Asset Allocation

As of December 31, 2025.
Type % Net
Cash 1.34%
Stock 0.00%
Bond 96.92%
Convertible 0.00%
Preferred 0.00%
Other 1.74%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 54.14%
Corporate 13.37%
Securitized 31.15%
Municipal 0.89%
Other 0.46%
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Region Exposure

% Developed Markets: 89.88%    % Emerging Markets: 13.03%    % Unidentified Markets: -2.91%

Americas 45.51%
42.85%
Canada 1.14%
United States 41.71%
2.66%
Argentina 0.10%
Brazil 1.62%
Chile 0.20%
Colombia 0.05%
Mexico 0.36%
Peru 0.11%
Venezuela 0.02%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 39.14%
United Kingdom 15.54%
22.07%
Austria 1.23%
Belgium 3.31%
Finland 0.90%
France 4.16%
Germany 4.86%
Ireland 5.13%
Italy 0.65%
Netherlands 0.56%
Norway 0.13%
Spain 0.72%
Sweden 0.25%
1.01%
Czech Republic 0.55%
Poland 0.21%
Turkey 0.04%
0.52%
Egypt 0.13%
Israel 0.16%
Nigeria 0.01%
Saudi Arabia 0.04%
South Africa 0.02%
United Arab Emirates 0.02%
Greater Asia 18.27%
Japan 4.08%
3.27%
Australia 3.07%
1.80%
Singapore 0.66%
South Korea 1.15%
9.12%
China 7.65%
Indonesia 0.52%
Kazakhstan 0.01%
Malaysia 0.44%
Philippines 0.01%
Thailand 0.47%
Unidentified Region -2.91%

Bond Credit Quality Exposure

AAA 9.69%
AA 35.00%
A 13.73%
BBB 7.45%
BB 4.23%
B 1.98%
Below B 2.40%
    CCC 2.32%
    CC 0.06%
    C 0.01%
    DDD 0.00%
    DD 0.00%
    D 0.01%
Not Rated 1.41%
Not Available 24.13%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
1.10%
Less than 1 Year
1.10%
Intermediate
57.27%
1 to 3 Years
9.21%
3 to 5 Years
22.11%
5 to 10 Years
25.95%
Long Term
41.50%
10 to 20 Years
11.84%
20 to 30 Years
26.66%
Over 30 Years
3.00%
Other
0.13%
As of December 31, 2025
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