Asset Allocation

As of December 31, 2025.
Type % Net
Cash 5.41%
Stock 0.88%
Bond 83.26%
Convertible 0.51%
Preferred 0.78%
Other 9.15%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 42.80%
Corporate 46.55%
Securitized 0.00%
Municipal 0.00%
Other 10.66%
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Region Exposure

% Developed Markets: 78.79%    % Emerging Markets: 6.43%    % Unidentified Markets: 14.78%

Americas 57.13%
53.63%
Canada 17.19%
United States 36.44%
3.50%
Argentina 0.35%
Mexico 2.21%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 22.15%
United Kingdom 2.06%
16.95%
Belgium 1.70%
Denmark 0.12%
France 0.04%
Germany 6.87%
Italy 0.64%
Netherlands 0.98%
Norway 1.04%
Portugal 1.38%
Spain 3.52%
Switzerland 0.33%
1.44%
Poland 0.22%
1.70%
Israel 0.01%
South Africa 1.55%
Greater Asia 5.95%
Japan 1.02%
4.43%
Australia 2.78%
0.30%
Hong Kong 0.06%
Singapore 0.22%
South Korea 0.03%
0.20%
China 0.02%
Philippines 0.17%
Unidentified Region 14.78%

Bond Credit Quality Exposure

AAA 19.72%
AA 10.07%
A 3.18%
BBB 8.04%
BB 17.58%
B 13.92%
Below B 3.98%
    CCC 3.90%
    CC 0.00%
    C 0.08%
    DDD 0.00%
    DD 0.00%
    D 0.00%
Not Rated 0.08%
Not Available 23.43%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
3.12%
Less than 1 Year
3.12%
Intermediate
85.30%
1 to 3 Years
22.75%
3 to 5 Years
38.87%
5 to 10 Years
23.68%
Long Term
11.57%
10 to 20 Years
3.33%
20 to 30 Years
0.80%
Over 30 Years
7.44%
Other
0.00%
As of December 31, 2025
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