PREF ETF

$18.64

AUM$1.9B

TER0.55%

Holdings163

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PREF ETF

$18.64

Principal Spectrum Preferred Securities Active ETF

AUM$1.9B

TER0.55%

Holdings163

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

BAC V6.25 PERP is PREF's largest holding at 2.76% of the fund as of Sep 1, 2026. PREF is Principal Spectrum Preferred Securities Active ETF.

Showing top 50 of 167 holdings · as of Sep 1, 2026

PREF holdings, by weight
#	Ticker	Name	Weight	Cumulative	Mkt value	Sector	Industry
1	Debt	Bank Of America CorpFinancials · Banks	2.76%	2.8%	$51.90M	Financials	Banks
2	Debt	Enbridge IncEnergy · Oil & Gas	2.34%	5.1%	$44.00M	Energy	Oil & Gas
Sector and industry · Pro
3	—	Metlife Inc 5.85% Mar 15, 2056 5.85 2056-03-15	2.24%	7.3%	$42.06M
4	—	Toronto-Dominion Bank Variable Rate, Due 10/31/2082	1.98%	9.3%	$37.31M
5	—	PNC Financial Services Group, Inc. 6.2506/15/2023	1.88%	11.2%	$35.27M
6	Debt	JPMorgan Chase & Co	1.84%	13.0%	$34.55M
7	Debt	Charles Schwab Corp. 5Y Us Ti +	1.75%	14.8%	$32.99M
8	—	Bank Of Nova Scotia Jr Subordina 10/82 Var	1.72%	16.5%	$32.41M
9	Debt	Bank Of America Corp. 5Y Us Ti +	1.61%	18.1%	$30.28M
10	—	M&T Bank Corp 3.500000% Maturity: Perpetual	1.61%	19.7%	$30.19M
11	—	Wells Fargo + Company Jr Subordina 12/99 Var	1.51%	21.2%	$28.36M
12	—	Huntington Bancshares Inc/OH 0.0625 12/f31/2099	1.49%	22.7%	$28.10M
13	—	Metlife Inc Jr Subordina 144a 04/38 9.25	1.48%	24.2%	$27.83M
14	—	Truist Financial Corp Jr Subordina 12/99 Var	1.41%	25.6%	$26.47M
15	Debt	Prudential Financial Inc	1.39%	27.0%	$26.14M
16	—	Bank Of N Vrn 10/27/85	1.37%	28.4%	$25.75M
17	EDF	Electricite De France 9.125%/Var Perp 144A	1.37%	29.8%	$25.84M
18	—	Wells Fargo Co 6.125 6/74	1.36%	31.1%	$25.52M
19	—	JPMorgan Vrn 12/31/99 2099-12-31	1.32%	32.4%	$24.76M
20	Debt	Et V6	1.29%	33.7%	$24.28M
21	—	Canadian Imperial Bank Jr Subordina 01/85 Var	1.23%	34.9%	$23.05M
22	—	Meiji Yasuda Life Insura 6.100% Flt 06/11/55 Sr:144A	1.23%	36.2%	$23.04M
23	—	Bank Of Montreal Jr Subordina 11/84 Var %	1.22%	37.4%	$22.98M
24	—	Goldman Sachs Group Inc (The) 7.5%/Var Perp	1.20%	38.6%	$22.47M
25	Debt	Dominion Energy, Inc	1.19%	39.8%	$22.40M
26	—	Charles Schwab Corp Jr Subordina 12/99 Var 5	1.18%	41.0%	$22.10M
27	Debt	Royal Bank Of Canada Jr Subordina 11/85 Var	1.15%	42.1%	$21.67M
28	Debt	Bp Capital Markets P.L.C	1.13%	43.2%	$21.18M
29	—	Goldman Sachs Group Inc Jr Subordina 12/99 Var	1.11%	44.4%	$20.83M
30	—	Huntington Bancshares Regd V/r /perp/ Ser F 5.62500000	1.08%	45.4%	$20.28M
31	—	Sempra Variable Rate, Due 10/01/2054	1.08%	46.5%	$20.27M
32	—	Citigroup Inc 6.75 Dec. 31, 2059	1.04%	47.6%	$19.64M
33	—	American Electric Power Co Inc 0.0605 03/f15/2056	1.01%	48.6%	$18.92M
34	—	Nextera Energy Capital Holdings, Inc	0.98%	49.5%	$18.40M
35	—	Citigroup Inc. 7%	0.95%	50.5%	$17.95M
36	—	Bank Of Montreal Jr Subordina 11/85 Var	0.94%	51.4%	$17.67M
37	—	Transcanada Trust 5.6%	0.87%	52.3%	$16.35M
38	—	JPMorgan Chase Bank, 6.125% Perp., USD	0.86%	53.2%	$16.26M
39	—	Wells Fargo + Company Jr Subordina 12/99 Var	0.85%	54.0%	$16.06M
40	—	Toronto Dominion Bank Jr Subordina 07/84 Var 7.25% 2084-07-31	0.84%	54.9%	$15.74M
41	Debt	Dominion Energy, Inc	0.82%	55.7%	$15.51M
42	—	Dai-Ichi Life Insurance Co., Ltd. (The)	0.79%	56.5%	$14.90M
43	Debt	Reinsurance Grp Of Amer Subordinated 09/55 Var	0.79%	57.3%	$14.91M
44	—	Canadian Imperial Bank 7.000% Flt 10/28/85	0.77%	58.0%	$14.48M
45	—	State Street Corp Jr Subordina 12/99 Var	0.76%	58.8%	$14.32M
46	—	Bank Of Montreal 7.7%	0.75%	59.5%	$14.17M
47	Debt	State Street Corp	0.75%	60.3%	$14.13M
48	—	Prudential Financial Inc 5.13% 01Mar2052	0.73%	61.0%	$13.81M
49	—	Royal Bank Of Canada 7.5% May 02, 2084	0.72%	61.7%	$13.55M
50	—	Royal Bank Of Canada Jr Subordina 11/84 Var	0.72%	62.5%	$13.59M
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Not reported for this fund: shares, share changes.

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PREF ETF All Holdings

PREF holdings total 163 positions. The top 10 holdings account for 19.7% of the fund, led by Bank Of America Corp 6.25% 12/31/2099 at 2.8%, Enbridge Inc 8.5% 01/15/2084 at 2.3%, Metlife Inc 5.85% Mar 15, 2056 5.85 2056-03-15 at 2.2%.

PREF portfolio concentration is well-diversified, with the top 10 representing 19.7% of total assets. The largest sector exposure is Financials at 53.3%.

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

Compare PREF

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

PREF ETF Holdings

167 of 163 holdings

Sector

Industry

Sort By

1
Bank Of America Corp 6.25% 12/31/2099
BAC V6.25 PERPFinancials
2.76%
2
Enbridge Inc 8.5% 01/15/2084
ENBCN V8.5 01/15/84Energy
2.34%
3
Metlife Inc 5.85% Mar 15, 2056 5.85 2056-03-15
Other
2.24%
4
Toronto-Dominion Bank Variable Rate, Due 10/31/2082
TD V8.125 10/31/82Financials
1.98%
5
Pnc Financial Services Group, Inc. 6.2506/15/2023
PNC V6.25 PERP WFinancials
1.88%
6
Jpmorgan Chase & Co 6.5 04/01/2174
JPM V6.5 PERP OOFinancials
1.84%
7
Charles Schwab Corp. 5Y Us Ti + 2.25 12/31/9999 2.25 9999-12-31
Other
1.75%
8
Bank Of Nova Scotia Jr Subordina 10/82 Var
BNS V8.625 10/27/82Financials
1.72%
9
Bank Of America Corp. 5Y Us Ti + 2.684 12/31/9999
BAC V6.625 PERPFinancials
1.61%
10
M&T Bank Corp 3.500000% Maturity: Perpetual
MTB V3.5 PERPFinancials
1.61%
11
Wells Fargo + Company Jr Subordina 12/99 Var
WFC V6.85 PERPFinancials
1.51%
12
Huntington Bancshares Inc/OH 0.0625 12/f31/2099
Other
1.49%
13
Metlife Inc Jr Subordina 144a 04/38 9.25
MET 9.25 04/08/38Financials
1.48%
14
Truist Financial Corp Jr Subordina 12/99 Var
Other
1.41%
15
Prudential Financial Inc 3.7% 10/01/2050
PRU V3.7 10/01/50Financials
1.39%
16
Bank Of N Vrn 10/27/85
Other
1.37%
17
Electricite De France 9.125%/Var Perp 144A
EDFUtilities
1.37%
18
Wells Fargo Co 6.125 6/74
Other
1.36%
19
Jpmorgan Vrn 12/31/99 2099-12-31
Other
1.32%
20
Et V6.75 02/15/56 Corp
ET V6.75 02/15/56Energy
1.29%
21
Canadian Imperial Bank Jr Subordina 01/85 Var
CM V6.95 01/28/85Financials
1.23%
22
Meiji Yasuda Life Insura 6.100% Flt 06/11/55 Sr:144A
MYLIFE V6.1 06/11/55Financials
1.23%
23
Bank Of Montreal Jr Subordina 11/84 Var %
BMO V7.3 11/26/84Financials
1.22%
24
Goldman Sachs Group Inc (The) 7.5%/Var Perp
GS V7.5 PERP XFinancials
1.20%
25
Dominion Energy, Inc. 6.625 05/14/2055
D V6.625 05/15/55Utilities
1.19%
26
Charles Schwab Corp Jr Subordina 12/99 Var 5
SCHW V4 PERP HFinancials
1.18%
27
Royal Bank Of Canada Jr Subordina 11/85 Var 6.5 11/24/2085
Other
1.15%
28
Bp Capital Markets P.L.C. 6.125 06/17/2173
BPLN V6.125 PERPFinancials
1.13%
29
Goldman Sachs Group Inc Jr Subordina 12/99 Var
GS V6.125 PERP YFinancials
1.11%
30
Huntington Bancshares Regd V/r /perp/ Ser F 5.62500000
HBAN V5.625 PERP FFinancials
1.08%
31
Sempra Variable Rate, Due 10/01/2054
SRE V6.4 10/01/54Utilities
1.08%
32
Citigroup Inc 6.75 Dec. 31, 2059
C V6.75 PERP EEFinancials
1.04%
33
American Electric Power Co Inc 0.0605 03/f15/2056
Other
1.01%
34
Nextera Energy Capital Holdings, Inc
NEE V3.8 03/15/82Utilities
0.98%
35
Citigroup Inc. 7%
C V7 PERP DDFinancials
0.95%
36
Bank Of Montreal Jr Subordina 11/85 Var
BMO V6.875 11/26/85 Financials
0.94%
37
Transcanada Trust 5.6%
TRPCN V5.6 03/07/82Financials
0.87%
38
Jpmorgan Chase Bank, 6.125% Perp., USD
VOYA V7.758 PERP AFinancials
0.86%
39
Wells Fargo + Company Jr Subordina 12/99 Var
WFC V7.625 PERPFinancials
0.85%
40
Toronto Dominion Bank Jr Subordina 07/84 Var 7.25% 2084-07-31
TD V7.25 07/31/84Financials
0.84%
41
Dominion Energy, Inc. 6.2 02/14/2056
D V6.2 02/15/56Utilities
0.82%
42
Dai-Ichi Life Insurance Co., Ltd. (The)
DAIL V6.2 PERP 144AFinancials
0.79%
43
Reinsurance Grp Of Amer Subordinated 09/55 Var 6.65% 09/15/2055
RGA V6.65 09/15/55Financials
0.79%
44
Canadian Imperial Bank 7.000% Flt 10/28/85
CM V7 10/28/85Financials
0.77%
45
State Street Corp Jr Subordina 12/99 Var
STT V6.7 PERP JFinancials
0.76%
46
Bank Of Montreal 7.7%
BMO V7.7 05/26/84Financials
0.75%
47
State Street Corp 6.45% 06/15/2173
STT V6.45 PERPFinancials
0.75%
48
Prudential Financial Inc 5.13% 01Mar2052
PRU V5.125 03/01/52Financials
0.73%
49
Royal Bank Of Canada 7.5% May 02, 2084
RY V7.5 05/02/84Financials
0.72%
50
Royal Bank Of Canada Jr Subordina 11/84 Var
RY V6.35 11/24/84Financials
0.72%
51
Net Other Assets
Other
0.72%
52
Enbridge Inc Regd V/r Ser 20-a 5.75000000
ENBCN V5.75 07/15/80Energy
0.70%
53
Transcanada Pipelines 6.375% Flt 10/17/56 Sr:. 6.375 2056-10-17
Other
0.70%
54
Psx V5.875 03/15/56 A Corp
Other
0.69%
55
Alliant Energy Corp 0.0575 04/F01/2056
Other
0.67%
56
Bank Of New York Mellon Corp Preferred Shs Depositoty Receipt Repr 1/100Th Pfd Shs Series M, 5.62%, 06/20/99
BKUnknown
0.65%
57
Farm Credit Bk Of Texas Jr Subordina 12/99 Var
FARMCB V7 PERP 6Financials
0.65%
58
Nippon Life Insur V/R 01/21/51
NIPLIF V2.75 01/21/5Financials
0.64%
59
Bp Capital Markets Plc 6.45 2034-03-01
BPLN V6.45 PERPFinancials
0.63%
60
Us Bancorp Del 3.7%/Var Perp
USB V3.7 PERPFinancials
0.63%
61
Citigroup Inc 7.375 Perp
C V7.375 PERP ZFinancials
0.62%
62
Goldman Sachs Group Inc/The 6.85% Dec 31, 2079
GS V6.85 PERPFinancials
0.61%
63
Truist Financial Corp 4.8 12/31/2099
TFC V6.669 PERP NFinancials
0.61%
64
American Express Co American Express Co
Other
0.59%
65
Sumitomo Life Insur 5.875% Flt 09/10/55 Sr:144A
Other
0.59%
66
Corebridge Financial, Inc.
Other
0.57%
67
Psx V6.2 03/15/56 B Corp
Other
0.57%
68
Altagas Ltd V/R 10/15/54
ALACN V7.2 10/15/54 Utilities
0.56%
69
Meiji Yasuda Life Insura Subordinated 144A 09/54 Var
MYLIFE V5.8 09/11/54Financials
0.56%
70
Keycorp Capital Iii
Other
0.55%
71
Vodafone Group Plc 5.125 04/06/2081
VOD V5.125 06/04/81Communication Services
0.55%
72
Enbridge Inc 7.63 01/15/2083
ENBCN V7.625 01/15/8Energy
0.53%
73
us dollar001/00/1900
Other
0.53%
74
Nippon Life Insurance 6.5% 04/30/2055
Other
0.53%
75
Entergy Corp Variable Rate, Due 06/15/2056
Other
0.52%
76
Jpmorgan Chase + Co Jr Subordina 12/99 Var12/31/2099
JPM V6.875 PERP NNFinancials
0.52%
77
State Street Corp Jr Subordina 12/99 Var 6.7
STT V6.7 PERP IFinancials
0.52%
78
Dominion Energy Inc 6.88 02/01/2055
D V6.875 02/01/55 AUtilities
0.50%
79
Exelon Corporation 6.5% Mar 15, 2055
EXC V6.5 03/15/55Utilities
0.50%
80
Spire Inc. 0% 05/31/2056
Other
0.49%
81
ROYAL BANK OF CANADA JR SUBORDINA 08/85 VAR
RY V6.75 08/24/85Financials
0.48%
82
Corebridge Financial Inc Variable Rate, Due 09/15/2054
CRBG V6.375 09/15/54Financials
0.47%
83
Citigroup Inc 6.95%
C V6.95 PERP FFFinancials
0.46%
84
Citigroup Inc 05/15/2174
Other
0.45%
85
Bank Of Nova Scotia/The 8 01-27-2084
BNS V8 01/27/84Financials
0.44%
86
Nextera Energy Capital Holding Company Guar 09/54 Var 6.7 2054-09-01
NEE V6.7 09/01/54Utilities
0.42%
87
Royal Bank Of Canada 6.5 05/24/2086 6.5
Other
0.42%
88
Telus Corp V/R 06/09/56 2056-06-09
Other
0.42%
89
Verizon Communications Jr Subordina 05/56 Var 6.2% 05/14/2056
Other
0.42%
90
Algonquin Power & Utilities Corp., 4.75%,Jan18,2082
AQNCN V4.75 01/18/82Utilities
0.41%
91
American Electric Power Company, Inc. 7.05 12/15/2054
AEP V7.05 12/15/54 *Utilities
0.40%
92
Keycorp Capital I
Other
0.40%
93
Nisource Inc. 6.95 11/30/2054
NI V6.95 11/30/54Utilities
0.40%
94
Sempra Jr Subordina 04/55 Var %
SRE V6.55 04/01/55Utilities
0.40%
95
Bank Nova Scoti 7.35 4/85
BNS V7.35 04/27/85Financials
0.39%
96
Corebridge Financial Inc 6.88% 15Dec2052
CRBG V6.875 12/15/52Financials
0.38%
97
State Street Institutional US Government Money Market Fund
GVMXXFinancials
0.38%
98
Telus Corp V/R 10/15/55
TCN V7 10/15/55Communication Services
0.37%
99
Wec Energy Group Inc 5.6 05/15/2056
Other
0.37%
100
Cobank Acb Variable Rate
Other
0.36%
101
Enterprise Products Operating Company Guar 08/77 Var
EPD V5.25 08/16/77 EEnergy
0.35%
102
Truist Financial Corp
TFC V5.1 PERP QFinancials
0.35%
103
Verizon Communications Verizon Communications
Other
0.35%
104
Duke Energy Corp Jr Subordina 09/54 Var
DUK V6.45 09/01/54Utilities
0.34%
105
Transcanada Pipelines Limited 6.125%
Other
0.33%
106
American Electric V/R 12/15/54
AEP V6.95 12/15/54Utilities
0.32%
107
Liberty Mutual Gr V/R 12/15/51
LIBMUT V4.125 12/15/Financials
0.32%
108
Centerpoint Energy, Inc. 05/15/2055
CNP V6.7 05/15/55Utilities
0.31%
109
Eversource Energy 6.10% 08/15/2031 6.1
Other
0.31%
110
Dte Energy Co V/R 07/01/58
Other
0.30%
111
Pnc Financial Servi V/R /Perp/
PNC V6.2 PERP VFinancials
0.30%
112
Allianz Se 6.35 09-06-2053
ALVGR V6.35 09/06/53Financials
0.27%
113
Centerpoint Energy Inc Jr Subordina 08/58 Var
Other
0.27%
114
Citizens Financial Group Jr Subordina 12/99 Var
Other
0.27%
115
Evergy Inc Subordinated 06/55 Var
EVRG V6.65 06/01/55Utilities
0.27%
116
Nippon Life Insurance Regd V/R 144A P/P 2.90000000
NIPLIF V2.9 09/16/51Financials
0.27%
117
Suntrust Capital I
TFC F 05/15/27 AFinancials
0.25%
118
Alexandria Real Estate Eq 7.3 2057-02-15
Other
0.24%
119
Bank Of Montreal 4.8 12/31/2099
BMO V6.709 PERPFinancials
0.24%
120
Emera Us Finance V/R 10/01/56
Other
0.23%
121
Entergy Corp 6.75 20581215
Other
0.23%
122
Sumitomo Life Insur Subordinated 144A 04/81 Var
SUMILF V3.375 04/15/Financials
0.23%
123
Transcanada Pipelines 7% 01Jun2065
TRPCN V7 06/01/65Energy
0.23%
124
Xenia Hotels & Resorts 4.875 06/01/2029 4.875 06/01/2029 4.875 2029-06-01
Other
0.21%
125
Nisource Inc. 5.75 07/15/2056 5.75 2056-07-15
Other
0.21%
126
Transcanada Trust 5.5% 09/15/2079
TRPCN V5.5 09/15/79Financials
0.21%
127
Eushi Finance Inc Company Guar 12/54 Var
EMACN V7.625 12/15/5Financials
0.20%
128
Pnc Financial Services Jr Subordina 12/99 Var
PNC V3.4 PERP TFinancials
0.20%
129
Telus Corp Jr Subordina 10/55 Var
TCN V6.625 10/15/55 Communication Services
0.20%
130
Swiss Re Subordinated Finance Plc 144A 6.19% Apr 01, 2046
SRENVX V6.191 04/01/Financials
0.19%
131
Cms Energy 4.75 6/50
CMS V4.75 06/01/50Utilities
0.17%
132
Huntington Bancshares Incorporated 4.45% Oct 15/27
HBAN V4.45 PERP GFinancials
0.17%
133
Cms Energy Corporation 3.75% Dec 01, 2050
CMS V3.75 12/01/50Utilities
0.15%
134
Energy Transfer Lp Energy Transfer Lp
ET V6.5 02/15/56Energy
0.15%
135
Eversource Energy 6.35% Aug 15, 2056 6.35 2056-08-15
Other
0.15%
136
Nisource Inc Variable Rate, Due 03/31/2055
NI V6.375 03/31/55Utilities
0.15%
137
American Electric Power C 5.8 03/14/2056
Other
0.14%
138
Eushi Finance Inc Company Guar 04/56 Var
Other
0.14%
139
Cobank Acb 6.45% 12/31/2049
COBKAC V6.45 PERP KFinancials
0.13%
140
Southern Co 6.38 2055-03-15
SO V6.375 03/15/55 2Utilities
0.13%
141
Xcel Energy Inc Jr Subordina 12/56 Var 5.75% 12/03/2056
Other
0.13%
142
American Electric Power Co. Inc. 5Y Us Ti + 2.675 02/15/2062
AEP V3.875 02/15/62Utilities
0.12%
143
Liberty Mutual Group Inc
LIBMUT 7.8 03/15/37 Financials
0.12%
144
Nextera Energy Capital Holdings In 6.63 10/01/2066
Other
0.12%
145
Reinsurance Group Of America Inc 6.38% Sep 15, 2056 6.38 2056-09-15
Other
0.12%
146
Citigroup Inc., Series Cc
C V7.125 PERP CCFinancials
0.11%
147
Equitable Holdings Inc 6.700% Flt 03/28/55
EQH V6.7 03/28/55Financials
0.11%
148
The Charles Schwab Corporation 5.00% Dec 31/99 5% 12/31/2099
SCHW V5 PERP KFinancials
0.11%
149
Electricite De France Sa Prp Reg S Sub (H) 9.125% 12-31-79/06-15-33 9.125 2079-12-31
Other
0.11%
150
Dominion Energy Inc 7 06/01/2054
D V7 06/01/54 BUtilities
0.10%
151
Metlife Inc
MET 10.75 08/01/39Financials
0.10%
152
Nippon Life Insurance Co 5.95% 04/16/2054
NIPLIF V5.95 04/16/5Financials
0.09%
153
Centerpoint Energy, Inc 7 02/14/2055
CNP V7 02/15/55 AUtilities
0.08%
154
Dominion Energy, Inc. 6.15 2056-12-15
Other
0.08%
155
Nextera Energy Capital 30Nc10 6.2 10/01/2056
Other
0.07%
156
Southern Company Gas Capital Corp. 6.05%
Other
0.07%
157
Nextera Energy Capital 6.500% Flt 08/15/55 Sr:.
NEE V6.5 08/15/55 .Utilities
0.06%
158
Swiss Re Subordinated Finance Plc 5.698% 04/05/2035
SRENVX V5.698 04/05/Financials
0.05%
159
Southern Co Jr Subordina 04/58 Var
Other
0.04%
160
CenterPoint Energy Inc 5.95 04/01/2056
CNPUnknown
0.03%
161
Telus Corp Jr Subordina 06/56 Var
Other
0.03%
162
Canadian Vrn 07/28/86
Other
0.02%
163
Centerpoint Energy Inc Jr Subordina 02/55 Var %
CNP V6.85 02/15/55 BUtilities
0.02%
164
VERIZON COMMUNICATIONS JR SUBORDINA 02/57 VAR 6.75 02/15/2057
Other
0.02%
165
Citigroup Inc 6.875 11/73 6.88 2173-11-15
CFinancials
0.01%
166
Citigroup Inc Variable Rate
CUnknown
0.01%
167
Prudential Financial Inc Jr Subordina 06/56 Var
Other
0.01%

#	Company	Ticker	Weight
1	Bank Of America Corp 6.25% 12/31/2099	BAC V6.25 PERP	2.760%
2	Enbridge Inc 8.5% 01/15/2084	ENBCN V8.5 01/15/84	2.340%
3	Metlife Inc 5.85% Mar 15, 2056 5.85 2056-03-15	-	2.240%
4	Toronto-Dominion Bank Variable Rate, Due 10/31/2082	TD V8.125 10/31/82	1.980%
5	Pnc Financial Services Group, Inc. 6.2506/15/2023	PNC V6.25 PERP W	1.880%
6	Jpmorgan Chase & Co 6.5 04/01/2174	JPM V6.5 PERP OO	1.840%
7	Charles Schwab Corp. 5Y Us Ti + 2.25 12/31/9999 2.25 9999-12-31	-	1.750%
8	Bank Of Nova Scotia Jr Subordina 10/82 Var	BNS V8.625 10/27/82	1.720%
9	Bank Of America Corp. 5Y Us Ti + 2.684 12/31/9999	BAC V6.625 PERP	1.610%
10	M&T Bank Corp 3.500000% Maturity: Perpetual	MTB V3.5 PERP	1.610%
11	Wells Fargo + Company Jr Subordina 12/99 Var	WFC V6.85 PERP	1.510%
12	Huntington Bancshares Inc/OH 0.0625 12/f31/2099	-	1.490%
13	Metlife Inc Jr Subordina 144a 04/38 9.25	MET 9.25 04/08/38	1.480%
14	Truist Financial Corp Jr Subordina 12/99 Var	-	1.410%
15	Prudential Financial Inc 3.7% 10/01/2050	PRU V3.7 10/01/50	1.390%
16	Bank Of N Vrn 10/27/85	-	1.370%
17	Electricite De France 9.125%/Var Perp 144A	EDF	1.370%
18	Wells Fargo Co 6.125 6/74	-	1.360%
19	Jpmorgan Vrn 12/31/99 2099-12-31	-	1.320%
20	Et V6.75 02/15/56 Corp	ET V6.75 02/15/56	1.290%
21	Canadian Imperial Bank Jr Subordina 01/85 Var	CM V6.95 01/28/85	1.230%
22	Meiji Yasuda Life Insura 6.100% Flt 06/11/55 Sr:144A	MYLIFE V6.1 06/11/55	1.230%
23	Bank Of Montreal Jr Subordina 11/84 Var %	BMO V7.3 11/26/84	1.220%
24	Goldman Sachs Group Inc (The) 7.5%/Var Perp	GS V7.5 PERP X	1.200%
25	Dominion Energy, Inc. 6.625 05/14/2055	D V6.625 05/15/55	1.190%
26	Charles Schwab Corp Jr Subordina 12/99 Var 5	SCHW V4 PERP H	1.180%
27	Royal Bank Of Canada Jr Subordina 11/85 Var 6.5 11/24/2085	-	1.150%
28	Bp Capital Markets P.L.C. 6.125 06/17/2173	BPLN V6.125 PERP	1.130%
29	Goldman Sachs Group Inc Jr Subordina 12/99 Var	GS V6.125 PERP Y	1.110%
30	Huntington Bancshares Regd V/r /perp/ Ser F 5.62500000	HBAN V5.625 PERP F	1.080%
31	Sempra Variable Rate, Due 10/01/2054	SRE V6.4 10/01/54	1.080%
32	Citigroup Inc 6.75 Dec. 31, 2059	C V6.75 PERP EE	1.040%
33	American Electric Power Co Inc 0.0605 03/f15/2056	-	1.010%
34	Nextera Energy Capital Holdings, Inc	NEE V3.8 03/15/82	0.980%
35	Citigroup Inc. 7%	C V7 PERP DD	0.950%
36	Bank Of Montreal Jr Subordina 11/85 Var	BMO V6.875 11/26/85	0.940%
37	Transcanada Trust 5.6%	TRPCN V5.6 03/07/82	0.870%
38	Jpmorgan Chase Bank, 6.125% Perp., USD	VOYA V7.758 PERP A	0.860%
39	Wells Fargo + Company Jr Subordina 12/99 Var	WFC V7.625 PERP	0.850%
40	Toronto Dominion Bank Jr Subordina 07/84 Var 7.25% 2084-07-31	TD V7.25 07/31/84	0.840%
41	Dominion Energy, Inc. 6.2 02/14/2056	D V6.2 02/15/56	0.820%
42	Dai-Ichi Life Insurance Co., Ltd. (The)	DAIL V6.2 PERP 144A	0.790%
43	Reinsurance Grp Of Amer Subordinated 09/55 Var 6.65% 09/15/2055	RGA V6.65 09/15/55	0.790%
44	Canadian Imperial Bank 7.000% Flt 10/28/85	CM V7 10/28/85	0.770%
45	State Street Corp Jr Subordina 12/99 Var	STT V6.7 PERP J	0.760%
46	Bank Of Montreal 7.7%	BMO V7.7 05/26/84	0.750%
47	State Street Corp 6.45% 06/15/2173	STT V6.45 PERP	0.750%
48	Prudential Financial Inc 5.13% 01Mar2052	PRU V5.125 03/01/52	0.730%
49	Royal Bank Of Canada 7.5% May 02, 2084	RY V7.5 05/02/84	0.720%
50	Royal Bank Of Canada Jr Subordina 11/84 Var	RY V6.35 11/24/84	0.720%
51	Net Other Assets	-	0.720%
52	Enbridge Inc Regd V/r Ser 20-a 5.75000000	ENBCN V5.75 07/15/80	0.700%
53	Transcanada Pipelines 6.375% Flt 10/17/56 Sr:. 6.375 2056-10-17	-	0.700%
54	Psx V5.875 03/15/56 A Corp	-	0.690%
55	Alliant Energy Corp 0.0575 04/F01/2056	-	0.670%
56	Bank Of New York Mellon Corp Preferred Shs Depositoty Receipt Repr 1/100Th Pfd Shs Series M, 5.62%, 06/20/99	BK	0.650%
57	Farm Credit Bk Of Texas Jr Subordina 12/99 Var	FARMCB V7 PERP 6	0.650%
58	Nippon Life Insur V/R 01/21/51	NIPLIF V2.75 01/21/5	0.640%
59	Bp Capital Markets Plc 6.45 2034-03-01	BPLN V6.45 PERP	0.630%
60	Us Bancorp Del 3.7%/Var Perp	USB V3.7 PERP	0.630%
61	Citigroup Inc 7.375 Perp	C V7.375 PERP Z	0.620%
62	Goldman Sachs Group Inc/The 6.85% Dec 31, 2079	GS V6.85 PERP	0.610%
63	Truist Financial Corp 4.8 12/31/2099	TFC V6.669 PERP N	0.610%
64	American Express Co American Express Co	-	0.590%
65	Sumitomo Life Insur 5.875% Flt 09/10/55 Sr:144A	-	0.590%
66	Corebridge Financial, Inc.	-	0.570%
67	Psx V6.2 03/15/56 B Corp	-	0.570%
68	Altagas Ltd V/R 10/15/54	ALACN V7.2 10/15/54	0.560%
69	Meiji Yasuda Life Insura Subordinated 144A 09/54 Var	MYLIFE V5.8 09/11/54	0.560%
70	Keycorp Capital Iii	-	0.550%
71	Vodafone Group Plc 5.125 04/06/2081	VOD V5.125 06/04/81	0.550%
72	Enbridge Inc 7.63 01/15/2083	ENBCN V7.625 01/15/8	0.530%
73	us dollar001/00/1900	-	0.530%
74	Nippon Life Insurance 6.5% 04/30/2055	-	0.530%
75	Entergy Corp Variable Rate, Due 06/15/2056	-	0.520%
76	Jpmorgan Chase + Co Jr Subordina 12/99 Var12/31/2099	JPM V6.875 PERP NN	0.520%
77	State Street Corp Jr Subordina 12/99 Var 6.7	STT V6.7 PERP I	0.520%
78	Dominion Energy Inc 6.88 02/01/2055	D V6.875 02/01/55 A	0.500%
79	Exelon Corporation 6.5% Mar 15, 2055	EXC V6.5 03/15/55	0.500%
80	Spire Inc. 0% 05/31/2056	-	0.490%
81	ROYAL BANK OF CANADA JR SUBORDINA 08/85 VAR	RY V6.75 08/24/85	0.480%
82	Corebridge Financial Inc Variable Rate, Due 09/15/2054	CRBG V6.375 09/15/54	0.470%
83	Citigroup Inc 6.95%	C V6.95 PERP FF	0.460%
84	Citigroup Inc 05/15/2174	-	0.450%
85	Bank Of Nova Scotia/The 8 01-27-2084	BNS V8 01/27/84	0.440%
86	Nextera Energy Capital Holding Company Guar 09/54 Var 6.7 2054-09-01	NEE V6.7 09/01/54	0.420%
87	Royal Bank Of Canada 6.5 05/24/2086 6.5	-	0.420%
88	Telus Corp V/R 06/09/56 2056-06-09	-	0.420%
89	Verizon Communications Jr Subordina 05/56 Var 6.2% 05/14/2056	-	0.420%
90	Algonquin Power & Utilities Corp., 4.75%,Jan18,2082	AQNCN V4.75 01/18/82	0.410%
91	American Electric Power Company, Inc. 7.05 12/15/2054	AEP V7.05 12/15/54 *	0.400%
92	Keycorp Capital I	-	0.400%
93	Nisource Inc. 6.95 11/30/2054	NI V6.95 11/30/54	0.400%
94	Sempra Jr Subordina 04/55 Var %	SRE V6.55 04/01/55	0.400%
95	Bank Nova Scoti 7.35 4/85	BNS V7.35 04/27/85	0.390%
96	Corebridge Financial Inc 6.88% 15Dec2052	CRBG V6.875 12/15/52	0.380%
97	State Street Institutional US Government Money Market Fund	GVMXX	0.380%
98	Telus Corp V/R 10/15/55	TCN V7 10/15/55	0.370%
99	Wec Energy Group Inc 5.6 05/15/2056	-	0.370%
100	Cobank Acb Variable Rate	-	0.360%
101	Enterprise Products Operating Company Guar 08/77 Var	EPD V5.25 08/16/77 E	0.350%
102	Truist Financial Corp	TFC V5.1 PERP Q	0.350%
103	Verizon Communications Verizon Communications	-	0.350%
104	Duke Energy Corp Jr Subordina 09/54 Var	DUK V6.45 09/01/54	0.340%
105	Transcanada Pipelines Limited 6.125%	-	0.330%
106	American Electric V/R 12/15/54	AEP V6.95 12/15/54	0.320%
107	Liberty Mutual Gr V/R 12/15/51	LIBMUT V4.125 12/15/	0.320%
108	Centerpoint Energy, Inc. 05/15/2055	CNP V6.7 05/15/55	0.310%
109	Eversource Energy 6.10% 08/15/2031 6.1	-	0.310%
110	Dte Energy Co V/R 07/01/58	-	0.300%
111	Pnc Financial Servi V/R /Perp/	PNC V6.2 PERP V	0.300%
112	Allianz Se 6.35 09-06-2053	ALVGR V6.35 09/06/53	0.270%
113	Centerpoint Energy Inc Jr Subordina 08/58 Var	-	0.270%
114	Citizens Financial Group Jr Subordina 12/99 Var	-	0.270%
115	Evergy Inc Subordinated 06/55 Var	EVRG V6.65 06/01/55	0.270%
116	Nippon Life Insurance Regd V/R 144A P/P 2.90000000	NIPLIF V2.9 09/16/51	0.270%
117	Suntrust Capital I	TFC F 05/15/27 A	0.250%
118	Alexandria Real Estate Eq 7.3 2057-02-15	-	0.240%
119	Bank Of Montreal 4.8 12/31/2099	BMO V6.709 PERP	0.240%
120	Emera Us Finance V/R 10/01/56	-	0.230%
121	Entergy Corp 6.75 20581215	-	0.230%
122	Sumitomo Life Insur Subordinated 144A 04/81 Var	SUMILF V3.375 04/15/	0.230%
123	Transcanada Pipelines 7% 01Jun2065	TRPCN V7 06/01/65	0.230%
124	Xenia Hotels & Resorts 4.875 06/01/2029 4.875 06/01/2029 4.875 2029-06-01	-	0.210%
125	Nisource Inc. 5.75 07/15/2056 5.75 2056-07-15	-	0.210%
126	Transcanada Trust 5.5% 09/15/2079	TRPCN V5.5 09/15/79	0.210%
127	Eushi Finance Inc Company Guar 12/54 Var	EMACN V7.625 12/15/5	0.200%
128	Pnc Financial Services Jr Subordina 12/99 Var	PNC V3.4 PERP T	0.200%
129	Telus Corp Jr Subordina 10/55 Var	TCN V6.625 10/15/55	0.200%
130	Swiss Re Subordinated Finance Plc 144A 6.19% Apr 01, 2046	SRENVX V6.191 04/01/	0.190%
131	Cms Energy 4.75 6/50	CMS V4.75 06/01/50	0.170%
132	Huntington Bancshares Incorporated 4.45% Oct 15/27	HBAN V4.45 PERP G	0.170%
133	Cms Energy Corporation 3.75% Dec 01, 2050	CMS V3.75 12/01/50	0.150%
134	Energy Transfer Lp Energy Transfer Lp	ET V6.5 02/15/56	0.150%
135	Eversource Energy 6.35% Aug 15, 2056 6.35 2056-08-15	-	0.150%
136	Nisource Inc Variable Rate, Due 03/31/2055	NI V6.375 03/31/55	0.150%
137	American Electric Power C 5.8 03/14/2056	-	0.140%
138	Eushi Finance Inc Company Guar 04/56 Var	-	0.140%
139	Cobank Acb 6.45% 12/31/2049	COBKAC V6.45 PERP K	0.130%
140	Southern Co 6.38 2055-03-15	SO V6.375 03/15/55 2	0.130%
141	Xcel Energy Inc Jr Subordina 12/56 Var 5.75% 12/03/2056	-	0.130%
142	American Electric Power Co. Inc. 5Y Us Ti + 2.675 02/15/2062	AEP V3.875 02/15/62	0.120%
143	Liberty Mutual Group Inc	LIBMUT 7.8 03/15/37	0.120%
144	Nextera Energy Capital Holdings In 6.63 10/01/2066	-	0.120%
145	Reinsurance Group Of America Inc 6.38% Sep 15, 2056 6.38 2056-09-15	-	0.120%
146	Citigroup Inc., Series Cc	C V7.125 PERP CC	0.110%
147	Equitable Holdings Inc 6.700% Flt 03/28/55	EQH V6.7 03/28/55	0.110%
148	The Charles Schwab Corporation 5.00% Dec 31/99 5% 12/31/2099	SCHW V5 PERP K	0.110%
149	Electricite De France Sa Prp Reg S Sub (H) 9.125% 12-31-79/06-15-33 9.125 2079-12-31	-	0.110%
150	Dominion Energy Inc 7 06/01/2054	D V7 06/01/54 B	0.100%
151	Metlife Inc	MET 10.75 08/01/39	0.100%
152	Nippon Life Insurance Co 5.95% 04/16/2054	NIPLIF V5.95 04/16/5	0.090%
153	Centerpoint Energy, Inc 7 02/14/2055	CNP V7 02/15/55 A	0.080%
154	Dominion Energy, Inc. 6.15 2056-12-15	-	0.080%
155	Nextera Energy Capital 30Nc10 6.2 10/01/2056	-	0.070%
156	Southern Company Gas Capital Corp. 6.05%	-	0.070%
157	Nextera Energy Capital 6.500% Flt 08/15/55 Sr:.	NEE V6.5 08/15/55 .	0.060%
158	Swiss Re Subordinated Finance Plc 5.698% 04/05/2035	SRENVX V5.698 04/05/	0.050%
159	Southern Co Jr Subordina 04/58 Var	-	0.040%
160	CenterPoint Energy Inc 5.95 04/01/2056	CNP	0.030%
161	Telus Corp Jr Subordina 06/56 Var	-	0.030%
162	Canadian Vrn 07/28/86	-	0.020%
163	Centerpoint Energy Inc Jr Subordina 02/55 Var %	CNP V6.85 02/15/55 B	0.020%
164	VERIZON COMMUNICATIONS JR SUBORDINA 02/57 VAR 6.75 02/15/2057	-	0.020%
165	Citigroup Inc 6.875 11/73 6.88 2173-11-15	C	0.010%
166	Citigroup Inc Variable Rate	C	0.010%
167	Prudential Financial Inc Jr Subordina 06/56 Var	-	0.010%