Asset Allocation

As of December 31, 2025.
Type % Net
Cash 3.01%
Stock 1.19%
Bond 93.77%
Convertible 0.94%
Preferred 2.39%
Other -1.31%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 58.96%
Corporate 20.61%
Securitized 9.21%
Municipal 0.00%
Other 11.22%
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Region Exposure

% Developed Markets: 73.63%    % Emerging Markets: 22.18%    % Unidentified Markets: 4.18%

Americas 56.18%
47.39%
Canada 1.10%
United States 46.29%
8.78%
Argentina 0.25%
Brazil 3.99%
Chile 0.28%
Colombia 1.75%
Mexico 1.27%
Peru 0.14%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 24.03%
United Kingdom 2.30%
12.73%
Denmark 0.17%
France 1.95%
Germany 0.94%
Greece 0.33%
Ireland 0.30%
Italy 0.75%
Netherlands 0.51%
Norway 5.89%
Spain 0.59%
Switzerland 0.08%
7.94%
Czech Republic 5.40%
Poland 0.35%
Turkey 0.31%
1.06%
Israel 0.08%
South Africa 0.88%
Greater Asia 15.61%
Japan 2.65%
4.74%
Australia 4.04%
2.97%
Hong Kong 0.21%
Singapore 0.01%
South Korea 2.75%
5.26%
China 0.53%
India 2.95%
Indonesia 0.51%
Malaysia 0.65%
Thailand 0.61%
Unidentified Region 4.18%

Bond Credit Quality Exposure

AAA 13.68%
AA 24.15%
A 9.56%
BBB 15.88%
BB 13.15%
B 2.60%
Below B 0.77%
    CCC 0.77%
    CC 0.00%
    C 0.00%
    DDD 0.00%
    DD 0.00%
    D 0.00%
Not Rated 0.67%
Not Available 19.55%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
3.68%
Less than 1 Year
3.68%
Intermediate
54.38%
1 to 3 Years
6.38%
3 to 5 Years
18.62%
5 to 10 Years
29.37%
Long Term
40.54%
10 to 20 Years
15.35%
20 to 30 Years
21.13%
Over 30 Years
4.06%
Other
1.40%
As of December 31, 2025
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