PFFA ETF

$20.69

AUM$2.5B

TER2.11%

Holdings197

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PFFA ETF

$20.69

Virtus InfraCap US Preferred Stock ETF

AUM$2.5B

TER2.11%

Holdings197

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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

122.1%

Gross exposure

122.1%

Long

122.1%

Cash & collateral

-25.0%

As of Sep 4, 2026

Showing top 50 of 191 holdings · as of Sep 4, 2026

PFFA holdings, by weight
#	Ticker	Name	Weight	Cumulative	Shares	Mkt value	Sector	Industry
1	—	Strategy Inc 10.000%	3.08%	3.1%	1,025,269	$77.77M	-	-
2	—	Fnma Pool Ma2789 Fn 10/36 Fixed 2.5	2.88%	6.0%	1,517,246	$72.87M	-	-
3	KKRD	Kkr & Co Inc 6.250%	2.79%	8.8%	1,463,987	$70.61M	-	-
4	FLGA	Flagstar Bank Na 6.375%	2.51%	11.3%	2,700,761	$63.47M	-	-
5	—	Telephone + Data Sys In 6.0 Cum Pfd	2.37%	13.6%	3,090,924	$59.81M	-	-
6	CTGG	Qwest Corp 6.500%	2.34%	16.0%	3,604,180	$59.04M	-	-
7	ET	Energy Transfer Lp 9.250%	2.25%	18.2%	4,932,502	$56.87M	-	-
8	BAA	Boeing Co/The 6.000%	2.08%	20.3%	803,372	$52.69M	-	-
9	—	Babcock & Wilcox Enterprises Inc 7.750%	2.03%	22.3%	2,321,891	$51.34M	-	-
10	—	Two Harbors Investment Corp 9.105%	2.03%	24.4%	2,024,484	$51.20M	-	-
11	RLJ.A	Rlj Lodging Trust 7.800%	2.02%	26.4%	2,018,004	$51.04M	-	-
12	—	Global Net Lease Inc 7.500%	1.99%	28.4%	2,138,128	$50.28M	-	-
13	BANC	Banc Of California Inc 7.750%	1.99%	30.4%	2,006,239	$50.38M	-	-
14	CTHH	Qwest Corp 6.750%	1.98%	32.3%	2,948,320	$49.94M	-	-
15	—	Alphabet Inc 6.250%	1.97%	34.3%	1,022,704	$49.69M	-	-
16	FCNCA	First Citizens Bancshares Inc/Nc 6.625%	1.92%	36.2%	1,963,982	$48.45M	-	-
17	—	Merchants Bancorp/In 7.625%	1.92%	38.1%	1,944,027	$48.45M	-	-
18	—	Diversified Healthcare Trust 5.625%	1.90%	40.0%	2,605,698	$48.15M	-	-
19	ADAMN	Adamas Trust Inc 8.000%	1.85%	41.9%	1,873,999	$46.87M	-	-
20	—	Alphabet Inc 6.250%	1.81%	43.7%	946,681	$45.74M	-	-
21	—	Diversified Healthcare Trust 6.250%	1.76%	45.5%	2,325,540	$44.52M	-	-
22	—	Xcel Energy Inc 6.250%	1.73%	47.2%	1,962,263	$43.76M	-	-
23	TRTNF	Triton International Ltd 7.625%	1.62%	48.8%	1,665,451	$40.92M	-	-
24	TRTNC	Triton International Ltd 7.375%	1.55%	50.4%	1,569,087	$39.13M	-	-
25	MFAC	Mfa Financial Inc 9.339%	1.54%	51.9%	1,697,604	$38.98M	-	-
26	—	Two Harbors Investment Corp 7.625%	1.51%	53.4%	1,514,555	$38.20M	-	-
27	—	Albemarle Corp Prf Perpetual Usd 1000 - Ser A 1/20Th Pref St	1.43%	54.8%	666,924	$36.05M	-	-
28	CODIB	Compass Diversified Holdings 7.875%	1.31%	56.2%	1,487,799	$33.16M	-	-
29	DTK	Dte Energy Co 6.250%	1.31%	57.5%	1,461,519	$33.03M	-	-
30	PMTB	Pennymac Mortgage Investment Trust 9.919%	1.28%	58.7%	1,445,747	$32.31M	-	-
31	—	Chimera Investment Corp 8.738%	1.23%	60.0%	1,354,345	$31.10M	-	-
32	—	Chimera Investment Corp 9.374%	1.23%	61.2%	1,299,944	$31.11M	-	-
33	—	Valley National Bancorp 6.25 Pfd Stock Series AFinancials · Banks	1.21%	62.4%	1,209,203	$30.47M	Financials	Banks
34	ATLCZ	Atlanticus Holdings Corp 9.250%	1.21%	63.6%	1,201,993	$30.52M	-	-
35	SLMBP	Slm Corp 5.625%	1.15%	64.8%	392,395	$28.96M	-	-
36	ARES	Ares Management Corp 6.750%	1.14%	65.9%	636,036	$28.71M	-	-
37	ADAMM	Adamas Trust Inc 10.440%	1.09%	67.0%	1,075,345	$27.58M	-	-
38	CRBG	Corebridge Financial Inc 6.375%	1.09%	68.1%	1,320,474	$27.66M	-	-
39	MCHP	Microchip Technology Inc 7.500%	1.06%	69.2%	426,791	$26.84M	-	-
40	BFSE	Saul Centers Inc 6.000%	1.02%	70.2%	1,236,157	$25.85M	-	-
41	CODIA	Compass Diversified Holdings 7.250%	1.02%	71.2%	1,310,637	$25.83M	-	-
42	RWTS	Redwood Trust Inc 9.750%	1.02%	72.2%	1,118,672	$25.82M	-	-
43	—	Vornado Realty Trust 5.250%	0.99%	73.2%	1,434,422	$25.03M	-	-
44	PSEC	Prospect Capital Corp 5.350%	0.98%	74.2%	1,521,562	$24.78M	-	-
45	—	Chimera Investment Corp 9.786%	0.95%	75.1%	1,006,289	$24.10M	-	-
46	IVR	Invesco Mortgage Capital Inc 7.500%	0.95%	76.1%	977,655	$23.98M	-	-
47	—	Global Net Lease Inc 7.250%	0.91%	77.0%	996,810	$22.89M	-	-
48	HPP	Hudson Pacific Properties Inc 4.750%	0.90%	77.9%	1,588,998	$22.70M	-	-
49	TCPA	Transcanada Pipelines Ltd 6.250%	0.87%	78.8%	994,265	$22.06M	-	-
50	FHNH	First Horizon Corp 6.750%	0.86%	79.6%	887,381	$21.66M	-	-
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Not reported for this fund: share changes.

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PFFA ETF All Holdings

PFFA holdings total 197 positions. The top 10 holdings account for 24.4% of the fund, led by Strategy Inc 10.000% at 3.1%, Fnma Pool Ma2789 Fn 10/36 Fixed 2.5 at 2.9%, Kkr & Co Inc 6.250% at 2.8%.

PFFA portfolio concentration is well-diversified, with the top 10 representing 24.4% of total assets. The largest sector exposure is Financials at 3.3%.

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

Compare PFFA

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

PFFA ETF Holdings

191 of 197 holdings

Sector

Industry

Sort By

1
Strategy Inc 10.000%
STRDUnknown
3.08%
2
Fnma Pool Ma2789 Fn 10/36 Fixed 2.5
ORCLPRDUnknown
2.88%
3
Kkr & Co Inc 6.250%
KKRDUnknown
2.79%
4
Flagstar Bank Na 6.375%
FLGAUnknown
2.51%
5
Telephone + Data Sys In 6.0 Cum Pfd
Other
2.37%
6
Qwest Corp 6.500%
CTGGUnknown
2.34%
7
Energy Transfer Lp 9.250%
Other
2.25%
8
Boeing Co/The 6.000%
BAAUnknown
2.08%
9
Babcock & Wilcox Enterprises Inc 7.750%
BW.AUnknown
2.03%
10
Two Harbors Investment Corp 9.105%
TWOCUnknown
2.03%
11
Rlj Lodging Trust 7.800%
RLJ.AUnknown
2.02%
12
Global Net Lease Inc 7.500%
Other
1.99%
13
Banc Of California Inc 7.750%
BANCFUnknown
1.99%
14
Qwest Corp 6.750%
CTHHUnknown
1.98%
15
Alphabet Inc 6.250%
Other
1.97%
16
First Citizens Bancshares Inc/Nc 6.625%
FCNCNUnknown
1.92%
17
Merchants Bancorp/In 7.625%
MBINLUnknown
1.92%
18
Diversified Healthcare Trust 5.625%
Other
1.90%
19
Adamas Trust Inc 8.000%
ADAMNUnknown
1.85%
20
Alphabet Inc 6.250%
Other
1.81%
21
Diversified Healthcare Trust 6.250%
Other
1.76%
22
Xcel Energy Inc 6.250%
Other
1.73%
23
Triton International Ltd 7.625%
TRTNF:BMUnknown
1.62%
24
Triton International Ltd 7.375%
TRTNC:BMUnknown
1.55%
25
Mfa Financial Inc 9.339%
MFACUnknown
1.54%
26
Two Harbors Investment Corp 7.625%
TWOBUnknown
1.51%
27
Albemarle Corp Prf Perpetual Usd 1000 - Ser A 1/20Th Pref St
Other
1.43%
28
Compass Diversified Holdings 7.875%
CODIBUnknown
1.31%
29
Dte Energy Co 6.250%
DTKUnknown
1.31%
30
Pennymac Mortgage Investment Trust 9.919%
PMTBUnknown
1.28%
31
Chimera Investment Corp 8.738%
CIMCUnknown
1.23%
32
Chimera Investment Corp 9.374%
CIMDUnknown
1.23%
33
Valley National Bancorp 6.25 Pfd Stock Series A
VLYPPFinancials
1.21%
34
Atlanticus Holdings Corp 9.250%
ATLCZUnknown
1.21%
35
Slm Corp 5.625%
SLMBPUnknown
1.15%
36
Ares Management Corp 6.750%
ARESBUnknown
1.14%
37
Adamas Trust Inc 10.440%
ADAMMUnknown
1.09%
38
Corebridge Financial Inc 6.375%
CRBDUnknown
1.09%
39
Microchip Technology Inc 7.500%
MCHPPUnknown
1.06%
40
Saul Centers Inc 6.000%
BFSEUnknown
1.02%
41
Compass Diversified Holdings 7.250%
CODIAUnknown
1.02%
42
Redwood Trust Inc 9.750%
RWTSUnknown
1.02%
43
Vornado Realty Trust 5.250%
Other
0.99%
44
Prospect Capital Corp 5.350%
PSECAUnknown
0.98%
45
Chimera Investment Corp 9.786%
CIMBUnknown
0.95%
46
Invesco Mortgage Capital Inc 7.500%
IVRCUnknown
0.95%
47
Global Net Lease Inc 7.250%
GNLAUnknown
0.91%
48
Hudson Pacific Properties Inc 4.750%
Other
0.90%
49
Transcanada Pipelines Ltd 6.250%
TCPA:CAUnknown
0.87%
50
First Horizon Corp 6.750%
FHNHUnknown
0.86%
51
Spire Inc 6.375%
SRJNUnknown
0.84%
52
Cion Investment Corp 7.500%
CICBUnknown
0.83%
53
Federal Agricultural Mortgage Corp 6.500%
AGMHUnknown
0.82%
54
Innovative Industrial Properties Inc 9.000%
IIPRAUnknown
0.82%
55
Brighthouse Financial Inc. Depositary Shs Repr 1/1000Th 5.375% Non-Cum Red Perp Pfd Rg Shsseries C
BHFANUnknown
0.80%
56
Rithm Capital Corp 8.750%
RITMEUnknown
0.80%
57
Western Alliance Bancorp 4.250%
WALAUnknown
0.79%
58
Triton International Ltd 6.875%
TRTND:BMUnknown
0.76%
59
Nextera Energy Inc
NEEUtilities
0.75%
60
Vornado Realty Trust 5.250%
Other
0.75%
61
Digitalbridge Group Inc 7.150%
DBRG.IUnknown
0.75%
62
Redwood Trust Inc 9.000%
RWTOUnknown
0.74%
63
Triton International Ltd 5.750%
TRTNE:BMUnknown
0.73%
64
Bread Financial Holdings Inc 8.625%
BFHAUnknown
0.71%
65
Pebblebrook Hotel Trust 6.300%
PEBFUnknown
0.71%
66
Babcock & Wilcox Enterprises Inc 8.750% 06/30/2030
Other
0.70%
67
Epr Properties 5.750%
EPRCUnknown
0.70%
68
Chimera Investment Corp 8.875%
CIMPUnknown
0.69%
69
Mfa Financial Inc 7.500%
MFABUnknown
0.68%
70
Global Net Lease Inc 6.875%
GNLBUnknown
0.66%
71
Ready Capital Corp 9.000%
Other
0.64%
72
American National Group Inc 7.375%
ANGDUnknown
0.64%
73
SCE Trust VI 5.000%
Other
0.62%
74
Digitalbridge Group Inc 7.125%
DBRG.PRHUnknown
0.62%
75
Tpg Mortgage Investment Trust Inc 10.405%
MITTCUnknown
0.62%
76
Strategy Inc 3.907%
STRCUnknown
0.62%
77
Telephone And Data Systems Inc 6.625% Prf Perpetual Usd 25 - 1/1000 Int Ser
TDSPUUnknown
0.62%
78
Summit Hotel Properties Inc 6.250%
INNEUnknown
0.60%
79
Strategy Inc 8.000%
STRKUnknown
0.60%
80
Vornado Realty Trust 4.450%
VNOOUnknown
0.58%
81
Brighthouse Financial Inc Preferred Stock 6.6
BHFAPFinancials
0.57%
82
Redwood Trust Inc 9.500%
RWTQUnknown
0.57%
83
Brighthouse Financial Inc. Depositary Shs Repr 11000Th 4.625 % NonCum Red Perp Pfd Rg Shs Series
BHFAMUnknown
0.56%
84
Gaslog Partners Lp 8.625%
GLOPA:MHUnknown
0.56%
85
Newtekone Inc 8.625%
NEWTHUnknown
0.56%
86
Tpg Mortgage Investment Trust Inc 8.000%
MITTBUnknown
0.54%
87
Vornado Realty Trust 5.400%
VNOLUnknown
0.54%
88
Hewlett Packard Enterprise Co 7.625%
HPECUnknown
0.53%
89
Live Oak Bancshares Inc 8.375%
LOBAUnknown
0.50%
90
Medallion Bank/Salt Lake City Ut 9.000%
MBNKOUnknown
0.49%
91
Federal Agricultural Mortgage Corp 6.875%
AGMIUnknown
0.48%
92
Brighthouse Financial Inc. Depositary Shs Repr 11000Th 6.75% NonCum Red Perp Pfd Reg Sh Series B
BHFAOUnknown
0.47%
93
Navient Corp 6 Pfd
JSMFinancials
0.45%
94
Redwood Trust Inc 9.125%
RWTPUnknown
0.45%
95
F&G Annuities & Life Inc 7.300%
FGSNUnknown
0.44%
96
Global Net Lease Inc 7.375%
GNLEUnknown
0.44%
97
Newtekone Inc 8.500%
NEWTPUnknown
0.44%
98
M&T Bank Corp 6.625%
MTBLUnknown
0.43%
99
Rithm Capital Corp Preferred Series C
RITM.PCFinancials
0.42%
100
M&T Bank Corp 6.350%
MTBKUnknown
0.42%
101
Citigroup Inc Jr Subordina 12/49 Var
CPRRFinancials
0.41%
102
Bread Financial Holdings Inc 8.875%
BFHBUnknown
0.41%
103
Pennymac Mortgage Investment Trust 9.760%
PMTAUnknown
0.41%
104
National Healthcare Properties Inc 7.125%
NHPBPUnknown
0.40%
105
Braemar Hotels & Resorts Inc 5.500%
BHRBUnknown
0.39%
106
Flagstar Bank Na 6.000%
FLGUUnknown
0.39%
107
Merchants Bancorp/In 6.000%
MBINNUnknown
0.38%
108
Ramaco Resources Inc 8.250%
METCIUnknown
0.38%
109
Enterprise Financial Services Corp. Pfd.
EFSCPUnknown
0.37%
110
Oxford Square Capital Corp 7.750%
OXSQHUnknown
0.37%
111
Sl Green Realty Corp 6.500%
Other
0.35%
112
Synchrony Financial 5.625%
SYFAUnknown
0.35%
113
Cto Realty Growth Inc 6.375%
Other
0.34%
114
Chimera Investment Corp 8.000%
CIMAUnknown
0.34%
115
Triton International Ltd 7.500%
TRTG:BMUnknown
0.33%
116
Goldman Sachs Fin Gov 465 Institut
Other
0.31%
117
Rbc Us Govtt 1 1465
Other
0.31%
118
Acres Commercial Realty Corp 10.032%
Other
0.29%
119
Adamas Trust Inc 9.125%
ADAMGUnknown
0.29%
120
Franklin Bsp Realty Trust Inc 7.500%
FBRTEUnknown
0.28%
121
Pebblebrook Hotel Trust 6.375%
PEBEUnknown
0.28%
122
Rithm Property Trust Inc 9.875%
RPTCUnknown
0.28%
123
Sound Point Meridian Capital Inc 8.000%
SPMAUnknown
0.26%
124
Sce Trust Viii 6.950%
SCENUnknown
0.25%
125
Ford Motor Co Pref Series C
F.PCConsumer Discretionary
0.24%
126
Brighthouse Financial Inc 6.250%
BHFALUnknown
0.24%
127
Regency Centers Corp 5.875%
REGCOUnknown
0.23%
128
Kemper Corp 5.875%
KMPBUnknown
0.22%
129
Ramaco Resources Inc 8.375%
METCZUnknown
0.21%
130
Alpine Income Property Trust Inc 8.000%
PINEPAUnknown
0.21%
131
Trinity Capital Inc 7.875%
TRNIUnknown
0.21%
132
Nextera Energy Inc 7.375% Pfd Ser
Other
0.19%
133
Armour Residential Reit Inc 7.000%
ARRCUnknown
0.19%
134
Pennymac Mortgage Investment Trust 6.750%
Other
0.18%
135
Charter Communications Inc 7.000%
Other
0.18%
136
Summit Hotel Properties Inc 5.875%
INNFUnknown
0.18%
137
Chiron Real Estate Inc 8.000%
XRNBUnknown
0.18%
138
Braemar Hotels & Resorts Inc 8.250%
BHRDUnknown
0.17%
139
Shift4 Payments Inc 6.000%
FOURAUnknown
0.17%
140
Rivernorth Opportunities Fund Inc 6.000%
RIV.PR.AFinancials
0.14%
141
Array Digital Infrastructure Inc 5.500%
Other
0.14%
142
Whirlpool Corp. Depositary Shares Each Representing A 120Th Interest In A Share Of 8.50% Series A Mandatory Convertible Preferred Stock
Other
0.13%
143
Lxp Industrial Trust 6.500%
LXPCUnknown
0.13%
144
Valley National Bancorp 7.529%
VLYPOUnknown
0.11%
145
Pebblebrook Hotel Trust 5.700%
PEBHUnknown
0.10%
146
Array Digital Infrastructure Inc 5.500%
UZEUnknown
0.10%
147
Tpg Mortgage Investment Trust Inc 9.500%
MITPUnknown
0.09%
148
Brookfield Infrastructure Finance Ulc 7.250%
BIPJ:CAUnknown
0.08%
149
Brightspring Health Services Inc 6.750%
BTSGUUnknown
0.08%
150
Unum Group 6.250%
Other
0.07%
151
Atlanticus Holdings Corp 7.625%
ATLCPUnknown
0.07%
152
Chimera Investment Corp 9.000%
CIMNUnknown
0.07%
153
Array Digital Infrastructure Inc 6.250%
UZDUnknown
0.07%
154
Acres Commercial Realty Corp 7.875%
Other
0.06%
155
Ellington Financial Inc 6.250%
EFCBUnknown
0.06%
156
Pitney Bowes Inc 6.700%
PBIBUnknown
0.06%
157
Sce Trust Vii 7.500%
SCEMUnknown
0.06%
158
Redwood Trust Inc 10% 01/15/2175
RWTPRAFinancials
0.05%
159
Rithm Capital Corp 7.000%
Other
0.05%
160
Angel Oak Mortgage Reit Inc 9.500%
AOMNUnknown
0.05%
161
Super Micro Computer Inc 7.000%
SMCIPUnknown
0.05%
162
Tpg Re Finance Trust Inc Preferred Stock
Other
0.04%
163
Arbor Realty Trust Inc 6.375%
ABRDUnknown
0.04%
164
Arbor Realty Trust Inc 6.250%
ABREUnknown
0.04%
165
Office Properties Income Trust
OPIReal Estate
0.03%
166
Kkr Group Finance Co Ix Llc 4.625%
KKRSUnknown
0.03%
167
Pearl Diver Credit Company Inc 8.000%
PDPAUnknown
0.03%
168
Two Harbors Investment Corp 8.125%
TWOAUnknown
0.03%
169
Hewlett Packard Enterprise Co
HPEInformation Technology
0.02%
170
Eagle Point Institutional Income Fund 8.125%
Other
0.02%
171
Ready Capital Corp 6.500%
Other
0.02%
172
Brookfield Brp Holdings Canada Inc 7.250%
BEPJ:CAUnknown
0.02%
173
Cantor Fitzgerald Income Trust Inc 9.500%
CFTRAUnknown
0.02%
174
Brookfield Oaktree Holdings Llc 6.550%
OAKBUnknown
0.02%
175
Algonquin Power & Utilities Corp - Common
AQN:CAUtilities
0.01%
176
Abacus Global Management Inc 9.875%
ABXLUnknown
0.01%
177
Agnc Investment Corp 8.750%
AGNCZUnknown
0.01%
178
Midland States Bancorp Inc 7.750%
MSBIPUnknown
0.01%
179
Brookfield Oaktree Holdings Llc 6.625%
OAKAUnknown
0.01%
180
Oxford Lane Capital Corp 7.950%
OXLCGUnknown
0.01%
181
Vse Corp 5.750%
VSECUUnknown
0.01%
182
Athene (Ath) / Apollo Global Management (Apo)
APOFinancials
0.00%
183
Associated Banc-Corp 6.625%
Other
0.00%
184
Adamas Trust Inc 9.875%
ADAMHUnknown
0.00%
185
First Busey Corp 8.250%
BUSEPUnknown
0.00%
186
Epr Properties 9.000%
EPREUnknown
0.00%
187
Tpg Mortgage Investment Trust Inc 8.250%
MITTAUnknown
0.00%
188
Oxford Lane Capital Corp 6.000%
OXLCOUnknown
0.00%
189
Pg&E Corp 6.000%
PCGXUnknown
0.00%
190
Valley National Bancorp 8.250%
VLYPNUnknown
0.00%
191
Cash/Cash Equivalents
Other
-26.95%

#	Company	Ticker	Weight
1	Strategy Inc 10.000%	STRD	3.080%
2	Fnma Pool Ma2789 Fn 10/36 Fixed 2.5	ORCLPRD	2.880%
3	Kkr & Co Inc 6.250%	KKRD	2.790%
4	Flagstar Bank Na 6.375%	FLGA	2.510%
5	Telephone + Data Sys In 6.0 Cum Pfd	-	2.370%
6	Qwest Corp 6.500%	CTGG	2.340%
7	Energy Transfer Lp 9.250%	-	2.250%
8	Boeing Co/The 6.000%	BAA	2.080%
9	Babcock & Wilcox Enterprises Inc 7.750%	BW.A	2.030%
10	Two Harbors Investment Corp 9.105%	TWOC	2.030%
11	Rlj Lodging Trust 7.800%	RLJ.A	2.020%
12	Global Net Lease Inc 7.500%	-	1.990%
13	Banc Of California Inc 7.750%	BANCF	1.990%
14	Qwest Corp 6.750%	CTHH	1.980%
15	Alphabet Inc 6.250%	-	1.970%
16	First Citizens Bancshares Inc/Nc 6.625%	FCNCN	1.920%
17	Merchants Bancorp/In 7.625%	MBINL	1.920%
18	Diversified Healthcare Trust 5.625%	-	1.900%
19	Adamas Trust Inc 8.000%	ADAMN	1.850%
20	Alphabet Inc 6.250%	-	1.810%
21	Diversified Healthcare Trust 6.250%	-	1.760%
22	Xcel Energy Inc 6.250%	-	1.730%
23	Triton International Ltd 7.625%	TRTNF:BM	1.620%
24	Triton International Ltd 7.375%	TRTNC:BM	1.550%
25	Mfa Financial Inc 9.339%	MFAC	1.540%
26	Two Harbors Investment Corp 7.625%	TWOB	1.510%
27	Albemarle Corp Prf Perpetual Usd 1000 - Ser A 1/20Th Pref St	-	1.430%
28	Compass Diversified Holdings 7.875%	CODIB	1.310%
29	Dte Energy Co 6.250%	DTK	1.310%
30	Pennymac Mortgage Investment Trust 9.919%	PMTB	1.280%
31	Chimera Investment Corp 8.738%	CIMC	1.230%
32	Chimera Investment Corp 9.374%	CIMD	1.230%
33	Valley National Bancorp 6.25 Pfd Stock Series A	VLYPP	1.210%
34	Atlanticus Holdings Corp 9.250%	ATLCZ	1.210%
35	Slm Corp 5.625%	SLMBP	1.150%
36	Ares Management Corp 6.750%	ARESB	1.140%
37	Adamas Trust Inc 10.440%	ADAMM	1.090%
38	Corebridge Financial Inc 6.375%	CRBD	1.090%
39	Microchip Technology Inc 7.500%	MCHPP	1.060%
40	Saul Centers Inc 6.000%	BFSE	1.020%
41	Compass Diversified Holdings 7.250%	CODIA	1.020%
42	Redwood Trust Inc 9.750%	RWTS	1.020%
43	Vornado Realty Trust 5.250%	-	0.990%
44	Prospect Capital Corp 5.350%	PSECA	0.980%
45	Chimera Investment Corp 9.786%	CIMB	0.950%
46	Invesco Mortgage Capital Inc 7.500%	IVRC	0.950%
47	Global Net Lease Inc 7.250%	GNLA	0.910%
48	Hudson Pacific Properties Inc 4.750%	-	0.900%
49	Transcanada Pipelines Ltd 6.250%	TCPA:CA	0.870%
50	First Horizon Corp 6.750%	FHNH	0.860%
51	Spire Inc 6.375%	SRJN	0.840%
52	Cion Investment Corp 7.500%	CICB	0.830%
53	Federal Agricultural Mortgage Corp 6.500%	AGMH	0.820%
54	Innovative Industrial Properties Inc 9.000%	IIPRA	0.820%
55	Brighthouse Financial Inc. Depositary Shs Repr 1/1000Th 5.375% Non-Cum Red Perp Pfd Rg Shsseries C	BHFAN	0.800%
56	Rithm Capital Corp 8.750%	RITME	0.800%
57	Western Alliance Bancorp 4.250%	WALA	0.790%
58	Triton International Ltd 6.875%	TRTND:BM	0.760%
59	Nextera Energy Inc	NEE	0.750%
60	Vornado Realty Trust 5.250%	-	0.750%
61	Digitalbridge Group Inc 7.150%	DBRG.I	0.750%
62	Redwood Trust Inc 9.000%	RWTO	0.740%
63	Triton International Ltd 5.750%	TRTNE:BM	0.730%
64	Bread Financial Holdings Inc 8.625%	BFHA	0.710%
65	Pebblebrook Hotel Trust 6.300%	PEBF	0.710%
66	Babcock & Wilcox Enterprises Inc 8.750% 06/30/2030	-	0.700%
67	Epr Properties 5.750%	EPRC	0.700%
68	Chimera Investment Corp 8.875%	CIMP	0.690%
69	Mfa Financial Inc 7.500%	MFAB	0.680%
70	Global Net Lease Inc 6.875%	GNLB	0.660%
71	Ready Capital Corp 9.000%	-	0.640%
72	American National Group Inc 7.375%	ANGD	0.640%
73	SCE Trust VI 5.000%	-	0.620%
74	Digitalbridge Group Inc 7.125%	DBRG.PRH	0.620%
75	Tpg Mortgage Investment Trust Inc 10.405%	MITTC	0.620%
76	Strategy Inc 3.907%	STRC	0.620%
77	Telephone And Data Systems Inc 6.625% Prf Perpetual Usd 25 - 1/1000 Int Ser	TDSPU	0.620%
78	Summit Hotel Properties Inc 6.250%	INNE	0.600%
79	Strategy Inc 8.000%	STRK	0.600%
80	Vornado Realty Trust 4.450%	VNOO	0.580%
81	Brighthouse Financial Inc Preferred Stock 6.6	BHFAP	0.570%
82	Redwood Trust Inc 9.500%	RWTQ	0.570%
83	Brighthouse Financial Inc. Depositary Shs Repr 11000Th 4.625 % NonCum Red Perp Pfd Rg Shs Series	BHFAM	0.560%
84	Gaslog Partners Lp 8.625%	GLOPA:MH	0.560%
85	Newtekone Inc 8.625%	NEWTH	0.560%
86	Tpg Mortgage Investment Trust Inc 8.000%	MITTB	0.540%
87	Vornado Realty Trust 5.400%	VNOL	0.540%
88	Hewlett Packard Enterprise Co 7.625%	HPEC	0.530%
89	Live Oak Bancshares Inc 8.375%	LOBA	0.500%
90	Medallion Bank/Salt Lake City Ut 9.000%	MBNKO	0.490%
91	Federal Agricultural Mortgage Corp 6.875%	AGMI	0.480%
92	Brighthouse Financial Inc. Depositary Shs Repr 11000Th 6.75% NonCum Red Perp Pfd Reg Sh Series B	BHFAO	0.470%
93	Navient Corp 6 Pfd	JSM	0.450%
94	Redwood Trust Inc 9.125%	RWTP	0.450%
95	F&G Annuities & Life Inc 7.300%	FGSN	0.440%
96	Global Net Lease Inc 7.375%	GNLE	0.440%
97	Newtekone Inc 8.500%	NEWTP	0.440%
98	M&T Bank Corp 6.625%	MTBL	0.430%
99	Rithm Capital Corp Preferred Series C	RITM.PC	0.420%
100	M&T Bank Corp 6.350%	MTBK	0.420%
101	Citigroup Inc Jr Subordina 12/49 Var	CPRR	0.410%
102	Bread Financial Holdings Inc 8.875%	BFHB	0.410%
103	Pennymac Mortgage Investment Trust 9.760%	PMTA	0.410%
104	National Healthcare Properties Inc 7.125%	NHPBP	0.400%
105	Braemar Hotels & Resorts Inc 5.500%	BHRB	0.390%
106	Flagstar Bank Na 6.000%	FLGU	0.390%
107	Merchants Bancorp/In 6.000%	MBINN	0.380%
108	Ramaco Resources Inc 8.250%	METCI	0.380%
109	Enterprise Financial Services Corp. Pfd.	EFSCP	0.370%
110	Oxford Square Capital Corp 7.750%	OXSQH	0.370%
111	Sl Green Realty Corp 6.500%	-	0.350%
112	Synchrony Financial 5.625%	SYFA	0.350%
113	Cto Realty Growth Inc 6.375%	-	0.340%
114	Chimera Investment Corp 8.000%	CIMA	0.340%
115	Triton International Ltd 7.500%	TRTG:BM	0.330%
116	Goldman Sachs Fin Gov 465 Institut	-	0.310%
117	Rbc Us Govtt 1 1465	-	0.310%
118	Acres Commercial Realty Corp 10.032%	-	0.290%
119	Adamas Trust Inc 9.125%	ADAMG	0.290%
120	Franklin Bsp Realty Trust Inc 7.500%	FBRTE	0.280%
121	Pebblebrook Hotel Trust 6.375%	PEBE	0.280%
122	Rithm Property Trust Inc 9.875%	RPTC	0.280%
123	Sound Point Meridian Capital Inc 8.000%	SPMA	0.260%
124	Sce Trust Viii 6.950%	SCEN	0.250%
125	Ford Motor Co Pref Series C	F.PC	0.240%
126	Brighthouse Financial Inc 6.250%	BHFAL	0.240%
127	Regency Centers Corp 5.875%	REGCO	0.230%
128	Kemper Corp 5.875%	KMPB	0.220%
129	Ramaco Resources Inc 8.375%	METCZ	0.210%
130	Alpine Income Property Trust Inc 8.000%	PINEPA	0.210%
131	Trinity Capital Inc 7.875%	TRNI	0.210%
132	Nextera Energy Inc 7.375% Pfd Ser	-	0.190%
133	Armour Residential Reit Inc 7.000%	ARRC	0.190%
134	Pennymac Mortgage Investment Trust 6.750%	-	0.180%
135	Charter Communications Inc 7.000%	-	0.180%
136	Summit Hotel Properties Inc 5.875%	INNF	0.180%
137	Chiron Real Estate Inc 8.000%	XRNB	0.180%
138	Braemar Hotels & Resorts Inc 8.250%	BHRD	0.170%
139	Shift4 Payments Inc 6.000%	FOURA	0.170%
140	Rivernorth Opportunities Fund Inc 6.000%	RIV.PR.A	0.140%
141	Array Digital Infrastructure Inc 5.500%	-	0.140%
142	Whirlpool Corp. Depositary Shares Each Representing A 120Th Interest In A Share Of 8.50% Series A Mandatory Convertible Preferred Stock	-	0.130%
143	Lxp Industrial Trust 6.500%	LXPC	0.130%
144	Valley National Bancorp 7.529%	VLYPO	0.110%
145	Pebblebrook Hotel Trust 5.700%	PEBH	0.100%
146	Array Digital Infrastructure Inc 5.500%	UZE	0.100%
147	Tpg Mortgage Investment Trust Inc 9.500%	MITP	0.090%
148	Brookfield Infrastructure Finance Ulc 7.250%	BIPJ:CA	0.080%
149	Brightspring Health Services Inc 6.750%	BTSGU	0.080%
150	Unum Group 6.250%	-	0.070%
151	Atlanticus Holdings Corp 7.625%	ATLCP	0.070%
152	Chimera Investment Corp 9.000%	CIMN	0.070%
153	Array Digital Infrastructure Inc 6.250%	UZD	0.070%
154	Acres Commercial Realty Corp 7.875%	-	0.060%
155	Ellington Financial Inc 6.250%	EFCB	0.060%
156	Pitney Bowes Inc 6.700%	PBIB	0.060%
157	Sce Trust Vii 7.500%	SCEM	0.060%
158	Redwood Trust Inc 10% 01/15/2175	RWTPRA	0.050%
159	Rithm Capital Corp 7.000%	-	0.050%
160	Angel Oak Mortgage Reit Inc 9.500%	AOMN	0.050%
161	Super Micro Computer Inc 7.000%	SMCIP	0.050%
162	Tpg Re Finance Trust Inc Preferred Stock	-	0.040%
163	Arbor Realty Trust Inc 6.375%	ABRD	0.040%
164	Arbor Realty Trust Inc 6.250%	ABRE	0.040%
165	Office Properties Income Trust	OPI	0.030%
166	Kkr Group Finance Co Ix Llc 4.625%	KKRS	0.030%
167	Pearl Diver Credit Company Inc 8.000%	PDPA	0.030%
168	Two Harbors Investment Corp 8.125%	TWOA	0.030%
169	Hewlett Packard Enterprise Co	HPE	0.020%
170	Eagle Point Institutional Income Fund 8.125%	-	0.020%
171	Ready Capital Corp 6.500%	-	0.020%
172	Brookfield Brp Holdings Canada Inc 7.250%	BEPJ:CA	0.020%
173	Cantor Fitzgerald Income Trust Inc 9.500%	CFTRA	0.020%
174	Brookfield Oaktree Holdings Llc 6.550%	OAKB	0.020%
175	Algonquin Power & Utilities Corp - Common	AQN:CA	0.010%
176	Abacus Global Management Inc 9.875%	ABXL	0.010%
177	Agnc Investment Corp 8.750%	AGNCZ	0.010%
178	Midland States Bancorp Inc 7.750%	MSBIP	0.010%
179	Brookfield Oaktree Holdings Llc 6.625%	OAKA	0.010%
180	Oxford Lane Capital Corp 7.950%	OXLCG	0.010%
181	Vse Corp 5.750%	VSECU	0.010%
182	Athene (Ath) / Apollo Global Management (Apo)	APO	0.000%
183	Associated Banc-Corp 6.625%	-	0.000%
184	Adamas Trust Inc 9.875%	ADAMH	0.000%
185	First Busey Corp 8.250%	BUSEP	0.000%
186	Epr Properties 9.000%	EPRE	0.000%
187	Tpg Mortgage Investment Trust Inc 8.250%	MITTA	0.000%
188	Oxford Lane Capital Corp 6.000%	OXLCO	0.000%
189	Pg&E Corp 6.000%	PCGX	0.000%
190	Valley National Bancorp 8.250%	VLYPN	0.000%
191	Cash/Cash Equivalents	-	-26.950%