Asset Allocation

As of December 31, 2025.
Type % Net
Cash 0.90%
Stock 0.18%
Bond 97.13%
Convertible 0.00%
Preferred 0.00%
Other 1.78%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 80.65%
Corporate 15.87%
Securitized 0.00%
Municipal 0.00%
Other 3.48%
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Region Exposure

% Developed Markets: 11.02%    % Emerging Markets: 83.51%    % Unidentified Markets: 5.47%

Americas 43.59%
1.87%
United States 1.87%
41.72%
Argentina 3.19%
Brazil 4.59%
Chile 3.78%
Colombia 5.85%
Mexico 7.29%
Peru 3.68%
Venezuela 1.25%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 36.39%
United Kingdom 0.51%
3.71%
Ireland 0.01%
Netherlands 0.66%
12.71%
Czech Republic 0.14%
Poland 1.10%
Turkey 4.18%
19.45%
Egypt 3.06%
Nigeria 0.91%
Qatar 0.73%
Saudi Arabia 1.07%
South Africa 3.82%
United Arab Emirates 0.67%
Greater Asia 14.55%
Japan 0.00%
0.00%
0.72%
Hong Kong 0.33%
Singapore 0.07%
South Korea 0.23%
Taiwan 0.09%
13.83%
China 0.16%
India 1.25%
Indonesia 3.37%
Kazakhstan 0.62%
Malaysia 2.42%
Pakistan 0.30%
Philippines 1.55%
Thailand 0.46%
Unidentified Region 5.47%

Bond Credit Quality Exposure

AAA 0.26%
AA 1.78%
A 6.54%
BBB 29.95%
BB 31.84%
B 10.11%
Below B 9.04%
    CCC 8.61%
    CC 0.00%
    C 0.16%
    DDD 0.00%
    DD 0.00%
    D 0.27%
Not Rated 0.67%
Not Available 9.79%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
4.54%
Less than 1 Year
4.54%
Intermediate
59.83%
1 to 3 Years
5.97%
3 to 5 Years
16.08%
5 to 10 Years
37.77%
Long Term
35.08%
10 to 20 Years
20.87%
20 to 30 Years
12.89%
Over 30 Years
1.32%
Other
0.55%
As of December 31, 2025
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