Asset Allocation

As of December 31, 2025.
Type % Net
Cash -0.59%
Stock 2.95%
Bond 96.63%
Convertible 0.37%
Preferred 0.01%
Other 0.63%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 4.24%
Corporate 93.50%
Securitized 0.32%
Municipal 0.01%
Other 1.93%
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Region Exposure

% Developed Markets: 95.55%    % Emerging Markets: 0.81%    % Unidentified Markets: 3.63%

Americas 72.58%
72.53%
Canada 2.55%
United States 69.98%
0.05%
Argentina 0.00%
Brazil 0.00%
Chile 0.00%
Colombia 0.01%
Mexico 0.00%
Peru 0.00%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 21.92%
United Kingdom 4.82%
17.09%
Austria 0.01%
Belgium -0.00%
Denmark -0.00%
Finland 0.47%
France 3.05%
Germany 2.72%
Ireland 0.45%
Italy 2.69%
Netherlands 2.15%
Norway -0.00%
Spain 0.95%
Sweden 0.53%
Switzerland 0.00%
0.01%
Poland -0.00%
Russia 0.00%
Turkey 0.00%
0.00%
Egypt 0.00%
Israel 0.00%
Qatar -0.00%
Saudi Arabia -0.00%
South Africa -0.00%
United Arab Emirates -0.00%
Greater Asia 1.86%
Japan 0.92%
0.95%
Australia 0.95%
-0.01%
Hong Kong -0.00%
Singapore 0.00%
South Korea -0.00%
Taiwan -0.01%
0.01%
China 0.02%
India -0.01%
Indonesia -0.00%
Malaysia -0.00%
Philippines -0.00%
Thailand -0.00%
Unidentified Region 3.63%

Bond Credit Quality Exposure

AAA 0.05%
AA 0.48%
A 0.02%
BBB 5.45%
BB 36.26%
B 44.56%
Below B 5.76%
    CCC 5.71%
    CC 0.02%
    C 0.01%
    DDD 0.00%
    DD 0.00%
    D 0.02%
Not Rated 0.10%
Not Available 7.32%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
7.12%
Less than 1 Year
7.12%
Intermediate
87.83%
1 to 3 Years
9.68%
3 to 5 Years
32.40%
5 to 10 Years
45.75%
Long Term
3.37%
10 to 20 Years
2.65%
20 to 30 Years
0.65%
Over 30 Years
0.07%
Other
1.68%
As of December 31, 2025
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