Asset Allocation

As of December 31, 2025.
Type % Net
Cash 0.65%
Stock 0.00%
Bond 122.9%
Convertible 0.00%
Preferred -0.29%
Other -23.27%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 0.00%
Corporate 1.53%
Securitized 4.24%
Municipal 85.91%
Other 8.32%
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Region Exposure

% Developed Markets: 112.3%    % Emerging Markets: 0.00%    % Unidentified Markets: -12.31%

Americas 112.3%
105.6%
United States 105.6%
6.75%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 0.00%
United Kingdom 0.00%
0.00%
0.00%
0.00%
Greater Asia 0.00%
Japan 0.00%
0.00%
0.00%
0.00%
Unidentified Region -12.31%

Bond Credit Quality Exposure

AAA 7.91%
AA 20.77%
A 12.52%
BBB 8.70%
BB 2.45%
B 0.00%
Below B 0.28%
    CCC 0.28%
    CC 0.00%
    C 0.00%
    DDD 0.00%
    DD 0.00%
    D 0.00%
Not Rated 3.25%
Not Available 44.12%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
1.92%
Less than 1 Year
1.92%
Intermediate
9.66%
1 to 3 Years
1.81%
3 to 5 Years
1.22%
5 to 10 Years
6.64%
Long Term
88.42%
10 to 20 Years
36.61%
20 to 30 Years
43.83%
Over 30 Years
7.98%
Other
0.00%
As of December 31, 2025
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