)		2,599
		Huntsman International LLC
	6,358	6.62%, 04/23/2014 (N)		6,229
		ISP Chemco LLC
	1,751	6.78%, 05/31/2014 (N)		1,667
		Jarden Corp.
	7,767	7.33%, 01/24/2012 (N)		7,553
				27,296
		Consumer Cyclical — 1.0%
		Aramark Corp., Letter of Credit
	229	6.71%, 01/19/2014 (AA)(Q)		217
		Aramark Corp., Term Loan B
	3,206	6.71%, 01/19/2014 (AA)(Q)		3,046
		Delphi Corp.
	3,820	9.125%, 07/01/2008		3,802
		Ford Motor Co.
	29,319	8.00%, 12/15/2013 (N)#		27,089
		Masonite International Corp., Canadian Term Loan
	1,398	7.03%, 04/30/2010 (N)#		1,270
		Masonite International Corp., U.S. Term Loan
	1,399	7.03%, 04/30/2010 (N)#		1,268
		Oshkosh Trucking Corp.
	1,839	6.65%, 12/06/2013 (N)#		1,728
		Roundy’s Supermarkets, Inc.
	696	7.91%, 11/03/2011 (N)#		682
		William Carter Co.
	6,281	6.43%, 07/14/2012 (N)#		6,061
				45,163
		Consumer Staples — 0.1%
		Dole Food Co., Inc.
	230	7.11%, 04/12/2013 (AA)#		212
	508	7.16%, 04/12/2013 (N)#		472
	1,694	7.22%, 04/12/2013 (N)#		1,569
				2,253
		Energy — 0.0%
		Big West Oil LLC
	898	6.95%, 02/02/2015 (AA)(Q)		872
	727	7.10%, 02/02/2015 (N)#		706
				1,578
		Finance — 0.6%
		Chrysler Financial Services NA
	2,643	9.00%, 08/03/2012 (N)#		2,536
	3,600	11.40%, 08/03/2013 (N)#		3,174
		Community Health Systems, Inc.
	619	6.95%, 07/02/2014 (AA)(Q)		595
		Community Health Systems, Inc.
	9,258	7.33%, 07/02/2014 (N)(Q)		8,904
		Crescent Resources LLC
	7,670	8.03%, 09/07/2012 (N)#		6,807
		General Growth Properties, Inc.
	3,197	6.50%, 02/24/2010 (N)#		3,037
				25,053
		Health Care — 0.3%
		Carestream Health, Inc.
	5,634	7.00%, 04/12/2013 (N)#		5,169
		HCA, Inc.
	3,427	6.33%, 11/14/2012 (N)		3,248
	4,502	7.08%, 11/17/2013 (N)#		4,325
		IASIS Healthcare Capital Corp.
	2,048	7.06%, 01/15/2014 (N)		1,941
		IASIS Healthcare Capital Corp., Delayed Draw Term Loan
	705	7.15%, 03/15/2014 (N)(Q)		667
		IASIS Healthcare Capital Corp., Term Loan
	188	6.90%, 03/15/2014 (AA)		178
				15,528
		Services — 2.1%
		Cedar Fair L.P.
	2,349	7.00%, 07/21/2013 (N)#		2,220
		CSC Holdings, Inc.
	3,895	6.90%, 03/24/2013 (N)#		3,677
		Gray Television, Inc.
	3,391	6.73%, 12/31/2014 (N)		3,145
		Harrah’s Entertainment, Inc.
	17,000	6.20%, 03/05/2008 (AA)(Q)		16,490
		Idearc, Inc.
	4,035	6.33%, 11/17/2013 (N)#		3,785
	4,821	6.83%, 11/17/2014 (N)		4,581
		inVentiv Health, Inc.
	2,633	6.58%, 07/05/2014 (N)		2,482
		Metavante Corp.
	3,000	6.66%, 10/31/2014 (N)		2,917
		MGM Mirage, Inc.
	8,351	6.36%, 10/03/2011 (N)#		7,878
		R.H. Donnelley, Inc.
	6,921	6.51%, 06/30/2011 (N)#		6,691

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

­ ­  163  ­ ­

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal			Market
Amount			Value (W)
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE (V) — (continued)
		Services — (continued)
		Regal Cinemas, Inc.
$	7,289	6.33%, 10/27/2013 (N)#	$	6,893
		SunGard Data Systems, Inc.
	2,414	6.90%, 08/08/2012 (N)#		2,327
		Tribune Co.
	8,076	9.20%, 05/23/2015 (AA)(Q)		6,784
		UPC Financing Partnership
	7,053	7.13%, 12/31/2014 (N)		6,668
		Weight Watchers International, Inc.
	3,014	6.13%, 01/24/2013 (N)#		2,908
		West Corp.
	4,939	7.30%, 10/23/2013 (N)#		4,695
		WideOpenWest Finance LLC
	10,750	11.09%, 07/01/2015 (N)#		9,675
				93,816
		Technology — 0.4%
		Cincinnati Bell, Inc.
	2,337	6.74%, 08/31/2012 (N)#		2,269
		Mediacom Broadband LLC, Term Loan D1
	7,000	6.69%, 01/31/2015 (N)#		6,485
		Mediacom Broadband LLC, Term Loan D2
	5,501	6.69%, 01/31/2015 (N)		5,075
		Mediacom LLC
	2,036	6.69%, 01/31/2015 (N)#		1,889
				15,718
		Utilities — 0.3%
		Mirant North America LLC
	3,600	6.60%, 01/03/2013 (N)#		3,433
		NRG Energy, Inc.
	1,884	6.48%, 02/01/2013 (N)#		1,784
	4,080	6.58%, 06/08/2013 (N)		3,884
		Texas Competitive Electric Co.
	3,200	8.40%, 10/31/2014 (N)		3,138
		Texas Competitive Electric Holdings Co. LLC
	3,200	8.40%, 10/24/2014 (N)		3,138
				15,377
		Total senior floating rate interests: non-investment grade (cost $254,821)	$	241,782
U.S. GOVERNMENT AGENCIES — 38.0%
		Federal Home Loan Mortgage Corporation — 17.5%
		Mortgage Backed Securities:
$	14,967	5.03%, 2035 (L)#	$	14,966
	27,819	5.40%, 2037 (L)#		28,067
	4,202	5.45%, 2036 (L)#		4,218
	236,353	5.50%, 2037		235,642
	57,571	5.50%, 2018 — 2037 #		57,475
	20,545	5.50%, 2038 (Q)		20,500
	5,658	5.83%, 2036 (L)#		5,743
	160,305	6.00%, 2037		162,702
	78,067	6.00%, 2017 — 2035 #		79,385
	61,900	6.50%, 2037		63,629
	6	6.50%, 2031 — 2032 #		5
	46,684	6.50%, 2037 — 2038 (Q)		47,985
	10	7.50%, 2029 — 2031 #		10
				720,327
		Notes:
	21,000	4.10%, 2014 #		21,002
		Remic — Pac’s:
	47,165	5.00%, 2034		45,543
				786,872
		Federal National Mortgage Association — 15.9%
		Mortgage Backed Securities:
	3,610	4.67%, 2034 (L)		3,558
	9,308	4.70%, 2035 (L)		9,214
	4,083	4.71%, 2035 (L)		4,061
	7,792	4.76%, 2035 (L)		7,781
	2,919	4.81%, 2035 (L)		2,910
	23,675	4.83%, 2036 (L)		23,650
	5,032	4.86%, 2035 (L)		5,008
	3,804	4.90%, 2035 (L)		3,833
	9,846	4.94%, 2035 (L)		9,958
	280,525	5.00%, 2018 — 2034		276,536
	13,886	5.00%, 2018 #		13,920
	6,619	5.08%, 2035 (L)		6,638
	123,547	5.50%, 2013 — 2037		123,093
	37,752	5.50%, 2020 — 2034 #		37,943
	10,812	5.51%, 2036 (L)		10,870
	107,357	6.00%, 2013 — 2036		109,115
	7,419	6.00%, 2012 — 2033 #		7,570
	9,941	6.50%, 2017 — 2036		10,241
	181	6.50%, 2014 — 2032 #		188
	37,981	6.50%, 2037 (Q)		39,042
	8,595	7.00%, 2032 — 2037		8,941
	18	7.00%, 2016 — 2032 #		18
	654	7.50%, 2022 — 2031		698
	476	7.50%, 2015 — 2032 #		510
	2	8.00%, 2032		2
		Notes:
	250	5.44%, 2009 (G)(L)		248
				715,546

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

­ ­  164  ­ ­

Principal			Market
Amount			Value (W)
U.S. GOVERNMENT AGENCIES — (continued)
		Government National Mortgage Association — 3.1%
		Mortgage Backed Securities:
$	26,776	5.50%, 2033 — 2034 #	$	26,903
	49,809	6.00%, 2037		50,831
	40,031	6.00%, 2031 — 2036 #		40,934
	5,581	6.50%, 2028 — 2032		5,788
	13,730	6.50%, 2028 — 2032 #		14,238
	9	7.00%, 2031		9
	59	7.00%, 2030 — 2031 #		62
	10	8.50%, 2024 #		11
				138,776
		Other Government Agencies — 1.5%
		Small Business Administration Participation Certificates:
	21,128	5.56%, 2027		21,662
	22,750	5.57%, 2027		23,302
	21,426	5.78%, 2027 #		22,196
				67,160
		Total U.S. government agencies (cost $1,690,704)	$	1,708,354
U.S. GOVERNMENT SECURITIES — 2.9%
		Other Direct Federal Obligations — 0.3%
		Federal Home Loan Bank:
$	15,885	5.25%, 2008 #	$	15,972
		U.S. Treasury Securities — 2.6%
		U.S. Treasury Bonds:
	13,957	4.75%, 2037 (G)		14,607
	27,405	5.00%, 2037 (G)		29,869
				44,476
		U.S. Treasury Notes:
	360	3.38%, 2012 (G)		359
	640	3.63%, 2009 (G)		646
	69,950	3.88%, 2012 (G)		71,322
				72,327
				116,803
		Total U.S. government securities (cost $132,099)	$	132,775
Shares
COMMON STOCK — 0.0%
		Technology — 0.0%
	—	XO Holdings, Inc. (D)(G)(H)	$	—
		Total common stock (cost $— )	$	—
WARRANTS — 0.0%
		Technology — 0.0%
	—	XO Holdings, Inc. (D)(H)	$	—
		Total warrants (cost $— )	$	—
PREFERRED STOCK — 0.5%
		Finance — 0.5%
	340	Federal Home Loan Mortgage Corp.		8,882
	592	Federal National Mortgage Association		15,255
		Total preferred stock (cost $23,359)		24,137
		Total long-term investments (cost $4,285,307)	$	4,220,414
Principal
Amount
SHORT-TERM INVESTMENTS — 10.2%
		Finance — 6.1%
		American Express Credit Corp.
$	10,000	4.20%, 01/03/2008	$	9,996
		BNP Paribas Finance
	30,000	3.60%, 01/02/2008		29,993
		Deutsche Bank
	30,000	3.75%, 01/02/2008		29,994
		Federal Home Loan Bank
	45,000	4.33%, 01/02/2008		44,992
		Federal Home Loan Mortgage Corp.
	45,000	4.27%, 01/07/2008		44,963
		Federal National Mortgage Association
	45,000	4.28%, 01/07/2008 (G)		44,962
		Rabobank USA
	30,000	4.35%, 01/02/2008		29,993
		Societe Generale
	10,000	3.60%, 01/02/2008		9,998
		UBS Finance LLC
	30,000	4.23%, 01/02/2008		29,993
				274,884
Shares
		Investment Pools and Funds — 0.0%
	935	State Street Bank Money Market Fund		935
Principal
Amount
		Repurchase Agreements — 0.0%
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,449, collateralized by U.S. Treasury Note 3.63%, 2012, value of $1,484)
$	1,449	1.30% dated 12/31/2007		1,449
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,413, collateralized by U.S. Treasury Note 3.38% — 12.50%, 2009 — 2014, value of $1,444)
	1,413	1.25% dated 12/31/2007		1,413
		��
				2,862

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

­ ­  165  ­ ­

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

					Market
Shares					Value (W)
		Securities Purchased with Proceeds from Security Lending — 3.9%
		Cash Collateral Reinvestment Fund:
	173,748	Navigator Prime Portfolio				173,748
Principal
Amount
		U.S. Treasury Bills — 0.2%
$	8,050	2.83%, 03/13/2008 (M)(S)				8,002
		Total short-term investments (cost $460,434)			$	460,431
		Total investments (cost $4,745,741) (C)	104.1	%	$	4,680,845
		Other assets and liabilities	(4.1	)%		(185,805	)
		Total net assets	100.0	%	$	4,495,040

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 9.37% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $4,747,081 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	49,418
Unrealized Depreciation		(115,654	)
Net Unrealized Depreciation	$	(66,236	)

#	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $1,417, which represents 0.03% of total net assets.
(AA)	The interest rate disclosed for these securities represents an estimated average coupon as of December 31, 2007.
(D)	Currently non-income producing. For long-term debt securities, items identified are in default as to payment of interest and/or principal.
(G)	Security is partially on loan at December 31, 2007.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $439,503, which represents 9.78% of total net assets.
(T)	Securities contain some restrictions as to public resale. These securities comply with Regulation S, rules governing offers and sales made outside the United States without registration under the Securities Act of 1933, and are determined to be liquid. At December 31, 2007, the market value of these securities amounted to $25,242 or 0.56% of net assets.
(L)	Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2007.
(M)	The interest rate disclosed for these securities represents the effective yield on the date of acquisition.
(N)	The interest rate disclosed for these securities represents the average coupon as of December 31, 2007.
(B)	The interest rates disclosed for interest only strips represent effective yields based upon estimated future cash flows at December 31, 2007.
(Q)	The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2007 was $139,067.
(V)	Senior loans in which the Fund invests generally pay interest rates which are periodically adjusted by reference to a base short-term, floating lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the London Inter-Bank Offered Rate (LIBOR), (ii) the prime rate offered by one or more major United States Banks, or (iii) the bank’s certificate of deposit rate. Senior floating rate interests often require prepayments from excess cash flows or permit the borrower to repay at its election. The rate at which the borrower repays cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. The interest rate indicated is the rate in effect at December 31, 2007.
(X)	Convertible security.
(B)	All principal amounts are in U.S. dollars unless otherwise indicated.

AUD	— Australian Dollar
BRL	— Brazilian Real
CAD	— Canadian Dollar
JPY	— Japanese Yen
TRY	— Turkish New Lira

(H) The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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
10/2006		9,450	ACT Depositor Corp., 5.42%, 09/22/2041 - 144A	$	9,199
04/2003		75	Americo Life, Inc., 7.88%, 05/01/2013 - 144A		74
03/2005		90,957	Banc of America Commercial Mortgage, Inc., 4.52%, 09/11/2036 - 144A		2,248
08/2006		5,880	Banc of America Securities Automotive Trust, 4.49%, 02/18/2013		5,845
05/2007		48,991	Bayview Commercial Asset Trust, 7.00%, 07/25/2037 - 144A		7,001
08/2007		80,017	Bayview Commercial Asset Trust, 7.50%, 09/25/2037 - 144A		11,034
04/2007		4,430	Bayview Financial Acquisition Trust, 6.45%, 05/28/2037		4,430
10/2004		69,427	Bear Stearns Commercial Mortgage Securities, Inc., 4.07%, 07/11/2042		1,936
12/2004		54,131	Bear Stearns Commercial Mortgage Securities, Inc., 4.12%, 11/11/2041		1,319
05/2005 –		128,539	Bear Stearns Commercial Mortgage
11/2006			Securities, Inc., 5.50%, 02/11/2041 - 144A		2,638

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

­ ­  166  ­ ­

Period
Acquired	Shares/Par		Security	Cost Basis
09/2007		9,825	Capital One Capital III, 7.64%, 08/15/2036	$	9,098
04/2006 –		132,713	CBA Commercial Small Balance
08/2007			Commercial Mortgage, 7.00%, 07/25/2035 — 06/25/2038 - 144A		8,315
05/2003		250	Centura Capital Trust I, 8.85%, 06/01/2027 - 144A		261
05/2007		8,420	Corporacion Andina De Fomento, 5.75%, 01/12/2017		8,414
07/2007		3,326	Credit-Based Asset Servicing and Securitization LLC, 5.14%, 05/25/2036 - 144A		3,248
11/2006 – 06/2007		6,555	Drummond Co., Inc., 7.38%, 02/15/2016 - 144A		6,421
04/2007 – 05/2007		3,715	Energipe Y Saelpa, 10.50%, 07/19/2013 - 144A		4,138
06/2006		9,270	GE Business Loan Trust, 6.03%, 05/15/2034 - 144A		9,270
06/2006		285,821	GE Business Loan Trust, 6.14%, 05/15/2034 - 144A		2,218
07/2004		159,711	Goldman Sachs Mortgage Securities Corp. II, 4.38%, 08/10/2038 - 144A		1,239
03/2007		7,575	Home Equity Asset Trust, 5.82%, 07/25/2037		7,560
06/2007		18,425	Janus Capital Group, Inc., 6.70%, 06/15/2017		18,377
03/2007		1,675	JP Morgan Automotive Receivable Trust, 12.85%, 03/15/2012		1,675
03/2005		630,354	JP Morgan Chase Commercial Mortgage Security Corp., 4.82%, 08/12/2037		1,802
09/2006		463,055	JP Morgan Chase Commercial Mortgage Security Corp., 5.42%, 05/12/2045		9,991
10/2007		2,990	LPL Holdings, Inc., 10.75%, 12/15/2015 - 144A		3,106
07/2005		4,709	Mashantucket Western Pequot Revenue Bond, 5.91%, 09/01/2021 - 144A		4,709
11/2004		61,392	Merrill Lynch Mortgage Trust, 3.96%, 10/12/2041 - 144A		1,636
06/2005		231,369	Merrill Lynch Mortgage Trust, 4.57%, 06/12/2043		5,433
10/2005 – 08/2006		23,227	Morgan Stanley Dean Witter Capital I, 0.46%, 08/25/2032 - Reg D		326
04/2007		1,517	Nationstar Home Equity Loan Trust, 9.97%, 03/25/2037 - 144A		1,517
11/2006		3,900	North Street Referenced Linked Notes, 6.03%, 07/30/2010 - 144A		3,475
05/2007		11,208	Northgroup Preferred Capital Corp., 6.38%, 10/15/2049 - 144A		11,208
11/2006 – 12/2006		4,235	OJSC Myronivsky Hliboproduct, 10.25%, 11/30/2011 - 144A		4,248
03/2007		3,875	Option One Mortgage Loan Trust — Class M6, 6.99%, 03/25/2037		3,743
03/2007		2,575	Option One Mortgage Loan Trust — Class M7, 6.99%, 03/25/2037		2,235
03/2007		2,525	Option One Mortgage Loan Trust — Class M8, 6.99%, 03/25/2037		1,989
03/2007		9,800	PNC Preferred Funding Trust II, 6.11%, 03/15/2049 -144A		9,800
10/2001 – 11/2001		12,100	Potlatch Corp., 13.00%, 12/01/2009		12,497
10/2007		4,100	RBS-Zero Hora Editora Journalistica, 11.25%, 06/15/2017 - Reg S		2,121
03/2005		4,670	Renaissance Home Equity Loan Trust, 5.36%, 05/25/2035		4,670
03/2006		6,480	Renaissance Home Equity Loan Trust, 5.75%, 05/25/2036		6,480
03/2007		2,800	Renaissance Home Equity Loan Trust, 7.50%, 04/25/2037		2,533
08/2007		4,300	Renaissance Home Equity Loan Trust Class M5, 7.00%, 09/25/2037		3,227
08/2007		5,375	Renaissance Home Equity Loan Trust Class M8, 7.00%, 09/25/2037		2,958
02/2007		950	Soundview NIM Trust, 6.41%, 12/25/2036 - 144A		947
02/2004		55,509	Wachovia Bank Commercial Mortgage Trust, 3.65%, 02/15/2041 - 144A		1,260
08/2007		2,089,803	Wachovia Bank Commercial Mortgage Trust, 10.00%, 02/15/2051		3,503
06/2007		19,570	Wamu Commercial Mortgage Securities Trust, 6.31%, 03/23/2045 - 144A		19,495
05/2006		—	XO Holdings, Inc.		—
05/2006		—	XO Holdings, Inc. Warrants		—

	The aggregate value of these securities at December 31, 2007 was $225,478 which represents 5.02% of total net assets.
(S)	Security pledged as initial margin deposit for open futures contracts at December 31, 2007.
	Futures Contracts Outstanding at December 31, 2007

							Unrealized
	Number of				Expiration		Appreciation/
Description	Contracts*		Position		Month		(Depreciation)
2 Year U.S. Treasury Note		4,626		Long		Mar 2008	$	2,338
5 Year U.S. Treasury Note		6,013		Long		Apr 2008		1,514
10 Year U.S. Treasury Note		1,098		Long		Mar 2008		230
U.S. Long Bond		2,902		Short		Mar 2008		1,116
							$	5,198

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

DA — Development Authority

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

­ ­  167  ­ ­

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Brazilian Real (Buy)	$	9,588	$	8,661		02/29/08	$	927
Brazilian Real (Sell)		9,588		9,356		02/29/08		(232	)
Chilean Peso (Buy)		8,845		8,855		04/16/08		(10	)
Chilean Peso (Sell)		8,845		8,752		04/16/08		(93	)
Colombian Peso (Buy)		8,886		8,820		03/27/08		66
Colombian Peso (Sell)		8,886		8,799		03/27/08		(87	)
Egyptian Pound (Buy)		8,984		8,820		03/27/08		164
Egyptian Pound (Sell)		8,984		8,870		03/27/08		(114	)
Japanese Yen (Buy)		44,728		44,995		01/10/08		(267	)
Japanese Yen (Sell)		44,728		45,030		01/10/08		302
Japanese Yen (Buy)		9,554		9,434		01/15/08		120
Japanese Yen (Sell)		44,743		44,604		01/15/08		(139	)
Japanese Yen (Buy)		44,748		44,152		01/16/08		596
Japanese Yen (Sell)		44,748		44,579		01/16/08		(169	)
Mexican Peso (Buy)		8,809		8,850		04/16/08		(41	)
Mexican Peso (Sell)		8,809		8,824		04/16/08		15
Turkish New Lira (Sell)		4,877		4,721		01/29/08		(156	)
							$	882

Credit Default Swap Agreements Outstanding at December 31, 2007

											Unrealized
	Reference	Buy/Sell		Pay/Receive			Expiration		Notional		Appreciation/
CounterParty	Entity	Protection		Fixed Rate			Date		Amount		(Depreciation)
Lehman Brothers Special Financing, Inc.	Lehman ABX Index		Sell		0.32	%		07/25/45	$	14,800	$	(247	)
JP Morgan Chase Bank	Residential Capital LLC		Sell		5.75	%		09/20/08		10,500		(1,698	)
											$	(1,945	)

Interest Rate Swap Agreements Outstanding at December 31, 2007

	Payments	Payments					Unrealized
	made	received	Expiration		Notional		Appreciation/
CounterParty	by Fund	by Fund	Date		Amount		(Depreciation)
Lehman Brothers Special Financing, Inc.	5.22% Fixed	3 Month Libor		12/19/37	$	73,000	$	(1,453	)
Lehman Brothers Special Financing, Inc.	3 Month Libor	4.18% Fixed		12/18/09		588,000		2,914
Lehman Brothers Special Financing, Inc.	3 Month Libor	4.14% Fixed		12/19/09		588,000		2,438
Lehman Brothers Special Financing, Inc.	3 Month Libor	5.12% Fixed		06/11/10		43,500		143
Lehman Brothers Special Financing, Inc.	5.07% Fixed	3 Month Libor		06/11/18		10,540		(127	)
Lehman Brothers Special Financing, Inc.	5.24% Fixed	3 Month Libor		12/18/37		73,000		(1,704	)
							$	2,211

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  168  ­ ­

Hartford U.S. Government Securities HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

Principal			Market
Amount			Value (W)
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 17.1%
		Finance — 17.1%
		Ansonia CDO Ltd.
$	6,000	5.10%, 07/28/2046 (H)(L)	$	3,000
		Arbor Realty Mortgage Securities
	8,000	5.46%, 01/26/2042 (H)(L)		6,888
		Banc of America Commercial Mortgage, Inc.
	9,000	4.50%, 07/10/2043 #		8,889
	9,433	5.00%, 10/10/2045 #		9,417
		Bayview Commercial Asset Trust
	63,215	7.00%, 07/25/2037 (H)(P)		8,178
	41,748	7.50%, 09/25/2037 (H)(P)		6,093
		Bayview Financial Acquisition Trust
	1,435	7.80%, 05/28/2037 (H)(L)		646
		Bear Stearns Asset Backed Securities, Inc.
	3,990	5.96%, 05/25/2037 (L)(H)		1,316
		Bear Stearns Commercial Mortgage Securities, Inc.
	213,850	4.65%, 02/11/2041 (H)(P)		2,034
		Carrington Mortgage Loan Trust
	3,238	6.51%, 02/25/2037 (L)(H)		661
		CBA Commercial Small Balance Commercial Mortgage
	1,479	6.09%, 07/25/2039 (H)(L)		991
	1,539	6.50%, 07/25/2039 (H)(L)		800
	37,247	7.25%, 07/25/2039 (H)(P)		3,577
		Citigroup Commercial Mortgage Trust
	2,500	5.27%, 08/15/2021 (H)(L)		2,442
		Commercial Mortgage Pass-Through Certificate
	9,000	5.00%, 06/10/2044 #		8,993
	4,343	5.32%, 12/15/2020 (H)(L)		4,191
		Countrywide Alternative Loan Trust
	1,735	5.11%, 10/25/2035 (L)		1,705
		Countrywide Asset-Backed Certificates
	9,000	5.76%, 06/25/2035		7,750
	9,000	5.80%, 07/25/2034 #		8,404
		Credit Suisse Mortgage Capital Certificates
	5,991	5.83%, 09/15/2021 (I)(L)#		5,795
		CS First Boston Mortgage Securities Corp.
	9,000	4.51%, 07/15/2037 #		8,894
		Deutsche Alt-A Securities, Inc.
	16,684	5.57%, 02/25/2036 (L)#		16,782
		Greenwich Capital Commercial Funding Corp.
	9,000	5.12%, 04/10/2037 (L)		9,015
	8,000	5.48%, 11/05/2021 (I)(L)		7,687
		Indymac Index Mortgage Loan Trust
	8,751	5.11%, 06/25/2037 (L)		8,518
		Lehman XS Trust
	10,606	6.50%, 05/25/2037 (L)		10,845
		LNR CDO Ltd.
	4,400	5.15%, 05/28/2043 (H)(L)		3,146
		Marathon Real Estate CDO Ltd.
	4,000	6.27%, 05/25/2046 (H)(L)		3,239
		Merrill Lynch Floating Trust
	6,750	5.23%, 06/15/2022 (I)(L)#		6,540
		Merrill Lynch Mortgage Trust
	131,849	4.57%, 06/12/2043 (H)(P)		3,023
		Merrill Lynch/Countrywide Commercial Mortgage Trust
	9,000	5.20%, 12/12/2049		8,689
		Renaissance Home Equity Loan Trust
	7,140	7.00%, 09/25/2037 (H)		4,998
	4,455	7.50%, 04/25/2037 — 06/25/2037 (H)		2,334
		Spirit Master Funding LLC
	6,777	5.76%, 03/20/2024 (I)#		6,521
		Structured Asset Securities Corp.
	4,000	7.36%, 02/25/2037 (H)(L)		879
		Wachovia Bank Commercial Mortgage Trust
	9,000	4.52%, 05/15/2044 #		8,881
		Wamu Commercial Mortgage Securities Trust
	8,500	6.31%, 03/23/2045 (H)(L)		7,384
		Total asset & commercial mortgage backed securities (cost $232,685)	$	209,145
CORPORATE BONDS: INVESTMENT GRADE — 0.2%
		Finance — 0.2%
		North Street Referenced Linked Notes
$	2,750	6.03%, 07/30/2010 (H)(L)	$	2,145
		Total corporate bonds: investment grade (cost $2,451)	$	2,145
U.S. GOVERNMENT AGENCIES — 55.3%
		Federal Home Loan Mortgage Corporation — 12.1%
		Mortgage Backed Securities:
$	6,769	5.45%, 2036 (L)#	$	6,795
	10,456	5.49%, 2036 (L)#		10,443
	20,526	5.61%, 2036 (L)#		20,712
	7,926	5.83%, 2037 (L)		8,059
	2,506	6.00%, 2021 — 2033		2,558
	50,000	6.00%, 2038 (Q)		50,734
	4,418	6.50%, 2028 — 2037		4,552
	2,019	6.50%, 2032 #		2,088
	20	7.00%, 2029 — 2030		21
	4	7.00%, 2031 #		4
				105,966
		Remic — Pac’s:
	17,620	5.00%, 2019		17,594
	10,335	5.50%, 2016		10,509
	4,777	6.00%, 2031 #		4,828
	5,710	6.50%, 2032		5,976
	2,931	6.50%, 2028 #		3,058
				41,965
				147,931
		Federal National Mortgage Association — 22.9%
		Mortgage Backed Securities:
	12,485	4.75%, 2035 (L)#		12,467
	1,703	4.76%, 2035 (L)#		1,700
	8,334	4.83%, 2034 (L)#		8,321
	1,101	4.86%, 2035 (L)#		1,096
	2,153	4.94%, 2035 (L)#		2,178
	7,107	5.01%, 2035 (L)#		7,203
	8,269	5.07%, 2035 (L)#		8,325
	6,997	5.14%, 2035 (L)#		7,044
	7,436	5.22%, 2035 (L)#		7,471
	10,238	5.47%, 2036 (L)#		10,271
	1,126	5.50%, 2015 — 2018		1,142
	20,834	5.50%, 2016 — 2019 #		21,133
	19,249	5.53%, 2037 (L)		19,418
	23,878	5.79%, 2037 (L)		24,290
	19,967	6.00%, 2013 — 2037		20,114
	19,728	6.00%, 2013 — 2034 #		20,061
	10,292	6.00%, 2037 (L)#		10,562
	876	6.01%, 2009		882

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

­ ­  169  ­ ­

Hartford U.S. Government Securities HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal			Market
Amount			Value (W)
U.S. GOVERNMENT AGENCIES — (continued)
		Federal National Mortgage Association — (continued)
		Mortgage Backed Securities: — (continued)
$	9,535	6.50%, 2013 — 2037	$	9,804
	2,331	6.50%, 2014 — 2032 #		2,410
	77	7.50%, 2023		82
	8	8.50%, 2017 #		9
	4	9.00%, 2021		4
	1	9.00%, 2020 #		1
	7	9.75%, 2020		8
				195,996
		Notes:
	50,000	5.30%, 2012 (G)		50,592
		Remic — Pac’s:
	3,042	4.50%, 2016		3,038
	12,782	5.50%, 2014 — 2035		12,825
	14,000	5.50%, 2033 #		14,148
				30,011
		Remic — Z Bonds:
	3,466	6.50%, 2029 (R)		3,584
				280,183
		Government National Mortgage Association — 1.5%
		Mortgage Backed Securities:
	8,572	5.00%, 2034 #		8,375
	5,021	6.00%, 2033 — 2034 #		5,130
	1,330	7.00%, 2030 — 2032 #		1,411
	167	7.50%, 2027 #		178
	3	9.50%, 2020 #		3
				15,097
		Remic — Pac’s:
	3,250	6.50%, 2031		3,414
				18,511
		Other Government Agencies — 18.8%
		Small Business Administration Participation Certificates:
	3,990	4.95%, 2025		3,925
	6,146	5.12%, 2026		6,187
	4,707	5.23%, 2027		4,719
	14,903	5.31%, 2022 — 2027		15,093
	15,774	5.32%, 2027		15,992
	17,461	5.35%, 2026		17,848
	9,194	5.36%, 2026		9,321
	6,867	5.37%, 2026		6,993
	8,062	5.49%, 2027		8,218
	3,845	5.52%, 2024		3,951
	10,277	5.54%, 2026		10,549
	11,657	5.56%, 2027		11,952
	32,000	5.57%, 2027		32,777
	8,331	5.57%, 2026 #		8,569
	8,089	5.64%, 2026		8,302
	9,338	5.71%, 2027		9,643
	3,856	5.76%, 2021		3,976
	15,162	5.78%, 2021 — 2027		15,692
	16,528	5.82%, 2026 — 2027		17,164
	9,980	5.87%, 2026 #		10,391
	7,675	6.07%, 2026		8,058
				229,320
		Total U.S. government agencies (cost $667,483)	$	675,945
U.S. GOVERNMENT SECURITIES — 20.4%
		Other Direct Federal Obligations — 4.1%
		Federal Farm Credit Bank:
$	50,000	3.75%, 2010 (G)		50,138
		U.S. Treasury Securities — 16.3%
		U.S. Treasury Notes:
	6,000	0.88%, 2010 (G)(O)		6,595
	12,000	2.38%, 2017 (O)		13,119
	54,375	3.13%, 2009 (G)		54,435
	27,985	4.13%, 2012 (G)		28,814
	15,500	4.25%, 2017 (G)		15,770
	8,900	4.50%, 2017 (G)		9,225
	70,212	4.63%, 2009 — 2016 (G)		72,177
				200,135
		Total U.S. government securities (cost $246,728)	$	250,273
		Total long-term investments (cost $1,149,347)	$	1,137,508
SHORT-TERM INVESTMENTS — 35.2%
		Finance — 8.6%
		Federal Home Loan Bank
$	55,000	4.33%, 01/02/2008	$	54,990
		Federal Home Loan Mortgage Corp.
	25,000	4.27%, 01/07/2008		24,980
		Federal National Mortgage Association
	25,000	4.28%, 01/07/2008 (G)		24,979
				104,949
		Repurchase Agreements — 1.1%
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2008 in the amount of $7,094, collateralized by U.S. Treasury Note 3.63%, 2012, value of $7,265)
	7,094	1.30% dated 12/31/2007		7,094
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2008 in the amount of $6,919, collateralized by U.S. Treasury Note 3.38% — 12.50%, 2009 — 2014, value of $7,068)
	6,918	1.25% dated 12/31/2007		6,918
				14,012
Shares
		Securities Purchased with Proceeds from Security Lending — 25.3%
		Cash Collateral Reinvestment Fund:
	309,650	Navigator Prime Portfolio		309,650

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

­ ­  170  ­ ­

Principal					Market
Amount					Value (W)
		U.S. Treasury Bills — 0.2%
$	1,800	2.83%, 03/13/2008 (M)(S)				1,789
						1,789
		Total short-term investments (cost $430,400)			$	430,400
		Total investments (cost $1,579,747) (C)	128.2	%	$	1,567,908
		Other assets and liabilities	(28.2	)%		(344,886	)
		Total net assets	100.0	%	$	1,223,022

Note:  Percentage of investments as shown is the ratio of the total market value to total net assets.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $1,580,017 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	13,892
Unrealized Depreciation		(26,001	)
Net Unrealized Depreciation	$	(12,109	)

#	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
(G)	Security is partially on loan at December 31, 2007.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $26,543, which represents 2.17% of total net assets.
(L)	Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2007.
(M)	The interest rate disclosed for these securities represents the effective yield on the date of acquisition.
(O)	U.S. Treasury inflation-protected securities (TIPS) are securities in which the principal amount is adjusted for inflation and the semiannual interest payments equal a fixed percentage of the inflation-adjusted principal amount.
(P)	The interest rates disclosed for interest only strips represent effective yields based upon estimated future cash flows at December 31, 2007.
(Q)	The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2007 was $50,602.
(R)	Z-Tranche securities pay no principal or interest during their initial accrual period, but accrue additional principal at a specified coupon rate.
(S)	Security pledged as initial margin deposit for open futures contracts at December 31, 2007.
	Futures Contracts Outstanding at December 31, 2007

							Unrealized
	Number of				Expiration		Appreciation/
Description	Contracts*		Position		Month		(Depreciation)
2 Year U.S. Treasury Note		5,061		Long		Mar, 2008	$	1,342
5 Year U.S. Treasury Note		1,090		Long		Apr, 2008		485
10 Year U.S. Treasury Note		2,638		Short		Mar, 2008		(1,179	)
U.S. Long Bond		379		Short		Mar, 2008		403
							$	1,051

	* The number of contracts does not omit 000’s.
(H)	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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				Cost
Acquired	Shares/Par		Security	Basis
10/2006		6,000	Ansonia CDO Ltd., 5.10%, 07/28/2046 - 144A	$	6,000
11/2006		8,000	Arbor Realty Mortgage Securities, 5.46%, 01/26/2042 - 144A		8,000
05/2007		63,215	Bayview Commercial Asset Trust, 7.00%, 07/25/2037 - 144A		9,033
08/2007		41,748	Bayview Commercial Asset Trust, 7.50%, 09/25/2037 - 144A		5,759
04/2007		1,435	Bayview Financial Acquisition Trust, 7.80%, 05/28/2037		1,386
04/2007		3,990	Bear Stearns Asset Backed Securities, Inc., 5.96%, 05/25/2037		3,990
05/2005 – 08/2007		213,850	Bear Stearns Commercial Mortgage Securities, Inc., 4.65%, 02/11/2041		2,065
03/2007		3,238	Carrington Mortgage Loan Trust, 6.51%, 02/25/2037		3,238
05/2007		1,479	CBA Commercial Small Balance Commercial Mortgage, 6.09%, 07/25/2039 - 144A		1,479
05/2007		1,539	CBA Commercial Small Balance Commercial Mortgage, 6.50%, 07/25/2039 - 144A		1,539
05/2007		37,247	CBA Commercial Small Balance Commercial Mortgage, 7.25%, 07/25/2039 - 144A		3,381
10/2006		2,500	Citigroup Commercial Mortgage Trust, 5.27%, 08/15/2021 - 144A		2,500
10/2006		4,343	Commercial Mortgage Pass-Through Certificate, 5.32%, 12/15/2020 - 144A		4,343
11/2006		4,400	LNR CDO Ltd., 5.15%, 05/28/2043 - 144A		4,409
04/2007		4,000	Marathon Real Estate CDO Ltd., 6.27%, 05/25/2046 - 144A		3,893
06/2005		131,849	Merrill Lynch Mortgage Trust, 4.57%, 06/12/2043		3,033

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

­ ­  171  ­ ­

Hartford U.S. Government Securities HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Period				Cost
Acquired	Shares/Par		Security	Basis
11/2006		2,750	North Street Referenced Linked Notes, 6.03%, 07/30/2010 - 144A	$	2,450
08/2007		7,140	Renaissance Home Equity Loan Trust, 7.00%, 09/25/2037		5,715
03/2007 – 05/2007		4,455	Renaissance Home Equity Loan
			Trust, 7.50%, 04/25/2037–06/25/2037		4,028
03/2007		4,000	Structured Asset Securities Corp., 7.36%, 02/25/2037		3,718
06/2007		8,500	Wamu Commercial Mortgage Securities Trust, 6.31%, 03/23/2045 - 144A		8,468

The aggregate value of these securities at December 31, 2007 was $67,965 which represents 5.56% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Canadian Dollar (Buy)	$	10,936	$	11,200		01/15/08	$	(264	)
Canadian Dollar (Sell)		10,936		11,089		01/15/08		153
							$	(111	)

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  172  ­ ­

Hartford Value HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 98.5%
		Basic Materials — 5.1%
	127	Agrium, Inc.	$	9,200
	91	Dow Chemical Co.		3,579
	111	E.I. DuPont de Nemours & Co.		4,885
	50	Kimberly-Clark Corp.		3,432
	238	Smurfit-Stone Container Corp. (D)		2,509
				23,605
		Capital Goods — 1.3%
	15	Deere & Co.		1,425
	96	Trane, Inc.		4,475
				5,900
		Consumer Cyclical — 8.1%
	78	Altria Group, Inc.		5,903
	205	Gap, Inc. (G)		4,352
	234	Ingram Micro, Inc. (D)		4,218
	173	Kroger Co.		4,618
	85	Macy’s, Inc.		2,188
	98	McDonald’s Corp.		5,797
	124	Safeway, Inc. (G)		4,228
	157	Supervalu, Inc.		5,876
				37,180
		Consumer Staples — 6.3%
	60	Colgate-Palmolive Co.		4,678
	167	ConAgra Foods, Inc.		3,971
	112	Kellogg Co.		5,877
	134	PepsiCo, Inc.		10,201
	271	Tyson Foods, Inc. Class A		4,159
				28,886
		Energy — 14.9%
	92	Chevron Corp.		8,605
	66	ConocoPhillips Holding Co.		5,863
	245	Exxon Mobil Corp.		22,954
	151	Newfield Exploration Co. (D)		7,953
	231	Occidental Petroleum Corp.		17,792
	101	XTO Energy, Inc.		5,194
				68,361
		Finance — 27.7%
	130	ACE Ltd.		8,031
	90	Aetna, Inc.		5,196
	133	Allstate Corp.		6,936
	78	American International Group, Inc.		4,553
	349	Bank of America Corp.		14,383
	110	Bank of New York Mellon Corp.		5,364
	116	Chubb Corp.		6,309
	50	Citigroup, Inc.		1,466
	213	Discover Financial Services		3,217
	36	Goldman Sachs Group, Inc.		7,699
	327	Host Hotels & Resorts, Inc.		5,581
	184	JP Morgan Chase & Co.		8,021
	139	Lloyd’s TSB Group plc ADR		5,233
	131	Morgan Stanley		6,973
	84	PNC Financial Services Group, Inc.		5,534
	67	SunTrust Banks, Inc.		4,168
	78	UBS AG		3,597
	249	US Bancorp		7,894
	188	Wachovia Corp.		7,150
	48	Wellpoint, Inc. (D)		4,176
	190	Wells Fargo & Co.		5,724
				127,205
		Health Care — 6.5%
	81	Abbott Laboratories		4,543
	106	Baxter International, Inc.		6,177
	66	Bristol-Myers Squibb Co.		1,742
	279	CVS/Caremark Corp. (G)		11,090
	145	Wyeth		6,416
				29,968
		Services — 1.9%
	104	Comcast Corp. Class A (D)		1,895
	192	Sun Microsystems, Inc. (D)		3,474
	212	Time Warner, Inc.		3,504
				8,873
		Technology — 17.4%
	463	AT&T, Inc.		19,243
	220	Cisco Systems, Inc. (D)		5,950
	212	Corning, Inc.		5,093
	497	General Electric Co.		18,435
	110	Hewlett-Packard Co.		5,553
	316	Intel Corp.		8,427
	43	International Business Machines Corp.		4,637
	37	Sprint Nextel Corp.		490
	272	Verizon Communications, Inc.		11,884
				79,712
		Transportation — 2.3%
	119	General Dynamics Corp.		10,554
		Utilities — 7.0%
	70	Consolidated Edison, Inc.		3,414
	41	Entergy Corp.		4,924
	54	Exelon Corp.		4,376
	169	FPL Group, Inc.		11,448
	77	SCANA Corp.		3,233
	120	Southern Co.		4,658
				32,053
		Total common stock (cost $368,781)	$	452,297
Principal
Amount
SHORT-TERM INVESTMENTS — 5.2%
		Repurchase Agreements — 2.3%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $2,506, collateralized by FNMA 5.00%, 2035, value of $2,556)
$	2,505	4.50% dated 12/31/2007	$	2,505
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $23, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $23)
	23	1.35% dated 12/31/2007		23

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

­ ­  173  ­ ­

Hartford Value HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal					Market
Amount					Value (W)
SHORT-TERM INVESTMENTS — (continued)
		Repurchase Agreements — (continued)
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $6,974, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $7,112)
$	6,973	4.75% dated 12/31/2007			$	6,973
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $984, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $1,003)
	983	4.60% dated 12/31/2007				983
						10,484
Shares
		Securities Purchased with Proceeds from Security Lending — 2.9%
		Cash Collateral Reinvestment Fund:
	13,337	Goldman Sachs FS Prime Obligation/Institutional Fund				13,337
		Total short-term investments (cost $23,821)			$	23,821
		Total investments (cost $392,602) (C)	103.7	%	$	476,118
		Other assets and liabilities	(3.7	)%		(16,778	)
		Total net assets	100.0	%	$	459,340

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 3.93% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $393,148 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	94,510
Unrealized Depreciation		(11,540	)
Net Unrealized Appreciation	$	82,970

(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  174  ­ ­

Hartford Value Opportunities HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 98.6%
		Basic Materials — 10.0%
	202	Alcoa, Inc.	$	7,400
	263	Arch Coal, Inc. (G)		11,837
	70	Celanese Corp.		2,960
	401	Chemtura Corp.		3,124
	63	Cytec Industries, Inc.		3,861
	44	FMC Corp.		2,389
	131	Owens-Illinois, Inc. (D)		6,499
	350	Rexam plc (A)		2,912
	292	Smurfit-Stone Container Corp. (D)		3,087
	575	Uranium One, Inc. (D)		5,144
	960	USEC, Inc. (D)(G)		8,637
				57,850
		Capital Goods — 4.2%
	44	Alliant Techsystems, Inc. (D)		5,051
	111	Deere & Co.		10,318
	76	Goodrich Corp.		5,359
	92	Kennametal, Inc.		3,491
				24,219
		Consumer Cyclical — 5.8%
	106	American Axle & Manufacturing Holdings, Inc. (G)		1,983
	3,040	Buck Holdings L.P. (A)(D)(H)		2,736
	86	Copart, Inc. (D)		3,676
	726	Ford Motor Co. (D)		4,888
	274	Home Depot, Inc. (G)		7,368
	136	Liz Claiborne, Inc.		2,759
	104	MDC Holdings, Inc. (G)		3,843
	304	TRW Automotive Holdings Corp. (D)		6,354
				33,607
		Consumer Staples — 5.8%
	198	Avon Products, Inc. (G)		7,811
	176	Chaoda Modern Agriculture (A)		158
	148	Cosan Ltd. (D)		1,861
	223	Cosan S.A. Industria E Comercio		2,602
	263	Dean Foods Co.		6,793
	82	Lighthouse Caledonia ASA (D)(G)		78
	9,634	Marine Harvest (A)(D)(G)		6,143
	226	Unilever N.V. NY Shares		8,240
				33,686
		Energy — 9.7%
	630	Brasil EcoDiesel Industria (D)		2,437
	115	Exxon Mobil Corp.		10,793
	212	Newfield Exploration Co. (D)		11,192
	106	Noble Energy, Inc.		8,397
	88	Petro-Canada		4,770
	284	Talisman Energy, Inc.		5,262
	136	Total S.A. ADR		11,247
	68	UGI Corp.		1,850
				55,948
		Finance — 25.5%
	334	ACE Ltd.		20,659
	103	Aetna, Inc.		5,941
	330	AMBAC Financial Group, Inc. (G)		8,496
	119	American International Group, Inc.		6,932
	545	Bank of America Corp.		22,492
	189	Capital One Financial Corp.		8,923
	222	CIT Group, Inc.		5,330
	139	Citigroup, Inc.		4,080
	320	Countrywide Financial Corp. (G)		2,857
	997	E*Trade Financial Corp. (D)(G)		3,538
	108	Everest Re Group Ltd.		10,863
	395	Genesis Lease Ltd.		7,408
	185	Oaktree Capital (D)(I)		6,013
	370	PennantPark Investment Corp. (G)		3,711
	111	Platinum Underwriters Holdings Ltd.		3,940
	1,389	Royal Bank of Scotland Group plc (A)		12,262
	154	TD Ameritrade Holding Corp. (D)		3,091
	171	Thornburg Mortgage Asset Corp. (G)		1,579
	204	UBS AG (G)		9,386
				147,501
		Health Care — 10.6%
	227	Alkermes, Inc. (D)		3,539
	58	Astellas Pharma, Inc. (A)		2,533
	121	Bristol-Myers Squibb Co.		3,198
	226	Cooper Co., Inc.		8,603
	67	Covidien Ltd.		2,985
	672	Impax Laboratories, Inc. (D)		7,457
	82	Sanofi-Aventis S.A. (A)		7,506
	217	Sanofi-Aventis S.A. ADR		9,898
	348	Wyeth		15,360
				61,079
		Services — 8.4%
	293	Avis Budget Group, Inc. (D)		3,809
	550	BearingPoint, Inc. (D)(G)		1,555
	155	CACI International, Inc. Class A (D)(G)		6,953
	391	Comcast Corp. Class A (D)		7,145
	763	Comcast Corp. Special Class A (D)		13,824
	120	Entercom Communications Corp. (G)		1,641
	164	R.H. Donnelley Corp. (D)		5,972
	111	United Parcel Service, Inc. Class B		7,853
				48,752
		Technology — 15.1%
	175	Arrow Electronics, Inc. (D)		6,860
	152	AT&T, Inc.		6,309
	379	Cisco Systems, Inc. (D)		10,272
	314	Corning, Inc.		7,528
	216	Fairchild Semiconductor International, Inc. (D)		3,113
	551	Flextronics International Ltd. (D)		6,648
	526	JDS Uniphase Corp. (D)(G)		6,997
	272	Microsoft Corp.		9,669
	263	Qualcomm, Inc.		10,345
	230	Solar Cayman Ltd. (A)(D)(H)		3,172
	219	Sprint Nextel Corp.		2,876
	329	Symantec Corp. (D)		5,310
	250	Telefonaktiebolaget LM Ericsson ADR (G)		5,828
	138	Virgin Media, Inc.		2,365
				87,292
		Transportation — 3.5%
	177	Delta Air Lines, Inc. (D)		2,635
	981	Northwest Airlines Corp. (D)		14,237

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

­ ­  175  ­ ­

Hartford Value Opportunities HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

					Market
Shares					Value (W)
COMMON STOCK — (continued)
		Transportation — (continued)
	59	UAL Corp. (D)(G)			$	2,118
	104	US Airways Group, Inc. (D)(J)				1,528
						20,518
		Total common stock (cost $584,714)			$	570,452
PREFERRED STOCK — 0.6%
		Finance — 0.6%
	139	Thornburg Mortgage, Inc. (X)				3,326
		Total preferred stock (cost $3,493)			$	3,326
		Total long-term investments (cost $588,207)			$	573,778
Principal
Amount
SHORT-TERM INVESTMENTS — 11.9%
		Repurchase Agreements — 1.0%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,380, collateralized by FNMA 5.00%, 2035, value of $1,407)
$	1,379	4.50% dated 12/31/2007			$	1,379
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $13, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $13)
	13	1.35% dated 12/31/2007				13
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $3,839, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $3,915)
	3,838	4.75% dated 12/31/2007				3,838
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $541, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $552)
	541	4.60% dated 12/31/2007				541
						5,771
Shares
		Securities Purchased with Proceeds from Security Lending — 10.9%
		Cash Collateral Reinvestment Fund:
	63,021	Goldman Sachs FS Prime Obligation/Institutional Fund				63,021
		Total short-term investments (cost $68,792)			$	68,792
		Total investments (cost $656,999) (C)	111.1	%	$	642,570
		Other assets and liabilities	(11.1	)%		(64,009	)
		Total net assets	100.0	%	$	578,561

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 18.26% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $659,734 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	62,311
Unrealized Depreciation		(79,475	)
Net Unrealized Depreciation	$	(17,164	)

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $37,422, which represents 6.47% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $6,013, which represents 1.04% of total net assets.
(J)	Securities exempt from registration under Regulation D of the Securities Act of 1933. These securities are determined to be liquid. At December 31, 2007, the market value of these securities was $1,528, which represents 0.26% of total net assets.
(X)	Convertible security.
(H)	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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		3,040	Buck Holdings L.P.	$	3,044
03/2007		230	Solar Cayman Ltd.		3,453

The aggregate value of these securities at December 31, 2007 was $5,908 which represents 1.02% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Hong Kong Dollar (Buy)	$	55	$	55		01/02/08	$	—
Hong Kong Dollar (Buy)		54		54		01/03/08		—
							$	—

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  176  ­ ­

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­ ­  177  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Assets and Liabilities
December 31, 2007
(000’s Omitted)

	Hartford			Hartford		Hartford
	Advisers			Capital Appreciation		Disciplined Equity
	HLS Fund			HLS Fund		HLS Fund
Assets:
Investments in securities, at value; (amortized cost for Money Market) @	$	8,025,715		$	16,216,259	$	2,032,767
Cash		76,348			47,950		1,651	*
Foreign currency on deposit with custodian #		19			2,417		—
Unrealized appreciation on forward foreign currency contracts		557			241		—
Unrealized appreciation on forward bonds		—			—		—
Unrealized appreciation on swap contracts		—			—		—
Receivables:
Investment securities sold		39,627			353,249		—
Fund shares sold		1,289			5,368		501
Dividends and interest		30,947			13,537		2,240
Variation margin		—			—		—
Other assets		15			27		3
Total assets		8,174,517			16,639,048		2,037,162
Liabilities:
Unrealized depreciation on forward foreign currency contracts		152			9,106		—
Unrealized depreciation on forward bonds		—			—		—
Unrealized depreciation on swap contracts		—			—		—
Bank overdraft — U.S. Dollars		—			—		—
Bank overdraft — foreign cash		—			—		—
Payable upon return of securities loaned (Note 2d)		755,680			1,166,436		128,807	��
Payables:
Investment securities purchased		37,632			384,909		—
Fund shares redeemed		8,110			17,952		1,184
Variation margin		—			—		197
Investment management and advisory fees (Note 3)		491			1,077		149
Administrative fee		243			500		63
Distribution fees (Note 3)		45			122		14
Accrued expenses		690			1,207		132
Written options		—			—		87
Total liabilities		803,043			1,581,309		130,633
Net assets	$	7,371,474		$	15,057,739	$	1,906,529
Summary of Net Assets:
Capital stock and paid-in-capital	$	7,255,087		$	12,231,276	$	1,572,213
Accumulated undistributed (distribution in excess of) net investment income (loss)		11,397			20,323		1,453
Accumulated net realized gain (loss) on investments and foreign currency transactions		(3,804	)		1,104,869		130,446
Unrealized appreciation (depreciation) of investments and the translations of assets and liabilities denominated in foreign currency		108,794			1,701,271		202,417
Net assets	$	7,371,474		$	15,057,739	$	1,906,529
Shares authorized		9,500,000			5,000,000		3,500,000
Par value	$	0.001		$	0.001	$	0.001
Class IA: Net asset value per share	$	20.97		$	52.46	$	15.05
Shares outstanding		299,943			231,124		104,096
Net assets	$	6,291,220		$	12,123,834	$	1,566,652
Class IB: Net asset value per share	$	21.18		$	52.01	$	14.97
Shares outstanding		51,000			56,408		22,707
Net assets	$	1,080,254		$	2,933,905	$	339,877
@ Cost of securities	$	7,917,438		$	14,506,012	$	1,830,051
@ Market value of securities on loan	$	749,827		$	1,121,183	$	125,502
# Cost of foreign currency on deposit with custodian	$	18		$	2,429	$	—

†	Formerly known as Hartford Focus HLS Fund.
‡	Formerly known as Hartford Global Leaders HLS Fund.
*	Cash of $1,651 is pledged as collateral for open call options.

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

­ ­  178  ­ ­

											Hartford
Hartford		Hartford		Hartford		Hartford			Hartford		Global Financial		Hartford		Hartford
Dividend and Growth		Equity Income		Fundamental Growth		Global Advisers			Global Communications		Services		Global Growth		Global Health
HLS Fund		HLS Fund		HLS Fund†		HLS Fund			HLS Fund		HLS Fund		HLS Fund‡		HLS Fund
$	7,487,779	$	461,629	$	95,934	$	408,211		$	30,946	$	28,536	$	1,488,180	$	422,008
	1		—		—		—			2		—		5		1
	—		—		—		89			20		—		309		—
	—		—		—		1,887			—		—		—		—
	—		—		—		678			—		—		—		—
	—		—		—		—			—		—		—		—
	29,925		3,097		973		31,586			656		59		1,872		417
	4,281		89		240		229			27		3		596		258
	8,502		1,106		68		1,960			71		59		208		42
	—		—		—		155			—		—		—		—
	14		1		—		2			—		—		2		1
	7,530,502		465,922		97,215		444,797			31,722		28,657		1,491,172		422,727
	—		—		—		871			—		—		12		—
	—		—		—		876			—		—		—		—
	—		—		—		—			—		—		—		—
	—		—		—		106			—		—		—		—
	—		—		—		—			—		—		—		—
	154,323		—		2,106		8,466			1,767		400		154,562		26,452
	25,051		2,438		780		49,736			73		—		5,395		67
	5,580		262		277		336			65		26		2,300		648
	—		—		—		95			—		—		—		—
	533		46		9		35			3		3		107		42
	244		15		3		13			1		1		44		13
	62		3		1		3			1		1		12		4
	558		45		18		38			14		16		109		42
	—		—		—		—			—		—		—		—
	186,351		2,809		3,194		60,575			1,924		447		162,541		27,268
$	7,344,151	$	463,113	$	94,021	$	384,222		$	29,798	$	28,210	$	1,328,631	$	395,459
$	5,844,567	$	379,606	$	79,057	$	317,796		$	18,481	$	23,757	$	966,417	$	346,888
	6,911		1,001		145		(172	)		60		669		12		43
	119,943		23,311		9,484		5,755			3,756		1,509		37,204		899
	1,372,730		59,195		5,335		60,843			7,501		2,275		324,998		47,629
$	7,344,151	$	463,113	$	94,021	$	384,222		$	29,798	$	28,210	$	1,328,631	$	395,459
	4,000,000		800,000		800,000		1,000,000			800,000		800,000		3,400,000		800,000
$	0.001	$	0.001	$	0.001	$	0.001		$	0.001	$	0.001	$	0.001	$	0.001
$	22.35	$	14.30	$	11.10	$	13.61		$	9.74	$	9.67	$	22.42	$	15.39
	261,458		27,301		5,322		23,287			1,501		1,660		45,891		18,812
$	5,842,788	$	390,396	$	59,053	$	316,929		$	14,625	$	16,051	$	1,028,843	$	289,561
$	22.28	$	14.30	$	11.04	$	13.56		$	9.69	$	9.63	$	22.27	$	15.11
	67,395		5,086		3,168		4,964			1,566		1,262		13,464		7,010
$	1,501,363	$	72,717	$	34,968	$	67,293		$	15,173	$	12,159	$	299,788	$	105,898
$	6,115,049	$	402,434	$	90,599	$	348,053		$	23,445	$	26,262	$	1,163,185	$	374,379
$	149,141	$	—	$	2,025	$	8,243		$	1,728	$	381	$	149,688	$	25,606
$	—	$	—	$	—	$	89		$	20	$	—	$	310	$	—

­ ­  179  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Assets and Liabilities — (continued)
December 31, 2007
(000’s Omitted)

	Hartford			Hartford		Hartford
	Global Technology			Growth		Growth Opportunities
	HLS Fund			HLS Fund		HLS Fund
Assets:
Investments in securities, at value; (amortized cost for Money Market) @	$	168,209		$	624,869	$	1,843,201
Cash		1			2		373
Foreign currency on deposit with custodian #		163			—		—
Unrealized appreciation on forward foreign currency contracts		—			—		—
Unrealized appreciation on forward bonds		—			—		—
Unrealized appreciation on swap contracts		—			—		—
Receivables:
Investment securities sold		271			5,516		6,885
Fund shares sold		130			1,453		2,404
Dividends and interest		66			326		1,425
Variation margin		—			—		—
Other assets		—			1		3
Total assets		168,840			632,167		1,854,291
Liabilities:
Unrealized depreciation on forward foreign currency contracts		—			—		—
Unrealized depreciation on forward bonds		—			—		—
Unrealized depreciation on swap contracts		—			—		—
Bank overdraft — U.S. Dollars		—			—		—
Bank overdraft — foreign cash		—			—		—
Payable upon return of securities loaned (Note 2d)		16,216			48,910		150,093
Payables:
Investment securities purchased		1,613			3,736		7,488
Fund shares redeemed		363			406		3,373
Variation margin		—			—		—
Investment management and advisory fees (Note 3)		16			57		170
Administrative fee		5			19		—
Distribution fees (Note 3)		2			8		12
Accrued expenses		22			59		121
Written options		—			—		—
Total liabilities		18,237			53,195		161,257
Net assets	$	150,603		$	578,972	$	1,693,034
Summary of Net Assets:
Capital stock and paid-in-capital	$	160,801		$	476,388	$	1,371,883
Accumulated undistributed (distribution in excess of) net investment income (loss)		—			118		94
Accumulated net realized gain (loss) on investments and foreign currency transactions		(23,700	)		14,548		52,725
Unrealized appreciation (depreciation) of investments and the translations of assets and liabilities denominated in foreign currency		13,502			87,918		268,332
Net assets	$	150,603		$	578,972	$	1,693,034
Shares authorized		800,000			800,000		700,000
Par value	$	0.001		$	0.001	$	0.001
Class IA: Net asset value per share	$	6.88		$	13.39	$	32.75
Shares outstanding		15,544			29,043		43,220
Net assets	$	107,002		$	388,985	$	1,415,613
Class IB: Net asset value per share	$	6.78		$	13.18	$	32.40
Shares outstanding		6,427			14,410		8,562
Net assets	$	43,601		$	189,987	$	277,421
@ Cost of securities	$	154,707		$	536,952	$	1,574,869
@ Market value of securities on loan	$	15,662		$	47,451	$	145,854
# Cost of foreign currency on deposit with custodian	$	163		$	—	$	—

(L)	Formerly known as Hartford International Capital Appreciation HLS Fund.
*	Formerly known as Hartford Blue Chip Stock HLS Fund.

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

­ ­  180  ­ ­

Hartford			Hartford			Hartford			Hartford			Hartford			Hartford			Hartford		Hartford
High Yield			Index			International Growth			International Opportunities			International Small Company			LargeCap Growth			MidCap		MidCap Growth
HLS Fund			HLS Fund			HLS Fund(L)			HLS Fund			HLS Fund			HLS Fund*			HLS Fund		HLS Fund
$	775,668		$	1,862,614		$	1,203,064		$	2,772,026		$	508,176		$	197,874		$	3,401,142	$	66,066
	—			3			5,830			9,884			—			2			1		—
	2,591			—			6,989			751			—			—			—		—
	—			—			9			12			1			—			—		—
	—			—			—			—			—			—			—		—
	30			—			—			—			—			—			—		—
	9,292			415			4,200			28,121			4,223			—			24,650		—
	318			697			2,676			739			214			70			3,175		17
	11,768			2,418			707			1,277			457			105			2,849		28
	160			6			—			—			—			—			—		—
	7			3			1			4			1			6			6		2
	799,834			1,866,156			1,223,476			2,812,814			513,072			198,057			3,431,823		66,113
	75			—			43			300			43			—			4		—
	—			—			—			—			—			—			—		—
	—			—			—			—			—			—			—		—
	3,274			—			—			—			281			—			—		—
	—			—			—			—			1			—			—		—
	103,793			198,890			85,478			330,750			93,723			26,303			384,202		14,866
	8,809			962			7,584			34,030			441			—			23,654		—
	760			3,144			1,637			3,045			431			135			4,967		31
	—			110			—			—			—			—			—		—
	59			28			108			186			43			19			227		7
	22			55			37			81			15			—			100		—
	9			11			14			17			4			—			13		—
	78			162			71			184			50			35			220		13
	—			—			—			—			—			—			—		—
	116,879			203,362			94,972			368,592			95,032			26,492			413,387		14,917
$	682,955		$	1,662,794		$	1,128,504		$	2,444,222		$	418,040		$	171,565		$	3,018,436	$	51,196
$	734,674		$	1,327,164		$	939,548		$	2,004,621		$	391,144		$	195,182		$	2,610,661	$	50,288
	1,988			1,095			(727	)		(1,273	)		(2,493	)		76			1,433		—
	(26,262	)		(1,763	)		39,655			73,199			8,780			(28,539	)		118,476		396
	(27,445	)		336,298			150,028			367,675			20,609			4,846			287,866		512
$	682,955		$	1,662,794		$	1,128,504		$	2,444,222		$	418,040		$	171,565		$	3,018,436	$	51,196
	2,800,000			4,000,000			800,000			2,625,000			800,000			500,000			2,400,000		600,000
$	0.001		$	0.001		$	0.001		$	0.001		$	0.001		$	0.001		$	0.001	$	0.001
$	8.87		$	31.54		$	14.47		$	15.62		$	15.07		$	19.78		$	26.34	$	10.19
	51,916			44,097			54,724			129,770			20,719			8,674			103,115		5,022
$	460,243		$	1,390,827		$	791,757		$	2,027,078		$	312,269		$	171,565		$	2,716,285	$	51,196
$	8.78		$	31.40		$	14.36		$	15.78		$	14.93		$	—		$	26.08	$	—
	25,352			8,662			23,442			26,436			7,083			—			11,586		—
$	222,712		$	271,967		$	336,747		$	417,144		$	105,771		$	—		$	302,151	$	—
$	803,152		$	1,526,342		$	1,053,056		$	2,404,304		$	487,576		$	193,028		$	3,113,265	$	65,555
$	102,891		$	191,392		$	81,859		$	313,408		$	88,301		$	25,651		$	374,298	$	14,523
$	2,558		$	—		$	6,968		$	741		$	—		$	—		$	—	$	—

­ ­  181  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Assets and Liabilities — (continued)
December 31, 2007
(000’s Omitted)

	Hartford		Hartford		Hartford
	MidCap Value		Money Market		Mortgage Securities
	HLS Fund		HLS Fund		HLS Fund
Assets:
Investments in securities, at value; (amortized cost for Money Market) @	$	1,042,532	$	2,683,886	$	549,089
Cash		2,636		406		12
Foreign currency on deposit with custodian #		—		—		—
Unrealized appreciation on forward foreign currency contracts		—		—		—
Unrealized appreciation on forward bonds		—		—		—
Unrealized appreciation on swap contracts		—		—		—
Receivables:
Investment securities sold		1,149		—		63
Fund shares sold		268		4,588		194
Dividends and interest		677		4,003		2,835
Variation margin		—		—		598
Other assets		1		26		1
Total assets		1,047,263		2,692,909		552,792
Liabilities:
Unrealized depreciation on forward foreign currency contracts		—		—		—
Unrealized depreciation on forward bonds		—		—		—
Unrealized depreciation on swap contracts		—		—		—
Bank overdraft — U.S. Dollars		—		—		—
Bank overdraft — foreign cash		—		—		—
Payable upon return of securities loaned (Note 2d)		126,373		—		—
Payables:
Investment securities purchased		4,045		—		84,993
Fund shares redeemed		692		15,463		386
Variation margin		—		—		542
Investment management and advisory fees (Note 3)		86		104		19
Administrative fee		30		88		15
Distribution fees (Note 3)		12		18		5
Accrued expenses		93		136		57
Written options		—		—		—
Total liabilities		131,331		15,809		86,017
Net assets	$	915,932	$	2,677,100	$	466,775
Summary of Net Assets:
Capital stock and paid-in-capital	$	701,579	$	2,677,100	$	498,010
Accumulated undistributed (distribution in excess of) net investment income (loss)		90		—		1,345
Accumulated net realized gain (loss) on investments and foreign currency transactions		146,388		—		(22,522	)
Unrealized appreciation (depreciation) of investments and the translations of assets and liabilities denominated in foreign currency		67,875		—		(10,058	)
Net assets	$	915,932	$	2,677,100	$	466,775
Shares authorized		1,200,000		7,000,000		1,200,000
Par value	$	0.001	$	0.001	$	0.001
Class IA: Net asset value per share	$	12.34	$	1.00	$	10.57
Shares outstanding		49,875		2,224,124		33,367
Net assets	$	615,430	$	2,224,124	$	352,673
Class IB: Net asset value per share	$	12.30	$	1.00	$	10.50
Shares outstanding		24,438		452,976		10,867
Net assets	$	300,502	$	452,976	$	114,102
@ Cost of securities	$	974,657	$	2,683,886	$	559,471
@ Market value of securities on loan	$	122,456	$	—	$	—
# Cost of foreign currency on deposit with custodian	$	—	$	—	$	—

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

­ ­  182  ­ ­

Hartford			Hartford		Hartford			Hartford			Hartford			Hartford			Hartford		Hartford
Small Company			SmallCap Growth		SmallCap Value			Stock			Total Return Bond			U.S. Government Securities			Value		Value Opportunities
HLS Fund			HLS Fund		HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund		HLS Fund
$	1,976,162		$	1,074,830	$	105,674		$	4,734,390		$	4,680,845		$	1,567,908		$	476,118	$	642,570
	3,466			—		—			42			27			9			1		1,128
	—			—		—			6			3,116			2			—		140
	—			—		—			529			2,190			153			—		—
	—			—		—			—			—			—			—		—
	—			—		—			—			5,495			—			—		—
	564			958		400			36,856			90,799			81,682			353		1,928
	906			2,109		268			1,031			2,908			5,913			1,802		1,157
	1,177			656		228			3,719			37,386			9,093			868		308
	2			—		—			—			3,950			1,939			—		—
	3			2		—			9			8			1			1		1
	1,982,280			1,028,555		106,570			4,776,582			4,826,724			1,666,700			479,143		647,232
	—			—		—			144			1,308			264			—		—
	—			—		—			—			—			—			—		—
	—			—		—			—			5,229			—			—		—
	—			384		21			—			—			—			—		—
	—			—		—			—			—			—			—		—
	312,815			208,903		24,363			172,270			173,748			309,650			13,337		63,021
	2,085			178		—			35,634			144,031			131,564			5,607		4,123
	61,825			637		12			5,859			4,660			470			745		1,391
	23			—		1			—			1,995			1,538			—		—
	128			89		12			196			191			90			46		59
	55			—		—			151			147			—			15		—
	14			10		—			27			42			12			5		5
	116			77		26			418			333			90			48		72
	—			—		—			—			—			—			—		—
	377,061			210,278		24,435			214,699			331,684			443,678			19,803		68,671
$	1,605,219		$	868,277	$	82,135		$	4,561,883		$	4,495,040		$	1,223,022		$	459,340	$	578,561
$	1,444,116		$	862,798	$	86,546		$	4,496,439		$	4,568,890		$	1,209,841		$	349,910	$	604,714
	(161	)		2,211		20			5,586			12,254			54,273			811		595
	(6,811	)		767		(12	)		(19,689	)		(27,663	)		(30,194	)		25,103		(12,319	)
	168,075			2,501		(4,419	)		79,547			(58,441	)		(10,898	)		83,516		(14,429	)
$	1,605,219		$	868,277	$	82,135		$	4,561,883		$	4,495,040		$	1,223,022		$	459,340	$	578,561
	1,500,000			700,000		700,000			4,000,000			5,000,000			700,000			800,000		700,000
$	0.001		$	0.001	$	0.001		$	0.001		$	0.001		$	0.001		$	0.001	$	0.001
$	18.62		$	18.71	$	10.69		$	47.11		$	11.15		$	11.15		$	12.83	$	15.42
	69,422			34,257		7,659			82,972			310,315			82,963			25,536		29,594
$	1,292,444		$	640,853	$	81,895		$	3,909,045		$	3,458,709		$	925,088		$	327,689	$	456,402
$	18.20		$	18.66	$	10.66		$	47.00		$	11.09		$	11.10		$	12.81	$	15.35
	17,182			12,187		23			13,891			93,425			26,851			10,279		7,961
$	312,775		$	227,424	$	240		$	652,838		$	1,036,331		$	297,934		$	131,651	$	122,159
$	1,808,145		$	1,072,333	$	110,093		$	4,655,334		$	4,745,741		$	1,579,747		$	392,602	$	656,999
$	301,504		$	200,850	$	23,731		$	167,110		$	173,138		$	302,580		$	12,924	$	61,093
$	—		$	—	$	—		$	6		$	3,034		$	2		$	—	$	141

­ ­  183  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Operations
For the Year Ended December 31, 2007
(000’s Omitted)

				Hartford
	Hartford			Capital			Hartford
	Advisers			Appreciation			Disciplined Equity
	HLS Fund			HLS Fund			HLS Fund
Investment Income:
Dividends	$	79,262		$	187,945		$	30,562
Interest		141,454			14,367			2,493
Securities lending		3,254			4,144			237
Less: Foreign tax withheld		(1,835	)		(8,620	)		—
Total investment income, net		222,135			197,836			33,292
Expenses:
Investment management and advisory fees		32,359			64,244			8,965
Administrative services fees		16,074			29,821			3,807
Distribution fees — Class IB		2,976			7,248			888
Custodian fees		45			388			8
Accounting services		1,206			2,237			286
Board of Directors’ fees		158			277			35
Other expenses		1,166			2,726			304
Total expenses (before waivers and fees paid indirectly)		53,984			106,941			14,293
Expense waivers		—			—			—
Commission recapture		(412	)		(894	)		(10	)
Custodian fee offset		(28	)		(22	)		(4	)
Total waivers and fees paid indirectly		(440	)		(916	)		(14	)
Total expenses, net		53,544			106,025			14,279
Net investment income (loss)		168,591			91,811			19,013
Net Realized Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net realized gain (loss) on investments		709,379			3,045,247			154,106
Net realized gain (loss) on futures, written options and swap contracts		4,171	#		1,031	#		2,674	#
Net realized gain (loss) on foreign currency transactions		(561	)		(59,936	)		—
Net Realized Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:		712,989			2,986,342			156,780
Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net unrealized appreciation (depreciation) of investments		(348,887	)		(777,884	)		(26,578	)
Net unrealized appreciation (depreciation) of futures, written options and swap contracts		—			—			(1,015	)
Net unrealized appreciation (depreciation) on translation of other assets and liabilities in foreign currencies		516			(2,295	)		—
Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(348,371	)		(780,179	)		(27,593	)
Net Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:		364,618			2,206,163			129,187
Payment from Affiliate (See Note 3h in accompanying Notes to Financial Statements)		—			—			—
Net Increase (Decrease) in Net Assets Resulting from Operations	$	533,209		$	2,297,974		$	148,200

†	Formerly known as Hartford Focus HLS Fund.
‡	Formerly known as Hartford Global Leaders HLS Fund.
#	Realized gains on written options were $4,171, $1,031 and $933 for Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund and Hartford Disciplined Equity HLS Fund, respectively.

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

­ ­  184  ­ ­

Hartford			Hartford			Hartford			Hartford			Hartford						Hartford			Hartford
Dividend and Growth			Equity Income			Fundamental Growth			Global Advisers			Global Communications			Hartford Global Financial Services			Global Growth			Global Health
HLS Fund			HLS Fund			HLS Fund†			HLS Fund			HLS Fund			HLS Fund			HLS Fund‡			HLS Fund
$	173,730		$	14,614		$	892		$	1,831		$	508		$	1,102		$	10,449		$	4,192
	4,030			321			88			7,659			20			18			519			152
	2,621			29			14			62			45			5			740			206
	(3,251	)		(89	)		(15	)		(153	)		(60	)		(96	)		(881	)		(161	)
	177,130			14,875			979			9,399			513			1,029			10,827			4,389
	32,743			2,929			528			2,068			186			224			6,212			2,697
	14,997			976			173			740			57			69			2,512			857
	3,998			238			85			163			35			38			718			291
	5			13			4			25			6			7			38			8
	1,125			73			13			56			4			5			188			64
	140			9			2			7			1			1			24			9
	1,131			85			27			82			18			24			250			104
	54,139			4,323			832			3,141			307			368			9,942			4,030
	—			—			—			—			—			—			—			—
	(140	)		(14	)		(1	)		(12	)		—			—			(80	)		(19	)
	(5	)		—			(1	)		(5	)		—			—			(2	)		(1	)
	(145	)		(14	)		(2	)		(17	)		—			—			(82	)		(20	)
	53,994			4,309			830			3,124			307			368			9,860			4,010
	123,136			10,566			149			6,275			206			661			967			379
	612,843			25,600			10,212			27,686			3,791			1,587			155,800			47,874
	—			—			—			(134	)		—			—			—			—
	—			—			(3	)		(2,609	)		3			6			(159	)		(20	)
	612,843			25,600			10,209			24,943			3,794			1,593			155,641			47,854
	(149,327	)		(2,157	)		1,067			22,389			2,001			(4,640	)		123,106			(22,380	)
	—			—			—			(146	)		—			—			—			—
	—			—			—			2,979			(2	)		1			(7	)		(11	)
	(149,327	)		(2,157	)		1,067			25,222			1,999			(4,639	)		123,099			(22,391	)
	463,516			23,443			11,276			50,165			5,793			(3,046	)		278,740			25,463
	—			—			—			—			—			—			—			—
$	586,652		$	34,009		$	11,425		$	56,440		$	5,999		$	(2,385	)	$	279,707		$	25,842

­ ­  185  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Operations — (continued)
For the Year Ended December 31, 2007
(000’s Omitted)

	Hartford			Hartford			Hartford
	Global Technology			Growth			Growth Opportunities
	HLS Fund			HLS Fund			HLS Fund
Investment Income:
Dividends	$	828		$	4,760		$	9,472
Interest		77			457			1,523
Securities lending		23			104			981
Less: Foreign tax withheld		(23	)		(136	)		(371	)
Total investment income, net		905			5,185			11,605
Expenses:
Investment management and advisory fees		977			3,292			8,937
Administrative services fees		301			1,111			—
Distribution fees — Class IB		112			473			583
Custodian fees		13			3			226
Accounting services		23			83			—
Board of Directors’ fees		3			11			26
Other expenses		62			123			214
Total expenses (before waivers and fees paid indirectly)		1,491			5,096			9,986
Expense waivers		—			—			—
Commission recapture		(18	)		(31	)		(135	)
Custodian fee offset		(2	)		(1	)		(18	)
Total waivers and fees paid indirectly		(20	)		(32	)		(153	)
Total expenses, net		1,471			5,064			9,833
Net investment income (loss)		(566	)		121			1,772
Net Realized Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net realized gain (loss) on investments		26,727			41,610			291,568
Net realized gain (loss) on futures, written options and swap contracts		—			—			—
Net realized gain (loss) on foreign currency transactions		(19	)		28			(22	)
Net Realized Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:		26,708			41,638			291,546
Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net unrealized appreciation (depreciation) of investments		(7,409	)		43,194			81,169
Net unrealized appreciation (depreciation) of futures, written options and swap contracts		—			—			—
Net unrealized appreciation (depreciation) on translation of other assets and liabilities in foreign currencies		(2	)		—			—
Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(7,411	)		43,194			81,169
Net Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:		19,297			84,832			372,715
Payment from Affiliate (See Note 3h in accompanying Notes to Financial Statements)		—			—			—
Net Increase (Decrease) in Net Assets Resulting from Operations	$	18,731		$	84,953		$	374,487

(L)	Formerly known as Hartford International Capital Appreciation HLS Fund.
*	Formerly known as Hartford Blue Chip Stock HLS Fund.

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

­ ­  186  ­ ­

Hartford			Hartford			Hartford			Hartford			Hartford			Hartford			Hartford			Hartford
High Yield			Index			International Growth			International Opportunities			International Small Company			LargeCap Growth			MidCap			MidCap Growth
HLS Fund			HLS Fund			HLS Fund(L)			HLS Fund			HLS Fund			HLS Fund*			HLS Fund			HLS Fund
$	69		$	34,317		$	15,199		$	40,218		$	7,443		$	1,858		$	23,844		$	452
	59,766			631			1,024			2,173			246			(6	)		3,314			15
	650			204			1,120			2,932			680			38			935			35
	—			(12	)		(1,815	)		(5,857	)		(693	)		(1	)		(312	)		(3	)
	60,485			35,140			15,528			39,466			7,676			1,889			27,781			499
	3,887			1,811			5,799			10,028			2,853			1,238			14,015			435
	1,479			3,623			1,972			4,308			909			—			6,184			—
	633			715			800			987			300			—			754			—
	35			13			48			109			36			9			3			8
	111			272			148			323			68			—			464			—
	16			37			17			38			9			4			56			1
	161			300			176			417			129			39			542			21
	6,322			6,771			8,960			16,210			4,304			1,290			22,018			465
	(370	)		—			—			—			—			(398	)		—			(110	)
	—			—			(114	)		(65	)		—			—			(254	)		—
	(17	)		(9	)		(7	)		(10	)		—			—			(5	)		—
	(387	)		(9	)		(121	)		(75	)		—			(398	)		(259	)		(110	)
	5,935			6,762			8,839			16,135			4,304			892			21,759			355
	54,550			28,378			6,689			23,331			3,372			997			6,022			144
	4,233			107,102			201,653			445,416			66,277			19,595			517,497			5,342
	2,248			(948	)		—			—			—			(9	)		—			(2	)
	(155	)		—			(448	)		(942	)		(120	)		—			136			—
	6,326			106,154			201,205			444,474			66,157			19,586			517,633			5,340
	(42,094	)		(39,128	)		1,931			49,116			(31,974	)		(11,913	)		(93,635	)		504
	514			92			—			—			—			—			—			—
	158			—			9			145			(1	)		—			(6	)		—
	(41,422	)		(39,036	)		1,940			49,261			(31,975	)		(11,913	)		(93,641	)		504
	(35,096	)		67,118			203,145			493,735			34,182			7,673			423,992			5,844
	—			—			—			—			—			—			—			114
$	19,454		$	95,496		$	209,834		$	517,066		$	37,554		$	8,670		$	430,014		$	6,102

­ ­  187  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Operations — (continued)
For the Year Ended December 31, 2007
(000’s Omitted)

	Hartford			Hartford			Hartford
	MidCap Value			Money Market			Mortgage Securities
	HLS Fund			HLS Fund			HLS Fund
Investment Income:
Dividends	$	13,991		$	—		$	—
Interest		488			119,143			28,343
Securities lending		352			—			—
Less: Foreign tax withheld		(427	)		—			—
Total investment income, net		14,404			119,143			28,343
Expenses:
Investment management and advisory fees		6,050			5,525			1,270
Administrative services fees		2,181			4,538			1,016
Distribution fees — Class IB		912			970			317
Custodian fees		9			3			1
Accounting services		164			340			76
Board of Directors’ fees		21			38			11
Other expenses		223			324			90
Total expenses (before waivers and fees paid indirectly)		9,560			11,738			2,781
Expense waivers		—			(1,134	)		—
Commission recapture		(50	)		—			—
Custodian fee offset		(1	)		(2	)		(3	)
Total waivers and fees paid indirectly		(51	)		(1,136	)		(3	)
Total expenses, net		9,509			10,602			2,778
Net investment income (loss)		4,895			108,541			25,565
Net Realized Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net realized gain (loss) on investments		149,440			52			(1,501	)
Net realized gain (loss) on futures, written options and swap contracts		—			—			(77	)
Net realized gain (loss) on foreign currency transactions		14			—			—
Net Realized Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:		149,454			52			(1,578	)
Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net unrealized appreciation (depreciation) of investments		(117,135	)		—			(7,667	)
Net unrealized appreciation (depreciation) of futures, written options and swap contracts		—			—			63
Net unrealized appreciation (depreciation) on translation of other assets and liabilities in foreign currencies		1			—			—
Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(117,134	)		—			(7,604	)
Net Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:		32,320			52			(9,182	)
Payment from Affiliate (See Note 3h in accompanying Notes to Financial Statements)		—			—			—
Net Increase (Decrease) in Net Assets Resulting from Operations	$	37,215		$	108,593		$	16,383

# Realized gains on written options were $785.

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

­ ­  188  ­ ­

Hartford			Hartford			Hartford			Hartford			Hartford			Hartford			Hartford			Hartford
Small Company			SmallCap Growth			SmallCap Value			Stock			Total Return Bond			U.S. Government Securities			Value			Value Opportunities
HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund
$	7,577		$	7,601		$	1,879		$	74,982		$	—		$	—		$	9,669		$	12,722
	1,677			976			173			1,069			246,760			59,211			354			350
	1,796			2,700			129			1,047			1,271			470			36			367
	(299	)		—			(3	)		(1,692	)		—			—			(42	)		(704	)
	10,751			11,277			2,178			75,406			248,031			59,681			10,017			12,735
	7,423			5,969			855			13,088			11,203			5,061			2,685			4,254
	3,172			—			—			10,120			8,613			—			891			—
	827			650			—			1,826			2,629			735			362			399
	51			23			4			70			58			10			8			11
	238			—			—			759			646			—			67			—
	29			20			2			95			79			21			9			14
	264			181			79			786			671			184			80			126
	12,004			6,843			940			26,744			23,899			6,011			4,102			4,804
	—			—			—			—			—			—			—			—
	(133	)		(9	)		—			(382	)		—			—			(12	)		(21	)
	(8	)		(9	)		(3	)		(26	)		(21	)		(1	)		(1	)		(4	)
	(141	)		(18	)		(3	)		(408	)		(21	)		(1	)		(13	)		(25	)
	11,863			6,825			937			26,336			23,878			6,010			4,089			4,779
	(1,112	)		4,452			1,241			49,070			224,153			53,671			5,928			7,956
	177,327			69,608			8,643			590,830			(13,488	)		2,618			29,037			68,319
	(1,042	)		250			(17	)		785	#		28,428			(1,423	)		—			—
	(134	)		—			—			(521	)		13,865			(6	)		—			20
	176,151			69,858			8,626			591,094			28,805			1,189			29,037			68,339
	26,302			(86,288	)		(13,225	)		(328,506	)		(67,874	)		(8,874	)		2,032			(113,648	)
	53			7			(10	)		—			4,752			1,779			—			—
	5			—			—			491			4,268			(110	)		—			—
	26,360			(86,281	)		(13,235	)		(328,015	)		(58,854	)		(7,205	)		2,032			(113,648	)
	202,511			(14,613	)		(4,609	)		263,079			(30,049	)		(6,016	)		31,069			(45,309	)
	3,000			—			—			—			—			—			—			—
$	204,399		$	(11,971	)	$	(3,368	)	$	312,149		$	194,104		$	47,655		$	36,997		$	(37,353	)

­ ­  189  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Changes in Net Assets

(000’s Omitted)

	Hartford						Hartford
	Advisers HLS Fund						Capital Appreciation HLS Fund
	For the			For the			For the			For the
	Year Ended			Year Ended			Year Ended			Year Ended
	December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006
Operations:
Net investment income (loss)	$	168,591		$	194,320		$	91,811		$	110,029
Net realized gain (loss) on investments, futures, options and swap contracts and foreign currency transactions		712,989			734,695			2,986,342			1,770,577
Net unrealized appreciation (depreciation) of investments, futures, options and swap contracts and foreign currency transactions		(348,371	)		(64,033	)		(780,179	)		286,363
Payment from (to) affiliate		—			6,804			—			11,567
Net increase (decrease) in net assets resulting from operations		533,209			871,786			2,297,974			2,178,536
Distributions to Shareholders:
From net investment income
Class IA		(142,547	)		(166,222	)		(14,174	)		(151,317	)
Class IB		(21,144	)		(25,557	)		(1,723	)		(29,396	)
From net realized gain on investments
Class IA		(690,218	)		(516,571	)		(1,956,055	)		(1,436,633	)
Class IB		(118,127	)		(89,064	)		(475,949	)		(347,480	)
Total distributions		(972,036	)		(797,414	)		(2,447,901	)		(1,964,826	)
Capital Share Transactions:
Class IA
Sold		139,185			173,052			633,897			793,724
Issued on in-kind transactions		—			—			—			—
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		832,765			682,793			1,970,229			1,587,950
Redeemed		(1,512,219	)		(1,869,501	)		(2,115,211	)		(2,124,483	)
Total capital share transactions		(540,269	)		(1,013,656	)		488,915			257,191
Class IB
Sold		49,742			24,003			345,742			106,902
Issued on reinvestment of distributions		139,271			114,621			477,672			376,875
Redeemed		(298,662	)		(262,691	)		(662,081	)		(508,433	)
Total capital share transactions		(109,649	)		(124,067	)		161,333			(24,656	)
Net increase (decrease) from capital share transactions		(649,918	)		(1,137,723	)		650,248			232,535
Net increase (decrease) in net assets		(1,088,745	)		(1,063,351	)		500,321			446,245
Net Assets:
Beginning of period		8,460,219			9,523,570			14,557,418			14,111,173
End of period	$	7,371,474		$	8,460,219		$	15,057,739		$	14,557,418
Accumulated undistributed (distribution in excess of) net investment income	$	11,397		$	7,195		$	20,323		$	(2,872	)
Shares:
Class IA
Sold		5,936			7,509			11,027			14,540
Issued on in-kind transactions		—			—			—			—
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		39,579			30,245			37,635			30,179
Redeemed		(64,513	)		(80,891	)		(37,156	)		(38,693	)
Total share activity		(18,998	)		(43,137	)		11,506			6,026
Class IB
Sold		2,106			1,030			6,042			1,959
Issued on reinvestment of distributions		6,552			5,036			9,201			7,203
Redeemed		(12,626	)		(11,296	)		(11,659	)		(9,300	)
Total share activity		(3,968	)		(5,230	)		3,584			(138	)

† Formerly known as Hartford Focus HLS Fund.

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

­ ­  190  ­ ­

Hartford						Hartford						Hartford						Hartford
Disciplined Equity HLS Fund						Dividend and Growth HLS Fund						Equity Income HLS Fund						Fundamental Growth HLS Fund†
For the			For the			For the			For the			For the			For the			For the			For the
Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006
$	19,013		$	17,476		$	123,136		$	115,794		$	10,566		$	8,383		$	149		$	589
	156,780			46,373			612,843			538,273			25,600			17,190			10,209			6,721
	(27,593	)		121,133			(149,327	)		599,277			(2,157	)		46,269			1,067			25
	—			605			—			4,254			—			—			—			110
	148,200			185,587			586,652			1,257,598			34,009			71,842			11,425			7,445
	(15,927	)		(14,696	)		(97,796	)		(93,362	)		(8,356	)		(6,424	)		(25	)		(398	)
	(2,623	)		(2,529	)		(21,463	)		(22,067	)		(1,370	)		(1,572	)		(18	)		(168	)
	(5,290	)		—			(454,662	)		(395,906	)		(15,712	)		(587	)		(4,412	)		(3,809	)
	(1,160	)		—			(119,019	)		(113,682	)		(4,131	)		(200	)		(2,991	)		(2,777	)
	(25,000	)		(17,225	)		(692,940	)		(625,017	)		(29,569	)		(8,783	)		(7,446	)		(7,152	)
	231,305			375,407			593,091			575,385			77,683			115,567			22,841			8,031
	—			—			—			—			—			—			—			—
	—			—			—			—			—			—			—			—
	21,217			14,697			552,458			489,268			24,068			7,011			4,437			4,207
	(186,807	)		(139,427	)		(885,180	)		(859,340	)		(73,640	)		(40,987	)		(19,551	)		(16,262	)
	65,715			250,677			260,369			205,313			28,111			81,591			7,727			(4,024	)
	26,025			25,457			129,203			76,057			18,050			29,567			10,561			3,065
	3,783			2,528			140,482			135,749			5,501			1,772			3,009			2,945
	(68,372	)		(50,657	)		(355,119	)		(259,525	)		(59,932	)		(19,614	)		(14,148	)		(14,037	)
	(38,564	)		(22,672	)		(85,434	)		(47,719	)		(36,381	)		11,725			(578	)		(8,027	)
	27,151			228,005			174,935			157,594			(8,270	)		93,316			7,149			(12,051	)
	150,351			396,367			68,647			790,175			(3,830	)		156,375			11,128			(11,758	)
	1,756,178			1,359,811			7,275,504			6,485,329			466,943			310,568			82,893			94,651
$	1,906,529		$	1,756,178		$	7,344,151		$	7,275,504		$	463,113		$	466,943		$	94,021		$	82,893
$	1,453		$	1,000		$	6,911		$	3,359		$	1,001		$	605		$	145		$	43
	15,669			28,473			24,682			26,036			5,295			8,780			2,072			777
	—			—			—			—			—			—			—			—
	—			—			—			—			—			—			—			—
	1,430			1,053			24,780			21,722			1,651			505			413			446
	(12,526	)		(10,549	)		(36,858	)		(38,955	)		(5,007	)		(3,177	)		(1,788	)		(1,585	)
	4,573			18,977			12,604			8,803			1,939			6,108			697			(362	)
	1,753			1,951			5,346			3,433			1,228			2,249			959			301
	256			181			6,314			6,046			376			128			281			315
	(4,617	)		(3,860	)		(14,854	)		(11,758	)		(4,039	)		(1,483	)		(1,303	)		(1,369	)
	(2,608	)		(1,728	)		(3,194	)		(2,279	)		(2,435	)		894			(63	)		(753	)

­ ­  191  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Changes in Net Assets — (continued)

(000’s Omitted)

	Hartford						Hartford
	Global Advisers HLS Fund						Global Communications HLS Fund
	For the			For the			For the			For the
	Year Ended			Year Ended			Year Ended			Year Ended
	December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006
Operations:
Net investment income (loss)	$	6,275		$	6,069		$	206		$	461
Net realized gain (loss) on investments, futures, options and swap contracts and foreign currency transactions		24,943			17,675			3,794			5,349
Net unrealized appreciation (depreciation) of investments, futures, options and swap contracts and foreign currency transactions		25,222			7,905			1,999			(734	)
Payment from (to) affiliate		—			572			—			11
Net increase (decrease) in net assets resulting from operations		56,440			32,221			5,999			5,087
Distributions to Shareholders:
From net investment income
Class IA		(2,623	)		(9,020	)		(125	)		(270	)
Class IB		(402	)		(1,561	)		(90	)		(203	)
From net realized gain on investments
Class IA		(22,897	)		(11,075	)		(2,793	)		(2,568	)
Class IB		(4,923	)		(2,317	)		(2,591	)		(2,122	)
Total distributions		(30,845	)		(23,973	)		(5,599	)		(5,163	)
Capital Share Transactions:
Class IA
Sold		27,148			17,818			621			434
Issued on in-kind transactions		—			—			—			—
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		25,520			20,095			2,918			2,838
Redeemed		(63,301	)		(70,279	)		(3,808	)		(4,898	)
Total capital share transactions		(10,633	)		(32,366	)		(269	)		(1,626	)
Class IB
Sold		12,738			7,235			4,350			2,285
Issued on reinvestment of distributions		5,325			3,878			2,681			2,325
Redeemed		(19,377	)		(19,936	)		(5,619	)		(3,607	)
Total capital share transactions		(1,314	)		(8,823	)		1,412			1,003
Net increase (decrease) from capital share transactions		(11,947	)		(41,189	)		1,143			(623	)
Net increase (decrease) in net assets		13,648			(32,941	)		1,543			(699	)
Net Assets:
Beginning of period		370,574			403,515			28,255			28,954
End of period	$	384,222		$	370,574		$	29,798		$	28,255
Accumulated undistributed (distribution in excess of) net investment income	$	(172	)	$	(812	)	$	60		$	65
Shares:
Class IA
Sold		1,983			1,386			65			45
Issued on in-kind transaction		—			—			—			—
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		1,928			1,590			331			370
Redeemed		(4,732	)		(5,482	)		(401	)		(555	)
Total share activity		(821	)		(2,506	)		(5	)		(140	)
Class IB
Sold		943			564			462			240
Issued on reinvestment of distributions		404			308			306			304
Redeemed		(1,441	)		(1,564	)		(587	)		(398	)
Total share activity		(94	)		(692	)		181			146

‡ Formerly known as Hartford Global Leaders HLS Fund.

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

­ ­  192  ­ ­

Hartford						Hartford						Hartford						Hartford
Global Financial Services HLS Fund						Global Growth HLS Fund‡						Global Health HLS Fund						Global Technology HLS Fund
For the			For the			For the			For the			For the			For the			For the			For the
Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006
$	661		$	562		$	967		$	5,144		$	379		$	180		$	(566	)	$	(608	)
	1,593			7,525			155,641			80,164			47,854			37,179			26,708			13,980
	(4,639	)		(963	)		123,099			70,989			(22,391	)		7,669			(7,411	)		437
	—			6			—			3,344			—			116			—			88
	(2,385	)		7,130			279,707			159,641			25,842			45,144			18,731			13,897
	(9	)		(359	)		(509	)		(7,210	)		(321	)		(179	)		—			—
	(8	)		(228	)		(153	)		(1,211	)		—			—			—			—
	(4,100	)		(815	)		(107,687	)		(50,448	)		(41,637	)		(44,335	)		—			—
	(3,309	)		(704	)		(31,874	)		(15,059	)		(15,594	)		(17,323	)		—			—
	(7,426	)		(2,106	)		(140,223	)		(73,928	)		(57,552	)		(61,837	)		—			—
	656			263			73,376			75,692			38,136			70,131			37,689			44,605
	—			—			—			—			—			—			—			—
	—			—			—			—			—			—			—			—
	4,109			1,173			108,196			57,658			41,958			44,515			—			—
	(4,197	)		(3,652	)		(203,272	)		(192,502	)		(87,505	)		(92,232	)		(47,881	)		(54,039	)
	568			(2,216	)		(21,700	)		(59,152	)		(7,411	)		22,414			(10,192	)		(9,434	)
	719			57			33,680			21,219			14,532			11,475			9,264			7,797
	3,317			933			32,027			16,270			15,594			17,323			—			—
	(4,748	)		(4,197	)		(77,401	)		(57,098	)		(34,442	)		(28,451	)		(15,760	)		(12,062	)
	(712	)		(3,207	)		(11,694	)		(19,609	)		(4,316	)		347			(6,496	)		(4,265	)
	(144	)		(5,423	)		(33,394	)		(78,761	)		(11,727	)		22,761			(16,688	)		(13,699	)
	(9,955	)		(399	)		106,090			6,952			(43,437	)		6,068			2,043			198
	38,165			38,564			1,222,541			1,215,589			438,896			432,828			148,560			148,362
$	28,210		$	38,165		$	1,328,631		$	1,222,541		$	395,459		$	438,896		$	150,603		$	148,560
$	669		$	17		$	12		$	(2,425	)	$	43		$	24		$	—		$	—
	63			21			3,252			3,866			2,204			3,991			5,651			7,779
	—			—			—			—			—			—			—			—
	—			—			—			—			—			—			—			—
	373			99			5,023			2,895			2,668			2,744			—			—
	(365	)		(296	)		(9,286	)		(9,779	)		(5,057	)		(5,251	)		(7,334	)		(9,500	)
	71			(176	)		(1,011	)		(3,018	)		(185	)		1,484			(1,683	)		(1,721	)
	70			5			1,493			1,077			850			661			1,411			1,378
	302			79			1,496			819			1,009			1,084			—			—
	(421	)		(343	)		(3,528	)		(2,902	)		(2,021	)		(1,648	)		(2,420	)		(2,153	)
	(49	)		(259	)		(539	)		(1,006	)		(162	)		97			(1,009	)		(775	)

­ ­  193  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Changes in Net Assets — (continued)

(000’s Omitted)

	Hartford						Hartford
	Growth HLS Fund						Growth Opportunities HLS Fund
	For the			For the			For the			For the
	Year Ended			Year Ended			Year Ended			Year Ended
	December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006
Operations:
Net investment income (loss)	$	121		$	98		$	1,772		$	8,419
Net realized gain (loss) on investments, futures, options and swap contracts and foreign currency transactions		41,638			44,221			291,546			124,794
Net unrealized appreciation (depreciation) of investments, futures, options and swap contracts and foreign currency transactions		43,194			(19,797	)		81,169			3,805
Payment from (to) affiliate		—			286			—			1,098
Net increase (decrease) in net assets resulting from operations		84,953			24,808			374,487			138,116
Distributions to Shareholders:
From net investment income
Class IA		(75	)		(186	)		(1,850	)		(8,100	)
Class IB		—			—			(60	)		(884	)
From net realized gain on investments
Class IA		(25,705	)		(23,496	)		(220,443	)		(108,948	)
Class IB		(13,232	)		(11,791	)		(43,763	)		(19,575	)
Total distributions		(39,012	)		(35,473	)		(266,116	)		(137,507	)
Capital Share Transactions:
Class IA
Sold		85,722			104,412			217,719			188,777
Issued on in-kind transaction		—			—			—			—
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		25,780			23,683			222,293			117,049
Redeemed		(132,764	)		(87,022	)		(222,459	)		(216,061	)
Total capital share transactions		(21,262	)		41,073			217,553			89,765
Class IB
Sold		23,323			24,147			83,662			49,911
Issued on reinvestment of distributions		13,232			11,791			43,823			20,458
Redeemed		(51,926	)		(48,345	)		(61,762	)		(51,438	)
Total capital share transactions		(15,371	)		(12,407	)		65,723			18,931
Net increase (decrease) from capital share transactions		(36,633	)		28,666			283,276			108,696
Net increase (decrease) in net assets		9,308			18,001			391,647			109,305
Net Assets:
Beginning of period		569,664			551,663			1,301,387			1,192,082
End of period	$	578,972		$	569,664		$	1,693,034		$	1,301,387
Accumulated undistributed (distribution in excess of) net investment income	$	118		$	75		$	94		$	389
Shares:
Class IA
Sold		6,662			8,271			6,208			6,073
Issued on in-kind transaction		—			—			—			—
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		1,985			1,924			6,954			3,934
Redeemed		(10,419	)		(6,928	)		(6,570	)		(7,054	)
Total share activity		(1,772	)		3,267			6,592			2,953
Class IB
Sold		1,801			1,970			2,405			1,621
Issued on reinvestment of distributions		1,034			969			1,386			693
Redeemed		(4,045	)		(3,908	)		(1,845	)		(1,706	)
Total share activity		(1,210	)		(969	)		1,946			608

(L)	Formerly known as Hartford International Capital Appreciation HLS Fund.
(V)	Hartford International Opportunities HLS Fund merged with Hartford International Stock HLS Fund. (See Note 6 in the Notes to Financial Statements.)

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

­ ­  194  ­ ­

Hartford						Hartford						Hartford						Hartford International
High Yield HLS Fund						Index HLS Fund						International Growth HLS Fund(L)						Opportunities HLS Fund(V)
For the			For the			For the			For the			For the			For the			For the			For the
Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006
$	54,550		$	51,972		$	28,378		$	29,573		$	6,689		$	4,540		$	23,331		$	25,004
	6,326			(215	)		106,154			88,857			201,205			81,528			444,474			238,839
	(41,422	)		23,338			(39,036	)		149,369			1,940			73,313			49,261			122,374
	—			129			—			90			—			11			—			314
	19,454			75,224			95,496			267,889			209,834			159,392			517,066			386,531
	(36,170	)		(66,340	)		(23,589	)		(26,105	)		(5,134	)		(4,215	)		(21,053	)		(38,195	)
	(17,163	)		(37,565	)		(3,932	)		(3,766	)		(1,462	)		(1,218	)		(3,363	)		(4,186	)
	—			—			(79,243	)		(174,313	)		(129,052	)		(41,640	)		(362,704	)		(118,052	)
	—			—			(15,598	)		(29,239	)		(57,554	)		(22,639	)		(75,930	)		(28,152	)
	(53,333	)		(103,905	)		(122,362	)		(233,423	)		(193,202	)		(69,712	)		(463,050	)		(188,585	)
	109,945			129,200			117,054			109,735			186,793			153,015			229,936			293,361
	—			—			—			—			—			—			—			—
	—			—			—			—			—			—			99,957			—
	36,170			66,339			102,832			200,417			134,186			45,855			383,757			156,247
	(134,040	)		(149,734	)		(406,211	)		(443,564	)		(112,111	)		(50,226	)		(321,451	)		(260,149	)
	12,075			45,805			(186,325	)		(133,412	)		208,868			148,644			392,199			189,459
	47,142			42,493			78,279			52,154			52,273			55,913			49,416			56,023
	17,163			37,565			19,530			33,006			59,016			23,858			79,293			32,338
	(95,398	)		(77,727	)		(96,850	)		(76,191	)		(85,820	)		(55,687	)		(109,128	)		(68,392	)
	(31,093	)		2,331			959			8,969			25,469			24,084			19,581			19,969
	(19,018	)		48,136			(185,366	)		(124,443	)		234,337			172,728			411,780			209,428
	(52,897	)		19,455			(212,232	)		(89,977	)		250,969			262,408			465,796			407,374
	735,852			716,397			1,875,026			1,965,003			877,535			615,127			1,978,426			1,571,052
$	682,955		$	735,852		$	1,662,794		$	1,875,026		$	1,128,504		$	877,535		$	2,444,222		$	1,978,426
$	1,988		$	990		$	1,095		$	647		$	(727	)	$	(285	)	$	(1,273	)	$	476
	11,452			13,188			3,474			3,386			11,976			11,231			13,760			19,972
	—			—			—			—			—			—			—			—
	—			—			—			—			—			—			5,347			—
	4,074			7,161			3,288			6,466			9,523			3,322			25,242			10,497
	(14,012	)		(15,232	)		(12,047	)		(13,684	)		(7,300	)		(3,730	)		(19,373	)		(17,758	)
	1,514			5,117			(5,285	)		(3,832	)		14,199			10,823			24,976			12,711
	4,960			4,356			2,330			1,605			3,390			4,145			2,912			3,767
	1,951			4,092			627			1,069			4,210			1,741			5,158			2,139
	(10,093	)		(8,001	)		(2,887	)		(2,360	)		(5,625	)		(4,149	)		(6,533	)		(4,647	)
	(3,182	)		447			70			314			1,975			1,737			1,537			1,259

­ ­  195  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Changes in Net Assets — (continued)

(000’s Omitted)

	Hartford International						Hartford
	Small Company HLS Fund						LargeCap Growth HLS Fund*
	For the			For the			For the			For the
	Year Ended			Year Ended			Year Ended			Year Ended
	December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006
Operations:
Net investment income (loss)	$	3,372		$	3,424		$	997		$	445
Net realized gain (loss) on investments, futures, options and swap contracts and foreign currency transactions		66,157			55,194			19,586			31,915
Net unrealized appreciation (depreciation) of investments, futures, options and swap contracts and foreign currency transactions		(31,975	)		28,897			(11,913	)		(21,441	)
Payment from (to) affiliate		—			11			—			—
Net increase (decrease) in net assets resulting from operations		37,554			87,526			8,670			10,919
Distributions to Shareholders:
From net investment income
Class IA		(5,435	)		(4,903	)		(968	)		(458	)
Class IB		(1,587	)		(1,571	)		—			—
From net realized gain on investments
Class IA		(50,208	)		(30,974	)		(13,191	)		—
Class IB		(17,492	)		(12,576	)		—			—
Total distributions		(74,722	)		(50,024	)		(14,159	)		(458	)
Capital Share Transactions:
Class IA
Sold		91,442			106,451			4,586			2,497
Issued on in-kind transaction		—			—			—			—
Issued in merger		—			—			69,913			—
Issued on reinvestment of distributions		55,643			35,877			14,159			458
Redeemed		(101,171	)		(67,279	)		(50,754	)		(29,286	)
Total capital share transactions		45,914			75,049			37,904			(26,331	)
Class IB
Sold		23,930			30,387			—			—
Issued on reinvestment of distributions		19,079			14,147			—			—
Redeemed		(45,626	)		(31,043	)		—			—
Total capital share transactions		(2,617	)		13,491			—			—
Net increase (decrease) from capital share transactions		43,297			88,540			37,904			(26,331	)
Net increase (decrease) in net assets		6,129			126,042			32,415			(15,870	)
Net Assets:
Beginning of period		411,911			285,869			139,150			155,020
End of period	$	418,040		$	411,911		$	171,565		$	139,150
Accumulated undistributed (distribution in excess of) net investment income	$	(2,493	)	$	(166	)	$	76		$	47
Shares:
Class IA
Sold		5,123			6,405			227			131
Issued on in-kind transaction		—			—			—			—
Issued in merger		—			—			3,338			—
Issued on reinvestment of distributions		3,721			2,185			702			23
Redeemed		(5,693	)		(4,079	)		(2,490	)		(1,531	)
Total share activity		3,151			4,511			1,777			(1,377	)
Class IB
Sold		1,338			1,839			—			—
Issued on reinvestment of distributions		1,285			868			—			—
Redeemed		(2,586	)		(1,924	)		—			—
Total share activity		37			783			—			—

* Formerly known as Hartford Blue Chip Stock HLS Fund, (Hartford LargeCap Growth HLS Fund and Hartford Capital Opportunities HLS Fund merged into Blue Chip Stock HLS Fund and was renamed Hartford LargeCap Growth HLS Fund (See Note 6 in the Notes to Financial Statements.)

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

­ ­  196  ­ ­

Hartford						Hartford						Hartford						Hartford
MidCap HLS Fund						MidCap Growth HLS Fund						MidCap Value HLS Fund						Money Market HLS Fund
For the			For the			For the			For the			For the			For the			For the			For the
Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006
$	6,022		$	29,856		$	144		$	(45	)	$	4,895		$	7,202		$	108,541		$	81,038
	517,633			430,679			5,340			11,873			149,454			164,735			52			1
	(93,641	)		(152,452	)		504			(5,650	)		(117,134	)		6,621			—			—
	—			3,817			114			—			—			980			—			—
	430,014			311,900			6,102			6,178			37,215			179,538			108,593			81,039
	(13,049	)		(27,543	)		(249	)		—			(3,686	)		(6,285	)		(90,770	)		(67,958	)
	(704	)		(2,276	)		—			—			(906	)		(1,991	)		(17,771	)		(13,080	)
	(409,560	)		(396,590	)		(8,725	)		(7,823	)		(111,146	)		(92,107	)		(43	)		(1	)
	(45,783	)		(42,121	)		—			—			(56,292	)		(48,772	)		(9	)		—
	(469,096	)		(468,530	)		(8,974	)		(7,823	)		(172,030	)		(149,155	)		(108,593	)		(81,039	)
	279,508			445,633			3,575			2,468			18,402			19,776			2,394,176			1,780,507
	—			—			—			—			—			—			—			—
	—			—			—			—			—			—			—			—
	422,609			424,133			8,974			7,823			114,832			98,392			90,667			68,099
	(559,361	)		(652,603	)		(11,876	)		(10,460	)		(148,794	)		(138,205	)		(1,819,153	)		(1,644,009	)
	142,756			217,163			673			(169	)		(15,560	)		(20,037	)		665,690			204,597
	65,472			51,477			—			—			12,383			1,562			503,545			300,900
	46,487			44,397			—			—			57,198			50,763			17,750			13,111
	(78,167	)		(60,075	)		—			—			(95,514	)		(83,326	)		(388,244	)		(258,125	)
	33,792			35,799			—			—			(25,933	)		(31,001	)		133,051			55,886
	176,548			252,962			673			(169	)		(41,493	)		(51,038	)		798,741			260,483
	137,466			96,332			(2,199	)		(1,814	)		(176,308	)		(20,655	)		798,741			260,483
	2,880,970			2,784,638			53,395			55,209			1,092,240			1,112,895			1,878,359			1,617,876
$	3,018,436		$	2,880,970		$	51,196		$	53,395		$	915,932		$	1,092,240		$	2,677,100		$	1,878,359
$	1,433		$	722		$	—		$	—		$	90		$	147		$	—		$	—
	9,379			15,118			307			207			1,334			1,405			2,394,177			1,780,507
	—			—			—			—			—			—			—			—
	—			—			—			—			—			—			—			—
	16,015			15,588			839			716			8,127			7,830			90,667			68,099
	(18,842	)		(22,208	)		(1,030	)		(883	)		(10,473	)		(9,824	)		(1,819,153	)		(1,644,009	)
	6,552			8,498			116			40			(1,012	)		(589	)		665,691			204,597
	2,201			1,740			—			—			940			112			503,545			300,900
	1,779			1,645			—			—			4,058			4,068			17,750			13,111
	(2,659	)		(2,054	)		—			—			(6,797	)		(5,951	)		(388,245	)		(258,125	)
	1,321			1,331			—			—			(1,799	)		(1,771	)		133,050			55,886

­ ­  197  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Changes in Net Assets — (continued)

(000’s Omitted)

	Hartford						Hartford
	Mortgage Securities HLS Fund						Small Company HLS Fund
	For the			For the			For the			For the
	Year Ended			Year Ended			Year Ended			Year Ended
	December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006
Operations:
Net investment income (loss)	$	25,565		$	27,043		$	(1,112	)	$	2,224
Net realized gain (loss) on investments, futures, options and swap contracts and foreign currency transactions		(1,578	)		(2,723	)		176,151			280,208
Net unrealized appreciation (depreciation) of investments, futures, options and swap contracts and foreign currency transactions		(7,604	)		1,050			26,360			(107,789	)
Payment from (to) affiliate		—			—			3,000			1,839
Net increase (decrease) in net assets resulting from operations		16,383			25,370			204,399			176,482
Distributions to Shareholders:
From net investment income
Class IA		(19,445	)		(43,331	)		(2,999	)		(1,995	)
Class IB		(6,034	)		(14,091	)		—			(310	)
From net realized gain on investments
Class IA		—			—			(187,848	)		(166,251	)
Class IB		—			—			(49,715	)		(46,960	)
Total distributions		(25,479	)		(57,422	)		(240,562	)		(215,516	)
Capital Share Transactions:
Class IA
Sold		35,958			39,710			270,005			351,795
Issued on in-kind transactions		—			—			12,557	(J)		—
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		19,445			43,331			190,847			168,246
Redeemed		(102,801	)		(109,527	)		(290,452	)		(372,191	)
Total capital share transactions		(47,398	)		(26,486	)		182,957			147,850
Class IB
Sold		11,912			10,303			85,328			127,914
Issued on reinvestment of distributions		6,034			14,091			49,715			47,270
Redeemed		(38,185	)		(42,979	)		(120,205	)		(77,994	)
Total capital share transactions		(20,239	)		(18,585	)		14,838			97,190
Net increase (decrease) from capital share transactions		(67,637	)		(45,071	)		197,795			245,040
Net increase (decrease) in net assets		(76,733	)		(77,123	)		161,632			206,006
Net Assets:
Beginning of period		543,508			620,631			1,443,587			1,237,581
End of period	$	466,775		$	543,508		$	1,605,219		$	1,443,587
Accumulated undistributed (distribution in excess of) net investment income	$	1,345		$	879		$	(161	)	$	—
Shares:
Class IA
Sold		3,279			3,523			13,231			17,120
Issued on in-kind transactions		—			—			614	(J)		—
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		1,848			3,999			10,324			8,874
Redeemed		(9,378	)		(9,703	)		(14,477	)		(17,994	)
Total share activity		(4,251	)		(2,181	)		9,692			8,000
Class IB
Sold		1,094			924			4,302			6,160
Issued on reinvestment of distributions		577			1,310			2,744			2,541
Redeemed		(3,507	)		(3,832	)		(6,155	)		(3,776	)
Total share activity		(1,836	)		(1,598	)		891			4,925

(J) During the year ended December 31, 2007, Hartford Small Company HLS Fund received in-kind subscriptions of securities from a shareholder in exchange for shares of this fund.

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

­ ­  198  ­ ­

Hartford						Hartford						Hartford						Hartford
SmallCap Growth HLS Fund						SmallCap Value HLS Fund						Stock HLS Fund						Total Return Bond HLS Fund
For the			For the			For the			For the			For the			For the			For the			For the
Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006
$	4,452		$	3,507		$	1,241		$	1,374		$	49,070		$	65,537		$	224,153		$	185,710
	69,858			69,364			8,626			19,412			591,094			646,070			28,805			(23,745	)
	(86,281	)		(13,942	)		(13,235	)		(3,759	)		(328,015	)		(4,441	)		(58,854	)		22,008
	—			(229	)		—			—			—			5,820			—			107
	(11,971	)		58,700			(3,368	)		17,027			312,149			712,986			194,104			184,080
	(1,968	)		(2,690	)		(1,157	)		(1,296	)		(41,670	)		(57,414	)		(179,134	)		(146,134	)
	(52	)		(351	)		(3	)		(2	)		(5,163	)		(7,809	)		(51,864	)		(46,861	)
	(50,679	)		(49,201	)		(10,609	)		(19,902	)		(578,175	)		(250,786	)		—			(400	)
	(18,161	)		(18,032	)		(26	)		(33	)		(97,285	)		(42,418	)		—			(149	)
	(70,860	)		(70,274	)		(11,795	)		(21,233	)		(722,293	)		(358,427	)		(230,998	)		(193,544	)
	64,470			167,604			5,353			3,893			115,886			162,487			664,704			692,109
	—			—			—			—			—			—			—			—
	—			—			—			—			—			—			—			—
	52,647			51,890			11,766			21,198			619,845			308,200			179,134			146,535
	(161,711	)		(171,018	)		(22,338	)		(22,009	)		(972,979	)		(1,065,093	)		(396,537	)		(533,586	)
	(44,594	)		48,476			(5,219	)		3,082			(237,248	)		(594,406	)		447,301			305,058
	32,345			79,810			138			53			31,937			33,536			160,718			114,885
	18,213			18,383			29			35			102,448			50,227			51,864			47,010
	(74,858	)		(91,120	)		(54	)		(56	)		(181,913	)		(144,888	)		(209,678	)		(189,475	)
	(24,300	)		7,073			113			32			(47,528	)		(61,125	)		2,904			(27,580	)
	(68,894	)		55,549			(5,106	)		3,114			(284,776	)		(655,531	)		450,205			277,478
	(151,725	)		43,975			(20,269	)		(1,092	)		(694,920	)		(300,972	)		413,311			268,014
	1,020,002			976,027			102,404			103,496			5,256,803			5,557,775			4,081,729			3,813,715
$	868,277		$	1,020,002		$	82,135		$	102,404		$	4,561,883		$	5,256,803		$	4,495,040		$	4,081,729
$	2,211		$	—		$	20		$	30		$	5,586		$	4,252		$	12,254		$	4,639
	3,015			7,759			410			269			2,114			3,194			58,227			61,030
	—			—			—			—			—			—			—			—
	—			—			—			—			—			—			—			—
	2,865			2,481			1,084			1,622			12,999			5,888			16,235			13,029
	(7,517	)		(8,077	)		(1,705	)		(1,523	)		(17,700	)		(20,812	)		(34,707	)		(47,107	)
	(1,637	)		2,163			(211	)		368			(2,587	)		(11,730	)		39,755			26,952
	1,510			3,701			11			3			584			656			14,160			10,191
	993			881			3			3			2,152			962			4,722			4,198
	(3,516	)		(4,435	)		(4	)		(4	)		(3,313	)		(2,835	)		(18,438	)		(16,792	)
	(1,013	)		147			10			2			(577	)		(1,217	)		444			(2,403	)

­ ­  199  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Changes in Net Assets — (continued)

(000’s Omitted)

	Hartford U.S. Government						Hartford						Hartford
	Securities HLS Fund						Value HLS Fund						Value Opportunities HLS Fund
	For the			For the			For the			For the			For the			For the
	Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006
Operations:
Net investment income (loss)	$	53,671		$	41,615		$	5,928		$	4,580		$	7,956		$	7,275
Net realized gain (loss) on investments, futures, options and swap contracts and foreign currency transactions		1,189			(8,996	)		29,037			36,922			68,339			46,699
Net unrealized appreciation (depreciation) of investments, futures, options and swap contracts and foreign currency transactions		(7,205	)		4,926			2,032			30,229			(113,648	)		47,434
Payment from (to) affiliate		—			—			—			33			—			280
Net increase (decrease) in net assets resulting from operations		47,655			37,545			36,997			71,764			(37,353	)		101,688
Distributions to Shareholders:
From net investment income
Class IA		(31,893	)		(22,204	)		(4,090	)		(3,189	)		(6,367	)		(5,905	)
Class IB		(10,663	)		(10,055	)		(1,347	)		(1,169	)		(1,317	)		(1,488	)
From net realized gain on investments
Class IA		—			—			(26,740	)		(6,002	)		(72,368	)		(51,405	)
Class IB		—			—			(13,121	)		(3,835	)		(19,778	)		(18,120	)
Total distributions		(42,556	)		(32,259	)		(45,298	)		(14,195	)		(99,830	)		(76,918	)
Capital Share Transactions:
Class IA
Sold		284,224			263,885			103,127			87,474			104,697			124,587
Issued on in-kind transactions		—			—			—			—			—			—
Issued in merger		—			—			—			—			—			—
Issued on reinvestment of distributions		31,893			22,204			30,830			9,192			78,735			57,311
Redeemed		(106,553	)		(169,642	)		(78,091	)		(48,293	)		(126,355	)		(81,630	)
Total capital share transactions		209,564			116,447			55,866			48,373			57,077			100,268
Class IB
Sold		57,814			31,121			18,968			27,688			30,962			30,780
Issued on reinvestment of distributions		10,663			10,055			14,468			5,003			21,095			19,607
Redeemed		(62,720	)		(75,234	)		(47,778	)		(35,942	)		(66,189	)		(44,699	)
Total capital share transactions		5,757			(34,058	)		(14,342	)		(3,251	)		(14,132	)		5,688
Net increase (decrease) from capital share transactions		215,321			82,389			41,524			45,122			42,945			105,956
Net increase (decrease) in net assets		220,420			87,675			33,223			102,691			(94,238	)		130,726
Net Assets:
Beginning of period		1,002,602			914,927			426,117			323,426			672,799			542,073
End of period	$	1,223,022		$	1,002,602		$	459,340		$	426,117		$	578,561		$	672,799
Accumulated undistributed (distribution in excess of) net investment income	$	54,273		$	42,556		$	811		$	332		$	595		$	345
Shares:
Class IA
Sold		25,680			23,908			7,832			7,229			5,139			6,343
Issued on in-kind transactions		—			—			—			—			—			—
Issued in merger		—			—			—			—			—			—
Issued on reinvestment of distributions		2,960			2,082			2,339			773			4,986			3,023
Redeemed		(9,620	)		(15,347	)		(5,923	)		(4,040	)		(6,303	)		(4,203	)
Total share activity		19,020			10,643			4,248			3,962			3,822			5,163
Class IB
Sold		5,269			2,843			1,428			2,289			1,531			1,570
Issued on reinvestment of distributions		993			946			1,098			427			1,334			1,042
Redeemed		(5,685	)		(6,870	)		(3,613	)		(2,997	)		(3,263	)		(2,322	)
Total share activity		577			(3,081	)		(1,087	)		(281	)		(398	)		290

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

­ ­  200  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements

December 31, 2007

(000’s Omitted)

1.  Organization:

The Hartford HLS Funds serve as underlying investment options for certain variable annuity and variable life insurance separate accounts of Hartford Life Insurance Company and its affiliates (“HLIC”) and certain qualified retirement plans. Certain Hartford HLS Funds may also serve as underlying investment options for certain variable annuity and variable life separate accounts of other insurance companies. Owners of variable annuity contracts and policyholders of variable life insurance contracts may choose the funds permitted in the accompanying variable insurance contract prospectus. In addition, participants in certain qualified retirement plans may choose the funds permitted by their plans.

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc. (the “Companies”) are open-end management investment companies comprised of thirty-three portfolios (each a “Fund” or together the “Funds”). They are Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Disciplined Equity HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford Equity Income HLS Fund, Hartford Fundamental Growth HLS Fund, Hartford Global Advisers HLS Fund, Hartford Global Communications HLS Fund, Hartford Global Financial Services HLS Fund, Hartford Global Growth HLS Fund, Hartford Global Health HLS Fund, Hartford Global Technology HLS Fund, Hartford Growth HLS Fund, Hartford Growth Opportunities HLS Fund, Hartford High Yield HLS Fund, Hartford Index HLS Fund, Hartford International Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford International Small Company HLS Fund, Hartford LargeCap Growth HLS Fund, Hartford MidCap HLS Fund, Hartford MidCap Growth HLS Fund, Hartford MidCap Value HLS Fund, Hartford Money Market HLS Fund, Hartford Mortgage Securities HLS Fund, Hartford Small Company HLS Fund, Hartford SmallCap Growth HLS Fund, Hartford SmallCap Value HLS Fund, Hartford Stock HLS Fund, Hartford Total Return Bond HLS Fund, Hartford U.S. Government Securities HLS Fund, Hartford Value HLS Fund and Hartford Value Opportunities HLS Fund. The Companies are organized under the laws of the State of Maryland and are registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”), as diversified open-end management investment companies, except for Hartford Global Communications HLS Fund, Hartford Global Financial Services HLS Fund, Hartford Global Health HLS Fund and Hartford Global Technology HLS Fund, which are non-diversified.

Each Fund is divided into Class IA and Class IB shares, except Class IB shares are currently not offered for Hartford LargeCap Growth HLS Fund and Hartford MidCap Growth HLS Fund. Each class is offered at Net Asset Value (“NAV”) without a sales charge and is subject to the same expenses, except that the Class IB shares are subject to distribution fees charged pursuant to Distributions and Service Plans. These Distribution and Service Plans have been adopted in accordance with Rule 12b-1 of the 1940 Act.

Effective February 2, 2007, Hartford LargeCap Growth HLS Fund and Hartford Capital Opportunities HLS Fund were merged into Hartford Blue Chip Stock Fund and on that date Hartford Blue Chip Stock HLS Fund was renamed Hartford LargeCap Growth HLS Fund. Effective October 12, 2007, Hartford International Stock HLS Fund was merged into Hartford International Opportunities HLS Fund.

Effective July 27, 2007, Hartford Focus HLS Fund was renamed Hartford Fundamental Growth HLS Fund, Hartford Global Leaders HLS Fund was renamed Hartford Global Growth HLS Fund and Hartford International Capital Appreciation HLS Fund was renamed Hartford International Growth HLS Fund.

Indemnifications:  Under the Companies’ organizational documents, each Company shall indemnify its officers and directors to the full extent required or permitted under Maryland Corporate Law and the federal securities law. In addition, the Companies on behalf of the Funds, may enter into contracts that contain a variety of indemnifications. The Companies’ maximum exposure under these arrangements is unknown. However, the Companies have not had prior claims or losses pursuant to these contracts and expect the risk of loss to be remote.

2.  Significant Accounting Policies:

The following is a summary of significant accounting policies of the Funds, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) in the investment company industry:

a)  Security Transactions — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.

Trade date for senior floating rate interests purchased in the primary market is considered the date on which the loan allocations are determined. Trade date for senior floating rate interests purchased in the secondary market is the date on which the transaction is entered into.

b)  Security Valuation and Investment Income — Except for Hartford Money Market HLS Fund, the Funds generally use market prices in valuing portfolio securities. If market quotations are not readily available or are deemed unreliable, a Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of that Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the exchange on which a portfolio security is principally traded but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which a Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of securities principally traded on foreign markets, each Fund uses a fair value pricing service approved by that Fund’s Board of Directors which employs quantitative models to adjust for “stale” prices caused by the movement of other markets and other factors occurring after the close of the foreign markets but before the close of the Exchange. Securities that are principally traded on foreign markets may trade on days that are not business days of the Funds. Because the NAV of each Fund’s shares is determined only on business days of the Funds, the value of the portfolio securities of a Fund that invests in foreign securities may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Funds may cause the NAV of their respective shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is principally traded but before the close of

­ ­  201  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

the Exchange. There can be no assurance that any Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which that Fund determines its NAV per share.

Debt securities (other than short-term obligations and senior floating rate interests), held by the Fund are valued on the basis of valuations furnished by an unaffiliated pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an unaffiliated pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation system in accordance with procedures established by that Fund’s Board of Directors. Generally, each Fund may use fair valuation in regards to debt securities when a Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Hartford Money Market HLS Fund’s investments and investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter (“OTC”) market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent bid quotation on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts shall be valued at the final settlement price reported by an exchange on which they are principally traded. If there were no trades as of the valuation day, then the contract shall be valued at the closing bid price as of the Valuation Time.

Financial instruments for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in securities or from a widely-used quotation system in accordance with procedures established by the Fund’s Board of Directors.

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time. In the event that the applicable pricing service cannot provide the spot currency rates and forward currency rates in a timely fashion, such rates may be obtained from a widely-used quotation system in accordance with procedures established by the Fund’s Board of Directors.

Swaps and other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.

Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.

Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.

c)  Foreign Currency Transactions — The accounting records of the Funds are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.

The Funds do not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.

Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.

d)  Securities Lending — The Funds, except for Hartford Money Market HLS Fund, may lend their securities to certain qualified brokers who pay these Funds negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government

­ ­  202  ­ ­

Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following day.

While securities are on loan, each Fund is subject to: the risk that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, the risk that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, the risk that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, the risk that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, the risk that return of loaned securities could be delayed and could interfere with portfolio management decisions and the risk that any efforts to recall the securities for purposes of voting may not be effective.

e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Funds may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”), or Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Funds enter into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by each Fund’s custodian in book entry or physical form in the custodial account of the Funds or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. Certain Funds, as shown on the Schedule of Investments, had outstanding repurchase agreements as of December 31, 2007.
g)	Reverse Repurchase Agreements — Each Fund, except Hartford Index HLS Fund, may also enter into reverse repurchase agreements. Reverse repurchase agreements involve sales by a Fund of portfolio assets concurrently with an agreement by a Fund to repurchase the same assets at a later date at a fixed price. Reverse repurchase agreements carry the risk that the market value of the securities which a Fund is obligated to repurchase may decline below the repurchase price. A reverse repurchase agreement is viewed as a collateralized borrowing by a Fund. Borrowing magnifies the potential for gain or loss on the portfolio securities of a Fund and, therefore, increases the possibility of fluctuation in a Fund’s NAV. As of December 31, 2007, there were no outstanding reverse repurchase agreements.
h)	Futures and Options Transactions — Certain Funds may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Funds enter into such futures contracts, they are required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called maintenance margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Funds.

At any time prior to the expiration of the futures contract, a Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of maintenance margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involve elements of market risk, which may exceed the amounts recognized in the Statements of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Funds’ strategies and potentially result in loss. Certain Funds, as shown on the Schedule of Investments, had outstanding futures contracts as of December 31, 2007.

The premium paid by a Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

­ ­  203  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

The Funds may write covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will establish or maintain with its custodian for the term of the option a “segregated account” consisting of cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. A Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. Transactions involving written option contracts for the Funds during the year ended December 31, 2007, are summarized below:

	Hartford Advisers HLS Fund
	Options Contract Activity During the
	Year Ended December 31, 2007
Call Options Written During the Period	Number of Contracts*			Premium Amounts
Beginning of the period		—		$	—
Written		2,750			899
Expired		—			—
Closed		(1,225	)		(336	)
Exercised		(1,525	)		(563	)
End of Period		—		$	—

Put Options Written During the Period	Number of Contracts*			Premium Amounts
Beginning of the period		—		$	—
Written		15,885			4,276
Expired		—			—
Closed		(15,885	)		(4,276	)
Exercised		—			—
End of Period		—		$	—

	Hartford Capital Appreciation HLS Fund
	Options Contract Activity During the
	Year Ended December 31, 2007
Call Options Written During the Period	Number of Contracts*			Premium Amounts
Beginning of the period		—		$	—
Written		4,596			1,055
Expired		—			—
Closed		(4,596	)		(1,055	)
Exercised		—			—
End of Period		—		$	—

	Hartford Disciplined Equity HLS Fund
	Options Contract Activity During the
	Year Ended December 31, 2007
Call Options Written During the Period	Number of Contracts*			Premium Amounts
Beginning of the period	$	2,522		$	208
Written		20,526			1,787
Expired		(11,855	)		(999	)
Closed		(7,022	)		(530	)
Exercised		(1,519	)		(173	)
End of Period		2,652		$	293

Put Options Written During the Period	Number of Contracts*			Premium Amounts
Beginning of the period		—		$	—
Written		9,712			632
Expired		(5,607	)		(332	)
Closed		(4,105	)		(300	)
Exercised		—			—
End of Period		—		$	—

­ ­  204  ­ ­

	Hartford Stock HLS Fund
	Options Contract Activity During the
	Year Ended December 31, 2007
Call Options Written During the Period	Number of Contracts*			Premium Amounts
Beginning of the period		—		$	—
Written		2,457			796
Expired		—			—
Closed		(1,173	)		(322	)
Exercised		(1,284	)		(474	)
End of Period		—		$	—

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

i)  Forward Foreign Currency Contracts — For the year ended December 31, 2007, certain Funds, as shown on the Schedule of Investments entered into forward foreign currency contracts that obligate the Funds to repurchase/replace or sell currencies at specified future dates. The Funds enter into forward foreign currency contracts to hedge against adverse fluctuations in exchange rates between currencies.

Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statements of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.

j)	Indexed Securities — The Funds may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Funds use these securities to increase or decrease their exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. Certain Funds had investments in indexed securities, as of December 31, 2007, as shown on the Schedule of Investments under Exchange Traded Funds.
k)	Federal Income Taxes — For federal income tax purposes, the Funds intend to continue to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of their taxable net investment income and net realized capital gains to their shareholders and otherwise complying with the requirements of regulated investment companies. The Funds have distributed substantially all of their income and capital gains in prior years and each Fund intends to distribute substantially all of its income and gains prior to the next fiscal year end. Accordingly, no provision for federal income taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distribution for federal income tax purposes.
l)	The tax character of distributions paid for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended				For the Year Ended
	December 31, 2007				December 31, 2006
			Long-Term				Long-Term
	Ordinary Income		Capital Gains(a)		Ordinary Income		Capital Gains(a)
Hartford Advisers HLS Fund	$	685,113	$	286,923	$	515,345	$	282,069
Hartford Capital Appreciation HLS Fund		706,183		1,741,718		787,497		1,177,329
Hartford Disciplined Equity HLS Fund		25,000		—		17,225		—
Hartford Dividend and Growth HLS Fund		162,791		530,149		138,240		486,777
Hartford Equity Income HLS Fund		13,741		15,828		7,996		787
Hartford Fundamental Growth HLS Fund		6,489		957		3,929		3,223
Hartford Global Advisers HLS Fund		9,527		21,318		17,582		6,391
Hartford Global Communications HLS Fund		750		4,849		1,350		3,813
Hartford Global Financial Services HLS Fund		841		6,585		1,063		1,043
Hartford Global Growth HLS Fund		32,462		107,761		29,720		44,208
Hartford Global Health HLS Fund		11,053		46,499		22,014		39,823
Hartford Growth HLS Fund		4,132		34,880		2,054		33,419
Hartford Growth Opportunities HLS Fund		163,824		102,292		48,149		89,358
Hartford High Yield HLS Fund		53,333		—		103,905		—
Hartford Index HLS Fund		29,201		93,161		30,059		203,364
Hartford International Growth HLS Fund		103,923		89,279		47,161		22,551
Hartford International Opportunities HLS Fund		218,997		244,053		109,112		79,473
Hartford International Small Company HLS Fund		39,913		34,809		32,458		17,566
Hartford LargeCap Growth HLS Fund		968		13,191		458		—
Hartford MidCap HLS Fund		142,144		326,952		65,602		402,928
Hartford MidCap Growth HLS Fund		7,374		1,600		2,321		5,502
Hartford MidCap Value HLS Fund		40,878		131,152		49,607		99,548
Hartford Money Market HLS Fund		108,593		—		81,039		—
Hartford Mortgage Securities HLS Fund		25,479		—		57,422		—
Hartford Small Company HLS Fund		152,417		88,145		32,940		182,576
Hartford SmallCap Growth HLS Fund		2,786		68,074		5,050		65,224

­ ­  205  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

	For the Year Ended				For the Year Ended
	December 31, 2007				December 31, 2006
			Long-Term				Long-Term
	Ordinary Income		Capital Gains(a)		Ordinary Income		Capital Gains(a)
Hartford SmallCap Value HLS Fund	$	6,498	$	5,297	$	6,571	$	14,662
Hartford Stock HLS Fund		460,819		261,474		128,118		230,309
Hartford Total Return Bond HLS Fund		230,998		—		192,995		549
Hartford U.S. Government Securities HLS Fund		42,556		—		32,259		—
Hartford Value HLS Fund		12,009		33,289		5,204		8,991
Hartford Value Opportunities HLS Fund		26,838		72,992		34,290		42,628

(a) The Funds designate these distributions as long-term gain capital dividends per IRC code Sec. 852(b) (3) (C).

As of December 31, 2007, the components of distributable earnings (deficit) on tax basis were as follows:

											Total
	Undistributed		Undistributed		Accumulated			Unrealized			Accumulated
	Ordinary		Long-Term		Capital Gains			Appreciation			Earnings
	Income		Capital Gain		(Losses)*			(Depreciation)@			(Deficit)
Hartford Advisers HLS Fund	$	16,676	$	30,855	$	—		$	68,856		$	116,387
Hartford Capital Appreciation HLS Fund		288,623		871,235		—			1,666,605			2,826,463
Hartford Disciplined Equity HLS Fund		19,430		127,447		(15,437	)		202,876			334,316
Hartford Dividend and Growth HLS Fund		26,321		107,986		—			1,365,277			1,499,584
Hartford Equity Income HLS Fund		1,001		23,349		—			59,157			83,507
Hartford Fundamental Growth HLS Fund		8,938		913		—			5,113			14,964
Hartford Global Advisers HLS Fund		1,481		5,176		—			59,769			66,426
Hartford Global Communications HLS Fund		61		4,159		—			7,097			11,317
Hartford Global Financial Services HLS Fund		690		2,262		(742	)		2,243			4,453
Hartford Global Growth HLS Fund		3,881		34,060		—			324,273			362,214
Hartford Global Health HLS Fund		2,188		380		(489	)		46,492			48,571
Hartford Global Technology HLS Fund		—		—		(23,115	)		12,917			(10,198	)
Hartford Growth HLS Fund		3,084		12,569		—			86,931			102,584
Hartford Growth Opportunities HLS Fund		20,360		33,993		—			266,798			321,151
Hartford High Yield HLS Fund		2,107		—		(24,964	)		(28,862	)		(51,719	)
Hartford Index HLS Fund		1,868		18,727		—			315,035			335,630
Hartford International Growth HLS Fund		25,359		16,919		(920	)		147,598			188,956
Hartford International Opportunities HLS Fund		59,482		21,880		(7,187	)		365,426			439,601
Hartford International Small Company HLS Fund		3,296		6,299		(1,526	)		18,827			26,896
Hartford LargeCap Growth HLS Fund		76		16,838		(44,470	)		3,939			(23,617	)
Hartford MidCap HLS Fund		50,336		70,346		—			287,093			407,775
Hartford MidCap Growth HLS Fund		280		209		—			419			908
Hartford MidCap Value HLS Fund		25,591		123,258		(905	)		66,409			214,353
Hartford Mortgage Securities HLS Fund		1,345		—		(21,831	)		(10,749	)		(31,235	)
Hartford Small Company HLS Fund		—		4,833		(3,787	)		160,057			161,103
Hartford SmallCap Growth HLS Fund		3,134		3,943		—			(1,598	)		5,479
Hartford SmallCap Value HLS Fund		445		197		(533	)		(4,520	)		(4,411	)
Hartford Stock HLS Fund		20,496		6,404		—			38,544			65,444
Hartford Total Return Bond HLS Fund		14,701		—		(22,194	)		(66,357	)		(73,850	)
Hartford U.S. Government Securities HLS Fund		54,163		—		(28,874	)		(12,108	)		13,181
Hartford Value HLS Fund		6,907		19,554		—			82,969			109,430
Hartford Value Opportunities HLS Fund		1,783		1,487		(12,259	)		(17,164	)		(26,153	)

*	Certain Funds had capital loss carryforwards that are identified in Note 2(n).
@	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable primarily to the tax deferral of wash sale losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

­ ­  206  ­ ­

m)  Reclassification of Capital Accounts:

In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Funds have recorded reclassifications in their capital accounts. These reclassifications had no impact on the NAV per share of the Funds and are designed generally to present accumulated undistributed (distribution in excess of) net investment income and accumulated net realized gains (losses) on investments on a tax basis which is considered to be more informative to a shareholder. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as foreign currency, net operating losses and capital loss carryforward expiration that reduce capital gain distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of a Fund’s distributions may be shown in the accompanying Statements of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. For the year ended December 31, 2007, the Funds recorded the following reclassifications to increase (decrease) the accounts listed below.

	Undistributed			Accumulated Net
	Net Investment			Realized Gain
	Income			(Loss)			Paid-in-Capital
Hartford Advisers HLS Fund	$	(698	)	$	698		$	—
Hartford Capital Appreciation HLS Fund		(52,719	)		52,215			504
Hartford Disciplined Equity HLS Fund		(10	)		10			—
Hartford Dividend and Growth HLS Fund		(325	)		325			—
Hartford Equity Income HLS Fund		(444	)		444			—
Hartford Fundamental Growth HLS Fund		(4	)		4			—
Hartford Global Advisers HLS Fund		(2,610	)		2,610			—
Hartford Global Communications HLS Fund		4			(4	)		—
Hartford Global Financial Services HLS Fund		8			(8	)		—
Hartford Global Growth HLS Fund		2,132			(2,132	)		—
Hartford Global Health HLS Fund		(39	)		39			—
Hartford Global Technology HLS Fund		566			37			(603	)
Hartford Growth HLS Fund		(3	)		3			—
Hartford Growth Opportunities HLS Fund		(157	)		157			—
Hartford High Yield HLS Fund		(219	)		614			(395	)
Hartford Index HLS Fund		(409	)		394			15
Hartford International Growth HLS Fund		(535	)		535			—
Hartford International Opportunities HLS Fund		(662	)		662			—
Hartford International Small Company HLS Fund		1,323			(2,059	)		736
Hartford MidCap HLS Fund		8,442			(12,765	)		4,323
Hartford MidCap Growth HLS Fund		(9	)		8			1
Hartford MidCap Value HLS Fund		(360	)		277			83
Hartford Mortgage Securities HLS Fund		380			(380	)		—
Hartford Small Company HLS Fund		950			(2,104	)		1,154
Hartford SmallCap Growth HLS Fund		(221	)		221			—
Hartford SmallCap Value HLS Fund		(91	)		102			(11	)
Hartford Stock HLS Fund		(903	)		903			—
Hartford Total Return Bond HLS Fund		14,460			(14,453	)		(7	)
Hartford U.S. Government Securities HLS Fund		602			109			(711	)
Hartford Value HLS Fund		(12	)		12			—
Hartford Value Opportunities HLS Fund		(22	)		(43	)		65

n)  Capital Loss Carryforwards:

As of December 31, 2007 (tax-year-end), the following Funds had capital loss carryforwards for U.S. Federal income tax purposes:

	Year of Expiration
Fund	2008		2009		2010		2011		2012		2013		2014		2015		Total
Hartford Disciplined Equity HLS Fund	$	3,895	$	8,430	$	758	$	—	$	—	$	—	$	—	$	—	$	13,083
Hartford Global Technology HLS Fund		—		—		23,115		—		—		—		—		—		23,115
Hartford High Yield HLS Fund		3,479		875		—		13,116		—		—		2,846				20,316
Hartford International Opportunities HLS Fund		—		3,630		1,046		—		—		—		—		—		4,676
Hartford LargeCap Growth HLS Fund		—		17,945		24,574		1,605		346		—		—		—		44,470
Hartford Mortgage Securities HLS Fund		—		—		—		—		8,992		2,409		8,362		2,068		21,831
Hartford Total Return Bond HLS Fund		—		—		—		—		—		—		22,194		—		22,194
Hartford U.S. Government Securities HLS Fund		1,398		—		—		—		3,025		10,631		13,820		—		28,874

­ ­  207  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

As of December 31, 2007, the Funds elected to defer the following post October losses.

			Long-Term
Fund	Ordinary Income		Capital Gain
Hartford Disciplined Equity HLS Fund	$	—	$	2,354
Hartford Global Financial Services HLS Fund		—		742
Hartford Global Health HLS Fund		—		489
Hartford High Yield HLS Fund		—		4,648
Hartford International Growth HLS Fund		920		—
Hartford International Opportunities HLS Fund		2,509		—
Hartford International Small Company HLS Fund		1,526		—
Hartford MidCap Value HLS Fund		—		905
Hartford Small Company HLS Fund		—		3,787
Hartford SmallCap Value HLS Fund		—		533
Hartford Value Opportunities HLS Fund		—		12,259

Hartford High Yield HLS Fund had expiration of capital loss carryover in the amount of $395 in 2007.

Based on certain provisions in the IRC, various limitations regarding the future utilization of Hartford Disciplined Equity HLS Fund, Hartford Global Growth HLS Fund, Hartford High Yield HLS Fund, Hartford International Opportunities HLS Fund, Hartford Large Cap Growth HLS Fund and Hartford Total Return Bond HLS Fund carryforwards may apply.

o)

Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the Financial Accounting Standards Board (FASB) released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. Management has evaluated the implications of FIN 48, for all open tax years (tax years ended December 31, 2005-2007) and has determined there is no impact to the Funds’ financial statements.

p)

Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Funds’ shares are executed in accordance with the investment instructions of the contract holders or plan participants. The NAV of each Fund’s shares is determined as of the close of each business day of the Exchange. The NAV per share is determined separately for each class of each Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of a Fund’s shares received by an insurance company or plan prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the per-share NAV determined as of the close of the Exchange. Orders received by an insurance company or plan after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined per-share NAV.

Dividends are declared pursuant to a policy adopted by the Funds’ Board of Directors based upon the investment performance of the Funds. The policy of all Funds, except Hartford Money Market HLS Fund, is to pay dividends from net investment income and distribute realized capital gains, if any, at least once a year.

Hartford Money Market HLS Fund seeks to maintain a stable NAV per share of $1.00 by declaring a daily dividend from net investment income, including net short-term capital gains and losses, and by valuing its investments using the amortized cost method. Dividends are declared daily and distributed monthly.

Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include foreign currency gains and losses, losses deferred due to wash sale, adjustments related to Passive Foreign Investment Companies, certain derivatives and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Funds’ capital accounts (see Note 2 (m)).

q)  Illiquid and Restricted Securities — Each Fund is permitted to invest up to 15% of its net assets in illiquid securities, except for Hartford Money Market HLS Fund which may invest up to 10% in such securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine a Fund’s NAV per share. A Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on NAV. Each Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Funds’ Board of Directors.

­ ­  208  ­ ­

r)  Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Funds on a forward commitment or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Funds identify securities segregated in their records with value at least equal to the amount of the commitment. As of December 31, 2007, the Funds entered into outstanding when-issued or forward commitments as follows:

Fund	Cost
Hartford Capital Appreciation HLS Fund	$	4,022
Hartford Global Advisers HLS Fund		17,634
Hartford High Yield HLS Fund		8,809
Hartford Total Return Bond HLS Fund		139,067
Hartford U.S. Government Securities HLS Fund		50,602

s)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, lower rated bonds have higher credit risk. High yield bond prices can fall on bad news about the economy, an industry or a company. The share price, yield and total return of a Fund which holds securities with high yield bonds may fluctuate more than with less aggressive bond funds.
t)	Senior Floating Rate Interests — Certain Funds, as shown on the Schedule of Investments, may invest in senior floating rate interests. Senior floating rate interests hold the most senior position in the capital structure of a business entity (the “Borrower”), are typically secured by specific collateral and have a claim on the assets and/or stock of the Borrower that is senior to that held by subordinated debtholders and stockholders of the Borrower. Senior floating rate interests are typically structured and administered by a financial institution that acts as the agent of the lenders participating in the senior floating rate interest. Senior floating rate interests are typically rated below-investment-grade, which suggests they are more likely to default than investment-grade loans. A default could lead to non-payment of income which would result in a reduction of income to the Fund and there can be no assurance that the liquidation of any collateral would satisfy the Borrower’s obligation in the event of non-payment of scheduled interest or principal payments, or that such collateral could be liquidated.
u)	Prepayment Risks — Most senior floating rate interests, certain debt securities and interest-only securities allow for prepayment of principal without penalty. Senior floating rate interests and securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. Prepayment risk is a principal risk of mortgage-backed securities and certain asset-backed securities. Accordingly, the potential for the value of a senior floating rate interest or security to increase in response to interest rate declines is limited. For certain asset-backed securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity. Senior floating rate interests or debt securities purchased to replace a prepaid loan or a debt security may have lower yields than the yield on the prepaid loan or debt security.

Senior floating rate interests generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for the Borrower to repay, prepayments of senior floating rate interests may occur. As a result, the actual remaining maturity of senior floating rate interests held may be substantially less than the stated maturities shown in the Schedule of Investments.

v)

Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.

w)

Swaps — Certain Funds may enter into event linked swaps, including credit default swaps. The credit default swap market allows a Fund to manage credit risk through buying and selling credit protection on a specific issuer, an index, or a basket of issuers. A “buyer” of credit protection agrees to pay a counterparty to assume the credit risk of an issuer upon the occurrence of certain events. The “seller” of the protection receives periodic payments and agrees to assume the credit risk of an issuer upon the occurrence of certain events. A “seller’s” exposure is limited to the total notional amount of the credit default swap contract. A Fund will generally not buy protection on issuers that are not currently held by such Fund.

Certain Funds may enter into interest rate swaps. In a typical interest rate swap, one party agrees to make regular payments equal to a floating interest rate multiplied by a “notional principal amount,” in return for payments equal to a fixed rate multiplied by the same amount, for a specific period of time. If a swap agreement provides for payments in different currencies, the parties might agree to exchange the notional principal amount as well. Swaps may also depend on other prices or rates, such as the value of an index or mortgage prepayment rates. Certain Funds. as shown on the Schedule of Investments, had outstanding swaps as of December 31, 2007.

x)  Financial Accounting Standards Board Financial Accounting Standards No. 157 — In September 2006, FASB issued Statement on Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. FAS 157 is effective for the Funds’ financial statements with fiscal years beginning after November 15, 2007, and interim periods within those fiscal years. Management has evaluated the impact of the standard and does not believe the adoption of FAS 157 will impact the amounts reported in the financial statements; however, additional disclosures will be required about the inputs used to develop the measurements of fair value and the effect of certain measurements reported in the Statements of Operations for a fiscal period.

­ ­  209  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

3.  Expenses:

a)  Investment Management and Advisory Agreements — HL Investment Advisors, LLC (“HL Advisors”), an indirect wholly-owned subsidiary of The Hartford, serves as investment manager to the Funds pursuant to separate Investment Management Agreements with Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc. As investment manager, HL Advisors has overall investment supervisory responsibility for each Fund. In addition, HL Advisors provides administrative personnel, services, equipment and facilities and office space for proper operation of the Funds.

HL Advisors has contracted with Wellington for the provision of day-to-day investment management services for Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Disciplined Equity HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford Equity Income HLS Fund, Hartford Fundamental Growth HLS Fund, Hartford Global Advisers HLS Fund, Hartford Global Communications HLS Fund, Hartford Global Financial Services HLS Fund, Hartford Global Growth HLS Fund, Hartford Global Health HLS Fund, Hartford Global Technology HLS Fund, Hartford Growth HLS Fund, Hartford Growth Opportunities HLS Fund, Hartford International Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford International Small Company HLS Fund, Hartford MidCap HLS Fund, Hartford MidCap Value HLS Fund, Hartford Small Company HLS Fund, Hartford SmallCap Growth HLS Fund, Hartford Stock HLS Fund, Hartford Value HLS Fund and Hartford Value Opportunities HLS Fund in accordance with each Fund’s investment objective and policies.

In addition, HL Advisors has contracted with Hartford Investment Management for the provision of day-to-day investment management services for Hartford High Yield HLS Fund, Hartford Index HLS Fund, Hartford LargeCap Growth HLS Fund, Hartford MidCap Growth HLS Fund, Hartford Money Market HLS Fund, Hartford Mortgage Securities HLS Fund, Hartford Small Company HLS Fund, Hartford SmallCap Growth HLS Fund, Hartford Total Return Bond HLS Fund and Hartford U.S. Government Securities HLS Fund.

HL Advisors has also contracted with Kayne Anderson Rudnick Investment Management, LLC (“KAR”), Metropolitan West Capital Management, LLC (“MetWest Capital”) and SSgA Funds Management, Inc. (“SSgA FM”) for the provision of day-to-day investment management services for Hartford SmallCap Value HLS Fund.

Each Fund pays a fee to HL Advisors, a portion of which is used to compensate Hartford Investment Management, KAR, MetWest Capital, SSgA FM and Wellington, as applicable.

b)  Administrative Services Agreement — Under the Administrative Services Agreement between HLIC and the following Funds, Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Disciplined Equity HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford Equity Income HLS Fund, Hartford Fundamental Growth HLS Fund, Hartford Global Advisers HLS Fund, Hartford Global Communications HLS Fund, Hartford Global Financial Services HLS Fund, Hartford Global Growth HLS Fund, Hartford Global Health HLS Fund, Hartford Global Technology HLS Fund, Hartford Growth HLS Fund, Hartford High Yield HLS Fund, Hartford Index HLS Fund, Hartford International Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford International Small Company HLS Fund, Hartford MidCap HLS Fund, Hartford MidCap Value HLS Fund, Hartford Money Market HLS Fund, Hartford Mortgage Securities HLS Fund, Hartford Small Company HLS Fund, Hartford Stock HLS Fund, Hartford Total Return Bond HLS Fund and Hartford Value HLS Fund, HLIC provides administrative services to the Funds and receives monthly compensation at the annual rate of 0.20% of each Fund’s average daily net assets, except for Hartford Index HLS Fund. Hartford Index HLS Fund pays an administrative service fee of 0.20% for the first $5 billion in average net assets, 0.18% of average net assets for the next $5 billion and 0.17% for average net assets over $10 billion. The Funds assume and pay certain other expenses (including, but not limited to, accounting, custodian, state taxes and directors’ fees). Directors’ fees represent remuneration paid or accrued to directors not affiliated with HLIC or any other related company.

The schedules below reflect the rates of compensation paid to HL Advisors for investment advisory services and to HLIC for administrative services rendered during the year ended December 31, 2007; the rates are accrued daily and paid monthly.

Hartford Index HLS Fund

Average Daily Net Assets	Annual Rate
On first $2 billion		0.300%
Next $3 billion		0.200%
Next $5 billion		0.180%
Over $10 billion		0.170%

Hartford Money Market HLS Fund(1)
and Hartford Mortgage Securities HLS Fund

Average Daily Net Assets	Annual Rate
On first $2 billion		0.450%
On next $3 billion		0.400%
On next $5 billion		0.380%
Over $10 billion		0.370%

(1) Effective January 1, 2007, HL Advisors voluntarily agreed to waive management fees of 0.05% of average daily net assets until December 31, 2007. This waiver will be continued until December 31, 2008.

­ ­  210  ­ ­

Hartford Advisers HLS Fund

Average Daily Net Assets	Annual Rate
On first $250 million		0.680%
On next $250 million		0.655%
On next $500 million		0.645%
Over $1 billion		0.595%

Hartford U.S. Government Securities HLS Fund

Average Daily Net Assets	Annual Rate
On first $50 million		0.500%
On next $4.95 billion		0.450%
On next $5 billion		0.430%
Over $10 billion		0.420%

Hartford Capital Appreciation HLS Fund,
Hartford Disciplined Equity HLS Fund,
Hartford Dividend and Growth HLS Fund,
Hartford Global Advisers HLS Fund,
Hartford Global Growth HLS Fund,
Hartford International Opportunities HLS Fund
and Hartford MidCap HLS Fund

Average Daily Net Assets	Annual Rate
On first $250 million		0.775%
On next $250 million		0.725%
On next $500 million		0.675%
Over $1 billion		0.625%

Hartford Growth Opportunities HLS Fund,
Hartford SmallCap Growth HLS Fund
and Hartford Value Opportunities HLS Fund

Average Daily Net Assets	Annual Rate
On first $100 million		0.700%
Over $100 million		0.600%

Hartford Total Return Bond HLS Fund

Average Daily Net Assets	Annual Rate
On first $250 million		0.525%
On next $250 million		0.500%
On next $500 million		0.475%
On next $4 billion		0.450%
On next $5 billion		0.430%
Over $10 billion		0.420%

Hartford High Yield HLS Fund(2)

Average Daily Net Assets	Annual Rate
On first $250 million		0.775%
On next $250 million		0.725%
On next $500 million		0.675%
On next $4 billion		0.625%
On next $5 billion		0.605%
Over $10 billion		0.595%

(2)	HL Advisors voluntarily agreed to waive management fees of 0.05% of average daily net assets until December 31, 2007.
	Effective January 1, 2008, HL Advisors permanently reduced the management fees and consolidated the first two break points into a single breakpoint at $500 million. The new schedule is as follows:

Average Daily Net Assets	Annual Rate
On first $500 million		0.700%
On next $500 million		0.675%
On next $4 billion		0.625%
On next $5 billion		0.605%
Over $10 billion		0.595%

Hartford LargeCap Growth HLS Fund(3)

Average Daily Net Assets	Annual Rate
On first $500 million		0.650%
On next $500 million		0.600%
Over $1 billion		0.550%

(3) Effective November 13, 2006, HL Advisors voluntarily agreed to waive management fees of 0.21% of average daily net assets until December 31, 2007.

Hartford MidCap Growth HLS Fund(4)

Average Daily Net Assets	Annual Rate
On first $500 million		0.800%
On next $500 million		0.750%
Over $1 billion		0.700%

(4) HL Advisors voluntarily agreed to waive management fees of 0.20% of average daily net assets until December 31, 2007.

­ ­  211  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

Hartford Stock HLS Fund

Average Daily Net Assets	Annual Rate
On first $250 million		0.525%
On next $250 million		0.500%
On next $500 million		0.475%
Over $1 billion		0.450%

Hartford SmallCap Value HLS Fund

Average Daily Net Assets	Annual Rate
On first $50 million		0.900%
Over $50 million		0.850%

Hartford Equity Income HLS Fund,
Hartford Growth HLS Fund,
Hartford MidCap Value HLS Fund
and Hartford Value HLS Fund

Average Daily Net Assets	Annual Rate
On first $250 million		0.825%
On next $250 million		0.775%
On next $500 million		0.725%
Over $1 billion		0.675%

Hartford Global Communications HLS Fund,
Hartford Global Financial Services HLS Fund,
Hartford Global Health HLS Fund,
Hartford Global Technology HLS Fund,
Hartford International Growth HLS Fund
and Hartford International Small Company HLS Fund

Average Daily Net Assets	Annual Rate
On first $250 million		0.850%
On next $250 million		0.800%
Over $500 million		0.750%

Hartford Fundamental Growth HLS Fund(5)

Average Daily Net Assets	Annual Rate
On first $250 million		0.800%
On next $250 million		0.750%
Over $500 million		0.700%

(5) Effective March 30, 2007, HL Advisors agreed to permanently reduce its management fees for this fund. The schedule prior to March 30, 2007 was as follows:

Average Daily Net Assets	Annual Rate
On first $250 million		0.850%
On next $250 million		0.800%
Over $500 million		0.750%

Hartford Small Company HLS Fund

Average Daily Net Assets	Annual Rate
On first $250 million		0.775%
On next $250 million		0.725%
On next $500 million		0.675%
On next $500 million		0.600%
Over $1.5 billion		0.550%

c)  Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between HLIC and Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Disciplined Equity HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford Equity Income HLS Fund, Hartford Fundamental Growth HLS Fund, Hartford Global Advisers HLS Fund, Hartford Global Communications HLS Fund, Hartford Global Financial Services HLS Fund, Hartford Global Growth HLS Fund, Hartford Global Health HLS Fund, Hartford Global Technology HLS Fund, Hartford Growth HLS Fund, Hartford High Yield HLS Fund, Hartford Index HLS Fund, Hartford International Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford International Small Company HLS Fund, Hartford MidCap HLS Fund, Hartford MidCap Value HLS Fund, Hartford Money Market HLS Fund, Hartford Mortgage Securities HLS Fund, Hartford Small Company HLS Fund, Hartford Stock HLS Fund, Hartford Total Return Bond HLS Fund and Hartford Value HLS Fund, HLIC provides accounting services to the Funds and receives monthly compensation at the annual rate of 0.015% of each Fund’s average daily net assets. The Funds’ accounting services fees are accrued daily and paid monthly.

­ ­  212  ­ ­

Effective January 1, 2008, the rates of compensation paid to HLIC is as follows:

Hartford Capital Appreciation HLS Fund,
Hartford Global Advisers HLS Fund,
Hartford High Yield HLS Fund
and Hartford Total Return Bond HLS Fund

Average Daily Net Assets	Annual Rate
On first $5 billion		0.018%
On next $5 billion		0.016%
Over $10 billion		0.014%

Hartford Advisers HLS Fund,
Hartford International Growth HLS Fund,
Hartford International Opportunities HLS Fund
and Hartford International Small Company HLS Fund

Average Daily Net Assets	Annual Rate
On first $5 billion		0.016%
On next $5 billion		0.014%
Over $10 billion		0.012%

Hartford Dividend and Growth HLS Fund
and Hartford Global Growth HLS Fund

Average Daily Net Assets	Annual Rate
On first $5 billion		0.014%
On next $5 billion		0.012%
Over $10 billion		0.010%

Hartford Disciplined Equity HLS Fund,
Hartford MidCap HLS Fund,
Hartford Mortgage Securities HLS Fund
and Hartford Small Company HLS Fund

Average Daily Net Assets	Annual Rate
On first $5 billion		0.012%
Over $5 billion		0.010%

Hartford Equity Income HLS Fund,
Hartford Fundamental Growth HLS Fund,
Hartford Global Communications HLS Fund,
Hartford Global Financial Services HLS Fund,
Hartford Global Health HLS Fund,
Hartford Global Technology HLS Fund,
Hartford Growth HLS Fund,
Hartford Index HLS Fund,
Hartford MidCap Value HLS Fund,
Hartford Money Market HLS Fund,
Hartford Stock HLS Fund
and Hartford Value HLS Fund

Average Daily Net Assets	Annual Rate
All assets		0.010%

d)	Other Related Party Transactions — The Hartford provided certain legal services to the Funds, for which the Funds were charged $58 for the year ended December 31, 2007. Certain officers of the Funds are directors and/or officers of HLIA, Hartford Investment Management and/or The Hartford or its subsidiaries. For the year ended December 31, 2007, a portion of the Funds’ chief compliance officer’s salary was paid by the Funds in the amount of $137. Hartford Investor Services Company LLC (“HISC”), a wholly-owned subsidiary of The Hartford, provides transfer agent services to the Funds. HISC was compensated $106 for providing such services. The Funds accrue these fees daily and pay monthly.
e)	Operating Expenses — Allocable expenses incurred by the Funds are allocated to each Fund in proportion to the average daily net assets of each Fund, except where allocation of certain expenses is more fairly made directly to the Fund or to a specific class within a Fund. Non-allocable expenses are charged to each Fund based on specific identification.
f)	Fees Paid Indirectly — The Funds have entered into agreements with State Street Global Advisers, LLC and Frank Russell Securities, Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Funds’ expenses. In addition, the Funds’ custodian bank, State Street Bank & Trust, has also agreed to reduce its fees when the Funds maintain cash on deposit in the non-interest bearing custody account. For the year ended December 31, 2007, these amounts are included in the Statements of Operations.

­ ­  213  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	For the						For the						For the						For the
	Year Ended						Year Ended						Year Ended						Year Ended
	December 31, 2007						December 31, 2006						December 31, 2005						December 31, 2004
	Ratio of Expenses						Ratio of Expenses						Ratio of Expenses						Ratio of Expenses
	to Average Net Assets After						to Average Net Assets After						to Average Net Assets After						to Average Net Assets After
	Waivers and Offsets						Waivers and Offsets						Waivers and Offsets						Waivers and Offsets
Fund	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB			Class IA			Class IB
Hartford Advisers HLS Fund		0.63	%		0.88	%		0.62	%		0.87	%		0.64	%		0.89	%		0.66	%		0.91	%
Hartford Capital Appreciation HLS Fund		0.67			0.93			0.66			0.91			0.67			0.92			0.67			0.92
Hartford Disciplined Equity HLS Fund		0.70			0.95			0.71			0.96			0.72			0.97			0.74			0.99
Hartford Dividend and Growth HLS Fund		0.67			0.92			0.66			0.91			0.66			0.91			0.67			0.92
Hartford Equity Income HLS Fund		0.83			1.08			0.74			0.99			0.75			1.00			0.88			1.13
Hartford Fundamental Growth HLS Fund		0.86			1.11			0.83			1.08			0.89			1.14			0.86			1.11
Hartford Global Advisers HLS Fund		0.80			1.05			0.80			1.05			0.77			1.03			0.78			1.03
Hartford Global Communications HLS Fund		0.94			1.19			0.64			0.89			0.82			1.06			0.99			1.24
Hartford Global Financial Services HLS Fund		0.96			1.21			0.61			0.86			0.80			1.05			0.94			1.19
Hartford Global Growth HLS Fund		0.73			0.98			0.74			0.99			0.68			0.93			0.68			0.93
Hartford Global Health HLS Fund		0.87			1.12			0.87			1.12			0.86			1.11			0.86			1.11
Hartford Global Technology HLS Fund		0.90			1.15			0.93			1.18			0.91			1.16			0.83			1.08
Hartford Growth HLS Fund		0.83			1.08			0.82			1.07			0.82			1.07			0.83			1.08
Hartford Growth Opportunities HLS Fund		0.63			0.88			0.63			0.88			0.58			0.84			0.57			0.82
Hartford High Yield HLS Fund		0.72			0.97			0.72			0.97			0.76			1.01			0.77			1.02
Hartford Index HLS Fund		0.33			0.58			0.33			0.58			0.42			0.67			0.44			0.69
Hartford International Growth HLS Fund		0.82			1.07			0.85			1.10			0.86			1.11			0.89			1.14
Hartford International Opportunities HLS Fund		0.70			0.95			0.73			0.98			0.74			0.99			0.74			0.99
Hartford International Small Company HLS Fund		0.88			1.13			0.92			1.17			0.97			1.22			1.01			1.26
Hartford LargeCap Growth HLS Fund		0.47			NA			0.78			NA			0.81			NA			0.90			NA
Hartford MidCap HLS Fund		0.68			0.93			0.66			0.91			0.68			0.93			0.68			0.93
Hartford MidCap Growth HLS Fund		0.65			NA			0.78			NA			0.81			NA			0.94			NA
Hartford MidCap Value HLS Fund		0.79			1.04			0.77			1.02			0.78			1.03			0.78			1.03
Hartford Money Market HLS Fund		0.42			0.67			0.48			0.73			0.49			0.74			0.48			0.73
Hartford Mortgage Securities HLS Fund		0.48			0.73			0.49			0.74			0.49			0.74			0.49			0.74
Hartford Small Company HLS Fund		0.70			0.95			0.70			0.95			0.71			0.96			0.70			0.95
Hartford SmallCap Growth HLS Fund		0.63			0.88			0.62			0.87			0.62			0.87			0.63			0.88
Hartford SmallCap Value HLS Fund		0.96			1.21			0.97			1.22			0.92			1.17			0.92			1.17
Hartford Stock HLS Fund		0.48			0.73			0.47			0.72			0.48			0.73			0.48			0.73
Hartford Total Return Bond HLS Fund		0.49			0.74			0.49			0.74			0.50			0.75			0.50			0.75
Hartford U.S. Government Securities HLS Fund		0.47			0.72			0.48			0.73			0.47			0.72			0.47			0.72
Hartford Value HLS Fund		0.84			1.09			0.84			1.09			0.85			1.10			0.85			1.10
Hartford Value Opportunities HLS Fund		0.63			0.88			0.64			0.89			0.64			0.89			0.66			0.91

g)  Distribution Plan for Class IB Shares — All Funds with Class IB shares have adopted a Distribution Plan pursuant to Rule 12b-1 under the 1940 Act for the Class IB shares. Pursuant to the Distribution Plan, each Fund compensates the Distributor, Hartford Securities Distribution Company, Inc. (a wholly owned, ultimate subsidiary of Hartford Life, Inc. (“Hartford Life”)) from assets attributable to the Class IB shares for services rendered and expenses borne in connection with activities primarily intended to result in the sale of Class IB shares.

The Distribution Plan provides that each Fund may pay annually up to 0.25% of the average daily net assets of a Fund attributable to its Class IB shares for activities primarily intended to result in the sale of Class IB shares. Under the terms of the Distribution Plan and the principal underwriting agreement, each Fund is authorized to make payments monthly to the Distributor which may be used to pay or reimburse entities providing distribution and shareholder servicing with respect to the Class IB shares for such entities’ fees or expenses incurred or paid in that regard. The Funds’ distribution fees are accrued daily and paid monthly.

­ ­  214  ­ ­

h)  Payment from (to) Affiliate — The Funds are available for purchase by the separate accounts of different variable universal life policies, variable annuity products, and funding agreements and they are offered directly to certain qualified retirement plans (collectively, “Products”). Although existing Products contain transfer restrictions, some Products, particularly older variable annuity products, do not contain restrictions on the frequency of transfers. In addition, as the result of the settlement of litigation against Hartford Life (the issuers of such variable annuity products), the Funds’ ability to restrict transfers by certain owners of older variable annuity products was limited. During 2006, these annuity owners surrendered the older variable annuity contracts that were the subject of prior litigation. In February 2005, Hartford Life agreed with the Boards of Directors of the Funds to indemnify the Funds for any material harm caused to the Funds from frequent trading by these contract owners. Pursuant to the agreement, the following amounts have been paid (received) to (from) the Funds indicated in 2006 and 2005.

Fund	2006			2005
Hartford Disciplined Equity HLS Fund	$	104		$	—
Hartford Dividend and Growth HLS Fund		398			—
Hartford Growth HLS Fund		253			440
Hartford Growth Opportunities HLS Fund		257			1,140
Hartford High Yield HLS Fund		129			4,027
Hartford Index HLS Fund		90			—
Hartford MidCap HLS Fund		—			513
Hartford MidCap Value HLS Fund		821			445
Hartford Small Company HLS Fund		189			972
Hartford SmallCap Growth HLS Fund		(350	)		1,892
Hartford Stock HLS Fund		259			—
Hartford Total Return Bond HLS Fund		107			—
Hartford Value Opportunities HLS Fund		220			—

In 2005, Hartford SmallCap Growth HLS Fund recorded a receivable from affiliate for $494 as an estimate of the total due from affiliate for the calendar year. When the final calculation was completed for the full indemnification period (which ended in 2006), it was determined the payment from affiliate should only be $144. The table above reflects the net payment from affiliate.

On November 8, 2006, the SEC issued an order setting forth the terms of a settlement reached with three subsidiaries of The Hartford that resolves the SEC’s Division of Enforcement’s investigation of aspects of The Hartford’s variable annuity and mutual fund operations related to directed brokerage and revenue sharing. Under the terms of the settlement, The Hartford paid a total of $39.6 million to the Funds in the amounts indicated below. These amounts were recorded on November 8, 2006 and paid on November 22, 2006. The Hartford settled this matter without admitting or denying the findings of the SEC.

Fund	Reimbursement Amount
Hartford Advisers HLS Fund	$	6,804
Hartford Capital Appreciation HLS Fund		11,567
Hartford Disciplined Equity HLS Fund		501
Hartford Dividend and Growth HLS Fund		3,856
Hartford Fundamental Growth HLS Fund		110
Hartford Global Advisers HLS Fund		572
Hartford Global Communications HLS Fund		11
Hartford Global Financial Services HLS Fund		6
Hartford Global Growth HLS Fund		3,344
Hartford Global Health HLS Fund		116
Hartford Global Technology HLS Fund		88
Hartford Growth HLS Fund		33
Hartford Growth Opportunities HLS Fund		841
Hartford International Growth HLS Fund		11
Hartford International Opportunities HLS Fund		314
Hartford International Small Company HLS Fund		11
Hartford MidCap HLS Fund		3,817
Hartford MidCap Value HLS Fund		159
Hartford Small Company HLS Fund		1,650
Hartford SmallCap Growth HLS Fund		121
Hartford Stock HLS Fund		5,561
Hartford Value HLS Fund		33
Hartford Value Opportunities HLS Fund		60

On April 20, 2007, Hartford MidCap Growth HLS Fund was reimbursed $114 in trading reimbursements relating to the change in portfolio managers of the Fund.

On May 2, 2007 and June 8, 2007, Hartford Small Company HLS Fund was reimbursed $2,514 in trading reimbursements and $486 for incorrect IPO allocations, respectively.

­ ­  215  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

The total return in the financial highlights includes the impact of the payment from (to) affiliates. The tables below show the impact of each of the payments from (to) affiliates and what the total return for the years ended December 31, 2007, 2006 and 2005 would have been excluding the payments from (to) affiliates:

						Impact from Payment
	Impact from Payment					from Affiliate for						Total Return Excluding
	from Affiliate for Trading					Incorrect IPO						Payments from
	Reimbursements for the					Allocations for the						Affiliate for the
	Year Ended					Year Ended						Year Ended
	December 31, 2007					December 31, 2007						December 31, 2007
Fund	Class IA		Class IB			Class IA			Class IB			Class IA			Class IB
Hartford MidCap Growth HLS Fund		0.20%		—			—			—			11.43	%		—
Hartford Small Company HLS Fund		0.16%		0.16	%		0.03	%		0.03	%		14.01	%		13.73	%

	Impact from Payment						Impact from Payment						Total Return Excluding
	from Affiliate for						from (to) Affiliate for						Payments from (to)
	SEC Settlement						Unrestricted Transfers						Affiliate
	for the Year Ended						for the Year Ended						for the Year Ended
	December 31, 2006						December 31, 2006						December 31, 2006
Fund	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB
Hartford Advisers HLS Fund		0.09	%		0.09	%		—	%		—	%		10.61	%		10.34	%
Hartford Capital Appreciation HLS Fund		0.09			0.09			—			—			16.52			16.23
Hartford Disciplined Equity HLS Fund		0.03			0.03			0.01			0.01			12.41			12.13
Hartford Dividend and Growth HLS Fund		0.06			0.06			0.01			0.01			20.29			19.99
Hartford Fundamental Growth HLS Fund		0.14			0.15			—			—			9.58			9.30
Hartford Global Advisers HLS Fund		0.17			0.16			—			—			8.67			8.40
Hartford Global Communications HLS Fund		0.05			0.05			—			—			21.98			21.67
Hartford Global Financial Services HLS Fund		0.02			0.02			—			—			20.79			20.49
Hartford Global Growth HLS Fund		0.31			0.32			—			—			13.83			13.54
Hartford Global Health HLS Fund		0.03			0.03			—			—			11.16			10.88
Hartford Global Technology HLS Fund		0.06			0.07			—			—			10.29			10.01
Hartford Growth HLS Fund		0.01			0.01			0.04			0.04			4.56			4.30
Hartford Growth Opportunities HLS Fund		0.07			0.07			0.02			0.02			11.96			11.70
Hartford High Yield HLS Fund		—			—			0.02			0.02			11.15			10.87
Hartford Index HLS Fund		—			—			0.01			0.01			15.45			15.16
Hartford International Growth HLS Fund		—			—			—			—			24.08			23.77
Hartford International Opportunities HLS Fund		0.02			0.02			—			—			24.44			24.13
Hartford International Small Company HLS Fund		0.01			—			—			—			29.33			29.01
Hartford MidCap HLS Fund		0.15			0.15			—			—			11.59			11.31
Hartford MidCap Value HLS Fund		0.02			0.02			0.08			0.09			17.78			17.48
Hartford Small Company HLS Fund		0.14			0.14			—			—			14.29			14.00
Hartford SmallCap Growth HLS Fund		0.01			0.01			(0.03	)		(0.03	)		6.88			6.61
Hartford Stock HLS Fund		0.11			0.12			0.01			0.01			14.53			14.24
Hartford Total Return Bond HLS Fund		—			—			—			—			4.80			4.54
Hartford Value HLS Fund		0.01			0.01			—			—			21.81			21.51
Hartford Value Opportunities HLS Fund		0.01			0.01			0.04			0.05			18.97			18.67

	Impact from Payment
	from Affiliate for						Total Return Excluding
	Unrestricted Transfers						Payments from Affiliate
	for the Year Ended						for the Year Ended
	December 31, 2005						December 31, 2005
Fund	Class IA			Class IB			Class IA			Class IB
Hartford Growth HLS Fund		0.09	%		0.09	%		4.58	%		4.33	%
Hartford Growth Opportunities HLS Fund		0.11			0.11			16.20			15.91
Hartford High Yield HLS Fund		0.57			0.56			1.56			1.29
Hartford MidCap HLS Fund		0.02			0.02			16.76			16.47
Hartford MidCap Value HLS Fund		0.04			0.04			9.95			9.67
Hartford Small Company HLS Fund		0.10			0.10			20.91			20.61
Hartford SmallCap Growth HLS Fund		0.22			0.22			10.80			10.56

­ ­  216  ­ ­

4.  Investment Transactions:

For the year ended December 31, 2007, the cost of purchases and proceeds from sales of securities for Hartford Money Market HLS Fund were $36,997,029 and $36,190,030, respectively. The cost of purchases and proceeds from sales of securities (excluding short-term investments) for the other portfolios were as follows:

	Cost of Purchases		Sales Proceeds		Cost of
	Excluding		Excluding		Purchases for		Sales Proceeds for
	U.S. Government		U.S. Government		U.S. Government		U.S. Government
Fund	Obligations		Obligations		Obligations		Obligations
Hartford Advisers HLS Fund	$	7,297,673	$	8,014,406	$	232,579	$	741,095
Hartford Capital Appreciation HLS Fund		14,657,072		16,844,548		—		—
Hartford Disciplined Equity HLS Fund		1,416,390		1,373,895		—		—
Hartford Dividend and Growth HLS Fund		1,988,591		2,401,686		—		—
Hartford Equity Income HLS Fund		123,316		150,055		—		—
Hartford Fundamental Growth HLS Fund		149,215		149,884		—		—
Hartford Global Advisers HLS Fund		441,127		461,578		47,810		43,795
Hartford Global Communications HLS Fund		30,164		34,509		—		—
Hartford Global Financial Services HLS Fund		19,970		27,466		—		—
Hartford Global Growth HLS Fund		933,370		1,108,732		—		—
Hartford Global Health HLS Fund		163,677		229,528		—		—
Hartford Global Technology HLS Fund		224,664		242,070		—		—
Hartford Growth HLS Fund		554,360		633,738		—		—
Hartford Growth Opportunities HLS Fund		2,005,785		1,964,268		—		—
Hartford High Yield HLS Fund		1,034,376		1,103,372		—		—
Hartford Index HLS Fund		75,404		355,949		—		—
Hartford International Growth HLS Fund		2,349,989		2,313,684		—		—
Hartford International Opportunities HLS Fund		2,926,210		2,967,516		—		—
Hartford International Small Company HLS Fund		436,938		465,902		—		—
Hartford LargeCap Growth HLS Fund		369,518		353,854		—		—
Hartford MidCap HLS Fund		2,379,893		2,598,479		—		—
Hartford MidCap Growth HLS Fund		125,824		132,583		—		—
Hartford MidCap Value HLS Fund		538,526		744,761		—		—
Hartford Mortgage Securities HLS Fund		1,446,914		1,526,855		—		4,436
Hartford Small Company HLS Fund		2,619,405		2,590,879		—		—
Hartford SmallCap Growth HLS Fund		798,829		954,686		—		—
Hartford SmallCap Value HLS Fund		48,166		63,484		—		—
Hartford Stock HLS Fund		4,841,818		5,805,533		—		—
Hartford Total Return Bond HLS Fund		10,893,207		10,331,038		4,771,214		4,883,768
Hartford U.S. Government Securities HLS Fund		3,247,348		3,277,719		448,422		325,354
Hartford Value HLS Fund		160,510		152,935		—		—
Hartford Value Opportunities HLS Fund		388,851		437,093		—		—

5.  Line of Credit:

The Funds, except for Hartford Money Market HLS Fund, participate in a $1 billion committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Funds are required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the year ended December 31, 2007, the Funds did not have any borrowings under this facility.

6.  Fund Mergers:

Reorganization of certain series of Hartford HLS Series Fund II, Inc.  At a special meeting of shareholders, held on January 23, 2007, shareholders of Hartford Capital Opportunities HLS Fund and Hartford LargeCap Growth HLS Fund approved a proposed Plan of Reorganization providing for the acquisition of all of the assets and liabilities of Hartford Capital Opportunities HLS Fund and Hartford LargeCap Growth HLS Fund by Hartford Blue Chip Stock HLS Fund.

Under the terms of the Plan of Reorganization, and pursuant to the approval by shareholders of Hartford Capital Opportunities HLS Fund and Hartford LargeCap Growth HLS Fund, the net assets were acquired by Hartford Blue Chip HLS Fund on February 2, 2007. Hartford Blue Chip Stock HLS Fund acquired the net assets of Hartford Capital Opportunities HLS Fund and Hartford LargeCap Growth HLS Fund in exchange for shares in Hartford Blue Chip Stock HLS Fund, which were distributed pro rata to Hartford Capital Opportunities HLS Fund and Hartford LargeCap Growth HLS Fund respective shareholders on February 2, 2007, in complete liquidation of both Hartford Capital Opportunities HLS Fund and Hartford LargeCap Growth HLS Fund.

­ ­  217  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

The mergers were accomplished by tax free exchanges as detailed below:

Hartford Blue Chip Stock HLS Fund*	Class IA
Net assets of Hartford Capital Opportunities HLS Fund on February 2, 2007	$	10,965
Net assets of Hartford LargeCap Growth HLS Fund on February 2, 2007	$	58,948
Hartford Capital Opportunities HLS Fund shares exchanged		1,425
Hartford LargeCap Growth HLS Fund shares exchanged		5,714
Hartford Blue Chip Stock HLS Fund shares issued		3,338
Net assets of Hartford Blue Chip Stock HLS Fund immediately before the merger	$	141,889
Net assets of Hartford Blue Chip Stock HLS Fund immediately after the merger	$	211,802

Hartford Capital Opportunities HLS Fund and Hartford LargeCap Growth HLS Fund had the following unrealized appreciation, accumulated net realized losses and capital stock as of February 2, 2007.

	Unrealized		Accumulated Net
Fund	Appreciation		Realized Losses**			Capital Stock
Hartford Capital Opportunities HLS Fund	$	1,635	$	(9,563	)	$	18,893
Hartford LargeCap Growth HLS Fund		7,836		(38,143	)		89,255

     *  Following the above referenced merger, Hartford Blue Chip Stock HLS Fund was then renamed to Hartford LargeCap Growth HLS Fund.

Reorganization of certain series of Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.  At a special meeting of shareholders, held on September 25, 2007, shareholders of Hartford International Stock HLS Fund approved a proposed Plan of Reorganization providing for the acquisition of all of the assets and liabilities of Hartford International Stock HLS Fund by Hartford International Opportunities HLS Fund.

Under the terms of the Plan of Reorganization, and pursuant to the approval by shareholders of Hartford International Stock HLS Fund, the net assets were acquired by Hartford International Opportunities HLS Fund on October 12, 2007. Hartford International Opportunities HLS Fund acquired the net assets of Hartford International Stock HLS Fund in exchange for shares in Hartford International Opportunities HLS Fund, which were distributed pro rata to Hartford International Stock HLS Fund shareholders on October 12, 2007, in complete liquidation of Hartford International Stock HLS Fund.

The merger was accomplished by a tax free exchange as detailed below:

Hartford International Opportunities HLS Fund	Class IA
Net assets of Hartford International Stock HLS Fund on October 12, 2007	$	99,957
Hartford International Stock HLS Fund shares exchanged		5,631
Hartford International Opportunities HLS Fund shares issued		5,347
Net assets of Hartford International Opportunities HLS Fund immediately before the merger	$	2,355,950
Net assets of Hartford International Opportunities HLS Fund immediately after the merger	$	2,455,907

Hartford International Stock HLS Fund had the following unrealized appreciation, accumulated net realized losses and capital stock as of October 12, 2007.

						Accumulated
						Distributions in
	Unrealized		Accumulated Net			Excess of Net
Fund	Appreciation		Realized Losses			Investment Loss**			Capital Stock
Hartford International Stock HLS Fund	$	19,805	$	(57	)	$	(2	)	$	80,211

** The utilization of the tax capital loss carryover of the acquired funds may be limited by current income tax rules and regulations.

­ ­  218  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Financial Highlights

	— Selected Per-Share Data(5) —
							Net													— Ratios and Supplemental Data —
							Realized																Net										Ratio of			Ratio of			Ratio of
							and							Distributions									Increase										Expenses			Expenses			Net
	Net Asset		Net				Unrealized		Total		Dividends			from									(Decrease)			Net Asset					Net Assets		to Average			to Average			Investment
	Value at		Investment		Payment		Gain		from		from Net			Realized			Distributions						in Net			Value at					at End of		Net Assets			Net Assets			Income			Portfolio
	Beginning		Income		from (to)		(Loss) on		Investment		Investment			Capital			from			Total			Asset			End		Total			Period		Before			After			to Average			Turnover
	of Period		(Loss)		Affiliate		Investments		Operations		Income			Gains			Capital			Distributions			Value			of Period		Return(3)			(000’s)		Waivers(4)			Waivers(4)			Net Assets			Rate(6)
Hartford Advisers HLS Fund
For the Year Ended December 31, 2007
Class IA	$	22.60	$	0.55	$	—	$	0.90	$	1.45	$	(0.53	)	$	(2.55	)	$	—		$	(3.08	)	$	(1.63	)	$	20.97		6.64	%	$	6,291,220		0.63	%		0.63	%		2.13	%		47	%
Class IB		22.78		0.49		—		0.92		1.41		(0.46	)		(2.55	)		—			(3.01	)		(1.60	)		21.18		6.37			1,080,254		0.88			0.88			1.88			—
For the Year Ended December 31, 2006
Class IA		22.53		0.58		0.02		1.81		2.41		(0.57	)		(1.77	)		—			(2.34	)		0.07			22.60		10.70	(7)		7,207,926		0.64			0.64			2.24			87
Class IB		22.70		0.51		0.02		1.83		2.36		(0.51	)		(1.77	)		—			(2.28	)		0.08			22.78		10.43	(7)		1,252,293		0.89			0.89			1.99			—
For the Year Ended December 31, 2005
Class IA		23.04		0.54		—		1.12		1.66		(0.77	)		(1.04	)		(0.36	)		(2.17	)		(0.51	)		22.53		7.24			8,157,354		0.66			0.65			1.96			89
Class IB		23.17		0.47		—		1.15		1.62		(0.69	)		(1.04	)		(0.36	)		(2.09	)		(0.47	)		22.70		6.97			1,366,216		0.91			0.90			1.72			—
For the Year Ended December 31, 2004
Class IA		22.67		0.51		—		0.33		0.84		(0.47	)		—			—			(0.47	)		0.37			23.04		3.74			9,699,374		0.67			0.67			2.16			36
Class IB		22.81		0.48		—		0.30		0.78		(0.42	)		—			—			(0.42	)		0.36			23.17		3.48			1,462,319		0.92			0.92			1.91			—
For the Year Ended December 31, 2003
Class IA		19.59		0.42		—		3.18		3.60		(0.52	)		—			—			(0.52	)		3.08			22.67		18.49			10,358,449		0.67			0.67			2.03			48
Class IB		19.72		0.41		—		3.16		3.57		(0.48	)		—			—			(0.48	)		3.09			22.81		18.20			1,263,641		0.92			0.92			1.78			—
Hartford Capital Appreciation HLS Fund
For the Year Ended December 31, 2007
Class IA		53.49		0.35		—		8.36		8.71		(0.07	)		(9.67	)		—			(9.74	)		(1.03	)		52.46		16.83			12,123,834		0.67			0.67			0.68			101
Class IB		53.21		0.22		—		8.28		8.50		(0.03	)		(9.67	)		—			(9.70	)		(1.20	)		52.01		16.53			2,933,905		0.92			0.92			0.42			—
For the Year Ended December 31, 2006
Class IA		52.99		0.50		0.04		7.88		8.42		(0.76	)		(7.16	)		—			(7.92	)		0.50			53.49		16.61	(7)		11,746,831		0.67			0.67			0.82			73
Class IB		52.75		0.36		0.04		7.83		8.23		(0.61	)		(7.16	)		—			(7.77	)		0.46			53.21		16.32	(7)		2,810,587		0.92			0.92			0.57			—
For the Year Ended December 31, 2005
Class IA		53.43		0.45		—		7.57		8.02		(0.52	)		(7.94	)		—			(8.46	)		(0.44	)		52.99		15.55			11,317,561		0.70			0.70			0.78			97
Class IB		53.18		0.25		—		7.59		7.84		(0.33	)		(7.94	)		—			(8.27	)		(0.43	)		52.75		15.26			2,793,612		0.95			0.95			0.53			—
For the Year Ended December 31, 2004
Class IA		44.91		0.35		—		8.34		8.69		(0.17	)		—			—			(0.17	)		8.52			53.43		19.36			10,751,945		0.70			0.70			0.77			89
Class IB		44.76		0.27		—		8.26		8.53		(0.11	)		—			—			(0.11	)		8.42			53.18		19.07			2,505,798		0.95			0.95			0.52			—
For the Year Ended December 31, 2003
Class IA		31.70		0.26		—		13.17		13.43		(0.22	)		—			—			(0.22	)		13.21			44.91		42.38			8,912,749		0.69			0.69			0.77			94
Class IB		31.63		0.19		—		13.10		13.29		(0.16	)		—			—			(0.16	)		13.13			44.76		42.02			1,579,399		0.94			0.94			0.52			—
Hartford Disciplined Equity HLS Fund
For the Year Ended December 31, 2007
Class IA		14.08		0.16		—		1.01		1.17		(0.15	)		(0.05	)		—			(0.20	)		0.97			15.05		8.34			1,566,652		0.70			0.70			1.04			75
Class IB		14.01		0.13		—		1.00		1.13		(0.12	)		(0.05	)		—			(0.17	)		0.96			14.97		8.07			339,877		0.95			0.95			0.79			—
For the Year Ended December 31, 2006
Class IA		12.66		0.14		0.01		1.42		1.57		(0.15	)		—			—			(0.15	)		1.42			14.08		12.45	(7)		1,401,619		0.72			0.72			1.19			63
Class IB		12.58		0.13		0.01		1.39		1.53		(0.10	)		—			—			(0.10	)		1.43			14.01		12.17	(7)		354,559		0.97			0.97			0.93			—
For the Year Ended December 31, 2005
Class IA		12.02		0.12		—		0.67		0.79		(0.15	)		—			—			(0.15	)		0.64			12.66		6.58			1,019,703		0.74			0.74			1.07			58
Class IB		11.93		0.08		—		0.68		0.76		(0.11	)		—			—			(0.11	)		0.65			12.58		6.31			340,108		0.99			0.99			0.82			—
For the Year Ended December 31, 2004
Class IA		11.20		0.16		—		0.79		0.95		(0.13	)		—			—			(0.13	)		0.82			12.02		8.41			770,938		0.75			0.75			1.53			62
Class IB		11.14		0.14		—		0.76		0.90		(0.11	)		—			—			(0.11	)		0.79			11.93		8.14			270,171		1.00			1.00			1.28			—
For the Year Ended December 31, 2003
Class IA		8.80		0.07		—		2.45		2.52		(0.12	)		—			—			(0.12	)		2.40			11.20		28.82			685,888		0.78			0.78			0.89			73
Class IB		8.75		0.05		—		2.43		2.48		(0.09	)		—			—			(0.09	)		2.39			11.14		28.50			155,810		1.03			1.03			0.64			—
Hartford Dividend and Growth HLS Fund
For the Year Ended December 31, 2007
Class IA		22.79		0.42		—		1.44		1.86		(0.41	)		(1.89	)		—			(2.30	)		(0.44	)		22.35		8.26			5,842,788		0.67			0.67			1.70			27
Class IB		22.72		0.37		—		1.42		1.79		(0.34	)		(1.89	)		—			(2.23	)		(0.44	)		22.28		7.98			1,501,363		0.92			0.92			1.45			—
For the Year Ended December 31, 2006
Class IA		20.74		0.40		0.01		3.77		4.18		(0.41	)		(1.72	)		—			(2.13	)		2.05			22.79		20.36	(7)		5,671,552		0.67			0.67			1.77			27
Class IB		20.68		0.35		0.01		3.74		4.10		(0.34	)		(1.72	)		—			(2.06	)		2.04			22.72		20.06	(7)		1,603,952		0.92			0.92			1.52			—
For the Year Ended December 31, 2005
Class IA		20.83		0.36		—		0.87		1.23		(0.40	)		(0.92	)		—			(1.32	)		(0.09	)		20.74		5.96			4,978,773		0.67			0.67			1.70			26
Class IB		20.76		0.29		—		0.89		1.18		(0.34	)		(0.92	)		—			(1.26	)		(0.08	)		20.68		5.70			1,506,556		0.92			0.92			1.45			—
For the Year Ended December 31, 2004
Class IA		18.77		0.32		—		2.01		2.33		(0.27	)		—			—			(0.27	)		2.06			20.83		12.42			4,719,663		0.68			0.68			1.73			27
Class IB		18.72		0.27		—		2.00		2.27		(0.23	)		—			—			(0.23	)		2.04			20.76		12.14			1,393,412		0.93			0.93			1.48			—

­ ­  219  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Financial Highlights — (continued)

	— Selected Per-Share Data(5) —
							Net												— Ratios and Supplemental Data —
							Realized															Net										Ratio of			Ratio of			Ratio of
							and							Distributions								Increase										Expenses			Expenses			Net
	Net Asset		Net				Unrealized		Total		Dividends			from								(Decrease)			Net Asset					Net Assets		to Average			to Average			Investment
	Value at		Investment		Payment		Gain		from		from Net			Realized			Distributions					in Net			Value at					at End of		Net Assets			Net Assets			Income			Portfolio
	Beginning		Income		from (to)		(Loss) on		Investment		Investment			Capital			from		Total			Asset			End		Total			Period		Before			After			to Average			Turnover
	of Period		(Loss)		Affiliate		Investments		Operations		Income			Gains			Capital		Distributions			Value			of Period		Return(3)			(000’s)		Waivers(4)			Waivers(4)			Net Assets			Rate(6)
Hartford Dividend and Growth HLS Fund — (continued)
For the Year Ended December 31, 2003
Class IA	$	15.09	$	0.24	$	—	$	3.79	$	4.03	$	(0.25	)	$	(0.10	)	$	—	$	(0.35	)	$	3.68		$	18.77		26.80	%	$	3,927,415		0.69	%		0.69	%		1.61	%		31	%
Class IB		15.07		0.21		—		3.76		3.97		(0.22	)		(0.10	)		—		(0.32	)		3.65			18.72		26.48			902,779		0.94			0.94			1.36			—
Hartford Equity Income HLS Fund
For the Year Ended December 31, 2007(8)
Class IA		14.20		0.33		—		0.66		0.99		(0.31	)		(0.58	)		—		(0.89	)		0.10			14.30		6.94			390,396		0.84			0.84			2.21			26
Class IB		14.19		0.29		—		0.67		0.96		(0.27	)		(0.58	)		—		(0.85	)		0.11			14.30		6.68			72,717		1.09			1.09			1.96			—
For the Year Ended December 31, 2006
Class IA		12.01		0.26		—		2.22		2.48		(0.26	)		(0.03	)		—		(0.29	)		2.19			14.20		20.79			360,210		0.85			0.75			2.32			28
Class IB		11.98		0.25		—		2.20		2.45		(0.21	)		(0.03	)		—		(0.24	)		2.21			14.19		20.49			106,733		1.10			1.00			2.07			—
For the Year Ended December 31, 2005
Class IA		11.64		0.21		—		0.36		0.57		(0.20	)		—			—		(0.20	)		0.37			12.01		4.81			231,151		0.86			0.76			2.27			21
Class IB		11.62		0.17		—		0.36		0.53		(0.17	)		—			—		(0.17	)		0.36			11.98		4.56			79,417		1.11			1.01			2.03			—
For the Year Ended December 31, 2004
Class IA		10.75		0.12		—		0.89		1.01		(0.12	)		—			—		(0.12	)		0.89			11.64		9.43			90,197		0.90			0.90			1.99			18
Class IB		10.74		0.10		—		0.88		0.98		(0.10	)		—			—		(0.10	)		0.88			11.62		9.16			24,876		1.15			1.15			1.74			—
From inception October 31, 2003 through December 31, 2003
Class IA		10.00		0.02		—		0.75		0.77		(0.02	)		—			—		(0.02	)		0.75			10.75		7.65	(2)		8,511		1.13	(1)		1.13	(1)		1.50	(1)		2
Class IB		10.00		0.02		—		0.74		0.76		(0.02	)		—			—		(0.02	)		0.74			10.74		7.59	(2)		1,609		1.38	(1)		1.38	(1)		1.25	(1)		—
Hartford Fundamental Growth HLS Fund (formerly known as Hartford Focus HLS Fund)
For the Year Ended December 31, 2007
Class IA		10.56		0.03		—		1.54		1.57		(0.01	)		(1.02	)		—		(1.03	)		0.54			11.10		15.12			59,053		0.86			0.86			0.27			177
Class IB		10.54		—		—		1.53		1.53		(0.01	)		(1.02	)		—		(1.03	)		0.50			11.04		14.83			34,968		1.11			1.11			0.02			—
For the Year Ended December 31, 2006
Class IA		10.56		0.09		0.01		0.82		0.92		(0.09	)		(0.83	)		—		(0.92	)		—			10.56		9.72	(7)		48,852		0.94			0.85			0.80			112
Class IB		10.53		0.06		0.01		0.82		0.89		(0.05	)		(0.83	)		—		(0.88	)		0.01			10.54		9.45	(7)		34,041		1.19			1.10			0.55			—
For the Year Ended December 31, 2005
Class IA		10.18		0.10		—		0.87		0.97		(0.19	)		(0.40	)		—		(0.59	)		0.38			10.56		9.88			52,679		0.92			0.91			0.77			136
Class IB		10.13		0.04		—		0.89		0.93		(0.13	)		(0.40	)		—		(0.53	)		0.40			10.53		9.60			41,972		1.17			1.16			0.52			—
For the Year Ended December 31, 2004
Class IA		9.90		0.10		—		0.21		0.31		(0.03	)		—			—		(0.03	)		0.28			10.18		3.16			49,519		0.90			0.90			1.06			111
Class IB		9.86		0.08		—		0.20		0.28		(0.01	)		—			—		(0.01	)		0.27			10.13		2.90			41,587		1.15			1.15			0.81			—
For the Year Ended December 31, 2003
Class IA		7.74		0.03		—		2.16		2.19		(0.03	)		—			—		(0.03	)		2.16			9.90		28.37			49,891		0.90			0.90			0.40			129
Class IB		7.71		0.02		—		2.15		2.17		(0.02	)		—			—		(0.02	)		2.15			9.86		28.05			39,674		1.15			1.15			0.15			—
Hartford Global Advisers HLS Fund
For the Year Ended December 31, 2007
Class IA		12.71		0.23		—		1.83		2.06		(0.12	)		(1.04	)		—		(1.16	)		0.90			13.61		16.59			316,929		0.80			0.80			1.74			85
Class IB		12.67		0.20		—		1.82		2.02		(0.09	)		(1.04	)		—		(1.13	)		0.89			13.56		16.30			67,293		1.05			1.05			1.49			—
For the Year Ended December 31, 2006
Class IA		12.48		0.23		0.02		0.83		1.08		(0.38	)		(0.47	)		—		(0.85	)		0.23			12.71		8.84	(7)		306,498		0.82			0.82			1.73			88
Class IB		12.41		0.20		0.02		0.83		1.05		(0.32	)		(0.47	)		—		(0.79	)		0.26			12.67		8.56	(7)		64,076		1.07			1.07			1.48			—
For the Year Ended December 31, 2005
Class IA		12.53		0.21		—		0.20		0.41		(0.46	)		—			—		(0.46	)		(0.05	)		12.48		3.37			332,169		0.83			0.83			1.59			502
Class IB		12.44		0.23		—		0.14		0.37		(0.40	)		—			—		(0.40	)		(0.03	)		12.41		3.11			71,346		1.09			1.09			1.33			—
For the Year Ended December 31, 2004
Class IA		11.15		0.19		—		1.19		1.38		—			—			—		—			1.38			12.53		12.75			362,757		0.84			0.84			1.27			511
Class IB		11.09		0.14		—		1.21		1.35		—			—			—		—			1.35			12.44		12.47			86,937		1.09			1.09			1.02			—
For the Year Ended December 31, 2003
Class IA		9.16		0.12		—		1.95		2.07		(0.08	)		—			—		(0.08	)		1.99			11.15		22.26			312,492		0.84			0.84			1.26			455
Class IB		9.12		0.11		—		1.93		2.04		(0.07	)		—			—		(0.07	)		1.97			11.09		21.97			41,594		1.09			1.09			1.01			—
Hartford Global Communications HLS Fund
For the Year Ended December 31, 2007
Class IA		9.79		0.08		—		1.98		2.06		(0.09	)		(2.02	)		—		(2.11	)		(0.05	)		9.74		23.38			14,625		0.94			0.94			0.85			107
Class IB		9.75		0.05		—		1.97		2.02		(0.06	)		(2.02	)		—		(2.08	)		(0.06	)		9.69		23.07			15,173		1.19			1.19			0.59			—
For the Year Ended December 31, 2006
Class IA		10.05		0.18		—		1.47		1.65		(0.18	)		(1.73	)		—		(1.91	)		(0.26	)		9.79		22.03	(7)		14,745		1.05			0.68			1.80			54
Class IB		10.02		0.14		—		1.47		1.61		(0.15	)		(1.73	)		—		(1.88	)		(0.27	)		9.75		21.72	(7)		13,510		1.30			0.93			1.54			—

­ ­  220  ­ ­

	— Selected Per-Share Data(5) —
								Net														— Ratios and Supplemental Data —
								Realized																	Net										Ratio of			Ratio of			Ratio of
								and									Distributions								Increase										Expenses			Expenses			Net
	Net Asset		Net					Unrealized			Total			Dividends			from								(Decrease)			Net Asset					Net Assets		to Average			to Average			Investment
	Value at		Investment			Payment		Gain			from			from Net			Realized			Distributions					in Net			Value at					at End of		Net Assets			Net Assets			Income			Portfolio
	Beginning		Income			from (to)		(Loss) on			Investment			Investment			Capital			from		Total			Asset			End		Total			Period		Before			After			to Average			Turnover
	of Period		(Loss)			Affiliate		Investments			Operations			Income			Gains			Capital		Distributions			Value			of Period		Return(3)			(000’s)		Waivers(4)			Waivers(4)			Net Assets			Rate(6)
Hartford Global Communications HLS Fund — (continued)
For the Year Ended December 31, 2005
Class IA	$	8.84	$	0.27		$	—	$	1.33		$	1.60		$	(0.37	)	$	(0.02	)	$	—	$	(0.39	)	$	1.21		$	10.05		18.61	%	$	16,542		1.00	%		0.85	%		2.55	%		66	%
Class IB		8.79		0.23			—		1.35			1.58			(0.33	)		(0.02	)		—		(0.35	)		1.23			10.02		18.32			12,412		1.25			1.09			2.26			—
For the Year Ended December 31, 2004
Class IA		7.17		0.16			—		1.51			1.67			—			—			—		—			1.67			8.84		23.21			17,537		1.01			1.01			1.83			85
Class IB		7.15		0.15			—		1.49			1.64			—			—			—		—			1.64			8.79		22.90			12,119		1.26			1.26			1.58			—
For the Year Ended December 31, 2003
Class IA		4.47		0.01			—		2.69			2.70			—			—			—		—			2.70			7.17		60.37			17,302		1.01			1.01			0.19			90
Class IB		4.47		0.01			—		2.67			2.68			—			—			—		—			2.68			7.15		59.97			10,288		1.26			1.26			(0.06	)		—
Hartford Global Financial Services HLS Fund
For the Year Ended December 31, 2007
Class IA		13.16		0.23			—		(0.90	)		(0.67	)		(0.01	)		(2.81	)		—		(2.82	)		(3.49	)		9.67		(7.79	)		16,051		0.96			0.96			2.03			59
Class IB		13.15		0.22			—		(0.92	)		(0.70	)		(0.01	)		(2.81	)		—		(2.82	)		(3.52	)		9.63		(8.02	)		12,159		1.21			1.21			1.79			—
For the Year Ended December 31, 2006
Class IA		11.57		0.21			—		2.11			2.32			(0.23	)		(0.50	)		—		(0.73	)		1.59			13.16		20.81	(7)		20,921		0.99			0.62			1.59			73
Class IB		11.55		0.18			—		2.09			2.27			(0.17	)		(0.50	)		—		(0.67	)		1.60			13.15		20.51	(7)		17,244		1.24			0.87			1.35			—
For the Year Ended December 31, 2005
Class IA		10.85		0.21			—		0.89			1.10			(0.37	)		(0.01	)		—		(0.38	)		0.72			11.57		10.42			20,433		0.96			0.81			1.56			22
Class IB		10.79		0.15			—		0.93			1.08			(0.31	)		(0.01	)		—		(0.32	)		0.76			11.55		10.14			18,131		1.21			1.06			1.31			—
For the Year Ended December 31, 2004
Class IA		9.65		0.18			—		1.02			1.20			—			—			—		—			1.20			10.85		12.35			22,010		0.98			0.98			1.84			77
Class IB		9.63		0.17			—		0.99			1.16			—			—			—		—			1.16			10.79		12.07			19,773		1.23			1.23			1.59			—
For the Year Ended December 31, 2003
Class IA		7.51		0.13			—		2.14			2.27			(0.13	)		—			—		(0.13	)		2.14			9.65		30.29			18,940		0.98			0.98			1.63			120
Class IB		7.50		0.11			—		2.13			2.24			(0.11	)		—			—		(0.11	)		2.13			9.63		29.96			16,056		1.23			1.23			1.38			—
Hartford Global Growth HLS Fund (formerly known as Hartford Global Leaders HLS Fund)
For the Year Ended December 31, 2007
Class IA		20.09		0.03			—		4.84			4.87			(0.01	)		(2.53	)		—		(2.54	)		2.33			22.42		25.05			1,028,843		0.73			0.73			0.13			75
Class IB		20.02		(0.02	)		—		4.81			4.79			(0.01	)		(2.53	)		—		(2.54	)		2.25			22.27		24.74			299,788		0.98			0.98			(0.11	)		—
For the Year Ended December 31, 2006
Class IA		18.74		0.10			0.05		2.48			2.63			(0.16	)		(1.12	)		—		(1.28	)		1.35			20.09		14.14	(7)		942,258		0.76			0.76			0.48			116
Class IB		18.66		0.05			0.05		2.47			2.57			(0.09	)		(1.12	)		—		(1.21	)		1.36			20.02		13.86	(7)		280,283		1.01			1.01			0.23			—
For the Year Ended December 31, 2005
Class IA		18.41		0.14			—		0.33			0.47			(0.14	)		—			—		(0.14	)		0.33			18.74		2.59			935,539		0.77			0.77			0.74			262
Class IB		18.32		0.07			—		0.35			0.42			(0.08	)		—			—		(0.08	)		0.34			18.66		2.33			280,050		1.02			1.02			0.48			—
For the Year Ended December 31, 2004
Class IA		15.53		0.12			—		2.85			2.97			(0.09	)		—			—		(0.09	)		2.88			18.41		19.19			1,004,850		0.78			0.78			0.83			255
Class IB		15.47		0.10			—		2.82			2.92			(0.07	)		—			—		(0.07	)		2.85			18.32		18.89			273,202		1.03			1.03			0.58			—
For the Year Ended December 31, 2003
Class IA		11.50		0.07			—		4.02			4.09			(0.06	)		—			—		(0.06	)		4.03			15.53		35.57			728,049		0.80			0.80			0.54			292
Class IB		11.47		0.04			—		4.00			4.04			(0.04	)		—			—		(0.04	)		4.00			15.47		35.24			129,315		1.05			1.05			0.29			—
Hartford Global Health HLS Fund
For the Year Ended December 31, 2007
Class IA		16.84		0.03			—		0.99			1.02			(0.02	)		(2.45	)		—		(2.47	)		(1.45	)		15.39		6.12			289,561		0.87			0.87			0.16			39
Class IB		16.59		(0.02	)		—		0.99			0.97			—			(2.45	)		—		(2.45	)		(1.48	)		15.11		5.86			105,898		1.12			1.12			(0.09	)		—
For the Year Ended December 31, 2006
Class IA		17.66		0.02			—		1.75			1.77			(0.01	)		(2.58	)		—		(2.59	)		(0.82	)		16.84		11.19	(7)		319,896		0.88			0.88			0.11			34
Class IB		17.47		(0.02	)		—		1.72			1.70			—			(2.58	)		—		(2.58	)		(0.88	)		16.59		10.91	(7)		119,000		1.13			1.13			(0.13	)		—
For the Year Ended December 31, 2005
Class IA		16.92		0.01			—		1.94			1.95			(0.01	)		(1.20	)		—		(1.21	)		0.74			17.66		12.43			309,235		0.87			0.87			0.12			46
Class IB		16.78		(0.01	)		—		1.90			1.89			—			(1.20	)		—		(1.20	)		0.69			17.47		12.15			123,593		1.12			1.12			(0.13	)		—
For the Year Ended December 31, 2004
Class IA		15.52		—			—		1.95			1.95			(0.01	)		(0.54	)		—		(0.55	)		1.40			16.92		12.80			309,640		0.88			0.88			0.07			46
Class IB		15.43		(0.01	)		—		1.90			1.89			—			(0.54	)		—		(0.54	)		1.35			16.78		12.52			125,592		1.13			1.13			(0.18	)		—
For the Year Ended December 31, 2003
Class IA		11.91		0.01			—		3.81			3.82			(0.01	)		(0.20	)		—		(0.21	)		3.61			15.52		32.31			268,844		0.89			0.89			0.15			37
Class IB		11.85		—			—		3.78			3.78			—			(0.20	)		—		(0.20	)		3.58			15.43		31.98			103,592		1.14			1.14			(0.10	)		—

­ ­  221  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Financial Highlights — (continued)

	— Selected Per-Share Data(5) —
								Net													— Ratios and Supplemental Data —
								Realized																Net										Ratio of			Ratio of			Ratio of
								and								Distributions								Increase										Expenses			Expenses			Net
	Net Asset		Net					Unrealized			Total		Dividends			from								(Decrease)			Net Asset					Net Assets		to Average			to Average			Investment
	Value at		Investment			Payment		Gain			from		from Net			Realized			Distributions					in Net			Value at					at End of		Net Assets			Net Assets			Income			Portfolio
	Beginning		Income			from (to)		(Loss) on			Investment		Investment			Capital			from		Total			Asset			End		Total			Period		Before			After			to Average			Turnover
	of Period		(Loss)			Affiliate		Investments			Operations		Income			Gains			Capital		Distributions			Value			of Period		Return(3)			(000’s)		Waivers(4)			Waivers(4)			Net Assets			Rate(6)
Hartford Global Technology HLS Fund
For the Year Ended December 31, 2007
Class IA	$	6.05	$	(0.02	)	$	—	$	0.85		$	0.83	$	—		$	—		$	—	$	—		$	0.83		$	6.88		13.86	%	$	107,002		0.92	%		0.92	%		(0.30	)%		151	%
Class IB		5.97		(0.04	)		—		0.85			0.81		—			—			—		—			0.81			6.78		13.58			43,601		1.17			1.17			(0.56	)		—
For the Year Ended December 31, 2006
Class IA		5.48		(0.02	)		—		0.59			0.57		—			—			—		—			0.57			6.05		10.35	(7)		104,147		0.96			0.96			(0.34	)		135
Class IB		5.43		(0.04	)		—		0.58			0.54		—			—			—		—			0.54			5.97		10.08	(7)		44,413		1.21			1.21			(0.58	)		—
For the Year Ended December 31, 2005
Class IA		4.94		(0.02	)		—		0.57			0.55		(0.01	)		—			—		(0.01	)		0.54			5.48		11.15			103,808		0.95			0.95			(0.41	)		117
Class IB		4.90		(0.03	)		—		0.56			0.53		—			—			—		—			0.53			5.43		10.88			44,554		1.20			1.20			(0.66	)		—
For the Year Ended December 31, 2004
Class IA		4.88		—			—		0.06			0.06		—			—			—		—			0.06			4.94		1.35			111,876		0.91			0.91			0.31			164
Class IB		4.84		0.01			—		0.05			0.06		—			—			—		—			0.06			4.90		1.10			46,112		1.16			1.16			0.06			—
For the Year Ended December 31, 2003
Class IA		3.02		—			—		1.86			1.86		—			—			—		—			1.86			4.88		61.50			138,243		0.90			0.90			(0.55	)		157
Class IB		3.01		—			—		1.83			1.83		—			—			—		—			1.83			4.84		61.10			44,432		1.15			1.15			(0.80	)		—
Hartford Growth HLS Fund
For the Year Ended December 31, 2007
Class IA		12.32		0.01			—		2.01			2.02		—			(0.95	)		—		(0.95	)		1.07			13.39		16.78			388,985		0.83			0.83			0.11			101
Class IB		12.17		(0.02	)		—		1.98			1.96		—			(0.95	)		—		(0.95	)		1.01			13.18		16.49			189,987		1.08			1.08			(0.14	)		—
For the Year Ended December 31, 2006
Class IA		12.54		0.01			0.01		0.56			0.58		(0.01	)		(0.79	)		—		(0.80	)		(0.22	)		12.32		4.61	(7)		379,601		0.84			0.84			0.10			95
Class IB		12.42		(0.02	)		0.01		0.55			0.54		—			(0.79	)		—		(0.79	)		(0.25	)		12.17		4.35	(7)		190,063		1.09			1.09			(0.14	)		—
For the Year Ended December 31, 2005
Class IA		12.47		0.01			0.01		0.53			0.55		—			(0.48	)		—		(0.48	)		0.07			12.54		4.67	(7)		345,558		0.84			0.84			0.02			76
Class IB		12.38		(0.04	)		0.01		0.55			0.52		—			(0.48	)		—		(0.48	)		0.04			12.42		4.42	(7)		206,105		1.09			1.09			(0.23	)		—
For the Year Ended December 31, 2004
Class IA		11.16		0.01			—		1.39			1.40		—			(0.09	)		—		(0.09	)		1.31			12.47		12.49			249,473		0.86			0.86			0.09			79
Class IB		11.11		0.01			—		1.35			1.36		—			(0.09	)		—		(0.09	)		1.27			12.38		12.21			170,895		1.11			1.11			(0.16	)		—
For the Year Ended December 31, 2003
Class IA		8.66		(0.01	)		—		2.85			2.84		—			(0.34	)		—		(0.34	)		2.50			11.16		32.81			127,944		0.88			0.88			(0.20	)		111
Class IB		8.64		(0.02	)		—		2.83			2.81		—			(0.34	)		—		(0.34	)		2.47			11.11		32.48			90,188		1.13			1.13			(0.45	)		—
Hartford Growth Opportunities HLS Fund
For the Year Ended December 31, 2007
Class IA		30.13	��	0.05			—		8.62			8.67		(0.05	)		(6.00	)		—		(6.05	)		2.62			32.75		29.65			1,415,613		0.64			0.64			0.16			135
Class IB		29.90		(0.02	)		—		8.53			8.51		(0.01	)		(6.00	)		—		(6.01	)		2.50			32.40		29.33			277,421		0.89			0.89			(0.09	)		—
For the Year Ended December 31, 2006
Class IA		30.07		0.22			0.03		3.27			3.52		(0.24	)		(3.22	)		—		(3.46	)		0.06			30.13		12.05	(7)		1,103,590		0.65			0.65			0.71			139
Class IB		29.85		0.14			0.03		3.25			3.42		(0.15	)		(3.22	)		—		(3.37	)		0.05			29.90		11.79	(7)		197,797		0.90			0.90			0.46			—
For the Year Ended December 31, 2005
Class IA		27.63		0.09			0.03		4.36			4.48		(0.06	)		(1.98	)		—		(2.04	)		2.44			30.07		16.31	(7)		1,012,774		0.64			0.64			0.33			140
Class IB		27.44		0.01			0.03		4.35			4.39		—			(1.98	)		—		(1.98	)		2.41			29.85		16.02	(7)		179,308		0.89			0.89			0.06			—
For the Year Ended December 31, 2004
Class IA		23.57		0.05			—		4.01			4.06		—			—			—		—			4.06			27.63		17.18			848,674		0.63			0.63			0.23			137
Class IB		23.48		0.03			—		3.93			3.96		—			—			—		—			3.96			27.44		16.89			112,896		0.88			0.88			(0.03	)		—
For the Year Ended December 31, 2003
Class IA		16.40		(0.01	)		—		7.18			7.17		—			—			—		—			7.17			23.57		43.79			696,900		0.64			0.64			(0.05	)		145
Class IB		16.37		(0.01	)		—		7.12			7.11		—			—			—		—			7.11			23.48		43.43			59,686		0.89			0.89			(0.30	)		—
Hartford High Yield HLS Fund
For the Year Ended December 31, 2007(8)
Class IA		9.35		0.71			—		(0.45	)		0.26		(0.74	)		—			—		(0.74	)		(0.48	)		8.87		2.79			460,243		0.77			0.72			7.47			148
Class IB		9.27		0.68			—		(0.45	)		0.23		(0.72	)		—			—		(0.72	)		(0.49	)		8.78		2.53			222,712		1.02			0.97			7.20			—
For the Year Ended December 31, 2006(8)
Class IA		9.80		0.72			—		0.31			1.03		(1.48	)		—			—		(1.48	)		(0.45	)		9.35		11.17	(7)		471,327		0.77			0.72			7.39			160
Class IB		9.70		0.69			—		0.30			0.99		(1.42	)		—			—		(1.42	)		(0.43	)		9.27		10.89	(7)		264,525		1.02			0.97			7.14			—
For the Year Ended December 31, 2005
Class IA		10.26		0.74			0.05		(0.58	)		0.21		(0.67	)		—			—		(0.67	)		(0.46	)		9.80		2.13	(7)		443,859		0.77			0.76			6.51			138
Class IB		10.17		0.71			0.05		(0.59	)		0.17		(0.64	)		—			—		(0.64	)		(0.47	)		9.70		1.85	(7)		272,538		1.02			1.01			6.25			—
For the Year Ended December 31, 2004
Class IA		10.06		0.58			—		0.12			0.70		(0.50	)		—			—		(0.50	)		0.20			10.26		7.40			518,881		0.77			0.77			6.31			92
Class IB		9.98		0.64			—		0.03			0.67		(0.48	)		—			—		(0.48	)		0.19			10.17		7.14			309,672		1.02			1.02			6.06			—

­ ­  222  ­ ­

	— Selected Per-Share Data(5) —
							Net												— Ratios and Supplemental Data —
							Realized															Net										Ratio of			Ratio of			Ratio of
							and							Distributions								Increase										Expenses			Expenses			Net
	Net Asset		Net				Unrealized		Total		Dividends			from								(Decrease)			Net Asset					Net Assets		to Average			to Average			Investment
	Value at		Investment		Payment		Gain		from		from Net			Realized			Distributions					in Net			Value at					at End of		Net Assets			Net Assets			Income			Portfolio
	Beginning		Income		from (to)		(Loss) on		Investment		Investment			Capital			from		Total			Asset			End		Total			Period		Before			After			to Average			Turnover
	of Period		(Loss)		Affiliate		Investments		Operations		Income			Gains			Capital		Distributions			Value			of Period		Return(3)			(000’s)		Waivers(4)			Waivers(4)			Net Assets			Rate(6)
Hartford High Yield HLS Fund — (continued)
For the Year Ended December 31, 2003
Class IA	$	8.49	$	0.19	$	—	$	1.75	$	1.94	$	(0.37	)	$	—		$	—	$	(0.37	)	$	1.57		$	10.06		23.18	%	$	481,315		0.78	%		0.78	%		7.00	%		44	%
Class IB		8.44		0.28		—		1.63		1.91		(0.37	)		—			—		(0.37	)		1.54			9.98		22.88			259,544		1.03			1.03			6.75			—
Hartford Index HLS Fund
For the Year Ended December 31, 2007
Class IA		32.36		0.59		—		1.07		1.66		(0.57	)		(1.91	)		—		(2.48	)		(0.82	)		31.54		5.20			1,390,827		0.33			0.33			1.61			4
Class IB		32.22		0.48		—		1.09		1.57		(0.48	)		(1.91	)		—		(2.39	)		(0.82	)		31.40		4.94			271,967		0.58			0.58			1.36			—
For the Year Ended December 31, 2006
Class IA		31.97		0.56		—		4.05		4.61		(0.56	)		(3.66	)		—		(4.22	)		0.39			32.36		15.46	(7)		1,598,176		0.42			0.33			1.60			4
Class IB		31.84		0.44		—		4.06		4.50		(0.46	)		(3.66	)		—		(4.12	)		0.38			32.22		15.17	(7)		276,850		0.67			0.58			1.36			—
For the Year Ended December 31, 2005
Class IA		32.17		0.51		—		0.90		1.41		(0.61	)		(1.00	)		—		(1.61	)		(0.20	)		31.97		4.50			1,701,424		0.42			0.42			1.46			5
Class IB		32.02		0.40		—		0.93		1.33		(0.51	)		(1.00	)		—		(1.51	)		(0.18	)		31.84		4.24			263,579		0.67			0.67			1.21			—
For the Year Ended December 31, 2004
Class IA		29.60		0.50		—		2.56		3.06		(0.39	)		(0.10	)		—		(0.49	)		2.57			32.17		10.39			1,973,470		0.44			0.44			1.60			5
Class IB		29.49		0.44		—		2.53		2.97		(0.34	)		(0.10	)		—		(0.44	)		2.53			32.02		10.12			252,959		0.69			0.69			1.35			—
For the Year Ended December 31, 2003
Class IA		23.46		0.36		—		6.23		6.59		(0.37	)		(0.08	)		—		(0.45	)		6.14			29.60		28.13			1,934,490		0.44			0.44			1.40			3
Class IB		23.39		0.31		—		6.19		6.50		(0.32	)		(0.08	)		—		(0.40	)		6.10			29.49		27.81			195,900		0.69			0.69			1.15			—
Hartford International Growth HLS Fund (formerly known as Hartford International Capital Appreciation HLS Fund)
For the Year Ended December 31, 2007
Class IA		14.18		0.11		—		3.13		3.24		(0.11	)		(2.84	)		—		(2.95	)		0.29			14.47		23.91			791,757		0.83			0.83			0.75			239
Class IB		14.10		0.08		—		3.09		3.17		(0.07	)		(2.84	)		—		(2.91	)		0.26			14.36		23.60			336,747		1.08			1.08			0.53			—
For the Year Ended December 31, 2006(8)
Class IA		12.48		0.10		—		2.84		2.94		(0.11	)		(1.13	)		—		(1.24	)		1.70			14.18		24.08	(7)		574,806		0.88			0.88			0.70			164
Class IB		12.40		0.06		—		2.83		2.89		(0.06	)		(1.13	)		—		(1.19	)		1.70			14.10		23.77	(7)		302,729		1.13			1.13			0.48			—
For the Year Ended December 31, 2005
Class IA		12.45		0.11		—		0.60		0.71		(0.10	)		(0.58	)		—		(0.68	)		0.03			12.48		6.16			370,555		0.93			0.93			1.05			179
Class IB		12.37		0.06		—		0.61		0.67		(0.06	)		(0.58	)		—		(0.64	)		0.03			12.40		5.89			244,572		1.18			1.18			0.79			—
For the Year Ended December 31, 2004
Class IA		10.20		0.05		—		2.44		2.49		—			(0.24	)		—		(0.24	)		2.25			12.45		24.72			208,703		0.97			0.97			0.86			215
Class IB		10.16		0.06		—		2.39		2.45		—			(0.24	)		—		(0.24	)		2.21			12.37		24.40			137,183		1.22			1.22			0.61			—
For the Year Ended December 31, 2003
Class IA		7.09		—		—		3.61		3.61		—			(0.50	)		—		(0.50	)		3.11			10.20		51.02			67,147		1.01			1.01			0.23			244
Class IB		7.08		—		—		3.58		3.58		—			(0.50	)		—		(0.50	)		3.08			10.16		50.65			63,698		1.26			1.26			(0.02	)		—
Hartford International Opportunities HLS Fund
For the Year Ended December 31, 2007
Class IA		15.23		0.18		—		3.77		3.95		(0.19	)		(3.37	)		—		(3.56	)		0.39			15.62		27.43			2,027,078		0.71			0.71			1.13			135
Class IB		15.36		0.16		—		3.78		3.94		(0.15	)		(3.37	)		—		(3.52	)		0.42			15.78		27.11			417,144		0.96			0.96			0.89			—
For the Year Ended December 31, 2006
Class IA		13.59		0.22		—		3.05		3.27		(0.40	)		(1.23	)		—		(1.63	)		1.64			15.23		24.46	(7)		1,596,055		0.75			0.75			1.47			119
Class IB		13.52		0.18		—		3.07		3.25		(0.18	)		(1.23	)		—		(1.41	)		1.84			15.36		24.15	(7)		382,371		1.00			1.00			1.24			—
For the Year Ended December 31, 2005
Class IA		11.86		0.14		—		1.59		1.73		—			—			—		—			1.73			13.59		14.62			1,251,426		0.78			0.78			1.22			120
Class IB		11.83		0.13		—		1.56		1.69		—			—			—		—			1.69			13.52		14.33			319,626		1.03			1.03			0.97			—
For the Year Ended December 31, 2004
Class IA		10.11		0.10		—		1.73		1.83		(0.08	)		—			—		(0.08	)		1.75			11.86		18.08			1,054,884		0.80			0.80			1.13			142
Class IB		10.09		0.08		—		1.72		1.80		(0.06	)		—			—		(0.06	)		1.74			11.83		17.79			247,752		1.05			1.05			0.88			—
For the Year Ended December 31, 2003
Class IA		7.66		0.09		—		2.44		2.53		(0.08	)		—			—		(0.08	)		2.45			10.11		33.10			823,760		0.83			0.83			1.08			144
Class IB		7.66		0.07		—		2.43		2.50		(0.07	)		—			—		(0.07	)		2.43			10.09		32.76			76,246		1.08			1.08			0.83			—
Hartford International Small Company HLS Fund
For the Year Ended December 31, 2007
Class IA		16.77		0.18		—		1.23		1.41		(0.31	)		(2.80	)		—		(3.11	)		(1.70	)		15.07		9.01			312,269		0.88			0.88			0.81			97
Class IB		16.64		0.13		—		1.22		1.35		(0.26	)		(2.80	)		—		(3.06	)		(1.71	)		14.93		8.73			105,771		1.13			1.13			0.56			—
For the Year Ended December 31, 2006
Class IA		14.84		0.18		—		4.08		4.26		(0.32	)		(2.01	)		—		(2.33	)		1.93			16.77		29.34	(7)		294,660		0.93			0.93			1.05			99
Class IB		14.71		0.15		—		4.04		4.19		(0.25	)		(2.01	)		—		(2.26	)		1.93			16.64		29.01	(7)		117,251		1.18			1.18			0.82			—

­ ­  223  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Financial Highlights — (continued)

	— Selected Per-Share Data(5) —
								Net												— Ratios and Supplemental Data —
								Realized															Net										Ratio of			Ratio of			Ratio of
								and							Distributions								Increase										Expenses			Expenses			Net
	Net Asset		Net					Unrealized		Total		Dividends			from								(Decrease)			Net Asset					Net Assets		to Average			to Average			Investment
	Value at		Investment			Payment		Gain		from		from Net			Realized			Distributions					in Net			Value at					at End of		Net Assets			Net Assets			Income			Portfolio
	Beginning		Income			from (to)		(Loss) on		Investment		Investment			Capital			from		Total			Asset			End		Total			Period		Before			After			to Average			Turnover
	of Period		(Loss)			Affiliate		Investments		Operations		Income			Gains			Capital		Distributions			Value			of Period		Return(3)			(000’s)		Waivers(4)			Waivers(4)			Net Assets			Rate(6)
Hartford International Small Company HLS Fund — (continued)
For the Year Ended December 31, 2005
Class IA	$	14.52	$	0.11		$	—	$	2.44	$	2.55	$	(0.38	)	$	(1.85	)	$	—	$	(2.23	)	$	0.32		$	14.84		18.60	%	$	193,712		1.00	%		1.00	%		1.19	%		95	%
Class IB		14.42		0.08			—		2.40		2.48		(0.34	)		(1.85	)		—		(2.19	)		0.29			14.71		18.30			92,157		1.25			1.25			0.97			—
For the Year Ended December 31, 2004
Class IA		12.62		0.16			—		1.96		2.12		—			(0.22	)		—		(0.22	)		1.90			14.52		16.96			84,012		1.08			1.08			1.53			119
Class IB		12.56		0.14			—		1.94		2.08		—			(0.22	)		—		(0.22	)		1.86			14.42		16.67			54,750		1.33			1.33			1.28			—
For the Year Ended December 31, 2003
Class IA		8.89		0.09			—		4.68		4.77		(0.11	)		(0.93	)		—		(1.04	)		3.73			12.62		53.73			44,088		1.23			1.23			1.35			150
Class IB		8.86		0.08			—		4.64		4.72		(0.09	)		(0.93	)		—		(1.02	)		3.70			12.56		53.35			22,704		1.48			1.48			1.10			—
Hartford LargeCap Growth HLS Fund (formerly known as Hartford Blue Chip Stock HLS Fund)
For the Year Ended December 31, 2007
Class IA		20.18		0.11			—		1.02		1.13		(0.11	)		(1.42	)		—		(1.53	)		(0.40	)		19.78		5.52			171,565		0.68			0.47			0.53			247
For the Year Ended December 31, 2006
Class IA		18.74		0.07			—		1.44		1.51		(0.07	)		—			—		(0.07	)		1.44			20.18		8.04			139,150		0.89			0.78			0.31			116
For the Year Ended December 31, 2005
Class IA		17.84		0.07			—		0.98		1.05		(0.15	)		—			—		(0.15	)		0.90			18.74		5.85			155,020		0.91			0.81			0.32			27
For the Year Ended December 31, 2004
Class IA		16.42		0.10			—		1.35		1.45		(0.03	)		—			—		(0.03	)		1.42			17.84		8.90			173,702		0.90			0.90			0.56			26
For the Year Ended December 31, 2003
Class IA		12.70		0.03			—		3.69		3.72		—			—			—		—			3.72			16.42		29.30			182,530		0.90			0.90			0.22			28
Hartford MidCap HLS Fund
For the Year Ended December 31, 2007(8)
Class IA		26.99		0.06			—		3.99		4.05		(0.15	)		(4.55	)		—		(4.70	)		(0.65	)		26.34		15.30			2,716,285		0.69			0.69			0.22			79
Class IB		26.76		(0.01	)		—		3.95		3.94		(0.07	)		(4.55	)		—		(4.62	)		(0.68	)		26.08		15.01			302,151		0.94			0.94			(0.03	)		—
For the Year Ended December 31, 2006
Class IA		28.73		0.33			0.04		2.92		3.29		(0.33	)		(4.70	)		—		(5.03	)		(1.74	)		26.99		11.74	(7)		2,606,275		0.68			0.68			1.06			89
Class IB		28.53		0.25			0.04		2.89		3.18		(0.25	)		(4.70	)		—		(4.95	)		(1.77	)		26.76		11.46	(7)		274,695		0.93			0.93			0.82			—
For the Year Ended December 31, 2005
Class IA		28.61		0.11			0.01		4.60		4.72		(0.12	)		(4.48	)		—		(4.60	)		0.12			28.73		16.78	(7)		2,529,805		0.70			0.70			0.39			70
Class IB		28.42		0.01			0.01		4.59		4.61		(0.02	)		(4.48	)		—		(4.50	)		0.11			28.53		16.49	(7)		254,833		0.95			0.95			0.14			—
For the Year Ended December 31, 2004
Class IA		24.63		0.12			—		3.93		4.05		(0.07	)		—			—		(0.07	)		3.98			28.61		16.44			2,193,649		0.70			0.70			0.47			60
Class IB		24.50		0.08			—		3.87		3.95		(0.03	)		—			—		(0.03	)		3.92			28.42		16.15			221,727		0.95			0.95			0.22			—
For the Year Ended December 31, 2003
Class IA		17.93		0.04			—		6.71		6.75		(0.05	)		—			—		(0.05	)		6.70			24.63		37.67			1,946,881		0.72			0.72			0.20			75
Class IB		17.84		(0.01	)		—		6.67		6.66		—			—			—		—			6.66			24.50		37.33			179,439		0.97			0.97			(0.05	)		—
Hartford MidCap Growth HLS Fund
For the Year Ended December 31, 2007
Class IA		10.88		0.03			0.02		1.23		1.28		(0.06	)		(1.91	)		—		(1.97	)		(0.69	)		10.19		11.65	(7)		51,196		0.85			0.65			0.26			231
For the Year Ended December 31, 2006
Class IA		11.33		(0.01	)		—		1.39		1.38		—			(1.83	)		—		(1.83	)		(0.45	)		10.88		12.27			53,395		0.98			0.78			(0.08	)		211
For the Year Ended December 31, 2005
Class IA		12.63		(0.04	)		—		0.53		0.49		—			(1.79	)		—		(1.79	)		(1.30	)		11.33		4.55			55,209		1.01			0.81			(0.39	)		112
For the Year Ended December 31, 2004
Class IA		11.21		0.01			—		1.43		1.44		(0.02	)		—			—		(0.02	)		1.42			12.63		12.83			59,730		0.94			0.94			0.02			179
For the Year Ended December 31, 2003
Class IA		8.57		0.02			—		2.64		2.66		(0.02	)		—			—		(0.02	)		2.64			11.21		31.05			56,285		0.95			0.95			0.16			76
Hartford MidCap Value HLS Fund
For the Year Ended December 31, 2007
Class IA		14.18		0.08			—		0.51		0.59		(0.07	)		(2.36	)		—		(2.43	)		(1.84	)		12.34		2.13			615,430		0.79			0.79			0.53			50
Class IB		14.13		0.04			—		0.53		0.57		(0.04	)		(2.36	)		—		(2.40	)		(1.83	)		12.30		1.87			300,502		1.04			1.04			0.28			—
For the Year Ended December 31, 2006
Class IA		14.01		0.10			0.01		2.11		2.22		(0.12	)		(1.93	)		—		(2.05	)		0.17			14.18		17.88	(7)		721,469		0.78			0.78			0.73			41
Class IB		13.96		0.07			0.01		2.10		2.18		(0.08	)		(1.93	)		—		(2.01	)		0.17			14.13		17.59	(7)		370,771		1.03			1.03			0.51			—
For the Year Ended December 31, 2005
Class IA		14.16		0.06			0.01		1.23		1.30		(0.08	)		(1.37	)		—		(1.45	)		(0.15	)		14.01		9.99	(7)		721,631		0.79			0.79			0.35			49
Class IB		14.08		(0.02	)		0.01		1.27		1.26		(0.01	)		(1.37	)		—		(1.38	)		(0.12	)		13.96		9.71	(7)		391,264		1.04			1.04			0.10			—
For the Year Ended December 31, 2004
Class IA		12.37		0.03			—		1.96		1.99		(0.01	)		(0.19	)		—		(0.20	)		1.79			14.16		16.30			770,328		0.80			0.80			0.34			87
Class IB		12.32		0.02			—		1.93		1.95		—			(0.19	)		—		(0.19	)		1.76			14.08		16.01			435,812		1.05			1.05			0.09			—

­ ­  224  ­ ­

	— Selected Per-Share Data(5) —
								Net														— Ratios and Supplemental Data —
								Realized																	Net										Ratio of			Ratio of			Ratio of
								and									Distributions								Increase										Expenses			Expenses			Net
	Net Asset		Net					Unrealized			Total			Dividends			from								(Decrease)			Net Asset					Net Assets		to Average			to Average			Investment
	Value at		Investment			Payment		Gain			from			from Net			Realized			Distributions					in Net			Value at					at End of		Net Assets			Net Assets			Income			Portfolio
	Beginning		Income			from (to)		(Loss) on			Investment			Investment			Capital			from		Total			Asset			End		Total			Period		Before			After			to Average			Turnover
	of Period		(Loss)			Affiliate		Investments			Operations			Income			Gains			Capital		Distributions			Value			of Period		Return(3)			(000’s)		Waivers(4)			Waivers(4)			Net Assets			Rate(6)
Hartford MidCap Value HLS Fund — (continued)
For the Year Ended December 31, 2003
Class IA	$	8.63	$	0.01		$	—	$	3.73		$	3.74		$	—		$	—		$	—	$	—		$	3.74		$	12.37		43.29	%	$	592,014		0.83	%		0.83	%		0.25	%		59	%
Class IB		8.62		0.01			—		3.69			3.70			—			—			—		—			3.70			12.32		42.93			318,093		1.08			1.08			—			—
Hartford Money Market HLS Fund
For the Year Ended December 31, 2007
Class IA		1.00		0.05			—		—			0.05			(0.05	)		—			—		(0.05	)		—			1.00		4.95			2,224,124		0.47			0.42			4.83			—
Class IB		1.00		0.05			—		—			0.05			(0.05	)		—			—		(0.05	)		—			1.00		4.69			452,976		0.72			0.67			4.58			—
For the Year Ended December 31, 2006
Class IA		1.00		0.05			—		—			0.05			(0.05	)		—			—		(0.05	)		—			1.00		4.69			1,558,433		0.48			0.48			4.63			—
Class IB		1.00		0.04			—		—			0.04			(0.04	)		—			—		(0.04	)		—			1.00		4.43			319,926		0.73			0.73			4.38			—
For the Year Ended December 31, 2005
Class IA		1.00		0.03			—		—			0.03			(0.03	)		—			—		(0.03	)		—			1.00		2.84			1,353,836		0.49			0.49			2.79			—
Class IB		1.00		0.03			—		—			0.03			(0.03	)		—			—		(0.03	)		—			1.00		2.58			264,040		0.75			0.75			2.54			—
For the Year Ended December 31, 2004
Class IA		1.00		—			—		—			—			—			—			—		—			—			1.00		0.94			1,294,525		0.48			0.48			0.93			—
Class IB		1.00		—			—		—			—			—			—			—		—			—			1.00		0.69			252,808		0.73			0.73			0.68			—
For the Year Ended December 31, 2003
Class IA		1.00		0.01			—		—			0.01			(0.01	)		—			—		(0.01	)		—			1.00		0.75			1,609,439		0.49			0.49			0.75			—
Class IB		1.00		—			—		—			—			—			—			—		—			—			1.00		0.50			240,930		0.74			0.74			0.50			—
Hartford Mortgage Securities HLS Fund
For the Year Ended December 31, 2007
Class IA		10.82		0.61			—		(0.25	)		0.36			(0.61	)		—			—		(0.61	)		(0.25	)		10.57		3.39			352,673		0.49			0.49			5.10			76
Class IB		10.75		0.59			—		(0.26	)		0.33			(0.58	)		—			—		(0.58	)		(0.25	)		10.50		3.13			114,102		0.74			0.74			4.85			—
For the Year Ended December 31, 2006(8)
Class IA		11.50		0.54			—		(0.03	)		0.51			(1.19	)		—			—		(1.19	)		(0.68	)		10.82		4.68			406,971		0.49			0.49			4.76			45
Class IB		11.40		0.50			—		(0.02	)		0.48			(1.13	)		—			—		(1.13	)		(0.65	)		10.75		4.41			136,537		0.74			0.74			4.51			—
For the Year Ended December 31, 2005
Class IA		11.71		0.55			—		(0.28	)		0.27			(0.48	)		—			—		(0.48	)		(0.21	)		11.50		2.36			457,600		0.49			0.49			4.25			131
Class IB		11.61		0.53			—		(0.29	)		0.24			(0.45	)		—			—		(0.45	)		(0.21	)		11.40		2.11			163,031		0.74			0.74			4.00			—
For the Year Ended December 31, 2004
Class IA		11.84		0.42			—		0.05			0.47			(0.58	)		(0.02	)		—		(0.60	)		(0.13	)		11.71		4.12			521,171		0.49			0.49			3.29			100
Class IB		11.75		0.45			—		(0.02	)		0.43			(0.55	)		(0.02	)		—		(0.57	)		(0.14	)		11.61		3.86			180,232		0.74			0.74			3.04			—
For the Year Ended December 31, 2003
Class IA		12.01		0.35			—		(0.08	)		0.27			(0.38	)		(0.06	)		—		(0.44	)		(0.17	)		11.84		2.29			587,833		0.49			0.49			2.84			338
Class IB		11.94		0.38			—		(0.14	)		0.24			(0.37	)		(0.06	)		—		(0.43	)		(0.19	)		11.75		2.03			180,982		0.74			0.74			2.59			—
Hartford Small Company HLS Fund
For the Year Ended December 31, 2007(8)
Class IA		19.07		—			0.04		2.57			2.61			(0.05	)		(3.01	)		—		(3.06	)		(0.45	)		18.62		14.23	(7)		1,292,444		0.70			0.70			(0.02	)		167	(9)
Class IB		18.71		(0.05	)		0.04		2.51			2.50			—			(3.01	)		—		(3.01	)		(0.51	)		18.20		13.94	(7)		312,775		0.95			0.95			(0.27	)		—
For the Year Ended December 31, 2006
Class IA		19.66		0.05			0.02		2.75			2.82			(0.04	)		(3.37	)		—		(3.41	)		(0.59	)		19.07		14.43	(7)		1,138,830		0.73			0.73			0.21			177
Class IB		19.38		—			0.02		2.70			2.72			(0.02	)		(3.37	)		—		(3.39	)		(0.67	)		18.71		14.14	(7)		304,757		0.98			0.98			(0.03	)		—
For the Year Ended December 31, 2005
Class IA		16.25		(0.04	)		0.02		3.43			3.41			—			—			—		—			3.41			19.66		21.01	(7)		1,017,271		0.75			0.75			(0.08	)		106
Class IB		16.06		(0.05	)		0.02		3.35			3.32			—			—			—		—			3.32			19.38		20.71	(7)		220,310		1.00			1.00			(0.34	)		—
For the Year Ended December 31, 2004
Class IA		14.49		(0.07	)		—		1.83			1.76			—			—			—		—			1.76			16.25		12.18			904,912		0.75			0.75			(0.41	)		141
Class IB		14.35		(0.09	)		—		1.80			1.71			—			—			—		—			1.71			16.06		11.90			230,452		1.00			1.00			(0.66	)		—
For the Year Ended December 31, 2003
Class IA		9.29		(0.04	)		—		5.24			5.20			—			—			—		—			5.20			14.49		55.87			851,283		0.76			0.76			(0.49	)		171
Class IB		9.23		(0.04	)		—		5.16			5.12			—			—			—		—			5.12			14.35		55.48			190,456		1.01			1.01			(0.74	)		—
Hartford SmallCap Growth HLS Fund
For the Year Ended December 31, 2007
Class IA		20.79		0.11			—		(0.53	)		(0.42	)		(0.06	)		(1.60	)		—		(1.66	)		(2.08	)		18.71		(1.84	)		640,853		0.63			0.63			0.52			84
Class IB		20.74		0.06			—		(0.54	)		(0.48	)		—			(1.60	)		—		(1.60	)		(2.08	)		18.66		(2.09	)		227,424		0.88			0.88			0.27			—
For the Year Ended December 31, 2006
Class IA		20.88		0.09			—		1.35			1.44			(0.08	)		(1.45	)		—		(1.53	)		(0.09	)		20.79		6.86	(7)		746,266		0.64			0.64			0.42			92
Class IB		20.83		0.04			—		1.35			1.39			(0.03	)		(1.45	)		—		(1.48	)		(0.09	)		20.74		6.59	(7)		273,736		0.89			0.89			0.17			—

­ ­  225  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Financial Highlights — (continued)

	— Selected Per-Share Data(5) —
								Net															— Ratios and Supplemental Data —
								Realized																		Net										Ratio of			Ratio of			Ratio of
								and									Distributions									Increase										Expenses			Expenses			Net
	Net Asset		Net					Unrealized			Total			Dividends			from									(Decrease)			Net Asset					Net Assets		to Average			to Average			Investment
	Value at		Investment			Payment		Gain			from			from Net			Realized			Distributions						in Net			Value at					at End of		Net Assets			Net Assets			Income			Portfolio
	Beginning		Income			from (to)		(Loss) on			Investment			Investment			Capital			from			Total			Asset			End		Total			Period		Before			After			to Average			Turnover
	of Period		(Loss)			Affiliate		Investments			Operations			Income			Gains			Capital			Distributions			Value			of Period		Return(3)			(000’s)		Waivers(4)			Waivers(4)			Net Assets			Rate(6)
Hartford SmallCap Growth HLS Fund — (continued)
For the Year Ended December 31, 2005
Class IA	$	20.26	$	0.05		$	0.04	$	2.13		$	2.22		$	(0.08	)	$	(1.22	)	$	(0.30	)	$	(1.60	)	$	0.62		$	20.88		11.02	%(7)	$	704,168		0.63	%		0.63	%		0.20	%		77	%
Class IB		20.21		(0.02	)		0.04		2.15			2.17			(0.03	)		(1.22	)		(0.30	)		(1.55	)		0.62			20.83		10.78	(7)		271,859		0.88			0.88			(0.05	)		—
For the Year Ended December 31, 2004
Class IA		17.55		0.04			—		2.67			2.71			—			—			—			—			2.71			20.26		15.43			503,717		0.64			0.64			0.27			88
Class IB		17.55		0.03			—		2.63			2.66			—			—			—			—			2.66			20.21		15.14			201,589		0.89			0.89			0.02			—
For the Year Ended December 31, 2003
Class IA		11.70		—			—		5.85			5.85			—			—			—			—			5.85			17.55		50.06			346,380		0.66			0.66			(0.01	)		101
Class IB		11.73		(0.01	)		—		5.83			5.82			—			—			—			—			5.82			17.55		49.70			74,592		0.91			0.91			(0.26	)		—
Hartford SmallCap Value HLS Fund
For the Year Ended December 31, 2007
Class IA		12.99		0.18			—		(0.77	)		(0.59	)		(0.17	)		(1.54	)		—			(1.71	)		(2.30	)		10.69		(4.44	)		81,895		0.96			0.96			1.27			51
Class IB		12.97		0.11			—		(0.73	)		(0.62	)		(0.15	)		(1.54	)		—			(1.69	)		(2.31	)		10.66		(4.67	)		240		1.21			1.21			1.08			—
For the Year Ended December 31, 2006
Class IA		13.77		0.21			—		2.26			2.47			(0.20	)		(3.05	)		—			(3.25	)		(0.78	)		12.99		18.31			102,233		0.99			0.99			1.35			166
Class IB		13.74		0.17			—		2.27			2.44			(0.16	)		(3.05	)		—			(3.21	)		(0.77	)		12.97		18.02			171		1.24			1.24			1.07			—
For the Year Ended December 31, 2005
Class IA		16.61		0.15			—		1.08			1.23			(0.23	)		(3.84	)		—			(4.07	)		(2.84	)		13.77		8.11			103,350		0.92			0.92			0.94			49
Class IB		16.59		0.16			—		1.02			1.18			(0.19	)		(3.84	)		—			(4.03	)		(2.85	)		13.74		7.83			146		1.17			1.17			0.71			—
For the Year Ended December 31, 2004
Class IA		14.81		0.13			—		1.92			2.05			(0.10	)		(0.15	)		—			(0.25	)		1.80			16.61		13.98			114,296		0.92			0.92			0.80			51
Class IB		14.78		0.15			—		1.91			2.06			(0.10	)		(0.15	)		—			(0.25	)		1.81			16.59		14.06			32		1.17			1.17			0.55			—
For the Year Ended December 31, 2003
Class IA		10.88		0.13			—		4.01			4.14			(0.06	)		(0.15	)		—			(0.21	)		3.93			14.81		38.46			105,589		0.92			0.92			0.99			57
From inception July 1, 2003 through December 31, 2003
Class IB		12.06		—			—		2.72			2.72			—			—			—			—			2.72			14.78		25.54	(2)		1		1.17	(1)		1.17	(1)		0.74	(1)		—
Hartford Stock HLS Fund
For the Year Ended December 31, 2007
Class IA		52.57		0.60			—		2.43			3.03			(0.57	)		(7.92	)		—			(8.49	)		(5.46	)		47.11		5.90			3,909,045		0.49			0.49			1.01			96
Class IB		52.45		0.45			—		2.44			2.89			(0.42	)		(7.92	)		—			(8.34	)		(5.45	)		47.00		5.64			652,838		0.74			0.74			0.76			—
For the Year Ended December 31, 2006
Class IA		49.21		0.72			0.06		6.41			7.19			(0.71	)		(3.12	)		—			(3.83	)		3.36			52.57		14.65	(7)		4,498,001		0.49			0.49			1.27			97
Class IB		49.10		0.56			0.06		6.42			7.04			(0.57	)		(3.12	)		—			(3.69	)		3.35			52.45		14.37	(7)		758,802		0.74			0.74			1.02			—
For the Year Ended December 31, 2005
Class IA		45.72		0.66			—		3.72			4.38			(0.89	)		—			—			(0.89	)		3.49			49.21		9.62			4,787,612		0.50			0.50			1.21			91
Class IB		45.59		0.51			—		3.74			4.25			(0.74	)		—			—			(0.74	)		3.51			49.10		9.35			770,163		0.75			0.75			0.96			—
For the Year Ended December 31, 2004
Class IA		44.37		0.74			—		1.10			1.84			(0.49	)		—			—			(0.49	)		1.35			45.72		4.17			5,657,942		0.49			0.49			1.61			30
Class IB		44.29		0.64			—		1.08			1.72			(0.42	)		—			—			(0.42	)		1.30			45.59		3.91			718,293		0.74			0.74			1.36			—
For the Year Ended December 31, 2003
Class IA		35.46		0.46			—		8.93			9.39			(0.48	)		—			—			(0.48	)		8.91			44.37		26.47			6,014,675		0.49			0.49			1.18			37
Class IB		35.42		0.38			—		8.88			9.26			(0.39	)		—			—			(0.39	)		8.87			44.29		26.16			562,979		0.74			0.74			0.93			—
Hartford Total Return Bond HLS Fund
For the Year Ended December 31, 2007(8)
Class IA		11.24		0.60			—		(0.08	)		0.52			(0.61	)		—			—			(0.61	)		(0.09	)		11.15		4.67			3,458,709		0.49			0.49			5.27			223
Class IB		11.19		0.57			—		(0.09	)		0.48			(0.58	)		—			—			(0.58	)		(0.10	)		11.09		4.41			1,036,331		0.74			0.74			5.01			—
For the Year Ended December 31, 2006(8)
Class IA		11.27		0.55			—		(0.01	)		0.54			(0.57	)		—			—			(0.57	)		(0.03	)		11.24		4.80	(7)		3,041,321		0.50			0.50			4.82			344
Class IB		11.20		0.51			—		—			0.51			(0.52	)		—			—			(0.52	)		(0.01	)		11.19		4.54	(7)		1,040,408		0.75			0.75			4.56			—
For the Year Ended December 31, 2005
Class IA		11.94		0.44			—		(0.14	)		0.30			(0.88	)		(0.09	)		—			(0.97	)		(0.67	)		11.27		2.45			2,745,115		0.50			0.50			4.09			190
Class IB		11.86		0.43			—		(0.17	)		0.26			(0.83	)		(0.09	)		—			(0.92	)		(0.66	)		11.20		2.19			1,068,600		0.75			0.75			3.84			—
For the Year Ended December 31, 2004
Class IA		12.32		0.40			—		0.12			0.52			(0.58	)		(0.32	)		—			(0.90	)		(0.38	)		11.94		4.62			2,507,021		0.50			0.50			3.72			164
Class IB		12.25		0.45			—		0.04			0.49			(0.56	)		(0.32	)		—			(0.88	)		(0.39	)		11.86		4.36			991,065		0.75			0.75			3.47			—
For the Year Ended December 31, 2003
Class IA		11.95		0.36			—		0.57			0.93			(0.50	)		(0.06	)		—			(0.56	)		0.37			12.32		7.85			2,332,343		0.50			0.50			3.74			215
Class IB		11.90		0.40			—		0.50			0.90			(0.49	)		(0.06	)		—			(0.55	)		0.35			12.25		7.58			734,768		0.75			0.75			3.49			—

­ ­  226  ­ ­

	— Selected Per-Share Data(5) —
							Net														— Ratios and Supplemental Data —
							Realized																	Net										Ratio of			Ratio of			Ratio of
							and									Distributions								Increase										Expenses			Expenses			Net
	Net Asset		Net				Unrealized			Total			Dividends			from								(Decrease)			Net Asset					Net Assets		to Average			to Average			Investment
	Value at		Investment		Payment		Gain			from			from Net			Realized			Distributions					in Net			Value at					at End of		Net Assets			Net Assets			Income			Portfolio
	Beginning		Income		from (to)		(Loss) on			Investment			Investment			Capital			from		Total			Asset			End		Total			Period		Before			After			to Average			Turnover
	of Period		(Loss)		Affiliate		Investments			Operations			Income			Gains			Capital		Distributions			Value			of Period		Return(3)			(000’s)		Waivers(4)			Waivers(4)			Net Assets			Rate(6)
Hartford U.S. Government Securities HLS Fund
For the Year Ended December 31, 2007(8)
Class IA	$	11.13	$	0.54	$	—	$	(0.07	)	$	0.47		$	(0.45	)	$	—		$	—	$	(0.45	)	$	0.02		$	11.15		4.38	%	$	925,088		0.47	%		0.47	%		4.86	%		95	%
Class IB		11.07		0.51		—		(0.06	)		0.45			(0.42	)		—			—		(0.42	)		0.03			11.10		4.12			297,934		0.72			0.72			4.61			—
For the Year Ended December 31, 2006(8)
Class IA		11.09		0.49		—		(0.06	)		0.43			(0.39	)		—			—		(0.39	)		0.04			11.13		4.01			711,639		0.48			0.48			4.48			199
Class IB		11.03		0.46		—		(0.06	)		0.40			(0.36	)		—			—		(0.36	)		0.04			11.07		3.75			290,963		0.73			0.73			4.21			—
For the Year Ended December 31, 2005
Class IA		11.24		0.35		—		(0.17	)		0.18			(0.33	)		—			—		(0.33	)		(0.15	)		11.09		1.55			591,007		0.47			0.47			3.60			257
Class IB		11.19		0.37		—		(0.22	)		0.15			(0.31	)		—			—		(0.31	)		(0.16	)		11.03		1.30			323,920		0.72			0.72			3.34			—
For the Year Ended December 31, 2004
Class IA		11.43		0.29		—		(0.07	)		0.22			(0.41	)		—			—		(0.41	)		(0.19	)		11.24		2.07			523,819		0.47			0.47			3.08			247
Class IB		11.39		0.37		—		(0.18	)		0.19			(0.39	)		—			—		(0.39	)		(0.20	)		11.19		1.82			294,711		0.72			0.72			2.83			—
For the Year Ended December 31, 2003
Class IA		11.36		0.31		—		(0.07	)		0.24			(0.17	)		—			—		(0.17	)		0.07			11.43		2.15			514,243		0.47			0.47			2.74			191
Class IB		11.34		0.27		—		(0.05	)		0.22			(0.17	)		—			—		(0.17	)		0.05			11.39		1.89			239,023		0.72			0.72			2.49			—
Hartford Value HLS Fund
For the Year Ended December 31, 2007
Class IA		13.06		0.17		—		1.02			1.19			(0.17	)		(1.25	)		—		(1.42	)		(0.23	)		12.83		8.98			327,689		0.84			0.84			1.42			35
Class IB		13.03		0.16		—		1.00			1.16			(0.13	)		(1.25	)		—		(1.38	)		(0.22	)		12.81		8.70			131,651		1.09			1.09			1.14			—
For the Year Ended December 31, 2006
Class IA		11.18		0.15		—		2.23			2.38			(0.15	)		(0.35	)		—		(0.50	)		1.88			13.06		21.82	(7)		277,982		0.85			0.85			1.37			40
Class IB		11.14		0.13		—		2.21			2.34			(0.10	)		(0.35	)		—		(0.45	)		1.89			13.03		21.52	(7)		148,135		1.10			1.10			1.10			—
For the Year Ended December 31, 2005
Class IA		10.73		0.15		—		0.71			0.86			(0.27	)		(0.14	)		—		(0.41	)		0.45			11.18		8.13			193,655		0.86			0.86			1.42			30
Class IB		10.67		0.10		—		0.73			0.83			(0.22	)		(0.14	)		—		(0.36	)		0.47			11.14		7.86			129,771		1.11			1.11			1.17			—
For the Year Ended December 31, 2004
Class IA		9.72		0.13		—		0.91			1.04			(0.03	)		—			—		(0.03	)		1.01			10.73		10.71			162,644		0.87			0.87			1.36			45
Class IB		9.69		0.12		—		0.89			1.01			(0.03	)		—			—		(0.03	)		0.98			10.67		10.43			120,227		1.12			1.12			1.11			—
For the Year Ended December 31, 2003
Class IA		7.61		0.10		—		2.08			2.18			(0.07	)		—			—		(0.07	)		2.11			9.72		28.60			155,085		0.87			0.87			1.53			40
Class IB		7.60		0.09		—		2.06			2.15			(0.06	)		—			—		(0.06	)		2.09			9.69		28.28			99,825		1.12			1.12			1.28			—
Hartford Value Opportunities HLS Fund
For the Year Ended December 31, 2007
Class IA		19.74		0.25		—		(1.48	)		(1.23	)		(0.25	)		(2.84	)		—		(3.09	)		(4.32	)		15.42		(6.29	)		456,402		0.64			0.64			1.21			57
Class IB		19.64		0.22		—		(1.48	)		(1.26	)		(0.19	)		(2.84	)		—		(3.03	)		(4.29	)		15.35		(6.53	)		122,159		0.89			0.89			0.96			—
For the Year Ended December 31, 2006
Class IA		18.93		0.25		0.01		3.14			3.40			(0.26	)		(2.33	)		—		(2.59	)		0.81			19.74		19.02	(7)		508,648		0.64			0.64			1.31			52
Class IB		18.83		0.21		0.01		3.11			3.33			(0.19	)		(2.33	)		—		(2.52	)		0.81			19.64		18.73	(7)		164,151		0.89			0.89			1.05			—
For the Year Ended December 31, 2005
Class IA		18.16		0.14		—		1.34			1.48			(0.26	)		(0.45	)		—		(0.71	)		0.77			18.93		8.32			390,113		0.65			0.65			1.05			52
Class IB		18.06		0.09		—		1.33			1.42			(0.20	)		(0.45	)		—		(0.65	)		0.77			18.83		8.05			151,960		0.90			0.90			0.79			—
For the Year Ended December 31, 2004
Class IA		15.33		0.13		—		2.75			2.88			(0.05	)		—			—		(0.05	)		2.83			18.16		18.87			259,593		0.67			0.67			1.10			80
Class IB		15.27		0.11		—		2.72			2.83			(0.04	)		—			—		(0.04	)		2.79			18.06		18.58			81,772		0.92			0.92			0.85			—
For the Year Ended December 31, 2003
Class IA		10.86		0.06		—		4.48			4.54			(0.07	)		—			—		(0.07	)		4.47			15.33		41.87			156,879		0.71			0.71			0.62			48
Class IB		10.84		0.08		—		4.41			4.49			(0.06	)		—			—		(0.06	)		4.43			15.27		41.52			32,572		0.96			0.96			0.37			—

(1)	Annualized.
(2)	Not annualized.
(3)	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.
(4)	Ratios do not reflect reductions for fees paid indirectly. Please see Note 3(f).
(5)	Information presented relates to a share outstanding throughout the indicated period.
(6)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(7)	Total return without the inclusion of the Payment from (to) Affiliate, as noted on the Statements of Operations, can be found in Note 3(h).
(8)	Per share amounts have been calculated using the average shares method.
(9)	During the year ended December 31, 2007, Hartford Small Company HLS Fund received a $12.6 million in-kind subscription of securities from a shareholder in exchange for shares of this fund. This payment-in-kind was excluded from the portfolio turnover rate calculation.

­ ­  227  ­ ­

Report of Independent Registered Public Accounting Firm

The Board of Directors and Shareholders of
Hartford Series Fund, Inc. and
Hartford HLS Series Fund II, Inc.

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Disciplined Equity HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford Equity Income HLS Fund, Hartford Fundamental Growth HLS Fund, Hartford Global Advisers HLS Fund, Hartford Global Communications HLS Fund, Hartford Global Financial Services HLS Fund, Hartford Global Growth HLS Fund, Hartford Global Health HLS Fund, Hartford Global Technology HLS Fund, Hartford Growth HLS Fund, Hartford High Yield HLS Fund, Hartford Index HLS Fund, Hartford International Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford International Small Company HLS Fund, Hartford MidCap HLS Fund, Hartford MidCap Value HLS Fund, Hartford Money Market HLS Fund, Hartford Mortgage Securities HLS Fund, Hartford Small Company HLS Fund, Hartford Stock HLS Fund, Hartford Total Return Bond HLS Fund, and Hartford Value HLS Fund (twenty-six portfolios constituting the Hartford Series Fund, Inc.) and Hartford Growth Opportunities HLS Fund, Hartford LargeCap Growth HLS Fund, Hartford MidCap Growth HLS Fund, Hartford SmallCap Growth HLS Fund, Hartford SmallCap Value HLS Fund, Hartford U.S. Government Securities HLS Fund, and Hartford Value Opportunities HLS Fund (seven portfolios constituting the Hartford HLS Series Fund II, Inc.) (collectively, the “Funds”) as of December 31, 2007, and the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the periods indicated therein. These financial statements and financial highlights are the responsibility of the Funds’ management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Funds’ internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of investments owned as of December 31, 2007, by correspondence with the custodian, agent banks and brokers or by other appropriate auditing procedures where replies from agent banks or brokers were not received. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of each of the Funds listed above constituting portfolios within Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc. at December 31, 2007, the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the periods indicated therein, in conformity with U.S. generally accepted accounting principles.

ERNST & YOUNG LLP

Minneapolis, Minnesota

February 11, 2008

­ ­  228  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Funds and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Funds pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Funds. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 89 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut, 06104-2999, except that correspondence to Ms. Fagely, Ms. Fleege, and Ms. Settimi may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, age, current position with the Funds and date first elected or appointed to Hartford Series Fund, Inc. (“SF”) and Hartford HLS Series Fund II, Inc. (“SF2”), principal occupation, and, for directors, other directorships held. The Funds’ statement of additional information contains further information on the directors and is available free of charge by calling 1-800-862-6668 or writing to Hartford HLS Funds, c/o Individual Annuity Services, P.O. Box 5085, Hartford, CT 06102-5085.

Information on the aggregate remuneration paid to the directors by each Fund can be found in the Statements of Operations herein. The Funds pay a portion of the Chief Compliance Officer’s compensation, but otherwise do not pay salaries or compensation to any of their officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (age 61) Director since 2003, Chairman of the Litigation Committee; Co-Chairman of the Investment Committee

Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (age 67) Director since 2002 (SF) and 1986 (SF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (age 62) Director since 2001 (SF) and 2002 (SF2), Chairman of the Nominating Committee

Mr. Hill is a Partner of TSG Ventures L.P., a private equity investment company. Mr. Hill is a former partner of TSG Capital Group, a private equity investment firm that serves as sponsor and lead investor in leveraged buyouts of middle market companies.

Sandra S. Jaffee (age 66) Director since 2005

Ms. Jaffee is Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (age 63) Director since 2005, Chairman of the Compliance Committee

In June 2006, Mr. Johnston was appointed as Senior Advisor to The Carlyle Group, a global private equity investment firm. In May 2006, Mr. Johnston was elected to the Supervisory Board of Fresenius Medical Care AG & Co. KGaA, after its acquisition of Renal Care Group, Inc. in March 2006. Mr. Johnston joined Renal Care Group in November 2002 as a member of the Board of Directors and served as Chairman of the Board from March 2003 through March 2006. From September 1987 to December 2002, Mr. Johnston was with Equitable Securities Corporation (and its successors, SunTrust Equitable Securities and SunTrust Robinson Humphrey) serving in various investment banking and managerial positions, including Managing Director and Head of Investment Banking, Chief Executive Officer and Vice Chairman.

Phillip O. Peterson (age 63) Director since 2002 (SF) and 2000 (SF2), Chairman of the Audit Committee

Mr. Peterson is a mutual fund industry consultant. He was a partner of KPMG LLP (an accounting firm) until July 1999. Mr. Peterson joined William Blair Funds in February 2007 as a member of the Board of Trustees. From January 2004 to April 2005, Mr. Peterson served as Independent President of the Strong Mutual Funds.

Lemma W. Senbet (age 61) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

­ ­  229  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Directors and Officers (Unaudited) — (continued)

Interested Directors and Officers

Thomas M. Marra (age 49) Director since 2002

Mr. Marra is President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”). He is also a member of the Board of Directors for The Hartford. Mr. Marra was named President and COO of The Hartford in 2007. He has served as COO of Hartford Life, Inc. from 2000, as President of Hartford Life, Inc. since 2002, and as Director of Hartford Life, Inc.’s Investment Products Division from 1998 to 2000.

Lowndes A. Smith (age 68) Director since 1996 (SF) and 2002 (SF2), Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002.

David M. Znamierowski (age 47) Director since 1999 (SF) and 2005 (SF2)

Mr. Znamierowski currently serves as Director and President of Hartford Investment Management Company (“Hartford Investment Management”), as Chief Investment Officer and Executive Vice President for The Hartford and Hartford Life, Inc., as Director, Chief Investment Officer and Executive Vice President of Hartford Life Insurance Company (“Hartford Life”) and as Chief Investment Officer for Hartford Administrative Services Company (“HASCO”).

Other Officers

Robert M. Arena, Jr. (age 39) Vice President since 2006

Mr. Arena serves as Senior Vice President of Hartford Life and heads its Retail Product Management Group in the U.S. Wealth Management Division. Additionally, Mr. Arena is Director and Senior Vice President of HASCO, Manager and Senior Vice President/Business Line Principal of Hartford Investment Financial Services, LLC (“HIFSCO”) and Manager and Senior Vice President of HL Investment Advisors LLC, (“HL Advisors”). Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Scandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (age 49) Vice President, Treasurer, and Controller since 1993

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition she is Controller and Chief Financial Officer of HIFSCO.

Susan Fleege (age 48) Anti-Money Laundering (“AML”) Compliance Officer since 2005

Ms. Fleege has served as Chief Compliance Officer for HASCO since 2005 and for Hartford Investor Services Company, LLC, (“HISC”) since 2006. She also serves as the AML Compliance Officer for HASCO and HISC. Prior to joining Hartford Life in 2005, Ms. Fleege was Counsel for Ameriprise Financial Corporation from 2000 to 2005.

Thomas D. Jones, III (age 42) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (age 40) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (age 43) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and Director of its Investment Advisory Group in the U.S. Wealth Management Division. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

Denise A. Settimi (age 47) Vice President since 2005

Ms. Settimi currently serves as Chief Operating Officer and Assistant Vice President of HASCO. She is also Assistant Vice President of HIFSCO and Hartford Life. Previously, Ms. Settimi was with American Express Financial Advisors, where she was Director of Retirement Plan Services from 1997 to 2003.

John C. Walters (age 45) President since 2007¹

Mr. Walters currently serves as President of the U.S. Wealth Management Division and Director of Hartford Life, Inc. Mr. Walters also serves as Co-Chief Executive Officer, Co-President and Director of Hartford Life and Executive Vice President of The Hartford. Mr. Walters previously served as Executive Vice President and Director of the Investment Products Division of Hartford Life, Inc. Mr. Walters is also Chief Executive Officer, Manager and President of HIFSCO and HL Advisors. Previously, Mr. Walters was with First Union Securities.

¹  As of November 7, 2007

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Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

HOW TO OBTAIN A COPY OF THE FUNDS’ PROXY VOTING POLICIES AND PROXY VOTING RECORDS (UNAUDITED)

A description of the policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities and a record of how the Funds voted any proxies for the twelve-month period ended June 30, 2007 is available (1) without charge, upon request, by calling 800-862-6668 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION (UNAUDITED)

The Funds file a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Form N-Q will be available (1) without charge, upon request, by calling 800-862-6668 and (2) on the Securities and Exchange Commission’s website at www.sec.gov. The Forms N-Q may be reviewed and copied at the Securities and Exchange Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-202-551-8090.

SHAREHOLDER MEETING RESULTS (UNAUDITED)

The following proposals were addressed and approved at a special meeting of shareholders held on January 23, 2007.

Proposal to approve a plan of reorganization providing for the acquisition of all of the assets and liabilities of Hartford Capital Opportunities HLS Fund (the “Acquired Fund”) by Hartford Blue Chip Stock HLS Fund (The “Acquiring Fund”), a series of Hartford HLS Series Fund II, Inc., solely in exchange for shares of the Acquiring Fund followed by the complete liquidation of the Acquired Fund.

Fund	For		Against		Abstain
Hartford Capital Opportunities HLS Fund		1,271,875.921		73,262.424		183,212.445

Proposal to approve a plan of reorganization providing for the acquisition of all of the assets and liabilities of Hartford LargeCap Growth HLS Fund (the “Acquired Fund”) by Hartford Blue Chip Stock HLS Fund (The “Acquiring Fund”), a series of Hartford HLS Series Fund II, Inc., solely in exchange for shares of the Acquiring Fund followed by the complete liquidation of the Acquired Fund.

Fund	For		Against		Abstain
Hartford LargeCap Growth HLS Fund		5,355,118.815		175,856.665		401,314.425

The following proposal was addressed and approved during the period at a special meeting of shareholders held on September 25, 2007.

Proposal to approve a plan of reorganization providing for the acquisition of all of the assets and liabilities of Hartford International Stock HLS Fund (the “Acquired Fund”) by Hartford International Opportunities HLS Fund (the “Acquiring Fund”) solely in exchange for shares of the Acquiring Fund, followed by the complete liquidations of the Acquired Fund.

Fund	For		Against		Abstain
Hartford International Stock HLS Fund		4,603,436.242		186,436.010		451,576.359

­ ­  231  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs(in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of June 30, 2007 through December 31, 2007.

Actual Expenses

The first line of the table below provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6, then multiply the result by the number in the first line under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line of the table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would be higher.

Expenses are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid
	Beginning		Ending		during the period		Beginning		Ending		during the period					Days
	Account		Account		June 30, 2007		Account		Account		June 30, 2007		Annualized			in the		Days
	Value		Value		through		Value		Value		through		expense			current		in the
	June 30, 2007		December 31, 2007		December 31, 2007		June 30, 2007		December 31, 2007		December 31, 2007		ratio			1/2 year		full year
Hartford Advisers HLS Fund
Class IA	$	1,000.00	$	990.21	$	3.16	$	1,000.00	$	1,022.03	$	3.21		0.63	%		184		365
Class IB	$	1,000.00	$	987.69	$	4.41	$	1,000.00	$	1,020.77	$	4.48		0.88	%		184		365
Hartford Capital Appreciation HLS Fund
Class IA	$	1,000.00	$	1,044.82	$	3.45	$	1,000.00	$	1,021.83	$	3.41		0.67	%		184		365
Class IB	$	1,000.00	$	1,042.23	$	4.74	$	1,000.00	$	1,020.57	$	4.69		0.92	%		184		365
Hartford Disciplined Equity HLS Fund
Class IA	$	1,000.00	$	992.88	$	3.57	$	1,000.00	$	1,021.63	$	3.62		0.71	%		184		365
Class IB	$	1,000.00	$	990.36	$	4.82	$	1,000.00	$	1,020.37	$	4.89		0.96	%		184		365
Hartford Dividend and Growth HLS Fund
Class IA	$	1,000.00	$	988.79	$	3.36	$	1,000.00	$	1,021.83	$	3.41		0.67	%		184		365
Class IB	$	1,000.00	$	986.27	$	4.61	$	1,000.00	$	1,020.57	$	4.69		0.92	%		184		365
Hartford Equity Income HLS Fund
Class IA	$	1,000.00	$	997.48	$	4.23	$	1,000.00	$	1,020.97	$	4.28		0.84	%		184		365
Class IB	$	1,000.00	$	994.95	$	5.48	$	1,000.00	$	1,019.71	$	5.55		1.09	%		184		365
Hartford Fundamental Growth HLS Fund(1)
Class IA	$	1,000.00	$	1,043.22	$	4.33	$	1,000.00	$	1,020.97	$	4.28		0.84	%		184		365
Class IB	$	1,000.00	$	1,040.63	$	5.61	$	1,000.00	$	1,019.71	$	5.55		1.09	%		184		365
Hartford Global Advisers HLS Fund
Class IA	$	1,000.00	$	1,095.64	$	4.12	$	1,000.00	$	1,021.27	$	3.97		0.78	%		184		365
Class IB	$	1,000.00	$	1,092.99	$	5.43	$	1,000.00	$	1,020.01	$	5.24		1.03	%		184		365

­ ­  232  ­ ­

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid
	Beginning		Ending		during the period		Beginning		Ending		during the period					Days
	Account		Account		June 30, 2007		Account		Account		June 30, 2007		Annualized			in the		Days
	Value		Value		through		Value		Value		through		expense			current		in the
	June 30, 2007		December 31, 2007		December 31, 2007		June 30, 2007		December 31, 2007		December 31, 2007		ratio			1/2 year		full year
Hartford Global Communications HLS Fund
Class IA	$	1,000.00	$	1,115.92	$	4.85	$	1,000.00	$	1,020.62	$	4.63		0.91	%		184		365
Class IB	$	1,000.00	$	1,113.24	$	6.18	$	1,000.00	$	1,019.36	$	5.90		1.16	%		184		365
Hartford Global Financial Services HLS Fund
Class IA	$	1,000.00	$	893.16	$	4.58	$	1,000.00	$	1,020.37	$	4.89		0.96	%		184		365
Class IB	$	1,000.00	$	890.76	$	5.77	$	1,000.00	$	1,019.11	$	6.16		1.21	%		184		365
Hartford Global Growth HLS Fund(2)
Class IA	$	1,000.00	$	1,130.30	$	3.97	$	1,000.00	$	1,021.48	$	3.77		0.74	%		184		365
Class IB	$	1,000.00	$	1,127.60	$	5.31	$	1,000.00	$	1,020.21	$	5.04		0.99	%		184		365
Hartford Global Health HLS Fund
Class IA	$	1,000.00	$	1,014.74	$	4.42	$	1,000.00	$	1,020.82	$	4.43		0.87	%		184		365
Class IB	$	1,000.00	$	1,012.19	$	5.68	$	1,000.00	$	1,019.56	$	5.70		1.12	%		184		365
Hartford Global Technology HLS Fund
Class IA	$	1,000.00	$	1,011.68	$	4.61	$	1,000.00	$	1,020.62	$	4.63		0.91	%		184		365
Class IB	$	1,000.00	$	1,009.14	$	5.87	$	1,000.00	$	1,019.36	$	5.90		1.16	%		184		365
Hartford Growth HLS Fund
Class IA	$	1,000.00	$	1,074.36	$	4.34	$	1,000.00	$	1,021.02	$	4.23		0.83	%		184		365
Class IB	$	1,000.00	$	1,071.71	$	5.64	$	1,000.00	$	1,019.76	$	5.50		1.08	%		184		365
Hartford Growth Opportunities HLS Fund
Class IA	$	1,000.00	$	1,110.55	$	3.40	$	1,000.00	$	1,021.98	$	3.26		0.64	%		184		365
Class IB	$	1,000.00	$	1,107.88	$	4.73	$	1,000.00	$	1,020.72	$	4.53		0.89	%		184		365
Hartford High Yield HLS Fund
Class IA	$	1,000.00	$	990.05	$	3.61	$	1,000.00	$	1,021.58	$	3.67		0.72	%		184		365
Class IB	$	1,000.00	$	987.54	$	4.86	$	1,000.00	$	1,020.32	$	4.94		0.97	%		184		365
Hartford Index HLS Fund
Class IA	$	1,000.00	$	983.56	$	1.70	$	1,000.00	$	1,023.49	$	1.73		0.34	%		184		365
Class IB	$	1,000.00	$	981.05	$	2.95	$	1,000.00	$	1,022.23	$	3.01		0.59	%		184		365
Hartford International Growth HLS Fund(3)
Class IA	$	1,000.00	$	1,112.03	$	4.42	$	1,000.00	$	1,021.02	$	4.23		0.83	%		184		365
Class IB	$	1,000.00	$	1,109.36	$	5.74	$	1,000.00	$	1,019.76	$	5.50		1.08	%		184		365
Hartford International Opportunities HLS Fund
Class IA	$	1,000.00	$	1,143.62	$	3.84	$	1,000.00	$	1,021.63	$	3.62		0.71	%		184		365
Class IB	$	1,000.00	$	1,140.91	$	5.18	$	1,000.00	$	1,020.37	$	4.89		0.96	%		184		365
Hartford International Small Company HLS Fund
Class IA	$	1,000.00	$	967.85	$	4.36	$	1,000.00	$	1,020.77	$	4.48		0.88	%		184		365
Class IB	$	1,000.00	$	965.36	$	5.60	$	1,000.00	$	1,019.51	$	5.75		1.13	%		184		365
Hartford LargeCap Growth HLS Fund(4)
Class IA	$	1,000.00	$	995.40	$	2.31	$	1,000.00	$	1,022.89	$	2.35		0.46	%		184		365
Hartford MidCap HLS Fund
Class IA	$	1,000.00	$	985.64	$	3.45	$	1,000.00	$	1,021.73	$	3.52		0.69	%		184		365
Class IB	$	1,000.00	$	983.13	$	4.70	$	1,000.00	$	1,020.47	$	4.79		0.94	%		184		365
Hartford MidCap Growth HLS Fund
Class IA	$	1,000.00	$	968.85	$	3.18	$	1,000.00	$	1,021.98	$	3.26		0.64	%		184		365
Hartford MidCap Value HLS Fund
Class IA	$	1,000.00	$	874.50	$	3.78	$	1,000.00	$	1,021.17	$	4.08		0.80	%		184		365
Class IB	$	1,000.00	$	872.13	$	4.95	$	1,000.00	$	1,019.91	$	5.35		1.05	%		184		365
Hartford Money Market HLS Fund
Class IA	$	1,000.00	$	1,022.05	$	2.14	$	1,000.00	$	1,023.09	$	2.14		0.42	%		184		365
Class IB	$	1,000.00	$	1,019.51	$	3.41	$	1,000.00	$	1,021.83	$	3.41		0.67	%		184		365
Hartford Mortgage Securities HLS Fund
Class IA	$	1,000.00	$	1,020.95	$	2.45	$	1,000.00	$	1,022.79	$	2.45		0.48	%		184		365
Class IB	$	1,000.00	$	1,018.39	$	3.71	$	1,000.00	$	1,021.53	$	3.72		0.73	%		184		365
Hartford Small Company HLS Fund
Class IA	$	1,000.00	$	1,014.53	$	3.61	$	1,000.00	$	1,021.63	$	3.62		0.71	%		184		365
Class IB	$	1,000.00	$	1,011.98	$	4.87	$	1,000.00	$	1,020.37	$	4.89		0.96	%		184		365
Hartford SmallCap Growth HLS Fund
Class IA	$	1,000.00	$	896.42	$	3.01	$	1,000.00	$	1,022.03	$	3.21		0.63	%		184		365
Class IB	$	1,000.00	$	894.02	$	4.20	$	1,000.00	$	1,020.77	$	4.48		0.88	%		184		365

­ ­  233  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Expense Example (Unaudited) — (continued)

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid
	Beginning		Ending		during the period		Beginning		Ending		during the period					Days
	Account		Account		June 30, 2007		Account		Account		June 30, 2007		Annualized			in the		Days
	Value		Value		through		Value		Value		through		expense			current		in the
	June 30, 2007		December 31, 2007		December 31, 2007		June 30, 2007		December 31, 2007		December 31, 2007		ratio			1/2 year		full year
Hartford SmallCap Value HLS Fund
Class IA	$	1,000.00	$	890.28	$	4.57	$	1,000.00	$	1,020.37	$	4.89		0.96	%		184		365
Class IB	$	1,000.00	$	887.99	$	5.76	$	1,000.00	$	1,019.11	$	6.16		1.21	%		184		365
Hartford Stock HLS Fund
Class IA	$	1,000.00	$	957.82	$	2.47	$	1,000.00	$	1,022.68	$	2.55		0.50	%		184		365
Class IB	$	1,000.00	$	955.34	$	3.70	$	1,000.00	$	1,021.42	$	3.82		0.75	%		184		365
Hartford Total Return Bond HLS Fund
Class IA	$	1,000.00	$	1,036.38	$	2.57	$	1,000.00	$	1,022.68	$	2.55		0.50	%		184		365
Class IB	$	1,000.00	$	1,033.80	$	3.84	$	1,000.00	$	1,021.42	$	3.82		0.75	%		184		365
Hartford U.S. Government Securities HLS Fund
Class IA	$	1,000.00	$	1,031.07	$	2.41	$	1,000.00	$	1,022.84	$	2.40		0.47	%		184		365
Class IB	$	1,000.00	$	1,028.50	$	3.68	$	1,000.00	$	1,021.58	$	3.67		0.72	%		184		365
Hartford Value HLS Fund
Class IA	$	1,000.00	$	845.85	$	3.91	$	1,000.00	$	1,020.97	$	4.28		0.84	%		184		365
Class IB	$	1,000.00	$	843.51	$	5.06	$	1,000.00	$	1,019.71	$	5.55		1.09	%		184		365
Hartford Value Opportunities HLS Fund
Class IA	$	1,000.00	$	998.42	$	3.22	$	1,000.00	$	1,021.98	$	3.26		0.64	%		184		365
Class IB	$	1,000.00	$	995.88	$	4.48	$	1,000.00	$	1,020.72	$	4.53		0.89	%		184		365

(1)	Formerly known as Hartford Focus HLS Fund.
(2)	Formerly known as Hartford Global Leaders HLS Fund.
(3)	Formerly known as Hartford International Capital Appreciation HLS Fund.
(4)	Formerly known as Hartford Blue Chip Stock HLS Fund.

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Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Approval of Investment Management, Investment Advisory and Amended Investment Sub-Advisory Agreements (Unaudited)

Section 15(c) of the Investment Company Act of 1940, as amended (the “1940 Act”), requires that each mutual fund’s board of directors, including a majority of those directors who are not “interested persons” of the mutual fund, as defined in the 1940 Act (“Independent Directors”), annually review and consider the continuation of the mutual fund’s investment advisory and sub-advisory agreements after an initial two year period.

At a meeting held on August 7-8, 2007, the Boards of Directors (the “Board”) of the Funds, including each of the Independent Directors, unanimously voted to approve the investment management agreement for each Fund with an agreement up for renewal with HL Investment Advisors, LLC (“HL Advisors”) and the investment sub-advisory agreements between HL Advisors and each Fund’s respective sub-adviser(s) (“sub-advisers,” and together with HL Advisors, “advisers”) — Hartford Investment Management Company (“Hartford Investment Management”), Lazard Asset Management LLC (“Lazard”), Kayne Anderson Rudnick Investment Management, LLC, Metropolitan West Capital Management, LLC, SSgA Funds Management, Inc., and Wellington Management Company, LLP (“Wellington”) (collectively, the “agreements”). In the months preceding this meeting, the Board requested, received, and reviewed written responses from the advisers to questions posed to them on behalf of the Independent Directors and supporting materials relating to those questions and responses. In addition, the Board received in-person presentations about each Fund and the related agreements by Fund officers and representatives of HL Advisors at the Board’s meetings on June 19-20, 2007 and August 7-8, 2007. In considering the approval of the agreements, the Board also took into account information provided to the Board at its meetings throughout the year, including reports on Fund performance, compliance, shareholder services, and the other services provided to the Funds by the advisers and their affiliates.

The Independent Directors, advised by independent legal counsel, engaged two service providers to assist them with evaluating the agreements with respect to each Fund. Lipper, Inc. (“Lipper”), an independent provider of investment company data, was retained to provide the Board with reports on how each Fund’s management fees, administrative fees, overall expense ratios, and investment performance compared to those of mutual funds with similar investment objectives in various peer groups (“peer funds”). The Independent Directors also engaged an independent financial services consulting firm (the “Consultant”) to assist them in evaluating each Fund’s advisory fees, administrative fees, overall expense ratios and investment performance.

The Board considered the agreements for each Fund at the June and August meetings. In connection with these deliberations, HL Advisors agreed to (i) permanently reduce the contractual management fee with respect to Hartford High Yield HLS Fund; and (ii) remove or continue the voluntary management fee waiver with respect to certain Funds. In determining to continue the agreements for each Fund, the Board determined that the proposed management fee structure, taking into account these revisions, was fair and reasonable and that continuation of the agreements was in the best interests of each Fund and its shareholders. In determining to re-approve the agreements, the Board considered the following categories of material factors, among others, relating to the agreements.

Nature, Extent and Quality of Services

The Board requested and considered information concerning the nature, extent, and quality of the services provided to the Funds by the advisers. The Board considered, among other things, the terms of the agreements, the range of services provided, and each adviser’s organizational structure, systems and personnel.¹ The Board received information on the experience of senior management and relevant investment and other personnel of the advisers, and the adequacy of the time and attention devoted by them to the Funds. The Board considered each adviser’s reputation and overall financial strength, as well as its willingness to consider and implement organizational and operational changes, including hiring additional personnel, designed to improve services to the Funds, and its investments in infrastructure in light of increased regulatory requirements and other developments. The Board considered the progress that Hartford Investment Management has made in developing an equity management capability. In addition, the Board considered the quality of each adviser’s communications with the Board and responsiveness to Board inquiries.

The Board also requested and evaluated information concerning each adviser’s regulatory and compliance environment. In this regard, the Board requested and reviewed information on each adviser’s compliance policies and procedures, their compliance history, and a report from the Funds’ Chief Compliance Officer on each adviser’s compliance with applicable laws and regulations, including their responses to regulatory developments and compliance issues raised by regulators. The Board also noted the advisers’ support of the Funds’ compliance control structure, particularly the resources devoted by the advisers in support of the Funds’ obligations pursuant to Rule 38a-1 under the 1940 Act.

With respect to HL Advisors, the Board noted that under the agreements, HL Advisors is responsible for the management of each Fund, including overseeing fund operations and service providers, and it or Hartford Life provides administrative services to the Funds as well as the investment advisory services in connection with selecting, monitoring and supervising sub-advisers. The Board considered its experiences with HL Advisors and, for certain Funds, Hartford Life, with respect to each of these services. The Board considered that HL Advisors or its affiliates is responsible for providing the Funds’ officers and paying their salaries and expenses. In addition, the Board considered the nature and quality of the services provided to the Funds and their shareholders by HL Advisors’ affiliates.

With respect to the sub-advisers, who provide day-to-day portfolio management services, the Board considered the quality of each sub-adviser’s investment personnel, their ability to attract and retain qualified investment professionals, their investment philosophy and process, investment research capabilities and resources, performance record, trade execution capabilities and experience.

Based on these considerations, the Board concluded that it was satisfied with the nature, extent and quality of the services provided to the Funds by HL Advisors and each of the sub-advisers.

Performance of the Funds, HL Advisors, and the Sub-Advisers

The Board considered the investment performance of each Fund. In this regard, the Board considered information and materials provided to the Board from HL Advisors and Lipper comparing each Fund’s short-term and long-term investment performance over various periods of time with appropriate benchmark indices, and

¹ Certain Funds have entered into investment management agreements with HL Advisors under which HL Advisors provides investment advisory and certain administrative services to those Funds. Other Funds have entered into investment management agreements with HL Advisors for investment advisory services, and a separate administrative agreement with Hartford Life Insurance Company (“Hartford Life”), under which Hartford Life provides certain administrative services to those Funds. For those Funds that have separate management and administrative agreements, the Board considered the fees payable under both agreements in the aggregate.

­ ­  235  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Approval of Investment Management, Investment Advisory and Amended Investment Sub-Advisory Agreement (Unaudited) — (continued)

with a performance universe of funds selected by Lipper. This information included performance reports (provided by Lipper and HL Advisors) and discussions with portfolio managers and other representatives of the sub-advisers at Board meetings throughout the year, as well as the information provided especially for the annual contract review. The Board also considered the analysis provided by the Consultant relating to each Fund’s performance track record.

The Board considered HL Advisors’ cooperation with the Investment Committee, which assists the Board in evaluating the performance of the Funds at periodic meetings throughout the year. The Board reviewed the performance of each Fund over the different time periods presented in the materials and evaluated each adviser’s analysis of the Funds’ performance for these time periods, with specific attention to information indicating underperformance of certain Funds for specific time periods relative to a peer group or benchmark, and the causes for such underperformance. In evaluating the performance of each Fund, the Board also considered whether the Fund had been in operation for a sufficient time period to establish a meaningful performance track record.

The Board considered actions HL Advisors has taken to address performance. In particular, the Board considered HL Advisors’ initiatives over the course of the year to change portfolio managers with respect to the certain Funds in order to address performance. With respect to Hartford International Stock HLS Fund, sub-advised by Lazard, the Board considered HL Advisors’ plan to seek shareholder approval in September 2007 with respect to a plan of reorganization by which Hartford International Stock HLS Fund would be merged into Hartford International Opportunities HLS Fund, sub-advised by Wellington. Due to the timing of this proposed reorganization, the Board concluded that it would be in the best interests of each Fund’s shareholders to renew the existing sub-advisory agreement for these Funds while HL Advisors sought shareholder approval of the reorganization.

Based on these considerations, the Board concluded with respect to each Fund that the Fund’s performance over time has been satisfactory or, in the case of Hartford International Stock HLS Fund, that HL Advisors is addressing the Board’s concerns about investment performance, and the Board had continued confidence in HL Advisors’ and the sub-advisers’ overall capabilities to manage each Fund.

Costs of the Services and Profitability of HL Advisors and the Sub-Advisers

The Board reviewed information regarding HL Advisors’ cost to provide investment management and related services to the Funds and HL Advisors’ profitability, both overall and for each Fund, on a pre-tax basis without regard to distribution expenses. The Board considered the fact that HL Advisors has subsidized certain of the Funds’ fees and total operating expenses through voluntary management fee waivers or permanent reductions in management fee schedules. The Board also requested and reviewed information about the profitability to HL Advisors and its affiliates from all services provided to the Funds and all aspects of their relationship with the Funds. The Board noted that HL Advisors represented that the profitability information was calculated using the same methodology used by HL Advisors in 2006, a methodology which had been refined in 2006 as part of an independent third party review.

With respect to those Funds which are sub-advised by Hartford Investment Management, which is an affiliate of HL Advisors, the Board considered the costs and profitability information for HL Advisors and Hartford Investment Management in the aggregate. The Board also requested and received information relating to the operations and profitability of the other sub-advisers. In evaluating such sub-adviser’s profitability with respect to the Funds, the Board considered primarily HL Advisors’ and the sub-advisers’ representations that HL Advisors had negotiated the sub-advisory fees at arm’s length, and the sub-advisers’ representations that the fees charged to HL Advisors were comparable to fees charged by the sub-advisers to similar clients.

Based on these considerations, the Board concluded that the profits anticipated to be realized by the advisers and their affiliates from their relationships with the Funds would not be excessive.

Comparison of Fees and Services Provided by HL Advisors and the Sub-Advisers

The Board considered comparative information with respect to the investment management fees and administrative fees (for certain Funds) to be paid by the Funds to HL Advisors and its affiliates, the investment sub-advisory fees to be paid to the sub-advisers, and the total expense ratios of the Funds. In this regard, the Board requested and reviewed information from HL Advisors and each sub-adviser relating to the management fees, administrative fees (for certain Funds), sub-advisory fees, and total operating expenses for each Fund. The Board also reviewed written materials from Lipper providing comparative information about each Fund’s management fees, administrative fees and total expense ratios and the components thereof, relative to those of peer groups. While the Board recognized that comparisons between the Funds and peer funds are imprecise, given the differing service levels and characteristics of mutual funds, and the different business models and cost structures of advisers, the comparative information provided by Lipper assisted the Board in evaluating the reasonableness of each Fund’s management and sub-advisory fees and total operating expenses.

The Board particularly considered HL Advisors’ agreement to (i) permanently reduce the contractual management fee with respect to Hartford High Yield HLS Fund and (ii) remove or continue the voluntary management fee waiver with respect to certain Funds. HL Advisors has agreed to the following fee revisions, each effective January 1, 2008:

Hartford High Yield HLS Fund: (i) consolidate the management fee at the first two breakpoints into a single breakpoint at $500 million; (ii) reduce the management fee at the first breakpoint by 5 basis points (“bps”) and (iii) remove the 5 bps voluntary management fee waiver.

Hartford LargeCap Growth HLS Fund (formerly Hartford Blue Chip Stock HLS Fund): remove the 21 bps voluntary management fee waiver.

Hartford MidCap Growth HLS Fund (formerly Hartford MidCap Stock HLS Fund): remove the 20 bps voluntary management fee waiver.

Hartford Money Market HLS Fund: continue the 5 bps voluntary management fee waiver.

Based on these considerations, the Board concluded that each Fund’s fees and total operating expenses are within a range that is competitive with fees and total operating expenses charged by peer funds, and, in conjunction with the information about quality of services, profitability, economies of scale, and other matters discussed, are reasonable.

­ ­  236  ­ ­

Economies of Scale

The Board requested and considered information regarding the advisers’ realization of economies of scale with respect to the Funds, and whether the fee levels reflect these economies of scale for the benefit of each Fund’s investors. With respect to HL Advisors, the Board considered representations from HL Advisors that it is difficult to anticipate whether and to what extent economies may be realized by HL Advisors as assets grow over time. The Board reviewed the breakpoints in the advisory fee schedule for each Fund (and administrative fee schedule for certain Funds), which reduce fees as Fund assets grow over time. The Board recognized that Funds with assets beyond the last breakpoint level continue to benefit from economies of scale, because additional assets are charged the lowest breakpoint fee, resulting in lower overall effective management fee rates. The Board considered that certain Funds may achieve some economies as certain fixed expenses are spread over a larger asset base, noting that there is no precise way to measure such economies, and that certain expenses do not necessarily decrease as assets increase. The Board also considered that expense limitations and fee waivers that reduce Fund expenses at all asset levels can have the same effect as breakpoints in sharing economies of scale with shareholders, and that a schedule that reaches a lower breakpoint quickly provides shareholders with the benefit of anticipated or potential economies of scale.

The Board reviewed and evaluated materials from Lipper showing how management fee schedules of peer funds reflect economies of scale for the benefit of investors as a peer fund’s assets hypothetically increase over time. Based on information provided by HL Advisors, Lipper, and the Consultant, the Board recognized that there is no uniform methodology for establishing breakpoints, or uniform pattern in asset levels that trigger breakpoints or the amounts of breakpoints triggered.

After considering all of the information available to it, the Board concluded that it was satisfied with the extent to which economies of scale would be shared for the benefit of each Fund’s investors, based on currently available information and the effective advisory fees and expense ratios for the Funds at their current and reasonably anticipated asset levels. The Board noted, however, that it would continue to monitor future growth in Fund assets and the appropriateness of additional breakpoints.

Other Benefits

The Board considered other benefits to the advisers and their affiliates from their relationships with the Funds, including the role of the Funds in supporting the variable life insurance and variable annuity products offered by The Hartford. The Board reviewed information noting that Hartford Life, an affiliate of HL Advisors, receives fees from the certain Funds for providing certain administrative services for those Funds, and that Hartford Life also receives fees for fund accounting and related services from each of the Funds, and the Board considered information on expected profits to Hartford Life or its affiliates for such services. The Board considered the fact that Hartford Life had agreed to implement a new accounting services fee structure for the Funds with breakpoints. Based upon estimated expense information, this change will result in savings to Hartford-sponsored funds of approximately $250,000 per year.

The Board also considered that Hartford Investor Services Company, LLC (“HISC”), the Funds’ transfer agent and an affiliate of HL Advisors, receives transfer agency compensation from the Funds, and the Board reviewed information on the expected profitability of the Funds’ transfer agency function to HISC. The Board considered information provided by HL Advisors indicating that the fees charged by HISC to the Funds are reasonable and in line with industry standards.

The Board also considered that Hartford Securities Distribution Company, Inc. (“HSDC”), as principal underwriter of the Funds, receives 12b-1 fees from the Funds. The Board also noted that certain affiliates of HL Advisors distribute shares of the Funds and receive compensation in that connection.

The Board considered benefits to the sub-advisers from their proposed use of the Funds’ brokerage commissions to obtain soft dollar research, and representations from HL Advisors and the sub-advisers that the sub-advisers would not be making revenue-sharing or other payments to HL Advisors or its affiliates in connection with the distribution of the Funds.

The Board considered the benefits to shareholders of being part of the Hartford family of funds. The Board considered HL Advisors’ efforts to provide investors in the family with a broad range of investment styles and asset classes, and its entrepreneurial risk in initiating new funds to expand these opportunities for shareholders.

* * * *

Based upon its review of these various factors, among others, the Board concluded that it is in the best interests of the Funds and their shareholders for the Board to approve the agreements for an additional year. In reaching this decision, the Board did not assign relative weights to the factors discussed above or deem any one or group of them to be controlling in and of themselves. In connection with their deliberations, the Independent Directors met separately in executive session on several occasions, with independent legal counsel, to review the relevant materials and consider their responsibilities under relevant laws and regulations.

­ ­  237  ­ ­

Annual Report December 31, 2007
­ ­                                                     ­ ­

• Manager Discussions

• Financials

Hartford Advisers HLS Fund inception 3/31/1983

(subadvised by Wellington Management Company, LLP)
Investment objective — Seeks maximum long-term total return.

Performance Overview ¹ 12/31/97 – 12/31/07
Growth of $10,000 investment

Lehman Brothers Government/Credit Bond Index is a broad based 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 ^2,3 (as of 12/31/07)

	1 Year			5 Year			10 Year
Advisers IA		6.64	%		9.25	%		5.76	%
Advisers IB		6.37	%		8.98	%		5.52	%
Lehman Brothers Government/Credit Bond Index		7.23	%		4.43	%		6.01	%
S&P500 Index		5.49	%		12.83	%		5.91	%

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 April 1, 1998. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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	Vice President	Vice President

How did the Fund perform?

The Class IA shares of Hartford Advisers HLS Fund returned 6.64% for the twelve-month period ended December 31, 2007, versus the returns of 5.49% for the S&P 500 Index and 7.23% for the Lehman Brothers Government/Credit Bond Index. The Fund underperformed the 6.78% 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 and the remainder in bonds, cash, and cash equivalents.

Why did the Fund perform this way?

Financial markets were volatile during the year as strength in the U.S. equity markets during the first half of the period was followed by weakness in the latter part of the year due to subprime and credit worries. Bond markets experienced a flight-to-liquidity during the year as subprime weakness spread. As measured by the S&P 500 Index,

equity markets were up 5.49% while the bond market, as measured by the Lehman Brothers Government/Credit Bond Index, increased 7.23%. 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 of the Fund outperformed its benchmark while the fixed income portion lagged its benchmark slightly. Allocation detracted slightly from the Fund’s benchmark-relative (i.e. performance of the Fund as measured against the benchmark) performance due to the Fund’s consistent overweight (i.e. the Fund’s sector position was greater than the benchmark position) to equities whose returns trailed those of fixed income.

The Equity portion of the Fund outperformed its benchmark during the period due to strong stock selection. Positive selection within the Information Technology, Materials and Consumer Staples sectors contributed most while weak selection within the Consumer

1

Discretionary, Health Care and Telecommunication Services sectors detracted from relative returns.

Stocks that contributed the most to relative and absolute (i.e. total return) returns included Google (Information Technology), Occidental Petroleum (Energy), and Apple (Information Technology). Shares of internet search company Google rose during the latter part of the period as it continued to gain market share as thhe leading internet search company. Shares of Occidental Petroleum rose sharply when the company reported better-than-expected earnings driven by higher oil prices. Apple reported sharply higher profits due to strong sales of Macintosh computers and iPod products. The shares also benefited from enthusiasm over the June launch of the iPhone. We held our positions in these stocks at the end of the period.

Significant detractors from the Fund’s benchmark-relative returns included Financials stocks Countrywide Financial, Capital One and E*Trade. The collapse of the mortgage market caused shares of mortgage originator Countrywide to suffer as its asset quality deteriorated and the market worried that it was facing a liquidity crisis. Diversified financial company Capital One declined with investor concerns about the firm’s exposure to consumer credit. Broker and banking services provider E*Trade fell on credit concerns regarding the firm’s mortgage and home equity portfolios. In Consumer Discretionary, the Fund’s holdings in Circuit City and Comcast hurt relative and absolute performance.

The fixed income portion of the Fund trailed its benchmark during the twelve-month period due mainly to the Fund’s allocation to out-of-benchmark positions in mortgages. Elevated volatility and a lack of market liquidity led to forced selling of even higher quality assets, which negatively impacted the residential mortgage-backed securities (“MBS”) and commercial mortgage-backed securities (“CMBS”) sectors. The need by some leveraged investors, e.g. hedge funds and structured investment vehicles (“SIVs”), to take some risk off their balance sheets also contributed to forced selling and price declines. However, the Fund was able avoid the subprime catastrophe and was successful in navigating the multi-billion dollar downgrades of mortgage-related securities. On the positive side, strong selection within the investment grade credit sector was additive to relative returns.

What is the outlook?

We believe economic growth will continue to decelerate in 2008 and that the probability of a recession has increased with tighter credit conditions. However fixed income markets have already priced in this outcome. We expect the Federal Open Market Committee (the “Fed”) will continue to ease monetary policy consistent with Treasury market valuations and we therefore target a neutral duration (i.e. sensitivity to changes in interest rates) and yield curve posture. Corporate and mortgage sectors should benefit as the Fed action brings some stability back to the financial markets. Additionally, attractive valuations in the corporate and mortgage sector lead us to continue to underweight (i.e. the Fund’s sector position was less than the benchmark position) the government sector and overweight these spread sectors (i.e. those that offer yield premiums over Treasuries) relative to the benchmark.

The equity portion of Hartford Advisers HLS Fund is managed with an opportunistic large cap core investment approach. We look for companies that exhibit some or all of the following characteristics: industry leadership, strong balance sheets, solid management teams, high return on equity, accelerating earnings, and/or attractive valuation with a catalyst. Sector weights are the result of our bottom-up (i.e. stock by stock fundamental research) stock selection process. Based on individual stock decisions, the equity portion of the Fund ended the year overweight in Information Technology, Health Care, and Financials and underweight in the Utilities, Consumer Staples and Energy sectors.

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, 2007, the Fund’s equity exposure was at 65% compared to 60% in its benchmark and at the upper end of the 50-70% range, as we expect equities to outperform bonds and cash.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		3.4	%
Capital Goods		0.2
Consumer Cyclical		3.8
Consumer Staples		4.6
Energy		6.4
Finance		27.7
General Obligations		0.3
Health Care		10.2
Services		7.0
Technology		20.2
Transportation		0.3
U.S. Government Agencies		4.5
U.S. Government Securities		7.8
Utilities		1.9
Short-Term Investments		10.6
Other Assets and Liabilities		(8.9	)
Total		100.0	%

Distribution by Category
as of December 31, 2007

	Percentage of
Category	Net Assets
Asset & Commercial Mortgage Backed Securities		5.2	%
Common Stocks		65.0
Corporate Bonds: Investment Grades		15.0
Corporate Bonds: Non-Investment Grades		0.1
Municipal Bonds		0.3
Preferred Stocks		0.4
U.S. Government Agencies		4.5
U.S. Government Securities		7.8
Short-Term Investments		10.6
Other Assets and Liabilities		(8.9	)
Total		100.0	%

2

Hartford Capital Appreciation HLS Fundinception 4/2/1984

(subadvised by Wellington Management Company, LLP)
Investment objective — Seeks growth of capital.

Performance Overview¹ 12/31/97 — 12/31/07
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.

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^2,3(as of 12/31/07)

	1 Year			5 Year			10 Year
Capital Appreciation IA		16.83	%		21.75	%	13.64	%
Capital Appreciation IB		16.53	%		21.45	%	13.39	%
Russell 3000 Index		5.14	%		13.63	%	6.21	%

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 April 1, 1998. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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
Team 1	Team 2
Saul J. Pannell, CFA	Mario E. Abularach, CFA	Peter I. Higgins, CFA	James N. Mordy
Senior Vice President, Partner	Vice President, Equity Research Analyst	Vice President	Senior Vice President, Partner
Frank D. Catrickes, CFA	Nicolas M. Choumenkovitch	Jeffery L. Kripke	David W. Palmer, CFA
Senior Vice President, Partner	Vice President	Vice President	Vice President
	David R. Fassnacht, CFA	Paul E. Marrkand, CFA
	Senior Vice President, Partner	Vice President

How did the Fund perform?

The Class IA shares of Hartford Capital Appreciation HLS Fund returned 16.83% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the Russell 3000 Index, which returned 5.14% for the same period. The Fund also outperformed the 6.22% 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?

As measured by the Russell 3000 Index, equity markets ended broadly higher for the fifth year in a row, despite significant volatility during the latter part of the year. Every sector in the benchmark but two posted positive returns for the period, led by Energy (+31%), Materials (+26%), Utilities (+18%), and Information Technology (+15%). The laggards in this environment were Financials (-18%), which fell on credit and liquidity concerns across the sector, and Consumer Discretionary (-12%), which traded lower largely on deterioration in the housing market and concerns about potential spillover effects on the consumer.

Relative (i.e. performance of the Fund as measured against the benchmark) and absolute (i.e. total return) performance was robust. Strong stock selection drove the Fund’s relative outperformance, while allocation among sectors, a fallout of the bottom-up (i.e. stock by stock fundamental research) stock selection process, also produced positive results, due largely to an above-benchmark allocation to surging Materials stocks and a below-benchmark allocation to the underperforming Financials sector. Relative performance was particularly strong in the Materials, Financials, and Industrials sectors. Materials stocks made up three of the top four relative and absolute contributors during the year: Vale (also known as Companhia Vale do Rio Doce), Rio Tinto, and Freeport-McMoRan Copper all rose on continued strong demand for commodities including iron ore and copper. Another top contributor to performance was a position in search giant Google, which reported higher-than-expected earnings driven by strength in its core search-advertising business. German exchange Deutsche Boerse led the way among Financials stocks, while relative performance in Industrials benefited from positions in agricultural equipment maker Deere and Chinese solar component manufacturer Suntech Power.

3

Security selection was weakest in the Consumer Discretionary, Health Care, and Information Technology sectors. Our holdings in communications equipment company Nortel, Japanese auto maker Toyota, and financial services firm Capital One Financial were among the top detractors from relative results. Nortel is having difficulty meeting margin targets, putting pressure on its share price. Toyota saw its shares impacted by concern about weakening auto demand in the face of U.S. housing loan problems and the strengthening of the yen. Shares of Capital One declined with investor concerns about the firm’s exposure to consumer credit and mortgage markets. In addition, the Fund’s relative performance was hurt by its underweight (i.e. the Fund’s sector position was less than the benchmark position) position in ExxonMobil, whose shares rose significantly during the year. Absolute performance was negatively impacted by a position in Citigroup, which saw its shares fall in conjunction with concerns related to the firm’s exposure to subprime mortgages and corresponding write-downs.

What is the outlook?

We continue to focus our efforts on picking stocks one-at-a-time based on detailed fundamental research. These bottom-up investment decisions have resulted in a sizeable absolute weight in the Information Technology sector. Top positions include Google and hardware company IBM. Financials represents our second largest sector weighting, with positions in insurer ACE and asset manager Julius Baer our largest positions. Our exposure to the Materials sector represents our greatest overweight (i.e. the Fund’s sector position was greater than the benchmark position) relative to the benchmark, with positions in mining, steel, and chemicals stocks. Our lowest exposures are in the Utilities and Telecommunication Services sectors, while Consumer Staples represents our largest underweight relative to the Russell 3000 Index.

During the twelve-month period ended December 31, 2007, James H. Averill, a portfolio manager of the Fund, retired from Wellington Management Company and withdrew from active involvement in the Fund effective April 1, 2007. As of December 31, 2007, Team 1 (Saul Pannell and Frank Catrickes) managed approximately 86% of the Fund’s assets.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		16.8	%
Capital Goods		4.7
Consumer Cyclical		6.7
Consumer Staples		1.5
Energy		10.9
Finance		19.2
Health Care		8.5
Services		2.9
Technology		21.4
Transportation		0.9
Utilities		1.5
Short-Term Investments		12.7
Other Assets and Liabilities		(7.7	)
Total		100.0	%

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Australia		0.6	%
Austria		0.8
Belgium		0.3
Bermuda		0.0
Brazil		4.3
Canada		2.8
China		1.8
Egypt		0.7
Finland		0.1
France		0.7
Germany		1.1
Hong Kong		0.4
India		0.6
Ireland		0.2
Israel		0.8
Italy		0.1
Japan		0.8
Luxembourg		0.8
Mexico		0.1
Netherlands		0.1
Norway		0.1
Papua New Guinea		0.0
Russia		1.1
Singapore		0.0
South Africa		0.7
Spain		0.6
Sweden		0.2
Switzerland		2.8
Taiwan		0.8
Turkey		0.8
United Kingdom		4.4
United States		66.4
Short-Term Investments		12.7
Other Assets and Liabilities		(7.7	)
Total		100.0	%

12

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

(subadvised by Wellington Management Company, LLP)

Investment objective — Seeks a high level of current income consistent with growth of capital.

Performance Overview¹ 12/31/97 - 12/31/07
Growth of $10,000 investment

Russell 1000 Value Index measures 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^2,3(as of 12/31/07)

	1 Year	5 Year	10 Year
Dividend and Growth IA	8.26%	14.50%	8.22%
Dividend and Growth IB	7.98%	14.21%	7.98%
Russell 1000 Value Index	-0.17%	14.63%	7.68%
S&P 500 Index	5.49%	12.83%	5.91%

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 April 1, 1998. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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 Hartford Dividend and Growth HLS Fund returned 8.26% for the twelve-month period ended December 31, 2007, versus the returns of 5.49% for the S&P 500 Index and -0.17% for the Russell 1000 Value Index. The Fund also outperformed the 2.69% 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?

Equity markets faltered after a strong start to the year as concerns over subprime mortgages and rising energy prices weighed heavily on the U.S. consumer. Despite the volatility over the last six-months, broad indices still managed to squeeze out mostly positive returns. Large cap equities (+5.5%) outpaced small cap stocks (-1.6%) but underperformed mid caps (+8.0%) as represented by the S&P 500 Index, Russell 2000 Index, and S&P MidCap 400 Index, respectively. Reversing the trend from previous years, growth-oriented stocks (+11.8%) dominated value-oriented stocks (-0.2%). During the twelve-month period, Energy (+33%), Materials (+22%) and Utilities (+19%) were clear leaders within the broad market, as represented by the S&P 500 Index, while Financials (-19%) and Consumer Discretionary (-13%) posted negative returns.

The Fund’s outperformance relative (i.e. performance of the Fund as measured against the benchmark) to the S&P 500 Index was due primarily to sector allocation. Our overweight (i.e. the Fund’s sector position was greater than the benchmark position) allocation to outperforming Energy and Materials and underweight (i.e. the Fund’s sector position was less than the benchmark position) to lagging Financials and Consumer Discretionary stocks contributed positively to benchmark-relative performance. The Fund’s underweight to Information Technology was a detractor. Stock selection also helped returns. Strong selection in Consumer Discretionary, Consumer Staples and Utilities more than offset weak security selection in the Financials and Information Technology sectors.

5

The Fund’s top three contributors to relative performance over the period were Deere (Industrials), Agrium (Materials), and Chevron (Energy). Deere’s shares continue to climb as the company realizes growing agriculture equipment sales. Shares of agricultural producer and retailer Agrium rose sharply after its announced acquisition of UAP Holdings, a distributor of crop production supplies. Chevron’s shares continue to benefit from higher energy prices. Results were also boosted by a gain from the sale of its holdings in power wholesaler Dynegy. At the end of the period, we held our positions in these three stocks. The Fund also benefited from its position in AT&T.

Detractors from relative performance included MBIA (Financials), UBS (Financials), and Comcast (Consumer Discretionary). After strong performance in 2006, bond insurer MBIA pulled back in price, in part on concerns that rising default rates for sub-prime mortgages would negatively impact home equity asset-backed securities that it has insured. Diversified financials firm UBS was hurt by the credit and liquidity crises that impacted markets during the third and fourth quarters. Comcast, the largest cable TV provider in the U.S., continues to experience increased competition from Verizon, AT&T and Satellite TV providers. Shares fell as the company reported that it lost more subscribers than expected. Fund results relative to the benchmark were also negatively impacted by not owning Apple, which was a strong performer during the year as the company reported sharply higher profits due to strong sales of Macintosh computers and iPod products and the introduction of the iPhone. On an absolute (i.e. total return) basis, the Fund’s position in Citigroup hurt performance as the company experienced significant losses on its mortgage portfolio. We held our positions in all of these stocks at the end of the period.

What is the outlook?

Our discipline is focused on identifying industries where supply/demand conditions remain favorable. We remain overweight Energy, as global demand remains strong and supply is constrained. Also, we continue to see favorable supply/demand characteristics in the agriculture markets. We have further increased our underweight to Information Technology by eliminating hardware companies EMC and Motorola and trimming Microsoft. We have increased our exposure to Financials but still remain underweight the sector.

Based on these views and our bottom-up (i.e. stock by stock fundamental research) stock selection, at the end of the period, relative to the S&P 500 Index, the Fund was most overweight Energy, Materials, and Utilities and most underweight Information Technology, Financials, and Consumer Discretionary.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		7.9	%
Capital Goods		4.3
Consumer Cyclical		7.9
Consumer Staples		6.3
Energy		18.4
Finance		14.5
Health Care		11.3
Services		6.7
Technology		14.9
Transportation		1.0
Utilities		5.7
Short-Term Investments		3.1
Other Assets and Liabilities		(2.0	)
Total		100.0	%

6

Hartford International Opportunities HLS Fund inception 7/2/1990

(subadvised by Wellington Management Company, LLP)

Performance Overview ¹ 12/31/97 – 12/31/07
Growth of $10,000 investment

MSCI All Country World ex U.S. Index is a free float-adjusted market capitalization index which measures the performance of companies within the telecommunications sector across both developed and emerging market countries. 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.

Investment objective — Seeks long-term growth of capital.

Average Annual Returns ^2,3 (as of 12/31/07)

	1 Year			5 Year			10 Year
International Opportunities IA		27.43	%		23.36	%		9.60	%
International Opportunities IB		27.11	%		23.05	%		9.35	%
MSCI All Country World ex U.S. Index		17.12	%		24.52	%		10.09	%

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 April 1, 1998. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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
Vice President

How did the Fund perform?

The Class IA shares of Hartford International Opportunities HLS Fund returned 27.43% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the MSCI All Country World ex U.S. Index, which returned 17.12% for the same period. The Fund also outperformed the 12.63% 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?

International equity markets rose strongly during the period. Every sector in the MSCI All Country World ex U.S. Index rose, led by Materials (+40%), Telecommunication Services (+36%), and Energy (+32%). Health Care (+2%), Financials (+4%), and Consumer Discretionary (+6%) put up positive returns but trailed the broader market as the U.S. subprime market worries were felt globally in the latter half of the year. From a regional perspective Emerging Markets (+39%), Asia ex-Japan (+32%), and North American (+30%) stocks performed particularly well, while Japan (-4%) and the U.K. (+8%) lagged the broader market.

The Fund’s outperformance was due to strong stock selection, particularly in the Financials and Materials sectors. Aggregate level sector allocation also contributed slightly to performance as an underweight (i.e. the Fund’s sector position was less than the benchmark position) allocation to lagging Financials stocks helped benchmark-relative (i.e. performance of the Fund as measured against the benchmark) returns while a slight underweight to surging Materials detracted from relative results.

Top relative contributors to performance during the period included Hong Kong Exchanges (Financials), Research In Motion (Information Technology), and MMX Mineracao e Meta (Materials). Shares of Hong Kong Exchanges, the owner and operator of stock and futures exchanges in Hong Kong, rose substantially amid news of accelerating bourse consolidation worldwide and continuing positive fund flows. Consumer electronic device company Research In Motion moved higher on expectations of market share gains. Shares of small Brazilian mining company MMX Mineracao e Meta rose as Wall Street investors revised earnings growth expectations upward on a positive export

7

outlook, driven by the company’s low cost position and strong management team. On an absolute (i.e. total return) basis, Materials company Rio Tinto and Technology Company Nokia were also top contributors. Rio Tinto’s stock price benefited from solid iron ore fundamentals as strong Chinese demand sustains tight capacity. Nokia’s shares rose following the introduction of several successful new handset models and an aggressive cost control program that has helped the company’s bottom-line. In Energy, the Fund benefited from its holding in China Shenhua, an integrated, coal-based, Chinese energy company. The company has been a beneficiary of rising coal prices in China. We continued to hold Research in Motion, MMX Mineracao e Meta, Rio Tinto and Nokia at the end of the period.

Stocks that had the greatest negative impact on relative returns during the period included Ericsson (Information Technology), Soitec (Information Technology), and Nortel Networks (Information Technology). Shares of mobile phone maker Ericsson fell as execution challenges resulted in lower-than-expected third quarter results. Soitec’s stock price fell on worries about the near-term outlook at major customer AMD as well as slower-than-expected end market demand for micro processors. We sold the shares due to concerns that business trends were softer than expected. Shares of Canadian phone equipment manufacturer Nortel tumbled during the year on news of a delay in filing its annual report, lower-than-expected annual guidance, and former company officers being charged by the Securities and Exchange Commission (“SEC”). We had lower confidence in the turnaround at Nortel and have eliminated the stock from the Fund. We held Ericsson at the end of the period.

What is the outlook?

At a sector level, recent price weakness within Financials is creating attractive opportunities and we are beginning to selectively add exposure. To date, we have avoided companies with high credit exposure, and have preferred asset managers and exchanges. Now that many Financials stocks declined by more than 80%, we are reassessing the risk/reward profiles of a broader set of opportunities. In particular, we are looking for leading companies with strong management teams who can execute on market share gains, especially those possessing strong balance sheets and compelling valuations. We took profits within Materials as several holdings reached our price targets. At the end of the period, the Fund was most overweight (i.e. the Fund’s sector position was greater than the benchmark position) Consumer Staples and Industrials and most underweight Financials and Consumer Discretionary.

During the year, we took advantage of compelling entry points to establish positions across sectors and regions. We trimmed positions in select Emerging Markets Financials that have performed well, including Turkish banks (Akbank) and Brazilian holdings (Banco Bradesco), which have reached our price targets. Though we are finding a number of attractive opportunities in Emerging Markets, we are also looking out for inflationary pressures, as savings rates increase and input costs continue to escalate.

Diversification by Country

as of December 31, 2007

	Percentage of
Country	Net Assets
Australia		0.1	%
Austria		1.2
Belgium		0.3
Brazil		5.4
Canada		3.8
China		3.9
Egypt		1.4
Finland		2.7
France		8.2
Germany		11.2
Hong Kong		3.1
India		2.0
Ireland		1.9
Italy		3.5
Japan		10.2
Luxembourg		0.9
Mexico		0.8
Netherlands		5.9
Norway		2.8
Papua New Guinea		0.5
Russia		4.1
South Africa		1.5
Spain		2.2
Sweden		1.3
Switzerland		5.8
Turkey		0.4
United Kingdom		10.8
United States		3.2
Short-Term Investments		14.3
Other Assets and Liabilities		(13.4	)
Total		100.0	%

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		12.3	%
Capital Goods		1.8
Consumer Cyclical		8.8
Consumer Staples		10.1
Energy		8.0
Finance		21.3
Health Care		6.8
Services		2.1
Technology		19.7
Transportation		3.5
Utilities		4.7
Short-Term Investments		14.3
Other Assets and Liabilities		(13.4	)
Total		100.0

8

Hartford Small Company HLS Fund inception 8/9/1996

(subadvised by: Wellington Management Company, LLP

Hartford Investment Management Company)

Investment objective — Seeks growth of capital.

Performance Overview¹ 12/31/97 - 12/31/07
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 Returns² (as of 12/31/07)

	1 Year			5 Year			10 Year
Small Company IA		14.23	%		22.56	%		10.20	%
Small Company IB		13.94	%		22.26	%		9.95	%
Russell 2000 Growth Index		7.05	%		16.49	%		4.32	%

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.

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 C. Mortimer	Mario E. Abularach, CFA	Hugh Whelan
Senior Vice President, Partner	Vice President	Vice President	Managing Director

How did the Fund perform?

The Class IA shares of Hartford Small Company HLS Fund returned 14.23% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the Russell 2000 Growth Index which returned 7.05% for the same period. The Fund also outperformed the 9.06% 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?

After a strong start, U.S. equity markets struggled in the latter part of the year as a result of problems in the sub-prime mortgage market and the subsequent reduction in liquidity throughout the financial system. The best performing sectors within the Russell 2000 Growth Index during this period were Utilities (+33%), Materials (+29%), Energy (+14%), and Health Care (+13%), while Financials (-12%), Consumer Discretionary (-2%), and Telecommunication Services (-2%) lagged.

Favorable security selection within several sectors drove outperformance during the period. Consumer Discretionary, Materials and Energy were areas of particular strength relative (i.e. performance of the Fund as measured against the benchmark) to the benchmark. Terra Industries (Materials), Denbury Resources (Energy), and Dade Behring (Health Care) were the top contributors to relative and absolute (i.e. total return) performance. Terra Industries, a nitrogen fertilizer products company, benefited from strong agricultural demand, and we trimmed our position as the shares neared our price target. Denbury Resources, an oil-focused exploration and production company, reported earnings ahead of expectations, aided by record production levels and higher oil prices. Dade Behring, a manufacturer and distributor of diagnostic products and services to clinical laboratories, was acquired by Siemens. We sold the shares at a significant gain. Other top contributors included engineering software firm Ansys and online travel company Priceline.com.

Stocks that detracted from performance during the period included Kenexa (Industrials), Soitec (Information Technology), and Live Nation (Consumer Discretionary). Kenexa, a human resources software company, suffered due to lower than expected earnings during the fourth quarter as customers put off buying software packages. We eliminated the position. Soitec, a French licensor of technology used to manufacture specialist wafers used in microprocessor and high frequency applications, declined primarily on concerns that AMD’s new processor line (which uses Soitec’s wafers) could be delayed.

9

Coincident sluggish sales of the PlayStation 3 game console (which also uses Soitec’s wafers) compounded the issue. Shares of Live Nation, a leading concert promoter and live entertainment venue manager, sold off after the company released disappointing quarterly earnings results. Inherent choppiness of the concert business together with acquisition and divestiture activity make it difficult to predict short term results. We remain holders of the stock. ViroPharma (Health Care) and CompuCredit (Financials) were also among the detractors from relative performance. ViroPharma fell after it stopped trials of an important pipeline drug. The fact that the company’s existing drugs face the prospect of greater competition from generics put further pressure on its stock price. CompuCredit was weighed down by the sub-prime mortgage market troubles, and dropped dramatically after it reported earnings that missed analyst estimates.

What is the outlook?

We believe that rising commodity prices, particularly energy and food, and fallout from turmoil in U.S. real estate markets will continue to play out in the year ahead. In addition, the ultimate impact of actions taken by central banks around the globe to ameliorate credit market woes remains unknown. Even so, a backdrop of potential uncertainty and volatility can create excellent longer term investment opportunities. Our intention is to stay keenly focused on identifying stocks of companies whose future growth is under-appreciated and under-priced. We ended the period most overweight (i.e. the Fund’s sector position was greater than the benchmark position) the Materials, Energy, and Consumer Discretionary sectors and most underweight (i.e. the Fund’s sector position was less than the benchmark position) the Health Care, Industrials and Financial sectors.

During the twelve-month period ended December 31, 2007 Hugh Whelan replaced Mark Waterhouse as portfolio manager for the Hartford Investment Management Company sleeve of the Fund. This transition was effective on April 2, 2007.

Diversification by Industry
as of December 31, 2007

	Percentage
Industry	Net Assets
Basic Materials		12.2	%
Capital Goods		6.2
Consumer Cyclical		10.3
Consumer Staples		0.8
Energy		6.8
Finance		10.7
Health Care		13.3
Services		12.4
Technology		28.7
Transportation		0.6
Utilities		0.1
Short-Term Investments		21.0
Other Assets and Liabilities		(23.1	)
Total		100.0

10

Hartford Stock HLS Fund inception 8/31/1977

(subadvised by Wellington Management Company, LLP)

Performance Overview ¹ 12/31/97 - 12/31/07

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 objective – Seeks long-term growth of capital.

Average Annual Returns ^2,3 (as of 12/31/07)

	1 Year			5 Year			10 Year
Stock IA		5.90	%		11.89	%		5.65	%
Stock IB		5.64	%		11.61	%		5.42	%
S&P 500 Index		5.49	%		12.83	%		5.91	%

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 April 1, 1998. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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	Vice President

How did the Fund perform?

The Class IA shares of Hartford Stock HLS Fund returned 5.90% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the S&P 500 Index which returned 5.49% for the same period. The Fund also outperformed the 5.78% 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?

Equity markets faltered after a strong start to the year as concerns over subprime mortgages and rising energy prices weighed heavily on the U.S. consumer. Despite the volatility over the last six months, broad indices still managed to squeeze out mostly positive returns. Large cap equities (+5.5%) outpaced small cap stocks (-1.6%) but underperformed mid caps (+8.0%) as represented by the S&P 500 Index, Russell 2000 Index, and S&P MidCap 400 Index, respectively. Reversing the trend from previous years, growth-oriented stocks (+11.8%) dominated value-oriented stocks (-0.2%), as measured by the Russell 1000 Growth Index and Russell 1000 Value Index, respectively. During the twelve month period, Energy (+33%), Materials (+22%) and Utilities (+19%) were clear leaders within the broad market, as represented by the S&P 500 Index, while Financials (-19%) and Consumer Discretionary (-13%) posted negative returns.

The Fund’s outperformance versus the benchmark was driven primarily by security selection. Selection was strongest within the Information Technology, Materials and Consumer Staples sectors. Stocks that contributed the most to benchmark-relative (i.e. performance of the Fund as measured against the benchmark) returns included Apple (Information Technology), Google (Information Technology), and Occidental Petroleum (Energy). Consumer electronics company Apple reported sharply higher profits due to strong sales of Macintosh computers and iPod products. The shares also benefited from enthusiasm over the recent launch of the iPhone. Shares of internet search company Google rose during the latter part of the period as it continued to gain market share as the leading internet search company. Shares of Occidental Petroleum rose sharply along with energy prices. In Materials, the Fund benefited from its holdings in mineral exploration and development company Freeport-McMoRan, which rose on strong commodity pricing trends and benefits from its merger with Phelps Dodge. We held our positions in these stocks at the end of the period.

Stock selection within the Consumer Discretionary, Health Care and Telecommunication Services sectors hurt relative performance. Top detractors from the Fund’s benchmark-relative returns included Financials stocks Countrywide Financial, Capital One and E*Trade. The collapse of the mortgage market caused mortgage originator

11

Countrywide to suffer as its asset quality deteriorated and the market worried that it was facing a liquidity crisis. Diversified financial company Capital One declined with investor concerns about the firm’s exposure to consumer credit. Broker and banking services provider E*Trade fell on credit concerns regarding the firm’s mortgage and home equity portfolios. In Consumer Discretionary, the Fund’s holdings in Circuit City and D.R. Horton hurt relative performance, while within Telecommunication Services, the Fund’s holding of Sprint-Nextel detracted most from performance.

What is the outlook?

The Fund continues to be managed with a large cap, core investment approach. We apply a bottom-up (i.e. stock by stock fundamental research) investment process in constructing a diversified portfolio and seek companies that exhibit industry leadership, strong balance sheets, solid management, high return on equity, accelerating earnings, and/or attractive valuation with a catalyst. Our bottom-up investment approach resulted in the Fund being overweight (i.e. the Fund’s sector position was greater than the benchmark position) Information Technology, Health Care and Financials and underweight (i.e. the Fund’s sector position was less than the benchmark position) Utilities, Consumer Staples and Energy at the end of the period.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		5.0	%
Consumer Cyclical		4.2
Consumer Staples		5.2
Energy		9.5
Finance		22.6
Health Care		14.9
Services		9.5
Technology		27.5
Transportation		0.2
Utilities		1.0
Short-Term Investments		4.2
Other Assets and Liabilities		(3.8	)
Total		100.0	%

12

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

(subadvised by Hartford Investment Management Company)

Performance Overview¹ 12/31/97 - - 12/31/07

Growth of $10,000 investment

Lehman Brothers U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Lehman Brothers Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed 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 objective – Seeks a competitive total return, with income as a secondary objective.

Average Annual Returns^2,3 (as of 12/31/07)

	1 Year	5 Year	10 Year
Total Return Bond IA	4.67%	4.86%	6.06%
Total Return Bond IB	4.41%	4.60%	5.82%
Lehman Brothers U.S. Aggregate Bond Index	6.97%	4.43%	5.97%

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 April 1, 1998. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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

Nasri Toutoungi

Managing Director

How did the Fund perform?

The Class IA shares of Hartford Total Return Bond HLS Fund returned 4.67% for the twelve-month period ended December 31, 2007, underperforming the Lehman Brothers U.S. Aggregate Bond Index, which returned 6.97%, 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 6.25%.

Why did the Fund perform this way?

Although the U.S. economy grew at a solid pace for much of the year, signs of slowing emerged in the fourth quarter as the subprime mortgage market problems appeared to be spreading to exert a drag on the broader economy. The contraction in credit and market liquidity that occurred during the period led the Federal Open Market Committee (the “Fed”) to lower the target federal funds rate on three separate occasions between September and December, bringing the rate to 4.25% at year end. These reductions, coupled with a flight to quality, pushed Treasury yields lower, particularly on the short end of the yield curve, helping Treasuries to outperform all other sectors of the market.

Various factors contributed to the Fund’s underperformance versus the benchmark Lehman Brothers U.S. Aggregate Bond Index. An underweight (i.e. the Fund’s sector position was less than the benchmark position) to Treasuries in favor of spread (or non-Treasury) sectors was a considerable factor as Treasuries outperformed. The Fund held an overweight (i.e. the Fund’s sector position was greater than the benchmark position) to the Financials sector, which was particularly hard hit by the credit and liquidity crunch. We favored this sector over Industrials as corporate event risk in the Industrial sector remained high due to the large amount of leveraged buyout activity. The Fund’s small exposure to home equity, which we modestly increased in March and April, also hindered relative (i.e. performance of the Fund as measured against the benchmark) performance.

Although the high-yield segment of the market performed quite well in the first half of the year, growing risk aversion in the latter half of the year caused spreads to widen dramatically, causing the Fund’s exposure there to hamper returns. Holdings in bank loans, which we had perceived to be relatively safer than high-yield, also struggled during the period.

On a more positive note, the Fund’s non-dollar exposure served it well as the dollar fell for much of the period. The Fund’s yield-curve positioning also helped performance by taking advantage of the steepening in the curve (i.e. short and long term interest rates moving farther apart) during the year.

13

What is your outlook?

Although the economy has held up fairly well to date, supported in part by a strong employment picture, emerging signs of weakness in employment and in retail sales suggest slow growth in the months ahead. The credit crisis has clouded visibility around the economy and significantly increased the probability of recession. Given this, we believe it is likely that the Fed will continue in its efforts to boost liquidity, which would cause the yield curve to further steepen.

We are cautious as we move into 2008. In an effort to help reduce the impact of a potential supply/demand imbalance within the bank loan and high yield sectors, we have trimmed the Fund’s exposure there while retaining those bonds that we believe have been unduly penalized. We will look to add foreign bond exposure in the coming year as Europe and the U.K. lag behind the U.S. in their respective cycles and, therefore, appear to offer compelling opportunities.

Distribution by Credit Quality

as of December 31, 2007

	Percentage of
	Long-Term
Rating	Holdings
AAA	58.9	%
AA	4.7
A	10.4
BBB	12.8
BB	8.2
B	2.9
CCC	0.8
C	0.0
NR	1.3
Total	100.0	%

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials	2.6	%
Capital Goods	0.8
Consumer Cyclical	2.2
Consumer Staples	0.9
Energy	1.8
Finance	30.0
Foreign Governments	0.8
General Obligations	0.2
Health Care	1.1
Housing (HFA’S, etc.)	0.0
Services	4.5
Technology	4.6
Transportation	0.7
U.S. Government Agencies	38.0
U.S. Government Securities	2.9
Utilities	2.8
Short-Term Investments	10.2
Other Assets and Liabilities	(4.1	)
Total	100.0	%

14

Hartford Advisers HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 65.0%
		Basic Materials — 3.4%
	204	Agrium, Inc.	$	14,717
	1,810	Alcoa, Inc.		66,148
	321	ArcelorMittal		24,829
	862	Cameco Corp. (G)		34,296
	362	Consol Energy, Inc.		25,876
	437	Freeport McMoRan Copper & Gold, Inc.		44,756
	1,938	Mitsubishi Rayon Co., Ltd. (A)		9,343
	157	United States Steel Corp.		18,963
	999	Uranium One, Inc. (D)		8,942
				247,870
		Consumer Cyclical — 2.8%
	11,241	Buck Holdings L.P. (A)(D)(H)		10,117
	1,903	Kohl’s Corp. (D)		87,162
	3,093	Lowe’s Cos., Inc.		69,957
	980	Supervalu, Inc.		36,758
				203,994
		Consumer Staples — 3.4%
	111	Bunge Ltd. Finance Corp. (G)		12,910
	7	Japan Tobacco, Inc. (A)		38,811
	1,022	PepsiCo, Inc.		77,577
	1,669	Procter & Gamble Co.		122,553
				251,851
		Energy — 6.2%
	769	Chesapeake Energy Corp. (G)		30,160
	374	ConocoPhillips Holding Co.		33,024
	726	EnCana Corp. (G)		49,366
	1,211	Exxon Mobil Corp.		113,431
	1,073	Halliburton Co.		40,663
	1,547	OAO Gazprom ADR		87,706
	1,360	Occidental Petroleum Corp.		104,668
				459,018
		Finance — 14.4%
	2,135	American International Group, Inc.		124,476
	2,797	Bank of America Corp.		115,425
	1,265	Capital One Financial Corp.		59,798
	751	Citigroup, Inc.		22,101
	2,533	Countrywide Financial Corp. (G)		22,642
	3,159	Discover Financial Services (G)		47,639
	469	Federal Home Loan Mortgage Corp.		15,986
	1,181	Federal National Mortgage Association		47,196
	446	Goldman Sachs Group, Inc.		95,891
	1,116	ING Groep N.V. ADR		43,404
	2,819	Invesco Ltd. (G)		88,470
	330	Merrill Lynch & Co., Inc.		17,717
	865	Morgan Stanley		45,956
	782	State Street Corp. (G)		63,506
	1,773	UBS AG		81,573
	1,504	UnitedHealth Group, Inc.		87,510
	2,399	Washington Mutual, Inc. (G)		32,650
	2,168	Western Union Co.		52,646
				1,064,586
		Health Care — 9.6%
	560	Astellas Pharma, Inc. (A)		24,279
	517	AstraZeneca plc (A)		22,263
	802	Daiichi Sankyo Co., Ltd. (A)		24,667
	585	Eisai Co., Ltd. (A)		22,880
	3,390	Elan Corp. plc ADR (D)(G)		74,501
	1,326	Eli Lilly & Co.		70,785
	782	Genentech, Inc. (D)		52,462
	1,559	Medtronic, Inc.		78,346
	1,091	Sanofi-Aventis S.A. ADR		49,682
	2,903	Schering-Plough Corp.		77,347
	2,723	Shionogi & Co., Ltd. (A)		48,276
	445	UCB S.A. (A)		20,205
	667	Vertex Pharmaceuticals, Inc. (D)(G)		15,492
	1,260	Walgreen Co.		47,985
	1,802	Wyeth		79,648
				708,818
		Services — 6.3%
	664	Accenture Ltd. Class A		23,906
	5,173	Comcast Corp. Class A (D)		94,455
	813	Monster Worldwide, Inc. (D)		26,325
	4,074	Time Warner, Inc.		67,255
	1,413	United Parcel Service, Inc. Class B		99,927
	1,183	Viacom, Inc. Class B (D)		51,971
	1,802	Waste Management, Inc.		58,865
	3,389	XM Satellite Radio Holdings, Inc. Class A (D)(G)		41,483
				464,187
		Technology — 18.1%
	444	Apple, Inc. (D)		87,868
	3,971	Applied Materials, Inc.		70,521
	1,498	AT&T, Inc.		62,261
	1,617	Broadcom Corp. Class A (D)		42,261
	4,649	Cisco Systems, Inc. (D)		125,835
	1,357	Corning, Inc.		32,552
	569	Electronic Arts, Inc. (D)		33,230
	3,289	Flextronics International Ltd. (D)		39,663
	6,475	General Electric Co.		240,043
	194	Google, Inc. (D)		134,355
	4,223	Intel Corp.		112,577
	646	KLA-Tencor Corp.		31,121
	2,930	Maxim Integrated Products, Inc.		77,576
	1,087	MetroPCS Communications, Inc. (D)(G)		21,134
	2,850	Network Appliance, Inc. (D)		71,131
	673	Qualcomm, Inc.		26,479
	638	SanDisk Corp. (D)		21,159
	2,325	Sprint Nextel Corp.		30,521
	584	Whirlpool Corp. (G)		47,696
	1,053	Yahoo!, Inc. (D)		24,495
				1,332,478
		Transportation — 0.1%
	751	Delta Air Lines, Inc. (D)		11,175
		Utilities — 0.7%
	591	Suntech Power Holdings Co., Ltd. ADR (D)(G)		48,667
		Total common stock (cost $4,727,374)	$	4,792,644

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

­ ­  15  ­ ­

			Market
Shares			Value (W)
PREFERRED STOCK — 0.4%
		Finance — 0.4%
	971	Banco Itau Holding	$	24,818
	153	Federal Home Loan Mortgage Corp.		4,006
		Total preferred stock (cost $25,143)	$	28,824
Principal
Amount
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 5.2%
		Finance — 5.2%
		Asset Securitization Corp.
$	17,200	6.93%, 02/14/2043	$	18,589
		Banc of America Commercial Mortgage, Inc.
	4,590	5.35%, 09/10/2047 (L)		4,570
	15,000	5.45%, 01/15/2049		15,073
		Bear Stearns Commercial Mortgage Securities, Inc.
	9,575	5.30%, 10/12/2042 (L)		9,494
	22,350	5.54%, 09/11/2041 — 10/12/2041		22,694
		Capital Automotive Receivables Asset Trust
	12,600	5.04%, 05/17/2010		12,655
		Citibank Credit Card Issuance Trust
	11,945	5.65%, 09/20/2019		11,957
		Citigroup/Deutsche Bank Commercial Mortgage Trust
	15,000	5.40%, 07/15/2044 (L)		14,956
		Commercial Mortgage Pass-Through Certificates
	15,000	5.12%, 06/10/2044		14,746
		Countrywide Home Loans, Inc.
	3,426	5.26%, 11/25/2035 (L)		3,428
		Credit Suisse Mortgage Capital Certificates
	7,365	5.47%, 09/15/2039		7,423
	10,445	5.61%, 02/15/2039 (L)		10,603
		Ford Credit Automotive Owner Trust
	12,125	5.26%, 10/15/2010		12,179
		Greenwich Capital Commercial Funding Corp.
	10,385	5.22%, 04/10/2037 (L)		10,303
	6,020	5.44%, 03/10/2039 (L)		6,056
		GSR Mortgage Loan Trust
	7,394	5.79%, 05/25/2047 (L)		7,357
		Harley-Davidson Motorcycle Trust
	5,281	2.53%, 11/15/2011		5,207
	12,375	5.21%, 06/17/2013		12,535
		Household Automotive Trust
	9,125	5.28%, 09/17/2011		9,168
		JP Morgan Chase Commercial Mortgage Security Corp.
	6,305	5.34%, 12/15/2044 (L)		6,279
	15,000	5.44%, 06/12/2047 (L)		15,059
	7,755	5.48%, 12/12/2044 (L)		7,845
	6,500	6.07%, 04/15/2045 (L)		6,763
		Marriott Vacation Club Owner Trust
	1,814	5.36%, 10/20/2028 (I)		1,847
		Merrill Automotive Trust Securitization
	12,985	5.43%, 01/15/2010		13,038
		Merrill Lynch Mortgage Trust
	15,000	5.05%, 07/12/2038		14,682
		Morgan Stanley Capital I
	9,580	5.23%, 09/15/2042		9,470
	6,655	5.45%, 02/12/2044 (L)		6,671
		Morgan Stanley Capital Investments
	14,985	5.51%, 11/12/2049 (L)		15,159
		Residential Accredit Loans, Inc.
	9,377	5.25%, 02/25/2035 (L)		9,290
		Sequoia Mortgage Trust
	11,318	5.82%, 02/20/2047 (L)		11,408
		Susquehanna Automotive Lease Trust
	11,219	5.21%, 03/16/2009 (I)		11,220
		USAA Automotive Owner Trust
	12,195	5.36%, 02/15/2011		12,250
		Wachovia Bank Commercial Mortgage Trust
	10,000	5.12%, 07/15/2042		9,828
		Wells Fargo Mortgage Backed Securities Trust
	8,605	4.55%, 03/25/2035 (L)		8,533
	12,097	5.53%, 04/25/2036 (L)		12,170
	5,986	6.03%, 09/25/2036 (L)		6,057
		Total asset & commercial mortgage backed securities (cost $384,259)	$	386,562
CORPORATE BONDS: INVESTMENT GRADE — 15.0%
		Capital Goods — 0.2%
		Pitney Bowes, Inc.
$	4,775	5.75%, 09/15/2017	$	4,827
		Xerox Corp.
	6,000	5.50%, 05/15/2012		6,100
				10,927
		Consumer Cyclical — 1.0%
		DaimlerChrysler NA Holdings Corp.
	5,400	5.88%, 03/15/2011		5,479
	9,550	6.50%, 11/15/2013		9,980
	4,600	8.50%, 01/18/2031		5,802
		Federated Retail Holdings, Inc.
	3,084	5.90%, 12/01/2016		2,904
		Lowe’s Co., Inc.
	6,475	6.65%, 09/15/2037		6,567
		SCL Term Aereo Santiago S.A.
	11,315	6.95%, 07/01/2012 (I)		11,835
		Target Corp.
	14,200	5.88%, 11/01/2008		14,332
		Wal-Mart Stores, Inc.
	15,000	6.88%, 08/10/2009		15,677
				72,576
		Consumer Staples — 1.2%
		Cargill, Inc.
	6,015	5.60%, 09/15/2012 (I)		6,114
		Coca-Cola Enterprises, Inc.
	6,500	6.75%, 09/15/2028		7,171
	500	8.50%, 02/01/2022		627
		Colgate-Palmolive Co.
	13,140	5.58%, 11/06/2008		13,243
		ConAgra Foods, Inc.
	6,537	7.88%, 09/15/2010		7,016
		Diageo Capital plc
	9,825	4.38%, 05/03/2010		9,798

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

­ ­  16  ­ ­

Hartford Advisers HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal			Market
Amount			Value (W)
CORPORATE BONDS: INVESTMENT GRADE — (continued)
		Consumer Staples — (continued)
		Kraft Foods, Inc.
$	12,275	6.25%, 06/01/2012	$	12,752
		PepsiAmericas, Inc.
	13,400	6.38%, 05/01/2009		13,809
		Procter & Gamble Co.
	12,180	9.36%, 01/01/2021		15,522
		Weyerhaeuser Co.
	2,975	7.38%, 03/15/2032		2,986
				89,038
		Energy — 0.2%
		Atmos Energy Corp.
	5,875	6.35%, 06/15/2017		5,965
		Weatherford International Ltd.
	11,000	5.95%, 06/15/2012 (I)		11,420
				17,385
		Finance — 7.7%
		Ace INA Holdings, Inc.
	16,800	5.88%, 06/15/2014		17,206
		American Express Centurion Bank
	12,670	6.00%, 09/13/2017		12,741
		American International Group, Inc.
	1,200	6.25%, 03/15/2037		1,073
		AXA Financial, Inc.
	15,000	7.00%, 04/01/2028		16,606
		Bank of America Corp.
	20,000	5.88%, 02/15/2009		20,287
		Bank of New York Mellon Corp.
	6,345	4.95%, 11/01/2012		6,345
		BB&T Corp.
	4,830	4.90%, 06/30/2017		4,460
		Berkshire Hathaway Finance Corp.
	10,500	4.85%, 01/15/2015		10,516
		Brandywine Operating Partnership
	9,585	6.00%, 04/01/2016		9,183
		Capital One Bank
	3,750	6.50%, 06/13/2013		3,678
		Capital One Capital IV
	4,125	6.75%, 02/17/2037		3,067
		Capital One Financial Corp.
	3,900	5.70%, 09/15/2011		3,768
		Cincinnati Financial Corp.
	10,000	6.92%, 05/15/2028		10,570
		CIT Group, Inc.
	5,995	7.63%, 11/30/2012		6,077
		Citigroup, Inc.
	6,500	3.63%, 02/09/2009		6,413
	8,800	6.00%, 10/31/2033		8,149
	1,000	6.50%, 01/18/2011		1,044
		Credit Suisse First Boston USA, Inc.
	8,920	4.88%, 01/15/2015		8,720
		Developers Diversified Realty Corp.
	7,900	5.38%, 10/15/2012		7,680
		Discover Financial Services, Inc.
	7,220	6.45%, 06/12/2017 (I)		6,952
		Eaton Vance Corp.
	3,180	6.50%, 10/02/2017		3,336
		ERAC USA Finance Co.
	16,355	7.35%, 06/15/2008 (I)		16,495
		Everest Reinsurance Holdings, Inc.
	4,525	5.40%, 10/15/2014		4,580
		General Electric Capital Corp.
	12,000	6.75%, 03/15/2032		13,625
		Genworth Financial, Inc.
	8,000	6.15%, 11/15/2066		7,268
		Goldman Sachs Group, Inc.
	11,000	5.30%, 02/14/2012		11,125
	6,000	5.63%, 01/15/2017		5,859
	8,000	6.45%, 05/01/2036		7,516
		Health Care Property Investors, Inc.
	9,780	6.00%, 01/30/2017		9,210
		HSBC Bank USA
	11,550	3.88%, 09/15/2009		11,442
		HSBC Finance Corp.
	12,500	5.50%, 01/19/2016		12,199
		International Lease Finance Corp.
	10,500	5.00%, 09/15/2012		10,345
	6,350	5.63%, 09/15/2010		6,446
		Jackson National Life Insurance Co.
	12,650	8.15%, 03/15/2027 (I)		15,621
		John Deere Capital Corp.
	8,320	4.88%, 10/15/2010		8,457
		JP Morgan Chase & Co.
	14,375	5.13%, 09/15/2014		14,090
		KeyCorp Capital II
	750	6.88%, 03/17/2029		747
		Kimco Realty Corp.
	7,880	5.78%, 03/15/2016		7,608
		Lehman Brothers Holdings, Inc.
	11,000	5.25%, 02/06/2012		10,884
		Liberty Mutual Group, Inc.
	8,750	5.75%, 03/15/2014 (I)		8,911
		Liberty Property L.P.
	1,325	6.63%, 10/01/2017		1,326
		Merrill Lynch & Co., Inc.
	11,000	5.00%, 02/03/2014		10,493
	6,000	6.40%, 08/28/2017		6,096
		Morgan Stanley
	13,000	5.38%, 10/15/2015		12,638
	6,000	5.45%, 01/09/2017		5,820
		National City Corp.
	4,250	6.88%, 05/15/2019		4,354
		New England Mutual Life Insurance��Co.
	30,000	7.88%, 02/15/2024 (I)		35,302
		Prologis Trust
	6,500	5.63%, 11/15/2016		6,028
		Prudential Financial, Inc.
	11,000	5.50%, 03/15/2016		10,913
	3,500	5.80%, 06/15/2012		3,587
		Realty Income Corp.
	4,830	6.75%, 08/15/2019		4,983
		Regions Bank
	10,000	6.45%, 06/26/2037		9,133
		Republic New York Capital I
	500	7.75%, 11/15/2026		493
		Santander Central Hispano Issuances Ltd.
	1,250	7.63%, 11/03/2009		1,316
		Simon Property Group L.P.
	15,100	6.10%, 05/01/2016		14,924

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

­ ­  17  ­ ­

Principal			Market
Amount			Value (W)
CORPORATE BONDS: INVESTMENT GRADE — (continued)
		Finance — (continued)
		Sovereign Capital Trust IV
$	7,250	7.91%, 06/13/2036	$	7,008
		Torchmark Corp.
	14,600	8.25%, 08/15/2009		15,427
		Toyota Motor Credit Corp.
	9,000	5.50%, 12/15/2008		8,979
		U.S. Bank NA
	21,400	4.95%, 10/30/2014		20,868
		UnitedHealth Group, Inc.
	5,500	4.75%, 02/10/2014		5,305
	2,500	5.50%, 11/15/2012 (I)		2,537
		Wachovia Corp.
	10,000	5.25%, 08/01/2014		9,777
		Wells Fargo Bank NA
	13,000	4.75%, 02/09/2015		12,417
	1,000	6.45%, 02/01/2011		1,058
		Willis North America, Inc.
	2,760	5.63%, 07/15/2015		2,689
	2,910	6.20%, 03/28/2017		2,904
				566,674
		Health Care — 0.6%
		AstraZeneca plc
	6,330	5.40%, 09/15/2012		6,544
		Becton, Dickinson & Co.
	9,000	6.70%, 08/01/2028		9,508
		CVS Corp.
	7,725	6.13%, 08/15/2016		7,929
		Schering-Plough Corp.
	9,000	5.55%, 12/01/2013		9,106
		Wyeth
	8,000	7.25%, 03/01/2023		8,847
				41,934
		Services — 0.6%
		COX Communications, Inc.
	9,000	5.45%, 12/15/2014		8,820
		FedEx Corp.
	15,000	3.50%, 04/01/2009		14,758
		Time Warner, Inc.
	5,530	5.50%, 11/15/2011		5,553
		Viacom, Inc.
	15,020	6.88%, 04/30/2036		15,061
		Wyndham Worldwide Corp.
	3,100	6.00%, 12/01/2016		2,940
				47,132
		Technology — 2.1%
		AT&T, Inc.
	9,510	6.80%, 05/15/2036		10,291
		BellSouth Corp.
	8,960	6.55%, 06/15/2034		9,267
		Bellsouth Telecommunications
	10,000	6.38%, 06/01/2028		10,128
	650	7.00%, 12/01/2095		678
		Comcast Cable Communications, Inc.
	15,000	6.88%, 06/15/2009		15,429
		Deutsche Telekom International Finance B.V.
	8,500	8.25%, 06/15/2030		10,606
		Fiserv, Inc.
	6,400	6.13%, 11/20/2012		6,514
		General Electric Co.
	12,925	5.00%, 02/01/2013		13,089
		Hewlett-Packard Co.
	6,000	5.25%, 03/01/2012		6,146
		Intuit, Inc.
	7,900	5.40%, 03/15/2012		8,024
		SBC Communications
	4,825	6.45%, 06/15/2034		4,973
		Siemens Finance
	14,325	5.75%, 10/17/2016 (I)		14,606
		Sprint Capital Corp.
	3,370	8.75%, 03/15/2032		3,799
		Telecom Italia Capital
	15,000	5.25%, 10/01/2015		14,614
		Time Warner Cable, Inc.
	4,580	5.85%, 05/01/2017		4,591
		Verizon Communications, Inc.
	5,000	5.35%, 02/15/2011		5,122
		Verizon Global Funding Corp.
	500	7.25%, 12/01/2010		536
	14,500	7.75%, 12/01/2030		17,006
				155,419
		Transportation — 0.2%
		Continental Airlines, Inc.
	4,140	5.98%, 04/19/2022		3,869
		Southwest Airlines Co.
	8,700	5.75%, 12/15/2016		8,679
	3,510	6.15%, 08/01/2022		3,524
				16,072
		Utilities — 1.2%
		Consolidated Edison Co. of New York
	4,605	5.30%, 12/01/2016		4,530
		Enel Finance International
	4,045	6.80%, 09/15/2037 (I)		4,064
		Indianapolis Power and Light
	8,000	6.60%, 06/01/2037 (I)		8,416
		Kinder Morgan Energy Partners L.P.
	10,000	6.95%, 01/15/2038		10,495
		MidAmerican Energy Co.
	6,000	5.65%, 07/15/2012		6,218
		MidAmerican Energy Holdings Co.
	7,800	6.13%, 04/01/2036		7,781
		Northern Border Pipeline Co.
	17,285	7.75%, 09/01/2009		18,125
		Northern States Power Co.
	11,750	6.20%, 07/01/2037		12,136
		Southern California Edison Co.
	8,000	5.55%, 01/15/2037		7,547
		Taqa Abu Dhabi National Energy
	3,200	5.62%, 10/25/2012 (I)		3,248
	3,335	5.88%, 10/27/2016 (I)		3,266
		TransCanada Pipelines Ltd.
	750	6.49%, 01/21/2009		760
				86,586
		Total corporate bonds: investment grade (cost $1,090,559)	$	1,103,743

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

­ ­  18  ­ ­

Hartford Advisers HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal			Market
Amount			Value (W)
CORPORATE BONDS: NON-INVESTMENT GRADE — 0.1%
		Services — 0.1%
		Times Mirror Co.
$	10,400	7.50%, 07/01/2023	$	5,969
		Total corporate bonds: non-investment grade (cost $11,122)	$	5,969
MUNICIPAL BONDS — 0.3%
		General Obligations — 0.3%
		Oregon School Boards Association, Taxable Pension
$	10,000	4.76%, 06/30/2028	$	9,198
		State of Illinois, Taxable Pension
	10,000	5.10%, 06/01/2033		9,713
		Total municipal bonds (cost $19,889)	$	18,911
U.S. GOVERNMENT AGENCIES — 4.5%
		Federal Home Loan Mortgage Corporation — 0.7%
		Mortgage Backed Securities:
$	48,731	6.50%, 2035 — 2036	$	50,104
		Remic — Pac’s:
	4,425	2.50%, 2013		4,379
				54,483
		Federal National Mortgage Association — 2.0%
		Mortgage Backed Securities:
	25,830	5.50%, 2036 — 2037		25,802
	119,980	6.00%, 2037		121,853
	116	6.50%, 2036		119
				147,774
		Government National Mortgage Association — 1.2%
		Mortgage Backed Securities:
	61,157	5.50%, 2036 — 2037 (G)		61,602
	8,798	6.00%, 2024 — 2035		9,036
	3,144	6.50%, 2026 — 2035		3,265
	11,479	7.00%, 2031 — 2033		12,152
	1,808	8.00%, 2026 — 2031		1,957
	172	9.00%, 2016 — 2023		186
		Remic — Pac’s:
	107	7.50%, 2035		112
				88,310
		Other Government Agencies — 0.6%
		Small Business Administration Participation Certificates:
	33,917	8.95%, 2022		43,227
		Total U.S. government agencies (cost $324,750)	$	333,794
U.S. GOVERNMENT SECURITIES — 7.8%
		Other Direct Federal Obligations — 2.7%
		Federal Financing Corporation:
$	17,617	4.40%, 2013	$	13,915
		Federal Home Loan Bank:
	61,000	4.88%, 2011 (G)		63,297
		Tennessee Valley Authority:
	64,300	4.38%, 2015		64,384
	50,000	6.00%, 2013		54,356
				118,740
				195,952
		U.S. Treasury Securities — 5.1%
		U.S. Treasury Bonds:
	25,200	5.38%, 2031		28,392
	38,650	6.25%, 2023 (G)		46,274
				74,666
		U.S. Treasury Notes:
	171,300	3.50%, 2010 (G)		172,785
	84,225	3.88%, 2010 (G)		85,936
	13,000	4.50%, 2017 (G)		13,474
	6,425	4.63%, 2016 (G)		6,729
	25,000	4.75%, 2012 (G)		26,385
				305,309
				379,975
		Total U.S. government securities (cost $555,001)	$	575,927
		Total long-term investments (cost $7,138,097)	$	7,246,374
SHORT-TERM INVESTMENTS — 10.6%
		Repurchase Agreements — 0.3%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $5,656, collateralized by FNMA 5.00%, 2035, value of $5,768)
$	5,655	4.50% dated 12/31/2007	$	5,655
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $51, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $52)
	51	1.35% dated 12/31/2007		51
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $15,740, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $16,051)
	15,736	4.75% dated 12/31/2007		15,736
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $2,220, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $2,264)
	2,219	4.60% dated 12/31/2007		2,219
				23,661

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

­ ­  19  ­ ­

					Market
Shares					Value (W)
SHORT-TERM INVESTMENTS — (continued)
		Securities Purchased with Proceeds from Security Lending — 10.3%
		Cash Collateral Reinvestment Fund:
	755,680	Goldman Sachs FS Prime Obligation/Institutional Fund			$	755,680
		Total short-term investments (cost $779,341)			$	779,341
		Total investments (cost $7,917,438) (C)	108.9	%	$	8,025,715
		Other assets and liabilities	(8.9	)%		(654,241	)
		Total net assets	100.0	%	$	7,371,474

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 11.29% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $7,956,971 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	480,851
Unrealized Depreciation		(412,107	)
Net Unrealized Appreciation	$	68,744

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $220,841, which represents 3.00% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $161,854, which represents 2.20% of total net assets.
(L)	Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2007.
(H)	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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.	$	11,253

The aggregate value of these securities at December 31, 2007 was $10,117 which represents 0.14% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Euro (Sell)	$	245,224	$	245,781		03/03/08	$	557
Japanese Yen (Sell)		4,673		4,559		01/07/08		(114	)
Japanese Yen (Sell)		3,681		3,643		01/08/08		(38	)
							$	405

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  20  ­ ­

Hartford Capital Appreciation HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 92.0%
		Basic Materials — 16.3%
	46	Agnico Eagle Mines Ltd.	$	2,513
	133	Agrium, Inc.		9,575
	139	Alcoa, Inc.		5,069
	273	Antofagasta (A)		3,864
	1,033	Aracruz Celulose S.A. ADR (G)		76,824
	43	ArcelorMittal		3,364
	205	Arch Coal, Inc. (G)		9,197
	1,200	BHP Billiton Ltd. ADR (G)		84,048
	5,123	Cameco Corp. (G)		203,951
	54	Celanese Corp.		2,266
	30	CF Industries Holdings, Inc. (G)		3,280
	241	Chemtura Corp.		1,877
	32	Church & Dwight Co., Inc.		1,752
	50	Cleveland-Cliffs, Inc. (G)		5,040
	9,192	Companhia Vale do Rio Doce ADR (G)		300,289
	1,442	Consol Energy, Inc.		103,117
	39	Cytec Industries, Inc.		2,414
	2,440	Dow Chemical Co. (G)		96,182
	79	Evraz Group S.A.		6,088
	26	FMC Corp.		1,435
	53	Foundation Coal Holdings, Inc.		2,782
	2,279	Freeport McMoRan Copper & Gold, Inc.		233,500
	65	Greif, Inc. (G)		4,256
	786	Holcim Ltd. (A)		83,773
	144	Impala Platinum Holdings Ltd. (A)(Q)		4,997
	591	Lihir Gold Ltd. (A)(D)		1,839
	109	Lihir Gold Ltd. ADR		3,393
	26	MMX Mineracao E Metalicos S.A. (D)		13,677
	30	Outotec Oyj (A)(D)		1,622
	86	Owens-Illinois, Inc. (D)		4,272
	531	Paladin Resources Ltd. (A)(D)		3,103
	242	Potash Corp. of Saskatchewan		34,795
	2,924	Praxair, Inc.		259,399
	252	Rexam plc (A)		2,096
	193	Smurfit-Stone Container Corp. (D)(G)		2,040
	50	Steel Dynamics, Inc.		2,990
	1,800	Teck Cominco Ltd. Class B		64,617
	54	Ternium S.A. ADR		2,170
	151	Timminco LTD. (D)		3,367
	95	TMK OAO GDR (I)		4,136
	187	Ube Industries, Ltd. (A)		632
	2,266	United States Steel Corp.		273,946
	169	Uralkali (D)(I)		6,301
	6,034	Uranium One, Inc. (D)		53,982
	122	Uranium Participation Corp. (D)		1,295
	712	USEC, Inc. (D)(G)		6,411
	5,500	Vedanta Resources plc (A)		223,141
	3,345	Xstrata plc (A)		234,748
				2,455,425
		Capital Goods — 4.7%
	32	Alliant Techsystems, Inc. (D)(G)		3,652
	9	Alstom RGPT (A)		1,948
	1,200	Atlas Copco AB (A)		17,836
	2,680	Boeing Co. (G)		234,332
	112	Caterpillar, Inc. (G)		8,105
	32	Chart Industries Inc. (D)		995
	1,070	Cummins, Inc.		136,286
	134	Deere & Co.		12,450
	87	Flowserve Corp.		8,321
	45	Gamesa Corporacion Tecnologica S.A. (A)		2,059
	50	Goodrich Corp.		3,559
	6,464	Hansen Transmissions (D)		37,061
	128	Honeywell International, Inc.		7,850
	1,752	ITT Corp.		115,669
	167	Kennametal, Inc.		6,319
	50	Manitowoc Co., Inc. (G)		2,417
	200	Marvel Entertainment, Inc. (D)(G)		5,355
	121	Northrop Grumman Corp.		9,508
	119	Parker-Hannifin Corp.		8,984
	1,032	Rockwell Automation, Inc.		71,194
	62	Smith International, Inc.		4,593
	51	Spirit Aerosystems Holdings, Inc. (D)		1,756
	180	Trina Solar Ltd. ADR (D)(G)		9,700
				709,949
		Consumer Cyclical — 6.7%
	3	Aker ASA (A)		214
	177	Aker Kvaerner (A)		4,668
	332	Altria Group, Inc.		25,100
	66	American Axle & Manufacturing Holdings, Inc. (G)		1,221
	549	American Eagle Outfitters, Inc.		11,395
	465	Ariba, Inc. (D)(G)		5,189
	6,682	Bosideng International Holdings Ltd. (D)		2,142
	29,056	Buck Holdings L.P. (A)(D)(H)		26,150
	247	Bulgari S.p.A. (A)		3,474
	3,317	China Communications Construction Co., Ltd. (A)		8,575
	978	Chow Sang Sang Holdings (A)		1,681
	145	Circuit City Stores, Inc. (G)		608
	65	Copart, Inc. (D)		2,774
	54	Costco Wholesale Corp.		3,774
	38	Dick’s Sporting Goods, Inc. (D)		1,060
	28,514	Ford Motor Co. (D)(G)		191,899
	102	GameStop Corp. Class A (D)		6,335
	215	Home Depot, Inc.		5,803
	190	Kohl’s Corp. (D)		8,684
	3,671	Limited Brands, Inc. (G)		69,490
	2,876	Liz Claiborne, Inc. (G)		58,527
	3,916	Lowe’s Cos., Inc. (G)		88,594
	4,293	Macy’s, Inc. (G)		111,060
	69	MDC Holdings, Inc.		2,555
	3,444	Newell Rubbermaid, Inc.		89,138
	3	Nintendo Co., Ltd. (A)		1,938
	48	Sotheby’s (G)		1,819
	147	Tata Motors Ltd. ADR (G)		2,774
	486	Tesco plc (A)		4,625
	5,227	TJX Cos., Inc. (G)		150,160
	1,800	Toyota Motor Corp. (A)		95,866
	238	TRW Automotive Holdings Corp. (D)		4,974
	73	UbiSoft Entertainment S.A. (A)(D)		7,440
	11	Under Armour, Inc. Class A (D)(G)		476
				1,000,182
		Consumer Staples — 1.5%
	133	Avon Products, Inc.		5,273
	93	Bunge Ltd. Finance Corp. (G)		10,881
	126	Chaoda Modern Agriculture (A)		113
	1,530	China Resources Enterprise (A)		6,497

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

­ ­  21  ­ ­

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Consumer Staples — (continued)
	3,002	Cosan Ltd. (D)(G)	$	37,818
	3,572	Cosan S.A. Industria E Comercio		41,746
	204	Dean Foods Co.		5,265
	88	Hansen National Corp. (D)		3,880
	253	Imperial Tobacco Group plc (A)		13,678
	52	Lighthouse Caledonia ASA (D)		50
	6,810	Marine Harvest (A)(D)(Q)		4,342
	131	Nestle S.A. (A)		59,979
	288	PepsiCo, Inc.		21,867
	162	Unilever N.V. NY Shares		5,914
				217,303
		Energy — 10.9%
	76	Aegean Marine Petroleum Network		2,929
	103	Apache Corp.		11,034
	338	Brasil EcoDiesel Industria (D)		1,307
	148	Canadian Natural Resources Ltd.		10,869
	2,463	Chesapeake Energy Corp. (G)		96,541
	45	Chevron Corp.		4,228
	40	Cie Gen Geophysique — SP ADR (D)		2,253
	38	ConocoPhillips Holding Co.		3,329
	86	Diamond Offshore Drilling, Inc. (G)		12,226
	87	EOG Resources, Inc.		7,738
	205	Exxon Mobil Corp.		19,225
	3,100	First Resources Ltd. (D)		2,671
	7,293	Halliburton Co. (G)		276,495
	7	Hercules Offshore, Inc. (D)		159
	30	Holly Corp.		1,522
	738	Lundin Petroleum Ab (A)(D)		7,665
	2	Nabors Industries Ltd. (D)		59
	149	Newfield Exploration Co. (D)(G)		7,873
	74	Noble Energy, Inc.		5,900
	2,649	OAO Gazprom ADR		150,212
	1,485	OMV AG (A)		119,845
	74	Penn Virginia Corp. (G)		3,216
	69	Petro-Canada		3,744
	1,349	Petroleo Brasileiro S.A. ADR		155,528
	4,362	Pride International, Inc. (D)(G)		147,862
	141	Seadrill Ltd. (A)(D)		3,401
	117	Sevan Marine ASA (A)(D)		1,753
	220	Talisman Energy, Inc.		4,065
	82	Tesoro Corp.		3,921
	98	Total S.A. ADR		8,078
	844	Transocean, Inc. (G)		120,913
	44	UGI Corp.		1,191
	1,041	Valero Energy Corp. (G)		72,923
	2,389	Weatherford International Ltd. (D)(G)		163,855
	97	Woodside Petroleum — SP		4,275
	4,004	XTO Energy, Inc.		205,638
				1,644,443
		Finance — 17.3%
	4,859	ACE Ltd.		300,183
	224	Aercap Holdings N.V. (D)		4,679
	82	Aetna, Inc.		4,751
	70	Affiliated Managers Group, Inc. (D)(G)		8,246
	17,000	Akbank T.A.S. (A)		125,558
	268	Alternative Asset Management Acquisition Corp. (D)		2,789
	375	AMBAC Financial Group, Inc. (G)		9,656
	4,051	American International Group, Inc.		236,162
	209	Augsburg Re AG (A)(D)(H)		—
	32	Axis Capital Holdings Ltd.		1,242
	1,647	Babcock and Brown Wind Partners (A)		2,442
	110	Banco Bradesco S.A.		3,504
	82	Banco Itau Holding Financeira S.A.		2,120
	498	Bank of America Corp.		20,537
	255,289	Bank of China Ltd. (A)		122,139
	322	Bolsa De Mercadorias e Futuros (D)		4,518
	80	Bovespa Holding S.A. (D)		1,542
	1,968	Capital One Financial Corp. (G)		93,003
	1,921	China Merchants Bank Co., Ltd. (A)		7,729
	1,908	CIT Group, Inc. (G)		45,860
	7,350	Citigroup, Inc. (G)		216,399
	19	CME Group, Inc.		13,171
	771	Countrywide Financial Corp. (G)		6,888
	215	Covanta Holding Corp. (D)		5,950
	615	Deutsche Boerse AG (A)		121,381
	3,990	Discover Financial Services		60,170
	52	Dollar Financial Corp. (D)(G)		1,593
	624	E*Trade Financial Corp. (D)(G)		2,214
	1,935	Eurocastle Investment Ltd. (A)		47,348
	4,400	European Capital Ltd.		44,870
	82	Everest Re Group Ltd.		8,223
	84	Federal Home Loan Mortgage Corp.		2,872
	2,363	Federal National Mortgage Association		94,467
	216	Genesis Lease Ltd.		4,058
	141	GLG Partners, Inc. (D)(G)		1,923
	1,064	Goldman Sachs Group, Inc. (G)		228,727
	278	Invesco Ltd. (G)		8,724
	270	JP Morgan Chase & Co.		11,803
	3,166	Julius Baer Holding Ltd. (A)		259,743
	172	Lehman Brothers Holdings, Inc. (G)		11,256
	485	Mastercard, Inc. (G)		104,458
	379	MBIA, Inc. (G)		7,056
	67	Merrill Lynch & Co., Inc.		3,570
	141	MF Global Ltd. (D)		4,428
	182	MGIC Investment Corp. (G)		4,078
	116	Morgan Stanley		6,150
	129	Oaktree Capital (D)(I)		4,192
	260	PennantPark Investment Corp.		2,604
	61	Platinum Underwriters Holdings Ltd.		2,166
	4	PMI Group, Inc. (G)		56
	106	PNC Financial Services Group, Inc.		6,945
	1,039	Royal Bank of Scotland Group plc (A)		9,171
	13,092	Shun Tak Holdings Ltd. (A)		20,463
	3,136	Standard Chartered plc (A)		114,465
	93	State Street Corp.		7,571
	139	TD Ameritrade Holding Corp. (D)(G)		2,788
	88	Thornburg Mortgage Asset Corp. (G)		811
	366	UBS AG		16,820
	878	UniCredito Italiano S.p.A. (A)		7,225
	284	Washington Mutual, Inc.		3,871
	1,520	Wellpoint, Inc. (D)		133,314
				2,610,642
		Health Care — 8.5%
	129	Abbott Laboratories		7,255
	224	Alkermes, Inc. (D)(G)		3,490
	1,632	Amgen, Inc. (D)		75,804
	240	Amylin Pharmaceuticals, Inc. (D)(G)		8,869

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

­ ­  22  ­ ­

Hartford Capital Appreciation HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Health Care — (continued)
	601	Arena Pharmaceuticals, Inc. (D)(G)	$	4,707
	43	Astellas Pharma, Inc. (A)		1,852
	486	Bristol-Myers Squibb Co.		12,889
	77	Cardinal Health, Inc.		4,458
	84	Charles River Laboratories International, Inc. (D)(G)		5,521
	125	Cie Generale d’Optique Essilor International S.A. (A)(D)		7,979
	159	Cooper Co., Inc. (G)		6,038
	133	Coventry Health Care, Inc. (D)		7,904
	49	Covidien Ltd.		2,170
	3,295	CVS/Caremark Corp. (G)		130,984
	99	Eisai Co., Ltd. (A)		3,886
	1,177	Elan Corp. plc ADR (D)(G)		25,879
	312	Eli Lilly & Co.		16,668
	107	Emergency Medical Services (D)(G)		3,142
	123	Forest Laboratories, Inc. (D)		4,498
	400	Genentech, Inc. (D)		26,815
	69	Genzyme Corp. (D)		5,166
	1,119	Hengan International Group Co., Ltd. (A)		4,974
	315	Impax Laboratories, Inc. (D)(G)		3,496
	245	McKesson Corp.		16,037
	3,500	Medtronic, Inc. (G)		175,945
	310	Merck & Co., Inc.		18,014
	2,276	Novavax, Inc. (D)(G)		7,578
	153	Pharmaceutical Product Development, Inc.		6,185
	739	Sanofi-Aventis S.A. (A)		67,617
	175	Sanofi-Aventis S.A. ADR		7,948
	133	Savient Pharmaceuticals, Inc. (D)		3,048
	9,966	Schering-Plough Corp.		265,487
	416	Shionogi & Co., Ltd. (A)		7,382
	2,505	Teva Pharmaceutical Industries Ltd. ADR (G)		116,437
	101	UCB S.A. (A)		4,590
	93	Vertex Pharmaceuticals, Inc. (D)		2,165
	4,688	Wyeth		207,172
				1,280,049
		Services — 2.9%
	60	Accenture Ltd. Class A		2,147
	9	Allied Waste Industries, Inc. (D)		95
	199	Avis Budget Group, Inc. (D)		2,580
	289	Bare Escentuals, Inc. (D)		7,006
	368	BearingPoint, Inc. (D)(G)		1,041
	99	CACI International, Inc. Class A (D)(G)		4,410
	2,395	Cadence Design Systems, Inc. (D)(G)		40,741
	622	Comcast Corp. Class A (D)(G)		11,350
	604	Comcast Corp. Special Class A (D)(G)		10,943
	231	Corrections Corp. of America (D)		6,829
	475	DreamWorks Animation SKG, Inc. (D)(G)		12,143
	75	Entercom Communications Corp.		1,032
	1,511	Focus Media Holding Ltd. ADR (D)(G)		85,811
	133	Giant Interactive Group, Inc. (D)(G)		1,729
	30	Harvey Weinstein Master L.P. (A)(D)(H)		26,234
	135	Iron Mountain, Inc. (D)(G)		4,979
	22	ITT Educational Services, Inc. (D)		1,901
	33	Jacobs Engineering Group, Inc. (D)		3,184
	697	JumpTV, Inc. (D)		1,595
	322	Live Nation, Inc. (D)(G)		4,675
	96	Manpower, Inc. (G)		5,445
	25	McGraw-Hill Cos., Inc.		1,100
	124	Monster Worldwide, Inc. (D)(G)		4,018
	4,500	News Corp. Class A		92,205
	149	Perfect World Co., Ltd. ADR (D)		4,151
	116	R.H. Donnelley Corp. (D)(G)		4,239
	6,512	Shangri-La Asia Ltd. (A)		20,254
	2,844	Sun Microsystems, Inc. (D)(G)		51,567
	91	United Parcel Service, Inc. Class B		6,414
	500	Walt Disney Co.		16,140
	235	XM Satellite Radio Holdings, Inc. Class A (D)(G)		2,881
				438,839
		Technology — 21.4%
	2,337	Altera Corp. (G)		45,153
	3,054	Amdocs Ltd. (D)		105,254
	42	Apple, Inc. (D)(G)		8,339
	11,756	Applied Materials, Inc. (G)		208,781
	42	Arris Group, Inc. (D)(G)		414
	107	Arrow Electronics, Inc. (D)		4,215
	174	ASML Holding N.V. (A)		5,509
	5	ASML Holding N.V. ADR		163
	3,094	AT&T, Inc. #		128,598
	234	BEA Systems, Inc. (D)		3,693
	145	BMC Software, Inc. (D)		5,179
	40	Brasil Telecom S.A. ADR (G)		1,211
	90	Broadcom Corp. Class A (D)		2,353
	105	Canon, Inc. (A)(Q)		4,796
	7,103	Cisco Systems, Inc. (D)		192,294
	6	Clearwire Corp. (D)(G)		80
	663	CMGI, Inc. (D)(G)		8,679
	794	Cognex Corp. (G)		15,999
	451	Corning, Inc.		10,814
	31	Ctrip.com International Ltd.		1,787
	84	Danaher Corp. (G)		7,353
	340	EMC Corp. (D)		6,293
	151	Emerson Electric Co.		8,533
	170	Emulex Corp. (D)		2,766
	531	Energy Focus, Inc. (D)		3,846
	82	Equinix, Inc. (D)(G)		8,318
	522	Evergreen Solar, Inc. (D)(G)		9,008
	148	Fairchild Semiconductor International, Inc. (D)(G)		2,133
	863	Flextronics International Ltd. (D)		10,410
	120	FLIR Systems, Inc. (D)		3,756
	6,475	General Electric Co. (G)		239,997
	542	Google, Inc. (D)		374,647
	4,828	Hewlett-Packard Co.		243,734
	134	Hologic, Inc. (D)(G)		9,163
	19,743	Hon Hai Precision Industry Co., Ltd. (A)		121,686
	2,787	Intel Corp.		74,291
	2,488	International Business Machines Corp. (G)		268,856
	—	International Rectifier Corp. (D)(G)		14
	78	JA Solar Holdings Co., Ltd. ADR (D)		5,459
	379	JDS Uniphase Corp. (D)(G)		5,039
	177	Koninklijke Philips Electronics N.V. (A)		7,580
	236	LAM Research Corp. (D)(G)		10,198
	70	LDK Solar Co., Ltd (D)		3,277
	125	Leap Wireless International, Inc. (D)(G)		5,849
	44	Logitech International S.A. (A)(D)		1,610

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

­ ­  23  ­ ­

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Technology — (continued)
	257	Maxim Integrated Products, Inc.	$	6,805
	2,634	McAfee, Inc. (D)		98,790
	1,542	Megacable Holdings — CPO (D)		5,237
	96	MEMC Electronic Materials, Inc. (D)		8,486
	476	MetroPCS Communications, Inc. (D)(G)		9,256
	1,940	Microsoft Corp. (G)		69,060
	363	Mitsubishi Electric Corp. (A)		3,760
	5,725	MTN Group Ltd. (A)		107,230
	260	Network Appliance, Inc. (D)		6,497
	24	Nokia Corp.		914
	343	Nokia Oyj (A)		13,160
	1,242	Nortel Networks Corp. (D)(G)		18,740
	44	NVIDIA Corp. (D)(G)		1,495
	207	O2Micro International Ltd. ADR (D)		2,387
	11,632	Oracle Corp. (D)(G)		262,653
	1,224	Orascom Telecom Holding SAE GDR		101,609
	4,061	Qualcomm, Inc.		159,796
	1,116	Raytheon Co. (G)		67,753
	28	Red Hat, Inc. (D)(G)		575
	27	Research In Motion Ltd. (D)		3,028
	123	Rockwell Collins, Inc.		8,845
	46	Roper Industries, Inc.		2,877
	77	SanDisk Corp. (D)		2,557
	242	SAVVIS, Inc. (D)(G)		6,746
	74	Shanda Interactive Entertainment Ltd. (D)		2,474
	75	Solar Cayman Ltd. (A)(D)(H)		1,029
	188	Sonus Networks, Inc. (D)(G)		1,094
	160	Sprint Nextel Corp. (G)		2,094
	37	Starent Networks Corp. (D)		677
	229	Symantec Corp. (D)(G)		3,698
	446	Telecity Group plc (D)		2,663
	1,721	Telefonaktiebolaget LM Ericsson (A)		4,028
	211	Telefonaktiebolaget LM Ericsson ADR		4,929
	70	Telefonica S.A. ADR		6,870
	151	Thomas & Betts Corp. (D)(G)		7,385
	165	THQ, Inc. (D)(G)		4,653
	100	Turkcell Iletisim Hizmetleri ADR		2,765
	132	VeriSign, Inc. (D)(G)		4,950
	147	Virgin Media, Inc.		2,520
	207	Vodafone Group plc ADR (G)		7,707
	39	Whirlpool Corp. (G)		3,175
				3,218,094
		Transportation — 0.9%
	561	All America Latina Logistica S.A.		7,255
	972	Burlington Northern Santa Fe Corp. (G)		80,883
	350	Delta Air Lines, Inc. (D)(G)		5,213
	65	Frontline Ltd. (A)		3,104
	45	Frontline Ltd. ADR		2,160
	78	General Dynamics Corp.		6,977
	176	Grupo Aeroportuario Del ADR		4,426
	62	Kirby Corp. (D)		2,900
	935	Northwest Airlines Corp. (D)		13,567
	55	UAL Corp. (D)(G)		1,965
	334	US Airways Group, Inc. (D)		4,913
				133,363
		Utilities — 0.9%
	199	American Electric Power Co., Inc.		9,245
	246	Exelon Corp.		20,051
	10,135	Iberdrola Renovables (D)		83,716
	71	Sunpower Corp. (D)(G)		9,206
	214	Suntech Power Holdings Co., Ltd. ADR (D)(G)		17,647
				139,865
		Total common stock (cost $12,157,698)	$	13,848,154
WARRANTS — 1.1%
		Basic Materials — 0.5%
	3,053	TATA Steel Ltd. (H)(Q)	$	72,465
		Utilities — 0.6%
	2,031	Suzlon Energy, Ltd. (D)(H)		99,781
		Total warrants (cost $147,056)	$	172,246
EXCHANGE TRADED FUNDS — 1.7%
		Finance — 1.7%
	2,407	Powershares QQQ	$	123,335
	846	S & P 500 Depositary Receipt		123,752
	41	S & P Mid-Cap 400 Depositary Receipts (G)		6,359
		Total exchange traded funds (cost $257,599)	$	253,446
PREFERRED STOCK — 0.0%
		Finance — 0.0%
	87	Thornburg Mortgage, Inc. (X)	$	2,084
		Total preferred stock (cost $2,174)	$	2,084
Principal
Amount (B)
CORPORATE BONDS: INVESTMENT GRADE — 0.2%
		Finance — 0.2%
		Augsburg Re AG
GBP	412	0.00%, 12/31/2049 (A)(H)(X)		135
		UBS Luxembourg S.A.
$	26,500	6.23%, 02/11/2015		26,261
		Total corporate bonds: investment grade (cost $27,552)	$	26,396
		Total long-term investments (cost $12,592,079)	$	14,302,326
SHORT-TERM INVESTMENTS — 12.7%
		Repurchase Agreements — 5.0%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $178,686, collateralized by FNMA 5.00%, 2035, value of $182,213)
$	178,640	4.50% dated 12/31/2007	$	178,640

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

­ ­  24  ­ ­

Hartford Capital Appreciation HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal					Market
Amount					Value (W)
SHORT-TERM INVESTMENTS — (continued)
		Repurchase Agreements — (continued)
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,610, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $1,643)
$	1,609	1.35% dated 12/31/2007			$	1,609
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $497,263, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $507,077)
	497,134	4.75% dated 12/31/2007				497,134
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $70,132, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $71,516)
	70,114	4.60% dated 12/31/2007				70,114
						747,497
Shares
		Securities Purchased with Proceeds from Security Lending — 7.7%
		Cash Collateral Reinvestment Fund:
	1,166,436	Mellon GSL DBT II Collateral Fund (H)				1,166,436
		Total short-term investments (cost $1,913,933)			$	1,913,933
		Total investments (cost $14,506,012) (C)	107.7	%	$	16,216,259
		Other assets and liabilities	(7.7	)%		(1,158,520	)
		Total net assets	100.0	%	$	15,057,739

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 28.63% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $14,549,642 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	2,443,056
Unrealized Depreciation		(776,439	)
Net Unrealized Appreciation	$	1,666,617

#	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $2,209,621, which represents 14.67% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $14,629, which represents 0.10% of total net assets.
(Q)	The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2007 was $4,431.
(X)	Convertible security.
(B)	All principal amounts are in U.S. dollars unless otherwise indicated.

GBP — British Pound

(H) The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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
06/2006		412	Augsburg Re AG, 0.00%, 12/31/2049 - 144A	$	766
06/2006		209	Augsburg Re AG - 144A		67
06/2007		29,056	Buck Holdings L.P.		29,086
10/2005		30	Harvey Weinstein Master L.P. - Reg D		27,951
12/2006 – 12/2007		1,166,436	Mellon GSL DBT II Collateral Fund		1,166,436
03/2007		75	Solar Cayman Ltd.		1,121
12/2007		2,031	Suzlon Energy Acc - 144A		99,719
06/2006		3,053	TATA Steel Ltd. - 144A		47,337

The aggregate value of these securities at December 31, 2007 was $1,392,230 which represents 9.25% of total net assets.

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

­ ­  25  ­ ­

Forward Foreign Currency Contracts Outstanding at December 31, 2007

								Unrealized
	Market			Contract		Delivery		Appreciation/
Description	Value (W)			Amount		Date		(Depreciation)
Australian Dollar (Buy)	$	38		$	38		01/02/08	$	—
British Pound (Buy)		268			269		01/02/08		(1	)
British Pound (Buy)		263			263		01/03/08		—
British Pound (Sell)		7,328			7,372		01/04/08		44
Canadian Dollar (Buy)		86			87		01/02/08		(1	)
Canadian Dollar (Sell)		999			1,006		01/02/08		7
Canadian Dollar (Sell)		656			660		01/03/08		4
Euro (Buy)		938			921		01/02/08		17
Euro (Buy)		3,707			3,709		01/02/08		(2	)
Euro (Sell)		35,637			35,651		01/02/08		14
Euro (Buy)		804			804		01/03/08		—
Euro (Sell)		14,311			14,396		01/03/08		85
Euro (Sell)		727,640			718,618		12/19/08		(9,022	)
Hong Kong Dollar (Buy)		313			313		01/02/08		—
Hong Kong Dollar (Buy)		38			38		01/03/08		—
Japanese Yen (Buy)		70			68		01/07/08		2
Japanese Yen (Sell)		1,566			1,550		01/08/08		(16	)
Norwegian Krone (Buy)		70	��		68		01/02/08		2
Norwegian Krone (Buy)		2,018			2,011		01/03/08		7
Norwegian Krone (Buy)		1,435			1,440		01/04/08		(5	)
Singapore Dollar (Buy)		480			476		01/02/08		4
South African Rand (Buy)		40			40		01/04/08		—
South African Rand (Sell)		9,431			9,384		01/04/08		(47	)
South African Rand (Sell)		54,431			54,485		01/07/08		54
Swedish Krona (Buy)		31			31		01/03/08		—
Swiss Franc (Buy)		209			208		01/03/08		1
Turkish New Lira (Sell)		6,725			6,713		01/02/08		(12	)
								$	(8,865	)

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Australia		0.6	%
Austria		0.8
Belgium		0.3
Brazil		4.3
Canada		2.8
China		1.8
Egypt		0.7
Finland		0.1
France		0.7
Germany		1.1
Hong Kong		0.4
India		0.6
Ireland		0.2
Israel		0.8
Italy		0.1
Japan		0.8
Luxembourg		0.8
Mexico		0.1
Netherlands		0.1
Norway		0.1
Russia		1.1
South Africa		0.7
Spain		0.6
Sweden		0.2
Switzerland		2.8
Taiwan		0.8
Turkey		0.8
United Kingdom		4.4
United States		66.4
Short-Term Investments		12.7
Other Assets and Liabilities		(7.7	)
Total		100.0	%

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

­ ­  26  ­ ­

Hartford Dividend and Growth HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 98.9%
		Basic Materials — 7.9%
	236	AbitibiBowater, Inc. (G)	$	4,862
	1,315	Agrium, Inc.		94,934
	1,429	Alcoa, Inc.		52,223
	694	Companhia Vale do Rio Doce ADR (G)		22,669
	2,393	E.I. DuPont de Nemours & Co.		105,504
	1,955	International Paper Co.		63,316
	702	Kimberly-Clark Corp.		48,684
	948	Newmont Mining Corp.		46,300
	1,157	Pentair, Inc.		40,258
	769	Rhodia S.A. (D)(G)		29,121
	1,317	Rohm & Haas Co.		69,867
				577,738
		Capital Goods — 4.3%
	596	3M Co.		50,263
	164	Caterpillar, Inc.		11,878
	1,518	Deere & Co.		141,375
	512	Illinois Tool Works, Inc.		27,429
	1,141	Spirit Aerosystems Holdings, Inc. (D)		39,347
	2,778	Xerox Corp.		44,971
				315,263
		Consumer Cyclical — 7.9%
	1,325	Altria Group, Inc.		100,106
	852	Avery Dennison Corp.		45,249
	800	Home Depot, Inc.		21,547
	1,831	Honda Motor Co., Ltd. ADR		60,686
	982	Masco Corp.		21,219
	1,287	McDonald’s Corp.		75,793
	2,282	Staples, Inc.		52,650
	2,152	Sysco Corp.		67,161
	2,927	Wal-Mart Stores, Inc.		139,134
				583,545
		Consumer Staples — 6.3%
	367	Bunge Ltd. Finance Corp. (G)		42,722
	532	Coca-Cola Co.		32,618
	788	Nestle S.A. ADR		90,215
	1,484	PepsiCo, Inc.		112,598
	1,908	Procter & Gamble Co.		140,101
	1,312	Tyson Foods, Inc. Class A		20,116
	595	Unilever N.V.		21,697
				460,067
		Energy — 18.4%
	1,401	Anadarko Petroleum Corp.		92,038
	3,050	Chevron Corp.		284,666
	1,589	ConocoPhillips Holding Co.		140,326
	1,612	EnCana Corp.		109,529
	3,002	Exxon Mobil Corp.		281,282
	912	Royal Dutch Shell plc		76,765
	680	Schlumberger Ltd.		66,901
	2,428	Total S.A. ADR (G)		200,512
	1,879	XTO Energy, Inc.		96,493
				1,348,512
		Finance — 14.5%
	1,143	ACE Ltd.		70,584
	1,446	Allstate Corp.		75,509
	1,647	American International Group, Inc.		96,003
	3,363	Bank of America Corp.		138,761
	935	Capital One Financial Corp.		44,193
	2,407	Citigroup, Inc.		70,858
	583	Federal Home Loan Mortgage Corp.		19,853
	1,219	ING Groep N.V. ADR		47,447
	514	Lincoln National Corp.		29,896
	970	MBIA, Inc. (G)		18,078
	581	Merrill Lynch & Co., Inc.		31,161
	655	Morgan Stanley		34,776
	555	PNC Financial Services Group, Inc.		36,455
	452	Prudential Financial, Inc.		42,008
	1,119	State Street Corp.		90,863
	603	SunTrust Banks, Inc.		37,675
	1,163	Synovus Financial Corp.		28,010
	2,066	UBS AG		95,031
	1,571	Wachovia Corp.		59,737
				1,066,898
		Health Care — 11.3%
	2,379	Abbott Laboratories		133,558
	1,038	AstraZeneca plc ADR		44,426
	2,729	Bristol-Myers Squibb Co.		72,376
	2,859	Eli Lilly & Co.		152,642
	2,158	Medtronic, Inc.		108,498
	1,465	Sanofi-Aventis S.A. ADR		66,688
	4,674	Schering-Plough Corp.		124,518
	831	Teva Pharmaceutical Industries Ltd. ADR		38,611
	407	Walgreen Co.		15,502
	1,705	Wyeth		75,326
				832,145
		Services — 6.7%
	1,551	Accenture Ltd. Class A		55,875
	1,265	Automatic Data Processing, Inc.		56,344
	2,865	Comcast Corp. Class A (D)		52,313
	1,455	Comcast Corp. Special Class A (D)		26,368
	1,394	New York Times Co. Class A (G)		24,433
	2,926	Time Warner, Inc.		48,315
	922	United Parcel Service, Inc. Class B		65,211
	1,283	Viacom, Inc. Class B (D)		56,330
	896	Walt Disney Co.		28,910
	2,299	Waste Management, Inc.		75,098
				489,197
		Technology — 14.9%
	3,174	Applied Materials, Inc.		56,367
	1,573	ASML Holding N.V. (G)		49,232
	7,807	AT&T, Inc.		324,441
	5,032	General Electric Co.		186,524
	1,593	International Business Machines Corp.		172,236
	660	Lockheed Martin Corp.		69,493
	2,139	Maxim Integrated Products, Inc.		56,635
	1,815	Microsoft Corp.		64,610
	842	Qualcomm, Inc.		33,133
	1,899	Verizon Communications, Inc.		82,952
				1,095,623
		Transportation — 1.0%
	747	Royal Caribbean Cruises Ltd. (G)		31,694
	3,313	Southwest Airlines Co.		40,416
				72,110

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

­ ­  27  ­ ­

					Market
Shares					Value (W)
COMMON STOCK — (continued)
		Utilities — 5.7%
	2,069	Dominion Resources, Inc.			$	98,155
	1,719	Exelon Corp.				140,366
	1,664	FPL Group, Inc.				112,766
	538	Progress Energy, Inc.				26,031
	448	Veolia Environment ADR				40,768
						418,086
		Total common stock (cost $5,886,454)			$	7,259,184
Principal
Amount
SHORT-TERM INVESTMENTS — 3.1%
		Repurchase Agreements — 1.0%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $17,754, collateralized by FNMA 5.00%, 2035, value of $18,105)
$	17,750	4.50% dated 12/31/2007			$	17,750
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $160, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $163)
	160	1.35% dated 12/31/2007				160
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $49,409, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $50,384)
	49,396	4.75% dated 12/31/2007				49,396
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $6,968, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $7,106)
	6,966	4.60% dated 12/31/2007				6,966
						74,272
Shares
		Securities Purchased with Proceeds from Security Lending — 2.1%
		Cash Collateral Reinvestment Fund:
	154,323	Goldman Sachs FS Prime Obligation/Institutional Fund				154,323
		Total short-term investments (cost $228,595)			$	228,595
		Total investments (cost $6,115,049) (C)	102.0	%	$	7,487,779
		Other assets and liabilities	(2.0	)%		(143,628	)
		Total net assets	100.0	%	$	7,344,151

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 14.82% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $6,122,502 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	1,608,226
Unrealized Depreciation		(242,949	)
Net Unrealized Appreciation	$	1,365,277

(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  28  ­ ­

Hartford International Opportunities HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 99.1%
		Australia — 0.1%
	585	Paladin Resources Ltd. (A)(D)(G)	$	3,420
		Austria — 1.2%
	363	OMV AG (A) #		29,341
		Belgium — 0.3%
	170	UCB S.A. (A)(G)		7,739
		Brazil — 5.4%
	2,251	All America Latina Logistica S.A.		29,131
	392	Banco Bradesco S.A.		12,554
	1,414	Bolsa De Mercadorias e Futuros (D)		19,864
	69	MMX Mineracao E Metalicos S.A. (D)		36,649
	297	Petroleo Brasileiro S.A. ADR		34,192
				132,390
		Canada — 3.8%
	569	Canadian Natural Resources Ltd.		41,837
	332	EnCana Corp.		22,686
	112	Research In Motion Ltd. (D)		12,751
	304	Telus Corp.		15,203
				92,477
		China — 3.9%
	36,957	Bank of China Ltd. (A)(G)		17,681
	13,599	China Communications Construction Co., Ltd. (A)(G)		35,157
	7,513	China Merchants Bank Co., Ltd. (A)(G)		30,225
	4,716	Shanghai Electric Group Co., Ltd. (A)		3,896
	848	WSP Holdings Ltd. (D)(G)		7,714
				94,673
		Egypt — 1.4%
	419	Orascom Telecom Holding SAE GDR (G)		34,760
		Finland — 2.7%
	1,732	Nokia Oyj (A)		66,525
		France — 8.2%
	41	Alstom RGPT (A)(G)		8,719
	839	Axa S.A. (A)(G)		33,454
	203	BNP Paribas (A)(G)		21,975
	236	Bouygues S.A. (A)(G)		19,626
	421	Cie Generale d’Optique Essilor International S.A. (A)(D)(G)		26,835
	1,158	France Telecom S.A. (A)(G)		41,536
	706	Safran S.A. (A)(G)		14,475
	371	Sanofi-Aventis S.A. (A)		33,949
				200,569
		Germany — 11.2%
	203	Continental AG (A)(G)		26,602
	471	Daimler AG (A)(G)		45,680
	175	Deutsche Boerse AG (A)(G)		34,507
	278	Deutsche Postbank AG (A)(G)		24,699
	340	E.On AG (A)(G)		72,345
	49	K + S AG (A)(G)		11,685
	359	Siemens AG (A)(G)		57,151
				272,669
		Hong Kong — 3.1%
	6,048	China Resources Enterprise (A)(G)		25,684
	4,406	Hengan International Group Co., Ltd. (A)(G)		19,584
	10,232	Shangri-La Asia Ltd. (A)(G)		31,822
				77,090
		India — 2.0%
	247	Bharat Heavy Electricals (A)		16,064
	632	Bharti Televentures (A)(D)		15,807
	127	HDFC Bank Ltd. ADR (G)		16,515
				48,386
		Ireland — 1.9%
	793	Elan Corp. plc ADR (D)(G)		17,421
	1,025	Ryanair Holdings plc (A)(D)		6,950
	539	Ryanair Holdings plc ADR (D)(G)		21,250
				45,621
		Italy — 3.5%
	1,044	Bulgari S.p.A. (A)(G)		14,656
	2,017	Enel S.p.A. (A)		23,979
	5,829	UniCredito Italiano S.p.A. (A)(G)(Q)		47,950
				86,585
		Japan — 10.2%
	259	Astellas Pharma, Inc. (A)		11,237
	466	Canon, Inc. (A)(G)		21,345
	339	Daiichi Sankyo Co., Ltd. (A)		10,431
	266	Eisai Co., Ltd. (A)		10,407
	765	Honda Motor Co., Ltd. (A)(G)		25,255
	12	Japan Tobacco, Inc. (A)(G)		72,337
	297	Mitsubishi Corp. (A)		8,038
	1,545	Mitsubishi Electric Corp. (A)		16,002
	544	Mitsubishi Estate Co., Ltd. (A)		12,961
	1,371	Mitsubishi UFJ Financial Group, Inc. (A)		12,925
	366	Mitsui & Co., Ltd. (A)		7,643
	19	Rakuten, Inc. (A)(G)		9,521
	285	Sony Corp. (A)		15,522
	2,120	Toshiba Corp. (A)(G)		15,645
				249,269
		Luxembourg — 0.9%
	271	Evraz Group S.A.		21,010
		Mexico — 0.8%
	737	Grupo Aeroportuario Del ADR (G)		18,508
		Netherlands — 5.9%
	1,178	Aercap Holdings N.V. (D)(G)		24,583
	1,146	ASML Holding N.V. (A)		36,171
	841	Koninklijke Philips Electronics N.V. (A)		36,030
	1,262	Unilever N.V. CVA (A)		46,383
				143,167
		Norway — 2.8%
	733	Aker Kvaerner (A)		19,358
	438	Petroleum Geo-Services (A)(G)		12,610
	1,567	Telenor ASA (A)		37,186
				69,154
		Papua New Guinea — 0.5%
	4,035	Lihir Gold Ltd. (A)(D)		12,553

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

­ ­  29  ­ ­

						Market
Shares						Value (W)
COMMON STOCK — (continued)
			Russia — 4.1%
	841		OAO Gazprom ADR (G)			$	47,662
	509		TMK OAO GDR (I)				22,095
	810		Uralkali (D)(I)				30,160
							99,917
			South Africa — 1.5%
	508	��	Impala Platinum Holdings Ltd. (A)				17,636
	1,017		MTN Group Ltd. (A)				19,054
							36,690
			Spain — 2.2%
	1,563		Banco Santander Central Hispano S.A. (A)(Q)				33,757
	2,307		Iberdrola Renovables (D)(Q)				19,058
							52,815
			Sweden — 1.3%
	617		Assa Abloy Ab (A)(G)				12,381
	8,440		Telefonaktiebolaget LM Ericsson (A)				19,754
							32,135
			Switzerland — 5.8%
	707		Julius Baer Holding Ltd. (A)				58,050
	143		Nestle S.A. (A)				65,819
	401		UBS AG (A)				18,471
							142,340
			Turkey — 0.4%
	393		Turkcell Iletisim Hizmetleri ADR (G)				10,838
			United Kingdom — 10.8%
	276		AstraZeneca plc (A)				11,859
	382		Johnson Matthey plc (A)				14,253
	2,115		Man Group plc (A)				24,010
	618		Reckitt Benckiser Group plc (A)				35,885
	252		Rio Tinto plc (A)				26,525
	745		Standard Chartered plc (A)				27,194
	3,489		Tesco plc (A)				33,193
	1,293		Xstrata plc (A)				90,758
							263,677
			United States — 3.2%
	217		Frontline Ltd. (G)				10,426
	1,598		Invesco Ltd.				50,144
	65		Lihir Gold Ltd. ADR (G)				2,033
	133		Synthes, Inc. (A)				16,575
							79,178
			Total common stock (cost $2,055,774)			$	2,423,496
Principal
Amount
SHORT-TERM INVESTMENTS — 14.3%
			Repurchase Agreements — 0.7%
			Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $4,250, collateralized by FNMA 5.00%, 2035, value of $4,334)
$	4,249		4.50% dated 12/31/2007			$	4,249
			Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $38, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $39)
	38		1.35% dated 12/31/2007				38
			Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $11,828, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $12,061)
	11,825		4.75% dated 12/31/2007				11,825
			JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,668, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $1,701)
	1,668		4.60% dated 12/31/2007				1,668
							17,780
Shares
			Securities Purchased with Proceeds from Security Lending — 13.6%
			Cash Collateral Reinvestment Fund:
	330,735		Navigator Prime Portfolio				330,735
Principal
Amount
			Federal Home Loan Mortgage Corporation Collateral Securities:
			FHLMC
$	—		6.01%, 04/11/2017				—
			Federal National Mortgage Association Collateral Securities:
			FNMA
	14		3.75%, 07/25/2008				14
	—		5.00%, 10/15/2011 — 02/16/2012				1
	—		5.20%, 09/18/2012				—
	—		5.50%, 01/23/2012				—
							15
			U.S. Treasury Collateral Securities:
			U.S. Treasury Bond
	—		2.38%, 01/15/2027 (O)				—
							330,750
			Total short-term investments (cost $348,530)			$	348,530
			Total investments (cost $2,404,304) (C)	113.4	%	$	2,772,026
			Other assets and liabilities	(13.4	)%		(327,804	)
			Total net assets	100.0	%	$	2,444,222

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

­ ­  30  ­ ­

Hartford International Opportunities HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

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 95.91% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $2,406,841 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	404,538
Unrealized Depreciation		(39,353	)
Net Unrealized Appreciation	$	365,185

#	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $1,844,452, which represents 75.46% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $52,255, which represents 2.14% of total net assets.
(O)	U.S. Treasury inflation-protected securities (TIPS) are securities in which the principal amount is adjusted for inflation and the semiannual interest payments equal a fixed percentage of the inflation-adjusted principal amount.
(Q)	The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2007 was $4,976.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Euro (Buy)	$	253	$	248		01/02/08	$	5
Euro (Sell)		2,277		2,278		01/02/08		1
Euro (Buy)		6,072		6,076		01/03/08		(4	)
Hong Kong Dollar (Buy)		4,076		4,075		01/02/08		1
Hong Kong Dollar (Buy)		2,248		2,248		01/03/08		—
Japanese Yen (Sell)		14,096		13,802		01/04/08		(294	)
Swedish Krona (Sell)		1,224		1,222		01/03/08		(2	)
Swiss Franc (Buy)		1,293		1,287		01/03/08		6
							$	(287	)

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		12.3	%
Capital Goods		1.8
Consumer Cyclical		8.8
Consumer Staples		10.1
Energy		8.0
Finance		21.3
Health Care		6.8
Services		2.1
Technology		19.7
Transportation		3.5
Utilities		4.7
Short-Term Investments		14.3
Other Assets and Liabilities		(13.4	)
Total		100.0	%

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

­ ­  31  ­ ­

Hartford Money Market HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

Principal			Market
Amount			Value (W)
		Capital Goods — 1.9%
		Caterpillar, Inc.
$	52,000	4.20%, 01/10/2008	$	51,947
		Consumer Cyclical — 2.6%
		Eksportfinians
	27,500	4.31%, 01/14/2008 (I)		27,457
	42,700	4.71%, 04/03/2008 (I)		42,187
				69,644
		Consumer Staples — 4.7%
		KFW International Holdings
	26,250	4.28%, 01/15/2008 (I)		26,206
	27,700	4.31%, 01/17/2008 (I)		27,649
	31,600	4.41%, 02/05/2008 (I)		31,465
		Unilever Capital Corp.
	18,000	4.23%, 01/11/2008 (I)		17,979
	22,000	5.22%, 08/11/2008 (I)(L)		22,000
				125,299
		Energy — 3.0%
		ConocoPhillips Qatar Funding
	12,000	4.55%, 01/08/2008 (I)		11,989
	22,000	4.58%, 02/21/2008 (I)		21,858
	16,900	4.66%, 01/08/2008 (I)(L)		16,885
	7,500	4.82%, 01/23/2008 (I)		7,478
	20,600	4.98%, 01/23/2008 (I)		20,538
				78,748
		Finance — 83.3%
		American Express Credit Corp.
	9,102	3.50%, 01/02/2008		9,101
	34,050	4.33%, 01/16/2008		33,989
		American General Finance Corp.
	27,000	5.03%, 01/04/2008		26,989
	13,200	5.33%, 01/18/2008 (L)		13,201
		American Honda Finance Corp.
	13,500	4.26%, 01/15/2008		13,478
	26,300	4.85%, 05/12/2008 (I)(L)		26,300
	9,500	4.87%, 08/06/2008 (I)(L)		9,494
	21,300	5.17%, 09/18/2008 (I)(L)		21,300
		Australia & New Zealand Banking GR
	30,000	4.82%, 03/20/2008 (I)		29,689
	31,750	5.00%, 01/11/2008 (I)		31,706
	15,000	5.16%, 01/07/2008		14,987
		Bank of America Corp.
	57,200	4.65%, 02/28/2008 — 04/11/2008		56,632
	18,750	5.04%, 01/22/2008		18,695
		Bank of Scotland
	15,000	4.76%, 01/22/2008		14,958
	9,250	5.02%, 01/24/2008		9,220
	22,000	5.05%, 01/23/2008		21,933
		Bear Stearns & Co., Inc.
	19,000	5.02%, 01/28/2008		18,929
	22,000	5.09%, 08/14/2008 (L)		22,000
		Citibank NA
	12,750	5.11%, 03/07/2008		12,750
	27,350	5.14%, 03/04/2008		27,350
		Citigroup Funding, Inc.
	27,300	4.98%, 05/01/2008		26,850
		Danske Bank Corp.
	22,000	4.92%, 08/19/2008 (I)(L)		22,000
	21,500	4.94%, 03/10/2008		21,299
		Danske Bank Corp.
	31,000	5.37%, 02/11/2008		30,811
		Federal Home Loan Bank
	81,900	4.24%, 01/04/2008 — 01/11/2008		81,849
	54,000	4.27%, 01/11/2008		53,936
	28,250	4.31%, 01/30/2008		28,152
		Federal Home Loan Mortgage Corp.
	45,790	4.24%, 01/02/2008		45,785
	61,000	4.28%, 01/10/2008		60,940
		Federal National Mortgage Association
	34,000	4.20%, 01/09/2008		33,968
	25,800	4.26%, 01/22/2008		25,736
	25,014	4.27%, 02/01/2008		24,922
	20,289	4.30%, 02/22/2008		20,164
		General Electric Capital Corp.
	6,500	4.70%, 01/28/2008		6,477
	27,000	4.79%, 01/24/2008		26,918
	19,400	4.92%, 08/22/2008 (L)		19,400
	29,200	4.95%, 05/19/2008 (L)		29,204
		Goldman Sachs Group, Inc.
	26,250	4.83%, 01/14/2008		26,204
	39,500	4.84%, 01/18/2008		39,410
		HBOS Treasury Services plc
	26,440	5.23%, 09/08/2008 (I)(L)		26,438
		HSBC Finance Corp.
	18,000	4.72%, 02/04/2008		17,920
	22,500	5.26%, 09/06/2008 (L)		22,500
		JP Morgan Chase & Co.
	42,500	5.15%, 01/25/2008 (L)		42,501
	26,200	5.21%, 09/02/2008 (L)		26,200
		Lehman Brothers Holdings, Inc.
	45,250	4.25%, 01/02/2008		45,245
	22,000	5.00%, 10/27/2008 (L)		22,000
		Merrill Lynch & Co., Inc.
	29,000	4.61%, 06/26/2008 (L)		29,007
	22,000	5.04%, 08/22/2008 (L)		22,000
	15,500	5.11%, 01/31/2008		15,434
		Morgan Stanley Dean Witter, Inc.
	26,900	4.57%, 03/24/2008 (L)		26,900
	21,000	5.10%, 05/19/2008		20,595
	19,700	5.55%, 01/30/2008		19,612
		Nordea Bank Ab
	21,700	5.23%, 09/08/2008 (I)(L)		21,700
		Nordea North America
	18,000	4.76%, 02/14/2008		17,896
	28,600	5.05%, 02/04/2008		28,464
		Royal Bank of Scotland Group plc
	37,500	4.92%, 04/14/2008 (I)		36,979
	32,750	5.09%, 03/13/2008 (I)		32,420
		Skandinav Enskilda Bank
	36,650	5.00%, 01/23/2008 (I)		36,538
		Skandinaviska Enskilda Bank NY
	21,500	4.74%, 02/01/2008 (I)		21,414
	21,600	5.24%, 09/08/2008 (I)(L)		21,600
		State Street Corp.
	21,500	4.80%, 01/22/2008		21,500
	42,500	4.89%, 03/17/2008		42,500
		Svenska Handelsbanken Ab
	25,750	4.75%, 02/07/2008		25,750
	34,140	5.16%, 01/07/2008		34,112
	22,000	5.17%, 11/12/2008 (I)(L)		22,000

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

­ ­  32  ­ ­

Hartford Money Market HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal					Market
Amount					Value (W)
		Finance — (continued)
		Swedbank
$	32,500	4.75%, 04/08/2008			$	32,086
	33,500	4.78%, 02/28/2008				33,244
	10,500	5.24%, 01/10/2008				10,486
		Toyota Motor Credit Corp.
	53,000	4.05%, 07/17/2008 (L)				53,000
	31,000	4.55%, 02/08/2008				30,852
	21,000	4.69%, 01/25/2008				20,934
		UBS Finance LLC
	24,053	4.23%, 01/02/2008				24,050
	30,000	4.85%, 02/26/2008				29,775
	21,500	4.94%, 03/19/2008				21,272
	24,500	4.98%, 04/07/2008				24,176
		Wachovia Bank NA
	18,000	4.98%, 03/31/2008				18,000
	46,700	5.24%, 02/04/2008				46,700
		Wells Fargo & Co.
	22,000	4.91%, 08/15/2008 (L)				22,000
	29,525	5.29%, 03/10/2008 (L)				29,529
		Westpac Banking Corp.
	25,750	4.67%, 02/05/2008				25,634
	30,000	4.70%, 01/30/2008				29,888
	21,600	5.02%, 09/15/2008 (I)(L)				21,600
						2,229,177
		Services — 2.4%
		Walt Disney Co.
	18,000	4.54%, 02/01/2008				17,930
	12,750	4.73%, 01/07/2008				12,740
	34,250	4.86%, 01/23/2008				34,149
						64,819
		Technology — 2.4%
		John Deere Capital Corp.
	31,750	4.51%, 01/30/2008				31,635
	32,750	4.74%, 02/01/2008				32,617
						64,252
		Total investments (cost $2,683,886) (C)	100.3	%	$	2,683,886
		Other assets and liabilities	(0.3	)%		(6,786	)
		Total net assets	100.0	%	$	2,677,100

Note:  Percentage of investments as shown is the ratio of the total market value to total net assets. The rates presented in this Schedule of Investments are yields, unless otherwise noted. Market value of investments in foreign securities represents 25.71% of total net assets at December 31, 2007.

(C)	Also represents cost for tax purposes.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $654,869, which represents 24.46% of total net assets.
(L)	Variable rate securities; the yield reported is the rate in effect at December 31, 2007.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Australia		4.6	%
Denmark		4.0
Norway		2.6
Sweden		4.2
Switzerland		5.0
United Kingdom		5.3
United States		74.6
Other Assets and Liabilities		(0.3	)
Total		100.0	%

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

­ ­  33  ­ ­

Hartford Small Company HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 101.7%
		Basic Materials — 12.2%
	175	Agrium, Inc.	$	12,671
	94	Alpha Natural Resources, Inc. (D)		3,053
	102	American Vanguard		1,772
	303	Arch Coal, Inc. (G)		13,612
	56	Barnes Group, Inc.		1,863
	41	Cabot Microelectronics Corp. (D)		1,481
	45	Century Aluminum Co. (D)		2,437
	47	Ceradyne, Inc. (D)		2,189
	32	CF Industries Holdings, Inc.		3,467
	188	Church & Dwight Co., Inc.		10,172
	97	Cleveland-Cliffs, Inc. (G)		9,777
	71	Drew Industries (D)		1,938
	27	Dynamic Materials Corp.		1,590
	130	FMC Corp.		7,115
	215	Foundation Coal Holdings, Inc.		11,304
	61	Grace (W.R.) & Co. (D)(G)		1,603
	171	Greif, Inc.		11,188
	477	Hercules, Inc.		9,231
	2,008	Kingboard Chemical Holdings Ltd. (A)		11,861
	218	Lupatech S.A.		7,342
	325	Owens-Illinois, Inc. (D)		16,088
	1,000	Rexam plc (A)		8,324
	166	Select Comfort Corp. (D)(G)		1,164
	187	Steel Dynamics, Inc.		11,121
	269	Sturm Ruger & Co., Inc. (D)(G)		2,231
	112	Tempur-Pedic International, Inc. (G)		2,911
	362	Terra Industries, Inc. (D)(G)		17,259
	191	Timminco LTD. (D)		4,258
	54	Titan International, Inc. (G)		1,681
	109	Tupperware Brands Corp.		3,602
	19	Valmont Industries, Inc.		1,684
				195,989
		Capital Goods — 6.2%
	336	Asyst Technologies, Inc. (D)		1,097
	69	Bally Technologies, Inc. (D)		3,448
	31	Blue Nile, Inc. (D)(G)		2,103
	22	Bucyrus International, Inc.		2,196
	60	Cymer, Inc. (D)		2,328
	33	Dril-Quip, Inc. (D)		1,839
	63	Flotek Inds, Inc. (D)(G)		2,256
	263	Flowserve Corp.		25,284
	73	Goodman Global, Inc. (D)		1,794
	103	Hexcel Corp. (D)		2,498
	241	Kennametal, Inc.		9,105
	200	Kulicke and Soffa Industries, Inc. (D)(G)		1,373
	37	Lufkin Industries, Inc.		2,128
	372	Marvel Entertainment, Inc. (D)(G)		9,942
	122	MKS Instruments, Inc. (D)		2,331
	50	NATCO Group, Inc. (D)		2,716
	164	Rudolph Technologies, Inc. (D)		1,856
	126	Scientific Games Corp. Class A (D)		4,201
	57	Tessera Technologies, Inc. (D)		2,383
	361	TransDigm Group, Inc. (D)		16,294
	26	Woodward Governor Co.		1,750
				98,922
		Consumer Cyclical — 10.3%
	136	Aeropostale, Inc. (D)		3,600
	325	BJ’s Wholesale Club, Inc. (D)		10,998
	111	Bon-Ton Stores, Inc. (G)		1,055
	66	CBRL Group, Inc.		2,151
	37	Chemed Corp.		2,053
	21	Chipotle Mexican Grill, Inc. (D)		2,580
	90	Conns, Inc. (D)(G)		1,533
	31	Deckers Outdoor Corp. (D)		4,807
	404	Dick’s Sporting Goods, Inc. (D)		11,223
	96	Dollar Tree Stores, Inc. (D)		2,492
	150	Dufry Group		16,718
	155	GameStop Corp. Class A (D)		9,618
	43	Granite Construction, Inc.		1,538
	94	Green Mountain Coffee Roasters (D)(G)		3,843
	80	Herman Miller, Inc.		2,576
	69	Integrated Electrical Services, Inc. (D)		1,304
	77	J. Crew Group, Inc. (D)(G)		3,691
	72	Jack in the Box, Inc. (D)		1,862
	138	Jos. A. Bank Clothiers, Inc. (D)(G)		3,939
	91	K-Swiss, Inc.		1,651
	31	Layne Christensen Co. (D)		1,536
	72	Lear Corp. (D)		1,994
	912	LKQ Corp. (D)(G)		19,182
	72	Men’s Wearhouse, Inc.		1,948
	47	Michael Baker Corp. (D)		1,943
	135	Pacific Sunwear of California, Inc. (D)		1,903
	66	Perini Corp. (D)		2,746
	90	PSS World Medical, Inc. (D)		1,758
	39	Sigma Designs, Inc. (D)(G)		2,155
	147	Sotheby’s (G)		5,618
	42	Synaptics, Inc. (D)		1,742
	61	Tween Brands, Inc. (D)		1,621
	131	UbiSoft Entertainment S.A. (A)(D)		13,348
	53	Under Armour, Inc. Class A (D)(G)		2,325
	174	VistaPrint Ltd. (D)(G)		7,436
	127	Walter Industries		4,545
	69	Warnaco Group, Inc. (D)		2,415
	64	World Fuel Services Corp.		1,864
				165,311
		Consumer Staples — 0.8%
	53	Boston Beer Co., Inc. Class A (D)		2,004
	63	Cal-Maine Foods Inc. (G)		1,678
	45	Chattem, Inc. (D)		3,368
	69	Flowers Foods, Inc.		1,621
	42	M & F Worldwide Corp. (D)		2,281
	106	Vector Group Ltd. (G)		2,120
				13,072
		Energy — 6.8%
	176	Aegean Marine Petroleum Network		6,757
	50	Alon USA Energy, Inc.		1,355
	70	Arena Resources, Inc. (D)		2,916
	44	ATP Oil & Gas Corp. (D)(G)		2,229
	38	Atwood Oceanics, Inc. (D)		3,797
	102	Basic Energy Services, Inc. (D)(G)		2,243
	343	Cabot Oil & Gas Corp.		13,853
	145	Cal Dive International, Inc. (D)(G)		1,919
	514	Complete Production Services, Inc. (D)(G)		9,242
	29	Dawson Geophysical Co. (D)		2,041
	105	Delek U.S. Holdings, Inc.		2,126
	691	Denbury Resources, Inc. (D)		20,564
	254	Forest Oil Corp. (D)		12,926

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

­ ­  34  ­ ­

Hartford Small Company HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Energy — (continued)
	659	Grey Wolf, Inc. (D)	$	3,514
	160	Hercules Offshore, Inc. (D)(G)		3,810
	421	Lundin Petroleum Ab (A)(D)(G)		4,379
	64	Mariner Energy, Inc. (D)		1,462
	121	Petrohawk Energy Corp. (D)		2,100
	118	PetroQuest Energy, Inc. (D)		1,691
	488	Warren Resources, Inc. (D)		6,901
	34	WD40 Co.		1,302
	46	W-H Energy Services (D)		2,608
				109,735
		Finance — 10.7%
	1,793	Aberdeen Asset Management plc (A)		5,915
	600	Aercap Holdings N.V. (D)		12,520
	439	Aircastle Ltd.		11,570
	17	Alexandria Real Estate Equities, Inc.		1,749
	368	Allied World Assurance Holdings Ltd.		18,463
	6,532	Babcock and Brown Wind Partners (A)		9,686
	150	Centene Corp. (D)		4,119
	601	Covanta Holding Corp. (D)		16,615
	40	Digital Realty Trust, Inc.		1,535
	79	Evercore Partners, Inc.		1,708
	42	First Industrial Realty Trust, Inc. (G)		1,436
	31	GFI Group, Inc. (D)		2,954
	521	GLG Partners, Inc. (D)(G)		7,084
	65	Greenhill & Co., Inc. (G)		4,317
	28	IHOP Corp. (G)		1,035
	115	Interactive Brokers Group (D)		3,706
	147	Knight Capital Group, Inc. (D)		2,120
	907	Liberty Acquisition Holdings Corp. (D)(G)		9,890
	416	MF Global Ltd. (D)		13,080
	60	Morningstar, Inc. (D)		4,682
	103	Nationwide Health Properties, Inc. (G)		3,230
	86	optionsXpress Holdings, Inc.		2,925
	42	Post Properties, Inc.		1,491
	328	ProAssurance Corp. (D)(G)		17,988
	47	Signature Bank (D)		1,596
	45	SVB Financial Group (D)		2,262
	124	Universal American Financial Corp. (D)		3,175
	110	Waddell and Reed Financial, Inc. Class A		3,977
				170,828
		Health Care — 13.3%
	107	Accuray, Inc. (D)		1,627
	88	Acorda Therapeutics, Inc. (D)		1,926
	62	Adams Respiratory Therapeutics, Inc. (D)		3,723
	30	Alexion Pharmaceuticals, Inc. (D)		2,240
	118	Align Technology, Inc. (D)(G)		1,972
	504	Alkermes, Inc. (D)		7,870
	153	Alliance Imaging, Inc. (D)		1,475
	45	Alnylam Pharmaceuticals, Inc. (D)(G)		1,316
	278	American Oriental Bioengineering, Inc. (D)(G)		3,077
	169	Amylin Pharmaceuticals, Inc. (D)(G)		6,260
	130	Apria Healthcare Group, Inc. (D)		2,795
	425	Arena Pharmaceuticals, Inc. (D)(G)		3,326
	49	ArthroCare Corp. (D)(G)		2,350
	135	Biomarin Pharmaceutical, Inc. (D)		4,772
	109	Bradley Pharmaceuticals, Inc. (D)		2,153
	407	Charles River Laboratories International, Inc. (D)		26,806
	154	Cubist Pharmaceuticals, Inc. (D)		3,164
	254	Dendreon Corp. (D)(G)		1,581
	409	HealthSouth Corp. (D)(G)		8,588
	50	Healthways, Inc. (D)(G)		2,914
	723	Human Genome Sciences, Inc. (D)(G)		7,549
	33	Illumina, Inc. (D)		1,973
	62	Immucor, Inc. (D)		2,111
	64	Integra LifeSciences Holdings Corp. (D)(G)		2,702
	36	Kendle International, Inc. (D)		1,767
	91	KV Pharmaceutical Co. (D)(G)		2,591
	27	Landauer, Inc.		1,399
	120	LCA-Vision, Inc. (G)		2,394
	47	Lifecell Corp. (D)		2,047
	33	Magellan Health Services, Inc. (D)		1,550
	90	Matria Healthcare, Inc. (D)(G)		2,141
	387	Medicines Co. (D)		7,416
	123	Medicis Pharmaceutical Corp. Class A (G)		3,185
	45	Meridian Bioscience, Inc.		1,362
	91	MGI PHARMA, Inc. (D)		3,696
	339	Millennium Pharmaceuticals, Inc. (D)		5,074
	191	Mindray Medical International Ltd. (G)		8,208
	64	Myriad Genetics, Inc. (D)		2,989
	32	Onyx Pharmaceuticals, Inc. (D)		1,763
	52	OSI Pharmaceuticals, Inc. (D)		2,503
	140	Par Pharmaceutical Cos., Inc. (D)		3,363
	39	PAREXEL International Corp. (D)		1,890
	67	Perrigo Co.		2,342
	400	Pharmaceutical Product Development, Inc.		16,143
	38	PharmaNet Development Group, Inc. (D)		1,484
	43	Pharmion Corp. (D)(G)		2,686
	107	Quidel Corp. (D)		2,090
	139	Savient Pharmaceuticals, Inc. (D)(G)		3,182
	139	Sciele Pharma, Inc. (D)(G)		2,852
	92	STERIS Corp.		2,647
	47	United Therapeutics Corp. (D)(G)		4,593
	40	Usana Health Sciences, Inc. (D)(G)		1,489
	151	Valeant Pharmaceuticals International (D)		1,808
	35	Ventana Medical Systems, Inc. (D)		3,088
	362	ViroPharma, Inc. (D)		2,873
	379	Volcano Corp. (D)		4,735
	36	Xenoport, Inc. (D)		1,994
				213,614
		Services — 12.0%
	57	Administaff, Inc.		1,623
	85	Allscripts Healthcare Solutions, Inc. (D)(G)		1,643
	31	Anixter International, Inc. (D)(G)		1,922
	88	Atheros Communications, Inc. (D)		2,683
	55	Bankrate, Inc. (D)(G)		2,666
	34	CACI International, Inc. Class A (D)		1,522
	23	Capella Education Co. (D)		1,520
	48	DeVry, Inc.		2,483
	171	Digital River, Inc. (D)		5,672
	265	Dolan Media Co. (D)		7,724
	189	Factset Research Systems, Inc.		10,518
	468	Focus Media Holding Ltd. ADR (D)(G)		26,576
	521	Foundry Networks, Inc. (D)		9,123
	316	FTI Consulting, Inc. (D)		19,496
	166	Healthspring, Inc. (D)		3,160
	469	Iron Mountain, Inc. (D)		17,372
	96	Jack Henry & Associates, Inc.		2,342
	51	JDA Software Group, Inc. (D)		1,039

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

­ ­  35  ­ ­

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Services — (continued)
	45	Life Time Fitness, Inc. (D)(G)	$	2,255
	655	Live Nation, Inc. (D)		9,516
	85	Macrovision Corp. (D)(G)		1,554
	74	MAXIMUS, Inc.		2,849
	135	Micros Systems (D)		9,479
	80	Monarch Casino & Resort, Inc. (D)		1,926
	218	Nice Systems Ltd. (D)		7,472
	106	Parametric Technology Corp. (D)		1,891
	166	Premier Exhibitions, Inc. (D)(G)		1,815
	129	Premiere Global Services, Inc. (D)		1,915
	110	Priceline.com, Inc. (D)(G)		12,688
	80	Resources Connection, Inc.		1,453
	148	Secure Computing Corp. (D)(G)		1,420
	206	Spherion Corp. (D)		1,496
	16	Strayer Education, Inc.		2,649
	381	Waste Connections, Inc. (D)		11,782
	46	Wright Express Corp. (D)		1,617
				192,861
		Technology — 28.7%
	605	Activision, Inc. (D)		17,982
	70	Actuant Corp. Class A		2,371
	242	Actuate Corp. (D)		1,884
	77	Acuity Brands, Inc.		3,469
	95	ADTRAN, Inc.		2,025
	216	Advanced Analogic Technologies, Inc. (D)(G)		2,439
	134	Advanced Energy Industries, Inc. (D)		1,756
	79	Advent Software, Inc. (D)		4,269
	60	Ansoft Corp. (D)		1,559
	481	Ansys, Inc. (D)		19,920
	152	Applied Micro Circuits Corp. (D)(G)		1,326
	159	Arris Group, Inc. (D)		1,592
	123	Aspen Technology, Inc. (D)		2,000
	59	Belden, Inc.		2,608
	61	Blackbaud, Inc.		1,715
	54	Blackboard, Inc. (D)		2,161
	127	Blue Coat Systems, Inc. (D)		4,186
	297	Cellcom Israel Ltd.		9,431
	266	Centennial Cellular Corp. Class A (D)(G)		2,474
	257	Chordiant Software, Inc. (D)		2,193
	74	Cogent Communication Group, Inc. (D)(G)		1,745
	328	Commvault Systems, Inc. (D)		6,950
	87	Comtech Group, Inc. (D)		1,398
	46	Comtech Telecommunications Corp. (D)		2,494
	208	Concur Technologies, Inc. (D)(G)		7,536
	105	CSG Systems International, Inc. (D)		1,545
	160	Ctrip.com International Ltd.		9,185
	33	Cubic Corp.		1,283
	41	DealerTrack Holdings, Inc. (D)		1,371
	55	Diodes, Inc. (D)		1,657
	28	Dionex Corp. (D)		2,285
	547	Emulex Corp. (D)		8,930
	273	Equinix, Inc. (D)(G)		27,584
	35	Esterline Technologies Corp. (D)		1,786
	123	Faro Technologies (D)		3,349
	582	FLIR Systems, Inc. (D)(G)		18,231
	43	FormFactor, Inc. (D)		1,423
	302	Fossil, Inc. (D)		12,681
	36	Genlyte Group (D)		3,427
	45	HMS Holdings Corp. (D)		1,508
	535	Hologic, Inc. (D)		36,736
	135	iBasis, Inc.		691
	268	IHS, Inc. (D)		16,215
	130	Informatica Corp. (D)		2,346
	442	Interactive Data Corp.		14,614
	113	Interdigital, Inc. (D)		2,632
	20	Itron, Inc. (D)(G)		1,920
	125	j2 Global Communications, Inc. (D)		2,655
	104	JA Solar Holdings Co., Ltd. ADR (D)		7,234
	210	Logitech International S.A. (D)		7,702
	98	Microsemi Corp. (D)		2,168
	20	MicroStrategy, Inc. (D)		1,927
	108	Mine Safety Appliances Co.		5,612
	209	MIPS Technologies, Inc. Class A (D)(G)		1,037
	93	Monolithic Power Systems, Inc. (D)		1,993
	81	Netflix, Inc. (D)(G)		2,168
	66	Netlogic Microsystems, Inc. (D)(G)		2,122
	98	Novatel Wireless, Inc. (D)		1,586
	575	Nuance Communications, Inc. (D)(G)		10,748
	578	O2Micro International Ltd. ADR (D)		6,673
	73	Omniture, Inc. (D)(G)		2,427
	117	OmniVision Technologies, Inc. (D)(G)		1,835
	352	ON Semiconductor Corp. (D)(G)		3,122
	1,088	Orbitz Worldwide, Inc. (D)		9,245
	106	Phase Forward, Inc. (D)		2,314
	585	PMC — Sierra, Inc. (D)(G)		3,828
	95	Polycom, Inc. (D)		2,643
	722	RF Micro Devices, Inc. (D)(G)		4,124
	89	RightNow Technologies, Inc. (D)		1,414
	37	SAVVIS, Inc. (D)		1,029
	444	Semtech Corp. (D)		6,887
	139	SiRF Technology Holdings, Inc. (D)(G)		3,492
	66	Sirona Dental Systems, Inc. (D)(G)		2,213
	229	Skyworks Solutions, Inc. (D)		1,948
	56	Sohu.com, Inc. (D)		3,075
	287	Sonus Networks, Inc. (D)(G)		1,671
	68	SPSS, Inc. (D)		2,442
	49	SRA International, Inc. (D)		1,443
	401	Sycamore Networks, Inc. (D)		1,540
	57	Synchronoss Technologies, Inc. (D)		2,021
	323	Teledyne Technologies, Inc. (D)		17,251
	333	THQ, Inc. (D)		9,397
	81	Time Warner Telecom, Inc. Class A (D)		1,648
	206	Trident Microsystems, Inc. (D)		1,350
	175	Triumph Group, Inc. (G)		14,403
	446	Trizetto Group, Inc. (D)		7,746
	194	Valueclick, Inc. (D)		4,249
	29	Varian, Inc. (D)		1,915
	123	Vasco Data Security International (D)		3,440
	111	Veeco Instruments, Inc. (D)(G)		1,856
	147	Websense, Inc. (D)		2,500
	139	Wind River Systems, Inc. (D)		1,242
	94	Zoran Corp. (D)		2,126
				460,343
		Transportation — 0.6%
	103	American Commercial Lines, Inc. (D)(G)		1,677
	38	Genco Shipping & Trading Ltd.		2,092
	83	Polaris Industries, Inc. (G)		3,967
	58	Teekay Tankers Ltd. (D)		1,278
				9,014

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

­ ­  36  ­ ­

Hartford Small Company HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

					Market
Shares					Value (W)
COMMON STOCK — (continued)
		Utilities — 0.1%
	38	ITC Holdings Corp.			$	2,169
		Total common stock (cost $1,463,850)			$	1,631,858
PREFERRED STOCK — 0.4%
		Services — 0.4%
	568	Net Servicos de Comunicacao S.A. (D)				6,927
		Total preferred stock (cost $6,918)			$	6,927
		Total long-term investments (cost $1,470,768)			$	1,638,785
Principal
Amount
SHORT-TERM INVESTMENTS — 21.0%
		Repurchase Agreements — 1.5%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,030, collateralized by FNMA 5.00%, 2035, value of $1,050)
$	1,030	4.50% dated 12/31/2007			$	1,030
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $9, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $9)
	9	1.35% dated 12/31/2007				9
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $2,867, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $2,923)
	2,866	4.75% dated 12/31/2007				2,866
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $404, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $412)
	404	4.60% dated 12/31/2007				404
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2008 in the amount of $9,743, collateralized by U.S. Treasury Note 3.63%, 2012, value of $9,978)
	9,743	1.30% dated 12/31/2007				9,743
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2008 in the amount of $9,502, collateralized by U.S. Treasury Note 3.38% — 12.50%, 2009 — 2014, value of $9,707)
	9,501	1.25% dated 12/31/2007				9,501
						23,553
					Market
Shares					Value (W)
		Securities Purchased with Proceeds from Security Lending — 19.5%
		Cash Collateral Reinvestment Fund:
	312,815	Goldman Sachs FS Prime Obligation/Institutional Fund				312,815
Principal
Amount
		U.S. Treasury Bills — 0.0%
$	1,015	2.97%, 03/13/2008 (M)(S)				1,009
		Total short-term investments (cost $337,377)			$	337,377
		Total investments (cost $1,808,145) (C)	123.1	%	$	1,976,162
		Other assets and liabilities	(23.1	)%		(370,943	)
		Total net assets	100.0	%	$	1,605,219

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 11.90% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $1,816,109 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	259,201
Unrealized Depreciation		(99,148	)
Net Unrealized Appreciation	$	160,053

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $53,513, which represents 3.33% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(M)	The interest rate disclosed for these securities represents the effective yield on the date of acquisition.
(S)	Security pledged as initial margin deposit for open futures contracts at December 31, 2007.
	Futures Contracts Outstanding at December 31, 2007

							Unrealized
	Number of				Expiration		Appreciation/
Description	Contracts*		Position		Month		(Depreciation)
Russell Mini Futures		238		Long		Mar 2008	$	53

	* The number of contracts does not omit 000’s.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  37  ­ ­

Hartford Stock HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 99.1%
		Basic Materials — 5.0%
	192	Agrium, Inc.	$	13,897
	1,564	Alcoa, Inc.		57,153
	304	ArcelorMittal		23,545
	777	Cameco Corp.		30,928
	344	Consol Energy, Inc. (G)		24,574
	403	Freeport McMoRan Copper & Gold, Inc.		41,314
	1,865	Mitsubishi Rayon Co., Ltd. (A)(G)		8,991
	148	United States Steel Corp.		17,895
	913	Uranium One, Inc. (D)		8,166
				226,463
		Consumer Cyclical — 4.2%
	10,986	Buck Holdings L.P. (A)(D)(H)		9,887
	1,796	Kohl’s Corp. (D)		82,262
	2,763	Lowe’s Cos., Inc. (G)		62,489
	939	Supervalu, Inc. (G)		35,246
				189,884
		Consumer Staples — 5.2%
	113	Bunge Ltd. Finance Corp.		13,154
	6	Japan Tobacco, Inc. (A)		33,933
	944	PepsiCo, Inc.		71,612
	1,610	Procter & Gamble Co.		118,199
				236,898
		Energy — 9.5%
	732	Chesapeake Energy Corp. (G)		28,679
	348	ConocoPhillips Holding Co.		30,737
	713	EnCana Corp.		48,449
	1,101	Exxon Mobil Corp.		103,125
	1,051	Halliburton Co.		39,837
	1,477	OAO Gazprom ADR (G)		83,737
	1,268	Occidental Petroleum Corp.		97,646
				432,210
		Finance — 22.1%
	2,084	American International Group, Inc.		121,497
	2,748	Bank of America Corp.		113,363
	1,180	Capital One Financial Corp. (G)		55,743
	714	Citigroup, Inc.		21,032
	2,432	Countrywide Financial Corp. (G)		21,746
	3,042	Discover Financial Services (G)		45,876
	442	Federal Home Loan Mortgage Corp. (G)		15,069
	1,115	Federal National Mortgage Association		44,558
	432	Goldman Sachs Group, Inc.		92,944
	1,042	ING Groep N.V. ADR		40,560
	2,508	Invesco Ltd.		78,706
	313	Merrill Lynch & Co., Inc.		16,791
	822	Morgan Stanley		43,630
	748	State Street Corp.		60,729
	1,718	UBS AG		79,006
	1,409	UnitedHealth Group, Inc.		82,004
	2,271	Washington Mutual, Inc.		30,910
	1,899	Western Union Co.		46,112
				1,010,276
		Health Care — 14.9%
	539	Astellas Pharma, Inc. (A)		23,372
	436	AstraZeneca plc (A)		18,753
	772	Daiichi Sankyo Co., Ltd. (A)		23,763
	563	Eisai Co., Ltd. (A)		22,027
	3,261	Elan Corp. plc ADR (D)		71,683
	1,356	Eli Lilly & Co.		72,376
	718	Genentech, Inc. (D)		48,130
	1,522	Medtronic, Inc.		76,496
	994	Sanofi-Aventis S.A. ADR		45,243
	2,969	Schering-Plough Corp.		79,089
	2,429	Shionogi & Co., Ltd. (A)		43,064
	427	UCB S.A. (A)		19,373
	644	Vertex Pharmaceuticals, Inc. (D)(G)		14,951
	1,195	Walgreen Co.		45,502
	1,716	Wyeth		75,843
				679,665
		Services — 9.5%
	626	Accenture Ltd. Class A		22,566
	4,873	Comcast Corp. Class A (D)		88,972
	741	Monster Worldwide, Inc. (D)		24,021
	4,036	Time Warner, Inc.		66,629
	1,323	United Parcel Service, Inc. Class B		93,577
	1,033	Viacom, Inc. Class B (D)		45,352
	1,690	Waste Management, Inc.		55,202
	3,022	XM Satellite Radio Holdings, Inc. Class A (D)(G)		36,991
				433,310
		Technology — 27.5%
	454	Apple, Inc. (D)		89,869
	3,778	Applied Materials, Inc.		67,097
	1,126	AT&T, Inc.		46,789
	1,545	Broadcom Corp. Class A (D)		40,386
	4,559	Cisco Systems, Inc. (D)		123,412
	1,384	Corning, Inc.		33,209
	462	Electronic Arts, Inc. (D)		26,968
	3,082	Flextronics International Ltd. (D)		37,163
	6,069	General Electric Co.		224,963
	185	Google, Inc. (D)		127,924
	3,807	Intel Corp.		101,497
	618	KLA-Tencor Corp. (G)		29,768
	2,786	Maxim Integrated Products, Inc.		73,763
	1,039	MetroPCS Communications, Inc. (D)		20,214
	2,565	Network Appliance, Inc. (D)		64,017
	679	Qualcomm, Inc.		26,723
	602	SanDisk Corp. (D)(G)		19,982
	2,506	Sprint Nextel Corp. (G)		32,908
	549	Whirlpool Corp. (G)		44,847
	1,070	Yahoo!, Inc. (D)		24,881
				1,256,380
		Transportation — 0.2%
	709	Delta Air Lines, Inc. (D)		10,556
		Utilities — 1.0%
	562	Suntech Power Holdings Co., Ltd. ADR (D)		46,264
		Total common stock (cost $4,446,239)	$	4,521,906

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

­ ­  38  ­ ­

Hartford Stock HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

					Market
Shares					Value (W)
PREFERRED STOCK — 0.5%
		Finance — 0.5%
	938	Banco Itau Holding			$	23,969
		Total preferred stock (cost $20,580)			$	23,969
		Total long-term investments (cost $4,466,819)			$	4,545,875
SHORT-TERM INVESTMENTS — 4.2%
		Repurchase Agreements — 0.4%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $3,883, collateralized by FNMA 5.00%, 2035, value of $3,960)
$	3,882	4.50% dated 12/31/2007			$	3,882
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $35, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $36)
	35	1.35% dated 12/31/2007				35
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $10,807, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $11,020)
	10,804	4.75% dated 12/31/2007				10,804
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,524, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $1,554)
	1,524	4.60% dated 12/31/2007				1,524
						16,245
Shares
		Securities Purchased with Proceeds from Security Lending — 3.8%
		Cash Collateral Reinvestment Fund:
	157,601	Navigator Prime Portfolio				157,601
Principal
Amount
		Federal Home Loan Bank Collateral Securities:
		Federal Home Loan Bank
$	4	3.98%, 05/02/2008				4
	—	4.00%, 02/06/2009				—
	2,176	4.60%, 11/28/2008				2,177
						2,181
		Federal Home Loan Mortgage Corporation Collateral Securities:
		Federal Home Loan Mortgage Corporation
	211	4.03%, 02/04/2000				210
	4,079	4.04%, 01/25/2008				4,067
	3,649	4.13%, 11/30/2009				3,693
						7,970
		Federal National Mortgage Association Collateral Securities:
		Federal National Mortgage Association
	2,552	4.02%, 03/28/2008				2,527
		Federal National Mortgage Association
	2,006	4.06%, 03/03/2008				1,991
						4,518
						172,270
		Total short-term investments (cost $188,515)			$	188,515
		Total investments (cost $4,655,334) (C)	103.8	%	$	4,734,390
		Other assets and liabilities	(3.8	)%		(172,507	)
		Total net assets	100.0	%	$	4,561,883

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 15.54% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $4,695,952 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	415,433
Unrealized Depreciation		(376,995	)
Net Unrealized Appreciation	$	38,438

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $203,163, which represents 4.45% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(H)	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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		10,986	Buck Holdings L.P.	$	10,997

The aggregate value of these securities at December 31, 2007 was $9,887 which represents 0.22% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Euro (Sell)	$	232,565	$	233,094		03/03/08	$	529
Japanese Yen (Sell)		4,406		4,298		01/07/08		(108	)
Japanese Yen (Sell)		3,468		3,432		01/08/08		(36	)
							$	385

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  39  ­ ­

Hartford Total Return Bond HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

Principal			Market
Amount			Value (W)
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 15.1%
		Finance — 14.9%
		ACT Depositor Corp.
$	9,450	5.42%, 09/22/2041 (H)(L)	$	6,615
		Banc of America Commercial Mortgage, Inc.
	2,695	4.43%, 11/10/2039		2,664
	90,957	4.52%, 09/11/2036 (H)(P)		2,256
		Banc of America Securities Automotive Trust
	5,880	4.49%, 02/18/2013 (H)		5,872
		Bayview Commercial Asset Trust
	48,991	7.00%, 07/25/2037 (H)(P)		6,338
	80,017	7.50%, 09/25/2037 (H)(P)		11,678
		Bayview Financial Acquisition Trust
	4,430	6.45%, 05/28/2037 (H)(L)		3,101
		Bear Stearns Commercial Mortgage Securities, Inc.
	69,427	4.07%, 07/11/2042 (H)(P)		1,932
	54,131	4.12%, 11/11/2041 (H)(P)		1,315
	128,539	5.50%, 02/11/2041 (H)(P)		2,120
	15,790	5.58%, 09/11/2041		15,631
		CBA Commercial Small Balance Commercial Mortgage
	132,713	7.00%, 07/25/2035 — 06/25/2038 (H)(P)		8,553
		Citigroup Commercial Mortgage Trust
	10,145	5.41%, 10/15/2049		10,190
		Citigroup Mortgage Loan Trust, Inc.
	—	0.00%, 01/25/2037 (A)(I)(M)		—
	40,949	5.93%, 07/25/2037 (L)		41,086
	1,387	12.00%, 01/25/2037 (I)(M)		3,025
		Commercial Mortgage Pass-Through Certificates
	15,000	5.31%, 12/10/2046		14,955
	16,101	5.96%, 06/10/2046 (L)		16,677
	14,035	6.01%, 12/10/2049 (L)		14,545
		Countrywide Asset-Backed Certificates
	1,753	5.46%, 07/25/2035		1,627
		Countrywide Home Loans, Inc.
	42,938	6.00%, 10/25/2037		42,583
		Credit Suisse Mortgage Capital Certificates
	7,816	6.02%, 06/15/2038 (L)		7,937
		Credit-Based Asset Servicing and Securitization LLC
	3,326	5.14%, 05/25/2036 (H)(L)		3,194
	4,735	5.86%, 04/25/2037		3,100
		CS First Boston Mortgage Securities Corp.
	1,835	4.51%, 07/15/2037		1,813
		CWCapital Cobalt
	14,521	5.48%, 04/15/2047		14,596
		DB Master Finance LLC
	12,470	5.78%, 06/20/2031 (I)		12,019
		First Horizon Mortgage Pass-Through Trust
	60,659	5.86%, 05/25/2037 (L)		61,097
		GE Business Loan Trust
	9,270	6.03%, 05/15/2034 (H)(L)		8,206
	285,821	6.14%, 05/15/2034 (H)(P)		2,315
		Goldman Sachs Mortgage Securities Corp. II
	159,711	4.38%, 08/10/2038 (H)(P)		1,278
		Green Tree Financial Corp.
	1,433	7.24%, 06/15/2028		1,501
		Greenwich Capital Commercial Funding Corp.
	22,360	5.60%, 12/10/2049		22,587
		Home Equity Asset Trust
	7,575	5.82%, 07/25/2037 (H)(L)		2,531
		JP Morgan Automotive Receivable Trust
	1,675	12.85%, 03/15/2012 (A)(H)		1,417
		JP Morgan Chase Commercial Mortgage Security Corp.
	13,714	4.16%, 01/12/2039 (I)		13,279
	630,354	4.82%, 08/12/2037 (H)(P)		2,024
	21,450	5.00%, 10/15/2042 (L)		20,508
	463,055	5.42%, 05/12/2045 (H)(P)		10,026
	20,090	5.54%, 12/12/2043 (L)		18,517
	4,620	6.40%, 02/12/2051 (I)(L)		4,400
		LB-UBS Commercial Mortgage Trust
	18,200	5.22%, 02/15/2031 (L)		17,663
	14,725	5.41%, 09/15/2039 (L)#		14,412
	4,750	5.45%, 11/15/2038 (L)		4,411
	11,890	5.48%, 11/15/2038 (L)		10,918
		Lehman Brothers Small Balance Commercial
	5,818	5.52%, 09/25/2030 (I)		5,763
	5,180	5.62%, 09/25/2036 (I)		5,212
		Marlin Leasing Receivables LLC
	13,390	5.33%, 09/16/2013 (I)		13,497
		Merrill Lynch Mortgage Trust
	61,392	3.96%, 10/12/2041 (H)(P)		1,551
	231,369	4.57%, 06/12/2043 (H)(P)		5,305
		Merrill Lynch/Countrywide Commercial Mortgage Trust
	21,500	5.20%, 12/12/2049		20,758
	9,920	6.10%, 06/12/2046 (L)		10,354
		Morgan Stanley Automotive Loan Trust
	1	5.00%, 03/15/2012 (I)		1
		Morgan Stanley Dean Witter Capital I
	23,227	0.46%, 08/25/2032 (H)(P)		2
	21,470	6.08%, 06/11/2049 (L)		21,805
		Nationstar Home Equity Loan Trust
	1,517	9.97%, 03/25/2037 (H)(L)		1,495
		Option One Mortgage Loan Trust — Class M6
	3,875	6.99%, 03/25/2037 (H)		1,060
		Option One Mortgage Loan Trust — Class M7
	2,575	6.99%, 03/25/2037 (H)		644
		Option One Mortgage Loan Trust — Class M8
	2,525	6.99%, 03/25/2037 (H)		505
		Popular ABS Mortgage Pass-Through Trust
	3,775	4.75%, 12/25/2034		3,673
	3,180	5.42%, 04/25/2035		2,836

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

­ ­  40  ­ ­

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal			Market
Amount			Value (W)
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — (continued)
		Finance — (continued)
		Renaissance Home Equity Loan Trust
$	4,670	5.36%, 05/25/2035 (H)	$	4,113
	6,480	5.75%, 05/25/2036 (H)(L)		5,994
	2,800	7.50%, 04/25/2037 (H)		1,772
		Renaissance Home Equity Loan Trust Class M5
	4,300	7.00%, 09/25/2037 (H)		2,795
		Renaissance Home Equity Loan Trust Class M8
	5,375	7.00%, 09/25/2037 (H)		2,419
		Soundview NIM Trust
	950	6.41%, 12/25/2036 (H)		760
		Swift Master Automotive Receivables Trust
	17,050	5.68%, 10/15/2012 (L)		16,962
		Wachovia Bank Commercial Mortgage Trust
	55,509	3.65%, 02/15/2041 (H)(P)		1,205
	1,835	4.52%, 05/15/2044		1,811
	21,589	5.25%, 12/15/2043		21,550
	2,089,803	10.00%, 02/15/2051 (H)(P)		3,448
		Wachovia Bank Commercial Mortgage Trust Class A2
	6,930	5.42%, 01/15/2045		6,982
		Wachovia Bank Commercial Mortgage Trust Class A4
	15,000	5.42%, 01/15/2045 (L)		15,078
		Wamu Commercial Mortgage Securities Trust
	19,570	6.31%, 03/23/2045 (H)(L)		17,001
				668,863
		Transportation — 0.2%
		Continental Airlines, Inc.
	4,524	6.70%, 06/15/2021 #		4,535
	4,513	8.05%, 11/01/2020 #		4,806
				9,341
		Total asset & commercial mortgage backed securities (cost $701,872)	$	678,204
CORPORATE BONDS: INVESTMENT GRADE — 24.1%
		Basic Materials — 0.9%
		Kimberly-Clark Corp.
$	17,207	6.63%, 08/01/2037 #	$	19,045
		Rohm & Haas Holdings
	8,419	5.60%, 03/15/2013 #		8,748
		Vulcan Materials Co.
	5,885	5.60%, 11/30/2012		5,918
		Westvaco Corp.
	4,975	7.95%, 02/15/2031 #		5,269
				38,980
		Capital Goods — 0.4%
		Embraer Overseas Ltd.
	4,600	6.38%, 01/24/2017		4,365
		Tyco International Group S.A.
	5,710	6.00%, 10/01/2012 (I)		5,851
	5,995	6.55%, 10/01/2017 (I)		6,166
				16,382
		Consumer Cyclical — 0.9%
		J. C. Penney Co., Inc.
	4,788	6.38%, 10/15/2036		4,279
		Lowe’s Companies, Inc.
	4,731	5.60%, 09/15/2012 #		4,859
		Ltd. Brands, Inc.
	11,303	6.90%, 07/15/2017 #		10,921
		Target Corp.
	9,041	6.50%, 10/15/2037 (G)		9,087
		Tesco plc
	11,806	5.50%, 11/15/2017 (I)		11,775
				40,921
		Consumer Staples — 0.7%
		Anheuser-Busch Cos., Inc.
	6,483	5.50%, 01/15/2018		6,618
		Diageo Finance B.V.
	11,414	5.50%, 04/01/2013 (G)		11,580
		General Mills, Inc.
	14,448	5.65%, 09/10/2012 (G)		14,684
				32,882
		Energy — 1.5%
		Canadian National Resources Ltd.
	1,689	6.25%, 03/15/2038 #		1,650
	10,165	6.50%, 02/15/2037		10,188
		Consumers Energy Co.
	4,000	5.15%, 02/15/2017 #		3,849
	5,190	5.38%, 04/15/2013 #		5,176
		Enterprise Products Operating L.P.
	6,935	4.63%, 10/15/2009 #		6,924
		Husky Oil Co.
	220	8.90%, 08/15/2028 #		222
		Petro-Canada
	12,815	5.95%, 05/15/2035 (G)		12,358
		Ras Laffan Liquefied Natural Gas Co., Ltd.
	1,855	3.44%, 09/15/2009 (I)#		1,852
	16,410	5.30%, 09/30/2020 (I)#		15,927
		Sempra Energy
	3,435	6.00%, 02/01/2013 #		3,549
		TNK-BP Finance S.A.
	3,410	7.50%, 07/18/2016 (I)#		3,303
	4,000	7.50%, 03/13/2013 (I)		3,990
				68,988
		Finance — 12.0%
		ABX Financing Co.
	10,013	6.35%, 10/15/2036 (I)#		9,807
		American Capital Strategies Ltd.
	10,577	6.85%, 08/01/2012 #		10,660
		American Express Credit Corp.
	9,727	5.55%, 10/17/2012		9,898
	9,066	6.15%, 08/28/2017 #		9,304
	9,976	6.80%, 09/01/2066 (G)		10,115
		American International Group, Inc.
	4,430	6.25%, 03/15/2037 (G)		3,962

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

­ ­  41  ­ ­

Principal			Market
Amount (B)			Value (W)
CORPORATE BONDS: INVESTMENT GRADE — (continued)
		Finance — (continued)
		Americo Life, Inc.
$	75	7.88%, 05/01/2013 (H)	$	77
		Amvescap plc
	18,030	4.50%, 12/15/2009 #		17,791
	3,544	5.38%, 02/27/2013 #		3,394
		Army Hawaii Family Housing Trust Certificates
	5,370	5.52%, 06/15/2050 (I)#		5,149
		Axa S.A.
	29,881	6.46%, 12/14/2049 (I)(L)#		26,907
		BAE Systems Holdings, Inc.
	9,535	5.20%, 08/15/2015 (I)#		9,259
		Bank of New York Institutional Capital Trust
	200	7.78%, 12/01/2026 (I)#		207
		BB&T Capital Trust IV
	17,052	6.82%, 06/12/2057 (G)(L)		16,042
		Capital One Capital III
	9,825	7.69%, 08/15/2036 (H)		7,989
		Centura Capital Trust I
	250	8.85%, 06/01/2027 (H)		261
		CIT Group, Inc.
	10,860	6.10%, 03/15/2067 (G)(L)#		7,885
		Citigroup Inc.
	21,829	8.30%, 12/21/2057 (L)		22,794
		Comerica Capital Trust II
	14,553	6.58%, 02/20/2037 (L)#		11,624
		Corpoacion Andina De Fomento
	8,420	5.75%, 01/12/2017 (H)#		8,336
		Countrywide Financial Corp.
	345	4.50%, 06/15/2010 #		251
	16,996	5.80%, 06/07/2012		12,416
		Countrywide Home Loans, Inc.
	750	4.00%, 03/22/2011 (G)		542
	699	4.13%, 09/15/2009 (G)		513
	1,260	6.25%, 04/15/2009		981
		Credit Agricole
	29,611	6.64%, 05/31/2049 (I)(L)#		27,472
		Credit Suisse First Boston USA, Inc.
	3,105	6.50%, 01/15/2012 #		3,273
		Depfa ACS bank
JPY	4,310,000	1.65%, 12/20/2016		37,803
		Duke Realty L.P.
	6,977	5.95%, 02/15/2017 #		6,754
		ERAC USA Finance Co.
	7,300	5.60%, 05/01/2015 (I)#		6,942
		ERP Operating L.P.
	4,517	5.75%, 06/15/2017 #		4,301
		General Electric Capital Corp.
	18,350	6.37%, 11/15/2067 (L)		18,946
		Goldman Sachs Capital Trust II
	17,925	5.79%, 12/29/2049 (L)#		15,959
		Janus Capital Group, Inc.
	18,425	6.70%, 06/15/2017 (H)		18,976
		John Deere Capital Corp.
	15,658	4.95%, 12/17/2012		15,679
		Lincoln National Corp.
	22,880	6.05%, 04/20/2067		21,360
		Mellon Capital IV
	7,514	6.24%, 06/20/2049 (L)#		6,974
		Metlife, Inc.
	12,829	6.40%, 12/15/2036 (G)		11,758
		MUFG Capital Finance I Ltd.
	10,500	6.35%, 07/25/2049 (L)#		9,945
		North Street Referenced Linked Notes
	3,900	6.03%, 07/30/2010 (H)(L)		3,042
		Northgroup Preferred Capital Corp.
	11,208	6.38%, 10/15/2049 (H)(L)		9,903
		PNC Preferred Funding Trust II
	9,800	6.11%, 03/15/2049 (H)(L)		8,616
		Progressive Corp.
	14,845	6.70%, 06/15/2037 (L)#		13,782
		Prudential Holdings LLC
	200	7.25%, 12/18/2023 (I)#		228
		Regional Diversified Funding
	96	9.25%, 03/15/2030 (I)#		111
		Regions Financing Trust II
	10,039	6.63%, 05/15/2047 #		8,296
		Simon Property Group, Inc.
	10,700	7.88%, 03/15/2016 (I)#		11,822
		SMFG Preferred Capital
	16,392	6.08%, 12/01/2049 (I)(L)#		15,101
		Unicredito Luxembourg Finance S.A.
	17,930	6.00%, 10/31/2017 (I)		17,753
		US Bank Realty Corp.
	13,200	6.09%, 12/22/2049 (I)(L)#		11,727
		Washington Mutual Preferred Funding
	7,400	9.75%, 10/29/2049 (I)(L)		5,920
		Westfield Group
	9,076	5.70%, 10/01/2016 (I)#		8,681
		ZFS Finance USA Trust I
	12,670	6.50%, 05/09/2037 (I)(L)		11,697
				538,985
		Foreign Governments — 0.2%
		Canadian Government
CAD	200	9.00%, 03/01/2011		233
		El Salvador (Republic of)
	2,330	8.50%, 07/25/2011 (T)#		2,540
		Italy (Republic of)
AUD	300	5.88%, 08/14/2008		261
		Russian Federation
	5,128	8.25%, 03/31/2010 (T)		5,316
				8,350
		Health Care — 0.6%
		Covidien International
	6,838	5.45%, 10/15/2012 (I)		7,041
		CVS Caremark Corp.
	18,166	6.30%, 06/01/2037 (L)#		17,558
				24,599
		Services — 1.8%
		Clear Channel Communications, Inc.
	8,890	7.65%, 09/15/2010		9,132
		Comcast Corp.
	7,763	6.30%, 11/15/2017 #		8,054
	100	10.63%, 07/15/2012 #		119
		COX Communications, Inc.
	10,240	5.45%, 12/15/2014 #		10,036
	7,758	5.88%, 12/01/2016 (I)#		7,712

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

­ ­  42  ­ ­

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal			Market
Amount (B)			Value (W)
CORPORATE BONDS: INVESTMENT GRADE — (continued)
		Services — (continued)
		Electronic Data Systems Corp.
$	2,350	3.88%, 07/15/2023 (X)#	$	2,335
		International Bank for Reconstruction and Development
TRY	5,650	13.63%, 05/09/2017		4,804
		Marriott International, Inc.
	9,625	6.20%, 06/15/2016 (G)		9,732
		Mashantucket Western Pequot Revenue Bond
	4,709	5.91%, 09/01/2021 (H)		4,492
		Time Warner Entertainment Co., L.P.
	15,075	8.38%, 07/15/2033 #		18,159
		Time Warner, Inc.
	5,120	6.50%, 11/15/2036		4,982
		Viacom, Inc.
	2,850	6.25%, 04/30/2016		2,867
				82,424
		Technology — 2.5%
		Agilent Technologies, Inc.
	9,954	6.50%, 11/01/2017		10,112
		AT&T Corp.
	7,672	8.00%, 11/15/2031 #		9,422
		AT&T, Inc.
	11,419	4.95%, 01/15/2013		11,480
		British Telecommunications plc
	17,973	5.15%, 01/15/2013		17,934
		Cingular Wireless Services, Inc.
	12,600	8.75%, 03/01/2031 #		16,329
		Comcast Cable Communications, Inc.
	500	8.50%, 05/01/2027 #		602
		GTE Corp.
	165	8.75%, 11/01/2021 #		202
		Sprint Capital Corp.
	10,300	8.75%, 03/15/2032		11,610
		TCI Communications, Inc.
	4,025	8.75%, 08/01/2015 #		4,682
		Telecom Italia Capital
	8,515	7.20%, 07/18/2036 (G)		9,388
		Tele-Communications, Inc.
	7,975	7.88%, 08/01/2013 #		8,740
		Verizon Maryland, Inc.
	1,500	8.30%, 08/01/2031 #		1,790
		Verizon Virginia, Inc.
	125	4.63%, 03/15/2013 #		121
		Vodafone Group plc
	10,479	6.15%, 02/27/2037 (G)		10,349
				112,761
		Transportation — 0.4%
		American Airlines, Inc.
	5,696	7.86%, 10/01/2011 #		5,979
		CSX Corp.
	10,875	6.75%, 03/15/2011 (G)		11,412
				17,391
		Utilities — 2.2%
		CenterPoint Energy Resources Corp.
	2,763	6.63%, 11/01/2037		2,785
		CenterPoint Energy, Inc.
	7,475	6.85%, 06/01/2015 (G)		7,835
		Detroit Edison Co.
	3,875	6.13%, 10/01/2010 #		4,018
		Florida Power Corp.
	4,481	5.80%, 09/15/2017 (G)		4,654
		Kinder Morgan Energy Partners L.P.
	4,720	6.50%, 02/01/2037 #		4,665
		NGPL Pipeco LLC
	21,050	6.51%, 12/15/2012 (I)		21,373
		Northern States Power Co.
	5,735	6.25%, 06/01/2036 (G)		5,960
		Peco Energy Co.
	6,130	5.95%, 10/01/2036 #		6,061
		Puget Sound Energy, Inc.
	3,190	7.96%, 02/22/2010 #		3,409
		Taqa Abu Dhabi National Energy
	13,525	5.62%, 10/25/2012 (I)		13,729
		Texas-New Mexico Power Co.
	2,483	6.13%, 06/01/2008 #		2,477
		TransCanada Pipelines Ltd.
	14,587	6.20%, 10/15/2037		14,483
		Virginia Electric & Power Co.
	6,327	5.10%, 11/30/2012		6,354
		Westar Energy, Inc.
	1,400	5.15%, 01/01/2017 #		1,343
				99,146
		Total corporate bonds: investment grade (cost $1,108,713)	$	1,081,809
CORPORATE BONDS: NON-INVESTMENT GRADE — 7.7%
		Basic Materials — 1.1%
		AK Steel Corp.
$	8,805	7.75%, 06/15/2012	$	8,849
		Evraz Group S.A.
	3,400	8.25%, 11/10/2015 (T)		3,350
		Freeport-McMoRan Copper & Gold, Inc.
	9,875	8.25%, 04/01/2015 #		10,467
		Potlatch Corp.
	12,100	13.00%, 12/01/2009 (H)(L)		13,671
		US Steel Corp
	10,221	7.00%, 02/01/2018		10,153
		Valmont Industries, Inc.
	1,215	6.88%, 05/01/2014		1,203
				47,693
		Capital Goods — 0.4%
		Bombardier, Inc.
	8,650	6.30%, 05/01/2014 (I)#		8,455
		L-3 Communications Corp.
	6,102	3.00%, 08/01/2035 (X)		7,376
				15,831
		Consumer Cyclical — 0.3%
		Aramark Corp.
	5,110	8.41%, 02/01/2015 (L)#		4,982
		Grupo Gigante S.A.
	1,900	8.75%, 04/13/2016 (T)		2,118
		K. Hovnanian Enterprises, Inc.
	3,770	6.00%, 01/15/2010 (G)		2,432

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

­ ­  43  ­ ­

Principal			Market
Amount (B)			Value (W)
CORPORATE BONDS: NON-INVESTMENT GRADE — (continued)
		Consumer Cyclical — (continued)
		Parkson Retail Group Ltd.
$	3,400	7.88%, 11/14/2011	$	3,366
		Tenneco, Inc.
	1,795	8.63%, 11/15/2014 (G)		1,764
				14,662
		Consumer Staples — 0.1%
		OJSC Myronivsky Hliboproduct
	4,235	10.25%, 11/30/2011 (H)#		4,235
		Energy — 0.3%
		Chesapeake Energy Corp.
	3,876	2.75%, 11/15/2035 (X)#		4,535
		Range Resources Corp.
	7,669	7.38%, 07/15/2013		7,784
				12,319
		Finance — 2.0%
		American Real Estate Partners L.P.
	9,165	7.13%, 02/15/2013 #		8,615
		ATF Bank
	2,100	9.00%, 05/11/2016 (I)#		2,115
		Banco BMG S.A.
	3,270	9.15%, 01/15/2016 (T)		3,297
		Citigroup (JSC Severstal)
	5,610	9.25%, 04/19/2014 (T)#		5,958
		Drummond Co., Inc.
	6,555	7.38%, 02/15/2016 (G)(H)		6,080
		Ford Motor Credit Co.
	9,440	9.69%, 04/15/2012 (L)#		9,283
		General Motors Acceptance Corp.
	22,415	6.88%, 09/15/2011		19,176
		Hertz Corp.
	9,335	10.50%, 01/01/2016 (G)		9,662
		Kazkommerts International B.V.
	1,922	8.00%, 11/03/2015 (I)#		1,595
		LPL Holdings, Inc.
	2,990	10.75%, 12/15/2015 (H)		2,960
		Northern Rock plc
	3,800	5.60%, 04/30/2049 (I)		2,356
	11,290	6.59%, 06/28/2049 (G)(I)(L)		7,000
		RBS-Zero Hora Editora Journalistica
BRL	4,100	11.25%, 06/15/2017 (H)		1,969
		Residential Capital Corp.
	6,435	5.65%, 06/09/2008 (L)		5,502
		TuranAlem Finance B.V.
	1,700	7.75%, 04/25/2013 (T)		1,426
	1,430	8.50%, 02/10/2015 (T)#		1,237
				88,231
		Foreign Governments — 0.6%
		Argentina (Republic of)
	8,830	7.00%, 10/03/2015 #		7,302
		Brazil (Republic of)
BRL	6,770	10.00%, 01/01/2017		3,010
		Panama (Republic of)
	4,550	9.38%, 07/23/2012		5,301
		Sri Lanka (Republic of)
	2,700	8.25%, 10/24/2012 (I)		2,626
		Venezuela (Republic of)
	8,100	5.75%, 02/26/2016 #		6,520
				24,759
		Health Care — 0.2%
		Reable Therapeutics Finance LLC
	3,410	11.75%, 11/15/2014		3,103
		Rite Aid Corp.
	8,525	9.50%, 06/15/2017 (G)		7,054
				10,157
		Services — 0.6%
		Echostar DBS Corp.
	8,850	6.38%, 10/01/2011		8,744
		Quebecor Media, Inc.
	8,925	7.75%, 03/15/2016 (I)		8,568
		Wynn Las Vegas LLC
	3,595	6.63%, 12/01/2014		3,532
	7,880	6.63%, 12/01/2014 (I)		7,742
				28,586
		Technology — 1.7%
		Advanced Micro Devices, Inc.
	9,270	6.00%, 05/01/2015 (I)(X)#		6,593
		Canwest MediaWorks L.P.
	6,395	9.25%, 08/01/2015 (G)(I)		6,259
		Charter Communications Operating LLC
	10,190	8.00%, 04/30/2012 (I)#		9,834
		Freescale Semiconductor, Inc.
	3,920	8.87%, 12/15/2014 (L)		3,332
	4,150	10.13%, 12/15/2016 (G)		3,424
		Intelsat Bermuda Ltd.
	8,670	9.25%, 06/15/2016 #		8,713
		Level 3 Financing, Inc.
	6,950	12.25%, 03/15/2013 (G)#		7,020
		MetroPCS Wireless, Inc.
	7,980	9.25%, 11/01/2014		7,501
		Spansion LLC
	8,400	8.25%, 06/01/2013 (I)(L)#		7,560
		Vimpel Communications
	8,125	8.25%, 05/23/2016 (I)#		8,125
		Windstream Corp.
	9,220	8.63%, 08/01/2016 #		9,681
				78,042
		Transportation — 0.1%
		Bristow Group, Inc.
	6,255	7.50%, 09/15/2017 (I)#		6,286
		Roadway Corp.
	325	8.25%, 12/01/2008 #		330
				6,616
		Utilities — 0.3%
		Energipe Y Saelpa
	3,715	10.50%, 07/19/2013 (H)		4,031
		Energy Future Holdings
	5,600	10.88%, 11/01/2017 (I)		5,628

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

­ ­  44  ­ ­

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal			Market
Amount			Value (W)
CORPORATE BONDS: NON-INVESTMENT GRADE — (continued)
		Utilities — (continued)
		Texas Competitive Electric Co.
$	5,600	10.25%, 11/01/2015 (I)	$	5,544
				15,203
		Total corporate bonds: non-investment grade (cost $366,133)	$	346,334
MUNICIPAL BONDS — 0.2%
		General Obligations — 0.2%
		Oregon School Boards Association, Taxable Pension
$	7,325	4.76%, 06/30/2028 #	$	6,738
		Housing (HFA’S, etc.) — 0.0%
		Industry Urban DA
	275	6.10%, 05/01/2024 #		281
		Total municipal bonds (cost $7,606)	$	7,019
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE (V) — 5.4%
		Basic Materials — 0.6%
		Georgia-Pacific Corp.
$	9,716	6.87%, 02/14/2013 (N)	$	9,248
		Graham Packaging Co., Inc.
	2,711	7.50%, 04/03/2014 (N)		2,599
		Huntsman International LLC
	6,358	6.62%, 04/23/2014 (N)		6,229
		ISP Chemco LLC
	1,751	6.78%, 05/31/2014 (N)		1,667
		Jarden Corp.
	7,767	7.33%, 01/24/2012 (N)		7,553
				27,296
		Consumer Cyclical — 1.0%
		Aramark Corp., Letter of Credit
	229	6.71%, 01/19/2014 (AA)(Q)		217
		Aramark Corp., Term Loan B
	3,206	6.71%, 01/19/2014 (AA)(Q)		3,046
		Delphi Corp.
	3,820	9.125%, 07/01/2008		3,802
		Ford Motor Co.
	29,319	8.00%, 12/15/2013 (N)#		27,089
		Masonite International Corp., Canadian Term Loan
	1,398	7.03%, 04/30/2010 (N)#		1,270
		Masonite International Corp., U.S. Term Loan
	1,399	7.03%, 04/30/2010 (N)#		1,268
		Oshkosh Trucking Corp.
	1,839	6.65%, 12/06/2013 (N)#		1,728
		Roundy’s Supermarkets, Inc.
	696	7.91%, 11/03/2011 (N)#		682
		William Carter Co.
	6,281	6.43%, 07/14/2012 (N)#		6,061
				45,163
		Consumer Staples — 0.1%
		Dole Food Co., Inc.
	230	7.11%, 04/12/2013 (AA)#		212
	508	7.16%, 04/12/2013 (N)#		472
	1,694	7.22%, 04/12/2013 (N)#		1,569
				2,253
		Energy — 0.0%
		Big West Oil LLC
	898	6.95%, 02/02/2015 (AA)(Q)		872
	727	7.10%, 02/02/2015 (N)#		706
				1,578
		Finance — 0.6%
		Chrysler Financial Services NA
	2,643	9.00%, 08/03/2012 (N)#		2,536
	3,600	11.40%, 08/03/2013 (N)#		3,174
		Community Health Systems, Inc.
	619	6.95%, 07/02/2014 (AA)(Q)		595
		Community Health Systems, Inc.
	9,258	7.33%, 07/02/2014 (N)(Q)		8,904
		Crescent Resources LLC
	7,670	8.03%, 09/07/2012 (N)#		6,807
		General Growth Properties, Inc.
	3,197	6.50%, 02/24/2010 (N)#		3,037
				25,053
		Health Care — 0.3%
		Carestream Health, Inc.
	5,634	7.00%, 04/12/2013 (N)#		5,169
		HCA, Inc.
	3,427	6.33%, 11/14/2012 (N)		3,248
	4,502	7.08%, 11/17/2013 (N)#		4,325
		IASIS Healthcare Capital Corp.
	2,048	7.06%, 01/15/2014 (N)		1,941
		IASIS Healthcare Capital Corp., Delayed Draw Term Loan
	705	7.15%, 03/15/2014 (N)(Q)		667
		IASIS Healthcare Capital Corp., Term Loan
	188	6.90%, 03/15/2014 (AA)		178
				15,528
		Services — 2.1%
		Cedar Fair L.P.
	2,349	7.00%, 07/21/2013 (N)#		2,220
		CSC Holdings, Inc.
	3,895	6.90%, 03/24/2013 (N)#		3,677
		Gray Television, Inc.
	3,391	6.73%, 12/31/2014 (N)		3,145
		Harrah’s Entertainment, Inc.
	17,000	6.20%, 03/05/2008 (AA)(Q)		16,490
		Idearc, Inc.
	4,035	6.33%, 11/17/2013 (N)#		3,785
	4,821	6.83%, 11/17/2014 (N)		4,581
		inVentiv Health, Inc.
	2,633	6.58%, 07/05/2014 (N)		2,482
		Metavante Corp.
	3,000	6.66%, 10/31/2014 (N)		2,917
		MGM Mirage, Inc.
	8,351	6.36%, 10/03/2011 (N)#		7,878
		R.H. Donnelley, Inc.
	6,921	6.51%, 06/30/2011 (N)#		6,691

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

­ ­  45  ­ ­

Principal			Market
Amount			Value (W)
SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE (V) — (continued)
		Services — (continued)
		Regal Cinemas, Inc.
$	7,289	6.33%, 10/27/2013 (N)#	$	6,893
		SunGard Data Systems, Inc.
	2,414	6.90%, 08/08/2012 (N)#		2,327
		Tribune Co.
	8,076	9.20%, 05/23/2015 (AA)(Q)		6,784
		UPC Financing Partnership
	7,053	7.13%, 12/31/2014 (N)		6,668
		Weight Watchers International, Inc.
	3,014	6.13%, 01/24/2013 (N)#		2,908
		West Corp.
	4,939	7.30%, 10/23/2013 (N)#		4,695
		WideOpenWest Finance LLC
	10,750	11.09%, 07/01/2015 (N)#		9,675
				93,816
		Technology — 0.4%
		Cincinnati Bell, Inc.
	2,337	6.74%, 08/31/2012 (N)#		2,269
		Mediacom Broadband LLC, Term Loan D1
	7,000	6.69%, 01/31/2015 (N)#		6,485
		Mediacom Broadband LLC, Term Loan D2
	5,501	6.69%, 01/31/2015 (N)		5,075
		Mediacom LLC
	2,036	6.69%, 01/31/2015 (N)#		1,889
				15,718
		Utilities — 0.3%
		Mirant North America LLC
	3,600	6.60%, 01/03/2013 (N)#		3,433
		NRG Energy, Inc.
	1,884	6.48%, 02/01/2013 (N)#		1,784
	4,080	6.58%, 06/08/2013 (N)		3,884
		Texas Competitive Electric Co.
	3,200	8.40%, 10/31/2014 (N)		3,138
		Texas Competitive Electric Holdings Co. LLC
	3,200	8.40%, 10/24/2014 (N)		3,138
				15,377
		Total senior floating rate interests: non-investment grade (cost $254,821)	$	241,782
U.S. GOVERNMENT AGENCIES — 38.0%
		Federal Home Loan Mortgage Corporation — 17.5%
		Mortgage Backed Securities:
$	14,967	5.03%, 2035 (L)#	$	14,966
	27,819	5.40%, 2037 (L)#		28,067
	4,202	5.45%, 2036 (L)#		4,218
	236,353	5.50%, 2037		235,642
	57,571	5.50%, 2018 — 2037 #		57,475
	20,545	5.50%, 2038 (Q)		20,500
	5,658	5.83%, 2036 (L)#		5,743
	160,305	6.00%, 2037		162,702
	78,067	6.00%, 2017 — 2035 #		79,385
	61,900	6.50%, 2037		63,629
	6	6.50%, 2031 — 2032 #		5
	46,684	6.50%, 2037 — 2038 (Q)		47,985
	10	7.50%, 2029 — 2031 #		10
				720,327
		Notes:
	21,000	4.10%, 2014 #		21,002
		Remic — Pac’s:
	47,165	5.00%, 2034		45,543
				786,872
		Federal National Mortgage Association — 15.9%
		Mortgage Backed Securities:
	3,610	4.67%, 2034 (L)		3,558
	9,308	4.70%, 2035 (L)		9,214
	4,083	4.71%, 2035 (L)		4,061
	7,792	4.76%, 2035 (L)		7,781
	2,919	4.81%, 2035 (L)		2,910
	23,675	4.83%, 2036 (L)		23,650
	5,032	4.86%, 2035 (L)		5,008
	3,804	4.90%, 2035 (L)		3,833
	9,846	4.94%, 2035 (L)		9,958
	280,525	5.00%, 2018 — 2034		276,536
	13,886	5.00%, 2018 #		13,920
	6,619	5.08%, 2035 (L)		6,638
	123,547	5.50%, 2013 — 2037		123,093
	37,752	5.50%, 2020 — 2034 #		37,943
	10,812	5.51%, 2036 (L)		10,870
	107,357	6.00%, 2013 — 2036		109,115
	7,419	6.00%, 2012 — 2033 #		7,570
	9,941	6.50%, 2017 — 2036		10,241
	181	6.50%, 2014 — 2032 #		188
	37,981	6.50%, 2037 (Q)		39,042
	8,595	7.00%, 2032 — 2037		8,941
	18	7.00%, 2016 — 2032 #		18
	654	7.50%, 2022 — 2031		698
	476	7.50%, 2015 — 2032 #		510
	2	8.00%, 2032		2
		Notes:
	250	5.44%, 2009 (G)(L)		248
				715,546

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

­ ­  46  ­ ­

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Principal			Market
Amount			Value (W)
U.S. GOVERNMENT AGENCIES — (continued)
		Government National Mortgage Association — 3.1%
		Mortgage Backed Securities:
$	26,776	5.50%, 2033 — 2034 #	$	26,903
	49,809	6.00%, 2037		50,831
	40,031	6.00%, 2031 — 2036 #		40,934
	5,581	6.50%, 2028 — 2032		5,788
	13,730	6.50%, 2028 — 2032 #		14,238
	9	7.00%, 2031		9
	59	7.00%, 2030 — 2031 #		62
	10	8.50%, 2024 #		11
				138,776
		Other Government Agencies — 1.5%
		Small Business Administration Participation Certificates:
	21,128	5.56%, 2027		21,662
	22,750	5.57%, 2027		23,302
	21,426	5.78%, 2027 #		22,196
				67,160
		Total U.S. government agencies (cost $1,690,704)	$	1,708,354
U.S. GOVERNMENT SECURITIES — 2.9%
		Other Direct Federal Obligations — 0.3%
		Federal Home Loan Bank:
$	15,885	5.25%, 2008 #	$	15,972
		U.S. Treasury Securities — 2.6%
		U.S. Treasury Bonds:
	13,957	4.75%, 2037 (G)		14,607
	27,405	5.00%, 2037 (G)		29,869
				44,476
		U.S. Treasury Notes:
	360	3.38%, 2012 (G)		359
	640	3.63%, 2009 (G)		646
	69,950	3.88%, 2012 (G)		71,322
				72,327
				116,803
		Total U.S. government securities (cost $132,099)	$	132,775
Shares
COMMON STOCK — 0.0%
		Technology — 0.0%
	—	XO Holdings, Inc. (D)(G)(H)	$	—
		Total common stock (cost $— )	$	—
WARRANTS — 0.0%
		Technology — 0.0%
	—	XO Holdings, Inc. (D)(H)	$	—
		Total warrants (cost $— )	$	—
PREFERRED STOCK — 0.5%
		Finance — 0.5%
	340	Federal Home Loan Mortgage Corp.		8,882
	592	Federal National Mortgage Association		15,255
		Total preferred stock (cost $23,359)		24,137
		Total long-term investments (cost $4,285,307)	$	4,220,414
Principal
Amount
SHORT-TERM INVESTMENTS — 10.2%
		Finance — 6.1%
		American Express Credit Corp.
$	10,000	4.20%, 01/03/2008	$	9,996
		BNP Paribas Finance
	30,000	3.60%, 01/02/2008		29,993
		Deutsche Bank
	30,000	3.75%, 01/02/2008		29,994
		Federal Home Loan Bank
	45,000	4.33%, 01/02/2008		44,992
		Federal Home Loan Mortgage Corp.
	45,000	4.27%, 01/07/2008		44,963
		Federal National Mortgage Association
	45,000	4.28%, 01/07/2008 (G)		44,962
		Rabobank USA
	30,000	4.35%, 01/02/2008		29,993
		Societe Generale
	10,000	3.60%, 01/02/2008		9,998
		UBS Finance LLC
	30,000	4.23%, 01/02/2008		29,993
				274,884
Shares
		Investment Pools and Funds — 0.0%
	935	State Street Bank Money Market Fund		935
Principal
Amount
		Repurchase Agreements — 0.0%
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,449, collateralized by U.S. Treasury Note 3.63%, 2012, value of $1,484)
$	1,449	1.30% dated 12/31/2007		1,449
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2008 in the amount of $1,413, collateralized by U.S. Treasury Note 3.38% — 12.50%, 2009 — 2014, value of $1,444)
	1,413	1.25% dated 12/31/2007		1,413
				2,862

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

­ ­  47  ­ ­

					Market
Shares					Value (W)
		Securities Purchased with Proceeds from Security Lending — 3.9%
		Cash Collateral Reinvestment Fund:
	173,748	Navigator Prime Portfolio				173,748
Principal
Amount
		U.S. Treasury Bills — 0.2%
$	8,050	2.83%, 03/13/2008 (M)(S)				8,002
		Total short-term investments (cost $460,434)			$	460,431
		Total investments (cost $4,745,741) (C)	104.1	%	$	4,680,845
		Other assets and liabilities	(4.1	)%		(185,805	)
		Total net assets	100.0	%	$	4,495,040

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 9.37% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $4,747,081 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	49,418
Unrealized Depreciation		(115,654	)
Net Unrealized Depreciation	$	(66,236	)

#	This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.
(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $1,417, which represents 0.03% of total net assets.
(AA)	The interest rate disclosed for these securities represents an estimated average coupon as of December 31, 2007.
(D)	Currently non-income producing. For long-term debt securities, items identified are in default as to payment of interest and/or principal.
(G)	Security is partially on loan at December 31, 2007.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $439,503, which represents 9.78% of total net assets.
(T)	Securities contain some restrictions as to public resale. These securities comply with Regulation S, rules governing offers and sales made outside the United States without registration under the Securities Act of 1933, and are determined to be liquid. At December 31, 2007, the market value of these securities amounted to $25,242 or 0.56% of net assets.
(L)	Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2007.
(M)	The interest rate disclosed for these securities represents the effective yield on the date of acquisition.
(N)	The interest rate disclosed for these securities represents the average coupon as of December 31, 2007.
(B)	The interest rates disclosed for interest only strips represent effective yields based upon estimated future cash flows at December 31, 2007.
(Q)	The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2007 was $139,067.
(V)	Senior loans in which the Fund invests generally pay interest rates which are periodically adjusted by reference to a base short-term, floating lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the London Inter-Bank Offered Rate (LIBOR), (ii) the prime rate offered by one or more major United States Banks, or (iii) the bank’s certificate of deposit rate. Senior floating rate interests often require prepayments from excess cash flows or permit the borrower to repay at its election. The rate at which the borrower repays cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. The interest rate indicated is the rate in effect at December 31, 2007.
(X)	Convertible security.
(B)	All principal amounts are in U.S. dollars unless otherwise indicated.

AUD	— Australian Dollar
BRL	— Brazilian Real
CAD	— Canadian Dollar
JPY	— Japanese Yen
TRY	— Turkish New Lira

(H) The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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
10/2006		9,450	ACT Depositor Corp., 5.42%, 09/22/2041 - 144A	$	9,199
04/2003		75	Americo Life, Inc., 7.88%, 05/01/2013 - 144A		74
03/2005		90,957	Banc of America Commercial Mortgage, Inc., 4.52%, 09/11/2036 - 144A		2,248
08/2006		5,880	Banc of America Securities Automotive Trust, 4.49%, 02/18/2013		5,845
05/2007		48,991	Bayview Commercial Asset Trust, 7.00%, 07/25/2037 - 144A		7,001
08/2007		80,017	Bayview Commercial Asset Trust, 7.50%, 09/25/2037 - 144A		11,034
04/2007		4,430	Bayview Financial Acquisition Trust, 6.45%, 05/28/2037		4,430
10/2004		69,427	Bear Stearns Commercial Mortgage Securities, Inc., 4.07%, 07/11/2042		1,936
12/2004		54,131	Bear Stearns Commercial Mortgage Securities, Inc., 4.12%, 11/11/2041		1,319
05/2005 –		128,539	Bear Stearns Commercial Mortgage
11/2006			Securities, Inc., 5.50%, 02/11/2041 - 144A		2,638

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

­ ­  48  ­ ­

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Period
Acquired	Shares/Par		Security	Cost Basis
09/2007		9,825	Capital One Capital III, 7.64%, 08/15/2036	$	9,098
04/2006 –		132,713	CBA Commercial Small Balance
08/2007			Commercial Mortgage, 7.00%, 07/25/2035 — 06/25/2038 - 144A		8,315
05/2003		250	Centura Capital Trust I, 8.85%, 06/01/2027 - 144A		261
05/2007		8,420	Corpoacion Andina De Fomento, 5.75%, 01/12/2017		8,414
07/2007		3,326	Credit-Based Asset Servicing and Securitization LLC, 5.14%, 05/25/2036 - 144A		3,248
11/2006 – 06/2007		6,555	Drummond Co., Inc., 7.38%, 02/15/2016 - 144A		6,421
04/2007 – 05/2007		3,715	Energipe Y Saelpa, 10.50%, 07/19/2013 - 144A		4,138
06/2006		9,270	GE Business Loan Trust, 6.03%, 05/15/2034 - 144A		9,270
06/2006		285,821	GE Business Loan Trust, 6.14%, 05/15/2034 - 144A		2,218
07/2004		159,711	Goldman Sachs Mortgage Securities Corp. II, 4.38%, 08/10/2038 - 144A		1,239
03/2007		7,575	Home Equity Asset Trust, 5.82%, 07/25/2037		7,560
06/2007		18,425	Janus Capital Group, Inc., 6.70%, 06/15/2017		18,377
03/2007		1,675	JP Morgan Automotive Receivable Trust, 12.85%, 03/15/2012		1,675
03/2005		630,354	JP Morgan Chase Commercial Mortgage Security Corp., 4.82%, 08/12/2037		1,802
09/2006		463,055	JP Morgan Chase Commercial Mortgage Security Corp., 5.42%, 05/12/2045		9,991
10/2007		2,990	LPL Holdings, Inc., 10.75%, 12/15/2015 - 144A		3,106
07/2005		4,709	Mashantucket Western Pequot Revenue Bond, 5.91%, 09/01/2021 - 144A		4,709
11/2004		61,392	Merrill Lynch Mortgage Trust, 3.96%, 10/12/2041 - 144A		1,636
06/2005		231,369	Merrill Lynch Mortgage Trust, 4.57%, 06/12/2043		5,433
10/2005 – 08/2006		23,227	Morgan Stanley Dean Witter Capital I, 0.46%, 08/25/2032 - Reg D		326
04/2007		1,517	Nationstar Home Equity Loan Trust, 9.97%, 03/25/2037 - 144A		1,517
11/2006		3,900	North Street Referenced Linked Notes, 6.03%, 07/30/2010 - 144A		3,475
05/2007		11,208	Northgroup Preferred Capital Corp., 6.38%, 10/15/2049 - 144A		11,208
11/2006 – 12/2006		4,235	OJSC Myronivsky Hliboproduct, 10.25%, 11/30/2011 - 144A		4,248
03/2007		3,875	Option One Mortgage Loan Trust — Class M6, 6.99%, 03/25/2037		3,743
03/2007		2,575	Option One Mortgage Loan Trust — Class M7, 6.99%, 03/25/2037		2,235
03/2007		2,525	Option One Mortgage Loan Trust — Class M8, 6.99%, 03/25/2037		1,989
03/2007		9,800	PNC Preferred Funding Trust II, 6.11%, 03/15/2049 -144A		9,800
10/2001 – 11/2001		12,100	Potlatch Corp., 13.00%, 12/01/2009		12,497
10/2007		4,100	RBS-Zero Hora Editora Journalistica, 11.25%, 06/15/2017 - Reg S		2,121
03/2005		4,670	Renaissance Home Equity Loan Trust, 5.36%, 05/25/2035		4,670
03/2006		6,480	Renaissance Home Equity Loan Trust, 5.75%, 05/25/2036		6,480
03/2007		2,800	Renaissance Home Equity Loan Trust, 7.50%, 04/25/2037		2,533
08/2007		4,300	Renaissance Home Equity Loan Trust Class M5, 7.00%, 09/25/2037		3,227
08/2007		5,375	Renaissance Home Equity Loan Trust Class M8, 7.00%, 09/25/2037		2,958
02/2007		950	Soundview NIM Trust, 6.41%, 12/25/2036 - 144A		947
02/2004		55,509	Wachovia Bank Commercial Mortgage Trust, 3.65%, 02/15/2041 - 144A		1,260
08/2007		2,089,803	Wachovia Bank Commercial Mortgage Trust, 10.00%, 02/15/2051		3,503
06/2007		19,570	Wamu Commercial Mortgage Securities Trust, 6.31%, 03/23/2045 - 144A		19,495
05/2006		—	XO Holdings, Inc.		—
05/2006		—	XO Holdings, Inc. Warrants		—

	The aggregate value of these securities at December 31, 2007 was $225,478 which represents 5.02% of total net assets.
(S)	Security pledged as initial margin deposit for open futures contracts at December 31, 2007.
	Futures Contracts Outstanding at December 31, 2007

							Unrealized
	Number of				Expiration		Appreciation/
Description	Contracts*		Position		Month		(Depreciation)
2 Year U.S. Treasury Note		4,626		Long		Mar 2008	$	2,338
5 Year U.S. Treasury Note		6,013		Long		Apr 2008		1,514
10 Year U.S. Treasury Note		1,098		Long		Mar 2008		230
U.S. Long Bond		2,902		Short		Mar 2008		1,116
							$	5,198

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

DA — Development Authority

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

­ ­  49  ­ ­

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Brazilian Real (Buy)	$	9,588	$	8,661		02/29/08	$	927
Brazilian Real (Sell)		9,588		9,356		02/29/08		(232	)
Chilean Peso (Buy)		8,845		8,855		04/16/08		(10	)
Chilean Peso (Sell)		8,845		8,752		04/16/08		(93	)
Colombian Peso (Buy)		8,886		8,820		03/27/08		66
Colombian Peso (Sell)		8,886		8,799		03/27/08		(87	)
Egyptian Pound (Buy)		8,984		8,820		03/27/08		164
Egyptian Pound (Sell)		8,984		8,870		03/27/08		(114	)
Japanese Yen (Buy)		44,728		44,995		01/10/08		(267	)
Japanese Yen (Sell)		44,728		45,030		01/10/08		302
Japanese Yen (Buy)		9,554		9,434		01/15/08		120
Japanese Yen (Sell)		44,743		44,604		01/15/08		(139	)
Japanese Yen (Buy)		44,748		44,152		01/16/08		596
Japanese Yen (Sell)		44,748		44,579		01/16/08		(169	)
Mexican Peso (Buy)		8,809		8,850		04/16/08		(41	)
Mexican Peso (Sell)		8,809		8,824		04/16/08		15
Turkish New Lira (Sell)		4,877		4,721		01/29/08		(156	)
							$	882

Credit Default Swap Agreements Outstanding at December 31, 2007

											Unrealized
	Reference	Buy/Sell		Pay/Receive			Expiration		Notional		Appreciation/
CounterParty	Entity	Protection		Fixed Rate			Date		Amount		(Depreciation)
Lehman Brothers Special Financing, Inc.	Lehman ABX Index		Sell		0.32	%		07/25/45	$	14,800	$	(247	)
JP Morgan Chase Bank	Residential Capital LLC		Sell		5.75	%		09/20/08		10,500		(1,698	)
											$	(1,945	)

Interest Rate Swap Agreements Outstanding at December 31, 2007

	Payments	Payments					Unrealized
	made	received	Expiration		Notional		Appreciation/
CounterParty	by Fund	by Fund	Date		Amount		(Depreciation)
Lehman Brothers Special Financing, Inc.	5.22% Fixed	3 Month Libor		12/19/37	$	73,000	$	(1,453	)
Lehman Brothers Special Financing, Inc.	3 Month Libor	4.18% Fixed		12/18/09		588,000		2,914
Lehman Brothers Special Financing, Inc.	3 Month Libor	4.14% Fixed		12/19/09		588,000		2,438
Lehman Brothers Special Financing, Inc.	3 Month Libor	5.12% Fixed		06/11/10		43,500		143
Lehman Brothers Special Financing, Inc.	5.07% Fixed	3 Month Libor		06/11/18		10,540		(127	)
Lehman Brothers Special Financing, Inc.	5.24% Fixed	3 Month Libor		12/18/37		73,000		(1,704	)
							$	2,211

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  50  ­ ­

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­ ­  51  ­ ­

Hartford Series Fund, Inc.

Statements of Assets and Liabilities
December 31, 2007
(000’s Omitted)

	Hartford			Hartford
	Advisers			Capital Appreciation
	HLS Fund			HLS Fund
Assets:
Investments in securities, at value; (amortized cost for Money Market) @	$	8,025,715		$	16,216,259
Cash		76,348			47,950
Foreign currency on deposit with custodian #		19			2,417
Unrealized appreciation on forward foreign currency contracts		557			241
Unrealized appreciation on swap contracts		—			—
Receivables:
Investment securities sold		39,627			353,249
Fund shares sold		1,289			5,368
Dividends and interest		30,947			13,537
Variation margin		—			—
Other assets		15			27
Total assets		8,174,517			16,639,048
Liabilities:
Unrealized depreciation on forward foreign currency contracts		152			9,106
Unrealized depreciation on swap contracts		—			—
Payable upon return of securities loaned (Note 2d)		755,680			1,166,436
Payables:
Investment securities purchased		37,632			384,909
Fund shares redeemed		8,110			17,952
Variation margin		—			—
Investment management and advisory fees (Note 3)		491			1,077
Administrative fee		243			500
Distribution fees (Note 3)		45			122
Accrued expenses		690			1,207
Written options		—			—
Total liabilities		803,043			1,581,309
Net assets	$	7,371,474		$	15,057,739
Summary of Net Assets:
Capital stock and paid-in-capital	$	7,255,087		$	12,231,276
Accumulated undistributed (distribution in excess of) net investment income (loss)		11,397			20,323
Accumulated net realized gain (loss) on investments and foreign currency transactions		(3,804	)		1,104,869
Unrealized appreciation (depreciation) of investments and the translations of assets and liabilities denominated in foreign currency		108,794			1,701,271
Net assets	$	7,371,474		$	15,057,739
Shares authorized		9,500,000			5,000,000
Par value	$	0.001		$	0.001
Class IA: Net asset value per share	$	20.97		$	52.46
Shares outstanding		299,943			231,124
Net assets	$	6,291,220		$	12,123,834
Class IB: Net asset value per share	$	21.18		$	52.01
Shares outstanding		51,000			56,408
Net assets	$	1,080,254		$	2,933,905
@ Cost of securities	$	7,917,438		$	14,506,012
@ Market value of securities on loan	$	749,827		$	1,121,183
# Cost of foreign currency on deposit with custodian	$	18		$	2,429

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

­ ­  52  ­ ­

Hartford		Hartford											Hartford
Dividend and		International			Hartford		Hartford			Hartford			Total Return
Growth		Opportunities			Money Market		Small Company			Stock			Bond
HLS Fund		HLS Fund			HLS Fund		HLS Fund			HLS Fund			HLS Fund
$	7,487,779	$	2,772,026		$	2,683,886	$	1,976,162		$	4,734,390		$	4,680,845
	1		9,884			406		3,466			42			27
	—		751			—		—			6			3,116
	—		12			—		—			529			2,190
	—		—			—		—			—			5,495
	29,925		28,121			—		564			36,856			90,799
	4,281		739			4,588		906			1,031			2,908
	8,502		1,277			4,003		1,177			3,719			37,386
	—		—			—		2			—			3,950
	14		4			26		3			9			8
	7,530,502		2,812,814			2,692,909		1,982,280			4,776,582			4,826,724
	—		300			—		—			144			1,308
	—		—			—		—			—			5,229
	—		330,750			—		312,815			172,270			173,748
	154,323		34,030			—		2,085			35,634			144,031
	25,051		3,045			15,463		61,825			5,859			4,660
	5,580		—			—		23			—			1,995
	—		186			104		128			196			191
	533		81			88		55			151			147
	244		17			18		14			27			42
	62		184			136		116			418			333
	558		—			—		—			—			—
	186,351		368,592			15,809		377,061			214,699			331,684
$	7,344,151	$	2,444,222		$	2,677,100	$	1,605,219		$	4,561,883		$	4,495,040
$	5,844,567	$	2,004,621		$	2,677,100	$	1,444,116		$	4,496,439		$	4,568,890
	6,911		(1,273	)		—		(161	)		5,586			12,254
	119,943		73,199			—		(6,811	)		(19,689	)		(27,663	)
	1,372,730		367,675			—		168,075			79,547			(58,441	)
$	7,344,151	$	2,444,222		$	2,677,100	$	1,605,219		$	4,561,883		$	4,495,040
	4,000,000		2,625,000			7,000,000		1,500,000			4,000,000			5,000,000
$	0.001	$	0.001		$	0.001	$	0.001		$	0.001		$	0.001
$	22.35	$	15.62		$	1.00	$	18.62		$	47.11		$	11.15
	261,458		129,770			2,224,124		69,422			82,972			310,315
$	5,842,788	$	2,027,078		$	2,224,124	$	1,292,444		$	3,909,045		$	3,458,709
$	22.28	$	15.78		$	1.00	$	18.20		$	47.00		$	11.09
	67,395		26,436			452,976		17,182			13,891			93,425
$	1,501,363	$	417,144		$	452,976	$	312,775		$	652,838		$	1,036,331
$	6,115,049	$	2,404,304		$	2,683,886	$	1,808,145		$	4,655,334		$	4,745,741
$	149,141	$	313,408		$	—	$	301,504		$	167,110		$	173,138
$	—	$	741		$	—	$	—		$	6		$	3,034

­ ­  53  ­ ­

Hartford Series Fund, Inc.

Statements of Operations
For the Year Ended December 31, 2007
(000’s Omitted)

				Hartford
	Hartford			Capital
	Advisers			Appreciation
	HLS Fund			HLS Fund
Investment Income:
Dividends	$	79,262		$	187,945
Interest		141,454			14,367
Securities lending		3,254			4,144
Less: Foreign tax withheld		(1,835	)		(8,620	)
Total investment income, net		222,135			197,836
Expenses:
Investment management and advisory fees		32,359			64,244
Administrative services fees		16,074			29,821
Distribution fees — Class IB		2,976			7,248
Custodian fees		45			388
Accounting services		1,206			2,237
Board of Directors’ fees		158			277
Other expenses		1,166			2,726
Total expenses (before waivers and fees paid indirectly)		53,984			106,941
Expense waivers		—			—
Commission recapture		(412	)		(894	)
Custodian fee offset		(28	)		(22	)
Total waivers and fees paid indirectly		(440	)		(916	)
Total expenses, net		53,544			106,025
Net investment income (loss)		168,591			91,811
Net Realized Gain on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net realized gain (loss) on investments		709,379			3,045,247
Net realized gain (loss) on futures, written options and swap contracts		4,171	#		1,031	#
Net realized gain (loss) on foreign currency transactions		(561	)		(59,936	)
Net Realized Gain on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:		712,989			2,986,342
Net Changes in Unrealized Appreciation of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net unrealized appreciation (depreciation) of investments		(348,887	)		(777,884	)
Net unrealized appreciation (depreciation) of futures, written options and swap contracts		—			—
Net unrealized appreciation (depreciation) on translation of other assets and liabilities in foreign currencies		516			(2,295	)
Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(348,371	)		(780,179	)
Net Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:		364,618			2,206,163
Payment from Affiliate (See Note 3h in accompanying Notes to Financial Statements)		—			—
Net Increase in Net Assets Resulting from Operations	$	533,209		$	2,297,974

#	Realized gains on written options were $4,171 and $1,031 for Hartford Advisers HLS Fund and Hartford Capital Appreciation HLS Fund, respectively.
‡	Realized gains on written options were $785.

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

­ ­  54  ­ ­

Hartford			Hartford
Dividend and			International			Hartford			Hartford			Hartford			Hartford
Growth			Opportunities			Money Market			Small Company			Stock			Total Return Bond
HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund
$	173,730		$	40,218		$	—		$	7,577		$	74,982		$	—
	4,030			2,173			119,143			1,677			1,069			246,760
	2,621			2,932			—			1,796			1,047			1,271
	(3,351	)		(5,857	)		—			(299	)		(1,692	)		—
	177,130			39,466			119,143			10,751			75,406			248,031
	32,743			10,028			5,525			7,423			13,088			11,203
	14,997			4,308			4,538			3,172			10,120			8,613
	3,998			987			970			827			1,826			2,629
	5			109			3			51			70			58
	1,125			323			340			238			759			646
	140			38			38			29			95			79
	1,131			417			324			264			786			671
	54,139			16,210			11,738			12,004			26,744			23,899
	—			—			(1,134	)		—			—			—
	(140	)		(65	)		—			(133	)		(382	)		—
	(5	)		(10	)		(2	)		(8	)		(26	)		(21	)
	(145	)		(75	)		(1,136	)		(141	)		(408	)		(21	)
	53,994			16,135			10,602			11,863			26,336			23,878
	123,136			23,331			108,541			(1,112	)		49,070			224,153
	612,843			445,416			52			177,327			590,830			(13,488	)
	—			—			—			(1,042	)		785	‡		28,428
	—			(942	)		—			(134	)		(521	)		13,865
	612,843			444,474			52			176,151			591,094			28,805
	(149,327	)		49,116			—			26,302			(328,506	)		(67,874	)
	—			—			—			53			—			4,752
	—			145			—			5			491			4,268
	(149,327	)		49,261			—			26,360			(328,015	)		(58,854	)
	463,516			493,735			52			202,511			263,079			(30,049	)
	—			—			—			3,000			—			—
$	586,652		$	517,066		$	108,593		$	204,399		$	312,149		$	194,104

­ ­  55  ­ ­

Hartford Series Fund, Inc.

Statements of Changes in Net Assets

(000’s Omitted)

	Hartford						Hartford
	Advisers HLS Fund						Capital Appreciation HLS Fund
	For the			For the			For the			For the
	Year Ended			Year Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,
	2007			2006			2007			2006
Operations:
Net investment income (loss)	$	168,591		$	194,320		$	91,811		$	110,029
Net realized gain (loss) on investments, futures, options and swap contracts and foreign currency transactions		712,989			734,695			2,986,342			1,770,577
Net unrealized appreciation (depreciation) of investments, futures, options and swap contracts and foreign currency transactions		(348,371	)		(64,033	)		(780,179	)		286,363
Payment from affiliate		—			6,804			—			11,567
Net increase in net assets resulting from operations		533,209			871,786			2,297,974			2,178,536
Distributions to Shareholders:
From net investment income
Class IA		(142,547	)		(166,222	)		(14,174	)		(151,317	)
Class IB		(21,144	)		(25,557	)		(1,723	)		(29,396	)
From net realized gain on investments
Class IA		(690,218	)		(516,571	)		(1,956,055	)		(1,436,633	)
Class IB		(118,127	)		(89,064	)		(475,949	)		(347,480	)
Total distributions		(972,036	)		(797,414	)		(2,447,901	)		(1,964,826	)
Capital Share Transactions:
Class IA
Sold		139,185			173,052			633,897			793,724
Issued on in-kind transactions		—			—			—			—
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		832,765			682,793			1,970,229			1,587,950
Redeemed		(1,512,219	)		(1,869,501	)		(2,115,211	)		(2,124,483	)
Total capital share transactions		(540,269	)		(1,013,656	)		488,915			257,191
Class IB
Sold		49,742			24,003			345,742			106,902
Issued on reinvestment of distributions		139,271			114,621			477,672			376,875
Redeemed		(298,662	)		(262,691	)		(662,081	)		(508,433	)
Total capital share transactions		(109,649	)		(124,067	)		161,333			(24,656	)
Net increase (decrease) from capital share transactions		(649,918	)		(1,137,723	)		650,248			232,535
Net increase (decrease) in net assets		(1,088,745	)		(1,063,351	)		500,321			446,245
Net Assets:
Beginning of period		8,460,219			9,523,570			14,557,418			14,111,173
End of period	$	7,371,474		$	8,460,219		$	15,057,739		$	14,557,418
Accumulated undistributed (distribution in excess of) net investment income	$	11,397		$	7,195		$	20,323		$	(2,872	)
Shares:
Class IA
Sold		5,936			7,509			11,027			14,540
Issued on in-kind transactions		—			—			—			—
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		39,579			30,245			37,635			30,179
Redeemed		(64,513	)		(80,891	)		(37,156	)		(38,693	)
Total share activity		(18,998	)		(43,137	)		11,506			6,026
Class IB
Sold		2,106			1,030			6,042			1,959
Issued on reinvestment of distributions		6,552			5,036			9,201			7,203
Redeemed		(12,626	)		(11,296	)		(11,659	)		(9,300	)
Total share activity		(3,968	)		(5,230	)		3,584			(138	)

(V)	Hartford International Opportunities HLS Fund merged with Hartford International Stock HLS Fund. (See Note 6 in the Notes to Financial Statements.)
(J)	During the year ended December 31, 2007, Hartford Small Company HLS Fund received in-kind subscriptions of securities from a shareholder in exchange for shares of this fund.

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

­ ­  56  ­ ­

Hartford						Hartford International						Hartford						Hartford
Dividend and Growth HLS Fund						Opportunities HLS Fund(V)						Money Market HLS Fund						Small Company HLS Fund
For the			For the			For the			For the			For the			For the			For the			For the
Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006
$	123,136		$	115,794		$	23,331		$	25,004		$	108,541		$	81,038		$	(1,112	)	$	2,224
	612,843			538,273			444,474			238,839			52			1			176,151			280,208
	(149,327	)		599,277			49,261			122,374			—			—			26,360			(107,789	)
	—			4,254			—			314			—			—			3,000			1,839
	586,652			1,257,598			517,066			386,531			108,593			81,039			204,399			176,482
	(97,796	)		(93,362	)		(21,053	)		(38,195	)		(90,770	)		(67,958	)		(2,999	)		(1,995	)
	(21,463	)		(22,067	)		(3,363	)		(4,186	)		(17,771	)		(13,080	)		—			(310	)
	(454,662	)		(395,906	)		(362,704	)		(118,052	)		(43	)		(1	)		(187,848	)		(166,251	)
	(119,019	)		(113,682	)		(75,930	)		(28,152	)		(9	)		—			(49,715	)		(46,960	)
	(692,940	)		(625,017	)		(463,050	)		(188,585	)		(108,593	)		(81,039	)		(240,562	)		(215,516	)
	593,091			575,385			229,936			293,361			2,394,176			1,780,507			270,005			351,795
	—			—			—			—			—			—			12,557	(J)		—
	—			—			99,957			—			—			—			—			—
	552,458			489,268			383,757			156,247			90,667			68,099			190,847			168,246
	(885,180	)		(859,340	)		(321,451	)		(260,149	)		(1,819,153	)		(1,644,009	)		(290,452	)		(372,191	)
	260,369			205,313			392,199			189,459			665,690			204,597			182,957			147,850
	129,203			76,057			49,416			56,023			503,545			300,900			85,328			127,914
	140,482			135,749			79,293			32,338			17,750			13,111			49,715			47,270
	(355,119	)		(259,525	)		(109,128	)		(68,392	)		(388,244	)		(258,125	)		(120,205	)		(77,994	)
	(85,434	)		(47,719	)		19,581			19,969			133,051			55,886			14,838			97,190
	174,935			157,594			411,780			209,428			798,741			260,483			197,795			245,040
	68,647			790,175			465,796			407,374			798,741			260,483			161,632			206,006
	7,275,504			6,485,329			1,978,426			1,571,052			1,878,359			1,617,876			1,443,587			1,237,581
$	7,344,151		$	7,275,504		$	2,444,222		$	1,978,426		$	2,677,100		$	1,878,359		$	1,605,219		$	1,443,587
$	6,911		$	3,359		$	(1,273	)	$	476		$	—		$	—		$	(161	)	$	—
	24,682			26,036			13,760			19,972			2,394,177			1,780,507			13,231			17,120
	—			—			—			—			—			—			614	(J)		—
	—			—			5,347			—			—			—			—			—
	24,780			21,722			25,242			10,497			90,667			68,099			10,324			8,874
	(36,858	)		(38,955	)		(19,373	)		(17,758	)		(1,819,153	)		(1,644,009	)		(14,477	)		(17,994	)
	12,604			8,803			24,976			12,711			665,691			204,597			9,692			8,000
	5,346			3,433			2,912			3,767			503,545			300,900			4,302			6,160
	6,314			6,046			5,158			2,139			17,750			13,111			2,744			2,541
	(14,854	)		(11,758	)		(6,533	)		(4,647	)		(388,245	)		(258,125	)		(6,155	)		(3,776	))
	(3,194	)		(2,279	)		1,537			1,259			133,050			55,886			891			4,925

­ ­  57  ­ ­

Hartford Series Fund, Inc.

Statements of Changes in Net Assets — (continued)

(000’s Omitted)

	Hartford						Hartford
	Stock HLS Fund						Total Return Bond HLS Fund
	For the			For the			For the			For the
	Year Ended			Year Ended			Year Ended			Year Ended
	December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006
Operations:
Net investment income (loss)	$	49,070		$	65,537		$	224,153		$	185,710
Net realized gain (loss) on investments, futures, options and swap contracts and foreign currency transactions		591,094			646,070			28,805			(23,745	)
Net unrealized appreciation (depreciation) of investments, futures, options and swap contracts and foreign currency transactions		(328,015	)		(4,441	)		(58,854	)		22,008
Payment from affiliate		—			5,820			—			107
Net increase in net assets resulting from operations		312,149			712,986			194,104			184,080
Distributions to Shareholders:
From net investment income
Class IA		(41,670	)		(57,414	)		(179,134	)		(146,134	)
Class IB		(5,163	)		(7,809	)		(51,864	)		(46,861	)
From net realized gain on investments
Class IA		(578,175	)		(250,786	)		—			(400	)
Class IB		(97,285	)		(42,418	)		—			(149	)
Total distributions		(722,293	)		(358,427	)		(230,998	)		(193,544	)
Capital Share Transactions:
Class IA
Sold		115,886			162,487			664,704			692,109
Issued on in-kind transactions		—			—			—			—
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		619,845			308,200			179,134			146,535
Redeemed		(972,979	)		(1,065,093	)		(396,537	)		(533,586	)
Total capital share transactions		(237,248	)		(594,406	)		447,301			305,058
Class IB
Sold		31,937			33,536			160,718			114,885
Issued on reinvestment of distributions		102,448			50,227			51,864			47,010
Redeemed		(181,913	)		(144,888	)		(209,678	)		(189,475	)
Total capital share transactions		(47,528	)		(61,125	)		2,904			(27,580	)
Net increase (decrease) from capital share transactions		(284,776	)		(655,531	)		450,205			277,478
Net increase (decrease) in net assets		(694,920	)		(300,972	)		413,311			268,014
Net Assets:
Beginning of period		5,256,803			5,557,775			4,081,729			3,813,715
End of period	$	4,561,883		$	5,256,803		$	4,495,040		$	4,081,729
Accumulated undistributed (distribution in excess of) net investment income	$	5,586		$	4,252		$	12,254		$	4,639
Shares:
Class IA
Sold		2,114			3,194			58,227			61,030
Issued on in-kind transactions		—			—			—			—
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		12,999			5,888			16,235			13,029
Redeemed		(17,700	)		(20,812	)		(34,707	)		(47,107	)
Total share activity		(2,587	)		(11,730	)		39,755			26,952
Class IB
Sold		584			656			14,160			10,191
Issued on reinvestment of distributions		2,152			962			4,722			4,198
Redeemed		(3,313	)		(2,835	)		(18,438	)		(16,792	)
Total share activity		(577	)		(1,217	)		444			(2,403	)

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

­ ­  58  ­ ­

Hartford Series Fund, Inc.

Notes to Financial Statements

December 31, 2007

(000’s Omitted)

1.  Organization:

The Hartford HLS Funds serve as underlying investment options for certain variable annuity and variable life insurance separate accounts of Hartford Life Insurance Company and its affiliates (“HLIC”) and certain qualified retirement plans. Certain Hartford HLS Funds may also serve as underlying investment options for certain variable annuity and variable life separate accounts of other insurance companies. Owners of variable annuity contracts and policyholders of variable life insurance contracts may choose the funds permitted in the accompanying variable insurance contract prospectus. In addition, participants in certain qualified retirement plans may choose the funds permitted by their plans.

Hartford Series Fund, Inc. (the “Company”) is an open-end management investment company comprised of twenty-six portfolios (each a “Fund” or together the “Funds”) (eight are included in these financial statements; they are Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford Money Market HLS Fund, Hartford Small Company HLS Fund, Hartford Stock HLS Fund and Hartford Total Return Bond HLS Fund). The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”), as a diversified open-end management investment company.

Each Fund is divided into Class IA and Class IB shares. Each class is offered at Net Asset Value (“NAV”) without a sales charge and is subject to the same expenses, except that the Class IB shares are subject to distribution fees charged pursuant to Distributions and Service Plans. These Distribution and Service Plans have been adopted in accordance with Rule 12b-1 of the 1940 Act.

Effective October 12, 2007, Hartford International Stock HLS Fund was merged into Hartford International Opportunities HLS Fund.

Indemnifications:  Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland Corporate Law and the federal securities law. In addition, the Company on behalf of the Funds, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

2.  Significant Accounting Policies:

The following is a summary of significant accounting policies of the Funds, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) in the investment company industry:

a)  Security Transactions — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.

Trade date for senior floating rate interests purchased in the primary market is considered the date on which the loan allocations are determined. Trade date for senior floating rate interests purchased in the secondary market is the date on which the transaction is entered into.

b)  Security Valuation and Investment Income — Except for Hartford Money Market HLS Fund, the Funds generally use market prices in valuing portfolio securities. If market quotations are not readily available or are deemed unreliable, a Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of that Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the exchange on which a portfolio security is principally traded but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which a Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of securities principally traded on foreign markets, each Fund uses a fair value pricing service approved by that Fund’s Board of Directors which employs quantitative models to adjust for “stale” prices caused by the movement of other markets and other factors occurring after the close of the foreign markets but before the close of the Exchange. Securities that are principally traded on foreign markets may trade on days that are not business days of the Funds. Because the NAV of each Fund’s shares is determined only on business days of the Funds, the value of the portfolio securities of a Fund that invests in foreign securities may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Funds may cause the NAV of their respective shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is principally traded but before the close of the Exchange. There can be no assurance that any Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which that Fund determines its NAV per share.

Debt securities (other than short-term obligations and senior floating rate interests), held by the Fund are valued on the basis of valuations furnished by an unaffiliated pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an unaffiliated pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation system in accordance with procedures established by that Fund’s Board of Directors. Generally, each Fund may use fair valuation in regards to debt securities when a Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Hartford Money Market HLS Fund’s investments and investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

­ ­  59  ­ ­

Hartford Series Fund, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter (“OTC”) market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent bid quotation on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts shall be valued at the final settlement price reported by an exchange on which they are principally traded. If there were no trades as of the valuation day, then the contract shall be valued at the closing bid price as of the Valuation Time.

Financial instruments for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in securities or from a widely-used quotation system in accordance with procedures established by the Fund’s Board of Directors.

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time. In the event that the applicable pricing service cannot provide the spot currency rates and forward currency rates in a timely fashion, such rates may be obtained from a widely-used quotation system in accordance with procedures established by the Fund’s Board of Directors.

Swaps and other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.

Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.

Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.

c)  Foreign Currency Transactions — The accounting records of the Funds are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.

The Funds do not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.

Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.

d)  Securities Lending — The Funds, except for Hartford Money Market HLS Fund, may lend their securities to certain qualified brokers who pay these Funds negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following day.

While securities are on loan, each Fund is subject to: the risk that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, the risk that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, the risk that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, the risk that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, the risk that return of loaned securities could be delayed and could interfere with portfolio management decisions and the risk that any efforts to recall the securities for purposes of voting may not be effective.

e)  Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Funds may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”), or Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.

­ ­  60  ­ ­

f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Funds enter into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by each Fund’s custodian in book entry or physical form in the custodial account of the Funds or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. Certain Funds, as shown on the Schedule of Investments, had outstanding repurchase agreements as of December 31, 2007.
g)	Reverse Repurchase Agreements — Each Fund, except Hartford Index HLS Fund, may also enter into reverse repurchase agreements. Reverse repurchase agreements involve sales by a Fund of portfolio assets concurrently with an agreement by a Fund to repurchase the same assets at a later date at a fixed price. Reverse repurchase agreements carry the risk that the market value of the securities which a Fund is obligated to repurchase may decline below the repurchase price. A reverse repurchase agreement is viewed as a collateralized borrowing by a Fund. Borrowing magnifies the potential for gain or loss on the portfolio securities of a Fund and, therefore, increases the possibility of fluctuation in a Fund’s NAV. As of December 31, 2007, there were no outstanding reverse repurchase agreements.
h)	Futures and Options Transactions — Certain Funds may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Funds enter into such futures contracts, they are required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called maintenance margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Funds.

At any time prior to the expiration of the futures contract, a Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of maintenance margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involve elements of market risk, which may exceed the amounts recognized in the Statements of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Funds’ strategies and potentially result in loss. Certain Funds, as shown on the Schedule of Investments, had outstanding futures contracts as of December 31, 2007.

The premium paid by a Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

The Funds may write covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will establish or maintain with its custodian for the term of the option a “segregated account” consisting of cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. A Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. Transactions involving written option contracts for the Funds during the year ended December 31, 2007, are summarized below:

	Hartford Advisers HLS Fund
	Options Contract Activity During the
	Year Ended December 31, 2007
Call Options Written During the Period	Number of Contracts*			Premium Amounts
Beginning of the period		—		$	—
Written		2,750			899
Expired		—			—
Closed		(1,225	)		(336	)
Exercised		(1,525	)		(563	)
End of Period		—		$	—

Put Options Written During the Period	Number of Contracts*			Premium Amounts
Beginning of the period		—		$	—
Written		15,885			4,276
Expired		—			—
Closed		(15,885	)		(4,276	)
Exercised		—			—
End of Period		—		$	—

­ ­  61  ­ ­

Hartford Series Fund, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

	Hartford Capital Appreciation HLS Fund
	Options Contract Activity During the
	Year Ended December 31, 2007
Call Options Written During the Period	Number of Contracts*			Premium Amounts
Beginning of the period		—		$	—
Written		4,596			1,055
Expired		—			—
Closed		(4,596	)		(1,055	)
Exercised		—			—
End of Period		—		$	—

	Hartford Stock HLS Fund
	Options Contract Activity During the
	Year Ended December 31, 2007
Call Options Written During the Period	Number of Contracts*			Premium Amounts
Beginning of the period		—		$	—
Written		2,457			796
Expired		—			—
Closed		(1,173	)		(322	)
Exercised		(1,284	)		(474	)
End of Period		—		$	—

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

i)  Forward Foreign Currency Contracts — For the year ended December 31, 2007, certain Funds, as shown on the Schedule of Investments entered into forward foreign currency contracts that obligate the Funds to repurchase/replace or sell currencies at specified future dates. The Funds enter into forward foreign currency contracts to hedge against adverse fluctuations in exchange rates between currencies.

Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statements of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.

j)	Indexed Securities — The Funds may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Funds use these securities to increase or decrease their exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. Certain Funds had investments in indexed securities, as of December 31, 2007, as shown on the Schedule of Investments under Exchange Traded Funds.
k)	Federal Income Taxes — For federal income tax purposes, the Funds intend to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of their taxable net investment income and net realized capital gains to their shareholders and otherwise complying with the requirements of regulated investment companies. The Funds have distributed substantially all of their income and capital gains in prior years and each Fund intends to distribute substantially all of its income and gains prior to the next fiscal year end. Accordingly, no provision for federal income taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distribution for federal income tax purposes.
l)	The tax character of distributions paid for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended				For the Year Ended
	December 31, 2007				December 31, 2006
			Long-Term				Long-Term
	Ordinary Income		Capital Gains(a)		Ordinary Income		Capital Gains(a)
Hartford Advisers HLS Fund	$	685,113	$	286,923	$	515,345	$	282,069
Hartford Capital Appreciation HLS Fund		706,183		1,741,718		787,497		1,177,329
Hartford Dividend and Growth HLS Fund		162,791		530,149		138,240		486,777
Hartford International Opportunities HLS Fund		218,997		244,053		109,112		79,473
Hartford Money Market HLS Fund		108,593		—		81,039		—
Hartford Small Company HLS Fund		152,417		88,145		32,940		182,576
Hartford Stock HLS Fund		460,819		261,474		128,118		230,309
Hartford Total Return Bond HLS Fund		230,998		—		192,995		549

(a) The Funds designate these distributions as long-term gain capital dividends per IRC code Sec. 852(b) (3) (C).

­ ­  62  ­ ­

As of December 31, 2007, the components of distributable earnings (deficit) on tax basis were as follows:

											Total
	Undistributed		Undistributed		Accumulated			Unrealized			Accumulated
	Ordinary		Long-Term		Capital Gains			Appreciation			Earnings
	Income		Capital Gain		(Losses)*			(Depreciation)@			(Deficit)
Hartford Advisers HLS Fund	$	16,676	$	30,855	$	—		$	68,856		$	116,387
Hartford Capital Appreciation HLS Fund		288,623		871,235		—			1,666,605			2,826,463
Hartford Dividend and Growth HLS Fund		26,321		107,986		—			1,365,277			1,499,584
Hartford International Opportunities HLS Fund		59,482		21,880		(7,187	)		365,426			439,601
Hartford Small Company HLS Fund		—		4,833		(3,787	)		160,057			161,103
Hartford Stock HLS Fund		20,496		6,404		—			38,544			65,444
Hartford Total Return Bond HLS Fund		14,701		—		(22,194	)		(66,357	)		(73,850	)

*	Certain Funds had capital loss carryforwards that are identified in Note 2(n).
@	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable primarily to the tax deferral of wash sale losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

m)  Reclassification of Capital Accounts:

In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Funds have recorded reclassifications in their capital accounts. These reclassifications had no impact on the NAV per share of the Funds and are designed generally to present accumulated undistributed (distribution in excess of) net investment income and accumulated net realized gains (losses) on investments on a tax basis which is considered to be more informative to a shareholder. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as foreign currency, net operating losses and capital loss carryforward expiration that reduce capital gain distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of a Fund’s distributions may be shown in the accompanying Statements of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. For the year ended December 31, 2007, the Funds recorded the following reclassifications to increase (decrease) the accounts listed below.

	Undistributed			Accumulated Net
	Net Investment			Realized Gain
	Income			(Loss)			Paid-in-Capital
Hartford Advisers HLS Fund	$	(698	)	$	698		$	—
Hartford Capital Appreciation HLS Fund		(52,719	)		52,215			504
Hartford Dividend and Growth HLS Fund		(325	)		325			—
Hartford International Opportunities HLS Fund		(662	)		662			—
Hartford Small Company HLS Fund		950			(2,104	)		1,154
Hartford Stock HLS Fund		(903	)		903			—
Hartford Total Return Bond HLS Fund		14,460			(14,453	)		(7	)

n)  Capital Loss Carryforwards:

As of December 31, 2007 (tax-year-end), the following Funds had capital loss carryforwards for U.S. Federal income tax purposes:

	Year of Expiration
Fund	2008		2009		2010		2011		2012		2013		2014		2015		Total
Hartford International Opportunities HLS Fund	$	—	$	3,630	$	1,046	$	—	$	—	$	—	$	—	$	—	$	4,676
Hartford Total Return Bond HLS Fund		—		—		—		—		—		—		22,194		—		22,194

As of December 31, 2007, the Funds elected to defer the following post October losses.

			Long-Term
Fund	Ordinary Income		Capital Gain
Hartford International Opportunities HLS Fund	$	2,509	$	—
Hartford Small Company HLS Fund		—		3,787

Based on certain provisions in the IRC, various limitations regarding the future utilization of Hartford International Opportunities HLS Fund and Hartford Total Return Bond HLS Fund carryforwards may apply.

o)  Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the Financial Accounting Standards Board (FASB) released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. Management has evaluated the implications of FIN 48, for all open tax years (tax years ended December 31, 2005-2007) and has determined there is no impact to the Funds’ financial statements.

­ ­  63  ­ ­

Hartford Series Fund, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

p)  Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Funds’ shares are executed in accordance with the investment instructions of the contract holders or plan participants. The NAV of each Fund’s shares is determined as of the close of each business day of the Exchange. The NAV per share is determined separately for each class of each Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of a Fund’s shares received by an insurance company or plan prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the per-share NAV determined as of the close of the Exchange. Orders received by an insurance company or plan after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined per-share NAV.

Dividends are declared pursuant to a policy adopted by the Funds’ Board of Directors based upon the investment performance of the Funds. The policy of all Funds, except Hartford Money Market HLS Fund, is to pay dividends from net investment income and distribute realized capital gains, if any, at least once a year.

Hartford Money Market HLS Fund seeks to maintain a stable NAV per share of $1.00 by declaring a daily dividend from net investment income, including net short-term capital gains and losses, and by valuing its investments using the amortized cost method. Dividends are declared daily and distributed monthly.

Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include foreign currency gains and losses, losses deferred due to wash sale, adjustments related to Passive Foreign Investment Companies, certain derivatives and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Funds’ capital accounts (see Note 2 (m)).

q)

Illiquid and Restricted Securities — Each Fund is permitted to invest up to 15% of its net assets in illiquid securities, except for Hartford Money Market HLS Fund which may invest up to 10% in such securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine a Fund’s NAV per share. A Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on NAV. Each Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Funds’ Board of Directors.

r)

Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Funds on a forward commitment or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Funds identify securities segregated in their records with value at least equal to the amount of the commitment. As of December 31, 2007, the Funds entered into outstanding when-issued or forward commitments as follows:

Fund	Cost
Hartford Capital Appreciation HLS Fund	$	4,022
Hartford Total Return Bond HLS Fund		139,067

s)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, lower rated bonds have higher credit risk. High yield bond prices can fall on bad news about the economy, an industry or a company. The share price, yield and total return of a Fund which holds securities with high yield bonds may fluctuate more than with less aggressive bond funds.
t)	Senior Floating Rate Interests — Certain Funds, as shown on the Schedule of Investments, may invest in senior floating rate interests. Senior floating rate interests hold the most senior position in the capital structure of a business entity (the “Borrower”), are typically secured by specific collateral and have a claim on the assets and/or stock of the Borrower that is senior to that held by subordinated debtholders and stockholders of the Borrower. Senior floating rate interests are typically structured and administered by a financial institution that acts as the agent of the lenders participating in the senior floating rate interest. Senior floating rate interests are typically rated below-investment-grade, which suggests they are more likely to default than investment-grade loans. A default could lead to non-payment of income which would result in a reduction of income to the Fund and there can be no assurance that the liquidation of any collateral would satisfy the Borrower’s obligation in the event of non-payment of scheduled interest or principal payments, or that such collateral could be liquidated.
u)	Prepayment Risks — Most senior floating rate interests, certain debt securities and interest-only securities allow for prepayment of principal without penalty. Senior floating rate interests and securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. Prepayment risk is a principal risk of mortgage-backed securities and certain asset-backed securities. Accordingly, the potential for the value of a senior floating rate interest or security to increase in response to interest rate declines is limited. For certain asset-backed securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity. Senior floating rate interests or debt securities purchased to replace a prepaid loan or a debt security may have lower yields than the yield on the prepaid loan or debt security.

Senior floating rate interests generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for the Borrower to repay, prepayments of senior floating rate interests may occur. As a result, the

­ ­  64  ­ ­

actual remaining maturity of senior floating rate interests held may be substantially less than the stated maturities shown in the Schedule of Investments.

v)

Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.

w)

Swaps — Certain Funds may enter into event linked swaps, including credit default swaps. The credit default swap market allows a Fund to manage credit risk through buying and selling credit protection on a specific issuer, an index, or a basket of issuers. A “buyer” of credit protection agrees to pay a counterparty to assume the credit risk of an issuer upon the occurrence of certain events. The “seller” of the protection receives periodic payments and agrees to assume the credit risk of an issuer upon the occurrence of certain events. A “seller’s” exposure is limited to the total notional amount of the credit default swap contract. A Fund will generally not buy protection on issuers that are not currently held by such Fund.

Certain Funds may enter into interest rate swaps. In a typical interest rate swap, one party agrees to make regular payments equal to a floating interest rate multiplied by a “notional principal amount,” in return for payments equal to a fixed rate multiplied by the same amount, for a specific period of time. If a swap agreement provides for payments in different currencies, the parties might agree to exchange the notional principal amount as well. Swaps may also depend on other prices or rates, such as the value of an index or mortgage prepayment rates. Certain Funds. as shown on the Schedule of Investments, had outstanding swaps as of December 31, 2007.

x)  Financial Accounting Standards Board Financial Accounting Standards No. 157 — In September 2006, FASB issued Statement on Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. FAS 157 is effective for the Funds’ financial statements with fiscal years beginning after November 15, 2007, and interim periods within those fiscal years. Management has evaluated the impact of the standard and does not believe the adoption of FAS 157 will impact the amounts reported in the financial statements; however, additional disclosures will be required about the inputs used to develop the measurements of fair value and the effect of certain measurements reported in the Statements of Operations for a fiscal period.

3.  Expenses:

a)  Investment Management and Advisory Agreements — HL Investment Advisors, LLC (“HL Advisors”), an indirect wholly-owned subsidiary of The Hartford, serves as investment manager to the Funds pursuant to separate Investment Management Agreements with Hartford Series Fund, Inc. As investment manager, HL Advisors has overall investment supervisory responsibility for each Fund. In addition, HL Advisors provides administrative personnel, services, equipment and facilities and office space for proper operation of the Funds.

HL Advisors has contracted with Wellington for the provision of day-to-day investment management services for Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford Small Company HLS Fund and Hartford Stock HLS Fund, in accordance with each Fund’s investment objective and policies.

In addition, HL Advisors has contracted with Hartford Investment Management for the provision of day-to-day investment management services for Hartford Money Market HLS Fund, Hartford Small Company HLS Fund, and Hartford Total Return Bond HLS Fund.

Each Fund pays a fee to HL Advisors, a portion of which is used to compensate Hartford Investment Management.

b)  Administrative Services Agreement — Under the Administrative Services Agreement between HLIC and the following Funds, Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford Money Market HLS Fund, Hartford Small Company HLS Fund, Hartford Stock HLS Fund and Hartford Total Return Bond HLS Fund, HLIC provides administrative services to the Funds and receives monthly compensation at the annual rate of 0.20% of each Fund’s average daily net assets. The Funds assume and pay certain other expenses (including, but not limited to, accounting, custodian, state taxes and directors’ fees). Directors’ fees represent remuneration paid or accrued to directors not affiliated with HLIC or any other related company.

The schedules below reflect the rates of compensation paid to HL Advisors for investment advisory services and to HLIC for administrative services rendered during the year ended December 31, 2007; the rates are accrued daily and paid monthly.

Hartford Money Market HLS Fund(1)

Average Daily Net Assets	Annual Rate
On first $2 billion		0.450%
On next $3 billion		0.400%
On next $5 billion		0.380%
Over $10 billion		0.370%

(1) Effective January 1, 2007, HL Advisors voluntarily agreed to waive management fees of 0.05% of average daily net assets until December 31, 2007. This waiver will be continued until December 31, 2008.

Hartford Advisers HLS Fund

Average Daily Net Assets	Annual Rate
On first $250 million		0.680%
On next $250 million		0.655%
On next $500 million		0.645%
Over $1 billion		0.595%

­ ­  65  ­ ­

Hartford Series Fund, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

Hartford Capital Appreciation HLS Fund,
Hartford Dividend and Growth HLS Fund,
Hartford International Opportunities HLS Fund

Average Daily Net Assets	Annual Rate
On first $250 million		0.775%
On next $250 million		0.725%
On next $500 million		0.675%
Over $1 billion		0.625%

Hartford Total Return Bond HLS Fund

Average Daily Net Assets	Annual Rate
On first $250 million		0.525%
On next $250 million		0.500%
On next $500 million		0.475%
On next $4 billion		0.450%
On next $5 billion		0.430%
Over $10 billion		0.420%

Hartford Stock HLS Fund

Average Daily Net Assets	Annual Rate
On first $250 million		0.525%
On next $250 million		0.500%
On next $500 million		0.475%
Over $1 billion		0.450%

Hartford Small Company HLS Fund

Average Daily Net Assets	Annual Rate
On first $250 million		0.775%
On next $250 million		0.725%
On next $500 million		0.675%
On next $500 million		0.600%
Over $1.5 billion		0.550%

c)  Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between HLIC and Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford Money Market HLS Fund, Hartford Small Company HLS Fund, Hartford Stock HLS Fund and Hartford Total Return Bond HLS Fund, HLIC provides accounting services to the Funds and receives monthly compensation at the annual rate of 0.015% of each Fund’s average daily net assets. The Funds’ accounting services fees are accrued daily and paid monthly.

Effective January 1, 2008, the rates of compensation paid to HLIC is as follows:

Hartford Capital Appreciation HLS Fund
and Hartford Total Return Bond HLS Fund

Average Daily Net Assets	Annual Rate
On first $5 billion		0.018%
On next $5 billion		0.016%
Over $10 billion		0.014%

Hartford Advisers HLS Fund and
Hartford International Opportunities HLS Fund

Average Daily Net Assets	Annual Rate
On first $5 billion		0.016%
On next $5 billion		0.014%
Over $10 billion		0.012%

Hartford Dividend and Growth HLS Fund

Average Daily Net Assets	Annual Rate
On first $5 billion		0.014%
On next $5 billion		0.012%
Over $10 billion		0.010%

Hartford Small Company HLS Fund

Average Daily Net Assets	Annual Rate
On first $5 billion		0.012%
Over $5 billion		0.010%

Hartford Money Market HLS Fund and
Hartford Stock HLS Fund

Average Daily Net Assets	Annual Rate
All assets		0.010%

d)  Other Related Party Transactions — The Hartford provided certain legal services to the Funds, for which the Funds were charged $41 for the year ended December 31, 2007. Certain officers of the Funds are directors and/or officers of HLIA, Hartford Investment Management and/or The Hartford or its subsidiaries. For the year ended December 31, 2007, a portion of the Funds’ chief compliance officer’s salary was paid by the Funds in the amount of $96. Hartford Investor Services Company LLC (“HISC”), a wholly-owned subsidiary of The Hartford, provides transfer agent services to the Funds. HISC was compensated $38 for providing such services. The Funds accrue these fees daily and pay monthly.

­ ­  66  ­ ­

e)

Operating Expenses — Allocable expenses incurred by the Funds are allocated to each Fund in proportion to the average daily net assets of each Fund, except where allocation of certain expenses is more fairly made directly to the Fund or to a specific class within a Fund. Non-allocable expenses are charged to each Fund based on specific identification.

f)

Fees Paid Indirectly — The Funds have entered into agreements with State Street Global Advisers, LLC and Frank Russell Securities, Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Funds’ expenses. In addition, the Funds’ custodian bank, State Street Bank & Trust, has also agreed to reduce its fees when the Funds maintain cash on deposit in the non-interest bearing custody account. For the year ended December 31, 2007, these amounts are included in the Statements of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	For the						For the						For the						For the
	Year Ended						Year Ended						Year Ended						Year Ended
	December 31, 2007						December 31, 2006						December 31, 2005						December 31, 2004
	Ratio of Expenses						Ratio of Expenses						Ratio of Expenses						Ratio of Expenses
	to Average Net Assets After						to Average Net Assets After						to Average Net Assets After						to Average Net Assets After
	Waivers and Offsets						Waivers and Offsets						Waivers and Offsets						Waivers and Offsets
Fund	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB			Class IA			Class IB
Hartford Advisers HLS Fund		0.63	%		0.88	%		0.62	%		0.87	%		0.64	%		0.89	%		0.66	%		0.91	%
Hartford Capital Appreciation HLS Fund		0.67			0.93			0.66			0.91			0.67			0.92			0.67			0.92
Hartford Dividend and Growth HLS Fund		0.67			0.92			0.66			0.91			0.66			0.91			0.67			0.92
Hartford International Opportunities HLS Fund		0.70			0.95			0.73			0.98			0.74			0.99			0.74			0.99
Hartford Money Market HLS Fund		0.42			0.67			0.48			0.73			0.49			0.74			0.48			0.73
Hartford Small Company HLS Fund		0.70			0.95			0.70			0.95			0.71			0.96			0.70			0.95
Hartford Stock HLS Fund		0.48			0.73			0.47			0.72			0.48			0.73			0.48			0.73
Hartford Total Return Bond HLS Fund		0.49			0.74			0.49			0.74			0.50			0.75			0.50			0.75

g)  Distribution Plan for Class IB Shares — All Funds with Class IB shares have adopted a Distribution Plan pursuant to Rule 12b-1 under the 1940 Act for the Class IB shares. Pursuant to the Distribution Plan, each Fund compensates the Distributor, Hartford Securities Distribution Company, Inc. (a wholly owned, ultimate subsidiary of Hartford Life, Inc. (“Hartford Life”)) from assets attributable to the Class IB shares for services rendered and expenses borne in connection with activities primarily intended to result in the sale of Class IB shares.

The Distribution Plan provides that each Fund may pay annually up to 0.25% of the average daily net assets of a Fund attributable to its Class IB shares for activities primarily intended to result in the sale of Class IB shares. Under the terms of the Distribution Plan and the principal underwriting agreement, each Fund is authorized to make payments monthly to the Distributor which may be used to pay or reimburse entities providing distribution and shareholder servicing with respect to the Class IB shares for such entities’ fees or expenses incurred or paid in that regard. The Funds’ distribution fees are accrued daily and paid monthly.

h)  Payment from Affiliate — The Funds are available for purchase by the separate accounts of different variable universal life policies, variable annuity products, and funding agreements and they are offered directly to certain qualified retirement plans (collectively, “Products”). Although existing Products contain transfer restrictions, some Products, particularly older variable annuity products, do not contain restrictions on the frequency of transfers. In addition, as the result of the settlement of litigation against Hartford Life (the issuers of such variable annuity products), the Funds’ ability to restrict transfers by certain owners of older variable annuity products was limited. During 2006, these annuity owners surrendered the older variable annuity contracts that were the subject of prior litigation. In February 2005, Hartford Life agreed with the Boards of Directors of the Funds to indemnify the Funds for any material harm caused to the Funds from frequent trading by these contract owners. Pursuant to the agreement, the following amounts have been paid to the Funds indicated in 2006 and 2005.

Fund	2006		2005
Hartford Dividend and Growth HLS Fund	$	398	$	—
Hartford Small Company HLS Fund		189		972
Hartford Stock HLS Fund		259		—
Hartford Total Return Bond HLS Fund		107		—

On November 8, 2006, the SEC issued an order setting forth the terms of a settlement reached with three subsidiaries of The Hartford that resolves the SEC’s Division of Enforcement’s investigation of aspects of The Hartford’s variable annuity and mutual fund operations related to directed brokerage and revenue sharing. Under the terms of the settlement, The Hartford paid a total of $39.6 million to the Funds in the amounts indicated below. These amounts were recorded on November 8, 2006 and paid on November 22, 2006. The Hartford settled this matter without admitting or denying the findings of the SEC.

Fund	Reimbursement Amount
Hartford Advisers HLS Fund	$	6,804
Hartford Capital Appreciation HLS Fund		11,567
Hartford Dividend and Growth HLS Fund		3,856
Hartford International Opportunities HLS Fund		314

­ ­  67  ­ ­

Hartford Series Fund, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

Fund	Reimbursement Amount
Hartford Small Company HLS Fund		1,650
Hartford Stock HLS Fund		5,561

On May 2, 2007 and June 8, 2007, Hartford Small Company HLS Fund was reimbursed $2,514 in trading reimbursements and $486 for incorrect IPO allocations, respectively.

The total return in the financial highlights includes the impact of the payment from (to) affiliates. The tables below show the impact of each of the payments from affiliates and what the total return for the years ended December 31, 2007, 2006 and 2005 would have been excluding the payments from affiliates:

Impact from Payment

Impact from Payment

from Affiliate for

Total Return Excluding

from Affiliate for Trading

Incorrect IPO

Payments from

Reimbursements for the

Allocations for the

Affiliate for the

Year Ended

Year Ended

Year Ended

December 31, 2007

December 31, 2007

December 31, 2007

Fund

Class IA

Class IB

Class IA

Class IB

Class IA

Class IB

Hartford Small Company HLS Fund

0.16%

0.16

%

0.03

%

0.03

%

14.01

%

13.73

%

	Impact from Payment						Impact from Payment						Total Return Excluding
	from Affiliate for						from (to) Affiliate for						Payments from (to)
	SEC Settlement						Unrestricted Transfers						Affiliate
	for the Year Ended						for the Year Ended						for the Year Ended
	December 31, 2006						December 31, 2006						December 31, 2006
Fund	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB
Hartford Advisers HLS Fund		0.09	%		0.09	%		—	%		—	%		10.61	%		10.34	%
Hartford Capital Appreciation HLS Fund		0.09			0.09			—			—			16.52			16.23
Hartford Dividend and Growth HLS Fund		0.06			0.06			0.01			0.01			20.29			19.99
Hartford International Opportunities HLS Fund		0.02			0.02			—			—			24.44			24.13
Hartford Small Company HLS Fund		0.14			0.14			—			—			14.29			14.00
Hartford Stock HLS Fund		0.11			0.12			0.01			0.01			14.53			14.24
Hartford Total Return Bond HLS Fund		—			—			—			—			4.80			4.54

Impact from Payment

from Affiliate for

Total Return Excluding

Unrestricted Transfers

Payments from Affiliate

for the Year Ended

for the Year Ended

December 31, 2005

December 31, 2005

Fund

Class IA

Class IB

Class IA

Class IB

Hartford Small Company HLS Fund

0.10

%

0.10

%

20.91

%

20.61

%

4.  Investment Transactions:

For the year ended December 31, 2007, the cost of purchases and proceeds from sales of securities for Hartford Money Market HLS Fund were $36,997,029 and $36,190,030, respectively. The cost of purchases and proceeds from sales of securities (excluding short-term investments) for the other portfolios were as follows:

	Cost of Purchases		Sales Proceeds		Cost of
	Excluding		Excluding		Purchases for		Sales Proceeds for
	U.S. Government		U.S. Government		U.S. Government		U.S. Government
Fund	Obligations		Obligations		Obligations		Obligations
Hartford Advisers HLS Fund	$	7,297,673	$	8,014,406	$	232,579	$	741,095
Hartford Capital Appreciation HLS Fund		14,657,072		16,844,548		—		—
Hartford Dividend and Growth HLS Fund		1,988,591		2,401,686		—		—
Hartford International Opportunities HLS Fund		2,926,210		2,967,516		—		—
Hartford Small Company HLS Fund		2,619,405		2,590,879		—		—
Hartford Stock HLS Fund		4,841,818		5,805,533		—		—
Hartford Total Return Bond HLS Fund		10,893,207		10,331,038		4,771,214		4,883,768

5.  Line of Credit:

The Funds, except for Hartford Money Market HLS Fund, participate in a $1 billion committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Funds are required to own securities having a market value in excess of 300% of the total

­ ­  68  ­ ­

bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the year ended December 31, 2007, the Funds did not have any borrowings under this facility.

6.  Fund Mergers:

Reorganization of certain series of Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.  At a special meeting of shareholders, held on September 25, 2007, shareholders of Hartford International Stock HLS Fund approved a proposed Plan of Reorganization providing for the acquisition of all of the assets and liabilities of Hartford International Stock HLS Fund by Hartford International Opportunities HLS Fund.

Under the terms of the Plan of Reorganization, and pursuant to the approval by shareholders of Hartford International Stock HLS Fund, the net assets were acquired by Hartford International Opportunities HLS Fund on October 12, 2007. Hartford International Opportunities HLS Fund acquired the net assets of Hartford International Stock HLS Fund in exchange for shares in Hartford International Opportunities HLS Fund, which were distributed pro rata to Hartford International Stock HLS Fund to its shareholders on October 12, 2007, in complete liquidation of Hartford International Stock HLS Fund.

The merger was accomplished by a tax free exchange as detailed below:

Hartford International Opportunities HLS Fund	Class IA
Net assets of Hartford International Stock HLS Fund on October 12, 2007	$	99,957
Hartford International Stock HLS Fund shares exchanged		5,631
Hartford International Opportunities HLS Fund shares issued		5,347
Net assets of Hartford International Opportunities HLS Fund immediately before the merger	$	2,355,950
Net assets of Hartford International Opportunities HLS Fund immediately after the merger	$	2,455,907

Hartford International Stock HLS Fund had the following unrealized appreciation, accumulated net realized losses and capital stock as of October 12, 2007.

						Accumulated
						Distributions in
	Unrealized		Accumulated Net			Excess of Net
Fund	Appreciation		Realized Losses			Investment Loss**			Capital Stock
Hartford International Stock HLS Fund	$	19,805	$	(57	)	$	(2	)	$	80,211

** The utilization of the tax capital loss carryover of the acquired funds may be limited by current income tax rules and regulations.

­ ­  69  ­ ­

Hartford Series Fund, Inc.

Financial Highlights

	— Selected Per-Share Data(3) —
							Net														— Ratios and Supplemental Data —
							Realized																	Net										Ratio of			Ratio of			Ratio of
							and								Distributions									Increase										Expenses			Expenses			Net
	Net Asset		Net				Unrealized			Total		Dividends			from									(Decrease)			Net Asset					Net Assets		to Average			to Average			Investment
	Value at		Investment		Payment		Gain			from		from Net			Realized			Distributions						in Net			Value at					at End of		Net Assets			Net Assets			Income			Portfolio
	Beginning		Income		from (to)		(Loss) on			Investment		Investment			Capital			from			Total			Asset			End		Total			Period		Before			After			to Average			Turnover
	of Period		(Loss)		Affiliate		Investments			Operations		Income			Gains			Capital			Distributions			Value			of Period		Return(1)			(000’s)		Waivers(2)			Waivers(2)			Net Assets			Rate(4)
Hartford Advisers HLS Fund
For the Year Ended December 31, 2007
Class IA	$	22.60	$	0.55	$	—	$	0.90	��	$	1.45	$	(0.53	)	$	(2.55	)	$	—		$	(3.08	)	$	(1.63	)	$	20.97		6.64	%	$	6,291,220		0.63	%		0.63	%		2.13	%		47	%
Class IB		22.78		0.49		—		0.92			1.41		(0.46	)		(2.55	)		—			(3.01	)		(1.60	)		21.18		6.37			1,080,254		0.88			0.88			1.88			—
For the Year Ended December 31, 2006
Class IA		22.53		0.58		0.02		1.81			2.41		(0.57	)		(1.77	)		—			(2.34	)		0.07			22.60		10.70	(5)		7,207,926		0.64			0.64			2.24			87
Class IB		22.70		0.51		0.02		1.83			2.36		(0.51	)		(1.77	)		—			(2.28	)		0.08			22.78		10.43	(5)		1,252,293		0.89			0.89			1.99			—
For the Year Ended December 31, 2005
Class IA		23.04		0.54		—		1.12			1.66		(0.77	)		(1.04	)		(0.36	)		(2.17	)		(0.51	)		22.53		7.24			8,157,354		0.66			0.65			1.96			89
Class IB		23.17		0.47		—		1.15			1.62		(0.69	)		(1.04	)		(0.36	)		(2.09	)		(0.47	)		22.70		6.97			1,366,216		0.91			0.90			1.72			—
For the Year Ended December 31, 2004
Class IA		22.67		0.51		—		0.33			0.84		(0.47	)		—			—			(0.47	)		0.37			23.04		3.74			9,699,374		0.67			0.67			2.16			36
Class IB		22.81		0.48		—		0.30			0.78		(0.42	)		—			—			(0.42	)		0.36			23.17		3.48			1,462,319		0.92			0.92			1.91			—
For the Year Ended December 31, 2003
Class IA		19.59		0.42		—		3.18			3.60		(0.52	)		—			—			(0.52	)		3.08			22.67		18.49			10,358,449		0.67			0.67			2.03			48
Class IB		19.72		0.41		—		3.16			3.57		(0.48	)		—			—			(0.48	)		3.09			22.81		18.20			1,263,641		0.92			0.92			1.78			—
Hartford Capital Appreciation HLS Fund
For the Year Ended December 31, 2007
Class IA		53.49		0.35		—		8.36			8.71		(0.07	)		(9.67	)		—			(9.74	)		(1.03	)		52.46		16.83			12,123,834		0.67			0.67			0.68			101
Class IB		53.21		0.22		—		8.28			8.50		(0.03	)		(9.67	)		—			(9.70	)		(1.20	)		52.01		16.53			2,933,905		0.92			0.92			0.42			—
For the Year Ended December 31, 2006
Class IA		52.99		0.50		0.04		7.88			8.42		(0.76	)		(7.16	)		—			(7.92	)		0.50			53.49		16.61	(5)		11,746,831		0.67			0.67			0.82			73
Class IB		52.75		0.36		0.04		7.83			8.23		(0.61	)		(7.16	)		—			(7.77	)		0.46			53.21		16.32	(5)		2,810,587		0.92			0.92			0.57			—
For the Year Ended December 31, 2005
Class IA		53.43		0.45		—		7.57			8.02		(0.52	)		(7.94	)		—			(8.46	)		(0.44	)		52.99		15.55			11,317,561		0.70			0.70			0.78			97
Class IB		53.18		0.25		—		7.59			7.84		(0.33	)		(7.94	)		—			(8.27	)		(0.43	)		52.75		15.26			2,793,612		0.95			0.95			0.53			—
For the Year Ended December 31, 2004
Class IA		44.91		0.35		—		8.34			8.69		(0.17	)		—			—			(0.17	)		8.52			53.43		19.36			10,751,945		0.70			0.70			0.77			89
Class IB		44.76		0.27		—		8.26			8.53		(0.11	)		—			—			(0.11	)		8.42			53.18		19.07			2,505,798		0.95			0.95			0.52			—
For the Year Ended December 31, 2003
Class IA		31.70		0.26		—		13.17			13.43		(0.22	)		—			—			(0.22	)		13.21			44.91		42.38			8,912,749		0.69			0.69			0.77			94
Class IB		31.63		0.19		—		13.10			13.29		(0.16	)		—			—			(0.16	)		13.13			44.76		42.02			1,579,399		0.94			0.94			0.52			—
Hartford Dividend and Growth HLS Fund
For the Year Ended December 31, 2007
Class IA		22.79		0.42		—		1.44			1.86		(0.41	)		(1.89	)		—			(2.30	)		(0.44	)		22.35		8.26			5,842,788		0.67			0.67			1.70			27
Class IB		22.72		0.37		—		1.42			1.79		(0.34	)		(1.89	)		—			(2.23	)		(0.44	)		22.28		7.98			1,501,363		0.92			0.92			1.45			—
For the Year Ended December 31, 2006
Class IA		20.74		0.40		0.01		3.77			4.18		(0.41	)		(1.72	)		—			(2.13	)		2.05			22.79		20.36	(5)		5,671,552		0.67			0.67			1.77			27
Class IB		20.68		0.35		0.01		3.74			4.10		(0.34	)		(1.72	)		—			(2.06	)		2.04			22.72		20.06	(5)		1,603,952		0.92			0.92			1.52			—
For the Year Ended December 31, 2005
Class IA		20.83		0.36		—		0.87			1.23		(0.40	)		(0.92	)		—			(1.32	)		(0.09	)		20.74		5.96			4,978,773		0.67			0.67			1.70			26
Class IB		20.76		0.29		—		0.89			1.18		(0.34	)		(0.92	)		—			(1.26	)		(0.08	)		20.68		5.70			1,506,556		0.92			0.92			1.45			—
For the Year Ended December 31, 2004
Class IA		18.77		0.32		—		2.01			2.33		(0.27	)		—			—			(0.27	)		2.06			20.83		12.42			4,719,663		0.68			0.68			1.73			27
Class IB		18.72		0.27		—		2.00			2.27		(0.23	)		—			—			(0.23	)		2.04			20.76		12.14			1,393,412		0.93			0.93			1.48			—
For the Year Ended December 31, 2003
Class IA		15.09		0.24		—		3.79			4.03		(0.25	)		(0.10	)		—			(0.35	)		3.68			18.77		26.80			3,927,415		0.69			0.69			1.61			31
Class IB		15.07		0.21		—		3.76			3.97		(0.22	)		(0.10	)		—			(0.32	)		3.65			18.72		26.48			902,779		0.94			0.94			1.36			—
Hartford International Opportunities HLS Fund
For the Year Ended December 31, 2007
Class IA		15.23		0.18		—		3.77			3.95		(0.19	)		(3.37	)		—			(3.56	)		0.39			15.62		27.43			2,027,078		0.71			0.71			1.13			135
Class IB		15.36		0.16		—		3.78			3.94		(0.15	)		(3.37	)		—			(3.52	)		0.42			15.78		27.11			417,144		0.96			0.96			0.89			—
For the Year Ended December 31, 2006
Class IA		13.59		0.22		—		3.05			3.27		(0.40	)		(1.23	)		—			(1.63	)		1.64			15.23		24.46	(5)		1,596,055		0.75			0.75			1.47			119
Class IB		13.52		0.18		—		3.07			3.25		(0.18	)		(1.23	)		—			(1.41	)		1.84			15.36		24.15	(5)		382,371		1.00			1.00			1.24			—
For the Year Ended December 31, 2005
Class IA		11.86		0.14		—		1.59			1.73		—			—			—			—			1.73			13.59		14.62			1,251,426		0.78			0.78			1.22			120
Class IB		11.83		0.13		—		1.56			1.69		—			—			—			—			1.69			13.52		14.33			319,626		1.03			1.03			0.97			—
For the Year Ended December 31, 2004
Class IA		10.11		0.10		—		1.73			1.83		(0.08	)		—			—			(0.08	)		1.75			11.86		18.08			1,054,884		0.80			0.80			1.13			142
Class IB		10.09		0.08		—		1.72			1.80		(0.06	)		—			—			(0.06	)		1.74			11.83		17.79			247,752		1.05			1.05			0.88			—

­ ­  70  ­ ­

	— Selected Per-Share Data(3) —
								Net													— Ratios and Supplemental Data —
								Realized																Net										Ratio of			Ratio of			Ratio of
								and								Distributions								Increase										Expenses			Expenses			Net
	Net Asset		Net					Unrealized			Total		Dividends			from								(Decrease)			Net Asset					Net Assets		to Average			to Average			Investment
	Value at		Investment			Payment		Gain			from		from Net			Realized			Distributions					in Net			Value at					at End of		Net Assets			Net Assets			Income			Portfolio
	Beginning		Income			from (to)		(Loss) on			Investment		Investment			Capital			from		Total			Asset			End		Total			Period		Before			After			to Average			Turnover
	of Period		(Loss)			Affiliate		Investments			Operations		Income			Gains			Capital		Distributions			Value			of Period		Return(1)			(000’s)		Waivers(2)			Waivers(2)			Net Assets			Rate(4)
Hartford International Opportunities HLS Fund — (continued)
For the Year Ended December 31, 2003
Class IA	$	7.66	$	0.09		$	—	$	2.44		$	2.53	$	(0.08	)	$	—		$	—	$	(0.08	)	$	2.45		$	10.11		33.10	%	$	823,760		0.83	%		0.83	%		1.08	%		144	%
Class IB		7.66		0.07			—		2.43			2.50		(0.07	)		—			—		(0.07	)		2.43			10.09		32.76			76,246		1.08			1.08			0.83			—
Hartford Money Market HLS Fund
For the Year Ended December 31, 2007
Class IA		1.00		0.05			—		—			0.05		(0.05	)		—			—		(0.05	)		—			1.00		4.95			2,224,124		0.47			0.42			4.83			—
Class IB		1.00		0.05			—		—			0.05		(0.05	)		—			—		(0.05	)		—			1.00		4.69			452,976		0.72			0.67			4.58			—
For the Year Ended December 31, 2006
Class IA		1.00		0.05			—		—			0.05		(0.05	)		—			—		(0.05	)		—			1.00		4.69			1,558,433		0.48			0.48			4.63			—
Class IB		1.00		0.04			—		—			0.04		(0.04	)		—			—		(0.04	)		—			1.00		4.43			319,926		0.73			0.73			4.38			—
For the Year Ended December 31, 2005
Class IA		1.00		0.03			—		—			0.03		(0.03	)		—			—		(0.03	)		—			1.00		2.84			1,353,836		0.49			0.49			2.79			—
Class IB		1.00		0.03			—		—			0.03		(0.03	)		—			—		(0.03	)		—			1.00		2.58			264,040		0.75			0.75			2.54			—
For the Year Ended December 31, 2004
Class IA		1.00		—			—		—			—		—			—			—		—			—			1.00		0.94			1,294,525		0.48			0.48			0.93			—
Class IB		1.00		—			—		—			—		—			—			—		—			—			1.00		0.69			252,808		0.73			0.73			0.68			—
For the Year Ended December 31, 2003
Class IA		1.00		0.01			—		—			0.01		(0.01	)		—			—		(0.01	)		—			1.00		0.75			1,609,439		0.49			0.49			0.75			—
Class IB		1.00		—			—		—			—		—			—			—		—			—			1.00		0.50			240,930		0.74			0.74			0.50			—
Hartford Small Company HLS Fund
For the Year Ended December 31, 2007(6)
Class IA		19.07		—			0.04		2.57			2.61		(0.05	)		(3.01	)		—		(3.06	)		(0.45	)		18.62		14.23	(5)		1,292,444		0.70			0.70			(0.02	)		167	(7)
Class IB		18.71		(0.05	)		0.04		2.51			2.50		—			(3.01	)		—		(3.01	)		(0.51	)		18.20		13.94	(5)		312,775		0.95			0.95			(0.27	)		—
For the Year Ended December 31, 2006
Class IA		19.66		0.05			0.02		2.75			2.82		(0.04	)		(3.37	)		—		(3.41	)		(0.59	)		19.07		14.43	(5)		1,138,830		0.73			0.73			0.21			177
Class IB		19.38		—			0.02		2.70			2.72		(0.02	)		(3.37	)		—		(3.39	)		(0.67	)		18.71		14.14	(5)		304,757		0.98			0.98			(0.03	)		—
For the Year Ended December 31, 2005
Class IA		16.25		(0.04	)		0.02		3.43			3.41		—			—			—		—			3.41			19.66		21.01	(5)		1,017,271		0.75			0.75			(0.08	)		106
Class IB		16.06		(0.05	)		0.02		3.35			3.32		—			—			—		—			3.32			19.38		20.71	(5)		220,310		1.00			1.00			(0.34	)		—
For the Year Ended December 31, 2004
Class IA		14.49		(0.07	)		—		1.83			1.76		—			—			—		—			1.76			16.25		12.18			904,912		0.75			0.75			(0.41	)		141
Class IB		14.35		(0.09	)		—		1.80			1.71		—			—			—		—			1.71			16.06		11.90			230,452		1.00			1.00			(0.66	)		—
For the Year Ended December 31, 2003
Class IA		9.29		(0.04	)		—		5.24			5.20		—			—			—		—			5.20			14.49		55.87			851,283		0.76			0.76			(0.49	)		171
Class IB		9.23		(0.04	)		—		5.16			5.12		—			—			—		—			5.12			14.35		55.48			190,456		1.01			1.01			(0.74	)		—
Hartford Stock HLS Fund
For the Year Ended December 31, 2007
Class IA		52.57		0.60			—		2.43			3.03		(0.57	)		(7.92	)		—		(8.49	)		(5.46	)		47.11		5.90			3,909,045		0.49			0.49			1.01			96
Class IB		52.45		0.45			—		2.44			2.89		(0.42	)		(7.92	)		—		(8.34	)		(5.45	)		47.00		5.64			652,838		0.74			0.74			0.76			—
For the Year Ended December 31, 2006
Class IA		49.21		0.72			0.06		6.41			7.19		(0.71	)		(3.12	)		—		(3.83	)		3.36			52.57		14.65	(5)		4,498,001		0.49			0.49			1.27			97
Class IB		49.10		0.56			0.06		6.42			7.04		(0.57	)		(3.12	)		—		(3.69	)		3.35			52.45		14.37	(5)		758,802		0.74			0.74			1.02			—
For the Year Ended December 31, 2005
Class IA		45.72		0.66			—		3.72			4.38		(0.89	)		—			—		(0.89	)		3.49			49.21		9.62			4,787,612		0.50			0.50			1.21			91
Class IB		45.59		0.51			—		3.74			4.25		(0.74	)		—			—		(0.74	)		3.51			49.10		9.35			770,163		0.75			0.75			0.96			—
For the Year Ended December 31, 2004
Class IA		44.37		0.74			—		1.10			1.84		(0.49	)		—			—		(0.49	)		1.35			45.72		4.17			5,657,942		0.49			0.49			1.61			30
Class IB		44.29		0.64			—		1.08			1.72		(0.42	)		—			—		(0.42	)		1.30			45.59		3.91			718,293		0.74			0.74			1.36			—
For the Year Ended December 31, 2003
Class IA		35.46		0.46			—		8.93			9.39		(0.48	)		—			—		(0.48	)		8.91			44.37		26.47			6,014,675		0.49			0.49			1.18			37
Class IB		35.42		0.38			—		8.88			9.26		(0.39	)		—			—		(0.39	)		8.87			44.29		26.16			562,979		0.74			0.74			0.93			—
Hartford Total Return Bond HLS Fund
For the Year Ended December 31, 2007(6)
Class IA		11.24		0.60			—		(0.08	)		0.52		(0.61	)		—			—		(0.61	)		(0.09	)		11.15		4.67			3,458,709		0.49			0.49			5.27			223
Class IB		11.19		0.57			—		(0.09	)		0.48		(0.58	)		—			—		(0.58	)		(0.10	)		11.09		4.41			1,036,331		0.74			0.74			5.01			—
For the Year Ended December 31, 2006(6)
Class IA		11.27		0.55			—		(0.01	)		0.54		(0.57	)		—			—		(0.57	)		(0.03	)		11.24		4.80	(5)		3,041,321		0.50			0.50			4.82			344
Class IB		11.20		0.51			—		—			0.51		(0.52	)		—			—		(0.52	)		(0.01	)		11.19		4.54	(5)		1,040,408		0.75			0.75			4.56			—

­ ­  71  ­ ­

Hartford Series Fund, Inc.

Financial Highlights — (continued)

	— Selected Per-Share Data(3) —
							Net													— Ratios and Supplemental Data —
							Realized																Net										Ratio of			Ratio of			Ratio of
							and								Distributions								Increase										Expenses			Expenses			Net
	Net Asset		Net				Unrealized			Total		Dividends			from								(Decrease)			Net Asset					Net Assets		to Average			to Average			Investment
	Value at		Investment		Payment		Gain			from		from Net			Realized			Distributions					in Net			Value at					at End of		Net Assets			Net Assets			Income			Portfolio
	Beginning		Income		from (to)		(Loss) on			Investment		Investment			Capital			from		Total			Asset			End		Total			Period		Before			After			to Average			Turnover
	of Period		(Loss)		Affiliate		Investments			Operations		Income			Gains			Capital		Distributions			Value			of Period		Return(1)			(000’s)		Waivers(2)			Waivers(2)			Net Assets			Rate(4)
Hartford Total Return Bond HLS Fund — (continued)
For the Year Ended December 31, 2005
Class IA	$	11.94	$	0.44	$	—	$	(0.14	)	$	0.30	$	(0.88	)	$	(0.09	)	$	—	$	(0.97	)	$	(0.67	)	$	11.27		2.45	%	$	2,745,115		0.50	%		0.50	%		4.09	%		190	%
Class IB		11.86		0.43		—		(0.17	)		0.26		(0.83	)		(0.09	)		—		(0.92	)		(0.66	)		11.20		2.19			1,068,600		0.75			0.75			3.84			—
For the Year Ended December 31, 2004
Class IA		12.32		0.40		—		0.12			0.52		(0.58	)		(0.32	)		—		(0.90	)		(0.38	)		11.94		4.62			2,507,021		0.50			0.50			3.72			164
Class IB		12.25		0.45		—		0.04			0.49		(0.56	)		(0.32	)		—		(0.88	)		(0.39	)		11.86		4.36			991,065		0.75			0.75			3.47			—
For the Year Ended December 31, 2003
Class IA		11.95		0.36		—		0.57			0.93		(0.50	)		(0.06	)		—		(0.56	)		0.37			12.32		7.85			2,332,343		0.50			0.50			3.74			215
Class IB		11.90		0.40		—		0.50			0.90		(0.49	)		(0.06	)		—		(0.55	)		0.35			12.25		7.58			734,768		0.75			0.75			3.49			—

(1)	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.
(2)	Ratios do not reflect reductions for fees paid indirectly. Please see Note 3(f).
(3)	Information presented relates to a share outstanding throughout the indicated period.
(4)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(5)	Total return without the inclusion of the Payment from (to) Affiliate, as noted on the Statements of Operations, can be found in Note 3(h).
(6)	Per share amounts have been calculated using the average shares method.
(7)	During the year ended December 31, 2007, Hartford Small Company HLS Fund received a $12.6 million in-kind subscription of securities from a shareholder in exchange for shares of this fund. This payment-in-kind was excluded from the portfolio turnover rate calculation.

­ ­  72  ­ ­

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors and Shareholders of
Hartford Series Fund, Inc.

We have audited the accompanying statements of assets and liabilities, including the schedule of investments, of Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford Money Market HLS Fund, Hartford Small Company HLS Fund, Hartford Stock HLS Fund and Hartford Total Return Bond HLS Fund (eight of twenty-six portfolios constituting the Hartford Series Fund, Inc.) (the “Funds”) as of December 31, 2007, and the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the periods indicated therein. These financial statements and financial highlights are the responsibility of the Funds’ management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Funds’ internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of investments owned as of December 31, 2007, by correspondence with the custodian, agent banks and brokers or by other appropriate auditing procedures where replies from agent banks or brokers were not received. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford Money Market HLS Fund, Hartford Small Company HLS Fund, Hartford Stock HLS Fund and Hartford Total Return Bond HLS Fund of Hartford Series Fund, Inc. at December 31, 2007, the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the periods indicated therein, in conformity with U.S. generally accepted accounting principles.

/s/ ERNST & YOUNG LLP

Minneapolis, Minnesota

February 11, 2008

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Hartford Series Fund, Inc.

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Funds and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Funds pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Funds’ directors, as noted in the chart below, are “interested” persons of the Funds. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 89 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut, 06104-2999, except that correspondence to Ms. Fagely, Ms. Fleege, and Ms. Settimi may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, age, current position with the Funds and date first elected or appointed to Hartford Series Fund, Inc. (“SF”) and Hartford HLS Series Fund II, Inc. (“SF2”), principal occupation, and, for directors, other directorships held. The Funds’ statement of additional information contains further information on the directors and is available free of charge by calling 1-800-862-6668 or writing to Hartford HLS Funds, c/o Individual Annuity Services, P.O. Box 5085, Hartford, CT 06102-5085.

Information on the aggregate remuneration paid to the directors by each Fund can be found in the Statements of Operations herein. The Funds pay a portion of the Chief Compliance Officer’s compensation, but otherwise do not pay salaries or compensation to any of their officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (age 61) Director since 2003, Chairman of the Litigation Committee; Co-Chairman of the Investment Committee

Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (age 67) Director since 2002 (SF) and 1986 (SF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (age 62) Director since 2001 (SF) and 2002 (SF2), Chairman of the Nominating Committee

Mr. Hill is a Partner of TSG Ventures L.P., a private equity investment company. Mr. Hill is a former partner of TSG Capital Group, a private equity investment firm that serves as sponsor and lead investor in leveraged buyouts of middle market companies.

Sandra S. Jaffee (age 66) Director since 2005

Ms. Jaffee is Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (age 63) Director since 2005, Chairman of the Compliance Committee

In June 2006, Mr. Johnston was appointed as Senior Advisor to The Carlyle Group, a global private equity investment firm. In May 2006, Mr. Johnston was elected to the Supervisory Board of Fresenius Medical Care AG & Co. KGaA, after its acquisition of Renal Care Group, Inc. in March 2006. Mr. Johnston joined Renal Care Group in November 2002 as a member of the Board of Directors and served as Chairman of the Board from March 2003 through March 2006. From September 1987 to December 2002, Mr. Johnston was with Equitable Securities Corporation (and its successors, SunTrust Equitable Securities and SunTrust Robinson Humphrey) serving in various investment banking and managerial positions, including Managing Director and Head of Investment Banking, Chief Executive Officer and Vice Chairman.

Phillip O. Peterson (age 63) Director since 2002 (SF) and 2000 (SF2), Chairman of the Audit Committee

Mr. Peterson is a mutual fund industry consultant. He was a partner of KPMG LLP (an accounting firm) until July 1999. Mr. Peterson joined William Blair Funds in February 2007 as a member of the Board of Trustees. From January 2004 to April 2005, Mr. Peterson served as Independent President of the Strong Mutual Funds.

Lemma W. Senbet (age 61) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

­ ­  74  ­ ­

Interested Directors and Officers

Thomas M. Marra (age 49) Director since 2002

Mr. Marra is President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”). He is also a member of the Board of Directors for The Hartford. Mr. Marra was named President and COO of The Hartford in 2007. He has served as COO of Hartford Life, Inc. from 2000 as President of Hartford Life, Inc. since 2002, and as Director of Hartford Life, Inc.’s Investment Products Division from 1998 to 2000.

Lowndes A. Smith (age 68) Director since 1996 (SF) and 2002 (SF2), Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002.

David M. Znamierowski (age 47) Director since 1999 (SF) and 2005 (SF2)

Mr. Znamierowski currently serves as Director and President of Hartford Investment Management Company (“Hartford Investment Management”), as Chief Investment Officer and Executive Vice President for The Hartford and Hartford Life, Inc., as Director, Chief Investment Officer and Executive Vice President of Hartford Life Insurance Company (“Hartford Life”) and as Chief Investment Officer for Hartford Administrative Services Company (“HASCO”).

Other Officers

Robert M. Arena, Jr. (age 39) Vice President since 2006

Mr. Arena serves as Senior Vice President of Hartford Life and heads its Retail Product Management Group in the U.S. Wealth Management Division. Additionally, Mr. Arena is Director and Senior Vice President of HASCO, Manager and Senior Vice President/Business Line Principal of Hartford Investment Financial Services, LLC (“HIFSCO”) and Manager and Senior Vice President of HL Investment Advisors LLC, (“HL Advisors”). Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Scandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (age 49) Vice President, Treasurer, and Controller since 1993

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition she is Controller and Chief Financial Officer of HIFSCO.

Susan Fleege (age 48) Anti-Money Laundering (“AML”) Compliance Officer since 2005

Ms. Fleege has served as Chief Compliance Officer for HASCO since 2005 and for Hartford Investor Services Company, LLC, (“HISC”) since 2006. She also serves as the AML Compliance Officer for HASCO and HISC. Prior to joining Hartford Life in 2005, Ms. Fleege was Counsel for Ameriprise Financial Corporation from 2000 to 2005.

Thomas D. Jones, III (age 42) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (age 40) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (age 43) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and Director of its Investment Advisory Group in the U.S. Wealth Management Division. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

Denise A. Settimi (age 47) Vice President since 2005

Ms. Settimi currently serves as Chief Operating Officer and Assistant Vice President of HASCO. She is also Assistant Vice President of HIFSCO and Hartford Life. Previously, Ms. Settimi was with American Express Financial Advisors, where she was Director of Retirement Plan Services from 1997 to 2003.

John C. Walters (age 45) President since 2007¹

Mr. Walters currently serves as President of the U.S. Wealth Management Division and Director of Hartford Life, Inc. Mr. Walters also serves as Co-Chief Executive Officer, Co-President and Director of Hartford Life and Executive Vice President of The Hartford. Mr. Walters previously served as Executive Vice President and Director of the Investment Products Division of Hartford Life, Inc. Mr. Walters is also Chief Executive Officer, Manager and President of HIFSCO and HL Advisors. Previously, Mr. Walters was with First Union Securities.

¹  As of November 7, 2007

­ ­  75  ­ ­

Hartford Series Fund, Inc.

HOW TO OBTAIN A COPY OF THE FUNDS’ PROXY VOTING POLICIES AND PROXY VOTING RECORDS (UNAUDITED)

A description of the policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities and a record of how the Funds voted any proxies for the twelve-month period ended June 30, 2007 is available (1) without charge, upon request, by calling 800-862-6668 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION (UNAUDITED)

The Funds file a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Form N-Q will be available (1) without charge, upon request, by calling 800-862-6668 and (2) on the Securities and Exchange Commission’s website at www.sec.gov. The Forms N-Q may be reviewed and copied at the Securities and Exchange Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-202-551-8090.

SHAREHOLDER MEETING RESULTS (UNAUDITED)

The following proposal was addressed and approved during the period at a special meeting of shareholders held on September 25, 2007.

Proposal to approve a plan of reorganization providing for the acquisition of all of the assets and liabilities of Hartford International Stock HLS Fund (the “Acquired Fund”) by Hartford International Opportunities HLS Fund (the “Acquiring Fund”) solely in exchange for shares of the Acquiring Fund, followed by the complete liquidations of the Acquired Fund.

Fund	For		Against		Abstain
Hartford International Stock HLS Fund		4,603,436.242		186,436.010		451,576.359

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Hartford Series Fund, Inc.

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs(in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of June 30, 2007 through December 31, 2007.

Actual Expenses

The first line of the table below provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6, then multiply the result by the number in the first line under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line of the table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would be higher.

Expenses are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid
	Beginning		Ending		during the period		Beginning		Ending		during the period					Days
	Account		Account		June 30, 2007		Account		Account		June 30, 2007		Annualized			in the		Days
	Value		Value		through		Value		Value		through		expense			current		in the
	June 30, 2007		December 31, 2007		December 31, 2007		June 30, 2007		December 31, 2007		December 31, 2007		ratio			1/2 year		full year
Hartford Advisers HLS Fund
Class IA	$	1,000.00	$	990.21	$	3.16	$	1,000.00	$	1,022.03	$	3.21		0.63	%		184		365
Class IB	$	1,000.00	$	987.69	$	4.41	$	1,000.00	$	1,020.77	$	4.48		0.88	%		184		365
Hartford Capital Appreciation HLS Fund
Class IA	$	1,000.00	$	1,044.82	$	3.45	$	1,000.00	$	1,021.83	$	3.41		0.67	%		184		365
Class IB	$	1,000.00	$	1,042.23	$	4.74	$	1,000.00	$	1,020.57	$	4.69		0.92	%		184		365
Hartford Dividend and Growth HLS Fund
Class IA	$	1,000.00	$	988.79	$	3.36	$	1,000.00	$	1,021.83	$	3.41		0.67	%		184		365
Class IB	$	1,000.00	$	986.27	$	4.61	$	1,000.00	$	1,020.57	$	4.69		0.92	%		184		365
Hartford International Opportunities HLS Fund
Class IA	$	1,000.00	$	1,143.62	$	3.84	$	1,000.00	$	1,021.63	$	3.62		0.71	%		184		365
Class IB	$	1,000.00	$	1,140.91	$	5.18	$	1,000.00	$	1,020.37	$	4.89		0.96	%		184		365
Hartford Money Market HLS Fund
Class IA	$	1,000.00	$	1,022.05	$	2.14	$	1,000.00	$	1,023.09	$	2.14		0.42	%		184		365
Class IB	$	1,000.00	$	1,019.51	$	3.41	$	1,000.00	$	1,021.83	$	3.41		0.67	%		184		365
Hartford Small Company HLS Fund
Class IA	$	1,000.00	$	1,014.53	$	3.61	$	1,000.00	$	1,021.63	$	3.62		0.71	%		184		365
Class IB	$	1,000.00	$	1,011.98	$	4.87	$	1,000.00	$	1,020.37	$	4.89		0.96	%		184		365
Hartford Stock HLS Fund
Class IA	$	1,000.00	$	957.82	$	2.47	$	1,000.00	$	1,022.68	$	2.55		0.50	%		184		365
Class IB	$	1,000.00	$	955.34	$	3.70	$	1,000.00	$	1,021.42	$	3.82		0.75	%		184		365

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Hartford Series Fund, Inc.

Expense Example (Unaudited) — (continued)

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid
	Beginning		Ending		during the period		Beginning		Ending		during the period					Days
	Account		Account		June 30, 2007		Account		Account		June 30, 2007		Annualized			in the		Days
	Value		Value		through		Value		Value		through		expense			current		in the
	June 30, 2007		December 31, 2007		December 31, 2007		June 30, 2007		December 31, 2007		December 31, 2007		ratio			1/2 year		full year
Hartford Total Return Bond HLS Fund
Class IA	$	1,000.00	$	1,036.38	$	2.57	$	1,000.00	$	1,022.68	$	2.55		0.50	%		184		365
Class IB	$	1,000.00	$	1,033.80	$	3.84	$	1,000.00	$	1,021.42	$	3.82		0.75	%		184		365

­ ­  78  ­ ­

Hartford Series Fund, Inc.

Approval of Investment Management, Investment Advisory and Amended Investment Sub-Advisory Agreements (Unaudited)

Section 15(c) of the Investment Company Act of 1940, as amended (the “1940 Act”), requires that each mutual fund’s board of directors, including a majority of those directors who are not “interested persons” of the mutual fund, as defined in the 1940 Act (“Independent Directors”), annually review and consider the continuation of the mutual fund’s investment advisory and sub-advisory agreements after an initial two year period.

At a meeting held on August 7-8, 2007, the Board of Directors (the “Board”) of the Funds, including each of the Independent Directors, unanimously voted to approve the investment management agreement for each Fund with an agreement up for renewal with HL Investment Advisors, LLC (“HL Advisors”) and the investment sub-advisory agreements between HL Advisors and each Fund’s respective sub-adviser(s) (“sub-advisers,” and together with HL Advisors, “advisers”) — Hartford Investment Management Company (“Hartford Investment Management”), Lazard Asset Management LLC (“Lazard”), and Wellington Management Company, LLP (“Wellington”) (collectively, the “agreements”). In the months preceding this meeting, the Board requested, received, and reviewed written responses from the advisers to questions posed to them on behalf of the Independent Directors and supporting materials relating to those questions and responses. In addition, the Board received in-person presentations about each Fund and the related agreements by Fund officers and representatives of HL Advisors at the Board’s meetings on June 19-20, 2007 and August 7-8, 2007. In considering the approval of the agreements, the Board also took into account information provided to the Board at its meetings throughout the year, including reports on Fund performance, compliance, shareholder services, and the other services provided to the Funds by the advisers and their affiliates.

The Independent Directors, advised by independent legal counsel, engaged two service providers to assist them with evaluating the agreements with respect to each Fund. Lipper, Inc. (“Lipper”), an independent provider of investment company data, was retained to provide the Board with reports on how each Fund’s management fees, administrative fees, overall expense ratios, and investment performance compared to those of mutual funds with similar investment objectives in various peer groups (“peer funds”). The Independent Directors also engaged an independent financial services consulting firm (the “Consultant”) to assist them in evaluating each Fund’s advisory fees, administrative fees, overall expense ratios and investment performance.

The Board considered the agreements for each Fund at the June and August meetings. In connection with these deliberations, HL Advisors agreed to continue the voluntary management fee waiver with respect to a Fund. In determining to continue the agreements for each Fund, the Board determined that the proposed management fee structure, taking into account these revisions, was fair and reasonable and that continuation of the agreements was in the best interests of each Fund and its shareholders. In determining to re-approve the agreements, the Board considered the following categories of material factors, among others, relating to the agreements.

Nature, Extent and Quality of Services

The Board requested and considered information concerning the nature, extent, and quality of the services provided to the Funds by the advisers. The Board considered, among other things, the terms of the agreements, the range of services provided, and each adviser’s organizational structure, systems and personnel.¹ The Board received information on the experience of senior management and relevant investment and other personnel of the advisers, and the adequacy of the time and attention devoted by them to the Funds. The Board considered each adviser’s reputation and overall financial strength, as well as its willingness to consider and implement organizational and operational changes, including hiring additional personnel, designed to improve services to the Funds, and its investments in infrastructure in light of increased regulatory requirements and other developments. The Board considered the progress that Hartford Investment Management has made in developing an equity management capability. In addition, the Board considered the quality of each adviser’s communications with the Board and responsiveness to Board inquiries.

The Board also requested and evaluated information concerning each adviser’s regulatory and compliance environment. In this regard, the Board requested and reviewed information on each adviser’s compliance policies and procedures, their compliance history, and a report from the Funds’ Chief Compliance Officer on each adviser’s compliance with applicable laws and regulations, including their responses to regulatory developments and compliance issues raised by regulators. The Board also noted the advisers’ support of the Funds’ compliance control structure, particularly the resources devoted by the advisers in support of the Funds’ obligations pursuant to Rule 38a-1 under the 1940 Act.

With respect to HL Advisors, the Board noted that under the agreements, HL Advisors is responsible for the management of each Fund, including overseeing fund operations and service providers, and Hartford Life provides administrative services to the Funds, as well as the investment advisory services in connection with selecting, monitoring and supervising sub-advisers. The Board considered its experiences with HL Advisors and Hartford Life with respect to each of these services. The Board considered that HL Advisors or its affiliates is responsible for providing the Funds’ officers and paying their salaries and expenses. In addition, the Board considered the nature and quality of the services provided to the Funds and their shareholders by HL Advisors’ affiliates.

With respect to the sub-advisers, who provide day-to-day portfolio management services, the Board considered the quality of each sub-adviser’s investment personnel, their ability to attract and retain qualified investment professionals, their investment philosophy and process, investment research capabilities and resources, performance record, trade execution capabilities and experience.

Based on these considerations, the Board concluded that it was satisfied with the nature, extent and quality of the services provided to the Funds by HL Advisors and each of the sub-advisers.

Performance of the Funds, HL Advisors, and the Sub-Advisers

The Board considered the investment performance of each Fund. In this regard, the Board considered information and materials provided to the Board from HL Advisors and Lipper comparing each Fund’s short-term and long-term and recent investment performance over various periods of time with appropriate benchmark indices, and with a performance universe of funds selected by Lipper. This information included performance reports (provided by Lipper and HL Advisors) and discussions with portfolio managers and other representatives of the sub-advisers at Board meetings throughout the year, as well as the information provided especially for the annual contract review. The Board also considered the analysis provided by the Consultant relating to each Fund’s performance track record.

¹ The Funds have entered into investment management agreements with HL Advisors for investment advisory services, and a separate administrative agreement with Hartford Life Insurance Company (“Hartford Life”), under which Hartford Life provides certain administrative services to the Funds. The Board considered the fees payable under both agreements in the aggregate.

­ ­  79  ­ ­

Hartford Series Fund, Inc.

Approval of Investment Management, Investment Advisory and Amended Investment Sub-Advisory Agreement (Unaudited) — (continued)

The Board considered HL Advisors’ cooperation with the Investment Committee, which assists the Board in evaluating the performance of the Funds at periodic meetings throughout the year. The Board reviewed the performance of each Fund over the different time periods presented in the materials and evaluated each adviser’s analysis of the Funds’ performance for these time periods, with specific attention to information indicating underperformance of certain funds for specific time periods relative to a peer group or benchmark, and the causes for such underperformance. In evaluating the performance of each Fund, the Board also considered whether the Fund had been in operation for a sufficient time period to establish a meaningful performance track record.

The Board considered actions HL Advisors has taken to address performance. In particular, the Board considered HL Advisors’ initiatives over the course of the year to change portfolio managers with respect to the certain Funds in order to address performance. With respect to the International Stock HLS Fund, sub-advised by Lazard, the Board considered HL Advisors’ plan to seek shareholder approval in September 2007 with respect to a plan of reorganization by which the International Stock HLS Fund would be merged into the International Opportunities HLS Fund, sub-advised by Wellington. Due to the timing of this proposed reorganization, the Board concluded that it would be in the best interests of each Fund’s shareholders to renew the existing sub-advisory agreement for these Funds while HL Advisors sought shareholder approval of the reorganization.

Based on these considerations, the Board concluded with respect to each Fund that the Fund’s performance over time has been satisfactory or, in the case of the International Stock HLS Fund, that HL Advisors is addressing the Board’s concerns about investment performance, and the Board had continued confidence in HL Advisors’ and the sub-advisers’ overall capabilities to manage each Fund.

Costs of the Services and Profitability of HL Advisors and the Sub-Advisers

The Board reviewed information regarding HL Advisors’ cost to provide investment management and related services to the Funds and HL Advisors’ profitability, both overall and for each Fund, on a pre-tax basis without regard to distribution expenses. The Board considered the fact that HL Advisors has subsidized a Fund’s fees and total operating expenses through a voluntary management fee waiver. The Board also requested and reviewed information about the profitability to HL Advisors and its affiliates from all services provided to the Funds and all aspects of their relationship with the Funds. The Board noted that HL Advisors represented that the profitability information was calculated using the same methodology used by HL Advisors in 2006, a methodology which had been refined in 2006 as part of an independent third party review.

With respect to those Funds which are sub-advised by Hartford Investment Management, which is an affiliate of HL Advisors, the Board considered the costs and profitability information for HL Advisors and Hartford Investment Management in the aggregate. The Board also requested and received information relating to the operations and profitability of the other sub-adviser. In evaluating such sub-adviser’s profitability with respect to the Funds, the Board considered primarily HL Advisors’ and the sub-adviser’s representations that HL Advisors had negotiated the sub-advisory fees at arm’s length, and the sub-adviser’s representations that the fees charged to HL Advisors were comparable to fees charged by the sub-advisers to similar clients.

Based on these considerations, the Board concluded that the profits anticipated to be realized by the advisers and their affiliates from their relationships with the Funds would not be excessive.

Comparison of Fees and Services Provided by HL Advisors and the Sub-Advisers

The Board considered comparative information with respect to the investment management fees and administrative fees to be paid by the Funds to HL Advisors and its affiliates, the investment sub-advisory fees to be paid to the sub-advisers, and the total expense ratios of the Funds. In this regard, the Board requested and reviewed information from HL Advisors and each sub-adviser relating to the management fees, administrative fees, sub-advisory fees, and total operating expenses for each Fund. The Board also reviewed written materials from Lipper providing comparative information about each Fund’s management fees, administrative fees and total expense ratios and the components thereof, relative to those of peer groups. While the Board recognized that comparisons between the Funds and peer funds are imprecise, given the differing service levels and characteristics of mutual funds, and the different business models and cost structures of advisers, the comparative information provided by Lipper assisted the Board in evaluating the reasonableness of each Fund’s management and sub-advisory fees and total operating expenses.

The Board particularly considered HL Advisors’ agreement to continue the voluntary management fee waiver with respect to a Fund. HL Advisors has agreed to the following fee revision, effective January 1, 2008:

Hartford Money Market HLS Fund: continue the 5 bps voluntary management fee waiver.

Based on these considerations, the Board concluded that each Fund’s fees and total operating expenses are within a range that is competitive with fees and total operating expenses charged by peer funds, and, in conjunction with the information about quality of services, profitability, economies of scale, and other matters discussed, are reasonable.

Economies of Scale

The Board requested and considered information regarding the advisers’ realization of economies of scale with respect to the Funds, and whether the fee levels reflect these economies of scale for the benefit of each Fund’s investors. With respect to HL Advisors, the Board considered representations from HL Advisors that it is difficult to anticipate whether and to what extent economies may be realized by HL Advisors as assets grow over time. The Board reviewed the breakpoints in the advisory fee schedule for each Fund and the administrative fee schedule for the Funds, which reduce fees as Fund assets grow over time. The Board recognized that Funds with assets beyond the last breakpoint level continue to benefit from economies of scale, because additional assets are charged the lowest breakpoint fee, resulting in lower overall effective management fee rates. The Board considered that certain Funds may achieve some economies as certain fixed expenses are spread over a larger asset base, noting that there is no precise way to measure such economies, and that certain expenses do not necessarily decrease as assets increase. The Board also considered that expense limitations and fee waivers that reduce Fund expenses at all asset levels can have the same effect as breakpoints in sharing economies of scale with shareholders, and that a schedule that reaches a lower breakpoint quickly provides shareholders with the benefit of anticipated or potential economies of scale.

­ ­  80  ­ ­

The Board reviewed and evaluated materials from Lipper showing how management fee schedules of peer funds reflect economies of scale for the benefit of investors as a peer fund’s assets hypothetically increase over time. Based on information provided by HL Advisors, Lipper, and the Consultant, the Board recognized that there is no uniform methodology for establishing breakpoints, or uniform pattern in asset levels that trigger breakpoints or the amounts of breakpoints triggered.

After considering all of the information available to it, the Board concluded that it was satisfied with the extent to which economies of scale would be shared for the benefit of each Fund’s investors, based on currently available information and the effective advisory fees and expense ratios for the Funds at their current and reasonably anticipated asset levels. The Board noted, however, that it would continue to monitor future growth in Fund assets and the appropriateness of additional breakpoints.

Other Benefits

The Board considered other benefits to the advisers and their affiliates from their relationships with the Funds, including the role of the Funds in supporting the variable life insurance and variable annuity products offered by The Hartford. The Board reviewed information noting that Hartford Life, an affiliate of HL Advisors, receives fees from the Funds for providing certain administrative services for the Funds, and that Hartford Life also receives fees for fund accounting and related services from each of the Funds, and the Board considered information on expected profits to Hartford Life or its affiliates for such services. The Board considered the fact that Hartford Life had agreed to implement a new accounting services fee structure for the Funds with breakpoints. Based upon estimated expense information, this change will result in savings to Hartford-sponsored funds of approximately $250,000 per year.

The Board also considered that Hartford Investor Services Company, LLC (“HISC”), the Funds’ transfer agent and an affiliate of HL Advisors, receives transfer agency compensation from the Funds, and the Board reviewed information on the expected profitability of the Funds’ transfer agency function to HISC. The Board considered information provided by HL Advisors indicating that the fees charged by HISC to the Funds are reasonable and in line with industry standards.

The Board also considered that Hartford Securities Distribution Company, Inc. (“HSDC”), as principal underwriter of the Funds, receives 12b-1 fees from the Funds. The Board also noted that certain affiliates of HL Advisors distribute shares of the Funds and receive compensation in that connection.

The Board considered benefits to the sub-advisers from their proposed use of the Funds’ brokerage commissions to obtain soft dollar research, and representations from HL Advisors and the sub-advisers that the sub-advisers would not be making revenue-sharing or other payments to HL Advisors or its affiliates in connection with the distribution of the Funds.

The Board considered the benefits to shareholders of being part of the Hartford family of funds. The Board considered HL Advisors’ efforts to provide investors in the family with a broad range of investment styles and asset classes, and its entrepreneurial risk in initiating new funds to expand these opportunities for shareholders.

* * * *

Based upon its review of these various factors, among others, the Board concluded that it is in the best interests of the Funds and their shareholders for the Board to approve the agreements for an additional year. In reaching this decision, the Board did not assign relative weights to the factors discussed above or deem any one or group of them to be controlling in and of themselves. In connection with their deliberations, the Independent Directors met separately in executive session on several occasions, with independent legal counsel, to review the relevant materials and consider their responsibilities under relevant laws and regulations.

­ ­  81  ­ ­

Annual Report December 31, 2007
­ ­                                                     ­ ­

• Manager Discussions

• Financials

Hartford Global Growth HLS Fund inception 9/30/1998

(formerly Hartford Global Leaders HLS Fund)

(subadvised by Wellington Management Company, LLP)

Investment objective — Seeks growth of capital.

Performance Overview¹ 9/30/98 - 12/31/07
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 Returns² (as of 12/31/07)

	1			5			Since
	Year			Year			Inception
Global Growth IA		25.05	%		18.80	%		12.31	%
Global Growth IB		24.74	%		18.50	%		12.06	%
MSCI World Growth Index		15.12	%		15.83	%		5.67	%

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)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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
Vice President	Senior Vice President, Partner	Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of Hartford Global Growth HLS Fund returned 25.05% for the twelve-month period ended December 31, 2007, outperforming its benchmark, the MSCI World Growth Index, which returned 15.12% for the same period. The Fund also outperformed the 12.32% 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?

Global equity markets posted strong returns during the period despite the volatility that emerged in the latter part of the year due to concerns associated with the U.S. subprime mortgage market and slowing U.S. growth. Growth stocks outperformed value stocks as measured by the Russell 1000 Growth Index, which returned +11.81% versus the Russell 1000 Value Index return of -0.17% during the period. Non-U.S. markets (+11.63%) generally outperformed the U.S. (+5.49%) as measured by the MSCI EAFE Index and S&P 500 Index, respectively. Nine out of ten sectors in the MSCI World Growth Index rose. Materials (+41%), Energy (+38%), and Utilities (+27%) led returns, while Consumer Discretionary (-2%), Financials (+2%), and Health Care (+4%) trailed the broader market.

Security selection was positive in eight of the ten broad economic sectors and was the main driver of the Fund’s outperformance during the period. Stock selection was particularly strong in the Information Technology, Financials, and Industrials sectors, slightly offset by weaker selection in Consumer Discretionary and Telecommunication Services. Sector allocation decisions, a result of bottom-up (i.e. stock by stock fundamental research) stock selection, had a modest negative impact on relative (i.e. performance of the Fund as measured against the benchmark) returns. Detracting from returns was our underweight (i.e. the Fund’s sector position was less than the benchmark position) allocation to the Materials sector and overweight (i.e. the Fund’s sector position was greater than the benchmark position) to the Financials sector. This was partially offset by our underweight position in Consumer Discretionary stocks and an overweight in Energy stocks.

The leading contributors to both relative and absolute (i.e. total return) performance during the year were Nintendo (Information Technology), Research in Motion (Information Technology), and Monsanto (Materials). Japanese video game developer Nintendo continues to experience positive sales trends for its Wii gaming console. The addressable market is larger than expected due to the product’s ease of

1

use. Shares of consumer electronic device company Research in Motion moved higher with expectations of market share gains. Shares of Monsanto, a global provider of agricultural products, rose as the company is benefiting from a strong agricultural cycle. The company has a robust pipeline and strong outlook. We continued to hold positions in all three stocks at the end of the period.

Relative and absolute performance was hurt by our holdings in Comcast (Consumer Discretionary), Rakuten (Consumer Discretionary), and Orix (Financials). Shares of Comcast, a provider of cable, Internet, and phone services, fell after the company reported weak earnings due to increased competition from phone companies and satellite television providers. We eliminated the security. Japanese online retailer and brokerage firm Rakuten reported results that were below expectations, due to margin pressure resulting from higher overhead costs. The brokerage and credit business segments also performed below expectations. We eliminated our position. Shares of the Japanese financial services company Orix fell due to disappointing earnings and its modest exposure to the U.S. subprime mortgage market. We eliminated our holding in the security.

What is the outlook?

As a result of bottom-up fundamental research, the Fund’s largest overweight positions at the end of the period relative to its benchmark were Information Technology, Financials, and Telecommunication Services. Within the Technology sector we favor software & services companies Google and Nintendo, which are among our top holdings. The Fund’s largest underweight positions were the Consumer Discretionary and Staples sectors along with Health Care. Within Consumer Discretionary, we continue to underweight companies with large exposure to U.S. consumers as we believe that discretionary spending may slow further in the U.S.

During the twelve-month period ended December 31, 2007, James H. Averill, a portfolio manager of the Fund, retired from Wellington Management Company and withdrew from active involvement in the Fund effective June 1, 2007.

Diversification by Industry

as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		6.5	%
Capital Goods		4.6
Consumer Cyclical		7.4
Consumer Staples		4.4
Energy		7.4
Finance		14.1
Health Care		7.0
Services		3.4
Technology		35.1
Transportation		2.4
Utilities		6.2
Short-Term Investments		13.5
Other Assets and Liabilities		(12.0	)
Total		100.0	%

Diversification by Country

as of December 31, 2007

	Percentage
Country	Net Assets
Austria		0.5	%
Bermuda		1.3
Brazil		1.5
Canada		4.4
China		4.5
Denmark		1.1
Finland		1.7
France		3.5
Germany		5.7
Greece		1.1
Hong Kong		1.7
Ireland		2.0
Japan		4.4
Luxembourg		1.8
Mexico		1.1
Netherlands		1.0
South Korea		0.8
Spain		3.6
Switzerland		5.8
Taiwan		1.1
United Kingdom		7.3
United States		42.6
Short-Term Investments		13.5
Other Assets and Liabilities		(12.0	)
Total		100.0	%

2

Hartford Growth Opportunities HLS Fund inception 3/24/1987

(subadvised by Wellington Management Company, LLP)
Investment objective — Seeks capital appreciation.

Hartford Growth Opportunities HLS Fund

Performance Overview¹12/31/97 - 12/31/07

Growth of $10,000 investment

Russell 1000 Growth Index is an unmanaged index that 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 Returns²(as of 12/31/07)

	1 Year			5 Year			10 Year
Growth Opportunities IA		29.65	%		23.28	%		11.80	%
Growth Opportunities IB		29.33	%		22.97	%		11.53	%
Russell 1000 Growth Index		11.81	%		12.11	%		3.83	%
Russell 3000 Growth Index		11.40	%		12.42	%		3.83	%

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.

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
Senior Vice President, Partner	Vice President

How did the Fund perform?

The Class IA shares of Hartford Growth Opportunities HLS Fund returned 29.65% for the twelve-month period ended December 31, 2007, versus the returns of 11.40% for the Russell 3000 Growth Index and 11.81% for the Russell 1000 Growth Index. The Fund also outperformed the 12.70% 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?

As measured by the Russell 3000 Growth Index, U.S. growth stocks ended broadly higher for the fifth fiscal year in a row, despite significant volatility during the summer. Seven of ten sectors in the benchmark posted positive returns for the period, led by Materials (+37%), Energy (+34%), Utilities (+28%), and Information Technology (+18%). The laggards in this environment were Consumer Discretionary (-10%) and Telecommunications Services (-4%).

The Fund outperformed by maintaining its focus on stock selection, which was additive in nine of ten economic sectors. Selection was particularly strong in Materials, Consumer Discretionary, Health Care, and Information Technology. Utilities was the sole sector with negative selection. Sector weightings, the result of bottom-up (i.e. stock by stock fundamental research) stock selection decisions, also contributed to relative (i.e. performance of the Fund as measured against the benchmark) performance, primarily due to an overweight (i.e. the Fund’s sector position was greater than the benchmark position) to the Materials and Energy sectors and an underweight (i.e. the Fund’s sector position was less than the benchmark position) in Financials, which trailed during the period.

Suntech Power (Industrials), Research In Motion (Information Technology), Sunpower (Industrials) and Potash (Materials), were

3

among the top contributors to relative and absolute (i.e. total return) performance during the period. Shares of China-based solar energy products and services company Suntech Power rose sharply after higher-than-expected quarterly earnings led to upward earnings revisions. We believe that above-consensus production and pricing could lead to strong earnings going forward. Shares of Canadian communications device company Research In Motion moved higher with expectations of market share gains because of strong demand for its Curve, 8800, 8700, and Pearl devices, which are driving sales and earnings faster than expected. We eliminated the position into strength. Solar electric power products and services company Sunpower saw its shares appreciate as investors gained confidence in the firm’s earnings potential given its high-efficiency technology and leading edge production advancements. We expect that management’s strategy to integrate with some of its suppliers could drive margins higher over time. Canadian agricultural products firm Potash reported record earnings, as increasing end-market demand resulted in tight global capacity utilization rates at potash producers. Given the strong appreciation in the shares, we eliminated our position. Other top contributors to relative and absolute returns included global engineering and construction services company Foster Wheeler and British mining company Rio Tinto.

Network Appliance (Information Technology), Kohl’s (Consumer Discretionary), and Jarden (Consumer Discretionary) were the top detractors from relative and absolute performance during the period. Network Appliance, a supplier of storage and data management solutions, is facing slowing growth and a potentially sluggish outlook for enterprise spending. We reduced our position. Specialty department store company Kohl’s saw its shares decline with disappointing same-store-sales trends and investor concerns about overall consumer spending. We believe that new store growth and margin expansion opportunities could benefit the shares going forward and maintain a position in the stock. Shares in small appliance and consumer goods company Jarden retreated with investor concerns about slowing consumer spending. We maintain a position based on the firm’s strong lineup of branded products and potential margin upside. Other detractors from relative and absolute results included retailer Dollar Tree Stores, communications company NII holdings, and consumer products company Liz Claiborne.

What is the outlook?

While global economic growth appears to be on track, there clearly has been a deceleration in the U.S. Overall, the inflation picture is mixed, as the recovery in oil prices and increases in grain prices suggests increased pressure on inflation and interest rates. The biggest negatives in the economy are housing, which was overbuilt and is in the process of correcting, and tightening credit conditions. We continue to monitor the U.S. economy for signs of stress and have positioned the portfolio for a continued slowdown.

Positioning within the Fund is determined by fundamental, stock-by-stock research. At the end of the period, the Fund was most overweight in the Materials and Energy sectors and most underweight Consumer Staples and Financials stocks.

During the twelve-month period ended December 31, 2007, the Russell 1000 Growth Index was added as an additional benchmark for the Fund, effective September 28, 2007.

Diversification by Industry

as of December 31, 2007

	Percentage
Industry	Net Assets
Basic Materials		13.7	%
Capital Goods		6.7	%
Consumer Cyclical		7.8
Consumer Staples		1.3
Energy		9.7
Finance		9.5
Health Care		9.7
Services		6.2
Technology		30.6
Utilities		3.3
Short-Term Investments		10.4
Other Assets and Liabilities		(8.9	)
Total		100.0	%

4

Hartford Global Growth HLS Fund (formerly Hartford Global Leaders HLS Fund)

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 98.5%
		Basic Materials — 6.5%
	477	BHP Billiton plc (A)	$	14,545
	300	Cameco Corp.		11,923
	398	Companhia Vale do Rio Doce ADR		12,990
	99	Potash Corp. of Saskatchewan		14,252
	156	Praxair, Inc.		13,856
	269	Xstrata plc (A)		18,882
				86,448
		Capital Goods — 4.6%
	94	Alstom RGPT (A)		20,149
	151	Boeing Co.		13,180
	305	Gamesa Corporacion Tecnologica S.A. (A)		14,093
	130	Vestas Wind Systems A/S (A)(D)		14,086
				61,508
		Consumer Cyclical — 7.4%
	522	Arcandor AG (A)(D)(G)		12,472
	3,591	China Communications Construction Co., Ltd. (A)		9,284
	172	Daimler AG (A)		16,697
	95	LG Electronics, Inc. (A)(D)		10,081
	52	Nintendo Co., Ltd. (A)		30,767
	2,021	Tesco plc (A)		19,222
				98,523
		Consumer Staples — 4.4%
	3	Japan Tobacco, Inc. (A)		15,450
	48	Nestle S.A. (A)		22,027
	364	Reckitt Benckiser Group plc (A)		21,143
				58,620
		Energy — 7.4%
	115	Diamond Offshore Drilling, Inc. (G)		16,316
	217	Schlumberger Ltd.		21,297
	712	Seadrill Ltd. (A)(D)(G)		17,193
	230	Suncor Energy, Inc. (G)		25,158
	252	Ultra Petroleum Corp. (D)		18,011
				97,975
		Finance — 14.1%
	2,059	Alibaba.com Ltd. (D)(G)		7,301
	521	Bolsa De Mercadorias e Futuros (D)		7,319
	2,845	China Merchants Bank Co., Ltd. (A)		11,446
	110	Deutsche Boerse AG (A)(G)		21,807
	93	Erste Bank Der Oesterreichischen Sparkassen AG (A)		6,593
	62	Goldman Sachs Group, Inc.		13,355
	935	Invesco Ltd.		29,332
	265	Julius Baer Holding Ltd. (A)		21,756
	2,047	Man Group plc (A)		23,239
	499	MF Global Ltd. (D)		15,710
	210	National Bank of Greece (A)		14,372
	699	Sun Hung Kai Properties Ltd. (A)		14,681
				186,911
		Health Care — 7.0%
	695	Elan Corp. plc ADR (D)		15,278
	360	Gilead Sciences, Inc. (D)		16,577
	233	Monsanto Co.		26,064
	670	Schering-Plough Corp.		17,838
	413	St. Jude Medical, Inc. (D)		16,797
				92,554
		Services — 3.4%
	342	Cognizant Technology Solutions Corp. (D)		11,621
	258	Focus Media Holding Ltd. ADR (D)(G)		14,669
	185	Las Vegas Sands Corp. (D)(G)		19,064
				45,354
		Technology — 35.1%
	685	ABB Ltd. (A)		19,751
	235	America Movil S.A.B. de C.V. ADR		14,408
	297	American Tower Corp. Class A (D)		12,636
	122	Apple, Inc. (D)		24,186
	403	ASML Holding N.V. (A)		12,713
	435	Broadcom Corp. Class A (D)		11,379
	795	Cisco Systems, Inc. (D)		21,512
	718	Corning, Inc.		17,232
	240	Danaher Corp.		21,093
	553	Electronic Arts, Inc. (D)		32,283
	69	Google, Inc. (D)		47,505
	274	Hewlett-Packard Co.		13,811
	191	Hologic, Inc. (D)		13,117
	2,430	Hon Hai Precision Industry Co., Ltd. (A)		14,975
	388	Logitech International S.A. (A)(D)		14,181
	662	MetroPCS Communications, Inc. (D)(G)		12,876
	452	Microsoft Corp.		16,088
	199	Millicom International Cellular S.A. (D)(G)		23,494
	598	Nokia Corp.		22,953
	958	Oracle Corp. (D)		21,627
	436	Qualcomm, Inc.		17,153
	67	Research In Motion Ltd. (D)		7,598
	158	Siemens AG (A)(G)		25,070
	441	Sumco Corp. (A)(G)		12,532
	512	Telefonica S.A. (A)		16,599
				466,772
		Transportation — 2.4%
	228	General Dynamics Corp.		20,290
	286	Ryanair Holdings plc ADR (D)(G)		11,268
				31,558
		Utilities — 6.2%
	2,095	Iberdrola Renovables (D)		17,305
	105	Sunpower Corp. (D)(G)		13,730
	302	Suntech Power Holdings Co., Ltd. ADR (D)(G)		24,836
	289	Veolia Environment S.A. (A)(G)		26,307
				82,178
		Total common stock (cost $983,406)	$	1,308,401

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

­ ­  5  ­ ­

Principal
Amount
SHORT-TERM INVESTMENTS — 13.5%
		Repurchase Agreements — 1.9%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $6,028, collateralized by FNMA 5.00%, 2035, value of $6,147)
$	6,027	4.50% dated 12/31/2007			$	6,027
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $54, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $55)
	54	1.35% dated 12/31/2007				54
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $16,775, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $17,106)
	16,771	4.75% dated 12/31/2007				16,771
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $2,366, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $2,413)
	2,365	4.60% dated 12/31/2007				2,365
						25,217
Shares
		Securities Purchased with Proceeds from Security Lending — 11.6%
		Cash Collateral Reinvestment Fund:
	154,562	Navigator Prime Portfolio				154,562
		Total short-term investments (cost $179,779)			$	179,779
		Total investments (cost $1,163,185) (C)	112.0	%	$	1,488,180
		Other assets and liabilities	(12.0	)%		(159,549	)
		Total net assets	100.0	%	$	1,328,631

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 55.91% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $1,163,922 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	345,028
Unrealized Depreciation		(20,770	)
Net Unrealized Appreciation	$	324,258

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $512,113, which represents 38.54% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Danish Krone (Buy)	$	2,547	$	2,551		01/03/08	$	(4	)
Euro (Buy)		1,606		1,607		01/03/08		(1	)
Euro (Buy)		1,242		1,249		01/04/08		(7	)
							$	(12	)

 (W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Austria		0.5	%
Bermuda		1.3
Brazil		1.5
Canada		4.4
China		4.5
Denmark		1.1
Finland		1.7
France		3.5
Germany		5.7
Greece		1.1
Hong Kong		1.7
Ireland		2.0
Japan		4.4
Luxembourg		1.8
Mexico		1.1
Netherlands		1.0
South Korea		0.8
Spain		3.6
Switzerland		5.8
Taiwan		1.1
United Kingdom		7.3
United States		42.6
Short-Term Investments		13.5
Other Assets and Liabilities		(12.0	)
Total		100.0	%

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

­ ­  6  ­ ­

Hartford Growth Opportunities HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 98.5%
		Basic Materials — 13.7%
	327	Arch Coal, Inc. (G)		14,691
	472	Cameco Corp.		18,806
	562	Companhia Vale do Rio Doce ADR		18,371
	334	Consol Energy, Inc.		23,916
	160	FMC Corp.		8,714
	217	Freeport McMoRan Copper & Gold, Inc.		22,240
	415	Hercules, Inc.		8,030
	745	Jarden Corp. (D)		17,595
	2,476	Kingboard Chemical Holdings Ltd. (A)		14,628
	432	Owens-Illinois, Inc. (D)		21,374
	47	Rio Tinto plc ADR		19,609
	393	Steel Dynamics, Inc.		23,381
	173	United States Steel Corp.		20,905
				232,260
		Capital Goods — 6.7%
	235	Boeing Co.		20,579
	146	Cummins, Inc.		18,647
	237	Flowserve Corp.		22,785
	295	Honeywell International, Inc.		18,188
	388	Kennametal, Inc.		14,690
	457	Pall Corp.		18,434
				113,323
		Consumer Cyclical — 7.8%
	218	Altria Group, Inc.		16,446
	539	Dick’s Sporting Goods, Inc. (D)		14,949
	998	Gap, Inc.		21,229
	372	Kohl’s Corp. (D)		17,047
	485	Liz Claiborne, Inc.		9,865
	616	Newell Rubbermaid, Inc.		15,942
	309	PACCAR, Inc.		16,818
	537	Supervalu, Inc.		20,156
				132,452
		Consumer Staples — 1.3%
	598	Unilever N.V. NY Shares		21,811
		Energy — 9.7%
	727	Chesapeake Energy Corp.		28,494
	272	EOG Resources, Inc.		24,303
	119	Husky Energy, Inc.		5,372
	208	Lukoil ADR (G)		17,804
	315	Noble Corp.		17,795
	316	OAO Gazprom ADR		17,934
	104	Transocean, Inc.		14,852
	238	Ultra Petroleum Corp. (D)		17,031
	405	XTO Energy, Inc.		20,801
				164,386
		Finance — 9.5%
	302	Aetna, Inc.		17,452
	638	Aircastle Ltd.		16,785
	80	Blackrock, Inc. (G)		17,344
	685	Covanta Holding Corp. (D)		18,958
	851	Cyrela Brazil Realty S.A.		11,575
	587	Invesco Ltd. (G)		18,430
	362	UnitedHealth Group, Inc.		21,039
	204	Wellpoint, Inc. (D)		17,862
	858	Western Union Co.		20,837
				160,282
		Health Care — 9.7%
	484	Alkermes, Inc. (D)(G)		7,541
	437	Amylin Pharmaceuticals, Inc. (D)(G)		16,150
	408	Auxilium Pharmaceuticals, Inc. (D)(G)		12,248
	325	Cephalon, Inc. (D)(G)		23,336
	348	Charles River Laboratories International, Inc. (D)		22,879
	646	Elan Corp. plc ADR (D)		14,203
	288	Merck & Co., Inc.		16,747
	351	Pharmaceutical Product Development, Inc.		14,181
	917	Schering-Plough Corp.		24,429
	707	Shionogi & Co., Ltd. (A)		12,533
				164,247
		Services — 6.2%
	498	DreamWorks Animation SKG, Inc. (D)		12,719
	463	Focus Media Holding Ltd. ADR (D)(G)		26,326
	535	Iron Mountain, Inc. (D)		19,802
	117	Micros Systems (D)		8,187
	816	Tetra Technologies, Inc. (D)		17,542
	477	Viacom, Inc. Class B (D)		20,928
				105,504
		Technology — 30.6%
	862	Activision, Inc. (D)		25,595
	107	Apple, Inc. (D)		21,175
	282	BMC Software, Inc. (D)		10,058
	545	Citrix Systems, Inc. (D)		20,715
	424	Electronic Arts, Inc. (D)		24,743
	219	Equinix, Inc. (D)(G)		22,084
	507	FLIR Systems, Inc. (D)(G)		15,857
	152	Garmin Ltd. (G)		14,734
	65	Google, Inc. (D)		45,154
	343	Hewlett-Packard Co.		17,294
	375	Hologic, Inc. (D)(G)		25,726
	216	Lockheed Martin Corp.		22,757
	471	Logitech International S.A. (A)(D)		17,196
	511	McAfee, Inc. (D)		19,178
	296	MEMC Electronic Materials, Inc. (D)		26,211
	944	Microsoft Corp.		33,610
	643	Network Appliance, Inc. (D)		16,039
	412	Nuance Communications, Inc. (D)(G)		7,687
	235	NVIDIA Corp. (D)		7,993
	1,088	O2Micro International Ltd. ADR (D)		12,551
	1,115	Oracle Corp. (D)		25,183
	748	Qualcomm, Inc.		29,426
	427	SanDisk Corp. (D)		14,167
	194	Telefonica S.A. ADR		18,893
	614	VeriSign, Inc. (D)		23,081
				517,107
		Utilities — 3.3%
	168	Sunpower Corp. (D)(G)		21,880
	409	Suntech Power Holdings Co., Ltd. ADR (D)(G)		33,685
				55,565
		Total common stock (cost $1,398,605)	$	1,666,937

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

­ ­  7  ­ ­

					Market
Shares					Value (W)
SHORT-TERM INVESTMENTS — 10.4%
		Repurchase Agreements — 1.5%
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $6,256, collateralized by FNMA 5.00%, 2035, value of $6,380)
$	6,255	4.50% dated 12/31/2007			$	6,255
		Deutsche Bank Securities Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $56, collateralized by U.S. Treasury Bill, 3.24%, 2008, value of $58)
	56	1.35% dated 12/31/2007				56
		Deutsche Bank Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $17,410, collateralized by FHLMC 5.00% — 6.50%, 2017 — 2037, value of $17,754)
	17,405	4.75% dated 12/31/2007				17,405
		JP Morgan Chase TriParty Joint Repurchase Agreement (maturing on 01/02/2008 in the amount of $2,455, collateralized by FHLMC 5.50% — 6.00%, 2017 — 2035, FNMA 5.00%, 2035, value of $2,504)
	2,455	4.60% dated 12/31/2007				2,455
						26,171
Shares
		Securities Purchased with Proceeds from Security Lending — 8.9%
		Cash Collateral Reinvestment Fund:
	150,093	Goldman Sachs FS Prime Obligation/Institutional Fund				150,093
		Total short-term investments (cost $176,264)			$	176,264
		Total investments (cost $1,574,869) (C)	108.9	%	$	1,843,201
		Other assets and liabilities	(8.9	)%		(150,167	)
		Total net assets	100.0	%	$	1,693,034

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 15.87% of total net assets at December 31, 2007.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $1,576,402 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	300,403
Unrealized Depreciation		(33,604	)
Net Unrealized Appreciation	$	266,799

(A)	The aggregate value of securities valued in good faith at fair value as determined in good faith under policies and procedures established by and under the supervision of the Funds’ Board of Directors at December 31, 2007, was $44,357, which represents 2.62% of total net assets.
(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.

Forward Foreign Currency Contracts Outstanding at December 31, 2007

							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Hong Kong Dollar (Buy)	$	408	$	408		01/02/08	$	—
Hong Kong Dollar (Buy)		398		398		01/03/08		—
							$	—

(W) See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  8  ­ ­

Hartford Money Market HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

Principal			Market
Amount			Value (W)
		Capital Goods — 1.9%
		Caterpillar, Inc.
$	52,000	4.20%, 01/10/2008	$	51,947
		Consumer Cyclical — 2.6%
		Eksportfinians
	27,500	4.31%, 01/14/2008 (I)		27,457
	42,700	4.71%, 04/03/2008 (I)		42,187
				69,644
		Consumer Staples — 4.7%
		KFW International Holdings
	26,250	4.28%, 01/15/2008 (I)		26,206
	27,700	4.31%, 01/17/2008 (I)		27,649
	31,600	4.41%, 02/05/2008 (I)		31,465
		Unilever Capital Corp.
	18,000	4.23%, 01/11/2008 (I)		17,979
	22,000	5.22%, 08/11/2008 (I)(L)		22,000
				125,299
		Energy — 3.0%
		ConocoPhillips Qatar Funding
	12,000	4.55%, 01/08/2008 (I)		11,989
	22,000	4.58%, 02/21/2008 (I)		21,858
	16,900	4.66%, 01/08/2008 (I)(L)		16,885
	7,500	4.82%, 01/23/2008 (I)		7,478
	20,600	4.98%, 01/23/2008 (I)		20,538
				78,748
		Finance — 83.3%
		American Express Credit Corp.
	9,102	3.50%, 01/02/2008		9,101
	34,050	4.33%, 01/16/2008		33,989
		American General Finance Corp.
	27,000	5.03%, 01/04/2008		26,989
	13,200	5.33%, 01/18/2008 (L)		13,201
		American Honda Finance Corp.
	13,500	4.26%, 01/15/2008		13,478
	26,300	4.85%, 05/12/2008 (I)(L)		26,300
	9,500	4.87%, 08/06/2008 (I)(L)		9,494
	21,300	5.17%, 09/18/2008 (I)(L)		21,300
		Australia & New Zealand Banking GR
	30,000	4.82%, 03/20/2008 (I)		29,689
	31,750	5.00%, 01/11/2008 (I)		31,706
	15,000	5.16%, 01/07/2008		14,987
		Bank of America Corp.
	57,200	4.65%, 02/28/2008 — 04/11/2008		56,632
	18,750	5.04%, 01/22/2008		18,695
		Bank of Scotland
	15,000	4.76%, 01/22/2008		14,958
	9,250	5.02%, 01/24/2008		9,220
	22,000	5.05%, 01/23/2008		21,933
		Bear Stearns & Co., Inc.
	19,000	5.02%, 01/28/2008		18,929
	22,000	5.09%, 08/14/2008 (L)		22,000
		Citibank NA
	12,750	5.11%, 03/07/2008		12,750
	27,350	5.14%, 03/04/2008		27,350
		Citigroup Funding, Inc.
	27,300	4.98%, 05/01/2008		26,850
		Danske Bank Corp.
	22,000	4.92%, 08/19/2008 (I)(L)		22,000
	21,500	4.94%, 03/10/2008		21,299
		Danske Bank Corp.
	31,000	5.37%, 02/11/2008		30,811
		Federal Home Loan Bank
	81,900	4.24%, 01/04/2008 — 01/11/2008		81,849
	54,000	4.27%, 01/11/2008		53,936
	28,250	4.31%, 01/30/2008		28,152
		Federal Home Loan Mortgage Corp.
	45,790	4.24%, 01/02/2008		45,785
	61,000	4.28%, 01/10/2008		60,940
		Federal National Mortgage Association
	34,000	4.20%, 01/09/2008		33,968
	25,800	4.26%, 01/22/2008		25,736
	25,014	4.27%, 02/01/2008		24,922
	20,289	4.30%, 02/22/2008		20,164
		General Electric Capital Corp.
	6,500	4.70%, 01/28/2008		6,477
	27,000	4.79%, 01/24/2008		26,918
	19,400	4.92%, 08/22/2008 (L)		19,400
	29,200	4.95%, 05/19/2008 (L)		29,204
		Goldman Sachs Group, Inc.
	26,250	4.83%, 01/14/2008		26,204
	39,500	4.84%, 01/18/2008		39,410
		HBOS Treasury Services plc
	26,440	5.23%, 09/08/2008 (I)(L)		26,438
		HSBC Finance Corp.
	18,000	4.72%, 02/04/2008		17,920
	22,500	5.26%, 09/06/2008 (L)		22,500
		JP Morgan Chase & Co.
	42,500	5.15%, 01/25/2008 (L)		42,501
	26,200	5.21%, 09/02/2008 (L)		26,200
		Lehman Brothers Holdings, Inc.
	45,250	4.25%, 01/02/2008		45,245
	22,000	5.00%, 10/27/2008 (L)		22,000
		Merrill Lynch & Co., Inc.
	29,000	4.61%, 06/26/2008 (L)		29,007
	22,000	5.04%, 08/22/2008 (L)		22,000
	15,500	5.11%, 01/31/2008		15,434
		Morgan Stanley Dean Witter, Inc.
	26,900	4.57%, 03/24/2008 (L)		26,900
	21,000	5.10%, 05/19/2008		20,595
	19,700	5.55%, 01/30/2008		19,612
		Nordea Bank Ab
	21,700	5.23%, 09/08/2008 (I)(L)		21,700
		Nordea North America
	18,000	4.76%, 02/14/2008		17,896
	28,600	5.05%, 02/04/2008		28,464
		Royal Bank of Scotland Group plc
	37,500	4.92%, 04/14/2008 (I)		36,979
	32,750	5.09%, 03/13/2008 (I)		32,420
		Skandinav Enskilda Bank
	36,650	5.00%, 01/23/2008 (I)		36,538
		Skandinaviska Enskilda Bank NY
	21,500	4.74%, 02/01/2008 (I)		21,414
	21,600	5.24%, 09/08/2008 (I)(L)		21,600
		State Street Corp.
	21,500	4.80%, 01/22/2008		21,500
	42,500	4.89%, 03/17/2008		42,500
		Svenska Handelsbanken Ab
	25,750	4.75%, 02/07/2008		25,750
	34,140	5.16%, 01/07/2008		34,112
	22,000	5.17%, 11/12/2008 (I)(L)		22,000

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

­ ­  9  ­ ­

Principal					Market
Amount					Value (W)
		Finance — (continued)
		Swedbank
$	32,500	4.75%, 04/08/2008			$	32,086
	33,500	4.78%, 02/28/2008				33,244
	10,500	5.24%, 01/10/2008				10,486
		Toyota Motor Credit Corp.
	53,000	4.05%, 07/17/2008 (L)				53,000
	31,000	4.55%, 02/08/2008				30,852
	21,000	4.69%, 01/25/2008				20,934
		UBS Finance LLC
	24,053	4.23%, 01/02/2008				24,050
	30,000	4.85%, 02/26/2008				29,775
	21,500	4.94%, 03/19/2008				21,272
	24,500	4.98%, 04/07/2008				24,176
		Wachovia Bank NA
	18,000	4.98%, 03/31/2008				18,000
	46,700	5.24%, 02/04/2008				46,700
		Wells Fargo & Co.
	22,000	4.91%, 08/15/2008 (L)				22,000
	29,525	5.29%, 03/10/2008 (L)				29,529
		Westpac Banking Corp.
	25,750	4.67%, 02/05/2008				25,634
	30,000	4.70%, 01/30/2008				29,888
	21,600	5.02%, 09/15/2008 (I)(L)				21,600
						2,229,177
		Services — 2.4%
		Walt Disney Co.
	18,000	4.54%, 02/01/2008				17,930
	12,750	4.73%, 01/07/2008				12,740
	34,250	4.86%, 01/23/2008				34,149
						64,819
		Technology — 2.4%
		John Deere Capital Corp.
	31,750	4.51%, 01/30/2008				31,635
	32,750	4.74%, 02/01/2008				32,617
						64,252
		Total investments (cost $2,683,886) (C)	100.3	%	$	2,683,886
		Other assets and liabilities	(0.3	)%		(6,786	)
		Total net assets	100.0	%	$	2,677,100

Note:  Percentage of investments as shown is the ratio of the total market value to total net assets. The rates presented in this Schedule of Investments are yields, unless otherwise noted. Market value of investments in foreign securities represents 25.71% of total net assets at December 31, 2007.

(C)	Also represents cost for tax purposes.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $654,869, which represents 24.46% of total net assets.
(L)	Variable rate securities; the yield reported is the rate in effect at December 31, 2007.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Australia		4.6	%
Denmark		4.0
Norway		2.6
Sweden		4.2
Switzerland		5.0
United Kingdom		5.3
United States		74.6
Other Assets and Liabilities		(0.3	)
Total		100.0	%

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

­ ­  10  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Assets and Liabilities
December 31, 2007
(000’s Omitted)

	Hartford		Hartford		Hartford
	Global Growth		Growth Opportunities		Money Market
	HLS Fund‡		HLS Fund		HLS Fund
Assets:
Investments in securities, at value; (amortized cost for Money Market) @	$	1,488,180	$	1,843,201	$	2,683,886
Cash		5		373		406
Foreign currency on deposit with custodian #		309		—		—
Receivables:
Investment securities sold		1,872		6,885		—
Fund shares sold		596		2,404		4,588
Dividends and interest		208		1,425		4,003
Other assets		2		3		26
Total assets		1,491,172		1,854,291		2,692,909
Liabilities:
Unrealized depreciation on forward foreign currency contracts		12		—		—
Payable upon return of securities loaned (Note 2d)		154,562		150,093		—
Payables:
Investment securities purchased		5,395		7,488		—
Fund shares redeemed		2,300		3,373		15,463
Investment management and advisory fees (Note 3)		107		170		104
Administrative fee		44		—		88
Distribution fees (Note 3)		12		12		18
Accrued expenses		109		121		136
Total liabilities		162,541		161,257		15,809
Net assets	$	1,328,631	$	1,693,034	$	2,677,100
Summary of Net Assets:
Capital stock and paid-in-capital	$	966,417	$	1,371,883	$	2,677,100
Accumulated undistributed net investment income		12		94		—
Accumulated net realized gain on investments and foreign currency transactions		37,204		52,725		—
Unrealized appreciation of investments and the translations of assets and liabilities denominated in foreign currency		324,998		268,332		—
Net assets	$	1,328,631	$	1,693,034	$	2,677,100
Shares authorized		3,400,000		700,000		7,000,000
Par value	$	0.001	$	0.001	$	0.001
Class IA: Net asset value per share	$	22.42	$	32.75	$	1.00
Shares outstanding		45,891		43,220		2,224,124
Net assets	$	1,028,843	$	1,415,613	$	2,224,124
Class IB: Net asset value per share	$	22.27	$	32.40	$	1.00
Shares outstanding		13,464		8,562		452,976
Net assets	$	299,788	$	277,421	$	452,976
@ Cost of securities	$	1,163,185	$	1,574,869	$	2,683,886
@ Market value of securities on loan	$	149,688	$	145,854	$	—
# Cost of foreign currency on deposit with custodian	$	310	$	—	$	—

‡ Formerly known as Hartford Global Leaders HLS Fund.

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

­ ­  11  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Operations
For the Year Ended December 31, 2007
(000’s Omitted)

	Hartford			Hartford			Hartford
	Global Growth			Growth Opportunities			Money Market
	HLS Fund‡			HLS Fund			HLS Fund
Investment Income:
Dividends	$	10,449		$	9,472		$	—
Interest		519			1,523			119,143
Securities lending		740			981			—
Less: Foreign tax withheld		(881	)		(371	)		—
Total investment income, net		10,827			11,605			119,143
Expenses:
Investment management and advisory fees		6,212			8,937			5,525
Administrative services fees		2,512			—			4,538
Distribution fees — Class IB		718			583			970
Custodian fees		38			226			3
Accounting services		188			—			340
Board of Directors’ fees		24			26			38
Other expenses		250			214			324
Total expenses (before waivers and fees paid indirectly)		9,942			9,986			11,738
Expense waivers		—			—			(1,134	)
Commission recapture		(80	)		(135	)		—
Custodian fee offset		(2	)		(18	)		(2	)
Total waivers and fees paid indirectly		(82	)		(153	)		(1,136	)
Total expenses, net		9,860			9,833			10,602
Net investment income (loss)		967			1,772			108,541
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions:
Net realized gain on investments		155,800			291,568			52
Net realized loss on foreign currency transactions		(159	)		(22	)		—
Net Realized Gain (Loss) on Investments and Foreign Currency Transactions		155,641			291,546			52
Net Changes in Unrealized Appreciation (Depreciation) of Investments, and Foreign Currency Transactions:
Net unrealized appreciation of investments		123,106			81,169			—
Net unrealized depreciation on translation of other assets and liabilities in foreign currencies		(7	)		—			—
Net Changes in Unrealized Appreciation (Depreciation) of Investments, and Foreign Currency Transactions		123,099			81,169			—
Net Gain on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:		278,740			372,715			52
Payment from Affiliate (See Note 3h in accompanying Notes to Financial Statements)		—			—			—
Net Increase in Net Assets Resulting from Operations	$	279,707		$	374,487		$	108,593

‡ Formerly known as Hartford Global Leaders HLS Fund.

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

­ ­  12  ­ ­

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­ ­  13  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statement of Changes in Net Assets

(000’s Omitted)

	Hartford
	Global Growth HLS Fund‡
	For the			For the
	Year Ended			Year Ended
	December 31, 2007			December 31, 2006
Operations:
Net investment income (loss)	$	967		$	5,144
Net realized gain (loss) on investments and foreign currency transactions		155,641			80,164
Net unrealized appreciation (depreciation) of investments and foreign currency transactions		123,099			70,989
Payment from affiliate		—			3,344
Net increase in net assets resulting from operations		279,707			159,641
Distributions to Shareholders:
From net investment income
Class IA		(509	)		(7,210	)
Class IB		(153	)		(1,211	)
From net realized gain on investments
Class IA		(107,687	)		(50,448	)
Class IB		(31,874	)		(15,059	)
Total distributions		(140,223	)		(73,928	)
Capital Share Transactions:
Class IA
Sold		73,376			75,692
Issued on reinvestment of distributions		108,196			57,658
Redeemed		(203,272	)		(192,502	)
Total capital share transactions		(21,700	)		(59,152	)
Class IB
Sold		33,680			21,219
Issued on reinvestment of distributions		32,027			16,270
Redeemed		(77,401	)		(57,098	)
Total capital share transactions		(11,694	)		(19,609	)
Net increase (decrease) from capital share transactions		(33,394	)		(78,761	)
Net increase (decrease) in net assets		106,090			6,952
Net Assets:
Beginning of period		1,222,541			1,215,589
End of period	$	1,328,631		$	1,222,541
Accumulated undistributed (distribution in excess of) net investment income	$	12		$	(2,425	)
Shares:
Class IA
Sold		3,252			3,866
Issued on reinvestment of distributions		5,023			2,895
Redeemed		(9,286	)		(9,779	)
Total share activity		(1,011	)		(3,018	)
Class IB
Sold		1,493			1,077
Issued on reinvestment of distributions		1,496			819
Redeemed		(3,528	)		(2,902	)
Total share activity		(539	)		(1,006	)

‡ Formerly known as Hartford Global Leaders HLS Fund.

­ ­  14  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statement of Changes in Net Assets — (continued)

(000’s Omitted)

Hartford						Hartford
Growth Opportunities HLS Fund						Money Market HLS Fund
For the			For the			For the			For the
Year Ended			Year Ended			Year Ended			Year Ended
December 31, 2007			December 31, 2006			December 31, 2007			December 31, 2006
$	1,772		$	8,419		$	108,541		$	81,038
	291,546			124,794			52			1
	81,169			3,805			—			—
	—			1,098			—			—
	374,487			138,116			108,593			81,039
	(1,850	)		(8,100	)		(90,770	)		(67,958	)
	(60	)		(884	)		(17,771	)		(13,080	)
	(220,443	)		(108,948	)		(43	)		(1	)
	(43,763	)		(19,575	)		(9	)		—
	(266,116	)		(137,507	)		(108,593	)		(81,039	)
	217,719			188,777			2,394,176			1,780,507
	222,293			117,049			90,667			68,099
	(222,459	)		(216,061	)		(1,819,153	)		(1,644,009	)
	217,553			89,765			665,690			204,597
	83,662			49,911			503,545			300,900
	43,823			20,458			17,750			13,111
	(61,762	)		(51,438	)		(388,244	)		(258,125	)
	65,723			18,931			133,051			55,886
	283,276			108,696			798,741			260,483
	391,647			109,305			798,741			260,483
	1,301,387			1,192,082			1,878,359			1,617,876
$	1,693,034		$	1,301,387		$	2,677,100		$	1,878,359
$	94		$	389		$	—		$	—
	6,208			6,073			2,394,177			1,780,507
	6,954			3,934			90,667			68,099
	(6,570	)		(7,054	)		(1,819,153	)		(1,644,009	)
	6,592			2,953			665,691			204,597
	2,405			1,621			503,545			300,900
	1,386			693			17,750			13,111
	(1,845	)		(1,706	)		(388,245	)		(258,125	)
	1,946			608			133,050			55,886

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

­ ­  15  ­ ­

Hartford Series Fund Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements

December 31, 2007

(000’s Omitted)

1.  Organization:

The Hartford HLS Funds serve as underlying investment options for certain variable annuity and variable life insurance separate accounts of Hartford Life Insurance Company and its affiliates (“HLIC”) and certain qualified retirement plans. Certain Hartford HLS Funds may also serve as underlying investment options for certain variable annuity and variable life separate accounts of other insurance companies. Owners of variable annuity contracts and policyholders of variable life insurance contracts may choose the funds permitted in the accompanying variable insurance contract prospectus. In addition, participants in certain qualified retirement plans may choose the funds permitted by their plans.

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc. (the “Companies”) are open-end management investment companies comprised of thirty-three portfolios (each a “Fund” or together the “Funds”) (three Fund’s are included in these financial statements; they are Hartford Global Growth HLS Fund, Hartford Growth Opportunities HLS Fund and Hartford Money Market HLS Fund). The Companies are organized under the laws of the State of Maryland and are registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”), as diversified open-end management investment companies.

Each Fund is divided into Class IA and Class IB shares. Each class is offered at Net Asset Value (“NAV”) without a sales charge and is subject to the same expenses, except that the Class IB shares are subject to distribution fees charged pursuant to Distributions and Service Plans. These Distribution and Service Plans have been adopted in accordance with Rule 12b-1 of the 1940 Act.

Effective July 27, 2007, Hartford Global Leaders HLS Fund was renamed Hartford Global Growth HLS Fund.

Indemnifications:  Under the Companies’ organizational documents, each Company shall indemnify its officers and directors to the full extent required or permitted under Maryland Corporate Law and the federal securities law. In addition, the Companies on behalf of the Funds, may enter into contracts that contain a variety of indemnifications. The Companies’ maximum exposure under these arrangements is unknown. However, the Companies have not had prior claims or losses pursuant to these contracts and expect the risk of loss to be remote.

2.  Significant Accounting Policies:

The following is a summary of significant accounting policies of the Funds, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) in the investment company industry:

a)  Security Transactions — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.

Trade date for senior floating rate interests purchased in the primary market is considered the date on which the loan allocations are determined. Trade date for senior floating rate interests purchased in the secondary market is the date on which the transaction is entered into.

b)  Security Valuation and Investment Income — Except for Hartford Money Market HLS Fund, the Funds generally use market prices in valuing portfolio securities. If market quotations are not readily available or are deemed unreliable, a Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of that Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the exchange on which a portfolio security is principally traded but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which a Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of securities principally traded on foreign markets, each Fund uses a fair value pricing service approved by that Fund’s Board of Directors which employs quantitative models to adjust for “stale” prices caused by the movement of other markets and other factors occurring after the close of the foreign markets but before the close of the Exchange. Securities that are principally traded on foreign markets may trade on days that are not business days of the Funds. Because the NAV of each Fund’s shares is determined only on business days of the Funds, the value of the portfolio securities of a Fund that invests in foreign securities may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Funds may cause the NAV of their respective shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is principally traded but before the close of the Exchange. There can be no assurance that any Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which that Fund determines its NAV per share.

Debt securities (other than short-term obligations and senior floating rate interests), held by the Fund are valued on the basis of valuations furnished by an unaffiliated pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter markets and are priced through an unaffiliated pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in the securities or from a widely-used quotation system in accordance with procedures established by that Fund’s Board of Directors. Generally, each Fund may use fair valuation in regards to debt securities when a Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Hartford Money Market HLS Fund’s investments and investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported

­ ­  16  ­ ­

Hartford Series Fund Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter (“OTC”) market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent bid quotation on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts shall be valued at the final settlement price reported by an exchange on which they are principally traded. If there were no trades as of the valuation day, then the contract shall be valued at the closing bid price as of the Valuation Time.

Financial instruments for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in securities or from a widely-used quotation system in accordance with procedures established by the Fund’s Board of Directors.

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time. In the event that the applicable pricing service cannot provide the spot currency rates and forward currency rates in a timely fashion, such rates may be obtained from a widely-used quotation system in accordance with procedures established by the Fund’s Board of Directors.

Swaps and other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Fund’s Board of Directors.

Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.

Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.

c)  Foreign Currency Transactions — The accounting records of the Funds are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.

The Funds do not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.

Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.

d)  Securities Lending — The Funds, except for Hartford Money Market HLS Fund, may lend their securities to certain qualified brokers who pay these Funds negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following day.

While securities are on loan, each Fund is subject to: the risk that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, the risk that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, the risk that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, the risk that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, the risk that return of loaned securities could be delayed and could interfere with portfolio management decisions and the risk that any efforts to recall the securities for purposes of voting may not be effective.

e)

Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Funds may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”), or Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.

f)

Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Funds enter into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase

­ ­  17  ­ ­

agreement are held by each Fund’s custodian in book entry or physical form in the custodial account of the Funds or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. Certain Funds, as shown on the Schedule of Investments, had outstanding repurchase agreements as of December 31, 2007.

g)

Reverse Repurchase Agreements — Each Fund, except Hartford Index HLS Fund, may also enter into reverse repurchase agreements. Reverse repurchase agreements involve sales by a Fund of portfolio assets concurrently with an agreement by a Fund to repurchase the same assets at a later date at a fixed price. Reverse repurchase agreements carry the risk that the market value of the securities which a Fund is obligated to repurchase may decline below the repurchase price. A reverse repurchase agreement is viewed as a collateralized borrowing by a Fund. Borrowing magnifies the potential for gain or loss on the portfolio securities of a Fund and, therefore, increases the possibility of fluctuation in a Fund’s NAV. As of December 31, 2007, there were no outstanding reverse repurchase agreements.

h)

Futures and Options Transactions — Certain Funds may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Funds enter into such futures contracts, they are required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called maintenance margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Funds.

At any time prior to the expiration of the futures contract, a Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of maintenance margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involve elements of market risk, which may exceed the amounts recognized in the Statements of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Funds’ strategies and potentially result in loss. Certain Funds, as shown on the Schedule of Investments, had outstanding futures contracts as of December 31, 2007.

The premium paid by a Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

The Funds may write covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will establish or maintain with its custodian for the term of the option a “segregated account” consisting of cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. A Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. The Funds had no transactions involving written option contracts for the Funds during the year ended December 31, 2007.

i)  Forward Foreign Currency Contracts — For the year ended December 31, 2007, certain Funds, as shown on the Schedule of Investments entered into forward foreign currency contracts that obligate the Funds to repurchase/replace or sell currencies at specified future dates. The Funds enter into forward foreign currency contracts to hedge against adverse fluctuations in exchange rates between currencies.

Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statements of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar.

j)

Indexed Securities — The Funds may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Funds use these securities to increase or decrease their exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. Certain Funds had investments in indexed securities, as of December 31, 2007, as shown on the Schedule of Investments under Exchange Traded Funds.

k)

Federal Income Taxes — For federal income tax purposes, the Funds intend to continue to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of their taxable net investment income and net realized capital gains to their shareholders and otherwise complying with the requirements of regulated investment companies. The Funds have distributed substantially all of their income and capital gains in prior years and each Fund intends to distribute substantially all of its income and gains prior to the next fiscal year end. Accordingly, no provision for federal income taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distribution for federal income tax purposes.

­ ­  18  ­ ­

Hartford Series Fund Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

l)  The tax character of distributions paid for the periods indicated is as follows (as adjusted for dividends payable):

	For the Year Ended				For the Year Ended
	December 31, 2007				December 31, 2006
			Long-Term				Long-Term
	Ordinary Income		Capital Gains(a)		Ordinary Income		Capital Gains(a)
Hartford Global Growth HLS Fund	$	32,462	$	107,761	$	29,720	$	44,208
Hartford Growth Opportunities HLS Fund		163,824		102,292		48,149		89,358
Hartford Money Market HLS Fund		108,593		—		81,039		—

(a) The Funds designate these distributions as long-term gain capital dividends per IRC code Sec. 852(b) (3) (C).

As of December 31, 2007, the components of distributable earnings (deficit) on tax basis were as follows:

									Total
	Undistributed		Undistributed		Accumulated		Unrealized		Accumulated
	Ordinary		Long-Term		Capital Gains		Appreciation		Earnings
	Income		Capital Gain		(Losses)*		(Depreciation)@		(Deficit)
Hartford Global Growth HLS Fund	$	3,881	$	34,060	$	—	$	324,273	$	362,214
Hartford Growth Opportunities HLS Fund		20,360		33,993		—		266,798		321,151

*	Certain Funds had capital loss carryforwards that are identified in Note 2(n).
@	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable primarily to the tax deferral of wash sale losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark to market for Passive Foreign Investment Companies and basis differences in real estate investment trusts.

m)  Reclassification of Capital Accounts:

In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Funds have recorded reclassifications in their capital accounts. These reclassifications had no impact on the NAV per share of the Funds and are designed generally to present accumulated undistributed (distribution in excess of) net investment income and accumulated net realized gains (losses) on investments on a tax basis which is considered to be more informative to a shareholder. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as foreign currency, net operating losses and capital loss carryforward expiration that reduce capital gain distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of a Fund’s distributions may be shown in the accompanying Statements of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. For the year ended December 31, 2007, the Funds recorded the following reclassifications to increase (decrease) the accounts listed below.

	Undistributed			Accumulated Net
	Net Investment			Realized Gain
	Income			(Loss)			Paid-in-Capital
Hartford Global Growth HLS Fund	$	2,132		$	(2,132	)	$	—
Hartford Growth Opportunities HLS Fund		(157	)		157			—

n)  Capital Loss Carryforwards:

As of December 31, 2007 (tax-year-end), no Funds had capital loss carryforwards for U.S. Federal income tax purposes.

Based on certain provisions in the IRC, various limitations regarding the future utilization of Hartford Global Growth HLS Fund, carryforwards may apply.

o)

Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the Financial Accounting Standards Board (FASB) released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended December 31, 2005-2007) and has determined there is no impact to the Funds’ financial statements.

p)

Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Funds’ shares are executed in accordance with the investment instructions of the contract holders or plan participants. The NAV of each Fund’s shares is determined as of the close of each business day of the Exchange. The NAV per share is determined separately for each class of each Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of a Fund’s shares received by an insurance company or plan prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the per-share NAV determined as of the close of the Exchange. Orders received by an insurance company or plan after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined per-share NAV.

Dividends are declared pursuant to a policy adopted by the Funds’ Board of Directors based upon the investment performance of the Funds. The policy of all Funds, except Hartford Money Market HLS Fund, is to pay dividends from net investment income and distribute realized capital gains, if any, at least once a year.

­ ­  19  ­ ­

Hartford Money Market HLS Fund seeks to maintain a stable NAV per share of $1.00 by declaring a daily dividend from net investment income, including net short-term capital gains and losses, and by valuing its investments using the amortized cost method. Dividends are declared daily and distributed monthly.

Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include foreign currency gains and losses, losses deferred due to wash sale, adjustments related to Passive Foreign Investment Companies, certain derivatives and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Funds’ capital accounts (see Note 2 (m)).

q)	Illiquid and Restricted Securities — Each Fund is permitted to invest up to 15% of its net assets in illiquid securities, except for Hartford Money Market HLS Fund which may invest up to 10% in such securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine a Fund’s NAV per share. A Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on NAV. Each Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Funds’ Board of Directors.
r)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Funds on a forward commitment or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Funds identify securities segregated in their records with value at least equal to the amount of the commitment. As of December 31, 2007, Funds had no outstanding when-issued or forward commitments.
s)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, lower rated bonds have higher credit risk. High yield bond prices can fall on bad news about the economy, an industry or a company. The share price, yield and total return of a Fund which holds securities with high yield bonds may fluctuate more than with less aggressive bond funds.

t)

Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.

u)

Swaps — Certain Funds may enter into event linked swaps, including credit default swaps. The credit default swap market allows a Fund to manage credit risk through buying and selling credit protection on a specific issuer, an index, or a basket of issuers. A “buyer” of credit protection agrees to pay a counterparty to assume the credit risk of an issuer upon the occurrence of certain events. The “seller” of the protection receives periodic payments and agrees to assume the credit risk of an issuer upon the occurrence of certain events. A “seller’s” exposure is limited to the total notional amount of the credit default swap contract. A Fund will generally not buy protection on issuers that are not currently held by such Fund.

Certain Funds may enter into interest rate swaps. In a typical interest rate swap, one party agrees to make regular payments equal to a floating interest rate multiplied by a “notional principal amount,” in return for payments equal to a fixed rate multiplied by the same amount, for a specific period of time. If a swap agreement provides for payments in different currencies, the parties might agree to exchange the notional principal amount as well. Swaps may also depend on other prices or rates, such as the value of an index or mortgage prepayment rates. No Funds had outstanding swaps as of December 31, 2007.

v)  Financial Accounting Standards Board Financial Accounting Standards No. 157 — In September 2006, FASB issued Statement on Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. FAS 157 is effective for the Funds’ financial statements with fiscal years beginning after November 15, 2007, and interim periods within those fiscal years. Management has evaluated the impact of the standard and does not believe the adoption of FAS 157 will impact the amounts reported in the financial statements; however, additional disclosures will be required about the inputs used to develop the measurements of fair value and the effect of certain measurements reported in the Statements of Operations for a fiscal period.

3.  Expenses:

a)  Investment Management and Advisory Agreements — HL Investment Advisors, LLC (“HL Advisors”), an indirect wholly-owned subsidiary of The Hartford, serves as investment manager to the Funds pursuant to separate Investment Management Agreements with Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc. As investment manager, HL Advisors has overall investment supervisory responsibility for each Fund. In addition, HL Advisors provides administrative personnel, services, equipment and facilities and office space for proper operation of the Funds.

HL Advisors has contracted with Wellington for the provision of day-to-day investment management services for Hartford Global Growth HLS Fund and Hartford Growth Opportunities HLS Fund in accordance with each Fund’s investment objective and policies.

In addition, HL Advisors has contracted with Hartford Investment Management for the provision of day-to-day investment management services for Hartford Money Market HLS Fund.

Each Fund pays a fee to HL Advisors, a portion of which is used to compensate Hartford Investment Management and Wellington, as applicable.

­ ­  20  ­ ­

Hartford Series Fund Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

b)  Administrative Services Agreement — Under the Administrative Services Agreement between HLIC and the following Funds, Hartford Global Growth HLS Fund and Hartford Money Market HLS Fund, HLIC provides administrative services to the Funds and receives monthly compensation at the annual rate of 0.20% of each Fund’s average daily net assets. The Funds assume and pay certain other expenses (including, but not limited to, accounting, custodian, state taxes and directors’ fees). Directors’ fees represent remuneration paid or accrued to directors not affiliated with HLIC or any other related company.

The schedules below reflect the rates of compensation paid to HL Advisors for investment advisory services and to HLIC for administrative services rendered during the year ended December 31, 2007; the rates are accrued daily and paid monthly.

Hartford Money Market HLS Fund(1)

Average Daily Net Assets	Annual Rate
On first $2 billion		0.450%
On next $3 billion		0.400%
On next $5 billion		0.380%
Over $10 billion		0.370%

(1) Effective January 1, 2007, HL Advisors voluntarily agreed to waive management fees of 0.05% of average daily net assets until December 31, 2007. This waiver will be continued until December 31, 2008.

Hartford Global Growth HLS Fund

Average Daily Net Assets	Annual Rate
On first $250 million		0.775%
On next $250 million		0.725%
On next $500 million		0.675%
Over $1 billion		0.625%

Hartford Growth Opportunities HLS Fund

Average Daily Net Assets	Annual Rate
On first $100 million		0.700%
Over $100 million		0.600%

c)  Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between HLIC and Hartford Global Growth HLS Fund and Hartford Money Market HLS Fund, HLIC provides accounting services to the Funds and receives monthly compensation at the annual rate of 0.015% of each Fund’s average daily net assets. The Funds’ accounting services fees are accrued daily and paid monthly.

Effective January 1, 2008, the rates of compensation paid to HLIC is as follows:

Hartford Global Growth HLS Fund

Average Daily Net Assets	Annual Rate
On first $5 billion		0.014%
On next $5 billion		0.012%
Over $10 billion		0.010%

Hartford Money Market HLS Fund

Average Daily Net Assets	Annual Rate
All assets		0.010%

d)	Other Related Party Transactions — The Hartford provided certain legal services to the Funds, for which the Funds were charged $4 for the year ended December 31, 2007. Certain officers of the Funds are directors and/or officers of HLIA, Hartford Investment Management and/or The Hartford or its subsidiaries. For the year ended December 31, 2007, a portion of the Funds’ chief compliance officer’s salary was paid by the Funds in the amount of $10. Hartford Investor Services Company LLC (“HISC”), a wholly-owned subsidiary of The Hartford, provides transfer agent services to the Funds. HISC was compensated $14 for providing such services. The Funds accrue these fees daily and pay monthly.
e)	Operating Expenses — Allocable expenses incurred by the Funds are allocated to each Fund in proportion to the average daily net assets of each Fund, except where allocation of certain expenses is more fairly made directly to the Fund or to a specific class within a Fund. Non-allocable expenses are charged to each Fund based on specific identification.
f)	Fees Paid Indirectly — The Funds have entered into agreements with State Street Global Advisers, LLC and Frank Russell Securities, Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Funds’ expenses. In addition, the Funds’ custodian bank, State Street Bank & Trust, has also agreed to reduce its fees when the Funds maintain cash on deposit in the non-interest bearing custody account. For the year ended December 31, 2007, these amounts are included in the Statements of Operations.

­ ­  21  ­ ­

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:

	For the						For the						For the						For the
	Year Ended						Year Ended						Year Ended						Year Ended
	December 31, 2007						December 31, 2006						December 31, 2005						December 31, 2004
	Ratio of Expenses						Ratio of Expenses						Ratio of Expenses						Ratio of Expenses
	to Average Net Assets After						to Average Net Assets After						to Average Net Assets After						to Average Net Assets After
	Waivers and Offsets						Waivers and Offsets						Waivers and Offsets						Waivers and Offsets
Fund	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB			Class IA			Class IB
Hartford Global Growth HLS Fund		0.73	%		0.98	%		0.74	%		0.99	%		0.68	%		0.93	%		0.68	%		0.93	%
Hartford Growth Opportunities HLS Fund		0.63			0.88			0.63			0.88			0.58			0.84			0.57			0.82
Hartford Money Market HLS Fund		0.42			0.67			0.48			0.73			0.49			0.74			0.48			0.73

g)  Distribution Plan for Class IB Shares — All Funds with Class IB shares have adopted a Distribution Plan pursuant to Rule 12b-1 under the 1940 Act for the Class IB shares. Pursuant to the Distribution Plan, each Fund compensates the Distributor, Hartford Securities Distribution Company, Inc. (a wholly owned, ultimate subsidiary of Hartford Life, Inc. (“Hartford Life”)) from assets attributable to the Class IB shares for services rendered and expenses borne in connection with activities primarily intended to result in the sale of Class IB shares.

The Distribution Plan provides that each Fund may pay annually up to 0.25% of the average daily net assets of a Fund attributable to its Class IB shares for activities primarily intended to result in the sale of Class IB shares. Under the terms of the Distribution Plan and the principal underwriting agreement, each Fund is authorized to make payments monthly to the Distributor which may be used to pay or reimburse entities providing distribution and shareholder servicing with respect to the Class IB shares for such entities’ fees or expenses incurred or paid in that regard. The Funds’ distribution fees are accrued daily and paid monthly.

h)  Payment from (to) Affiliate — The Funds are available for purchase by the separate accounts of different variable universal life policies, variable annuity products, and funding agreements and they are offered directly to certain qualified retirement plans (collectively, “Products”). Although existing Products contain transfer restrictions, some Products, particularly older variable annuity products, do not contain restrictions on the frequency of transfers. In addition, as the result of the settlement of litigation against Hartford Life (the issuers of such variable annuity products), the Funds’ ability to restrict transfers by certain owners of older variable annuity products was limited. During 2006, these annuity owners surrendered the older variable annuity contracts that were the subject of prior litigation. In February 2005, Hartford Life agreed with the Boards of Directors of the Funds to indemnify the Funds for any material harm caused to the Funds from frequent trading by these contract owners. Pursuant to the agreement, the following amounts have been paid (received) to (from) the Funds indicated in 2006 and 2005.

Fund	2006		2005
Hartford Growth Opportunities HLS Fund	$	257	$	1,140

On November 8, 2006, the SEC issued an order setting forth the terms of a settlement reached with three subsidiaries of The Hartford that resolves the SEC’s Division of Enforcement’s investigation of aspects of The Hartford’s variable annuity and mutual fund operations related to directed brokerage and revenue sharing. Under the terms of the settlement, The Hartford paid a total of $39.6 million to the Funds in the amounts indicated below. These amounts were recorded on November 8, 2006 and paid on November 22, 2006. The Hartford settled this matter without admitting or denying the findings of the SEC.

Fund	Reimbursement Amount
Hartford Global Growth HLS Fund	$	3,344
Hartford Growth Opportunities HLS Fund		841

The total return in the financial highlights includes the impact of the payment from (to) affiliates. The tables below show the impact of each of the payments from (to) affiliates and what the total return for the years ended December 31, 2006 and 2005 would have been excluding the payments from (to) affiliates:

	Impact from Payment						Impact from Payment						Total Return Excluding
	from Affiliate for						from (to) Affiliate for						Payments from (to)
	SEC Settlement						Unrestricted Transfers						Affiliate
	for the Year Ended						for the Year Ended						for the Year Ended
	December 31, 2006						December 31, 2006						December 31, 2006
Fund	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB
Hartford Global Growth HLS Fund		0.31	%		0.32	%		—	%		—	%		13.83	%		13.54	%
Hartford Growth Opportunities HLS Fund		0.07			0.07			0.02			0.02			11.96			11.70

­ ­  22  ­ ­

Hartford Series Fund Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)

December 31, 2007

(000’s Omitted)

Impact from Payment

from Affiliate for

Total Return Excluding

Unrestricted Transfers

Payments from Affiliate

for the Year Ended

for the Year Ended

December 31, 2005

December 31, 2005

Fund

Class IA

Class IB

Class IA

Class IB

Hartford Growth Opportunities HLS Fund

0.11

%

0.11

%

16.20

%

15.91

%

4.  Investment Transactions:

For the year ended December 31, 2007, the cost of purchases and proceeds from sales of securities for Hartford Money Market HLS Fund were $36,997,029 and $36,190,030, respectively. The cost of purchases and proceeds from sales of securities (excluding short-term investments) for the other portfolios were as follows:

	Cost of Purchases		Sales Proceeds		Cost of
	Excluding		Excluding		Purchases for		Sales Proceeds for
	U.S. Government		U.S. Government		U.S. Government		U.S. Government
Fund	Obligations		Obligations		Obligations		Obligations
Hartford Global Growth HLS Fund	$	933,370	$	1,108,732	$	—	$	—
Hartford Growth Opportunities HLS Fund		2,005,785		1,964,268		—		—

5.  Line of Credit:

The Funds, except for Hartford Money Market HLS Fund, participate in a $1 billion committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Funds are required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the year ended December 31, 2007, the Funds did not have any borrowings under this facility.

­ ­  23  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Financial Highlights

	— Selected Per-Share Data(3) —
								Net												— Ratios and Supplemental Data —
								Realized															Net									Ratio of			Ratio of			Ratio of
								and							Distributions								Increase									Expenses			Expenses			Net
	Net Asset		Net					Unrealized		Total		Dividends			from								(Decrease)		Net Asset					Net Assets		to Average			to Average			Investment
	Value at		Investment			Payment		Gain		from		from Net			Realized			Distributions					in Net		Value at					at End of		Net Assets			Net Assets			Income			Portfolio
	Beginning		Income			from (to)		(Loss) on		Investment		Investment			Capital			from		Total			Asset		End		Total			Period		Before			After			to Average			Turnover
	of Period		(Loss)			Affiliate		Investments		Operations		Income			Gains			Capital		Distributions			Value		of Period		Return(1)			(000’s)		Waivers(2)			Waivers(2)			Net Assets			Rate(4)
Hartford Global Growth HLS Fund (formerly known as Hartford Global Leaders HLS Fund)
For the Year Ended December 31, 2007
Class IA	$	20.09	$	0.03		$	—	$	4.84	$	4.87	$	(0.01	)	$	(2.53	)	$	—	$	(2.54	)	$	2.33	$	22.42		25.05	%	$	1,028,843		0.73	%		0.73	%		0.13	%		75	%
Class IB		20.02		(0.02	)		—		4.81		4.79		(0.01	)		(2.53	)		—		(2.54	)		2.25		22.27		24.74			299,788		0.98			0.98			(0.11	)		—
For the Year Ended December 31, 2006
Class IA		18.74		0.10			0.05		2.48		2.63		(0.16	)		(1.12	)		—		(1.28	)		1.35		20.09		14.14	(5)		942,258		0.76			0.76			0.48			116
Class IB		18.66		0.05			0.05		2.47		2.57		(0.09	)		(1.12	)		—		(1.21	)		1.36		20.02		13.86	(5)		280,283		1.01			1.01			0.23			—
For the Year Ended December 31, 2005
Class IA		18.41		0.14			—		0.33		0.47		(0.14	)		—			—		(0.14	)		0.33		18.74		2.59			935,539		0.77			0.77			0.74			262
Class IB		18.32		0.07			—		0.35		0.42		(0.08	)		—			—		(0.08	)		0.34		18.66		2.33			280,050		1.02			1.02			0.48			—
For the Year Ended December 31, 2004
Class IA		15.53		0.12			—		2.85		2.97		(0.09	)		—			—		(0.09	)		2.88		18.41		19.19			1,004,850		0.78			0.78			0.83			255
Class IB		15.47		0.10			—		2.82		2.92		(0.07	)		—			—		(0.07	)		2.85		18.32		18.89			273,202		1.03			1.03			0.58			—
For the Year Ended December 31, 2003
Class IA		11.50		0.07			—		4.02		4.09		(0.06	)		—			—		(0.06	)		4.03		15.53		35.57			728,049		0.80			0.80			0.54			292
Class IB		11.47		0.04			—		4.00		4.04		(0.04	)		—			—		(0.04	)		4.00		15.47		35.24			129,315		1.05			1.05			0.29			—
Hartford Growth Opportunities HLS Fund
For the Year Ended December 31, 2007
Class IA		30.13		0.05			—		8.62		8.67		(0.05	)		(6.00	)		—		(6.05	)		2.62		32.75		29.65			1,415,613		0.64			0.64			0.16			135
Class IB		29.90		(0.02	)		—		8.53		8.51		(0.01	)		(6.00	)		—		(6.01	)		2.50		32.40		29.33			277,421		0.89			0.89			(0.09	)		—
For the Year Ended December 31, 2006
Class IA		30.07		0.22			0.03		3.27		3.52		(0.24	)		(3.22	)		—		(3.46	)		0.06		30.13		12.05	(5)		1,103,590		0.65			0.65			0.71			139
Class IB		29.85		0.14			0.03		3.25		3.42		(0.15	)		(3.22	)		—		(3.37	)		0.05		29.90		11.79	(5)		197,797		0.90			0.90			0.46			—
For the Year Ended December 31, 2005
Class IA		27.63		0.09			0.03		4.36		4.48		(0.06	)		(1.98	)		—		(2.04	)		2.44		30.07		16.31	(5)		1,012,774		0.64			0.64			0.33			140
Class IB		27.44		0.01			0.03		4.35		4.39		—			(1.98	)		—		(1.98	)		2.41		29.85		16.02	(5)		179,308		0.89			0.89			0.06			—
For the Year Ended December 31, 2004
Class IA		23.57		0.05			—		4.01		4.06		—			—			—		—			4.06		27.63		17.18			848,674		0.63			0.63			0.23			137
Class IB		23.48		0.03			—		3.93		3.96		—			—			—		—			3.96		27.44		16.89			112,896		0.88			0.88			(0.03	)		—
For the Year Ended December 31, 2003
Class IA		16.40		(0.01	)		—		7.18		7.17		—			—			—		—			7.17		23.57		43.79			696,900		0.64			0.64			(0.05	)		145
Class IB		16.37		(0.01	)		—		7.12		7.11		—			—			—		—			7.11		23.48		43.43			59,686		0.89			0.89			(0.30	)		—
Hartford Money Market HLS Fund
For the Year Ended December 31, 2007
Class IA		1.00		0.05			—		—		0.05		(0.05	)		—			—		(0.05	)		—		1.00		4.95			2,224,124		0.47			0.42			4.83			—
Class IB		1.00		0.05			—		—		0.05		(0.05	)		—			—		(0.05	)		—		1.00		4.69			452,976		0.72			0.67			4.58			—
For the Year Ended December 31, 2006
Class IA		1.00		0.05			—		—		0.05		(0.05	)		—			—		(0.05	)		—		1.00		4.69			1,558,433		0.48			0.48			4.63			—
Class IB		1.00		0.04			—		—		0.04		(0.04	)		—			—		(0.04	)		—		1.00		4.43			319,926		0.73			0.73			4.38			—
For the Year Ended December 31, 2005
Class IA		1.00		0.03			—		—		0.03		(0.03	)		—			—		(0.03	)		—		1.00		2.84			1,353,836		0.49			0.49			2.79			—
Class IB		1.00		0.03			—		—		0.03		(0.03	)		—			—		(0.03	)		—		1.00		2.58			264,040		0.75			0.75			2.54			—
For the Year Ended December 31, 2004
Class IA		1.00		—			—		—		—		—			—			—		—			—		1.00		0.94			1,294,525		0.48			0.48			0.93			—
Class IB		1.00		—			—		—		—		—			—			—		—			—		1.00		0.69			252,808		0.73			0.73			0.68			—
For the Year Ended December 31, 2003
Class IA		1.00		0.01			—		—		0.01		(0.01	)		—			—		(0.01	)		—		1.00		0.75			1,609,439		0.49			0.49			0.75			—
Class IB		1.00		—			—		—		—		—			—			—		—			—		1.00		0.50			240,930		0.74			0.74			0.50			—

(1)	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.
(2)	Ratios do not reflect reductions for fees paid indirectly. Please see Note 3(f).
(3)	Information presented relates to a share outstanding throughout the indicated period.
(4)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(5)	Total return without the inclusion of the Payment from (to) Affiliate, as noted on the Statements of Operations, can be found in Note 3(h).

­ ­  24  ­ ­

Report of Independent Registered Public Accounting Firm

The Board of Directors and Shareholders of
Hartford Series Fund, Inc. and
Hartford HLS Series Fund II, Inc.

We have audited the accompanying statements of assets and liabilities, including the schedule of investments, of Hartford Global Growth HLS Fund and Hartford Money Market HLS Fund (two of twenty-six portfolios constituting the Hartford Series Fund, Inc.) and Hartford Growth Opportunities HLS Fund (one of seven portfolios constituting the Hartford HLS Series Fund II, Inc.) (collectively, the “Funds”) as of December 31, 2007, and the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the periods indicated therein. These financial statements and financial highlights are the responsibility of the Funds’ management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Funds’ internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of investments owned as of December 31, 2007, by correspondence with the custodian, agent banks and brokers or by other appropriate auditing procedures where replies from agent banks or brokers were not received. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Hartford Global Growth HLS Fund and Hartford Money Market HLS Fund of Hartford Series Fund, Inc. and Hartford Growth Opportunities HLS Fund of Hartford HLS Series Fund II, Inc. at December 31, 2007, the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the periods indicated therein, in conformity with U.S. generally accepted accounting principles.

/s/ ERNST & YOUNG LLP

Minneapolis, Minnesota

February 11, 2008

­ ­  25  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Funds and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Funds pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Funds. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 89 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut, 06104-2999, except that correspondence to Ms. Fagely, Ms. Fleege, and Ms. Settimi may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, age, current position with the Funds and date first elected or appointed to Hartford Series Fund, Inc. (“SF”) and Hartford HLS Series Fund II, Inc. (“SF2”), principal occupation, and, for directors, other directorships held. The Funds’ statement of additional information contains further information on the directors and is available free of charge by calling 1-800-862-6668 or writing to Hartford HLS Funds, c/o Individual Annuity Services, P.O. Box 5085, Hartford, CT 06102-5085.

Information on the aggregate remuneration paid to the directors by each Fund can be found in the Statements of Operations herein. The Funds pay a portion of the Chief Compliance Officer’s compensation, but otherwise do not pay salaries or compensation to any of their officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (age 61) Director since 2003, Chairman of the Litigation Committee; Co-Chairman of the Investment Committee

Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (age 67) Director since 2002 (SF) and 1986 (SF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (age 62) Director since 2001 (SF) and 2002 (SF2), Chairman of the Nominating Committee

Mr. Hill is a Partner of TSG Ventures L.P., a private equity investment company. Mr. Hill is a former partner of TSG Capital Group, a private equity investment firm that serves as sponsor and lead investor in leveraged buyouts of middle market companies.

Sandra S. Jaffee (age 66) Director since 2005

Ms. Jaffee is Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (age 63) Director since 2005, Chairman of the Compliance Committee

In June 2006, Mr. Johnston was appointed as Senior Advisor to The Carlyle Group, a global private equity investment firm. In May 2006, Mr. Johnston was elected to the Supervisory Board of Fresenius Medical Care AG & Co. KGaA, after its acquisition of Renal Care Group, Inc. in March 2006. Mr. Johnston joined Renal Care Group in November 2002 as a member of the Board of Directors and served as Chairman of the Board from March 2003 through March 2006. From September 1987 to December 2002, Mr. Johnston was with Equitable Securities Corporation (and its successors, SunTrust Equitable Securities and SunTrust Robinson Humphrey) serving in various investment banking and managerial positions, including Managing Director and Head of Investment Banking, Chief Executive Officer and Vice Chairman.

Phillip O. Peterson (age 63) Director since 2002 (SF) and 2000 (SF2), Chairman of the Audit Committee

Mr. Peterson is a mutual fund industry consultant. He was a partner of KPMG LLP (an accounting firm) until July 1999. Mr. Peterson joined William Blair Funds in February 2007 as a member of the Board of Trustees. From January 2004 to April 2005, Mr. Peterson served as Independent President of the Strong Mutual Funds.

Lemma W. Senbet (age 61) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

­ ­  26  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Directors and Officers (Unaudited) — (continued)

Interested Directors and Officers

Thomas M. Marra (age 49) Director since 2002

Mr. Marra is President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”). He is also a member of the Board of Directors for The Hartford. Mr. Marra was named President and COO of The Hartford in 2007. He has served as COO of Hartford Life, Inc. from 2000, as President of Hartford Life, Inc. since 2002, and as Director of Hartford Life, Inc.’s Investment Products Division from 1998 to 2000.

Lowndes A. Smith (age 68) Director since 1996 (SF) and 2002 (SF2), Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002.

David M. Znamierowski (age 47) Director since 1999 (SF) and 2005 (SF2)

Mr. Znamierowski currently serves as Director and President of Hartford Investment Management Company (“Hartford Investment Management”), as Chief Investment Officer and Executive Vice President for The Hartford and Hartford Life, Inc., as Director, Chief Investment Officer and Executive Vice President of Hartford Life Insurance Company (“Hartford Life”) and as Chief Investment Officer for Hartford Administrative Services Company (“HASCO”).

Other Officers

Robert M. Arena, Jr. (age 39) Vice President since 2006

Mr. Arena serves as Senior Vice President of Hartford Life and heads its Retail Product Management Group in the U.S. Wealth Management Division. Additionally, Mr. Arena is Director and Senior Vice President of HASCO, Manager and Senior Vice President/Business Line Principal of Hartford Investment Financial Services, LLC (“HIFSCO”) and Manager and Senior Vice President of HL Investment Advisors LLC, (“HL Advisors”). Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Scandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (age 49) Vice President, Treasurer, and Controller since 1993

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition she is Controller and Chief Financial Officer of HIFSCO.

Susan Fleege (age 48) Anti-Money Laundering (“AML”) Compliance Officer since 2005

Ms. Fleege has served as Chief Compliance Officer for HASCO since 2005 and for Hartford Investor Services Company, LLC, (“HISC”) since 2006. She also serves as the AML Compliance Officer for HASCO and HISC. Prior to joining Hartford Life in 2005, Ms. Fleege was Counsel for Ameriprise Financial Corporation from 2000 to 2005.

Thomas D. Jones, III (age 42) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (age 40) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (age 43) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and Director of its Investment Advisory Group in the U.S. Wealth Management Division. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

Denise A. Settimi (age 47) Vice President since 2005

Ms. Settimi currently serves as Chief Operating Officer and Assistant Vice President of HASCO. She is also Assistant Vice President of HIFSCO and Hartford Life. Previously, Ms. Settimi was with American Express Financial Advisors, where she was Director of Retirement Plan Services from 1997 to 2003.

John C. Walters (age 45) President since 2007¹

Mr. Walters currently serves as President of the U.S. Wealth Management Division and Director of Hartford Life, Inc. Mr. Walters also serves as Co-Chief Executive Officer, Co-President and Director of Hartford Life and Executive Vice President of The Hartford. Mr. Walters previously served as Executive Vice President and Director of the Investment Products Division of Hartford Life, Inc. Mr. Walters is also Chief Executive Officer, Manager and President of HIFSCO and HL Advisors. Previously, Mr. Walters was with First Union Securities.

¹  As of November 7, 2007

­ ­  27  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

HOW TO OBTAIN A COPY OF THE FUNDS’ PROXY VOTING POLICIES AND PROXY VOTING RECORDS (UNAUDITED)

A description of the policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities and a record of how the Funds voted any proxies for the twelve-month period ended June 30, 2007 is available (1) without charge, upon request, by calling 800-862-6668 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION (UNAUDITED)

The Funds file a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Form N-Q will be available (1) without charge, upon request, by calling 800-862-6668 and (2) on the Securities and Exchange Commission’s website at www.sec.gov. The Forms N-Q may be reviewed and copied at the Securities and Exchange Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-202-551-8090.

­ ­  28  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs(in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of June 30, 2007 through December 31, 2007.

Actual Expenses

The first line of the table below provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6, then multiply the result by the number in the first line under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line of the table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would be higher.

Expenses are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid
	Beginning		Ending		during the period		Beginning		Ending		during the period					Days
	Account		Account		June 30, 2007		Account		Account		June 30, 2007		Annualized			in the		Days
	Value		Value		through		Value		Value		through		expense			current		in the
	June 30, 2007		December 31, 2007		December 31, 2007		June 30, 2007		December 31, 2007		December 31, 2007		ratio			1/2 year		full year
Hartford Global Growth HLS Fund(1)
Class IA	$	1,000.00	$	1,130.30	$	3.97	$	1,000.00	$	1,021.48	$	3.77		0.74	%		184		365
Class IB	$	1,000.00	$	1,127.60	$	5.31	$	1,000.00	$	1,020.21	$	5.04		0.99	%		184		365
Hartford Growth Opportunities HLS Fund
Class IA	$	1,000.00	$	1,110.55	$	3.40	$	1,000.00	$	1,021.98	$	3.26		0.64	%		184		365
Class IB	$	1,000.00	$	1,107.88	$	4.73	$	1,000.00	$	1,020.72	$	4.53		0.89	%		184		365
Hartford Money Market HLS Fund
Class IA	$	1,000.00	$	1,022.05	$	2.14	$	1,000.00	$	1,023.09	$	2.14		0.42	%		184		365
Class IB	$	1,000.00	$	1,019.51	$	3.41	$	1,000.00	$	1,021.83	$	3.41		0.67	%		184		365

(1) Formerly known as Hartford Global Leaders HLS Fund.

­ ­  29  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Approval of Investment Management, Investment Advisory and Amended Investment Sub-Advisory Agreements (Unaudited)

Section 15(c) of the Investment Company Act of 1940, as amended (the “1940 Act”), requires that each mutual fund’s board of directors, including a majority of those directors who are not “interested persons” of the mutual fund, as defined in the 1940 Act (“Independent Directors”), annually review and consider the continuation of the mutual fund’s investment advisory and sub-advisory agreements after an initial two year period.

At a meeting held on August 7-8, 2007, the Boards of Directors (the “Board”) of the Funds, including each of the Independent Directors, unanimously voted to approve the investment management agreement for each Fund with an agreement up for renewal with HL Investment Advisors, LLC (“HL Advisors”) and the investment sub-advisory agreements between HL Advisors and each Fund’s respective sub-adviser(s) (“sub-advisers,” and together with HL Advisors, “advisers”) — Hartford Investment Management Company (“Hartford Investment Management”) and Wellington Management Company, LLP (“Wellington”) (collectively, the “agreements”). In the months preceding this meeting, the Board requested, received, and reviewed written responses from the advisers to questions posed to them on behalf of the Independent Directors and supporting materials relating to those questions and responses. In addition, the Board received in-person presentations about each Fund and the related agreements by Fund officers and representatives of HL Advisors at the Board’s meetings on June 19-20, 2007 and August 7-8, 2007. In considering the approval of the agreements, the Board also took into account information provided to the Board at its meetings throughout the year, including reports on Fund performance, compliance, shareholder services, and the other services provided to the Funds by the advisers and their affiliates.

The Independent Directors, advised by independent legal counsel, engaged two service providers to assist them with evaluating the agreements with respect to each Fund. Lipper, Inc. (“Lipper”), an independent provider of investment company data, was retained to provide the Board with reports on how each Fund’s management fees, administrative fees, overall expense ratios, and investment performance compared to those of mutual funds with similar investment objectives in various peer groups (“peer funds”). The Independent Directors also engaged an independent financial services consulting firm (the “Consultant”) to assist them in evaluating each Fund’s advisory fees, administrative fees, overall expense ratios and investment performance.

The Board considered the agreements for each Fund at the June and August meetings. In connection with these deliberations, HL Advisors agreed to continue the voluntary management fee waiver with respect to a Fund. In determining to continue the agreements for each Fund, the Board determined that the proposed management fee structure, taking into account these revisions, was fair and reasonable and that continuation of the agreements was in the best interests of each Fund and its shareholders. In determining to re-approve the agreements, the Board considered the following categories of material factors, among others, relating to the agreements.

Nature, Extent and Quality of Services

The Board requested and considered information concerning the nature, extent, and quality of the services provided to the Funds by the advisers. The Board considered, among other things, the terms of the agreements, the range of services provided, and each adviser’s organizational structure, systems and personnel.¹ The Board received information on the experience of senior management and relevant investment and other personnel of the advisers, and the adequacy of the time and attention devoted by them to the Funds. The Board considered each adviser’s reputation and overall financial strength, as well as its willingness to consider and implement organizational and operational changes, including hiring additional personnel, designed to improve services to the Funds, and its investments in infrastructure in light of increased regulatory requirements and other developments. The Board considered the progress that Hartford Investment Management has made in developing an equity management capability. In addition, the Board considered the quality of each adviser’s communications with the Board and responsiveness to Board inquiries.

The Board also requested and evaluated information concerning each adviser’s regulatory and compliance environment. In this regard, the Board requested and reviewed information on each adviser’s compliance policies and procedures, their compliance history, and a report from the Funds’ Chief Compliance Officer on each adviser’s compliance with applicable laws and regulations, including their responses to regulatory developments and compliance issues raised by regulators. The Board also noted the advisers’ support of the Funds’ compliance control structure, particularly the resources devoted by the advisers in support of the Funds’ obligations pursuant to Rule 38a-1 under the 1940 Act.

With respect to HL Advisors, the Board noted that under the agreements, HL Advisors is responsible for the management of each Fund, including overseeing fund operations and service providers, and it or Hartford Life provides administrative services to the Funds as well as the investment advisory services in connection with selecting, monitoring and supervising sub-advisers. The Board considered its experiences with HL Advisors and, for certain Funds, Hartford Life, with respect to each of these services. The Board considered that HL Advisors or its affiliates is responsible for providing the Funds’ officers and paying their salaries and expenses. In addition, the Board considered the nature and quality of the services provided to the Funds and their shareholders by HL Advisors’ affiliates.

With respect to the sub-advisers, who provide day-to-day portfolio management services, the Board considered the quality of each sub-adviser’s investment personnel, their ability to attract and retain qualified investment professionals, their investment philosophy and process, investment research capabilities and resources, performance record, trade execution capabilities and experience.

Based on these considerations, the Board concluded that it was satisfied with the nature, extent and quality of the services provided to the Funds by HL Advisors and each of the sub-advisers.

Performance of the Funds, HL Advisors, and the Sub-Advisers

The Board considered the investment performance of each Fund. In this regard, the Board considered information and materials provided to the Board from HL Advisors and Lipper comparing each Fund’s short-term and long-term and recent investment performance over various periods of time with appropriate benchmark indices, and with a performance universe of funds selected by Lipper. This information included performance reports (provided by Lipper and HL Advisors) and

¹ Certain Funds have entered into investment management agreements with HL Advisors under which HL Advisors provides investment advisory and certain administrative services to those Funds. Other Funds have entered into investment management agreements with HL Advisors for investment advisory services, and a separate administrative agreement with Hartford Life Insurance Company (“Hartford Life”), under which Hartford Life provides certain administrative services to those Funds. For those Funds that have separate management and administrative agreements, the Board considered the fees payable under both agreements in the aggregate.

­ ­  30  ­ ­

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Approval of Investment Management, Investment Advisory and Amended Investment Sub-Advisory Agreement (Unaudited) — (continued)

discussions with portfolio managers and other representatives of the sub-advisers at Board meetings throughout the year, as well as the information provided especially for the annual contract review. The Board also considered the analysis provided by the Consultant relating to each Fund’s performance track record.

The Board considered HL Advisors’ cooperation with the Investment Committee, which assists the Board in evaluating the performance of the Funds at periodic meetings throughout the year. The Board reviewed the performance of each Fund over the different time periods presented in the materials and evaluated each adviser’s analysis of the Funds’ performance for these time periods, with specific attention to information indicating underperformance of certain funds for specific time periods relative to a peer group or benchmark, and the causes for such underperformance. In evaluating the performance of each Fund, the Board also considered whether the Fund had been in operation for a sufficient time period to establish a meaningful performance track record.

Based on these considerations, the Board concluded with respect to each Fund that the Fund’s performance over time has been satisfactory and the Board had continued confidence in HL Advisors’ and the sub-advisers’ overall capabilities to manage each Fund.

Costs of the Services and Profitability of HL Advisors and the Sub-Advisers

The Board reviewed information regarding HL Advisors’ cost to provide investment management and related services to the Funds and HL Advisors’ profitability, both overall and for each Fund, on a pre-tax basis without regard to distribution expenses. The Board considered the fact that HL Advisors has subsidized a Fund’s fees and total operating expenses through a voluntary management fee waiver. The Board also requested and reviewed information about the profitability to HL Advisors and its affiliates from all services provided to the Funds and all aspects of their relationship with the Funds. The Board noted that HL Advisors represented that the profitability information was calculated using the same methodology used by HL Advisors in 2006, a methodology which had been refined in 2006 as part of an independent third party review.

With respect to the Fund that is sub-advised by Hartford Investment Management, which is an affiliate of HL Advisors, the Board considered the costs and profitability information for HL Advisors and Hartford Investment Management in the aggregate. The Board also requested and received information relating to the operations and profitability of the other sub-adviser. In evaluating such sub-adviser’s profitability with respect to the Funds, the Board considered primarily HL Advisors’ and the sub-adviser’s representations that HL Advisors had negotiated the sub-advisory fees at arm’s length, and the sub-adviser’s representations that the fees charged to HL Advisors were comparable to fees charged by the sub-advisers to similar clients.

Based on these considerations, the Board concluded that the profits anticipated to be realized by the advisers and their affiliates from their relationships with the Funds would not be excessive.

Comparison of Fees and Services Provided by HL Advisors and the Sub-Advisers

The Board considered comparative information with respect to the investment management fees and administrative fees (for certain Funds) to be paid by the Funds to HL Advisors and its affiliates, the investment sub-advisory fees to be paid to the sub-advisers, and the total expense ratios of the Funds. In this regard, the Board requested and reviewed information from HL Advisors and each sub-adviser relating to the management fees, administrative fees (for certain Funds), sub-advisory fees, and total operating expenses for each Fund. The Board also reviewed written materials from Lipper providing comparative information about each Fund’s management fees, administrative fees and total expense ratios and the components thereof, relative to those of peer groups. While the Board recognized that comparisons between the Funds and peer funds are imprecise, given the differing service levels and characteristics of mutual funds, and the different business models and cost structures of advisers, the comparative information provided by Lipper assisted the Board in evaluating the reasonableness of each Fund’s management and sub-advisory fees and total operating expenses.

The Board particularly considered HL Advisors’ agreement to continue the voluntary management fee waiver with respect to a Fund. HL Advisors has agreed to the following fee revision, effective January 1, 2008:

Hartford Money Market HLS Fund: continue the 5 bps voluntary management fee waiver.

Based on these considerations, the Board concluded that each Fund’s fees and total operating expenses are within a range that is competitive with fees and total operating expenses charged by peer funds, and, in conjunction with the information about quality of services, profitability, economies of scale, and other matters discussed, are reasonable.

Economies of Scale

The Board requested and considered information regarding the advisers’ realization of economies of scale with respect to the Funds, and whether the fee levels reflect these economies of scale for the benefit of each Fund’s investors. With respect to HL Advisors, the Board considered representations from HL Advisors that it is difficult to anticipate whether and to what extent economies may be realized by HL Advisors as assets grow over time. The Board reviewed the breakpoints in the advisory fee schedule for each Fund (and administrative fee schedule for certain Funds), which reduce fees as Fund assets grow over time. The Board recognized that Funds with assets beyond the last breakpoint level continue to benefit from economies of scale, because additional assets are charged the lowest breakpoint fee, resulting in lower overall effective management fee rates. The Board considered that certain Funds may achieve some economies as certain fixed expenses are spread over a larger asset base, noting that there is no precise way to measure such economies, and that certain expenses do not necessarily decrease as assets increase. The Board also considered that expense limitations and fee waivers that reduce Fund expenses at all asset levels can have the same effect as breakpoints in sharing economies of scale with shareholders, and that a schedule that reaches a lower breakpoint quickly provides shareholders with the benefit of anticipated or potential economies of scale.

The Board reviewed and evaluated materials from Lipper showing how management fee schedules of peer funds reflect economies of scale for the benefit of investors as a peer fund’s assets hypothetically increase over time. Based on information provided by HL Advisors, Lipper, and the Consultant, the Board recognized that there is no uniform methodology for establishing breakpoints, or uniform pattern in asset levels that trigger breakpoints or the amounts of breakpoints triggered.

­ ­  31  ­ ­

After considering all of the information available to it, the Board concluded that it was satisfied with the extent to which economies of scale would be shared for the benefit of each Fund’s investors, based on currently available information and the effective advisory fees and expense ratios for the Funds at their current and reasonably anticipated asset levels. The Board noted, however, that it would continue to monitor future growth in Fund assets and the appropriateness of additional breakpoints.

Other Benefits

The Board considered other benefits to the advisers and their affiliates from their relationships with the Funds, including the role of the Funds in supporting the variable life insurance and variable annuity products offered by The Hartford. The Board reviewed information noting that Hartford Life, an affiliate of HL Advisors, receives fees from the certain Funds for providing certain administrative services for those Funds, and that Hartford Life also receives fees for fund accounting and related services from each of the Funds, and the Board considered information on expected profits to Hartford Life or its affiliates for such services. The Board considered the fact that Hartford Life had agreed to implement a new accounting services fee structure for the Funds with breakpoints. Based upon estimated expense information, this change will result in savings to Hartford-sponsored funds of approximately $250,000 per year.

The Board also considered that Hartford Investor Services Company, LLC (“HISC”), the Funds’ transfer agent and an affiliate of HL Advisors, receives transfer agency compensation from the Funds, and the Board reviewed information on the expected profitability of the Funds’ transfer agency function to HISC. The Board considered information provided by HL Advisors indicating that the fees charged by HISC to the Funds are reasonable and in line with industry standards.

The Board also considered that Hartford Securities Distribution Company, Inc. (“HSDC”), as principal underwriter of the Funds, receives 12b-1 fees from the Funds. The Board also noted that certain affiliates of HL Advisors distribute shares of the Funds and receive compensation in that connection.

The Board considered benefits to the sub-advisers from their proposed use of the Funds’ brokerage commissions to obtain soft dollar research, and representations from HL Advisors and the sub-advisers that the sub-advisers would not be making revenue-sharing or other payments to HL Advisors or its affiliates in connection with the distribution of the Funds.

The Board considered the benefits to shareholders of being part of the Hartford family of funds. The Board considered HL Advisors’ efforts to provide investors in the family with a broad range of investment styles and asset classes, and its entrepreneurial risk in initiating new funds to expand these opportunities for shareholders.

* * * *

Based upon its review of these various factors, among others, the Board concluded that it is in the best interests of the Funds and their shareholders for the Board to approve the agreements for an additional year. In reaching this decision, the Board did not assign relative weights to the factors discussed above or deem any one or group of them to be controlling in and of themselves. In connection with their deliberations, the Independent Directors met separately in executive session on several occasions, with independent legal counsel, to review the relevant materials and consider their responsibilities under relevant laws and regulations.

­ ­  32  ­ ­

Annual Report December 31, 2007
­ ­                                                     ­ ­

• Manager Discussions

• Financials

Hartford Money Market HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

Principal				Market
Amount				Value (W)
		Capital Goods — 1.9%
		Caterpillar, Inc.
$	52,000	4.20%, 01/10/2008		$	51,947
		Consumer Cyclical — 2.6%
		Eksportfinians
	27,500	4.31%, 01/14/2008 (I)			27,457
	42,700	4.71%, 04/03/2008 (I)			42,187
					69,644
		Consumer Staples — 4.7%
		KFW International Holdings
	26,250	4.28%, 01/15/2008 (I)			26,206
	27,700	4.31%, 01/17/2008 (I)			27,649
	31,600	4.41%, 02/05/2008 (I)			31,465
		Unilever Capital Corp.
	18,000	4.23%, 01/11/2008 (I)			17,979
	22,000	5.22%, 08/11/2008 (I)(L)			22,000
					125,299
		Energy — 3.0%
		ConocoPhillips Qatar Funding
	12,000	4.55%, 01/08/2008 (I)			11,989
	22,000	4.58%, 02/21/2008 (I)			21,858
	16,900	4.66%, 01/08/2008 (I)(L)			16,885
	7,500	4.82%, 01/23/2008 (I)			7,478
	20,600	4.98%, 01/23/2008 (I)			20,538
					78,748
		Finance — 83.3%
		American Express Credit Corp.
	9,102	3.50%, 01/02/2008			9,101
	34,050	4.33%, 01/16/2008			33,989
		American General Finance Corp.
	27,000	5.03%, 01/04/2008			26,989
	13,200	5.33%, 01/18/2008 (L)			13,201
		American Honda Finance Corp.
	13,500	4.26%, 01/15/2008			13,478
	26,300	4.85%, 05/12/2008 (I)(L)			26,300
	9,500	4.87%, 08/06/2008 (I)(L)			9,494
	21,300	5.17%, 09/18/2008 (I)(L)			21,300
		Australia & New Zealand Banking GR
	30,000	4.82%, 03/20/2008 (I)			29,689
	31,750	5.00%, 01/11/2008 (I)			31,706
	15,000	5.16%, 01/07/2008			14,987
		Bank of America Corp.
	57,200	4.65%, 02/28/2008 — 04/11/2008			56,632
	18,750	5.04%, 01/22/2008			18,695
		Bank of Scotland
	15,000	4.76%, 01/22/2008			14,958
	9,250	5.02%, 01/24/2008			9,220
	22,000	5.05%, 01/23/2008			21,933
		Bear Stearns & Co., Inc.
	19,000	5.02%, 01/28/2008			18,929
	22,000	5.09%, 08/14/2008 (L)			22,000
		Citibank NA
	12,750	5.11%, 03/07/2008			12,750
	27,350	5.14%, 03/04/2008			27,350
		Citigroup Funding, Inc.
	27,300	4.98%, 05/01/2008			26,850
		Danske Bank Corp.
	22,000	4.92%, 08/19/2008 (I)(L)			22,000
	21,500	4.94%, 03/10/2008			21,299
		Danske Bank Corp.
	31,000	5.37%, 02/11/2008			30,811
		Federal Home Loan Bank
	81,900	4.24%, 01/04/2008 — 01/11/2008			81,849
	54,000	4.27%, 01/11/2008			53,936
	28,250	4.31%, 01/30/2008			28,152
		Federal Home Loan Mortgage Corp.
	45,790	4.24%, 01/02/2008			45,785
	61,000	4.28%, 01/10/2008			60,940
		Federal National Mortgage Association
	34,000	4.20%, 01/09/2008			33,968
	25,800	4.26%, 01/22/2008			25,736
	25,014	4.27%, 02/01/2008			24,922
	20,289	4.30%, 02/22/2008			20,164
		General Electric Capital Corp.
	6,500	4.70%, 01/28/2008			6,477
	27,000	4.79%, 01/24/2008			26,918
	19,400	4.92%, 08/22/2008 (L)			19,400
	29,200	4.95%, 05/19/2008 (L)			29,204
		Goldman Sachs Group, Inc.
	26,250	4.83%, 01/14/2008			26,204
	39,500	4.84%, 01/18/2008			39,410
		HBOS Treasury Services plc
	26,440	5.23%, 09/08/2008 (I)(L)			26,438
		HSBC Finance Corp.
	18,000	4.72%, 02/04/2008			17,920
	22,500	5.26%, 09/06/2008 (L)			22,500
		JP Morgan Chase & Co.
	42,500	5.15%, 01/25/2008 (L)			42,501
	26,200	5.21%, 09/02/2008 (L)			26,200
		Lehman Brothers Holdings, Inc.
	45,250	4.25%, 01/02/2008			45,245
	22,000	5.00%, 10/27/2008 (L)			22,000
		Merrill Lynch & Co., Inc.
	29,000	4.61%, 06/26/2008 (L)			29,007
	22,000	5.04%, 08/22/2008 (L)			22,000
	15,500	5.11%, 01/31/2008			15,434
		Morgan Stanley Dean Witter, Inc.
	26,900	4.57%, 03/24/2008 (L)			26,900
	21,000	5.10%, 05/19/2008			20,595
	19,700	5.55%, 01/30/2008			19,612
		Nordea Bank Ab
	21,700	5.23%, 09/08/2008 (I)(L)			21,700
		Nordea North America
	18,000	4.76%, 02/14/2008			17,896
	28,600	5.05%, 02/04/2008			28,464
		Royal Bank of Scotland Group plc
	37,500	4.92%, 04/14/2008 (I)			36,979
	32,750	5.09%, 03/13/2008 (I)			32,420
		Skandinav Enskilda Bank
	36,650	5.00%, 01/23/2008 (I)			36,538
		Skandinaviska Enskilda Bank NY
	21,500	4.74%, 02/01/2008 (I)			21,414
	21,600	5.24%, 09/08/2008 (I)(L)	��		21,600
		State Street Corp.
	21,500	4.80%, 01/22/2008			21,500
	42,500	4.89%, 03/17/2008			42,500
		Svenska Handelsbanken Ab
	25,750	4.75%, 02/07/2008			25,750
	34,140	5.16%, 01/07/2008			34,112
	22,000	5.17%, 11/12/2008 (I)(L)			22,000

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

­ ­  2  ­ ­

Principal					Market
Amount					Value (W)
		Finance — (continued)
		Swedbank
$	32,500	4.75%, 04/08/2008			$	32,086
	33,500	4.78%, 02/28/2008				33,244
	10,500	5.24%, 01/10/2008				10,486
		Toyota Motor Credit Corp.
	53,000	4.05%, 07/17/2008 (L)				53,000
	31,000	4.55%, 02/08/2008				30,852
	21,000	4.69%, 01/25/2008				20,934
		UBS Finance LLC
	24,053	4.23%, 01/02/2008				24,050
	30,000	4.85%, 02/26/2008				29,775
	21,500	4.94%, 03/19/2008				21,272
	24,500	4.98%, 04/07/2008				24,176
		Wachovia Bank NA
	18,000	4.98%, 03/31/2008				18,000
	46,700	5.24%, 02/04/2008				46,700
		Wells Fargo & Co.
	22,000	4.91%, 08/15/2008 (L)				22,000
	29,525	5.29%, 03/10/2008 (L)				29,529
		Westpac Banking Corp.
	25,750	4.67%, 02/05/2008				25,634
	30,000	4.70%, 01/30/2008				29,888
	21,600	5.02%, 09/15/2008 (I)(L)				21,600
						2,229,177
		Services — 2.4%
		Walt Disney Co.
	18,000	4.54%, 02/01/2008				17,930
	12,750	4.73%, 01/07/2008				12,740
	34,250	4.86%, 01/23/2008				34,149
						64,819
		Technology — 2.4%
		John Deere Capital Corp.
	31,750	4.51%, 01/30/2008				31,635
	32,750	4.74%, 02/01/2008				32,617
						64,252
		Total investments (cost $2,683,886) (C)	100.3	%	$	2,683,886
		Other assets and liabilities	(0.3	)%		(6,786	)
		Total net assets	100.0	%	$	2,677,100

Note:  Percentage of investments as shown is the ratio of the total market value to total net assets. The rates presented in this Schedule of Investments are yields, unless otherwise noted. Market value of investments in foreign securities represents 25.71% of total net assets at December 31, 2007.

(C)	Also represents cost for tax purposes.
(I)	Securities issued within terms of a private placement memorandum, exempt from registration under Section 144A of 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, 2007, was $654,869, which represents 24.46% of total net assets.
(L)	Variable rate securities; the yield reported is the rate in effect at December 31, 2007.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of December 31, 2007

	Percentage of
Country	Net Assets
Australia		4.6	%
Denmark		4.0
Norway		2.6
Sweden		4.2
Switzerland		5.0
United Kingdom		5.3
United States		74.6
Other Assets and Liabilities		(0.3	)
Total		100.0	%

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

­ ­  3  ­ ­

Hartford Money Market HLS Fund

Statement of Assets and Liabilities
December 31, 2007
(000’s Omitted)

	Hartford
	Money Market
	HLS Fund
Assets:
Investments in securities, at value; (amortized cost for Money Market) @	$	2,683,886
Cash		406
Receivables:
Fund shares sold		4,588
Dividends and interest		4,003
Other assets		26
Total assets		2,692,909
Liabilities:
Payables:
Fund shares redeemed		15,463
Investment management and advisory fees (Note 3)		104
Administrative fee		88
Distribution fees (Note 3)		18
Accrued expenses		136
Total liabilities		15,809
Net assets	$	2,677,100
Summary of Net Assets:
Capital stock and paid-in-capital	$	2,677,100
Net assets	$	2,677,100
Shares authorized		7,000,000
Par value	$	0.001
Class IA: Net asset value per share	$	1.00
Shares outstanding		2,224,124
Net assets	$	2,224,124
Class IB: Net asset value per share	$	1.00
Shares outstanding		452,976
Net assets	$	452,976
@ Cost of securities	$	2,683,886

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

­ ­  4  ­ ­

Hartford Money Market HLS Fund

Statement of Operations
For the Year Ended December 31, 2007
(000’s Omitted)

	Hartford
	Money Market
	HLS Fund
Investment Income:
Interest	$	119,143
Total investment income, net		119,143
Expenses:
Investment management and advisory fees		5,525
Administrative services fees		4,538
Distribution fees — Class IB		970
Custodian fees		3
Accounting services		340
Board of Directors’ fees		38
Other expenses		324
Total expenses (before waiver and fees paid indirectly)		11,738
Expense waiver		(1,134	)
Custodian fee offset		(2	)
Total waiver and fees paid indirectly		(1,136	)
Total expenses, net		10,602
Net investment income		108,541
Net Realized Gain on Investments:
Net realized gain on investments		52
Net Realized Gain on Investments:		52
Net Increase in Net Assets Resulting from Operations	$	108,593

­ ­  5  ­ ­

Hartford Money Market HLS Fund

Statement of Changes in Net Assets

(000’s Omitted)

	Hartford
	Money Market HLS Fund
	For the			For the
	Year Ended			Year Ended
	December 31, 2007			December 31, 2006
Operations:
Net investment income	$	108,541		$	81,038
Net realized gain on investments		52			1
Net increase in net assets resulting from operations		108,593			81,039
Distributions to Shareholders:
From net investment income
Class IA		(90,770	)		(67,958	)
Class IB		(17,771	)		(13,080	)
From net realized gain on investments
Class IA		(43	)		(1	)
Class IB		(9	)		—
Total distributions		(108,593	)		(81,039	)
Capital Share Transactions:
Class IA
Sold		2,394,176			1,780,507
Issued on reinvestment of distributions		90,667			68,099
Redeemed		(1,819,153	)		(1,644,009	)
Total capital share transactions		665,690			204,597
Class IB
Sold		503,545			300,900
Issued on reinvestment of distributions		17,750			13,111
Redeemed		(388,244	)		(258,125	)
Total capital share transactions		133,051			55,886
Net increase from capital share transactions		798,741			260,483
Net increase in net assets		798,741			260,483
Net Assets:
Beginning of period		1,878,359			1,617,876
End of period	$	2,677,100		$	1,878,359
Accumulated undistributed (distribution in excess of) net investment income	$	—		$	—
Shares:
Class IA
Sold		2,394,177			1,780,507
Issued on reinvestment of distributions		90,667			68,099
Redeemed		(1,819,153	)		(1,644,009	)
Total share activity		665,691			204,597
Class IB
Sold		503,545			300,900
Issued on reinvestment of distributions		17,750			13,111
Redeemed		(388,245	)		(258,125	)
Total share activity		133,050			55,886

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

­ ­  6  ­ ­

Hartford Money Market HLS Fund

Notes to Financial Statements
December 31, 2007
(000’s Omitted)

1.  Organization:

Hartford Money Market HLS Fund (the “Fund”) serves as an underlying investment option for certain variable annuity and variable life insurance separate accounts of Hartford Life Insurance Company (“HLIC”) and its affiliates and certain qualified retirement plans. The Fund may also serve as an underlying investment option for certain variable annuity and variable life insurance separate accounts of other insurance companies. Owners of variable annuity contracts and policy holders of variable life insurance contracts may choose the funds permitted in the accompanying variable insurance contract prospectus. In addition, participants in certain qualified retirement plans may choose the funds permitted by their plans.

Hartford Series Fund, Inc. (the “Company”) is an open-end management investment company comprised of twenty-six portfolios (each a “Fund” or together the “Funds”) (one, Hartford Money Market HLS Fund, is included in these financials). The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940 (“1940 Act”), as amended , as a diversified open-end management investment company.

The Fund is divided into Class IA and IB shares. Each class is offered at Net Asset Value (“NAV”) without a sales charge and is subject to the same expenses, except that the Class IB shares are subject to distribution fees charged pursuant to Distribution and Service Plans. Distribution and Service Plans have been adopted in accordance with Rule 12b-1 of the 1940 Act.

Indemnifications — Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland Corporate Law and federal securities law. In addition, the Company on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

2.  Significant Accounting Policies:

The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) in the investment company industry:

a)	Security Transactions — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.
b)	Security Valuation — Hartford Money Market HLS Fund’s investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.
c)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”) a wholly-owned subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
d)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security (ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest receivable. The Fund held no repurchase agreements as of December 31, 2007.
e)	Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders or otherwise complying with the requirements of a regulated investment company. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains prior to the next fiscal year end. Accordingly, no provision for federal income taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

The tax character of distributions paid for the periods indicated is as follows (adjusted for dividends payable) — from ordinary income were $108,593 and $81,039 for the years ended December 31, 2007 and 2006, respectively.

f)

Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the Financial Accounting Standards Board (FASB) released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. Management has evaluated the implications of FIN 48 and has determined there is no impact to the Fund’s financial statements.

g)

Fund Share Valuation and Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the contract holders or plan participants. The NAV of the Fund’s shares is determined as of the close of each business day of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time). The NAV per share is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares received by an insurance company or plan prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the per-share net asset value determined as of the close of the Exchange. Orders received after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined per-share NAV.

­ ­  7  ­ ­

Hartford Money Market HLS Fund

Notes to Financial Statements — (continued)
December 31, 2007
(000’s Omitted)

The Fund seeks to maintain a stable NAV per share of $1.00 by declaring a daily dividend from net investment income, including net short-term capital gains and losses and by valuing its investments using the amortized cost method. Dividends are declared daily and distributed monthly.

h)	Illiquid and Restricted Securities — Hartford Money Market HLS Fund may invest up to 10% in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine a Fund’s NAV per share. A Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments and investment in them may have an adverse impact on NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors.
i)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, lower rated bonds have higher credit risk. High yield bond prices can fall on bad news about the economy, an industry or a company. The share price, yield and total return of a fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.
j)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
k)	Financial Accounting Standards Board Financial Accounting Standard No. 157 — In September 2006, FASB Issued Statement on Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. FAS 157 is effective for the Fund’s financial statements issued for the fiscal years beginning after November 15, 2007, and interim periods within those fiscal years. Management has evaluated the impact of the standard and does not believe the adoption of FAS 157 will impact the amounts reported in the financial statements; however, additional disclosures will be required about the inputs used to develop the measurements of fair value and the effect of certain measurements reported in the Statement of Operations for a fiscal period.

3.  Expenses:

a)  Investment Management and Advisory Agreements — HL Investment Advisors, LLC (“HL Advisors”), an indirect wholly-owned subsidiary of The Hartford, serves as investment manager to the Fund pursuant to an Investment Management Agreement with Hartford Series Fund, Inc. As investment manager, HL Advisors has overall investment supervisory responsibility for the Fund. In addition, HL Advisers provides administrative personnel, services, equipment and facilities and office space for proper operation of the Fund.

In addition, HL Advisors has contracted with Hartford Investment Management for provision of the day-to-day investment management services for the Fund in accordance with the Fund’s investment objective and policies.

b)  Administrative Services Agreement — Under the Administrative Services Agreement between HLIC and the Fund, HLIC provides administrative services to the Fund and receives monthly compensation at the annual rate of 0.20% of the Fund’s average daily net assets. The Fund assumes and pays certain other expenses (including, but not limited to, accounting, custodian, state taxes and directors’ fees). Directors’ fees represent remuneration paid or accrued to directors not affiliated with HLIC or any other related company.

The schedule below reflects the rates of compensation paid to HL Advisors for investment management services and HLIC for administrative services rendered during the year ended December 31, 2007; the rates are accrued daily and paid monthly.

Average Daily Net Assets	Annual Rate
On first $2 billion		0.450	%
On next $3 billion		0.400	%
On next $5 billion		0.380	%
Over $10 billion		0.370	%

Effective January 1, 2007, HL Advisors voluntarily agreed to waive management fees of 0.05% of average daily net assets until December 31, 2007. This waiver will be continued until December 31, 2008.

c)	Accounting Services Agreement — Under the Fund Accounting Agreement between HLIC and Hartford Money Market HLS Fund, HLIC provides accounting services to the Fund and receives monthly compensation at the annual rate of 0.015% of the Fund’s average daily net assets. The Fund’s accounting services fees are accrued daily and paid monthly.
d)	Other Related Party Transactions — The Hartford provided certain legal services to the Fund, for which the Fund was charged $2 for the year ended December 31, 2007. Certain officers of the Fund are Directors and/or officers of HL Advisors, Hartford Investment Management and /or The Hartford or its subsidiaries. For the year ended December 31, 2007, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $4. Hartford Investor Services Company LLC (“HISC”), a wholly-owned subsidiary of The Hartford, provides transfer agent services to the Fund. HISC was compensated $4 for providing such services. The Fund accrues these fees daily and pays monthly.
e)	Operating Expenses — Allocable expenses of the Fund are charged to the Fund based on the ratio of the net assets of the Fund to the combined net assets of the HLS Funds. Non-allocable expenses are charged to the Fund based on specific identification.

­ ­  8  ­ ­

f)  Fees Paid Indirectly — The Fund has entered into agreements with the State Street Global Markets, LLC and Frank Russell Securities, Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank, State Street Bank & Trust, has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2007, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratios for the periods listed below would have been as follows:

For the

For the

For the

For the

Year Ended

Year Ended

Year Ended

Year Ended

December 31, 2007

December 31, 2006

December 31, 2005

December 31, 2004

Ratio of Expenses

Ratio of Expenses

Ratio of Expenses

Ratio of Expenses

to Average Net

to Average Net

to Average Net

to Average Net

Assets After

Assets After

Assets After

Assets After

Waivers and Offsets

Waivers and Offsets

Waivers and Offsets

Waivers and Offsets

Fund

Class IA

Class IB

Class IA

Class IB

Class IA

Class IB

Class IA

Class IB

Hartford Money Market HLS Fund

0.42

%

0.67

%

0.48

%

0.73

%

0.49

%

0.74

%

0.48

%

0.73

%

g)  Distribution Plan for Class IB shares — The Fund has adopted a Distribution Plan pursuant to Rule 12b-1 under the 1940 Act for the Class IB shares. Pursuant to the Distribution Plan, the Fund compensates the Distributor, Hartford Securities Distribution Company, Inc. (a wholly owned, ultimate subsidiary of Hartford Life, Inc. (“Hartford Life”)) from assets attributable to the Class IB shares for services rendered and expenses borne in connection with activities primarily intended to result in the sale of the Class IB shares.

The Distribution Plan provides that the Fund may pay annually up to 0.25% of the average daily net assets of the Fund attributable to its Class IB shares for activities primarily intended to result in the sale of Class IB shares. Under the terms of the Distribution Plan and the principal underwriting agreement, each Fund is authorized to make payments monthly to the Distributor which may be used to pay or reimburse entities providing distribution and shareholder servicing with respect to the Class IB shares for such entities’ fees or expenses incurred or paid in that regard. The Fund’s distribution fees are accrued daily and paid monthly.

4.  Investment Transactions:

For the year ended December 31, 2007, the cost of proceeds from sales of securities for Hartford Money Market HLS Fund was $36,997,029 and $36,190,030, respectively.

­ ­  9  ­ ­

Hartford Money Market HLS Fund

Financial Highlights

	— Selected Per-Share Data(3) —
							Net											— Ratios and Supplemental Data —
							Realized														Net									Ratio of			Ratio of			Ratio of
							and							Distributions							Increase									Expenses			Expenses			Net
	Net Asset		Net				Unrealized		Total		Dividends			from							(Decrease)		Net Asset					Net Assets		to Average			to Average			Investment
	Value at		Investment		Payment		Gain		from		from Net			Realized		Distributions					in Net		Value at					at End of		Net Assets			Net Assets			Income
	Beginning		Income		from (to)		(Loss) on		Investment		Investment			Capital		from		Total			Asset		End		Total			Period		Before			After			to Average
	of Period		(Loss)		Affiliate		Investments		Operations		Income			Gains		Capital		Distributions			Value		of Period		Return(1)			(000’s)		Waivers(2)			Waivers(2)			Net Assets
Hartford Money Market HLS Fund
For the Year Ended December 31, 2007
Class IA	$	1.00	$	0.05	$	—	$	—	$	0.05	$	(0.05	)	$	—	$	—	$	(0.05	)	$	—	$	1.00		4.95	%	$	2,224,124		0.47	%		0.42	%		4.83	%
Class IB		1.00		0.05		—		—		0.05		(0.05	)		—		—		(0.05	)		—		1.00		4.69			452,976		0.72			0.67			4.58
For the Year Ended December 31, 2006
Class IA		1.00		0.05		—		—		0.05		(0.05	)		—		—		(0.05	)		—		1.00		4.69			1,558,433		0.48			0.48			4.63
Class IB		1.00		0.04		—		—		0.04		(0.04	)		—		—		(0.04	)		—		1.00		4.43			319,926		0.73			0.73			4.38
For the Year Ended December 31, 2005
Class IA		1.00		0.03		—		—		0.03		(0.03	)		—		—		(0.03	)		—		1.00		2.84			1,353,836		0.49			0.49			2.79
Class IB		1.00		0.03		—		—		0.03		(0.03	)		—		—		(0.03	)		—		1.00		2.58			264,040		0.75			0.75			2.54
For the Year Ended December 31, 2004
Class IA		1.00		—		—		—		—		—			—		—		—			—		1.00		0.94			1,294,525		0.48			0.48			0.93
Class IB		1.00		—		—		—		—		—			—		—		—			—		1.00		0.69			252,808		0.73			0.73			0.68
For the Year Ended December 31, 2003
Class IA		1.00		0.01		—		—		0.01		(0.01	)		—		—		(0.01	)		—		1.00		0.75			1,609,439		0.49			0.49			0.75
Class IB		1.00		—		—		—		—		—			—		—		—			—		1.00		0.50			240,930		0.74			0.74			0.50

(1)	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.
(2)	Ratios do not reflect reductions for fees paid indirectly. Please see Note 3(f).
(3)	Information presented relates to a share outstanding throughout the indicated period.

­ ­  10  ­ ­

Report of Independent Registered Public Accounting Firm

The Board of Directors and Shareholders of
Hartford Series Fund, Inc.

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Hartford Money Market HLS Fund (one of twenty-six portfolios constituting the Hartford Series Fund, Inc.) (the “Fund”) as of December 31, 2007, and the related statement of operations for the year then ended, the statement of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the periods indicated therein. These financial statements and financial highlights are the responsibility of the Funds’ management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Funds’ internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of investments owned as of December 31, 2007, by correspondence with the custodian, agent banks and brokers or by other appropriate auditing procedures where replies from agent banks or brokers were not received. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Hartford Money Market HLS Fund of Hartford Series Fund, Inc. at December 31, 2007, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the periods indicated therein, in conformity with U.S. generally accepted accounting principles.

/s/ ERNST & YOUNG LLP

Minneapolis, Minnesota

February 11, 2008

­ ­  11  ­ ­

Hartford Money Market HLS Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 89 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut, 06104-2999, except that correspondence to Ms. Fagely, Ms. Fleege, and Ms. Settimi may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, age, current position with the Fund and date first elected or appointed to Hartford Series Fund, Inc. (“SF”) and Hartford HLS Series Fund II, Inc. (“SF2”), principal occupation, and, for directors, other directorships held. The Funds’ statement of additional information contains further information on the directors and is available free of charge by calling 1-800-862-6668 or writing to Hartford HLS Funds, c/o Individual Annuity Services, P.O. Box 5085, Hartford, CT 06102-5085.

Information on the aggregate remuneration paid to the directors by each Fund can be found in the Statement of Operations herein. The Funds pay a portion of the Chief Compliance Officer’s compensation, but otherwise do not pay salaries or compensation to any of their officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (age 61) Director since 2003, Chairman of the Litigation Committee; Co-Chairman of the Investment Committee

Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (age 67) Director since 2002 (SF) and 1986 (SF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (age 62) Director since 2001 (SF) and 2002 (SF2), Chairman of the Nominating Committee

Mr. Hill is a Partner of TSG Ventures L.P., a private equity investment company. Mr. Hill is a former partner of TSG Capital Group, a private equity investment firm that serves as sponsor and lead investor in leveraged buyouts of middle market companies.

Sandra S. Jaffee (age 66) Director since 2005

Ms. Jaffee is Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (age 63) Director since 2005, Chairman of the Compliance Committee

In June 2006, Mr. Johnston was appointed as Senior Advisor to The Carlyle Group, a global private equity investment firm. In May 2006, Mr. Johnston was elected to the Supervisory Board of Fresenius Medical Care AG & Co. KGaA, after its acquisition of Renal Care Group, Inc. in March 2006. Mr. Johnston joined Renal Care Group in November 2002 as a member of the Board of Directors and served as Chairman of the Board from March 2003 through March 2006. From September 1987 to December 2002, Mr. Johnston was with Equitable Securities Corporation (and its successors, SunTrust Equitable Securities and SunTrust Robinson Humphrey) serving in various investment banking and managerial positions, including Managing Director and Head of Investment Banking, Chief Executive Officer and Vice Chairman.

Phillip O. Peterson (age 63) Director since 2002 (SF) and 2000 (SF2), Chairman of the Audit Committee

Mr. Peterson is a mutual fund industry consultant. He was a partner of KPMG LLP (an accounting firm) until July 1999. Mr. Peterson joined William Blair Funds in February 2007 as a member of the Board of Trustees. From January 2004 to April 2005, Mr. Peterson served as Independent President of the Strong Mutual Funds.

Lemma W. Senbet (age 61) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

­ ­  12  ­ ­

Interested Directors and Officers

Thomas M. Marra (age 49) Director since 2002

Mr. Marra is President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”). He is also a member of the Board of Directors for The Hartford. Mr. Marra was named President and COO of The Hartford in 2007. He has served as COO of Hartford Life, Inc. from 2000, as President of Hartford Life, Inc. since 2002, and as Director of Hartford Life, Inc.’s Investment Products Division from 1998 to 2000.

Lowndes A. Smith (age 68) Director since 1996 (SF) and 2002 (SF2), Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002.

David M. Znamierowski (age 47) Director since 1999 (SF) and 2005 (SF2)

Mr. Znamierowski currently serves as Director and President of Hartford Investment Management Company (“Hartford Investment Management”), as Chief Investment Officer and Executive Vice President for The Hartford and Hartford Life, Inc., as Director, Chief Investment Officer and Executive Vice President of Hartford Life Insurance Company (“Hartford Life”) and as Chief Investment Officer for Hartford Administrative Services Company (“HASCO”).

Other Officers

Robert M. Arena, Jr. (age 39) Vice President since 2006

Mr. Arena serves as Senior Vice President of Hartford Life and heads its Retail Product Management Group in the U.S. Wealth Management Division. Additionally, Mr. Arena is Director and Senior Vice President of HASCO, Manager and Senior Vice President/Business Line Principal of Hartford Investment Financial Services, LLC (“HIFSCO”) and Manager and Senior Vice President of HL Investment Advisors LLC, (“HL Advisors”). Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Scandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (age 49) Vice President, Treasurer, and Controller since 1993

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition she is Controller and Chief Financial Officer of HIFSCO.

Susan Fleege (age 48) Anti-Money Laundering (“AML”) Compliance Officer since 2005

Ms. Fleege has served as Chief Compliance Officer for HASCO since 2005 and for Hartford Investor Services Company, LLC, (“HISC”) since 2006. She also serves as the AML Compliance Officer for HASCO and HISC. Prior to joining Hartford Life in 2005, Ms. Fleege was Counsel for Ameriprise Financial Corporation from 2000 to 2005.

��

Thomas D. Jones, III (age 42) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (age 40) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (age 43) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and Director of its Investment Advisory Group in the U.S. Wealth Management Division. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

Denise A. Settimi (age 47) Vice President since 2005

Ms. Settimi currently serves as Chief Operating Officer and Assistant Vice President of HASCO. She is also Assistant Vice President of HIFSCO and Hartford Life. Previously, Ms. Settimi was with American Express Financial Advisors, where she was Director of Retirement Plan Services from 1997 to 2003.

John C. Walters (age 45) President since 2007¹

Mr. Walters currently serves as President of the U.S. Wealth Management Division and Director of Hartford Life, Inc. Mr. Walters also serves as Co-Chief Executive Officer, Co-President and Director of Hartford Life and Executive Vice President of The Hartford. Mr. Walters previously served as Executive Vice President and Director of the Investment Products Division of Hartford Life, Inc. Mr. Walters is also Chief Executive Officer, Manager and President of HIFSCO and HL Advisors. Previously, Mr. Walters was with First Union Securities.

¹As of November 7, 2007

­ ­  13  ­ ­

Hartford Money Market HLS Fund

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND PROXY VOTING RECORDS (UNAUDITED)

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2007 is available (1) without charge, upon request, by calling 800-862-6668 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION (UNAUDITED)

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Form N-Q will be available (1) without charge, upon request, by calling 800-862-6668 and (2) on the Securities and Exchange Commission’s website at www.sec.gov. The Forms N-Q may be reviewed and copied at the Securities and Exchange Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-202-551-8090.

­ ­  14  ­ ­

Hartford Money Market HLS Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs(in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of June 30, 2007 through December 31, 2007.

Actual Expenses

The first line of the table below provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6, then multiply the result by the number in the first line under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line of the table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would be higher.

Expenses are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid
	Beginning		Ending		during the period		Beginning		Ending		during the period					Days
	Account		Account		June 30, 2007		Account		Account		June 30, 2007		Annualized			in the		Days
	Value		Value		through		Value		Value		through		expense			current		in the
	June 30, 2007		December 31, 2007		December 31, 2007		June 30, 2007		December 31, 2007		December 31, 2007		ratio			1/2 year		full year
Hartford Money Market HLS Fund
Class IA	$	1,000.00	$	1,022.05	$	2.14	$	1,000.00	$	1,023.09	$	2.14		0.42	%		184		365
Class IB	$	1,000.00	$	1,019.51	$	3.41	$	1,000.00	$	1,021.83	$	3.41		0.67	%		184		365

­ ­  15  ­ ­

Hartford Money Market HLS Fund

Approval of Investment Management, Investment Advisory and Amended Investment Sub-Advisory Agreements (Unaudited)

Section 15(c) of the Investment Company Act of 1940, as amended (the “1940 Act”), requires that each mutual fund’s board of directors, including a majority of those directors who are not “interested persons” of the mutual fund, as defined in the 1940 Act (“Independent Directors”), annually review and consider the continuation of the mutual fund’s investment advisory and sub-advisory agreements after an initial two year period.

At a meeting held on August 7-8, 2007, the Board of Directors (the “Board”) of the Fund, including each of the Independent Directors, unanimously voted to approve the investment management agreement for the Fund with an agreement up for renewal with HL Investment Advisors, LLC (“HL Advisors”) and the investment sub-advisory agreement between HL Advisors and the Fund’s sub-adviser (“sub-adviser,” and together with HL Advisors, “advisers”) — Hartford Investment Management Company (“Hartford Investment Management”) (collectively, the “agreements”). In the months preceding this meeting, the Board requested, received, and reviewed written responses from the advisers to questions posed to them on behalf of the Independent Directors and supporting materials relating to those questions and responses. In addition, the Board received in-person presentations about the Fund and the related agreements by Fund officers and representatives of HL Advisors at the Board’s meetings on June 19-20, 2007 and August 7-8, 2007. In considering the approval of the agreements, the Board also took into account information provided to the Board at its meetings throughout the year, including reports on Fund performance, compliance, shareholder services, and the other services provided to the Fund by the advisers and their affiliates.

The Independent Directors, advised by independent legal counsel, engaged two service providers to assist them with evaluating the agreements with respect to the Fund. Lipper, Inc. (“Lipper”), an independent provider of investment company data, was retained to provide the Board with reports on how the Fund’s management fee, administrative fee, overall expense ratio, and investment performance compared to those of mutual funds with similar investment objectives in a peer group (“peer funds”). The Independent Directors also engaged an independent financial services consulting firm (the “Consultant”) to assist them in evaluating the Fund’s advisory fee, administrative fee, overall expense ratio and investment performance.

The Board considered the agreements for the Fund at the June and August meetings. In connection with these deliberations, HL Advisors agreed to continue the voluntary management fee waiver with respect to the Fund. In determining to continue the agreements for the Fund, the Board determined that the proposed management fee structure, taking into account these revisions, was fair and reasonable and that continuation of the agreements was in the best interests of the Fund and its shareholders. In determining to re-approve the agreements, the Board considered the following categories of material factors, among others, relating to the agreements.

Nature, Extent and Quality of Services

The Board requested and considered information concerning the nature, extent, and quality of the services provided to the Fund by the advisers. The Board considered, among other things, the terms of the agreements, the range of services provided, and each adviser’s organizational structure, systems and personnel.¹ The Board received information on the experience of senior management and relevant investment and other personnel of the advisers, and the adequacy of the time and attention devoted by them to the Fund. The Board considered each adviser’s reputation and overall financial strength, as well as its willingness to consider and implement organizational and operational changes, including hiring additional personnel, designed to improve services to the Fund, and its investments in infrastructure in light of increased regulatory requirements and other developments. The Board considered the progress that Hartford Investment Management has made in developing an equity management capability. In addition, the Board considered the quality of each adviser’s communications with the Board and responsiveness to Board inquiries.

The Board also requested and evaluated information concerning each adviser’s regulatory and compliance environment. In this regard, the Board requested and reviewed information on each adviser’s compliance policies and procedures, their compliance history, and a report from the Fund’s Chief Compliance Officer on each adviser’s compliance with applicable laws and regulations, including their responses to regulatory developments and compliance issues raised by regulators. The Board also noted the advisers’ support of the Fund’s compliance control structure, particularly the resources devoted by the advisers in support of the Fund’s obligations pursuant to Rule 38a-1 under the 1940 Act.

With respect to HL Advisors, the Board noted that under the agreements, HL Advisors is responsible for the management of the Fund, including overseeing fund operations and service providers, and Hartford Life provides administrative services to the Fund, as well as the investment advisory services in connection with selecting, monitoring and supervising sub-advisers. The Board considered its experiences with HL Advisors and Hartford Life with respect to each of these services. The Board considered that HL Advisors or its affiliates is responsible for providing the Fund’s officers and paying their salaries and expenses. In addition, the Board considered the nature and quality of the services provided to the Fund and its shareholders by HL Advisors’ affiliates.

With respect to the sub-adviser, who provides day-to-day portfolio management services, the Board considered the quality of the sub-adviser’s investment personnel, its ability to attract and retain qualified investment professionals, its investment philosophy and process, investment research capabilities and resources, performance record, trade execution capabilities and experience.

Based on these considerations, the Board concluded that it was satisfied with the nature, extent and quality of the services provided to the Fund by HL Advisors and the sub-advisers.

Performance of the Fund, HL Advisors, and the Sub-Adviser

The Board considered the investment performance of the Fund. In this regard, the Board considered information and materials provided to the Board from HL Advisors and Lipper comparing the Fund’s short-term and long-term investment performance over various periods of time with appropriate benchmark indices, and with a performance universe of funds selected by Lipper. This information included performance reports (provided by Lipper and HL Advisors) and discussions with portfolio managers and other representatives of the sub-adviser at Board meetings throughout the year, as well as the information provided especially for the annual contract review. The Board also considered the analysis provided by the Consultant relating to the Fund’s performance track record.

¹ The Fund has entered into an investment management agreement with HL Advisors for investment advisory services, and a separate administrative agreement with Hartford Life Insurance Company (“Hartford Life”), under which Hartford Life provides certain administrative services to the Fund. The Board considered the fees payable under both agreements in the aggregate.

­ ­  16  ­ ­

The Board considered HL Advisors’ cooperation with the Investment Committee, which assists the Board in evaluating the performance of the Fund at periodic meetings throughout the year. The Board reviewed the performance of the Fund over the different time periods presented in the materials and evaluated each adviser’s analysis of the Fund’s performance for these time periods, with specific attention to information indicating underperformance of certain funds for specific time periods relative to a peer group or benchmark, and the causes for such underperformance. In evaluating the performance of the Fund, the Board also considered whether the Fund had been in operation for a sufficient time period to establish a meaningful performance track record.

Based on these considerations, the Board concluded with respect to the Fund that the Fund’s performance over time has been satisfactory and the Board had continued confidence in HL Advisors’ and the sub-adviser’s overall capabilities to manage the Fund.

Costs of the Services and Profitability of HL Advisors and the Sub-Adviser

The Board reviewed information regarding HL Advisors’ cost to provide investment management and related services to the Fund and HL Advisors’ profitability, both overall and for the Fund, on a pre-tax basis without regard to distribution expenses. The Board considered the fact that HL Advisors has subsidized the Fund’s fees and total operating expenses through a voluntary management fee waiver. The Board also requested and reviewed information about the profitability to HL Advisors and its affiliates from all services provided to the Fund and all aspects of their relationship with the Fund. The Board noted that HL Advisors represented that the profitability information was calculated using the same methodology used by HL Advisors in 2006, a methodology which had been refined in 2006 as part of an independent third party review.

The Board considered the costs and profitability information for HL Advisors and Hartford Investment Management in the aggregate.

Based on these considerations, the Board concluded that the profits anticipated to be realized by the advisers and their affiliates from their relationships with the Fund would not be excessive.

Comparison of Fees and Services Provided by HL Advisors and the Sub-Adviser

The Board considered comparative information with respect to the investment management fee and administrative fee to be paid by the Fund to HL Advisors and its affiliates, the investment sub-advisory fee to be paid to the sub-adviser, and the total expense ratio of the Fund. In this regard, the Board requested and reviewed information from HL Advisors and the sub-adviser relating to the management fee, administrative fee, sub-advisory fee, and total operating expenses for the Fund. The Board also reviewed written materials from Lipper providing comparative information about the Fund’s management fee, administrative fee and total expense ratio and the components thereof, relative to those of its peer group. While the Board recognized that comparisons between the Fund and its peer funds are imprecise, given the differing service levels and characteristics of mutual funds, and the different business models and cost structures of advisers, the comparative information provided by Lipper assisted the Board in evaluating the reasonableness of the Fund’s management and sub-advisory fees and total operating expenses.

The Board particularly considered HL Advisors’ agreement to continue the voluntary management fee waiver with respect to the Fund. HL Advisors has agreed to the following fee revision, effective January 1, 2008:

Hartford Money Market HLS Fund: continue the 5 bps voluntary management fee waiver.

Based on these considerations, the Board concluded that the Fund’s fees and total operating expenses are within a range that is competitive with fees and total operating expenses charged by peer funds, and, in conjunction with the information about quality of services, profitability, economies of scale, and other matters discussed, are reasonable.

Economies of Scale

The Board requested and considered information regarding the advisers’ realization of economies of scale with respect to the Fund, and whether the fee levels reflect these economies of scale for the benefit of the Fund’s investors. With respect to HL Advisors, the Board considered representations from HL Advisors that it is difficult to anticipate whether and to what extent economies may be realized by HL Advisors as assets grow over time. The Board reviewed the breakpoints in the advisory fee schedule for the Fund and the administrative fee schedule for the Fund, which reduce fees as Fund assets grow over time. The Board recognized that a fund with assets beyond the last breakpoint level continues to benefit from economies of scale, because additional assets are charged the lowest breakpoint fee, resulting in lower overall effective management fee rates. The Board considered that the Fund may achieve some economies as certain fixed expenses are spread over a larger asset base, noting that there is no precise way to measure such economies, and that certain expenses do not necessarily decrease as assets increase. The Board also considered that expense limitations and fee waivers that reduce Fund expenses at all asset levels can have the same effect as breakpoints in sharing economies of scale with shareholders, and that a schedule that reaches a lower breakpoint quickly provides shareholders with the benefit of anticipated or potential economies of scale.

The Board reviewed and evaluated materials from Lipper showing how management fee schedules of peer funds reflect economies of scale for the benefit of investors as a peer fund’s assets hypothetically increase over time. Based on information provided by HL Advisors, Lipper, and the Consultant, the Board recognized that there is no uniform methodology for establishing breakpoints, or uniform pattern in asset levels that trigger breakpoints or the amounts of breakpoints triggered.

After considering all of the information available to it, the Board concluded that it was satisfied with the extent to which economies of scale would be shared for the benefit of the Fund’s investors, based on currently available information and the effective advisory fees and expense ratio for the Fund at its current and reasonably anticipated asset levels. The Board noted, however, that it would continue to monitor future growth in Fund assets and the appropriateness of additional breakpoints.

­ ­  17  ­ ­

Hartford Money Market HLS Fund

Approval of Investment Management, Investment Advisory and Amended Investment Sub-Advisory Agreement (Unaudited) — (continued)

Other Benefits

The Board considered other benefits to the advisers and their affiliates from their relationships with the Fund, including the role of the Fund in supporting the variable life insurance and variable annuity products offered by The Hartford. The Board reviewed information noting that Hartford Life, an affiliate of HL Advisors, receives fees from the Fund for providing certain administrative services for the Fund, and that Hartford Life also receives fees for fund accounting and related services from the Fund, and the Board considered information on expected profits to Hartford Life or its affiliates for such services. The Board considered the fact that Hartford Life had agreed to implement a new accounting services fee structure for the Fund with breakpoints. Based upon estimated expense information, this change will result in savings to Hartford-sponsored funds of approximately $250,000 per year.

The Board also considered that Hartford Investor Services Company, LLC (“HISC”), the Fund’s transfer agent and an affiliate of HL Advisors, receives transfer agency compensation from the Fund, and the Board reviewed information on the expected profitability of the Fund’s transfer agency function to HISC. The Board considered information provided by HL Advisors indicating that the fee charged by HISC to the Fund is reasonable and in line with industry standards.

The Board also considered that Hartford Securities Distribution Company, Inc. (“HSDC”), as principal underwriter of the Fund, receives 12b-1 fees from the Fund. The Board also noted that certain affiliates of HL Advisors distribute shares of the Fund and receive compensation in that connection.

The Board considered benefits to the sub-adviser from its proposed use of the Fund’s brokerage commissions to obtain soft dollar research, and representations from HL Advisors and the sub-adviser that the sub-adviser would not be making revenue-sharing or other payments to HL Advisors or its affiliates in connection with the distribution of the Fund.

The Board considered the benefits to shareholders of being part of the Hartford family of funds. The Board considered HL Advisors’ efforts to provide investors in the family with a broad range of investment styles and asset classes, and its entrepreneurial risk in initiating new funds to expand these opportunities for shareholders.

* * * *

Based upon its review of these various factors, among others, the Board concluded that it is in the best interests of the Fund and its shareholders for the Board to approve the agreements for an additional year. In reaching this decision, the Board did not assign relative weights to the factors discussed above or deem any one or group of them to be controlling in and of themselves. In connection with their deliberations, the Independent Directors met separately in executive session on several occasions, with independent legal counsel, to review the relevant materials and consider their responsibilities under relevant laws and regulations.

­ ­  18  ­ ­

Annual Report December 31, 2007
­ ­                                                     ­ ­

• Manager Discussions

• Financials

Hartford Index HLS Fund inception 5/1/1987

(subadvised by Hartford Investment Management Company)

Performance Overview(1) 12/31/97 - 12/31/07
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 objective – Seeks to provide investment results which approximate the price and yield performance of publicly traded common stocks in the aggregate.

Average Annual Returns(2,3) (as of 12/31/07)

	1			5			10
	Year			Year			Year
Index IA		5.20	%		12.42	%		5.48	%
Index IB		4.94	%		12.14	%		5.24	%
S&P 500 Index		5.49	%		12.83	%		5.91	%

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 November 9, 1999. 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.
(3)	Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

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
Deane Gyllenhaal
Vice President

How did the Fund perform?

The Class IA shares of Hartford Index HLS Fund returned 5.20% for the twelve-month period ended December 31, 2007, underperforming its benchmark, the S&P 500 Index, which returned 5.49%, and outperforming the Lipper S&P 500 Index Objective VP-UF Funds category average, a group of funds with investment strategies similar to those of the Fund, which returned 5.12%.

Why did the Fund perform this way?

It was a particularly volatile year for the equity markets, though eight of the ten sectors in the S&P 500 Index posted positive returns for the period. The Energy and Materials sectors led the way, with gains of 34.8% and 22.3% respectively, as oil and other commodity prices rose toward all-time highs. The worst-performing sectors were Financials, which fell by 18.6%, and Consumer Discretionary, down 13.3%. Both of these sectors were directly impacted by the U.S. subprime mortgage fallout in the second half of 2007, as banks reported mounting losses and retailers struggled.

Performance highlights for individual stocks in the Index begin with the top-performing National Oilwell Varco, which supplies products and

services to the major oil companies. The stock was up over 140% for the year. Not far behind was internet retailer Amazon.com, up 134.8%. The ubiquitous Apple, Inc. had a strong showing as well, gaining 133.5%. The index laggards for the year included E*Trade Financial and Countrywide Financial, which suffered severely from their activities in the subprime mortgages markets (the former through investment holdings, the latter thr ough lending). The stocks fell 84.2% and 78.4%, respectively.

The Fund also benefited from a one-time litigation payment received in August, which was additive to relative (i.e. performance of the Fund as measured against the benchmark) returns.

1

What is your outlook?

Looking into 2008, the environment for the equity markets could be challenging. Investors are closely watching the deteriorating housing market, energy prices, consumer demand, the softening job market, and the declining value of the U.S. dollar. These macroeconomic themes could have an impact on the economy, potentially slowing growth and causing increased speculation of a recession.

Diversification by Industry
as of December 31, 2007

	Percentage of
Industry	Net Assets
Basic Materials		3.4	%
Capital Goods		4.9
Consumer Cyclical		8.0
Consumer Staples		6.4
Energy		12.1
Finance		18.8
Health Care		11.2
Services		5.7
Technology		23.7
Transportation		1.4
Utilities		3.5
Short-Term Investments		12.9
Other Assets and Liabilities		(12.0	)
Total		100.0	%

2

Hartford Index HLS Fund

Schedule of Investments
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — 99.1%
		Basic Materials — 3.4%
	28	Air Products and Chemicals, Inc. (G)	$	2,720
	109	Alcoa, Inc.		3,970
	13	Allegheny Technologies, Inc. (G)		1,128
	7	Ashland, Inc.		341
	13	Ball Corp.		578
	13	Bemis Co., Inc.		351
	23	Consol Energy, Inc.		1,662
	121	Dow Chemical Co.		4,765
	115	E.I. DuPont de Nemours & Co.		5,074
	10	Eastman Chemical Co.		635
	37	Eastman Kodak Co. (G)		806
	20	Fortune Brands, Inc.		1,419
	49	Freeport McMoRan Copper & Gold, Inc.		5,007
	31	Goodyear Tire & Rubber Co. (D)		867
	15	Hercules, Inc.		290
	10	International Flavors & Fragrances, Inc. (G)		501
	55	International Paper Co. (G)		1,777
	54	Kimberly-Clark Corp. (G)		3,755
	24	MeadWestvaco Corp.		740
	58	Newmont Mining Corp.		2,823
	37	Nucor Corp.		2,183
	10	OfficeMax, Inc. (G)		200
	17	Pactiv Corp. (D)		445
	34	Peabody Energy Corp. (G)		2,092
	21	PPG Industries, Inc. (G)		1,474
	40	Praxair, Inc.		3,583
	18	Precision Castparts Corp.		2,455
	16	Rohm & Haas Co. (G)		852
	21	Sealed Air Corp.		479
	7	Snap-On, Inc.		357
	11	Stanley Works		510
	11	Titanium Metals Corp. (G)		299
	15	United States Steel Corp.		1,834
	14	Vulcan Materials Co. (G)		1,095
				57,067
		Capital Goods — 4.9%
	91	3M Co.		7,699
	41	Baker Hughes, Inc. (G)		3,300
	8	Black & Decker Corp. (G)		561
	99	Boeing Co.		8,677
	81	Caterpillar, Inc. (G)		5,911
	13	Cummins, Inc.		1,669
	57	Deere & Co.		5,292
	19	Eaton Corp.		1,820
	16	Goodrich Corp.		1,127
	19	Hasbro, Inc. (G)		483
	96	Honeywell International, Inc.		5,884
	53	Illinois Tool Works, Inc.		2,836
	35	Ingersoll-Rand Co. Class A		1,621
	40	International Game Technology		1,772
	23	ITT Corp.		1,535
	17	Manitowoc Co., Inc.		811
	46	National Oilwell Varco, Inc. (D)(G)		3,355
	43	Northrop Grumman Corp.		3,404
	15	Novellus Systems, Inc. (D)		409
	16	Pall Corp.		632
	22	Parker-Hannifin Corp.		1,622
	28	Pitney Bowes, Inc.		1,058
	19	Rockwell Automation, Inc.		1,316
	26	Smith International, Inc. (G)		1,892
	22	Teradyne, Inc. (D)		232
	13	Terex Corp. (D)		864
	32	Textron, Inc.		2,274
	22	Trane, Inc.		1,025
	127	United Technologies Corp.		9,686
	118	Xerox Corp.		1,915
				80,682
		Consumer Cyclical — 8.0%
	11	Abercrombie & Fitch Co. Class A		880
	270	Altria Group, Inc.		20,378
	39	Amazon.com, Inc. (D)		3,643
	18	AutoNation, Inc. (D)		278
	6	AutoZone, Inc. (D)		679
	14	Avery Dennison Corp. (G)		725
	34	Bed Bath & Beyond, Inc. (D)(G)		996
	45	Best Buy Co., Inc. (G)		2,364
	12	Big Lots, Inc. (D)(G)		185
	11	Brown-Forman Corp.		823
	11	Brunswick Corp.		194
	16	Centex Corp.		394
	22	Circuit City Stores, Inc. (G)		92
	47	Coach, Inc. (D)		1,441
	56	Costco Wholesale Corp.		3,875
	35	D.R. Horton, Inc.		467
	18	Darden Restaurants, Inc.		506
	7	Dillard’s, Inc. (G)		138
	146	eBay, Inc. (D)		4,831
	18	Family Dollar Stores, Inc. (G)		345
	270	Ford Motor Co. (D)(G)		1,818
	20	GameStop Corp. Class A (D)		1,267
	60	Gap, Inc.		1,270
	72	General Motors Corp. (G)		1,803
	22	Genuine Parts Co.		996
	216	Home Depot, Inc.		5,820
	28	J. C. Penney Co., Inc.		1,247
	76	Johnson Controls, Inc.		2,741
	11	Jones Apparel Group, Inc. (G)		176
	10	KB Home (G)		215
	40	Kohl’s Corp. (D)		1,840
	87	Kroger Co.		2,330
	22	Leggett & Platt, Inc. (G)		379
	18	Lennar Corp. (G)		322
	40	Limited Brands, Inc. (G)		753
	13	Liz Claiborne, Inc. (G)		258
	58	Loews Corp.		2,941
	187	Lowe’s Cos., Inc. (G)		4,235
	55	Macy’s, Inc.		1,434
	47	Masco Corp. (G)		1,020
	47	Mattel, Inc.		895
	151	McDonald’s Corp.		8,921
	36	Newell Rubbermaid, Inc.		925
	49	NIKE, Inc. Class B		3,161
	24	Nordstrom, Inc. (G)		884

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

­ ­  3  ­ ­

Hartford Index HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Consumer Cyclical — (continued)
	35	Office Depot, Inc. (D)	$	485
	47	PACCAR, Inc.		2,569
	18	Patterson Cos., Inc. (D)		612
	8	Polo Ralph Lauren Corp.		463
	27	Pulte Homes, Inc. (G)		289
	17	RadioShack Corp. (G)		284
	57	Safeway, Inc.		1,938
	9	Sears Holdings Corp. (D)(G)		951
	13	Sherwin-Williams Co. (G)		774
	90	Staples, Inc.		2,087
	94	Starbucks Corp. (D)		1,914
	27	Supervalu, Inc.		1,014
	78	Sysco Corp.		2,434
	106	Target Corp.		5,318
	18	Tiffany & Co.		806
	56	TJX Cos., Inc.		1,606
	11	V.F. Corp.		771
	9	W.W. Grainger, Inc.		752
	303	Wal-Mart Stores, Inc. (G)		14,379
	11	Wendy’s International, Inc.		292
	18	Whole Foods Market, Inc. (G)		726
	65	Yum! Brands, Inc.		2,493
				133,842
		Consumer Staples — 6.4%
	94	Anheuser-Busch Cos., Inc.		4,915
	82	Archer Daniels Midland Co.		3,822
	55	Avon Products, Inc.		2,171
	29	Campbell Soup Co. (G)		1,019
	18	Clorox Co.		1,158
	254	Coca-Cola Co.		15,618
	37	Coca-Cola Enterprises, Inc.		953
	65	Colgate-Palmolive Co.		5,090
	63	ConAgra Foods, Inc.		1,489
	25	Constellation Brands, Inc. Class A (D)		587
	17	Dean Foods Co.		434
	15	Estee Lauder Cos., Inc.		641
	43	General Mills, Inc.		2,465
	41	H.J. Heinz Co.		1,892
	22	Hershey Co. (G)		852
	34	Kellogg Co. (G)		1,773
	198	Kraft Foods, Inc. (G)		6,464
	16	McCormick & Co., Inc. (G)		621
	18	Molson Coors Brewing Co. (G)		904
	18	Pepsi Bottling Group, Inc.		705
	206	PepsiCo, Inc.		15,643
	398	Procter & Gamble Co.		29,189
	22	Reynolds American, Inc. (G)		1,442
	93	Sara Lee Corp.		1,489
	35	Tyson Foods, Inc. Class A		542
	20	UST, Inc. (G)		1,100
	27	Weyerhaeuser Co.		1,978
	28	William Wrigley, Jr. Co.		1,632
				106,588
		Energy — 12.1%
	60	Anadarko Petroleum Corp. (G)		3,920
	42	Apache Corp.		4,562
	37	BJ Services Co.		909
	58	Chesapeake Energy Corp. (G)		2,280
	270	Chevron Corp.		25,229
	205	ConocoPhillips Holding Co.		18,086
	23	Constellation Energy Group, Inc.		2,376
	57	Devon Energy Corp.		5,063
	19	ENSCO International, Inc. (G)		1,107
	31	EOG Resources, Inc.		2,808
	699	Exxon Mobil Corp.		65,532
	113	Halliburton Co.		4,277
	36	Hess Corp. (G)		3,592
	91	Marathon Oil Corp.		5,532
	24	Murphy Oil Corp. (G)		2,043
	36	Nabors Industries Ltd. (D)(G)		993
	6	Nicor, Inc. (G)		246
	34	Noble Corp.		1,937
	22	Noble Energy, Inc.		1,749
	106	Occidental Petroleum Corp.		8,171
	19	Range Resources Corp. (G)		986
	14	Rowan Companies, Inc. (G)		562
	153	Schlumberger Ltd.		15,056
	34	Sempra Energy		2,073
	15	Sunoco, Inc.		1,088
	18	Tesoro Corp. (G)		835
	41	Transocean, Inc. (G)		5,823
	70	Valero Energy Corp. (G)		4,935
	43	Weatherford International Ltd. (D)		2,962
	76	Williams Cos., Inc.		2,719
	62	XTO Energy, Inc. (G)		3,178
				200,629
		Finance — 18.8%
	44	ACE Ltd.		2,709
	64	Aetna, Inc.		3,699
	68	Aflac, Inc.		4,268
	76	Allstate Corp.		3,968
	13	AMBAC Financial Group, Inc. (G)		348
	25	American Capital Strategies Ltd. (G)		808
	150	American Express Co.		7,788
	337	American International Group, Inc.		19,669
	30	Ameriprise Financial, Inc.		1,633
	38	AON Corp.		1,794
	12	Apartment Investment & Management Co. (G)		425
	13	Assurant, Inc. (G)		850
	10	Avalonbay Communities, Inc.		949
	568	Bank of America Corp.		23,446
	146	Bank of New York Mellon Corp.		7,108
	70	BB&T Corp. (G)		2,158
	15	Bear Stearns & Co., Inc. (G)		1,306
	15	Boston Properties, Inc.		1,399
	50	Capital One Financial Corp.		2,365
	25	CB Richard Ellis Group, Inc. Class A (D)(G)		546
	120	Charles Schwab Corp.		3,065
	51	Chubb Corp.		2,784
	36	CIGNA Corp.		1,920
	22	Cincinnati Financial Corp. (G)		874

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

­ ­  4  ­ ­

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Finance — (continued)
	24	CIT Group, Inc.	$	585
	639	Citigroup, Inc.		18,815
	7	CME Group, Inc.		4,802
	19	Comerica, Inc.		844
	25	Commerce Bancorp, Inc. (G)		951
	74	Countrywide Financial Corp. (G)		662
	16	Developers Diversified Realty Corp.		601
	61	Discover Financial Services		922
	55	E*Trade Financial Corp. (D)(G)		195
	35	Equity Residential Properties Trust		1,267
	85	Federal Home Loan Mortgage Corp.		2,885
	125	Federal National Mortgage Association		5,005
	11	Federated Investors, Inc.		459
	68	Fifth Third Bankcorp (G)		1,713
	16	First Horizon National Corp. (G)		295
	21	Franklin Resources, Inc. (G)		2,368
	31	General Growth Properties, Inc.		1,285
	58	Genworth Financial, Inc. (G)		1,485
	51	Goldman Sachs Group, Inc. (G)		10,938
	67	Host Hotels & Resorts, Inc.		1,140
	67	Hudson City Bancorp, Inc.		1,001
	22	Humana, Inc. (D)		1,636
	47	Huntington Bancshares, Inc.		694
	9	IntercontinentalExchange, Inc. (D)		1,713
	20	Janus Capital Group, Inc. (G)		645
	430	JP Morgan Chase & Co.		18,772
	50	Keycorp		1,169
	32	Kimco Realty Corp. (G)		1,179
	17	Legg Mason, Inc. (G)		1,254
	68	Lehman Brothers Holdings, Inc.		4,438
	22	Leucadia National Corp.		1,017
	38	Lincoln National Corp.		2,189
	10	M&T Bank Corp. (G)		780
	67	Marsh & McLennan Cos., Inc.		1,763
	33	Marshall & Ilsley Corp.		871
	17	MBIA, Inc. (G)		316
	110	Merrill Lynch & Co., Inc.		5,884
	103	Metlife, Inc.		6,372
	11	MGIC Investment Corp. (G)		238
	136	Morgan Stanley (G)		7,218
	81	National City Corp.		1,335
	25	Northern Trust Corp. (G)		1,879
	34	NYSE Euronext (G)		2,975
	22	Plum Creek Timber Co., Inc. (G)		1,016
	45	PNC Financial Services Group, Inc.		2,935
	36	Principal Financial Group, Inc.		2,512
	93	Progressive Corp. (G)		1,779
	33	ProLogis (G)		2,093
	63	Prudential Financial, Inc.		5,900
	16	Public Storage, Inc.		1,170
	89	Regions Financial Corp.		2,104
	7	Ryder System, Inc.		348
	13	SAFECO Corp. (G)		700
	29	Simon Property Group, Inc.		2,477
	66	SLM Corp.		1,328
	46	Sovereign Bancorp, Inc. (G)		526
	49	State Street Corp.		4,011
	45	SunTrust Banks, Inc.		2,795
	42	Synovus Financial Corp. (G)		1,014
	34	T. Rowe Price Group, Inc.		2,058
	13	Torchmark Corp.		779
	86	Travelers Cos., Inc.		4,615
	165	UnitedHealth Group, Inc.		9,628
	50	Unum Group (G)		1,198
	221	US Bancorp (G)		7,017
	17	Vornado Realty Trust		1,510
	253	Wachovia Corp.		9,616
	111	Washington Mutual, Inc. (G)		1,513
	73	Wellpoint, Inc. (D)		6,417
	432	Wells Fargo & Co.		13,042
	96	Western Union Co.		2,335
	24	XL Capital Ltd. Class A		1,191
	14	Zions Bancorporation (G)		646
				312,707
		Health Care — 11.2%
	198	Abbott Laboratories		11,108
	39	Allergan, Inc.		2,525
	21	Amerisource Bergen Corp.		964
	139	Amgen, Inc. (D)		6,469
	13	Bard (C.R.), Inc.		1,239
	14	Barr Pharmaceuticals, Inc. (D)		730
	81	Baxter International, Inc.		4,709
	31	Becton, Dickinson & Co.		2,608
	38	Biogen Idec, Inc. (D)		2,135
	172	Boston Scientific Corp. (D)		1,998
	253	Bristol-Myers Squibb Co.		6,719
	46	Cardinal Health, Inc.		2,675
	49	Celgene Corp. (D)		2,283
	20	Coventry Health Care, Inc. (D)		1,176
	64	Covidien Ltd.		2,822
	189	CVS/Caremark Corp. (G)		7,515
	126	Eli Lilly & Co.		6,745
	40	Forest Laboratories, Inc. (D)		1,455
	34	Genzyme Corp. (D)		2,531
	119	Gilead Sciences, Inc. (D)		5,483
	20	Hospira, Inc. (D)		859
	366	Johnson & Johnson		24,435
	32	King Pharmaceuticals, Inc. (D)		323
	15	Laboratory Corp. of America Holdings (D)		1,110
	37	McKesson Corp.		2,429
	34	Medco Health Solutions, Inc. (D)		3,470
	145	Medtronic, Inc.		7,275
	279	Merck & Co., Inc.		16,192
	70	Monsanto Co.		7,818
	39	Mylan, Inc. (G)		544
	874	Pfizer, Inc.		19,874
	20	Quest Diagnostics, Inc. (G)		1,060
	207	Schering-Plough Corp.		5,523
	17	Sigma-Aldrich Corp.		907
	44	St. Jude Medical, Inc. (D)		1,781
	30	Stryker Corp.		2,276
	61	Tenet Healthcare Corp. (D)(G)		311
	16	Varian Medical Systems, Inc. (D)		833
	127	Walgreen Co.		4,837

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

­ ­  5  ­ ­

Hartford Index HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Health Care — (continued)
	13	Watson Pharmaceuticals, Inc. (D)	$	361
	171	Wyeth		7,574
	30	Zimmer Holdings, Inc. (D)		1,990
				185,671
		Services — 5.7%
	37	Allied Waste Industries, Inc. (D)		408
	17	Apollo Group, Inc. Class A (D)(G)		1,225
	30	Autodesk, Inc. (D)		1,472
	67	Automatic Data Processing, Inc.		2,998
	22	C.H. Robinson Worldwide, Inc.		1,177
	88	CBS Corp. Class B		2,390
	17	Cintas Corp.		582
	64	Clear Channel Communications, Inc.		2,202
	37	Cognizant Technology Solutions Corp. (D)(G)		1,261
	393	Comcast Corp. Class A (D)(G)		7,184
	22	Computer Sciences Corp. (D)		1,103
	17	Convergys Corp. (D)		275
	92	DirecTV Group, Inc. (D)		2,125
	11	E.W. Scripps Co. (G)		515
	22	Ecolab, Inc.		1,144
	66	Electronic Data Systems Corp.		1,360
	17	Equifax, Inc. (D)		613
	27	Expedia, Inc. (D)(G)		841
	32	Express Scripts, Inc. (D)		2,353
	40	FedEx Corp. (G)		3,530
	11	Fluor Corp.		1,650
	30	Gannett Co., Inc. (G)		1,161
	42	H & R Block, Inc.		773
	24	Harrah’s Entertainment, Inc. (G)		2,132
	60	Interpublic Group of Cos., Inc. (D)(G)		489
	16	Jacobs Engineering Group, Inc. (D)		1,482
	40	Marriott International, Inc. Class A (G)		1,370
	42	McGraw-Hill Cos., Inc. (G)		1,846
	5	Meredith Corp.		267
	16	Monster Worldwide, Inc. (D)		530
	27	Moody’s Corp.		980
	19	New York Times Co. Class A		325
	296	News Corp. Class A		6,069
	45	Novell, Inc. (D)		310
	42	Omnicom Group, Inc. (G)		1,995
	43	Paychex, Inc.		1,547
	27	R.R. Donnelley & Sons Co.		1,037
	21	Robert Half International, Inc. (G)		558
	25	Starwood Hotels & Resorts		1,123
	106	Sun Microsystems, Inc. (D)		1,923
	463	Time Warner, Inc.		7,640
	45	Unisys Corp. (D)(G)		214
	135	United Parcel Service, Inc. Class B		9,515
	84	Viacom, Inc. Class B (D)		3,692
	244	Walt Disney Co.		7,868
	1	Washington Post Co. Class B		554
	65	Waste Management, Inc.		2,127
	23	Wyndham Worldwide Corp. (G)		538
				94,473
		Technology — 23.7%
	73	Adobe Systems, Inc. (D)		3,139
	77	Advanced Micro Devices, Inc. (D)(G)		579
	13	Affiliated Computer Services, Inc. Class A (D)		582
	49	Agilent Technologies, Inc. (D)		1,817
	21	Akamai Technologies, Inc. (D)(G)		737
	43	Altera Corp. (G)		831
	52	American Tower Corp. Class A (D)(G)		2,207
	39	Analog Devices, Inc.		1,230
	112	Apple, Inc. (D)		22,198
	22	Applera Corp. — Applied Biosystems Group		730
	176	Applied Materials, Inc.		3,134
	776	AT&T, Inc.		32,268
	25	BMC Software, Inc. (D)		892
	60	Broadcom Corp. Class A (D)		1,575
	50	CA, Inc. (G)		1,251
	14	CenturyTel, Inc.		586
	11	Ciena Corp. (D)(G)		376
	777	Cisco Systems, Inc. (D)		21,027
	42	Citizens Communications Co.		534
	24	Citrix Systems, Inc. (D)(G)		922
	37	Compuware Corp. (D)		328
	23	Cooper Industries Ltd.		1,221
	202	Corning, Inc.		4,841
	32	Danaher Corp. (G)		2,846
	287	Dell, Inc. (D)		7,032
	25	Dover Corp.		1,170
	40	Electronic Arts, Inc. (D)		2,358
	20	Embarq Corp.		968
	269	EMC Corp. (D)(G)		4,977
	101	Emerson Electric Co.		5,709
	22	Fidelity National Information Services, Inc.		907
	21	Fiserv, Inc. (D)(G)		1,171
	1,294	General Electric Co.		47,964
	30	Google, Inc. (D)		20,491
	8	Harman International Industries, Inc. (G)		572
	330	Hewlett-Packard Co.		16,660
	24	IAC/Interactive Corp. (D)		635
	25	IMS Health, Inc.		573
	749	Intel Corp.		19,956
	176	International Business Machines Corp. (G)		19,067
	43	Intuit, Inc. (D)		1,348
	27	Jabil Circuit, Inc. (G)		407
	28	JDS Uniphase Corp. (D)(G)		373
	67	Juniper Networks, Inc. (D)		2,217
	23	KLA-Tencor Corp. (G)		1,121
	16	L-3 Communications Holdings, Inc.		1,704
	12	Lexmark International, Inc. ADR (D)		423
	29	Linear Technology Corp. (G)		911
	44	Lockheed Martin Corp.		4,673
	90	LSI Corp. (D)		480
	29	MEMC Electronic Materials, Inc. (D)		2,593
	27	Microchip Technology, Inc.		861
	97	Micron Technology, Inc. (D)(G)		706
	1,030	Microsoft Corp.		36,669
	7	Millipore Corp. (D)		509
	18	Molex, Inc.		495
	292	Motorola, Inc.		4,691
	30	National Semiconductor Corp. (G)		680

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

­ ­  6  ­ ­

					Market
Shares					Value (W)
COMMON STOCK — (continued)
		Technology — (continued)
	44	Network Appliance, Inc. (D)(G)			$	1,101
	71	NVIDIA Corp. (D)(G)				2,421
	505	Oracle Corp. (D)				11,400
	15	PerkinElmer, Inc.				394
	18	QLogic Corp. (D)				251
	209	Qualcomm, Inc.				8,243
	201	Qwest Communications International, Inc. (D)(G)				1,409
	55	Raytheon Co.				3,334
	21	Rockwell Collins, Inc.				1,502
	29	SanDisk Corp. (D)(G)				970
	364	Sprint Nextel Corp.				4,781
	111	Symantec Corp. (D)				1,792
	56	Tellabs, Inc. (D)(G)				366
	23	Teradata Corp. (D)				636
	179	Texas Instruments, Inc. (G)				5,979
	54	Thermo Fisher Scientific, Inc. (D)(G)				3,118
	5	Total System Services, Inc.				141
	64	Tyco Electronics Ltd.				2,362
	63	Tyco International Ltd.				2,511
	28	VeriSign, Inc. (D)(G)				1,068
	370	Verizon Communications, Inc.				16,165
	13	Waters Corp. (D)				1,016
	10	Whirlpool Corp. (G)				812
	61	Windstream Corp.				795
	38	Xilinx, Inc. (G)				828
	171	Yahoo!, Inc. (D)(G)				3,979
						394,296
		Transportation — 1.4%
	38	Burlington Northern Santa Fe Corp.				3,174
	56	Carnival Corp.				2,486
	54	CSX Corp.				2,366
	27	Expeditors International of Washington, Inc.				1,220
	51	General Dynamics Corp.				4,580
	31	Harley-Davidson, Inc. (G)				1,442
	50	Norfolk Southern Corp.				2,500
	94	Southwest Airlines Co. (G)				1,146
	34	Union Pacific Corp.				4,230
						23,144
		Utilities — 3.5%
	86	AES Corp. (D)				1,833
	21	Allegheny Energy, Inc.				1,354
	27	Ameren Corp. (G)				1,442
	51	American Electric Power Co., Inc.				2,383
	41	CenterPoint Energy, Inc. (G)				705
	29	CMS Energy Corp. (G)				500
	35	Consolidated Edison, Inc. (G)				1,697
	75	Dominion Resources, Inc.				3,555
	21	DTE Energy Co. (G)				923
	161	Duke Energy Corp.				3,256
	63	Dynegy Holdings, Inc. (D)				452
	42	Edison International				2,226
	90	El Paso Corp. (G)				1,545
	25	Entergy Corp.				2,973
	84	Exelon Corp.				6,895
	39	FirstEnergy Corp.				2,820
	52	FPL Group, Inc.				3,532
	10	Integrys Energy Group, Inc. (G)				507
	35	NiSource, Inc.				664
	26	Pepco Holdings, Inc.				751
	45	PG&E Corp.				1,955
	13	Pinnacle West Capital Corp. (G)				544
	48	PPL Corp.				2,480
	33	Progress Energy, Inc. (G)				1,607
	33	Public Service Enterprise Group, Inc.				3,202
	22	Questar Corp.				1,197
	97	Southern Co.				3,767
	81	Spectra Energy Corp.				2,090
	27	TECO Energy, Inc. (G)				466
	54	Xcel Energy, Inc. (G)				1,214
						58,535
		Total common stock (cost $1,311,361)			$	1,647,634
Principal
Amount
SHORT-TERM INVESTMENTS — 12.9%
		Repurchase Agreements — 0.9%
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2008 in the amount of $7,543, collateralized by U.S. Treasury Note 3.63%, 2012, value of $7,724)
$	7,542	1.30% dated 12/31/2007			$	7,542
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2008 in the amount of $7,356, collateralized by U.S. Treasury Note 3.38% — 12.50%, 2009 — 2014, value of $7,515)
	7,356	1.25% dated 12/31/2007				7,356
						14,898
Shares
		Securities Purchased with Proceeds from Security Lending — 11.9%
		Cash Collateral Reinvestment Fund:
	198,890	Mellon GSL DBT II Collateral Fund (H)				198,890
Principal
Amount
		U.S. Treasury Bills — 0.1%
$	1,200	2.97%, 03/13/2008 (M)(S)				1,192
		Total short-term investments (cost $214,981)			$	214,980
		Total investments (cost $1,526,342) (C)	112.0	%	$	1,862,614
		Other assets and liabilities	(12.0	)%		(199,820	)
		Total net assets	100.0	%	$	1,662,794

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

­ ­  7  ­ ­

Hartford Index HLS Fund

Schedule of Investments — (continued)
December 31, 2007
(000’s Omitted)

Note:  Percentage of investments as shown is the ratio of the total market value to total net assets.

(C) At December 31, 2007, the cost of securities for federal income tax purposes was $1,547,579 and the aggregate gross unrealized appreciation and depreciation based on that cost were:

Unrealized Appreciation	$	468,059
Unrealized Depreciation		(153,024	)
Net Unrealized Appreciation	$	315,035

(D)	Currently non-income producing.
(G)	Security is partially on loan at December 31, 2007.
(M)	The interest rate disclosed for these securities represents the effective yield on the date of acquisition.
(H)	The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are 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
12/2006 – 12/2007		198,890	Mellon GSL DBT II Collateral Fund	$	198,890

	The aggregate value of these securities at December 31, 2007 was $198,890 which represents 11.96% of total net assets.
(S)	Security pledged as initial margin deposit for open futures contracts at December 31, 2007.
	Futures Contracts Outstanding at December 31, 2007

							Unrealized
	Number of				Expiration		Appreciation/
Description	Contracts*		Position		Month		(Depreciation)
S&P 500 Index		48		Long		Mar 2008	$	26

	* The number of contracts does not omit 000’s.
(W)	See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

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

­ ­  8  ­ ­

Hartford Index HLS Fund

Statement of Assets and Liabilities
December 31, 2007
(000’s Omitted)

	Hartford
	Index
	HLS Fund
Assets:
Investments in securities, at value; (amortized cost for Money Market) @	$	1,862,614
Cash		3
Receivables:
Investment securities sold		415
Fund shares sold		697
Dividends and interest		2,418
Variation margin		6
Other assets		3
Total assets		1,866,156
Liabilities:
Payable upon return of securities loaned (Note 2d)		198,890
Payables:
Investment securities purchased		962
Fund shares redeemed		3,144
Variation margin		110
Investment management and advisory fees (Note 3)		28
Administrative fee		55
Distribution fees (Note 3)		11
Accrued expenses		162
Total liabilities		203,362
Net assets	$	1,662,794
Summary of Net Assets:
Capital stock and paid-in-capital	$	1,327,164
Accumulated undistributed net investment income		1,095
Accumulated net realized loss on investments and foreign currency transactions		(1,763	)
Unrealized appreciation of investments and the translations of assets and liabilities denominated in foreign currency		336,298
Net assets	$	1,662,794
Shares authorized		4,000,000
Par value	$	0.001
Class IA: Net asset value per share	$	31.54
Shares outstanding		44,097
Net assets	$	1,390,827
Class IB: Net asset value per share	$	31.40
Shares outstanding		8,662
Net assets	$	271,967
@ Cost of securities	$	1,526,342
@ Market value of securities on loan	$	191,392

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

­ ­  9  ­ ­

Hartford Index HLS Fund

Statement of Operations
For the Year Ended December 31, 2007
(000’s Omitted)

	Hartford
	Index
	HLS Fund
Investment Income:
Dividends	$	34,317
Interest		631
Securities lending		204
Less: Foreign tax withheld		(12	)
Total investment income, net		35,140
Expenses:
Investment management and advisory fees		1,811
Administrative services fees		3,623
Distribution fees — Class IB		715
Custodian fees		13
Accounting services		272
Board of Directors’ fees		37
Other expenses		300
Total expenses (before waivers and fees paid indirectly)		6,771
Custodian fee offset		(9	)
Total waivers and fees paid indirectly		(9	)
Total expenses, net		6,762
Net investment income		28,378
Net Realized Gain on Investments and Futures Contracts:
Net realized gain on investments		107,102
Net realized loss on futures contracts		(948	)
Net Realized Gain on Investments and Futures Contracts:		106,154
Net Changes in Unrealized Depreciation of Investments and Futures Contracts:
Net unrealized depreciation of investments		(39,128	)
Net unrealized appreciation of futures contracts		92
Net Changes in Unrealized Depreciation of Investments and Futures Contracts		(39,036	)
Net Gain on Investments and Futures Contracts:		67,118
Payment from Affiliate (See Note 3h in accompanying Notes to Financial Statements)		—
Net Increase in Net Assets Resulting from Operations	$	95,496

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

­ ­  10  ­ ­

Hartford Index HLS Fund

Statement of Changes in Net Assets
(000’s Omitted)

	Hartford
	Index HLS Fund
	For the			For the
	Year Ended			Year Ended
	December 31, 2007			December 31, 2006
Operations:
Net investment income	$	28,378		$	29,573
Net realized gain on investments and futures contracts		106,154			88,857
Net unrealized appreciation (depreciation) of investments and futures contracts		(39,036	)		149,369
Payment from affiliate		—			90
Net increase in net assets resulting from operations		95,496			267,889
Distributions to Shareholders:
From net investment income
Class IA		(23,589	)		(26,105	)
Class IB		(3,932	)		(3,766	)
From net realized gain on investments
Class IA		(79,243	)		(174,313	)
Class IB		(15,598	)		(29,239	)
Total distributions		(122,362	)		(233,423	)
Capital Share Transactions:
Class IA
Sold		117,054			109,735
Issued on reinvestment of distributions		102,832			200,417
Redeemed		(406,211	)		(443,564	)
Total capital share transactions		(186,325	)		(133,412	)
Class IB
Sold		78,279			52,154
Issued on reinvestment of distributions		19,530			33,006
Redeemed		(96,850	)		(76,191	)
Total capital share transactions		959			8,969
Net decrease from capital share transactions		(185,366	)		(124,443	)
Net decrease in net assets		(212,232	)		(89,977	)
Net Assets:
Beginning of period		1,875,026			1,965,003
End of period		1,662,794			1,875,026
Accumulated undistributed net investment income	$	1,095		$	647
Shares:
Class IA
Sold		3,474			3,386
Issued on reinvestment of distributions		3,288			6,466
Redeemed		(12,047	)		(13,684	)
Total share activity		(5,285	)		(3,832	)
Class IB
Sold		2,330			1,605
Issued on reinvestment of distributions		627			1,069
Redeemed		(2,887	)		(2,360	)
Total share activity		70			314

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

­ ­  11  ­ ­

Hartford Index HLS Fund

Notes to Financial Statements

December 31, 2007

($000’s Omitted)

1.  Organization:

Hartford Index HLS Fund (the “Fund”) serves an underlying investment option for certain variable annuity and variable life insurance separate accounts of Hartford Life Insurance Company and its affiliates (“HLIC”) and certain qualified retirement plans. The Fund may also serve as an underlying investment option for certain variable annuity and variable life insurance separate accounts of other insurance companies. Owners of variable annuity contracts and policyholders of variable life insurance contracts may choose the funds permitted in the accompanying variable insurance contract prospectus. In addition, participants in certain qualified retirement plans may choose the funds permitted by their plans.

Hartford Series Fund, Inc. (the “Company”) is an open-end management investment company comprised of twenty-six portfolios (each a “Fund” or together the “Funds”) (the Fund is the only one included in these financials). The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940 as amended, (“1940 Act”), as a diversified open-end management investment company.

The Fund is divided into Class IA and IB shares. Each class is offered at Net Asset Value (“NAV”) without a sales charge and is subject to the same expenses except that the Class IB shares are subject to distribution fees charged pursuant to Distribution and Service Plans. These Distribution and Service Plans have been adopted in accordance with Rule 12b-1 of the 1940 Act.

Indemnifications — Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland Corporate Law and federal securities law. In addition, the Company on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

2.  Significant Accounting Policies:

The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) in the investment company industry:

a)

Security Transactions — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and loses are determined on the basis of identified cost.

b)

Security Valuation and Investment Income — The Fund generally uses market prices in valuing portfolio securities. If market quotations are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of that Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the exchange on which a portfolio security is principally traded but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which the Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of securities principally traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors which employs quantitative models to adjust for “stale” prices caused by the movement of other markets and other factors occurring after the close of the foreign markets but before the close of the Exchange. Securities that are principally traded on foreign markets may trade on days that are not business days of the Fund. Because the NAV of each Fund’s shares is determined only on business days of the Funds, the value of the portfolio securities of a Fund that invests in foreign securities may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the net asset value of their respective shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is principally traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which that Fund determines its NAV per share.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter (“OTC”) market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent bid quotation on such exchange or market at the Valuation Time.

Short term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates market value.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts shall be valued at the final settlement price reported by an exchange on which they are principally traded. If there were no trades as of the valuation day, then the contract shall be valued at the closing bid price as of the Valuation Time.

­ ­  12  ­ ­

Hartford Index HLS Fund

Notes to Financial Statements — (continued)

December 31, 2007

($000’s Omitted)

Financial instruments for which prices are not available from an independent pricing service, but where an active market exists, are valued using market quotations obtained from one or more dealers that make markets in securities or from a widely-used quotation system in accordance with procedures established by the Fund’s Board of Directors.

A forward currency contract shall be valued based on the price of underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time. In the event that the applicable pricing service cannot provide the spot currency rates and forward currency rates in a timely fashion, such rates may be obtained from a widely-used quotation system in accordance with procedures established by the Fund’s Board of Directors.

Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis. Income and capital gain distributions from Underlying Funds are recorded on the ex-dividend date.

c)  Foreign Currency Transactions — The accounting records of the Fund is maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.

The Fund does not isolate that portion of the portfolio security valuation resulting from fluctuations in foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.

Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains of losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in exchange rates.

d)  Securities Lending — The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash, and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following day.

While securities are on loan, the Fund is subject to: the risk that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, the risk that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, the risk that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, the risk that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, the risk that return of loaned securities could be delayed and could interfere with portfolio management decisions and risk that any efforts to recall the securities for purposes of voting may no be effective.

e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.
f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest receivable. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of December 31, 2007.
g)	Futures and Options Transactions — The Fund may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Fund enters into futures contracts, the Fund is required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called maintenance margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Fund.

At any time prior to the expiration of the futures contract, the Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of maintenance margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involve elements of market risk, which may exceed the amounts recognized in the Statement of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Fund’s strategies and potentially result in loss. The Fund had no outstanding futures contracts as of December 31, 2007.

­ ­  13  ­ ­

The premium paid by the Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period

The Funds may write covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will establish or maintain with its custodian for the term of the option a “segregated account” consisting of cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities of currencies. A Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. The Fund had no transactions involving written option contracts during the year period ended December 31, 2007.

h)

Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease their exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had no investments in indexed securities, as of December 31, 2007.

i)

Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders or otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains prior to the next fiscal year end. Accordingly, no provision for federal income taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

The tax character of distributions paid by the Fund (as adjusted for dividends payable) from ordinary income were $29,201 and $30,059 and the distributions from long-term capital gains were $93,161 and $203,364, for the years ended December 31, 2007 and 2006, respectively.

Total distributable earnings on tax basis of $335,630, is comprised of unrealized appreciation of $315,035, undistributed net ordinary income of $1,868 and undistributed long-term capital gains of $18,127.

The differences between book-basis and tax-basis unrealized appreciation (deprecation) are attributable primarily to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, the mark-to-market Passive Foreign Investment Companies and basis differences in real estate investment trusts.

In accordance with American Institute of Certified Public Accountants Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded a reclassification of its capital account. This reclassification had no impact on the net asset value per share of the Fund and is designed generally to present accumulated undistributed (distribution in excess of) net investment income and realized gains (losses) investments on a tax basis, which is considered to be more informative to the shareholder. Reclassifications are a result of permanent differences between GAAP and tax accounting for such items as foreign currency, distributions representing a return of capital, investments in mortgage-backed securities, class action settlements received, expiration of capital loss carryforwards and net operating losses that reduce short-term capital gain distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statements of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. For the year ended December 31, 2007, the Fund recorded a reclassification of $(409) to accumulated net investment income (loss), a reclassification of $394 to accumulated net realized gain (loss) on investments and reclassification of $15 to Paid-in-Capital.

The Fund had no capital loss carryforwards for U.S. Federal Tax purposes as of December 31, 2007.

j)

Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the Financial Accounting Standards Board (FASB) released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended December 31, 2005 — 2007) and has determined there is no impact to the Fund’s financial statements.

k)

Fund Share Valuation and Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the contract holders or plan participants. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV per share is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by number of shares of the class outstanding. Orders for the purchase of the Fund’s shares received by an insurance company or plan prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the per-share NAV determined as of the close of the Exchange. Orders received after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined per-share NAV.

Dividends are declared pursuant to a policy by the Fund’s Board of Directors based upon the investment performance of the Fund. The policy of the Fund is to pay dividends from net investment income and distribute realized capital gains, if any, at least once a year.

Distributions from net investment income, net realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U. S. GAAP with respect to character and timing. These differences include the treatment of non-taxable dividends, expiring

­ ­  14  ­ ­

Hartford Index HLS Fund

Notes to Financial Statements — (continued)

December 31, 2007

($000’s Omitted)

capital loss carryforwards, foreign currency gains and losses, deferred due to wash sales and excise tax regulations. Permanent book and tax basis differences relating to shareholder distributions result in reclassifications to capital accounts (see Note 2 (i)).

l)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s net asset value per share. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investments in them may have an adverse impact on net asset value. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors.
m)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in their records with value at least equal to the amount of the commitment. As of December 31, 2007, the Fund had no outstanding when-issued or forward commitments.
n)	Use of Estimates — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.
o)	Financial Accounting Standards Board Financial Accounting Standard No. 157 — In September 2006, FASB issued Statement on Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. FAS 157 is effective for the Fund’s financial statements issued for fiscal years beginning after November 15, 2007, and interim periods within those fiscal years. As of December 31, 2007, the Fund does not believe the adoption of FAS 157 will impact the amounts reported in the financial statements, however, additional disclosures will be required about the inputs used to develop the measurements of fair value and the effect of certain measurements reported in the Statement of Operations for a fiscal period.

3.  Expenses:

a)  Investment Management and Advisory Agreements — HL Investment Advisors, LLC (“HL Advisors”) an indirect wholly-owned subsidiary of The Hartford, serves as investment manager to the Fund pursuant to investment management agreements approved by the Fund’s Board of Directors and shareholders. Investment management and advisory fees are accrued daily and paid monthly.

Pursuant to sub-advisory agreements between HL Advisors and Hartford Investment Management, Hartford Investment Management provides the day-to-day investment management services to the Fund. Hartford Investment Management determines the purchase and sale of portfolio securities and places such orders for execution in the name of the Fund. In conjunction with their investment activity, Hartford Investment Management regularly furnishes reports to the Fund’s Board of Directors concerning economic forecasts, investment strategy, portfolio activity and performance of the Fund.

b)  Administrative Services Agreement — Under the Administrative Services Agreement between HLIC and the Fund, HLIC provides administrative services to the Fund and receives monthly compensation at the annual rate of 0.20% for the first $5 billion in average net assets, 0.18% of average net assets from the next $5 billion and 0.17% for average net assets over $10 billion. The Fund assumes and pays certain other expenses (including, but not limited to, accounting, custodian, state taxes and directors’ fees). Directors’ fees represent remuneration paid or accrued to directors not affiliated with HLIC or any other related company. The Fund’s administrative fees are accrued daily and paid monthly.

The schedule below reflects the rates of compensation paid to HL Advisors for investment advisory services and to HLIC for administrative services rendered during the year ended December 31, 2007; the rates are accrued daily and paid monthly.

Hartford Index HLS Fund

Average Daily Net Assets	Annual Rate
On first $2 billion		0.30%
Next $3 billion		0.20%
Next $5 billion		0.18%
Over $10 billion		0.17%

c)  Accounting Services Agreement — Under the Fund Accounting Agreement between HLIC and the Fund, Hartford Life provides accounting services to the Fund and received monthly compensation at the annual rate of 0.015% of the Fund’s average daily net assets. The Fund’s accounting services fees are accrued daily and paid monthly.

Effective January 1, 2008, the rates of compensation paid to HLIC will be 0.010%.

­ ­  15  ­ ­

d)	Other Related Party Transactions — The Hartford provided certain legal services to the Funds, for which the Funds were charged $2 for the one year period ended December 31, 2007. Certain officers of the Funds are Directors and/or officers of HLIA, Hartford Investment Management and /or The Hartford or its subsidiaries. For the year period ended December 31, 2007, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $4.
e)	Operating Expenses — Allocable expenses of the Fund are charged to the Fund based on the ratio of the net assets of the Fund to the combined net assets of the Mutual Funds. Non-allocable expenses are charged to the Fund based on specific identification.
f)	Fees Paid Indirectly — The Fund has entered into an agreement with State Street Global Advisors, LLC and Frank Russell Securities, Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. The Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2007, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets excludes fees paid indirectly in the financial highlights. Had the fees paid indirectly been included, the annualized expense ratios for the years listed below, would have been as follows:

For the

For the

For the

For the

Year Ended

Year Ended

Year Ended

Year Ended

December 31, 2007

December 31, 2006

December 31, 2005

December 31, 2004

Ratio of Expenses

Ratio of Expenses

Ratio of Expenses

Ratio of Expenses

to Average Net

to Average Net

to Average Net

to Average Net

Assets After

Assets After

Assets After

Assets After

Waivers and Offsets

Waivers and Offsets

Waivers and Offsets

Waivers and Offsets

Fund

Class IA

Class IB

Class IA

Class IB

Class IA

Class IB

Class IA

Class IB

Hartford Index HLS Fund

0.33

%

0.58

%

0.33

%

0.58

%

0.42

%

0.67

%

0.44

%

0.69

%

g)  Distribution Plan for Class IB shares — The Fund has adopted a Distribution Plan pursuant to Rule 12b-1 under the 1940 Act for the Class IB shares. Pursuant to the Distribution Plan, the Fund compensates the Distributor, Hartford Security Distribution Company, Inc. (a wholly owned, ultimate subsidiary of Hartford Life, Inc.) from assets attributable to the Class IB shares for services rendered and expenses borne in connection with activities primarily intended to result in the sale of the Class IB shares.

The Distribution Plan provides that the Fund may pay annually up to 0.25% of the average daily net assets of the Fund attributable to its Class IB shares for activities primarily intended to result in the sale of Class IB shares. Under the terms of the Distribution Plan and the principal underwriting agreement, the Fund is authorized to make payments monthly to the Distributor which may be used to pay or reimburse entities providing distribution and shareholder servicing with respect to the Class IB shares for such entities’ fees or expenses incurred or paid in that regard. The Fund’s distribution fees are accrued daily and paid monthly.

h)  Payment from Affiliate — The Fund is available for purchase by the separate accounts of different variable universal life policies, variable annuity products, and funding agreements and they are offered directly to certain qualified retirement plans (“Products”). Although existing Products contain transfer restrictions, some Products, particularly older variable annuity products, do not contain restrictions on the frequency of transfers. In addition, as the result of the settlement of litigation against Hartford Life, (the issuers of such variable annuity products), the Fund’s ability to restrict transfers by certain owners of older variable annuity products was limited. During 2006, these annuity owners surrendered the older variable annuity contracts that were subject to prior litigation. In February 2005, Hartford Life agreed with the Board of Directors of the Fund to indemnify the Fund for any material harm caused to the Fund from frequent trading by these contracts owners. Pursuant to the agreement $90 was paid to the Fund in 2006 as seen on the Statement of Changes in Net Assets for the year ended December 31, 2006.

The total return in the financial highlights includes payment from affiliate. Had the payment from affiliate for unrestricted transfers been excluded, the impact on total return for the year ended December 31, 2006, would have been 0.01% for Class IA and Class IB.

4.  Investment Transactions:

For the year period ended December 31, 2007, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments and U.S. government obligations) amounted to $75,404 and $355,949, respectively.

5.  Line of Credit:

The Fund participates in a $1 billion committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. For the year period ended December 31, 2007, the Fund did not have any borrowings under this facility.

­ ­  16  ­ ­

Hartford Index HLS Fund

Financial Highlights

	— Selected Per-Share Data(3) —
							Net												— Ratios and Supplemental Data —
							Realized															Net										Ratio of			Ratio of			Ratio of
							and							Distributions								Increase										Expenses			Expenses			Net
	Net Asset		Net				Unrealized		Total		Dividends			from								(Decrease)			Net Asset					Net Assets		to Average			to Average			Investment
	Value at		Investment		Payment		Gain		from		from Net			Realized			Distributions					in Net			Value at					at End of		Net Assets			Net Assets			Income			Portfolio
	Beginning		Income		from (to)		(Loss) on		Investment		Investment			Capital			from		Total			Asset			End		Total			Period		Before			After			to Average			Turnover
	of Period		(Loss)		Affiliate		Investments		Operations		Income			Gains			Capital		Distributions			Value			of Period		Return(1)			(000’s)		Waivers(2)			Waivers(2)			Net Assets			Rate(4)
Hartford Index HLS Fund
For the Year Ended December 31, 2007
Class IA	$	32.36	$	0.59	$	—	$	1.07	$	1.66	$	(0.57	)	$	(1.91	)	$	—	$	(2.48	)	$	(0.82	)	$	31.54		5.20	%	$	1,390,827		0.33	%		0.33	%		1.61	%		4	%
Class IB		32.22		0.48		—		1.09		1.57		(0.48	)		(1.91	)		—		(2.39	)		(0.82	)		31.40		4.94			271,967		0.58			0.58			1.36			—
For the Year Ended December 31, 2006
Class IA		31.97		0.56		—		4.05		4.61		(0.56	)		(3.66	)		—		(4.22	)		0.39			32.36		15.46	(5)		1,598,176		0.42			0.33			1.60			4
Class IB		31.84		0.44		—		4.06		4.50		(0.46	)		(3.66	)		—		(4.12	)		0.38			32.22		15.17	(5)		276,850		0.67			0.58			1.36			—
For the Year Ended December 31, 2005
Class IA		32.17		0.51		—		0.90		1.41		(0.61	)		(1.00	)		—		(1.61	)		(0.20	)		31.97		4.50			1,701,424		0.42			0.42			1.46			5
Class IB		32.02		0.40		—		0.93		1.33		(0.51	)		(1.00	)		—		(1.51	)		(0.18	)		31.84		4.24			263,579		0.67			0.67			1.21			—
For the Year Ended December 31, 2004
Class IA		29.60		0.50		—		2.56		3.06		(0.39	)		(0.10	)		—		(0.49	)		2.57			32.17		10.39			1,973,470		0.44			0.44			1.60			5
Class IB		29.49		0.44		���		2.53		2.97		(0.34	)		(0.10	)		—		(0.44	)		2.53			32.02		10.12			252,959		0.69			0.69			1.35			—
For the Year Ended December 31, 2003
Class IA		23.46		0.36		—		6.23		6.59		(0.37	)		(0.08	)		—		(0.45	)		6.14			29.60		28.13			1,934,490		0.44			0.44			1.40			3
Class IB		23.39		0.31		—		6.19		6.50		(0.32	)		(0.08	)		—		(0.40	)		6.10			29.49		27.81			195,900		0.69			0.69			1.15			—

(1)	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.
(2)	Ratios do not reflect reductions for fees paid indirectly. Please see Note 3(f).
(3)	Information presented relates to a share outstanding throughout the indicated period.
(4)	Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(5)	Total return without the inclusion of the Payment from (to) Affiliate, as noted on the Statements of Operations, can be found in Note 3(h).

­ ­  17  ­ ­

Report of Independent Registered Public Accounting Firm

The Board of Directors and Shareholders of
Hartford Series Fund, Inc.

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Hartford Index HLS Fund (one of twenty-six portfolios constituting the Hartford Series Fund, Inc.) (the “Funds”) as of December 31, 2007, and the related statement of operations for the year then ended, the statement of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the periods indicated therein. These financial statements and financial highlights are the responsibility of the Fund’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Funds’ internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of investments owned as of December 31, 2007, by correspondence with the custodian, agent banks and brokers or by other appropriate auditing procedures where replies from agent banks or brokers were not received. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Hartford Index HLS Fund of Hartford Series Fund, Inc. at December 31, 2007, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the periods indicated therein, in conformity with U.S. generally accepted accounting principles.

/s/ ERNST & YOUNG LLP

Minneapolis, Minnesota

February 11, 2008

­ ­  18  ­ ­

Hartford Index HLS Fund

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 89 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut, 06104-2999, except that correspondence to Ms. Fagely, Ms. Fleege, and Ms. Settimi may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, age, current position with the Fund and date first elected or appointed to Hartford Series Fund, Inc. (“SF”) and Hartford HLS Series Fund II, Inc. (“SF2”), principal occupation, and, for directors, other directorships held. The Funds’ statement of additional information contains further information on the directors and is available free of charge by calling 1-800-862-6668 or writing to Hartford HLS Funds, c/o Individual Annuity Services, P.O. Box 5085, Hartford, CT 06102-5085.

Information on the aggregate remuneration paid to the directors by each Fund can be found in the Statement of Operations herein. The Funds pay a portion of the Chief Compliance Officer’s compensation, but otherwise do not pay salaries or compensation to any of their officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (age 61) Director since 2003, Chairman of the Litigation Committee; Co-Chairman of the Investment Committee

Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

Robert M. Gavin, Jr. (age 67) Director since 2002 (SF) and 1986 (SF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (age 62) Director since 2001 (SF) and 2002 (SF2), Chairman of the Nominating Committee

Mr. Hill is a Partner of TSG Ventures L.P., a private equity investment company. Mr. Hill is a former partner of TSG Capital Group, a private equity investment firm that serves as sponsor and lead investor in leveraged buyouts of middle market companies.

Sandra S. Jaffee (age 66) Director since 2005

Ms. Jaffee is Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (age 63) Director since 2005, Chairman of the Compliance Committee

In June 2006, Mr. Johnston was appointed as Senior Advisor to The Carlyle Group, a global private equity investment firm. In May 2006, Mr. Johnston was elected to the Supervisory Board of Fresenius Medical Care AG & Co. KGaA, after its acquisition of Renal Care Group, Inc. in March 2006. Mr. Johnston joined Renal Care Group in November 2002 as a member of the Board of Directors and served as Chairman of the Board from March 2003 through March 2006. From September 1987 to December 2002, Mr. Johnston was with Equitable Securities Corporation (and its successors, SunTrust Equitable Securities and SunTrust Robinson Humphrey) serving in various investment banking and managerial positions, including Managing Director and Head of Investment Banking, Chief Executive Officer and Vice Chairman.

Phillip O. Peterson (age 63) Director since 2002 (SF) and 2000 (SF2), Chairman of the Audit Committee

Mr. Peterson is a mutual fund industry consultant. He was a partner of KPMG LLP (an accounting firm) until July 1999. Mr. Peterson joined William Blair Funds in February 2007 as a member of the Board of Trustees. From January 2004 to April 2005, Mr. Peterson served as Independent President of the Strong Mutual Funds.

Lemma W. Senbet (age 61) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

­ ­  19  ­ ­

Hartford Index HLS Fund

Directors and Officers (Unaudited) — (continued)

Interested Directors and Officers

Thomas M. Marra (age 49) Director since 2002

Mr. Marra is President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”). He is also a member of the Board of Directors for The Hartford. Mr. Marra was named President and COO of The Hartford in 2007. He has served as COO of Hartford Life, Inc. from 2000, as President of Hartford Life, Inc. since 2002, and as Director of Hartford Life, Inc.’s Investment Products Division from 1998 to 2000.

Lowndes A. Smith (age 68) Director since 1996 (SF) and 2002 (SF2), Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of Hartford Life, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002.

David M. Znamierowski (age 47) Director since 1999 (SF) and 2005 (SF2)

Mr. Znamierowski currently serves as Director and President of Hartford Investment Management Company (“Hartford Investment Management”), as Chief Investment Officer and Executive Vice President for The Hartford and Hartford Life, Inc., as Director, Chief Investment Officer and Executive Vice President of Hartford Life Insurance Company (“Hartford Life”) and as Chief Investment Officer for Hartford Administrative Services Company (“HASCO”).

Other Officers

Robert M. Arena, Jr. (age 39) Vice President since 2006

Mr. Arena serves as Senior Vice President of Hartford Life and heads its Retail Product Management Group in the U.S. Wealth Management Division. Additionally, Mr. Arena is Director and Senior Vice President of HASCO, Manager and Senior Vice President/Business Line Principal of Hartford Investment Financial Services, LLC (“HIFSCO”) and Manager and Senior Vice President of HL Investment Advisors LLC, (“HL Advisors”). Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Scandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (age 49) Vice President, Treasurer, and Controller since 1993

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition she is Controller and Chief Financial Officer of HIFSCO.

Susan Fleege (age 48) Anti-Money Laundering (“AML”) Compliance Officer since 2005

Ms. Fleege has served as Chief Compliance Officer for HASCO since 2005 and for Hartford Investor Services Company, LLC, (“HISC”) since 2006. She also serves as the AML Compliance Officer for HASCO and HISC. Prior to joining Hartford Life in 2005, Ms. Fleege was Counsel for Ameriprise Financial Corporation from 2000 to 2005.

Thomas D. Jones, III (age 42) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (age 40) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant General Counsel and Assistant Vice President of The Hartford and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President of HASCO, Assistant Vice President of Hartford Life, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (age 43) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life and Director of its Investment Advisory Group in the U.S. Wealth Management Division. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

Denise A. Settimi (age 47) Vice President since 2005

Ms. Settimi currently serves as Chief Operating Officer and Assistant Vice President of HASCO. She is also Assistant Vice President of HIFSCO and Hartford Life. Previously, Ms. Settimi was with American Express Financial Advisors, where she was Director of Retirement Plan Services from 1997 to 2003.

John C. Walters (age 45) President since 2007¹

Mr. Walters currently serves as President of the U.S. Wealth Management Division and Director of Hartford Life, Inc. Mr. Walters also serves as Co-Chief Executive Officer, Co-President and Director of Hartford Life and Executive Vice President of The Hartford. Mr. Walters previously served as Executive Vice President and Director of the Investment Products Division of Hartford Life, Inc. Mr. Walters is also Chief Executive Officer, Manager and President of HIFSCO and HL Advisors. Previously, Mr. Walters was with First Union Securities.

¹  As of November 7, 2007

­ ­  20  ­ ­

Hartford Index HLS Fund

HOW TO OBTAIN A COPY OF THE FUND’S PROXY VOTING POLICIES AND PROXY VOTING RECORDS (UNAUDITED)

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities and a record of how the Fund voted any proxies for the twelve-month period ended June 30, 2007 is available (1) without charge, upon request, by calling 800-862-6668 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION (UNAUDITED)

The Fund files a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Form N-Q will be available (1) without charge, upon request, by calling 800-862-6668 and (2) on the Securities and Exchange Commission’s website at www.sec.gov. The Forms N-Q may be reviewed and copied at the Securities and Exchange Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-202-551-8090.

­ ­  21  ­ ­

Hartford Index HLS Fund

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs(in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of June 30, 2007 through December 31, 2007.

Actual Expenses

The first line of the table below provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6, then multiply the result by the number in the first line under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line of the table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would be higher.

Expenses are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

	Actual return						Hypothetical (5% return before expenses)
					Expenses paid						Expenses paid
	Beginning		Ending		during the period		Beginning		Ending		during the period					Days
	Account		Account		June 30, 2007		Account		Account		June 30, 2007		Annualized			in the		Days
	Value		Value		through		Value		Value		through		expense			current		in the
	June 30, 2007		December 31, 2007		December 31, 2007		June 30, 2007		December 31, 2007		December 31, 2007		ratio			1/2 year		full year
Hartford Index HLS Fund
Class IA	$	1,000.00	$	983.56	$	1.70	$	1,000.00	$	1,023.49	$	1.73		0.34	%		184		365
Class IB	$	1,000.00	$	981.05	$	2.95	$	1,000.00	$	1,022.23	$	3.01		0.59	%		184		365

­ ­  22  ­ ­

Hartford Index HLS Fund

Approval of Investment Management, Investment Advisory and Amended Investment Sub-Advisory Agreements (Unaudited)

Section 15(c) of the Investment Company Act of 1940, as amended (the “1940 Act”), requires that each mutual fund’s board of directors, including a majority of those directors who are not “interested persons” of the mutual fund, as defined in the 1940 Act (“Independent Directors”), annually review and consider the continuation of the mutual fund’s investment advisory and sub-advisory agreements after an initial two year period.

At a meeting held on August 7-8, 2007, the Board of Directors (the “Board”) of the Fund, including each of the Independent Directors, unanimously voted to approve the investment management agreement for the Fund with an agreement up for renewal with HL Investment Advisors, LLC (“HL Advisors”) and the investment sub-advisory agreement between HL Advisors and the Fund’s sub-adviser (“sub-adviser,” and together with HL Advisors, “advisers”) — Hartford Investment Management Company (“Hartford Investment Management”) (collectively, the “agreements”). In the months preceding this meeting, the Board requested, received, and reviewed written responses from the advisers to questions posed to them on behalf of the Independent Directors and supporting materials relating to those questions and responses. In addition, the Board received in-person presentations about the Fund and the related agreements by Fund officers and representatives of HL Advisors at the Board’s meetings on June 19-20, 2007 and August 7-8, 2007. In considering the approval of the agreements, the Board also took into account information provided to the Board at its meetings throughout the year, including reports on Fund performance, compliance, shareholder services, and the other services provided to the Fund by the advisers and their affiliates.

The Independent Directors, advised by independent legal counsel, engaged two service providers to assist them with evaluating the agreements with respect to the Fund. Lipper, Inc. (“Lipper”), an independent provider of investment company data, was retained to provide the Board with reports on how the Fund’s management fee, administrative fee, overall expense ratio, and investment performance compared to those of mutual funds with similar investment objectives in a peer group (“peer funds”). The Independent Directors also engaged an independent financial services consulting firm (the “Consultant”) to assist them in evaluating the Fund’s advisory fee, administrative fee, overall expense ratio and investment performance.

The Board considered the agreements for the Fund at the June and August meetings. In determining to continue the agreements for the Fund, the Board determined that the proposed management fee structure was fair and reasonable and that continuation of the agreements was in the best interests of the Fund and its shareholders. In determining to re-approve the agreements, the Board considered the following categories of material factors, among others, relating to the agreements.

Nature, Extent and Quality of Services

The Board requested and considered information concerning the nature, extent, and quality of the services provided to the Fund by the advisers. The Board considered, among other things, the terms of the agreements, the range of services provided, and each adviser’s organizational structure, systems and personnel.¹ The Board received information on the experience of senior management and relevant investment and other personnel of the advisers, and the adequacy of the time and attention devoted by them to the Fund. The Board considered each adviser’s reputation and overall financial strength, as well as its willingness to consider and implement organizational and operational changes, including hiring additional personnel, designed to improve services to the Fund, and its investments in infrastructure in light of increased regulatory requirements and other developments. The Board considered the progress that Hartford Investment Management has made in developing an equity management capability. In addition, the Board considered the quality of each adviser’s communications with the Board and responsiveness to Board inquiries.

The Board also requested and evaluated information concerning each adviser’s regulatory and compliance environment. In this regard, the Board requested and reviewed information on each adviser’s compliance policies and procedures, their compliance history, and a report from the Fund’s Chief Compliance Officer on each adviser’s compliance with applicable laws and regulations, including their responses to regulatory developments and compliance issues raised by regulators. The Board also noted the advisers’ support of the Fund’s compliance control structure, particularly the resources devoted by the advisers in support of the Fund’s obligations pursuant to Rule 38a-1 under the 1940 Act.

With respect to HL Advisors, the Board noted that under the agreements, HL Advisors is responsible for the management of the Fund, including overseeing fund operations and service providers, and Hartford Life provides administrative services to the Fund, as well as the investment advisory services in connection with selecting, monitoring and supervising sub-advisers. The Board considered its experiences with HL Advisors and Hartford Life with respect to each of these services. The Board considered that HL Advisors or its affiliates is responsible for providing the Fund’s officers and paying their salaries and expenses. In addition, the Board considered the nature and quality of the services provided to the Fund and its shareholders by HL Advisors’ affiliates.

With respect to the sub-adviser, who provides day-to-day portfolio management services, the Board considered the quality of the sub-adviser’s investment personnel, its ability to attract and retain qualified investment professionals, its investment philosophy and process, investment research capabilities and resources, performance record, trade execution capabilities and experience.

Based on these considerations, the Board concluded that it was satisfied with the nature, extent and quality of the services provided to the Fund by HL Advisors and the sub-advisers.

Performance of the Fund, HL Advisors, and the Sub-Adviser

The Board considered the investment performance of the Fund. In this regard, the Board considered information and materials provided to the Board from HL Advisors and Lipper comparing the Fund’s short-term and long-term investment performance over various periods of time with appropriate benchmark indices, and with a performance universe of funds selected by Lipper. This information included performance reports (provided by Lipper and HL Advisors) and discussions with portfolio managers and other representatives of the sub-adviser at Board meetings throughout the year, as well as the information provided especially for the annual contract review. The Board also considered the analysis provided by the Consultant relating to the Fund’s performance track record.

¹ The Fund has entered into an investment management agreement with HL Advisors for investment advisory services, and a separate administrative agreement with Hartford Life Insurance Company (“Hartford Life”), under which Hartford Life provides certain administrative services to the Fund. The Board considered the fees payable under both agreements in the aggregate.

­ ­  23  ­ ­

Hartford Index HLS Fund

Approval of Investment Management, Investment Advisory and Amended Investment Sub-Advisory Agreement (Unaudited) — (continued)

The Board considered HL Advisors’ cooperation with the Investment Committee, which assists the Board in evaluating the performance of the Fund at periodic meetings throughout the year. The Board reviewed the performance of the Fund over the different time periods presented in the materials and evaluated each adviser’s analysis of the Fund’s performance for these time periods, with specific attention to information indicating underperformance of certain funds for specific time periods relative to a peer group or benchmark, and the causes for such underperformance. In evaluating the performance of the Fund, the Board also considered whether the Fund had been in operation for a sufficient time period to establish a meaningful performance track record.

Based on these considerations, the Board concluded with respect to the Fund that the Fund’s performance over time has been satisfactory and the Board had continued confidence in HL Advisors’ and the sub-adviser’s overall capabilities to manage the Fund.

Costs of the Services and Profitability of HL Advisors and the Sub-Adviser

The Board reviewed information regarding HL Advisors’ cost to provide investment management and related services to the Fund and HL Advisors’ profitability, both overall and for the Fund, on a pre-tax basis without regard to distribution expenses. The Board also requested and reviewed information about the profitability to HL Advisors and its affiliates from all services provided to the Fund and all aspects of their relationship with the Fund. The Board noted that HL Advisors represented that the profitability information was calculated using the same methodology used by HL Advisors in 2006, a methodology which had been refined in 2006 as part of an independent third party review.

The Board considered the costs and profitability information for HL Advisors and Hartford Investment Management in the aggregate.

Based on these considerations, the Board concluded that the profits anticipated to be realized by the advisers and their affiliates from their relationships with the Fund would not be excessive.

Comparison of Fees and Services Provided by HL Advisors and the Sub-Adviser

The Board considered comparative information with respect to the investment management fee and administrative fee to be paid by the Fund to HL Advisors and its affiliates, the investment sub-advisory fee to be paid to the sub-adviser, and the total expense ratio of the Fund. In this regard, the Board requested and reviewed information from HL Advisors and the sub-adviser relating to the management fee, administrative fee, sub-advisory fee, and total operating expenses for the Fund. The Board also reviewed written materials from Lipper providing comparative information about the Fund’s management fee, administrative fee and total expense ratio and the components thereof, relative to those of its peer group. While the Board recognized that comparisons between the Fund and its peer funds are imprecise, given the differing service levels and characteristics of mutual funds, and the different business models and cost structures of advisers, the comparative information provided by Lipper assisted the Board in evaluating the reasonableness of the Fund’s management and sub-advisory fees and total operating expenses.

Based on these considerations, the Board concluded that the Fund’s fees and total operating expenses are within a range that is competitive with fees and total operating expenses charged by peer funds, and, in conjunction with the information about quality of services, profitability, economies of scale, and other matters discussed, are reasonable.

Economies of Scale

The Board requested and considered information regarding the advisers’ realization of economies of scale with respect to the Fund, and whether the fee levels reflect these economies of scale for the benefit of the Fund’s investors. With respect to HL Advisors, the Board considered representations from HL Advisors that it is difficult to anticipate whether and to what extent economies may be realized by HL Advisors as assets grow over time. The Board reviewed the breakpoints in the advisory fee schedule for the Fund and the administrative fee schedule for the Fund, which reduce fees as Fund assets grow over time. The Board recognized that a fund with assets beyond the last breakpoint level continues to benefit from economies of scale, because additional assets are charged the lowest breakpoint fee, resulting in lower overall effective management fee rates. The Board considered that the Fund may achieve some economies as certain fixed expenses are spread over a larger asset base, noting that there is no precise way to measure such economies, and that certain expenses do not necessarily decrease as assets increase. The Board also considered that expense limitations and fee waivers that reduce Fund expenses at all asset levels can have the same effect as breakpoints in sharing economies of scale with shareholders, and that a schedule that reaches a lower breakpoint quickly provides shareholders with the benefit of anticipated or potential economies of scale.

The Board reviewed and evaluated materials from Lipper showing how management fee schedules of peer funds reflect economies of scale for the benefit of investors as a peer fund’s assets hypothetically increase over time. Based on information provided by HL Advisors, Lipper, and the Consultant, the Board recognized that there is no uniform methodology for establishing breakpoints, or uniform pattern in asset levels that trigger breakpoints or the amounts of breakpoints triggered.

After considering all of the information available to it, the Board concluded that it was satisfied with the extent to which economies of scale would be shared for the benefit of the Fund’s investors, based on currently available information and the effective advisory fees and expense ratio for the Fund at its current and reasonably anticipated asset levels. The Board noted, however, that it would continue to monitor future growth in Fund assets and the appropriateness of additional breakpoints.

Other Benefits

The Board considered other benefits to the advisers and their affiliates from their relationships with the Fund, including the role of the Fund in supporting the variable life insurance and variable annuity products offered by The Hartford. The Board reviewed information noting that Hartford Life, an affiliate of HL Advisors, receives fees from the Fund for providing certain administrative services for the Fund, and that Hartford Life also receives fees for fund accounting and related services from the Fund, and the Board considered information on expected profits to Hartford Life or its affiliates for such services. The Board considered the fact that Hartford Life had agreed to implement a new accounting services fee structure for the Fund with breakpoints. Based upon estimated expense information, this change will result in savings to Hartford-sponsored funds of approximately $250,000 per year.

­ ­  24  ­ ­

The Board also considered that Hartford Investor Services Company, LLC (“HISC”), the Fund’s transfer agent and an affiliate of HL Advisors, receives transfer agency compensation from the Fund, and the Board reviewed information on the expected profitability of the Fund’s transfer agency function to HISC. The Board considered information provided by HL Advisors indicating that the fee charged by HISC to the Fund is reasonable and in line with industry standards.

The Board also considered that Hartford Securities Distribution Company, Inc. (“HSDC”), as principal underwriter of the Fund, receives 12b-1 fees from the Fund. The Board also noted that certain affiliates of HL Advisors distribute shares of the Fund and receive compensation in that connection.

The Board considered benefits to the sub-adviser from its proposed use of the Fund’s brokerage commissions to obtain soft dollar research, and representations from HL Advisors and the sub-adviser that the sub-adviser would not be making revenue-sharing or other payments to HL Advisors or its affiliates in connection with the distribution of the Fund.

The Board considered the benefits to shareholders of being part of the Hartford family of funds. The Board considered HL Advisors’ efforts to provide investors in the family with a broad range of investment styles and asset classes, and its entrepreneurial risk in initiating new funds to expand these opportunities for shareholders.

* * * *

Based upon its review of these various factors, among others, the Board concluded that it is in the best interests of the Fund and its shareholders for the Board to approve the agreements for an additional year. In reaching this decision, the Board did not assign relative weights to the factors discussed above or deem any one or group of them to be controlling in and of themselves. In connection with their deliberations, the Independent Directors met separately in executive session on several occasions, with independent legal counsel, to review the relevant materials and consider their responsibilities under relevant laws and regulations.

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Item 2. Code of Ethics.

     Registrant has adopted a code of ethics that applies to Registrant’s principal executive officer, principal financial officer, and controller, which is attached as an exhibit.

Item 3. Audit Committee Financial Expert.

     The Board of Directors of the Registrant has designated Phillip O. Peterson as an Audit Committee Financial Expert. Mr. Peterson is considered by the Board to be an independent director.

Item 4. Principal Accountant Fees and Services.

(a)	Audit Fees: $443,100 for the fiscal year ended December 31, 2006; $474,000 for the fiscal year ended December 31, 2007.
(b)	Audit Related Fees: $108,189 for the fiscal year ended December 31, 2006; $127,942 for the fiscal year ended December 31, 2007. Audit-related services principally in connection with the SAS 70 report and the SEC Rule 17Ad-13 report.
(c)	Tax Fees: $93,456 for the fiscal year ended December 31, 2006; $104,867 for the fiscal year ended December 31, 2007.
(d)	All Other Fees: $0 for the fiscal year December 31, 2006; $0 for the fiscal year ended December 31, 2007.
(e)	(1) A copy of the Audit Committee’s pre-approval policies and procedures is attached as an exhibit.
(e)	(2) One Hundred percent of the services described in items 4(b) through 4(d) were approved in accordance with the Audit Committee’s Pre-Approval Policy. As a result, none of such services was approved pursuant to paragraph (c) (7) (i) (c) of Rule 2-01 of Regulation S-X.
(f)	None of the hours expended on the principal accountant’s engagement to audit the Registrant’s financial statements for the year ended December 31, 2007, were attributed to work performed by persons other than the principal accountant’s full-time employees.
(g)	Non-Audit Fees: $670,757 for the fiscal year ended December 31, 2006; $1,008,794 for the fiscal year ended December 31, 2007.
(h)	The registrant’s Audit Committee of the Board of Directors has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c) (7) (ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.

Item 5. Audit Committee of Listed Registrants.

Registrant has a separately designated standing Audit Committee comprised of the independent directors listed below:

Robert M. Gavin
Sandra S. Jaffee
William P. Johnston
Phillip O. Peterson

Item 6. Schedule of Investments

     The Schedule of Investments is included as part of the annual report filed under Item 1 of this form.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

     Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

     Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

     Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders

     There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s board of directors since registrant last provided disclosure in response to this requirement.

Item 11. Controls and Procedures.

(a) Based on an evaluation of the Registrant’s Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report, the Disclosure Controls and Procedures are effectively designed to ensure that information required to be disclosed by the Registrant is recorded, processed, summarized and reported by the date of this report, including ensuring that information required to be disclosed in the report is accumulated and communicated to the Registrant’s management, including

	the Registrant’s officers, as appropriate, to allow timely decisions regarding required disclosure.
(b)	There was no change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s last fiscal half year that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Exhibits.

     12(a)(1) Code of Ethics

     12(a)(2) Audit Committee Pre-Approval Policies and Procedures

     12(a)(3) Section 302 certifications of the principal executive officer and principal financial officer of Registrant.

         (b) Section 906 certification.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	HARTFORD SERIES FUND, INC.
Date: February 13, 2008	By:	/s/ John C. Walters
		John C. Walters
		Its: President

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Date: February 13, 2008	By:	/s/ John C. Walters
		John C. Walters
		Its: President
Date: February 13, 2008	By:	/s/ Tamara L. Fagely
		Tamara L. Fagely
		Its: Vice President, Controller and Treasurer

EXHIBIT LIST

	12(a)(1)	Code of Ethics
	12(a)(2)	Audit Committee Pre-Approval Policies and Procedures
99.CERT	12(a)(3)	Certifications
		(i) Section 302 certification of principal executive officer
		(ii) Section 302 certification of principal financial officer
99.906CERT	12(b)	Section 906 certification of principal executive officer and principal financial officer