Asset Allocation

As of December 31, 2025.
Type % Net
Cash 4.25%
Stock 0.34%
Bond 95.44%
Convertible 0.00%
Preferred 0.03%
Other -0.06%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 6.42%
Corporate 55.47%
Securitized 27.08%
Municipal 0.00%
Other 11.03%
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Region Exposure

% Developed Markets: 83.77%    % Emerging Markets: 0.29%    % Unidentified Markets: 15.94%

Americas 78.93%
73.73%
Canada 0.95%
United States 72.78%
5.20%
Brazil 0.00%
Mexico 0.06%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 4.37%
United Kingdom 2.11%
2.25%
Austria 0.26%
France 0.05%
Germany 0.65%
Ireland 0.15%
Italy 0.18%
Netherlands 0.35%
Sweden 0.21%
0.00%
0.01%
United Arab Emirates 0.01%
Greater Asia 0.77%
Japan 0.43%
0.29%
Australia 0.29%
0.01%
Hong Kong 0.01%
0.04%
China 0.04%
Unidentified Region 15.94%

Bond Credit Quality Exposure

AAA 0.57%
AA 7.25%
A 5.79%
BBB 17.97%
BB 20.51%
B 16.15%
Below B 1.97%
    CCC 1.85%
    CC 0.00%
    C 0.03%
    DDD 0.00%
    DD 0.00%
    D 0.09%
Not Rated 6.26%
Not Available 23.53%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
5.38%
Less than 1 Year
5.38%
Intermediate
58.93%
1 to 3 Years
12.13%
3 to 5 Years
17.73%
5 to 10 Years
29.07%
Long Term
32.94%
10 to 20 Years
15.28%
20 to 30 Years
11.46%
Over 30 Years
6.20%
Other
2.74%
As of December 31, 2025
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