Asset Allocation

As of December 31, 2025.
Type % Net
Cash 10.88%
Stock 0.01%
Bond 88.78%
Convertible 0.00%
Preferred 0.06%
Other 0.28%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 33.10%
Corporate 46.78%
Securitized 2.41%
Municipal 11.42%
Other 6.29%
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Region Exposure

% Developed Markets: 89.20%    % Emerging Markets: 6.71%    % Unidentified Markets: 4.09%

Americas 80.96%
77.22%
Canada 65.50%
United States 11.72%
3.74%
Argentina 0.18%
Brazil 0.36%
Chile 0.32%
Colombia 0.44%
Mexico 1.05%
Peru 0.25%
Venezuela 0.02%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 12.53%
United Kingdom 2.89%
6.98%
Austria 0.09%
Belgium 0.03%
Denmark 0.04%
Finland 0.03%
France 2.26%
Germany 0.67%
Ireland 0.29%
Italy 1.46%
Netherlands 0.77%
Norway 0.08%
Portugal 0.00%
Spain 0.67%
Sweden 0.04%
Switzerland 0.07%
1.40%
Poland 0.18%
Turkey 0.71%
1.27%
Egypt 0.11%
Nigeria 0.08%
Qatar 0.07%
Saudi Arabia 0.06%
South Africa 0.17%
United Arab Emirates 0.31%
Greater Asia 2.42%
Japan 1.08%
0.21%
Australia 0.15%
0.43%
Hong Kong 0.14%
Singapore 0.15%
South Korea 0.05%
0.70%
China 0.09%
India 0.15%
Indonesia 0.11%
Kazakhstan 0.06%
Malaysia 0.06%
Pakistan 0.02%
Philippines 0.06%
Thailand 0.01%
Unidentified Region 4.09%

Bond Credit Quality Exposure

AAA 14.90%
AA 11.99%
A 20.78%
BBB 24.54%
BB 6.40%
B 2.86%
Below B 0.52%
    CCC 0.48%
    CC 0.00%
    C 0.02%
    DDD 0.00%
    DD 0.00%
    D 0.01%
Not Rated 0.30%
Not Available 17.70%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
11.36%
Less than 1 Year
11.36%
Intermediate
73.90%
1 to 3 Years
23.69%
3 to 5 Years
29.23%
5 to 10 Years
20.98%
Long Term
13.60%
10 to 20 Years
4.88%
20 to 30 Years
6.17%
Over 30 Years
2.56%
Other
1.14%
As of December 31, 2025
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