PREF ETF

$18.31

AUM$1.9B

TER0.55%

Holdings338

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PREF ETF

$18.31

Principal Spectrum Preferred Securities Active ETF

AUM$1.9B

TER0.55%

Holdings338

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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 2.78% of the fund as of Sep 14, 2026. PREF is Principal Spectrum Preferred Securities Active ETF.

Showing top 50 of 171 holdings · as of Sep 14, 2026

PREF holdings, by weight
#	Ticker	Name	Weight	Cumulative	Mkt value	Sector	Industry
1	—	Bank Of America Corp 6.25% Dec 31, 2079Financials · Banks	2.78%	2.8%	$52.14M	Financials	Banks
2	Debt	Enbridge IncEnergy · Oil & Gas	2.33%	5.1%	$43.73M	Energy	Oil & Gas
Sector and industry · Pro
3	—	Metlife Inc 5.85% Mar 15, 2056 5.85 2056-03-15	2.21%	7.3%	$41.47M
4	—	Toronto-Dominion Bank Variable Rate, Due 10/31/2082	1.98%	9.3%	$37.16M
5	—	PNC Financial Services Group, Inc. 6.2506/15/2023	1.86%	11.2%	$34.90M
6	Debt	JPMorgan Chase & Co	1.83%	13.0%	$34.30M
7	—	The Charles Schwab Corporation 6.1%	1.75%	14.7%	$32.82M
8	—	Bank Of Nova Scotia Jr Subordina 10/82 Var	1.72%	16.5%	$32.24M
9	—	M&T Bank Corp 3.500000% Maturity: Perpetual	1.61%	18.1%	$30.25M
10	Debt	Bank Of America Corp. 5Y Us Ti +	1.60%	19.7%	$30.02M
11	—	Wells Fargo + Company Jr Subordina 12/99 Var	1.50%	21.2%	$28.20M
12	—	Huntington Bancshares Inc/OH 0.0625 12/f31/2099	1.48%	22.6%	$27.72M
13	—	Metlife Inc Jr Subordina 144a 04/38 9.25	1.47%	24.1%	$27.53M
14	—	Truist Financial Corp Jr Subordina 12/99 Var	1.40%	25.5%	$26.29M
15	Debt	Prudential Financial Inc	1.38%	26.9%	$26.01M
16	—	Wells Fargo Co 6.125 6/74	1.36%	28.3%	$25.62M
17	—	Bank Of N Vrn 10/27/85	1.35%	29.6%	$25.41M
18	EDF	Electricite De France 9.125%/Var Perp 144A	1.35%	31.0%	$25.40M
19	—	JPMorgan Chase + Co Jr Subordina 12/99 Var	1.30%	32.3%	$24.42M
20	Debt	Et V6	1.28%	33.5%	$24.12M
21	—	Canadian Imperial Bank Jr Subordina 01/85 Var	1.22%	34.8%	$22.91M
22	—	Bank Of Montreal Jr Subordina 11/84 Var %	1.21%	36.0%	$22.68M
23	—	Meiji Yasuda Life Insura 6.100% Flt 06/11/55 Sr:144A	1.21%	37.2%	$22.68M
24	—	Goldman Sachs Group Inc (The) 7.5%/Var Perp	1.19%	38.4%	$22.39M
25	Debt	Dominion Energy, Inc	1.18%	39.5%	$22.25M
26	—	Charles Schwab Corp Jr Subordina 12/99 Var 5	1.16%	40.7%	$21.85M
27	Debt	Royal Bank Of Canada Jr Subordina 11/85 Var	1.14%	41.8%	$21.39M
28	Debt	Bp Capital Markets P.L.C	1.12%	43.0%	$21.02M
29	—	Goldman Sachs Group Inc Jr Subordina 12/99 Var	1.09%	44.1%	$20.52M
30	—	Huntington Bancshares Regd V/r /perp/ Ser F 5.62500000	1.08%	45.1%	$20.20M
31	—	Sempra Variable Rate, Due 10/01/2054	1.07%	46.2%	$20.16M
32	—	Net Other Assets	1.05%	47.3%	$19.78M
33	—	Citigroup Inc 6.75 Dec. 31, 2059	1.03%	48.3%	$19.43M
34	—	American Electric Power Co Inc 0.0605 03/f15/2056	1.00%	49.3%	$18.72M
35	—	Citigroup Inc. 7%	0.98%	50.3%	$18.34M
36	—	Nextera Energy Capital Holdings, Inc	0.98%	51.2%	$18.38M
37	—	Bank Of Montreal Jr Subordina 11/85 Var	0.93%	52.2%	$17.45M
38	—	Transcanada Trust 5.6%	0.86%	53.0%	$16.20M
39	—	JPMorgan Chase Bank, 6.125% Perp., USD	0.86%	53.9%	$16.15M
40	—	Wells Fargo + Company Jr Subordina 12/99 Var	0.85%	54.7%	$15.99M
41	—	Toronto-Dominion Bank (The) 7.25 2084-07-31	0.83%	55.6%	$15.60M
42	Debt	Dominion Energy, Inc	0.82%	56.4%	$15.34M
43	Debt	Reinsurance Grp Of Amer Subordinated 09/55 Var	0.79%	57.2%	$14.85M
44	—	Dai-Ichi Life Insurance Co., Ltd. (The)	0.78%	58.0%	$14.64M
45	—	Canadian Imperial Bank 7.000% Flt 10/28/85	0.77%	58.7%	$14.41M
46	—	State Street Corp Jr Subordina 12/99 Var	0.76%	59.5%	$14.34M
47	—	Bank Of Montreal 7.7%	0.75%	60.2%	$14.01M
48	—	Farm Credit Bk Of Texas Jr Subordina 12/99 Var	0.75%	61.0%	$14.12M
49	Debt	State Street Corp	0.75%	61.7%	$14.02M
50	—	Prudential Financial Inc 5.13% 01Mar2052	0.73%	62.5%	$13.70M
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PREF ETF All Holdings

PREF holdings total 338 positions. The top 10 holdings account for 19.7% of the fund, led by Bank Of America Corp 6.25% Dec 31, 2079 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 52.9%.

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

171 of 338 holdings

Sector

Industry

Sort By

1
Bank Of America Corp 6.25% Dec 31, 2079
BAC V6.25 PERPFinancials
2.78%
2
Enbridge Inc 8.5% 01/15/2084
ENBCN V8.5 01/15/84Energy
2.33%
3
Metlife Inc 5.85% Mar 15, 2056 5.85 2056-03-15
Other
2.21%
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
1.86%
6
Jpmorgan Chase & Co 6.5 04/01/2174
JPM V6.5 PERP OOFinancials
1.83%
7
The Charles Schwab Corporation 6.1%
Other
1.75%
8
Bank Of Nova Scotia Jr Subordina 10/82 Var
BNS V8.625 10/27/82Financials
1.72%
9
M&T Bank Corp 3.500000% Maturity: Perpetual
MTB V3.5 PERPFinancials
1.61%
10
Bank Of America Corp. 5Y Us Ti + 2.684 12/31/9999
BAC V6.625 PERPFinancials
1.60%
11
Wells Fargo + Company Jr Subordina 12/99 Var
WFC V6.85 PERPFinancials
1.50%
12
Huntington Bancshares Inc/OH 0.0625 12/f31/2099
Other
1.48%
13
Metlife Inc Jr Subordina 144a 04/38 9.25
MET 9.25 04/08/38Financials
1.47%
14
Truist Financial Corp Jr Subordina 12/99 Var
Other
1.40%
15
Prudential Financial Inc 3.7% 10/01/2050
PRU V3.7 10/01/50Financials
1.38%
16
Wells Fargo Co 6.125 6/74
Other
1.36%
17
Bank Of N Vrn 10/27/85
Other
1.35%
18
Electricite De France 9.125%/Var Perp 144A
EDFUtilities
1.35%
19
Jpmorgan Chase + Co Jr Subordina 12/99 Var
Other
1.30%
20
Et V6.75 02/15/56 Corp
ET V6.75 02/15/56Energy
1.28%
21
Canadian Imperial Bank Jr Subordina 01/85 Var
CM V6.95 01/28/85Financials
1.22%
22
Bank Of Montreal Jr Subordina 11/84 Var %
BMO V7.3 11/26/84Financials
1.21%
23
Meiji Yasuda Life Insura 6.100% Flt 06/11/55 Sr:144A
MYLIFE V6.1 06/11/55Financials
1.21%
24
Goldman Sachs Group Inc (The) 7.5%/Var Perp
GS V7.5 PERP XFinancials
1.19%
25
Dominion Energy, Inc. 6.625 05/14/2055
D V6.625 05/15/55Utilities
1.18%
26
Charles Schwab Corp Jr Subordina 12/99 Var 5
SCHW V4 PERP HFinancials
1.16%
27
Royal Bank Of Canada Jr Subordina 11/85 Var 6.5 11/24/2085
Other
1.14%
28
Bp Capital Markets P.L.C. 6.125 06/17/2173
BPLN V6.125 PERPFinancials
1.12%
29
Goldman Sachs Group Inc Jr Subordina 12/99 Var
GS V6.125 PERP YFinancials
1.09%
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
1.07%
32
Net Other Assets
Other
1.05%
33
Citigroup Inc 6.75 Dec. 31, 2059
C V6.75 PERP EEFinancials
1.03%
34
American Electric Power Co Inc 0.0605 03/f15/2056
Other
1.00%
35
Citigroup Inc. 7%
C V7 PERP DDFinancials
0.98%
36
Nextera Energy Capital Holdings, Inc
NEE V3.8 03/15/82Utilities
0.98%
37
Bank Of Montreal Jr Subordina 11/85 Var
BMO V6.875 11/26/85 Financials
0.93%
38
Transcanada Trust 5.6%
TRPCN V5.6 03/07/82Financials
0.86%
39
Jpmorgan Chase Bank, 6.125% Perp., USD
VOYA V7.758 PERP AFinancials
0.86%
40
Wells Fargo + Company Jr Subordina 12/99 Var
WFC V7.625 PERPFinancials
0.85%
41
Toronto-Dominion Bank (The) 7.25 2084-07-31
TD V7.25 07/31/84Financials
0.83%
42
Dominion Energy, Inc. 6.2 02/14/2056
D V6.2 02/15/56Utilities
0.82%
43
Reinsurance Grp Of Amer Subordinated 09/55 Var 6.65% 09/15/2055
RGA V6.65 09/15/55Financials
0.79%
44
Dai-Ichi Life Insurance Co., Ltd. (The)
DAIL V6.2 PERP 144AFinancials
0.78%
45
Canadian Imperial Bank 7.000% Flt 10/28/85
CM V7 10/28/85Financials
0.77%
46
State Street Corp Jr Subordina 12/99 Var
STT V6.7 PERP JFinancials
0.76%
47
Bank Of Montreal 7.7%
BMO V7.7 05/26/84Financials
0.75%
48
Farm Credit Bk Of Texas Jr Subordina 12/99 Var
FARMCB V7 PERP 6Financials
0.75%
49
State Street Corp 6.45% 06/15/2173
STT V6.45 PERPFinancials
0.75%
50
Prudential Financial Inc 5.13% 01Mar2052
PRU V5.125 03/01/52Financials
0.73%
51
American Express Company 6.45 20791231
Other
0.71%
52
Royal Bank Of Canada 7.5% May 02, 2084
RY V7.5 05/02/84Financials
0.71%
53
Royal Bank Of Canada Jr Subordina 11/84 Var
RY V6.35 11/24/84Financials
0.71%
54
Enbridge Inc Regd V/r Ser 20-a 5.75000000
ENBCN V5.75 07/15/80Energy
0.69%
55
Psx V5.875 03/15/56 A Corp
Other
0.69%
56
Transcanada Pipelines 6.375% Flt 10/17/56 Sr:. 6.375 2056-10-17
Other
0.69%
57
Alliant Energy Corp 0.0575 04/F01/2056
Other
0.66%
58
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%
59
Nippon Life Insur V/R 01/21/51
NIPLIF V2.75 01/21/5Financials
0.64%
60
Bp Capital Markets Plc 6.45 2034-03-01
BPLN V6.45 PERPFinancials
0.63%
61
Us Bancorp Del 3.7%/Var Perp
USB V3.7 PERPFinancials
0.63%
62
Truist Financial Corp 4.8 12/31/2099
TFC V6.669 PERP NFinancials
0.62%
63
Citigroup Inc 7.375 Perp
C V7.375 PERP ZFinancials
0.61%
64
Goldman Sachs Group Inc/The 6.85% Dec 31, 2079
GS V6.85 PERPFinancials
0.60%
65
Sumitomo Life Insur 5.875% Flt 09/10/55 Sr:144A
Other
0.60%
66
Altagas Ltd V/R 10/15/54
ALACN V7.2 10/15/54 Utilities
0.56%
67
Corebridge Financial, Inc. 6.88% Dec 01/30
Other
0.56%
68
Psx V6.2 03/15/56 B Corp
Other
0.56%
69
Meiji Yasuda Life Insura Subordinated 144A 09/54 Var
MYLIFE V5.8 09/11/54Financials
0.55%
70
Vodafone Group Plc 5.125 04/06/2081
VOD V5.125 06/04/81Communication Services
0.55%
71
Keycorp Capital Iii
Other
0.54%
72
Enbridge Inc 7.63 01/15/2083
ENBCN V7.625 01/15/8Energy
0.53%
73
Entergy Corp Variable Rate, Due 06/15/2056
Other
0.52%
74
State Street Corp Jr Subordina 12/99 Var 6.7
STT V6.7 PERP IFinancials
0.52%
75
Nippon Life Insurance 6.5% 04/30/2055
Other
0.52%
76
Jpmorgan Chase + Co Jr Subordina 12/99 Var12/31/2099
JPM V6.875 PERP NNFinancials
0.51%
77
Dominion Energy Inc 6.88 02/01/2055
D V6.875 02/01/55 AUtilities
0.50%
78
Exelon Corporation 6.5% Mar 15, 2055
EXC V6.5 03/15/55Utilities
0.50%
79
Spire Inc. 0% 05/31/2056
Other
0.48%
80
ROYAL BANK OF CANADA JR SUBORDINA 08/85 VAR
RY V6.75 08/24/85Financials
0.47%
81
Corebridge Financial Inc Variable Rate, Due 09/15/2054
CRBG V6.375 09/15/54Financials
0.46%
82
Citigroup Inc 05/15/2174
Other
0.45%
83
Citigroup Inc 6.95%
C V6.95 PERP FFFinancials
0.45%
84
Bank Of Nova Scotia/The 8 01-27-2084
BNS V8 01/27/84Financials
0.44%
85
Alexandria Real Estate E Company Guar 02/57 Var
Other
0.42%
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
Algonquin Power & Utilities Corp., 4.75%,Jan18,2082
AQNCN V4.75 01/18/82Utilities
0.41%
89
Telus Corp V/R 06/09/56 2056-06-09
Other
0.41%
90
Verizon Communications Jr Subordina 05/56 Var 6.2% 05/14/2056
Other
0.41%
91
Keycorp Capital I
Other
0.40%
92
Nisource Inc. 6.95 11/30/2054
NI V6.95 11/30/54Utilities
0.40%
93
Sempra Jr Subordina 04/55 Var %
SRE V6.55 04/01/55Utilities
0.40%
94
American Electric Power Company, Inc. 7.05 12/15/2054
AEP V7.05 12/15/54 *Utilities
0.39%
95
Bank Nova Scoti 7.35 4/85
BNS V7.35 04/27/85Financials
0.38%
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
Verizon Communications Verizon Communications
Other
0.37%
100
Wec Energy Group Inc 5.625 05/15/2056
Other
0.37%
101
Cobank Acb 6.750% Variable
Other
0.36%
102
Enterprise Products Operating Company Guar 08/77 Var
EPD V5.25 08/16/77 EEnergy
0.35%
103
Truist Financial Corp
TFC V5.1 PERP QFinancials
0.35%
104
Duke Energy Corp Jr Subordina 09/54 Var
DUK V6.45 09/01/54Utilities
0.34%
105
Eversource Energy 6.10% 08/15/2031 6.1
Other
0.34%
106
Transcanada Pipelines Limited 6.125%
Other
0.33%
107
American Electric V/R 12/15/54
AEP V6.95 12/15/54Utilities
0.32%
108
Liberty Mutual Gr V/R 12/15/51
LIBMUT V4.125 12/15/Financials
0.32%
109
Centerpoint Energy, Inc. 05/15/2055
CNP V6.7 05/15/55Utilities
0.31%
110
Dte Energy Co V/R 07/01/58
Other
0.30%
111
Allianz Se 6.35 09-06-2053
ALVGR V6.35 09/06/53Financials
0.27%
112
Centerpoint Energy Inc Jr Subordina 08/58 Var
Other
0.27%
113
Citizens Financial Group Jr Subordina 12/99 Var
Other
0.27%
114
Entergy Corp 6.75 20581215
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
Bank Of Montreal 4.8 12/31/2099
BMO V6.709 PERPFinancials
0.24%
119
Emera Us Finance V/R 10/01/56
Other
0.23%
120
Sumitomo Life Insur Subordinated 144A 04/81 Var
SUMILF V3.375 04/15/Financials
0.23%
121
Transcanada Pipelines 7% 01Jun2065
TRPCN V7 06/01/65Energy
0.22%
122
Xenia Hotels & Resorts 4.875 06/01/2029 4.875 06/01/2029 4.875 2029-06-01
Other
0.21%
123
Nisource Inc. 5.75 07/15/2056 5.75 2056-07-15
Other
0.21%
124
Transcanada Trust 5.5% 09/15/2079
TRPCN V5.5 09/15/79Financials
0.21%
125
Eushi Finance Inc Company Guar 12/54 Var
EMACN V7.625 12/15/5Financials
0.20%
126
Eversource Energy 6.35% Aug 15, 2056 6.35 2056-08-15
Other
0.20%
127
Pnc Financial Services Jr Subordina 12/99 Var
PNC V3.4 PERP TFinancials
0.20%
128
Telus Corp Jr Subordina 10/55 Var
TCN V6.625 10/15/55 Communication Services
0.20%
129
Swiss Re Subordinated Finance Plc 144A 6.19% Apr 01, 2046
SRENVX V6.191 04/01/Financials
0.18%
130
Cms Energy 4.75 6/50
CMS V4.75 06/01/50Utilities
0.17%
131
Huntington Bancshares Incorporated 4.45% Oct 15/27
HBAN V4.45 PERP GFinancials
0.17%
132
Cms Energy Corporation 3.75% Dec 01, 2050
CMS V3.75 12/01/50Utilities
0.15%
133
Energy Transfer Lp Energy Transfer Lp
ET V6.5 02/15/56Energy
0.15%
134
Nisource Inc Variable Rate, Due 03/31/2055
NI V6.375 03/31/55Utilities
0.15%
135
American Electric Power C 5.8 03/14/2056
Other
0.14%
136
Eushi Finance Inc Company Guar 04/56 Var
Other
0.14%
137
Cobank Acb 6.45% 12/31/2049
COBKAC V6.45 PERP KFinancials
0.13%
138
Liberty Mutual Group Inc
LIBMUT 7.8 03/15/37 Financials
0.13%
139
NISOURCE INC NISOURCE INC 6.25 04/15/2057
Other
0.13%
140
Xcel Energy Inc Jr Subordina 12/56 Var 5.75% 12/03/2056
Other
0.13%
141
American Electric Power Co. Inc. 5Y Us Ti + 2.675 02/15/2062
AEP V3.875 02/15/62Utilities
0.12%
142
Nextera Energy Capital Holdings In 6.63 10/01/2066
Other
0.12%
143
Reinsurance Group Of America Inc 6.38% Sep 15, 2056 6.38 2056-09-15
Other
0.12%
144
Southern Co 6.38 2055-03-15
SO V6.375 03/15/55 2Utilities
0.12%
145
Citigroup Inc., Series Cc
C V7.125 PERP CCFinancials
0.11%
146
Equitable Holdings Inc 6.700% Flt 03/28/55
EQH V6.7 03/28/55Financials
0.11%
147
The Charles Schwab Corporation 5.00% Dec 31/99 5% 12/31/2099
SCHW V5 PERP KFinancials
0.11%
148
Southern Company Gas Capital Corp. 6.05%
Other
0.11%
149
Dominion Energy Inc 7 06/01/2054
D V7 06/01/54 BUtilities
0.10%
150
Metlife Inc
MET 10.75 08/01/39Financials
0.10%
151
Electricite De France Sa Prp Reg S Sub (H) 9.125% 12-31-79/06-15-33 9.125 2079-12-31
Other
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 02/15/2055
CNP V7 02/15/55 AUtilities
0.08%
154
Dominion Energy, Inc. 6.15 2056-12-15
Other
0.08%
155
Japan Post Insurance Co Ltd 6.5% 09/16/2056
Other
0.08%
156
Ameren Corp Ameren Corp 2057-03-15
Other
0.07%
157
Fortis Inc/Canada 6.625 % 03/30/2057
Other
0.07%
158
Fortis Inc/Canada 6.875 % 03/30/2057
Other
0.07%
159
Nextera Energy Capital 30Nc10 6.2 10/01/2056
Other
0.07%
160
Nextera Energy Capital 6.500% Flt 08/15/55 Sr:.
NEE V6.5 08/15/55 .Utilities
0.06%
161
Entergy Corp Variable Rate, Due 12/15/2056
Other
0.05%
162
Swiss Re Sub Fin Plc Company Guar 144A 04/35 Var 5.698% 04/05/2035
SRENVX V5.698 04/05/Financials
0.05%
163
Southern Co Jr Subordina 04/58 Var
Other
0.04%
164
CenterPoint Energy Inc 5.95 04/01/2056
CNPUnknown
0.03%
165
Telus Corp Jr Subordina 06/56 Var
Other
0.03%
166
Canadian Imperial Bank 6.5 7/28/2086 6.5 2086-07-28
Other
0.02%
167
Centerpoint Energy Inc Jr Subordina 02/55 Var %
CNP V6.85 02/15/55 BUtilities
0.02%
168
Verizon Communications Inc 6.75 02/15/2057
Other
0.02%
169
Citigroup Inc 6.875 11/73 6.88 2173-11-15
CFinancials
0.01%
170
Citigroup Inc Variable Rate
CUnknown
0.01%
171
Prudential Financial Inc Jr Subordina 06/56 Var
Other
0.01%

#	Company	Ticker	Weight
1	Bank Of America Corp 6.25% Dec 31, 2079	BAC V6.25 PERP	2.780%
2	Enbridge Inc 8.5% 01/15/2084	ENBCN V8.5 01/15/84	2.330%
3	Metlife Inc 5.85% Mar 15, 2056 5.85 2056-03-15	-	2.210%
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	1.860%
6	Jpmorgan Chase & Co 6.5 04/01/2174	JPM V6.5 PERP OO	1.830%
7	The Charles Schwab Corporation 6.1%	-	1.750%
8	Bank Of Nova Scotia Jr Subordina 10/82 Var	BNS V8.625 10/27/82	1.720%
9	M&T Bank Corp 3.500000% Maturity: Perpetual	MTB V3.5 PERP	1.610%
10	Bank Of America Corp. 5Y Us Ti + 2.684 12/31/9999	BAC V6.625 PERP	1.600%
11	Wells Fargo + Company Jr Subordina 12/99 Var	WFC V6.85 PERP	1.500%
12	Huntington Bancshares Inc/OH 0.0625 12/f31/2099	-	1.480%
13	Metlife Inc Jr Subordina 144a 04/38 9.25	MET 9.25 04/08/38	1.470%
14	Truist Financial Corp Jr Subordina 12/99 Var	-	1.400%
15	Prudential Financial Inc 3.7% 10/01/2050	PRU V3.7 10/01/50	1.380%
16	Wells Fargo Co 6.125 6/74	-	1.360%
17	Bank Of N Vrn 10/27/85	-	1.350%
18	Electricite De France 9.125%/Var Perp 144A	EDF	1.350%
19	Jpmorgan Chase + Co Jr Subordina 12/99 Var	-	1.300%
20	Et V6.75 02/15/56 Corp	ET V6.75 02/15/56	1.280%
21	Canadian Imperial Bank Jr Subordina 01/85 Var	CM V6.95 01/28/85	1.220%
22	Bank Of Montreal Jr Subordina 11/84 Var %	BMO V7.3 11/26/84	1.210%
23	Meiji Yasuda Life Insura 6.100% Flt 06/11/55 Sr:144A	MYLIFE V6.1 06/11/55	1.210%
24	Goldman Sachs Group Inc (The) 7.5%/Var Perp	GS V7.5 PERP X	1.190%
25	Dominion Energy, Inc. 6.625 05/14/2055	D V6.625 05/15/55	1.180%
26	Charles Schwab Corp Jr Subordina 12/99 Var 5	SCHW V4 PERP H	1.160%
27	Royal Bank Of Canada Jr Subordina 11/85 Var 6.5 11/24/2085	-	1.140%
28	Bp Capital Markets P.L.C. 6.125 06/17/2173	BPLN V6.125 PERP	1.120%
29	Goldman Sachs Group Inc Jr Subordina 12/99 Var	GS V6.125 PERP Y	1.090%
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	1.070%
32	Net Other Assets	-	1.050%
33	Citigroup Inc 6.75 Dec. 31, 2059	C V6.75 PERP EE	1.030%
34	American Electric Power Co Inc 0.0605 03/f15/2056	-	1.000%
35	Citigroup Inc. 7%	C V7 PERP DD	0.980%
36	Nextera Energy Capital Holdings, Inc	NEE V3.8 03/15/82	0.980%
37	Bank Of Montreal Jr Subordina 11/85 Var	BMO V6.875 11/26/85	0.930%
38	Transcanada Trust 5.6%	TRPCN V5.6 03/07/82	0.860%
39	Jpmorgan Chase Bank, 6.125% Perp., USD	VOYA V7.758 PERP A	0.860%
40	Wells Fargo + Company Jr Subordina 12/99 Var	WFC V7.625 PERP	0.850%
41	Toronto-Dominion Bank (The) 7.25 2084-07-31	TD V7.25 07/31/84	0.830%
42	Dominion Energy, Inc. 6.2 02/14/2056	D V6.2 02/15/56	0.820%
43	Reinsurance Grp Of Amer Subordinated 09/55 Var 6.65% 09/15/2055	RGA V6.65 09/15/55	0.790%
44	Dai-Ichi Life Insurance Co., Ltd. (The)	DAIL V6.2 PERP 144A	0.780%
45	Canadian Imperial Bank 7.000% Flt 10/28/85	CM V7 10/28/85	0.770%
46	State Street Corp Jr Subordina 12/99 Var	STT V6.7 PERP J	0.760%
47	Bank Of Montreal 7.7%	BMO V7.7 05/26/84	0.750%
48	Farm Credit Bk Of Texas Jr Subordina 12/99 Var	FARMCB V7 PERP 6	0.750%
49	State Street Corp 6.45% 06/15/2173	STT V6.45 PERP	0.750%
50	Prudential Financial Inc 5.13% 01Mar2052	PRU V5.125 03/01/52	0.730%
51	American Express Company 6.45 20791231	-	0.710%
52	Royal Bank Of Canada 7.5% May 02, 2084	RY V7.5 05/02/84	0.710%
53	Royal Bank Of Canada Jr Subordina 11/84 Var	RY V6.35 11/24/84	0.710%
54	Enbridge Inc Regd V/r Ser 20-a 5.75000000	ENBCN V5.75 07/15/80	0.690%
55	Psx V5.875 03/15/56 A Corp	-	0.690%
56	Transcanada Pipelines 6.375% Flt 10/17/56 Sr:. 6.375 2056-10-17	-	0.690%
57	Alliant Energy Corp 0.0575 04/F01/2056	-	0.660%
58	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%
59	Nippon Life Insur V/R 01/21/51	NIPLIF V2.75 01/21/5	0.640%
60	Bp Capital Markets Plc 6.45 2034-03-01	BPLN V6.45 PERP	0.630%
61	Us Bancorp Del 3.7%/Var Perp	USB V3.7 PERP	0.630%
62	Truist Financial Corp 4.8 12/31/2099	TFC V6.669 PERP N	0.620%
63	Citigroup Inc 7.375 Perp	C V7.375 PERP Z	0.610%
64	Goldman Sachs Group Inc/The 6.85% Dec 31, 2079	GS V6.85 PERP	0.600%
65	Sumitomo Life Insur 5.875% Flt 09/10/55 Sr:144A	-	0.600%
66	Altagas Ltd V/R 10/15/54	ALACN V7.2 10/15/54	0.560%
67	Corebridge Financial, Inc. 6.88% Dec 01/30	-	0.560%
68	Psx V6.2 03/15/56 B Corp	-	0.560%
69	Meiji Yasuda Life Insura Subordinated 144A 09/54 Var	MYLIFE V5.8 09/11/54	0.550%
70	Vodafone Group Plc 5.125 04/06/2081	VOD V5.125 06/04/81	0.550%
71	Keycorp Capital Iii	-	0.540%
72	Enbridge Inc 7.63 01/15/2083	ENBCN V7.625 01/15/8	0.530%
73	Entergy Corp Variable Rate, Due 06/15/2056	-	0.520%
74	State Street Corp Jr Subordina 12/99 Var 6.7	STT V6.7 PERP I	0.520%
75	Nippon Life Insurance 6.5% 04/30/2055	-	0.520%
76	Jpmorgan Chase + Co Jr Subordina 12/99 Var12/31/2099	JPM V6.875 PERP NN	0.510%
77	Dominion Energy Inc 6.88 02/01/2055	D V6.875 02/01/55 A	0.500%
78	Exelon Corporation 6.5% Mar 15, 2055	EXC V6.5 03/15/55	0.500%
79	Spire Inc. 0% 05/31/2056	-	0.480%
80	ROYAL BANK OF CANADA JR SUBORDINA 08/85 VAR	RY V6.75 08/24/85	0.470%
81	Corebridge Financial Inc Variable Rate, Due 09/15/2054	CRBG V6.375 09/15/54	0.460%
82	Citigroup Inc 05/15/2174	-	0.450%
83	Citigroup Inc 6.95%	C V6.95 PERP FF	0.450%
84	Bank Of Nova Scotia/The 8 01-27-2084	BNS V8 01/27/84	0.440%
85	Alexandria Real Estate E Company Guar 02/57 Var	-	0.420%
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	Algonquin Power & Utilities Corp., 4.75%,Jan18,2082	AQNCN V4.75 01/18/82	0.410%
89	Telus Corp V/R 06/09/56 2056-06-09	-	0.410%
90	Verizon Communications Jr Subordina 05/56 Var 6.2% 05/14/2056	-	0.410%
91	Keycorp Capital I	-	0.400%
92	Nisource Inc. 6.95 11/30/2054	NI V6.95 11/30/54	0.400%
93	Sempra Jr Subordina 04/55 Var %	SRE V6.55 04/01/55	0.400%
94	American Electric Power Company, Inc. 7.05 12/15/2054	AEP V7.05 12/15/54 *	0.390%
95	Bank Nova Scoti 7.35 4/85	BNS V7.35 04/27/85	0.380%
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	Verizon Communications Verizon Communications	-	0.370%
100	Wec Energy Group Inc 5.625 05/15/2056	-	0.370%
101	Cobank Acb 6.750% Variable	-	0.360%
102	Enterprise Products Operating Company Guar 08/77 Var	EPD V5.25 08/16/77 E	0.350%
103	Truist Financial Corp	TFC V5.1 PERP Q	0.350%
104	Duke Energy Corp Jr Subordina 09/54 Var	DUK V6.45 09/01/54	0.340%
105	Eversource Energy 6.10% 08/15/2031 6.1	-	0.340%
106	Transcanada Pipelines Limited 6.125%	-	0.330%
107	American Electric V/R 12/15/54	AEP V6.95 12/15/54	0.320%
108	Liberty Mutual Gr V/R 12/15/51	LIBMUT V4.125 12/15/	0.320%
109	Centerpoint Energy, Inc. 05/15/2055	CNP V6.7 05/15/55	0.310%
110	Dte Energy Co V/R 07/01/58	-	0.300%
111	Allianz Se 6.35 09-06-2053	ALVGR V6.35 09/06/53	0.270%
112	Centerpoint Energy Inc Jr Subordina 08/58 Var	-	0.270%
113	Citizens Financial Group Jr Subordina 12/99 Var	-	0.270%
114	Entergy Corp 6.75 20581215	-	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	Bank Of Montreal 4.8 12/31/2099	BMO V6.709 PERP	0.240%
119	Emera Us Finance V/R 10/01/56	-	0.230%
120	Sumitomo Life Insur Subordinated 144A 04/81 Var	SUMILF V3.375 04/15/	0.230%
121	Transcanada Pipelines 7% 01Jun2065	TRPCN V7 06/01/65	0.220%
122	Xenia Hotels & Resorts 4.875 06/01/2029 4.875 06/01/2029 4.875 2029-06-01	-	0.210%
123	Nisource Inc. 5.75 07/15/2056 5.75 2056-07-15	-	0.210%
124	Transcanada Trust 5.5% 09/15/2079	TRPCN V5.5 09/15/79	0.210%
125	Eushi Finance Inc Company Guar 12/54 Var	EMACN V7.625 12/15/5	0.200%
126	Eversource Energy 6.35% Aug 15, 2056 6.35 2056-08-15	-	0.200%
127	Pnc Financial Services Jr Subordina 12/99 Var	PNC V3.4 PERP T	0.200%
128	Telus Corp Jr Subordina 10/55 Var	TCN V6.625 10/15/55	0.200%
129	Swiss Re Subordinated Finance Plc 144A 6.19% Apr 01, 2046	SRENVX V6.191 04/01/	0.180%
130	Cms Energy 4.75 6/50	CMS V4.75 06/01/50	0.170%
131	Huntington Bancshares Incorporated 4.45% Oct 15/27	HBAN V4.45 PERP G	0.170%
132	Cms Energy Corporation 3.75% Dec 01, 2050	CMS V3.75 12/01/50	0.150%
133	Energy Transfer Lp Energy Transfer Lp	ET V6.5 02/15/56	0.150%
134	Nisource Inc Variable Rate, Due 03/31/2055	NI V6.375 03/31/55	0.150%
135	American Electric Power C 5.8 03/14/2056	-	0.140%
136	Eushi Finance Inc Company Guar 04/56 Var	-	0.140%
137	Cobank Acb 6.45% 12/31/2049	COBKAC V6.45 PERP K	0.130%
138	Liberty Mutual Group Inc	LIBMUT 7.8 03/15/37	0.130%
139	NISOURCE INC NISOURCE INC 6.25 04/15/2057	-	0.130%
140	Xcel Energy Inc Jr Subordina 12/56 Var 5.75% 12/03/2056	-	0.130%
141	American Electric Power Co. Inc. 5Y Us Ti + 2.675 02/15/2062	AEP V3.875 02/15/62	0.120%
142	Nextera Energy Capital Holdings In 6.63 10/01/2066	-	0.120%
143	Reinsurance Group Of America Inc 6.38% Sep 15, 2056 6.38 2056-09-15	-	0.120%
144	Southern Co 6.38 2055-03-15	SO V6.375 03/15/55 2	0.120%
145	Citigroup Inc., Series Cc	C V7.125 PERP CC	0.110%
146	Equitable Holdings Inc 6.700% Flt 03/28/55	EQH V6.7 03/28/55	0.110%
147	The Charles Schwab Corporation 5.00% Dec 31/99 5% 12/31/2099	SCHW V5 PERP K	0.110%
148	Southern Company Gas Capital Corp. 6.05%	-	0.110%
149	Dominion Energy Inc 7 06/01/2054	D V7 06/01/54 B	0.100%
150	Metlife Inc	MET 10.75 08/01/39	0.100%
151	Electricite De France Sa Prp Reg S Sub (H) 9.125% 12-31-79/06-15-33 9.125 2079-12-31	-	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 02/15/2055	CNP V7 02/15/55 A	0.080%
154	Dominion Energy, Inc. 6.15 2056-12-15	-	0.080%
155	Japan Post Insurance Co Ltd 6.5% 09/16/2056	-	0.080%
156	Ameren Corp Ameren Corp 2057-03-15	-	0.070%
157	Fortis Inc/Canada 6.625 % 03/30/2057	-	0.070%
158	Fortis Inc/Canada 6.875 % 03/30/2057	-	0.070%
159	Nextera Energy Capital 30Nc10 6.2 10/01/2056	-	0.070%
160	Nextera Energy Capital 6.500% Flt 08/15/55 Sr:.	NEE V6.5 08/15/55 .	0.060%
161	Entergy Corp Variable Rate, Due 12/15/2056	-	0.050%
162	Swiss Re Sub Fin Plc Company Guar 144A 04/35 Var 5.698% 04/05/2035	SRENVX V5.698 04/05/	0.050%
163	Southern Co Jr Subordina 04/58 Var	-	0.040%
164	CenterPoint Energy Inc 5.95 04/01/2056	CNP	0.030%
165	Telus Corp Jr Subordina 06/56 Var	-	0.030%
166	Canadian Imperial Bank 6.5 7/28/2086 6.5 2086-07-28	-	0.020%
167	Centerpoint Energy Inc Jr Subordina 02/55 Var %	CNP V6.85 02/15/55 B	0.020%
168	Verizon Communications Inc 6.75 02/15/2057	-	0.020%
169	Citigroup Inc 6.875 11/73 6.88 2173-11-15	C	0.010%
170	Citigroup Inc Variable Rate	C	0.010%
171	Prudential Financial Inc Jr Subordina 06/56 Var	-	0.010%