Asset Allocation

As of December 31, 2025.
Type % Net
Cash 7.65%
Stock 0.00%
Bond 91.29%
Convertible 0.00%
Preferred 0.00%
Other 1.05%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 0.00%
Corporate 0.24%
Securitized 0.00%
Municipal 99.76%
Other 0.00%
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Region Exposure

% Developed Markets: 91.26%    % Emerging Markets: 0.00%    % Unidentified Markets: 8.74%

Americas 91.26%
91.26%
United States 91.26%
0.00%
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 8.74%

Bond Credit Quality Exposure

AAA 6.67%
AA 47.05%
A 31.63%
BBB 8.77%
BB 2.14%
B 0.13%
Below B 0.13%
    CCC 0.00%
    CC 0.13%
    C 0.00%
    DDD 0.00%
    DD 0.00%
    D 0.00%
Not Rated 0.46%
Not Available 3.02%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
3.05%
Less than 1 Year
3.05%
Intermediate
31.64%
1 to 3 Years
4.56%
3 to 5 Years
9.30%
5 to 10 Years
17.78%
Long Term
65.31%
10 to 20 Years
34.63%
20 to 30 Years
28.68%
Over 30 Years
2.00%
Other
0.00%
As of December 31, 2025
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