Asset Allocation

As of September 30, 2025.
Type % Net
Cash 0.39%
Stock 0.00%
Bond 101.5%
Convertible 0.00%
Preferred 0.00%
Other -1.89%
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Bond Sector Exposure

As of September 30, 2025
Type % Net
Government 0.86%
Corporate 4.56%
Securitized 5.27%
Municipal 89.19%
Other 0.12%
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Region Exposure

% Developed Markets: 101.7%    % Emerging Markets: 0.12%    % Unidentified Markets: -1.82%

Americas 99.87%
98.51%
Canada 0.66%
United States 97.84%
1.36%
Brazil 0.11%
As of September 30, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 1.52%
United Kingdom 0.54%
0.96%
Denmark 0.02%
France 0.29%
Ireland 0.13%
Italy 0.17%
Netherlands 0.24%
Norway 0.02%
Spain 0.04%
Sweden 0.06%
0.00%
0.01%
Israel 0.01%
Greater Asia 0.43%
Japan 0.14%
0.24%
Australia 0.24%
0.04%
Singapore 0.01%
South Korea 0.03%
0.00%
Unidentified Region -1.82%

Bond Credit Quality Exposure

AAA 9.29%
AA 43.45%
A 23.97%
BBB 11.41%
BB 0.22%
B 0.02%
Below B 0.04%
    CCC 0.04%
    CC 0.00%
    C 0.00%
    DDD 0.00%
    DD 0.00%
    D 0.00%
Not Rated 1.30%
Not Available 10.29%
Short Term 0.00%
As of September 30, 2025
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Bond Maturity Exposure

Short Term
7.63%
Less than 1 Year
7.63%
Intermediate
43.96%
1 to 3 Years
14.01%
3 to 5 Years
14.25%
5 to 10 Years
15.70%
Long Term
48.29%
10 to 20 Years
14.51%
20 to 30 Years
26.50%
Over 30 Years
7.28%
Other
0.12%
As of September 30, 2025
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