Asset Allocation

As of December 31, 2025.
Type % Net
Cash 8.30%
Stock 3.43%
Bond 77.99%
Convertible 0.45%
Preferred 0.46%
Other 9.36%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 33.42%
Corporate 50.30%
Securitized 0.05%
Municipal 4.00%
Other 12.23%
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Region Exposure

% Developed Markets: 78.23%    % Emerging Markets: 2.99%    % Unidentified Markets: 18.78%

Americas 67.13%
65.62%
Canada 39.49%
United States 26.13%
1.51%
Argentina 0.15%
Mexico 0.94%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 10.95%
United Kingdom 1.31%
8.23%
Belgium 0.74%
Denmark 0.05%
France 0.47%
Germany 3.03%
Greece 0.01%
Ireland 0.06%
Italy 0.32%
Netherlands 0.52%
Norway 0.44%
Portugal 0.59%
Spain 1.49%
Switzerland 0.34%
0.65%
Czech Republic 0.03%
Poland 0.09%
0.76%
Israel 0.03%
South Africa 0.67%
Greater Asia 3.14%
Japan 0.60%
1.89%
Australia 1.19%
0.50%
Hong Kong 0.24%
Singapore 0.14%
South Korea 0.12%
0.16%
China 0.08%
Philippines 0.07%
Thailand 0.00%
Unidentified Region 18.78%

Bond Credit Quality Exposure

AAA 25.81%
AA 12.18%
A 4.95%
BBB 14.97%
BB 10.98%
B 8.53%
Below B 1.97%
    CCC 1.93%
    CC 0.00%
    C 0.04%
    DDD 0.00%
    DD 0.00%
    D 0.00%
Not Rated 0.67%
Not Available 19.95%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
1.77%
Less than 1 Year
1.77%
Intermediate
78.63%
1 to 3 Years
15.07%
3 to 5 Years
26.27%
5 to 10 Years
37.29%
Long Term
19.60%
10 to 20 Years
4.67%
20 to 30 Years
10.22%
Over 30 Years
4.70%
Other
0.00%
As of December 31, 2025
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