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FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Report for six month period ending: / / (a)
or fiscal year ending: 12/31/98 (b)
Is this an amendment to a previous filing? (Y/N): N
Those items or sub-items with a box "/X/" after the item number should be
completed only if the answer has changed from the previous filing on this form.
- -------------------------------------------------------------------------------
1. A. Registrant Name: Security Equity Separate Account 26
B. File Number: 811-8888
C. Telephone Number: (914) 273-1290
2. A. Street: 84 Business Park Drive
B. City: Armonk C. State: NY D. Zip Code: 10504 Zip Ext.:
E. Foreign Country Foreign Postal Code:
3. Is this the first filing on this form by the Registrant? (Y/N) ----- N
4. Is this the last filing on this form by the Registrant? (Y/N) ------ N
5. Is Registrant a small business investment company (SBIC)? (Y/N) ---- N
[If answer is "Y" (Yes), complete only items 89 through 110.]
6. Is Registrant a unit investment trust (UIT)? (Y/N) ----------------- Y
[If answer is "Y" (Yes), complete only items 111 through 132.]
7. A. Is Registrant a series or multiple portfolio company? (Y/N) -----
[If answer is "N" (No), go to items 8.]
B. How many separate series or portfolios did Registrant have
at the end of the period? ---------------------------------------
SCREEN NUMBER: 01 PAGE NUMBER: 01 NEXT SCREEN:
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For period ending 12-31-98 If filing more than one
File number 811-8888 Page 44, "X" box: / /
113. A. /X/ Trustee Name:
B. /X/ City: State: Zip Code: Zip Ext.:
Foreign Country: Foreign Postal Code:
113. A. /X/ Trustee Name:
B. /X/ City: State: Zip Code: Zip Ext.:
Foreign Country: Foreign Postal Code:
114. A. /X/ Principal Underwriter Name: G.T. Global Financial Services, Inc.
B. /X/ File Number: 8-37656
C. /X/ City: San Francisco State: CA Zip Code: 94111 Zip Ext.:
Foreign Country: Foreign Postal Code:
114. A. /X/ Principal Underwriter Name:
B. /X/ File Number: 8-
C. /X/ City: State: Zip Code: Zip Ext.:
Foreign Country: Foreign Postal Code:
115. A. /X/ Independent Public Accountant Name: KPMG LLP
B. /X/ City: St. Louis State: MO Zip Code: 63101 Zip Ext.:
Foreign Country: Foreign Postal Code:
115. A. /X/ Independent Public Accountant Name:
B. /X/ City: State: Zip Code: Zip Ext.:
Foreign Country: Foreign Postal Code:
PAGE NUMBER: 44
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For period ending 12-31-98 If filing more than one
File number 811-8888 Page 45, "X" box: / /
116. Family of investment companies information:
A. /X/ Is Registrant part of a family of investment companies? (Y/N)---Y
B. /X/ Identify the family using 10 letters: S E S A 2 6 G T G L
(NOTE: In filing this form, use this identification consistently for
all investment companies in family. This designation is for
purposes of this form only.)
117. A. /X/ Is Registrant a separate account of an insurance company? (Y/N)--Y
If answer is "Y" (Yes), are any of the following types
of contracts funded by the Registrant:
B. /X/ Variable annuity contracts? (Y/N)--------------------------------Y
C. /X/ Scheduled premium variable life contracts? (Y/N)-----------------N
D. /X/ Flexible premium variable life contracts? (Y/N)------------------N
E. /X/ Other types of insurance products registered under
the Securities Act of 1933? (Y/N)--------------------------------N
118. /X/ State the number of series existing at the end of the period that
had securities registered under the Securities Act of 1933 ------ 4
119. /X/ State the number of new series for which registration statements under
the Securities Act of 1933 became effective during the period --- 0
120. /X/ State the total value of portfolio securities on the date of deposit
for the new series included in item 119 ($000's omitted) -------- $ 0
121. /X/ State the number of series for which a current prospectus was in
existence at the period end ------------------------------------- 4
122. /X/ State the number of existing series for which additional units
were registered under the Securities Act of 1933 during the
current period ------------------------------------------------- 0
PAGE NUMBER: 45
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For period ending 12-31-98 If filing more than one
File number 811-8888 Page 46, "X" box: / /
123. /X/ State the total value of the additional units considered in
answering item 122 ($000's omitted) --------------------------- $ 0
124. /X/ State the total value of units of prior series that were placed
in the portfolios of subsequent series during the current period
(the value of these units is to be measured on the date they were
placed in the subsequent series)($000's omitted) -------------- $ 0
125. /X/ State the total dollar amount of sales loads collected (before
reallowances to other brokers or dealers) by Registrant's principal
underwriter and any underwriter which is an affiliated person of
the principal underwriter during the current period solely from
the sale of units of all series of Registrant ($000's omitted) $ 0
126. Of the amount shown in item 125, state the total dollar amount of
sales loads collected from secondary market operations in
Registrant's units (include the sales loads, if any, collected on
units of a prior series placed in the portfolio of a subsequent
series). ($000's omitted) ----------------------------------------- $ 0
127. List opposite the appropriate description below the number of series
whose portfolios are invested primarily (based upon percentage of NAV) in
each type of security shown, the aggregate total assets at market
value as of a date at or near the end of the current period of each
such group of series and the total income distributions made by each
such group of series during the current period (excluding
distributions of realized gains, if any):
<TABLE>
<CAPTION>
Number of Total Assets Total Income
Series ($000's Distributions
Investing omitted) ($000's omitted)
--------- ------------ ----------------
<S> <C> <C> <C>
A. U.S. Treasury direct issue ------------------ $ $
B. U.S. Government agency ---------------------- $ $
C. State and municipal tax-free ---------------- $ $
D. Public utility debt ------------------------- $ $
E. Brokers or dealers debt or debt of brokers'
or dealers' parent ------------------------- $ $
F. All other corporate intermed. & long-term
debt --------------------------------------- $ $
G. All other corporate short-term debt --------- $ $
H. Equity securities of brokers or dealers or
parents of brokers or dealers -------------- $ $
I. Investment company equity securities -------- 3 $ 867 $
J. All other equity securities ----------------- $ $
K. Other securities ---------------------------- $ $
----------
L. Total assets of all series of Registrant ---- $ 867 $
</TABLE>
PAGE NUMBER: 46
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<PAGE> 4
For period ending 12-31-98 If filing more than one
File number 811-8888 Page 47, "X" box: / /
128. /X/ Is the timely payment of principal and interest on any of the
portfolio securities held by any of Registrant's series at the
end of the current period insured or guaranteed by an entity
other than the issuer? (Y/N) ----------------------------------- N
[If answer is "N" (No), go to item 131.]
129. /X/ Is the issuer of any instrument covered in item 128 delinquent or
in default as to payment of principal or interest at the end of
the current period? (Y/N) --------------------------------------
[If answer is "N" (No), go to item 131.]
130. /X/ In computations of NAV or offering price per unit, is any part of
the value attributed to instruments identified in item 129 derived
from insurance or guarantees? (Y/N) ----------------------------
131. Total expenses incurred by all series of Registrant during the
current reporting period ($000's omitted) --------------------------$ 13
132. /X/ List the "811" (Investment Company Act of 1940) registration number
for all Series of Registrant that are being included in this filing:
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
PAGE NUMBER: 47
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NAME> Sep. Acct. 26 - Money Market
<NUMBER> 1
<MULTIPLIER> 1000
<S> <C>
<PERIOD-START> JAN-01-1998
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 185
<INVESTMENTS-AT-VALUE> 185
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 185
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 185
<SHARES-COMMON-PRIOR> 229
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 185
<DIVIDEND-INCOME> 17
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> (5)
<NET-INVESTMENT-INCOME> 12
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 12
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (7)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NAME> Sep. Acct. 26 - Var. Strategic Income
<NUMBER> 2
<MULTIPLIER> 1000
<S> <C>
<PERIOD-START> JAN-01-1998
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 641
<INVESTMENTS-AT-VALUE> 655
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 655
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8
<TOTAL-LIABILITIES> 8
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 53
<SHARES-COMMON-PRIOR> 48
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 654
<DIVIDEND-INCOME> 63
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> (7)
<NET-INVESTMENT-INCOME> 56
<REALIZED-GAINS-CURRENT> (82)
<APPREC-INCREASE-CURRENT> 19
<NET-CHANGE-FROM-OPS> (7)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (2)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NAME> Sep. Acct. 26 - Var. U.S. Gov. Income
<NUMBER> 3
<MULTIPLIER> 1000
<S> <C>
<PERIOD-START> JAN-01-1998
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 27
<INVESTMENTS-AT-VALUE> 27
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 27
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 2
<SHARES-COMMON-PRIOR> 3
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 27
<DIVIDEND-INCOME> 7
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> (1)
<NET-INVESTMENT-INCOME> 6
<REALIZED-GAINS-CURRENT> 14
<APPREC-INCREASE-CURRENT> (1)
<NET-CHANGE-FROM-OPS> 19
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (5)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NAME> Sep. Acct. 26 - Var. Global Gov. Income
<NUMBER> 4
<MULTIPLIER> 1000
<S> <C>
<PERIOD-START> JAN-01-1998
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 0
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
