FLC ETF

$16.59

AUM$194M

TER1.64%

Holdings257

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FLC ETF

$16.59

Flaherty & Crumrine Total Return Fund

AUM$194M

TER1.64%

Holdings257

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Overview Performance Chart Dividends Top Holdings All Holdings Sectors Geography Similar Compare Overlap

Leveraged fundWeights reflect notional exposure via swaps/derivatives and do not sum to 100%.

Net exposure

146.8%

Gross exposure

146.8%

Long

146.8%

Cash & collateral

0.2%

As of Nov 28, 2025

Showing top 50 of 212 holdings · as of Nov 28, 2025

FLC holdings, by weight
#	Ticker	Name	Weight	Cumulative	Shares	Mkt value	Share chg	Sector	Industry
1	—	Liberty Mutual Group IncFinancials · Insurance	3.70%	3.7%	-	$7.33M	-	Financials	Insurance
2	—	Metlife Inc Jr Subordina 144a 04/38 9.25Financials · Insurance	3.24%	6.9%	-	$6.41M	-	Financials	Insurance
Share changes, sector and industry · Pro
3	PFS	Provident Financing Trust I	3.20%	10.1%	-	$6.33M
4	DFG	Delphi Financial Group Inc	2.81%	13.0%	224,200	$5.55M
5	—	New York Community Bancorp, Inc., Series A., Pfd.	2.72%	15.7%	241,200	$5.38M
6	TSTXX	Blackrock Liquidity Funds T-Fund	2.67%	18.3%	5,291,437	$5.29M
7	—	Banco Santander, S.A. 4.75% Perp	2.60%	20.9%	-	$5.14M
8	MET	Metlife Inc	2.45%	23.4%	-	$4.85M
9	—	Bnp Paribas Sa	2.36%	25.8%	-	$4.67M
10	—	Societe Generale Sa	2.29%	28.0%	-	$4.53M
11	—	Societe Generale Sa	2.29%	30.3%	-	$4.53M
12	RF	Regions Financial Corp	2.24%	32.6%	182,350	$4.43M
13	—	Hsbc Holdings Plc	2.21%	34.8%	-	$4.37M
14	—	Fifth Third Bancorp, Series I, Pfd.	2.20%	37.0%	169,409	$4.35M
15	ATH	Athene Holding Ltd. Class A	2.03%	39.0%	161,920	$4.02M
16	—	Ft Real Estate Secs /pfd//res/	2.02%	41.0%	878	$4.01M
17	CMA	Comerica Inc.	2.00%	43.0%	153,320	$3.96M
18	—	Land O' Lakes Inc 144a 7.250000% Maturity: Perpetual	2.00%	45.0%	-	$3.95M
19	—	Liberty Mutual Insurance, 7.697% Due October 15, 2097	1.76%	46.8%	-	$3.48M
20	Debt	The PNC Financial Services Group, Inc. 6.00% Dec 31/99	1.67%	48.5%	-	$3.30M
21	—	Synovus Financial Corp	1.64%	50.1%	122,848	$3.24M
22	MS.PK	Morgan Stanley, Series K, Pfd.	1.59%	51.7%	126,844	$3.14M
23	Debt	Banco Bilbao Vizcaya Argentaria Sa	1.53%	53.2%	-	$3.03M
24	—	Emera Inc V/R 06/15/76	1.50%	54.7%	-	$2.96M
25	SYF	Synchrony Financial	1.38%	56.1%	118,800	$2.74M
26	AQNB	Algonquin Pwr & Utility	1.36%	57.5%	104,510	$2.69M
27	—	Wells Fargo + Company Jr Subordina 12/99 Var	1.29%	58.8%	-	$2.56M
28	—	Standard Chartered Plc	1.27%	60.0%	-	$2.51M
29	WSBC	Wesbanco, Inc.	1.27%	61.3%	97,210	$2.51M
30	—	Energy Transfer Lp Regd V/R /Perp/ Ser G 7.12500000	1.26%	62.6%	-	$2.50M
31	Debt	American International Group	1.22%	63.8%	-	$2.42M
32	—	Citizens Financial Group 12/99 1	1.18%	65.0%	-	$2.33M
33	MS.PF	Morgan Stanley, Series F, Pfd.	1.14%	66.1%	89,000	$2.25M
34	—	Keycorp, Series E, Pfd.	1.13%	67.2%	78,103	$2.23M
35	—	Enbridge Inc., Callable, 6.000% Jan 15, 2077	1.12%	68.3%	-	$2.22M
36	—	Keycorp KEY.PR.L	1.08%	69.4%	84,200	$2.13M
37	ESGRP	Enstar Group Ltd Pref Sr D	1.04%	70.5%	61,000	$2.05M
38	—	Amer Agcredit Aca Jr Subordina 144A Var 5.25% 2099-12-31	1.02%	71.5%	-	$2.02M
39	—	Lloyds Bk Gr Plc	0.98%	72.5%	-	$1.95M
40	—	Paramount Global, 6.37%, Due 03/30/2062	0.92%	73.4%	-	$1.82M
41	CFG	Citizens Financial Group Inc.	0.91%	74.3%	69,100	$1.79M
42	—	Dominion Energy Inc 09/11/2023	0.91%	75.2%	-	$1.80M
43	—	JPMorgan Chase + Co Jr Subordina 12/99 Var12/31/2099	0.91%	76.1%	-	$1.79M
44	ET	Energy Transfer	0.90%	77.0%	-	$1.79M
45	MTB	M&T Bank Corp	0.88%	77.9%	51,866	$1.75M
46	—	Edison International 5 3/71	0.87%	78.8%	-	$1.72M
47	—	Kkr Real Estate Fin Tr 6.5 Cum Pfd	0.87%	79.6%	95,536	$1.73M
48	—	Banco Santander Sa 0 03-01-2024	0.85%	80.5%	-	$1.69M
49	—	The Goldman Sachs Group Inc	0.85%	81.3%	-	$1.68M
50	—	Northpointe Bancshares Inc	0.83%	82.2%	67,000	$1.65M
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FLC ETF All Holdings

FLC holdings total 257 positions. The top 10 holdings account for 28.0% of the fund, led by Liberty Mutual Group Inc at 3.7%, Metlife Inc Jr Subordina 144a 04/38 9.25 at 3.2%, Provident Financing Trust I at 3.2%.

FLC portfolio concentration is well-diversified, with the top 10 representing 28.0% of total assets. The largest sector exposure is Financials at 97.5%.

FLC sectors provide a detailed breakdown. FLC overlap shows how holdings compare to other funds in your portfolio.

Compare FLC

FLC vs SPY FLC vs QQQ FLC vs VOO FLC vs VTI FLC vs IVV FLC vs SCHD FLC vs VYM FLC vs VXUS

FLC ETF Holdings

212 of 257 holdings

Sector

Industry

Sort By

1
Liberty Mutual Group Inc
LIBMUT 7.8 03/15/37 Financials
3.70%
2
Metlife Inc Jr Subordina 144a 04/38 9.25
MET 9.25 04/08/38Financials
3.24%
3
Provident Financing Trust I
UNM 7.405 03/15/38Financials
3.20%
4
Delphi Financial Group Inc
DFGUnknown
2.81%
5
New York Community Bancorp, Inc., Series A., Pfd.
FLG V6.375 PERP A.Financials
2.72%
6
Blackrock Liquidity Funds T-Fund
TSTXXFinancials
2.67%
7
Banco Santander, S.A. 4.75% Perp
SANTANFinancials
2.60%
8
Metlife Inc
MET 10.75 08/01/39Financials
2.45%
9
Bnp Paribas Sa
BNP V7.75 PERP 144AFinancials
2.36%
10
Societe Generale Jr Subordina 144A 12/99 Var
SOCGENFinancials
2.29%
11
Societe Generale Sa
SOCGENFinancials
2.29%
12
Regions Financial Corp
RF.PR.CFinancials
2.24%
13
Hsbc Holdings Plc
HSBA:LNUnknown
2.21%
14
Fifth Third Bancorp, Series I, Pfd.
FITBIFinancials
2.20%
15
Athene Holding Ltd. Class A
ATHUnknown
2.03%
16
Ft Real Estate Secs /pfd//res/
FHNUnknown
2.02%
17
Comerica Inc.
CMAFinancials
2.00%
18
Land O' Lakes Inc 144a 7.250000% Maturity: Perpetual
LLAKES 7.25 PERP 144Consumer Staples
2.00%
19
Liberty Mutual Insurance, 7.697% Due October 15, 2097
LIBMUT 7.697 10/15/9Financials
1.76%
20
The Pnc Financial Services Group, Inc. 6.00% Dec 31/99 6% 12/31/2099
PNC V6 PERP UFinancials
1.67%
21
Synovus Financial Corp
SNV.PR.EFinancials
1.64%
22
Morgan Stanley, Series K, Pfd.
MS.PKFinancials
1.59%
23
Banco Bilbao Vizcaya Argentaria Sa 6.125 11/16/2027
BBVASMFinancials
1.53%
24
Emera Inc V/R 06/15/76
EMACN V6.75 06/15/76Utilities
1.50%
25
Synchrony Financial
SYFFinancials
1.38%
26
Algonquin Pwr & Utility
AQNBUtilities
1.36%
27
Wells Fargo + Company Jr Subordina 12/99 Var
WFC V7.625 PERPFinancials
1.29%
28
Standard Chartered Plc
STANLN V7.75 PERP 14Financials
1.27%
29
Wesbanco, Inc.
WSBCFinancials
1.27%
30
Energy Transfer Lp Regd V/R /Perp/ Ser G 7.12500000
ET V7.125 PERP GEnergy
1.26%
31
American Intl Group 8.175 05/15/2058
Other
1.22%
32
Citizens Financial Group 12/99 1
CFG V6.375 PERP CFinancials
1.18%
33
Morgan Stanley, Series F, Pfd.
MS.PFFinancials
1.14%
34
Keycorp, Series E, Pfd.
KEY.PIFinancials
1.13%
35
Enbridge Inc., Callable, 6.000% Jan 15, 2077
ENBCN V6 01/15/77 16Energy
1.12%
36
Keycorp KEY.PR.L
KEY.PR.LFinancials
1.08%
37
Enstar Group Ltd Pref Sr D
ESGRPFinancials
1.04%
38
Amer Agcredit Aca Jr Subordina 144A Var 5.25% 2099-12-31
AAGACA V5.25 PERP QIFinancials
1.02%
39
Lloyds Bk Gr Plc
Other
0.98%
40
Paramount Global, 6.37%, Due 03/30/2062
PARA V6.375 03/30/62Communication Services
0.92%
41
Citizens Financial Group Inc.
CFGFinancials
0.91%
42
Dominion Energy Inc 09/11/2023
Other
0.91%
43
Jpmorgan Chase + Co Jr Subordina 12/99 Var12/31/2099
JPM V6.875 PERP NNFinancials
0.91%
44
Energy Transfer
ETEnergy
0.90%
45
M&T Bank Corp
MTB.PR.HFinancials
0.88%
46
Edison Intl 5 3/71
EIX V5 PERP BUtilities
0.87%
47
Kkr Real Estate Fin Tr 6.5 Cum Pfd
KREF.PAFinancials
0.87%
48
Banco Santander Sa 0 03-01-2024
Other
0.85%
49
Goldman Sachs Group Inc/the
GS V7.56 PERP RFinancials
0.85%
50
Northpointe Bancshares Inc
NRTBNC.PUnknown
0.83%
51
First Citizens BancShares Inc
FCNCAFinancials
0.82%
52
Citigroup Inc 7.375 Perp
C V7.375 PERP ZFinancials
0.81%
53
Psx V6.2 03/15/56 B Corp
Other
0.81%
54
Fifth Third Bancorp
FITBFinancials
0.80%
55
Eushi Finance Inc 7.63% 12/15/2054
Other
0.79%
56
Wells Fargo + Company Jr Subordina 12/99 Var
WFC V6.85 PERPFinancials
0.78%
57
Huntington Bancshares Inc./Oh
HBANFinancials
0.77%
58
Arbor Realty Trust Prfd F
ABR.PR.FFinancials
0.75%
59
Citigroup Inc
C V4.15 PERP YFinancials
0.75%
60
Kuvare Us Holdings Inc
KUVARE V7 02/17/51 1Financials
0.74%
61
Everest Reinsurance Holdings Inc
Other
0.73%
62
Entergy Corp 7.13% 01Dec2054
ETR V7.125 12/01/54Utilities
0.72%
63
Sbl Holdings, Llc 6.5% 12/31/2099
Other
0.72%
64
Morgan Stanley, Series E, Pfd.
MS.PEFinancials
0.71%
65
Pnc Financial Services Group, Inc. 6.2506/15/2023
PNC V6.25 PERP WFinancials
0.71%
66
Ally Financial Inc Jr Subordina 12/99 Var 4.7
ALLY V4.7 PERP BFinancials
0.69%
67
American Electric V/R 12/15/54
AEP V6.95 12/15/54Utilities
0.68%
68
Royal Bank Of Canada Jr Subordina 11/84 Var
RY V6.35 11/24/84Financials
0.68%
69
Sbl Holdings Inc Sr Unsecured 144a Var
Other
0.67%
70
Land O' Lakes Inc
LLAKES 7 PERP 144AConsumer Staples
0.66%
71
Umb Financial Corp
UMBFFinancials
0.65%
72
Duke Energy Corp Jr Subordina 09/54 Var
DUK V6.45 09/01/54Utilities
0.64%
73
Aercap Ireland Capital Dac / Aercap Global Aviation Trust Var.Rt. Corp. Bonds
AER V6.95 03/10/55Financials
0.63%
74
Athene (Ath) / Apollo Global Management (Apo)
APOFinancials
0.62%
75
Dime Community Bancshares Inc
DCOMP.PFinancials
0.62%
76
Reinsurance Group Of America Inc
RGA V7.125 10/15/52Financials
0.61%
77
Valley National Bancorp
VLYFinancials
0.60%
78
Forward Foreign Currency Contract
Other
0.60%
79
Capital One Ficial Corporation 3.95% 12/31/2099
COF V3.95 PERP MFinancials
0.59%
80
Connectone Bancorp Inc
CNOBFinancials
0.58%
81
Bank Of Nova Scotia/The 8 01-27-2084
BNS V8 01/27/84Financials
0.57%
82
Sce Trust V
SCE.PKUtilities
0.56%
83
Sce Trust Vii
SCE.PRMUtilities
0.54%
84
Cnp 3.6 11/01/21
Other
0.52%
85
State Street Corp Jr Subordina 12/99 Var 6.7
STT V6.7 PERP IFinancials
0.52%
86
Bank Of Montreal (Callable) 7.70% May 26, 2084
BMO V7.7 05/26/84Financials
0.51%
87
General Motors Financial Co In Jr Subordina 12/99 Var
GM V6.5 PERP BFinancials
0.51%
88
Bell Telephone Company (Nc10.5) 7 09/15/2055
BCECN V7 09/15/55Communication Services
0.50%
89
Comed Financing Iii
Other
0.50%
90
Royal Bank Of Canada 7.5% May 02, 2084
RY V7.5 05/02/84Financials
0.50%
91
Societe Generale Jr Subordina 144A 12/99 Var
Other
0.50%
92
Aes Corp/The 7.6% 15Jan2055
AES V7.6 01/15/55Utilities
0.50%
93
Sempra Energy, 4.12%, Due 04/01/2052
SRE V4.125 04/01/52Utilities
0.49%
94
Global Atlantic Finance Co.
GBLATL 7.95 06/15/33Financials
0.48%
95
Societe Generale Sa
Other
0.48%
96
Liberty Mutual Gr V/R 12/15/51
LIBMUT V4.125 12/15/Financials
0.47%
97
Nextera Energy Ca V/R 06/15/54
NEE V6.75 06/15/54Utilities
0.47%
98
Royal Bank Of Canada 6.500% Flt 11/24/85
Other
0.47%
99
Wells Fargo + Company Jr Subordina 12/99 Var
WFC V3.9 PERP BBFinancials
0.47%
100
Bank Of America Corp Jr Subordina 12/99 Var 6.625 07/24/2025
BAC V6.25 PERPFinancials
0.46%
101
Barclays PLC 4.375%
BACR V4.375 PERPFinancials
0.45%
102
Wintrust Financial Corp
WTFCFinancials
0.44%
103
Jpmorgan Chase And Co 3.65
JPM V3.65 PERP KKFinancials
0.43%
104
UBS Group, 4.875% perp., USD
UBS V4.875 PERP 144AFinancials
0.43%
105
Ally Finl Inc 4.7%/Var Perp
ALLY V4.7 PERP CFinancials
0.43%
106
Canadian Imperial Bank 7.000% Flt 10/28/85
CM V7 10/28/85Financials
0.42%
107
Evergy Inc Subordinated 06/55 Var
EVRG V6.65 06/01/55Utilities
0.42%
108
Goldman Sachs Group Inc Regd V/r /perp/ Ser Q 5.50000000
GS V7.379 PERP QFinancials
0.42%
109
Bank Of N Vrn 10/27/85
Other
0.41%
110
Corebridge Financial Inc Variable Rate, Due 09/15/2054
CRBG V6.375 09/15/54Financials
0.41%
111
Nextera Energy 1.875% 01/15/27
NEE 1.875 01/15/27Utilities
0.41%
112
Qwest Corp Preferred Stock 06/57 6.75
CTDDCommunication Services
0.41%
113
Sempra 5.5 08/01/2033
SRE 5.5 08/01/33Utilities
0.41%
114
Voya Financial Inc
VOYA.PR.BFinancials
0.41%
115
PartnerRe Ltd.
PRE.J:BMUnknown
0.41%
116
Bank Of New York Mellon Corp
BKFinancials
0.40%
117
Dte Energy Company
DTEUtilities
0.40%
118
General Motors Financial Co Inc (Pfd) 5.70% 03/30/2172 Perpetual
GM V5.7 PERP CFinancials
0.40%
119
Northwest Natural Holdi Jr Subordina 09/55 Var 7% 09/15/2055
NWN V7 09/15/55Utilities
0.40%
120
Xcel Energy, Inc
XELUtilities
0.40%
121
Algonquin Power & Utilities Corp., 4.75%,Jan18,2082
AQNCN V4.75 01/18/82Utilities
0.40%
122
Banco Mercantil De Norte Regd V/R /Perp/ 144A P/P 6.62500000
BANORT V6.625 PERP 1Financials
0.39%
123
Bank Nova Scoti 7.35 4/85
BNS V7.35 04/27/85Financials
0.39%
124
Fmc Corp V/R 11/01/55
FMC V8.45 11/01/55Materials
0.39%
125
Nisource Inc. 6.95 11/30/2054
NI V6.95 11/30/54Utilities
0.39%
126
Pnc Financial Servi V/R /Perp/
PNC V6.2 PERP VFinancials
0.39%
127
Texas Capital Bancshares Inc
TCBIFinancials
0.39%
128
American Express Co 3.55 Perpetl 9/15/2174
AXP V3.55 PERPFinancials
0.38%
129
Ing Groep Nv
INTNED V3.875 PERPFinancials
0.38%
130
Rogers Communications, Inc.
RCICN V5.25 03/15/82Communication Services
0.38%
131
American National Group Inc
AEL.PRAUnknown
0.37%
132
Banco Mercantil Del Norte Variable Rate
BANORTFinancials
0.37%
133
Banco Mercantil Del Norte, S.a.
BANORT V7.5 PERP 144Financials
0.37%
134
South Bow Canadian Infrastructure Holdings Ltd 0.075 03/01/2055
SOBOCNUtilities
0.37%
135
Affiliated Managers Group Inc.
AMGFinancials
0.37%
136
Credit Agricole Sa 7.13% Sep 23/35
Other
0.36%
137
Enstar Finance Ll V/R 01/15/42
ESGR V5.5 01/15/42Financials
0.36%
138
Hsbc Holdings Plc 5Y Us Ti + 3.191
HSBC V6.95 PERPFinancials
0.36%
139
Stifel Finl Corp
SFFinancials
0.36%
140
Tpg Operating Group Ii Lp
TPGXLFinancials
0.36%
141
Altagas Ltd V/R 10/15/54
ALACN V7.2 10/15/54 Utilities
0.35%
142
Cvs Health Corp 7% 10Mar2055
CVS V7 03/10/55Health Care
0.35%
143
Canadian Imperial Bank Jr Subordina 01/85 Var
CM V6.95 01/28/85Financials
0.35%
144
M&T Bank Corp 3.500000% Maturity: Perpetual
MTB V3.5 PERPFinancials
0.35%
145
Bbva Bancomer Sa V/R 09/13/34
BBVASM V5.875 09/13/Financials
0.34%
146
Farm Credit Bk Of Texas Jr Subordina 12/99 Var
FARMCB V7 PERP 6Financials
0.34%
147
Hsbc Holdings Plc Jr Subordina 12/99 Var 7.25 12/31/2099
HSBC V7.05 PERPFinancials
0.34%
148
Sce Trust Viii
EIX 6.95 PERP NUtilities
0.34%
149
Spire Inc. 0% 05/31/2056
Other
0.34%
150
Adamas Trust, Inc. Common Stock
ADAM:ILUnknown
0.34%
151
American Electric Power Co Inc 0.0605 03/f15/2056
Other
0.33%
152
Dominion Energy Inc 4.350000% Maturity: Perpetual Callable 01/15/2027 At 100.0000
D V4.35 PERP CUtilities
0.33%
153
Entergy Corp Variable Rate, Due 06/15/2056
Other
0.33%
154
Equitable Holdings Inc
Other
0.33%
155
Metlife Capital Trust Iv
MET 7.875 12/15/37Financials
0.32%
156
Sunoco LP 7.88 03/18/2174
Other
0.32%
157
Wells Fargo & Co.
WFCFinancials
0.32%
158
Cobank Acb
COBKACFinancials
0.31%
159
ROYAL BANK OF CANADA JR SUBORDINA 08/85 VAR
RY V6.75 08/24/85Financials
0.31%
160
Ubs Group Ag 144A 4.375000% Maturity: Perpetual
UBS V4.375 PERP 144AFinancials
0.31%
161
Bnp Paribas Sa
BNP V9.25 PERP 144AFinancials
0.30%
162
Citigroup Inc 3.88% 12/31/2099
C V3.875 PERP XFinancials
0.30%
163
Telus Corp V/R 10/15/55
TCN V7 10/15/55Communication Services
0.30%
164
Corebridge Financial, Inc. 6.88% Dec 01/30
Other
0.29%
165
Fortegra Group Inc/The 9.25 11/15/2064
Other
0.29%
166
Lincoln National Corporation Series D 9.00% Preferred
LNC.PRDFinancials
0.29%
167
Lincoln National, 9.25% perp., USD
LNC V9.25 PERP CFinancials
0.29%
168
Qwest Corp Preferred Stock 09/56 6.5
CTBBCommunication Services
0.29%
169
Aercap Ireland Cap/Globa Company Guar 01/56 Var
AER V6.5 01/31/56Financials
0.29%
170
Edison International 5Y Us Ti + 4.698 12/31/2049
EIX V5.375 PERP AUtilities
0.28%
171
F&G Annuities And Life Inc
FGFinancials
0.28%
172
Transcanada Trust 5.5% 09/15/2079
TRPCN V5.5 09/15/79Financials
0.28%
173
Western Alliance Bancorp
WAL.PR.AFinancials
0.28%
174
Morgan Stanley 5.3% 12/31/2049
MS V0 PERP NFinancials
0.27%
175
Bank Of Montreal Jr Subordina 11/84 Var %
BMO V7.3 11/26/84Financials
0.26%
176
Barclays Plc 8 12/71
A3K745Financials
0.26%
177
Cadence Bancorp Common Stock
CADEFinancials
0.26%
178
First Horizon Natl Corp 6.5 Pfd
FHN.PEFinancials
0.26%
179
Nextera Energy Capital Holding Company Guar 09/54 Var 6.7 2054-09-01
NEE V6.7 09/01/54Utilities
0.26%
180
Tpg Re Finance Trust, Inc.
TRTXFinancials
0.26%
181
Toronto-Dominion Bank/The
Other
0.26%
182
Athene Holding Ltd Pref
ATH 4.875 PERP DFinancials
0.25%
183
Cms Energy Corp 6.5 2055-06-01
CMS V6.5 06/01/55Utilities
0.25%
184
Exelon Corporation 6.5% Mar 15, 2055
EXC V6.5 03/15/55Utilities
0.25%
185
Hsbc Holdings Plc 6 05/22/2027
HSBC V6 PERP *Financials
0.25%
186
Universal Insurance Holdings, Inc.
Other
0.25%
187
Perpetual Bonds
ACAFPUnknown
0.23%
188
Corporate Bonds
BNP V4.625 PERP 144AFinancials
0.22%
189
Prudential Fin 6.75 03/01/2053
PRU V6.75 03/01/53Financials
0.22%
190
Southern Co Sr Unsecured 07/36 4.25
SO 4.25 07/01/36Utilities
0.22%
191
Compeer Financial Aca
AGSTAR V4.875 PERP QFinancials
0.21%
192
Jackson Financial Inc., Pfd.
JXN V8 PERPFinancials
0.21%
193
Standard Chartered Plc
Other
0.21%
194
Washington Fed Hwy Grnt Antic
WAFDFinancials
0.21%
195
Huntington Bancshares Incorporated 4.45% Oct 15/27
HBAN V4.45 PERP GFinancials
0.20%
196
Natwest Group Pl
NWG V4.6 PERP .*.Financials
0.20%
197
Pnc Financial Services Jr Subordina 12/99 Var
PNC V3.4 PERP TFinancials
0.20%
198
Wells Fargo & Co., Class A, Series L, Conv. Pfd.
WFC.PRLFinancials
0.20%
199
Assurant, Inc.
AIZNFinancials
0.19%
200
Huntington Bancshares Regd V/r /perp/ Ser F 5.62500000
HBAN V5.625 PERP FFinancials
0.19%
201
Bank Of America Corporation 6.13% Dec 31/99 6.125% 12/31/2099
BAC V6.125 PERP TTFinancials
0.18%
202
Capital One Financial Corporation Depositary Shs Repr 1/40Th 5% Non-Cum Red Perp Pfd Registered Shs
COF.PR.IFinancials
0.17%
203
Webster Financial Corp
WBS.PR.GFinancials
0.16%
204
Cno Financial Group Inc
CNOFinancials
0.15%
205
Citigroup, Inc. Pref
C V4 PERP WFinancials
0.15%
206
Carlyle Finance Llc
CGABLFinancials
0.14%
207
Fulton Financial Corp
FULTFinancials
0.11%
208
General Motors Financial Co Inc
GMFinancials
0.11%
209
Arbor Rlty Tr Inc 6.375 Cum Pfd
ABR.PDFinancials
0.09%
210
Vistra Corp Regd V/R /Perp/ 144A P/P 7.00000000
VST V7 PERP 144AUtilities
0.09%
211
Annaly Capital Mgmt Ser F
NLY.FFinancials
0.06%
212
Lehman Bros Hldg-escrow
LEHUnknown
0.00%

#	Company	Ticker	Weight
1	Liberty Mutual Group Inc	LIBMUT 7.8 03/15/37	3.700%
2	Metlife Inc Jr Subordina 144a 04/38 9.25	MET 9.25 04/08/38	3.240%
3	Provident Financing Trust I	UNM 7.405 03/15/38	3.200%
4	Delphi Financial Group Inc	DFG	2.810%
5	New York Community Bancorp, Inc., Series A., Pfd.	FLG V6.375 PERP A.	2.720%
6	Blackrock Liquidity Funds T-Fund	TSTXX	2.670%
7	Banco Santander, S.A. 4.75% Perp	SANTAN	2.600%
8	Metlife Inc	MET 10.75 08/01/39	2.450%
9	Bnp Paribas Sa	BNP V7.75 PERP 144A	2.360%
10	Societe Generale Jr Subordina 144A 12/99 Var	SOCGEN	2.290%
11	Societe Generale Sa	SOCGEN	2.290%
12	Regions Financial Corp	RF.PR.C	2.240%
13	Hsbc Holdings Plc	HSBA:LN	2.210%
14	Fifth Third Bancorp, Series I, Pfd.	FITBI	2.200%
15	Athene Holding Ltd. Class A	ATH	2.030%
16	Ft Real Estate Secs /pfd//res/	FHN	2.020%
17	Comerica Inc.	CMA	2.000%
18	Land O' Lakes Inc 144a 7.250000% Maturity: Perpetual	LLAKES 7.25 PERP 144	2.000%
19	Liberty Mutual Insurance, 7.697% Due October 15, 2097	LIBMUT 7.697 10/15/9	1.760%
20	The Pnc Financial Services Group, Inc. 6.00% Dec 31/99 6% 12/31/2099	PNC V6 PERP U	1.670%
21	Synovus Financial Corp	SNV.PR.E	1.640%
22	Morgan Stanley, Series K, Pfd.	MS.PK	1.590%
23	Banco Bilbao Vizcaya Argentaria Sa 6.125 11/16/2027	BBVASM	1.530%
24	Emera Inc V/R 06/15/76	EMACN V6.75 06/15/76	1.500%
25	Synchrony Financial	SYF	1.380%
26	Algonquin Pwr & Utility	AQNB	1.360%
27	Wells Fargo + Company Jr Subordina 12/99 Var	WFC V7.625 PERP	1.290%
28	Standard Chartered Plc	STANLN V7.75 PERP 14	1.270%
29	Wesbanco, Inc.	WSBC	1.270%
30	Energy Transfer Lp Regd V/R /Perp/ Ser G 7.12500000	ET V7.125 PERP G	1.260%
31	American Intl Group 8.175 05/15/2058	-	1.220%
32	Citizens Financial Group 12/99 1	CFG V6.375 PERP C	1.180%
33	Morgan Stanley, Series F, Pfd.	MS.PF	1.140%
34	Keycorp, Series E, Pfd.	KEY.PI	1.130%
35	Enbridge Inc., Callable, 6.000% Jan 15, 2077	ENBCN V6 01/15/77 16	1.120%
36	Keycorp KEY.PR.L	KEY.PR.L	1.080%
37	Enstar Group Ltd Pref Sr D	ESGRP	1.040%
38	Amer Agcredit Aca Jr Subordina 144A Var 5.25% 2099-12-31	AAGACA V5.25 PERP QI	1.020%
39	Lloyds Bk Gr Plc	-	0.980%
40	Paramount Global, 6.37%, Due 03/30/2062	PARA V6.375 03/30/62	0.920%
41	Citizens Financial Group Inc.	CFG	0.910%
42	Dominion Energy Inc 09/11/2023	-	0.910%
43	Jpmorgan Chase + Co Jr Subordina 12/99 Var12/31/2099	JPM V6.875 PERP NN	0.910%
44	Energy Transfer	ET	0.900%
45	M&T Bank Corp	MTB.PR.H	0.880%
46	Edison Intl 5 3/71	EIX V5 PERP B	0.870%
47	Kkr Real Estate Fin Tr 6.5 Cum Pfd	KREF.PA	0.870%
48	Banco Santander Sa 0 03-01-2024	-	0.850%
49	Goldman Sachs Group Inc/the	GS V7.56 PERP R	0.850%
50	Northpointe Bancshares Inc	NRTBNC.P	0.830%
51	First Citizens BancShares Inc	FCNCA	0.820%
52	Citigroup Inc 7.375 Perp	C V7.375 PERP Z	0.810%
53	Psx V6.2 03/15/56 B Corp	-	0.810%
54	Fifth Third Bancorp	FITB	0.800%
55	Eushi Finance Inc 7.63% 12/15/2054	-	0.790%
56	Wells Fargo + Company Jr Subordina 12/99 Var	WFC V6.85 PERP	0.780%
57	Huntington Bancshares Inc./Oh	HBAN	0.770%
58	Arbor Realty Trust Prfd F	ABR.PR.F	0.750%
59	Citigroup Inc	C V4.15 PERP Y	0.750%
60	Kuvare Us Holdings Inc	KUVARE V7 02/17/51 1	0.740%
61	Everest Reinsurance Holdings Inc	-	0.730%
62	Entergy Corp 7.13% 01Dec2054	ETR V7.125 12/01/54	0.720%
63	Sbl Holdings, Llc 6.5% 12/31/2099	-	0.720%
64	Morgan Stanley, Series E, Pfd.	MS.PE	0.710%
65	Pnc Financial Services Group, Inc. 6.2506/15/2023	PNC V6.25 PERP W	0.710%
66	Ally Financial Inc Jr Subordina 12/99 Var 4.7	ALLY V4.7 PERP B	0.690%
67	American Electric V/R 12/15/54	AEP V6.95 12/15/54	0.680%
68	Royal Bank Of Canada Jr Subordina 11/84 Var	RY V6.35 11/24/84	0.680%
69	Sbl Holdings Inc Sr Unsecured 144a Var	-	0.670%
70	Land O' Lakes Inc	LLAKES 7 PERP 144A	0.660%
71	Umb Financial Corp	UMBF	0.650%
72	Duke Energy Corp Jr Subordina 09/54 Var	DUK V6.45 09/01/54	0.640%
73	Aercap Ireland Capital Dac / Aercap Global Aviation Trust Var.Rt. Corp. Bonds	AER V6.95 03/10/55	0.630%
74	Athene (Ath) / Apollo Global Management (Apo)	APO	0.620%
75	Dime Community Bancshares Inc	DCOMP.P	0.620%
76	Reinsurance Group Of America Inc	RGA V7.125 10/15/52	0.610%
77	Valley National Bancorp	VLY	0.600%
78	Forward Foreign Currency Contract	-	0.600%
79	Capital One Ficial Corporation 3.95% 12/31/2099	COF V3.95 PERP M	0.590%
80	Connectone Bancorp Inc	CNOB	0.580%
81	Bank Of Nova Scotia/The 8 01-27-2084	BNS V8 01/27/84	0.570%
82	Sce Trust V	SCE.PK	0.560%
83	Sce Trust Vii	SCE.PRM	0.540%
84	Cnp 3.6 11/01/21	-	0.520%
85	State Street Corp Jr Subordina 12/99 Var 6.7	STT V6.7 PERP I	0.520%
86	Bank Of Montreal (Callable) 7.70% May 26, 2084	BMO V7.7 05/26/84	0.510%
87	General Motors Financial Co In Jr Subordina 12/99 Var	GM V6.5 PERP B	0.510%
88	Bell Telephone Company (Nc10.5) 7 09/15/2055	BCECN V7 09/15/55	0.500%
89	Comed Financing Iii	-	0.500%
90	Royal Bank Of Canada 7.5% May 02, 2084	RY V7.5 05/02/84	0.500%
91	Societe Generale Jr Subordina 144A 12/99 Var	-	0.500%
92	Aes Corp/The 7.6% 15Jan2055	AES V7.6 01/15/55	0.500%
93	Sempra Energy, 4.12%, Due 04/01/2052	SRE V4.125 04/01/52	0.490%
94	Global Atlantic Finance Co.	GBLATL 7.95 06/15/33	0.480%
95	Societe Generale Sa	-	0.480%
96	Liberty Mutual Gr V/R 12/15/51	LIBMUT V4.125 12/15/	0.470%
97	Nextera Energy Ca V/R 06/15/54	NEE V6.75 06/15/54	0.470%
98	Royal Bank Of Canada 6.500% Flt 11/24/85	-	0.470%
99	Wells Fargo + Company Jr Subordina 12/99 Var	WFC V3.9 PERP BB	0.470%
100	Bank Of America Corp Jr Subordina 12/99 Var 6.625 07/24/2025	BAC V6.25 PERP	0.460%
101	Barclays PLC 4.375%	BACR V4.375 PERP	0.450%
102	Wintrust Financial Corp	WTFC	0.440%
103	Jpmorgan Chase And Co 3.65	JPM V3.65 PERP KK	0.430%
104	UBS Group, 4.875% perp., USD	UBS V4.875 PERP 144A	0.430%
105	Ally Finl Inc 4.7%/Var Perp	ALLY V4.7 PERP C	0.430%
106	Canadian Imperial Bank 7.000% Flt 10/28/85	CM V7 10/28/85	0.420%
107	Evergy Inc Subordinated 06/55 Var	EVRG V6.65 06/01/55	0.420%
108	Goldman Sachs Group Inc Regd V/r /perp/ Ser Q 5.50000000	GS V7.379 PERP Q	0.420%
109	Bank Of N Vrn 10/27/85	-	0.410%
110	Corebridge Financial Inc Variable Rate, Due 09/15/2054	CRBG V6.375 09/15/54	0.410%
111	Nextera Energy 1.875% 01/15/27	NEE 1.875 01/15/27	0.410%
112	Qwest Corp Preferred Stock 06/57 6.75	CTDD	0.410%
113	Sempra 5.5 08/01/2033	SRE 5.5 08/01/33	0.410%
114	Voya Financial Inc	VOYA.PR.B	0.410%
115	PartnerRe Ltd.	PRE.J:BM	0.410%
116	Bank Of New York Mellon Corp	BK	0.400%
117	Dte Energy Company	DTE	0.400%
118	General Motors Financial Co Inc (Pfd) 5.70% 03/30/2172 Perpetual	GM V5.7 PERP C	0.400%
119	Northwest Natural Holdi Jr Subordina 09/55 Var 7% 09/15/2055	NWN V7 09/15/55	0.400%
120	Xcel Energy, Inc	XEL	0.400%
121	Algonquin Power & Utilities Corp., 4.75%,Jan18,2082	AQNCN V4.75 01/18/82	0.400%
122	Banco Mercantil De Norte Regd V/R /Perp/ 144A P/P 6.62500000	BANORT V6.625 PERP 1	0.390%
123	Bank Nova Scoti 7.35 4/85	BNS V7.35 04/27/85	0.390%
124	Fmc Corp V/R 11/01/55	FMC V8.45 11/01/55	0.390%
125	Nisource Inc. 6.95 11/30/2054	NI V6.95 11/30/54	0.390%
126	Pnc Financial Servi V/R /Perp/	PNC V6.2 PERP V	0.390%
127	Texas Capital Bancshares Inc	TCBI	0.390%
128	American Express Co 3.55 Perpetl 9/15/2174	AXP V3.55 PERP	0.380%
129	Ing Groep Nv	INTNED V3.875 PERP	0.380%
130	Rogers Communications, Inc.	RCICN V5.25 03/15/82	0.380%
131	American National Group Inc	AEL.PRA	0.370%
132	Banco Mercantil Del Norte Variable Rate	BANORT	0.370%
133	Banco Mercantil Del Norte, S.a.	BANORT V7.5 PERP 144	0.370%
134	South Bow Canadian Infrastructure Holdings Ltd 0.075 03/01/2055	SOBOCN	0.370%
135	Affiliated Managers Group Inc.	AMG	0.370%
136	Credit Agricole Sa 7.13% Sep 23/35	-	0.360%
137	Enstar Finance Ll V/R 01/15/42	ESGR V5.5 01/15/42	0.360%
138	Hsbc Holdings Plc 5Y Us Ti + 3.191	HSBC V6.95 PERP	0.360%
139	Stifel Finl Corp	SF	0.360%
140	Tpg Operating Group Ii Lp	TPGXL	0.360%
141	Altagas Ltd V/R 10/15/54	ALACN V7.2 10/15/54	0.350%
142	Cvs Health Corp 7% 10Mar2055	CVS V7 03/10/55	0.350%
143	Canadian Imperial Bank Jr Subordina 01/85 Var	CM V6.95 01/28/85	0.350%
144	M&T Bank Corp 3.500000% Maturity: Perpetual	MTB V3.5 PERP	0.350%
145	Bbva Bancomer Sa V/R 09/13/34	BBVASM V5.875 09/13/	0.340%
146	Farm Credit Bk Of Texas Jr Subordina 12/99 Var	FARMCB V7 PERP 6	0.340%
147	Hsbc Holdings Plc Jr Subordina 12/99 Var 7.25 12/31/2099	HSBC V7.05 PERP	0.340%
148	Sce Trust Viii	EIX 6.95 PERP N	0.340%
149	Spire Inc. 0% 05/31/2056	-	0.340%
150	Adamas Trust, Inc. Common Stock	ADAM:IL	0.340%
151	American Electric Power Co Inc 0.0605 03/f15/2056	-	0.330%
152	Dominion Energy Inc 4.350000% Maturity: Perpetual Callable 01/15/2027 At 100.0000	D V4.35 PERP C	0.330%
153	Entergy Corp Variable Rate, Due 06/15/2056	-	0.330%
154	Equitable Holdings Inc	-	0.330%
155	Metlife Capital Trust Iv	MET 7.875 12/15/37	0.320%
156	Sunoco LP 7.88 03/18/2174	-	0.320%
157	Wells Fargo & Co.	WFC	0.320%
158	Cobank Acb	COBKAC	0.310%
159	ROYAL BANK OF CANADA JR SUBORDINA 08/85 VAR	RY V6.75 08/24/85	0.310%
160	Ubs Group Ag 144A 4.375000% Maturity: Perpetual	UBS V4.375 PERP 144A	0.310%
161	Bnp Paribas Sa	BNP V9.25 PERP 144A	0.300%
162	Citigroup Inc 3.88% 12/31/2099	C V3.875 PERP X	0.300%
163	Telus Corp V/R 10/15/55	TCN V7 10/15/55	0.300%
164	Corebridge Financial, Inc. 6.88% Dec 01/30	-	0.290%
165	Fortegra Group Inc/The 9.25 11/15/2064	-	0.290%
166	Lincoln National Corporation Series D 9.00% Preferred	LNC.PRD	0.290%
167	Lincoln National, 9.25% perp., USD	LNC V9.25 PERP C	0.290%
168	Qwest Corp Preferred Stock 09/56 6.5	CTBB	0.290%
169	Aercap Ireland Cap/Globa Company Guar 01/56 Var	AER V6.5 01/31/56	0.290%
170	Edison International 5Y Us Ti + 4.698 12/31/2049	EIX V5.375 PERP A	0.280%
171	F&G Annuities And Life Inc	FG	0.280%
172	Transcanada Trust 5.5% 09/15/2079	TRPCN V5.5 09/15/79	0.280%
173	Western Alliance Bancorp	WAL.PR.A	0.280%
174	Morgan Stanley 5.3% 12/31/2049	MS V0 PERP N	0.270%
175	Bank Of Montreal Jr Subordina 11/84 Var %	BMO V7.3 11/26/84	0.260%
176	Barclays Plc 8 12/71	A3K745	0.260%
177	Cadence Bancorp Common Stock	CADE	0.260%
178	First Horizon Natl Corp 6.5 Pfd	FHN.PE	0.260%
179	Nextera Energy Capital Holding Company Guar 09/54 Var 6.7 2054-09-01	NEE V6.7 09/01/54	0.260%
180	Tpg Re Finance Trust, Inc.	TRTX	0.260%
181	Toronto-Dominion Bank/The	-	0.260%
182	Athene Holding Ltd Pref	ATH 4.875 PERP D	0.250%
183	Cms Energy Corp 6.5 2055-06-01	CMS V6.5 06/01/55	0.250%
184	Exelon Corporation 6.5% Mar 15, 2055	EXC V6.5 03/15/55	0.250%
185	Hsbc Holdings Plc 6 05/22/2027	HSBC V6 PERP *	0.250%
186	Universal Insurance Holdings, Inc.	-	0.250%
187	Perpetual Bonds	ACAFP	0.230%
188	Corporate Bonds	BNP V4.625 PERP 144A	0.220%
189	Prudential Fin 6.75 03/01/2053	PRU V6.75 03/01/53	0.220%
190	Southern Co Sr Unsecured 07/36 4.25	SO 4.25 07/01/36	0.220%
191	Compeer Financial Aca	AGSTAR V4.875 PERP Q	0.210%
192	Jackson Financial Inc., Pfd.	JXN V8 PERP	0.210%
193	Standard Chartered Plc	-	0.210%
194	Washington Fed Hwy Grnt Antic	WAFD	0.210%
195	Huntington Bancshares Incorporated 4.45% Oct 15/27	HBAN V4.45 PERP G	0.200%
196	Natwest Group Pl	NWG V4.6 PERP .*.	0.200%
197	Pnc Financial Services Jr Subordina 12/99 Var	PNC V3.4 PERP T	0.200%
198	Wells Fargo & Co., Class A, Series L, Conv. Pfd.	WFC.PRL	0.200%
199	Assurant, Inc.	AIZN	0.190%
200	Huntington Bancshares Regd V/r /perp/ Ser F 5.62500000	HBAN V5.625 PERP F	0.190%
201	Bank Of America Corporation 6.13% Dec 31/99 6.125% 12/31/2099	BAC V6.125 PERP TT	0.180%
202	Capital One Financial Corporation Depositary Shs Repr 1/40Th 5% Non-Cum Red Perp Pfd Registered Shs	COF.PR.I	0.170%
203	Webster Financial Corp	WBS.PR.G	0.160%
204	Cno Financial Group Inc	CNO	0.150%
205	Citigroup, Inc. Pref	C V4 PERP W	0.150%
206	Carlyle Finance Llc	CGABL	0.140%
207	Fulton Financial Corp	FULT	0.110%
208	General Motors Financial Co Inc	GM	0.110%
209	Arbor Rlty Tr Inc 6.375 Cum Pfd	ABR.PD	0.090%
210	Vistra Corp Regd V/R /Perp/ 144A P/P 7.00000000	VST V7 PERP 144A	0.090%
211	Annaly Capital Mgmt Ser F	NLY.F	0.060%
212	Lehman Bros Hldg-escrow	LEH	0.000%