Asset Allocation

As of December 31, 2025.
Type % Net
Cash 5.07%
Stock 0.00%
Bond 91.49%
Convertible 0.00%
Preferred 0.00%
Other 3.44%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 81.19%
Corporate 10.53%
Securitized 0.00%
Municipal 0.00%
Other 8.28%
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Region Exposure

% Developed Markets: 15.88%    % Emerging Markets: 70.24%    % Unidentified Markets: 13.88%

Americas 26.18%
8.97%
Canada 0.08%
United States 8.89%
17.21%
Argentina 3.49%
Venezuela 1.31%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 43.48%
United Kingdom 3.43%
2.45%
Ireland 0.05%
Netherlands 2.41%
1.29%
36.31%
Egypt 3.32%
Nigeria 3.18%
United Arab Emirates 0.16%
Greater Asia 16.46%
Japan 0.00%
0.00%
0.00%
16.46%
Kazakhstan 3.36%
Pakistan 3.33%
Philippines 0.69%
Unidentified Region 13.88%

Bond Credit Quality Exposure

AAA 3.01%
AA 2.43%
A 0.00%
BBB 2.99%
BB 11.03%
B 25.34%
Below B 15.59%
    CCC 14.57%
    CC 0.00%
    C 0.88%
    DDD 0.00%
    DD 0.00%
    D 0.15%
Not Rated 1.53%
Not Available 38.08%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
18.91%
Less than 1 Year
18.91%
Intermediate
62.65%
1 to 3 Years
19.78%
3 to 5 Years
14.37%
5 to 10 Years
28.50%
Long Term
18.44%
10 to 20 Years
9.38%
20 to 30 Years
9.06%
Over 30 Years
0.00%
Other
0.00%
As of December 31, 2025
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