9AT: SECURIAN ASSET MANAGEMENT, INC.

SECURIAN ASSET MANAGEMENT, INC.

other names

SECURIAN ASSET MANAGEMENT, INC.
ADVANTUS CAPITAL MANAGEMENT CO/MN
ADVANTUS CAPITAL MANAGEMENT, INC.
ADVANTUS CAPITAL MANAGEMENT INC

Adviser Profile

As of Date	07/21/2025
ADV Location	ST PAUL, MN, United States
Adviser Type - Large advisory firm - An investment adviser (or subadviser) to an investment company
Number of Employees	86 -1%
of those in investment advisory functions	35 46%
Registration	SEC, Approved, 09/16/1994

AUM^*	43,813,613,953 2%
of that, discretionary	43,120,911,007 2%
Private Fund GAV^*	0
Avg Account Size	113,213,473 -3%
SMA’s	Yes
Private Funds	0
Contact Info	651 xxxxxxx
Websites

Client Types

- Investment companies
- Pension and profit sharing plans
- Charitable organizations
- Insurance companies
- Corporations or other businesses not listed above

Advisory Activities

- Portfolio management for investment companies
- Portfolio management for businesses
- Selection of other advisers

Compensation Arrangments

- A percentage of assets under your management
- Fixed fees (other than subscription fees)

Reported AUM

53B 46B 38B 31B 23B 15B 8B

2015 2016 2017 2018 2019 2020 2021 2022 2023

Discretionary

Non-discretionary

Private Funds

No private funds

Employees

Top Holdings

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker464287200	Stock NameISHARES TR	$ Position$160,734,870	% Position6.00%	$ Change-28.00%	# Change-30.00%
Stck Ticker922908363	Stock NameVANGUARD INDEX FDS	$ Position$151,282,570	% Position6.00%	$ Change314.00%	# Change305.00%
Stck Ticker67066G104	Stock NameNVIDIA CORPORATION	$ Position$123,232,486	% Position5.00%	$ Change-45.00%	# Change-45.00%
Stck Ticker594918104	Stock NameMICROSOFT CORP	$ Position$97,740,086	% Position4.00%	$ Change-49.00%	# Change-45.00%
Stck Ticker037833100	Stock NameAPPLE INC	$ Position$109,232,804	% Position4.00%	$ Change-40.00%	# Change-44.00%
Stck Ticker46429B663	Stock NameISHARES TR	$ Position$91,791,471	% Position3.00%	$ Change-4.00%	# Change-3.00%
Stck Ticker46429B689	Stock NameISHARES TR	$ Position$68,980,076	% Position3.00%	$ Change0.00%	# Change-2.00%
Stck Ticker46429B697	Stock NameISHARES TR	$ Position$81,946,224	% Position3.00%	$ Change-5.00%	# Change-4.00%
Stck Ticker02079K107	Stock NameALPHABET INC	$ Position$39,677,813	% Position2.00%	$ Change-28.00%	# Change-44.00%
Stck Ticker02079K305	Stock NameALPHABET INC	$ Position$49,517,539	% Position2.00%	$ Change-28.00%	# Change-44.00%

Brochure Summary

Overview

Securian Asset Management (“Securian AM”) has been in business since 1984. Securian Financial Group, Inc. (“Securian Financial”) owns 100% of Securian AM. Securian Financial is 100% owned by Securian Holding Company. Securian Holding Company is 100% owned by Minnesota Mutual Companies, Inc. Securian AM offers discretionary and non-discretionary asset management for registered investment companies, insurance companies, including separate accounts of insurance companies, and other institutional investors primarily with respect to:
• fixed income investments including, but not limited to, government, municipal, mortgage- backed (including government or government agency mortgage loan pools or private mortgage loan pools, collateralized mortgage obligations, commercial mortgage-backed securities, mortgage pass-throughs), high-yield, asset-backed and corporate securities,
• equity securities that track indices such as the S&P 500® Index,
• strategies that focus on stabilizing equity returns,
• alternative assets, including mezzanine debt, venture capital, distressed debt, private equity, and co-investment,
• selection of sub-advisers to manage other asset types,
• investment grade private credit, and
• derivative instruments and strategies for hedging purposes. Securian AM specializes

in the investment types noted above. In addition to the advisory services provided above, Securian AM originates and services commercial mortgage loans for clients. Securian AM does not consider its commercial mortgage loan origination or servicing activities to be advisory services, as loans are not securities. Securian AM tailors its advisory services to the particular needs of its clients, taking into account the goals of each client. Securian AM accepts limited mandates from clients in particular asset classes or mandates limited by criteria such as duration, industry or credit quality. Some clients may limit the discretionary authority of Securian AM, and may impose restrictions on investing in certain securities or types of securities. For example, certain clients impose sale restrictions limiting losses that can be taken by Securian AM without discussion with the client. Securian AM does not participate in wrap fee programs. Securian AM does not provide class action monitoring or filing services for its clients unless it has specifically agreed to do so in writing. The amount of client assets Securian AM managed as of December 31, 2023 was $44,143,930,186. The breakdown between discretionary and non-discretionary assets was: Discretionary: $ 43,390,730,968 Non-Discretionary: $ 753,199,218 . 5