FPEI ETF

$18.43

AUM$1.9B

TER0.85%

Holdings351

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FPEI ETF

$18.43

First Trust Institutional Preferred Securities and Income ETF

AUM$1.9B

TER0.85%

Holdings351

See how much of FPEI you already own

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

BAC V6.625 PERP is FPEI's largest holding at 3.18% of the fund as of Sep 15, 2026. FPEI is First Trust Institutional Preferred Securities and Income ETF.

Showing top 50 of 177 holdings · as of Sep 15, 2026

FPEI holdings, by weight
#	Ticker	Name	Weight	Cumulative	Shares	Mkt value	Sector	Industry
1	Debt	Bank Of America Corp. 5Y Us Ti +Financials · Banks	3.18%	3.2%	59,542,000	$60.53M	Financials	Banks
2	—	Citigroup Inc 05/15/2174	2.13%	5.3%	40,238,000	$40.43M	-	-
Sector and industry · Pro
3	—	Credit Agricole Sa 7.13% Sep 23/35	2.02%	7.3%	38,354,000	$38.37M
4	—	Ing Groep Nv 7.000% Flt Perp Sr:.	1.74%	9.1%	32,775,000	$33.03M
5	Debt	Banco Bilbao Vizcaya Argentaria Sa	1.64%	10.7%	30,200,000	$31.22M
6	Debt	Enbridge Inc	1.53%	12.2%	25,881,000	$29.13M
7	—	Charles Schwab Corp Jr Subordina 12/99 Var 5	1.46%	13.7%	30,150,000	$27.82M
8	—	Banco Santander Saperpetual Bonds	1.46%	15.2%	24,200,000	$27.86M
9	—	Bank Of Montreal 7.7%	1.41%	16.6%	25,956,000	$26.89M
10	—	Bnp Paribas Sa 8.5 2028/08/14	1.29%	17.9%	23,450,000	$24.51M
11	—	Commerzbank Ag Variable Rate	1.27%	19.1%	23,400,000	$24.14M
12	—	Canadian Imperial Bank 7.000% Flt 10/28/85	1.24%	20.4%	23,300,000	$23.52M
13	—	Bnp Paribas Sa 7.2%	1.23%	21.6%	24,000,000	$23.42M
14	—	Hsbc Holdings Plc 5Y Us Ti + 3.191	1.22%	22.8%	23,150,000	$23.29M
15	HIG	Hartford Financial Services Group Inc/The 7.70899 2067-02-12	1.21%	24.0%	23,021,000	$23.06M
16	—	JPMorgan Chase + Co Jr Subordina 12/99 Var12/31/2099	1.20%	25.2%	22,200,000	$22.88M
17	Debt	Verizon Communications Inc	1.20%	26.4%	23,034,000	$22.78M
18	—	Wells Fargo + Company Jr Subordina 12/99 Var	1.15%	27.6%	21,323,000	$21.89M
19	Debt	Bell Telephone Company (Nc10.5)	1.12%	28.7%	21,286,000	$21.33M
20	—	Barclays Plc 8 12/71	1.10%	29.8%	20,050,000	$20.84M
21	—	Natwest Group Plcperpetual Bonds	1.09%	30.9%	19,200,000	$20.76M
22	—	Wells Fargo Co 6.125 6/74	1.07%	32.0%	20,500,000	$20.27M
23	—	Lloyds Banking Group Plc 8.0000% Mat 06/27/2172	1.04%	33.0%	18,780,000	$19.79M
24	—	Wells Fargo & Co., 7.50% Non-Cumul Perp Conv Cl A Preferred Stock, Series L	1.03%	34.0%	17,471	$19.59M
25	—	American Electric Power Co Inc 0.0605 03/f15/2056	1.03%	35.1%	20,272,000	$19.57M
26	—	Bank Of N Vrn 10/27/85	1.01%	36.1%	19,687,000	$19.29M
27	—	Aes Corporation (The) 6.95% Jul 15, 2055	1.00%	37.1%	19,491,000	$19.10M
28	—	Athene Holding Lt V/R 06/28/55	0.97%	38.0%	19,794,000	$18.37M
29	—	Amer Agcredit Aca Jr Subordina 144A Var 5.25% 2099-12-31	0.95%	39.0%	18,000,000	$18.00M
30	—	Sempra Variable Rate, Due 10/01/2054	0.95%	39.9%	18,364,000	$18.08M
31	—	Societe Generale Regd V/R /Perp/ 144A P/P 10.00000000	0.94%	40.9%	17,200,000	$17.81M
32	—	Eushi Finance Inc Company Guar 04/56 Var	0.94%	41.8%	18,375,000	$17.97M
33	HBAN	Huntington Bancshares Inc/OH 0.0625 12/f31/2099	0.94%	42.8%	17,998,000	$17.89M
34	—	Societe Generale Sa	0.94%	43.7%	17,200,000	$17.81M
35	—	American Electric V/R 12/15/54	0.94%	44.6%	17,060,000	$17.82M
36	—	Royal Bank of Canada Jr Subordina 08/85 Var	0.93%	45.6%	17,550,000	$17.65M
37	—	Goldman Sachs Group Inc (The) 7.5%/Var Perp	0.92%	46.5%	16,890,000	$17.44M
38	—	Eversource Energy 6.35% Aug 15, 2056 6.35 2056-08-15	0.91%	47.4%	17,610,000	$17.40M
39	—	Banco Santander Sa 0.08% Dec 31/99	0.89%	48.3%	16,200,000	$17.00M
40	—	Credit Agricole Sa 6.7% 09-23-2034	0.87%	49.2%	16,996,000	$16.52M
41	Debt	Dominion Energy Inc	0.86%	50.0%	15,859,000	$16.42M
42	—	Bank Of Nova Scotia/The 8 01-27-2084	0.80%	50.8%	14,600,000	$15.28M
43	—	Banco Bilbao Vizcaya Argentaria Sa 9.375	0.78%	51.6%	13,800,000	$14.86M
44	—	Bank Of Nova Scotia Jr Subordina 10/82 Var	0.78%	52.4%	14,400,000	$14.88M
45	—	Barclays Plc 7.625% Flt Perp	0.78%	53.2%	14,600,000	$14.91M
46	—	Global Atlantic Fin Co Company Guar 144A 03/56 Var	0.78%	53.9%	15,450,000	$14.81M
47	—	Nordea Ba Vrn 12/31/2199	0.78%	54.7%	14,980,000	$14.84M
48	—	Bank Nova Scoti 7.35 4/85	0.76%	55.5%	14,130,000	$14.38M
49	Debt	Verizon Communications Inc	0.75%	56.2%	14,300,000	$14.18M
50	CNP	Centerpoint Energy Inc Jr Subordina 02/55 Var %	0.74%	57.0%	13,575,000	$13.99M
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Not reported for this fund: share changes.

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FPEI ETF All Holdings

FPEI holdings total 351 positions. The top 10 holdings account for 17.9% of the fund, led by Bank Of America Corp. 5Y Us Ti + 2.684 12/31/9999 at 3.2%, Citigroup Inc 05/15/2174 at 2.1%, Credit Agricole Sa 7.13% Sep 23/35 at 2.0%.

FPEI portfolio concentration is well-diversified, with the top 10 representing 17.9% of total assets. The largest sector exposure is Financials at 51.5%.

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

Compare FPEI

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

FPEI ETF Holdings

177 of 351 holdings

Sector

Industry

Sort By

1
Bank Of America Corp. 5Y Us Ti + 2.684 12/31/9999
BAC V6.625 PERPFinancials
3.18%
2
Citigroup Inc 05/15/2174
Other
2.13%
3
Credit Agricole Sa 7.13% Sep 23/35
Other
2.02%
4
Ing Groep Nv 7.000% Flt Perp Sr:.
Other
1.74%
5
Banco Bilbao Vizcaya Argentaria Sa 7.75 12/31/2079
BBVAP2:MAFinancials
1.64%
6
Enbridge Inc 8.5% 01/15/2084
ENBCN V8.5 01/15/84Energy
1.53%
7
Charles Schwab Corp Jr Subordina 12/99 Var 5
SCHW V4 PERP HFinancials
1.46%
8
Banco Santander Saperpetual Bonds
SANTAN V9.625 PERP _Financials
1.46%
9
Bank Of Montreal 7.7%
BMO V7.7 05/26/84Financials
1.41%
10
Bnp Paribas Sa 8.5 2028/08/14
BNP V8.5 PERP 144AFinancials
1.29%
11
Commerzbank Ag Variable Rate
Other
1.27%
12
Canadian Imperial Bank 7.000% Flt 10/28/85
CM V7 10/28/85Financials
1.24%
13
Bnp Paribas Sa 7.2%
Other
1.23%
14
Hsbc Holdings Plc 5Y Us Ti + 3.191
HSBC V6.95 PERPFinancials
1.22%
15
Hartford Financial Services Group Inc/The 7.70899 2067-02-12
HIG F 02/12/47 ICONFinancials
1.21%
16
Jpmorgan Chase + Co Jr Subordina 12/99 Var12/31/2099
JPM V6.875 PERP NNFinancials
1.20%
17
Verizon Communications Inc 6.75 02/15/2057
Other
1.20%
18
Wells Fargo + Company Jr Subordina 12/99 Var
WFC V6.85 PERPFinancials
1.15%
19
Bell Telephone Company (Nc10.5) 7 09/15/2055
BCECN V7 09/15/55Communication Services
1.12%
20
Barclays Plc 8 12/71
A3K745Financials
1.10%
21
Natwest Group Plcperpetual Bonds
NWG V8.125 PERPFinancials
1.09%
22
Wells Fargo Co 6.125 6/74
Other
1.07%
23
Lloyds Banking Group Plc 8.0000% Mat 06/27/2172
LLOYDS V8 PERPFinancials
1.04%
24
Wells Fargo & Co., 7.50% Non-Cumul Perp Conv Cl A Preferred Stock, Series L
WFC.PR.LFinancials
1.03%
25
American Electric Power Co Inc 0.0605 03/f15/2056
Other
1.03%
26
Bank Of N Vrn 10/27/85
Other
1.01%
27
Aes Corporation (The) 6.95% Jul 15, 2055
AES V6.95 07/15/55Utilities
1.00%
28
Athene Holding Lt V/R 06/28/55
ATH V6.875 06/28/55Financials
0.97%
29
Amer Agcredit Aca Jr Subordina 144A Var 5.25% 2099-12-31
AAGACA V5.25 PERP QIFinancials
0.95%
30
Sempra Variable Rate, Due 10/01/2054
SRE V6.4 10/01/54Utilities
0.95%
31
Societe Generale Regd V/R /Perp/ 144A P/P 10.00000000
SOCGENFinancials
0.94%
32
Eushi Finance Inc Company Guar 04/56 Var
Other
0.94%
33
Huntington Bancshares Inc/OH 0.0625 12/f31/2099
Other
0.94%
34
Societe Generale Sa
SOCGENFinancials
0.94%
35
American Electric V/R 12/15/54
AEP V6.95 12/15/54Utilities
0.94%
36
ROYAL BANK OF CANADA JR SUBORDINA 08/85 VAR
RY V6.75 08/24/85Financials
0.93%
37
Goldman Sachs Group Inc (The) 7.5%/Var Perp
GS V7.5 PERP XFinancials
0.92%
38
Eversource Energy 6.35% Aug 15, 2056 6.35 2056-08-15
Other
0.91%
39
Banco Santander Sa 0.08% Dec 31/99
SANTAN V8 PERPFinancials
0.89%
40
Credit Agricole Sa 6.7% 09-23-2034
ACAFP V6.7 PERP 144AFinancials
0.87%
41
Dominion Energy Inc 7 06/01/2054
D V7 06/01/54 BUtilities
0.86%
42
Bank Of Nova Scotia/The 8 01-27-2084
BNS V8 01/27/84Financials
0.80%
43
Banco Bilbao Vizcaya Argentaria Sa 9.375
BBVASMFinancials
0.78%
44
Bank Of Nova Scotia Jr Subordina 10/82 Var
BNS V8.625 10/27/82Financials
0.78%
45
Barclays Plc 7.625% Flt Perp
BACR V7.625 PERPFinancials
0.78%
46
Global Atlantic Fin Co Company Guar 144A 03/56 Var
Other
0.78%
47
Nordea Ba Vrn 12/31/2199
Other
0.78%
48
Bank Nova Scoti 7.35 4/85
BNS V7.35 04/27/85Financials
0.76%
49
Verizon Communications Inc 6.6 02/15/2059
Other
0.75%
50
Centerpoint Energy Inc Jr Subordina 02/55 Var %
CNP V6.85 02/15/55 BUtilities
0.74%
51
Global Atlantic (Fin) Company 7.95% Oct 15/54
GBLATL V7.95 10/15/5Financials
0.72%
52
Rogers Communications In Regd V/R 7.12500000 7.125 04/15/2055
RCICN V7.125 04/15/5Communication Services
0.71%
53
Deutsche Bank Ag Variable Rate
Other
0.71%
54
Enbridge Inc 7.63 01/15/2083
ENBCN V7.625 01/15/8Energy
0.67%
55
State Street Corp Jr Subordina 12/99 Var
STT V6.7 PERP JFinancials
0.67%
56
Telus Corp V/R 06/09/56 2056-06-09
Other
0.67%
57
Bank Of Montreal Jr Subordina 11/84 Var %
BMO V7.3 11/26/84Financials
0.67%
58
Bnp Paribas 8.000000% Maturity: Perpetual 8 2172-08-22
BNP V8 PERP 144AFinancials
0.66%
59
Toronto-D Vrn 10/31/85
Other
0.66%
60
Hsbc Holdings Plc Jr Subordina 12/99 Var 7.25 12/31/2099
HSBC V7.05 PERPFinancials
0.65%
61
Natwest Group Plc 5.125 05/12/2027
Other
0.64%
62
Spire Inc. 0% 05/31/2056
Other
0.64%
63
Wells Fargo + Company Jr Subordina 12/99 Var
WFC V7.625 PERPFinancials
0.64%
64
Cnp Assurances V/R /Perp/ 4.875 12/31/2500
Other
0.64%
65
Corebridge Financial Inc Variable Rate, Due 09/15/2054
CRBG V6.375 09/15/54Financials
0.64%
66
Hsbc Holdings Plc 8 Perp
HSBC V8 PERPFinancials
0.63%
67
Telus Corp V/R 10/15/55
TCN V7 10/15/55Communication Services
0.63%
68
Dominion Energy, Inc. 6.625 05/14/2055
D V6.625 05/15/55Utilities
0.61%
69
Entergy Corp Variable Rate, Due 12/15/2056
Other
0.61%
70
Bbvasm V8.45 06/29/38 144A
BBVASM V8.45 06/29/3Financials
0.60%
71
Duke Energy Corp Jr Subordina 09/54 Var
DUK V6.45 09/01/54Utilities
0.58%
72
Nextera Energy Ca V/R 06/15/54
NEE V6.75 06/15/54Utilities
0.58%
73
The Pnc Financial Services Group, Inc. 6.00% Dec 31/99 6% 12/31/2099
PNC V6 PERP UFinancials
0.58%
74
Dominion Energy, Inc. 6.2 02/14/2056
D V6.2 02/15/56Utilities
0.57%
75
Mitsubishi Ufj Fin Grp Variable Rate
Other
0.57%
76
Land O' Lakes Inc 144a 7.250000% Maturity: Perpetual
LLAKES 7.25 PERP 144Consumer Staples
0.54%
77
State Street Corp Jr Subordina 12/99 Var 6.7
STT V6.7 PERP IFinancials
0.53%
78
Air Lease Vrn 12/31/99
AL V6 PERP DIndustrials
0.53%
79
Bnp Paribas Sa
BNP V7.75 PERP 144AFinancials
0.52%
80
Dte Energy Co V/R 07/01/58
Other
0.52%
81
Meiji Yasuda Life Insura 6.100% Flt 06/11/55 Sr:144A
MYLIFE V6.1 06/11/55Financials
0.52%
82
Nextera Energy Capital 30Nc10 6.2 10/01/2056
Other
0.51%
83
Royal Bank Of Canada Jr Subordina 11/85 Var 6.5 11/24/2085
Other
0.51%
84
American National Group 7.000% Flt 12/01/55
ANGINC V7 12/01/55Financials
0.50%
85
Ing Groep Nv Variable Rate
Other
0.49%
86
Land O'Lakes Inc 8% /perp
LLAKES 8 PERP 144AConsumer Staples
0.48%
87
Banco Mercantil De Norte Jr Subordina 144A Var 12/99 8.37
BANORT:KYFinancials
0.46%
88
Citigroup Inc 6.875 11/73 6.88 2173-11-15
CFinancials
0.46%
89
Ares Fice Co. Iii Llc 4.125% 6/30/2051
ARES V4.125 06/30/51Financials
0.45%
90
Land O'lakes Inc 7%
LLAKES 7 PERP 144AConsumer Staples
0.45%
91
Nomura Holdings Inc 7 Dec 31, 2079
NOMURA V7 PERPFinancials
0.45%
92
Pnc Financial Services Group, Inc. 6.2506/15/2023
PNC V6.25 PERP WFinancials
0.45%
93
Southern Co 6.38 2055-03-15
SO V6.375 03/15/55 2Utilities
0.45%
94
Eushi Finance Inc Company Guar 12/54 Var
EMACN V7.625 12/15/5Financials
0.43%
95
Swedbank Ab Variable Rate
Other
0.43%
96
Nisource Inc Variable Rate, Due 03/31/2055
NI V6.375 03/31/55Utilities
0.42%
97
Goldman Sachs Group Inc Jr Subordina 12/99 Var
GS V6.125 PERP YFinancials
0.41%
98
Mizuho Financial Group Variable Rate
Other
0.40%
99
Banco Santander Sa
SANP3Financials
0.40%
100
Banco Mercantil Del Norte, S.a.
BANORT V7.5 PERP 144Financials
0.40%
101
Compeer Financial Aca Jr Subordina 144A 12/99 Var
Other
0.40%
102
The Charles Schwab Corporation 6.1%
Other
0.39%
103
Emera Us Finance Llc 6.65 10/01/2056
Other
0.38%
104
Barclays Plc 9.625%
BACR V9.625 PERPFinancials
0.38%
105
Banco Mercantil Del Norte Sa (Nc10 144A 8.45 12/31/2079
Other
0.37%
106
First Citizens Bancshares Inc (Delaware)
Other
0.37%
107
Liberty Mutual Gr V/R 12/15/51
LIBMUT V4.125 12/15/Financials
0.37%
108
Metlife Capital Trust Iv
MET 7.875 12/15/37Financials
0.37%
109
Emera Us Finance V/R 10/01/56
Other
0.36%
110
Entergy Corp Variable Rate, Due 06/15/2056
Other
0.36%
111
Allianz Se 6.550% Flt Perp Sr:144A
Other
0.36%
112
Citigroup Inc 6.95%
C V6.95 PERP FFFinancials
0.35%
113
Credit Suisse Group Ag 9,75%
CS 9.75 PERP 144AFinancials
0.35%
114
Lancashire Holdings Limited 2041-09-18
Other
0.35%
115
Bnp Paribas 7.125 2175-02-17
Other
0.34%
116
Jpmorgan Chase + Co Jr Subordina 12/99 Var
Other
0.33%
117
Sumitomo Mitsui Finl Grp Regd V/R /Perp/ 6.60000000
SUMIBK V6.6 PERPFinancials
0.32%
118
Goldman Sachs Group Inc 6.5 Perpetl 2/10/2175
Other
0.31%
119
Altagas Ltd V/R 10/15/54
ALACN V7.2 10/15/54 Utilities
0.31%
120
American Express Company 6.45 20791231
Other
0.30%
121
Canadian Imperial Bank Jr Subordina 01/85 Var
CM V6.95 01/28/85Financials
0.30%
122
Banco Santander Sa Jr Subordina 12/99 Var
Other
0.29%
123
Corebridge Financial, Inc. 6.88% Dec 01/30
Other
0.29%
124
Intned V7.25 Perp 7.25% 12-31-2099
Other
0.29%
125
Citigroup Inc. 7%
C V7 PERP DDFinancials
0.27%
126
Rogers Communications Inc Variable Rate Due 01/31/2057
Other
0.25%
127
Hsbc Holdings Plc 6.750% Flt Perp
Other
0.24%
128
Hsbc Holdings Plc 7.000% Flt Perp Sr:.
Other
0.24%
129
Banco Bilbao Vizcaya Arg Jr Sub Coco Rvc 7.13 01/00/1900
Other
0.24%
130
Assurant Inc 7% 03/27/2048
AIZ V7 03/27/48Financials
0.23%
131
Banort 8 3/4 Perp 11/20/2174
BANORT V8.75 PERP 14Financials
0.23%
132
Nextera Energy Capital 6.500% Flt 08/15/55 Sr:.
NEE V6.5 08/15/55 .Utilities
0.23%
133
Goldman Sachs Group, Inc. (The), Series W
GS V7.5 PERP WFinancials
0.22%
134
Goldman Sachs Group Inc/The 6.85% Dec 31, 2079
GS V6.85 PERPFinancials
0.22%
135
Nippon Life Insurance Subordinated 144A 04/55 Var 6.5 20550430
NIPLIF V6.5 04/30/55Financials
0.22%
136
Prudential Financial Inc 6% 01Sep2052
PRU V6 09/01/52Financials
0.22%
137
Capital Farm Credit Aca Regd V/R /Perp/ 144A P/P Ser 1 5.00000000
CFCFCS V5 PERP 1Financials
0.22%
138
Liberty Mutual Group Inc. 4.30 02/01/2061
LIBMUT 4.3 02/01/61 Financials
0.21%
139
Verizon Communications Jr Subordina 05/56 Var 6.2% 05/14/2056
Other
0.20%
140
Banco Mercantil Del Norte Sa Grand Cayman Brh 7.625%/Var Perp 144A
BANORTFinancials
0.19%
141
Cobank Acb 6.750% Variable
Other
0.19%
142
Bbva Mexico Sa Institucion De Banc 7.625 02/11/2035
BBVASM V7.625 02/11/Financials
0.18%
143
Metlife Inc Jr Subordina 144a 04/38 9.25
MET 9.25 04/08/38Financials
0.18%
144
Entergy Corp 7.13% 01Dec2054
ETR V7.125 12/01/54Utilities
0.17%
145
Reinsurance Group Of America Inc 6.38% Sep 15, 2056 6.38 2056-09-15
Other
0.17%
146
Banco De Credito E Inversiones S.A.
BCICI V8.75 PERP 144Financials
0.17%
147
Bank Of Montreal Jr Subordina 11/85 Var
BMO V6.875 11/26/85 Financials
0.16%
148
Cobank Acb Regd V/R /Perp/ 7.25000000 07/01/2172
CKNQPFinancials
0.16%
149
Metlife, Inc. 6.35 03/14/2055
MET V6.35 03/15/55 GFinancials
0.16%
150
Allianz Se 6.5% 6.5
Other
0.15%
151
Ameren Corp Ameren Corp 2057-03-15
Other
0.15%
152
Credit Suisse Group Ag 6.375 08/21/2026
CS 6.375 PERP 144AFinancials
0.15%
153
Eversource Energy 6.10% 08/15/2031 6.1
Other
0.14%
154
Nextera Energy Capital Holdings In 6.63 10/01/2066
Other
0.14%
155
Kuvare Us Holdings Inc
KUVARE V7 02/17/51 1Financials
0.13%
156
Lloyds Banking Group Plc 6.625% Flt Perp
Other
0.13%
157
Bnp Paribas Sa 7.375 2034-09-10
BNP V7.375 PERP 144AFinancials
0.12%
158
Citigroup Inc 7.2 2072-08-15
C V7.2 PERP BBFinancials
0.12%
159
Credit Suisse Group Ag 5.25% 12/31/2099
CS 5.25 PERP 144AFinancials
0.12%
160
Farm Credit Bk Of Texas Jr Subordina 12/99 Var
FARMCB V7 PERP 6Financials
0.11%
161
Assured Guaranty Municipal Holdings Inc
AGO V6.4 12/15/66 14Financials
0.11%
162
Land O Lakes Ca 7.45% 03/15/28
LLAKES 7.45 03/15/28Consumer Staples
0.11%
163
Banco Mercantil De Norte Jr Subordina 144A 12/99 Var
BANORT V6.625 PERP 1Financials
0.10%
164
Credit Suisse Group Ag Regd V/r /perp/ 144a P/p 7.50000000
CS 7.5 PERP 144aFinancials
0.08%
165
Farm Credit Bk Of Texas Jr Subordina 12/99 Var
FARMCB V7.75 PERPFinancials
0.08%
166
Assured Guaranty Municipal Holdings Inc 6.4 12/15/2036
Other
0.08%
167
Banc Credito Invers V/R /Perp 8.75%
BCICI V8.75 PERP REGFinancials
0.05%
168
Bbva Bancomer Sa V/R 09/13/34
BBVASM V5.875 09/13/Financials
0.04%
169
Credit Suisse Group V/R /Perp
CS 6.25 PERP 144AFinancials
0.04%
170
Farm Credit Bank of Texas
FCTX.ZFinancials
0.04%
171
Morgan Stanley 5.88% 12/31/2049
MS V5.875 PERP MFinancials
0.04%
172
Jpmorgan Chase Bank, 6.125% Perp., USD
VOYA V7.758 PERP AFinancials
0.04%
173
Compeer Financial Aca
AGSTAR V4.875 PERP QFinancials
0.03%
174
Land O'Lakes Inc /Pfd
Other
0.02%
175
Dominion Energy Inc 6.88 02/01/2055
D V6.875 02/01/55 AUtilities
0.01%
176
Euro
Other
0.00%
177
US Dollar
Other
-0.46%

#	Company	Ticker	Weight
1	Bank Of America Corp. 5Y Us Ti + 2.684 12/31/9999	BAC V6.625 PERP	3.180%
2	Citigroup Inc 05/15/2174	-	2.130%
3	Credit Agricole Sa 7.13% Sep 23/35	-	2.020%
4	Ing Groep Nv 7.000% Flt Perp Sr:.	-	1.740%
5	Banco Bilbao Vizcaya Argentaria Sa 7.75 12/31/2079	BBVAP2:MA	1.640%
6	Enbridge Inc 8.5% 01/15/2084	ENBCN V8.5 01/15/84	1.530%
7	Charles Schwab Corp Jr Subordina 12/99 Var 5	SCHW V4 PERP H	1.460%
8	Banco Santander Saperpetual Bonds	SANTAN V9.625 PERP _	1.460%
9	Bank Of Montreal 7.7%	BMO V7.7 05/26/84	1.410%
10	Bnp Paribas Sa 8.5 2028/08/14	BNP V8.5 PERP 144A	1.290%
11	Commerzbank Ag Variable Rate	-	1.270%
12	Canadian Imperial Bank 7.000% Flt 10/28/85	CM V7 10/28/85	1.240%
13	Bnp Paribas Sa 7.2%	-	1.230%
14	Hsbc Holdings Plc 5Y Us Ti + 3.191	HSBC V6.95 PERP	1.220%
15	Hartford Financial Services Group Inc/The 7.70899 2067-02-12	HIG F 02/12/47 ICON	1.210%
16	Jpmorgan Chase + Co Jr Subordina 12/99 Var12/31/2099	JPM V6.875 PERP NN	1.200%
17	Verizon Communications Inc 6.75 02/15/2057	-	1.200%
18	Wells Fargo + Company Jr Subordina 12/99 Var	WFC V6.85 PERP	1.150%
19	Bell Telephone Company (Nc10.5) 7 09/15/2055	BCECN V7 09/15/55	1.120%
20	Barclays Plc 8 12/71	A3K745	1.100%
21	Natwest Group Plcperpetual Bonds	NWG V8.125 PERP	1.090%
22	Wells Fargo Co 6.125 6/74	-	1.070%
23	Lloyds Banking Group Plc 8.0000% Mat 06/27/2172	LLOYDS V8 PERP	1.040%
24	Wells Fargo & Co., 7.50% Non-Cumul Perp Conv Cl A Preferred Stock, Series L	WFC.PR.L	1.030%
25	American Electric Power Co Inc 0.0605 03/f15/2056	-	1.030%
26	Bank Of N Vrn 10/27/85	-	1.010%
27	Aes Corporation (The) 6.95% Jul 15, 2055	AES V6.95 07/15/55	1.000%
28	Athene Holding Lt V/R 06/28/55	ATH V6.875 06/28/55	0.970%
29	Amer Agcredit Aca Jr Subordina 144A Var 5.25% 2099-12-31	AAGACA V5.25 PERP QI	0.950%
30	Sempra Variable Rate, Due 10/01/2054	SRE V6.4 10/01/54	0.950%
31	Societe Generale Regd V/R /Perp/ 144A P/P 10.00000000	SOCGEN	0.940%
32	Eushi Finance Inc Company Guar 04/56 Var	-	0.940%
33	Huntington Bancshares Inc/OH 0.0625 12/f31/2099	-	0.940%
34	Societe Generale Sa	SOCGEN	0.940%
35	American Electric V/R 12/15/54	AEP V6.95 12/15/54	0.940%
36	ROYAL BANK OF CANADA JR SUBORDINA 08/85 VAR	RY V6.75 08/24/85	0.930%
37	Goldman Sachs Group Inc (The) 7.5%/Var Perp	GS V7.5 PERP X	0.920%
38	Eversource Energy 6.35% Aug 15, 2056 6.35 2056-08-15	-	0.910%
39	Banco Santander Sa 0.08% Dec 31/99	SANTAN V8 PERP	0.890%
40	Credit Agricole Sa 6.7% 09-23-2034	ACAFP V6.7 PERP 144A	0.870%
41	Dominion Energy Inc 7 06/01/2054	D V7 06/01/54 B	0.860%
42	Bank Of Nova Scotia/The 8 01-27-2084	BNS V8 01/27/84	0.800%
43	Banco Bilbao Vizcaya Argentaria Sa 9.375	BBVASM	0.780%
44	Bank Of Nova Scotia Jr Subordina 10/82 Var	BNS V8.625 10/27/82	0.780%
45	Barclays Plc 7.625% Flt Perp	BACR V7.625 PERP	0.780%
46	Global Atlantic Fin Co Company Guar 144A 03/56 Var	-	0.780%
47	Nordea Ba Vrn 12/31/2199	-	0.780%
48	Bank Nova Scoti 7.35 4/85	BNS V7.35 04/27/85	0.760%
49	Verizon Communications Inc 6.6 02/15/2059	-	0.750%
50	Centerpoint Energy Inc Jr Subordina 02/55 Var %	CNP V6.85 02/15/55 B	0.740%
51	Global Atlantic (Fin) Company 7.95% Oct 15/54	GBLATL V7.95 10/15/5	0.720%
52	Rogers Communications In Regd V/R 7.12500000 7.125 04/15/2055	RCICN V7.125 04/15/5	0.710%
53	Deutsche Bank Ag Variable Rate	-	0.710%
54	Enbridge Inc 7.63 01/15/2083	ENBCN V7.625 01/15/8	0.670%
55	State Street Corp Jr Subordina 12/99 Var	STT V6.7 PERP J	0.670%
56	Telus Corp V/R 06/09/56 2056-06-09	-	0.670%
57	Bank Of Montreal Jr Subordina 11/84 Var %	BMO V7.3 11/26/84	0.670%
58	Bnp Paribas 8.000000% Maturity: Perpetual 8 2172-08-22	BNP V8 PERP 144A	0.660%
59	Toronto-D Vrn 10/31/85	-	0.660%
60	Hsbc Holdings Plc Jr Subordina 12/99 Var 7.25 12/31/2099	HSBC V7.05 PERP	0.650%
61	Natwest Group Plc 5.125 05/12/2027	-	0.640%
62	Spire Inc. 0% 05/31/2056	-	0.640%
63	Wells Fargo + Company Jr Subordina 12/99 Var	WFC V7.625 PERP	0.640%
64	Cnp Assurances V/R /Perp/ 4.875 12/31/2500	-	0.640%
65	Corebridge Financial Inc Variable Rate, Due 09/15/2054	CRBG V6.375 09/15/54	0.640%
66	Hsbc Holdings Plc 8 Perp	HSBC V8 PERP	0.630%
67	Telus Corp V/R 10/15/55	TCN V7 10/15/55	0.630%
68	Dominion Energy, Inc. 6.625 05/14/2055	D V6.625 05/15/55	0.610%
69	Entergy Corp Variable Rate, Due 12/15/2056	-	0.610%
70	Bbvasm V8.45 06/29/38 144A	BBVASM V8.45 06/29/3	0.600%
71	Duke Energy Corp Jr Subordina 09/54 Var	DUK V6.45 09/01/54	0.580%
72	Nextera Energy Ca V/R 06/15/54	NEE V6.75 06/15/54	0.580%
73	The Pnc Financial Services Group, Inc. 6.00% Dec 31/99 6% 12/31/2099	PNC V6 PERP U	0.580%
74	Dominion Energy, Inc. 6.2 02/14/2056	D V6.2 02/15/56	0.570%
75	Mitsubishi Ufj Fin Grp Variable Rate	-	0.570%
76	Land O' Lakes Inc 144a 7.250000% Maturity: Perpetual	LLAKES 7.25 PERP 144	0.540%
77	State Street Corp Jr Subordina 12/99 Var 6.7	STT V6.7 PERP I	0.530%
78	Air Lease Vrn 12/31/99	AL V6 PERP D	0.530%
79	Bnp Paribas Sa	BNP V7.75 PERP 144A	0.520%
80	Dte Energy Co V/R 07/01/58	-	0.520%
81	Meiji Yasuda Life Insura 6.100% Flt 06/11/55 Sr:144A	MYLIFE V6.1 06/11/55	0.520%
82	Nextera Energy Capital 30Nc10 6.2 10/01/2056	-	0.510%
83	Royal Bank Of Canada Jr Subordina 11/85 Var 6.5 11/24/2085	-	0.510%
84	American National Group 7.000% Flt 12/01/55	ANGINC V7 12/01/55	0.500%
85	Ing Groep Nv Variable Rate	-	0.490%
86	Land O'Lakes Inc 8% /perp	LLAKES 8 PERP 144A	0.480%
87	Banco Mercantil De Norte Jr Subordina 144A Var 12/99 8.37	BANORT:KY	0.460%
88	Citigroup Inc 6.875 11/73 6.88 2173-11-15	C	0.460%
89	Ares Fice Co. Iii Llc 4.125% 6/30/2051	ARES V4.125 06/30/51	0.450%
90	Land O'lakes Inc 7%	LLAKES 7 PERP 144A	0.450%
91	Nomura Holdings Inc 7 Dec 31, 2079	NOMURA V7 PERP	0.450%
92	Pnc Financial Services Group, Inc. 6.2506/15/2023	PNC V6.25 PERP W	0.450%
93	Southern Co 6.38 2055-03-15	SO V6.375 03/15/55 2	0.450%
94	Eushi Finance Inc Company Guar 12/54 Var	EMACN V7.625 12/15/5	0.430%
95	Swedbank Ab Variable Rate	-	0.430%
96	Nisource Inc Variable Rate, Due 03/31/2055	NI V6.375 03/31/55	0.420%
97	Goldman Sachs Group Inc Jr Subordina 12/99 Var	GS V6.125 PERP Y	0.410%
98	Mizuho Financial Group Variable Rate	-	0.400%
99	Banco Santander Sa	SANP3	0.400%
100	Banco Mercantil Del Norte, S.a.	BANORT V7.5 PERP 144	0.400%
101	Compeer Financial Aca Jr Subordina 144A 12/99 Var	-	0.400%
102	The Charles Schwab Corporation 6.1%	-	0.390%
103	Emera Us Finance Llc 6.65 10/01/2056	-	0.380%
104	Barclays Plc 9.625%	BACR V9.625 PERP	0.380%
105	Banco Mercantil Del Norte Sa (Nc10 144A 8.45 12/31/2079	-	0.370%
106	First Citizens Bancshares Inc (Delaware)	-	0.370%
107	Liberty Mutual Gr V/R 12/15/51	LIBMUT V4.125 12/15/	0.370%
108	Metlife Capital Trust Iv	MET 7.875 12/15/37	0.370%
109	Emera Us Finance V/R 10/01/56	-	0.360%
110	Entergy Corp Variable Rate, Due 06/15/2056	-	0.360%
111	Allianz Se 6.550% Flt Perp Sr:144A	-	0.360%
112	Citigroup Inc 6.95%	C V6.95 PERP FF	0.350%
113	Credit Suisse Group Ag 9,75%	CS 9.75 PERP 144A	0.350%
114	Lancashire Holdings Limited 2041-09-18	-	0.350%
115	Bnp Paribas 7.125 2175-02-17	-	0.340%
116	Jpmorgan Chase + Co Jr Subordina 12/99 Var	-	0.330%
117	Sumitomo Mitsui Finl Grp Regd V/R /Perp/ 6.60000000	SUMIBK V6.6 PERP	0.320%
118	Goldman Sachs Group Inc 6.5 Perpetl 2/10/2175	-	0.310%
119	Altagas Ltd V/R 10/15/54	ALACN V7.2 10/15/54	0.310%
120	American Express Company 6.45 20791231	-	0.300%
121	Canadian Imperial Bank Jr Subordina 01/85 Var	CM V6.95 01/28/85	0.300%
122	Banco Santander Sa Jr Subordina 12/99 Var	-	0.290%
123	Corebridge Financial, Inc. 6.88% Dec 01/30	-	0.290%
124	Intned V7.25 Perp 7.25% 12-31-2099	-	0.290%
125	Citigroup Inc. 7%	C V7 PERP DD	0.270%
126	Rogers Communications Inc Variable Rate Due 01/31/2057	-	0.250%
127	Hsbc Holdings Plc 6.750% Flt Perp	-	0.240%
128	Hsbc Holdings Plc 7.000% Flt Perp Sr:.	-	0.240%
129	Banco Bilbao Vizcaya Arg Jr Sub Coco Rvc 7.13 01/00/1900	-	0.240%
130	Assurant Inc 7% 03/27/2048	AIZ V7 03/27/48	0.230%
131	Banort 8 3/4 Perp 11/20/2174	BANORT V8.75 PERP 14	0.230%
132	Nextera Energy Capital 6.500% Flt 08/15/55 Sr:.	NEE V6.5 08/15/55 .	0.230%
133	Goldman Sachs Group, Inc. (The), Series W	GS V7.5 PERP W	0.220%
134	Goldman Sachs Group Inc/The 6.85% Dec 31, 2079	GS V6.85 PERP	0.220%
135	Nippon Life Insurance Subordinated 144A 04/55 Var 6.5 20550430	NIPLIF V6.5 04/30/55	0.220%
136	Prudential Financial Inc 6% 01Sep2052	PRU V6 09/01/52	0.220%
137	Capital Farm Credit Aca Regd V/R /Perp/ 144A P/P Ser 1 5.00000000	CFCFCS V5 PERP 1	0.220%
138	Liberty Mutual Group Inc. 4.30 02/01/2061	LIBMUT 4.3 02/01/61	0.210%
139	Verizon Communications Jr Subordina 05/56 Var 6.2% 05/14/2056	-	0.200%
140	Banco Mercantil Del Norte Sa Grand Cayman Brh 7.625%/Var Perp 144A	BANORT	0.190%
141	Cobank Acb 6.750% Variable	-	0.190%
142	Bbva Mexico Sa Institucion De Banc 7.625 02/11/2035	BBVASM V7.625 02/11/	0.180%
143	Metlife Inc Jr Subordina 144a 04/38 9.25	MET 9.25 04/08/38	0.180%
144	Entergy Corp 7.13% 01Dec2054	ETR V7.125 12/01/54	0.170%
145	Reinsurance Group Of America Inc 6.38% Sep 15, 2056 6.38 2056-09-15	-	0.170%
146	Banco De Credito E Inversiones S.A.	BCICI V8.75 PERP 144	0.170%
147	Bank Of Montreal Jr Subordina 11/85 Var	BMO V6.875 11/26/85	0.160%
148	Cobank Acb Regd V/R /Perp/ 7.25000000 07/01/2172	CKNQP	0.160%
149	Metlife, Inc. 6.35 03/14/2055	MET V6.35 03/15/55 G	0.160%
150	Allianz Se 6.5% 6.5	-	0.150%
151	Ameren Corp Ameren Corp 2057-03-15	-	0.150%
152	Credit Suisse Group Ag 6.375 08/21/2026	CS 6.375 PERP 144A	0.150%
153	Eversource Energy 6.10% 08/15/2031 6.1	-	0.140%
154	Nextera Energy Capital Holdings In 6.63 10/01/2066	-	0.140%
155	Kuvare Us Holdings Inc	KUVARE V7 02/17/51 1	0.130%
156	Lloyds Banking Group Plc 6.625% Flt Perp	-	0.130%
157	Bnp Paribas Sa 7.375 2034-09-10	BNP V7.375 PERP 144A	0.120%
158	Citigroup Inc 7.2 2072-08-15	C V7.2 PERP BB	0.120%
159	Credit Suisse Group Ag 5.25% 12/31/2099	CS 5.25 PERP 144A	0.120%
160	Farm Credit Bk Of Texas Jr Subordina 12/99 Var	FARMCB V7 PERP 6	0.110%
161	Assured Guaranty Municipal Holdings Inc	AGO V6.4 12/15/66 14	0.110%
162	Land O Lakes Ca 7.45% 03/15/28	LLAKES 7.45 03/15/28	0.110%
163	Banco Mercantil De Norte Jr Subordina 144A 12/99 Var	BANORT V6.625 PERP 1	0.100%
164	Credit Suisse Group Ag Regd V/r /perp/ 144a P/p 7.50000000	CS 7.5 PERP 144a	0.080%
165	Farm Credit Bk Of Texas Jr Subordina 12/99 Var	FARMCB V7.75 PERP	0.080%
166	Assured Guaranty Municipal Holdings Inc 6.4 12/15/2036	-	0.080%
167	Banc Credito Invers V/R /Perp 8.75%	BCICI V8.75 PERP REG	0.050%
168	Bbva Bancomer Sa V/R 09/13/34	BBVASM V5.875 09/13/	0.040%
169	Credit Suisse Group V/R /Perp	CS 6.25 PERP 144A	0.040%
170	Farm Credit Bank of Texas	FCTX.Z	0.040%
171	Morgan Stanley 5.88% 12/31/2049	MS V5.875 PERP M	0.040%
172	Jpmorgan Chase Bank, 6.125% Perp., USD	VOYA V7.758 PERP A	0.040%
173	Compeer Financial Aca	AGSTAR V4.875 PERP Q	0.030%
174	Land O'Lakes Inc /Pfd	-	0.020%
175	Dominion Energy Inc 6.88 02/01/2055	D V6.875 02/01/55 A	0.010%
176	Euro	-	0.000%
177	US Dollar	-	-0.460%