Asset Allocation

As of December 31, 2025.
Type % Net
Cash 2.22%
Stock 0.00%
Bond 99.16%
Convertible 0.00%
Preferred 0.00%
Other -1.38%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 1.46%
Corporate 0.09%
Securitized 0.00%
Municipal 98.45%
Other 0.00%
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Region Exposure

% Developed Markets: 99.06%    % Emerging Markets: 0.00%    % Unidentified Markets: 0.94%

Americas 98.53%
98.17%
United States 98.17%
0.36%
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 0.53%
Japan 0.00%
0.00%
0.53%
0.00%
Unidentified Region 0.94%

Bond Credit Quality Exposure

AAA 3.07%
AA 61.29%
A 26.13%
BBB 5.62%
BB 0.00%
B 0.00%
Below B 0.00%
    CCC 0.00%
    CC 0.00%
    C 0.00%
    DDD 0.00%
    DD 0.00%
    D 0.00%
Not Rated 1.01%
Not Available 2.88%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
9.40%
Less than 1 Year
9.40%
Intermediate
70.06%
1 to 3 Years
23.63%
3 to 5 Years
23.27%
5 to 10 Years
23.16%
Long Term
20.54%
10 to 20 Years
3.81%
20 to 30 Years
12.62%
Over 30 Years
4.12%
Other
0.00%
As of December 31, 2025
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