Asset Allocation

As of December 31, 2025.
Type % Net
Cash 2.45%
Stock 0.00%
Bond 86.01%
Convertible 0.00%
Preferred 0.00%
Other 11.54%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 0.00%
Corporate 0.73%
Securitized 6.18%
Municipal 93.09%
Other 0.00%
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Region Exposure

% Developed Markets: 85.89%    % Emerging Markets: 0.00%    % Unidentified Markets: 14.11%

Americas 85.89%
84.20%
United States 84.20%
1.69%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 0.00%
United Kingdom 0.00%
0.00%
0.00%
0.00%
Greater Asia 0.00%
Japan 0.00%
0.00%
0.00%
0.00%
Unidentified Region 14.11%

Bond Credit Quality Exposure

AAA 8.36%
AA 35.83%
A 29.82%
BBB 7.71%
BB 1.59%
B 0.37%
Below B 0.31%
    CCC 0.31%
    CC 0.00%
    C 0.00%
    DDD 0.00%
    DD 0.00%
    D 0.00%
Not Rated 2.41%
Not Available 13.61%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
0.83%
Less than 1 Year
0.83%
Intermediate
28.10%
1 to 3 Years
3.44%
3 to 5 Years
4.56%
5 to 10 Years
20.10%
Long Term
71.06%
10 to 20 Years
41.38%
20 to 30 Years
24.41%
Over 30 Years
5.27%
Other
0.00%
As of December 31, 2025
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