FDP Series N-CSRS Certified semi-annual shareholder report (management investment company)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSRS

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-21744

Name of Fund:	FDP Series, Inc.
	Franklin Templeton Total Return FDP Fund
	Marsico Growth FDP Fund
	MFS Research International FDP Fund
	Van Kampen Value FDP Fund

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, FDP Series, Inc., 40 East 52^nd Street, New York, NY 10022

Registrant’s telephone number, including area code: (800) 441-7762

Date of fiscal year end: 05/31/2011

Date of reporting period: 11/30/2010

Item 1 – Report to Stockholders

November 30, 2010                    

Semi-Annual Report (Unaudited)
FDP Series, Inc.
►	MFS Research International FDP Fund
►	Marsico Growth FDP Fund
►	Van Kampen Value FDP Fund
►	Franklin Templeton Total Return FDP Fund

Not FDIC Insured § No Bank Guarantee § May Lose Value

Table of Contents
	Page
Dear Shareholder	3
Semi-Annual Report:
Fund Summaries	4
Portfolio Information	12
About Fund Performance	14
Disclosure of Expenses	15
The Benefits and Risks of Leveraging	16
Derivative Financial Instruments	16
Financial Statements:
Schedules of Investments	17
Statements of Assets and Liabilities	33
Statements of Operations	35
Statements of Changes in Net Assets	36
Financial Highlights	39
Notes to Financial Statements	55
Officers and Directors	66
Additional Information	67
Mutual Fund Family	70

FDP Series, Inc. is part of the Funds Diversified Portfolios^SM (FDP) Service. You may receive separate shareholder reports for other funds available through the Service.

2 FDP SERIES, INC. NOVEMBER 30, 2010

Dear Shareholder

The global economic recovery that began in 2009 has continued this year and has accelerated as the period drew to a close. Although we remain mired in a slow-growth environment, recent economic data releases have been generally positive and the global economy as a whole appears to be on firmer footing. In the United States, the corporate sector has been an important area of strength and consumer spending has held up reasonably well; however weakness in the housing and labor markets continues to be a drag on the overall economy. Deflationary pressures and deleveraging risks continue to threaten the momentum of economic growth, but the Federal Reserve Board (the “Fed”) has responded by implementing an additional program of quantitative easing (known informally as “QE2”) with the primary purpose of combating these forces.

The high levels of volatility experienced in global equity markets throughout 2009 continued into 2010 as mixed economic data and lingering credit issues caused stocks to trade in both directions, but by the end of the first quarter, most markets had managed to post gains. The second quarter brought higher levels of volatility and a “flight to quality” as investor sentiment was dominated by fears of a double-dip recession. Global equity markets saw negative quarterly returns — and for many markets, the first significant downturn since the bull market began in March 2009. In the third quarter, improving economic data and strong corporate earnings reports fueled a rebound in equity markets. Stocks continued their rally into the fourth quarter and, despite a modest correction through November, closed out the period in positive territory. Although international equities posted only modest gains for the 12-month period, returns were strong for the second half. In the United States, equities posted robust gains on both a six- and 12-month basis.

In fixed income markets, yields declined significantly over most of the past year as weak economic data, lingering credit problems and the anticipation of additional quantitative easing drove interest rates lower and bond prices higher. Near the end of the period, Treasury yields began climbing amid improved economic data and, although fixed income markets lost some ground, overall performance was strong for the year.

The strong performance seen in the tax-exempt municipal market since the launch of the Build America Bonds program in early 2009 was met with a reversal at the start of the fourth quarter 2010, when Treasury yields began to rise and municipal supply flooded the market as issuers anticipated the expiration of the Build America Bonds program. Despite market weakness near the end of the annual period, tax-exempt municipal bonds delivered positive performance for both the six- and 12-month periods. Cash investments, as represented by the 3-month Treasury bill, returned only a fraction over 0% for the 12-month period as short-term interest rates remained low. Yields on money market securities remain near all-time lows.

Against this backdrop, the major market averages posted the following returns:

Total Returns as of November 30, 2010	6-month		12-month
US large cap equities (S&P 500 Index)	9.50	%	9.94	%
US small cap equities (Russell 2000 Index)	10.57		26.98
International equities (MSCI Europe, Australasia, Far East Index)	13.73		1.11
3-month Treasury bill (BofA Merrill Lynch 3-Month Treasury Bill Index)	0.07		0.11
US Treasury securities (BofA Merrill Lynch 10-Year US Treasury Index)	6.13		7.00
US investment grade bonds (Barclays Capital US Aggregate Bond Index)	3.85		6.02
Tax-exempt municipal bonds (Barclays Capital Municipal Bond Index)	1.12		4.76
US high yield bonds (Barclays Capital US Corporate High Yield 2% Issuer Capped Index)	9.42		16.60

Past performance is no guarantee of future results. Index performance shown for illustrative purposes only. You cannot invest directly in an index.

As global economic conditions continue to improve, investors across the world continue to face uncertainty about the future of economic growth. Through periods of uncertainty, as ever, BlackRock’s full resources are dedicated to the management of our clients’ assets. For additional market perspective and investment insight, visit www.blackrock.com/shareholdermagazine, where you’ll find the most recent issue of our award-winning Shareholder^® magazine, as well as its quarterly companion newsletter, Shareholder Perspectives. As always, we thank you for entrusting BlackRock with your investments, and we look forward to your continued partnership in the months and years ahead.

Sincerely,

Rob Kapito
President, BlackRock Advisors, LLC

THIS PAGE NOT PART OF YOUR FUND REPORT 3

Fund Summary as of November 30, 2010 MFS Research International FDP Fund

Portfolio Management Commentary
	How did the Fund perform?
•	The Fund outperformed its benchmark, the MSCI Europe, Australasia and Far East (“EAFE”) Index, and its secondary benchmark, the MSCI All Country World excluding-US Index, for the six-month period ended November 30, 2010. The following discussion of relative performance pertains to the MSCI EAFE Index.
	What factors influenced performance?
•	Stock selection in the capital goods industry group was the primary contributor to the Fund’s performance relative to the MSCI EAFE Index. Among the top individual contributors in this group were the Fund’s holdings in automotive and industrial products manufacturer Tomkins Plc (United Kingdom); diversified industrial conglomerate Hutchison Whampoa Ltd. (Hong Kong); mining company Iluka Resources Ltd. (Australia); luxury automobile manufacturer Bayerische Motoren Werke AG (Germany); diversified mining company Teck Resources Ltd., Class B (Canada); commercial vehicle manufacturer MAN SE (Germany); industrial and medical gases producer Linde AG (Germany); and electrical distribution equipment manufacturer Schneider Electric SA (France).
•	Security selection in the financials sector also aided relative results, although no individual holdings within the sector were among the Fund’s top relative contributors for the period.
•	In other sectors, holdings of luxury goods company LVMH Moet Hennessy Louis Vuitton SA (France) boosted returns, and the timing of the Fund’s ownership in integrated oil company BP Plc (United Kingdom) proved beneficial.
•	Detracting from performance was security selection in the health care sector, where holdings of pharmaceutical and diagnostic company Roche Holding AG (Switzerland) and hospital and clinic operator Rhoen-Klinikum AG (Germany) were among the largest detractors.
•	Stocks in other sectors that hindered returns included parcel delivery services company Yamato Transport Co., Ltd. (Japan); retailer Espirit Holdings Ltd. (Hong Kong); copy machine manufacturer Konica Minolta Holdings, Inc. (Japan); passenger railway company East Japan Railway Co. (Japan); oil and gas exploration company Inpex Corp. (Japan); information technology solutions and consulting services provider Nomura Holdings, Inc. (Japan); and power and gas company E.ON AG (Germany), which is no longer held in the Fund. The Fund’s lack of holdings in mining operator Rio Tinto (Australia) was a disadvantage as the stock exhibited strong performance during the period.
•	The net effect of the Fund’s overall exposure to various currencies had a negative impact on returns.
	Describe recent portfolio activity.
•	During the six-month period, we trimmed the Fund’s exposure to some of the higher growth consumer cyclical stocks, as their valuations had become less attractive, and we replaced them with more defensive cyclicals. In the financials sector, we maintained our preference for emerging market banks due to their better growth prospects and stronger balance sheets relative to developed market banks. In energy, we took advantage of market movements in the integrated oil space to reposition the Fund’s United Kingdom holdings.
	Describe Fund positioning at period end.
•	The Fund is a sector-neutral portfolio that emphasizes bottom-up fundamental research. Allocation is, therefore, strictly a by-product of where our analysts are finding attractive investment opportunities. We continue to see opportunities for indirect plays on emerging markets; for example, European auto makers targeting the rising middle class in developing countries or food companies seeking to improve the quality of the foods consumed in those markets. In addition, our focus remains on higher quality names as we believe the market is not efficiently distinguishing between high and low quality companies at this time.

The views expressed reflect the opinions of the sub-advisor as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

4 FDP SERIES, INC. NOVEMBER 30, 2010

Total Return Based on a $10,000 Investment

1	Assuming maximum sales charges, transaction costs and other operating expenses, including advisory fees, if any. Institutional Shares do not have a sales charge.
2	MFS Research International FDP Fund invests, under normal market conditions, at least 65% of its assets in equity securities of foreign companies, including emerging market issuers.
3	This unmanaged broad-based index measures the total returns of developed foreign stock markets in Europe, Australasia and the Far East.
4	This market capitalization index is designed to measure equity market performance in the developed and emerging markets, excluding the US.
5	Commencement of operations.

Performance Summary for the Period Ended November 30, 2010
			Average Annual Total Returns6
			1 Year				5 Years				Since Inception7
	6-Month Total Returns		w/o sales charge		w/sales charge		w/o sales charge		w/sales charge		w/o sales charge		w/sales charge
Institutional	16.07	%	3.87	%	N/A		2.74	%	N/A		3.76	%	N/A
Investor A	16.10		3.62		(1.82	)%	2.50		1.40	%	3.51		2.47	%
Investor B	15.56		2.74		(1.76	)	1.68		1.32		2.71		2.54
Investor C	15.53		2.77		1.77		1.71		1.71		2.71		2.71
MSCI EAFE Index	13.73		1.11		N/A		1.80		N/A		3.11		N/A
MSCI All Country World (excluding US) Index	14.42		5.26		N/A		4.22		N/A		5.55		N/A

6	Assuming maximum sales charges, if any. Average annual total returns with and without sales charges reflect reductions for distribution and service fees. See “About Fund Performance” on page 14 for a detailed description of share classes, including any related sales charges and fees.
7	The Fund commenced operations on July 27, 2005.
	N/A — Not applicable as share class and index do not have a sales charge.
	Past performance is not indicative of future results.

FDP SERIES, INC. NOVEMBER 30, 2010 5

Fund Summary as of November 30, 2010	Marsico Growth FDP Fund
Portfolio Management Commentary

	How did the Fund perform?
•	The Fund outperformed the benchmark S&P 500 Index for the six-month period ended November 30, 2010.
	What factors influenced performance?
•	Contributing to the Fund’s performance was stock selection and an over-weight position in consumer discretionary, as the sector exhibited strong performance over the period. In particular, Fund holdings in Priceline.com, Inc. and Amazon.com, Inc. boosted returns. In the information technology (“IT”) sector, stock selection enhanced returns, with Chinese Internet search company Baidu.com, Inc. — ADR delivering exceptional performance. An overweight position and stock selection in the strong-performing materials sector proved beneficial, as positions in natural resources company BHP Billiton Plc — ADR and agricultural products company Monsanto Co. were notable contributors.
•	Detracting from performance was stock selection and an underweight position in the energy sector, where EOG Resources, Inc. was the largest individual detractor for the period. Due to the concentrated nature of the Fund’s portfolio construction, the proceeds from the sale or trimming of certain holdings are, at times, not immediately redeployed. The Fund’s cash balance detracted modestly from performance as markets generally advanced over the period.
	Describe recent portfolio activity.
•	During the six-month period, we modestly increased the Fund’s exposure to the consumer discretionary, materials and energy sectors, while we reduced allocations to financials and health care. Exposure to health care was eliminated by the end of the period.
	Describe Fund positioning at period end.
•	At period end, the Fund was overweight relative to the S&P 500 Index in the consumer discretionary and materials sectors, while it maintained underweight positions in consumer staples, financials, energy and utilities. On an absolute basis, the Fund’s largest sector allocations as of period end included consumer discretionary, materials, IT and industrials, while the Fund had limited or no exposure to consumer staples, telecommunication services, health care and utilities.

The views expressed reflect the opinions of the sub-advisor as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

6 FDP SERIES, INC. NOVEMBER 30, 2010

Total Return Based on a $10,000 Investment

1	Assuming maximum sales charges, transaction costs and other operating expenses, including advisory fees, if any. Institutional Shares do not have a sales charge.
2	Marsico Growth FDP Fund invests primarily in equity securities of large cap companies that are selected for their growth potential.
3	This unmanaged broad-based index is comprised of 500 industrial, utility, transportation and financial companies of the US markets (mostly New York Stock Exchange (“NYSE”) issues), representing about 75% of NYSE capitalization and 30% of NYSE issues.
4	Commencement of operations.

Performance Summary for the Period Ended November 30, 2010
			Average Annual Total Returns5
			1 Year				5 Years				Since Inception6
	6-Month Total Returns		w/o sales charge		w/sales charge		w/o sales charge		w/sales charge		w/o sales charge		w/sales charge
Institutional	14.78	%	14.55	%	N/A		1.45	%	N/A		2.38	%	N/A
Investor A	14.53		14.18		8.19	%	1.20		0.12	%	2.13		1.10	%
Investor B	14.15		13.31		8.81		0.42		0.02		1.33		1.15
Investor C	14.24		13.40		12.40		0.45		0.45		1.36		1.36
S&P 500 Index	9.50		9.94		N/A		0.98		N/A		1.25		N/A

5	Assuming maximum sales charges, if any. Average annual total returns with and without sales charges reflect reductions for distribution and service fees. See “About Fund Performance” on page 14 for a detailed description of share classes, including any related sales charges and fees.
6	The Fund commenced operations on July 27, 2005.
	N/A — Not applicable as share class and index do not have a sales charge.
	Past performance is not indicative of future results.

FDP SERIES, INC. NOVEMBER 30, 2010 7

Fund Summary as of November 30, 2010	Van Kampen Value FDP Fund
Portfolio Management Commentary

	How did the Fund perform?
•	The Fund outperformed its benchmark, the Russell 1000 Value Index, for the six-month period ended November 30, 2010.
	What factors influenced performance?
•	The Fund’s underweight in financials and stock selection within that sector, particularly among property & casualty holdings, were the largest contributors to the Fund’s outperformance versus the benchmark. An overweight and stock selection in the health care sector had a positive impact on performance, as did stock selection in consumer staples, where the Fund’s holdings are allocated to beverage, personal care and food companies.
•	The Fund’s lack of exposure to utilities detracted from performance as the sector performed well during the period. In addition, the Fund’s cash balance, although maintained within a moderate range near 3%, was a detractor as markets generally advanced over the period.
	Describe recent portfolio activity.
•	Portfolio turnover remained relatively low for the majority of the six-month period. Toward the end of the period, we reduced exposure to select insurance and media names and used the proceeds to increase the Fund’s exposure to energy and industrials through opportunistic purchases.
	Describe Fund positioning at period end.
•	At period end, the Fund’s key exposures were in pharmaceutical, property & casualty insurance and media stocks. Notable sector overweights relative to the benchmark include information technology and materials, while notable underweights include industrials and financials, as well as a minimal exposure to utilities.

The views expressed reflect the opinions of the sub-advisor as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

8 FDP SERIES, INC. NOVEMBER 30, 2010

Total Return Based on a $10,000 Investment

1	Assuming maximum sales charges, transaction costs and other operating expenses, including advisory fees, if any. Institutional Shares do not have a sales charge.
2	Van Kampen Value FDP Fund invests, under normal market conditions, at least 80% of its net assets (plus any borrowings for investment purposes) in common stocks at the time of investment. The Fund invests primarily in a portfolio of equity securities, consisting principally of common stocks.
3	This unmanaged broad-based index is a subset of the Russell 1000 Index consisting of those Russell 1000 securities with lower price/book ratios and lower forecasted growth values.
4	Commencement of operations.

Performance Summary for the Period Ended November 30, 2010

			Average Annual Total Returns5
			1 Year				5 Years				Since Inception6
	6-Month Total Returns		w/o sales charge		w/sales charge		w/o sales charge		w/sales charge		w/o sales charge		w/sales charge
Institutional	9.14	%	9.02	%	N/A		0.18	%	N/A		0.43	%	N/A
Investor A	8.96		8.83		3.12	%	(0.07	)	(1.15	)%	0.19		(0.81	)%
Investor B	8.65		8.01		3.51		(0.84	)	(1.22	)	(0.58	)	(0.76	)
Investor C	8.48		7.97		6.97		(0.82	)	(0.82	)	(0.56	)	(0.56	)
Russell 1000 Value Index	6.48		8.95		N/A		(0.13	)	N/A		0.16		N/A

5	Assuming maximum sales charges, if any. Average annual total returns with and without sales charges reflect reductions for distribution and service fees. See “About Fund Performance” on page 14 for a detailed description of share classes, including any related sales charges and fees.
6	The Fund commenced operations on July 27, 2005.
	N/A — Not applicable as share class and index do not have a sales charge.
	Past performance is not indicative of future results.

FDP SERIES, INC. NOVEMBER 30, 2010 9

Fund Summary as of November 30, 2010	Franklin Templeton Total Return FDP Fund
Portfolio Management Commentary

	How did the Fund perform?
•	The Fund outperformed its benchmark, the Barclays Capital US Aggregate Bond Index, for the six-month period ended November 30, 2010.
	What factors influenced performance?
•	The Fund derived positive performance from most sectors in which it held investments during the period. The Fund’s overweight relative to the benchmark in non-investment grade debt contributed positively as credit spreads tightened over the period. The Fund also benefited from its overweight exposure to commercial mortgage-backed securities (“CMBS”), which delivered strong returns. Additionally, the Fund’s exposure to foreign bonds and currencies, including emerging market debt, had a positive impact.
•	Conversely, the Fund’s underweight in agency debentures and mortgage-backed securities detracted from relative performance as these sectors performed well during the period.
	Describe recent portfolio activity.
•	During the six-month period, we increased the Fund’s exposure to international bonds and currencies, as well as US Treasuries. We increased exposure to senior secured floating rate loans based on attractive corporate fundamentals and technical factors within the sector, and the possibility of rising interest rates and stronger investor demand in the intermediate term. We also increased the Fund’s allocation to municipal bonds, including Build America Bonds. We reduced the Fund’s allocation to high yield corporate bonds as credit spreads had generally tightened and further volatility among European banks and sovereign debt was anticipated. We also decreased exposure to some investment-grade corporate bonds, which based on our analysis, had become more fairly valued after a period of strong returns.
	Describe Fund positioning at period end.
•	As of the period end, we continue to believe that many of the best opportunities in global bond markets are outside the United States. Accordingly, the Fund remains overweight relative to the benchmark in a variety of international bonds and currencies. Although we reduced exposure to high yield corporate bonds during the period, the Fund remains overweight in other credit sectors, including CMBS, asset-backed securities and international bonds. Within securitized sectors, the Fund’s holdings remain concentrated among high quality securities, including CMBS, that are senior in the capital structure and benefit from strong levels of credit protection.

The views expressed reflect the opinions of the sub-advisor as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

10 FDP SERIES, INC. NOVEMBER 30, 2010

Total Return Based on a $10,000 Investment

1	Assuming maximum sales charges, transaction costs and other operating expenses, including advisory fees, if any. Institutional Shares do not have a sales charge.
2	Franklin Templeton Total Return FDP Fund invests, under normal market conditions, at least 80% of its assets in investment grade debt securities and investments.
3	This unmanaged market-weighted index is comprised of investment grade corporate bonds (rated BBB or better), mortgages and US Treasury and government agency issues with at least one year to maturity.
4	Commencement of operations.

Performance Summary for the Period Ended November 30, 2010

					Average Annual Total Returns5
					1 Year				5 Years				Since Inception6
	Standardized 30-Day Yields		6-Month Total Returns		w/o sales charge		w/sales charge		w/o sales charge		w/sales charge		w/o sales charge		w/sales charge
Institutional	2.89	%	7.02	%	9.95	%	N/A		6.08	%	N/A		5.54	%	N/A
Investor A	2.54		6.88		9.68		5.29	%	5.84		4.98	%	5.30		4.50	%
Investor B	2.12		6.60		9.10		5.10		5.28		4.95		4.75		4.59
Investor C	2.09		6.59		9.08		8.08		5.24		5.24		4.71		4.71
Barclays Capital US Aggregate Bond Index	—		3.85		6.02		N/A		6.23		N/A		5.79		N/A

5	Assuming maximum sales charges, if any. Average annual total returns with and without sales charges reflect reductions for distribution and service fees. See “About Fund Performance” on page 14 for a detailed description of share classes, including any related sales charges and fees.
6	The Fund commenced operations on July 27, 2005.
	N/A — Not applicable as share class and index do not have a sales charge.
	Past performance is not indicative of future results.

FDP SERIES, INC. NOVEMBER 30, 2010 11

Portfolio Information as of November 30, 2010

Ten Largest Holdings

MFS Research International FDP Fund	Percent of Long-Term Investments
Nestlé SA, Registered Shares		3	%
HSBC Holdings Plc		3
Royal Dutch Shell Plc		3
BHP Billiton Plc		2
LVMH Moët Hennessy Louis Vuitton SA		2
Roche Holding AG		2
Vodafone Group Plc		2
Siemens AG		2
BNP Paribas SA		2
Hutchison Whampoa Ltd.		2
Marsico Growth FDP Fund	Percent of Long-Term Investments
Apple, Inc.		7	%
Union Pacific Corp.		5
Amazon.com, Inc.		5
Dow Chemical Co.		5
McDonald’s Corp		4
Nike, Inc., Class B		4
Monsanto Co.		4
BHP Billiton Plc — ADR		4
Praxair, Inc.		4
Baidu.com, Inc. — ADR		4
Van Kampen Value FDP Fund	Percent of Long-Term Investments
Comcast Corp., Class A		5	%
Viacom, Inc., Class B		4
International Paper Co.		3
JPMorgan Chase & Co.		3
Chubb Corp.		3
eBay, Inc.		3
Pfizer, Inc.		3
Kraft Foods, Inc.		3
Halliburton Co.		3
Bristol-Myers Squibb Co.		2

Geographic Allocation

MFS Research International FDP Fund	Percent of Long-Term Investments
Japan		17	%
United Kingdom		17
France		10
Switzerland		10
Germany		9
Netherlands		5
Hong Kong		5
China		3
Australia		3
Brazil		3
India		2
Taiwan		2
United States		2
Canada		2
Other1		10

¹ Other includes a 1% holding in each of the following countries: Spain, Singapore, Portugal, Finland, South Korea, Sweden, Czech Republic, Mexico, Austria and Italy.

12 FDP SERIES, INC. NOVEMBER 30, 2010

Portfolio Information as of November 30, 2010 (concluded)

Sector Allocation

MFS Research International FDP Fund	Percent of Long-Term Investments
Financials		24	%
Industrials		14
Consumer Staples		10
Materials		10
Health Care		8
Consumer Discretionary		8
Energy		8
Information Technology		7
Telecommunication Services		6
Utilities		5
Marsico Growth FDP Fund	Percent of Long-Term Investments
Consumer Discretionary		28	%
Materials		19
Information Technology		19
Industrials		15
Financials		9
Energy		6
Consumer Staples		2
Telecommunication Services		2
Van Kampen Value FDP Fund	Percent of Long-Term Investments
Financials		19	%
Consumer Discretionary		18
Health Care		13
Information Technology		11
Energy		11
Consumer Staples		10
Industrials		7
Materials		5
Telecommunication Services		4
Utilities		2

For Fund compliance purposes, each Fund’s sector classifications refer to any one or more of the sector sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine sector sub-classifications for reporting ease.

Portfolio Composition

Franklin Templeton Total Return FDP Fund	Percent of Long-Term Investments
U.S. Government Sponsored Agency Securities		25	%
Corporate Bonds		22
U.S. Treasury Obligations		17
Foreign Agency Obligations		14
Non-Agency Mortgage-Backed Securities		7
Floating Rate Loan Interests		5
Taxable Municipal Bonds		4
Preferred Securities		3
Asset-Backed Securities		3
Common Stocks		—

Credit Quality Allocations¹

Franklin Templeton Total Return FDP Fund	Percent of Long-Term Investments
AAA/Aaa2		60	%
AA/Aa		5
A		10
BBB/Baa		16
BB/Ba		4
B		3
CCC/Caa		1
Not Rated		1

1	Using the higher of Standard & Poor’s or Moody’s Investors Service ratings.
2	Includes U.S. Government Sponsored Agency Obligations and U.S. Treasury Obligations, which are deemed AAA/Aaa by the investment advisor.

FDP SERIES, INC. NOVEMBER 30, 2010 13

About Fund Performance

	Shares are only available for purchase through the FDP Service.
•	Institutional Shares are not subject to any sales charge. Institutional Shares bear no ongoing distribution or service fees and are available only to eligible investors.
•	Investor A Shares (for all Funds except Franklin Templeton Total Return FDP Fund) incur a maximum initial sales charge (front-end load) of 5.25% and a service fee of 0.25% per year (but no distribution fee). Franklin Templeton Total Return FDP Fund incurs a maximum initial sales charge (front-end load) of 4% and a service fee of 0.25% per year (but no distribution fee).
•	Investor B Shares (for all Funds except Franklin Templeton Total Return FDP Fund) are subject to a maximum contingent deferred sales charge of 4.50% declining to 0% after six years. In addition, these Investor B Shares are subject to a distribution fee of 0.75% per year and a service fee of 0.25% per year. These shares automatically convert to Investor A Shares after approximately eight years. (There is no initial sales charge for automatic share conversions.) Franklin Templeton Total Return FDP Fund is subject to a maximum contingent deferred sales charge of 4% declining to 0% after six years. In addition, its Investor B Shares are subject to a distribution fee of 0.50% per year and a service fee of 0.25% per year. These shares automatically convert to Investor A Shares after approximately 10 years. (There is no initial sales charge for automatic share conversions.) Investor B Shares of the Funds are only available through exchanges and dividend reinvestments by existing shareholders or for purchase by certain qualified employee benefit plans.
•	Investor C Shares (for all Funds except Franklin Templeton Total Return FDP Fund) are subject to a distribution fee of 0.75% per year and a service fee of 0.25% per year. Franklin Templeton Total Return FDP Fund is subject to a distribution fee of 0.55% per year and a service fee of 0.25% per year. In addition, Investor C Shares for all Funds are subject to a 1% contingent deferred sales charge if redeemed within one year of purchase.
	Performance information reflects past performance and does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Refer to www.blackrock.com/funds to obtain performance data current to the most recent month-end. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The MFS Research International FDP Fund may charge a 2% redemption fee for sales or exchanges of shares within 30 days of purchase or exchange. Performance data does not reflect this potential fee. Figures shown in the performance tables on the previous pages assume reinvestment of all dividends and capital gain distributions, if any, at net asset value on the ex-dividend date. Investment return and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Dividends paid to each class of shares will vary because of the different levels of service, distribution and transfer agency fees applicable to each class, which are deducted from the income available to be paid to shareholders. The Funds’ investment advisor waived a portion of its fees. Without such waiver, the Funds’ performance would have been lower.

14 FDP SERIES, INC. NOVEMBER 30, 2010

Disclosure of Expenses

Shareholders of these Funds may incur the following charges: (a) expenses related to transactions, including sales charges, redemption fees and exchange fees; and (b) operating expenses including advisory fees, distribution fees including 12b-1 fees and other Fund expenses. The expense examples below (which are based on a hypothetical investment of $1,000 invested on June 1, 2010 and held through November 30, 2010) are intended to assist shareholders both in calculating expenses based on an investment in these Funds and in comparing these expenses with similar costs of investing in other mutual funds.

The tables provide information about actual account values and actual expenses. In order to estimate the expenses a shareholder paid during the period covered by this report, shareholders can divide their account value by $1,000 and then multiply the result by the number corresponding to their share class under the heading entitled “Expenses Paid During the Period.”

The tables also provide information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses. In order to assist shareholders in comparing the ongoing expenses of investing in these Funds and other funds, compare the 5% hypothetical example with the 5% hypothetical examples that appear in other funds’ shareholder reports.

The expenses shown in the tables are intended to highlight shareholders’ ongoing costs only and do not reflect any transactional expenses, such as sales charges, redemption fees or exchange fees. Therefore, the hypothetical examples are useful in comparing ongoing expenses only, and will not help shareholders determine the relative total expenses of owning different funds. If these transactional expenses were included, shareholder expenses would have been higher.

Expense Example

	Actual			Hypothetical2
MFS Research International FDP Fund	Beginning Account Value June 1, 2010	Ending Account Value November 30, 2010	Expenses Paid During the Period1	Beginning Account Value June 1, 2010	Ending Account Value November 30, 2010	Expenses Paid During the Period1	Annualized Expense Ratio
Institutional	$1,000.00	$1,160.70	$  7.15	$1,000.00	$1,018.48	$  6.68	1.32%
Investor A	$1,000.00	$1,161.00	$  8.45	$1,000.00	$1,017.28	$  7.89	1.56%
Investor B	$1,000.00	$1,155.60	$12.75	$1,000.00	$1,013.27	$11.91	2.36%
Investor C	$1,000.00	$1,155.30	$12.53	$1,000.00	$1,013.47	$11.71	2.32%
Marsico Growth FDP Fund
Institutional	$1,000.00	$1,014.78	$  6.25	$1,000.00	$1,019.28	$  5.87	1.16%
Investor A	$1,000.00	$1,014.53	$  7.53	$1,000.00	$1,018.08	$  7.08	1.40%
Investor B	$1,000.00	$1,014.15	$11.86	$1,000.00	$1,014.02	$11.16	2.21%
Investor C	$1,000.00	$1,014.24	$11.60	$1,000.00	$1,014.27	$10.91	2.16%
Van Kampen Value FDP Fund
Institutional	$1,000.00	$1,091.40	$  5.56	$1,000.00	$1,019.79	$  5.37	1.06%
Investor A	$1,000.00	$1,089.60	$  6.71	$1,000.00	$1,018.68	$  6.48	1.28%
Investor B	$1,000.00	$1,086.50	$10.93	$1,000.00	$1,014.62	$10.56	2.09%
Investor C	$1,000.00	$1,084.80	$10.66	$1,000.00	$1,014.87	$10.30	2.04%
Franklin Templeton Total Return FDP Fund
Institutional	$1,000.00	$1,070.20	$  3.79	$1,000.00	$1,021.44	$  3.70	0.73%
Investor A	$1,000.00	$1,068.80	$  5.08	$1,000.00	$1,020.19	$  4.96	0.98%
Investor B	$1,000.00	$1,066.60	$  7.87	$1,000.00	$1,017.48	$  7.69	1.52%
Investor C	$1,000.00	$1,065.90	$  7.98	$1,000.00	$1,017.38	$  7.79	1.54%

1	For each class of each Fund, expenses are equal to the annualized expense ratio for the class, multiplied by the average account value over the period, multiplied by 183/365 (to reflect the one-half year period shown).
2	Hypothetical 5% annual return before expenses is calculated by pro rating the number of days in the most recent fiscal half year divided by 365.

FDP SERIES, INC. NOVEMBER 30, 2010 15

The Benefits and Risks of Leveraging

Franklin Templeton Total Return FDP Fund (the “Fund”) may utilize leverage to seek to enhance its yield and net asset value (“NAV”). However, these objectives cannot be achieved in all interest rate environments.

The Fund may utilize leverage through entering into dollar rolls. In general, the concept of leveraging is based on the premise that the cost of assets to be obtained through leverage will be based on short-term interest rates, which normally will be lower than the income earned by the Fund on its longer-term portfolio investments. To the extent that the total assets of the Fund (including the assets obtained from leverage) are invested in higher-yielding portfolio investments, the Fund’s shareholders will benefit from the incremental net income.

Furthermore, the value of the Fund’s investments generally varies inversely with the direction of long-term interest rates, although other factors can influence the value of portfolio investments. Changes in interest rates can influence the Fund’s NAV positively or negatively in addition to the impact on the Fund’s performance from leverage.

The use of leverage may enhance opportunities for increased net income to the Fund and shareholders but as described above, it also creates risks as short- or long-term interest rates fluctuate. Leverage also will generally cause greater changes in the Fund’s NAV and dividend rate than a comparable portfolio without leverage. If the income derived from securities purchased with assets received from leverage exceeds the cost of leverage, the Fund’s net income will be greater than if leverage had not been used. Conversely, if the income from the securities purchased is not sufficient to cover the cost of leverage, the Fund’s net income will be less than if leverage had not been used, and therefore the amount available for distribution to shareholders will be reduced. The Fund may be required to sell portfolio securities at inopportune times or at distressed values in order to comply with regulatory requirements applicable to the use of leverage or as required by the terms of leverage instruments which may cause the Fund to incur losses. The use of leverage may limit the Fund’s ability to invest in certain types of securities or use certain types of hedging strategies. The Fund will incur expenses in connection with the use of leverage, all of which are borne by Fund shareholders and may reduce investment returns.

Derivative Financial Instruments

The Funds may invest in various derivative instruments, including financial futures contracts, foreign currency exchange contracts and swaps, as specified in Note 2 of the Notes to Financial Statements, which may constitute forms of economic leverage. Such instruments are used to obtain exposure to a market without owning or taking physical custody of securities or to hedge market, credit, interest and/or foreign currency exchange rate risks. Such derivative instruments involve risks, including the imperfect correlation between the value of a derivative instrument and the underlying asset, possible default of the counterparty to the transaction or illiquidity of the derivative instrument. A Fund’s ability to successfully use a derivative instrument depends on the investment advisor’s ability to accurately predict pertinent market movements, which cannot be assured. The use of derivative instruments may result in losses greater than if they had not been used, may require a Fund to sell or purchase portfolio securities at inopportune times or for distressed values, may limit the amount of appreciation a Fund can realize on an investment or may cause a Fund to hold a security that it might otherwise sell. The Funds’ investments in these instruments are discussed in detail in the Notes to Financial Statements.

16 FDP SERIES, INC. NOVEMBER 30, 2010

Schedule of Investments November 30, 2010 (Unaudited)	MFS Research International FDP Fund
	(Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Australia — 3.1%
Commonwealth Bank of Australia Ltd.		30,785	$	1,421,503
Iluka Resources Ltd. (a)		140,252		1,012,808
Newcrest Mining Ltd.		24,510		927,813
Nufarm Ltd. (a)		116,878		509,218
				3,871,342
Austria — 0.6%
Erste Bank der Oesterreichischen Sparkassen AG		17,488		683,128
Belgium — 0.3%
KBC Bancassurance Holding (a)		11,317		396,062
Bermuda — 0.4%
Hiscox Ltd.		88,422		477,673
Brazil — 2.8%
BM&F Bovespa SA		87,300		664,449
Banco Santander Brasil SA — ADR		89,300		1,165,365
Diagnosticos da America SA		47,800		613,321
Tractebel Energia SA		37,230		588,002
Vivo Participacoes SA — ADR		15,880		458,456
				3,489,593
Canada — 1.8%
Bankers Petroleum Ltd. (a)		63,218		408,295
Teck Resources Ltd., Class B		35,316		1,754,877
				2,163,172
China — 3.4%
Bank of China Ltd.		1,652,000		881,844
China Construction Bank, Class H		1,270,000		1,143,185
China Pacific Insurance Group Co. Ltd.		196,800		780,406
China Petroleum & Chemical Corp.		952,000		883,898
China Unicom Ltd.		378,000		508,738
				4,198,071
Czech Republic — 0.7%
CEZ AS		14,613		571,390
Komercni Banka AS		1,437		302,771
				874,161
Finland — 1.0%
Fortum Oyj		24,518		646,793
Kone Oyj, Class B		3,573		186,963
Outotec OYJ		7,964		391,727
				1,225,483
France — 9.6%
BNP Paribas SA		39,459		2,333,985
Dassault Systemes SA		8,359		571,313
Groupe Danone		31,669		1,853,031
LVMH Moët Hennessy Louis Vuitton SA		16,816		2,546,977
Legrand Promesses		8,359		319,175
Publicis Groupe		20,662		923,098

Common Stocks	Shares		Value
France (concluded)
Sanofi-Aventis		25,817	$	1,564,999
Schneider Electric SA		12,272		1,720,036
				11,832,614
Germany — 9.4%
Bayer AG		17,813		1,290,423
Bayerische Motoren Werke AG		21,979		1,649,639
Deutsche Boerse AG		14,271		862,138
Linde AG		14,154		1,973,987
MAN SE		17,257		2,019,546
Rhoen-Klinikum AG		49,030		1,029,737
Siemens AG		22,112		2,410,130
Symrise AG		17,289		434,173
				11,669,773
Hong Kong — 4.8%
BOC Hong Kong Holdings Ltd.		187,000		641,542
Cheung Kong Infrastructure Holdings Ltd.		77,000		343,675
Esprit Holdings Ltd.		194,938		938,287
Hong Kong Exchanges and Clearing Ltd.		22,000		502,184
Hutchison Whampoa Ltd.		208,000		2,076,045
Li & Fung Ltd.		108,000		672,717
Sinotruk Hong Kong Ltd.		280,000		295,036
Sun Hung Kai Properties Ltd.		30,000		493,928
				5,963,414
India — 2.1%
BEML Ltd.		14,625		313,543
HDFC Bank Ltd.		6,790		1,197,417
ICICI Bank Ltd.		41,424		1,027,899
				2,538,859
Indonesia — 0.2%
XL Axiata Tbk PT (a)		424,000		262,759
Israel — 0.3%
Cellcom Israel Ltd.		11,270		375,855
Italy — 0.5%
Telecom Italia SpA		296,768		365,190
Telecom Italia SpA, Non-Convertible Savings Shares		297,310		310,741
				675,931
Japan — 17.1%
Aeon Credit Service Co., Ltd.		63,800		823,295
Chugoku Marine Paints Ltd.		18,000		133,235
Denso Corp.		36,300		1,181,502
East Japan Railway Co.		19,500		1,164,236
GLORY Ltd.		40,900		969,735
Inpex Corp.		196		1,006,163

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedules of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

ADR	American Depositary Receipts
AGM	Assured Guaranty Municipal Corp.
AGC	Assured Guaranty Corp.
AUD	Australian Dollar
BRL	Brazilian Real
CLP	Chilean Peso
COP	Certificates of Participation
CZK	Czech Republic Koruna
EUR	Euro
GBP	British Pound
GO	General Obligation Bonds
IDR	Indonesian Rupiah
ILS	Israeli Shekel
INR	Indian Rupee
JPY	Japanese Yen
KRW	South Korean Won
MSCI	Morgan Stanley Capital International
MXN	Mexican Nuevo Peso
MYR	Malaysian Ringgit
NOK	Norwegian Krone
NZD	New Zealand Dollar
PEN	Peru Nuevos Soles
PHP	Philippine Peso
PLN	Polish Zloty
Q-SBLF	Qualified School Bond Loan Fund
RB	Revenue Bonds
SEK	Swedish Krona
SGD	Singapore Dollar
USD	US Dollar

See Notes to Financial Statements.
FDP SERIES, INC.	NOVEMBER 30, 2010	17

Schedule of Investments (continued)	MFS Research International FDP Fund
	(Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Japan (concluded)
JGC Corp.		57,000	$	1,101,066
Japan Tobacco, Inc.		260		884,000
KDDI Corp.		152		867,275
Konica Minolta Holdings, Inc.		180,500		1,856,515
Lawson, Inc.		30,500		1,351,074
Miraca Holdings, Inc.		28,800		1,022,971
Mitsubishi Corp.		49,800		1,257,245
Nippon Paint Co. Ltd.		18,000		133,612
Nomura Holdings, Inc.		117,300		676,459
Nomura Research Institute Ltd.		30,800		619,607
Ricoh Co., Ltd.		56,000		786,524
Santen Pharmaceutical Co., Ltd.		28,000		963,279
Sumitomo Mitsui Financial Group, Inc.		47,300		1,452,524
Tokyo Gas Co., Ltd.		348,000		1,517,688
Yamato Transport Co., Ltd.		102,700		1,295,548
				21,063,553
Mexico — 0.5%
Kimberly-Clark de Mexico, SA de CV		62,350		382,305
Urbi Desarollos Urbanos SAB, SA de CV (a)		114,790		263,058
				645,363
Netherlands — 5.3%
Akzo Nobel NV		33,390		1,796,605
Heineken NV		30,326		1,402,982
ING Groep NV CVA (a)		171,100		1,509,034
Koninklijke KPN NV		103,111		1,470,155
SNS Reaal (a)		106,761		427,489
				6,606,265
Portugal — 1.2%
Energias de Portugal SA		448,163		1,430,664
Singapore — 1.4%
Keppel Corp. Ltd.		154,000		1,242,495
United Overseas Bank Ltd.		37,000		518,520
				1,761,015
South Korea — 1.0%
Samsung Electronics Co., Ltd.		1,709		1,216,218
Spain — 1.5%
Inditex SA		16,290		1,228,670
Red Electrica de Espana		12,927		565,025
				1,793,695
Sweden — 0.7%
Telefonaktiebolaget LM Ericsson		86,344		891,188
Switzerland — 9.6%
Credit Suisse Group AG		37,397		1,382,723
Geberit AG		3,105		626,765
Julius Baer Group Ltd.		14,332		543,649
Nestlé SA, Registered Shares		70,744		3,843,482
Roche Holding AG		18,047		2,474,859
Schindler Holding AG		1,700		191,927
Sonova Holding AG		4,905		613,256
Swiss Reinsurance Co., Registered Shares		28,101		1,297,748
Synthes, Inc.		6,990		855,679
				11,830,088
Taiwan — 1.8%
Acer, Inc.		609,725		1,796,266
Taiwan Semiconductor Manufacturing Co., Ltd.		212,439		440,212
				2,236,478

Common Stocks	Shares		Value
United Kingdom — 16.8%
Aberdeen Asset Management Plc		235,641	$	656,275
Amlin Plc		38,272		223,963
BG Group Plc		77,359		1,398,598
BHP Billiton Plc		75,770		2,692,386
BP Plc		275,895		1,841,596
Barclays Plc		311,515		1,251,583
HSBC Holdings Plc		350,473		3,546,610
Reckitt Benckiser Plc		27,182		1,440,794
Royal Dutch Shell Plc		106,702		3,215,799
Tesco Plc		181,135		1,168,721
Vodafone Group Plc		979,809		2,444,526
WPP Plc		78,842		873,726
				20,754,577
United States — 1.8%
Cognizant Technology Solutions Corp. (a)		10,470		680,340
Monsanto Co.		6,480		388,282
Schlumberger Ltd.		14,320		1,107,509
				2,176,131
Total Common Stocks — 99.7%				123,103,125

Rights
China — 0.0%
China Construction Bank Corp. (Expires 12/08/10) (a)	90,160	30,537
Total Rights — 0.0%		30,537
Total Long-Term Investments (Cost — $106,540,482) — 99.7%		123,133,662

Short-Term Securities		Par (000)
Commercial Paper — 0.6%
BNP Paribas Finance, Inc., 0.23%, 12/01/10 (b)	USD		740		740,000
Time Deposits
Japan — 0.0%
Brown Brothers Harriman & Co., 0.01%, 12/01/10	JPY		1,834		21,916
United States — 0.2%
Brown Brothers Harriman & Co., 0.12%, 12/01/10	USD		201		201,341
Total Time Deposits — 0.2%					223,257
Total Short-Term Securities (Cost — $963,257) — 0.8%					963,257
Total Investments (Cost — $107,503,739*) — 100.5%					124,096,919
Liabilities in Excess of Other Assets — (0.5)%					(566,561	)
Net Assets — 100.0%				$	123,530,358

* The cost and unrealized appreciation (depreciation) of investments as of November 30, 2010, as computed for federal income tax purposes, were as follows:

Aggregate cost	$	111,803,799
Gross unrealized appreciation	$	20,270,871
Gross unrealized depreciation		(7,977,751	)
Net unrealized appreciation	$	12,293,120

(a)	Non-income producing security.
(b)	Rate shown is the discount rate paid at the time of purchase.

See Notes to Financial Statements.
18	FDP SERIES, INC.	NOVEMBER 30, 2010

Schedule of Investments (concluded) MFS Research International FDP Fund

• Foreign currency exchange contracts as of November 30,2010 were as follows:

Currency Purchased		Currency Sold			Counterparty		Settlement Date		Unrealized Appreciation (Depreciation)
EUR	30,073		USD	39,799		Citibank, NA		12/01/10	$	(763	)
SGD	240,138		USD	182,022		Credit Suisse Securities		12/01/10		(148	)
SGD	240,984		USD	182,383		UBS AG		12/02/10		132
USD	9,096		JPY	766,506		Brown Brothers Harriman & Co		12/02/10		(63	)
USD	12,669		JPY	1,067,640		Brown Brothers Harriman & Co		12/02/10		(88	)
CZK	5,889,039		USD	307,862		HSBC Securities		12/03/10		(1,494	)
SGD	74,083		USD	55,924		Barclays Capital		12/03/10		185
Total									$	(2,239	)

• Fair Value Measurements — Various inputs are used in determining the fair value of investments and derivatives, which are as follows:

• Level 1 — price quotations in active markets/exchanges for identical assets and liabilities

• Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

• Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments and derivatives)

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and derivatives and other significant accounting policies, please refer to Note 1 of the Notes to Financial Statements.

The following tables summarize the inputs used as of November 30, 2010 in determining the fair valuation of the Fund’s investments and derivatives:

Valuation Inputs	Level 1		Level 2		Level 3		Total
Assets:
Investments in Securities:
Long-Term
Investments:
Common Stocks:
Australia		—	$	3,871,342		—	$	3,871,342
Austria		—		683,128		—		683,128
Belgium		—		396,062		—		396,062
Bermuda		—		477,673		—		477,673
Brazil	$	3,489,593		—		—		3,489,593
Canada		2,163,172		—		—		2,163,172
China		—		4,198,071		—		4,198,071
Czech Republic		—		874,161		—		874,161
Finland		—		1,225,483		—		1,225,483
France		—		11,832,614		—		11,832,614
Germany		—		11,669,773		—		11,669,773
Hong Kong		—		5,963,414		—		5,963,414
India		1,197,417		1,341,442		—		2,538,859
Indonesia		—		262,759		—		262,759
Israel		375,855		—		—		375,855
Italy		—		675,931		—		675,931
Japan		—		21,063,553		—		21,063,553
Mexico		645,363		—		—		645,363
Netherlands		—		6,606,265		—		6,606,265
Portugal		—		1,430,664		—		1,430,664
Singapore		—		1,761,015		—		1,761,015
South Korea		—		1,216,218		—		1,216,218
Spain		—		1,793,695		—		1,793,695
Sweden		—		891,188		—		891,188
Switzerland		—		11,830,088		—		11,830,088
Taiwan		—		2,236,478		—		2,236,478
United Kingdom		—		20,754,577		—		20,754,577
United States		2,176,131		—		—		2,176,131
Rights:
China				30,537		—		30,537
Short-Term Securities:
Commercial Paper		—		740,000		—		740,000
Time Deposits		—		223,257		—		223,257
Total	$	10,047,531	$	114,049,388		—	$	124,096,919

	Derivative Financial Instruments1
Valuation Inputs		Level 1		Level 2		Level 3		Total
Assets:
Foreign currency exchange contracts		—	$	317		—	$	317
Liabilities:
Foreign currency exchange contracts		—		(2,556	)	—		(2,556	)
Total		—	$	(2,239	)	—	$	(2,239	)

¹ Derivative financial instruments are foreign currency exchange contracts. Foreign currency exchange contracts are shown at the unrealized appreciation/depreciation on the instrument.

See Notes to Financial Statements.
FDP SERIES, INC.	NOVEMBER 30, 2010	19

Schedule of Investments November 30, 2010 (Unaudited)	Marsico Growth FDP Fund
	(Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Aerospace & Defense — 4.1%
General Dynamics Corp.		41,693	$	2,755,490
Precision Castparts Corp.		12,936		1,786,074
				4,541,564
Air Freight & Logistics — 1.4%
FedEx Corp.		17,226		1,569,633
Automobiles — 1.2%
Ford Motor Co. (a)		84,517		1,347,201
Capital Markets — 2.9%
Goldman Sachs Group, Inc.		20,354		3,178,074
Chemicals — 14.2%
Dow Chemical Co.		160,629		5,008,412
Monsanto Co.		67,928		4,070,246
PPG Industries, Inc.		36,205		2,822,542
Praxair, Inc.		41,693		3,837,840
				15,739,040
Commercial Banks — 5.5%
U.S. Bancorp		152,231		3,620,053
Wells Fargo & Co.		90,162		2,453,308
				6,073,361
Computers & Peripherals — 6.8%
Apple, Inc. (a)		24,161		7,517,695
Energy Equipment & Services — 0.8%
Halliburton Co.		23,169		876,715
Food Products — 0.9%
Mead Johnson Nutrition Co.		16,400		976,948
Hotels, Restaurants & Leisure — 8.0%
McDonald’s Corp.		61,124		4,786,009
Wynn Resorts Ltd.		18,460		1,866,306
Yum! Brands, Inc.		45,816		2,294,466
				8,946,781
Household Durables — 0.5%
Whirlpool Corp.		7,749		565,677
Internet & Catalog Retail — 7.0%
Amazon.com, Inc. (a)		28,708		5,035,383
Priceline.com, Inc. (a)		7,101		2,798,149
				7,833,532
Internet Software & Services — 3.4%
Baidu.com, Inc. — ADR (a)		36,211		3,809,035
Machinery — 4.1%
Cummins, Inc.		14,508		1,409,017
Danaher Corp.		44,564		1,927,393
Eaton Corp.		13,096		1,262,454
				4,598,864
Media — 1.2%
DIRECTV, Class A (a)		31,043		1,289,216
Metals & Mining — 4.3%
BHP Billiton Plc — ADR		55,061		3,918,141
Freeport-McMoRan Copper & Gold, Inc., Class B		8,564		867,704
				4,785,845
Multiline Retail — 1.4%
Nordstrom, Inc.		36,979		1,582,701
Oil, Gas & Consumable Fuels — 5.1%
Anadarko Petroleum Corp.		54,640		3,505,702
EOG Resources, Inc.		23,725		2,110,339
				5,616,041
Common Stocks	Shares		Value
Personal Products — 1.1%
Estée Lauder Cos., Inc., Class A		16,970	$	1,271,392
Road & Rail — 4.6%
Union Pacific Corp.		57,056		5,141,316
Semiconductors & Semiconductor Equipment — 2.2%
Broadcom Corp., Class A		55,490		2,468,750
Software — 5.5%
Oracle Corp.		125,017		3,380,460
Salesforce.com, Inc. (a)		19,599		2,728,573
				6,109,033
Specialty Retail — 4.0%
TJX Cos., Inc.		48,488		2,211,538
Tiffany & Co.		35,544		2,207,282
				4,418,820
Textiles, Apparel & Luxury Goods — 4.0%
Nike, Inc., Class B		51,296		4,418,125
Wireless Telecommunication Services — 1.6%
American Tower Corp., Class A (a)		27,129		1,371,914
Crown Castle International Corp. (a)		10,765		447,178
				1,819,092
Total Common Stocks — 95.8%				106,494,451
Preferred Stocks
Commercial Banks — 0.4%
Wells Fargo & Co., 8.00%		17,400		465,102
Total Preferred Stocks — 0.4%				465,102
Total Long-Term Investments (Cost — $78,841,920) — 96.2%				106,959,553
Short-Term Securities	Par (000)
Time Deposits — 4.1%
Brown Brothers Harriman & Co., 0.12%, 12/01/10	$	4,556		4,556,172
Total Short-Term Securities (Cost — $4,556,172) — 4.1.%				4,556,172
Total Investments (Cost — $83,398,092*) — 100.3%				111,515,725
Liabilities in Excess of Other Assets — (0.3)%				(362,511	)
Net Assets — 100.0%			$	111,153,214

* The cost and unrealized appreciation (depreciation) of investments as of November 30, 2010, as computed for federal income tax purposes were as follows:

Aggregate cost	$	85,241,615
Gross unrealized appreciation	$	27,011,743
Gross unrealized depreciation		(737,633	)
Net unrealized appreciation	$	26,274,110

(a) Non-income producing security.

See Notes to Financial Statements.
20	FDP SERIES, INC.	NOVEMBER 30, 2010

Schedule of Investments (concluded) Marsico Growth FDP Fund

•	For Fund compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry classifications for reporting ease.
•	Fair Value Measurements — Various inputs are used in determining the fair value of investments, which are as follows:
	•	Level 1 — price quotations in active markets/exchanges for identical assets and liabilities
	•	Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)
	•	Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments)
		The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to Note 1 of the Notes to Financial Statements.
	The following table summarizes the inputs used as of November 30, 2010 in determining the fair valuation of the Fund’s investments:

Valuation Inputs	Level 1		Level 2		Level 3		Total
Assets:
Investments in Securities:
Long-Term Investments1	$	106,959,553		—		—	$	106,959,553
Short-Term Securities		—	$	4,556,172		—		4,556,172
Total	$	106,959,553	$	4,556,172		—	$	111,515,725

¹ See above Schedule of Investments for values in each industry.

See Notes to Financial Statements.
FDP SERIES, INC.	NOVEMBER 30, 2010	21

Schedule of Investments November 30, 2010 (Unaudited)	Van Kampen Value FDP Fund
	(Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Aerospace & Defense — 1.3%
Honeywell International, Inc.		27,103	$	1,347,290
Automobiles — 0.7%
General Motors Co. (a)		22,406		766,285
Beverages — 1.5%
Coca-Cola Co.		19,718		1,245,586
PepsiCo, Inc.		4,984		322,116
				1,567,702
Capital Markets — 4.2%
Bank of New York Mellon Corp.		76,999		2,078,203
Goldman Sachs Group, Inc.		6,793		1,060,659
Morgan Stanley		30,140		737,224
State Street Corp.		10,358		447,466
				4,323,552
Chemicals — 0.5%
E.I. du Pont de Nemours & Co.		11,258		529,013
Commercial Banks — 1.9%
PNC Financial Services Group, Inc. (b)		500		26,925
U.S. Bancorp		30,293		720,368
Wells Fargo & Co.		44,449		1,209,457
				1,956,750
Communications Equipment — 0.9%
Cisco Systems, Inc. (a)		45,830		878,103
Computers & Peripherals — 2.4%
Dell, Inc. (a)		84,831		1,121,466
Hewlett-Packard Co.		33,062		1,386,290
				2,507,756
Diversified Financial Services — 5.7%
Bank of America Corp.		138,664		1,518,371
Citigroup, Inc. (a)		344,504		1,446,917
JPMorgan Chase & Co.		78,193		2,922,854
				5,888,142
Diversified Telecommunication Services — 3.0%
AT&T Inc.		50,716		1,409,398
Verizon Communications, Inc.		54,044		1,729,948
				3,139,346
Electric Utilities — 1.2%
American Electric Power Co., Inc.		13,485		480,066
FirstEnergy Corp.		20,885		733,272
				1,213,338
Electrical Equipment — 0.8%
Emerson Electric Co.		15,733		866,416
Energy Equipment & Services — 3.9%
Halliburton Co.		66,101		2,501,262
Noble Corp.		11,053		374,918
Weatherford International Ltd. (a)		57,022		1,163,819
				4,039,999
Food & Staples Retailing — 3.2%
CVS Caremark Corp.		49,027		1,519,837
Wal-Mart Stores, Inc.		32,358		1,750,244
				3,270,081
Food Products — 3.9%
Kraft Foods, Inc.		83,552		2,527,448
Unilever NV — ADR		55,348		1,570,776
				4,098,224

Common Stocks	Shares		Value
Health Care Providers & Services — 3.9%
Cardinal Health, Inc.		41,150	$	1,464,117
UnitedHealth Group, Inc.		52,575		1,920,039
WellPoint, Inc. (a)		12,801		713,528
				4,097,684
Household Products — 0.3%
Procter & Gamble Co.		5,218		318,663
Industrial Conglomerates — 3.3%
General Electric Co.		82,964		1,313,320
Textron, Inc.		31,109		695,597
Tyco International Ltd.		36,938		1,399,581
				3,408,498
Insurance — 6.1%
Aflac, Inc.		10,358		533,437
Chubb Corp.		50,682		2,889,381
MetLife, Inc.		35,179		1,342,079
Travelers Cos., Inc.		29,605		1,598,374
				6,363,271
Internet Software & Services — 4.5%
eBay, Inc. (a)		99,124		2,887,482
Yahoo! Inc. (a)		111,563		1,759,349
				4,646,831
IT Services — 0.9%
Accenture Plc		13,974		605,354
Western Union Co.		18,396		324,505
				929,859
Machinery — 1.3%
Ingersoll-Rand Plc		31,867		1,306,547
Media — 13.8%
Comcast Corp., Class A		253,460		5,069,200
DIRECTV, Class A (a)		16,893		701,566
News Corp., Class B		92,743		1,412,476
Time Warner Cable, Inc.		27,671		1,702,873
Time Warner, Inc.		52,199		1,539,349
Viacom, Inc., Class B		103,460		3,913,892
				14,339,356
Metals & Mining — 1.7%
Alcoa, Inc.		131,405		1,724,034
Multi-Utilities — 0.3%
Sempra Energy		6,449		323,030
Multiline Retail — 1.3%
JCPenney Co., Inc.		16,349		543,931
Macy’s, Inc.		15,535		398,939
Target Corp.		7,915		450,680
				1,393,550
Oil, Gas & Consumable Fuels — 6.2%
BP Plc — ADR		22,743		909,720
Chevron Corp.		25,602		2,072,994
ConocoPhillips		17,937		1,079,269
Royal Dutch Shell Plc — ADR		26,363		1,599,443
Total SA — ADR		14,888		726,088
				6,387,514
Paper & Forest Products — 2.9%
International Paper Co.		119,910		2,994,153
Personal Products — 0.5%
Avon Products, Inc.		18,557		529,988

See Notes to Financial Statements.
22	FDP SERIES, INC.	NOVEMBER 30, 2010

Schedule of Investments (concluded)	Van Kampen Value FDP Fund
	(Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Pharmaceuticals — 8.5%
Abbott Laboratories		16,447	$	764,950
Bristol-Myers Squibb Co.		84,095		2,122,558
GlaxoSmithKline Plc — ADR		16,008		612,786
Merck & Co, Inc.		57,086		1,967,754
Pfizer, Inc.		164,830		2,685,081
Roche Holding AG — ADR		18,957		652,500
				8,805,629
Semiconductors & Semiconductor Equipment — 1.7%
Intel Corp.		60,472		1,277,169
KLA-Tencor Corp.		14,268		523,207
				1,800,376
Software — 0.4%
Microsoft Corp.		16,583		418,057
Specialty Retail — 1.8%
Home Depot, Inc.		29,413		888,567
Lowe’s Cos., Inc.		42,117		956,056
				1,844,623
Tobacco — 0.4%
Philip Morris International, Inc.		7,935		451,422
Wireless Telecommunication Services — 0.9%
Vodafone Group Plc — ADR		38,892		974,634
Total Long-Term Investments (Cost — $90,923,686) — 95.8%				99,449,716

Short-Term Securities	Par (000)		Value
Time Deposit — 4.2%
Brown Brothers Harriman & Co., 0.12%, 12/01/10	$	4,351	$	4,350,697
Total Short-Term Securities (Cost — $4,350,697) — 4.2%				4,350,697
Total Investments (Cost — $95,274,383*) — 100.0%				103,800,413
Other Assets Less Liabilities — 0.0%				35,184
Net Assets — 100.0%			$	103,835,597

* The cost and unrealized appreciation (depreciation) of investments as of November 30, 2010, as computed for federal income tax purposes were as follows:

Aggregate cost	$	97,068,675
Gross unrealized appreciation	$	12,972,791
Gross unrealized depreciation		(6,241,053	)
Net unrealized appreciation	$	6,731,738

(a)	Non-income producing security.
(b)	Investments in companies considered to be an affiliate of the Fund during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliate	Shares Held at May 31, 2010		Shares Purchased		Shares Sold		Shares Held at November 30, 2010		Value at November 30, 2010		Realized Gain (Loss)		Income
PNC Financial Services Group, Inc.		500		—		—		500	$	26,925		—	$	100

•	Fair Value Measurements — Various inputs are used in determining the fair value of investments, which are as follows:
	•	Level 1 — price quotations in active markets/exchanges for identical assets and liabilities
	•	Level 2 — other observable inputs (including,but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)
	•	Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments)
	The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to Note 1 of the Notes to Financial Statements.
	The following table summarizes the inputs used as of November 30, 2010 in determining the fair valuation of the Fund’s investments:

Valuation Inputs	Level 1		Level 2		Level 3		Total
Assets:
Investments in Securities:
Long-Term Investments1	$	99,449,716		—		—	$	99,449,716
Short-Term Securities		—	$	4,350,697		—		4,350,697
Total	$	99,449,716	$	4,350,697		—	$	103,800,413

¹ See above Schedule of Investments for values in each industry.

See Notes to Financial Statements.
FDP SERIES, INC.	NOVEMBER 30, 2010	23

Schedule of Investments November 30, 2010 (Unaudited)	Franklin Templeton Total Return FDP Fund
	(Percentages shown are based on Net Assets)

Asset-Backed Securities (a)	Par (000)		Value
Ameriquest Mortgage Securities, Inc., Series 2005-R9, Class A2B, 0.48%, 11/25/35	USD	367	$	342,184
Capital One Auto Finance Trust, Series 2006-C, Class A4, 0.28%, 5/15/13		354		351,997
Chase Funding Mortgage Loan Asset-Backed Certificates, Series 2004-2, Class 2A2, 0.75%, 2/25/35		295		223,864
Chase Issuance Trust, Series 2007-A9, Class A, 0.28%, 6/16/14		2,200		2,194,062
CitiFinancial Mortgage Securities, Inc., Series 2003-4, Class AF6, 4.49%, 10/25/33		467		465,961
Countrywide Asset-Backed Certificates, Series 2005-11, Class AF4, 5.21%, 3/25/34		700		459,207
Residential Asset Securities Corp., Series 2005-AHL2, Class A2, 0.51%, 10/25/35		178		170,544
Securitized Asset-Backed Receivables LLC Trust, Series 2006-FR2, Class A2, 0.40%, 3/25/36		423		401,394
Structured Asset Securities Corp., Series 2005-SC1, Class 1A1, 0.52%, 5/25/31 (b)		488		271,184
Total Asset-Backed Securities — 3.0%				4,880,397
Common Stocks (c)	Shares
Media — 0.0%
Charter Communications, Inc.		532		17,833
Dex One Corp.		2,135		10,141
Total Common Stocks — 0.0%				27,974
Corporate Bonds	Par (000)
Air Freight & Logistics — 0.1%
CEVA Group Plc, 11.50%, 4/01/18 (b)	USD	100		108,942
Capital Markets — 1.8%
Credit Suisse, 4.38%, 8/05/20		500		495,591
The Goldman Sachs Group, Inc., 6.75%, 10/01/37		500		501,791
KKR Group Finance Co., 6.38%, 9/29/20 (b)		200		203,333
Lazard Group LLC, 6.85%, 6/15/17		500		530,985
Merrill Lynch & Co., Inc., 6.88%, 4/25/18		700		769,085
Morgan Stanley:
6.00%, 4/28/15		300		326,625
5.50%, 1/26/20		100		100,750
				2,928,160
Chemicals — 0.2%
Ineos Group Holdings Plc, 8.50%, 2/15/16 (b)		100		86,750
RPM International, Inc., 6.25%, 12/15/13		50		55,370
RPM United Kingdom G.P., 6.70%, 11/01/15 (b)		200		224,706
				366,826
Commercial Banks — 1.6%
Discover Bank, 8.70%, 11/18/19		400		478,030
HSBC Holdings Plc, 6.50%, 9/15/37		400		412,454
HSBC USA, Inc., 5.00%, 9/27/20		300		291,119
HSBK Europe BV, 7.25%, 5/03/17		400		396,000
Regions Financial Corp., 7.75%, 11/10/14		200		195,000
Royal Bank of Scotland Group Plc, 6.40%, 10/21/19		500		503,485
SVB Financial Group, 5.38%, 9/15/20		300		299,638
				2,575,726
Corporate Bonds	Par (000)		Value
Commercial Services & Supplies — 0.1%
Diversey Holdings, Inc., 10.50%, 5/15/20	USD	105	$	120,604
RSC Equipment Rental, Inc., 9.50%, 12/01/14		100		103,000
				223,604
Consumer Finance — 0.8%
American Express Credit Corp., 5.38%, 10/01/14	GBP	400		654,308
Ford Motor Credit Co. LLC:
7.50%, 8/01/12	USD	200		211,854
7.00%, 4/15/15		100		105,692
6.63%, 8/15/17		150		154,608
8.13%, 1/15/20		100		114,754
				1,241,216
Containers & Packaging — 0.1%
Solo Cup Co., 8.50%, 2/15/14		100		88,750
Diversified Financial Services — 1.5%
Ally Financial Inc.:
6.88%, 9/15/11		150		153,562
6.88%, 8/28/12		200		206,500
8.00%, 12/31/18		100		101,000
Citigroup, Inc., 5.00%, 9/15/14		400		411,421
General Electric Capital Corp., Series G, 6.00%, 8/07/19		500		552,554
JPMorgan Chase & Co., 4.25%, 10/15/20		700		684,648
Moody’s Corp., 5.50%, 9/01/20		400		405,840
				2,515,525
Diversified Telecommunication Services — 0.9%
Frontier Communications Corp.:
8.25%, 4/15/17		100		110,000
8.50%, 4/15/20		100		110,000
Telecom Italia Capital SA:
4.95%, 9/30/14		250		261,374
7.00%, 6/04/18		500		556,442
Verizon New York, Inc.:
Series A, 6.88%, 4/01/12		300		321,479
Series B, 7.38%, 4/01/32		100		116,356
				1,475,651
Electric Utilities — 0.1%
Georgia Power Co., 5.40%, 6/01/40		100		103,709
Energy Equipment & Services — 0.5%
Cie Générale de Géophysique-Veritas, 9.50%, 5/15/16		100		108,500
Weatherford International Ltd., 7.00%, 3/15/38		600		645,270
				753,770
Food & Staples Retailing — 0.9%
CVS Caremark Corp., 5.75%, 6/01/17		300		342,728
The Kroger Co., 6.15%, 1/15/20		500		580,593
Rite Aid Corp.:
9.75%, 6/12/16		100		107,375
8.00%, 8/15/20 (b)		100		103,000
Woolworths Ltd., 4.00%, 9/22/20 (b)		300		301,316
				1,435,012
Food Products — 1.5%
Bunge Ltd. Finance Corp.:
5.88%, 5/15/13		300		322,865
5.10%, 7/15/15		400		420,957
Corn Products International, Inc., 4.63%, 11/01/20		300		309,965
JBS USA LLC, 11.63%, 5/01/14 (b)		150		174,000
Kraft Foods, Inc., 5.38%, 2/10/20		800		890,979
Ralcorp Holdings, Inc., 4.95%, 8/15/20		200		206,993
Wm. Wrigley Jr. Co., 3.05%, 6/28/13 (b)		200		205,296
				2,531,055

See Notes to Financial Statements.
24	FDP SERIES, INC.	NOVEMBER 30, 2010

Schedule of Investments (continued)	Franklin Templeton Total Return FDP Fund
	(Percentages shown are based on Net Assets)

Corporate Bonds	Par (000)		Value
Health Care Equipment & Supplies — 0.2%
Boston Scientific Corp., 6.00%, 1/15/20	USD	300	$	323,782
Health Care Providers & Services — 1.3%
Coventry Health Care, Inc., 6.30%, 8/15/14		750		792,642
HCA, Inc.:
9.63%, 11/15/16 (d)		250		267,187
7.25%, 9/15/20		150		157,313
Medco Health Solutions, Inc., 7.13%, 3/15/18		800		973,475
				2,190,617
Hotels, Restaurants & Leisure — 0.8%
Harrah’s Operating Co., Inc., 11.25%, 6/01/17		300		327,000
MGM Mirage, 6.63%, 7/15/15		200		173,000
NCL Corp. Ltd., 11.75%, 11/15/16		150		169,875
Pinnacle Entertainment, Inc., 7.50%, 6/15/15		150		147,937
Royal Caribbean Cruises Ltd., 7.25%, 6/15/16		200		217,000
Starwood Hotels & Resorts Worldwide, Inc., 7.15%, 12/01/19		200		221,000
Station Casinos, Inc. (c)(e):
6.88%, 3/01/16		150		60
7.75%, 8/15/16		100		20
Universal City Development Partners Ltd., 10.88%, 11/15/16		100		108,500
				1,364,392
Household Durables — 0.1%
Jarden Corp., 7.50%, 5/01/17		150		157,125
IT Services — 0.2%
Verifone Holdings, Inc., 1.38%, 6/15/12 (b)(f)		285		295,331
Independent Power Producers & Energy Traders — 0.3%
Dynegy Holdings, Inc., 8.38%, 5/01/16		100		73,000
NRG Energy, Inc.:
7.25%, 2/01/14		200		204,000
7.38%, 2/01/16		100		100,500
Texas Competitive Electric Holdings Co. LLC:
10.25%, 11/01/15		100		59,500
15.00%, 4/01/21 (b)		142		130,640
				567,640
Industrial Conglomerates — 0.0%
Hutchison Whampoa International (03/33) Ltd., 7.45%, 11/24/33 (b)		50		61,993
Insurance — 0.3%
Aflac, Inc., 8.50%, 5/15/19		100		125,898
PRICOA Global Funding I, 5.45%, 6/11/14 (b)		300		333,990
				459,888
Machinery — 0.2%
Case New Holland, Inc., 7.88%, 12/01/17 (b)		200		220,500
RBS Global, Inc., 8.50%, 5/01/18		200		205,000
				425,500
Media — 2.1%
CCH II LLC, 13.50%, 11/30/16		147		172,528
CCO Holdings LLC, 8.13%, 4/30/20 (b)		100		105,000
DIRECTV Holdings LLC, 4.60%, 2/15/21		200		200,715
Intelsat Bermuda Ltd., 11.25%, 6/15/16		250		267,187
Lamar Media Corp., 9.75%, 4/01/14		150		171,375
Myriad International Holding BV, 6.38%, 7/28/17 (b)		100		103,460
News America, Inc., 7.25%, 5/18/18		400		493,124
Time Warner Cable, Inc., 6.75%, 7/01/18		700		831,033
Time Warner, Inc., 6.10%, 7/15/40		200		210,948
Corporate Bonds	Par (000)		Value
Media (concluded)
UPC Germany GmbH, 9.63%, 12/01/19 (b)	EUR	100	$	137,593
Viacom, Inc., 6.13%, 10/05/17	USD	500		581,331
WMG Acquisition Corp., 9.50%, 6/15/16		150		156,375
				3,430,669
Metals & Mining — 0.4%
Cliffs Natural Resources, Inc., 4.80%, 10/01/20		200		199,672
Novelis, Inc., 7.25%, 2/15/15		100		102,875
Teck Resources Ltd., 4.50%, 1/15/21		300		311,735
				614,282
Multi-Utilities — 0.8%
CenterPoint Energy, Inc., 6.50%, 5/01/18		300		342,617
CenterPoint Energy Resources Corp., 6.13%, 11/01/17		200		229,396
Dominion Resources, Inc., 6.40%, 6/15/18		600		721,164
				1,293,177
Oil, Gas & Consumable Fuels — 3.8%
Antero Resources Finance Corp., 9.38%, 12/01/17		100		103,000
Canadian Natural Resources, Ltd., 5.90%, 2/01/18		500		583,153
Chesapeake Energy Corp., 6.63%, 8/15/20		200		201,500
Consol Energy, Inc. (b):
8.00%, 4/01/17		100		107,500
8.25%, 4/01/20		100		108,250
ENI SpA, 4.15%, 10/01/20 (b)		300		303,248
Enogex LLC, 6.25%, 3/15/20 (b)		400		441,185
Enterprise Products Operating LLC:
5.20%, 9/01/20		100		106,277
7.03%, 1/15/68 (a)		200		207,250
Gaz Capital for Gazprom, 6.21%, 11/22/16 (b)		500		522,500
MarkWest Energy Partners LP, 6.75%, 11/01/20		100		99,750
OPTI Canada, Inc., 9.00%, 12/15/12 (b)		100		99,500
Peabody Energy Corp., 6.50%, 9/15/20		100		108,000
Petroleos de Venezuela SA, 13.65%, 7/10/11 (g)		1,300		1,222,000
SandRidge Energy, Inc.:
9.88%, 5/15/16 (b)		150		155,250
8.75%, 1/15/20		100		101,000
Valero Energy Corp., 9.38%, 3/15/19		800		1,012,028
Woodside Finance Ltd., 4.50%, 11/10/14 (b)		600		641,152
				6,122,543
Paper & Forest Products — 0.1%
NewPage Corp., 11.38%, 12/31/14		100		90,500
Real Estate Investment Trusts (REITs) — 0.9%
Boston Properties LP, 5.63%, 11/15/20		100		109,055
ERP Operating LP, 5.75%, 6/15/17		500		558,769
HCP, Inc., 6.70%, 1/30/18		500		551,769
KimCo Realty Corp., 6.88%, 10/01/19		200		232,164
				1,451,757
Real Estate Management & Development — 0.1%
Forest City Enterprises, Inc., 7.63%, 6/01/15		100		93,250
Semiconductors & Semiconductor Equipment — 0.1%
Freescale Semiconductor, Inc., 10.75%, 8/01/20 (b)		200		198,500
Specialty Retail — 0.1%
Michaels Stores, Inc., 7.75%, 11/01/18 (b)		100		97,250
Tobacco — 0.7%
Altria Group, Inc., 9.70%, 11/10/18		500		672,371
Reynolds American, Inc., 7.63%, 6/01/16		350		415,996
				1,088,367

See Notes to Financial Statements.
FDP SERIES, INC.	NOVEMBER 30, 2010	25

Schedule of Investments (continued)	Franklin Templeton Total Return FDP Fund
	(Percentages shown are based on Net Assets)

Corporate Bonds	Par (000)		Value
Trading Companies & Distributors — 0.1%
United Rentals North America, Inc., 8.38%, 9/15/20	USD	100	$	98,750
Transportation Infrastructure — 0.2%
DP World Ltd., 6.85%, 7/02/37 (b)		380		340,360
Wireless Telecommunication Services — 0.2%
Digicel Group Ltd. (b):
8.88%, 1/15/15		100		101,000
8.25%, 9/01/17		100		105,000
MetroPCS Wireless, Inc., 7.88%, 9/01/18		100		103,625
				309,625
Total Corporate Bonds — 23.1%				37,423,244
Floating Rate Loan Interests (a)
Aerospace & Defense — 0.0%
BE Aerospace, Term Loan B, 5.75%, 7/28/14		30		29,919
TransDigm, Inc., Term Loan B, 2.25% – 2.29%, 6/23/13		40		39,271
				69,190
Chemicals — 0.3%
Celanese US Holdings LLC:
Dollar Term Loan, 3.29%, 4/02/14		160		158,911
Term Loan C, 3.29%, 10/31/16		36		36,587
Nalco Co.:
Term Loan B1, 4.50%, 10/06/17		97		97,335
Term Loan C1, 2.00% – 2.04%%, 5/13/16		57		56,539
Rockwood Specialties Group, Inc., Term Loan H, 6.00%, 5/15/14		124		124,438
				473,810
Commercial Services & Supplies — 0.4%
ARAMARK Corp.:
Extend Term Loan B, 3.54%, 7/26/16		213		212,310
Extended Synthetic Letter of Credit Facility, 1.98%, 1/26/14		3		2,562
Line of Credit, 3.36%, 7/26/16		14		13,963
Term Loan B, 2.16%, 1/26/14		32		31,807
Diversey, Inc. (FKA Johnson Diversey, Inc.), Term Loan B, 5.50%, 11/24/15		262		263,141
Interactive Data Corp., Term Loan B, 6.75%, 1/29/17		128		129,889
				653,672
Diversified Consumer Services — 0.4%
Education Management LLC, Term Loan C, 2.06%, 6/01/13		296		287,540
Visant Corp. (FKA Jostens), Term Loan B, 7.00%, 12/22/16		410		413,431
				700,971
Diversified Financial Services — 0.3%
MSCI, Inc., Term Loan, 4.75%, 6/01/16		127		127,862
TransUnion Corp., Term Loan B, 6.75%, 6/15/17		347		351,022
				478,884
Floating Rate Loan Interests (a)	Par (000)		Value
Diversified Telecommunications Services — 0.4%
Intelsat Corporation (Panamsat):
Incremental Term Loan B-2-A, 2.79%, 1/03/14	USD	38	$	37,638
Incremental Term Loan B-2-B, 2.79, 1/03/14		38		37,627
Incremental Term Loan B-2-C, 2.79%, 1/03/14		38		37,627
Tranche B-2-A Term Loan, 2.79%, 1/03/14		128		125,343
Tranche B-2-B Term Loan, 2.79%, 1/03/14		128		125,344
Tranche B-2-C Term Loan, 2.79%, 1/03/14		128		125,382
Windstream Corp., Tranche B-2 Term Loan, 3.03% – 3.04%, 12/17/15		128		127,922
				616,883
Electronic Equipment, Instruments & Components — 0.1%
Flextronics International Ltd.:
A Closing Date Loan, 2.50%, 10/01/14		106		104,004
Delayed Draw Term Loan A-1-A, 2.50%, 10/01/14		4		3,482
Delayed Draw Term Loan A-1-B, 2.50%, 10/01/14		10		10,076
Delayed Draw Term Loan A-3, 2.50%, 10/01/14		14		14,093
				131,655
Food & Staples Retailing — 0.2%
SUPERVALU, Inc.:
Term Loan B, 1.52% – 1.54%, 6/02/12		28		27,342
Term Loan B2, 3.02% – 3.04%, 10/15/15		355		349,158
				376,500
Food Products — 0.1%
Dean Foods Co., 2016 Tranche B Term Loan, 3.29%, 4/02/16		118		116,732
Michael Foods, Term Loan B, 6.25%, 6/21/16		34		34,238
				150,970
Health Care Providers & Services — 1.1%
CHS/Community Health Systems, Inc.:
Delayed Draw Term Loan, 2.55%, 7/25/14		21		20,199
Extend Term Loan, 2.55%, 1/25/17		20		19,528
Term Loan, 2.55%, 7/25/14		405		400,621
DaVita, Inc., Term Loan B, 4.50%, 10/20/16		196		196,096
HCA, Inc.:
Term Loan A-1, 1.54%, 11/17/12		83		81,026
Term Loan B-1, 2.54%, 11/18/13		34		33,343
Tranche B-2 Term Loan, 3.54%, 3/31/17		384		379,168
Universal Health Services, Inc., Tranche B Term Loan, 5.50%, 11/15/16		612		617,755
				1,747,736
Hotels, Restaurants & Leisure — 0.5%
Burger King Corp., Tranche B Term Loan, 6.25%, 10/06/16		480		485,898
DineEquity, Inc., Term Facility, 6.00%, 10/07/17		122		123,934
Penn National Gaming, Inc., Term Loan B, 2.00% – 2.04%, 10/03/12		204		202,832
				812,664
Household Durables — 0.1%
Jarden Corp.:
Term Loan B1, 2.04%, 1/24/12		60		60,134
Term Loan B4, 3.54%, 1/26/15		66		66,183
				126,317

See Notes to Financial Statements.
26	FDP SERIES, INC.	NOVEMBER 30, 2010

Schedule of Investments (continued)	Franklin Templeton Total Return FDP Fund
	(Percentages shown are based on Net Assets)

Floating Rate Loan Interests (a)	Par (000)			Value
IT Services — 0.2%
Fidelity National Information Services, Inc., Term Loan B, 5.25%, 7/18/16	USD	137		$	138,461
SunGard Data Systems, Inc. (Solar Capital Corp.), Tranche B US Term Loan, 3.90% – 3.91%, 2/28/16		133			131,563
					270,024
Independent Power Producers & Energy Traders — 0.1%
NRG Energy, Inc.:
Credit-Linked Deposit, 2.04%, 2/01/13		57			56,129
Term Loan, 2.04%, 2/01/13		68			66,951
					123,080
Industrial Conglomerates — 0.1%
Tomkins Plc, Term Loan B, 6.75%, 9/21/16		150			152,117
Machinery — 0.2%
RBS Global, Inc. (Rexnord):
Incremental Tranche B-2, 2.56%, 7/19/13		2			1,562
Tranche B-1, Term Loan, 2.81%, 7/19/13		364			356,684
					358,246
Media — 0.5%
CSC Holdings, Inc. (Cablevision):
Incremental Term Loan B-2, 2.00%, 3/29/16		481			478,781
Incremental Term Loan B-3, 2.00%, 3/29/16		55			54,706
Cinemark, Extend Term Loan, 3.51% – 3.55%, 4/30/16		110			110,149
Regal Cinemas Corp., Term Loan, 3.79%, 11/17/16		126			126,684
UPC Financing Partnership, Term Loan T, 4.25%, 12/31/16		100			98,162
					868,482
Multiline Retail — 0.1%
Dollar General Corp., Tranche B-1 Term Loan, 3.01% – 3.04%, 7/07/14		132			131,676
Paper & Forest Products — 0.1%
Georgia-Pacific LLC:
Term Loan B, 2.29%, 12/20/12		88			87,863
Term Loan C, 3.54%, 12/23/14		55			55,022
					142,885
Pharmaceuticals — 0.4%
Mylan Inc., Term Loan B, 3.56%, 10/02/14		21			20,980
Warner Chilcott Co. LLC, Term Loan B-4, 6.50%, 2/20/16		152			153,778
WC Luxco Sarl, Term B-3, 6.50%, 2/20/16		469			473,321
					648,079
Total Floating Rate Loan Interests — 5.6%					9,033,841
Foreign Agency Obligations
Australia Government Bond, Series 123, 5.75%, 4/15/12	AUD	970			940,732
Brazil Notas do Tesouro Nacional, Series F, 10.00%, 1/01/17	BRL	2,800	(h)		1,479,688
Emirate of Abu Dhabi, 6.75%, 4/08/19 (b)	USD	100			118,294
Export-Import Bank of Korea, 8.13%, 1/21/14		195			225,595
Hungary Government International Bond, 3.88%, 2/24/20	EUR	40			43,744
Foreign Agency Obligations	Par (000)			Value
Indonesia Treasury Bond:
12.80%, 6/15/21	IDR	2,610,000		$	393,640
12.90%, 6/15/22		4,900,000			737,618
10.00%, 9/15/24		1,750,000			218,219
Series FR31, 11.00%, 11/15/20		900,000			123,474
Series FR47, 10.00%, 2/15/28		5,970,000			728,461
Israel Government Bond Shahar, Series 2680, 7.00%, 4/29/11	ILS	800			221,814
Korea Treasury Bond:
Series 1106, 5.50%, 6/10/11	KRW	111,900			97,919
Series 1112, 4.75%, 12/10/11		1,097,310			964,294
Series 1206, 4.00%, 6/10/12		2,877,500			2,517,572
Series 1209, 5.25%, 9/10/12		340,000			303,969
Series 1212, 4.25%, 12/10/12		660,000			581,059
Series 1303, 5.25%, 3/10/13		9,900			8,919
Lithuania Government International Bond, 7.38%, 2/11/20 (b)	USD	310			345,650
Malaysia Government Bond:
3.76%, 4/28/11	MYR	685			217,241
3.83%, 9/28/11		3,870			1,232,131
Series 0309, 2.71%, 2/14/12		10			3,150
Series 2/03, 4.24%, 2/07/18		2,250			737,324
Mexican Bonos:
Series M, 9.00%, 6/20/13	MXN	830	(i)		72,233
Series M 20, 10.00%, 12/05/24		7,500	(i)		763,847
Series M 30, 10.00%, 11/20/36		3,120	(i)		312,637
New South Wales Treasury Corp.:
6.00%, 5/01/12	AUD	1,670			1,619,450
Series 17RG, 5.50%, 3/01/17		425			403,722
Peru Government Bond, 7.84%, 8/12/20	PEN	615			246,934
Poland Government Bond:
Series 0412, 4.75%, 4/25/12	PLN	2,765			893,499
Series 0414, 5.75%, 4/25/14		1,810			593,307
Series 1013, 5.00%, 10/24/13		305			98,281
Poland Government International Bond, 6.38%, 7/15/19	USD	340			377,457
Qatar Government International Bond, 6.55%, 4/09/19 (b)		100			117,250
Queensland Treasury Corp.:
6.00%, 6/14/11	AUD	560			540,054
7.13%, 9/18/17 (b)	NZD	35			28,277
Series 13, 6.00%, 8/14/13	AUD	70			68,436
Series 17, 6.00%, 9/14/17		145			141,444
Republic of Argentina, 0.65%, 8/03/12 (a)	USD	90			82,949
Republic of Ghana, 8.50%, 10/04/17		100			113,625
Republic of Hungary:
3.50%, 7/18/16	EUR	20			22,299
4.38%, 7/04/17		45			53,156
5.75%, 6/11/18		95			119,615
6.25%, 1/29/20	USD	150			146,068
Republic of Korea, 7.13%, 4/16/19		130			159,424
Republic of Lithuania, 6.75%, 1/15/15 (b)		130			140,603
Russia Government International Bond, 7.50%, 3/31/30 (b)		340			391,965
Russian Foreign Bond Eurobond, 7.50%, 3/31/30		537			618,248
Socialist Republic of Vietnam, 6.75%, 1/29/20 (b)		320			356,709
South Africa Government International Bond, 5.88%, 5/30/22		700			777,000
Sweden Government Bond, Series 1045, 5.25%, 3/15/11	SEK	17,260			2,481,193
Venezuela Government International Bond, 10.75%, 9/19/13	USD	80			73,000
Western Australia Treasury Corp., Series 12, 5.50%, 7/17/12	AUD	85			81,863
Total Foreign Agency Obligations — 14.9%					24,135,052

See Notes to Financial Statements.
FDP SERIES, INC.	NOVEMBER 30, 2010	27

Schedule of Investments (continued)	Franklin Templeton Total Return FDP Fund
	(Percentages shown are based on Net Assets)

Non-Agency Mortgage-Backed Securities		Par (000)		Value
Collateralized Mortgage Obligations — 0.7%
Bear Stearns Alt-A Trust, Series 2004-13, Class A2, 0.69%, 11/25/34 (a)	USD		159	$	116,217
Countrywide Home Loan Mortgage Pass-Through Trust, Series 2004-J8, Class 3A3, 5.50%, 12/25/34			205		205,964
Homebanc Mortgage Trust, Series 2005-4, Class A1, 0.52%, 10/25/35 (a)			273		206,814
Wells Fargo Mortgage-Backed Securities Trust:
Series 2004-W, Class A9, 2.76%, 11/25/34 (a)			293		276,575
Series 2007-3, Class 3A1, 5.50%, 4/25/37			352		363,997
					1,169,567
Commercial Mortgage-Backed Securities — 6.8%
Banc of America Commercial Mortgage, Inc., Class AM:
Series 2006-3, 6.07%, 7/10/44 (a)			1,000		945,955
Series 2006-4, 5.68%, 7/10/46			500		509,405
Banc of America Large Loan, Inc., Series 2010-HLTN, Class HLTN, 2.00%, 11/15/15 (a)(b)			500		446,388
Bear Stearns Commercial Mortgage Securities (a):
Series 2006-T24, Class AM, 5.57%, 10/12/41			500		495,822
Series 2006-T24, Class B, 5.66%, 10/12/41 (b)			148		96,283
Citigroup Commercial Mortgage Trust (a):
Series 2007-C6, Class AM, 5.70%, 12/10/49			146		140,036
Series 2007-FL3A, Class A1, 0.32%, 4/15/22 (b)			221		208,930
Credit Suisse Mortgage Capital Certificates, Series 2006-TF2A, Class A2, 0.42%, 10/15/21 (a)(b)			214		190,488
GMAC Commercial Mortgage Securities, Inc., Series 2005-C1, Class B, 4.94%, 5/10/43			750		560,511
GS Mortgage Securities Corp. II, Series 2006-GG6, Class A4, 5.55%, 4/10/38 (a)			2,519		2,692,672
Greenwich Capital Commercial Funding Corp. (a):
Series 2005-GG5, Class A5, 5.22%, 4/10/37			710		752,647
Series 2005-GG5, Class B, 5.36%, 4/10/37			350		262,815
Series 2007-GG9, Class C, 5.55%, 3/10/39			1,600		840,599
JPMorgan Chase Commercial Mortgage Securities Corp.:
Series 2006-CB14, Class AM, 5.44%, 12/12/44 (a)			400		397,984
Series 2006-CB17, Class AM, 5.46%, 12/12/43			300		287,665
LB-UBS Commercial Mortgage Trust, Class A4:
Series 2005-C5, 4.95%, 9/15/30			670		723,736
Series 2006-C3, 5.66%, 3/15/39 (a)			850		923,046
Wachovia Bank Commercial Mortgage Trust, Series 2007-WHL8, Class A1, 0.33%, 6/15/20 (a)(b)			482		438,607
					10,913,589
Total Non-Agency Mortgage-Backed Securities — 7.5%					12,083,156
Preferred Securities
Capital Trusts		Par (000)		Value
Commercial Banks — 1.6%
BNP Paribas, 7.20%, (a)(b)(j)	USD		600	$	592,500
Fifth Third Capital Trust IV, 6.50%, 4/15/67 (a)			500		465,000
Wachovia Capital Trust III, 5.80%, (a)(j)			750		630,000
Wells Fargo Capital XIII, Series GMTN, 7.70%, (a)(j)			300		309,750
Wells Fargo Capital XV, 9.75%, (a)(j)			550		612,562
					2,609,812
Consumer Finance — 0.1%
Capital One Capital VI, 8.88%, 5/15/40			100		104,500
Diversified Financial Services — 1.0%
Bank of America Corp., Series M, 8.13%, (a)(j)			400		399,640
JPMorgan Chase & Co., 7.90%, (a)(j)			575		611,743
JPMorgan Chase Capital XXII, 6.45%, 1/15/87			700		690,888
					1,702,271
Insurance — 0.3%
MetLife, Inc., 6.40%, 12/15/66			600		570,000
Total Capital Trusts — 3.0%					4,986,583
Preferred Stocks		Shares
Automobiles — 0.1%
General Motors Corp., Series C, 6.25% (c)			6,500		48,756
Diversified Financial Services — 0.0%
Ally Financial Inc., 7.00% (b)			40		35,713
Total Preferred Stocks — 0.1%					84,469
Total Preferred Securities — 3.1%					5,071,052
Taxable Municipal Bonds		Par (000)
California State Judgment Trust, COP, 1.74%, 6/01/15 (a)	USD		250		226,155
City & County of San Francisco California, GO, Build America Bonds, 5.93%, 6/15/28			500		561,645
City of Tulare California, RB, Build America Bonds (AGM), 8.75%, 11/15/44			125		129,135
Detroit City School District, GO, Qualified School Construction Bonds (Q-SBLF), 6.65%, 5/01/29			800		800,360
Indianapolis Local Public Improvement Bond Bank, Refunding RB, Waterworks Project, Series A (AGC), 5.50%, 1/01/38			50		52,974
Los Angeles Community College District California, GO, Build America Bonds, 6.75%, 8/01/49			750		785,557
Los Angeles County Public Works Financing Authority, RB, Build America Bonds, Recovery, Series Z, 7.49%, 8/01/33			530		539,111
New York City Industrial Development Agency, 11.00%, 3/01/29 (b)			100		129,162
New York City Municipal Water Finance Authority, RB, Second General Resolution, 6.28%, 6/15/42			630		639,910
New York State Dormitory Authority, RB, Build America Bonds, 5.50%, 3/15/30			630		641,567

See Notes to Financial Statements.
28	FDP SERIES, INC.	NOVEMBER 30, 2010

Schedule of Investments (continued)	Franklin Templeton Total Return FDP Fund
	(Percentages shown are based on Net Assets)

Taxable Municipal Bonds		Par (000)		Value
State of California, GO:
Build America Bonds, 7.60%, 11/01/40 (k)	USD		550	$	567,858
Various Purpose, 6.00%, 3/01/33			1,000		1,067,160
Various Purpose, 6.00%, 4/01/38			500		522,955
State of Illinois, GO, Build America Bonds, 7.35%, 7/01/35			290		294,617
State of Oregon, GO, Refunding, Build America Bonds, 5.38%, 8/01/39			640		641,011
Total Taxable Municipal Bonds — 4.7%					7,599,177
U.S. Government Sponsored Agency Securities
Agency Obligations — 2.7%
Fannie Mae, 5.38%, 6/12/17			1,000		1,183,485
Freddie Mac:
2.88%, 2/09/15			2,000		2,123,322
6.25%, 7/15/32			800		1,025,281
					4,332,088
Collateralized Mortgage Obligations — 1.4%
Fannie Mae Mortgage-Backed Securities, Series 2007-1, Class NF, 0.50%, 2/25/37 (a)			1,191		1,187,282
Freddie Mac Mortgage-Backed Securities:
Series 2643, Class OG, 5.00%, 7/15/32			1,000		1,097,688
Series 2942, Class TF, 0.60%, 3/15/35 (a)			57		56,524
					2,341,494
Mortgage-Backed Securities — 22.6%
Fannie Mae Mortgage-Backed Securities:
1.67%, 5/01/33 (a)			14		14,874
2.02%, 10/01/32 (a)			157		161,754
2.31%, 4/01/35 (a)			22		22,313
2.35%, 4/01/35 (a)			303		312,781
2.96%, 9/01/34 (a)			604		618,032
4.00%, 12/15/40 (l)			3,050		3,097,180
4.50%, 12/15/40 (l)			3,015		3,138,428
5.00%, 8/01/35 – 12/15/40 (l)			3,217		3,415,120
5.50%, 12/15/25 – 3/01/36 (l)			6,532		7,113,136
6.00%, 6/01/21 – 12/15/40 (l)			4,063		4,444,497
6.50%, 1/01/36			325		363,165
Freddie Mac Mortgage-Backed Securities:
2.71%, 4/01/32 (a)			92		96,648
2.86%, 9/01/32 (a)			19		19,496
2.91%, 11/01/27 (a)			325		334,903
4.00%, 12/15/40 (l)			1,500		1,520,157
4.50%, 9/01/20 – 12/15/40 (l)			2,692		2,798,773
5.00%, 7/01/23 – 12/15/40 (l)			5,196		5,493,989
5.50%, 11/01/37			32	��	34,367
6.00%, 10/01/21 – 12/15/40 (l)			2,439		2,649,191
6.50%, 9/01/38			150		165,786
Ginnie Mae Mortgage-Backed Securities, 6.50%, 12/20/37 – 7/15/38			666		748,376
					36,562,966
Total U.S. Government Sponsored Agency Securities — 26.7%					43,236,548
U.S. Treasury Obligations		Par (000)		Value
U.S. Treasury Bonds:
5.38%, 2/15/31	USD		300	$	366,234
4.50%, 2/15/36			350		378,164
3.50%, 2/15/39			900		808,875
4.50%, 8/15/39			600		641,906
4.38%, 11/15/39			500		523,828
U.S. Treasury Inflation Indexed Bonds, 2.00%, 1/15/16			1,101		1,215,162
U.S. Treasury Notes:
0.75%, 5/31/12			4,500		4,524,795
1.75%, 8/15/12			5,000		5,112,695
1.38%, 2/15/13			1,500		1,528,008
2.75%, 10/31/13			2,600		2,754,984
1.75%, 3/31/14			3,300		3,398,228
1.88%, 4/30/14			1,100		1,137,297
2.25%, 1/31/15			2,000		2,088,906
2.13%, 5/31/15			4,000		4,145,920
3.25%, 12/31/16			1,000		1,080,703
Total U.S. Treasury Obligations — 18.4%					29,705,705
Total Long-Term Investments (Cost — $166,303,904) — 107.0%					173,196,146
Short-Term Securities
Foreign Agency Obligations Israel — 0.7%
Israel Treasury Bill (m):
1.96%, 1/05/11	ILS		415		112,568
2.16%, 8/03/11			173		46,334
2.25%, 10/05/11			175		46,453
Israel Treasury Bill — Makam (m):
Series 0711, 0.95%, 7/06/11			399		107,133
Series 311, 2.11%, 3/02/11			220		59,495
Series 411, 1.01%, 4/06/11			2,485		670,670
					1,042,653
Malaysia — 0.2%
Bank Negara Malaysia Monetary Notes (m):
Series 1110, 2.74%, 3/22/11	MYR		60		18,777
Series 2110, 2.30%, 1/06/11			165		51,949
Series 4310, 2.73%, 7/19/11			90		27,845
Series 4610, 1.14%, 7/28/11			410		126,973
Series 4910, 2.72%, 3/15/11			140		43,837
Series 5510, 1.64%, 9/29/11			60		18,483
Series 5710, 2.72%, 4/05/11			50		15,630
Malaysia Treasury Bill (m):
2.37%, 5/06/11			40		12,483
Series 364, 2.77%, 7/01/11			10		3,107
					319,084
Norway — 1.5%
Norway Treasury Bill, 1.26%, 6/15/11 (m)	NOK		15,730		2,503,334
Total Foreign Agency Obligations — 2.4%					3,865,071
U.S. Treasury Obligations
United States
U.S. Treasury Bills, 0.13%, 2/24/11 (m)(n)	USD		115		114,959
Total U.S. Treasury Obligations — 0.1%					114,959

See Notes to Financial Statements.
FDP SERIES, INC.	NOVEMBER 30, 2010	29

Schedule of Investments (continued)	Franklin Templeton Total Return FDP Fund
	(Percentages shown are based on Net Assets)

Time Deposits	Par (000)		Value
Europe — 0.0%
Citibank London, 0.06%, 12/01/10	EUR	55	$	70,813
Sweden — 0.0%
Brown Brothers Harriman & Co. 0.22%, 12/01/10	SEK	16		2,238
United States — 4.4%
Wells Fargo, 0.21%, 12/01/10	USD	7,041		7,040,543
Total Time Deposits — 4.4%				7,113,594
Total Short-Term Securities (Cost — $11,155,158) — 6.9%				11,093,624
Total Investments Before TBA Sale Commitments (Cost — $177,459,062) — 113.9%				184,289,770
TBA Sale Commitments (l)
Fannie Mae Mortgage-Backed Securities, 5.00%, 8/01/35 – 12/15/40		2,000		(2,120,624	)
Freddie Mac Mortgage-Backed Securities:
4.50%, 9/01/20 – 12/15/40		750		(778,711	)
5.00%, 7/01/23 – 12/15/40		3,500		(3,699,608	)
Total TBA Sale Commitments (Proceeds — $6,588,428) — (4.1)%				(6,598,943	)
Total Investments (Cost — $170,870,634*) — 109.8%				177,690,827
Liabilities in Excess of Other Assets — (9.8)%				(15,922,883	)
Net Assets — 100.0%			$	161,767,944

* The cost and unrealized appreciation (depreciation) of investments as of November 30, 2010, as computed for federal income tax purposes were as follows:

Aggregate cost	$	170,913,840
Gross unrealized appreciation	$	9,388,022
Gross unrealized depreciation		(2,611,035	)
Net unrealized appreciation	$	6,776,987

(a)	Variable rate security. Rate shown is as of report date.
(b)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(c)	Non-income producing security.
(d)	Represents a payment-in-kind security which may pay interest/dividends in additional par/shares.
(e)	Issuer filed for bankruptcy and/or is in default of interest payments.
(f)	Convertible security.
(g)	Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.
(h)	Security trades in units with each unit equal to a par amount of BRL 1,000.
(i)	Security trades in units with each unit equal to a par amount of MXN 100.
(j)	Security is perpetual in nature and has no stated maturity date.
(k)	When-issued security. Unsettled when-issued transactions were as follows:

Counterparty	Value		Unrealized Appreciation
Citigroup Global Markets	$	567,858	$	12,639

(l) Represents or includes a to-be-announced (“TBA”) transaction. Unsettled TBA transactions as of report date were as follows:

Counterparty	Value			Unrealized Appreciation (Depreciation)
Bank of America	$	9,171,282		$	(61,195	)
Barclays Bank	$	1,341,913		$	(10,479	)
Citigroup Global Markets, Inc	$	(3,699,609	)	$	(6,288	)
Morgan Stanley & Co., Inc	$	3,168,919		$	2,849
Nomura Securities Intl., Inc	$	5,778,604		$	(33,807	)
UBS AG	$	(2,120,624	)	$	(4,374	)
UBS Securities	$	1,846,595		$	(3,023	)

(m)	Rates shown are discount rates or a range of discount rates paid at the time of purchase.
(n)	All or a portion of security has been pledged as collateral in connection with open financial futures contracts.
•	For Fund compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.
•	Financial futures contracts purchased as of November 30, 2010 were as follows:

Contracts	Issue	Exchange	Expiration	Notional Value		Unrealized Appreciation
55	10-Year U.S. Treasury Bond	Chicago Board of Trade	March 2011	USD	6,823,705	$	2,311
43	2-Year U.S. Treasury Bond	Chicago Board of Trade	March 2011	USD	9,404,132		28,993
Total						$	31,304

• Credit default swaps on traded indexes — buy protection outstanding as of November 30, 2010 were as follows:

Issuer	Pay Fixed Rate	Counterparty	Expiration	Notional Amount (000)		Unrealized Appreciation (Depreciation)
Dow Jones CDX North America	5.00%	Barclays Bank Plc	December 2015	USD	4,000	$	17,213
High Yield Index Series 15:	5.00%	Credit Suisse International	December 2015	USD	1,000		(1,322	)
	5.00%	Deutsche Bank AG	December 2015	USD	1,000		2,442
	5.00%	JPMorgan Chase Bank NA	December 2015	USD	3,200		807
Total						$	19,140

• Credit default swaps on single-name issues — sold protection outstanding as of November 30, 2010 were as follows:

Issuer	Received Fixed Rate	Counterparty	Expiration	Credit Rating1	Notional Amount (000)2		Unrealized Depreciation
Oshkosh Corp.	2.50%	Credit Suisse International	September 2011	BB–	USD	30	$	(855	)

1	Using Standard and Poor’s ratings.
2	The maximum potential amount the Fund may be required to pay should a negative credit event take place as defined under the terms of agreement.

See Notes to Financial Statements.
30	FDP SERIES, INC.	NOVEMBER 30, 2010

Schedule of Investments (continued) Franklin Templeton Total Return FDP Fund

• Foreign currency exchange contracts as of November 30, 2010 were as follows:

Currency Purchased		Currency Sold		Counterparty	Settlement Date	Unrealized Appreciation (Depreciation)
USD	37,921	MXN	515,000	Citibank NA	12/2/2010	$	(3,324	)
INR	1,047,000	USD	23,069	Deutsche Bank AG	4/11/2011		(703	)
INR	2,246,000	USD	49,482	Deutsche Bank AG	4/12/2011		(1,508	)
INR	1,508,000	USD	33,319	JPMorgan Chase Bank NA	4/13/2011		(1,112	)
INR	1,481,000	USD	32,722	JPMorgan Chase Bank NA	4/15/2011		(1,100	)
INR	521,000	USD	11,476	Deutsche Bank AG	4/19/2011		(357	)
INR	740,000	USD	16,282	JPMorgan Chase Bank NA	4/19/2011		(489	)
CLP	66,250,000	USD	126,128	Morgan Stanley Capital Services Inc.	4/25/2011		8,121
INR	1,052,000	USD	23,228	Deutsche Bank AG	4/26/2011		(797	)
CLP	31,162,000	USD	59,328	JPMorgan Chase Bank NA	4/27/2011		3,807
INR	150,000	USD	3,310	JPMorgan Chase Bank NA	4/27/2011		(112	)
CLP	50,230,000	USD	96,226	Citibank NA	4/28/2011		5,533
INR	744,000	USD	16,417	JPMorgan Chase Bank NA	4/28/2011		(557	)
INR	745,000	USD	16,446	JPMorgan Chase Bank NA	4/29/2011		(567	)
INR	13,116,700	USD	290,000	JPMorgan Chase Bank NA	5/4/2011		(10,607	)
INR	1,425,000	USD	29,987	Deutsche Bank AG	6/1/2011		262
INR	1,646,000	USD	34,197	HSBC Bank USA NA	6/3/2011		736
INR	1,050,000	USD	21,721	Deutsche Bank AG	6/7/2011		554
INR	280,000	USD	5,879	HSBC Bank USA NA	6/8/2011		61
INR	284,000	USD	5,908	Deutsche Bank AG	6/10/2011		115
INR	710,000	USD	14,773	HSBC Bank USA NA	6/13/2011		281
INR	711,000	USD	14,915	Deutsche Bank AG	6/16/2011		155
INR	648,000	USD	13,611	Deutsche Bank AG	6/20/2011		119
USD	5,371,680	EUR	4,220,000	Deutsche Bank AG	8/30/2011		(101,035	)
PHP	52,545,000	USD	1,130,000	JPMorgan Chase Bank NA	9/1/2011		55,701
USD	34,030	GBP	21,500	Deutsche Bank AG	10/3/2011		650
INR	41,995,750	USD	904,496	Deutsche Bank AG	10/7/2011		(24,249	)
USD	1,596,487	EUR	1,141,000	Deutsche Bank AG	11/9/2011		117,142
USD	133,694	EUR	96,696	UBS AG	11/17/2011		5,734
USD	33,884	GBP	21,500	Deutsche Bank AG	10/1/2012		573
USD	33,691	GBP	21,500	Deutsche Bank AG	10/1/2013		495
USD	657,119	GBP	421,500	Deutsche Bank AG	10/1/2014		8,602
Total						$	62,124

•	Fair Value Measurements — Various inputs are used in determining the fair value of investments and derivatives, which are as follows:
	•	Level 1 — price quotations in active markets/exchanges for identical assets and liabilities
	•	Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)
	•	Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments and derivatives)
	The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and derivatives and other significant accounting policies, please refer to Note 1 of the Notes to Financial Statements. The following tables summarize the inputs used as of November 30, 2010 in determining the fair valuation of the Fund’s investments and derivatives:

Valuation Inputs	Level 1		Level 2			Level 3		Total
Assets:
Investments in Securities:
Long-Term Investments:
Asset-Backed Securities		—	$	4,880,397			—	$	4,880,397
Common Stock	$	27,974		—			—		27,974
Corporate Bonds		—		37,423,244			—		37,423,244
Floating Rate Loan Interests		—		8,766,504		$	267,337		9,033,841
Foreign Agency Obligations		—		24,052,103			82,949		24,135,052
Non-Agency Mortgage-Backed Securities		—		12,083,156			—		12,083,156
Preferred Securities		—		5,071,052			—		5,071,052
Taxable Municipal Bonds		—		7,599,177			—		7,599,177
U.S. Government Sponsored Agency Securities		—		43,236,548			—		43,236,548
U.S. Treasury Obligations		—		29,705,705			—		29,705,705
Short-Term Securities:
Foreign Agency Obligations		—		3,865,071			—		3,865,071
U.S. Treasury Obligations		—		114,959			—		114,959
Time Deposits		—		7,113,594			—		7,113,594
Liabilities:
Investments in Securities:
TBA Sale Commitments		—		(6,598,943	)		—		(6,598,943	)
Total	$	27,974	$	177,312,567		$	350,286	$	177,690,827

See Notes to Financial Statements.
FDP SERIES, INC.	NOVEMBER 30, 2010	31

Schedule of Investments (concluded) Franklin Templeton Total Return FDP Fund

	Derivative Financial Instruments1
Valuation Inputs	Level 1		Level 2			Level 3		Total
Assets:
Interest rate contracts	$	31,304		—			—	$	31,304
Credit contracts		—	$	19,140			—		19,140
Foreign currency exchange contracts		—		208,641			—		208,641
Liabilities:
Credit contracts		—		(855	)		—		(855	)
Foreign currency exchange contracts		—		(146,517	)		—		(146,517	)
Total	$	31,304	$	80,409			—	$	111,713

¹ Derivative financial instruments are swaps, financial futures contracts and foreign currency exchange contracts. Swaps, financial futures contracts and foreign currency exchange contracts are shown at the unrealized appreciation/depreciation on the instruments.

The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:

	Floating Rate Loan Interests			Foreign Agency Obligations			Total
Assets:
Balance, as of May 31, 2010	$	70,144		$	117,202		$	187,346
Accrued discounts/premiums		(149	)		547			398
Net realized gain (loss)		32			1,139			1,171
Net change in unrealized appreciation/depreciation2		1,224			9,061			10,285
Purchases		210,959			—			210,959
Sales		(4,976	)		(45,000	)		(49,976	)
Transfers in3		253,244			—			253,244
Transfers out3		(263,141	)		—			(263,141	)
Balance, as of November 30, 2010	$	267,337		$	82,949		$	350,286

2	Included in the related net change in unrealized appreciation/depreciation in the Statements of Operations. The net change in unrealized appreciation/depreciation on securities still held at November 30, 2010 was $10,285.
3	The Fund’s policy is to recognize transfers in and transfers out as of the end of the period of the event or the change in circumstances that caused the transfer.

See Notes to Financial Statements.
32	FDP SERIES, INC.	NOVEMBER 30, 2010

Statements of Assets and Liabilities

November 30, 2010 (Unaudited)	MFS Research International FDP Fund			Marsico Growth FDP Fund			Van Kampen Value FDP Fund			Franklin Templeton Total Return FDP Fund
Assets
Investments at value — unaffiliated1	$	124,096,919		$	111,515,725		$	103,773,488		$	184,289,770
Investments at value — affiliated2		—			—			26,925			—
Unrealized appreciation on swaps		—			—			—			19,140
Unrealized appreciation on foreign currency exchange contracts		317			—			—			208,641
Unrealized appreciation on unfunded loan commitments		—			—			—			316
Cash collateral pledged for financial futures contracts		—			—			—			67,814
Foreign currency at value3		6,297			12			—			4,245
Dividends receivable		509,472			287,935			301,412			—
Capital shares sold receivable		138,174			178,545			175,003			483,557
Interest receivable		—			—			—			1,590,663
Investments sold receivable		—			—			—			111,503
Principal paydowns receivable		—			—			—			9,649
TBA sales commitments receivable		—			—			—			6,588,428
Margin variation receivable		—			—			—			21,734
Swap premiums paid		—			—			—			94,812
Prepaid expenses		7,127			11,322			10,900			12,464
Total assets		124,758,306			111,993,539			104,287,728			193,502,736
Liabilities
TBA sale commitments at value4		—			—			—			6,598,943
Unrealized depreciation on foreign currency exchange contracts		2,556			—			—			146,517
Unrealized depreciation on swaps		—			—			—			855
Investments purchased payable		765,905			398,080			54,300			24,083,211
Capital shares redeemed payable		220,044			273,332			256,384			212,326
Investment advisory fees payable		96,586			73,857			61,292			53,500
Service and distribution fees payable		88,797			76,094			72,198			89,640
Other affiliates payable		903			806			795			1,252
Officer’s and Directors’ fees payable		262			254			254			284
Swaps payable		—			—			—			121,016
Income dividends payable		—			—			—			396,851
Deferred income		—			—			—			279
Other accrued expenses payable		52,895			17,902			6,908			30,118
Total liabilities		1,227,948			840,325			452,131			31,734,792
Net Assets	$	123,530,358		$	111,153,214		$	103,835,597		$	161,767,944
Net Assets Consist of
Paid-in capital	$	154,615,646		$	117,341,801		$	135,020,412		$	162,664,615
Undistributed (distributions in excess of) net investment income		(130,462	)		(291,115	)		278,418			(11,076	)
Accumulated net realized loss		(47,542,189	)		(34,015,105	)		(39,989,263	)		(7,820,242	)
Net unrealized appreciation/depreciation		16,587,363			28,117,633			8,526,030			6,934,647
Net Assets	$	123,530,358		$	111,153,214		$	103,835,597		$	161,767,944
1 Investments at cost — unaffiliated	$	107,503,739		$	83,398,092		$	95,246,990		$	177,459,062
2 Investments at cost — affiliated		—			—		$	27,393			—
3 Foreign currency at cost	$	6,319		$	12			—		$	4,347
4 Proceeds from TBA sale commitments		—			—			—		$	6,588,428

See Notes to Financial Statements.
FDP SERIES, INC.	NOVEMBER 30, 2010	33

Statements of Assets and Liabilities (concluded)

November 30, 2010 (Unaudited)	MFS Research International FDP Fund		Marsico Growth FDP Fund		Van Kampen Value FDP Fund		Franklin Templeton Total Return FDP Fund
Net Asset Value
Institutional:
Net assets	$	2,919,822	$	2,756,620	$	2,514,628	$	3,105,854
Shares outstanding, 100 million shares authorized, $0.10 par value		283,501		243,151		270,022		302,642
Net asset value	$	10.30	$	11.34	$	9.31	$	10.26
Investor A:
Net assets	$	24,713,181	$	22,487,508	$	20,999,034	$	33,085,599
Shares outstanding, 100 million shares authorized, $0.10 par value		2,407,486		2,008,873		2,272,052		3,222,972
Net asset value	$	10.27	$	11.19	$	9.24	$	10.27
Investor B:
Net assets	$	1,809,711	$	1,721,381	$	1,617,753	$	2,274,355
Shares outstanding, 100 million shares authorized, $0.10 par value		176,545		160,366		176,468		221,530
Net asset value	$	10.25	$	10.73	$	9.17	$	10.27
Investor C:
Net assets	$	94,087,644	$	84,187,705	$	78,704,182	$	123,302,136
Shares outstanding, 100 million shares authorized, $0.10 par value		9,247,240		7,833,601		8,630,639		12,010,915
Net asset value	$	10.17	$	10.75	$	9.12	$	10.27

See Notes to Financial Statements.
34	FDP SERIES, INC.	NOVEMBER 30, 2010

Statements of Operations

Six Months Ended November 30, 2010 (Unaudited)	MFS Research International FDP Fund			Marsico Growth FDP Fund			Van Kampen Value FDP Fund			Franklin Templeton Total Return FDP Fund
Investment Income
Dividends	$	1,302,460		$	759,772		$	1,259,265		$	1,835
Foreign taxes withheld		(99,475	)		—			(15,335	)		(21,551	)
Interest		20			—			—			3,776,730
Facility and other fees		—			—			—			964
Total income		1,203,005			759,772			1,243,930			3,757,978
Expenses
Investment advisory		558,868			423,452			361,516			321,567
Service — Investor A		30,628			26,304			25,560			40,431
Service and distribution — Investor B		9,676			8,738			8,655			9,033
Service and distribution — Investor C		475,780			403,318			393,615			492,055
Transfer agent — Institutional		1,583			1,492			1,488			1,675
Transfer agent — Investor A		13,396			11,887			11,684			17,161
Transfer agent — Investor B		1,511			1,462			1,452			1,748
Transfer agent — Investor C		54,940			48,461			47,777			69,790
Custodian		61,860			7,390			8,568			22,849
Professional		32,750			26,789			26,983			33,902
Registration		26,476			40,244			27,024			26,773
Printing		17,111			15,356			15,465			22,404
Accounting services		16,183			13,218			12,737			18,509
Officer and Directors		11,154			11,033			11,183			11,308
Miscellaneous		21,540			11,740			11,799			43,561
Total expenses		1,333,456			1,050,884			965,506			1,132,766
Net investment income (loss)		(130,451	)		(291,112	)		278,424			2,625,212
Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Investments		1,790,395			1,743,422			203,787			(1,563,327	)
Financial futures contracts		—			—			—			7,316
Foreign currency transactions		17,515			—			—			86,970
Swaps		—			—			—			157,025
		1,807,910			1,743,422			203,787			(1,312,016	)
Net change in unrealized appreciation/depreciation on:
Investments		15,817,192			12,746,982			7,932,295			8,832,253
Financial futures contracts		—			—			—			31,304
Foreign currency transactions		20,666			—			—			51,024
Swaps		—			—			—			63,219
Unfunded corporate loans		—			—			—			316
		15,837,858			12,746,982			7,932,295			8,978,116
Total realized and unrealized gain		17,645,768			14,490,404			8,136,082			7,666,100
Net Increase in Net Assets Applicable Resulting from Operations	$	17,515,317		$	14,199,292		$	8,414,506		$	10,291,312

See Notes to Financial Statements.
FDP SERIES, INC.	NOVEMBER 30, 2010	35

Statements of Changes in Net Assets MFS Research International FDP Fund

Net Increase (Decrease) in Net Assets:	Six Months Ended November 30, 2010 (Unaudited)			Year Ended May 31, 2010
Operations
Net investment income (loss)	$	(130,451	)	$	992,957
Net realized gain		1,807,910			1,426,459
Net change in unrealized appreciation/depreciation		15,837,858			4,691,123
Net increase in net assets resulting from operations		17,515,317			7,110,539
Dividends and Distributions to Shareholders From
Net investment income:
Institutional		(41,809	)		(39,480	)
Investor A		(323,960	)		(312,409	)
Investor B		(6,404	)		(7,754	)
Investor C		(588,324	)		(518,101	)
Decrease in net assets resulting from dividends and distributions to shareholders		(960,497	)		(877,744	)
Capital Share Transactions
Net decrease in net assets derived from capital share transactions		(3,928,968	)		(11,935,653	)
Redemption Fee
Redemption fee		1,992			2,236
Net Assets
Total increase (decrease) in net assets		12,627,844			(5,700,622	)
Beginning of period		110,902,514			116,603,136
End of period	$	123,530,358		$	110,902,514
Undistributed (distributions in excess of) net investment income	$	(130,462	)	$	960,486

See Notes to Financial Statements.
36	FDP SERIES, INC.	NOVEMBER 30, 2010

Statements of Changes in Net Assets Marsico Growth FDP Fund

Net Increase (Decrease) in Net Assets:	Six Months Ended November 30, 2010 (Unaudited)			Year Ended May 31, 2010
Operations
Net investment loss	$	(291,112	)	$	(627,954	)
Net realized gain		1,743,422			7,045,377
Net change in unrealized appreciation/depreciation		12,746,982			10,511,784
Net increase in net assets resulting from operations		14,199,292			16,929, 207
Capital Share Transactions
Net decrease in net assets derived from capital share transactions		(4,636,374	)		(10,721,537	)
Net Assets
Total increase in net assets		9,562,918			6,207,670
Beginning of period		101,590,296			95,382,626
End of period	$	111,153,214		$	101,590,296
Accumulated net investment loss	$	(291,115	)	$	(3	)

	Van Kampen Value FDP Fund
Net Increase (Decrease) in Net Assets:	Six Months Ended November 30, 2010 (Unaudited)			Year Ended May 31, 2010
Operations
Net investment income	$	278,424		$	275,675
Net realized gain (loss)		203,787			(3,643,103	)
Net change in unrealized appreciation/depreciation		7,932,295			23,387,930
Net increase in net assets resulting from operations		8,414,506			20,020,502
Dividends and Distributions to Common Shareholders From
Net investment income:
Institutional		—			(17,385	)
Investor A		(68,047	)		(133,193	)
Investor B		—			(8,458	)
Investor C		(207,621	)		(335,866	)
Decrease in net assets resulting from dividends and distributions to shareholders		(275,668	)		(494,902	)
Capital Share Transactions
Net decrease in net assets derived from capital share transactions		(3,474,771	)		(14,296,926	)
Net Assets
Total increase in net assets		4,664,067			5,228,674
Beginning of period		99,171,530			93,942,856
End of period	$	103,835,597		$	99,171,530
Undistributed (distributions in excess of) net investment income	$	278,418		$	275,662

See Notes to Financial Statements.
FDP SERIES, INC.	NOVEMBER 30, 2010	37

Statements of Changes in Net Assets Franklin Templeton Total Return FDP Fund

Net Increase (Decrease) in Net Assets:	Six Months Ended November 30, 2010 (Unaudited)			Year Ended May 31, 2010
Operations
Net investment income	$	2,625,212		$	5,495,663
Net realized gain (loss)		(1,312,016	)		1,182,716
Net change in unrealized appreciation/depreciation		8,978,116			11,028,700
Net increase in net assets resulting from operations		10,291,312			17,707,079
Dividends and Distributions to Shareholders From
Net investment income:
Institutional		(60,221	)		(115,588	)
Investor A		(606,622	)		(1,210,640	)
Investor B		(38,786	)		(91,007	)
Investor C		(1,965,601	)		(4,060,157	)
Decrease in net assets resulting from dividends and distributions to shareholders		(2,671,230	)		(5,477,392	)
Capital Share Transactions
Net increase (decrease) in net assets derived from capital share transactions		(3,622,843	)		9,793,336
Net Assets
Total increase in net assets		3,997,239			22,023,023
Beginning of period		157,770,705			135,747,682
End of period	$	161,767,944		$	157,770,705
Undistributed (distributions in excess of) net investment income	$	(11,076	)	$	34,942

See Notes to Financial Statements.
38	FDP SERIES, INC.	NOVEMBER 30, 2010

Financial Highlights MFS Research International FDP Fund

	Institutional
	Six Months Ended November 30, 2010 (Unaudited)															Period July 27, 20051 to May 31, 2006
				Year Ended May 31,
				2010			2009			2008			2007
Per Share Operating Performance
Net asset value, beginning of period	$	9.02		$	8.59		$	13.86		$	14.63		$	12.21		$	10.00
Net investment income2		0.03			0.16			0.15			0.21			0.16			0.08
Net realized and unrealized gain (loss)3		1.41			0.42			(5.24	)		0.12			2.76			2.13
Net increase (decrease) from investment operations		1.44			0.58			(5.09	)		0.33			2.92			2.21
Dividends and distributions from:
Net investment income		(0.16	)		(0.15	)		(0.12	)		(0.08	)		(0.11	)		—
Net realized gain		—			—			(0.06	)		(1.02	)		(0.39	)		—
Total dividends and distributions		(0.16	)		(0.15	)		(0.18	)		(1.10	)		(0.50	)		—
Net asset value, end of period	$	10.30		$	9.02		$	8.59		$	13.86		$	14.63		$	12.21
Total Investment Return4
Based on net asset value		16.07	%5,6		6.76	%5		(37.06	)%5		2.66	%		24.62	%		22.10	%6
Ratios to Average Net Assets
Total expenses		1.32	%7		1.35	%		1.43	%		1.32	%		1.42	%		2.58	%7
Total expenses after fees waived		1.32	%7		1.35	%		1.43	%		1.32	%		1.42	%		1.89	%7
Net investment income		0.62	%7		1.67	%		1.67	%		1.55	%		1.22	%		0.79	%7
					��
Supplemental Data
Net assets, end of period (000)	$	2,920		$	2,405		$	2,412		$	3,571		$	2,984		$	1,995
Portfolio turnover		21	%		61	%		76	%		69	%		70	%		67	%

1	Commencement of operations.
2	Based on average shares outstanding.
3	Includes a redemption fee, which is less than $0.01 per share.
4	Where applicable, total investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.
5	Total return calculation includes redemption fees received by the Fund. The impact to the return is less than 0.01%.
6	Aggregate total investment return.
7	Annualized.

See Notes to Financial Statements.

FDP SERIES, INC. NOVEMBER 30, 2010 39

Financial Highlights (continued) MFS Research International FDP Fund

	Investor A
	Six Months Ended November 30, 2010 (Unaudited)															Period July 27, 20051 to May 31, 2006
				Year Ended May 31,
				2010			2009			2008			2007
Per Share Operating Performance
Net asset value, beginning of period	$	8.97		$	8.55		$	13.82		$	14.59		$	12.19		$	10.00
Net investment income2		0.02			0.14			0.13			0.17			0.12			0.13
Net realized and unrealized gain (loss)3		1.41			0.40			(5.23	)		0.12			2.75			2.06
Net increase (decrease) from investment operations		1.43			0.54			(5.10	)		0.29			2.87			2.19
Dividends and distributions from:
Net investment income		(0.13	)		(0.12	)		(0.11	)		(0.06	)		(0.10	)		—
Net realized gain		—			—			(0.06	)		(1.00	)		(0.37	)		—
Total dividends and distributions		(0.13	)		(0.12	)		(0.17	)		(1.06	)		(0.47	)		—
Net asset value, end of period	$	10.27		$	8.97		$	8.55		$	13.82		$	14.59		$	12.19
Total Investment Return4
Based on net asset value		16.10	%5,6		6.40	%5		(37.24	)%5		2.42	%		24.24	%		21.90	%6
Ratios to Average Net Assets
Total expenses		1.56	%7		1.60	%		1.67	%		1.56	%		1.67	%		2.65	%7
Total expenses after fees waived		1.56	%7		1.60	%		1.67	%		1.56	%		1.67	%		2.15	%7
Net investment income		0.38	%7		1.42	%		1.43	%		1.27	%		0.92	%		1.36	%7
Supplemental Data
Net assets, end of period (000)	$	24,713		$	21,502		$	22,280		$	34,072		$	30,747		$	15,321
Portfolio turnover		21	%		61	%		76	%		69	%		70	%		67	%

1	Commencement of operations.
2	Based on average shares outstanding.
3	Includes a redemption fee, which is less than $0.01 per share.
4	Where applicable, total investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.
5	Total return calculation includes redemption fees received by the Fund. The impact to the return is less than 0.01%.
6	Aggregate total investment return.
7	Annualized.

See Notes to Financial Statements.
40	FDP SERIES, INC.	NOVEMBER 30, 2010

Financial Highlights (continued) MFS Research International FDP Fund

	Investor B
	Six Months Ended November 30, 2010 (Unaudited)															Period July 27, 20051 to May 31, 2006
				Year Ended May 31,
				2010			2009			2008			2007
Per Share Operating Performance
Net asset value, beginning of period	$	8.90		$	8.45		$	13.72		$	14.49		$	12.11		$	10.00
Net investment income (loss)2		(0.02	)		0.05			0.05			0.05			(0.00	)3		0.04
Net realized and unrealized gain (loss)4		1.40			0.43			(5.20	)		0.14			2.76			2.07
Net increase (decrease) from investment operations		1.38			0.48			(5.15	)		0.19			2.76			2.11
Dividends and distributions from:
Net investment income		(0.03	)		(0.03	)		(0.06	)		(0.02	)		(0.06	)		—
Net realized gain		—			—			(0.06	)		(0.94	)		(0.32	)		—
Total dividends and distributions		(0.03	)		(0.03	)		(0.12	)		(0.96	)		(0.38	)		—
Net asset value, end of period	$	10.25		$	8.90		$	8.45		$	13.72		$	14.49		$	12.11
Total Investment Return5
Based on net asset value		15.56	%6,7		5.66	%6		(37.76	)%6		1.62	%		23.34	%		21.10	%7
Ratios to Average Net Assets
Total expenses		2.36	%8		2.39	%		2.45	%		2.35	%		2.46	%		3.42	%8
Total expenses after fees waived		2.36	%8		2.39	%		2.45	%		2.35	%		2.46	%		2.92	%8
Net investment income (loss)		(0.41	)%8		0.53	%		0.51	%		0.40	%		(0.01	)%		0.43	%8
Supplemental Data
Net assets, end of period (000)	$	1,810		$	1,859		$	2,581		$	5,365		$	5,708		$	4,169
Portfolio turnover		21	%		61	%		76	%		69	%		70	%		67	%

1	Commencement of operations.
2	Based on average shares outstanding.
3	Amount is less than $(0.01) per share.
4	Includes a redemption fee, which is less than $0.01 per share.
5	Where applicable, total investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.
6	Total return calculation includes redemption fees received by the Fund. The impact to the return is less than 0.01%.
7	Aggregate total investment return.
8	Annualized.

See Notes to Financial Statements.

FDP SERIES, INC. NOVEMBER 30, 2010 41

Financial Highlights (concluded) MFS Research International FDP Fund

				Investor C
	Six Months Ended November 30, 2010 (Unaudited)															Period July 27, 20051 to May 31, 2006
				Year Ended May 31,
				2010			2009			2008			2007
Per Share Operating Performance
Net asset value, beginning of period	$	8.86		$	8.43		$	13.69		$	14.48		$	12.11		$	10.00
Net investment income (loss)2		(0.02	)		0.06			0.05			0.07			0.02			0.06
Net realized and unrealized gain (loss)3		1.39			0.42			(5.18	)		0.10			2.74			2.05
Net increase (decrease) from investment operations		1.37			0.48			(5.13	)		0.17			2.76			2.11
Dividends and distributions from:
Net investment income		(0.06	)		(0.05	)		(0.07	)		(0.02	)		(0.07	)		—
Net realized gain		—			—			(0.06	)		(0.94	)		(0.32	)		—
Total dividends and distributions		(0.06	)		(0.05	)		(0.13	)		(0.96	)		(0.39	)		—
Net asset value, end of period	$	10.17		$	8.86		$	8.43		$	13.69		$	14.48		$	12.11
Total Investment Return4
Based on net asset value		15.53	%5,6		5.71	%5		(37.75	)%5		1.57	%		23.39	%		21.10	%6
Ratios to Average Net Assets
Total expenses		2.32	%7		2.35	%		2.43	%		2.32	%		2.44	%		3.41	%7
Total expenses after fees waived		2.32	%7		2.35	%		2.43	%		2.32	%		2.44	%		2.92	%7
Net investment income (loss)		(0.38	)%7		0.66	%		0.62	%		0.51	%		0.18	%		0.57	%7
Supplemental Data
Net assets, end of period (000)	$	94,088		$	85,137		$	89,330		$	153,414		$	135,866		$	65,729
Portfolio turnover		21	%		61	%		76	%		69	%		70	%		67	%

1	Commencement of operations.
2	Based on average shares outstanding.
3	Includes a redemption fee, which is less than $0.01 per share.
4	Where applicable, total investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.
5	Total return calculation includes redemption fees received by the Fund. The impact to the return is less than 0.01%.
6	Aggregate total investment return.
7	Annualized.

See Notes to Financial Statements.
42	FDP SERIES, INC.	NOVEMBER 30, 2010

Financial Highlights Marsico Growth FDP Fund

	Institutional
	Six Months Ended November 30, 2010 (Unaudited)			Year Ended May 31,												Period July 27, 20051 to May 31, 2006
				2010			2009			2008			2007
Per Share Operating Performance
Net asset value, beginning of period	$	9.88		$	8.29		$	12.28		$	12.35		$	10.70		$	10.00
Net investment income (loss)2		0.02			0.02			0.05			0.03			0.02			(0.04	)
Net realized and unrealized gain (loss)		1.44			1.57			(4.04	)		(0.10	)		1.63			0.74
Net increase (decrease) from investment operations		1.46			1.59			(3.99	)		(0.07	)		1.65			0.70
Net asset value, end of period	$	11.34		$	9.88		$	8.29		$	12.28		$	12.35		$	10.70
Total Investment Return3
Based on net asset value		14.78	%4		19.18	%		(32.49	)%		(0.57	)%		15.42	%		7.00	%4
Ratios to Average Net Assets
Total expenses		1.16	%5		1.18	%		1.20	%		1.09	%		1.17	%		1.90	%5
Total expenses after fees waived		1.16	%5		1.18	%		1.20	%		1.09	%		1.17	%		1.60	%5
Net investment income (loss)		0.29	%5		0.22	%		0.54	%		0.27	%		0.17	%		(0.43	)%5
Supplemental Data
Net assets, end of period (000)	$	2,757		$	2,365		$	2,102		$	3,184		$	2,657		$	1,174
Portfolio turnover		35	%		72	%		83	%		67	%		44	%		31	%

1	Commencement of operations.
2	Based on average shares outstanding.
3	Where applicable, total investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.
4	Aggregate total investment return.
5	Annualized.

See Notes to Financial Statements.
FDP SERIES, INC.	NOVEMBER 30, 2010	43

Financial Highlights (continued) Marsico Growth FDP Fund

	Investor A
	Six Months Ended November 30, 2010 (Unaudited)			Year Ended May 31,												Period July 27, 20051 to May 31, 2006
				2010			2009			2008			2007
Per Share Operating Performance
Net asset value, beginning of period	$	9.77		$	8.21		$	12.20		$	12.30		$	10.69		$	10.00
Net investment income (loss)2		0.00	3		(0.00	)4		0.03			0.00	3		(0.01	)		(0.04	)
Net realized and unrealized gain (loss)		1.42			1.56			(4.02	)		(0.10	)		1.62			0.73
Net increase (decrease) from investment operations		1.42			1.56			(3.99	)		(0.10	)		1.61			0.69
Net asset value, end of period	$	11.19		$	9.77		$	8.21		$	12.20		$	12.30		$	10.69
Total Investment Return5
Based on net asset value		14.53	%6		19.00	%		(32.70	)%		(0.81	)%		15.06	%		6.90	%6
Ratios to Average Net Assets
Total expenses		1.40	%7		1.42	%		1.44	%		1.33	%		1.42	%		1.76	%7
Total expenses after fees waived		1.40	%7		1.42	%		1.44	%		1.33	%		1.42	%		1.72	%7
Net investment income (loss)		0.04	%7		(0.03	)%		0.30	%		0.03	%		(0.08	)%		(0.48	)%7
Supplemental Data
Net assets, end of period (000)	$	22,488		$	19,779		$	18,156		$	28,583		$	26,181		$	12,910
Portfolio turnover		35	%		72	%		83	%		67	%		44	%		31	%

1	Commencement of operations.
2	Based on average shares outstanding.
3	Amount is less than $0.01 per share.
4	Amount is less than $(0.01) per share.
5	Where applicable, total investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.
6	Aggregate total investment return.
7	Annualized.

See Notes to Financial Statements.
44	FDP SERIES, INC.	NOVEMBER 30, 2010

Financial Highlights (continued) Marsico Growth FDP Fund

	Investor B
	Six Months Ended November 30, 2010 (Unaudited)			Year Ended May 31,												Period July 27, 20051 to May 31, 2006
				2010			2009			2008			2007
Per Share Operating Performance
Net asset value, beginning of period	$	9.40		$	7.97		$	11.94		$	12.12		$	10.62		$	10.00
Net investment loss2		(0.04	)		(0.07	)		(0.04	)		(0.09	)		(0.10	)		(0.12	)
Net realized and unrealized gain (loss)		1.37			1.50			(3.93	)		(0.09	)		1.60			0.74
Net increase (decrease) from investment operations		1.33			1.43			(3.97	)		(0.18	)		1.50			0.62
Net asset value, end of period	$	10.73		$	9.40		$	7.97		$	11.94		$	12.12		$	10.62
Total Investment Return3
Based on net asset value		14.15	%4		17.94	%		(33.25	)%		(1.49	)%		14.12	%		6.20	%4
Ratios to Average Net Assets
Total expenses		2.21	%5		2.22	%		2.24	%		2.11	%		2.20	%		2.57	%5
Total expenses after fees waived		2.21	%5		2.22	%		2.24	%		2.11	%		2.20	%		2.52	%5
Net investment loss		(0.79	)%5		(0.81	)%		(0.48	)%		(0.74	)%		(0.87	)%		(1.30	)%5
Supplemental Data
Net assets, end of period (000)	$	1,721		$	1,806		$	2,133		$	4,412		$	4,772		$	3,362
Portfolio turnover		35	%		72	%		83	%		67	%		44	%		31	%

1	Commencement of operations.
2	Based on average shares outstanding.
3	Where applicable, total investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.
4	Aggregate total investment return.
5	Annualized.

See Notes to Financial Statements.
FDP SERIES, INC.	NOVEMBER 30, 2010	45

Financial Highlights (concluded) Marsico Growth FDP Fund

	Investor C
	Six Months Ended November 30, 2010 (Unaudited)			Year Ended May 31,												Period July 27, 20051 to May 31, 2006
				2010			2009			2008			2007
Per Share Operating Performance
Net asset value, beginning of period	$	9.41		$	7.97		$	11.94		$	12.13		$	10.62		$	10.00
Net investment loss2		(0.04	)		(0.07	)		(0.04	)		(0.09	)		(0.10	)		(0.11	)
Net realized and unrealized gain (loss)		1.38			1.51			(3.93	)		(0.10	)		1.61			0.73
Net increase (decrease) from investment operations		1.34			1.44			(3.97	)		(0.19	)		1.51			0.62
Net asset value, end of period	$	10.75		$	9.41		$	7.97		$	11.94		$	12.13		$	10.62
Total Investment Return3
Based on net asset value		14.24	%4		18.07	%		(33.25	)%		(1.57	)%		14.22	%		6.20	%4
Ratios to Average Net Assets
Total expenses		2.16	%5		2.17	%		2.21	%		2.09	%		2.19	%		2.55	%5
Total expenses after fees waived		2.16	%5		2.17	%		2.21	%		2.09	%		2.19	%		2.51	%5
Net investment loss		(0.73	)%5		(0.78	)%		(0.46	)%		(0.74	)%		(0.85	)%		(1.27	)%5
Supplemental Data
Net assets, end of period (000)	$	84,188		$	77,640		$	72,992		$	127,254		$	114,454		$	54,566
Portfolio turnover		35	%		72	%		83	%		67	%		44	%		31	%

1	Commencement of operations.
2	Based on average shares outstanding.
3	Where applicable, total investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.
4	Aggregate total investment return.
5	Annualized.

See Notes to Financial Statements.
46	FDP SERIES, INC.	NOVEMBER 30, 2010

Financial Highlights Van Kampen Value FDP Fund

	Institutional
	Six Months Ended November 30, 2010 (Unaudited)															Period July 27, 20051 to May 31, 2006
				Year Ended May 31,
				2010			2009			2008			2007
Per Share Operating Performance
Net asset value, beginning of period	$	8.53		$	7.00		$	10.30		$	12.45		$	10.50		$	10.00
Net investment income2		0.06			0.08			0.15			0.18			0.19			0.12
Net realized and unrealized gain (loss)		0.72			1.51			(3.27	)		(1.90	)		1.86			0.43
Net increase (decrease) from investment operations		0.78			1.59			(3.12	)		(1.72	)		2.05			0.55
Dividends and distributions from:
Net investment income		—			(0.06	)		(0.17	)		(0.17	)		(0.05	)		(0.05	)
Net realized gain		—			—			(0.01	)		(0.26	)		(0.05	)		(0.00	) 3
Total dividends and distributions		—			(0.06	)		(0.18	)		(0.43	)		(0.10	)		(0.05	)
Net asset value, end of period	$	9.31		$	8.53		$	7.00		$	10.30		$	12.45		$	10.50
Total Investment Return4
Based on net asset value		9.14	%5		22.83	%		(30.38	) %		(14.15	)%		20.95	%		5.56	%5
Ratios to Average Net Assets
Total expenses		1.06	%6		1.08	%		1.06	%		1.02	%		1.08	%		1.81	%6
Total expenses after fees waived		1.06	%6		1.08	%		1.06	%		1.02	%		1.08	%		1.58	%6
Net investment income		1.39	%6		0.98	%		1.95	%		1.65	%		1.67	%		1.31	%6
Supplemental Data
Net assets, end of period (000)	$	2,515		$	2,351		$	2,105		$	3,131		$	2,739		$	1,202
Portfolio turnover		11	%		19	%		38	%		25	%		26	%		14	%

1	Commencement of operations.
2	Based on average shares outstanding.
3	Amount is less than $(0.01) per share.
4	Where applicable, total investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.
5	Aggregate total investment return.
6	Annualized.

See Notes to Financial Statements.
	FDP SERIES, INC.	NOVEMBER 30, 2010	47

Financial Highlights (continued) Van Kampen Value FDP Fund

	Investor A
	Six Months Ended November 30, 2010 (Unaudited)															Period July 27, 20051 to May 31, 2006
				Year Ended May 31,
				2010			2009			2008			2007
Per Share Operating Performance
Net asset value, beginning of period	$	8.51		$	6.99		$	10.29		$	12.43		$	10.49		$	10.00
Net investment income2		0.05			0.07			0.13			0.15			0.16			0.11
Net realized and unrealized gain (loss)		0.71			1.50			(3.27	)		(1.89	)		1.87			0.43
Net increase (decrease) from investment operations		0.76			1.57			(3.14	)		(1.74	)		2.03			0.54
Dividends and distributions from:
Net investment income		(0.03	)		(0.05	)		(0.15	)		(0.14	)		(0.04	)		(0.05	)
Net realized gain		—			—			(0.01	)		(0.26	)		(0.05	)		(0.00	)3
Total dividends and distributions		(0.03	)		(0.05	)		(0.16	)		(0.40	)		(0.09	)		(0.05	)
Net asset value, end of period	$	9.24		$	8.51		$	6.99		$	10.29		$	12.43		$	10.49
Total Investment Return4
Based on net asset value		8.96	%5		22.61	%		(30.62	)%		(14.29	)%		20.65	%		5.40	%5
Ratios to Average Net Assets
Total expenses		1.28	%6		1.32	%		1.30	%		1.26	%		1.33	%		1.71	%6
Total expenses after fees waived		1.28	%6		1.32	%		1.30	%		1.26	%		1.33	%		1.69	%6
Net investment income		1.13	%6		0.85	%		1.69	%		1.40	%		1.42	%		1.26	%6
Supplemental Data
Net assets, end of period (000)	$	20,999		$	19,197		$	17,813		$	27,616		$	26,194		$	13,135
Portfolio turnover		11	%		19	%		38	%		25	%		26	%		14	%

1	Commencement of operations.
2	Based on average shares outstanding.
3	Amount is less than $(0.01) per share.
4	Where applicable, total investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.
5	Aggregate total investment return.
6	Annualized.

See Notes to Financial Statements.
48	FDP SERIES, INC.	NOVEMBER 30, 2010

Financial Highlights (continued) Van Kampen Value FDP Fund

	Investor B
	Six Months Ended November 30, 2010 (Unaudited)															Period July 27, 20051 to May 31, 2006
				Year Ended May 31,
				2010			2009			2008			2007
Per Share Operating Performance
Net asset value, beginning of period	$	8.44		$	6.97		$	10.23		$	12.36		$	10.45		$	10.00
Net investment income (loss)2		0.01			(0.01	)		0.07			0.07			0.07			0.04
Net realized and unrealized gain (loss)		0.72			1.51			(3.25	)		(1.89	)		1.91			0.43
Net increase (decrease) from investment operations		0.73			1.50			(3.18	)		(1.82	)		1.98			0.47
Dividends and distributions from:
Net investment income		—			(0.03	)		(0.07	)		(0.05	)		(0.02	)		(0.02	)
Net realized gain		—			—			(0.01	)		(0.26	)		(0.05	)		(0.00	)3
Total dividends and distributions		—			(0.03	)		(0.08	)		(0.31	)		(0.07	)		(0.02	)
Net asset value, end of period	$	9.17		$	8.44		$	6.97		$	10.23		$	12.36		$	10.45
Total Investment Return4
Based on net asset value		8.65	%5		21.56	%		(31.13	)%		(14.99	)%		19.67	%		4.76	%5
Ratios to Average Net Assets
Total expenses		2.09	%6		2.11	%		2.08	%		2.05	%		2.12	%		2.52	%6
Total expenses after fees waived		2.09	%6		2.11	%		2.08	%		2.05	%		2.12	%		2.49	%6
Net investment income (loss)		0.32	%6		(0.07	)%		0.91	%		0.60	%		0.63	%		0.45	%6
Supplemental Data
Net assets, end of period (000)	$	1,618		$	1,807		$	2,182		$	4,303		$	5,002		$	3,671
Portfolio turnover		11	%		19	%		38	%		25	%		26	%		14	%

1	Commencement of operations.
2	Based on average shares outstanding.
3	Amount is less than $(0.01) per share.
4	Where applicable, total investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.
5	Aggregate total investment return.
6	Annualized.

See Notes to Financial Statements.
	FDP SERIES, INC.	NOVEMBER 30, 2010	49

Financial Highlights (concluded) Van Kampen Value FDP Fund

	Investor C
	Six Months Ended November 30, 2010 (Unaudited)															Period July 27, 20051 to May 31, 2006
				Year Ended May 31,
				2010			2009			2008			2007
Per Share Operating Performance
Net asset value, beginning of period	$	8.43		$	6.95		$	10.21		$	12.35		$	10.45		$	10.00
Net investment income (loss)2		0.02			0.01			0.07			0.07			0.07			0.04
Net realized and unrealized gain (loss)		0.69			1.50			(3.24	)		(1.89	)		1.90			0.44
Net increase (decrease) from investment operations		0.71			1.51			(3.17	)		(1.82	)		1.97			0.48
Dividends and distributions from:
Net investment income		(0.02	)		(0.03	)		(0.08	)		(0.06	)		(0.02	)		(0.03	)
Net realized gain		—			—			(0.01	)		(0.26	)		(0.05	)		(0.00	)3
Total dividends and distributions		(0.02	)		(0.03	)		(0.09	)		(0.32	)		(0.07	)		(0.03	)
Net asset value, end of period	$	9.12		$	8.43		$	6.95		$	10.21		$	12.35		$	10.45
Total Investment Return4
Based on net asset value		8.48	%5		21.84	%		(31.13	)%		(15.00	)%		19.67	%		4.78	%5
Ratios to Average Net Assets
Total expenses		2.04	%6		2.08	%		2.06	%		2.02	%		2.11	%		2.50	%6
Total expenses after fees waived		2.04	%6		2.08	%		2.06	%		2.02	%		2.11	%		2.47	%6
Net investment income		0.37	%6		0.11	%		0.93	%		0.63	%		0.65	%		0.48	%6
Supplemental Data
Net assets, end of period (000)	$	78,704		$	75,817		$	71,843		$	122,891		$	115,710		$	56,102
Portfolio turnover		11	%		19	%		38	%		25	%		26	%		14	%

	1	Commencement of operations.
	2	Based on average shares outstanding.
	3	Amount is less than $(0.01) per share.
	4	Where applicable, total investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.
	5	Aggregate total investment return.
	6	Annualized.
See Notes to Financial Statements.
50			FDP SERIES, INC.	NOVEMBER 30, 2010

Financial Highlights Franklin Templeton Total Return FDP Fund

	Institutional
	Six Months Ended November 30, 2010 (Unaudited)				Year Ended May 31,											Period July 27, 20051 to May 31, 2006
				2010			2009			2008			2007
Per Share Operating Performance
Net asset value, beginning of period	$	9.78		$	8.97		$	9.80		$	9.86		$	9.63		$	10.00
Net investment income2		0.20			0.42			0.42			0.46			0.43			0.30
Net realized and unrealized gain (loss)		0.48			0.81			(0.61	)		(0.02	)		0.22			(0.36	)
Net increase (decrease) from investment operations		0.68			1.23			(0.19	)		0.44			0.65			(0.06	)
Dividends and distributions from:
Net investment income		(0.20	)		(0.42	)		(0.56	)		(0.46	)		(0.42	)		(0.31	)
Net realized gain		—			—			(0.08	)		(0.04	)		—			(0.00	)3
Total dividends and distributions		(0.20	)		(0.42	)		(0.64	)		(0.50	)		(0.42	)		(0.31	)
Net asset value, end of period	$	10.26		$	9.78		$	8.97		$	9.80		$	9.86		$	9.63
Total Investment Return4
Based on net asset value		7.02	%5		13.88	%		(1.49	)%		4.45	%		6.97	%		(0.55	)%5
Ratios to Average Net Assets
Total expenses		0.73	%6		0.78	%		0.82	%		0.66	%		0.79	%		1.47	%6
Total expenses after fees waived		0.73	%6		0.78	%		0.82	%		0.66	%		0.79	%		1.28	%6
Net investment income		3.93	%6		4.39	%		4.77	%		4.58	%		4.37	%		3.55	%6
Supplemental Data
Net assets, end of period (000)	$	3,106		$	2,828		$	2,347		$	3,091		$	2,597		$	982
Portfolio turnover		83	%7		206	%8		304	%9		288	%10		253	%		122	%

1	Commencement of operations.
2	Based on average shares outstanding.
3	Amount is less than $(0.01) per share.
4	Where applicable, total investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.
5	Aggregate total investment return.
6	Annualized.
7	Includes mortgage dollar roll transactions. Excluding these transactions the portfolio turnover rate would have been 83%.
8	Includes mortgage dollar roll transactions. Excluding these transactions the portfolio turnover rate would have been 47%.
9	Includes mortgage dollar roll transactions. Excluding these transactions the portfolio turnover rate would have been 151%.
10	Includes TBA transactions. Excluding these transactions the portfolio turnover rate would have been 150%.

See Notes to Financial Statements.
	FDP SERIES, INC.	NOVEMBER 30, 2010	51

Financial Highlights (continued) Franklin Templeton Total Return FDP Fund

	Investor A
	Six Months Ended November 30, 2010 (Unaudited)			Year Ended May 31,												Period July 27, 20051 to May 31, 2006
				2010			2009			2008			2007
Per Share Operating Performance
Net asset value, beginning of period	$	9.79		$	8.98		$	9.80		$	9.86		$	9.63		$	10.00
Net investment income2		0.19			0.40			0.40			0.43			0.40			0.29
Net realized and unrealized gain (loss)		0.48			0.81			(0.60	)		(0.02	)		0.23			(0.39	)
Net increase (decrease) from investment operations		0.67			1.21			(0.20	)		0.41			0.63			(0.10	)
Dividends and distributions from:
Net investment income		(0.19	)		(0.40	)		(0.54	)		(0.43	)		(0.40	)		(0.27	)
Net realized gain		—			—			(0.08	)		(0.04	)		—			(0.00	)3
Total dividends and distributions		(0.19	)		(0.40	)		(0.62	)		(0.47	)		(0.40	)		(0.27	)
Net asset value, end of period	$	10.27		$	9.79		$	8.98		$	9.80		$	9.86		$	9.63
Total Investment Return4
Based on net asset value		6.88	%5		13.60	%		(1.62	)%		4.20	%		6.71	%		(0.76	)%5
Ratios to Average Net Assets
Total expenses		0.98	%6		1.02	%		1.04	%		0.92	%		1.04	%		1.32	%6
Total expenses after fees waived		0.98	%6		1.02	%		1.04	%		0.92	%		1.04	%		1.31	%6
Net investment income		3.69	%6		4.15	%		4.54	%		4.32	%		4.12	%		3.67	%6
Supplemental Data
Net assets, end of period (000)	$	33,086		$	31,586		$	25,699		$	37,566		$	32,460		$	16,018
Portfolio turnover		83	%7		206	%8		304	%9		288	%10		253	%		122	%

1	Commencement of operations.
2	Based on average shares outstanding.
3	Amount is less than $(0.01) per share.
4	Where applicable, total investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.
5	Aggregate total investment return.
6	Annualized.
7	Includes mortgage dollar roll transactions. Excluding these transactions the portfolio turnover rate would have been 83%.
8	Includes mortgage dollar roll transactions. Excluding these transactions the portfolio turnover rate would have been 47%.
9	Includes mortgage dollar roll transactions. Excluding these transactions the portfolio turnover rate would have been 151%.
10	Includes TBA transactions. Excluding these transactions the portfolio turnover rate would have been 150%.

See Notes to Financial Statements.
52	FDP SERIES, INC.	NOVEMBER 30, 2010

Financial Highlights (continued) Franklin Templeton Total Return FDP Fund

	Investor B
	Six Months Ended November 30, 2010 (Unaudited)			Year Ended May 31,												Period July 27, 20051 to May 31, 2006
				2010			2009			2008			2007
Per Share Operating Performance
Net asset value, beginning of period	$	9.79		$	8.98		$	9.80		$	9.86		$	9.63		$	10.00
Net investment income2		0.16			0.35			0.36			0.38			0.35			0.25
Net realized and unrealized gain (loss)		0.48			0.80			(0.61	)		(0.02	)		0.22			(0.39	)
Net increase (decrease) from investment operations		0.64			1.15			(0.25	)		0.36			0.57			(0.14	)
Dividends and distributions from:
Net investment income		(0.16	)		(0.34	)		(0.49	)		(0.38	)		(0.34	)		(0.23	)
Net realized gain		—			—			(0.08	)		(0.04	)		—			(0.00	)3
Total dividends and distributions		(0.16	)		(0.34	)		(0.57	)		(0.42	)		(0.34	)		(0.23	)
Net asset value, end of period	$	10.27		$	9.79		$	8.98		$	9.80		$	9.86		$	9.63
Total Investment Return4
Based on net asset value		6.60	%5		13.00	%		(2.16	)%		3.66	%		6.15	%		(1.19	)%5
Ratios to Average Net Assets
Total expenses		1.52	%6		1.55	%		1.57	%		1.45	%		1.57	%		1.86	%6
Total expenses after fees waived		1.52	%6		1.55	%		1.57	%		1.45	%		1.57	%		1.85	%6
Net investment income		3.17	%6		3.62	%		3.99	%		3.80	%		3.59	%		3.12	%6
Supplemental Data
Net assets, end of period (000)	$	2,274		$	2,521		$	2,489		$	4,138		$	4,377		$	3,395
Portfolio turnover		83	%7		206	%8		304	%9		288	%10		253	%		122	%

1	Commencement of operations.
2	Based on average shares outstanding.
3	Amount is less than $(0.01) per share.
4	Where applicable, total investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.
5	Aggregate total investment return.
6	Annualized.
7	Includes mortgage dollar roll transactions. Excluding these transactions the portfolio turnover rate would have been 83%.
8	Includes mortgage dollar roll transactions. Excluding these transactions the portfolio turnover rate would have been 47%.
9	Includes mortgage dollar roll transactions. Excluding these transactions the portfolio turnover rate would have been 151%.
10	Includes TBA transactions. Excluding these transactions the portfolio turnover rate would have been 150%.

See Notes to Financial Statements.
FDP SERIES, INC.	NOVEMBER 30, 2010	53

Financial Highlights (concluded) Franklin Templeton Total Return FDP Fund

	Investor C
	Six Months Ended November 30, 2010 (Unaudited)			Year Ended May 31,												Period July 27, 20051 to May 31, 2006
				2010			2009			2008			2007
Per Share Operating Performance
Net asset value, beginning of period	$	9.79		$	8.98		$	9.80		$	9.86		$	9.63		$	10.00
Net investment income2		0.16			0.34			0.35			0.37			0.35			0.25
Net realized and unrealized gain (loss)		0.48			0.81			(0.60	)		(0.01	)		0.22			(0.40	)
Net increase (decrease) from investment operations		0.64			1.15			(0.25	)		0.36			0.57			(0.15	)
Dividends and distributions from:
Net investment income		(0.16	)		(0.34	)		(0.49	)		(0.38	)		(0.34	)		(0.22	)
Net realized gain		—			—			(0.08	)		(0.04	)		—			(0.00	)3
Total dividends and distributions		(0.16	)		(0.34	)		(0.57	)		(0.42	)		(0.34	)		(0.22	)
Net asset value, end of period	$	10.27		$	9.79		$	8.98		$	9.80		$	9.86		$	9.63
Total Investment Return4
Based on net asset value		6.59	%5		12.97	%		(2.18	)%		3.62	%		6.10	%		(1.23	)%5
Ratios to Average Net Assets
Total expenses		1.54	%6		1.57	%		1.59	%		1.48	%		1.62	%		1.91	%6
Total expenses after fees waived		1.54	%6		1.57	%		1.59	%		1.48	%		1.62	%		1.90	%6
Net investment income		3.14	%6		3.60	%		3.97	%		3.75	%		3.54	%		3.07	%6
Supplemental Data
Net assets, end of period (000)	$	123,302		$	120,836		$	105,212		$	164,222		$	135,750		$	68,162
Portfolio turnover		83	%7		206	%8		304	%9		288	%10		253	%		122	%

1	Commencement of operations.
2	Based on average shares outstanding.
3	Amount is less than $(0.01) per share.
4	Where applicable, total investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.
5	Aggregate total investment return.
6	Annualized.
7	Includes mortgage dollar roll transactions. Excluding these transactions the portfolio turnover rate would have been 83%.
8	Includes mortgage dollar roll transactions. Excluding these transactions the portfolio turnover rate would have been 47%.
9	Includes mortgage dollar roll transactions. Excluding these transactions the portfolio turnover rate would have been 151%.
10	Includes TBA transactions. Excluding these transactions the portfolio turnover rate would have been 150%.

See Notes to Financial Statements.
54	FDP SERIES, INC.	NOVEMBER 30, 2010

Notes to Financial Statements (Unaudited)

1. Organization and Significant Accounting Policies:

MFS Research International FDP Fund (“MFS Fund”), Marsico Growth FDP Fund (“Marsico Fund”), Van Kampen Value FDP Fund (“Van Kampen Fund”) and Franklin Templeton Total Return FDP Fund (“Franklin Templeton Fund”) (each a “Fund,” collectively, the “Funds”) each is a series of FDP Series, Inc. (the “Corporation”). The Corporation is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a diversified, open-end management investment company. The Corporation is organized as a Maryland corporation. The Funds’ financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”), which may require management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund offers multiple classes of shares. Institutional Shares are sold without a sales charge and only to certain eligible investors. Investor A Shares are generally sold with a front-end sales charge. Investor B and Investor C Shares may be subject to a contingent deferred sales charge. All classes of shares have identical voting, dividend, liquidation and other rights and the same terms and conditions, except that Investor A, Investor B, and Investor C Shares bear certain expenses related to the shareholder servicing of such shares, and Investor B, and Investor C Shares also bear certain expenses related to the distribution of such shares. Investor B Shares automatically convert to Investor A Shares after approximately eight years for MFS Fund, Marsico Fund and Van Kampen Fund and after ten years for Franklin Temple-ton Fund. Investor B Shares are only available through exchanges, dividend reinvestment by existing shareholders or for purchase by certain qualified employee benefit plans. Each class has exclusive voting rights with respect to matters relating to its shareholder servicing and distribution expenditures (except that Investor B shareholders may vote on material changes to the Investor A distribution plan).

The following is a summary of significant accounting policies followed by the Funds:

Valuation: The Funds’ fair value their financial instruments at market value using independent dealers or pricing services under policies approved by the Board of Directors (the “Board”). The Funds value their bond investments on the basis of last available bid prices or current market quotations provided by dealers or pricing services. Floating rate loan interests are valued at the mean of the bid prices from one or more brokers or dealers as obtained from a pricing service. In determining the value of a particular investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrixes, market transactions in comparable investments, various relationships observed in the market between investments and calculated yield measures based on valuation technology commonly employed in the market for such investments. Asset-backed and mortgage-backed securities are valued by independent pricing services using models that consider estimated cash flows of each tranche of the security, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. Financial futures contracts traded on exchanges are valued at their last sale price. To-be-announced (“TBA”) commitments are valued on the basis of last available bid prices or current market quotations provided by pricing services. Swap agreements are valued utilizing quotes received daily by the Funds’ pricing service or through brokers, which are derived using daily swap curves and models that incorporate a number of market data factors, such as discounted cash flows and trades and values of the underlying reference instruments. Short-term securities with remaining maturities of 60 days or less may be valued at amortized cost, which approximates fair value.

Equity investments traded on a recognized securities exchange or the NASDAQ Global Market System (“NASDAQ”) are valued at the last reported sale price that day or the NASDAQ official closing price, if applicable. For equity investments traded on more than one exchange, the last reported sale price on the exchange where the stock is primarily traded is used. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last available bid price. If no bid price is available, the prior day’s price will be used, unless it is determined that such prior day’s price no longer reflects the fair value of the security.

Securities and other assets and liabilities denominated in foreign currencies are translated into US dollars using exchange rates determined as of the close of business on the New York Stock Exchange (“NYSE”). Foreign currency exchange contracts are valued at the mean between the bid and ask prices and are determined as of the close of business on the NYSE. Interpolated values are derived when the settlement date of the contract is an interim date for which quotations are not available.

In the event that application of these methods of valuation results in a price for an investment which is deemed not to be representative of the market value of such investment or is not available, the investment will be valued in accordance with a policy approved by the Board as reflecting fair value (“Fair Value Assets”). When determining the price for Fair Value Assets, the investment advisor and/or the sub-advisor seeks to determine the price that each Fund might reasonably expect to receive from the current sale of that asset in an arm’s-length transaction. Fair value determinations shall be based upon all available factors that the investment advisor and/or sub-advisor deems relevant. The pricing of all Fair Value Assets is subsequently reported to the Board or a committee thereof.

Generally, trading in foreign instruments is substantially completed each day at various times prior to the close of business on the NYSE. Occasionally, events affecting the values of such instruments may occur between the foreign market close and the close of business on the NYSE that may not be reflected in the computation of each Fund’s net assets. If events (for example, a company announcement, market volatility or a natural disaster) occur during such periods that are expected to materially affect the value of such instruments, those instruments may be Fair Value Assets and be valued at their fair values, as determined in good faith by the investment advisor using a pricing service and/or policies approved by the Board. Each business day, the Funds use a pricing service to assist with the valuation of certain foreign exchange-traded equity securities and foreign exchange-traded and over-the-counter (“OTC”) options (the “Systematic Fair Value Price”). Using current market factors, the Systematic Fair Value Price is designed to value such foreign securities and foreign options at fair value as of the close of business on the NYSE, which follows the close of the local markets.

FDP SERIES, INC. NOVEMBER 30, 2010 55

Notes to Financial Statements (continued)

Foreign Currency Transactions: The Funds’ books and records are maintained in US dollars. Purchases and sales of investments are recorded at the rates of exchange prevailing on the date the transactions are entered into. Generally, when the US dollar rises in value against a foreign currency, the Funds’ investments denominated in that currency will lose value because its currency is worth fewer US dollars; the opposite effect occurs if the US dollar falls in relative value.

The Funds report foreign currency related transactions as components of realized gain (loss) for financial reporting purposes, whereas such components are treated as ordinary income for federal income tax purposes.

Asset-Backed and Mortgaged-Backed Securities: Certain Funds may invest in asset-backed securities. Asset-backed securities are generally issued as pass-through certificates, which represent undivided fractional ownership interests in an underlying pool of assets, or as debt instruments, which are also known as collateralized obligations, and are generally issued as the debt of a special purpose entity organized solely for the purpose of owning such assets and issuing such debt. Asset-backed securities are often backed by a pool of assets representing the obligations of a number of different parties. The yield characteristics of certain asset-backed securities may differ from traditional debt securities. One such major difference is that all or a principal part of the obligations may be prepaid at any time because the underlying assets (i.e., loans) may be prepaid at any time. As a result, a decrease in interest rates in the market may result in increases in the level of prepayments as borrowers, particularly mortgagors, refinance and repay their loans. An increased prepayment rate with respect to an asset-backed security subject to such a prepayment feature will have the effect of shortening the maturity of the security. If the Fund has purchased such an asset-backed security at a premium, a faster than anticipated prepayment rate could result in a loss of principal to the extent of the premium paid.

Certain Funds may purchase certain mortgage pass-through securities. There are a number of important differences among the agencies and instrumentalities of the US Government that issue mortgage-related securities and among the securities that they issue. For example, mortgage-related securities guaranteed by the Ginnie Mae are guaranteed as to the timely payment of principal and interest by Ginnie Mae and such guarantee is backed by the full faith and credit of the United States. However, mortgage-related securities issued by the Freddie Mac and Fannie Mae, including Freddie Mac and Fannie Mae guaranteed Mortgage Pass-Through Certificates which are solely the obligations of Freddie Mac and Fannie Mae, are not backed by or entitled to the full faith and credit of the United States and are supported by the right of the issuer to borrow from the Treasury.

Multiple Class Pass-Through Securities: Certain Funds may invest in multiple class pass-through securities, including collateralized mortgage obligations (“CMOs”) and commercial mortgage-backed securities. These multiple class securities may be issued by Ginnie Mae, US government agencies or instrumentalities or by trusts formed by private originators of, or investors in, mortgage loans. In general, CMOs are debt obligations of a legal entity that are collateralized by, and multiple class pass-through securities represent direct ownership interests in, a pool of residential or commercial mortgage loans or mortgage pass-through securities (the “Mortgage Assets”), the payments on which are used to make payments on the CMOs or multiple pass-through securities. Classes of CMOs include interest only (“IOs”), principal only (“POs”), planned amortization classes and targeted amortization classes. IOs and POs are stripped mortgage-backed securities representing interests in a pool of mortgages, the cash flow from which has been separated into interest and principal components. IOs receive the interest portion of the cash flow while POs receive the principal portion. IOs and POs can be extremely volatile in response to changes in interest rates. As interest rates rise and fall, the value of IOs tends to move in the same direction as interest rates. POs perform best when prepayments on the underlying mortgages rise since this increases the rate at which the principal is returned and the yield to maturity on the PO. When payments on mortgages underlying a PO are slower than anticipated, the life of the PO is lengthened and the yield to maturity is reduced. If the underlying mortgage assets experience greater than anticipated pre-payments of principal, the Fund may not fully recoup its initial investment in IOs.

Zero-Coupon Bonds: Certain Funds may invest in zero-coupon bonds, which are normally issued at a significant discount from face value and do not provide for periodic interest payments. Zero-coupon bonds may experience greater volatility in market value than similar maturity debt obligations which provide for regular interest payments.

Capital Trusts: Certain Funds may invest in capital trusts.These securities are typically issued by corporations, generally in the form of interest-bearing notes with preferred securities characteristics, or by an affiliated business trust of a corporation, generally in the form of beneficial interests in subordinated debentures or similarly structured securities.The securities can be structured as either fixed or adjustable coupon securities that can have either a perpetual or stated maturity date. Dividends can be deferred without creating an event of default or acceleration, although maturity cannot take place unless all cumulative payment obligations have been met.The deferral of payments does not affect the purchase or sale of these securities in the open market. Payments on these securities are treated as interest rather than dividends for federal income tax purposes.These securities can have a rating that is slightly below that of the issuing company’s senior debt securities.

Preferred Stock: The Funds may invest in preferred stocks. Preferred stock has a preference over common stock in liquidation (and generally in receiving dividends as well) but is subordinated to the liabilities of the issuer in all respects. As a general rule, the market value of preferred stock with a fixed dividend rate and no conversion element varies inversely with interest rates and perceived credit risk, while the market price of convertible preferred stock generally also reflects some element of conversion value. Because preferred stock is junior to debt securities and other obligations of the issuer, deterioration in the credit quality of the issuer will cause greater changes in the value of a preferred stock than in a more senior debt security with similar stated yield characteristics. Unlike interest payments on debt securities, preferred stock dividends are payable only if declared by the issuer’s board of directors. Preferred stock also may be subject to optional or mandatory redemption provisions.

56 FDP SERIES, INC. NOVEMBER 30, 2010

Notes to Financial Statements (continued)

Floating Rate Loan Interests: Certain Funds may invest in floating rate loan interests. The floating rate loan interests the Funds hold are typically issued to companies (the “borrower”) by banks, other financial institutions, and privately and publicly offered corporations (the “lender”). Floating rate loan interests are generally non-investment grade, often involve borrowers whose financial condition is troubled or uncertain and companies that are highly leveraged. The Funds may invest in obligations of borrowers who are in bankruptcy proceedings. Floating rate loan interests may include fully funded term loans or revolving lines of credit. Floating rate loan interests are typically senior in the corporate capital structure of the borrower. Floating rate loan interests generally pay interest at rates that are periodically determined by reference to a base lending rate plus a premium. The base lending rates are generally the lending rate offered by one or more European banks, such as LIBOR (London Inter Bank Offered Rate), the prime rate offered by one or more US banks or the certificate of deposit rate. Floating rate loan interests may involve foreign borrowers, and investments may be denominated in foreign currencies. The Funds consider these investments to be investments in debt securities for purposes of their investment policies.

When a Fund buys a floating rate loan interest it may receive a facility fee and when it sells a floating rate loan interest it may pay a facility fee. On an ongoing basis, the Funds may receive a commitment fee based on the undrawn portion of the underlying line of credit amount of a floating rate loan interest. The Funds earn and/or pay facility and other fees on floating rate loan interests, which are shown as facility and other fees in the Statements of Operations. Facility and commitment fees are typically amortized to income over the term of the loan or term of the commitment, respectively. Consent and amendment fees are recorded to income as earned. Prepayment penalty fees, which may be received by the Funds upon the prepayment of a floating rate loan interest by a borrower, are recorded as realized gains. The Funds may invest in multiple series or tranches of a loan. A different series or tranche may have varying terms and carry different associated risks.

Floating rate loan interests are usually freely callable at the borrower’s option. The Funds may invest in such loans in the form of participations in loans (“Participations”) and assignments of all or a portion of loans from third parties. Participations typically will result in the Funds having a contractual relationship only with the lender, not with the borrower.The Funds will have the right to receive payments of principal, interest and any fees to which it is entitled only from the lender selling the Participation and only upon receipt by the lender of the payments from the borrower. In connection with purchasing Participations, the Funds generally will have no right to enforce compliance by the borrower with the terms of the loan agreement, nor any rights of offset against the borrower, and the Funds may not benefit directly from any collateral supporting the loan in which it has purchased the Participation.As a result, the Funds will assume the credit risk of both the borrower and the lender that is selling the Participation.The Funds’ investment in loan participation interests involves the risk of insolvency of the financial intermediaries who are parties to the transactions. In the event of the insolvency of the lender selling the Participation, the Funds may be treated as general creditors of the lender and may not benefit from any offset between the lender and the borrower.

Mortgage Dollar Roll Transactions: Certain Funds may sell TBA mortgage-backed securities and simultaneously contract to repurchase substantially similar (same type, coupon and maturity) securities on a specific future date at an agreed upon price. During the period between the sale and repurchase, the Funds will not be entitled to receive interest and principal payments on the securities sold. The Funds account for dollar roll transactions as purchases and sales and realizes gains and losses on these transactions. These transactions may increase the Funds’ portfolio turnover rate. Mortgage dollar rolls involve the risk that the market value of the securities that the Funds are required to purchase may decline below the agreed upon repurchase price of those securities.

TBA Commitments: Certain Funds may enter into TBA commitments. TBA commitments are forward agreements for the purchase or sale of mortgage-backed securities for a fixed price, with payment and delivery on an agreed upon future settlement date. The specific securities to be delivered are not identified at the trade date; however, delivered securities must meet specified terms, including issuer, rate and mortgage terms. The Funds generally enter into TBA commitments with the intent to take possession of or deliver out the underlying mortgage-backed securities but can extend the settlement or roll the transaction. TBA commitments involve a risk of loss if the value of the security to be purchased or sold declines or increases, respectively, prior to settlement date.

Segregation and Collateralization: In cases in which the 1940 Act and the interpretive positions of the Securities and Exchange Commission (“SEC”) require that the Funds either deliver collateral or segregate assets in connection with certain investments (e.g., dollar rolls, TBA sale commitments, financial futures contracts, foreign currency exchange contracts and swaps), the Funds will, consistent with SEC rules and/or certain interpretive letters issued by the SEC, segregate collateral or designate on their books and records cash or other liquid securities having a market value at least equal to the amount that would otherwise be required to be physically segregated. Furthermore, based on requirements and agreements with certain exchanges and third party broker-dealers, each party has requirements to deliver/ deposit securities as collateral for certain investments.

Investment Transactions and Investment Income: For financial reporting purposes, investment transactions are recorded on the dates the transactions are entered into (the trade dates). Realized gains and losses on investment transactions are determined on the identified cost basis. Dividend income is recorded on the ex-dividend dates. Dividends from foreign securities where the ex-dividend date may have passed are subsequently recorded when the Funds have determined the ex-dividend date. Under the applicable foreign tax laws, a withholding tax at various rates may be imposed on capital gains, dividends and interest. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized on the accrual basis. Income and realized and unrealized gains and losses are allocated daily to each class based on its relative net assets. Consent fees are compensation for agreeing to changes in the terms of debt instruments and are included in facility and other fees in the Statements of Operations.

FDP SERIES, INC. NOVEMBER 30, 2010 57

Notes to Financial Statements (continued)

Dividends and Distributions: For MFS Fund, Marsico Fund and Van Kampen Fund, dividends and distributions paid by the Funds are recorded on the ex-dividend dates. For Franklin Templeton Fund, dividends from net investment income are declared daily and paid monthly. Distributions of capital gains are recorded on the ex-dividend dates. The amount and timing of dividends and distributions are determined in accordance with federal income tax regulations, which may differ from US GAAP.

Income Taxes: It is each Fund’s policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies and to distribute substantially all of its taxable income to its shareholders. Therefore, no federal income tax provision is required.

Each Fund files US federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on the Funds’ US federal tax returns remains open for each of the four years ended May 31, 2010. The statutes of limitations on the Funds’ state and local tax returns may remain open for an additional year depending upon the jurisdiction. Management does not believe there are any uncertain tax positions that require recognition of a tax liability.

Other: Expenses directly related to a Fund or its classes are charged to that Fund or class. Other operating expenses shared by several funds are pro rated among those funds on the basis of relative net assets or other appropriate methods. Other expenses of the Fund are allocated daily to each class based on its relative net assets. The Funds have an arrangement with the custodian whereby fees may be reduced by credits earned on uninvested cash balances, which if applicable are shown as fees paid indirectly in the Statements of Operations. The custodian imposes fees on overdrawn cash balances, which can be offset by accumulated credits earned or may result in additional custody charges.

2. Derivative Financial Instruments:

The Funds engage in various portfolio investment strategies using derivative contracts both to increase the returns of the Funds and to economically hedge, or protect, their exposure to certain risks such as credit risk, interest rate risk and foreign currency exchange rate risk. These contracts may be transacted on an exchange or OTC.

Losses may arise if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument or if the counterparty does not perform under the contract. The Funds’ maximum risk of loss from counterparty credit risk on OTC derivatives is generally the aggregate unrealized gain netted against any collateral pledged by/posted to the counterparty. Counterparty risk related to exchange–traded financial futures contracts and options is minimal because of the protection against defaults by the exchange on which these contracts trade.

The Funds may mitigate counterparty risk by procuring collateral and through netting provisions included within an International Swaps and Derivatives Association, Inc. (“ISDA”) Master Agreement implemented between a Fund and each of its respective counterparties. The ISDA Master Agreement allows each Fund to offset with each separate counterparty certain derivative financial instrument’s payables and/or receivables with collateral held. The amount of collateral moved to/from applicable counterparties is generally based upon minimum transfer amounts of up to $500,000. To the extent amounts due to the Funds from their counterparties are not fully collateralized contractually or otherwise, the Funds bear the risk of loss from counter-party non-performance. See Note 1 “Segregation and Collateralization” for information with respect to collateral practices. In addition, each Fund manages counterparty risk by entering into agreements only with counterparties that it believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties.

Certain ISDA Master Agreements allow counterparties to OTC derivatives to terminate derivative contracts prior to maturity in the event the Funds’ net assets decline by a stated percentage or the Funds fail to meet the terms of its ISDA Master Agreements, which would cause the Funds to accelerate payment of any net liability owed to the counterparty.

Financial Futures Contracts: The Funds purchase or sell financial futures contracts and options on financial futures contracts to gain exposure to, or economically hedge against, changes in interest rates (interest rate risk). Financial futures contracts are contracts for delayed delivery of securities at a specific future date and at a specific price or yield. Pursuant to the contract, the Funds agree to receive from or pay to the broker an amount of cash equal to the daily fluctuation in value of the contract. Such receipts or payments are known as margin variation and are recorded by the Funds as unrealized gains or losses. When the contract is closed, the Funds record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. The use of financial futures transactions involves the risk of an imperfect correlation in the movements in the price of financial futures contracts, interest rates and the underlying assets.

Foreign Currency Exchange Contracts: The Funds enter into foreign currency exchange contracts as an economic hedge against either specific transactions or portfolio instruments or to obtain exposure to foreign currencies (foreign currency exchange rate risk). A foreign currency exchange contract is an agreement between two parties to buy and sell a currency at a set exchange rate on a future date. Foreign currency exchange contracts, when used by the Funds, help to manage the overall exposure to the currency backing some of the investments held by the Funds. The contract is marked-to-market daily and the change in market value is recorded by the Funds as an unrealized gain or loss. When the contract is closed, the Funds record a realized gain or loss equal to the difference between the value at the time it was opened and the value at the time it was closed. The use of foreign currency exchange contracts involves the risk that the value of a foreign currency exchange contract changes unfavorably due to movements in the value of the referenced foreign currencies and the risk that a counterparty to the contract does not perform its obligations under the agreement.

58 FDP SERIES, INC. NOVEMBER 30, 2010

Notes to Financial Statements (continued)

Swaps: Certain Funds enter into swap agreements, in which the Funds and a counterparty agree to make periodic net payments on a specified notional amount. These periodic payments received or made by the Funds are recorded in the Statements of Operations as realized gains or losses, respectively. Any upfront fees paid are recorded as assets and any upfront fees received are recorded as liabilities and amortized over the term of the swap. Swaps are marked-to-market daily and changes in value are recorded as unrealized appreciation (depreciation). When the swap is terminated, the Funds will record a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the Funds’ basis in the contract, if any. Generally, the basis of the contracts is the premium received or paid. Swap transactions involve, to varying degrees, elements of interest rate, credit and market risk in excess of the amounts recognized in the Statements of Assets and Liabilities. Such risks involve the possibility that there will be no liquid market for these agreements, that the counter-party to the agreements may default on its obligation to perform or disagree as to the meaning of the contractual terms in the agreements, and that there may be unfavorable changes in interest rates and/or market values associated with these transactions.

• Credit default swaps — Certain Funds enter into credit default swaps to manage their exposure to the market or certain sectors of the market, to reduce its risk exposure to defaults of corporate and/or sovereign issuers or to create exposure to corporate and/or sovereign issuers to which they are not otherwise exposed (credit risk). The Funds enter into credit default swap agreements to provide a measure of protection against the default of an issuer (as buyer protection) and/or gain credit exposure to an issuer to which it is not otherwise exposed (as seller of protection). The Funds may either buy or sell (write) credit default swaps on single-name issuers (corporate or sovereign), a combination or basket of single-name issuers or traded indexes. Credit default swaps on single-name issuers are agreements in which the buyer pays fixed periodic payments to the seller in consideration for a guarantee from the seller to make a specific payment should a negative credit event take place (e.g., bankruptcy, failure to pay, obligation accelerators, repudiation, moratorium or restructuring). Credit default swaps on traded indexes are agreements in which the buyer pays fixed periodic payments to the seller in consideration for a guarantee from the seller to make a specific payment should a write-down, principal or interest shortfall or default of all or individual underlying securities included in the index occurs. As a buyer, if an underlying credit event occurs, the Funds will either receive from the seller an amount equal to the notional amount of the swap and deliver the referenced security or underlying securities comprising of an index or receive a net settlement of cash equal to the notional amount of the swap less the recovery value of the security or underlying securities comprising of an index. As a seller (writer), if an underlying credit event occurs, the Funds will either pay the buyer an amount equal to the notional amount of the swap and take delivery of the referenced security or underlying securities comprising of an index or pay a net settlement of cash equal to the notional amount of the swap less the recovery value of the security or underlying securities comprising of an index.

Derivative Instruments Categorized by Risk Exposure:
Fair Values of Derivative Instruments as of November 30, 2010
Asset Derivatives
	Statements of Assets and Liabilities Location	MFS Fund		Franklin Templeton Fund
Interest rate contracts*	Net unrealized appreciation/depreciation*		—	$	31,304
Foreign currency exchange contracts	Unrealized appreciation on foreign currency exchange contracts	$	317		208,641
Credit contracts	Unrealized appreciation on swaps		—		19,140
Total		$	317	$	259,085
Liability Derivatives
	Statements of Assets and Liabilities Location	MFS Fund		Franklin Templeton Fund
Foreign currency exchange contracts	Unrealized depreciation on foreign currency exchange contracts	$	2,556	$	146,517
Credit contracts	Unrealized depreciation on swaps		—		855
Total		$	2,556	$	147,372

* Includes cumulative appreciation/depreciation of financial futures contracts as reported in the Schedules of Investments. Only the current day’s margin variation is reported within the Statements of Assets and Liabilities.

The Effect of Derivative Instruments on the Statements of Operations Six Months Ended November 30, 2010
Net Realized Gain (Loss) from
	MFS Fund			Franklin Templeton Fund
Interest rate contracts:
Financial futures contracts		—		$	7,316
Foreign currency transactions:
Foreign currency transactions	$	(4,240	)		63,366
Credit contracts:
Swaps		—			157,025
Total	$	(4,240	)	$	227,707
Net Change in Unrealized Appreciation/Depreciation on
	MFS Fund			Franklin Templeton Fund
Interest rate contracts:
Financial futures contracts		—		$	31,304
Foreign currency transactions:
Foreign currency transactions	$	(2,197	)		32,123
Credit contracts:
Swaps		—			63,219
Total	$	(2,197	)	$	126,646

FDP SERIES, INC. NOVEMBER 30, 2010 59

Notes to Financial Statements (continued)

For the six months ended November 30, 2010, the average quarterly balance of outstanding derivative financial instruments was as follows:

	MFS Fund		Franklin Templeton Fund
Financial futures contracts:
Average number of contracts purchased		—		49
Average notional value of contracts purchased		—	$	8,113,918
Foreign currency exchange contracts:
Average number of contracts — US dollars purchased		3		6
Average number of contracts — US dollars sold		6		29
Average US dollar amounts purchased	$	689,182	$	6,727,411
Average US dollar amounts sold	$	660,344	$	3,074,127
Credit default swaps:
Average number of contracts — buy protection		—		1
Average number of contracts — sell protection		—		3
Average notional value — buy protection		—	$	4,600,000
Average notional value — sell protection		—	$	1,805,000

3. Investment Advisory Agreement and Other Transactions with Affiliates:

The PNC Financial Services Group, Inc. (“PNC”), Bank of America Corporation (“BAC”) and Barclays Bank PLC (“Barclays”) are the largest stockholders of BlackRock, Inc. (“BlackRock”). Due to the ownership structure, PNC is an affiliate of the Funds for 1940 Act purposes, but BAC and Barclays are not.

Each Fund entered into an Investment Advisory Agreement with BlackRock Advisors, LLC (the “Manager”), the Funds’ investment advisor, an indirect, wholly owned subsidiary of BlackRock, to provide investment advisory and administration services. The Manager is responsible for the management of each Fund’s portfolio and provides the necessary personnel, facilities, equipment and certain other services necessary to the operations of each Fund. For such services, each Fund pays the Manager a monthly fee at the following annual rates of each Fund’s average daily net assets:

MFS Fund	0.90	%
Marsico Fund	0.80	%
Van Kampen Fund	0.70	%
Franklin Templeton Fund	0.40	%

The Manager entered into sub-advisory agreements on behalf of each Fund. Pursuant to the sub-advisory agreements, the Manager pays each sub-advisor for services they provide, a monthly fee that is a percentage of the Manager’s investment advisory fee at the following annual rates, based on each Fund’s average daily net assets:

	Sub-Advisor	Sub-Advisory Fee
MFS Fund	Massachusetts Financial Services Co.		0.45%
Marsico Fund	Marsico Capital Management, LLC		0.40%
Van Kampen Fund	Invesco Advisors, Inc.		0.35%
Franklin Templeton Fund	Franklin Advisers, Inc.		0.25%

The Manager voluntarily agreed to waive and/or reimburse fees or expenses, excluding interest expense, dividend expense, acquired fund fees and expenses and certain other fund expenses, in order to limit expenses as a percentage of average daily net assets:

	MFS Fund		Marsico Fund		Van Kampen Fund		Franklin Templeton Fund
Institutional Shares		1.95%		1.95%		1.95%		1.95%
Investor A Shares		2.20%		2.20%		2.20%		2.20%
Investor B Shares		2.95%		2.95%		2.95%		2.70%
Investor C Shares		2.95%		2.95%		2.95%		2.75%

The Manager may reduce or discontinue these arrangements at any time without notice. The Manager did not waive or reimburse any fees or expenses during the six months ended November 30, 2010.

For the six months ended November 30, 2010, each Fund reimbursed the Manager for certain accounting services, which are included in accounting services in the Statements of Operations. The reimbursements were as follows:

MFS Fund	$	1,155
Marsico Fund	$	1,041
Van Kampen Fund	$	1,041
Franklin Templeton Fund	$	1,579

The Corporation, on behalf of the Funds, entered into a Distribution Agreement and Distribution and Service Plan with BlackRock Investments, LLC (“BRIL”), an affiliate of BlackRock. Pursuant to the Distribution and Service Plan and in accordance with Rule 12b-1 under the 1940 Act, each Fund pays BRIL ongoing service and distribution fees. The fees are accrued daily and paid monthly at annual rates based upon the average daily net assets of the shares of each Fund as follows:

Service Fees	MFS Fund			Marsico Fund			Van Kampen Fund			Franklin Templeton Fund
Investor A		0.25	%		0.25	%		0.25	%		0.25	%
Investor B		0.25	%		0.25	%		0.25	%		0.25	%
Investor C		0.25	%		0.25	%		0.25	%		0.25	%
Distribution Fees
Investor B		0.75	%		0.75	%		0.75	%		0.50	%
Investor C		0.75	%		0.75	%		0.75	%		0.55	%

60 FDP SERIES, INC. NOVEMBER 30, 2010

Notes to Financial Statements (continued)

Pursuant to sub-agreements with BRIL, broker-dealers and BRIL provide shareholder servicing and distribution services to the Funds. The ongoing service and/or distribution fee compensates BRIL and each broker-dealer for providing shareholder servicing and/or distribution related services to Investor A, Investor B and Investor C Shareholders.

For the six months ended November 30, 2010, affiliates earned underwriting discounts, direct commissions and dealer concessions on sales of the Funds’ Investor A Shares as follows:

	Investor A
MFS Fund	$	4,043
Marsico Fund	$	3,154
Van Kampen Fund	$	2,923
Franklin Templeton Fund	$	6,465

For the six months ended November 30, 2010, affiliates received the following contingent deferred sales charges relating to transactions in Investor B and Investor C Shares.

	Investor B		Investor C
MFS Fund	$	1,697	$	4,798
Marsico Fund	$	2,293	$	3,643
Van Kampen Fund	$	1,735	$	3,377
Franklin Templeton Fund	$	1,744	$	7,534

Furthermore, affiliates received contingent deferred sale charges relating to transactions subject to front-end sales charge waivers as follows:

	Investor A
MFS Fund	$	143
Marsico Fund	$	5
Van Kampen Fund	$	4
Franklin Templeton Fund	$	7

BNY Mellon Investment Servicing (US) Inc. (formerly PNC Global Investment Servicing (U.S.) Inc. (“PNCGIS”)), serves as transfer agent and dividend disbursing agent. On July 1, 2010, the Bank of New York Mellon Corporation purchased PNCGIS, which prior to this date was an indirect, wholly owned subsidiary of PNC and an affiliate of the Manager. Transfer agency fees borne by each Fund are comprised of those fees charged for all shareholder communications including mailing of shareholder reports, dividend and distribution notices, and proxy materials for shareholder meetings, as well as per account and per transaction fees related to servicing and maintenance of shareholder accounts, including the issuing, redeeming and transferring of shares, check writing, anti-money laundering services, and customer identification services.

Certain officers and/or directors of the Corporation are officers and/or directors of BlackRock or its affiliates. The Funds reimburse the Manager for compensation paid to the Funds’ Chief Compliance Officer.

4. Investments:

Purchases and sales of investments including paydowns, mortgage dollar roll and TBA transactions and excluding short-term securities and US government securities for the six months ended November 30, 2010, were as follows:

	Purchases		Sales
MFS Fund	$	25,499,649	$	29,790,101
Marsico Fund	$	33,771,814	$	38,332,708
Van Kampen Fund	$	10,415,160	$	17,935,139
Franklin Templeton Fund	$	124,388,258	$	123,555,661

For the six months ended November 30, 2010, purchases and sales of US government securities for Franklin Templeton Fund, were $18,855,765 and $11,365,462, respectively.

For the six months ended November 30, 2010, Franklin Templeton Fund purchased $2,131,250 of mortgage dollar rolls.

5. Capital Loss Carryforwards:

As of May 31, 2010, the Funds had capital loss carryforwards available to offset future realized capital gains through the indicated expiration dates:

Expires May 31,	MFS Fund		Marsico Fund		Van Kampen Fund		Franklin Templeton Fund
2015		—	$	800,231		—		—
2016		—		722,955		—		—
2017	$	12,848,930		21,692,898	$	12,942,826	$	4,564,511
2018		30,473,505		10,698,920		25,222,993		1,651,733
Total	$	43,322,435	$	33,915,004	$	38,165,819	$	6,216,244

FDP SERIES, INC. NOVEMBER 30, 2010 61

Notes to Financial Statements (continued)

6. Borrowings:

The Corporation, on behalf of the Funds, along with certain other funds managed by the Manager and its affiliates, is a party to a $500 million credit agreement with a group of lenders, which expired in November 2010. The Funds may borrow under the credit agreement to fund shareholder redemptions. Effective November 2009, the credit agreement had the following terms: 0.02% upfront fee on the aggregate commitment amount which was allocated to each Fund based on its net assets as of October 31, 2009, a commitment fee of 0.10% per annum based on each Fund’s pro rata share of the unused portion of the credit agreement, and interest at a rate equal to the higher of (a) the one-month LIBOR plus 1.25% per annum and (b) the Fed Funds rate plus 1.25% per annum on amounts borrowed. In addition, each Fund paid administration and arrangement fees which were allocated to each Fund based on its net assets as of October 31, 2009. Effective November 2010, the credit agreement was renewed until November 2011 with the following terms: a commitment fee of 0.08% per annum based on each Fund’s pro rata share of the unused portion of the credit agreement and interest at a rate equal to the higher of (a) the one-month LIBOR plus 1.00% per annum and (b) the Fed Funds rate plus 1.00% per annum on amounts borrowed. In addition, each Fund paid administration and arrangement fees which were allocated to each Fund based on its net assets as of October 31, 2010. The Funds did not borrow under the credit agreement during the six months ended November 30, 2010.

7. Commitments:

Franklin Templeton Fund may invest in floating rate loan interests. In connection with these investments, the Fund may also enter into unfunded loan commitments (“commitments”). Commitments may obligate the Fund to furnish temporary financing to a borrower until permanent financing can be arranged. In connection with these commitments, the Fund earns a commitment fee, typically set as a percentage of the commitment amount. Such fee income, which is classified in the Statements of Operations as facility and other fees, is recognized ratably over the commitment period. As of November 30, 2010, the fund had the following unfunded loan commitments:

Borrower	Unfunded Commitment		Value of Underlying Loan
Valeant Pharmaceuticals	$	30,094	$	30,410

8. Concentration, Market and Credit Risk:

In the normal course of business, the Funds invest in securities and enter into transactions where risks exist due to fluctuations in the market (market risk) or failure of the issuer of a security to meet all its obligations (issuer credit risk). The value of securities held by the Funds may decline in response to certain events, including those directly involving the issuers whose securities are owned by the Funds; conditions affecting the general economy; overall market changes; local, regional or global political, social or economic instability; and currency and interest rate and price fluctuations. Similar to issuer credit risk, the Funds may be exposed to counterparty credit risk, or the risk that an entity with which the Funds have unsettled or open transactions may fail to or be unable to perform on its commitments. The Funds manage counterparty credit risk by entering into transactions only with counterparties that they believe have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds’ exposure to market, issuer and counterparty credit risks with respect to these financial assets is generally approximated by their value recorded in the Funds’ Statements of Assets and Liabilities, less any collateral held by the Funds.

MFS Fund invests a substantial amount of its assets in issuers located in a single country or a limited number of countries. When the MFS Fund concentrates its investments in this manner, it assumes the risk that economic, political and social conditions in those countries may have a significant impact on their investment performance. Please see the Schedule of Investments for concentrations in specific countries.

As of November 30, 2010, MFS Fund invested a significant portion of their assets in securities in the financials sector. Marsico Fund invested a significant portion of its assets in securities in the consumer discretionary sector. Changes in economic conditions affecting the financials and consumer discretionary sectors would have a greater impact on the Funds and could affect the value, income and/or liquidity of positions in such securities.

As of November 30, 2010, MFS Fund had the following industry classifications:

Industry	Percent of Long-Term Investments
Commercial Banks	15	%
Oil, Gas & Consumable Fuels	7
Metals & Mining	5
Pharmaceuticals	5
Industrial Conglomerates	5
Food Products	5
Other*	58

* All other industries held were each less than 5% of long-term investments.

Franklin Templeton Fund invests a significant portion of its assets in securities backed by commercial or residential mortgage loans or in issuers that hold mortgage and other asset-backed securities. Please see the Schedule of Investments for these securities. Changes in economic conditions, including delinquencies and/or defaults on assets underlying these securities, can affect the value, income and/or liquidity of such positions.

62 FDP SERIES, INC. NOVEMBER 30, 2010

Notes to Financial Statements (continued)

9. Capital Share Transactions:

Transactions in capital shares for each class were as follows:

	Six Months Ended November 30, 2010						Year Ended May 31, 2010
MFS Fund	Shares			Amount			Shares			Amount
Institutional
Shares sold		44,325		$	446,393			53,708		$	520,974
Shares issued to shareholders in reinvestment of dividends		4,027			38,054			4,176			36,956
Total issued		48,352			484,447			57,884			557,930
Shares redeemed		(31,613	)		(313,490	)		(72,006	)		(686,862	)
Net increase (decrease)		16,739		$	170,957			(14,122	)	$	(128,932	)
Investor A
Shares sold and automatic conversion of shares		353,773		$	3,396,548			505,594		$	4,899,142
Shares issued to shareholders in reinvestment of dividends		31,295			294,791			32,550			287,418
Total issued		385,068			3,691,339			538,144			5,186,560
Shares redeemed		(373,330	)		(3,660,461	)		(749,248	)		(7,100,327	)
Net increase (decrease)		11,738		$	30,878			(211,104	)	$	(1,913,767	)
Investor B
Shares sold		6,450		$	59,728			14,141		$	135,764
Shares issued to shareholders in reinvestment of dividends		556			5,249			733			6,467
Total issued		7,006			64,977			14,874			142,231
Shares redeemed and automatic conversion of shares		(39,259	)		(383,826	)		(111,389	)		(1,050,823	)
Net decrease		(32,253	)	$	(318,849	)		(96,515	)	$	(908,592	)
Investor C
Shares sold		794,638		$	7,571,924			1,822,154		$	17,467,501
Shares issued to shareholders in reinvestment of dividends		56,835			532,519			53,743			471,863
Total issued		851,473			8,104,443			1,875,897			17,939,364
Shares redeemed		(1,209,836	)		(11,916,397	)		(2,861,646	)		(26,923,726	)
Net decrease		(358,363	)	$	(3,811,954	)		(985,749	)	$	(8,984,362	)

There is a 2% redemption fee on shares redeemed or exchanged that have been held for 30 days or less. The redemption fees are collected and retained by the Fund for the benefit of the remaining shareholders. The redemption fees are recorded as a credit to paid-in capital.

	Six Months Ended November 30, 2010						Year Ended May 31, 2010
Marsico Fund	Shares			Amount			Shares			Amount
Institutional
Shares sold		29,029		$	304,174			40,464		$	386,984
Shares redeemed		(25,258	)		(259,257	)		(54,737	)		(511,866	)
Net increase (decrease)		3,771		$	44,917			(14,273	)	$	(124,882	)
Investor A
Shares sold and automatic conversion of shares		246,281		$	2,463,486			353,853		$	3,342,295
Shares redeemed		(262,663	)		(2,661,561	)		(539,641	)		(5,113,269	)
Net decrease		(16,382	)	$	(198,075	)		(185,788	)	$	(1,770,974	)

FDP SERIES, INC. NOVEMBER 30, 2010 63

Notes to Financial Statements (continued)

	Six Months Ended November 30, 2010						Year Ended May 31, 2010
Marsico Fund (concluded)	Shares			Amount			Shares			Amount
Investor B
Shares sold		2,036		$	18,818			11,162		$	99,895
Shares redeemed and automatic conversion of shares		(33,778	)		(328,204	)		(86,647	)		(784,734	)
Net decrease		(31,742	)	$	(309,386	)		(75,485	)	$	(684,839	)
Investor C
Shares sold		528,715		$	5,097,974			1,350,869		$	12,412,130
Shares redeemed		(943,896	)		(9,271,804	)		(2,256,325	)		(20,552,972	)
Net decrease		(415,181	)	$	(4,173,830	)		(905,456	)	$	(8,140,842	)
Van Kampen Fund
Institutional
Shares sold		21,608		$	188,336			43,631		$	366,766
Shares issued to shareholders in reinvestment of dividends		—			—			2,201			16,487
Total issued		21,608			188,336			45,832			383,253
Shares redeemed		(27,241	)		(239,606	)		(71,110	)		(584,467	)
Net decrease		(5,633	)	$	(51,270	)		(25,278	)	$	(201,214	)
Investor A
Shares sold and automatic conversion of shares		267,297		$	2,340,851			373,071		$	3,111,853
Shares issued to shareholders in reinvestment of dividends		7,192			61,707			16,379			122,675
Total issued		274,489			2,402,558			389,450			3,234,528
Shares redeemed		(257,456	)		(2,260,573	)		(683,576	)		(5,654,440	)
Net increase (decrease)		17,033		$	141,985			(294,126	)	$	(2,419,912	)
Investor B
Shares sold		2,450		$	20,963			10,731		$	89,818
Shares issued to shareholders in reinvestment of dividends		—			—			946			7,079
Total issued		2,450			20,963			11,677			96,897
Shares redeemed and automatic conversion of shares		(40,188	)		(348,571	)		(110,668	)		(905,169	)
Net decrease		(37,738	)	$	(327,608	)		(98,991	)	$	(808,272	)
Investor C
Shares sold		581,515		$	5,039,384			1,316,430		$	10,980,372
Shares issued to shareholders in reinvestment of dividends		22,204			188,503			41,295			308,064
Total issued		603,719			5,227,887			1,357,725			11,288,436
Shares redeemed		(970,221	)		(8,465,765	)		(2,698,002	)		(22,155,964	)
Net decrease		(366,502	)	$	(3,237,878	)		(1,340,277	)	$	(10,867,528	)

64 FDP SERIES, INC. NOVEMBER 30, 2010

Notes to Financial Statements (concluded)

	Six Months Ended November 30, 2010						Year Ended May 31, 2010
Franklin Templeton Fund	Shares			Amount			Shares			Amount
Institutional
Shares sold		36,815		$	372,992			65,905		$	628,320
Shares issued to shareholders in reinvestment of dividends		5,145			52,426			10,854			104,238
Total issued		41,960			425,418			76,759			732,558
Shares redeemed		(28,409	)		(287,635	)		(49,277	)		(469,452	)
Net increase		13,551		$	137,783			27,482		$	263,106
Investor A
Shares sold and automatic conversion of shares		466,084		$	4,717,779			836,383		$	7,983,963
Shares issued to shareholders in reinvestment of dividends		52,287			532,816			110,741			1,064,258
Total issued		518,371			5,250,595			947,124			9,048,221
Shares redeemed		(523,358	)		(5,270,664	)		(582,310	)		(5,562,797	)
Net increase (decrease)		(4,987	)	$	(20,069	)		364,814		$	3,485,424
Investor B
Shares sold		5,556		$	56,771			28,486		$	273,002
Shares issued to shareholders in reinvestment of dividends		3,249			33,080			8,246			79,167
Total issued		8,805			89,851			36,732			352,169
Shares redeemed and automatic conversion of shares		(44,917	)		(454,028	)		(56,428	)		(536,304	)
Net decrease		(36,112	)	$	(364,177	)		(19,696	)	$	(184,135	)
Investor C
Shares sold		999,217		$	10,150,428			3,159,818		$	30,312,557
Shares issued to shareholders in reinvestment of dividends		169,689			1,728,754			372,147			3,575,073
Total issued		1,168,906			11,879,182			3,531,965			33,887,630
Shares redeemed		(1,506,865	)		(15,255,562	)		(2,904,627	)		(27,658,689	)
Net increase (decrease)		(337,959	)	$	(3,376,380	)		627,338		$	6,228,941

10. Subsequent Events:

Management’s evaluation of the impact of all subsequent events on the Funds’ financial statements was completed through the date the financial statements were issued and the following items were noted:

Van Kampen Fund paid a net investment income dividend on December 3, 2010 to shareholders of record on December 1, 2010 as follows:

	Dividend Per Share
Institutional	$        0.059064
Investor A	$        0.046266
Investor C	$        0.005672

FDP SERIES, INC. NOVEMBER 30, 2010 65

Officers and Directors

Robert M. Hernandez, Chairman of the Board and Director

Fred G. Weiss, Vice Chairman of the Board and Director

James H. Bodurtha, Director

Bruce R. Bond, Director

Donald W. Burton, Director

Richard S. Davis, Director

Stuart E. Eizenstat, Director

Laurence D. Fink, Director

Kenneth A. Froot, Director

Henry Gabbay, Director

John F. O’Brien, Director

Roberta Cooper Ramo, Director

David H. Walsh, Director

Richard R. West, Director and Member of the Audit Committee

John M. Perlowski, President and Chief Executive Officer

Brendan Kyne, Vice President

Brian Schmidt, Vice President

Neal Andrews, Chief Financial Officer

Jay Fife, Treasurer

Brian Kindelan, Chief Compliance Officer of the Fund

Ira Shapiro, Secretary

Investment Advisor

BlackRock Advisors, LLC

Wilmington, DE 19809

Sub-Advisors

Massachusetts Financial Services Company

Boston, MA 02116

Marsico Capital Management, LLC

Denver, CO 80202

Invesco Advisors, Inc.

Atlanta, GA 30309

Franklin Advisers, Inc.

San Mateo, CA 94403

Custodian

Brown Brothers Harriman & Co.

Boston, MA 02109

Transfer Agent

BNY Mellon Investment Servicing (US) Inc.

Wilmington, DE 19809

Accounting Agent

State Street Bank and Trust Company

Princeton, NJ 08540

Distributor

BlackRock Investments, LLC

New York, NY 10022

Independent Registered Public Accounting Firm

Deloitte & Touche LLP

Princeton, NJ 08540

Legal Counsel

Willkie Farr & Gallagher LLP

New York, NY 10019

Address of the Funds

100 Bellevue Parkway

Wilmington, DE 19809

Effective September 15, 2010, John M. Perlowski became President and Chief Executive Officer of the Funds.

Effective November 10, 2010, Ira Shapiro became Secretary of the Funds.

66 FDP SERIES, INC. NOVEMBER 30, 2010

Additional Information

General Information

Electronic Delivery

Electronic copies of most financial reports and prospectuses are available on the Funds’ website or shareholders can sign up for e-mail notifications of quarterly statements, annual and semi-annual reports and prospectuses by enrolling in the Funds’ electronic delivery program.

To enroll:

Shareholders Who Hold Accounts with Investment Advisors, Banks or Brokerages:

Please contact your financial advisor. Please note that not all investment advisors, banks or brokerages may offer this service.

Shareholders Who Hold Accounts Directly with BlackRock:

1)	Access the BlackRock website at http://www.blackrock.com/edelivery
2)	Select “eDelivery” under the “More Information” section
3)	Log into your account

Householding

The Funds will mail only one copy of shareholder documents, including prospectuses, annual and semi-annual reports and proxy statements, to shareholders with multiple accounts at the same address. This practice is commonly called “householding” and is intended to reduce expenses and eliminate duplicate mailings of shareholder documents. Mailings of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please call (800) 441-7762.

Availability of Quarterly Portfolio Schedule of Investments

The Funds file their complete schedule of portfolio holdings with the Securities and Exchange Commission (the “SEC”) for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Forms N-Q are available on the SEC’s website at http://www.sec.gov and may also be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C. Information on the operation of the Public Reference Room may be obtained by calling (202) 551-8090. The Funds’ Forms N-Q may also be obtained upon request and without charge by calling (800) 441-7762.

Availability of Proxy Voting Policies and Procedures

A description of the policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities is available (1) without charge, upon request, by calling (800) 441-7762; (2) at http://www.blackrock.com; and (3) on the SEC’s website at http://www.sec.gov.

Availability of Proxy Voting Record

Information about how the Funds voted proxies relating to securities held in the Funds’ portfolios during the most recent 12-month period ended June 30 is available upon request and without charge (1) at http://www.blackrock.com or by calling (800) 441-7762 and (2) on the SEC’s website at http://www.sec.gov.

FDP SERIES, INC. NOVEMBER 30, 2010 67

Additional Information (continued)

Shareholder Privileges

Account Information

Call us at (800) 441-7762 from 8:00 AM to 6:00 PM EST on any business day to get information about your account balances, recent transactions and share prices. You can also reach us on the Web at http://www.blackrock.com/funds.

Automatic Investment Plans

Investor Class shareholders who want to invest regularly can arrange to have $50 or more automatically deducted from their checking or savings account and invested in any of the BlackRock funds.

Systematic Withdrawal Plans

Investor Class shareholders can establish a systematic withdrawal plan and receive periodic payments of $50 or more from their BlackRock funds, as long as their account balance is at least $10,000.

Retirement Plans

Shareholders may make investments in conjunction with Traditional, Rollover, Roth, Coverdell, Simple IRAs, SEP IRAs and 403(b) Plans.

68 FDP SERIES, INC. NOVEMBER 30, 2010

Additional Information (concluded)

BlackRock Privacy Principles

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If you are located in a jurisdiction where specific laws, rules or regulations require BlackRock to provide you with additional or different privacy-related rights beyond what is set forth below, then BlackRock will comply with those specific laws, rules or regulations.

BlackRock obtains or verifies personal non-public information from and about you from different sources, including the following: (i) information we receive from you or, if applicable, your financial intermediary, on applications, forms or other documents; (ii) information about your transactions with us, our affiliates, or others; (iii) information we receive from a consumer reporting agency; and (iv) from visits to our websites.

BlackRock does not sell or disclose to non-affiliated third parties any non-public personal information about its Clients, except as permitted by law or as is necessary to respond to regulatory requests or to service Client accounts. These non-affiliated third parties are required to protect the confidentiality and security of this information and to use it only for its intended purpose.

We may share information with our affiliates to service your account or to provide you with information about other BlackRock products or services that may be of interest to you. In addition, BlackRock restricts access to non-public personal information about its Clients to those BlackRock employees with a legitimate business need for the information. BlackRock maintains physical, electronic and procedural safeguards that are designed to protect the non-public personal information of its Clients, including procedures relating to the proper storage and disposal of such information.

FDP SERIES, INC. NOVEMBER 30, 2010 69

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*	See the prospectus for information on specific limitations on investments in the fund.
†	Mixed asset fund.

BlackRock mutual funds are currently distributed by BlackRock Investments, LLC. You should consider the investment objectives, risks, charges and expenses of the funds under consideration carefully before investing. Each fund’s prospectus contains this and other information and is available at www.blackrock.com or by calling (800) 441-7762 or from your financial advisor. The prospectus should be read carefully before investing.

70 FDP SERIES, INC. NOVEMBER 30, 2010

This report is not authorized for use as an offer of sale or a solicitation of an offer to buy shares of the Funds unless accompanied or preceded by the Funds’ current prospectus. Past performance results shown in this report should not be considered a representation of future performance. Investment return and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Statements and other information herein are as dated and are subject to change.

#FDPS-11/10

Item 2 –	Code of Ethics – Not Applicable to this semi-annual report
Item 3 –	Audit Committee Financial Expert – Not Applicable to this semi-annual report
Item 4 –	Principal Accountant Fees and Services – Not Applicable to this semi-annual report
Item 5 –	Audit Committee of Listed Registrants – Not Applicable
Item 6 –	Investments
	(a) The registrant’s Schedule of Investments is included as part of the Report to Stockholders filed under Item 1 of this Form.
	(b) Not Applicable due to no such divestments during the semi-annual period covered since the previous Form N-CSR filing.
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 – The registrant’s Nominating and Governance Committee will consider nominees to the board of directors recommended by shareholders when a vacancy becomes available. Shareholders who wish to recommend a nominee should send nominations that include biographical information and set forth the qualifications of the proposed nominee to the registrant’s Secretary. There have been no material changes to these procedures.
Item 11 –	Controls and Procedures
11(a) –	The registrant’s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 15d-15(b) under the Securities Exchange Act of 1934, as amended.
11(b) –	There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12 –	Exhibits attached hereto
12(a)(1) –	Code of Ethics – Not Applicable to this semi-annual report
12(a)(2) –	Certifications – Attached hereto
12(a)(3) –	Not Applicable
12(b) –	Certifications – Attached hereto

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.
FDP Series, Inc.
By:	/s/ John M. Perlowski
	John M. Perlowski
	Chief Executive Officer (principal executive officer) of
	FDP Series, Inc.
Date: February 2, 2011
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.
By:	/s/ John M. Perlowski
	John M. Perlowski
	Chief Executive Officer (principal executive officer) of
	FDP Series, Inc.
Date: February 2, 2011
By:	/s/ Neal J. Andrews
	Neal J. Andrews
	Chief Financial Officer (principal financial officer) of
	FDP Series, Inc.
Date: February 2, 2011