PFO ETF

$9.04

AUM$132M

Holdings260

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PFO ETF

$9.04

Flaherty & Crumrine Preferred Income Opportunity Fund Inc

AUM$132M

Holdings260

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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

136.9%

Gross exposure

136.9%

Long

136.9%

Cash & collateral

0.2%

As of Nov 28, 2025

Showing top 50 of 209 holdings · as of Nov 28, 2025

PFO holdings, by weight
#	Ticker	Name	Weight	Cumulative	Shares	Mkt value	Share chg	Sector	Industry
1	PFS	Provident Financing Trust IFinancials · Diversified Financial Services	3.99%	4.0%	-	$5.39M	-	Financials	Diversified Financial Services
2	—	Metlife Inc Jr Subordina 144a 04/38 9.25Financials · Insurance	2.98%	7.0%	-	$4.02M	-	Financials	Insurance
Share changes, sector and industry · Pro
3	MS.PF	Morgan Stanley, Series F, Pfd.	2.77%	9.7%	148,000	$3.74M
4	—	New York Community Bancorp, Inc., Series A., Pfd.	2.75%	12.5%	166,600	$3.72M
5	—	Land O'Lakes Inc 8% /perp	2.66%	15.2%	-	$3.59M
6	FITB	Fifth Third Bancorp, Series I, Pfd.	2.64%	17.8%	139,104	$3.57M
7	—	Liberty Mutual Group Inc	2.61%	20.4%	-	$3.53M
8	—	Hsbc Holdings Plc	2.60%	23.0%	-	$3.51M
9	DFG	Delphi Financial Group Inc	2.38%	25.4%	129,700	$3.21M
10	Debt	Metlife Inc	2.34%	27.7%	-	$3.16M
11	—	Bnp Paribas Sa	2.30%	30.0%	-	$3.11M
12	—	Banco Santander, S.A. 4.75% Perp	2.20%	32.2%	-	$2.97M
13	CMA	Comerica Inc.	2.00%	34.2%	104,660	$2.70M
14	RF	Regions Financial Corp	1.97%	36.2%	111,980	$2.66M
15	Debt	The PNC Financial Services Group, Inc. 6.00% Dec 31/99	1.77%	38.0%	-	$2.39M
16	—	Synovus Financial Corp	1.65%	39.6%	84,266	$2.22M
17	—	Athene Holding Ltd Pref	1.65%	41.3%	89,850	$2.22M
18	—	Liberty Mutual Insurance, 7.697% Due October 15, 2097	1.59%	42.9%	-	$2.14M
19	—	Emera Inc V/R 06/15/76	1.52%	44.4%	-	$2.05M
20	—	Lloyds Bk Gr Plc	1.32%	45.7%	-	$1.78M
21	—	Keycorp, Series E, Pfd.	1.29%	47.0%	69,411	$1.74M
22	WFC	Wells Fargo & Co	1.29%	48.3%	-	$1.75M
23	—	Standard Chartered Plc	1.27%	49.5%	-	$1.71M
24	Debt	American International Group	1.25%	50.8%	-	$1.69M
25	—	Citizens Financial Group 12/99 1	1.19%	52.0%	-	$1.61M
26	—	Banco Bilbao Vizcaya Argentaria Sa 6.125 11/16/2027	1.16%	53.1%	-	$1.56M
27	—	Banco Bilbao Vizcaya Argentaria Sa 9.375	1.16%	54.3%	-	$1.56M
28	—	Enbridge Inc V/R 03/15/55	1.12%	55.4%	-	$1.51M
29	AQNB	Algonquin Pwr & Utility	1.11%	56.5%	58,330	$1.50M
30	—	Banco Santander Sa 0 03-01-2024	1.07%	57.6%	-	$1.45M
31	—	Keycorp KEY.PR.L	1.07%	58.7%	57,300	$1.45M
32	TSTXX	Blackrock Liquidity Funds T-Fund	1.05%	59.7%	1,419,131	$1.42M
33	Debt	Transcanada Trust	1.04%	60.8%	-	$1.41M
34	—	Amer Agcredit Aca Jr Subordina 144A Var 5.25% 2099-12-31	1.01%	61.8%	-	$1.37M
35	—	Citigroup Inc	0.95%	62.7%	-	$1.28M
36	WSBC	Wesbanco, Inc.	0.94%	63.7%	49,275	$1.27M
37	—	Paramount Global, 6.37%, Due 03/30/2062	0.92%	64.6%	-	$1.25M
38	—	Edison International 5 3/71	0.92%	65.5%	-	$1.24M
39	—	Dominion Energy Inc 09/11/2023	0.91%	66.4%	-	$1.23M
40	MS.PE	Morgan Stanley, Series E, Pfd.	0.91%	67.3%	48,267	$1.23M
41	—	Peco Energy Capital Trust Iii	0.89%	68.2%	-	$1.21M
42	—	Arbor Realty Trust Prfd F	0.89%	69.1%	53,931	$1.20M
43	—	Energy Transfer Lp Regd V/R /Perp/ Ser G 7.12500000	0.88%	70.0%	-	$1.18M
44	—	The Goldman Sachs Group Inc	0.84%	70.8%	-	$1.14M
45	—	Northpointe Bancshares Inc	0.84%	71.7%	46,000	$1.13M
46	SYF	Synchrony Financial	0.84%	72.5%	43,400	$1.13M
47	—	Ft Real Estate Secs /pfd//res/	0.83%	73.3%	1	$1.12M
48	—	Kkr Real Estate Fin Tr 6.5 Cum Pfd	0.82%	74.1%	61,284	$1.11M
49	—	Phillips 66 Co V/R 03/15/56	0.81%	75.0%	-	$1.09M
50	Debt	Eushi Finance Inc	0.78%	75.7%	-	$1.06M
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PFO ETF All Holdings

PFO holdings total 260 positions. The top 10 holdings account for 27.7% of the fund, led by Provident Financing Trust I at 4.0%, Metlife Inc Jr Subordina 144a 04/38 9.25 at 3.0%, Morgan Stanley, Series F, Pfd. at 2.8%.

PFO portfolio concentration is well-diversified, with the top 10 representing 27.7% of total assets. The largest sector exposure is Financials at 87.2%.

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

Compare PFO

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

PFO ETF Holdings

209 of 260 holdings

Sector

Industry

Sort By

1
Provident Financing Trust I
UNM 7.405 03/15/38Financials
3.99%
2
Metlife Inc Jr Subordina 144a 04/38 9.25
MET 9.25 04/08/38Financials
2.98%
3
Morgan Stanley, Series F, Pfd.
MS.PFFinancials
2.77%
4
New York Community Bancorp, Inc., Series A., Pfd.
FLG V6.375 PERP A.Financials
2.75%
5
Land O'Lakes Inc 8% /perp
LLAKES 8 PERP 144AConsumer Staples
2.66%
6
Fifth Third Bancorp, Series I, Pfd.
FITBIFinancials
2.64%
7
Liberty Mutual Group Inc
LIBMUT 7.8 03/15/37 Financials
2.61%
8
Hsbc Holdings Plc
HSBA:LNUnknown
2.60%
9
Delphi Financial Group Inc
DFGUnknown
2.38%
10
Metlife Inc 10.75 08/01/2039
MET 10.75 08/01/39Financials
2.34%
11
Bnp Paribas Sa
BNP V7.75 PERP 144AFinancials
2.30%
12
Banco Santander, S.A. 4.75% Perp
SANTANFinancials
2.20%
13
Comerica Inc.
CMAFinancials
2.00%
14
Regions Financial Corp
RF.PR.CFinancials
1.97%
15
The Pnc Financial Services Group, Inc. 6.00% Dec 31/99 6% 12/31/2099
PNC V6 PERP UFinancials
1.77%
16
Synovus Financial Corp
SNV.PR.EFinancials
1.65%
17
Athene Holding Ltd Pref
ATH 4.875 PERP DFinancials
1.65%
18
Liberty Mutual Insurance, 7.697% Due October 15, 2097
LIBMUT 7.697 10/15/9Financials
1.59%
19
Emera Inc V/R 06/15/76
EMACN V6.75 06/15/76Utilities
1.52%
20
Lloyds Bk Gr Plc
Other
1.32%
21
Keycorp, Series E, Pfd.
KEY.PIFinancials
1.29%
22
Wells Fargo & Co
WFC.PR.AFinancials
1.29%
23
Standard Chartered Plc
STANLN V7.75 PERP 14Financials
1.27%
24
American Intl Group 8.175 05/15/2058
Other
1.25%
25
Citizens Financial Group 12/99 1
CFG V6.375 PERP CFinancials
1.19%
26
Banco Bilbao Vizcaya Argentaria Sa 6.125 11/16/2027
BBVASMFinancials
1.16%
27
Banco Bilbao Vizcaya Argentaria Sa 9.375
BBVASMFinancials
1.16%
28
Enbridge Inc V/R 03/15/55
ENBCN V7.375 03/15/5Energy
1.12%
29
Algonquin Pwr & Utility
AQNBUtilities
1.11%
30
Banco Santander Sa 0 03-01-2024
Other
1.07%
31
Keycorp KEY.PR.L
KEY.PR.LFinancials
1.07%
32
Blackrock Liquidity Funds T-Fund
TSTXXFinancials
1.05%
33
Transcanada Trust 5.5% 09/15/2079
TRPCN V5.5 09/15/79Financials
1.04%
34
Amer Agcredit Aca Jr Subordina 144A Var 5.25% 2099-12-31
AAGACA V5.25 PERP QIFinancials
1.01%
35
Citigroup Inc
C V4.15 PERP YFinancials
0.95%
36
Wesbanco, Inc.
WSBCFinancials
0.94%
37
Paramount Global, 6.37%, Due 03/30/2062
PARA V6.375 03/30/62Communication Services
0.92%
38
Edison Intl 5 3/71
EIX V5 PERP BUtilities
0.92%
39
Dominion Energy Inc 09/11/2023
Other
0.91%
40
Morgan Stanley, Series E, Pfd.
MS.PEFinancials
0.91%
41
Peco Energy Capital Trust Iii
Other
0.89%
42
Arbor Realty Trust Prfd F
ABR.PR.FFinancials
0.89%
43
Energy Transfer Lp Regd V/R /Perp/ Ser G 7.12500000
ET V7.125 PERP GEnergy
0.88%
44
Goldman Sachs Group Inc/the
GS V7.56 PERP RFinancials
0.84%
45
Northpointe Bancshares Inc
NRTBNC.PUnknown
0.84%
46
Synchrony Financial
SYFFinancials
0.84%
47
Ft Real Estate Secs /pfd//res/
FHNUnknown
0.83%
48
Kkr Real Estate Fin Tr 6.5 Cum Pfd
KREF.PAFinancials
0.82%
49
Phillips 66 Co V/R 03/15/56
Other
0.81%
50
Eushi Finance Inc 7.63% 12/15/2054
Other
0.78%
51
Jpmorgan Chase + Co Jr Subordina 12/99 Var12/31/2099
JPM V6.875 PERP NNFinancials
0.78%
52
Enbridge Inc 6%/Var 01/15/2077
ENBCN V6 01/15/77 16Energy
0.77%
53
Kuvare Us Holdings Inc
KUVARE V7 02/17/51 1Financials
0.76%
54
Enstar Group, Ltd.
ESGRFinancials
0.74%
55
Everest Reinsurance Holdings Inc
Other
0.73%
56
Entergy Corp V/R 12/01/54
ETR V7.125 12/01/54Utilities
0.72%
57
Sbl Holdings, Llc 6.5% 12/31/2099
Other
0.72%
58
PNC Financial Services Group, 3.5% 23jan2024
Other
0.71%
59
Reinsurance Group of America, Incorporated
RGAFinancials
0.71%
60
Ally Financial Inc Jr Subordina 12/99 Var 4.7
ALLY V4.7 PERP BFinancials
0.70%
61
Sbl Holdings Inc Sr Unsecured 144a Var
Other
0.69%
62
Sempra Energy 5Y Us Ti + 2.868 04/01/2052
SRE V4.125 04/01/52Utilities
0.69%
63
Royal Bank Of Canada Jr Subordina 11/84 Var
RY V6.35 11/24/84Financials
0.68%
64
American Electric V/R 12/15/54
AEP V6.95 12/15/54Utilities
0.68%
65
Algonquin Power & Utilities Corp., 4.75%,Jan18,2082
AQNCN V4.75 01/18/82Utilities
0.66%
66
Comed Financing Iii
Other
0.66%
67
Umb Financial Corp.
UMBFFinancials
0.65%
68
Duke Energy Corp Jr Subordina 09/54 Var
DUK V6.45 09/01/54Utilities
0.64%
69
Aercap Ireland Capital Dac / Aercap Global Aviation Trust 6.95% 03/10/2055
AER V6.95 03/10/55Financials
0.63%
70
Nextera Energy Capital Ho 6.68588 06/14/2067
NEE V0 06/15/67Utilities
0.61%
71
First Citizens BancShares Inc
FCNCAFinancials
0.60%
72
Capital One Ficial Corporation 3.95% 12/31/2099
COF V3.95 PERP MFinancials
0.60%
73
Connectone Bancorp Inc
CNOBFinancials
0.59%
74
Energy Transfer
ETEnergy
0.59%
75
Sce Trust V
SCE.PKUtilities
0.59%
76
Enbridge Inc 8.5% 01/15/2084
ENBCN V8.5 01/15/84Energy
0.58%
77
Bank Of Nova Scotia/The 8 01-27-2084
BNS V8 01/27/84Financials
0.57%
78
Huntington Bancshares Inc./Oh
HBANFinancials
0.57%
79
Sold NOK Bought USD 20260407
Other
0.57%
80
General Motors Financial Co In Jr Subordina 12/99 Var
GM V6.5 PERP BFinancials
0.54%
81
Sce Trust Vii
SCE.PRMUtilities
0.54%
82
Societe Generale Jr Subordina 144A 12/99 Var
Other
0.52%
83
State Street Corp Jr Subordina 12/99 Var 6.7
STT V6.7 PERP IFinancials
0.52%
84
Cnp 3.6 11/01/21
Other
0.52%
85
Aes Corp/The 7.6% 15Jan2055
AES V7.6 01/15/55Utilities
0.51%
86
Bank Of Montreal (Callable) 7.70% May 26, 2084
BMO V7.7 05/26/84Financials
0.51%
87
Bell Telephone Company (Nc10.5) 7 09/15/2055
BCECN V7 09/15/55Communication Services
0.50%
88
Royal Bank Of Canada 7.5% May 02, 2084
RY V7.5 05/02/84Financials
0.50%
89
Societe Generale Sa
Other
0.49%
90
Global Atlantic Finance Co.
GBLATL 7.95 06/15/33Financials
0.48%
91
Wells Fargo And Co New 3.9/Var Perp
WFC V3.9 PERP BBFinancials
0.48%
92
Athene (Ath) / Apollo Global Management (Apo)
APOFinancials
0.48%
93
Citizens Financial Group Inc.
CFGFinancials
0.48%
94
Royal Bank Of Canada 6.500% Flt 11/24/85
Other
0.47%
95
Liberty Mutual Gr V/R 12/15/51
LIBMUT V4.125 12/15/Financials
0.46%
96
Bank Of America Corp 6.25% 12/31/2099
BAC V6.25 PERPFinancials
0.46%
97
Bacr V4.375 Perp
BACR V4.375 PERPFinancials
0.45%
98
Ally Finl Inc 4.7%/Var Perp
ALLY V4.7 PERP CFinancials
0.44%
99
Axis Specialty Finance Llc 4.9% 01/15/2040
AXS V4.9 01/15/40Financials
0.44%
100
Wintrust Financial Corp
WTFCFinancials
0.44%
101
UBS Group, 4.875% perp., USD
UBS V4.875 PERP 144AFinancials
0.43%
102
Evergy Inc Subordinated 06/55 Var
EVRG V6.65 06/01/55Utilities
0.42%
103
Goldman Sachs Group Inc Regd V/r /perp/ Ser Q 5.50000000
GS V7.379 PERP QFinancials
0.42%
104
Sempra 5.5 08/01/2033
SRE 5.5 08/01/33Utilities
0.42%
105
Canadian Imperial Bank 7.000% Flt 10/28/85
CM V7 10/28/85Financials
0.42%
106
Bank Of N Vrn 10/27/85
Other
0.41%
107
Corebridge Financial Inc 6.375 2054-09-15
CRBG V6.375 09/15/54Financials
0.41%
108
General Motors Financial Co Inc (Pfd) 5.70% 03/30/2172 Perpetual
GM V5.7 PERP CFinancials
0.41%
109
Voya Financial Inc
VOYA.PR.BFinancials
0.41%
110
PartnerRe Ltd.
PRE.J:BMUnknown
0.41%
111
Northwest Natural Holdi Jr Subordina 09/55 Var 7% 09/15/2055
NWN V7 09/15/55Utilities
0.40%
112
Texas Capital Bancshares Inc
TCBIFinancials
0.40%
113
Xcel Energy Inc.
XELUtilities
0.40%
114
American Express Co 3.55 Perpetl 9/15/2174
AXP V3.55 PERPFinancials
0.40%
115
Banco Mercantil De Norte Jr Subordina 144A 12/99 Var
BANORT V6.625 PERP 1Financials
0.40%
116
Dte Energy Co.
DTEUtilities
0.40%
117
Bank Nova Scoti 7.35 4/85
BNS V7.35 04/27/85Financials
0.39%
118
Nisource Inc. 6.95 11/30/2054
NI V6.95 11/30/54Utilities
0.39%
119
Pnc Financial Servi V/R /Perp/
PNC V6.2 PERP VFinancials
0.39%
120
Fmc Corp V/R 11/01/55
FMC V8.45 11/01/55Materials
0.38%
121
Rogers Communications, Inc.
RCICN V5.25 03/15/82Communication Services
0.38%
122
Dominion Energy Inc 4.350000% Maturity: Perpetual Callable 01/15/2027 At 100.0000
D V4.35 PERP CUtilities
0.38%
123
Affiliated Managers Group Inc.
AMGFinancials
0.37%
124
American National Group Inc
AEL.PRAUnknown
0.37%
125
Banco Mercantil Del Norte Variable Rate
BANORTFinancials
0.37%
126
Credit Agricole Sa 7.13% Sep 23/35
Other
0.37%
127
Dime Community Bancshares Inc
DCOMP.PFinancials
0.37%
128
Ing Groep Nv
INTNED V3.875 PERPFinancials
0.37%
129
South Bow Canadian Infrastructure Holdings Ltd 0.075 03/01/2055
SOBOCNUtilities
0.37%
130
Enstar Finance Ll V/R 01/15/42
ESGR V5.5 01/15/42Financials
0.36%
131
Hsbc Holdings Plc 6 05/22/2027
HSBC V6 PERP *Financials
0.36%
132
M&T Bank Corp
MTBFinancials
0.36%
133
M&T Bank Corp 3.500000% Maturity: Perpetual
MTB V3.5 PERPFinancials
0.36%
134
Qwest Corp Preferred Stock 06/57 6.75
CTDDCommunication Services
0.36%
135
Tpg Operating Group Ii Lp
TPGXLFinancials
0.36%
136
Bbva Bancomer Sa V/R 09/13/34
BBVASM V5.875 09/13/Financials
0.36%
137
Altagas Ltd V/R 10/15/54
ALACN V7.2 10/15/54 Utilities
0.35%
138
Cvs Health Corp 7% 10Mar2055
CVS V7 03/10/55Health Care
0.35%
139
Canadian Imperial Bank Jr Subordina 01/85 Var
CM V6.95 01/28/85Financials
0.35%
140
Stifel Finl Corp
SFFinancials
0.35%
141
Valley National Bancorp
VLYFinancials
0.35%
142
Adamas Trust, Inc. Common Stock
ADAM:ILUnknown
0.35%
143
Sce Trust Viii
EIX 6.95 PERP NUtilities
0.34%
144
SPIRE INC Variable rate, due 06/01/2056
Other
0.34%
145
Entergy Corp Jr Subordina 06/56 Var 06/15/2056
Other
0.33%
146
Equitable Holdings Inc
Other
0.33%
147
Farm Credit Bk Of Texas Jr Subordina 12/99 Var
FARMCB V7 PERP 6Financials
0.33%
148
Morgan Stanley 5.3% 12/31/2049
MS V0 PERP NFinancials
0.33%
149
American Electric Power Co Inc 0.0605 03/f15/2056
Other
0.33%
150
Sunoco LP 7.88 03/18/2174
Other
0.32%
151
Ubs Group Ag 144A 4.375000% Maturity: Perpetual
UBS V4.375 PERP 144AFinancials
0.32%
152
ROYAL BANK OF CANADA JR SUBORDINA 08/85 VAR
RY V6.75 08/24/85Financials
0.31%
153
Citigroup Inc 3.88% 12/31/2099
C V3.875 PERP XFinancials
0.31%
154
Cobank Acb
COBKACFinancials
0.31%
155
Bnp Paribas Sa
BNP V9.25 PERP 144AFinancials
0.30%
156
Cadence Bancorp Common Stock
CADEFinancials
0.30%
157
Fortegra Group Inc/The 9.25 11/15/2064
Other
0.30%
158
Telus Corp V/R 10/15/55
TCN V7 10/15/55Communication Services
0.30%
159
Lincoln National Corp.
LNCFinancials
0.29%
160
Lincoln National, 9.25% perp., USD
LNC V9.25 PERP CFinancials
0.29%
161
Metlife Capital Trust Iv
MET 7.875 12/15/37Financials
0.29%
162
Aercap Ireland Cap/Globa Company Guar 01/56 Var
AER V6.5 01/31/56Financials
0.29%
163
Corebridge Financial, Inc.
Other
0.29%
164
Edison International 5Y Us Ti + 4.698 12/31/2049
EIX V5.375 PERP AUtilities
0.29%
165
Fg 7.3
FGFinancials
0.28%
166
Qwest Corp Preferred Stock 09/56 6.5
CTBBCommunication Services
0.28%
167
Tpg Re Finance Trust, Inc.
TRTXFinancials
0.28%
168
Western Alliance Bancorp
WAL.PR.AFinancials
0.28%
169
Renaissancere Holdings L /Pfd/
RNR.GUnknown
0.27%
170
First Horizon Natl Corp 6.5 Pfd
FHN.PEFinancials
0.26%
171
Toronto-Dominion Bank/The
Other
0.26%
172
Bank Of Montreal Jr Subordina 11/84 Var %
BMO V7.3 11/26/84Financials
0.26%
173
Barclays Plc 8 12/71
A3K745Financials
0.26%
174
Cms Energy Corp 6.5 2055-06-01
CMS V6.5 06/01/55Utilities
0.25%
175
Exelon Corporation 6.5% Mar 15, 2055
EXC V6.5 03/15/55Utilities
0.25%
176
Universal Insurance Holdings, Inc.
Other
0.25%
177
Axis Capital Holdings Ltd.
AXSFinancials
0.25%
178
Webster Financial Corp
WBS.PR.GFinancials
0.24%
179
Perpetual Bonds
ACAFPUnknown
0.24%
180
Societe Generale Sa
SOCGENFinancials
0.22%
181
Corporate Bonds
BNP V4.625 PERP 144AFinancials
0.22%
182
Bank Of America Corp Jr Subordina 12/49 Var 6.3
BAC V6.3 PERP DDFinancials
0.22%
183
Prudential Financial Inc 5.7% 12/14/2036
PRU 5.7 12/14/36 MTNFinancials
0.22%
184
Societe Generale Jr Subordina 144A 12/99 Var
SOCGENUnknown
0.22%
185
Huntington Bancshares Regd V/r /perp/ Ser F 5.62500000
HBAN V5.625 PERP FFinancials
0.21%
186
Jackson Financial Inc., Pfd.
JXN V8 PERPFinancials
0.21%
187
Standard Chartered Plc
Other
0.21%
188
Washington Fed Hwy Grnt Antic
WAFDFinancials
0.21%
189
Compeer Financial Aca
AGSTAR V4.875 PERP QFinancials
0.21%
190
Bank Of New York Mellon C 5.95 12/19/2173
Other
0.20%
191
Huntington Bancshares Incorporated 4.45% Oct 15/27
HBAN V4.45 PERP GFinancials
0.20%
192
Pnc Financial Services Jr Subordina 12/99 Var
PNC V3.4 PERP TFinancials
0.20%
193
Wells Fargo & Co., Class A, Series L, Conv. Pfd.
WFC.PRLFinancials
0.20%
194
Natwest Group Pl
NWG V4.6 PERP .*.Financials
0.19%
195
Assurant, Inc.
AIZNFinancials
0.19%
196
Capital One Financial Corporation Depositary Shs Repr 1/40Th 5% Non-Cum Red Perp Pfd Registered Shs
COF.PR.IFinancials
0.19%
197
Banco Mercantil Del Norte, S.a.
BANORT V7.5 PERP 144Financials
0.17%
198
Natwest Group Plc 1Y Us Ti + 2.55 05/22/2028
NWG V3.073 05/22/28Financials
0.17%
199
Land O' Lakes Inc 144a 7.250000% Maturity: Perpetual
LLAKES 7.25 PERP 144Consumer Staples
0.16%
200
Cno Financial Group Inc
CNOFinancials
0.16%
201
Arch Capital Group Ltd 5.45%
ACGLOFinancials
0.15%
202
Citigroup, Inc. Pref
C V4 PERP WFinancials
0.15%
203
American Electric Power Co. Inc. 5Y Us Ti + 2.675 02/15/2062
AEP V3.875 02/15/62Utilities
0.14%
204
Carlyle Finance Llc
CGABLFinancials
0.14%
205
Fulton Financial Corp
FULTFinancials
0.11%
206
Vistra Corp Regd V/R /Perp/ 144A P/P 7.00000000
VST V7 PERP 144AUtilities
0.10%
207
Arbor Rlty Tr Inc 6.375 Cum Pfd
ABR.PDFinancials
0.07%
208
Annaly Capital Mgmt Ser F
NLY.FFinancials
0.06%
209
Lehman Bros Hldg-escrow
LEHUnknown
0.00%

#	Company	Ticker	Weight
1	Provident Financing Trust I	UNM 7.405 03/15/38	3.990%
2	Metlife Inc Jr Subordina 144a 04/38 9.25	MET 9.25 04/08/38	2.980%
3	Morgan Stanley, Series F, Pfd.	MS.PF	2.770%
4	New York Community Bancorp, Inc., Series A., Pfd.	FLG V6.375 PERP A.	2.750%
5	Land O'Lakes Inc 8% /perp	LLAKES 8 PERP 144A	2.660%
6	Fifth Third Bancorp, Series I, Pfd.	FITBI	2.640%
7	Liberty Mutual Group Inc	LIBMUT 7.8 03/15/37	2.610%
8	Hsbc Holdings Plc	HSBA:LN	2.600%
9	Delphi Financial Group Inc	DFG	2.380%
10	Metlife Inc 10.75 08/01/2039	MET 10.75 08/01/39	2.340%
11	Bnp Paribas Sa	BNP V7.75 PERP 144A	2.300%
12	Banco Santander, S.A. 4.75% Perp	SANTAN	2.200%
13	Comerica Inc.	CMA	2.000%
14	Regions Financial Corp	RF.PR.C	1.970%
15	The Pnc Financial Services Group, Inc. 6.00% Dec 31/99 6% 12/31/2099	PNC V6 PERP U	1.770%
16	Synovus Financial Corp	SNV.PR.E	1.650%
17	Athene Holding Ltd Pref	ATH 4.875 PERP D	1.650%
18	Liberty Mutual Insurance, 7.697% Due October 15, 2097	LIBMUT 7.697 10/15/9	1.590%
19	Emera Inc V/R 06/15/76	EMACN V6.75 06/15/76	1.520%
20	Lloyds Bk Gr Plc	-	1.320%
21	Keycorp, Series E, Pfd.	KEY.PI	1.290%
22	Wells Fargo & Co	WFC.PR.A	1.290%
23	Standard Chartered Plc	STANLN V7.75 PERP 14	1.270%
24	American Intl Group 8.175 05/15/2058	-	1.250%
25	Citizens Financial Group 12/99 1	CFG V6.375 PERP C	1.190%
26	Banco Bilbao Vizcaya Argentaria Sa 6.125 11/16/2027	BBVASM	1.160%
27	Banco Bilbao Vizcaya Argentaria Sa 9.375	BBVASM	1.160%
28	Enbridge Inc V/R 03/15/55	ENBCN V7.375 03/15/5	1.120%
29	Algonquin Pwr & Utility	AQNB	1.110%
30	Banco Santander Sa 0 03-01-2024	-	1.070%
31	Keycorp KEY.PR.L	KEY.PR.L	1.070%
32	Blackrock Liquidity Funds T-Fund	TSTXX	1.050%
33	Transcanada Trust 5.5% 09/15/2079	TRPCN V5.5 09/15/79	1.040%
34	Amer Agcredit Aca Jr Subordina 144A Var 5.25% 2099-12-31	AAGACA V5.25 PERP QI	1.010%
35	Citigroup Inc	C V4.15 PERP Y	0.950%
36	Wesbanco, Inc.	WSBC	0.940%
37	Paramount Global, 6.37%, Due 03/30/2062	PARA V6.375 03/30/62	0.920%
38	Edison Intl 5 3/71	EIX V5 PERP B	0.920%
39	Dominion Energy Inc 09/11/2023	-	0.910%
40	Morgan Stanley, Series E, Pfd.	MS.PE	0.910%
41	Peco Energy Capital Trust Iii	-	0.890%
42	Arbor Realty Trust Prfd F	ABR.PR.F	0.890%
43	Energy Transfer Lp Regd V/R /Perp/ Ser G 7.12500000	ET V7.125 PERP G	0.880%
44	Goldman Sachs Group Inc/the	GS V7.56 PERP R	0.840%
45	Northpointe Bancshares Inc	NRTBNC.P	0.840%
46	Synchrony Financial	SYF	0.840%
47	Ft Real Estate Secs /pfd//res/	FHN	0.830%
48	Kkr Real Estate Fin Tr 6.5 Cum Pfd	KREF.PA	0.820%
49	Phillips 66 Co V/R 03/15/56	-	0.810%
50	Eushi Finance Inc 7.63% 12/15/2054	-	0.780%
51	Jpmorgan Chase + Co Jr Subordina 12/99 Var12/31/2099	JPM V6.875 PERP NN	0.780%
52	Enbridge Inc 6%/Var 01/15/2077	ENBCN V6 01/15/77 16	0.770%
53	Kuvare Us Holdings Inc	KUVARE V7 02/17/51 1	0.760%
54	Enstar Group, Ltd.	ESGR	0.740%
55	Everest Reinsurance Holdings Inc	-	0.730%
56	Entergy Corp V/R 12/01/54	ETR V7.125 12/01/54	0.720%
57	Sbl Holdings, Llc 6.5% 12/31/2099	-	0.720%
58	PNC Financial Services Group, 3.5% 23jan2024	-	0.710%
59	Reinsurance Group of America, Incorporated	RGA	0.710%
60	Ally Financial Inc Jr Subordina 12/99 Var 4.7	ALLY V4.7 PERP B	0.700%
61	Sbl Holdings Inc Sr Unsecured 144a Var	-	0.690%
62	Sempra Energy 5Y Us Ti + 2.868 04/01/2052	SRE V4.125 04/01/52	0.690%
63	Royal Bank Of Canada Jr Subordina 11/84 Var	RY V6.35 11/24/84	0.680%
64	American Electric V/R 12/15/54	AEP V6.95 12/15/54	0.680%
65	Algonquin Power & Utilities Corp., 4.75%,Jan18,2082	AQNCN V4.75 01/18/82	0.660%
66	Comed Financing Iii	-	0.660%
67	Umb Financial Corp.	UMBF	0.650%
68	Duke Energy Corp Jr Subordina 09/54 Var	DUK V6.45 09/01/54	0.640%
69	Aercap Ireland Capital Dac / Aercap Global Aviation Trust 6.95% 03/10/2055	AER V6.95 03/10/55	0.630%
70	Nextera Energy Capital Ho 6.68588 06/14/2067	NEE V0 06/15/67	0.610%
71	First Citizens BancShares Inc	FCNCA	0.600%
72	Capital One Ficial Corporation 3.95% 12/31/2099	COF V3.95 PERP M	0.600%
73	Connectone Bancorp Inc	CNOB	0.590%
74	Energy Transfer	ET	0.590%
75	Sce Trust V	SCE.PK	0.590%
76	Enbridge Inc 8.5% 01/15/2084	ENBCN V8.5 01/15/84	0.580%
77	Bank Of Nova Scotia/The 8 01-27-2084	BNS V8 01/27/84	0.570%
78	Huntington Bancshares Inc./Oh	HBAN	0.570%
79	Sold NOK Bought USD 20260407	-	0.570%
80	General Motors Financial Co In Jr Subordina 12/99 Var	GM V6.5 PERP B	0.540%
81	Sce Trust Vii	SCE.PRM	0.540%
82	Societe Generale Jr Subordina 144A 12/99 Var	-	0.520%
83	State Street Corp Jr Subordina 12/99 Var 6.7	STT V6.7 PERP I	0.520%
84	Cnp 3.6 11/01/21	-	0.520%
85	Aes Corp/The 7.6% 15Jan2055	AES V7.6 01/15/55	0.510%
86	Bank Of Montreal (Callable) 7.70% May 26, 2084	BMO V7.7 05/26/84	0.510%
87	Bell Telephone Company (Nc10.5) 7 09/15/2055	BCECN V7 09/15/55	0.500%
88	Royal Bank Of Canada 7.5% May 02, 2084	RY V7.5 05/02/84	0.500%
89	Societe Generale Sa	-	0.490%
90	Global Atlantic Finance Co.	GBLATL 7.95 06/15/33	0.480%
91	Wells Fargo And Co New 3.9/Var Perp	WFC V3.9 PERP BB	0.480%
92	Athene (Ath) / Apollo Global Management (Apo)	APO	0.480%
93	Citizens Financial Group Inc.	CFG	0.480%
94	Royal Bank Of Canada 6.500% Flt 11/24/85	-	0.470%
95	Liberty Mutual Gr V/R 12/15/51	LIBMUT V4.125 12/15/	0.460%
96	Bank Of America Corp 6.25% 12/31/2099	BAC V6.25 PERP	0.460%
97	Bacr V4.375 Perp	BACR V4.375 PERP	0.450%
98	Ally Finl Inc 4.7%/Var Perp	ALLY V4.7 PERP C	0.440%
99	Axis Specialty Finance Llc 4.9% 01/15/2040	AXS V4.9 01/15/40	0.440%
100	Wintrust Financial Corp	WTFC	0.440%
101	UBS Group, 4.875% perp., USD	UBS V4.875 PERP 144A	0.430%
102	Evergy Inc Subordinated 06/55 Var	EVRG V6.65 06/01/55	0.420%
103	Goldman Sachs Group Inc Regd V/r /perp/ Ser Q 5.50000000	GS V7.379 PERP Q	0.420%
104	Sempra 5.5 08/01/2033	SRE 5.5 08/01/33	0.420%
105	Canadian Imperial Bank 7.000% Flt 10/28/85	CM V7 10/28/85	0.420%
106	Bank Of N Vrn 10/27/85	-	0.410%
107	Corebridge Financial Inc 6.375 2054-09-15	CRBG V6.375 09/15/54	0.410%
108	General Motors Financial Co Inc (Pfd) 5.70% 03/30/2172 Perpetual	GM V5.7 PERP C	0.410%
109	Voya Financial Inc	VOYA.PR.B	0.410%
110	PartnerRe Ltd.	PRE.J:BM	0.410%
111	Northwest Natural Holdi Jr Subordina 09/55 Var 7% 09/15/2055	NWN V7 09/15/55	0.400%
112	Texas Capital Bancshares Inc	TCBI	0.400%
113	Xcel Energy Inc.	XEL	0.400%
114	American Express Co 3.55 Perpetl 9/15/2174	AXP V3.55 PERP	0.400%
115	Banco Mercantil De Norte Jr Subordina 144A 12/99 Var	BANORT V6.625 PERP 1	0.400%
116	Dte Energy Co.	DTE	0.400%
117	Bank Nova Scoti 7.35 4/85	BNS V7.35 04/27/85	0.390%
118	Nisource Inc. 6.95 11/30/2054	NI V6.95 11/30/54	0.390%
119	Pnc Financial Servi V/R /Perp/	PNC V6.2 PERP V	0.390%
120	Fmc Corp V/R 11/01/55	FMC V8.45 11/01/55	0.380%
121	Rogers Communications, Inc.	RCICN V5.25 03/15/82	0.380%
122	Dominion Energy Inc 4.350000% Maturity: Perpetual Callable 01/15/2027 At 100.0000	D V4.35 PERP C	0.380%
123	Affiliated Managers Group Inc.	AMG	0.370%
124	American National Group Inc	AEL.PRA	0.370%
125	Banco Mercantil Del Norte Variable Rate	BANORT	0.370%
126	Credit Agricole Sa 7.13% Sep 23/35	-	0.370%
127	Dime Community Bancshares Inc	DCOMP.P	0.370%
128	Ing Groep Nv	INTNED V3.875 PERP	0.370%
129	South Bow Canadian Infrastructure Holdings Ltd 0.075 03/01/2055	SOBOCN	0.370%
130	Enstar Finance Ll V/R 01/15/42	ESGR V5.5 01/15/42	0.360%
131	Hsbc Holdings Plc 6 05/22/2027	HSBC V6 PERP *	0.360%
132	M&T Bank Corp	MTB	0.360%
133	M&T Bank Corp 3.500000% Maturity: Perpetual	MTB V3.5 PERP	0.360%
134	Qwest Corp Preferred Stock 06/57 6.75	CTDD	0.360%
135	Tpg Operating Group Ii Lp	TPGXL	0.360%
136	Bbva Bancomer Sa V/R 09/13/34	BBVASM V5.875 09/13/	0.360%
137	Altagas Ltd V/R 10/15/54	ALACN V7.2 10/15/54	0.350%
138	Cvs Health Corp 7% 10Mar2055	CVS V7 03/10/55	0.350%
139	Canadian Imperial Bank Jr Subordina 01/85 Var	CM V6.95 01/28/85	0.350%
140	Stifel Finl Corp	SF	0.350%
141	Valley National Bancorp	VLY	0.350%
142	Adamas Trust, Inc. Common Stock	ADAM:IL	0.350%
143	Sce Trust Viii	EIX 6.95 PERP N	0.340%
144	SPIRE INC Variable rate, due 06/01/2056	-	0.340%
145	Entergy Corp Jr Subordina 06/56 Var 06/15/2056	-	0.330%
146	Equitable Holdings Inc	-	0.330%
147	Farm Credit Bk Of Texas Jr Subordina 12/99 Var	FARMCB V7 PERP 6	0.330%
148	Morgan Stanley 5.3% 12/31/2049	MS V0 PERP N	0.330%
149	American Electric Power Co Inc 0.0605 03/f15/2056	-	0.330%
150	Sunoco LP 7.88 03/18/2174	-	0.320%
151	Ubs Group Ag 144A 4.375000% Maturity: Perpetual	UBS V4.375 PERP 144A	0.320%
152	ROYAL BANK OF CANADA JR SUBORDINA 08/85 VAR	RY V6.75 08/24/85	0.310%
153	Citigroup Inc 3.88% 12/31/2099	C V3.875 PERP X	0.310%
154	Cobank Acb	COBKAC	0.310%
155	Bnp Paribas Sa	BNP V9.25 PERP 144A	0.300%
156	Cadence Bancorp Common Stock	CADE	0.300%
157	Fortegra Group Inc/The 9.25 11/15/2064	-	0.300%
158	Telus Corp V/R 10/15/55	TCN V7 10/15/55	0.300%
159	Lincoln National Corp.	LNC	0.290%
160	Lincoln National, 9.25% perp., USD	LNC V9.25 PERP C	0.290%
161	Metlife Capital Trust Iv	MET 7.875 12/15/37	0.290%
162	Aercap Ireland Cap/Globa Company Guar 01/56 Var	AER V6.5 01/31/56	0.290%
163	Corebridge Financial, Inc.	-	0.290%
164	Edison International 5Y Us Ti + 4.698 12/31/2049	EIX V5.375 PERP A	0.290%
165	Fg 7.3	FG	0.280%
166	Qwest Corp Preferred Stock 09/56 6.5	CTBB	0.280%
167	Tpg Re Finance Trust, Inc.	TRTX	0.280%
168	Western Alliance Bancorp	WAL.PR.A	0.280%
169	Renaissancere Holdings L /Pfd/	RNR.G	0.270%
170	First Horizon Natl Corp 6.5 Pfd	FHN.PE	0.260%
171	Toronto-Dominion Bank/The	-	0.260%
172	Bank Of Montreal Jr Subordina 11/84 Var %	BMO V7.3 11/26/84	0.260%
173	Barclays Plc 8 12/71	A3K745	0.260%
174	Cms Energy Corp 6.5 2055-06-01	CMS V6.5 06/01/55	0.250%
175	Exelon Corporation 6.5% Mar 15, 2055	EXC V6.5 03/15/55	0.250%
176	Universal Insurance Holdings, Inc.	-	0.250%
177	Axis Capital Holdings Ltd.	AXS	0.250%
178	Webster Financial Corp	WBS.PR.G	0.240%
179	Perpetual Bonds	ACAFP	0.240%
180	Societe Generale Sa	SOCGEN	0.220%
181	Corporate Bonds	BNP V4.625 PERP 144A	0.220%
182	Bank Of America Corp Jr Subordina 12/49 Var 6.3	BAC V6.3 PERP DD	0.220%
183	Prudential Financial Inc 5.7% 12/14/2036	PRU 5.7 12/14/36 MTN	0.220%
184	Societe Generale Jr Subordina 144A 12/99 Var	SOCGEN	0.220%
185	Huntington Bancshares Regd V/r /perp/ Ser F 5.62500000	HBAN V5.625 PERP F	0.210%
186	Jackson Financial Inc., Pfd.	JXN V8 PERP	0.210%
187	Standard Chartered Plc	-	0.210%
188	Washington Fed Hwy Grnt Antic	WAFD	0.210%
189	Compeer Financial Aca	AGSTAR V4.875 PERP Q	0.210%
190	Bank Of New York Mellon C 5.95 12/19/2173	-	0.200%
191	Huntington Bancshares Incorporated 4.45% Oct 15/27	HBAN V4.45 PERP G	0.200%
192	Pnc Financial Services Jr Subordina 12/99 Var	PNC V3.4 PERP T	0.200%
193	Wells Fargo & Co., Class A, Series L, Conv. Pfd.	WFC.PRL	0.200%
194	Natwest Group Pl	NWG V4.6 PERP .*.	0.190%
195	Assurant, Inc.	AIZN	0.190%
196	Capital One Financial Corporation Depositary Shs Repr 1/40Th 5% Non-Cum Red Perp Pfd Registered Shs	COF.PR.I	0.190%
197	Banco Mercantil Del Norte, S.a.	BANORT V7.5 PERP 144	0.170%
198	Natwest Group Plc 1Y Us Ti + 2.55 05/22/2028	NWG V3.073 05/22/28	0.170%
199	Land O' Lakes Inc 144a 7.250000% Maturity: Perpetual	LLAKES 7.25 PERP 144	0.160%
200	Cno Financial Group Inc	CNO	0.160%
201	Arch Capital Group Ltd 5.45%	ACGLO	0.150%
202	Citigroup, Inc. Pref	C V4 PERP W	0.150%
203	American Electric Power Co. Inc. 5Y Us Ti + 2.675 02/15/2062	AEP V3.875 02/15/62	0.140%
204	Carlyle Finance Llc	CGABL	0.140%
205	Fulton Financial Corp	FULT	0.110%
206	Vistra Corp Regd V/R /Perp/ 144A P/P 7.00000000	VST V7 PERP 144A	0.100%
207	Arbor Rlty Tr Inc 6.375 Cum Pfd	ABR.PD	0.070%
208	Annaly Capital Mgmt Ser F	NLY.F	0.060%
209	Lehman Bros Hldg-escrow	LEH	0.000%