Top 10 Holdings %

Coupon RateMaturity%
U.S. Treasury Bond4.625%05/15/20445.0%
U.S. Treasury Note4.625%02/15/20354.0%
U.S. Treasury Note4.375%05/15/20343.1%
Treasury Inflation Index2.375%02/15/20552.7%
Federal Home Loan Mortgage Corporation5.000%11/01/20542.3%
U.S. Treasury Note4.250%08/15/20352.1%
Federal National Mortgage Association5.000%07/01/20531.9%
U.S. Treasury Note4.250%11/15/20341.8%
Brean Asset Backed Securities Trust 2021-Rm11.600%10/25/20631.8%
U.S. Treasury Bond3.875%05/15/20431.6%

Credit Quality Breakdown

(Moody's/S&P)

U.S. Treasury25.8%
U.S. Agency1.3%
Aaa/AAA5.6%
Aa/AA33.0%
A/A5.3%
Baa/BBB7.5%
Ba/BB15.7%
B/B2.6%
Ca/CC
Not Rated
The above credit-quality ratings are derived from the underlying securities of the portfolio, and are rated by Moody's. If a rating from Moody's is unavailable, S&P's rating is used.

Composition By Security Type

Agencies1.3%
Other1.8%
Cash & Cash Equivalents3.3%
U.S. Treasury25.8%
Mortgage-Backed33.5%
Corporate Bonds34.2%

The composition of the Portfolio is as of December 31, 2025 and is subject to change.

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