Asset Allocation

As of December 31, 2025.
Type % Net
Cash 4.59%
Stock 0.00%
Bond 95.37%
Convertible 0.00%
Preferred 0.00%
Other 0.04%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 84.41%
Corporate 13.93%
Securitized 0.19%
Municipal 0.63%
Other 0.84%
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Region Exposure

% Developed Markets: 15.21%    % Emerging Markets: 84.22%    % Unidentified Markets: 0.58%

Americas 42.87%
5.02%
Canada 0.06%
United States 4.96%
37.85%
Argentina 3.93%
Brazil 3.46%
Chile 2.94%
Colombia 3.06%
Mexico 5.34%
Peru 1.71%
Venezuela 1.86%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 44.00%
United Kingdom 0.49%
5.16%
Austria 0.06%
Ireland 0.73%
Netherlands 0.54%
Spain 0.11%
15.32%
Czech Republic 0.14%
Poland 1.98%
Turkey 4.44%
23.03%
Egypt 2.58%
Israel 0.21%
Nigeria 2.48%
Saudi Arabia 3.37%
South Africa 3.66%
United Arab Emirates 1.78%
Greater Asia 12.55%
Japan 0.01%
0.00%
0.17%
Hong Kong 0.06%
Singapore 0.08%
South Korea 0.02%
Taiwan 0.00%
12.38%
China 0.15%
India 0.40%
Indonesia 3.41%
Kazakhstan 0.84%
Malaysia 1.42%
Pakistan 0.64%
Philippines 2.37%
Thailand 0.12%
Unidentified Region 0.58%

Bond Credit Quality Exposure

AAA 0.25%
AA 1.75%
A 10.12%
BBB 32.22%
BB 25.36%
B 16.17%
Below B 9.70%
    CCC 8.98%
    CC 0.00%
    C 0.19%
    DDD 0.00%
    DD 0.00%
    D 0.53%
Not Rated 2.15%
Not Available 2.29%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
0.91%
Less than 1 Year
0.91%
Intermediate
59.21%
1 to 3 Years
4.59%
3 to 5 Years
15.10%
5 to 10 Years
39.52%
Long Term
39.48%
10 to 20 Years
17.61%
20 to 30 Years
17.39%
Over 30 Years
4.48%
Other
0.40%
As of December 31, 2025
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