Asset Allocation

As of December 31, 2025.
Type % Net
Cash 1.06%
Stock 2.49%
Bond 73.02%
Convertible 0.00%
Preferred 23.80%
Other -0.37%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 17.18%
Corporate 61.43%
Securitized 0.34%
Municipal 17.20%
Other 3.86%
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Region Exposure

% Developed Markets: 101.2%    % Emerging Markets: 0.16%    % Unidentified Markets: -1.32%

Americas 96.64%
95.53%
Canada 1.94%
United States 93.59%
1.11%
Brazil 0.00%
Chile 0.00%
Mexico 0.01%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 3.30%
United Kingdom 1.06%
2.13%
Austria 0.03%
Finland 0.00%
France 0.30%
Germany 0.13%
Ireland 0.31%
Italy 0.04%
Netherlands 0.51%
Norway 0.03%
Spain 0.08%
Switzerland 0.01%
0.00%
0.11%
Israel 0.11%
Greater Asia 1.38%
Japan 0.68%
0.28%
Australia 0.28%
0.42%
Hong Kong 0.12%
Singapore 0.08%
0.00%
China 0.00%
Unidentified Region -1.32%

Bond Credit Quality Exposure

AAA 1.37%
AA 24.44%
A 8.51%
BBB 10.57%
BB 28.39%
B 17.23%
Below B 5.81%
    CCC 5.77%
    CC 0.04%
    C 0.00%
    DDD 0.00%
    DD 0.00%
    D 0.00%
Not Rated 0.65%
Not Available 3.05%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
3.68%
Less than 1 Year
3.68%
Intermediate
57.41%
1 to 3 Years
19.61%
3 to 5 Years
36.46%
5 to 10 Years
1.35%
Long Term
38.90%
10 to 20 Years
7.31%
20 to 30 Years
28.94%
Over 30 Years
2.66%
Other
0.00%
As of December 31, 2025
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