Asset Allocation

As of September 30, 2025.
Type % Net
Cash 2.84%
Stock 58.75%
Bond 15.28%
Convertible 0.00%
Preferred 1.59%
Other 21.53%
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Market Capitalization

As of September 30, 2025
Large 16.13%
Mid 12.92%
Small 70.94%
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Region Exposure

% Developed Markets: 98.70%    % Emerging Markets: 2.92%    % Unidentified Markets: -1.61%

Americas 92.28%
89.51%
Canada 4.17%
United States 85.34%
2.77%
Argentina 0.07%
Brazil 0.09%
Chile 0.02%
Colombia 0.15%
Mexico 0.23%
Peru 0.07%
Venezuela 0.04%
As of September 30, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 8.49%
United Kingdom 4.57%
2.65%
Austria 0.02%
Finland 0.02%
France 0.32%
Germany 0.11%
Greece 0.00%
Ireland 0.12%
Italy 0.08%
Netherlands 0.11%
Spain 0.22%
Switzerland 0.08%
0.37%
Czech Republic -0.00%
Poland 0.05%
Russia 0.01%
Turkey 0.06%
0.89%
Egypt 0.20%
Nigeria 0.03%
Saudi Arabia 0.00%
South Africa 0.18%
United Arab Emirates 0.02%
Greater Asia 0.84%
Japan 0.04%
0.08%
Australia 0.07%
0.18%
Hong Kong 0.09%
Singapore 0.09%
0.54%
China -0.04%
India 0.08%
Indonesia 0.08%
Kazakhstan 0.10%
Malaysia 0.02%
Pakistan 0.01%
Philippines 0.09%
Thailand 0.03%
Unidentified Region -1.61%

Bond Credit Quality Exposure

AAA 0.56%
AA 0.92%
A 0.70%
BBB 13.26%
BB 24.73%
B 23.06%
Below B 9.86%
    CCC 6.93%
    CC 0.69%
    C 0.64%
    DDD 0.00%
    DD 0.00%
    D 1.60%
Not Rated 3.74%
Not Available 23.17%
Short Term 0.00%
As of September 30, 2025
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Stock Sector Exposure

Cyclical
62.21%
Materials
9.24%
Consumer Discretionary
4.10%
Financials
35.79%
Real Estate
13.09%
Sensitive
14.82%
Communication Services
0.09%
Energy
12.05%
Industrials
2.68%
Information Technology
0.00%
Defensive
7.99%
Consumer Staples
1.44%
Health Care
1.38%
Utilities
5.17%
Not Classified
14.98%
Non Classified Equity
1.37%
Not Classified - Non Equity
13.61%
As of September 30, 2025
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Bond Sector Exposure

As of September 30, 2025
Type % Net
Government 18.57%
Corporate 55.21%
Securitized 10.65%
Municipal 0.11%
Other 15.46%
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Bond Maturity Exposure

Short Term
4.28%
Less than 1 Year
4.28%
Intermediate
62.95%
1 to 3 Years
13.56%
3 to 5 Years
22.44%
5 to 10 Years
26.95%
Long Term
22.50%
10 to 20 Years
11.51%
20 to 30 Years
5.93%
Over 30 Years
5.07%
Other
10.27%
As of September 30, 2025
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