Asset Allocation

As of December 31, 2025.
Type % Net
Cash 1.23%
Stock 1.47%
Bond 96.06%
Convertible 0.02%
Preferred 0.04%
Other 1.19%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 36.92%
Corporate 59.18%
Securitized 0.54%
Municipal 0.17%
Other 3.19%
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Region Exposure

% Developed Markets: 59.95%    % Emerging Markets: 34.73%    % Unidentified Markets: 5.32%

Americas 65.63%
52.16%
Canada 2.16%
United States 50.00%
13.47%
Argentina 1.10%
Brazil 2.76%
Chile 0.93%
Colombia 2.09%
Mexico 2.46%
Peru 0.43%
Venezuela 0.39%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 20.06%
United Kingdom 1.65%
2.76%
France 0.03%
Germany 0.32%
Ireland 0.12%
Italy 0.07%
Netherlands 1.00%
Norway 0.07%
Spain 0.32%
Sweden 0.11%
Switzerland 0.13%
7.38%
Czech Republic 1.10%
Poland 1.76%
Turkey 1.66%
8.26%
Egypt 1.21%
Israel 0.01%
Nigeria 0.66%
Saudi Arabia 1.12%
South Africa 2.15%
United Arab Emirates 0.56%
Greater Asia 8.99%
Japan 0.60%
0.55%
Australia 0.55%
0.40%
Singapore 0.38%
Taiwan 0.02%
7.43%
China 0.71%
India 1.92%
Indonesia 1.40%
Kazakhstan 0.11%
Malaysia 1.79%
Philippines 0.22%
Thailand 0.87%
Unidentified Region 5.32%

Bond Credit Quality Exposure

AAA 0.06%
AA 5.00%
A 13.81%
BBB 19.31%
BB 30.54%
B 13.41%
Below B 5.37%
    CCC 4.97%
    CC 0.01%
    C 0.29%
    DDD 0.00%
    DD 0.00%
    D 0.10%
Not Rated 0.20%
Not Available 12.30%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
5.17%
Less than 1 Year
5.17%
Intermediate
70.92%
1 to 3 Years
7.46%
3 to 5 Years
20.21%
5 to 10 Years
43.25%
Long Term
23.25%
10 to 20 Years
12.99%
20 to 30 Years
8.10%
Over 30 Years
2.16%
Other
0.66%
As of December 31, 2025
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