Asset Allocation

As of December 31, 2025.
Type % Net
Cash 7.25%
Stock 0.01%
Bond 91.61%
Convertible 0.00%
Preferred 0.00%
Other 1.12%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 51.97%
Corporate 33.86%
Securitized 13.38%
Municipal 0.63%
Other 0.16%
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Region Exposure

% Developed Markets: 77.29%    % Emerging Markets: 15.70%    % Unidentified Markets: 7.01%

Americas 47.59%
40.75%
Canada 1.60%
United States 39.15%
6.84%
Argentina 0.02%
Brazil 2.84%
Chile 0.20%
Colombia 0.79%
Mexico 2.28%
Peru 0.06%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 27.37%
United Kingdom 4.54%
19.21%
Austria 0.19%
Belgium 2.71%
Denmark 0.58%
Finland 0.01%
France 4.27%
Germany 2.99%
Greece 0.92%
Ireland 0.48%
Italy 2.46%
Netherlands 0.68%
Norway 0.31%
Portugal 0.27%
Spain 2.14%
Sweden 0.00%
Switzerland 0.10%
2.88%
Czech Republic 0.12%
Poland 0.30%
Turkey 0.20%
0.74%
Egypt 0.17%
Nigeria 0.02%
Qatar 0.13%
Saudi Arabia 0.10%
South Africa 0.19%
Greater Asia 18.03%
Japan 6.44%
2.34%
Australia 2.15%
3.58%
Hong Kong 0.50%
Singapore 1.15%
South Korea 1.61%
5.67%
China 2.17%
India 0.17%
Indonesia 1.15%
Kazakhstan 0.04%
Malaysia 1.51%
Philippines 0.41%
Thailand 0.21%
Unidentified Region 7.01%

Bond Credit Quality Exposure

AAA 10.75%
AA 22.80%
A 18.50%
BBB 19.96%
BB 7.35%
B 2.02%
Below B 0.57%
    CCC 0.55%
    CC 0.00%
    C 0.00%
    DDD 0.00%
    DD 0.00%
    D 0.02%
Not Rated 0.13%
Not Available 17.92%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
4.36%
Less than 1 Year
4.36%
Intermediate
59.96%
1 to 3 Years
12.21%
3 to 5 Years
14.75%
5 to 10 Years
33.00%
Long Term
35.09%
10 to 20 Years
13.47%
20 to 30 Years
19.54%
Over 30 Years
2.09%
Other
0.59%
As of December 31, 2025
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