Asset Allocation

As of December 31, 2025.
Type % Net
Cash 7.01%
Stock 2.55%
Bond 90.07%
Convertible 0.00%
Preferred 0.00%
Other 0.38%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 26.51%
Corporate 21.86%
Securitized 47.49%
Municipal 2.78%
Other 1.36%
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Region Exposure

% Developed Markets: 57.72%    % Emerging Markets: 26.73%    % Unidentified Markets: 15.55%

Americas 67.98%
46.18%
Canada 10.01%
United States 36.17%
21.81%
Argentina 1.02%
Brazil 0.76%
Chile 1.67%
Colombia 1.86%
Mexico 2.45%
Peru 0.85%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 11.02%
United Kingdom 0.37%
1.37%
Netherlands 1.31%
4.06%
Poland 0.01%
Turkey 2.24%
5.22%
Egypt 0.52%
Nigeria 0.25%
Saudi Arabia 0.36%
South Africa 1.38%
United Arab Emirates 0.99%
Greater Asia 5.45%
Japan 0.00%
0.00%
0.78%
Hong Kong 0.78%
4.67%
China 0.07%
Indonesia 0.67%
Kazakhstan 0.24%
Pakistan 0.78%
Philippines 0.72%
Unidentified Region 15.55%

Bond Credit Quality Exposure

AAA 13.17%
AA 5.62%
A 10.17%
BBB 20.46%
BB 13.68%
B 11.16%
Below B 0.14%
    CCC 0.06%
    CC 0.00%
    C 0.07%
    DDD 0.00%
    DD 0.00%
    D 0.00%
Not Rated 5.90%
Not Available 19.70%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
10.49%
Less than 1 Year
10.49%
Intermediate
29.52%
1 to 3 Years
7.90%
3 to 5 Years
8.85%
5 to 10 Years
12.77%
Long Term
54.56%
10 to 20 Years
21.40%
20 to 30 Years
27.00%
Over 30 Years
6.17%
Other
5.42%
As of December 31, 2025
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