Asset Allocation

As of December 31, 2025.
Type % Net
Cash -6.68%
Stock 0.00%
Bond 105.5%
Convertible 0.00%
Preferred 0.00%
Other 1.19%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 0.96%
Corporate 12.99%
Securitized 78.19%
Municipal 0.00%
Other 7.87%
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Region Exposure

% Developed Markets: 56.19%    % Emerging Markets: 4.40%    % Unidentified Markets: 39.42%

Americas 53.93%
47.85%
Canada 0.57%
United States 47.28%
6.08%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 6.59%
United Kingdom 4.47%
2.12%
Austria 0.00%
Denmark 0.00%
Finland 0.00%
France 0.03%
Germany 0.01%
Greece 0.00%
Ireland 0.02%
Italy 0.01%
Netherlands 1.26%
Norway 0.00%
Spain 0.00%
Switzerland 0.00%
0.00%
0.00%
Greater Asia 0.06%
Japan 0.03%
0.02%
Australia 0.02%
0.01%
Singapore 0.01%
0.00%
Unidentified Region 39.42%

Bond Credit Quality Exposure

AAA 0.84%
AA 12.31%
A 1.12%
BBB 7.17%
BB 22.08%
B 11.90%
Below B 2.97%
    CCC 2.70%
    CC 0.27%
    C 0.01%
    DDD 0.00%
    DD 0.00%
    D 0.00%
Not Rated 10.32%
Not Available 31.29%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
1.41%
Less than 1 Year
1.41%
Intermediate
59.00%
1 to 3 Years
2.95%
3 to 5 Years
9.92%
5 to 10 Years
46.13%
Long Term
38.85%
10 to 20 Years
20.19%
20 to 30 Years
8.34%
Over 30 Years
10.33%
Other
0.74%
As of December 31, 2025
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