Asset Allocation

As of December 31, 2025.
Type % Net
Cash 3.14%
Stock 0.00%
Bond 96.53%
Convertible 0.00%
Preferred 0.00%
Other 0.33%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 32.30%
Corporate 29.86%
Securitized 30.89%
Municipal 5.59%
Other 1.36%
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Region Exposure

% Developed Markets: 103.3%    % Emerging Markets: 3.66%    % Unidentified Markets: -6.92%

Americas 87.81%
86.86%
Canada 0.74%
United States 86.12%
0.95%
Colombia 0.35%
Mexico 0.60%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 18.30%
United Kingdom 2.20%
13.38%
Denmark 0.08%
France 1.88%
Germany 4.67%
Ireland 0.50%
Netherlands 0.80%
Spain 0.08%
2.28%
Czech Republic 0.53%
Poland 0.27%
Turkey 0.59%
0.44%
United Arab Emirates 0.34%
Greater Asia 0.81%
Japan 0.58%
0.22%
Australia 0.22%
0.00%
0.00%
Unidentified Region -6.92%

Bond Credit Quality Exposure

AAA 17.55%
AA 34.47%
A 9.69%
BBB 7.62%
BB 4.09%
B 2.00%
Below B 0.14%
    CCC 0.14%
    CC 0.00%
    C 0.00%
    DDD 0.00%
    DD 0.00%
    D 0.00%
Not Rated 0.66%
Not Available 23.79%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
12.78%
Less than 1 Year
12.78%
Intermediate
40.70%
1 to 3 Years
10.21%
3 to 5 Years
16.12%
5 to 10 Years
14.37%
Long Term
46.08%
10 to 20 Years
11.59%
20 to 30 Years
32.50%
Over 30 Years
1.99%
Other
0.44%
As of December 31, 2025
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