Asset Allocation

As of December 31, 2025.
Type % Net
Cash 1.42%
Stock 0.00%
Bond 97.58%
Convertible 0.00%
Preferred 0.25%
Other 0.75%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 7.86%
Corporate 39.45%
Securitized 42.73%
Municipal 9.59%
Other 0.37%
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Region Exposure

% Developed Markets: 92.60%    % Emerging Markets: 1.66%    % Unidentified Markets: 5.74%

Americas 90.79%
85.15%
Canada 0.24%
United States 84.91%
5.64%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 3.00%
United Kingdom 1.66%
1.34%
France 0.39%
Ireland 0.38%
Netherlands 0.21%
Switzerland 0.37%
0.00%
0.00%
Greater Asia 0.47%
Japan 0.00%
0.47%
Australia 0.47%
0.00%
0.00%
Unidentified Region 5.74%

Bond Credit Quality Exposure

AAA 11.01%
AA 14.76%
A 11.27%
BBB 26.10%
BB 21.68%
B 5.41%
Below B 0.60%
    CCC 0.60%
    CC 0.00%
    C 0.00%
    DDD 0.00%
    DD 0.00%
    D 0.00%
Not Rated 1.19%
Not Available 7.98%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
0.82%
Less than 1 Year
0.82%
Intermediate
50.20%
1 to 3 Years
7.52%
3 to 5 Years
10.36%
5 to 10 Years
32.32%
Long Term
47.88%
10 to 20 Years
25.79%
20 to 30 Years
10.10%
Over 30 Years
11.99%
Other
1.10%
As of December 31, 2025
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